FOIG Indoor Golf Manufacturers, LLC COFIDENTIAL INFORMATION MEMORANDUM August 10, 2016 TABLE OF CONTENTS

Section 1 Introduction Page 6

Section 2 Golf Industry and Alternative Golf Experiences Overview Page 10

Section 3 Topgolf Overview Page 24

Section 4 REALiTEE Company Overview Page 39

Section 5 REALiTEE Golf Overview Page 49

Section 6 Potential Competitors Page 68

Section 7 Financial Projections Page 72

Section 8 Transaction Merits Page 81

Section 9 Contact Information Page 84

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 2 DISCLOSURE

This confidential information memorandum summary (the “Memorandum”) is being submitted to prospective investors and lenders on a confidential basis by FOIG Indoor Golf Manufacturers, LLC dba REALiTEE Golf (the “Company” or “REALiTEE”) solely in connection with the proposed transaction described herein (the “Transaction”). Its use for any other purpose is not authorized. It may not be reproduced without permission, in whole or in part, nor may its contents be disclosed to any other person.

In addition, without the prior written consent of the Company, you will not, and (as applicable) will direct your directors, officers, employees, affiliates and representatives who have access to this Memorandum not to, disclose to any person either the fact that discussions or negotiations may be taking place concerning a possible Transaction between you and the Company, or any of the terms, conditions or other facts with respect to any such possible Transaction, including the status thereof. Furthermore, without the prior written consent of the Company, you will not, and (as applicable) will direct your directors, officers, employees, and representatives who have access to this Memorandum not to, contact any of the Company suppliers, advisors, partners or employees regarding the Company while evaluating a possible transaction between you and the Company.

The information contained in this Memorandum has been obtained from both the Company and publicly available information. The information contained herein is believed to be reliable; however, the Company has made no independent investigation of such information. For that reason the Company does not make any representation or warranty as to the accuracy or completeness of such information, and nothing contained in this Memorandum is, or shall be relied upon as, a promise or representation as to the future potential results of the Company.

This Memorandum shall at all times remain the property of the Company. The Company reserves the right to require the return of this Memorandum (together with any copies or extracts thereof) at any time. The Company reserves the right to terminate, at any time, further participation in the evaluation and negotiation process by any party relating to the Transaction. Upon conclusion of the purpose for which the Memorandum has been supplied, recipients are requested to electronically delete or return promptly this document and any additional information provided to them in connection with the Transaction to the Company.

All communications, inquiries and requests for additional information should be directed to:

Dave Shultz Founder FOIG Indoor Golf Manufacturers, LLC Tel: (714) 951-7747 [email protected]

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 3 DISCLOSURE

By its acceptance hereof, each recipient agrees that neither it nor its agents, representatives, directors or employees will copy, reproduce or distribute to others this Memorandum, in whole or in part, at any time without the prior written consent of the Company, and that it will keep permanently confidential all information contained herein not already in the public domain and will use this presentation for the sole purpose of deciding whether to proceed with a further investigation of the Company.

No representation or warranty, express or implied is or will be given by the Company or its directors, partners, shareholders, members, employees or advisors or any other person as to the accuracy, or completeness of this presentation and no responsibility or liability whatsoever is accepted for the accuracy or sufficiency thereof or for any errors, omissions or misstatements, negligent or otherwise, relating thereto. Only those particular representations and warranties which may be made by the Company in a definitive written investment or loan agreement, when and if one is executed, and subject to such limitations and restrictions as may be specified in such agreement, shall have any legal effect.

This presentation includes certain statements, estimates, targets and projections provided by the Company with respect to the anticipated future performance of the Company. Such statements, estimates, targets and projections reflect significant assumptions and subjective judgments by the Company’s management concerning anticipated results. These assumptions and judgments may or may not prove to be correct and there can be no assurance that the estimates, targets or projections are attainable or will be realized. Accordingly, neither the Company nor any of its directors, partners, members, employees or advisors nor any other person, shall be liable for any direct, indirect or consequential loss or damages suffered by any person as a result of relying on any statement in or omission from this Memorandum and any such liability is expressly disclaimed. In all cases, interested parties should conduct their own investigation and analysis of the Company and the information contained in this Memorandum.

Except where otherwise indicated, this Memorandum speaks as of the date hereof. Neither the delivery of this Memorandum nor making an investment in, or loan to, the Company shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since the date hereof. In furnishing this Memorandum, the Company undertakes no obligation to update any of the information contained herein or to correct any inaccuracies which may become apparent.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 4 DISCLOSURE

This Memorandum does not constitute an offer or invitation for the sale or purchase of the securities, assets or business described herein and shall not form the basis of any contract. Each recipient acknowledges that the information contained in this Memorandum and the information related to a possible Transaction requires both the Company and the recipient to comply with particular regulatory and Blue Sky requirements within the United States.

Certain statements in this presentation, including information incorporated by reference, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect current views about future events and financial performance based on certain assumptions. They include opinions, forecasts, intentions, plans, goals, projections, guidance, expectations, beliefs or other statements that are not statements of historical fact. Words such as “may,” “will,” “should,” “could,” “would,” “expects,” “plans,” “believes,” “anticipates,” “intends,” “estimates,” “approximates,” “predicts,” or “projects,” or the negative or other variation of such words, and similar expressions may identify a statement as a forward-looking statement. Any statements that refer to projections of the Company’s future financial performance, anticipated growth and trends in the Company’s business, its goals, strategies, focus and plans, and other characterizations of future events or circumstances, including statements expressing general optimism about future operating results, are forward-looking statements.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 5 INTRODUCTION

SECTION 1 INTRODUCTION

• On January 12, 2015 CNN published an article entitled Rough times ahead for grassroots golf? which pointed out the following:

o The sport stands at a crossroads, with recent years having brought about a major slump in popularity in its traditional heartlands of the U.S. and the UK and Ireland. o 400,000 people reportedly left the sport in the past year in the U.S. alone. o The U.S. has lost five million players in the last decade. o 20% of the existing 25 million golfers in the U.S. are poised to quit in the next few years. o The number of newcomers to the game in the U.S. fell by 20% last year. o The traditional concept of 18-hole golf is struggling to find its place in modern day lives. o The younger generation - the very future of the sport - have more distractions than ever in a world where technology holds sway, as it's Twitter, cell phones, and video games that are the activities that kids are involved in. o In 2014, more courses closed than opened in the U.S. for the eighth straight year.

• As Ben Sharpe, Chief Executive Officer of golf equipment manufacturer TaylorMade, said, "As an industry we can't put our head into the sand, we have to evolve and continually modernize.”

• As is apparent, traditional golf has a problem. A very real and lasting problem. But it is a problem that FOIG Indoor Golf Manufacturers, LLC dba REALiTEE Golf (“REALiTEE” or the “Company”) can help solve, and by helping solve it the Company can create significant value for its stakeholders.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 7 INTRODUCTION

• The Company is an Anaheim, California based limited liability company formed in April of 2015 to develop a golf entertainment experience.

• The Company is currently seeking $12.5 million in equity capital and $22.5 million in debt financing to develop its first REALiTEE Golf venue.

• In its simplest form, REALiTEE Golf combines the well known camaraderie of a golf outing for players of any skill level, with 21st century technology and the relaxed atmosphere of an upscale dining and bar establishment. It can truly be enjoyed by participants of all ages and skill levels, and combines the best attributes of golf while at the same time positioning itself to appeal to millennials and others who do not have the time to play a traditional round of golf.

• REALiTEE Golf is not a “bleeding edge” concept, as the market potential for this idea has already been demonstrated and proven by Topgolf International, Inc., a global company currently operating twenty-six Topgolf golf entertainment complexes in both the United States and the United Kingdom.

• While Topgolf is the current market leader in operating non-traditional golf venues, fundamentally it is nothing more than a high-tech driving range combined with high quality food and beverage services. REALiTEE Golf takes their concept to the next level by allowing the player to experience all of the intricacies and challenges of a real game of golf. It combines cutting-edge simulators for the long game with an actual live play short game, resulting in a more compressed physical setting and an affordable and less time consuming experience.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 8 INTRODUCTION

• The Company has assembled a world class senior management team and equity incentivized strategic partners and consultants to build on the concept created by Dave Shultz, the Company’s founder and visionary.

• The Company has for over one year been in discussions with major global golf sanctioning bodies to explore their perception of the viability of the REALiTEE Golf concept. To date, all feedback from these groups has not only been supportive but encouraging as they all see REALiTEE Golf as a partial solution to the well known problems facing the traditional game of golf.

• The Company and its REALiTEE Golf concept has to date received wide-spread global press coverage.

• The Company has filed a patent application (15228803) to protect its unique hybridized simulation and live play game design.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 9 GOLF INDUSTRY AND ALTERNATIVE GOLF EXPERIENCES OVERVIEW

SECTION 2 GOLF INDUSTRY AND ALTERNATIVE GOLF EXPERIENCES OVERVIEW

• Mark Twain once quipped, “the reports of my death have been greatly exaggerated,” and in many ways golf suffers from the same perception. The Washington Post, in an article dated March 5, 2015 entitled Why America fell out of love with golf, summed it up as follows: “All the qualities that once made it so elite and exclusive are, analysts say, now playing against it. The game - with its drivers, clubs, shoes and tee times - is expensive both to prepare for and to play. It's difficult, dissuading amateurs from giving it a swing, and time-consuming, limiting how much fans can play. Even what loyalists would say are strengths - its simplicity, its traditionalism - can seem overly austere in an age of fitness classes, extreme races and iPhone games.”

• In an interview with CNN in January of 2015, Jack Nicklaus, perhaps the greatest golfer in history, made a strong argument for why new players haven’t been flocking to golf when he said, "I'd like to play a game that can take place in three hours. I'd quite like to play a game that I can get some reasonable gratification out of very quickly -- and something that is not going to cost me an arm and a leg.“

• REALiTEE Golf solves all of the problems both The Washington Post and Jack Nicklaus describe as it is:

o Affordable o Not difficult to play or learn o Fun and gratifying at any skill level o Not as time consuming as a traditional game of golf

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 11 GOLF INDUSTRY AND ALTERNATIVE GOLF EXPERIENCES OVERVIEW

• According to Steve Mona, Chief Executive Officer of the World Golf Foundation, in the United States alone the game is played by 25 million Americans who play 455 million rounds annually at the nation’s 15,350 facilities, making it a nearly $70 billion industry, supporting two million jobs and $55.6 billion in annual wage income.

• Steve Mona also noted that the industry is adapting to provide shorter golf experiences, such as six or nine holes, and non-traditional forms of the game while still upholding the integrity and rules of golf. This will help to increase participation among those seeking a more time-sensitive experience.

• The USGA remains bullish about the future of the game, as according to Mike Davis, Executive Director of the United States Golf Association, since 2002 they have invested more than $1 billion in core programs that support the game by elevating the experience of all golfers by introducing solutions that make the game faster to play, help control costs, and make golf more accessible to more people globally.

• According to Pete Bevacqua, Chief Executive Officer of the PGA of America, golf is on a positive turn and golf participation rates are producing positive momentum, especially among youth, as golf is making an impact across all demographics through new key initiatives such as Get Golf Ready, PGA Junior League Golf and Drive, Chip & Putt.

Source: Forbes Magazine, April 4, 2015 The State of the Golf Industry in 2015

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 12 GOLF INDUSTRY AND ALTERNATIVE GOLF EXPERIENCES OVERVIEW

• Charitable giving is the foundation of the PGA TOUR with each of the sanctioned events structured in a way that net proceeds go back into the communities in which they are played. The PGA TOUR and its tournaments were able to give back more than $140 million in 2014, a single-year record that brought the all-time total to $2.14 billion since the first donation was made in 1938.

• According to Tim Finchem, PGA TOUR Commissioner, golf as a whole generated more than $3.9 billion for charity in 2014, exceeding the annual amount raised by Major League Baseball, the National Football League, the National Basketball Association and the National Hockey League combined.

• The universal popularity of golf is best demonstrated according to Tim Finchem, by the fact that in the United States more than 170 million fans watch PGA TOUR broadcasts, and the TOUR and its players have more than 32 million followers on social media platforms.

• Golf Datatech, LLC and Yano Research Institute Ltd., in their World Golf Report 2015 reported that the United States is the world’s top golf market. Golf Datatech’s Tom Stine was quoted as saying, “Golf is truly a worldwide sport, with the game being played in over 200 countries, but emerging markets for golf such as China, Southeast Asia, Central Europe and South America have just begun to realize their potential. Further, golf’s introduction into the 2016 Olympic Games in Brazil will undoubtedly spark interest in the game worldwide.”

Source: Forbes Magazine, April 4, 2015 The State of the Golf Industry in 2015

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 13 GOLF INDUSTRY AND ALTERNATIVE GOLF EXPERIENCES OVERVIEW

• Despite the negative historic trends in the golf industry as can be seen below, golf did gain a significant number of new players in 2015, an increase of 47% since 2011.

Source: National Golf Foundation as presented in Callaway June 2016 Investor Presentation

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 14 GOLF INDUSTRY AND ALTERNATIVE GOLF EXPERIENCES OVERVIEW

• According to Golf Business Monitor:

o New players in 2015 nearly reached the record of 2.4 million at the peak of Tiger Woods’ popularity o The Get Golf Ready player development program led by the PGA in 2015 (its seventh year in existence) set all-time highs in terms of:

§ The number of graduates (107,485) § Retention rates including 73% after three years and 67% after four years

• According to the National Golf Foundation:

o 37 million people are either “very interested” or “somewhat interested” in learning to play the game. o Nearly 1 in 3 Americans over the age of 6 play, watch or read about golf.

Source: Golf Business Monitor Looking for Alternative Golf Experiences July 25, 2016

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 15 GOLF INDUSTRY AND ALTERNATIVE GOLF EXPERIENCES OVERVIEW

• In order for golf to sustain a positive growth curve it needs to overcome the barriers of cost, time and difficulty. Golf Business Monitor ranks these barriers in order of importance as:

o Difficulty o Time o Cost

• To broaden the appeal of golf, and to attract more millennials as the baby boomers who have historically supported the growth of the sport age out, several new golf related games have come into being. These existing Alternative Golf Experiences (“AGE”) include:

o QikStikGolf o Video game golf o Topgolf o FootGolf o Simulator Golf

Source: Golf Business Monitor Looking for Alternative Golf Experiences July 25, 2016

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 16 GOLF INDUSTRY AND ALTERNATIVE GOLF EXPERIENCES OVERVIEW

• A December 2015 research study conducted jointly by the National Golf Foundation (in association with Golf20/20 and the World Golf Foundation) found that AGE were all inspired by the traditional game of golf, and bring in a significant audience of non-golfers with diverse demographics and expose them to the concept of traditional golf.

• Key findings of their research included:

o AGE exposes golf in a comfortable, fun, non-threatening environment, yet highlights many of the most appealing aspects of traditional golf, e.g., friendly competition and social camaraderie. o Compared to the general population of non-golfers, a much higher proportion of AGE non-golfer participants have an interest in playing traditional golf (30 - 50% versus 11%). o A third or more of AGE participants indicate their experience with AGE increased their interest in playing traditional golf. o AGE is not hurting the traditional game of golf, as it actually increases engagement and frequency of play among current golfers. o Among non-golfers, exposure to AGE has resulted in an increased interest in both playing traditional golf and watching golf on television. o There is an opportunity to leverage AGE as a pathway to traditional golf

Source: National Golf Foundation Alternative Golf Experiences Final Report December 2015

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 17 GOLF INDUSTRY AND ALTERNATIVE GOLF EXPERIENCES OVERVIEW

Source: National Golf Foundation Alternative Golf Experiences Final Report December 2015

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 18 GOLF INDUSTRY AND ALTERNATIVE GOLF EXPERIENCES OVERVIEW

• Contrary to speculation by some in the traditional golf industry, participation in AGE does not negatively impact golfers’ consumption of the traditional game of golf.

• In fact, AGE generally increases golfers’ engagement with the traditional game, including the frequency that they play.

• The most evident of these relationships is Simulator Golf, where many turn to refine their game and then take it to the traditional course.

Source: National Golf Foundation Alternative Golf Experiences Final Report December 2015

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 19 GOLF INDUSTRY AND ALTERNATIVE GOLF EXPERIENCES OVERVIEW

• Many AGE participants indicated that their experience with AGE has increased their interest in playing (“AGE Boost”) as is shown below. All impacts are significant, but Topgolf is especially effective.

Source: National Golf Foundation Alternative Golf Experiences Final Report December 2015

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 20 GOLF INDUSTRY AND ALTERNATIVE GOLF EXPERIENCES OVERVIEW

• While many who participate in AGE are golfers, these offshoots of the traditional game also attract a large number of non-golfers with diverse demographics.

• Among non-golfers, exposure to AGE has resulted in an increased interest in both playing traditional golf and watching golf on television.

Source: National Golf Foundation Alternative Golf Experiences Final Report December 2015

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 21 GOLF INDUSTRY AND ALTERNATIVE GOLF EXPERIENCES OVERVIEW

• Having fun is the number one goal of all AGE participants.

Source: National Golf Foundation Alternative Golf Experiences Final Report December 2015

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 22 GOLF INDUSTRY AND ALTERNATIVE GOLF EXPERIENCES OVERVIEW

• Each of the AGE contributes something different to the resurgence of the sport.

Source: National Golf Foundation Alternative Golf Experiences Final Report December 2015

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 23 TOPGOLF OVERVIEW

SECTION 3 TOPGOLFOVERVIEW

• Topgolf is the current industry leader in AGE, and was originally founded in the United Kingdom by the Jolliffe brothers in 2000. Their original concept was to liven up the driving range experience.

• The Jolliffe brothers partnered with a licensee and built their first three venues in the United Kingdom between 2000 and 2005.

• In 2005 the American licensee together with WestRiver Group (a private equity firm based in Seattle) as the lead investor brought Topgolf to the United States with the opening of the Topgolf facility in Alexandria, Virginia. Concurrently, Erik Anderson, a partner at WestRiver Group was named Co-Chairman and CEO.

• In 2006 Callaway Golf Company (NYSE: ELY) became a minority investor in the company.

• In 2008 the company was incorporated as Topgolf International, Inc.

• In 2011 Thomas Dundon, a Dallas based billionaire, invested in Topgolf International, Inc. One of his business partners, Jonas Woods, described Topgolf as, “It’s like bar and grill meets driving range done bowling alley style.”

• In 2016 Providence Equity Partners (a private equity firm based in Providence, Rhode Island) bought a minority stake in the company, with some portion of the proceeds ear-marked for a leveraged recap of the company.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 25 TOPGOLFOVERVIEW

• EPR Properties, a publicly traded REIT (NYSE:EPR), has provided debt financing to Topgolf to build 19 of its 21 existing American venues according to its Form 10-K for the fiscal year ended December 31, 2015.

• Callaway Golf Company continues to own an approximate 14.6% equity interest in Topgolf International, Inc. which it values at between $207 and $214 million based on the Providence Equity Partners transaction, giving an implied valuation to Topgolf International, Inc.’s equity of between approximately $1.42 billion and $1.46 billion.

• In late January of 2016, the company announced its acquisition of World Golf Tour, the most realistic free online golf game, played by more than 14 million players across the globe. It is the #1 top rated 3D online game, and is seen on NBC Sports, Golf Channel, DirecTV, and Fox Sports. The game is built with cutting-edge GPS and 3D technology, making it the most accurate online full game simulation available.

• In 2015, 923 million holes were played via World Golf Tour and 358 million golf balls were hit at Topgolf. Those numbers are expected to grow significantly in 2016, in large part due to Topgolf’s acquisition of World Golf Tour.

• In addition to this digital expansion, Topgolf is opening venues in Las Vegas and several other key markets in 2016, increasing its projected annual attendance from 8 million to more than 12 million.

Sources: Callaway Golf Company June 2016 Investor Presentation, and http://www.golfdigest.com/story/topgolf-is-about-to-get-even-better-af ter-its -latest-acqu isition-world-golf-tour

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 26 TOPGOLFOVERVIEW

• In order to support its expansion ambitions, the company restructured itself during 2016 and created three new divisions:

o Topgolf, focused on the golf entertainment venues in the United States and United Kingdom. o Topgolf International, the division focused on Topgolf's international expansion. o Topgolf Media, the division focused on enhancing the Topgolf experience through advanced digital media, strategic partnerships and sponsorships.

• Because Topgolf is privately held it does not report any financial information publicly. However, in a January 24, 2014 “Callaway Golf Investor Presentation” prepared by Park City Capital, a value-oriented investment management firm located in Dallas, Texas, Park City estimated that the typical Topgolf venue generates approximately $11 million annually in revenue and achieves an approximate 40% EBITDA margin. Using these estimates would imply that in 2015 Topgolf International, Inc. achieved revenues of approximately $264 million and EBITDA of approximately $106 million.

Source: http://www.golfdigest.com/story/topgolf-is-about-to-get-even-better-after -its-latest-acquisi tion-world-golf- tour

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 27 TOPGOLFOVERVIEW

Source: Topgolf International, Inc. management

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 28 TOPGOLFOVERVIEW

Source: Topgolf International, Inc. management

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 29 TOPGOLFOVERVIEW

Source: Topgolf International, Inc. management

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 30 TOPGOLFOVERVIEW

• Topgolf’s demographic draw during 2015 is shown below.

Source: Topgolf International, Inc. management

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 31 TOPGOLFOVERVIEW

• Topgolf’s demographic draw during their operating hours is shown below.

Source: El Segundo, California City Council Meeting Presentation of November 5, 2013

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 32 TOPGOLFOVERVIEW

• The typical Topgolf facility is approximately 65,000 square feet and includes numerous activity options.

Source: Topgolf International, Inc. management

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 33 TOPGOLFOVERVIEW

Source: Topgolf International, Inc. management

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 34 TOPGOLFOVERVIEW

• The Topgolf game is based on proprietary technology.

Source: Topgolf International, Inc. management

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 35 TOPGOLFOVERVIEW

Source: Topgolf International, Inc. management

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 36 TOPGOLFOVERVIEW

Source: Topgolf management and ESPN. Attendance shown is in millions.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 37 TOPGOLFOVERVIEW

• From its beginnings in 1999 by the Jolliffe brothers as a way to make the driving range experience more enjoyable, Topgolf’s ambitions have changed radically, for as noted by Erik Anderson, Topgolf International’s Co-Chairman and Chief Executive Officer, “Our vision is to be a global sports entertainment community creating the best times of your life. To really embody that vision, though, we see opportunity in one-of-a-kind entertainment experiences and features. We see opportunity in building Topgolf as a lifestyle brand – synonymous with fun. When we started, we were focused on taking traditional golf outside its comfort zone and creating a more millennial experience. Now, we’re really competing with the traditional night out. Topgolf is a unique alternative to dinner and a movie or bowling. Skill level, budget, time and dress code no longer matter. It’s all about bringing people together. That has challenged us to find bigger, more creative ways to entertain our fans. So, we’re starting to incorporate venue enhancements into our new locations. Las Vegas, for example, will have a swimming pool for our guests to enjoy. Other venues on the horizon include a stage for live music. We’ll host concerts, and through our Topgolf Media division, we can share those concerts with all of our venues across the Topgolf network.”

• These new broader global entertainment venue ambitions create the perfect opening for REALiTEE to enter the market, as Topgolf has unequivocally proven the market potential and REALiTEE Golf’s combination of state of the art “long game” simulated play with real world “short game” play will take the AGE to an entirely new level.

Source: http://www.forbes.com/sites/jefffromm/2016/01/29/topgolf-to-re-imagine-sports-entertainment-for-millennials-with-world-golf-tou r-acquisition/#44cf6366387d

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 38 REALiTEE COMPANY OVERVIEW

SECTION 4 REALiTEE COMPANY OVERVIEW

• REALiTEE was founded in April 2015 by Dave Shultz to develop and commercialize the world’s first authentically majestic indoor golfing experience integrating simulation play with live play for the short game within a real golf environment.

• Dave’s vision for REALiTEE Golf is to be synergistic with existing golf course operations as an alternative for “year-round” play that also demonstrates a commitment to environmental sustainability. In order to achieve this the Company established the following goals:

o To create a world class practice course for serious players in a positive environment that also introduces new players to the game. o To establish a course with broad appeal to women and children inclusive of casual family focused play. o To create a technology driven, fun golf experience that plays faster and accommodates a new breed of memberships through a commitment to innovation. o To increase revenue through top notch dining experiences, corporate and special events, pro shop/retail sales, coaching and player analytics. o To add new tournament formats (more inclusive for newcomers) and an increased capacity for group tournaments. o To create a popular gathering space for all members to enjoy.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 40 REALiTEE COMPANY OVERVIEW

• In order to accomplish its vision, REALiTEE determined that its mission would be to use the innovation inherent in REALiTEE Golf to deliver an unmatched experience by:

o Creating an environment where beginners and experts can positively co-exist. o Combining the best of digital technologies with the beauty of the real world game. o Exciting people and making them feel better ensuring the desire to return again and again. o Combining golf and “appetizing” fun entertainment that will entice more people to immerse themselves in the true pleasures of real golf.

• REALiTEE intends to revolutionize golf over the next decade, creating an unrivalled entry-point to the sport for newcomers. In that regard, and like Topgolf, patrons will not need to identify as “golfers” in order to enjoy the experience, as according to Dave Shultz, “Complete beginners will play alongside committed golfers without fear of being in the way or overshadowed, but at the same time they will have an authentic golf experience boosted by some dazzling modern technology which we think will prove highly addictive.”

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 41 REALiTEE COMPANY OVERVIEW

The following individuals comprise REALiTEE’ssenior management team:

Dave Shultz – Founder and Chief Executive Officer Anthony Prechtl – Chief Technology Officer Dave is the founder and Chief Executive Officer of REALiTEE. Anthony is a software developer specializing in large-scale system Prior to REALiTEE, from 2002 to 2016, Dave was Global architectures. He is responsible for laying the foundation of Engineering Leader for General Electric Corporation managing REALiTEE Golf’s software and technology. Prior to his position at construction, justifying capital investments, leading a team of REALiTEE he worked as a software developer for Three Dragons, 300+ globally dispersed field service and in-house repair a nationally recognized real estate consultancy, creating economic employees, developing and deploying process improvements, and models to predict the viability of housing developments. Anthony influencing culture in support of a customer service mindset. He holds a Ph.D. in Computer Science from the Open University in has proven himself to be a successful global leader with the United Kingdom where he received funding to develop responsibilities that expanded from single site to international. He algorithms that automatically generate music for games. graduated summa cum laude and first in his class with a degree in Electronic Engineering at Cal Poly San Luis Obispo.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 42 REALiTEE COMPANY OVERVIEW

The following individuals comprise REALiTEE’ssenior management team:

Keith Lane – Creative Director Keith Lane has won over 500 creative awards for his work at major shows such as: The Clios, Emmys, Communication Arts, One Show Gold, The Hatch Awards, including 2 Best of Shows, Andy Awards, London Art Directors Show, Paris Creative Show, Tokyo Creative Awards, and The International Film & TV Festival Gold Medal. Keith was the Founder, Partner, and Creative Director of the highly respected advertising and marketing communications firms Emerson Lane Fortuna and Arnold Fortuna Lane, now known as Arnold Worldwide. He was recently honored as one of the 100 top creative influencers of the past 100 years. Keith is a creative mentor at Boston University’s College of Communication, has spoken at Harvard University, and continues to speak at Babson College on branding, communications, public relations, social media, art direction and copywriting.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 43 REALiTEE COMPANY OVERVIEW

The following individuals comprise REALiTEE’ssenior management team:

Zeb Welborn – Social Media Marketing Zeb Welborn is a social media marketer who is passionate about growing the game of golf. He is author of the book, The Social Golf Course: Increasing Rounds with Social Media, and president of 19th Hole Media, a company that provides online marketing services to golf courses and golf-related businesses in Southern California and across the United States.Zeb has been named as a “Game Changer” by Southland Golf Magazine, and as one of the Top 10 Most Innovative People in Golf Marketing by Golf Inc. Magazine. Additionally, he has presented at the Golf Inc. Strategies Summit, the Crittenden Golf Conference, KemperSports Annual Meeting, as well as the California Golf Course Owners Association. Zeb saw his passions intersect when he began working with Los Serranos Country Club in Chino Hills, CA on their online presence. While there, the club was recognized by the California Golf Course Owners Association as the 2012 Course of the Year. His business, Welborn Media, later won the 2013 Chino Hills Business of the Year award. In 2015, Zeb was elected Chairman of the Board of the Chino Valley Chamber of Commerce.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 44 REALiTEE COMPANY OVERVIEW

The following individuals comprise REALiTEE’sBoard of Advisors:

Ken Button – Advisor Paul Burke – Advisor Ken is the co-Founder and CEO of ContractSafe. He has 20+ Paul is Head of Agency & Trust Sales for North America for Citibank, years of experience in founding, leading, investing in and advising N.A.. Prior to Citibank, Paul was Managing Director and Head of Client Relations for Ambac Assurance Corporation. From 1997 growth companies. Ken was also a co-founder of Verengo Solar, through 2001 he was a Managing Director in the Asian and European which grew from a start-up to over $100 million in sales. Securitization businesses of JPMorgan Chase. Prior to his position at Previously, Ken served as a senior executive at ePolicy Solutions, JPMorgan Chase, Paul held several positions in the field of global asset which was sold to a subsidiary of ChoicePoint, and practiced law backed securities including Head of Emerging Markets Securitization at O’Melveny & Myers and Winston & Strawn. Ken is a member at Standard Chartered Bank, and was in charge of Latin American ABS of Young Presidents Organization, and is on the Board of Advisors at Kidder-Peabody. Paul started his career as a corporate finance of the UCLA Institute of the Environment and Sustainability. He attorney at Debevoise & Plimpton. He is currently Co-Chair of the Trustee Committee of SFIG; and has spoken at numerous received a J.D. from the UCLA School of Law and an securitization industry conferences globally. He holds a J.D. from undergraduate degree from the University of California at Harvard Law School and a BA in English from Amherst College. Berkeley.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 45 REALiTEE COMPANY OVERVIEW

The following individuals comprise REALiTEE’sBoard of Advisors:

Steven Metayer – Advisor Steven is a dynamic globally experienced executive with in-depth and diverse experience in large corporate “C-Suite” settings. Steven served as General Manager for General Electric Worldwide for fifteen years and has superior leadership and technical skills, with top level expertise in financial management, business development, strategic planning, sales and marketing, program management, contracts, technical operations, supply chain operations, engineering leadership, quality manufacturing operations, lean manufacturing, labor relations, and international business development. Steven is adept at analyzing complex issues, formulates winning strategic innovations to lead companies into growth driven enterprises, and takes a dominant role in major business development initiatives. In his career he has integrated six acquisitions, consolidating operations, aligning strategies, improving performance and divesting and most importantly delivered $100 million of cost savings and $120 million of realized gains. Steven has served on the Board of Directors for Montana Precision Products, and for SED International, a $600 million distributor of consumer electronics, computer technology and housewares. Steven has an MBA from Boston University.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 46 REALiTEE COMPANY OVERVIEW

The following companies comprise REALiTEE’scurrent strategic partner team:

Robert Trent Jones II Golf Course Architects DWL Architects + Planners, Inc. Robert Trent Jones II Golf Course Architects are trustees of the DWL Architects + Planners, Inc., is an award winning architectural great tradition of golf course architecture. On their courses nature design firm that has earned a reputation for thoughtful design and works in harmony with the relevance of the royal game. They have flawless execution. Founded in 1949, DWL has grown into a regional designed more than 270 golf courses in more than 40 countries on architectural practice responsible for major projects in Arizona and six continents, and courses they have designed have hosted across the country. DWL is committed to developing world-class tournaments on every major golf tour in the world such as The designs that protect the environment through sustainability efforts; World Cup of Golf, The Skins Game, and The Grand Slam, as they and has a long history of creating ‘people places,’ buildings and urban set the standard for quality golf course design anywhere in the spaces that respond to function, human scale, and emphasize user world. Over the past 40 years, Robert Trent Jones, Jr. has friendly design solutions. Their work on some of the most complex expanded his father’s golf design legacy by founding an innovative and architecturally significant projects has been recognized locally, modern golf course design firm with a global reach, an nationally and internationally. environmental ethic, and a reputation for creating value, as he carries on the proud heritage of golf course architecture’s most enduring name.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 47 REALiTEE COMPANY OVERVIEW

The following companies comprise REALiTEE’scurrent strategic partner team:

TruGolf Inc. Sports 1 Marketing TruGolf was originally a subsidiary of Access Software and was Sports 1 Marketing is a global sports and entertainment marketing formally spun off from the company in 1999 when Access Software agency that leverages over $20 billion in relationship capital and over was purchased by Microsoft for their expertise in multi-award- 38 years of business experience, bringing athletes, celebrities and winning golf software development. Following the spin-off TruGolf businesses together to make a lot of money, help a lot of people, and maintained the core programming and graphics team of Links™, the have a lot of fun. The company was founded by NFL Hall of Fame best selling PC golf franchise ever; and they have continued to Quarterback Warren Moon and veteran sports and technology refine their software and technology designing the industry executive David Meltzer. standard and top selling golf simulator software, E6, which is used in more golf simulators around the globe than any other golf simulator software.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 48 REALiTEE GOLF OVERVIEW

SECTION 5 REALiTEE GOLF OVERVIEW

• REALiTEE Golf will address golf’s global challenges of declining participation and an aging demographic by placing spectacular cutting-edge golf complexes in urban areas offering affordable and authentic golf, entertainment, and leisure facilities for golf enthusiasts, golfing novices, and families under one roof.

• Unlike Topgolf, which has already proven the market opportunity, REALiTEE Golf allows its patrons to experience the latest in virtual golf technology as they are able to step into the “tee box” and experience driving their ball down some of the world’s most famous fairways in a TruGolf simulator before they transition to the live play area to play their final shots in a real-life, full-size putting and chipping area.

• At a REALiTEE Golf venue, golfers will hit their drives and most fairway shots into a TruGolf simulator screen, before stepping into an open space where ceiling-mounted laser lighting will show players where to place their ball when they transition to the live play area to continue their hole. From that point, REALiTEE Golf offers authentic golf play involving chipping and putting on real-feel artificial grass with hazards, slopes and greens leading to the final putt into the hole.

• Once players have completed their hole, they can then either complete additional holes in the live play area or begin new ones back in the simulator according to their personal preferences. They can also play alongside different partners at various stages throughout their game. This flexibility to accommodate individual preferences and group dynamics is central to REALiTEE’svision for the game.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 50 REALiTEE GOLF OVERVIEW

• More than 147 players will be accommodated at any one time in the typical REALiTEE Golf venue, with up to eighteen golf simulators and 18 flagsticks. The space needed is less than 2 acres, in stark contrast with the 100+ acres normally needed for a traditional golf course.

• Customers will be able to choose from a variety of REALiTEE booking options, from hourly play to long- term memberships, and the venues can also be booked out for large group events which can run late into the evening if required.

• The Company’s belief is that all of the existing options for indoor and driving range golf, including Topgolf, are sub-par as either the player is locked into a totally simulated environment, or is hitting balls at distant targets without the ability to walk forward and complete a hole.

• Aside from REALiTEE Golf, the only option to experience a complete hole of golf including the drive, the approach and the short game is to visit a golf club to play at a full-size course, which can be a highly intimidating as well as expensive experience, especially for beginners.

• A full 18 hole game of REALiTEE Golf is designed to be played in less than two hours, and also has the unique feature of allowing players to save their games and return another day, picking up exactly where they left off.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 51 REALiTEE GOLF OVERVIEW

• Each hole is started in a simulator, and continued until the ball comes to rest within a 40 yard radius of the flagstick.

• The simulator may “boost” the performance/ball flight for beginner players and children.

• Younger children may hit a ball more reminiscent of a tennis ball.

• The number of strokes taken to reach 40 yards will be stored on a “smart watch” that each player will check-out as part of the game.

• The smart watch will guide players to their ball in the live play arena, and will also activate a laser which will shine down onto the playing surface indicating to the player precisely where to place their ball for the next shot. Live caddies will also be an available option for placing the ball.

• Beginning players will be directed to easier locations to play from than experienced players, and they will “meet at the flagstick” if playing together.

• After finishing the hole in the live play area, a simple interface on the watch will store the total number of shots taken to complete the hole.

• Creative lighting effects, powerful sound systems and wall projections will be able to replicate a variety of golfing environments from sunny mountain vistas and seaside links to spectacular night golf and even nightclub and party environments.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 52 REALiTEE GOLF OVERVIEW

• A Utility Patent has been filed for (provisional application 62/201,178 entitled Transition Software For Hybrid Golf Course) to protect the concept of REALiTEE Golf, as the patent claims a method for a hybrid solution utilizing traditional golf simulators in conjunction with an expansive live play environment.

• The virtual simulator has a software platform that allows players to transition from a golf simulation environment onto a live playing field. The golf virtual simulator adjusts for individual player preferences such that players can increase difficulty and challenge as their skill level improves. A software map shows the logical process of the golf simulator.

• The player hits a ball in the simulator and the simulator senses the position and motion of the shot to calculate a starting location on the live play environment. The transition gives the illusion that the player has hit the ball down the fairway and is walking to the ball for close game shots on the green or near the green.

• As the player walks into the live play area, a position indicator generated by an overhead mounted laser projects an augmented reality indication of where the next ball will be hit. The player can place the ball themselves, or a human caddy can place the ball based upon the augmented reality indication. The lighted indicator is generated from the algorithm which correlates the virtual golf simulator data with a location on the live play golf course. The lighted indicator can also include player identifying information such as a player number or a player name, and can be customized for additional game variability.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 53 REALiTEE GOLF OVERVIEW

• The virtual fairway apparatus includes a screen, player area, a ball sensor and a processor calculating a virtual ball lie from sensor input taken from the virtual fairway stroke. The processor calculates a ball placement location based on the virtual ball lie.

• The processor checks if the virtual ball lie is on the green area or the fairway area, and if the virtual ball lie is on the fairway area, the processor continues the virtual fairway play until the player is on the green area, and if the virtual ball lie is on the green area, the processor refers the player to the live play area.

• The processor calculates a ball placement intersection from the virtual ball lie, and the ball placement intersection includes an x-coordinate line and y-coordinate line.

• The virtual and live play hybrid optionally has a visual indicator marked on the playing field that indicates initial ball placement. The location of the visual indicator is calculated from the virtual ball lie.

• A software algorithm provides a scaled difficulty. The ball placement location is scaled to be closer to the hole target or further from the hole target than the virtual ball lie depending on user preferences. In a one to one mode the ball placement location is equivalent to the virtual ball lie.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 54 REALiTEE GOLF OVERVIEW

• REALiTEE Golf’s prototype venue is designed to be approximately 98,940 square feet of building which will house eighteen TruGolf simulators, the check-in and locker room areas, and a upscale bar and restaurant built on a site of up to 2.0 acres allowing for 18 holes of live short game play action, all of which will be enclosed so that weather will never be a factor.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 55 REALiTEE GOLF OVERVIEW

• The building footprint is approximately 79,775 square feet and is comprised of a 68,700 square foot live play area and a 3-story 26,000 square foot entertainment hub. The multi-floor entertainment hub consists of the following:

o Lower Level: 11,075 Square feet – 18 golf simulators, Lounge & Bar, Operations, Storage, loading dock, and restrooms. o Main Level: 8,075 square feet – Restaurant & Kitchen, Lounge & Bar, Retail Store, Restrooms, and a 2,300 sf Patio Deck that overlooks the live play area. o Upper Level: 6,925 square feet – Conference, Offices, Storage, restrooms, and a 1,865 square foot Patio Deck that overlooks the live play area.

• The live play area’s 40-foot floor to ceiling height will consist of metal roofing over long span steel members to allow for little to no columns within the interior space. The majority of the 140 foot wide space will be enclosed with site cast concrete and an architectural metal panel cladding. On the interior, a Facid-like fabric system will cover the exposed ceiling and wall structures. The live play area’s grass surface will be artificial turf.

• Precast concrete panels, steel, glass, and glass panels make up the entertainment hub’s exterior finishes, and will allow for ample natural light at the entry, and open views of the live play area. The 14’-6” floor to floor structure will consist of concrete flooring over metal decking and structural steel members.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 56 REALiTEE GOLF OVERVIEW

• The entertainment hub’s interior will be finished with coated concrete floors throughout, with limited use of wood flooring at the restaurant and lounge seating areas, and carpeting in the conference room.

• Interior walls will be of durable materials; painted gyp board throughout and tile in the restrooms, food prep area, and kitchen.

• Ceilings will be left exposed over the main public spaces, including the restaurant, lounge and bars, and conference room. The conference room ceiling will incorporate acoustic panels, and the remaining ceilings located above circulation areas and the kitchen and food prep areas will be painted gyp board.

• Each REALiTEE Golf location is expected to include between 250-300 parking spaces.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 57 REALiTEE GOLF OVERVIEW

• Players will wear REALiTEE smart watches featuring patent- pending technology, which will act as high-tech scorecards and 1 guide them through the experience. The perfect digital playing companion, the interactive REALiTEE smart watch will also provide directions and playing options, will enable golfers to join friends, and will even enable food and drink orders to be placed.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 58 REALiTEE GOLF OVERVIEW

• Players will check-in using their REALiTEE Golf smartwatch prior to being directed to their location of play, and are subsequently directed to any of the 18 flagsticks to complete their hole. It is important to understand that players will always be routed automatically to the least occupied part of the live play area. 2

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 59 REALiTEE GOLF OVERVIEW

• Players will check-in using their REALiTEE Golf smartwatch prior to being directed to their location of play, and are subsequently directed to any of the 18 flagsticks to complete their hole. It is important to understand that players will always be routed automatically to the least occupied part of the live play area. 3

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 60 REALiTEE GOLF OVERVIEW

• Upon arrival, patrons will be greeted by an architecturally significant building designed by DWL Architects + Planners, Inc.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 61 REALiTEE GOLF OVERVIEW

• Dining facilities will allow patrons to relax while watching outdoor live play, providing a country club like experience.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 62 REALiTEE GOLF OVERVIEW

• Play starts in state of the art simulators designed by TruGolf, the world’s most experienced creator of golf simulators, before transitioning to the outdoor and fully enclosed live play area. Each group of up to four players is assigned a dedicated simulator.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 63 REALiTEE GOLF OVERVIEW

• Players can choose to play all 18 holes in the simulator before venturing out for the short game, alternate between long and short, or even intermingle a few holes of each. Bags are left in the simulator area with only select clubs brought to the fully enclosed live play short course.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 64 REALiTEE GOLF OVERVIEW

• There is seamless laser guided integration between the short and the long game. The walk from the simulator to the ball position on the short course is a fraction of what it would be on a traditional course.

LASER

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 65 REALiTEE GOLF OVERVIEW

• The fully enclosed live play area, designed by Robert Trent Jones II Golf Course Architects, will feature 18 holes of challenging short game and putting play.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 66 REALiTEE GOLF OVERVIEW

• The short game is played across nine greens (1,800 to 3,400 square feet) designed by Robert Trent Jones II Golf Course Architects with eighteen unique pin locations including sand/water traps and undulating topography that emulate the real on course experience.

Upper Level Clubhouse Removed to show Simulators

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 67 POTENTIAL COMPETITORS

SECTION 6 POTENTIAL COMPETITORS

• In addition to Topgolf, the Company may face additional AGE competition from Spot Golf, LLC’s proposed Spot Golf venue.

• Spot Golf, LLC was formed in 2013 by a team of golf, gaming, entertainment, and hospitality innovators, and has entered into an exclusive global master license and service agreement for FlightScope's world leading and cutting edge tracking technology.

• The FlightScopetechnology will power the Spot Golf game system that company executives say will respect and preserve the appeal of traditional golf while adding fun and challenging games to Spot Golf driving range game center facilities.

• Similar to both Topgolf and REALiTEE Golf, Spot Golf intends to combine state-of-the-art ball and club tracking technology with exciting game software, social media engagements, and outstanding customer-centric food, beverage, and entertainment options.

• The Spot Golf game system uses unaltered regulation golf balls and a number of cutting-edge technologies to precisely record club and ball trajectory and the actual landing spot of the ball.

• In a press release dated June 30, 2015, approximately fourteen months ago, Spot Golf, LLC stated that they would announce its first location during the Fall of 2015. To date, no such announcement has been made and Spot Golf, LLC has issued no further press releases relating to any subject since July 2, 2015.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 69 POTENTIAL COMPETITORS

• In addition to Topgolf, the Company may face additional AGE competition from Newcastle Investment Corp.’s Drive Shack concept.

• Newcastle is a publicly traded real estate investment trust that focuses on making real estate secured mortgage loans and owning, leasing and managing 85 golf courses across 13 states.

• Newcastle has approximately $253 million of shareholder equity supporting a balance sheet with approximately $1.7 billion of total assets. It is managed by an affiliate of Fortress Investment Group LLC, a global investment management firm.

• Newcastle entered into a joint venture with Taylor Made Golf Company, Inc. to build out Drive Shack Holdings LLC, an innovative global golf entertainment company.

• Similar to Topgolf, Drive Shack intends to provide an active entertainment outlet that consists of technologically enhanced golf ranges with hitting suites as well as bars and restaurant areas.

• Newcastle expects to have between three and five Drive Shack venues under development by year-end 2016, each costing between $15 and $20 million to develop.

• Each Drive Shack venue is anticipated to generate approximately $5 million of EBITDA.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 70 POTENTIAL COMPETITORS

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 71 FINANCIAL PROJECTIONS

SECTION 7 FINANCIAL PROJECTIONS

• The following financial projections are based on certain assumptions, some or all of which may turn out to be incorrect. The key assumptions upon which the projections are based include the following:

o Total cost of a REALiTEE Golf venue, including permits, fees, and interest costs is anticipated to be $30 million.

o The venue will host between 400 and 500 patrons at any one time.

o 75 players will be able to experience live play simultaneously at a cost per player of $20 per hour.

o The 18 simulators will generate $80 per hour of revenue.

o Permanent conventional mortgage financing of 75% of the cost of a REALiTEE Golf venue (i.e. anticipated permanent mortgage financing of $22.5 million) will be available at a 5.00% interest rate and a 15 year term.

o The venue’s restaurant will have an average check of $24.26 per patron, and the bar will have an average check of $34.00 per patron, generating approximately $4.6 million in annual revenue during its first year of operations.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 73 FINANCIAL PROJECTIONS

• Shown below are the projected sources and uses of the financing the Company is seeking.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 74 FINANCIAL PROJECTIONS

• Shown below are is the anticipated Cap Chart for the Company.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 75 FINANCIAL PROJECTIONS

• Shown below is the Company’s current rough order of magnitude (“ROM”) projection of the cost to construct a REALiTEE Golf venue. Not included in the ROM cost shown below is the cost for the simulators themselves, audio/visual and special lighting equipment, kitchen buildoutand all fixtures, furnishings and equipment, the cost of developing the live play area, as well as fees, permit costs, financing costs and interest carry. Adding those costs into the ROM for the venue itself is anticipated to bring the total cost of developing a REALiTEE Golf venue to $30 million.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 76 FINANCIAL PROJECTIONS

• Shown below are the Company’s projected Balance Sheets.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 77 FINANCIAL PROJECTIONS

• Shown below are the Company’s projected Income Statements.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 78 FINANCIAL PROJECTIONS

• Shown below are the Company’s projected Statements of Cash Flow.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 79 FINANCIAL PROJECTIONS

• Shown below is the projected internal rate of return to investors in the Company assuming a single venue is developed and there is a liquidity event at the end of the fifth year.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 80 TRANSACTION MERITS

SECTION 8 FINANCIAL PROJECTIONS

• Golf is the most popular spectator sport in the world in terms of its viewing audience.

• Golf is going through a period of “re-engineering” to broaden its appeal, especially to the millennial generation. This “re-engineering” has taken the form of emergence of Alternative Golf Experiences.

• Topgolf is currently the premier Alternative Golf Experience, and has demonstrated the financial and market viability of a user friendly, exciting and socially focused alternative to historic driving ranges.

• REALiTEE can provide its patrons with a golfing experience that surpasses that offered by Topgolf due to its seamless integration of simulator based “long game play” with challenging “short game” and putting experiences on a “short course” designed by the world famous Robert Trent Jones II Golf Course Architects firm.

• Topgolf’s own research demonstrates the untapped market potential for a significant number of REALiTEE Golf facilities within the United States, and its estimated 40% EBITDA margin provides strong value creation opportunities for REALiTEE’sinvestors and other stakeholders.

• REALiTEE’spatent-pending technology and simulator based long game play will have broad appeal both to millennials and to young players just trying golf for the first time.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 82 FINANCIAL PROJECTIONS

• The projected internal rate of return for the investors is 30.8% based on a five year holding period and investors purchasing a 60% interest.

• EBITDA margin in the first full year of operations is projected to be 22.7% increasing to 43.9% during the fifth year.

• Revenue is projected to increase from approximately $11.1 million in the first full year of operations, assuming only a 41% utilization rate, to approximately $22.9 million in the fifth year of operations.

FOIG INDOOR GOLF MANUFACTURERS, LLC CONFIDENTIAL 83 CONTACT INFORMATION

FOIG Indoor Golf Manufacturers, LLC 1071 North Tustin Avenue Anaheim, CA 92807 www.realiteegolf.com

Dave Shultz Founder Tel: 714-951-7747 [email protected]