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CORPORATE OVERVIEW June 2020 MERIDIA CAPITAL PARTNERS

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CORPORATE OVERVIEW June 2020 MERIDIA CAPITAL PARTNERS CORPORATE OVERVIEW June 2020 MERIDIA CAPITAL PARTNERS Leading independent Spanish alternative investment manager • Partner of reference in Spanish private markets for • Proven track record: consistently achieved some of the world’s largest and most respected above average returns successfully institutional investors investing/divesting across cycles • Established manager, founded in 2006 • Experienced and multidisciplinary team: 26 people across two offices: Barcelona and Madrid • Over €850M of equity raised since inception plus c. €250M of Assets Under Advisory • Various investment vehicles across two main • Socially responsible: committed to creating a positive business divisions: Real Estate and Private Equity impact in the community through our investments Member of: Firm of the Year Southern Europe: MISSION AND VALUES INTEGRITY Our investments are analyzed and managed in accordance with the highest ethical values. Transparency is a must in everything we do. Our purpose is to EXCELLENCE implement investment strategies that create We seek to be the best in everything we do. We set the greatest value and bring best working and moral standards and aim to surpass them in all our actions. in class solutions to our investors and the ENTREPRENEURSHIP community An agile and flexible professional environment allows us to differentiate ourselves through creative thinking. We strongly encourage personal accountability across every level of the organization. SOCIAL IMPACT Responsibility is embedded into every decision we make. Careful management of ESG factors is of the utmost importance to the firm, our investments and the community. OUR BUSINESSES MERIDIA CAPITAL PARTNERS MERIDIA ADVISORY SERVICES REAL ESTATE PRIVATE EQUITY ADVISORY ACCOUNTS AUM ≈ €500M(1) AUM ≈ €105M AUA ≈ €250M Meridia II Meridia Private Equity I Meridia III Meridia IV (1) Only considering managed equity in currently active vehicles. OUR HISTORY 2001 2006 2007 2014 Acquired Hotel Arts Sold Hotel Arts Launched Meridia I (Hospitality) Launched Meridia II (RE) Founded Meridia Capital Partners Exited Meridia I (Hospitality) 2015 2016 2018 2019 Launched Mnext (VC) Launched Meridia III (RE) Agreement Franklin Templeton SIF Partnership with Partners Group AG Launched Meridia PE I Launched Meridia IV (RE) REAL ESTATE Meridia Capital is one of the most established value-add real estate players in Spain, offering investors a unique platform to unlock value in the Iberian market OVERVIEW INVESTMENT BREAKDOWN (1) Invested globally Well balanced diversification across asset types and strategies with €1.2 bn since inception concentration in Spain’s two most liquid markets Invested in Spain 14% €900 M 24% 4% 40% 50% 3% 35 Deals 32% 33% Sqm +800,000 Office Hotel Logistics Other Barcelona Madrid Spain - Other Rest of World (1) Based on equity for all assets in Meridia I, II, III and IV CURRENTLY ACTIVE RE VEHICLES MERIDIA II MERIDIA III MERIDIA IV 12 deals 12 deals 4 deals so far Launched 2014 Launched 2016 Launched 2019 Equity of €150M Equity of €220 (incl. discret. co-inv.) Equity of €250M – 300M Value-add CRE Value-add CRE Value-add CRE Spain (focus Mad/Bcn) Spain (focus Mad/Bcn) Spain (focus Mad/Bcn) + Portugal Already in liquidation Fully invested and exiting Investing Outperformed Excludes Meridia I, which was successfully liquidated in 2014. PRIVATE EQUITY MERIDIA PRIVATE EQUITY I Launched in 2016 Equity of €105M Multi-sector (lifestyle) Proven business models with significant growth potential Spain Almost fully invested • Investment: Sep 2016 • Investment: Jan 2017 • Leading producer and distributor of technical food • Restaurant and hotel operator with 28 ingredients for the gastronomy segment restaurants and 5 hotels • Nov 2016 – Leading French group Savencia entered Sosa • Investment: May 2018 • Investment: Jun 2018 • Spanish multi-channel supplier of football equipment • Spanish-based low-cost airline connecting • Strong online presence small-mid sized European cities • Investment: Apr 2019 • Investment: Dec 2019 • Leading integrated pet-care specialist in Spain and • Global incumbent in the design, manufacture Portugal with growing network of over 125 pet stores, and commercialization of automatic fresh 75 veterinary clinics and 8 hospitals fruit juice extraction machines • Exited: Dec 2019 ADVISORY ACCOUNTS Meridia acts as advisor to specific vehicles through operating and management agreements. Meridia provides experience and support in areas such as origination, investment and asset management. PROJECT FORTE FRANKLIN TEMPLETON MNEXT VENTURE CAPITAL SOCIAL INFRASTRUCTURE FUND 2019 – Present 2018 – Present 2015 – Present Managing a Spanish portfolio owned by Exclusive advisor to Franklin Templeton’s pan- 8 portfolio companies. European Social Infrastructure Fund in Spain global private markets investment Supporting local entrepreneurial ecosystems. manager Partners Group AG (sold by and Portugal. Meridia II in April 2019). The Fund invests in real estate assets with the 18 buildings with a GLA of over 90,000 sqm objective of making a positive social and located mainly in Barcelona and Madrid. environmental impact in the community while also achieving financial returns. First acquisition in Iberia closed in 2018. PREVIOUS TRACK RECORD MERIDIA I HOTEL ARTS Top 10% performer Launched 2007; liquidated 2014 Disposal achieved 2001: Mr. Faus assembled amongst 2007 global real highest price ever paid consortium for €235M acquisition of Equity of €150M estate funds. Fourth best for a single real estate real estate portfolio HOVISA, owner asset in Spain. performing fund in Europe. Hospitality of Hotel Arts (Ritz-Carlton) in Source: Preqin Global (focus Latin America, Europe) Transaction used as Barcelona. case study in some of the world’s most 2006: led disposal to GIC renowned business (Government of Singapore) ABP and schools. Host Hotels & Resorts for €417M. TEAM MANAGEMENT COMPANY Javier Faus Cristina Badenes José Luis Raso Elisabet Gómez Paula Piera Cristina Gil Laura Ligüerre Chairman Partner CFO Head Legal & Compl. Associate Analyst Legal & Compl. Head IR & Corp. Dev. IR & Corp. Dev Finance REAL ESTATE Juan Barba Victor Iborra Marta de Azlor Claudia Dalla-Chiesa Roberto Vargas Partner Director Associate Director Associate Analyst Head Real Estate Head Investments Investments Investments Investments Rita Torres Zulema Canosa Sandra López Marina Breda Jorge Romero Abel Sánchez Senior Associate Senior Associate Associate Associate Associate Analyst Asset Management Asset Management Asset Management Asset Management Asset Management Asset Management Adrian Clarke Jaime Monzó Director Associate Head Project Mgmt. Project Management PRIVATE EQUITY David Torralba Guillermo Galmés Jose María Mateu Partner Director Associate Head Private Equity SUPPORT STAFF Ester Gallegos Arina Butorina Luciana Orellano Assistant Assistant Assistant TEAM KEY SENIOR MEMBERS Founder of Meridia Capital Partners As a prominent investment professional, Mr. Faus has managed numerous investments/divestments since 2001, mostly in Real Estate in Spain and Latin America and in Private Equity and Venture Capital in Spain. Since founding Meridia Capital Partners in 2006, he chairs the Board of Directors and all its Investment Committees. Since 2019 President of Círculo de Economía. Since 2016 Director of Indukern, a pharmaceutical and chemical group. 2010 – 15: Vice Chairman at FC Barcelona. 2010 – 14: Director of Colonial, one of the leading publicly traded Real Estate companies in Spain. Javier Faus 2003-06: Iberian Managing Partner for Patron Capital. 2001-06: CEO and minority shareholder of HOVISA, real estate company owner of Hotel Chairman Arts. Prior to that he worked as M&A lawyer. Mr. Faus is also active in the academic sector. He has worked with different professors at Harvard, IESE and ESADE Business Schools, helping write case studies based on his own experience. Law degree from Universidad Autónoma de Barcelona, Masters in International Law from Georgetown University and MBA from ESADE Business School. TEAM KEY SENIOR MEMBERS Cristina Badenes Juan Barba David Torralba Partner IR & Corp. Dev. Partner Real Estate Partner Private Equity Ms. Badenes has been at Meridia Capital since inception Mr. Barba joined Meridia Capital in September 2014 from Mr. Torralba joined Meridia Capital in September 2015. He is (2006). 25 years of experience in the financial industry. SAREB (management company of real estate loans and REOs responsible for implementing the private equity business from troubled Spanish financial entities), where he was Head strategy, with a focus on origination, deal execution, portfolio She is responsible for leading global Investor Relations and of Transactions, leading the divestment of SAREB’s portfolio management and exit. capital raising for the firm. – around 50 billion euros. At Meridia Capital he is responsible for implementing the real estate business strategy, with Prior to joining Meridia Capital, he was Principal at Doughty As Head of Corporate Development she is also responsible special emphasis on origination, deal execution, asset Hanson, a London-based European private equity group, for new business initiatives, playing an integral role in management and exit optimisation. where he worked for almost nine years mainly focusing on developing the fund management group’s strategy while deals in Spain. Amongst others, he was involved in the promoting Meridia Capital’s franchise globally. Prior to that, he was Principal at Doughty Hanson, a London- acquisition, management
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