Southern is consistently a leader 01 in overall population growth POPULATION GROWTH FASTEST GROWING MAJOR U.S. METROS

1 AUSTIN, TX 2.8% 2 PHOENIX, AZ 2.0% 3 , NV 1.8% 4 CHARLOTTE, NC 1.7% 5 DALLAS, TX 1.6%

Source: US Census Bureau. Despite COVID-19, population growth indicators 02 demonstrate the community remains in demand 10 K When people move to Southern Nevada, they 8 K exchange their out-of-state drivers license for a 6 K local license. Note, DMVs in Nevada were closed

4 K from mid-March to June, with limited hours by DRIVERS appointment only starting in June. LICENSE 2 K 1 SURRENDERS 0 K Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov '20 '20 '20 '20 '20 '20 '20 '20 '20 '20 '20

865 K To better understand the number of people 860 K migrating to Southern Nevada on a net basis, the 855 K number of homes connected to the local power grid

850 K provide an indication that the resident base is ELECTRIC 845 K continuing to expand at historical levels. METER CONNECTIONS2 840 K Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov '20 '20 '20 '20 '20 '20 '20 '20 '20 '20 '20

Source: 1The Center for Business and Economic Research. 2NV Energy. The housing market has been outperforming 03 nearly every segment of the economy in 2020 NEW RESALE HOME MORTGAGE EFFECTIVE HOME MEDIAN CLOSING INTEREST RESALE SALES1 PRICE1 RATE2 INVENTORY1

10.0K $350 K 6% 5.5 5.0 $300 K 8.0K 5% Months 4.5 $250 K 4% 4.0 6.0K $200 K 3.5 3% 3.0 4.0K $150 K 2.5 2% $100 K 2.0 2.0K 1.5 $50 K 1% 1.0 0.0K $0 K 0% 0.5 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20

Home sales volumes have remained elevated while pricing has continued to rise. The latest trends have been impacted by the area’s attractive attributes, but it is also a function of record-low interest rates and limited resale inventory.

Source: 1SalesTraq - Las Vegas Area. 2Freddie Mac – United States. The Las Vegas area is a business-friendly and 04 entrepreneurial community for start-ups and businesses BUSINESS TAX CLIMATE3

1

#7

2

Source: 1Fundera. 2Chief Executive (2020). 3Tax Foundation. State and local funding is supplemented by out-of-state 05 visitors, meaning local businesses and residents pay less

REDUCTION IN TAX BURDEN FOR CLARK COUNTY RESIDENTS DUE TO THE RESORT INDUSTRY $1,029 $2,849 TAX SAVINGS PER TAX SAVINGS PER RESIDENT HOUSEHOLD

Sources: Nevada Resort Association, LVCVA, Applied Analysis. Southern Nevada’s market positioning 06 allows businesses to thrive in the new world economy

#1 #4 #9 #4 STATE WITH THE FASTEST ECONOMIC GROWTH STATE FOR STATE FOR RATE OF JOB GROWTH1 POTENTIAL2 BUSINESS COSTS3 INFRASTRUCTURE4

Source : 1Kiplinger Magazine (2019). 2Business Facilities Magazine (2019). 3Forbes (2018). 4US News and World Report (2019). Commercial real estate in Southern Nevada has remained 07 relatively stable, particularly in the industrial sector

VACANCY RATE INDUSTRIAL COMPLETIONS

30% 8 M

7 M 25% Square Feet Square 6 M 20% 5 M

15% 4 M

3 M 10% 2 M 5% 1 M

0% 0 M '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '13 '14 '15 '16 '17 '18 '19 '20

Industrial Market Retail Market Office Market

Source: Applied Analysis. Nearly $20 billion of major projects are in the 08 development pipeline in Southern Nevada

1 $4.3 B

2 MSG SPHERE AT THE VENETIAN $1.6 B

3 LAS VEGAS CONVENTION CENTER EXPANSION $1.4 B

4 GOOGLE DATA CENTER $1.2 B

5 UNION VILLAGE $1.2 B

6 GEMINI SOLAR PROJECT $1.0 B

7 UNCOMMONS $400 M

8 LAS VEGAS (REBRAND OF HARD ROCK HOTEL & CASINO) $200 M

9 UNLV MEDICAL SCHOOL BUILDING $155 M

10 (REBRAND OF SLS LAS VEGAS) $150 M

Source: LVCVA, Applied Analysis. Las Vegas is conveniently located from major U.S. cities, 09 providing an ideal hub for logistics and distribution

Location Miles Time Location Miles Time

Los Angeles, CA 265 mi. 3:54 Santa Fe, NM 634 mi. 9:08 Phoenix, AZ 300 mi. 4:39 Boise, ID 634 mi. 9:31 San Diego, CA 327 mi. 4:46 Denver, CO 752 mi. 10:45 Salt Lake City, UT 424 mi. 5:50 Cheyenne, WY 837 mi. 11:52 Reno, NV 452 mi. 6:55 Helena, MT 907 mi. 12:31 San Francisco, CA 562 mi. 8:20 Portland, OR 982 mi. 15:44 Sacramento, CA 565 mi. 8:14 Seattle, WA 1,129 mi. 16:52

Source: Applied Analysis. Nevada ranks #2 in the nation 10 for cultural diversity

Cultural diversity is a valuable commodity that can boost economic creativity and prosperity. A diverse workforce can lead to out-of-the-box solutions and innovations.

Source: World Population Review (Top 10 Dispalyed).