Murphy Express Ground Lease Fee Simple Sugar Land (Houston)

MURPHY EXPRESS GROUND LEASE FEE SIMPLE SUGAR LAND (HOUSTON)

OFFERING MEMORANDUM NON-ENDORSEMENT & DISCLAIMER NOTICE

CONFIDENTIALITY & DISCLAIMER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Bro- chure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. NON-ENDORSEMENT NOTICE

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. EXCLUSIVELY LISTED BY

SONNY MOLLOY Senior Vice President Investments [email protected] Direct: (678) 808-2763 JARED KAYE Senior Associate [email protected] Office: (678) 808-2700 TABLE OF CONTENTS

EXECUTIVE SUMMARY Offering Highlights Investment Overview 01 Summary of Terms PROPERTY DETAILS Site Plan Regional Map 02 Local Maps Retail Market Aerial FINANCIAL ANALYSIS Financial Summary Rent Roll 03 Lease Abstracts Tenant Summaries LOCATION OVERVIEW Demographics Houston Fortune 500 & 1000 Firms 04 246,369 204,417

2017 TOTAL POPULATION 2017 DAYTIME POPULATION 5-MILE RADIUS 5-MILE RADIUS 01-EXECUTIVE SUMMARY EXECUTIVE SUMMARY EXECUTIVE 7 2018 5.00% $150,000 1.24 Acres $3,000,000 $2,577.32 SF $2,577.32 NNN Ground Lease JPMorgan Chase United Airlines Shell Oil Co. Hospital Children’s Texas Science Medical Center UT-Health Flour Corp. EMPLOYERS

HOUSTON

Alt. Hwy. 90 & University Blvd., Sugar Land, TX 77478 Sugar Land, TX 77478 Blvd., 90 & University Alt. Hwy. MURPHY EXPRESS | GROUND LEASE (FEE SIMPLE) (FEE LEASE GROUND | EXPRESS MURPHY Walmart Baylor College of Medicine Kinder Morgan Inc. Chevron Corporation Deliotte LLP MAJOR City of Houston Lease Type Lease 1 Net Operating Income - Year Price Per Sq. Ft. Price Per Size Lot Year Built Year Price Cap Rate OFFERING HIGHLIGHTS OFFERING

7 EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS

Fundamental Location and Lease Structure

■ 20 Year Fee Simple Ground Lease

■ 20 Year Corporate Guaranty from Parent Company, Murphy Oil USA, Inc.

■ 8% Rent Escalations Every Five (5) Years Beginning in Year 6 and In Each Option

■ Absolute NNN Lease with Zero LL Responsibilities

■ Four (4), 5-Year Options

■ New 2018 Construction with 8 Fuel Bays

■ Opening for Business in June 2018

■ Strategically Located 0.25 Miles from the Highway 6 Exit Ramp

■ Positioned on the Southwest Corner of a Signalized Intersection (Hwy 90 Alt. & University Blvd.)

■ Situated on a ±1.24 Acre Pad

■ Two (2) Points of Ingress and Egress

■ Robust Traffic Counts of ±39,492 on Hwy 90 Alt. & ±34,007 on University Blvd.

Robust Regional Trade Area

■ Surrounded by Multiple Large National Retailers: Sam’s Club, Costco, Walmart, Target, Whole Foods

■ ±3 Miles from First Colony Mall (±1.1 Million SF of Retail Space)

■ ±3 Miles from CHI St. Luke’s Health – Sugar Land Hospital, a Full-Service 100-Bed Hospital with 462 Medical Personnel

■ ±2.7 Miles from Houston Methodist Sugar Land Hospital (Voted Best Metro-Area Hospital by U.S. News & World Report since 2013)

■ ±1.5 Miles from Sugar Land Regional Airport

■ ±1.6 Miles to Constellation Field, Home of the Sugar Land Skeeters

■ ±0.6 Miles to the Fort Bend Children’s Discovery Center

■ ±1.8 Miles to the Houston Museum of Natural Science at Sugar Land ◆ ◆ ◆ ◆ ◆ ◆ ◆ ◆ Million) ◆ ◆

in theU.S. witha±2.303MillionPopulation Population in5-MileRadius (only NewYork hasmore) 25 Fortune500companies headquarteredinthecity energy, aeronautics,andtechnologyindustrieswith Dawgs, andHoustonSaberCats Rockets, HoustonDynamo, HoustonDash,ScrapYard teams: HoustonAstros,Texans, Houston of theworld Houston isconsideredbymanyastheEnergyCapital Rice University, andTexas SouthernUniversity and institutions,includingtheUniversityofHouston, major performingarts cities thatofferyear-roundresidentcompaniesinall to multiculturalandminorityartsisoneoffiveU.S. performing artsorganizations,90ofwhicharedevoted populous countyinthenation Houston istheLargest CityinTexas &4thLargest City Population of±79,564 in3-MileRadius &±246,369 Houston’s economyhasabroadindustrialbaseinthe Houston ishometosevenprofessionalmajorleague Home tomorethan5,000energyrelatedfirms, Houston boastsmorethan40colleges,university Houston hasmorethan500cultural,visualand ±21 MilesfromHoustonCentralBusinessDistrict Houston MSA isFifth-MostPopulous inU.S. (6.22 Houston istheseatofHarrisCounty, thethird-most TO HOUSTON CENTRAL BUSINESS DISTRICT LOCATION HIGHLIGHTS ±21 MILES AVERAGE HOUSEHOLD INCOME $124,183

EXECUTIVE SUMMARY 9 78,730 TOTAL HOUSEHOLDS IN 5-MILE RADIUS 02-PROPERTY DETAILS PROPERTY DETAILS PROPERTY 12 Bed Inpatient Rehab Hospital Rehab Inpatient 50-Bed 39,666 Daily 39,666 ±

University Blvd

HWY 6

Airport Regional Regional Sugar Land Sugar 39,492 Daily 39,492

Hwy 90 Alternate 90 Hwy AERIALS ±

12 EXECUTIVE SUMMARY AERIALS

Constellation Field Stephen F Austin High School 7,500-Seat Stadium Students: ± 2,315 5-Mile Radius Sugar Land Middle School Garcia Middle School Residents: ±246,369 Students: ± 1,222 Students: ± 1,276 Average HH Income: $124,183 Lakeview Elementary School Students: ± 514 Sugar Land Regional Airport

69 I-

Houston Museum of Natural Science at Sugar Hwy 90 Alternate Land

Cornerstone Elementary School HWY 6 Students: ± 1,016

13 13 ±1.1 Million SF of Retail Space PROPERTY DETAILS PROPERTY EXECUTIVE SUMMARY EXECUTIVE 14 41 MILES GEORGE BUSH INTL. AIRPORT 23 MILES DOWNTOWN HOUSTON DOWNTOWN UNIVERSITY 19 MILES RICE

1 MILE FIRST COLONY MALL FIRST COLONY LOCAL MAP LOCAL

14 EXECUTIVE SUMMARY

±34,007 VPD UNIVERSITY BLVD. UNIVERSITY BLVD.

(Hwy 90 Alt. & University Blvd.) (Hwy 90 of a Signalized Intersection of a Signalized Situated on a ±1.24 Acre Pad Acre Situated on a ±1.24 Positioned on the Southwest Corner on the Southwest Positioned

■ ■ SITE PLAN SITE

15 EXECUTIVE SUMMARY EXECUTIVE SUMMARY EXECUTIVE 16 Representative Photo Representative Representative Photo Representative

16 EXECUTIVE SUMMARY $124,183 AHHI 5-MILE RADIUS 03-LOCATION OVERVIEW The Houston has the second most Fortune 500 headquarters Houston has the second most

active visual and performing arts scene in the Theater District and offers active visual and performing arts scene in the Theater District and arts. year-round resident companies in all major performing in the U.S. It is home to many cultural institutions and exhibits, which attract It is home to many cultural institutions and exhibits, in the U.S. has an more than 7 million visitors a year to the Museum District. Houston from various ethnic and religious backgrounds and a large and growing and backgrounds religious and ethnic various from and has diverse city in Texas Houston is the most international community. metropolis major diverse and ethnically racially most as the described been international trade, entertainment, culture, media, fashion, science, sports, media, fashion, science, entertainment, culture, trade, international The city has a population and research. education, medicine, technology, tonnage handled and second in total cargo tonnage handled. Nicknamed tonnage handled and second in with strengths in business, city, Houston is a global the “Space City”, oilfield equipment, City). York New (after limits city its within municipality U.S. any of States in international waterborne first in the United of Houston ranks Port Houston’s economy has a broad industrial base in energy, manufacturing, energy, in base industrial broad a has economy Houston’s in health care sectors and building aeronautics, and transportation. Leading world’s largest concentration of healthcare and research institutions—and largest world’s where the Mission Control Center is located. Johnson Space Center, NASA’s hurricane, has induced continual surges in the city’s population. In the mid- population. city’s induced continual surges in the has hurricane, Medical Center—the the Texas Houston became the home of 20th century, port and railroad industry, combined with oil discovery in 1901 and Houston’s in 1901 and Houston’s combined with oil discovery industry, port and railroad port following a devastating primary as Texas’s replacement of Galveston The city was named after former General Sam Houston, who was president after former General Sam Houston, The city was named and won at the Battle of San and had commanded of Texas of the Republic The burgeoning east of where the city was established. Jacinto 25 miles Houston was founded on August 30, 1836, near the banks of Buffalo Bayou of Buffalo the banks 1836, near 30, on August Houston was founded as a city on June 5, 1837. and incorporated Landing) (now known as Allen’s Houston LOCATION OVERVIEW LOCATION

19 LOCATION OVERVIEW 21 MilestoHoustonCentralBusinessDistrict Surrounding areahas anaveragehousehold Within 3MilesofFirstColonyMallwith±1.1 LOCATION HIGHLIGHTS Million SFofRetail Space income of$124,183 20 LOCATION OVERVIEW 11.32%

POPULATION GROWTH 2017-2022 1 MILE RADIUS 04-FINANCIAL ANALYSIS 7.35% 7.93% 8.57% 5.83% 5.40% 6.30% 6.80% 5.00% 5.00% 7.13% 7.70% 8.31% 6.11% 6.60% 5.66% 5.24% 4.85% 4.85% 7.13% 7.70% 8.31% 6.11% 6.60% 5.66% 5.24% 4.85% 4.85% CAP RATE CAP CAP RATE CAP $150,000 $150,000 $157.46 $157.46 $145.80 $145.80 $135.00 $135.00 $125.00 $125.00 $125.00 $125.00 $183.67 $183.67 $170.06 $214.23 $170.06 $214.23 $198.36 $198.36 RENT/SF RENT/SF RENT RENT $15,746 $15,746 $14,580 $14,580 $13,500 $13,500 $12,500 $12,500 $12,500 $12,500 $17,006 $17,006 $18,367 $18,367 $21,423 $19,836 $21,423 $19,836 MONTHLY MONTHLY MONTHLY MONTHLY $188,957 $188,957 $174,960 $174,960 $150,000 $150,000 $150,000 $150,000 $162,000 $162,000 $238,031 $238,031 $257,074 $257,074 $204,073 $204,073 $220,399 $220,399 ANNUAL RENT ANNUAL ANNUAL RENT ANNUAL Option 3 (31-35) Option 4 (36-40) Option 1 (21-25) Option 2 (26-30) Years 16-20 Years Years 11-15 Years YEAR Years 1-5 Years 6-10 Years Current Option 3 (31-35) Option 4 (36-40) Option 1 (21-25) Option 2 (26-30) YEAR 16-20 Years Years 11-15 Years Current Years 1-5 Years 6-10 Years ANNUALIZED OPERATING INFORMATION OPERATING ANNUALIZED SCHEDULE RENT Net Operating Income Net Operating RENT SCHEDULE RENT ANNUALIZED OPERATING INFORMATION OPERATING ANNUALIZED Net Operating Income 20 20 Yes Yes N/A N/A 20.6 20.6 2018 2018 None None 4.85% 4.85% 5.00% 1,200 SF 1,200 SF 8/15/2018 8/15/2018 $2,577.32 $2,577.32 8/31/2038 8/31/2038 1.24 Acres 1.24 Acres $3,092,784 $3,092,784 $3,000,000 All Expenses All Expenses Yes - 30 Days Yes August 15, 2018 August August 31, 2038 August Murphy Express Murphy Express Murphy Express Murphy Express NNN Ground Lease NNN Ground Lease Murphy Oil USA, Inc. Murphy Oil USA, Murphy Oil USA, Inc. Murphy Oil USA, Murphy Oil USA, Inc. Murphy Oil USA, Murphy Oil USA, Inc. Murphy Oil USA, Corporate Guarantee Corporate Guarantee Four (4), 5 Year Options Four (4), 5 Year Four (4), 5 Year Options Four (4), 5 Year Sugar Land, Texas 77478 Texas Sugar Land, Sugar Land, Texas 77478 Texas Sugar Land, Leased Fee/Ground Lease Fee/Ground Leased Leased Fee/Ground Lease Fee/Ground Leased Net Leased Auto Service - Gas/Conv Auto Net Leased Net Leased Auto Service - Gas/Conv Auto Net Leased SWC of Alt. Hwy 90 & University Blvd of Alt. Hwy 90 SWC SWC of Alt. Hwy 90 & University Blvd of Alt. Hwy 90 & University SWC 8% every 5 years in Year 6 & Options 8% every 5 years in Year 8% every 5 years in Year 6 & Options 8% every 5 years in Year Murphy Express Ground Lease (Fee Simple) Ground Lease Murphy Express Murphy Express Ground Lease (Fee Simple) Lease Murphy Express Ground

LEASE SUMMARY LEASE PROPERTY DESCRIPTION PROPERTY THE OFFERING THE Renewal Options Renewal Responsibility Landlord Capitalization Rate Price/SF Area Gross Leasable Zoning of Ownership Type Size Lot Property Subtype Tenant Increases Rent Guarantor Responsibility Tenant Right of First Refusal/Offer Year Built / Renovated Year Price Type Lease Property Property Address Commencement Lease Expiration Lease Term Lease (Years) on Lease Remaining Term LEASE SUMMARY LEASE PROPERTY DESCRIPTION PROPERTY THE OFFERING THE Tenant Responsibility Tenant Right of First Refusal/Offer Lease Type Lease Responsibility Landlord Gross Leasable Area Gross Leasable Zoning of Ownership Type Size Lot Tenant Increases Rent Guarantor Commencement Lease Expiration Lease Term Lease (Years) on Lease Remaining Term Options Renewal Property Subtype Price Built / Renovated Year Property Property Address Capitalization Rate Price/SF FINANCIAL ANALYSIS FINANCIAL

FINANCIAL ANALYSIS FINANCIAL FINANCIAL ANALYSIS FINANCIAL FINANCIAL ANALYSIS FINANCIAL 23

EXECUTIVE23 EXECUTIVE SUMMARY SUMMARY 23 EXECUTIVE23 EXECUTIVE SUMMARY SUMMARY Option Rent: annually per month or $204,073 Option 1: $17,006 annually Option 2: $18,367 per month or $220,399 per month or $238,031 annually Option 3: $19,836 annually Option 4: $21,423 per month or $257,074 Assignment & Subletting: shall have The only permitted transfers that Tenant majority-owned include an assignment to a) an entity resulting in Inc. or any successor by Murphy Oil USA, Inc. Oil USA, a reorganization or merger with Murphy of $200 million b) an entity with a net worth in excess accounting subject to GAAP Estoppel: an shall execute Tenant Upon request by Landlord, estoppel within fifteen (15) business days. Base Lease Term: Base Lease 20 years Base Rent: annually 1-5): $12,500 per month/$150,000 (Years annually per month/$162,000 6-10): $9,720.00 (Years annually 11-15): $14,580 per month/$174,960 (Years month/$188,957 annually per 16-20): $15,746 (Years Options: Renewal Four (4), 5 year options

(Based on Projected Rent Commencement) Expiration: Lease 31, 2038 August Commencement) Lease Guarantor: Guarantor: Lease Corporate Guaranty Company) Inc., (Parent Murphy Oil USA, Structure: Lease Ground Lease Absolute NNN, Fee Simple 20 Year Special Net Lease: free and clear the Monthly Rent shall receive Landlord liens, charges, or of any and all impositions taxes, in connection with of any nature whatsoever expenses the ownership and operation of Premises. Premises: 1A) (Lot Parcel 1,200 Building Square Feet, +/-1.30 Acre Commencement: Lease 15, 2018 (Based on Projected Rent August Tenant: Tenant: corporation Inc., a Delaware Murphy Oil USA, Murphy Express LEASE ABSTRACT LEASE Murphy USA. customers will still recognize the competitive customers will still recognize the hallmark of prices that have become the dispensing positions, assuring customers a dispensing positions, assuring customers And of course, quick and efficient fuel stop. coffee, fountain and frozen drinks, free ATMs, free frozen drinks, fountain and coffee, Almost and many other convenience items. of 12 fuel all stations feature a minimum some of which are larger than a Murphy USA Murphy USA some of which are larger than a offer format. Most Murphy Express locations Murphy Express are stand-alone stations, Murphy Express are stand-alone

24 FINANCIAL ANALYSIS CREDIT RATING STANDARD & POOR’S STANDARD HEADQUARTERED IN HEADQUARTERED AR El Dorado, APPROXIMATELY CUSTOMERS A DAY CUSTOMERS STOCK SYMBOL STOCK FOUNDED LOCATIONS SALES VOLUME SALES

a successful bid on the most competitive block in Mexico’s competitive block in Mexico’s a successful bid on the most first deepwater bid round. Production Company is headquartered in Houston, Texas. in Houston, Texas. Production Company is headquartered through portfolio exploration their expanded 2016, they In They are headquartered in El Dorado, Arkansas with over Dorado, They are headquartered in El & Exploration and Murphy worldwide, 1,200 employees exploration activities across the globe. activities across the globe. exploration oil and gas leader that produces oil and/or natural gas in oil and gas leader that produces and engages in Canada, and Malaysia the United States, Express focuses on providing the best products at the best Express focuses on providing customers. Its 1.6 million daily price for its approximately is an international Murphy Oil Corporation, parent company, Positioned as the low-cost fuel-market leader, Murphy leader, as the low-cost fuel-market Positioned

TENANT OVERVIEW TENANT

25 FINANCIAL ANALYSIS DEMOGRAPHICS

POPULATION 1 - MILE 3 - MILE 5 - MILE POPULATION PROFILE 1 - MILE 3 - MILE 5 - MILE 2021 Projection 6,246 88,439 270,757 20 to 24 Years 5.3% 6.3% 6.4% 2017 Estimate 5,610 79,564 246,369 25 to 29 Years 5.7% 5.6% 6.0% Growth 2017 - 2022 11.32% 11.16% 9.90% 30 to 34 Years 6.6% 6.1% 6.3% 2000 Census 3,185 53,321 161,354 35 to 39 Years 7.2% 6.5% 6.6% 2010 Census 4,580 69,205 216,901 Growth 2000 - 2010 43.79% 29.79% 34.43% 40 to 49 Years 14.2% 14.8% 14.7% 50 to 59 Years 14.9% 15.9% 15.4% DAYTIME POPULATION 60 to 64 Years 6.4% 6.5% 6.1% 2017 Estimate 10,286 82,181 204,417 65 to 69 Years 4.7% 4.7% 4.4% HOUSEHOLDS 70 to 74 Years 3.7% 2.9% 2.7% 2022 Projections 1,831 29,910 88,277 Age 75+ 8.9% 4.5% 3.8% 2017 Estimate 1,680 26,544 78,730 Growth 2017 - 2022 9.02% 12.68% 12.13% Housing Units by Occupancy 2000 Census 1,048 16,926 50,225 2017 Owner Occupied Housing Units 70.1% 75.4% 73.7% 2010 Census 1,310 23,002 69,509 2017 Renter Occupied Housing Units 29.9% 24.6% 26.3% Growth 2000 - 2010 25.00% 35.90% 38.39% 2017 Vacant 6.27% 1.76% 1.26% 2017 EST. HOUSEHOLDS BY INCOME 2022 Owner Occupied Housing Units 70.8% 74.7% 73.5% 2022 Renter Occupied Housing Units 29.2% 25.3% 26.5% $200,000 or More 12.04% 15.73% 12.91% 2022 Vacant 6.35% 1.70% 1.18% $150,000 - $199,999 8.73% 11.56% 10.33% $100,000 - $149,999 23.35% 23.16% 21.07% $75,000 - $99,999 14.07% 12.67% 12.77% 2017 Population by Household Status 5,610 79,564 246,369 26

LOCATION OVERVIEW $50,000 - $74,999 12.44% 14.06% 16.02% Family Household Population 83.88% 89.01% 88.69% $35,000 - $49,999 7.54% 7.65% 9.41% Non-Family Household Population 12.39% 9.64% 10.01% $25,000 - $34,999 4.93% 4.94% 6.16% $15,000 - $24,999 5.21% 4.56% 5.26% $10,000 - $14,999 4.10% 1.95% 2.39% Under $9,999 7.59% 3.71% 3.68% Average Household Income $121,548 $138,490 $124,183 HOUSTON -FORTUNE 500COMPANIES regulatory previouslyannounced approvals. As and connectingGCX Project associatedcompression, Mainline with the LateralAdditionally, the Midland consist portion Waha Hub near Texas inthePermian Basin Agua Coyanosa, Dulce, andterminating Texas. near approximately of 82miles 36 cubic feet of per Project (Bcf/d) gas. natural day portion The of Mainline consists GCX in the equivalent fee transport onth also volumesthat hascommitted are by backstopped a long Midstream,DCP Targa, expect subscribed transportation agreements having executed investment decision and an affiliate of Kinder of

Kinder MorganKinder that the remaining capacity thattheremaining be will subscribed The be project 2019, inservice pending of expected thereceipt to is inOctober The approximatelybillion $1.7 totheprojectShippers thathave include committed HOUSTON, Dec Morgan and committed Investment Decision Commitments Achieved DefinitiveAgreements signed definitive venture joint and agreements , Targa ResourcesTarga Corp Inc. to proceed withthe , (NYSE: KM (NYSE: Apache and Corporation . 21 DCP Midstream under long with shippers , 2017 , 2017 - inch pipeline and 365 miles ofinch pipeline miles 42 and 365 - e pipeline. Kinder Morgan Texas Pipeline LLC Kinder MorganTexasPipeline a subsidiary (KMTP), I ) on -

DCP Midstream, LP Midstream, , DCP (NYSE: DCP) term

GCX Project designed is up totransport Gulf Coast GulfCoast . A

(NYSE: . (NYSE: Gulf Coast

pproximately to , binding

Move Forward with and Targa

, KMI operate build, will own a, and 50percent 1

Pioneer Natural Resources Company of approximately of 50 miles 36 TRGP by transportation agreements transportation Express by early

JV Express Express having secured percent ofthe 85 percent (Targa) ) (Targa)

Partners , butare to, notlimited - Pipeline Project Pipeline Resources term purchase agreementterm purchase that locks 2018. -

inch Pipeline Project today announced pipelineoriginatingat the ;

the the

Sufficient . sufficient

Announce Final project Project (DCP Midstream) (GCX Project) after , and thepartners to 1.92 billion to 1.92billion capacity is is capacity thefollowing: firm

inch pipeline a final a final

. KMTP necessary

27 FINANCIAL ANALYSIS HOUSTON - FORTUNE 1000 COMPANIES COMPANIES 1000 - FORTUNE HOUSTON

28 FINANCIAL ANALYSIS 5 - MILE LOCAL DEMOGRAPHIC HIGHIGHTS

POPULATION GROWTH 2000-2010 POPULATION GROWTH 2017-2022

29 34.43% 9.90% 29 FINANCIAL ANALYSIS SONNY MOLLOY JARED KAYE CASSIDY MAXWELL

Senior Vice President Investments Senior Associate Marketing Coordinator [email protected] [email protected] [email protected] Direct: (678) 808-2763 Office: (678) 808-2821 Office: (678) 808-2744