View SPace VacanT PricewaterhouseCoopers DT aVaiLaBLe nexT 6 MonTHS Three ::TroPHY BUiLDinG View SPace rePorT aVaiLaBLe aFTer 6 MonTHS Floors 17-22 & partial 23rd SUBLeaSe aVaiLaBLe KPMG 165,784 RSF 2009 2010 2011 Occupancy Recommendations LXD 6/30/2020 Total demand ±2.56 MSF Total demand ±5.2 MSF Total demand ±6.4 MSF Avg Rent over term: $43.00 FSG • Existing lease has value • Rent impact on Gensler value 60 60 Direct lease from Boston Properties Technology, 24% 67 Tech Tenants Real Estate, 1.3% Unknown, 5.7% Key Drivers Options Legal, 20% ±1.248 MSF Construction, 2.4% Technology, 26.9% • Timing critical • No downside Real Estate, 2% Online, 1% Health, 4.1% Real Estate, 2% • Strategy- Crafting a plan to meet your goals Media, 3% 55 55 Social Service, 2% Education, 4.0% 93 Tech Tenants Health, 2% Financial, 15% Media, 2% • Fit- What’s right for your success 22,642 Ernst & Young Social Service, 3% ±1.79 MSF Base Case Public Service, 6.2% Market on Online, 1% Retail, 4% Financial, 15% 560 • Costs- Know the outcome CB RICHARD ELLIS, INC. 50 5,988 50 Unknown, 4% Floors 14-17 Retail, 6.3% • Risks- Understand what’s at stake , 44th Floor 86,650 RSF Education, 10% Scenario 1 Scenario 2 Scenario 3 Scenario 4 San Francisco, CA 94111 15,520 CB RICHARD ELLIS, INC. the Move Public Service, 5% 45 29,396 45 LXD 9/30/2017 • Market- See the opportunities and traps 3,271 Business Services, 14% Renewal Buy/Lease Financial District Civic Center 101 California Street, 44th Floor Avg Rent over term: $32.00 FSG Financial, 19.6% 17,646 Legal, 8.6% www.cbre.com/sfdt 7,031 Business Services, 14% 2 Harrison Street 735 Battery Street 220 1355 Market Street San Francisco, CA 94111 Sublease from JP Morgan Chase Education, 11% • In 2011 there has been 430,000 SF of Public Service, 10% 40 7,462 40 Jon Wittemyer 22,083 www.cbre.com positive absorption. We haven’t finished Business Services, 12.4% 13,970 Technology, 17% 34 Tech Tenants Legal, 12% Brad Werner 5,275 the year with positive absorption since ±435,000 SF Shap Roder 7,000 2007. 35 26,117 700 22,314 35 Darin Bosch 26,118 1,200 22,313 22,314 Ken Gilbert • Availability has dropped 260 basis points Economic Forecast & Timeline 13,927 from 20.4% to 17.8%. 10,271 22,424 Brian Talbot San Francisco CBD 30 20,000 30 Rental Rates Inflation (%) 1998-2012 22,300 • Vacancy is down 20 basis points to San Francisco Downtown 15.5% Four-Year Vacancy & Rental Rate Projection 25 2,878 25 20% Moody’s Economy.com | Job Growth Forecast KPMG 22,133

Economy.com 17,860 Deloitte 15% 2012 2013 20 20 Projected Annual Job Growth 2011-13 2.5% Floors 4-7 and 10-15 40% $80 AprilMay June July Aug Sept Oct Nov Dec Jan FebMarch AprilMay June July AugSept Oct NovDec JanFeb 1,452 Morgan 10% 2014-16 1.8% 166,435 RSF $71.22 4,055 35% $70 15 15 LXD 6/30/2026 5% 30% $60 Avg Rent over term: $51.50 FSG $50.42

Stanley Position 25% $50 Direct lease from Tishman Speyer 10 21,397 10 0% $38.89 20% $40 $32.34 • $60/ RSF - anticipated rent • Sub - $30/ RSF rate • $30/ RSF rate • Low $30’s/ RSF rate $30.35 15.3% Recommended Site Selection Period Site Selection 15% $30 • Minimal capital contribution • $225/ RSF acquisition cost • High ceiling • Large floor plate • No property vacancy -5% 14.9% Documentation 5 5 12.6% 14.7% Design & Construction 10% $25.07 $20 • Constrained expansion • Residual participation • Large floor plate • “Tech” location • Comps support $55/ RSF rent (Pushing rents) opportunity -10% 5% 7.0% $10 • Brick and timber • Appeals to old and new • Trail blazing • Market trending to their favor (No fear) • Excellent views 1 1 0% 3.4% $0 • Building signage • Full floor efficiency • Tax incentives 5 ie 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 r • Valuations soaring • Desirable “look” 4 -15% H 1 TOTAL VACANCY % AVERAGE ASKING RENT 1 MariTiMe PLaza 101 caLiFornia ST. 555 caLiFornia ST. 600 MonTGoMerY ST. 1 MarkeT - SPear 1 MarkeT - STeUarT FoUr eMBarcaDero y de St re P • Prime Property Fund (low leverage, high yield) et ie Page 1 P r ie P 43 -20% Year Built/Renovated: 1967/1990 Year Built/Renovated: 1982/2002 Year Built/Renovated: 1969/1971 Year Built/Renovated: 1972 Year Built/Renovated: 1976 Year Built/Renovated: 1976 Year Built/Renovated: 1967 r ier 4 3 1 /2 Owner: Morgan Stanley Owner: Hines Owner: Vornado Realty Trust Owner: AEGON USA Realty Advisors, Inc. Owner: Morgan Stanley Owner: Morgan Stanley Owner: Boston Properties, Inc. Bay Cruises Red & White Fleet 2001 Pier 47 Pier 39 Pier 35 2002 Del Monte Corporation, Morgan Stanley, Goldman Sachs, Bank of America, Salesforce.com, Capital Group Co., Sheppard, Mullin, Richter & P -25% 2003 Anchor Tenants: Anchor Tenants: Anchor Tenants: Anchor Tenants: Anchor Tenants: Anchor Tenants: Anchor Tenants: 2004 Farallon Capital Management Merrill Lynch Morgan Stanley, BofaA URS Corporation Morgan Lewis Sedgwick et al. LLP Hampton LLP, Marsh & McClellan 2005 Underwater 3 2006 TH E E World 3 1998 FISHERMAN’S WHARF MB r Total NRA: 515,069 Total NRA: 1,200,000 Total NRA: 1,459,977 Total NRA: 471,081 Total NRA: 863,893 Total NRA: 498,872 Total NRA: 861,017 AR e 1999 2007 P C A i T. D P 2000 2008 A Q U A TIC P ARK S M ERO

2001 2009 A Average Floor Plate Size: 21,049 Average Floor Plate Size: 25,064 Average Floor Plate Size: 28,627 Average Floor Plate Size: 10,400 Average Floor Plate Size: 19,000 Avg. Floor Plate Size: 16,000 Average Floor Plate Size: 20,751 T odge 2002 S Travel P 2010 LEAVEN A 2003 P O Y Gensler and CBRE S J N 2004 L T & LLP Total Available %: 1.3% Total Available %: 12.2% Total Available %: 6.0% Total Available %: 19.8% Total Available %: 6.6% Total Available %: 47.6% Total Available %: 32.7% N O RSO . 2 E O ST each F O B 2005 JEF O ne 2 HE N LATHAM WATKINS P 0 RB R 0 2006 e 200 P C C Anchorag E y AEN The P O adem W Ac n S K 2007 Total View NRA: 231,000 Total View NRA: 480,000 Total View NRA: 64,000 Total View NRA: 89,029 Total View NRA: 273,000 Total View NRA: 208,000 Total View NRA: 399,945 H ard Johnso P Pier 31 How P of Art hpoint W ry W ort anne T 00 N Annual Rent Inflation (%) 2008 Y The C MUN I 1 AY ORT P O D . 9 2009 Building A Successful Partnership C 400 E ST View Available %: 0.6% View Available %: 22.2% View Available %: 10.6% View Available %: 3.7% View Available %: 3.4% View Available %: 11.9% View Available %: 57.6% able Sheraton 2010 Car E P L N r 2 Tu L r 2 rial ie na H Memo s 2 6 ’ N A L roun gshoreman T P O n 0 I 0 Lo N AT d O IN 0 P 0 M E 600 P RTH p Station O Pum 0 M ARITI N orth Shore N C ISC O PA RK N A IC 2 N F R TO R ay Inn lid 2 . SA H IS P Ho hpoint Apts 0 rt ime Museum 400 N o tional Marit int Apts. 0 N a H LARKI rthpo EAC Apts. N o ST. B N orthpoint ST. t 2 poin N orth K P 4 enter P C 600 0 opping P Sh 200 E 0 O P ark t A e P N at fic rdelli Square Hy isco Bay O f Ghira Franc co L is CO P R 50 Franc 3 2 AY K B M 2 Piers 27-31 Recreation Project P 6 N 0 LUMBU t i iot 0 800 Marr d (future) 0 ts. 400 a Ap dge 0 w tan avelo Y Fon 2 Tr pts. a na A 6 Fonta East Ramada y 2 Northeast Wharf Plaza 0 0 7 West W S 0 YMCA t 0 2 . 2 o . 0 T 2 6 S Skate Park S 2 r d T 0 12 600 n r IN rge 0 Marine Sports Basin O Be e P 0 H 00 0 RT ST. t . n Park O n t e me r S isco ffic ie N p S c O I Redevelo ndewate 55 Fran M ncisco Bay pe V Va t Fra y Ho er P h . m N orth Beac ential) 200 P 700 Montgo id O 1 1325 ChEsApEAkE TERRACE3 ±28,629 ure res (fut 0

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(Fiv r ldg t B ST a 1 E laz S o P CHINATOW6 N GRAN n 2 1 l) 0 M t 5 tia P T n g ide 0 (res 0 8 r 0 o 0 E Y m & i 5 G 00 . 0 A ost 50 P 4 DEVELOP PREPARE PRESENTATION PRESENT PROCESS IDENTIFY KEY DETERMINE COMMUTE REVIEW FINANCIAL PREPARE “NON- REVIEW FINANCIAL PREPARE e L o @ 0 P O Farg CY l e lls S 1400 cia E We rk R r s 0 y r W ce mme 9mer rnia a  o y o t t O Co ntg alif T LEGAL REVIEW kson e Mo 50 C m e ac P R ro 0 J 0 F de 2 10 d S C ca e 00 ar 1 C b 53 E P m 3 r l E ark 0 an y t a d . er olid A el a e t i PROPERTY SELECTION FOR EMPLOYEES TO EMPLOYEES DUE DILLIGENCE TIME IMPACT FOR ANALYSIS WITH BINDING LETTER ANALYSIS WITH PRESENTATION FOR w o R n L o H T r M T . g H r fo 7 U n Y 3 te o ali u 4 t Jo E 3 en en 0 C e e O e 0 C m I S 5 a H 3 cr 2 Sa n l) K t tia dge p e ron en o m m F The N 2 o d L t s 2 i J 2 OF LOI s CHINES o an t. 2 O t (re u S t S AR e s 0 U S e . m oi o W o D t b Sans 0 ) L al a M i t e nt P 600 . 0 e l d M ts a si W p T OUN e i . A r n l S ( R H e z A c CRITERIA & PUBLIC AND PUBLIC ISSUES EACH SITE MTC/BATA CONSULTANT OF INTENT” (LOI) MTC/BATA CONSULTANT APPROVALS 0 C c 1600 YW YGa 56 0 n A 701 4 a 15 la Bus e e o r g ai PL v 0 ont C O P T M a M ry e m in i lv O o om 1200 a ntg n ia M A nt Mo i iforn et a t l ) r e a l g ia d G C k nt i 3 ide T i s s ll K (re . E lls ck b ar N ST a We alle . 4 o H m a T e o O 1 P it S M T ll S um S e N S n G LEAVENWO ow S P r N A 959 L 0 I 6 p k T o H E Farg S p l. ny ornia nk argo . P 0 O ) P r if a F A o a l B s r 0 e r a ll 0 we dential 0 K 0 C We r 80 W E esi L 55 nk 35 r (r i Ba l a r A k on n n o a ni 0 Y . B U nk e r Ba Bldg B 200 r 800 . g 1 e u pts ia e J k A orn S Sp N an P n lif ed eb r ai a l ckl M f C w t r n o l o L r R S te f e B n l e r O o to P o h n o i O T Can 00 mni H Ko O I f PEA T a 6 t s 1400 N O o d E o e u . ic 8 M O ff r u O 1 g. nia N A 6 r ’s . ne Bld a N 0 g. fo nk e A O i i hn La R k A rn 50 Bld al N t. Jo St ark C YMC alifo 550 S C a Ste 1 S ant P C w s 0 A N Plea S l 0 U B o l y d 580 ia T 8 n e 0 r O o h & ia c n ifo T r 0 r l u n C fo a v C h R C ali C 400 t I r c R S Y er M s 0 1000 b 1 i 0 l o 0 e l a 2 e C i R S h n 5 ow t r 25 c E 50 P g P alifo T 8 in . C s u 0 u ia es o a e n 15 r . t H or k lla rs r M lif n o a R Fi io l a a D i A r B n n L en C c r b O S n 0 ifi ia ifo l . 65 ac rn al H S c P alifo C Fran o le t a C T a e 5 . d i g ra en e h 42 Bld R i l t e G a r t n s H e KEY ACTIVITY er 1 c . r t n . Int r ra ldg S 1600 r y Insu a B E de San r i G o rn e u ’ T l 2 ifo a P l r K l de 8 s t’s Ca F o Fe nk LARKI Y han e a y c ge T U r D B P e an ia t l 14 h 0 M xc rn S C i 0 0 E lifo . 72 C a o r l m R r 101 2 A e 0 1200 ge H RT 0 n KEY ACTIVITY D a cha . t 0 NTI ia 60 Ex Bldg arin A bo o b n d r r S 0 n V Troy . t C alifo of The Ma lifornia C a H A t FINANCIAL T k a Y a S Ban g. t 5 C B A tel ld 0 34 H C C B o KEY ACTIVITY L H P . 3 R e l t 43 in r P 5 MAI C n l P a E o te E M l Fairm sity a Main Ho 100 & ea Y z P u r S c e & H e i AN niv l er 5 Pin A P U Am 46 nia 60 . for 1 G I 1 li Pla L s 601 C a B P 5 Sp A b T er N u t e h l h 800 s 1 c 0 1 e’ y C ub an a Luk 2 ion C l Br rni O 21 e St. O Un lifo 6 nt c S a . m i s cif nia C T k 0 a r o G P ifo S M r e N 0 . al R ysid 8 r e C e N urch R 800 Pin a C e h 00 E a 8 C 0 2 a 5 Q 4 d S M t 55 0 o 1 ansome T E B 1 a n 0 t S FR P 2 0 & on c G 2 0 0 2 r L K 0 a 0 l A ic e r E 14 I t M me G d n l e N ra Q of A 0 om nc R T G k 30 ns t P 5 ba . U a e 0 n k Ba S ar O S t e NOB M S F P 0 88 Ri m K I a 5 T DISTRICi T 3 M N L orn 31 20 24 e E u lif ry P e n A C a m k t go C A 555 nt 5 O Mo 0 5 i . 6 y T ar A l C O er e A in n m 0 1 o P Office/ R&D For Lease . ntg 111 . M r • Review financial analysis with core team and sponsor Mo y 1 on c ter 6 t t ea ock R Ba . I t St 98 y p N R T N 776 I 1 . S r 0 C ng 6 o E l l Y H P te s 0 a e o r t C t E n d o C S rame C athe 000 0 lton H oast 235 en er Sac 0 ce 1 ar . c C g S n a C t E ifi n • Review RFP process with sponsors o KEY ACTIVITY 0 r z- C ac o G 0 it P K 16 R ’ e BEAL w ) P C KLI inton x S ntial) P pts. K V M m sio n o e S A S 00 e t al n k id c c n T T (res 4 et B Sto ank Pi e is o ti o m B • Conforming proposals are analyzed and compared for: h n t k c P t HILL a e d Acor O n r M on n n r a S . u e n g a r en r e an P 3 c 2 h a T n c t Ex . Ri a k S r r M O t. g 5 ea w T S g nt 12 T k c o Rin n y r E o o p a r F 3 r 0 esid N F e e • Approve short list of options i r E . c O N n a e c & S ( s a . T s m AM 1 S Renai ell Plac . 1 t 33 G H R ow dg l an E P l h r B 1 G T 21 C 8 ss m P e a . 88 4 s u g n t R B d ld 2 A ki ur 2 A B 2 150 S op C o l 5 ell n rk H rd r r Sh . gto 0 a nfo Hote a 0 n M a 1200 i t y e nt S 0 g u S in t H tal 235 n Build sh attery n T s 0 n N u B ir e a B • Review project scope and process with employees and public 0 k a 1800 F tin l 0 ai O ld con ote 600 0 10 l r H B n S e S te Int A ry 0 00 Ho one me s 4 M o s rch Vine leph ntg 11 t 0 u e o 5 e u h T c M 2 • Building efficiency C tel S ific ls o o c il 3 P Pa . M H a 4 P r l g in m t ld 1 G i e d d d Bu m s y so r k of . Mill San n e a r e a B rcy e 18 y owe l r e e r T t 1 m m e e m m FR e He a o r g T r n t a ie T t • Review schedule and budget ic m G T on ea er u 1 l E ow m L Hil e o 0 M e ht n A y 2 on 6 N p b e m 2 T h o I a N D D k . s P A tre c H 0 er o C r io S e N H . g w 4 r K o h r o P ar 0 ate T 0 T em s e l p 7 S Be e n Th t . a g 3 r ld s 60 20 e r i a en 1400 s f EM ic 0 u e R r o ir e C t to 0 M al 1 r 0 m ic F B 1 A s • Prepare the Real Estate RFP A a U V e s Des laza 5 M a o 800 P 5 0 t hi . h 2 Be • Issue RFP 0 s c u 4 1 ifi r B 200 e c y s 1 a 4 pe ss ing P a 0 0 v t t e a P s N S St a a d n r . Sh 5 2 r S Va el 5 65 Pl 0 o 2 C 16 l ella ne h ON 1 www.caribbeancorporatecenter.com F N o s • Condition and likely cost to occupy u 27 h 0 N p B w le e . Te l O n wa 0 e 2 ot 5 h H o H ch e o n r 0 C a u t C h l a o H t l a Firs 1 r 1600 Emm h e t si d s • Approve counter proposal terms and conditions N s m r P h T h i , 0 6 u us 180 t D hris ia or 30 B ush S a rn n r 5 f C fo ve a 5 B t o i s V 12 l M a ro c 22 C 0 0 0 G 8 0 m 0 IA 1000 a 1 e 0 P 17 h m n ow N i k ist R n m T T 5 o A • Use established facility and location criteria to nt 0 0 i H e e quarter i s E 3 P Sc O ou ta ry ar e e F h s • Prepare and issue public notice of RFP LI . H H e 400 tgom G d T on M is A S l e M 01 ge t te C o o H . M 1 r t e L k te P S 55 Hea ea T s hel Hoo 4 1 h c • Sustainability and other “green” building issues C St C s ) Bu r 0 200 l 33 8 t e F 3 h 52 Fargo o i 3 s e lls M n n orld e w re u on u O W ua . al Sq 1 r t - ai r 24te t n i e n e e W a e m i C rk 8 a a t up M k F lt e t • Authorize the preparation of a non-binding letter of intent k 4 o e io B h r L Ban T b tig r M R C C i s u 4 r y ar 0 l F s m 2 S i KEY ACTIVITY 2 I i 1800 0 n 600 Hote k e 22 B m M P nso M 1 R t d ke l . Sa R M 211 O c a 0 r r e e 1200 u Pl l 0 n 50 r o B a 2 o f 0 e O G 0 1 e develop the RFP Mul Triton Hardi d 25 ant U s n u P 00 H g 5 S 45 t n 8 is US 0 ry 3 M a P r . e n • Send RFP to list of buildings that conform to the minimum facility and location criteria e w d m ( e B . t B C Wes P L ckton allidie Montgo 16 T (vac ai N fu ur ar to t y H T ush u ter/S Gran e earn 0 t a k B h ut 33 K 23 & u k S 3 l. 222 n M I n n A P 0 • Costs Loehm r a r B A . S t A e g e rag an Bld e s P ri Ga rl 2 21 M KEY ACTIVITY l) p ng a ) nn ia p i H E p k 2 I t l r ssio 1 day iden . Pa a i i t c l s Apt s ri o e t e H (r t a t 4 Am M eri s 19 E l s . E l e t 6 a . s G H l T M La P . S y • Develop an investment proforma that projects income from leasing excess space to third party tenants and . on . T s 0 ia a An a forn iron 400 B o i 0 l at 50 an C a Fl 4 b l P Pier 24 H R 0 G 1400 800 t A 0 e na e 0 o n’ Bank dg. n n 5 rans i I O l l • Establish RFP Schedule, process and evaluation t B o r t R T s E e r O m ) • Host bidders conference (if required) G f Art I v c e . rs 9 e 200 za pts. l ad. o ical/ P e k t Fi 9 t r er r C Wh A Ac d k c T ed S D r Me mery h e E S L 1 t Pla ea a . ntgo N t on i T A C ldg Mo C os • The locations are tested to determine impact on employee commute n al B 44 r m Futu nt Sp E i e n ns A . a n D H on t t In U op D IN T Hot ay 200 r 9 a Hills 1 o 5 e d e r S I i m t 5 P r ol ter ut N 4 m r T n H t S s i Fre T u o t S 11 . S 0 1 l INA 6 45 8 n e (p w 34 n E 2 M t r r e ia b ar er S e E m I wa qu ll 0 S e e S ut Ga O v F o O BRI 0 n a ri k R residual value at the end of the analysis period. This analysis is review by MTC/BTA • All parties execute purchase a sale agreement and Agencies put up deposit a nio on e 0 rg I M s KEY ACTIVITY l U A e 1 r H . 1000 gh M r t Ec a 1600 n 0 O T 17t S Y e k t 0 rag ar T T R 18 3 N o Ga g. P n Fol 00 use Bld a n qu 8 ( t 5 P Ho B o E 1 o 0 fut t e r S A t t S 3 A . Hot hi r H 6 criteria St e W m l k l e te . v 0 P Ho r d T T e 1 u l n e r a e e r 0 • Receive and review Real Estate RFP o e k tt rm roc d Su 400 She C g Y h F r re R ark te t S n Spea el r o . R C o a r I B e g. eh ia Farg M s w I an l S ld m er s es 1 h n P B r ll ll • A financial analysis is performed to determine; • Review revised financial analysis and recommendations with core team and sponsor R e e e a 5 ers n She x ER illma C lay V G W E T 7 n o Go Tow olita T u T e S i r za n D o 4 p T de 8 o 5 H isc tr o r ST o c e tt e 25 P n U w R t la San Fra M otel S elesis To Bank M tev . ld n P 0 H 2 T e b 0 b y A 5 S ie 301 en t rris • Engage in negotiations with landlords • Formal due diligence process begins (60 to 90 days) lu r er 9 a N C on m i lls a 1200 t e go s m p 0 0 1 z al 0 C am ne Mont O B 5 7 o Gate . i r O M n la RANSIT 2 s ) H H l l 0 20 es P Hote Hote t G a J e T 00 o A 8 e ine Plac ton & r P Fol w • Retain Architectural Programming Firm cis pp p n K k T T Fran Phili C am urto T old e irst L • Determine short list of conforming proposals 0 rbury Sir shb e t y Y ra ante A P t G a it F t 00 C 50 i 2 n 0 er 1 t 0 A 6 600 a Drake C ent r 00 Pos N O G ers 0 on si K al k 1 n M rancisc v 1 B t o • Occupancy cost for own verse lease options • Approve funding structure and pricing A F 6 Lo n att 10 t R M t m nati 8 Hy 2 os O 0 r n ier 2 e d P ni s e e Austi c l an . e A t 4 e r a 1 m P of ot G T r In o 1400 ad m M b H S T r U t 0 C lu k G W B F n f 3 t 5 Fir s M 0 o e o A a l P M 200 • The Core Team is reformed and Extended Team members are identified ori E 5 e o e ot 8 t . 33 9 m Hot e u 0 4 H 27 P • Present counter proposal • Upon completion of due diligence, negotiation team meets with landlord to discuss building r 1 r 9 O r st use H m i 0 o d 2 n ) 0 P K ris S es t e 1 M ne n r re BU . a s O M SE S M 00 a o - utu T y ic M on Bldg A l t n 3 1 (f S r P s f e o 5 cello P echa za c h i 4 . ris Bl s M la d P ssio P o han 60 P o 3 e 5 H r l 3 egory C o sson N n n 543 a TRANS ) g r K e a • Prepare list of Building Options that are likely to meet G r l cK nt S l . o t t dg P s e M 26 S k s t w O d a t Hote S R nstitu e 2 CON h m a 00 ld r e I 6 i a t n H • Tour facilities b a g 2 1 B o ost Mar w t H c P o 2 o h 800 pi n 8 o Sec Miss r S C hurc Olym . nue 8 5 n d n n ne e 200 t me k s Av n C 1 fth B o Fi h o o y i k P d Folso T O • Established the landlord’s economic indifference price • Approve recommendations and issuing of letter of intent n . e r l y s H e 6 ag St r ll s arn io ris 2 ore Ga P we d s Ke r a d g o p S t n r mo 21 P c um t y Sec d 5 n 01 . IS m 4 g G residen a o o e 0 t rk e C h a d 5 2 2 0 M 6 n . 1600 o . 60 v ow 200 P t 6 0 3 o 5 • The work plan is review and a project schedule is established l il re H a T D g n 0 o ic e e i if / n 0 at c l 1 M u • Review preliminary due diligence issues deficiencies and remedy a a 0 d 0 H tern n P edic 2 t ( t d C In Pa M l T 6 S Sec fut issi d 00 mian . O S gton 0 Secon t. ar 405 (fu P 1 Bl Hotel Bohe lub otel l Bldg P Post . ashin 5 5 u S FOUNDR Y C H ta W o P w N the Agencies' requirements O lympic Den Lane . 8 re n o P • Identify possible building “due diligence” issues 1000 . C lub Mutual g ) 5 H . o Pl 400 ny 2 0 s sm T ear T A 1 C o 25 K 690 Bld 4 50 r D Howa . S oft • Comparison of occupancy costs on a Net Present Value basis • Issue non binding letter of intent to winning option 4 O L R a 2 evel. r Regency V aiden ket ron Pl a d r 0 M Ma or e 400 p Con 0 y i ha b c l e F e 4 d n r Sp 0 rsQUARE r e h S c • It is important to determine how prescriptive the RFP process t 0 d hea 8 n Sit d a • Negotiate transaction structure (if a joint venture is considered) • Based on outcome of due diligence negotiations, the purchase and sale agreement is amended T r n en o e  H i aid ote c . e 00 Ch g M e n r 11 y t Fer F E 1 H e T 4 N r UNION m S S O i e 1200 eg AR e l r U Secon Z te u Beal ST P Plaza 600 Ho s SQ Lane ac d N 0 ost A r t 1 er H a t e • Prepare presentation for project sponsors and key ationa r tt r r a 0 Su R c N c n . P a E e t 3 8 o h A 10 • Given short list of conforming buildings, determine likely investment structure and review with MTC to determine o T . atell UNION Pal A w y o o S e e S T 1 s . U eight T s Don e r ma d r 2 S H S t of . i ie ity c otel E e P U Sp P C e 4 H . P 0 is k N ( P o ranc P ST W m 7 d r f S • Based on the financial analysis a negotiation strategy developed: • Review with facility committee l F Me l t al) St. 9 o 2 e u P . r i t 0 oc raton 44 nt l t 0 ide Firs 7 g 1 s t . (res ra t n on id u g Po II 4 o 0 ide he r w needs to be given legal requirements and Agency policy 0 Isad ons ationw . An S ont Sec e e ld • Receive revised proposal from landlords • A closing is schedule (30 days) ative S N g . M 8 n s B t ter Pl. LAW FIRMSN onad ld t ry M 1 d tial s n Thea t. lin n 1 n 00 o Sha IN THE MARKET Galaxy S C n P dg. SQUARE rant- M B 5 i S e O o 3 d ip SubstP o A 2 ca 4 ll Dun Bl G 68 et e om e K ) 5 r G& m va r management to review RFP process, evaluation 1400 800 St. e g rc N o Sec a Phi E e e ) ( lo t P 200 ary t i t r w Fr ur r we 1 e ial Stree ll A G 42 ark s ie e o 2 400 5 t t es n o t conformance to MTC’s investment criteria nno e a k Post Hotel Maxw 7 rs M s on w y T t Bld H 00 t 2 fu n To T n 2 loc y e r G 3 ( id e 6 erb r . e B The io w o tter Plac Hem Towers D l C ente ket ea g J M e N me G r n ide n . enti w e s ryan u 0 te s r S 0 a H • A counter proposal is prepared • Present to the Agencies boards for review and approval E o cu V M 0 ) Diva SFWD H an Mar ld d . s 9 go g ( Cen o res g e rri in B tial l im B ew o . r evi a a 0 n e t t t ld r o ide 0 n N r O esi erso al g 400 s H (re C S N e B H M w M t b on d ) 80 . E Thir s P n T S d n • It is also important to decide whether to issue an RFP for purchase o Ct o 91 y’s C r 74 M M t S rid 01 0 • Revised financial analysis to incorporate changes • The sale is executed at closing 6 2 ac 5 1 enti ur li B 3 ss M e e 1 . l A Burnham n N e e t r e T n ea 2 7 d t 3 P . 2 4 e Va e t Am 0 23 . o 1 w n y ( 3 T d 3 c Daniel a s t H E . 1 o e e ter l Geary W ell 7 w ra o al S re 3 r Si t en 1000 c u 03 arag nt . z N iness C 0 400 ndlery y er l 0 R o Sec 1 ) t si Fi e . Frank rt us h a ar G 1 elc h H r d d r criteria and likely list of responders 1 B azar Ge Fargo M S 0 Y M 11 o 8 n S e s c o ryan i at 1 t • Core team meeting to review results of first round of proposals a lk ’s c P n P 6 A e cy 71 a o t t r a t 4 ourt Squa M M r t 6 o P ti i B C m n 2 e . t el s ham r nio y O n ank 1 k l Minn P a rn 0 ate U B a P S H on 0 l Bu he r e . Mo 149 Sec 528 l) 38 ie T • Key negotiation points are identified • Post approval by boards, issue purchase and sale agreement an 0 n’s k t T D y e Pat m ar M P M 6 Ria T ran 0 e el t e O 0 T G Ho ford rant 2 e T r S 0 G o t d H nt r e Strat s a r N a Fo orke Tow PO n Hotel Macy’ re 71 rr Bldg . g F al Y ra r o c e RINCON of a building or to include leasing as well ter C ur eate St 7 i l C Pe LAWTh FIRMS otel s Thi o w s 1 99 e H i M • Prepare a comparative analysis and recommend an winning option • During this segment design work and start and a construction bid document developed E Ba M g SUBLEASING SPACE B me o tial) Geor e f I P m 3 R en ing S enc m 50 Pier 30 id er K r i a l r res el eat .T. l Flo n d R a ( t h C la c 0 . paul il r lift Ho T A w V c k g e l) r 6 l lso 1200 600 l C Hot T 7 r e . D ia y 08 d O 53 m o te 31 o 2 E 1 o t ent t • Hire architect to develop co-location facility program H o n n d e o F . f n s s V H n 4 T t e 18 H C . di S 0 t od E o • Architectural programming work is begun S e M Bl d c 735 so P k i owa P ol o i c ( c s l a a l F C n r o 0 l e o ar M n e 0 r d n S r 400 g t (r P e t g k g e Par o G Be 1 s 0 i n t st Ma e r D • Best and final requests are drafted e e n S o n P 0 s . v 9 d 5 St e ( developmen 2 u n 12 S t o i e l e i re 9 Residential i l c 7 n d P s ran Y r r a r t rg O s i d t e 1 T eda a k i c s N n o T C e t . S A 2 . id r Mo ) e M a o Y y e HILL al A ge g. ot ni c (future n ra ld c . y a B t P G n 0 enti w A a ter hela H T d . C t n P 8 U e E A r n C l 6 a nt Se s 800 i tow aci W a d Down 200 e al . N on a Pl t P nklin l C n st-Fra 1 ) nal ot inn a ) d ec i y rs . Po E o t W ati S u Fi R N H . s S Sailor T C N C 2 el i M m on ) 5 n the . t C y 6 Apts K Hotel Ho evated C enter n eg o m ec e 3 e G of P S 0 l l MARK il E T n ldg t it 2 edral H ian bert P sons sio B . R r a e S S m 34 N R ath forn Y Her . 400 0 C ali . a tio is e n l e g t P R C Hotel ld a we E rclay Shops B 790 Se a z M il io St o N cad r ve l R Ba . m la s T A A 222 e C O bst u P ant is A ilton 1000 H rc of D s Y Ham y I Hotel arket our . Su use ie e M m ( a 200 P m

...... r it L M F P 0 A Pie m ) s u u C St. A arl n M 0 m g Bryant Square Y 400 Ellis- St M re es ca 7 se a n ini R Inn sie ish tu J i m u 31 d h m ) rminal ay Ye r e s si B Te A H s u e M Ship E st GEAR 8 w M 6 P apti ode l e w f ex u t a e n Co 0 o re B Cruise B R 2 o ’Farrel B u J ( ) r T n’ 8 d m kk O r Je M u i w a R T C R 0 d tel N l ld m ba e A ari u 5 m an t t N hurch 0 Ho A Hote g b use r isco 0 o m Ma L f on developmen E C a u s r so M E Mixed-use 0 e . 7 o Buena M t t c 0 H er n d t l o C (fu 0 arag ern P G tel n G ld r o r y o Ho Unio s 85 t (fu A 6 sh ni r a F a ) P ran od H i r nk H (future t. wers s M B F O Fi U ot d E ric r M S tonTo N Gate are a he d M a n Secon s Ba e e n isco Hil Squ Ros a nk L t an an wthor e t s w 1200 . ark Twai an Franc rk ane or S of ne 40 e m To J M S Address I Firm e s f SF (approx) LXD Comments x A 600 9 t P 2 k T. tel N 9 t k’ or S E 1 SJ Ho c er ries SFF h oe Pl. . 7 ke n (fu um ne th t t loc 0 l ST tri Y 4 o r ers Steve ia ar s tu a ch ent alle or D w a or e . C y Tow AULE aliforn P r C G a z N E 0 t Trini 0 C M n . F w ) Mc s e l re St hu H Pla 2 o 0 0 al 0 ing v rian residenti K nio St. Sav 0 e e retai C N 55 8 d T S irst Unita olk ( PAR Anto 8 t P l 2 on Pier 32 F P S H T yrtle 901 4 Hot c A & C enter M s vy l) ote H horne rch N es 0 H t Se a 00 R C hu 1000Van r F riott a w z 2 800 0 llo Na r w a 200 Montice O a SIO W H e T R ld ma M S th 5 Pla d 4 1 633 Battery Street S O Keker & Van Nest LLP ±125,000 RSF LXD 11/30/2012 Touring space: Focused on buying a building in Jackson Square. ag V n g. 7 KRO N T In lood Bld I alo r U I a o hon on ill ) K 0 F N P e c r V T N l t  n ec e ial I L 0 N R M Plaz i e arat S d nt S c i N OI ote en ts n a l M 03 e P . H C r io K P H ys d T T 3 i ill East O'FARREL TENDERL TIO 8 c II A nt . a Bel x awthor95 Ba thedral H G ND P c 55 . MU A 2 i & h H e e p e res G C a Olympi Parc ell . 5 rt v ldg ( ntial) W 1000 ROU otel Pow T T Ma Pac I A th n B lan nn (reside AYG 400 arage l el H Fou er o A C A PL Flood G Hote Hot S S r B A S for C L ne B S 8 k at S O Y St. T e 22 R e e n 2 ca A C eri t ter he 0 of Am R N . T r k T 0 Ban l en Oney Embarcadero Center Sideman & Bancroft ±22,000 RSF LXD 1/31/2013 Evaluating Market 2 arag . 0 A E a s ll C oscon 0 e YE U w G t P Po SOUTH C ne M VE illiam a O B ) D ori ng h W l WELL s al D CCS m i H ’ o t i k r ell Wes & t own BUENR Me h r t. 0 e G o w O a C m Sout e h nn Po e ale . t 0 lodg S Pe Hallidi en Cente F r r P S B o w rave t J P P T e e P d 6 e o S . 600 H otel r O i D to A g a l To n o l H ngd SF n ols n el Visit N 1 t i o i P o Ho laza R w n F a P t i H R m res w S G t n 6 e t v t r 0 li C K n O P ion n U ter 6 3 w e o DEKE . Informat oo ail/ e t e 6 3 o Pier 34 l arke m © 2010 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions0 r l BOED n o en 6 . nter Bl ret M te w ther C 200 m so D 0 e e K C e n u n l 5 O PAR . MET r 35 Morris Polichr & Purdy LLP L ±20,178o SF LXD 2/29/2012m Fol Touring.P i BEACH rillon ST l tu 8 t C 65 D The C a Bristo rtin n h lso R ) elodge 800 tre (fu y a e t o al av E (residenti r Tr otel . n t M nv D ou F ce E uthe n IS 200 dor H en t Son en o S N Martin L owntow ELL enter mbassa C S treo m C R r C ) LAN or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to yourD C el A 8 n D C ivic Hot S o e n e Pla er 6 elodge c m ie B 32 r nt SB w ial o d Tow Trav Hotel is o s loomi M tai A e o n O 0 Zee r t s M r te rris A I P T nc st e e i e C S D dent 0 d k J ss en oscone W t 7 i Ha r ( M 7 Seco T ar C ion . C D . Fra o fu n io Ent t res 0 R C SFP . n N M t gda n O n ( 60 St 5 u e 425 i l A 3 353 Sacramento Street Sa Berryre Appleman & Leiden LLP ±30,282v SF LXD 5/30/2012 Recently renewedd their lease. n E R 0 86 le’ n c era satisfaction the suitability of the property for your needs. T 100 400 ) H o 642 on o Y Dahl s C n . ed A P ec t F S 8 tel e Ha t T o H e S S B 2 W h ne 0 g on r 0 an i H c r 0 a e y e o O 0 alt iso 4 r 0 Hot D a n ara O at os o t a 800 lac B M r V 0 e il G M n e t P 3 f e k g as i e s R M E d r re ty e ar i ) 33 i e r Sac n l l in u YERBA t m F s m 2 l al e o l M C d nc i ar ) rt ote ark a w t Squar ee T Hea e 0 01 I P P o al r Wharf lynn olleg FT H Fr ent T ti & St. F C 600 9 an St ) E Brannan

School 0 on r nt id l. s ryan en y al 1 4 Dechert LLP ±21,072 SF LXD 12/31/2011 Currently touring the market. d i i B ) nn e ti k ow C enter T. o l ss te res 0 n lock oft a c Bayfront urban par 2 5 ill Sa L M 0 S o i ( C r Pier 36 W e H n N is w t l P M P e 0 so 35 lofts B resid an s 0 . iden 0 O a ldg k o e C 6 ( ( ) Dean B a H k & rri l el I (future el c n 400 D es A t 0 0 l Ho Y O i . c (r Hote DD el Hot w h fth t tio ar Ha E ge Hot ft Fi S n P ) s N avan Lod P s Pick Fi e n BUENA m ial 645 N C ar es . nv io S ci Federa l. 5 s d U O pal P Kr g D 8 o seu ent n d 60 800 200 d an u d T on s N Bl e C M i . Fra c t r SFF xp 0 e S M S n es . 6 E Se ee Secon A 5 100 Pine Street t Robbins Gellerco ±18,953 SF M (r LXD 7/31/2017St Relocation to One r Montgomeryer Street. ow T 0 n s St 01 l 20 T i m 0 T s u nt 5 a 5 an n ) . R 0 e Place . M Mo e e P C er 2 n tial Eddy arfield s .S m Z e na B . W U s d en e ddy . Franci ld eu P ous t. Fe Bran ran id 1000 815 E lifornia Theater St us H . Hou B ous C a 400 M O M ts ) ll S he (res Theater . i oolf p ial an 0 d T reh l) C ulinary St n A 2 FOLSO ohn Be . 0 n a ia 8 t. t W ls t m 5 o t Larch S St 00 ent ic S ll W n 0 emy de d c i . al Acad . r si a t Sec t . nt ide 0 e M en e P S S D 6 2 Embarcadero Center O’Melvenyt & Myers LLP ±171,000 SF M (r LXD 2/28/2020 Subleasing floors 6,20 & 21.S T es 9 rie 39 en ms a 2 EC m 4 (r o b n S O C 00 da in 52 d 27 a ank d M oo nited B 600 a ta 8 A er i on U g a B rk co D S t. L ec ON rann N e 995 e th nsel ent t a S o B Pier 38 RK . t o f A C . S p . w k De TU YMC A VE e rg Fi o u l T JEFFERSO 4 A l a i r P Ma Francisic F 55 rs e L . Par k 0 1 e S AR E 626 Tur rk n ron lls w fac ent a D 9 U e 0 . e E T m p SQ urthous et t Sa h & To & o ni C u 0 9 d . t U.S. C o S C W G e AT z 5 s ol Distric al Bldg. & 7 50 CaliforniaP Street Holland & Knighte s LLPP ina ±24,338t SF ols Bo LXDS 4/30/2016 Renewed74 t lease40 for 10 year term. pt o r nified Sch Fede n Gate ffice nt . oli F Rui t. 4 Secon a A S.F. U nt C enter 50 Golde Post O co nc e t P 95 zo yan e 800 velopme 4 200 cie m S ce . 7 r n 5 n C hild D e S le ri ren t. B O h 27 a arin 6 S e C pts o S C M nt St. cl of Gal eat A T L l k ch ployme 0 S Francis y d C a a Ja Sout rann o Em T n oni m n z ar B l ea 0 r ar l d San i c P i ment D I Sa h e a a R k d n B Develop za X C w ar . gh n N . P Pla a . Ma e nt O pera Acade Ho St g v 00 n con se . K rtme l T a qu e S K 3 a e epa e i 5 S r e South D an N ess ry n 7 ’s 0 o A R n S ou l 601 V 0 H Quinn Emanuel8 LLPa k ±39,00031 th SF r LXD 2/28/2022 Recently renewed lease.rk 1 ly 400 0 S c 0 eh ernia 0 t ifor en tri e r a a A Bran 6 ar J Strategy 8 Elm Hib 1 . Bu ar ou S P . W r. Cal F t s r P S 0 . Pa C . h e d Bank St y RRISO 40 e ut v t. 0 E erba a b 0 AT Y D S Food th y 0 a o A hen Pier 4 s N G s T r rr T S H rk n AR D F. Employee DE x u e a na YW S. O L dg. Anne oft . hole Fo HA P T Sout HA D it Union/ G State Bl Hastings L . s W h P ran Cred B s 99 a ) U Bran OUN nt 600 t 3 or ial 1 t B YG R elopme r e of Law Loft t 50 u L 01 d ev e g d PL A Red C olle ie s Ap a ) Aur en ir O So o 0 n 3301 rd en Business Drivers Discipline 4 e 8 One Market Street – Spear Tower Schiff Hardin & Waite LLP ±37,000m SF LXD 8/31/2021 Recently renewed lease. Agency C ar s 800 uen id Th S n 34 na fo ns n ram 1 exi do 0 . Mi es h 0 ntial 600 w J Hotel J xt 1 h P Al a B e (res an o 0 . Folso d Bldg. B Si xt si n Bran St d 9 T State . r Si 21 35 4 Process ood St. ister ST e 88 20 Yerb 8 e re d w All n r econ Red ll 350 Mc h u 50 n S d 800 C ity Ha a . 0 t P 3 Base Scenario 200 m St (fu l. con Secon nex 5 640 g. An d P Branna S Se 99 Development 6 ld 27 t 7 ice B S h . r y a 6 tate O ff 450 ft . s hi T e n 50 T 5 0 ood S 0 Fi t pt T 6 o w T Sedgwick ±115,395 SF LXD 12/31/2014 Subleasing entire space and relocating f to .w (former Heller Ehrman space) Red ster g. 0 S A 0 H rn o 0 Alli l Bld a r n Economy.com n Swett Mc Federa U.N . Plaz 0 o te 52 Va r s h Joh O ld 10 1 in d en Plaza . h en I S d School 50 U.N . lip C R t Sout Fift Fi . ro 400 m tion D de ) 2 seu 60 d San Francisco Downtown ER ian Art Mu 2 ca T D a ial ST 0 As u on LLI 3 . d 1 SFF ec barc cA 0 n t E N 3 t M 102 io a S 5 8 S m sident ss A yan 9 E (re 9 505 Montgomeryi Street h Lathamam & Watkins LLP ±120,000 SF LXD 3/31/2011 Y Br RenewedR mid 2010. 6 ne . M h it O S T e R c To 1 S EVE Sixt T t h rd w 30 S • Leases ±82,502 RSF on floors 19-25 S B hi n To 10 600 TION s Four-Year Vacancy & Rental Rate Projection S NA . 185 yan T en w 1 T t r P C n a B 574 s k d s . SOUTH t a a UNITED T 0 9 en e n ell l A 3 an i N ti 30 5 d f h B B W o PLAZ S n ft Z o I a r e Fi oe g rd r . n emorial ST T 00 m 800 n 1 To i M N o ar d Far 64 BEA C H a ran’s W H 10 r le S Thi w f Vete 10 600 Montgomery Street Stein & Lubin LLP ±16,300 SFriso LXD 12/31/2011 Working on renewal. 123 n | Job Growth Forecast r U Moody’s Economy.com 400 t 25 T owa C a s . 6 o se CIVIC n H h S H le 2 178 wnse T 1 T nd o o M o 5 5 wn 3 wnsen 6 I Sixt T H ap . e T 5 B er ns 5 u 85 St t o C o n ldg N HARBOR 0 at . s YOUR REAL ESTATE STRATEGY . ST e 2 S Z wn d RETHINK t h T l . G 40% $80 Ash S rpheum N ve 2 lb Discoun a en . 0 O UN e e re sen T To 1 d d O t r F n S wns 39 IN I TIO S R 0 t Warehousabric nt ce d T . M e d Projected Annual Job Growth Library u 0 9 t m r P en g K A sco Main TA ss 0 Fa 39 h s Thi l d in T 101 n Franci 1 ft d 600 5 . K & S • Lease expires December 31, 2012 a e S 11 351 California Street Bassi Martini & Blum LLP ±8,062 SF LXD 8/30/2011 Touring for ±15,000 SF. r CENTERr Plaza S . lm Fi 66 T 1 1 d 8 nte t e evelop 2 $71.22 C ivic C e T S h D Sit Thi ow 8 15 en 1 D all R 200 o ta . 0 n 0 s O 2011-13 2.5% C ity Hall Brooks H ie u l U t 62 sen n N R A ss n th te S ow rground) CENTERB e ter 5 o d T O CBD Building Comparison (unde J R 96 m H F 400 ET Tenant Advisory Practice 400 es o y C Market 35% $70 & rn W E ls le O d E M DURING PERIODS OF ECONOMIC UNCERTAINTY st S o p ir IVIC O te . F h S 2014-16 1.8% TO N e . C es Be T C O S T UL ra Hous ST R 8 Shi U t. 60 F 4 rial O pe 12 W 425 Market StreetS H C R Morrison99 m & Foerster ±250,000 SF LXD 1/31/2027 Recently renewed lease.6 5 d emo st a M 7 0 ar M 5 E so R 1 en . W Be 3 d rr E ol t T 0 r F h T ns Fit MET 10 a ie N A A 0 yan h rt w w t 0 r ls H d o S W o T 4 h B e Fou r T ells H T I ra ft 60 0 W 8 MA hi O a Fi 6 0 sk 1 T E 3 l 6 54 n u C Z 0 17 • Two 5-year renewal options at FMV, Far R 0 C L l A 7 0 S N 1 na y (f K 30% $60 go Sixt Me d u re u i nt of n ran e to si tu ng k partme T Ban 0 m d re ar 200 De 0 EI 13 500 Sansome Street Tobin h& Tobin LLP so r ±15,227400 SF LXD 11/30/2012 Touring5 B the market.S o en ealth k 2 l S rri li 7 t. t S ti allp lic H . a n 4 i a $50.42 Pub rium 1 ote G t. H ve T l) B ve Audito H S L . ts 101 Gro am C ivic HT t. u Bill Grah can 938 s ian Expert Market Knowledge is 0 k s G t. 0 h er C Base Case 2 alesa S n rt S d h W H 0 H 9 r t SB Corporate Finance/ Capital Markets 400 0 Lec Franc 1 a 4 lo e . or J r 3 e B 0 riso e 8 Fou s E San ul r 1 a O V all ia M n F -54 n ) 60 oft Harp laz provided The Fremont Group is in 25% $50 GR rpal phony H 14 650 California Streeto Jones Hall,S Hill & White LLPMu ±15,000 SF LXD 8/31/201430 na al f SubleasingL 18thP floor. o i INITIATIVESV avies Sym DETAILSHayes s T 5 k o uise M. D 150 s S Bl ll n a Gallery Lo 5 . d er Bran l t t. 03 g ident Ba eric 200 a . ke 1 om . e m nti 4 ST s . t (res A St. ar S . t i de 0 ol h i M t. T F S e 0 h W ac S ls n Pl /Res 800 y 1275 n S e ieri io 600 nt $38.89 CBD | CLASS A Ivy Iv In t. N ct on urt W si • Local / National / International C o ay C ru is s d 15 Jones Day LLP ±65,000 SF LXD 12/31/2015son st Tenant expanded by ±17,000 SF. k 200 Plaza 200 o n n M tainme or ) 20% $40 Fox oli l 8 le o r w ial • Largest West Coast Group S H u n O na c Robi C e s et 00 nt 90 Mark Lask m 1 so a nt e occupancy of at least 60% of the premises T 13 b k ran d $32.34 SAA ri l/E Glas i • Renegotiate early - blend & extend: GetC relief on current rental i r G B i a S Ha F 90 Chroni (res . i r 5 15.3% e 8 q o co D 6 Reta $30.35 t N S 9 u ve IFT 5 400 ar t La 0 m a ncis SFF (r 0 00 l M I . 1 re S a es Fo 2 ±30,000 RSF S N 0 n olso t. Fr id u ntia h AYE ducation 0 525 Marketgt Street F Sherman & Sterling LLP ±19,473 SF H n LXD 11/20/2010 Receivedenti rt landlord consent to subleasert e the Skadden Arps LLP floors. 16 h obligation by negotiating a lower ratef E and in return extending current 0 • Integrated Organized Response H 2 o ard 100 2 o Sa o Bo andise T 1 n Sh on al esid 0 ess N CHINA B ASIN 102 35Van N N ess rch H e ris b ) ay /R • Detailed Capital Stacking Capabilities OCTAVI 0 1 an r r 0 Mo h y 15% $30 Scenario 1 Scenario 2 Scenario 3 V e t u a B n . a l M o t m H 0 C w ment . S a 0 r Fif is ion in g e Le St issi d n 1 h ri Safe ss a in expiration. M n S xt s 548 enn . i rt K Plac ft and provides >12 months notice . R i M y estern t e ) 14.9% t a la . S T t C o al O Repairs and . W S 235 u e 400 5 co S Ent 225 ti Cost n ST n 1 s v 46 h is A l/ ’D & Solutions a e c S Sorr

Risk Linde so n ch l xt OUTHL ai oul 6 BUILDINGS n 17 C Jackson Lewis LLP i ±17,755 SF LXD 9/30/2012 Interviewing brokers. n i n S T Renewal at Relocate to Direct space at Relocate to Sublease space e 2 . S S r 5 Fran RA Ret Rich (residen . I Br v t t M u t e 7 12.6% e ar S m . h 4 P . dg 14.7% Strategic t M e . A San T Bl idg Hotel DYNAMIC S i ne A • Significant LL Financial Events s h I n $25.07 A s nt T 80 D CI E N S sin e 10% $20 • Commonality of landlords200 : Institutional ownersBldg. are more lenient in Je r e S / I (planned) Maintenance Herbst S ev EP FI R ingto l y Ba a t S N h a I 4 ss TE . N na . I Van N e 0 m S C as utua g n B hi g 0 30 0 d O U n d 0 to T 355 5 W M Ki sio C Bl T. 0 4 3 en T ) IN S • Tenants in the market N a 6 . an s M is al n N A BAS L 1 N 18 235 Montgomery Street Farella Braun & Martel LLP --- LXD 6/30/2013 Considering relocation to55 loweri floors of si 4 Embarcadero CenterC HI for ±90,000 SF FEL th n wn N 2 M a 199 Fremont Street 55 2nd Street at 1 Market Street allowing companies to optimize their Stportfolios. given current and future 33 n H 0 S o @ ent B Real Estate Taxes T e a 0 t t T G d v 8 . Bran n e r 0 IO on i na • Currently occupy 36,257 RSF ca H S rie ryan na N hi Renewals e (res 8% mpl B 63 I T C • CMBS nic Te t 80 Aval so . CB RICHARD ELLIS, INC. 2 Ma r t Bran 600 K A ss e S 0 N e Ameri 0 5% $10 25Van ent 0 H S 601 & T 5 7.0% lease obligations. 0 of 0 al S t 0 18 y Business C 2 l . 0 h rr Contracts 200 a 5 PORTFOLIO 1 ry tation Bank ata m H O Be 2% Hicko Transpor I D Sixt h 0 T f 19 Trucker Huss ±19,396 SF LXD 5/31/2012 In lease to relocate to • Global History artment o S xt 0 R Dep W t. Si 6 S R T a 800 th T SI N 101 California Street, 44th Floor ST. N s l S 59 if U E BA CBD | CLASS A h t. Jai I 5 F . IN A b y e O M H MUN u . S c X 70 C A RK • Distressed Debt E r t h ti 6 F E P 3.4% TIO n S s us N 8% L 0 S a u Count J T RELI r O TA 0 t Rod B o of H SH ) Strategy 0% $0 200 E 4 G . m sc l n NESS S a V 1 r ha i al a (future O s ace e 20 595 Marketg Street Chapmannc & Cutlero H LLP ±14,604 SF LXD 9/30/2011 In lease amendment to renew. • Currently sublease 46,245 RSF AK es E T er ra c eric . San Francisco, CA 94111 O ST n s rann • Industry Relationships AN R m N o F i B y N S s s T e r ) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 V A an N t rri San anc er al Pier 48 of V . a a Fr S 651 m B i MANAGEMENT S T in H ±25,000 RSF . MET O t 0 an o 55 2 O Bank H I n 4 S x ident St. South S e Be 14 400 u s ne m l (re TOTAL VACANCY % AVERAGE ASKING RENT O S n e rw I l B T www.cbre.com U C ic issio k ly M M 21 Covington & Burling LLP ±67,089 SF LXD 9/30/2017 Expanding by200 ±16,000 SF. H Li T • Consolidate or co-locate: Think across geographies. Consider consolidating453 C oB 1 n h rg o • Standardized Reporting I H ro e a ar t. 0 e sl F d R 2 S 200 0 H e m k V 2 y 0 a 14 BUILDINGS S D ree ) TWELFTH 1 n C l CBRE-EA 0 T r P c tia duplicate or complimentaryST .operations. Two operations may be combined, . e l ri ion m . t s en 9 ec 400 is id PROCESS A 9 t n M s Page 1 22 333 Bush Street Ho Shook Hardy8 & Bacon LLP El a ±37,128 SF LXD 12/31/2010 Relocating to Onere Montgomery Street. Analysis & Planning n San Francisco Downtown E an z ( y AG al) N . r de 80 P residenti . B en Bran d • Total Support for CRE 200 55 Page ( St 0 t G M 2 en 0 i n 3 A eliminating the need for duplicateT types of space that cost money but don’t D S l a 7 Darin Bosch N 0 d be n ns 4 o l r o w ST ST 1 e g rt S To Administration 0 n Bran t. 6 St. 0 . i 0 46 Four-Year Vacancy & Rental Rate Projection 6 t E R 75 1 S m D S S directly help staffing. or operating efficiencies.. S da 23 50 Fremont Street Pillsbury LLPE ±210,000 SF T LXD 12/31/2012 Contracting down to ±140,000 SF. A . R . S a c dg V S Tim Kazul Consolidation n M Bl A L T n E u e i ce . Ros M W N B • CBRE Consulting 9% MARKE ay 5 u r | Job Growth Forecast 200 t CBRE-EA w t n 92 CBRE enables corporations to use real O gh T te e Residential Pier 50 i yan S C H Br H P t • Build to suit: Most appropriate for occupierso in need of “tenant specific” or H l l. . (planned) l a Go o u nia r L s m 24 for Knobbeu aMartins LLP ±22,985 SF LXD 2/28/2021 Relocating to 333MARIN Bush Street 40% $80 t. a o rd li Pat io n . S L t o a g CBD | CLASS A ST n B a a st S n 0 C il t o e f rn 0 eorg Strategies s ra s ay N Be T S 2 t o Projected Annual Job Growth G n d a e te . t 1 40 Reta le specializedHT improvements. Offeren the abilityh to “right size” operationstt for current es . 124 t St GLL’S Power Position y S u n estate in the most productive and cost IG v S C e a • Tenant Advisory Analytics HA e S . t W 7 0 O . St t t . ( S t. t. S res H . 400 id ar rann n enti riso B u . . 2011-13 2.2% G o 08 io t T lt al n Glass Lewis LLP8 ±15,536 SF LXD 12/31/2015 Recently renewed. S K S and futureS space needs. o 0 ) l C 35% $70 O C 0 Georg e O T R ±20,000 RSF 4 . Ka n N 2014-16 1.2% effective manner. U . 1 St 570 IO . te S G D To IS F 20 dan e S wn 800 M » Corporate Finance ST i C c t. han H M a s Rent and Depreciation u 0 er o t EI en C n u R S O Sh v r d • Buy belowt replacement cost: Take advantage of someone elses uncertainty 25 111 Sutter Streete S Miller Law Group800 ±25,904 SF LXD 9/30/2011 Touring.CREEK PNC purchases 49% of u T S rs t. • February 2008: OTIS 60 L S e r . T S 0 30% $60 21 BUILDINGS W g O T t. . e lin . N ST ELFT s F r CHI 57% ER is l. a te A L e AL r L en GAAP/FASB/SEC Accounting Standards $52.15 W n K s P J c h C » u io n n M ft l t a H r i ht i al c iss u p g G ra m B e 26 55540 Mission Street0 Ei DLA Piper H n ±80,000 SF LXD 1/31/2020 Subleasing 23rd floor. N 0 s M r S 5 00 e on ont ig G 0 0 0 4 t 5 RANN C es er t 1 10 biti D A • Eliminate surplusp space: GetIN ST .aggressive early. With subleases, getting a . z B i ent IN GLL’s fee simple interest for $600/ SF cC O PP 165 ryan f erced n C M B 2 o M Be e Exh t r K B 25% $50 t se rs n l) rac te 0 A ie u a ia 0 o J ou ont Cen A $44.18 8 essie d H Lou rann ent C Valuation Metrics 1 V 0 Do onco B d » si ign SI sub-lessee in earlier, even if their credit is not particularly strong, can make a 0 C 1 s 1 400 s 4 yon 0 re e O 27 r 201 Spear Street Cooley Manion8 ±10,000 SF LXD 3/31/2011 In market touring for ±20,000 SF. E 1 e Be re D i St & u x S h t N . 2 S t. at (fu $38.89 - . T 00 B l T N d Y 600 . 5 0 big difference ona your current earningsI and NPV basis. O Be 55 0 . R MISSION S g n S 1 Ni r 6 ld 20% $40 Surplus t S B e I n te $33.97 e S t Portfolio v Pl h en on um St » Financial Goals / Criteria Space e . 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. $38.89 RSF- ±36,257 SF ±14,012 SF (17th floor) costs • Project STATIO N management HILL . • Costs – current baseline costs, financial objectives, future BART A 20% $35.97 $40 ±14,012 SF (18th floor) RSF- ±33,180 SF (5th floor) item, can you afford to not look at cost reduction ideas? capital costs, accounting expense $30.35 15.3% $32.34 Renewal Rate- $48.00 - $52.00 per RSF, FSG ±32,754 SF (6th floor) Project Brokerage 15% $30 CBD Relocation Rate- $46.00 - $48.00 per RSF, FSG 14.9% Management) 14.7% Annual Cost- $1,885,364 Relocation Rate- $23.00 - $25.00 per RSF, FSG • Risks – flexibility, recruiting & retention, volatility of 12.6% 10% $25.07 12.0% $20 102 BUILDINGS Annual Cost- $1,740,336 assumptions Annual Cost- $906,425 PRIVATE CLIENT GROUP 5% 8.4% $10 • Market – office market dynamics, cost arbitrage, availability, BROKER OPINION OF VALUE and feasibility of outcome 0% $0 2633 TELEGRAPH AVENUE, OAKLAND, CA SAN FRANCISCO BAY AREA | MULTI-HOUSING SELECT TEAM 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 TOTAL VACANCY % AVERAGE ASKING RENT PORTFOLIO iN EsCRoW iN EsCRoW ClosEd FoR salE Page 1 experience ThE MEdiCi lakE MERRiTT aNTioCh, Ca MilPiTas, Ca MissioN & TENTh OAKLAND, CA 60 UNITS, FULLY ENTITLED 387 UNITS, FULLY ENTITLED SAN JOSE, CA CB Richard Ellis | Broker Lic. 00409987 74 UNITS, FULLY ENTITLED 166 UNITS, FULLY ENTITLED 2175 N California Blvd., Suite 300, Walnut Creek, CA 94596 | T 925.296.7700 | F 925.296.7770 www.cbre.com/pcgbayareamultihousing Current PRojEcTManaGEMEnt PoRTFoLio Historical Perspective Planning | KPMG auckland Denver Security OPtIMIZatIOn Situation OCX, Virginia Melbourne 2,500,000 25.0% $90.00 Foster City Metro Center Doloreet vullandit at. 5 leases completed at rates • Currently occupies 98,105 RSF in excess of $110/RSF Virginia, OCX Data Center 2,000,000 KPMG $80.00 Scenario 2 Scenario 4 Virginia, OCX Office Building on floors 8 – 14 Base Case Ut iure con henim nit, sit nisl dolore do do cons FoR salE FoR salE FoR salE FoR salE Dot com Bust Early renewal & reduce Relocate now to 1 Market San Francisco 1,500,000 • Sublet 19,997 SF on the 7th Floor to 20.0% el irit dunt at at alit doluptat irilis esecte feugue $70.00 space at 55 2nd Street Street sublease to direct Washington, DC LookSmart through December 2014 feugait ipsusci ercil duisci tismod min hendit ashBY aRTs saN lEaNdRo, Ca Casa BElla aPaRTMENTs saBERCaT CENTER 1,000,000 BERKELEY, CA 52 UNITS, FULLY ENTITLED BRENTWOOD, CA FREMONT, CA S&L Failure Scenario 1 TRAnSAcTionManaGEMEnt $60.00 dolore feuis aliquisim ing eugiat, commy num acil 99 UNITS, FULLY ENTITLED 120 UNITS, PROPOSED 158 UNITS, FULLY ENTITLED • Master Lease Expires 6 leases completed at Renewal and Reduction at Ownership- Hines Ownership- Morgan Stanley & auckland 500,000 rates in excess of $80/RSF MIXED-USE RESIDENTIAL/RETAIL December 31, 2014 Paramount Group ulputpat. Lis dolor inim el enis nulla feugueriure 15.0% 55 2nd Street Floor- 9-14 austin $50.00 Call Center tat vel utem quisit estrud essi tatismolorem dit, vel • Expansion Option into the 6th floor 0 Floor- 5,6 & 8 8 leases completed at RSF- ±84,090 SF India utat, volore molor amcommod tat atum quatis rates in excess of $55/RSF in the 12th lease year $40.00 -500,000 RSF- ±81,959 SF Mumbai augait lum illandre feu feuis ad tie molorem nisl MELBOURNE San Francisco • Expansion Option into the 5th floor 10.0% ipsuscin henibh et lummy non verit wis nulputat -1,000,000 $30.00 PINOLE PLEASANT HILL SAN RAFAEL UNION SQUARE, SAN FRANCISCO Sao Paolo in the 15th lease year Singapore Madras prate magna adiam nostrud tet atumsandrem. VISIT US -1,500,000 Metro Center, SF Singapore 2011-2012 • ROFO on floors 2-6 or 15, Subprime Fallout $20.00 Vancouver oNliNE 5.0% subject to superior rights -2,000,000 $10.00 FoR salE FoR salE CoMiNG sooN • Two 5 year renewal options at 95% of FMV, so long Major Bay Area Market Listings www.cbre.com/ -2,500,000 VISIT OUR WEBSITE FOR MORE INFORMATION WalNUT CREEk, Ca liVERMoRE, Ca TiBURoN, Ca as Tenant occupies 50% of space Dot com Boom $0.00 BAY AREA MARKET UPDATE 73 UNITS, PROPOSED ±5.05 ACRES, PROPOSED ±2.5 ACRES, A+ LOCATION pcgbayarea -3,000,000 0.0% 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 • Lease is $31.00 full service gross, 80s Era of MIXED-USE RETAIL/RESIDENTIAL Overbuilding Net Absorption Vacancy Class A Average Asking Rates Et, sis ad tis ad tion volesse quatincilis del irit wis nos adio commy non henis A+ LOCATION multihousing flat for the lease term www.SFBayRetail.com eugueros do odion utat. Ro consequ ipsuscip eugiat alit autpat vel ent ut Scenario 3 Scenario 5 SAN FRANCISCO CAPITOLA VALUELOG luptatissit lortio commy nonsequatue dolobore feummol oreet, quis autpat. SATSURVEY Econometric Forecasting Early commitment to relocate Relocate to build-to-suit at Duisim dolorerat, quat. to 1 Market Street direct Foundry III Unt ectem dignim dionse vel etue et, quat nos am del in henis auguera estionsed TRANSACTION 2008 2009 TRAnSiTion ExPEnSES Q4 Q1 Q2 Q3 Q4 modit iure con ulla faci tio eugiatinim do et aut veliquat iuscil et pratumsan Statement of Work 3.86 Hines’ Position San FranciscoEconomy.com Downtown San FranciscoCBRE-EA Downtown San FranciscoRosen Downtown Portfolio Administration Services Technology Set Up elit at veliquat, vendre con ero consequat atinci bla amet ut iure dolesendit ver Quality of Information 4.04 Four-Year Vacancy & Rental Rate Projection Four-Year Vacancy & Rental Rate Projection Four-Year Vacancy & Rental Rate Projection Ownership- Morgan Stanley & Ownership- Wilson Meany • Budgeted $50,000 • Budgeted $20,000 augiatie ea adiam vel del erat, coreraessis dolor amconsequisi blandre minci Progress Reports 4.09 • Long-term stakeholder in San Francisco Moody’s Economy.com | Job Growth Forecast CBRE-EA | Job Growth Forecast Rosen Consulting Group | Job Growth Forecast • Projected $45,000 • Projected $18,000 Negotiations 4.12 saN FRaNCisCo 40% $80 40% $80 40% $80 Paramount Group Sullivan exeriur erostinim vel dio et alit, si erat. Wrap-Up and PJM Turnover 4.00 Projected Annual Job Growth Projected Annual Job Growth Projected Annual Job Growth • Savings $5,000 • Savings $2,000 Wrap-Up and PAS Turnover 3.75 BaY aREa • Entered into several partnerships during the last $71.22 Local Brokerage Performance 3.85 35% 2011-13 2.5% $70 35% 2011-13 2.2% $70 35% 2011-13 0.9% $70 Floor- 5,6 & 8 Floor- 6-8 2014-16 1.8% 2014-16 1.2% 2014-16 1.7% TRAnSAcTion MAnAGEMEnT Account Team Performance 4.49 PRIVATE CLIENT GROUP market up-cycle that utilized significant leverage to 30% $60 30% $60 30% $60 $50.42 $52.15 PROJECT MANAGEMENT 2008 2009 RSF- ±81,959 SF RSF- ±91,375 SF San FRanCISCO SPaCE Q4 Q1 Q2 Q3 Q4 acquire properties. Three went into foreclosure and were 25% $50 25% $50 25% $50 coRPoRATE cLiEnT STRATEGY/ MULTI-HOUSING TEAM $44.18 $44.36 • $1.5M rent savings generated by negotiating strategy Statement of Work 3.87 $38.89 $38.89 $38.89 SAN LEANDRO FAIRFIELD TIBURON HAYWARD Coordination / Oversight 3.93 given back to the lenders 20% $40 20% $33.97 $40 20% $35.97 $40 $32.34 Ownership- Hines • $800K secured in additional tenant improvement allowance $30.35 15.3% $30.35 15.3% $30.35 15.3% $32.34 cURREnT MARKET conDiTion Budget 3.33 Schedule 3.43 15% $30 15% $30 15% $30 CB RICHARD ELLIS, INC. • Improved flexibility in expansion and termination rights • 55 and are in a syndicated Core 14.9% 14.9% 14.9% Post Occupancy / Punchlist N/A 14.7% Floor- 9-14 101 California Street, 44th Floor 12.6% 14.7% 12.6% 12.6% DISPLAYED PROPERTY DETAILS Et, sis ad tis ad tion volesse quatincilis del irit wis nos adio commy non henis Value Add 3.58 10% $25.07 $20 10% $25.07 13.4% $20 10% $25.07 12.0% $20 Fund that is cross-collateralized with very low leverage San Francisco, CA 94111 PRojEcT MAnAGEMEnT eugueros do odion utat. Ro consequ ipsuscip eugiat alit autpat vel ent ut Local Project Management Support 3.75 8.2% 5% $10 5% 8.4% $10 RSF- ±84,090 SF PINOLE: Net Leased Burlington Coat Factory | $8,800,000 SAN FRANCISCO: Retail and Residential Hotel | $4,750,000 Performance 3.75 5% 7.0% $10 luptatissit lortio commy nonsequatue dolobore feummol oreet, quis autpat. Todd ViTZThUM JEREMY CliNE siMoN hERRMaNN CB RiChaRd Ellis | BRokER liC. 00409987 5.8% www.cbre.com architectural fee negotiations for Metro Restack • The fund deploys capital in core markets, targeting stable TIBURON: The Primere at Downtown Tiburon | Price Negotiable HAYWARD: Former Dodge Auto Dealership | $3,200,000 Duisim dolorerat, quat. PORTFOLIO ADMINISTRATION 2008 2009 0% 3.4% $0 0% $0 0% $0 • Construction administration services not-to-exceed amount with all savings Q4 Q1 Q2 Q3 Q4 Vice President Vice President Vice President Two Palo Alto Square, Suite 100, 3000 El Camino Real, Palo Alto, CA 94306 assets with a long-term hold strategy 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 SAN FRANCISCO: Mixed-Use Opportunity | $8,750,000 SAN RAFAEL: Marin County Land | $3,900,000 * TOTAL VACANCY % AVERAGE ASKING RENT TOTAL VACANCY % AVERAGE ASKING RENT TOTAL VACANCY % AVERAGE ASKING RENT Darin Bosch reverting to Visa Accuracy 2.75 Lic. 01475165 2175 N California Blvd., Suite 300, Walnut Creek, CA 94596 CAPITOLA: Retail Anchor at Capitola Mall | Price Negotiable HAYWARD: Foothill Retail Center | $3,000,000 * Unt ectem dignim dionse vel etue et, quat nos am del in henis auguera estionsed Standard Reporting 3.00 Lic. 01303121 Lic. 01303122 Ken Gilbert Ad Hoc Reporting 3.30 • Current strategy is to not engage in early renewals and/or Page 1 Page 1 Page 1 FAIRFIELD: State-of-the-Art Auto Dealership | $7,750,000 PLEASANT HILL: Jr. Anchored Power Center | $13,650,000 ** architectural fee negotiations for San Francisco modit iure con ulla faci tio eugiatinim do et aut veliquat iuscil et pratumsan T 925.296.7709 T 925.296.7711 T 650.494.5124 Brian Talbot elit at veliquat, vendre con ero consequat atinci bla amet ut iure dolesendit ver Financial Exports 3.30 www.cbre.com/pcgbayareamultihousing | www.pcglistings.com MARINA: Marina Landing Shopping Center | $5,900,000 SAN LEANDRO: Modern Auto Dealership | $6,100,000 ** • Savings $54,000 Thoroughness 3.75 restructuring of existing leases augiatie ea adiam vel del erat, coreraessis dolor amconsequisi blandre minci Communication 3.75 [email protected] [email protected] [email protected] • 153,000 SF • 42,000 SF • 57,000 SF • 97,000 SF • 100,000 SF • 350,000 SF SAN FRANCISCO: Union Square | Price Negotiable Value engineering for Denver security barrier alternative exeriur erostinim vel dio et alit, si erat. Value Add 2.00 Select Team SAN FRANCISCO MARINA HAYWARD *ESCROW | **JUST SOLD Landlord Requests N/A • Strongly optimistic with annual rent growth expectations of • • • ONE MONTGOMERY ST. • 303 SECOND ST. • 555 CALIFONRIA ST. • 101 EIGHTH, OAK, 939 ELLIS, SF • Savings $388,000 Desktop Audits N/A ©2010 CB Richard Ellis, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your Ethics 3.75 • RELOCATION • RELOCATION/CONSOLIDATION • RELOCATION • RENEWAL • TRANSACTION IN PROGRESS • TRANSACTION IN PROGRESS responsibility to independently confirm its accuracy and completeness. 10-15% growth through 2015 Performance 3.00 Experience CB RICHARD ELLIS PRIVATE CLIENT GROUP | 2175 N CALIFORNIA BLVD., SUITE 300, WALNUT CREEK, CA 94596 | 101 CALIFORNIA STREET, 44TH FLOOR, SAN FRANCISCO, CA 94111

Standardized Processes Cost Transaction Activity Portfolio Features SAN FRANCISCO BAY AREA SAN FRANCISCO BAY AREA and Procedures Reduction Reporting Optimization • Highly visible space on Market Street at the intersection of Sutter and Sansome

Program Program Capital Markets | Private Capital Group 555 Market Street HUMAN RESOURCES RETHINK BROKER OPINION OF VALUE • Prominent glass line with frontage on busy Market Street Plaza S A N F R A N C I S C O , C A L I F O R N I A 1660-1664 Commercial Way, Santa Cruz, California NORTHERN CALIFORNIA | RUDY JANDOC YOUR Technology FIRST ROUND CAPITAL • New ground floor retail entrance at the South Plaza MARKET TRENDS & PORTFOLIO UPDATE 555 • ±9,510 SF existing, additional ±2,750 SF proposed with new entrance (Demisible) CORPORATE • One block from the Montgomery Street Bart Station and off multiple Muni Bus lines HEADqUARTER San Francisco, CA Market Playbook LOCATIONS Alpharetta, GA GCS-WEST Real Intelligence MarKet street 1. FIREMAN’S FUND Atlanta, GA Luke Ogelsby Timothy C. Kazul CB Richard Ellis • Proximate to numerous well known San Francisco Restaurants 2. VISA san Francisco 3. GOOGLE Charlotte, NC THE OPERATING Senior Associate Senior Vice President Broker Lic. 00409987 4. MCKESSON 5. CHEVRON Dubuque, IA CUSTOMER Development of consistent, strategies to enable clients to tracking of deals in progress, strategies to reduce overall largest industry database of Lic. 01422599 Lic. 01335110 101 California Street • ±469,883 Daytime Population within three miles 6. PG&E 7. CISCO Wheeling, IL PRINCIPLES estate stream-lined processes and achieve occupancy cost upcoming renewals, etc. portfolio footprint and improve real estate comps and What start-up’s T 415 772 0427 T 415 772 0189 San Francisco CA 94111 Springfield, MO clearly defined roles reduction targets Ensuring clients are fully informed of occupancy efficiencies econometric forecasting [email protected] [email protected] www.cbre.com/sfdt 1 Richmond, VA THE FOCUS ON Utilization of standardized process The #1 priority for most clients is all transaction activities being It’s not enough to renew leases upon CBRE account teams regularly Somerset, NJ TEAM 4 swimlanes, playbooks and cost reduction. Once the low performed by CBRE on the account expiration. The real value-add comes leverage the firm’s vast array of 2 Golden Valley, MN stRateGY is accomplished using one of our 6 3 procedural guidelines ensures roles hanging fruit has been harvested, from mining a client’s portfolio for market intelligence, real estate data, need to know Cranberry Township, PA 7 best practice Excel-based templates. Newton, MA FULLY UTILIZING are clearly defined, tasks are then what? Enter CBRE. We know hidden value. A comprehensive econometric forecasts and local If volume is large enough to justify Roseville, MN THE PLATFORMS streamlined and operating how to dig deeper to find the less portfolio review ensures space market reports and achieve the the inherent cost, utilization of a about real estate Malvern, PA efficiencies are fully achieved. obvious routes into achieving a utilization and cost control highest level of client satisfaction. 10 esseNtIal web-based portal is recommended. Warrendale, PA 1 client’s cost reduction targets. 2 3 opportunities are fully optimized.4 5 Hadley, MA Livonia, MI elemeNts FOR Richmond, BC TO ULTIMATE ACCOUNT/ COMPANY GROWTH Lewisville, TX acHIeVING Westminster, CO Performance Broomfield, CO Measurement Carrollton, TX LEADS sUPeRIOR 5 MEETING FINANCIAL GOALS CISCO SySTEMS McKESSON South San Francisco, CA Scottsdale, AZ ResUlts

Luke Ogelsby STRENGTHENING THE CBRE/CLIENT RELATIONSHIP Best Senior Associate GLOBAL CORPORATE SERVICES - 2008 ASSET SERVICES - 2008 Lic. 01422599 ACCOUNT RESULTS NEW GCS STRUCTURE Financial Lease Practices Senior Executive T 415 772 0427 Account Employees Revenue EBITDA S/F2 Contract Expiration Employees Revenue S/F2 Analysis Administration Sharing Participation [email protected] AZFFIC 20 $2.7MM $370K 1.8MM December, 2010 Property Management

Chevron 47 $8.0MM $809K 1MM January, 2011 San Francisco Bay 120 19M 33M comprehensive financial ability to maintain critical dates, access to innovative ideas monitoring client goals client focus across cBRe’s Cisco 146 $19.8M $2.0MM 14MM 3/09(PjM), 7/09 (FM) Sacramento/ Reno 30 4.4/.8M 15M Carl Hansen RUDy JANDOC review/comparison for each pay rents & analyze portfolio data implemented for similar clients (e.g., cycle times, savings, geographic and functional Senior Associate Google 3 $1.0MM $168K 8.8MM May, 2011 TOTAL 150 24.2M 48M GLOBAL Senior Manager transaction Behind every great Transaction Our best practice library, TM Toolkit, customer satisfaction scores) leadership Lic. 01375813 McKesson 71 $8.0MM $255K 16.8MM September, 2012 CORPORATE Human Resources A key component of providing superior Manager is an able Lease PortfolioIQ and other available The regular tracking of Key Subject matter experts, senior leaders T 415 772 0252 PG&E 33 $9.0MM $1.3MM 6.8MM July, 2009 Technical Services SERVICES service delivery includes the Administrator. Understanding a proprietary tools collectively stand as a Performance Indicators (KPIs), and thought leaders engaging with our [email protected] Visa 3 $0.9M $356K 2.1MM March, 2013 San Francisco Bay 55 6.1M 25M 1 CBRE | Northern California development and utilization of a client’s portfolio starts with a base of cornerstone on which our industry- metrics and benchmarks ensures clients on a regular basis whether TOTALS 323 $49.4M $5.34M 51.3M Sacramento/ Reno 7 .9M 11M comprehensive set of financial analysis raw data. The usage of analytical tools leading platform is built. CBRE teams proper alignment of client priorities through a Strategic Evaluation Team 2175 North California Blvd tap into this toolkit as a means of (SET) meeting or via informal channels is CB Richard Ellis TOTAL 62 7M 36M tools specific to each assignment type, and reporting templates enables a and service provider performance. Suite 300 Broker Lic. 00409987 SERVICE PLATFORM capitalizing on best practices gleaned a proven means of ensuring our clients that are aligned with the client’s strategic portfolio management CBRE maintains a comprehensive list from over 300 corporate client benefit from the breadth and depth of 101 California Street FOR MORE INFORMATION PLEASE CONTACT: Walnut Creek, CA 94596 Transaction Project Facilities Lease Process Mgmt SHARED corporate finance practices. approach. of potential KPIs to choose from. Mgmt Mgmt Mgmt Admin Office Strategy PANATTONI NEW BUSINESS 2009 - ASSET SERVICES 6 7 relationships. 8 9 expertise resident within CBRE.10 San Francisco CA 94111 SERVICES T 925 296 7710 AZFFIC X X X Employees Revenue S/F2 www.cbre.com/sfdt Ben Lazzareschi Robert Jensen Laura Sagues CB Richard Ellis Sacramento/ Reno 9 >$1M 7M F 925 296 7770 Chevron X SALES STRATEGY Vice President Senior Associate Sales Assistant Broker Lic. 00409987 Cisco X X C 415 871 8463 Lic. 01414579 Lic. 01894256 Lic. 01888298 101 California Street, 44th Floor May 20, 2011 03 Google X X [email protected] select team T 415.772.0335 T 415.772.0263 T 415.772.0122 San Francisco, CA 94111 McKesson X X X X X X PG&E X X X PORTFOLIO [email protected] [email protected] [email protected] www.cbre.com/sfdt www.cbre.com Visa X X experience TOYS “R” US / MARSHALLS :: SANTA CRUZ, CALIFORNIA :: 1