2021 - 2022 Disclosure Guide This publication contains information that indicates resorts participating in, and explains the terms, conditions, and use of, The Registry Collection Exchange Program operated by RCI, LLC. You are urged to read it carefully. 0490-2021 RCI, TRC 2021-2022 Annual Disclosure Guide Covers.indd 29 5/21/21 9:21 AM DISCLOSURE GUIDE TO Elizabeth Dreyer ® Senior Vice President, Chief Accounting Officer, and THE REGISTRY COLLECTION EXCHANGE Manager PROGRAM 6277 Sea Harbor Drive, Orlando, FL 32821 This Disclosure Guide to The Registry Collection Julia A. Frey Exchange Program (“Disclosure Guide”) explains The Assistant Secretary Registry Collection Exchange Program offered to 6277 Sea Harbor Drive, Orlando, FL 32821 purchasers of Vacation Ownership by RCI, LLC (“ ”). RCI Purchasers of Vacation Ownership should carefully Brian Gray review this information to ensure full understanding of Vice President the terms, conditions, operation and use of the Collection. 6277 Sea Harbor Drive, Orlando, FL 32821 Note: Unless otherwise stated herein, capitalized terms in this Disclosure Guide have the same meaning as those in Gary Green The Registry Collection Exchange Program Terms and Senior Vice President Conditions (“Terms and Conditions”), which are made a 6277 Sea Harbor Drive, Orlando, FL 32821 part of this document. Joseph M. Hollingshead RCI, LLC is the operator of The Registry Collection Senior Vice President and Treasurer Exchange Program. No government agency has 6277 Sea Harbor Drive, Orlando, FL 32821 approved the merits of this exchange program. Stacey Jagielski RCI is a Delaware limited liability company with its Assistant Secretary principal offices located at: 6277 Sea Harbor Drive, Orlando, FL 32821 6277 Sea Harbor Drive Stanley Kreydin Orlando, FL 32821 Senior Vice President 6277 Sea Harbor Drive, Orlando, FL 32821 Exchanges through The Registry Collection Exchange Program are processed at: Ryan Morettini Group Vice President 9998 North Michigan Road 6277 Sea Harbor Drive, Orlando, FL 32821 Carmel, IN 46032 Terry D. Motsenbocker RCI is a subsidiary of Travel + Leisure Co., a Delaware Senior Vice President corporation. 9998 North Michigan Road, Carmel, IN 46032 Officers Tammy Peter Senior Vice President Sherri Avara 6277 Sea Harbor Drive, Orlando, FL 32821 Vice President 6277 Sea Harbor Drive, Orlando, FL 32821 Richard G. Ruff Senior Vice President Sandy Bowman 9998 North Michigan Road, Carmel, IN 46032 Vice President 6277 Sea Harbor Drive, Orlando, FL 32821 Frank Sassano Vice President and Assistant Treasurer Kenneth Erik Brandt 14 Sylvan Way, Parsippany, NJ 07054 Vice President 6277 Sea Harbor Drive, Orlando, FL 32821 Amy Sinelli Senior Vice President, Manager, and Secretary Olivier Chavy 6277 Sea Harbor Drive, Orlando, FL 32821 President 6277 Sea Harbor Drive, Orlando, FL 32821 Ciara E. Sisk Senior Vice President Christopher Delaney 14 Sylvan Way, Parsippany, NJ 07054 Vice President 6277 Sea Harbor Drive, Orlando, FL 32821 Michael J. Toscano Senior Vice President, Chief Financial Officer, and Fiona G. Downing Manager Senior Vice President 14 Sylvan Way, Parsippany, NJ 07054 14 Sylvan Way, Parsippany, NJ 07054 T1 RCI provides the Collection and other related services The deposit of Vacation Time and availability of Credits to and benefits to Members. Travel + Leisure Co. (“Travel a Member does not relieve a Member’s obligation to pay + Leisure”) is the parent corporation of RCI and maintenance fee assessments, taxes or other similar Fairfield Resort Management Services, Inc. (“FRMS”), charges imposed by any applicable local, state or federal a resort management company, Wyndham Vacation governmental entity (or its equivalent if the Property is Resorts, Inc. (“WVR”), Wyndham Resort located in a foreign country) or imposed by a Property or Development Corporation doing business as provider of accommodations and/or other services. WorldMark by Wyndham (“WRDC”), and Equivest Member privileges may be suspended or denied, Finance, Inc. (“Equivest”), and their respective among other reasons, if a Member’s Vacation subsidiaries. Some officers and/or directors of Travel Ownership Expenses or other charges have not been + Leisure may from time to time serve as officers paid when due or if the deposited Vacation Time is and/or directors of RCI, FRMS, WVR, WRDC, and/or returned to the Property or Member for any reason. Equivest, and vice versa. FRMS, WVR, WRDC, and/or Special charges, user fees or government taxes may Equivest Properties are marked with a plus symbol be charged to a Member or Guest by a Property at “+”, if applicable, in the Property List, and Members which that Member or Guest has obtained a List both of which are attached hereto. Certain Reservation and it is the Member’s or Guest’s officers and directors of RCI may own, or have rights obligation, not RCI’s, to pay those charges, fees or to acquire, shares of stock in Travel + Leisure. Other taxes regardless of whether such charges, fees or than as stated in this paragraph, neither RCI nor any taxes are levied by the Property at which the Member of its officers or directors has any legal or beneficial owns Vacation Time. In addition, RCI reserves the right interest in any developer, seller, managing entity or to apply amounts remitted to RCI to first cover any unpaid Vacation Ownership plan participating in The Reservation, Guest Certificate(s), cancellation fee(s) or Registry Collection Exchange Program. RCI is an any other amounts owing and due to RCI. Such independent exchange service company and is not application does not relieve the Member from the owned, operated or controlled by any property, developer, obligation to pay those fees or any other outstanding seller, managing entity or Vacation Ownership plan amounts due RCI. participating in the Collection. The Collection Member Agreement between the Member Because vacation exchange is used intermittently as an and RCI is a separate and distinct contract from any adjunct to Vacation Ownership, potential Members should agreement that a Member may have entered into with the select a property that best meets their ongoing vacation developer or seller of the Property, including any needs. A Member’s decision to purchase Vacation agreement with the developer or seller to purchase Ownership should be based primarily upon the Vacation Ownership, or to occupy or use Vacation Time, benefits to be gained from the ownership, use and or other property, or benefits, or packages. Membership enjoyment of the property and not upon the provides an opportunity to obtain Reservations pursuant anticipated benefits of the Collection. The property at to the Collection and does not provide a guarantee of use which a Member purchases Vacation Ownership is of Vacation Time at a specific resort or for specific travel solely responsible for its financial viability and the dates. quality of its accommodations, facilities, amenities, management and services. RCI reserves the right to offer additional benefits to Members in exchange for Deposits or other PARTICIPATION IN THE COLLECTION. Participation in compensation. Such additional benefits, which may be the Collection is voluntary. The rights and terms of such identified from time to time by RCI, include, but are not membership may vary among Members and RCI may limited to, cruises or other accommodations, products or waive certain requirements, in its sole discretion. services. Additional benefits may periodically change in Membership in the Collection may be offered for varying RCI’s sole discretion. In addition, RCI does not guarantee lengths of time. RCI, in its sole discretion, may permit that any specific additional benefit will be available to certain RCI Subscribing Members who own at Signature Members, or, if made available, will remain available for Selections Resorts to participate in the Collection as any period of time. Signature Selection Members subject to the Terms and Conditions as well as the terms and conditions of their COLLECTION PROCEDURES AND OBLIGATIONS. primary exchange program. The terms and conditions of a Member’s contractual relationship with the Collection and the procedures for The Collection utilizes a “deposit” and “withdrawal” utilizing the Collection are contained in the Terms and system. The Member must first deposit the Vacation Time Conditions. THIS DISCLOSURE GUIDE AND THE available for exchange in return for Credits, in order to COLLECTION DOCUMENTS, INCLUDING THE TERMS make a withdrawal. When a Deposit is made, the Member AND CONDITIONS, ARE SUBJECT TO CHANGE BY retains title to his/her Vacation Ownership, however, the RCI, IN ITS SOLE DISCRETION, WITHOUT ADVANCE Member relinquishes to RCI all use rights in his/her NOTICE, INCLUDING, BUT NOT LIMITED TO, TERMS Vacation Time. RELATING TO CHANGES IN FEES, BENEFITS AND RESERVATION PROCEDURES AND PRIORITIES IN T2 ACCORDANCE WITH THE NOTICE PROVISION OF 2701 or greater: $340 USD THE TERMS AND CONDITIONS. (f) Renting Credits: $7 USD per Credit MEMBER AND TRANSACTION FEES. (g) Reactivation of Membership: $450 USD A. Annual Member Dues. Annual Member Dues are payable to the Collection each year. The Annual (h) Member Transfer Application fee: Member Dues as of June 1, 2021 are: $100 USD (i) $275 USD for Collection Members (i) Guest Certificate: $89 USD (ii) $275 USD for Signature Selections (j) Close Date Deposit Fee: $295 USD Members (k) Credit Protection Fee: $89 USD B. Transaction Fees. Each time a Member makes a Transaction, a Transaction fee will be charged. (l) Account Statement Fee: $25 USD The Transaction fees as of June 1, 2021 are: The above fees may vary for Corporate Participants or other programs offered by or through RCI. Transaction (i) Collection Property Reservations (7-night fees are established by RCI and may change from time to increments only): time, in its sole discretion, without advance notice from $295 USD RCI. RCI, in its sole discretion, may charge Members in their local currency and may further require payment in (ii) Signature Selections Resort Reservations such local currency. Fees may vary from time to time due for Collection Members (not available to to the inclusion of any applicable government fees or Signature Selections Members): taxes.