Dream Hard Asset Alternatives Trust Investor Presentation: July 2014 1
Forward Looking Information This presentation may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dream or Dream Hard Asset Alternatives Trust’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward- looking information. These risks and uncertainties include, but are not limited to general and local economic and business conditions, employment levels, regulatory risks, mortgage rates and regulations, environmental risks, consumer confidence, seasonality, adverse weather conditions, reliance on key clients and personnel and competition. All forward looking information in this press release speaks as of June 30, 201 4. Dream or Dream Hard Asset Alternatives Trust does not undertake to update any such forward looking information whether as a result of new information, future events or otherwise. Additional information about these assumptions and risks and uncertainties is disclosed in filings with securities regulators filed on SEDAR (www.sedar.com). 2
Michael Cooper – CEO & Founder of Dream | Portfolio Manager of Dream Alternatives Trust Prior to starting Dream, Michael Cooper was the founder and portfolio manager of Dynamic Real Estate Fund, the first mutual fund in Canada to invest only in publicly traded real estate securities Michael recently gave up the position of CEO of Dream Office REIT, a position he had held since the founding of the business He is assuming the responsibilities of managing Dream Alternatives Trust (“DAT”) which will be a key strategic focus for Dream. 3
Dream – Who we are 4 4
Dream – Who we are 5 5
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View of Everything We Do at Dream from the Top-Down Dream Unlimited Corp. (TSX: DRM) Dream Dream Dream Dream Hard Asset Housing and Land Renewable Global REIT Industrial Office REIT Alternatives Trust Urban Power (TSX: REIT Development (TSX: D.UN) (TSX. DRA.UN) Development DRG.UN) (TSX: DIR.UN) Largest Office Largest Global One of the “Best of DREAM” Fund for REIT in Canada REIT in Canada Largest New Opportunities for Dedicated Hard Asset Investments Industrial REITs in Canada $1 4.5 Billion of Assets Under Management 7
Dream Alternatives Trust | Our Platform Dream’ s platform benefits DAT : Transaction expertise • Capital markets expertise • Track record of development & value creation • Synergies realized across broad platform • Asset management capabilities • 8
The Importance of DAT A key strategic focus for Dream is the build-out of our asset management capabilities. From the most senior levels, Dream is focused on ensuring DAT is a success and will utilize considerable resources to help existing unitholders achieve a positive outcome. 9
Dream Alternatives Trust | Our Objectives Our objectives are to : Provide an opportunity for unitholdersto invest in hard asset alternative • investments Build and maintain a growth-oriented portfolio of real estate, real estate • lending and infrastructure (including renewable power) assets Provide predictable andsustainable cash distributions to unitholderson a • tax efficient basis; and Grow and re-position the portfolio to increase the overall average rate of • return,providing the opportunity to increase the distributions to unitholders over time 1 0
Dream Alternatives Trust | The Opportunity Dream Hard Asset Alternatives Trust is the “best of Dream fund” for new opportunities DAT will have the first right to invest in any opportunities that Dream manages, requiring capital from investors: renewable power projects identified by Dream all lending identified by Dream and any development opportunities that Dream finds where it is not the developer 1 1
Dream Alternatives | the Opportunity The Trust provides Dream with the opportunity to combine all of its activities, relationships and expertise into one fund that can deliver an initial expected yield of 4.0% (on net asset) plus growth in yield and/or assets and capital appreciation. DAT can invest in: Income properties; Real estate loans; Real estate development; and Infrastructure (renewable power) …to generate income with growth 1 2
Dream – Who we are Based on low management fees and the expected re-investment of proceeds from investments, Dream believes that initial distribution yield of 4.0% (on net asset) can be sustained DAT is structured so that it has tremendous flexibility in that it does not need to comply with non-SIFT legislation or the MIC rules However, DAT has very favourable tax advantages as almost all of its distributions are return of capital. Under the structure that creates DAT, we can be very active in every investment we undertake As the non-producing assets are liquidated over time and re-invested, the Trust is expected to produce significantly higher current returns 13 13
Our Objective Once we have all of the Trust’s assets available for investment, we believe that future returns can be higher than they have ever been 14
Future Potential Returns Conceptually, we could see an attractive portfolio mix being: Real Estate Development Income Properties Development Loans 33 % 33% Traditional Loans 33% Renewable Power 1 5
Dream Alternatives Trust | Aligned Interests Dream has indicated that it will invest up to $50 million as lead order over the next three years to help DAT grow, as it wants to align its interests and also to earn higher overall returns with additional capital 1 6
Depth and Expertise of the Management Team – We Work Together to Create Value for all our Managed Entities DREAM Unlimited Corp. Michael Cooper Jane Gavan Jason Lester Pauline Alimchandani Cecilia Williams Dan Marinovic George Valentini CEO President, Asset Management; CEO SVP Urban Development CFO VP & Controller SVP Land & Housing EVP & General Counsel Dream Office; CEO Dream Global Dream Office REIT Mario Barrafato Kevin Hardy Bruce Traversy Ana Radic Sharon Mitchell Andrew Reial Paul Skeans CFO SVP, Portfolio Management COO President, Dundee Realty SVP, Portfolio Management SVP, Portfolio Management SVP Management Dream Global REIT Rene Gulliver Alexander Sannikov Gerwin Holland Cengiz Coelhan Anne Braun Michael Schwöbel Mark Goehring CFO VP, Portfolio Management SVP, Chief Investment Strategist VP, Finance & Controlling Executive Director, Asset Management Director, Leasing Associate Director, Strategic Asset & Projects Dream Industrial REIT 1 7 22 Randy Cameron John Todd Joe Iadeluca Yanick Frappier Nicholas Stryland President & CEO CFO SVP, Portfolio Management SVP, Portfolio Management VP, Eastern Industrial Leasing
Experienced and Diverse Board of Directors • President & CEO – Dream Unlimited Corp. Michael Cooper • Board Member – Dream Unlimited Corp., Dream Office REIT, Dream Global REIT, Dream Industrial REIT, Atrium Mortgage Investment Corporation • CFO – Dream Unlimited Corp Pauline Alimchandani • Vice President, Research Analyst, Real Estate & REITs - BMO Capital Markets CPA, CA, CFA • Assurance, Consulting & Deals - PricewaterhouseCoopers LLP • President - Weatons Holdings Ltd. James Eaton • Board/Trustee Member - J.C. Clark Ltd., Defyrus Inc. True Patriot Love Foundation, Canadian Art Foundation, John David and Signy Eaton Foundation • Board Member – Dream Unlimited Corp., Dream Office REIT, Excellon Resources Inc., Aimia Inc., Osisko Mining Corporation Joanne Ferstman • President & CEO – Dundee Capital Markets Inc. CPA, CA • Vice-Chair, Head of Capital Markets – Dundee Wealth Inc. • President, Asset Management – Dream Unlimited Corp. Jane Gavan • CEO – Dream Office REIT, Dream Global REIT • Board Member – Dream Unlimited Corp., Dream Office REIT, Dream Industrial REIT • Founder, President & CEO – Westcourt Capital Corporation David Kaufman • Host/Writer/Contributor – BNN “Alternative Investing”, Financial Post “Alternative Investor”, CBC “Lang & O’Leary Exchange” CAIA • Real Estate/Private Equity – Magna Golf Club, Menkes Developments, Lynx Equity • Executive Advisor – The Blackstone Group, Canada Andrew Lapham • Private Equity/Hedge Fund - Onex Partners, Odyssey Partners, John A. Levin & Co. 1 8
Dream Unlimited Dream Hard Asset Corporation Alternative ves Trust Pauline Alimchandani Kimberly Lefever Chief Financial Officer Senior Manager, Investor Relations 41 6-365-5992 41 6-365-6339 palimchandani@dream.ca klefever@dream.ca 1 9
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