Dream Hard Asset Alternatives Trust Investor Presentation (September 2014) 1
Forward Looking Information This presentation contains 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 and 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 presentation speaks as of August 31, 2014. Dream and Dream Hard Asset Alternatives Trust do not undertake to update any such forward looking information whether as a result of new information, future events or otherwise, except as required by law. 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 Dream has built its business identifying under-valued opportunities in real estate and alternative investments 4 4
Dream – Who we are Dream started as a public company in 1996 with $500,000 of equity We have generated a 46% internal rate of return over the last 11 years to today’s $1.8 billion 5 5
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Our Cumulative Activities as an Asset Manager Since 2007 Leased 20 million square feet of commercial space Completed $4.3 billion of debt financings Raised $4.0 billion of equity Completed almost $11 billion of acquisitions Completed almost $3 billion of asset sales $1.3 billion of aggregate distributions paid to our unitholders since 2003 Formation of a $1 billion hard asset alternative investments trust and we’ve done this all ourselves since 2007 in this building. 7
View of Everything We Do at Dream from the Top-Down Dream Unlimited Corp. (TSX: DRM) Asset Management Operating Businesses Dream Dream Dream Dream Hard Asset Housing and Global REIT Industrial Land Renewable Office REIT Alternatives Trust Urban Development Power (TSX: REIT Development (TSX: D.UN) (TSX. DRA.UN) 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 $14.6 Billion of Assets Under Management 8
The Importance of Dream Alternatives Trust A key strategic focus for Dream is the build-out of our asset management capabilities. After extensive due diligence Dream acquired the rights to manage and restructure four ROI Capital funds into the Dream Alternatives Trust (DAT). Dream’s platform benefits DAT: Transaction expertise • Capital markets expertise • Track record of development & value creation • Synergies realized across broad platform • Asset management capabilities • 9
Dream Alternatives Trust | “Best Of” “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 • 10
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 and sustainable cash distributions to unitholderson a tax • efficient basis; and Grow and re-position the portfolio toincrease the overall average rate of return, • providing the opportunity to increase the distributions to unitholdersover time 11
Dream Alternatives Trust | Current Assets (including commitments) Renewable Power Current Hard Assets* Investments 3% Real Estate Income Producing properties through the Properties co-owned • Development with Dream Office REIT and the Bayfield LP Investments, (equity limited partnership investments in retail real estate). 25% Income Producing Real Estate Properties Real estate loans consisting of mortgage/loan investments in • Development Income hotel, land, multi-residential, condominium, retail, retirement 23% 40% Producing Properties home and commercial assets with fixed interest rates. 38% Real Estate Loans Real Estate development through Participating mortgage and • 35% Real Estate Loans co-ownership investments in residential, mixed-use and retail 36% development projects. Renewable Power Commitments • *Including the renewable energy acquisitions and mortgage loan investments disclosed in the news release of Dream Hard Assets Alternatives Trust dated July 29, 2014. As disclosed in the news release, the renewable energy acquisitions and mortgage loan investments are subject to customary closing conditions and the foregoing allocation assumes these transactions will be completed on the timelines and in all material respects on the terms and conditions anticipated by Dream. 12
Dream Alternatives Trust | Real Estate Development Empire Communities Empire Communities Villarboit, Villarboit, Villamark Villarboit, McLeod Centre Eau Du Soleil Brampton, Ontario 221 Henry Street Markham, Ontario Niagara Falls, Ontario Toronto, Ontario Brantford, Ontario Villarboit, Villarboit, Villarboit, Villarboit, 2125 16 th Street East 890 McKeown Rd Laurentian Square Brookdale Square 13 North Bay, Ontario Owen Sound, Ontario Pembroke, Ontario Cornwall, Ontario
Dream Alternatives Trust | Land Development Projects 2 residential development projects with Empire Communities (low rise residential in Brampton and a two tower • condominium development on Lakeshore Blvd., Toronto). Empire has established a tradition of creating prestigious award winning new homes, new condos and communities in the Greater Toronto, Hamilton and Niagara regions. 7 retail development projects with VillarboitDevelopment Corporation throughout Ontario. Villarboitis a Toronto • based developer of high quality retail properties with a 25 year history. Mixed-use pre-development project in Toronto co-owned and managed by CastlepointStudio Partners. • All are in various stages of development. • 14
Dream Alternatives Trust | Select Development Deals Samples Empir pire Comm ommunit ities ies* Vill llarbo boit it Lau auren entian Squar are e Empir pire e Comm ommunit ities ies Vill llarbo boit it Vill llamark* (11, 11,166 66 Mc McLau Laughlin in Road Road) Pembr broke* e* (Eau au Du Soleil) oleil)* Description Five acre, 65,000 Description 96 acre site is Description 440,000 square feet of Description 1,258 unit, two tower square foot retail GLA, 32 acre site. currently being condominium development developed primarily development (63 and 100% leased with as a low-rise 49 floors respectively). three national tenants: residential Winners, Michaels development with 686 and SportChek. Location Corner of Highway 48 units. Location The fully zoned and Major Mackenzie waterfront Location Located in the north Drive East, Markham, development is Location Immediately south of quadrant of Brampton Ontario. located at Lakeshore in close proximity to the city of Pembroke Boulevard West and Highway 410. Parklawn Road Stage The multi-phase Stage Zoning is substantially development is Stage Winners and Michaels Stage Empire is actively complete with ongoing actively selling have occupied their selling the leasing discussions residential homes with premises. SportChek condominium units with numerous mid- construction having is expected to occupy with construction box anchors started in April 2014 its premises in the fall anticipated to and the first home of 2014. commence in early deliveries expected in 2015. October 2014. 15 *As at June, 30, 2014
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