St. Louis Lambert g 0 . l o 0 a m + i t n - 0 - PowerPoint PPT Presentation

v 0 o 0 St. Louis Lambert g 0 . l o 0 a m + i t n - 0 International Airport s e 4 i d u : i 9 o f n 1 l t o : s 5 C @ 1 m 6 — Introduction to PSP Investments, AviAlliance, 1 n - i 1 v Merrick and USAA Real Estate r 0 a - g 0 2 0 2 November 2019 Private & Confidential MCM

Introduction ─ Who We Are v 0 Canadian pension fund investing on behalf of the military, federal employees and o 0 the Royal Canadian Mounted Police g 0 . AAA-rated with C$168 billion of AuM l o 0 a m + i t n - 0 s Founded in 1997, AviAlliance is one of the pioneers of airport privatization, in 3 of our 5 airports we partner e 4 i with city and federal governments as major co-shareholders d u : i 9 o f AviAlliance manages ownership stakes in Athens, Budapest, Dusseldorf, Hamburg and San Juan airports n 1 l t o : s 5 C @ USAA Real Estate is a wholly- owned subsidiary of USAA, one of America’s leading financial services 1 providers to members of the U.S. military community m 6 1 ~53,000 USAA members live in the City of St. Louis, ~89,000 members live in the County of St. Louis n - and >500,000 members live in the State of Missouri i 1 v r 0 a - g 0 Merrick Capital Management is a Minority and Women-Owned Business Enterprise (MWBE) investment 2 MCM management platform focused on infrastructure investing in the U.S. 0 2 Our Investment Philosophy: Partner. Invest. Build. Grow. 1

We are listening ─ Build strong partnerships with all stakeholders in the St. Louis Region to build a win-win #MadeInSTL plan v 0 o STL’s Ongoing Vision 0 Lambert P3 Concerns g 0 . l o 0 a m + A Place to Visit i t n - @RACStLouis 0 A Growing & s e 4 “11.7+ million attendees …go i Inclusive Community d u : to arts and culture events in i 9 o @STLRegChamber f #STL annually. Many are n 1 l t visitors and need hotels & “We’re thrilled to have o : s 5 restaurants, driving revenue, @vp1300 representing C @ 1 stimulating our #economy, @stldiversity tonight and bringing positive @VentureCafeSTL. m 6 attention to the area. These leaders represent 1 #ArtsMO ” n some of the great work - i happening to make #STL 1 v a more diverse and r 0 inclusive region.” a An Innovation Hub - g 0 @LydaKrewson 2 “#STL continues to grow as an innovation hub with the first - 0 ever @STLStartupWeek !…” 2 We will continue to listen attentively and will address these considerations in our proposal 2

Our Commitment Position STL-Lambert as the keystone for a vibrant, diverse and growing St. Louis Region 3 We will invest in STL-Lambert, v 0 We are long-term investors. We will 1 o improve facilities, support small- 0 build strong partnerships with local g businesses and MWBEs, and 0 . communities and local businesses l o develop real estate 0 a m + i t We will invest in people - To 4 n - We will partner with airlines to 0 support a growing and improved 2 s e 4 grow passenger traffic and i STL-Lambert we will invest to create d u : enhance connectivity for local i 9 more jobs, as well as continually o f n residents and businesses 1 l invest in training/skills of airport t o : s employees. 5 C @ 1 m 6 1 n - i 1 v r 0 a - g 0 2 0 2 Foundation of our Approach Build strong partnerships with all stakeholders in the St. Louis Region to build a win-win #MadeInSTL plan 3

Organized to Deliver Value Principal Focus v Airport Real Estate Stakeholder 0 Design & Commercial o Areas 0 g Operations Development Integration Construction Planning 0 . l o 0 a m + i t ✓ ✓ ✓ ✓ ✓ n - 0 s e 4 i d u : i 9 o f n 1 l t ✓ o ✓ ✓ : ✓ s 5 C @ 1 m 6 1 n ✓ ✓ ✓ ✓ - i 1 v r 0 a - g 0 Other 2 0 Complementary We will add local partners (advisors, commercial, equity, etc.) 2 Partners 4

Our Track Record 2014-2018 Athens, Budapest, Dusseldorf and Hamburg Airports* v 0 Routes o 503 643 0 g +28% 0 . l o 0 a m + i t n - 0 s e 4 i d u : 61 Passengers 80 i 9 o f n 1 l million +32% million t o : s 5 C @ 1 m 6 1 n - Direct Employees* i 1 v 5,764 6,324 r 0 +10% a - g 0 2 0 2 $1 billion capex spent Developed 4.1 million over 5 years sq. ft. of real estate 5 *Excludes San Juan Airport given more recent 2017 investment. **Excludes indirect jobs + third-party services

What do we Deliver? Hurricane Restoration at San Juan Airport In addition to strategic initiatives set out at acquisition, AviAlliance led the Hurricane Restoration including managing construction contracts and v 0 o insurance claims 0 g 0 . l o 0 a m + i t n - SkyCourt at Budapest Airport 0 s e 4 i 65,000 sq. ft. passenger hall with over 50 shops, bars and restaurants d u : i 9 o f n 1 l t o : s 5 C @ 1 m 6 Business Park at Dusseldorf Airport 1 n - i Real estate development on approx. 2.5 million sq. ft. of land 1 v r 0 a - g 0 2 0 Route Development at Athens Airport 2 Partnership with the Greek Tourism Board, Athens City and Aegean Airlines for regional promotion driving 59% passenger growth over the past 5 years 6

Our Real Estate Experience ▪ Over $9 billion of projects developed in the last 10 years v 0 o ▪ 0 3 industrial warehouse distribution centers in St. Louis g 0 including one adjacent to the airport . l o 0 a m ▪ + 20 Schnucks-anchored retail centers in the St. Louis MSA i t n - 0 s e 4 i d u : i 9 o ▪ f Real estate investment manager with experience in investing n 1 l t on behalf of institutional investors in retail, residential and office o : s 5 C @ real estate in the U.S. 1 MCM ▪ m Long-term relationship with USAA Real Estate 6 1 n - i 1 v r 0 a ▪ - Over C$23 billion of real estate assets, over 40% invested in g 0 the U.S. in office, industrial, mixed-use, retail and residential 2 0 ▪ Partnered with USAA Real Estate since 2015 focusing on 2 industrial real estate opportunities 7

Community Partnership v 0 Events and initiatives our airports organize on a recurring basis: o 0 ▪ Cultural days promoting local tourism g 0 ▪ Local youth start-up and small business innovation events . l o 0 ▪ a Youth employability program offering 100+ internships m + i t n - 0 s e 4 i d u : i 9 o f n 1 l t Dedicated CSR program with a national focus on the military community, and o : s 5 a local focus on poverty alleviation C @ 1 ▪ $2 million pledge to fight veteran homelessness in San Antonio m 6 1 n - i 1 v r Developing Minority Communities: 0 a ▪ - MCM principals have achieved >50% MWBE contracting and labor g 0 participation in the markets that they have invested in 2 0 MCM Founding a Commercial Real Estate Education Program: 2 ▪ Founded the first national CRE high school education program for students of color (benefiting 1,500 students in 5 years) 8

Our Areas of Immediate Focus Partner with the community v 0 o 0 g 0 . Invest in the workforce l o 0 a m + i t n - 0 s e 4 i d u Spend to improve facilities : i 9 o f n 1 l t o : s 5 C @ 1 Enhance the commercial offering m 6 1 n - i 1 v Collaborate with the airlines to expand routes r 0 a - g 0 2 0 Work with local tourism boards and small businesses 2 Real estate development 9

Thank you g a 2 r 0 C v 2 i n o 0 m n - 0 f @ i d 1 e - s 1 n t 6 l t o i a 1 u l i 5 s : - 1 m 9 o : 4 . g 0 o + v 0 0 0 0