PROJECT UPDATES OCTOBER 2015 DECEMBER 2015 NOVEMBER 2015 JANUARY 2016 ISSUE 12

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1 JANUARY 2016 ISSUE 12 PROJECT UPDATES W I N T E R O F With more than 50 active projects and over 24 development partners, it s been a busy three months since our last project update. Here is a summary of the most recent developments. OCTOBER 2015 There were some very notable achievements in the final quarter of the year by Fortress Real Developments and our partners. In October, Cityzen Developments, Fernbrook Homes and Fortress opened a brand-new sales centre for our luxury mid-rise development Brookdale on Avenue Road in Toronto. The tower crane for Ten88 by Empire Communities and Pace Developments arrived on-site in Scarborough, as excavation on the underground parking is now complete. An official groundbreaking ceremony commemorated the start of construction at Capital Pointe in Regina. The first buyers moved into King Charlotte by Lamb Development Corporation in downtown Toronto, as occupancy commenced on this 32-storey condominium project. Pace Developments finished the site clearing at Eden in King City, and full site servicing started. NOVEMBER 2015 Dunsire released new two-storey single-detached house plans at White Cedar Estates in Guelph with great success. ADI Developments released the first rendering of the urban towns at Station West in Aldershot, also revealing that Union 31 and Baker Real Estate had joined the project team. A rezoning application was submitted by Carlyle Communities and Berkley Homes at Peter Richmond for a 46-storey tower. Fortress Collier Centre Ltd. acquired the stalled mixed-use Collier Centre project in downtown Barrie, immediately restarting construction with industry stalwart EllisDon. ADI Developments officially started earthworks at Link Condos + Towns in Burlington, following the demolition of the presentation centre. Renovation of the existing properties at the Port Place site got underway in November in St. Catharines. DECEMBER 2015 Asphalt was put down at Kingridge Square in Oakville by Kingridge Developments where construction is moving rapidly. The sold-out and occupied Mod rn boutique condominium by ADI in Burlington registered in early December. Tree House by Engine Developments and Symmetry Developments surpassed 65% sold. Brant Park by Lamb Development Corporation surpassed 80% sold; almost all exterior construction is finished and first occupancies take place in early 2016.

2 PAGE 2 JANUARY 2016 PROJECT UPDATES ADI AMADON GROUP LINK CONDOS + TOWNS (THE SUTTON) MID-RISE CONDO / BURLINGTON, ON / 298 UNITS Demolition began at the LINK in the late fall and full construction is to follow right after with a timeline of about 24 months. The project, which was sold in two phases, is over 75% sold out. VICTORIA MEDICAL ARTS MID-RISE CONDO / VICTORIA, BC / 72 UNITS The city is very pleased with the developer s urban village approach and has provided clear guidelines for the draft plan process. Applications will be submitted in the first quarter of Applications will be submitted in the first quarter of 2016 AVERTON HOMES The LINK is now under construction STATION WEST (MASONRY) LOW-RISE TOWNHOUSES / BURLINGTON, ON / 500 UNITS The marketing campaign for Station West in Burlington is underway. ADI has retained Baker Real Estate to handle the sales for this project, which will be released in the spring of PIVOT (RUTHERFORD) LOW-RISE TOWNHOUSES / EDMONTON, AB / 138 UNITS The development permit is currently being finalized with the municipality as the remaining conditions are being processed. Averton is working on completing the plans for a model block to showcase the product, and have successfully extended their commitment with Scotiabank to provide financing for the block. Development permit is currently being finalized Sales to begin for Station West in the Spring of 2016

3 PROJECT UPDATES JANUARY 2016 PAGE 3 PRESCOTT AVERTON HOMES CONTINUED LOW-RISE SINGLE FAMILY / EDMONTON, AB / 32 UNITS At Prescott, homes that have been sold have begun construction. Averton Homes is gearing up its marketing campaign for the remaining homes and is confident in the resilience of the Edmonton market. CASTLEMORE CACHET LOW-RISE SINGLE FAMILY / BRAMPTON, ON / 258 UNITS Cachet Group has been actively working with the municipality and the landowners group on the Block Plan for the area. The developer is also preparing detailed engineering reports for the upcoming subdivision applications in Castlemore remains in the planning phase Only a few homes remaining at Prescott HARRIS BEECH BEST HOMES LOW-RISE SINGLE FAMILY / RICHMOND HILL, ON / 24 UNITS Based on the feedback from the city, Best Homes is working on achieving approvals for the Draft Plan of the subdivision, which is anticipated for the spring of CRESTVIEW COMMONS CARLYLE COMMUNITIES LOW-RISE TOWNHOUSES / MISSISSAUGA, ON / 23 UNITS Carlyle Communities is continuing to work on finalizing approvals with the city. Sales are planned for the spring/summer of 2016, and servicing construction is anticipated to start later in the year, once approvals are finalized. Construction to begin in 2016 Draft plan approvals are antipcated for Spring of 2016

4 PAGE 4 JANUARY 2016 PROJECT UPDATES PETER RICHMOND LAND ASSEMBLY HIGH-RISE CONDO / TORONTO, ON / 430 UNITS CARLYLE COMMUNITIES CONTINUED In November, a rezoning application was submitted for Peter Richmond. Developers Carlyle and Berkley, in conjunction with Architects Alliance, envision a 46-storey tower with 435 units. The MBTW Group has been brought on to program the landscape design, and Hunter & Associates is the planning consultant. CHESTNUT HILL LOTUS (RESIDENCES OF BAYVIEW) MID-RISE CONDO / TORONTO, ON / 234 UNITS Now fully approved, Chestnut Hill Homes has launched their full website for Lotus, and is offering a 5% down payment option as a limited-time offer for purchasers. In December, building permit applications were submitted to the City of Toronto for demolition of the on-site structures, as well as permits for drain and site service, mechanical and plumbing. Construction is expected to begin in the spring/summer of Rezoning application has been submitted Lotus now fully approved, building permits submitted CATALINA CATALINA CITY CORE GLENS OF HALTON HILLS LOW-RISE SINGLE FAMILY / GEORGETOWN, ON / 141 UNITS The developer remains in final discussions with the municipality to finalize approvals for this project. The consultant and legal teams have worked diligently to satisfy all municipal requirements. HARMONY VILLAGE LAKE SIMCOE MIXED USE / BARRIE, ON / TBA UNITS The development team is finalizing the engineering cost analysis for the project, with the target of the planning application being presented to the City in the spring/summer of Final discussions have begun for approvals Planning application being pressented Spring of 2016

5 PROJECT UPDATES JANUARY 2016 PAGE 5 HARMONY VILLAGE SHEPPARD HIGH-RISE CONDO / TORONTO, ON / 823 UNITS CITY CORE CONTINUED Geotechnical drilling is ongoing on-site as well as a final sales push for the project. With over 65% sales, full construction is expected to be underway this summer. CITYZEN & FERNBROOK HOMES BROOKDALE ON AVENUE ROAD MID-RISE CONDO / TORONTO, ON / 82 UNITS The development team brought on a new architect for this project and has redesigned some of the remaining units in this boutique mid-rise building. With the project over 60% sold, submissions have been made for demolition permits. Demolition is expected early in Harmony Village Sheppard is now over 65% sold CITYZEN Demolition expected in Q1 of 2016 CHARLOTTE ADELAIDE TOWER HIGH-RISE CONDO / TORONTO, ON / 215 UNITS Cityzen continues to work on the design of the development prior to submitting a new rezoning application. Consideration is being given to the unit mix and a small office component. OLD MARKET LANE MID-RISE CONDO / VAUGHAN, ON / 146 UNITS The development team is working with the City on finalizing the Zoning approvals for the project, which is anticipated for early The team is also preparing for the marketing launch and opening of the sales office by summer The development team is evaluating the unit mix for this project Marketing & sales launch scheduled for Summer 2016

6 PAGE 6 JANUARY 2016 PROJECT UPDATES ESTATES OF NOBLETON CITYZEN & TERCOT LOW-RISE SINGLE FAMILY / NOBLETON, ON / 150 UNITS The Estates of Nobleton development continues to progress towards land-use approvals, as the developer is actively working with government authorities. DUNSIRE INCORPORATED DUNSIRE THE ANCHORS AT LAKEVIEW (MISSISSAUGA MEADOWS 1 & 2) / 62 UNITS MM1: LOW-RISE STACKED-TOWNHOUSES / MISSISSAUGA, ON / 25 UNITS MM2: LOW-RISE STACKED TOWNHOUSES / MISSISSAUGA, ON In November 2015, Dunsire achieved a major hurdle and finalized their zoning approvals for the project. The project is over 75% sold and has obtained construction financing. Construction is scheduled to begin in early Anchors is now over 75% sold with construction financing The project continues to work towards approvals NOBLETON SOUTH LOW-RISE SINGLE FAMILY / NOBLETON, ON / 150 UNITS The Nobleton South development continues to be engaged with the landowners group in proceeding with planning and engineering arrangements for the benefit of the group. WHITE CEDAR ESTATES LOW-RISE SINGLE-FAMILY / GUELPH, ON / 25 UNITS In December, Dunsire rolled out a collection of two-storey house plans at White Cedar Estates based on customer feedback. The result was a resounding success, as the 2,500 to 3,200 sf homes were snapped up quickly, and there are now only five lots left to sell. New collection of 2-storey house plans were a success Nobleton South continues to progress to approvals

7 PROJECT UPDATES JANUARY 2016 PAGE 7 EMPIRE COMMUNITIES & PACE EMPIRE COMMUNITIES AND PACE CONTINUED VILLAGIO (MAPLEVIEW COMMONS) CURRENTLY PRE-DEVELOPMENT LOW-RISE TOWNHOUSES / VAUGHAN, ON / 25 UNITS With the developer pivoting the project to a townhouse development to achieve greater efficiency, the next steps will be to commence the planning approvals process over the spring of The sales launch for the project is also anticipated to commence at this time. THE MARK CONDOMINIUMS (WISMER 3) HIGH-RISE CONDO / MARKHAM, ON / 220 UNITS Construction is ongoing at The Mark condominium. With 100% of the units sold, excavation and shoring will be complete in the spring followed by vertical construction. Villagio reclalibrating as a Townhouse project FLATO INC. Construction ongoing at the Mark TEN88 (PROGRESS MANORS) LOW-RISE STACKED TOWNHOUSES / TORONTO, ON / 201 UNITS ALLOA GREENS (MAYFIELD 2 & 3) / 184 UNITS LOW-RISE SINGLE FAMILY + TOWNHOUSES / BRAMPTON, ON The first phase of Alloa Greens by Flato Developments is completely sold out, and over 50% of the 45 homes in the second phase have sold. Construction of the townhomes is now at grade. This highdemand project is over 75% sold and occupancy for the towns is expected to begin in spring/summer First phase of Alloa is now completely sold out Ten88 is now over 75% sold

8 PAGE 8 JANUARY 2016 PROJECT UPDATES BROCK VILLAGE MIXED USE / PICKERING, ON / 42 UNITS FORTRESS REAL PORT PLACE FORTRESS REAL CONTINUED MIXED USE / ST. CATHARINES, ON / 130 UNITS Fortress has engaged a cost consultant to review and provide a detailed report on the latest design drawings completed by Kirkor Architects. Fortress has meetings planned for early 2016 with the city and community groups to discuss the new changes being proposed. A pre-consultation meeting with the City of Pickering took place in December for phase 2 of the project, and the cost-sharing agreement is being finalized with the neighbouring developer. LiVante Developments is preparing a construction timeline, which is expected to commence early A cost consultant is reviewing the latest design drawings Construction to commence in early 2016 CAPITAL POINTE MIXED USE / REGINA, SK / 320 UNITS With the hoarding for the site fully installed, below-grade construction is taking place on this project, with ITC Construction as the management team responsible for the excavation and shoring. The sales centre for the project remains open across the street to capture the great momentum of the project. SKYCITY CENTRE WINNIPEG (LIVEWORKPLAY WINNIPEG) MIXED USE / WINNIPEG, MB / 382 UNITS Progress continues on all fronts at the SkyCity Winnipeg project. With over 130 residential sales and a spring marketing program in place, focus is shifting to the office and retail components of this mixed-use development. Commercial leasing and sales will commence in the new year while the development team continues to work towards obtaining their first permits for the project allowing construction to commence in Hoarding installed and excavation continues at Capital Pointe COLLIER CENTRE & LAKEVIEW CONDOMINIUMS MIXED USE / BARRIE, ON / 82 UNITS EllisDon has been actively installing the window systems for the commercial tower and organizing contractors for the next steps of the construction schedule. Fortress will be working with CBRE on the leasing program for the remaining office and retail space. Rooftop terrace at SkyCity Winnipeg THE SOUTH SHORE (CRATES LANDING) MIXED USE / KESWICK, ON / 154 UNITS All bidding for the construction contract for this project was accepted in the fall of A builder will be announced in the spring of 2016 to complete the two buildings of this waterfront master-planned community. Window installation at Collier Centre A builder will be announced in Spring 2016

9 PROJECT UPDATES JANUARY 2016 PAGE 9 FUSION HOMES GLOBAL LINK REALTY GROUP INC. SOLTERRA LOW-RISE SINGLE FAMILY / GUELPH, ON / 275 UNITS Fusion Homes will be releasing the remaining homes in stages over the spring and summer for this low-rise residential project. The housing market in south Guelph has seen excellent traction and pricing has warranted an increase to capture this demand. KING SQUARE COMMERCIAL / MARKHAM, ON Construction over the winter months is progressing well as the steel framing has reached three floors for this retail/ commercial development. A new release of homes is coming in the first half of 2016 Construction continues to progress at King Square. GEORGIAN INTERNATIONAL LAND CORP GEORGIAN INTERNATIONAL LC KINGRIDGE DEVELOPMENT CORP. BRAESTONE LOW-RISE SINGLE FAMILY / ORO MEDONTE, ON / 229 UNITS Braestone has 40 homes sold in Phase 1A where the road works and utility infrastructure are 95% complete. The project will be releasing the Phase 1B lots (37 homes) in early February. The water treatment plant has now been constructed and will support the entire project of 229 estate homes. KINGRIDGE SQUARE (SPEERS COMMERCIAL) COMMERCIAL / OAKVILLE, ON Servicing and construction are currently underway for this commercial development with completion still on target for This project is over 70% sold. Braestone now has over 40 homes sold from Phase 1A Servicing and construction continues at Kingridge Square

10 PAGE 10 JANUARY 2016 PROJECT UPDATES KINGRIDGE DEVELOPMENT CORP. CONTINUED LAMB DEVELOPMENT CORPORATION CONTINUED BRONTE CROSSING COMMERCIAL / OAKVILLE, ON The developer is working with their consultant team on the site plan application being submitted to the Town of Oakville. Kingridge has received a lot of interest by both retail and office tenants for this well-located site at QEW highway and Bronte road. EAST FIFTY FIVE HIGH-RISE CONDO / TORONTO, ON / 277 UNITS Lamb Development and Hyde Park Homes continue to work through the approvals process with help from Aird & Berlis LLP, the lawyers on file. The project is over 60% sold. The development team continues work on the site plan submission Model suite at East Fifty Five 6 TH AND TENTH LAMB DEVELOPMENT CORP. HIGH-RISE CONDO / CALGARY, AB / 230 UNITS GOTHAM CURRENTLY OCCUPIED HIGH-RISE CONDO / OTTAWA, ON / 250 UNITS Gotham is in the process of being registered; this is anticipated to occur in the first quarter of Lamb has four furnished model suites to view, and is selling and leasing the remaining units. Construction on 6th and Tenth has reached grade level, and occupancy is scheduled for Gotham is now fully occupied Construction continues at 6th and Tenth BRANT PARK HIGH-RISE CONDO / TORONTO, ON / 243 UNITS Brant Park is now over 80% sold. The hording around the project has come down, all stucco has been applied, all windows are in and the concrete sidewalks are installed. Pre-delivery inspections for purchasers have commenced, with occupancy scheduled to start in the first quarter of JASPER HOUSE HIGH-RISE CONDO / EDMONTON, AB / 260 UNITS Lamb is offering a new incentive to increase interest in the development by unit investors. This new plan was rolled out in November. Sales have slowed down due to market conditions, and this is being monitored by the developer. Brant Park now over 80% sold A new sales incentive was released in November

11 PROJECT UPDATES JANUARY 2016 PAGE 11 LAMB DEVELOPMENT CORPORATION CONTINUED LAMB DEVELOPMENT CORPORATION CONTINUED KING CHARLOTTE CURRENTLY OCCUPIED HIGH-RISE CONDO / TORONTO, ON / 232 UNITS King Charlotte is occupied and 98% sold. Registration is expected in the first quarter of THE HARLOWE HIGH-RISE CONDO / TORONTO, ON / 210 UNITS The Harlowe is now over 80% sold and preparing for construction to commence in the first quarter of Harlowe now over 80% sold King Charlotte now 98% occupied NORTH HIGH-RISE CONDO / EDMONTON, AB / 350 UNITS Lamb Development continues to work through approvals at North but is now holding back release of the units due to the current state of the market. THE ORCHARD HIGH-RISE CONDO / CALGARY, AB / 485 UNITS Sales at The Orchard continue and the sales office remains open six days a week. Once a sales target is reached for the first tower, construction on that phase will begin. Sales continue at The Orchard North is currently in the development phase LIVANTE SOBA HIGH-RISE CONDO / OTTAWA, ON / 240 UNITS Construction continues at SoBa, with the first task of completing the concrete slurry wall. Doran Construction has a ton of heavy machinery on-site to get started on excavation. TOWNS ON HALL LOW-RISE TOWNHOUSES / RICHMOND HILL, ON / 22 UNITS LiVante Developments has received feedback from residents and the City departments regarding minor design changes. Barring any major opposition, this plan will be brought forward this spring for a recommendation to City Council. Construction continues at Soba A revised plan will be submitted this spring

12 PAGE 12 JANUARY 2016 PROJECT UPDATES PACE SIERRA BUILDING GROUP EDEN (KING CITY) CURRENTLY UNDER CONTRUCTION LOW-RISE SINGLE FAMILY / KING CITY, ON / 28 UNITS Servicing and construction have begun for this project. The project has just one home remaining to sell and occupancy on these homes will begin in THE GREENWOOD MID-RISE CONDO/ TORONTO, ON / 104 UNITS Sierra continues to work on obtaining approvals, which are anticipated in This mid-rise project is designed to fit within the City of Toronto guidelines and has received positive feedback from initial public meetings. Site servicing at King City Positive feedback received at initial public meetings WHITBY COMMERCIAL COMMERCIAL / WHITBY, ON ROSEWATER MANAGEMENT GROUP LTD WOODBRIDGE PARK (KIPLING COURT) LOW-RISE TOWNHOUSES / VAUGHAN, ON / 256 UNITS In December 2015, Sierra received council support on their development applications. The developer has put the property for sale on the market to assess an interest for sale, however, will continue to push forward with the build out of the project. The developer is currently negotiating detailed cost-sharing agreements within the land owners group for south Brooklin. Rosewater is working with the Town of Whitby and their consultant, MHBC Planning, on supporting the interests of the land owners group. Sierra received council support on their development applications The development team continues work with the Town of Whitby

13 PROJECT UPDATES JANUARY 2016 PAGE 13 VICTORIA PARK PLACE SOLOTEX CORPORATION LOW-RISE STACKED TOWNHOUSES / TORONTO, ON / 140 UNITS THE TREE HOUSE SYMMETRY & ENGINE CONTINUED LOW-RISE STACKED TOWNHOUSES / TORONTO, ON / 39 UNITS With sales having surpassed 70%, the development team is now focusing their efforts on finalizing municipal approvals. The developer has received a lot of positive feedback from the media and within the industry in this high-design project. Solotex continues to work on obtaining approvals, which remain on target for early Similarly, a sales and marketing launch for the project will be announced in spring Treehouse is now over 70% sold Sales & marketing will be announced in Spring 2016 LAKE & EAST SYMMETRY & ENGINE HIGH-RISE CONDO / OAKVILLE, ON / 140 UNITS TRIPLE CREEK LOW-RISE SINGLE FAMILY / CALGARY, AB VIP A local engineering and planning team at Dillon Consulting is working with the team on updated plans and servicing proposals to initiate land-use approvals. The product type and development scheme will provide a better fit for marketing purposes when the lots go on sale. The architect for this project has been working on cost efficiencies with the design and floor plan layouts. The developer has begun working with the community and ratepayers groups to gain some initial traction and support prior to making their formal planning applications. Planning team working on approvals This project is in the midst of the development phase

14 PAGE 14 JANUARY 2016 PROJECT UPDATES PROJECT INDEX IN PRE-DEVELOPMENT PROJECT DEVELOPER LOCATION TYPE UNITS Bronte Crossing Kingridge Developments Oakville, ON Commercial N/A Castlemore Cachet Developments Brampton, ON Low-rise Single Family 258 Charlotte Adelaide Tower Cityzen Developments Toronto, ON High-rise Condo 215 Crestview Commons Carlyle Communities Mississauga, ON Low-rise Townhouses 26 Eaton Square Empire/Pace Markham, ON Low-rise Townhouses 178 Estates of Nobleton Cityzen/Tercot Nobleton, ON Low-rise Single Family 150 Glens of Halton Hills Catalina Developments Georgetown, ON Low-rise Single Family 141 Harmony Village Lake Simcoe City Core Developments Barrie, ON Mixed Use TBA Harris Beech Best Homes Richmond Hill, ON Low-rise Single Family 24 Humberstone Kingridge Developments/ Worthington Homes Georgetown, ON Low-rise Townhouses 102 Lake & East Symmetry Developments Oakville, ON High-rise Condo 140 Nobleton South Cityzen/Tercot Nobleton, ON Low-rise Single Family 99 North Lamb Development Corp. Edmonton, AB High-rise Condo 350 Old Market Lane Cityzen/Fernbrook Vaughan, ON Mid-rise Condo 146 Peter Richmond Land Assembly Carlyle Communities Toronto, ON High-rise Condo 350 Port Place Fortress Real Developments St. Catharines, ON Mixed Use 130 Port Place 2 Fortress Real Developments St. Catharines, ON Mixed Use 56 The Greenwood Sierra Building Group Toronto, ON Mid-rise Condo 104 Towns on Hall LiVante Developments Richmond Hill, ON Low-rise Townhouses 22 Triple Creek VIP Development Group Calgary, AB Low-rise Single Family N/A Uptowns of Unionville Sunrise Homes Markham, ON Low-rise Townhouses 52 Victoria Medical Arts Amadon Group Victoria, BC Mid-rise Condo 72 Victoria Park Place Solotex Corporation Toronto, ON Low-rise Stacked Townhouses 140 Villagio Empire/Pace Vaughan, ON Low-rise Townhouses 25 Whitby Commercial Rosewater Management Group Ltd. Whitby, ON Commercial N/A Woodbridge Park (Kipling Court) Sierra Building Group Vaughan, ON Low-rise Townhouses 256 IN PRE-SALES PROJECT DEVELOPER LOCATION TYPE UNITS Alloa Greens (Mayfield 2 & 3) Flato Developments Inc Brampton, ON Low-rise Single Family & Townhouses Brock Village LiVante Developments Pickering, ON Low-rise Townhouses 42 Brookdale on Avenue Road Cityzen/Fernbrook Toronto, ON Mid-rise Condo 82 Creekwood (Chappelle) Averton Homes Edmonton, AB Low-rise Townhouses 18 East Fifty Five Lamb Development Corp. Toronto, ON High-rise Condo 277 Graydon Hill Averton Homes Edmonton, AB Low-rise SIngle Family 11 Jasper House Lamb Development Corp. Edmonton, AB High-rise Condo 260 Lotus (Residences of Bayview) Chestnut Hill Developments Toronto, ON Mid-rise Condo 234 Pivot (Rutherford) Averton Homes Edmonton, AB Low-rise Townhouses 130 SkyCity Centre Winnipeg (LiveWorkPlay Winnipeg) Fortress Real Developments Winnipeg, MB Mixed Use 382 Station West (Masonry) ADI Developments Burlington, ON Low-rise Townhouses 500 The Anchors West (MM1) Dunsire Developments Mississauga, ON Low-rise Stacked Townhouses 62 agents The Anchors and/or from East relative (MM2) construction documents and Dunsire deemed Developments to be reliable. All forecasted dates and Mississauga, timing for approvals, ON permits Low-rise and construction Stacked Townhouses do not take into consideration

15 PROJECT UPDATES JANUARY 2016 PAGE 15 ( IN PRE-SALES CONTINUED) PROJECT DEVELOPER LOCATION TYPE UNITS The Harlowe Lamb Development Corp. Toronto, ON High-rise Condo 210 The Orchard Lamb Development Corp. Calgary, AB High-rise Condo 485 The Tree House Symmetry & Engine Developments Toronto, ON Low-rise Stacked Townhouses 39 White Cedar Estates Dunsire Developments Guelph, ON Low-rise Single Family 25 UNDER CONSTRUCTION PROJECT DEVELOPER LOCATION TYPE UNITS 6th And Tenth Lamb Development Corp. Calgary, AB High-rise Condo 230 Braestone Georgian Developments Oro Medonte, ON Low-rise Single Family 229 Brant Park Lamb Development Corp. Toronto, ON High-rise Condo 243 Capital Pointe Fortress Real Developments Regina, SK Mixed Use 320 Collier Centre and LAKEview Condominiums Fortress Real Developments Barrie, ON Mixed Use 82 Eden Pace Developments King City, ON Low-rise Single Family 28 Harmony Village Sheppard City Core Developments Toronto, ON High-rise Condo 823 Kingridge Square (Speers commercial) Kingridge Developments Oakville, ON Commercial N/A King Square Commercial (Phase 1) Global Link Realty Group Inc. Markham, ON Commercial N/A LINK Condos + Towns (Sutton) ADI Developments Burlington, ON Mid-rise Condo 298 Prescott Averton Homes Edmonton, AB Low-rise Single Family 32 SoBa Lamb Development Corp. Ottawa, ON High-rise Condo 240 Solterra Fusion Homes Guelph, ON Low-rise Single Family 275 Ten88 (Progress Manors) Empire/Pace Toronto, ON Low-rise Stacked Townhouses 201 The Mark Empire/Pace Markham, ON High-rise Condo 220 The South Shore (Crates Landing) Fortress Real Developments Keswick, ON Mixed Use 154 OCCUPYING, COMPLETED & PAST PROJECTS PROJECT DEVELOPER LOCATION TYPE UNITS Avalon Hush Developments Oakville, ON Low-rise SIngle Family 13 Bridgewater Residences on the Lake MADY Development Corp. Burlington, ON High-rise Condo 173 Bronson Lamb Development Corp. Ottawa, ON High-rise Condo 209 Countryside Crossing Flato Developments Inc Brampton, ON Commercial N/A Dufferin Medical Bw Professional Centres Toronto, ON Commercial N/A Estates of Black Creek Worthington Homes Georgetown, ON Low-rise Single Family 20 Gotham Lamb Development Corp. Ottawa, ON High-rise Condo 250 Helen Avenue Flato Development Group Markham, ON Low-rise Townhouses 46 King Charlotte Lamb Development Corp. Toronto, ON High-rise Condo 232 Lloyd Avenue Terrasan Corporation Toronto, ON High-rise Condo N/A Mayfield 1 Flato Developments Inc Brampton, ON Low-rise Townhouses 17 Mount Joy Empire/Pace Markham, ON Low-rise Townhouses 44 Munir on Duffins Creek Ahk Construction Group Pickering, ON Mixed Use 30 The Mod rn ADI Developments Burlington, ON Mid-rise Condo 78 Trafalgar Square Apache Developments Oakville, ON High-rise Condo 29 Wismer 2 Pace Developments Markham, ON Low-rise Townhouses 65

16 BROKERAGE LIC. # OVER 70 PROJECTS IN 10 MAJOR CANADIAN MARKETS with a mix of HIGH & LOW RISE RETAIL AND COMMERCIAL DEVELOPMENT THIS NEWSLETTER WAS CREATED THROUGH A JOINT COLLABORATION BETWEEN: FORTRESS REAL INC. FortressRDI FortressRDI BUILDING & DEVELOPMENT MORTGAGES CANADA INC. (LIC #10102) BDMCinc BDMortgages