Developing the Business of Infrastructure TM

June 2016

Developing the Business of Infrastructure TM

Capturing Value in Infrastructure and Real Assets Realization of value in any asset class depends upon clear understanding of its equity characteristics.

TFIC offers access to above-market returns through rigorous focus on an under-served market segment and application of a strong knowledge-based skill set to develop value in assets and enterprises.

It also results from the ability to apply expertise and knowledge- based capabilities to transactions and management to position assets for best execution. TFIC understands that the tremendous need for infrastructure in the United States extends beyond the parameters that frequently constrain institutional and private equity investors. In fact, the relationship between infrastructure, property, and the enterprises and technologies that operate in their service, is as complex as it is synergistic. TFIC applies its expertise to identify and position development opportunities and investments to their best advantage, by understanding the respective investment theses of different investor types – whether traditional private equity, ‘real money’ endowments and private wealth, or public or private institutional investors. Whether in transportation, energy, social infrastructure, waterworks, infrastructure services or technologies, common equity traits – monopolistic positioning, regulatory framework, government permitting, captive revenue bases – give rise to incremental value.

“We expect to see new innovative ways of ‘value capture’ emerge and public authorities will get tougher and smarter with private developers who own land surrounding projects.” - KPMG “Foresight” January 2016

Importantly TFIC’s opportunities all revolve around providing above market returns in exchange for the effort to understand, structure, package and position assets in a historically under-served sector.

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Developing the Business of Infrastructure TM

Treadwell Franklin Infrastructure Capital TFIC is an advisor, developer and manager of investment opportunities in infrastructure-oriented plant and property assets, as well as associated operating enterprises and technologies that enhance and enable value of such investments. TFIC is not a fund. TFIC mobilizes and leverages development capital into control positions in its projects. We team with third party capital, as well as technical and operating partners, bringing projects to fruition.

• • • • •

Enhanced Value Investments Project financing Strategic Capital Targeted Sector Funding Tax-exempt structures

(Note: TFIC is not an Investment Adviser under Section 202(a)11 of the US Investment Advisers Act of 1940, and is not registered as a Municipal Finance Adviser under the SEC/MSRB Municipal Adviser rule) • Projects Development • Development and financial arrangement for Infrastructure Related / TOD Properties and municipal facilities/social infrastructure: − Rail & Transit developments − Airport-adjacent Properties − Port Facilities / logistics − Municipal building development

• Advisory • Development • Investment

• Strategic / financial advice to: − Domestic / Global E&C firms − Land owners/developers − Concessionaires / Operators − Infrastructure funds and investors • Teaming / Partnering Introductions • PPP and Private Infrastructure

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Developing the Business of Infrastructure TM

Projects and Prospects

A Differentiated Approach Treadwell Franklin Infrastructure Capital is distinguished by its differentiated approach both to its clients and its project developments. Projects and enterprises of TFIC are designed to produce actual tangible and meaningful value, not only for investors, but for the public sector and communities where we operate. Value to the community can be derived in a number of ways: • • • • •

TFIC is continuously executing a number of high-value opportunities, and building backlog with new and repeat clients. Treadwell Franklin considers new opportunities on a highly selective basis. The firm’s unique market posture and extensive relationships serve as a productive source of new opportunities in this underserved market. Screening of new transactions is based on timing, probability of success / feasibility, adherence to business thesis and TFIC strategic advantage.

Income tax revenues from increased commerce Ground and facility rental payments User fees and revenue sharing Tax increment and other value-capture methods Direct pay concession and purchase proceeds

However value is created and transferred, it is considered essential for not only project success, but that of TFIC in the long run. This is important.

TFIC’s business does not contemplate reliance on the public sector to identify and appropriate revenues for infrastructure projects, or exposure to lengthy and uncertain competitive processes. Instead, our approach is to create self-determination, developing models that enable revenue generating assets that sustain themselves and contribute revenues back to the public sector. In time, this return of value will help the public sector to afford more core infrastructure supported by ancillary assets ….like TFIC’s.

TFIC projects include opportunities in transit node development, airport properties, logisitics facilities, social infrastructure, mixed use development infra-cos, energy/ power assets, water plant upgrades and repurposing, and inside-the-fence office, parking and hospitality assets. Strategically, TFIC seeks to identify projects with replicable structures and wide application, to leverage transaction experience and technologies, to optimize transaction processes and increase probability of success, all toward improved investor value.

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Developing the Business of Infrastructure TM

Shareholders and Management Team

Stephen Rigal Jones, President and CEO Partner

Andrew Nelson, Partner

Dean F. Radeloff, P.E., Partner

Eric Swanson Partner

Investor Relations; Project Finance

Economic Development; Energy

Transportation / TOD; Construction & Engineering

Real Estate; TOD and Infrastructure Properties

New York, NY

Portland, ME

Dallas, TX

Miami FL

TFIC partners represent an unparalleled base of experience and capability in finance, investment management, real estate and property and economic development, engineering, construction, stakeholder management and government relations, all critical to technical and financial project success.

Advisory Board George N. Campbell Jr., is Partner and Chair of the Advisory Board of Treadwell Franklin Infrastructure Capital, LLC. George Campbell was formerly Transportation Commissioner for both the State of Maine, and the State of New Hampshire, was elected as Mayor of Portland, Maine, and was President of Pierce Atwood Consulting and CBRE/Boulos New England. George is currently President and CEO of the University of South Maine Foundation. Mr. Campbell is responsible for identifying and assembling members for the TFIC Advisory Board, from among TFIC investors, as well as key partners from industry, government, and finance, who share a common vision of TFIC’s mission and who can effectively help promote and guide the firm’s business.

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Developing the Business of Infrastructure TM

Contact Information Stephen Rigal Jones

Tel: 646-537-5508

Email: [email protected]

Andrew Nelson

Tel: 207-650-0773

Email: [email protected]

Dean F. Radeloff, P.E.

Tel: 305-450-4776

Email: [email protected]

Eric Swanson

Tel: 305-216-2110

Email: [email protected]

Website

www.tficapital.com

50 Pine Street, Suite 7-South New York, NY 10005 USA

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Email: [email protected]