Effective Date: May 20, 2016.

This confidential presentation (this ”Presentation”) and the material provided herein is for informational purposes only. APPA is not soliciting or recommending any action based on this material. It does not constitute and offer to sell or a solicitation of an offer to buy any securities relating to APPA Real Estate, LLC (the “Fund”) or any parallel investment entity thereof (collectively, “APPA Impact”) or any other securities, notwithstanding that such securities are currently being offered. Any such offering of APPA Impact will be made only in accordance with the terms and conditions set forth in, and the material provided herein is qualified in its by reference to, the confidential offering memorandum of APPA Impact (as modified or supplemented from time to time, the “Memorandum”) and the governing documents of the applicable APPA Impact entities and the subscription agreements in respect thereof (collectively, the “Agreements”), copies of each of which will be provided to each prospective investor upon request and should be reviewed before making an investment in the Vehicle or in any parallel investment entity (collectively, an “Investment”).

This Presentation is not intended to be relied upon as the basis for an investment decision, and is not, and should not be assumed to be, complete. In making an investment decision, prospective investors must rely on their own examination of the merits and risks involved. The contents herein are not to be construed as legal, business, or tax advice, and each prospective investor should consult its own attorney, business advisor, and tax advisor in order to make an independent determination of the suitability and legal, business, and tax consequences of an Investment.

In considering any performance information contained herein, prospective investors should bear in mind that past or projected performance is not necessarily indicative of future results, and there can be no assurance that the Vehicle or any parallel investment entity will achieve comparable results or that targets returns, if any, will be met. Potential investors must be prepared to bear capitol losses, even a total loss of the amount invested. The information herein (including all projected performance information) includes, or is based upon, observations and/or assumptions and involves significant elements of subjective judgment and analysis. No representations are made as to the accuracy of such observations and assumptions and there can be no assurances that actual events will not differ materially from those assumed. In the event any of the assumptions used in this Presentation do not prove to be accurate, results are likely to vary substantially from those discussed herein. Any opinions expressed in this document may be subject to change without notice.

Any Investment is subject to various risks and other investment considerations, none of which are outlined herein. A description of certain risks and investment considerations involved with an Investment can be found in the Memorandum; such risks and investment considerations should be carefully considered by prospective investors before they make any investment decision.

APPA and its affiliates reserve the right to modify any of the terms of the offering and the interests described herein, the Memorandum, or the Agreements.

Recipients of this Presentation agree that APPA, its affiliates and their respective partners, members, equity holders, employees, officers, directors, agents, and representatives shall have no liability for any misstatement or omission of fact or any opinion expressed herein.
Statements in this Presentation are generally made as of June 2017 and neither the delivery of this Presentation at any time nor any sale of any interests described herein shall under any circumstances create an implication that the information contained herein is correct as of any time such date.

This Presentation is intended solely for the recipient thereof. Its content is legally privileged and/or confidential. The recipient further agrees that it will (i) not copy, reproduce, or distribute this Presentation, in whole or in part, to any person or party (including any employee of the Recipient, other than on a confidential basis and subject to this sentence an employee directly involved in evaluating an Investment) without the prior written consent of APPA; (ii) keep permanently confidential all information contained herein that is not already public; and (iii) use this Presentation solely for the purpose evaluating a potential Investment.

Copyright © 2017 APPA Real Estate, LLC. All rights reserved.