SAMPLE - ADDED VALUE INFORMATION

Irene LoCoco<irene.lococo@imapac.com> 4/26/13

to: Paul, me, erika.htun, chen.yang

Dear Team,

I have listed below some of the current market activities, backed up by amazing speakers. See the complete list here: Y:\IMAPAC Events\2013 Events\Retirement Living China 2013 - colocate PHC\Sales Folder/Sales pitch RLW13

And please, make sure you read thoroughly and USE ON YOUR PITCH. It is really good material, so make sure you understand it and use it. If in doubt, ask me a million times.

CURRENT ACTIVITIES IN THE MARKET Being addressed in the programme by the companies heading those projects

  • Columbia Pacific, a Seattle-based company, is partnering with one of China's largest real estate developers to build senior living facilities in Beijing, including a 60,000-square-foot facility set to open this summer. Cascade Healthcare (Speaker: Serena Xie), a China-based affiliate of Columbia Pacific, and Sino-Ocean Land, the Chinese developer, have formed a Sino-Foreign Joint Venture to develop and operate their first project together: a senior care facility in southeast Beijing.
  • China Senior Care (Mark Spitalking speaking) is finishing the building of a 64-bed acute-care facility in Hangzhou. The company has raised $20 million with backing from Robert Tanenbaum.
  • At Cherish-Yearn, an upscale retirement community on the outskirts of Shanghai, Chairman Xi Zhiyong has invested 600 million RMB to build 800 apartments. (Shan Hua, Vice President, is speaking)
  • Largest operators in Europe, FOUR SEASONS HEALTHCARE (UK) and JARDINS DE CYBELE (France), have both invested a lot of time and capital into the Chinese market and are in the process of setting up their operations in China. (Speakers include Ian Smith, Chairman of Four Seasons, and Pascal Brunelet, CEO of Jardins de Cybele)
  • Largest operators in US, Belmont Village and Avalon, have both set a foot into the Chinese market and expanded their operations in this part of the world, with intentions of keeping expanding the number of homes they operate nationally. (Patricia Will, CEO of Belmont, and Randy Kirton, Chairman of Avalon, are coming from the US as keynote speakers)
  • Largest investor in the Retirement Living Sector, Fortress Investment, has already invested in Cascade Healthcare and other joint ventures in China, and is exploring further investments. (Mark Erickson, MD of Fortress Investment, is sharing this at the event)

Other Industry Developments 2012-2013

  • Senior care technology provider Tel-Tron Technologies Corp has become the first US-based company in its market to provide solutions for use by senior care facilities in China. Rich Taylor, Senior Vice President of Market Expansion, said: “The potential growth of the China senior living market based on census data alone is staggering.”
  • At the Happy Community housing development in Beijing, China’s largest property developer is setting aside 24,000 sqm for active seniors to test whether this rapidly ageing nation will pay for Western-style retirement living.
  • The China Vanke Company (developer) thinks there is “ample room for development” in the elder care sector and is testing a second pilot project for seniors in the coastal city of Qingdao. The company plans to open a showroom in the Chinese capital over the Chinese New Year in February 2013.
  • In September 2011, Seattle-based Emeritus Senior Living announced a joint venture with Columbia Pacific Advisors to form Cascade Healthcare (Serena Xie speaking), the first foreign entity to gain permission from the Chinese government to open a for-profit senior care community in China. Serena Xie, MD for Cascade Healthcare, says there are “tremendous opportunities” for companies such as her own to develop the country’s senior care model.
  • Chinese insurance companies have also pumped money into the sector, with Ping An having staked 17 billion RMB in a retirement community in Zhejiang Province in September 2012. That was the fourth insurance investment in retirement homes, after smaller projects by China Life in Hebei, Taikang Life in Beijing, and Taiping Life in Shanghai.
  • Companies based in Singapore are also looking to expand. Econ Healthcare Group, which runs nursing homes and a hospital in Singapore and Malaysia, is consulting with the government of the city of Suzhou on a retirement village with more than 300 apartments, which could be up and running by mid-2013, according to Executive Chairman Ong Chu Poh.