Five Point Holdings, LLC

Structure and Formation of Our Company ; FP LP refers to Five Point Communities, LP, a Delaware limited partnership; FP Inc. refers to Five Point Communities Management, Inc., a Delaware corporation, which is the general partner of, and owns a 0.5% Class A limited partnership interest in, FP LP; FPL refers to our subsidiary, Five Point Land, LLC, a Delaware limited liability company, which owns Newhall Land & Farming; fully exchanged basis assumes (1) the exchange of all outstanding Class A units of the operating company for our Class A common shares on a one-for-one basis, (2) the exchange of all outstanding Class A units of the San Francisco Venture for our Class A common shares on a one-for-one basis and (3) the conversion of all of our outstanding Class B common shares into Class A common shares; Gateway Commercial Venture refers to Five Point Office Venture Holdings I, LLC, a Delaware limited liability company, which previously owned portions of the Five Point Gateway Campus; GFFP refers to GFFP Holdings, LLC; Great Park Venture refers to Heritage Fields LLC, a Delaware limited liability company, which is developing Great Park Neighborhoods; HRH refers to Hearthstone Residential Holdings, LLC, a Delaware limited liability company, which is primarily engaged in providing management services to residential land banking funds; Hearthstone Venture refers to HRH together with its consolidated subsidiaries; homes includes single-family detached homes, single-family attached homes and apartments for rent; homesite refers to a residential lot or a portion thereof on which a ho