Five Point (FPH) Investor presentation summary

Market opportunity and value creation

• California has ~40 million residents, a $4.1 trillion nominal GDP and housing supply constraints; state population rose by 108,000 in 2024.

• Communities integrate housing, commercial uses, schools, parks and open space; the portfolio spans ~18,000 gross acres and ~10,500 acres of planned open space.

• Great Park average residential land price reached $11.7 million per acre in H1'25, with ~19% CAGR since 2020; profit participation and variable-price payments generated $168 million in additional revenue since 2020.

• Communities include ~2,400 acres of future development, with homesite sales expected to conclude by 2050, subject to regulatory approvals.

Great Park

• Spans ~2,100 acres with up to ~10,500 homesites; ~9,000 homesites, including ~850 affordable homesites, had been sold as of Q2'25.

• Q2'25 land sales totaled 82 homesites on ~5.7 acres for $63.6 million, or ~$11 million per acre; builders sold 112 homes.

• Nine District 6 North programs totaling 572 homesites were contracted to six builders; eight were anticipated to close in 2025 and the final program in 2026.

• Irvine planning updates may enable conversion of some or substantial portions of remaining commercial land holdings to residential use.

Valencia and Candlestick

• Valencia spans ~15,000 acres, with ~21,500 potential homesites planned; ~3,000 had been sold as of Q2'25, and 2024 land sales revenue was $139 million.

• Pending approvals could enable ~8,900 additional market-rate homesites and ~180 net commercial acres at Valencia; two Mission Village sales were being pursued for expected 2026 and 2027 closings.

• Candlestick and San Francisco Shipyard comprise ~800 bayfront acres planned for up to ~12,000 homesites and ~6.3 million sq. ft. of commercial space, subject to land-use planning.

• Candlestick's program includes up to 7,200 housing units, 2.8 million sq. ft. of R&D/office space, 550,000 sq. ft. of commercial space and 105 acres of outdoor space.

• Phase 2 infrastructure permitting was targeted for Q1'26 and construction for early 2026; public financing may reimburse development costs.