ABSORPTION SCHEDULE BY PRODUCT THE 1,932-UNIT DEVELOPMENT PROGRAM FOR COTINO™, A STORYLIVING BY DISNEY™ COMMUNITY, IS PROJECTED TO BE SUBSTANTIALLY ABSORBED WITHIN 7 YEARS ► Stabilized absorption by product projected to average 310 units per year for a fully-segmented program. The absorption schedule below is unconstrained and presents the maximal potential absorption. ► As the community establishes critical mass, denser and lower priced product would be introduced and significantly increase absorption, peaking at 310 units per year in 2025 and 2026, and averaging 292 units per year during stabilized years (2024 to 2027). Absorption Schedule by Product Type ($2022) 100 150 200 250 300 350 50 Note: Absorption is constrained after 2026 based on remaining inventory for each product type. 2023 2024 2025 2026 2027 2028 DPEP | Cotino™, a Storyliving by Disney™ Community | Rancho Mirage, California 2029 2030 2031 2032 Source: RCLCO R1-12149.06 | March 25, 2022 | 9 Builder 120's / Bob Hope Builder 90's Builder 70's Builder 60's Builder 50's - Front-Loaded Builder 40's / 50's - Alley-Loaded Condo Town Center Condo