ClubCorp is a leading private club operator with over $2 billion in assets and 170,000 household memberships. It operates 160 properties worldwide including golf clubs, city clubs, and resorts. ClubCorp aims to increase value for its affluent members through benefits both within their home clubs and through partnerships with other clubs and brands. This allows members access to a variety of hotels, resorts, restaurants and other services around the world.

1. The World Leader in Private Clubs ClubBenefits Member Partner www.clubbenefitsonline.com

2. ClubCorp Overview $2.0 billion in assets $900 million in gross revenues 160 properties worldwide 2 World-Class Golf Resorts 55 Business & Sports Clubs 103 Golf & Country Clubs 16,000 Employee Partners 170,000 Household Memberships Privately owned by KSL Capital Partners ClubCorp has over 50 years experience in the private club industry Founded in 1957 Pioneered professional management of the private club industry Notable properties: Indian Wells Country Club, Mission Hills, City Club of Washington, Firestone Country Club, GlenEagles, Metropolitan Club of Chicago, The Homestead

3. Member Profile 170,000 household memberships Average age: 51.7 years Education: 79% college graduate; 42% post graduate Occupation: 86% professional Average net worth: US$2.0 million Business and social leaders within the community Columbia Tower Club Seattle, Washington

4. The Membership Business Of all ClubCorp’s assets, our Members are the most significant. Our network of private clubs, resorts and affiliates are part of our competitive advantage. Our ability to offer Members these spectacular privileges and ClubBenefits “outside the walls” of their home club greatly increase enrollments, as well as improve retention. Tower Club Dallas Dallas, Texas The Carolina Club Chapel Hill, North Carolina

5. Overview ClubCorp is in the membership business with the goal of constantly increasing the value for belonging to our clubs. Of all ClubCorp’s assets, our Members are the most significant. Our network of private clubs, resorts and affiliates are part of our competitive advantage. Our ability to offer Members, our most prized asset, these spectacular privileges and benefits “outside the walls” of their home club greatly increase enrollments at our Clubs, as well as improves retention. Additionally, ClubCorp’s Affiliate ClubBenefits Membership platform delivers an impressive cross section of services, benefits and access for our Members. This creates a larger community of affluent Members and a communication infrastructure that enables ClubCorp to leverage 50+ years of Membership expertise. MEMBER PARTNERS ClubCorp will offer unique benefits, services, and private club access to affluent Clubs, associations and affinity groups in bulk form within a wholesale dues model. A Member Partner relationship reaffirms the importance of the Members home club membership by providing membership value wherever the Member travels. ClubBenefits Member Partner Clubs have increased enrollments, higher Member retention and generate additional revenue which provides a competitive set of advantages that differentiates us from the competition. STRATEGIC ALLIANCES ClubCorp is seeking to develop alliances with some of the world’s best brands who will purchase integrated marketing packages from us in order to reach our Members in a sophisticated manner . This strategy will provide Members benefits and/or unique experiences that will be extended by affluent brands to any Member having an interest in purchasing or learning more about the offering (exclusive pricing). BENEFIT PARTNERS ClubCorp will engage it’s Members, by leveraging multiple communication channels, to increase their club usage and lifestyle “spend” with our selected Benefit Partners.

6. Member Partner Benefits & Overview ClubBenefits create a Premium Membership for your organization providing increased member value , enhanced communication , and increased profitability to your organization. ClubBenefits features a private labeled, customized benefits package available exclusively for Members of your organization or club. A personalized Membership card for your Members as well as a subscription to the award-winning Private Clubs Magazine. Creation of a Member website (www.clubbenefitsonline.com) that can be accessed through your existing Club website that will highlight the benefits package that is available to your Members. Member Partner Club will be recognized in Private Club Magazine and on the ClubBenefitsonline.com web portal. Increased member engagement through new communication channels (website, magazine & e-blasts) Incremental revenue opportunities from ClubCorp travelling Members visiting your Club.

7. Benefit Partner Commitment ClubCorp offers the selected clubs, associations, businesses and affinity groups access to our most prized asset: Our Members. We have approximately 170,000 memberships represented in our program. They represent an incredible amount of purchasing power. However, the real value of our Members is not measured by their affluence, but rather, by their influence. The majority of our Members are Owners, CEOs, Presidents and Executives. Our Private Clubs magazine is published 4 times a year and is only available to our Members. You will be listed in the magazine as a participating Benefit Partner in your market. Our ClubBenefits concierge desk, The ClubLine, speaks with approximately 1,000 Members each day. Members are required to direct all reservations, tee-time requests and questions to our ClubLine representatives where all is handled professionally and seamlessly without undue efforts on your team’s part. Benefit Partners provide access and influence to our Members increasing the value of membership. Revenue Share Opportunities from ClubCorp travelling Members.

8. Menu of Member Partner Benefits Private label member card Private Clubs Magazine Concierge & white label call center Integrated communications platform Access to premier and private golf Preferred deals and treatment at hotels, resorts, restaurants and more Business club access nationwide Luxury health club access Indian Wells Country Club Indian Wells, California

9. Integrated Communications Platform e-Blasts Member event registration Calls to action Custom Templates Website Platform Private label web platform Personalized, interactive content Comprehensive metrics and data

10. Hotels, Resorts, and Restaurants Sample Restaurant Partners Emeril’s, Wolfgang Puck, Roy’s, House of Blues, Del Frisco’s, Charlie Palmer’s, Fulton’s, James Beard House, Capital Grille and Tavern on the Green Sample Hotel and Resort Partners Preferred Hotels and Resorts, Orient-Express, Ritz-Carlton, KSL Resorts, Kimpton Hotels and Resorts, Omni Hotels and Club Quarters Restaurants VIP seating Private access to public places Over 100 Premier Restaurants Hotels and Resorts Discounts on the best available rate Packages and experiences VIP upgrades and status