Encore's first Hospitality Fund, which was sold as a portfolio to Goldman Sach's Archon Group in 2007, generated an annual IRR of 51%. We see a similar environment today and are raising money for our second fund. Please see the attached presentation, and reach out to me with any questions.

1. 5005 LBJ Freeway, Suite 1200 | Dallas,TX 75244 | www.encore.bz
HOSPITALITY FUND II

2. 2
TABLE OF CONTENTS
EXECUTIVE SUMMARY 3
THE OPPORTUNITY 5
ENCORE HOSPITALITY OVERVIEW 17
ENCORE ENTERPRISES OVERVIEW 26
TEAM BIOS 31
Queen & Crescent Hotel, Marriott Autograph Collection – New Orleans, LA
Acquired December 2015

3. (1) The actual portfolio IRR based on realized hospitality investments as of May 31st, 2017. Past performance is not indicative of future results. No representation is made that any
investment will or is likely to achieve profits or losses indicated herein or achieve profits or losses similar to those achieved in the past or that losses will be avoided.
EXECUTIVE SUMMARY
ENCORE HOSPITALITY
• Encore Hospitality, LLC (“Encore Hospitality” or “Encore”) is a hotel developer and management company that has been investing in full and
select-service hotels nationwide across multiple cycles for 17 years. Since inception, Encore has developed and acquired 52 hotels with 6,480
rooms. Encore currently owns and operates 9 hotels representing 1,106 keys totaling $183 million in assets under management.
• Since inception, the firm has generated a 51% realized IRR(1) across all hospitality investments. Encore Hospitality has built a strong reputation
in the market for its ability to source unique investment opportunities and maximize risk-adjusted returns by investing up and down the risk
spectrum.
INVESTMENT OPPORTUNITY
• Encore Hospitality is delighted to offer investors the opportunity to purchase interests in Encore Hospitality Fund II. The fund intends to grow a
portfolio of Hilton, Marriott, and Starwood limited lodging and full-service hotels through value-add acquisitions.
• Encore’s typical acquisition / ownership process entails:
• Acquiring the properties below replacement cost
• Investing capital in the Franchisor Property Improvement Plan
• Improving the physical plant and repositioning the hotel at the prevailing market rates
• Implementing revenue management and best-in-class operating procedures
• Positioning the hotel for sale within five years
3
EXECUTIVE SUMMARY

4. (1) CBRE Hotels - http://www.cbrehotels.com/EN/Research/Pages/2018-Hotel-Industry-Outlook-Remains-Positive.aspx
(2) Several hotels experienced multiple PIPs under Encore’s ownership hence why there are more PIPs complete than hotels acquired
EXECUTIVE SUMMARY
INVESTMENTTHESIS
• There is opportunity to acquire value-add hotels with positive cash flow, below replacement cost in primary, secondary, and tertiary markets.
While the lodging industry is currently in the 8th year of growth, many forecasts point to the ability to improve RevPAR as well as operating
margins.
• Encore Hospitality has a proven track record of acquiring both limited lodging and full-service hotels, implementing the Franchisor Property
Improvement Plan, repositioning the hotel in the market, and exiting at the most opportunistic time in the market cycle. New supply for 2018 is
forecasted to increase by 2% year-over-year.(1) There are some markets that are experiencing more growth than others. Encore has identified
target markets that are mature and have barriers to entry through research, market reports, and local market knowledge.
• Encore seeks to acquire hotels with the following characteristics:
• Value-add or newly built
• Primary and secondary markets
• 125 to 300 rooms
• Primarily Hilton or Marriott branded hotels
• Limited and full-service lodging hotels
• Concrete built (prefer no stick built buildings)
• Prefer limited lodging hotels between 7 and 10 years old, in need of renovation
• Poorly managed hotels with a RevPAR index below 100% and a GOP below 45%
• Market RevPAR greater than $65
• Encore Hospitality’s affiliated in-house construction company, Encore Construction, LLC, will implement the Property Improvement Plan in the
most cost efficient and timely manner possible. Encore Construction has performed over 70 hotel renovations across 13 different brands over
the last 17 years,(2) and has built 3 Marriott franchised select-service hotels from the ground up.
4
EXECUTIVE SUMMARY

5. THE OPPORTUNITY
5

6. OFFERING SIZE $40 to $80 million
SPONSOR Encore Hospitality, LLC
INVESTMENT
STRATEGY
Value-add acquisition of select limited and full-service Hilton, Marriott and Starwood
branded hotels located across the U.S. in specific target markets
TERM / EXIT
STRATEGY
Target 5 year hold with individual dispositions and/or portfolio exit
LEVERAGE Approximately 65% loan-to-value across portfolio
MINIMUM
SUBSCRIPTION
AMOUNT
$50,000
SPONSOR
CO-INVESTMENT
Up to 10% of the total equity capitalization
FUND SUMMARY
6
THE OPPORTUNITY

7. INVESTMENT STRATEGY
OPPORTUNITY PROFILE
• Encore Hospitality seeks opportunities with the following characteristics:
• Assets at a discount to replacement costs, in both primary and secondary markets
• Smaller, more entrepreneurial transactions - typically between $15 million and $40 million - that are too large for individual investors
but too small for larger funds
• Hotels with significant PIPs where value can be created through in-house construction and construction management
• Hotels with opportunity to reflag as a Hilton or Marriott
• Undercapitalized and under-managed properties
TARGET ASSET PROFILE
7
THE OPPORTUNITY
Primarily Hilton and Marriott branded
hotels
Mostly limited service, but some full-
service
125 to 300 rooms in primary or
secondary markets
Limited lodging hotels between 7 and
10 years old in need of renovation
Minimum market RevPAR of $65 or
greater
Constructed of steel or concrete to
facilitate an institutional exit
GOP below 45% Mature markets with barriers to entryRevPAR index below 100%

8. VALUE-ADD STRATEGY
8
THE OPPORTUNITY
HOW DOES ENCORE HOSPITALITY CREATEVALUE?
Attractive
Purchase
Price
Balance
Sheet
Restructuring
PIP
Renovation
Cost
Management
Corrective
Management
ADR and
RevPAR
Improvement
Guest
Satisfaction
Management
VALUE CREATION
Underperforming
Assets
Purchased below
replacement cost
(distressed valuations,
below market RevPAR,
rehabilitation/recapitalization
requirement)
Stable
Assets
(ADR and RevPAR
improvement, higher
occupancies and operating
efficiencies, and
value appreciation)

9. MITIGATIONAND MANAGEMENT OF RISKS
9
THE OPPORTUNITY
ASSETS
SELECTIVE BRANDS
EXPERIENCE
EXPERTTEAM
UPGRADES
ANALYSIS
Hotels will be acquired below
replacement cost, unencumbered
by existing management or debt
Targeted brands will be Hilton or
Marriott, providing access to franchise
benefits such as revenue management
systems and premier loyalty programs
Encore Hospitality’s extensive operational
experience with managing and building
hotels will be fully utilized to ensure
maximum finesse is employed
The team will carefully calculate the
total amount of capital expenditure
necessary to upgrade and reposition
investments
Operating standards, policies, and
procedures will be refined while also
integrating technological and operating
systems
Both internal and external data sources
will be diligently analyzed to identify
attractive, competitive environments,
demand drivers, and pricing trends

10. Dallas, TX
Tampa Bay, FL
Charlotte, NC
Nashville, TN
Denver, CO
TARGET MARKETS
10
THE OPPORTUNITY
• Encore has targeted select markets for new acquisition and development opportunities that indicate the following fundamentals:
• Market RevPAR at or above $65
• Limited land availability for new construction
• Positive historical RevPAR growth
New Orleans, LA
Austin, TX
Houston, TX
Atlanta, GA
Washington DC
Huntsville, AL
San Antonio, TX
Fort Lauderdale, FLFort Myers, FL
Durham, NC
Raleigh, NC
Long Island, NY

11. DEAL SOURCING
• Strong relationships with the top brokers in the nation:
• Relationships with brokers allow Encore Hospitality to identify potential off-market opportunities or less-marketed deals
• Leveraging strong relationships with Hilton and Marriott to identify other franchisees who are disposing of their assets
• Leveraging direct relationships with other Hilton and Marriott franchisees to identify opportunities to acquire assets on an off-market basis
11
THE OPPORTUNITY
ENCORE UTILIZES ITS EXTENSIVE NETWORK OF BROKERS AND DEAL INTERMEDIARIESTO
PROPRIETARILY SOURCETRANSACTIONS

12. PIPELINE: SELECT ASSET PROFILE
12
THE OPPORTUNITY
$14 MM SPRINGHILL SUITES ACQUISITION – DALLAS,TX
Total (in mm) Per Key
Purchase Price $13 $135,893
Renovation
Cost (“PIP”)
$1.4 $14,583
Total Acq.
Cost
$14.4(3) $150,476
Asset Limited-service, 56,000 square foot hotel with 96
rooms, an outdoor pool, and fitness center
Flag Marriott
Year Opened 1991
Total Capitalization $14.4 mm, $5 mm invested equity
Acquisition Cap Rate 7.7%
LTV 65%
TTM ADR/RevPAR $115.45 / $86.22
• Advantageously located along Interstate 35, in close proximity to the Dallas
Market Center, the Design District, and the University of Dallas
• The nearby Dallas Love Field Airport is one of the dominant economic drivers in
the area, transporting approximately 15.5 million passengers in 2016
• The MSA saw an increase of 96,104 new jobs from May 2016 to May 2017,
accounting for DFW’s below-average unemployment rate of 3.8%(1)(2)
TRANSACTION OVERVIEW
INVESTMENT HIGHLIGHTS FINANCIAL HIGHLIGHTS
(1) Economy at a Glance, U.S. Department of Labor (last visited July 25, 2017)
(2) Local Area Unemployment Statistics, U.S. Department of Labor (last visited July 26, 2017)
(3) Inclusive of closing costs & fees

13. PIPELINE: SELECT ASSET PROFILE
13
THE OPPORTUNITY
$21 MM SPRINGHILL SUITES ACQUISITION – LAS COLINAS,TX
Total (in mm) Per Key
Purchase Price $19.8 $165,275
Renovation
Cost (“PIP”)
$0.75 $6,250
Total Acq.
Cost
$20.6(1) $171,525
Asset Limited-service hotel on 2 acres with 120 rooms and
full catering facilities for banquets
Flag Marriott
Year Opened 2006
Total Capitalization $20.6 mm, $7.2 mm equity
Acquisition Cap Rate 7.3%
LTV 65%
TTM ADR/RevPAR $123.95 / $87.50
• The SpringHill Suites are located in the heart of Las Colinas, a 12,000 acre, master
planned business and residential community, one of corporate America’s premier
addresses
• Both the DFW International Airport and the Dallas Love Field Airport are less than
a 20 minute drive from the hotel
• The $165 million Irving Music Factory development plans to open in September of
2017; the venue will offer 250,000 square feet of entertainment, retail and
restaurant space as well as 100,000 square feet of office space for the Irving based
Ethos Group’s headquarters
TRANSACTION OVERVIEW
INVESTMENT HIGHLIGHTS FINANCIAL HIGHLIGHTS
[INSERT PHOTO]
(1) Inclusive of closing costs & fees

14. MARKET OPPORTUNITY
• U.S. lodging industry will enjoy continued growth in all major metrics in 2018
• CBRE is forecasting a 0.1% occupancy increase along with a 2.3% rise in ADR for 2018; the net result is a projected 2.4% boost to RevPAR
• 2018 will mark the 9th consecutive year of rising occupancy, something not seen since the 1990s
• While the slow growth in occupancy does indicate we are at the top of the business cycle, all factors indicate that we are in the midst of a record-
breaking, sustained period of prosperity for U.S. hotels
14
THE OPPORTUNITY
*Before deductions for management fees and non-operating income and expenses
Source: CBRE Hotels - http://www.cbrehotels.com/EN/Research/Pages/2018-Hotel-Industry-Outlook-Remains-Positive.aspx
2.0% 2.0%
0.1%
2.3%
2.4%
2.3%
2.6%
1.8%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
Supply Demand Occupancy ADR RevPAR Total RevPAR Operating
Expenses*
GOP*
Forecast Change – 2017E to 2018F
U.S. LODGING INDUSTRY PERFORMANCE

15. SNAPSHOT OFTHE SELECT-SERVICE MARKET
15
THE OPPORTUNITY
• The select-service segment of the U.S. hotel industry achieved a transaction volume of $7.4 billion in 2016, a decrease of approximately
$5 billion relative to 2015, although still above the five-year transaction volume average for the 2010 to 2014 period
• Domestic and foreign institutional investors accounted for 38% of total transactions
• Select-service transaction volume from June 2016 to June 2017 accounts for 18% of all U.S. hotel transaction volume for the same period
• More than two-thirds of investors expect the select-service market to continue to perform with positive RevPAR growth in 2017
• Competition for quality assets has increased as hotel owners are less incentivized to sell due to highly attractive debt, stable lodging
fundamentals and limited acquisition opportunities on the market
Source: JLL U.S. Select-Service 2017 Report
Increase of 2-
5%, 54%
Decline of more
than 5%, 2%
Flat-change of
up to +/- 2%,
33%
Increase of
more than 5%,
11%
Secondary
Markets, 53%
Gateway
Markets, 26%
Tertiary
Markets, 15%
Not Buying, 6%
2017 ANTICIPATED REVPAR PERFORMANCE WHERE INVESTORSARE BUYING

16. CASH FLOW FROM OPERATIONS
Simple Cumulative
Ownership / Equity Preferred Return Cash Flow IRR Hurdle Cash Flow Split
Contribution (pari passu) Split to LPs Thereafter
Partners 90% 8% 60% 15% 50%
Encore 10% 8% 40% 50%
CASH FLOW FROM RESALE
Simple Cumulative Return of
Preferred Return Adjusted Capital Cash Flow IRR Hurdle Cash Flow Split
(pari passu) Balance Split to LPs Thereafter
Partners 8% 90% 60% 15% 50%
Encore 8% 10% 40% 50%
INVESTOR WATERFALL
• Preferred returns are calculated based on the date of investment
• Invested capital will generate 5% preferred return annually until invested in a hotel; after the investment date, the investment’s
preferred return will increase to 8% annually
• Encore will co-invest up to 10% of the total capital into the fund
• The fund intends to make distributions quarterly
• The fund intends to deliver deal-level returns of 20%+(1)
• For a detailed breakdown of the terms of the offering please refer to page 36 of the Encore Hospitality Fund II PPM
16
THE OPPORTUNITY
(1) This is a projected multipleat the project level and may not correlate to the return an investor may receive. Private securities are risky investments not suitable for all investors. They may
involve a long hold period, are illiquid and may lose principal.

17. ENCORE HOSPITALITY OVERVIEW
17

18. TRACK RECORD OF SUCCESS
• Since inception, Encore has developed and acquired 52 hotels with 6,480 rooms(1)
• Of these investments, the Company has realized a 51% IRR(2) and 3.7x equity multiple(3) over 43 assets (verified by a Big 4 Auditor)
• At the portfolio’s peak, Encore’s hotels generated annual revenues over $100 mm and annual net operating income of ~$34 mm
• Encore’s in-house hotel management team is consistently ranked in the top 50 hotel management companies nationally*
18
ENCORE HOSPITALITY OVERVIEW
Note: As of May 31, 2017
* Hotel Business Magazine, editions: April 2002, September 2006, April 2007, September 2007, September 2008, September 2012
(1) Room count does not include 2 resort investments
(2) Actual portfolio IRR based on realized hospitality investments as of May 31st, 2017
(3) This is a projected multiple at the portfolio level and may not correlate to the return an investor may receive
INSTITUTIONAL PARTNERS
HOSPITALITY
# IRR Equity Multiple
Realized
Investments
43 51%(2) 3.7x
Current Portfolio
(FMV)
9 - 2.4x(3)
Total
Investments
52 - 3.1x(3)

19. PORTFOLIO SUMMARY
ENCORE HOSPITALITY OVERVIEW
19
Note: As of May 31, 2017
(1) Developed by Encore
(2) Actual portfolio IRR based on realized hospitality investments as of May 31st, 2017
# Status Flag Asset City State Service # of Rooms Year Built
Year
Renovated
Year
Acquired
1 Stabilized Marriott Fairfield Inn & Suites Spanish Fort AL Limited Service 83 2009 2017 Feb '09 (1)
2 Stabilized Marriott Courtyard Spanish Fort AL Limited Service 91 2009 2017 Apr '09 (1)
3 Stabilized Marriott Courtyard D'Iberville MS Limited Service 125 2010 - May '10 (1)
4 Stabilized Hilton DoubleTree Suites Atlanta GA Full Service 154 1985 2016 Aug '14
5 Stabilized Marriott Queen & Crescent Hotel New Orleans LA Full Service 196 1996 2017 Dec '15
6 Stabilized Marriott Residence Inn McAllen TX Limited Service 78 1999 2016 Feb '15
7 Stabilized Hilton Hampton Inn Tampa FL Limited Service 133 1988 2016 Feb '15
8 Repositioning Hilton DoubleTree Hotel Harrisonburg VA Full Service 143 1979 2017 Feb '16
9 Repositioning Hilton Hampton Inn Braintree MA Limited Service 103 2001 2018 May '17
Total 1,106
AL
16%
MS
11%
GA
14%
LA
18%
TX
7%
FL
12%
VA
13%
MA
9%
LIMITED VS FULL SERVICE
Hilton
48%
Marriott
52%
BRAND CONCENTRATION
Limited
55%
Full
45%
GEOGRAPHIC CONCENTRATION

20. ASSET LOCATIONS
20
ENCORE HOSPITALITY OVERVIEW
Residence Inn
McAllen, TX
Queen & Crescent
New Orleans, LA
Courtyard
D’Iberville, MS Two Properties:
Courtyard and
Fairfield Inn & Suites
Spanish Fort, AL
Hampton Inn
Tampa, FL
DoubleTree Hotel
Harrisonburg, VA
DoubleTree Suites
Atlanta, GA
Hampton Inn
Braintree, MA
Note: These properties represent Encore’s current portfolio and will not be contributed to the fund

21. CURRENT PORTFOLIO PHOTOS
21
ENCORE HOSPITALITY OVERVIEW
Queen & Crescent Hotel
Marriott Autograph Collection
344 Camp Street
New Orleans, LA 70130
DoubleTree Suites
Hilton
2780 Windy Ridge Parkway
Atlanta, Georgia 30339
DoubleTree Hotel
Hilton
1400 E Market Street
Harrisonburg, VA 22801
Courtyard
Marriott
11471 Cinema Drive
D'Iberville, MS 39540
Courtyard
Marriott
13000 Cypress Way
Spanish Fort, AL 36527
Fairfield Inn & Suites
Marriott
12000 Cypress Way
Spanish Fort, AL 36527
Hampton Inn
Hilton
4817 W Laurel Street
Tampa, FL 33607
Hampton Inn
Hilton
215 Wood Tree Road
Braintree, MA 02184
Residence Inn
Marriott
220 W Expressway 83
McAllen, TX 78501
Note: These properties represent Encore’s current portfolio and will not be contributed to the fund

22. SUPERIOR OPERATIONAL EXPERTISE
22
ENCORE HOSPITALITY OVERVIEW
• Encore’s in-house hospitality management team consists of 10 professionals with a combined 180 years of industry experience and Hilton and
Marriott brand experience
• The team currently has more than 250 dedicated people on the ground across all properties
• Throughout the first 12 to 18 months of acquisition, Encore’s strategy is to drastically improve the operations of their new assets in order to
achieve maximum efficiency and risk-adjusted probability, as seen in the two examples below:
$80.50
$89.76
$75
$80
$85
$90
$95
YTD June 2014 YTD June 2015
RevPAR
81.3%
84.8%
78%
80%
82%
84%
86%
YTD June 2014 YTD June 2015
Occupancy
43%
55%
30%
40%
50%
60%
YTD June 2014 YTD June 2015
Gross Operating Profit
MCALLEN RESIDENCE INN
$98.96
$115.31
$90
$100
$110
$120
YTD June 2014 YTD June 2015
RevPAR
81.5%
95.3%
70%
75%
80%
85%
90%
95%
100%
YTD June 2014 YTD June 2015
Occupancy
50%
59%
40%
50%
60%
70%
YTD June 2014 YTD June 2015
Gross Operating Profit
TAMPAWESTSHORE HAMPTON INN
9% increase
12.1% increase
Note: These properties represent Encore’s current portfolio and will not be contributed to the fund; past performance is not indicative of future results

23. CASE STUDY: HOSPITALITY FUND I
• Encore partnered with an institutional investor to purchase 35 hotels, focused on Hilton
and Marriott brands
• The institutional investor committed $85 mm in a programmatic joint venture to further
expand Encore’s hospitality portfolio
• Over a 24 month period, Encore utilized $55 mm to re-capitalize and acquire a total of 35
hotels (3,840 guest rooms) in 13 states
• 33 hotels were affiliated with Hilton or Marriott, two of the most desired industry brands
• After evaluating asset and capital market conditions in 2007, Encore decided to cease new
purchases and package/sell the portfolio for a total of $393 mm
• Archon Group, a Goldman Sachs Company, bought 29 of the hotels for $315 mm, while six
hotels were sold separately to other buyers for $78 mm
23
ENCORE HOSPITALITY OVERVIEW
$393 MM ACQUISITION & SALE OF 35 HOTEL PORTFOLIO – 13 STATES
Total Capitalization $248 mm
Total Invested Equity $70 mm
LTV 72%
Total Exit Value $393 mm
Total Profit $183 mm
Equity IRR 45%
Equity Multiple 3.6x
Average Hold Period 3.7 years
TRANSACTION OVERVIEW FINANCIAL HIGHLIGHTS
Fairfield Inn & Suites – Gulfport, MSHampton Inn Atlanta Airport – Atlanta, GACourtyard Marriott – Beaumont, TX
(1) Equity IRR represents the combined IRRs of all 35 properties in the portfolio; past performance is not indicative of future results

24. CASE STUDY: HOSPITALITY FUND I
24
ENCORE HOSPITALITY OVERVIEW
$393 MM ACQUISITION & SALE OF 35 HOTEL PORTFOLIO – 13 STATES
Value-Add Approach
Margin Improvement
Strategy
Operational
Excellence
Impeccable Market
Timing
• Nine of the hotels received ~$5,000 per room of capital improvements in 2004, with five of those hotels receiving an
additional $5,300 per room of renovations in 2005 and 2006
• The remaining hotels were renovated in 2006 at $4,800 per key
• Focus on refining operating standards, policy and procedure implementation, and regional management stewardship
while integrating technological and operating systems
• NOI increased by over 35% in 2006 despite disruptions in renovation that occurred at 29 of the hotels throughout
the year
• After evaluating asset and capital market conditions in 2007, Encore decided to sell the hotel portfolio immediately
before the economic downturn resulting in $183 mm profit and a 3.6x equity multiple
THE ENCORE EDGE
INVESTMENT THESIS
• Opportunity to expand the existing hotel portfolio into attractive markets
• Geographically diversified with desirably tiered select-service hotels that demonstrated strong and increasing
cash flow, offering lower risk/higher yield prospects
• Homogenous collection of select-service and extended-stay assets with tiered brand stratification
• Tiered brand stratification allowed Encore the ability to take advantage of high profit margins and consistent
demand associated with select-service properties

25. CASE STUDY: HILTON COLLEGE STATION
25
ENCORE HOSPITALITY OVERVIEW
$46 MM HOSPITALITYACQUISITION & SALE – COLLEGE STATION,TX
Underwriting Actual
Hold Period 5 years 4.1 years
Equity IRR 32% 37%
Equity Multiple 3.3x 3.1x
Asset Full-service hotel on 7.02 acres with 303 rooms and
over 25,000 square feet of meeting space
Flag Hilton
Year Built 1985
Date Acquired / Sold September 2010 / October 2014
Total Capitalization $32.7 mm, $7.2 mm invested equity
Acquisition Cap Rate 9.8%
LTV 59.6%
Total (in mm) Per Key
Purchase Price $26.0 $85,809
Renovation
Cost (“PIP”)
$4.5 $14,851
Total Acq.
Cost
$32.7 $107,921
Exit Value $46.0 $151,815
Delta $13.3 $43,894
• Identified asset from an institutional owner in an off-market transaction at an
attractive entry price (approx. 50% to 55% of replacement cost)
• Recognized strong demand drivers such as proximity to Texas A&M University
(2nd largest public university in the U.S.(1)) and limited competition being the only
convention center hotel in the city
• Improved operations through implementing new policies and procedures and
integrating Hilton onto Encore’s proprietary IT platform
TRANSACTION OVERVIEW
THE ENCORE EDGE
FINANCIAL HIGHLIGHTS
(1) Source: https://en.wikipedia.org/wiki/List_of_United_States_university_campuses_by_enrollment

26. ENCORE ENTERPRISES OVERVIEW
26

27. COMPANY SNAPSHOT
ENCORE ENTERPRISES OVERVIEW
$440
Million
Assets Under
Development
$1.1
Billion
Assets Under
Management
$2.5
Billion
Total
Transactions Since
Inception
1,300+
Employees
$21.4
$23.4
$53.8
$58.3
$60.9
$87.8
$227.1
$275.5
$90.9
$101.8
$121.4
$229.3
$321.9
$356.5
$350.5
$589.2
$850.6
$1015.9
$1094.6
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
YTD
Assets Under Management (in MMs)
GROWTHTHROUGH ALL MARKET CYCLES
Note: As of May 31, 2017 27

28. ENCORE’S DNA
ENCORE ENTERPRISES OVERVIEW
SeekOpportunityAcross the Cycle
• Experienced management team and sound investment philosophy allow Encore to
develop a strongly held viewpoint on where and how to access value
Unwavering Focus on Capital Preservation
• Investment decisions are made with the primary focus on structuring for safety
• Sponsor is in first loss position
Elimination of Unsystematic Risk by Diversification
• As one sector nears its peak in the market cycle or moves out-of-favor, Encore can
direct capital and resources to another sector with a more bullish trajectory
Entrepreneurial, but Patient
• Correctly incentivized through performance
• Encore is positioned to capitalize on market gyrations as it has no requirements to
acquire and/or monetize assets under pressure
Pinnacle Tower, Encore Headquarters – Dallas, TX
Acquired January 2016 28

29. THETEAM
ENCORE ENTERPRISES OVERVIEW
SENIOR MANAGEMENT
SHARED SERVICES
Construction Legal Finance HREquities TechnologyMarketing Accounting Administration
Note: Management bios included in the appendix
29
Encore Hospitality, LLC
Glenn Pedersen
Hospitality
President
James Franks
Vice President of
Operations
Damon Kearney
Director of
Engineering
Patrick J. Barber
President & CEO
Dr. Bharat H. Sangani
Founder & Chairman
Yatin Gandhi
Sr. VP of Finance,
Tax/Risk
Management
Charles A. Omage
Executive VP &
General Counsel
Nicholas K. Barber
President, Encore
Commercial
Dwayne Rash
President
Charles A.
Omage
Executive VP &
General Counsel
Will Flaa
Sr. VP,
Investment
Officer
Shelley Walker
HR & Payroll
Manager
Will Flaa
Sr. VP,
Investment
Officer
Shalin Shah
Director of IT
Amy Dunaway
Director of
Marketing
Yatin Gandhi
Sr. VP of Finance,
Tax/Risk
Management
Terri Smith
Office Manager

30. INSTITUTIONAL CAPITAL PARTNERS
ENCORE ENTERPRISES OVERVIEW
A Berkshire Hathaway Company
30

31. TEAM BIOS
31

32. SENIOR MANAGEMENTTEAM
32
TEAM BIOS
Dr. Bharat H. Sangani, Founder and Chairman
Charles A. Omage joined Encore Enterprises, Inc. in 2013 as Executive Vice President and General Counsel. Mr.
Omage is responsible for all facets of Encore’s legal operations. On a day-to-day basis, he provides legal counsel to
each of Encore’s divisions and analyzes various projects submitted for approval to the investment committee and
board of directors. Before joining Encore, Mr. Omage was a partner of a large southeastern regional firm, where he
served as Encore’s primary external counsel, and assisted Encore with closing various types of complex real estate
transactions for over 15 years. Prior to that, Mr. Omage worked as an associate in a large New York firm, where his
practice included the representation of commercial real estate developers and investors in the acquisition,
financing, development, and leasing of commercial office, retail, multi-family, hotel, and industrial properties. Mr.
Omage holds a J.D. from Hofstra University School of Law, and a B.S. in Finance from Boston College.
Patrick J. Barber, President and CEO
Charles A. Omage, ExecutiveVice President and GeneralCounsel
Patrick Barber is the president and CEO of Encore Enterprises, Inc. He is a results-oriented, commercial real estate
development professional who has successfully developed and financed over $5 billion in real estate over the past
36 years. Under his leadership over the past decade, Encore acquired more than $1.9 billion in properties, and
developed and re-developed over 80 hospitality, multi-family, and retail properties. During his career, Mr. Barber
has been involved in a large spectrum of development projects, including office, industrial, hotel, retail, senior
housing, multi-family, and raw land developments. Mr. Barber holds degrees in architecture and business finance
from Louisiana State University.
Dr. Bharat Sangani founded Encore Enterprises, Inc. with a team of experienced, results-oriented, and forward-
thinking individuals with a proven record of 20+ years of real estate development projects throughout the U.S. In
1999, Dr. Sangani created a holding company, Encore Enterprises, Inc., with Patrick Barber to bring all the
companies together and strengthen the overall leadership and key management team. Dr. Sangani’s core personal
values of honesty, integrity, and fairness are the guiding principles for Encore Enterprises and each of its
subsidiaries. He is involved in every aspect of the business, from operations to financial management. Dr. Sangani
is a practicing cardiologist, a Fellow of the American College of Cardiology and the American College of Chest
Physicians, as well as a member of nine other organizations in the United States, England, and India.

33. SENIOR MANAGEMENTTEAM
33
TEAM BIOS
Yatin Gandhi, SeniorVice President of Finance,Tax/Risk Management
Nicholas Barber has been with Encore for 16 years and is the President of Encore Commercial. In this role, he
focuses on continuing the company’s management philosophies to lead a dynamic portfolio growth strategy of
developing and acquiring profitable retail and office properties. His experience in closing complex real estate
transactions with Encore provides an added advantage in determining the proper deal structure and analyzing
financing options that are available in the marketplace. Since joining Encore, Mr. Barber has successfully closed
over $1.6 billion of real estate underwriting, negotiating, financing, and development transactions. Mr. Barber
holds a Bachelor of Science in Accounting from the University of Louisiana.
Will Flaa, SeniorVice President, Investment Officer
Nicholas Barber, Commercial President
Will Flaa has over 30 years of experience in real estate including valuation, analysis and research, and mortgage
capital analysis. At Encore, he directs the day-to-day operations of the research and underwriting team, leads debt
placement, and manages the institutional and high net worth capital fundraising division. Previously, Mr. Flaa
served as Managing Director for Cantor Commercial Real Estate (CCRE) and Regional Director for Goldman Sachs
Commercial Mortgage Capital, L.P. (GSCMC), in Dallas, Texas. Mr. Flaa is a graduate of the University of North
Texas receiving degrees in Finance and Real Estate. Mr. Flaa is affiliated and/or a member of the following
organizations: International Council of Shopping Centers (ICSC), the Mortgage Bankers Association of America
(MBA), the North Texas Real Estate Council, and The Appraisal Institute (MAI).
Yatin Gandhi joined Encore in 2004 as a Senior Accountant and has quickly become a key member of the executive
management team. As a Senior Vice President – Finance, Tax and Risk management, he brings with him 18 years
of experience with a strong background in the financial management and risk management functions of multiple
real estate asset classes. Mr. Gandhi has overseen the management of portfolios in excess of $1 billion. Prior to
Encore, Mr. Gandhi began his career as an audit associate working for Lovelock and Lewes (PWC). He also served
various clients in developing their internal control systems and guiding the clients in the area of investment and tax
planning. Mr. Gandhi has a Bachelor of Business Administration from Mumbai University in India. He is a Certified
Public Accountant and a Chartered Accountant. He is a member of Financial Executives International.

34. HOSPITALITY MANAGEMENTTEAM
34
TEAM BIOS
Glenn Pedersen, Hospitality President
Damon Kearney has been involved in the hotel industry for over 32 years. Throughout his career, Mr. Kearney has
worked with Marriott, Hilton, Holiday Inn, Best Western, LaQuinta and casino hotels. Mr. Kearney came onboard
with Encore Hospitality in 2006 as a Project Manager. In September 2007, Mr. Kearney was promoted to Corporate
Director of Engineering for Pineapple Management Services. He is responsible for all engineering aspects of every
Encore hotel located throughout the United States. Mr. Kearney also oversees all renovations and new builds of
hotels, quality assurance inspections, life/safety inspections, and continues to share his operational expertise with
all hotel departments.
James Franks,Vice President of Operations
Damon Kearney, Director of Engineering
James Franks joined Encore Hospitality as Vice President of Operations in October of 2014. Mr. Franks has been
involved in the hospitality industry for over 23 years. His responsibilities are to oversee all aspects of hotel
operations including budgets, P&L, guest and employee satisfaction, capital planning, and business strategies.
After graduating from California State University at Long Beach with a BS in Finance, Mr. Franks was promoted to
Front Office Manager at the Residence Inn, Placentia. After two successful years in this position, Mr. Franks
transitioned to the Full-Service Marriott as an Assistant Controller, which began what would be another 15 years in
the finance and accounting discipline of hospitality.
Glenn Pedersen has over 40 years of hotel industry experience. He is experienced with multiple national flags
including Hilton, Marriott, IHC, Radisson, and Best Western. Mr. Pedersen worked for Marriott International for 14
years. As regional manager of the Courtyard/Fairfield Inn division in Georgia and Alabama, Mr. Pedersen achieved
the highest market share and yield goals in the Southeastern United States, and was one of four managers to
qualify for the Courtyard Division Achievement Forum recognition program seven years in a row. In 1994, Mr.
Pedersen left Marriott International and started Pineapple Management Services where he developed, built, and
opened 20 Marriott hotels in three-and-a-half years. Encore Enterprises acquired Pineapple Management Services
and 11 accompanying hotels in December 2001.

35. CONSTRUCTION MANAGEMENTTEAM
35
TEAM BIOS
Dwayne Rash, President, Encore Construction
Guy Gordon, Vice President of Pre-Construction
Guy Gordon is the VP for pre-construction for Encore Enterprises. Mr. Gordon’s experience spans more than 30
years of pre-construction and construction projects throughout the United States. He has been involved in the pre-
construction and construction phase of many types of projects including health care, aviation, travel plazas for
several Native American tribes, hospitality/gaming, retail, manufacturing, retirement centers, sports venues,
medical centers, and Energy Assessment of existing buildings. His experience in all aspects of construction is a
vital asset in preparing a realistic and accurate estimate.
Dwayne Rash oversees all construction management for Encore. Mr. Rash has over 22 years of commercial and
industrial construction experience. He is a licensed general contractor in all states where Encore currently conducts
business. Mr. Rash is an experienced construction professional who has supervised the construction of over 10
million square feet of commercial and industrial projects including hotels, office buildings, electronics and
semiconductor plants, telecommunications facilities, and distribution centers. He has served in the capacities of
field superintendent, resident manager, construction manager, and vice president of construction operations and
has successfully managed budgets for projects ranging from under $1 million to $200 million. Mr. Rash majored in
business administration at Louisiana State University. He has also taken specialized courses in construction
estimating, industrial management, and OSHA certification.

36. 36
The information contained in this document is for informational purposes only and is not an offer to sell or a solicitation of any offer to buy any securities. Securities
will only be offered through confidential offering materials delivered to suitable, accredited investors and will be offered and sold pursuant to an exemption from
registration under the Securities Act only to persons who are accredited investors within Rule 501(a) promulgated under the Securities Act. These offering materials
will contain information regarding risk factors, conflicts of interest, material investment considerations and other important information about such offering and
should be read carefully. Neither the Securities and Exchange Commission nor any state securities regulatory authority has passed on or endorsed the merits of such
offering. The information contained in this document is not intended to and does not constitute investment, legal or tax advice. Any investment in securities involves
a high degree of risk and is not suitable for all investors. The information contained in this document is provided “as is,” without warranty of any kind. Past
performance is not indicative of future result. No representation is made that any investment will or is likely to achieve profits or losses indicated herein or achieve
profits or losses similar to those achieved in the past or that losses will be avoided. Certain information contained in this document may contain forward looking
statements, which can be identified by the use of forward looking terminology such as “may,” “will”, “should,” “expect,” “project,” “intend,” “plan” or “ believe” or
similar terms. Forward looking statements are based on certain assumptions, are subject to risks and uncertainties and speak only as of the date on which they are
made.
The information contained in this document is confidential and intended solely for the recipient. By acceptance of this document, you (i) agree to keep the contents of
this document confidential, and (ii) agree to be liable for any unauthorized disclosure of the information contained in this document. If you have received this
document in error, any use, reproduction or dissemination of this document is strictly prohibited. Without the prior written consent of Encore Hospitality, LLC, you
shall not disclose to any third party the information contained in this document, except to the extent you may make such disclosure if compelled by court order or to
comply with the requirements of any law, governmental order, or regulation. Upon request by Encore Hospitality, LLC, you shall destroy all copies or translations of
this document in your possession. Money damages would not be a sufficient remedy for any breach of this confidentiality provision, and, in addition to any and all
other remedies, specific performance and injunctive or other equitable relief are available remedies for any breach of this confidentiality provision. Private security
transactions involve a high degree of risk and are not suitable for all investors. They are illiquid, may have a long hold period, and may result in the loss of invested
principal. Real estate involves a significant degree of risks, including vacancy risk, development risk, and competition risk; please review the private placement
memorandum before making an investment decision. The offering contains risk and positive outcomes are not assured.
Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC and NMS Capital Advisors, LLC, Member FINRA/SIPC.
© 2017 ENCORE ENTERPRISES, INC.