EASTMAN BUSINESS PARK ROCHESTER NY BUSINESS CASE The

EASTMAN BUSINESS PARK ROCHESTER, NY BUSINESS CASE The Eastman Business Park in Rochester, New York: An optimal location for downstream chemicals manufacturing May 2017

Table of Contents page 03 05 12 Executive Summary Industry Overview Critical Industry Siting Criteria and EBP/Region’s Position page 19 41 46 EBP/Region’s Assets & Opportunities EBP/Region’s Challenges Company Identification | 2

Downstream Chemicals Executive Summary Processed chemical products; personal care and cleaning products, ; dye, pigments, and coatings; and lubricants and greases are the industry subclusters for which the EBP is best positioned. The downstream chemical manufacturing industry cluster is a growing industry. This cluster has had solid growth in recent years in value added, and CAPEX. The industry is also expected to continue growing its revenue at a rate of 4% - 5% within the next five years. The Eastman Business Park (EBP) and the Rochester, NY Economic Area, where the Park is located, are very well positioned to attract companies from this industry cluster. Processed chemical products and personal care and cleaning products are the top employment sub-clusters in the Rochester, NY economic area within the downstream chemical manufacturing industry cluster. these are also sub-clusters where the region has high employment specialization. These two sectors have experienced growth nationally in recent years in value of shipments and receipts, value added, and CAPEX. Although dye, pigments and coating also grew along these three criteria factors, its significance in terms of employment and specialization for the Rochester, NY Economic Area is very low. However, given its recent past and future expected growth, and the trend towards more watersoluble paints that can leverage the EBP’s ample water capacity, this subcluster is worth considering. It is possible to assume that the Region’s specialization and capabilities in processed chemicals and personal care and cleaning products can be easily transferred to this segment. With the U. S. as one of the leading producers of these three industry subclusters, the potential for expansion of these segments in the country are very positive. Additionally, although growth in recent years has not been positive for the lubricating oils and greases in terms of total value of shipments and receipts, and value added, expectations for future growth for this industry sub-cluster are very good. This fact, coupled with the potential to leverage the EBP’s water and wastewater resources, in addition to the specialty chemicals and solvent recovery capabilities, make it an important one to consider. The EBP and the Region offer numerous assets and opportunities around critical site selection criteria such as transportation infrastructure, utilities, real estate product offer, workforce, and operation cost location drivers, that make the Park and Rochester an optimal location for downstream chemicals manufacturing. | 3

Downstream Chemicals Executive Summary The EBP and the Region offer numerous assets and opportunities around critical site selection criteria such as transportation infrastructure, utilities, real estate product offer, workforce, and operation cost location drivers, that make the Park and Rochester an optimal location for downstream chemical manufacturing. These are the main reasons why the EBP and the Rochester, NY Economic Area are optimal locations for downstream chemical manufacturing: • Transportation infrastructure: o 17 miles of rail track within the Park, plus two accumulation yards with capacity for delivery and storage of 100 railcars daily o 2 -5 minutes from interstate highway system • Market opportunity: o Within 400 miles of an 86. 6 -million-people market, ~25% of U. S. and Canadian populations • Utility infrastructure: o Electricity: 117 MW power plant plus 41 MW interconnection with RG&E o Water: Permitted to up to 54 MGD from Lake Ontario, and with own industrial water treatment plant o Natural gas: ~2, 400 Dekatherms/hour, with ~1, 100 – 1, 200 Dekatherms/hour peak capacity o Steam: 1. 5 M lbs. /hour installed capacity, plus 200 K lbs. / hour backup capacity. Different nominal pressure levels, from 260 psig. to down to 5 psig. o Wastewater: 36 MGD wastewater treatment facility on-site with Title V / RCRA permitted multiple hearth incinerator • Real estate product: o Several site and building options, ranging from ~1 to up to ~75 acres, and ~46 K sq. ft. to up to ~1 M sq. ft. • Workforce: • ~550 K labor pool in a 60 -minute commute • 3, 405 workers in the Downstream Chemicals industry alone, with high specialization • Operation cost location drivers: o RED-Rochester LLC is owner and exclusive utility provider at the EBP, focused on optimizing costs and services | 4

Industry Overview

Downstream Chemicals Industry Overview Dyes, Pigments & Coating Processed Chemical Products Downstream chemical manufacturing is comprised of 5 industry segments. Downstream Chemicals Personal Care & Cleaning Products *Includes upstream and downstream chemicals. Soaps & Other Detergents Lubricating Oils & Greases | 6

Downstream Chemicals Industry Overview Chemicals Products Intermediate, and specialty chemicals Personal Care Products Toiletries and grooming products Soap and detergent products Customers Large variety of customers in Department stores, mass market the industrial, agricultural, retailers, direct sales, specialty construction, textile, health retailers, and professional hair care, and consumer products and beauty salons. sectors. Sales are seasonal: they're higher Financials Specialty chemicals are generally more profitable in the first half of the year as than commodity chemicals, retailers buy products in advance prompting many companies of the fall makeup introductions to develop specialty and holiday selling period. products. More than $5 trillion in Revenue of about $260 billion World annual revenue. China, the per year, according to the Market US, Japan, and Germany Personal Care Products Council. produce the most chemicals China and India are among the and also are among the fastest-growing markets for largest importers of personal care products. chemicals. China, India, and other emerging markets are being targeted for growth. * U. S. Market Includes about 10, 000 companies with combined annual revenue of about $795 billion. Soap & Other Detergents Supermarket chains, mass merchandisers, drugstores, and warehouse clubs. Paint & Coatings Paints, varnishes, lacquers, enamels, and other coatings Retailers of consumer paints and OEMs like the big car companies. Petroleum Lubricating Oil & Greases Automotive lubricants, industrial lubricants, and greases Retailers, wholesalers, and industrial endusers; some refinery operators provide products to their own gas stations. Cash flow is generally even throughout the year. Revenue may be Cash flow for the industry tends to be seasonal, because seasonal. home painting and car manufacturing are seasonal. Leading soap exporters include China, Germany, Malaysia, the UK, and the US. The US is the top importer of soap products, followed by the UK and Canada. But the Asia/Pacific region, particularly China and India, holds the greatest potential for growth. ~$150 billion in annual revenue. ** The top paint and coating producing countries include the US, China, Germany, Japan, and the Netherlands. Includes about 850 companies Includes about 650 establishments with combined annual revenue of (single-location companies and about $42 billion. units of multi-location companies) with combined annual revenue of about $25 billion. *Includes upstream and downstream chemicals. **World Paint & Coatings Industry Association Includes about 950 companies with combined annual revenue of about $28 billion. Projected to reach 12. 4 billion gallons by 2020, driven by the rise in vehicle ownership rates in developing countries. Resurgence in manufacturing PMI and the resulting expansion in production capacities will help drive growth in the industrial lubricants market. Asia-Pacific represents the largest and fastest growing market with volume sales projected to grow at a CAGR of 5% over the next 3 years. Includes about 320 companies*. | 7

Downstream Chemicals Market Outlook Revenue Growth Forecast 2017 – 2021* • Growth Rating Trends Overall, the downstream chemical industry cluster presents very good prospects for growth across all five industry segments. Chemicals Personal Care Products Soap & Other Detergents Paint & Coatings 4% 5% 5% 5% Growth rating: Medium • Demand is driven by overall economic health • There are economies of scale for larger producers • Risk: Higher raw material costs • Chemical Security • Environmentalism • Globalization • • Growth rating: Medium Demand is tied to consumer spending and leisure • Needs good marketing and favorable productions • Risk: Private and public funding cuts and competition for talent • Growth of Cosmeceuticals • Export Growth • Internet Sales • Consumers Expect Discounts • • Petroleum Lubricating Oil & Greases Expected to reach USD 68. 54 billion by 2022. ** Growth rating: Medium • Demand is driven by population growth and • demographics Economies of scale favor larger companies • Risk: Volatile demand reliance on large • retailers • Increasing Productivity • Growth in Private-Label Products • Sales Outside the US • FDA Regulation of Antibacterial Soaps Growth rating: • Growth rating: High Medium • Industrial lubricants is the fastest growing segment, at Demand is tied to 3. 4% compound annual growth rate (CAGR) manufacturing and • Demand for industrial lubricants is driven by strong housing consumption of industrial engine and process oils Needs strong • Needs efficient operations technical expertise • Risk: fluctuations in raw material costs Risk: Fluctuations in product demand material costs • Concentration in • Stable automobile production drives market growth Specific End-Use • Rapid industrialization spurs growth in developing Markets countries • Demand for Water • Modernization of industrial machinery: A key growth Soluble Paint driver • Spray Paint Sales • Wind turbine applications fuel sales of low viscosity • Expanded Plastics Use lubricating oils in Autos Drives • Expanding use of industrial gases in mining activities Innovations benefits growth • Demand for low viscosity fluids in automotive industry extends market opportunities *Annual compounded rate, between 2017 and 2021, based on changes in physical volume and unit prices. **According to a new study by Grand View Research, Inc | 8

Downstream Chemicals Market Outlook The downstream chemical industry cluster has experienced higher growth in total value and shipments and value added than the average for all manufacturing in the U. S. However, growth in CAPEX in this industry cluster has been lower than the all-manufacturing average, and employment has decreased at a higher rate. U. S. Market Growth 2012 – 2015 Downstream Chemicals Employment Total Value of Shipments & Receipts Value Added CAPEX -3. 4% 0. 4% 10. 4% 3. 9% -2. 6% 5. 6% 6. 4% Vs. All Manufacturing -0. 4% | 9

Downstream Chemicals Regional Overview Rochester-Batavia-Seneca Falls, NY Downstream Chemical Products Cluster Employment by Subcluster, 2014** Rank in U. S. (Out of 179 Economic Areas) Processed Chemical Products 10 Personal Care and Cleaning Products 39 Lubricating Oils and Greases 33 Dyes, Pigments and Coating 139 Processed chemical products and personal care and cleaning products are the top employment sub-clusters in the Rochester, NY economic area within the downstream chemical manufacturing industry cluster. these are also sub-clusters where the region has high employment specialization*. These two sectors have experienced growth nationally between 2012 and 2015 in value of shipments and receipts, value added, and CAPEX. Although dye, pigments and coating also grew along these three criteria factors, its significance in terms of employment and specialization for the Rochester, NY Economic Area is very low. However, given its recent past and future expected growth, and the trend towards more water-soluble paints that can leverage the EBP’s ample water capacity, this subcluster is worth considering. It is possible to assume that the Region’s specialization and capabilities in processed chemicals and personal care and cleaning products can be easily transferred to this segment. With the U. S. as one of the leading producers among these three industry subclusters the potential for expansion of these segments in the country are very positive. Additionally, although growth in recent years has not been positive for the lubricating oils and greases in terms of total value of shipments and receipts, and value added, expectations for future growth for this industry sub-cluster are very good. This fact, coupled with the potential to leverage the EBP’s water and wastewater resources, in addition to the specialty chemicals and solvent recovery capabilities, make it an important one to consider. No specialization exists whatsoever in the Region within the explosives industry subcluster. Subcluster Dyes, Pigments and Coating Highlighting indicates a Strong Subcluster in the region. A strong cluster is a cluster that has high employment specialization in a region. Explosives 0 2000 Employment, 2014 4000 U. S. Market Growth*** 2012 - 2015 Total Value of Employees Shipments and Value added CAPEX Receipts -2. 3% 4. 3% 3. 3% 0. 6% Explosives 0. 3% 5. 2% 19. 1% -48. 8% Lubricating Oils and Greases Personal Care and Cleaning Products Processed Chemical Products 0. 5% -15. 7% -4. 2% 0. 6% -4. 6% 2. 4% 14. 0% 4. 2% -3. 6% 0. 7% 11. 5% 7. 8% *Economic Areas with High Employment Specialization in a cluster meet these criteria: a) Location Quotient of Cluster Employment must be greater than the 75 th percentile when measured across all Economic areas; b) To differentiate marginal cases, Location Quotient of Cluster Employment must be greater than 1. 0, Share of National Cluster Employment greater than the 25 th percentile, and Share of National Cluster Establishments greater than the 25 th percentile. **U. S. Cluster Mapping (http: //clustermapping. us), Institute for Strategy and Competitiveness, Harvard Business School. Copyright © 2014 President and Fellows of Harvard College. All rights reserved. Research funded in part by the U. S. Department of Commerce, Economic Development Administration. ***U. S. Census Bureau’s Annual Survey of Manufactures (ASM) | 10

Downstream Chemicals Regional Overview Sub-Clusters Rochester has strong specialization and share in processed chemicals; also strong specialization in personal care & cleaning products. *** Cluster Processed Chemicals 10 U. S. Rank* 6. 0 LQ** Personal Care & Cleaning 39 U. S. Rank* 1. 55 LQ** 2. 76 Downstream Chemicals Location Quotient High Employment Specialization Lubricants & Greases 33 U. S. Rank* 2. 0 LQ** Dyes, Pigments & Coatings 139 U. S. Rank* 0. 04 LQ** Employment: 3, 405 Rank in the U. S. : 25* Average Wages for Top Strong Specialization Industry Subclusters • • Processed Chemicals: $67, 260 Personal Care & Cleaning: $54, 432 Dyes, Pigments & Coating: $56, 422 Lubricants & Greases: $49, 396 New York State**** Vs. • • Processed Chemicals: $61, 133 Personal Care & Cleaning: $58, 871 Dyes, Pigments & Coating: $64, 861 Lubricants & Greases: $75, 819 National *Out of 179 economic areas in the U. S. **LQ = Location Quotient ***Economic Areas with High Employment Specialization in a cluster meet these criteria: a) Location Quotient of Cluster Employment must be greater than the 75 th percentile when measured across all Economic areas; b) To differentiate marginal cases, Location Quotient of Cluster Employment must be greater than 1. 0, Share of National Cluster Employment greater than the 25 th percentile, and Share of National Cluster Establishments greater than the 25 th percentile. ****Wage information not available for the Rochester, NY Economic Area. State-wide information use instead. Source: U. S. Cluster Mapping (http: //clustermapping. us), Institute for Strategy and Competitiveness, Harvard Business School. Copyright © 2014 President and Fellows of Harvard College. All rights reserved. Research funded in part by the U. S. Department of Commerce, Economic Development Administration. | 11

Critical Industry Siting Criteria and EBP/Region’s Position

Downstream Chemicals Industry Needs Transportation infrastructure Utilities Main site selection criteria for industrial capital investment projects is mainly based on six factors: transportation infrastructure, utilities, real estate product, workforce, operation cost location drivers, and environmental and permitting requirements. Site/building size Workforce Operation cost location drivers Environmental & permitting | 13

Downstream Chemicals Industry Needs & EBP/Region’s Position Transportation EBP Meets Criteria? May require rail 17 miles of rail track within the Park, plus two accumulation yards with capacity for delivery and storage of 100 railcars daily Requires proximity to interstate for logistics and distribution 2 -5 minutes from interstate highway system Requires proximity to interstate or highway network for employment 2 -5 minutes from interstate highway system May require proximity to port for logistics Closest deep water port is the Port of Oswego about 71. 5 miles, or 1 hr. 27 mins away from the park. May requires close proximity to raw material The industrial corridors of the Northeastern US provide ready access to raw materials | 14

Downstream Chemicals Industry Needs & EBP/Region’s Position Utilities EBP Meets Criteria? High electricity demand 117 MW power plant plus 41 MW interconnection with RG&E High water demand Permitted to up to 54 MGD from Lake Ontario. Own industrial water treatment plant Moderate natural gas demand ~2, 400 Dekatherms/hour, with ~1, 100 – 1, 200 Dekatherms/hour peak capacity High steam demand 1. 5 M lbs. /hour installed capacity, plus 200 K lbs. / hour backup capacity. Different nominal pressure levels, from 260 psig. to down to 5 psig. High wastewater output 36 MGD wastewater treatment facility on-site with Title V / RCRA permitted multiple hearth incinerator | 15

Downstream Chemicals Industry Needs & EBP/Region’s Position Site Size Low facility and equipment requirements. Small footprint. Workforce EBP Meets Criteria? Several site and building options, ranging from ~1 to up to ~75 acres, and ~46 K sq. ft. to up to ~1 M sq. ft. EBP Meets Criteria? Moderate total employment ~550 K labor pool in a 60 minute commute High demand for specific skills 3, 405 workers in the Downstream Chemicals industry alone, with high specialization | 16

Downstream Chemicals Industry Needs & EBP/Region’s Position Operating Costs Location Drivers EBP Meets Criteria? Raw materials, significant Access to raw materials is demonstrated by the heavy industrial development present at the EBP park and the logistics infrastructure located there as well. Utility costs, secondary RED-Rochester LLC is owner and exclusive utility provider at the EBP, focused on optimizing costs and services Logistics, primary Excellent highway, rail, and airport interconnectivity for transport Labor, low *United States Department of Agriculture, USDA New York State has a wage advantage over the rest of the country for the dye, pigments, and coating; personal care & cleaning; and lubricating oils & greases subclusters. Although average wage in the processed chemical subcluster is higher than the rest of the country, the high specialization and share that the Rochester, NY Economic Area has in this industry segment supports the higher wage. | 17

Downstream Chemicals Industry Needs & EBP/Region’s Position Environmental/Permitting EBP Meets Criteria? Air permitting demands depend on size and type of operation. May need Title V TBD, based on specific project needs Other requirements: US regulations governing chemical safety and security are extensive and are largely managed by the Occupational Safety and Health Administration (OSHA) and the Department of Homeland Security (DHS). OSHA's Hazard Communications Standard (HCS) requires chemical companies to share information about chemical and toxic substance hazards to workers and customers. The DHS oversees Chemical Facility Anti-Terrorism Standards (CFATS), which require chemical companies to prepare security vulnerability assessments and develop site security plans. TBD, based on specific project needs | 18

EBP/Region’s Assets & Opportunities

EBP & Regional Assets & Opportunities Workforce & Workforce Development Resources Business Environment & Quality of Life Utility Infrastructure Industrial Real Estate Product Environmental, Permitting & Zoning Shared Services & Business Support Ownership & Site Control Highway, Rail, Intermodal & Airport Connectivity Market Potential Emergency Protective Services Synergies Business Incentives | 20

EBP & Regional Assets & Opportunities Ownership Some parcel options are available for sale or lease and some are only available for lease. Buildings may be sold anywhere in the Park. 700 acres, 58% of the total acreage at the Park is owned by Kodak. The remaining 500 acres, 42% of the total, are owned by Li. Destri Food and Drink, and Acquest Development. Li. Destri is a premier private label and contract manufacturer of food, beverages and spirits. Acquest Development specializes in the acquisition, development, construction and management of a variety of industrial and commercial properties. Ownership is committed and invested in the Park’s and Region’s growth and development. Furthermore, RED-Rochester, LLC that owns and operates the utilities at the Park, is fully committed to the Park’s and the area’s success, as well as to optimizing utilities infrastructure and the tenants’ operations. The Eastman Business Park and RED are motivated to the development of the Park pursuing new investors that are significant utility users and economic development engines. New tenants to the park will not have to deal with multiple landowners and can expect a streamlined acquisition process, saving both time and money. Real Estate Product & Ownership Real Estate Product The Eastman Business Park offers a 1, 200 -acre campus with 16 million sq. ft. in manufacturing, lab, warehouse & office space, and 400 acres ready for new build. These 400 acres are comprised of 18 parcels, ranging from ~1 to ~28 acres that available for lease and/or sale. Some parcels can be amalgamated to form 55 – 65 -acre sites in the northeast section, and 40 – 50 -acre sites in the northwest. The largest contiguous property is ~75 acres. | 21

EBP & Regional Assets & Opportunities Wetlands No wetlands present at the Park. The Genesee River runs on the eastern boundary of the site, and Paddy Hill Creek on the western site boundary, but there are no wetlands within the Park’s boundaries. Floodplain The Park is not in the 100 -year flood plain. Wastewater RED’s wastewater treatment facility on-site with Title V / RCRA permitted multiple hearth incinerator and NPDES wastewater permit can be leveraged to allow for third party discharges to the industrial wastewater treatment plant without a separate permit. Industrial Water RED is permitted to up to 54 MGD from Lake Ontario. Tenants can leverage this permit for their industrial water needs. Environmental, Permitting & Zoning Environmental In comparison with other brownfield industrial parks, the EBP is in a very good position. The site is not a federal superfund site. All environmental issues have been very well characterized and remedial plans have been completed. Kodak and the State of New York have established a $99 Million dollar environmental trust to address the need to clean up legacy environmental liabilities to the extent they are encountered and to encourage companies to move into the park as both property lessees or owners. There aren’t any unknowns at the Park in terms of recognized environmental conditions. Additionally, PCB’s are not present. Kodak converted transformers to eliminate PCB’s from the buildings. | 22

EBP & Regional Assets & Opportunities Environmental, Permitting & Zoning EBP Zoning Map Zoning/Use Requirements EBPE is zoned PD#12. Permitted uses under PD#12 includes manufacturing activity. The EBP is split into five sections: East end (EBPE), central (EBPW), west central (EBPX), northwest (EBPM), and south (EBPS). EBPW and EBPX are zoned M-1. Manufacturing, high-tech or light industrial uses are permitted under zoning M-1. EBPE, EBPW, and EBPX fall under the jurisdiction of the City of Rochester. EBPM and EBPS fall under the jurisdiction of the Town of Greece. EBPM and EBPS are zoned Industrial General (IG). The GI zoning allows for general manufacture, assembly or processing activities. Current Park’s zoning allows for a broad spectrum of industrial operations. Manufacturing, high-tech or light industrial uses are permitted at the Park. Special permit is needed of uses which may be noxious or injurious due to production or emission of dust, smoke, odor, gases, fumes, solid or liquid waste, noise, light, vibration or nuclear or electromagnetic radiation or due to the likelihood of injury to persons or damage to property if an accident occurs. | 23

EBP & Regional Assets & Opportunities Transport Connectivity Road Access Rail Service 2 -5 minutes from interstate highway system: I 390 borders the Park to the West. I 490, 5 minutes to the East on NY 104. Easy access and little traffic or congestion to access both highways. There a number of roads with access to the Park. Currently entrance to the fenced portion of the Park is available during daytime hours in the East, along Eastman Avenue. On the West, access is available 365/24/7 on Latona Roads are permitted to handle heavy industrial traffic. Public transportation is available through Rochester Transit System (RTS), that provides service to Lake Avenue (Route 1) and West Ridge Road (Routes 14 and 106). 17 miles of rail track within the Park. Multiple buildings with direct rail service. Line easy to extend to other parts of the Park. Daily service. Connection to both CSX Transportation and G&W's Rochester & Southern Railroad (RSR), which connects to Norfolk Southern, Canadian National and Canadian Pacific. Air Transport Greater Rochester International Airport (ROC) is 9 miles away from the Park. There are 7 airline carriers serving ROC: Air. Canada, Allegiant, American, Delta, Jet. Blue, Southwest, and United. Ample rail car storage at the Park. Intermodal EBP has two accumulation yards with capacity for delivery and storage of 100 railcars daily. Rochester Switching Services, Inc. (RSS), formerly the Eastman Business Park Railroad, delivers an assortment of products – ranging from food and building products to plastics or metals – to a variety of manufacturing buildings and processes via sixteen miles of continuous track and two large inbound and outbound accumulation yards, operating 6 days per week, 52 weeks per year. Routing choices amongst all eastern “Class 1” railroads. | 24

EBP & Regional Assets & Opportunities Utilities Steam Robust utility infrastructure throughout. REDRochester LLC is owner and exclusive utility 1, 500, 000 pounds per hours installed capacity from utility-grade boilers, provider at the Eastman Business Park with an additional 200, 000 pounds per hour capacity from emergency backup boilers. Utility grade boiler firm capacity is 950, 000 - 1, 100, 000 pounds per hour. Approximately 300, 000 pounds per hour of available capacity. Generated at 1, 400 psig/900°F and supplied at different nominal pressure levels of 260 psig, 140 psig, 70 psig and 5 psig. Electricity 117 MW power plant producing electricity, steam & chilled water. In addition, RED has a 41 MW interconnection with RG&E. Firm capacity without the largest turbine generator in service is 133 MW. Generated at 13, 800 volts and distributed on a small grid with underground redundant feeds to double-ended load centers/substations for highest reliability and quality. Standard delivery is nominal 480 volts, 3 phase alternating current. Current Peak Loads are approximately 60 MW, leaving approximately 73 MW available capacity. Wastewater Industrial sewage treatment; hazardous waste permitted multiple hearth incinerator; and precious metals recovery capabilities. NPDES wastewater permit can be leveraged to allow for third party discharges to the industrial wastewater treatment plant without a separate permit. 36 MGD wastewater treatment facility on-site with Title V / RCRA permitted multiple hearth incinerator. The average flow is 8. 7 MGD, with a peak of 18. 1 MGD. Average available flow is approximately 18 MGD. | 25

EBP & Regional Assets & Opportunities Utilities Robust utility infrastructure throughout. REDRochester LLC is owner and exclusive utility provider at the Eastman Business Park Refrigeration & Water • Chilled water: 60, 000 tons installed capacity of tri-generation – nominal supply temperature 40°F. 9°F, -95°F Brine • Industrial water: RED is permitted to up to 54 MGD from Lake Ontario. There are three pipelines (24”, 30”, and 48”) that transport the lake water from RED’s pump house on Lake Ontario four miles south to Eastman Business Park. Current peak demand is approximately 17 MGD, the average is approximately 11 MGD. Approximately 37 MGD of available capacity. Average delivery pressure is approximately 80 psig. 3. 5 MM water reservoir under baseman of building 56. The other 12. 5 MM water reservoir is under a parking lot to the property on the west Northeast corner. Used for risk mitigation in case there are issues at Lake Station that impede them from supplying water to customers. Fire protection is supplied from the reservoir. • High-purity water: 300 gal/min firm capacity of reverse osmosis deionized water - minimum resistivity 2 megohms. Kodak uses it. Film sensitizing, R&D. RED trucks it to few places. Using only ¼ or less. • Demineralized water: Treated process water using anion and cation exchangers with maximum conductivity of 4 micromhos. Demineralized water for boiler use, but also provide to Kodak. | 26

EBP & Regional Assets & Opportunities EBP’s Existing Utility Assets Utilities Robust utility infrastructure throughout. REDRochester LLC is owner and exclusive utility provider at the Eastman Business Park Compressed Air Natural Gas 47, 000 standard cubic feet per minute installed capacity. Nominal gauge pressure of 75 psig and a maximum dew point of 55°F. Distributed to various customers within EBP by RED. Current line sizing depends on specific location within EBP. RED’s contract with supplier is non-interruptible. There are 2 – 8” – distribution lines coming into the site from the RF&E meter station. Currently there is a 625 Dekatherms/hour capacity and another 1800 is being added. Peak is currently 200 Dekatherms per hour. This will be approx. 1, 100 – 1, 200 Dekatherms per hour, post MACT upgrade. The total natural gas capacity will be approx. 2, 400 Dekatherms per hour, post MACT upgrade. Natural gas also used for internal operations. Nitrogen 148, 000 standard cubic feet per hour installed on-site plant capacity with equivalent capacity of backup liquid vaporizers. Minimum purity is 99. 999% with a nominal gauge pressure of 70 psig and a maximum dew point of -100°F. | 27

EBP & Regional Assets & Opportunities Downstream Chemicals 2. 76 Location Quotient High Employment Specialization Employment: 3, 405 Rank in the U. S. : 25* Workforce & Workforce Development Labor Pool The business park boasts a sizable labor force in the surrounding areas, with 544, 276 workers within a 60 -minute drive time of the park. Within a 30 -minute drive time, there approximately 43, 848 people working in the manufacturing industry alone. At the 45 -minute and 60 -minute drive times, the manufacturing workforce increases to 56, 559 and 68, 579, respectively. Workforce in the downstream chemicals manufacturing industry cluster amounts to 3, 405, exhibiting high specialization, with a 2. 76 location quotient, ranking # 25 in the U. S. out of 179 economic areas*. The top employment industry sub-cluster with high employment specialization and share in the region is processed chemicals. Personal care and cleaning products also has high employment specialization. *U. S. Cluster Mapping (http: //clustermapping. us), Institute for Strategy and Competitiveness, Harvard Business School. Copyright © 2014 President and Fellows of Harvard College. All rights reserved. Research funded in part by the U. S. Department of Commerce, Economic Development Administration. 2014 data. | 28

EBP & Regional Assets & Opportunities Educational Attainment* Population 25+ by Educational Attainment and Drive Time Total Less than 9 th Grade 9 th - 12 th Grade, No Diploma High School Graduate GED/Alternative Credential Some College, No Degree Associate Degree Bachelor's Degree Graduate/Professional Degree 30 Minutes 45 Minutes 60 Minutes 514, 006 3. 2% 6. 3% 20. 1% 4. 0% 17. 0% 12. 0% 20. 8% 16. 5% 631, 981 3. 1% 6. 2% 21. 3% 4. 3% 17. 3% 12. 2% 20. 1% 15. 5% 748, 988 3. 2% 6. 5% 22. 5% 4. 7% 17. 5% 12. 2% 18. 8% 14. 5% Workforce & Workforce Development Workforce Quality The region has highly-skilled and quality workforce with 68% of the population within a 60 -minute commute with some college education. Based on 2014 data from the US Department of Education, the Greater Rochester Area ranks at the top in terms of degrees per capita in STEM areas when compared against the 53 largest metros: 1 st in physical science, 1 st in mathematics, 3 rd in engineering and engineering technologies, 3 rd in biological and biomedical sciences, and 5 th in computer and information sciences and support services. This constitutes an opportunity for attracting high-tech and advanced manufacturing operations to the area. Based on the Rochester Business Alliance - RBA – Employer Survey from April 2016, from 1 to 5, with 1 being poor and 5 excellent, the Greater Rochester Area has an average score of 4. 1 in work ethics; 4. 2 in willingness to work overtime; 4 in productivity compared to that of company’s other sites; 4 in productivity; and 3. 8 in punctuality. The Rochester Chamber Annual Turnover/Absenteeism Survey from March 2016 reports a rate of 3. 3% or 8. 3 days in the manufacturing sector; 2. 5% or 6. 3 days in the service sector; and 2. 8% or 7. 1 days in all sectors. Additionally, due to legacy industries such as Kodak, Bausch & Lomb, and Xerox, there is a good labor pool in the chemicals, photonics, and food & agriculture sectors. *Source: U. S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021 Esri converted Census 2000 data into 2010 geography. | 29

EBP & Regional Assets & Opportunities Workforce Training Very strong University and college presence in the immediate area. Home to top-tier technical/engineering programs at Rochester Institute of Technology, University of Rochester and SUNY Brockport. Just hours away from renowned programs at Cornell University, SUNY Buffalo, Rensselaer Polytechnic Institute, Syracuse University and Alfred University. A total of 19 colleges and universities. 87, 500 enrolled students. 19, 000 diplomas annually. The area is 1 st for degrees in the physical sciences and mathematics fields; 2 nd for degrees in biological and life sciences fields; 3 rd for degrees in engineering and engineering-related fields; and 6 th in computing and information sciences. There also over 75 Vocational School, Trade School and Technical School programs and institutions in Rochester including - for manufacturing and technology training and certification - the Rochester Education Opportunity Center, Monroe Community College, Rochester Institute of Technology Adult & Continuing Education, the Rochester City School District Family Learning Center, Monroe #1 BOCES, and Edison Career and Technology High School. Certificate programs range from entry-level administrative career training to Lean Six Sigma to mechatronics engineering. Monroe Community College works with Workforce & Workforce Development manufacturers to provide tailored training to students. One such program example is the Optical Technology program at MCC, which trains students from high school through Associate's Degrees in the optics and photonics fields. Rochester Institute of Technology's Adult & Continuing Education programs also partner with companies to offer custom training and education in STEM processes, manufacturing, and offer talent acquisition services to companies. Additionally, Rochester. Works! serving Monroe County, offers free recruitment, training, and connectivity to job fairs and other programming for area companies. The organization also provides job candidates with connections to employers and new job openings, skills assessment and development programs, and referrals. Employers and employees at the Eastman Business Park have their own workforce training resources on-site via the Finger Lakes Workforce Development Center created in 2016 by the Monroe Community College (MCC) to offer manufacturing-oriented programs and skilled trades training within classroom and lab space. MCC offers professional development and training solutions for people, businesses and organizations throughout Monroe County and works with area manufacturers to develop custom training programs and degree tracks. | 30

EBP & Regional Assets & Opportunities Emergency Protective Services Emergency protective services These services are available onsite, with 24/7 site security and fire department with back-up by Town of Greece Police/Fire Departments and City of Rochester Police/Fire Departments. Onsite fire department services include emergency medical services for basic and advance life support; special chemical emergency response, morgan lens (eye care), and tox-medic; fire suppression with foam for firefighting and vapor control, fire alarm/maintenance, production support, and blood spill clean up; HAZMAT support for spill containment/cleanup, emergency mitigation, and monitoring; technical Rescue for confined space rescue and machine & vehicle extrication; HSES support for permits, consultation for inspection & permit services; after-hours roving monitoring; notification to federal, state, and local agencies as required of chemical releases to the environment, insurance inspections, and systems coordination. Onsite security services include electronic access control at all staffed and un-staffed locations; badging, and auto pass management; Kodak Rochester Control Center (KRCC) which is a full service 911 facility for alarm/CCTV monitoring, emergency dispatching, emergency notification, and trouble call handling (transportation emergencies, maintenance, poison control); mobile and foot patrols for inspections, emergency response, personnel escorts, and traffic violation enforcement; consultation services for security assessments/audits and crime prevention training; emergency preparedness planning to include management of site emergency & crisis management plans, coordinate site & Kodak Rochester Control Center table top drills, and interface with community emergency response organizations | 31

EBP & Regional Assets & Opportunities Synergies In-house and regional capabilities across an array of industry sectors and technologies present ample opportunities for synergies for new incoming businesses. Whereas sharing best practices, forming strategic alliances, cooperating on specific projects, or directly becoming a customer or supplier, these synergies can provide opportunities to future potential tenants for cost-savings, technology development, risk mitigation, expanded production capacity, etc. Legacy industries like Kodak, Bausch and Lomb, and Xerox have helped built the expertise and technical infrastructure for making Rochester a powerhouse in photonics, roll-to-roll manufacturing, specialty chemicals, solvent recovery, pharma, biotech & life sciences, to name a few. These capabilities can be leveraged by a myriad of industries. Kodak’s Specialty Chemicals operation offers processes and services for pharmaceuticals, agribusiness, personal care, electronics, graphics, and security. The Company’s Solvents Recovery operation on the other hand, offers processes and services for pharmaceuticals; chemicals; steel, copper construction; recovery operations; acetone recovery, hexane, commodity based solvents; industries needing to recycle materials to virgin quality; industries that need purification (e. g. alcohol market); etc. Furthermore, Kodak’s Roll-to-Roll manufacturing capabilities can be used in photovoltaics, as well as in the manufacturing of battery electrodes, fuel cells, window films, membrane technology, medical devices, a variety of films (LED lighting, optical, packaging, and electronic). | 32

EBP & Regional Assets & Opportunities Synergies Additional EBP and regional assets in photonics, energy storage, and food processing and manufacturing open doors for expanded opportunities. Photonics technologies are used in information technology and telecommunications; biophotonics in healthcare and life sciences; optical sensing, lighting, energy and displays; manufacturing machinery optical components; lasers and security devices for national security and defense; among others. The EBP is the new home of the Test, Assembly and Packaging (TAP) manufacturing facility of the American Institute for Manufacturing Integrated Photonics (AIM Photonics). Moreover, the State government recently announced the establishment of a $10 million, multi-year Photonics Venture Challenge in Rochester, which will help position the City as a critical hub for this technology and the industries that benefit from it. universities from around the world are working together to create prototypes for new energy storage and generation systems, test them, do pilot manufacturing and get products to market. Finally, the Park has over 90 tenants belonging to varied industries, including food processing and manufacturing, imaging sensors, medical components, metallurgical and refining, among many others. These companies provide an excellent basis of know-how and support network for Tenants similar industries, or industries that can leverage their Representative & Owners: expertise. Likewise, the EBP is becoming a hub for the development of critical next generation battery and energy storage technologies designed to improve the reliability and resilience of the Country’s electric grid, as well as support hundreds of new product applications from Li Ion Batteries, to PEM Fuel Cells to Ultracapacitors. Through the BEST Test & Commercialization Center housed at the EBP, companies and & Many More | 33

EBP & Regional Assets & Opportunities Shared Services & Business Support Shared Services regulatory and permitting agencies and processes, to The Eastman Business Park offers additional amenities that can be used and enjoyed by its tenants, such a 1, 968 -seat theater, a conference center, a 13, 070 square foot gymnasium, a 14, 000 square foot fitness center, dinning room with kitchen that can seat 350 people, and four full service cafeterias. serving as a facilitator to solve issues, share best practices, connect with varied local and regional resources, and many more, these organizations are a company’s best resource for establishing a solid operation from the get go. Business Support Additionally, the Region offers a strong network of business services (staffing, IT, accounting, etc. ) and industrial services (machine shop, tool & die, maintenance & repair, etc. ). The EBP has a strong partnership with the economic development organizations in the area including Empire Development Finger Lakes Region, the Finger Lakes Economic Development Council, and the Greater Rochester Enterprise, . These economic development organizations work hand-in-hand to market the available sites and buildings within the business park to new and expanding businesses. These organizations lend their resources to facilitate companies start up and operations. From acting as a liaison through all the network of Finally, Rochester has a robust network of professional organizations in the area that can help facilitate business recruiting, sharing of best practices, lobbying, etc. Examples of these organizations are: FAME: Finger Lakes Manufacturing Enterprise; Rochester Tooling and Machining Association, RTMA; Rochester Regional Photonics Cluster, RRPC; and the Manufacturing Association of Central NY. | 34

EBP & Regional Assets & Opportunities Business Environment & Quality of Life Business Environment & Quality of life When compared to neighboring communities and other mid-sized cities, Rochester has an edge due to a very vibrant high-tech presence in the area. Aspects like the easy commute and exceptional quality of schools are strong attributes. The Brighton Central, Penfield Central, and West Irondequoit school districts are highly rated by Neighborhood Scout, with a 10 out of 10 for district quality compared to New York State, and district quality compared to the U. S. Efforts like the construction of the Innovation Zone, led by the Rochester Downtown Development Corporation, are creating the environment to attract not only young newcomers, but also Rochester’s diaspora that is feeling compelled to come back to the City. These efforts, are helping develop a very vibrant Downtown, that is calling the attention of high-tech talent, while enhancing the quality of life, and spurring entrepreneurship via startups in industries such as food, software development, gaming, etc. Additionally, Rochester’s affordability makes it easier for people to move to the area. The City’s cost of living index is 89, compared to 122 of New York State, and 100 of the U. S. * Home sales prices are 42% more affordable than the national average**. The area is also very competitive in terms of wages, when compared with other mid-sized, high-tech areas, making it an attractive proposition for employers. *City of Rochester, Area Vibes-Council for Community and Economic Research. **Based on National Association of Home Builders – NAHB – Housing Opportunity Index from the third quarter of 2016. | 35

EBP & Regional Assets & Opportunities Market Potential The Rochester, NY economic area is within 400 miles of an 86. 6 -millionpeople market, one-quarter of the U. S. and Canadian populations. Major Metropolitan Area Toronto, ON Ottawa, ON Cleveland, OH Montreal, QC Detroit, MI New York City, NY Philadelphia, PA Washington, D. C. Columbus, OH Boston, MA Miles from Population Rochester, NY (In Million) 171 6. 4 252 1. 3 260 2. 0 309 4. 0 328 4. 3 337 8. 5 344 6. 0 385 6. 0 396 2. 0 397 4. 6 *Esri Business Analyst Supply Chain Proximity to East Coast population centers mean downstream chemical manufacturers are closer to consumer markets for end-use products. Since most product delivery would likely be via truck or rail, proximity to market is a supply chain advantage. | 36

EBP & Regional Assets & Opportunities Business Incentives* Business incentives are provided by economic development agencies at the State, regional, and local levels to encourage business investments that generate new jobs and contribute to economic growth. Incentives are based on total capital investment and job creation and/or retention by a company over a three to five-year period. Programs are available individually or bundled as part of a comprehensive package for larger capital investments that retain or create jobs as well as projects that create may high paying jobs. Incentives may apply to companies: • Acquiring land, buildings or machinery and equipment • Constructing or renovating buildings for business operations, including lease-hold improvements • Constructing or improving infrastructure required for new location or expansion. • Training new or existing employees Incentives generally fall into one of four categories: • Grants • Loans • Tax exemptions, tax credits and incentives • Special incentives, included power related *Sources: Greater Rochester Enterprise and Empire State Development | 37

EBP & Regional Assets & Opportunities Business Incentives Tax exemptions, Tax credits & Incentives Level of Funding Incentive Overview State Excelsior Jobs Tax Credit of 6. 85% of wages per net new job. State Excelsior Investment Tax Credit Excelsior Research and Development Tax Credit Valued at 2% of qualified investments State State County Credit of 50% of the Federal Research and Development credit up to six percent of research expenditures in NYS Available to firms locating in certain distressed areas and to firms in targeted industries that meet higher employment and investment thresholds • Employee Training Incentive Program: a credit of 50% of eligible training costs, up to $10, 000 per employee Employee Training Incentive Program receiving eligible training from an approved, 3 rd party training provider. • Internship Program: a credit of 50% of the stipend paid to an intern, up to $3, 000 per intern. Offers new and expanding businesses the opportunity to operate tax-free for 10 years on or near eligible START-UP NY university or college campuses in New York State. No business, corporate, sales, state or local taxes and no franchise fees. And no income tax for the company or its employees. Jobs tax credit of 6. 85 percent of wages per impacted job that is retained in NYS for business operations Empire State Jobs Retention Program impacted by natural disaster Financial assistance for projects that promote New York State’s economic health by facilitating job creation Economic Development Fund (EDF) and/or retention, or increased business activity in the state. Funds may be used for: Acquisition or leasing of land, buildings, machinery and/or equipment; acquisition of Regional Council Capital Fund Program (ESD existing business and/or assets; demolition and environmental remediation; new construction, renovation or Grants – REDC) leasehold improvements; acquisition of furniture and fixtures; soft costs up to twenty-five (25%) of total project costs; planning and feasibility studies related to a capital project Real Property Tax Abatement Tax abatements on improvements to property over ten or more years Sales and Mortgage Tax Abatements Sales and mortgage tax exemption on construction materials and equipment, and/or mortgage Excelsior Real Property Tax Credit *Sources: Greater Rochester Enterprise, Empire State Development, Monroe County Economic Development, County of Monroe Industrial Development Agency (COMIDA), Finger Lakes Hired, City of Rochester | 38

EBP & Regional Assets & Opportunities Business Incentives Workforce Training & Development Level of Funding Incentive Overview Local Recruitment - Rochester. Works! Post Job Openings Local Recruitment - Rochester. Works! Recruitment Services Recruiting ‘Round Rochester, Recruiting on the Road, Annual Career Conference & Job Fair, and Summer Job Fair Recruitment - Rochester. Works! Candidate Assessment Career credential that certifies that job seekers have the core employability skills required across multiple Tools - Career Readiness Credential (CRC) industries and occupations around: Applied Mathematics, Reading for Information, and Locating Information. Connects graduates of the Monroe Community College Applied Technology Center with local manufacturing Recruitment - Monroe Manufactures Jobs companies by providing both the employer and employee a $1, 500 bonus. Provide training for current, full-time employees earning $10. 00 – $25. 00 per hour to help them achieve Training - Rochester. Works! Customized Grants transferable skill upgrades. The grant reimburses up to $5, 000 in training costs for training that must be completed within six (6) months. A minimum 50% match is required for this program. The OJT program reimburses businesses between 50 -75% of total wages paid to a new hire who is being trained Training - Rochester. Works! On-the-Job Training Grants by another member of the company’s team and gaining the skills needed or their job. The maximum award amount per OJT contract is $5, 000. Businesses are limited to three OJTs per year. Available to companies participating in qualified certification programs which lead to an industry recognized Training - Monroe on the Job certification or transferable credential. Program expenses are eligible for reimbursement, up to $4, 000 per employee or $16, 000 per company. Employers must match at least 50% of the total program cost. Supports local employers willing to consider an applicant who may have barriers to employment; to observe their Training - Work Experience 'Tryout' Program skills and work habits and determine that they are the right fit for the job. Fully subsidized program. Local County Regional State Free jobs posting at Rochester. Works! Hot Jobs section and Jobs Central Training - Finger Lakes Hired Grant Can reimburse companies for 50% to 90% of their new hire’s wages during their training period. Training - JOBS Now Financial assistance for major business expansion and attraction efforts that will create or attract significant numbers of permanent, full-time private sector jobs in New York State. There are three categories of funding: Economic Development Loans and Grants; Job Creation Grants; and Workforce Training Grants. *Sources: Greater Rochester Enterprise, Empire State Development, Monroe County Economic Development, County of Monroe Industrial Development Agency (COMIDA), Finger Lakes Hired, City of Rochester | 39

EBP & Regional Assets & Opportunities Innovation Development Support New York State offers resources designed to enable new and existing businesses to become more competitive through the use of innovative technologies. Empire State Development's Division of Science, Technology and Innovation (NYSTAR) programs and centers emphasize the importance of working with industry as a way to leverage New York State’s technology strengths to produce new products. * A number of centers for advanced technology and centers of excellence are located throughout the state at universities and research institutions to help spur innovation and collaboration between the industry and the academy. Life sciences; biotechnology; biomedical and bioengineering; additive manufacturing and multifunctional printing; advanced technology in nanomaterials and nanoelectronics; advanced systems and engineering; automation technologies; energy systems; and advanced materials processing, are examples of the centers available. Specifically in Rochester, the Rochester Institute of Technology has the Additive Manufacturing and Multifunctional Printing (AMPrint) Center and the Center of Excellence in Advanced & Sustainable Manufacturing (COE-ASM). Likewise, the University of Rochester has the Center for Emerging and Innovative Sciences (CEIS) and the Center of Excellence in Data Science Business Incentives Other Incentives • Utility Infrastructure and Energy Efficiency support • Low Cost Power Allocations • Low Interest Loans and Interest Subsidies • Foreign Trade Zone • Grants • Bond Financing *Empire State Development **Sources: Greater Rochester Enterprise, Empire State Development, Monroe County Economic Development, County of Monroe Industrial Development Agency (COMIDA), Finger Lakes Hired, City of Rochester. | 40

EBP/Region’s Challenges

EBP & Regional Challenges Zoning & Future Planned Zoning Kodak’s consideration of making the east end of the site a mixed-use -type of development may be a deterrent to future potential industrial tenants. Additionally, the fact that a portion of the Park falls under the City of Rochester and another one under the Town of Greece, may add perception of complexity for permitting, operative, and fiscal processes, among others. This needs to be investigated further. Air Quality & Environmental The Park in a non-attainment area for 8 h-ozone. Credits are available on the open market, Kodak does not have available credits that can be used. Quality of life The perception of Rochester as an old industrial town, may be a deterrent for attracting professional employees to the area. Taxes High taxation in New York State may be a deterrent to attract talent from more affordable and less-tax burdened areas. New York State is the state with the highest taxation in the country, with a state and local tax burden of 12. 7% and an effective state tax rate ($50, 000 taxable income) of 5. 8%. * Additionally, stringent environmental regulations and permitting processes in the State of New York may be a deterrent for potential heavy industry users. *Forbes, March 2016 | 42

EBP & Regional Challenges Right to Work States Right-To-Work The fact the New York State is a non right-to-work state, may offer comparative disadvantages specially when competing against right-to -work states. In our experience, clients usually take the right-to-work status for granted, and do not usually discuss this topic exhaustively; however, right-to-work often comes up as a must-to have or desired attribute among the list of criteria to benchmark site options against. | 43

EBP & Regional Challenges Workforce Availability & Quality While the suburbs exhibit strength in terms of workforce quality, the City’s quality of schools and crime represent a weakness; therefore, workforce coming from the area may present challenges for employers. Neighborhood Scout reports that the area has a crime index of 7, meaning that its is safer than only 7% of the cities in the U. S. Rochester has 8. 78 crimes per 1, 000 residents on average, compared to 3. 8 of New York State, and 3. 8 of the whole country. Likewise, property crime rate in Rochester is reported at 39. 48 per 1, 000 residents, compared to 16. 06 of the State, and 24. 9 of the U. S. Crimes per square mile in the area are reported at 275 on average, in comparison to 41 in New York, and 32 of the country. Employers interviewed, also reported that there is a challenge to retain high level technical and engineering talent in the area, as there is a natural draw for recent/upcoming graduates to move to larger markets. They also reported limited availability of mid-tiered talent: e. g. machinist, tool & dye operators. Additionally, there is an aging population problem in the area. Population 60+ grew 14% between 2010 and 2016, from 19. 7% to 22. 5%, respectively, and it is expected to reach 25. 2% by 2021. Also, a large workforce that were part of the “big three” (Kodak, Bausch & Lomb, Xerox) at the back end of their careers On the other hand, in terms of education, the Rochester City School District’s quality has a score of 1, with 10 being best, meaning that the District is better than only 1. 4% of NY school districts, and 4. 5% than U. S. school districts. Reading and math proficiency is reported at 7%, versus 35% of the State. | 44

EBP & Regional Challenges EBP’s Lot Options Challenges Lot options Sites/building size & configuration Sites available are small in size which may limit the options for bringing in sizable heavy-utility industrial operations, and/or for expansion in the future. Options for amalgamating parcels to make larger sites may be constrained by development limitations such as existing structures with high demolition costs, intersecting roads, utility easements, active rail line, etc. Existing buildings product inventory is dated and may require retrofitting. Location of the Park within City limits and in close proximity to residential areas, may be disadvantageous for some industrial operations, and in comparison with more opened and unencumbered industrial parks. Environmental The heavy industrial/brownfield look and feel of the Park may be a deterrent to some looking for greener and more open-type of environment. Additionally, the stigma of perceived environmental contamination may be a deterrent for some. Neighboring operations | 45

Company Identification

21 Companies Downstream Chemicals Matching Target Companies Industry identified in the personal care and cleaning products; processed chemical products; dyes, pigments and coatings; and lubricating oils and greases industry subclusters, exhibiting: Over $10 million in sales, positive sales growth, and low and medium risk. Companies by State Companies Perfumes, cosmetics and other toilet preparations 5 Polishing preparations and related products 3 Adhesives and sealants 2 Cosmetic preparations Chemical preparations, not elsewhere classified Detergents, synthetic organic or inorganic alkaline Floor waxes 2 Laundry cleaning preparations 1 Oxidizers, inorganic 1 Paints and allied products 1 Sensitized film, cloth, and paper 1 Soap and other detergents Sweeping compounds, oil or water absorbent, clay or sawdust 1 Hoovers. com UT; 1 OH; 1 WI; 1 CA; 4 1 1 CO; 1 NY; 4 CT; 1 1 FL; 1 NJ; 1 MO; 1 MN; 2 IL; 2 GA; 1 1 | 47

Downstream Chemicals Matching Target Companies 95% of companies have over $50 M in Sales Hoovers. com | 48

Downstream Chemicals Matching Target Companies 57% of companies have over 1, 000 employees Hoovers. com | 49

Downstream Chemicals Matching Target Companies Company Name Location This list contains the 21 Companies identified in the personal care and cleaning products; processed chemical products; dyes, pigments and coatings; and lubricating oils and greases industry subclusters, exhibiting: Over $10 million in sales, positive sales growth, and low and medium risk. Sales ($ Mil) Employees Industry THE ESTEE LAUDER COMPANIES INC New York NY 11, 262. 30 M 46, 000 Perfumes, cosmetics and other toilet preparations S. C. JOHNSON & SON, INC. Racine WI 9, 400. 00 M 12, 037 Floor waxes THE CLOROX COMPANY Oakland CA 5, 761. 00 M 8, 000 Laundry cleaning preparations RPM International Inc. Medina OH 4, 813. 65 M 13, 394 Paints and allied products CHURCH & DWIGHT CO. , INC. Ewing NJ 3, 493. 10 M 4, 500 Detergents, synthetic organic or inorganic alkaline SIGMA-ALDRICH CORPORATION Saint Louis MO 2, 785. 00 M 9, 300 Chemical preparations, not elsewhere classified REVLON, INC. New York NY 2, 334. 00 M 7, 300 Perfumes, cosmetics and other toilet preparations REVLON CONSUMER PRODUCTS CORPORATION New York NY 2, 334. 00 M 7, 300 Perfumes, cosmetics and other toilet preparations H. B. FULLER COMPANY Saint Paul MN 2, 094. 61 M 4, 600 Adhesives and sealants Zep Inc. Atlanta GA 696. 49 M 2, 300 Soap and other detergents Rogers Corporation Rogers CT 656. 31 M 3, 100 Adhesives and sealants Inter Parfums, Inc. New York NY 521. 07 M 347 Perfumes, cosmetics and other toilet preparations Cabot Microelectronics Corporation Aurora IL 430. 45 M 1, 145 Polishing preparations and related products Oil-Dri Corporation of America Chicago IL 262. 31 M 767 Sweeping compounds, oil or water absorbent, clay or sawdust e. l. f. Beauty, Inc. Oakland CA 229. 57 M 351 Cosmetic preparations AMERICAN PACIFIC CORPORATION Cedar City UT 215. 09 M 160 Oxidizers, inorganic Markwins International Corp Walnut CA 80. 94 M 302 Cosmetic preparations PHYSICIANS FORMULA HOLDINGS, INC. Walnut CA 80. 94 M 151 Perfumes, cosmetics and other toilet preparations Ocean Bio-Chem, Inc. Davie FL 36. 21 M 128 Polishing preparations and related products Scott's Liquid Gold-Inc. Denver CO 35. 23 M 61 Polishing preparations and related products IKONICS CORPORATION Duluth MN 17. 57 M 80 Sensitized film, cloth, and paper Hoovers. com | 50

Woody Hydrick Managing Principal Global Location Strategies Tel. +1. 678. 988. 0078 woodyhydrick@globallocationstrategies. com Catalina Valencia Senior Consultant Global Location Strategies Tel. +1. 314. 809. 1741 catalinavalencia@globallocationstrategies. com Gideon Gradman Managing Director Integrated Energy Advisors Tel. +1. 773. 230. 1979 ggradman@integratedenergyadvisors. com