Brightline Overview THE ONLY PRIVATELY OWNED, OPERATED AND MAINTAINED EXPRESS INTER-CITY TRAIN SERVICE IN THE UNITED STATES

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FSITE ANNUAL MEETING BEN PORRITT, SVP, CORPORATE AFFAIRS OCTOBER 30, 2018

Brightline Overview THE ONLY PRIVATELY OWNED, OPERATED AND MAINTAINED EXPRESS INTER-CITY TRAIN SERVICE IN THE UNITED STATES Removing 3 million vehicles from roads each year Reducing congestion, greenhouse emissions and fuel consumption Trainsets 100% Made in America by Siemens and 40 other suppliers in over 20 states Connecting Florida Residents, Business Travelers, Commuters & Tourists Leverages existing Florida East Coast Railway used by trains for more than 100 years Combination of two companies: Express intercity passenger rail service and transportation oriented real estate in South Florida downtowns

Travel by car is unpredictable Travel by plane is uncontrollable More Than 400m Travelers Experience Limited and Challenging Mobility Options 3

THE STATE OF FLORIDA O N E O F T H E M O S T ACTIVELY TRAVELED C O R R I D O R S I N T H E U. S. 20M+ population 116M annual visitors 400M+ trips along the route +9M PEOPLE ~50% of state s population, currently reside proximate to existing corridor HIGHLY CONGESTED ROADS Miami ranks as one of the most congested urban areas in the U.S. 4

Platform for Future Passenger Rail Systems Established model and expertise to implement express passenger rail across the country Several U.S. corridors have the ideal characteristics to support express passenger rail systems Under 400 miles High density populations with some of the nation s most congested roadways Existing railroad and highway infrastructure Selected U.S. Corridors for Express Passenger Rail Miles Population (1) Brightline Miami to Orlando 235 8.5 Selected U.S. Corridors Boston New York Washington DC Brightline ext. -Tampa, Jacksonville 84 / 155 4.5 Washington DC NY - Boston 220 31.0 Atlanta Charlotte 245 8.3 Orlando Tampa Jacksonville Dallas Houston 240 14.0 LA San Diego 120 16.6 Chicago Columbus 360 11.6 Northeast corridor BRIGHTLINE Miami Houston San Antonio Austin 211 11.3 San Antonio Austin Dallas 275 11.7 (1) Metro area population per 2016 US Census Bureau estimate. Southern California Las Vegas 185 22 5

TRAINS 6

INTEGRATION OF COMMUTER RAIL +

STATIONS Designed by

Evernia St, between S. Rosemary Ave & S. Quadrille Blvd Located in the heart of the city, all the places you want to go to are walkable. Stroll down to West Palm Beach s multiple art museums, entertainment venues, beaches and even wildlife sanctuaries. WALK BIKE RIDESHARE/ CAB PUBLIC TRANSIT Government Center West Palm Beach Courthouse City Hall Clematis District CityPlace Centennial Park Waterfront Flagler Museum Kravis Center Palm Beach Island Palm Beach Atlantic University Convention Center Airport Beaches Palm Tran Tri-Rail 9

NW 2nd Ave, between W Broward Blvd & NW 4th St Located in the heart of downtown, more than 100 shopping and dining options are closer than ever. A short walk and you re at the Broward Center for the Performing Arts, museums and miles of beautiful beaches. WALK BIKE RIDESHARE/ CAB PUBLIC TRANSIT City Hall Historic District Museum of Science Riverwalk A&E District Broward Center for the Performing Arts FAT Village Las Olas Boulevard & Tarpon Bend Park Downtown Business District Port Everglades Beaches Airport Broward Country Transit Wave Streetcar (future) Sun Trolley 10

NW 1st Ave, between NW 3rd St & NW 8th St From the immersive arts and culture to the incredible sports, events and nightlife, Miami never disappoints. Enjoy world-renowned dining and shopping, the Art Deco District of Miami Beach and relax on fabulous beaches and marinas WALK BIKE RIDESHARE/ CAB PUBLIC TRANSIT American Airlines Arena Adrienne Arsht Center PortMiami Bayfront Park Miami Dade College Brickell Little Havana South Beach Jungle Island Coral Gables Wynwood Marlins Park and more MetroMover MetroRail MetroBus Tri-Rail 11

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g o b r i g h t l i n e. c o m #gobrightline 13