Our Partners Lomond Partners hold the majority of equity but have access to significant capital from Institutional Investors including MML and Investec. MML is a leading private equity capital fund that creates bespoke deals in response to unique challenges, providing capital to private businesses for expansion, acquisitions, recapitalisations and management buyouts. Investec is a leading Specialist Bank and Asset Manager that provides a diverse range of financial products and services to their niche client base. Our Market Our Business Our Directors Our Partners Our History Quick Links Contact Us Our Directors Copyright © 2015 Lomond Capital. All right reserved | Terms & Conditions | Cookies & Privacy

UK Market Drivers Significant growth has been achieved over the last 5 years in the UK Private Rental Sector and this is forecast to continue due to the significant structural shift in the UK Residential Market Key growth drivers – There are two key growth drivers in relation to the UK Private Rental Sector, namely: UK Housing gap – Over the next 20 years there is a demand for an extra 300,000 residential units per annum, which is in addition to the current shortfall on housing within the UK of 2 million homes Owner occupied / Social Housing – Owner occupation in the UK increased significantly from the 70’s but this trend has started to reverse over the last 10 years. In addition, the level of social housing within the UK is falling, due to the lack of availability of funds to invest in social housi Shift towards the PRS – The drivers which have resulted in growth in the Private Rental Sector over the last 5 to 10 years will continue to stimulate further growth in the Private Rental Sector as follows:- High level of deposits for mortgages Student debt Longevity Government support (>£50bn) Generation of Renters – a significant shift has occurred in the UK Market in the number of 16 to 34 year olds opting to own rather than rent accommodation – in 1991 more than 60% of 16 to 34 year olds owned their own property and by 2011 the number owning their own property had fallen to 35% Average age of first time buyers - the average age of first time buyers in the UK 5 years ago was 28 compared to figures of late 30s or early 40s in European and US markets – the current average age is now 38. Our Market UK Private Rental Market UK Residential Market UK Historic Investment Returns UK Market Drivers UK Property Management Key Drivers of consolidation Our Business Our Directors Our Partners Our History Quick Links Contact Us Our Directors Copyright © 2015 Lomond Capital. All right reserved | Terms & Conditions | Cookies & Privacy

UK Historic Investment Returns Over various periods UK residential assets outperform all asset classes with the exception of 5 year gilts. Our Market UK Private Rental Market UK Residential Market UK Historic Investment Returns UK Market Drivers UK Property Management Key Drivers of consolidation Our Business Our Directors Our Partners Our History Quick Links Contact Us Our Directors Copyright © 2015 Lomond Capital. All right reserved | Terms & Conditions | Cookies & Privacy