Crystallizing Value Creation & Market Overview

Top 20 Clients Highly Insulated from Changing Consumer Behavior SERVICE-ORIENTED THE HOME DEPOT NON-DISCRETIONARY LIFETIME FITNESS CIRCLE K B&Q Kroger Sainsbury's Walgreens CVS pharmacy TESCO All top 20 clients fall into at least one category: LA FITNESS. Fas mart 7-ELEVEN. ■ Non-Discretionary ☐ Low Price Point Service Retail Non-Retail Note: Walmart represented by both Neighborhood Markets and Sam's Club. amc THEATRES REGAL Walmart Neighborhood Market DOLLAR GENERAL DOLLAR TREE FAMILY DOLLAR BJ's Sam's Club. LOW PRICE POINT REALTY INCOME FedEx இ TREASURY WINE ESTATES NON-RETAIL 40

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