The Shelter Companies

Disclosures:
An investment in the Shelter Companies (the “Sponsor”) emerging housing opportunities involves risk and is not suitable for all investors. Certain information contained herein concerning economic trends, market data, performance, and other matters are based on or derived from information provided by independent third-party sources. The Sponsor believes that such information is accurate and that the sources from which it has been obtained are reliable. However, neither the Sponsor, the manager, nor any of their affiliates can guarantee the accuracy of such information, nor have any of them independently verified the assumptions on which such information is based. This presentation has been prepared for informational purposes only and is not an offer to buy or sell any security or instrument or to participate in any particular investment strategy and should only be read in conjunction with (and is qualified in its entirety by the more detailed information contained in) the Confidential Private Placement Memorandum. Investors should contact their own financial, tax, legal, and other professional advisors on the impact of investing. Additional information is available upon request. Certain statements contained in this document are forward-looking. Forward-looking statements are statements, other than statements of historical fact, that address or discuss activities, events or developments that will or may occur in the future, including the ability to identify, pursue and consummate investment opportunities, the strength of the real estate markets, business strategies and measures to implement these strategies, competitive strengths, benefits that may be achieved in connection with the integration of the strategies, objectives, goals, expansion and growth of investments and operations, plans and references to future investments and success. Such forward-looking statements can be identified by the use of words such as "seek, anticipate, assume, plan, continue, estimate, expect, may, will, project, predict, potential, targeting, intend, could, might, should, believe" and similar expressions or words of similar import or the negatives thereof. The forward-looking statements reflect the current views and beliefs of management and are based on certain assumptions, including assumptions as to future economic conditions and courses of action, as well as information currently available to management and other factors management believes are appropriate and reasonable in the circumstances. Such forward-looking statements are subject to risks and uncertainties and no assurance can be made that any of the events anticipated by such statements will prove to be accurate or occur or, if they do occur, what the effect would be. The Units are being offered only to prospective investors that meet certain eligibility criteria. Each Investor will be required to represent and warrant, and also verify, among other things, (1) whether he, she or it is or is not a "U.S. person" as defined in Regulation S promulgated under the Securities Act, and (2) that he, she or it is an "accredited investor" as defined in Rule 501(a) of Regulation D promulgated under the Securities Act. Furthermore, the Units are suitable investments only for sophisticated investors for whom an investment in does not constitute a complete investment program and who fully understand, are willing to assume and who have the financial resources necessary to withstand the risks involved in the specialized investment program and to bear the potential loss of their entire investment in the Units. Investors may be subject to additional suitability restrictions in certain jurisdictions that may restrict an Investor's ability to invest in the Offering. Persons interested in purchasing Units should inform themselves as to the legal requirements within their own countries for the purchase of Units and any foreign exchange requirements with which they must comply. Past performance is not indicative of future returns or results.