February2017Update. "Cemeteryspaceshortagesendsburialpriceshigher" Bloomberg,2014

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1 ProjectUpdate

2 February2017Update 02 "Cemeteryspaceshortagesendsburialpriceshigher" Bloomberg,2014

3 03

4 PROJECTUPDATE InvestorswilbeawarethatourPhaseoneand Phasetwosaleshavenow completedsuccessfullyandeliteinvestorclubhavenow completed thesaleoftheiralocationofburialplots. We are now entering into the development phaseandweexpectthistobeacontinuously changing landscape as we add detailto our designoverthecomingmonths. Wearestartingwiththeseparationofoursite from the Federation ofsynagoguescemetery nextdoorandthisinvolvestheerectionofa2 metrehighsecurityfencealongthe350metre boundaryand the planting ofa mature Yew hedge (Taxus Baccata)to provide an elegant backdroptoourfuturedesignfeatures. Folowingthiswewilenterintothepreparation andconstructionofournew entrance,withfeaturegatesandelegantsignageandplantingto createawelcomingaspectforourvisitors. Wearecurrentlyworkingonthedetaileddesign featurestosatisfythemixedfaithofferingthat weareproviding,andalsofinalisingourdesigns forthenew chapelandoffices.wehopetobe inapositiontoreleasetherendered3dimages to help you visualise the cemetery in next month snewsleter. Anoutlinescheduleofourprogrammeofworks overthe coming monthscan be seen below. Whilsttherearestilanumberofformalitiesto completetocomplywithbuildingcontrolconditionswewilbeprogressingwiththelayoutof roadsandpathsandthenew carparkoverthe comingmonths,inorderthatourpre-needpurchasersareabletospecificalyselecttheirburial plotorplotsforfutureuse. Regarding the pre-need marketplace,which formsanimportantpartofourexitstrategy,we arecurrentlyinnegotiationwithvariousreligious groupswishingtofutureprooftheirneedsbyadvancepurchasingplotsonawholesalebasis.the localjewishcommunityisbecomingincreasingly concernedatthelackofspaceavailableintheir cemeterynextdoorandarecomfortedbythe factthattheycanstilbeburiedneartoafamily memberbysecuringaspaceinourcemetery, and the Muslim population in ourcatchment areahasnow beenalertedtothefactthatthe GardensofPeaceCemeteryatHainaulthasnow soldalofitsalocatedburialspace. Weanticipatethatliteraturepertainingto the pre-needmarketplacewilbereadyfordistribution in earlyapriland thiswilhelp usto approachtheindividualbuyersandsmalerfamily groupsinterested in securing theirfuturesin whathasbecomeratheratopicalareaoflate. ThereleaseofthelatestSunLifeCostofDying Reportsuggeststhatthecostofafuneralroseby 10timesthecostoflivinginayearandthatoveralfuneralcostshaverisenbyover100% inthe past10years.thereflectiononburialsiseven harsher,with the costrising by16 timesthe annualcostoflivingin1year.!whilstweconsiderthistobeveryharshonfamilieswhoare stretchedtoaffordwhatisanecessarypurchase, wedotakecomfortfrom thefactthatwearepart ofthesolutionbyfutureproofingthem withour pre-needpurchasingmodel. Welookforwardtoupdatingyoufurtheraswe entertheexcitingphasesofdevelopmentover thecomingmonths. 04 "Funeralcostssoarby10timestheincreaseofthecostoflivinginayear" -Sunlife,CostofDyingReport2016

5 "BurialspaceinEnglandcouldrunoutin20years" BBCNews,

6 SCHEDULEOFWORKS February2017 Pre-ApplicationconsultationswithHaveringPlanningOfficerstoagreematerialusesandlayouts March2017 Instalationofsecurityfenceand2metreYew fenceonboundary. May2017 FinalPlanningdetailagreedwithHaveringCouncil July2017 Appointmentofcontractorandmobilisationonsite. September2017 InstalationofDrainage,Engineeringworks,androadsandpaths January2018 CommencementofChapelandancilarybuildingsconstruction. April2017 Preparationfornew accesstosite June2017 Preparationofscheduleofhardandsoftlandscapingandtenderpackagedistribution August2017 CommencementofWorks December2017 CompletionofHardlandscapingworks February2018 Softlandscapinganddivisionofreligiousareas 06 April2018 Completionofallandscapeworks.Openingofcemeteryforgravesideservices August2018 Completionofchapelandancilarybuildings.

7 HarleyInvestmentsLtd,11CarolineStreet,Birmingham,B31TR T F W