20,000m 2. 3,000m 2. 7,500m 2

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1 HOTEL WASA STATION

2 Hotel Wasa Station The Hotel Opportunity Proposed Hotel WASA Station is an exciting new operating opportunity in the city centre of a coastal city of Vaasa, located in Western Finland. shopping centre 20,000m 2 sports arena / expo 3,000m 2 congress centre / music hall 7,500m 2 Lemminkäinen Group, one of Finland s largest and oldest construction companies, is seeking an experienced hotel operating company to manage a proposed 150-room midmarket hotel, which is to be constructed as a part of a large multi-purpose development called WASA Station. CONcEPT

3 Wasa Station: the concept WASA Station is the most important urban planning and building project in Vaasa in decades and is a show case for the energy cluster companies: the project is able to generate the energy required. Project is to be developed on the site of a former bus station, in close proximity to Vaasa central railway station and city centre, WASA Station is expected to include a 20,000m 2 shopping centre with food court and restaurants, 3,000m 2 sports arena for floor-ball holding over 1,000 spectators which could be also in expo use, 7,500m 2 congress centre and music hall, which will become a new permanent venue for city s orchestra of 38 musicians, public services, and a landmark tower shared between the Hotel and residential dwellings. The aim of the development, and part of Vaasa city strategy, is to create a new urban area and extend the central business district over the rail tracks, adding the vitality to currently quiet industrial and residential area that is expected to accommodate up to 7,000 new inhabitants during the next decade. In addition, expo facilities are expected to attract tens of thousands of visitors to Wasa Station and generate thousands of roomnights for the proposed hotel. WASA Station is expected to become a major venue for futsal and floorball competitions and a concert hall for 1,000-spectators and an outdoor concert facility that the city was missing. WASA Station is the most important urban planning and building project in Vaasa in decades. Music & Conference Hall Outdoor Event / Concert Facility Expo / Sport Arena Proposed Hotel shopping centre new residential area

4 Hotel Wasa Station proposed Hotel Given the Proposed Hotel s location, its modern landmark construction and a wide range of various facilities on-site, it is expected to benefit from strong local and regional overnight demand, generated by a number of new and relocating venues attracting clientele from conference, exhibition, concert, sports competitions and leisure sectors, all visiting WASA Station venues and facilities. In turn, these visitor flows are naturally expected to generate significant Food and Beverage sales. guest rooms 150 restaurant seats 200 congress facilties 500m 2 HOTEL

5 the Hotel Guest Rooms The planned hotel development is envisaged to have a total of 150 guest rooms, equipped and decorated in a modern fashion in accordance with the standards used by internationally branded midmarket hotels. In terms of size, guestrooms will offer a standard size of 22 24m² which we consider to be appropriate for this type of property and its anticipated market positioning. There is certain flexibility in terms of facilities and design once the operator is selected. Restaurant and Bar The Hotel is expected to have a 200-seat themed all-day restaurant, serving breakfast and lunch buffets, as well as À la carte menu. In addition, the restaurant will provide catering services for congress and music hall and sports arena, located at the same development. The Bar & lounge is seen to be a part of the Lobby area, allowing guests to easily move across the zones and be able to eat/drink/ work in any of the Hotel s public areas. There are plans to include a wide terrace at the side overlooking the market square for events. Conference and Meeting Facilities The Planned Hotel will have well-proportioned and flexible conference facilities of approximately 500m 2.The meeting venues are planned to enjoy natural daylight and be equipped to high standards with modern technology. The Hotel is seen to serve and attract mainly smallto-medium size meetings and conferences, while the neighboring Congress and Music Hall is expected to host larger events. Leisure Facilities Taking into consideration, strong leisure demand in the region, we recommend the Hotel to feature saunas, gym and hot tubs on one of the top floors, providing magnificent city views. However, given the variety of leisure attractions already planned on site, this is optional and is to be decided once the operator is found.

6 Location and accessibility Hotel Wasa Station The Hotel is to be located in In response to growing demand, The Hotel s site is about 300m flights to Stockholm and the city centre of Vaasa a dynamically developing city located on the shore of the Baltic Sea, at the narrowest part of Golf of Bothnia (approx. 90 km) separating Finland and Sweden. There is a maritime link from Vaasa (Finland) and Umea (Sweden) that completes the E12 highway, which runs from Russia all the way to the the European Union has launched a development project called Midway Alingnment of the Bothnian Corridor, aiming to facilitate the improvements in ports infrastructure and to develop a new modern and environmentally friendly ship that meets the needs of both passengers and transportation companies. The new ship is The Hotel is to be located in the city centre of Vaasa a dynamically developing city located on the shore of the Baltic Sea from the central railway station of Vaasa and the historical city centre with all the main demand generators located within a short walk. Location in a tower construction will ensure perfect visibility of the Hotel, meanwhile the whole development is expected to become a new city landmark. Helsinki, as well as to some seasonal resort destinations. Road access to the site is also very good. Distance to key Finnish cities: Seinäjoki 80km Tampere 240km Oulu 320km Turku 335km, Helsinki 420 km. Atlantic Coast of Norway. The currently being designed by Vaasa Airport is located about ferry connection is actively used both for cargo and passenger transportation. A new ferry Vaasa-based company Wärtsilä (world s leading diesel engines manufacturer) and the project 10km from the site, with approximate travel time of 15 minutes by car. It is the Flight durations: Helsinki 1 hour Stockholm 1 hour has been launched in 2013, should be completed in th largest airport of Finland immediately resulting in doubling measured by passenger volume. of the passenger volume. Airport provides several daily

7 Vaasa University WASA STATION 500m Railway Station Market Square Sundsvall Umeå vaasa Wasalandia Amusement Park Wasaline Ferry Terminal Tropiclandia - Water Park & Spa Central Hospital Oslo Helsinki Saint Petersburg Stockholm Tallinn Vaasa airport 9 km location tampere 240 km oulu 320 km helsinki 420 km

8 Hotel Wasa Station VAASA REGION Vaasa (65,000) is educational, cultural and tourism centre of Ostrobothnia region (180,000), known for its multicultural society, production of exported goods and for one of the highest employment level in the country. vaasa population 65,000 Energy companies 140 TURNOVER (BILLIONS) EUR 4.4 VAASA

9 Local Economy The city represents an important gateway to Sweden, due to easy accessibility by ferry or plane and bilingual Finnish-Swedish speaking population. Vaasa has a strong industrial base and hosts the largest energy cluster in the Nordic Countries, involving 140 companies and 10,000 employees and 1000 people working on research and development. The energy cluster s combined annual turnover equals to 4.4 billion and continues to increase. The city represents an important gateway to Sweden, due to easy accessibility by ferry or plane and bilingual Finnish-Swedish speaking population. Vaasa is also known as Finland s largest university city in proportion to population. It has three universities and two universities of applied sciences, and is a leading research and development destination in the region. There are more than 12,400 university students and 5,400 vocational students. Growing amount of jobs and educational institutions support Vaasa s annual population growth about 100,000 new Vaasa residents are expected to move to the city during the next 20 years. Besides business concentrations and educational institutions, Vaasa has also a rich historical past and plenty of tourist attractions including Tropiclandia water park, Wasalandia entertainment park, Kvarken archipelago, which is the only UNESCO World Heritage Site in Finland, and many more. Finally, Vaasa is also officially the sunniest place in Finland, according to the amount of sunny days during the year! The Competitive Hotel Market The current accommodation supply in Vaasa consists of 8 hotels and approximately 850 guest rooms. The hotel market is dominated by domestic chain Sokos Hotels, which operates both 285-room Radisson Blu and 143-room Sokos hotel. 184-room Congress and Spa hotel Rantasipi Tropiclandia is operated by Finnish operator Restel, while the rest of accommodation supply is comprised by small and medium scale independent hotels. In 2013, Vaasa hotel market reached a market wide occupancy of 54% and an average room rate of 80. The market has completely recovered from economic crisis of and is expected to improve its performance given increasing business visitation to Vaasa. The new strategy & projects aimed to attract new leisure demand and several large-scale events planned in the city in the next few years that are expected to generate further demand for overnight accommodation in the market.

10 Hotel Wasa Station lemminkäinen oy Lemminkäinen is a leading specialist in infrastructure construction and building construction. Lemminkäinen developes and fosters responsible high-quality construction at each phase of each project. Lemminkäinen`s main market area is Northern Europe. In 2013, net sales were EUR 2.0 billion, and the Group employed an average of 6,000 people. Lemminkäinen Corporation s share is quoted on NASDAQ OMX Nordic Exchange Helsinki. net sales (BILLIONS) EUR 2.0 EMPLOYED PEOPLE 6,000 status

11 Development Status Construction company and the developer Lemminkäinen Oy is seeking an experienced hotel operator and investor(s) (these can be two separate entities) to drive the development on this site. The city s planning authorities have approved preliminary plans for a hotel development on the site. Subject to the approval process and the successful outcome of the operator search, construction could start in , in close cooperation with the selected Hotel operator. Anticipating Timing agreements will be considered, although a preference will be given to a lease (either fixed rent, turnover based rent, or a hybrid set up, subject to discussion). A management contract could be considered, particularly with owner s priority returns / guarantees. Prospective LESSEES are invited to provide: Details of operating experience Proposed branding & style of operations Lease terms, initial rental levels and rent reviews mechanism Location of the nearest hotel operations Subject to the approval process and the successful outcome of the operator search, construction could start in Subject to securing the necessary building permissions, delivery of the necessary detailed concepts and the construction process, it is envisaged that the proposed hotel could potentially start trading from January Land Terms & Conditions The Terms Christie+Co has been appointed to identify and agree initial terms with a suitable operator. Potentially both lease and management Prospective MANAGEMENT partners are invited to provide: Details of operating experience Proposed branding & style of operations Terms of contract, base fee and incentive fee structures Guarantees or subordination structure Technical services fees Location of the nearest hotel operations

12 Further information on the Proposed Hotel is available upon request. Initial expressions of interest are sought by the end of April 2015 and should be directed to Kimmo Virtanen Director / Christie+Co T: M: E: kimmo.virtanen@christie.com Technopolis Ruoholahti 2 Energiakuja Helsinki Olga Kiilunen Consultant / Christie+Co T: M: E: olga.kiilunen@christie.com Technopolis Ruoholahti 2 Energiakuja Helsinki HOTEL WASA STATION Conditions of Christie + Co s particulars These sales particulars are prepared as a general guide to the property/properties (which expression includes business and trade content, if any, included in the sale) for the convenience of a prospective purchaser or tenant (an acquirer ) and are intended for business people familiar with commercial transactions. If you are not sure that you fit this description, you should take relevant independent advice before proceeding further. Christie + Co for itself and for the vendors, owners or landlords of the property (together the Client ) whose agent Christie + Co is, give notice that: (a)these particulars are made without responsibility on the part of Christie + Co or the Client; they do not obviate the need to make appropriate searches, enquiries and inspections, nor do they constitute any part of an offer or contract, and statements herein are not to be relied upon as statements or representations of fact; any acquirer must satisfy himself, by inspection or otherwise, as to their correctness and any error, omission or misdescription therein shall not affect or annul the sale or be grounds for rescission or compensation; (b)the Client does not make or give, and neither Christie + Co nor any of its employees has any authority to make or give, any representation or warranty whatever in relation to the property; (c) Christie + Co has not carried out a detailed survey, nor tested the services, appliances and specific fittings; (d) Dimensions (where given) are approximate and should be verified by an acquirer; and (e) Any accounts or financial statements or registration information provided to an acquirer are provided on behalf of the Client by Christie + Co, and Christie + Co cannot therefore offer any guarantee of their completeness or accuracy, and accordingly shall not be liable for any loss, damage, cost, expenses or other claims for compensation arising from inaccuracies or omissions therein. These details were believed to be correct at the date of publication but their accuracy is not guaranteed. Subject to Contract. Copyright Reserved Christie + Co. January 2015.