FRPL Finance: DESCRIPTION OF THE BUSINESS

Fairmont is a privately owned Canadian company that specializes in developing, marketing and
operating vacation ownership intervals and resort properties. As Canada’s largest vacation ownership
company with over 20,000 interval owners, Fairmont’s assets include:
• Fairmont Vacation Villas: one week interval ownerships at Fairmont, B.C.
• Fairmont Fractional Intervals: fractional leasehold interests in condominium villas
at Fairmont, B.C.
• Lake Okanagan Resort Vacation (2001) Ltd. (LORV): one week interval ownerships at
Kelowna, B.C.
• Lake Okanagan Resort (2001) Ltd. (LOR): Hotel and Resort at Kelowna, B.C.
• Makaha Resort and Golf Club: Golf Course, Hotel, Resort and championship 18 hole
golf course on the island of Oahu, Hawaii
• Makaha Vacation Ownership: fractional ownerships at Makaha Resort on the island of
Oahu, Hawaii
• Costa Maya Reef Resort Ltd., Hotel and Resort at Ambergris Caye in Belize which
includes both hotel and vacation interval operations
• Vacation Villas at the Oasis Resort in Mesquite, Nevada
• Two houseboat fl eets: Shuswap Lake Resort Club (16) and Shuswap Lake Vacation
Club (11) both moored at Salmon Arm and Sicamous, B.C.
The Company operates a Vacation Club which allows its members to internally exchange between
the Fairmont owned resorts, houseboats, villas, as well as with other resorts arranged by
way of exchange agreements with other international resort developers and also with CanaDream
Motorhomes.