Board of Advisors Meeting Facilities – Space Planning Review    Board of Advisors Meeting Facilities – Space Planning Review April 12, 2016 Presented on November 4, 2009 1

Workplace Programming Summary Encouraging start to 2016; mild winter and gains in operating performance are showing progress Operational improvements – driven by scorecard implementation, structured oversight Service levels, ASA, Abandons Expanded reporting capabilities delivering insight into KPI’s Average Handle Time improvements: CS down 12% and Authorizations down 9% Calls per claim progress – down to 2.67 Reducing abandon rates, Adding increased skills training to the associates Reductions in task inventory Call volume coming in under forecast Focused on increased TOW Cost per claim – slight reduction flowing from the above; still working on key levers Ownership and accountability changes will help accelerate Retention function benefiting from renewed focus and reorganization Resell rate holding steady Staffing optimized; continuing performance assessments to upgrade bottom 20% NPS improving January at 45.5%

Workplace Programming Summary Workspace Requirement (rsf): Detailed programming suggests a current workspace requirement of 62,005 rsf… Identified seat count: 396 Favorable blended 156 rsf pp workspace metric Modest projected incremental growth of 2% compounded through 2019 yields a workspace requirement of 66,171… Provides +/-7% workspace growth Accommodates increased seat count demand of 425 Continued favorable 155 rsf pp workspace metric

Workplace Programming Summary Workspace Composition (continued): The workspace requirement is comprised of three major components: Operations – Call Center environment General lines of business including Business Development, Marketing, Sales, Finance, IT, etc. and… Common space functions including reception, conferencing, etc Operations represents 50% of the total headcount/seat count but occupies only 30% of the workspace… Identified seat count requirement: 219 Dense 85 rsf pp workspace (call center) metric Remaining general lines of business occupy 60% of the workspace… Identified seat count requirement: 177 Favorable 169 rsf pp workspace metric Common space functions occupy the remaining 10% of the workspace Workspace requirement - variability: Optimum space planning strategies can provide potential space savings of 5% Target property common area efficiency represents a +/- 5% swing

Draft Recommendations Identify potential sites with +/- 72-75k available rsf Evaluate single story vs. stacked configuration ie space creep Evaluate building efficiency and space planning optimization Mitigate parking concerns – seek 10/1 ratio

Workplace Design Options

Market Condition Summary

Broward County Market Statistics The Broward County office market ended the year with slight improvement in the fourth quarter as the vacancy rate dropped another 2/10th of a percent to 11.4%. Net absorption had it’s best quarter with over 320,000 SF absorbed across all classes of office assets. Asking rental rates have risen by a little more than 3% in the last year, to currently stand at $24.78 PSF. Under construction space dropped to only 762,000 SF. Overall Broward: Total SF: 69,856,489 Vacancy Rate: 11.4% Under Construction: 762,552 SF Avg. Asking Rent: $24.78 PSF Sawgrass Park: Total SF: 3,764,944 Vacancy Rate: 11.1% Under Construction: 469,377 SF Avg. Asking Rent: $26.89 PSF Plantation: Total SF: 8,915,754 Vacancy Rate: 13.0% Under Construction: 215,000 SF NW Broward/Coral Springs: Total SF: 5,142,182 Vacancy Rate: 12.4% Under Construction: 11,613 SF Avg. Asking Rent: $23.38 PSF

Available Properties

Options – Build to Suit Location: NW 136th Ave & NW 8th Street City: Sunrise Total Size: 90,000 SF Developer: Starwood Comment: Starwood purchased the Duke portfolio in Plantation and Sunrise in Q2 2015. Will consider BTS lease and possible sale Location: Pine Island Road and Peters Road City: Plantation Total Size: Up to 110,000 SF 6.5 Acres available Developer: Patrinely Group Comment: Will consider BTS lease or possible sale. Lower Building size or structured parking will be required.

Options – Existing Buildings Location: 13450 W Sunrise Blvd City: Sunrise Total Available: 111,111 SF Parking: 4.7/1,000 Owner: Foundry Commercial Asking Rent: $21.50 PSF NNN Comment: Top floor pf 40,000 SF available with 25,000 on floor below. Can provide additional parking. Location: 777 American Express Way City: Plantation Total Available: 338,431 Parking: 6/1,000 Owner: TM Real Estate Group Asking Rent: TBD Comment: Amex lease expires in 12/2017 but will be moving out early. Floor plates are 65,000 SF each.

Options – Existing Buildings Location: 1401 NW 136th Ave City: Sunrise Total Available: 54,444 SF Parking: 5.1/1,000 Owner: Banyan Street Capital Asking Rent: $16.50 PSF NNN Comment: May consider a sale Location: 5601 Hiatus Road City: Tamarac Total Available: +/-50,000 (100K SF Bldg.) Parking: 9.1/1,000 Owner: Piedmont Realty Asking Rent: TBD Comment: State Farm is moving out of 50,000 SF in Q1 2017.

Options – Existing Buildings Location: 1801 W Spectrum Blvd City: Fort Lauderdale Total Available: 72,718 SF Parking: 5/1,000 Owner: Goddard Investments Asking Rent: $19.00 PSF NNN Comment: For Sale as well. Citrix vacating in Q1 2017. Includes Back up generator. Location: Sawgrass Technology Park (Existing Park) City: Sunrise Total Available: +/-77,161 Parking: 5/1,000 Owner: Fifteen Group Asking Rent: $16.50 Comment: Sheridan has vacated and is negotiating a termination.

Options – Build to Suit Location: NW 136th Ave & NW 8th Street City: Sunrise Total Size: 90,000 SF Developer: Starwood Comment: Starwood purchased the Duke portfolio in Plantation and Sunrise in Q2 2015 Location: Pine Island Road and Peters Road City: Plantation Total Size: Up to 110,000 SF 6.5 Acres available Developer: Patrinely Group Comment: Will consider BTS lease or possible sale. Lower Building size or structured parking will be required.

Appendix

Current Lease Abstract Premises A total of 51,120 SF. 38,087 located in Building E and 13,033 SF located in Building B. Term 5 years Lease Expiration 1/30/2020 Base Rent (current) $14.00 (primary space) - $14.74 (expansion space) Operating Expenses Lease is NNN Termination Right As of 1/31/2018, providing notice is delivered prior to 5/1/2017 and payment of $125,000 Termination Fee Parking 4 per every 1,000 SF. In addition, Tenant pays and receives additional parking based on the following: 2/1/15 – 7/31/15 - 70 Spaces * 8/1/15 – 1/31/16 - 50 Spaces 2/1/16 – Lease Exp - 40 Spaces * Date has been extended to 11/30/15, subject to further extension and negotiation.

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