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       	                                                                                  Over  325 Million                                                                                              $                                                                       of Capital Investments                                                                                         in Our Resorts                                                                               Featured                                                                               Jupiter Express High-Speed Quad - Stevens Pass, WA                      CNL is Committed to the Ski Industry                     Silver Fir Lodge - The Summit at Snoqualmie, WA                                                                               Cypress Creek Lodge - Cypress Mountain, BC                      and Our Industry Partners                      From our first acquisition in 2005, CNL Lifestyle Properties, Inc. has grown to be the largest owner of ski                      and mountain lifestyle properties in North America, underscoring our commitment to the ski industry.                      We’re also committed to our operating partners’ success. Since 2005, we have invested in new base lodges,                      snowmaking equipment, new lifts and other capital improvements to deliver the best ski experience.                      Disciplined investment in capital maintenance projects avoids deferred maintenance, and ensures that our                      resorts remain attractive to guests.                      Skiing is an iconic part of the American lifestyle, and CNL Lifestyle Properties is committed to investment                      in and advocacy for the ski industry.                         CNL Lifestyle Properties’ Ski & Mountain Lifestyle Investments:                         Big Sky*, MT                 Mountain High, CA           The Summit at Snoqualmie, WA                         Bretton Woods, NH            Mount Sunapee, NH           Village at Blue Mountain                         Brighton, UT                 Northstar California, CA    Village at Copper                         Cranmore*, NH                Okemo, VT                   Village at Mammoth                         Crested Butte, CO            Sierra-at-Tahoe, CA         Village at Northstar                         Cypress Mountain, BC         Stevens Pass, WA            Village at Snowshoe                         Jiminy Peak, MA              Sugarloaf, ME               Village at Stratton                         Loon Mountain, NH            Sunday River, ME            Village at Whistler Creekside                                                                                               *Senior mortgage financing                                For more information, please call (800) 522-3863 or visit CNLLifestyleREIT.com         NSAA Early Winter 2014 prepressed v5b.indd   69                                                              10/29/14   6:10 PM
       
       
     





