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ANLBC Requirements for Development and Operating Agreement Renewal

ANLBC Development Requirements Annual guarantee paid to ANLBC equal to the greater of $10,000,000 annually (increasing by annual CPI) or 25% of all annual gross revenue of the development (including, without limitation, rental, lease, parking, advertising or other revenues). ANLBC to control and retain rights to sell naming rights and related advertising and sponsorship inventory for the development and to retain all revenues from such sale. No signage, advertising, branding, retail or other exterior promotional exposure for any competitors of ANLBC exclusive sponsors (See Exhibit A for protected categories which may be amended from time to time by ANLBC). No fast food restaurants other than one (1) coffee shop (e.g. Dunkin Donuts, Starbucks). No third party retail may sell Braves merchandise or tickets within the development. Limit to two (2) sports bars and two (2) fine dining restaurants within the development and must be on the northern part of the development a minimum of 1,600 feet from front gates of Turner Field. Retail, office, hotel and residential unit specifications See Exhibit B No adult entertainment clubs, pawn shops, tattoo parlors, liquor stores, title loan shops, automotive shops or other industrial business or any establishments that may be offensive or vulgar to the community or Braves fans. Development must include deck parking to accommodate 8,600 cars for use during all games by ANLBC. Development must include additional transit options (maglev, light rail, bus, trolley, etc.) and ingress and egress improvements.

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Turner Field Operating Agreement Renewal Requirements Capital Improvements listed in Exhibit C to be made to Turner Field in 3 phases 2016, 2017 and 2018. ANLBC to fund $50M of improvements, AFCRA to fund $50M and City/County to fund other $50M over the 3-year period (2016 2018). Capital Improvements going forward after 2018 to be funded 50/50 by ANLBC and AFCRA/City/County until such time as development is generating annual minimums set forth above ($10,000,000) after which time ANLBC will assume 100% of Capital Improvement funding obligation. AFCRA oversight to end in 2014 (including relinquishment of Turner Field office space) and ANLBC to deal directly with City of Atlanta. ANLBC to assume management and oversight of all parking agreements and special events at Turner Field including GSU and County parking agreements. ANLBC and AFCRA/City/County will amend and restate current Operating Agreement and extend term for an additional 20 years.

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EXHIBIT A LIST OF ANLBC EXCLUSIVE SPONSORSHIP CATEGORIES

Sporting Goods Wireless Services and Devices Moving Companies Non-alcoholic Beverages Alcoholic Beverages Internet, Cable and other new media platforms Airline Credit Reporting Gas Provider Power Provider Cooling, Heating & Plumbing Companies Credit Card Banks and Financial Services Auto Parts Hospital Home Improvement Waste Management

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EXHIBIT B RETAIL, OFFICE, HOTEL AND RESIDENTIAL SPECS Phase One 250 Apartment Homes 175 Hotel Rooms 25 Condo and Townhome Units 10,000 feet of retail square footage 50,000 feet of restaurant/entertainment square footage

Phase Two 250 Apartment Homes 200 Hotel Rooms 25 Condo and Townhome Units 10,000 feet of retail square footage 75,000 Office space square footage 50,000 feet of restaurant/entertainment square footage

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EXHIBIT C 2016 2018 CAP EX LIST See Attached List reflecting approximately $153M of infrastructure related capital expenditure needs for Turner Field. Note attached list does not include approximately $80M in ANLBC desired architectural related improvements which will drive additional revenue opportunities and will keep Turner Field competitive with other MLB venues.