COME TO HENDERSONVILLE (HENDO, TO LOCALS)

Hendersonville is a historic city that is part of the Western North Carolina/Asheville corridor. A mere 15-minute drive to the Asheville Regional Airport, Hendersonville is one of the most accessible cities in North Carolina, with direct flights from New York, Boston, Fort Lauderdale, Dallas, Las Vegas, and many more. International visitors also have quick access via hubs in Charlotte and Atlanta.

A LITTLE SOMETHING FOR EVERYONE

It’s the second largest city center in the region, neither too big nor too small. And, its location puts it right in the middle of anything you could ever dream to do. For those who love the outdoors, the city is at the foot of Pisgah National Park and the DuPont State Recreational Forest. Each offers hiking, biking, and more. The Sierra Nevada Brewing Company and North Carolina pit-smoked barbecue sit alongside world-class fine dining, a thriving arts scene, and Broadway-style theatre.

Revenue and Return of Capital

EB-5 capital will be repaid from both condominium sales and income generated by the property. Total gross sales from Pisgah Tower, Dupont Tower, and the Townhomes are expected to be $243,589,795, leaving sufficient room to pay back the EB-5 loan. Fairmont Heritage Place – The Cedars will also generate significant income from (i) the short-term rental (hotel) program and (ii) food and beverage sales. These projected revenues are:

2027: $8,131,000

2028: $10,013,000

The preceding financial projections reflect the Company’s best estimated forecasts and are not guaranteed to be accurate. These figures are forward-looking statements and reflect the Company’s views about various future events or expectations, with some of these views detailed in the “Key Assumptions” section of this Summary. These figures take into account known and unknown risks, uncertainties and other factors and assumptions which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by this forward looking financial projection. Please see thenote regarding forward-looking statements and the “Risk Factors – Summary” for more information about the risks related to these projections. Additional details are available in the data room for further review.

Fairmont is an iconic hospitality brand known for exceptionally elegant hotel properties in many of the world’s most extraordinary cities and vacation destinations. It is owned by Accor, which is the sixth largest hospitality company worldwide, operating in 5,300 locations in over 110 countries.

Branded-Residence Ownership

Ownership of a branded residence by Fairmont provides value and benefits resulting from its long, global experience in the hospitality and real estate sector. Owners can live in their units, rent them independently, or place them in the Fairmont-managed short-term rental program, allowing Fairmont to rent the units as traditional hotel rooms. Unit owners enjoy:

• Distinction as a property by a known and respected brand
• VVIP status in the Accor Ownership Benefits Program
• Assurance of privacy, exclusivity, luxury, and prestige
• Excellence in design and innovation
• Professional management
• 24/7 on-demand services

The World of Accor

Hospitality brands owned by Accor span the globe and set a level of excellence and innovation that is appreciated by the world’s most discerning travelers.

“Fairmont Heritage Place – The Cedars (“Residential Project”)” is not owned, developed, or sold by Accor Hotels & Resorts (Maryland) LLC or its affiliates. Cedars Lodge & Spa, LLC, a North Carolina limited liability company (“Licensee”), is independently owned and operated and is solely responsible for the ownership, development, and operation of the Residential Project. Licensee uses the Fairmont Brand and certain Fairmont trademarks pursuant to a limited, nonexclusive, non-transferable and non-sub licensable license from Accor Hotels & Resorts (Maryland) LLC.

Fairmont's Unrivaled Presence

Fairmont has a worldwide footprint with 81 hotels and 28 under development, including luxury hotels, private residences, and a sense of belonging across all properties and residences.

Fairmont’s brand covers the globe and represents the best of the best.

Consider Fairmont Heritage Place - The Cedars For Your EB-5 Investment

This $21,000,000 EB-5 offering will provide 20 investors and their families the opportunity to obtain lawful permanent residency in the United States. The offering proceeds will be used to fund construction of the Fairmont Heritage Place – The Cedars in Hendersonville, North Carolina.

Specifically, this EB-5 Project will consist of the construction of two six-story towers (Pisgah and Dupont respectively) featuring a total of 130 Fairmont branded residences, and the renovation and restoration of the historic Cedars Hotel located on-site, which will feature signature Fairmont amenities.

The Fairmont-branded residences will consist of impeccably designed units ranging from studios of approximately 500 SqFt to Penthouses of up to 3,635 SqFt.

This world-class property is designed as a private resort and will house a signature Fairmont operated restaurant, multiple pools, a spa, and more. Fairmont Heritage Place – The Cedars is owned and developed by Cedars Lodge & Spa, LLC which is managed by well-known real estate developer Gregg Covin.

EB-5 investors should seek to minimize immigration-related risks by selecting an EB-5 project that has already received Form l-956F approval. USCIS will only approve an investor’s EB-5 petition (Form l-526E) once the associated project has received this approval.

On May 14, 2024, the Fairmont Heritage Place – The Cedars EB-5 project received Form l-956F approval. This means that the project’s business plan and structure meet all EB-5 program requirements.

This approval significantly minimizes investor risk and accelerates I-526E adjudication processingtimes.

Expected Return of Capital in Three Years

USCIS has confirmed the shortened investment sustainment period described in the EB-5 Reform and Integrity Act of 2022. This has enabled the Fairmont Heritage Place — The Cedars EB-5 project to provide a three-year loan term to EB-5 investors— one of the shortest EB-5 loan terms on the market.

Due to (i) strong presales, (ii) an executed 3-year loan agreement, and (iii) an intercreditor agreement signed by the senior lender, this is one of the few EB-5 projects on the market in a position to return EB-5 capital in three years.

The three year loan term will have a one-year extension option, exercisable with the mutual consent of the lender and borrower.

• EB-5 funds will be used to fund construction of Phases I and II.

• Primarily, EB-5 investor payback will come from Phase I, II, and III sales.

• As of December 2024, the Pisgah Tower is more than 90% pre-sold. Overall, 63 out of 118 units in Pisgah and Dupont have pre-sold.

• Recent condominium sales have reached $1,100 p/s/f, including a $2.7mm penthouse sale in the Pisgah Tower.

The developer has secured a senior revolving construction loan with a maximum balance of $32mm. The developer will use the first $32mm to partially fund construction of the Pisgah Tower. Once the $32mm has been paid back (through condo sales and operations), the developer can continue to access to up to $32mm of senior loan proceeds at a time. Because this is a ‘revolving’ loan, there will never be more than $32mm of senior loan proceeds ahead of the EB-5 loan.

Senior Loan

The project has secured a senior revolving construction loan from Fuse Group Funding with a maximum balance of$32.0 million.

• This loan is being used to fund construction of the Pisgah Tower. Then, revenues generated through sale/operations of the Pisgah Tower will be used to repay the drawn balance.

• Once repaid, the Developer will use the senior revolving loan to fund construction of the Dupont Tower. Once again, sales/operations from the Dupont Tower will be used to repay the drawn balance.

Senior Loan and EB-5 Loan Security

• The Senior Loan is secured by a first recorded security interest on the property in favor of Fuse Funding. The EB-5 Loan is secured by the second-recorded security interest on the property.

• The benefit of the ‘revolving’ loan is that there will be at most $32 million ahead of the EB-5 loan’s second-lien position.

• An Appraisal Report prepared by CBRE, Inc. estimated The Fairmont Heritage Place – The Cedars to be valued at $164,500,000 at completion, far exceeding the debt on the property.

• Revenue generated by Dupont tower sales and Phase III Townhouse sales will be used to repay remaining senior and EB-5 loans.

The Project Has Fully Repaid Its First EB-5 Investor

To complete its capital stack, the Fairmont Heritage Place-The Cedars project has borrowed $4,500,000 of redeployed EB-5 investment funds.

In September 2024 and in accordance with the EB-5 redeployment loan agreement, the project developer fully repaid the first EB-5 redeployment investor eligible for repayment.

This full repayment highlights:

1)The strength of the project and its condominium sales.

2)The developer's commitment to timely repaying EB-5 investors.

Past performance is not a guarantee of future results

JOB CREATION

To qualify for an EB-5 visa, the EB-5 project must create ten jobs for each EB-5 investor. As a Regional Center sponsored project, direct, indirect, and induced jobs may be counted towards this job creation requirement.

The EB-5 Economic Impact Analysis performed states that the Fairmont Heritage Place – The Cedars will generate 686.2 permanent and full-time jobs as a result of its construction and operations.

Each EB-5 investor will be assigned approximately 34.3 jobs, more than 3x USCIS requirements.

CONCURRENT FILING EXPLAINED

The EB-5 Reform and Integrity Act of 2022 (RIA) significantly improved the EB-5 process. For the first time, a qualifying individual present in the U.S. may simultaneously file his/her Form I-526E (EB-5 Petition) and Form I-485 (application to adjust status). This means that EB-5 investors present in the U.S. can now live in the U.S. while awaiting adjudication of their EB-5 petitions.

EB-5 investors (and their spouses and dependents) present in the U.S. admitted in valid non-immigrant visa categories such as H-1B, E-2, F-1, or L-1 can now (i) remain in the U.S.,(ii) obtain work authorization, and (iii) obtain travel permits.

For instance, F-1 students can now remain in the U.S. after graduation without the obligation to find training or an employer sponsor. This provides them with unprecedented freedom to engage in entrepreneurship and not be tied to one specific employer.

Gregg Covin is the Manager of Cedars Lodge & Spa, LLC. Over the last 25 years, Gregg Covin has set the standard for cutting-edge developments in the region. His portfolio highlights include:

One Thousand Museum

In 2012, Covin and his partners acquired the last remaining waterfront skyscraper site in Downtown Miami and commissioned Renowned architect Zaha Hadid to design her first tower in the Western Hemisphere. The 709-foot-tall One Thousand Museum was completed in 2018 and has been setting price records including a $20 million penthouse sale to soccer star David Beckham.

Ten Museum Park

In 2007, Covin completed development of the world-famous Ten Museum Park mixed-use tower on the Downtown Miami waterfront. This 50-story crystalline tower was designed by Chad Oppenheim and sold out all 200 condominiums in nine days. The tower features an outpost of the number one-ranked spa in the world and was developed in conjunction with the world-famous Clinique La Prairie of Switzerland.

Kimpton Angler’s Hotel

Covin’s Angler’s Hotel was a massive urban revitalization project as it encompassed the entire 600 Block of Washington Avenue in Miami Beach. This hotel was designed by the world-famous designer of the Versace Mansion, the late Wallace Tutt, and was awarded the Dade Heritage Award for Historic Preservation. It is now known as the Kimpton Angler Hotel.

Construction Team

General Contractor—Turner Construction, LLC

With a staff of over 10,000 employees in over 20 countries, the company completes $12 billion of construction on 1,500 projects each year. Representative projects include the 73-story Wilshire Grand Hotel in Los Angeles, California, and The Terranea Resort in Rancho Palos Verdes, CA, a 360-room luxury hotel tower with 102 acres of infrastructure.

Architect—RBA Group, Inc.

Formed in 1999, the firm has worked on projects in 26 states, including the Hyatt Place in Asheville, NC, Homewood Suites in Charleston, SC, and other breweries, restaurants, and medical parks.

Civil Engineer—Civil Design Concepts, PA.

Headquartered in Asheville, NC, Civil Design Concepts has completed over 1,700 site development projects throughout Western North Carolina, Eastern Tennessee, and upstate South Carolina.

Fairmont Heritage Place — The Cedars Construction Photos

As of December 2024, the team is constructing the fifth floor of the Pisgah Tower (Phase I) and the Pisgah Tower elevator shafts.

Turner Construction has a dedicated team on site building the project. The Pisgah Tower is expected to be completed in Q3 2025.

Bennett Blachar, Co-Manager ofthe NCE Manager

Bennett Blachar, an attorney licensed in Florida and New York, gained his initial experience in the EB-5 industry while working at Saul Ewing Arnstein & Lehr LLP, a reputable firm that represents developers and EB-5 investors. Currently, he is the general counsel for both EB5 for Florida Regional Center and EB5 Restaurants, LLC. These organizations are trailblazers in the restaurant sector of the EB-5 industry and have successfully raised EB-5 investment capital for renowned chefs and brands that have received James Beard and Michelin Star awards. As general counsel, Mr. Blachar provides advisory services to three distinct EB-5 investment funds.

Jennifer Zawid, Co-Manager of the NCE Manager

Jennifer Zawid, is a Florida-barred attorney who also holds an LLM in Real Property Developmentfrom the University of Miami School of Law. She has extensive experience in the EB-5 field having previously held postions at LCR Capital Partners, where she was involved in business development and legal and compliance matters and Fort Partners, focusing on real estate acquisitions, EB-5, and general legal matters. Ms. Zawid has also served as an Enforcement Attorney with the U.S. Securities and Exchange Commission, and as a Staff Attorney at the U.S. Department of Justice/Civil Division/Office of Immigration Litigation.

Michael Conaghan, Co-Manager of the NCE Manager

Michael Conaghan is a seasoned real estate professional with a career spanning over 37 years. He has an extensive background in residential, hospitality, and mixed-use real estate properties, as well as extensive expertise in development, debt and equity finance, acquisition, disposition, and asset management. Throughout his career, Mr. Conaghan has successfully handled significant debt and equity transactions totaling over $4.5 billion. He was a founding partner at Fort Partners, LLC, where he oversaw all property acquisition, financing, structuring, and dispositions, and was instrumental in the development of their award winning luxury hotels and condominiums, including renowned properties such as the Four Seasons Hotels in Surfside, Palm Beach, Miami, and Fort Lauderdale, Florida. Prior to that, he held prominent positions in development, finance and asset management for notable companies such as GreatWolf Resorts and life insurance companies.

Spencer Bernstein, Co-Manager of the NCE Manager

Mr. Bernstein holds the position of Managing Director at EB5 Restaurants, LLC, a pioneering company in the restaurant sector of the EB-5 industry. He is also an associate at EB5 for Florida Regional Center. With a Bachelor of Arts degree from Stetson University, Mr. Bernstein primarily focuses on fund administration, sales, and marketing. When the EB-5 Regional Center program lapsed in 2021-2022, he helped EB5 Restaurants, LLC raise over $10million of EB-5 funds through direct EB-5 restaurant offerings.

Regional Center Experience

The project is sponsored by EB5 Affiliate Network State of North Carolina Regional Center, part of the EB5 Affiliate Network – the largest EB-5 regional center operator in the U.S.

With more than 10 USCIS-approved regional centers covering 20+ states, EB5 Affiliate Network has raised more than $900 million of EB-5 funds and has sponsored over 1,800 EB-5 investors. Through its Regional Center projects, EB5 Affiliate Network has created more than 34,000 EB-5-qualifying jobs and has a 100% approval rate on USCISadjudicated projects.

In addition, the EB5 Affiliate Network team has industry-leading EB-5 and real estate knowledge, having been involved in more than $3 billion of leveraged buyouts, IPOs, and real estate development.

As its Regional Center Sponsor, EB5 Affiliate Network will oversee Regional Center compliance for The Fairmont Heritage Place – The Cedars EB-5 project.

Projected Unit Sales Per Year by Unit Type

Projected Sales Revenue by Unit Type ($ in 000s)

Participation in the short-term rental program is expected to be 70%.

Room expenses are assumed to be 25% of room revenue.

The majority of the units in Pisgah Tower have already been sold. Sales are expected to increase in volume when construction of the first tower is finished.

An investment in the Interests described in this Summary involves certain risks. You should carefully consider all of the following risk factors, in addition to all of the information contained in this Summary and the PPM prior to investing in the Interests. The risk factors described below are not the only ones facing the NCE and the Portfolio Investments. Additional risk factors not presently known or that are currently deemed immaterial may also impair the Fund’s business operations. The Fund’s business, financial condition, results of operations or prospects could be materially and adversely affected by any of these risks. If any of the following risks occur, the Fund's business, financial condition, or results of operations could be seriously harmed. In such a case, an investor could lose all or part of its investment.

Risks Related to Real Estate and Financing of Real Estate

• Investment in the NCE is subject to general real estate risks.

• The NCE will rely on third parties to develop and construct the Project.

• The timing of completion of the Project is not guaranteed.

• The rights of the NCE under the Loan may be subordinated to the rights of the Senior Lender and other third parties.

• The NCE’s rights may become worthless following a default under the Senior Loan.

• There can be no assurance that the Developer Group will have sufficient funds to complete the Project and, in particular, the availability of the Senior Loan is subject to action by third parties over which the Developer Group and the NCE have no control.

Risks Related to the Offering and the Units

• No Diversification of Investment.

• An investment in the NCE requires a long-term commitment with no certainty of return.

• The availability and timing of cash distributions is uncertain.

• The NCE Manager, through its control of the NCE , represents the interests of both the NCE Manager and the Members under the Escrow Agreement.

• The NCE Manager and the NCE may from time to time be subject to conflicts of interest.

• The Members will not have an opportunity to negotiate the terms of the Operating Agreement.

• A Member’s partially funded Subscription Amount may be released from Escrow.

Risks Related to Regional Center Designation and the EB-5 Program

• The Regional Center may lose its USCIS designation as a regional center.

• Forthcoming New Regulations may impact the NCE’s interpretation of the requirements of the RIA.

• It is not clear how USCIS will interpret the RIA and/or the Forthcoming New Regulations with respect to I-526E Petitions and I-829 Petitions.

• The Regional Center designation relies on the provisions of the Settlement Agreement.

• The Regional Center has filed an Amendment, which is not guaranteed to be approved.

• Impacts of the RIA and the Forthcoming New Regulations on I-526E adjudications are unclear.

The list of Risk Factors above is non-exhaustive and any potential investor should review the “Risk Factors” section of the PPM for additional risks and a discussion of all risks identified therein.

This communication (the “Summary”) was prepared by Carofin, LLC (the “Placement Agent”) with information provided by Cedars Lodge and Spa EB-5 Funding LLC (the “Company” or “NCE”) for the sole purpose of allowing the Placement Agent to identify whether enough demand for the securities described herein exists within its investor base. No money or other consideration is being solicited, and if sent in response, will not be accepted. A person’s indication of interest involves no obligation or commitment of any kind. No offer to buy the securities can be accepted and no part of the purchase price can be received until any potential investor receives and reviews a private placement memorandum (the “PPM”) more fully describing the securities. THIS SUMMARY IS QUALIFIED IN ITS ENTIRETY BY THE CONTENTS OF THE PPM.

Please see “Important Disclosures” for other important information concerning this Summary and the securities described herein.

Caution Regarding Forward-Looking Statements

This Summary contains forward-looking statements that are based on the Company's current views and assumptions and involve a number of risks and uncertainties that could cause actual results to differ materially. These statements include, but are not limited to, projections of its operating and financial metrics. These forward-looking statements are typically identified by terms and phrases such as "anticipate," "believe," continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will," and similar expressions.

These forward-looking statements, wherever they occur in this Summary, are estimates reflecting the best judgment of the management of the Company. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Forward-looking statements should, therefore, be considered in light of various important factors, including those set forth under "Risk Factors" and elsewhere in this Summary and the PPM. The Company has no obligation to revise or update any forward-looking statement for any reason.

These securities have not been registered with the Securities and Exchange Commission (the "“SEC” or the “Commission”), or with any state securities commission or any other regulatory authority. The securities are being offered in reliance upon an exemption from the registration requirement of federal and state securities laws and cannot be resold unless the securities are subsequently registered under such laws or unless an exemption from registration is available. Neither the SEC nor any other agency has passed on, recommended or endorsed the merits of this offering (this “Offering”) or the accuracy or adequacy of this Summary. Any representation to the contrary is unlawful.

These securities are offered through Carofin, LLC, Member of FINRA/SIPC. Carolina Financial Securities is an affiliate of Carofin and both Broker-Dealers are affiliates of Carolina Financial Group, LLC. Documents have been prepared by Carolina Financial Securities and have been reviewed and approved by the management of the Company. The information contained herein has not been independently verified and is dependent on information provided by the Company to Carolina Financial Securities, LLC.

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Private placements are high risk and illiquid investments. As with other investments, you can lose some or all of your investment. Nothing in this document should be interpreted to state or imply that past results indicate future performance, nor should it be interpreted that FINRA, the SEC or any other securities regulator approves of any of these securities. Additionally, there are no warranties expressed or implied as to accuracy, completeness, or results obtained from any information provided in this document. Investing in private securities transactions bears risk, in part due to the following factors: there is no secondary market for the securities; there is credit risk; where there is collateral as security for the investment, its value may be imped if it is sold. Please see the Private Placement Memorandum (PPM), and the complete list of contents of this Offering Package for a more detailed explanation of the securities Summary of Terms, Investor Suitability Standards, Confidentiality, Securities Matters and Risk Factors.