These materials do not constitute an offer to sell, nor a solicitation of an offer to buy, to residents or citizens of any jurisdiction (including the United States of America) in which registration is required or where other legal requirements in such jurisdiction have not been fulfilled. All illustrations are artists’ conceptual renderings (or photographs included for illustrative purposes) that may not reflect the project or residences as currently designed or as may ultimately be constructed and are subject to change without notice. The Baha Mar project is owned, offered, marketed, sold, constructed and developed by Baha Mar Ltd. (“Developer”) NOT by Rosewood Hotels and Resorts, L.L.C.; Morgans Hotel Group Management LLC; or Hyatt Corporation; or any of their affiliates (collectively, the “Brands” and individually as “Brand”). All registered trademarks, trade names, and photos and product / facility depictions (collectively “Intellectual Property”) of the respective Brands are owned by each Brand, as applicable, and such Intellectual Property has been included for illustrative purposes only. Developer has entered into a Marketing License Agreement with each Brand pursuant to which Developer has the right to offer and sell residential units in a development to be known as the “Grand Hyatt at Baha Mar”; “Rosewood at Baha Mar”, and “Mondrian at Baha Mar” respectively (the “Residences Component”) using the name “Hyatt,”, “Rosewood, and / or “Mondrian” respectively together with certain trademarks and Intellectual Property which are owned by, licensed to, utilized by, or otherwise associated with the Brands (collectively, the “Brand Trademarks”). Additionally, Developer and Brands have entered into a series of contractual agreements (collectively, the “Residential Agreements”) pursuant to which Brands will (i) oversee and supervise the operation of the Residences Component on behalf of the Developer and (ii) allow the Brand Trademarks to be used in connection with the branding and operation of the Residences Component. The Brand Trademarks will not be associated with the Residences Component, or any residential unit situated within the Residences Component, upon termination of the Residential Agreements for any reason whatsoever. If the Residential Agreements are terminated, the Residences Component will be required to cease using the Brand Trademarks. Accordingly, a purchaser should not acquire a unit within the Residences Component with the expectation that the Brand Trademarks will continue to be associated with the Residences component during his or her entire period of ownership. The right and license to use the Brand Trademarks is not part of the common premises or otherwise included in the purchase of any unit within the Residences Component. Neither any purchaser of any residential unit, nor any community association constituted with respect to the Residences Component or any segment thereof, shall have any right, title or interest in and to the name “Hyatt”; “Rosewood” and / or “Mondrian” respectively or any of the Brand Trademarks. There exists no joint venture, joint enterprise, partnership, ownership or similar relationship between the Developer and any of the Brands as to the Hotel or the Residences. The Brands have no ownership interest in the Residences Component. The Brands do not have any responsibility for the offering, marketing, sale or solicitation of units within the Residences Component. The Brands are not responsible for construction of the Residences component, obtaining required permits, licenses and approvals to develop the Residences Component and sell units within the Residences Component, or ensuring that the units within the Residences Component are sold in accordance with applicable laws, codes, ordinances and other governmental requirements. Under no circumstances shall the Brands be deemed to have made any representation or warranty to any purchaser of a unit within the Residences Component with regard to the foregoing matters or any other matter whatsoever. The Brand’s retention and exercise of rights of approval or inspection with respect to the marketing and sale of units within the Residences Component are for the sole purpose of protecting the reputation and integrity of the Brands’ Trademarks. Any purchase of a Residence should be for personal use and enjoyment and should be without reliance upon any potential for future profit, any rental income potential, economic or tax advantages, appreciation, depreciation or investment potential that may or may not be derived or realized from the ownership of a Residence, or any monetary or financial advantage with respect thereto or from voluntary participation in the Rental Program.