CITY AND COUNTY OF DENVER, COLORADO FOR AND ON BEHALF OF ITS DEPARTMENT OF AVIATION VOLUNTARY EVENT NOTICE RELATING TO EXERCISE OF RIGHT TO TERMINATE FOR CONVENIENCE BY OWNER The City and County of Denver, Colorado (the “City”), through and on behalf of its Department of Aviation (the “Department”), and Denver Great Hall LLC (“DGH”) entered into a Development Agreement dated as of August 24, 2017 (the “DA”). Pursuant to the DA, DGH, among other things, has agreed to design, construct, finance, operate and maintain certain areas within the Jeppesen Terminal (the “Terminal”) at the Denver International Airport (referred to as the “Great Hall Project”). Capitalized terms used but not defined herein have the meanings given them in the DA. On August 12, 2019, pursuant to Section 21.2 of the DA, the City exercised its right to terminate the DA for convenience. The City’s Notice of Termination for Convenience is attached hereto as Appendix A. The City intends to continue with key aspects of the Great Hall Project, however without DGH. The City will update the market with the details of the continuation of renovation of the Terminal as such information becomes available. For additional information about the Great Hall Project and the Airport, see the Official Statement related to the City and County of Denver, for and on behalf of its Department of Aviation, $2,341,710,000 Airport System Subordinate Revenue Bonds, Series 2018A and $184,365,000 Airport System Subordinate Revenue Bonds, Series 2018B, available on Electronic Municipal Market Access system. Dated: August 12, 2019 APPENDIX A DMWEST #38115290 v3 2 August 12, 2019 Mr. Ignacio Castejon Hernandez - CEO Denver Great Hall, LLC 24735 East 75 th Avenue, Suite 100 Denver, CO 80249-6340 RE: Notice of Termination for Convenience Dear Mr. Castejon Hernandez, Any references in this letter to the Development Agreement, shall mean the agreement dated as of August 24, 2017, as amended by Amendment No. 1 dated as of December 21, 2017 (as amended, the "DA") between Denver Great Hall LLC ("Developer") and the City and County of Denver, through and on behalf of its Department of Aviation (the "Owner"). Capitalized terms not otherwise defined in this letter have the meanings set forth in the DA. Nothing in this letter modifies or waives any rights or obligations in the DA. Under Section 21.2 of the DA, "[t]he Owner may, in its sole discretion, terminate th[e DA] in whole if the Owner determines that a termination is in the Owner's best interest[.]" The Owner has determined that such termination is in the best interest of the Owner. As such, the Owner hereby exercises its right to terminate the DA pursuant to Section 21.2 thereof. Pursuant to Section 21.2.1 of the DA, termination shall be effective on November 12, 2019, which is at least 90 days following the date of delivery of this Notice of Termination (the "Termination Effective Date"). [SIGNATURE PAGE FOLLOWS] ~ DENVER tD' THE Mil£ Hl