1.
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China Investment Corporation (“CIC”) is the parent of CIC International Co., Ltd. (“CIC International”), which is the parent of each of Stable Investment Corporation (“Stable”) and Best Investment Corporation (“Best” and, together with CIC and Stable, the “Reporting Persons”). Prior to the Transactions (as defined below), Stable and Best held a collective 99.499848% ownership interest in Brookfield Retail Holdings III LLC (“BRH III”) (subject to a “carry interest” held by the managing member thereof). Subsequent to the consummation of the Transactions, Stable and Best have no ownership interest in BRH III and no beneficial ownership in any shares of common stock of the Issuer (“Shares”) held by BRH III.
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2.
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CIC International is the parent of another wholly owned subsidiary through which CIC indirectly holds an additional 4,917 Shares. The amount in Table I, Column 5 above includes such 4,917 Shares, but Stable and Best do not have any beneficial ownership of such Shares.
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3.
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On November 1, 2013, BRH III entered into agreements providing for, among other things, (i) the sale by BRH III of 19,528,869 shares of common stock, par value $0.01 per share (the “GGP Common Stock”), of General Growth Properties, Inc. and all of the warrants to purchase shares of GGP Common Stock held by BRH III that are attributable to the interests of Stable and Best and (ii) the distribution by BRH III to Stable and Best, in complete redemption of the interests of Stable and Best in BRH III, of (A) $ 584,731,721 from the funds received in the sale transactions described in clause (i), (B) 1,980,893 Shares held by BRH III, which shares are all of the Shares held by BRH III that are attributable to the interests of Stable and Best and (C) 33,516,396 shares of GGP Common Stock held by BRH III (collectively, the “Transactions”). The number of Shares reported on this Form 4 as being disposed of are Shares that were previously reported as Shares owned by the Reporting Persons that were attributable to the carry interest of the managing member of BRH III. In addition, as a result of the Transactions, the form of beneficial ownership in Shares owned by the Reporting Persons has changed as disclosed herein.
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4.
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Each of the Reporting Persons disclaims any beneficial ownership of the Shares reported herein except to the extent of its pecuniary interest therein.
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/s/ Ding Xuedong_____________________________________
Ding Xuedong, China Investment Corporation
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11/5/2013
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/s/ Li Keping________________________________________
Li Keping, Stable Investment Corporation
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11/5/2013
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/s/ Li Keping________________________________________
Li Keping, Best Investment Corporation
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11/5/2013
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