X0306 4 2019-12-13 0 0001574197 Five Point Holdings, LLC FPH 0001704041 Alvarado Michael C/O FIVE POINT HOLDINGS, LLC 15131 ALTON PARKWAY, 4TH FLOOR IRVINE CA 92618 0 1 0 0 See Remarks Class A common shares 2019-12-13 4 M 0 16676 A 55065 I By trust Class A common shares 2019-12-13 4 M 0 5 A 55070 I By trust Class A common shares 451494 D Class A units of Five Point Operating Company, LP 2019-12-13 4 M 0 16676 D Class A common shares 16676 0 I By trust Class B common shares 2019-12-13 4 M 0 16676 D Class A common shares 5 0 I By trust In accordance with the Limited Partnership Agreement of Five Point Operating Company, LP (the "Operating Company"), after May 2, 2017, the holder may tender such Class A units of the Operating Company for redemption, and will receive in exchange therefor one Class A common share of Five Point Holdings, LLC (the"Company") or cash, at the option of the Company. The Class A common shares and Class B common shares of the Company and Class A units of the Operating Company are owned by The Michael A. and Julie S. Alvarado Family Trust created u/t/d dated July 9, 2002, of which Mr. Alvarado serves as the sole trustee. Mr. Alvarado holds 16,676 Class B common shares. Each Class B common share was issued with a Class A unit of the Operating Company. If the holder tenders any Class A units of the Operating Company for redemption, then an equal number of Class B common shares will automatically convert into Class A common shares of the Company. Also, if the holder attempts to transfer any Class B common shares to anyone other than certain permitted transferees, then such Class B common shares will automatically convert into Class A common shares of the Company. In either case, the conversion ratio is 0.0003 Class A common shares for each Class B common share. Chief Legal Officer, Vice President and Secretary /s/ Michael Alvarado 2019-12-17