YarrowBay Holdings, City of Maple Valley Reach Tentative

Agreement on Transportation Improvements

Maple Valley, Wash. – September 22, 2010 –YarrowBay Holdings and the City of Maple Valley
have reached a tentative agreement regarding fifteen transportation improvements within Maple
Valley for YarrowBay’s two master planned developments in Black Diamond. Based on this
tentative agreement, YarrowBay Holdings will make contributions to the transportation
infrastructure in Maple Valley. The details of those contributions will be released once the
agreement is finalized.

“YarrowBay is committed to supporting the communities in which we work and infrastructure

improvements are a crucial part of delivering on our commitment to create communities that
enhance the lives of residents,” said Brian Ross, managing partner of YarrowBay.

“We are pleased to reach a a tentative agreement with YarrowBay, and will work diligently with
YarrowBay to finalize our agreement. The infrastructure improvements are designed to improve
traffic mobility and mitigate the effects of the traffic expected from YarrowBay’s master planned
communities south of our City boundary,” said David Johnston, City Manager of Maple Valley.