Investor Presentaiton

W 15,000 10,000 5,000 1994 25,000 limited new platted lots is hurting new home construction . . . 20,000 1994-2007 average = 14,229 WISCONSIN SCHOOL OF BUSINESS UNIVERSITY OF WISCONSIN-MADISON TOGETHER FORWARD® JAMES A. GRAASKAMP CENTER for REAL ESTATE Total Platted Lots in Wisconsin 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2008-2022 average = 3,584 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Source: WRA and Graaskamp Center.

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