Income Opportunities REIT

CNSREIT terms summary Structure Suitability Standards Investment Strategy Investment Guidelines Sponsor/Advisor Maximum Offering(1) Offering Price (2) • Minimum Initial Investment (3) Target leverage (4) Sponsor commitment (5) Non-listed, perpetual life real estate investment trust (REIT) Available to investors with either (1) a net worth of at least $250,000 or (2) a gross annual income of at least $70,000 and a net worth of $70,000. Additional suitability standards are applicable to investors in certain states Primarily to acquire high quality, income-focused stabilized commercial real estate assets primarily within the United States At least 80% in real estate investments and up to 20% in real estate-related securities, cash and/or cash equivalents Cohen & Steers, Inc. / Cohen & Steers Capital Management, Inc. $3 billion Each class of shares is sold at the then-current transaction price, which is generally the prior month's NAV per share for such class, plus applicable upfront selling commissions and dealer manager fees NAV per share, which will generally be equal to our transaction price, will generally be available within 15 calendar days of month end • Transaction price will be available on www.cnsreit.com and in prospectus supplements • $2,500 per investor for Class F-D, F-T, F-S, D, T and S shares; $1,000,000 for Class F-I and I shares $500 minimum for subsequent investments 50-65% (may vary based on market conditions) $125 million At December 31, 2022. Source: Cohen & Steers Terms summarized herein are for informational purposes and qualified in their entirety by the more detailed information set forth in CNSREIT's prospectus. You should read the prospectus carefully prior to making an investment. There is no guarantee that any investment objective above will be realized. (1) We may register additional shares in the future. (2) We may offer shares at a price that we believe reflects the NAV per share of such stock more appropriately than the prior month's NAV per share, including by updating a previously disclosed offering price, in cases where we believe there has been a material change (positive or negative) to our NAV per share since the end of the prior month. For further information, please refer to the "Net Asset Value Calculation and Valuation Guidelines" in the prospectus, which describe our valuation process and the independent third parties who assist us. (3) Select broker-dealers may have different standards to determine the appropriateness of this investment for each investor, may not offer all share classes, and/or may offer CNSREIT at a different minimum initial investment. The minimum initial investment for Class T, Class S, Class D, Class F-T, Class F-S or Class F-D common stock is $2,500. The minimum initial investment for Class I and shares of our Class F-I common stock is $1,000,000, unless waived by the dealer manager. (4) Our leverage ratio is measured by dividing (i) consolidated property-level and entity-level debt, net of cash and loan-related restricted cash (but excluding leverage on our securities portfolio, including listed REITs), by (ii) the asset value of real estate investments (measured using the greater of fair value and purchase price). (5) Cohen & Steers has committed to invest an aggregate of $125 million through in Class P shares and Class I shares. As of December 31, 2022, Cohen & Steers has not funded any portion of this commitment, other than the initial capitalization of the Company consisting of a $200,000 investment by the Advisor in exchange for 20,000 shares of the Company's Class I shares. Cohen & Steers has agreed to hold all of the Class P shares and Class P units it owns as part of its seed investment for two years from the date of the initial commitment, after which any repurchase requests would be subject to the Company's share repurchase plan. The Company will only repurchase Class P shares, or other shares, held by Cohen & Steers after all other stockholder repurchase requests have been processed (except with respect to repurchases of shares of common stock that the Advisor has received in lieu of a management fee). 29 COHEN & STEERS

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