Investor Presentaiton

2,593 2025 HOUSING PROJECTIONS Model 1: New housing units by 2025 if current Model 2: New housing needed by 2025 based building trends continue 372 323 151 on population projections Model 1 Model 2 8,527 1,137 196 6,570 -167 -23 3,612 3,040 451 -40 -675 -932 Region | Region Region III Region IV Region V Region VI Region Region VII VIII Population projections would suggest more moderate housing needs compared to recent building trends. Projected housing needs 9,285 housing units. 10,280 if you don't net out the negative numbers. The negative numbers in some regions suggest current inventory and housing needs fairly well aligned. Source: U.S. Census Bureau and the Center for Social Research (2022b)

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