Investor Presentaiton

. • property values have declined broadly over the past year. Change in Commercial Property Values 5% 0% 0.0% -5% -10% -15% -20% -11.6% -15.9% Past Month Past 12 Months From Recent Peak WISCONSIN SCHOOL OF BUSINESS UNIVERSITY OF WISCONSIN-MADISON TOGETHER FORWARD® JAMES A. GRAASKAMP CENTER for REAL ESTATE Change in Property Values Source: Green Street, August 4, 2023.

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