Investor Presentaiton

• . property values fell in late 2022/early 2023 but have stabilized. . . . Cumulative Change in CPPIⓇ: Past Seven Years 125% 100% 75% 50% 25% 0% Indust Man Home Self-Storage -Apartment -Lodging Health Care Net Lease Strip Retail -25% -Office Mall -50% 7/17 7/18 7/19 7/20 7/21 7/22 7/23 WISCONSIN SCHOOL OF BUSINESS UNIVERSITY OF WISCONSIN-MADISON TOGETHER FORWARD® JAMES A. GRAASKAMP CENTER for REAL ESTATE Source: Green Street, data through August 4,2023.

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