Investor Presentaiton

W 1999 2000 2 2001 WISCONSIN SCHOOL OF BUSINESS UNIVERSITY OF WISCONSIN-MADISON TOGETHER FORWARD® JAMES A. GRAASKAMP CENTER for REAL ESTATE 4 00 8 www with 2002 2003 - 2004 2005 10 12 limited U.S. for-sale housing supply is hurting sales volume .. Months' Supply Months 14 2006 2007- 2008 2009 - 2010- Wy лил 2011- 2012- 2013 2014- 2015- 2016- 2017- 2018 2019 2020 2021 2022 2023 Source: Urban Institute, "Housing Finance at a Glance," August 2023, p. 21. 3.3

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