Investor Presentaiton

AVERAGE PRICE OF RESIDENTIAL HOMES SOLD SALES RATIO DATA AND MLS COMPARISON - FOR RURAL AREAS $135,167 $98,794 MLS Rural --SRS Rural While MLS data $207,724 for rural areas $175,328 2012 2013 2014 2015 Source: North Dakota Office of State Tax Commissioner (2022) and Multiple Listing Services of North Dakota (2022) 2016 2017 2018 2019 2020 2021 are higher than SRS, the trends for are very similar between datasets. In 2021, the difference between datasets was 18% for the rural areas.

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