July 9, 2026

SUBJECT TO CHANGE

Information in these materials may be amended or completed prior to sale.

Structural and Collateral Term Sheet

STRICTLY CONFIDENTIAL

CGCMT 2026-MFAM1

$816,850,000
(Approximate Initial Mortgage Pool Balance)

$706,575,000
(Offered Certificates)

Citigroup Commercial Mortgage Trust 2026-MFAM1
As Issuing Entity

Citigroup Commercial Mortgage Securities Inc.
As Depositor

Commercial Mortgage Pass-Through Certificates, Series 2026-MFAM1

Citi Real Estate Funding Inc.
As Sponsor and Mortgage Loan Seller

Citigroup Global Markets Inc.
Lead Manager and Sole Bookrunner

The securities offered by this structural and collateral term sheet (this “Term Sheet”) are described in greater detail in the preliminary prospectus, dated on or about July 9, 2026, included as part of our registration statement (SEC File No. 333-286596) (the “Preliminary Prospectus”). The Preliminary Prospectus contains material information that is not contained in this Term Sheet (including, without limitation, a summary of risks associated with an investment in the offered securities under the heading “Summary of Risk Factors” and a detailed discussion of such risks under the heading “Risk Factors”). The Preliminary Prospectus is available upon request from Citigroup Global Markets Inc., Drexel Hamilton, LLC, Academy Securities, Inc., Mischler Financial Group, Inc., or Bancroft Capital, LLC. This Term Sheet is subject to change.

For information regarding certain risks associated with an investment in this transaction, refer to “Summary of Risk Factors” and “Risk Factors” in the Preliminary Prospectus. Capitalized terms used but not otherwise defined in this Term Sheet have the respective meanings assigned to those terms in the Preliminary Prospectus.

The Securities May Not Be a Suitable Investment for You

The securities offered by this Term Sheet are not suitable investments for all investors. In particular, you should not purchase any class of securities unless you understand and are able to bear the prepayment, credit, liquidity and market risks associated with that class of securities. For those reasons and for the reasons set forth under the headings “Summary of Risk Factors” and “Risk Factors” in the Preliminary Prospectus, the yield to maturity of, the aggregate amount and timing of distributions on and the market value of the offered securities are subject to material variability from period to period and give rise to the potential for significant loss over the life of those securities. The interaction of these factors and their effects are impossible to predict and are likely to change from time to time. As a result, an investment in the offered securities involves substantial risks and uncertainties and should be considered only by sophisticated institutional investors with substantial investment experience with similar types of securities and who have conducted appropriate due diligence on the mortgage loans and the securities. Potential investors are advised and encouraged to review the Preliminary Prospectus in full and to consult with their legal, tax, accounting and other advisors prior to making any investment in the offered securities described in this Term Sheet.

The securities offered by these materials are being offered when, as and if issued. This Term Sheet is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. The information contained in this Term Sheet may not pertain to any securities that will actually be sold. The information contained in this Term Sheet may be based on assumptions regarding market conditions and other matters as reflected in this Term Sheet. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this Term Sheet should not be relied upon for such purposes. We and our affiliates, officers, directors, partners and employees, including persons involved in the preparation or issuance of this Term Sheet may, from time to time, have long or short positions in, and buy or sell, the securities mentioned in this Term Sheet or derivatives thereof (including options). Information contained in this Term Sheet is current as of the date appearing on this Term Sheet only. Information in this Term Sheet regarding the securities and the mortgage loans backing any securities discussed in this Term Sheet supersedes all prior information regarding such securities and mortgage loans. None of Citigroup Global Markets Inc., Drexel Hamilton, LLC, Academy Securities, Inc., Mischler Financial Group, Inc., or Bancroft Capital, LLC provides accounting, tax or legal advice.

The issuing entity will be relying on an exclusion or exemption from the definition of “investment company” under the Investment Company Act of 1940, as amended (the “Investment Company Act”), contained in Section 3(c)(5) of the Investment Company Act or Rule 3a-7 under the Investment Company Act, although there may be additional exclusions or exemptions available to the issuing entity. The issuing entity is being structured so as not to constitute a “covered fund” for purposes of the Volcker Rule under the Dodd-Frank Act (both as defined in “Risk Factors—General Risk Factors—Legal and Regulatory Provisions Affecting Investors Could Adversely Affect the Liquidity and Other Aspects of the Offered Certificates” in the Preliminary Prospectus). See also “Legal Investment” in the Preliminary Prospectus.

Mortgage Loans by Loan Seller

Ten Largest Mortgage Loans⁽¹⁾⁽²⁾

Previously Securitized Mortgaged Properties⁽¹⁾

Property Types

Geographic Distribution

Prepayment Premiums

and Yield Maintenance

If a prepayment premium (calculated as a percentage of the amount prepaid) is imposed in connection with a prepayment rather than a yield maintenance charge, then the prepayment premium so collected will be allocated as described above. For this purpose, the discount rate used to calculate the Base Interest Fraction will be the discount rate used to determine the yield maintenance charge for mortgage loans that require payment at the greater of a yield maintenance charge or a minimum amount equal to a fixed percentage of the principal balance of the mortgage loan or, for mortgage loans that only have a prepayment premium based on a fixed percentage of the principal balance of the mortgage loan, such other discount rate as may be specified in the related loan documents.

After the notional amount of the Class X-A certificates and the certificate balances of the Class A-2, Class A-3, Class A-S, Class B, Class C, Class D, Class E and Class F certificates have been reduced to zero, all prepayment premiums and yield maintenance charges with respect to the mortgage loans will be allocated to the holders of the Class G-RR and Class J-RR certificates as provided in the CGCMT 2026-MFAM1 pooling and servicing agreement. No yield maintenance charges or prepayment premiums will be distributed to the holders of the Class R certificates. For a description of prepayment premiums and yield maintenance charges required on the mortgage loans, see Annex A to the Preliminary Prospectus. See also “Certain Legal Aspects of the Mortgage Loans—Default Interest and Limitations on Prepayments” in the Preliminary Prospectus.

Serviced Mortgage

Loans/Outside Serviced

One or more whole loans may be identified in the Preliminary Prospectus as an “outside serviced whole loan”, in which case the related mortgage loan constitutes an “outside serviced mortgage loan” and each related companion loan constitutes an “outside serviced companion loan”. Any outside serviced whole loan will be serviced pursuant to the pooling and servicing agreement or trust and servicing agreement, as applicable, governing the securitization for a related companion loan, which agreement will constitute an “outside servicing agreement”.

One or more whole loans may be identified in the Preliminary Prospectus as a “servicing shift whole loan”, in which case the related mortgage loan constitutes a “servicing shift mortgage loan” and each related companion loan constitutes a “servicing shift companion loan”. Any servicing shift whole loan will initially be serviced pursuant to the CGCMT 2026-MFAM1 pooling and servicing agreement during which time such mortgage loan, such whole loan and each related companion loan will be a serviced mortgage loan, a serviced whole loan and a serviced companion loan (each as defined below), respectively. However, upon the inclusion of the related controlling pari passu companion loan in a future securitization transaction, the servicing of such mortgage loan will shift to the servicing agreement governing such securitization transaction, and such mortgage loan, such whole loan and each related companion loan will be an outside serviced mortgage loan, an outside serviced whole loan and an outside serviced companion loan, respectively. See “Description of the Mortgage Pool—The Whole Loans” in the Preliminary Prospectus.

Appraisal Reduction

For purposes of determining the identity of the Controlling Class and the existence of a Control Termination Event or an Operating Advisor Consultation Trigger Event, as well as the allocation and/or exercise of voting rights for certain purposes, any Appraisal Reduction Amounts in respect of or allocated to the mortgage loans will be allocated to notionally reduce the certificate balances of the Principal Balance Certificates as follows: first, to the Class J-RR, Class G-RR, Class F, Class E, Class D, Class C, Class B and Class A-S certificates, in that order, in each case until the related certificate balance is notionally reduced to zero; and then to the Class A-2 and Class A-3, certificates, pro rata based on certificate balance.

Cumulative Appraisal

“Collateral Deficiency Amount” means, with respect to any serviced mortgage loan that is an AB Modified Loan as of any date of determination, the excess of (i) the stated principal balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a whole loan, solely to the extent allocable to the subject mortgage loan) (x) the most recent appraised value for the related mortgaged property or mortgaged properties, plus (y) solely to the extent not reflected or taken into account in such appraised value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related borrower at the time the mortgage loan, became (and as part of the modification related to) such AB Modified Loan for the benefit of the related mortgaged property or mortgaged properties, plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. In the case of an outside serviced mortgage loan, any Collateral Deficiency Amount will be calculated pursuant to, and by a party to, the related outside servicing agreement. For purposes of determining the identity of the Controlling Class and the existence of a Control Termination Event or an Operating Advisor Consultation Trigger Event, any Collateral Deficiency Amounts with respect to the mortgage loans will be allocable to the respective classes of Control Eligible Certificates (as defined below) (or for purposes of determining an Operating Advisor Consultation Trigger Event, the HRR Certificates), in reverse alphabetical order of class designation, in a manner similar to the allocation of Appraisal Reduction Amounts to such classes.

“AB Modified Loan” means any mortgage loan (1) that became a corrected loan (which includes for purposes of this definition any outside serviced mortgage loan that became a “corrected” mortgage loan (or any term substantially similar thereto) pursuant to the related outside servicing agreement) due to a modification thereto that resulted in the creation of an A/B note structure (or similar structure) and as to which the new junior note(s) did not previously exist or the principal amount of the new junior note(s) was previously part of either an A note held by the trust or the original unmodified mortgage loan and (2) as to which an Appraisal Reduction Amount is not in effect.

provided, that with respect to any serviced whole loan, the rights of the Directing Holder will be subject to and may be limited by the terms and provisions of any related co-lender agreement.

The applicable directing holder (or equivalent party) with respect to any outside serviced mortgage loan will be, in general, (i) in the event the related Controlling Note is included in the subject outside securitization transaction, the controlling class representative (or equivalent entity) under the related outside servicing agreement, and (ii) in all other cases, the third party holder of the related Controlling Note or its representative (which may be a controlling class representative (or equivalent entity) under a separate securitization transaction to which such note has been transferred (if any)), as provided in the related co-lender agreement.

An “excluded mortgage loan” is a mortgage loan or whole loan with respect to which the Controlling Class Representative or the holder(s) of more than 50% of the Controlling Class (by certificate balance) is (or are) a Borrower Party (as defined in the Preliminary Prospectus).

Controlling Class

On the Closing Date, GCP III CGCMT MF, LLC, a Cayman Islands limited liability company, is expected (i) to purchase the HRR Certificates, and (ii) appoint Greystar Credit Management III, LLC as the initial Controlling Class Representative; and it or its affiliates may purchase additional Certificates.

Control Termination

The holders of Certificates representing the majority of the certificate balance of the most senior class of Control Eligible Certificates whose certificate balance is notionally reduced to less than 25% of the initial certificate balance of that class as a result of an allocation of an Appraisal Reduction Amount or a Collateral Deficiency Amount, as applicable, to such class will have the right to challenge the Special Servicer’s Appraisal Reduction Amount determination or a Collateral Deficiency Amount determination, as applicable, and, at their sole expense, obtain a second appraisal for any serviced loan for which an Appraisal Reduction Event has occurred or as to which there exists a Collateral Deficiency Amount, under the circumstances described in the Preliminary Prospectus.

Consultation Termination

Control/Consultation

After the occurrence and during the continuance of a Control Termination Event, the consent rights of the Controlling Class Representative with respect to the applicable serviced loans will terminate, and the Controlling Class Representative will retain non-binding consultation rights under the CGCMT 2026-MFAM1 pooling and servicing agreement with respect to certain major decisions and other matters with respect to the serviced mortgage loans, other than (i) any excluded mortgage loan, and (ii) any serviced outside controlled whole loan.

After the occurrence and during the continuance of a Consultation Termination Event, all of these rights of the Controlling Class Representative with respect to the applicable serviced loans will terminate.

With respect to any serviced outside controlled whole loan (including any servicing shift whole loan for so long as it is serviced under the CGCMT 2026-MFAM1 pooling and servicing agreement), the holder of the related Controlling Note or its representative (which holder or representative will not be the Controlling Class Representative) will instead be entitled to exercise the above-described consent and consultation rights, to the extent provided under the related co-lender agreement.

With respect to each outside serviced whole loan, the applicable outside controlling class representative or other related controlling noteholder pursuant to, and subject to the limitations set forth in, the related outside servicing agreement and the related co-lender agreement will have consent, consultation, approval and direction rights with respect to certain major decisions (including with respect to assumptions, waivers, loan modifications and workouts) regarding such outside serviced whole loan, as provided for in the related co-lender agreement and in the related outside servicing agreement. To the extent permitted under the related co-lender agreement, the Controlling Class Representative (so long as a Consultation Termination Event does not exist) may have certain consultation rights with respect to each outside serviced whole loan.

See “Description of the Mortgage Pool—The Whole Loans” in the Preliminary Prospectus.

Termination of

Except in the case of a serviced outside controlled whole loan, and solely if a Control Termination Event has occurred and is continuing, the special servicer under the CGCMT 2026-MFAM1 pooling and servicing agreement may be terminated and replaced pursuant to a vote of applicable certificateholders, with or without cause, in accordance with the procedures described under “The Pooling and Servicing Agreement—Removal of the Special Servicer by Certificateholders Following a Control Termination Event” in the Preliminary Prospectus, upon the affirmative vote of (a) the holders of Certificates evidencing at least 66-2/3% of the voting rights allocable to the Certificates of those holders that voted on such matter (provided that holders representing the applicable Certificateholder Quorum vote on the matter) or (b) the holders of Non-Reduced Certificates entitled to vote on the matter evidencing more than 50% of the voting rights allocable to each class of such Non-Reduced Certificates.

At any time, the special servicer under the CGCMT 2026-MFAM1 pooling and servicing agreement may be terminated and replaced with respect to all the serviced loans, if (i) the operating advisor (A) determines, in its sole discretion exercised in good faith, that the special servicer has failed to comply with the Servicing Standard and a replacement of the special servicer would be in the best interest of the holders of the Certificates (as a collective whole), and (B) recommends the replacement of the special servicer with respect to such serviced loans, and (ii) the holders of Certificates evidencing at least a majority of the aggregate outstanding principal balance of the Certificates of those holders that voted on the matter (provided that holders representing the applicable Certificateholder Quorum vote on the matter) affirmatively vote to remove the special servicer in such capacity in accordance with the procedures set forth under “The Pooling and Servicing

Agreement—Removal of the Special Servicer by Certificateholders Based on the Recommendation of the Operating Advisor” in the Preliminary Prospectus.

“Non-Reduced Certificates” means each class of Principal Balance Certificates that has an outstanding certificate balance as may be notionally reduced by any Appraisal Reduction Amounts allocated to that class, equal to or greater than 25% of an amount equal to the initial certificate balance of that class of certificates minus all principal payments made on such class of certificates.

Notwithstanding the foregoing, solely with respect to a serviced outside controlled whole loan (including any servicing shift whole loan, for so long as it is serviced pursuant to the CGCMT 2026-MFAM1 pooling and servicing agreement), only the holder of the related Controlling Note or its representative may terminate the special servicer without cause (solely with respect to the related whole loan) and appoint a replacement special servicer for that whole loan.

“Certificateholder Quorum” means a quorum that: (a) for purposes of a vote to terminate and replace the special servicer or the asset representations reviewer at the request of the holders of Certificates evidencing not less than 25% of the voting rights (without regard to the application of any Appraisal Reduction Amounts), consists of the holders of Certificates evidencing at least 50% of the voting rights (taking into account the allocation of any Appraisal Reduction Amounts to notionally reduce the certificate balances of the respective classes of Principal Balance Certificates) of all of the Certificates, on an aggregate basis; and (b) for purposes of a vote to terminate and replace the special servicer based on a recommendation of the operating advisor, consists of the holders or beneficial owners of Certificates evidencing at least 20% of the aggregate outstanding principal balance of all the Principal Balance Certificates, with such quorum including at least three Certificateholders or Certificate Owners that are not Risk Retention Affiliated with each other.

The related outside special servicer under each outside servicing agreement generally may be (or, if the applicable outside servicing agreement has not yet been executed, it is anticipated that such outside special servicer may be) replaced by the related outside controlling class representative (or an equivalent party), or the vote of the requisite holders of certificates issued, under the applicable outside servicing agreement (depending on whether or not the equivalent of a control termination event or a consultation termination event exists under that outside servicing agreement) or by any applicable other controlling noteholder under the related co-lender agreement in a manner generally similar to the manner in which the special servicer may be replaced under the CGCMT 2026-MFAM1 pooling and servicing agreement as described above in this “Termination of Special Servicer” section (although there will be differences, in particular as regards certificateholder votes and the timing of when an outside special servicer may be terminated based on the recommendation of an operating advisor).

If the special servicer, to its knowledge, becomes a Borrower Party with respect to a mortgage loan, the special servicer will not be permitted to act as special servicer with respect to that mortgage loan. Subject to certain limitations described in the Preliminary Prospectus, any applicable Directing Holder will be entitled to appoint a replacement special servicer for that mortgage loan. If there is no applicable Directing Holder or if the applicable Directing Holder does not take action to appoint a replacement special servicer within the requisite time period, a replacement special servicer will be appointed in the manner specified in the CGCMT 2026-MFAM1 pooling and servicing agreement.

provided, that in certain circumstances described under “The Pooling and Servicing Agreement” in the Preliminary Prospectus, voting rights will only be exercisable by holders of the Non-Reduced Certificates and/or may otherwise be exercisable or allocated in a manner that takes into account the allocation of Appraisal Reduction Amounts.

The voting rights of any class of Certificates are required to be allocated among certificateholders of such class in proportion to their respective percentage interests.

The Class R certificates will not be entitled to any voting rights.

Servicing

servicer. Within any prior 12-month period, all such excess modification fees earned by the master servicer or by the special servicer (after taking into account the offset described below applied during such 12-month period) with respect to any serviced mortgage loan will be subject to a cap equal to the greater of (i) 1% of the outstanding principal balance of such mortgage loan after giving effect to such transaction and (ii) $25,000.

All excess modification fees earned by the special servicer will be required to offset any future workout fees or liquidation fees payable with respect to the related serviced mortgage loan or related REO property; provided, that if the serviced mortgage loan ceases being a corrected loan, and is subject to a subsequent modification, any excess modification fees earned by the special servicer prior to such serviced mortgage loan ceasing to be a corrected loan will no longer be offset against future liquidation fees and workout fees unless such serviced mortgage loan ceased to be a corrected loan within 18 months of it becoming a modified mortgage loan.

Penalty Fees: All late fees and default interest will first be used to reimburse certain expenses previously incurred with respect to the related mortgage loan (including special servicing fees, workout fees and liquidation fees) but not yet reimbursed to the trust, the master servicer or the special servicer or to pay certain expenses (including special servicing fees, workout fees and liquidation fees) that are still outstanding on the related mortgage loan, and any excess received with respect to a serviced loan will be paid to the master servicer (for penalty fees accrued while a non-specially serviced loan) and the special servicer (for penalty fees accrued while a specially serviced loan). To the extent any amounts reimbursed out of penalty charges are subsequently recovered on a related serviced loan, they will be paid to the master servicer or special servicer who would have been entitled to the related penalty charges that were previously used to reimburse such expense.

Liquidation / Workout Fees: Liquidation fees will be calculated at the lesser of (a) 1.0% or (b) with respect to any serviced mortgage loan (or related serviced whole loan, if applicable) or related REO Property, such lesser rate as would result in a liquidation fee of $1,000,000, for each serviced loan that is a specially serviced loan and any REO property, subject in any case to a minimum liquidation fee of $25,000. For any serviced loan that is a corrected loan, workout fees will be calculated at the lesser of (a) 1.0% and (b) such lower rate as would result in a workout fee of $1,000,000 when applied to each expected payment of principal and interest (other than (i) default interest and (ii) any “excess interest” accrued after the related anticipated repayment date on any mortgage loan with an anticipated repayment date) on the related serviced loan (or related serviced whole loan, if applicable) from the date such serviced loan becomes a corrected loan through and including the then related maturity date, subject in any case to a minimum workout fee of $25,000.

Notwithstanding the foregoing, in connection with a maturity default, no liquidation or workout fee will be payable in connection with a payoff or refinancing of the related serviced loan within three months of the maturity default, but the special servicer may collect from the related borrower and retain (x) a liquidation fee or workout fee, as applicable, and (y) such other fees as are provided for in the related loan documents.

In the case of an outside serviced whole loan, calculation of the foregoing amounts payable to the related outside servicer or outside special servicer may be different than as described above. For example, the extent to which modification fees and penalty fees are applied to offset expenses may be different and liquidation fees and workout fees may be subject to different caps or no caps.

An “Operating Advisor Consultation Trigger Event” will occur when the aggregate outstanding certificate balance of the HRR Certificates (as notionally reduced by any Cumulative Appraisal Reduction Amounts then allocable to the HRR Certificates) is 25% or less of the initial aggregate certificate balance of the HRR Certificates. With respect to excluded mortgage loans, an Operating Advisor Consultation Trigger Event will be deemed to exist.

Notwithstanding the foregoing, the operating advisor will generally have no obligations or consultation rights as operating advisor under the CGCMT 2026-MFAM1 pooling and servicing agreement with respect to any outside serviced mortgage loan or any related REO property.

The operating advisor will be subject to termination and replacement if the holders of at least 15% of the voting rights of Non-Reduced Certificates vote to terminate and replace the operating advisor and such termination and replacement is affirmatively voted for by the holders of more than 50% of the voting rights allocable to the Non-Reduced Certificates of those holders that exercise their right to vote (provided that holders entitled to exercise at least 50% of the voting rights allocable to the Non-Reduced Certificates exercise their right to vote within 180 days of the initial request for a vote). The holders initiating such vote will be responsible for the fees and expenses in connection with the vote and replacement.

See “The Pooling and Servicing Agreement—Operating Advisor” in the Preliminary Prospectus.

Asset Representations

The asset representations reviewer may be terminated and replaced without cause. Upon (i) the written direction of holders of the Certificates (other than the Class R certificates) evidencing not less than 25% of the voting rights requesting a vote to terminate and replace the asset representations reviewer with a proposed successor asset representations reviewer that is an eligible asset representations reviewer, and (ii) payment by such holders to the certificate administrator of the reasonable fees and expenses to be incurred by the certificate administrator in connection with administering such vote, the certificate administrator will promptly provide notice of such request to all certificateholders and the asset representations reviewer by posting such notice on its internet website, and by mailing such notice to all certificateholders and the asset representations reviewer. Upon the affirmative vote of the holders of Certificates evidencing at least 75% of the voting rights allocable to those holders that exercise their right to vote (provided that holders representing the applicable Certificateholder Quorum exercise their right to vote within 180 days of the initial request for a vote), the trustee will be required to terminate all of the rights and obligations of the asset representations reviewer under the CGCMT 2026-MFAM1 pooling and servicing agreement by written notice to the asset representations reviewer, and the proposed successor asset representations reviewer will be appointed. See “The Pooling and Servicing Agreement—The Asset Representations Reviewer” in the Preliminary Prospectus.

Dispute Resolution

Generally, in the event that a Repurchase Request (as defined in the Preliminary Prospectus) with respect to a mortgage loan is not “Resolved” (as defined below) within 180 days after the mortgage loan seller receives such Repurchase Request, then the enforcing servicer will be required to send a notice to the “Initial Requesting Certificateholder” (if any) indicating the enforcing servicer’s intended course of action with respect to the Repurchase Request. If (a) the enforcing servicer’s intended course of action with respect to the Repurchase Request does not involve pursuing further action to exercise rights against the mortgage loan seller with respect to the Repurchase Request and the Initial Requesting Certificateholder, if any, or any other holder or beneficial owner of Certificates wishes to exercise its right to refer the matter to mediation (including nonbinding arbitration) or arbitration, or (b) the enforcing servicer’s intended course of action is to pursue further action to exercise rights against the mortgage loan seller with respect to the Repurchase Request but the Initial Requesting Certificateholder, if any, or any other holder or beneficial owner of Certificates does not agree with the dispute resolution method selected by the enforcing servicer, then the Initial Requesting Certificateholder, if any, or such other holder or beneficial owner of Certificates may deliver a written notice to the enforcing servicer indicating its intent to exercise its right to refer the matter to either mediation or arbitration. In addition, any other holder or beneficial owner of Certificates may deliver, within the time frame provided in the CGCMT 2026-MFAM1 pooling and servicing agreement, a written notice requesting the right to participate in any dispute resolution consultation that is conducted by the enforcing servicer following the enforcing servicer’s receipt of the notice described in the preceding sentence.

“Resolved” means, with respect to a Repurchase Request in connection with a mortgage loan, (i) that any material breach of representations and warranties or a material document defect has been cured, (ii) the related mortgage loan has been repurchased in accordance with the mortgage loan purchase agreement, (iii) a mortgage loan has been substituted for the related mortgage loan in accordance with the mortgage loan purchase agreement, (iv) the mortgage loan seller has made a “loss of value payment”, (v) a contractually binding agreement has been entered into between the enforcing servicer, on behalf of the issuing entity, and the related mortgage loan seller that settles the mortgage loan seller’s obligations under the mortgage loan purchase agreement, or (vi) the related mortgage loan is no longer property of the issuing entity as a result of a sale or other disposition in accordance with the CGCMT 2026-MFAM1 pooling and servicing agreement. If a Repurchase Request is Resolved in a manner contemplated by clause (v) above, and if the enforcing servicer determines in its reasonable judgment that the applicable contractually binding agreement to be entered into between the enforcing

servicer, on behalf of the issuing entity, and the mortgage loan seller, as contemplated by such clause (v), could reasonably be expected to result in losses or other shortfalls on or in respect of the related mortgage loan directly attributable to such contractually binding agreement, then the enforcing servicer will be required, prior to the occurrence of a Control Termination Event, to obtain the consent of the Directing Holder before entering into such contractually binding agreement (other than in connection with any mediation (including non-binding arbitration) or arbitration brought in accordance with the CGCMT 2026-MFAM1 pooling and servicing agreement); provided, however, that no such consent will be required (i) if the related mortgage loan is an excluded mortgage loan with regard to the Directing Holder, or (ii) if no such determination is made by the enforcing servicer. See “The Pooling and Servicing Agreement—Dispute Resolution Provisions” in the Preliminary Prospectus.

—all special notices delivered.

—summaries of final asset status reports.

—all appraisals in connection with an appraisal reduction plus any subsequent appraisal updates.

—an “Investor Q&A Forum” and a voluntary investor registry.

If the aggregate certificate balances of the Class A-2, Class A-3, Class A-S, Class B, Class C, Class D, Class E and Class F certificates and the notional amount of the Class X-A certificates have been reduced to zero and if the master servicer has received from the remaining certificateholders the payment specified in the CGCMT 2026-MFAM1 pooling and servicing agreement, the issuing entity could also be terminated in connection with an exchange of all the then-outstanding Certificates (excluding the Class R certificates) for the mortgage loans (and all property acquired through exercise of remedies in respect of any mortgage loan) remaining in the issuing entity, as further described under “The Pooling and Servicing Agreement—Optional Termination; Optional Mortgage Loan Purchase” in the Preliminary Prospectus.

The Offered Certificates involve certain risks and may not be suitable for all investors. For information regarding certain risks associated with an investment in the Offered Certificates, see “Summary of Risk Factors” and “Risk Factors” in the Preliminary Prospectus. Capitalized terms used but not otherwise defined in this Term Sheet have the respective meanings assigned to those terms in the Preliminary Prospectus.

The Loan. The largest mortgage loan (“The Leo Mortgage Loan”) is secured by the borrowers’ fee simple interest in a 168-unit, high-rise multifamily property located in Chicago, Illinois (“The Leo Property”). The Leo Mortgage Loan is evidenced by a single promissory note with an outstanding principal balance as of the Cut-off Date of $65,000,000. The Leo Mortgage Loan was originated on June 1, 2026 by Citi Real Estate Funding Inc. and accrues interest at a fixed rate of 5.85000% per annum on an Actual/360 basis. The Leo Mortgage Loan has an initial term of five years and is interest-only for the full term. The scheduled maturity date of The Leo Mortgage Loan is June 6, 2031.

The Property. The Leo Property is a 168-unit, high-rise multifamily property with ground-floor retail located in the River North neighborhood of Chicago, Illinois. The Leo Property was constructed in 2024 and is comprised of a single, 21-story residential tower situated on an approximately 0.39-acre site. Community amenities at The Leo Property include a rooftop pool, fitness center, business center, co-working spaces, and an outdoor roof deck with grills. The Leo Property also features 53 enclosed parking spaces, resulting in a parking ratio of approximately 0.32 spaces per unit. The ground-floor retail space at The Leo Property comprises 3,914 square feet, representing approximately 3.3% of underwritten effective gross income, and was 100.0% leased as of April 17, 2026 to two tenants, including a sauna/spa and a fitness class provider, with leases extending to 2036.

The residential unit mix at The Leo Property consists of 34 studio units, 101 one-bedroom / one-bathroom units, 17 one-bedroom / one and a half-bathroom units, and 16 two-bedroom / two-bathroom units, with an average unit size of approximately 741 square feet. Of the 168 units, four are designated as affordable units as required pursuant to a local ordinance, which must be leased to households earning not more than 60% of area median income at restricted rents published by the City of Chicago Department of Housing. Unit amenities include full stainless steel appliance packages, granite countertops, in-unit washer/dryers, walk-in closets, garbage disposals, and balconies in select units. As of May 6, 2026, the residential portion of The Leo Property was 95.2% leased.

The following table presents certain information relating to the residential unit mix at The Leo Property:

The following table presents certain information relating to the historical operating performance and Underwritten Net Cash Flow at The Leo Property:

Appraisal. According to the appraisal, The Leo Property had an “as-is” appraised value of $87,900,000 as of March 31, 2026.

Environmental Matters. According to the Phase I environmental report dated May 4, 2026, there is a controlled recognized environmental condition at The Leo Property relating to a release from four gasoline underground storage tanks. See “Description of the Mortgage Pool—Environmental Considerations” in the Preliminary Prospectus.

The Market. The Leo Property is located at 741 North Wells Street in the River North neighborhood of Chicago, Illinois which is part of the Chicago metropolitan statistical area (the “Chicago MSA”). The River North neighborhood is located immediately north of the Chicago central business district and is one of the city’s primary residential and retail corridors, providing access to a variety of restaurants, entertainment venues, and cultural attractions, as well as proximity to major employment centers. Major employers in the Chicago MSA include Amazon, Walmart, Advocate Health, and the federal government. Primary access to The Leo Property is provided by Interstate 90 as well as multiple public transportation options, including Chicago Transit Authority rail and bus lines.

According to a third-party market research report, The Leo Property is located within the Downtown Chicago multifamily submarket of the Chicago multifamily market. As of May 4, 2026, the Downtown Chicago multifamily submarket had inventory of 64,360 units, a vacancy rate of 5.4%, and average asking rent of $3,134 per month. 

The following table presents certain information relating to certain multifamily properties that are comparable to The Leo Property:

The Borrowers and the Borrower Sponsor. The borrowers are Chicago 741 LLC, RJF 370 N Morgan LLC and RF110 370 N Morgan LLC, as tenants in common, each a Delaware limited liability company and single purpose entity having at least one independent director in its organizational structure. Legal counsel to the borrowers delivered a non-consolidation opinion in connection with the origination of The Leo Mortgage Loan.

The borrower sponsor is MS Chicago 741 LLC, the manager of each of the borrowers. The non-recourse carve-out guarantors are Hymie Mishan and Saul Sutton, co-founders of Vista Property. Vista Property is a family-owned investment firm with a portfolio of urban retail, office, and multifamily properties located in Chicago, New York, Florida, North Carolina, Virginia, New Jersey, Pennsylvania, Washington, D.C., Massachusetts, and London. Vista Property’s current multifamily portfolio in Chicago includes 413 units between two properties with 494 additional units under development.

Property Management. The Leo Property is managed by Cagan Management Group, Inc., a third party property management company.

Initial and Ongoing Reserves. At origination of The Leo Mortgage Loan, the borrowers deposited approximately $437,500 into a reserve account for real estate taxes.

Tax Reserve – The borrowers are required to deposit into a real estate tax reserve, on a monthly basis, 1/12th of the taxes that the lender reasonably estimates will be payable over the next-ensuing 12-month period (initially estimated to be approximately $72,917).

Insurance Reserve – At the option of the lender, if the liability or casualty insurance policy maintained by the borrowers covering The Leo Property does not constitute an approved blanket or umbrella policy pursuant to The Leo Mortgage Loan documents, the borrowers are required to deposit into an insurance reserve, on a monthly basis, 1/12th of the amount which will be sufficient to pay the insurance premiums due for the renewal of coverage afforded by such policies. As of the origination date, The Leo Property was covered by an approved blanket policy.

Replacement Reserve – The borrowers are required to deposit into a replacement reserve, on a monthly basis, approximately $3,571.

Leasing Reserve – During a Trigger Period (as defined below), the borrowers are required to deposit into a leasing reserve, on a monthly basis, approximately $326 for future tenant improvements and leasing commissions.

Lockbox / Cash Management. The Leo Mortgage Loan is structured with a springing lockbox and springing cash management. Upon the first occurrence of a Trigger Period, the borrowers are required to establish a lender-controlled lockbox account, and are thereafter required to deposit, or cause the property manager to deposit, immediately upon receipt, all revenue received by the borrowers or the property manager into such lockbox. Within five days after the first occurrence of a Trigger Period, the borrowers are required to deliver a notice to all non-residential tenants under non-residential leases at The Leo Property directing them to remit rent and all other sums due under the applicable lease directly to the lender-controlled lockbox account. All funds deposited into the lockbox account are required to be transferred each week to or at the direction of the borrowers unless a Trigger Period exists and the lender elects (in its sole and absolute discretion) to deliver a restricted account notice to the institution maintaining the lockbox account, in which case all funds in the lockbox account are required to be swept on each business day to a lender-controlled cash management account to be applied and disbursed in accordance with The Leo Mortgage Loan documents, and all excess cash flow funds remaining in the cash management account after the application of such funds in accordance with The Leo Mortgage Loan documents are required to be held by the lender in an excess cash flow reserve account as additional collateral for The Leo Mortgage Loan. Upon the expiration of all Trigger Periods, the lender is required to return any amounts remaining on deposit in the excess cash flow reserve account to the borrowers. Upon an event of default under The Leo Mortgage Loan documents, the lender may apply funds to The Leo Mortgage Loan in such priority as it may determine.

“Trigger Period” means a period (A) commencing upon the earlier of (i) the occurrence and continuance of an event of default under The Leo Mortgage Loan documents, and (ii) the debt service coverage ratio being less than 1.10x (a “DSCR Trigger Period”) (provided, however, that no Trigger Period is deemed to exist pursuant to this clause (ii) during any period that the Collateral Cure Conditions (as defined below) are satisfied); and (B) expiring upon (x) with regard to clause (i) above, the cure (if applicable) of such event of default under The Leo Mortgage Loan documents, and (y) with regard to clause (ii) above, the date that the debt service coverage ratio is equal to or greater than 1.15x.

“Collateral Cure Conditions” are deemed to exist if and for so long as the borrowers deposit cash into an account with the lender or deliver to the lender a letter of credit which, in either case, will serve as additional collateral for The Leo Mortgage Loan, in an amount equal to the Collateral Deposit Amount (as defined below) and, thereafter, for so long as the borrowers elect to satisfy the Collateral Cure Conditions in order to avoid a DSCR Trigger Period on a quarterly basis after the date the borrowers made said deposit (or delivered said letter of credit), the borrowers are required to deposit additional cash collateral in the amount of the Collateral Deposit Amount or increase the amount of the letter of credit by an amount equal to the Collateral Deposit Amount, as applicable. The collateral referenced in this definition will be returned to the borrowers, provided that no event of default is ongoing, at the time the debt service coverage ratio (without taking into account the cash deposit or letter of credit) is equal to or greater than 1.15x for one calendar quarter.

“Collateral Deposit Amount” means an amount which, as of each date of calculation, if applied to the lender’s underwritable cash flow (which, for the purposes of this definition, is calculated using (i) in-place gross rents, annualized and (ii) a vacancy allowance equal to the greater of actual vacancy and 4%), would result in a debt service coverage ratio of 1.15x.

Current Mezzanine or Secured Subordinate Indebtedness. None.

Permitted Future Mezzanine or Secured Subordinate Indebtedness. Not permitted.

Release of Collateral. Not permitted.

Ground Lease. None.

The Loan. The second largest mortgage loan (the “Solterra at Civic Center Mortgage Loan”) is secured by the borrower’s fee simple interest in a 192-unit, garden style multifamily property located in Norwalk, California (the “Solterra at Civic Center Property”). The Solterra at Civic Center Mortgage Loan is evidenced by a single promissory note with an outstanding principal balance as of the Cut-off Date of $54,000,000. The Solterra at Civic Center Mortgage Loan was originated on July 1, 2026 by Citi Real Estate Funding Inc. and accrues interest at a fixed rate of 5.84000% per annum on an Actual/360 basis. The Solterra at Civic Center Mortgage Loan has an initial term of five-years and is interest-only for the full term. The scheduled maturity date of the Solterra at Civic Center Mortgage Loan is July 6, 2031.

The Property. The Solterra at Civic Center Property is a 192-unit, garden-style multifamily property located in Norwalk, California, approximately 16.2 miles southeast of Los Angeles. The Solterra at Civic Center Property was originally constructed in 1987, most recently renovated from 2022 to 2026, and consists of 12, two-story residential buildings and two common area buildings situated on an approximately 8.47-acre site. Community amenities at the Solterra at Civic Center Property include a gated entry system, fitness center, clubhouse, two swimming pools and spas, a tennis and basketball court, a playground, and outdoor grilling areas. The Solterra at Civic Center Property also features 323 surface and garage parking spaces resulting in a parking ratio of approximately 1.68 spaces per unit.

The unit mix at the Solterra at Civic Center Property consists of 96 one-bedroom / one-bathroom units and 96 two-bedroom / two-bathroom units, with an average unit size of approximately 904 square feet. Unit amenities include in-unit washer/dryers, stainless steel appliances, garbage disposals, central air and heat, gas stoves, quartz countertops, and private patios or balconies. As of June 1, 2026, the Solterra at Civic Center Property was 96.4% leased. Approximately 56 of the 192 units at the Solterra at Civic Center Property are leased on a month-to-month basis.

The Solterra at Civic Center Mortgage loan is subject to the California Tenant Protection Act, which limits annual increases for existing tenants to the lower of (i) 5% plus the local consumer price index increase and (ii) 10%, and requires a landlord to have “just cause” to terminate a tenancy.

The following table presents certain information relating to the unit mix at the Solterra at Civic Center Property:

The following table presents certain information relating to the historical operating performance and Underwritten Net Cash Flow at the Solterra at Civic Center Property:

Appraisal. According to the appraisal, the Solterra at Civic Center Property had an “as-is” appraised value of $76,760,000 as of June 19, 2026.

Environmental Matters. According to the Phase I environmental report dated March 20, 2026, there were no recognized environmental conditions at the Solterra at Civic Center Property.

The Market. The Solterra at Civic Center Property is located at 12630 Bloomfield Avenue in Norwalk, California and is part of the Los Angeles–Long Beach–Anaheim metropolitan statistical area (the “Los Angeles MSA”). According to the appraisal, the Los Angeles MSA had a population of approximately 12.9 million as of 2024. According to the appraisal, the city of Norwalk is a suburban community of the Los Angeles MSA and is influenced by its location in the middle of an expanding transportation network, home to educational institutions, recreational areas, eateries, hotels and retail stores. According to the appraisal, the top economic sectors in the area include education, public administration, healthcare and retail. Primary access to the area is provided by Interstate 5, located approximately two miles west of the Solterra at Civic Center Property, State Route 91 and Interstate 105.

According to a third-party market research report, the Solterra at Civic Center Property is located within the Southeast Los Angeles multifamily submarket of the Los Angeles multifamily market. As of May 22, 2026, the Southeast Los Angeles multifamily submarket had inventory of approximately 26,945 units, a vacancy rate of approximately 3.6%, and average asking rent of approximately $2,081 per month.

According to the appraisal, the estimated 2024 population within a one-, three-, and five-mile radius of the Solterra at Civic Center Property was approximately 19,193, 199,318, and 592,429, respectively, and the estimated average household income within the same radii was approximately $108,613, $123,456, and $125,135, respectively.

The following table presents certain information relating to multifamily properties that are comparable to the Solterra at Civic Center Property:

The Borrower and the Borrower Sponsors. The borrower is Solterra at Civic Center, LP, a California limited partnership and single purpose entity having at least one independent director in its organizational structure. Legal counsel to the borrower delivered a non-consolidation opinion in connection with the origination of the Solterra at Civic Center Mortgage Loan.

The borrower sponsors and non-recourse carveout guarantors are The LK 2024 Trust, Michael H. Scott Revocable Trust, Michael H. Scott and Lee M. Kort. Lee M. Kort and Michael H. Scott are co-founders of Kort & Scott Financial Group (“K&S”). K&S is a Southern California-based real estate investment and operating firm with over three decades of experience acquiring and managing residential communities throughout the Western United States. Founded in 1989, K&S has built a vertically integrated platform spanning both manufactured housing communities and conventional multifamily, with a current portfolio of over 9,000 units.

Property Management. The Solterra at Civic Center Property is managed by Sares Regis Management Company, L.P., a third party property management company.

Initial and Ongoing Reserves. At origination of the Solterra at Civic Center Mortgage Loan, the borrower deposited (i) approximately $287,240 into a reserve account for real estate taxes, (ii) approximately $112,687 into a reserve account for insurance premiums and (iii) $226,985 into a deferred maintenance reserve.

Tax Reserve – The borrower is required to deposit into a real estate tax reserve, on a monthly basis, 1/12th of the taxes that the lender reasonably estimates will be payable over the next-ensuing 12-month period (initially estimated to be approximately $95,747).

Insurance Reserve – At the option of the lender, if the liability or casualty insurance policy maintained by the borrower covering the Solterra at Civic Center Property does not constitute an approved blanket or umbrella policy pursuant to the Solterra at Civic Center Mortgage Loan documents, the borrower is required to deposit into an insurance reserve, on a monthly basis, 1/12th of the amount which will be sufficient to pay the insurance premiums due for the renewal of coverage afforded by such policies (initially estimated to be approximately $11,269).

Replacement Reserve – The borrower is required to deposit into a replacement reserve, on a monthly basis, $4,699.

Lockbox / Cash Management. The Solterra at Civic Center Mortgage Loan is structured with a springing lockbox and springing cash management. Upon the first occurrence of a Trigger Period (as defined below), the borrower is required to establish a lender-controlled lockbox account, and is thereafter required to deposit, or cause the property manager to deposit, immediately upon receipt, all revenue received by the borrower or the property manager into such lockbox account. All funds deposited into the lockbox account are required to be transferred on each business day to or at the direction of the borrower unless a Trigger Period exists and the lender elects (in its sole and absolute discretion) to deliver a restricted account notice to the institution maintaining the lockbox account, in which case all funds in the lockbox account are required to be swept on each business day to a lender-controlled cash management account to be applied and disbursed in accordance with the Solterra at Civic Center Mortgage Loan documents, and all excess cash flow funds remaining in the cash management account after the application of such funds in accordance with the Solterra at Civic Center Mortgage Loan documents are required to be held by the lender in an excess cash flow reserve account as additional collateral for the Solterra at Civic Center Mortgage Loan. Upon the cure of all Trigger Periods, the lender is required to return any amounts remaining on deposit in the excess cash flow reserve account to the borrower. Upon an event of default under the Solterra at Civic Center Mortgage Loan documents, the lender may apply funds to the Solterra at Civic Center Mortgage Loan in such priority as it may determine.

“Trigger Period” means a period (A) commencing upon the earlier of (i) the occurrence and continuance of an event of default under the Solterra at Civic Center Mortgage Loan documents, and (ii) the debt service coverage ratio being less than 1.10x (a “DSCR Trigger Period”) (provided, however, that no Trigger Period is deemed to exist pursuant to this clause (ii) during any period that the Collateral Cure Conditions (as defined below) are satisfied); and (B) expiring upon (x) with regard to clause (i) above, the cure (if applicable) of such event of default under the Solterra at Civic Center Mortgage Loan documents, and (y) with regard to clause (ii) above, the date that the debt service coverage ratio is equal to or greater than 1.15x for two consecutive calendar quarters.

“Collateral Cure Conditions” are deemed to exist if and for so long as the borrower deposits cash into an account with the lender which will serve as additional collateral for the Solterra at Civic Center Mortgage Loan, in an amount equal to the Collateral Deposit Amount (as defined below) and, thereafter, for so long as the borrower elects to satisfy the Collateral Cure Conditions in order to avoid a DSCR Trigger Period, on each one year anniversary of the date the borrower made said deposit, the borrower is required to deposit additional cash collateral in the amount of the Collateral Deposit Amount. The collateral referenced in this definition will be returned to the borrower, provided that no event of default is ongoing, at the time the debt service coverage ratio (without taking into account the cash deposit) is equal to or greater than 1.15x for two consecutive calendar quarters.

“Collateral Deposit Amount” means the amount of funds which, if the outstanding principal balance were reduced thereby, would cause the debt service coverage ratio to be equal to 1.15x.

Current Mezzanine or Secured Subordinate Indebtedness. None.

Permitted Future Mezzanine or Secured Subordinate Indebtedness. Not permitted.

Release of Collateral. Not permitted.

Ground Lease. None.