Management has evaluated subsequent events through the date the unaudited interim condensed consolidated financial statements were available to be issued. Management has determined that there are no material events that would require adjustment to, or additional disclosure in, the Company’s unaudited interim condensed consolidated financial statements, other than those disclosed throughout this report and below.

The Company issued the following shares from July 1, 2026 through the date of issuance of this report:


Share Class	Shares Issued
Class I (a)		52,688
Class A		23,656
Class D		34,682
Class ER-I		-
Class ER-A		13,211
Class ER-D		-

(a) Excludes the issuance of 29,312 OP Units that were exchanged for same number of Class I Common Shares discussed below.

The Company received gross proceeds totaling $3.8 million from the issuance of these common shares.

The Company repurchased 62,316 Class I Common Shares totaling $1.7 million and 190,507 Class A Common Shares totaling $5.2 million from July 1, 2026 through the date of this report. Additionally, 29,312 OP Units were exchanged for the same number of Class I Common Shares from July 1, 2026 through the issuance of this report.

The Company adjusted the offering price of its Class I Common Shares, Class A Common Shares, Class S Common Shares, Class D Common Shares, Class ER-I Common Shares, Class ER-A Common Shares, Class ER-S Common Shares and Class ER-D Common Shares effective July 22, 2026, as set forth in the table below.


	Offering price
Effective date	Class I		Class A		Class S		Class D		Class ER-I		Class ER-A		Class ER-S		Class ER-D
July 22, 2026	$	27.63	$	29.38	$	28.63	$	27.63	$	27.63	$	29.38	$	28.63	$	27.63

From July 1, 2026 through the date of issuance of this report, the Operating Partnership has entered into an agreement with a certain DST of which ExchangeRight serves as the master lessee via a master lease agreement. In this guaranty agreement, the Operating Partnership is the guarantor on the master lease agreement entered into between the DST and ExchangeRight as the master lessee. The guaranty is for the full term of the master lease, which is 20 years. Under this guaranty, the Operating Partnership guarantees the payment of all obligations and liabilities of the master lessee as outlined in the master lease agreement. The maximum remaining contractual payments under this lease agreement totaled $93.9 million as of the date of this report, although the master lease rental obligations will be terminated upon a sale or merger of the DST. The Company has not been obligated to make any payments under this guaranty as of the date of issuance of this report.