Risk Factors Update Summary

• Added certain environmental liabilities coverage under a portfolio insurance policy, subject to conditions. This change might result in improved risk mitigation for potential unknown environmental liabilities.
• Added potential costs related to compliance with laws and regulations, including ADA, fire safety, and greenhouse gas emissions. This change could lead to significant unexpected expenses.
• Added exposure to physical risks from climate change, especially in coastal markets, with significant investments. This change highlights the potential impact of extreme weather events on operations and rent payments.
• Added the importance of cybersecurity risk management, detailing controls and processes to protect against unauthorized access and disruptions. This change emphasizes the company's focus on safeguarding data and operations.
• Added the evaluation of insurance coverage limits and deductibles, including risks related to climate change and cyber events. This change indicates a proactive approach to assessing coverage adequacy for potential risks.
• Added the potential adverse effects of liquidity constraints due to limited liquidity events or adverse developments with financial institutions. This change highlights the importance of monitoring financial institutions' stability for liquidity management.
• Added the significance of key personnel retention and attraction for the company's success, emphasizing the challenges of replacing key executives. This change underscores the importance of key personnel for the company's operations and growth strategies.