Risk Factors Update Summary

• Bank failures or liquidity constraints affecting financial institutions were added as a risk factor.
• Increased scrutiny of title matters could lead to legal challenges, potentially resulting in material losses.
• Insurance costs were specified separately from HOA fees, indicating a potential increase in insurance premiums.
• Joint venture investments may limit market access and decision-making authority, impacting financial results.
• The company faces significant risks related to leasing fraud, leading to lost revenue and increased expenses.
• Inflation's adverse effects were detailed, impacting costs of products, materials, labor, and financial results.
• Unoccupied homes were changed to vacant properties, highlighting potential leasing difficulties and financial impacts.
• Changes in building codes and ordinances could hinder property renovation post-damage, affecting economic position.
• Eminent domain actions could result in material losses on properties, potentially impacting profit potential.
• The number of owned homes increased from approximately 80,000 to approximately 85,000.
• Risks related to cybersecurity and data protection could significantly disrupt business operations and expose to liability.
• Regulatory disclosure requirements related to ESG matters are expanding, increasing compliance costs.
• Changes in precipitation patterns could impact the company's approach to ESG factors.
• Anti-ESG sentiment poses a risk, potentially leading to boycotts or adverse media campaigns.