Risk Factors Update Summary

• The company may not increase distribution rates indefinitely, potentially ceasing distributions to shareholders.
• Significant debt risks added, with consolidated debt at $2.5 billion as of December 31, 2022.
• The company's subsidiaries' total indebtedness and liabilities increased from $148 million to $270 million.
• Scheduled lease expirations increased, with leases representing 15% of annual rental income expiring in 2024.
• The company's secured debt includes $232 million in outstanding borrowings under the credit agreement.
• Increased focus on risks from high interest rates, inflation, and economic downturns, impacting financial conditions.
• Emphasis on potential adverse effects of climate change and natural disasters on properties.
• Reduced quarterly cash distribution rate to $0.01 per common share starting in Q1 2024.
• Increased risks related to interest rate fluctuations impacting borrowing costs and financial performance.
• Introduction of sustainability initiatives and market expectations impacting costs and risks.