Investment Overview

STRONG REAL ESTATE FUNDAMENTALS - Located at hard corner of signalized intersection - Multiple points of ingress and egress - Attractive 2022 construction - Limited surrounding competition › 1 competing c-store within a 2-mile radius - Dense and affluent metro of Montgomery - Average household incomes exceed $100k in 1, 3, 5 & 7-mi radius - Robust population growth since 2000: 134% (3-mi); 95% (5-mi); 49% (7-mi) OPTIMAL LEASE STRUCTURE - Attractive 20-year sale-leaseback - Four (4), 5-year renewal options - 1.5% rent escalations every year throughout entire lease - Triple net (NNN) lease with NO landlord responsibilities - Tax advantages with accelerated & bonus depreciation due to fee simple ownership LARGE FRANCHISEE & DOMINANT BRAND - Largest Alimentation Couche-Tard franchisee - Expanding ±135 unit operator across 6 states (AL, AR, GA, LA, SC, TN) - 26+ year operating history - Alimentation Couche-Tard is an international brand with 15,000+ locations in 20 countries (corporate) MONTGOMERY, AL ADVANTAGE - Home to Alabama’s state capital - Gross Metro Product of $18.6 B (2019) - Low cost of living at 8% below national average (per Forbes) - Major industries include education and defense - Home to Maxwell Air Force Base › Educational and technological center of the US Air Force › Average fiscal economic impact of ±$2.6 B annually › Mission critical military installation as home to Air University › 17,000+ military, civil service, and contracted personnel & 34,000 students - Other Top Employers › Baptist Health: ±4,300 employees › Hyundai Motor Manufacturing Alabama, LLC: ±3,500 employees › Assembly plant for Sonata and Elantra sedans and Santa Fe SUV › HMMA and its suppliers have an annual economic impact of $4.82 B to the State of AL’s economy › ALFA Insurance Companies: ±2,500 employees