PathStone Development Corporation

REAL ESTATE DEVELOPMENT:PathStone and its affiliates work with community partners, non-profits, private developers and government officials to design and build housing that is affordable, accessible and seamlessly integrated into the community in which it is built. The services offered are: development and acquisition of affordable rental housing for families, farmworkers, seniors, and special needs populations while also offering affordable single-family for sale home construction. 205 affordable housing units have been developed, $43,911,530 has been invested in affordable housing developments and 1,003 manufactured homes have been preserved through resident ownership since the program's inception. (Continued on Schedule O)Services are provided by PathStone and its affiliates and are available in: Indiana, New York, Pennsylvania, and Puerto Rico. Future projects include the preservation of over 325 units of our existing portfolio in New York, the adaptive re-use of a historic building, and a mixed-use new construction development associated with the City of Rochester's Inner Loop East transformation. Single family for sale redevelopment continues in Indiana with three homes completed. Our presnt developments include the new construction of a senior development which will be PathStone's first Passive House and Net-Zero development, as well as a workforce houseing LEED Gold and Zero development located adjacent to the Amazon Roc 1 fulfullment center. Two homes are under contract in Indiana for redevelopment. In Puerto Rico, the Carolinas redevelopment will provide 168 unites of mixed income housing in collaboration with the local Public Housing Authority and Department of Housing. We are committed to provide housing to meet the needs of the communities we work in.

RENTAL PROPERTY PORTFOLIO:Consists of the corporate legal entities required to own and operate affordable residential rental communities and the commercial properties owned by PathStone Corporation and its affiliate entities. Limited partnerships, limited liability companies and equity holding corporations are established to maintain the long-term ownership and organizational structure required by the PathStone Corporation Board of Directors and governmental and private lenders. The portfolio provides housing for qualifying families, individuals, farmworkers, seniors, and special needs population. (Continued on Schedule O)The portfolio consists of 75 affordable housing communities which comprised 3,716 units that provided high-quality, affordable homes for 6,704 residents. The portfolio has rental properties in Indiana, New York, Ohio, Pennsylvania, and Puerto Rico.