Chipotle – Single-Tenant Long-Term Net-Lease – Brand New Construction

Investment Highlights

• Chipotle – Brand New Construction – Corporate Guaranteed (Fee Simple) – 10 Year Net-Lease

• Excellent Credit Profile – Publicly Traded (NYSE: CMG) – S&P 500 Component

• Rare Bozeman, Montana Offering – Chipotle Operates 3,500 Stores Across the U.S. – 116,000+ Employees

• Brand New 2025 Construction – NN Lease – Minimal Landlord Responsibilities (Includes 15-Year Roof Warranty)

• 10% Rental Increases Every 5 Years – Including Options (Four 5-Year Options) – Effective Inflation Hedge

• Bozeman, MT – One of the Fastest Growing Cities in the U.S. – “#1 Micropolitan Areas with the Strongest Economy” (POLICOM)

• 15 Minutes to Bozeman Yellowstone International Airport (BZN) – Nearby Company Headquarters for Simms Fishing, Oracle (RightNOw), Snowflake Inc., Schedulicity, onX, Gibson Guitars and More

• 1 Hour to Big Sky, MT – Premier Luxury Vacation Destination – Includes Big Sky Resort (Ikon Pass), Montage Big Sky, Yellowstone Club, and the upcoming 6-Star Ski Resort One&Only Moonlight Basin

• Strategic Location: Adjacent to Gallatin High School (1,500 Student Enrollments) – 1 Hour 45 Min to Yellowstone National Park – 4.5 Million Visitors Annually Primarily Travelling Through Bozeman