Opportunity Zones

1. Internal Rate of Return (IRR) calculations assume cash flows occur at the end of each calendar year and represents the discount rate that would result in a net present value of zero, based on a 365-day year, for such cash flows.
2. Includes regular state income tax only and excludes certain unique or non-standard state taxes (e.g., millionaire taxes and similar surcharges).
3. State tax conformity to the Opportunity Zone program is subject to change. Model currently assumes state conformity under the rural opportunity zone program follows conformity to the non-rural opportunity zone program.

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Limitations and Disclaimers

• Generally, the calculator uses the highest individual tax rate.  Individuals may be taxed at a lower rate.
• Assumes future tax rates are equal to 2026 tax rates.
• Illustration is not intended to represent the rate of return on any particular investment. Investing involves risks, including a loss of principal.
• Tax assumptions and rates are based on information as of April 13, 2026.
• Only for use for investments made into a Qualified Opportunity Zone Fund ("QOF") after January 1, 2027. For the avoidance of doubt, this isn't applicable to investments made to a QOF under the Tax Cuts and Jobs Act prior to January 1, 2027.
• A Traditional Qualified Opprotunity Zone ("QOF") is required to hold at least 90% of its assets in qualified opportunity zone property located in designated Opportunity Zones. A traditional QOF does not meet the requirements for a Rural QOF.
• A Rural Qualified Opportunity Zone Fund (“Rural QOF”) is generally required to hold at least 90% of its assets in qualified opportunity zone property located in designated Rural Opportunity Zones. Designated Rural Opportunity Zones are located in rural areas, which generally have a population of less than 50,000 people and are not adjacent to a city or town with 50,0000 people or more.

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Assumptions

• Calculations assume that the investor can't get a federal deduction for state taxes paid (whether pre- or post-2027 under the Congress.Gov. “H.R. 1 – One Big Beautiful Bill Act,” https://www.congress.gov/bill/119th-congress/house-bill/1 ).
• Illustration assumes that in both the QOF and Non-QOF scenarios, the entire initial capital gain is reinvested and associated taxes are paid out of pocket. In the Non-QOF scenario, original capital gain tax is paid at time of reinvestment and in the QOF scenario, original capital gains tax is paid at the end of the 5th year of their investment into the QOF.
• Illustration assumes no income is distributed over the 10 years, and the entire return is in the form of capital appreciation.  In practice, income from operations (net of depreciation) is taxable, as is gain (including recapture) from properties sold before the investor's 10-year ownership. This may not be representative of an actual investment in a QOF or Non-QOF investment.
• Illustration assumes an exit after a 10 year hold period for both the QOF and Non-QOF scenarios.
• States that have specific state level opportunity zone requirements (e.g. CA, AL, DC) are treated as non-conforming states.
• Growth rate for the QOF is assumed to be at an IRR of 9%. Results can vary.

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Disclosure Statement

The material provided herein is for informational purposes only, is not tax or investment advice and does not address the terms of any specific transaction or any specific circumstances of an investor and is being provided based on tax assumptions and rates as of April 13, 2026.

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Neither CIM Group, LLC (“CIM”) nor any of its affiliates is soliciting or recommending any action based on this material. It does not constitute an offer to sell or a solicitation of an offer to buy any interests in a QOF investment offered by CIM or any other securities, notwithstanding that such securities may currently be offered. Any such offering of interests in a QOF investment offered by CIM will be made only in accordance with the terms and conditions set forth in, and the material provided herein is qualified in its entirety by reference to, the PPM and the governing documents and subscription agreements in respect thereof (collectively, the “Agreements”), copies of each of which will be provided to each prospective investor upon request and should be reviewed carefully before making an investment in a QOF investment offered by CIM (an “Investment”).

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Each investor should consult with its own tax advisors regarding the tax consequences of the structure of its Investment. Neither CIM nor its advisors are providing any assurance, advice, or guidance regarding any of the foregoing or suggesting to any investor any particular structure for such Investment.

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Projected tax benefits of a QOF investment or any particular tax structure presented are hypothetical and not indicative of future results, and there can be no assurances that any such projected tax benefits will be achieved or met.

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The information provided herein is for informational purposes only and is intended solely for use by such recipients to evaluate potential tax benefits resulting from a QOF Investment. The information set forth herein does not purport to be complete, nor does CIM undertake any duty to update the information set forth herein (including, without limitation, any underlying tax limitations, tax rates, disclaimers and assumptions described above). Potential tax benefits of a QOF investment and the results of any hypothetical calculation of tax benefits will vary depending on specific circumstances of and inputs from the recipient. The information presented herein was obtained from sources that CIM believes to be reliable and was prepared in good faith by CIM in response to your request, but CIM does not warrant its completeness or accuracy. Any opinions or assumptions expressed in this document may be subject to change without notice. Except as otherwise specifically set forth herein, the information and assumptions herein are as of the date hereof. For the avoidance of doubt, any underlying tax limitations, disclaimers and assumptions described above are based upon provisions of the Internal Revenue Code and U.S. Treasury Regulations, rulings and judicial decisions as of the date hereof, all of which are subject to change (possibly with retroactive effect), so as to result in U.S. federal income tax consequences different from those described above. CIM and its affiliates do not undertake to, and will not, update any such statements, and neither the delivery of any Agreement at any time nor any Investment shall under any circumstances create an implication that the information contained herein has been updated as of any time after the date hereof.