PROPERTY HIGHLIGHTS • Long-term lease | Approximately 10 years remaining on the base lease term • Passive investment | Tenant is operating under an absolute NNN lease | Zero Landlord responsibilities • Site is operated by Meritage Hospitality Group, Inc., the nation’s premier Franchise owner-operator/developer and one of the fastest-growing restaurant companies in the U.S. with about 390 Wendy’s locations across 16 states | Their other brands include Taco John’s (7), Morning Belle (3), & Stan’s Tacos (1) • On track to develop 40 new Wendy’s locations and re-image 100% of its existing restaurants by the end of 2024 • Opened the first Next Gen Wendy’s restaurants • Signed an exclusive 55-store development agreement with Taco John’s that includes additional, exclusive rights to develop more than 200 sites • $672.5MM in systemwide sales in 2023 • Lease is guaranteed by Uncommon Hospitality, LLC with ±25 units under management • Direct access and visibility from Reynolda Road which sees 30,000 VPD • University location | About 1 mile from Wake Forest University | 9,121 students • 10% rent increases every 5 years throughout the initial term and options • Across the street from Reynolda Manor shopping center | Anchored by Lowes Foods, Pet Supplies Plus, and Planet Fitness • Walking distance to strong national tenants such as Harris Teeter, Lidl, Burlington, Food Lion, McDonald’s, Panera Bread, Wells Fargo, Dunkin’, T-Mobile, Verizon, Sheetz, Culver’s, National Tire & Battery, Firestone, among others • Dense and affluent area | 58,100+ residents with an average household income exceeding $101,800 within a 3-mile radius WENDY'S HIGHLIGHTS • Wendy’s is the 2nd highest-grossing hamburger chain in the U.S. and 3rd highest-grossing globally with 7,000+ locations worldwide (30 countries) and ±$3.5B in sales in 2023 • 2023 was Wendy’s 13th consecutive year of global same-restaurant sales growth • Ranked #5 on Nation’s Restaurant News’ Top 500 Report • 6,000+ of locations are in the U.S. • Opened nearly 250 new restaurants globally in 2023 | Plans to grow to 7,600-7,800 units by the end of 2025