• Chipotle recently signed a brand new 15-year lease with 4 (5-year) options to extend • 2025 construction which will feature high quality materials, distinct design elements, and high-level finishes • The lease is corporate guaranteed by Chipotle Mexican Grill, Inc., a publicly traded (NYSE: CMG) and nationally recognized tenant with over 3,700 locations • 10% rental increases every 5 years throughout the initial term and at the beginning of each option period