• Chipotle recently signed a brand new 15-year lease with 4 (5-year) options to extend • The lease is corporate guaranteed by Chipotle Mexican Grill, Inc., a publicly traded (NYSE: CMG) and nationally recognized tenant with over 4,000 locations • 10% rental increases every 5 years throughout the initial term and at the beginning of each option period drive NOI growth and provide a built-in hedge against inflation • 2026 construction will feature the latest Chipotle prototype with modern finishes and an optimized drive-thru layout