EFTA Document EFTA01374629

RXR'S EMERGING SUB-MARKET STRATEGY Certain underserved markets targeted through RXR's Emerging Sub-market Strategy now qualify as QOZs; the Fund will identify QOZ investments through a carry- forward of RXR's existing strategy and experience • RXR's Emerging Submarket Strategy has been successfully executed in New York City's suburban downtowns and the outer boroughs in RXR's prior broadly marketed funds (see table on following page for RXR's ESM Strategy Investment Activity and Track Re