10.6% 10.5% 10.9% 11.6% 12.1% 12.8% 13.5% 13.4% 14.2% 16.3% 17.6% 17.5% 15.5% 14.4% 14.4% 14.4% 13.6% 14.3% 14.0% 14.5% 14.2% 15.1% 14.1% 13.9% 11.2% 12.2% 13.8% 16.6% 16.8% 18.1% 17.5% 18.1% 18.0% 18.2% 18.1% 18.3% 15.4% 14.8% 14.5% 18.7% 18.7% 18.1% 18.9% 19.0% 19.3% 25.3% 27.5% 26.9% 13.5% 13.0% 13.4% 13.4% 13.1% 14.0% 15.9% 16.1% 15.7% 15.3% 15.1% 14.2% 16.5% 16.2% 16.4% 22.1% 24.6% 23.8% 23.8% 24.0% 25.4% 23.7% 23.5% 22.7% 13.6% 17.1% 15.0% 16.5% 16.8% 16.9% 15.7% 17.7% 26.5% 31.4% 31.2% 30.2% Q421Q324 90 80 70 60 50 40 30 20 10 0 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 2024 2025 2026 2027 2028 $58.4$46.9 1 2 3 4 5 2,500 1,154 OverallMarket Allclasses(RVD) RentalIndexPriceIndex No.ofPermits +242% 0.01.02.03.04.05.06.0 5.0 4.0 3.7 3.6 3.2 2.9 2.3 2.0 ResidenceBel-Air LuxuryMarket(>$20M) 450 VerbalIndex(LHS)PriceIndex(RVD)(RHS) 400 350 90.7 81.8 300 250 1 2 3 4 5