An Analysis of 2021 and 2022 SEC Comments Issued to REITs

There are seven broad categories into which the comments issued fall: Comment Categories Comments by Category 100 comments, 53.8% of 186 total comments 0 20 40 60 80 100 120 Financial Statements and Metrics Offering Information Portfolio Information Valuation, Distribution Information and Share Repurchase Programs Other Compliance with Form Requirements Management and Governance Macroeconomic 8 comments, 4.3% of 186 total comments 15 comments, 8.1% of 186 total comments 8 comments, 4.3% of 186 total comments 4 comments, 2.2% of 186 total comments 27 comments, 14.5% of 186 total comments 22 comments, 11.8% of 186 total comments 2 comments, 1.1% of 186 total comments *Due to rounding, percentages may not total 100%. 7 | An Analysis of 2021 and 2022 SEC Comments Issued to REITs