The REIT also declared January dividends and reported continued participation in its dividend reinvestment program.

February 23, 2026

Capital Raise Continues to Build

Capital doesn’t sit still. ExchangeRight Income Fund continues to add to it.

As of January 31, 2026, the company had raised approximately $522 million through its ongoing private placement offering. The raise is structured to bring in up to $2.165 billion and remains open on a continuous basis across multiple common share classes.

More than 19 million shares have been issued to date, with roughly 16.5 million shares outstanding at month-end. The breakdown shows where investors are allocating capital:

• Class A Shares: Approximately $305 million raised
• Class I Shares: Approximately $182 million raised
• Class D and ER Share Classes: Smaller allocations contributing to the total

As of the reporting date, no Class S or Class ER-S shares had been issued.

January Distribution Declared

The company also declared its January distribution, maintaining its regular payout schedule.

Shareholders of record as of January 31 received $0.1449 per share across all outstanding classes. Payments were made on February 13, either in cash or through participation in the company’s dividend reinvestment and direct share purchase plan.

Reinvestment Activity Adds to Share Base

Dividend reinvestment continues to represent a steady source of incremental capital.

For the January distribution, investors elected to reinvest 11.7 percent of total declared dividends and operating partnership unit distributions back into common shares. Since the program’s inception, the company has issued 384,751 shares through reinvestment, representing approximately $10.37 million redirected into the fund.

The plan allows shareholders to automatically apply some or all cash dividends toward additional shares. Certain operating partnership unitholders and ER share class holders may also direct their distributions into corresponding common share classes.

Forward Outlook and Risk Factors

The company noted that statements regarding future performance, acquisition strategy, distributions, and market conditions are subject to risks and uncertainties.

Key variables include:

• Tenant performance and lease renewals
• Interest rate movements and inflation
• Capital market volatility
• Debt service obligations
• Ongoing qualification as a REIT

As the offering progresses, the company continues to report steady capital formation alongside consistent monthly distributions.