Northern Virginia State of the Market

Chris Clemente founded the Comstock organization in 1985 and has guided its growth and diversification since its inception. Mr. Clemente managed the growth of Comstock as a private enterprise until the 2004 initial public offering of Comstock Homebuilding Companies, Inc. (NASDAQ: CHCI), now known as Comstock Holding Companies®, Inc. (“Comstock” or “Company”). Since the IPO, Mr. Clemente has served as Chairman of the Board and Chief Executive Officer of Comstock and is the largest individual stockholder of the Company. Mr. Clemente chairs Comstock’s Executive Committee, which charts strategic direction, evaluates acquisition opportunities, and oversees strategic partnerships, including multiple public-private partnerships. Mr. Clemente is also Managing Member of Comstock Partners, LC (“Partners”), a family-owned, private company founded by Mr. Clemente in 1999 to focus on commercial real estate development and investment. Following its IPO, Comstock expanded its for-sale homebuilding operation into multiple key markets in the southeastern United States, while the commercial development operation of Partners remained focused on the Washington, DC market. Following the Great Recession, Comstock scaled back its for-sale homebuilding operation to focus solely on the Washington, DC market. Mr. Clemente managed the two companies as separate firms with distinct management teams and investment objectives until early 2018, when Comstock announced its plan to wind-down its for-sale homebuilding operation and refocus on commercial development, real estate asset management, and real estate related services. To execute this strategic plan, the operating platforms of Comstock and Partners were combined, and changes were made to the management team. To anchor the transition, Partners entered a long-term, cost-plus asset management agreement covering its portfolio of commercial properties, which had grown to include millions of square feet of stabilized buildings and development assets strategically located at key transit stations on Metro’s new Silver Line in the Dulles Corridor of Northern Virginia that have an estimated value at full build out of approximately $3 billion. Key assets included in the portfolio of managed assets, include; Reston Station, a 4.5 million square foot transit-oriented and mixed-use development covering nearly 40 acres surrounding the terminus station of Phase I of the Silver Line in Reston, Virginia, and Loudoun Station, a 2+ million square foot transit-oriented and mixed-use development located adjacent to the terminus station of Phase II of the Silver Line in Ashburn, Virginia. Mr. Clemente attended the University of Wisconsin and George Mason University where he studied Business and Psychology. Mr. Clemente and his wife, Tracy Schar, have been long-time supporters of numerous charitable organizations in the Washington, DC region that support international adoptions, foster care programs, and that provide educational, housing and other assistance to families and children in-need.

BACKGROUND Nunzio is the founding partner of Nunzio Marc DeSantis Archi- tects. His approach to architecture is based on 40 years of experience and an understanding of hospitality requirements related to developing truly unique and memorable architecture and environments. Nunzio is very involved in the design of projects and begins each by understanding challenges, local architectural vernacular, culture, weather, and materials. Nunzio leads teams by estab- lishing early concepts through drawing and exploration which determines a project’s architectural planning, individuality, style, and expression. Nunzio has completed more than 60,000 hotel rooms located throughout the world including a variety of hotel types, from limited-service hotels to entertainment and gaming hotels, to ultra-luxury one-of-a-kind boutique resorts. His hotels and resorts be found in a vast number of architectural, hospitality and travel publications. EDUCATION Master of Architecture | Texas A&M University Bachelor of Environmental Design | Texas A&M University AFFILIATIONS Fellow, American Institute of Architects U.S. Green Building Council LEED® Accredited Professional

Mr. Regan-Levine has served as our Chief Strategy Officer since 2024, prior to which he served as Executive Vice President of Research and Strategic Innovation in our Investments Group since 2018. In that role he was responsible for guiding the firm’s investment strategy with data and analytics and driving large scale strategic initiatives, investor relations, and special projects. Prior to the formation, Mr. Regan-Levine worked at JBG beginning in March of 2013 in the Investments Group. Before joining JBG, he worked at Monday Properties and JLL. Mr. Regan‐Levine holds a Bachelor of Arts in Government from Georgetown University, where he graduated Magna Cum Laude.

As the President of Rappaport, Henry Fonvielle oversees the leasing strategy for third-party landlord and tenant representation services and all shopping centers within the company’s extensive portfolio. Dedicated to reinvigorating, designing, and constructing top-tier mixed-use developments and shopping centers within the D.C. market, Henry utilizes over 35 years of experience in the retail industry to create well-organized and exceptional projects from conception to completion. With comprehensive knowledge in a wide array of retail types including urban, mixed-use, neighborhood, lifestyle, and power centers, Henry is recognized as a trusted retail advisor and an expert in the commercial real estate industry.  His ability to form and cultivate close-knit partnerships within his team and among his clients enhanced Rappaport’s reputation as a well-respected and experienced firm committed to cultivating places. Under his leadership, the company’s leasing and brokerage portfolio soared from 35 to over 170 properties. Prior to joining Rappaport, Henry was Senior Vice President and Retail Department Head for the Vornado/Charles E. Smith Commercial Realty.  Henry is Co-Founder of the Skyland Workforce Center Leadership Council, member of the Executive Leadership Team for the Alzheimer’s Association – Ride to End ALZ, Emeritus member of the Foundation Board and Ball Chair of Children’s National Hospital, member of the Bisnow Diversity Board, Board member for Tall Ship Providence Foundation, Board member and Gala Chair for Atlas Performing Arts Center, and At-Large member of the Board of the USTA-Mid-Atlantic. Henry formerly served as Vice-Chair for Washington Tennis and Education Foundation, Board member for Federal City Council and Washington DC Economic Partnership.

Paul Weinschenk is Chief Operating Officer at Peterson Companies where he oversees all aspects of the company’s retail, office, and industrial operating portfolios, including asset management, leasing, risk management, and marketing. Previously, he was Vice President and Managing Director for the Retail Division at Washington Real Estate Investment Trust (WRE) and oversaw the growth and operations of WRE’s then 2.4 million square foot retail portfolio. Prior to that, he spent 15 years at Peterson Companies as Vice President of Retail Development and was instrumental in the development and leasing of Fairfax Corner, Virginia Gateway and East Market among others. He is an active member of the International Council of Shopping Centers and served a three-year term as State Director for Maryland, Northern Virginia and the District of Columbia. Paul is also past President of the University of Virginia School of Architecture Foundation. Paul holds a B.S. in Architecture from the University of Virginia and a Masters of Business Administration from The Keenan-Flagler Business School at The University of North Carolina.

Aakash Thakkar joined EYA in 2004 as a Development Executive and now is a Executive Vice President for Acquisition and Development with EYA. His responsibilities include overall project stewardship, new deal sourcing and acquisition, site selection, and project development through the design and governmental and community approval process. Mr. Thakkar is a member of and guest speaker for the Urban Land Institute and the District of Columbia Building Industry Association. He is a member of the Smart Growth Recognition Award Jury, the Riverdale Park Mixed-Use Town Center Committee, and of the Hyattsville CDC Board. He was a member of the Obama for American Mid-Atlantic Finance Committee and a co-founder (along with his wife) of the Thakkar/Giallourakis Scholarship Fund for St. John's College High School. Mr. Thakkar has a BS in Accounting and Political Science from LaSalle University and holds both an MBA and a Masters in City and Regional Planning from Rutgers University. Mr. Thakkar is a native Washingtonian.

Neal began his career in real estate with Avalon Bay, a publicly traded multifamily real estate investment trust. He subsequently served as Development Manager for Ozymandius Realty, a Lower Manhattan developer and on various real estate ventures. Neal earned his Bachelor of Science in Business Administration from American University and his Master of Science in Real Estate Development (“MSRED”) from Columbia University.

Greg Van Wie is Vice President, Director of Development for Jefferson Apartment Group headquartered in McLean, Virginia. He is responsible for underwriting new development projects and overseeing site acquisition, development and construction activities. While with Jefferson Apartment Group, Mr. Van Wie has had direct oversight of multiple projects, totaling almost 1,000 units of new development. Mr. Van Wie has ten-plus years of industry experience in the development, construction, and operation of large-scale multi-family and commercial developments. Prior to joining Jefferson Apartment Group, Mr. Van Wie was employed by Bonaventure Realty Group, where he served as the Asset Manager of a 13-property portfolio of apartment communities totaling over 4,000 units. Prior to joining Bonaventure in 2009, Mr. Van Wie worked for JPI East and Clark Construction in multiple preconstruction and project management roles throughout the Mid-Atlantic. Mr. Van Wie graduated from the University of Virginia with a Bachelor’s of Urban and Environmental Planning and received a Masters of Science in Real Estate from Johns Hopkins University. Mr. Van Wie is a member of the Executive Committee of the JHU Real Estate Alumni Forum. He is also a Co-Chair of DCBIA’s Young Leader’s Committee and a member of the Urban Land Institute. Mr. Van Wie is married with one child and lives in the District of Columbia.

Peter Braunohler serves as Managing Director of Development in the Mid-Atlantic region. He is responsible for all aspects of the development process, including sourcing, financing, and executing multifamily and mixed-use projects. Prior to joining Mill Creek, Mr. Braunohler was the development lead of Maryland-based multifamily investment firm Commonwealth Residential, where he spearheaded the partnership’s value-add acquisition strategy. Peter has past experience in construction management and architecture in both the commercial and residential sectors. Mr. Braunohler earned a Bachelor of Science in Philosophy from Bowdoin College and a Master’s Degree in Real Estate Finance from Georgetown University. He is also an active member of the DC Real Estate Group and the Urban Land Institute.

Tim Steffan serves as Chief Operating Officer of Comstock, where he oversees the company's asset management, leasing, and development operations across its mixed-use and transit-oriented portfolio in the Washington, D.C. region. A member of Comstock's Executive Management Committee, Tim has been instrumental in shaping the company's strategic direction since joining in 2018. Tim brings more than 30 years of commercial real estate experience across retail, office, multifamily, mixed-use, and hotel asset types in major markets throughout the U.S. Prior to Comstock, he held senior executive roles with several publicly traded real estate companies, including President & Head of Eastern U.S. Division at RPAI, Inc. and various executive positions at Macerich (NYSE: MAC), a Fortune 500 owner/operator of regional malls and urban mixed-use portfolios. Tim holds a B.A. from Syracuse University and dual MBAs from Northeastern University and American University's Kogod School of Business. He is a Certified Shopping Center Manager, a member of the International Council of Shopping Centers, and serves on the Executive Board of the Fairfax County Chamber of Commerce.

As Chief Operating Officer, Jennifer Burns drives operational excellence and strategic innovation across Monday Properties' diversified real estate portfolio. She leads operations and asset management spanning property management, information technology, leasing and marketing, while providing strategic oversight of the firm's portfolio, including 8,000 multifamily units and 2.5 million square feet of office space. Jennifer plays a pivotal role in the firm's acquisition strategy, leading strategic due diligence and capital allocation decisions that inform critical investment opportunities. She oversees major capital improvement initiatives across the portfolio, driving strategic enhancements that elevate property value and optimize tenant experience. Recognized as a leader in proptech innovation, Jennifer directs implementation of wellness certifications and sustainability initiatives, including Fitwel, LEED and Energy Star programs. She has established strategic partnerships with industry leaders to deploy cutting-edge technology solutions that create competitive advantages and drive portfolio performance. Since joining Monday Properties in 2011, Jennifer has been recognized as a standout industry leader. In 2024 alone, Jennifer was honored with three notable distinctions including the Washington Business Journal's Women Who Mean Business award, Bisnow's DMV Women Leading Real Estate recognition, and Connect CRE's Women in Real Estate designation. She was previously named to GlobeSt. Real Estate Forum's Women of Influence list and recognized as one of the Washington Business Journal's 40 Under 40. Prior to joining Monday Properties, Jennifer was a property manager at CB Richard Ellis, managing day-to-day operations of a 1 million square foot portfolio in Rosslyn. Earlier in her career, she was a Community Manager at Archstone-Smith managing several multifamily units in Fairfax and Arlington, Virginia. Jennifer holds a bachelor's degree in government and international politics from George Mason University and serves in leadership roles with industry associations including IREM Chapter 77 and AOBA.

Katie oversees the leasing of TMG’s 5.6 million square foot office portfolio. She manages both landlord and tenant broker relationships and leads all proposal and lease negotiations on TMG’s behalf. Katie has over 22 years of experience in commercial real estate, including in-house leasing, brokerage and market research. Prior to joining TMG, Katie was a vice president with Boston Properties, where she oversaw the company’s Reston Town Center portfolio. She began her career with Lincoln Property Company, where she focused on research and brokerage in Washington, DC. Katie received her B.S. in management from Georgetown University.

Bob joined Walsh, Colucci, Lubeley & Walsh in 2015 and is an associate in the firm’s Land Use & Zoning practice group. His practice focuses on securing zoning and land use entitlements including rezonings, special exceptions, special use permits and development special use permits in Fairfax County, the City of Alexandria, the City of Fairfax and the Town of Vienna. Prior to joining Walsh Colucci, Bob gained valuable experience representing condominium and homeowners associations throughout Northern Virginia. Bob graduated from the Columbus School of Law at the Catholic University of America in Washington, DC after earning a Bachelor’s degree in government from the College of William and Mary. He and his family currently reside in Fairfax County.