Lightstone Value Plus REIT
V, Inc. (the “Company,” “we,” “us,” or “our”) has a share redemption program, as amended
from time to time (the “SRP”), that permits certain of its stockholders to sell their shares of common stock (the “Shares”)
back to the Company, subject to significant conditions and limitations of the SRP. Our board of directors can amend the provisions of
our SRP at any time without the approval of our stockholders.
Our SRP is available only
for those stockholders who acquired their Shares directly from us or for the transferees mentioned in the next sentence, and is not intended
to provide liquidity to any stockholder who acquired their Shares by purchase from another stockholder. In connection with a request for
redemption, the stockholder or their estate, heir or beneficiary will be required to certify to us that the stockholder either (1) acquired
the Shares requested to be repurchased directly from us or (2) acquired the Shares from the original subscriber by way of a bona fide
gift not for value to, or for the benefit of, a member of the subscriber’s immediate or extended family (including the subscriber’s
spouse, parents, siblings, children or grandchildren and including step parents, step siblings, and biological, adopted or step children
and grandchildren) or through a transfer to a custodian, trustee or other fiduciary for the account of the subscriber or members of the
subscriber’s immediate or extended family in connection with an estate planning transaction, including by bequest or inheritance
upon death or operation of law (in each case, a “Qualifying Stockholder”).
On November 10, 2022, our
board of directors adopted a Seventh Amended and Restated Share Redemption Program (the “Amended SRP”), which will become
effective on January 1, 2023. Under the terms of the Amended SRP, any Qualifying Stockholder may request redemption of their Shares.
Redemption requests will no longer be limited to requests upon the death of a Qualifying Stockholder, as has been the case under the Sixth
Amended and Restated Share Redemption Program currently in effect through the end of this year.
Redemption Price
Under the terms of the Amended
SRP, the price at which we will redeem Shares submitted for redemption by a Qualifying Stockholder will be 85% of the estimated net asset
value (the “NAV”) per Share as of the date we determine to accept the request for redemption.
On November 10, 2022,
pursuant to the Company’s Policy for Estimation of Common Stock Value (the “Estimated Valuation Policy”), our board
of directors determined and approved the Company’s estimated NAV per Share of $14.75 as of September 30, 2022. As a result,
the initial redemption price per Share under the Amended SRP will be $12.54.
Redemption Limitations
Pursuant to the terms of the
Amended SRP, any Shares approved for redemption are redeemed on a periodic basis as determined by our board of directors, generally expected
to be at the end of each quarterly period. However, we will not redeem, during any calendar year, more than 5% of the number of Shares
outstanding on last day of the previous calendar year (the “5% Limitation”). The cash available for redemption of Shares will
be set by our board of directors not less often than annually (the “Funding Limitation” and, together with the 5% Limitation,
the “Redemption Limitations”). The board of directors has set the amount of cash available for redemption of Shares in 2023
at $8 million, which is generally to be allocated $2 million for each quarterly period. The Company may change the amount of
the Redemption Limitations upon ten business days’ notice to its stockholders. The Company will provide notice of any change to
the Redemption Limitations by including such information in (a) a Current Report on Form 8-K or in its annual or quarterly reports, all
publicly filed with the United States Securities and Exchange Commission or (b) a separate mailing to its stockholders.
Redemption requests will be
honored pro rata among all requests received subject to the Redemption Limitations and will not be honored on a first come, first served
basis.
Termination, Suspension or Amendment of Our SRP
Our board of directors reserves
the right in its sole discretion at any time and from time to time, subject to any notice requirements described in our SRP, to (1) reject
any request for redemption of Shares, (2) change the purchase price for redemption of Shares, (3) limit the funds to be used for
redemption of Shares under the SRP or otherwise change the Redemption Limitations, or (4) amend, suspend (in whole or in part) or
terminate the SRP.