|RECORD DATE||PAYMENT DATE||AMOUNT/SHARE||REASON|
|12/23/2011||12/28/2011||$0.30000000||Estimated appreciation in the value of the REIT’s assets.|
|2/14/2012||2/17/2012||$0.02309337||Gain on the sale of one Roseville building|
|4/16/2012||4/30/2012||$0.02500000||Gain on extinguishment of debt related to 1635 N. Cahuenga, disposition of partially improved land in the Roseville portfolio and increase valuation of the REIT’s real estate assets.|
|7/20/2012||7/31/2012||$0.35190663||Estimated appreciation in the value of the REIT’s assets.|
|3/22/2013||4/4/2013||$0.06153498||Gain from the unsolicited sale of one building in the Richardson Portfolio|
|11/13/2013||12/5/2013||$0.38000000||Gain on foreclosure of real estate loan receivable, gain on sale of real estate and other estimated taxable income|
|12/7/2017*||1/17/2018||$3.61000000||Gain on sale of the Singapore Portfolio (20% paid in cash, 80% paid in stock)|
|9/14/2018||9/19/2018||$ 0.01597500||Ongoing Operations|
|11/12/2018||12/19/2018||$ 2.95000000||Gain on sale of Park Highlands land (20% paid in cash, 80% paid in stock)|
|3/14/2019||3/19/2019||$ 0.00860000||Ongoing Operations|
|6/14/2019||6/19/2019||$ 0.00860000||Ongoing Operations|
* On December 7, 2017, the REIT’s board of directors authorized the Special Dividend of $3.61 per share of common stock payable in either shares of the REIT’s common stock or cash to, and at the election of, the stockholders of record as of December 7, 2017 (the “Record Date”). The Special Dividend was paid on January 17, 2018 to stockholders of record as of the close of business on the Record Date. If stockholders elected all cash, their election was subject to adjustment such that the aggregate amount of cash distributed by the REIT was a maximum of 20% of the total Special Dividend (the “Maximum Cash Distribution”), with the remainder paid in shares of common stock. The aggregate amount of cash paid by the REIT pursuant to the Special Dividend and the actual number of shares of common stock issued pursuant to the Special Dividend depended upon the number of stockholders who elected cash or stock and whether the Maximum Cash Distribution was met. Accordingly, on January 17, 2018, the REIT paid $37.6 million (20%) in cash and issued $150.3 million (80%) in stock pursuant to the Special Dividend.
Pacific Oak Strategic Opportunity REIT’s organizational documents do not restrict it from paying distributions from any source and do not restrict the amount of distributions it may pay from any source, including offering proceeds or borrowings. Distributions paid from sources other than current or accumulated earnings and profits may constitute a return of capital. A return of capital would reduce the amount the REIT would have for investment, which could reduce an investor’s return on their investment and subsequent investors will experience dilution. There are no guarantees Pacific Oak Strategic Opportunity REIT will continue to pay distributions or pay them at rates similar to those referenced above.