Year Event Conventional Investment
(no US Freedom Capital Opportunity Zone Funds )
US Freedom Capital Opportunity Zone
Funds Investment
Year 0 Year 0 Capital Gain $1,000,000 $1,000,000
Net Investment at US Freedom Capital Opportunity Zone Funds(post CG tax) $762,000 $1,000,000
Conventional Investment
(no US Freedom Capital Opportunity Zone Funds )
Acct Balance
US Freedom Capital Opportunity Zone Funds
Acct
Year 4 Year 4 Project 1 capital event proceeds $1,332,743 $1,749,006
Year 4 Less: Capital Gain Tax at 23.8% ($135,837) 0
Year 4 US Freedom Capital Opportunity Zone Funds reinvests in Project 2 $1,196,906 $1,749,006
Year 7 Year 7 Deferred tax due on original CG after 15%
US Freedom Capital Opportunity Zone Funds step-up in basis
0 ($213,365)
Year 8 Year 8 Project 2 capital event proceeds $2,093,396 $3,059,023
Year 8 Less: Capital Gain Tax at 23.8% ($213,365) 0
Year 8 Opportunity Fund reinvests in Project 3 $1,880,031 $3,059,023
Year 12
Year 12 Project 3 capital event proceeds $3,288,187 $5,350,250
Year 12 Less: Capital Gain Tax at 23.8% ($335,141) 0
Year 12 Investment returned to investor 2,953,046 $5,350,250
Investment Returns (Net Cash Post-CG Tax) $ $1,953,046 $4,147,950
Investment Returns (Net Cash Post-CG Tax) IRR 9.44% 14.27%

Assumptions