The information included in this document is reliable through the date of the private offering memorandum of the Trust (the “Memorandum”) and is subject to change without notice. MHC Affordable Housing Trust Manager V, LLC, (the “Manager”) and MHC Affordable Housing DST V (the “Trust”) do not assume any obligation to update or otherwise revise this document. To the extent that any information herein is based on information from other transaction parties, 3rd parties or public sources, such information has not been independently verified by the Trust or any of its affiliates and is subject to change from time to time, without notice.  This document is not intended to constitute investment advice, nor does it constitute an offer to sell or a solicitation of an offer to buy any security, investment product, or service on the terms herein; such offers will be made to suitable investors exclusively by the Memorandum relating to such securities.  Recipients must consult their own advisers prior to making any decision in respect of such information.  Portfolio characteristics and other information are provided as of the dates set forth herein.  Current or future characteristics and other information may vary significantly from those provided herein and the Trust undertakes no obligation to notify the recipient of any such variances. Past performance does not guarantee future results.  Certain information included in this presentation and other statements or materials published or to be published by the Trust may be considered forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new and existing products, expectations for market segment and growth, and similar matters.  Forward-looking statements can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue,” “believe” or the negatives thereof or other variations thereon or comparable terminology.

Investing in the DST will involve significant risks, including possible loss of your entire investment. An investment in the DST will be illiquid, as there is no secondary market for the DST’s interests, and none is expected to develop; and there will be substantial restrictions on transferring such interests. Accordingly, an investor may be required to maintain its interest in the DST for an indefinite period of time. See the section entitled “Certain Risk Factors” of the DST’s PPM to read about the more significant risks you should consider before investing. As a result, returns to investors could be materially reduced. Investors should have the financial ability and willingness to accept the risk characteristics of the DST. Prospective investors should make their own investigations and evaluations of the information contained in this material and the other Operative Documents.

In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, the Trust provides the following cautionary remarks regarding important factors which, among others, could cause actual events or results or the actual performance of the Trust to differ materially from the anticipated events, results, performance, or other expectations expressed in the Trust’s forward-looking statements.  The risks and uncertainties that may affect the operations, performance, development, and results of the Trust include, but are not limited to: (i) changes in the business environment in which the Trust operates, including global GDP changes, the level of international trade, inflation and interest rates; (ii) changes in taxes, governmental laws, and regulations; (iii) competitive product and providing activity; (iv) difficulties of managing growth profitably; and (v) the loss of one or more members of the Manager’s management team. By accepting this document you agree to be bound by the foregoing limitations.

SUMMARY OF KEY RISK FACTORS
The Interests offered hereby are highly speculative. An investment in an Interest involves substantial risks. Investors must read and carefully consider the discussion set forth in the Memorandum under “RISK FACTORS” for a complete discussion of risks. Risks of an investment in an interest include, among other things, the following:

• Complete reliance on the Master Tenant to pay the rent and to operate the Properties;
• Limited control over the operation of the Properties;
• Lack of liquidity;
• Holding a beneficial interest in the Trust without any voting rights;
• Long-term nature of the Master Lease;
• Limited diversity of investment;
• Various conflicts of interest among the Sponsor, the Trust, the Master Tenant, and their affiliates;
• Various risks associated with occupancy and ownership of real estate generally and specifically with ownership of mobile home communities in Michigan, Ohio, Indiana, and Wisconsin;
• Properties will be leveraged;
• Certain tax risks; and
• Changes in interest rate levels and volatility in the capital markets
Any capitalized terms not otherwise defined herein shall have the meanings given to such terms in the Memorandum.