(1) Paladin Realty Income Properties, Inc.’s common shares are not currently listed on a national securities exchange, the NASDAQ Stock Market, or any over-the-counter market. Although Paladin Realty Income Properties, Inc.’s articles of incorporation permit it to list the common shares on or before February 23, 2015, Paladin Realty Income Properties, Inc. does not expect the common shares to become listed in the near future, and they may not become listed at all.