163 OCEAN AVENUE

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s payable 31,261 30,438 TOTAL CURRENT LIABILITIES 315,706 173,075 NON-CURRENT LIABILITIES Mortgage note payable 3,500,000 3,500,000 TOTAL LIABILITIES 3,815,706 3,673,075 STOCKHOLDERS' EQUITY Common stock: $1,440 stated value; 1,532 shares authorized and issued; 1,502 shares outstanding 2,206,080 2,206,080 Additional paid-in capital 518,450 518,450 Accumulated deficit (2,582,780) (2,451,003) 141,750 273,527 Treasury stock: 30 shares, at cost (67,188) (67,188) TOTAL STOCKHOLDERS' EQUITY 74,562 206,339 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 3,890,268 $ 3,879,414 $ LIABILITIES AND STOCKHOLDERS' EQUITY See accompanying notes to financial statements. -4-

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163 Ocean Tenants Corp. Notes to Financial Statements Note 5 MORTGAGE NOTE PAYABLE The mortgage was refinanced with Webster Bank on March 30, 2022. The significant provisions of the new mortgage are as follows: Amount: $3,500,000 Interest Rate: 3.00% Term: 10 Years Repayment Terms: Interest Only during the term of the mortgage In addition, the bank provided a $500,000 Line of Credit Loan with interest of 0.50% above the Bank's prime rate, but in no event below 3.75%. Repayment terms are interest only on an advance during the term of the loan. The mortgage note is collateralized by the land, building and improvements of the Corporation. Note 6 CORPORATE TAXES The financial statements do not contain a provision for federal income taxes due to cumulative net operating losses for income tax purposes which are available to be carried forward to future tax periods. Because the future utilization of these tax carryforward losses is uncertain, no related deferred tax ass

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ber 31, 2023; 3. 2026 Budget; 4. Maintenance Increase; 5. Special Assessment; 6. Unsold Shares Pledged as Collateral; 7. Board of Directors; 8. Underlying Mortgage; 9. FinCen Disclosure; 10. Other Cooperatives, Condominiums and Homeowners Associations Where the Successor Sponsor Has Greater than a Ten Percent Interest; 11. Financial Obligations Coming Due Within the Next 12 Months Under Plan; 12. The Successor Sponsor’s Means of Meeting its Financial Obligations During the Next 12 Months; 13. Status of the Successor Sponsor in Meeting its Financial Obligations under the Plan 14. Plan as Amended by this Amendment Is Incorporated by Reference; 15. Definition of Terms; 16. No Other Material Changes; and 17. Effective Period for Using the Plan is Extended. Exhibit “A” Schedule of Unsold Shares Exhibit “B” 2024 Financial Statement Exhibit “C” 2026 Budget 1. Unsold Shares. Epsilon Holdings, Ltd. and Hios Holdings, Ltd. (collectively, the “Successor Sponsor”) each own a

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t Director Mr. Niamonitakis is affiliated with the Successor Sponsor . The Successor Sponsor has never controlled the Board of Directors. 8. Underlying Mortgage. On March 30, 2022, the Board of Directors refinanced the Apartment Corporation’s underlying mortgage with Webster Bank in the principal amount of $3,500,00.00. The mortgage term is ten (10) years at an interest only rate of 3.00% commencing on May 15, 2022. The loan may be prepaid up to ten (10) percent of the unpaid principal balance without penalty. A prepayment fee will apply in years 1 through 9 of the loan. It will mature on April 15, 2032, at which time, a balloon payment of app roximately $3,500,000.00 will be due and must either be repaid or refinanced.

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s automatically each year thereafter until termination by written notice of at least thirty days prior by Cooperative or ninety days by ARGO. Note 8 FUTURE MAJOR REPAIRS AND REPLACEMENTS The Corporation’s governing documents do not require the accumulation of funds to finance estimated future major repairs and replacements. Except for the 2LS report described below, the Corporation has not conducted a study to determine the remaining useful lives of the components of common property and estimates of the costs of major repairs and replacements that may be required in the future, nor has the Board of Directors developed a plan to fund those needs. When funds are required for major repairs and replacements, the Corporation plans to use existing funds, borrow, increase maintenance assessments, implement a special assessment, or delay repairs and replacements until funds are available. The effect on future assessments has not been determined. 2LS Consulting Engineering ("2LS”) was retai

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108,250 Interest and other income 53,556 33,370 Rental income 60,000 60,000 Special assessments 52,031 26,623 Laundry 9,863 8,051 TOTAL REVENUES 973,591 974,824 OPERATING EXPENSES Administrative 185,863 178,101 Utility expenses 170,771 172,919 Maintenance expenses 188,730 207,746 Real estate taxes 333,740 307,521 Mortgage interest 106,750 106,458 TOTAL OPERATING EXPENSES 985,854 972,745 Excess (Deficiency) of Expenses over Revenues Before Other Items (12,263) 2,079 OTHER ITEMS Depreciation and Amortization (119,514) (114,994) TOTAL OTHER ITEMS (119,514) (114,994) Excess of Expenses over Revenues (131,777) (112,915) Beginning Accumulat

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s are required for major repairs and replacements, the Corporation plans to use existing funds, borrow, increase maintenance assessments, implement a special assessment, or delay repairs and replacements until funds are available. The effect on future assessments has not been determined. 2LS Consulting Engineering ("2LS”) was retained by the Corporation to evaluate the building's mechanical, electrical and plumbing systems ("MEP Systems”) and provide recommendations for any system upgrades to improve the services in the building and provide recommendations for any systems that are not compliant with the NYC Department of Buildings code. 2LS submitted a report dated April 13, 2018 which evaluated the Buildings MEP Systems and provided the required recommendations. The Corporation’s Board of Directors and management company have been and will continue to utilize the report to determine the extent and timing of its recommendations. Note 9 HOLDER OF UNSOLD SHARES As of December 31, 2024

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s of this Amendment 1. Unsold Shares; 2. Financial Statements for fiscal years ending December 31, 2024 and December 31, 2023; 3. 2026 Budget; 4. Maintenance Increase; 5. Special Assessment; 6. Unsold Shares Pledged as Collateral; 7. Board of Directors; 8. Underlying Mortgage; 9. FinCen Disclosure; 10. Other Cooperatives, Condominiums and Homeowners Associations Where the Successor Sponsor Has Greater than a Ten Percent Interest; 11. Financial Obligations Coming Due Within the Next 12 Months Under Plan; 12. The Successor Sponsor’s Means of Meeting its Financial Obligations During the Next 12 Months; 13. Status of the Successor Sponsor in Meeting its Financial Obligations under the Plan 14. Plan as Amended by this Amendment Is Incorporated by Reference; 15. Definition of Terms; 16. No Other Material Changes; and 17. Effective Period for Using the Plan is Extended. Exhibit “A” Schedule of Unsold Shares Exhibit “B” 2024 Financial Statement Exhibit “C” 2026 Budget 1

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HF 17751277v.1 2 4. Maintenance Increase . On January 17, 2025, the Board of Directors approved an 8% maintenance increase effective January 1, 2025. The increase was instituted to cover increased expenses. 5. Special Assessment. On May 21, 2025, the Board of Directors implemented a one -month assessment effective June 1, 2025, to offset the 2024/2025 Cooperative Property Tax Abatement. The assessment required each shareholder to make a one -time payment to the Apartment Corporation in the amount of approximately $35.34 per share. 6. Unsold Shares Pledged as Collateral. As of the date of this submission, certain Unsold Shares are pledged by the Successor Sponsor to Wells Fargo Bank, N. A., which purchased the residential mortgage servicing business from Flagstar Bank (successor to Signature Bank), as collateral for a loan in the original amount of $4,050,000.00, which as of December 2025 has a principal balance of $3,667,554,26. The loan is scheduled to mature on

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Notes to Financial Statements Note 3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) On January 18, 2024, the Board of Directors approved a 9% maintenance increase effective January 1, 2024. The increase was deemed necessary to cover increased expenses. On March 1, 2024, the Board of Directors approved a 9% storage unit fee increase effective April 1, 2024. The increase was deemed necessary to cover increased expenses. On February 7, 2023, the Board of Directors approved a 6% maintenance increase effective January 1, 2023 which was billed retroactively on March 1, 2023. The increase was deemed necessary to cover increased expenses. Special Assessment On May 28, 2024 the Board of Directors approved a one month, $34.30 per share special assessment effective June 1, 2024 approximating the NYC Coop tax abatements issued for period of July 1, 2023 through June 30, 2024. On June 28, 2023 the Board of Directors approved a one month, $17.73 per share special assessment effective August

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ded in the accompanying financial statements. Note 14 SUBSEQUENT EVENTS On May 21, 2025 the Board of Directors approved a one month, $35.34 per share special assessment effective June 1, 2025 approximating the NYC Coop tax abatements issued for period of July 1, 2024 through June 30, 2025. On April 21, 2025, the Board of Directors announced the completion of a new gym which would begin offering a monthly membership of $15 for renters and $10 for stockholders effective May 1, 2025. On January 17, 2025, the Board of Directors approved a 8% maintenance increase effective January 1, 2025. The increase was deemed necessary to cover increased expenses. - 12 -

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te tax abatements (57,899) (44,052) 752,895 699,797 Storage unit fees 45,246 38,733 Transfer fee income - 108,250 Interest and other income 53,556 33,370 Rental income 60,000 60,000 Special assessments 52,031 26,623 Laundry 9,863 8,051 TOTAL REVENUES 973,591 974,824 OPERATING EXPENSES Administrative 185,863 178,101 Utility expenses 170,771 172,919 Maintenance expenses 188,730 207,746 Real estate taxes 333,740 307,521 Mortgage interest 106,750 106,458 TOTAL OPERATING EXPENSES 985,854 972,745 Excess (Deficiency) of Expenses over Revenues Before Other Items (12,263) 2,079 OTHER ITEMS Depreciation and Amortization (119

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g the Company’s mortgage in 2022 have been capitalized and are being amortized using the straight-line method over the ten-year term of the mortgage. Transfer Fees The By-laws of the Corporation provide that selling stockholders pay a fee to the Corporation of 2% of the sale price of its unit. The amounts associated with 2023 sales not deposited as of December 31, 2023 has been recorded as other receivable. Note 4 REAL ESTATE TAX ABATEMENTS Pursuant to various real estate tax abatement programs, certain stockholders are entitled to real estate tax abatements. The abatements are credited against real estate taxes due on the property and the Corporation is required to pass on the abatements to eligible stockholders. The amount granted as of December 31, but not yet credited, has been recorded as real estate tax abatements/exemptions payable. SCRIE payable refers to real estate tax credit programs available on units owned by the holder of unsold shares. The credits are given against real