Full Disclosure

1. General Disclosure

Fundrise, LLC ("Fundrise") operates a website at www.fundrise.com (the "Site"). The information contained on the Site neither constitutes an offer for nor a solicitation of interest in any securities offering; however, if an indication of interest is provided, it may be withdrawn or revoked, without obligation or commitment of any kind prior to being accepted following the qualification or effectiveness of the applicable offering document, and any offer, solicitation or sale of any securities will be made only by means of an offering circular, private placement memorandum, or prospectus. No money or other consideration is hereby being solicited, and will not be accepted without such potential investor having been provided the applicable offering document. Joining the Site neither constitutes an indication of interest in any offering nor involves any obligation or commitment of any kind.

Fundrise Advisors, LLC ("Fundrise Advisors"), an affiliate of Fundrise, is registered with the Securities and Exchange Commission as an investment adviser under the Investment Advisers Act of 1940. Financial advisory services are only provided to investors who become Fundrise Advisors Clients ("Clients") pursuant to a written Client Agreement, which investors are urged to read, along with Part 2 of Fundrise Advisors's Form ADV, and carefully consider in determining whether such agreement is suitable for their individual facts and circumstances.

PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS, AND ANY EXPECTED RETURNS OR HYPOTHETICAL PROJECTIONS MAY NOT REFLECT ACTUAL FUTURE PERFORMANCE. FURTHERMORE, PAST RETURNS MAY REFLECT THE PERFORMANCE OF ASSETS FOR A FINITE TIME, OR DURING A PERIOD OF EXTREME MARKET ACTIVITY. ALL INVESTMENTS INVOLVE RISK AND MAY RESULT IN PARTIAL OR TOTAL LOSS. There can be no assurance that an investment mix or any projected or actual performance shown on the Site will lead to the expected results shown or perform in any predictable manner. It should not be assumed that investors will experience returns in the future, if any, comparable to those shown or that any or all investors on the Site experienced such returns.

Fundrise Ratings are for informational purposes only. Each rating is impersonal and not individualized for any specific investor's financial situation and is not investment advice. These ratings are not intended to be, nor should you interpret them to be, a prediction of how a particular asset will actually perform. Fundrise Ratings as presented in the risk spectrum for each asset held by an eDirect investment product are relative solely to the other assets held by such eDirect investment product, and may not be directly comparable to the position of other assets held by other eDirect investment products. Each investor should always carefully consider investments in any security and be comfortable with his/her understanding of the investment.

All product names, logos, and brands are property of their respective owners. Use of these names, logos, and brands is for identification purposes only, and does not imply endorsement or affiliation.

Fundrise Lending, LLC operates in California under CFL license #60BDO 42088.

Services available on the Site do not constitute "crowdfunding" as described in Title III of the Jumpstart Our Business Startups Act ("JOBS Act").

As communications in our industry are highly regulated, please review the Fundrise Commenting Guidelines before leaving any comments or reviews on any social media network.

2. Performance Disclosure

Performance information is presented net of all management fees and expenses unless marked otherwise. Commissions are not considered since investors on the Site are not charged trading commissions or any other transaction-based fees. For all periods the performance information includes the reinvestment of dividends and interest unless otherwise noted.

Average annualized returns only include returns of investments sponsored by Rise Companies Corp. and does not include returns, if any, of investments directly in Rise Companies Corp. itself.

Any comparison to traditional financial advisors is based on an evaluation of average fees and returns. Fee comparisons to non-traded REITs are based upon the fees typically charged by non-traded REITs as described in the SEC’s “Investor Bulletin: Non-traded REITs” available here. Actual results may be different for each investor and there can be no guarantee of enhanced returns due to investing on the Site or the use of Fundrise Advisors’ services or recommendations.

Projected return ranges for each plan are based on the weighted average projected returns of each eREIT or eFund offering in that plan’s allocation, which are in turn based on the weighted average projected return of each individual real estate asset held by that offering, as disclosed in each eREIT and eFund’s offering circular and supplements thereto, minus assumptions for fees, expenses, and potential downside costs as detailed below. In the event that an eREIT or eFund has not yet invested more than 10% of its initially qualified maximum offering amount, the projected return used for such eREIT or eFund is the time-weighted average annualized total return since inception of all other offerings of the same type (eREIT or eFund as appropriate), as of December 31, 2017. Projections are revised periodically as deemed necessary by Fundrise Advisors.

The projected annual return range consists of two figures: a low-end projection and a high-end projection. The base case, low-end of the projection is based on (1) the weighted average of (1a) the annual interest rate for each debt asset, (1b) the annual preferred return for each preferred equity asset, and (1c) the base case projected annual return for each equity asset, as disclosed in the Form 1-U filings for each respective asset, then (2) discounted by approximately 15% on a relative basis to take into account various potential downside scenarios and offering-level costs, and finally (3) further discounted by 1.00% on an absolute basis to take into account the maximum potential total fees of 0.15% annual advisory fee and the 0.85% annual asset management fee. Each asset’s weight is the offering’s total dollar commitment to that asset divided by the total dollar commitment to all assets held by the offering. In cases where the total dollar commitment to an asset is an estimated range, we use the upper end of that range. However, there can be no assurances that these projections will ultimately be correct, or that investors will experience any returns similar to those projected here.

The high-end of the projection is based on (1) the weighted average of (1a) the annual interest rate for each debt asset, (1b) the annual preferred return for each preferred equity asset, and (1c) the upside projected annual return for each equity asset, as disclosed in the Form 1-U filings for each respective asset, then (2) discounted by approximately 2.50% on a relative basis to take into account various potential downside scenarios and any offering-level costs, and finally (3) further discounted by 1.00% on an absolute basis to take into account the maximum potential total fees of 0.15% annual advisory fee and the 0.85% annual asset management fee. Each asset’s weight is the offering’s total dollar commitment to that asset divided by the total dollar commitment to all assets held by the offering. In cases where the total dollar commitment to an asset is an estimated range, we use the upper end of that range. However, there can be no assurances that these projections will ultimately be correct, or that investors will experience any returns similar to those projected here.

The “projected growth of investment” chart shows the selected beginning principal amount, compounded annually for the selected number of years, at a rate of return being equal to the midpoint between the base case and high-end projected returns for that plan (e.g., for a base case projection of 8% and a high-end projection of 10%, the rate of return would be 9%).

All relevant information about the assets held by each eREIT and eFund may be found in their respective offering circulars, all of which are available at https://fundrise.com/oc.

Information about the allocation of each eREIT or eFund offering within a specific investment plan is available in the “Top Questions” section on that plan’s detail page.

Projected returns are inclusive of appreciation and dividend reinvestment, and net of fees as described above.

Projected and/or hypothetical performance does not represent an actual investment in any of the offerings sponsored by Rise Companies Corp. (offering circulars available at fundrise.com/oc), may not reflect the potential effect of material economic and market related factors, and do not represent the actual performance or experience of any given investor on the Fundrise Platform.

The funds managed by Fundrise Advisors generally pay quarterly distributions that may consist of ordinary dividends, capital gains, and/or nondividend distributions. However, the tax characteristics of these distributions (i.e., dividend income, nondividend distributions, and capital gains) cannot be determined until after the end of the year. Since Fundrise Advisors cannot know the taxability of each fund's distributions during the year, unadjusted effective yields are calculated and presented. After the end of each year, each entity required to report changes in tax basis shall publicly post a Form 8937 disclosing the nondividend distribution portion of such distributions.

Actual investors on the Site may experience different results from any hypothetical results shown. There is a potential for loss, as well as gain, that is not reflected in the hypothetical information portrayed. The hypothetical performance results shown do not represent the results of actual investment activity but were achieved by means of the retroactive application of a model designed with the benefit of hindsight. Investors should carefully review the additional information presented on the Site as part of any hypothetical comparison.

The return, composite and performance information shown on the Site uses or includes information compiled from third-party sources, including independent market quotations and index information. While we believe the third-party information comes from reliable sources, but we do not guarantee the accuracy of the Site information and may receive incorrect information from third-party providers. Unless otherwise indicated, the information on the Site has been prepared by us and has not been reviewed, compiled or audited by any independent third-party or public accountant.

ANY COMPARISONS TO INDICES ARE PROVIDED FOR ILLUSTRATIVE PURPOSES ONLY. AN INDEX IS A BROADLY DIVERSIFIED, UNMANAGED GROUP OF SECURITIES, WHICH MAY INCLUDE ONLY LARGE CAPITALIZATION COMPANIES OR COMPANIES OF A CERTAIN SIZE. BROADLY BASED INDICES MAY BE SHOWN ONLY AS AN INDICATION OF THE GENERAL PERFORMANCE OF THE FINANCIAL MARKETS DURING THE PERIODS INDICATED. BECAUSE OF THE DIFFERENCES BETWEEN THE INVESTMENTS AVAILABLE ON THE SITE AND ANY INDICES SHOWN, INVESTORS ARE CAUTIONED THAT NO INDEX IS DIRECTLY COMPARABLE TO THE PERFORMANCE SHOWN SINCE EACH INDEX HAS ITS OWN UNIQUE RESULTS AND VOLATILITY, AND SUCH INDICES, IF SHOWN, SHOULD NOT BE RELIED UPON AS AN ACCURATE COMPARISON.

3. Fundrise Advisors Fee and Account Disclosures

Recommendations, services and fees by Fundrise Advisors may vary for each Client. Advisory fees, if any, are calculated based upon the amount of assets being managed (as detailed further in Fundrise Advisors's Form ADV Part 2).

Description of "Free." Certain services offered by Fundrise Advisors to individual investors may be free of advisory fees; however, management and/or other fees may be charged by Fundrise Advisors to the funds it manages, each of which are affiliated entities of Fundrise Advisors.

Fee waivers only apply to management fees charged by Fundrise Advisors, LLC (an affiliate of Fundrise) for investment advisory services and does not include any fees or expenses charged by Fundrise Advisors, LLC or its affiliates to the individual funds available on the Fundrise Platform (e.g., the eREITs and eFunds). Not all referrals will be considered valid. Fundrise Advisors reserves the right, in its sole discretion, to determine that fee waivers are not warranted, and/or to change the terms of the invitation program with or without notice to you. This promotion is not valid with any other offers and is non-transferrable. Offer available to U.S. residents only. Fundrise Advisors reserves the right to terminate this offer at any time for any reason, and to refuse to honor any fee waiver if Fundrise Advisors determines that it was obtained under wrongful or fraudulent circumstances, that inaccurate or incomplete information was provided in opening the account or connecting the bank account, that any rules or regulations would be violated, or that any terms of the Fundrise Client Agreements have been violated.

4. Offering Disclosure

The publicly filed offering circulars of the issuers sponsored by Rise Companies Corp., not all of which may be currently qualified by the Securities and Exchange Commission, may be found at www.fundrise.com/oc.

Some of the statements contained on the Site are forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. These statements involve known and unknown risks, uncertainties, and other factors that may cause the project's actual results, levels of activity, performance, or achievements to be materially and adversely different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. An investment in any issuer available on the Site involves substantial risks, including risk of partial or total loss of investment, and each investor should carefully consider the Risk Factors contained in each fund's offering circular available at fundrise.com/oc. Except as required by law, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to update publicly any forward-looking statements for any reason to conform these statements to actual results or to changes in our expectations.

Diversification does not guarantee profit or protect against loss.

The information presented regarding each issuer's offering, including information regarding financial status, business strategy, investment objectives, historical performance, projections, redemption plans, etc., merely constitute a summary of such information and is qualified in its entirety by the disclosure contained in each issuer's offering circular available at fundrise.com/oc. There can be no guarantee that any issuer available on the Site will achieve its business objectives or that it will become profitable.

Offers to sell, or the solicitations of offers to buy, any security can only be made through official offering documents that contain important information about risks, fees and expenses. Investors should conduct their own due diligence, not rely on the financial assumptions or estimates displayed on the Site, and are encouraged to consult with a financial advisor, attorney, accountant, and any other professional that can help you to understand and assess the risks associated with any investment opportunity.

The offerings available on the Site are being conducted as a continuous offerings pursuant to Rule 251(d)(3) of the Securities Act, meaning that while an offering of securities is continuous, sales of securities may happen sporadically over the term of such offering as we are able to process subscriptions. Further, the acceptance of subscriptions, whether via the Site or otherwise, may be briefly paused at times to allow us to effectively and accurately process and settle subscriptions that have been received.

Neither the SEC nor any state securities commission or regulatory authority approved, passed upon or endorsed the merits of any investment on the Site.

5. Rise Companies Offering (Fundrise iPO) Disclosure

Past performance is not indicative of future results. The information presented regarding Rise Companies Corp.'s historical performance is not indicative of future results, and is qualified in its entirety by disclosure contained in the Business and Management's Discussion and Analysis, as well as the other sections, of the Rise Companies Corp. Offering Circular. Any historical performance of Rise Companies Corp. may not reflect actual future performance and any investor in Rise Companies Corp. may experience different results from those shown. An investment in the Class B Common Stock of Rise Companies Corp. involves substantial risks, including the potential of total or partial loss of investment to investors. Each investor should carefully consider the Risk Factors in addition to the other information contained in the Rise Companies Corp. Offering Circular before purchasing shares. The risks and uncertainties discussed in the Offering Circular are not the only ones Rise Companies Corp. faces, but do represent those risks and uncertainties that we believe are most significant to its business, operating results, prospects and financial condition. Some statements in the Offering Circular and on this website, including statements in the Risk Factors, constitute forward-looking statements. Please refer to the section of the Offering Circular entitled "Statements Regarding Forward-Looking Information".

Unlike certain investment opportunities sponsored by Rise Companies Corp., such as eREIT and eFund, Rise Companies Corp. has not historically paid any dividends and has no present intention to begin paying dividends in the future. Any statements on www.fundrise.com discussing "average annualized returns", or similar terms, relate solely to investments sponsored by Rise Companies Corp. and are exclusive of investments in Rise Companies Corp. itself. Prospective investors should not expect that returns, if any, from an investment in Rise Companies Corp. will be as a result of dividends.

Disclosure presented regarding Rise Companies Corp.'s business strategy is qualified in its entirety by the disclosure contained in the "Business" section of the Rise Companies Corp. Offering Circular, which is available at fundrise.com/oc. There can be no guarantee that Rise Companies Corp. will achieve its business objectives or that it will become profitable.

Any projections on the future business initiatives of Rise Companies Corp. may not prove to be accurate, and are highly dependent on the assumption that Rise Companies Corp. continues to introduce new products that are successful in the marketplace, and are qualified in its entirety by the disclosure contained in the Rise Companies Corp. Offering Circular. However, there can be no guarantee that Rise Companies Corp. will achieve any of its business objectives, that it will get to scale or that it will become profitable. Investing in Rise Companies Corp. is an inherently risky investment that may result in total or partial loss of investment to investors.

The information presented regarding the number of people that have reserved a spot to invest represents the total number of Fundrise users who provided non-binding indications of interest in this offering, which may not be indicative of the actual demand for Rise Companies Corp. Class B Common Stock. Based on such information, we believe it is reasonable to expect that the Rise Companies Corp. offering will become fully subscribed, however, there can be no assurance that any of the Fundrise users who indicated interest in this offering will ultimately subscribe, or that Rise Companies Corp. will be able to raise the maximum offering amount.

Although Rise Companies Corp. intends to complete a transaction (such as a sale or registered initial public offering) providing liquidity to shareholders within five years from the completion this offering, its governing documents do not require it to pursue such a liquidity transaction. Market conditions and other factors could cause us to delay the listing of our shares on a national securities exchange or delay the commencement of a liquidation or other type of liquidity transaction, such as a merger or sale of assets, beyond five years from the termination of this offering. However, there can be no guarantee that any future liquidity event for shareholders will be profitable, and may result in a total or partial loss to investors.

6. Reviews and Comments Disclosure

All ratings and reviews are provided to the various independent social media sites voluntarily, and are included on the Fundrise Platform solely in accordance with the SEC’s Guidance on the Testimonial Rule and Social Media (March 2014). The average rating review is determined by the various independent social media sites, and not by Fundrise or any of its affiliates. Ratings and reviews are added continuously to the independent social media sites and average ratings are updated by the independent social media websites and not by Fundrise or any of its affiliates.

The ratings and experience of investors may not be representative of the experiences of all investors and is not indicative of any future success. The accuracy of information included in the ratings and reviews cannot be guaranteed by Fundrise or any of its affiliates.

As communications in our industry are highly regulated, please review the Fundrise Commenting Guidelines before leaving any comments or reviews on any independent social media website.