On December 19, 2023, the board of directors (the ?Board?) of Lightstone Value Plus REIT V, Inc. (the ?Company?) increased its size from seven members to eight members and appointed David Lichtenstein to fill the vacancy created thereby. Mr. Lichtenstein had previously served on the Board from September 2017 through August 2021 as Chairman. After Mr. Lichtenstein resigned from the Board in August 2021, he was designated Chairman Emeritus.

Mr. Lichtenstein has served and will continue to serve as Chief Executive Officer of the Company?s external adviser LSG Development LLC and LSG-BH II Property Manager LLC, the Company?s external property management company. Mr. Lichtenstein, 63, founded both American Shelter Corporation and The Lightstone Group, LLC. From 1988 to the present, Mr. Lichtenstein has served as Chairman of the Board of Directors and Chief Executive Officer of The Lightstone Group, LLC, directing all aspects of the acquisition, financing and management of a diverse portfolio of multi-family, lodging, retail and industrial properties located in 20 states and Puerto Rico.

From June 2004 to the present, Mr. Lichtenstein has served as the Chairman of the board of directors and Chief Executive Officer of Lightstone Value Plus REIT I, Inc. and Lightstone Value Plus REIT LLC, its advisor. From April 2008 to the present, Mr. Lichtenstein has served as the Chairman of the Board of Directors and Chief Executive Offer of Lightstone Value Plus REIT II, Inc. and Lightstone Value Plus REIT II LLC, its advisor. From October 2012 to the present, Mr. Lichtenstein has served as the Chairman of the board of directors of Lightstone Value Plus REIT III, Inc. and from April 2013 to the present, as the Chief Executive Officer of Lightstone Value Plus REIT III, Inc. and of Lightstone Value Plus REIT III LLC, its advisor.

From September 2014 to the present, Mr. Lichtenstein has served as Chairman of the Board of Directors and Chief Executive Officer of Lightstone Value Plus REIT IV, Inc.,, and as Chief Executive Officer of Lightstone Real Estate Income LLC, its advisor. From October 2014 to the present, Mr. Lichtenstein has served as Chairman of the Board of Directors and Chief Executive Officer of Lightstone Enterprises Limited. From July 2015 to the present, Mr. Lichtenstein has served as a member of the Board of Directors of the New York City Economic Development Corporation.

Mr. Lichtenstein is also a member of the International Council of Shopping Centers and the National Association of Real Estate Investment Trusts, Inc., an industry trade group, as well as a member of the Board of Trustees of Touro College and New York Medical College.