On August 30, 2021, David Lichtenstein submitted his resignation both as Chairman of the Board and as director of Lightstone Value Plus REIT V, Inc. (the "Company") to the Company's Board of Directors (the "Board"), effective immediately. On August 31, 2021, the Board appointed Mitchell C. Hochberg, who has served as the Company's Chief Executive Officer since September 2017, as a director and Chairman of the Board to fill the vacancy created by Mr. Lichtenstein's resignation and designated Mr. Lichtenstein as Chairman Emeritus. Mr. Hochberg will continue to serve as the Company's Chief Executive Officer. In addition to serving as the Company’s Chief Executive Officer, Mr. Hochberg also serves as President and Chief Operating Officer of Lightstone Value Plus Real Estate Investment Trust, Inc., Lightstone Value Plus Real Estate Investment Trust II, Inc., Lightstone Value Plus Real Estate Investment Trust III, Inc., and Lightstone Real Estate Income Trust, Inc. as well as their respective advisors. From October 2014 to the present, Mr. Hochberg has served as President of Lightstone Enterprises.