Simultaneous with the closing of the Real Estate Transaction, the Portfolio will be added to the existing triple-net master lease agreement between VICI Properties and PURE (the "PURE Master Lease") and annual rent will increase by CAD$16.1 million (USD$11.6 million) representing an acquisition capitalization rate of 8.0%. The Portfolio rent will escalate at 1.0% on the first February 1 following a full 12 months post-closing (in line with the timing of the PURE Master Lease escalation), and escalation will conform to the PURE Master Lease thereafter at the greater of 1.5% or the change in Canadian CPI (capped at 2.5%). Additionally, the term of the PURE Master Lease will be extended such that, upon closing of the Real Estate Transaction, the PURE Master Lease will have a full 25-year initial base lease term, with four 5-year tenant renewal options. The tenants' obligations under the PURE Master Lease will continue to be guaranteed by Indigenous Gaming Partners, Inc. ("IGP").