Common use of Share Redemption Program Clause in Contracts

Share Redemption Program. Shareholders may request that we redeem Shares through their financial intermediary or directly with the Company’s transfer agent. The procedures relating to the redemption of Shares are as follows: ● Certain broker-dealers require that their clients process redemptions through their broker-dealer, which may impact the time necessary to process such redemption request, impose more restrictive deadlines than described under this Program, impact the timing of a Shareholder receiving redemption proceeds and require different paperwork or process than described in this Program. A Shareholder should contact its broker-dealer first if it wants to request the redemption of its Shares. ● Under this Program, to the extent the Company chooses to redeem Shares in any particular calendar quarter, the Company will redeem Shares using a purchase price equal to the Transaction Price as of the Redemption Date (which, for the avoidance of doubt, is generally determined on or around the twentieth (20th) Business Day following the Redemption Date), subject to the Early Redemption Fee (as defined below). o For each calendar quarter, a Shareholder may submit a redemption request and required documentation beginning the opening of business on the first Business Day of the applicable quarter and no later than 4:00 p.m. (Eastern time) on the last Business Day of the first month of the quarter (such deadline, the “Redemption Deadline” and such submission period, the “Redemption Window”). o For the avoidance of doubt, a redeeming Shareholder will not be eligible to receive distributions declared on or after the Redemption Date. Additionally, all Shares timely submitted for redemption and not withdrawn as of the Redemption Deadline, shall be excluded as of the Redemption Date from the Company’s NAV and such redeemed Shares will not bear fees or expenses, including but not limited to Management Fees, Performance Participation Allocation and Servicing Fees. ● Redemption requests received and processed by the Company’s transfer agent will be effected at the Transaction Price, subject to any Early Redemption Fee (as defined below). o For illustrative purposes, for redemptions occurring during the calendar quarter ended December 31, 2025, Shareholders may submit redemption requests until October 31, 2025, and accepted redemption requests will have a Redemption Date as of December 31, 2025, with a Transaction Price of the Redemption Date NAV (which should be determined on or around January 30, 2026). Such redeeming Shareholders shall receive distributions declared as of December 31, 2025, if any, but beginning January 1, 2026, shall be excluded from the Company’s NAV, and therefore, will not bear any fees or expenses nor receive any distributions. ● Settlements of redemptions will generally be made in cash approximately thirty-five (35) calendar days after the Redemption Date (e.g., a Shareholder requesting a December 31st redemption would generally be expected to receive a settlement on or around February 4th of the following year). ● A Shareholder may withdraw its redemption request by notifying the transfer agent, directly or through the Shareholder’s financial intermediary, on the Company’s toll-free, automated telephone line, +▇ (▇▇▇) ▇▇▇-▇▇▇▇. The line is open on each business day between the hours of 9:00 a.m. and 6:00 p.m. (Eastern Time). Redemption requests must be cancelled before 4:00 p.m. (Eastern Time) on the Redemption Deadline of the applicable calendar quarter. ● If a redemption request is received after 4:00 p.m. (Eastern Time) on the Redemption Deadline of the applicable calendar quarter, the redemption request will not be executed and, if a Shareholder still wishes to have its Shares redeemed, must be resubmitted after the start of the next quarter. Redemption requests received and processed by the Company’s transfer agent on a business day, but after the close of business on that day or on a day that is not a business day, will be deemed received on the next business day. All questions as to the form and validity (including time of receipt) of redemption requests and notices of withdrawal will be determined by us, in the Company’s sole discretion, and such determination shall be final and binding. ● Redemption requests may be made by mail or by contacting the Shareholder’s financial intermediary, both subject to certain conditions described in the Memorandum. If making a redemption request by contacting the Shareholder’s financial intermediary, the Shareholder’s financial intermediary may require the Shareholder to provide certain documentation or information. If making a redemption request by mail to the transfer agent, the Shareholder must complete and sign a redemption authorization form, which can be found at the end of this Program and which will be available on the Company’s website, ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇. Written requests should be sent to the transfer agent at the following address: Regular Mail ISQ Open Infrastructure Company LLC SS&C GIDS, Inc. P.O. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Corporate investors and other non-individual entities must have an appropriate certification on file authorizing redemptions. A signature guarantee may be required. ● For processed redemptions, Shareholders may request that redemption proceeds are to be paid by mailed check provided that the check is mailed to an address on file with the transfer agent for at least 30 days. Shareholders should check with their broker-dealer that such payments may be made via check or wire transfer, as further described herein. ● Shareholders may also receive redemption proceeds via wire transfer, provided that wiring instructions for their brokerage account or designated U.S. bank account are provided. For all redemptions paid via wire transfer, the funds will be wired to the account on file with the transfer agent or, upon instruction, to another financial institution provided that the Shareholder has made the necessary funds transfer arrangements. The customer service representative can provide detailed instructions on establishing funding arrangements and designating a bank or brokerage account on file. Funds will be wired only to U.S. financial institutions (ACH network members). ● A medallion signature guarantee will be required in certain circumstances. The medallion signature process protects Shareholders by verifying the authenticity of a signature and limiting unauthorized fraudulent transactions. A medallion signature guarantee may be obtained from a domestic bank or trust company, broker-dealer, clearing agency, savings association or other financial institution which participates in a medallion program recognized by the Securities Transfer Association. The three recognized medallion programs are the Securities Transfer Agents Medallion Program, the Stock Exchanges Medallion Program and the New York Stock Exchange, Inc. Medallion Signature Program. Signature guarantees from financial institutions that are not participating in any of these medallion programs will not be accepted. A notary public cannot provide signature guarantees. We reserve the right to amend, waive or discontinue this policy at any time and establish other criteria for verifying the authenticity of any redemption or transaction request. We may require a medallion signature guarantee if, among other reasons: (1) the amount of the redemption request is over $500,000; (2) the Shareholder wishes to have redemption proceeds transferred by wire to an account other than the designated bank or brokerage account on file for at least 30 days or sent to an address other than the Shareholder’s address of record for the past 30 days; or (3) the Company’s transfer agent cannot confirm the Shareholder’s identity or suspects fraudulent activity. ● If a Shareholder has made multiple purchases of any class of Shares, any redemption request will be processed on a first in/first out basis unless otherwise requested in the redemption request.

Share Redemption Program. Shareholders We expect that there will be no regular secondary trading market for shares of our common stock. While you should view your investment as long term with limited liquidity, we have adopted this share redemption program, whereby stockholders may request that we redeem Shares all or any portion of their shares in accordance with the procedures and subject to certain conditions and limitations described below. All references herein to the classes of our shares mean our Class E, Class T, Class S, Class D, and Class I shares, and not the OP Units issued by our Operating Partnership, unless the context otherwise requires. Due to the illiquid nature of investments in real property, we may not have sufficient liquid resources to fund redemption requests. In addition, we have established limitations on the amount of funds we may use for redemptions during any calendar month and quarter. See “Redemption Limitations” below. Further, our board of directors has the right to modify, suspend or terminate this share redemption program if it deems such action to be in the best interest of our stockholders. A stockholder’s request for redemption in accordance with any of the special treatment described below in the event of the death or qualifying disability of a stockholder must be submitted within 18 months of the death of the stockholder or the initial determination of the stockholder’s disability (which we define as such term is defined in Section 72(m)(7) of the Code), as further described below. You may request that we redeem shares of our common stock through their your financial intermediary advisor or directly with the Company’s our transfer agent. The We will generally adhere to the following procedures relating to the redemption of Shares are as followsshares of our common stock: ● Certain broker-dealers require that their clients process redemptions through their broker-dealer, which may impact the time necessary to process such redemption request, impose more restrictive deadlines than described under this Program, impact the timing of a Shareholder receiving redemption proceeds and require different paperwork or process than described in this Program. A Shareholder should contact its broker-dealer first if it wants to request the redemption of its Shares. ● • Under this Programshare redemption program, to the extent the Company chooses we choose to redeem Shares shares in any particular calendar quarter, the Company month we will only redeem Shares using a purchase price equal to the Transaction Price shares as of the Redemption Date last calendar day of that month (which, for the avoidance of doubt, is generally determined on or around the twentieth (20th) Business Day following the a “Redemption Date), subject to the Early Redemption Fee (as defined below”). o For each calendar quarterTo have your shares redeemed, a Shareholder may submit a your redemption request and required documentation beginning the opening of business on the first Business Day of the applicable quarter and no later than must be received in good order by 4:00 p.m. (Eastern time) on the second to last Business Day business day of the first month applicable month. Settlements of the quarter (such deadline, the “Redemption Deadline” and such submission period, the “Redemption Window”). o For the avoidance share redemptions will be made within three business days of doubt, a redeeming Shareholder will not be eligible to receive distributions declared on or after the Redemption Date. Additionally, all Shares timely submitted for redemption and not withdrawn as of the Redemption Deadline, shall be excluded as of the Redemption Date from the Company’s NAV and such redeemed Shares will not bear fees or expenses, including but not limited to Management Fees, Performance Participation Allocation and Servicing Fees. ● Redemption requests received and processed by the Company’s our transfer agent will be effected at a redemption price equal to the Transaction PricePrice on the applicable Redemption Date, subject to any Early Redemption Fee (as defined below)Deduction. o For illustrative purposes, for redemptions occurring during Although the calendar quarter ended December 31, 2025, Shareholders may submit redemption requests until October 31, 2025, and accepted redemption requests will have a Redemption Date as of December 31, 2025, with a Transaction Price for shares of our common stock will generally be based on the most recently disclosed monthly NAV per share, the NAV per share of such stock as of the Redemption Date NAV (which should may be determined on or around January 30, 2026)significantly different. Such redeeming Shareholders shall receive distributions declared as of December 31, 2025, if any, but beginning January 1, 2026, shall be excluded from the Company’s NAV, and therefore, will not bear any fees or expenses nor receive any distributions. ● Settlements of redemptions will generally be made in cash approximately thirty-five (35) calendar days after the Redemption Date (e.g., a Shareholder requesting a December 31st redemption would generally be expected to receive a settlement on or around February 4th of the following year). ● • A Shareholder stockholder may withdraw its his or her redemption request by notifying the transfer agent, directly or through the Shareholderstockholder’s financial intermediary, on the Company’s our toll-free, automated telephone line, +▇ (▇▇▇) ▇▇▇-▇▇▇▇. The line is open on each business day between the hours of 9:00 a.m. and 6:00 p.m. (Eastern Timetime). Redemption requests must be cancelled before 4:00 p.m. (Eastern Timetime) on the Redemption Deadline last business day of the applicable calendar quartermonth. ● • If a redemption request is received after 4:00 p.m. (Eastern Timetime) on the Redemption Deadline second to last business day of the applicable calendar quartermonth, the redemption request will not be executed andexecuted, if a Shareholder still wishes to have its Shares redeemedat all, must be resubmitted after the start of on the next quartermonth’s Redemption Date at the Transaction Price applicable to that month (subject to any Early Redemption Deduction), unless such request is withdrawn prior to the redemption. Redemption requests received and processed by the Company’s our transfer agent on a business day, but after the close of business on that day or on a day that is not a business day, will be deemed received on the next business day. All questions as to the form and validity (including time of receipt) of redemption requests and notices of withdrawal will be determined by us, in the Company’s sole discretion, and such determination shall be final and binding. ● • Redemption requests may be made by mail or by contacting the Shareholder’s your financial intermediary, both subject to certain conditions described in the Memorandumset forth herein. If making a redemption request by contacting the Shareholder’s your financial intermediary, the Shareholder’s your financial intermediary may require the Shareholder you to provide certain documentation or information. If making a redemption request by mail to the transfer agent, the Shareholder you must complete and sign a redemption authorization form, which can be found at the end of this Program and form which will be available on the Company’s our website, ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇. Written requests should be sent to the transfer agent at the following address: Regular Mail ISQ Open Infrastructure Company LLC SS&C GIDSDST Systems, Inc. P.O. DST Systems, Inc. PO Box 219079 ▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇Kansas City, ▇▇ ▇▇▇▇▇Missouri 64121-▇▇▇▇ 9079 Kansas City, Missouri 64105 Corporate investors and other non-individual entities must have an appropriate certification on file authorizing redemptions. A signature guarantee may be required. ● • For processed redemptions, Shareholders stockholders may request that redemption proceeds are to be paid by mailed check provided that the amount is less than $100,000 and the check is mailed to an address on file with the transfer agent for at least 30 days. Shareholders should check with their broker-dealer that such payments may • Processed redemptions of more than $100,000 will be made paid only via check ACH or wire transfer. For this reason, as further described herein. ● Shareholders may also receive redemption proceeds via wire transfer, provided that wiring stockholders who own more than $100,000 of our common stock must provide bank instructions for their brokerage account or designated U.S. bank account are providedaccount. Stockholders who own less than $100,000 of our common stock may also receive redemption proceeds via ACH or wire transfer, provided the payment amount is at least $2,500. For all redemptions paid via wire transfer, the funds will be wired to the account on file with the transfer agent or, upon instruction, to another financial institution provided that the Shareholder stockholder has made the necessary funds transfer arrangements. The customer service representative can provide detailed instructions on establishing funding arrangements and designating a your bank or brokerage account on file. Funds will be wired sent only to U.S. financial institutions (ACH network members). ● • A medallion signature guarantee will be required in certain circumstances. The medallion signature process protects Shareholders stockholders by verifying the authenticity of a signature and limiting unauthorized fraudulent transactions. A medallion signature guarantee may be obtained from a domestic bank or trust company, broker-dealer, clearing agency, savings association or other financial institution which participates in a medallion program recognized by the Securities Transfer Association. The three recognized medallion programs are the Securities Transfer Agents Medallion Program, the Stock Exchanges Medallion Program and the New York Stock Exchange, Inc. Medallion Signature Program. Signature guarantees from financial institutions that which are not participating in any of these medallion programs will not be accepted. A notary public cannot provide signature guarantees. We reserve the right to amend, waive or discontinue this policy at any time and establish other criteria for verifying the authenticity of any redemption or transaction request. We may require a medallion signature guarantee if, among other reasons: (1) the amount of the redemption request is over $500,000; (2) the Shareholder wishes you wish to have redemption proceeds transferred by wire to an account other than the designated bank or brokerage account on file for at least 30 days or sent to an address other than the Shareholder’s your address of record for the past 30 days; or (3) the Company’s our transfer agent cannot confirm the Shareholder’s your identity or suspects fraudulent activity. ● • If a Shareholder stockholder has made multiple purchases of any class shares of Sharesour common stock, any redemption request will be processed on a first in/first out basis unless otherwise requested in the redemption request. In the event that any stockholder fails to maintain the minimum balance of $2,000 of shares of our common stock, we may redeem all of the shares held by that stockholder at the redemption price in effect on the date we determine that the stockholder has failed to meet the minimum balance, less any Early Redemption Deduction. Minimum account redemptions will apply even in the event that the failure to meet the minimum balance is caused solely by a decline in our NAV. Minimum account redemptions are subject to Early Redemption Deduction.

Share Redemption Program. Shareholders We expect that there will be no regular secondary trading market for shares of our common stock. While you should view your investment as long term with limited liquidity, we have adopted this share redemption program, whereby stockholders may receive the benefit of limited liquidity by presenting for redemption to us all or any portion of those shares in accordance with the procedures and subject to certain conditions and limitations described below. This share redemption program applies to all shares of our common stock All references herein to classes of shares of our common stock do not include the OP Units issued by the Operating Partnership, unless the context otherwise requires. ​ Due to the illiquid nature of investments in real property, we may not have sufficient liquid resources to fund redemption requests. In addition, we have established limitations on the amount of funds we may use for redemptions and the amount of shares that may be redeemed. See “—Redemption Limitations” below. Further, our board of directors has the right to modify or suspend this share redemption program if it deems such action to be in the best interest of our stockholders. A stockholder’s request for redemption in accordance with any of the special treatment described below in the event of the death or qualifying disability of a stockholder must be submitted within 18 months of the death of the stockholder or the initial determination of the stockholder’s disability (which we define as such term is defined in Section 72(m)(7) of the Code), as further described below. There is no fee in connection with a redemption of shares of our common stock. You may request that we redeem Shares shares of our common stock through their your financial intermediary advisor or directly with the Company’s our transfer agent. The We will generally adhere to the following procedures relating to the redemption of Shares are as followsshares of our common stock: ● Certain broker-dealers require that their clients process redemptions through their broker-dealer, which may impact the time necessary to process such redemption request, impose more restrictive deadlines than described under this Program, impact the timing of a Shareholder receiving redemption proceeds and require different paperwork or process than described in this Program. A Shareholder should contact its broker-dealer first if it wants to request the redemption of its Shares. ● Under this Programshare redemption program, to the extent the Company chooses we choose to redeem Shares shares in any particular calendar quarter, the Company month we will only redeem Shares using a purchase price equal to the Transaction Price shares as of the Redemption Date last calendar day of that month (which, for the avoidance of doubt, is generally determined on or around the twentieth (20th) Business Day following the a “Redemption Date), subject to the Early Redemption Fee (as defined below”). o For each calendar quarterTo have your shares redeemed, a Shareholder may submit a your redemption request and required documentation beginning the opening of business on the first Business Day of the applicable quarter and no later than must be received in good order by 4:00 p.m. (Eastern time) on the second to last Business Day business day of the first month applicable month. Settlements of the quarter (such deadline, the “Redemption Deadline” and such submission period, the “Redemption Window”). o For the avoidance share redemptions will be made within three business days of doubt, a redeeming Shareholder will not be eligible to receive distributions declared on or after the Redemption Date. Additionally, all Shares timely submitted for redemption and not withdrawn as of the Redemption Deadline, shall be excluded as of the Redemption Date from the Company’s NAV and such redeemed Shares will not bear fees or expenses, including but not limited to Management Fees, Performance Participation Allocation and Servicing Fees. ● Redemption requests received and processed by the Company’s our transfer agent will be effected at a redemption price equal to the Transaction PricePrice on the applicable Redemption Date, subject to any Early Redemption Fee (as defined below)Deduction. o For illustrative purposes, for redemptions occurring during Although the calendar quarter ended December 31, 2025, Shareholders may submit redemption requests until October 31, 2025, and accepted redemption requests will have a Redemption Date as of December 31, 2025, with a Transaction Price for shares of our common stock will generally be based on the most recently disclosed monthly NAV per share, the NAV per share of such stock as of the Redemption Date NAV (which should may be determined on or around January 30, 2026)significantly different. Such redeeming Shareholders shall receive distributions declared as of December 31, 2025, if any, but beginning January 1, 2026, shall be excluded from If the Company’s NAV, and therefore, will Transaction Price for the applicable month is not bear any fees or expenses nor receive any distributions. ● Settlements of redemptions will generally be made in cash approximately thirty-five (35) calendar days after available by the Redemption Date (e.g., a Shareholder requesting a December 31st redemption would generally be expected tenth business day prior to receive a settlement on or around February 4th the last business day of the month (or is changed after such date), then no redemption requests will be accepted for such month and stockholders who wish to have their shares redeemed the following year)month must resubmit their redemption requests. ​ ● A Shareholder stockholder may withdraw its his or her redemption request by notifying the transfer agent, directly or through the Shareholderstockholder’s financial intermediary, on the Company’s our toll-free, automated telephone line, +▇ (▇▇▇) ▇▇▇-▇▇▇▇. The line is open on each business day between the hours of 9:00 a.m. and 6:00 p.m. (Eastern Timetime). Redemption requests must be cancelled before 4:00 p.m. (Eastern Timetime) on the Redemption Deadline last business day of the applicable calendar quartermonth. ​ ● If a redemption request is received after 4:00 p.m. (Eastern Timetime) on the Redemption Deadline second to last business day of the applicable calendar quartermonth, the redemption request purchase order will not be executed andexecuted, if a Shareholder still wishes to have its Shares redeemedat all, must be resubmitted after the start of on the next quartermonth’s Redemption Date at the Transaction Price applicable to that month (subject to any Early ​ Redemption Deduction), unless such request is withdrawn prior to the redemption. Redemption requests received and processed by the Company’s our transfer agent on a business day, but after the close of business on that day or on a day that is not a business day, will be deemed received on the next business day. All questions as to the form and validity (including time of receipt) of redemption requests and notices of withdrawal will be determined by us, in the Company’s sole discretion, and such determination shall be final and binding. ​ ● Redemption requests may be made by mail or by contacting the Shareholder’s your financial intermediary, both subject to certain all of the conditions described set forth in the Memorandumthis share redemption program. If making a redemption request by contacting the Shareholder’s your financial intermediary, the Shareholder’s your financial intermediary may require the Shareholder you to provide certain documentation or information. If making a redemption request by mail to the transfer agent, the Shareholder you must complete and sign a redemption authorization form, which can be found at the end of this Program and which will be is available on the Company’s our website, ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇. Written requests should be sent to the transfer agent at the following address: Regular Mail ISQ Open Infrastructure Company LLC SS&C GIDSDST Systems, Inc. P.O. DST Systems, Inc. PO Box 219079 ▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇ Kansas City, Missouri 64121-9079 Kansas City, Missouri 64105Toll Free Number: (▇▇▇▇, ▇▇ ▇▇) ▇▇▇-▇▇▇▇ Corporate investors and other non-individual entities must have an appropriate certification on file authorizing redemptions. A signature guarantee may be required. ● For processed redemptions, Shareholders stockholders may request that redemption proceeds are to be paid by mailed check provided that the amount is less than $100,000 and the check is mailed to an address on file with the transfer agent for at least 30 days. Shareholders should check with their broker-dealer that such payments may ​ ● Processed redemptions of more than $100,000 will be made paid only via check ACH or wire transfer. For this reason, as further described herein. ● Shareholders may also receive redemption proceeds via wire transfer, provided that wiring stockholders who own more than $100,000 of our common stock must provide bank instructions for their brokerage account or designated U.S. bank account are providedaccount. Stockholders who own less than $100,000 of our common stock may also receive redemption proceeds via ACH or wire transfer, provided the payment amount is at least $2,500. For all redemptions paid via wire transfer, the funds will be wired to the account on file with the transfer agent or, upon instruction, to another financial institution provided that the Shareholder stockholder has made the necessary funds transfer arrangements. The customer service representative can provide detailed instructions on establishing funding arrangements and designating a your bank or brokerage account on file. Funds will be wired sent only to U.S. financial institutions (ACH network members). ​ ● A medallion signature guarantee will may be required in certain circumstances. The medallion signature process protects Shareholders stockholders by verifying the authenticity of a signature and limiting unauthorized fraudulent transactions. A medallion signature guarantee may be obtained from a domestic bank or trust company, broker-broker dealer, clearing agency, savings association or other financial institution which participates in a medallion program recognized by the Securities Transfer Association. The three recognized medallion programs are the Securities Transfer Agents Medallion Program, the Stock Exchanges Medallion Program and the New York Stock Exchange, Inc. Medallion Signature Program. Signature guarantees from financial institutions that which are not participating in any of these medallion programs will not be accepted. A notary public cannot provide signature guarantees. We reserve the right to amend, waive or discontinue this policy at any time and establish other criteria for verifying the authenticity of any redemption or transaction request. We may require a medallion signature guarantee if, among other reasons: (1) the amount of the redemption request is over $500,000; (2) the Shareholder wishes you wish to have redemption proceeds transferred by wire to an account other than the designated bank or brokerage account ​ on file for at least 30 days or sent to an address other than the Shareholder’s your address of record for the past 30 days; or (3) the Company’s our transfer agent cannot confirm the Shareholder’s your identity or suspects fraudulent activity. ● If a Shareholder has made multiple purchases of any class of Shares, any redemption request will be processed on a first in/first out basis unless otherwise requested in the redemption request.

Share Redemption Program. Shareholders We expect that there will be no regular secondary trading market for shares of our common stock. While you should view your investment as long term with limited liquidity, we have adopted this share redemption program, whereby stockholders may receive the benefit of limited liquidity by presenting for redemption to us all or any portion of those shares in accordance with the procedures and subject to certain conditions and limitations described below. This share redemption program applies to all shares of our common stock. All references herein to classes of shares of our common stock do not include the OP Units issued by the Operating Partnership, unless the context otherwise requires. Due to the illiquid nature of investments in real property, we may not have sufficient liquid resources to fund redemption requests. In addition, we have established limitations on the amount of funds we may use for redemptions and the amount of shares that may be redeemed. See “—Redemption Limitations” below. A stockholder’s request for redemption in accordance with any of the special treatment described below in the event of the death or qualifying disability of a stockholder must be submitted within 18 months of the death of the stockholder or the initial determination of the stockholder’s disability (which we define as such term is defined in Section 72(m)(7) of the Code), as further described below. There is no fee in connection with a redemption of shares of our common stock. You may request that we redeem Shares shares of our common stock through their your financial intermediary advisor or directly with the Company’s our transfer agent. The We will generally adhere to the following procedures relating to the redemption of Shares are as followsshares of our common stock: ● Certain broker-dealers require that their clients process redemptions through their broker-dealer, which may impact the time necessary to process such redemption request, impose more restrictive deadlines than described under this Program, impact the timing of a Shareholder receiving redemption proceeds and require different paperwork or process than described in this Program. A Shareholder should contact its broker-dealer first if it wants to request the redemption of its Shares. ● Under this Programshare redemption program, to the extent the Company chooses we choose to redeem Shares shares in any particular calendar quarter, the Company month we will only redeem Shares using a purchase price equal to the Transaction Price shares as of the Redemption Date last calendar day of that month (which, for the avoidance of doubt, is generally determined on or around the twentieth (20th) Business Day following the a “Redemption Date), subject to the Early Redemption Fee (as defined below”). o For each calendar quarterTo have your shares redeemed, a Shareholder may submit a your redemption request and required documentation beginning the opening of business on the first Business Day of the applicable quarter and no later than must be received in good order by 4:00 p.m. (Eastern time) on the second to last Business Day business day of the first month applicable month. Settlements of the quarter (such deadline, the “Redemption Deadline” and such submission period, the “Redemption Window”). o For the avoidance share redemptions will be made within three business days of doubt, a redeeming Shareholder will not be eligible to receive distributions declared on or after the Redemption Date. Additionally, all Shares timely submitted for redemption and not withdrawn as of the Redemption Deadline, shall be excluded as of the Redemption Date from the Company’s NAV and such redeemed Shares will not bear fees or expenses, including but not limited to Management Fees, Performance Participation Allocation and Servicing Fees. ● Redemption requests received and processed by the Company’s our transfer agent will be effected at a redemption price equal to the Transaction PricePrice on the applicable Redemption Date, subject to any Early Redemption Fee (as defined below)Deduction. o For illustrative purposes, for redemptions occurring during Although the calendar quarter ended December 31, 2025, Shareholders may submit redemption requests until October 31, 2025, and accepted redemption requests will have a Redemption Date as of December 31, 2025, with a Transaction Price for shares of our common stock will generally be based on the most recently disclosed monthly NAV per share, the NAV per share of such stock as of the Redemption Date NAV (which should may be determined on or around January 30, 2026)significantly different. Such redeeming Shareholders shall receive distributions declared as of December 31, 2025, if any, but beginning January 1, 2026, shall be excluded from If the Company’s NAV, and therefore, will Transaction Price for the applicable month is not bear any fees or expenses nor receive any distributions. ● Settlements of redemptions will generally be made in cash approximately thirty-five (35) calendar days after available by the Redemption Date (e.g., a Shareholder requesting a December 31st redemption would generally be expected tenth business day prior to receive a settlement on or around February 4th the last business day of the month (or is changed after such date), then no redemption requests will be accepted for such month and stockholders who wish to have their shares redeemed the following year)month must resubmit their redemption requests. ● A Shareholder stockholder may withdraw its his or her redemption request by notifying the transfer agent, directly or through the Shareholderstockholder’s financial intermediary, on the Company’s our toll-free, automated telephone line, +▇ (▇▇▇) ▇▇▇-▇▇▇▇. The line is open on each business day between the hours of 9:00 a.m. and 6:00 p.m. (Eastern Timetime). Redemption requests must be cancelled before 4:00 p.m. (Eastern Timetime) on the Redemption Deadline last business day of the applicable calendar quartermonth. ● If a redemption request is received after 4:00 p.m. (Eastern Timetime) on the Redemption Deadline second to last business day of the applicable calendar quartermonth, the redemption request purchase order will not be executed andexecuted, if a Shareholder still wishes to have its Shares redeemedat all, must be resubmitted after the start of on the next quartermonth’s Redemption Date at the Transaction Price applicable to that month (subject to any Early Redemption Deduction), unless such request is withdrawn prior to the redemption. Redemption requests received and processed by the Company’s our transfer agent on a business day, but after ​ the close of business on that day or on a day that is not a business day, will be deemed received on the next business day. All questions as to the form and validity (including time of receipt) of redemption requests and notices of withdrawal will be determined by us, in the Company’s sole discretion, and such determination shall be final and binding. ● Redemption requests may be made by mail or by contacting the Shareholder’s your financial intermediary, both subject to certain all of the conditions described set forth in the Memorandumthis share redemption program. If making a redemption request by contacting the Shareholder’s your financial intermediary, the Shareholder’s your financial intermediary may require the Shareholder you to provide certain documentation or information. If making a redemption request by mail to the transfer agent, the Shareholder you must complete and sign a redemption authorization form, which can be found at the end of this Program and which will be is available on the Company’s our website, ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇. Written requests should be sent to the transfer agent at the following address: Regular Mail ISQ Open Infrastructure Company LLC SS&C GIDSDST Systems, Inc. P.O. DST Systems, Inc. PO Box 219079 ▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇Kansas City, ▇▇ ▇▇▇▇▇Missouri 64121-▇▇▇▇ 9079 Kansas City, Missouri 64105 Corporate investors and other non-individual entities must have an appropriate certification on file authorizing redemptions. A signature guarantee may be required. ● For processed redemptions, Shareholders stockholders may request that redemption proceeds are to be paid by mailed check provided that the amount is less than $100,000 and the check is mailed to an address on file with the transfer agent for at least 30 days. Shareholders should check with their broker-dealer that such payments may ● Processed redemptions of more than $100,000 will be made paid only via check ACH or wire transfer. For this reason, as further described herein. ● Shareholders may also receive redemption proceeds via wire transfer, provided that wiring stockholders who own more than $100,000 of our common stock must provide bank instructions for their brokerage account or designated U.S. bank account are providedaccount. Stockholders who own less than $100,000 of our common stock may also receive redemption proceeds via ACH or wire transfer, provided the payment amount is at least $2,500. For all redemptions paid via wire transfer, the funds will be wired to the account on file with the transfer agent or, upon instruction, to another financial institution provided that the Shareholder stockholder has made the necessary funds transfer arrangements. The customer service representative can provide detailed instructions on establishing funding arrangements and designating a your bank or brokerage account on file. Funds will be wired sent only to U.S. financial institutions (ACH network members). ● A medallion signature guarantee will may be required in certain circumstances. The medallion signature process protects Shareholders stockholders by verifying the authenticity of a signature and limiting unauthorized fraudulent transactions. A medallion signature guarantee may be obtained from a domestic bank or trust company, broker-broker dealer, clearing agency, savings association or other financial institution which participates in a medallion program recognized by the Securities Transfer Association. The three recognized medallion programs are the Securities Transfer Agents Medallion Program, the Stock Exchanges Medallion Program and the New York Stock Exchange, Inc. Medallion Signature Program. Signature guarantees from financial institutions that which are not participating in any of these medallion programs will not be accepted. A notary public cannot provide signature guarantees. We reserve the right to amend, waive or discontinue this policy at any time and establish other criteria for verifying the authenticity of any redemption or transaction request. We may require a medallion signature guarantee if, among other reasons: (1) the amount of the redemption request is over $500,000; (2) the Shareholder wishes you wish to have redemption proceeds transferred by wire to an account other than the designated bank or brokerage account on file for at least 30 days or sent to an address other than the Shareholder’s your address of record for the past 30 days; or (3) the Company’s our transfer agent cannot confirm the Shareholder’s your identity or suspects fraudulent activity. ● If a Shareholder stockholder has made multiple purchases of any class shares of Sharesour common stock, any redemption request will be processed on a first in/first out basis unless otherwise requested in the redemption request. ● If we receive a request from a stockholder for redemption of all of the stockholder’s shares of our common stock and the stockholder is a participant in our distribution reinvestment plan, we will terminate the stockholder’s participation in the distribution reinvestment plan.

Share Redemption Program. Shareholders may request that we redeem Shares through their financial intermediary or directly with the Company’s transfer agent. The procedures relating to the redemption of Shares are as follows: ● Certain broker-dealers require that their clients process redemptions through their broker-dealer, which may impact the time necessary to process such redemption request, impose more restrictive deadlines than described under this Program, impact the timing of a Shareholder receiving redemption proceeds and require different paperwork or process than described in this Program. A Shareholder should contact its broker-dealer first if it wants to request the redemption of its Shares. ● Under this Program, to the extent the Company chooses to redeem Shares in any particular calendar quarter, the Company will redeem Shares using a purchase price equal to the Transaction Price as of the Redemption Date (which, for the avoidance of doubt, is generally determined on or around the twentieth (20th) Business Day following the Redemption Date), subject to the Early Redemption Fee (as defined below). o For each calendar quarter, a Shareholder may submit a redemption request and required documentation beginning the opening of business on the first Business Day of the applicable quarter and no later than 4:00 p.m. (Eastern time) on the last Business Day of the first month of the quarter (such deadline, the “Redemption Deadline” and such submission period, the “Redemption Window”). o For the avoidance of doubt, a redeeming Shareholder will not be eligible to receive distributions declared on or after the Redemption Date. Additionally, all Shares timely submitted for redemption and not withdrawn as of the Redemption Deadline, shall be excluded as of the Redemption Date from the Company’s NAV and such redeemed Shares will not bear fees or expenses, including but not limited to Management Fees, Performance Participation Allocation and Servicing Fees. ● Redemption requests received and processed by the Company’s transfer agent will be effected at the Transaction Price, subject to any Early Redemption Fee (as defined below). o For illustrative purposes, for redemptions occurring during the calendar quarter ended December 31, 2025, Shareholders may submit redemption requests until October 31, 2025, and accepted redemption requests will have a Redemption Date as of December 31, 2025, with a Transaction Price of the Redemption Date NAV (which should be determined on or around January 30, 2026). Such redeeming Shareholders shall receive distributions declared as of December 31, 2025, if any, but beginning January 1, 2026, shall be excluded from the Company’s NAV, and therefore, will not bear any fees or expenses nor receive any distributions. ● Settlements of redemptions will generally be made in cash approximately thirty-five (35) calendar days after the Redemption Date (e.g., a Shareholder requesting a December 31st redemption would generally be expected to receive a settlement on or around February 4th of the following year). ● A Shareholder may withdraw its redemption request by notifying the transfer agent, directly or through the Shareholder’s financial intermediary, on the Company’s toll-free, automated telephone line, +▇ (▇▇▇) ▇▇▇-▇▇▇▇. The line is open on each business day between the hours of 9:00 a.m. and 6:00 p.m. (Eastern Time). Redemption requests must be cancelled before 4:00 p.m. (Eastern Time) on the Redemption Deadline of the applicable calendar quarter. ● If a redemption request is received after 4:00 p.m. (Eastern Time) on the Redemption Deadline of the applicable calendar quarter, the redemption request will not be executed and, if a Shareholder still wishes to have its Shares redeemed, must be resubmitted after the start of the next quarter. Redemption requests received and processed by the Company’s transfer agent on a business day, but after the close of business on that day or on a day that is not a business day, will be deemed received on the next business day. All questions as to the form and validity (including time of receipt) of redemption requests and notices of withdrawal will be determined by us, in the Company’s sole discretion, and such determination shall be final and binding. ● Redemption requests may be made by mail or by contacting the Shareholder’s financial intermediary, both subject to certain conditions described in the Memorandum. If making a redemption request by contacting the Shareholder’s financial intermediary, the Shareholder’s financial intermediary may require the Shareholder to provide certain documentation or information. If making a redemption request by mail to the transfer agent, the Shareholder must complete and sign a redemption authorization form, which can be found at the end of this Program and which will be available on the Company’s website, ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇. Written requests should be sent to the transfer agent at the following address: Regular Mail ISQ Open Infrastructure Company LLC SS&C GIDS, Inc. P.O. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Corporate investors and other non-individual entities must have an appropriate certification on file authorizing redemptions. A signature guarantee may be required. ● For processed redemptions, Shareholders may request that redemption proceeds are to be paid by mailed check provided that the check is mailed to an address on file with the transfer agent for at least 30 days. Shareholders should check with their broker-dealer that such payments may be made via check or wire transfer, as further described herein. ● Shareholders may also receive redemption proceeds via wire transfer, provided that wiring instructions for their brokerage account or designated U.S. bank account are provided. For all redemptions paid via wire transfer, the funds will be wired to the account on file with the transfer agent or, upon instruction, to another financial institution provided that the Shareholder has made the necessary funds transfer arrangements. The customer service representative can provide detailed instructions on establishing funding arrangements and designating a bank or brokerage account on file. Funds will be wired only to U.S. financial institutions (ACH network members). ● A medallion signature guarantee will be required in certain circumstances. The medallion signature process protects Shareholders by verifying the authenticity of a signature and limiting unauthorized fraudulent transactions. A medallion signature guarantee may be obtained from a domestic bank or trust company, broker-dealer, clearing agency, savings association or other financial institution which participates in a medallion program recognized by the Securities Transfer Association. The three recognized medallion programs are the Securities Transfer Agents Medallion Program, the Stock Exchanges Medallion Program and the New York Stock Exchange, Inc. Medallion Signature Program. Signature guarantees from financial institutions that are not participating in any of these medallion programs will not be accepted. A notary public cannot provide signature guarantees. We reserve the right to amend, waive or discontinue this policy at any time and establish other criteria for verifying the authenticity of any redemption or transaction request. We may require a medallion signature guarantee if, among other reasons: (1) the amount of the redemption request is over $500,000; (2) the Shareholder wishes to have redemption proceeds transferred by wire to an account other than the designated bank or brokerage account on file for at least 30 days or sent to an address other than the Shareholder’s address of record for the past 30 days; or (3) the Company’s transfer agent cannot confirm the Shareholder’s identity or suspects fraudulent activity. ● If a Shareholder has made multiple purchases of any class of Shares, any redemption request will be processed on a first in/first out basis unless otherwise requested in the redemption request.