NOTICE OF ADOPTION AND SUMMARY OF RESOLUTION The Kentucky Bond Development Corporation (the "Issuer"), at a meeting of its Board of Directors held on April 14, 2026, adopted the following resolution: A RESOLUTION OF THE KENTUCKY BOND DEVELOPMENT CORPORATION, AUTHORIZING THE ISSUANCE OF UP TO $400,000,000 PRINCIPAL AMOUNT OF KENTUCKY BOND DEVELOPMENT CORPORATION STUDENT HOUSING REVENUE BONDS, CITY OF PLUM SPRINGS (COLLEGIATE HOUSING FOUNDATION-BOWLING GREEN, L.L.C. - WESTERN KENTUCKY UNIVERSITY PROJECT) IN ONE OR MORE SERIES OR SUBSERIES, THE PROCEEDS OF WHICH SHALL BE LOANED TO COLLEGIATE HOUSING FOUNDATION-BOWLING GREEN, L.L.C. TO (A)(1) ACQUIRE SUBSTANTIALLY ALL OF THE EXISTING HOUSING ASSETS (COLLECTIVELY, THE "LEGACY HOUSING FACILITIES") OF WESTERN KENTUCKY UNIVERSITY (THE "UNIVERSITY"); (2) RENOVATE CERTAIN OF THE LEGACY HOUSING FACILITIES; (3) DEMOLISH CERTAIN OF THE LEGACY HOUSING FACILITIES AND A DINING FACILITY; AND (4) DEVELOP, ACQUIRE, CONSTRUCT, INSTALL, AND EQUIP A NEW APPROXIMATELY 1,000-BED STUDENT HOUSING AND DINING FACILITY (THE "NEW PROJECT"); (B) FUND INTEREST ON THE BONDS DURING THE PERIOD OF CONSTRUCTION OF THE NEW PROJECT; (C) FUND A DEBT SERVICE RESERVE FOR THE BONDS; (D) FINANCE CERTAIN STARTUP COSTS AND RELATED WORKING CAPITAL FOR THE NEW PROJECT; (E) PAY THE COSTS OF CREDIT ENHANCEMENT FOR THE BONDS; AND (F) PAY THE COSTS OF ISSUING THE BONDS; PROVIDING FOR THE PLEDGE OF REVENUES FOR THE PAYMENT OF SUCH BONDS; AUTHORIZING ONE OR MORE LOAN AGREEMENTS APPROPRIATE FOR THE PROTECTION AND DISPOSITION OF SUCH REVENUES AND TO FURTHER SECURE SUCH BONDS; AUTHORIZING ONE OR MORE TRUST INDENTURES, BOND PURCHASE AGREEMENTS, TAX REGULATORY AGREEMENTS, PRELIMINARY OFFICIAL STATEMENTS, AND FINAL OFFICIAL STATEMENTS; AND AUTHORIZING OTHER ACTIONS IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS. The Resolution authorized the issuance by the Issuer of up to $400,000,000 of the Issuer's Student Housing Revenue Bonds, City of Plum Springs (Collegiate Housing Foundation-Bowling Green, L.L.C. – Western Kentucky University Project) (the "Bonds") to provide funds to make a loan to Collegiate Housing Foundation-Bowling Green, L.L.C., a single member limited liability company organized and existing under the laws of the State of Alabama (the "Borrower"), the sole member of which is Collegiate Housing Foundation, Inc., an Alabama nonprofit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the "Code"), the proceeds of which will be used by the Borrower to (a)(1) acquire substantially all of the existing housing assets (collectively, the "Legacy Housing Facilities") of the University; (2) renovate certain of the Legacy Housing Facilities; (3) demolish certain of the Legacy Housing Facilities and a dining facility; and (4) develop, acquire, construct, install, and equip a new approximately 1,000-bed student housing and dining facility (the "New Project" and, together with items (1) through (3), the "Project"); (b) fund interest on the Bonds during the period of construction of the New Project; (c) fund a debt service reserve for the Bonds; (d) finance certain startup costs and related working capital for the New Project; (e) pay the costs of credit enhancement for the Bonds; and (f) pay the costs of issuing the Bonds. The Bonds are being issued under Chapter 103 of the Kentucky Revised Statutes, and is to be retired from the loan payments to be made under one or more Loan Agreements (collectively, the "Loan Agreements") by and between the Issuer and the Borrower. The Bonds are not a general obligation of the Issuer or the City of Plum Springs, Kentucky (the "City"), but are special and limited obligations of the Issuer payable solely from the revenues and funds pledged therefor under the Loan Agreements securing the Bonds. The Bonds will not be payable from other revenues or assets of the Issuer or the City and neither the faith and credit nor the taxing power of the Commonwealth of Kentucky or any of its agencies or political subdivisions is pledged to the payment of the Bonds. Interest on the Bonds will be determined as set forth in one or more Trust Indentures by and among the Issuer and Wilmington Trust, National Association, as Trustee. The Resolution also authorizes the execution on behalf of the Issuer of additional various financing documents involved in the transaction, including one or more Tax Regulatory Agreements and related documents. A copy of the Resolution and the forms of the financing documents described above are on file with the Secretary of the Issuer. KENTUCKY BOND DEVELOPMENT CORPORATION By: /s/ Robyn Miller Secretary The undersigned Attorney-at-Law, licensed to practice in Kentucky, hereby certifies that the foregoing title summary of a Resolution of the Kentucky Bond Development Corporation was prepared by the undersigned and constitutes a general summary of essential provisions of the Resolution, reference to the full text of which ordinance is hereby made for a complete statement of its provisions and terms. By: /s/ Mark S. Franklin Dinsmore & Shohl LLP 101 South Fifth Street, Suite 2500 Louisville, Kentucky 40202 IPL0331351 Apr 16 2026