NOTICE OF SALE OF BONDS NOT EXCEEDING $215,000,000 LOUISIANA PUBLIC FACILITIES AUTHORITY LEASE REVENUE BONDS (SOUTH QUAD L3C - LOUISIANA STATE UNIVERSITY SOUTH QUAD (PHASE IV) PROJECT) SERIES 2025 NOTICE IS HEREBY GIVEN that not exceeding $215,000,000 principal amount of Louisiana Public Facilities Authority Lease Revenue Bonds (South Quad L3C - Louisiana State University South Quad (Phase IV) Project) Series 2025 (the "Bonds"), will be sold pursuant to a negotiated private sale to RBC Capital Markets, LLC, by the State Bond Commission (the "Commission") on behalf and at the request of the Louisiana Public Facilities Authority (the "Authority"), at 900 North Third Street, State Capitol Building, Third Floor, Baton Rouge, Louisiana 70802, at ten o'clock (10:00) a.m., Louisiana time, on Thursday, August 21, 2025, or such other date, time and/or place as may be determined by the Chairman or by the Director-Secretary of the Commission and by the Chairman of the Authority. The Bonds may be sold pursuant to the terms of a bond purchase agreement, a contract of purchase, a private placement agreement, investment agreement and/or investment letter, financing agreement or loan agreement with the purchaser at the prices to be determined most advantageous by the Commission and the Authority. Other proposals are hereby invited and upon receipt will be considered, and the proposal most advantageous to the Commission and the Authority will be accepted at the time of the sale. The Commission and the Authority reserve the right to reject any and all proposals and to waive any irregularities in any proposal. The issuance and sale of the Bonds by the Authority have been duly authorized pursuant to the terms of a resolution adopted by the Authority on June 3, 2025, as supplemented and amended on August 13, 2025, under the provisions of the Louisiana Public Trust Act (La. R.S. 9:2341-2347, as amended) (the "Act"). The Bonds will be issued in accordance with the provisions of a Trust Indenture (the "Indenture") to be entered into between the Authority and Hancock Whitney Bank, Baton Rouge, Louisiana, as trustee thereunder (the "Trustee"), for the purpose of financing: (i) the planning, design, acquisition, development, construction, furnishing and equipping of student housing facilities consisting of two buildings with approximately 1,266 total beds, together with all buildings, improvements, fixtures, furnishings, equipment and associated site infrastructure and amenities necessary for the operation thereof (the "Student Housing Facilities"); (ii) the planning, design, acquisition, development and construction of certain parking and transportation facilities and other facilities, infrastructure, or construction activities, together with all improvements, fixtures, furnishings, equipment and associated site infrastructure and amenities necessary for the operation thereof, including, without limitation, a Park & Geaux mobility hub (the "Infrastructure Facilities," and together with the Student Housing Facilities, the "Facilities") to be located on land at Louisiana State University and Agricultural and Mechanical College ("LSU"), under the management and supervision of the Board of Supervisors of Louisiana State University and Agricultural and Mechanical College (the "Board"), and leased by the Board to South Quad L3C (the "Land", and together with the Facilities, the "Property"); (iii) the planning, design and development costs associated with future phases of the Board's ongoing plan for student housing and related student support facilities; (iv) one or more reserve funds, if deemed necessary to market the Bonds; (v) capitalized interest; and (vi) costs of issuance of the Bonds (collectively, the "Project"). The proceeds of the Bonds will be loaned by the Authority to South Quad L3C ("South Quad") pursuant to the terms of a Loan Agreement (the "Loan Agreement"), by and between the Authority and South Quad. The Facilities will be developed and constructed by South Quad pursuant to a South Quad (Phase IV) Development Agreement with RISE Tigers, LLC and leased by South Quad to the Board pursuant to a South Quad (Phase IV) Facilities Lease Agreement (the "Facilities Lease"). The Bonds will be dated, mature on such dates not later than 40 years from the date thereof and bear interest at fixed rates not exceeding 6%, and will be issued as tax-exempt bonds, all as provided in and subject to the terms and conditions of the Indenture. The Bonds will be subject to redemption prior to maturity as set forth in the Indenture. The Bonds are issued under and equally secured both as to principal and interest by the Indenture, which Indenture provides a complete description of the pledged property and revenues constituting the Trust Estate (as defined in the Indenture), the nature and extent of the security, a statement of the terms and conditions on which the Bonds are issued and secured, the rights, duties and obligations of the Authority, the rights, duties and immunities of the Trustee and the rights of the registered owners of the Bonds. The Bonds are limited and special obligations of the Authority and are payable solely out of the Trust Estate pledged therefor, including without limitation, the income, revenues and receipts derived by the Authority from payments of South Quad under the Loan Agreement and from certain other moneys pledged under the Indenture. The Loan Agreement provides that South Quad is obligated to make payments in an aggregate amount sufficient, with any other funds available therefor, for the payment in full of the principal, premium, if any, and interest-of all Bonds issued and outstanding under the Indenture, to the date of payment thereof, and certain costs, expenses and charges of the Authority and the Trustee. South Quad will enter into the Facilities Lease with the Board, pursuant to which the Board has agreed to make rental payments to South Quad in amounts sufficient to pay the debt service on the Bonds. The payments by the Board under the Facilities Lease will be payable solely from Auxiliary Revenues of the University. The Bonds will be further secured by a multiple indebtedness mortgage, leasehold mortgage, pledge of leases and rents and security agreement granted by South Quad on the Facilities. If the Authority and South Quad find that substantial benefits will accrue from credit enhancement for the Bonds, the Bonds of any series may be entitled to the benefits of an insurance policy issued by a municipal bond insurer rated in one of the top two rating categories of a nationally recognized rating service. The Bonds do not constitute or create an obligation, general or special, debt, liability or moral obligation of the State or any political subdivision thereof or personal obligations of the Authority, but are limited and special obligations of the Authority. Neither the faith and credit nor the taxing power of the State or of any political subdivision thereof is pledged to the payment of the principal of or the interest on the Bonds. This Notice of Sale of Bonds is being published in accordance with the requirements of the Act. For a period of thirty (30) days from the date of publication of this Notice of Sale of Bonds, any person in interest may contest the legality of this Notice of Sale, the resolution authorizing the issuance of the Bonds, and provision of the Bonds to be issued pursuant thereto, the legality of the Bonds, the provisions made for the security and payment of the Bonds and the validity of all other provisions and proceedings relating to the authorization and issuance of the Bonds. After said thirty days, no person may contest the regularity, formality, legality or effectiveness of this Notice of Sale of Bonds, said resolution, any provisions of the Bonds to be issued pursuant to said resolution, the provisions for the security and payment of the Bonds and the validity of all other provisions and proceedings relating to their authorization and issuance, for any cause whatsoever. If no suit, action or proceedings are begun contesting the validity of the Bonds within the thirty days herein prescribed, the authority to issue the Bonds and to provide for the payment thereof, the legality thereof and of all of the provisions of this Notice of Sale of Bonds, said resolution or other proceedings authorizing the issuance of the Bonds shall be conclusively presumed, and no court shall have authority to inquire into such matters. Persons desiring to submit proposals are requested to contact the State Bond Commission, 900 North Third Street, State Capitol Building, Third Floor, Baton Rouge, Louisiana 70802, Attention: Ms. Lela M. Folse, Director. Further information concerning the Bonds and copies of the Indenture, Loan Agreement and other documents pertaining to the creation of the Authority and supporting the issuance of the Bonds can be obtained from Kean Miller LLP, 400 Convention Street, Suite 700, Baton Rouge, Louisiana 70802; or the Louisiana Public Facilities Authority, 2237 South Acadian Thruway, Suite 650, Baton Rouge, Louisiana 70808. LOUISIANA PUBLIC FACILITIES AUTHORITY Dated: August 27, 2025 August 27, 2025