LHTV Lightstone Value Plus REIT I Inc (GM)

Amendment to the Charter

On December 21, 2022, the Second Articles of Amendment and Restatement in the form attached as Exhibit A to the definitive proxy statement for Lightstone Value Plus REIT I, Inc.’s (the “Company”) 2022 annual meeting of stockholders, held on December 8, 2022 (the “Proxy Statement”), and submitted for consideration as Proposal No. 2 in the Proxy Statement were filed and accepted for record by the State Department of Assessment and Taxation of the State of Maryland, and thereby became effective as part of the Company’s charter.

The proposal to amend and restate the Company’s charter is described in detail in the Proxy Statement and is incorporated in this Item 5.03 by reference to the Proxy Statement, a copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K. The principal changes to the Company’s charter included (a) elimination of certain procedural provisions related to roll-up transactions, (b) providing indemnification and exculpation of officers and directors to the maximum extent permitted by Maryland law, (c) removal of provision requiring a simple majority for a quorum, (d) conforming the stockholder right obtain a stockholder list to Maryland law (e) revision of the access to stockholder list, (f) elimination of a fiduciary duty of directors provision in favor of the Maryland law required fiduciary duty of directors, and (g) removal of suitability and minimum investment requirements for purchasers of the Company’s securities in third party transactions. The Second Articles of Amendment have been filed as Exhibit 3.1 to this Current Report on Form 8-K and are incorporated into this Report by reference..