Recent news items primarily cover commodity markets and general market conditions, with no direct news related to AEI Income & Growth Fund XXI Ltd Partnership.

• Wheat prices showed gains at the end of the week, reflecting commodity market movements [N1].
• Discussions on readiness for agentic AI in big tech were highlighted, unrelated to the Partnership's business [N2].
• Cattle markets rallied to close out the week, indicating trends in agricultural commodities [N3][N4].
• The S&P 500 indicated heightened recession odds, signaling broader market concerns [N5].
• Corn prices declined heading into the weekend, showing volatility in commodity markets [N6][N7].
• Wheat continued to push higher to close the week, reflecting ongoing commodity price movements [N8].

The Partnership's ability to generate cash flow from property sales and rental income supports stable distributions to partners. Its liquidity position, with a current ratio above 2, indicates financial flexibility. The repurchase of units from Limited Partners can increase ownership concentration, potentially benefiting remaining partners. Management's focus on cost control and experienced personnel supports operational efficiency.

The Partnership faces competition from larger commercial real estate entities with greater financial resources, which may impact its ability to sell properties at favorable terms. The absence of direct employees and reliance on an affiliate for management could pose operational risks. The limited scale and minor market position may constrain growth opportunities. Market conditions affecting real estate values and rental income could impact cash flow and distributions.

The Partnership operates in a competitive commercial real estate market where it is a minor participant relative to larger entities with greater financial resources. Its moat is limited by its size and competitive pressures in property sales and acquisitions. The management structure via an affiliate and stable distribution policy provide operational consistency but do not constitute a significant competitive advantage.

• Competitive Pressure: The Partnership is a minor player in commercial real estate and competes with larger entities that have greater financial resources, which may affect its ability to dispose of properties favorably [S1].
• Operational Dependence: The Partnership has no direct employees and depends on AEI Fund Management, Inc. for management services, which could pose risks if management services are disrupted [S1].
• Unit Repurchase Limitations: The Partnership's obligation to repurchase units is limited to 5% of outstanding units annually and subject to the Managing General Partner's discretion, which may affect liquidity for Limited Partners [S1].
• Market and Real Estate Risks: Changes in real estate market conditions could impact rental income, property values, and the ability to generate cash flow from sales, affecting distributions and financial stability [S1].

• AEI Income & Growth Fund XXI Ltd Partnership is a partnership engaged in commercial real estate investment and management [S1].
• The Partnership is a minor player in the commercial real estate business and competes with larger entities with greater financial resources [S1].
• The Partnership has no direct employees; management services are provided by AEI Fund Management, Inc., an affiliate [S1].
• AEI Fund Management, Inc. reduced employee headcount in 2024, resulting in expense reductions in compensation and benefits [S1].
• The Management Company emphasizes attracting and retaining experienced personnel and enforces a code of conduct promoting ethical behavior and anti-discrimination [S1].
• Compensation includes base pay, bonuses, and a broad range of benefits such as medical, dental, ancillary health benefits, and paid parental leave [S1].
• The Partnership's major cash flow components are investments in real estate and proceeds from property sales [S1,S2].
• In 2025, the Partnership generated $1,345,607 in cash flow from the sale of real estate, including the sale of a 40% interest in a property in Auburn Hills, Michigan [S1,S2].
• The Partnership declared distributions of $872,469 in 2025 and $692,933 in 2024, allocated 99% to Limited Partners and 1% to General Partners [S1].
• The Partnership repurchased 1,105.87 Units for $794,534 from Limited Partners in 2025, increasing remaining partners' ownership interests [S1].
• The Partnership attempts to maintain stable quarterly distribution rates and pays distributions shortly after quarter-end [S1,S2].
• The Partnership may repurchase tendered Units on April 1 and October 1 each year, subject to limitations and discretion of the Managing General Partner [S1,S2].
• The Partnership had no material off-balance sheet arrangements as of December 31, 2025 [S1].
• As of December 31, 2025, the Partnership had cash and equivalents of $611,817, current assets of $611,817, and current liabilities of $272,480, resulting in a current ratio and cash ratio of 2.25 [S1].
• The continuing rent payments from properties and proceeds from property sales are expected to be adequate to fund distributions and meet obligations in the short and long term [S1,S2].