AXR · Amrep Corp.

Grant of restricted stock under the AMREP Corporation 2016 Equity Compensation Plan. The restricted stock will vest as follows: 750 shares on July 13, 2027, 750 shares on July 13, 2028 and 750 shares on July 13, 2029, subject to the continued employment of Ms. Uleau by AMREP Corporation on each vesting date.

Grant of restricted stock under the AMREP Corporation 2016 Equity Compensation Plan. The restricted stock will vest as follows: 2,900 shares on July 13, 2027, 2,900 shares on July 13, 2028 and 2,900 shares on July 13, 2029, subject to the continued employment of Mr. Vitale by AMREP Corporation on each vesting date.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $25.13 to $26.00 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $26.49 to $26.90 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $27.10 to $27.74 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $25.52 to $25.84 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.48 to $24.50 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.65 to $24.75 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $27.36 and $27.90 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $27.505 to $27.90 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $27.97 to $28.20 per share. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

The reported securities are held directly by the Reporting Person's Individual Retirement Account.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $27.27 to $27.85 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $27.60 to $28.131 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $27.04 to $27.64 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.986 to $25.92 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $26.01 to $26.07 per share.

The shares are held by James H. Dahl.

On March 4, 2026, the Reporting Person filed a Form 4 that inadvertently and incorrectly stated the transaction date as March 3, 2026. This amendment reports the correct transaction date, which is March 2, 2026.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $25.50 to $26.42 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $26.00 to $26.3899 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.93 to $ 25.82 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $25.65 to $26.00 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $26.24 to $26.52 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $25.19 to $26.18 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.29 to $25.23 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $25.35 to $25.86 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $25.07 to $25.94 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $23.98 to $24.95 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $23.175 to $24.00 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.2999 to $24.35 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $23.84 to $24.00 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $22.83 to $23.76 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $21.685 to $22.59 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $20.68 to $21.65 per share.

The shares are held by James H. Dahl.

These deferred stock units vest immediately upon grant. Each deferred stock unit represents the right to receive one share of the Issuer's common stock, which will be distributed within 30 days after the first day of the month to follow the grantee's termination of service as a director of the Issuer.

These deferred stock units vest immediately upon grant. Each deferred stock unit represents the right to receive one share of the Issuer's common stock, which will be distributed within 30 days after the first day of the month to follow the grantee's termination of service as a director of the Issuer.

These deferred stock units vest immediately upon grant. Each deferred stock unit represents the right to receive one share of the Issuer's common stock, which will be distributed within 30 days after the first day of the month to follow the grantee's termination of service as a director of the Issuer.

Grant of restricted stock under the AMREP Corporation 2016 Equity Compensation Plan. The restricted stock will vest as follows: 700 shares on July 17, 2026, 700 shares on July 17, 2027 and 700 shares on July 17, 2028, subject to the continued employment of Ms. Uleau by AMREP Corporation on each vesting date.

Grant of restricted stock under the AMREP Corporation 2016 Equity Compensation Plan. The restricted stock will vest as follows: 2,666 shares on July 17, 2026, 2,667 shares on July 17, 2027 and 2,667 shares on July 17, 2028, subject to the continued employment of Mr. Vitale by AMREP Corporation on each vesting date.

These deferred stock units vest immediately upon grant. Each deferred stock unit represents the right to receive one share of the Issuer's common stock, which will be distributed within 30 days after the first day of the month to follow the grantee's termination of service as a director of the Issuer.

These deferred stock units vest immediately upon grant. Each deferred stock unit represents the right to receive one share of the Issuer's common stock, which will be distributed within 30 days after the first day of the month to follow the grantee's termination of service as a director of the Issuer.

These deferred stock units vest immediately upon grant. Each deferred stock unit represents the right to receive one share of the Issuer's common stock, which will be distributed within 30 days after the first day of the month to follow the grantee's termination of service as a director of the Issuer.

This amount includes 181,604 shares of the Common Stock, directly owned by RIC and 114,990 shares of the Common Stock directly owned by RI.

Mr. Robotti may be deemed to beneficially own (solely for the purpose of Rule 16a-1(a)(2) under the Securities Exchange Act of 1934, as amended ("Exchange Act")) certain of the shares of Common Stock set forth in this Form 4 as managing member of Ravenswood Management Company, LLC, which serves as the general partner of RIC and RI. Mr. Robotti disclaims beneficial ownership of all securities reported herein except to the extent of any pecuniary interest therein, if any.

This amount includes 181,604 shares of the Common Stock, $0.10 par value (the "Common Stock") directly owned by The Ravenswood Investment Company L.P. ("RIC") and 127,811 shares of the Common Stock directly owned by Ravenswood Investments III, L.P.

Mr. Robotti may be deemed to beneficially own (solely for the purpose of Rule 16a-1(a)(2) under the Securities Exchange Act of 1934, as amended ("Exchange Act")) certain of the shares of Common Stock set forth in this Form 4 as managing member of Ravenswood Management Company, LLC, which serves as the general partner of RIC and RI. Mr. Robotti disclaims beneficial ownership of all securities reported herein except to the extent of any pecuniary interest therein, if any.

This amount includes 181,783 shares of the Common Stock, directly owned by RIC and 127,811 shares of the Common Stock directly owned by RI.

Mr. Robotti may be deemed to beneficially own (solely for the purpose of Rule 16a-1(a)(2) under the Securities Exchange Act of 1934, as amended ("Exchange Act")) certain of the shares of Common Stock set forth in this Form 4 as managing member of Ravenswood Management Company, L.L.C., which serves as the general partner of RIC and RI. Mr. Robotti disclaims beneficial ownership of all securities reported herein except to the extent of any pecuniary interest therein, if any.

This amount includes 181,783 shares of the Common Stock, directly owned by RIC and 145,307 shares of the Common Stock directly owned by RI.

Mr. Robotti may be deemed to beneficially own (solely for the purpose of Rule 16a-1(a)(2) under the Securities Exchange Act of 1934, as amended ("Exchange Act")) certain of the shares of Common Stock set forth in this Form 4 as managing member of Ravenswood Management Company, L.L.C., which serves as the general partner of RIC and RI. Mr. Robotti disclaims beneficial ownership of all securities reported herein except to the extent of any pecuniary interest therein, if any.

This amount includes 182,140 shares of the Common Stock, directly owned by RIC and 145,307 shares of the Common Stock directly owned by RI.

Mr. Robotti may be deemed to beneficially own (solely for the purpose of Rule 16a-1(a)(2) under the Securities Exchange Act of 1934, as amended ("Exchange Act")) certain of the shares of Common Stock set forth in this Form 4 as managing member of Ravenswood Management Company, L.L.C., which serves as the general partner of RIC and RI. Mr. Robotti disclaims beneficial ownership of all securities reported herein except to the extent of any pecuniary interest therein, if any.

This amount includes 182,140 shares of the Common Stock, $0.10 par value (the "Common Stock") directly owned by The Ravenswood Investment Company, LP ("RIC") and 145,504 shares of the Common Stock directly owned by Ravenswood Investments III, L.P.

Mr. Robotti may be deemed to beneficially own (solely for the purpose of Rule 16a-1(a)(2) under the Securities Exchange Act of 1934, as amended ("Exchange Act")) certain of the shares of Common Stock set forth in this Form 4 as managing member of Ravenswood Management Company, L.L.C., which serves as the general partner of RIC and RI. Mr. Robotti disclaims beneficial ownership of all securities reported herein except to the extent of any pecuniary interest therein, if any.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $29.75 to $30.02 per share.

The shares are held by James H. Dahl.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $29.69 to $29.70 per share.

The shares are held by James H. Dahl.