CREX · Creative Realities, Inc.

Includes 450,000 Restricted Stock Units ("RSUs") granted to Reporting Person by Issuer pursuant to a Restricted Stock Unit Agreement in accordance with Issuer's 2023 Stock Incentive Plan, as amended (the "Plan"). The RSUs vest as follows: 150,000 vested on December 31, 2025, 150,000 vest on July 3, 2027 and 150,000 vest on July 3, 2028, subject to acceleration upon the earliest of Reporting Person's death or disability, termination of employment without "cause" by Issuer, or the occurrence of a "Sale Transaction" (as defined in the Plan). Vested RSUs will be settled upon the earliest of Reporting Person's death or disability, termination of employment, or the occurrence of a Sale Transaction that is also a change in control event within the meaning of Internal Revenue Code Section 409A.

Issued for director services provided in 2025 as part of Issuer's Non-employee Director Compensation Plan under Issuer's 2023 Stock Incentive Plan, as amended.

Issued for director services provided in 2025 as part of Issuer's Non-employee Director Compensation Plan under Issuer's 2023 Stock Incentive Plan, as amended.

Issued for director services provided in 2025 as part of Issuer's Non-employee Director Compensation Plan under Issuer's 2023 Stock Incentive Plan, as amended.

Issued for director services provided in 2025 as part of Issuer's Non-employee Director Compensation Plan under Issuer's 2023 Stock Incentive Plan, as amended.

Issued for director services provided in 2025 as part of Issuer's Non-employee Director Compensation Plan under Issuer's 2023 Stock Incentive Plan, as amended.

Issued for director services provided in 2025 as part of Issuer's Non-employee Director Compensation Plan under Issuer's 2023 Stock Incentive Plan, as amended.

On January 6, 2026, Slipstream Funding, LLC ("Slipstream Funding") and Slipstream Communications, LLC ("Slipstream Communications") sold the shares at a price of $2.52 per share after discounts and commissions.

The reported securities were held directly by Slipstream Funding and Slipstream Communications. Slipstream Communications is the sole member of Slipstream Funding. BCOM Holdings, LP ("BCOM Holdings") is the managing member of Slipstream Communications. BCOM GP LLC ("BCOM GP") is the general partner of BCOM Holdings. Business Services Holdings, LLC ("Business Services Holdings") is the sole member of BCOM GP. Pegasus Investors IV, L.P. ("Pegasus Investors") directly and indirectly holds 100% of the interests in Business Services Holdings. Pegasus Investors IV GP, L.L.C. ("Pegasus Investors GP") is the general partner of Pegasus Investors.

Pegasus Investors GP is wholly owned by Pegasus Capital, LLC ("Pegasus Capital"). Pegasus Capital may be deemed to be directly or indirectly controlled by Mr. Craig Cogut. Each of Slipstream Funding, Slipstream Communications, BCOM Holdings, BCOM GP, Business Services Holdings, Pegasus Investors, Pegasus Investors GP, Pegasus Capital and Mr. Cogut disclaim beneficial ownership of any of the issuer's securities as to which this report relates except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of the foregoing entities or Mr. Cogut is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purposes.

Represents 100,000 options to purchase shares of Issuer's common stock, granted to Reporting Person subject to the terms of Issuer's 2023 Stock Incentive Plan, as amended, and the general form of Issuer's stock option agreement, with options vesting in three installments as follows: 33,333 vest on December 1, 2026, 33,333 vest on December 1, 2027 and 33,334 vest on December 1, 2028.

Represents 450,000 Restricted Stock Units ("RSUs") granted to Reporting Person by Issuer pursuant to a Restricted Stock Unit Agreement in accordance with Issuer's 2023 Stock Incentive Plan, as amended (the "Plan"), with RSUs vesting in three equal installments as follows: 150,000 vest on December 31, 2025, 150,000 vest on July 3, 2027 and 150,000 vest on July 3, 2028. Accelerated vesting shall occur upon the earliest of Reporting Person's death or disability, termination of employment without "cause" by Issuer, or a "Sale Transaction" occurring under the Plan.

Represents 50,000 Restricted Stock Units ("RSUs") granted to Reporting Person by Issuer pursuant to a Restricted Stock Unit Agreement in accordance with Issuer's 2023 Stock Incentive Plan, as amended (the "Plan"), with RSUs vesting in three installments as follows: 16,666 vest on July 3, 2026, 16,667 vest on July 3, 2027 and 16,6667 vest on July 3, 2028. Accelerated vesting shall occur upon the earliest of Reporting Person's death or disability, or a "Sale Transaction" occurring under the Plan.

The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.9850 to $3.4599, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth.

Represents 206,000 options issued pursuant to an Option Agreement in accordance with Issuer's 2023 Stock Incentive Plan, as amended, with options vesting and exercisable in three installments as follows: 68,667 options vest on June 2, 2026, 68,667 options vest on June 2, 2027, and 68,666 options vest on June 2, 2028.

Represents 69,000 options issued pursuant to an Option Agreement in accordance with Issuer's 2023 Stock Incentive Plan, as amended, with options vesting and exercisable in three installments as follows: 23,000 options vest on June 2, 2026, 23,000 options vest on June 2, 2027, and 23,000 options vest on June 2, 2028.

Issued for director services provided in 2024 as part of CREX's director compensation program.

Issued for services provided in 2023 to CREX's special committee.

Issued for director services provided in 2023 as part of CREX's director compensation program.

On March 27, 2023, the Company effectuated a 1-for-3 reverse stock split of its outstanding common stock, at which time the CREX common stock owned by the reporting person was combined into 59,564 shares of common stock.

Issued for director services provided in 2024 as part of CREX's director compensation program.

Issued for director services provided in 2024 as part of CREX's director compensation program.

Issued for services provided in 2023 to CREX's special committee.

Issued for director services provided in 2023 as part of CREX's director compensation program.

On March 27, 2023, the Company effectuated a 1-for-3 reverse stock split of its outstanding common stock, at which time the CREX common stock owned by the reporting person was combined into 30,897 shares of common stock.

Issued for director services provided in 2023 as part of CREX's director compensation program.

On March 27, 2023, the Company effectuated a 1-for-3 reverse stock split of its outstanding common stock, at which time the CREX common stock owned by the reporting person was combined into 148,769 shares of common stock.

Issued for director services provided in 2022 as part of CREX's existing director compensation program.

Issued for director services provided in 2022 as part of CREX's existing director compensation program.

Issued for director services provided in 2022 as part of CREX's existing director compensation program.

Issued for director services provided in 2022 as part of CREX's existing director compensation program.

The option becomes exercisable, if at all, based on price per share as follows: 30,000 shares vest at a share target price of $2.00; 60,000 shares vest at a share target price of $3.00; 90,000 shares vest at a share target price of $4.00; 120,000 shares vest at a share target price of $5.00; 150,000 shares vest at a share target price of $6.00; and 150,000 shares vest at the "Guaranteed Price." The "Guaranteed Price" has the meaning as defined in the Agreement and Plan of Merger by and among Reflect Systems, Inc., Creative Realities, Inc., CRI Acquisition Corporation and RSI Exit Corporation dated as of November 12, 2021 (the "Merger Agreement") (as filed with the SEC on Form 8-K dated November 12, 2021) and means (a) $6.40 per share, or (b) $7.20 per share, if and only if, certain customers set forth in the Merger Agreement collectively achieve over 85,000 billable devices online at any time on or before December 31, 2022.

The option becomes exercisable, if at all, based on price per share as follows: 50,000 shares vest at a share target price of $2.00; 100,000 shares vest at a share target price of $3.00; 150,000 shares vest at a share target price of $4.00; 200,000 shares vest at a share target price of $5.00; 250,000 shares vest at a share target price of $6.00; and 250,000 shares vest at the "Guaranteed Price." The "Guaranteed Price" has the meaning as defined in the Agreement and Plan of Merger by and among Reflect Systems, Inc., Creative Realities, Inc., CRI Acquisition Corporation and RSI Exit Corporation dated as of November 12, 2021 (the "Merger Agreement") (as filed with the SEC on Form 8-K dated November 12, 2021) and means (a) $6.40 per share, or (b) $7.20 per share if and only if certain customers set forth in the Merger Agreement collectively achieve over 85,000 billable devices online at any time on or before December 31, 2022.

The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.68 to $0.72, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth.

Shares purchased in multiple transactions at price reported in column 4.

Shares purchased in multiple transactions at price reported in column 4.

Shares purchased in multiple transactions at price reported in column 4.

Shares purchased in multiple transactions at price reported in column 4.

On June 1, 2020, the reporting person was granted an option to purchase 240,000 shares of common stock. The option vests in three equal annual installments based on certain performance criteria for each of the fiscal years ending December 31, 2020, 2021, and 2022. The performance criteria for 2021 have been met, resulting in vesting of the option as to 80,000 shares.