FRPH · Frp Holdings, Inc.

The price reported in Column 4 is a weighted average price. The actual purchase prices for these transactions ranged from $21.88 to $22.00. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares purchased at each separate price within the range.

Shares are held by the Trust FBO John D. Baker II U/A Cynthia L. Baker Trust dated 4/30/1965, for which the Reporting Person serves as co-trustee, and of which the Reporting Person is the sole income beneficiary. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

The price reported in Column 4 is a weighted average price. The actual purchase prices for these transactions ranged from $21.85 to $22.00. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares purchased at each separate price within the range.

Shares are held by the Trust FBO John D. Baker II U/A Cynthia L. Baker Trust dated 4/30/1965, for which the Reporting Person serves as co-trustee, and of which the Reporting Person is the sole income beneficiary. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

The price reported in Column 4 is a weighted average price. The actual purchase prices for these transactions ranged from $21.50 to $22.00. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares purchased at each separate price within the range.

The reporting person was awarded shares pursuant to the Company's director compensation arrangements.

The reporting person was awarded shares pursuant to the Company's director compensation arrangements.

The reporting person was awarded shares pursuant to the Company's director compensation arrangements.

The reporting person was awarded shares pursuant to the Company's director compensation arrangements.

The reporting person was awarded shares pursuant to the Company's director compensation arrangements.

The reporting person was awarded shares pursuant to the Company's director compensation arrangements.

Shares are held by the Trust FBO John D. Baker II U/A Cynthia L. Baker Trust dated 4/30/1965, for which the Reporting Person serves as co-trustee, and of which the Reporting Person is the sole income beneficiary. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

Represents the forfeiture of restricted stock originally granted to the Reporting Person on January 1, 2024 due to the Issuer not achieving the target performance criteria.

Represents the forfeiture of restricted stock originally granted to the Reporting Person on January 1, 2024 due to the Issuer not achieving the target performance criteria.

Represents the forfeiture of restricted stock originally granted to the Reporting Person on January 1, 2024 due to the Issuer not achieving the target performance criteria.

Represents the forfeiture of restricted stock originally granted to the Reporting Person on January 1, 2024 due to the Issuer not achieving the target performance criteria.

Represents the forfeiture of options originally granted to the Reporting Person on January 1, 2024 due to the Issuer not achieving the target performance criteria.

The reported disposition reflects a distribution of shares in connection with the termination of the Reporting Person's grantor retained annuity trust. The shares were distributed to irrevocable trusts for the benefit of the Reporting Person's children.

In connection with the termination of John D. Baker II's grantor retained annuity trust, 48,721 shares were distributed to the John D Baker II 2018 Irrevocable Trust FBO John D Baker III. The Reporting Person serves as co-trustee and is the sole beneficiary of such trust.

The reported disposition reflects a distribution of shares in connection with the termination of the Reporting Person's grantor retained annuity trust. The shares were distributed to irrevocable trusts for the benefit of the Reporting Person's children.

This item was amended to reflect the correct amount of securities beneficially owned following the reported disposition.

The Reporting Person gifted shares to family members.

The Reporting Person gifted shares to family members.

The Reporting Person was gifted shares by a family member.

The Reporting Person gifted shares to family members.

This amendment revises the footnote included on the original filing to reflect that the Reporting Person was awarded restricted shares pursuant to the Issuer's Equity Incentive Plan. The shares vest ratably over four years commencing on December 31, 2026.

This amendment revises the footnote included on the original filing to reflect that the Reporting Person was awarded restricted shares pursuant to the Issuer's Equity Incentive Plan. The shares vest ratably over four years commencing on December 31, 2026.

This amendment revises the footnote included on the original filing to reflect that the Reporting Person was awarded restricted shares pursuant to the Issuer's Equity Incentive Plan. The shares vest ratably over four years commencing on December 31, 2026.

The Reporting Person was awarded shares of restricted stock pursuant to the Issuer's Equity Incentive Plan. The shares are subject to performance-based vesting criteria for the two-year period ending December 31, 2027. If the performance-based criteria are achieved, 25% of the shares will vest upon the Compensation Committee's determination (in March 2028) that such criteria have been achieved, and 25% will vest on December 31st of each of 2028, 2029, and 2030, subject to the Reporting Person's continued employment.

The Reporting Person was awarded options pursuant to the Issuer's Equity Incentive Plan. The options vest ratably over four years commencing on December 31, 2026.

This amendment revises the footnote included on the original filing to reflect that the Reporting Person was awarded restricted shares pursuant to the Issuer's Equity Incentive Plan. The shares vest ratably over four years commencing on December 31, 2026.

This amendment revises the footnote included on the original filing to reflect that the Reporting Person was awarded restricted shares pursuant to the Issuer's Equity Incentive Plan. The shares vest ratably over four years commencing on December 31, 2026.

The Reporting Person gifted shares to family members.

The Reporting Person acquired shares through a cashless exercise transaction with the issuer in which the Reporting Person surrendered optioned shares in payment of the purchase price and withholding tax obligations.

The reporting person was awarded shares pursuant to the Company's director compensation arrangements.

The reporting person was awarded shares pursuant to the Company's director compensation arrangements.

The reporting person was awarded shares pursuant to the Company's director compensation arrangements.

The reporting person was awarded shares pursuant to the Company's director compensation arrangements.

The reporting person was awarded shares pursuant to the Company's director compensation arrangements.

This item has been amended to reflect the correct price.

The reporting person was awarded shares pursuant to the Company's director compensation arrangements.

The original filing is being amended to reflect a correct transaction code.

The Reporting Person earned these shares of restricted stock pursuant to a performance share award granted January 1, 2023 under the Issuer's Equity Incentive Plan, based on the achievement of the performance-based vesting criteria for the two-year performance period ended December 31, 2024. 25% of the shares vested on March 5, 2025, and 25% will vest on December 31st of each of 2025, 2026, and 2027, subject to the Reporting Person's continued employment.