SUNS · Sunrise Realty Trust, Inc.

Represents restricted stock granted under the Issuer's Stock Incentive Plan and shall vest over a three-year period with approximately 33% vesting on each of the first, second and third anniversaries of January 2, 2026, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement.

Represents restricted stock granted under the Issuer's Stock Incentive Plan and shall become fully-vested on the first anniversary of January 2, 2026, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement.

Represents restricted stock granted under the Issuer's Stock Incentive Plan that is fully-vested as of February 19, 2026.

Represents restricted stock granted under the Issuer's Stock Incentive Plan and shall vest over a three-year period with approximately 33% vesting on each of the first, second and third anniversaries of January 2, 2026, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement.

Represents restricted stock granted under the Issuer's Stock Incentive Plan and shall vest over a three-year period with approximately 33% vesting on each of the first, second and third anniversaries of January 2, 2026, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement.

Represents restricted stock granted under the Issuer's Stock Incentive Plan and shall become fully-vested on the first anniversary of January 2, 2026, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement.

Represents restricted stock granted under the Issuer's Stock Incentive Plan and shall become fully-vested on the first anniversary of January 2, 2026, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement.

This transaction was executed in multiple trades ranging from $9.31 to $9.46; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

These shares are held by the Tannenbaum Family Foundation (formerly known as the Leonard M. Tannenbaum Foundation), for which the Reporting Person serves as the President. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.

This transaction was executed in multiple trades ranging from $9.62 to $9.82; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

These shares are held by the Tannenbaum Family Foundation (formerly known as the Leonard M. Tannenbaum Foundation), for which the Reporting Person serves as the President. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.

This transaction was executed in multiple trades ranging from $9.63 to $9.80; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $9.32 to $9.45; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $9.47 to $9.50; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $9.39 to $9.51; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $9.56 to $9.70; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $9.33 to $9.49; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.75 to $10.79; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.69 to $11.00; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.40 to $10.44; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.47 to $10.50; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.44 to $10.50; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.08 to $10.19; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.47 to $10.97; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.54 to $10.65; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

These shares are held by the Tannenbaum Family Foundation (formerly known as the Leonard M. Tannenbaum Foundation), for which the Reporting Person serves as the President. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.

This transaction was executed in multiple trades ranging from $10.48 to $10.55; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.31 to $10.40; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.40 to $10.50; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.25 to $10.75; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.63 to $10.66; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.20 to $10.30; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $9.95 to $10.00; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.70 to $11.10; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $11.13 to $11.21; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $11.24 to $11.25; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $11.15 to $11.35; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $11.00 to $11.07; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.96 to $11.00; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.99 to $11.09; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $10.79 to $10.80; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

This transaction was executed in multiple trades ranging from $11.29 to $11.30; the price reported reflects the weighted average price. The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

Represents 1,000,000 shares of common stock purchased by the Reporting Person at the public offering price of $12.00 per share of common stock in connection with the Issuer's public offering, which closed on January 29, 2025.

Represents restricted stock granted under the Issuer's Stock Incentive Plan and shall become fully-vested on the first anniversary of December 19, 2024, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement.

Represents restricted stock granted under the Issuer's Stock Incentive Plan and shall become fully-vested on the first anniversary of December 19, 2024, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement.

Represents restricted stock granted under the Issuer's Stock Incentive Plan and shall become vested as to 33% of the total number of shares on the first, second and third anniversaries of December 19, 2024, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement.

Includes 7,538 shares received in connection with the spin-off of the Issuer from AFC, of which 5,976 shares are restricted shares received in the spin-off from restricted common stock granted under the AFC Stock Incentive Plan (the AFC Plan). 1,427 shares are restricted shares received in the spin-off from restricted common stock granted under the AFC Plan on January 3, 2023 with approximately 50% of the remaining restricted shares vesting on each of January 3, 2025 and 2026, 275 shares are restricted shares received in the spin-off from restricted common stock granted under the AFC Plan on January 11, 2022 with approximately 50% of the remaining restricted shares vesting on each of January 11, 2025 and 2026 and 4,274 shares shall vest over a three-year period with approximately 33% vesting on each of the first, second and third anniversaries of January 2, 2024, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement.

This transaction was executed in multiple trades ranging from $13.14 to $13.15; the price reported reflects the weighted average price. The Reporting Person herby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

Represents restricted stock granted under the Issuer's Stock Incentive Plan and shall become fully-vested on the first anniversary of December 19, 2024, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement.

Represents restricted stock granted under the Issuer's Stock Incentive Plan and shall become vested as to 33% of the total number of shares on the first, second and third anniversaries of December 19, 2024, subject to early termination and adjustment as provided in the applicable restricted stock grant agreement.