Creative Media & Community Trust (CMCT) investor relations material

Executive summary

• Net loss attributable to common stockholders was $(14.3) million for Q2 2025, or $(18.94) per diluted share, up from $(9.7) million in Q2 2024, driven by lower segment NOI and higher interest expense.

• Leasing activity surged in 2025, with 140,000 sq. ft. of office leases executed through July, mainly in Los Angeles and Austin, raising the office portfolio to 70%+ leased.

• Strategic focus remains on premier multifamily and creative office assets, asset-light development, and opportunistic asset sales.

• Renovations completed at the Sacramento hotel, with further public space upgrades planned for late 2025.

• Proceeds from asset sales and refinancing used to repay debt, fund growth initiatives, and pay preferred dividends.

Financial highlights

• Q2 2025 total revenues were $29.7 million, down from $34.4 million in Q2 2024; net loss attributable to common stockholders was $(14.3) million, compared to $(9.7) million year-over-year.

• FFO for Q2 2025 was $(7.9) million, or $(10.42) per diluted share, and Core FFO was $(7.2) million, or $(9.53) per share, both declining year-over-year.

• Segment NOI fell to $9.8 million from $16.2 million year-over-year, with declines across all segments.

• Multifamily NOI increased sequentially, but office and hotel NOI declined due to lower occupancy, seasonality, and renovation impacts.

• No cash dividends declared for common stock in the first half of 2025; preferred stock dividends declared and paid.

Outlook and guidance

• Management expects NOI growth in 2026, driven by improved office leasing, hotel renovations, and multifamily lease-up.

• Plans to grow the multifamily portfolio, pursue asset-light co-investment, and upsize key mortgages to support leasing.

• Anticipates potential benefit from a declining interest rate environment and ongoing refinancing of maturing debt.