Sunrise Realty Trust (SUNS) investor relations material

Executive summary

• Focused on originating senior secured, floating-rate loans for transitional real estate, mainly in the Southern U.S., with a portfolio emphasizing residential sectors in Florida and Texas.

• Management team has over $21 billion in CRE and credit transaction experience, leveraging a disciplined investment process and strong local market knowledge.

• 2025 marked a transition year with limited transaction volume early on, improving in the second half as the Fed began easing rates.

• Active pipeline of $652 million and current commitments totaling $442 million as of February 27, 2026.

• Closed $368M in loans via the TCG platform in 2025, with $247M committed and $224M funded by SUNS; received $52M in repayments.

Financial highlights

• FY 2025 net interest income: $21.6M; distributable earnings: $15.2M ($1.19/share); GAAP net income: $12.1M ($0.93/share); Q4 2025 net interest income: $5.2M; distributable earnings: $3.5M ($0.27/share); GAAP net income: $1.6M ($0.12/share).

• Q4 2025 revenue was $7.2M; full year 2025 revenue reached $26.4M.

• Book value per share at year-end: $13.56; total assets: $310.2M; shareholder equity: $182M.

• Dividend yield of approximately 13% based on Q4 2025 dividend and closing stock price as of February 27, 2026.

• Q4 distributable earnings reduced by $0.03/share due to non-accrual of the Thompson Hotels loan.

Outlook and guidance

• Board declared a $0.30/share dividend for Q1 2026, to be paid April 15, 2026.

• Management expects dividend coverage to improve over the next 6-12 months.

• Positioned to capitalize on over $2 trillion in CRE loan maturities by 2027, focusing on scaling in supply-constrained Southern U.S. markets.

• Strategy targets equity-like returns at debt-like risk levels, leveraging market dislocations and migration trends.

• Volatility and rising rates in early 2026 create uncertainty but also opportunities for transitional deals.