Belpointe PREP OZ

Belpointe PREP, LLC is a Delaware limited liability company that operates as a publicly traded qualified opportunity fund focused on acquiring developing and managing commercial and mixed use real estate located within qualified opportunity zones. The company is the only publicly traded qualified opportunity fund listed on a national securities exchange trading under the symbol OZ on the NYSE American. It is externally managed by Belpointe PREP Manager, LLC which carries out investment decisions property management and administrative services under a management agreement. At least ninety percent of its assets consist of qualified opportunity zone property enabling certain investors to receive favorable capital gains tax treatment.

The company generates revenue primarily from rental income collected from leasing its portfolio of commercial and mixed use properties to tenants. Income is derived from residential units office spaces and retail locations that are stabilized and producing cash flow. The company seeks to increase occupancy and rental rates to grow its cash flow from operations. Additional revenue may arise from property sales or financing activities but the core driver remains recurring lease payments from occupants. By maintaining high quality properties and responding to market demand the company aims to sustain and expand its revenue base over time.

The company operates through the following segments: commercial and mixed use.

• Commercial: This segment focuses on acquiring developing and managing office industrial and other non residential properties that are used for business operations.

• Mixed use: This segment comprises properties that combine residential units with retail office or other commercial spaces to create integrated live work environments.

Belpointe PREP, LLC holds a distinctive position as the sole publicly traded qualified opportunity fund listed on a national securities exchange which provides it with unique access to public capital markets. It competes with other qualified opportunity funds real estate investment trusts Delaware statutory trusts pension funds insurance companies private equity firms and various developers for investment opportunities. Although many competitors possess greater financial and technical resources the company benefits from its manager’s access to the sponsor’s investment platform extensive real estate expertise and industry relationships which help it source evaluate and execute investments.

The company serves residential tenants seeking rental housing and commercial tenants that include retailers offices and other service providers. A notable retail tenant is Sprouts Farmers Market which occupies space at the Aster & Links property in Sarasota Florida. The tenant base consists of individuals families and businesses across the markets where the properties are located.