Creative Media & Community Trust (CMCT) investor relations material

Executive summary

• Strategic focus shifted toward premier multifamily and creative office assets, with a portfolio transition away from traditional office space since 2019 and ongoing balance sheet strengthening and liquidity improvement since September 2024.

• Completed sale of lending division in January 2026 for $44.9 million, generating $31.2 million net cash proceeds.

• Redeemed significant preferred stock into common stock, improving annual FFO by $16 million and aligning capital structure to long-term targets, with further redemptions planned for 1Q'26.

• Strategy leverages trends toward cohesive work/live lifestyles and targets high-growth industries like entertainment and technology.

• Significant progress made on balance sheet improvement, including asset financings and credit facility retirement.

Financial highlights

• Core FFO for Q4 2025 was negative $5.9 million; FFO was negative $7.1 million, both improved year-over-year.

• Segment NOI for Q4 2025 was $10.9 million, up from $9.2 million in Q4 2024, driven by lending and office segments.

• Multifamily segment NOI decreased to a loss of $870,000 from income of $855,000 year-over-year, mainly due to unrealized losses in joint ventures.

• Hotel NOI was $2.1 million, consistent with the prior year.

• Net loss attributable to common stockholders for 2025 was $(61.65) million, an improvement from $(73.34) million in 2024.

Outlook and guidance

• Expecting improved cash flow in 2026, supported by higher net operating income, occupancy gains, and lower interest expense.

• Ongoing focus on expanding the multifamily portfolio, improving property-level performance, and evaluating development opportunities in Austin, Los Angeles, Oakland, and Sacramento.

• No current plans for further preferred stock redemptions at company’s election, but will consider holder requests; further redemptions planned for 1Q'26.

• Anticipate refinancing the renovated hotel and further asset sales to enhance liquidity.

• Management anticipates further improvement in multifamily and office occupancy and rental rates.