Chicago Atlantic Real Estate Finance, Inc. — fact timeline

Chicago Atlantic Real Estate Finance, Inc. entered into Agreement and Plan of Merger with Chicago Atlantic BDC, Inc., Chicago Atlantic BDC Advisers, LLC, Chicago Atlantic REIT Manager, LLC (effective 2026-06-17).

“On June 17, 2026, Chicago Atlantic Real Estate Finance, Inc., a Maryland corporation (the “ Company ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with Chicago Atlantic BDC, Inc., a Maryland corporation (“ Acquiror ”), Chicago Atlantic BDC Advisers, LLC, a Delaware limited liability company and the investment adviser to Acquiror (the “ Acquiror Adviser ”), and Chicago Atlantic REIT Manager, LLC, a Delaware limited liability company and the external manager to the Company (the “ Company Manager ,” and together with Acquiror Adviser, the “ Advisers ”).”

Chicago Atlantic Real Estate Finance, Inc. shareholders approved Ratification of BDO USA, P.C. as independent registered public accounting firm at the 2026-06-11 meeting.

“Shareholders ratified the appointment of BDO USA, P.C., as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026 based on the following votes: For Against Abstain Broker Non-Votes 12,995,674 72,645 94,847 -”

Chicago Atlantic Real Estate Finance, Inc. shareholders approved Election of five directors at the 2026-06-11 meeting.

“Shareholders elected five members of the board of directors of the Company, each to serve until the 2027 annual meeting of shareholders and until their successors are duly elected and qualified.”

Chicago Atlantic Real Estate Finance, Inc. reported first quarter ended March 31, 2026 results: net income Net income $ 4,840,364 $ 0.23, EPS Distributable earnings - diluted $ 9,833,020 $ 0.46.

“$ 0.61 $ 14,238,203 $ 0.66 $ 13,041,933 $ 0.61 Total expenses before provision for expected credit losses $ 4,239,871 $ 0.20 $ 5,981,137 $ 0.28 $ 4,073,897 $ 0.19 Net income $ 4,840,364 $ 0.23 $ 8,157,249 $ 0.38 $ 10,041,312 $ 0.47 (Benefit) provision for current expected credit losses $ 3,837,851 $ 0.18 $ 99,817 $ 0.00 $ (1,073,276 ) $ (0.05 ) Distributable”

Chicago Atlantic Real Estate Finance, Inc. reported the year ended December 31, 2025 results: revenue $ 55,390,399, net income $ 36,010,478, EPS $ 1.68.

“For the year ended December 31, 2025 December 31, 2024 Total Amount Per Share Total Amount Per Share OPERATING RESULTS Net interest income $ 55,390,399 $ 2.58 $ 54,950,885 $ 2.56 Total expenses before provision for expected credit losses $ 18,813,870 $ 0.88 $ 18,320,604 $ 0.85 Net income - diluted $ 36,010,478 $ 1.68 $ 37,045,403 $ 1.72”

Chicago Atlantic Real Estate Finance, Inc. reported the fourth quarter ended December 31, 2025 results: revenue $ 14,238,203, net income $ 8,157,249, EPS $ 0.38.

“For the three months ended December 31, 2025 September 30, 2025 December 31, 2024 Total Amount Per Share Total Amount Per Share Total Amount Per Share OPERATING RESULTS Net interest income $ 14,238,203 $ 0.66 $ 13,685,274 $ 0.64 $ 14,068,376 $ 0.69 Total expenses before provision for expected credit losses $ 5,981,137 $ 0.28 $ 4,193,515 $ 0.20 $ 5,682,193 $ 0.28 Net income $ 8,157,249 $ 0.38 $ 8,934,539 $ 0.42 $ 7,919,692 $ 0.39”

Chicago Atlantic Real Estate Finance, Inc. amended revolving credit with various financial institutions maturing June 30, 2028.

“The August 2025 Amendment amends the Sixth Amended and Restated Loan and Security Agreement, dated September 30, 2024 (the “Sixth Amended and Restated LSA”), to extend the contractual maturity date from June 30, 2026 to June 30, 2028.”

Chicago Atlantic Real Estate Finance, Inc. updated its first quarter ended March 31, 2024 guidance (reaffirmed).

“issued a press release announcing its financial results for the first quarter ended March 31, 2024.”

Chicago Atlantic Real Estate Finance, Inc. reported year ended December 31, 2023 results: net income Net Income of approximately $38.7 million, EPS $2.11 per weighted average diluted common share.

“Net Income of approximately $38.7 million, or $2.11 per weighted average diluted common share.”

Chicago Atlantic Real Estate Finance, Inc. reported fourth quarter ended December 31, 2023 results: net income Net income of approximately $9.4 million, EPS $0.51 per weighted average diluted share.

“Net income of approximately $9.4 million, or $0.51 per weighted average diluted share, representing a sequential decrease of 5.8%, primarily due to the aforementioned increase in net management and incentive fees.”

Chicago Atlantic Real Estate Finance, Inc. amended revolving credit of up to $150 million maturing June 30, 2026.

“extend the contractual maturity date from December 16, 2024 to June 30, 2026, and increase the accordion feature of the Revolving Loan to permit aggregate loan commitments of up to $150 million.”

Chicago Atlantic Real Estate Finance, Inc. amended Fifth Amended and Restated Loan and Security Agreement with the various financial institutions party thereto, as lenders valued at up to $150 million (effective 2024-02-28).

“On February 28, 2024, Chicago Atlantic Lincoln, LLC (“CAL”), a Delaware limited liability company and a wholly-owned financing subsidiary of Chicago Atlantic Real Estate Finance, Inc. (the “Company”), entered into the Fifth Amended and Restated Loan and Security Agreement (the “Fifth Amended and Restated LSA”) by and among CAL and other borrowers from time to time party thereto, as the borrower (the “Borrowers”), and the various financial institutions party thereto, as lenders (the “Lenders”) related to a secured revolving credit facility (the “Revolving Loan”).”

Chicago Atlantic Real Estate Finance, Inc. updated its the third quarter ended September 30, 2023 guidance (reaffirmed).

“On November 8, 2023, Chicago Atlantic Real Estate Finance, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2023.”

Chicago Atlantic Real Estate Finance, Inc. reported second quarter ended June 30, 2023 results: revenue approximately $13.7 million, net income approximately $10.1 million, EPS $0.55 per weighted average diluted common share. Guidance reaffirmed.

“of common stock for the second quarter of 2023 to common stockholders of record on June 30, 2023. Second Quarter 2023 Financial Results ● Net interest income of approximately $13.7 million, representing a sequential decrease of 8.3%; due to the impact of timing of early principal repayments and lower average principal outstanding during the three months ended”

Chicago Atlantic Real Estate Finance, Inc. shareholders approved Ratification of the Appointment of BDO USA LLP to serve as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2023 at the 2023-06-15 meeting.

“Ratification of the Appointment of BDO USA LLP to serve as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2023: Stockholders of the Company ratified the appointment of BDO USA LLP to serve as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2023 based on the following votes: Votes For Votes Against Abstentions/ Withheld Broker Non-Votes All Stockholders 12,168,943 94,041 127,314 0”

Chicago Atlantic Real Estate Finance, Inc. shareholders approved Election of Directors at the 2023-06-15 meeting.

“The Company held its 2023 Annual Meeting of Stockholders on June 15, 2023 and submitted two (2) matters to the vote of stockholders. A summary of the matters voted upon by the stockholders is set forth below. Election of Directors: Stockholders of the Company elected nine nominees for director, each to serve for a one-year term to expire at the 2024 Annual Meeting of Stockholders based on the following votes: Nominee Total Votes For Total Votes Withheld Broker Non-Votes Andreas Bodmeier 3,827,939 155,969 8,406,390 John Mazarakis 3,827,550 156,358 8,406,390 Anthony Cappell 3,943,564 40,344 8,406,390 Peter Sack 3,814,319 169,589 8,406,390 Jason Papastavrou 2,346,045 1,637,863 8,406,390 Frederick C. Herbst 3,938,889 45,019 8,406,390 Donald E. Gulbrandsen 3,058,670 925,238 8,406,390 Brandon Konigsberg 3,900,240 83,668 8,406,390 Michael L. Steiner 3,058,660 925,248 8,406,390”

Chicago Atlantic Real Estate Finance, Inc. entered into Sales Agreements with BTIG, LLC, Compass Point Research & Trading LLC, and Oppenheimer & Co. Inc. valued at up to $75,000,000 (effective 2023-06-20).

“On June 20, 2023, Chicago Atlantic Real Estate Finance, Inc. (the “Company”) and Chicago Atlantic REIT Manager LLC (the “Manager”) entered into separate at-the-market sales agreements (each a “Sales Agreement” and together, the “Sales Agreements”) with BTIG, LLC, Compass Point Research & Trading LLC, and Oppenheimer & Co. Inc. (each a “Sales Agent” and together, the “Sales Agents”).”

Chicago Atlantic Real Estate Finance, Inc. reported first quarter ended March 31, 2023 results: net income Net Income of approximately $10.7 million, or $0.60 per weighted average diluted common share, EPS $0.60 per weighted average diluted common share.

“Chicago Atlantic Real Estate Finance Announces First Quarter 2023 Financial Results”

Chicago Atlantic Real Estate Finance, Inc. reported the fourth quarter and year ended December 31, 2022 results: revenue Net interest income of approximately $14.8 million, net income Net Income of approximately $7.3 million, or $0.41 per weighted average diluted common share, EPS $0.41 per weighted average diluted common share.

“included in the fiscal 2022 taxable income, to common stockholders of record on December 30, 2022. Fourth Quarter 2022 Financial Results ● Net interest income of approximately $14.8 million, representing a sequential increase of 14.1%; primarily due to the increase in the prime rate from 6.25% to 7.50%, improved yield terms on facilities amended and/or restructured”

Chicago Atlantic Real Estate Finance, Inc. amended revolving credit maturing December 16, 2024.

“The First Amendment amends the Third Amended and Restated LSA, dated November 7, 2022, to extend the maturity date from December 16, 2023 to December 16, 2024 and extend the period during which the Company may exercise the one-year extension option, subject to customary closing conditions.”

Chicago Atlantic Real Estate Finance, Inc. amended First Amendment to the Third Amended and Restated Loan and Security Agreement with the various financial institutions party thereto (effective 2023-02-27).

“On February 27, 2023, Chicago Atlantic Lincoln, LLC (“CAL”), a Delaware limited liability company and a wholly-owned financing subsidiary of Chicago Atlantic Real Estate Finance, Inc. (the “Company”), entered into the First Amendment (the “First Amendment”) to the Third Amended and Restated Loan and Security Agreement (the “Third Amended and Restated LSA”) by and among CAL and other borrowers from time to time party thereto, as the borrower (the “Borrowers”), and the various financial institutions party thereto, as lenders (the “Lenders”) related to a secured revolving credit facility (the “Revolving Loan”).”

Chicago Atlantic Real Estate Finance, Inc. reported the third quarter ended September 30, 2022 results: net income Net Income of approximately $9.8 million, or $0.55 per weighted average diluted common share. Guidance raised.

“Chicago Atlantic Real Estate Finance Announces Third Quarter 2022 Financial Results”

Chicago Atlantic Real Estate Finance, Inc. amended Third Amended and Restated Loan and Security Agreement with various financial institutions party thereto, as lenders valued at from $65 million to $92.5 million (effective 2022-11-07).

“On November 7, 2022, Chicago Atlantic Lincoln, LLC (“CAL”), a Delaware limited liability company and a wholly-owned financing subsidiary of Chicago Atlantic Real Estate Finance, Inc. (the “Company”), entered into a Third Amended and Restated Loan and Security Agreement (the “Third Amended and Restated LSA”) by and among CAL and other borrowers from time to time party thereto, as the borrower (the “Borrowers”), and the various financial institutions party thereto, as lenders (the “Lenders”) related to a secured revolving credit facility (the “Revolving Loan”).”

Phillip Silverman was appointed as Interim Chief Financial Officer and Secretary at Chicago Atlantic Real Estate Finance, Inc..

“In connection with Ms. Menze’s resignation, on September 20, 2022, the Company’s Board of Directors appointed Phillip Silverman, the Company’s Controller, as Interim Chief Financial Officer and Secretary of the Company, effective as of the close of business on September 30, 2022.”

Lindsay Menze resigned as Chief Financial Officer and Secretary at Chicago Atlantic Real Estate Finance, Inc..

“On September 16, 2022, Lindsay Menze tendered her resignation as Chief Financial Officer and Secretary of Chicago Atlantic Real Estate Finance, Inc. (the “Company”), effective as of the close of business on September 30, 2022.”