Arrived Homes 5 narrows first-half loss to $202K

Q: How much rental income did AEHGS report for the first half of 2026?

AEHGS reported $828,472 in rental income for the six months ended June 30, 2026, compared with $102,005 for the six months ended June 30, 2025.

Q: What was AEHGS's net loss in the first half of 2026?

Net loss was $202,427 for the six months ended June 30, 2026, compared with $542,924 for the same period in 2025; the company described this as an approximately 63% improvement.

Q: How long does AEHGS intend to hold its rental properties?

AEHGS intends to hold and manage series properties for five to seven years as single-family rental properties. The manager may decide to sell a property earlier than five years or hold it for more than seven years.

Q: What distribution requirement does AEHGS describe for REIT status?

A series must distribute annually at least 90% of its REIT taxable income to qualify as a REIT. To avoid federal income and excise taxes on retained taxable income and gains, it must distribute 100% of such income and gains annually.

Liquidity disclosures pair $4,488,768 of related-party bridge financing with stated dependence on rental cash flow or manager financing.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

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Form Type

1-SA

Rhea-AI Filing Summary

Arrived Homes 5, LLC reported unaudited results for the six months ended June 30, 2026, for its series-based single-family rental business. It had acquired 73 properties as of June 30, 2026. Rental income was $828,472, compared with $102,005 for the six months ended June 30, 2025; operating expenses were $863,609, compared with $474,021. Net loss was $202,427, down from $542,924, an approximately 63% improvement. Interest expense was $167,290, compared with $170,907.

Distributions totaled $511,537 from 60 series, compared with $28,607 from 8 series. Net proceeds from series offering closings were $4,203,963, down approximately 51% from $8,611,974, primarily reflecting the timing of closings. At June 30, 2026, related-party bridge financing outstanding was $4,488,768, and cash and cash equivalents were $1,611,276. The company says its ability to continue as a going concern depends on rental cash flow and/or financing from the manager; management believes planned offerings, rental cash flow and manager support will provide sufficient liquidity, but cautions there is no assurance those plans will succeed.

Positive

Rental income was $828,472, compared with $102,005 in the prior-year period.
Net loss narrowed to $202,427 from $542,924, an approximately 63% improvement.

Negative

Management states going-concern ability depends on rental cash flow or manager financing; $4,488,768 in related-party bridge financing was outstanding.

Key Figures

Rental income: $828,472 Operating expenses: $863,609 Net loss: $202,427 +5 more

8 metrics

Rental income $828,472 Six months ended June 30, 2026; compared with $102,005 in 2025

Operating expenses $863,609 Six months ended June 30, 2026; compared with $474,021 in 2025

Net loss $202,427 Six months ended June 30, 2026; compared with $542,924 in 2025

Distributions $511,537 Made by 60 series during the six months ended June 30, 2026

Related-party bridge financing $4,488,768 outstanding As of June 30, 2026

Net proceeds from series offering closings $4,203,963 Six months ended June 30, 2026; compared with $8,611,974 in 2025

Properties acquired 73 properties As of June 30, 2026

Cash and cash equivalents $1,611,276 As of June 30, 2026

Key Terms

bridge financing, REIT taxable income, NAV, going concern, +1 more

5 terms

bridge financing financial

"outstanding bridge financing, related party"

Bridge financing is short-term funding a company uses to cover expenses until longer-term financing or a sale comes through. Think of it as a temporary loan or financial “bridge” that keeps operations running—similar to borrowing to cover a gap between paychecks. Investors watch bridge financing because it can signal cash pressure, potential dilution, or higher costs to raise capital, which affect a company’s risk and value.

REIT taxable income financial

"at least 90% of its REIT taxable income"

REIT taxable income is the portion of a real estate investment trust’s earnings that the tax code treats as subject to tax after allowable deductions and adjustments; it’s the number used to calculate what the REIT owes in taxes and how much income can be passed through to investors. It matters because it influences the size and tax character of distributions shareholders receive and whether the trust meets rules that protect its tax-advantaged status—think of it like a household’s taxable paycheck that determines how much you actually take home after taxes.

NAV financial

"impact the NAV for each of our series"

Net asset value (NAV) is the total value of all the investments and assets in a fund or company, minus any debts or liabilities, divided by the number of shares or units outstanding. It represents the per-share worth, giving investors an idea of what each share is truly worth based on the underlying assets. Think of it like a company's total worth divided among its shares, helping investors assess whether a share is fairly priced.

going concern financial

"ability to continue as a going concern"

Going concern is the accounting assumption that a company will keep operating and meeting its obligations for the foreseeable future. The phrase matters most when a company or its auditors disclose substantial doubt about it, a formal warning that the business may not have enough resources to continue without raising money, restructuring, or selling assets. That language in a filing or press release signals elevated financial risk.

members’ equity (deficit) financial

"Total members’ equity (deficit)"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much rental income did AEHGS report for the first half of 2026?

AEHGS reported $828,472 in rental income for the six months ended June 30, 2026, compared with $102,005 for the six months ended June 30, 2025.

What was AEHGS's net loss in the first half of 2026?

Net loss was $202,427 for the six months ended June 30, 2026, compared with $542,924 for the same period in 2025; the company described this as an approximately 63% improvement.

How often does AEHGS expect to distribute cash?

The manager expects to distribute free cash flow monthly or on another periodic basis it determines. The manager may change the timing of distributions in its sole discretion.

How long does AEHGS intend to hold its rental properties?

AEHGS intends to hold and manage series properties for five to seven years as single-family rental properties. The manager may decide to sell a property earlier than five years or hold it for more than seven years.

What distribution requirement does AEHGS describe for REIT status?

A series must distribute annually at least 90% of its REIT taxable income to qualify as a REIT. To avoid federal income and excise taxes on retained taxable income and gains, it must distribute 100% of such income and gains annually.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/28/2026 - 04:14 PM Accepted by SEC EDGAR 09/28/2026 - 04:13 PM

United States

Securities and Exchange Commission

Washington, D.C. 20549

FORM 1-SA

SEMIANNUAL REPORT PURSUANT TO REGULATION A

For the fiscal semiannual period ended

June 30, 2026

ARRIVED HOMES 5, LLC

(Exact name of issuer as specified in its Certificate of Formation)

Delaware		99-3997278
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

1700 Westlake Avenue North, Suite 200

Seattle, WA 98109

(Full mailing address of principal executive offices)

814-277-4833

(Issuer’s telephone number)

www.arrived.com

(Issuer’s website)

TABLE OF CONTENTS

ITEM 1. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION	1
ITEM 2. OTHER INFORMATION	7
ITEM 3. FINANCIAL STATEMENTS	F-1
ITEM 4. EXHIBITS	8

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

The information contained in this Semiannual Report on Form 1-SA (this “Form 1-SA”) includes some statements that are not historical and that are considered “forward-looking statements.” Such forward-looking statements include, but are not limited to, statements regarding our development plans for our business; our strategies and business outlook; anticipated development of Arrived Homes 5, LLC (the “Company”), Arrived Fund Manager, LLC (the “manager”), each series of our company and the Arrived platform (defined below); and various other matters (including contingent liabilities and obligations and changes in accounting policies, standards and interpretations). These forward-looking statements express the manager’s expectations, hopes, beliefs, and intentions regarding the future. In addition, without limiting the foregoing, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipates,” “believes,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “might,” “plans,” “possible,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” “would” and similar expressions and variations, or comparable terminology, or the negatives of any of the foregoing, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this Form 1-SA are based on current expectations and beliefs concerning future developments that are difficult to predict. Neither our company nor the manager can guarantee future performance, or that future developments affecting our company, the manager or the Arrived platform will be as currently anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

All forward-looking statements attributable to us are expressly qualified in their entirety by these risks and uncertainties. These risks and uncertainties, along with others, are detailed under the headings “Summary – Summary Risk Factors” and “Risk Factors” in Post-Qualification Amendment No. 11 to our Offering Statement on Form 1-A filed by the Company with the Securities and Exchange Commission (the “Commission”), as may be amended, and in our subsequent reports and offering statements filed from time to time with the Commission. Should one or more of these risks or uncertainties materialize, or should any of the parties’ assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You should not place undue reliance on any forward-looking statements and should not make an investment decision based solely on these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

ITEM 1. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

Overview

Arrived Homes 5, LLC, a Delaware series limited liability company, was formed in July 2024 to permit public investment in specific single-family rental homes. We believe people should have the freedom to move to pursue new opportunities in their lives while still having access to the wealth creation that long-term home ownership and real estate investment can provide. To support this idea, we are building what we believe to be a new model for home ownership and real estate investment that doesn’t lock people into a single home or city. We believe in passive income, conservative debt, freedom to move, diversification, and aligned incentives.

Arrived is a marketplace for investing in homes. We buy single-family homes, lease them, divide them into multiple interests, and offer them as investments on a per-interest basis through our web-based platform. Investors can manage their risk by spreading their investments across a portfolio of homes, they can invest in real estate without needing to apply for mortgages or take on personal debt, and they can move to new homes or cities and continue holding their Arrived investments without having to worry about selling homes they’re invested in.

Arrived does all of the work of sourcing, analyzing, maintaining, and managing all of the homes that we acquire. We analyze every home investment across several financial, market, and demographic characteristics to support our acquisition decision-making. Every investment we make is an investment in the communities in which Arrived operates, alongside other like-minded individuals. As our community network grows, so does our access to investment and housing opportunities.

Arrived rents the homes we acquire to tenants who can also invest through the same process as any other member of the Arrived platform, becoming part owners of the homes they’re living in at that time. By investing together, we align incentives towards creating value for everyone.

Since its formation in July 2024, our company has been engaged primarily in acquiring properties for its series offerings, developing the financial, offering and other materials to facilitate fundraising, and taking the steps necessary to effectuate the series offerings and the management of the associated series properties. As of June 30, 2026, our company has acquired 73 properties.

Risk Factors

We face risks and uncertainties that could affect us and our business as well as the real estate industry generally. These risks are outlined under the heading “Risk Factors” beginning on page 16 in our Offering Circular, which may be accessed here, as the same may be updated from time to time by our future filings under Regulation A (“Regulation A”) of the Securities Act of 1933 (the “Securities Act”). In addition, new risks may emerge at any time and we cannot predict such risks or estimate the extent to which they may affect our financial performance. These risks could result in a decrease in the value of the membership interests in each of the series of our company.

Emerging Growth Company

While we currently have no intention of making such an election, we may elect to become a public reporting company under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). If we elect to do so, we will be required to publicly report on an ongoing basis as an emerging growth company, as defined in the JOBS Act, under the reporting rules set forth under the Exchange Act. For so long as we remain an emerging growth company, we may take advantage of certain exemptions from various reporting requirements that are applicable to other Exchange Act reporting companies that are not emerging growth companies, including, but not limited to:

●

not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act;

●

being permitted to comply with reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements; and

●

being exempt from the requirement to hold a non-binding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.

In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We may elect to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

We would expect to take advantage of these reporting exemptions until we are no longer an emerging growth company. We would remain an emerging growth company for up to five years, or until the earliest of (i) the last day of the first fiscal year in which our total annual gross revenues exceed $1 billion; (ii) the date that we become a large accelerated filer as defined in Rule 12b-2 under the Exchange Act, which would occur if the market value of our series interests that is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter; or (iii) the date on which we have issued more than $1 billion in non-convertible debt during the preceding three-year period.

Distributions

In order to qualify as a REIT, a series must distribute annually to investors at least 90% of its REIT taxable income (computed without regard to the dividends paid deduction and excluding net capital gain), and to avoid federal income and excise taxes on retained taxable income and gains it must distribute 100% of such income and gains annually. Our manager may authorize distributions in excess of those required for us to maintain our REIT status and/or avoid such taxes on retained taxable income and gains depending on our financial condition and such other factors as our manager deems relevant.

Our company expects the manager to make distributions of any free cash flow on a monthly or other periodic basis as determined by the manager. However, the manager may change the timing of distributions in its sole discretion. Investors will be required to update their personal information on a regular basis to make sure they receive all allocated distributions. We will utilize a “mobile wallet” feature for payment of distributions (the “Arrived Homes Wallet”). The Arrived Homes Wallet will be used to allow investors to pay for subscriptions, receive distributions and reinvest distributions.

Any distributions that we make directly impact the NAV for each of our series, by reducing the amount of our assets. Our goal is to provide a reasonably predictable and stable level of current income, through monthly or other periodic distributions, while at the same time maintaining a fair level of consistency in our NAV for each series. Over the course of your investment, your distributions plus the change in NAV per interest (either positive or negative) will produce your total return.

During the six months ended June 30, 2026 and 2025, distributions to investors were made by 60 and 8 series, respectively, totaling $511,537 and $28,607, respectively. For further details, please see Note 6, Members’ Equity (Deficit) – Distributions in our financial statements.

Critical Accounting Policies

Our accounting policies will conform with GAAP. The preparation of financial statements in conformity with GAAP will require us to use judgment in the application of accounting policies, including making estimates and assumptions. These judgments may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. We intend to make these estimates and assumptions in an appropriate manner and in a way that accurately reflects our financial condition. We will continually test and evaluate our estimates and assumptions using our historical knowledge of the business, as well as other factors, to ensure that they are reasonable for reporting purposes. However, actual results may differ from our estimates and assumptions.

We believe our critical accounting policies govern the significant judgments and estimates used in the preparation of our financial statements. Please refer to Note 2, Summary of Significant Accounting Policies, included in the financial statements, for a more thorough discussion of our accounting policies and procedures.

Operating Results

Rental Income

Revenues are generated at the series level and are derived from leases on the series property. The increase in rental revenue is primarily due to an increase in the number of properties acquired by the Company. All revenues generated during the six months ended June 30, 2026 and 2025 are listed in the table below:

Rental Income

Series Name	June 30, 2026		June 30, 2025
Adela	$	10,800	$	-
Adler		12,720		3,039
Alex		12,720		790
Ameris		6,183		4,186
Arbolado		12,720		-
Arthur		13,494		-
Ashland		14,370		-
Belleglade		15,270		4,072
Blair		11,970		-
Briarmanor		15,870		-
Caldwell		8,215		-
Camila		13,770		-
Camphor		10,470		2,501
Chadwick		383		-
Chalkstone		6,952		-
Chesterton		17,330		-
Chloe		8,778		-
Clark		13,365		7,753
Cyrus		10,559		-
Evie		10,920		243
Farinosa		3,137		-
Fizzy		13,320		-
Fortress		14,670		3,342
Galleta		10,170		-
Gavin		10,519		-
Gerardo		14,070		1,407
Goldfinger		14,970		3,244
Goshen		8,551		-
Gracianna		13,170		-
Haynes		3,912		-
Hendricks		12,270		1,704
Kanan		2,305		-
Kitsune		8,568		-
Lancer		-		-
Lenka		14,970		6,071
Liam		17,670		7,559
Lilinoe		15,708		2,768
Lois		13,527		11,225
Lucky		8,534		-
Marilyn		13,770		-
Metcalf		13,470		3,742
Monroe		12,540		-
Nathan		8,070		-
Orland		6,399		-
Ozark		2,863		-
Parker		10,146		-
Poshington		14,520		-
Preston		-		-
Pumpkin		13,920		9,125
Raider		17,970		-
Rivendell		8,520		-
Rosalee		-		-
Rucker		9,580		-
Sambino		13,170		10,082
Sandpiper		11,370		-
Scarlett		14,070		469
Sinalda		13,170		805
Stonemill		13,795		-
Targaryen		16,170		4,132
Terrien		15,720		-
Tilly		13,170		-
Troncos		11,670		5,835
Tully		16,410		-
Tyrell		12,570		2,793
Vega		13,470		2,395
Wasilla		14,970		-
Wendover		14,970		-
Wesley		11,520		-
Whippoorwill		15,120		-
Wildcat		14,070		-
William		13,050		-
Windgate		12,570		2,724
Wyndsong		8,780		-
	$	828,472	$	102,005

Operating Expenses

The Company incurred the following operating expenses during the six months ended June 30, 2026 and 2025. The operating expenses incurred prior to the closing of an offering related to any of the series are being paid by our manager and are reimbursed by such series out of the gross offering proceeds upon closing of the relevant series offering. Such operating expenses include real estate taxes, property insurance, home ownership association fees and repairs and maintenance costs. Upon closing, each series becomes responsible for its own operating expenses.

The following table summarizes the total operating expenses by series for the six months ended June 30, 2026 and 2025:

Operating Expenses

	June 30, 2026						June 30, 2025
Series Name	Operating expenses		Depreciation		Total expenses		Operating expenses		Depreciation		Total expenses
Adela	$	5,031	$	3,231	$	8,262	$	11,958	$	538	$	12,496
Adler		5,820		4,908		10,728		9,503		818		10,321
Alex		3,392		4,765		8,157		9,481		2,383		11,864
Ameris		7,522		3,452		10,974		17,237		1,151		18,388
Arbolado		8,125		4,648		12,773		7,751		775		8,526
Arthur		12,904		5,789		18,692		-		-		-
Ashland		4,776		4,744		9,520		-		-		-
Belleglade		6,144		5,162		11,306		10,382		1,721		12,102
Blair		8,708		4,795		13,504		10,536		-		10,536
Briarmanor		5,662		6,464		12,126		4,003		335		4,338
Caldwell		9,625		3,942		13,568		-		-		-
Camila		8,100		6,752		14,852		-		-		-
Camphor		3,523		4,315		7,838		14,308		2,272		16,580
Chadwick		7,516		-		7,516		-		-		-
Chalkstone		8,844		6,603		15,447		-		-		-
Chesterton		7,861		7,364		15,225		416		-		416
Chloe		7,646		4,379		12,025		-		-		-
Clark		5,708		4,369		10,077		12,576		4,369		16,945
Cyrus		8,612		5,348		13,960		3,641		891		4,533
Evie		4,467		3,555		8,022		15,954		-		15,954
Farinosa		13,744		4,978		18,722		-		-		-
Fizzy		7,840		5,061		12,901		-		-		-
Fortress		5,118		5,732		10,850		18,306		2,044		20,350
Galleta		1,549		4,014		5,563		1,004		-		1,004
Gavin		14,855		5,750		20,604		-		-		-
Gerardo		5,536		5,082		10,618		4,389		-		4,389
Goldfinger		5,532		7,461		12,993		16,125		4,974		21,099
Goshen		7,183		6,177		13,361		-		-		-
Gracianna		10,317		5,122		15,438		-		-		-
Haynes		7,567		1,610		9,177		-		-		-
Hendricks		5,267		3,408		8,675		11,628		-		11,628
Kanan		9,129		1,692		10,821		-		-		-
Kitsune		10,724		4,967		15,691		-		-		-
Lancer		8,702		2,885		11,588		-		-		-
Lenka		5,514		4,551		10,065		13,045		2,276		15,321
Liam		6,372		5,946		12,318		21,867		2,973		24,840
Lilinoe		7,301		5,132		12,434		9,990		855		10,845
Lois		4,422		4,550		8,972		7,881		4,550		12,432
Lucky		6,316		5,217		11,533		-		-		-
Marilyn		5,397		4,951		10,349		651		-		651
Metcalf		5,245		4,721		9,966		8,855		961		9,816
Monroe		5,778		4,961		10,739		651		-		651
Nathan		2,577		2,473		5,050		5,723		-		5,723
Orland		6,174		4,598		10,772		-		-		-
Ozark		8,849		1,427		10,276		-		-		-
Parker		18,283		6,693		24,975		-		-		-
Poshington		6,223		5,977		12,200		1,602		-		1,602
Preston		11,407		1,086		12,492		-		-		-
Pumpkin		4,738		4,504		9,242		13,895		3,003		16,898
Raider		10,090		5,442		15,532		572		-		572
Rivendell		12,526		3,283		15,809		-		-		-
Rosalee		6,530		1,944		8,474		-		-		-
Rucker		6,066		5,593		11,659		-		-		-
Sambino		5,727		4,141		9,868		13,349		3,451		16,800
Sandpiper		5,435		5,347		10,782		1,232		-		1,232
Scarlett		17,398		5,996		23,394		12,306		999		13,305
Sinalda		3,663		5,315		8,978		12,737		2,657		15,395
Stonemill		5,520		5,342		10,862		11,463		-		11,463
Targaryen		7,711		5,352		13,063		7,570		892		8,462
Terrien		9,025		5,713		14,738		-		-		-
Tilly		4,668		4,826		9,493		8,355		897		9,252
Troncos		4,492		4,795		9,287		12,023		3,197		15,220
Tully		3,500		6,576		10,075		10,360		2,192		12,552
Tyrell		4,172		4,437		8,610		8,534		1,479		10,013
Vega		7,521		5,348		12,869		7,102		891		7,994
Wasilla		6,582		6,508		13,090		9,181		2,317		11,498
Wendover		6,101		5,155		11,256		3,625		-		3,625
Wesley		5,241		3,581		8,822		-		-		-
Whippoorwill		5,728		5,134		10,862		6,692		-		6,692
Wildcat		4,547		4,417		8,965		-		-		-
William		9,736		4,563		14,298		-		-		-
Windgate		4,840		4,170		9,010		10,676		695		11,371
Wyndsong		5,951		4,908		10,859		18,328		-		18,328
	$	520,412	$	343,197	$	863,609	$	417,466	$	56,556	$	474,021

Other Expenses

During the six months ended June 30, 2026 and 2025, certain series incurred interest expenses, including bridge financing interest. The following table summarizes the total of such expenses incurred by each series during the six months ended June 30, 2026 and 2025. Interest expense decreased from $170,907 for the six months ended June 30, 2025 to $167,290 for the six months ended June 30, 2026. This decrease is primarily attributable to fewer series carrying bridge financing during the period, as series that closed their offerings repaid their bridge financing, partially offset by interest on bridge financing used to fund the seven property acquisitions completed in 2026.

Net loss decreased from $542,924 for the six months ended June 30, 2025 to $202,427 for the six months ended June 30, 2026, an improvement of approximately 63%. This improvement was primarily driven by the growth in rental income as the Company’s property portfolio expanded, partially offset by a corresponding increase in operating expenses, including depreciation, associated with the additional properties acquired.

OTHER EXPENSES

Series Name	June 30, 2026		June 30, 2025
Adela	$	-	$	2,713
Adler		-		5,315
Alex		-		3,594
Ameris		-		4,667
Arbolado		-		3,894
Arthur		6,412		-
Ashland		-		-
Belleglade		-		4,361
Blair		2,241		3,297
Briarmanor		-		3,774
Caldwell		5,569		-
Camila		2,705		-
Camphor		-		4,344
Chadwick		3,208		-
Chalkstone		11,730		-
Chesterton		-		1,199
Chloe		7,386		-
Clark		-		1,044
Cyrus		-		5,971
Evie		-		1,821
Farinosa		10,221		-
Fizzy		-		-
Fortress		-		7,315
Galleta		-		348
Gavin		8,611		-
Gerardo		-		2,979
Goldfinger		-		5,168
Goshen		12,088		-
Gracianna		1,666		-
Haynes		5,698		-
Hendricks		-		2,054
Kanan		6,084		-
Kitsune		10,930		-
Lancer		8,892		-
Lenka		-		3,677
Liam		-		6,822
Lilinoe		-		5,468
Lois		-		-
Lucky		11,602		-
Marilyn		-		1,687
Metcalf		-		1,748
Monroe		-		1,687
Nathan		-		1,482
Orland		10,336		-
Ozark		5,678		-
Parker		10,619		-
Poshington		-		2,210
Preston		3,900		-
Pumpkin		-		3,728
Raider		-		1,297
Rivendell		264		-
Rosalee		7,124		-
Rucker		12,261		-
Sambino		-		3,230
Sandpiper		-		268
Scarlett		-		7,280
Sinalda		-		5,453
Stonemill		-		3,674
Targaryen		-		5,549
Terrien		-		-
Tilly		-		3,544
Troncos		-		10,252
Tully		-		8,886
Tyrell		-		5,558
Vega		-		5,396
Wasilla		-		7,738
Wendover		-		2,185
Wesley		-		-
Whippoorwill		-		3,068
Wildcat		-		-
William		2,067		-
Windgate		-		3,070
Wyndsong		-		2,093
	$	167,290	$	170,907

Liquidity and Capital Resources

From inception, our manager has financed the business activities of each series. Upon the first closing of a particular series offering, the manager is reimbursed out of the proceeds of the relevant offering. Until such time as the series have the capacity to generate cash flows from operations, our manager may cover any deficits through capital contributions, which may be reimbursed upon closing of the relevant offering.

As discussed in Note 3 to the consolidated financial statements, the Company’s ability to continue as a going concern is dependent upon the ability to generate cash flow from rental activities and/or obtain financing from the manager. Management believes that the continued support of the manager, the planned launch of additional series offerings, and the cash generated from rental operations will provide sufficient liquidity to meet the Company’s obligations. However, there can be no assurance that these plans will be successful.

As of June 30, 2026, the Company’s material capital commitments consisted primarily of $4,488,768 in outstanding bridge financing, related party, which the Company anticipates satisfying from the proceeds of future series offerings and/or refinancing, as further described in Note 5 to the financial statements. Net proceeds from the closing of series offerings totaled $4,203,963 for the six months ended June 30, 2026, compared to $8,611,974 for the six months ended June 30, 2025, a decrease of approximately 51%, which primarily reflects the timing of offering closings between the two periods.

Cash and Cash Equivalents

Cash is held at the series level. Any material differences in cash balances are the result of cash received from net proceeds from operations, financing received from the issuance of membership interests from each series, and receipts and/or repayments of amounts due to related parties.

The following table summarizes the cash and cash equivalents by series as of June 30, 2026 and December 31, 2025:

Cash & Cash Equivalents

Series Name	June 30, 2026		December 31, 2025
Adela	$	13,168	$	11,889
Adler		29,475		28,657
Alex		22,974		24,582
Ameris		14,431		12,360
Arbolado		18,808		21,870
Arthur		19,192		-
Ashland		21,207		22,920
Belleglade		25,673		23,574
Blair		21,694		8,474
Briarmanor		24,389		25,595
Caldwell		27,785		-
Camila		22,108		6,067
Camphor		8,406		9,075
Chadwick		-		-
Chalkstone		8,495		-
Chesterton		28,456		29,396
Chloe		75,688		-
Clark		13,705		10,711
Cyrus		21,434		25,719
Evie		7,722		9,070
Farinosa		199		-
Fizzy		23,100		27,842
Fortress		17,127		18,995
Galleta		24,710		24,285
Gavin		17,390		-
Gerardo		22,828		25,821
Goldfinger		32,685		33,424
Goshen		257,563		-
Gracianna		14,723		-
Haynes		336		-
Hendricks		17,460		18,831
Kanan		-		-
Kitsune		38,738		-
Lancer		72		-
Lenka		18,316		17,307
Liam		20,315		18,887
Lilinoe		24,319		27,612
Lois		13,973		13,807
Lucky		4,307		-
Marilyn		25,497		27,116
Metcalf		19,037		21,624
Monroe		17,182		17,621
Nathan		11,495		11,052
Orland		2,185		-
Ozark		-		-
Parker		18,154		-
Poshington		31,742		44,001
Preston		819		-
Pumpkin		20,744		23,269
Raider		24,461		25,748
Rivendell		9,650		-
Rosalee		-		-
Rucker		7,265		-
Sambino		12,437		13,382
Sandpiper		31,209		30,985
Scarlett		18,767		22,733
Sinalda		24,479		22,173
Stonemill		23,725		20,403
Targaryen		25,489		26,626
Terrien		18,822		24,162
Tilly		14,194		14,515
Troncos		23,845		23,826
Tully		32,319		31,158
Tyrell		25,040		27,017
Vega		27,020		30,227
Wasilla		26,281		27,566
Wendover		23,601		21,765
Wesley		14,527		14,087
Whippoorwill		22,100		25,111
Wildcat		19,048		20,748
William		25,768		-
Windgate		20,196		22,600
Wyndsong		21,213		23,052
	$	1,611,276	$	1,109,334

Plan of Operations

We intend to hold and manage the series properties for five to seven years, during which time we will operate the series properties as single-family rental income properties. During this period, we intend to distribute any free cash flow to investors.

As each of our properties reaches what we believe to be its optimum value, we will consider disposing of the property. The determination of when a particular property should be sold or otherwise disposed of will be made after consideration of relevant factors, including prevailing and projected economic conditions, whether the value of the property is anticipated to appreciate or decline substantially, local regulatory changes, environmental and other factors that may reduce the desirability of single-family rentals in a particular market, and how operating history may impact the potential sales price. The manager may determine that it is in the best interests of members to sell a property earlier than five years or to hold a property for more than seven years.

As of the current date, we do not know how many series we will be offering. However, in any case, the aggregate dollar amount of all of the series interests that we will sell within the 12-month period will not exceed the maximum amount allowed under Regulation A. It is anticipated that the proceeds from any offerings closed during the next twelve months will be used to acquire additional properties.

Our Policies for Approving New Tenants

We intend to seek out tenants for our properties who are financially responsible and capable of paying their rent. We will conduct due diligence on prospective tenant applicants by (a) verifying their incomes, (b) running credit checks, (c) performing criminal background checks, and (d) requesting references from previous landlords. While we do not have specific standards for any of these items, we will use these screening methods to determine, prior to approving a lease, whether we believe a potential lessee is financially responsible.

Trend Information

Our results of operations are affected by a variety of factors, including conditions in the financial markets and the economic and political environments, particularly in the United States. Global economic conditions, including political environments, financial market performance, interest rates, credit spreads or other conditions beyond our control are unpredictable and could negatively affect the value of the series properties, our ability to acquire and manage single-family rentals and the success of our current and future offerings. In addition to the aforementioned macroeconomic trends, we believe the following factors will influence our future performance:

Elevated interest rates or fluctuations in interest rates may have a negative effect on the demand for our offerings due to the attractiveness of alternative investments.

The continuing increase in prices in the United States housing market may result in difficulties in sourcing properties and meeting demand for our offerings.

Sustained levels of remote and hybrid work arrangements may lead to greater rental activity in our target markets.

ITEM 2. OTHER INFORMATION

None.

ITEM 3. FINANCIAL STATEMENTS

ARRIVED HOMES 5, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS

AS OF AND FOR THE SIX MONTHS ENDED JUNE 30, 2026 AND 2025

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2026 (UNAUDITED)	F-2
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2025 (DERIVED FROM AUDITED FINANCIAL STATEMENTS)	F-13
CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS FOR THE SIX MONTHS ENDED JUNE 30, 2026 (UNAUDITED)	F-23
CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS FOR THE SIX MONTHS ENDED JUNE 30, 2025 (UNAUDITED)	F-34
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) FOR THE SIX MONTHS ENDED JUNE 30, 2026 (UNAUDITED)	F-41
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) FOR THE SIX MONTHS ENDED JUNE 30, 2025 (UNAUDITED)	F-50
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2026 (UNAUDITED)	F-56
CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2025 (UNAUDITED)	F-69
NOTES TO THE UNAUDITED CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS	F-77

F-1

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)

AS OF JUNE 30, 2026

	Adela			Adler			Alex			Ameris			Arbolado			Arthur			Ashland
ASSETS
Current assets:
Cash	$	13,168		$	29,475		$	22,974		$	14,431		$	18,808		$	19,192		$	21,207
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		1,754			890			1,125			1,755			899			1,079			1,138
Due from related parties		-			-			-			-			-			-			-
Due from third party property manager		5,570			4,200			4,375			3,182			4,010			4,892			4,720
Total current assets		20,492			34,564			28,474			19,368			23,717			25,163			27,065
Property and equipment, net		229,969			350,547			337,337			245,078			330,587			417,580			338,970
Total assets	$	250,460		$	385,111		$	365,811		$	264,446		$	354,305		$	442,742		$	366,035

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,570		$	6,878		$	1,659		$	2,658		$	2,959		$	483		$	2,287
Due to related parties		3,774			3,675			4,242			4,118			3,048			6,052			3,195
Total current liabilities		6,344			10,554			5,901			6,776			6,007			6,535			5,482
Tenant deposits		4,000			2,345			2,345			1,750			2,345			2,595			2,395
Bridge financing, related party		-			-			-			-			-			-			-
Total liabilities		10,344			12,899			8,246			8,526			8,352			9,130			7,877
Members’ equity (deficit)
Members’ capital		254,549			382,269			365,040			271,463			365,911			465,905			366,308
Accumulated deficit		(14,432	)		(10,057	)		(7,475	)		(15,543	)		(19,958	)		(32,293	)		(8,150	)
Total members’ equity (deficit)		240,117			372,213			357,565			255,920			345,953			433,612			358,158
Total liabilities and members’ equity (deficit)	$	250,460		$	385,111		$	365,811		$	264,446		$	354,305		$	442,742		$	366,035

See the accompanying notes to the consolidated and consolidating financial statements.

F-2

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)

AS OF JUNE 30, 2026

	Belleglade			Blair			Briarmanor			Caldwell			Camila			Camphor			Chadwick
ASSETS
Current assets:
Cash	$	25,673		$	21,694		$	24,389		$	27,785		$	22,108		$	8,406		$	-
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		1,197			936			1,202			1,051			1,167			990			-
Due from related parties		-			-			-			-			-			-			-
Due from third party property manager		5,438			3,956			5,482			3,917			4,482			3,502			719
Total current assets		32,308			26,587			31,072			32,753			27,757			12,897			719
Property and equipment, net		365,596			341,645			397,049			285,676			373,733			261,735			340,343
Total assets	$	397,904		$	368,231		$	428,121		$	318,429		$	401,490		$	274,632		$	341,062

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	3,438		$	2,562		$	3,410		$	2,867		$	5,023		$	1,634		$	5,647
Due to related parties		4,372			2,788			3,762			4,213			10,315			3,418			20,461
Total current liabilities		7,810			5,350			7,172			7,081			15,337			5,051			26,108
Tenant deposits		2,995			1,995			3,095			2,245			2,295			1,745			2,295
Bridge financing, related party		-			-			-			-			-			-			323,000
Total liabilities		10,805			7,345			10,267			9,326			17,632			6,796			351,403
Members’ equity (deficit)
Members’ capital		393,215			392,966			437,660			328,668			420,032			279,333			-
Accumulated deficit		(6,116	)		(32,080	)		(19,806	)		(19,565	)		(36,175	)		(11,497	)		(10,341	)
Total members’ equity (deficit)		387,100			360,886			417,854			309,103			383,857			267,836			(10,341	)
Total liabilities and members’ equity (deficit)	$	397,904		$	368,231		$	428,121		$	318,429		$	401,490		$	274,632		$	341,062

See the accompanying notes to the consolidated and consolidating financial statements.

F-3

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)

AS OF JUNE 30, 2026

	Chalkstone			Chesterton			Chloe			Clark			Cyrus			Evie			Farinosa
ASSETS
Current assets:
Cash	$	8,495		$	28,456		$	75,688		$	13,705		$	21,434		$	7,722		$	199
Other receivables		-			1,793			-			-			-			-			-
Prepaid expenses		1,262			973			995			954			909			950			1,218
Due from related parties		-			-			-			-			-			-			-
Due from third party property manager		3,429			5,818			3,806			3,740			3,311			3,756			4,256
Total current assets		13,186			37,041			80,488			18,398			25,654			12,429			5,673
Property and equipment, net		391,132			526,018			315,744			308,221			380,403			253,166			332,855
Total assets	$	404,318		$	563,058		$	396,232		$	326,619		$	406,057		$	265,594		$	338,528

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	18,888		$	1,266		$	16,767		$	5,512		$	2,487		$	1,682		$	16,243
Due to related parties		52,355			4,000			27,211			3,976			3,281			2,929			31,413
Total current liabilities		71,243			5,266			43,978			9,488			5,768			4,611			47,655
Tenant deposits		2,545			2,895			1,995			1,995			1,795			2,045			2,295
Bridge financing, related party		365,000			-			159,000			-			-			-			318,000
Total liabilities		438,788			8,161			204,973			11,483			7,563			6,656			367,950
Members’ equity (deficit)
Members’ capital		-			584,451			215,544			342,620			424,510			273,511			-
Accumulated deficit		(34,469	)		(29,554	)		(24,284	)		(27,484	)		(26,017	)		(14,573	)		(29,423	)
Total members’ equity (deficit)		(34,469	)		554,897			191,259			315,136			398,493			258,938			(29,423	)
Total liabilities and members’ equity (deficit)	$	404,318		$	563,058		$	396,232		$	326,619		$	406,057		$	265,594		$	338,528

See the accompanying notes to the consolidated and consolidating financial statements.

F-4

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)

AS OF JUNE 30, 2026

	Fizzy			Fortress			Galleta			Gavin			Gerardo			Goldfinger			Goshen
ASSETS
Current assets:
Cash	$	23,100		$	17,127		$	24,710		$	17,390		$	22,828		$	32,685		$	257,563
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		983			1,070			900			2,603			983			1,499			1,261
Due from related parties		-			-			-			-			-			-			-
Due from third party property manager		4,158			5,232			3,320			-			5,080			4,780			3,598
Total current assets		28,241			23,430			28,929			19,993			28,891			38,964			262,422
Property and equipment, net		361,638			355,886			286,545			389,528			361,450			527,918			398,410
Total assets	$	389,879		$	379,316		$	315,474		$	409,521		$	390,341		$	566,881		$	660,832

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,307		$	2,461		$	2,890		$	4,846		$	2,477		$	2,471		$	16,150
Due to related parties		3,096			3,923			2,473			7,465			3,677			6,514			42,416
Total current liabilities		5,403			6,385			5,363			12,310			6,154			8,986			58,566
Tenant deposits		2,445			2,895			1,695			2,995			2,795			2,495			2,645
Bridge financing, related party		-			-			-			-			-			-			374,000
Total liabilities		7,848			9,280			7,058			15,305			8,949			11,481			435,211
Members’ equity (deficit)
Members’ capital		393,952			386,710			322,246			419,209			386,680			577,681			252,451
Accumulated deficit		(11,922	)		(16,674	)		(13,830	)		(24,993	)		(5,288	)		(22,280	)		(26,830	)
Total members’ equity (deficit)		382,031			370,037			308,416			394,216			381,392			555,401			225,621
Total liabilities and members’ equity (deficit)	$	389,879		$	379,316		$	315,474		$	409,521		$	390,341		$	566,881		$	660,832

See the accompanying notes to the consolidated and consolidating financial statements.

F-5

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)

AS OF JUNE 30, 2026

	Gracianna			Haynes			Hendricks			Kanan			Kitsune			Lancer			Lenka
ASSETS
Current assets:
Cash	$	14,723		$	336		$	17,460		$	-		$	38,738		$	72		$	18,316
Other receivables		-			-			-			-			34,264			-			-
Prepaid expenses		881			1,064			1,086			1,053			1,345			943			1,300
Due from related parties		-			-			-			-			-			-			-
Due from third party property manager		4,320			4,199			4,458			2,979			2,988			-			4,949
Total current assets		19,923			5,598			23,003			4,031			77,334			1,015			24,565
Property and equipment, net		334,658			351,533			243,129			369,888			358,217			366,012			321,429
Total assets	$	354,581		$	357,131		$	266,132		$	373,920		$	435,551		$	367,027		$	345,994

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	3,911		$	9,197		$	4,398		$	8,302		$	2,473		$	12,562		$	3,079
Due to related parties		8,701			27,803			3,056			26,572			50,680			32,945			4,345
Total current liabilities		12,612			37,001			7,454			34,875			53,153			45,507			7,424
Tenant deposits		2,195			2,395			2,495			2,645			2,295			-			2,495
Bridge financing, related party		-			328,699			-			351,000			-			342,000			-
Total liabilities		14,807			368,094			9,949			388,520			55,448			387,507			9,919
Members’ equity (deficit)
Members’ capital		370,734			-			268,631			-			403,675			-			340,636
Accumulated deficit		(30,960	)		(10,963	)		(12,448	)		(14,600	)		(23,572	)		(20,480	)		(4,561	)
Total members’ equity (deficit)		339,774			(10,963	)		256,183			(14,600	)		380,103			(20,480	)		336,075
Total liabilities and members’ equity (deficit)	$	354,581		$	357,131		$	266,132		$	373,920		$	435,551		$	367,027		$	345,994

See the accompanying notes to the consolidated and consolidating financial statements.

F-6

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)

AS OF JUNE 30, 2026

	Liam			Lilinoe			Lois			Lucky			Marilyn			Metcalf			Monroe
ASSETS
Current assets:
Cash	$	20,315		$	24,319		$	13,973		$	4,307		$	25,497		$	19,037		$	17,182
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		1,342			1,602			954			1,154			1,091			976			1,093
Due from related parties		-			-			-			-			-			-			-
Due from third party property manager		6,207			4,569			4,973			4,806			4,649			4,755			4,459
Total current assets		27,864			30,490			19,900			10,267			31,237			24,768			22,735
Property and equipment, net		419,682			364,899			313,087			376,741			354,476			302,097			354,959
Total assets	$	447,546		$	395,389		$	332,987		$	387,007		$	385,712		$	326,865		$	377,694

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,368		$	3,911		$	5,590		$	17,239		$	1,903		$	2,370		$	1,903
Due to related parties		7,229			4,698			4,496			31,212			4,044			3,588			3,876
Total current liabilities		8,597			8,609			10,086			48,451			5,947			5,958			5,779
Tenant deposits		3,395			2,595			2,695			2,545			2,295			2,695			2,095
Bridge financing, related party		-			-			-			361,000			-			-			-
Total liabilities		11,992			11,204			12,781			411,996			8,242			8,653			7,874
Members’ equity (deficit)
Members’ capital		447,722			394,982			328,623			-			387,009			319,226			400,989
Accumulated deficit		(12,168	)		(10,796	)		(8,417	)		(24,989	)		(9,539	)		(1,015	)		(31,169	)
Total members’ equity (deficit)		435,554			384,186			320,206			(24,989	)		377,470			318,212			369,820
Total liabilities and members’ equity (deficit)	$	447,546		$	395,389		$	332,987		$	387,007		$	385,712		$	326,865		$	377,694

See the accompanying notes to the consolidated and consolidating financial statements.

F-7

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)

AS OF JUNE 30, 2026

	Nathan			Orland			Ozark			Parker			Poshington			Preston			Pumpkin
ASSETS
Current assets:
Cash	$	11,495		$	2,185		$	-		$	18,154		$	31,742		$	819		$	20,744
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		659			1,133			1,075			1,154			1,024			776			1,123
Due from related parties		-			-			-			-			-			-			-
Due from third party property manager		3,500			6,207			4,070			4,816			4,778			-			4,466
Total current assets		15,654			9,525			5,145			24,124			37,544			1,595			26,333
Property and equipment, net		176,052			332,056			314,390			405,679			383,436			237,336			317,301
Total assets	$	191,706		$	341,580		$	319,535		$	429,803		$	420,980		$	238,931		$	343,634

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	3,130		$	13,790		$	8,265		$	1,857		$	-		$	6,378		$	2,317
Due to related parties		2,066			24,663			16,942			9,250			6,111			23,945			4,249
Total current liabilities		5,196			38,453			25,207			11,107			6,111			30,324			6,567
Tenant deposits		2,443			2,545			2,095			2,495			2,395			-			2,545
Bridge financing, related party		-			318,000			305,324			-			-			225,000			-
Total liabilities		7,639			358,998			332,626			13,602			8,506			255,324			9,112
Members’ equity (deficit)
Members’ capital		196,336			-			-			451,262			425,447			-			337,154
Accumulated deficit		(12,268	)		(17,418	)		(13,091	)		(35,061	)		(12,973	)		(16,393	)		(2,631	)
Total members’ equity (deficit)		184,068			(17,418	)		(13,091	)		416,201			412,474			(16,393	)		334,522
Total liabilities and members’ equity (deficit)	$	191,706		$	341,580		$	319,535		$	429,803		$	420,980		$	238,931		$	343,634

See the accompanying notes to the consolidated and consolidating financial statements.

F-8

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)

AS OF JUNE 30, 2026

	Raider			Rivendell			Rosalee			Rucker			Sambino			Sandpiper			Scarlett
ASSETS
Current assets:
Cash	$	24,461		$	9,650		$	-		$	7,265		$	12,437		$	31,209		$	18,767
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		1,041			644			927			1,202			1,046			915			1,029
Due from related parties		-			-			-			-			-			-			-
Due from third party property manager		5,907			2,910			-			4,640			4,388			2,065			4,844
Total current assets		31,410			13,204			927			13,106			17,870			34,189			24,640
Property and equipment, net		354,652			232,083			362,306			403,292			291,005			382,137			426,309
Total assets	$	386,062		$	245,287		$	363,233		$	416,398		$	308,876		$	416,326		$	450,949

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	3,710		$	2,558		$	10,450		$	17,599		$	2,309		$	3,418		$	9,438
Due to related parties		6,040			2,322			31,131			34,737			4,083			3,100			3,715
Total current liabilities		9,749			4,880			41,581			52,336			6,392			6,519			13,153
Tenant deposits		2,995			1,645			-			2,395			2,645			1,895			2,795
Bridge financing, related party		-			-			337,250			381,495			-			-			-
Total liabilities		12,744			6,525			378,831			436,226			9,037			8,414			15,948
Members’ equity (deficit)
Members’ capital		383,823			261,768			-			-			312,520			423,058			471,880
Accumulated deficit		(10,506	)		(23,006	)		(15,598	)		(19,827	)		(12,681	)		(15,145	)		(36,879	)
Total members’ equity (deficit)		373,317			238,762			(15,598	)		(19,827	)		299,838			407,912			435,001
Total liabilities and members’ equity (deficit)	$	386,062		$	245,287		$	363,233		$	416,398		$	308,876		$	416,326		$	450,949

See the accompanying notes to the consolidated and consolidating financial statements.

F-9

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)

AS OF JUNE 30, 2026

	Sinalda			Stonemill			Targaryen			Terrien			Tilly			Troncos			Tully
ASSETS
Current assets:
Cash	$	24,479		$	23,725		$	25,489		$	18,822		$	14,194		$	23,845		$	32,319
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		1,104			1,119			1,159			1,326			1,058			911			1,834
Due from related parties		-			-			-			-			-			-			-
Due from third party property manager		5,326			4,722			5,352			4,994			4,336			4,193			6,479
Total current assets		30,909			29,565			31,999			25,142			19,587			28,949			40,632
Property and equipment, net		376,257			380,601			381,025			408,391			307,295			338,445			466,611
Total assets	$	407,166		$	410,166		$	413,025		$	433,532		$	326,882		$	367,395		$	507,243

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	3,405		$	4,067		$	3,732		$	1,632		$	2,572		$	4,632		$	2,123
Due to related parties		4,524			3,387			5,468			3,547			3,408			3,798			6,761
Total current liabilities		7,929			7,453			9,199			5,179			5,980			8,430			8,884
Tenant deposits		3,293			2,545			2,695			2,595			2,195			2,395			3,893
Bridge financing, related party		-			-			-			-			-			-			-
Total liabilities		11,222			9,998			11,894			7,774			8,175			10,825			12,776
Members’ equity (deficit)
Members’ capital		409,266			424,547			404,368			440,786			335,996			370,689			508,398
Accumulated deficit		(13,322	)		(24,380	)		(3,238	)		(15,027	)		(17,288	)		(14,119	)		(13,931	)
Total members’ equity (deficit)		395,944			400,167			401,130			425,758			318,707			356,570			494,467
Total liabilities and members’ equity (deficit)	$	407,166		$	410,166		$	413,025		$	433,532		$	326,882		$	367,395		$	507,243

See the accompanying notes to the consolidated and consolidating financial statements.

F-10

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)

AS OF JUNE 30, 2026

	Tyrell			Vega			Wasilla			Wendover			Wesley			Whippoorwill			Wildcat
ASSETS
Current assets:
Cash	$	25,040		$	27,020		$	26,281		$	23,601		$	14,527		$	22,100		$	19,048
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		973			909			1,200			3,243			1,918			1,348			1,135
Due from related parties		-			-			-			-			-			-			-
Due from third party property manager		3,980			4,770			4,820			4,458			4,035			7,623			5,070
Total current assets		29,993			32,699			32,301			31,302			20,479			31,070			25,253
Property and equipment, net		314,072			380,403			406,426			366,946			257,817			365,348			315,593
Total assets	$	344,065		$	413,101		$	438,727		$	398,248		$	278,296		$	396,419		$	340,846

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,217		$	1,887		$	2,750		$	2,488		$	2,802		$	2,233		$	1,933
Due to related parties		3,686			3,915			4,444			6,262			3,591			4,151			3,241
Total current liabilities		5,903			5,802			7,194			8,750			6,393			6,383			5,174
Tenant deposits		2,095			2,695			2,495			2,495			2,145			5,240			2,795
Bridge financing, related party		-			-			-			-			-			-			-
Total liabilities		7,998			8,497			9,689			11,245			8,538			11,623			7,969
Members’ equity (deficit)
Members’ capital		340,138			412,046			443,549			396,892			284,073			394,541			340,361
Accumulated deficit		(4,071	)		(7,441	)		(14,510	)		(9,889	)		(14,314	)		(9,746	)		(7,483	)
Total members’ equity (deficit)		336,067			404,605			429,038			387,003			269,758			384,795			332,878
Total liabilities and members’ equity (deficit)	$	344,065		$	413,101		$	438,727		$	398,248		$	278,296		$	396,419		$	340,846

See the accompanying notes to the consolidated and consolidating financial statements.

F-11

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)

AS OF JUNE 30, 2026

	William			Windgate			Wyndsong			Consolidated
ASSETS
Current assets:
Cash	$	25,768		$	20,196		$	21,213		$	1,611,276
Other receivables		-			-			-			36,057
Prepaid expenses		1,176			899			1,141			83,827
Due from related parties		-			-			-			-
Due from third party property manager		4,336			6,052			-			304,175
Total current assets		31,280			27,147			22,354			2,035,336
Property and equipment, net		328,607			295,954			349,864			25,293,251
Total assets	$	359,887		$	323,101		$	372,219		$	27,328,587

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	5,051		$	2,495		$	3,227		$	353,194
Due to related parties		4,751			3,312			3,505			729,510
Total current liabilities		9,802			5,806			6,732			1,082,704
Tenant deposits		2,400			4,190			-			175,853
Bridge financing, related party		-			-			-			4,488,768
Total liabilities		12,202			9,996			6,732			5,747,324
Members’ equity (deficit)
Members’ capital		370,153			319,483			395,943			22,819,584
Accumulated deficit		(22,468	)		(6,378	)		(30,456	)		(1,238,320	)
Total members’ equity (deficit)		347,685			313,105			365,487			21,581,263
Total liabilities and members’ equity (deficit)	$	359,887		$	323,101		$	372,219		$	27,328,587

See the accompanying notes to the consolidated and consolidating financial statements.

F-12

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2025 (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

	Adela			Adler			Alex			Ameris			Arbolado			Arthur			Ashland
ASSETS
Current assets:
Cash	$	11,889		$	28,657		$	24,582		$	12,360		$	21,870		$	-		$	22,920
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		-			-			-			-			-			-			-
Due from related parties		-			-			-			-			-			-			-
Due from (to) third party property manager		5,475			4,388			4,502			4,921			4,402			-			4,782
Total current assets		17,364			33,045			29,084			17,280			26,272			-			27,702
Property and equipment, net		233,200			355,455			342,102			248,530			335,236			423,368			343,714
Total assets	$	250,564		$	388,500		$	371,186		$	265,811		$	361,508		$	423,368		$	371,416

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,126		$	5,519		$	3,110		$	1,125		$	3,305		$	20,676		$	4,428
Tenant deposits		4,000			2,345			2,345			-			2,345			-			2,395
Due to (from) related parties		924			1,509			1,846			1,475			929			24,375			759
Total current liabilities		6,051			9,373			7,301			2,599			6,580			45,051			7,582
Bridge financing, related party		-			-			-			-			-			399,000			-
Total liabilities		6,051			9,373			7,301			2,599			6,580			444,051			7,582
Members’ equity (deficit)
Members’ capital		261,484			391,175			375,923			273,963			374,833			-			376,833
Accumulated deficit		(16,971	)		(12,048	)		(12,038	)		(10,752	)		(19,905	)		(20,683	)		(12,999	)
Total members’ equity (deficit)		244,513			379,127			363,885			263,211			354,928			(20,683	)		363,834
Total liabilities and members’ equity (deficit)	$	250,564		$	388,500		$	371,186		$	265,811		$	361,508		$	423,368		$	371,416

See the accompanying notes to the consolidated and consolidating financial statements.

F-13

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2025 (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

	Belleglade			Blair			Briarmanor			Caldwell			Camila			Camphor			Chalkstone
ASSETS
Current assets:
Cash	$	23,574		$	8,474		$	25,595		$	-		$	6,067		$	9,075		$	-
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		-			-			-			-			-			-			-
Due from related parties		-			-			-			-			-			-			-
Due from (to) third party property manager		5,582			3,929			5,697			-			4,530			3,356			-
Total current assets		29,156			12,403			31,291			-			10,597			12,431			-
Property and equipment, net		370,758			346,440			403,513			289,618			380,485			266,050			397,735
Total assets	$	399,914		$	358,843		$	434,804		$	289,618		$	391,081		$	278,481		$	397,735

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,512		$	17,328		$	2,024		$	7,130		$	14,864		$	1,448		$	30,602
Tenant deposits		2,995			1,995			3,095			-			2,295			1,745			-
Due to (from) related parties		1,819			31,170			5,421			15,760			49,635			2,068			16,377
Total current liabilities		6,326			50,492			10,540			22,890			66,795			5,261			46,979
Bridge financing, related party		-			227,000			-			275,372			356,675			-			365,000
Total liabilities		6,326			277,492			10,540			298,262			423,470			5,261			411,979
Members’ equity (deficit)
Members’ capital		403,668			109,656			447,814			-			-			287,349			-
Accumulated deficit		(10,080	)		(28,305	)		(23,550	)		(8,644	)		(32,388	)		(14,129	)		(14,244	)
Total members’ equity (deficit)		393,588			81,350			424,264			(8,644	)		(32,388	)		273,220			(14,244	)
Total liabilities and members’ equity (deficit)	$	399,914		$	358,843		$	434,804		$	289,618		$	391,081		$	278,481		$	397,735

See the accompanying notes to the consolidated and consolidating financial statements.

F-14

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2025 (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

	Chesterton			Chloe			Clark			Cyrus			Evie			Farinosa			Fizzy
ASSETS
Current assets:
Cash	$	29,396		$	-		$	10,711		$	25,719		$	9,070		$	-		$	27,842
Other receivables		1,793			-			-			-			-			-			-
Prepaid expenses		-			-			-			-			-			-			-
Due from related parties		-			-			-			-			-			-			-
Due from (to) third party property manager		4,585			-			4,003			3,596			3,817			-			4,526
Total current assets		35,774			-			14,714			29,314			12,887			-			32,368
Property and equipment, net		533,382			320,123			312,590			385,751			256,721			332,333			366,699
Total assets	$	569,156		$	320,123		$	327,304		$	415,065		$	269,607		$	332,333		$	399,067

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	247		$	8,786		$	5,541		$	2,809		$	1,465		$	3,166		$	4,172
Tenant deposits		2,895			-			2,095			1,795			2,045			-			2,445
Due to (from) related parties		1,019			20,989			1,817			980			1,811			14,783			765
Total current liabilities		4,161			29,774			9,453			5,584			5,321			17,949			7,382
Bridge financing, related party		-			304,000			-			-			-			318,000			-
Total liabilities		4,161			333,774			9,453			5,584			5,321			335,949			7,382
Members’ equity (deficit)
Members’ capital		596,654			-			348,622			432,097			281,757			-			404,026
Accumulated deficit		(31,659	)		(13,651	)		(30,771	)		(22,617	)		(17,471	)		(3,617	)		(12,341	)
Total members’ equity (deficit)		564,995			(13,651	)		317,851			409,480			264,286			(3,617	)		391,685
Total liabilities and members’ equity (deficit)	$	569,156		$	320,123		$	327,304		$	415,065		$	269,607		$	332,333		$	399,067

See the accompanying notes to the consolidated and consolidating financial statements.

F-15

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2025 (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

	Fortress			Galleta			Gavin			Gerardo			Goldfinger			Goshen			Gracianna
ASSETS
Current assets:
Cash	$	18,995		$	24,285		$	-		$	25,821		$	33,424		$	-		$	-
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		-			-			-			-			-			-			-
Due from related parties		-			-			-			-			-			-			-
Due from (to) third party property manager		5,132			3,320			-			5,145			3,699			-			4,129
Total current assets		24,127			27,605			-			30,966			37,123			-			4,129
Property and equipment, net		361,619			290,558			388,152			366,532			535,379			404,587			339,779
Total assets	$	385,746		$	318,163		$	388,152		$	397,498		$	572,502		$	404,587		$	343,909

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	4,270		$	4,898		$	10,571		$	4,431		$	3,534		$	16,465		$	13,160
Tenant deposits		2,895			1,695			-			2,795			2,495			-			2,195
Due to (from) related parties		1,561			423			22,878			1,390			3,009			24,055			37,580
Total current liabilities		8,726			7,016			33,448			8,616			9,037			40,519			52,935
Bridge financing, related party		-			-			361,000			-			-			374,000			318,000
Total liabilities		8,726			7,016			394,448			8,616			9,037			414,519			370,935
Members’ equity (deficit)
Members’ capital		397,513			329,585			-			397,621			587,722			-			-
Accumulated deficit		(20,493	)		(18,438	)		(6,297	)		(8,740	)		(24,258	)		(9,932	)		(27,026	)
Total members’ equity (deficit)		377,020			311,147			(6,297	)		388,881			563,464			(9,932	)		(27,026	)
Total liabilities and members’ equity (deficit)	$	385,746		$	318,163		$	388,152		$	397,498		$	572,502		$	404,587		$	343,909

See the accompanying notes to the consolidated and consolidating financial statements.

F-16

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2025 (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

	Hendricks			Kitsune			Lenka			Liam			Lilinoe			Lois			Lucky
ASSETS
Current assets:
Cash	$	18,831		$	-		$	17,307		$	18,887		$	27,612		$	13,807		$	-
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		-			-			-			-			-			-			-
Due from related parties		-			-			-			-			-			-			-
Due from (to) third party property manager		4,611			-			4,371			6,239			5,239			5,013			-
Total current assets		23,442			-			21,678			25,126			32,851			18,820			-
Property and equipment, net		246,537			363,184			325,980			425,628			370,031			317,637			381,958
Total assets	$	269,979		$	363,184		$	347,657		$	450,754		$	402,883		$	336,457		$	381,958

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	3,991		$	4,908		$	1,302		$	1,875		$	2,126		$	5,541		$	9,738
Tenant deposits		2,495			-			2,495			3,395			2,595			2,695			-
Due to (from) related parties		987			21,795			1,744			2,266			6,929			2,368			21,607
Total current liabilities		7,473			26,703			5,541			7,536			11,650			10,604			31,345
Bridge financing, related party		-			342,000			-			-			-			-			361,000
Total liabilities		7,473			368,703			5,541			7,536			11,650			10,604			392,345
Members’ equity (deficit)
Members’ capital		278,548			-			351,582			460,737			405,303			338,825			-
Accumulated deficit		(16,042	)		(5,519	)		(9,465	)		(17,519	)		(14,070	)		(12,971	)		(10,387	)
Total members’ equity (deficit)		262,506			(5,519	)		342,116			443,218			391,233			325,853			(10,387	)
Total liabilities and members’ equity (deficit)	$	269,979		$	363,184		$	347,657		$	450,754		$	402,883		$	336,457		$	381,958

See the accompanying notes to the consolidated and consolidating financial statements.

F-17

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2025 (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

	Marilyn			Metcalf			Monroe			Nathan			Orland			Parker			Poshington
ASSETS
Current assets:
Cash	$	27,116		$	21,624		$	17,621		$	11,052		$	-		$	-		$	44,001
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		-			-			-			-			-			-			-
Due from related parties		-			-			-			-			-			-			-
Due from (to) third party property manager		4,315			4,876			2,980			3,791			-			-			4,745
Total current assets		31,430			26,499			20,602			14,843			-			-			48,746
Property and equipment, net		359,427			306,818			359,920			178,525			336,654			406,222			380,399
Total assets	$	390,858		$	333,318		$	380,521		$	193,368		$	336,654		$	406,222		$	429,145

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	3,176		$	4,010		$	3,175		$	3,995		$	2,304		$	16,537		$	2,363
Tenant deposits		2,295			2,695			2,095			2,443			-			-			2,395
Due to (from) related parties		957			1,490			645			665			19,059			22,298			1,384
Total current liabilities		6,428			8,195			5,915			7,103			21,363			38,835			6,142
Bridge financing, related party		-			-			-			-			318,000			377,000			-
Total liabilities		6,428			8,195			5,915			7,103			339,363			415,835			6,142
Members’ equity (deficit)
Members’ capital		397,390			329,641			407,576			201,553			-			-			438,296
Accumulated deficit		(12,960	)		(4,518	)		(32,970	)		(15,288	)		(2,710	)		(9,613	)		(15,293	)
Total members’ equity (deficit)		384,429			325,123			374,606			186,265			(2,710	)		(9,613	)		423,003
Total liabilities and members’ equity (deficit)	$	390,858		$	333,318		$	380,521		$	193,368		$	336,654		$	406,222		$	429,145

See the accompanying notes to the consolidated and consolidating financial statements.

F-18

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2025 (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

	Pumpkin			Raider			Rivendell			Rucker			Sambino			Sandpiper			Scarlett
ASSETS
Current assets:
Cash	$	23,269		$	25,748		$	-		$	-		$	13,382		$	30,985		$	22,733
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		-			-			-			-			-			-			-
Due from related parties		-			-			-			-			-			-			-
Due from (to) third party property manager		4,697			5,986			1,685			-			4,453			3,762			5,079
Total current assets		27,965			31,733			1,685			-			17,835			34,747			27,812
Property and equipment, net		321,805			360,094			235,366			408,886			295,146			387,484			432,306
Total assets	$	349,771		$	391,827		$	237,050		$	408,886		$	312,981		$	422,231		$	460,117

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	4,451		$	2,981		$	6,081		$	3,428		$	2,867		$	3,625		$	1,220
Tenant deposits		2,545			2,995			1,645			-			2,645			1,895			2,795
Due to (from) related parties		1,863			1,289			35,472			29,450			1,861			800			1,161
Total current liabilities		8,859			7,265			43,198			32,878			7,373			6,320			5,177
Bridge financing, related party		-			-			209,305			381,495			-			-			-
Total liabilities		8,859			7,265			252,503			414,373			7,373			6,320			5,177
Members’ equity (deficit)
Members’ capital		348,221			397,506			-			-			321,592			431,645			482,495
Accumulated deficit		(7,309	)		(12,944	)		(15,453	)		(5,487	)		(15,984	)		(15,734	)		(27,555	)
Total members’ equity (deficit)		340,912			384,562			(15,453	)		(5,487	)		305,608			415,911			454,941
Total liabilities and members’ equity (deficit)	$	349,771		$	391,827		$	237,050		$	408,886		$	312,981		$	422,231		$	460,117

See the accompanying notes to the consolidated and consolidating financial statements.

F-19

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2025 (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

	Sinalda			Stonemill			Targaryen			Terrien			Tilly			Troncos			Tully
ASSETS
Current assets:
Cash	$	22,173		$	20,403		$	26,626		$	24,162		$	14,515		$	23,826		$	31,158
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		-			-			-			-			-			-			-
Due from related parties		-			2,207			-			-			-			-			-
Due from (to) third party property manager		7,937			4,797			5,382			4,575			3,867			4,087			6,691
Total current assets		30,110			27,407			32,008			28,737			18,382			27,912			37,850
Property and equipment, net		381,572			385,942			386,377			414,103			312,120			343,241			473,187
Total assets	$	411,682		$	413,349		$	418,385		$	442,840		$	330,502		$	371,153		$	511,036

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	4,884		$	2,922		$	2,719		$	3,229		$	3,646		$	4,253		$	6,375
Tenant deposits		3,293			2,545			2,695			2,595			2,195			2,395			3,893
Due to (from) related parties		2,109			-			2,982			693			1,191			1,571			2,222
Total current liabilities		10,286			5,467			8,396			6,517			7,032			8,219			12,490
Bridge financing, related party		-			-			-			-			-			-			-
Total liabilities		10,286			5,467			8,396			6,517			7,032			8,219			12,490
Members’ equity (deficit)
Members’ capital		418,910			435,196			416,333			452,333			344,435			379,436			518,811
Accumulated deficit		(17,514	)		(27,313	)		(6,345	)		(16,010	)		(20,965	)		(16,502	)		(20,265	)
Total members’ equity (deficit)		401,396			407,882			409,989			436,323			323,470			362,934			498,546
Total liabilities and members’ equity (deficit)	$	411,682		$	413,349		$	418,385		$	442,840		$	330,502		$	371,153		$	511,036

See the accompanying notes to the consolidated and consolidating financial statements.

F-20

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2025 (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

	Tyrell			Vega			Wasilla			Wendover			Wesley			Whippoorwill			Wildcat
ASSETS
Current assets:
Cash	$	27,017		$	30,227		$	27,566		$	21,765		$	14,087		$	25,111		$	20,748
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		-			-			-			-			-			-			-
Due from related parties		-			-			-			-			-			-			-
Due from (to) third party property manager		3,667			4,870			4,920			4,807			4,017			7,097			5,070
Total current assets		30,684			35,097			32,486			26,571			18,104			32,209			25,818
Property and equipment, net		318,510			385,751			412,935			372,100			261,398			370,482			320,011
Total assets	$	349,194		$	420,848		$	445,421		$	398,672		$	279,502		$	402,691		$	345,829

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	4,199		$	2,448		$	1,343		$	1,330		$	1,815		$	3,953		$	3,528
Tenant deposits		2,095			2,695			2,495			2,495			2,145			5,240			2,795
Due to (from) related parties		1,481			1,639			1,712			1,247			1,991			1,432			875
Total current liabilities		7,776			6,782			5,550			5,072			5,951			10,625			7,199
Bridge financing, related party		-			-			-			-			-			-			-
Total liabilities		7,776			6,782			5,550			5,072			5,951			10,625			7,199
Members’ equity (deficit)
Members’ capital		349,449			422,109			456,261			407,203			290,564			406,069			351,219
Accumulated deficit		(8,031	)		(8,043	)		(16,390	)		(13,604	)		(17,012	)		(14,004	)		(12,589	)
Total members’ equity (deficit)		341,418			414,066			439,871			393,600			273,552			392,066			338,630
Total liabilities and members’ equity (deficit)	$	349,194		$	420,848		$	445,421		$	398,672		$	279,502		$	402,691		$	345,829

See the accompanying notes to the consolidated and consolidating financial statements.

F-21

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2025 (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

	William			Windgate			Wyndsong			Consolidated
ASSETS
Current assets:
Cash	$	-		$	22,600		$	23,052		$	1,109,334
Other receivables		-			-			-			1,793
Prepaid expenses		-			-			-			-
Due from related parties		-			-			-			2,207
Due from (to) third party property manager		1,393			6,221			4,334			249,089
Total current assets		1,393			28,821			27,386			1,362,424
Property and equipment, net		333,169			300,123			354,772			23,256,206
Total assets	$	334,562		$	328,944		$	382,158		$	24,618,630

LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	11,125		$	4,636		$	1,396		$	351,208
Tenant deposits		2,400			4,190			2,195			137,379
Due to (from) related parties		22,190			1,304			4,451			512,307
Total current liabilities		35,715			10,130			8,042			1,000,895
Bridge financing, related party		318,000			-			-			5,604,847
Total liabilities		353,715			10,130			8,042			6,605,742
Members’ equity (deficit)
Members’ capital		-			328,753			402,493			19,048,781
Accumulated deficit		(19,153	)		(9,939	)		(28,377	)		(1,035,893	)
Total members’ equity (deficit)		(19,153	)		318,814			374,117			18,012,888
Total liabilities and members’ equity (deficit)	$	334,562		$	328,944		$	382,158		$	24,618,630

See the accompanying notes to the consolidated and consolidating financial statements.

F-22

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Adela		Adler		Alex			Ameris			Arbolado			Arthur			Ashland

Rental income	$	10,800	$	12,720	$	12,720		$	6,183		$	12,720		$	13,494		$	14,370

Operating expenses:
Depreciation		3,231		4,908		4,765			3,452			4,648			5,789			4,744
Insurance		1,131		581		743			1,131			588			608			709
Management fees		420		457		489			406			445			632			463
Management fees, related party		1,149		1,678		1,644			968			1,618			1,528			1,761
Repairs and maintenance		-		-		-			1,109			1,049			2,121			-
Property taxes		1,296		1,573		(1,344	)		1,386			1,556			2,292			30
Other operating expenses		1,034		1,532		1,860			2,523			2,870			5,723			1,813
Total operating expenses		8,262		10,728		8,157			10,974			12,773			18,692			9,520

Income (loss) from operations		2,538		1,992		4,563			(4,791	)		(53	)		(5,198	)		4,850

Other expense (income)
Interest expense		-		-		-			-			-			6,412			-
Total other expense		-		-		-			-			-			6,412			-

Net income (loss)	$	2,538	$	1,992	$	4,563		$	(4,791	)	$	(53	)	$	(11,610	)	$	4,850

See the accompanying notes to the consolidated and consolidating financial statements.

F-23

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Belleglade		Blair			Briarmanor		Caldwell			Camila			Camphor		Chadwick

Rental income	$	15,270	$	11,970		$	15,870	$	8,215		$	13,770		$	10,470	$	383

Operating expenses:
Depreciation		5,162		4,795			6,464		3,942			6,752			4,315		-
Insurance		786		612			789		663			750			652		204
Management fees		420		490			420		710			420			420		518
Management fees, related party		1,926		1,588			2,050		798			1,786			1,213		-
Repairs and maintenance		-		375			-		565			-			-		3,652
Property taxes		2,004		1,887			1,462		1,344			1,521			353		935
Other operating expenses		1,007		3,757			941		5,546			3,623			886		2,207
Total operating expenses		11,306		13,504			12,126		13,568			14,852			7,838		7,516

Income (loss) from operations		3,964		(1,534	)		3,744		(5,353	)		(1,082	)		2,632		(7,133	)

Other expense (income)
Interest expense		-		2,241			-		5,569			2,705			-		3,208
Total other expense		-		2,241			-		5,569			2,705			-		3,208

Net income (loss)	$	3,964	$	(3,774	)	$	3,744	$	(10,922	)	$	(3,787	)	$	2,632	$	(10,341	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-24

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Chalkstone			Chesterton		Chloe			Clark		Cyrus			Evie		Farinosa

Rental income	$	6,952		$	17,330	$	8,778		$	13,365	$	10,559		$	10,920	$	3,137

Operating expenses:
Depreciation		6,603			7,364		4,379			4,369		5,348			3,555		4,978
Insurance		829			885		613			624		599			597		811
Management fees		517			452		490			515		764			420		1,122
Management fees, related party		416			2,580		998			1,668		1,599			1,231		114
Repairs and maintenance		1,103			322		745			798		489			-		4,788
Property taxes		1,297			2,529		1,570			156		1,101			417		3,550
Other operating expenses		4,683			1,092		3,230			1,948		4,060			1,802		3,359
Total operating expenses		15,447			15,225		12,025			10,077		13,960			8,022		18,722

Income (loss) from operations		(8,495	)		2,105		(3,247	)		3,288		(3,400	)		2,898		(15,585	)

Other expense (income)
Interest expense		11,730			-		7,386			-		-			-		10,221
Total other expense		11,730			-		7,386			-		-			-		10,221

Net income (loss)	$	(20,225	)	$	2,105	$	(10,633	)	$	3,288	$	(3,400	)	$	2,898	$	(25,806	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-25

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Fizzy		Fortress		Galleta			Gavin			Gerardo		Goldfinger			Goshen

Rental income	$	13,320	$	14,670	$	10,170		$	10,519		$	14,070	$	14,970		$	8,551

Operating expenses:
Depreciation		5,061		5,732		4,014			5,750			5,082		7,461			6,177
Insurance		640		701		557			1,848			624		988			770
Management fees		718		477		425			511			421		571			335
Management fees, related party		1,746		1,834		1,271			914			1,811		2,427			601
Repairs and maintenance		2,498		160		50			4,455			-		410			260
Property taxes		380		717		(1,779	)		1,873			647		(1,116	)		949
Other operating expenses		1,858		1,229		1,025			5,254			2,033		2,252			4,268
Total operating expenses		12,901		10,850		5,563			20,604			10,618		12,993			13,361

Income (loss) from operations		419		3,820		4,607			(10,085	)		3,452		1,977			(4,810	)

Other expense (income)
Interest expense		-		-		-			8,611			-		-			12,088
Total other expense		-		-		-			8,611			-		-			12,088

Net income (loss)	$	419	$	3,820	$	4,607		$	(18,696	)	$	3,452	$	1,977		$	(16,898	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-26

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Gracianna			Haynes			Hendricks		Kanan			Kitsune			Lancer			Lenka

Rental income	$	13,170		$	3,912		$	12,270	$	2,305		$	8,568		$	-		$	14,970

Operating expenses:
Depreciation		5,122			1,610			3,408		1,692			4,967			2,885			4,551
Insurance		361			403			690		401			933			518			854
Management fees		544			293			420		710			459			1,034			420
Management fees, related party		1,639			173			1,312		114			585			-			1,768
Repairs and maintenance		947			1,170			-		4,606			1,637			1,839			-
Property taxes		3,351			1,925			2,108		1,013			1,207			1,980			1,811
Other operating expenses		3,475			3,604			738		2,286			5,902			3,332			661
Total operating expenses		15,438			9,177			8,675		10,821			15,691			11,588			10,065

Income (loss) from operations		(2,268	)		(5,265	)		3,595		(8,515	)		(7,123	)		(11,588	)		4,905

Other expense (income)
Interest expense		1,666			5,698			-		6,084			10,930			8,892			-
Total other expense		1,666			5,698			-		6,084			10,930			8,892			-

Net income (loss)	$	(3,934	)	$	(10,963	)	$	3,595	$	(14,600	)	$	(18,052	)	$	(20,480	)	$	4,905

See the accompanying notes to the consolidated and consolidating financial statements.

F-27

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Liam		Lilinoe		Lois		Lucky			Marilyn		Metcalf		Monroe

Rental income	$	17,670	$	15,708	$	13,527	$	8,534		$	13,770	$	13,470	$	12,540

Operating expenses:
Depreciation		5,946		5,132		4,550		5,217			4,951		4,721		4,961
Insurance		882		1,056		624		692			706		639		708
Management fees		436		499		450		350			576		481		591
Management fees, related party		2,284		1,962		1,627		403			1,776		1,573		1,741
Repairs and maintenance		-		285		250		698			754		350		278
Property taxes		1,555		1,687		234		1,742			121		744		121
Other operating expenses		1,215		1,813		1,238		2,432			1,464		1,458		2,339
Total operating expenses		12,318		12,434		8,972		11,533			10,349		9,966		10,739

Income (loss) from operations		5,352		3,274		4,555		(2,999	)		3,421		3,504		1,801

Other expense (income)
Interest expense		-		-		-		11,602			-		-		-
Total other expense		-		-		-		11,602			-		-		-

Net income (loss)	$	5,352	$	3,274	$	4,555	$	(14,601	)	$	3,421	$	3,504	$	1,801

See the accompanying notes to the consolidated and consolidating financial statements.

F-28

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Nathan			Orland			Ozark			Parker			Poshington			Preston			Pumpkin

Rental income	$	8,070		$	6,399		$	2,863		$	10,146		$	14,520		$	-		$	13,920

Operating expenses:
Depreciation		2,473			4,598			1,427			6,693			5,977			1,086			4,504
Insurance		414			672			435			773			634			294			737
Management fees		430			442			610			1,329			2,268			786			462
Management fees, related party		766			302			98			915			1,879			-			1,673
Repairs and maintenance		100			(1,855	)		4,042			5,874			552			7,576			-
Property taxes		(546	)		1,845			1,770			2,184			(92	)		1,472			27
Other operating expenses		1,414			4,768			1,895			7,209			982			1,279			1,840
Total operating expenses		5,050			10,772			10,276			24,975			12,200			12,492			9,242

Income (loss) from operations		3,020			(4,373	)		(7,413	)		(14,829	)		2,320			(12,492	)		4,678

Other expense (income)
Interest expense		-			10,336			5,678			10,619			-			3,900			-
Total other expense		-			10,336			5,678			10,619			-			3,900			-

Net income (loss)	$	3,020		$	(14,708	)	$	(13,091	)	$	(25,448	)	$	2,320		$	(16,393	)	$	4,678

See the accompanying notes to the consolidated and consolidating financial statements.

F-29

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Raider		Rivendell			Rosalee			Rucker			Sambino		Sandpiper		Scarlett

Rental income	$	17,970	$	8,520		$	-		$	9,580		$	13,170	$	11,370	$	14,070

Operating expenses:
Depreciation		5,442		3,283			1,944			5,593			4,141		5,347		5,996
Insurance		664		266			419			778			685		569		674
Management fees		420		1,006			843			280			420		576		1,061
Management fees, related party		2,098		967			-			486			1,533		1,664		2,020
Repairs and maintenance		-		4,697			1,224			(1,373	)		-		-		3,936
Property taxes		5,843		1,176			1,953			2,618			882		96		8,370
Other operating expenses		1,066		4,414			2,091			3,276			2,206		2,531		1,337
Total operating expenses		15,532		15,809			8,474			11,659			9,868		10,782		23,394

Income (loss) from operations		2,438		(7,289	)		(8,474	)		(2,079	)		3,302		588		(9,324	)

Other expense (income)
Interest expense		-		264			7,124			12,261			-		-		-
Total other expense		-		264			7,124			12,261			-		-		-

Net income (loss)	$	2,438	$	(7,553	)	$	(15,598	)	$	(14,340	)	$	3,302	$	588	$	(9,324	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-30

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Sinalda			Stonemill		Targaryen		Terrien			Tilly		Troncos		Tully

Rental income	$	13,170		$	13,795	$	16,170	$	15,720		$	13,170	$	11,670	$	16,410

Operating expenses:
Depreciation		5,315			5,342		5,352		5,713			4,826		4,795		6,576
Insurance		730			734		760		828			693		595		1,186
Management fees		579			429		420		875			455		420		483
Management fees, related party		1,800			1,854		2,038		2,079			1,564		1,564		2,336
Repairs and maintenance		32			89		-		4,550			348		-		-
Property taxes		(1,363	)		1,258		3,574		(815	)		347		583		(2,724	)
Other operating expenses		1,885			1,157		920		1,509			1,261		1,330		2,219
Total operating expenses		8,978			10,862		13,063		14,738			9,493		9,287		10,075

Income (loss) from operations		4,192			2,933		3,107		983			3,677		2,383		6,335

Other expense (income)
Interest expense		-			-		-		-			-		-		-
Total other expense		-			-		-		-			-		-		-

Net income (loss)	$	4,192		$	2,933	$	3,107	$	983		$	3,677	$	2,383	$	6,335

See the accompanying notes to the consolidated and consolidating financial statements.

F-31

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Tyrell		Vega		Wasilla		Wendover		Wesley		Whippoorwill		Wildcat

Rental income	$	12,570	$	13,470	$	14,970	$	14,970	$	11,520	$	15,120	$	14,070

Operating expenses:
Depreciation		4,437		5,348		6,508		5,155		3,581		5,134		4,417
Insurance		636		599		788		1,981		1,183		859		707
Management fees		420		716		420		420		455		492		465
Management fees, related party		1,550		1,832		2,023		1,903		1,283		1,909		1,666
Repairs and maintenance		-		13		-		330		-		-		-
Property taxes		96		261		2,962		451		800		188		(166	)
Other operating expenses		1,471		4,100		389		1,016		1,520		2,281		1,876
Total operating expenses		8,610		12,869		13,090		11,256		8,822		10,862		8,965

Income (loss) from operations		3,960		601		1,880		3,714		2,698		4,258		5,105

Other expense (income)
Interest expense		-		-		-		-		-		-		-
Total other expense		-		-		-		-		-		-		-

Net income (loss)	$	3,960	$	601	$	1,880	$	3,714	$	2,698	$	4,258	$	5,105

See the accompanying notes to the consolidated and consolidating financial statements.

F-32

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	William			Windgate		Wyndsong			Consolidated

Rental income	$	13,050		$	12,570	$	8,780		$	828,472

Operating expenses:
Depreciation		4,563			4,170		4,908			343,197
Insurance		739			587		707			52,822
Management fees		597			468		413			41,168
Management fees, related party		1,462			1,493		1,499			100,123
Repairs and maintenance		624			137		85			68,741
Property taxes		1,953			525		1,671			85,381
Other operating expenses		4,361			1,629		1,575			172,178
Total operating expenses		14,298			9,010		10,859			863,609

Income (loss) from operations		(1,248	)		3,560		(2,079	)		(35,137	)

Other expense (income)
Interest expense		2,067			-		-			167,290
Total other expense		2,067			-		-			167,290

Net income (loss)	$	(3,315	)	$	3,560	$	(2,079	)	$	(202,427	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-33

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Adela			Adler			Alex			Ameris			Arbolado			Belleglade			Blair

Rental income	$	-		$	3,039		$	790		$	4,186		$	-		$	4,072		$	-

Operating expenses:
Depreciation		538			818			2,383			1,151			775			1,721			-
Insurance		213			329			523			304			306			450			210
Management fees		-			140			70			210			-			140			-
Management fees, related party		-			353			523			402			-			561			-
Repairs & maintenance		9,074			2,843			545			9,217			5,027			3,047			7,285
Property taxes		430			660			1,278			692			623			1,031			642
Other operating expenses		2,240			5,179			6,542			6,412			1,795			5,153			2,399
Total operating expenses		12,496			10,321			11,864			18,388			8,526			12,102			10,536

Loss from operations		(12,496	)		(7,283	)		(11,073	)		(14,202	)		(8,526	)		(8,030	)		(10,536	)

Other expense
Interest expense		2,713			5,315			3,594			4,667			3,894			4,361			3,297
Total other expense		2,713			5,315			3,594			4,667			3,894			4,361			3,297

Net loss	$	(15,209	)	$	(12,598	)	$	(14,667	)	$	(18,869	)	$	(12,420	)	$	(12,391	)	$	(13,833	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-34

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Briarmanor			Camphor			Chesterton			Clark			Cyrus			Evie			Fortress

Rental income	$	-		$	2,501		$	-		$	7,753		$	-		$	243		$	3,342

Operating expenses:
Depreciation		335			2,272			-			4,369			891			-			2,044
Insurance		240			398			161			546			352			155			432
Management fees		-			140			-			350			-			70			140
Management fees, related party		-			467			-			913			-			-			307
Repairs & maintenance		459			4,257			-			800			475			11,627			9,691
Property taxes		733			972			-			1,799			718			475			990
Other operating expenses		2,571			8,075			254			8,168			2,097			3,627			6,746
Total operating expenses		4,338			16,580			416			16,945			4,533			15,954			20,350

Loss from operations		(4,338	)		(14,079	)		(416	)		(9,193	)		(4,533	)		(15,712	)		(17,008	)

Other expense
Interest expense		3,774			4,344			1,199			1,044			5,971			1,821			7,315
Total other expense		3,774			4,344			1,199			1,044			5,971			1,821			7,315

Net loss	$	(8,111	)	$	(18,423	)	$	(1,615	)	$	(10,236	)	$	(10,504	)	$	(17,533	)	$	(24,323	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-35

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Galleta			Gerardo			Goldfinger			Hendricks			Lenka			Liam			Lilinoe

Rental income	$	-		$	1,407		$	3,244		$	1,704		$	6,071		$	7,559		$	2,768

Operating expenses:
Depreciation		-			-			4,974			-			2,276			2,973			855
Insurance		88			221			1,020			150			495			645			338
Management fees		-			70			140			-			210			210			140
Management fees, related party		-			43			1,229			136			771			1,040			325
Repairs & maintenance		-			804			2,866			8,751			3,880			11,407			3,545
Property taxes		-			675			2,567			458			1,210			1,392			688
Other operating expenses		917			2,576			8,302			2,132			6,480			7,174			4,955
Total operating expenses		1,004			4,389			21,099			11,628			15,321			24,840			10,845

Loss from operations		(1,004	)		(2,982	)		(17,856	)		(9,924	)		(9,250	)		(17,281	)		(8,077	)

Other expense
Interest expense		348			2,979			5,168			2,054			3,677			6,822			5,468
Total other expense		348			2,979			5,168			2,054			3,677			6,822			5,468

Net loss	$	(1,353	)	$	(5,961	)	$	(23,024	)	$	(11,978	)	$	(12,927	)	$	(24,104	)	$	(13,546	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-36

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Lois			Marilyn			Metcalf			Monroe			Nathan			Poshington			Pumpkin

Rental income	$	11,225		$	-		$	3,742		$	-		$	-		$	-		$	9,125

Operating expenses:
Depreciation		4,550			-			961			-			-			-			3,003
Insurance		546			109			366			109			108			227			587
Management fees		350			-			140			-			-			-			280
Management fees, related party		1,521			-			465			-			-			-			1,103
Repairs & maintenance		150			-			2,133			-			4,067			80			2,907
Property taxes		1,799			-			839			-			330			695			1,496
Other operating expenses		3,515			541			4,912			541			1,219			600			7,523
Total operating expenses		12,432			651			9,816			651			5,723			1,602			16,898

Loss from operations		(1,207	)		(651	)		(6,074	)		(651	)		(5,723	)		(1,602	)		(7,772	)

Other expense
Interest expense		-			1,687			1,748			1,687			1,482			2,210			3,728
Total other expense		-			1,687			1,748			1,687			1,482			2,210			3,728

Net loss	$	(1,207	)	$	(2,337	)	$	(7,822	)	$	(2,337	)	$	(7,205	)	$	(3,812	)	$	(11,500	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-37

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Raider			Sambino			Sandpiper			Scarlett			Sinalda			Stonemill			Targaryen

Rental income	$	-		$	10,082		$	-		$	469		$	805		$	-		$	4,132

Operating expenses:
Depreciation		-			3,451			-			999			2,657			-			892
Insurance		108			540			117			394			583			234			354
Management fees		-			350			-			70			70			-			140
Management fees, related party		-			1,276			-			-			583			-			385
Repairs & maintenance		-			330			-			7,782			1,795			8,368			2,211
Property taxes		-			1,650			-			803			1,426			715			169
Other operating expenses		464			9,203			1,115			3,256			8,280			2,147			4,312
Total operating expenses		572			16,800			1,232			13,305			15,395			11,463			8,462

Loss from operations		(572	)		(6,718	)		(1,232	)		(12,836	)		(14,590	)		(11,463	)		(4,329	)

Other expense
Interest expense		1,297			3,230			268			7,280			5,453			3,674			5,549
Total other expense		1,297			3,230			268			7,280			5,453			3,674			5,549

Net loss	$	(1,869	)	$	(9,947	)	$	(1,500	)	$	(20,116	)	$	(20,043	)	$	(15,138	)	$	(9,878	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-38

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Tilly			Troncos			Tully			Tyrell			Vega			Wasilla			Wendover

Rental income	$	-		$	5,835		$	-		$	2,793		$	2,395		$	-		$	-

Operating expenses:
Depreciation		897			3,197			2,192			1,479			891			2,317			-
Insurance		279			630			577			386			352			498			225
Management fees		-			210			-			140			140			-			-
Management fees, related party		-			607			481			419			317			208			-
Repairs & maintenance		3,804			2,627			3,230			1,225			525			1,959			1,595
Property taxes		568			1,604			1,323			884			718			1,141			688
Other operating expenses		3,703			6,345			4,749			5,480			5,050			5,375			1,118
Total operating expenses		9,252			15,220			12,552			10,013			7,994			11,498			3,625

Loss from operations		(9,252	)		(9,385	)		(12,552	)		(7,220	)		(5,599	)		(11,498	)		(3,625	)

Other expense
Interest expense		3,544			10,252			8,886			5,558			5,396			7,738			2,185
Total other expense		3,544			10,252			8,886			5,558			5,396			7,738			2,185

Net loss	$	(12,796	)	$	(19,637	)	$	(21,438	)	$	(12,778	)	$	(10,994	)	$	(19,236	)	$	(5,811	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-39

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Whippoorwill			Windgate			Wyndsong			Consolidated

Rental income	$	-		$	2,724		$	-		$	102,005

Operating expenses:
Depreciation		-			695			-			56,556
Insurance		224			272			215			15,619
Management fees		-			140			-			4,060
Management fees, related party		-			249			-			14,684
Repairs & maintenance		3,803			4,225			15,239			163,653
Property taxes		684			555			658			36,778
Other operating expenses		1,981			5,235			2,215			182,672
Total operating expenses		6,692			11,371			18,328			474,021

Loss from operations		(6,692	)		(8,648	)		(18,328	)		(372,017	)

Other expense
Interest expense		3,068			3,070			2,093			170,907
Total other expense		3,068			3,070			2,093			170,907

Net loss	$	(9,760	)	$	(11,717	)	$	(20,421	)	$	(542,924	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-40

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Adela			Adler			Alex			Ameris			Arbolado			Arthur			Ashland			Belleglade

Balance at January 1, 2026	$	244,513		$	379,127		$	363,885		$	263,211		$	354,928		$	(20,683	)	$	363,834		$	393,588
Issuance of membership units, net of offering costs		-			-			-			-			-			463,207			-			-
Deemed contribution from manager		-			-			-			-			-			7,350			-			-
Distributions		(6,935	)		(8,906	)		(10,883	)		(2,500	)		(8,922	)		(4,652	)		(10,526	)		(10,453	)
Net income (loss)		2,538			1,992			4,563			(4,791	)		(53	)		(11,610	)		4,850			3,964
Balance at June 30, 2026	$	240,117		$	372,213		$	357,565		$	255,920		$	345,953		$	433,612		$	358,158		$	387,100

See the accompanying notes to the consolidated and consolidating financial statements.

F-41

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Blair			Briarmanor			Caldwell			Camila			Camphor			Chadwick			Chalkstone			Chesterton

Balance at January 1, 2026	$	81,350		$	424,264		$	(8,644	)	$	(32,388	)	$	273,220		$	-		$	(14,244	)	$	564,995
Issuance of membership units, net of offering costs		272,373			-			318,910			420,893			-			-			-			(100	)
Deemed contribution from manager		16,108			-			10,858			6,440			-			-			-			-
Distributions		(5,171	)		(10,154	)		(1,099	)		(7,301	)		(8,016	)		-			-			(12,103	)
Net income (loss)		(3,774	)		3,744			(10,922	)		(3,787	)		2,632			(10,341	)		(20,225	)		2,105
Balance at June 30, 2026	$	360,886		$	417,854		$	309,103		$	383,857		$	267,836		$	(10,341	)	$	(34,469	)	$	554,897

See the accompanying notes to the consolidated and consolidating financial statements.

F-42

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Chloe			Clark			Cyrus			Evie			Farinosa			Fizzy			Fortress			Galleta

Balance at January 1, 2026	$	(13,651	)	$	317,851		$	409,480		$	264,286		$	(3,617	)	$	391,685		$	377,020		$	311,147
Issuance of membership units, net of offering costs		217,256			-			-			-			-			-			-			-
Deemed contribution from manager		-			-			-			-			-			-			-			-
Distributions		(1,712	)		(6,003	)		(7,587	)		(8,246	)		-			(10,074	)		(10,803	)		(7,339	)
Net income (loss)		(10,633	)		3,288			(3,400	)		2,898			(25,806	)		419			3,820			4,607
Balance at June 30, 2026	$	191,259		$	315,136		$	398,493		$	258,938		$	(29,423	)	$	382,031		$	370,037		$	308,416

See the accompanying notes to the consolidated and consolidating financial statements.

F-43

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Gavin			Gerardo			Goldfinger			Goshen			Gracianna			Haynes			Hendricks			Kanan

Balance at January 1, 2026	$	(6,297	)	$	388,881		$	563,464		$	(9,932	)	$	(27,026	)	$	-		$	262,506		$	-
Issuance of membership units, net of offering costs		415,270			-			-			253,212			370,678			-			-			-
Deemed contribution from manager		6,650			-			-			-			5,860			-			-			-
Distributions		(2,711	)		(10,941	)		(10,041	)		(761	)		(5,804	)		-			(9,918	)		-
Net income (loss)		(18,696	)		3,452			1,977			(16,898	)		(3,934	)		(10,963	)		3,595			(14,600	)
Balance at June 30, 2026	$	394,216		$	381,392		$	555,401		$	225,621		$	339,774		$	(10,963	)	$	256,183		$	(14,600	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-44

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Kitsune			Lancer			Lenka			Liam			Lilinoe			Lois			Lucky			Marilyn

Balance at January 1, 2026	$	(5,519	)	$	-		$	342,116		$	443,218		$	391,233		$	325,853		$	(10,387	)	$	384,429
Issuance of membership units, net of offering costs		395,956			-			-			-			-			-			-			-
Deemed contribution from manager		7,719			-			-			-			-			-			-			-
Distributions		-			-			(10,946	)		(13,015	)		(10,322	)		(10,202	)		-			(10,381	)
Net income (loss)		(18,052	)		(20,480	)		4,905			5,352			3,274			4,555			(14,601	)		3,421
Balance at June 30, 2026	$	380,103		$	(20,480	)	$	336,075		$	435,554		$	384,186		$	320,206		$	(24,989	)	$	377,470

See the accompanying notes to the consolidated and consolidating financial statements.

F-45

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Metcalf			Monroe			Nathan			Orland			Ozark			Parker			Poshington			Preston

Balance at January 1, 2026	$	325,123		$	374,606		$	186,265		$	(2,710	)	$	-		$	(9,613	)	$	423,003		$	-
Issuance of membership units, net of offering costs		-			-			-			-			-			445,862			-			-
Deemed contribution from manager		-			-			-			-			-			6,940			-			-
Distributions		(10,415	)		(6,587	)		(5,217	)		-			-			(1,540	)		(12,849	)		-
Net income (loss)		3,504			1,801			3,020			(14,708	)		(13,091	)		(25,448	)		2,320			(16,393	)
Balance at June 30, 2026	$	318,212		$	369,820		$	184,068		$	(17,418	)	$	(13,091	)	$	416,201		$	412,474		$	(16,393	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-46

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Pumpkin			Raider			Rivendell			Rosalee			Rucker			Sambino			Sandpiper			Scarlett

Balance at January 1, 2026	$	340,912		$	384,562		$	(15,453	)	$	-		$	(5,487	)	$	305,608		$	415,911		$	454,941
Issuance of membership units, net of offering costs		-			-			260,723			-			-			-			-			-
Deemed contribution from manager		-			-			4,592			-			-			-			-			-
Distributions		(11,067	)		(13,682	)		(3,547	)		-			-			(9,072	)		(8,587	)		(10,616	)
Net income (loss)		4,678			2,438			(7,553	)		(15,598	)		(14,340	)		3,302			588			(9,324	)
Balance at June 30, 2026	$	334,522		$	373,317		$	238,762		$	(15,598	)	$	(19,827	)	$	299,838		$	407,912		$	435,001

See the accompanying notes to the consolidated and consolidating financial statements.

F-47

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Sinalda			Stonemill			Targaryen			Terrien			Tilly			Troncos			Tully			Tyrell			Vega

Balance at January 1, 2026	$	401,396		$	407,882		$	409,989		$	436,323		$	323,470		$	362,934		$	498,546		$	341,418		$	414,066
Issuance of membership units, net of offering costs		-			-			-			-			-			-			-			-			-
Deemed contribution from manager		-			-			-			-			-			-			-			-			-
Distributions		(9,644	)		(10,648	)		(11,965	)		(11,547	)		(8,439	)		(8,747	)		(10,414	)		(9,311	)		(10,063	)
Net income (loss)		4,192			2,933			3,107			983			3,677			2,383			6,335			3,960			601
Balance at June 30, 2026	$	395,944		$	400,167		$	401,130		$	425,758		$	318,707		$	356,570		$	494,467		$	336,067		$	404,605

See the accompanying notes to the consolidated and consolidating financial statements.

F-48

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Wasilla			Wendover			Wesley			Whippoorwill			Wildcat			William			Windgate			Wyndsong			Consolidated

Balance at January 1, 2026	$	439,871		$	393,600		$	273,552		$	392,066		$	338,630		$	(19,153	)	$	318,814		$	374,117		$	18,012,888
Issuance of membership units, net of offering costs		-			-			-			-			-			369,723			-			-			4,203,963
Deemed contribution from manager		-			-			-			-			-			5,860			-			-			78,376
Distributions		(12,712	)		(10,311	)		(6,491	)		(11,528	)		(10,858	)		(5,430	)		(9,270	)		(6,550	)		(511,537	)
Net income (loss)		1,880			3,714			2,698			4,258			5,105			(3,315	)		3,560			(2,079	)		(202,427	)
Balance at June 30, 2026	$	429,038		$	387,003		$	269,758		$	384,795		$	332,878		$	347,685		$	313,105		$	365,487		$	21,581,263

See the accompanying notes to the consolidated and consolidating financial statements.

F-49

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Adela			Adler			Alex			Ameris			Arbolado			Belleglade			Blair			Briarmanor

Balance at January 1, 2025	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Issuance of membership units, net of offering costs		-			394,425			380,050			279,041			-			409,937			-			-
Deemed contribution from manager		-			5,315			3,594			3,267			-			4,361			-			-
Distributions		-			-			-			(1,024	)		-			-			-			-
Net loss		(15,209	)		(12,598	)		(14,667	)		(18,869	)		(12,420	)		(12,391	)		(13,833	)		(8,111	)
Balance at June 30, 2025	$	(15,209	)	$	387,142		$	368,977		$	262,414		$	(12,420	)	$	401,907		$	(13,833	)	$	(8,111	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-50

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Camphor			Chesterton			Clark			Cyrus			Evie			Fortress			Galleta			Gerardo

Balance at January 1, 2025	$	-		$	-		$	(13,986	)	$	-		$	-		$	-		$	-		$	-
Issuance of membership units, net of offering costs		292,218			-			353,969			-			-			401,935			-			-
Deemed contribution from manager		2,831			-			-			-			-			5,254			-			-
Distributions		-			-			(4,282	)		-			-			-			-			-
Net loss		(18,423	)		(1,615	)		(10,236	)		(10,504	)		(17,533	)		(24,323	)		(1,353	)		(5,961	)
Balance at June 30, 2025	$	276,626		$	(1,615	)	$	325,465		$	(10,504	)	$	(17,533	)	$	382,865		$	(1,353	)	$	(5,961	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-51

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Goldfinger			Hendricks			Lenka			Liam			Lilinoe			Lois			Marilyn			Metcalf

Balance at January 1, 2025	$	-		$	-		$	-		$	-		$	-		$	339,123		$	-		$	-
Issuance of membership units, net of offering costs		591,504			-			360,526			470,558			410,024			-			-			337,215
Deemed contribution from manager		5,491			-			3,677			4,363			5,468			-			-			1,748
Distributions		-			-			(1,597	)		(1,830	)		-			(8,139	)		-			-
Net loss		(23,024	)		(11,978	)		(12,927	)		(24,104	)		(13,546	)		(1,207	)		(2,337	)		(7,822	)
Balance at June 30, 2025	$	573,972		$	(11,978	)	$	349,679		$	448,987		$	401,947		$	329,778		$	(2,337	)	$	331,141

See the accompanying notes to the consolidated and consolidating financial statements.

F-52

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Monroe			Nathan			Poshington			Pumpkin			Raider			Sambino			Sandpiper			Scarlett

Balance at January 1, 2025	$	-		$	-		$	-		$	-		$	-		$	(9,988	)	$	-		$	-
Issuance of membership units, net of offering costs		-			-			-			359,521			-			332,102			-			-
Deemed contribution from manager		-			-			-			3,728			-			4,874			-			-
Distributions		-			-			-			(4,038	)		-			(5,558	)		-			-
Net loss		(2,337	)		(7,205	)		(3,812	)		(11,500	)		(1,869	)		(9,947	)		(1,500	)		(20,116	)
Balance at June 30, 2025	$	(2,337	)	$	(7,205	)	$	(3,812	)	$	347,710		$	(1,869	)	$	311,482		$	(1,500	)	$	(20,116	)

See the accompanying notes to the consolidated and consolidating financial statements.

F-53

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Sinalda			Stonemill			Targaryen			Tilly			Troncos			Tully			Tyrell			Vega

Balance at January 1, 2025	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Issuance of membership units, net of offering costs		422,948			-			424,311			-			381,859			520,752			354,803			425,168
Deemed contribution from manager		3,229			-			3,300			-			8,174			6,220			3,803			5,396
Distributions		-			-			-			-			(2,138	)		-			-			-
Net loss		(20,043	)		(15,138	)		(9,878	)		(12,796	)		(19,637	)		(21,438	)		(12,778	)		(10,994	)
Balance at June 30, 2025	$	406,134		$	(15,138	)	$	417,733		$	(12,796	)	$	368,258		$	505,534		$	345,829		$	419,569

See the accompanying notes to the consolidated and consolidating financial statements.

F-54

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Wasilla			Wendover			Whippoorwill			Windgate			Wyndsong			Consolidated

Balance at January 1, 2025	$	-		$	-		$	-		$	-		$	-		$	315,149
Issuance of membership units, net of offering costs		375,129			-			-			333,979			-			8,611,974
Deemed contribution from manager		7,738			-			-			3,070			-			94,899
Distributions		-			-			-			-			-			(28,607	)
Net loss		(19,236	)		(5,811	)		(9,760	)		(11,717	)		(20,421	)		(542,924	)
Balance at June 30, 2025	$	363,631		$	(5,811	)	$	(9,760	)	$	325,332		$	(20,421	)	$	8,450,492

See the accompanying notes to the consolidated and consolidating financial statements.

F-55

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Adela			Adler			Alex			Ameris			Arbolado			Arthur

Cash Flows from Operating Activities:
Net income (loss)	$	2,538		$	1,992		$	4,563		$	(4,791	)	$	(53	)	$	(11,610	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		3,231			4,908			4,765			3,452			4,648			5,789
(Increase) decrease in assets
Other receivables		-			-			-			-			-			-
Prepaid expenses		(1,754	)		(890	)		(1,125	)		(1,755	)		(899	)		(1,079	)
Due from related parties		-			-			-			-			-			-
Due from (to) third party property manager		(95	)		188			127			1,739			392			(4,892	)
Increase (decrease) in liabilities
Accrued expenses		1,444			1,359			(1,451	)		1,533			(346	)		(20,193	)
Tenant deposits		-			-			-			1,750			-			2,595
Due to (from) related parties		2,850			2,166			2,396			2,643			2,118			21,187
Net cash provided by (used in) operating activities		8,214			9,724			9,274			4,572			5,859			(8,203	)

Cash Flows from Investing Activities:
Purchases of property improvements		-			-			-			-			-			-
Net cash used in investing activities		-			-			-			-			-			-

Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			(39,510	)
Repayments of bridge financing, related party		-			-			-			-			-			(399,000	)
Net proceeds from the issuance of membership units		-			-			-			-			-			463,207
Contributions from manager		-			-			-			-			-			7,350
Distributions		(6,935	)		(8,906	)		(10,883	)		(2,500	)		(8,922	)		(4,652	)
Net cash provided by (used in) financing activities		(6,935	)		(8,906	)		(10,883	)		(2,500	)		(8,922	)		27,395

Net change in cash		1,279			818			(1,608	)		2,072			(3,063	)		19,192
Cash at beginning of the period		11,889			28,657			24,582			12,360			21,870			-
Cash at end of the period	$	13,168		$	29,475		$	22,974		$	14,431		$	18,808		$	19,192

Cash paid for (refunded from) income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	-		$	-		$	-		$	-		$	-		$	6,412

Supplemental disclosure of non-cash financing activities:
Advance from manager for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Bridge financing, related party	$	-		$	-		$	-		$	-		$	-		$	-

See the accompanying notes to the consolidated and consolidating financial statements.

F-56

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Ashland			Belleglade			Blair			Briarmanor			Caldwell			Camila

Cash Flows from Operating Activities:
Net income (loss)	$	4,850		$	3,964		$	(3,774	)	$	3,744		$	(10,922	)	$	(3,787	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		4,744			5,162			4,795			6,464			3,942			6,752
(Increase) decrease in assets
Other receivables		-			-			-			-			-			-
Prepaid expenses		(1,138	)		(1,197	)		(936	)		(1,202	)		(1,051	)		(1,167	)
Due from related parties		-			-			-			-			-			-
Due from (to) third party property manager		62			144			(27	)		215			(3,917	)		49
Increase (decrease) in liabilities
Accrued expenses		(2,141	)		1,925			(14,766	)		1,386			(4,263	)		(9,842	)
Tenant deposits		-			-			-			-			2,245			-
Due to (from) related parties		2,436			2,553			3,806			(1,659	)		24,416			(6,402	)
Net cash provided by (used in) operating activities		8,813			12,552			(10,902	)		8,948			10,451			(14,397	)

Cash Flows from Investing Activities:
Purchases of property improvements		-			-			-			-			-			-
Net cash used in investing activities		-			-			-			-			-			-

Cash flows from financing activities
Repayments of amounts due to related party		-			-			(32,187	)		-			(35,963	)		(32,919	)
Repayments of bridge financing, related party		-			-			(227,000	)		-			(275,372	)		(356,675	)
Net proceeds from the issuance of membership units		-			-			272,373			-			318,910			420,893
Contributions from manager		-			-			16,108			-			10,858			6,440
Distributions		(10,526	)		(10,453	)		(5,171	)		(10,154	)		(1,099	)		(7,301	)
Net cash provided by (used in) financing activities		(10,526	)		(10,453	)		24,123			(10,154	)		17,333			30,438

Net change in cash		(1,713	)		2,099			13,221			(1,206	)		27,785			16,042
Cash at beginning of the period		22,920			23,574			8,474			25,595			-			6,067
Cash at end of the period	$	21,207		$	25,673		$	21,694		$	24,389		$	27,785		$	22,108

Cash paid for (refunded from) income taxes	$	400		$	-		$	300		$	-		$	-		$	-
Cash paid for interest expenses	$	-		$	-		$	2,241		$	-		$	5,569		$	2,705

Supplemental disclosure of non-cash financing activities:
Advance from manager for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Bridge financing, related party	$	-		$	-		$	-		$	-		$	-		$	-

See the accompanying notes to the consolidated and consolidating financial statements.

F-57

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Camphor			Chadwick			Chalkstone			Chesterton			Chloe			Clark

Cash Flows from Operating Activities:
Net income (loss)	$	2,632		$	(10,341	)	$	(20,225	)	$	2,105		$	(10,633	)	$	3,288
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		4,315			-			6,603			7,364			4,379			4,369
(Increase) decrease in assets
Other receivables		-			-			-			-			-			-
Prepaid expenses		(990	)		-			(1,262	)		(973	)		(995	)		(954	)
Due from related parties		-			-			-			-			-			-
Due from (to) third party property manager		(145	)		(719	)		(3,429	)		(1,234	)		(3,806	)		263
Increase (decrease) in liabilities
Accrued expenses		186			5,647			(11,715	)		1,019			7,981			(30	)
Tenant deposits		-			2,295			2,545			-			1,995			(100	)
Due to (from) related parties		1,350			3,118			35,978			2,982			6,222			2,159
Net cash provided by (used in) operating activities		7,347			-			8,495			11,263			5,144			8,996

Cash Flows from Investing Activities:
Purchases of property improvements		-			-			-			-			-			-
Net cash used in investing activities		-			-			-			-			-			-

Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-
Repayments of bridge financing, related party		-			-			-			-			(145,000	)		-
Net proceeds from the issuance of membership units		-			-			-			(100	)		217,256			-
Contributions from manager		-			-			-			-			-			-
Distributions		(8,016	)		-			-			(12,103	)		(1,712	)		(6,003	)
Net cash provided by (used in) financing activities		(8,016	)		-			-			(12,203	)		70,544			(6,003	)

Net change in cash		(669	)		-			8,495			(940	)		75,688			2,994
Cash at beginning of the period		9,075			-			-			29,396			-			10,711
Cash at end of the period	$	8,406		$	-		$	8,495		$	28,456		$	75,688		$	13,705

Cash paid for (refunded from) income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	-		$	3,208		$	11,730		$	-		$	7,386		$	-

Supplemental disclosure of non-cash financing activities:
Advance from manager for acquisition of property	$	-		$	17,343		$	-		$	-		$	-		$	-
Acquisition of property	$	-		$	340,000		$	-		$	-		$	-		$	-
Bridge financing, related party	$	-		$	323,000		$	-		$	-		$	-		$	-

See the accompanying notes to the consolidated and consolidating financial statements.

F-58

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Cyrus			Evie			Farinosa			Fizzy			Fortress			Galleta

Cash Flows from Operating Activities:
Net income (loss)	$	(3,400	)	$	2,898		$	(25,806	)	$	419		$	3,820		$	4,607
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		5,348			3,555			4,978			5,061			5,732			4,014
(Increase) decrease in assets
Other receivables		-			-			-			-			-			-
Prepaid expenses		(909	)		(950	)		(1,218	)		(983	)		(1,070	)		(900	)
Due from related parties		-			-			-			-			-			-
Due from (to) third party property manager		284			61			(4,256	)		368			(100	)		-
Increase (decrease) in liabilities
Accrued expenses		(322	)		217			13,076			(1,865	)		(1,809	)		(2,007	)
Tenant deposits		-			-			2,295			-			-			-
Due to (from) related parties		2,301			1,117			16,630			2,331			2,362			2,050
Net cash provided by (used in) operating activities		3,303			6,898			5,699			5,332			8,935			7,763

Cash Flows from Investing Activities:
Purchases of property improvements		-			-			(5,500	)		-			-			-
Net cash used in investing activities		-			-			(5,500	)		-			-			-

Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-
Repayments of bridge financing, related party		-			-			-			-			-			-
Net proceeds from the issuance of membership units		-			-			-			-			-			-
Contributions from manager		-			-			-			-			-			-
Distributions		(7,587	)		(8,246	)		-			(10,074	)		(10,803	)		(7,339	)
Net cash provided by (used in) financing activities		(7,587	)		(8,246	)		-			(10,074	)		(10,803	)		(7,339	)

Net change in cash		(4,284	)		(1,348	)		199			(4,742	)		(1,868	)		425
Cash at beginning of the period		25,719			9,070			-			27,842			18,995			24,285
Cash at end of the period	$	21,434		$	7,722		$	199		$	23,100		$	17,127		$	24,710

Cash paid for (refunded from) income taxes	$	-		$	-		$	-		$	400		$	208		$	400
Cash paid for interest expenses	$	-		$	-		$	10,221		$	-		$	-		$	-

Supplemental disclosure of non-cash financing activities:
Advance from manager for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Bridge financing, related party	$	-		$	-		$	-		$	-		$	-		$	-

See the accompanying notes to the consolidated and consolidating financial statements.

F-59

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Gavin			Gerardo			Goldfinger			Goshen			Gracianna			Haynes

Cash Flows from Operating Activities:
Net income (loss)	$	(18,696	)	$	3,452		$	1,977		$	(16,898	)	$	(3,934	)	$	(10,963	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		5,750			5,082			7,461			6,177			5,122			1,610
(Increase) decrease in assets
Other receivables		-			-			-			-			-			-
Prepaid expenses		(2,603	)		(983	)		(1,499	)		(1,261	)		(881	)		(1,064	)
Due from related parties		-			-			-			-			-			-
Due from (to) third party property manager		-			65			(1,080	)		(3,598	)		(191	)		(4,199	)
Increase (decrease) in liabilities
Accrued expenses		(5,725	)		(1,954	)		(1,062	)		(315	)		(9,249	)		9,197
Tenant deposits		2,995			-			-			2,645			-			2,395
Due to (from) related parties		17,730			2,287			3,506			18,361			830			3,359
Net cash provided by (used in) operating activities		(550	)		7,949			9,301			5,112			(8,303	)		336

Cash Flows from Investing Activities:
Purchases of property improvements		(7,126	)		-			-			-			-			-
Net cash used in investing activities		(7,126	)		-			-			-			-			-

Cash flows from financing activities
Repayments of amounts due to related party		(33,143	)		-			-			-			(29,709	)		-
Repayments of bridge financing, related party		(361,000	)		-			-			-			(318,000	)		-
Net proceeds from the issuance of membership units		415,270			-			-			253,212			370,678			-
Contributions from manager		6,650			-			-			-			5,860			-
Distributions		(2,711	)		(10,941	)		(10,041	)		(761	)		(5,804	)		-
Net cash provided by (used in) financing activities		25,066			(10,941	)		(10,041	)		252,451			23,025			-

Net change in cash		17,390			(2,992	)		(740	)		257,563			14,723			336
Cash at beginning of the period		-			25,821			33,424			-			-			-
Cash at end of the period	$	17,390		$	22,828		$	32,685		$	257,563		$	14,723		$	336

Cash paid for (refunded from) income taxes	$	-		$	400		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	8,611		$	-		$	-		$	12,088		$	1,666		$	5,698

Supplemental disclosure of non-cash financing activities:
Advance from manager for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	24,444
Acquisition of property	$	-		$	-		$	-		$	-		$	-		$	350,000
Bridge financing, related party	$	-		$	-		$	-		$	-		$	-		$	328,699

See the accompanying notes to the consolidated and consolidating financial statements.

F-60

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Hendricks			Kanan			Kitsune			Lancer			Lenka			Liam

Cash Flows from Operating Activities:
Net income (loss)	$	3,595		$	(14,600	)	$	(18,052	)	$	(20,480	)	$	4,905		$	5,352
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		3,408			1,692			4,967			2,885			4,551			5,946
(Increase) decrease in assets
Other receivables		-			-			(34,264	)		-			-			-
Prepaid expenses		(1,086	)		(1,053	)		(1,345	)		(943	)		(1,300	)		(1,342	)
Due from related parties		-			-			-			-			-			-
Due from (to) third party property manager		153			(2,979	)		(2,988	)		-			(578	)		32
Increase (decrease) in liabilities
Accrued expenses		407			8,302			(2,435	)		12,562			1,777			(507	)
Tenant deposits		-			2,645			2,295			-			-			-
Due to (from) related parties		2,069			5,992			61,952			12,127			2,601			4,962
Net cash provided by (used in) operating activities		8,546			-			10,130			6,151			11,955			14,443

Cash Flows from Investing Activities:
Purchases of property improvements		-			-			-			(6,079	)		-			-
Net cash used in investing activities		-			-			-			(6,079	)		-			-

Cash flows from financing activities
Repayments of amounts due to related party		-			-			(33,067	)		-			-			-
Repayments of bridge financing, related party		-			-			(342,000	)		-			-			-
Net proceeds from the issuance of membership units		-			-			395,956			-			-			-
Contributions from manager		-			-			7,719			-			-			-
Distributions		(9,918	)		-			-			-			(10,946	)		(13,015	)
Net cash provided by (used in) financing activities		(9,918	)		-			28,608			-			(10,946	)		(13,015	)

Net change in cash		(1,371	)		-			38,738			72			1,009			1,428
Cash at beginning of the period		18,831			-			-			-			17,307			18,887
Cash at end of the period	$	17,460		$	-		$	38,738		$	72		$	18,316		$	20,315

Cash paid for (refunded from) income taxes	$	-		$	-		$	400		$	-		$	-		$	-
Cash paid for interest expenses	$	-		$	6,084		$	10,930		$	8,892		$	-		$	-

Supplemental disclosure of non-cash financing activities:
Advance from manager for acquisition of property	$	-		$	20,580		$	-		$	20,818		$	-		$	-
Acquisition of property	$	-		$	369,900		$	-		$	360,000		$	-		$	-
Bridge financing, related party	$	-		$	351,000		$	-		$	342,000		$	-		$	-

See the accompanying notes to the consolidated and consolidating financial statements.

F-61

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Lilinoe			Lois			Lucky			Marilyn			Metcalf			Monroe

Cash Flows from Operating Activities:
Net income (loss)	$	3,274		$	4,555		$	(14,601	)	$	3,421		$	3,504		$	1,801
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		5,132			4,550			5,217			4,951			4,721			4,961
(Increase) decrease in assets
Other receivables		-			-			-			-			-			-
Prepaid expenses		(1,602	)		(954	)		(1,154	)		(1,091	)		(976	)		(1,093	)
Due from related parties		-			-			-			-			-			-
Due from (to) third party property manager		670			40			(4,806	)		(334	)		121			(1,479	)
Increase (decrease) in liabilities
Accrued expenses		1,786			49			7,501			(1,273	)		(1,640	)		(1,272	)
Tenant deposits		-			-			2,545			-			-			-
Due to (from) related parties		(2,231	)		2,128			9,604			3,087			2,098			3,231
Net cash provided by (used in) operating activities		7,029			10,368			4,307			8,762			7,829			6,148

Cash Flows from Investing Activities:
Purchases of property improvements		-			-			-			-			-			-
Net cash used in investing activities		-			-			-			-			-			-

Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-
Repayments of bridge financing, related party		-			-			-			-			-			-
Net proceeds from the issuance of membership units		-			-			-			-			-			-
Contributions from manager		-			-			-			-			-			-
Distributions		(10,322	)		(10,202	)		-			(10,381	)		(10,415	)		(6,587	)
Net cash provided by (used in) financing activities		(10,322	)		(10,202	)		-			(10,381	)		(10,415	)		(6,587	)

Net change in cash		(3,293	)		166			4,307			(1,619	)		(2,586	)		(439	)
Cash at beginning of the period		27,612			13,807			-			27,116			21,624			17,621
Cash at end of the period	$	24,319		$	13,973		$	4,307		$	25,497		$	19,037		$	17,182

Cash paid for (refunded from) income taxes	$	-		$	-		$	400		$	-		$	157		$	-
Cash paid for interest expenses	$	-		$	-		$	11,602		$	-		$	-		$	-

Supplemental disclosure of non-cash financing activities:
Advance from manager for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Bridge financing, related party	$	-		$	-		$	-		$	-		$	-		$	-

See the accompanying notes to the consolidated and consolidating financial statements.

F-62

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Nathan			Orland			Ozark			Parker			Poshington			Preston

Cash Flows from Operating Activities:
Net income (loss)	$	3,020		$	(14,708	)	$	(13,091	)	$	(25,448	)	$	2,320		$	(16,393	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		2,473			4,598			1,427			6,693			5,977			1,086
(Increase) decrease in assets
Other receivables		-			-			-			-			-			-
Prepaid expenses		(659	)		(1,133	)		(1,075	)		(1,154	)		(1,024	)		(776	)
Due from related parties		-			-			-			-			-			-
Due from (to) third party property manager		292			(6,207	)		(4,070	)		(4,816	)		(33	)		-
Increase (decrease) in liabilities
Accrued expenses		(865	)		11,486			8,265			(14,680	)		(2,363	)		6,378
Tenant deposits		(1	)		2,545			2,095			2,495			-			-
Due to (from) related parties		1,401			5,604			6,449			24,649			4,727			10,524
Net cash provided by (used in) operating activities		5,660			2,185			-			(12,261	)		9,604			819

Cash Flows from Investing Activities:
Purchases of property improvements		-			-			-			(6,150	)		(9,014	)		-
Net cash used in investing activities		-			-			-			(6,150	)		(9,014	)		-

Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			(37,697	)		-			-
Repayments of bridge financing, related party		-			-			-			(377,000	)		-			-
Net proceeds from the issuance of membership units		-			-			-			445,862			-			-
Contributions from manager		-			-			-			6,940			-			-
Distributions		(5,217	)		-			-			(1,540	)		(12,849	)		-
Net cash provided by (used in) financing activities		(5,217	)		-			-			36,565			(12,849	)		-

Net change in cash		443			2,185			-			18,154			(12,259	)		819
Cash at beginning of the period		11,052			-			-			-			44,001			-
Cash at end of the period	$	11,495		$	2,185		$	-		$	18,154		$	31,742		$	819

Cash paid for (refunded from) income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	-		$	10,336		$	5,678		$	10,619		$	-		$	3,900

Supplemental disclosure of non-cash financing activities:
Advance from manager for acquisition of property	$	-		$	-		$	10,493		$	-		$	-		$	13,422
Acquisition of property	$	-		$	-		$	314,250		$	-		$	-		$	237,113
Bridge financing, related party	$	-		$	-		$	305,324		$	-		$	-		$	225,000

See the accompanying notes to the consolidated and consolidating financial statements.

F-63

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Pumpkin			Raider			Rivendell			Rosalee			Rucker			Sambino

Cash Flows from Operating Activities:
Net income (loss)	$	4,678		$	2,438		$	(7,553	)	$	(15,598	)	$	(14,340	)	$	3,302
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		4,504			5,442			3,283			1,944			5,593			4,141
(Increase) decrease in assets
Other receivables		-			-			-			-			-			-
Prepaid expenses		(1,123	)		(1,041	)		(644	)		(927	)		(1,202	)		(1,046	)
Due from related parties		-			-			-			-			-			-
Due from (to) third party property manager		231			78			(1,225	)		-			(4,640	)		65
Increase (decrease) in liabilities
Accrued expenses		(2,134	)		729			(3,523	)		10,450			14,171			(558	)
Tenant deposits		-			-			-			-			2,395			-
Due to (from) related parties		2,387			4,750			(11,118	)		10,380			5,287			2,222
Net cash provided by (used in) operating activities		8,542			12,396			(20,780	)		6,249			7,265			8,127

Cash Flows from Investing Activities:
Purchases of property improvements		-			-			-			(6,249	)		-			-
Net cash used in investing activities		-			-			-			(6,249	)		-			-

Cash flows from financing activities
Repayments of amounts due to related party		-			-			(22,032	)		-			-			-
Repayments of bridge financing, related party		-			-			(209,305	)		-			-			-
Net proceeds from the issuance of membership units		-			-			260,723			-			-			-
Contributions from manager		-			-			4,592			-			-			-
Distributions		(11,067	)		(13,682	)		(3,547	)		-			-			(9,072	)
Net cash provided by (used in) financing activities		(11,067	)		(13,682	)		30,431			-			-			(9,072	)

Net change in cash		(2,525	)		(1,287	)		9,650			-			7,265			(945	)
Cash at beginning of the period		23,269			25,748			-			-			-			13,382
Cash at end of the period	$	20,744		$	24,461		$	9,650		$	-		$	7,265		$	12,437

Cash paid for (refunded from) income taxes	$	400		$	-		$	-		$	-		$	400		$	1,036
Cash paid for interest expenses	$	-		$	-		$	264		$	7,124		$	12,261		$	-

Supplemental disclosure of non-cash financing activities:
Advance from manager for acquisition of property	$	-		$	-		$	-		$	20,752		$	-		$	-
Acquisition of property	$	-		$	-		$	-		$	355,000		$	-		$	-
Bridge financing, related party	$	-		$	-		$	-		$	337,250		$	-		$	-

See the accompanying notes to the consolidated and consolidating financial statements.

F-64

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Sandpiper			Scarlett			Sinalda			Stonemill			Targaryen			Terrien

Cash Flows from Operating Activities:
Net income (loss)	$	588		$	(9,324	)	$	4,192		$	2,933		$	3,107		$	983
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		5,347			5,996			5,315			5,342			5,352			5,713
(Increase) decrease in assets
Other receivables		-			-			-			-			-			-
Prepaid expenses		(915	)		(1,029	)		(1,104	)		(1,119	)		(1,159	)		(1,326	)
Due from related parties		-			-			-			2,207			-			-
Due from (to) third party property manager		1,697			235			2,612			76			31			(419	)
Increase (decrease) in liabilities
Accrued expenses		(206	)		8,218			(1,479	)		1,145			1,012			(1,597	)
Tenant deposits		-			-			(1	)		-			-			-
Due to (from) related parties		2,300			2,554			2,415			3,387			2,486			2,854
Net cash provided by (used in) operating activities		8,811			6,650			11,950			13,970			10,828			6,207

Cash Flows from Investing Activities:
Purchases of property improvements		-			-			-			-			-			-
Net cash used in investing activities		-			-			-			-			-			-

Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-
Repayments of bridge financing, related party		-			-			-			-			-			-
Net proceeds from the issuance of membership units		-			-			-			-			-			-
Contributions from manager		-			-			-			-			-			-
Distributions		(8,587	)		(10,616	)		(9,644	)		(10,648	)		(11,965	)		(11,547	)
Net cash provided by (used in) financing activities		(8,587	)		(10,616	)		(9,644	)		(10,648	)		(11,965	)		(11,547	)

Net change in cash		224			(3,966	)		2,306			3,322			(1,137	)		(5,340	)
Cash at beginning of the period		30,985			22,733			22,173			20,403			26,626			24,162
Cash at end of the period	$	31,209		$	18,767		$	24,479		$	23,725		$	25,489		$	18,822

Cash paid for (refunded from) income taxes	$	-		$	-		$	-		$	-		$	(27	)	$	400
Cash paid for interest expenses	$	-		$	-		$	-		$	-		$	-		$	-

Supplemental disclosure of non-cash financing activities:
Advance from manager for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Bridge financing, related party	$	-		$	-		$	-		$	-		$	-		$	-

See the accompanying notes to the consolidated and consolidating financial statements.

F-65

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Tilly			Troncos			Tully			Tyrell			Vega			Wasilla

Cash Flows from Operating Activities:
Net income (loss)	$	3,677		$	2,383		$	6,335		$	3,960		$	601		$	1,880
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		4,826			4,795			6,576			4,437			5,348			6,508
(Increase) decrease in assets
Other receivables		-			-			-			-			-			-
Prepaid expenses		(1,058	)		(911	)		(1,834	)		(973	)		(909	)		(1,200	)
Due from related parties		-			-			-			-			-			-
Due from (to) third party property manager		(469	)		(107	)		212			(313	)		100			100
Increase (decrease) in liabilities
Accrued expenses		(1,074	)		379			(4,253	)		(1,983	)		(561	)		1,406
Tenant deposits		-			-			(1	)		-			-			-
Due to (from) related parties		2,217			2,227			4,539			2,205			2,276			2,733
Net cash provided by (used in) operating activities		8,118			8,767			11,574			7,334			6,856			11,428

Cash Flows from Investing Activities:
Purchases of property improvements		-			-			-			-			-			-
Net cash used in investing activities		-			-			-			-			-			-

Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-
Repayments of bridge financing, related party		-			-			-			-			-			-
Net proceeds from the issuance of membership units		-			-			-			-			-			-
Contributions from manager		-			-			-			-			-			-
Distributions		(8,439	)		(8,747	)		(10,414	)		(9,311	)		(10,063	)		(12,712	)
Net cash provided by (used in) financing activities		(8,439	)		(8,747	)		(10,414	)		(9,311	)		(10,063	)		(12,712	)

Net change in cash		(321	)		19			1,160			(1,977	)		(3,207	)		(1,285	)
Cash at beginning of the period		14,515			23,826			31,158			27,017			30,227			27,566
Cash at end of the period	$	14,194		$	23,845		$	32,319		$	25,040		$	27,020		$	26,281

Cash paid for (refunded from) income taxes	$	400		$	-		$	-		$	400		$	-		$	-
Cash paid for interest expenses	$	-		$	-		$	-		$	-		$	-		$	-

Supplemental disclosure of non-cash financing activities:
Advance from manager for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Bridge financing, related party	$	-		$	-		$	-		$	-		$	-		$	-

See the accompanying notes to the consolidated and consolidating financial statements.

F-66

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	Wendover			Wesley			Whippoorwill			Wildcat

Cash Flows from Operating Activities:
Net income (loss)	$	3,714		$	2,698		$	4,258		$	5,105
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		5,155			3,581			5,134			4,417
(Increase) decrease in assets
Other receivables		-			-			-			-
Prepaid expenses		(3,243	)		(1,918	)		(1,348	)		(1,135	)
Due from related parties		-			-			-			-
Due from (to) third party property manager		349			(18	)		(526	)		-
Increase (decrease) in liabilities
Accrued expenses		1,158			987			(1,720	)		(1,595	)
Tenant deposits		-			-			-			-
Due to (from) related parties		5,015			1,600			2,718			2,366
Net cash provided by (used in) operating activities		12,148			6,931			8,517			9,157

Cash Flows from Investing Activities:
Purchases of property improvements		-			-			-			-
Net cash used in investing activities		-			-			-			-

Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-
Repayments of bridge financing, related party		-			-			-			-
Net proceeds from the issuance of membership units		-			-			-			-
Contributions from manager		-			-			-			-
Distributions		(10,311	)		(6,491	)		(11,528	)		(10,858	)
Net cash provided by (used in) financing activities		(10,311	)		(6,491	)		(11,528	)		(10,858	)

Net change in cash		1,836			440			(3,011	)		(1,701	)
Cash at beginning of the period		21,765			14,087			25,111			20,748
Cash at end of the period	$	23,601		$	14,527		$	22,100		$	19,048

Cash paid for (refunded from) income taxes	$	-		$	95		$	400		$	400
Cash paid for interest expenses	$	-		$	-		$	-		$	-

Supplemental disclosure of non-cash financing activities:
Advance from manager for acquisition of property	$	-		$	-		$	-		$	-
Acquisition of property	$	-		$	-		$	-		$	-
Bridge financing, related party	$	-		$	-		$	-		$	-

See the accompanying notes to the consolidated and consolidating financial statements.

F-67

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2026

	William			Windgate			Wyndsong			Consolidated

Cash Flows from Operating Activities:
Net income (loss)	$	(3,315	)	$	3,560		$	(2,079	)	$	(202,427	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		4,563			4,170			4,908			343,197
(Increase) decrease in assets
Other receivables		-			-			-			(34,264	)
Prepaid expenses		(1,176	)		(899	)		(1,141	)		(83,827	)
Due from related parties		-			-			-			2,207
Due from (to) third party property manager		(2,943	)		169			4,334			(55,086	)
Increase (decrease) in liabilities
Accrued expenses		(6,074	)		(2,141	)		1,831			1,986
Tenant deposits		-			-			(2,195	)		38,474
Due to (from) related parties		11,995			2,007			(946	)		415,012
Net cash provided by (used in) operating activities		3,049			6,866			4,711			425,271

Cash Flows from Investing Activities:
Purchases of property improvements		-			-			-			(40,118	)
Net cash used in investing activities		-			-			-			(40,118	)

Cash flows from financing activities
Repayments of amounts due to related party		(29,434	)		-			-			(325,661	)
Repayments of bridge financing, related party		(318,000	)		-			-			(3,328,352	)
Net proceeds from the issuance of membership units		369,723			-			-			4,203,963
Contributions from manager		5,860			-			-			78,376
Distributions		(5,430	)		(9,270	)		(6,550	)		(511,537	)
Net cash provided by (used in) financing activities		22,719			(9,270	)		(6,550	)		116,789

Net change in cash		25,768			(2,404	)		(1,839	)		501,942
Cash at beginning of the period		-			22,600			23,052			1,109,334
Cash at end of the period	$	25,768		$	20,196		$	21,213		$	1,611,276

Cash paid for (refunded from) income taxes	$	-		$	156		$	400		$	7,532
Cash paid for interest expenses	$	2,067		$	-		$	-		$	167,290

Supplemental disclosure of non-cash financing activities:
Advance from manager for acquisition of property	$	-		$	-		$	-		$	127,852
Acquisition of property	$	-		$	-		$	-		$	2,326,263
Bridge financing, related party	$	-		$	-		$	-		$	2,212,273

See the accompanying notes to the consolidated and consolidating financial statements.

F-68

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Adela			Adler			Alex			Ameris			Arbolado			Belleglade

Cash Flows from Operating Activities:
Net loss	$	(15,209	)	$	(12,598	)	$	(14,667	)	$	(18,869	)	$	(12,420	)	$	(12,391	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		538			818			2,383			1,151			775			1,721
(Increase) Decrease in assets
Due from (to) third party property managers		603			(981	)		2,236			(1,206	)		571			(1,195	)
Increase (decrease) in liabilities
Accrued expenses		3,957			1,662			2,448			3,114			5,554			2,359
Tenant deposits		-			-			-			-			-			-
Due to (from) related parties		10,111			1,804			(384	)		(2,200	)		5,520			(3,187	)
Net cash provided by (used in) operating activities		-			(9,295	)		(7,984	)		(18,010	)		-			(12,692	)
Cash flows from financing activities
Repayments of amounts due to related party		-			(14,000	)		(18,675	)		(11,095	)		-			(18,900	)
Repayments of bridge financing, related party		-			(346,000	)		(330,000	)		(240,000	)		-			(356,000	)
Net proceeds from the issuance of membership units		-			394,425			380,050			279,041			-			409,937
Distributions		-			-			-			(1,024	)		-			-
Net cash provided by (used in) financing activities		-			34,425			31,375			26,921			-			35,037
Net change in cash		-			25,130			23,392			8,911			-			22,344
Cash at beginning of the period		-			-			-			-			-			-
Cash at end of the period	$	-		$	25,130		$	23,392		$	8,911		$	-		$	22,344

Cash paid for income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	2,713		$	5,315		$	3,594		$	4,667		$	3,894		$	4,361

Supplemental disclosure of non-cash financing activities:
Advance from related party for acquisition of property	$	10,100		$	14,000		$	18,675		$	11,095		$	17,000		$	18,900
Acquisition of property - purchase price	$	235,100		$	360,000		$	348,675		$	251,095		$	340,000		$	374,900
Bridge financing, related party	$	225,000		$	346,000		$	330,000		$	240,000		$	323,000		$	356,000
Property improvements advanced from related party	$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from manager	$	-		$	5,315		$	3,594		$	3,267		$	-		$	4,361

See the accompanying notes to the consolidated and consolidating financial statements.

F-69

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Blair			Briarmanor			Camphor			Chesterton			Clark			Cyrus

Cash Flows from Operating Activities:
Net loss	$	(13,833	)	$	(8,111	)	$	(18,423	)	$	(1,615	)	$	(10,236	)	$	(10,504	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		-			335			2,272			-			4,369			891
(Increase) Decrease in assets
Due from (to) third party property managers		-			66			(549	)		-			(3,633	)		2,290
Increase (decrease) in liabilities
Accrued expenses		5,481			6,552			3,679			1,485			(10,080	)		8,353
Tenant deposits		-			-			-			-			2,095			-
Due to (from) related parties		8,352			1,159			(12,421	)		130			1,901			520
Net cash provided by (used in) operating activities		-			-			(25,442	)		-			(15,584	)		1,550
Cash flows from financing activities
Repayments of amounts due to related party		-			-			(14,000	)		-			(8,500	)		-
Repayments of bridge financing, related party		-			-			(251,000	)		-			(313,000	)		-
Net proceeds from the issuance of membership units		-			-			292,218			-			353,969			-
Distributions		-			-			-			-			(4,282	)		-
Net cash provided by (used in) financing activities		-			-			27,218			-			28,187			-
Net change in cash		-			-			1,776			-			12,603			1,550
Cash at beginning of the period		-			-			-			-			-			-
Cash at end of the period	$	-		$	-		$	1,776		$	-		$	12,603		$	1,550

Cash paid for income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	3,297		$	3,774		$	4,344		$	1,199		$	1,044		$	5,971

Supplemental disclosure of non-cash financing activities:
Advance from related party for acquisition of property	$	18,000		$	20,000		$	14,000		$	27,000		$	8,500		$	21,390
Acquisition of property - purchase price	$	350,000		$	400,000		$	265,000		$	538,000		$	321,500		$	391,390
Bridge financing, related party	$	332,000		$	380,000		$	251,000		$	511,000		$	313,000		$	370,000
Property improvements advanced from related party	$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from manager	$	-		$	-		$	2,831		$	-		$	-		$	-

See the accompanying notes to the consolidated and consolidating financial statements.

F-70

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Evie			Fortress			Galleta			Gerardo			Goldfinger			Hendricks

Cash Flows from Operating Activities:
Net loss	$	(17,533	)	$	(24,323	)	$	(1,353	)	$	(5,961	)	$	(23,024	)	$	(11,978	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		-			2,044			-			-			4,974			-
(Increase) Decrease in assets
Due from (to) third party property managers		14,251			13,260			-			(283	)		170			(804	)
Increase (decrease) in liabilities
Accrued expenses		3,390			4,674			3,828			5,966			4,130			4,199
Tenant deposits		-			-			-			-			-			-
Due to (from) related parties		6,716			(10,392	)		(2,475	)		279			1,180			8,582
Net cash provided by (used in) operating activities		6,824			(14,737	)		-			-			(12,569	)		-
Cash flows from financing activities
Repayments of amounts due to related party		-			(18,000	)		-			-			(33,060	)		-
Repayments of bridge financing, related party		-			(342,000	)		-			-			(516,833	)		-
Net proceeds from the issuance of membership units		-			401,935			-			-			591,504			-
Distributions		-			-			-			-			-			-
Net cash provided by (used in) financing activities		-			41,935			-			-			41,611			-
Net change in cash		6,824			27,198			-			-			29,043			-
Cash at beginning of the period		-			-			-			-			-			-
Cash at end of the period	$	6,824		$	27,198		$	-		$	-		$	29,043		$	-

Cash paid for income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	1,821		$	7,315		$	348		$	2,979		$	5,168		$	2,054

Supplemental disclosure of non-cash financing activities:
Advance from related party for acquisition of property	$	13,000		$	18,000		$	17,017		$	24,618		$	33,060		$	13,000
Acquisition of property - purchase price	$	259,000		$	360,000		$	292,593		$	368,360		$	549,893		$	250,000
Bridge financing, related party	$	246,000		$	342,000		$	275,576		$	343,742		$	516,833		$	237,000
Property improvements advanced from related party	$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from manager	$	-		$	5,254		$	-		$	-		$	5,491		$	-

See the accompanying notes to the consolidated and consolidating financial statements.

F-71

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Lenka			Liam			Lilinoe			Lois			Marilyn			Metcalf

Cash Flows from Operating Activities:
Net loss	$	(12,927	)	$	(24,104	)	$	(13,546	)	$	(1,207	)	$	(2,337	)	$	(7,822	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		2,276			2,973			855			4,550			-			961
(Increase) Decrease in assets
Due from (to) third party property managers		(2,233	)		(3,152	)		2,293			1,779			-			5,540
Increase (decrease) in liabilities
Accrued expenses		2,178			3,592			2,577			(4,804	)		2,583			2,278
Tenant deposits		-			-			-			-			-			-
Due to (from) related parties		247			(7,525	)		1,386			7,383			(246	)		(7,420	)
Net cash provided by (used in) operating activities		(10,458	)		(28,216	)		(6,434	)		7,701			-			(6,464	)
Cash flows from financing activities
Repayments of amounts due to related party		(20,000	)		(22,000	)		(19,000	)		-			-			(15,200	)
Repayments of bridge financing, related party		(310,000	)		(408,000	)		(356,000	)		-			-			(290,000	)
Net proceeds from the issuance of membership units		360,526			470,558			410,024			-			-			337,215
Distributions		(1,597	)		(1,830	)		-			(8,139	)		-			-
Net cash provided by (used in) financing activities		28,929			38,728			35,024			(8,139	)		-			32,015
Net change in cash		18,470			10,512			28,590			(437	)		-			25,552
Cash at beginning of the period		-			-			-			18,879			-			-
Cash at end of the period	$	18,470		$	10,512		$	28,590		$	18,442		$	-		$	25,552

Cash paid for income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	3,677		$	6,822		$	5,468		$	-		$	1,687		$	1,748

Supplemental disclosure of non-cash financing activities:
Advance from related party for acquisition of property	$	20,000		$	22,000		$	19,000		$	-		$	18,900		$	15,200
Acquisition of property - purchase price	$	330,000		$	430,000		$	375,000		$	-		$	364,900		$	305,200
Bridge financing, related party	$	310,000		$	408,000		$	356,000		$	-		$	346,000		$	290,000
Property improvements advanced from related party	$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from manager	$	3,677		$	4,363		$	5,468		$	-		$	-		$	1,748

See the accompanying notes to the consolidated and consolidating financial statements.

F-72

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Monroe			Nathan			Poshington			Pumpkin			Raider			Sambino

Cash Flows from Operating Activities:
Net loss	$	(2,337	)	$	(7,205	)	$	(3,812	)	$	(11,500	)	$	(1,869	)	$	(9,947	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		-			-			-			3,003			-			3,451
(Increase) Decrease in assets
Due from (to) third party property managers		-			1,128			235			(4,826	)		-			(4,697	)
Increase (decrease) in liabilities
Accrued expenses		2,583			2,796			1,838			2,762			3,855			(6,161	)
Tenant deposits		-			-			-			2,545			-			2,645
Due to (from) related parties		(246	)		3,281			1,740			1,359			(1,986	)		9,567
Net cash provided by (used in) operating activities		-			-			-			(6,657	)		-			(5,142	)
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			(17,833	)		-			(18,078	)
Repayments of bridge financing, related party		-			-			-			(308,492	)		-			(281,847	)
Net proceeds from the issuance of membership units		-			-			-			359,521			-			332,102
Distributions		-			-			-			(4,038	)		-			(5,558	)
Net cash provided by (used in) financing activities		-			-			-			29,157			-			26,619
Net change in cash		-			-			-			22,500			-			21,476
Cash at beginning of the period		-			-			-			-			-			-
Cash at end of the period	$	-		$	-		$	-		$	22,500		$	-		$	21,476

Cash paid for income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	1,687		$	1,482		$	2,210		$	3,728		$	1,297		$	3,230

Supplemental disclosure of non-cash financing activities:
Advance from related party for acquisition of property	$	18,900		$	9,000		$	19,000		$	17,833		$	18,000		$	18,078
Acquisition of property - purchase price	$	364,900		$	180,000		$	379,000		$	326,325		$	360,000		$	299,925
Bridge financing, related party	$	346,000		$	171,000		$	360,000		$	308,492		$	342,000		$	281,847
Property improvements advanced from related party	$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from manager	$	-		$	-		$	-		$	3,728		$	-		$	4,874

See the accompanying notes to the consolidated and consolidating financial statements.

F-73

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Sandpiper			Scarlett			Sinalda			Stonemill			Targaryen			Tilly

Cash Flows from Operating Activities:
Net loss	$	(1,500	)	$	(20,116	)	$	(20,043	)	$	(15,138	)	$	(9,878	)	$	(12,796	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		-			999			2,657			-			892			897
(Increase) Decrease in assets
Due from (to) third party property managers		-			9,963			2,828			1,676			(563	)		11,748
Increase (decrease) in liabilities
Accrued expenses		706			8,609			4,767			5,464			2,395			5,944
Tenant deposits		-			-			-			-			-			-
Due to (from) related parties		794			545			73			7,997			(4,360	)		4,923
Net cash provided by (used in) operating activities		-			-			(9,717	)		-			(11,513	)		10,716
Cash flows from financing activities
Repayments of amounts due to related party		-			-			(19,949	)		-			(15,000	)		-
Repayments of bridge financing, related party		-			-			(369,000	)		-			(373,000	)		-
Net proceeds from the issuance of membership units		-			-			422,948			-			424,311			-
Distributions		-			-			-			-			-			-
Net cash provided by (used in) financing activities		-			-			33,999			-			36,311			-
Net change in cash		-			-			24,282			-			24,797			10,716
Cash at beginning of the period		-			-			-			-			-			-
Cash at end of the period	$	-		$	-		$	24,282		$	-		$	24,797		$	10,716

Cash paid for income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	268		$	7,280		$	5,453		$	3,674		$	5,549		$	3,544

Supplemental disclosure of non-cash financing activities:
Advance from related party for acquisition of property	$	20,390		$	22,000		$	19,949		$	20,000		$	15,000		$	16,000
Acquisition of property - purchase price	$	391,390		$	438,000		$	388,949		$	390,000		$	388,000		$	310,000
Bridge financing, related party	$	371,000		$	416,000		$	369,000		$	370,000		$	373,000		$	294,000
Property improvements advanced from related party	$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from manager	$	-		$	-		$	3,229		$	-		$	3,300		$	-

See the accompanying notes to the consolidated and consolidating financial statements.

F-74

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Troncos			Tully			Tyrell			Vega			Wasilla			Wendover

Cash Flows from Operating Activities:
Net loss	$	(19,637	)	$	(21,438	)	$	(12,778	)	$	(10,994	)	$	(19,236	)	$	(5,811	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		3,197			2,192			1,479			891			2,317			-
(Increase) Decrease in assets
Due from (to) third party property managers		(2,184	)		709			(1,107	)		(707	)		1,255			2,109
Increase (decrease) in liabilities
Accrued expenses		4,768			5,279			4,593			2,023			2,351			4,429
Tenant deposits		-			-			-			-			-			-
Due to (from) related parties		(646	)		2,536			(1,330	)		(1,168	)		58,753			(728	)
Net cash provided by (used in) operating activities		(14,502	)		(10,722	)		(9,143	)		(9,955	)		45,441			-
Cash flows from financing activities
Repayments of amounts due to related party		(17,500	)		(24,105	)		(20,599	)		(21,390	)		(21,000	)		-
Repayments of bridge financing, related party		(332,500	)		(457,000	)		(300,886	)		(370,000	)		(394,000	)		-
Net proceeds from the issuance of membership units		381,859			520,752			354,803			425,168			375,129			-
Distributions		(2,138	)		-			-			-			-			-
Net cash provided by (used in) financing activities		29,721			39,647			33,318			33,778			(39,871	)		-
Net change in cash		15,219			28,925			24,175			23,823			5,570			-
Cash at beginning of the period		-			-			-			-			-			-
Cash at end of the period	$	15,219		$	28,925		$	24,175		$	23,823		$	5,570		$	-

Cash paid for income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	10,252		$	8,886		$	5,558		$	5,396		$	7,738		$	2,185

Supplemental disclosure of non-cash financing activities:
Advance from related party for acquisition of property	$	17,500		$	24,105		$	20,599		$	21,390		$	21,000		$	19,000
Acquisition of property - purchase price	$	350,000		$	481,105		$	321,485		$	391,390		$	415,000		$	375,000
Bridge financing, related party	$	332,500		$	457,000		$	300,886		$	370,000		$	394,000		$	356,000
Property improvements advanced from related party	$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from manager	$	8,174		$	6,220		$	3,803		$	5,396		$	7,738		$	-

See the accompanying notes to the consolidated and consolidating financial statements.

F-75

ARRIVED HOMES 5, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Whippoorwill			Windgate			Wyndsong			Consolidated

Cash Flows from Operating Activities:
Net loss	$	(9,760	)	$	(11,717	)	$	(20,421	)	$	(542,924	)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation		-			695			-			56,556
(Increase) Decrease in assets
Due from (to) third party property managers		4,985			(3,552	)		16,887			64,912
Increase (decrease) in liabilities
Accrued expenses		5,199			2,124			4,733			140,213
Tenant deposits		-			-			-			7,285
Due to (from) related parties		2,154			2,267			(1,199	)		93,347
Net cash provided by (used in) operating activities		2,579			(10,183	)		-			(73,423	)
Cash flows from financing activities
Repayments of amounts due to related party		-			(15,600	)		-			(403,483	)
Repayments of bridge financing, related party		-			(287,000	)		-			(7,532,559	)
Net proceeds from the issuance of membership units		-			333,979			-			8,611,974
Distributions		-			-			-			(28,607	)
Net cash provided by (used in) financing activities		-			31,379			-			647,325
Net change in cash		2,579			21,196			-			81,553
Cash at beginning of the period		-			-			-			18,879
Cash at end of the period	$	2,579		$	21,196		$	-		$	485,594

Cash paid for income taxes	$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	3,068		$	3,070		$	2,093		$	170,907

Supplemental disclosure of non-cash financing activities:
Advance from related party for acquisition of property	$	19,000		$	15,600		$	18,000		$	802,798
Acquisition of property - purchase price	$	373,000		$	302,600		$	359,000		$	15,645,675
Bridge financing, related party	$	354,000		$	287,000		$	341,000		$	14,842,877
Property improvements advanced from related party	$	-		$	-		$	-		$	-
Deemed contribution from manager	$	-		$	3,070		$	-		$	94,899

See the accompanying notes to the consolidated and consolidating financial statements.

F-76

ARRIVED HOMES 5, LLC AND ITS SERIES

NOTES TO THE UNAUDITED CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS

NOTE 1: NATURE OF OPERATIONS

Arrived Homes 5, LLC (the “Company”) is a Delaware series limited liability company formed on July 12, 2024, under the laws of the State of Delaware. Arrived Homes 5, LLC was formed to permit public investment in individual single-family rental homes, each of which will be held by a separate property-owning subsidiary owned by a separate series of limited liability interests that Arrived Fund Manager, LLC (the “manager”) establishes. As a Delaware series limited liability company, the debts, liabilities, obligations, and expenses incurred, contracted for or otherwise existing with respect to a particular series are segregated and enforceable only against the assets of such series, as provided under Delaware law.

The following list represents each series of Arrived Homes 5, LLC and the wholly owned limited liability company, which was used to acquire the single-family rental property for each series, along with the date the series was formed and the date the series LLC acquired the single-family rental property.

F-77

SERIES OFFERING TABLE

As of June 30, 2026

Series Name	State LLC Name and wholly owned subsidiary of the Series	Date Formed	Acquisition Date
Arrived Series Adela, a series of Arrived Homes 5, LLC (Adela)	Arrived OK Adela, LLC	3/27/2025	4/30/2025
Arrived Series Adler, a series of Arrived Homes 5, LLC (Adler)	Arrived AR Adler, LLC	3/28/2025	4/2/2025
Arrived Series Alex, a series of Arrived Homes 5, LLC (Alex)	Arrived AZ Alex, LLC	2/20/2025	2/28/2025
Arrived Series Ameris, a series of Arrived Homes 5, LLC (Ameris)	Arrived OK Ameris, LLC	2/28/2025	3/12/2025
Arrived Series Arbolado, a series of Arrived Homes 5, LLC (Arbolado)	Arrived NM Arbolado, LLC	4/23/2025	4/30/2025
Arrived Series Arthur, a series of Arrived Homes 5, LLC (Arthur)	Arrived VA Arthur, LLC	11/17/2025	11/26/2025
Arrived Series Ashland, a series of Arrived Homes 5, LLC (Ashland)	Arrived TN Ashland, LLC	6/20/2025	7/23/2025
Arrived Series Belleglade, a series of Arrived Homes 5, LLC (Belleglade)	Arrived KY Belleglade, LLC	3/18/2025	3/28/2025
Arrived Series Blair, a series of Arrived Homes 5, LLC (Blair)	Arrived TN Blair, LLC	4/30/2025	5/7/2025
Arrived Series Briarmanor, a series of Arrived Homes 5, LLC (Briarmanor)	Arrived MO Briarmanor, LLC	4/30/2025	5/7/2025
Arrived Series Caldwell, a series of Arrived Homes 5, LLC (Caldwell)	Arrived IN Caldwell, LLC	11/17/2025	11/26/2025
Arrived Series Camila, a series of Arrived Homes 5, LLC (Camila)	Arrived AR Camila, LLC	6/17/2025	7/9/2025
Arrived Series Camphor, a series of Arrived Homes 5, LLC (Camphor)	Arrived Series Camphor, a series of Arrived Homes 5, LLC	2/6/2025	2/19/2025
Arrived Series Chadwick, a series of Arrived Homes 5, LLC (Chadwick)	Arrived MS Chadwick, LLC	4/24/2026	5/6/2026
Arrived Series Chalkstone, a series of Arrived Homes 5, LLC (Chalkstone)	Arrived AR Chalkstone, LLC	11/12/2025	12/10/2025
Arrived Series Chesterton, a series of Arrived Homes 5, LLC (Chesterton)	Arrived WA Chesterton, LLC	6/5/2025	6/18/2025
Arrived Series Chloe, a series of Arrived Homes 5, LLC (Chloe)	Arrived AR Chloe, LLC	3/19/2025	10/22/2025
Arrived Series Clark, a series of Arrived Homes 5, LLC (Clark)	Arrived AR Clark, LLC	7/19/2024	9/25/2024
Arrived Series Cyrus, a series of Arrived Homes 5, LLC (Cyrus)	Arrived AZ Cyrus, LLC	3/27/2025	4/9/2025
Arrived Series Evie, a series of Arrived Homes 5, LLC (Evie)	Arrived Series Evie, a series of Arrived Homes 5, LLC	5/1/2025	5/21/2025
Arrived Series Farinosa, a series of Arrived Homes 5, LLC (Farinosa)	Arrived NM Farinosa, LLC	11/25/2025	12/10/2025
Arrived Series Fizzy, a series of Arrived Homes 5, LLC (Fizzy)	Arrived TN Fizzy, LLC	5/15/2025	7/2/2025
Arrived Series Fortress, a series of Arrived Homes 5, LLC (Fortress)	Arrived MS Fortress, LLC	3/19/2025	3/26/2025
Arrived Series Galleta, a series of Arrived Homes 5, LLC (Galleta)	Arrived NC Galleta, LLC	6/18/2025	6/25/2025
Arrived Series Gavin, a series of Arrived Homes 5, LLC (Gavin)	Arrived GA Gavin, LLC	11/17/2025	12/5/2025
Arrived Series Gerardo, a series of Arrived Homes 5, LLC (Gerardo)	Arrived TN Gerardo, LLC	5/1/2025	5/14/2025
Arrived Series Goldfinger, a series of Arrived Homes 5, LLC (Goldfinger)	Arrived UT Goldfinger, LLC	1/14/2025	1/29/2025
Arrived Series Goshen, a series of Arrived Homes 5, LLC (Goshen)	Arrived OH Goshen, LLC	11/19/2025	11/26/2025
Arrived Series Gracianna, a series of Arrived Homes 5, LLC (Gracianna)	Arrived OH Gracianna, LLC	8/12/2025	8/20/2025
Arrived Series Haynes, a series of Arrived Homes 5, LLC (Haynes)	Arrived TN Haynes, LLC	3/17/2026	3/25/2026
Arrived Series Hendricks, a series of Arrived Homes 5, LLC (Hendricks)	Arrived IN Hendricks, LLC	5/1/2025	5/14/2025
Arrived Series Kanan, a series of Arrived Homes 5, LLC (Kanan)	Arrived MS Kanan, LLC	3/11/2026	3/25/2026
Arrived Series Kitsune, a series of Arrived Homes 5, LLC (Kitsune)	Arrived TN Kitsune, LLC	11/25/2025	12/3/2025
Arrived Series Lancer, a series of Arrived Homes 5, LLC (Lancer)	Arrived AR Lancer, LLC	11/25/2025	2/4/2026
Arrived Series Lenka, a series of Arrived Homes 5, LLC (Lenka)	Arrived KY Lenka, LLC	2/20/2025	2/28/2025
Arrived Series Liam, a series of Arrived Homes 5, LLC (Liam)	Arrived VA Liam, LLC	2/13/2025	2/26/2025
Arrived Series Lilinoe, a series of Arrived Homes 5, LLC (Lilinoe)	Arrived MO Lilinoe, LLC	3/27/2025	4/2/2025
Arrived Series Lois, a series of Arrived Homes 5, LLC (Lois)	Arrived AR Lois, LLC	7/19/2024	9/25/2024
Arrived Series Lucky, a series of Arrived Homes 5, LLC (Lucky)	Arrived TN Lucky, LLC	11/18/2025	11/26/2025
Arrived Series Marilyn, a series of Arrived Homes 5, LLC (Marilyn)	Arrived OH Marilyn, LLC	2/13/2025	6/4/2025
Arrived Series Metcalf, a series of Arrived Homes 5, LLC (Metcalf)	Arrived MS Metcalf, LLC	3/6/2025	3/14/2025
Arrived Series Monroe, a series of Arrived Homes 5, LLC (Monroe)	Arrived OH Monroe, LLC	5/20/2025	6/4/2025
Arrived Series Nathan, a series of Arrived Homes 5, LLC (Nathan)	Arrived AR Nathan, LLC	4/25/2025	5/14/2025
Arrived Series Orland, a series of Arrived Homes 5, LLC (Orland)	Arrived AR Orland, LLC	12/3/2025	12/29/2025
Arrived Series Ozark, a series of Arrived Homes 5, LLC (Ozark)	Arrived NC Ozark, LLC	3/10/2026	3/18/2026
Arrived Series Parker, a series of Arrived Homes 5, LLC (Parker)	Arrived VA Parker, LLC	11/25/2025	12/3/2025
Arrived Series Poshington, a series of Arrived Homes 5, LLC (Poshington)	Arrived VA Poshington, LLC	5/13/2025	5/28/2025
Arrived Series Preston, a series of Arrived Homes 5, LLC (Preston)	Arrived AR Preston, LLC	3/9/2026	3/25/2026
Arrived Series Pumpkin, a series of Arrived Homes 5, LLC (Pumpkin)	Arrived TN Pumpkin, LLC	1/23/2025	1/29/2025
Arrived Series Raider, a series of Arrived Homes 5, LLC (Raider)	Arrived OH Raider, LLC	6/3/2025	6/11/2025

F-78

Series Name	State LLC Name and wholly owned subsidiary of the Series	Date Formed	Acquisition Date
Arrived Series Rivendell, a series of Arrived Homes 5, LLC (Rivendell)	Arrived Series Rivendell, a series of Arrived Homes 5, LLC	8/13/2025	8/27/2025
Arrived Series Rosalee, a series of Arrived Homes 5, LLC (Rosalee)	Arrived AR Rosalee, LLC	2/12/2026	3/4/2026
Arrived Series Rucker, a series of Arrived Homes 5, LLC (Rucker)	Arrived TN Rucker, LLC	11/26/2025	12/10/2025
Arrived Series Sambino, a series of Arrived Homes 5, LLC (Sambino)	Arrived TN Sambino, LLC	11/21/2024	12/4/2024
Arrived Series Sandpiper, a series of Arrived Homes 5, LLC (Sandpiper)	Arrived AZ Sandpiper, LLC	6/19/2025	6/27/2025
Arrived Series Scarlett, a series of Arrived Homes 5, LLC (Scarlett)	Arrived AR Scarlett, LLC	3/19/2025	4/2/2025
Arrived Series Sinalda, a series of Arrived Homes 5, LLC (Sinalda)	Arrived AZ Sinalda, LLC	2/20/2025	2/28/2025
Arrived Series Stonemill, a series of Arrived Homes 5, LLC (Stonemill)	Arrived AR Stonemill, LLC	4/22/2025	5/7/2025
Arrived Series Targaryen, a series of Arrived Homes 5, LLC (Targaryen)	Arrived VA Targaryen, LLC	4/9/2025	4/23/2025
Arrived Series Terrien, a series of Arrived Homes 5, LLC (Terrien)	Arrived TN Terrien, LLC	3/5/2025	7/23/2025
Arrived Series Tilly, a series of Arrived Homes 5, LLC (Tilly)	Arrived TN Tilly, LLC	4/25/2025	4/30/2025
Arrived Series Troncos, a series of Arrived Homes 5, LLC (Troncos)	Arrived AR Troncos, LLC	12/13/2024	1/15/2025
Arrived Series Tully, a series of Arrived Homes 5, LLC (Tully)	Arrived CO Tully, LLC	2/28/2025	3/12/2025
Arrived Series Tyrell, a series of Arrived Homes 5, LLC (Tyrell)	Arrived TN Tyrell, LLC	3/5/2025	3/19/2025
Arrived Series Vega, a series of Arrived Homes 5, LLC (Vega)	Arrived AZ Vega, LLC	3/27/2025	4/9/2025
Arrived Series Wasilla, a series of Arrived Homes 5, LLC (Wasilla)	Arrived NM Wasilla, LLC	3/5/2025	3/21/2025
Arrived Series Wendover, a series of Arrived Homes 5, LLC (Wendover)	Arrived GA Wendover, LLC	5/20/2025	5/28/2025
Arrived Series Wesley, a series of Arrived Homes 5, LLC (Wesley)	Arrived OK Wesley, LLC	5/20/2025	9/17/2025
Arrived Series Whippoorwill, a series of Arrived Homes 5, LLC (Whippoorwill)	Arrived TN Whippoorwill, LLC	5/1/2025	5/14/2025
Arrived Series Wildcat, a series of Arrived Homes 5, LLC (Wildcat)	Arrived TN Wildcat, LLC	6/20/2025	7/23/2025
Arrived Series William, a series of Arrived Homes 5, LLC (William)	Arrived IN William, LLC	9/3/2025	9/17/2025
Arrived Series Windgate, a series of Arrived Homes 5, LLC (Windgate)	Arrived MS Windgate, LLC	4/23/2025	4/30/2025
Arrived Series Wyndsong, a series of Arrived Homes 5, LLC (Wyndsong)	Arrived NC Wyndsong, LLC	5/13/2025	5/28/2025

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accounting and reporting policies of the series conform to accounting principles generally accepted in the United States of America (GAAP). The series has adopted a calendar year as its fiscal year.

The Company is an emerging growth company as the term is used in the Jumpstart Our Business Startups Act, enacted on April 5, 2012, and has elected to comply with certain reduced public company reporting requirements; however, the Company may adopt accounting standards based on the effective dates for private entities.

The accompanying unaudited consolidated and consolidating financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission for interim financial reporting. In the opinion of management, all adjustments necessary for a fair presentation of the interim financial statements have been included and are of a normal recurring nature.

These interim financial statements do not include all of the information and footnotes required by GAAP for complete annual financial statements and should be read in conjunction with the Company’s audited financial statements and related notes as of and for the year ended December 31, 2025, included in the Company’s Annual Report on Form 1-K. The December 31, 2025 balance sheet presented herein has been derived from those audited financial statements.

F-79

Principles of Consolidation

These consolidated and consolidating financial statements include the accounts of Arrived Homes 5, LLC and its series. All intercompany transactions and balances have been eliminated upon consolidation.

Use of Estimates

The preparation of the consolidated and consolidating financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the consolidated and consolidating financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates.

Deferred Offering Costs

The Company and each series comply with the requirements of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 340-10-S99-1 with regard to offering costs. Prior to the completion of an offering, offering costs are capitalized. The deferred offering costs are charged to members’ equity upon the completion of an offering or to expense if the offering is not completed. Offering costs include offering expense reimbursements and sourcing fees as noted below.

Per the operating agreement, the manager is eligible to receive up to a maximum of 2% of the gross offering proceeds per the series offering, as reimbursement for offering expenses including legal, accounting, escrow, underwriting, filing, and compliance costs, as applicable, related to a specific offering.

Upon completion of an offering, the series may also be required to pay the manager sourcing fees as defined in the offering documents. The manager is responsible for sourcing and analyzing the series’ property.

Fair Value of Financial Instruments

FASB guidance specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities.

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active).

Level 3 – Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows, or similar techniques and at least one significant model assumption or input is unobservable.

The carrying amounts of the Company’s consolidated and consolidating financial instruments, such as cash and accrued expenses, approximate fair value due to the short-term nature of these instruments. The carrying values of the bridge financing, related party, approximate their fair values based on interest rates and terms currently available for similar instruments.

F-80

Management Compensation

The manager will receive from each series an annual asset management fee equal to six-tenths of a percent (0.6%) of the purchase price of the series property for that series, paid out of the series’ net operating rental income on a quarterly basis. Additionally, pursuant to the operating agreement, the manager will receive reimbursements for out-of-pocket expenses in connection with the Company’s organization and offerings (up to a maximum of 2% of the gross offering proceeds per series offering) and in connection with the Company’s operations and the acquisition of properties and in connection with third parties providing services to the Company. The manager may also receive a portion of the property management fee, which will be equal to the difference between eight percent (8%) and the amount actually charged by the property manager when the series property is occupied, and the property disposition fee as described below. With respect to the operating accounts for each series that the manager maintains with a third-party bank, the manager will be entitled to receive any interest earned on the cash balances in such accounts. The manager reserves the right to waive any fees or reimbursements it is due in its sole discretion.

Property Management Fee

The Company will appoint an affiliate of the manager or a third-party property management company to serve as property manager to manage the property of each series pursuant to a property management agreement. The fee arrangement for the property management company is set forth below:

Marketplace Homes

As compensation for the services provided by the property manager, each series will be charged a property management fee of $70 on a monthly basis and paid to the property manager pursuant to the property management agreement.

Property Disposition Fee

Upon the disposition and sale of the series’ property, the manager will charge the series a market-rate property disposition fee that will cover property sale expenses such as brokerage commissions, title, escrow, and closing costs. It is expected that the disposition fee charged to the series will range from six to seven percent of the property sale price. To the extent that the actual property disposition fees are less than the amount charged to the series, the manager will receive the difference.

Scaled Acquisition Fee

As a result of the manager’s relationships and transaction volume with certain sellers, the manager may be able to negotiate purchase price incentives, discounts or other reductions to or rebates on the purchase price of a series property that are not generally available to other purchasers. For each such series, the manager may charge a scaled acquisition fee equal to the lesser of (i) 20% of any such incentive or discount and (ii) $10,000. This fee will be paid from, and increase the total amount of, funds allocated to the acquisition of the series property at the closing of the offering.

Accrued Expenses

Accrued expenses include accrued property taxes and interest payable on the bridge financing for the series.

F-81

Due From (To) Third-Party Property Managers

Due from (to) third-party property managers are uncollateralized obligations due under normal trade terms generally requiring payment within 30 days from the approved prior-month financial statements. Due from (to) property managers are presented net of receipts and expenses for the reported month. The Company uses a loss-rate approach based on historical loss information, adjusted for management’s expectations about current and future economic conditions, as the basis to determine expected cash receipts and distributions. Management exercises significant judgment in determining expected credit losses. Key inputs include macroeconomic factors, industry trends, and the creditworthiness of counterparties. Management believes that the composition of receivables at period-end is consistent with historical conditions as credit terms and practices and the property managers have not changed significantly. The Company and series determined it was not necessary to record an allowance for credit losses as of June 30, 2026 and December 31, 2025.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation. The series’ property and equipment includes the cost of the purchased property, including the building and related land. The Company allocates certain capitalized title fees and relevant acquisition expenses to the capitalized costs of the building. All capitalized property costs, except for the value attributable to the land, are depreciated using the straight-line method over the estimated useful life of 27.5 years. Additions and property improvements in excess of $5,000 are capitalized and depreciated using the straight-line method over the estimated useful lives of 5-7 years, while routine repairs and maintenance are charged to expense as incurred. At the time of retirement or other disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the statement of comprehensive loss.

Impairment of Long-Lived Assets

The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. The Company did not record any impairment losses on long-lived assets for the six months ended June 30, 2026 and 2025.

Tenant Deposits

Tenant deposit liabilities represent security deposits received from tenant customers. This encompasses deposits administered by property management entities and liabilities associated with tenant deposits.

Operating Expenses

The series is responsible for the costs and expenses attributable to the activities of the series. The manager will bear its own expenses of an ordinary nature. If the operating expenses exceed the amount of revenues generated from a series property and cannot be covered by any operating expense reserves on the balance sheet of the series, the manager may (a) pay such operating expenses and not seek reimbursement, in which case the expenses would be recognized by the series with a credit to contributed capital, (b) loan the amount of the operating expenses to the series, on which the manager may impose a reasonable rate of interest and be entitled to reimbursement of such amount from future revenues generated by the series’ property, and/or (c) cause additional interests to be issued in the series in order to cover such additional amounts.

F-82

Revenue Recognition

The Company’s rental arrangements are accounted for as operating leases under ASC 842, Leases. Rental income is recognized on a straight-line basis over the applicable lease term when collectability is probable. Variable lease payments and other tenant charges are recognized in the period in which the related amounts are earned. Tenant security deposits are not recognized as revenue unless and until the Company becomes entitled to retain them.

Comprehensive Income (Loss)

The Company follows FASB ASC 220 in reporting comprehensive loss. Comprehensive income (loss) is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income (loss). Since the Company has no items of other comprehensive loss, comprehensive income (loss) is equal to net income (loss).

Organizational Costs

In accordance with FASB ASC 720, Organizational Costs, including accounting fees, legal fees, and costs of incorporation, are expensed as incurred.

Income Taxes

The Company is organized as an LLC for legal purposes and has elected to be treated as a C corporation for tax purposes, pursuant to subchapter C of the Internal Revenue Code.

Furthermore, each series complies with the requirements to be a Real Estate Investment Trust (“REIT”), a special type of C corporation that files tax form 1120-REIT. A REIT may not be required to pay income tax at the corporate level because this form of corporation is permitted to deduct dividends paid to members as an expense. Therefore, if a REIT paid out all profit and capital gains to its members, it could potentially report no taxable income. Tax losses of REITs are not allocated directly to members but, under current law, losses may be accumulated and carried forward indefinitely and be used to offset up to 80% of taxable income in any future year, thereby reducing the reported taxable income of the REIT.

F-83

Most states give REITs a deduction for dividends paid. Since the series generally pay dividends in excess of the taxable income generated, there would be no state tax liability in these states. In states that do not give a deduction for dividends paid, there may be a state income tax due that is assessed based on the tax table for that particular state. There is no state tax liability for members based on the locations of properties held in the REITs. The rules for state tax loss carryforwards vary by state as some conform to the federal rules while others have restrictions on timeframes and/or the percentage of loss that can be carried forward.

Recently Issued and Not Yet Adopted and Adopted Accounting Pronouncements

In November 2024, the FASB issued ASU 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses,” which requires the disaggregated disclosure of specific expense categories, including purchases of inventory, employee compensation, depreciation, and amortization included in each relevant expense caption presented on the statement of operations. The standard also requires disclosure of a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, as well as the total amount of selling expenses and an entity’s definition of selling expenses. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. The Company is currently evaluating the impact this standard will have on its financial statements.

Management does not believe that any other recently issued, but not yet effective, accounting standards could have a material effect on the accompanying consolidated and consolidating financial statements. As new accounting pronouncements are issued, the Company will adopt those that are applicable under the circumstances.

NOTE 3: GOING CONCERN

The accompanying consolidated and consolidating financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has had a lack of liquidity and nominal cash since inception. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The Company’s ability to continue as a going concern in the next twelve months from the filing of this Semiannual Report is dependent upon its ability to continue to generate cash flow from its rental properties and/or obtain financing from the manager. However, there are no assurances that the Company can continue to generate cash flow from its rental properties or that the manager will always be in the position to provide funding when needed. The consolidated and consolidating financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

F-84

NOTE 4: PROPERTY AND EQUIPMENT

Property and equipment, net consists of the following:

June 30, 2026

Series	Building		Land		Property Improvements		Total		Less: Accumulated Depreciation			Property and equipment, net
Adela	$	177,694	$	59,275	$	-	$	236,969	$	(7,000	)	$	229,969
Adler		269,931		91,250		-		361,181		(10,634	)		350,547
Alex		262,081		87,169		-		349,250		(11,913	)		337,337
Ameris		189,859		63,274		-		253,133		(8,055	)		245,078
Arbolado		255,659		85,000		-		340,659		(10,071	)		330,587
Arthur		318,368		105,000		-		423,368		(5,789	)		417,580
Ashland		260,931		85,946		-		346,877		(7,907	)		338,970
Belleglade		283,916		93,725		-		377,641		(12,045	)		365,596
Blair		263,735		87,500		-		351,235		(9,590	)		341,645
Briarmanor		300,263		100,000		10,049		410,312		(13,263	)		397,049
Caldwell		216,827		72,792		-		289,618		(3,942	)		285,676
Camila		276,556		91,768		17,236		385,560		(11,828	)		373,733
Camphor		199,512		66,250		6,875		272,637		(10,902	)		261,735
Chadwick		255,343		85,000		-		340,343		-			340,343
Chalkstone		288,063		96,250		13,650		397,963		(6,830	)		391,132
Chesterton		405,018		134,500		-		539,518		(13,501	)		526,018
Chloe		240,853		80,000		-		320,853		(5,109	)		315,744
Clark		240,284		82,500		-		322,784		(14,563	)		308,221
Cyrus		294,143		97,848		-		391,990		(11,587	)		380,403
Evie		195,526		64,750		-		260,276		(7,110	)		253,166
Farinosa		248,583		83,750		5,500		337,833		(4,978	)		332,855
Fizzy		278,371		91,703		-		370,073		(8,436	)		361,638
Fortress		271,420		90,000		7,975		369,395		(13,508	)		355,886
Galleta		220,755		73,148		-		293,903		(7,358	)		286,545
Gavin		288,127		95,000		12,236		395,363		(5,835	)		389,528
Gerardo		279,524		92,090		-		371,614		(10,164	)		361,450
Goldfinger		410,340		137,473		-		547,813		(19,895	)		527,918
Goshen		298,659		98,580		7,473		404,712		(6,302	)		398,410
Gracianna		253,562		83,750		5,114		342,426		(7,768	)		334,658
Haynes		265,643		87,500		-		353,143		(1,610	)		351,533
Hendricks		187,445		62,500		-		249,945		(6,816	)		243,129
Kanan		279,105		92,475		-		371,580		(1,692	)		369,888
Kitsune		273,184		90,000		-		363,184		(4,967	)		358,217
Lancer		272,818		90,000		6,079		368,897		(2,885	)		366,012
Lenka		250,306		82,500		-		332,806		(11,378	)		321,429
Liam		327,047		107,500		-		434,547		(14,866	)		419,682
Lilinoe		282,269		93,750		-		376,019		(11,120	)		364,899
Lois		240,284		82,500		5,440		328,224		(15,137	)		313,087
Lucky		286,958		95,000		-		381,958		(5,217	)		376,741
Marilyn		272,329		91,225		-		363,554		(9,078	)		354,476
Metcalf		230,983		76,300		5,217		312,500		(10,404	)		302,097
Monroe		272,829		91,225		-		364,054		(9,094	)		354,959
Nathan		135,998		45,000		-		180,998		(4,945	)		176,052
Orland		252,904		83,750		-		336,654		(4,598	)		332,056
Ozark		235,380		80,438		-		315,817		(1,427	)		314,390
Parker		299,802		99,250		13,442		412,493		(6,814	)		405,679
Poshington		284,898		94,750		15,484		395,132		(11,696	)		383,436
Preston		179,143		59,278		-		238,422		(1,086	)		237,336
Pumpkin		247,731		81,581		-		329,312		(12,011	)		317,301
Raider		269,146		90,000		5,483		364,629		(9,977	)		354,652
Rivendell		178,193		58,750		-		236,943		(4,860	)		232,083
Rosalee		269,252		88,750		6,249		364,250		(1,944	)		362,306
Rucker		307,636		101,250		-		408,886		(5,593	)		403,292
Sambino		227,757		74,981		-		302,738		(11,733	)		291,005
Sandpiper		294,093		97,848		-		391,940		(9,803	)		382,137
Scarlett		329,801		109,500		-		439,301		(12,992	)		426,309
Sinalda		292,307		97,237		-		389,544		(13,287	)		376,257
Stonemill		293,784		97,500		-		391,284		(10,683	)		380,601
Targaryen		294,372		98,250		-		392,622		(11,597	)		381,025
Terrien		314,198		103,714		-		417,912		(9,521	)		408,391
Tilly		234,773		77,500		5,570		317,843		(10,548	)		307,295
Troncos		263,733		87,500		-		351,233		(12,787	)		338,445
Tully		361,678		120,276		-		481,955		(15,344	)		466,611
Tyrell		244,055		80,371		-		324,426		(10,354	)		314,072
Vega		294,143		97,848		-		391,990		(11,587	)		380,403
Wasilla		309,135		103,750		8,875		421,760		(15,334	)		406,426
Wendover		283,505		93,750		-		377,255		(10,309	)		366,946
Wesley		196,964		65,628		-		262,592		(4,775	)		257,817
Whippoorwill		282,366		93,250		-		375,616		(10,268	)		365,348
Wildcat		242,956		80,000		-		322,956		(7,362	)		315,593
William		250,940		83,750		-		334,690		(6,083	)		328,607
Windgate		229,338		75,650		-		304,988		(9,034	)		295,954
Wyndsong		269,930		89,750		-		359,680		(9,816	)		349,864
	$	19,355,005	$	6,428,615	$	157,947	$	25,941,566	$	(648,315	)	$	25,293,251

F-85

December 31, 2025

Series	Building		Land		Property Improvements		Total		Less: Accumulated Depreciation			Property and equipment, net
Adela	$	177,694	$	59,275	$	-	$	236,969	$	(3,769	)	$	233,200
Adler		269,931		91,250		-		361,181		(5,726	)		355,455
Alex		262,081		87,169		-		349,250		(7,148	)		342,102
Ameris		189,859		63,274		-		253,133		(4,603	)		248,530
Arbolado		255,659		85,000		-		340,659		(5,423	)		335,236
Arthur		318,368		105,000		-		423,368		-			423,368
Ashland		260,931		85,946		-		346,877		(3,163	)		343,714
Belleglade		283,916		93,725		-		377,641		(6,883	)		370,758
Blair		263,735		87,500		-		351,235		(4,795	)		346,440
Briarmanor		300,263		100,000		10,049		410,312		(6,799	)		403,513
Caldwell		216,827		72,792		-		289,618		-			289,618
Camila		276,556		91,768		17,236		385,560		(5,076	)		380,485
Camphor		199,512		66,250		6,875		272,637		(6,587	)		266,050
Chalkstone		288,063		96,250		13,650		397,963		(228	)		397,735
Chesterton		405,018		134,500		-		539,518		(6,137	)		533,382
Chloe		240,853		80,000		-		320,853		(730	)		320,123
Clark		240,284		82,500		-		322,784		(10,194	)		312,590
Cyrus		294,143		97,848		-		391,990		(6,239	)		385,751
Evie		195,526		64,750		-		260,276		(3,555	)		256,721
Farinosa		248,583		83,750		-		332,333		-			332,333
Fizzy		278,371		91,703		-		370,073		(3,374	)		366,699
Fortress		271,420		90,000		7,975		369,395		(7,776	)		361,619
Galleta		220,755		73,148		-		293,903		(3,345	)		290,558
Gavin		288,127		95,000		5,110		388,237		(85	)		388,152
Gerardo		279,524		92,090		-		371,614		(5,082	)		366,532
Goldfinger		410,340		137,473		-		547,813		(12,435	)		535,379
Goshen		298,659		98,580		7,473		404,712		(125	)		404,587
Gracianna		253,562		83,750		5,114		342,426		(2,646	)		339,779
Hendricks		187,445		62,500		-		249,945		(3,408	)		246,537
Kitsune		273,184		90,000		-		363,184		-			363,184
Lenka		250,306		82,500		-		332,806		(6,827	)		325,980
Liam		327,047		107,500		-		434,547		(8,919	)		425,628
Lilinoe		282,269		93,750		-		376,019		(5,988	)		370,031
Lois		240,284		82,500		5,440		328,224		(10,587	)		317,637
Lucky		286,958		95,000		-		381,958		-			381,958
Marilyn		272,329		91,225		-		363,554		(4,126	)		359,427
Metcalf		230,983		76,300		5,217		312,500		(5,682	)		306,818
Monroe		272,829		91,225		-		364,054		(4,134	)		359,920
Nathan		135,998		45,000		-		180,998		(2,473	)		178,525
Orland		252,904		83,750		-		336,654		-			336,654
Parker		299,802		99,250		7,292		406,343		(122	)		406,222
Poshington		284,898		94,750		6,470		386,118		(5,719	)		380,399
Pumpkin		247,731		81,581		-		329,312		(7,507	)		321,805
Raider		269,146		90,000		5,483		364,629		(4,535	)		360,094
Rivendell		178,193		58,750		-		236,943		(1,577	)		235,366
Rucker		307,636		101,250		-		408,886		-			408,886
Sambino		227,757		74,981		-		302,738		(7,592	)		295,146
Sandpiper		294,093		97,848		-		391,940		(4,456	)		387,484
Scarlett		329,801		109,500		-		439,301		(6,996	)		432,306
Sinalda		292,307		97,237		-		389,544		(7,972	)		381,572
Stonemill		293,784		97,500		-		391,284		(5,342	)		385,942
Targaryen		294,372		98,250		-		392,622		(6,244	)		386,377
Terrien		314,198		103,714		-		417,912		(3,808	)		414,103
Tilly		234,773		77,500		5,570		317,843		(5,723	)		312,120
Troncos		263,733		87,500		-		351,233		(7,992	)		343,241
Tully		361,678		120,276		-		481,955		(8,768	)		473,187
Tyrell		244,055		80,371		-		324,426		(5,916	)		318,510
Vega		294,143		97,848		-		391,990		(6,239	)		385,751
Wasilla		309,135		103,750		8,875		421,760		(8,825	)		412,935
Wendover		283,505		93,750		-		377,255		(5,155	)		372,100
Wesley		196,964		65,628		-		262,592		(1,194	)		261,398
Whippoorwill		282,366		93,250		-		375,616		(5,134	)		370,482
Wildcat		242,956		80,000		-		322,956		(2,945	)		320,011
William		250,940		83,750		-		334,690		(1,521	)		333,169
Windgate		229,338		75,650		-		304,988		(4,865	)		300,123
Wyndsong		269,930		89,750		-		359,680		(4,908	)		354,772
	$	17,598,322	$	5,845,174	$	117,829	$	23,561,324	$	(305,118	)	$	23,256,206

For the six months ended June 30, 2026 and 2025, depreciation expense was $343,197 and $56,556, respectively.

F-86

NOTE 5: BRIDGE FINANCING, RELATED PARTY

The Company has obtained bridge financing from Arrived Short Term Notes, LLC, an affiliate of the manager. The following is a summary of the bridge financing by each series as of June 30, 2026 and December 31, 2025:

June 30, 2026

Series Name	Lender	Address	Bridge financing, related party		Maturity Date	Interest Rate
Arrived MS Chadwick, LLC	Arrived Short Term Notes, LLC	1802 Millers Cove, Nesbit, MS 38651	$	323,000	11/4/2027		6.50	%
Arrived AR Chalkstone, LLC	Arrived Short Term Notes, LLC	6803 SW Chalkstone Road, Bentonville, AR 72713		365,000	6/10/2027		6.50	%
Arrived AR Chloe, LLC	Arrived Short Term Notes, LLC	5066 W. Claxton Circle, Fayetteville, AR 72704		159,000	4/22/2027		6.50	%
Arrived NM Farinosa, LLC	Arrived Short Term Notes, LLC	9808 Farinosa Avenue SW, Albuquerque, NM 87121		318,000	6/10/2027		6.50	%
Arrived OH Goshen, LLC	Arrived Short Term Notes, LLC	6300 Trailview Drive, Goshen, OH 45122		374,000	5/26/2027		6.50	%
Arrived TN Haynes, LLC	Arrived Short Term Notes, LLC	346 Alta Tree Boulevard, Johnson City, TN 37604		328,699	9/23/2027		6.50	%
Arrived MS Kanan, LLC	Arrived Short Term Notes, LLC	5185 Watson View Drive, Nesbit, MS 38651		351,000	9/23/2027		6.50	%
Arrived AR Lancer, LLC	Arrived Short Term Notes, LLC	3040 Laredo Lane, Gravette, AR 72736		342,000	8/5/2027		6.50	%
Arrived TN Lucky, LLC	Arrived Short Term Notes, LLC	12318 Hatmaker Lane, Knoxville, TN 37932		361,000	5/26/2027		6.50	%
Arrived AR Orland, LLC	Arrived Short Term Notes, LLC	2644 E. Gila Way, Fayetteville, AR 72701		318,000	6/29/2027		6.50	%
Arrived NC Ozark, LLC	Arrived Short Term Notes, LLC	3514 Marksbury Drive, Greensboro, NC 27405		305,324	9/16/2027		6.50	%
Arrived AR Preston, LLC	Arrived Short Term Notes, LLC	8736 Preston Wood Drive, Fort Smith, AR 72916		225,000	9/23/2027		6.50	%
Arrived AR Rosalee, LLC	Arrived Short Term Notes, LLC	3050 Rosalee Lane, Gravette, AR 72736		337,250	9/2/2027		6.50	%
Arrived TN Rucker, LLC	Arrived Short Term Notes, LLC	8203 Watercolour Lane, Ooltewah, TN 37363		381,495	6/10/2027		6.50	%
			$	4,488,768

F-87

December 31, 2025

Series Name	Lender	Address	Bridge financing, related party		Maturity Date	Interest Rate
Arrived VA Arthur, LLC	Arrived Short Term Notes, LLC	1337 King Arthur Drive, Chesapeake, VA 23323	$	399,000	5/26/2027		6.50	%
Arrived TN Blair, LLC	Arrived Short Term Notes, LLC	1425 Willow Springs Drive, Johnson City, TN 37604		227,000	11/7/2026		6.50	%
Arrived IN Caldwell, LLC	Arrived Short Term Notes, LLC	11750 Cotterill Way, Indianapolis, IN 46235		275,372	5/26/2027		6.50	%
Arrived AR Camila, LLC	Arrived Short Term Notes, LLC	2504 Elmwood Avenue, Lowell, Arkansas 72745		356,675	1/9/2027		6.50	%
Arrived AR Chalkstone, LLC	Arrived Short Term Notes, LLC	6803 SW Chalkstone Road, Bentonville, AR 72713		365,000	6/10/2027		6.50	%
Arrived AR Chloe, LLC	Arrived Short Term Notes, LLC	5066 W. Claxton Circle, Fayetteville, AR 72704		304,000	4/22/2027		6.50	%
Arrived NM Farinosa, LLC	Arrived Short Term Notes, LLC	9808 Farinosa Avenue SW, Albuquerque, NM 87121		318,000	6/10/2027		6.50	%
Arrived GA Gavin, LLC	Arrived Short Term Notes, LLC	194 Gavin Way, Rincon, GA 31326		361,000	6/5/2027		6.50	%
Arrived OH Goshen, LLC	Arrived Short Term Notes, LLC	6300 Trailview Drive, Goshen, OH 45122		374,000	5/26/2027		6.50	%
Arrived OH Gracianna, LLC	Arrived Short Term Notes, LLC	5462 Rothermund Drive, Canal Winchester, OH 43110		318,000	2/20/2027		6.50	%
Arrived TN Kitsune, LLC	Arrived Short Term Notes, LLC	1067 Evan Court, Talbott, TN 37877		342,000	6/3/2027		6.50	%
Arrived TN Lucky, LLC	Arrived Short Term Notes, LLC	12318 Hatmaker Lane, Knoxville, TN 37932		361,000	5/26/2027		6.50	%
Arrived AR Orland, LLC	Arrived Short Term Notes, LLC	2644 E. Gila Way, Fayetteville, AR 72701		318,000	6/29/2027		6.50	%
Arrived VA Parker, LLC	Arrived Short Term Notes, LLC	3905 Harvest Crest Drive, Henrico, VA 23223		377,000	6/3/2027		6.50	%
Arrived Series Rivendell, a series of Arrived Homes 5, LLC	Arrived Short Term Notes, LLC	117 Nettle Leaf Drive, Meridianville, AL 35759		209,305	2/27/2027		6.50	%
Arrived TN Rucker, LLC	Arrived Short Term Notes, LLC	8203 Watercolour Lane, Ooltewah, TN 37363		381,495	6/10/2027		6.50	%
Arrived IN William, LLC	Arrived Short Term Notes, LLC	2324 Boneset Drive, Plainfield, IN 46168		318,000	3/17/2027		6.50	%
			$	5,604,847

Bridge financing from related parties is secured by each series’ property and bears interest-only terms, with all accrued interest due at maturity or repayment. As of June 30, 2026 and December 31, 2025, the Company had the ability and intent to extend or refinance these obligations beyond one year. Accordingly, all outstanding balances are classified as non-current liabilities in the consolidated and consolidating balance sheets.

For the six months ended June 30, 2026 and 2025, interest expense was $167,290 and $170,907, respectively.

NOTE 6: MEMBERS’ EQUITY (DEFICIT)

Each series is managed by Arrived Fund Manager, LLC, a Delaware limited liability company and managing member of the Company. Pursuant to the terms of the operating agreement, the manager will provide certain management and advisory services, as well as a management team and appropriate support personnel to the Company.

The manager will be responsible for directing the management of the series’ business and affairs, managing the day-to-day affairs, and implementing the series’ investment strategy.

The manager has a unilateral ability to amend the operating agreement and the allocation policy in certain circumstances without the consent of the investors. The investors only have limited voting rights with respect to the series. The manager has sole discretion in determining what distributions, if any, are made to interest holders except as otherwise limited by law or the operating agreement. The series expects the manager to make distributions on a monthly basis. However, the manager may change the timing of distributions or determine that no distributions shall be made, in its sole discretion.

F-88

Membership Interests

For the six months ended June 30, 2026 and 2025, the series closed on its public offerings for net proceeds of $4,203,963 and $8,611,974, respectively. The following is a summary of the public offerings by each series.

June 30, 2026
Series Name	# of Units Issued			Proceeds from the issuance of membership units			Issuance expense (1%)		Offering expense (2%)
Adela	-			$	-		$	-	$	-
Adler	-			-			-		-
Alex	-			-			-		-
Ameris	-			-			-		-
Arbolado	-			-			-		-
Arthur		50,027			463,207			5,003		10,010
Ashland		-			-			-		-
Belleglade		-			-			-		-
Blair		30,204			272,373			3,020		8,277
Briarmanor		-			-			-		-
Caldwell		35,467			318,910			3,547		7,093
Camila		45,383			420,893			4,538		9,079
Camphor		-			-			-		-
Chadwick		-			-			-		-
Chalkstone		-			-			-		-
Chesterton		(10	)		(100	)		-		-
Chloe		21,945			217,256			2,195		-
Clark		-			-			-		-
Cyrus		-			-			-		-
Evie		-			-			-		-
Farinosa		-			-			-		-
Fizzy		-			-			-		-
Fortress		-			-			-		-
Galleta		-			-			-		-
Gavin		44,869			415,270			4,487		8,983
Gerardo		-			-			-		-
Goldfinger		-			-			-		-
Goshen		25,577			253,212			2,558		-
Gracianna		40,027			370,678			4,003		8,009
Haynes		-			-			-		-
Hendricks		-			-			-		-
Kanan		-			-			-		-
Kitsune		42,769			395,956			4,277		8,557
Lancer		-			-			-		-
Lenka		-			-			-		-
Liam		-			-			-		-
Lilinoe		-			-			-		-
Lois		-			-			-		-
Lucky		-			-			-		-
Marilyn		-			-			-		-
Metcalf		-			-			-		-
Monroe		-			-			-		-
Nathan		-			-			-		-
Orland		-			-			-		-
Ozark		-			-			-		-
Parker		48,114			445,862			4,811		9,637
Poshington		-			-			-		-
Preston		-			-			-		-
Pumpkin		-			-			-		-
Raider		-			-			-		-
Rivendell		28,150			260,723			2,815		5,632
Rosalee		-			-			-		-
Rucker		-			-			-		-
Sambino		-			-			-		-
Sandpiper		-			-			-		-
Scarlett		-			-			-		-
Sinalda		-			-			-		-
Stonemill		-			-			-		-
Targaryen		-			-			-		-
Terrien		-			-			-		-
Tilly		-			-			-		-
Troncos		-			-			-		-
Tully		-			-			-		-
Tyrell		-			-			-		-
Vega		-			-			-		-
Wasilla		-			-			-		-
Wendover		-			-			-		-
Wesley		-			-			-		-
Whippoorwill		-			-			-		-
Wildcat		-			-			-		-
William		39,929			369,723			3,993		7,994
Windgate		-			-			-		-
Wyndsong		-			-			-		-

		452,451		$	4,203,963		$	45,246	$	83,271

F-89

June 30, 2025
Series Name	# of Units Issued		Proceeds from the issuance of membership units		Issuance expense (1%)		Offering expense (2%)
Adela		-	$	-	$	-	$	-
Adler		42,611		394,425		4,261		8,524
Alex		41,068		380,050		4,107		8,223
Ameris		30,125		279,041		3,013		6,027
Arbolado		-		-		-		-
Belleglade		44,291		409,937		4,429		8,864
Blair		-		-		-		-
Briarmanor		-		-		-		-
Camphor		31,559		292,218		3,156		6,316
Chesterton		-		-		-		-
Clark		38,231		353,969		3,823		7,648
Cyrus		-		-		-		-
Evie		-		-		-		-
Fortress		43,385		401,935		4,339		8,677
Galleta		-		-		-		-
Gerardo		-		-		-		-
Goldfinger		63,956		591,504		6,396		12,800
Hendricks		-		-		-		-
Lenka		38,954		360,526		3,895		7,799
Liam		50,839		470,558		5,084		10,178
Lilinoe		44,300		410,024		4,430		8,866
Lois		-		-		-		-
Marilyn		-		-		-		-
Metcalf		36,416		337,215		3,642		7,283
Monroe		-		-		-		-
Nathan		-		-		-		-
Poshington		-		-		-		-
Pumpkin		38,831		359,521		3,883		7,776
Raider		-		-		-		-
Sambino		35,859		332,102		3,586		7,172
Sandpiper		-		-		-		-
Scarlett		-		-		-		-
Sinalda		45,707		422,948		4,571		9,141
Stonemill		-		-		-		-
Targaryen		45,844		424,311		4,584		9,175
Tilly		-		-		-		-
Troncos		41,261		381,859		4,126		8,255
Tully		56,288		520,752		5,629		11,259
Tyrell		38,317		354,803		3,832		7,665
Vega		45,949		425,168		4,595		9,197
Wasilla		41,088		375,129		4,109		9,862
Wendover		-		-		-		-
Whippoorwill		-		-		-		-
Windgate		36,069		333,979		3,607		7,224
Wyndsong		-		-		-		-
		930,948	$	8,611,974	$	93,095	$	187,931

In connection with the public offering, each series incurred a brokerage fee of 1% of gross proceeds, which is paid directly to the broker and recorded as a deduction from gross proceeds. In accordance with the operating agreement, the manager received the following reimbursements, deducted from the gross proceeds of the offering. For the six months ended June 30, 2026 and 2025, the manager received the following reimbursement of fees:

●

Offering expenses: up to 2% of gross offering proceeds $83,271 and $187,931, respectively.

●

Sourcing fees: 3.5% of the purchase price of the series property $121,360 and $277,690, respectively.

●

Financing and holding costs: up to 2.5% of gross proceeds $60,670 and $138,790, respectively.

●

Scaled acquisition fee: lesser of 20% of any purchase price incentive or discount negotiated by the manager and $10,000 per series property $10,000 and $0, respectively.

F-90

Distributions

For the six months ended June 30, 2026 and 2025, distributions to investors were made by 60 and 8 series, respectively, totaling $511,537 and $28,607, respectively, which were recognized as a reduction of members’ equity.

The following table presents total distributions to investors by series for the six months ended June 30, 2026 and 2025:

Series	June 30, 2026		June 30, 2025
Adela	$	6,935	$	-
Adler		8,906		-
Alex		10,883		-
Ameris		2,500		1,024
Arbolado		8,922		-
Arthur		4,652		-
Ashland		10,526		-
Belleglade		10,453		-
Blair		5,171		-
Briarmanor		10,154		-
Caldwell		1,099		-
Camila		7,301		-
Camphor		8,016		-
Chadwick		-		-
Chalkstone		-		-
Chesterton		12,103		-
Chloe		1,712		-
Clark		6,003		4,282
Cyrus		7,587		-
Evie		8,246		-
Farinosa		-		-
Fizzy		10,074		-
Fortress		10,803		-
Galleta		7,339		-
Gavin		2,711		-
Gerardo		10,941		-
Goldfinger		10,041		-
Goshen		761		-
Gracianna		5,804		-
Haynes		-		-
Hendricks		9,918		-
Kanan		-		-
Kitsune		-		-
Lancer		-		-
Lenka		10,946		1,597
Liam		13,015		1,830
Lilinoe		10,322		-
Lois		10,202		8,139
Lucky		-		-
Marilyn		10,381		-
Metcalf		10,415		-
Monroe		6,587		-
Nathan		5,217		-
Orland		-		-
Ozark		-		-
Parker		1,540		-
Poshington		12,849		-
Preston		-		-
Pumpkin		11,067		4,038
Raider		13,682		-
Rivendell		3,547		-
Rosalee		-		-
Rucker		-		-
Sambino		9,072		5,558
Sandpiper		8,587		-
Scarlett		10,616		-
Sinalda		9,644		-
Stonemill		10,648		-
Targaryen		11,965		-
Terrien		11,547		-
Tilly		8,439		-
Troncos		8,747		2,138
Tully		10,414		-
Tyrell		9,311		-
Vega		10,063		-
Wasilla		12,712		-
Wendover		10,311		-
Wesley		6,491		-
Whippoorwill		11,528		-
Wildcat		10,858		-
William		5,430		-
Windgate		9,270		-
Wyndsong		6,550		-
	$	511,537	$	28,607

F-91

NOTE 7: RELATED PARTY TRANSACTIONS

The series’ manager, Arrived Fund Manager, LLC, is a managing member with common management of the series.

Due from (to) Related Party

The series engage in various transactions with the manager and its affiliates in the ordinary course of operating and financing activities. As of June 30, 2026 and December 31, 2025, certain series owed the manager an aggregate of $729,510 and $512,307, respectively. As of June 30, 2026 and December 31, 2025, the manager owed certain series an aggregate of $0 and $2,207, respectively. These advances are non-interest-bearing and have no stated repayment terms. Bridge financing from an affiliate of the manager is described in Note 5.

Deemed Contributions

For the six months ended June 30, 2026 and 2025, certain series received deemed contributions from the manager totaling $78,376 and $94,899, respectively, in exchange for forgiveness of amounts previously due.

Management Compensation

For the six months ended June 30, 2026 and 2025, total management compensation charged by the manager, including sourcing fees, financing and holding expenses, offering expenses, scaled acquisition fees, asset management fees, reimbursements of acquisition expenses, and property management fees, was an aggregate of $400,424 and $674,095, respectively.

F-92

The following table reflects the total management fee paid by each series during the six months ended June 30, 2026 and 2025.

June 30, 2026

Series	Sourcing fees		Financing and holding expenses		Offering expenses		Scaled acquisition fee		Asset management fee		Reimbursements of acquisition expenses		Property management fee, related party		Total
Adela	$	-	$	-	$	-	$	-	$	705	$	-	$	444	$	1,149
Adler		-		-		-		-		1,080		-		598		1,678
Alex		-		-		-		-		1,046		-		598		1,644
Ameris		-		-		-		-		753		-		215		968
Arbolado		-		-		-		-		1,020		-		598		1,618
Arthur		14,700		7,350		10,010		-		840		2,500		688		36,088
Ashland		-		-		-		-		1,031		-		730		1,761
Belleglade		-		-		-		-		1,125		-		802		1,926
Blair		12,250		6,120		8,277		-		1,050		2,500		538		30,735
Briarmanor		-		-		-		-		1,200		-		850		2,050
Caldwell		10,080		5,040		7,093		10,000		432		2,500		366		35,511
Camila		12,880		6,440		9,079		-		1,104		2,500		682		32,685
Camphor		-		-		-		-		795		-		418		1,213
Chadwick		-		-		-		-		-		-		-		-
Chalkstone		-		-		-		-		-		-		416		416
Chesterton		-		-		-		-		1,614		-		966		2,580
Chloe		-		-		-		-		640		-		358		998
Clark		-		-		-		-		965		-		703		1,668
Cyrus		-		-		-		-		1,174		-		425		1,599
Evie		-		-		-		-		777		-		454		1,231
Farinosa		-		-		-		-		-		-		114		114
Fizzy		-		-		-		-		1,100		-		646		1,746
Fortress		-		-		-		-		1,080		-		754		1,834
Galleta		-		-		-		-		878		-		394		1,271
Gavin		13,300		6,650		8,983		-		380		2,500		534		32,347
Gerardo		-		-		-		-		1,105		-		706		1,811
Goldfinger		-		-		-		-		1,650		-		778		2,427
Goshen		-		-		-		-		197		-		404		601
Gracianna		11,720		5,860		8,009		-		1,005		2,500		634		29,728
Haynes		-		-		-		-		-		-		173		173
Hendricks		-		-		-		-		750		-		562		1,312
Kanan		-		-		-		-		-		-		114		114
Kitsune		12,600		6,300		8,557		-		180		2,500		405		30,542
Lancer		-		-		-		-		-		-		-		-
Lenka		-		-		-		-		990		-		778		1,768
Liam		-		-		-		-		1,290		-		994		2,284
Lilinoe		-		-		-		-		1,125		-		837		1,962
Lois		-		-		-		-		965		-		662		1,627
Lucky		-		-		-		-		-		-		403		403
Marilyn		-		-		-		-		1,095		-		682		1,776
Metcalf		-		-		-		-		916		-		658		1,573
Monroe		-		-		-		-		1,095		-		646		1,741
Nathan		-		-		-		-		540		-		226		766
Orland		-		-		-		-		-		-		302		302
Ozark		-		-		-		-		-		-		98		98
Parker		13,890		6,940		9,637		-		397		2,500		518		33,882
Poshington		-		-		-		-		1,137		-		742		1,879
Preston		-		-		-		-		-		-		-		-
Pumpkin		-		-		-		-		979		-		694		1,673
Raider		-		-		-		-		1,080		-		1,018		2,098
Rivendell		8,220		4,110		5,632		-		705		2,500		262		21,429
Rosalee		-		-		-		-		-		-		-		-
Rucker		-		-		-		-		-		-		486		486
Sambino		-		-		-		-		900		-		634		1,533
Sandpiper		-		-		-		-		1,174		-		490		1,664
Scarlett		-		-		-		-		1,314		-		706		2,020
Sinalda		-		-		-		-		1,167		-		634		1,800
Stonemill		-		-		-		-		1,170		-		684		1,854
Targaryen		-		-		-		-		1,164		-		874		2,038
Terrien		-		-		-		-		1,241		-		838		2,079
Tilly		-		-		-		-		930		-		634		1,564
Troncos		-		-		-		-		1,050		-		514		1,564
Tully		-		-		-		-		1,443		-		893		2,336
Tyrell		-		-		-		-		964		-		586		1,550
Vega		-		-		-		-		1,174		-		658		1,832
Wasilla		-		-		-		-		1,245		-		778		2,023
Wendover		-		-		-		-		1,125		-		778		1,903
Wesley		-		-		-		-		782		-		502		1,283
Whippoorwill		-		-		-		-		1,119		-		790		1,909
Wildcat		-		-		-		-		960		-		706		1,666
William		11,720		5,860		7,994		-		838		2,500		624		29,536
Windgate		-		-		-		-		908		-		586		1,493
Wyndsong		-		-		-		-		1,077		-		422		1,499
	$	121,360	$	60,670	$	83,271	$	10,000	$	59,734	$	25,000	$	40,389	$	400,424

F-93

June 30, 2025

Series	Sourcing fees		Financing and holding expenses		Offering expenses		Scaled acquisition fee		Asset management fee		Reimbursements of acquisition expenses		Property management fee, related party		Total
Adela	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
Adler		12,600		6,300		8,524		-		180		2,500		173		30,277
Alex		12,200		6,100		8,223		-		523		2,500		-		29,546
Ameris		8,780		4,390		6,027		-		251		2,500		151		22,099
Arbolado		-		-		-		-		-		-		-		-
Belleglade		13,120		6,560		8,864		-		375		2,500		186		31,605
Blair		-		-		-		-		-		-		-		-
Briarmanor		-		-		-		-		-		-		-		-
Camphor		9,270		4,630		6,316		-		398		2,500		70		23,183
Chesterton		-		-		-		-		-		-		-		-
Clark		11,250		5,620		7,648		-		643		2,500		270		27,931
Cyrus		-		-		-		-		-		-		-		-
Evie		-		-		-		-		-		-		-		-
Fortress		12,600		6,300		8,677		-		180		2,500		127		30,384
Galleta		-		-		-		-		-		-		-		-
Gerardo		-		-		-		-		-		-		43		43
Goldfinger		19,240		9,620		12,800		-		1,100		2,500		130		45,389
Hendricks		-		-		-		-		-		-		136		136
Lenka		11,550		5,770		7,799		-		495		2,500		276		28,390
Liam		15,050		7,520		10,178		-		645		2,500		395		36,288
Lilinoe		13,120		6,560		8,866		-		188		2,500		138		31,371
Lois		-		-		-		-		973		-		548		1,521
Marilyn		-		-		-		-		-		-		-		-
Metcalf		10,680		5,340		7,283		-		305		2,500		159		26,268
Monroe		-		-		-		-		-		-		-		-
Nathan		-		-		-		-		-		-		-		-
Poshington		-		-		-		-		-		-		-		-
Pumpkin		11,420		5,710		7,776		-		653		2,500		450		28,509
Raider		-		-		-		-		-		-		-		-
Sambino		10,490		5,240		7,172		-		750		2,500		527		26,678
Sandpiper		-		-		-		-		-		-		-		-
Scarlett		-		-		-		-		-		-		-		-
Sinalda		13,610		6,800		9,141		-		583		2,500		-		32,634
Stonemill		-		-		-		-		-		-		-		-
Targaryen		13,580		6,790		9,175		-		194		2,500		191		32,430
Tilly		-		-		-		-		-		-		-		-
Troncos		12,250		6,120		8,255		-		350		2,500		257		29,732
Tully		16,830		8,410		11,259		-		481		2,500		-		39,480
Tyrell		11,250		5,620		7,665		-		321		2,500		98		27,454
Vega		13,690		6,840		9,197		-		196		2,500		122		32,544
Wasilla		14,520		7,260		9,862		-		208		2,500		-		34,350
Wendover		-		-		-		-		-		-		-		-
Whippoorwill		-		-		-		-		-		-		-		-
Windgate		10,590		5,290		7,224		-		151		2,500		98		25,853
Wyndsong		-		-		-		-		-		-		-		-
	$	277,690	$	138,790	$	187,931	$	-	$	10,142	$	55,000	$	4,542	$	674,095

F-94

NOTE 8: INCOME TAXES

The Company is taxed as a C corporation for U.S. federal income tax purposes. In connection with its real estate activities, the Company is treated as a REIT under the Internal Revenue Code.

As a REIT, the Company generally is not subject to U.S. federal income tax on taxable income that is distributed to members, provided it meets all REIT qualification requirements, including distributing at least 90% of its taxable income and satisfying certain asset and income tests. For the year ending December 31, 2026, the Company anticipates that it will qualify as a REIT. As a result, the Company does not expect to incur a current federal tax liability for the year, and thus no tax provision is reflected for series with net income for the six months ended June 30, 2026. For series with net losses for the six months ended June 30, 2026, no income tax benefit is recognized as the Company has established a full valuation allowance on the net operating loss tax benefit.

In accordance with ASC 740, Income Taxes, the Company evaluates temporary differences between the financial reporting basis and the tax basis of its assets and liabilities. As of June 30, 2026 and December 31, 2025, the Company did not have any temporary differences, other than net operating losses which were fully reserved, and thus no net deferred tax assets or liabilities were recorded.

Although the Company expects to qualify and be taxed as a REIT for U.S. federal income tax purposes, it may be subject to state and local income or franchise taxes in various jurisdictions. These taxes are generally imposed either due to the Company’s legal entity status or as a result of owning or operating real estate assets within those jurisdictions. The Company evaluates its exposure to such taxes on a jurisdictional basis. For the six months ended June 30, 2026, state income and franchise tax obligations, if any, were not material to the consolidated and consolidating financial statements.

The Company’s policy is to record interest and penalties related to unrecognized tax benefits, if any, as a component of income tax expense in the consolidated statement of comprehensive loss. As of June 30, 2026, the Company had no unrecognized tax benefits and did not incur any interest or penalties related to uncertain tax positions during the six months ended June 30, 2026. Accordingly, no accrual for uncertain tax positions was recorded as of June 30, 2026 and December 31, 2025.

The Company is not currently subject to any income tax audits in any taxing jurisdiction. However, the Company’s 2024 and 2025 tax years remain open and subject to examination by the relevant taxing authorities.

NOTE 9: SUBSEQUENT EVENTS

Subsequent to June 30, 2026, no new properties were acquired by the Company.

The following list represents the series that closed their offerings after June 30, 2026.

Offerings closed post June 30, 2026

Series

Address

Initial
Closing
Date

Amount of
Membership
Units

Initial
Raise
Amount

Farinosa

9808 Farinosa Avenue SW, Albuquerque, NM 87121

7/31/2026

40,165

401,650

Kanan

5185 Watson View Drive, Nesbit, MS 38651

7/31/2026

44,079

440,790

Orland

2644 E. Gila Way, Fayetteville, AR 72701

8/27/2026

40,802

408,020

Ozark

3514 Marksbury Drive, Greensboro, NC 27405

7/7/2026

37,168

371,680

Rucker

8203 Watercolour Lane, Ooltewah, TN 37363

7/13/2026

48,961

489,610

2,111,750

During the period from July 1, 2026 through August 31, 2026, the Company declared and paid aggregate distributions totaling $181,588.

During the period from July 1, 2026 through August 31, 2026, seven series repaid their bridge financing, related party, in full, totaling $2,206,819.

F-95

ITEM 4. EXHIBITS

Exhibit No.		Description
2.1*		Certificate of Formation of Arrived Homes 5, LLC
2.2*		Limited Liability Company Agreement of Arrived Homes 5, LLC
3.1*		Form of Series Designation of Arrived Series [*], a series of Arrived Homes 5, LLC
4.1*		Form of Subscription Agreement of Arrived Series [*], a series of Arrived Homes 5, LLC
6.1*		Broker Dealer Agreement, dated October 14, 2024 between Arrived Homes 5, LLC and Dalmore Group, LLC
6.2*		Form of Promissory Note
6.3*		Form of Property Management Agreement dated [], 202[], between Marketplace Homes and Arrived Series [*], a series of Arrived Homes 5, LLC
6.4*		NCPS PPEX ATS Company Agreement
6.5*		Secondary Brokerage Agreement
6.7*		NCIT Software and Services License Agreement
6.8*		Purchase and Sale Agreement dated June 22, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Clark Property
6.8.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Clark dated July 19, 2024 for Arrived Series Clark Property
6.9*		Purchase and Sale Agreement dated June 22, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Lois Property
6.9.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Lois dated July 19, 2024 for Arrived Series Lois Property
6.10*		Purchase and Sale Agreement dated December 16, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Goldfinger Property
6.10.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Goldfinger dated January 21, 2025 for Arrived Series Goldfinger Property
6.11*		Purchase and Sale Agreement dated December 10, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Pumpkin Property
6.11.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Pumpkin dated January 24, 2025 for Arrived Series Pumpkin Property
6.12*		Purchase and Sale Agreement dated November 5, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Sambino Property
6.12.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Sambino dated November 21, 2024 for Arrived Series Sambino Property
6.13*		Purchase and Sale Agreement dated December 10, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Troncos Property
6.13.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Troncos dated December 13, 2024 for Arrived Series Troncos Property
6.14*		Purchase and Sale Agreement dated February 10, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Alex Property
6.14.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Alex dated February 21, 2025 for Arrived Series Alex Property
6.15*		Purchase and Sale Agreement dated January 11, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Camphor Property
6.15.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Camphor dated February 6, 2025 for Arrived Series Camphor Property
6.16*		Purchase and Sale Agreement dated February 11, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Lenka Property
6.16.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Lenka dated February 21, 2025 for Arrived Series Lenka Property
6.17*		Purchase and Sale Agreement dated January 12, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Liam Property
6.17.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Liam dated February 13, 2025 for Arrived Series Liam Property
6.18*		Purchase and Sale Agreement dated February 11, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Sinalda Property
6.18.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Sinalda dated February 21, 2025 for Arrived Series Sinalda Property
6.19*		Purchase and Sale Agreement dated February 27, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Adler Property
6.19.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Adler dated March 18, 2025 for Arrived Series Adler Property
6.20*		Purchase and Sale Agreement dated February 19, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Ameris Property
6.20.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Ameris dated March 4, 2025 for Arrived Series Ameris Property
6.21*		Purchase and Sale Agreement dated February 20, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Belleglade Property
6.21.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Belleglade dated March 18, 2025 for Arrived Series Belleglade Property

Exhibit No.		Description
6.22*		Purchase and Sale Agreement dated December 4, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Metcalf Property
6.22.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Metcalf dated March 27, 2025 for Arrived Series Metcalf Property
6.23*		Purchase and Sale Agreement dated March 5, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Scarlett Property
6.23.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Scarlett dated March 19, 2025 for Arrived Series Scarlett Property
6.24*		Purchase and Sale Agreement dated February 14, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Tully Property
6.24.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Tully dated March 4, 2025 for Arrived Series Tully Property
6.25*		Purchase and Sale Agreement dated February 20, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Tyrell Property
6.25.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Tyrell dated March 5, 2025 for Arrived Series Tyrell Property
6.26*		Purchase and Sale Agreement dated March 14, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Wasilla Property
6.26.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Wasilla dated March 17, 2025 for Arrived Series Wasilla Property
6.27*		Purchase and Sale Agreement dated February 13, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Adela Property
6.27.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Adela dated March 27, 2025 for Arrived Series Adela Property
6.28*		Purchase and Sale Agreement dated April 14, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Arbolado Property
6.28.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Arbolado dated April 23, 2025 for Arrived Series Arbolado Property
6.29*		Purchase and Sale Agreement dated April 10, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Cyrus Property
6.29.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Cyrus dated March 27, 2025 for Arrived Series Cyrus Property
6.30*		Purchase and Sale Agreement dated February 11, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Fortress Property
6.30.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Fortress dated March 19, 2025 for Arrived Series Fortress Property
6.31*		Purchase and Sale Agreement dated February 11, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Lilinoe Property
6.31.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Lilinoe dated March 27, 2025 for Arrived Series Lilinoe Property
6.32*		Purchase and Sale Agreement dated March 12, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Targaryen Property
6.32.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Targaryen dated April 9, 2025 for Arrived Series Targaryen Property
6.33*		Purchase and Sale Agreement dated April 9, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Tilly Property
6.33.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Tilly dated April 25, 2025 for Arrived Series Tilly Property
6.34*		Purchase and Sale Agreement dated March 10, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Vega Property
6.34.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Vega dated March 27, 2025 for Arrived Series Vega Property
6.35*		Purchase and Sale Agreement dated April 9, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Blair Property
6.35.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Blair dated April 30, 2025 for Arrived Series Blair Property
6.36*		Purchase and Sale Agreement dated May 7, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Briarmanor Property
6.36.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Briarmanor dated April 30, 2025 for Arrived Series Briarmanor Property
6.37*		Purchase and Sale Agreement dated April 12, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Evie Property
6.37.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Evie dated May 1, 2025 for Arrived Series Evie Property
6.38*		Purchase and Sale Agreement dated February 6, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Fizzy Property
6.38.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Fizzy dated May 15, 2025 for Arrived Series Fizzy Property
6.39*		Purchase and Sale Agreement dated February 6, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Gerardo Property
6.39.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Gerardo dated May 1, 2025 for Arrived Series Gerardo Property

Exhibit No.		Description
6.40*		Purchase and Sale Agreement dated May 7, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Hendricks Property
6.40.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Hendricks dated May 1, 2025 for Arrived Series Hendricks Property
6.41*		Purchase and Sale Agreement dated May 7, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Nathan Property
6.41.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Nathan dated May 9, 2025 for Arrived Series Nathan Property
6.42*		Purchase and Sale Agreement dated April 15, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Stonemill Property
6.42.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Stonemill dated April 22, 2025 for Arrived Series Stonemill Property
6.43*		Purchase and Sale Agreement dated April 14, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Terrien Property
6.43.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Terrien dated May 14, 2025 for Arrived Series Terrien Property
6.44*		Purchase and Sale Agreement dated April 10, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Whippoorwill Property
6.44.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Whippoorwill dated May 1, 2025 for Arrived Series Whippoorwill Property
6.45*		Purchase and Sale Agreement dated April 10, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Windgate Property
6.45.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Windgate dated April 23, 2025 for Arrived Series Windgate Property
6.46*		Purchase and Sale Agreement dated April 9, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Wyndsong Property
6.46.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Wyndsong dated May 13, 2025 for Arrived Series Wyndsong Property
6.47*		Purchase and Sale Agreement dated April 18, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Ashland Property
6.47.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Ashland dated June 20, 2025 for Arrived Series Ashland Property
6.48*		Purchase and Sale Agreement dated May 25, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Chesterton Property
6.48.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Chesterton dated June 11, 2025 for Arrived Series Chesterton Property
6.49*		Purchase and Sale Agreement dated April 14, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Galleta Property
6.49.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Galleta dated June 4, 2025 for Arrived Series Galleta Property
6.50*		Purchase and Sale Agreement dated April 23, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Marilyn Property
6.50.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Marilyn dated May 20, 2025 for Arrived Series Marilyn Property
6.51*		Purchase and Sale Agreement dated April 25, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Monroe Property
6.51.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Monroe dated May 20, 2025 for Arrived Series Monroe Property
6.52*		Purchase and Sale Agreement dated April 23, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Poshington Property
6.52.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Poshington dated May 13, 2025 for Arrived Series Poshington Property
6.53*		Purchase and Sale Agreement dated June 2, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Sandpiper Property
6.53.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Sandpiper dated June 20, 2025 for Arrived Series Sandpiper Property
6.54*		Purchase and Sale Agreement dated May 14, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Raider Property
6.54.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Raider dated June 3, 2025 for Arrived Series Raider Property
6.55*		Purchase and Sale Agreement dated April 10, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Wendover Property
6.55.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Wendover dated May 20, 2025 for Arrived Series Wendover Property
6.56*		Purchase and Sale Agreement dated April 10, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Wesley Property
6.56.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Wesley dated May 20, 2025 for Arrived Series Wesley Property
6.57*		Purchase and Sale Agreement dated June 20, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Wildcat Property
6.57.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Wildcat dated June 20, 2025 for Arrived Series Wildcat Property

Exhibit No.		Description
6.58*		Purchase and Sale Agreement dated June 4, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Camila Property
6.58.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Camila dated June 24, 2025 for Arrived Series Camila Property
6.59*		Purchase and Sale Agreement dated July 24, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Gracianna Property
6.59.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Gracianna dated August 13, 2025 for Arrived Series Gracianna Property
6.60*		Purchase and Sale Agreement dated July 29, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Rivendell Property
6.60.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Rivendell dated August 13, 2025 for Arrived Series Rivendell Property
6.61*		Purchase and Sale Agreement dated August 12, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series William Property
6.61.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series William dated September 12, 2025 for Arrived Series William Property
6.62*		Purchase and Sale Agreement dated October 30, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Arthur Property
6.62.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Arthur dated November 17, 2025 for Arrived Series Arthur Property
6.63*		Purchase and Sale Agreement dated November 25, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Caldwell Property
6.63.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Caldwell dated November 17, 2025 for Arrived Series Caldwell Property
6.64*		Purchase and Sale Agreement dated October 28, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Chalkstone Property
6.64.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Chalkstone dated November 14, 2025 for Arrived Series Chalkstone Property
6.65*		Purchase and Sale Agreement dated September 13, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Chloe Property
6.65.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Chloe dated September 17, 2025 for Arrived Series Chloe Property
6.66*		Purchase and Sale Agreement dated October 29, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Farinosa Property
6.66.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Farinosa dated November 26, 2025 for Arrived Series Farinosa Property
6.67*		Purchase and Sale Agreement dated October 29, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Gavin Property
6.67.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Gavin dated November 17, 2025 for Arrived Series Gavin Property
6.68*		Purchase and Sale Agreement dated October 27, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Goshen Property
6.68.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Goshen dated November 19, 2025 for Arrived Series Goshen Property

Exhibit No.		Description
6.69*		Purchase and Sale Agreement dated September 25, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Kitsune Property
6.69.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Kitsune dated November 25, 2025 for Arrived Series Kitsune Property
6.69.2*		Counteroffer to Offer dated September 25, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Kitsune Property
6.70*		Purchase and Sale Agreement dated October 30, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Lucky Property
6.70.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Lucky dated November 18, 2025 for Arrived Series Lucky Property
6.71*		Purchase and Sale Agreement dated October 22, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Parker Property
6.71.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Parker dated November 25, 2025 for Arrived Series Parker Property
6.72*		Purchase and Sale Agreement dated November 11, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Rucker Property
6.72.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Rucker dated November 26, 2025 for Arrived Series Rucker Property
6.73*		Purchase and Sale Agreement dated April 7, 2026 between Arrived Holdings, Inc./Assignee and Seller for Series Chadwick Property
6.73.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Chadwick dated April 24, 2026 for Arrived Series Chadwick Property
6.74*		Purchase and Sale Agreement dated March 2, 2026 between Arrived Holdings, Inc./Assignee and Seller for Series Haynes Property
6.74.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Haynes dated March 17, 2026 for Arrived Series Haynes Property
6.75*		Purchase and Sale Agreement dated February 20, 2026 between Arrived Holdings, Inc./Assignee and Seller for Series Kanan Property
6.75.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Kanan dated March 13, 2026 for Arrived Series Kanan Property
6.76*		Purchase and Sale Agreement dated September 26, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Lancer Property
6.76.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Lancer dated November 26, 2025 for Arrived Series Lancer Property
6.77*		Purchase and Sale Agreement dated November 14, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Orland Property
6.77.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Orland dated December 3, 2025 for Arrived Series Orland Property
6.78*		Purchase and Sale Agreement dated February 18, 2026 between Arrived Holdings, Inc./Assignee and Seller for Series Ozark Property
6.78.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Ozark dated March 11, 2026 for Arrived Series Ozark Property
6.78.2*		Addendum to Purchase and Sale Agreement dated February 18, 2026 between Arrived Holdings, Inc./Assignee and Seller for Series Ozark Property
6.79*		Purchase and Sale Agreement dated February 24, 2026 between Arrived Holdings, Inc./Assignee and Seller for Series Preston Property
6.79.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Preston dated March 18, 2026 for Arrived Series Preston Property
6.80*		Purchase and Sale Agreement dated September 26, 2025 between Arrived Holdings, Inc./Assignee and Seller for Series Rosalee Property
6.80.1*		Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Rosalee dated February 23, 2026 for Arrived Series Rosalee Property
99.1*		Valuation Policy

Filed previously.

SIGNATURES

Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

ARRIVED HOMES 5, LLC

By:	Arrived Fund Manager, LLC, its managing member

By:	/s/ Ryan Frazier
	Name:	Ryan Frazier
	Title:	Chief Executive Officer

	Date:	September 28, 2026

Pursuant to the requirements of Regulation A, this report has been signed by the following persons on behalf of the issuer and in the capacities and on the dates indicated.

SIGNATURE	TITLE	DATE

/s/ Ryan Frazier	Chief Executive Officer of Arrived Holdings, Inc.	September 28, 2026
Ryan Frazier	(principal executive officer) Chief Executive Officer and Director of Arrived Homes 5, LLC

/s/ Sue Korn	Principal Financial and Accounting Officer	September 28, 2026
Sue Korn	of Arrived Holdings, Inc. Principal Financial and Accounting Officer of Arrived Homes 5, LLC

Arrived Fund Manager, LLC	Managing Member	September 28, 2026

	By:	/s/ Ryan Frazier
	Name:	Ryan Frazier
	Title:	Chief Executive Officer

Source: View Original Filing on SEC EDGAR

Arrived Homes 5 narrows first-half loss to $202K

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