How are CMCT’s property occupancies trending in Q1 2026?

As of March 31, 2026, CMCT’s office portfolio was 73.1% occupied , its same-store multifamily portfolio was 91.4% occupied , and its hotel achieved 78.5% occupancy with RevPAR of $178.71 , reflecting stronger multifamily and stable hotel performance.

What is CMCT’s undepreciated common book value per share?

As of March 31, 2026, CMCT reported undepreciated common book value of $388.5 million . With 2,639,158 shares of common stock outstanding, this equated to an undepreciated common book value of approximately $147.22 per share .

CMCT (NASDAQ: CMCT) posts wider Q1 2026 loss as it redeems $242.8M preferred stock

Q: What were CMCT’s FFO and Core FFO results for Q1 2026?

In Q1 2026, CMCT’s FFO attributable to common stockholders was $(28.8) million , or $(58.47) per diluted share. Core FFO , which excludes items like preferred redemptions and debt extinguishment, was $(5.9) million , or $(11.89) per diluted share.

Q: What capital structure actions did CMCT take in early 2026?

During Q1 2026, CMCT redeemed approximately $242.8 million of preferred stock into common shares, contributing to about $396.2 million of preferred redemptions since September 2024, which management expects to meaningfully reduce preferred dividend expense going forward.

Q: How did CMCT’s segment NOI change in Q1 2026 versus 2025?

Total segment NOI for Q1 2026 was $9.8 million , down from $11.8 million in Q1 2025. Office same-store NOI declined, hotel NOI fell to $4.0 million from $4.7 million, while multifamily segment NOI was roughly flat at about $(613,000) .

Filing Impact

(Very High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Creative Media & Community Trust Corporation reported a larger net loss for Q1 2026 while advancing a balance-sheet restructuring. Net loss attributable to common stockholders was $34.7 million, or $(70.52) per diluted share, compared with a loss of $11.9 million, or $(1,983.00) per share, a year earlier after reverse stock splits.

FFO attributable to common stockholders was $(28.8) million, or $(58.47) per share, and Core FFO was $(5.9) million, or $(11.89) per share. Total segment NOI declined to $9.8 million from $11.8 million, reflecting softer office and hotel results, partly offset by improving multifamily occupancy.

The company sold its lending business for an effective $44.9 million price, generating about $31.2 million in net cash proceeds, and redeemed roughly $242.8 million of preferred stock into common shares during the quarter, contributing to cumulative preferred redemptions of about $396.2 million since September 2024. As of March 31, 2026, the office portfolio was 73.1% occupied, same-store multifamily occupancy reached 91.4%, and the Sheraton hotel posted RevPAR of $178.71 with 78.5% occupancy after a major renovation.

Insights

CMCT’s Q1 2026 shows weaker earnings but visible balance-sheet repair.

CMCT’s Q1 2026 net loss attributable to common stockholders widened to $34.7M, driven mainly by $22.2M of redeemable preferred stock redemptions and lower segment NOI. FFO fell to $(28.8M), while Core FFO was $(5.9M), indicating operations remain under pressure.

At the same time, management continued its strategic shift toward multifamily and a simpler capital structure. Since September 2024, CMCT has redeemed about $396.2M of preferred stock, including $242.8M in Q1, and sold its lending business for an effective $44.9M, yielding roughly $31.2M of net cash.

Operationally, multifamily occupancy improved to 91.4% same-store, and the hotel posted RevPAR of $178.71 after completing a large renovation, while office NOI softened and the Oakland office and mortgage maturity in Q3 2026 remain key challenges. Future disclosures in company filings may clarify how higher multifamily occupancy and lower preferred dividends affect FFO over coming periods.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net loss attributable to common stockholders: $34.7M Net loss per diluted share: $(70.52) FFO attributable to common stockholders: $(28.8M) +7 more

10 metrics

Net loss attributable to common stockholders $34.7M Three months ended March 31, 2026; $(11.9M) in 2025

Net loss per diluted share $(70.52) Q1 2026; $(1,983.00) per share in Q1 2025 after reverse splits

FFO attributable to common stockholders $(28.8M) Q1 2026; $(5.4M) in Q1 2025

Core FFO attributable to common stockholders $(5.9M) Q1 2026; $(5.1M) in Q1 2025

Segment NOI $9.8M Three months ended March 31, 2026; $11.8M in 2025

Sale price of lending business $44.9M Sale of First Western in January 2026; net cash proceeds $31.2M

Preferred stock redeemed since Sept 2024 $396.2M Cumulative preferred redemptions including $242.8M in Q1 2026

Office occupancy 73.1% Office properties as of March 31, 2026; same-store increase vs 2025

Same-store multifamily occupancy 91.4% As of March 31, 2026; 1,120 basis point improvement vs Q1 2025

Hotel RevPAR $178.71 Sheraton Grand for three months ended March 31, 2026; $176.47 in 2025

Key Terms

Funds from operations (FFO), Core FFO, Segment net operating income (NOI), Reverse Stock Splits, +2 more

6 terms

Funds from operations (FFO) financial

"Funds from operations attributable to common stockholders (“FFO”)(3)1 was $(28.8) million, or $(58.47) per diluted share."

Funds from operations (FFO) is a performance measure commonly used for real estate companies that adjusts net income by adding back non‑cash items like building depreciation and removing one‑time gains or losses from property sales, to show recurring operating earnings. Investors use FFO to judge a property portfolio’s ability to generate cash for dividends and growth — think of it as measuring a car’s regular fuel efficiency rather than its accounting value or one‑off resale price.

Core FFO financial

"Core FFO attributable to common stockholders (“Core FFO”)(4)1 was $(5.9) million, or $(11.89) per diluted share."

Core FFO (Core Funds From Operations) is a real estate industry measure of a property owner's recurring cash earnings calculated by starting with net income and removing non-cash accounting items and one-time gains or losses so the number reflects ongoing operating performance. Investors use it like a trimmed-down paycheck: it helps compare cash-generating ability across periods and companies by focusing on the stable, repeatable income rather than temporary or accounting-driven swings.

Segment net operating income (NOI) financial

"Total segment net operating income (“NOI”)(5) was $9.8 million for the three months ended March 31, 2026."

Reverse Stock Splits financial

"All of the share and per share amounts in this release have been adjusted to give retroactive effect to the reverse stock splits (collectively, the “Reverse Stock Splits”)."

A reverse stock split is when a company combines multiple existing shares into fewer higher-priced shares—like trading four small slices of a pie for one larger slice. It doesn’t change the overall value of an investor’s holdings immediately, but it raises the per-share price and can matter to investors because it can affect market perception, stock exchange listing eligibility, and trading liquidity, and it changes share counts used in investor metrics.

RevPAR financial

"our one hotel with an ancillary parking garage, which has a total of 505 rooms, had RevPAR of $178.71 for the three months ended March 31, 2026"

RevPAR, or revenue per available room, is a measure used in the hotel industry to show how much money a hotel earns from each of its rooms over a certain period. It helps investors understand how well a hotel is performing financially, similar to how a store's sales per square foot reveal its profitability. Higher RevPAR indicates better use of resources and stronger financial health.

Undepreciated common book value financial

"Undepreciated common book value of Common Stock was $147.22 per share."

Offering Details

earnings_snapshot

Offering

Offering Type earnings_snapshot

Understanding 8-K Material Events →

05/07/2026 - 08:36 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 8, 2026

Commission File Number 1-13610

CREATIVE MEDIA & COMMUNITY TRUST CORPORATION

(Exact name of registrant as specified in its charter)

Maryland

75-6446078

(State or Other Jurisdiction of
Incorporation or Organization)

(I.R.S. Employer
Identification No.)

4700 Wilshire Boulevard, Los Angeles, CA 90010

(866) 242-1266

(Address of Principal Executive Offices)

(Registrant's telephone number)

None

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered Pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.001 Par Value

CMCT

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Item 2.02 Results of Operations and Financial Condition

On May 8, 2026 Creative Media & Community Trust Corporation (the “Company”) issued a press release announcing its financial results for the period ended March 31, 2026. A copy of the press release is attached to this Form 8-K as Exhibit 99.1 and is incorporated by reference herein.

The information in this Item 2.02 and Exhibit 99.1 are being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 7.01. Regulation FD Disclosure

A copy of the Company’s Q1 2026 Shareholder Presentation is attached to this Form 8-K as Exhibit 99.2 and is incorporated by reference herein. Additionally, the Company has posted a copy of the presentation on its Shareholder Relations page at www.creativemediacommunity.com.

The information in this Item 7.01 and Exhibit 99.1 of this Current Report shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any registration statement or other filing under the Securities Act of 1933, as amended, or the Exchange Act, except in the event that the Company expressly states that such information is to be considered filed under the Exchange Act or incorporates it by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.


Exhibit Number						Exhibit Description
*99.1						Press Release dated May 8, 2026 regarding the Company’s financial results for the quarter ended March 31, 2026
*99.2						Shareholder Presentation for Q1 2026
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

*Filed herewith

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

CREATIVE MEDIA & COMMUNITY TRUST CORPORATION

Dated: May 7, 2026

By:

/s/ Brandon Hill

Brandon Hill

Chief Financial Officer

Exhibit 99.1

Creative Media & Community Trust Corporation Reports 2026 First Quarter Results

Los Angeles—(May 8, 2026) Creative Media & Community Trust Corporation (NASDAQ: CMCT) (“we”, “our”, “CMCT”, or the “Company”) today reported operating results for the three months ended March 31, 2026.

On March 26, 2026, the Company effected a 1-for-10 reverse stock split on the Company’s Common Stock, par value $0.001 per share (the “Common Stock”), and on April 20, 2026, the Company effected a 1-for-10 reverse stock split on its Common Stock. All of the share and per share amounts in this release have been adjusted to give retroactive effect to the reverse stock splits (collectively, the “Reverse Stock Splits”).

First Quarter 2026 Highlights

Real Estate Portfolio

•CMCT’s office portfolio was 73.1% leased as of March 31, 2026 (85.7% leased when excluding our one Oakland office building (the “Oakland Office Building”), compared to 81.0% leased as of March 31, 2025).

•Executed 20,562 square feet of leases with terms longer than 12 months.

•CMCT’s same-store multifamily portfolio occupancy was 91.4% as of March 31, 2026, representing a 1,120 basis point improvement from the first quarter of 2025.

Financial Results

•Net loss attributable to common stockholders of $(34.7) million, or $(70.52) per diluted share.

•Funds from operations attributable to common stockholders (“FFO”)(3)1 was $(28.8) million, or $(58.47) per diluted share.

•Core FFO attributable to common stockholders (“Core FFO”)(4)1 was $(5.9) million, or $(11.89) per diluted share.

•Undepreciated common book value of Common Stock was $147.22 per share.

Asset Sales and Preferred Redemptions

•On January 21, 2026, we completed the sale of our lending business (“First Western”) for a purchase price of approximately $44.9 million2.

•Redeemed approximately $242.8 million of Preferred Stock, into shares of our Common Stock in March 2026 (“March Redemption”); the redemption is expected to significantly reduce preferred dividends beginning in the second quarter of 2026.

Management Commentary

The Company made significant progress on its plan to accelerate its focus towards premier multifamily assets, strengthen the balance sheet and improve liquidity. Operating trends continue to improve across the multifamily portfolio, the Los Angeles and Austin office assets and the company’s one hotel.

Since announcing this plan in September 2024, the Company has significantly improved its balance sheet having completed financings on nine assets, fully retired its recourse credit facility, sold its lending business and redeemed approximately $396.2 million of Preferred Stock, into shares of the Company’s Common Stock, including $242.8 million of redemptions in the first quarter of 2026.

The March Redemption is expected to improve CMCT’s FFO1 by approximately $16.0 million per year3 and returns the Company’s capital structure back to its long-term target (approximately 38% common equity, 7% preferred equity and 55% debt when adjusting for the Redemption), on a fair value basis.

1Non-GAAP financial measure. Refer to the explanations and reconciliations elsewhere in this release.

2The sales price of approximately $44.9 million is net of the outstanding balance of SBA 7(a) loan-backed notes and subject to adjustment. At the closing and upon giving effect to the payment of other debt, transaction expenses and other matters, the sale yielded net cash proceeds of approximately $31.2 million.

3Represents cumulative 12 months of dividend expense for the shares of Preferred Stock redeemed in the March Redemption, based on the respective dividend rates in place as of March 16, 2026.

Exhibit 99.1

Given the company’s significantly improved financial position, the company does not currently intend to redeem, at the Company’s election, additional Preferred Stock in shares of Common Stock. However, the Company will evaluate redemption requests submitted by holders of Preferred Stock at the time it receives such requests and may elect to redeem those Preferred Shares in Common Stock or cash, at the Company’s discretion.

Operating Trends

The Company believes there is an opportunity to significantly improve net operating income of its multifamily portfolio by increasing occupancy and by renewing leases at market rents which exceed in-place rents. CMCT’s multifamily occupancy, excluding its premier, Class A Echo Park Los Angeles apartment building which just began lease-up during the fourth quarter of 2025, was 91.4% as of March 31, 2026, representing a 1,120 basis point improvement from the first quarter of 2025. The Company is seeing improving demand at its Bay Area multifamily buildings with occupancy improving to 91.9% at the end of the first quarter, representing a 860 basis point improvement from the first quarter 2025. At the end of the first quarter, the recently developed Echo Park multifamily building was 52.8% occupied.

In the office segment, excluding the Oakland Office Building, the leased percentage was 85.7% at the end of March 31, 2026 representing a 470 basis point improvement from the first quarter of 2025. At 11600 Wilshire Boulevard, the Company expects to finalize its renovation program on several small suites in the first half of 2026, which is anticipated to fuel leasing activity. The company is also seeing an increase in activity at its Culver City and Austin creative office assets. The Company owns one office asset in Oakland, where demand continues to be challenging. The mortgage on the asset matures in the third quarter of 2026; the Company is currently seeking an extension of the maturity but cannot guarantee it will reach an agreement with the lender.

In the hotel segment, the Company has substantially completed the renovation of the public space during the first quarter of 2026, following the renovation of all 505 rooms, setting the property up well for 2026 and beyond. The renovation was the first large scale renovation of the property since it was acquired in 2008. The company is also exploring an opportunity to convert underutilized space into 8 additional rooms.

Asset Sales

In January 2026, the Company completed the sale of its lending division for a purchase price of approximately $44.9 million (which is net of the outstanding balance of debt related to the 2023 securitization of certain loan receivables), subject to post-closing adjustments. Giving effect to the payment of other debt, transaction expenses and other matters, the transactions yielded net cash proceeds to the Company of approximately $31.2 million.

The Company continues to evaluate additional asset sales.

First Quarter 2026 Results

Real Estate Portfolio

As of March 31, 2026, our real estate portfolio consisted of 27 assets, all of which were fee-simple properties and five of which we own through investments in unconsolidated joint ventures. Our unconsolidated joint ventures contain one office property, three multifamily properties (one of which has been partially converted from office into multifamily units and is now classified as a multifamily property) and one commercial development site. As of March 31, 2026, our 12 office properties, totaling approximately 1.3 million rentable square feet, were 73.1% occupied; our one hotel with an ancillary parking garage, which has a total of 505 rooms, had RevPAR of $178.71 for the three months ended March 31, 2026, and our five multifamily properties were 89.6% occupied. Additionally, as of March 31, 2026, we had eight development sites (two of which were being used as parking lots).

Financial Results

Net loss attributable to common stockholders was $(34.7) million, or $(70.52) per diluted share of Common Stock, for the three months ended March 31, 2026, compared to a net loss attributable to common stockholders of $(11.9) million, or $(1,983.00) per diluted share of Common Stock, for the same period in 2025. The increase in net loss attributable to common stockholders was primarily driven by an increase in redeemable preferred stock redemptions of $21.9 million and a decrease in segment net operating income of $1.9 million.

FFO(3)4 was $(28.8) million, or $(58.47) per diluted share of Common Stock, for the three months ended March 31, 2026, compared to $(5.4) million, or $(900.83) per diluted share of Common Stock, for the same period in 2025. The decrease in FFO4 was primarily attributable to an increase in redeemable preferred stock redemptions of $21.9 million, a decrease of $1.9 million in segment net

4 Non-GAAP financial measure. Refer to the explanations and reconciliations elsewhere in this release.

operating income and an increase of $705,000 in loss on early extinguishment of debt, partially offset by a decrease in redeemable preferred stock dividends of $1.3 million.

Core FFO(4)5 was $(5.9) million, or $(11.89) per diluted share of Common Stock for the three months ended March 31, 2026, compared to $(5.1) million, or $(846.50) per diluted share of Common Stock for the same period in 2025. The decrease in Core FFO5 is attributable to the aforementioned changes in FFO5, while not impacted by the increase in loss on early extinguishment of debt or the increase in redeemable preferred stock redemptions, as these are excluded from our Core FFO5 calculation.

Segment Information

Our reportable segments during the three months ended March 31, 2026 and 2025 consisted of three types of commercial real estate properties, namely, office, hotel and multifamily. Total segment net operating income (“NOI”)(5) was $9.8 million for the three months ended March 31, 2026, compared to $11.8 million for the same period in 2025.

Office

Same-Store

Same-store(2) office segment NOI(5) was $6.5 million for the three months ended March 31, 2026, a decrease from $7.1 million compared to the same period in 2025, while same-store(1) office Cash NOI(6)5 was $6.9 million for the three months ended March 31, 2026, a decrease from $7.8 million in the same period in 2025. The decrease in same-store(2) office Segment NOI(5) and same-store(1) office Cash NOI(5) was primarily driven by a decrease in tenant reimbursement revenue at an office property in Oakland, California and an increase in real estate tax expense at an office property in Beverly Hills, California driven by a tax refund recorded in the prior-year period.

At March 31, 2026, the Company’s same-store(2) office portfolio was 73.1% occupied, an increase of 290 basis points year-over-year on a same-store(2) basis, and 73.1% leased, an increase of 170 basis points year-over-year on a same-store(2) basis. The annualized rent per occupied square foot(7) on a same-store(2) basis was $58.47 at March 31, 2026, compared to $61.14 at March 31, 2025. During the three months ended March 31, 2026, the Company executed 20,562 square feet of leases with terms longer than 12 months at our same-store(2) office portfolio.

Total

Office Segment NOI(5) decreased to $6.5 million for the three months ended March 31, 2026, as compared to $7.1 million for the same period in 2025, driven by the aforementioned decrease in same-store(2) office Segment NOI(5).

Hotel

Hotel Segment NOI(5) was $4.0 million for the three months ended March 31, 2026, as compared to $4.7 million for the same period in 2025. The decrease was largely attributable to temporary factors, including a renovation-related disruption early in the quarter, and an issue in one of the mechanical systems that temporarily removed a number of rooms from service in March.


	Three Months Ended March 31,
	2026			2025
Occupancy	78.5		%	80.0		%
Average daily rate(a)	$	227.75		$	220.57
Revenue per available room(b)	$	178.71		$	176.47

______________________

(a)Calculated as trailing 3-month room revenue divided by the number of rooms occupied.

(b)Calculated as trailing 3-month room revenue divided by the number of available rooms.

Multifamily

Our Multifamily Segment consists of two multifamily buildings located in Oakland, California as well as three investments in multifamily buildings in Los Angeles, California owned through unconsolidated joint ventures. Our multifamily segment NOI(5) remained fairly consistent at $(613,000) for the three months ended March 31, 2026, compared to $(620,000) for the same period in 2025. As of March 31, 2026, our Multifamily Segment was 89.6% occupied, monthly rent per occupied unit(8) was $2,493 and net monthly rent per occupied unit(9) was $2,156, compared to 80.2%, $2,461, and $2,341, respectively, as of March 31, 2025.

5 Non-GAAP financial measure. Refer to the explanations and reconciliations elsewhere in this release.

Debt and Equity

During the three months ended March 31, 2026, the Company redeemed 7,734,130 shares of Series A1 Preferred Stock, 1,957,823 shares of Series A Preferred Stock, and 21,760 shares of Series D Preferred Stock (all shares of which were redeemed in shares of Common Stock). These redemptions resulted in the collective issuance of 2,612,161 shares of Common Stock (adjusted for the Reverse Stock Splits) during the three months ended March 31, 2026.

As of May 1, 2026, the Company has received redemption requests related to Series A1 Preferred Stock and Series A Preferred Stock, totaling approximately $204,000, which the Company intends to redeem in shares of Common Stock as soon as practical after the Company opens its trading window in accordance with its Insider Trading Policy.

We are evaluating a potential refinancing and are in discussions with and receiving proposals from potential lenders related to the Sheraton Hotel that could result in an upsized loan and a reduced interest rate.

In connection with the closing of the sale of First Western, we repaid in full the remaining balance of $10.4 million under the Lending Division Revolving Credit Facility.

Dividends

We declared preferred stock dividends on our Series A, Series A1 and Series D Preferred Stock for the first quarter of 2026. The dividends were payable on April 15, 2026 to holders of record at the close of business on April 5, 2026.

The dividend amounts are as follows:


			Quarterly Dividend Amount
Series A Preferred Stock			$0.34375 per share
Series A1 Preferred Stock			$0.399375 per share*
Series D Preferred Stock			$0.353125 per share

*The quarterly cash dividend of $0.399375 per share represents an annualized dividend rate of 6.39% (2.5% plus the federal funds rate of 3.89% on the applicable determination date). The terms of the Series A1 Preferred Stock provide for cumulative cash dividends (if, as and when authorized by the Board of Directors) on each share of Series A1 Preferred Stock at a quarterly rate of the greater of (i) 6.00% of the Series A1 Stated Value, divided by four (4) and (ii) the Federal Funds (Effective) Rate on the applicable determination date, plus 2.50%, of the Series A1 Stated Value, divided by four (4), up to a maximum of 2.50% of the Series A1 Stated Value per quarter.

About the Data

Descriptions of certain performance measures, including Segment NOI, Cash NOI, FFO attributable to common stockholders, and Core FFO attributable to common stockholders are provided below. Certain of these performance measures—Cash NOI, FFO attributable to common stockholders and Core FFO attributable to common stockholders —are non-GAAP financial measures. Refer to the subsequent tables for reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measure.

(1)Stabilized office portfolio: represents office properties where occupancy was not impacted by a redevelopment or repositioning during the period.

(2)Same-store properties: are properties that we have owned and operated in a consistent manner and reported in our consolidated results during the entire span of the periods being reported. We excluded from our same-store property set this quarter any properties (i) acquired on or after January 1, 2025; (ii) sold or otherwise removed from our consolidated financial statements on or before March 31, 2026; or (iii) that underwent a major repositioning project we believed significantly affected its results at any point during the period commencing on January 1, 2025 and ending on March 31, 2026.

(3)FFO attributable to common stockholders (“FFO”): represents net income (loss) attributable to common stockholders, computed in accordance with GAAP, which reflects the deduction of redeemable preferred stock dividends accumulated, excluding gain (or loss) from sales of real estate, impairment of real estate, and real estate depreciation and amortization. We calculate FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (the “NAREIT”). See ‘Core FFO’ definition below for discussion of the benefits and limitations of FFO as a supplemental measure of operating performance.

(4)Core FFO attributable to common stockholders (“Core FFO”): represents FFO attributable to common stockholders (computed as described above), excluding gain (loss) on early extinguishment of debt, redeemable preferred stock deemed dividends, redeemable preferred stock redemptions, gain (loss) on termination of interest rate swaps, and transaction costs.

We believe that FFO is a widely recognized and appropriate measure of the performance of a REIT and that it is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results. In addition, we believe that Core FFO is a useful metric for securities analysts, investors and other interested parties in the evaluation of our Company as it excludes from FFO the effect of certain amounts that we believe are non-recurring, are non-operating in nature as they relate to the manner in which we finance our operations, or transactions outside of the ordinary course of business.

Like any metric, FFO and Core FFO should not be used as the only measure of our performance because it excludes depreciation and amortization and captures neither the changes in the value of our real estate properties that result from use or market conditions nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of our properties, and Core FFO excludes amounts incurred in connection with non-recurring special projects, prepaying or defeasing our debt, repurchasing our preferred stock, and adjusting the carrying value of our preferred stock classified in temporary equity to its redemption value, all of which have real economic effect and could materially impact our operating results. Other REITs may not calculate FFO and Core FFO in the same manner as we do, or at all; accordingly, our FFO and Core FFO may not be comparable to the FFOs and Core FFOs of other REITs. Therefore, FFO and Core FFO should be considered only as a supplement to net income (loss) as a measure of our performance and should not be used as a supplement to or substitute measure for cash flows from operating activities computed in accordance with GAAP. FFO and Core FFO should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs, including our ability to pay dividends. FFO and Core FFO per share for the year-to-date period may differ from the sum of quarterly FFO and Core FFO per share amounts due to the required method for computing per share amounts for the respective periods. In addition, FFO and Core FFO per share is calculated independently for each component and may not be additive due to rounding.

(5)Segment NOI: for our real estate segments represents rental and other property income and expense reimbursements less property related expenses and excludes non-property income and expenses, interest expense, depreciation and amortization, corporate related general and administrative expenses, gain (loss) on sale of real estate, gain (loss) on early extinguishment of debt, impairment of real estate, transaction costs, and benefit (provision) for income taxes. For our lending segment, Segment NOI represents interest income net of interest expense and general overhead expenses. See ‘Cash NOI’ definition below for discussion of the benefits and limitations of Segment NOI as a supplemental measure of operating performance.

(6)Cash NOI: for our real estate segments, represents Segment NOI adjusted to exclude the effect of the straight lining of rents, acquired above/below market lease amortization and other adjustments required by generally accepted accounting principles (“GAAP”). For our lending segment, there is no distinction between Cash NOI and Segment NOI. We also evaluate the operating performance and financial results of our operating segments using cash basis NOI excluding lease termination income, or “Cash NOI excluding lease termination income”.

Segment NOI and Cash NOI are not measures of operating results or cash flows from operating activities as measured by GAAP and should not be considered alternatives to income from continuing operations, or to cash flows as a measure of liquidity, or as an indication of our performance or of our ability to pay dividends. Companies may not calculate Segment NOI or Cash NOI in the same manner. We consider Segment NOI and Cash NOI to be useful performance measures to investors and management because, when compared across periods, they reflect the revenues and expenses directly associated with owning and operating our properties and the impact to operations from trends in occupancy rates, rental rates and operating costs, providing a perspective not immediately apparent from income from continuing operations. Additionally, we believe that Cash NOI is helpful to investors because it eliminates straight line rent and other non-cash adjustments to revenue and expenses.

(7)Annualized rent per occupied square foot: represents gross monthly base rent under leases commenced as of the specified periods, multiplied by twelve. This amount reflects total cash rent before abatements. Where applicable, annualized rent has been grossed up by adding annualized expense reimbursements to base rent. Annualized rent for certain office properties includes rent attributable to retail.

(8)Monthly rent per occupied unit: Represents gross monthly base rent under leases commenced as of the specified period, divided by occupied units. This amount reflects total cash rent before concessions.

(9)Net monthly rent per occupied unit: Represents gross monthly base rent under leases commenced as of the specified period less rent concessions granted during the specified period, divided by occupied units.

(10)Undepreciated common book value: Represents total stockholders’ equity, computed in accordance with GAAP, adjusted to exclude accumulated depreciation and preferred stock. We believe that undepreciated common book value is a useful metric for securities analysts, investors and other interested parties in the evaluation of our Company as it excludes from common stockholder’s equity the effect of depreciation, which is a non-cash expense.

FORWARD-LOOKING STATEMENTS

This press release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are intended to be covered by the safe harbors created thereby. These statements include the plans and objectives of management for future operations, including plans and objectives relating to future growth of CMCT’s business and availability of funds. Such forward-looking statements can be identified by the use of forward-looking terminology such as “may,” “will,” “project,” “target,” “expect,” “intend,” “might,” “believe,” “anticipate,” “estimate,” “could,” “would,” “continue,” “pursue,” “potential,” “forecast,” “seek,” “plan,” or “should,” or “goal” or the negative thereof or other variations or similar words or phrases. Such forward-looking statements also include, among others, statements about CMCT’s plans and objectives relating to future growth and outlook. Such forward-looking statements are based on particular assumptions that management of CMCT has made in light of its experience, as well as its perception of expected future developments and other factors that it believes are appropriate under the circumstances. Forward-looking statements are necessarily estimates reflecting the judgment of CMCT’s management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include those associated with (i) the timing, form, and operational effects of CMCT’s development activities, (ii) the ability of CMCT to raise in place rents to existing market rents and to maintain or increase occupancy levels, (iii) fluctuations in market rents, (iv) the effects of inflation and continuing higher interest rates on the operations and profitability of CMCT and (v) general economic, market and other conditions, including the effects of high unemployment rates, continued or renewed inflation and any recession or slowdown in economic growth, and (vi) our approach to artificial intelligence (“AI”). Additional important factors that could cause CMCT’s actual results to differ materially from CMCT’s expectations are discussed in “Item 1A—Risk Factors” in CMCT’s Annual Report on Form 10-K for the year ended December 31, 2025 and in Part II, Item 1A of CMCT’s Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission from time to time. The forward-looking statements included herein are based on current expectations and there can be no assurance that these expectations will be attained. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond CMCT’s control. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements expressed or implied will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements expressed or implied herein, the inclusion of such information should not be regarded as a representation by CMCT or any other person that CMCT’s objectives and plans will be achieved. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made. CMCT does not undertake to update them to reflect changes that occur after the date they are made, except as may be required by applicable securities laws.

For Creative Media & Community Trust Corporation

Media Relations:

Bill Mendel, 212-397-1030

bill@mendelcommunications.com

Shareholder Relations:

Steve Altebrando, 646-652-8473
shareholders@creativemediacommunity.com

CREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIES

Consolidated Balance Sheets

(Unaudited and in thousands, except share and per share amounts)


	March 31, 2026		December 31, 2025
ASSETS
Investments in real estate, net	$	695,479	$	698,087
Investments in unconsolidated entities	29,713		31,095
Cash and cash equivalents	15,789		15,439
Restricted cash	21,987		22,246

Accounts receivable, net	4,347		2,598
Deferred rent receivable and charges, net	17,134		18,692
Other intangible assets, net	409		439
Other assets	7,463		4,732
Assets held for sale, net (Note 5)	—		65,859
TOTAL ASSETS	$	792,321	$	859,187
LIABILITIES, REDEEMABLE PREFERRED STOCK, AND EQUITY
LIABILITIES:
Debt, net	$	500,078	$	509,768
Accounts payable and accrued expenses	21,228		26,979

Due to related parties	2,379		22,819
Other liabilities	11,801		11,406
Liabilities associated with assets held for sale, net (Note 5)	—		21,966
Total liabilities	535,486		592,938
COMMITMENTS AND CONTINGENCIES

EQUITY:
Series A cumulative redeemable preferred stock, $0.001 par value; 28,890,857 and 30,848,680 shares authorized as of March 31, 2026 and December 31, 2025, respectively; 8,820,338 and 1,711,195 shares issued and outstanding, respectively, as of March 31, 2026 and 8,820,338 and 3,669,018 shares issued and outstanding, respectively, as of December 31, 2025; liquidation preference of $25.00 per share, subject to adjustment	42,812		91,906
Series A1 cumulative redeemable preferred stock, $0.001 par value; 16,774,534 and 24,508,664 shares authorized as of March 31, 2026 and December 31, 2025, respectively; 12,240,878 and 1,015,412 shares issued and outstanding, respectively, as of March 31, 2026 and 12,240,878 and 8,749,542 shares issued and outstanding, respectively, as of December 31, 2025; liquidation preference of $25.00 per share, subject to adjustment	25,885		217,451
Series D cumulative redeemable preferred stock, $0.001 par value; 26,965,708 and 26,987,468 shares authorized as of March 31, 2026 and December 31, 2025, respectively; 56,857 and 22,565 shares issued and outstanding, respectively, as of March 31, 2026 and 56,857 and 44,325 shares issued and outstanding, respectively, as of December 31, 2025; liquidation preference of $25.00 per share, subject to adjustment	553		1,089
Common stock, $0.001 par value; 900,000,000 shares authorized; 2,639,158 shares issued and outstanding as of March 31, 2026 and 26,997 shares issued and outstanding as of December 31, 2025	26		3
Additional paid-in capital	1,285,605		1,019,044
Distributions in excess of earnings	(1,098,826)		(1,064,132)
Total stockholders’ equity	256,055		265,361
Noncontrolling interests	780		888
Total equity	256,835		266,249
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK, AND EQUITY	792,321		859,187

CREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIES

Consolidated Statements of Operations

(Unaudited and in thousands, except per share amounts)


	Three Months Ended March 31,
	2026		2025
REVENUES:
Rental and other property income	$	16,298	$	17,220
Hotel income	11,877		12,134
Interest and other income	1,242		2,941
Total Revenues	29,417		32,295
EXPENSES:
Rental and other property operating	17,147		17,125
Asset management and other fees to related parties	584		360
Expense reimbursements to related parties—corporate	875		626
Expense reimbursements to related parties—lending segment	—		659
Interest	9,124		9,758
General and administrative	2,032		2,181
Transaction-related costs	7		26
Depreciation and amortization	7,721		6,560
Loss on early extinguishment of debt (Note 7)	705		—


Total Expenses	38,195		37,295
Loss from unconsolidated entities	(1,376)		(1,151)
Gain on sale of First Western (Note 5)	1,737		—
LOSS BEFORE PROVISION FOR INCOME TAXES	(8,417)		(6,151)
Provision for income taxes	—		121
NET LOSS	(8,417)		(6,272)
Net loss attributable to noncontrolling interests	108		158
NET LOSS ATTRIBUTABLE TO THE COMPANY	(8,309)		(6,114)
Redeemable preferred stock dividends declared or accumulated (Note 11)	(4,180)		(5,484)

Redeemable preferred stock redemptions (Note 11)	(22,206)		(300)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	$	(34,695)	$	(11,898)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER SHARE:
Basic	$	(70.52)	$	(1,983.00)
Diluted	$	(70.52)	$	(1,983.00)
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:
Basic	492		6
Diluted	492		6

CREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIES

Funds from Operations Attributable to Common Stockholders

(Unaudited and in thousands, except per share amounts)

We believe that FFO is a widely recognized and appropriate measure of the performance of a REIT and that it is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results. FFO represents net income (loss) attributable to common stockholders, computed in accordance with generally accepted accounting principles ("GAAP"), which reflects the deduction of redeemable preferred stock dividends accumulated, excluding gains (or losses) from sales of real estate, impairment of real estate, and real estate depreciation and amortization. We calculate FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (the “NAREIT”).

Like any metric, FFO should not be used as the only measure of our performance because it excludes depreciation and amortization and captures neither the changes in the value of our real estate properties that result from use or market conditions nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of our properties, all of which have real economic effect and could materially impact our operating results. Other REITs may not calculate FFO in accordance with the standards established by the NAREIT; accordingly, our FFO may not be comparable to the FFO of other REITs. Therefore, FFO should be considered only as a supplement to net income (loss) as a measure of our performance and should not be used as a supplement to or substitute measure for cash flows from operating activities computed in accordance with GAAP. FFO should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs, including our ability to pay dividends. The following table sets forth a reconciliation of net income (loss) attributable to common stockholders to FFO attributable to common stockholders for the three months ended March 31, 2026 and 2025.


	Three Months Ended March 31,
		2026		2025
Numerator:
Net loss attributable to common stockholders		$	(34,695)	$	(11,898)
Depreciation and amortization		7,721		6,560
Noncontrolling interests’ proportionate share of depreciation and amortization		(58)		(67)

Gain on sale of First Western		(1,737)		—

FFO attributable to common stockholders		$	(28,769)	$	(5,405)
Redeemable preferred stock dividends declared on dilutive shares (a)		—		—
Diluted FFO attributable to common stockholders		$	(28,769)	$	(5,405)
Denominator:
Basic weighted average shares of common stock outstanding		492		6
Effect of dilutive securities—contingently issuable shares (a)		—		—
Diluted weighted average shares and common stock equivalents outstanding		492		6
FFO attributable to common stockholders per share:
Basic		$	(58.47)	$	(900.83)
Diluted		$	(58.47)	$	(900.83)

______________________

(a)For the three months ended March 31, 2026 and 2025, the effect of certain shares of redeemable preferred stock were excluded from the computation of diluted FFO attributable to common stockholders and the diluted weighted average shares and common stock equivalents outstanding as such inclusion would be anti-dilutive.

CREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIES

Core Funds from Operations Attributable to Common Stockholders

(Unaudited and in thousands, except per share amounts)

In addition to calculating FFO in accordance with the standards established by NAREIT, we also calculate a supplemental FFO metric we call Core FFO attributable to common stockholders. Core FFO attributable to common stockholders represents FFO attributable to common stockholders, computed in accordance with NAREIT's standards, excluding losses (or gains) on early extinguishment of debt, redeemable preferred stock redemptions, gains (or losses) on termination of interest rate swaps, and transaction costs. We believe that Core FFO is a useful metric for securities analysts, investors and other interested parties in the evaluation of our Company as it excludes from FFO the effect of certain amounts that we believe are non-recurring, are non-operating in nature as they relate to the manner in which we finance our operations, or transactions outside of the ordinary course of business.

Like any metric, Core FFO should not be used as the only measure of our performance because, in addition to excluding those items prescribed by NAREIT when calculating FFO, it excludes amounts incurred in connection with non-recurring special projects, prepaying or defeasing our debt and repurchasing our preferred stock, all of which have real economic effect and could materially impact our operating results. Other REITs may not calculate Core FFO in the same manner as we do, or at all; accordingly, our Core FFO may not be comparable to the Core FFO of other REITs who calculate such a metric. Therefore, Core FFO should be considered only as a supplement to net income (loss) as a measure of our performance and should not be used as a supplement to or substitute measure for cash flows from operating activities computed in accordance with GAAP. Core FFO should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs, including our ability to pay dividends. The following table sets forth a reconciliation of net income (loss) attributable to common stockholders to Core FFO attributable to common stockholders for the three months ended March 31, 2026 and 2025.


	Three Months Ended March 31,
	2026		2025
Numerator:
Net loss attributable to common stockholders	$	(34,695)	$	(11,898)
Depreciation and amortization	7,721		6,560
Noncontrolling interests’ proportionate share of depreciation and amortization	(58)		(67)

Gain on sale of First Western	(1,737)		—

FFO attributable to common stockholders	$	(28,769)	$	(5,405)
Loss on early extinguishment of debt	705		—

Redeemable preferred stock redemptions	22,206		300

Transaction-related costs	7		26

Core FFO attributable to common stockholders	(5,851)		(5,079)
Redeemable preferred stock dividends declared on dilutive shares (a)	—		—
Diluted Core FFO attributable to common stockholders	$	(5,851)	$	(5,079)
Denominator:
Basic weighted average shares of common stock outstanding	492		6
Effect of dilutive securities-contingently issuable shares (a)	—		—
Diluted weighted average shares and common stock equivalents outstanding	492		6
Core FFO attributable to common stockholders per share:
Basic	$	(11.89)	$	(846.50)
Diluted	$	(11.89)	$	(846.50)

______________________

(a)For the three months ended March 31, 2026 and 2025, the effect of certain shares of redeemable preferred stock were excluded from the computation of diluted Core FFO attributable to common stockholders and the diluted weighted average shares and common stock equivalents outstanding as such inclusion would be anti-dilutive.

CREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIES

Reconciliation of Net Operating Income

(Unaudited and in thousands)

We internally evaluate the operating performance and financial results of our real estate segments based on segment NOI, which is defined as rental and other property income and expense reimbursements less property related expenses and excludes non-property income and expenses, interest expense, depreciation and amortization, corporate related general and administrative expenses, gain (loss) on sale of real estate, gain (loss) on early extinguishment of debt, impairment of real estate, transaction costs, and provision for income taxes. For our lending segment, we defined segment NOI as interest income net of interest expense and general overhead expenses. We also evaluate the operating performance and financial results of our operating segments using cash basis NOI, or "cash NOI". For our real estate segments, we define cash NOI as segment NOI adjusted to exclude the effect of the straight lining of rents, acquired above/below market lease amortization and other adjustments required by GAAP.

Cash NOI is not a measure of operating results or cash flows from operating activities as measured by GAAP and should not be considered an alternative to income from continuing operations, or to cash flows as a measure of liquidity, or as an indication of our performance or of our ability to pay dividends. Companies may not calculate cash NOI in the same manner. We consider cash NOI to be a useful performance measure to investors and management because, when compared across periods, it reflects the revenues and expenses directly associated with owning and operating our properties and the impact to operations from trends in occupancy rates, rental rates and operating costs, providing a perspective not immediately apparent from income from continuing operations. Additionally, we believe that cash NOI is helpful to investors because it eliminates straight line rent and other non-cash adjustments to revenue and expenses.

Below is a reconciliation of cash NOI to segment NOI and net income (loss) attributable to the Company for the three months ended March 31, 2026 and 2025.


	Three Months Ended March 31, 2026
	Same-Store Office		Non-Same-Store Office		Total Office		Hotel		Multi-family		Total



Cash net operating income	$	6,933	$	—	$	6,933	$	3,956	$	(613)	$	10,276
Deferred rent and amortization of intangible assets, liabilities, and lease inducements	(434)		—		(434)		—		—		(434)


Segment net operating income	$	6,499	$	—	$	6,499	$	3,956	$	(613)	$	9,842
Interest and other income											591
Asset management and other fees to related parties											(584)
Expense reimbursements to related parties — corporate											(875)
Interest expense											(9,124)
General and administrative											(1,571)
Transaction-related costs											(7)
Depreciation and amortization											(7,721)
Loss on early extinguishment of debt											(705)

Gain on sale of First Western											1,737

Loss before provision for income taxes											(8,417)
Provision for income taxes											—
Net loss											(8,417)
Net loss attributable to noncontrolling interests											108
Net loss attributable to the Company											$	(8,309)


	Three Months Ended March 31, 2025
	Same-Store Office		Non-Same-Store Office		Total Office		Hotel		Multi-family		Lending		Total



Cash net operating income	$	7,806	$	—	$	7,806	$	4,682	$	(620)	$	590	$	12,458
Deferred rent and amortization of intangible assets, liabilities, and lease inducements	(705)		—		(705)		2		—		—		(703)


Segment net operating income	$	7,101	$	—	$	7,101	$	4,684	$	(620)	$	590	$	11,755
Interest and other income													91
Asset management and other fees to related parties													(360)
Expense reimbursements to related parties — corporate													(626)
Interest expense													(9,184)
General and administrative													(1,241)
Transaction-related costs													(26)
Depreciation and amortization													(6,560)



Loss before provision for income taxes													(6,151)
Provision for income taxes													(121)
Net loss													(6,272)
Net loss attributable to noncontrolling interests													158
Net loss attributable to the Company													$	(6,114)

CREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIES

Undepreciated Common Book Value Per Share of Common Stock

(Unaudited and in thousands, except share and per share amounts)

The following table shows the calculation of the estimated undepreciated common book value per share of Common Stock (amounts in thousands, except share and per share amounts):


	March 31, 2026

Total stockholders’ equity	$	256,055
(+) Accumulated depreciation of investments in real estate	201,199
(-) Preferred stock(a)	(68,729)
Undepreciated common book value	$	388,525
Shares of Common Stock outstanding	2,639,158

Undepreciated common book value per share of Common Stock	$	147.22

______________________

(a) Represents the stated value of Preferred Stock, calculated as the number of shares outstanding multiplied by the stated

price per share.

SHAREHOLDER PRESENTATION | May 2026

www.cimgroup.com | ©2018 CIM Group | TRADE SECRET / CONFIDENTIAL INFORMATION Improving Bay Area Residential Market 17 All data retrieved from CoStar as of 03/02/2026 and reflects Downtown Oakland and San Francisco submarkets. » San Francisco » 2025 Rent Growth: 7.6% (highest in 25+ years) » Vacancy (2025YE): 5.0% (lowest in 15+ years) » San Francisco typically leads in market movements, with Oakland following » Both Oakland and San Francisco are shaped by the broader Bay Area economy, responding similarly to shifts in migration trends, employment cycles and housing supply » The Oakland market is recovering… » 2025 Rent growth turned positive (+1.2%) for the first time since 2021 » Vacancy (2025YE): 8.0% is down from a high of 17.9% in 2Q’21 as the market absorbs a wave of new Class A properties » …But the SF-Oakland rent premium is near recent historic highs: » 2015-2020: SF-Oakland Average Rent Premium of 1.04x » Today: 1.24x 2015-2020: SF: Oakland Avg Rent Premium 1.04x Current: 1.24x

www.cimgroup.com | ©2018 CIM Group | TRADE SECRET / CONFIDENTIAL INFORMATIONwww.creativemediacommunity.com | ©2026 CMCT | CMCT Creative Media & Community Trust Corporation 31 Note: All pages of the presentation must be viewed in conjunction with the Important Disclosures on page 2 and starting on page 32. See “Property Pictures” on page 32 under Important Disclosures. Important Information - Debt and Preferred Summary 4. Outstanding Series A1 Preferred Stock represents total shares issued as of March 31, 2026 of 12,240,878, less redemptions of 11,225,466 shares, multiplied by the stated value of $25.00 per share. Includes shares issued to CIM Group in lieu of cash payment of the asset management fee. Gross proceeds are not net of commissions, fees, allocated costs or discounts. Dividends on Series A1 Preferred Stock are paid at a rate of the greater of (i) an annual rate of 6.0% (i.e., the equivalent of $0.3750 per share per quarter) and (ii) the Federal Funds (Effective) Rate for such quarter and plus 2.5% up to a maximum of 2.5% of the Series A1 Preferred Stock Stated Value per quarter. 5. Outstanding Series A Preferred Stock represents total shares issued as of March 31, 2026 of 8,820,338, less redemptions of 7,109,143 shares, multiplied by the stated value of $25.00 per share. Includes shares issued to CIM Group in lieu of cash payment of the asset management fee. Gross proceeds are not net of commissions, fees, allocated costs or discounts. 6. Outstanding Series D Preferred Stock represents total shares issued as of March 31, 2026 of 56,857, less redemptions of 34,292, multiplied by the stated value of $25.00 per share. Gross proceeds are not net of commissions, fees, allocated costs or discounts. 7. On March 16, 2026, the Company redeemed, at the Company’s option, 1,869,573 shares of Series A Preferred Stock, 7,539,638 shares of Series A1 Preferred Stock and 21,760 shares of Series D Preferred Stock in shares of Common Stock (the “March 2026 Redemption”). Other than the March 2026 Redemption, the Company does not currently intend to redeem, at the Company’s election, additional Preferred Stock in shares of Common Stock. However, the Company will evaluate redemption requests submitted by holders of Preferred Stock at the time it receives such requests and may elect to redeem those Preferred Shares in Common Stock or cash, at the Company’s discretion. 1. The Company’s fixed rate mortgages payable are non-recourse and are secured by, among other things, first priority deeds of trust, security agreements or other similar security instruments on the fee simple interests in properties underlying such mortgages and assignments of rents receivable. As of March 31, 2026, the Company’s fixed rate mortgages payable had fixed interest rates of 6.25%, 4.14%, and 7.41% per annum, with payments of interest only and initial maturity dates of June 7, 2026, July 1, 2026, and January 11, 2030, respectively. With regard to the mortgage payable with a balance of $66.3 million as of March 31, 2026 maturing on June 7, 2026 (the “1150 Clay Mortgage”), the Company executed the final one-year extension option under the mortgage in June 2025. The Company intends to work with the lender in order to refinance the 1150 Clay Mortgage beyond its stated maturity date of June 7, 2026. Although the Company believes it is likely it will be able to refinance the 1150 Clay Mortgage prior to June 7, 2026, there can be no assurance that such refinancing will occur. If the Company and the lender under the 1150 Clay Mortgage cannot agree on an extension of the mortgage and the Company fails to repay the loan in full upon its contractual maturity date, such failure would constitute an event of default under the mortgage and would allow the lender to, among other remedies, take possession of the property. With regard to the mortgage payable with a balance of $97.1 million as of March 31, 2026 maturing on July 1, 2026 (the “1 Kaiser Mortgage”), the Company intends to work with the lender in order to refinance the 1 Kaiser Mortgage beyond its stated maturity date of July 1, 2026. Although the Company believes it is likely it will be able to refinance the 1 Kaiser Mortgage prior to July 1, 2026, there can be no assurance that such refinancing will occur. If the Company and the lender under the 1 Kaiser Mortgage cannot agree on an extension of the mortgage and the Company fails to repay the loan in full upon its contractual maturity date, such failure would constitute an event of default under the mortgage and would allow the lender to, among other remedies, take possession of the property. 2. The Company’s variable rate mortgages payable are non-recourse and are secured by, among other things, first priority deeds of trust, security agreements or other similar security instruments on the Company’s fee simple and leasehold interests in its hotel asset and adjacent parking garage and by a deed of trust on and assignment of rents receivable from a multifamily property. As of March 31, 2026, the Company’s variable rate mortgages payable had a variable interest rate of SOFR plus 4.35%, SOFR plus 3.36%, SOFR plus 3.00% and SOFR plus 2.95%, with a maturity date of January 1, 2027 (with three one-year extension options), January 31, 2027, February 14, 2027 (with one one-year extension option) and April 3, 2028 (with two one-year extension options), respectively. The mortgages with maturity dates of January 1, 2027, January 31, 2027, and February 14, 2027 have monthly payments of interest only, while the mortgage with an initial maturity date of April 3, 2028 has monthly payments of interest plus $50,000 of principal. With regard to the Penn Field Mortgage, during the three months ended March 31, 2026, the Company entered into an amendment to, among other things, provide additional borrowing advances in the amount of $2.5 million under the Penn Field Mortgage and increase the monthly payments to interest plus $60,000 of principal, with the increased monthly payments beginning subsequent to March 31, 2026, With regard to the mortgage payable with a balance of $81.0 million as of March 31, 2026 secured by a multifamily property in Oakland, California (the “Channel House Mortgage”), on August 4, 2025 the Company reached an agreement with the lender to extend the maturity date through January 31, 2027 (the “Channel House Mortgage Extension”). In connection with the Channel House Mortgage Extension, the Company made a repayment of $6.0 million under the Channel House Mortgage, reducing it from its previous balance of $87.0 million. Although the Company believes it is likely it will be able to refinance the Channel House Mortgage prior to January 31, 2027, there can be no assurance that such refinancing will occur. If the Company and the lender under the Channel House Mortgage cannot agree on an extension of the mortgage and the Company fails to repay the loan in full upon its contractual maturity date, such failure would constitute an event of default under the mortgage and would allow the lender to, among other remedies, take possession of the property. 3. The Company has junior subordinated notes with a variable interest rate which resets quarterly based on the three-month SOFR plus 3.51%, with quarterly interest only payments. The junior subordinated balance is due at maturity on March 30, 2035. The junior subordinated notes may be redeemed at par at the Company’s option

Source: View Original Filing on SEC EDGAR

FAQ

How did CMCT (CMCT) perform financially in Q1 2026?

CMCT reported a larger net loss in Q1 2026. Net loss attributable to common stockholders was $34.7 million, or $(70.52) per diluted share, compared with a loss of $11.9 million, or $(1,983.00) per share, in Q1 2025 after reverse stock splits.

What were CMCT’s FFO and Core FFO results for Q1 2026?

In Q1 2026, CMCT’s FFO attributable to common stockholders was $(28.8) million, or $(58.47) per diluted share. Core FFO, which excludes items like preferred redemptions and debt extinguishment, was $(5.9) million, or $(11.89) per diluted share.

What capital structure actions did CMCT take in early 2026?

During Q1 2026, CMCT redeemed approximately $242.8 million of preferred stock into common shares, contributing to about $396.2 million of preferred redemptions since September 2024, which management expects to meaningfully reduce preferred dividend expense going forward.

What was the impact of CMCT’s sale of its lending business First Western?

On January 21, 2026, CMCT completed the sale of its lending business, First Western, for an effective purchase price of about $44.9 million. After paying related debt, expenses and other items, the transaction generated approximately $31.2 million in net cash proceeds.

How did CMCT’s segment NOI change in Q1 2026 versus 2025?

Total segment NOI for Q1 2026 was $9.8 million, down from $11.8 million in Q1 2025. Office same-store NOI declined, hotel NOI fell to $4.0 million from $4.7 million, while multifamily segment NOI was roughly flat at about $(613,000).

Filing Exhibits & Attachments

6 documents

CMCT (NASDAQ: CMCT) posts wider Q1 2026 loss as it redeems $242.8M preferred stock

Rhea-AI Filing Summary

Positive

Negative

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8-K Event Classification

Key Figures

Key Terms

Offering Details

FAQ

How did CMCT (CMCT) perform financially in Q1 2026?

What were CMCT’s FFO and Core FFO results for Q1 2026?

What capital structure actions did CMCT take in early 2026?

What was the impact of CMCT’s sale of its lending business First Western?

How did CMCT’s segment NOI change in Q1 2026 versus 2025?

Filing Exhibits & Attachments

Press Releases

Other Documents

CMCT (NASDAQ: CMCT) posts wider Q1 2026 loss as it redeems $242.8M preferred stock

Rhea-AI Filing Summary

Positive

Negative

Insights

Real estate REIT analyst neutral

8-K Event Classification

Key Figures

Key Terms

Offering Details

FAQ

How did CMCT (CMCT) perform financially in Q1 2026?

What were CMCT’s FFO and Core FFO results for Q1 2026?

How are CMCT’s property occupancies trending in Q1 2026?

What capital structure actions did CMCT take in early 2026?

What was the impact of CMCT’s sale of its lending business First Western?

How did CMCT’s segment NOI change in Q1 2026 versus 2025?

What is CMCT’s undepreciated common book value per share?

Filing Exhibits & Attachments

Press Releases

Other Documents