Chicago Atlantic Real Estate Finance Inc

On and effective March 7, 2024, the Board of Directors (the “Board”) of Chicago Atlantic Real Estate Finance, Inc. (the “Company”), appointed Peter Sack as Co-Chief Executive Officer of the Company. Mr. Sack will serve as the Company’s Co-Chief Executive Officer alongside Anthony Cappell, who has served as the Company’s Chief Executive Officer since the Company’s inception in 2021. Additionally, the Board appointed Andreas Bodmeier as President of the Company and removed the interim designation and appointed Phillip Silverman as Chief Financial Officer of the Company. Mr. Sack will serve as the Company’s Principal Executive Officer and Mr. Silverman will continue to serve as the Company’s Principal Financial Officer and Principal Accounting Officer, as such terms are used in the Securities and Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

There is no family relationship between Messrs. Sack and Bodmeier and any other person that would require disclosure under Item 401(d) of Regulation S-K. Neither Messrs. Sack nor Bodmeier is a party to any transaction that would require disclosure under Item 404(a) of Regulation S-K and there has been no change to any of their compensation arrangements as a result of their appointments.

On December 11, 2024, Mr. Donald Gulbrandsen, notified the Board of his resignation effective as of January 1, 2025, from his position as a member of the Board, and all committees of the Board that he served on. Mr. Gulbrandsen's resignation was not a result of any disagreement with the Company or any matter relating to the Company's operations, policies, or practice.

On December 27, 2024, Dr. Andreas Bodmeier, notified the Board of his resignation effective as of January 1, 2025, from his position as a non-independent member of the Board. Dr. Bodmeier''s resignation was solely for the purpose of ensuring that the Board remain majority independent as required by NASDAQ Listing Rule 5605(b) following the resignation of Mr. Gulbrandsen. Dr. Bodmeier remains an officer of the Company in his capacity as President and Chief Investment Officer.

None of the Company’s officers or directors have adopted, modified orterminated trading plans under either a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of Regulation S-K of the Securities Act of 1933) for the three months ended December 31, 2024.

Insider Trading Policy

The Company hasadopted an insider trading policy governing the purchase, sale or other dispositions of our securities applicable to its directors, officers and employees, which is included as an exhibit to this annual report on Form 10-K.