ACRES Commercial Realty Corp.

During the three months ended September 30, 2025, no director or officer of the Company adopted, modified orterminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.

Morgan Stanley Amendments

On November 3, 2025, we entered into the Third Amendment to the Master Repurchase and Securities Contract Agreement (the “3 rd Morgan Stanley Amendment”) by and between us and Morgan Stanley Mortgage Capital Holdings LLC (“Morgan Stanley”), which makes certain amendments and modifications to the Master Repurchase and Securities Contract Agreement, dated November 3,

2021 between us and Morgan Stanley (as amended the “MS MRA”) including but not limited to extending the agreement to November 2026.

On November 5, 2025, we entered into the Fourth Amendment to the Master Repurchase and Securities Contract Agreement (the “4 th Morgan Stanley Amendment”) by and between us and Morgan Stanley, which makes certain amendments and modifications to the MS MRA including but not limited to increasing the facility amount to $400 million, as increased from time to time, provided the amount shall be automatically reduced to $250 million on the earlier of May 2026 or when we send a request for a reduction in the facility amount. Provided certain conditions are met, prior to May 2026, we can request that the facility amount be increased to $500 million.

The foregoing descriptions of the 3rd Morgan Stanley Amendment and the 4th Morgan Stanley Amendment do not purport to be complete and are qualified in their entirety by reference to the full text of the 3rd Morgan Stanley Amendment and the 4th Morgan Stanley Amendment, which have been filed with this Quarterly Report on Form 10-Q as Exhibits 99.2(h) and 99.(i).