ARBOR REALTY TRUST INC

Rule 10b5-1 Plan Elections. During the period covered by this report, no Arbor director or officer adopted, modified orterminated any "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408 of Regulation S-K.

Supplement to U.S. Federal Income Tax Considerations. The following summary of certain U.S. federal income tax considerations supplements the discussion set forth under the heading “U.S. Federal Income Tax Considerations” in the shelf registration statement on Form S-3ASR filed with the SEC on May 3, 2024, including the base prospectus dated as of May 3, 2024 (the “Prospectus”), as amended under the heading “Risk Factors” in our Annual Reports on Form 10-K for the years ended December 31, 2024 and December 31, 2025, and is subject to the qualifications set forth therein. Capitalized terms used but not defined herein have the meanings set forth in the Prospectus. The following summary is for general information only and is not tax advice. This discussion does not purport to deal with all aspects of taxation that may be relevant to our stockholders in light of their personal investment or tax circumstances.

The OBBBA modified certain disclosures under “U.S. Federal Income Tax Considerations” in the Prospectus. Please see below for a brief description of these modifications.

•As described in the Prospectus, stockholders that are individuals, trusts or estates are generally entitled to a deduction equal to 20% of the aggregate amount of ordinary income dividends received from a REIT (not including capital gain dividends or dividends eligible for the reduced rates applicable to “qualified dividend income”), subject to certain limitations. Although originally scheduled to expire for taxable years beginning on or after January 1, 2026, the legislation made this 20% deduction permanent; and

•The limitation on a REIT’s ownership of TRS securities has been increased from 20% to 25% of the REIT’s total assets, effective for taxable years beginning after December 31, 2025.