Belpointe PREP, LLC

**UNITED STATES

SECURITIES AND EXCHANGE COMMISSION****

**Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

(Amendment No. )

Filed by the Registrant ☒

Filed by a Party other than the Registrant ☐

Check the appropriate box:

Belpointe PREP, LLC

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than Registrant)

Payment of Filing Fee (Check all boxes that apply):

Belpointe PREP, LLC

255 Glenville Road

Greenwich, Connecticut 06831

Dear Fellow Unitholders:

Please join us for Belpointe PREP, LLC’s (“we,” “us,” “our,” the “Company” or “Belpointe OZ’s”) annual meeting of unitholders (the “Annual Meeting”) on Monday, October 12, 2026, at 12:00 p.m. Eastern Time, at the offices of the Company at 255 Glenville Road, Greenwich, Connecticut 06831, or at such other time and place to which the Annual Meeting may be adjourned. The Annual Meeting will be held in person only. We ask that unitholders who plan to attend the Annual Meeting in person please contact Belpointe OZ’s Investor Relations Department at 1-833-828-2721 or via email at IR@belpointeoz.com.

Attached to this letter is a notice of Annual Meeting of unitholders and proxy statement, which describe the business to be conducted at the meeting. We urge you to read the accompanying materials regarding the matters to be voted on at the Annual Meeting and to submit your voting instructions by proxy.

Whether or not you plan to attend the meeting, your vote is important to us. You may vote your Class A units by proxy on the Internet, by telephone or by completing, signing and promptly returning a proxy card or voting instruction form, or you may vote in person at the Annual Meeting. We encourage you to vote by proxy by Internet, by telephone or by proxy card or voting instruction form even if you plan to attend the Annual Meeting. By doing so, you will ensure that your Class A units are represented and voted at the Annual Meeting.

Thank you for your continued support of Belpointe OZ.

Sincerely,

/s/ Brandon E. Lacoff

Brandon E. Lacoff

Chairman of the Board and Chief Executive Officer

Belpointe PREP, LLC

255 Glenville Road

Greenwich, Connecticut 06831

NOTICE OF ANNUAL MEETING OF UNITHOLDERS

**To Be Held on October 12, 2026

at 12:00 p.m. Eastern Time

To the Unitholders of Belpointe PREP, LLC:

Notice is hereby given that the annual meeting of unitholders (the “Annual Meeting”) of Belpointe PREP, LLC, a Delaware limited liability company (“we,” “us,” “our,” the “Company” or “Belpointe OZ”), will be held on Monday, October 12, 2026, at 12:00 p.m. Eastern Time, at the offices of the Company at 255 Glenville Road, Greenwich, Connecticut 06831, in person only. We ask that unitholders who plan to attend the Annual Meeting in person please contact Belpointe OZ’s Investor Relations Department at 1-833-828-2721 or via email at IR@belpointeoz.com.

The Annual Meeting is being held for the following purposes:

The Board of Directors of the Company has fixed the close of business on August 21, 2026, as the record date for determining the unitholders having the right to vote at the Annual Meeting or any adjournment thereof. A list of such unitholders will be available for examination by unitholders for any purpose germane to the Annual Meeting during ordinary business hours at the offices of the Company at 255 Glenville Road, Greenwich, Connecticut 06831, during the ten days prior to the Annual Meeting.

In accordance with U.S. Securities and Exchange Commission (the “SEC”) rules that allow us to furnish our proxy materials over the Internet, we are mailing to most of our unitholders a Notice of Internet Availability of Proxy Materials (the “Notice”) instead of a paper copy of the proxy materials. The Notice contains instructions on how to access our proxy materials over the Internet and how to submit a proxy via the Internet. The Notice also contains instructions on how to request a paper copy of our proxy materials.

Your vote is very important! Whether or not you plan to participate in the Annual Meeting, we encourage you to read this proxy statement and submit your proxy or voting instructions as soon as possible.

You will find instructions on how to vote on the proxy card or voting instruction form attached hereto. Most unitholders vote by proxy and do not attend the Annual Meeting in person. However, as long as you were a unitholder at the close of business on August 21, 2026, you have the right to attend the Annual Meeting, or to send a representative, to vote on the proposals being presented.

By Order of the Board of Directors

/s/ Brandon E. Lacoff

Brandon E. Lacoff

Chairman of the Board and Chief Executive Officer

Greenwich, Connecticut

August 27, 2026

Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting To Be Held on October 12, 2026: Our proxy materials and our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and all amendments or supplements to the foregoing materials that are required to be furnished to our unitholders are available at www.proxyvote.com an can be accessed by using the control number and following the instructions located on the Notice.

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PROXY VOTING METHODS

As long as you were a unitholder as of the close of business on August 21, 2026, you have the right to vote your Class A units by proxy over the Internet, by telephone or by mail in advance of the Annual Meeting, or you may vote, or send a representative to vote, in person at the Annual Meeting.

You may also revoke your proxy at the times and in the manners described in the “Questions and Answers About the Proxy Materials and Annual Meeting” section of this proxy statement beginning on page 3. For Class A units held through a broker, bank or other nominee, you may submit voting instructions to your broker, bank or other nominee. Please refer to information from your broker, bank or other nominee on how to submit voting instructions.

Your vote by proxy over the Internet, by telephone or by mail must be received by 11:59 p.m., Eastern Time, on Sunday, October 11, 2026, to be counted. If you hold your Class A units through a broker, bank or other nominee, please refer to information from your bank, broker or nominee for voting instructions.

Vote Over the Internet

Vote by Telephone

Vote by Mail

Vote in Person

If you wish to attend the Annual Meeting and vote in person, please contact Belpointe OZ’s Investor Relations Department at 1-833-828-2721 or by email at IR@belpointeoz.com to reserve your spot and to obtain directions. Please bring the Notice that you receive in the mail or via email to the Annual Meeting. If you hold your Class A units in street name (through a broker, bank or other nominee), you must also obtain a legal proxy from your broker, bank or other nominee to vote in person—bringing the Notice alone will not be sufficient to vote Class A units held in street name.

Electronic Delivery and Paper Copies of Proxy Materials

To receive a copy of Belpointe OZ’s proxy materials by mail or email, free of charge, for this or future unitholder meetings, please contact Broadridge by telephone at 800-579-1639 or by email at sendmaterial@proxyvote.com. Please include “Belpointe PREP Proxy Materials Order” in the subject line and, in the body of the email message, include your full name, address, and request. Please also include the control number in the subject line. To facilitate timely delivery, requests should be received by September 28, 2026.

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TABLE OF CONTENTS

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**BELPOINTE PREP, LLC

255 Glenville Road

Greenwich, Connecticut 06831

**PROXY STATEMENT

FOR

ANNUAL MEETING OF UNITHOLDERS

October 12, 2026