Transaction Details

Footnotes

Pursuant to a Stock Purchase Agreement dated November 14, 2025, Frank Kavanaugh purchased 20,000 shares of common stock for $13.50 per share from Marc Carlson, a member of the Board of Directors of Medalist Diversified REIT, Inc. | Represents shares exchanged under an Exchange Agreement dated November 14, 2025 (the "Exchange Agreement") pursuant to which Mr. Kavanaugh exchanged 2,405 shares of common stock, par value $0.01 per share (the "Common Stock") of Medalist Diversified REIT, Inc. (the "Company"), on a one-for-one basis for 2,405 units of limited partnership interest (the "OP Units") in the Company's operating partnership, Medalist Diversified Holdings, LP (the "Operating Partnership"). | Represents shares exchanged subject to the Exchange Agreement pursuant to which Mr. Kavanaugh exchanged 2,405 shares of Common Stock, on a one-for-one basis for 2,405 OP Units. | OP Units are redeemable for cash or, at the Company's option, shares of Common Stock, on a one-for-one basis after a holding period of one-year. | No expiration date. | On November 14, 2025, the Reporting Person exchanged 2,405 shares of Common Stock for 2,405 OP Units.