SUNS Q2 2026 Earnings Presentation

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N A S D A Q : S U N S | S E C O N D Q U A R T E R 2 0 2 6Investor Presentation A TCG CompanySecond Quarter 2026August 6, 2026

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 2 A TCG Company Forward-Looking StatementsD I S C L A I M E R SSome of the statements contained in this presentation constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995,and we intend such statements to be covered by the safe harbor provisions contained therein. Such forward-looking statements are based on the current intent, belief,expectations and views of future events of Sunrise Realty Trust, Inc. (“SUNS” and the “Company,” “we,” “us” and “our”). The forward-looking statements include, withoutlimitation, any statement that may predict, forecast, indicate or imply future results or performance, and may contain the words “believe,” “anticipate,” “expect,”“estimate,” “intends,” “may,” “project,” “could,” “would,” “will,” or words or phrases of similar meaning. Specifically, this presentation includes forward-lookingstatements regarding (i) our portfolio and strategies for the growth of our commercial real estate lending business; (ii) our strategic focus; (iii) our expectations andestimates regarding the commercial real estate lending business; (iv) our expectations regarding our target geographic market; (v) our expectations regarding the amount,collectability and timing of cash flows, if any, from our loans; (vi) our expected ranges of originations and repayments; and (vii) our investment strategy.Actual results could differ significantly from the results and events discussed in the forward-looking statements due to the factors set forth under the heading “CautionaryNote Regarding Forward-Looking Statements” in the Quarterly Report on Form 10-Q that we filed with the Securities and Exchange Commission (the “SEC”) on August 6,2026 and under the heading “Risk Factors” in the Annual Report on Form 10-K that we filed with the SEC on March 12, 2026, and the other documents we file from time totime with the SEC. The forward-looking statements contained in this presentation involve a number of risks and uncertainties, including factors relating to: our ability toidentify a successful business and investment strategy and execute on our strategy; the ability of our manager to locate suitable loan opportunities for us and to monitorand actively manage our portfolio and implement our investment strategy; our ability to successfully complete our proposed merger (as described herein) and/or realize allof the expected benefits or that such benefits may take longer to realize than expected (including because we expect to incur significant costs associated with suchmerger); our ability to consummate the sale of the San Antonio hotel property on acceptable terms, or at all; our ability to meet our expected ranges of originations andrepayments; the allocation of loan opportunities to us by our manager and our ability to close those loans; our projected operating results; changes in general economicconditions, in our industry and in the commercial finance and commercial real estate markets; the state of the U.S. economy generally or in the specific geographic regionsin which we operate; the impact of a protracted decline in the liquidity of credit markets on our business; the amount, collectability and timing of our cash flows, if any,from our loans and other investments, including investments in real estate acquired through foreclosure and held through joint ventures; our ability to obtain and maintainfinancing arrangements; changes in the value of our loans; losses that may be exacerbated due to the concentration of our portfolio in a limited number of loans andborrowers; our investment and underwriting process; the rates of default or recovery rates on our loans, including our ability to realize value from collateral and real estateacquired through foreclosure; the availability of investment opportunities in mortgage-related and commercial real estate-related instruments and other securities , and ourability to reinvest proceeds from loan repayments, sales and other realizations in a timely manner and on favorable terms; changes in interest rates and impacts of suchchanges on our results of operations, cash flows and the market value of our loans; interest rate mismatches between our loans and our borrowings used to fund such loans;the departure of any of the executive officers or key personnel supporting and assisting us from SUNS Manager (as defined below) or its affiliates; impact of and changes ingovernmental regulations, tax law and rates, accounting guidance and similar matters; our ability to maintain our exemption from registration under the InvestmentCompany Act; our ability to maintain our qualification as a REIT for U.S. federal income tax purposes; estimates relating to our ability to make distributions to ourshareholders in the future; our understanding of our competition; and market trends in our industry, interest rates, inflation, commercial real estate values, the securitiesmarkets or the general economy.We have based the forward-looking statements included in this presentation on information available to us on the date of this presentation, and we assume no obligationto update any such forward-looking statements, whether as a result of new information, future events or otherwise. You are advised to consult any additional disclosuresthat we may make through reports that we have filed, or in the future may file, with the SEC, including the Information Statement, annual reports on Form 10-K, quarterlyreports on Form 10-Q and current reports on Form 8-K.

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 3 A TCG Company Legal DisclosuresD I S C L A I M E R SImportant NoticesThis presentation is by Sunrise Realty Trust, Inc. (“Sunrise Realty Trust”, “SUNS” or the “Company”), a publicly-traded company that elected REIT status for federal incometax purposes commencing with the taxable year ended December 31, 2024. This presentation is provided for informational purposes only and is not an offer to sell, or asolicitation of an offer to buy, any security or instrument. SUNS is managed by Sunrise Manager LLC (“SUNS Manager”). The information contained herein is not intended toprovide, and should not be relied upon for accounting, legal or tax advice or investment recommendations for SUNS or any of its affiliates. We routinely post importantinformation for investors on our website, www.sunriserealtytrust.com. We intend to use this webpage as a means of disclosing material information, for complying with ourdisclosure obligations under Regulation FD and to post and update investor presentations and similar materials on a regular basis. SUNS encourages investors, analysts, themedia and others interested in SUNS to monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls,presentations, webcasts and other information we post from time to time on our website. To sign-up for email-notifications, please visit the “Email Alerts” section of ourwebsite under the “IR Resources” section and enter the required information to enable notifications. Past performance is no guarantee of future results. There is noguarantee that any investment strategy referenced herein will work under all market conditions. You alone assume the responsibility of evaluating the merits and risksassociated with any potential investment or investment strategy referenced herein. The information contained herein is not intended to provide, and should not be reliedupon for accounting, legal or tax advice or investment recommendations for SUNS or any of its affiliates. Certain information contained in the presentation discussesgeneral market activity, industry or sector trends, or other broad-based economic, market or political conditions and should not be construed as research or investmentadvice.This presentation includes financial measures that are not prepared in accordance with GAAP, including Distributable Earnings. We use Distributable earnings as a keyperformance measure to assess our operating performance and to determine the amount of earnings available for distribution to shareholders.Distributable earnings is a non-GAAP measure that adjusts net income (loss) computed in accordance with GAAP to exclude certain non-cash items and/or items that webelieve are not indicative of our ongoing performance. These adjustments may include, but are not limited to, unrealized gains or losses, non-cash compensation expenses,and one-time transaction-related costs.We believe that Distributable Earnings provides meaningful information to investors regarding our operating performance and ability to generate earnings that may bedistributed as dividends. However, Distributable Earnings should not be considered as a substitute for GAAP net income. We caution readers that our methodology forcalculating Distributable Earnings may differ from the methodologies employed by other REITs to calculate the same or similar supplemental performance measures, and asa result, our reported Distributable Earnings may not be comparable to similar measures presented by other REITs.A reconciliation of GAAP net income to Distributable Earnings is included in the appendix to this presentation and in our earnings press release.

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 4 A TCG Company An Institutional Lender to CRE in the Southern U.S.C O M P A N Y O V E R V I E WSunrise Realty Trust (Nasdaq: SUNS) is an institutional lender that originates and funds loans to sponsors of commercial real estate projects primarily in the Southern United StatesSUNS seeks to target a portfolio net internal rate of return (“IRR”) in the low-teensRobust investment process with high-quality originations, methodical due diligence, specialized structuring and ongoing monitoring, emphasizing credit discipline throughout the cycle from sourcing to portfolio management Founded by veteran credit investors Brian Sedrish and Leonard Tannenbaum with investments beginning in 2024Collectively, the management team has structured over $24 billion in CRE and credit transactions Company Overview By the Numbers~1.3%Deal Selectivity Since Inception5TCG REAL ESTATE ORIGINATIONS3~$1.0bnin Active Pipeline4~15%Dividend Yield1$315mmCurrent Commitments$13.45SUNS KEY METRICSBook Value per Share270%Senior LoansSUNS PORTFOLIO COMPOSITION712Portfolio Investments46%Residential Assets$165mmCommitments to EWB LineUp to $200mmEast West Bank (“EWB”) Led Credit Line84Research Analysts Covering SUNS9CAPITAL FORMATIONNote: Company data based on past SEC filings and current financial information. Financial and market data as of 8/3/2026 unless otherwise noted. Aggregate portfolio data shown as of 8/3/2026 excludes the owned asset in San Antonio, Texas. 1. Q2 2026 dividend declared of $0.30 per share annualized and divided by the closing stock price of $7.78 as of 8/3/2026. 2. SUNS book value per share as of 6/30/2026.3. Represents projects for which SUNS and its affiliates are in varying negotiation stages and for which due diligence has not been completed. As such, there can be no assurance that we will proceed with any of these potential investments. A component of these loans may be held through co-investment vehicles managed by a manager affiliated with SUNS Manager.4. TCG refers to Tannenbaum Capital Group and its affiliates. TCG Real Estate (“TCG RE”) refers to Tannenbaum Capital Group’s real estate platform.5. Deal selectivity represents the total number of closed loans since inception divided by the aggregate count of all deals sourced since 10/1/2023 by members of SUNS investment team on behalf of SUNS or on behalf of an entity managed by a manager affiliated with SUNS sponsor.6. Portfolio rate calculated as a weighted average by total SUNS Current Commitment. Rate calculations utilize Chatham Financial forward SOFR projections (as of 8/3/2026), are compounded monthly, may include back leverage, and excludes loans on non-accrual as of the date of calculation. Target performance is not a guarantee or prediction and is not necessarily indicative of future results. Potential investors should not rely on such target performance information in making an investment decision.7. See pages 12-13 for detailed current portfolio composition metrics and calculation assumptions.8. The credit facility provides up to $200 million in borrowing capacity, subject to available borrowing base and additional lender participation, with current total commitments of $165 million.9. Firms covering SUNS by date of initiating coverage report: Alliance Global Partners; Keefe, Bruyette & Woods; B. Riley Securities; Oppenheimer & Co. 12.3⁠%Yield to Maturity6

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 5 A TCG Company Investment HighlightsI N V E S T M E N T H I G H L I G H T Swith no legacy assets in the portfolioIDEAL VINTAGE~$95 billion of CRE deals sourced by SUNS Manager and its affiliates since October 2023, only pursuing ~1.3% of deals sourced1First investments closed in Q1-24 and SUNS currently has an active pipeline of approximately $1.0 billion21with a coming wave of loan maturitiesOPPORTUNE TIMELenders entering U.S. markets with capital to deploy are well-positioned, as legacy lenders with troubled assets face liquidity constraintsOver $1.5 trillion in CRE loans maturing by end of 2027 create opportunity for SUNS to scale quickly32with $24+ billion in CRE and credit investmentsSEASONED TEAM4 Executives with an investment track-record in CRE and structured creditLeveraging demonstrated expertise in managing publicly traded credit vehicles, including multiple business development companies and two REITsStrong alignment with investors given significant ownership by managementon established and high-growth areas in the Southern U.S. STRATEGIC FOCUSAccelerated population and employment migration trends create economic tailwinds for the Southern U.S.4As local investors experienced with the Southern U.S., SUNS targets established markets with strong fundamentals and areas experiencing substantial growth53Note: Company data based on past SEC filings and current financial information. Financial and market data as of 8/3/2026 unless otherwise noted.1. Deal selectivity represents the total number of closed loans since inception divided by the aggregate count of all deals sourced since 10/1/2023 by members of SUNS’ investment team on behalf of SUNS or on behalf of an entity managed by a manager affiliated with SUNS’ sponsor.2. Represents projects for which SUNS and its affiliates are in varying negotiation stages and for which due diligence has not been completed. As such, there can be no assurance that we will proceed with any of these potential investments. A component of these loans may be held through co-investment vehicles managed by a manager affiliated with SUNS Manager.3. Mortgage Bankers’ Association.4. U.S. Census Bureau Data; CoStar Market Data; Federal Reserve Bank of St. Louis.5. Primary target states include FL, TX, GA, TN, NC, SC, AZ, and NV; other states that SUNS will consider, but not limited to, for investment include AL, AR, DE, KY, LA, MD, MS, NM, OK, UT, VA, WV, and D.C.

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 6 A TCG Company Management with Demonstrated Track-RecordM A N A G E M E N T T E A M Founded TCG, an alternative asset management platform focused on real estate and strategic private credit investingFounder and CEO of $5 billion AUM Fifth Street prior to its 2017 sale to Oaktree 30+ YEARS EXPERIENCEFormer Portfolio Manager at Related Fund ManagementFormer Head of Real Estate Acquisitions Special Situations at Deutsche BankPreviously employed at Fortress, Goldman Sachs and Lazard FreresCo-Founder and Partner of TCG, including President of two public REITs 5+ years as Head of Investor Relations for three Fifth Street public entities7+ years focused on mergers and acquisitions and leveraged loans at CIT Group LEONARD TANNENBAUMChief Executive Officer, DirectorBRIAN SEDRISHChief Financial Officer, TreasurerROBYN TANNENBAUMPresident BRANDON HETZELGABRIEL KATZJAMES VELGOTChief Legal OfficerChief Marketing OfficerExecutive Chairman30+ YEARS EXPERIENCE12+ YEARS EXPERIENCE15+ YEARS EXPERIENCE25+ YEARS EXPERIENCE15+ YEARS EXPERIENCEChief Financial Officer and Treasurer of multiple TCG platform entitiesFormer VP of Finance for El-AD National Properties, LLCFormer Manager in REIT audit practice at PwCChief Legal Officer of multiple TCG platform entitiesFormer Corporate & Securities Counsel at AmLaw 100 law firms and Lead Corporate Counsel at a unicorn technology startupAdvised public and private companies in securities offerings and M&AChief Marketing Officer of all TCG platform entitiesFormer Chief Marketing Officer at Fifth Street Asset ManagementFormer Global Head of Brand & Strategic Communications at Alliance BernsteinExecutive team with decades of investment experience in CRE and credit with operational expertise across key business functions

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 7 A TCG Company Right Time, Right PlaceM A R K E T O P P O R T U N I T YSunrise Realty Trust is pursuing an immediately actionable opportunity with a targeted geographical focusPopulation & Employment MigrationWhy the Southern U.S.1 Low Existing Supply of CREBroad Economic DriversGrowth Across Diverse SectorsCOVID accelerated pre-existing trends in population and employment migration to the Southern U.S.The business environment, climate and talent pool are among the factors driving corporations southManufacturing ‘reshoring’ and a shift to value-added sectors further improve the region’s growth prospectsThe Southern U.S. has seen a persistent undersupply of real estate –in terms of quantity and quality Why CRE Debt Today1Elevated Rates & Inflation Regional Bank FailuresPortfolio IssuesRegulatory ForcesThe increase in construction, insurance and borrowing costs squeezes CRE investors across the capital stackLenders dealing with legacy assets have neither the time nor capital to fund new transitional business plansStructural regulatory backdrop further reduces the incentives for banks to lend to transitional real estateSilicon Valley Bank’s and Signature Bank’s collapses have increased the pressure facing other banks to tighten credit conditions 1. Mortgage Bankers’ Association, Newmark Research, and Co-Star Data.

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 8 A TCG Company Demographic Shifts Favor the Southern U.S.M A R K E T O P P O R T U N I T YCOVID had a material impact on U.S. migration patterns, with the Southern U.S. benefiting from increased population and employment growth, which in select key Southern cities is outpacing the rest of the U.S. Migration trends are driving both population and employment growth in the Southern U.S.With employment growth acceleratingin key cities in SUNS’ target states since June 20211. Total growth from 12/31/2019 to 3/31/2026, CoStar Market Data. U.S. Census Bureau Data. 2. Data released on 1/28/2026; Federal Reserve Bank of St. Louis.3. Primary target states include FL, TX, GA, TN, NC, SC, AZ, and NV; Other states that SUNS will consider, but not limited to, for investment include AL, AR, DE, KY, LA, MD, MS, NM, OK, UT, VA, WV, and D.C.Total Population1.8% 9.2%Total Employment3.0%10.8% Office Employment0.4%13.0% Industrial Employment0.9%9.8% Select Southern Cities Outpacing on Employment Growth2Strong Population & Employment Growth1Rest of U.S.Primary Target States3Total Growth Q4-19 to Q2-26Rest of U.S.NashvilleRaleighAtlantaHoustonCharlotteLas VegasPhoenixTampaDallasMiami 0% 4% 8% 12%June2021December2022June2024December2025

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 9 A TCG Company Evolution of a SUNS InvestmentI N V E S T M E N T P R O C E S SContinuous communication across the company from deal sourcing through portfolio managementSOURCING & ORIGINATIONLOAN SELECTION & UNDERWRITINGPORTFOLIO MANAGEMENTSTRUCTURING & CLOSING Maintains a direct origination platform, which works to create enhanced yields and allows for greater controls in deals that SUNS sources and structures Frequent meetings to review pipeline or screen potential opportunities Employs a disciplined screening and underwriting process of potential opportunitiesCriteria include collateral and sponsor analysis, business plan review and exit strategy Once a loan is funded, SUNS monitors the loan internally over its investment lifecycleSUNS or its affiliates typically maintain consent rights over key operational actions (e.g., critical budgets, material leases) The investment committee is involved throughout the investment process, focusing on multiple areas of risk mitigationEngage select group of experienced third-party advisors, including law firms, appraisers, engineers and consultantsMONITORNEGOTIATEEVALUATESOURCEEmphasizing Credit Discipline and Risk Management Throughout the Investment Lifecycle

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 10 A TCG Company Highly-Selective Investment ProcessI N V E S T M E N T P R O C E S SSUNS takes a patient approach to investing, targeting opportunities with clear potential for value creation that meet a defined set of investment criteria POSITIVE MARKET FUNDAMENTALSSOUND BUSINESS PLANSUBSTANTIAL MARGIN OF SAFETYTarget Investment AttributesDEBT STRUCTURE & TERMSSTRONG FINANCIAL SPONSORSupply constrained markets with recognizable demand driversSuperior location within marketInstitutional sponsors and operators with track records and expertiseAlignment of interests through appropriate capital commitmentsReadily executable strategy to stabilize propertyAbility to refinance upon stabilization or protect in downside caseSignificant equity cushion to absorb potential lossesConservative leverage provides strategic flexibility and mitigates riskSponsorTransactionBusiness PlanMarket

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 11 A TCG Company Robust Direct Origination PlatformA C T I V E P I P E L I N ESUNS’ relationship with its Manager, coupled with its focus on key growth markets in the Southern United States, continues to provide access to a robust and attractive investment pipeline, originated through a multi-channel network ~1.3%Deal Selectivity Since Inception6~$1.0bnCurrently in Active Pipeline5Sector and product expertise paired with local knowledge generates targeted inboundsReputation as a credible, reliable and regionally-focused partnerDeep network of long-standing relationshipsSolution-driven flexibility and negotiating in good faith solidify repeat partnerships Co-LendersOwners / OperatorsBrokersPrivate Equity FirmsOther Financial Institutions3rdParty DatabasesREITsSourcing Channels $997mmClosed Deals2$315mmCurrent SUNS Commitments3Loan Commitments in PortfolioClosed since InceptionLoans Principal Balance in PortfolioSourcing~$95bnCRE Deals Sourced1$249mmSUNS Principal Balance4 Multiple Origination Channels TCG Real Estate Loan PipelinePowerful Deal Flow EngineNote: All data is provided as of 8/3/2026 and refers to CRE loans across the TCG Real Estate platform, in each case unless otherwise specified.1. Comprising all deals sourced since 10/1/2023 by members of SUNS investment team on behalf of SUNS or on behalf of an entity managed by a manager affiliated with SUNS sponsor. 2. Represents full loan amounts on loans closed since 10/1/2023, including loans held by SUNS and through one or more co-investment vehicles managed by a manager affiliated with SUNS Manager.3. Represents current SUNS loan commitments on loans closed since 10/1/2023, excluding the owned asset in San Antonio, Texas.4. Represents current SUNS principal balance on loans closed since 10/1/2023, excluding the owned asset in San Antonio, Texas. 5. Represents projects for which SUNS and its affiliates are in varying negotiation stages and for which due diligence has not been completed. As such, there can be no assurance that we will proceed with any of these potential investments. A component of these loans may be held through co-investment vehicles managed by a manager affiliated with SUNS Manager.6. Deal selectivity represents the total number of closed loans since inception divided by the aggregate count of all deals sourced since 10/1/2023 by members of SUNS’ investment team on behalf of SUNS or on behalf of an entity managed by a manager affiliated with SUNS’ sponsor.

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 12 A TCG Company Sunrise Realty Trust Portfolio DetailP O R T F O L I O S U M M A R Y $315millionTotal Current Commitments12# of Portfolio Investments12.3%Yield to Maturity2 3.9%Weighted Average SOFR Floor146%Residential Assets5March 2028Weighted Avg. Current Maturity5Note: Company data based on past SEC filings and current financial information. All aggregate portfolio data shown as of 8/3/2026 excludes the owned asset in San Antonio, Texas. 1. Total / Wtd. Avg. is calculated on total SUNS Principal Balance. SOFR rate of 3.65011% used for all-in Interest Rate calculation is as of 8/3/2026.2. Rate calculations utilize Chatham Financial forward SOFR projections (as of 8/3/2026), are compounded monthly, may include deal specific back leverage and excludes loans on non-accrual as of the date of calculation. Portfolio rate calculated as a weighted average by total SUNS Current Commitment. Target performance is not a guarantee or prediction and is not necessarily indicative of future results. Potential investors should not rely on such target performance information in making an investment decision.3. Cash interest rate is SOFR (4.00% floor) + 9.50% spread (13.50% all-in cash interest rate) plus 1.00% PIK (14.50% all-in interest rate rate). 4. In March 2026, the Company exercised the right to foreclose on the hotel property that was the underlying collateral for the San Antonio Loan.5. Total or weighted average is calculated on total SUNS Current Commitment. As of August 3, 2026 and $ in millions unless otherwise notedProject Property Investment Funding CurrentCurrent% TotalPrincipalInterest Fixed / Yield toLocation Type Type Date MaturityCommitmentPortfolioBalanceRate1FloatingMaturity2Senior LoansFt. Lauderdale, FL Residential Construction Nov-24 Dec-26 $30.0 9.5% $21.2 11.5% Floating 14.6%Austin, TX Hospitality Refinance Dec-24 Dec-27 32.0 10.2% 32.0 9.5% Floating 11.4%Aventura, FL Residential Refinance Jan-25 Jan-27 30.8 9.8% 30.8 9.0% Floating 10.9%New Orleans, LA Net Leased Tenant Construction Jan-25 Jan-28 44.0 14.0% 29.6 10.1% Floating 10.9%Park City, UT Residential Construction Jun-25 Aug-27 9.3 2.9% 5.2 11.3% Floating 12.9%Miami, FL Residential Construction Sep-25 Sep-28 35.0 11.1% 27.1 8.4% Floating 10.0%Doral, FL Industrial Construction Oct-25 Oct-27 4.2 1.3% 4.0 10.0% Floating 14.1%West Palm Beach, FL Industrial Construction Oct-25 Oct-27 16.2 5.2% 2.1 10.0% Floating 14.4%Houston, TX Retail Refinance Oct-25 Oct-28 30.0 9.5% 22.9 9.5% Floating 10.6%Subordinate LoansMiami, FL Residential Construction Nov-24 Nov-27 $13.0 4.1% $12.0 13.3% Fixed 15.3%Miami, FL3Residential Construction Mar-25 Dec-28 25.8 8.2% 20.1 14.5% Floating 15.2%Diversified Hospitality Refinance Feb-26 Feb-29 44.9 14.2% 41.9 11.9% Floating 13.3%Real Estate Owned AssetsSan Antonio, TX4Hospitality REO Aug-24 – $– – $– – – –Total / Wtd. Avg. Mar-28$315.0 100.0% $248.810.6%12.3%

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 13 A TCG Company SUNS Portfolio CompositionP O R T F O L I O C O M P O S I T I O NThe SUNS portfolio consists primarily of senior, floating-rate loans collateralized by high-quality residential and commercial real estate assets located in growing markets across the Southern United States. The team plans to continue expanding the loan book across its target geographies, while broadly maintaining its historical sector exposure The team will continue its focus on curating a portfolio of loans collateralized by top tier assets, with a particular emphasis on high-quality residential and mixed-use assets and, selectively high-quality hospitality and specialty-use assetsOur portfolio is primarily floating rate with SOFR floorsSUNS portfolio primarily consists of senior loans, while we have also pursued select subordinate loan investmentsPortfolio Composition by Loan Principal OutstandingPortfolio Composition by Current Loan CommitmentsGeographic exposure is concentrated in Florida and Texas with pipeline assets broadening our presence across the Southern U.S. Note: All data provided is based on CRE loans in the SUNS portfolio as of 8/3/2026, and excludes the owned asset in San Antonio, Texas. 1. Residential includes multifamily, for sale condominiums, and for sale single family communities. Residential46%Hospitality24%Net Leased Tenant14%Retail10%Industrial6%PROPERTY TYPEFlorida49%Other31%Texas20%GEOGRAPHY Floating95%Fixed5%INTEREST RATE TYPESenior70%Subordinate30%LOAN SENIORITY

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 14 A TCG Company Strategy Meets Opportunity – Key TakeawaysK E Y T A K E A W A Y SThe Right LeadershipThe RightMarket Opportunity The RightStrategySunrise Realty Trust is positioned to take advantage of converging trends favoring CRE in the Southern U.S.AbilityOpportunityStrategyTwo Converging Trends Have Created a Unique Market OpportunityMarket dislocations in CRE have drained liquidity, causing a value shift from borrowers to lendersSouthern U.S. migration trends have amplified the supply-demand imbalance for quality real estateSunrise Realty Trust is Well Suited to Capitalize on Converging TrendsSpecific expertise in transitional real estateBringing local insight and connectionsAbility to transact across the capital stackLeadership’s cycle-tested track-record in CRERight Time, Place and Team To Execute SUNS Investment StrategyTarget transitional real estate projects with near-term value creationInvest in markets and sectors with strong fundamentalsFocus on Southern U.S. areas with unmet demandTargeting Equity-Like Returns at Debt-Like Risk LevelsFewer competitors Higher pricing powerLow supply of transitional debtHigher absolute returnsStronger covenants Favorable risk positionObjective

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 15 A TCG Company Proposed Merger with Southern Realty Trust Inc.P R O P O S E D M E R G E ROn August 6, 2026, SUNS announced that it has entered into a definitive merger agreement (the “Merger Agreement”) with Southern Realty Trust Inc. ("SRT"), pursuant to which SUNS will acquire SRT through the merger of SRT with and into a wholly owned subsidiary of SUNS. SRT is a private mortgage REIT managed by an affiliate on the TCG Real Estate platformEach share of SRT common stock will be converted into the right to receive (i) 1.45 newly issued SUNS common stock,based on an exchange ratio applying a 6.0% premium to SRT’s book value per share relative to SUNS’ book value per shareas of June 30, 2026, and (ii) $0.05 per share in additional cash consideration paid by SUNS ManagerSUNS expects to issue approximately 8.4 million common shares as merger consideration. Following closing, existingSUNS stockholders and former SRT stockholders are expected to own approximately 62% and 38%, respectively, of thecombined companyAt closing, SUNS’ management agreement with SUNS Manager will be amended and restated to (i) reduce the incentivefee rate from 20% to 17.5%, (ii) reduce the annual hurdle rate from 8% to 7%, and (iii) provide $1.0 million in the aggregatemanagement fee waiver over four quarters for the benefit of all SUNS stockholdersFollowing closing, the combined company will continue as Sunrise Realty Trust, Inc., trade on Nasdaq under the ticker“SUNS” and be externally managed by SUNS Manager. Brian Sedrish will continue as Chief Executive OfficerAt closing, the SUNS board will add one independent director designated by SRT, subject to SUNS board approvalTRANSACTION TERMS:Oppenheimer & Co. Inc. and Venable LLP are serving as financial and legal advisors, respectively, to the special committeeof the SUNS board. Hunton Andrews Kurth LLP is serving as legal counsel to SUNSSUNS ADVISORS:The merger and other transactions contemplated by the Merger Agreement and the terms thereof were evaluated,negotiated and unanimously recommended to each of SUNS’ and SRT’s boards by special committees of each of SUNS’and SRT’s boards, respectively, each comprised solely of disinterested, independent directors. The merger and othertransactions contemplated by the Merger Agreement and the terms thereof were separately unanimously approved andadopted by SUNS’ and SRT’s boards, with directors for both companies unanimously approving the merger and othertransactions contemplated by the Merger AgreementThe Merger Agreement provides for a 30-day “go-shop” period beginning on the signing date and expiring at 12:01 a.m.Eastern Time on September 5, 2026, during which SRT and its representatives may actively solicit, evaluate and negotiatealternative acquisition proposalsGOVERNANCE AND PROCESS:The transaction is subject to SUNS and SRT stockholder approval and other customary closing conditions but is not subjectto any financing conditions. SUNS expects to file a proxy statement with the SEC containing additional information.Closing is expected in the fourth quarter of 2026TIMING AND APPROVALS:

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 16 A TCG Company Merger Strategic RationaleP R O P O S E D M E R G E R 1. As of June 30, 2026. Consolidation of Co-InvestmentsSUNS and SRT are co-lenders across the same portfolio of loans. The merger consolidates these existing co-investments into a single balance sheet, simplifying the platform without introducing a new investment strategy or unfamiliar assets.1Reduced Cost StructureThe elimination of duplicative audit, legal, administrative, board and compliance costs inherent in maintaining two separate REIT platforms is expected to generate annualized G&A savings on a combined basis, increasing margin, before giving effect to the SUNS Manager’s management fee waiver of $1.0 million.3 Enhanced Public Market ProfileThe increase in public float and market capitalization is expected to enhance the combined company’s visibility among institutional investors and eligibility for broader index participation and may improve average daily trading volume and secondary-market liquidity over time.2Better Access to CapitalA larger combined balance sheet is expected to support broader access to institutional capital and financing and provide a stronger platform for future capital formation.4 $289 millionPro Forma Total Book Value1$534 millionPro Forma Total Assets1$604 millionPro Forma TotalLoan Commitments1Anticipated Increase in MarginPotential Annual G&A Savings on a Combined Basis

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N A S D A Q : S U N S | S E C O N D Q U A R T E R 2 0 2 6 17 A TCG Company Appendix

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 18 A TCG Company Consolidated Balance SheetsS E C O N D Q U A R T E R 2 0 2 6 R E S U L T SAs ofDecember 31, 2025June 30, 2026(unaudited)Assets$ 302,674,743$ 296,753,498Loans held for investment at carrying value, net(1,891,170)(932,221)Current expected credit loss reserve300,783,573295,821,277Loans held for investment at carrying value, net of current expected credit loss reserve6,445,3285,593,575Cash and cash equivalents2,264,1332,539,215Interest receivable—25,925,934Investment in unconsolidated real estate joint venture735,230843,591Prepaid expenses and other assets$ 310,228,264$ 330,723,592Total assetsLiabilities$ 730,644$ 809,047Accrued interest4,026,2964,055,220Dividends payable178,066176,639Current expected credit loss reserve692,716878,995Accrued management and incentive fees282,296891,346Accrued direct administrative expenses355,865414,260Accounts payable and other liabilities102,250,00082,550,000Line of credit payable19,750,00059,100,000Line of credit payable to affiliate128,265,883148,875,507Total liabilitiesCommitments and contingencies (Note 8)Shareholders' equity——Preferred stock, par value $0.01 per share, 10,000 shares authorized at June 30, 2026 and December 31, 2025 and 0 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively134,210135,174Common stock, par value $0.01 per share, 50,000,000 shares authorized at June 30, 2026 and December 31, 2025 and 13,517,402 and 13,420,986 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively186,745,489187,411,971Additional paid-in capital(4,917,318)(5,699,060)Accumulated (deficit) earnings181,962,381181,848,085Total shareholders' equity$ 310,228,264$ 330,723,592Total liabilities and shareholders' equity

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 19 A TCG Company Consolidated Statements of OperationsS E C O N D Q U A R T E R 2 0 2 6 R E S U L T S(Unaudited)Six months endedJune 30,Three months endedJune 30,2025202620252026Revenue$ 11,711,202$ 18,837,381$ 6,752,679$ 8,564,695Interest income(1,419,371)(5,713,418)(1,083,212)(2,745,781)Interest expense10,291,83113,123,9635,669,4675,818,914Net interest incomeExpenses689,1402,514,131689,140878,995Management and incentive fees1,413,0831,552,882659,957809,783General and administrative expenses502,687667,446259,066297,484Stock-based compensation643,029474,885234,497231,666Professional fees3,247,9395,209,3441,842,6602,217,928Total expenses(586,141)(617,531)(468,493)(557,248)Provision for current expected credit losses6,457,7517,329,3753,358,3143,076,025Net income before income taxes————Income tax expense$ 6,457,751$ 7,329,375$ 3,358,314$ 3,076,025Net incomeEarnings per common share:$ 0.52$ 0.54$ 0.25$ 0.23Basic$ 0.52$ 0.54$ 0.25$ 0.23DilutedWeighted average number of common shares outstanding:12,227,52013,324,62613,235,82313,329,968Basic12,245,12813,335,82213,259,76213,346,375Diluted

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N A S D A Q : S U N S | I N V E S T O R P R E S E N T A T I O N 20 A TCG Company Reconciliation of GAAP Net Income to Distributable EarningsS E C O N D Q U A R T E R 2 0 2 6 R E S U L T SSix months endedJune 30,Three months endedJune 30,2025202620252026$ 6,457,751$ 7,329,375$ 3,358,314$ 3,076,025Net incomeAdjustments to net income:502,687667,446259,066297,484Stock-based compensation expense————Depreciation and amortization————Unrealized (gains) losses, or other non-cash items586,141617,531468,493557,248Provision for current expected credit losses————TRS (income) loss————One-time events pursuant to changes in GAAP and certain non-cash charges$ 7,546,579$ 8,614,352$ 4,085,873$ 3,930,757Distributable earnings12,227,52013,324,62613,235,82313,329,968Basic weighted average shares of common stock outstanding$ 0.62$ 0.65$ 0.31$ 0.29Distributable earnings per basic weighted average share

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A TCG CompanyContact Usir@theTCG.comwww.SunriseRealtyTrust.com

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