Alpine Income Property Trust, Inc. ($PINE)

Hello, and welcome to the Annual Meeting of Stockholders of Alpine Income Property Trust Inc. Please note that today's meeting is being recorded. It is now my pleasure to turn this morning's meeting over to Andrew S. Richardson, Chairman of the Board of Alpine Income Property Trust. Mr. Richardson, the floor is yours.

Thank you, operator. Good afternoon, everyone. Pursuant to the company's third amended and restated bylaws, I will preside as Chair of this meeting. I would like to welcome all of you to the 2026 Annual Meeting of Stockholders of Alpine Income Property Trust. We are conducting this meeting in virtual format only, which will enable stockholders to listen to the proceedings from any computer, tablet or handheld device that has Internet connectivity. The senior management team is located at the company's corporate office in Daytona Beach, Florida and all of the independent directors as well as Computershare, the inspector of elections and a representative of Grant Thornton, our independent registered public accounting firm, are participating via conference call. I understand we have approximately 5 others who are listening to the meeting via the virtual meeting portal. Mr. Daniel Smith, Corporate Secretary of the company, will act as Secretary of the meeting. Now to proceed with the business of the meeting. Mr. Smith will confirm that the notice of this meeting was given to all stockholders as of the record date for the meeting. Dan?

I hereby certify that the stockholder meeting notice regarding the notice of Annual Meeting of Stockholders and availability of the 2026 proxy statement over the Internet was mailed to stockholders of record as of March 19, 2026, and that the mailing commenced on April 7, 2020. The -- additional copies of the proxy statement and a complete list of the stockholders of record as of the record date are available for your inspection and have been properly filed with the minutes of this meeting.

Thank you, Dan. I would now like to introduce Ms. Christine Abbey of Computershare Trust Company NA, who is participating in the meeting via conference call. Computershare has been appointed as Inspector of Elections for this meeting. Ms. Abbey's oath as inspector of elections will be filed with the minutes of the meeting. Ms. Abbey will confirm the presence of a quorum when she completes her tally of stockholders' proxies and ballots. Now it is my pleasure to introduce your current Board of Directors. In addition to myself, John Albright, Rachel Eliasen, Parson, good and Brenna Wadley. A copy of the agenda for the meeting is available on the virtual meeting portal, along with a list of the rules of conduct for the meeting. By following those rules and procedures, stockholders of record and beneficial owners who obtained a legal proxy from their share custodian who logged in with their unique 15-digit control number issued by Computershare will have an opportunity to participate in the meeting, and we will be able to handle the business of the meeting efficiently and fairly. As stated in the rules of conduct, only those stockholders or their representatives who are logged into the virtual meeting with their 15-digit control number will have an opportunity to vote their shares and submit questions during the meeting. As stated in the rules of conduct, we ask that you restrict any questions to the items on the meeting agenda. Please note that any questions submitted during the meeting will be answered later in the meeting after the formal business portion of the meeting has concluded. Thank you for your cooperation with these rules. It is now time to begin the formal part of the meeting. As noticed in the notice and proxy statement previously furnished to you, the record date for stockholders entitled to vote at the meeting was the close of business on March 19, 2026. We believe that the total number of shares of the company, which are held by holders of record now present at the meeting, either in person or by proxy, is sufficient to declare that we have a quorum. Such determination is subject to verification by the inspector of elections. The next order of business to come before this meeting is a description of the matters properly brought before today's meeting. As you are aware, proposals and director nominations from the company's stockholders. In addition to be properly brought before this meeting must have been submitted by December 9, 2025. No stockholder proposals or nominations were properly submitted which means that the only proposals and nominations properly before this meeting are those submitted by the Board. Voting on the proposals will commence after all proposals have been presented. The first proposal before the stockholders of the company is the election of 5 directors for 1-year terms expiring upon the election and qualification of directors at the company's 2027 Annual Meeting of Stockholders. The Board of Directors of the company has recommended the election of John Albright, Rachel Eliasen, Carsten Good, Andy Richardson and Brenna Wadley to the Board. These 5 individuals are the only persons who have been nominated to stand for election to the 5 positions on our Board of Directors. No other nominations were made in compliance with the company's bylaws. Accordingly, all nominations are closed. We will now move to proposal 2. The second proposal before the stockholders of the company is an advisory vote to approve executive compensation described on Page 30 of the proxy statement. We will now move to proposal 3. The third proposal before the stockholders of the company is the ratification of the appointment of our Audit Committee -- by our Audit Committee of Grant Thornton LLP as the company's independent registered public accounting firm for fiscal year 2026, which is described on Page 31 of the proxy statement. The next order of business is about on the proposals. It is currently 3:06 p.m., and I declare the voting open. Stockholders who logged into the virtual meeting portal using their unique 15-digit control number may vote their shares during the meeting. In addition, prior to today's meeting, voting on the proposals was conducted by proxy via mail, and Internet. [Voting]

It is currently 3:02 p.m. and I declare the voting closed. The inspector of election will now count the votes. Will the Secretary please report the results of the voting?

We have been informed by the inspector of elections that the ballots have been counted and that the 5 nominees for election to the Board for a 1-year term have all been duly elected. The advisory vote regarding executive compensation has been in the affirmative, and the appointment of Grant Thornton LLP has been ratified.

Consistent with the company's bylaws, no advanced notice has been given to the company regarding any other business to be conducted at this meeting. Therefore, no other business will be considered at this meeting. The official business portion of this meeting is now adjourned. Before we disperse, however, as is customary, we would like to turn our remaining time over to the company's President and CEO, John Albright, we will now address any questions that have been submitted during the meeting. If you have a question or comment, please follow the instructions on the virtual meeting portal, and please follow the rules and procedures for conduct of the meeting that were previously made available to you. And -- thank you, Dan. That concludes the Q&A answer session. Thank you again for your attendance

This concludes the meeting, and you may now disconnect.