Belpointe PREP, LLC Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Property, Plant & Equipment	524.47	477.93	346.07	194.55	115.01	16.2
Total Real Estate Assets	524.47	477.93	346.07	194.55	115.01	28.26
Cash & Equivalents	29.64	24.74	20.13	143.47	192.13	6.58
Other Receivables	-	-	-	-	20.3	-
Other Intangible Assets	7.2	7.34	7.47	8.7	9.29	1.99
Loans Receivable Current	-	-	-	-	3.46	-
Restricted Cash	6.14	4.09	3.46	1.5	0.22	-
Trading Asset Securities	0.03	0	0.09	-	-	-
Other Long-Term Assets	3.29	3.48	4.9	5.77	1.03	0.45
Total Assets	570.78	517.59	382.12	354	341.43	37.28
Current Portion of Leases	-	0.08	-	-	-	-
Long-Term Debt	251.44	177.02	19.68	-	-	-
Long-Term Leases	1.15	1.15	1.32	7.13	2	-
Accounts Payable	12.41	13.32	12.58	1.69	1.35	0.09
Accrued Expenses	19.12	19.37	19.47	12.53	3.21	0.79
Other Long-Term Liabilities	-	-	-	-	-	1.5
Total Liabilities	286.72	213.53	57.05	21.34	17.55	37.38
Common Stock	281.79	301.78	322.63	329.48	323.68	-0.1
Total Common Equity	281.79	301.78	322.63	329.48	323.68	-0.1
Minority Interest	2.27	2.28	2.44	3.17	0.19	-
Shareholders' Equity	284.06	304.06	325.06	332.65	323.88	-0.1
Total Liabilities & Equity	570.78	517.59	382.12	354	341.43	37.28
Total Debt	255.19	180.84	25	7.13	12.99	35.01
Net Cash (Debt)	-225.52	-156.1	-4.78	136.34	179.14	-28.43
Net Cash (Debt) Growth	-	-	-	-23.89%	-	-
Net Cash Per Share	-57.96	-41.47	-1.29	37.63	51.45	-
Filing Date Shares Outstanding	3.89	3.77	3.73	3.62	3.48	-
Total Common Shares Outstanding	3.89	3.76	3.72	3.62	3.48	-
Book Value Per Share	72.42	80.17	86.67	90.93	92.95	-
Tangible Book Value	274.59	294.43	315.15	320.78	314.39	-2.09
Tangible Book Value Per Share	70.57	78.22	84.66	88.53	90.29	-
Land	63.12	51.04	38.74	38.74	22.12	9.55
Buildings	407.23	238.68	17.94	17.84	16.26	3.64
Construction In Progress	57.9	191.31	291.13	133.9	76.88	3.04

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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