Creative Media & Community Trust Corporation — Investor Presentation 2022

May 11, 2022

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Free Writing Prospectus | Creative Media & Community Trust Corporation

Filed Pursuant to Rule 433 | Dated May 10, 2022 | Registration Statement No. 333-233255

Creative Media & Community Trust Corporation (formerial Trust Corporation) ("CMCT") has filed a registration statement (including a base prospectus) with the Secrities and Exchange Commission (the "SEC") in respect of the offering to which this communication relates. Before you participate in CMCT's offering of Series D Prefered Stock, you should read the prospectus supplement, dated January 28, 2020, and the accompanying base prospectus, dated December 4, 2019, as supplement No. 7, dated September 22, 2021. Before making any investment in such offering, you should read the other the SEC for more complete information about CMCT and such offering. You may obtain these documents for free by visiting EDGAR on the SEC web site at www.sec.gov. You may request to receive a prospectus in respect of either of the foregoing offerings by calling toll-free at 1-866-341-2653.

Note: All pages of the presentation must be viewed in conjunt Disclosures starting on page 30. See "Propety Pictures" on page 30 under Important. Disclosures vernediacommunity.com | | CMCT Creative Media & Community Trust Corporation

Forward-looking Statements

The information set forth herein contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), which are intended to be covered by the safe harbors created thereby. Such forward-looking statements include the timing and terms of the rights offering and the future activities and performance of CMCT, and may be identified by the use of forward-looking terminology such as "may," "will," "project," "target," "expect," "intend," "might," "believe," "anticipate," "estimate," "could," "would," "continue," "pursue," "potential," "forecast," "seek," "plan," "opportunity," "should", or "goal" or the negative thereof or other variations or similar words or phrases. Such forward-looking statements also include, among others, statements about CMCT's plans and objectives relating to future growth and availability of funds. Such forwardlooking statements are based on particular assumptions that management of CMCT has made in light of its experience, as well as its perception of expected future developments and other factors that it believes are appropriate under the circumstances. Forward-looking statements are necessarily estimates reflecting the judgment of CMCT's management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include those associated with (i) the scope, severity and duration of the current pandemic of COVID-19, and actions taken to contain the pandemic or mitigate its impact, and the winding down or termination of government assistance programs implemented to address the pandemic, (ii) the adverse effect of COVID-19 on the financial condition, results of operations, cash flows and performance of CMCT and its tenants and business partners, the real estate market and the global

economy and financial markets, among others, (iii) the timing, form, and operational effects of CMCT's development activities, (iv) the ability of CMCT to raise in place rents to existing market rents and to maintain or increase occupancy levels, (v) fluctuations in market rents, including as a result of COVID-19, (vi) the effect of inflation and higher interest rates on the operations and profitability of CMCT and (vii) general economic, market and other conditions. Additional important factors that could cause CMCT's actual results to differ materially from CMCT's expectations are discussed under the section "Risk Factors" in CMCT's Annual Report on Form 10-K for the year ended December 31, 2021. The forward-looking statements included herein are based on current expectations and there can be no assurance that these expectations will be attained. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond CMCT's control. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included herein will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by CMCT or any other person that CMCT's objectives and plans will be achieved. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made. CMCT does not undertake to update them to reflect changes that occur after the date they are made, except as may be required by applicable law.

Note: All pages of he presentation mist be important Disclosures stating on page 30. See "Property Pictures" on page 30 under important Ustosures.
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CMCT

CIM Group: Manager of CMCT

1994 Established	720+ Real Assets Owned and Operated	\$31.2B Assets Owned and Operated	1,000+ Employees	10 Corporate Offices Worldwide
CIM Group ("CIM") is a community-focused real estate and infrastructure owner, operator, lender and developer.	Key CIM Group Projects	16.4% / 2.66X	1.9% / 1.70x
CIM Group owns ~41.3% of CMCT 1	518,250 SF For Sale Residential, Ground Floor Retail	432 Park Avenue New York City	Sunset La Cienega Los Angeles 384,500 SF Hotel, For Sale Residential, Ground Floor Retail	The Independent Austin 491,000 SF For Sale Residential, Ground Floor Retail, Parking
Competitive Advantages Community-Based Investment Approach Vertically-Integrated Organization		49.6% / 3.08x		34% / 2078
Disciplined Underwriting	11 Madison New York City 2.2M SF Class A Office, Ground Floor Retail, Storage	Seaholm Austin	551,000 SF For Sale Residential, 143,000 SF Ground Floor Retail, Parking	Santa Monica Westgate Los Angeles Residential, Ground Floor Retail

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CMCT

Creative Media & Community Trust Corporation ("CMCT") CMCT

CMCT primarily focuses on the acquisition, ownership, operation and development of specialty office and CMCT Portfolio multifamily assets in vibrant and Stabilized Portfolio . emerging communities. NASDAQ: CMCT | TASE: CMCT-L

Past performance is no guarantee of future results.
1) Based on stock price as of May 9, 2022, 2) See Capital Returned to
Shareholders on page 30. 3) Property counter sto

te: All pages of the presentation must be viewed in conju

5.4%

Dividend Yield1

~\$70 / Share

Distributions to Shareholders Since 20142

9 Class A and creative office properties 88% leased in aggregate

• · Value-Add (Multifamily, Creative Office and Hotel) 3 value-add opportunities in Los Angeles (Beverly Hills, Echo Park and Park Mile) and 1 hotel (Sacramento)
• · Development (Multifamily and Creative Office) Development opportunities in Austin, Los Angeles (Culver City, Hollywood, Echo Park, Jefferson Park) and Oakland

Lending Division Subsidiary

Originates loans through SBA 7(a) Guaranteed Loan Program

2019: CMCT sold eight buildings totaling ~2.2 million SF of traditional office space and maintained its portfolio of creative and Class A office assets.

Proceeds were used to repay debt and deliver a \$42 per share special dividend.

2022: Investment efforts focus on multifamily and creative office assets catering to high growth industries like entertainment and technology.

CMCT's development pipeline includes locations in vibrant communities and plans to develop highdemand "next generation" properties.

Remaining non-core assets expected to be recycled over time.

arting on page 30. See "Property Pictures" on page 30 under Important Disclosures. unity.com | | ©2022 CMCT | | CMCT Creative Media & Community Trust Corporation

CMCT: Investing Ahead of the Curve

Positioned to benefit from the trend toward a more cohesive work/live lifestyle

Track record of identifying and investing in vibrant and emerging communities

Resources, market knowledge and relationships for smooth execution

Development pipeline of "next generation" properties that cater to rapidly growing industries

Access to capital to execute on high growth business plan while minimizing risks for common stockholders

m | @2022 CMCT | CMCT Creative Media & Community Trust Corp

Positioned to Benefit From Changing Lifestyles1

CMCT

The pandemic accelerated the trend toward a more cohesive work/live lifestyle.

Key Office Trends

• · · Growing demand for "creative office"
• · Desire for spaces that inspire employees
• · Emphasis on comfort, cool and "wow factor"
• · Battle to recruit and retain top talent

1) Statements made on this slide are bas and beliefs.

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Positioned to Benefit From Changing Lifestyles

Creative Office Statistics1

Creative office leasing activity has reached ~96% of pre-pandemic norms.

Creative office assets command a ~43% rent premium over traditional office space.

space include technology, media, entertainment, design and fashion, in addition to more traditional business

Positioned to Benefit From Changing Lifestyles1

©2022 CMCT | CMCT Creative Media & Com

Identifying Vibrant and Emerging Sub-Markets1

CMCT

Identifying Vibrant and Emerging Sub-Markets

@sycamoredistrict

Case Study:

Sycamore Media District in Hollywood

Transformed into a flourishing, walkable urban locale

Home to leading media and entertainment companies such as SiriusXM, Roc Nation, Showtime, Ticketmaster/Live Nation, Oprah Winfrey Network, and Hyperobject Industries

"This Stylish Street in Hollywood is Becoming L.A.'s New City Center." -LAMAG

m | ©2022 CMCT | CMCT Creative Media & Comn

Core in house capabilities include acquisition, credit analysis, development,

financing, leasing, on-site property management and distribution

70% of investments sourced off-market1

Chair of CIM's Executive, Investment, Allocation and Real

Management (a full service provider of leveraged finance
solutions) and OCV Management (owner of technology
companies)

Chairman of the Board of CIM Real Estate Finance and

Previously worked at Drexel Burnham Lambert, Inc. and

began his career as an attorney with Cravath, Swaine
and Moore, LLP

CMCT Management

Shaul Kuba

CMCT Chief Investment Officer and CMCT Board Member2 CIM Group Co-founder Head of CIM's Development Team and actively involved in nead of Cliff it Development, redevelopment and
the successful development, redevelopment and
repositioning of CIM's real estate assets around the U.S.

David Thompson СМСТ СЕО

CIM Group CFO and Principal 15 years of previous experience with Hilton Hotels Corporation, most recently as Senior Vice President and Controller

Inside Board Members

Ziff Davis

Nathan DeBacker СМСТ СFO

Previously Senior Vice President and Chief Financial Officer
for Cole REITs at VEREIT

Avi Shemesh CIM Group Co-founder

Richard Ressler

CIM Group Co-founder

CMCT Chairman of the Board

Assets Management Committees • Founder of Orchard Capital Corp., OFS Capital

CMCT Board Member

Responsible for CIM's long-term relationships with strategic institutions and oversees teams essential to strategic institutions and oversees teams essential co
acquisitions, portfolio management and internal and
external communication

ff-market percentage based on invested equity across all ClM investments.
he appointment of Mr. Kuba as the Chief Investment Officer of CMCT is expected to be finalized in 20

Note: All pages of the presentation must be viewed in conjunction with the Important Disclosures station ting on page 30. See "Property Pictures" on page 30 under Important Disclosures

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Resources, Market-Knowledge and Relationships1

CMCT

Stabilized Class A & Creative Office Portfolio1

Location	Sub-Market	Rentable Square Feet ("SE")	% Occupied	% Leased	Annualized Rent Per Occupied SF
Oakland, CA
Kaiser Plaza	Lake Merritt	537,811	86.3 %	86.3 %	4 50.71
San Francisco, CA
1130 Howard Street	South of Market	21,194	100.0 %	100.0 %	90.78
Los Angeles, CA
11620 Wilshire Boulevard	West Los Angeles	196,227	79.7 %	79.7 %	51.02
11600 Wilshire Boulevard	West Los Angeles	57,737	84.9 %	86.8 %	56.84
8944 Lindblade Street **	West Los Angeles	7,980	100.0 %	100.0 %	67.29
8960 & 8966 Washington Boulevard**	West Los Angeles	24,448	100.0 %	100.0 %	58.98
1037 North Sycamore Avenue	Hollywood	5,031	100.0 %	100.0 %	55.85
Austin, TX
3601 S Congress Avenue	South	227,853	87.6 %	96.6 %	46.74
1021 E 7th Street	East	11,180	100.0 %	100.0 %	55.72
TOTAL		1,089,461	86.2 %	88.2 %	S 51.58

Geographic Diversification

Annualized Rent by Location

1) As of 3/31/2022
**See "Development Pipeline" table on next slide.

Note: All pages of the presentation must the Important Diclosures starting on page 30. See "Property Pictures" on page 30 under Important Disclosures

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Value Add Opportunities- Primarily Multifamily & Creative Office1

Office:
Location	Sub-Market	Rentable Square Feet ("SE")	% Occupied	96 Leased	Annualized Rent Per Occupied SF	Notes
Los Angeles, CA
4750 Wilshire Boulevard	Mid-Wilshire	140,332	21.6 %	21.6 %	50.37 રે	Actively marketing vacant space and simultaneously pursuing entitlements to convert unleased space to multi- family (received design approval in February 2022)
9460 Wilshire Boulevard	Beverly Hills	97,745	67.2 %	72.6 %	106.84	Actively marketing retail suites for lease
1910 West Sunset 2	Echo Park	100,324	90.8 %	90.8 %	30.28	Renovation program includes lobby, amenity space, and open up ceilings on vacant space
TOTAL OFFICE		338,401	55.3 %	56.8 %	\$ 60.41
Hotel: Location	Sub-Market	% Occupied	RevPAR
Sacramento, CA
Sheraton Grand Hotel	Downtown/ Midtown	69.2 %	\$ 119.78
TOTAL HOTEL		69.2 %	119.78 \$
Hotel Parking / Retail:			Annualized Rent
Location	Sub-Market	% Occupied (Retail)	(Parking & Retail) (in thousands)
Sacramento, CA
Sheraton Grand Hotel Parking Garage & Retail	Downtown/ Midtown	100.0 %	ે ક 626
TOTAL HOTEL PARKING / RETAIL		100.0 %	626 ે કે

1) As of 3/31/2022
2) CMCT and ClM-manage te account purchased the property in February 2022 through a joint venture. CMCT owns approximately 44% of the property.

ewed in conjunction with the Important Disclo ures starting on page 30. See "Property Pictures" on page 30 under Important Disclosures. Note: All pages of the prese nity.com | ©2022 CMCT | CMCT Creative Media & Community Trust Corporation 15

Development Pipeline- Multifamily & Creative Office¹

Location	Sub-Market	Notes
1021 E 7th Street	East Austin	Creative Office
1910 West Sunset Boulevard4	Echo Park, Los Angeles	Multifamily
8944 Lindblade Street, 8960 & 8966 Washington Boulevard3	West Los Angeles	Creative Office
3101 S. Western Avenue 4,5	Jefferson Park, Los Angeles	Multifamily
3022 S. Western Avenue36	Jefferson Park, Los Angeles	Multifamily
2 Kaiser Plaza	Oakland	Office or multifamily

1) As of 3312022
20 KM Thin Thirman Prope ty in February 2022 through a joint venture. CMCT owns aproximately 44% of the propery.
3) Cremo the bullings (2,223 sin ages both

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Overview

• » CMCT and a CIM-managed separate account acquired 1910 W. Sunset Blvd for approximately \$51 million in February 2022 (CMCT owns ~44%)
• » Approximately 100,000 SF creative office building and a plan to develop approximately 50-unit residential units by-right
• » The 8-story building with floor-to-ceiling windows is the tallest in Echo Park, providing spectacular views in all directions

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• » Ability to create 13-foot ceiling heights on newly renovated space
• » Intend to renovate lobby and potentially add new rooftop amenity
• » Ideal location and product for entertainment, and fashion tenants

1) Source Costar; based on East Hollywood/Silver Lake submarket. Accessed May 2022.

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A Dynamic Emerging Submarket

• Echo Park is an emerging trendy submarket northwest of downtown LA; walkable area with dozens of dining and entertainment options
• · Located ~1 mile from Dodgers Stadium and adjacent to newly renovated Echo Park Lake, which features walking paths, picnic areas, paddle boats and lotus flower gardens
• Easy access to four major freeways (Hollywood, Pasadena, Glendale and Golden State Freeways); approximate 20 minute drive to Hollywood, Downtown LA, Pasadena and Burbank
• Average 10-year annual office rent growth of 5.0%
• Average 10-year office vacancy of 6.7%¹

• » Prominent location in Los Angeles in the prestigious Golden Triangle of Beverly Hills
• » Adjacent to the Four Seasons Beverly Wilshire Hotel and Rodeo Drive
• » ~18,000 SF of retail space expired in 2020 and 2021; active efforts to re-lease at premium price levels

4750 Wilshire Boulevard (Park Mile)

• » Pursuing permits to convert unleased space to multifamily (received design review approval in February 2022)
• » Centrally located in Park Mile/Hancock Park
• » Short drive time to Hollywood/West Hollywood (10 minutes), Beverly Hills/Culver City/Downtown LA (20 minutes) and Santa Monica (30 minutes)

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Artistic renderings are for illustrative purposes only

Culver City: Potential Creative Office Development

A Dynamic Thriving Submarket

• Well-located asset in the heart of Culver City
• Home to several high-profile media and technology companies including Apple, Amazon, HBO and Sony
• · Adjacent to the Metro Expo Line, offering easy access to both the Westside and Downtown LA
• · Office Rent growth 16% CAGR over the last decade1

Overview

• » In 2014, CMCT acquired Lindblade Media Center for \$18.5 million
• » Campus consists of:
• ~24,448 sf of creative office space at 8960 & 8666 Washington Boulevard
• ~7,980 sf at 8944 Lindblade Street currently used for broadcasting
• » Potential to redevelop into creative office
• 1) Source JLL offering memorandum, August 2021.

| ©2022 CMCT | | CMCT Creative Media & Community Trust Corporation

Jefferson Park: Multifamily Development

• Adjacent to West Adams neighborhood where CIM has renovated and developed dozens of apartments, restaurants and retail spaces since 2016

An Emerging Submarket

• Convenient access to the 10 and 110 freeways
• · 1.5 miles from the University of Southern California and 5.5 miles from downtown Culver City, home to several premier technology and entertainment companies

Overview

• » In 1Q'22, CMCT acquired 3101 S. Western, which is located on a ~11,300 sf land site for \$2.3 million
• » CMCT intends to entitle the property and develop approximately 45 residential units
• » Construction anticipated to begin in mid 2023
• » CMCT intends to acquire 3022 S Western and develop 114 residential units beginning in 2024

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Capital Structure Designed To Enhance Returns and Mitigate Risk

Preferred Stock Program

» Access to continuously offered preferred stock allows CMCT to enhance returns by executing on high return business plans while minimizing risks for common stockholders

Series A and L

• » Perpetual Preferred Stock
  • (Series A and L: 5.5% coupon)
• » Series A is continuously offered bi-monthly issuance
• » CMCT and investor option to call/redeem five years from issuance at stated value, plus accrued and unpaid dividends1
• » Redemption payable in cash or CMCT common stock, at election of CMCT2

1) Wesses and Since Premis and on the processor in Revers and Personale de are are are are are are are are are are are are are are are are are are mercer en maner meller mere Note: All pages of the presentation must be viewed in conjunt Disclosures starting on page 30.5se "Property Pictures" on page 30 under important Disclosures

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Appendix

Note: All pages of the p ust be viewed in conjunction with the Important Disclosures starting or ge 30. See "Property Pictures" on page 30 under Important Disclosures nediacommunity.com | ©2022 CMCT | CMCT Creative Media & Community Trust Corporation

CIM Group: Commitment to ESG

CIM is committed to incorporating Environmental, Social and Governance (ESG) criteria into its business strategies and day-today operations while supporting its tenants, employees and communities in these initiatives.1

Sustainable & Environmental Initiatives

• » For more than 25 years, CIM has developed and operated sustainable infrastructure needed to support growing communities. Key projects include renewable energy, water storage and wasteto-value initiatives.
• » CIM is a member of the Principles for Responsible Investment (PRI), a GRESB assessment participant and a partner in the EPA's Energy Star® program, with several LEED certified buildings. Additionally, CIM uses Energy Star® consumption tracking at more than 100 properties.
• » CIM's water storage solution improves water supply sustainability, while its waste-to-value solution produces an alternative to petroleum-based products, cuts carbon emission and frees up landfills.

ESG Committee

» Comprised of leaders from across the organization, CIM's ESG committee supports and elevates CIM's sustainability efforts. The committee authored CIM's formal ESG policy, which details the organization's continued commitment to incorporate ESG best practices into each new project and ongoing.

CIMpact

te: All pages of the presentation must be viewed in conjunt Disclosures statting on page 30. See "Property Pictures" on page 30 under Important Disclosure

• » CIMpact coordinates grassroots initiatives and partners with regional and national non-profit organizations to further CIM's positive impact in communities.
• » Through ClMpact, we support and encourage corporate and employee-led voluntary community service activities on both local and national levels.

Diversity, Equity & Inclusion Council

» Through employee education and reporting, as well as community outreach, the Diversity & Inclusion Council plays a crucial role in CIM's effort to encourage employees to honor and celebrate diversity in relationships with each other and all those we serve.

1) While Climan (sider ES Gactors when national the End does not pursue an ES-based investment stratery of minit to restrent to those hat meet specific ES criteria

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CMCT

CIM Group Commitment to CMCT

CIM Group owns ~41.3% of CMCT common stock

Management and Corporate Governance

CMCT's Board includes CIM Group's three co-founders (Richard Ressler, Avi Shemesh, and Shaul Kuba)

Strong Market Knowledge and Sourcing

CMCT benefits from CIM Group's identification of Qualified Communities, sourcing capabilities and access to resources of vertically integrated platform

Management Agreement/Master Services Agreement Fees

» 1% of net asset value

» Reimbursement of shared services

CMCT

• » Income incentive fee is 20% of CMCT's quarterly core funds from operations in excess of a quarterly threshold equal to 1.75% (i.e., 7% on an annualized basis) of CMCT's average adjusted common stockholders' equity, subject to catchup2
• » 15% of cumulative aggregate realized capital gains net of aggregate realized capital losses minus (ii) the aggregate capital gains fees paid in prior periods. Realized capital gains and realized capital losses are calculated by subtracting from the sales price of a property (a) any costs and expenses incurred to sell such property and (b) the property's original acquisition price plus any subsequent, non-reimbursed capital improvements thereon paid for by СМСТ.
• at cost (accounting, tax, reporting,
• etc.)
• » Perpetual term

1) includes of the of the stoles of the child. As of Mark 31, 2022. 2010 incentive for FFS \$1, if 0 09% fr in y eccess or FFO styl, if 0 on any ecess one FFO sty (in 1 any ec

Note: All pages of the presentation must be important Disclosures starting on page 30. See "Property Pictures" on page 30 under important Disclosures.
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CMCT Creative Office Case Study: Penn Field (Austin)

Overview

• · CMCT acquired Penn Field (3601 S. Congress Ave) in 2007 in an off-market transaction
• The creative office campus attracts a diverse tenant mix including technology, media and entertainment companies
• · In-place rents have increased more than threefold since the acquisition and in-place rents remain below market (\$44.13 versus market rents of \$51.67)1
• · CMCT reached leased percentage of 97% as of March 31, 2022
• · In 2020, CMCT completed a \$15 million, ~44,000 SF office building on the campus. CMCT fully leased the new building to a F45 Fitness for its new corporate headquarters through 2029 with an expected return on cost at stabilization of 11% and annual FFO/share contribution of \$0.03

1) Source: CBRE 4Q'21 Austin Office report. 2) Source: CoStar May 2022 Office Market Report. Note: All pages of the presentation must be viewed in conjunction with the Important Disclosures starting on page 30 under In

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A Compelling Growth Market 2

• · No state income tax and diverse employment sources – government, education and tech
• · Home to many large U.S. corporations including Amazon, Facebook, Apple, Cisco, eBay, GM, Google, IBM, Intel, Oracle, Paypal, 3M and Whole Foods
• Rapid market office rent growth (10 year CAGR of 5.6%)
• ・ Population growth Five year forecast growth
  rate of 2.0% (versus 0.5% in the U.S.)
• Employment growth Ten year historical growth rate of 3.93% (versus 1.22% in the U.S.)

Key Metrics

CMCT

Top Five Tenants (March 31, 2022)

Tenant	Property	Lease Expiration		Annualized Rent (in thousands)	% of Annualized Rent	Rentable Square Feet	% of Rentable Square Feet
Kaiser Foundation Health Plan, Inc.	Kaiser Plaza	2025-2027 1	5	17,575	29.4 %	366,777	25.7 %
MUFG Union Bank, N.A.	9460 Wilshire Boulevard	2029		3.809	6.4 %	27,569	1.9 %
F45 Training Holdings, Inc.	3601 S Congress Avenue	2030		2,427	4.1 %	44,171	3.1 %
3 Arts Entertainment, Inc.	9460 Wilshire Boulevard	2026		2.360	4.0 %	27,112	1.9 %
Westwood One, Inc.	Lindblade Media Center	2025		1,979	3.3 %	32,428	2.3 %
Total for Top Five Tenants				28,150	47.2 %	498.057	34.9 %
All Other Tenants				31,590	52.8 %	628,009	44.0 %
Vacant					96 l	301.796	21.1 %
Total Office				59.740	100.0 %	1,427,862	100.0 %

Lease Expirations as a % of Annualized Office Rent (As of March 31, 2022)

1) receiver 2,2021, tecnar november de segment en 1000 mille comber les be cernet com be miles miles miles miles miles miles miles maries maries maries maries marker op artea

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Key Metrics - Adjusted Funds From Operations (AFFO)

Three Months Ended								Year Ended		Three Months Ended
(Unaudited and in thousands)	March 31, 2021		June 30, 2021		September 30, 2021		December 31, 2021		December 31, 2021	March 31, 2022
Net income attributable to common stockholders	\$	(8,206)	ಕ್ಕೆ	(4,210)	ಳಿ	(3,216)	র্ক	(4,347)	\$ (19,979)	ਫੈ	(2,811)
Depreciation and amortization		5,037		5,069		5,061		4,945	20,112		5,004
FFO attributable to common stockholders	\$	(3,169)	ਨੇ	859	న్	1,845	রী	598	\$ 133	ર્	2,193
Straight-line rent and straight-line lease termination fees		(253)		(556)		345		14	(450)		165
Amortization of lease inducements		92		90		131		101	414		ਰੇਰੇ
Amortization of above and below market leases		(112)		(81)		(76)		(୧୨)	(338)		(72)
Amortization of premiums and discounts on debt		2		13		(24)		(52)	(61)		(3)
Amortization and accretion on loans receivable, net		(129)		(150)		(147)		(196)	(622)		(150)
Amortization of deferred debt origination costs		324		311		156		277	1,068		297
Unrealized premium adjustment		467		990		774		ਦਰੇਰੇ	2,930		573
Deferred income taxes		(72)		59		123		(38)	72		56
Non-cash compensation		60		50		55		55	220		ട് ട
Redeemable preferred stock redemptions		13		13		27		60	113		75
Redeemable preferred stock dividends		57		106		90			253		15
Transaction costs								143	143
Recurring capital expenditures, tenant improvements, and leasing commissions		(391)		(349)		(747)		(1,573)	(3,060)		(714)
AFFO attributable to common stockholders		(3,111)		1,355	S	2,552	A	19	815 4		2,589

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Capital Structure Designed to Enhance Returns and Mitigate Risk

CMCT

			Debt & Preferred Summary (March 31, 2022)
--	--	--	-------------------------------------------	--

Mortgage Payable	Interest structure (fixed/variable etc.)	Interest Rate	Maturity/ Expiration Date		Loan balance (in millions)
1 Kaiser Plaza	Fixed	4.14%	7/1/2026	\$	97.1
Total Mortgage Payable Other Debt		4.14%		S	97.1
SBA 7(a) Loan-Backed Notes	Variable	LIBOR + 1.40%	3/20/2043	44	6.2
Borrowed Funds from the Federal Reserve through the PPPIF3	Fixed	0.35%	Various		3.7
Total Other Debt				S	9.8
Corporate Debt
2018 Revolving Credit Facility *	Variable	LIBOR + 1.55%	10/31/2022	\$	90.0
2020 Unsecured Revolving Credit Facility 3	Fixed	1.00%	5/1/2022
Junior Subordinated Notes	Variable	LIBOR + 3.25%	3/30/2035	69	27.1
Total Corporate Debt				\$	117.1
Total Debt				S	224.0

Fixed Debt vs. Floating Debt (March 31, 2022)

55%

Excluding SBA 7(a) Loan Backed Notes

See "Important Information - Debt and Preferred Summary" on slide 29.

Preferred Stock

Total Preferred Stock

Total Debt + Preferred Stock

Series A

Series D

Series L

Interest structure

Fixed

Fixed

Fixed

(fixed/variable etc.) Coupon

5.50%

5.65%

5.50%

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46

S

Outstanding
(in millions)

206.1

360.4

584.4

1.4 152.8 °

7

Maturity/
Expiration

N/A

N/A

N/A

Important Information - Debt and Preferred Summary CMCT

• 1 -Excludes: (a) \$6.3 million of secured borrowings - government guaranteed loans, which represent sold loans that are treated as secured borrowing because the loan sales did not meet the derecognition criteria provided for in ASC 860-30, Secured Borrowing and Collateral, and (b) premiums, discounts and debt issuance costs.
• In May 2018, we completed a securitization of the unguaranteed portion of 2. certain of our SBA 7(a) loans receivable with the issuance of \$38.2 million of unguaranteed SBA 7(a) loan-backed notes. The SBA 7(a) loan-backed notes are collateralized by the right to receive payments and other recoveries attributable to the unguaranteed portions of certain of our SBA 7(a) loans receivable. The
  notes mature on March 20, 2043, with monthly payments due as payments on the collateralized loans are received. Based on the anticipated repayments of our collateralized SBA 7(a) loans, at issuance, we estimated the weighted average life of the notes to be approximately two years.
• In June 2020, CMCT borrowed funds from the Federal Reserve through the 3. Paycheck Protection Program Liquidity Facility (the "PPPLF"). Advances under the
  PPPLF carry an interest rate of 0.35%, are made on a dollar-for-dollar basis based on the amount of loans originated under the Paycheck Protection Program and are secured by loans made by CMCT under the Paycheck Protection Program. The
  maturity date of PPPLF borrowings is the same as the maturity date of the loans pledged to secure the extension of credit, generally two or five years. At maturity both principal and accrued interest are due
• In October 2018, CMCT entered into a secured revolving credit facility with a bank syndicate that, as amended, allows CMCT to borrow up to \$209.5 million, subject to a borrowing base calculation (the "2018 revolving credit facility"). In September 2020, the 2018 revolving credit facility was amended (the "2018 Credit Facility Modification") to remedy the effect that COVID-19 had on CMCT's ability to borrow under the 2019 revolving credit facility during the period from September 2, 2020
  through June 30, 2021 (the "Deferral Period"). The 2018 revolving credit facility bore interest during the Deferral Period at (A) the base rate plus 1.05% or (B) LIBOR plus 2.05% and (ii) after the Deferral Period, at (A) the base rate plus 0.55% or (B) LIBOR plus 1.55%. The 2018 revolving credit facility is also subject to an unused commitment fee of 0.15% or 0.25% depending on the amount of
  aggregate unused commitments. The 2018 revolving credit facility is secured by deeds of trust on certain of our properties.

The 2018 revolving credit facility matures in October 2022 and provides for on one-year extension option under certain conditions. As of March 31, 2022, \$106.2 million was available for future borrowings.

• 5 In May 2020, CMCT entered into an unsecured revolving credit facility with a bank (the "2020 unsecured revolving credit facility") pursuant to which CMCT can
  borrow up to a maximum of \$10,000,000. Outstanding advances under the 2020 unsecured revolving credit facility bear interest at the rate of 1.00%. CMCT also pays a revolving credit facility fee of 1.12% with each advance under the 2020 unsecured revolving credit facility, which fee is subject to a cap of \$112,000 in the aggregate. The 2020 unsecured revolving credit facility contains certain customary covenants including a maximum leverage ratio and a minimum fixed charge coverage ratio, as well as certain other conditions. The 2020 unsecured revolving credit facility matured on May 1, 2022.
• Outstanding Series A Preferred Stock represents total shares issued as of March 6 31, 2022 of 8,518,202, less redemptions of 272,636 shares, multiplied by the stated value of \$25.00 per share. Includes shares issued to CIM Group in lieu of cash payment of the asset management fee. Gross proceeds are not net of commissions, fees, allocated costs or discount
• Outstanding Series D Preferred Stock represents total shares issued as of March 7. 31, 2022 of 56,857 multiplied by the stated value of \$25.00 per share. Gross
  proceeds are not net of commissions, fees, allocated costs or discount.
• Outstanding Series L Preferred Stock represents total shares outstanding as of 000 March 31, 2022 of 5,387,160, multiplied by the stated value of \$28.37 per share. Gross proceeds are not net of commissions, fees, allocated costs or discount.

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Annualized rent represents gross monthly base rent, or gross monthly contractual rent under parking and retail leases, multiplied by 12. This amount reflects total cash rent before abatements. Where applicable,
annualized rent has been grossed up by adding annualized expense reimbursements to base rent. Annualized rent for certain office properties includes rent attributable to retail.

Assets Owned and Operated (AOO) represents the aggregate assets
owned and operated by CIM on behalf of partners (including where CIM contributes alongside for its own account) and co-investors, whether or not CIM has discretion, in each case without duplication.

Investment-Level Returns represent the performance of an investment based on the equity contributed to the investment and distributed from the investment, provided that generally, (a) distributions resulting from debt proceeds or third party capital used to replace equity contributions are applied as a reduction in contributions and, accordingly, are not treated as
distributions; (b) any entity-level debt is allocated to the investments and assumed to be investment-level debt, the significant effects of which are as follows: (i) equity contributed is reduced by the amount of assumed debt and (ii) equity distributed is reduced by the amount of repayments on such debt; (c) temporary (working capital) contributions may be treated as a reduction of total contributions in the period the capital is returned to the fund and (d) certain amounts re-contributed to an investment are deemed to be reductions in prior distributions rather than additional contributions; the effects of (a) - (d) are to reduce the amount of distributions and contributions. Deposits and other pre-closing cash outflows are generally assumed to be contributed to the investment at closing. Returns are calculated after taking into account investment-level costs, but before taking into account entity-level costs and expenses, organizational expenses, management fees and taxes, the effect of which is expected to be material.

DISCLAIMERS. The results that an investor will realize will depend, to a significant degree, on the assets actually purchased by CMCT from time to time and the actual performance of such assets, which may be impacted by economic and market factors, including COVID-19. The actual performance of CMCT will be subject to a variety of risks and uncertainties, including those on slide 2. In no circumstance should the hypothetical returns be regarded as a representation, warranty or prediction that a specific investment or group of investments will reflect any particular performance or that it will achieve or is likely to achieve any particular result or that investors will be able to avoid losses, including total loss of their investments. Inherent in any investment is the potential for loss. There can be no assurance that CMCT will achieve comparable results, that the returns sought will be achieved or that CMCT will be able to execute its proposed strategy. Actual realized returns on investments may differ materially from any return indicated herein.

Property Pictures. The property/properties shown may not be representative of all transactions of a given type or of investments generally, may represent an investment/investments that performed better than other investments made by CIM-funds, is not necessarily indicative of the performance of all such investments by CIM-funds and is intended solely to be illustrative of the types of investments that may be made by CMCT. There can be no assurance similar investment opportunities will be available to CMCT or that CMCT will generate similar returns.

Logos. CIM Group is not affiliated with, associated with, or a sponsor of any of the tenants pictured or mentioned. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies.

COUNTY CONNECT CONNECT CONNECT CONTROLLER CONSULTION CONSULTION CONSULTION CONSULTION CONSULTION CONSULTION CONSULTION CONSULTION CONSULTION CONSULTION CONSULTION CONSULTION note All pages of the presentation mist be reveally of the important Uscosifes staring on page 30 inter inportant Uscosores.
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Important Disclosures

CMCT

Capital Returned to Shareholders The amounts of regular and special cash dividends per share are based on the number of shares outstanding as of the applicable record dates. All amounts have been adjusted to give retroactive effect to the reverse stock split that occurred in 2019. Past performance is not indicative of future results. CMCT is the product of a merger (the "Merger") between a subsidiary of CIM Urban REIT, LLC ("CIM REIT"), a fund operated by CIM Group, and PMC Commercial Trust ("PMC"), a
publicly traded mortgage real estate investment trust, consummated in Q1 2014. Represents dividends paid on our common stock from lanuary 1. 2014 through September 30, 2020. Excludes a special dividend paid to PMC Commercial Trust's stockholders in connection with the Merger, but includes 2014 dividends received by CIM REIT stockholders prior to the Merger and dividends on convertible preferred stock received by Urban Partners II, LLC, an affiliate of CIM REIT and CIM Group, on an as converted basis, in the Merger. The per share equivalent in proceeds from CMCT's June 2016 tender offer is \$6.45, calculated by dividing \$210,000,000, the amount used by CMCT to purchase shares of common stock of CMCT in the tender offer, by 32,558,732, the number of shares of common stock outstanding immediately prior to such tender offer, as adjusted to give retroactive effect to the reverse stock split that occurred in 2019.

Funds From Operations (FFO) The Company believes that funds from operations ("FFO"), a non-GAAP measure, is a widely recognized and
appropriate measure of the performance of a REIT and that it is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results. FFO represents net income (loss) attributable to common stockholders, computed in accordance with GAAP, which reflects the deduction of redeemable preferred stock dividends accumulated, excluding gains (or losses) from sales of real estate, impairment of real estate, and real estate depreciation and amortization. The Company calculates FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (the "NAREIT").

Like any metric, FFO should not be used as the only measure of our performance because it excludes depreciation and amortization and captures neither the changes in the value of our real estate properties that

result from use or market conditions nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of our properties, all of which have real economic effect and could materially impact our operating results. Other REITs may not calculate FFO in accordance with the standards established by the NAREIT: accordingly our FFO may not be comparable to the FFOs of other REITs. Therefore, FFO should be considered only as a supplement to net income (loss) as a measure of our performance and should not be used as a supplement to or substitute measure for cash flows from operating activities computed in accordance with GAAP. FFO should not be used as a measure of our liquidity, nor is it indicative of funds available to fund CMCT's cash needs, including CMCT's ability to pay dividends.

Adjusted Funds From Operations (AFFO) AFFO is a non-GAAP, nonstandardized measure which is widely reported by REITs. Other REITs may
use different methodologies for calculating AFFO and, as a result, CMCTs
AFFO may not be comparable to AFFO by (a) eliminating the impact on FFO of (i) straight-line rent revenue
and expense; (ii) amortization of lease inducements; (iii) amortization of above and below market debt, loan premiums and discounts, and deferred loan costs; (v) amortization of tax abatement; (vi) amortization of
loan receivable discount and accretion of fees on loans receivable; (vi)
unrealized p non-cash compensation expense; (x) loss on early extinguishment of debt;
(xi) redeemable preferred stock redemptions; and (xii) redeemable
preferred stock payments and (ii) recurring capital expenditures and recurring tenant
improvements and leasing commissions.

AFFO is not intended to represent cash flow but may provide additional perspective on CMCT's operating results and our ability to fund cash needs
and pay dividends. AFFO should only be considered as a supplement to net income.

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