CREATIVE REALITIES, INC. — Director's Dealing 2026

Jan 9, 2026

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: CREATIVE REALITIES, INC. (CREX)
CIK: 0001356093
Period of Report: 2025-11-06

Reporting Person: North Run Strategic Opportunities Fund I, LP (10% Owner)
Reporting Person: North Run Strategic Opportunities Fund I GP, LLC (10% Owner)
Reporting Person: NR-SOF I (Co-Invest I), LP (10% Owner)
Reporting Person: ELLIS THOMAS B (Director, 10% Owner)
Reporting Person: HAMMER TODD B (10% Owner)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Series A Convertible Preferred Stock	$3.0000		Common Stock (10000001)		Indirect

Footnotes

F1: The reported securities consist of 25,000 shares of Series A Convertible Preferred Stock ("Preferred Stock" directly held by North Run Strategic Opportunities Fund I, LP ("NR-SOF") and 5,000 shares of Preferred Stock NR-SOF I (Co-Invest I), LP ("NR Co-Invest"), and may be deemed to be indirectly beneficially owned by North Run Strategic Opportunities Fund I GP, LLC ("NR GP") as the general partner of NR-SOF and NR Co-Invest. The reported securities may also be deemed to be indirectly beneficially owned by Thomas B. Ellis and Todd B. Hammer as members of NR GP. Each share of preferred stock has a stated value of $1,000 and a conversion price at issuance of $3.00.

F2: The Series A Convertible Preferred Stock has no expiration date and is convertible at any time at the option of the holder, subject to blocker provisions that prevents conversion into shares of Common Stock of the Issuer if the reporting person, together with its affiliates, would beneficially own more than 19.99% of the Common Stock following such conversion and that prevent conversion to the extent that all shares of Common Stock issued upon conversion of shares of Series A Convertible Preferred Stock would exceed 2,102,734.

F3: North Run Strategic Opportunities Fund I GP, LLC, North Run GP, LP, North Run Advisors, LLC, Thomas B. Ellis, Todd B. Hammer and Michael Bosco disclaim beneficial ownership of the reported securities except to the extent of their respective pecuniary interest therein, and this report shall not be deemed an admission that any of them are the beneficial owners of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.