Rithm Property Trust Inc. — Director's Dealing 2021

May 11, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Great Ajax Corp. (AJX)
CIK: 0001614806
Period of Report: 2021-05-10

Reporting Person: Ogren John Kirk JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-10	Common Stock, par value $0.01 per share	A	4000	$12.60	Acquired	47245.4812	Direct
2021-05-10	Common Stock, par value $0.01 per share	A	789	$12.67	Acquired	48034.4812	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $0.01 per share	106.029	Indirect
Common Stock, par value $0.01 per share	106.029	Indirect
Common Stock, par value $0.01 per share	106.029	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
7.25% Convertible Notes due 2024	$14.47	2024-04-30	Common Stock, par value $0.01 per share (2591.85)	1500	Direct

Footnotes

F1: Granted pursuant to the 2014 Director Equity Plan; 2,000 shares vest immediately and the remaining 2,000 shares are subject to a one-year vesting period.

F2: Includes 554.250 shares acquired on March 31, 2021 under the Issuer's Dividend Reinvestment Plan.

F3: Payment of director fees for first quarter ended March 31, 2021. Price per share is the average closing price per share for the first five days preceding the dividend record date of March 18, 2021.

F4: Includes 1.587 shares acquired on March 31, 2021 under the Issuer's Dividend Reinvestment Plan.

F5: The conversion rate of the 7.25% convertible notes due 2024 (the "Notes") equals 1.7279 shares of the Issuer's common stock per $25.00 principal amount of the Notes (equivalent to a conversion price of approximately $14.47 per share of the Issuer's common stock). The conversion rate, and thus the conversion price, will be subject to adjustment in accordance with the terms of the Notes.

F6: Calculated based on the conversion rate of 1.7279 shares of the Issuer's common stock per $25.00 principal amount of Notes.