West Palm Beach, Florida, October 23rd ( GLOBE NEWSWIRE ) – Sunrise Realty Trust, Inc. (Nasdaq ticker: SUNS, hereinafter referred to as “SUNS” or “the Company”) announced that, as a lending institution on the Tannenbaum Capital Group (“TCG”) real estate platform, the company's shareholders have approved at a special general meeting of shareholders held earlier today the issuance of approximately 8,464,955 shares of SUNS common stock in the previously announced merger transaction with Southern Realty Trust Inc (“SRT”) (the “Merger”). The exact number is subject to certain adjustments.

At this special general meeting of shareholders, approximately 59.5% of the SUNS outstanding common shares participated in the voting via online or proxy voting, with about 91.6% of the votes in favor of the proposal. The SRT shareholders also approved this merger at a special general meeting held earlier today. These approvals are regarded as an important milestone in the merger of SUNS and SRT to form a larger, more efficient commercial real estate lending platform listed on NASDAQ.

Executive Chairman Leonard M and Tannenbaum stated: "We are grateful to our shareholders for their support of this strategic combination. We believe that this merger will create a larger and more efficient lending platform, enhancing economies of scale and improving financing channels, enabling us to continue to generate attractive risk-adjusted returns and create long-term value for our shareholders. We look forward to completing the merger and welcome shareholders of SRT to join SUNS."

The final voting results will be disclosed through the current 8-K report submitted to the U.S. Securities and Exchange Commission (SEC).

In accordance with the 'Merger Agreement and Plan' related to this merger, the board of directors of SUNS has announced a cash dividend of $0.09 per share ('Stub Period Dividend'), applicable for the period from the fourth quarter until the day before the completion of the merger. This dividend will be paid on November 5, 2026, to shareholders registered as of November 2, 2026.

The company expects the merger to be completed on November 5, 2026, provided that all other customary closing conditions are met. Upon completion of the transaction, SRT will be incorporated into a wholly-owned subsidiary of SUNS. The ordinary shares of SUNS will continue to trade on NASDAQ, with the same ticker symbol “SUNS”.

Regarding Sunrise Realty Trust, Inc.

Sunrise Realty Trust, Inc. (Nasdaq ticker: SUNS, hereinafter referred to as “SUNS” or “the Company”) is an institutional commercial real estate (~CRE) lending institution that provides flexible financing solutions to sponsors of commercial real estate projects primarily located in the southern United States. The Company focuses on transitional (~CRE) business plans with short-term value creation potential, and the related collateral mainly consists of premier assets located in mature and rapidly expanding southern markets. For more information, please visit www.sunriserealtytrust.com.

About TCG Real Estate

TCG Real Estate refers to a group of related entities that focus on commercial real estate debt, including a mortgage real estate investment trust listed on NASDAQ (REIT), Sunrise Realty Trust, Inc (NASDAQ ticker: SUNS), as well as a private mortgage REIT Southern Realty Trust Inc. These entities provide flexible financing for transitional commercial real estate properties that offer short-term value creation opportunities, with a focus on high-quality commercial real estate assets located primarily in the southern United States, which are driven by economic trends and have growth potential. For more information, please visit www.theTCG.com.

Forward-looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, including statements regarding the expected completion time of the merger, the expected benefits of the merger, and payments related to Stub Period Dividend. Words such as "believes," "expects," "will," "intends," "plans," "estimates," "predicts," "may," "anticipates," "future," and similar phrases are used to identify these forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and do not constitute guarantees of future performance, conditions, or results. Various factors could lead to significant differences between actual results and performance and those anticipated in these forward-looking statements, including the merger not being completed according to the expected terms or schedule, or not being completed at all; failure to meet the remaining conditions for the merger; occurrence of any events, changes, or other circumstances that could result in the termination of the Merger Agreement; failure to achieve the expected benefits of the merger; the business of SUNS and SRT not integrating successfully, or integration being more difficult, time-consuming, or costly than anticipated; the impact of the pending or completed merger on the business relationships and operating results of both parties; risks of shareholder litigation related to the merger; risks of management's attention being diverted from daily operations; the impact of the completion of the merger on the market price of SUNS's common stock; and other factors mentioned in the documents submitted by SUNS to SEC, including the "Risk Factors" and "Management's Discussion and Analysis of Financial Conditions and Operating Results" sections in its 10-K annual report filed on March 12, 2026, and subsequent 10-Q quarterly reports. New risks and uncertainties may arise over time, and it is impossible to predict these events and their impact on SUNS or SRT.Except as required by law, the company assumes no obligation to publicly update or revise any forward-looking statements due to new information, future events, or other reasons.

Investor Relations Contact Person

Robyn Tannenbaum // Will Rotatori

Media Contact

Jim Velgot