KAVANAUGH FRANK → Medalist Diversified REIT, Inc. MDRR

The information set forth in Items 3, 5 and 6 hereof are hereby incorporated by reference into this Item 4, as applicable. In addition, Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following disclosure to Item 4: On August 29, 2025, the Reporting Person entered into (i) that certain stock purchase agreement with Marc Carlson, pursuant to which, among other things, the Reporting Person agreed to purchase, and Marc Carlson agreed to sell, 80,000 shares of Common Stock for an aggregate purchase price of $1,000,000 (the "Carlson Stock Purchase Agreement"), and (ii) that certain stock purchase agreement with the Kramerica Trust, Dated July 24, 2015 (the "Kramerica Trust"), pursuant to which, among other things, the Reporting Person agreed to purchase, and Marc Carlson agreed to sell, 60,000 shares of Common Stock for an aggregate purchase price of $750,000 (the "Kramerica Trust Stock Purchase Agreement" and together with the Carlson Stock Purchase Agreement, the "Stock Purchase Agreements").