<SEC-DOCUMENT>0001104659-25-109185.txt : 20251110
<SEC-HEADER>0001104659-25-109185.hdr.sgml : 20251110
<ACCEPTANCE-DATETIME>20251110163026
ACCESSION NUMBER:		0001104659-25-109185
CONFORMED SUBMISSION TYPE:	8-A12B
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20251110
DATE AS OF CHANGE:		20251110

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Alpine Income Property Trust, Inc.
		CENTRAL INDEX KEY:			0001786117
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-A12B
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39143
		FILM NUMBER:		251466704

	BUSINESS ADDRESS:	
		STREET 1:		369 N. NEW YORK AVE.
		STREET 2:		SUITE 201
		CITY:			WINTER PARK
		STATE:			FL
		ZIP:			32789
		BUSINESS PHONE:		407-904-3324

	MAIL ADDRESS:	
		STREET 1:		369 N. NEW YORK AVE.
		STREET 2:		SUITE 201
		CITY:			WINTER PARK
		STATE:			FL
		ZIP:			32789
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-A12B
<SEQUENCE>1
<FILENAME>tm2530776d1_8a12b.htm
<DESCRIPTION>8-A12B
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549</P>

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<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES<BR>
PURSUANT TO SECTION 12(b) OR 12(g) OF<BR>
THE SECURITIES EXCHANGE ACT OF 1934</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-size: 14pt"><B>ALPINE INCOME PROPERTY TRUST, INC.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>(Exact name of registrant as specified in its charter)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt"></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; text-align: center; font-size: 10pt"><B>Maryland</B></TD>
    <TD STYLE="width: 50%; text-align: center; font-size: 10pt"><B>84-2769895</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>(State of incorporation or organization)</B></FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>(IRS Employer Identification No.)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>369 N. New York Avenue, Suite 201</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Winter Park, Florida</B></P></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-size: 10pt"><B>32789</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>(Address of principal executive offices)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>(Zip Code)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities registered pursuant to Section 12(b)
of the Act:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 49%"><B>Title of each class to be so
    registered</B></TD>
    <TD STYLE="text-align: center; width: 2%"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 49%"><B>Name of each exchange on which<BR>
    each class is to be registered&nbsp;</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center; font-size: 10pt"><B>8.00% Series A Cumulative Redeemable<BR> Preferred Stock, $0.01 par value per share</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt"><B>New York Stock Exchange</B></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If this form relates to the registration of a class of securities pursuant
to Section 12(b) of the Exchange Act and is effective pursuant to General Instruction A.(c) or (e), please check the following box. <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If this form relates to the registration of a class of securities pursuant
to Section 12(g) of the Exchange Act and is effective pursuant to General Instruction A.(d) or (e), please check the following box. <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If this form relates to the registration of a class of securities concurrently
with a Regulation A offering, check the following box. <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Act registration statement file number
to which this form relates: File No. 333-274724 |</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities registered pursuant to Section 12(g)
of the Act: None</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 1.</TD><TD>Description of Registrant&rsquo;s Securities to be Registered.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The description of the 8.00% Series A Cumulative
Redeemable Preferred Stock, $0.01 par value per share, of Alpine Income Property Trust, Inc. (the &ldquo;Registrant&rdquo;) is set forth
under the heading &ldquo;Description of the Series A Preferred Stock&rdquo; included in the Registrant&rsquo;s Prospectus Supplement dated
November 5, 2025, as filed with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) on November 7, 2025, pursuant to
Rule 424(b) under the Securities Act of 1933, as amended, and under the heading &ldquo;Description of Capital Stock&mdash;Description
of Preferred Stock&rdquo; in the accompanying prospectus that constitutes a part of the Registrant&rsquo;s Registration Statement on Form
S-3 (File No. 333-274724), which was filed by the Registrant with the Commission on September 27, 2023, which information is incorporated
herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 2.</TD><TD>Exhibits.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 0.9in; padding-right: 0; padding-left: 0"><B>Exhibit No.
    &nbsp;</B></TD>
    <TD STYLE="padding-bottom: 1pt; width: 0.1in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0; padding-left: 0"><B>Description &nbsp;</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0; padding-bottom: 0; padding-left: 0; text-align: center; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1786117/000155837019011294/ex-3d1.htm"><FONT STYLE="font-size: 10pt">3.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0; padding-bottom: 0; padding-left: 0; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1786117/000155837019011294/ex-3d1.htm"><FONT STYLE="font-size: 10pt">Articles of Amendment and Restatement of Alpine Income Property Trust, Inc., filed as Exhibit 3.1 to the Registrant&rsquo;s current report on Form 8-K filed December 3, 2019, and incorporated herein by reference.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0; padding-bottom: 0; padding-left: 0; text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0; padding-bottom: 0; padding-left: 0; font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0; padding-bottom: 0; padding-left: 0; text-align: center; font-size: 10pt"><A HREF="tm2530776d1_ex3-2.htm"><FONT STYLE="font-size: 10pt">3.2*</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0; padding-bottom: 0; padding-left: 0; font-size: 10pt"><A HREF="tm2530776d1_ex3-2.htm"><FONT STYLE="font-size: 10pt">Articles Supplementary of 8.00% Series A Cumulative Redeemable Preferred Stock of Alpine Income Property Trust, Inc.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 0; padding-bottom: 0; padding-left: 0; text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0; padding-bottom: 0; padding-left: 0; font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 0; vertical-align: top; padding-right: 0; padding-left: 0; text-align: center; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1786117/000155837023000881/pine-20230201xex3d1.htm"><FONT STYLE="font-size: 10pt">3.3</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 0; vertical-align: bottom; padding-right: 0; padding-left: 0; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1786117/000155837023000881/pine-20230201xex3d1.htm"><FONT STYLE="font-size: 10pt">Third Amended and Restated Bylaws of Alpine Income Property Trust, Inc., effective as of February 1, 2023, filed as Exhibit 3.1 to the Registrant&rsquo;s current report on Form 8-K filed February 3, 2023, and incorporated herein by reference.</FONT></A></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">*</TD><TD>Filed herewith.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURE</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of Section 12 of
the Securities Exchange Act of 1934, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned,
thereto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 0; padding-left: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 0; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0"><FONT STYLE="font-size: 10pt">ALPINE INCOME PROPERTY TRUST, INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 0; padding-left: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 0; font: 10pt Times New Roman, Times, Serif; padding-left: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 0; text-align: left; padding-left: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 0; padding-left: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 0; font: 10pt Times New Roman, Times, Serif; padding-left: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 0; text-align: left; padding-left: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 0; width: 50%; padding-left: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%; padding-bottom: 0; padding-left: 0"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0; width: 45%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 0"><FONT STYLE="font-size: 10pt">/s/
    Philip R. Mays</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 0; padding-left: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 0; font: 10pt Times New Roman, Times, Serif; padding-left: 0"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-bottom: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0"><FONT STYLE="font-size: 10pt">Philip
    R. Mays</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 0; padding-left: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 0; font: 10pt Times New Roman, Times, Serif; padding-left: 0"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding-bottom: 0; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0"><FONT STYLE="font-size: 10pt">Senior
    Vice President, Chief Financial Officer and Treasurer</FONT></TD></TR>
  </TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">Date: November 10, 2025</P>

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<DOCUMENT>
<TYPE>EX-3.2
<SEQUENCE>2
<FILENAME>tm2530776d1_ex3-2.htm
<DESCRIPTION>EXHIBIT 3.2
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 3.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ALPINE INCOME PROPERTY TRUST, INC.<BR>
<BR>
ARTICLES SUPPLEMENTARY</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">8.00% SERIES A CUMULATIVE REDEEMABLE PREFERRED
STOCK</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">ALPINE INCOME PROPERTY TRUST, INC., a Maryland
corporation (the &ldquo;<U>Corporation</U>&rdquo;), hereby certifies to the State Department of Assessments and Taxation of Maryland (the
&ldquo;<U>Department</U>&rdquo;) that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>FIRST</B>: Under a power contained in Article
VI of the Articles of Amendment and Restatement of the Corporation filed with the Department on November 21, 2019 (as may be amended and
supplemented from time to time, the &ldquo;<U>Charter</U>&rdquo;), the Board of Directors of the Corporation (the &ldquo;<U>Board of Directors</U>&rdquo;),
by duly adopted resolutions, classified and designated 2,300,000 shares of authorized but unissued preferred stock, par value $0.01 per
share (the &ldquo;<U>Preferred Stock</U>&rdquo;), as shares of 8.00% Series A Cumulative Redeemable Preferred Stock, with the following
preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications,
and terms and conditions of redemption, which, upon any restatement of the Charter, shall become part of the Charter, with any necessary
or appropriate re-numbering or re-lettering of the sections or subsections of these Articles Supplementary:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Designation and Number</U>. A series of Preferred Stock, designated the &ldquo;8.00% Series A Cumulative Redeemable Preferred
Stock&rdquo; (the &ldquo;<U>Series A Preferred Stock</U>&rdquo;), is hereby established. The initial number of authorized shares of Series
A Preferred Stock shall be 2,300,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>Rank</U>. The Series A Preferred Stock will, with respect to distribution rights and rights upon voluntary or involuntary
liquidation, dissolution or winding up of the Corporation, rank: (a) senior to all classes or series of the Corporation&rsquo;s common
stock, par value $0.01 per share (the &ldquo;<U>Common Stock</U>&rdquo;), and all classes or series of capital stock of the Corporation
now or hereafter authorized, issued or outstanding expressly designated as ranking junior to the Series A Preferred Stock as to distribution
rights and rights upon voluntary or involuntary liquidation, dissolution or winding up of the Corporation; (b) on parity with any class
or series of capital stock of the Corporation expressly designated as ranking on parity with the Series A Preferred Stock as to distribution
rights and rights upon voluntary or involuntary liquidation, dissolution or winding up of the Corporation; and (c) junior to any class
or series of capital stock of the Corporation expressly designated as ranking senior to the Series A Preferred Stock as to distribution
rights and rights upon voluntary or involuntary liquidation, dissolution or winding up of the Corporation. The term &ldquo;capital stock&rdquo;
does not include convertible or exchangeable debt securities, which will rank senior to the Series A Preferred Stock prior to conversion
or exchange. The Series A Preferred Stock will also rank junior in right of payment to the Corporation&rsquo;s existing and future debt
obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>Dividends</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT>Subject to the preferential rights of the holders of any class or series of capital stock of the Corporation ranking senior
to the Series A Preferred Stock as to distributions, the holders of shares of the Series A Preferred Stock shall be entitled to receive,
when, as and if authorized by the Board of Directors and declared by the Corporation, out of funds legally available for the payment of
dividends, cumulative cash dividends at the rate of 8.00% per annum of the $25.00 liquidation preference per share of the Series A Preferred
Stock (equivalent to a fixed annual amount of $2.00 per share of the Series A Preferred Stock). Such dividends shall accrue and be cumulative
from, and including, the first date on which any shares of Series A Preferred Stock are issued (the &ldquo;<U>Original Issue Date</U>&rdquo;)
and shall be payable quarterly in arrears on each Dividend Payment Date (as defined below), commencing on December 31, 2025 or, with respect
to any shares of Series A Preferred Stock issued after December&nbsp;31, 2025, shall be cumulative from the most recent Dividend Payment
Date to which dividends have been paid in full (or declared and the record date for determining stockholders entitled to payment thereof
has passed); <I>provided</I>, <I>however</I>, that if any Dividend Payment Date is not a Business Day (as defined below), then the dividend
which would otherwise have been payable on such Dividend Payment Date may be paid, at the Corporation&rsquo;s option, on either the immediately
preceding Business Day or the next succeeding Business Day, except that, if such Business Day is in the next succeeding calendar year,
such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if paid on such Dividend
Payment Date, and no interest or additional dividends or other sums shall accrue on the amount so payable from such Dividend Payment Date
to such next succeeding Business Day. The amount of any dividend payable on the Series A Preferred Stock for any period greater or lesser
than a full Dividend Period (as defined below) shall be prorated and computed on the basis of a 360-day year consisting of twelve 30-day
months. Dividends will be payable to holders of record as they appear in the stockholder records of the Corporation at the close of business
on the applicable Dividend Record Date (as defined below). Notwithstanding any provision to the contrary contained in these Articles Supplementary,
each share of Series A Preferred Stock outstanding on any Dividend Record Date for the determination of holders of Series A Preferred
Stock shall be entitled to receive any dividend with respect to such Dividend Record Date equal to the dividend paid with respect to each
other share of Series A Preferred Stock that is outstanding on such Dividend Record Date. &ldquo;<U>Dividend Record Date</U>&rdquo; shall
mean the date designated by the Board of Directors for the payment of dividends that is not more than 90 days prior to the applicable
Dividend Payment Date. &ldquo;<U>Dividend Payment Date</U>&rdquo; shall mean March 31, June 30, September 30 and December 31 of each year,
commencing on December 31, 2025. &ldquo;<U>Dividend Period</U>&rdquo; shall mean the respective periods commencing on and including the
first day of January, April, July and October of each year and ending on and including the day preceding the first day of the next succeeding
Dividend Period (other than the initial Dividend Period, which shall commence on the Original Issue Date and end on and include December
31, 2025, and other than the Dividend Period during which any shares of Series A Preferred Stock are redeemed pursuant to Section 5 or
Section 6 of these Articles Supplementary, which shall end on and include the day preceding the redemption date with respect to the shares
of Series A Preferred Stock being redeemed).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The term &ldquo;<U>Business Day</U>&rdquo; shall
mean each day, other than a Saturday or a Sunday, which is not a day on which banking institutions in New York, New York are required
by law, regulation or executive order to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>Notwithstanding anything contained in these Articles Supplementary to the contrary, dividends on the Series A Preferred
Stock shall accrue whether or not the Corporation has earnings, whether or not there are funds legally available for the payment of such
dividends, and whether or not such dividends are authorized or declared.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>Except as provided in Section 3(d) of these Articles Supplementary, no dividends shall be declared and paid or declared
and set apart for payment, and no other distribution of cash or other property may be declared and made, directly or indirectly, on or
with respect to, any shares of Common Stock or shares of any other class or series of capital stock of the Corporation ranking, as to
distributions, on parity with or junior to the Series A Preferred Stock (other than a dividend paid in shares of Common Stock or in shares
of any other class or series of capital stock ranking junior to the Series A Preferred Stock as to payment of distributions and the distribution
of assets upon the Corporation&rsquo;s liquidation, dissolution or winding up) for any period, nor shall any shares of Common Stock or
any other shares of any other class or series of capital stock of the Corporation ranking, as to payment of distributions and the distribution
of assets upon the Corporation&rsquo;s liquidation, dissolution or winding up, on parity with or junior to the Series A Preferred Stock
be redeemed, purchased or otherwise acquired for any consideration, nor shall any funds be paid or made available for a sinking fund for
the redemption of such shares, and no other distribution of cash or other property may be made, directly or indirectly, on or with respect
thereto by the Corporation (except by conversion into or in exchange for other shares of any class or series of capital stock of the Corporation
ranking junior to the Series A Preferred Stock as to payment of distributions and the distribution of assets upon the Corporation&rsquo;s
liquidation, dissolution or winding up, and except for the acquisition of shares made pursuant to the provisions of Article VII of the
Charter), unless full cumulative dividends on the Series A Preferred Stock for all past Dividend Periods that have ended shall have been
or contemporaneously are (i) declared and paid in cash or (ii) declared and a sum sufficient for the payment thereof in cash is set apart
for such payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>When dividends are not paid in full (or a sum sufficient for such full payment is not so set apart) on the Series A Preferred
Stock and on the shares of any other class or series of capital stock ranking, as to distributions, on parity with the Series A Preferred
Stock, all dividends declared upon the Series A Preferred Stock and each such other class or series of capital stock ranking, as to distributions,
on parity with the Series A Preferred Stock shall be declared pro rata so that the amount of dividends declared per share of Series A
Preferred Stock and such other class or series of capital stock shall in all cases bear to each other the same ratio that accrued dividends
per share on the Series A Preferred Stock and such other class or series of capital stock (which shall not include any accrual in respect
of unpaid dividends on such other class or series of capital stock for prior Dividend Periods if such other class or series of capital
stock does not have a cumulative dividend) bear to each other. No interest, or sum of money in lieu of interest, shall be payable in respect
of any dividend payment or payments on the Series A Preferred Stock which may be in arrears.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>Holders of shares of Series A Preferred Stock shall not be entitled to any dividend, whether payable in cash, property or
shares of capital stock, in excess of full cumulative dividends on the Series A Preferred Stock as provided in these Articles Supplementary.
Any dividend payment made on the Series A Preferred Stock shall first be credited against the earliest accrued but unpaid dividends due
with respect to such shares which remain payable. Accrued but unpaid dividends on the Series A Preferred Stock will accumulate as of the
Dividend Payment Date on which they first become payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>Liquidation Preference</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>Upon any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, before any distribution or
payment shall be made to holders of shares of Common Stock or any other class or series of capital stock of the Corporation ranking, as
to rights upon any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, junior to the Series A Preferred
Stock, the holders of shares of Series A Preferred Stock shall be entitled to be paid out of the assets of the Corporation legally available
for distribution to its stockholders, after payment of or provision for the debts and other liabilities of the Corporation and, subject
to compliance with Section 7(f)(i) of these Articles Supplementary, any class or series of capital stock of the Corporation ranking, as
to rights upon any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, senior to the Series A Preferred
Stock, a liquidation preference of $25.00 per share of the Series A Preferred Stock, plus an amount equal to any accrued and unpaid dividends
(whether or not authorized or declared) up to, but excluding, the date of payment. In the event that, upon such voluntary or involuntary
liquidation, dissolution or winding up, the available assets of the Corporation are insufficient to pay the full amount of the liquidating
distributions on all outstanding shares of Series A Preferred Stock and the corresponding amounts payable on all shares of each other
class or series of capital stock of the Corporation ranking, as to rights upon the Corporation&rsquo;s liquidation, dissolution or winding
up, on parity with the Series A Preferred Stock in the distribution of assets, then the holders of shares of the Series A Preferred Stock
and each such other class or series of capital stock ranking, as to rights upon any voluntary or involuntary liquidation, dissolution
or winding up, on parity with the Series A Preferred Stock shall share ratably in any such distribution of assets in proportion to the
full liquidating distributions to which they would otherwise be respectively entitled. Written notice of any such voluntary or involuntary
liquidation, dissolution or winding up of the Corporation, stating the payment date or dates when, and the place or places where, the
amounts distributable in such circumstances shall be payable, shall be given by first class mail, postage pre-paid, not fewer than 30
or more than 60 days prior to the payment date stated therein, to each record holder of shares of Series A Preferred Stock at the respective
addresses of such holders as the same shall appear on the stock transfer records of the Corporation. After payment of the full amount
of the liquidating distributions to which they are entitled, the holders of shares of the Series A Preferred Stock will have no right
or claim to any of the remaining assets of the Corporation. The consolidation or merger of the Corporation with or into any other corporation,
trust or other entity, or the voluntary sale, lease, transfer or conveyance of all or substantially all of the property or business of
the Corporation, shall not be deemed to constitute a liquidation, dissolution or winding up of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>In determining whether a distribution (other than upon voluntary or involuntary liquidation), by dividend, redemption or
other acquisition of shares of capital stock of the Corporation or otherwise, is permitted under the Maryland General Corporation Law,
amounts that would be needed, if the Corporation were to be dissolved at the time of the distribution, to satisfy the preferential rights
upon dissolution of holders of shares of Series A Preferred Stock shall not be added to the Corporation&rsquo;s total liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>Redemption</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>Shares of Series A Preferred Stock shall not be redeemable prior to November 12, 2030 except as set forth in Section 6 of
these Articles Supplementary or to preserve the status of the Corporation as a REIT (as defined in Article III of the Charter) for United
States federal income tax purposes. In addition, the Series A Preferred Stock shall be subject to the provisions of Article VII of the
Charter pursuant to which Series A Preferred Stock owned by a stockholder in excess of the Ownership Limit (as defined in Article VII
of the Charter) shall automatically be transferred to a Trust (as defined in Article VII of the Charter) for the exclusive benefit of
a Charitable Beneficiary (as defined in Article VII of the Charter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>On and after November 12, 2030, the Corporation, at its option, upon not fewer than 30 nor more than 60 days&rsquo; written
notice, may redeem the Series A Preferred Stock, in whole or in part, at any time or from time to time, for cash at a redemption price
of $25.00 per share, plus any accrued and unpaid dividends (whether or not authorized or declared) thereon up to, but excluding, the date
fixed for redemption, without interest, to the extent the Corporation has funds legally available therefor (the &ldquo;<U>Redemption Right</U>&rdquo;).
If fewer than all of the outstanding shares of Series A Preferred Stock are to be redeemed (in the case of a redemption of the Series
A Preferred Stock other than to preserve the status of the Corporation as a REIT), the shares of Series A Preferred Stock to be redeemed
shall be redeemed pro rata (as nearly as may be practicable without creating fractional shares) or by lot as determined by the Corporation.
If redemption is to be by lot and, as a result, any holder of shares of Series A Preferred Stock would have actual ownership, Beneficial
Ownership or Constructive Ownership (each as defined in Article VII of the Charter) in excess of the Ownership Limit (as defined in Article
VII of the Charter) or such other limit as permitted by the Board of Directors or a committee thereof pursuant to Section 7.2.7 of the
Charter, because such holder&rsquo;s shares of Series A Preferred Stock were not redeemed, or were only redeemed in part, then, except
as otherwise provided in the Charter, the Corporation shall redeem the requisite number of shares of Series A Preferred Stock of such
holder such that no holder will hold an amount of Series A Preferred Stock in excess of the applicable ownership limit, subsequent to
such redemption. Holders of shares of the Series A Preferred Stock to be redeemed must surrender such shares of the Series A Preferred
Stock at the place, or in accordance with the book-entry procedures, designated in such notice and shall be entitled to the redemption
price of $25.00 per share and any accrued and unpaid dividends payable upon such redemption following such surrender. If (i) notice of
redemption of any shares of Series A Preferred Stock has been given (in the case of a redemption of the Series A Preferred Stock other
than to preserve the status of the Corporation as a REIT), (ii) the funds necessary for such redemption have been set aside by the Corporation
in trust for the benefit of the holders of any shares of Series A Preferred Stock so called for redemption, and (iii) irrevocable instructions
have been given to pay the redemption price and any accrued and unpaid dividends, then from and after the redemption date, dividends shall
cease to accrue on such shares of Series A Preferred Stock, such shares of Series A Preferred Stock shall no longer be deemed outstanding,
and all rights of the holders of such shares shall terminate, except the right to receive the redemption price plus any accrued and unpaid
dividends payable upon such redemption, without interest. So long as full cumulative dividends on the Series A Preferred Stock and any
class or series of Parity Preferred (as defined below) for all past Dividend Periods that have ended shall have been or contemporaneously
are (i) declared and paid in cash, or (ii) declared and a sum sufficient for the payment thereof in cash is set apart for payment, nothing
in these Articles Supplementary shall prevent or restrict the Corporation&rsquo;s right or ability to purchase, from time to time, either
at a public or a private sale, all or any part of the Series A Preferred Stock at such price or prices as the Corporation may determine,
subject to the provisions of applicable law, including the repurchase of shares of Series A Preferred Stock in open-market transactions
duly authorized by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>In the event of any redemption of the Series A Preferred Stock in order to preserve the status of the Corporation as a REIT
for United States federal income tax purposes, such redemption shall be made in accordance with the terms and conditions set forth in
this Section 5 of these Articles Supplementary. If the Corporation calls for redemption of any shares of Series A Preferred Stock pursuant
to and in accordance with this Section 5(c), then the redemption price for such shares will be an amount in cash equal to $25.00 per share
together with any accrued and unpaid dividends up to, but excluding, the dated fixed for redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>Unless full cumulative dividends on the Series A Preferred Stock for all past Dividend Periods that have ended shall have
been or contemporaneously are (i) declared and paid in cash, or (ii) declared and a sum sufficient for the payment thereof in cash is
set apart for payment, no shares of Series A Preferred Stock shall be redeemed pursuant to the Redemption Right or Special Optional Redemption
Right (defined below) unless all outstanding shares of Series A Preferred Stock are simultaneously redeemed, and the Corporation shall
not purchase or otherwise acquire directly or indirectly any shares of Series A Preferred Stock or any class or series of capital stock
of the Corporation ranking, as to payment of distributions and the distribution of assets upon liquidation, dissolution or winding up
of the Corporation, on parity with or junior to the Series A Preferred Stock (except by conversion into or in exchange for shares of capital
stock of the Corporation ranking, as to payment of distributions and the distribution of assets upon liquidation, dissolution or winding
up of the Corporation, junior to the Series A Preferred Stock); <I>provided</I>, <I>however</I>, that the foregoing shall not prevent
the purchase of Series A Preferred Stock, or any other class or series of capital stock of the Corporation ranking, as to payment of distributions
and the distribution of assets upon liquidation, dissolution or winding up of the Corporation, on parity with or junior to the Series
A Preferred Stock, by the Corporation in accordance with the terms of Sections 5(c) and 9 of these Articles Supplementary or otherwise,
in order to ensure that the Corporation remains qualified as a REIT for United States federal income tax purposes, or the purchase or
acquisition of Series A Preferred Stock pursuant to a purchase or exchange offer made on the same terms to holders of all outstanding
shares of Series A Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>Notice of redemption pursuant to the Redemption Right will be mailed by the Corporation, postage prepaid, not fewer than
30 nor more than 60 days prior to the redemption date, addressed to the respective holders of record of the Series A Preferred Stock to
be redeemed at their respective addresses as they appear on the transfer records of the Corporation. No failure to give, nor defect in,
such notice, nor in the mailing thereof, shall affect the validity of the proceedings for the redemption of any shares of Series A Preferred
Stock except as to the holder to whom such notice was defective or not given. In addition to any information required by law or by the
applicable rules of any exchange upon which the Series A Preferred Stock may be listed or admitted to trading, each such notice shall
state: (i) the redemption date; (ii) the redemption price; (iii) the number of shares of Series A Preferred Stock to be redeemed; (iv)
the place or places where the certificates, if any, representing shares of Series A Preferred Stock are to be surrendered for payment
of the redemption price; (v) procedures for surrendering noncertificated shares of Series A Preferred Stock for payment of the redemption
price; (vi) that dividends on the shares of Series A Preferred Stock to be redeemed will cease to accumulate on such redemption date;
and (vii) that payment of the redemption price and any accumulated and unpaid dividends will be made upon presentation and surrender of
such Series A Preferred Stock. If fewer than all of the shares of Series A Preferred Stock held by any holder are to be redeemed, the
notice mailed to such holder shall also specify the number of shares of Series A Preferred Stock held by such holder to be redeemed. Notwithstanding
anything else to the contrary in these Articles Supplementary, the Corporation shall not be required to provide notice to a holder of
shares of Series A Preferred Stock in the event such holder&rsquo;s shares of Series A Preferred Stock are redeemed in accordance with
Sections 5(c) and 9 of these Articles Supplementary to preserve the Corporation&rsquo;s status as a REIT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>If a redemption date falls after a Dividend Record Date and on or prior to the corresponding Dividend Payment Date, each
holder of shares of Series A Preferred Stock at the close of business of such Dividend Record Date shall be entitled to the dividend payable
on such shares on the corresponding Dividend Payment Date notwithstanding the redemption of such shares on or prior to such Dividend Payment
Date. Except as provided in these Articles Supplementary, the Corporation shall make no payment or allowance for unpaid dividends, whether
or not in arrears, on Series A Preferred Stock for which a notice of redemption has been given.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>All shares of the Series A Preferred Stock redeemed or repurchased pursuant to this Section 5, or otherwise acquired in
any other manner by the Corporation, shall be retired and shall be restored to the status of authorized but unissued shares of Series
A Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>The Series A Preferred Stock shall have no stated maturity and shall not be subject to any sinking fund or mandatory redemption;
<I>provided</I>, <I>however</I>, that the shares of Series A Preferred Stock owned by a stockholder in excess of the applicable ownership
limit shall be subject to the provisions of this Section 5 and Article VII of the Charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>Special Optional Redemption by the Corporation</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>Upon the occurrence of a Change of Control (as defined below), the Corporation will have the option upon written notice
mailed by the Corporation, postage pre-paid, no fewer than 30 nor more than 60 days prior to the redemption date and addressed to the
holders of record of shares of the Series A Preferred Stock to be redeemed at their respective addresses as they appear on the share transfer
records of the Corporation, to redeem shares of the Series A Preferred Stock, in whole or in part within 120 days after the first date
on which such Change of Control occurred, for cash at $25.00 per share plus any accrued and unpaid dividends up to, but excluding, the
redemption date (&ldquo;<U>Special Optional Redemption Right</U>&rdquo;). No failure to give such notice or any defect thereto or in the
mailing thereof shall affect the validity of the proceedings for the redemption of any shares of Series A Preferred Stock except as to
the holder to whom notice was defective or not given. If, prior to the Change of Control Conversion Date (as defined below), the Corporation
has provided or provides notice of redemption with respect to the Series A Preferred Stock (whether pursuant to the Redemption Right or
the Special Optional Redemption Right), the holders of shares of Series A Preferred Stock will not have the conversion right described
below in Section 8 of these Articles Supplementary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A &ldquo;<U>Change of Control</U>&rdquo; is when,
after the original issuance of the Series A Preferred Stock, the following have occurred and are continuing:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"><FONT STYLE="color: windowtext">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT>the acquisition by any person, including any syndicate or group deemed to be a &ldquo;person&rdquo; under Section 13(d)(3)
of the Securities Exchange Act of 1934, as amended, of beneficial ownership, directly or indirectly, through a purchase, merger or other
acquisition transaction or series of purchases, mergers or other acquisition transactions of stock of the Corporation entitling that person
to exercise more than 50% of the total voting power of all stock of the Corporation entitled to vote generally in the election of the
Corporation&rsquo;s directors (except that such person will be deemed to have beneficial ownership of all securities that such person
has the right to acquire, whether such right is currently exercisable or is exercisable only upon the occurrence of a subsequent condition);
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"><FONT STYLE="color: windowtext">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>following
the closing of any transaction referred to in (i) above, neither the Corporation nor the acquiring or surviving entity has a class of
common securities (or American Depositary Receipts representing such securities) listed on the New York Stock Exchange (the &ldquo;<U>NYSE</U>&rdquo;),
the NYSE American, LLC (the &ldquo;<U>NYSE American</U>&rdquo;), or the Nasdaq Stock Market (&ldquo;<U>Nasdaq</U>&rdquo;), or listed
or quoted on an exchange or quotation system that is a successor to the NYSE, the NYSE American or Nasdaq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the foregoing, if the transaction
or series of transactions described in clause (i) above (the &ldquo;<U>Change of Control Transaction</U>&rdquo;) forms part of a series
of related transactions that occur within twelve (12) months of the closing or consummation of the Change of Control Transaction (including,
without limitation, any merger, consolidation, sale or transfer of assets, recapitalization, reorganization, or special or extraordinary
distribution, in each case outside of the ordinary course of the Corporation&rsquo;s business (the &ldquo;<U>Related Transactions</U>&rdquo;)),
and if the aggregate consideration paid to the Corporation and/or holders of the Common Stock in connection with the Change of Control
Transaction represents less than 50.0% of the aggregate consideration payable to the Corporation and/or holders of the Common Stock in
connection with both the Change of Control Transaction and the Related Transaction on a combined basis, then the Change of Control Transaction
shall be deemed to constitute a Change of Control, regardless of whether clause (ii) above is satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>In addition to any information required by law or by the applicable rules of any exchange upon which the Series A Preferred
Stock may be listed or admitted to trading, the notice referred to in Section 6(a) of these Articles Supplementary shall state: (A) the
redemption date; (B) the redemption price; (C) the number of shares of Series A Preferred Stock to be redeemed; (D) the place or places
where the certificates, if any, representing shares of Series A Preferred Stock are to be surrendered for payment of the redemption price;
(E) procedures for surrendering noncertificated shares of Series A Preferred Stock for payment of the redemption price; (F) that dividends
on the shares of Series A Preferred Stock to be redeemed will cease to accumulate on the redemption date; (G) that payment of the redemption
price and any accumulated and unpaid dividends will be made upon presentation and surrender of such Series A Preferred Stock; (H) that
the shares of Series A Preferred Stock are being redeemed pursuant to the Special Optional Redemption Right in connection with the occurrence
of a Change of Control and a brief description of the transaction or transactions constituting such Change of Control; and (I) that the
holders of the shares of Series A Preferred Stock to which the notice relates will not be able to tender such shares for conversion in
connection with the Change of Control and each share of Series A Preferred Stock tendered for conversion that is selected, prior to the
Change of Control Conversion Date, for redemption will be redeemed on the related redemption date instead of converted on the Change of
Control Conversion Date. If fewer than all of the shares of Series A Preferred Stock held by any holder are to be redeemed, the notice
mailed to such holder shall also specify the number of shares of Series A Preferred Stock held by such holder to be redeemed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">If fewer than all of the outstanding shares of Series
A Preferred Stock are to be redeemed pursuant to the Special Optional Redemption Right, the shares of Series A Preferred Stock to be redeemed
shall be redeemed pro rata (as nearly as may be practicable without creating fractional shares) or by lot as determined by the Corporation.
If such redemption pursuant to the Special Optional Redemption Right is to be by lot and, as a result, any holder of shares of Series
A Preferred Stock would have actual ownership, Beneficial Ownership or Constructive Ownership (each as defined in Article VII of the Charter)
in excess of the Ownership Limit (as defined in Article VII of the Charter) or such other limit as permitted by the Board of Directors
or a committee thereof pursuant to Section 7.2.7 of the Charter, because such holder&rsquo;s shares of Series A Preferred Stock were not
redeemed, or were only redeemed in part, then, except as otherwise provided in the Charter, the Corporation shall redeem the requisite
number of shares of Series A Preferred Stock of such holder such that no holder will hold an amount of Series A Preferred Stock in excess
of the applicable ownership limit subsequent to such redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>If the Corporation has given a notice of redemption pursuant to the Special Optional Redemption Right and has set aside
sufficient funds for the redemption in trust for the benefit of the holders of the Series A Preferred Stock called for redemption, then
from and after the redemption date, those shares of Series A Preferred Stock will be treated as no longer being outstanding, no further
dividends will accrue and all other rights of the holders of those shares of Series A Preferred Stock will terminate. The holders of those
shares of Series A Preferred Stock will retain their right to receive the redemption price for their shares and any accrued and unpaid
dividends up to, but excluding, the redemption date, without interest. So long as full cumulative dividends on the Series A Preferred
Stock and any class or series of Parity Preferred Stock for all past Dividend Periods that have ended shall have been or contemporaneously
are (i) declared and paid in cash, or (ii) declared and a sum sufficient for the payment thereof in cash is set apart for payment, nothing
in these Articles Supplementary shall prevent or restrict the Corporation&rsquo;s right or ability to purchase, from time to time, either
at a public or a private sale, all or any part of the Series A Preferred Stock at such price or prices as the Corporation may determine,
subject to the provisions of applicable law, including the repurchase of shares of Series A Preferred Stock in open-market transactions
duly authorized by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>The holders of shares of Series A Preferred Stock at the close of business on a Dividend Record Date will be entitled to
receive the dividend payable with respect to the Series A Preferred Stock on the corresponding Dividend Payment Date notwithstanding the
redemption of the Series A Preferred Stock pursuant to the Special Optional Redemption Right between such Dividend Record Date and the
corresponding Dividend Payment Date or the Corporation&rsquo;s default in the payment of the dividend due. Except as provided in these
Articles Supplementary, the Corporation shall make no payment or allowance for unpaid dividends, whether or not in arrears, on Series
A Preferred Stock for which a notice of redemption pursuant to the Special Optional Redemption Right has been given.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>All shares of the Series A Preferred Stock redeemed or repurchased pursuant to this Section 6, or otherwise acquired in
any other manner by the Corporation, shall be retired and shall be restored to the status of authorized but unissued shares of Series
A Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>Voting Rights</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>Holders of shares of the Series A Preferred Stock shall not have any voting rights, except as set forth in this Section
7.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>Whenever dividends on any shares of Series A Preferred Stock shall be in arrears for six or more consecutive or non-consecutive
quarterly periods (a &ldquo;<U>Preferred Dividend Default</U>&rdquo;), the holders of such shares of Series A Preferred Stock (voting
separately as a class together with the holders of all other classes or series of preferred stock of the Corporation ranking on parity
with the Series A Preferred Stock with respect to payment of distributions and the distribution of assets upon the Corporation&rsquo;s
liquidation, dissolution or winding up and upon which like voting rights have been conferred and are exercisable (&ldquo;<U>Parity Preferred</U>&rdquo;))
shall be entitled to vote for the election of a total of two additional directors of the Corporation (the &ldquo;<U>Preferred Directors</U>&rdquo;)
until all dividends accumulated on such Series A Preferred Stock and Parity Preferred for the past Dividend Periods that have ended shall
have been fully paid. In such case, the number of directors serving on the Board of Directors will be increased by two.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>The Preferred Directors will be elected by a plurality of the votes cast in the election for a one-year term and each Preferred
Director will serve until his or her successor is duly elected and qualifies or until such Preferred Director&rsquo;s right to hold the
office terminates, whichever occurs earlier, subject to such Preferred Director&rsquo;s earlier death, disqualification, resignation or
removal. The election will take place at (i) either (A) a special meeting called in accordance with Section 7(d) of these Articles Supplementary
if the request is received more than 90 days before the date fixed for the Corporation&rsquo;s next annual or special meeting of stockholders
or (B) the next annual or special meeting of stockholders of the Corporation if the request is received within 90 days before the date
fixed for the Corporation&rsquo;s next annual or special meeting of stockholders, and (ii) at each subsequent annual meeting of stockholders,
or special meeting held in place thereof, until all such dividends in arrears on the Series A Preferred Stock and each such class or series
of outstanding Parity Preferred have been paid in full. A dividend payment in respect of Series A Preferred Stock shall be considered
timely made if made within two Business Days after the applicable Dividend Payment Date if at the time of such late payment date there
shall not be any prior quarterly Dividend Periods in respect of which full dividends were not timely paid at the applicable Dividend Payment
Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>At any time when such voting rights shall have vested, a proper officer of the Corporation shall call or cause to be called,
upon written request of holders of record of at least 33% of the outstanding shares of Series A Preferred Stock and Parity Preferred,
a special meeting of the holders of Series A Preferred Stock and each class or series of Parity Preferred by mailing or causing to be
mailed to such holders a notice of such special meeting to be held not fewer than ten nor more than 45 days after the date such notice
is given. The record date for determining holders of shares of the Series A Preferred Stock and Parity Preferred entitled to notice of
and to vote at such special meeting will be the close of business on the third Business Day preceding the day on which such notice is
mailed. At any such annual or special meeting, all of the holders of shares of the Series A Preferred Stock and Parity Preferred, by plurality
vote, voting together as a single class without regard to class or series will be entitled to elect two directors on the basis of one
vote per $25.00 of liquidation preference to which such Series A Preferred Stock and Parity Preferred are entitled by their terms (excluding
amounts in respect of accumulated and unpaid dividends) and not cumulatively. The holder or holders of shares of one-third of the Series
A Preferred Stock and Parity Preferred voting together as a single class then outstanding, present in person or by proxy, will constitute
a quorum for the election of the Preferred Directors except as otherwise provided by law. Notice of all meetings at which holders of shares
of the Series A Preferred Stock and the Parity Preferred shall be entitled to vote will be given to such holders at their addresses as
they appear in the transfer records of the Corporation. At any such meeting or adjournment thereof in the absence of a quorum, subject
to the provisions of any applicable law, a majority of the holders of shares of the Series A Preferred Stock and the Parity Preferred
voting together as a single class present in person or by proxy shall have the power to adjourn the meeting for the election of the Preferred
Directors, without notice other than an announcement at the meeting, until a quorum is present. If a Preferred Dividend Default shall
terminate after the notice of a special meeting has been given but before such special meeting has been held, the Corporation shall, as
soon as practicable after such termination, mail or cause to be mailed notice of such termination to holders of shares of the Series A
Preferred Stock that would have been entitled to vote at such special meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>If and when all accumulated dividends shall have been paid in full on such Series A Preferred Stock and all classes or series
of Parity Preferred for the past Dividend Periods that have ended, the right of the holders of shares of the Series A Preferred Stock
and the Parity Preferred to elect such additional two directors shall immediately cease (subject to revesting in the event of each and
every Preferred Dividend Default), and the term of office of each Preferred Director so elected shall terminate and the number of directors
serving on the Board of Directors shall be reduced accordingly. Any Preferred Director may be removed at any time with or without cause
by the vote of, and shall not be removed otherwise than by the vote of, the holders of record of a majority of the outstanding shares
of Series A Preferred Stock and the Parity Preferred entitled to vote thereon when they have the voting rights set forth in Section 7(b)
of these Articles Supplementary (voting together as a single class). So long as a Preferred Dividend Default shall continue, any vacancy
in the office of a Preferred Director may be filled by written consent of the Preferred Director remaining in office, or if none remains
in office, by a vote of the holders of record of a majority of the outstanding shares of Series A Preferred Stock when they have the voting
rights described above (voting together as a single class with all other classes or series of Parity Preferred). Each of the Preferred
Directors shall be entitled to one vote on any matter before the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>So long as any shares of Series A Preferred Stock remain outstanding, the affirmative vote or consent of the holders of
at least two-thirds of the outstanding shares of Series A Preferred Stock and each other class or series of Parity Preferred outstanding
at the time, given in person or by proxy, either in writing or at a meeting (voting together as a single class) will be required to: (i)
authorize, create or issue, or increase the number of authorized or issued shares of, any class or series of capital stock ranking senior
to the Series A Preferred Stock with respect to distribution rights and rights upon liquidation, dissolution or winding up of the Corporation
(collectively, &ldquo;<U>Senior Capital Stock</U>&rdquo;) or reclassify any authorized shares of capital stock of the Corporation into
such Senior Capital Stock, or create, authorize or issue any obligation or security convertible into or evidencing the right to purchase
any such Senior Capital Stock; or (ii) amend, alter or repeal the provisions of the Charter, including the terms of the Series A Preferred
Stock, whether by merger, consolidation, transfer or conveyance of all or substantially all of the Corporation&rsquo;s assets or otherwise
(an &ldquo;<U>Event</U>&rdquo;), so as to materially and adversely affect the rights, preferences, privileges or voting powers of the
Series A Preferred Stock; provided however, with respect to the occurrence of any of the Events set forth in (ii) above, so long as the
Series A Preferred Stock remains outstanding with the terms thereof materially unchanged or the holders of shares of Series A Preferred
Stock receive stock of the successor with substantially similar rights, taking into account that, upon the occurrence of an Event set
forth in (ii) above, the Corporation may not be the surviving entity, the occurrence of such Event shall not be deemed to materially and
adversely affect such rights, preferences, privileges or voting powers of the Series A Preferred Stock, and in such case such holders
shall not have any voting rights with respect to the occurrence of any of the Events set forth in (ii) above. In addition, if the holders
of shares of the Series A Preferred Stock receive the greater of the full trading price of the Series A Preferred Stock on the date of
an Event set forth in (ii) above or the $25.00 per share liquidation preference, plus any accrued and unpaid dividends thereon, of the
Series A Preferred Stock pursuant to the occurrence of any of the Events set forth in (ii) above, then such holders shall not have any
voting rights with respect to the Events set forth in (ii) above. If any Event set forth in (ii) above would materially and adversely
affect the rights, preferences, privileges or voting powers of the Series A Preferred Stock disproportionately relative to other classes
or series of Parity Preferred, the affirmative vote of the holders of at least two-thirds of the outstanding shares of the Series A Preferred
Stock, voting separately as a class, will also be required. Holders of shares of Series A Preferred Stock shall not be entitled to vote
with respect to (A) any increase in the total number of authorized shares of Common Stock or Preferred Stock, or (B) any increase in the
number of authorized shares of Series A Preferred Stock or the creation or issuance of any other class or series of capital stock, or
(C) any increase in the number of authorized shares of any other class or series of capital stock, in each case referred to in clause
(A), (B) or (C) above ranking on parity with or junior to the Series A Preferred Stock with respect to distribution rights and rights
upon liquidation, dissolution or winding up of the Corporation. Except as set forth in these Articles Supplementary, holders of shares
of the Series A Preferred Stock shall not have any voting rights with respect to, and the consent of the holders of shares of the Series
A Preferred Stock shall not be required for, the taking of any corporate action, including an Event, regardless of the effect that such
corporate action or Event may have upon the powers, preferences, voting powers or other rights or privileges of the Series A Preferred
Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>The foregoing voting provisions of this Section 7 shall not apply if, at or prior to the time when the act with respect
to which such vote would otherwise be required shall be effected, all outstanding shares of Series A Preferred Stock shall have been redeemed
or called for redemption upon proper notice pursuant to these Articles Supplementary, and sufficient funds, in cash, shall have been deposited
in trust to effect such redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>In any matter in which the Series A Preferred Stock may vote (as expressly provided in these Articles Supplementary), each
share of Series A Preferred Stock shall be entitled to one vote per $25.00 of liquidation preference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>Conversion</U>. The shares of Series A Preferred Stock are not convertible into or exchangeable for any other property
or securities of the Corporation, except as provided in this Section&nbsp;8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>Upon the occurrence of a Change of Control, each holder of shares of Series A Preferred Stock shall have the right, unless,
prior to the Change of Control Conversion Date, the Corporation has provided or provides notice of its election to redeem the Series A
Preferred Stock pursuant to the Redemption Right or Special Optional Redemption Right, to convert some or all of the shares of Series
A Preferred Stock held by such holder (the &ldquo;<U>Change of Control Conversion Right</U>&rdquo;) on the Change of Control Conversion
Date into a number of shares of Common Stock per share of Series A Preferred Stock to be converted (the &ldquo;<U>Common Stock Conversion
Consideration</U>&rdquo;), equal to the lesser of (A) the quotient obtained by dividing (i) the sum of (x) the $25.00 liquidation preference
per share of Series A Preferred Stock to be converted plus (y) the amount of any accrued and unpaid dividends up to, but excluding, the
Change of Control Conversion Date (unless the Change of Control Conversion Date is after a Dividend Record Date and prior to the corresponding
Dividend Payment Date, in which case no additional amount for such accrued and unpaid dividends will be included in such sum) by (ii)
the Common Stock Price (as defined below) and (B) 3.38066 (the &ldquo;<U>Share Cap</U>&rdquo;), subject to the immediately succeeding
paragraph.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Share Cap is subject to pro rata adjustments
for any share splits (including those effected pursuant to a distribution of the Common Stock), subdivisions or combinations (in each
case, a &ldquo;<U>Share Split</U>&rdquo;) with respect to the Common Stock as follows: the adjusted Share Cap as the result of a Share
Split shall be the number of shares of Common Stock that is equivalent to the product obtained by multiplying (i) the Share Cap in effect
immediately prior to such Share Split by (ii) a fraction, the numerator of which is the number of shares of Common Stock outstanding after
giving effect to such Share Split and the denominator of which is the number of shares of Common Stock outstanding immediately prior to
such Share Split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For the avoidance of doubt, subject to the immediately
succeeding sentence, the aggregate number of shares of Common Stock (or equivalent Alternative Conversion Consideration (as defined below),
as applicable) issuable in connection with the exercise of the Change of Control Conversion Right shall not exceed 7,775,518 shares of
Common Stock (or equivalent Alternative Conversion Consideration, as applicable) (the &ldquo;<U>Exchange Cap</U>&rdquo;). The Exchange
Cap is subject to pro rata adjustments for any Share Splits on the same basis as the corresponding adjustments to the Share Cap and for
additional issuances of shares of Series A Preferred Stock, if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the case of a Change of Control pursuant to
which shares of Common Stock shall be converted into cash, securities or other property or assets (including any combination thereof)
(the &ldquo;<U>Alternative Form Consideration</U>&rdquo;), a holder of shares of Series A Preferred Stock shall receive upon conversion
of such shares of Series A Preferred Stock the kind and amount of Alternative Form Consideration which such holder would have owned or
been entitled to receive upon the Change of Control had such holder held a number of shares of Common Stock equal to the Common Stock
Conversion Consideration immediately prior to the effective time of the Change of Control (the &ldquo;<U>Alternative Conversion Consideration</U>&rdquo;;
and the Common Stock Conversion Consideration or the Alternative Conversion Consideration, as may be applicable to a Change of Control,
shall be referred to in these Articles Supplementary as the &ldquo;<U>Conversion Consideration</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event that holders of Common Stock have
the opportunity to elect the form of consideration to be received in the Change of Control, the Conversion Consideration will be deemed
to be the kind and amount of consideration actually received by holders of a majority of the Common Stock that voted for such an election
(if electing between two types of consideration) or holders of a plurality of the shares of the Common Stock that voted for such an election
(if electing between more than two types of consideration), as the case may be, and will be subject to any limitations to which all holders
of Common Stock are subject, including, without limitation, pro rata reductions applicable to any portion of the consideration payable
in the Change of Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The &ldquo;<U>Change of Control Conversion Date</U>&rdquo;
shall be a Business Day set forth in the notice of Change of Control provided in accordance with Section 8(c) of these Articles Supplementary
that is no fewer than 20 days nor more than 35 days after the date on which the Corporation provides such notice pursuant to Section 8(c)
of these Articles Supplementary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The &ldquo;<U>Common Stock Price</U>&rdquo; shall
be (i) if the consideration to be received in the Change of Control by the holders of Common Stock is solely cash, the amount of cash
consideration per share of Common Stock or (ii) if the consideration to be received in the Change of Control by holders of Common Stock
is other than solely cash (x) the average of the closing sale prices per share of Common Stock (or, if no closing sale price is reported,
the average of the closing bid and ask prices or, if more than one in either case, the average of the average closing bid and the average
closing ask prices) for the ten consecutive trading days immediately preceding, but not including, the effective date of the Change of
Control as reported on the principal U.S. securities exchange on which the Common Stock is then traded, or (y) the average of the last
quoted bid prices for the Common Stock in the over-the-counter market as reported by OTC Markets Group Inc. or similar organization for
the ten consecutive trading days immediately preceding, but not including, the effective date of the Change of Control, if the Common
Stock is not then listed for trading on a U.S. securities exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>No fractional shares of Common Stock shall be issued upon the conversion of Series A Preferred Stock. In lieu of fractional
shares, holders shall be entitled to receive the cash value of such fractional shares based on the Common Stock Price. If more than one
share of Series A Preferred Stock is surrendered for conversion at one time by or for the same holder, the number of full shares of Common
Stock issuable upon conversion thereof shall be computed on the basis of the aggregate number of shares of Series A Preferred Stock so
surrendered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>Within 15 days following the occurrence of a Change of Control, a notice of occurrence of the Change of Control, describing
the resulting Change of Control Conversion Right, shall be delivered to the holders of record of the shares of Series A Preferred Stock
at their addresses as they appear on the Corporation&rsquo;s share transfer records and notice shall be provided to the Corporation&rsquo;s
transfer agent. No failure to give such notice or any defect thereto or in the mailing thereof shall affect the validity of the proceedings
for the conversion of any share of Series A Preferred Stock except as to the holder to whom notice was defective or not given. Each notice
shall state: (i) the events constituting the Change of Control; (ii) the date of the Change of Control; (iii) the last date on which the
holders of Series A Preferred Stock may exercise their Change of Control Conversion Right; (iv) the method and period for calculating
the Common Stock Price; (v) the Change of Control Conversion Date; (vi) that if, prior to the Change of Control Conversion Date, the Corporation
has provided or provides notice of its election to redeem all or any portion of the Series A Preferred Stock, the holder will not be able
to convert shares of Series A Preferred Stock designated for redemption and such shares of Series A Preferred Stock shall be redeemed
on the related redemption date, even if they have already been tendered for conversion pursuant to the Change of Control Conversion Right;
(vii) if applicable, the type and amount of Alternative Conversion Consideration entitled to be received per share of Series A Preferred
Stock; (viii) the name and address of the paying agent and the conversion agent; and (ix) the procedures that the holders of Series A
Preferred Stock must follow to exercise the Change of Control Conversion Right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>The Corporation shall issue a press release for publication on the Dow Jones &amp; Company, Inc., Business Wire, PR Newswire
or Bloomberg Business News (or, if such organizations are not in existence at the time of issuance of such press release, such other news
or press organization as is reasonably calculated to broadly disseminate the relevant information to the public), or post notice on the
Corporation&rsquo;s website, in any event prior to the opening of business on the first Business Day following any date on which the Corporation
provides notice pursuant to Section 8(c) of these Articles Supplementary to the holders of Series A Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>In order to exercise the Change of Control Conversion Right, a holder of shares of Series A Preferred Stock shall be required
to deliver, on or before the close of business on the Change of Control Conversion Date, the certificates (if any) representing the shares
of Series A Preferred Stock to be converted, duly endorsed for transfer, together with a written conversion notice completed, to the Corporation&rsquo;s
transfer agent. Such notice shall state: (i) the relevant Change of Control Conversion Date; (ii) the number of shares of Series A Preferred
Stock to be converted; and (iii) that the shares of Series A Preferred Stock are to be converted pursuant to the applicable provisions
of these Articles Supplementary. Notwithstanding the foregoing, if the shares of Series A Preferred Stock are held in global form, such
notice shall comply with applicable procedures of The Depository Trust Company (&ldquo;<U>DTC</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>Holders of shares of the Series A Preferred Stock may withdraw any notice of exercise of a Change of Control Conversion
Right (in whole or in part) by a written notice of withdrawal delivered to the Corporation&rsquo;s transfer agent prior to the close of
business on the Business Day prior to the Change of Control Conversion Date. The notice of withdrawal must state: (i) the number of withdrawn
shares of Series A Preferred Stock; (ii) if certificated shares of Series A Preferred Stock have been issued, the certificate numbers
of the withdrawn shares of Series A Preferred Stock; and (iii) the number of shares of Series A Preferred Stock, if any, which remain
subject to the conversion notice. Notwithstanding the foregoing, if the shares of Series A Preferred Stock are held in global form, the
notice of withdrawal shall comply with applicable procedures of DTC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>Shares of Series A Preferred Stock as to which the Change of Control Conversion Right has been properly exercised and for
which the conversion notice has not been properly withdrawn shall be converted into the applicable Conversion Consideration in accordance
with the Change of Control Conversion Right on the Change of Control Conversion Date, unless, prior to the Change of Control Conversion
Date, the Corporation has provided or provides notice of its election to redeem such shares of Series A Preferred Stock, whether pursuant
to its Redemption Right or Special Optional Redemption Right. If the Corporation elects to redeem shares of Series A Preferred Stock that
would otherwise be converted into the applicable Conversion Consideration on a Change of Control Conversion Date, such shares of Series
A Preferred Stock shall not be so converted and the holders of such shares shall be entitled to receive on the applicable redemption date
$25.00 per share, plus any accrued and unpaid dividends thereon up to, but excluding, the redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT>The Corporation shall deliver the applicable Conversion Consideration no later than the third Business Day following the
Change of Control Conversion Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: windowtext">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT>Notwithstanding anything to the contrary contained in these Articles Supplementary, no holder of shares of Series A Preferred
Stock will be entitled to convert such shares of Series A Preferred Stock into shares of Common Stock to the extent that receipt of such
shares of Common Stock would cause the holder of such shares of Common Stock (or any other person) to have actual ownership, Beneficial
Ownership or Constructive Ownership (each as defined in Article VII of the Charter) in excess of the Ownership Limit (as defined in Article
VII of the Charter) or such other limit as permitted by the Board of Directors or a committee thereof pursuant to Section 7.2.7 of the
Charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>Restrictions on Ownership and Transfer to Preserve Tax Benefit</U>. The Series A Preferred Stock constitutes Capital
Stock (as defined in Article VII of the Charter) and, as such, is subject to the provisions of Article VII of the Charter applicable to
Capital Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>No Conversion Rights</U>. The shares of Series A Preferred Stock shall not be convertible into or exchangeable for any
other property or securities of the Corporation or any other entity, except as otherwise provided in these Articles Supplementary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>Record Holders</U>. The Corporation and its transfer agent may deem and treat the record holder of any share of Series
A Preferred Stock as the true and lawful owner thereof for all purposes, and neither the Corporation nor its transfer agent shall be affected
by any notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>No Maturity or Sinking Fund</U>. The Series A Preferred Stock has no stated maturity date, and no sinking fund has been
established for the retirement or redemption of Series A Preferred Stock; <I>provided</I>, <I>however</I>, that the shares of Series A
Preferred Stock owned by a stockholder in excess of the Ownership Limit (as defined in Article VII of the Charter) shall be subject to
the provisions of Section 5 of these Articles Supplementary and Article VII of the Charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>Exclusion of Other Rights</U>. The Series A Preferred Stock shall not have any preferences or other rights, voting powers,
restrictions, limitations as to dividends or other distributions, qualifications or terms or conditions of redemption other than expressly
set forth in the Charter and these Articles Supplementary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>Headings of Subdivisions</U>. The headings of the various subdivisions of these Articles Supplementary are for convenience
of reference only and shall not affect the interpretation of any of the provisions of these Articles Supplementary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>Severability of Provisions</U>. If any preferences or other rights, voting powers, restrictions, limitations as to dividends
or other distributions, qualifications or terms or conditions of redemption of the Series A Preferred Stock set forth in the Charter and
these Articles Supplementary are invalid, unlawful or incapable of being enforced by reason of any rule of law or public policy, all other
preferences or other rights, voting powers, restrictions, limitations as to dividends or other distributions, qualifications or terms
or conditions of redemption of Series A Preferred Stock set forth in the Charter which can be given effect without the invalid, unlawful
or unenforceable provision thereof shall, nevertheless, remain in full force and effect and no preferences or other rights, voting powers,
restrictions, limitations as to dividends or other distributions, qualifications or terms or conditions of redemption of the Series A
Preferred Stock set forth in these Articles Supplementary shall be deemed dependent upon any other provision thereof unless so expressed
therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: windowtext">16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT></FONT><U>No Preemptive Rights</U>. No holder of shares of Series A Preferred Stock shall be entitled to any preemptive rights
to subscribe for or acquire any unissued shares of capital stock of the Corporation (whether now or hereafter authorized) or securities
of the Corporation convertible into or carrying a right to subscribe to or acquire shares of capital stock of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>SECOND</B>: The Series A Preferred Stock has
been classified and designated by the Board of Directors under the authority contained in the Charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>THIRD</B>: These Articles Supplementary have
been approved by the Board of Directors in the manner and by the vote required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>FOURTH</B>: These Articles Supplementary shall
be effective at the time the Department accepts these Articles Supplementary for record.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>FIFTH</B>: The undersigned President and Chief
Executive Officer of the Corporation acknowledges these Articles Supplementary to be the corporate act of the Corporation and, as to all
matters or facts required to be verified under oath, the undersigned President and Chief Executive Officer acknowledges that, to the best
of his knowledge, information and belief, these matters and facts are true in all material respects and that this statement is made under
the penalties for perjury.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signature page follows</I>.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, Alpine Income Property Trust,
Inc. has caused these Articles Supplementary to be signed in its name and on its behalf by its President and Chief Executive Officer and
witnessed by its Senior Vice President, Chief Financial Officer and Treasurer on November 10, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">ALPINE INCOME PROPERTY TRUST, INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%"><FONT STYLE="font-size: 10pt">/s/
    John P. Albright</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">John P. Albright</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">President and Chief Executive Officer</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">WITNESS:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%"><FONT STYLE="font-size: 10pt">/s/ Philip R. Mays</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Philip R. Mays</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Senior Vice President, Chief Financial Officer and Treasurer</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[<I>Signature Page to Alpine
Income Property Trust, Inc. <BR>
Articles Supplementary (Series A Preferred Stock)</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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