John Mazarakis - May 23, 2022 Form 4 Insider Report for Chicago Atlantic Real Estate Finance, Inc. (REFI)

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	REFI	Common Stock	Purchase	$109K	+7K	+4.48%	$15.50	163K	May 23, 2022	Direct	F1, F2
holding	REFI	Common Stock						5K	May 23, 2022	By spouse	F5
holding	REFI	Common Stock						19.6K	May 23, 2022	Held through ownership of interests in Chicago Atlantic Fund, LLC	F3, F5
holding	REFI	Common Stock						23.9K	May 23, 2022	Held through ownership of interests in Chicago Atlantic Fund QP, LLC	F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	The price reported is a weighted average price. The reporting person undertakes to provide the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each specific price.
F2	156,250 of the shares held directly by Mr. Mazarakis are subject to a 180-day lockup that ends on June 5, 2022.
F3	Included in the 19,616 shares are 12,872 shares held through Joppa Seasonings, of which Mr. Mazarakis owns a 25% interest, 1,775 shares held directly, and 4,970 shares held through Mr. Mazarakis's interest in Chicago Atlantic Management, LLC, the managing member of Chicago Atlantic Fund, LLC.
F4	Included in the 23,912 shares are 17,290 shares held through Joppa Seasonings, of which Mr. Mazarakis owns a 25% interest, 4,677 shares held directly, and 1,945 shares held through Mr. Mazarakis's interest in Chicago Atlantic Management, LLC, the managing member of Chicago Atlantic Fund, LLC.
F5	All of the shares held indirectly by Mr. Mazarakis are subject to a 180-day lockup that ends on June 5, 2022.