Elizabeth Anne Ryan - 31 Dec 2025 Form 5 Insider Report for Forum Real Estate Income Fund

Role: Secretary
Signature: /s/ Elizabeth Anne Ryan
Issuer symbol: N/A
Transactions as of: 31 Dec 2025
Net transactions value: +$28,255
Form type: 5
Filing time: 06 Feb 2026, 16:15:35 UTC
Previous filing: 16 Apr 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Ryan Elizabeth Anne	Secretary	C/O FORUM CAPITAL ADVISORS, LLC, 240 SAINT PAUL STREET, SUITE 400, DENVER	/s/ Elizabeth Anne Ryan	06 Feb 2026	0001953425

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction		Founders Shares	Purchase	$3,559	+369	+12%	$9.65	3,493	31 Dec 2025	Direct	F1
transaction		Founders Shares	Purchase	$1,838	+190	+5.8%	$9.66	3,493	30 Jan 2025	Direct	F1
transaction		Founders Shares	Purchase	$1,748	+181	+5.5%	$9.68	3,493	27 Feb 2025	Direct	F1
transaction		Founders Shares	Purchase	$1,805	+187	+5.7%	$9.65	3,493	28 Mar 2025	Direct	F1
transaction		Founders Shares	Purchase	$1,967	+204	+6.2%	$9.62	3,493	29 Apr 2025	Direct	F1
transaction		Founders Shares	Purchase	$1,992	+200	+6.1%	$9.95	3,493	29 May 2025	Direct	F1
transaction		Founders Shares	Purchase	$2,096	+216	+6.6%	$9.69	3,493	27 Jun 2025	Direct	F1
transaction		Founders Shares	Purchase	$1,838	+189	+5.7%	$9.73	3,493	30 Jul 2025	Direct	F1
transaction		Founders Shares	Purchase	$2,142	+220	+6.7%	$9.75	3,493	28 Aug 2025	Direct	F1
transaction		Founders Shares	Purchase	$2,450	+252	+7.8%	$9.73	3,493	29 Sep 2025	Direct	F1
transaction		Founders Shares	Purchase	$2,427	+249	+7.7%	$9.76	3,493	30 Oct 2025	Direct	F1
transaction		Founders Shares	Purchase	$2,430	+249	+7.7%	$9.74	3,493	28 Nov 2025	Direct	F1
transaction		Founders Shares	Purchase	$1,962	+203	+6.2%	$9.65	3,493	31 Dec 2025	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Shares beneficially owned include 819.397 shares received through the Forum Real Estate Income Fund Dividend Reinvestment Plan (221.112 shares in 2023, 298.009 shares in 2024, and 300.276 shares in 2025).