About Us Arbor Realty Collateral Management, LLC (“ARCM”) is a collateral and loan obligation manager, established in 2005, that provides certain advisory, administrative and monitoring services in connection with the specific collateralized loan obligations of Arbor Realty Commercial Real Estate Notes 2019- FL2, Ltd., Arbor Realty Commercial Real Estate Notes 2020-FL1, Ltd., Arbor Realty Commercial Real Estate Notes 2021-FL1, Ltd., Arbor Realty Commercial Real Estate Notes 2021-FL2, Ltd., Arbor Realty Commercial Real Estate Notes 2021-FL3, Ltd., Arbor Realty Commercial Real Estate Notes 2021-FL4, Ltd., Arbor Realty Commercial Real Estate Notes 2022-FL1, Ltd., and Arbor Realty Commercial Real Estate Notes 2022-FL2, LLC (collectively, the “CLOs”). Each CLO is an issuer of certain collateralized loan obligations. ARCM is a wholly owned subsidiary of Arbor Realty SR, Inc. (“ARSR”), which in turn is a publicly traded real estate investment trust wholly owned by Arbor Realty Trust, Inc. (“ART”), a real estate investment trust. While ARCM is authorized to provide advisory services to third parties, its current role is solely as a loan obligation manager of the CLOs. ARCM was established, and is directly and wholly owned, by ARSR and is an indirect, wholly-owned subsidiary of ART. Collectively, ART and its subsidiaries and affiliates have extensive experience in mortgage origination, servicing and securitization. ARCM’s role, pursuant to the loan obligation management agreements executed between ARCM and each CLO (“Loan Obligation Management Agreements”), is to ensure that the CLOs perform in accordance with their governing documents and for the benefit of their investors. Specifically, ARCM manages the portfolios in order to generate sufficient returns to meet the CLOs’ payment obligations and to optimize the returns to the investors. ARCM plays a pivotal role in the management and maintenance of the securities related to the CLOs. Its role is embedded in the issuance of the CLOs, during the active life of the CLOs and through maturity. ARCM does not currently participate in any wrap fee programs. Subject to the terms and conditions of the agreements relating to the CLOs, ARCM has the authority to make decisions regarding the credit quality of the CLOs and their respective portfolios. In accordance with the governing documents for each clients’ assets, ARCM may recommend those transactions categorized as “restricted” within the governing documents for each clients’ assets, provided, however, that the appropriate disclosures are made, approvals secured from the requisite committees and persons, and evidence of favorability provided. This role of loan obligation manager and investment advisor is an important one and requires

a commitment to quality and accuracy, an appreciation for a strict adherence to rules and regulations, while maintaining needed flexibility to react to changing circumstances. The experienced team employed by ARCM consistently exhibits these qualities through their unwavering and skillful execution of the management of the assets in the CLOs. Services and Products The services offered by ARCM include but are not limited to the following:  Determination of collateral debt securities to be purchased or sold and the timing of such;  Determination of eligible investments to be purchased or sold and the timing of such; 5 | P a g e  Providing direction in connection with the purchase of collateral debt securities and eligible investments and directing the investment or reinvestment of applicable proceeds;  Negotiating with obligors related to collateral debt securities as to proposed modifications and/or waivers of the documentation governing such collateral debt securities;  Taking action, with the trustees where required, with respect to the issuer’s exercise of any rights;  Facilitating and fostering appropriate communication with the rating agencies, where requested and required;  Determination of the status of assets and collateral debt securities (i.e. defaulted, credit risk, etc.);  Determination as to whether to recommend that any defaulted assets, and any other assets that are permitted or required to be sold pursuant to governing documents, should be sold, and to recommend that the client effect a disposition of any such assets, subject to, and in accordance with the governing documents;  Recommending actions with respect to the client’s exercise of any rights or remedies in connection with assets and investments, or taking any action with respect to said assets and investments that is determined, in accordance with the standards evidenced in the governing documents, is in the best interest of the client in accordance with and as permitted by the governing documents;  Periodically reporting to the investors;  Monitoring assets on an on-going basis; and,  Managing the investments of the issuer in accordance with the applicable documents; As of December 31, 2022, ARCM has $8,619,210,000 in client assets under management on behalf of its existing clients, the CLOs, all of which is managed on a discretionary basis. All collateralized loan obligations with an established agreement with ARCM have equal access to the services provided by ARCM, and ARCM applies said services in a uniform manner. However, ARCM delivers such services with an understanding of the individual needs of each CLO and tailors its application appropriately.