On March 30, 2026, Terra Property Trust, Inc. successfully completed its previously disclosed exchange offers, allowing holders of its unsecured 6.00% Senior Notes due June 30, 2026, and unsecured 7.00% Senior Notes due March 31, 2026, issued by its subsidiary, Terra Income Fund 6, LLC, to exchange these for new 7.00% Senior Secured Notes due March 31, 2029. The exchange offers, which expired on March 26, 2026, were part of the company's strategy to enhance its financial flexibility and manage its debt obligations more effectively. The total principal amount of the new Exchange Notes issued was $25,578,000, reflecting the valid tenders of $24,027,025 of the Company Notes and $1,550,975 of the TIF6 Notes. The Exchange Notes are secured obligations of the company, providing a stronger position in terms of collateral and payment priority compared to existing unsecured debt. This move is expected to improve the company's liquidity and reduce refinancing risks, aligning with its long-term strategic goals. The company filed a registration statement on Form S-4 with the SEC on February 13, 2026, which was declared effective on March 26, 2026, detailing the terms of the exchange offers. The completion of these offers marks a significant step in Terra Property Trust's ongoing efforts to optimize its capital structure and support its operational strategies moving forward.

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