Bluerock Homes Trust, Inc.

Organization Bluerock Homes Trust, Inc. ( Bluerock Homes, the Company, we, us, or our ) was incorporated on December 16, 2021 under the laws of the state of Maryland. We have elected to be taxed and currently qualify as a real estate investment trust ( REIT ) for federal income tax purposes beginning with our taxable year ended December 31, 2022. As a REIT, we generally are not subject to corporate-level income taxes. In order to maintain our REIT status, we are required, among other requirements, to distribute annually at least 90% of our REIT taxable income, as defined by the Internal Revenue Code of 1986, as amended (the Code ), to our stockholders. If we fail to maintain our qualification as a REIT in any taxable year, we would be subject to federal income tax on our taxable income at regular corporate tax rates and we would not be permitted to qualify as a REIT for four years following the year in which we lost our qualification. We intend to continue to organize and operate in such a manner as to remain qualified as a REIT. Unless otherwise indicated or the context requires otherwise, all references to the Company, we, us and our mean Bluerock Homes Trust, Inc., a Maryland corporation, together with its consolidated subsidiaries, including, without limitation, Bluerock Residential Holdings, L.P., a Delaware limited partnership (our Operating Partnership ), of which we are the sole general partner.