1. Arbor priced $400 million of 8.50% Senior Notes due 2028. 2. Proceeds will refinance existing 7.75% and 5.00% Senior Notes. 3. Notes are senior, unsecured obligations, guaranteeing Arbor's backing. 4. The offering closes on December 16, 2025, pending conditions. 5. Arbor delivers diverse commercial real estate financing solutions.