X0206 3 2012-10-17 1 0001045425 RAIT Financial Trust RAS 0001560568 ARS VI Investor I, LLC C/O RAIT FINANCIAL TRUST 2929 ARCH ST., 17TH FL. PHILADELPHIA PA 19104 0 0 0 1 See remarks below Pursuant to the Securities Purchase Agreement dated as of October 1, 2012 among the reporting person, the issuer, and certain subsidiaries of the issuer, the reporting person may designate a trustee on the issuer's board of trustees. The deputized trustee of the reporting person is Andrew M. Silberstein, who serves on the issuer's board of trustees as the reporting person's representative. /s/ Anders F. Laren, attorney-in-fact 2012-10-19