X0306 4 2023-02-14 0 0001903382 Bluerock Homes Trust, Inc. BHM 0001624012 Sanda Par Olof 501 N. BIRCH RD, UNIT 3 FORT LAUDERDALE FL 33304 0 0 1 0 0001953834 SAND CAPITAL ASSOCIATES LLC 501 N. BIRCH RD, UNIT 3 FORT LAUDERDALE FL 33304 0 0 1 0 Class A Common Stock, Par Value $0.01 per share 2023-02-14 4 P 0 1223 19.81 A 454484 I See footnotes Class A Common Stock, Par Value $0.01 per share 2023-02-15 4 P 0 7738 20.42 A 455707 I See footnotes Class A Common Stock, Par Value $0.01 per share 2023-02-16 4 P 0 104322 20.45 A 463445 I See footnotes Class A Common Stock, Par Value $0.01 per share 66120 D Represents the weighted average price of the shares purchased. The prices of the shares purchased pursuant to the transaction ranged from $19.80 to $19.81 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares purchased at each separate price. Represents the weighted average price of the shares purchased. The prices of the shares purchased pursuant to the transaction ranged from $19.80 to $20.55 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares purchased at each separate price. Represents the weighted average price of the shares purchased. The prices of the shares purchased pursuant to the transaction ranged from $20.35 to $20.50 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares purchased at each separate price. The Reporting Persons are jointly filing this Form 4 pursuant to Rule 16a-3(j) under the Exchange Act. Par Sanda is signing individually and as the Managing Member of Sand Capital Associates, LLC ("Sand Capital"). The shares of Class A common stock of Bluerock Homes Trust, Inc. ("BHM") reported in Table 1 Column 5 for the transaction dates occurring on 02/14/2023, 02/15/2023 and 02/16/2023 is held by Sand Capital. Par Sanda, as the Managing Member of Sand Capital, may be deemed to beneficially own such shares of Class A common stock of BHM held by Sand Capital. /s/ Par Sanda, Managing Member of Sand Capital Associates, LLC 2023-02-16 /s/ Par Sanda 2023-02-16