X0306 4 2022-05-16 0001654595 Medalist Diversified REIT, Inc. MDRR 0001936172 ALF Operating Partners, Ltd. 2800 GOLDEN TRIANGLE BLVD. FORT WORTH TX 76177 0 0 1 0 0001936207 ALF Acquisitions Company, LLC 2800 GOLDEN TRIANGLE BLVD. FORT WORTH TX 76177 0 0 1 0 Common Stock 2022-05-16 4 P 0 2000 0.98 A 122000 D Common Stock 2022-05-20 4 P 0 3000 1.05 A 125000 D ALF Operating Partners, Ltd., a Texas limited partnership ("ALF Operating"), owns less than 10% of the outstanding common stock of the Issuer, but, pursuant to Rule 16a-1 under the Securities Exchange Act of 1934, as amended (the "Act"), it may be deemed to be a more than 10% beneficial owner of such stock because it may be deemed to be a member of a "group" pursuant to Section 13(d)(3) of the Act with ALF Operating's control person, Alfred Lee Finley ("Finley"), as described below. The combined holdings of ALF Operating and Finley exceed 10% of such outstanding stock. Finley is reporting transactions in shares of the common stock for his personal account in a separate Form 4 of even date herewith. Finley is the sole member and President of ALF Acquisitions Company, LLC, a Texas limited liability company ("ALF Genpar"), which is the sole general partner of ALF Operating. Pursuant to Section 13(d)(3) of the Act, ALF Genpar and Finley may each be deemed to be the indirect beneficial owner of shares of the common stock held by ALF Operating. /s/ Alfred Lee Finley, President of ALF Acquisitions Company, LLC, general partner of ALF Operating Partners, Ltd. 2022-07-01 /s/ Alfred Lee Finley, President of ALF Acquisitions Company, LLC 2022-07-01