Item 5.07 Submission of Matters to a Vote of Security Holders.

On February 3, 2023, Belpointe PREP, LLC (the "Company") held its annual meeting of unitholders (the "Annual Meeting"). As of December 8, 2022, the record date for the Annual Meeting, the Company had 3,454,449 Class A units, 100,000 Class B units and one Class M unit outstanding. Holders of the Company's Class A units and Class B units were entitled to one vote per unit on all matters submitted for approval of the unitholders at the Annual Meeting. The holder of the Company's Class M unit was entitled to that number of votes equal ten times the aggregate number of Class A units and Class B units outstanding on those matters which the Class M unit is entitled to vote.

At the Annual Meeting, the holders of the Company's Class A and Class B units voted together as a single class on two proposals, each of which is described in more detail in the Company's definitive proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on December 19, 2022. The holder of the Class M unit was not entitled to vote with respect to the election of Class I directors. Unitholders approved each of the proposals presented for a vote. The tables below set forth the number of votes cast for and against or withheld, and the number of abstentions or broker non-votes, for each matter voted upon by the Company's unitholders.

1. The individuals below were elected at the Annual Meeting to serve as Class I directors of the Company until the 2025 annual meeting of the unitholders or until their respective successors are duly elected or appointed and qualified or until their earlier resignation, removal, incapacity or death.





Director Nominee      For     Against   Abstain   Broker Non-Votes
Timothy Oberweger   279,450   403,131    3,574       1,183,331
   Shawn Orser      277,475   405,106    3,574       1,183,331

2. The ratification of the appointment of Citrin Cooperman & Company, LLP, as the Company's independent registered public accounting firm for the fiscal year ended December 31, 2022. There were no broker non-votes on this proposal.





   For      Against   Abstain
1,731,250   26,611    11,625

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