Belpointe PREP, LLC 10-K

Item 1B. Unresolved Staff Comments. None. 40 Table of Contents Item 1C. Cybersecurity. Risk Management and Strategy We are externally managed by our Manager, and as such rely on our Manager to manage our day-to-day operations pursuant to our Management Agreement. Services provided under the Management Agreement are performed by individuals who are employees of members of the Sponsor Group. We, our Operating Companies, our Manager and the Sponsor Group are also party to a Services and Cost Sharing Agreement. Pursuant the Services and Cost Sharing Agreement members of the Sponsor Group provide our Manager with access to, among other things, the information technology (“IT”) systems necessary for the performance by our Manager of its duties under the Management Agreement. These IT systems include data hosting facilities and other hardware and software platforms, some of which are hosted by third-party service providers. The Sponsor Group’s IT systems, like those of most other companies, may be vulnerable to cybersecurity threats, including data breaches, cyberattacks, malware and computer viruses and interruption of services. The Sponsor Group takes a risk-based approach to cybersecurity and has implemented cybersecurity and IT risk management policies and procedures designed to address cybersecurity threats and incidents, including regularly assessing risks from cyber threats, monitoring IT systems for potential vulnerabilities, and testing IT systems according to its policies and practices. The Sponsor Group also uses a number of security tools and external service providers to monitor, test or otherwise assist with various aspects of its cybersecurity controls. As of the date of this Form 10-K, cybersecurity threats, including as a result of any previous cybersecurity incidents, have not materially affected us, our business strategy, results of operations, or financial condition. Governance Our Board is responsible for the oversight of our Manager, who, pursuant to the Management Agreement, is responsible for overseeing our risk management processes, including cybersecurity risks. Our Board recognizes the critical importance of maintaining effective cybersecurity measures and our Manager’s role in assessing and managing our material risks from cybersecurity threats. Our Manager provides our Board with timely updates both on a periodic basis and as new cybersecurity risks arise. Item 2. Properties. Our principal executive offices are located in a space owned by an affiliate of our Sponsor at 255 Glenville Road, Greenwich, Connecticut 06831. We consider these facilities to be suitable for the management of our business. For an overview of our investments in multifamily and mixed-use rental properties, refer to Part I, Item 1—Our Investments .