Bluerock Residential Growth REIT, Inc.

Notes/Supplemental Information: 
Series B Preferred Stock is a non-tradable security sold in bi-monthly closings, each closing has a separate CUSIP number and pays a monthly dividend. The CUSIP #s for the Series B Preferred Stock are:

(CUSIP #'s 09627J805, 09627J870, 09627J862, 09627J854, 09627J847, 09627J839, 09627J821, 09627J813, 09627J797, 09627J789, 09627J771, 09627J763, 09627J755, 09627J730, 09627J722, 09627J714, 09627J698, 09627J680, 09627J672, 09627J664, 

09627J649, 09627J631, 09627J623, 09627J615, 09627J599, 09627J581, 09627J573, 09627J565, 09627J557, 09627J540, 09627J532, 09627J524, 09627P207, 09627P306, 09627P405, 09627P504, 09627P603, 09627P702, 09627P801, 09627P884, 09627P876, 09627P868, 09627P850, 09627P843, 

09627P835, 09627P827, 09627P819, 09627P793, 09627P785, 09627P777, 09627P769, 09627P751, 09627P744, 09627P736, 09627P728, 09627P710, 09627P694, 09627P686, 09627P678, 09627P660, 09627P652, 09627P645, 09627P637, 09627P629, 09627P611, 09627P595, 09627P587, 09627P579, 

09627U206, 09627U305, 09627U404, 09627U503, 09627U602, 09627U701, 09627U800, 09627U883, 09627U875, 09627U867, 09627U859, 09627U842, 09627U834, 09627U826, 09627U818, 09627U792, 09627U784, 09627U776, 09627U768, 09627U750, 09627U743(1), 09627U735(1), 09627U727(1), 09627U719(1))

(1) Dividend amount shown is for the full month in which the record date occurs.  Certain shares issued during the month received a pro-rated dividend amount that is less than the dividend amount shown.  The classification for federal income taxes remains the same.

This spreadsheet and the accompanying instructions do not constitute, and should not be considered a substitute for, legal advice. The rules governing the proper tax characterization of distributions by REITs can be complex. Each REIT should consult its own tax advisor regarding the proper tax characterization and reporting of the REIT’s distributions.