Material Event (Form 8-K)

Item 8.01 Other Events.

April 2025 Dividends

On April 30. 2025, ExchangeRight Income Fund, doing business as ExchangeRight Essential Income REIT (the "Company"), declared dividends in the amount of $0.1449 per share for each class of its outstanding common shares of beneficial interest ("Common Shares"). The dividends for each class of Common Shares were payable to shareholders of record immediately following the close of business on April 30, 2025 and will be paid in cash or reinvested in the Company's Common Shares through the Company's Dividend Reinvestment and Direct Share Purchase Plan ("DRIP") on or around May 15, 2025.

Status of Private Offering

The Company is currently conducting a private placement offering on a continuous basis of up to $2.165 billion of Common Shares (the "Private Offering"). Pursuant to the Private Offering, the Company is offering its Class I, Class A, Class ER, and Class S Common Shares. As of April 30, 2025, the Company has issued an aggregate of 18,063,683 Common Shares in the Private Offering for total consideration of $492.9 million. Of these issued Common Shares, 5,695,009 Class I Common Shares, 9,943,482 Class A Common Shares, and 605,196 Class ER Common Shares remained outstanding as of April 30, 2025. The following table lists the Common Shares issued and total consideration received to date in the Private Offering for each class of Common Shares as of April 30, 2025:

Dividend Reinvestment and Direct Share Purchase Plan

For the April 30, 2025 declared dividends described above, holders of Common Shares and holders of Class I and Class A OP Units of the Operating Partnership have elected 11.1% of the aggregate declared dividends on Common Shares and distributions on Class I and Class A OP Units to be reinvested back into the Company's Common Shares based on elections by the individual shareholders and unitholders pursuant to the DRIP. These distributions will be reinvested in the Company's Common Shares on May 15, 2025.

The following table lists the Common Shares issued and total dividends reinvested under the DRIP from inception of the DRIP through April 30, 2025 for each class of Common Shares:

The DRIP generally permits shareholders of the Company to elect to have some or all of their cash dividends in respect of the shareholder's Common Shares to be automatically reinvested in additional Common Shares. Any cash dividends attributable to the class of Common Shares owned by participants in the DRIP will be reinvested in Common Shares on behalf of the participant on the business day such dividends would have been paid to such investor. In addition, holders of the Class I and Class A 721 OP Units and Class ER Common Shares may elect to reinvest their cash distributions into our Class I Common Shares.