Private Placement (Form 8-K)

Item 3.02 Unregistered Sales of Equity Securities.

Class ER-I and Class ER-D Common Shares

ExchangeRight Income Fund, doing business as ExchangeRight Essential Income REIT (the "Company"), is currently conducting a private placement offering on a continuous basis of up to $2.165 billion of common shares of beneficial interest ("Common Shares") pursuant to which the Company is offering its Class I Common Shares, Class A Common Shares, Class S Common Shares, Class D Common Shares, Class ER-I Common Shares, Class ER-A Common Shares, Class ER-S Common Shares, and Class ER-D Common Shares (the "Private Offering"). On April 1, 2026, the Company sold an aggregate of 15,586 of its Class ER-I Common Shares and 3,277 of its Class ER-D Common Shares under the Private Offering, based on the price per share as of the date of issuance of each respective Class ER-I Common Share and Class ER-D Common Share. The Company is offering the Class ER-I Common Shares and Class ER-D Common Shares in this offering in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof and Rule 506(c) of Regulation D promulgated thereunder.

The following table details the shares sold: