Wheeler REIT executes 1-for-5 reverse stock split; exchanges preferred for common

Wheeler Real Estate Investment Trust, Inc.

Filed 1-for-5 reverse stock split effective Sept 22, 2025; post-split shares ~946,994.
Exchanged 253,000 common shares for 11,000 Series D and 22,000 Series B preferred (no cash).
Conversion rate on 7.00% sub notes due 2031 adjusted to ~5.09 shares per $25 principal.
Conversion price of Series B and Series D preferred increased proportionally per split.
Common stock begins trading on split-adjusted basis Sept 23 with new CUSIP 963025796.

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