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

On September 16, 2025, Wheeler Real Estate Investment Trust, Inc. (the “Company”) agreed to issue 253,000 shares of its common stock, $0.01 par value per share (the “Common Stock”) in the aggregate to two unaffiliated holders of the Company’s securities (together, the “Investors”) in separate exchanges for 11,000 shares of the Company’s Series D Cumulative Convertible Preferred Stock (the “Series D Preferred Stock”) and 22,000 shares of the Company's Series B Convertible Preferred Stock (the “Series B Preferred Stock” and, together with the Series D Preferred Stock, the “Preferred Stock”) in the aggregate.

Charter Amendments for One-for-Five Reverse Stock Split On September 17, 2025, in connection with a one-for-five reverse stock split (the “ Reverse Stock Split ”) of the Common Stock of the Company, to be effective on September 22, 2025, the Company filed two Articles of Amendment to its charter with the State Department of Assessments and Taxation of Maryland that provide for: i. a one-for-five Reverse Stock Split of the Common Stock, to be effective at 5:00 p.m. Eastern Time (the “ Effective Time ”) on September 22, 2025 (the “ First Amendment ”); and ii. the par value of the Common Stock to be decreased from $0.05 per share (as a result of the one-for-five Reverse Stock Split) to $0.01 per share, to be effective at 5:01 p.m. Eastern Time on September 22, 2025 (the “ Second Amendment ”).