Wheeler REIT issues ~2.1M common shares for preferred stock; note conversion price cut to $0.67

Wheeler Real Estate Investment Trust, Inc.

• Issued 2,119,707 common shares in exchange for 173,383 Series B and 13,217 Series D preferred shares in June/July 2026.
• Conversion price of 7% subordinated convertible notes due 2031 adjusted to ~$0.67/share, a 45% discount to $1.22.
• July 2026 Series D redemptions: 8,200 shares redeemed at ~$40.97/share, settled with 275,883 common shares.
• Cumulative Series D redemptions: 1,811,928 shares redeemed, ~464,000 common shares issued to date.
• As of July 6, 2026, common shares outstanding: 3,030,738; Series D outstanding: 1,789,240.