MDRR · Medalist Diversified REIT, Inc.

Medalist Diversified REIT, Inc. completed the disposition of the Shops at Franklin Square, a 134,239 square foot retail property in Gastonia, North Carolina, for a total sales price of $24.1 million. The transaction closed on March 30, 2026, pursuant to a Purchase and Sale Agreement entered into on February 3, 2026. The sale was conducted at arm's length with an unaffiliated purchaser, PC Acquisitions, LLC. A significant portion of the proceeds, totaling $12,954,175, was allocated to defease and retire the mortgage loan secured by the property, reducing the Company's debt obligations. The filing includes unaudited pro forma condensed consolidated financial statements reflecting this disposition, alongside the previously completed dispositions of the Greenbrier and Parkway properties. The pro forma balance sheet as of December 31, 2025, shows a reduction in investment properties net and mortgages payable, with a corresponding increase in pro forma cash to approximately $19.5 million. Separately, the Board of Directors declared a quarterly cash dividend of $0.0675 per share on the Company's common stock, payable on April 21, 2026, to shareholders of record as of April 15, 2026.