Medalist Diversified REIT, Inc. Releases Update From Interim CEO and President - Seite 2

- Shift Towards Suburban Locations: The rise of remote work and suburban living has driven foot traffic to local stores and shops, benefiting retail property owners and landlords in these areas.

This resilience signals opportunities for MDRR to further our retail investments, capitalizing on emerging consumer behaviors and the adaptability of the retail sector.

Cost Efficiency & Alignment

The decision to terminate our external manager and eliminate other positions, thus saving nearly $1 million per year, was a key step in enhancing our financial position.

CEO Compensation

To signify my commitment to MDRR, I have agreed to forgo any compensation for my service as a director and executive officer of MDRR during the previously announced six-month suspension of dividends, which took effect on July 12, 2023.

Capital Financing Strategy & Equity Purchases

Our management and directors’ collective purchase of shares of MDRR’s common and preferred stock in August 2023 totaling approximately $564,000 is a substantial investment, underscoring our belief in MDRR's potential.

Focused Growth, Acquisitions, and Values

Our growth strategy emphasizes acquisitions that resonate with our newly adopted core values of Seamless Alignment and Value-Driven. We plan to forge a sustainable model that reflects our ambitions and respects the dynamic landscape.

Upcoming Engagement & Collaboration

Our upcoming annual meeting of shareholders on September 15, 2023 presents an essential platform for dialogue and collaboration. We highly value your insights.

Team Unity & Passion

Our team, unified and motivated, embodies our core values. Together, we're working to craft a transformative path forward.

Closing Thoughts & Regular Engagement

We are committed to providing regular updates to our shareholders. Your feedback and partnership drive our progress.

In closing, I want to express my gratitude for your continued trust and confidence in our shared journey.

Sincerely,

Francis P. Kavanaugh
Interim CEO and President, Medalist Diversified REIT, Inc.

About Medalist Diversified REIT

Medalist Diversified REIT Inc. is a Virginia-based real estate investment trust that specializes in acquiring, owning and managing value-add commercial real estate in the Mid-Atlantic and Southeast regions. The Company’s strategy is to focus on value-add and opportunistic commercial real estate which is expected to provide an attractive balance of risk and returns. The Company seeks to maximize operating performance of current properties by utilizing a hands-on approach to property management while monitoring the middle market real estate markets in the southeast for acquisition opportunities and disposal of properties as considered appropriate. For more information on Medalist, please visit the Company website at www.medalistreit.com.