GENERATION INCOME PROPERTIES, INC.

Generation Income Properties, Inc. converted $120,000 of outstanding debt owed by its operating partnership to the David E. Sobelman Revocable Trust into 162,163 shares of common stock. The conversion was completed at a price of $0.74 per share. This action, combined with a prior preferred equity amendment, is expected to bring the company's stockholders' equity above $5 million, addressing Nasdaq's ongoing compliance monitoring.

Generation Income Properties, through its indirect wholly owned subsidiary GIPCA 991 Nut Tree Road, LLC, completed the sale of its net lease property located at 991 Nut Tree Road, Vacaville, California. The property was sold to Taricens Medical Estates LLC for a purchase price of $2,475,000, resulting in net proceeds of approximately $2,356,757 to the Company after closing costs. The property is occupied by the United States of America.

Generation Income Properties, Inc. completed its previously announced 1-for-10 reverse stock split on July 9, 2026, to increase its stock's bid price and maintain Nasdaq listing compliance. The split reduced the number of outstanding shares from approximately 10.3 million to 1.03 million, with trading on a split-adjusted basis commencing July 10, 2026. All outstanding warrants were proportionally adjusted, with the exercise price increasing from $10.00 to $100.00 per share, and fractional shares were rounded up.

Generation Income Properties, Inc. announced the pricing of a public offering of approximately $5.0 million of common stock and warrants. The offering, priced at $0.21 per share and accompanying warrant, is expected to generate net proceeds of $4.4 million. These funds will be used to redeem preferred equity in a subsidiary and for general corporate purposes. Maxim Group LLC served as the placement agent, and company insiders have agreed to a 90-day lock-up period.

GENERATION INCOME PROPERTIES, INC. filed an S-11 registration statement for a public offering of up to 13,392,857 shares of common stock and accompanying common warrants, along with up to 13,392,857 pre-funded warrants. The offering, priced at an assumed $0.56 per share, aims to improve the company's balance sheet and liquidity, supporting a near-term strategy to sell up to 23 properties. The company also announced recent debt reductions, refinancings, and changes to its Board of Directors, while addressing a Nasdaq listing compliance issue.

Generation Income Properties, Inc. completed the sale of its Starbucks-occupied net lease retail property in Tampa, Florida, for $2,964,000, resulting in net proceeds of $1,959,170. The divestment, effective May 22, 2026, is reflected in unaudited pro forma financial statements, which show adjustments to revenues, expenses, and real estate assets, leading to a slight increase in pro forma net loss attributable to the company.

Generation Income Properties completed the disposition of a Dollar Tree-occupied retail property in Morrow, Georgia, on April 17, 2026, for a purchase price of $1,458,000, yielding net proceeds of $639,152. The company filed unaudited pro forma financial statements reflecting this sale, showing adjustments to its balance sheet and statements of operations. The pro forma adjustments indicate a reduction in assets and liabilities, and an improvement in operating and net loss for both the three months ended March 31, 2026, and the year ended December 31, 2025.

Generation Income Properties' indirect subsidiaries, LMB Auburn Hills I, LLC and LMB Lewiston, LLC, entered into a Commercial Business Loan Agreement with Hancock Whitney Bank for a $3,800,000 term loan. The loan, bearing a fixed interest rate of 5.70% per annum, will be repaid in monthly installments of $23,986.17, with the final payment due on May 1, 2031. The proceeds were utilized to refinance existing mortgage indebtedness on two properties, and the loan is secured by first priority mortgages on these properties.

Generation Income Properties reported a net loss of $(1.27) million for Q1 2026, an improvement from $(1.80) million in Q1 2025, while revenue decreased to $2.18 million from $2.38 million. Management expressed substantial doubt about the company's ability to continue as a going concern within the next year due to recurring losses and liquidity concerns. The company deconsolidated a Washington D.C. property in satisfaction of $600,000 debt and reclassified a Georgia property as held for sale for $1.46 million. Cash and cash equivalents significantly decreased to $289,468 from $6.16 million at year-end 2025.

Generation Income Properties, Inc. announced changes to its Board of Directors. On May 7, 2026, Benjamin Adams, Gena Cheng, and Patrick Quilty resigned from their positions, with their departures not attributed to any disagreements. Concurrently, the Board elected Jess Johnson, Timothy Murray, and Matthew Stein as new Directors, effective May 8, 2026. The new directors were also appointed to various board committees, with Johnson joining the Compensation and Governance Committees, Murray joining the Audit and Compensation Committees, and Stein joining the Audit and Governance Committees. The new directors bring diverse expertise in commercial real estate, finance, and capital markets.