Orion receives unsolicited indication of interest from Kawa Capital

Orion Properties confirmed its receipt today of a revised unsolicited, non-binding indication of interest from Kawa Capital Management to potentially acquire all of the outstanding shares of common stock of the Company not already owned by Kawa for cash consideration of $2.75 per share. Kawa previously submitted a proposal on June 20, 2025, to acquire the Company’s outstanding shares of common stock for cash consideration of $2.50 per share, and which the Orion Board of Directors rejected on July 9, 2025. As done with the initial Kawa indication of interest, and consistent with its fiduciary duties and in consultation with its independent legal and financial advisors, Orion’s Board of Directors will carefully review and evaluate Kawa’s revised indication of interest to determine the course of action that it believes is in the best interests of the Company and all Orion shareholders. Orion does not intend to comment further on Kawa’s revised indication of interest until the Board has completed its review. Orion shareholders do not need to take any action at this time.