Announcement • Jul 11
Power REIT Announces Appointment of Brent Morrison as Independent Trustee, Effective July 6, 2026 Power REIT announced that the Board of Trustees appointed Brent Morrison to serve as an independent trustee of the Trust, effective July 6, 2026. Mr. Morrison will serve until the Trust's next annual meeting of shareholders and until his successor is duly elected and qualifies, or until his earlier resignation, retirement or removal in accordance with the Trust's governing documents. Mr. Morrison currently serves as Chairman of the Board, Chief Executive Officer and President of Regional Health Properties Inc., a publicly traded healthcare company. Mr. Morrison has significant experience leading small capitalization public companies, including public company governance, capital markets transactions, financial reporting, strategic planning and corporate finance. The Board believes that Mr. Morrison's executive leadership and public company experience will provide valuable perspective as the Trust continues to pursue its strategic objectives. The Board has determined that Mr. Morrison satisfies the applicable independence requirements of the NYSE American LLC Company Guide. New Risk • May 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 31% per year over the past 5 years. Market cap is less than US$10m (US$2.13m market cap). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Revenue is less than US$5m (US$2.0m revenue). Reported Earnings • May 18
First quarter 2026 earnings released: US$0.29 loss per share (vs US$0.47 loss in 1Q 2025) First quarter 2026 results: US$0.29 loss per share (improved from US$0.47 loss in 1Q 2025). Net loss: US$1.06m (loss narrowed 33% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. 
