
Property/Description	Monthly Payment		Interest Rate	Maturity	June 30, 2026		December 31, 2025
Variable-rate:
August 2025 Cedar Credit Facility	Interest only		n/a	August 2027	$	—	$	—
April 2025 Cedar Bridge Loan	Interest only		4.9%	February 2028	5,966		5,966
Fixed-rate:
Tuckernuck	$	32,202	5.0%	March 2026	—		4,460
Timpany Plaza	$	79,858	7.3%	September 2028	11,354		11,415
Village of Martinsville	$	89,664	4.3%	July 2029	13,608		13,849
Laburnum Square	$	37,842	4.3%	September 2029	7,433		7,499
Rivergate (1)	$	100,222	4.3%	September 2031	16,356		16,605
Convertible Notes	Interest only		7.0%	December 2031	29,353		29,353
June 2022 Term Loan (2)	Interest only		4.3%	July 2032	66,331		72,030
JANAF	Interest only		5.3%	July 2032	60,000		60,000
October 2022 Cedar Term Loan	Interest only		5.3%	November 2032	100,441		100,441
Patuxent Crossing/Coliseum Marketplace	Interest only		6.4%	January 2033	25,000		25,000
May 2023 Term Loan 1	$	373,981	6.2%	June 2033	60,376		60,744
May 2023 Term Loan 2	Interest only		6.2%	June 2033	53,070		53,070
June 2024 Term Loan	Interest only		6.8%	July 2034	22,409		22,409
Total Principal Balance					471,697		482,841
Unamortized deferred financing cost					(13,588)		(14,684)


Total Loans Payable, net					$	458,109	$	468,157

For the six months ended June 30, 2026, the Company made principal payments in the aggregate amount of $5.7 million on the loan made pursuant to the term loan agreement entered into on June 17, 2022 with Guggenheim Real Estate, LLC (the “June 2022 Term Loan”) using proceeds from the sales of Moncks Corner, Ridgeland, an outparcel at St. George Plaza, Darien Shopping Center, Surrey Plaza and Georgetown. See Note 3 for additional details. The Company paid loan prepayment premiums in the aggregate amount of $0.1 million in connection with the June 2022 Term Loan paydowns.

On August 15, 2025, Cedar entered into a credit facility agreement with KeyBank National Association to draw up to $20.0 million (the "August 2025 Cedar Credit Facility") pursuant to which a loan advance may be made no more frequently than once per calendar month. The interest rate under the August 2025 Cedar Credit Facility for each draw is at the Company's option of either a base rate, daily simple SOFR or term SOFR, plus an applicable margin. Interest payments are due monthly, and any outstanding principal is due at maturity on August 15, 2027. The total outstanding principal under the August 2025 Credit Facility must be reduced to no greater than $10.0 million by February 15, 2027. The August 2025 Cedar Credit Facility was collateralized by three properties, consisting of Carll's Corner, Fieldstone Marketplace and South Philadelphia Parcels, and is guaranteed by Cedar and WHLR. Upon the 2025 dispositions of a South Philadelphia land parcel, Carll's Corner and Fieldstone Marketplace, they were each released from collateral and the Company paid down approximately $10.3 million of the August 2025 Cedar Credit Facility. Although the August 2025 Cedar Credit Facility provides for total borrowings of up to

$20.0 million, the Company did not have access to the full commitment as of June 30, 2026. Availability under the facility is subject to certain covenants and conditions established at origination, including requirements tied to projected asset sales and projected net sales proceeds.


For the remaining six months ending December 31, 2026	$	1,005
December 31, 2027	2,915
December 31, 2028	23,080
December 31, 2029	25,482
December 31, 2030	6,665
December 31, 2031	49,596
Thereafter	362,954
Total principal repayments and debt maturities	$	471,697

As of June 30, 2026, the conversion price for the Convertible Notes was approximately $13.86 per share of the Company’s Common Stock (approximately 1.80 shares of Common Stock for each $25.00 of principal amount of the Convertible Notes being converted).


For the Six Months Ended June 30,	Series B Preferred Stock number of shares (1)	Series D Preferred Stock number of shares (1)	Convertible Note interest at 7% coupon		Fair value adjustment		Interest expense
2026	—	49,618	$	1,027	$	759	$	1,786
2025	—	58,118	$	1,080	$	926	$	2,006
(1) Shares issued as interest payment on Convertible Notes.

During the three and six months ended June 30, 2025, the Company issued an aggregate of 536,477 shares of its Common Stock, having an aggregate fair value of $2.4 million, to settle conversion requests of the holders of the Convertible Notes comprising an aggregate principal amount of $1.5 million, which resulted in an aggregate net loss on conversion of Convertible Notes of $0.9 million.

The fair value of the Company’s fixed rate secured term loans was estimated using available market information and discounted cash flow analyses based on borrowing rates the Company believes it could obtain with similar terms and maturities, which are Level 3 inputs. As of June 30, 2026 and December 31, 2025, the fair value of the Company’s fixed rate secured term loans, which were determined to be Level 3 within the fair value hierarchy, was $426.5 million and $445.5 million, respectively, and the carrying value of such loans, was $426.3 million and $436.7 million, respectively. As of June 30, 2026, the fair value of the Company’s variable-rate loans approximated their carrying value.