Recent developments include the extension of the CEO agreement through 2026 and the reinstatement of distribution reinvestment and share repurchase programs. The company continues to evaluate strategic alternatives to enhance capital and liquidity.

• The company extended the CEO agreement through 2026, with Bernard Michael serving as president and CEO effective February 2, 2026. [N3]
• Distribution reinvestment and share repurchase programs were reinstated effective February 1, 2026, after suspension during a strategic review. [S1]
• The board continues to evaluate business plans and strategic alternatives aimed at increasing assets and cash flow accretively and enhancing capital and liquidity for stockholders. [S1]

The company’s portfolio concentration in grocery-anchored retail centers provides resilience through tenant necessity and stable occupancy. The external management by Inland affiliates offers operational expertise and potential efficiencies. The reinstatement of the distribution reinvestment and share repurchase programs may enhance stockholder liquidity options. Strategic reviews by the board could lead to accretive asset acquisitions or capital enhancements.

The company has incurred net losses in recent years, which may adversely affect financial condition and cash flow. There is no assurance that strategic reviews will result in liquidity events or capital increases. The company’s limited sources of capital constrain its ability to expand its asset base or fund share repurchases. The absence of an established trading market for its common stock limits stockholder liquidity. Competition from larger, better-capitalized real estate investors may pressure occupancy and rental rates.

The company's moat derives from its specialized focus on grocery-anchored retail properties, which tend to generate stable foot traffic and tenant demand due to the necessity-based nature of grocery stores. Its affiliation with Inland Real Estate Group provides access to experienced management and operational resources. However, the commercial real estate market is competitive, and the company faces competition from larger REITs and institutional investors with greater financial resources and lower cost of capital.

• Strategic Alternatives and Liquidity: The board’s review of strategic alternatives has not resulted in a liquidity event for stockholders, and there is no assurance that future reviews will lead to increased capital resources or liquidity events.
• Net Losses and Financial Condition: The company has incurred net losses on a GAAP basis for multiple years, which could materially impact its financial condition, operations, cash flow, and ability to pay distributions.
• Distribution Funding Sources: Distributions may be funded from sources other than cash flow from operations, including borrowings and asset sales, which could reduce funds available for acquisitions and dilute stockholder interests.
• Limited Capital Resources: The company has limited sources of capital, restricting its ability to increase assets or fund share repurchases, potentially impacting growth and liquidity.
• Market and Competitive Risks: The commercial real estate market is highly competitive, with competitors having greater financial resources and lower cost of capital, which may affect occupancy and rental rates.

• Inland Real Estate Income Trust, Inc. is a real estate investment trust (REIT) formed in 2011 and sponsored by Inland Real Estate Investment Corporation (IREIC), part of The Inland Real Estate Group of Companies, Inc. [S1]
• The company focuses on acquiring and managing a portfolio of commercial real estate investments in the United States, primarily grocery-anchored or grocery shadow-anchored retail shopping centers. [S1]
• As of December 31, 2025, the portfolio consisted of 52 retail properties totaling 7.2 million square feet, with grocery-anchored or shadow-anchored properties representing 87% of annualized base rent. [S1]
• The portfolio's occupancy was approximately 92% as of December 31, 2025. [S1]
• The company has no employees and is externally managed by IREIT Business Manager & Advisor, Inc., an indirect wholly owned subsidiary of its sponsor. Properties are managed by Inland Commercial Real Estate Services LLC, also an affiliate of the sponsor. [S1]
• The company elected REIT tax status starting with the 2013 tax year and distributes at least 90% of taxable income to stockholders to maintain this status. [S1]
• The company has a distribution reinvestment plan (DRP) and a share repurchase program (SRP), both reinstated effective February 1, 2026, after suspension during a strategic review. [S1]
• The board reviewed strategic alternatives including a potential sale but decided not to pursue a sale or liquidity event as of the latest disclosures. The board continues to evaluate business plans and strategies to increase assets and cash flow accretively and enhance capital and liquidity for stockholders. [S1]
• The company has incurred net losses on a GAAP basis for the years ended 2023, 2024, and 2025, with losses continuing to impact financial condition and cash flow. [S1]
• The company may pay distributions from sources other than cash flow from operations, including borrowings, asset sales, or proceeds from share sales under the DRP, which could dilute stockholder interests. [S1]
• As of September 30, 2026, the company reported cash and cash equivalents of $11.388 million and a net loss of $859,000 for the quarter, with basic and diluted EPS of -$0.02. [S2]
• As of September 30, 2026, the company’s net investment properties held and used were approximately $1.09 billion, down from $1.14 billion at December 31, 2025. [S2]
• Mortgages and credit facility payable net were $801.7 million as of September 30, 2026, down from $837.5 million at December 31, 2025. [S2]
• The company’s board extended the CEO agreement through 2026, with Bernard Michael elected as president and CEO effective February 2, 2026. [N3]
• There is no established trading market for the company’s common stock. The company reported an estimated per share net asset value (NAV) of $16.89 as of September 30, 2025, which is used for share purchases under the DRP and repurchases under the SRP. [S1]