Company: INRE
Filing Date: 2025-12-09
Form Type: DEFA14A
Source: 0001193125-25-312909
Chunk: 1

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-12-09
Form: DEFA14A
Chunk 1
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 (the “Board”), including all the independent members of the Board, determined and established the estimated per share net asset value (“NAV”) of the Company’s common stock as of September 30, 2025 (the “Valuation Date”) of $16.89 per share. To assist the board in establishing the estimated per share NAV, the Company engaged SitusAMC Real Estate Valuation Services, LLC (“SitusAMC”) to appraise the Company’s real estate investments and to determine the fair value of the Company’s long-term indebtedness. SitusAMC provided its valuation analysis of the Company’s assets and liabilities to the board in a report presented on December 8, 2025 that contained, among other information, a range for the Company’s NAV of $15.76 to $18.02. The mid-point of the range of values provided by SitusAMC was $16.89. In addition to reviewing the Valuation Report, the Board met with representatives from SitusAMC and considered the material assumptions and valuation methodologies applied and described therein, as well as the business manager’s assumptions regarding portfolio valuation. Taking into consideration the conclusions contained in the Valuation Report, on December 8, 2025, the Board determined the Company’s total estimated NAV to be approximately $609.9 million, or $16.89 per share, based on a share count of approximately 36.1 million shares issued and outstanding as of the Valuation Date.This mid-point represented a decrease of $2.28 (or approximately 11.9%) compared to the last NAV published by the Company as of December 31, 2023. The Company believes that the decrease in the value of the real estate assets was largely attributable to an increase in the discount rates and terminal capitalization rates primarily because of higher market interest rates, greater capital expenditure assumptions and market uncertainty, including the effects of tariffs. The estimated per share NAV determined by the Board of $16.89 assumes a weighted average discount rate equal to 8.36% and a weighted average terminal capitalization rate of 7.47%, as compared to an average discount rate equal to 8.15% and a weighted average terminal capitalization rate of 7.30% for the Company’s last published NAV as of December 31, 2023.

Additionally, the Board has decided to reinstate the Company’s distribution reinvestment plan (the “DRP”), effective as of February 1, 2026. The purchase price