Company: INRE
Filing Date: 2025-03-11
Form Type: SC 14D9
Source: 0001193125-25-051923
Chunk: 4

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-03-11
Form: SC 14D9
Chunk 4
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 the Company. As part of this review, the Company, through the financial advisor, commenced an outreach to entities viewed as potential purchasers seeking offers |

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| for the entire Company. As of the date of this Schedule 14D-9, this process is continuing. The board believes that stockholders may be better served by                                                                                          
 waiting for the board to complete the strategic review. Stockholders that sell their Common Stock to the Offeror will no longer receive distributions or participate in any liquidity event that may result from the board’s review of strategic 
 alternatives on the shares that are sold. The board acknowledges, that neither a sale, merger or other transaction creating a liquidity event nor the price or value that may result from any such event is assured.                             |

| • |     | The Offeror states that “no independent person has been retained to evaluate or render any opinion with                                           
 respect to the fairness of the Offer Price and no representation is made by the Purchaser or any affiliate of the Purchaser as to such fairness.” |

| • |     | The Offeror states that it is “making the offer for investment purposes and with the intention of making a 
 profit from the ownership of the shares” it buys from stockholders.                                        |

| • |     | The Offeror states that it is “motivated to establish the lowest price which might be acceptable to 
 stockholders consistent with the Offeror’s objectives.”                                             |

| • |     | Individual stockholders selling shares pursuant to the Offer will no longer own, or have any rights related to, 
 the shares sold to the Offeror including any right to any quarterly distributions that are declared.            |

| • |     | If more than 1,025,000 shares of Common Stock are validly tendered in the Offer and not withdrawn, the Offeror 
 will only accept shares of Common Stock from tendering stockholders on a pro rata basis.                       |

| • |     | The Offeror expressly reserves the right, in its sole discretion, to amend the terms of the Offer in any respect,                                                                                                                                     
 which could include by increasing or decreasing the Offer Price or by changing the number of shares being sought or the type of consideration, at any time before the Offer expires. Although any amendment must be followed by a public announcement 
 that conforms with applicable law, the Offeror does not necessarily have an obligation to otherwise publish, advertise or communicate the public announcement.                                                                                        |

For the above reasons, the board unanimously concluded that the Offer is not in the best