Star Holdings — Third Quarter 2026 Earnings Summary

Financial Performance

• Net loss attributable to common shareholders was $45.1 million for the third quarter of 2026.
• Loss per share was $3.74.
• The reported loss included a non-cash mark-to-market adjustment of $53.1 million related to the investment in approximately 13.5 million shares of SAFE, which reduced earnings per share by $4.40.
• The Company sold its portfolio of municipal debt securities for $50.2 million, realizing a gain of $4.5 million.
• The Company sold a land parcel in Coney Island for $20.0 million, recognizing a profit of $4.7 million.
• The outstanding balance on the margin loan facility was voluntarily reduced from $94.5 million to $46.5 million.

Business Segments and Product Lines

• The portfolio primarily consists of interests in the Asbury Park Waterfront and the Magnolia Green residential development projects.
• The portfolio includes other commercial real estate properties and loans that are for sale or planned to be monetized.
• Star Holdings holds shares of Safehold Inc. (NYSE: SAFE).
• The Company's strategy focuses on realizing shareholder value through active asset management and asset sales to maximize cash flows.

Other Key Points

• The Company filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, with the SEC.
• Full details regarding results of operations, assets, and activities are available on the Company's website (www.starholdingsco.com) and the SEC website (www.sec.gov).