On July 27, 2012 James R. Wolford notified the company of his resignation from his position as a member of TNP Strategic Retail Trust, Inc.'s board of directors, effective July 27, 2012. Mr. Wolford's resignation from his position as a director was not the result of any disagreements between Mr. Wolford and the company on any matters relating to the company's operations, policies or practices. Mr. Wolford also notified the company of his resignation from his positions as the Chief Financial Officer, Treasurer and Secretary of the company and as the Chief Financial Officer, Treasurer and Secretary of the Advisor, effective immediately.

Mr. Wolford will continue to serve in his capacity as President and Chief Operating Officer of the company's sponsor, Thompson National Properties. On July 27, 2012, the board appointed Dee R. Balch as a director to fill the vacancy on the board created by the resignation of Mr. Wolford. The appointment of Ms. Balch was not made pursuant to any arrangement or understanding between Ms. Balch and any other person.

On July 27, 2012, the Board appointed Ms. Balch to serve as the Chief Financial Officer, Treasurer and Secretary of the company effective upon Mr. Wolford's resignation from those positions. Dee R. Balch, 48, is a Certified Public Accountant with more than 20 years of accounting, reporting and real estate experience.