On April 28, 2024, Whitestone REIT announced that it has mailed a letter to shareholders in connection with its 2024 Annual Meeting of Stockholders to be held on May 14, 2024 and urged shareholders to vote the white proxy card for all of its trustees standing for election. The Company stated that it has been undergoing a series of transformations since 2022, including at the Board and management level, to execute on its ?reset strategy.? Under the new leadership of Independent Chairman David Taylor, and CEO David Holeman, the Company?s Board and management team put in place a new reset strategy that is generating results as demonstrated by the Company?s recent performance.

The Company stated that its strong results were driven by the leadership?s focus on improving operating performance, the company?s balance sheet, corporate governance and transparency with investors and its communications with investors, as well as independent commentary and research from the market, have strongly validated that the actions the Company have taken and the strategy and plan it has in place are working. The Company added that it is committed to accelerating its efforts to deliver stronger profitability and long-term value for shareholders, but the Company is concerned as a new activist, Erez Asset Management, threatens to disrupt the Company progress, derail strategy, and destroy momentum to generate value for the shareholders. But the Company feel to explain its perspective to shareholders, to expose the inconsistent and incoherent strategy advocated by Erez, which is focused on disrupting the work that is continuing to take place to drive value and views it is imperative to set the record straight for shareholders as they decide on the future direction of the Company.