STRATUS PROPERTIES INC. ANNOUNCES INITIAL LIQUIDATING DISTRIBUTION OF $5.00 PER SHARE TO STOCKHOLDERS AND INTENTION TO VOLUNTARILY DELIST FROM NASDAQ AND DEREGISTER WITH SEC[...]

STRATUS PROPERTIES INC. ANNOUNCES INITIAL LIQUIDATING DISTRIBUTION

OF $5.00 PER SHARE TO STOCKHOLDERS AND INTENTION TO

VOLUNTARILY DELIST FROM NASDAQ AND DEREGISTER WITH SEC

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AUSTIN, TX, July 1, 2026 - Stratus Properties Inc. (NASDAQ: STRS) ("Stratus" or the "Company") today announced that, in connection with the Company's plan of complete liquidation and dissolution (the "Plan of Liquidation"), its Board of Directors (the "Board") has declared an initial liquidating distribution, in the form of a special cash dividend, of $5.00 per share on Stratus' common stock, payable on July 20, 2026 to stockholders of record as of July 13, 2026. The Board also has unanimously approved the voluntary delisting of the Company's common stock from The Nasdaq Stock Market ("Nasdaq") and the subsequent voluntary deregistration of its common stock with the U.S. Securities and Exchange Commission ("SEC") in order to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

William H. Armstrong III, Chairman of the Board and Chief Executive Officer of Stratus, said, "We are pleased to begin returning cash to stockholders through this initial liquidating distribution, following their approval of the Plan of Liquidation."

Mr. Armstrong continued, "After careful consideration, the Board also determined that the voluntary delisting and deregistration of Stratus' common stock is in the best interests of Stratus and its stockholders as we continue to implement the Plan of Liquidation. We believe this action is a prudent step that will allow Stratus to reduce public company costs and focus its resources on managing its remaining assets and obligations in a manner designed to preserve value for stockholders and position the Company to make additional distributions when appropriate."

The initial liquidating distribution is being made in accordance with the Plan of Liquidation, which was previously approved by the Board and Stratus' stockholders. Stratus expects to make additional liquidating distributions to stockholders in connection with the Plan of Liquidation, subject to, among other factors, the timing and amount of proceeds realized from asset sales, the amount of liabilities and expenses ultimately incurred, tax matters, litigation and other contingencies, and the size and duration of any contingency reserve. Stratus cannot predict the timing or amount of any future liquidating distributions.

Stratus notified Nasdaq today of its intention to voluntarily delist its common stock from Nasdaq. In connection with the contemplated delisting, Stratus intends to file a Form 25 with the SEC on or about July 31, 2026. The delisting from Nasdaq is expected to become effective on or about August 10, 2026, 10 days after the filing of the Form 25. Stratus also requested that trading of its common stock on Nasdaq be suspended before the market opens on August 10, 2026. Stratus has not arranged, and does not currently intend to arrange, for listing of its common stock on another national securities exchange or for quotation of its common stock in any quotation medium following delisting from Nasdaq, although the common stock may be quoted or traded in the over-the-counter market if broker-dealers make a market in the common stock.

Following the effectiveness of the delisting, Stratus intends to file a Form 15 with the SEC to deregister Stratus' common stock under Section 12(g) of the Exchange Act and suspend its reporting obligations under Sections 13 and 15(d) of the Exchange Act.

Stratus' Board considered a number of factors in determining to delist and deregister its common stock, including the costs and expenses associated with being a publicly traded company, the auditing, legal and other costs associated with continuing to make SEC filings, and the burdens placed on Stratus' management to comply with continued listing and SEC reporting requirements, all in light of Stratus' planned dissolution and liquidation.

About Stratus

On June 1, 2026, Stratus' stockholders approved the Plan of Liquidation. Prior to the approval of the Plan of Liquidation, Stratus was engaged primarily in the entitlement, development, management, leasing and sale of multi-family and single-family residential and commercial real estate properties in the Austin, Texas area and other select markets in Texas. In addition to its developed properties, Stratus has a development portfolio that consists of approximately 1,500 acres of commercial and residential projects under development or undeveloped land held for future use. Stratus' commercial real estate portfolio consists of future retail and mixed-use development projects with no commercial office space. Stratus generates revenues and cash flows from the sale of its developed and undeveloped properties, the lease of its retail, mixed-use and multi-family properties and development and asset management fees received from its properties.