CONNECTING COMMUNITY AND CONVENIENCE EARNINGS PRESENTATION: Q2 2022 W WHITESTONE REIT IMPROVING METRICS ACROSS THE BOARD Strong Results Driven By A Consistent Strategy Revenue ($'s in millions) + 14.3% $34.9 $30.6 FFO Per Share + 4.2% $0.25 $0.24 Ratio of Debt to Pro Forma EBITDAre + 5.7% 8.3X 8.8X Same Store NOI ($'s in millions) + 7.9% $21.8 $20.2 Occupancy + 150 Basis Points 91.5% 89.9% Annual Net Effective Average Base Rent ("ABR") + 8.9% $21.72 $19.95 Q2 Leasing Spreads (Straight Line) New: 15.6% Renew ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 193 For the transition period from ____________ to ____________ Commission File Number 001-34855 WHITESTONE REIT (Exact Name of Registrant as Specified in Its Charter) Maryland 76-0594970 (State ...

Financial Data and Key Metrics Changes - Same store NOI growth was reported at 12.9% for Q1 2022, with total revenue increasing by 17.8% to $34.1 million compared to Q1 2021 [7][27] - FFO per diluted share increased to $0.30 from $0.20 in Q1 2021, representing a 50% growth [13][29] - Net income for the quarter was $0.14 per share, up from $0.03 per share in the prior year [28] Business Line Data and Key Metrics Changes - Occupancy levels increased to 91% from 88.7% year-over-year, reflecting a 230 basis point improvement [18] - Aggregate leasing spreads were positive at 10.1% for Q1 and 11.3% over the last 12 months, with new leasing spreads increasing by 12.7% [18] - Average base rent (ABR) rose to approximately $21 per square foot, a 7% increase from the previous year [20] Market Data and Key Metrics Changes - The company focuses on necessity-based community centers in high-growth Sunbelt markets, which continue to drive consumer traffic and tenant demand [8][14] - The tenant mix includes food services (33% of lease square footage), self-care (24%), and financial services (7%), indicating a diversified approach to meet community needs [22][24] Company Strategy and Development Direction - The company aims to maximize shareholder value through organic growth, prudent capital allocation, and reducing G&A expenses [8][9] - There is a commitment to disciplined growth, focusing on properties aligned with core strategies and evaluating potential acquisitions or developments [15][46] - The company is enhancing its governance practices, including the separation of the roles of Chairman and CEO [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2022 guidance, with expectations for best-in-class FFO per share growth [17] - The company anticipates occupancy levels to reach 92% to 93% by year-end, with same-store NOI growth projected between 3% to 5% [32][33] - Management noted the importance of localizing tenant offerings to meet community needs, particularly in response to the "Amazon effect" [21] Other Important Information - G&A expenses were reduced to $3 million for the quarter, with a commitment to lower annual G&A costs by approximately $2.5 million to $3 million compared to 2021 [29][33] - A quarterly dividend of $0.12 per share was approved, representing an 11.6% increase from the first quarter [31] Q&A Session Summary Question: Recovery of operating expenses and taxes - Management noted a one-time adjustment of $200,000 to $300,000, with strong recoveries expected due to increased occupancy [36] Question: Expectations for operating expense recoveries - Management expects recoveries to normalize in the mid-to-high eighties for the balance of the year [37] Question: Maturity of the $100 million term loan - Discussions with lending groups are ongoing, with expectations to recast the credit facility by the end of Q2 or early Q3 [38] Question: G&A adjustments related to executive departures - One-time adjustments of about $2.2 million were noted, with lower stock compensation expected going forward [41] Question: Focus on organic growth versus acquisitions - Management confirmed a focus on organic growth for 2022, with potential development opportunities planned for 2023 [46]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 001-34855 ______________________________ WHITESTONE REIT (Exact Name of R ...

Financial Data and Key Metrics Changes - Revenue growth of 11.5% for Q4 2021 compared to Q4 2020, totaling $33 million [7][30] - Full year revenue increased by 6.3% to $125.4 million from $117.9 million in 2020 [30] - Same-store net operating income rose by 12.8% year-over-year [7] - Full year FFO per diluted share grew by 4% to $0.86, with an adjusted growth of 8.9% excluding loan forgiveness from 2020 [31] Business Line Data and Key Metrics Changes - Same-store occupancy increased to 91.7% from 88.2%, a rise of 350 basis points [21] - Positive leasing spreads of 14.9% in Q4 and 8% for the full year [21] - New leasing spreads increased by 11.2% in Q4 and 6.1% for the full year [21] - Renewal leasing spreads increased by 15.7% in Q4 and 12.2% for the full year [21] Market Data and Key Metrics Changes - Focus on high-growth markets in the Sunbelt, including Houston, Dallas-Fort Worth, Austin, San Antonio, Phoenix, and Scottsdale [24] - Average base rent (ABR) increased by almost 8% in 2021, reaching over $21 per square foot [25] Company Strategy and Development Direction - Commitment to reduce general and administrative costs and align with corporate governance best practices [13][14] - Focus on maximizing shareholder value through leasing and organic growth rather than acquisitions in the first half of 2022 [15][18] - Evaluation of the entire portfolio to identify properties for monetization and reinvestment [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong leasing momentum and traffic in early 2022 [39] - Anticipation of continued strong cash collections and no significant tenant issues for 2022 [42] - Guidance for FFO per share expected to range from $0.98 to $1.02, representing a 14% to 19% increase from 2021 [34][35] Other Important Information - Total net debt at the end of 2021 was $636 million, improving the debt to gross book real estate cost ratio to 51% [32] - Quarterly dividend of $0.12 per share approved for Q2 2022, an increase of 11.6% from Q1 2022 [34] Q&A Session Summary Question: Is becoming a pure-play shopping center REIT a goal for Whitestone over time? - Management confirmed the intention to focus on community center properties and liquidate non-core assets [38] Question: How is the leasing momentum looking in Q1? - Management reported strong traffic and leasing activity, particularly in the health and wellness sector [39] Question: What is the breakdown of G&A cost reductions for 2022? - Expected one-time reductions of $500,000 and about $2 million in share-based compensation expense reductions [41] Question: Is the bad debt estimate conservative? - Management indicated that the 1.5% bad debt estimate may be conservative, with strong collections expected [42] Question: Are there any development or redevelopment plans? - Management confirmed ongoing opportunities for redevelopment and outparcels, with a focus on organic growth [44][46]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 193 For the transition period from ____________ to ____________ Commission File Number 001-34855 WHITESTONE REIT (Exact Name of Registrant as Specified in Its Charter) Maryland 76-0594970 (S ...

Whitestone REIT (NYSE:WSR) Q3 2021 Earnings Conference Call October 27, 2021 11:00 AM ET Company Participants Rebecca Elliott - VP, Corporate Communications James Mastandrea - Chairman and CEO David Holeman - CFO Conference Call Participants Craig Kucera - B. Riley Michael Diana - Maxim Group Aaron Hecht - JMP Securities Operator Greetings and welcome to the Whitestone REIT Third Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session wi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 193 For the transition period from ____________ to ____________ Commission File Number 001-34855 WHITESTONE REIT (Exact Name of Registrant as Specified in Its Charter) Maryland 76-0594970 (State ...

Whitestone REIT (NYSE:WSR) Q2 2021 Results Conference Call August 4, 2021 11:00 AM ET Company Participants Rebecca Elliott - Vice President Corporate Communications James Mastandrea - Chairman and Chief Executive Officer David Holeman - Chief Financial Officer Conference Call Participants Craig Kucera - B. Riley Securities Michael Diana - Maxim Group Operator Greetings, welcome to the Whitestone REIT Second Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A br ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ☐ 1934 For the transition period from ____________ to ____________ Commission File Number 001-34855 WHITESTONE REIT (Exact Name of Registrant as Specified in Its Charter) Maryland 76-0594970 (Stat ...