Chris Mooney

Richard Diamond

- Stratus Properties Inc.'s subsidiary, The Saint June, L.P., amended its construction loan for The Saint June project, effective **September 30, 2025**, extending the maturity date to **October 2, 2027**.  **[885508_0000885508-25-000061_strs-20250930.htm:1]** **[885508_0000885508-25-000061_exhibit101amendmenttoloand.htm:4]** 
- The amendments include additional advances totaling approximately **$1.5 million** (consisting of **$534,023.11** and **$1,000,000.00**), increasing the outstanding principal balance to approximately **$32.9 million** and the aggregate commitment to **$33,320,000.00**, with no further funds available for advance.  **[885508_0000885508-25-000061_strs-20250930.htm:1]** **[885508_0000885508-25-000061_exhibit101amendmenttoloand.htm:3]** 
- The loan's applicable interest rate margin was decreased from 2.35% to **2.00%**, and monthly principal payments were eliminated, making the loan **interest-only** until maturity.  **[885508_0000885508-25-000061_strs-20250930.htm:1]** **[885508_0000885508-25-000061_exhibit101amendmenttoloand.htm:4]** **[885508_0000885508-25-000061_exhibit101amendmenttoloand.htm:3]** 
- A new **property-level minimum debt yield financial covenant** was introduced, requiring an **8.00%** debt yield by October 31, 2026, or a principal paydown.  **[885508_0000885508-25-000061_strs-20250930.htm:1]** **[885508_0000885508-25-000061_exhibit101amendmenttoloand.htm:4]** 
- Stratus, as guarantor, is required to open a money market deposit account with an initial balance of at least **$5,000,000.00**.  **[885508_0000885508-25-000061_exhibit101amendmenttoloand.htm:4]** **[885508_0000885508-25-000061_exhibit101amendmenttoloand.htm:5]**

STRATUS PROPERTIES (STRS)