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Whitestone REIT Investor Presentation

26 CAPITAL MANAGEMENT & STRONG PERFORMANCE COVID-19 RESPONSE Our Business Discipline for a Downturn Ensured Capital Preservation & Improved Financial Flexibility BALANCE SHEET ACTIONS TAKEN OPERATIONAL PERFORMANCE RESULTS TO DATE Quarter • $50.0M Pending Acquisition Suspended • $30.0M Credit Facility Draw Down ⚫ $31.0M Dividend Reduction SHOPPING CENTER INDUSTRY LEADING RENTAL REVENUE COLLECTIONS (1) $30M COVID Borrowings Repaid by Year End 2020 $10M Additional Debt Reduction in 1Q21 Dividend Increased 2.4% WSR Peer Group Average 2Q20 81% 72% in February 2021 3Q20 90% 87% • +$1.0M Expense Reduction 4Q20 95% 93% 1Q20 95% 94% • $230.0M Development Pause WHITESTONE REIT INVESTOR PRESENTATION FIRST QUARTER 2021 W

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