Alexanders Inc (ALX) May 21, 2026 Annual General Meeting Transcript

With the meeting, please come to order. Good morning, ladies and gentlemen. I am Stephen Roth, Chairman of the Board of Directors of Alexander's, Inc. On behalf of the directors and officers of Alexander's, I am pleased to welcome all of you to our 55th annual stockholders meeting as a public company. This year, we are, again, using a virtual meeting format with audio on it. A virtual meeting format accessible to all of our stockholders, regardless of physical location, allows you to participate in the meeting, submit questions and comments, and vote your chairs online prior to the closing of the polls. I am joined on the audit audio webcast by Gary Hansen. Good morning, Gary. Our Chief Financial Officer, Michael Franco, our Senior Vice President, and Stephen Bornstein, our Corporate Secretary, who will serve as Secretary of the Meeting. My fellow board members are participating in the meeting via audio webcast. Representatives for our independent registered public accounting firm, Deloitte and Touche LLP, are also on the webcast. As chair of the meeting, I have adopted an agenda that will govern the order of the business and the rules of conduct for the meeting. Copies of the agenda and the rules of conduct are available on the virtual meeting site. Rules of conduct also govern the Q&A session. Mr. Secretary, was the notice of meeting duly mailed?

Thank you, Mr. Roth. Joanne Vogel of Broadridge Financial Solutions, Inc. has certified that Broadridge distributed the notice of meeting and that it was properly mailed. A copy of the affidavit of mailing is in my possession. I therefore declare that notice of the meeting has been duly given. Thank you.

This document will be identified as having been presented at the meeting. Mr. Secretary, would you please advise us of the number of shares, the holders of which are represented at this meeting?

Mr. Roth, as of the record date, the close of business on March 23, 2026, there were 5,107,290 shares of common stock outstanding and entitled to vote at this meeting. Based on last night's voting total, there are represented at this meeting the holders of not less than 4,750,166 shares, or approximately 93% of the shares of the company entitled to vote at the meeting.

Ready for business. Mr. Petter has been appointed as inspector of election of this meeting. I have before me his signed oath to execute impartially. I would like to present the agenda for the meeting. Three, class two, second, we will submit for stockholder approval to company's 2026 omnibus share plan. For stockholder consideration, a non-binding advisory resolution on executive compensation paid to certain named executive officers. For the ratification by stockholders, the appointment of Deloitte, and to these independent registered public accounting firms.

In the question and discussion part of this meeting, Alexander's representatives may make statements that constitute forward-looking statements. These are statements other than historical events or statements of current condition and relate to future events, such as the prospects of our business or a particular property or strategy. Forward-looking statements are not historical facts, but instead represent only our best judgment regarding future events, many of which, by their nature, are inherently uncertain and outside our control. It is possible that Alexander's actual results may differ materially from the results indicated in the forward-looking statement. For a discussion of some of the factors that could affect Alexander's future results, see our annual report on Form 10-K for the fiscal year ended December 31, 2025, and our quarterly report on Form 10-Q for the quarter ended March 31, 2026. Additionally, Alexander's representatives may make reference to certain non-GAAP financial measures. You can find the presentation of the most directly comparable financial measures calculated in accordance with GAAP and a quantitative reconciliation of the non-GAAP and GAAP financial measures in our 2025 Annual Report on Form 10-K for the fiscal year ended December 31, 2025, or a quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2026. These are posted on our website at www.alx-inc.com. We also ask that when you ask questions, you bear in mind that our responses may be limited in consideration of the requirements of the Securities and Exchange Commission's Regulation, SD.

We will now turn to the nomination for election of three Class II directors, each to serve for term three years after successors are duly elected and qualified. The nominees are Thomas R. DiBenedetto, Mandy Puri, and Russell B. White, Jr. To serve as Class II Directors of Alexander's, Inc. until the annual meeting of stockholders in 2029 and until their respective successors are duly elected. Additional nominations having been given pursuant to Alexander's bylaws, the nominations are closed. The other items on the agenda are the approval of the company's 2026 omnibus share plan, the approval of a non-binding advisory vote on executive compensation to be paid to certain named executive officers as set forth in our proxy statement for this annual meeting and the submission for the ratification of the selection of Deloitte, the company's independent registered public accounting firm for the company.

The polls are now open and will remain open until the conclusion of the question and discussion period. If you previously authorized a proxy to vote your shares and do not wish to change your vote, your vote will be cast as you previously instructed, and no further action is needed. If you are a record holder and wish to change your vote, or if you have not yet voted using our electronic voting system or by sending in a proxy card, you may cast your vote via electronic ballot at ProxyVote.com. If you are participating in this meeting via webcast, you'll notice a link to the voting site, ProxyVote.com, on the bottom right-hand side of your screen. In order to access ProxyVote.com, you will need your control number received with your proxy materials prior to this meeting. If you received your proxy materials by postal mail, the control number can be found next to the label. If you received your proxy materials by email, the control number is included in that email. If you do not indicate the number of shares you intend to vote on your electronic ballot, your electronic ballot will automatically represent a vote in respect of all shares that you entitled to vote at this meeting.

I entertain questions and comments while voting is being completed. Please note, you may submit questions at any time prior to the end of the question and comment session. In this question and comment session, we will do our best to answer as many questions as we can.

Mr. Roth, there are no questions at this time.

Let's give it another moment.

We're now closed. The results are as follows. First, each of the nominees for election as director has received at least the plurality of all the votes cast on the matter. Accordingly, each of the nominees has been duly elected as director of Alexander Zink to serve until the annual meeting of stockholders in 2029, and until his or her successor is duly elected and qualified. Second, the company's 2026 omnibus share plan has been approved. Third, the non-binding advisory resolution on executive compensation has been approved. ratification of the selection of Deloitte & Touche LLP as the company's independent registered public accounting firm with regard to the current fiscal year has been approved. Final tabulations will be reported on a current report on Form 8K within four business days. No notice of any additional business having been given pursuant to the Alexandria's bylaws. Is there a motion to adjourn?

I, Michael Franco, move that this meeting be adjourned.

I, Gary Hanson, second the motion.

Thank you both.

This concludes today's annual meeting. You may now disconnect.