Seritage Growth Properties announced that between April 23, 2024 and April 24, 2024, the Company has made voluntary prepayments aggregating $50 million toward its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Company of Nebraska (?Berkshire Hathaway?). With the prepayments, the Company has now repaid a total of $1.32 billion since December 2021 and $280 million of the term loan facility remains outstanding. The current prepayments will reduce Seritage?s total annual interest expense related to the term loan facility by approximately $3.5 million.

The cumulative repayments since December 2021 have reduced Seritage?s total annual interest expense related to the term loan facility by approximately $92.4 million.