Kawa Capital Management Presses for Accountability and Board Transparency at Orion Properties

Firm Says Orion Is Using Technicalities to Avoid Shareholder Accountability

MIAMI–(BUSINESS WIRE)–Kawa Capital Management, Inc., on behalf of certain of its advised accounts (together, “Kawa”), today is issuing a statement in response to a November 26, 2025 letter from Orion Properties, Inc. (“Orion” or the “Company”) that questioned the validity of Kawa’s advance notice submissions for the nomination of five highly qualified director candidates at Orion’s 2026 Annual Meeting.

Kawa has responded to the Company making clear that Kawa fully complied with Orion’s Bylaws and further provided extensive, good-faith disclosures that exceed what the Bylaws or applicable law requires. As Orion’s largest shareholder, Kawa is disappointed that the Company has chosen to elevate hyper-technical objections over a straightforward opportunity for shareholders to evaluate the best path forward. The letter from Orion was aimed at distracting from the underlying issue: whether shareholders will be given a good-faith opportunity to exercise their fundamental right to vote on the Company’s strategic stewardship.

Kawa has expressed its willingness to engage constructively with the Company and its Board but remains fully committed to protecting its rights and the rights of all Orion stockholders.

“Our goal is simple,” stated Daniel Ades, CEO of Kawa, “we want Orion to achieve its full potential. Ensuring the stockholders have a meaningful opportunity to participate in Board elections is essential to restoring accountability and enhancing value for all shareholders.”

Kawa will continue to evaluate all available options to protect stockholders and hold the Company to standards of responsible corporate governance.

About Kawa Capital Management

Founded in 2007, Kawa is a leading alternative asset manager with $3.0 billion in AUM, spanning both public and private investment strategies. Across all our investment strategies, Kawa seeks to generate strong risk-adjusted returns while prioritizing capital preservation. Our approach centers on identifying asymmetric opportunities that offer a high margin of safety. Kawa achieves this by maintaining a healthy skepticism of consensus, adopting a contrarian mindset, and adhering to a disciplined patience when making investment decisions.

Contacts

Media Contact:

Stephanie Holzmann

Marketing Director

stephanie@kawa.com