Income Opportunity Realty Investors : reports Earnings for Quarter Ended September 30, 2024 Form 8 K

About this update from Income Opportunity Realty Investors, Inc.

Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended September 30, 2024 DALLAS (November 7, 2024) - Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended September 30, 2024. For the three months ended September 30, 2024, we reported net income attributable to common shares of $1.2 million or $0.29 per diluted share compared to a net income of $1.6 million or $0.39 per share for the same period in 2023. Our decrease in net income is attributable to a decrease in interest income offset in part by a decrease in advisory fees. About Income Opportunity Realty Investors, Inc. Income Opportunity Realty Investors, Inc., a Dallas-based real estate investment company, currently holds a portfolio of notes receivable. The Company invests in real estate through direct equity ownership and partnerships. For more information, visit the Company's website at www.incomeopp-realty.com. INCOME OPPORTUNITY REALTY INVESTORS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except per share amounts) (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues: Other income $ - $ - $ - $ - Expenses: General and administrative 71 91 230 385 Advisory fee to related party 26 346 76 1,045 Total operating expenses 97 437 306 1,430 Net operating loss (97) (437) (306) (1,430) Interest income from related parties 1,614 2,516 4,785 7,160 Income tax provision (319) (436) (941) (1,203) Net income $ 1,198 $ 1,643 $ 3,538 $ 4,527 Earnings per share Basic and diluted $ 0.29 $ 0.39 $ 0.87 $ 1.09 Weighted average common shares used in computing earnings per share Basic and diluted 4,070,327 4,168,414 4,085,134 4,168,414

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