Medalist Diversified, Inc.

ITEM 2.01 Completion of Acquisition or Disposition of Assets. As previously disclosed in the Form 8-K filed with the Securities and Exchange Commission by Medalist Diversified, Inc., a Maryland corporation (the “Company”) on February 4, 2026, on February 3, 2026, MDR Ashley Plaza, LLC, a Delaware limited liability company (the “Seller”), a wholly owned subsidiary of the Company, entered into a Purchase and Sale Agreement (the “Agreement”), with HPX Goldsboro Ashley Center LLC, a Delaware limited liability company (the “Purchaser”), whereby the Purchaser agreed to acquire from the Seller the Ashley Plaza Shopping Center, a 164,012 square foot retail property located in Goldsboro, North Carolina (the “Ashley Plaza Property”). On July 31, 2026, the Company closed on the sale of the Ashley Plaza Property (the “Disposition”). The total sales price of the Ashley Plaza Property was $16,275,000. The sale was based on arm’s length negotiations with an unaffiliated purchaser. The Company used $10,060,697 from the proceeds from the sale of the Ashley Plaza Property to defease and retire its obligations under the mortgage loan secured by the Ashley Plaza Property. The foregoing description is only a summary of the material provisions of the Agreement and is qualified in its entirety by reference to the full text of the Agreement, which was filed as Exhibit 10.1 to the Company’s Current Report on 8-K filed on March 6, 2026 and incorporated by reference herein. The unaudited pro forma condensed consolidated financial information of the Company, together with the related notes thereto, giving effect to the consummation of the Disposition and the consummation of prior dispositions, is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.