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Innovative Industrial Properties Announces Tax Treatment of 2024 Distributions

1. IIPR announced tax treatment for 2024 distributions to shareholders. 2. Total distribution per share for common stock is $9.34 for 2024. 3. The majority of distributions classified as taxable ordinary dividends. 4. Tax strategy may enhance shareholder appeal and stock performance. 5. Past split-year distributions were reported, impacting tax treatments.

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FAQ

Why Bullish?

Positive tax treatment and consistent distributions may attract investors, similar to previous dividends.

How important is it?

Tax treatment details and distribution consistency are important for investor decisions involving IIPR.

Why Short Term?

Impact expected before and during distribution dates, like past stock reactions.

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IIPRIIPR PR A
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) today announced the tax treatment of its 2024 distributions as follows: Security Description: Common Stock CUSIP: 45781V101 Ticker Symbol: IIPR Record Date Payable Date Total Distribution Per Share Allocable to 2024 Taxable Ordinary Dividend Return of Capital Long-Term Capital Gain Unrecaptured Section 1250 Gain(1) Section 199A Dividend(2) 12/29/2023 01/12/2024 $1.820000 $0.990000 $0.990000 $0.000000 $0.000000 $0.000000 $0.990000 03/28/2024 04/15/2024 $1.820000 $1.820000 $1.820000 $0.000000 $0.000000 $0.000000 $1.820000 06/28/2024 07/15/2024 $1.900000 $1.900000 $1.900000 $0.000000 $0.000000 $0.000000 $1.900000 09/30/2024 10/15/2024 $1.900000 $1.900000 $1.900000 $0.000000 $0.000000 $0.000000 $1.900000 12/31/2024 01/15/2025 $1.900000 $0.830000 $0.830000 $0.000000 $0.000000 $0.000000 $0.830000 Totals $9.340000 $7.440000 $7.440000 $0.000000 $0.000000 $0.000000 $7.440000 Security Description: 9.00% Series A Cumulative Redeemable Preferred Stock CUSIP: 45781V200 Ticker Symbol: IIPR PR A Record Date Payable Date Total Distribution Per Share Allocable to 2024 Taxable Ordinary Dividend Return of Capital Long-Term Capital Gain Unrecaptured Section 1250 Gain(1) Section 199A Dividend(2) 03/28/2024 04/15/2024 $0.562500 $0.562500 $0.562500 $0.000000 $0.000000 $0.000000 $0.562500 06/28/2024 07/15/2024 $0.562500 $0.562500 $0.562500 $0.000000 $0.000000 $0.000000 $0.562500 09/30/2024 10/15/2024 $0.562500 $0.562500 $0.562500 $0.000000 $0.000000 $0.000000 $0.562500 12/31/2024 01/15/2025 $0.562500 $0.562500 $0.562500 $0.000000 $0.000000 $0.000000 $0.562500 Totals $2.250000 $2.250000 $2.250000 $0.000000 $0.000000 $0.000000 $2.250000 (1) These amounts are a subset of, and included in, Long-Term Capital Gain amounts. (2) These amounts are a subset of, and included in, Taxable Ordinary Dividend amounts. The common stock distribution with a record date of December 31, 2024 will be a split-year distribution, with $0.83 allocable to 2024 for federal income tax purposes and $1.07 allocable to 2025 for federal income tax purposes. As previously disclosed by IIP on January 26, 2024 in its press release announcing the tax treatment of 2023 dividends, the common stock distribution with a record date of December 29, 2023 was a split-year distribution, with $0.83 allocable to 2023 for federal income tax purposes and $0.99 allocable to 2024 for federal income tax purposes, and the 9.00% Series A Cumulative Redeemable Preferred Stock distribution with a record date of December 29, 2023 was allocable entirely to 2023 for federal income tax purposes. IIP did not incur any foreign taxes in 2024. Stockholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of IIP’s distributions. About Innovative Industrial Properties Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc. has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017. Additional information is available at www.innovativeindustrialproperties.com.

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