Stratus Properties Inc. Responds to Unsolicited, Non-Binding Acquisition Proposal

NXSTEP Opportunity Partners made an unsolicited, non-binding proposal to acquire Stratus Properties Inc. for $27.18 per share in cash, subject to adjustments. However, Stratus' Board of Directors determined that the proposal substantially undervalues the Company and its future prospects and is not in the best interests of the Company and its stockholders. A revised proposal was received later, and Stratus' Board plans to consider these matters consistent with its fiduciary duties and respond to NXSTEP in due course.