Orion Properties (ONL) Registration Filing summary

Company overview and business model

• Internally managed REIT focused on ownership, acquisition, and management of a diversified portfolio of office properties in high-quality suburban U.S. markets, primarily leased on a single-tenant net lease basis to creditworthy tenants.

• Portfolio includes traditional office, government, medical office, flex/lab, R&D, and flex/industrial properties, with a strategic shift toward dedicated use assets with office components.

• As of September 30, 2025, owned 63 operating properties (7.4 million leasable sq. ft. in 28 states) and six non-operating properties, plus an equity interest in a joint venture with six additional properties.

• Elected REIT status for U.S. federal tax purposes since 2021; common stock trades on NYSE under symbol "ONL."

Financial performance and metrics

• Incorporated by reference are the Annual Report on Form 10-K for the year ended December 31, 2024, and Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30, and September 30, 2025.

• As of October 31, 2025, 56,314,634 shares of common stock outstanding and no preferred stock outstanding.

Use of proceeds and capital allocation

• Net proceeds from securities offerings will be used for general corporate purposes, including potential acquisitions and repayment of outstanding debt.

• Pending use, proceeds may be temporarily invested in interest-bearing accounts or securities consistent with REIT qualification.