Effective August 14, 2020, Daniel J. Moos President [since April 2007] of American Realty Investors, Inc., ceased to be and resigned as President, as well as all positions with any United States subsidiary entities. Effective as of August 17, 2020, the Board of Directors of the Company appointed Erik L. Johnson Executive Vice President of the Company. Mr. Johnson most recently was Vice President of Financial Reporting of The Macerich Company in Santa Monica, California, a position he held for more than the past five years, from 2005 through June 2020. Mr. Johnson, a certified public accountant (“CPA”) from 2001-2005, was controller/Chief Accounting Officer of North American Scientific, Inc. based in Los Angeles, California, and from 2000- 2001, he was the controller of Launch Media, Inc. in Santa Monica, California.