INNSUITES HOSPITALITY TRUST

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Holders of the Trust’s Shares of Beneficial Interest are entitled to receive dividends when and if declared by the Board of Trustees of the Trust out of funds legally available. The holders of Shares of Beneficial Interest, upon any liquidation, dissolution or winding-down of the Trust, are entitled to share ratably in any assets remaining after payment in full of all liabilities of the Trust. The Shares of Beneficial Interest possess ordinary voting rights, each share entitling the holder thereof to one vote. Holders of Shares of Beneficial Interest do not have cumulative voting rights in the election of Trustees and do not have preemptive rights.

For the nine months ended October 31, 2025 and 2024, the Trust repurchased 0 and 28,337 Shares of Beneficial Interest at an average price of $0.00 and $1.59 per share, respectively. The average price paid includes brokerage commissions. The Trust intends to consider continuation from time to time, repurchasing Shares of Beneficial Interest in compliance with applicable legal and NYSE AMERICAN requirements. The Trust’s management believes the Trust share price does not fully recognize the Trust’s full value and/or full potential, due to depreciated book values significantly below market value, anticipated strengthening of hotel operations and cost controls, with potential additional room rate increases and occupancy increases, the substantial potential of the UniGen efficient clean energy investment, and the profit potential of redevelopment of IBC Hotels for independent hotels, including its five-year option to purchase at cost, if successful, as well as the potential for a reverse merger with a larger entity seeking the benefit of a NYSE-American public listing. During the three months ended October 31, 2025, the Trust acquired 0 Shares of Beneficial Interest in open market transactions. During Fiscal Year 2025 (February 1, 2024 to January 31, 2025), the Trust repurchased 265,087 IHT Shares at an average price of $1.72 per share.