RCI HOSPITALITY HOLDINGS, INC.

As of September 30, 2025, we own 88 real estate properties. On 60 of these properties, we operate clubs or restaurants, including those temporarily closed. We lease multiple other properties to third-party tenants. Eight of our owned properties are in locations where we previously operated clubs or are adjacent to acquired clubs, but now lease the buildings to third parties. Twenty are non-income-producing properties for corporate use (including our corporate office) or future club or restaurant locations, or may be offered for sale in the future. Eleven of our clubs and restaurants are in leased locations.

Our principal corporate office is located at 10737 Cutten Road, Houston, Texas 77066, consisting of a 21,000-square foot corporate office and an 18,000-square foot warehouse facility.

Below is a list of locations we operated as of September 30, 2025:

(1)Leased location.

(2)Temporarily closed due to fire.

(3)Closed or sold subsequent to September 30, 2025.

Our property leases are typically for a fixed rental rate with contingent rent for certain locations. The lease terms generally have initial terms of 10 to 20 years with renewal terms of 5 to 20 years. At September 30, 2025, certain of the properties we own were collateral for mortgage debt amounting to approximately $150.6 million. We believe that our existing facilities, both owned and leased, are in good condition and adequate and suitable for the conduct of our business.

See related information in Notes 7 and 9 to our consolidated financial statements.