Final repayment of WRI seller financing and recent Hawaii distributions underscore the value of Barnwell's Hawaii holdings and the Company's execution of strategic repositioning plan

HOUSTON, TX / ACCESS Newswire / June 18, 2026 / Barnwell Industries, Inc. (NYSE:BRN) ("Barnwell" or the "Company") today announced that it has received full repayment of the seller financing provided in connection with its previously announced sale of Water Resources International, Inc. ("WRI").

WRI was Barnwell's Hawaii-based water well drilling and pump installation business. As previously announced, on March 14, 2025, the Company sold WRI for gross proceeds of $1,050,000, including seller financing. The repayment of the final installment of that financing in full, together with all accrued interest, completes the monetization of the asset, and marks the successful conclusion of the transaction.

The repayment follows Barnwell's announcement on March 23, 2026 that it had received a cash distribution of approximately $290,000 from its retained Hawaii resort development interests, including its KD Kona and KKM Makai investments. Together, these transactions demonstrate Barnwell's continued ability to generate value from its Hawaii operations through both strategic asset monetization and ongoing ownership interests.