Prior to the adoption of the Company’s Plan of Sale, Seritage was principally engaged in the ownership, development, redevelopment, management, sale and leasing of diversified retail and mixed-use properties throughout the United States. The Company was formed to unlock the underlying value of a high-quality retail real estate portfolio acquired from Sears Holdings in July 2015. The Company’s mission is to maximize value for shareholders by repositioning the Company’s portfolio through leasing, redevelopment, formation of strategic partnerships, and other bespoke solutions.