Barnwell Industries Inc. has been experiencing significant shareholder activism surrounding its 2025 Annual Meeting. The meeting, initially convened and then adjourned, is now scheduled for September 19, 2025, in Honolulu, Hawaii. This adjournment was partly influenced by the actions of Mr. Sherwood, who, by defeating a quorum, forced multiple postponements. This has resulted in increased costs for Barnwell and diverted management's focus from its strategic initiatives aimed at enhancing shareholder value. The Board of Directors at Barnwell has extended several settlement offers to Mr. Sherwood, each providing board representation aligned with the Sherwood Group's ownership. However, Mr. Sherwood has rejected these offers, proposing instead to gain control of the Board. Despite this, Barnwell remains open to constructive discussions with the Sherwood Group to find a resolution beneficial to both the Company and its shareholders. The Board has amended its bylaws to reduce the quorum requirement for the meeting from a majority to thirty-three and one-third percent of issued and outstanding shares, allowing the election of directors to proceed. Shareholders are urged to use the WHITE proxy card to vote for the Board's nominees and to disregard any green proxy card distributed by the Sherwood Group.