Copper Property CTL Pass Through Trust

Current report (Form 8-K) · Jun 5, 2026 · Other material event · Investor press release · Financial statements

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CPPTL

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Other material event

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Jun 5, 2026

Filing summary Workforce analysis SEC documents(10)Filing text Exhibits(2)

EX-99.1 · cptexhibit991may26.htm

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EX-99.1

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cptexhibit991may26.htm

Document text
EX-99.1 · cptexhibit991may26.htm EX-99.1 2 cptexhibit991may26.htm EX-99.1 Exhibit 99.1 Monthly/Quarterly Reporting Package May 2026 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Table of Contents SECTION I - Monthly Reporting Schedules 4 Monthly Certificate Distribution Detail 5 Monthly Cash Source and Uses 6 Monthly Cash Distributions 7 Property Sales This Month 8 Retail Portfolio as of Determination Date 9 Distribution Center Portfolio as of Determination Date 11 Landlord and Tenant Option Properties as of Determination Date 12 Substitution Properties This Month 13 Monthly Leasing Activity: Retail Properties 14 Summary Select Financial Information 15 SECTION II - Provided Quarterly 16 Master Lease Retail Tenant Operating Performance for Retail Portfolio as of Determination Date N/A Master Lease Guarantor Operating Performance N/A SECTION III 17 Management’s Comments 18 SECTION IV – Provided Quarterly – Penney Intermediate Holdings LLC Financial Statements 19 Narrative Report N/A Consolidated Statement of Operations N/A Consolidated Balance Sheet N/A Consolidated Statement of Member’s Equity N/A Consolidated Statement of Cash Flows N/A Notes to the Consolidated Financial Statements N/A Statement of Consolidated Adjusted EBITDA N/A SECTION V – Definitions and Disclaimers 20 Definitions 21 Disclaimer 22 Trustee Manager GLAS Trust Company, LLC Hilco JCP, LLC 3 Second Street, Suite 206 5 Revere Drive, Suite 410 Jersey City, NJ 07311 Northbrook, IL Contact: Jeffrey Schoenfeld Contact: Larry Finger Phone: 201-839-2187 Phone: 703-244-4588 Email: Jeffrey.Schoenfeld@glas.agency Email: lfinger@ctltrust.net www.ctltrust.net 2 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Forward-Looking Statements & Non-GAAP Presentation This distribution statement contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, statements of expectations, beliefs, future plans and strategies, anticipated results from operations and developments and other matters that are not historical facts. The forward-looking statements are based on our beliefs as well as on a number of assumptions concerning future events. Readers of these materials are cautioned not to put undue reliance on these forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements. Certain of the financial measures presented in this distribution statement are non-GAAP financial measures, other metrics and other information. We believe that non-GAAP financial measures, other metrics and other information provide useful information to investors regarding our financial condition, result of operations and other matters. The non-GAAP financial measures, other metrics and information as presented in this distribution statement may be adjusted in management’s reasonable judgment as appropriate, taking into account a variety of circumstances, facts and conditions. These adjustments may be material and may or may not be specifically identified in footnotes or otherwise. Our measures, metrics and other information (and the methodologies used to derive them) may not be comparable to those used by other companies. Please refer to Section V of this distribution statement, titled “Disclaimer”, for additional information. www.ctltrust.net 3 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 SECTION I Monthly Reporting Schedules www.ctltrust.net 4 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Monthly Certificate Distribution Detail CUSIP Aggregate Certificates Outstanding Aggregate Net Sales Proceeds Distribution Aggregate Net Operations Distribution Aggregate Total Distribution 217519107 75,000,000 $(16,221.01) $6,880,386.17 $6,864,165.16 Per Certificate CUSIP Aggregate Certificates Outstanding Aggregate Net Sales Proceeds Distribution Aggregate Net Operations Distribution Aggregate Total Distribution 217519107 75,000,000 $(0.000217) $0.091739 $0.091522 www.ctltrust.net 5 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Monthly Cash Sources and Uses Sources of Cash from Operations Uses of Cash from Operations Distribution Center Master Lease Rent $ — Accounting and Financial Reporting $ 54,198.39 Retail Master Lease Rent 8,210,887.28 Investor Relations 5,361.93 Total Rent $ 8,210,887.28 Legal 869,619.09 Insurance — Sales & Use Tax Recovery $ 8,299.89 Management Fees -Operations and Other Professional Fees 472,126.00 Other 71,829.44 BOV’s and Other 1,025.12 Total Other Sources of Cash $ 80,129.33 Total Operating Expenses $ 1,402,330.53 Taxes to be Recovered from Tenant $ 8,299.91 Formation, Closing & Related Costs — Total Other Uses of Cash $ 8,299.91 Total Sources of Cash from Operations $ 8,291,016.61 Total Uses of Cash from Operations $ 1,410,630.44 Sources of Cash from Sales / Capital Activity Uses of Cash from Sales / Capital Activity Distribution Center Gross Sales Proceeds $ — Management Fees -Sales $ — Retail Master Lease Gross Sales Proceeds — Third Party Expenses: Distribution Center Sales — Total Gross Sales Proceeds $ — Third Party Expenses: Retail Sales 16,221.01 Prepaid Sales Expenses — Other — Total Expenses of Sales $ 16,221.01 Other — Other — Total Other $ — Total Other Uses of Cash — Total Sources of Cash from Sales / Capital Activity $ — Total Uses of Cash from Sales / Capital Activity $ 16,221.01 Net Cash Available for Distribution Total Sources of Cash from Operations $ 8,291,016.61 Total Uses of Cash from Operations (1,410,630.44) Net Cash Provided by Operations $ 6,880,386.17 Total Sources of Cash from Sales / Capital Activity $ — Total Uses of Cash from Sales / Capital Activity (16,221.01) Net Cash Provided by Sales / Capital Activity $ (16,221.01) Net Cash Available for Distribution $ 6,864,165.16 www.ctltrust.net 6 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Monthly Cash Distributions Distribution Date Net Rental Income Distribution Sales and Capital Activity Distribution Sales and Capital Activity Distribution 10-Jun-26 $6,880,386.17 $(16,221.01) $6,864,165.16 11-May-26 6,513,137.12 (30,131.73) 6,483,005.39 10-Apr-26 6,206,953.14 (125,799.00) 6,081,154.14 10-Mar-26 6,471,234.32 (257,920.62) 6,213,313.70 10-Feb-26 5,184,969.86 (462,194.36) 4,722,775.50 12-Jan-26 6,860,862.50 1,548,947.43 8,409,809.93 10-Dec-25 7,294,355.29 (539,906.32) 6,754,448.97 10-Nov-25 6,684,024.87 (1,183,775.98) 5,500,248.89 10-Oct-25 5,671,007.44 11,910,112.84 17,581,120.28 10-Sep-25 6,721,031.87 (807,469.65) 5,913,562.22 11-Aug-25 7,380,105.47 (326,127.16) 7,053,978.31 10-Jul-25 7,293,589.96 (404,738.94) 6,888,851.02 Trailing 12 mos. $79,161,658.01 $9,304,775.50 $88,466,433.51 Inception to Date $458,614,202.61 $1,073,895,055.76 $1,532,509,258.37 www.ctltrust.net 7 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Property Sales This Month Sale Date Property ID Property Name Square Feet Rent for Lease Year at Closing Date 1 Gross GAAP Basis 2 Gross Sales Price Net Sales Price 3 Net Sales Price Per Square Foot Implied Cap. Rate/ Rent Yield at Closing 4 Selling Cost Selling Costs as Percentage of Gross Sales Price 5 Selling Broker Retail Property Sales This Month - - - - Total Retail Property Sales this Month — $— $— $— $— $— —% $— —% Total Property Sales this Month — $— $— $— $— $— —% $— —% Property Sales this Month Average — $— $— $— $— $— —% $— —% Retail Properties 6,239,608 $28,615,335 $442,200,000 $547,969,137 $547,969,137 $87.82 5.22% $20,908,422 3.82% Distribution Centers 10,108,611 35,380,000 497,900,000 557,165,354 557,165,354 55.12 6.35% 7,873,676 1.41% Previous Distribution Period Total: 16,348,219 $63,995,335 $940,100,000 $1,105,134,491 $1,105,134,491 $67.60 5.79% $28,782,098 2.60% Previous Distribution Periods Average: 333,637 $1,306,027 $19,185,714 $22,553,765 $22,553,765 $67.60 5.79% $587,390 2.60% Retail Properties 6,239,608 $28,615,335 $442,200,000 $547,969,137 $547,969,137 $87.82 5.22% $20,908,422 3.82% Distribution Centers 10,108,611 35,380,000 497,900,000 557,165,354 557,165,354 55.12 6.35% 7,873,676 1.41% Cumulative Distribution to Date Total: 16,348,219 $63,995,335 $940,100,000 $1,105,134,491 $1,105,134,491 $67.60 5.79% $28,782,098 2.60% Cumulative Distribution to Date Average: 333,637 $1,306,027 $19,185,714 $22,553,765 $22,553,765 $67.60 5.79% $587,390 2.60% 1 Annualized Monthly Rent (e.g. Monthly Rent due for in Sale Period X 12). Rental Abatement shall be disregarded. 2 GAAP Basis before depreciation and amortization. The Trust determined that fresh start accounting fair value (not cost) of the investment properties based upon the fair value of the individual assets and liabilities assumed as of the Effective Date (1/31/21).The total fair value of the properties acquired was $1.935 Billion. 3 Net of credits provided to Buyer other than pro-rations. Selling costs are not netted in Net Sales Price 4 Gross Sales Price divided by the Annual Rent as defined above 5 Selling Costs as percentage of Gross Sales Price. Selling costs may not tie into the Total Expenses of Sale as reported on the Monthly Sources and Uses Report. www.ctltrust.net 8 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Retail Portfolio as of Determination Date By First Lease Year Rent Per Square Foot Tier: By Property Ownership Type: Tier Properties Square Feet Current Lease Year Rent 1 Ownership Type Properties Square Feet Current Lease Year Rent 1 Tier 1 -$9.00 29 3,680,461 $35,151,613.00 Owned 97 12,698,615 $81,444,537.00 Tier 2 -$6.00 66 8,405,891 53,522,392.00 Ground Lease 20 2,773,724 17,086,110.00 Tier 3 -$3.50 10 1,677,440 6,230,396.00 Tier 4 -$2.00 12 1,708,547 3,626,246.00 Total: 117 15,472,339 $98,530,647.00 Total: 117 15,472,339 $98,530,647.00 By Current Lease Year Rent Per Property: By Property Type: Tier Properties Square Feet Current Lease Year Rent 1 Property Type Properties Square Feet Current Lease Year Rent 1 >=$950,000 38 6,115,180 $48,214,596.00 Shopping Center 25 2,512,081 $17,692,069.00 >=$700,000 & < $950,000 25 3,329,183 21,939,019.00 Freestanding 3 272,888 1,737,545.00 >=$500,000 & < $700,000 37 3,978,088 22,803,627.00 Mall 89 12,687,370 79,101,033.00 <=$500,000 17 2,049,888 5,573,405.00 Total: 117 15,472,339 $98,530,647.00 Total: 117 15,472,339 $98,530,647.00 1 Current Lease Year Rent = Monthly Rent X 12, excluding rental abatement. www.ctltrust.net 9 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Retail Portfolio as of Determination Date (Cont’d) By Geography: State Properties Square Feet Current Lease Year Rent 1 AR 2 186,745 $1,189,052.00 MS 1 99,396 949,318.00 AZ 4 492,446 3,746,843.00 NC 1 104,198 221,152.00 CA 19 2,790,972 19,006,733.00 NH 1 126,006 802,311.00 CO 2 262,629 1,250,678.00 NJ 4 701,609 3,340,573.00 CT 3 464,682 986,248.00 NM 2 265,910 2,138,173.00 FL 6 847,993 7,321,566.00 NV 3 437,937 4,182,681.00 GA 1 104,872 1,001,619.00 NY 3 469,462 1,702,394.00 IA 1 85,278 316,742.00 OH 5 645,447 3,718,979.00 ID 1 151,985 1,451,589.00 OK 3 332,223 1,586,203.00 IL 5 845,224 4,684,435.00 OR 1 157,928 1,005,567.00 IN 1 99,317 948,564.00 PA 3 373,019 2,780,265.00 KS 1 209,535 1,334,161.00 PR 2 185,946 1,183,964.00 KY 2 251,289 1,932,578.00 TN 2 243,786 933,247.00 LA 1 124,656 1,190,574.00 TX 19 1,938,187 13,803,789.00 MA 1 141,692 526,276.00 VA 2 211,452 1,346,368.00 MD 2 261,580 1,130,487.00 WA 3 506,149 3,772,817.00 MI 6 863,012 3,926,170.00 WI 1 85,981 547,462.00 MN 1 173,968 1,107,697.00 Total: 117 15,472,339 $98,530,647.00 MO 2 229,828 1,463,372.00 1 Current Lease Year Rent = Monthly Rent X 12, excluding rental abatement. www.ctltrust.net 10 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Distribution Center Portfolio as of Determination Date (All Distribution Centers sold in December 2021) Property ID 9005 9130 9132 9316 9435 9486 Location Statesville, NC Columbus, OH Lenexa, KS Reno, NV Haslet, TX Forest Park, GA Square Feet New JCP — — — — — — Other Tenants — — — — — — Vacant — — — — — — Total — — — — — — Current Lease Year Rent 1 New JCP — — — — — — Other Tenants — — — — — — Total — — — — — — Current Lease Year Rent - PSF 2 New JCP — — — — — — Other Tenants — — — — — — Total — — — — — — 1 Current Lease Year Rent = Monthly Rent X 12 2 Current Lease Year Rent PSF = (Monthly Rent X 12) / Square Feet www.ctltrust.net 11 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Landlord and Tenant Option Properties as of Determination Date Property ID Option Type Property Name Location Square Feet Current Lease Year Rent 1 Option Notice (Y/N) Option Exercise / Closing Date 246 Landlord SouthBay Pavilion at Carson 20700 Avalon Boulevard, Carson, CA N/A N/A N Property Sold 09-30-21 389 Landlord Stoneridge S/C 1500 Stoneridge Mall Road, Pleasanton, CA N/A N/A N Property Sold 07-20-22 1229 Landlord The Oaks 280 Hillcrest Drive W, Thousand Oaks, CA N/A N/A N Property Sold 12-17-24 1572 Landlord Westfield Culver City 6000 S Hannum Avenue, Culver City, CA N/A N/A N Property Sold 01-06-22 1959 Landlord The Shops at Tanforan 1122 El Camino Real, San Bruno, CA N/A N/A N Property Sold 09-14-21 1417 Landlord Westfield Santa Anita 400 S Baldwin Avenue, Arcadia, CA 204,563 759,794.00 N 1950 Landlord Fashion Valley 6987 Friars Road, San Diego, CA N/A N/A N Property Sold 07-09-21 2649 Landlord Westminster Mall 400 Westminster Mall, Westminster, CA N/A N/A N Property Sold 10-05-22 2757 Landlord Park Meadows 8417 S Park Meadows Center Drive, Loan Tree CO N/A N/A N Property Sold 07-29-21 2256 Landlord Danbury Fair 7 Backus Avenue, Danbury, CT 136,375 289,444.00 N 2102 Landlord Westfield Annapolis 1695 Annapolis Mall, Annapolis, MD N/A N/A N Property Sold 09-09-22 1623 Landlord Twelve Oaks Mall 27150 Novi Road, Novi, MI 155,807 578,703.00 N 2247 Landlord Pheasant Lane Mall 310 Daniel Webster Highway, Suite 103, Nashua, NH N/A N/A N Property Sold 08-25-22 2297 Landlord Newport Centre 10 Mall Drive W, Jersey City, NJ 185,330 688,358.00 N 2477 Landlord Freehold Raceway Mall 3710 Highway 9, Freehold, NJ 149,608 317,530.00 N 2814 Landlord Queens Center 92-59 59th Avenue. Elmhurst, NY N/A N/A N Property Sold 12-23-21 197 Landlord Gateway Shopping Center I & II 360 Gateway Drive, Brooklyn, NY 123,942 263,056.00 N 2040 Landlord Barton Creek Square 2901 S Capitol of Texas Highway, Austin, TX N/A N/A N Property Sold 11-30-22 2763 Landlord The Woodlands Mall 1201 Lake Woodlands Drive, Suite 500, Woodlands, TX N/A N/A N Property Sold 12-15-22 2795 Landlord Stonebriar Centre 2607 Preston Road, Frisco, TX N/A N/A N Property Sold 07-29-21 2881 Landlord Memorial City S/C 300 Memorial City Way, Houston, TX N/A N/A N Property Sold 11-03-21 192 Landlord Fair Oaks Mall 11801 Fair Oaks Mall, Fairfax, VA N/A N/A N Property Sold 09-09-22 1462 Landlord Springfield Town Center 6699 Springfield Mall, Springfield, VA N/A N/A N Property Sold 09-09-22 2865 Tenant Tamarack Village 8348 Tamarack Village, Woodbury, MN N/A N/A N Property Sold 12-29-21 2801 Tenant Polaris Fashion Place 1450 Polaris Parkway, Columbus, OH 146,990 935,922.00 N 2921 Tenant Robertson's Creek 5751 Long Prairie Road, Flower Mound, TX N/A N/A N Property Sold 11-19-21 2934 Tenant University Oaks S/C 151 University Oaks, Round Rock, TX N/A N/A N Property Sold 11-19-21 2982 Tenant Village at Fairview 301 Stacy Road, Fairview, TX N/A N/A N Property Sold 11-19-21 2749 Tenant Dulles Town Centre 21030 Dulles Town Circle, Sterling, VA N/A N/A N Property Sold 08-29-22 Total: 1,102,615 $3,832,807.00 1 Current Lease Year Rent = Monthly Rent X 12, excluding rental abatement. www.ctltrust.net 12 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Substitution Properties as of Determination Date (No Substitution Properties May 2026) Property ID Property Name Property Location Substitution Type (Outgoing / Incoming) Square Feet Current Lease Year Rent 1 Notice Date Exercise Date — $ — Total: 1 Current Lease Year Rent = Monthly Rent X 12 www.ctltrust.net 13 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Monthly Leasing Activity Retail Properties (No Leasing Activity May 2026) Property ID Lease Start Date Tenant Name Square Feet Current Lease Year Rent - PSF 1 Current Lease Year Rent 2 Real Estate Operating Expenses Initial Term (Months) Extension Options (Years) Tenant Business Description Manager Commentary — — $ — Total: — — $ — 1 Current Lease Year Rent PSF = (Monthly Rent X 12) / Square Feet, excluding rental abatement. 2 Current Lease Year Rent = Monthly Rent X 12, excluding rental abatement. www.ctltrust.net 14 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Summary Select Financial Information For copies of our most recent financial statements, including management’s discussion and analysis of financial condition and results of operations, sales and capital activity, you can access our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act at www.ctltrust.net as soon as reasonably practicable after they are filed with, or furnished to, the SEC. You can also review these SEC filings and other information by accessing the SEC’s website at http://www.sec.gov. The SEC file number is 000-56236. www.ctltrust.net 15 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 SECTION II (Provided Quarterly) www.ctltrust.net 16 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 SECTION III www.ctltrust.net 17 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Management’s Comments (Management Commentary will be provided in our 10Q’s and 10K’s) www.ctltrust.net 18 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 SECTION IV (Provided Quarterly) www.ctltrust.net 19 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 SECTION V Definitions and Disclaimers www.ctltrust.net 20 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Monthly Distribution Date Statement Definitions The following metrics apply to Quarterly Reporting only: (A) “ Tenant’s Sales per Square Foo t” is not a measure of the Trust’s financial performance and is provided solely for investors’ informational purposes based on the information that the Trust receives from the Tenant. This measure of operations is derived from sales information reported to the Trust by the Tenant in accordance with the retail master lease and/or distribution center master lease (each, a “Master Lease”), as applicable. The Trust and the Manager do not have the ability to verify the calculation of this information. The calculation of this information by the tenant may be different than how similar measures of operations might be calculated by others. Finally, the Trust is unable to reconcile “Tenant’s Sales per Square Foot” to a comparable GAAP financial measure because no reconciliation is provided for in the applicable Master Lease. Therefore, investors should be cautious about relying upon “Tenant’s Sales per Square Foot.” (B) “ Tenant’s Four-Wall EBITDAR ” is not a measure of the Trust’s financial performance and is provided solely for investors’ informational purposes based on the information that the Trust receives from the Tenant. This measure of operations is calculated in accordance with the [Master Lease] and is reported to the Trust by the tenant in accordance therewith. The Trust and the Manager do not have the ability to verify the calculation of this measure of operations. In addition, the calculation of “Tenant’s Four-Wall EBITDAR” in accordance with the applicable Master Lease may be different than how similar measures of operating statistic might be calculated by others. Finally, the Trust is unable to reconcile “Tenant’s Four-Wall EBITDAR” to a comparable GAAP financial measure because no reconciliation is provided for in the applicable Master Lease. Therefore, investors should be cautious about relying upon “Tenant’s Four-Wall EBITDAR.” www.ctltrust.net 21 Contact Us For additional information, please contact: Jessica Cummins at (847) 313-4755 Distribution Date: 6/10/2026 Record Date: 6/9/2026 Determination Date: 5/31/2026 Monthly Distribution Date Statement Disclaimer Forward-Looking Statements: This distribution statement contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, statements of expectations, beliefs, future plans and strategies, anticipated results from operations and developments and other matters that are not historical facts. The forward-looking statements are based on our beliefs as well as on a number of assumptions concerning future events. Readers of these materials are cautioned not to put undue reliance on these forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements. We do not undertake a duty to update these forward- looking statements, which speak only as of the date on which they are made. The most important factors that could prevent us from achieving the stated goals include, but are not limited to: (a) the severity, duration and geographical scope of the COVID-19 pandemic and the effects of the pandemic and measures intended to prevent its spread on our business, results of operations, cash flows and financial condition, including declines in rental revenues and increases in operating costs in the portfolio, deterioration in the financial conditions of the tenants and their ability to satisfy their payment obligations, increased risk of claims, litigation and regulatory proceedings and the ability of federal, state and local governments to respond to and manage the pandemic effectively; (b) the ability and willingness of the tenants, operators, managers and other third parties to satisfy their obligations under their respective contractual arrangements, including, in some cases, their obligations to indemnify, defend and hold us harmless from and against various claims, litigation and liabilities; (c) the ability of the tenants, operators, borrowers and managers to maintain the financial strength and liquidity necessary to satisfy their respective obligations and liabilities to third parties; (d) macroeconomic conditions such as a disruption of or a lack of access to the capital markets, changes in the debt rating on U.S. government securities, default or delay in payment by the United States of its obligations; (e) the nature and extent of future competition, including new construction in the markets in which the our properties are located; (f) the ability of the tenants, operators and managers, as applicable, to comply with laws, rules and regulations in the operation of the properties; (g) the ability and willingness of the tenants to renew their leases upon expiration of the leases, the ability to reposition our properties on the same or better terms in the event of nonrenewal or in the event the we exercises our right to replace an existing tenant or manager; and (h) the other factors set forth in the our periodic filings with the Securities and Exchange Commission. Non-GAAP Presentation: Certain of the financial measures presented in this distribution statement are non-GAAP financial measures, other metrics and other information. We believe that non-GAAP financial measures, other metrics and other information provide useful information to investors regarding our financial condition, result of operations and other matters. The non-GAAP financial measures, other metrics and information as presented in this distribution statement may be adjusted in management’s reasonable judgment as appropriate, taking into account a variety of circumstances, facts and conditions. These adjustments may be material and may or may not be specifically identified in footnotes or otherwise. Our measures, metrics and other information (and the methodologies used to derive them) may not be comparable to those used by other companies. The foregoing language applies to (and supersedes if different from) the specific definitions contained herein. Readers are cautioned to refer to our periodic filings furnished to or filed with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are prepared in accordance with GAAP. This distribution statement and the information contained herein should be reviewed in conjunction with such filings. SEC Reporting: The information in this distribution statement should be read in conjunction with our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, our earnings press release and other information filed with, or furnished to, the SEC. You can access our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act at www.ctltrust.net as soon as reasonably practicable after they are filed with, or furnished to, the SEC. You can also review these SEC filings and other information by accessing the SEC’s website at http://www.sec.gov. We routinely post important information on our website at www.ctltrust.net in the “Investors” section, including financial information. We intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included on our website under the heading “Investors.” Accordingly, investors should monitor such portion of our website in addition to following our press releases, public conference calls and filings with the SEC. The information on or connected to our website is not, and shall not be deemed to be, a part of, or incorporated into this distribution statement. www.ctltrust.net 22

Document text

EX-99.1 · cptexhibit991may26.htm

EX-99.1
 2
 cptexhibit991may26.htm
 EX-99.1

 Exhibit 99.1

 Monthly/Quarterly Reporting Package

 May 2026

 Contact Us
 For additional information, please contact:
 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Table of Contents

 SECTION I - Monthly Reporting Schedules
 4

 Monthly Certificate Distribution Detail
 5

 Monthly Cash Source and Uses
 6

 Monthly Cash Distributions
 7

 Property Sales This Month
 8

 Retail Portfolio as of Determination Date
 9

 Distribution Center Portfolio as of Determination Date
 11

 Landlord and Tenant Option Properties as of Determination Date
 12

 Substitution Properties This Month
 13

 Monthly Leasing Activity: Retail Properties
 14

 Summary Select Financial Information
 15

 SECTION II - Provided Quarterly
 16

 Master Lease Retail Tenant Operating Performance for Retail Portfolio as of Determination Date
 N/A
 Master Lease Guarantor Operating Performance
 N/A
 SECTION III
 17

 Management’s Comments
 18

 SECTION IV – Provided Quarterly – Penney Intermediate Holdings LLC Financial Statements 19

 Narrative Report N/A
 Consolidated Statement of Operations N/A
 Consolidated Balance Sheet N/A
 Consolidated Statement of Member’s Equity N/A
 Consolidated Statement of Cash Flows N/A
 Notes to the Consolidated Financial Statements N/A
 Statement of Consolidated Adjusted EBITDA N/A
 SECTION V – Definitions and Disclaimers 20

 Definitions 21

 Disclaimer 22

 Trustee Manager
 GLAS Trust Company, LLC Hilco JCP, LLC
 3 Second Street, Suite 206 5 Revere Drive, Suite 410
 Jersey City, NJ 07311 Northbrook, IL
 Contact: Jeffrey Schoenfeld Contact: Larry Finger
 Phone: 201-839-2187 Phone: 703-244-4588
 Email: Jeffrey.Schoenfeld@glas.agency Email: lfinger@ctltrust.net

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 For additional information, please contact:
 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Forward-Looking Statements & Non-GAAP Presentation

 This distribution statement contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, statements of expectations, beliefs, future plans and strategies, anticipated results from operations and developments and other matters that are not historical facts. The forward-looking statements are based on our beliefs as well as on a number of assumptions concerning future events. Readers of these materials are cautioned not to put undue reliance on these forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements.

 Certain of the financial measures presented in this distribution statement are non-GAAP financial measures, other metrics and other information. We believe that non-GAAP financial measures, other metrics and other information provide useful information to investors regarding our financial condition, result of operations and other matters. The non-GAAP financial measures, other metrics and information as presented in this distribution statement may be adjusted in management’s reasonable judgment as appropriate, taking into account a variety of circumstances, facts and conditions. These adjustments may be material and may or may not be specifically identified in footnotes or otherwise. Our measures, metrics and other information (and the methodologies used to derive them) may not be comparable to those used by other companies.

 Please refer to Section V of this distribution statement, titled “Disclaimer”, for additional information.

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 For additional information, please contact:
 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 SECTION I
 Monthly Reporting Schedules

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 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Monthly Certificate Distribution Detail

 CUSIP Aggregate Certificates
 Outstanding
 Aggregate Net Sales
 Proceeds Distribution
 Aggregate Net
Operations Distribution Aggregate
 Total Distribution

 217519107 75,000,000 $(16,221.01) $6,880,386.17 $6,864,165.16

 Per Certificate

 CUSIP Aggregate Certificates
 Outstanding
 Aggregate Net Sales
 Proceeds Distribution
 Aggregate Net
Operations Distribution Aggregate
 Total Distribution

 217519107 75,000,000 $(0.000217) $0.091739 $0.091522

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 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Monthly Cash Sources and Uses

 Sources of Cash from Operations
 Uses of Cash from Operations

 Distribution Center Master Lease Rent
 $ — Accounting and Financial Reporting
 $ 54,198.39 
 Retail Master Lease Rent
 8,210,887.28 Investor Relations
 5,361.93 
 Total Rent
 $ 8,210,887.28 Legal
 869,619.09
 Insurance
 — 
 Sales & Use Tax Recovery $ 8,299.89  Management Fees -Operations and Other Professional Fees
 472,126.00
 Other 71,829.44 BOV’s and Other
 1,025.12
 Total Other Sources of Cash    
 $ 80,129.33 Total Operating Expenses $ 1,402,330.53

 Taxes to be Recovered from Tenant
 $ 8,299.91 
 Formation, Closing & Related Costs —
 Total Other Uses of Cash
 $ 8,299.91
 Total Sources of Cash from Operations
 $ 8,291,016.61 Total Uses of Cash from Operations
 $ 1,410,630.44

 Sources of Cash from Sales / Capital Activity
 Uses of Cash from Sales / Capital Activity

 Distribution Center Gross Sales Proceeds
 $ —  Management Fees -Sales
 $ —
 Retail Master Lease Gross Sales Proceeds
 —  Third Party Expenses: Distribution Center Sales
 —
 Total Gross Sales Proceeds
 $ —  Third Party Expenses: Retail Sales
 16,221.01
 Prepaid Sales Expenses — 
 Other —
 Total Expenses of Sales
 $ 16,221.01
 Other —   Other —
 Total Other
 $ —  Total Other Uses of Cash —
 Total Sources of Cash from Sales / Capital Activity
 $ —   Total Uses of Cash from Sales / Capital Activity
 $ 16,221.01

 Net Cash Available for Distribution

 Total Sources of Cash from Operations $ 8,291,016.61 
 Total Uses of Cash from Operations (1,410,630.44)
 Net Cash Provided by Operations
 $ 6,880,386.17

 Total Sources of Cash from Sales / Capital Activity
 $ — 
 Total Uses of Cash from Sales / Capital Activity
 (16,221.01)
 Net Cash Provided by Sales / Capital Activity
 $ (16,221.01)

 Net Cash Available for Distribution
 $ 6,864,165.16  

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 For additional information, please contact:
 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Monthly Cash Distributions

 Distribution
  Date
 Net Rental Income
 Distribution
 Sales and Capital Activity
 Distribution
 Sales and Capital Activity
 Distribution

 10-Jun-26 $6,880,386.17 $(16,221.01) $6,864,165.16
 11-May-26 6,513,137.12 (30,131.73) 6,483,005.39
 10-Apr-26 6,206,953.14 (125,799.00) 6,081,154.14
 10-Mar-26 6,471,234.32 (257,920.62) 6,213,313.70
 10-Feb-26 5,184,969.86 (462,194.36) 4,722,775.50
 12-Jan-26 6,860,862.50 1,548,947.43 8,409,809.93
 10-Dec-25 7,294,355.29 (539,906.32) 6,754,448.97
 10-Nov-25 6,684,024.87 (1,183,775.98) 5,500,248.89
 10-Oct-25 5,671,007.44 11,910,112.84 17,581,120.28
 10-Sep-25 6,721,031.87 (807,469.65) 5,913,562.22
 11-Aug-25 7,380,105.47 (326,127.16) 7,053,978.31
 10-Jul-25 7,293,589.96 (404,738.94) 6,888,851.02

 Trailing 12 mos.
 $79,161,658.01 $9,304,775.50 $88,466,433.51

 Inception to Date
 $458,614,202.61 $1,073,895,055.76 $1,532,509,258.37

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 For additional information, please contact:
 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Property Sales This Month
 Sale
 Date
 Property
  ID
 Property
Name Square
  Feet
 Rent for Lease Year at Closing Date 1
 Gross GAAP
  Basis 2
 Gross Sales
 Price
 Net Sales
  Price 3
 Net Sales Price
 Per Square Foot
 Implied Cap. Rate/
 Rent Yield at Closing 4
 Selling
 Cost Selling Costs as Percentage
 of Gross Sales Price 5
 Selling
  Broker

 Retail Property Sales This Month

 - -

 - -

 Total Retail Property Sales this Month — $— $— $— $— $— —% $— —%

 Total Property Sales this Month
 — $— $— $— $— $— —% $— —%
 Property Sales this Month Average — $— $— $— $— $— —% $— —%

 Retail Properties
 6,239,608 $28,615,335 $442,200,000 $547,969,137 $547,969,137 $87.82 5.22% $20,908,422 3.82%
 Distribution Centers
 10,108,611 35,380,000 497,900,000 557,165,354 557,165,354 55.12 6.35% 7,873,676 1.41%
 Previous Distribution Period Total:
 16,348,219 $63,995,335 $940,100,000 $1,105,134,491 $1,105,134,491 $67.60 5.79% $28,782,098 2.60%
 Previous Distribution Periods Average: 333,637 $1,306,027 $19,185,714 $22,553,765 $22,553,765 $67.60 5.79% $587,390 2.60%

 Retail Properties
 6,239,608 $28,615,335 $442,200,000 $547,969,137 $547,969,137 $87.82 5.22% $20,908,422 3.82%
 Distribution Centers
 10,108,611 35,380,000 497,900,000 557,165,354 557,165,354 55.12 6.35% 7,873,676 1.41%
 Cumulative Distribution to Date Total:
 16,348,219 $63,995,335 $940,100,000 $1,105,134,491 $1,105,134,491 $67.60 5.79% $28,782,098 2.60%
 Cumulative Distribution to Date Average:
 333,637 $1,306,027 $19,185,714 $22,553,765 $22,553,765 $67.60 5.79% $587,390 2.60%

 1 Annualized Monthly Rent (e.g. Monthly Rent due for in Sale Period X 12). Rental Abatement shall be disregarded.
 2 GAAP Basis before depreciation and amortization. The Trust determined that fresh start accounting fair value (not cost) of the investment properties based upon the fair value of the individual assets and liabilities assumed as of the Effective Date (1/31/21).The total fair value of the properties acquired was $1.935 Billion.                                                 
 3 Net of credits provided to Buyer other than pro-rations. Selling costs are not netted in Net Sales Price
 4 Gross Sales Price divided by the Annual Rent as defined above
 5 Selling Costs as percentage of Gross Sales Price. Selling costs may not tie into the Total Expenses of Sale as reported on the Monthly Sources and Uses Report.

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 For additional information, please contact:
 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Retail Portfolio as of Determination Date

 By First Lease Year Rent Per Square Foot Tier: By Property Ownership Type:

 Tier
 Properties Square Feet Current Lease Year
 Rent 1
 Ownership Type
 Properties Square Feet Current Lease Year
 Rent 1

 Tier 1 -$9.00 29 3,680,461 $35,151,613.00 Owned 97 12,698,615 $81,444,537.00
 Tier 2 -$6.00 66 8,405,891 53,522,392.00 Ground Lease 20 2,773,724 17,086,110.00
 Tier 3 -$3.50 10 1,677,440 6,230,396.00
 Tier 4 -$2.00 12 1,708,547 3,626,246.00
 Total: 117 15,472,339 $98,530,647.00 Total: 117 15,472,339 $98,530,647.00

 By Current Lease Year Rent Per Property: By Property Type:
 Tier
 Properties Square Feet Current Lease Year
 Rent 1
 Property Type
 Properties Square Feet Current Lease Year
 Rent 1

 >=$950,000 38 6,115,180 $48,214,596.00 Shopping Center 25 2,512,081 $17,692,069.00
 >=$700,000 & < $950,000 25 3,329,183 21,939,019.00 Freestanding 3 272,888 1,737,545.00
 >=$500,000 & < $700,000 37 3,978,088 22,803,627.00 Mall 89 12,687,370 79,101,033.00
 <=$500,000 17 2,049,888 5,573,405.00
 Total: 117 15,472,339 $98,530,647.00 Total: 117 15,472,339 $98,530,647.00

 1 Current Lease Year Rent = Monthly Rent X 12, excluding rental abatement.

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 For additional information, please contact:
 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Retail Portfolio as of Determination Date (Cont’d)

 By Geography:

 State

 Properties

 Square Feet
 Current Lease Year
 Rent 1

 AR 2 186,745 $1,189,052.00 MS 1 99,396 949,318.00
 AZ 4 492,446 3,746,843.00 NC 1 104,198 221,152.00
 CA 19 2,790,972 19,006,733.00 NH 1 126,006 802,311.00
 CO 2 262,629 1,250,678.00 NJ 4 701,609 3,340,573.00
 CT 3 464,682 986,248.00 NM 2 265,910 2,138,173.00
 FL 6 847,993 7,321,566.00 NV 3 437,937 4,182,681.00
 GA 1 104,872 1,001,619.00 NY 3 469,462 1,702,394.00
 IA 1 85,278 316,742.00 OH 5 645,447 3,718,979.00
 ID 1 151,985 1,451,589.00 OK 3 332,223 1,586,203.00
 IL 5 845,224 4,684,435.00 OR 1 157,928 1,005,567.00
 IN 1 99,317 948,564.00 PA 3 373,019 2,780,265.00
 KS 1 209,535 1,334,161.00 PR 2 185,946 1,183,964.00
 KY 2 251,289 1,932,578.00 TN 2 243,786 933,247.00
 LA 1 124,656 1,190,574.00 TX 19 1,938,187 13,803,789.00
 MA 1 141,692 526,276.00 VA 2 211,452 1,346,368.00
 MD 2 261,580 1,130,487.00 WA 3 506,149 3,772,817.00
 MI 6 863,012 3,926,170.00 WI 1 85,981 547,462.00
 MN 1 173,968 1,107,697.00 Total:
 117 15,472,339 $98,530,647.00
 MO 2 229,828 1,463,372.00

 1 Current Lease Year Rent = Monthly Rent X 12, excluding rental abatement.

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 For additional information, please contact:
 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Distribution Center Portfolio as of Determination Date
 (All Distribution Centers sold in December 2021)

 Property ID
 9005 9130 9132 9316 9435 9486
 Location
 Statesville, NC
 Columbus, OH
 Lenexa, KS
 Reno, NV
 Haslet, TX
 Forest Park, GA

 Square Feet
 New JCP
 — — — — — —
 Other Tenants
 — — — — — —
 Vacant — — — — — —
 Total — — — — — —
 Current Lease Year Rent 1
 New JCP — — — — — —
 Other Tenants
 — — — — — —
 Total — — — — — —
 Current Lease Year Rent -
 PSF 2
 New JCP
 — — — — — —
 Other Tenants
 — — — — — —
 Total — — — — — —

 1 Current Lease Year Rent = Monthly Rent X 12
 2 Current Lease Year Rent PSF = (Monthly Rent X 12) / Square Feet

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 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Landlord and Tenant Option Properties as of Determination Date

 Property ID
 Option Type
 Property Name
 Location
 Square Feet
 Current Lease
 Year Rent 1
 Option
 Notice (Y/N)
 Option Exercise / Closing Date
 246 Landlord SouthBay Pavilion at Carson 20700 Avalon Boulevard, Carson, CA N/A N/A N Property Sold 09-30-21
 389 Landlord Stoneridge S/C 1500 Stoneridge Mall Road, Pleasanton, CA N/A N/A N Property Sold 07-20-22
 1229 Landlord The Oaks 280 Hillcrest Drive W, Thousand Oaks, CA N/A N/A N Property Sold 12-17-24
 1572 Landlord Westfield Culver City 6000 S Hannum Avenue, Culver City, CA N/A N/A N Property Sold 01-06-22
 1959 Landlord The Shops at Tanforan 1122 El Camino Real, San Bruno, CA N/A N/A N Property Sold 09-14-21
 1417 Landlord Westfield Santa Anita 400 S Baldwin Avenue, Arcadia, CA 204,563 759,794.00 N
 1950 Landlord Fashion Valley 6987 Friars Road, San Diego, CA N/A N/A N Property Sold 07-09-21
 2649 Landlord Westminster Mall 400 Westminster Mall, Westminster, CA N/A N/A N Property Sold 10-05-22
 2757 Landlord Park Meadows 8417 S Park Meadows Center Drive, Loan Tree CO N/A N/A N Property Sold 07-29-21
 2256 Landlord Danbury Fair 7 Backus Avenue, Danbury, CT 136,375 289,444.00 N
 2102 Landlord Westfield Annapolis 1695 Annapolis Mall, Annapolis, MD N/A N/A N Property Sold 09-09-22
 1623 Landlord Twelve Oaks Mall 27150 Novi Road, Novi, MI 155,807 578,703.00 N
 2247 Landlord Pheasant Lane Mall 310 Daniel Webster Highway, Suite 103, Nashua, NH N/A N/A N Property Sold 08-25-22
 2297 Landlord Newport Centre 10 Mall Drive W, Jersey City, NJ 185,330 688,358.00 N
 2477 Landlord Freehold Raceway Mall 3710 Highway 9, Freehold, NJ 149,608 317,530.00 N
 2814 Landlord Queens Center 92-59 59th Avenue. Elmhurst, NY N/A N/A N Property Sold 12-23-21
 197 Landlord Gateway Shopping Center I & II 360 Gateway Drive, Brooklyn, NY 123,942 263,056.00 N
 2040 Landlord Barton Creek Square 2901 S Capitol of Texas Highway, Austin, TX N/A N/A N Property Sold 11-30-22
 2763 Landlord The Woodlands Mall 1201 Lake Woodlands Drive, Suite 500, Woodlands, TX N/A N/A N Property Sold 12-15-22
 2795 Landlord Stonebriar Centre 2607 Preston Road, Frisco, TX N/A N/A N Property Sold 07-29-21
 2881 Landlord Memorial City S/C 300 Memorial City Way, Houston, TX N/A N/A N Property Sold 11-03-21
 192 Landlord Fair Oaks Mall 11801 Fair Oaks Mall, Fairfax, VA N/A N/A N Property Sold 09-09-22
 1462 Landlord Springfield Town Center 6699 Springfield Mall, Springfield, VA N/A N/A N Property Sold 09-09-22
 2865 Tenant Tamarack Village 8348 Tamarack Village, Woodbury, MN N/A N/A N Property Sold 12-29-21
 2801 Tenant Polaris Fashion Place 1450 Polaris Parkway, Columbus, OH 146,990 935,922.00 N
 2921 Tenant Robertson's Creek 5751 Long Prairie Road, Flower Mound, TX N/A N/A N Property Sold 11-19-21
 2934 Tenant University Oaks S/C 151 University Oaks, Round Rock, TX N/A N/A N Property Sold 11-19-21
 2982 Tenant Village at Fairview 301 Stacy Road, Fairview, TX N/A N/A N Property Sold 11-19-21
 2749 Tenant Dulles Town Centre 21030 Dulles Town Circle, Sterling, VA N/A N/A N Property Sold 08-29-22
 Total:
 1,102,615 $3,832,807.00

 1 Current Lease Year Rent = Monthly Rent X 12, excluding rental abatement.

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 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Substitution Properties as of Determination Date
 (No Substitution Properties May 2026)

 Property ID

 Property Name

 Property Location
 Substitution Type
 (Outgoing / Incoming)

 Square Feet
 Current Lease
 Year Rent 1

 Notice Date

 Exercise Date

 —  $ — 
 Total:

 1 Current Lease Year Rent = Monthly Rent X 12

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 For additional information, please contact:
 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Monthly Leasing Activity Retail Properties
 (No Leasing Activity May 2026)

 Property ID
 Lease Start Date
 Tenant Name
 Square Feet
 Current Lease
 Year Rent -
 PSF 1
 Current
 Lease
 Year Rent 2
 Real Estate Operating Expenses
 Initial Term (Months)
 Extension Options (Years)
 Tenant Business Description
 Manager Commentary

 —  — $ — 
 Total: —   — $ —  

 1 Current Lease Year Rent PSF = (Monthly Rent X 12) / Square Feet, excluding rental abatement.
 2 Current Lease Year Rent = Monthly Rent X 12, excluding rental abatement.

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 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Summary Select Financial Information

 For copies of our most recent financial statements, including management’s discussion and analysis of financial condition and results of operations, sales and capital activity, you can access our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act at www.ctltrust.net as soon as reasonably practicable after they are filed with, or furnished to, the SEC. You can also review these SEC filings and other information by accessing the SEC’s website at http://www.sec.gov.

 The SEC file number is 000-56236.

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 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 SECTION II
 (Provided Quarterly)

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 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 SECTION III

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 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Management’s Comments
 (Management Commentary will be provided in our 10Q’s and 10K’s)

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 For additional information, please contact:
 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 SECTION IV
 (Provided Quarterly)

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 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 SECTION V
 Definitions and Disclaimers

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 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Monthly Distribution Date Statement
 Definitions
 The following metrics apply to Quarterly Reporting only:

 (A)    “ Tenant’s Sales per Square Foo t” is not a measure of the Trust’s financial performance and is provided solely for investors’ informational purposes based on the information that the Trust receives from the Tenant. This measure of operations is derived from sales information reported to the Trust by the Tenant in accordance with the retail master lease and/or distribution center master lease (each, a “Master Lease”), as applicable. The Trust and the Manager do not have the ability to verify the calculation of this information. The calculation of this information by the tenant may be different than how similar measures of operations might be calculated by others. Finally, the Trust is unable to reconcile “Tenant’s Sales per Square Foot” to a comparable GAAP financial measure because no reconciliation is provided for in the applicable Master Lease. Therefore, investors should be cautious about relying upon “Tenant’s Sales per Square Foot.”

 (B)    “ Tenant’s Four-Wall EBITDAR ” is not a measure of the Trust’s financial performance and is provided solely for investors’ informational purposes based on the information that the Trust receives from the Tenant. This measure of operations is calculated in accordance with the [Master Lease] and is reported to the Trust by the tenant in accordance therewith. The Trust and the Manager do not have the ability to verify the calculation of this measure of operations. In addition, the calculation of “Tenant’s Four-Wall EBITDAR” in accordance with the applicable Master Lease may be different than how similar measures of operating statistic might be calculated by others. Finally, the Trust is unable to reconcile “Tenant’s Four-Wall EBITDAR” to a comparable GAAP financial measure because no reconciliation is provided for in the applicable Master Lease. Therefore, investors should be cautious about relying upon “Tenant’s Four-Wall EBITDAR.”

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 Jessica Cummins at (847) 313-4755
 Distribution Date: 6/10/2026
 Record Date: 6/9/2026
 Determination Date: 5/31/2026

 Monthly Distribution Date Statement
 Disclaimer
 Forward-Looking Statements: This distribution statement contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, statements of expectations, beliefs, future plans and strategies, anticipated results from operations and developments and other matters that are not historical facts. The forward-looking statements are based on our beliefs as well as on a number of assumptions concerning future events. Readers of these materials are cautioned not to put undue reliance on these forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements. We do not undertake a duty to update these forward- looking statements, which speak only as of the date on which they are made. The most important factors that could prevent us from achieving the stated goals include, but are not limited to: (a) the severity, duration and geographical scope of the COVID-19 pandemic and the effects of the pandemic and measures intended to prevent its spread on our business, results of operations, cash flows and financial condition, including declines in rental revenues and increases in operating costs in the portfolio, deterioration in the financial conditions of the tenants and their ability to satisfy their payment obligations, increased risk of claims, litigation and regulatory proceedings and the ability of federal, state and local governments to respond to and manage the pandemic effectively; (b) the ability and willingness of the tenants, operators, managers and other third parties to satisfy their obligations under their respective contractual arrangements, including, in some cases, their obligations to indemnify, defend and hold us harmless from and against various claims, litigation and liabilities; (c) the ability of the tenants, operators, borrowers and managers to maintain the financial strength and liquidity necessary to satisfy their respective obligations and liabilities to third parties; (d) macroeconomic conditions such as a disruption of or a lack of access to the capital markets, changes in the debt rating on U.S. government securities, default or delay in payment by the United States of its obligations; (e) the nature and extent of future competition, including new construction in the markets in which the our properties are located; (f) the ability of the tenants, operators and managers, as applicable, to comply with laws, rules and regulations in the operation of the properties; (g) the ability and willingness of the tenants to renew their leases upon expiration of the leases, the ability to reposition our properties on the same or better terms in the event of nonrenewal or in the event the we exercises our right to replace an existing tenant or manager; and (h) the other factors set forth in the our periodic filings with the Securities and Exchange Commission.

 Non-GAAP Presentation: Certain of the financial measures presented in this distribution statement are non-GAAP financial measures, other metrics and other information. We believe that non-GAAP financial measures, other metrics and other information provide useful information to investors regarding our financial condition, result of operations and other matters. The non-GAAP financial measures, other metrics and information as presented in this distribution statement may be adjusted in management’s reasonable judgment as appropriate, taking into account a variety of circumstances, facts and conditions. These adjustments may be material and may or may not be specifically identified in footnotes or otherwise. Our measures, metrics and other information (and the methodologies used to derive them) may not be comparable to those used by other companies. The foregoing language applies to (and supersedes if different from) the specific definitions contained herein. Readers are cautioned to refer to our periodic filings furnished to or filed with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which are prepared in accordance with GAAP. This distribution statement and the information contained herein should be reviewed in conjunction with such filings.

 SEC Reporting: The information in this distribution statement should be read in conjunction with our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, our earnings press release and other information filed with, or furnished to, the SEC. You can access our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act at www.ctltrust.net as soon as reasonably practicable after they are filed with, or furnished to, the SEC. You can also review these SEC filings and other information by accessing the SEC’s website at http://www.sec.gov. We routinely post important information on our website at www.ctltrust.net in the “Investors” section, including financial information. We intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included on our website under the heading “Investors.” Accordingly, investors should monitor such portion of our website in addition to following our press releases, public conference calls and filings with the SEC. The information on or connected to our website is not, and shall not be deemed to be, a part of, or incorporated into this distribution statement.

 www.ctltrust.net 22

EX-99.2 · cptexhibit992may26dds.htm

Type

EX-99.2

File

cptexhibit992may26dds.htm

Document text
EX-99.2 · cptexhibit992may26dds.htm EX-99.2 3 cptexhibit992may26dds.htm EX-99.2 Exhibit 99.2 FOR IMMEDIATE RELEASE June 5, 2026 Copper Property CTL Pass Through Trust Issues Monthly Reporting Package for May 2026 Jersey City, New Jersey – Copper Property CTL Pass Through Trust (“the Trust”) has filed a Form 8-K containing its monthly report for the period ended May 31, 2026. An aggregate total distribution of $6.9 million or $0.091522 per trust certificate will be paid on June 10, 2026, to certificateholders of record as of June 9, 2026. Additional information, including the Trust’s Monthly and Quarterly Reports, as well as other filings with the Securities and Exchange Commission (“SEC”) can be accessed via the Trust’s website at www.ctltrust.net . About Copper Property CTL Pass Through Trust Copper Property CTL Pass Through Trust (the “Trust”) was established to acquire 160 retail properties and 6 warehouse distribution centers (the “Properties”) from J.C. Penney as part of its Chapter 11 plan of reorganization. The Trust’s operations consist solely of owning, leasing and selling the Properties. The Trust’s objective is to sell the Properties to third-party purchasers as promptly as practicable. The Trustee of the trust is GLAS Trust Company LLC. The Trust is externally managed by an affiliate of Hilco Real Estate LLC. The Trust is intended to be treated, for tax purposes, as a liquidating trust within the meaning of United States Treasury Regulation Section 301.7701-4(d). For more information, please visit https://www.ctltrust.net/. Forward Looking Statement This news release contains certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “our vision,” “plan,” “potential,” “preliminary,” “predict,” “should,” “will,” or “would” or the negative thereof or other variations thereof or comparable terminology and include, but are not limited to, the Trust’s expectations or beliefs concerning future events and stock price performance. The Trust has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Trust believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These factors, including those discussed in the Trust’s Registration Statement on Form 10 filed with the Securities and Exchange Commission (the “SEC”), may cause its actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Trust’s filings with the SEC that are available at www.sec.gov. The Trust cautions you that the list of important factors included in the Trust’s SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this news release may not in fact occur. The Trust undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. CONTACT Larry Finger \| Principal Financial Officer Copper Property CTL Pass Through Trust 310-526-1707 \| lfinger@ctltrust.net Jessica Cummins \| Sr. Vice President, Finance & Accounting Copper Property CTL Pass Through Trust 847-313-4755 \| jcummins@hilcoglobal.com

Document text

EX-99.2 · cptexhibit992may26dds.htm

EX-99.2
3
cptexhibit992may26dds.htm
EX-99.2

Exhibit 99.2

FOR IMMEDIATE RELEASE
June 5, 2026

Copper Property CTL Pass Through Trust Issues Monthly Reporting Package for May 2026

Jersey City, New Jersey – Copper Property CTL Pass Through Trust (“the Trust”) has filed a Form 8-K containing its monthly report for the period ended May 31, 2026. An aggregate total distribution of $6.9 million or $0.091522 per trust certificate will be paid on June 10, 2026, to certificateholders of record as of June 9, 2026.

Additional information, including the Trust’s Monthly and Quarterly Reports, as well as other filings with the Securities and Exchange Commission (“SEC”) can be accessed via the Trust’s website at www.ctltrust.net .

About Copper Property CTL Pass Through Trust
Copper Property CTL Pass Through Trust (the “Trust”) was established to acquire 160 retail properties and 6 warehouse distribution centers (the “Properties”) from J.C. Penney as part of its Chapter 11 plan of reorganization. The Trust’s operations consist solely of owning, leasing and selling the Properties. The Trust’s objective is to sell the Properties to third-party purchasers as promptly as practicable. The Trustee of the trust is GLAS Trust Company LLC. The Trust is externally managed by an affiliate of Hilco Real Estate LLC. The Trust is intended to be treated, for tax purposes, as a liquidating trust within the meaning of United States Treasury Regulation Section 301.7701-4(d). For more information, please visit https://www.ctltrust.net/.

Forward Looking Statement
This news release contains certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “our vision,” “plan,” “potential,” “preliminary,” “predict,” “should,” “will,” or “would” or the negative thereof or other variations thereof or comparable terminology and include, but are not limited to, the Trust’s expectations or beliefs concerning future events and stock price performance. The Trust has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Trust believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These factors, including those discussed in the Trust’s Registration Statement on Form 10 filed with the Securities and Exchange Commission (the “SEC”), may cause its actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Trust’s filings with the SEC that are available at www.sec.gov. The Trust cautions you that the list of important factors included in the Trust’s SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this news release may not in fact occur. The Trust undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

CONTACT
Larry Finger | Principal Financial Officer
Copper Property CTL Pass Through Trust
310-526-1707 | lfinger@ctltrust.net
Jessica Cummins | Sr. Vice President, Finance & Accounting
Copper Property CTL Pass Through Trust
847-313-4755 | jcummins@hilcoglobal.com

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