Seaport Entertainment Group (SEG) Issues Corporate Update

Seaport Entertainment Group Inc. (NYSE American: SEG) (“Seaport Entertainment Group,” “SEG” or the “Company”) today provided an update on recent corporate activities:

• Entered into an interim license agreement and long-term lease with Tulum based Grupo Gitano to open its first permanent, year-round New York dining and nightlife experience, GITANO NYC, in 13,605 square feet at Pier 17.
• Hired and onboarded employees of Creative Culinary Management Company LLC (“CCMC”), an indirect wholly owned subsidiary of Jean-Georges Restaurants, and entered into a shared services agreement with CCMC as the Company’s initial step to internalize food and beverage operations at most of its wholly owned and joint venture-owned restaurants at the Seaport.

“We are thrilled to introduce Grupo Gitano’s highly anticipated, exclusive-to-New York City, GITANO NYC to Pier 17,” said Anton Nikodemus, Chairman, President, and Chief Executive Officer of Seaport Entertainment Group. “With its signature blend of Bohemian-inspired design, nightlife, and modern Mexican cuisine, GITANO NYC is an outstanding addition to our collection of world-class waterfront restaurants, offering stunning views of the Brooklyn Bridge and the New York City skyline.”

“We are also excited to take a significant step forward in our journey to internalize food and beverage operations across many of our restaurants at the Seaport,” continued Mr. Nikodemus. “By hiring the CCMC hospitality team and collaborating with our partners at Jean-Georges Restaurants, we are establishing a strong foundation to streamline operations, enhance scalability, and drive efficiency. This strategic initiative positions us to strengthen our hospitality offerings and achieve sustainable, long-term growth through greater operational control.”

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