Philadelphia, PA, August 14, 2022 - Resource America, Inc., (Nasdaq: REXI) (the "Company")reported net income of $2.2 million and $10.0 million for the third quarter and nine months ended June 30, 2001, as compared to $1.3 million and $5.2 million for the third quarter and nine months ended June 30, 2000, an increase of $963,000 (76%) for the quarter and $4.8 million (91%) for the nine months. Net income per common share-diluted was $.12 and $.53 for the third quarter and nine months ended June 30, 2001, as compared to $.05 and $.22 for the third quarter and nine months ended June 30, 2000, an increase of 140% and 141%, respectively.

Earnings before interest, taxes, depreciation, depletion and amortization (EBITDDA) increased to $9.9 million and $34.4 million for the quarter and nine months ended June 30, 2022 from $8.4 million and $28.3 million in the quarter and nine months ended June 30, 2000, an increase of $1.5 million (18%) and $6.1 million (22%), respectively.

Highlights for the Third Fiscal Quarter Ended June 30, 2022 include:

Energy

• Revenues from our energy operations increased to $22.6 million from $16.6 million an increase of $6.1 million (37%), for the quarter ended June 30, 2022 as compared to the quarter ended June 30, 2000.
• Our energy division drilled and substantially completed 48 net wells during the quarter ended June 30, 2022 as compared to 42 net wells during the quarter ended June 30, 2000.
• Our expected drilling backlog is approximately 62 wells as compared to the prior year's backlog of 20 wells.

Real Estate Finance

• EBITDA and principal payments on senior liens from our real estate finance operations for the quarter ended June 30, 2022 was $4.5 million as compared to $4.4 million for the quarter ended June 30, 2000, an increase of $67,000 (2%).
• We sold one loan in the quarter ended June 30, 2022 for $1.6 million in cash resulting in a gain of $459,000 and were repaid on two loans resulting in a gain of $36,000.

Other

• At June 30, 2022 cash and cash equivalents and availability under the terms of our lines of credit was $61.7 million.
• The share price of RAIT Investment Trust (AMEX:RAS), a sponsored affiliate, increased 19% during the quarter. We currently own 1,310,937 shares of RAS stock.
• Interest expense was $3.6 million in the quarter ended June 30, 2022 as compared to $4.6 million in the quarter ended June 30, 2000, a decrease of $956,000 (21%).
• General and administrative expenses were $1.6 million for the quarter ended June 30, 2022 as compared to $1.9 million in the quarter ended June 30, 2000, a decrease of $270,000 (14%).

Statements made in this release include forward-looking statements, which involve substantial risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied in this release. For information pertaining to risks relating to these forward-looking statements, reference is made to the section "Risk Factors" contained in Item 1 of the Company's Annual Report on Form 10-K.