Mr. Mike Gordon reports

ALTUS GROUP ANNOUNCES SALE OF ITS DEVELOPMENT ADVISORY BUSINESS TO NEWMARK

Altus Group Ltd. has signed a definitive agreement to sell its development advisory business to an affiliate of Newmark Group Inc., a leading commercial real estate adviser and service provider to large institutional investors, global corporations, and other owners and occupiers. The transaction, which is expected to close on Sept. 1, 2026, includes Altus's development advisory operations in North America and Asia-Pacific.

In connection with the transaction, Newmark has expanded its multiyear Argus Intelligence agreement with Altus Group to include Argus Assist, the AI-powered (artificial intelligence) conversational interface. Argus Assist enables users to ask about an asset or portfolio, and it draws on relevant models, workflows and data to generate insights, further enhancing the tools available to Newmark professionals in serving clients.

"The sale of our development advisory business to Newmark marks the successful completion of our planned divestitures for the year and results in Altus being a much more focused company," said Mike Gordon, chair and chief executive officer of Altus. "Having already entrusted our Canadian appraisal business to Newmark in March of 2026, we are confident the development advisory team and capabilities will continue to thrive under their ownership. For Altus, it sharpens our focus on our market-leading valuation solutions, which we're enhancing with AI, analytics, data and market experts to ensure our clients always have the best information to make better real estate decisions."

"We look forward to welcoming Altus's development advisory team to Newmark's management services business," said Roger Anscher, Newmark's chief administrative officer. "Their deep market expertise, client relationships and development advisory capabilities are a strong complement to our platform. We are also excited to start leveraging Argus Assist, which will help our professionals generate insights more efficiently and deliver even greater value to clients. Complex analytical work that previously took days can now be surfaced in moments."

Altus's development advisory business consists of approximately 335 employees across Canada, the United States, Australia and Thailand. The employees joining Newmark through the acquisition will report to Peter Trollope, Newmark global head of occupier solutions.

"Development advisory is increasingly critical as clients navigate more complex decisions around capital investment, project delivery and the performance of their real estate," said Mr. Trollope. "The Altus business brings deep cost management and advisory expertise in infrastructure and large-scale development, diversifying our project management business from both a client and asset perspective, and providing the foundation for a global cost management practice. With leading talent across major markets in Canada, the U.S., Australia and Thailand, the addition reflects our commitment to targeted expansion and strategic investment in the expertise our clients need."

About Altus Group Ltd.

Altus Group is a leading provider of commercial real estate (CRE) intelligence, anchored by Argus -- the industry's go-to software for valuation and performance analytics. For more than two decades, Altus has played a vital role in empowering CRE professionals with the analytics and trusted advice they need to make high-impact decisions with confidence. The world's CRE leaders rely on the company's market-leading solutions and expertise to drive performance and manage risk. Altus Group's people around the world are driving meaningful impact in an industry undergoing unprecedented change -- helping shape the cities where people live, work and build thriving communities.

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