Mr. Erin Johnston reports

CHOICE PROPERTIES REAL ESTATE INVESTMENT TRUST COMPLETES ISSUANCE OF $300 MILLION OF SERIES Y SENIOR UNSECURED DEBENTURES

Choice Properties REIT has completed its previously announced issuance, on a private placement basis, in certain provinces of Canada, of $300-million aggregate principal amount of Series Y senior unsecured debentures of the trust, bearing interest at a rate of 4.836 per cent per annum and maturing on Sept. 22, 2033.

The trust intends to use the net proceeds of the offering, together with other available funds, to repay upon maturity its outstanding $350-million aggregate principal amount of 2.456 per cent Series Q senior unsecured debentures due Nov. 30, 2026.

Morningstar DBRS has provided the debentures with a credit rating of BBB (high) with a positive trend and S&P Global Ratings has provided the debentures with a credit rating of BBB plus. The debentures rank equally with all other unsecured indebtedness of the trust that has not been subordinated.

The debentures were sold on an agency basis by a syndicate of agents co-led by TD Securities, CIBC Capital Markets, RBC Capital Markets, BMO Capital Markets and Bank of Nova Scotia. The debentures offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

About Choice Properties REIT

Choice Properties is Canada's largest real estate investment trust, guided by a clear purpose: to create places where people thrive. This is how Choice Properties builds enduring value. As a national owner, operator and developer of high-quality commercial and residential real estate, the trust geso beyond managing assets. It creates places that strengthen how tenants and communities live, work and connect. Choice Properties' platform is built on industry leadership in sustainability, community engagement and social impact, embedded across how the trust operates, builds and grows. As a trusted steward of capital, Choice Properties is committed to disciplined execution, long-term value creation and responsible growth. Everything Choice Properties does is guided by its core values of care, ownership, respect and excellence.

We seek Safe Harbor.