Mr. Stephen Griggs reports

GENESIS LAND DEVELOPMENT CORP. ANNOUNCES THE RETIREMENT OF IAIN STEWART AND APPOINTMENT OF PS SIDHU AS PRESIDENT AND CEO

Iain Stewart has retired as Genesis Land Development Corp.'s president and chief executive officer and the company has appointed Parveshindera (PS) Sidhu as president, chief executive officer and a director of Genesis, both effective June 30, 2025.

Mr. Stewart has been a director of Genesis since August, 2013, and was appointed president and chief executive officer in 2018. Mr. Stewart will continue as a member of the board of directors.

"On behalf of the board of directors and shareholders, I would like to thank Iain for his leadership and dedication," said board chair Stephen Griggs. "Iain developed our growth-oriented strategy, steered the company through the challenges of the global pandemic and delivered the strongest financial years in company history. During his tenure, Genesis more than tripled its home and lot production and sales, more than doubled its asset base to $585-million, and generating record earnings of almost $40-million in 2024."

Mr. Stewart said: "I am very proud of what we have achieved at Genesis in the last decade, and especially during my time as CEO. I am confident that Genesis is well positioned to build off the company's recent successes under PS's leadership. I would like to thank the entire Genesis team, the board of directors and our key shareholders for their support and guidance."

Mr. Sidhu has been with Genesis since 2005 and has been taking on increasingly senior roles as a part of his executive development, most recently as president and chief operating officer, prior to which he was president of Genesis Builders Group Inc. (GBG) for a number of years.

"PS has been integral to Genesis's growth for nearly 20 years, leading GBG's transition from a small home builder of less than 150 homes annually, to one that is a focused production home builder operating in 15 communities in the Calgary Metropolitan Area producing and selling over 400 homes per year," commented Mr. Griggs. "The board looks forward to working closely with PS as he leads the strong team building Genesis for years to come."

"I am excited to take on the role of CEO of Genesis at an important time in its growth as a significant land developer and home builder in the Calgary area," said Mr. Sidhu. "I look forward to continuing to work closely with our exceptional management team and with our board to grow Genesis in the years to come."

In addition to Mr. Sidhu, the Genesis executive team comprised:

• Brian Whitwell, chief investment officer;
• Rob Sekhon, chief financial officer;
• Travis McArthur, senior vice-president and general counsel;
• Brendan McCashin, senior vice-president, land development;
• Mike deBoer, vice-president, homebuilding;
• Virat Reddy, vice-president, finance and technology.

About Genesis Land Development Corp.

Genesis is an integrated land developer and residential home builder operating in the Calgary Metropolitan Area holding a portfolio of well-located, entitled and unentitled primarily residential lands and serviced lots.

We seek Safe Harbor.