Ms. Heather Fitzpatrick reports

HALMONT PROPERTIES CORPORATION YEAR END RESULTS

Halmont Properties Corp.'s net income for the year ended Dec. 31, 2025, was $19.60-million, as compared with $18.40-million for the year ended Dec. 31, 2024.

In 2025, the company realized the benefits from recent changes made to the quality and nature of its commercial property holdings. These enabled Halmont to achieve a 59-per-cent growth in net commercial property revenues and an effective 30-per-cent increase in net income before fair value changes.

In December, 2025, Halmont invested an additional $50.0-million in George Brown Polytechnic's Toronto Waterfront Campus project, which increased the company's total equity investment to $101.0-million.

Halmont's forest property investments increased during the year by $28.0-million, primarily reflecting additional investments in Haliburton Forest and Macer Forest Holdings, which are exchangeable into shares of Acadian Timber. These investments increased Halmont's effective equity interest in Haliburton Forest to 59.7 per cent and in Acadian to 14.5 per cent.

Halmont intends to maintain a strong balance sheet and opportunistically increase its equity base in order to participate in larger and more attractive investment opportunities should the current political and economic disruptions lead to traditional sources of capital no longer becoming available to other property owners.

As at Dec. 31, 2025, the fully diluted book value of the company's common shares, assuming the conversion of capital notes and convertible preferred shares, increased to 99 cents per share, compared with 92 cents per share at the prior year-end.

We seek Safe Harbor.