Ms. Sandy Rose reports

INTERRENT ANNOUNCES VOTING RESULTS FROM THE 2022 ANNUAL AND SPECIAL MEETING

InterRent Real Estate Investment Trust has released the voting results from its 2022 annual and special meeting of unitholders held on June 20, 2022. Each of the matters voted upon at the meeting is discussed in detail in the REIT's management information circular dated May 11, 2022, and is available on the REIT's website. A total of 111,952,343 units, representing approximately 77.7 per cent of the REIT's issued and outstanding units, were voted in person and by proxy in connection with the meeting. The voting results for each matter presented at the meeting are provided in the associated tables.

1. Election of trustees

The following nominees listed in the information circular were elected as trustees of the REIT until the next annual meeting of the unitholders or until their successors are elected or appointed; the voting results are listed in the associated table.

2. Amendment of deferred unit plan and approval of unallocated units

The amendment to the deferred unit plan to reduce the maximum number of units of the REIT that may be issued under the new performance and restricted unit plan and the deferred unit plan combined, from 7 per cent to 6 per cent of the issued and outstanding units, and to authorize all unallocated units issuable pursuant to such plans as required by the Toronto Stock Exchange every three years, all as more fully described in the information circular, was approved by majority vote. The voting results are listed in the associated table.

3. Approval of performance and restricted unit plan

The new performance and restricted unit plan, as more fully described in the information circular, was approved by majority vote; the voting results are listed in the associated table.

4. Other matters

In addition to the foregoing, unitholders (i) approved and authorized the trustees of the REIT to elect the nominees listed in the information circular as trustees of InterRent Trust and as directors of InterRent Holdings General Partner Ltd., in each case, until the next annual meeting of the unitholders or until their successors are elected or appointed; and (ii) reappointed RSM Canada LLP, chartered professional accountants, as auditors of the REIT until the next annual meeting of the unitholders at remuneration to be fixed by the trustees.

About InterRent Real Estate Investment Trust

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multiresidential properties.

InterRent's strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and offer opportunities for accretive acquisitions.

InterRent's primary objectives are to use the proven industry experience of the trustees, management and operational team to: (i) grow both funds from operations per unit and net asset value per unit through investments in a diversified portfolio of multiresidential properties; (ii) provide unitholders with sustainable and growing cash distributions, payable monthly; and (iii) maintain a conservative payout ratio and balance sheet.