An anonymous trustee reports

INTERRENT ESTABLISHES AUTOMATIC UNIT PURCHASE PLAN

In connection with InterRent Real Estate Investment Trust's previously announced normal course issuer bid (NCIB) to purchase up to 13,582,032 trust units, it entered into an automatic unit purchase plan (AUPP) with a designated broker. The AUPP is intended to allow for the purchase of units under the NCIB at times when the REIT would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods.

Pursuant to the AUPP, InterRent has instructed the designated broker to make purchases under the NCIB in accordance with the terms of the AUPP. Such purchases will be determined by the designated broker at its sole discretion based on purchasing parameters set by InterRent in accordance with the rules of the Toronto Stock Exchange (TSX), applicable securities laws and the terms of the AUPP. The AUPP has been precleared by the TSX and will be implemented today.

Outside of predetermined blackout periods, units may be purchased under the NCIB based on management's discretion, in compliance with TSX rules and applicable securities laws. The NCIB commenced on May 23, 2023, and ends on May 22, 2024. All purchases made under the AUPP will be included in computing the number of units purchased under the NCIB.

About InterRent Real Estate Investment Trust

InterRent 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) to provide unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.