Ms. Renee Wei reports

INTERRENT REIT ANNOUNCES CLOSING OF ARRANGEMENT WITH CARRIAGE HILL PROPERTIES ACQUISITION CORP.

InterRent Real Estate Investment Trust has closed its previously announced plan of arrangement. Pursuant to the arrangement, Carriage Hill Properties Acquisition Corp., a newly formed entity, acquired all of the issued and outstanding units of the REIT, other than certain units held by retained interest holders, for cash consideration of $13.55 per unit. Following the completion of the arrangement, the REIT's property portfolio is now managed by CLV Group Inc. as property manager and CLV Asset Management Inc. as asset manager. The arrangement was completed by way of a statutory plan of arrangement under the provisions of the Business Corporations Act (Ontario).

As a result of the completion of the arrangement, the units of the REIT are expected to be delisted from the Toronto Stock Exchange on or about July 10, 2026, and an application will be made for the REIT to cease to be a reporting issuer.

Consideration for the REIT's units has been remitted by or on behalf of the purchaser to TSX Trust Company as depositary under the arrangement, and will be paid to former unitholders of the REIT as soon as reasonably practicable after the date hereof (or, in the case of registered unitholders, as soon as reasonably practicable after a properly completed and signed letter of transmittal is received by the depositary together with the certificate(s) (if applicable) representing units formerly held).

For additional details regarding the arrangement, please see the management information circular available under InterRent's profile on SEDAR+.

Early warning disclosure

In connection with the completion of the arrangement, the purchaser acquired 133,544,523 units of the REIT, representing 95.48 per cent all of the issued and outstanding units of the REIT. Prior to the consummation of the arrangement, the purchaser did not own, or exercise control or direction over, any units of the REIT. After giving effect to the arrangement, the purchaser holds all of the issued and outstanding units of the REIT (other than certain units of retained interest holders). In connection with the arrangement, the previous trustees of the REIT resigned, the purchaser appointed a new trustee of the REIT, and the purchaser and its affiliates reorganized certain of the REIT's subsidiaries and assets.

An early warning report in connection with the foregoing will be filed under the REIT's profile on SEDAR+. You may also contact Mike McGahan at 1-855-479-1916 to obtain a copy of the report. The registered and records office of the purchaser is 4200 Bankers Hall West, 888 3rd St. SW, Calgary, Alta., T2P 5C5.

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

About CLV Group

Following the transaction, CLV Group now manages more than $7-billion in real estate assets across Canada. Since 1969, CLV Group has built stronger, more resilient portfolios for its investors and partners while delivering long-term value to communities and residents. Supported by a fully integrated real estate management platform, CLV Group offers a complementary suite of services across residential and mixed-use development, acquisitions, investment management, realty, property management, and financial services.

We seek Safe Harbor.