Mr. Edward Fu reports

MINTO APARTMENT REIT OBTAINS UNITHOLDER APPROVAL FOR GOING-PRIVATE TRANSACTION WITH CRESTPOINT REAL ESTATE INVESTMENTS LIMITED PARTNERSHIP AND MINTO GROUP

At Minto Apartment Real Estate Investment Trust's special meeting of unitholders held earlier today, holders of the REIT's trust units and special voting units voted overwhelmingly in favour of the special resolution approving the previously announced plan of arrangement pursuant to which, among other things, Crestpoint Real Estate (Pine) LP, an affiliate of Crestpoint Real Estate Investments LP, will acquire all of the trust units, other than trust units held directly or indirectly by Minto Properties Inc. and its affiliates and certain senior officers, for consideration of $18 per trust unit in an all-cash transaction, in accordance with the arrangement agreement dated Jan. 5, 2026.

The arrangement resolution required approval of: (i) at least two-thirds of the votes cast by unitholders; and (ii) a simple majority of the votes cast by holders of trust units, excluding the retained interest holders and any other trust unitholder required to be excluded under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions.

The attached table is a summary of the votes cast at the special meeting (including votes by proxy and virtually at the special meeting) by unitholders on the arrangement resolution.

The REIT's full report of voting results on the matter presented at the special meeting and the management information circular of the REIT dated Jan. 29, 2026, which was mailed to unitholders in connection with the transaction, can be found on SEDAR+.

The final order of the Ontario Superior Court of Justice (Commercial List) approving the transaction will be sought on March 6, 2026. Completion of the transaction remains subject to receipt of the final order, approval under the Competition Act (Canada), and the consent of Canada Mortgage and Housing Corporation and certain lenders to the REIT, as well as other customary closing conditions. As of the date of this news release, the REIT anticipates that the transaction will be completed in the second half of 2026.

About Minto Apartment Real Estate Investment Trust

Minto Apartment is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario to own income-producing multiresidential properties located in urban markets in Canada. The REIT owns a portfolio of high-quality income-producing multiresidential rental properties located in Toronto, Montreal, Ottawa, Calgary and Vancouver.

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