Mr. Edward Fu reports

MINTO APARTMENT REAL ESTATE INVESTMENT TRUST PROVIDES UPDATE ON EXPECTED CLOSING OF GOING-PRIVATE TRANSACTION WITH CRESTPOINT REAL ESTATE INVESTMENTS LIMITED PARTNERSHIP AND MINTO GROUP

All closing conditions have been satisfied (other than conditions that by their nature are only capable of being satisfied on the effective date of the transaction) with respect to the previously announced plan of arrangement pursuant to which an affiliate of Crestpoint Real Estate Investments Limited Partnership will acquire all of Minto Apartment Real Estate Investment Trust's issued and outstanding trust units, other than trust units held directly or indirectly by Minto Properties Inc. and its affiliates and certain senior officers, for $18 per trust unit in cash in accordance with the arrangement agreement dated Jan. 5, 2026, as amended by amending agreements dated March 2, 2026, and July 31, 2026.

The effective date for the transaction is expected to occur on Aug. 6, 2026, subject to the satisfaction of the closing conditions that by their nature are only capable of being satisfied on the effective date of the transaction. The trust units of the REIT are expected to be delisted from the Toronto Stock Exchange at the close of trading on Aug. 6, 2026.

Further details regarding the arrangement are set out in the news release of the REIT dated Jan. 5, 2026, and the REIT's management information circular dated Jan. 29, 2026, each of which is available under the REIT's SEDAR+ profile.

The REIT also announced that, as contemplated by the arrangement agreement, the REIT expects to pay a prorated distribution of 0.719 cent per REIT unit, being a prorated distribution based on the number of days occurring from Aug. 1, 2026, to and including Aug. 5, 2026, to holders of trust units who are entitled to receive the consideration pursuant to the transaction, which the REIT expects to be paid concurrently with the payment of the consideration under the transaction. The REIT does not expect to pay any special non-cash distributions in connection with the closing of the transaction.

About Minto Apartment Real Estate Investment Trust

The REIT 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.

We seek Safe Harbor.