Mr. George Lawton reports

NORTH AMERICA HOME FINANCE INC. ANNOUNCES THAT GLENLAKE HIGHVIEW DEVELOPMENT LP (A RELATED PARTY) RECEIVED APPROVAL OF A $102 MILLION CMHC-CERTIFICATE OF INSURANCE FOR PHASE 1 DEVELOPMENT OF THE GLENLAKE PROJECT

Glenlake Highview Development LP, a related party of North America Home Finance Inc., has received a $102.4-million construction financing certificate of insurance for phase 1 of the Glenlake Highview Development project.

The certificate of insurance is for a CMHC-insured first mortgage construction loan, previously disclosed in North America Home Finance's prospectus, supporting the development of a large-scale residential housing project in greater Victoria, B.C. The company received the CMHC approval on April 16, 2026, and is awaiting the financing commitment from the lender.

The financing structure includes a gross loan amount of approximately $102.4-million, comprising a $99.5-million net loan amount plus insurance premium and fees, under the CMHC MLI Select program, reflecting both energy efficiency and affordability criteria.

North America Home Finance, through the NAHF Real Estate Trust, signed an option agreement to purchase a minimum of 40 per cent of the units in phase 1 of the Glenlake project. The Glenlake project is being developed by Glenlake Highview Development.

Major milestone for North America Home Finance's housing equity platform

This certificate of insurance approval from CMHC is a milestone in the expansion of North America Home Finance's strategy to scale its shared-equity housing model across large multifamily developments.

With North America Home Finance's option to acquire a minimum 40 per cent of the units in phase 1 of the Glenlake project, North America Home Finance can participate directly in long-term asset ownership and value creation.

The Glenlake project is designed to deliver high-quality residential housing while enabling the integration of North America Home Finance's shared-equity programs over time, expanding pathways for residents to participate in housing equity growth.

"This is a major step forward for NAHF and for the broader vision of aligning institutional-quality housing assets with the opportunity for equity participation by residents," said chief executive officer George Lawton. "The Glenlake project demonstrates how our model can operate at scale, combining strong institutional financing with innovative housing structures."

Scaling shared-equity housing across communities

North America Home Finance, through NAHF Real Estate Trust, continues to expand its participation in residential housing developments that can support long-term shared-equity conversion strategies.

The company's platform is designed to enable:

• Conversion of rental housing into shared-equity housing over time;
• Participation across a range of housing types and price points;
• Alignment between investors, residents and developers for long-term value creation.

The Glenlake project represents a foundational step in demonstrating how large-scale housing developments can be integrated into this broader residential equity ecosystem.

About North America Home Finance Inc.

North America Home Finance is a Canadian residential real estate finance and asset development company focused on expanding housing access through shared-equity and next-generation ownership pathways. Through its integrated platform, the company develops, acquires and finances residential housing while enabling residents to participate in long-term home equity growth.

About NAHF Real Estate Trust

NAHF is an investment vehicle through which North America Home Finance participates in residential real estate assets, including development projects and income-producing housing properties, supporting the company's long-term housing equity strategy.

We seek Safe Harbor.