Mr. Steve King reports

ALARIS ANNOUNCES $75.3 MILLION INVESTMENT INTO A NEW PARTNER AND A 3% DISTRIBUTION INCREASE

Alaris Equity Partners Income Trust has completed a $75.3-million investment into Kubik LP. Kubik is a full-service designer and fabricator of custom trade show exhibits, brand activations and immersive environments for museums, handling everything from concept and fabrication to installation and logistics for its global clients.

"We are highly impressed with the entire Kubik team and the company's deep, established customer relationships. The company has a track record of over 40 years and long-term relationships with some of the world's largest companies. We look forward to supporting Kubik's growth through operational value creation and disciplined add-on acquisitions, while staying committed to Kubik's consistent, high-quality execution and core corporate values," commented Gregg Delcourt, chief investment officer of Alaris.

"We are excited to partner with Alaris. Alaris's culture and its alignment with founder-led businesses reflects our corporate principles and values. This investment gives us the flexibility to expand and accelerate our service offerings for our customers, while maintaining our high standard of creativity, customer service and fabrication quality," said Elliot Kohn, president of Kubik.

Distribution increase

Alongside the Kubik investment, Alaris is pleased to announce that its board of trustees has approved a 3-per-cent increase to the distribution. The increase brings the quarterly distribution to 38 cents and the annual distribution to $1.52 per trust unit, with the Alaris payout ratio remaining below the trust's 65-per-cent-to-70-per-cent target.

"As part of our strategy and proven track record of providing unitholders with a strong and stable distribution, Alaris has announced a four-cent increase to our annual distribution," said Steve King, president and chief executive officer of Alaris. "The preferred distributions that Alaris will receive from Kubik, increase our pro forma distributable cash by seven cents per unit annually. In keeping with our objectives of maintaining a conservative payout ratio, we have increased the distribution by that same percentage of the new earnings. Expected common distributions and fair value gains provide the potential for further upside moving forward," concluded Mr. King.

Kubik

Founded in 1983 and headquartered in Toronto, Kubik is a full-service provider of custom exhibit fabrication and immersive brand environments, serving Fortune 500 clients across North America and around the globe. The company delivers end-to-end solutions -- from concept and design through fabrication, installation and logistics -- across brand activations, experiential marketing, trade shows, corporate environments, retail spaces, museums and digital activations. Kubik's integrated capabilities enable clients to create high-impact, engaging experiences that strengthen brand presence and customer connection. Kubik maintains a diversified, blue-chip client base, including Philips and Honeywell, and leading automotive OEMs (original equipment manufacturers), such as Kia, Nissan, BMW and Lexus. Its subsidiary, Kubik Maltbie, focuses on permanent exhibits for museums and cultural institutions, providing consulting, project management, fabrication and installation services. Kubik Maltbie has delivered a range of high-profile, award-winning projects, including the United States Holocaust Memorial Museum, the Empire State Building Observatory Experience, the Clinton Presidential Center and the National Constitution Center.

The $75.3-million Kubik investment consists of a $62.5-million investment in debt and preferred equity, as well as an investment of $12.8-million in exchange for a minority common equity ownership in Kubik. The Kubik investment will result in an annualized cash distribution to Alaris of $8.1-million, an initial combined annual yield of 13 per cent and will reset annually plus or minus 8 per cent based on changes in Kubik's revenue. The proceeds from the Kubik investment were used for partial liquidity to existing Kubik shareholders.

About Alaris Equity Partners Income Trust

Through its subsidiaries, the trust invests primarily via structured equity into a growing, diversified group of private businesses. The trust's strategy is designed to deliver stable and predictable returns to unitholders while driving long-term value creation. In addition to generating steady cash distributions, the trust aims to capture capital appreciation as its partners expand. This growth-focused approach is further enhanced by common equity positions, which aligns the trust's interests with those of the founders and allow the trust to participate in the upside of their continued success.

We seek Safe Harbor.