Mr. Michael Cooper reports

DREAM IMPACT TRUST PROVIDES UPDATE ON QUAYSIDE DEVELOPMENT

Dream Impact Trust has provided an investment update on the Quayside project.

"We are pleased to announce the completion of the Quayside partnership reorganization, which is a significant accomplishment at one of our milestone projects," said Michael Cooper, portfolio manager. "Collectively, the trust and Dream Impact Fund now own 100 per cent of the phase 1 multifamily portfolio on a 25-per-cent/75-per-cent basis. Upon completion, phase 1 is expected to comprise 1,100 multifamily rental units, as well as approximately 550 affordable units to be developed in partnership with Waterfront Toronto and the City of Toronto."

In February, 2026, the reorganization of the Quayside partnership was completed. This resulted in splitting the site with its external partner and the trust, and Dream Impact Fund now owning 100 per cent of the phase 1 multifamily rental portfolio on a 25-per-cent/75-per-cent basis. Upon buildout, phase 1 is expected to comprise 1,100 multifamily market rental units, as well as approximately 550 affordable rental units to be developed in partnership with Waterfront Toronto and the City of Toronto. The trust is in the process of securing long-term government affiliated financing for this project. Similar to 49 Ontario, the Quayside project has achieved development charge relief and qualifies for HST waivers. Construction is expected to commence by the end of 2026.

About Dream Impact Trust

Dream Impact is an open-ended trust dedicated to impact investing. Dream Impact's underlying portfolio is composed of exceptional real estate assets reported under two operating segments: development and recurring income, that would not be otherwise available in a public and fully transparent vehicle, managed by an experienced team with a successful record in these areas. The objectives of Dream Impact are to create positive and lasting impacts for its stakeholders through its three impact verticals: environmental sustainability and resilience, attainable and affordable housing, and inclusive communities, while generating attractive returns for investors.

We seek Safe Harbor.