Mr. Shant Poladian reports

SLATE OFFICE REIT ANNOUNCES CHANGES TO BOARD OF TRUSTEES

Slate Office REIT has appointed George Armoyan as chair of the board of trustees and has added Shant Poladian to the board. Sam Altman has stepped down as chair and has also resigned as a trustee. The REIT wishes to thank Mr. Altman for his prior service.

"It has been a busy year for the REIT, and it has become clear that a successful turnaround requires a new strategic direction. As chair, I will be working closely with the board on the restructuring of the REIT and internalization of management," commented Mr. Armoyan.

Shant Poladian will assist the REIT with the internalization of management of the REIT following the previously announced process to terminate the REIT's management agreement with its external manager, Slate Management ULC.

Mr. Poladian has been actively involved as a senior real estate and capital markets professional for more than two decades. Mr. Poladian has served on the board of trustees of Killam Apartment REIT since 2023. He is managing director of Springhurst Capital Corp, a real estate advisory firm, and chief executive officer/co-founder of Junction Realty Partners Inc., a boutique developer of mini-midrise rental apartments in Toronto. Previously, Mr. Poladian was the chief executive officer of FAM REIT, the predecessor to Slate Office REIT. Mr. Poladian holds a bachelor of commerce degree from the University of Toronto and is a professional accountant in both Canada (CPA-CA Ontario) and the United States (CPA -- Delaware).

"I look forward to working with George and the board to reimagine and execute a brighter future for the REIT. As an internally managed REIT, we expect that the REIT will be better aligned to drive value going forward," commented Mr. Poladian.

About Slate Office REIT

The REIT owns and operates a portfolio of well-located commercial real estate assets in North America and Europe. The majority of the REIT's portfolio comprised government and high-quality credit tenants.

We seek Safe Harbor.