Independent Proxy Advisory Firm Glass Lewis Recommends Minto Apartment Real Estate Investment Trust Unitholders Vote FOR the Proposed Going-Private Transaction with Crestpoint Real Estate Investments Limited Partnership and Minto Group

• The board of trustees of the REIT unanimously (with conflicted trustees abstaining) recommends that Unitholders vote FOR the Arrangement Resolution.
• Your vote is important no matter how many Units you hold. Vote today.
• Unitholders who have questions or need assistance voting their Units may contact the REIT's proxy solicitation agent, Laurel Hill Advisory Group, by calling or texting "INFO" to 1-877-452-7184 (toll free in Canada/U.S.A), 1-416-304-2011 (International), or by email at [email protected].

OTTAWA, ON, Feb. 26, 2026 /CNW/ - Minto Apartment Real Estate Investment Trust (the "REIT") (TSX: MI.UN) is pleased to announce that leading independent proxy advisory firm, Glass Lewis & Co., LLC ("Glass Lewis") has recommended that the holders of trust units (the "Trust Units") of the REIT ("Trust Unitholders") and special voting units (together with the Trust Units, the "Units") of the REIT (together with the Trust Unitholders, "Unitholders") vote FOR a special resolution (the "Arrangement Resolution") to approve the previously announced plan of arrangement (the "Arrangement") involving the REIT, Crestpoint Real Estate (Pine) Limited Partnership ("Crestpoint"), an affiliate of Crestpoint Real Estate Investments Limited Partnership ("Crestpoint Investments") and an affiliate of the Minto Group ("Minto") pursuant to the terms of an arrangement agreement dated January 5, 2026 (the "Arrangement Agreement").

Under the terms of the Arrangement, Crestpoint will acquire all of the Trust Units, other than Trust Units held directly or indirectly by Minto and its affiliates and certain senior officers (the "Retained Interest Holders"), for consideration of $18.00 per Trust Unit in an all-cash transaction (the "Transaction"). The Arrangement Resolution will be considered for approval at the special meeting of Unitholders to be held on March 3, 2026 (the "Meeting").

Board and Special Committee Recommendation

Both the REIT's board of trustees (the "Board") (with conflicted trustees abstaining) and a special committee of independent trustees of the Board determined, in consultation with their financial and legal advisors, that the Arrangement and the transactions contemplated by the Arrangements are fair to Trust Unitholders (other than the Retained Interest Holders) and that the Arrangement and entering into the Arrangement Agreement is in the best interests of the REIT and such Trust Unitholders. Accordingly, the Board unanimously (with conflicted trustees abstaining) recommends that Unitholders vote FOR the Arrangement Resolution.

Details About Minto Apartment REIT's Special Meeting of Unitholders

The Meeting will be held in a virtual-only meeting format, online at www.virtualshareholdermeeting.com/MI2026, on March 3, 2026 at 3:00 p.m. (Eastern Time). The REIT's management information circular, dated January 29, 2026 (the "Circular") and related proxy materials, which provide additional details about the Arrangement and information about how Unitholders can vote their Units are now available under the REIT's issuer profile on SEDAR+ at www.sedarplus.ca and on the REIT's website at https://www.mintoapartmentreit.com/.

Vote Your Units Today

Your vote is important regardless of the number of Units you own.

Unitholders are encouraged to read the Circular and vote your Units well in advance of the proxy voting deadline on Friday February 27, 2006 at 3:00 p.m. (Eastern Time).

Unitholder Questions and Voting Assistance

Unitholders who have questions about the information contained in the Circular or require assistance with voting their Units may contact Laurel Hill Advisory Group, the REIT's proxy solicitation agent and Unitholder communications advisor:

Laurel Hill Advisory Group

Toll-Free: 1-877-452-7184 (for Unitholders in North America)
International: 1-416-304-0211 (for Unitholders outside North America)
Text Message: Text "Info", to 1-416-304-0211 or 1-877-452-7184.
By Email: [email protected]

About Minto Apartment Real Estate Investment Trust

Minto Apartment Real Estate Investment Trust 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 multi-residential properties located in urban markets in Canada. The REIT owns a portfolio of high-quality income-producing multi-residential rental properties located in Toronto, Montreal, Ottawa, Calgary and Vancouver. For more information on Minto Apartment Real Estate Investment Trust, please visit the REIT's website at: www.mintoapartmentreit.com.

About Crestpoint Investments

Crestpoint Real Estate Investments Limited Partnership is an affiliate of Connor, Clark & Lunn Financial Group Ltd. ("CC&L"), a multi-boutique asset management firm whose affiliates collectively manage over $167 billion in assets for individuals, advisors and institutional investors. Established in 1982, CC&L has over 40 years of experience and has grown to be one of Canada's largest independently owned asset management firms with a presence across North America, Europe, and Asia. CC&L's strategies span across equities, fixed income, alternative investments, and multi-assets.

Crestpoint Investments, established in 2010, focuses on commercial real estate and debt investments. Crestpoint Investments collectively manages over $11 billion on behalf of institutional and high-net-worth clients and is one of the fastest growing real estate asset managers across Canada. Crestpoint Investments' strategies span core plus real estate, opportunistic real estate, commercial debt, and segregated funds and co-investments.

About Minto Group

The Minto Group is a premier real estate firm in Canada with a fully integrated real estate investment, development and management platform. Founded in 1955, Minto has built more than 100,000 new homes and continues to own and manage residential and commercial rental properties. With over 1,300 employees in Canada and the United States, the company's expertise spans the full spectrum of real estate investment disciplines. Minto has been recognized by Deloitte as one of Canada's Best Managed Companies.

Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (within the meaning of applicable securities laws) relating to the business of the REIT.  Forward-looking statements and forward-looking information are often, but not always, identified by the use of words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate", "should" and other similar expressions. These statements are based on the REIT's expectations, estimates, forecasts and projections and include, without limitation, statements with respect to the Arrangement, the timing for the Meeting and the proxy voting deadline. These forward-looking statements are based on certain expectations and assumptions made by the REIT, including, without limitation, expectations and assumptions concerning receipt of required approvals and the satisfaction of other conditions to the completion of the Transaction, and that the Arrangement Agreement will not be amended or terminated. There can be no assurance that the proposed Transaction will be completed, or that it will be completed on the terms and conditions contemplated in the Arrangement Agreement.

Forward-looking statements and forward-looking information are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual events or results to differ materially from those discussed in the forward-looking statements and forward-looking information, including, but not limited to: failure to obtain necessary approvals or satisfy (or obtain a waiver of) the conditions to closing the Transaction as contained in the Arrangement Agreement; the occurrence of any event, change or other circumstance that could give rise to the termination of the Arrangement Agreement; material adverse changes in the business or affairs of the REIT; the parties' ability to obtain requisite consents and regulatory approvals; any party's failure to consummate the Transaction when required or on the terms as originally negotiated; the possibility of adverse reactions or changes in business relationships resulting from the announcement or completion of the Transaction; risks relating to the retention of key personnel during the interim period; the possibility of litigation relating to the Transaction; risks related to the diversion of management's attention from the REIT's ongoing business operations; competitive factors in the marketplace in which the REIT operates; interest rates; prevailing economic conditions; and other factors, many of which are beyond the control of the REIT. Additional factors and risks which may affect the REIT, its business and the achievement of the forward-looking statements contained herein are described under the heading "Risk Factors" in the Circular and under the heading "Risks and Uncertainties" in the REIT's management's discussion and analysis dated November 4, 2025, as well as in the REIT's other continuous disclosure filings.

There can be no assurance that forward-looking statements or forward-looking information will prove to be accurate, as actual outcomes and results may differ materially from those expressed therein. Readers should not place undue reliance on any such forward-looking statements or forward-looking information. The forward-looking statements and forward-looking information contained in this news release are made as of the date of this news release and, except as expressly required by applicable law, the REIT assumes no obligation to publicly update or revise any forward-looking statement or forward-looking information, whether as a result of new information, future events or otherwise.

SOURCE Minto Apartment Real Estate Investment Trust

Minto Apartment Real Estate Investment Trust Contact: Edward Fu, Chief Financial Officer, Minto Apartment Real Estate Investment Trust, Tel: [phone]; Crestpoint Real Estate Investments Limited Partnership Contact: Elizabeth Steele, Director, Client Relations, Crestpoint Real Estate Investments Ltd., Tel: [phone]; Minto Group Contact: Paul Baron, Chief Financial Officer, Minto Group, Tel: [phone]