BOTH LEADING INDEPENDENT PROXY ADVISORS ISS AND GLASS LEWIS RECOMMEND INTERRENT REIT UNITHOLDERS VOTE FOR THE ARRANGEMENT WITH CLV GROUP AND GIC

• Institutional Shareholder Services Inc. ("ISS") highlighted the "premium to the trust's unit price on the unaffected date, providing both certain and immediate value"¹
• Glass, Lewis & Co. ("Glass Lewis") stated that the Arrangement "represents an attractive opportunity at which unitholders can realize fair value, full liquidity, and certainty for their investments," adding that, "we believe the proposed transaction represents a favourable outcome for public unitholders at this time"1
• Registered Unitholders are reminded to submit their proxies ahead of the proxy voting deadline of August 21, 2025, or for beneficial Unitholders, such earlier time as specified by their intermediaries
• For questions or help with voting, call Kingsdale Advisors at 1-855-476-7989 (toll-free in North America ) or 1-647-577-3634 (text and call enabled outside North America), or email at [email protected]

OTTAWA, ON, Aug. 14, 2025 /CNW/ - InterRent Real Estate Investment Trust ("InterRent" or the "REIT") (TSX: IIP.UN) announced today that both leading independent proxy advisors, ISS and Glass Lewis, have issued recommendations that unitholders of the REIT ("Unitholders") vote FOR the previously announced plan of arrangement (the "Arrangement") with Carriage Hill Properties Acquisition Corp. (the "Purchaser"), a newly formed entity owned by CLV Group and GIC, at the upcoming annual and special meeting of Unitholders (the "Meeting").

InterRent Unitholders (other than certain retained interest holders in respect of their retained units) have an opportunity to receive cash consideration of $13.55 per unit, representing a 35% premium to InterRent's unaffected closing unit price on the TSX as of March 7, 2025, the last trading day prior to media speculation regarding the REIT, and a 29% premium to InterRent's 90-day VWAP on the TSX as of May 26, 2025, the last trading day prior to the announcement of the Arrangement.

ISS and Glass Lewis are independent proxy advisors, whose voting recommendations are relied on by their subscribers.

In addition to the endorsements from ISS and Glass Lewis, the Arrangement has been supported by the fairness opinion of BMO Capital Markets and the formal valuation and fairness opinion of National Bank Financial Markets, both provided to the Special Committee of InterRent's Board of Trustees (the "Board") as well as the Board.

The Board unanimously recommends to Unitholders that they vote FOR the special resolution approving the Arrangement at the Meeting (the "Arrangement Resolution").

In addition, both ISS and Glass Lewis recommended that Unitholders vote FOR all of the other matters to be voted on at the Meeting.

Vote Today

Unitholders are reminded that the deadline to vote is fast approaching. To ensure your vote is counted at the Meeting, registered Unitholders must submit their votes by Thursday, August 21, 2025, at 11:00 a.m. (EDT), or for beneficial Unitholders, such earlier time as specified by their intermediaries. InterRent encourages all Unitholders to vote today to avoid missing this deadline.

The Meeting will be held on August 25, 2025, at 11:00 a.m. (EDT) at the offices of Gowling WLG (Canada) LLP, 160 Elgin Street, Suite 2600, Ottawa, Ontario K1P 1C3.

The management information circular (the "Circular") and related materials for the Meeting can be found under InterRent's SEDAR+ profile at www.sedarplus.ca, as well as on the REIT's website at www.interrentagm2025.com.

Questions? Need Help Voting?

If you have questions or need assistance voting, please contact Kingsdale Advisors, InterRent's proxy solicitation agent, at 1-855-476-7989 (toll-free in North America) or 1-647-577-3634 (text and call enabled outside North America), or by email at [email protected].

About InterRent

InterRent is a growth-oriented real estate investment trust engaged in increasing unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.

InterRent's strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and offer opportunities for accretive acquisitions.

InterRent's primary objectives are to use the proven industry experience of the trustees, management and operational team to: (i) to grow both funds from operations per unit and net asset value per unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.

About CLV Group

Since 1969, CLV Group has been dedicated to building stronger, more resilient portfolios for its investors, partners, communities, and most importantly, our valued residents, through a fully integrated real estate management platform. By adeptly navigating the market, the CLV Group team has optimized a range of complimentary services spanning residential and mixed-use development, acquisitions, investment portfolios, construction, realty, and property management.

Firmly rooted in a commitment to fostering sustainable, inclusive communities, CLV Group offers solid risk-adjusted returns supported by a robust portfolio of real estate assets nationwide. With $3 billion in assets under management, over 5 million square feet of development in its pipeline, and a wide range of residential units, CLV Group's track record itself proudly speaks to its relentless pursuit of excellence.

About GIC

GIC is a leading global investment firm established in 1981 to secure Singapore's financial future. As the manager of Singapore's foreign reserves, GIC takes a long-term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. Its long-term approach, multi-asset capabilities, and global connectivity enable it to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 2,300 people in 11 key financial cities and has investments in over 40 countries. For more information, please visit www.gic.com.sg or follow on LinkedIn.

Cautionary Statement and Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements generally include, but are not limited to, statements with respect to management's beliefs, plans, estimates and intentions, and similar statements concerning the Arrangement, the ability to complete the Arrangement and the other transactions contemplated by the arrangement agreement and the timing thereof, including the parties' ability to satisfy the conditions to the consummation of the Arrangement, the timing of the Meeting, the hearing date of the application for the final order of the court, the receipt of the required unitholder approvals, regulatory approvals, consents and approvals of Canada Mortgage and Housing Corporation ("CMHC") and certain existing lenders and court approval and other customary closing conditions, the possibility of any termination of the arrangement agreement in accordance with its terms, and the expected benefits to InterRent and its unitholders and other stakeholders of the Arrangement, and other statements that are not historical facts. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of InterRent to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: the Arrangement and the terms thereof; the place and time of the Meeting; and regulatory, court, unitholder, CMHC and lender approvals; the possibility that the Arrangement will not be completed on the terms and conditions, or on the timing, currently contemplated, or that it may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required regulatory, CMHC and certain existing lenders consent, unitholder and court approvals and other conditions to the closing of the Arrangement or for other reasons; the negative impact that the failure to complete the Arrangement for any reason could have on the price of InterRent's securities or on its business; the Purchaser's failure to pay the consideration at closing of the Arrangement; the failure to realize the expected benefits of the Arrangement; the restrictions imposed on InterRent while the Arrangement is pending; the business of InterRent may experience significant disruptions, including loss of clients or employees due to Arrangement-related uncertainty, industry conditions or other factors; risks relating to employee retention; the risk of regulatory changes that may materially impact the business or the operations of InterRent; the risk that legal proceedings may be instituted against InterRent; significant Arrangement costs or unknown liabilities; and risks related to the diversion of management's attention from InterRent's ongoing business operations while the Arrangement is pending; and other risks and uncertainties affecting InterRent. For more information on the risks and uncertainties affecting InterRent, please refer to the "Forward-Looking Statements" section of InterRent's Management's Discussion and Analysis for the year ended December 31, 2024, and Annual Information Form for the financial year ended December 31, 2024 (the "AIF"), the "Cautionary Statement Regarding Forward-Looking Information" section of the Circular, as well as the "Risk Factors" section of the AIF and the Circular.

Although the forward-looking information contained herein is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. InterRent has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, however, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. InterRent does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

¹ Permission to quote from ISS and Glass Lewis was neither sought nor obtained.

SOURCE InterRent Real Estate Investment Trust

Contacts Investor Inquiries, Renee Wei, Director of Investor Relations & Sustainability, [email protected]