DRI Healthcare Trust Announces Closing of Preferred Securities Refinancing

TORONTO, March 20, 2026 /CNW/ - DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) ("DRI Healthcare") is pleased to announce that it has successfully completed the closing of the previously announced private placement offering of convertible unsecured subordinated debentures (the "Debentures") in the aggregate principal amount of C$108,723,000.

The principal sum of the Debentures bear interest at the rate of 5.75% per annum, payable semi-annually in arrears, and mature on February 28, 2031. The Debentures will be convertible at the option of the holder into units of DRI Healthcare (the "Units") at a conversion price of C$21.99 per Unit (the "Conversion Price"), representing a premium of 30% to the 3-day VWAP of the closing price of the Units on February 27, 2026.

The purchase price for the Debentures was exclusively satisfied through the exchange of US$79,698,000 aggregate principal amount of the outstanding 7.50% Series C preferred securities (the "Preferred Securities"), with such Preferred Securities exchanged at a currency adjusted principal amount equal to the principal amount of Debentures issued. As of the date hereof, an aggregate principal amount of US$35,580,000 of the Preferred Securities remain issued and outstanding.

About DRI Healthcare

DRI Healthcare is a pioneer in global pharmaceutical royalty monetization. Since our founding in 1989, we have deployed more than $3.0 billion, acquiring more than 75 royalties on 50-plus drugs, including Ekterly, Eylea, Keytruda, Orserdu, Remicade, Spinraza, Stelara, Vonjo and Zytiga. The Units are listed and trade on the TSX in Canadian dollars under the symbol "DHT.UN" and in U.S. dollars under the symbol "DHT.U". To learn more, visit drihealthcare.com or follow us on LinkedIn.

Caution concerning forward-looking statements

This news release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information can generally be identified by the use of words such as "expect", "continue", "anticipate", "intend", "aim", "plan", "believe", "budget", "estimate", "forecast", "foresee", "close to", "target" or negative versions thereof and similar expressions. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond DRI Healthcare's control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties are disclosed in DRI Healthcare's most recent annual information form and under "Risk Factors" in DRI Healthcare's Management's Discussion and Analysis. You should not put undue reliance on forward-looking statements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do occur, the actual results, performance or achievements of DRI Healthcare could differ materially from the results expressed in, or implied by, any forward-looking statements. All forward-looking information in this news release speaks as of the date of this news release. DRI Healthcare does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in DRI Healthcare's filings with securities regulators, including its latest annual information form and Management's Discussion and Analysis. These filings are also available at DRI Healthcare's website at drihealthcare.com/investors.

For further information, please contact:

Bill Zhang
Head of Investor Relations
[email protected]

SOURCE DRI Healthcare Trust