FOCUS INDUSTRIAL UK CORP. I FILES FINAL PROSPECTUS AND SETS CLOSING DATE FOR INITIAL PUBLIC OFFERING

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, May 7, 2026 /CNW/ - Focus Industrial UK Corp. I (the "Fund") announced today that it has filed with the securities commissions or similar authorities in each of the provinces of Canada, and obtained a receipt for, a final prospectus (the "Prospectus") for an initial public offering of shares (the "Offering"). The final prospectus qualifies the distribution of a minimum of C$38.5 million (the "Minimum Offering") and a maximum of C$50 million (the "Maximum Offering") of Class A Shares, Class C Shares, Class F Shares and/or Class U Shares of the Fund at a price of C$10.00 per Class A Share, Class C Share and Class F Share and £10.00 per Class U Share. It is expected that the Offering will close on or about May 11, 2026.

The Manager (as defined below) has committed, directly or through an affiliate, to purchase $1,500,000 of the class B limited partnership units (the "UK LP Class B Units") of Focus Industrial TopCo LP, an affiliate of the Fund, if only the Minimum Offering is raised (for total gross proceeds of $40,000,000), which commitment will be reduced by the amount of any proceeds raised above the Minimum Offering. In addition, Focus Industrial Promote LLP, an affiliate of the Fund (the "Carried Interest Holder"), has committed to subscribe for 5% of the aggregate gross proceeds raised pursuant to the Offering and any concurrent private placement and the gross proceeds raised pursuant to the sale of UK LP Class B Units to the Carried Interest Holder and the Manager or its affiliate, if applicable.

The Fund may also raise additional proceeds by way of a private placement of Class C Shares and/or class I shares (the "Class I Shares"), as applicable, provided that the proceeds of any such private placements, together with the proceeds of the Offering, do not exceed the Maximum Offering amount. It is currently expected that the Class I Shares will be offered at a price of C$10.00 per Class I Share to an institutional investor.

The Fund is a corporation established for the primary purpose of investing in a portfolio of income-producing multi-let industrial ("MLI") real estate properties in the United Kingdom ("UK"). Following completion of the Offering, the Fund intends to use the net proceeds from the Offering to indirectly acquire a portfolio of 11 MLI properties ("Properties") located in the UK (the "Initial Portfolio") and to satisfy payment of other acquisition-related costs and capital expenditures. The Manager (as defined below) is targeting deployment of the unallocated portion of the net proceeds of the Offering, if any, to fund future acquisitions of one or more additional Properties and for working capital purposes, including towards distributions, if necessary.

Clear Sky Capital Inc. (the "Canadian Manager"), an affiliate of Clear Sky Capital, Inc. (the "UK Manager", and together with the Canadian Manager, the "Manager"), is the manager and promoter of the Fund. Since its inception in 2009 and through 2025, the UK Manager and its affiliates have acquired or developed approximately US$1.73 billion of real estate and operating asset investments in the United States and the United Kingdom. Investments have been executed through multiple investment vehicles and funded primarily by U.S. and Canadian retail and institutional investors. Over this period, the platform has invested approximately US$644 million towards 134 real estate transactions diversified across its core sectors.

The syndicate of agents for the Offering is being led by CIBC World Markets Inc. and includes Canaccord Genuity Corp., iA Private Wealth Inc., Richardson Wealth Limited and Wellington-Altus Private Wealth Inc. (collectively, the "Agents").

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of the Fund in the United States, nor shall there be any sale of the securities of the Fund in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.

This Offering is being made to the public by prospectus. Access to the Prospectus and any amendment to the Prospectus is provided in accordance with securities legislation relating to procedures for providing access to a prospectus and any amendment. The Prospectus is accessible on SEDAR+ at www.sedarplus.com. An electronic or paper copy of the Prospectus and any amendment to the Prospectus may be obtained, without charge, from CIBC World Markets Inc. by telephone at 1-416-956-6378 or by email at [email protected], by providing such contact with an email address or address, as applicable. Prospective investors should read the Prospectus before making an investment decision.

Forward-looking Statements

This news release contains statements that include forward-looking information within the meaning of Canadian securities laws. These forward-looking statements reflect the current expectations of the Fund and the Manager regarding future events, including statements concerning the use of proceeds of the Offering, the potential issuance of Class I Shares to an institutional investor and the expected closing date of the Offering. In some cases, forward-looking statements can be identified by terms such as "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "seek", "aim", "estimate", "target", "project", "predict", "forecast", "potential", "continue", "likely", "schedule", or the negative thereof or other similar expressions concerning matters that are not historical facts.

Material factors and assumptions used by management of the Fund to develop the forward-looking information include, but are not limited to, the Fund's current expectations about: the expected closing date of the Offering; vacancy and rental growth rates in the UK MLI market; demographic trends in the UK; the realization of property value appreciation and timing thereof; the inventory of MLI properties; the availability of MLI properties for acquisition (other than the Properties comprising the Initial Portfolio) and the price at which such properties may be acquired; the price at which Properties may be disposed and the timing thereof; closing and other transaction costs in connection with the acquisition and disposition of Properties; the availability of mortgage financing and current interest rates; the capital structure of the Fund; the extent of competition for MLI properties; assumptions about the markets in which the Fund intends to operate; expenditures and fees in connection with the maintenance, operation and administration of the Properties; the ability of the Manager to manage and operate the Properties; the global and UK economic environment, including changes in interest rates and the rate of inflation; the impact of negative geopolitical events; foreign currency exchange rates; and governmental regulations or tax laws. While management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.

Although the Manager believes that the expectations reflected in such forward-looking statements are reasonable and represent the Fund's internal projections, expectations and beliefs at this time, such statements involve known and unknown risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, many of which are beyond the Fund's control, may affect the operations, performance and results of the Fund, and could cause actual results in future periods to differ materially from current expectations of estimated or anticipated events or results expressed or implied by such forward-looking statements. Such factors include the risks identified in the final prospectus, including under the heading "Risk Factors" therein. Readers are cautioned against placing undue reliance on forward-looking statements. Except as required by applicable Canadian securities laws, the Fund undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

SOURCE Focus Industrial UK Corp. I

For further information, please contact: Iyngaran Muniandy, Chief Executive Officer, Focus Industrial UK Corp. I, [email protected]; Matthew Collins, Chief Financial Officer, Focus Industrial UK Corp. I, [email protected]