PADLOCK EURO STORAGE FUND I COMPLETES SUCCESSFUL ACQUISITION OF ASSETS OF PADLOCK PARTNERS UK FUND IV BY WAY OF A PLAN OF ARRANGEMENT

TORONTO, May 14, 2025 /CNW/ - Padlock Euro Storage Fund I ("Euro Fund") today announced that it has completed the previously announced plan of arrangement (the "Arrangement") pursuant to which, among other things, Euro Fund indirectly acquired all of the assets of Padlock Partners UK Fund IV ("Fund IV"), resulting in the consolidation of the assets of Euro Fund and Fund IV (the "Merged Fund").

As a result of the Arrangement, the Merged Fund's portfolio now comprises 25 self-storage assets across four UK primary markets and aggregating 1,025,094 square feet of maximum lettable area. In addition, pursuant to the Arrangement, Fund IV was dissolved.

Following the Arrangement, holders of units of Euro Fund continue to hold Merged Fund units, Series 1, Series 2 and Series 3, while previous holders of units of Fund IV now hold Merged Fund units, Series 4.

About Padlock Euro Storage Fund I

The Merged Fund is an unincorporated investment trust formed under the laws of the Province of Ontario and was established for the primary purpose of investing in a diversified portfolio of income producing commercial real estate properties in the United Kingdom and Spain, with a focus on self-storage and mixed-use properties. Currently, the Merged Fund has acquired self-storage properties in Bicester, Letchworth, Leighton Buzzard, Wimbledon, Chippenham, Enfield, Huntingdon, Brentwood, Newmarket, Houghton Regis, Brighton, Watford, Woking, Southend-on-Sea, Seaford, Mitcham, Sittingbourne, Gillingham, Edmonton, Haverhill, Newbury, Chippenham, Sidcup, Wisbech and Swindon.

SOURCE Padlock Euro Storage Fund I

To learn more about the Merged Fund, contact: Iyngaran Muniandy, Chief Executive Officer, Padlock Euro Storage Fund I, [email protected]; Matthew Collins, Chief Financial Officer, Padlock Euro Storage Fund I, [email protected]