PLAZA RETAIL REIT SPECIAL COMMITTEE REVIEWING STRATEGIC ALTERNATIVES

FREDERICTON, NB, Aug. 6, 2026 /CNW/ - Plaza Retail REIT ("Plaza" or the "REIT") (TSX: PLZ.UN) today provided an update to the REIT's press release on July 7, 2026 regarding the unsolicited non-binding proposal (the "Axia Proposal") from Axia Real Assets LP ("Axia") to acquire the REIT. 

The Special Committee of the Board of Trustees of the REIT (the "Special Committee") formed to consider the Axia Proposal has received inbound interest across a range of potential transactions from other parties following the announcement of the Axia Proposal.

The Special Committee is conducting a formal review of strategic alternatives with the assistance of its financial advisor, TD Securities. In addition to the continued review of the Axia Proposal, the review may include (i) potential alternative transactions, including offers for all or part of the REIT and potential merger transactions; and (ii) the status quo, which could include asset sales or purchases, in line with the REIT's strategy.

At the time that the Special Committee decides to solicit proposals from third parties, all qualified parties (including Axia if so qualified) will have an opportunity to participate in such process.

The Special Committee has not set a timetable for the conclusion of the strategic review. No decision related to strategic alternatives or whether Plaza should proceed with any transaction has been made, nor has any agreement been reached with any interested counterparty. There can be no assurance that the Special Committee's review of strategic alternatives will result in any transaction.

Plaza unitholders do not need to take any action at this time. Neither the REIT nor the Special Committee intends to make any further public comment regarding the Axia Proposal or the review of strategic alternatives unless and until it determines that additional disclosure is in the best interests of unitholders or required by law.

Plaza owns and operates an attractive portfolio of primarily necessity-based and performing retail assets that is well-suited to the current retail investment market. The Special Committee, with assistance of its financial and legal advisors, will continue evaluating strategic alternatives in the context of Plaza's business plan with the objective of maximizing value for unitholders.

ABOUT PLAZA

Plaza is an open-ended real estate investment trust and is a leading retail property owner and developer, focused on Ontario, Quebec and Atlantic Canada. Plaza's portfolio at June 30, 2026 includes interests in 189 properties totaling approximately 8.8 million square feet across Canada and additional lands held for development. Plaza's portfolio largely consists of open-air centres and stand-alone small box retail outlets and is predominantly occupied by national tenants with a focus on the essential needs, value and convenience market segments. For more information, please visit www.plaza.ca.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION

Certain statements in this news release contain forward-looking information within the meaning of applicable securities laws (also known as forward-looking statements). These forward-looking statements include, but are not limited to, the Special Committee process, the status of Plaza's consideration of any transaction, the timing of the commencement and conclusion of any formal review of strategic alternatives, Axia's participation in the Special Committee's review of strategic alternatives and the outcome of the review of strategic alternatives. Forward-looking statements are based on a number of expectations and assumptions made in light of management's experience and assumptions and are subject to risks and uncertainties, including those discussed in Plaza's materials filed with the Canadian securities regulatory authorities from time to time. Although based upon information currently available to management and what management believes are reasonable expectations and assumptions, there can be no assurances that forward-looking statements will prove to be accurate. Readers, therefore, should not place undue reliance on any forward-looking statements. Plaza undertakes no obligation to publicly update any such statements, except as required by law. These cautionary statements qualify all forward-looking statements contained in this press release.

SOURCE Plaza Retail REIT

For further information: Jason Parravano, President & Chief Executive Officer, Plaza Retail REIT, Tel: [phone]