Mr. Vlad Volodarski reports

CHARTWELL ANNOUNCES ISSUANCE OF $150 MILLION OF 4.211% SERIES B SENIOR UNSECURED DEBENTURES

Chartwell Retirement Residences Real Estate Investment Trust has agreed to issue $150-million aggregate principal amount of Series B senior unsecured debentures. The debentures will bear interest at a rate of 4.211 per cent per annum and will mature on April 28, 2025. The debentures will be unconditionally guaranteed by Chartwell Master Care LP. The debentures are being offered on a reasonable best efforts agency basis by a syndicate of agents bookrun by CIBC Capital Markets, BMO Capital Markets and TD Securities Inc. The offering is expected to close on or about April 27, 2018, subject to satisfaction of customary closing conditions. DBRS Ltd. has assigned a provisional rating of BBB (low) with a stable trend to the debentures. It is a condition to the closing of the offering that DBRS assigns a final rating to the debentures of BBB (low) with a stable trend.

Chartwell intends to use the net proceeds from this offering to repay a portion of existing indebtedness under its secured revolving credit facility.

The offering is being made by way of a private placement to accredited investors in the province of Alberta and pursuant to the minimum amount investment exemption in each of the other provinces of Canada.

About Chartwell Retirement Residences Real Estate Investment Trust

Chartwell is an unincorporated, open-ended trust which indirectly owns and operates a complete range of seniors housing communities from independent supported living through assisted living to long-term care. It is the largest owner and operator of seniors residences in Canada. Chartwell's aim is to capitalize on the strong demographic trends present in its markets to maximize the value of its existing portfolio of retirement residences, and prudently avail itself of opportunities to grow internally and through accretive acquisitions.

We seek Safe Harbor.