Ms. Cecilia Williams reports

ALLIED PROVIDES UPDATE ON DISTRIBUTIONS

Allied Properties Real Estate Investment Trust today provided an update on distributions.

Through the sale of non-core assets in 2024 and 2025, Allied made progress in reducing the indebtedness it incurred to complete the last of its development projects, in several instances at full rather than partial ownership. The non-core sale process will continue in 2026.

Through a series of successful bond offerings, Allied improved its debt profile over the course of 2024 and 2025. With a view to reducing indebtedness and associated interest expense going forward, the trustees of Allied have decided to reduce the monthly distribution to unitholders in December of 2025 and throughout 2026 by 60 per cent to six cents per unit per month (72 cents per unit annualized).

The trustees have declared a distribution of six cents per unit for the month of December, 2025, which will be payable on Jan. 15, 2026, to unitholders of record as at Dec. 31, 2025.

About Allied Properties Real Estate Investment Trust

Allied is a leading owner-operator of distinctive urban workspace in Canada's major cities. Allied's mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied's vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.