Ms. Andrea Goertz reports

BOARDWALK REIT ANNOUNCES VOTING RESULTS FROM 2026 ANNUAL MEETING OF UNITHOLDERS

Boardwalk Real Estate Investment Trust has released the results of matters voted on at its annual and special meeting of unitholders held on May 4, 2026, which included the election of all the trustee nominees listed in the trust's management information circular dated March 20, 2026. The voting results for each of the matters considered at the meeting are presented in this news release. All resolutions other than fixing the number of trustees were conducted by ballot.

The total number of units (or Class B units (limited partnership B units) of Boardwalk REIT LP exchangeable into units) represented by unitholders present in person or by proxy at the meeting was 44,073,343, representing 84.35 per cent of the trust's outstanding units (including the LP B units).

Number of trustees

The resolution to fix the number of trustees to be elected at the meeting at no more than seven was passed as detailed in an attached table.

Election of trustees

Seven nominees were elected as trustees by resolution passed by a majority of the unitholders, namely Andrea Goertz, Gary Goodman, James Ha, Sam Kolias, Samantha Kolias-Gunn, Scott Morrison and Brian G. Robinson. Each of the trustees received votes for their election as detailed in an attached table.

Appointment of auditor

Deloitte LLP was reappointed as the auditor of the trust (and the trustees were authorized to fix its remuneration) by resolution passed as detailed in an attached table.

Issuance of unallocated deferred units

The issuance of unallocated deferred units under the trust's deferred unit plan was passed as detailed in an attached table.

Executive compensation advisory vote

The resolution, on an advisory, non-binding basis, to accept the approach to executive compensation disclosed in the compensation discussion and analysis section of the management information circular of the trust dated March 20, 2026, was passed as detailed in an attached table.

About Boardwalk Real Estate Investment Trust

Boardwalk REIT strives to be Canada's friendliest community provider and the first choice in multifamily communities to work, invest and call home with its Boardwalk Family Forever. Providing homes in more than 200 communities, with approximately 34,000 residential suites totalling 30 million net rentable square feet, Boardwalk has a proven long-term record of building better communities, where love always lives. The REIT's three-tiered and distinct brands: Boardwalk Living, Boardwalk Communities and Boardwalk Lifestyle, cater to a large diverse demographic and have evolved to capture the life cycle of all resident family members. Boardwalk's disciplined approach to capital allocation, acquisition, development, purposeful repositioning and management of apartment communities allows the trust to provide its brand of community across Canada creating exceptional resident family member experiences. Differentiated by its peak performance culture, Boardwalk is committed to delivering exceptional service, product quality and experience to its resident family members, who reward the REIT with high retention and market-leading operating results, which in turn lead to higher free cash flow and investment returns, stable monthly distributions, and value creation for all the REIT's stakeholders.

Boardwalk REIT's trust units are listed on the Toronto Stock Exchange, trading under the symbol BEI.UN.