An anonymous trustee reports

BTB ANNOUNCES THE RESULTS OF THE 2023 ELECTION OF TRUSTEES

Each of the trustees nominated in the management information circular dated May 8, 2023, were elected as trustees of BTB Real Estate Investment Trust during the annual general meeting held in Montreal on June 12, 2023.

The details of the election are provided in an attached table.

The results of the final votes regarding all matters subject to a vote during the annual and special meeting of the unitholders are available on the SEDAR website.

BTB welcomes new trustee Armand Des Rosiers

Mr. Des Rosiers has over 40 years of experience in commercial real estate investment, including 32 years with RBC Capital Markets Real Estate Group. Currently managing director at RBC Capital Markets, he recently announced he will be leaving this position on July 31, 2023. In this capacity, he led a team of investment bankers involved in the most important institutional real estate investment and financing transactions in Quebec. Mr. Des Rosiers has always worked in an environment where ethics, integrity and governance are paramount. In January, 2023, he obtained the ICDD designation from the Institute of Corporate Directors. He is a board member of Scleroderma Quebec and of the McCord Museum Foundation. A member of the Quebec Bar since 1978, he holds a bachelor of civil law from McGill University and an MBA from the Ivey Business School at Western University.

About BTB Real Estate Investment Trust

BTB is a real estate investment trust. BTB REIT invests in industrial, off-downtown core office and necessity-based retail properties across Canada for the benefit of investors. As of today, BTB owns and manages 75 properties, representing a total leasable area of approximately 6.1 million square feet.

BTB offers a distribution reinvestment plan to unitholders, whereby the participants may elect to have their monthly cash distributions reinvested in additional units of BTB at a price based on the weighted average price for BTB's units on the Toronto Stock Exchange for the five trading days immediately preceding the distribution date, discounted by 3 per cent.