Mr. Michel Leonard reports

BTB REIT RELEASES INAUGURAL ESG REPORT FOR 2023 AND UNVEILS AMBITIOUS SUSTAINABILITY ROADMAP FOR THE FUTURE

BTB Real Estate Investment Trust has published its inaugural environmental, social and governance (ESG) report, providing a comprehensive overview of sustainability activities throughout the year 2023. Alongside this milestone, BTB is pleased to unveil its ambitious sustainability road map, outlining key initiatives and targets for the coming years.

"We are delighted to present BTB's inaugural ESG report, the culmination of a year-long project that exemplifies our steadfast commitment to sustainability and responsible business practices. Throughout this transformative journey, we questioned our methods, scrutinized our processes and tirelessly sought ways to enhance our approach. Our managers and employees not only embrace the significance of ESG but also play a pivotal role in propelling us toward this milestone. As we release this comprehensive report and unveil our forward-looking sustainability road map, we stand in a strong position to elevate our practices, contribute meaningfully to a more sustainable future for all and create lasting value for all stakeholders," said Michel Leonard, president and chief executive officer.

As a conscientious and forward-looking REIT, BTB understands the importance of openly sharing its ESG performance. This report not only outlines BTB's dedication to sustainable development but also lays the groundwork for BTB's forthcoming initiatives. Moving forward, BTB pledges to release an ESG report annually, providing a comprehensive overview of the REIT's activities and showcasing the achievements that define BTB's commitment to reliable business practices. Annually publishing its ESG reports will enable BTB to monitor emerging regulations and stay abreast of evolving sustainability standards.

Key highlights from the 2023 ESG report

• Environmental stewardship:
  • Execution of climate risk assessment;
  • Progress toward collecting energy usage data in BTB's properties;
  • Implementation of energy-efficient technologies across BTB's portfolio;
  • Introduction of sustainable building materials and practices;
  • Installation and maintenance of 14 rooftop beehives;
  • (Re)certification of off-downtown core office and necessity-based retail properties with Boma Best and LEED;
• Social responsibility:
  • Establishment of an employee recognition program;
  • Participation to community engagement through diverse contributions to local charities and community development initiatives;
  • Enhancement of the relationship with clients through the completion of satisfaction surveys;
  • Prioritization of diversity, equity and inclusion into BTB's work force;
• Governance practices:
  • Strengthened BTB's commitment to ESG at the highest level with the involvement of the board of trustees; Lucie Ducharme, president of the human resources and governance committee, and Luc Martin, president of the audit committee, will set targets and oversee the actions and recommendations of the newly established internal ESG committee;
  • Robust risk management strategies and ethical business practices to ensure accountability and transparency.

Unveiling BTB's sustainability road map

In addition to the aforementioned highlights, BTB's report includes a detailed road map outlining its future initiatives, with a focus on innovation, collaboration and measurable impact.

Key environmental elements of BTB's sustainability road map:

• Create action plan for properties identified in climate risk assessment;
• Complete energy data collecting for off-downtown core office and necessity-based retail properties and implement energy-saving projects;
• Quantify GHG (greenhouse gas) emissions for off-downtown core office and necessity-based retail portfolio;
• Increase Boma Best and LEED certifications to 68 per cent for off-downtown core office and necessity-based retail portfolio by the end of 2024;
• Plan a decarbonation strategy;
• Integrate green lease clauses.

BTB invites stakeholders, including investors, clients, employees and the wider community, to explore the full report, available on BTB's official website.

BTB remains dedicated to advancing its ESG performance and believes that, by embracing ESG principles, the REIT can create a positive and sustainable future for all.

About BTB Real Estate Investment Trust

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