Mr. Michel Leonard reports

BTB REIT ANNOUNCES THE APPOINTMENT OF MR. MARC-ANDRE LEFEBVRE AS VICE-PRESIDENT AND CHIEF FINANCIAL OFFICER

BTB Real Estate Investment Trust has appointed Marc-Andre Lefebvre to the position of vice-president and chief financial officer, effective May 27, 2024. Mr. Lefebvre brings extensive expertise in finance as well as solid experience in strategic leadership, which will be essential assets for the development and growth of BTB.

Before joining BTB, Mr. Lefebvre worked as chief financial officer of Kruger Energy, a renewable energy producer operating across the Americas. Prior to that, he spent nearly 19 years at Scotiabank and Scotia Capital, holding various roles in investment banking, specializing in capital markets and corporate banking services for large companies. His deep understanding of financial markets and commitment to operational excellence will be key catalysts in strengthening BTB's position as a leader in real estate investment.

As vic- president and chief financial officer, Mr. Lefebvre will oversee all financial activities of the REIT, including budget management, tax planning, financial reporting and investment strategy.

"We are delighted to welcome Marc-Andre to BTB's management team. His remarkable experience and passion for the real estate industry make him the ideal leader to guide our financial initiatives. We are confident that his thought leadership will strengthen our market positioning and enable BTB to continue to deliver exceptional value to our unitholders," declares Michel Leonard.

"I am excited to join BTB's team and contribute to achieving the REIT's long-term growth objectives," commented Mr. Lefebvre.

His appointment comes at a crucial time in BTB's evolution, as the REIT continues to make strategic investments and maximize value for its stakeholders.

About BTB Real Estate Investment Trust

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

People and their stories are at the heart of the company's success.

BTB offers a distribution reinvestment plan to unitholders whereby the participants may elect to have their monthly cash distribution 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.