Mr. Clinton Keay reports

CROMBIE REIT ANNOUNCES MANAGEMENT CHANGE

Crombie Real Estate Investment Trust's Clinton Keay will be resigning as chief financial officer (CFO), effective Feb. 23, 2024. Mr. Keay will be joining Empire Company Ltd. as senior vice-president, corporate finance.

Kara Cameron, currently vice-president, accounting and financial reporting, at Crombie will serve as interim CFO while a search for a permanent CFO is conducted. Ms. Cameron is a chartered professional accountant with nearly 20 years of experience in progressively senior financial leadership roles, including five years in her current role at Crombie.

"Since joining Crombie in 2019, Clinton has made important contributions to the growth and success of the REIT, as reflected by our financial strength and best in class balance sheet," said Mark Holly, president and chief executive officer. "On behalf of the entire Crombie team, I would like to thank Clinton for all of his contributions during his tenure with the REIT and wish him all the best."

"We are fortunate to have deep bench strength within our finance function and are pleased that Kara will be stepping into the interim CFO role to facilitate a seamless transition while we complete the process of selecting a permanent CFO," Mr. Holly said.

About Crombie Real Estate Investment Trust

Crombie invests in real estate that enriches local communities and enables long-term sustainable growth. As one of the country's leading owners, operators and developers of quality real estate, Crombie's portfolio primarily includes grocery-anchored retail, retail-related industrial and mixed-used residential properties in Canada's top urban and suburban markets. As at Sept. 30, 2023, the trust's portfolio contains 294 income-producing properties comprising approximately 18.7 million square feet, and a significant pipeline of future development projects.

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