Mr. Jason Shannon reports

CROMBIE REIT ANNOUNCES CHANGES TO BOARD OF TRUSTEES

Crombie Real Estate Investment Trust has made changes to its board of trustees.

Crombie is pleased to announce that Empire Company Ltd. has appointed Sarah MacDonald and Kyle Hartlen to join Crombie's board of trustees, effective July 30, 2025. Ms. MacDonald brings over 20 years of experience in real estate management and transformational leadership and Mr. Hartlen is recognized for his strong background in corporate governance and business strategy. Their appointments replace Heather Grey-Wolf and Jim Dickson, and the board extends its gratitude to Ms. Grey-Wolf and Mr. Dickson for their contributions to Crombie.

Ms. MacDonald joined Algonquin Power & Utility Company in October, 2023, as chief human resources officer and expanded her role in August, 2024, to chief transformation officer. Prior to joining Algonquin, she held various senior leadership roles in her 19-year career at Emera Inc. in Canada, the Caribbean and Florida followed by serving as chief operating officer of EfficiencyOne. Ms. MacDonald holds an LLB from Dalhousie Law School and an MBA from St. Mary's University.

Mr. Hartlen is a partner at Stewart McKelvey in its Halifax office, advising clients on mergers and acquisitions, venture capital investments, and corporate finance transactions across a range of industries. Mr. Hartlen holds a JD/MBA (AMBA Gold Medal) and HBA (Ivey Scholar) from Western University and the Ivey Business School.

"On behalf of Crombie's board of trustees, I would like to sincerely thank Heather and Jim for their dedicated service and valuable contributions during their tenure. We are pleased to welcome Sarah and Kyle, whose diverse experience and leadership will further strengthen our board," said Jason Shannon, board chair.

Ms. MacDonald and Mr. Hartlen were appointed pursuant to Empire subsidiary ECL Developments Ltd.'s right under Section 3.8 of Crombie's amended and restated declaration of trust to appoint up to five trustees, based on ECL's current ownership level and size of the board.

About Crombie Real Estate Investment Trust

Crombie invests in real estate with a vision of enriching communities together by building spaces and value today that leave a positive impact on tomorrow. As one of the country's leading owners, operators and developers of quality real estate assets, Crombie's portfolio primarily includes grocery-anchored retail, retail-related industrial and mixed-use residential properties. As at March 31, 2025, the REIT's portfolio contained 303 properties comprising approximately 18.8 million square feet, inclusive of joint ventures at Crombie's share, and a significant pipeline of future development projects.