New Glasgow, Nova Scotia--(Newsfile Corp. - January 28, 2026) - Crombie Real Estate Investment Trust (TSX: CRR.UN) ("Crombie") today acknowledged the announcement by Empire Company Limited ("Empire") regarding its plans to wind-down and close its Customer Fulfillment Centre (CFC) operations in Alberta while continuing to serve customers in Ontario and Quebec through its Voilà banner, supported by its existing CFCs.

As outlined in Empire's press release today, operations at its CFC in Calgary are included in the scope of its announcement. The Calgary facility identified is Crombie's 100%-owned CFC. Crombie's position at the site remains unchanged, with the existing long-term lease remaining in place. This asset represents 304,000 sq. ft. of GLA within Crombie's 2.46 million sq. ft. retail-related industrial portfolio, which remains fully occupied.

Crombie expects no material financial impact as a result of Empire's announcement.

About Crombie REIT

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 September 30, 2025, our portfolio contained 306 properties comprising approximately 18.8 million square feet, inclusive of joint ventures at Crombie's share, and a significant pipeline of future development projects. Learn more at www.crombie.ca.

This press release contains forward-looking statements that reflect the current expectations of management of Crombie about Crombie's future results, performance, achievements, prospects, and opportunities. Wherever possible, words such as "may", "will", "estimate", "anticipate", "believe", "expect", "intend", "plan", "continue", and similar expressions have been used to identify these forward-looking statements. These statements reflect current beliefs and are based on information currently available to management of Crombie. Forward-looking statements necessarily involve known and unknown risks and uncertainties. A number of factors, including those discussed in the 2024 annual Management's Discussion and Analysis under "Risk Management" and the Annual Information Form for the year ended December 31, 2024 under "Risks", could cause actual results, performance, achievements, prospects, or opportunities to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and a reader should not place undue reliance on the forward-looking statements. There can be no assurance that the expectations of management of Crombie will prove to be correct, and Crombie can give no assurance that actual results will be consistent with these forward-looking statements.

Specifically, this document includes forward-looking statements regarding the existing long-term lease for CFC3 and the anticipated financial impact to Crombie of Empire's announcement, which are based on Empire's publicly announced e-commerce strategy.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281992