Mr. Vlad Volodarski reports

CHARTWELL ANNOUNCES BOARD RENEWAL PLAN AND NEW DIRECTOR AND EXECUTIVE APPOINTMENTS

Chartwell Retirement Residences Real Estate Investment Trust has released a board renewal plan, reinforcing its strong commitment to corporate governance and a thoughtful approach to succession planning.

Chartwell's board renewal strategy is guided by a robust evaluation process and a commitment to balancing experience with fresh perspectives. As part of its long-term succession planning, over the next four years, Huw Thomas, Brent Binions and Sharon Sallows expect to leave the board, and Gary Whitelaw expects to assume the responsibility of board chair. Mr. Thomas, Mr. Binions and Ms. Sallows are the most tenured directors on the board. The compensation, governance and nominating committee of the board will continue its work evaluating required skills to enable successful execution of Chartwell's strategy, and has developed an evergreen list of potential directors to ensure a balanced and diverse board.

As part of this strategy, Chartwell is pleased to announce the appointment of Rael Diamond to the board of Chartwell Master Care Corp., effective Jan. 1, 2026. Mr. Diamond, president, chief executive officer and trustee of Choice Properties REIT, offers deep expertise in real estate investment, capital markets and corporate finance. His leadership in managing one of Canada's largest REITs positions him to be a valuable contributor to Chartwell's strategic and investment decisions. He is a financial expert holding CPA and CA designations, and has previous experience as a chief financial officer of several large public real estate organizations.

Huw Thomas, chair of the board, stated: "We are thrilled to welcome Rael to our board as part of our ongoing board renewal efforts. His exceptional business acumen and deep expertise in real estate, finance and capital markets will strengthen our governance and support our strategic objectives. Rael's background of managing complex real estate portfolios will be a tremendous asset to Chartwell."

James Scarlett and Ann Davis have decided to step down as trustees of Chartwell and directors of CMCC, effective Jan. 1, 2026.

Ms. Davis joined the board in 2017 and has been an important leader with respect to financial oversight and risk management. As chair of the audit committee and a member of the compensation, governance and nominating committee, she played a critical role in enhancing Chartwell's financial governance and risk oversight. Her diligence and commitment will leave a lasting impact on the organization.

Mr. Scarlett has served on the board since 2019. During his tenure, he made substantial contributions to the compensation, governance and nominating committee, helping to shape executive compensation policies and strengthen governance practices, as well as to the audit committee. His thoughtful leadership and strategic insight have been instrumental in guiding Chartwell through key initiatives.

"Ann and Jamie have been exceptional stewards of Chartwell's mission and values. Their contributions to our governance, strategic direction and committee leadership have been invaluable. We are deeply grateful for their years of dedicated service and the legacy they leave behind," commented Mr. Thomas.

Effective Jan. 1, 2026, Alka Gautam will assume the role of chair of the audit committee. Ms. Gautam, a CPA, brings extensive financial and audit expertise to this function as former chief executive officer, chief financial officer, chief risk officer and chief operating officer of RGA Canada, and has demonstrated strong leadership since joining the board of CMCC in January, 2025.

Effective Jan. 1, 2026, Ms. Gautam and Mr. Diamond will be appointed as trustees of Chartwell, in addition to their service as directors of CMCC.

Chartwell continues to be recognized as a leader in governance excellence. In 2025, Chartwell ranked in the top 10 per cent of The Globe and Mail's board games publication, earned recognition in the women lead here report for its commitment to gender diversity and was honoured with the top gun board designation by Brendan Woods International. These accolades reflect Chartwell's dedication to maintaining a high performing, diverse and forward-thinking board dedicated to Chartwell's vision of making people's lives better.

"Our board renewal plan demonstrates Chartwell's strategic, forward-thinking approach to succession and continuity for Chartwell," added Mr. Thomas. "Rael's addition to the board will increase the breadth and depth of expertise on the board in the areas of real estate, investments and capital markets. Chartwell's thoughtful approach to board renewal is an example of our leadership in corporate governance."

Appointment of chief technology officer

Chartwell is pleased to announce the appointment of Gordon Chiu as chief technology officer, effective Jan. 1, 2026, underscoring the growing importance of technology in shaping the future of senior living.

Mr. Chiu has been a senior executive at Chartwell for nearly a decade, during which he built an exceptional team of technology professionals and drove numerous innovations across the organization. In his expanded role, Mr. Chiu will join Chartwell's senior executive committee and will support the board in fulfilling its responsibilities for oversight of technology, including systems, cybersecurity and artificial intelligence.

Prior to joining Chartwell, Mr. Chiu held senior leadership roles at Barrick Gold Corp., Fujitsu Consulting, Cognicase/Personus Inc. and EDS Consulting, where he gained extensive experience in global information technology strategy, digital transformation and operational excellence.

"Technology is a critical component of our business strategy, and its importance to the organization will continue to grow in the future," commented Vlad Volodarski, chief executive officer of Chartwell. "Under Gordon's leadership, we will continue to leverage technology and drive innovation to deliver exceptional resident experiences and enhance efficiency in supporting our residence teams."

About Chartwell Retirement Residences Real Estate Investment Trust

Chartwell is in the business of serving and caring for Canada's seniors, committed to its vision of making people's lives better and to providing a happier, healthier and more fulfilling life experience for its residents. Chartwell is an unincorporated, open-ended real estate trust which indirectly owns and operates a range of seniors housing communities from independent living through to assisted living and long-term care. Chartwell is one of the largest operators in Canada, serving approximately 25,000 residents in four provinces across the country.

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