Mr. Robert McKee reports

FIRM CAPITAL PROPERTY TRUST ANNOUNCES RESULTS OF ANNUAL MEETING OF UNITHOLDERS

Firm Capital Property Trust has released the voting results for its annual and special meeting of holders of trust units held on June 5, 2025.

All the matters put forward before unitholders for consideration and approval as set out in the trust's management information circular dated April 23, 2025, were approved by the requisite majority of votes cast at the meeting. In particular, unitholders approved the election of all trustee nominees, the approval of MNP LLP as the trust's auditor, approving for a period of three years, all unallocated options, rights and other entitlements issuable pursuant to the trust's option plan, and approving for a period of three years all unallocated entitlements issuable pursuant to the trust's incentive arrangements, all as described in the circular. The results of the votes on the board of trustees of the trust is as follows.

A total of 9,340,241 units were represented by unitholders in person or by proxy at the meeting, representing approximately 25.3 per cent of the total issued and outstanding units at the record date for the meeting. Full details of the voting results will be posted under the trust's profile on SEDAR+.

About Firm Capital Property Trust

Firm Capital Property is focused on creating long-term value for unitholders, through capital preservation and disciplined investing, to achieve stable distributable income. In partnership with management and industry leaders, the trust's plan is to own as well as to co-own a diversified property portfolio of multiresidential, flex industrial and net lease convenience retail. In addition to stand-alone accretive acquisitions, the trust will make joint acquisitions with strong financial partners and acquisitions of partial interests from existing ownership groups, in a manner that provides liquidity to those selling owners and professional management for those remaining as partners. Firm Capital Realty Partners Inc., through a structure focused on an alignment of interests with the trust, sources, syndicates, and property and asset manages investments on behalf of the trust.

We seek Safe Harbor.