Mr. Neil Downey reports

FIRST CAPITAL REIT ANNOUNCES ELECTION OF TRUSTEES

First Capital Real Estate Investment Trust has released the results of the election of trustees at its annual and special meeting of unitholders held on April 2, 2024.

The total number of trust units represented by unitholders present or by proxy at the meeting was 154,808,692, representing 72.96 per cent of the trust's issued and outstanding trust units.

Each of the 10 nominees listed in the trust's management information circular dated Feb. 29, 2024, was elected as a trustee. Proxies were received in respect of the election of trustees of First Capital as shown in the attached table.

About First Capital Real Estate Investment Trust

First Capital owns, operates and develops grocery-anchored, open-air centres in neighbourhoods with the strongest demographics in Canada.