Mr. Toby Chu reports

GECC PROVIDES CORPORATE UPDATES

Global Education Communities Corp. has completed the divestment of its remaining Canadian educational assets as of Feb. 28, 2026. This final sale marks the company's strategic evolution into a pure play student housing developer and operator, centred on a project pipeline currently valued at approximately $674-million (based on construction budgets), in addition to eight operational properties across metro Vancouver.

Global Education will retain its recruitment subsidiary, Global Education Alliance (GEA). This strategic retention ensures a direct student recruitment channel from domestic and international markets into Global Education's expanding portfolio of student housing properties across metro Vancouver. Established by Global Education over 10 years ago, GEA has aggregated a network of over 2,000 agents worldwide.

Strategic development milestones

The company is reporting good progress across its primary high-density development projects.

GEC Langara (Vancouver): Following rezoning approval on Jan. 13, 2026, Global Education is moving forward with a 26-storey student-centric rental tower. Once stabilized, the project, which saw a density increase of 159 per cent from original plans, is projected to generate $12.6-million in annual gross rental income.

GEC Oakridge (Vancouver): Construction has reached the 18th floor as of Feb. 27, 2026. The structure is scheduled to be capped off in early March, 2026, with interior work already under way. The project remains on track for completion in March, 2027, with projected annual revenue exceeding $9-million once stabilized.

Education Mega Center (Surrey): A building permit application and excavation permit were filed in late 2025 for this flagship project, with final municipal approvals currently pending.

"We thank the staff at SSLC and VIC for their decade of dedicated service," said Toby Chu, chairman, president and chief executive officer of Global Education. "This divestiture follows our successful sale of Sprott Shaw College in August, 2025. We are now exclusively focused on executing our $674-million construction road map while operating eight GEC properties across metro Vancouver. By streamlining our operations, we can better address the critical shortage of student-centric rental housing in British Columbia."

Mr. Chu added: "Our 2026 outlook includes preparing for the completion of GEC Oakridge, expected in March, 2027, and commencing construction on both GEC Langara and the Education Mega Center. Together, these three flagship properties are expected to generate aggregate gross annual rental revenue exceeding $46.7-million, once stabilized."

About Global Education Communities Corp.

For over 32 years, Global Education has been a leader in Canada's education and student housing landscape. Serving a vibrant community of nearly 10,000 domestic and international students annually, Global Education operates 20 student housing apartments, recruitment centres, campuses and offices in Canada and abroad.

Student housing and education supercentres: Global Education is committed to solving metro Vancouver's critical student housing challenges under the GEC Living brand. Global Education specializes in developing and managing off-campus student-centric rental apartments and pioneering the concept of education supercentres. The GEC portfolio, comprising both operational properties and development budgets for the pipeline, exceeds $1-billion. Global Education provides housing solutions to 95 schools in metro Vancouver, serving domestic and international students from across Canada and 79 countries worldwide.

Education services

Global Education was the owner of Sprott Shaw College, SSLC Language College and SSLC Business College (formerly Vancouver International College) until their divestiture in 2025 and 2026. Global Education's current academic division includes CIBT School of Business & Technology.

As part of its infrastructure, Global Education also owns Global Education Alliance Inc. This student recruitment agency connects students with top-tier North American schools and places students into Global Education's student housing properties. Irix Design is a leading design and media communications firm based in Vancouver.

We seek Safe Harbor.