Mr. Anthony Cohen reports

GULF & PACIFIC EQUITIES CORP. REPORTS ON 2025 YEAR-END RESULTS WITH REVENUE OF $4,627,181, ANNOUNCES CFO APPOINTMENT, ADOPTS SEMI-ANNUAL FINANCIAL REPORTING, AND REFINANCED MORTGAGES DUE

Gulf & Pacific Equities Corp. had a 1.0-per-cent decrease in revenue to $4,627,181 in the year ended Dec. 31, 2025, from $4,673,950 at the same period last year.

Details of the 12 and three months financial results for fiscal 2025 and 2024 under international financial reporting standards (IFRS), as summarized below, are also available at SEDAR+ or the company's website.

The company is pleased to announce the appointment of Daniel Steinertas as chief financial officer, effective May 1, 2026, subject to regulatory approvals. Mr. Steinertas has over 14 years of financial and real estate experience, including roles in investment analysis, mortgage financing and real estate operations. Greg K.W. Wong will retire as chief financial officer, effective April 30, 2026, after more than 21 years of service to the company. Mr. Wong will continue to serve as director and corporate secretary to the company.

"I would like to sincerely thank Mr. Greg Wong for his 21 years of service for Gulf & Pacific Equities Corp. and its shareholders. It was always a pleasure working with Greg, and he is the ultimate professional. We wish Greg well in his retirement, and look forward to working with Daniel going forward," said Anthony Cohen, president and chief executive officer.

The company also announces that, following its board of directors meeting held on April 23, 2026, it will adopt semi-annual financial reporting in accordance with Coordinated Blanket Order 51-933 -- Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers, issued by the Canadian Securities Administrators. Accordingly, the company will no longer file interim financial statements and MD&A (management's discussion and analysis) for the first and third quarters. The next financial disclosure will be for the six months ending June 30, 2026.

The company is pleased to announce that it has refinanced four mortgages due April 1 and April 4, 2026, with new mortgages at a term of two years at fixed rates. Three mortgages will mature on April 1, 2028, at 5.00 per cent. One mortgage will mature on April 4, 2028, at a rate of 5.00 per cent.

About Gulf & Pacific Equities Corp.

Gulf & Pacific Equities was incorporated under the laws of the Province of Alberta on April 8, 1998, and thereafter completed a public offering of common shares by prospectus dated June 26, 1998 (TSX-V: GUF).

The company acquires, manages and develops anchored shopping malls in Western Canada's rural centers, particularly Alberta. Gulf & Pacific targets smaller, rapidly growing hub communities serviced with hospitals, high schools, police stations and retail service infrastructures. Management has consistently reinvested cash flow to improve and expand its portfolio of income properties.

Gulf & Pacific Equities owns three well-located retail assets in Three Hills, St. Paul and Cold Lake, Alta.

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