Mr. Dan Oberste reports

BSR REIT PUBLISHES LONG-TERM FORWARD GROWTH TARGETS

BSR Real Estate Investment Trust has provided an operational update in advance of its investor tour and company presentation scheduled for the evening of Dec. 10, 2025, in Dallas, Tex. An investor presentation detailing the REIT's updated performance and long-term forward growth targets has been posted to the investor relations section of BSR's website and a transcript of the presentation hosted by BSR's management will also be made available on the investor relations page.

"The strategic plan detailed in our latest investor presentation highlights the REIT's significant growth prospects," said Dan Oberste, the REIT's president and chief executive officer. "The potential for embedded growth in our current portfolio, incremental to our everyday operations, is meaningful and we are excited about the opportunity in front of us."

BSR sees a significant internal growth opportunity in its existing portfolio to capitalize on lease-up potential of non-same community (1) properties, with 250 vacant units as of Sept. 30, 2025, and approximately $4.5-million in total potential revenue. In addition, in 2026, BSR intends to roll out new resident experiential enhancements, including property-wide Internet service and valet trash services across a significant portion of the REIT's portfolio. Further, BSR continues to explore other resident focused initiatives, including continued investment in BSR's existing smart home technology suite, internalization of irrigation and landscaping services, extraction of operational efficiencies, and advancement of BSR's premier resident service and resident review platforms.

As detailed in the newly published investor presentation, the REIT is also providing long-term forward growth targets in order to better assist investors in understanding management's goals regarding the REIT's long-term operational plans. The REIT is targeting approximately 13 cents to 22 cents of incremental FFO (funds from operations) per unit (1) over the three-year period from 2026 to 2028, as outlined in the attached table.

(1) This is a non-GAAP (generally accepted accounting principles) measure that is not recognized under accounting standards issued by the International Accounting Standards Board and does not have a standardized meaning prescribed by IFRS accounting standards.

About BSR Real Estate Investment Trust

BSR Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT owns a portfolio of multifamily garden-style residential properties located in attractive primary markets in the Sunbelt region of the United States.

We seek Safe Harbor.