Ms. Renee Wei reports

BOTH LEADING INDEPENDENT PROXY ADVISORS ISS AND GLASS LEWIS RECOMMEND INTERRENT REIT UNITHOLDERS VOTE FOR THE ARRANGEMENT WITH CLV GROUP AND GIC

Both leading independent proxy advisers ISS and Glass Lewis have issued recommendations that unitholders of InterRent Real Estate Investment Trust vote for the previously announced plan of arrangement with Carriage Hill Properties Acquisition Corp. (the purchaser), a newly formed entity owned by CLV Group and GIC, at the coming annual and special meeting of unitholders.

InterRent unitholders (other than certain retained interest holders in respect of their retained units) have an opportunity to receive cash consideration of $13.55 per unit, representing a 35-per-cent premium to InterRent's unaffected closing unit price on the Toronto Stock Exchange as of March 7, 2025, the last trading day prior to media speculation regarding the REIT, and a 29-per-cent premium to InterRent's 90-day volume-weighted average price on the TSX as of May 26, 2025, the last trading day prior to the announcement of the arrangement.

ISS and Glass Lewis are independent proxy advisers, whose voting recommendations are relied on by their subscribers.

In addition to the endorsements from ISS and Glass Lewis, the arrangement has been supported by the fairness opinion of BMO Capital Markets and the formal valuation and fairness opinion of National Bank Financial Markets, both provided to the special committee of InterRent's board of trustees as well as the board.

The board unanimously recommends to unitholders that they vote for the special resolution approving the arrangement at the meeting.

In addition, both ISS and Glass Lewis recommended that unitholders vote for all of the other matters to be voted on at the meeting.

Vote today

Unitholders are reminded that the deadline to vote is fast approaching. To ensure your vote is counted at the meeting, registered unitholders must submit their votes by Thursday, Aug. 21, 2025, at 11 a.m. EDT, or for beneficial unitholders, such earlier time as specified by their intermediaries. InterRent encourages all unitholders to vote today to avoid missing this deadline.

The meeting will be held on Aug. 25, 2025, at 11 a.m. EDT, at the offices of Gowling WLG (Canada) LLP, 160 Elgin St., Suite 2600, Ottawa, Ont., K1P 1C3.

The management information circular and related materials for the meeting can be found under InterRent's SEDAR+ profile, as well as on the REIT's website.

Questions? Need help voting?

If you have questions or need assistance voting, please contact Kingsdale Advisors, InterRent's proxy solicitation agent, at 1-855-476-7989 (toll-free in North America) or 1-647-577-3634 (text and call enabled outside of North America), or by e-mail at InterRent@kingsdaleadvisors.com.

About InterRent Real Estate Investment Trust

InterRent is a growth-oriented real estate investment trust engaged in increasing unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multiresidential properties.

InterRent's strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies and sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and offer opportunities for accretive acquisitions.

InterRent's primary objectives are to use the proven industry experience of the trustees, management and operational team to: (i) to increase both funds from operations per unit and net asset value per unit through investments in a diversified portfolio of multiresidential properties; (ii) to provide unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.

We seek Safe Harbor.