Mr. David Giraud reports

INOVALIS REAL ESTATE INVESTMENT TRUST ANNOUNCES VOTING RESULTS AT ANNUAL GENERAL MEETING OF UNITHOLDERS

Each of the five individuals nominated for election as a trustee of the REIT at the REIT's annual general meeting of unitholders held on May 9, 2023, was elected. Voting results for the individual trustees of the REIT are as shown in the attached table.

The resolution to appoint Ernst & Young Audit (France) as auditor of the REIT for the ensuing year and authorizing the trustees to fix the remuneration to be paid to the auditor was approved by 97.5 per cent of the votes.

The resolution to confirm the rights plan of the REIT, originally adopted on March 29, 2023, was approved by 90.6 per cent of the votes.

About Inovalis Real Estate Investment Trust

Inovalis is a real estate investment trust listed on the Toronto Stock Exchange in Canada. It was founded in 2013 by Inovalis and invests in office properties in primary markets of France, Germany and Spain. It holds 13 assets. Inovalis acquires (indirectly) real estate properties through CanCorpEurope, an authorized alternative investment fund (AIF) by the CSSF in Luxemburg and managed by Inovalis SA.