Mr. Scott White reports

INVESQUE INC. REPORTS SECOND QUARTER 2023 RESULTS

Invesque Inc. has released its results for the three and six months ended June 30, 2023.

Second Quarter and Subsequent Highlights

The Company had a busy second quarter, continuing to streamline and strengthen the portfolio through dispositions, operator transitions, and an acquisition. As previously announced:

• On April 1, the Company entered into a 15-year lease with Chapters Living to manage three standalone memory care communities that were previously managed by Memory Care of America.
• On April 7, the Company sold the MetroWest Medical Center in Orlando, Florida, for US$6.4 million, utilizing proceeds to repay indebtedness associated with its remaining medical office buildings.
• On April 10, the Company acquired a 34-unit memory care community in Carrollton, Texas, which was subsequently leased to Constant Care Management Company pursuant to a long-term lease.
• The Company sold seven assets previously leased to SymCare during the second quarter, and the eighth and final asset was sold in early July, at which time Invesque ceased to lease any properties to SymCare. The total sales price for the eight skilled nursing facilities was US$121 million.
• Adlai Chester assumed the role of Chief Financial Officer in addition to EVP -Investments, effective August 1.
• On August 7, the Company announced that, in connection with the ongoing negotiations with its primary credit facility lender, it has agreed to certain payment restrictions on the amount that the Company will pay debentureholders towards the partial redemption currently scheduled to occur on September 30, 2023, of the Company's 8.75% convertible debentures due on September 30, 2026 (the "Debentures").
• Reported funds from operations ("FFO")1 of US$0.10 and US$0.22 per common share for the three- and six-months ending June 30, 2023. The Company reported adjusted funds from operations ("AFFO")2 of US$0.10 and US$0.22 per common share for the three- and six-months ending June 30, 2023.

"Our team executed on a number of critical matters over the last 90 days. I am very pleased that we accomplished the sale of the SymCare portfolio, which represents a huge step in our efforts to become a predominantly private pay seniors housing portfolio," commented Scott White, Chairman & Chief Executive Officer. "Our primary focus is on extensions of our largest credit facility and the partial redemption of the Debentures. We also remain vigilant about the assets comprising our portfolio and ensuring that we have the right operator in each of those assets. I am proud of our efforts year to date and believe that our Company is prepared to take advantage of the significant demand for seniors housing projected the coming years."

Investor Conference Call

A conference call hosted by the Company's executive team will be held on August 14, 2023, at 10:00 AM EST. The dial-in numbers for the conference call are Local Toronto: (416) 764-8650, or North American Toll-Free: (888) 664-6383. The conference will also be available via webcast at https://www.invesque.com/company-presentations/. Please log on at least 15 minutes before the call commences. The telephone numbers to listen to the call after it is completed (taped replay) are Local: (416) 764-8677, or North American Toll Free: (888) 390-0541. The Passcode for the taped replay is 405992#.

About Invesque

The Company is a North American health care real estate company with an investment thesis focused on the premise that an aging demographic in North America will continue to utilize health care services in growing proportion to the overall economy. The Company currently capitalizes on this opportunity by investing in a portfolio of income-generating predominantly private pay seniors housing communities. The Company's portfolio includes investments primarily in independent living, assisted living, and memory care, which are operated under long-term leases and joint venture arrangements with industry-leading operating partners. The Company's portfolio also includes investments in owner-occupied seniors housing properties in which the Company owns the real estate, the licensed operations, and provides management services through Commonwealth Senior Living, LLC, a Delaware limited liability company ("Commonwealth").

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