Mr. Adlai Chester reports

INVESQUE INC. PROVIDES UPDATE ON YEAR-TO-DATE ACTIVITIES

Invesque Inc. has provided a number of company updates.

On Jan. 31, 2024, the company sold a seniors housing community in South Carolina for $4.0-million (U.S.). This community was the final asset owned in a joint venture that the company had with Phoenix Senior Living.

The Company has entered into definitive agreements to sell five skilled nursing facilities for a combined gross sales price of US$68.4 million. The contemplated sales are expected to close prior to the end of the first quarter, subject to satisfaction or waiver of customary due diligence and closing conditions . Excess proceeds above property specific debt will be used to pay down debt associated with the Company's KeyBank credit facility.

To further enhance its liquidity position and consistent with the recent sales of a significant number of properties, Invesque recently completed certain personnel cutbacks. The Company believes that the corporate level reductions will result in US$0.9 million of annual cost savings excluding severance payments.

"Our team has been busy so far in 2024, continuing to prioritize pruning our real estate portfolio and cleaning up our balance sheet. Following the sale of the skilled nursing facilities expected to close in the next 40 days, the Company will only own four skilled nursing facilities, successfully achieving our previously stated goal of becoming a private pay senior housing focused platform," commented Adlai Chester, Chief Financial Officer, and Executive Vice President of Investments for the Company. "Going forward, we will continue to assess the portfolio to determine which assets, if any, are suitable disposition candidates."

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.

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