Mr. Eddie Carlisle reports

FLAGSHIP COMMUNITIES REAL ESTATE INVESTMENT TRUST ANNOUNCES JULY 2023 CASH DISTRIBUTION

Flagship Communities Real Estate Investment Trust has declared a cash distribution of 4.68 U.S. cents per REIT unit for the month of July, 2023, representing 56.2 U.S. cents per REIT unit on an annual basis. Payment will be made on or about Aug. 15, 2023, to unitholders of record as of the close of business on July 31, 2023.

Distributions paid to Canadian unitholders (and other non-U.S. unitholders) generally will be subject to U.S. withholding tax. Unitholders should consult their own tax advisers for advice with respect to the tax consequences of receiving a distribution from the REIT in their own circumstances.

About Flagship Communities Real Estate Investment Trust

Flagship Communities is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of Ontario. The REIT has been formed to own and operate a portfolio of income-producing manufactured housing communities located in Kentucky, Indiana, Ohio, Tennessee, Arkansas, Missouri and Illinois, including a fleet of manufactured homes for lease to residents of such housing communities.

We seek Safe Harbor.