Mr. Eddie Carlisle reports

FLAGSHIP COMMUNITIES REAL ESTATE INVESTMENT TRUST ANNOUNCES TSX ACCEPTANCE OF NORMAL COURSE ISSUER BID

The Toronto Stock Exchange (the TSX) has accepted Flagship Communities Real Estate Investment Trust's notice to launch a normal course issuer bid.

Under the bid, the REIT may repurchase on the open market, at its discretion during the period commencing on Aug. 28, 2026, and ending on the earlier of Aug. 27, 2027, and the completion of purchases under the bid, up to 1,642,039 trust units, representing approximately 10 per cent of the public float (within the meaning of the rules of the TSX), subject to the normal terms and limitations of such bids.

Under TSX rules, the average daily trading volume of the trust units on the TSX during the six months ended July 31, 2026, was approximately 10,113 and, accordingly, daily purchases on the TSX pursuant to the bid will be limited to 2,528 trust units, other than purchases made pursuant to the block purchase exception. The actual number of trust units which may be purchased pursuant to the bid and the timing of any such purchases will be determined by the management of the REIT, subject to applicable laws and the rules of the TSX.

Purchases are expected to be made through the facilities of the TSX and/or alternative Canadian trading systems, or by such other means as may be permitted by the Ontario Securities Commission or other applicable Canadian Securities Administrators, at prevailing market prices. The bid will be financed using existing cash resources and draws on the REIT's credit facilities and any trust units repurchased by the REIT under the bid will be cancelled.

The REIT has also agreed to the form of an automatic share purchase plan (an ASPP) with a designated broker to allow for the purchase of trust units under the bid at times when the REIT would ordinarily not be permitted to purchase trust units due to regulatory restrictions or self-imposed blackout periods. The ASPP has been cleared by the TSX and will be entered into in connection with the commencement of the bid.

As of Aug. 14, 2026, the REIT had 19,402,056 issued and outstanding trust units and a public float (within the meaning of the rules of the TSX) of 16,420,392 trust units.

The REIT believes that the purchases will be in the best interests of the REIT and constitute a desirable use of its funds.

About Flagship Communities Real Estate Investment Trust

Flagship Communities Real Estate Investment Trust is a leading operator of affordable residential MHCs primarily serving working families seeking affordable home ownership. The REIT owns and operates exceptional residential living experiences and investment opportunities in family-oriented communities in Kentucky, Indiana, Ohio, Tennessee, Arkansas, Missouri, West Virginia and Illinois.