Mr. Kurt Keeney reports

FLAGSHIP COMMUNITIES REAL ESTATE INVESTMENT TRUST ANNOUNCES SIXTH CONSECUTIVE CASH DISTRIBUTION INCREASE

Flagship Communities Real Estate Investment Trust's board of trustees has approved an approximately 5.9-per-cent increase to its monthly cash distribution to unitholders to 5.771 U.S. cents per REIT unit or 69.25 U.S. cents per REIT unit on an annualized basis. The new monthly cash distribution will commence on or about Nov. 16, 2026, to unitholders of record as of the close of business on Oct. 30, 2026. This increase marks the sixth consecutive year the REIT has increased cash distributions for unitholders.

"Following a strong first half of the year, with gains in occupancy and growth in our same-community metrics, we are pleased to be in the fortunate position of being able to increase cash distributions again this year," said Kurt Keeney, president and chief executive officer. "We have now increased our distribution every year since our IPO [initial public offering] while keeping our AFFO [adjusted funds from operations] payout ratio below 50 per cent, maintaining conservative leverage and continuing to earn industry recognition for our communities. We thank our trustees for their confidence in our team and our business and thank our unitholders for their ongoing trust and support."

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 a leading operator of affordable residential MHCs (manufactured housing communities) 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.

We seek Safe Harbor.