Mr. Kevin Henley reports

CANADIAN NET REIT ANNOUNCES THE ISSUANCE OF UNITS FOR SERVICES RENDERED AND GRANT OF PERFORMANCE UNITS IN RELATION WITH ITS UNIT COMPENSATION PLAN

Canadian Net Real Estate Investment Trust has issued 32,558 units of the trust at a price of $4.87 per unit, which equates to $158,558, and 43,147 deferred trust units as partial compensation for the services rendered by certain employees, members of management and the board of trustees during the fiscal year ended on Dec. 31, 2023.

The issuance of the units and deferred trust units of Canadian Net constitutes a portion of salaries as per the equity incentive plan approved by unitholders on May 25, 2022 (the equity incentive plan).

Canadian Net also announces the grant of 169,008 performance units to certain members of management under the equity incentive plan. These units will vest in accordance with the criteria set forth in the equity incentive plan and the achievement of performance targets, set by the board of trustees.

About Canadian Net Real Estate Investment Trust

Canadian Net is an open-ended trust that acquires and owns high-quality triple net and management-free commercial real estate properties.

We seek Safe Harbor.