Ms. Stacy Riffe reports

NOVA NET LEASE REIT ANNOUNCES FINANCIAL RESULTS FOR THE PERIOD ENDED SEPTEMBER 30 2023

Nova Net Lease REIT has released its financial results for the three months ended Sept. 30, 2023. The real estate investment trust's financial results are available on SEDAR+. Results are presented in U.S. dollars.

Revenue for the period ended Sept. 30, 2023, was $388,655, and general and administrative expenses for the period were $403,756. The REIT also recognized a fair value gain on the Class B units of $560,000 and a fair value gain on investment properties of $1,852,345, resulting in net income of $2,397,244 for the period Sept. 30, 2023.

For further information, please see the condensed consolidated interim financial statements for the period ended Sept. 30, 2023, and the related management's discussion and analysis for the same period, which are available on SEDAR+.