Mr. Michael Zakuta reports

PLAZA RETAIL REIT ANNOUNCES THE ELECTION OF ITS BOARD OF TRUSTEES

All of the trustee nominees proposed for election in Plaza Retail REIT's management information circular dated April 12, 2023, were elected at Plaza's annual meeting of unitholders held virtually on May 25, 2023. The detailed results of the votes are as noted herein.

Voting results on all matters voted on at the meeting are available on SEDAR.

About Plaza Retail REIT

Plaza is an open-ended real estate investment trust and is a leading retail property owner and developer, focused on Ontario, Quebec and Atlantic Canada. Plaza's portfolio at March 31, 2023, includes interests in 246 properties totalling approximately 8.8 million square feet across Canada, as well as additional lands held for development. Plaza's portfolio largely consists of open-air centres and stand-alone small box retail outlets and is predominantly occupied by national tenants, with a focus on the essential needs, value and convenience market segments.