Mr. Wissam Francis reports

INDEPENDENT PROXY ADVISORY FIRMS ISS AND GLASS LEWIS RECOMMEND TRICON SHAREHOLDERS VOTE FOR THE ARRANGEMENT RESOLUTION APPROVING TRANSACTION WITH BLACKSTONE REAL ESTATE

Leading independent proxy advisory firms Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co. have each recommended that shareholders of Tricon Residential Inc. vote for the resolution approving the statutory plan of arrangement under the Business Corporations Act (Ontario), pursuant to which Blackstone Real Estate Partners X LP, together with Blackstone Real Estate Income Trust Inc., will acquire all outstanding common shares of Tricon for $11.25 (U.S.) per common share in cash, at the coming special meeting of company shareholders to be held on Thursday, March 28, 2024, at 10 a.m. (Toronto time).

Vote today

Company shareholders are reminded that the deadline to vote is fast approaching. Company shareholders are encouraged to submit their vote in advance by completing the instructions in their form of proxy (in the case of registered company shareholders) or voting instruction form (in the case of non-registered company shareholders). Registered company shareholders must submit their proxies before 10 a.m. (Toronto time) on Tuesday, March 26, 2024, or for beneficial company shareholders, such earlier time as specified by their intermediaries in the voting instruction form received.

On the unanimous recommendation of the special committee, the board of directors of Tricon recommends that company shareholders vote for the arrangement resolution.

Your vote is important -- please vote today

Special meeting details

The special meeting will be held on-line, password: tricon2024 (case sensitive) and meeting ID: 411-155-572, on March 28, 2024, at 10 a.m. (Toronto time).

Visit Tricon's investor relations website to access materials and information related to the coming special meeting.

The management information circular nd related proxy materials in respect of the special meeting have been mailed to company shareholders and are filed and available under Tricon's profile on SEDAR+. A Schedule 13E-3 transaction statement, which includes the circular and related proxy materials, has been filed with the U.S. Securities and Exchange Commission (SEC) and is available under Tricon's profiles on SEDAR+ and EDGAR.

Details of the special meeting and how company shareholders or their duly appointed proxyholders can attend, access, participate in and vote at the special meeting are set out in the circular.

Questions

If you have any questions about the information contained in this news release in connection with the special meeting, or require any assistance voting, please contact Tricon's proxy solicitation agent and shareholder communications adviser, Laurel Hill Advisory Group, at 1-877-452-7184 (toll-free within North America) or by calling 1-416-304-0211 (outside of North America) or by e-mail at assistance@laurelhill.com.

About Tricon Residential Inc.

Tricon Residential is an owner, operator and developer of a growing portfolio of approximately 38,000 single-family rental homes in the U.S. Sun Belt and multifamily apartments in Toronto, Canada. Tricon's commitment to enriching the lives of its employees, residents and local communities underpins Tricon's culture and business philosophy. The company provides high-quality rental housing options for families across the United States and in Toronto, Canada, through its technology-enabled operating platform and dedicated on-the-ground operating teams. Tricon's development programs are also delivering thousands of new rental homes and apartments as part of its commitment to help solve the housing supply shortage. Tricon we imagines a world where housing unlocks life's potential.

We seek Safe Harbor.