Mr. Daniel Drimmer reports

TRUE NORTH COMMERCIAL REAL ESTATE INVESTMENT TRUST ANNOUNCES RESULTS OF 2026 ANNUAL MEETING OF UNITHOLDERS

All of the trustee nominees listed in the management information circular dated May 8, 2026, were elected as trustees of True North Commercial Real Estate Investment Trust. The vote was conducted at the REIT's annual meeting of unitholders, held in virtual meeting form, on June 17, 2026. The voting results of each of the matters considered at the meeting are presented in the attached tables.

Election of trustees

Reappointment of the auditor

BDO Canada LLP was reappointed as the auditor of the REIT, to hold office until the next annual meeting of unitholders at remuneration to be fixed by the board of trustees. The voting results for the reappointment of the auditor are detailed in an attached table.

About True North Commercial Real Estate Investment Trust

The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 37 properties consisting of approximately 4.4 million square feet in urban and select strategic secondary markets across Canada. The REIT is focused on growing its portfolio principally through acquisitions across Canada and such other jurisdictions where opportunities exist.