Mr. Ben Lui reports

YORKTON EQUITY GROUP INC. ANNOUNCES FINANCIAL RESULTS FOR SECOND QUARTER ENDED JUNE 30TH, 2023

Yorkton Equity Group Inc. has released its financial results for the second quarter ended June 30, 2023.

Ben Lui, president and chief executive officer of Yorkton, said: "As a direct result of our recent acquisitions of multifamily rental properties in Alberta and British Columbia, our total rental revenue continues to show strong growth, increasing to approximately $1.7-million during Q2 2023 and $2.9-million during the six months ended June 30, 2023, an increase of over 100 per cent in both periods. The acquisition of The Dwell, a 188-unit multifamily property, has played a pivotal role in our growth trajectory and Yorkton remains focused on growing its residential property portfolio with similar acquisitions in Alberta, where the housing demand is strong as a result of international and interprovincial in-migration due to Alberta's strong economy and job market, low cost of living, and affordable housing."

Q2 2023 financial highlights:

• Total rental revenue increased by $924,904, or 113.8 per cent, to $1,737,435 in Q2 2023.
• Total rental revenue increased by $1,483,635, or 103.9 per cent, to $2,911,227 in the six months ended June 30, 2023.
• Net rental income increased by $576,828, or 117.5 per cent, to $1,067,593 in Q2 2023 and increased by 120.4 per cent to $1,892,651 during the six months ended June 30, 2023.
• The acquisition of The Dwell (Edmonton, Alta.) on Feb. 27, 2023, added $870,065 of total rental revenue and $558,403 of net rental income during Q2 2023 and $1,180,199 of total rental revenue and $837,302 of net rental income to June 30, 2023.
• Yorkton holds 393 residential rental units and 28,036 square feet of commercial space for a total portfolio value of $96,723,775, which grew by 104.2 per cent as compared with June 30, 2022.

Despite an overall net loss of $134,837 during Q2 2023 compared with $59,962 during Q2 2022 and $134,264 during the six months ended June 30, 2023, compared with $252,185 in the same period in 2022, Yorkton expects its financial performance to improve through the remainder of 2023 from planned increases in its operating efficiency as well as regular residential tenant turnover and coming lease renewals, allowing the company to increase its rental rates to current market rates, which have begun to trend upward. In addition, the company plans to continue to acquire additional investment properties with anticipated positive operating cash flows.

Highlights of the residential rental portfolio for the three and six months ended June 30, 2023, are shown in the attached table.

About Yorkton Equity Group Inc.

Yorkton Equity Group is a growth-oriented real estate investment company committed to providing shareholders with growing assets through accretive acquisitions, organic growth and the active management of multifamily rental properties with significant upside potential. The company's current geographical focus is in Alberta and British Columbia, with diversified and growing economies and strong population in-migration. The company's business objectives are to achieve growing net operating income (NOI) as well as the asset values in Yorkton's multifamily rental property portfolio in strategic markets across Western Canada.

The management team at Yorkton Equity Group has well over 30 years of prior real estate experience in acquiring and managing rental assets.

We seek Safe Harbor.