Mr. Michael Cooper reports

DREAM UNLIMITED CORP. PROVIDES ASSET MANAGEMENT BUSINESS UPDATE

Dream Unlimited Corp. has provided an update on various business initiatives.

"We are extremely pleased to see the overall growth in our asset management platform over the last few years," said Michael Cooper, chief responsible officer. "In addition to the previously announced Netherlands multifamily transaction, we have approximately $500-million in deals under exclusive negotiation or in due diligence as of today across the multifamily and industrial asset classes that we expect to close in the first half of 2025. Not including these transactions, our assets under management total $27-billion, up 51 per cent since the end of 2022. We are also making steady progress advancing large-scale affordable apartment projects, which will continue to grow our assets under management as they are built out."

Over the past two years, Dream's assets under management have grown by $9-billion, largely driven by an $8.5-billion increase in the multifamily rental and industrial asset classes, which now represent nearly 75 per cent of our total assets under management. Dream continues to source new asset management deals on an opportunistic basis as it focuses on increasing its platform and market presence.

On Dec. 16, 2024, it closed on the previously announced acquisition of a 2,947-unit Dutch residential rental portfolio from European Residential REIT in partnership with TPG Angelo Gordon and Stadium Capital. The portfolio, valued at $1-billion, marked its first investment in the multifamily asset class in Europe. Dream holds a minority interest in the portfolio and will earn transaction and continuing fees.

Dream's industrial platform continues to grow. Since the formation of the Dream Summit venture, it has added over $750-million of high-quality industrial assets and development sites to its platform across its target markets.

As of the nine months ended Sept. 30, 2024, the asset management division had generated net margin of $30.0-million. Dream will be releasing its financial results for the year ended Dec. 31, 2024, on Tuesday, Feb. 25, 2025.

About Dream Unlimited Corp.

Dream is a leading developer of exceptional office and residential assets in Toronto, owns stabilized income-generating assets in both Canada and the United States, and has an established and successful asset management business, inclusive of $27-billion of assets under management across four Toronto Stock Exchange listed trusts, its private asset management business and numerous partnerships. It also develops land, residential and income-generating assets in Western Canada. Dream expects to generate more recurring income in the future as its urban development properties are completed and held for the long term. Dream has a proven record for being innovative and for its ability to source, structure and execute on compelling investment opportunities.

We seek Safe Harbor.