Mr. Toby Chu reports

GECC COMPLETES INVESTMENT AND COOPERATION AGREEMENTS WITH POMERLEAU CAPITAL INC.

Global Education Communities Corp. has executed several agreements relating to an investment in one of the company's limited partnerships (the project) by an affiliate of Pomerleau Capital Inc (PCAP). In addition to its investment, PCAP will co-develop the project, with plans to extend this model of investment and co-development to other GEC student housing properties in Metro Vancouver. The investment was completed on Nov. 20, 2024.

"We are excited to be working with PCAP," commented Toby Chu, chairman, president and chief executive officer of Global Education. "We feel this is an investment partnership and a fully integrated strategic relationship. In addition to capital resources, PCAP brings additional value from its construction arm, Pomerleau Inc., and its subsidiary, ITC Construction Group, ranked one of Canada's largest construction companies. The ongoing development and construction needs of various GEC projects will require extensive support, and this collaboration will create synergies for all parties involved. The aggregate construction budget of GEC projects under development exceeds $800-million. A reliable financial and construction partner will add tremendous value to the applicable projects."

"The GEC project in which PCAP is making its first investment will be significant for the Vancouver community, and we are proud to be a part of it," commented Frederic Bettez, vice-president -- chief investment officer of Pomerleau Capital. "Our partnership with GECC enables us to combine our financial resources and construction expertise to develop high-quality student residences. Together, we aim to address the growing demand for student housing while promoting sustainable and innovative construction practices. This collaboration represents a major milestone in our shared vision and will be a concrete way of helping the community. We look forward to the positive impact it will have," confirmed Mr. Bettez.

About Global Education Communities Corp.

Global Education is one of Canada's largest education and student housing investment companies focused on the domestic and global education market since 1994. It operates business and language colleges, student-centric rental apartments, recruitment centres, and corporate offices at 40 locations in Canada and abroad. Its education subsidiaries include Sprott Shaw College Corp. (established in 1903), Sprott Shaw Language College, Vancouver International College, and CIBT School of Business & Technology Corp. Global Education offers over 150 educational programs in health care, business management, e-commerce, cybersecurity, hotel management, emergency paramedic and language training through these schools.

Global Education owns Global Education City Holdings Inc. (GECH), an investment holding and development company focused on education-related real estate, such as student-centric rental apartments and education supercentres. In fiscal 2024, GECH held nine projects comprising 14 buildings in operation and different stages of development under the Global Education brand in Metro Vancouver. GECH provided accommodation services to 95 partner schools serving students arriving from across Canada and 79 countries. The total portfolio and development budget under the Global Education brand exceeds $1.3-billion.

Global Education also owns Global Education Alliance Inc. (GEA) and Irix Design Group Inc. GEA recruits international students for elite kindergartens, primary and secondary schools, colleges, and universities in North America. Irix is a leading design and advertising company based in Vancouver, Canada.

In fiscal 2024, Global Education serviced over 12,500 domestic and international students through its educational, rental housing and recruitment subsidiaries.