BOARDWALK REIT PROVIDES OPERATIONAL AND CAPITAL ALLOCATION UPDATE AND ANNOUNCES TIMING OF FOURTH QUARTER RESULTS

Executive Summary

• Boardwalk REIT reports steady Q4‑2025 occupancy at ~97.5% and incremental rent growth, indicating strong operational performance.
• The Trust disclosed $56.5 million of dispositions (Terrace Garden Estates, Tower Hill, The Palisades) and $551.5 million of acquisitions in 2025, reflecting active capital allocation.
• Q4‑2025 financial results will be released on February 19 2026 with a management teleconference the following day.

Key Details

• Occupancy: Same‑property occupancy remained between 97.5% and 98.1% from Oct 2024 through Jan 2026 (preliminary monthly figures).
• Occupied Rent: Quarterly simple average rent increased from $1,515 in Q4 2024 to $1,587 in Oct‑Nov 2025.
• NCIB Activity: Invested ~$20.5 M in Nov‑Dec 2025 at a weighted‑average price of $63.81; total 2025 NCIB investment was $57.3 M at $63.80 average.
• Dispositions (2025/early 2026):
• Terrace Garden Estates – $19.5 M gross, $171k per suite, 114 suites, exit cap 5.9%.
• Tower Hill & The Palisades – $37.0 M gross, $210k per suite, 176 suites, exit cap 4.7%.
• Total disclosed dispositions: $277.6 M gross for 1,382 suites (average price $201k per suite).
• Acquisitions (2025):
• Elbow 5 Eight – $93.0 M purchase, $365k per suite, 255 suites.
• North Prairie Townhomes – $71.1 M purchase, $303k per suite, 235 suites.
• Brio (50% interest) – $37.4 M purchase, $462k per suite, 81 suites.
• The Arch – $62.0 M purchase, $392k per suite, 158 suites.
• Central Parc 1‑3 – $249.0 M purchase, $460k per suite, 541 suites.
• 639 Main Street – $39.0 M purchase, $368k per suite, 106 suites.
• Total acquisitions: $551.5 M for 1,376 suites (average price $401k per suite).
• Financial Results Timing: Q4‑2025 and FY‑2025 results to be released after markets close on February 19 2026; management teleconference scheduled for February 20 2026 at 11:00 am MT / 1:00 pm ET.
• Teleconference Access: Toll‑free 1‑888‑510‑2154 (North America) or 1‑437‑900‑0527 (International); Conference ID 74984; webcast available on www.bwalk.com/investors.

Notable Quotes

“Our occupancy rate of 97.5% to begin the year is a reflection of the quality and resilience of our communities… we remain focused on providing the best value in multi‑family communities in Canada.” – Sam Kolias, Chairman & CEO

All non‑material boilerplate, forward‑looking statements, and corporate profile text have been omitted for clarity.