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

• On April 7 2026, Boardwalk REIT disclosed the disposition of four additional communities (three in Québec City – Place Charlesbourg, Place Chamonix, Place Samuel de Champlain; one in Edmonton – Valley Ridge Tower) for total consideration of $105 million.
• The Trust repurchased approximately 1,005,800 units under its Normal Course Issuer Bid (NCIB) during Q1 2026, investing $66.0 million at an average price of $65.65 per unit.
• Same‑property portfolio occupancy remained stable around 97–98% from January 2025 through April 2026 (preliminary). Quarterly simple average occupied rent rose from $1,536 (Q1 2025) to $1,596 (Jan‑Feb 2026); the Q1 2026 figure will be announced with results.
• First‑quarter 2026 financial results are scheduled for release after market close on May 5 2026, with a management teleconference on May 6 2026.

The April 7 update reflects execution of Boardwalk’s ongoing capital‑allocation strategy: selling non‑core assets and using proceeds (along with cash flow) to repurchase units under the NCIB. Both dispositions (~$105 M) and NCIB activity ($66 M invested in Q1) are consistent with trends disclosed in prior releases:
- The February 19 2026 earnings release outlined FY 2026 guidance and highlighted continued disposition activity but did not specify the exact communities sold in Q1.
- Historical news shows a pattern of quarterly disposals (e.g., $56.5 M disclosed Jan 7 2026, $277.6 M gross dispositions for 2025/early‑2026) and steady NCIB repurchases ($57.3 M in FY 2025, $17.7 M YTD FY 2026 per Feb release).
- Occupancy metrics remain within the tight 97‑98% band previously reported, indicating no material change in operating fundamentals.

Because the news discloses incremental, expected steps rather than a surprise or transformative event (no major acquisition, distribution increase beyond the 11.1% already announced, or debt restructuring), its impact is routine and positive – it reinforces confidence in management’s capital‑allocation discipline but does not materially shift valuation expectations.

Boardwalk Real Estate Investment Trust is a Canadian residential REIT focused on owning and managing high‑quality multi‑family apartment communities across Canada. The portfolio emphasizes stable occupancy and incremental rent growth, with a strategic emphasis on recycling capital from non‑core assets to accretive acquisitions and share repurchases. No single “flagship” project is highlighted in the supplied news; the Trust’s value derives from its diversified suite of properties rather than one flagship asset.