AIP Realty Trust Closes Third Tranche of Non-Brokered Offering of Preferred Units

VANCOUVER, BC / ACCESS Newswire / April 17, 2026 / AIP Realty Trust (the "Trust" or "AIP") (TSXV:AIP.U) today announces that it has completed the third tranche of a non-brokered private placement (the "Financing") and has issued 1,367,945 Preferred Units - Series B Convertible (each, a "Preferred Unit"), at a price of US$0.50 per Preferred Unit for aggregate gross proceeds of US$683,973. An aggregate of up to 14,000,000 Preferred Units may be issued under the Financing for aggregate gross proceeds of up to US$7,000,000. The Trust has previously issued an aggregate of 9,844,000 Preferred Units for gross proceeds of $4,922,000 in two tranches on October 29, 2025 and December 30, 2025, respectively. A fourth tranche in respect of the Financing to issue the balance of the Preferred Units is expected to close in the coming weeks.

Except as otherwise expressly provided in the Third Amended and Restated Declaration of Trust dated June 17, 2022 (the "Declaration of Trust"), each Preferred Unit shall have the right to receive notice of and to attend any meetings of Trust's unitholders and to one vote for each Preferred Unit held. Holders of Preferred Units will also have the right to a proportionate share, in preference to the Class A Trust Units of the Trust (each, a "Unit"), of (i) all allocations (including allocations of income of the Trust), (ii) all advances or distributions of cash or other property (including amounts out of the income of the Trust or other amounts) and any other advances or distributions of a similar nature made in accordance with the Declaration of Trust; and (iii) the share of the Preferred Units in the remaining Trust assets on dissolution in accordance with the terms of the Declaration of Trust. Each Preferred Unit shall be convertible into one Unit at no additional cost, on the earlier of: (a) five (5) business days following the holder of such Preferred Units providing notice to the Trust of its intent to convert its Preferred Units; (b) the closing by the Trust of any merger, acquisition, plan of arrangement, restructuring, reverse take-over or other similar transaction involving the Trust; (c) at the option of the trustees of the Trust; and (d) April 30, 2027. The terms and conditions of the Preferred Units have been filed on the Trust's profile at www.sedarplus.com.