Pine Trail REIT Announces Move to Quarterly Distribution

Toronto, Ontario--(Newsfile Corp. - January 3, 2024) - Pine Trail Real Estate Investment Trust (TSXV: PINE.UN) (TSXV: PINE.U) (the "REIT") announces that subject to the approval of future trust unit distributions by the Board of Trustees, the Trust intends to transition from a monthly to a quarterly distribution payment schedule. Quarterly payments are expected to be made on the first business day of April, July, October, and January in subsequent years, to unitholders of record on the 15^th day of the preceding month, if, as and when declared by the Board of Trustees. Should the record date fall on a weekend or on a statutory holiday, the record date will be the next succeeding business day. Subject to the approval of the Board of Trustees, the first quarterly distribution is expected to be paid in April 2024.

FOR FURTHER INFORMATION, PLEASE CONTACT: Andrew Shapack, Chief Executive Officer: (416) 532-2200

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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