Pine Trail REIT Announces Suspension of Quarterly Distribution

Toronto, Ontario--(Newsfile Corp. - March 11, 2024) - Pine Trail Real Estate Investment Trust (TSXV: PINE.UN) (TSXV: PINE.U) (the "REIT") announces that, in order to redirect its cash flow towards strategic building improvements and tenant improvement allowances, it has decided to suspend its quarterly distribution for the first quarter of 2024.

The REIT believes that these investments will enhance the long-term value and attractiveness of its properties, thereby benefiting both tenants and unitholders in the future.

The decision to suspend the distribution underscores the REIT's commitment to prudent capital allocation and its focus on maximizing returns for all stakeholders.

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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