Allied Announces Pricing and Upsizing of Previously Announced Marketed Public Offering of Units and Concurrent Private Placement

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The Units being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Units in the United States or in any jurisdiction in which such offer, sale or solicitation would be unlawful.

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Allied intends to use the net proceeds of the Offering and the Private Placement to repay amounts outstanding under its operating line of credit, which will be drawn down to repay Allied’s $600,000,000 aggregate principal amount of 1.726% series H senior unsecured debentures due February 12, 2026.

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The Base Shelf Prospectus and the Supplement are, and the Final Supplement will be (within two business days of the date hereof), accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Base Shelf Prospectus, the Supplement, and upon filing, the Final Supplement and any amendment to the documents may be obtained, without charge, from any of the Lead Underwriters by contacting Scotiabank at 40 Temperance Street, 6th Floor, Toronto, Ontario M5H 0B4, Attention Equity Capital Markets or by telephone at (416) 863-7704 or by email at [email protected], CIBC Capital Markets at 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8 or by telephone at 1-416-956-6378 or by email at [email protected], or RBC Dominion Securities Inc. at 180 Wellington Street West, 8th Floor, Toronto, ON M5J 0C2, Attention: Distribution Centre or by email at [email protected], by providing the contact with an email address or address, as applicable.

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The Base Shelf Prospectus and Supplement contain, and the Final Supplement will upon filing contain, important detailed information about Allied and the Offering. Prospective investors should read these documents, and any amendment to the documents, in their entirety before making an investment decision.

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About Allied

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Allied is a leading owner-operator of distinctive urban workspace in Canada’s major cities. Allied’s mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied’s vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.

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Cautionary Statements

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This press release may contain forward-looking statements with respect to (i) Allied, (ii) its intended use of the net proceeds of the Offering and the Private Placement, (iii) the expected filing date of the Final Supplement, (iv) the closing of the Offering and the Private Placement and the anticipated timing thereof, (v) the approval of the Offering and the Private Placement by the TSX, and (vi) its operations, strategy, financial performance and condition. These statements generally can be identified by the use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe”, “assume”, “plans” or “continue” or the negative thereof or similar variations. The forward-looking statements in this press release are not guarantees of future results, operations or performance and are based on estimates and assumptions that are subject to risks and uncertainties, including those described under “Risks and Uncertainties” in Allied’s Annual MD&A, as updated by quarterly reports, which are available at www.sedarplus. ca. Those risks and uncertainties include risks associated with development and construction, financing and interest rates, access to capital, general economic conditions and joint arrangements and partnerships. Allied’s actual results and performance discussed herein could differ materially from those expressed or implied by such statements. These cautionary statements qualify all forward-looking statements attributable to Allied and persons acting on its behalf. All forward-looking statements speak only as of the date of this press release and, except as required by applicable law, Allied has no obligation to update such statements.

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FOR FURTHER INFORMATION, PLEASE CONTACT:

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