Choice Properties Real Estate Investment Trust Announces Issuance of $300 million of Series Y Senior Unsecured Debentures

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Not for distribution to U.S. News Wire Services or dissemination in the United States.

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TORONTO — Choice Properties Real Estate Investment Trust (“Choice Properties”, the “Trust” or “we”) (TSX: CHP.UN) announced today that it has agreed to issue, on a private placement basis in certain provinces of Canada (the “Offering”), $300 million aggregate principal amount of series Y senior unsecured debentures of the Trust that will bear interest at a rate of 4.836% per annum and will mature on September 22, 2033 (the “Debentures”).

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Offering of Debentures

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The Debentures will be sold at par, and are being offered on an agency basis by a syndicate of agents co-led by TD Securities, CIBC Capital Markets, RBC Capital Markets, BMO Capital Markets, and Scotiabank. Subject to customary closing conditions, the Offering is expected to close on September 22, 2026. The Trust intends to use the net proceeds of the Offering, together with other available funds, to repay upon maturity its outstanding $350 million aggregate principal amount of 2.456% series Q senior unsecured debentures due November 30, 2026.

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It is a condition of closing of the Offering that the Debentures be rated at least “BBB” (high) with a “positive” trend by Morningstar DBRS and at least “BBB+” by Standard and Poor’s Ratings Services. The Debentures will rank equally with all other unsecured indebtedness of the Trust that has not been subordinated.

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The Debentures being offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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About Choice Properties Real Estate Investment Trust

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Choice Properties is Canada’s largest real estate investment trust, guided by a clear purpose: to create places where people thrive. This is how we build enduring value. As a national owner, operator, and developer of high-quality commercial and residential real estate, we go beyond managing assets. We create places that strengthen how tenants and communities live, work, and connect. Our platform is built on industry leadership in sustainability, community engagement, and social impact, embedded across how we operate, build, and grow. As a trusted steward of capital, we are committed to disciplined execution, long-term value creation, and responsible growth. Everything we do is guided by our core values of Care, Ownership, Respect, and Excellence.

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For more information, visit Choice Properties’ website at www.choicereit.ca and Choice Properties’ issuer profile at www.sedarplus.ca.

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Forward-Looking Statements

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This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects Choice Properties’ current expectations regarding future events, including the expected closing of the Offering and the intended use of proceeds of the Offering. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Choice Properties’ control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed in Choice Properties’ 2026 Second Quarter Report and current Annual Information Form. Choice Properties does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. All forward-looking statements contained in this press release are made as of the date hereof and are qualified by these cautionary statements.

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Contacts

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For further information:

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Erin Johnston

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Chief Financial Officer

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Choice Properties REIT

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