Company Announcements

MONTRÉAL , Sept. 8, 2025 /CNW/ - BTB Real Estate Investment Trust (TSX: BTB.UN) ("BTB", the "REIT" or the "Trust") wishes to update unitholders regarding the mini-tender offer by Ewing Morris & Co. Investment Partners Ltd. ("Ewing Morris") to acquire up to 8,000,000 units of BTB ("Units") at a price of $3.80 per Unit. The mini-tender expires at 5:00 p.m. (Eastern Standard Time) on September 30, 2025.

The BTB Board of Trustees (the "Board"), after consultation with its legal and financial advisors, has unanimously determined to make NO RECOMMENDATION as to whether unitholders should accept or reject the mini-tender.

The Board encourages unitholders to make their own decisions regarding whether or not to accept the mini tender, and to consult their financial and tax advisors before making a decision.

No unitholder is required to accept or tender their units to the mini-tender. A unitholder is entitled to do nothing and not accept the mini-tender.

BTB is not associated with Ewing Morris and makes no recommendation as to whether unitholders should tender their units in response to the offer.

About BTB

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB invests in industrial, suburban office and necessity-based retail properties across Canada for the benefit of their investors. As of today, BTB owns and manages 73 properties, representing a total leasable area of approximately 6.1 million square feet.

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SOURCE BTB Real Estate Investment Trust