First Capital REIT Enters Into Agreement to Be Acquired by KingSett Capital and Choice Properties REIT in $9.4 Billion Transaction


Certain statements contained in this document constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to the future outlook of First Capital, KingSett Capital or Choice Properties and anticipated events or results and may include statements regarding the financial position, business strategy, budgets, litigation, projected costs, capital expenditures, financial results, taxes, plans and objectives of or involving First Capital, KingSett Capital or Choice Properties. Particularly, statements regarding the Transaction, including the proposed timing and various steps contemplated in respect of the Transaction, the ability to complete the Transaction and the other transactions contemplated by the Arrangement Agreement, including the parties’ ability to satisfy the conditions to the consummation of the Transaction, the receipt of the required unitholder approval, regulatory approval, court approval and other closing conditions customary in transactions of this nature, the possibility of any termination of the Arrangement Agreement in accordance with its terms, the expected benefits to the parties and their respective unitholders and other stakeholders of the Transaction, and statements regarding the plans, objectives and intentions of First Capital, KingSett Capital and Choice Properties, including concerning the Transaction, are forward-looking statements. In some cases, forward-looking information can be identified by such terms such as “may” , “might” , “will” , “could” , “should” , “would” , “occur” , “expect” , “plan” , “anticipate” , “believe” , “intend” , “estimate” , “predict” , “potential” , “continue” , “likely” , “schedule” , “anticipate” , “foresee” , “goal” , “seek” , “strive” , “aspire” , “pledge” , “aim” , or the negative thereof or other similar expressions concerning matters that are not historical facts. These forward-looking statements have been based on factors and assumptions about future events and financial trends, including about the timing and steps for advancing and completing the Transaction. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the control of First Capital, Choice Properties or KingSett Capital. These risks and uncertainties include, among other things, the factors and risks disclosed by each of First Capital and Choice Properties in their publicly filed disclosure documents. The forward-looking statements made in this document relate only to events or information as of the date on which the statements are made in this document. Except as required by law, no party undertakes any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. These forward-looking statements are made as of April 15, 2026 and neither First Capital nor Choice Properties nor KingSett Capital assumes any obligation to update or revise them to reflect new events or circumstances, except as required by law.



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