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OTTAWA, ON, March 18, 2026 – InterRent Real Estate Investment Trust (TSX: IIP.UN) (“InterRent” or the “REIT“) today announced a change in its leadership.

As previously communicated, InterRent is moving forward with the proposed Arrangement Agreement with Carriage Hill Properties Acquisition Corp. (the “Arrangement“). The transaction is proceeding toward closing, with the major preparatory work now finished. The REIT and the Purchaser are now focused on meeting the final conditions for closing, which include obtaining consents from CMHC.

Following close collaboration with the Board and management to progress the Arrangement and prepare the REIT for a seamless handover, Brad Cutsey has informed the Board of his resignation from the roles of Chief Executive Officer and President, effective March 23, 2026, as he pursues the next phase of his professional life. He will also resign from his position as a Trustee of the REIT.

“It has been a genuine privilege to lead InterRent,” stated Mr. Cutsey. “Working with such a remarkable team has been humbling, and I appreciate the Board’s trust and confidence. This has been a significant chapter, and seeing the REIT well-prepared for the future gives me great assurance as I embark on new opportunities.”

The Board expressed its gratitude to Mr. Cutsey for his guidance and dedication during this critical time and for his efforts in advancing the REIT’s strategic goals over his decade of service.

“Working with a leader who demonstrated such high levels of professionalism and integrity has been a pleasure,” commented Paul Amirault, Lead Trustee. “Brad’s influence on InterRent’s team and culture has been significant, and he has advanced the REIT in numerous important respects. The Board extends its thanks to Brad and wishes him every success in his future pursuits.”

Dave Nevins, the current Chief Operating Officer, has been named Interim Chief Executive Officer, effective March 23, 2026. Mr. Nevins possesses more than thirty years of experience in the multi-family housing sector and has been the REIT’s COO for the last eight years. He is recognized nationally as a leading residential operator and has extensive knowledge of the portfolio and its daily management. His appointment is intended to maintain leadership stability while the REIT conducts business as usual and works to finalize the Arrangement.

ABOUT INTERRENT

InterRent REIT is a growth-focused real estate investment trust dedicated to enhancing unitholder value and establishing a rising, sustainable distribution stream via the purchase and management of multi-residential real estate.

The REIT’s approach is to grow its holdings mainly in markets characterized by consistent vacancy rates, a sufficient supply of suites to achieve the scale needed for effective portfolio management, and potential for value-added purchases.

InterRent’s main goals are to leverage the industry expertise of its Trustees, Management, and Operational Team to: (i) increase both funds from operations per Unit and net asset value per Unit by investing in a varied portfolio of multi-residential assets; (ii) offer unitholders reliable, increasing monthly cash distributions; and (iii) uphold a conservative approach to payout ratios and financial leverage.

www.irent.com

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

SOURCE InterRent Real Estate Investment Trust