/NOT FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Dec. 31, 2024 – Lionel Dubrofsky today announced the acquisition, through ADMINISTRATION F.L.T. LTEE, of 500,000 Class F Units of Plazacorp Willowgrove Residential Real Estate Development Trust (the “REDT”) in connection with the December 31, 2024 secondary offering. These units were purchased at $10.00 each, totaling $5,000,000. The REDT’s principal place of business is 10 Wanless Avenue, Suite 201, Toronto, Ontario M4N 1V6.

Following the offering, Mr. Dubrofsky’s beneficial ownership represents approximately 17.5% of all issued and outstanding Class F Units.

This investment aims to align Mr. Dubrofsky’s interests with other REDT unitholders. Mr. Dubrofsky, directly or indirectly through ADMINISTRATION F.L.T. LTEE, may buy or sell additional Units at any time, depending on factors such as unit valuation, market conditions, available pricing, other investment opportunities, and his liquidity needs.

ADMINISTRATION F.L.T. LTEE is a federally incorporated Canadian company whose primary activity is investing. Its registered office is at 4281 Boulevard De Maisonneuve Ouest, Westmount, Québec, H3Z 1K7.

For more information and to access the early warning report filed under Canadian securities laws, please refer to the REDT’s SEDAR+ profile at .

SOURCE ADMINISTRATION F.L.T. LTEE