Dream Residential REIT Renews Normal Course Issuer Bid and Announces Automatic Securities Purchase Plan

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This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release.

DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST (TSX: DRR.U and TSX: DRR.UN) announced today that the Toronto Stock Exchange (“TSX”) accepted a noticed filed by Dream Residential REIT (the “Trust”) to renew its prior normal course issuer bid for a one year period. Under the bid, the Trust will have the ability to purchase for cancellation up to a maximum of 1,174,446 of its Trust Units (the “Units”) (representing 10% of the Trust’s public float of 11,744,467 Units as of December 29, 2023) through the facilities of the TSX. The bid will commence on January 8, 2024 and will remain in effect until the earlier of January 7, 2025 or the date on which the Trust has purchased the maximum number of Units permitted under the bid. Daily repurchases will be limited to 2,258 Units, representing 25% of the average daily trading volume of the Units on the TSX during the last six calendar months (being 9,035 Units per day), other than purchases pursuant to applicable block purchase exceptions. As of December 29, 2023, the number of issued and outstanding Units was 12,645,268.

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In connection with the renewal of its normal course issuer bid, the Trust has established an automatic securities purchase plan (the “Plan”) with its designated broker to facilitate the purchase of Units under the normal course issuer bid at times when the Trust would ordinarily not be permitted to purchase its Units due to regulatory restrictions or self-imposed blackout periods. Purchases will be made by the Trust’s broker based upon the parameters prescribed by the TSX and the terms of the parties’ written agreement. Outside of such restricted or blackout periods, the Units may also be purchased in accordance with Management’s discretion. The Plan has…