AIP.U AIP Realty Trust

AIP Realty Trust (the “Trust” or “AIP”) (TSXV: AIP.U) today announces that it is not in a position to file its audited consolidated annual financial statements, management’s discussion and analysis and related CEO and CFO certifications for the year ended December 31, 2023 and accompanying management discussion and analysis (the “Annual Financial Filings”) prior to the applicable deadline due to internal and external delays associated with the preparation and audit process as part of the Annual Financial Filings due to a lack of funds, which prevented the Trust from being able to engage its auditor, which has impacted the continuous availability of the auditor, as well as unanticipated complexities with the completion of the Annual Financial Filings.

As a result of the delay in filing, the British Columbia Securities Commission has issued a failure to file cease trade order (the “FFCTO”) pursuant to National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions against the Trust, effective so long as the Annual Financial Filings are not filed. The FFCTO prohibits the trading by any person of any securities of the Trust in Canada, including trades in the Trust’s class A trust units made through the facilities of the TSX Venture Exchange, until the Annual Financial Filings have been filed and the FFCTO revoked.

The Trust continues to work closely with its auditors and anticipates that the Annual Financial Filings will be filed on or before May 13, 2024. The Trust has not taken any steps towards any insolvency proceeding and the Trust has no material information to release to the public. The Trust has made the foregoing representations in accordance with the requirements of applicable securities laws.

About AIP Realty Trust

AIP Realty Trust is a real estate investment trust with a growing portfolio of AllTrades branded Serviced Industrial Business Suites (“SIBS”) light industrial flex facilities focused on small businesses and the trades and services sectors in the U.S. These properties appeal to a diverse range of small space users, such as contractors, skilled trades, suppliers, repair services, last-mile providers, small businesses and assembly and distribution firms. They typically offer attractive fundamentals including low tenant turnover, stable cash flow and low capex intensity, as well as significant growth opportunities. With an initial focus on the Dallas-Fort Worth market, AIP plans to roll out this innovative property offering nationally. AIP holds the exclusive rights to finance the development of and to purchase all the completed and leased properties built across North America by its development and property management partner, AllTrades Industrial Properties, Inc. For more information, please visit www.aiprealtytrust.com.

For further information from the Trust, contact:Leslie WulfExecutive Chairman(214) 679-5263les.wulf@aiprealtytrust.com

Or

Greg VorwallerChief Executive Officer(778) 918-8262Greg.vorwaller@aiprealtytrust.com

Cautionary Statement on Forward-Looking Information

This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of AIP Realty Trust with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding, the filing of the Trust’s Annual Financial Filings and other factors. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to proposed financing activity, proposed acquisitions, regulatory or government requirements or approvals, the reliability of third-party information and other factors or information. Such statements represent the Trust’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Trust, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. The Trust does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release is not an offer of securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration under U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). The Trust has not registered and will not register the securities under the U.S. Securities Act. The Trust does not intend to engage in a public offering of their securities in the United States.

Source: AIP Realty Trust