MARWEST APARTMENT REAL ESTATE INVESTMENT TRUST ANNOUNCES Q1 2026 RESULTS

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ WINNIPEG, MB , May 21, 2026 /CNW/ - Marwest Apartment Real Estate Investment Trust (the "REIT" ) (TSXV: MAR ) reported financial results for the three months ended March 31, 2026. This press release should be read in conjunction with the REIT's Unaudited Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis ( " Q1 2026 MD&A " ) for the three months ended March 31, 2026, which are available on the REIT's website at www.marwestreit.com and at www.sedarplus.ca . "Q1 has shown stable occupancy with rental increases of 1.9% over the same period last year. We anticipate continued modest increases throughout the remainder of 2026, due to reduced immigration and non-renewal of existing non-resident visa's" commented Mr. William Martens, Chief Executive Officer of the REIT. Q1 2026 Quarterly Highlights Same Property Revenue increased by 2.22% in the three months ended March 31, 2026 compared to same period 2025 $79,261 of positive cash was generated during the three months ended March 31, 2026 Reported Net Asset Value per Unit (" NAV ") of $2.47 at March 31, 2026 compared to $2.46 at December 31, 2025 Average occupancy rate of 98.37% reported for the three months ended March 31, 2026 in line with 98.14% in the same period 2025 Operations Summary Three months ended March 31 Portfolio Operation Information 2026 2025 Number of properties 4 4 Number of suites 516 516 Average occupancy ate 98.37 % 98.14 % Average rental rate to date $1,760 $1,727 Three months ended March 31 Reconciliation of Same Property NOI 1 to IFRS 2026 2025 Revenue from investment properties $ 2,694,078 $ 2,635,142 Expenses: Property operating expenses 693,151 694,292 Realty taxes 357,204 317,432 Total property operating expenses 1,050,355 1,011,724 Same Property NOI 1