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

Dream Residential REIT (TSX: DRR.U) has renewed its normal course issuer bid (NCIB) for a one-year period, allowing it to purchase up to 10% of its public float of Trust Units for cancellation. The Trust has also established an automatic securities purchase plan (the "Plan") with its designated broker to facilitate the purchase of Units under the NCIB at times when the Trust would ordinarily not be permitted to purchase its Units due to regulatory restrictions or self-imposed blackout periods. The Plan has been pre-cleared by the Toronto Stock Exchange (TSX) and will terminate on January 7, 2025.

The Trust has renewed its NCIB because it believes that Units may become available during the period of the bid at prices that would make the purchase of such Units for cancellation in the best interests of the Trust and its unitholders. The Trust previously sought and received approval from the TSX to purchase up to 973,418 Units for the period from January 6, 2023, to January 5, 2024. Under this bid, the Trust purchased for cancellation 150,758 Units through the facilities of the TSX at a weighted average price per Unit of US$8.12 for a total cost of approximately US$1.2 million.

The automatic securities purchase plan enables the Trust's broker to make purchases on the Trust's behalf based on the parameters prescribed by the TSX and the terms of the parties' written agreement. This ensures that the Trust can continue to repurchase Units even during periods when it may not be able to do so directly. Additionally, outside of restricted or blackout periods, the Units may also be purchased in accordance with Management's discretion, providing the Trust with flexibility in its repurchasing strategy.

Dream Residential REIT is an unincorporated, open-ended real estate investment trust established and governed by the laws of the Province of Ontario. Dream Residential REIT owns a portfolio of garden-style multi-residential properties, primarily located in three markets across the Sunbelt and Midwest regions of the United States. For more information, please visit our website at .

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Insert chart showing Dream Residential REIT's share price performance over the past year, highlighting the impact of the previous NCIB on the share price.

In conclusion, Dream Residential REIT's renewal of its normal course issuer bid and the establishment of an automatic securities purchase plan demonstrate the Trust's commitment to creating value for its unitholders. By repurchasing Units at favorable prices, the Trust aims to enhance the value of its remaining Units and potentially increase the share price. The Plan ensures that the Trust can continue to repurchase Units even during periods when it may not be able to do so directly, providing the Trust with flexibility in its repurchasing strategy. As a result, unitholders can expect the Trust to continue to focus on creating value and enhancing the overall performance of the Trust.