Boardwalk Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust, created pursuant to the declaration of trust dated January 9, 2004, amended and updated on various dates between May 3, 2004, and May 6, 2024. Boardwalk REIT was created for the purpose of providing affordable multi-family homes where love reigns, by investing in multi-family residential buildings, or similar investments, originally through the acquisition of assets and through the activities of Boardwalk Equities Inc. Boardwalk REIT units (the Trust Units) trade on the Toronto Stock Exchange. In addition, the Trust has issued 4,250,000 special voting units to the holders of Class B units of Boardwalk REIT Limited Partnership (the Class B Limited Partnership Units and, collectively with the Trust Units, the Units), each holder also having one special voting unit in the REIT. The primary objectives of Boardwalk REIT are to provide resident members (as defined herein) with superior rental communities and the best tenant service, to provide its unitholders (the “Unitholders”) with stable monthly cash distributions, and to increase Unit value through the efficient management of its productive multi-family residential properties, renovations and upgrades to its existing portfolio, and the acquisition or development of additional profitable properties or related interests. As of September 30, 2025, Boardwalk REIT owned and operated over 200 properties, comprising approximately 34,000 residential units, with a total net leasable area of over 30 million square feet. At the end of the third quarter of 2025, Boardwalk REIT’s portfolio included properties located in British Columbia, Alberta, Saskatchewan, Ontario, and Quebec. Boardwalk Real Estate Investment Trust was incorporated in Alberta.