Dream Impact Trust Provides Update on Quayside Development

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.

TORONTO–(BUSINESS WIRE)–DREAM IMPACT TRUST (TSX: MPCT.UN) (“Dream Impact”, “we”, “our” or “Trust”) today provides an investment update on the Quayside project.

“We are pleased to announce the completion of the Quayside partnership reorganization, which is a significant accomplishment at one of our milestone projects,” said Michael Cooper, Portfolio Manager. “Collectively, the Trust and Dream Impact Fund now own 100% of the phase 1 multi-family portfolio on a 25%/75% basis. Upon completion, Phase 1 is expected to comprise 1,100 multi-family rental units, as well as approximately 550 affordable units to be developed in partnership with Waterfront Toronto and the City of Toronto.”

In February 2026, the reorganization of the Quayside partnership was completed. This resulted in splitting the site with our external partner and the Trust and Dream Impact Fund now owning 100% of the phase 1 multi-family rental portfolio on a 25%/75% basis. Upon build-out, phase 1 is expected to comprise 1,100 multi-family market rental units, as well as approximately 550 affordable rental units to be developed in partnership with Waterfront Toronto and the City of Toronto. The Trust is in the process of securing long term government affiliated financing for this project. Similar to 49 Ontario, the Quayside project has achieved development charge relief and qualifies for HST waivers. Construction is expected to commence by the end of 2026.

About Dream Impact
Dream Impact is an open-ended trust dedicated to impact investing. Dream Impact’s underlying portfolio is comprised of exceptional real estate assets reported under two operating segments: development and recurring income, that would not be otherwise available in a public and fully transparent vehicle, managed by an experienced team with a successful track record in these areas. The objectives of Dream Impact are to create positive and lasting impacts for our stakeholders through our three impact verticals: environmental sustainability and resilience, attainable and affordable housing, and inclusive communities, while generating attractive returns for investors. For more information, please visit: www.dreamimpacttrust.ca.

Forward-Looking Information
This press release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “would”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “timeline”, “potential”, “strategy”, “targets”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events.

Some of the specific forward-looking information in this press release may include, among other things, statements relating to the Trust’s objectives and strategies to achieve those objectives; expectations regarding the Trust’s near-term construction starts; expectations regarding Quayside Phase 1 and 49 Ontario, including timelines, units delivered upon completion, number of affordable units, financing and construction commencement; the development of Phase 1 with Waterfront Toronto and the City of Toronto; the Trust’s ability to secure long-term government affiliated financing and HST waivers; and the Trust’s five-year strategic business plan including the progress thereof and timing of further updates thereto. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Trust’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: adverse changes in general economic and market conditions; liquidity risk; financing and risks relating to access to capital; interest rate risks; public health risks; risks associated with unexpected or ongoing geopolitical events, including disputes between nations, terrorism or other acts of violence, and international sanctions; inflation; risks related to the imposition of duties, tariffs and other trade restrictions and their impacts; the disruption of free movement of goods and services across jurisdictions; the risk of adverse global market, economic and political conditions and health crises; risks inherent in the real estate industry; risks relating to investment in development projects; impact investing strategy risk; risks relating to geographic concentration; risks inherent in investments in real estate, mortgages and other loans and development and investment holdings; credit risk and counterparty risk; competition risks; environmental and climate change risks; risks relating to access to capital; interest rate risk; the risk of changes in governmental laws and regulations; tax risks; foreign exchange risk; the risk that corporate activities and reviews will not have the desired impact; acquisitions risk; and leasing risks. Our objectives and forward-looking statements are based on certain assumptions, including that the general economy remains stable; the gradual recovery and growth of the general economy; that no unforeseen changes in the legislative and operating framework for our business will occur; that there will be no material change to environmental regulations that may adversely impact our business; that we will meet our future objectives, priorities and growth targets; that we receive the licenses, permits or approvals necessary in connection with our projects; that we will have access to adequate capital to fund our future projects, plans and any potential acquisitions; that we are able to identify high-quality investment opportunities and find suitable partners with which to enter into joint ventures or partnerships; that we do not incur any material environmental liabilities; there will not be a material change in foreign exchange rates; that the impact of the current economic climate and global financial conditions on our operations will remain consistent with our current expectations and that inflation and interest rates will not materially increase beyond current market expectations; that no duties, tariffs or other trade restrictions will negatively impact us; our expectations regarding the availability and competition for acquisitions remains consistent with the current climate.

All forward-looking information in this press release speaks as of February 24, 2026, unless otherwise noted. The Trust does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is disclosed in the Trust’s filings with securities regulators filed on the System for Electronic Document Analysis and Retrieval+ (www.sedarplus.ca), including its latest annual information form and MD&A. These filings are also available at the Trust’s website at www.dreamimpacttrust.ca.

Contacts

For further information, please contact:

Derrick Lau
Chief Financial Officer
416 365-2364
[email protected]

Kimberly Lefever
Director, Investor Relations
416 365-6339
[email protected]