Revised offer is for $4.10 per Unit of BTB payable in cash for up to 8,000,000 Units

Revised offer represents 12% premium to unaffected Unit price

Provides Unitholders with immediate liquidity at a premium to market

The deadline to tender Units to the offer is extended to 5 p.m. (Eastern Standard Time) on October 15, 2025

Toronto, Ontario–(Newsfile Corp. – October 2, 2025) – Ewing Morris, on behalf of investment vehicles and accounts managed by it (“ Ewing Morris “), today announced that it has revised its all-cash offer (the “ Offer “) to purchase units (“ Units “) in the capital of BTB Real Estate Investment Trust (TSX: BTB.UN) (“ BTB ” or the “ Trust “) by increasing the price being offered from $3.80 per Unit to $4.10 per Unit (the “ Purchase Price “) and extending the

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