Profile The Trust BTB REIT is an unincorporated open-ended real estate investment trust formed and governed under the laws of the Province of Québec pursuant to a Contract of Trust. BTB REIT focuses on acquiring and owning income-producing mid-market office, industrial and retail properties in both primary and secondary markets across Canada with an initial focus in geographic markets east of Ottawa, Ontario, with the objective of producing a geographically and sectorally diversified portfolio of properties with stable and growing cash flows. BTB REIT believes that these mid-market properties represent a more favourable risk/return investment environment with fewer national competitors and provide greater opportunities to make accretive acquisitions. BTB REIT has a strong executive team, including management and Trustees with a breadth of experience in all facets of commercial real estate including acquisitions, asset management, development, property management, lease administration and asset level and corporate finance. In addition, the management and Trustees of BTB REIT have well established relationships with property owners in various sectors, particularly in geographical markets east of Ottawa, Ontario. Such relationships will allow BTB REIT to identify and complete acquisitions, in certain instances, through off-market transactions which can be completed at a valuation that is accretive to all Unitholders. The initial geographic focus will allow BTB REIT to concentrate on sourcing new acquisitions in a well-defined geographical area. Management believes that there are a significant number of acquisition opportunities in the geographical markets east of Ottawa, Ontario; acquisitions which management believes can be purchased at attractive capitalization rates. The objectives of BTB REIT are to: (i) generate stable and growing cash distributions on a tax-efficient basis; (ii) enhance the value of BTB REIT's assets and maximize long-term Unit value through the active management of its assets; and (iii) expand the asset base of BTB REIT and increase its Distributable Income through an accretive acquisition program. Name and Formation BTB REIT was established pursuant to a Contract of Trust in order to facilitate a proposed Qualifying Transaction by ABTB Capital, a CPC listed on the Exchange. The Qualifying Transaction was effected by way of an Arrangement under section 192 of the CBCA involving Capital ABTB, BTB REIT and TB Subsidiary Trust and the shareholders of Capital ABTB, which will result in, among other things, all issued and outstanding Shares now exchanged for Units on the basis of the Exchange Ratio.