TORONTO, Dec. 01, 2022 — The Trustees of Allied Properties Real Estate Investment Trust (“Allied”)(TSX:AP.UN) have declared a distribution of $0.1458 per unit for December 2022, payable on January 16, 2023, to unitholders of record as of December 30, 2022, and (ii) approved an increase in monthly cash payments for 2023 of 2.9% to $0.15 per unit ($1.80 per unit annualized).

CAUTIONARY STATEMENTS

This press release may find forward-looking statements about Allied operations, strategy, financial results, and conditions. Generally, you can spot these statements because they contain words like “may,” “will,” “expect,” “estimate,” “anticipate,” “intend,” “believe,” or “continue,” or terms that have similar connotations in the negative. The results and performance of Allied that are detailed below may not exactly match what is said or implied by such statements. The inherent risks and uncertainties surrounding future expectations, especially the impact of the global pandemic and the ensuing economic dislocation, ultimately qualify such claims. Among other things, general economic and market factors, competition, modifications to governmental regulations, and the elements listed under “Risk Factors” in Allied’s Annual Information Form, which is accessible at www.sedar.com, are significant factors that could cause actual results to differ materially from expectations. These cautionary disclaimers qualify all forward-looking statements made by Allied and those acting on its behalf. All forward-looking statements, unless otherwise noted, speak only as of the publication date of this press release, and Allied disclaims any duty to update such statements.

ABOUT ALLIED

In Toronto and other major Canadian cities, Allied is a top operator of the distinctive urban workspace and network-dense UDC space. Allied aims to offer knowledge-based enterprises workspace and UDC space that is environmentally friendly and promotes connectivity, diversity, and human welfare. The mission of Allied is to consistently support communities and cultures that uplift and encourage humanity in all people.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Michael R. Emory
President and Chief Executive Officer
(416) 977-0643
memory@alliedreit.com

Cecilia C. Williams
Executive Vice President and Chief Financial Officer
(416) 977-9002
cwilliams@alliedreit.com

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