LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop REIT Advisors (“SRA”), the sponsor and an indirect subsidiary of SmartStop Self Storage REIT, Inc., has officially entered the Net Asset Value (NAV) REIT space with Strategic Storage Trust X.

With the launch of Strategic Storage Trust X, SRA is continuing its commitment to acquiring institutional-quality self-storage assets in high-growth markets. Self storage continues to demonstrate resilience and strong demand, and SRA believes this new vehicle will allow them to further capitalize on attractive opportunities across North America.

In addition to its expansion into the NAV REIT space, SRA recently entered the 1031 exchange market with the introduction by its sponsored program, Strategic Storage Growth Trust III, Inc. (“SSGT III”), of its own Delaware Statutory Trust (“DST”) platform. This move aligns with SRA’s strategic vision to offer diverse, innovative, and tax-efficient real estate investment opportunities within the self-storage sector.

SRA brings deep industry expertise, a proven track record in self-storage investment management, and a vertically integrated platform that includes acquisitions, asset management, and property operations. The firm aims to leverage its extensive experience and national presence to drive strong returns for investors while meeting the evolving needs of self-storage customers.

About SmartStop REIT Advisors, LLC

SmartStop REIT Advisors, LLC, an indirect subsidiary of SmartStop Self Storage REIT, Inc., serves as the sponsor of Strategic Storage Growth Trust III, Inc. (“SSGT III”), Strategic Storage Trust VI, Inc. (“SST VI”), and Strategic Storage Trust X (“SST X” and collectively, with SSGT III and SST VI, the “Managed REIT Platform”), while its sponsored program, SSGT III, recently launched its own DST platform in the 1031 exchange market. The Managed REIT Platform and DST platform had a combined portfolio of 37 operating properties, approximately 29,000 units, and approximately 3.2 million net rentable square feet at year-end 2024. Assets under management for the Managed REITs was approximately $771.2 million at quarter-end.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

IR@smartstop.com

Not for distribution to U.S. News Wire Services or dissemination in the United States.

TORONTO–(BUSINESS WIRE)–#ChoiceProperties–Choice Properties Real Estate Investment Trust (“Choice Properties”) (TSX: CHP.UN) announced today that the trustees of Choice Properties have declared a cash distribution for the month of February, 2025 of $0.063333 per trust unit, representing $0.76 per trust unit on an annualized basis, payable on March 17, 2025 to Unitholders of record at the close of business on February 28, 2025.

About Choice Properties Real Estate Investment Trust

Choice Properties is a leading Real Estate Investment Trust that creates enduring value through places where people thrive.

We are more than a national owner, operator and developer of high-quality commercial and residential real estate. We believe in creating spaces that enhance how our tenants and communities come together to live, work, and connect. This includes our industry leadership in integrating environmental, social and economic sustainability practices into all aspects of our business. In everything we do, we are guided by a shared set of values grounded in Care, Ownership, Respect and Excellence.

For more information, visit Choice Properties’ website at www.choicereit.ca and Choice Properties’ issuer profile at www.sedarplus.ca.

Contacts

For further information:

Mario Barrafato

Chief Financial Officer

Choice Properties REIT

(416) 628-7872

Mario.Barrafato@choicereit.ca

8.9 MW solar project designed to prevent 7,695 metric tons of carbon dioxide from entering the atmosphere each year

Ameresco will provide full operations and maintenance services for the system over the next 25 years, ensuring long-term performance and cost savings

FRAMINGHAM, Mass. & OROMOCTO, New Brunswick–(BUSINESS WIRE)–Ameresco, Inc., (NYSE: AMRC), a leading energy solutions provider dedicated to helping customers navigate the energy transition, has been awarded a major solar energy and resiliency project at the 5th Canadian Division Support Base (CDSB) in Oromocto, New Brunswick. This large-scale solar project represents a critical step toward supporting the Government of Canada’s commitment to procure 100% clean electricity for federal facilities by 2025.

The Gagetown Solar Project, a CAD $26.7 million initiative, is set to deliver an 8.9 MWdc/7.35 MWac ground-mounted solar energy system designed to provide approximately 8,900 MWh of electricity annually to the base. This project is expected to generate around 20% of the base’s electricity needs, significantly contributing to the Department of National Defence’s efforts to reduce greenhouse gas emissions. When running at full capacity, the project will prevent approximately 7,695 metric tons of carbon dioxide from entering the atmosphere each year and contribute to meeting emissions targets in the Defence Climate and Sustainability Strategy 2023-2027 – Canada.ca.

The 5 CDSB Gagetown solar project, which includes the placement of 14,496 solar panels across the base, will be operated and maintained by Ameresco under a 25-year contract. The energy generated will be used entirely on-site, providing the base with long-term energy security and resilience. In addition to reducing emissions, the project is expected to save the base approximately CAD $1.3 million annually in utility costs.

The project is part of Canada’s Federal Buildings Initiative, which seeks to improve the energy efficiency and sustainability of federal buildings across the country. The initiative at Gagetown is particularly significant given the size of the base, which encompasses more than 200 buildings with a total floor area exceeding 525,000 square meters.

Ameresco will design, engineer, procure, and construct the solar system, integrating it smoothly with the base’s existing electrical infrastructure. The system is equipped with advanced controls and monitoring technology to optimize performance throughout its lifecycle. The project is expected to be completed by June 2025, and Ameresco will provide full operations and maintenance services for the system over the next 25 years, ensuring long-term performance and cost savings.

“We’re proud to partner with the Department of National Defence on this important project,” said Bob McCullough, President of Ameresco Canada. “This solar energy solution is more than about powering Gagetown today — it’s about creating a cleaner, more sustainable future for Canada. By investing in renewable energy, we’re helping the country move closer to its long-term sustainability goals while delivering reliable, cost-effective power for years to come.”

For more information about Ameresco and its renewable energy solutions, visit www.ameresco.com.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading energy solutions provider dedicated to helping customers reduce costs, enhance resilience, and decarbonize to net zero in the global energy transition. Our comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources. As a trusted full-service partner, Ameresco shows the way by reducing energy use and delivering diversified generation solutions to Federal, state and local governments, utilities, educational and healthcare institutions, housing authorities, and commercial and industrial customers. Headquartered in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.

The announcement of a customer’s project contract is not necessarily indicative of the timing or amount of revenue from such contract, of Ameresco’s overall revenue for any particular period or of trends in Ameresco’s overall total project backlog. This project was included in Ameresco’s previously reported contracted backlog as of September 30, 2024.

Contacts

Media Contact:
Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com

LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company“), a self-managed and fully integrated self-storage company, is excited to announce the launch of its new SmartStop Self Storage Mobile App. Designed to provide convenience and flexibility, the app has been rolled out to select markets and will be available to all 210 SmartStop locations across the United States and Canada by March 2025.

The SmartStop Self Storage Mobile App allows customers to manage their storage experience directly from their smartphones. Key features include the ability to manage accounts, remotely open gates and doors, and even rent new storage units—all from the convenience of the app. By streamlining these processes, SmartStop continues prioritizing a seamless and user-friendly customer experience.

“At SmartStop, we are always looking for ways to enhance the customer experience, and our new mobile app is a perfect example of how we leverage technology to do just that,” said H. Michael Schwartz, Chairman and CEO of SmartStop. “This innovative tool provides customers with unparalleled convenience and flexibility, reinforcing our commitment to making self storage as simple and stress-free as possible.”

The app represents another milestone in SmartStop’s efforts to embrace technology and meet the evolving needs of its customers. From online account management to touchless access features, the app empowers users with tools to make their storage experience more efficient and intuitive. The SmartStop Self Storage Mobile App is available for download free of charge on iOS and Android devices in the Apple and Google app stores.

About SmartStop Self Storage REIT, Inc. (SmartStop):

SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 560 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of February 7, 2025, SmartStop has an owned or managed portfolio of 210 operating properties in 22 states, the District of Columbia, and Canada, comprising approximately 151,000 units and 16.9 million rentable square feet. SmartStop and its affiliates own or manage 38 operating self-storage properties in Canada, which total approximately 32,900 units and 3.4 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

IR@smartstop.com

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or the “Trust”) (TSX: PMZ.UN) announced today that its Board of Trustees has declared a distribution of $0.0717 per unit for the month of February 2025, representing $0.86 per unit on an annualized basis. The distribution will be payable on March 17, 2025 to unitholders of record on February 28, 2025.

About Primaris Real Estate Investment Trust

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in leading enclosed shopping centres located in growing mid-sized markets. The proforma portfolio totals 15.0 million square feet, valued at approximately $4.6 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.

For more information: TSX: PMZ.UN www.primarisreit.com www.sedarplus.ca

Contacts

Alex Avery

Chief Executive Officer

416-642-7837

aavery@primarisreit.com

Rags Davloor

Chief Financial Officer

416-645-3716

rdavloor@primarisreit.com

Claire Mahaney

VP, Investor Relations & ESG

647-949-3093

cmahaney@primarisreit.com

Timothy Pire

Chair of the Board

chair@primarisreit.com

NEVIS, Saint Kitts and Nevis–(BUSINESS WIRE)–Platinum Developments (Nevis) Limited (Platinum) and MST Rebar Inc. announce the opening of the MST Rebar Distribution Center in St. Kitts & Nevis. Strategically located at Clifton Estate, Island Main Road, St. Thomas Parish, in Nevis. The facility aims to provide easy access to the highest-quality GFRP rebar products for the CARICOM region. https://platinumdevelopments.net/platinum-developments-opens-mst-rebar-distribution-center-in-st-kitts-and-nevis/

“Our company has tested MST Glass Fiber Reinforced Polymer (GFRP) products in its own developments and is fully convinced of their superiority to steel rebars,” said Joseph Katsman, Director of Platinum. “For the Caribbean coastal environment this product is ideal. It is rust free, incredibly strong, green and cost effective to install. The lightweight nature of MST GFRP significantly reduces labor time and effort, leading to further savings in construction costs.”

MST Rebar Inc. CEO, Borna Hajimiragha said, “Platinum Developments is an extension of our factory in the CARICOM region. St. Kitts and Nevis is a central location for distribution and we anticipate gradual market penetration as users become educated about the benefits of GFRP.”

Errol F. Douglas, Senior Engineering Consultant said, “With over 35 years of experience in designing resilient building structures I recognize the unparalleled advantages of MST GFRP rebars. These rebars are not just about innovative construction; they redefine durability with their exceptional tensile strength, corrosion resistance, and sustainability especially suited for the Caribbean and coastal areas. Certified under rigorous international standards including ACI, ASTM, and CSA, MST GFRP rebars promise a future where our buildings withstand harsh environments while reducing our carbon footprint.”

About Platinum Developments

Platinum Developments specializes in designing and constructing luxury properties across the Caribbean, delivering turnkey projects that meet the highest client expectations. The company integrates state-of-the-art products, advanced construction materials, and cutting-edge technologies sourced from the world’s leading manufacturers, which it also represents and services. www.platinumdevelopments.net

For more information visit: https://platinumdevelopments.net/partners-list/mst-bar/

Contacts

Media Contact
Gary Colt

Tel: +1 (869) 662 7256

E-mail: info@platinumcmd.com

• Furthers and continues to scale DXP’s National Rotating Equipment efforts
• Establishes meaningful presence in Florida
• Continues to accelerate end market diversification

HOUSTON–(BUSINESS WIRE)–#acquisitions—DXP Enterprises, Inc. (NASDAQ: DXPE) today announced that it has completed the acquisition of Arroyo Process Equipment (“Arroyo”). Founded in 1968, Arroyo is headquartered in Bartow, Florida and operates out of three locations servicing northern, central, and southern Florida, and surrounding markets.

Arroyo is a leading distributor of pumps, process equipment, and related service and repairs focused on serving the asphalt, mining, industrial water, chemical and other industrial markets. DXP funded the acquisition with cash from the balance sheet.

“We are pleased to announce the acquisition of Arroyo Process Equipment. We have always respected and followed Arroyo’s success over the years. Arroyo adds another great company to our rotating equipment platform and furthers our vision around being the leading North American rotating equipment company. Arroyo provides DXP with exceptional sales expertise that will enhance our efforts and ability to collaborate and serve our customers and grow DXP further. Arroyo provides us with a clear leader in Florida,” commented David Little, Chairman, and Chief Executive Officer of DXP.

The signing of the definitive agreement occurred on January 31, 2025. Sales and adjusted EBITDA for Arroyo for the last twelve months ending December 31, 2024, were approximately $26.3 million and $1.3 million, respectively. Adjusted EBITDA was calculated as income before tax, plus interest, plus depreciation and amortization, plus non-recurring items less go-forward selling costs.

“Arroyo’s expertise and strategic presence in Florida will complement DXP’s breadth of technical products and services. This transaction will not only allow us to continue with our existing marketing strategies, but also gives us notable talent as we continue to find resources to serve our customers better,” added David Little.

Kent Yee, Chief Financial Officer, stated “We are very excited to have Arroyo as a part of DXP. We have dialogued for some time and welcome Arroyo’s talented and hardworking employees to the DXP team. We continue to execute on our strategy of making acquisitions in markets and business models where we can continue to enhance DXP. Arroyo continues to diversify DXP’s end markets and provides scale in Florida, a market we have not historically served well. This transaction will be positive for Arroyo and DXP’s customers, employees, and shareholders.”

About DXP Enterprises, Inc.

DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada, Mexico, and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production (“MROP”) services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP’s breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. For more information, go to www.dxpe.com.

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include but are not limited to; ability to obtain needed capital, dependence on existing management, leverage, and debt service, domestic or global economic conditions, and changes in customer preferences and attitudes. In some cases, you can identify forward-looking statements by terminology such as, but not limited to, “may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or the negative of such terms or other comparable terminology. For more information, review the Company’s filings with the Securities and Exchange Commission.

Contacts

Kent Yee

Senior Vice President CFO

713-996-4700 – www.dxpe.com

DEERFIELD BEACH, Fla.–(BUSINESS WIRE)–#ExecutiveProtection–Prosegur Security, a global leader in security solutions, is proud to announce a strategic partnership with Clandestine Development, Inc., DBA-Kinetic Global, a leader in critical event management and risk intelligence. This collaboration will provide clients with advanced access to Kinetic Global’s Critical Event Management (CEM) platform modules, enhancing risk mitigation and intelligence capabilities.

Operating across 175 countries, Kinetic Global delivers a comprehensive approach to emergency and incident management. Through this partnership, Prosegur’s Global Risk Services division will integrate Kinetic Global’s solutions into its Virtual Security Operations Center (vSOC). The vSOC combines cutting-edge technology, intelligent data processing, and expert analysts to provide remote security management and business process oversight.

Prosegur’s clients will gain access to an extensive suite of CEM modules through Kinetic Global’s platform. These tools, available on both web and mobile platforms, will enhance preparedness, compliance, communication, and risk intelligence, ensuring the safety of employees worldwide.

“This partnership between two prominent security industry leaders marks a significant milestone in the evolving landscape of security. Combining Prosegur’s Global Risk Services network and Kinetic Global’s technology-driven solution for global emergency and incident management will deliver cutting-edge solutions to mitigate risk. This strategic partnership enables us to leverage Prosegur’s global reach, ensuring our clients can safeguard their employees worldwide with unparalleled precision and reliability,” stated Peter Cahill, CEO of Kinetic Global.

Through this collaboration, Kinetic Global will deliver smarter, technology-driven services, including pre-travel safety advice, risk reduction techniques, and real-time medical and security support for both domestic and international locations. This integration ensures corporate security managers have the necessary insights and control to fulfill their duty of care responsibilities through a seamless, unified platform.

Kinetic Global’s CEM platform consists of eight primary modules, each with a variety of customizable features under a single integrated software solution. Recognizing the diverse needs of global enterprises, these modules can be configured to integrate seamlessly with Travel Management Companies and HRIS systems, allowing for tailored security solutions.

“The integration of Kinetic Global’s CEM platform modules with Prosegur’s vSOC capabilities marks a significant step forward in our mission to empower global enterprises with the insights and control needed to navigate today’s dynamic risk environment,” said Robert Dodge, CEO of the Global Risk Services, a division of Prosegur Security.

“Through this collaboration, we are committed to delivering a suite of solutions that not only mitigate risks but also enhance business resilience, ensuring our clients have the most advanced tools to protect their people and assets,” added Dan Bissmeyer, Senior Vice President of Global Risk Services at Prosegur Security.

Prosegur remains dedicated to providing global enterprises with cutting-edge security solutions that enhance operational safety. By leveraging its extensive global network, advanced analytics, and expert security professionals, Prosegur ensures that clients have the necessary resources to navigate an increasingly complex risk environment. Initially launching in the United States, this partnership will expand Prosegur’s ability to address the challenges faced by Western travelers and U.S.-based organizations, offering a seamless, technology-driven approach for risk mitigation.

About Kinetic Global

Kinetic Global is a global duty of care and security company operating in more than 175 countries. Utilizing patented technology and ground assets, Kinetic Global provides risk intelligence, personal safety, travel security, and enhanced mass notifications with comprehensive global imagery and proprietary AI algorithms. The Kinetic Global Critical Event Management platform ensures operational safety and security oversight for businesses worldwide. A wide range of companies, including government agencies, NGOs, and Fortune 500 firms, rely on Kinetic Global services. For more information, visit www.kineticglobal.com.

About Prosegur Security

Founded in 1976, Prosegur is a global leader in security services, providing advanced technology, tailored guarding programs, and global risk services. The company delivers high-impact security solutions to counter evolving threats. Publicly listed on the Spanish stock exchange, Prosegur has generated over $4.5 billion in revenue and employs approximately 175,000 professionals across more than 30 countries, continually setting new standards in security solutions.

With 14 state-of-the-art Security Operations Centers (iSOCs) worldwide, Prosegur integrates human expertise with technology to provide optimal protection. This blend of innovation, skill, and operational excellence has established Prosegur as a trusted leader in global security.

Prosegur is committed to environmental, social, and governance best practices, with sustainability as a strategic pillar. For more information on Prosegur Security and its Global Risk Services division, visit www.prosegur.us.

Contacts

Media contact:
Rya Manners, Vice President of Marketing – North America

Email: rya.manners@prosegur.com

FRANKLIN, Ky.–(BUSINESS WIRE)–#AdhesiveTapes—Nautic Partners, LLC (“Nautic”), in partnership with management, has officially completed its acquisition of the Specialty Tapes business from Berry Global Group, Inc. (NYSE: BERY), unveiling the newly branded company, Vybond^™. As a standalone business, Vybond is positioned to expand its leadership in pressure-sensitive adhesive tapes, delivering innovative solutions to industrial and specialty markets worldwide.

With its headquarters in Franklin, KY, and operations in Riverhead, NY, and Bristol, RI, Vybond boasts a diverse portfolio of over 1,500 SKUs across 500+ product families. Vybond’s expansive portfolio includes over 60 years of heritage from brands such as Adchem^®, Ludlow^®, Nashua^®, Patco^®, and Polyken^®, serving industries such as HVAC, Building & Construction, Medical, Aerospace, Automotive, and Retail–the company’s products are relied upon by more than 1,500 customers globally. As an independent entity, Vybond is now poised to accelerate its growth by innovating new product offerings and enhancing its ability to respond to evolving customer needs.

Sean Wieland, Managing Director at Nautic Partners, highlighted the tremendous opportunity ahead for Vybond: “Vybond represents a powerful combination of technical expertise, customer-centric service, and market leadership. As a standalone business, it has the agility and focus needed to push boundaries, expand its reach, and drive innovation in the specialty materials space. We are excited that this is just the beginning of a new chapter of growth for Vybond.”

Mike Hill, Vybond CEO, emphasized the unique potential of Vybond in its next phase: “Vybond’s foundation as a trusted partner to its customers, coupled with its ability to deliver high-performance solutions across industries, positions it for exceptional growth. By leveraging its technical capabilities and focusing on untapped opportunities, Vybond has the potential to set new benchmarks in the industry.”

Nautic Partners plans to accelerate Vybond’s development by investing in new technologies, operational capabilities, and market expansion. Backed by its strong reputation and now equipped with greater independence and focus, Vybond is set to explore new capabilities, deliver innovative solutions, and deepen its relationships with customers across the globe.

With this transition complete, Vybond is ready to shape the future of specialty tapes and adhesives, redefining what’s possible in its markets. For more information about Vybond and its innovative products, please visit vybond.com or contact media@vybond.com.

Contacts

media@vybond.com

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or the “Trust”) (TSX: PMZ.UN) announces that on Friday January 31, 2025 it closed the transaction, originally announced on January 22, 2025, for the purchase of a 50% interest in Southgate Centre in Edmonton, Alberta and a 100% ownership interest in Oshawa Centre in Oshawa, Ontario. The transaction, which was subject to customary closing conditions, all of which have been fulfilled or waived, was for aggregate consideration of $585.0 million, satisfied by a combination of cash and equity, as described in the January 22 press release. The acquisition of Southgate Centre and Oshawa Centre is consistent with Primaris’ well defined growth strategy focused on market leading shopping centres in growing Canadian markets.

About Primaris Real Estate Investment Trust

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests in leading enclosed shopping centres located in growing Canadian markets. The proforma portfolio totals 15.0 million square feet, valued at approximately $4.6 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.

For more information:
TSX: PMZ.UN www.primarisreit.com www.sedarplus.ca

Contacts

Alex Avery

Chief Executive Officer

416-642-7837

aavery@primarisreit.com

Rags Davloor

Chief Financial Officer

416-645-3716

rdavloor@primarisreit.com

Claire Mahaney

VP, Investor Relations & ESG

647-949-3093

cmahaney@primarisreit.com

Timothy Pire

Chair of the Board

chair@primarisreit.com

HOUSTON & CALGARY, Alberta–(BUSINESS WIRE)–Civeo Corporation (NYSE:CVEO) announced today that its board of directors has declared a quarterly cash dividend of $0.25 per common share, payable on March 17, 2025 to shareholders of record as of close of business on February 24, 2025. For purposes of the Income Tax Act (Canada), the Company has designated this dividend to be an “eligible dividend”.

About Civeo:

Civeo Corporation is a leading provider of hospitality services with prominent market positions in the Canadian oil sands and the Australian natural resource regions. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications systems, security and logistics services. Civeo currently owns and operates a total of 24 lodges and villages in North America and Australia with an aggregate of approximately 26,000 rooms. In addition, Civeo operates and provides hospitality services at 22 customer-owned locations with more than 18,000 rooms. Civeo is publicly traded under the symbol CVEO on the New York Stock Exchange. For more information, please visit Civeo’s website at www.civeo.com.

Contacts

Regan Nielsen

Civeo Corporation

Vice President, Corporate Development & Investor Relations

713-510-2400

NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO–(BUSINESS WIRE)–Granite Real Estate Investment Trust (“Granite”) (TSX: GRT.UN / NYSE: GRP.U) announced today that its wholly owned subsidiary Granite REIT Holdings Limited Partnership (“Granite LP”) has priced an offering on January 30, 2025 (the “Offering”) of C$300 million aggregate principal amount of Series 10 senior unsecured debentures that will bear interest at Daily Compounded CORRA plus 0.77% per annum, payable quarterly in arrears, and will mature on December 11, 2026 (the “Debentures”). The Debentures will be guaranteed by Granite and Granite REIT Inc. The Offering is expected to close on or about February 4, 2025, subject to the satisfaction of certain customary closing conditions.

The Debentures are being offered on an agency basis by a syndicate of agents co-led by Scotia Capital, TD Securities and Desjardins Securities. It is a condition of closing that Morningstar DBRS assign a credit rating of “BBB (high)” with a stable trend or higher relating to the Debentures.

The Offering is being made on a private placement basis in each of the provinces and territories of Canada. The Debentures will rank equally with all other senior unsecured indebtedness of Granite.

Granite LP intends to use the net proceeds from the Offering to repay in full its C$300 million senior unsecured non-revolving term facility, maturing on December 11, 2026 (the “Term Loan”), immediately following the closing of the Offering, and, the balance of the net proceeds, if any, will be used for general corporate purposes. The Term Loan is fully prepayable without penalty.

Through an existing cross currency interest rate swap, Granite LP has exchanged the Canadian dollar denominated principal and floating rate interest payments related to the Debentures for Euro denominated principal and fixed interest payments, resulting in an effective fixed interest rate of 0.27% for the term of the Debentures.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT GRANITE

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 143 investment properties representing approximately 63.3 million square feet of leasable area.

OTHER INFORMATION

Copies of financial data and other publicly filed documents about Granite are available through the internet on SEDAR+ which can be accessed at www.sedarplus.ca and on the United States Securities and Exchange Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which can be accessed at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, and the Debentures may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended.

For further information, please see our website at www.granitereit.com or contact Teresa Neto, Chief Financial Officer, at 647-925-7560 or Andrea Sanelli, Senior Director, Legal & Investor Services, at 647-925-7504.

FORWARD LOOKING STATEMENTS

This press release may contain statements that, to the extent they are not recitations of historical fact, constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities legislation, including the United States Securities Act of 1933, as amended, the United States Securities Exchange Act of 1934, as amended, and applicable Canadian securities legislation. Forward-looking statements and forward-looking information may include, among others, statements regarding the expected closing date of the Offering, the use of the net proceeds of the Offering, the expected final credit rating for the Debentures, and Granite’s plans, goals, strategies, intentions, beliefs, estimates, costs, objectives, economic performance, expectations, or foresight or the assumptions underlying any of the foregoing. Words such as “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “seek”, “objective” and similar expressions are used to identify forward-looking statements and forward-looking information. Forward-looking statements and forward-looking information should not be read as guarantees of the expected closing date of the Offering, the use of the net proceeds of the Offering, the expected final credit rating for the Debentures, or other events, performance or results and will not necessarily be accurate indications of whether or the times at or by which future events or performance will be achieved. Undue reliance should not be placed on such statements. Forward-looking statements and forward-looking information are based on information available at the time and/or management’s good faith assumptions and analyses made in light of its perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances, and are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond Granite’s control, that could cause actual events or results to differ materially from such forward-looking statements and forward-looking information. Important factors that could cause such differences include, but are not limited to, the risks set forth in the annual information form of Granite Real Estate Investment Trust and Granite REIT Inc. dated February 28, 2024 (the “Annual Information Form”) and management’s discussion and analysis of results of operations and financial position for the three and nine month periods ended September 30, 2024 (“Q3 MD&A”). The “Risk Factors” section of the Annual Information Form and the “Risks and Uncertainties” section of the Q3 MD&A also contain information about the material factors or assumptions underlying such forward-looking statements and forward-looking information. Forward-looking statements and forward-looking information speak only as of the date the statements and information were made and unless otherwise required by applicable securities laws, Granite expressly disclaims any intention and undertakes no obligation to update or revise any forward-looking statements or forward-looking information contained in this press release to reflect subsequent information, events or circumstances or otherwise.

Contacts

Teresa Neto, Chief Financial Officer

647-925-7560

or

Andrea Sanelli, Senior Director, Legal & Investor Services

647-925-7504