CROMBIE REIT ANNOUNCES CHANGES TO BOARD OF TRUSTEES

July 15, 2024, NEW GLASGOW, NS /CNW/ - Crombie Real Estate Investment Trust ("Crombie") (TSX: CRR.UN) today announced changes to its Board of Trustees.

Crombie is pleased to announce Empire Company Limited's ("Empire") appointment of Vivek Sood to Crombie's Board of Trustees in replacement of Heidi Jamieson-Mills, effective July 15, 2024.

Born in Uganda and raised in Crombie's hometown of Pictou County, Vivek has spent the last 25 years of his career with Empire and Sobeys Inc., where he held various senior positions, including Vice President, Finance & Administration, Senior Vice President, Pharmacy Group, and Executive Vice President, Related Businesses. Prior to retiring in July 2024, Vivek was also Executive Sponsor of Empire's Diversity, Equity, and Inclusion strategy, as well as for their Enterprise Resource Planning initiative. Vivek holds a Bachelor of Commerce degree from Dalhousie University and a Master of Business Administration from Saint Mary's University. He received his Chartered Financial Analyst Designation in 2004 and completed the ICD-Rotman Directors Education Program in 2021.

"On behalf of all Crombie stakeholders, I would like to thank Heidi for her contributions to Crombie's Board of Trustees during her tenure," said Jason Shannon, Board Chair. "Her meaningful insights and rigor as a Trustee will be missed. We are excited by Vivek's appointment and look forward to the valuable perspectives and contributions he will bring to the Board."

Vivek was appointed pursuant to Empire subsidiary ECL Developments Limited's ("ECL") right under Section 3.8 of Crombie's Amended and Restated Declaration of Trust to appoint up to four trustees, based on ECL's current ownership level and size of the Board.

About Crombie REIT

Crombie invests in real estate with a vision of enriching communities together by building spaces and value today that leave a positive impact on tomorrow. As one of the country's leading owners, operators, and developers of quality real estate assets, Crombie's portfolio primarily includes grocery-anchored retail, retail-related industrial, and mixed-use residential properties. As at March 31, 2024, our portfolio contains 304 properties comprising approximately 19.2 million square feet, inclusive of joint ventures at Crombie's share, and a significant pipeline of future development projects. Learn more at www.crombie.ca.

SOURCE Crombie REIT

Media Contacts: Kara Cameron, CPA, CA, Interim Chief Financial Officer, 902-755-8100; Ruth Martin, CPA, CA, CPIR, Senior Director, Investor Relations & ESG Reporting, 902-759-0164