FLAGSHIP COMMUNITIES REAL ESTATE INVESTMENT TRUST ANNOUNCES PUBLICATION OF ITS SECOND SUSTAINABILITY REPORT

TORONTO, May 12, 2022 /CNW/ - Flagship Communities Real Estate Investment Trust ("Flagship" or the "REIT") (TSX: MHC.U) announced today it has published its second Environmental, Social and Governance (ESG) sustainability report (the "Report"). The Report highlights the responsibilities of the REIT through its ongoing commitment to the health and safety of its communities, the protection of the environment and the welfare of its employees.

"We are pleased to announce the release of our second ESG report with our shareholders as we recognize that our commitment to ESG makes us better operators, supports transparency and strong governance, contributes to improved safety and environmental performance, and strengthens our connection with local communities," said Kurt Keeney, CEO. "Our progress includes continuing to focus on water reclamation through our expanded water and sewer monitoring program along with the continued installation of solar lighting within our communities."

This Report contains standard disclosures from the Global Reporting Initiative (GRI) Sustainability Reporting Standards, prepared largely in accordance with the Core option and also considers the reporting framework outlined by The Sustainability Accounting Standards Board (SASB). The Report includes the energy savings achieved in manufactured housing units compared to traditional on-site construction-built homes. Also included are statements detailing Flagship's commitment as operators, supporting transparency and strong governance, contributing to improved safety and environmental performance, and strengthening their connection with local communities.

The report can be found on the REIT's website at https://flagshipcommunities.com/wp-content/uploads/esg_report_2021_flagship_communities_reit.pdf.

The REIT's Waterford Pointe Community was recently named Community of the Year (East) by the national Manufactured Housing Institute. The company also was named the winner of the Business Impact Award by the Northern Kentucky Chamber of Commerce.

About Flagship Communities Real Estate Investment Trust

Flagship Communities Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been formed to own and operate a portfolio of income-producing manufactured housing communities located in Kentucky, Indiana, Ohio, Tennessee, Arkansas, Missouri, and Illinois, including a fleet of manufactured homes for lease to residents of such housing communities.

SOURCE Flagship Communities Real Estate Investment Trust

Eddie Carlisle, Chief Financial Officer, Flagship Communities Real Estate Investment Trust, Tel: [phone]