Nova Net Lease REIT ANNOUNCES RESULTS OF VOTING AT ANNUAL AND SPECIAL MEETING OF UNITHOLDERS

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TORONTO, Aug. 24, 2022 /CNW/ - Nova Net Lease REIT (the "REIT") (CSE: NNL.U) (OTCQB: NNLRF), a Canadian-US cross-border real estate investment trust focused on specialty agricultural assets in the United States, announced today the results of voting at its annual and special meeting of unitholders held on August 23, 2022 (the "Meeting").

All of the nominees listed in the management information circular prepared in connection with the Meeting were elected as trustees of the REIT. The REIT received votes as set out below:

Nominee	Votes For	% of Votes For	Votes Withheld	% of Votes Withheld
Katie Barthmaier	2,570,543	100 %	0	0 %
Patrick Burke	2,570,543	100 %	0	0 %
Steve Dawson	2,570,543	100 %	0	0 %
Edward Lowenthal	2,570,543	100 %	0	0 %
Andrew Oppenheim	2,570,543	100 %	0	0 %
Andrew Shapack	2,570,543	100 %	0	0 %
Rick Turner	2,570,543	100 %	0	0 %

In addition, the REIT reports that (i) a resolution approving the REIT's second amended and restated declaration of trust, which amends the investment guideline governing the REIT's investments in mortgages and mortgage bonds, was approved by 100% of the votes represented at the Meeting, and (ii) the appointment of MNP LLP as the REIT's auditors for the 2022 fiscal year was passed by 100% of the votes represented at the Meeting.

The REIT's full report of voting results on matters presented at the Meeting can be found at www.sedar.com.

SOURCE Nova Net Lease REIT

Stacy Riffe, Chief Financial Officer, Nova Net Lease REIT, Tel: [phone]