First Capital Real Estate Investment Trust has received strong backing from its unitholders for a previously announced internal reorganisation, following a vote held at a special meeting in Toronto on Tuesday.

The REIT confirmed that approximately 99.58% of all votes eligible to be cast were in favour of proceeding with the plan of arrangement. In total, 172,575,765 Trust Units were represented either in person or by proxy, accounting for more than 81.23% of issued and outstanding units. A final tally of the voting results will be submitted to SEDAR+ under the trust’s issuer profile.

The reorganisation is set to be carried out under the Business Corporations Act (Ontario) and the Trustee Act (Ontario). The proposal remains subject to clearance by the Ontario Superior Court, with a hearing on the Final Order scheduled for 10:00 a.m. (Toronto time) on 27 November 2025.

Unitholders and other interested parties wishing to take part in the hearing, or present evidence or arguments, have been directed to consult the management information circular dated 24 October 2025 and the interim order issued on 27 October 2025. Both documents have been filed on SEDAR+.

If granted court approval, the Arrangement is expected to take effect on 30 November 2025.

In its announcement, First Capital reiterated that the reorganisation represents an internal structural change rather than an alteration to its operational strategy or market presence. The REIT continues to focus on acquiring, developing, and operating open-air, grocery-anchored shopping centres in high-demand Canadian neighbourhoods.

The trust also issued the usual caution regarding forward-looking statements, stating that such comments reflect current expectations and may differ materially from future outcomes. These risks are outlined in its Management’s Discussion and Analysis for the year ended 31 December 2024, as well as for the three and nine months ended 30 September 2025, and in the current Annual Information Form. The REIT stressed that it does not undertake to update forward-looking information except where required by law.