Clarke Inc. Completes Acquisition of Ravelin Properties REIT

Halifax, Nova Scotia and Toronto, Ontario--(Newsfile Corp. - May 29, 2026) - Clarke Inc. (TSX: CKI) ("Clarke") and Ravelin Properties REIT (TSX: RPR.UN) (the "REIT") are pleased to announce the successful completion of Clarke's previously-announced acquisition of the REIT by way of plan of arrangement (the "Arrangement"). Pursuant to the Arrangement, Clarke issued an aggregate 2,500,000 common shares in the capital of Clarke (the "Clarke Shares") to acquire all of the outstanding units of the REIT (the "REIT Units") and all of the outstanding 9.00% convertible unsecured subordinated debentures, 5.50% convertible unsecured subordinated debentures and 7.50% convertible unsecured subordinated debentures (collectively, the "REIT Debentures").