Ravelin Properties REIT Announces Continued Strong Support for Plan of Arrangement with Clarke Inc. and Encourages Securityholders to Vote Ahead of Proxy Cut Off

Toronto, Ontario--(Newsfile Corp. - May 20, 2026) - Ravelin Properties REIT (TSX: RPR.UN) (the "REIT") is pleased to announce securityholder support remains high for the previously announced plan of arrangement (the "Arrangement") with Clarke Inc., with 99.4% of the votes cast by holders (the "REIT Debentureholders") of the REIT's outstanding 9.00% convertible unsecured subordinated debentures, 5.50% convertible unsecured subordinated debentures and 7.50% convertible unsecured subordinated debentures to date in favour of a special resolution of REIT Debentureholders approving the Arrangement (the "Debentureholder Arrangement Resolution") and 84.5% of the votes cast by holders (the "REIT Unitholders") of units of the REIT to date in favour of a special resolution of REIT Unitholders approving the Arrangement (the "Unitholder Arrangement Resolution" and together with the Debentureholder Arrangement Resolution, the "Arrangement Resolutions"). The REIT encourages REIT Debentureholders and REIT Unitholders to vote FOR the Arrangement ahead of the proxy voting deadline of May 21, 2026 at 5:00 p.m.