ERES Files Management Information Circular in Connection with the Special Meeting to Approve Acquisition by Canadian Apartment Properties Real Estate Investment Trust

TORONTO, April 01, 2026 (GLOBE NEWSWIRE) -- European Residential Real Estate Investment Trust (“ERES” or “the REIT”) (TSX: ERE.UN) announced today that it has filed its management information circular (the “Information Circular”) and related materials (together with the Information Circular, the “Meeting Materials”) in respect of its previously announced special meeting (the “Meeting”) of the holders (the “Unitholders”) of trust units of the REIT (“Units”) and non-participating special voting units of the REIT (“SVUs”) to be held to consider and vote on the proposed Arrangement (as defined below).

At the Meeting, Unitholders and their duly appointed proxyholders will be asked to consider, and if thought advisable, to pass, a special resolution (the “Arrangement Resolution”) relating to a proposed plan of arrangement (the “Arrangement”) whereby an affiliate of Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) will acquire all of the issued and outstanding Units of ERES not already owned by CAPREIT and its affiliates for consideration of $1.19 per Unit (the “Consideration”) in an all-cash transaction, on and pursuant to the terms of the arrangement agreement entered into on March 2, 2026, as amended on March 20, 2026 (the “Arrangement Agreement”).

The Meeting is scheduled to be held in a virtual-only meeting format via live webcast online at at 10:00 a.m. (Toronto time) on April 27, 2026. The Meeting Materials have been filed by the REIT on SEDAR+ and are available under the REIT’s profile at , and on the REIT’s website at .

If you have any questions or need assistance in your consideration of the Arrangement or with the completion and delivery of your proxy, please contact the REIT’s strategic unitholder advisor and proxy solicitation agent, Shorecrest Group, by telephone toll free at 1-888-637-5789 or collect at 647-931-7454, or by email at .

After receiving the unanimous recommendation of a special committee of independent trustees of the REIT Board (the “Special Committee”), and based on advice from its independent financial and legal advisors, the REIT Board unanimously (with conflicted trustees abstaining) determined that the Arrangement is in the best interests of the REIT and the Consideration to be received by Unitholders, other than CAPREIT and its affiliates (the “Public REIT Unitholders”), is fair, from a financial point of view, to Public REIT Unitholders and is unanimously (with conflicted trustees abstaining) recommending that the Public REIT Unitholders vote FOR the Arrangement Resolution.

The Meeting Materials contain important information regarding the Arrangement and related matters, how Unitholders can participate and vote at the Meeting, and the background that led to the Arrangement, including the reasons for the recommendations of the Special Committee and REIT Board. Unitholders should carefully review all Meeting Materials. Unitholders of record at the close of business on March 16, 2026 will be entitled to receive notice of and vote at the Meeting.

To be effective, the Arrangement Resolution must be approved by (a) not less than 66 2/3% of the votes cast on the Arrangement Resolution by holders of the Units and the SVUs, voting together as a single class, present in person or represented by proxy at the Meeting and (b) a majority of the votes cast on the Arrangement Resolution by Public REIT Unitholders (excluding, for this purpose, any person whose votes are required to be excluded under applicable securities laws for purposes of determining minority approval for the Arrangement) present in person or represented by proxy at the Meeting.

The anticipated hearing date for the application for the final order of the Court (the “Final Order”) is April 29, 2026. Subject to obtaining the required approval of the Unitholders at the Meeting, the Final Order and the satisfaction or waiver of the conditions to implementing the Arrangement as set out in the Arrangement Agreement, the Arrangement is anticipated to be completed in the second quarter of 2026.

VOTING

Details of how Unitholders or their duly appointed proxyholders can attend, access and participate in the Meeting are set out in the Meeting Materials.

Registered Unitholders and duly appointed proxyholders may attend and vote at the Meeting. If you are a registered Unitholder, to vote by proxy, return your completed form of proxy, signed (by you, or by your attorney authorized in writing, or if you are a corporation, by a duly authorized officer or attorney) and dated (with the date on which it is executed), to the Transfer Agent, TSX Trust Company, in the envelope provided to you by mail or hand delivery at 301 – 100 Adelaide Street West, Toronto, Ontario, M5H 4H1, by facsimile at (416)-595-9593, or online at .

Non-registered Unitholders who have not duly appointed themselves as proxyholders may attend the Meeting as guests. Guests will be able to listen to the Meeting online but will not be able to vote or ask questions at the Meeting. Non-registered Unitholders who wish to vote at the Meeting must (a) appoint themselves as proxyholder by inserting their name in the space provided for appointing a proxyholder on the voting instruction form and (b) follow all of the applicable instructions, including the deadline, provided by their intermediary. If you are a non-registered Unitholder, unless you wish to vote at the Meeting, you should follow the instructions in the voting instruction form that you received from your intermediary.

Duly appointed proxyholders, including non-registered Unitholders who have appointed themselves as proxyholders to vote at the Meeting, must also register with TSX Trust Company by submitting a "Request for control number" form, which can be found at , to no later than the proxy voting deadline. Registered Unitholders will find their control number on their form of proxy. Without a control number, proxyholders will only be able to attend the Meeting as guests and will not be able to vote or ask questions.

The proxy voting deadline is at 10:00 a.m. (Toronto time) on April 24, 2026, or 24 hours (excluding Saturdays, Sundays and holidays) prior to any adjournment or postponement of the Meeting.

ABOUT ERES

ERES is an unincorporated, open-ended real estate investment trust. The ERES Units are listed on the TSX under the symbol ERE.UN. ERES is Canada’s only European-focused multi-residential REIT, with a current portfolio of high-quality, multi-residential real estate properties in the Netherlands. As at December 31, 2025, ERES owned 1,029 residential suites, including 410 suites classified as assets held for sale, and ancillary retail space located in the Netherlands, with a total fair value of approximately €310.1 million, including approximately €87.9 million of assets held for sale. ERES’s registered and principal business office is located at 11 Church Street, Suite 401, Toronto, Ontario M5E 1W1. For more information please visit ERES’s website at

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION

Certain statements contained in this press release, including statements with respect to the Meeting including the anticipated date of the Meeting and the delivery of the Meeting Materials, constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the Meeting; the consummation and timing of the Arrangement; the satisfaction of the conditions precedent to the Arrangement; the receipt of the required approvals of the Unitholders at the Meeting; the anticipated hearing date for the Final Order and the receipt of the Final Order and the expected timing of closing of the Arrangement, may be forward-looking information. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intent”, “estimate”, “anticipate”, “believe”, “consider”, “should”, “plans”, “predict”, “estimate”, “forward”, “potential”, “could”, “likely”, “approximately”, “scheduled”, “forecast”, “variation” or “continue”, or similar expressions suggesting future outcomes or events. The forward-looking information in this press release relates only to events or information as of the date on which the statements are made in this press release. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking information contained in this press release. Any number of factors could cause actual results to differ materially from this forward-looking information. Although ERES believes that the expectations reflected in forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Such forward-looking information is based on a number of assumptions that may prove to be incorrect. Accordingly, readers should not place undue reliance on forward-looking information.

Forward-looking information in this press release is subject to certain risks and uncertainties that could result in actual results differing materially from this forward-looking information. Important factors that could cause actual results to differ materially from expectations include failure to receive the required Court and regulatory approvals to effect the Arrangement; the potential of a third party making a superior proposal to the Arrangement; and other risks and uncertainties pertaining to ERES as more fully described in regulatory filings that can be obtained on SEDAR+ at Except as specifically required by applicable Canadian securities law, ERES does not undertake any obligation to update or revise publicly any forward-looking information, whether as a result of new information, future events or otherwise, after the date on which the information is provided or to reflect the occurrence of unanticipated events. This forward-looking information should not be relied upon as representing ERES’s views as of any date subsequent to the date of this press release.

For more information, please contact:

ERES

Ms. Jenny Chou

Chief Financial Officer

(416) 354-0188