New partnership focused on the acquisition and active management of light industrial assets in Canada's major urban markets Not for distribution to U.S. News Wire Services or dissemination in the United States (Toronto, ON) May 7, 2026 – KingSett Capital (“KingSett”) and University Pension Plan Ontario (“UPP”) today announced a strategic partnership to invest in income-generating industrial real estate assets across Canada’s major urban markets. The partnership will focus on acquiring multi-tenant, light industrial buildings in supply-constrained markets, taking a selective approach to assets where active management can enhance long-term value creation. Canada’s industrial sector continues to benefit from structural tailwinds, including evolving supply chains, population growth, and limited availability. These factors support resilient demand and rental growth across key markets. Industrial assets also play a critical role in enabling efficient distribution and logistics networks across Canada. This partnership is the first of its kind for KingSett and builds on UPP’s targeted exposure to industrial real estate, further diversifying its portfolio while increasing allocation to income-generating assets. As UPP continues to evolve its real estate portfolio, it remains focused on investments that enhance diversification, manage risk, and deliver durable returns to support the delivery of pensions over the long term. “We are thrilled to partner with KingSett to establish a dedicated Canadian industrial strategy aligned with our goal of building a resilient real estate portfolio focused on value creation over the long term,” said Peter Martin Larsen, Senior Managing Director, Head of Private Markets at UPP. “This investment is designed to provide exposure to industrial assets, such as warehousing and light manufacturing facilities in close proximity to urban centres, underpinned by strong domestic demand and attractive inflation protection. Through this partnership, we are selectively deepening our position in a sector supported by strong fundamentals, enhancing our ability to deliver secure, stable pensions for our members. KingSett brings deep expertise across market cycles, a long-standing presence in Canada’s major industrial hubs, and a proven track record of creating value through active asset management.” Over the past 24 years, KingSett’s total transaction volume involving industrial assets exceeds $13 billion. By acquiring and owning individual properties over this period, KingSett has gained direct and specific insight into asset performance and evolving trends in industrial real estate. “We are delighted to begin a long-term strategic partnership with UPP and grateful for their support,” said Rob Kumer, CEO of KingSett Capital. “The Canadian industrial sector is at an inflection point: Investors, developers and tenants are adjusting to an evolving trade relationship with the US, new supply chains, and the need to improve efficiencies to remain competitive in this environment. KingSett is well positioned to leverage our relationships, scale and platform to navigate this environment and build a portfolio of industrial properties designed to deliver sustainable premium risk-weighted returns for UPP.” “This partnership, which complements the balance of our existing fund strategies, marks an important milestone for KingSett. We are introducing a highly customized investment solution that is designed to meet the specific needs and objectives of an institutional investor like UPP. We are aiming to expand on this type of program as an important differentiator for our investor-partners and as a driver of growth for KingSett in the years to come,” added Mr. Kumer. About UPP University Pension Plan Ontario (“UPP”) is a jointly sponsored defined benefit pension open to all Ontario university sector employers and employees. UPP manages $12.8 billion in pension assets as of December 31, 2024 and proudly serves over 46,000 members across six universities and 19 sector organizations. The plan invests to deliver secure, stable pension benefits for members today and for generations to come. For more information, please visit myupp.ca and follow UPP on LinkedIn. About KingSett Capital KingSett Capital (“KingSett”) is Canada’s leading private equity real estate investment firm with over $19 billion of assets under management. Founded in 2002, KingSett creates value through a broad portfolio of custom real estate investments, financing solutions and asset classes backed by strong core values, an entrepreneurial approach and a Canada-first platform. Today, the firm has over 170 employees in Toronto, Montreal and Vancouver. ## For more information, please contact: UPP media@universitypensionplan.ca KingSett Capital David Ryan FGS Longview David.Ryan@fgslongview.com

Jon Love and Rob Kumer share observations on today's land market The precise timing of land value recovery is always difficult to predict. Land liquidity will rebound in value when developers are confident that they can launch and sell a project. Rob Kumer, Chief Executive Officer Land liquidity follows development feasibility, not investor sentiment. Land does not reprice in isolation; it must reflect the economic feasibility of a project. In today’s environment, economic feasibility is constrained by regulatory timelines and elevated costs - particularly from fees, taxes and limited absorption. As a result, developers have retreated from the market, limited new land acquisition, and are preserving their existing inventory. The housing market must absorb supply before land liquidity resurfaces. Excess supply delivered between 2025 and 2027 will need to work its way through the system prior to a rebound in land liquidity. Until the inventory is absorbed, land liquidity will remain muted, along with limited new project launches. Today's inactivity is seeding tomorrow's recovery. With no new projects launching, the forward supply pipeline is materially constrained. This results in very limited new supply for 2028/2029 – creating the conditions for a tightening market, a price rebound and land liquidity. The trigger condition is clear: developers won’t buy land until they’re confident that they can sell. I've been around this for a long time and cycles are always the same; a down cycle is followed by stabilization, growth and recovery. Jon Love, Executive Chair & Founder Timing is uncertain. Direction and recovery are not. While it’s difficult to pinpoint whether recovery begins in 2026, 2027, or 2028 – the broader pattern is consistent across cycles: periods of contraction move through stabilization and then to recovery. Historically, once conditions turn, recovery in land markets is rapid and decisive.

Jon Love joins the Tales from Movers & Influencers podcast for a candid conversation about the lessons that have shaped his career In this episode of TMI | Tales From Movers & Influencers, host Leanne Dufault sits down with Jon Love, KingSett Capital Executive Chair and Founder, for a candid conversation about the lessons that shaped one of Canada’s most iconic real estate careers, and the principles that still guide how he leads today. Jon walks through his early start as a retail stockbroker (his real-world “MBA”), his rapid rise at Oxford Properties through multiple market cycles, and the mindset required to navigate uncertainty without losing optimism. He shares the “go dark” reset that helped spark KingSett, how values and culture become the real competitive advantage, and why the most underrated career skill is learning how to be curious and relevant in every room you enter. Jon and Leanne also talk succession planning, leadership vs. management, the power of showing up in person, and why business leaders should speak up more, especially when it comes to Canada’s economic future. Topics include: Jon's path from stockbroker, to Oxford, to building KingSett The three "assets" that helped him lead through the early 90's downturn Why culture is values in action: integrity, transparency, respect Curiosity + relevance: the simplest framework for building relationships (and careers!) Why "ideas before you enter the room" changes everything Succession planning: empowering successors, sharing economics, migrating relationships Leadership vs. management (and the role patience plays) Why LinkedIn matters, and why business leaders should share their views Visit TMI | Tales From Movers & Influencers on Youtube or listen to full episodes on Spotify. Content Credit: Spacebound Productions

TORONTO, April 21, 2022 (GLOBE NEWSWIRE) -- The Multiple Sclerosis Society of Canada is pleased to introduce the MS Million Dollar Tower Challenge, a breathtaking new event with the goal of raising $4 million for critical multiple sclerosis (“MS”) research initiatives in Canada. The Tower Challenge, sponsored by KingSett Capital to celebrate the firm’s 20th anniversary, will see fundraisers rappel from the rooftop of 700 University Avenue in downtown Toronto on May 9, 10 and 11, 2022. To donate to the MS Million Dollar Tower Challenge and support the participants as they take the leap for MS on May 9 to 11, please visit: www.mstowerchallenge.ca. Funds raised by the Tower Challenge, which have already surpassed $3 million to date, will contribute to the MS Acts of Greatness campaign, a bold vision to raise $75 million, accelerate the pace of MS breakthroughs in Canada and empower people living with MS to live their best lives. The event will see over 140 participants across approximately 30 teams take the leap for MS. The fundraising teams include KingSett Capital employees, KingSett Advisory Board members, and the firm’s business partners, as well as members of the Canadian MS community. “I am thrilled by the tremendous support the MS Million Dollar Tower Challenge has received from our friends, colleagues, business partners, and members of the MS community,” said Jon Love, CEO of KingSett Capital. “Like many others across Canada, this is a personal cause for my family. Our son Jason was diagnosed with MS 11 years ago. While he is doing well, the experience focused our family’s attention on fighting this disease, which impacts more Canadians per capital than anywhere else in the world. I will proudly be one of the first off the side of 700 University in May.” “The MS Society is honoured to collaborate with Jon, his wife Nancy, and the team at KingSett to create this inspiring event as part of our Acts of Greatness Campaign,” said David White, Vice President of Philanthropy, MS Society of Canada. “Thanks to the generous support of KingSett, all proceeds from the MS Million Dollar Tower Challenge will go directly to accelerating research and enhancing the quality of life of those affected by MS. Based on the incredible support we’ve received so far, I am confident it will move us closer to finding a cure for this complex and unpredictable disease.” Founded in 2002, KingSett Capital has grown to be Canada’s leading real estate private equity investment business with assets approaching $20 billion. The KingSett platform includes the ownership of 700 University. In 2023, 700 University will undergo a substantial repositioning, including a revamped retail base, the addition of four floors of new Life Science office space added to the top of the office tower, and the addition of a 56-storey purpose built rental residential tower. About KingSett Capital KingSett Capital is Canada's leading private equity real estate investment firm. Founded in 2002, KingSett has raised $13.4 billion of equity for its Growth, Income, Urban, Mortgage and Affordable Housing strategies, executing over $50 billion in transactions life to date. Currently, KingSett has $17 billion of assets under management in a $19 billion portfolio. KingSett continues to seek further opportunities to invest in a wide range of real estate properties, developments, joint ventures and mortgage lending. About multiple sclerosis and the MS Society of Canada Canada has one of the highest rates of multiple sclerosis (“MS”) in the world. On average, 12 Canadians are diagnosed every day. MS is a chronic autoimmune disease of the central nervous system (brain, spinal cord). It is considered an episodic disability meaning that the severity and duration of illness and disability can vary and are often followed by periods of wellness. It can also be progressive. Most people are diagnosed with MS between the ages of 20 and 49 and the unpredictable effects of the disease will last for the rest of their lives. The MS Society provides information, support and advocacy to people affected by MS, and funds research to find the cause and cure for the disease, bringing us closer to a world free of MS. Please visit mssociety.ca or call 1-800-268-7582 for more information, to get involved, or to support Canadians affected by MS by making a donation.

Investment poised to transform Toronto’s landmark hotel into a sustainability leader within the hospitality industry (Toronto, ON) October 7, 2022 – The Canada Infrastructure Bank (“CIB”), Fairmont Royal York and KingSett Capital today announced an agreement which will see the CIB finance $38 million toward significant energy retrofits at the landmark hotel. The CIB’s financing will help Fairmont Royal York become a leader in sustainable accommodations. The hotel, which first opened in 1929, will target a zero-carbon balance and pursue the Canada Green Building Council’s Zero Carbon Building Standard Certification in 2023. The investment will result in a significant reduction in carbon emissions, with the aim of reducing the iconic hotel’s emissions by over 80 percent. “The CIB’s investment solution will help decarbonize a historic Canadian landmark, paving the way forward for future green retrofits within the hospitality sector,” said Ehren Cory, CEO, Canada Infrastructure Bank. “Our partnership with KingSett Capital enables a greener tourism economy and we stand ready to develop more innovative investments, accelerate projects and help meet climate change targets.” To date, the CIB has committed more than $800 million toward building energy retrofits. The financing will help cover upfront capital costs of the retrofits to enable the decarbonization of the hotel. “We are proud to be partnering with the CIB to fund the decarbonization of the iconic Fairmont Royal York,” said Jon Love, CEO, KingSett Capital. “This initiative, made possible by the CIB, adds strength and resilience to one of our core assets and advances KingSett’s sustainability strategy. We are focused on setting meaningful reduction targets, executing decarbonization programs for our core assets and, most importantly, doing what is right for our stakeholders and the environment.” Fairmont Royal York, part of world-leading hospitality group Accor, is committed to taking a leading role in the travel industry’s sustainable development. This large-scale initiative marks a new era in the hotel’s legacy as one of Toronto’s most renowned destinations with more than 1.5 million annual visitors. “Fairmont has a longstanding history of environmental stewardship, and this important effort is a transformative step in the hotel’s journey toward minimizing climate change and reinforcing our pledge to our planet. We are fortunate to have steadfast partners that share our commitment to environmental sustainability, as well as our enthusiasm for ushering in the next chapter in hospitality,” said Edwin Frizzell, Regional Vice President, Accor Central Canada and General Manager, Fairmont Royal York. “With the travel industry’s vibrant recovery came an increased expectation around sustainability, and it is our responsibility to continue to embrace impactful sustainability practices that reduce our environmental footprint and contribute to a better future for all.” The financing is expected to close in late 2022. Quick Facts: According to the Hotel Association of Canada, prior to the COVID-19 pandemic, the accommodations industry generated nearly $22 billion in revenue annually and employed over 300,000 people. Fairmont Royal York is one of two hotel properties owned by KingSett Capital-managed funds. The CIB seeks to invest up to $5 billion in green infrastructure which supports climate change action and sustainable economic growth. The CIB’s investments are subject to approval by its Board of Directors. About KingSett Capital KingSett Capital is Canada’s leading private equity real estate investment firm. Founded in 2002, KingSett has raised $15.4 billion of equity for its Growth, Income, Urban, Mortgage, Residential Development and Affordable Housing strategies, executing over $50 billion in transactions life to date. Currently, KingSett has $17 billion of assets under management in a $20 billion portfolio. KingSett continues to seek to further invest in decarbonization strategies for all of its properties, looking to enhance resilience and sustainability. About Fairmont Royal York Timeless and iconic for over 90 years, Fairmont Royal York celebrates a new era as Toronto’s landmark hotel with the revitalized Fairmont Gold, renovated lobby and new dining venues. With contemporary railway-inspired design, CLOCKWORK Champagne & Cocktails hosts a bubbly cocktail offering with tasteful metropolitan fare. Steps from the lobby, REIGN features three dining experiences: REIGN Restaurant serves sophisticated cuisine from the bounty of Canada’s rich landscape; REIGN Bar toasts to Toronto’s Jazz-Age revival with a prestigious wine list, signature tasting boards, and live entertainment; while REIGN Bakery creates a charming morning ritual with artisanal-roasted coffee and freshly baked goods. Renowned as the city’s cocktail den, the legendary LIBRARY Bar returns with the Birdbath Martini crafted as a masterpiece. For upscale luxury, Fairmont Gold is a hotel-within-a-hotel featuring elegantly appointed suites, premium services, and an exclusive lounge on the 18th floor. The place of occasion, Fairmont Royal York is the city’s destination for glamorous wedding celebrations and inspiring events – embracing a legacy that is famous for generations. Media Contact KingSett Capital David Ryan Managing Director, Edelman Smithfield T: 416 455 1927 E: david.ryan@edelmansmithfield.com

Ranked first in North America and first globally KingSett Capital is pleased to announce that it has achieved global leader recognition in the 2022 Global Real Estate Sustainability Benchmark (“GRESB”) Assessment for the second year in a row. In the GRESB report released October 18, 2022, KingSett ranked first in North America and first globally, advancing the firm’s sustainability leadership status in real estate. “KingSett has been a proud participant in the GRESB Survey since 2015, and we continue to lead the commercial real estate market and out-perform our previous achievements,” said Jon Love, CEO of KingSett Capital. “We are grateful to our people, partners and customers who helped make this achievement possible. We are committed to our sustainability strategy and continue to expand our efforts and ambitions, seeking to make an impact and build long-term value for all our stakeholders and communities.” In the 2022 GRESB report, KingSett achieved a Five Star Rating for the fifth year in a row; KingSett ranked first in its peer group for the third year in a row; and it ranked first globally within its peer group of non-listed core funds for the second year in a row. KingSett also ranked first in Canada and first across the Americas in the Developments Benchmark, leading all companies who participated in the benchmark in these regions. 1st Globally: Diversified Office / Residential / Non-Listed / Core 1st in its Regional Sector: Diversified Office / Residential / Americas 1st in its Peer Group: Office / Residential / Core A copy of the 2022 GRESB report is available at www.gresb.com. About GRESB Global Real Estate Sustainability Benchmark Report (“GRESB”) is the global industry standard for ESG benchmarking. It assesses and compares the management attributes and performance across real estate companies (public, private and direct) globally. GRESB collects information on material ESG issues aligned with what investors and the industry care about. In 2022, GRESB represented over 1,820 funds/firms reporting on US $8.6 trillion AUM.

Certification marks major milestone in KingSett’s Decarbonization Strategy (Toronto, ON) February 27, 2023 – KingSett Capital’s Scotia Plaza building at 100 Yonge Street in downtown Toronto has achieved the prestigious Zero Carbon Building – Performance Standard certification. This marks a major milestone in KingSett Capital’s Three-Phase Decarbonization Strategy as the firm works towards a decarbonization goal of 35% of carbon emissions across its CREIF portfolio by 2027. 100 Yonge is a Class “A” office building with 275k square feet of space and is the second building in our portfolio after 40 King Street West to receive this certification. KingSett’s Decarbonization Strategy has included replacing end-of-life boilers and chillers, upgrading air handlers with heat recovery, and installing air source heat pumps to replace the existing heating plant. Thanks to these efforts, 549 tonnes of carbon emissions will be eliminated annually – a 76% reduction – equivalent to removing 118 passenger vehicles from the road. These results exceed the Carbon Risk Real Estate Monitor (“CRREM”) guidelines for Canadian office building emissions by 2050, which are aligned with the Paris Climate Agreement and Science Based Targets Initiative (“SBTi”). About KingSett Capital KingSett Capital is a pioneer in the Canadian private equity real estate industry, co-investing with institutional and ultra-high net worth clients to deliver sustainable, premium risk-weighted returns. With over $17 billion in assets under management and a $19 billion portfolio, KingSett has a proven track record of success, having raised $15.4 billion in equity for its Growth, Income, Urban, Mortgage, Residential Development and Affordable Housing strategies since its founding in 2002.

First Canadian Landlord to Commit to WiredScore Portfolio WiredScore, the company setting the global standard for technology in the built world, has today announced 39 global landlords and KingSett Capital is proud to be listed. Technology is a core part of KingSett’s strategy, and we are committed to delivering a best-in-class, technology-enabled experience across our buildings, today and in the future. The future is smart, and smart buildings help us deliver superior technology integration while achieving operational efficiency. As the first Canadian landlord to commit to WiredScore Portfolio, KingSett has certified over 6 million square feet of office space in Canada, with an additional 5 buildings committed to certification and all future developments are committed to targeting the same certification. We believe this certification provides a number of tangible benefits as we look to make our portfolio future-ready with technological infrastructure that will create dynamic and resilient spaces. In addition, this certification provides us with the dedicated tools to measure, improve and promote connectivity performance in a clear, efficient and impactful manner. Arie Barendrecht, Founder and CEO, WiredScore, commented: “If the last few years have taught us anything, it’s that we have all come to expect best-in-class levels of connectivity in our buildings, enabling a seamless transition between the home, office and back again. As a result, we have seen first-hand just how technology is fast becoming a core pillar of how our clients are delivering their portfolios. Yet the macro environment and the pace of change of technology means it’s never been more challenging to create tech-enabled spaces. We are therefore proud to be working with some of the world’s most forward-looking landlords and developers who not only understand the benefits of a technology-first approach in their real estate, but are constantly improving it to create a first-class experience for their building users. By implementing sound digital infrastructure as a minimum requirement across their portfolios, our clients are not only creating dynamic and resilient spaces people really want to be in, but they are sustainably future-proofing their buildings for generations to come.” About WiredScore Portfolio The Portfolio award is given to landlords and developers who have committed to delivering a best-in-class, technology-enabled experience across a significant portion of their portfolio, now and in the future. WiredScore Portfolio brings with it a number of tangible benefits for landlords looking to make their portfolio future-ready with technological infrastructure that will meet evolving needs of occupiers. In addition, it provides clients with dedicated tools to measure, improve and promote the connectivity performance in a clear, efficient and impactful manner.

Recognition of market-leading technology, processes, and automation to deliver world-class service Scotia Plaza’s 40 King Street West has achieved SmartScore Gold Certification, making it one of the smartest places to work in the world. This certification demonstrates the building’s cutting-edge innovation through the use of market-leading technology, processes, and automation to deliver world-class service to all users of the building. 40 King Street West is located in the financial district of Toronto, Canada. The building achieved this certification through a range of initiatives which include the implementation of a smart building strategy, the deployment of a tenant engagement app, and the establishment of a stringent cybersecurity policy. Moreover, the installation of a smart technology foundation (base building network) has also allowed for rapid deployment of new connected devices and systems. The achievement of SmartScore Gold Certification at Scotia Plaza’s 40 King Street West reflects KingSett’s commitment to innovation and sustainability in its portfolio. It showcases the potential of smart buildings to create highly sustainable, inspirational, cost-efficient, and future-proof spaces for the benefit of all building users. About SmartScore SmartScore is a globally recognized smart building certification developed by WiredScore. It is the global standard for smart buildings and helps landlords and developers build cutting-edge smart buildings that deliver exceptional user experiences, drive cost efficiency, meet high standards of sustainability, and are fully future-ready. The SmartScore certification has four levels, and buildings that meet the strict criteria for reliable, secure, and future-ready in-building technology are awarded one of these levels to reflect their excellence.

Assessment ranks KingSett a Canadian sector leader for CREIF KingSett is pleased to share its Global Real Estate Sustainability Benchmark 2023 results for our $5B core income fund: 2nd in the North America Diversified Office/Residential/Non-listed sector for our Standing Investments 1st and Global Sector Leader in the Residential/Non-listed/Core sector for the Development Benchmark We remain on track to reducing carbon emissions by 35% of 2019 baseline emissions across this portfolio by 2027, with two office properties receiving Canada Green Building Council Zero Carbon Performance Standard Certification this year, taking our net zero carbon footprint to over 2.1M square feet. About GRESB Global Real Estate Sustainability Benchmark Report (“GRESB”) is the global industry standard for ESG benchmarking. It assesses and compares the management attributes and performance across real estate companies (public, private and direct) globally. GRESB collects information on material ESG issues aligned with what investors and the industry care about. In 2023, over 2,000 property companies, REITs, funds, and developers with USD 7.2 trillion in assets participated, covering 170,000+ assets across 75 countries.

The transformative project provides a roadmap for completing innovative, complex and financially viable hotel deep carbon retrofits (Toronto, ON) November 15, 2023 – KingSett Capital and Fairmont Royal York announced today that the landmark hotel in Toronto, ON has received the Canada Green Building Council’s (“CAGBC”) Zero Carbon Building – Performance Standard certification. This $65 million project was completed after close to five years of detailed planning and execution. It will reduce over 7,000 tonnes of carbon annually or 80% of the hotel’s annual carbon emissions, the equivalent of taking 1,558 cars off the road. Jon Love, Founder and CEO of KingSett Capital, said, “Fairmont Royal York’s decarbonization demonstrates the potential to complete a large and complex project in a way that is environmentally impactful, socially responsible and economically viable. It is a compelling example of what can be accomplished through collaboration, innovation and creativity. For KingSett, this investment highlights how decarbonization can strengthen a key asset in our portfolio as part of our sustainability and value enhancement strategy.” “This complex project would not have been possible without our strong partnership with Fairmont Hotels & Resorts, the Canada Infrastructure Bank (“CIB”), PCL Construction, and Enwave Energy Corporation,” added Mr. Love. Edwin Frizzell, Regional Vice President, Central Canada and General Manager, Fairmont Royal York, said, “Fairmont Royal York achieving zero carbon certification is another transformative step in repositioning this unique icon in Toronto’s downtown core. Decarbonizing a 94-year-old heritage building and retrofitting the hotel’s energy systems to be highly energy efficient was a complex challenge. We’ve proven that it can be done.” “Our valued clients and partners with similar corporate sustainability objectives will benefit from access to hotel rooms and meeting and event spaces aligned with our focus on creating genuine experiences and implementing long-term sustainability actions that deliver results,” added Mr. Frizzell. This decarbonization project represents the largest heritage hotel retrofit of its kind within the Fairmont global brand portfolio and offers a definitive roadmap for creating sustainable energy sources for similar properties. With its unparalleled location in Toronto’s financial district and close proximity to Union Station, the hotel’s decarbonization initiatives make it the ideal partner for both leisure travelers and major businesses to align their sustainability goals when booking conferences, events, and guest room accommodations. As a destination committed to the local community, Fairmont Royal York employs over 1,200 colleagues and hosts 1.5 million guests annually, while championing the global brand’s sustainability efforts for diversity, equity and inclusion. In addition to achieving the CAGBC Zero Carbon Building – Performance Standard certification, the hotel has a broad range of other sustainability initiatives. These include eliminating single-use plastics for guests, reducing food waste with AI technology and donation partners, and supporting the local ecosystem with 500,000 honeybees from the hotel’s rooftop garden and apiary. These initiatives complement recent renovations to Fairmont Royal York’s lobby, guestrooms, Fairmont Gold offering, award-winning dining venues and event spaces and enhance this destination’s global consumer appeal as a world-class luxury hotel in Canada’s financial centre. Fairmont Royal York achieving the annual CAGBC Zero Carbon Building – Performance Standard certification demonstrates how partnership between the private and public sectors can meaningfully accelerate action towards meeting Canada’s carbon reduction commitments. The project was supported by the CIB’s Building Retrofits Initiative, which provided $46.5 million in debt financing. The Zero Carbon project advances KingSett’s sustainability strategy and leadership in the Canadian real estate market while adding strength and resilience to one of KingSett’s key assets. It adds to KingSett’s broader decarbonization strategy of decarbonizing over 5.4 million square feet of Canadian real estate, reducing 35% of carbon emissions over 2019 baseline by 2027 in its core fund. Additional Details The Fairmont Royal York decarbonization project will remove over 165,000 tonnes of carbon emissions from execution in 2023 to 2050. The reduction of carbon emissions will generate over 35% of utility savings in the first year. All spending and project impacts were independently verified through the CAGBC’s Investor Ready Energy Efficiency (“IREE”) certification program. All carbon emission reductions will be independently monitored and verified annually by a third party as required by CIB and CAGBC. The building’s path to the CAGBC’s Zero Carbon Building – Performance Standard certification was achieved by: Detailed study and analysis of building energy load, seeking to effect meaningful efficiencies, Converting heating and domestic hot water from steam to electric heat pumps that utilize heat recovery from Enwave’s district energy network, Converting cooling from electrical/chillers to Enwave’s Deep Lake Water Cooling system, and Significantly improving energy efficiency with a centralized building automation system and smart technologies. The project has employed over 70,000 hours of labour, creating valuable job opportunities for skilled workers and showing how environmental responsibility and economic benefits can work hand in hand. About KingSett Capital Founded in 2002, KingSett Capital is a leading Canadian private equity real estate firm that co-invests with institutional and ultra-high net worth clients to deliver sustainable, premium risk-weighted returns. KingSett manages $18 billion in assets across its Growth, Income, Urban, Mortgage, Residential Development and Affordable Housing strategies. About Fairmont Royal York Timeless and iconic for 94 years, Fairmont Royal York celebrates a new era as Toronto’s landmark hotel. The stunning modern Art-Deco renovations to the grand lobby and new dining venues create an impressive welcome for guests. With contemporary railway-inspired design, CLOCKWORK Champagne & Cocktails hosts a bubbly cocktail offering with tasteful metropolitan fare. REIGN features three elevated dining experiences, as REIGN Restaurant showcases the bounty of Canada’s rich landscape, and REIGN Bar toasts to Toronto’s Jazz-Age revival with a prestigious wine list and live entertainment, while REIGN Bakery creates a charming morning ritual with artisanal-roasted coffee and freshly baked goods. Renowned as the city’s cocktail den, the legendary Library Bar serves the Birdbath Martini crafted as a masterpiece. A refined oasis, Fairmont Gold is a boutique getaway featuring elegantly appointed suites, premium services, and an exclusive 18th floor lounge. Fairmont Royal York is the city’s destination for glamorous wedding celebrations and inspiring events – embracing a legacy that is famous for generations. Media Contacts KingSett Capital David Ryan Managing Director, Edelman Smithfield T: 416 455 1927 E: david.ryan@edelmansmithfield.com Fairmont Royal York Jennifer Séguin Director of Marketing & Public Relations T: 416 458 0412 E: jennifer.seguin@fairmont.com

KingSett Founder Jon Love Transitions to Executive Chair "This transition formalizes the expanded leadership role Rob has played so well over the last several years and marks the culmination of a well-planned, multi-year leadership succession at the firm.” Jon Love, Executive Chair & Founder (Toronto, ON) November 27, 2023 – KingSett Capital Inc. announced today that Jon Love will become Executive Chair of the firm and Rob Kumer will be elevated to Chief Executive Officer, effective January 1st, 2024. As Executive Chair and KingSett’s majority owner, Mr. Love will maintain oversight and responsibility for KingSett, guide the firm’s strategy, and serve on the KingSett fund boards. As CEO, Mr. Kumer will be responsible for executive management, working with Mr. Love to establish KingSett’s strategy and drive results for the firm’s funds. Mr. Kumer will continue to serve as Chair of KingSett’s Management and Investment Committees. “This transition formalizes the expanded leadership role Rob has played so well over the last several years and marks the culmination of a well-planned, multi-year leadership succession at the firm,” said Mr. Love. “KingSett has assembled a management committee and team of professionals that bring extraordinary depth of experience and cross-platform expertise. They are ready to lead KingSett forward into the next decade, focusing on our core mandate – delivering sustainable premium risk weighted returns for our investors.” “I am grateful for the opportunity to serve as KingSett’s CEO and help lead the firm into the next phase of its growth and investor performance,” said Mr. Kumer. “I will be focused on maintaining KingSett’s strong culture and values, which have been fundamental to our success. I want to thank Jon for the trust he has shown in me, and I want to thank our investors and board members, and our valued partners for the confidence they continue to show in KingSett.” As part of this transition, Colin Baryliuk will join the firm’s Management Committee and assume the role of Chief Investment Officer previously held by Mr. Kumer. Mr. Baryliuk joined KingSett in 2008 and has held increasingly senior roles over time, including most recently Group Head, Property Investments. Mr. Baryliuk will be responsible for day-to-day management of the Investments team including allocation of team resources and oversight of investment underwriting, transaction negotiation and due diligence. Additionally, Scott Coates, who joined KingSett in 2006, will be elevated to President, KingSett Mortgage Corp., an evolution in title that reflects his central role and his success in building and leading the firm’s national commercial and residential mortgage lending business, a key component of the KingSett Capital platform. The changes to Mr. Baryliuk and Mr. Coates’ roles also take effect January 1, 2024. Mr. Kumer joined KingSett in 2004 as an analyst. He has assumed increasingly senior roles over the years including Chief Investment officer and Chair of KingSett’s Investment Committee in 2018. He was appointed President and Chair of the firm’s Management Committee in 2021. As the firm’s President and CIO, he has had responsibility for guiding and executing KingSett’s investment strategy and leading the Investments team which sources, underwrites and structures investment transactions for KingSett’s various Fund strategies. In addition, Mr. Kumer provides oversight of KingSett’s mortgage lending business and serves as Fund Manager for KingSett’s Growth Funds and Urban Fund. Mr. Kumer holds a degree in Honours Business Administration from the Ivey Business School at Western University, where he is now a member of the school’s Advisory Board.  Mr. Kumer also serves as Vice-Chair of the Board of the Sinai Health System Foundation. About KingSett Capital Founded in 2002, KingSett Capital is a leading Canadian private equity real estate firm that co-invests with institutional and ultra-high net worth clients to deliver sustainable, premium risk-weighted returns. KingSett manages over $18 billion in assets across its Growth, Income, Urban, Mortgage, Residential Development and Affordable Housing strategies. Media Contact David Ryan Managing Director, Edelman Smithfield T: 416 455 1927 E: david.ryan@edelmansmithfield.com