BOW WATER & LAND

DURUM INDUSTRIAL REIT

NEWS & PROJECT UPDATES

DISCLAIMER

All resource items contained within should be read in conjunction with the appropriate Offering Memorandum. The items posted constitute “OM marketing materials” as defined in National Instrument 45-106 – Prospectus Exemptions and are deemed to be part of, and are incorporated by reference into, their respective OM.

All business activities in these business updates are set out in the respective OM or are contemplated in the OM. While the information contained herein is positive, the listed events/activities are not considered by the Manager of the Trust to constitute material changes or events. Prospective purchasers of this investment opportunity should review the respective OM and will need to be qualified for investment by their Exempt Market Dealer prior to making any investment. The risks outlined in the OM remain relevant. Capitalized terms have the meaning set out in the OM.