Dream Impact Trust Reports Fourth Quarter 2025 Results

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Dream Impact Trust Reports Fourth Quarter 2025 Results

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Specified Financial Measures and Other Measures

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The consolidated financial statements of the Trust are prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”). In this press release, as part of the results provided in accordance with IFRS Accounting standards, the Trust discloses and discusses certain financial measures, including net income, net debt, net income (loss) per unit, Same Property NOI – multi-family rental, NOI – multi-family rental, NOI – recurring income, total debt and per unit, as other measures are discussed elsewhere in this release. These financial measures are not defined by the measures recognized or recognized under IFRS Accounting Standards, they do not have a limited meaning and cannot be compared with similar measures presented by other issuers. The Trust has presented financial measures that management believes are fair measures of our underlying performance. The stated financial measures should not be considered as alternatives to unitholders’ equity, net income, net income or cash flow generated from operating activities, or comparable metrics determined in accordance with IFRS Accounting Standards as indicators of the Trust’s performance, liquidity, cash flow and profitability. Additional disclosures such as formation, assistance and changes as applicable are expressly incorporated by reference from the MD&A of the Trust for the three and twelve months ended December 31, 2025, dated February 17, 2026 in the section entitled “Specified Financial Measures and Other Disclosures”, the subsection “APtos-Debt-GA value”, the subsection “Supplementary Financial Measures and Other Measures”, headings “Net income (loss) per unit”, “NOI – commercial properties”, “NOI – multi-family rental”, “NOI – recurring income”, “unit owners’ equity per unit” and “Same Property NOI – Financial heading, Noi-AP, multi-family AP” and sub-family AP “Total debt payable”, filed and available on SEDAR+ under of the Trust profile.

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“Total debt payable”

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is defined by the Trust as the outstanding amount due on maturity of its debt instruments. Total debt payable

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is a non-GAAP measure and is included as part of the definition of debt-to-asset ratio, a non-GAAP measure. Total debt service is a key metric used by the Trust in assessing the value of debt; however, it is not defined by IFRS Accounting Standards, does not have a fixed definition and may not be comparable to similar measures presented by other issuers. Total debt payable is combined with total debt, the most comparable financial measure, below.

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Like this	December 31, 2025		December 31, 2024
Total credit	$	283,983	$	272,664
Cashless discount on host instrument for convertible debentures		(365)		554
The conversion factor		(2,154)		–
The uncharged balance of deferred finance charges		968		1,629
Total debt payable	$	282,432	$	274,847

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Forward-Looking Information

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This press release may contain forward-looking information within the meaning of applicable securities law. Forward-looking information can generally be identified by the use of forward-looking words such as “idea”, “objective”, “may”, “would”, “will”, “may”, “expect”, “intend”, “estimate”, “anticipate”, “timeline”, “potential”, “belitaurgetsldgy”, “belitaurgetsgy” “plans”, or “continue”, or similar expressions that suggest future results or events.

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Certain forward-looking information in this press release may include, among other things, statements regarding the Trust’s objectives and strategies for achieving those objectives; the Trust’s lease activities and the expected timing and results thereof; expectations regarding the Trust’s multifamily portfolio including phase growth, continued average growth, and the number of available residential and rental units and timelines; expectations regarding the imminent creation of the Trust begin; expectations regarding 49 Ontario St. and Quayside, including development plans, timelines, units delivered on completion including number of affordable units, financing and construction commencement; the Trust’s ability to secure HST waivers, development cost relief and construction cost savings at Quayside; the Trust’s ability to carry forward its five-year business plan and the timing of its review; the Trust’s ability to generate capital and growth in the current market and our expectations regarding the Trust’s ability to meet its future investment objectives; the Trust’s expectations regarding its purpose-built rental properties including stabilization periods; the Trust’s progress in strengthening its lending and strategic plans; the impact of 49 Ontario and Quayside on the recurring income of the Trust upon liquidation; the Trust’s ability to secure construction funding and partnership opportunities for certain developments, including long-term joint government funding for Quayside; expectations regarding the development, completion and leasing of the Birch House at Canary Landing, Maple House at Canary Landing, Cherry House at Canary Landing, Odenak, Voda and Aalto II properties, including number of units and timing; the Trust’s development of selected assets in the pre-development phase; the Trust’s expectations regarding future debt maturities and the expected repayment, extension and/or renewal of debt and its timing; the status of the Trust’s active development projects and the proposed dates of commencement and completion of construction; the Trust’s expectations regarding the effects of proceeding with the construction of other developments and the related effects on credit exposure and project risk; the Trust’s ability to fully reduce exposure to real estate loans; and the Trust’s plans and proposals for current and future development and project development, including construction initiation, completion and occupancy/stabilization dates/time and number of units. Forward-looking information is based on numerous assumptions and is subject to a number of risks and uncertainties, many of which are beyond the control of the Trust, which could cause actual results to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: adverse changes in general economic and market conditions; liquidity risk; financing and risk related to financing; interest rate risk; public health risks; risks related to unexpected or ongoing national events, including inter-state conflicts, terrorism or other acts of violence, and international sanctions; inflation; risks related to imposition of duties, tariffs and other trade restrictions and their impact; disruption of the free movement of goods and services in all areas; the risk of adverse global markets, economic and political conditions and health problems; risks in the real estate industry; risks associated with investment in development projects; investment strategy risk; risks related to concentration; risks inherent in real estate investments, debt and other liabilities and development and investment holdings; credit risk and counterparty risk; competitive risk; environmental risks and climate change; risks related to financing; interest rate risk; the risk of changes in government laws and regulations; tax risk; foreign exchange risk; the risk that corporate activities and reviews will not have the desired effect; acquisition risk; and lease risks. Our objectives and forward-looking statements are based on certain assumptions, including that the general economy remains stable; gradual recovery and overall economic growth by 2026; that no unexpected changes in the law and operating framework of our business will occur; that there will be no material change in environmental laws that may adversely affect our business; that we will meet our future goals, priorities and growth goals; that we obtain the necessary licenses, permits or approvals in connection with our projects; that we will be able to obtain sufficient capital to fund our future projects, programs and any potential acquisitions; that we are able to identify high-quality investment opportunities and find suitable partners with whom to enter into joint ventures or partnerships; that we do not incur environmental debts; there will be no noticeable change in foreign exchange rates; that the impact of current economic and global financial conditions on our operations will remain consistent with our current expectations and that inflation and interest rates will not increase beyond current market expectations; that no obligations, tariffs or other trade restrictions will adversely affect us; Our expectations regarding acquisitions and acquisition competition remain in line with the current climate.

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All forward-looking information in this press release speaks as of February 17, 2026, unless otherwise noted. The Trust undertakes no obligation to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is disclosed in the Trust’s filings with securities regulators on the System for Electronic Document Analysis and Retrieval+ ( www.sedarplus.ca ), including its most recent annual information form and MD&A. This supplement is also available on the Trust’s website at www.dreamimpacttrust.ca.

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View the source version on businesswire.com:

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https://www.businesswire.com/news/home/20260217812607/en/

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