Adam Paul
President, CEO & Trustee

Hey everyone. I'm Adam Paul, I serve as President and CEO of First Capital REIT. And it is my pleasure to welcome you to the special meeting of First Capital unitholders. The purpose of today's meeting is for unitholders have the opportunity to vote on a transaction that effectively amounts to the sale of the company at a very compelling valuation.

Chair of the Board, Paul Douglas, will chair a formal meeting, which will include the results of the unitholder vote. But before the formal meeting begins, I wanted to take this opportunity to share a few reflections on how FCR has evolved over the last few years.

So going back to early 2024, we held our Investor Day, during which we introduced a very clear 3-year strategic plan. And that plan is built on the optimization plan that we had first outlined in 2022. At its core, the 3-year plan focused on how best to achieve the following 3 objectives for our investors. Stability and growth on a consistent basis of FFO per unit, growth in net asset value per unit and reliable, consistent monthly cash distributions to our investors and growth in those distributions over time.

We also presented the strategy we developed to achieve both the plan and the strategy. And notably, we received very strong support from our investors for both the plan and the strategy. Since we introduced the plan a little over 2 years ago, operating FFO per unit has grown at