Firm Capital Apartment REIT Reports Q2/2026 Results and Announces Name Change

All figures in $USD unless otherwise noted. TORONTO, Aug. 20, 2026 (GLOBE NEWSWIRE) — Firm Capital Apartment Real Estate Investment Trust (“the “ Trust ”), (TSXV: FCA.U), (TSXV: FCA.UN) is pleased to report its financial results for the three and six months ended June 30, 2026:

Excluding non-cash fair value adjustments, net loss for the three months ended June 30, 2026 was approximately $0.004 million, in comparison to the $0.25 million income reported for the three months ended March 31, 2026, and the $0.27 million income reported for the three months ended June 30, 2025. For the six months ended June 30, 2026 and excluding non-cash fair value adjustments, net income was approximately $0.25 million, in comparison to the $0.43 million income reported for the same period last year; and

AFFO for the three months ended June 30, 2026 was approximately $0.008 million, in comparison to the $0.26 million reported for the three months ended March 31, 2026, and the $0.3 million reported for the three months ended June 30, 2025. For the six months ended June 30, 2026, AFFO was approximately $0.27 million, in comparison to the $0.5 million reported for the same period last year.

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NET ASSET VALUE (“NAV”) $5.31 PER TRUST UNIT (CAD $7.54): The Trust reported NAV of $5.31 per Trust Unit (CAD $7.54).

PROPOSED NAME CHANGE TO BETTER REFLECT BUSINESS MODEL The Trust is working diligently and anticipates disposing of its remaining assets. Following these dispositions, the Trust expects to either: (i) return capital to Unitholders; and/or (ii) explore the sale, re-purposing, or re-utilization of the Trust as an alternative platform, including the implementation of a new business initiative or finance company, whether internally developed or arising from proposals received from third parties.

As an interim step in this process, the Trust intends to change its name to “ Northvest Financial Trust ” which more accurately reflects its current business model and strategic direction. The change is subject to Exchange approval.

Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend” and similar expressions.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse factors affecting the U.S.