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Q2 2025 Investor Presentation
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mainst.biz Page 1 Cautionary Statement Forward-Looking Information Certain statements contained herein constitute “forward-looking statements” as such term is used in applicable Canadian securities laws. These statements relate to analysis and other information based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. In particular, statements concerning: estimates related to the effect of rising interest rates on the Corporation, the effect that inflation will have on: (i) the Corporation’s tenants and the effect on credit risk; and (ii) the cost of renovations and other expenses, disruptions effecting the global supply chain and energy and agricultural markets (including as a result of geopolitical turmoil), future acquisitions, dispositions and capital expenditures, future vacancy rates, increase of rental rates and rental revenue, future revenue, income and profitability, timing of refinancing of debt, access to low-cost long-term Canada Mortgage and Housing Corporation (“CMHC”) insured mortgage loans, benefits from shorter term mortgages in the short term, the amount of liquidity the Corporation will have access to in the current and subsequent fiscal years, including the amount of funds to be raised through up-financing of maturing mortgages and financing of clear titled assets after stabilization, the potential changes in interest and mortgage rates, completion timing and costs of renovations, benefits of renovations, funds to be expended on renovations in fiscal year 2025 and the sources thereof, increased funds from operations and cash flow, access to capital, minimization of operating costs, the Corporation’s liquidity and financial capacity, the Corporation’s intention and ability to make distributions to shareholders in fiscal 2025, rental conditions and vacancy rates, rates of international immigration and population growth in areas where Mainstreet operates, the period of time required to stabilize a property, future climate change impact, the Corporation’s strategy and goals and the steps it will take to achieve them, changes in zoning laws and potential benefits to Mainstreet as a result of the same, the Corporation’s anticipated funding sources to meet various operating and capital obligations, key accounting estimates and assumptions used by the Corporation, the attraction and hiring of additional personnel, the effect of changes in legislation on the rental market, expected cyclical changes in cash flow, net operating income and operating margins, the effect of environmental regulations on financial results, the effect of income taxes on the Corporation, the handling of any future conflicts of interests of directors or officers, the effects of cyber incidents on the Corporation (including the effect of the cybersecurity incident which occurred on May 2, 2024), the benefits in trading volume from the Corporation’s new dividend policy, and other factors and events described in this document should be viewed as forward-looking statements to the extent that they involve estimates thereof. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions of future events or performance (often, but not always, using such words or phrases as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Forward-looking statements are based on management’s beliefs, estimates and opinions on the date the statements are made, and the Corporation undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions should change except as required by applicable securities laws. Management closely monitors factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements and will update those forward-looking statements where appropriate in its annual and quarterly financial reports. No Solicitation The presentation is not a solicitation to purchase securities of the Corporation and should not be considered an offering or solicitation document to purchase securities of the Corporation.
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mainst.biz Page 2 Why Invest in Mainstreet? The Mainstreet Opportunity Accelerated Organic Growth • Acquisition pipeline & $46M NOI gap Strong Balance Sheet • Strong liquidity $460M • 99% CMHC debt fixed at 3.07% Land Bank & Condo Conversion • Density Potential T oken dividend • Increase shareholder base • Improve liquidity and market value • Based on real free cashflow, insigifiant FFO payout 1% • Continue to grow both dividend and acquisition organically and non-dilutively 25 Y ears of organic double-digit growth with limited equity dilution (Annual growth 2000 – 2024) Great capital allocator to maximize shareholder value with non-dilutive growth 18% 16% 16% FFO/Share ($0.18 - $9.09) IFRS Value ($90M - $3.41B) Revenue ($8M - $250M) 18,683 (Q2 2025) Stock price growth $4.90 - $189.4*/share (*as of 31st March 2025) 2025 : 9,318,818 2000 : 8,883,333 *Exercise of stock options Common Shares Outstanding *Exercise of Stock options Since being listed on TSX
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mainst.biz Page 3 Mainstreet Growth Land Bank & Condo Conversion Density Potential Accelerated Organic Growth Acquisition pipeline & $46M NOI gap Strong Balance Sheet Strong liquidity $460M 100% CMHC debt fixed at 3.07% Turning unused or residual space within existing buildings into new units Exploring zoning and density relaxations to potentially build new capacity within existing land footprints Subdividing residual lands for future developments
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mainst.biz Page 4 Mainstreet Fundamentals A solid performer, continued organic non-dilutive growth since inception • Aligned shareholder interest: director and management ownership around 49% • We acquire under-performing mid-market apartment properties and reposition them in the market with a mission to provide Quality Affordable Homes and improve the quality of life of Canadians • We are an add-value consolidator in the mid-market multi-family apartment market. We stabilize and implement revenue, operating and financing optimization strategies to achieve superior returns Mid-Market Characteristics • Typically less than 100 units • Fragmented private ownership • Under-managed asset • Deferred maintenance • Owners have limited access to capital • Higher vacancy / lower rents • We are constantly growing. YTD we own and manage 18,683* apartment and commercial units and several warehouses in Surrey, Calgary, Edmonton, Saskatoon, Regina and Winnipeg and other commercial space; total fair market value $3.6B • ESG compliant with a focus on continuous improvement • We are a Corporation not a REIT • Listed on the TSX in 2000 Winnipeg 405 Units Abbotsford 1,001 Units Chilliwack 284 Units Penticton 77 Units Vernon 47 Units Prince George 415 Units Kamloops 66 Units Nelson 405 Units Maple Ridge 115 Units Surrey 1,691 Units Countenay 179 Units Victoria 154 Units New Westminster 117 Units Saskatoon 2643 Units Regina 991 Units Lethbridge 255 Units Calgary 3,748 Units Edmonton 6,206 Units Red Deer 182 Units MB British Columbia 4,207 units Alberta 10,210 units Saskatchewan 3,634 units Manitoba 405 units 18,683 - Total Units YTD SKAB BC *Including 50 condo units held for resale, 5 vacant lands and 7 commercial buildings YTD total apartment suites owned 18,683* Including 50 condo units held for resale, 10 vacant lands and 7 commercial buildings
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mainst.biz Page 5 Our Value Chain Business Model How does Mainstreet achieve its solid performance? Acquisitions Identify and buy under-performing rental units at prices well below replacement costs. Capital improvements Increase the asset value of Mainstreet’s portfolio by renovating acquired properties. Operational efficiencies Minimize operating costs through professional management, efficient technology and energy-saving equipment. Value enhancement Reposition renovated properties in the market, as a Mainstreet branded product, for higher rents, and build and maintain customer loyalty through high levels of service. Financing Maintain a sound capital structure with access to capital markets. Divestitures Occasionally sell mature real estate properties to redirect capital into newer, higher potential properties. Q2 2025, 16,259 units are stabilized out of the portfolio of 18,451 units* YTD: 18,683 units* (Including 50 condo units held for resale, 10 vacant lands and 7 commercial buildings) Value Creation Acquisitions Identify and buy under-performing rental units at prices well below replacement costs Capital Improvements Increase the asset value of Mainstreet’s portfolio by renovating acquisition properties Operational Ef/f_iciencies Minimize operating costs through professional management, efficient technology and energy saving equipment Financing Maintaining a sound capital structure with access to capital markets. Divestitures Occasionally sell mature real estate properties to re-direct capital into newer higher potential properties. Value Enhancement Renovate & reposition properties in the market. Improve buildings and a higher level of service equates to higher rents; while building customer loyalty. 12% Un-Stabilized 88% Stabilized
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mainst.biz Page 6 Apartment Business Driver Existing rental apartments trading significantly below replacement cost Management believes: • Current market rents do not justify new construction due to high costs • Increasing demand and limited supply will continue to create favorable rental market conditions Replacement Cost MEQ acquires existing properties to re-utilize and offer mid-market rent to clients Canadians earn less than $50,000pa Cost Per Door Average Rent $125,000 $1,200 Cost Per Door Average Rent $400,000 $3,000
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mainst.biz Page 7 Apartment Demand Winnipeg Population Growth: 30,912 (2024) [40% of total rental universe] Rental Universe: 76,818 (2024) Mid-market: 49,071 (64%) (2024) Vacancy Rate: 1.7% (2024) Saskatoon Population Growth: 14,900 (2024) [79% of total rental universe] Rental Universe: 18,762 (2024) Mid-market: 15,427 (82%) (2024) Vacancy Rate: 2.1% (2024) Regina Population Growth: 10,516 (2024) [67% of total rental universe] Rental Universe: 15,795 (2024) Mid-market: 14,496 (92%) (2024) Vacancy Rate: 2.7% (2024) Calgary Population Growth: 100,179 (2024) [163% of total rental universe] Rental Universe: 61,359 (2024) Mid-market: 34,429 (56%) (2024) Vacancy Rate: 4.6% (2024) Edmonton Population Growth: 72,508 (2024) [75% of total rental universe] Rental Universe: 96,560 (2024) Mid-market: 64,926 (67%) (2024) Vacancy Rate: 3.0% (2024) Lethbridge Population Growth: 5,130 (2024) [116% of total rental universe] Rental Universe: 4,412 (2024) Mid-market: 4,145 (94%) (2024) Vacancy Rate: 0.6% (2024) Red Deer Population Growth: 3,842 Rental Universe: 7,160 (2024) Mid-market: 6,930 (97%) (2024) Vacancy Rate: 1.6% (2024) Surrey Population Growth: N/A Rental Universe: 7,624 (2024) Mid-market: 5,432 (71%) (2024) Vacancy Rate: 1.7% (2024)
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mainst.biz Page 8 Apartment Demand Abbotsford Population Growth: 6,687 (2024) [126% of total rental universe] Rental Universe: 5,289 (2024) Mid-market: 4,814 (91%) (2024) Vacancy Rate: 1.3% (2024) Chilliwack Population Growth: 2,897 (2024) [68% of total rental universe] Rental Universe: 4,265 (2024) Mid-market: 4,265 (100%) (2024) Vacancy Rate: 1.3% (2024) Kamloops Population Growth: 2,687 (2024) [57% of total rental universe] Rental Universe: 4,678 (2024) Mid-market: 4,568 (98%) (2024) Vacancy Rate: 1.4% (2024) Penticton Population Growth: 104 (2024) [4% of total rental universe] Rental Universe: 2,690 (2024) Mid-market: 2,690 (100%) (2024) Vacancy Rate: 1.2% (2024) Vernon Population Growth: 1,068 (2024) [56% of total rental universe] Rental Universe: 1,920 (2024) Mid-market: 1,920 (100%) (2024) Vacancy Rate: 1.1% (2024) Prince George Population Growth: 1,877 (2024) [50% of total rental universe] Rental Universe: 3,759 (2024) Mid-market: 3,411 (91%) (2024) Vacancy Rate: 2.6% (2024) Victoria Population Growth: 7,406 (2024) [22% of total rental universe] Rental Universe: 33,470 (2024) Mid-market: 25,691 (77%) (2024) Vacancy Rate: 2.5% Courtenay Population Growth: 1,372 (2024) [54% of total rental universe] Rental Universe: 2,530 (2024) Mid-market: 2,181 (86%) (2024) Vacancy Rate: 4.3% (2024)
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mainst.biz Page 9 Our Value Chain Business Model Mainstreet’s strategy benefits from a large target market with less competition Winnipeg 405 Units Abbotsford 1,001 Units Chilliwack 284 Units Penticton 77 Units Vernon 47 Units Prince George 415 Units Kamloops 66 Units Nelson 405 Units Maple Ridge 115 Units Surrey 1,691 Units Countenay 179 Units Victoria 154 Units New Westminster 117 Units Saskatoon 2643 Units Regina 991 Units Lethbridge 255 Units Calgary 3,748 Units Edmonton 6,206 Units Red Deer 182 Units MB British Columbia 4,207 units Alberta 10,210 units Saskatchewan 3,634 units Manitoba 405 units 18,683 - Total Units YTD SKAB BC *Including 50 condo units held for resale, 5 vacant lands and 7 commercial buildings Target Markets Rental Apartment Universe City <100 Units/building Total Rental Universe % Mid-Market Winnipeg 49,071 76,818 64% Saskatoon 15,427 18,762 82% Regina 14,496 15,795 92% Calgary 34,429 61,359 56% Edmonton 64,926 96,560 67% Lethbridge 4,145 4,412 94% Red Deer 6,930 7,160 97% Surrey 5,432 7,624 71% Abbotsford 4,814 5,289 91% Chilliwack 4,265 4,265 100% Kamloops 4,568 4,678 98% Penticton 2,690 2,690 100% Vernon 1,920 1,920 100% Prince George 3,411 3,759 91% Victoria 25,691 33,470 77% Courtenay 2,181 2,530 86% Total MEQ Target Markets 244,396 347,091 70%
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mainst.biz Page 10 Potential Target Market Growth Estimated Potential Rental Apartment Total Mid-Market Share Numbers obtained from CMHC, the potential target markets include Edmonton, Calgary, Red Deer, Regina, Saskatoon, Winnipeg, Chilliwack, Abbotsford, Surrey, Kamloops, Penticton, Vernon, Courtenay, Prince George *YTD *Including 50 condo units held for resale, 10 vacant lands and 7 commercial buildings 0 10000 20000 30000 40000 50000 20%19%18%17%16%15%14%13%12%11%10%9%8%
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mainst.biz Page 11 A ‘Value Creation’ Company Significant growth with limited equity dilution (YTD) Since being listed on TSX • Listed on the TSX in 2000, Mainstreet has grown its portfolio from 272 units with a market value of $17M to 18,683 units (YTD) with market value of $3.6B and limited equity dilution • As at March 31, 2025 there were 9,318,818 common shares outstanding compared to 8,883,333 on the date of TSX listing • From October 2006 to October 2010 we purchased 4.5 million shares through NCIB and SIB, average price $6.87 • 2016, purchased 1 .4 million shares through NCIB and SIB, average price $35.99 • 2017 , purchased 53,569 shares through NCIB, average price $36.80 • 2018, purchased 3,659 shares through NCIB, average price $37 .02 • 2020, purchased 31,900 shares through NCIB, average price $55.37 • 2021, purchased 4,612 shares through NCIB, average price $68.10 • 2022, purchased 18,500 shares through NCIB, average price $113.24 • 2023, purchased 7 ,900 shares through NCIB, average price $116.33 • 2024, purchased NIL • Q1 2025, purchased NIL • Q2 2025, purchased NIL 0 5000 10000 15000 20000 18,683
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mainst.biz Page 12 Growing The Portfolio ASSET GROWTH ($M) Since being listed on TSX 12 Y ears – $1 Billion 7 Y ears – $2 Billion 4 Y ears – $3 Billion 0 500 1000 1500 2000 2500 3000 3500 4000 Gross Book Value Appraised Value No. of Outstanding Shares 16% CAGR (Up to Q2 2025 IFRS Value)
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mainst.biz Page 13 Diversified Portfolio British Columbia 4,255 Units $1,137M 32% $3.56B IFRS Value Q2 2025 $1,873M 52% $521M 15% $35M 1% Alberta 10,157 Units Saskatchewan 3,634 Units Manitoba 405 Units BC AB SK MB BC NAV is 43%
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mainst.biz Page 14 2025 Drivers: NOI Catch Up Stabilization of existing non-stabilized portfolio which equates to 12% of the total portfolio Achieve Optimum Potential Net Operating Income Estimated $460M liquidity in 2025 Runway Left $46 M (Before rent increases) 7.8% 8.4% 8.0% 6.7% 6.9% 7.5% 8.0% 7.5% 7.8% 8.3% 9.2%10.2%9.7%10.7%10.6%10.9%11.1%11.3%10.0% 7.8% 6.7% 6.5% 6.4% 5.7% 5.9% 7.4% 8.0% 8.0% 8.6% 9.1% 9.1% 8.7% 7.8% 8.3% 7.3% 5.5% 4.4% 4.5% 4.7% 4.3% 3.3% 3.2% 2.8% Vacancy Rate (inclusive of un-stabilized growth) Annualized Additional NOI at 95% Occupancy Rate Current Mark-to- Market Gap 5% Inflationary Rate Adjustment on Operating Costs Annualized Optimum Potential Calgary $1,353 $6,770 $(740) $53,964 Edmonton $- $9,253 $(1,102) $54,810 Surrey $- $20,010 $(366) $46,000 Abbotsford $- $5,669 $(163) $17,986 Prince George $- $3,454 $(78) $9,202 Regina $7 $463 $(173) $8,736 Winnipeg $28 $38 $(67) $2,298 Saskatoon $- $2,129 $(430) $21,529 Total from operations $1,521 $48,668 $(3,118) $214,525 Q4 2024Q1 2025Q2 2025 3.4% 4.2% 4.6%
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mainst.biz Page 15 Apartment Business Driver Our stabilized vacancy rate is 4.6% as at Mar 31, 2025 • Neither Alberta or Saskatchewan are subject to rent control legislation • In British Columbia, landlords are entitled to lease a suite to a new tenant at market rental rate • Every 1% drop in vacancy rate equals $2.9M increase in NOI • Every $10 adjustment in monthly net rent equals $2.2 M increase in NOI (in 000s, except vacancy and suite counts) Stabilized Assets - Mark-to-Market Potential Un-stabilized Assets - Mark-to-Market Potential City Number of Stabilized Suites Vacancy Rate Stabilized Portfolio Stabilized suites Mark-to- Market (including incentive reduction opportunity) Per suite per month Number of Un-Stabilized Suites Vacancy Rate Un-Stabilized Portfolio Un-Stabilized suites Mark- to-Market (including incentive reduction opportunity) Per suite per month Calgary 3,806 6.7% 143 144 6.9% 226 Edmonton 5,683 4.8% 120 524 4.4% 134 Surrey 1,939 4.3% 736 317 1.9% 1,023 Abbotsford 1,136 2.8% 379 149 0% 448 Prince George 283 1.1% 474 431 4.2% 376 Regina 991 5.1% 38 0 N/A N/A Winnipeg 87 8.1% 40 318 1.3% 19 Saskatoon 2,334 3.1% 59 309 1% 86 Total 16,259 4.8% 209 2,192 2.9% 314
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mainst.biz Page 16 Debt Management Average term to maturity: 5.1 Years Weighted average rate: 3.07% CMHC insured mortgages 2025 As at Mar 31st, 2025, Mainstreet’s outstanding mortgage balance was $1.850M, of which 100% is CMHC insured (fixed) at an average interest rate of 3.07%. Long-term fixed interest mortgages 100% of Mainstreet’s mortgages are at fixed long-term rates. 0 100 200 300 400 500 20232025 2026 2027 2028 2029 2030 2031 2032 0 1 2 3 4 5 20332025 2026 2027 2028 2029 2030 2031 2032 Interest Rate Description Debt (Millions of dollars) 3.07% Fixed CMHC $1,850 0% Fixed Non-CMHC $0 N/A Floating-CMHC $0 3.07% Total $1,850 Mortgage Maturity as at Mar 31st, 2025 $ millions (Annual growth 2000 – 2025)
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mainst.biz Page 17 Mainstreet Machine
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mainst.biz Page 18 5 Pillar Competitive Advantage Statement Acquire under-performing assets at attractive prices Limited to no competition from REITs and Pension Funds in the mid-market sector Internalized construction capabilities Internalized operations platform / systems are scalable Internalized marketing and effective branding 1. 2. 3. 4. 5. = Margins
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mainst.biz Page 19 Mainstreet ‘Spec’
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mainst.biz Page 20 Mainstreet: Adding Value Mainstreet Estates - Surrey Mainstreet 1310 - Saskatoon Mainstreet T ower - Edmonton Sunalta 1913 - Calgary Improve NOI from $69k to $2,340k Improve NOI from (-$223k) to $327k Improve NOI from $1,543k to $3,493k Improve NOI from (-$135k) to $224k
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mainst.biz Page 21 Mainstreet: Adding Value Bow River T ownhomes, Calgary Queen’s Park T ownhomes, Calgary Saskatoon 1310, Saskatoon Avenue T ower, Calgary
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mainst.biz Page 22 Mid-Market Efficiencies Higher operating margins versus larger concrete complexes Low rise properties have relatively less operating expenses such as: • Limited or no elevator maintenance • No repairs to, heating or maintenance of underground parking garage • Amenities Lower realty taxes versus larger structures Lower hydro cost resulting from • Elimination of heating/heat loss from elevator shafts • Elimination of heating of underground parking garages • Less common areas to heat and cool
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mainst.biz Page 23 Operating Efficiencies Expense reduction 1. Mainstreet’s aggressive renovation program has resulted in significant expense reductions in key areas such as: • Electrical (install compact fluorescent bulbs: LED bulbs for emergency exit signs) • Water (‘Ultra-high efficiency’ toilets; low-flow aerators installed on showers and all taps) • Install energy efficient windows / exterior (new siding) / new insulation 2. Averaging 40% savings by installing energy saving water flow devices (Installed in most Saskatoon properties and currently installing in Calgary, Edmonton and Abbotsford portfolios) 3. Averaging 30% savings by installing LED lights (9 watt vs 60 watt) in all properties across Western Canada 4. Estimated 30% savings in gas consumption by installing EndoThermTM (Pilot test in 22 properties in Alberta) 5. The majority of existing units have been upgraded with energy efficient devices 6. Sub-metering all properties that are not currently set-up in this manner; savings on utilities for MEQ 7. Ability to achieve economies of scale: • Fixed price gas contracts • National deal on bulk purchasing discount for construction supplies 8. Automated withdrawal of monthly rents 9. Software (‘real-time’, web-based, national operations system) 10. Advertising & Marketing (reduced costs by: internalizing marketing and advertising; shift advertising from print to online; invest in company website to drive rentals) 11. Financial Reporting (internalize design and production for annual and quarterly reports) “This is a fixed-cost business; every increase in revenue or reduction in expense goes to the bottom line”
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mainst.biz Page 24 Clustering Strategy We achieved this through: • Clustering assets within a 5 block radius • Requiring fewer resident managers leading to reduced HR costs • Reduce the cost of having multiple property maintenance contracts • Create dominant brand recognition in neighborhoods to reduce advertising costs By clustering assets, Mainstreet maximizes efficiencies and growth, transforming a single asset into a network of apartment complexes Surrey Edmonton Regina Calgary Saskatoon Abbotsford
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mainst.biz Page 25 Edmonton ICE District Strategy Continued Expansion of Inner-City Edmonton Valley West LRT Line LRT Metro Line ICE District NAIT Campus 124th Street Grand Market Shaw Convention Centre Art Gallery of Alberta Mainstreet Tower Roger’s Arena Stantec Tower Alberta Legislature Building NorQuest College NAIT MacEwan University Oliver Square Brewery District Roxy Theatre Edmonton 170 Properties 6,208 Apartments
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mainst.biz Page 26 Property & Equipment Conversion Value Residual Land • Ashley Court - Surrey, BC High Density Residential Land • Greenwood Gardens - Surrey, BC High Density Residential Land • Imperial Court - Surrey, BC High Density Residential Land • 33263 Bourquin Cres. - Abbotsford, BC Development Lot • Edmonton - Wellington (14.52 Acres) • Trevella Park Townhomes - Calgary, AB (~14 Acres of high density residential land) • Highland Park Townhomes - Lethbridge, AB (13.1 Acres of high density residential land) • West Meadow Apartments – Saskatoon, SK (9.4 Acres) • Mainstreet Village - Edmonton, AB (6.65 Acres of high density residential land) • Queen’s Park - Calgary, AB (6.62 Acres) • Bow River Townhomes River – Calgary, AB (6.4 Acres) • Premier City Park - Edmonton, AB (5.45 acres of land in ICE District) • Mainstreet Courtenay Apartments – Courtenay, BC (4.94 Acres) • Cedarbrae (including daycare) - Calgary, AB (3.92 Acres) • Kamloops River Frontage (3.4 Acres) • Dover - Calgary, AB Residual Land (2.28 Acres) • Regina Warehouse + Land (1 .25 Acres) • Vernon Development Lot (.55 Acres) • Rockwood Portfolio Development Lots – Edmonton, AB ( .34 Acres) • Regina Parliament Lot Development Lot (.31 Acres) • Rockwood Office + Commercial – Edmonton, AB (8,988 sq. ft) • Edmonton Office + Warehouse (7 ,502 sq. ft) • Saskatoon 20th Street Lot Development Lot (5,851 sq. ft) • Marda Loop House – Calgary, AB (4,200 sq. ft) • The Junction - Calgary, AB Development Lot Inglewood (3,067 sq. ft) • Kingsway - Edmonton, AB Development Lot (18,000 sq. ft) MEQ owns 3 houses, 1 tower and 1 commercial property near Scotiabank Saddledome, Calgary Potential to redevelop land + 1 apartment building MEQ is in the process of transforming obsolete retail space into an additional 14 suites in Edmonton, Calgary and Abbotsford
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mainst.biz Page 27 Townhouse & Condo Conversion Value Condominium conversion The opportunity exists to convert the existing portfolio into condominiums, in particular for the following townhouse complexes in Alberta and condo-titled properties in BC: Alberta Townhouses • Queen’s Park – Calgary • Trevella Park – Calgary • Bannerman Terrace – Edmonton • Clareview Court – Edmonton • Lauderdale – Edmonton • Wedgewood – Edmonton • Wellington – Edmonton • Highland Park – Lethbridge Condo Spec • Crescent Heights View – Calgary British Columbia (Abbotsford) • Hanna Estates • Pinetree complex • Sunshine complex • Villa Christina British Columbia (Abbotsford) Hanna Estates Pinetree complex Sunshine complex Villa Christina
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mainst.biz Page 28 ESG Environmental Consultation • Committed to implementing best environmental practices suggested by independent environmental consultants Energy & Water Efficiency • Led Lighting at 40% average leadership • Savings Canada wide • 30% savings in gas consumption by installing EndoTherm in numerous Albertan properties • 40% savings in areas where new water flow devices have been installed Recycling Program • Waste reduction initiatives e.g. Diabetes Canada tenant clothes recycling program Health & Safety • Competitive employee health benefits • Enhanced Covid protocols for employees and tenants Partnering & Participation • Housing Assistance Programs • Partnering with Calgary Housing, Mustard Seed & Homeless Society • Rent deferrals and fee waivers during Covid Pandemic Employee Growth & Development • Prioritizing on-the-job, internal and academic training • Internal promotion actively encouraged • Annual employee evaluations • Best HR practices include strong multi-cultural and non-discriminatory hiring Risk Management • Audit Committee • Whistle Blower Policy • Cyber Security Diversity • Gender balanced leadership • Specialized sub-committees Good Governance • High ethical standards through a strong governance framework, overseen by a highly experienced Board of Directors • Chairman of Board and CEO separated
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Coming Up Value-Add Case Studies: Pg – 30-34 Acquisitions: Pg – 35-46
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mainst.biz Page 30 Value-Add Case Studies Vancouver Lower Mainland (Surrey), BC Mainstreet Estates Edmonton, AB Mainstreet Park Calgary, AB Huntsville Saskatoon, SK West Meadow
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mainst.biz Page 31 Value-Add Model: Mainstreet Estates, Surrey, BC Mainstreet purchased the above property (331 units with 5 buildings) in January 2015. It took approximately 6 months to complete the stabilization process; we financed the property in November 2016. Financial results for the property before and after stabilization and financing are summarized as follows: (000s) Purchase Price 33,650 Capital Expenditure 3,928 Total investment including capital expenditure 37,578 Mortgage load after financing 36,908 Equity invested 678 Return on Equity (NOI) 345% At acquisition After stabilization % increase Annualized rental income 1,900 3,485 83% Annualized NOI 69 2,340 3,291% Appraised value - 51,400 - Value Created - 17,750 30%
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mainst.biz Page 32 Value-Add Model: Mainstreet Park, Edmonton, AB Mainstreet purchased the above property (178 units) in August 2016. It took approximately 12 months to complete the stabilization process; we financed the property in November 2017. Financial results for the property before and after stabilization and financing are summarized as follows: (000s) Purchase Price 13,350 Capital Expenditure 2,142 Total investment including capital expenditure 15,492 Mortgage load after financing 19,865 Equity invested (4,373) Return on Equity (NOI) Infinite At acquisition After stabilization % increase Annualized rental income 632 2,095 231% Annualized NOI (281) 1,373 Infinite Appraised value - 26,700 - Value Created - 11,208 72%
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mainst.biz Page 33 Value-Add Model: Huntsville, Calgary, AB Mainstreet purchased the above property (52 units) in April 2012. It took approximately 29 months to complete the stabilization process; we financed the property in September 2014. Financial results for the property before and after stabilization and financing are summarized as follows: (000s) Purchase Price 5,500 Capital Expenditure 1,160 Total investment including capital expenditure 6,600 Mortgage load after financing 6,759 Equity invested (99) Return on Equity (NOI) Infinite At acquisition After stabilization % increase Annualized rental income Nil 743 Infinite Annualized NOI Nil 586 Infinite Appraised value - 12,100 - Value Created - 5,440 82%
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mainst.biz Page 34 Value-Add Model: West Meadow, Saskatoon, SK Mainstreet purchased the above property (240 units) in June 2019. It took approximately 16 months to complete the stabilization process; we financed the property in September 2020. Financial results for the property before and after stabilization and financing are summarized as follows: (000s) Purchase Price 19,000 Capital Expenditure 1,010 Total investment including capital expenditure 20,010 Mortgage load after financing 24,956 Equity invested (4,946) Return on Equity (NOI) Infinite At acquisition After stabilization % increase Annualized rental income 2,049 2,937 43% Annualized NOI 1,175 1,952 66% Appraised value - 32,190 - Value Created - 12,180 61%
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mainst.biz Page 35 2024 Q4 Acquisitions Q2 2025 Acquisition Edmonton 10544 115 St NW 4,500sqft $960,000 TBD N/A Total Q2 2025 TBD Q2 2025 Subsequent Acquisition City Address # of Units Purchase Price Appraised Value Price per door Red Deer 5140 62 Street 182 units $15,500,000 TBD $85,165 Total Q2 2025 TBD
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mainst.biz Page 36 2024 Q4 Acquisitions Q4 2024 Acquisition City Address # of Units Purchase Price Appraised Value Price per door Victoria 1023 Esquimalt Road 48 $9,175,000 TBD $191,146 Total Q4 2024 48 TBD Q1 2025 Acquisition City Address # of Units Purchase Price Appraised Value Price per door Abbotsford 33941 Essendene Ave 25 $4,475,000 TBD $179,000 Calgary 1231 15 Ave SW 43 $7,800,000 TBD $181,395 Prince George 3858 West Austin Rd 48 $5,550,000 TBD $115,625 Total Q1 2025 116 TBD Q1 2025 Subsequent Acquisition Edmonton 10544 115 St NW 4,500sqft $960,000 TBD N/A Total Q1 2025 TBD
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mainst.biz Page 37 2024 Q3 Acquisitions Q3 2024 Acquisition City Address # of Units Purchase Price Appraised Value Price per door Prince George 2080 20th Ave, Prince George, BC V2L 5C9 29 $3,103,000 TBD $107,000 Edmonton 11850 101 St NW, Edmonton AB T5G 2B7 21 $2,058,000 TBD $98,000 Maple Ridge 22422 North Ave, Maple Ridge, V2X 2L8 26 $3,749,975 TBD $144,230 Edmonton 10104 111 Ave, NW, Edmonton, T5G 0B3 86 $12,257,195 TBD $142,526 Victoria 3498 Lovat Ave, Victoria, BC, V8X 1V2 106 $19,500,000 TBD $183,962 Courtenay 1846 England Ave, Courtenay, BC, V9N 7H9 26 $3,892,507 TBD $149,712 Courtenay 1060 Willemar Ave, Courtenay, BC, V9N 3L9 22 $3,232,445 TBD $146,929 Airdrie 16 Flett Crescent NE, Airdrie, AB, T4B 2A9 24 $4,100,000 TBD $170,833 Edmonton 11720 124 St NW, Edmonton, T5M 0K9 20 $2,1 17,000 TBD $105,850 Calgary 1832 27 Ave SW, Calgary AB, T2T 1H1 9 $1,475,000 TBD $163,889 Chilliwack 9430 Nowell St, Chilliwack BC, V2P 4X7 29 $4,506,992 TBD $155,414 Chilliwack 9482 Williams St, Chilliwack BC, V2P 5G1 51 $7,851,559 TBD $153,952 Chilliwack 9545 College St, Chilliwack BC, V2P 4M2 16 $2,492,539 TBD $155,784 Chilliwack 46078 Bole Ave, Chilliwack BC, V2P 2V8 19 $2,955,566 TBD $155,556 Chilliwack 46096 Bole Ave, Chilliwack BC, V2P 2V8 9 $1,409,343 TBD $156,594 Saskatoon 1322 College Drive, Saskatoon, S7N 0W5 17 $1,675,500 TBD $98,559 Saskatoon 3170 Laurier Drive, Saskatoon, S7L 5J4 38 $4,321,143 TBD $113,714 Saskatoon 3176 Laurier Drive, Saskatoon, S7L 5J4 32 $3,638,857 TBD $113,714 Prince George 4501 Azure Ave, Prince George, V2M 6R2 18 $2,394,000 TBD $133,000 Calgary 311 19 Ave SW, Calgary AB T2S 0E1 16 $2,500,000 TBD $156,250 Prince George 4509 Azure Ave, Prince George, V2M 6R2 18 $2,394,000 TBD $133,000 Total Q3 2024 632 $91,624,621 $144,976
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mainst.biz Page 38 2024 Acquisitions Q1 2024 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Maple Ridge, BC 12151 224 Street 89 18,050,000 TBD 202,809 Saskatoon 238 Fairmont Drive 222 21,644,000 TBD 97,495 Edmonton 11920 101 St NW 21 1,995,000 TBD 95,000 Edmonton 11908 102 St NW 15 1,425,000 TBD 95,000 Calgary 303 23 Ave SW 8 1,272,000 TBD 159,000 Calgary 1612 38 St SW 6 900,000 TBD 150,000 Total Q1 2024 361 45,286,000 125,446 Q2 2024 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Edmonton 1150 - 1194 Hooke Rd NW Edmonton AB 147 17,000,000 TBD 115,6 46 Edmonton 12911 132 Ave NW, Edmonton AB 108 14,920,000 TBD 138,148 Total Q2 2024
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mainst.biz Page 39 2023 Acquisitions Q1 2023 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Calgary 1737 26 Ave SW 12 1,820,000 TBD 151,666 Calgary 1711 10 St SW 16 2,364,000 TBD 147,750 Calgary 1608 16 St SW 22 3,125,000 TBD 142,045 Calgary 603 13 Ave SW 13 1,807,000 TBD 139,000 Edmonton 3149 151 Ave NW 99 13,759,901 TBD 138,989 Edmonton 11240,11325 & 11335 124 St NW 99 10,690,000 TBD 107,979 Total Q1 2023 261 32,991,956 126,405 Q2 2023 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Winnipeg 610 Portage Ave 291 24,050,000 TBD 83,798 Calgary 1710 Radisson Dr SE 136 22,000,000 TBD 169,231 Calgary 616 13 Ave SW 24 3,720,000 TBD 155,000 Prince George 1438 Queensway 50 3,250,000 TBD 65,000 Prince George 3155 Westwood Dr 48 5,520,000 TBD 1 15,000 Calgary 2210 & 2216 17B St SW 38 5,700,000 TBD 150,000 Nelson 505 Second St 61 6,925,000 TBD 113,525 Total Q2 2023 648 71,165,000 113,676
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mainst.biz Page 40 2023 Acquisitions Q3 2023 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Edmonton 10532 & 10534 115 St NW 2 (Commercial) 1,260,000 TBD 630,000 Prince George 3820 15 Ave 48 6,000,000 TBD 125,000 Prince George 3030 10 Ave 30 2,850,000 TBD 95,000 Penticton 223 Victoria Dr 15 2,075,000 TBD 138,333 Calgary 125 27 Ave NW 12 1,978,000 TBD 164,833 Calgary 1135 15 Ave SW 22 3,518,000 TBD 159,909 Total Q3 2023 130 17,711,000 128,523 Q4 2023 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Calgary 323 17 Ave SW 3 (Commercial) 3,565,000 TBD Commercial Edmonton 10630 111 Street NW 20 2,060,000 TBD 103,000 Edmonton 10707 111 Street NW 31 3,193,000 TBD 103,000 Edmonton 10740 112 Street NW 19 1,957,000 TBD 103,000 Edmonton 11940 104 Street NW 15 1,545,000 TBD 103,000 Edmonton 11834 86 Street NW 18 1,854,000 TBD 103,000 Total Q4 2023 103 14,174,000
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mainst.biz Page 41 2022 Acquisitions Q1 2022 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Edmonton Multiple 232 20,000,000 TBD 78,261 Edmonton 10245 & 10255 Alex Taylor Rd 27 2,500,000 TBD 92,593 Calgary 316 18th Ave SW 10 1,460,000 TBD 146,000 Total Q1 2022 269 23,960,000 82,247 *including 2 commercial buildings and 2 lots – allocation $2M
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mainst.biz Page 42 2022 Acquisitions Q2 2022 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Lethbridge 125 Columbia Blvd W 20 2,400,000 TBD 120,000 Calgary 234 21 Ave SW 16 2,500,000 TBD 156,250 Calgary 111 & 117 24 Ave SW 32 5,120,000 TBD 160,000 Edmonton 16316 106A Ave 46 5,500,000 TBD 119,565 Calgary 1726 7St SW 16 2,456,000 TBD 153,500 Saskatoon #303, 529 Ave X S 1 35,000 TBD 35,000 Calgary 312 3 Ave NE 27 4,455,000 TBD 165,000 Prince George 791 Ahbau St 108 12,950,000 TBD 119,9 07 Total Q2 2022 266 35,429,785 133,195
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mainst.biz Page 43 2022 Acquisitions Q3 2022 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Prince George 1601 & 1617 Queensway 42 4,300,000 TBD 102,381 Prince George 1588 Juniper St 24 2,870,000 TBD 119,583 Calgary 1838 14 St SW 20 3,230,000 TBD 161,500 Winnipeg 280 & 286 River Ave 27 2,562,000 TBD 94,889 Fort Sask 210 & 214 Westpark Dr 68 8,830,000 TBD 129,853 Regina 1927 & 1945 Halifax St 22 1,400,000 TBD 63,636 Total Q3 2022 210 24,142,000 114,962 Q4 2022 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Regina 45 Kleisinger Crescent 31 2,690,000 TBD 86,774 Edmonton 10408 155 Ave NW 39 4,351,000 TBD 111,56 4 Total Q4 2022 219 26,750,000 86,774
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mainst.biz Page 44 2021 Acquisitions Q1 2021 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Saskatoon #103, 529 Ave X S 1 24,000 132,353 24,000 Kamloops 196 Yew St 18 2,300,000 TBD 127,778 Regina 3525 Avonhurst Dr 72 7,459,000 TBD 103,597 Winnipeg 314 Broadway 87 7,330,000 TBD 84,253 Total Q1 2021 178 17,113,000 Q2 2021 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Calgary 1224 14 Ave SW 32 4,900,000 TBD 153,125 Calgary 1127 17 Ave NW 18 2,600,000 TBD 144,444 Penticton 144 Brunswick St 38 5,250,000 TBD 138,158 Courtenay 1970 Fitzgerald Ave 131 14,000,000 TBD 106,870 Total Q2 2021 219 26,750,000
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mainst.biz Page 45 2021 Acquisitions Q3 2021 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Chilliwack 46180 Bole Ave 45 6,717,000 TBD 149,267 Chilliwack 46155 Bole Ave 48 7,1 14,000 TBD 148,208 Chilliwack 9275 Mary St 42 6,469,000 TBD 154,024 Penticton 769 Winnipeg St 24 3,400,000 TBD 141,667 Vernon 3501 Centennial Dr 47 5,500,000 TBD 117,021 Calgary 116 & 122 12 Ave NW 23 3,030,000 TBD 131,739 Calgary 1720 10a St SW 16 2,138,000 TBD 133,625 Edmonton 10730 105 St NW 20 1,635,000 TBD 81,750 Calgary 8880 Horton Rd SW (Held for sale) 136 22,440,000 TBD 165,000 Calgary 1722 5a St SW 18 2,556,000 TBD 142,000 Edmonton 8515 112 St NW 329 44,150,000 TBD 129,179* Edmonton 10175 & 10187 113 St 58 6,265,000 TBD 108,017 Edmonton 11302 & 11310 109 Ave NW 112 10,640,000 TBD 95,000 Total Q3 2021 918 122,054,000
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mainst.biz Page 46 2021 Acquisitions Q4 2021 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) New Westminster 1205 - 1207 4 Ave 33 6,600,000 TBD 200,000 Chilliwack 46109 Gore Ave 25 3,750,000 TBD 150,000 Saskatoon #205, 529 Ave X S 1 17,900 TBD 17,900 Calgary 832 4A St NE 12 1,670,000 TBD 139,167 Calgary 1826 17 St SW 12 1,913,222 TBD 159,435 Calgary 641 Meredith Rd NE 19 3,029,268 TBD 159,435 Calgary 1837 11 Ave SW 10 1,594,351 TBD 159,435 Calgary 306 21 Ave SW 16 2,550,962 TBD 159,435 Calgary 1216 14 St SW 14 2,232,092 TBD 159,435 Calgary 4315 73 St NW 6 956,611 TBD 159,435 Calgary 4347 73 St NW 7 1,116,046 TBD 159,435 Calgary 2124 15 St SW 11 1,753,787 TBD 159,435 Calgary 1440 Memorial Dr NW 30 4,783,054 TBD 159,435 Calgary 2131 17 St SW 8 1,275,481 TBD 159,435 Calgary 1701 35 St SE 26 4,145,314 TBD 159,435 Calgary 609 2 Ave NE 24 3,826,444 TBD 159,435 Calgary 1626 15 Ave SW 28 4,464,184 TBD 159,435 Calgary 2109 17 St SW 28 4,464,184 TBD 159,435 Total Q4 2021 918 122,054,000
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mainst.biz Page 47 2020 Acquisitions Q1 2020 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Calgary 4311 75 St NW 8 1,040,000 1,130,000 130,000 Saskatoon 1306 20 St W - 150,000 TBD N/A Saskatoon 1310 20 St W 44 770,000 TBD 17,500 Saskatoon 1320 20 St W 10 400,000 1,620,000 40,000 Edmonton 10719 110 St NW 23 1,918,000 2,730,000 83,391 Kamloops 627 Lilac Ave 48 7,000,000 TBD 145,833 Saskatoon #18, 2309 17 St W 1 37,000 132,353 37,000 Total Q1 2020 134 11,315,000 Q2 2020 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Calgary 333 4 Ave NE 16 2,130,000 TBD 133,125 Edmonton 13220 & 13528 140 St NW 220 34,000,000 42,000,000 154,545 Calgary 1711 26 Ave SW 18 2,605,000 3,230,000 144,722 Saskatoon #308, 601 Ave X S 1 37,000 132,353 37,000 Saskatoon 111 111 St W 24 1,872,000 TBD 78,000 Total Q2 2020 279 40,644,000
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mainst.biz Page 48 2020 Acquisitions Q3 2020 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Calgary 1624 16 Ave SW 28 3,360,000 TBD 120,000 Edmonton 10730 102 St NW 33 2,000,000 TBD 60,606 Total Q3 2020 61 5,360,000 Q4 2020 Acquisitions City Address # of Units Purchase Price (CAD) Appraised Value (CAD) Price per Door (CAD) Calgary 501 40 Ave NW 188 30,500,000 TBD 162,234 Cochrane 104 1 St E 17 1,750,000 TBD 102,941 Saskatoon #16, 2309 17 St W 1 37,000 132,353 37,000 Saskatoon #305, 525 Ave X S 1 35,000 132,353 35,000 Total Q4 2020 207 32,322,000
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mainst.biz Page 49 Appendix Governance - The CEO Governance - The Management T eam Governance - The Management T eam Governance - The Board Governance - The Board
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mainst.biz Page 50 Governance - The CEO Bob Dhillon | Founder, President & CEO Bob Dhillon is Founder, President & CEO of Mainstreet Equity Corp., a publicly traded real estate corporation on the Toronto Stock Exchange (TSX:MEQ). Based in Calgary, Alberta, Canada, as at Q2 2025, assets are valued at CDN$3B+ with 18,683 rental apartment units across western Canada (BC, AB, SK and Winnipeg). For over 25 years, Bob and Mainstreet have provided consistent, year over year, double digit returns to investors through MEQ’s continued organic growth. In the 2019 Scotiabank Equity Research Daily Edge poll, MEQ led the Total Return Performance for the Canadian Listed Real Estate Sector, outperforming the TSX Real Estate Index at 89.9%. In a 20-year (2000 - 2020) stock performance comparison of the TSX, MEQ outperformed Amazon, Berkshire Hathaway and Royal Bank of Canada. Along with its healthy balance sheet success, Mainstreet is a strong and proud champion of affordable housing in western Canada. Bob is also the owner of National Payments, a Visa and MasterCard approved merchant-processing business in the financial services sector. In 2018, Bob gifted CDN$10M to the University of Lethbridge towards the creation of the Dhillon School of Business (DSB)*. Bob’s strong belief that education and entrepreneurship are the engines of national prosperity, along with his strong desire to give back to the province that provided him with so many opportunities, motivated his decision to make this substantial and transformative contribution. One of the primary areas of study at DSB is world class research and emerging technologies. Bob is also very proud of the fact that DSB was the first post-secondary institution in Canada to mandate an indigenous studies course requirement.
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mainst.biz Page 51 Governance - The Management Team T rina Cui | Chief Financial Officer Trina Cui is Mainstreet’s Chief Financial Officer, responsible for the complete financial oversight of the company including external and internal reporting, capital allocation, business performance management, commercial management, and investor relations. Trina joined the Mainstreet team in 2008, and has served in several roles specializing in fiscal oversight; boldly guiding the company through the challenging economic conditions of those times and overseeing a dramatic period of growth in the years since. Trina’s expertise and her experienced perspective are informed by her CPA-CGA designation, her Bachelor of Commerce (High Honours) degree from Carleton University (double major in Accounting and Finance), and her Master of Business Administration degree from Queen’s University. Trina has a passion for literature and fine art, often found playing the piano when not hiking, snowboarding, or traveling the world in her spare time. Trina’s favorite way to relax, though, is spending time with her family.
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mainst.biz Page 52 Governance - The Management Team Anthony Lam | Operating Officer Anthony Lam is Mainstreet’s Operating Officer, joining the team in 2018. The title belies the number of roles he’s cycled through in that time, however. Anthony went through these various roles to obtain a thorough understanding of Mainstreet’s operational dynamics at all levels, believing that being in touch with challenges faced at the ground level is crucial to informed and responsive leadership. Anthony obtained his CPA designation during his time at Ernst and Young, and has overseen the implementation and integration of the Yardi operational management system into Mainstreet, including the associated change management. Anthony is a gourmand, with a passion for fine food and drink worth traveling for. Johnny Lam Johnny joined Mainstreet as Chief Financial Officer when the company went public in 1998. A founding team member, Johnny brings over 30 years of senior management experience in Asia, the UK, Australia, and North America. Before coming to Mainstreet, he served as VP of Finance and Administration at HB Media Holding Pte. Ltd. in Singapore. In MEQ, Johnny held the titles of both Chief Operating Officer and Chief Financial Officer until deciding in 2017 to focus his energy on operational matters exclusively. As such, Johnny was responsible for all aspects of operations, integration and re-positioning of new properties, marketing of our brand and overall business development. Johnny retired from MEQ in 2021, since then he has remained a part of the senior management team fulfilling key management roles and focuses on the development of the 2nd generation management team at Mainstreet.
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mainst.biz Page 53 Governance - The Board Joe Amantea | Secretary Joe Amantea is a senior associate with the law firm Warren Benson Amantea LLP in Calgary, Alberta. Mr. Amantea has more than three decades of experience in real estate, multi-family acquisitions, construction law, foreclosures and corporate/commercial law. He deals mainly with small and medium- sized private companies. Mr. Amantea articled with Warren, Raymaker & Stewart (now known as Warren Benson Amantea LLP) in 1977 and was admitted to the Bar in 1978. He became a partner of the firm on February 1, 1982. Mr. Amantea has an extensive record of professional and community service that has included roles as Past Director and Chairman, Columbus Savings and Credit Union Ltd.; Director, Calgary Italian Sportsmen’s Dinner Association; Past Unit Chairman, Western Canada Summer Games; Member and Executive Officer of the St. Joseph’s School Parent Council; Member, Calgary Winter Club; and Member, University of Calgary Chancellors Club. Mr. Amantea acts as corporate counsel on real-estate-related matters on behalf of Mainstreet. Karanveer Dhillon | Director K.V. Dhillon is the CEO and Managing Director of Guggenheim Capital Management (Asia) and Head of Guggenheim’s India operations. Guggenheim Capital is a leading investment management firm with over $100 billion under management. Mr. Dhillon has over 16 years of experience in the financial services area. Prior to joining Guggenheim Partners in 2008, he was a partner at Thomas Weisel Partners (TWP). Mr. Dhillon led TWP’s efforts in India by establishing its Mumbai office. Before joining the Institutional Sales team at TWP in 1999, He was a VP on the Sales team at First Analysis, and prior to that, he was an Associate in Sales at Kidder Peabody. During his career, Mr. Dhillon has established strong relationships with leading investment managers including AIM Funds, Chartwell Investment Partners, Morgan Stanley Asset Management, T. Rowe Price and Turner Investment Partners. Mr. Dhillon holds a Bachelor’s degree from the University of Calgary and an M.B.A. from the Kellogg School of Management, Northwestern University. Rich Grimaldi | Audit Committee Rich Grimaldi is a seasoned real estate executive with over 25 years of experience in senior roles in the real estate industry. He has held various positions in the Commercial Real Estate Division at GE Capital, including Managing Director of Institutional Accounts, Managing Director - Canadian Real Estate, and Managing Director - Large Transaction Group. He has extensive experience in financing public and private companies, structuring debt, equity and joint- venture new business opportunities. As the Managing Director of GE Real Estate National Accounts from 2001 to 2004 (in New York), he was responsible for all debt investments in North America covering a customer base that consisted of Opportunity Funds, REITs and Public Companies. National Accounts consisted of a $4 billion portfolio and closed approximately $3 billion of new business during that term.
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mainst.biz Page 54 Governance - The Board Ron B Anderson | Chair, Human Resources Committee Ron Anderson has over 30 years of experience in real estate finance, private equity, M&A and corporate and commercial banking in Western Canada. He ran the British Columbia operations of National Bank of Canada from 1986 to 1993. Tallinn Capital, which he founded in 1999, has offices in Vancouver and Calgary and manages two private mezzanine loan funds, one focused on real estate finance and the other focused on financing the mid-market corporate and junior oil & gas sectors. Mr. Anderson received his Certified General Accountant designation in 1987 and earned a Bachelor of Commerce from the University of British Columbia in 1979. In addition to sitting on the Mainstreet board, he is a director of The Nature Trust of British Columbia, a Governor and past-Treasurer of Crofton House School and has been a director of a number of public and private companies and non-profit organizations. John Irwin | Chair, Audit Committee John Irwin, retired, served as Chief Financial Officer (CFO), Chief Information Officer (CIO) and Vice-President of the Ivey Companies for the Richard Ivey School of Business. He was primarily responsible for Ivey’s financial organization, information technology, conference centres, main campus facilities, and global asset management in Hong Kong, Shanghai, Beijing, and Mumbai. Mr. Irwin holds a Bachelor’s Degree from Western University, as well as being a retired CPA-CGA. He was the project manager for the new $110 million Ivey Business School building. Mr. Irwin was a key player in Ivey’s strategic initiatives. He was responsible for the financial re-organization and privatization of business operations, expansion of the school’s operations in Asia, physical expansion and financing of Ivey’s Leadership Centres in London, Toronto, and Hong Kong. In addition to Mainstreet, Mr. Irwin previously was a member of the Board of Directors of Richard Ivey School of Business Foundation, Richard Ivey School of Business (Asia) Limited, RISB Ltd (Beijing), and the London Convention Centre. He currently serves as the Chair of Mainstreet’s Audit Committee.