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FOR IMMEDIATE RELEASE A ARTIS REIT ■ ARTIS UNVEILS BUSINESS TRANSFORMATION PLAN , ANNOUNCES BOARD CHAIR CHANGE , MANAGEMENT CHANGES AND A DISTRIBUTION INCREASE MARCH 10 , 2021 Artis defines value investing strategy with a goal of becoming an equity compounder ; Plan for monetization of Artis ' real estate assets to redeploy capital in active real estate capital markets investments , value - add real estate , and developments to drive significant value creation ; Ben Rodney is appointed Chair of the Board of Trustees ; Senior Management Changes : Samir Manji is appointed permanent CEO , Jaclyn Koenig is appointed CFO , and Kim Riley is appointed COO ; Frank Sherlock ( Executive Vice - President ) to retire ; An increase in common unitholder distributions to $ 0.60 per unit annually , representing a cumulative increase of 11.1 % since November 2020 ; and Artis ' Business Transformation Plan presentation is available at https://www.artisreit.com/investor link / investor - presentations / and virtual investor presentation will be held today at 10 AM Central Time ( see news release below for participation details ) . Artis Real Estate Investment Trust ( " Artis " or the " REIT " ) ( TSX : AX.UN , AX.PR.A , AX.PR.E , AX.PR.I ) is pleased to announce a business transformation plan that will shift Artis from a diversified real estate investment trust to an organization focused on growth in net asset value ( " NAV " ) per unit and distributions through value investing in real estate ( the " Business Transformation Plan ” ) . As part of the implementation of the Business Transformation Plan , changes in leadership and key management positions are announced as follows : Ben Rodney is appointed Chair of the Board of Trustees of the REIT ( the " Board " ) effective immediately ; Samir Manji is appointed Chief Executive Officer ( " CEO " ) effective immediately ; Jaclyn Koenig , Senior Vice - President of Accounting , is appointed Chief Financial Officer ( " CFO " ) to be effective following the retirement of Jim Green at the conclusion of the REIT's 2021 annual and special meeting of unitholders ( the " AGM " ) ; and Kim Riley , Executive Vice - President of Investments and Developments , is appointed Chief Operating Officer ( “ COO " ) ( a newly created position at Artis ) effective April 1 , 2021 . With these changes , Artis takes important steps towards the implementation and execution of the Business Transformation Plan and has promoted two senior leaders with impressive capabilities well suited to driving the future success of Artis . Further details are below under ' Senior Management Team Changes ' . Additionally , Frank Sherlock , Executive Vice - President , will be retiring effective June 30 , 2021 . 1