FCD.UN Firm Capital Property Trust

Firm Capital Property Trust ("FCPT" or the "Trust"), (TSX: FCD.UN) is pleased to announce the voting results from its Annual Meeting of unitholders ("Unitholders”) of Trust Units (“Units”) of the Trust held on June 23, 2023 (the “Meeting”).

All the matters put forward before Unitholders for consideration and approval as set out in the Trust's management information circular dated May 9, 2023 (the "Circular") were approved by the requisite majority of votes cast at the Meeting. In particular, Unitholders approved the election of all trustee nominees and the approval of RSM Canada LLP as the Trust's auditors. The board of trustees of the Trust is now comprised as follows:

Nominee	Votes "For"	% Votes "For"	Votes "Withheld"	% of Votes "Withheld"
Geoffrey Bledin	5,655,003	98.924%	61,488	1.076%
Eli Dadouch	4,853,960	84.912%	862,531	15.088%
Stanley Goldfarb	5,658,272	98.982%	58,219	1.018%
Jonathan Mair	4,823,198	84.373%	893,293	15.627%
Robert McKee	4,822,248	84.357%	894,243	15.643%
Sandy Poklar	4,812,449	84.185%	904,042	15.815%
Lawrence Shulman	5,626,535	98.426%	89,956	1.574%
Howard Smuschkowitz	5,649,897	98.835%	66,594	1.165%
Manfred Walt	5,659,147	98.997%	57,344	1.003%
Victoria Granovski	4,810,074	84.144%	906,417	15.856%
Jeffrey Goldfarb	5,620,960	98.329%	95,531	1.671%

* The number of votes disclosed reflects proxies received by management of the Trust in advance of the Meeting.

5,932,598 Units were represented by Unitholders in person or by proxy at the Meeting, representing approximately 16.029% of the total issued and outstanding Units at the record date for the Meeting. Full details of the voting results will be posted under the Trust's profile on www.sedar.com.

ABOUT FIRM CAPITAL PROPERTY TRUST (TSX : FCD.UN) Firm Capital Property Trust is focused on creating long-term value for Unitholders, through capital preservation and disciplined investing to achieve stable distributable income. In partnership with management and industry leaders, The Trust’s plan is to own as well as to co-own a diversified property portfolio of multi-residential, flex industrial, net lease convenience retail, and core service provider professional space. In addition to stand alone accretive acquisitions, the Trust will make joint acquisitions with strong financial partners and acquisitions of partial interests from existing ownership groups, in a manner that provides liquidity to those selling owners and professional management for those remaining as partners. Firm Capital Realty Partners Inc., through a structure focused on an alignment of interests with the Trust sources, syndicates and property and asset manages investments on behalf of the Trust.

FORWARD LOOKING INFORMATION

This press release contains contain forward-looking statements within the meaning of applicable securities laws including, among others, statements associated with the opportunities that may be available to the Trust and statements regarding the business of the Trust. In some cases, forward-looking statements can be identified by the use of words such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", and by discussions of strategies that involve risks and uncertainties. The forward-looking statements are based on certain key expectations and assumptions made by the Trust. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Although management of the Trust believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that future results, levels of activity, performance or achievements will occur as anticipated. These statements are not guarantees and are based on our estimates and assumptions that are subject to risks and uncertainties, including those described in the Trust’s Annual Information Form for the year ended December 31, 2022 under “Risks and Uncertainties” (a copy of which can be obtained at www.sedar.com). Neither the Trust nor any other person assumes responsibility for the accuracy and completeness of any forward-looking statements, and no one has any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or such other factors which affect this information, except as required by law.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. Additional information about the Trust is available at www.firmcapital.com or www.sedar.com.

For further information, please contact:
Robert McKee	Sandy Poklar
President & Chief Executive Officer	Chief Financial Officer
(416) 635-0221	(416) 635-0221
For Investor Relations information, please contact:
Victoria Moayedi
Director, Investor Relations
(416) 635-0221