TII Terra Firma Capital Corp

On May 27, 2021, Terra Firma Capital Corporation (TSX-V: TII) ("Terra Firma"), a real estate finance company, filed and mailed to applicable shareholders, a notice of annual meeting of shareholders (the “Notice”). Subsequent to such filing and mailing, Terra Firma identified an inadvertent error in the Notice in that it specified that the annual meeting of shareholders (the “Meeting”) will be held June 23, 2020 and that any registered shareholder wishing to be represented by proxy at the Meeting or any adjournment thereof must have deposited their duly executed form of proxy not later than 2:00pm (Toronto time) on June 21, 2020. In fact, the Meeting will be held on the June 23, 2021 (at 2:00pm (Toronto time) at 22 St. Clair Avenue East, Suite 200, in Toronto, Ontario) and any registered shareholder wishing to be represented by proxy at the Meeting or any adjournment thereof must have deposited their duly executed form of proxy not later than 2:00 p.m. (Toronto time) on June 21, 2021.

The corrected Notice has been filed and is available under the Terra Firma’s profile on SEDAR (www.sedar.com).

About Terra Firma

Terra Firma is a full service, publicly traded real estate finance company that provides real estate financings secured by investment properties and real estate developments in Canada and throughout the United States. Terra Firma focuses on arranging and providing financing with flexible terms to real estate developers and owners who require shorter-term loans to bridge a transitional period of one to five years where they require capital at various stages of development or redevelopment of a property. These loans are typically repaid with lower cost, longer-term debt obtained from other Canadian financial institutions once the applicable transitional period is over or the redevelopment is complete or from proceeds generated from the sale of the real estate assets. Terra Firma offers a full spectrum of real estate financing under the guidance of strict corporate governance, clarity and transparency. For further information, please visit Terra Firma's website at www.tfcc.ca.

For further information, please contact:

Terra Firma Capital CorporationGlenn WatchornChief Executive OfficerPhone: 416.792.4702gwatchorn@tfcc.ca

or

Terra Firma Capital CorporationY. Dov MeyerExecutive ChairmanPhone: 416.792.4709ydmeyer@tfcc.ca

or

Ali MahdaviManaging DirectorSpinnaker Capital Markets Inc.Phone: 416.962.3300am@spinnakercmi.com