Dream Impact Trust (MPCT) AGM 2025 summary

Opening remarks and agenda

• Michael Cooper chaired the meeting in place of the Chairman, outlined the formal agenda, and confirmed the presence of a quorum for official business.

• Rob Hughes was appointed as secretary, and scrutineers were named to oversee voting.

Board and executive committee updates

• Five trustees were nominated and elected for the upcoming term: Omar Balia, Katherine Brownstein, Rob Goodall, Jennifer Lee Koss, and Corinne McIndough.

• PricewaterhouseCoopers LLP was reappointed as auditor for the ensuing year, with the board authorized to fix their remuneration.

Financial performance review

• Ended the year with over CAD 680 million in total assets, with a growing focus on multifamily assets.

• Generated CAD 19 million in recurring NOI in 2024, with 2,700 multifamily units in the portfolio and 40% in lease-up.

• Completed 445 multifamily units and 550 condo units, paying down over CAD 100 million in construction debt.

• Asset dispositions and legacy investments generated over CAD 43 million in proceeds.