Allied Properties Real Estate Investment Trust ("Allied") announced that it will implement key elements of its board renewal and succession plan at its next Annual General Meeting, which is scheduled for May 2, 2023. The key elements are outlined below: Michael Emory, Allied's Founder, will step down as President, become Executive Chair and contribute to the business on a full-time basis going forward with primary focus on vision, strategy and culture; Cecilia Williams, Allied's Executive Vice President & CFO since 2015, will be promoted to President and become a Trustee, having taken on progressively greater responsibility for the formation and execution of Allied's strategy over the past five years; Tom Burns will step down as Executive Vice President & COO, become a Trustee and contribute to the business as a part-time consultant going forward; Nanthini Mahalingam, Allied's Senior Vice President, Finance and Accounting since 2021, will be promoted to Senior Vice President; Jennifer Tory will become Lead Trustee; having served as Trustee and Chair since Allied's formation, Gordon Cunningham will retire at the end of his current term; and having served as Trustee since Allied's formation and Chair of the Audit Committee since 2006, Gerald Connor will retire at the end of his current term.