Housing Yield Unit NAV Update
Dear Housing Yield Unit (HYU) Holder,
Vancouver, B.C. — August 19, 2026 — the trustees of NAHF Real Estate Trust (“Trust”) are pleased to provide notice of a 2026 Q2 distribution for HY unitholders of the NAHF Real Estate Trust.
As of August 19, 2026, the trustees have declared a 2026 Q2 distribution of $0.134 per unit for holders of Housing Yield Units as of June 30th, 2026, who have not redeemed their investment.
Distribution payments will be issued and show up in unitholders’ bank accounts as well as registered investment accounts with Olympia Trust by August 31, 2026, and all DRIP participants will have additional units issued based on the current NAV of $10.46 as part of the August month-end unitholder registry update.
The trustees of the Trust are also pleased to provide notice that the net asset value (“NAV”) per Housing Yield Unit (HYU) has increased by $0.08 per unit, bringing the NAV for Housing Yield Units to $10.54, which will be the price offered for subscription or used for redemption from beginning September 1, 2026. The updated unit value applies to all HY Unit holders as of August 31, 2026.
What’s Driving This Change?
This quarter’s NAV increase was again driven by mortgage principal paydown on the Saanich Ridge and Five Crossings rental homes. While regional home prices showed some volatility during the quarter—ending about the same in March as in January—the built-in equity gain from regular mortgage amortization continued to accrue. This illustrates one of the unique strengths of the Housing Yield Unit structure: value can still grow through debt reduction, even when housing markets are flat or slightly declining.
High-Water Mark still in Effect
This is another NAV update where the high-water mark mechanism came into play. Because home prices in the region did not materially change, no market-driven appreciation was applied. The benchmark used going forward will still be the June 2025 home price index. Any future increases to NAV beyond mortgage paydown will only occur once market values exceed this benchmark.
Looking Ahead
The next NAV update is scheduled for December 1, 2026, and will reflect fiscal third-quarter of 2026 reporting for the Trust.
Contact
Investor Relations
George Lawton, Chief Executive Officer
North America Home Finance Inc.
9th Floor – 1021 West Hastings Street
Vancouver, BC V6E 0C3
Telephone: (604) 636-8505
Email: [email protected]
Website: www.nahomefinance.com
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities legislation. In some cases, forward-looking information can be identified by words or phrases such as “may”, “might”, “will”, “should”, “could”, “expect”, “anticipate”, “continue”, “plan”, “seek”, “estimate”, “indicate”, “believe”, “intend”, “project”, “potential”, “forecast”, “budget”, “target”, “goal”, “objective”, “schedule”, “is/are likely to” or the negative of these terms and other similar expressions intended to identify forward-looking information. The Trust has based the forward-looking information contained herein on its current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. The forward-looking information contained herein includes, among other things, statements relating to: the number of HomePlan agreements continues to grow as the program gains market recognition; the continued development of the Saanich Ridge development; the planned business activities and objectives of the Trust and the strategy by which it expects to achieve these objectives.
Such forward-looking information is based on a number of material factors and assumptions, including, but not limited to, expectations and assumptions relating to: results of planned development activities; the price of housing assets; the cost of identification, acquisition and development activities; that as the business continues to develop, there will be no changes that would materially adversely affect the business; that financing will be available if and when needed and on reasonable terms; that third-parties, supplies and governmental and other approvals required to conduct the business will be available on reasonable terms and in a timely manner; that there will be no revocation of adverse amendments to or delays in granting government approvals; that general business, economic, competitive, social, and political conditions will not change in a material adverse manner; and the assumptions underlying the Trust’s business model; other estimates, assumptions, and forecasts will be accurate. While the Trust considers these material factors and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Trust to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements and forward-looking information. Such risks include but are not limited to: HomePlan products are new and may be subject to regulation; HomePlan tenants may not qualify for mortgage financing; and the Trust may not achieve some or all of its business objectives. Given these uncertainties, readers are cautioned that forward-looking information included in this news release is not a guarantee of future performance, and such forward-looking information should not be unduly relied upon. More information about the risks and uncertainties affecting the Trust’s business can be found in its management’s discussion and analysis for the three and six months ended December 30, 2025, a copy of which is available under Trust’s profile on SEDAR+ at www.sedarplus.ca.
Although the Trust has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking information.
The forward-looking information contained in this news release is made as of the date hereof and, unless so required by applicable law, the Trust undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
Sincerely,
The NAHF Team
