KINGSTONE Real Estate (“KINGSTONE RE”), an investment manager based in Munich, and Fiera Real Estate, an affiliate of Fiera Capital Corporation (“Fiera Capital”) (TSX: FSZ), a global asset manager headquartered in Montreal, will enter into a collaborative venture. The objective is to open up the Canadian real estate market for German investors. To this end, KINGSTONE RE will handle share sales to German investors and manage their accounts. The company will focus on superannuation schemes and insurance companies, among other investors. These will be able to acquire shares in target strategies of Fiera Real Estate via institutional strategies yet to be launched in Luxembourg. Fiera Real Estate has approximately CAD 11.6 billion in real assets under management (“AuM”) (as of 31st March 2025). Globally, Fiera Capital has approximately CAD 161.6 billion in AuM (as of 31st March 2025) and more than 800 employees on its payroll (as of 31st March 2025). The first target strategy is the Fiera Real Estate CORE Strategy, an open-ended core investment vehicle with approximately CAD 5 billion in AuM that focuses on logistics, residential, office and retail real estate. Going forward, there will be an option to buy into other Canadian target strategies of Fiera Real Estate as add-on investment. Dr. Tim Schomberg, CEO and co-founder of KINGSTONE RE, commented: “As an internationally active enterprise, collaborating with a major and well-established partner like Fiera Real Estate is an important milestone for us. The collaboration combines our European structuring and fundraising competency with the Canadian market and real estate know-how of Fiera Real Estate.” Wenzel Hoberg, Global Head of Real Estate at Fiera Real Estate, said: “Canada stands out as one of the world’s most stable and attractive real estate markets, supported by strong demographics, a predictable regulatory environment, and political stability. Cities like Toronto and Vancouver continue to see some of the fastest population growth in North America, driving long-term demand across key asset classes. Through this partnership with KINGSTONE RE, we’re opening the door for German investors to access these opportunities through our proven Canadian strategies.” Friedrich von Carlowitz, Managing Director of the subsidiary KINGSTONE Capital Advisory GmbH and responsible for the fundraising, added: “In addition to many macroeconomic arguments that unambiguously speak in favour of Canada, we were equally impressed by Fiera Real Estate and its outstanding track record. The Fiera Real Estate CORE Strategy outperformed the MSCI/REALPAC Canada Quarterly Property Fund Index in 40 out of 46 quarters as of 31st March – notably as a result of stable rental income and active asset management.” Alain Meyer, Managing Director, Head of Dach at Fiera Capital, commented: "We are delighted to provide German investors with access to our Canadian real estate strategies through this collaboration with KINGSTONE RE. Investor appetite for resilient, income-generating real estate remains strong, and our proven track record across Canada’s most robust asset classes, particularly logistics, residential and offices, positions us well to meet that demand. Partnering with KINGSTONE RE is a natural fit given their strong reputation and deep understanding of the German institutional market." Photo: Wenzel Hoberg, Copyright: Fiera Real Estate, Friedrich von Carlowitz, Copyright: KINGSTONE RE, Alain Meyer, Copyright: Fiera Capital and Dr. Tim Schomberg, Copyright: KINGSTONE.