Slide 1: Investor Presentation Q2 2026
Investor Presentation Q2 2026
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT Forward – Looking Information Certain statements contained herein constitute “forward-looking statements” as such term is used in applicable Canadian securities laws. These statements relate to analysis and other information based on forecasts of future results, estimates of amo
Slide 3: Why Invest in Mainstreet?
Why Invest in Mainstreet? 26 years of organic double-digit growth with limited equity dilution (Annual Growth 2000 – 2026) Since being listed on TSX The Mainstreet Opportunity Great capital allocator to maximize Accelerated Organic Growth • Acquisition pipeline & $46M NOI gap shareholder value with
Slide 4: Mainstreet Growth
Mainstreet Growth Turning unused or residual space within Exploring zoning and density relaxations to Subdividing residual lands for future existing buildings into new units potentially build new capacity within existing land developments footprints Accelerated Strong Land Bank & Condo Organic Balan
Slide 5: Mainstreet Fundamentals
Mainstreet Fundamentals A solid performer, continued organic non- YTD total apartment suites owned 19,292* dilutive growth since inception Including 50 condo units held for resale, 10 vacant lands and 7 commercial buildings • Aligned shareholder interest: director and management ownership around 49%
Slide 6: Our Value Chain Business Model
Our Value Chain Business Model How does Mainstreet achieve its solid performance? Acquisitions Iden tify and buy under-performing Q2 2026 = 17,473 rental units at prices well below Acquisitions replacemen t costs • Identify and buy under-performing rental units at prices well below replacement costs
Slide 7: Apartment Business Driver
Apartment Business Driver Existing rental apartments trading $$$ significantly below replacement cost Replacement Cost Management believes • Current market rents do not justify new construction due to high costs $ • Increasing demand and limited supply will continue to create favorable rental mar
Slide 8: Apartment Demand
Apartment Demand Population Growth: 11,748 (2025) [15% of total rental universe] Winnipeg Rental Universe: 78,860 (2025) Mid-market: 50,575 (64%) (2025) Vacancy Rate: 2.8% (2025) Population Growth: 8,709 (2025) [44% of total rental universe] Saskatoon Rental Universe: 19,692 (2025) Mid-market: 15,98
Slide 9: Apartment Demand
Apartment Demand Population Growth: 2,314 (2025) ) [32% of total rental universe] Red Deer Rental Universe: 7,152 (2025) Mid-market: 6,927 (97%) (2025) Vacancy Rate: 3.2% (2025) Population Growth: N/A Surrey Rental Universe: 8,201 (2025) Mid-market: 5,355 (65%) (2025) Vacancy Rate: 4.3% (2025) Popul
Slide 10: Apartment Demand
Apartment Demand Population Growth: 71 (2025) [3% of total rental universe] Penticton Rental Universe: 2,622 (2025) Mid-market: 2,622 (100%) (2025) Vacancy Rate: 2.6% (2025) Population Growth: 357 (2025) [18% of total rental universe] Vernon Rental Universe: 2,007 (2025) Mid-market: 2,007 (100%) (20
Slide 11: Mainstreet Fundamentals
Mainstreet Fundamentals Mainstreet’s strategy benefits from a large target market with less City Target Markets Rental Apartment Universe <100 Units/Buildings Total Rental Universe % Mid-Market competition Winnipeg 50,575 78,860 64% Saskatoon 15,986 19,692 81% Regina Calgary 14,763 38,390 16,063 67,
Slide 12: Potential Target Market Growth
Potential Target Market Growth Estimated Potential Rental Apartment Total Mid-Market Share Potential Target Market Growth 19,292 23,062 25,625 28,187 30,749 33,312 35,874 38,437 40,999 43,562 46,124 48,687 51,249 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% Numbers obtained from CMHC, the poten
Slide 13: A 'Value Creation' Company
A ‘Value Creation’ Company Organic Non-Dilutive Growth ( by Unit ) Significant growth with limited equity dilution (YTD) 25,000 Since being listed on TSX 10000000 • Listed on the TSX in 2000, Mainstreet has grown its portfolio from 272 units with 20,000 a market value of $17M to 19,292 units (YTD) w
Slide 14: A 'Value Creation' Company
A ‘Value Creation’ Company 20000000 Organic Non-Dilutive Growth ( by Appraised Value ) 3,842 3,731 Asset Growth ($M) Since Listed on TSX 3,500 3,407 10000000 3,000 3,051 2,818 0 12Years $1 Billion 2,500 2,616 16% CAGR 7 Years $2 Billion 2,183 2,000 -10000000 2,020 (Up to 2026 IFRS Value) 1,866 1,500
Slide 15: Diversified Portfolio
Diversified Portfolio BC AB SK MB British Columbia Alberta Saskatchewan Manitoba 4,423 Units 10,740 Units 3,635 Units 405 Units $1,210M $2,066M $517M $49M 31% 54% 14% 1% $3.84B IFRS Value Q2 2026 BC NAV based on IFRS value is 43% Q2 2026 15
Slide 16: 2026 Drivers: NOI Catch Up
2026 Drivers: NOI Catch Up Stabilization of existing non-stabilized portfolio which equates to Annualized Current 5% Inflationary 9% of the total portfolio AdditionalNOI at Annualized Mark-to- Rate Adjustment 95% Occupancy Optimum Potential Market Gap on Operating Costs Rate Achieve Optimum Potentia
Slide 17: Apartment Business Driver
Apartment Business Driver (in 000s, except vacancy and suite counts) Our stabilized vacancy rate is 5.7% as at March 31, 2026 • Neither Alberta or Saskatchewan are subject to rent control legislation • In British Columbia, landlords are entitled to lease a suite to a new tenant at market rental rate
Slide 18: Debt Management
Debt Management Mortgage Maturity as at Mar 31st, 2026 $ millions CMHC insured mortgages 2026 • As at Mar 31, 2026, Mainstreet’s outstanding mortgage balance was $1,839M, of which 100% is CMHC insured (fixed) at an average interest rate of 3.12%. Long-term fixed interest mortgages • 100% of Mainstre
Slide 19: Mainstreet Machine
Mainstreet Machine Q2 2026 19
Slide 20: Margins
5 Pillar Competitive Advantage Statement Acquire under-performing assets at attractive prices Limited to no competition from REITs and Pension Funds in the mid-market sector Internalized construction capabilities Margins Internalized operations platform / systems are scalable Internalized marketing
Slide 21: Mainstreet 'Spec'
Mainstreet ‘Spec’ SUITE INTERIORS Tile & wood lamina te flooring SECURITY Fresh, low – VO C paint Property security cameras* Venetian blinds Enhanced ext erior door security Upgra ded light fixtures Upgra ded intercom syst ems Upgra ded elect rical out let s Ne w door a nd closet hardware BRANDED IT
Slide 22: Mainstreet: Adding Value
Mainstreet: Adding Value Mainstreet Tower - Edmonton Mainstreet Estates - Surrey Improve NOI from Improve NOI from $1,543k to $3,493k $69k to $2,340k Sunalta 1913 - Calgary Mainstreet 1310 - Saskatoon Improve NOI from Improve NOI from (-$135k) to $224k (-$223k) to $327k Q2 2026 22
Slide 23: Mainstreet: Adding Value
Mainstreet: Adding Value Saskatoon 1310, Saskatoon Bow River Townhomes, Calgary Improve NOI from Improve NOI from $1,543k to $3,493k $69k to $2,340k Avenue Tower, Calgary Queen’s Park Townhomes, Calgary Improve NOI from Improve NOI from (-$135k) to $224k (-$223k) to $327k Q2 2026 23
Slide 24: Mid-Market Efficiencies
Mid-Market Efficiencies Higher operating margins versus larger concrete complexes Low rise properties have relatively less operating expenses such as: • Limited or no elevator maintenance • No repairs to, heating or maintenance of underground parking garage • Amenities Lower realty taxes versus larg
Slide 25: Operating Efficiencies
Operating Efficiencies Expense reduction 1. Mainstreet’s aggressive renovation program has resulted in significant expense reductions in key areas such as: • Electrical (install compact fluorescent bulbs: LED bulbs for emergency exit signs) • Water (‘Ultra-high efficiency’ toilets; low-flow aerators
Slide 26: Clustering Strategy
Clustering Strategy By clustering assets, Mainstreet maximizes efficiencies and growth, transforming a single asset into a network of apartment complexes Abbotsford Calgary Edmonton We achieved this through: • Clustering assets within a 5 block radius • Requiring fewer resident managers leading to r
Slide 27: Edmonton ICE District Strategy
Edmonton ICE District Strategy 171 NA IT Properties 6,382 Ro xy Theatre Br ewery Ol iver M acEwan Roger’s District Square U niversity Arena Apartments M ainstr e Valley et Tower Art Gallery Wes NorQu est College Stan tec Tower of Alberta t LRT Shaw Convention Line Centre LRT Metro Line Continued Exp
Slide 28: Townhouse & Condo Conversion Value
Townhouse & Condo Conversion Value Condominium conversion Alberta Townhouses Condo Spec The opportunity exists to convert the • Queen’s Park – Calgary Crescent Heights View – Calgary existing portfolio into condominiums, • Trevella Park – Calgary in particular for the following townhouse complexes i
Slide 29: ESG
ESG Risk Management Environmental Consultation Health & Safety • Audit Committee • Committed to implementing best environmental practices suggested • Competitive employee health benefits • Whistle Blower Policy by independent environmental consultants • Enhanced Covid protocols for employees and res
Slide 30: Value-Add Case Studies
Value-Add Case Studies Vancouver Lower Mainland (Surrey), BC Mainstreet Estates Edmonton, AB Mainstreet Estates Calgary, AB Huntsville Saskatoon, SK West Meadow Q2 2026 30
Slide 31: Value-Add Model: Mainstreet Estates, Surrey, BC
Value-Add Model: Mainstreet Estates, Surrey, BC Mainstreet purchased the above property (331 units with 5 buildings) in January 2015. It took approximately 6 months to complete the stabilization process; we financed the property in November 2016. Financial results for the property before and after s
Slide 32: Value-Add Model: Mainstreet Park, Edmonton, AB
Value-Add Model: Mainstreet Park, Edmonton, AB Mainstreet purchased the above property (178 units) in August 2016. It took approximately 12 months to complete the stabilization process; we financed the property in November 2017. Financial results for the property before and after stabilization and f
Slide 33: 2026 Acquisitions
2026 Acquisitions Address City Province Acquisition Date Total Unit Purchase Price ( CAD ) Appraised Value Price Per Door 423 1 Ave NE Calgary AB 10/31/2025 12 $ 2,300,000 $ 2,312,652 $ 191,667 1519 11 Ave SW Calgary AB 10/31/2025 10 $ 1,999,990 $ 2,008,183 $ 199,999 606 58 Ave SW Calgary AB 12/1/20
Slide 34: 2025 Acquisitions
2025 Acquisitions Address City Province Acquisition Date Total Unit Purchase Price ( CAD ) Appraised Value Price Per Door 33941 Essendene Ave Abbotsford BC 11/15/2024 25 $ 4,475,000 $ 4,704,772 $ 179,000 1231 15 Ave SW Calgary AB 12/9/2024 43 $ 7,800,000 $ 8,014,461 $ 181,395 3858 Austin Rd West Pri
Slide 35: 2024 Acquisitions
2024 Acquisitions Address City Province Acquisition Date Total Unit Purchase Price ( CAD ) Appraised Value Price Per Door 12151 224 St Maple Ridge BC 10/30/2023 89 $ 18,050,000 $ 17,937,674 $ 202,809 202-238 Fairmont Drive Saskatoon SK 11/1/2023 222 $ 21,644,000 $ 28,590,000 $ 97,495 303 23 Ave SW C
Slide 36: 2024 Acquisitions-continued
2024 Acquisitions-continued Address City Province Acquisition Date Total Unit Purchase Price ( CAD ) Appraised Value Price Per Door 9430 Nowell St Chilliwack BC 6/20/2024 29 $ 4,506,992 $ 4,712,299 $ 155,414 9545 College St Chilliwack BC 6/20/2024 16 $ 2,492,539 $ 2,623,362 $ 155,784 9482 Williams S
Slide 37: 2023 Acquisitions
2023 Acquisitions Address City Province Acquisition Date Total Unit Purchase Price ( CAD ) Appraised Value Price Per Door 1737 26 Ave SW Calgary AB 10/17/2022 12 $ 1,820,000 $ 2,790,000 $ 151,667 1711 10 ST SW Calgary AB 11/1/2022 16 $ 2,364,000 $ 3,720,000 $ 147,750 1608 16 ST SW Calgary AB 11/1/20
Slide 38: 2023 Acquisitions-continued
2023 Acquisitions-continued Address City Province Acquisition Date Total Unit Purchase Price ( CAD ) Appraised Value Price Per Door 323 17 AVE SW CALGARY AB 7/4/2023 3 $ 3,565,000 $ 3,620,000 $ 1,188,333 10707 111 Street NW Edmonton AB 9/11/2023 31 $ 3,193,000 $ 5,020,000 $ 103,000 10630 111 Street
Slide 39: 2022 Acquisitions
2022 Acquisitions Address City Province Acquisition Date Total Unit Purchase Price ( CAD ) Appraised Value Price Per Door 10519 99 Avenue NW Edmonton AB 11/30/2021 1 $ 457,456 $ 580,000 $ 457,456 9711 104 Street NW Edmonton AB 11/30/2021 10 $ 395,997 $ 800,000 $ 39,600 9745 106 Street NW Edmonton AB
Slide 40: 2022 Acquisitions-continued
2022 Acquisitions-continued Address City Province Acquisition Date Total Unit Purchase Price ( CAD ) Appraised Value Price Per Door 234 21 Avenue SW Calgary AB 2/1/2022 16 $ 2,500,000 $ 3,810,000 $ 156,250 111 & 117 24 Avenue SW Calgary AB 2/4/2022 32 $ 5,120,000 $ 7,410,000 $ 160,000 1726 7 Street
Slide 41: 2021 Acquisitions
2021 Acquisitions Address City Province Acquisition Date Total Unit Purchase Price ( CAD ) Appraised Value Price Per Door 196 Yew St KAMLOOPS BC 10/20/2020 18 $ 2,300,000 $ 3,890,000 $ 127,778 3525 Avonhurst Drive Regina SK 11/16/2020 72 $ 7,459,000 $ 11,320,000 $ 103,597 314 Broadway Winnipeg MB 12
Slide 42: 2021 Acquisitions-continued
2021 Acquisitions-continued Address City Province Acquisition Date Total Unit Purchase Price ( CAD ) Appraised Value Price Per Door 11310 109 Ave NW Edmonton AB 6/25/2021 112 $ 10,640,000 $ 14,590,000 $ 95,000 1205 Fourth Avenue New WestminsterBC 7/22/2021 33 $ 6,600,000 $ 9,920,000 $ 200,000 46109
Slide 43: Appendix
Appendix He 02 2026 TSXK:MEQ Mainstreet
Slide 44: Governance - The CEO
Governance - The CEO Bob Dhillon | Founder, President & CEO • Bob Dhillon is Founder, President & CEO of Mainstreet Equity Corp., a publicly traded real estate corporation on the Toronto Stock Exchange (TSX:MEQ). Based in Calgary, Alberta, Canada, as at Q4 2025, assets are valued at CDN$3.7B+ with 1
Slide 45: Governance - The Management Team
Governance - The Management Team Johnny Lam • Johnny joined Mainstreet as Chief Financial Officer when the company went public in 1998. A founding team member, Johnny brings over 30 years of senior management experience in Asia, the UK, Australia, and North America. Before coming to Mainstreet, he s
Slide 46: Governance - The Management Team
Governance - The Management Team Trina Cui | Chief Financial Officer • Trina Cui is Mainstreet’s Chief Financial Officer, responsible for the complete financial oversight of the company including external and internal reporting, capital allocation, business performance management, commercial managem
Slide 47: Governance - The Board
Governance - The Board Joe Amantea | Executive Committee • Joe Amantea is a senior associate with the law firm Warren Benson Amantea LLP in Calgary, Alberta. Mr. Amantea has more than three decades of experience in real estate, multi-family acquisitions, construction law, foreclosures and corporate/
Slide 48: Governance - The Board
Governance - The Board John Irwin | Chair, Audit Committee, Safety Committee • John Irwin, retired, served as Chief Financial Officer (CFO), Chief Information Officer (CIO) and Vice-President of the Ivey Companies for the Richard Ivey School of Business. He was primarily responsible for Ivey’s finan