CLARKE INC. ANNOUNCES SENIOR EXECUTIVE LEADERSHIP CHANGES

CLARKE INC. ANNOUNCES SENIOR EXECUTIVE LEADERSHIP CHANGES

HALIFAX, NS, July 8, 2026 /CNW/ - Clarke Inc. (the "Company" or "Clarke") (TSX: CKI) today announced senior executive leadership changes for Clarke and its wholly-owned subsidiaries, Ravelin Properties REIT ("Ravelin") and Holloway Lodging Corporation ("Holloway"). As the Company integrates its newly acquired commercial real estate portfolio, these leadership changes are designed to place the right leaders in the right roles, empower them with greater responsibility and decision-making authority, and provide the operational focus needed to maximize the performance of Clarke's residential, hotel and commercial real estate portfolios.

• Tom Casey was promoted from Chief Financial Officer to President of Clarke, effective July 8, 2026.
• George Armoyan has stepped down as President while remaining in his current roles as Chairman and Chief Executive Officer of Clarke, effective July 8, 2026.
• Steve Cyr was promoted from Vice President, Accounting to Chief Financial Officer of Clarke, effective July 8, 2026.
• Tom Casey and Steve Darrow were appointed as Co-Chief Executive Officers of Ravelin and will jointly oversee the leadership, operations, and strategic direction of the company.
• Robert Sherman was promoted from Chief Operating Officer to President and Chief Operating Officer of Holloway.
• David Shahinian and Martin Pham have joined the Company as Executive Vice Presidents, U.S. Real Estate. They will oversee the Company's Chicago portfolio and lead any future real estate investment activities across the United States.

"On behalf of the Company's board of directors and management team, we would like to congratulate the entire team on their new and expanded roles within the Company and look forward to working closely with each of them to deliver on our commitment of generating long-term shareholder value," commented George Armoyan, Chairman and Chief Executive Officer of Clarke.

NOTE ON FORWARD-LOOKING STATEMENTS AND RISKS

This press release may contain or refer to certain forward-looking statements relating, but not limited, to the Company's expectations, intentions, plans and beliefs with respect to the Company. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "does not expect", "is expected", "budgets", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "believes", or equivalents or variations of such words and phrases, or state that certain actions, events or results, "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Forward-looking statements include, without limitation, those with respect to the anticipated management changes for Clarke and Ravelin and the Company's ability to generate long-term shareholder value. Forward-looking statements rely on certain underlying assumptions that, if not realized, can result in such forward-looking statements not being achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the Company's investment strategy, legal and regulatory risks, general market risk, potential lack of diversification in the Company's investments, interest rates, foreign currency fluctuations, the sale of Company assets, the expectation that the Company's redeployment of capital from its asset dispositions, renovations and repurposes will be accretive to the Company's shareholders, the anticipated timing for completion of the Company's construction projects and renovations, reliance on key executives and the factors described under "Risks and Uncertainties" in the Company's annual information form for the year ended December 31, 2025, available under the Company's issuer profile on SEDAR+ at www.sedarplus.ca.

Although the Company has attempted to identify important factors that could cause actions, events or results not to be as estimated or intended, there can be no assurance that forward-looking statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Other than as required by applicable Canadian securities laws, the Company does not upda te or revise any such forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. Accordingly, readers should not place undue reliance on forward-looking statements.

ABOUT CLARKE

Clarke is real estate company with holdings across real estate sectors – primarily commercial, residential and hospitality. Clarke's common shares (CKI) trade on the Toronto Stock Exchange. For more information about Clarke, please visit our website at www.clarkeinc.com.

SOURCE Clarke Inc.