Fairness Opinion

Duff & Phelps Served as an Independent Financial Advisor to the Board of Directors of Mohawk Medical REIT on Its Sale to a Subsidiary of Invesque, Inc.

Mohawk Medical Properties Real Estate Investment Trust and Mohawk Medical Operating Partnership (I) LP (collectively, "Mohawk") have been acquired by a wholly owned subsidiary of Invesque, Inc. ("Invesque"; TSX MKT: IVQ.U). The transaction involved the exchange of the outstanding Class A Units and Class A, Series 2 Units for common shares of Invesque through a plan of arrangement involving, Mohawk, Invesque and the holders of the Units (the "Unitholders"). The transaction was approved by more than 98% of the Unitholders. A final order of the Court of Queen's Bench of Alberta, Canada was then received prior to the transaction's closing in May 2018.

Duff & Phelps served as independent financial advisor to Mohawk and the respective Boards of the REIT and the Partnership to determine the fairness of the consideration to be received by the Unitholders and assisted Mohawk with the Information Circular filed with the Court. Dentons LLP served as legal advisor to Mohawk.

About Mohawk
Prior to the transaction, Mohawk was a Toronto, Canada-based REIT owning and operating 14 multi-tenant medical office properties in Canada and the United States. Mohawk was formed in 2012 by Andrew Shapack and Sean Nakamoto, veterans of GT Canada Medical Properties REIT, Northwest Healthcare Properties and TD Securities Real Estate. The firm engaged in acquisition, property management and asset management of medical office buildings.

About Invesque
Invesque, Inc. is a healthcare real estate company operating a growing portfolio of senior living, long term care facilities and, with the strategic acquisition of Mohawk, medical office properties in the U.S. and Canada.

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