Flagship Communities Real Estate Investment Trust Releases 2023 ESG Report

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TORONTO, May 01, 2024 (GLOBE NEWSWIRE) -- Flagship Communities Real Estate Investment Trust ("Flagship" or the "REIT") (TSX: MHC.U; MHC.UN) today published its fourth Environmental, Social and Governance ("ESG") Report (the "Report"). The Report showcases the REIT's ongoing commitments to resident well-being, ethical corporate governance, energy efficiency, community service, and more.

"We are excited to share our fourth annual ESG Report, which demonstrates our commitment to sustainability for our residents, our communities, and our environment," said Kurt Keeney, Chief Executive Officer. "We continue to take purposeful steps to drive environmental and community-based value that builds on our already sustainable mission statement: to provide everyday American families with affordable living opportunities."

The Report contains standard disclosures from the Global Reporting Initiative ("GRI") Sustainability Reporting Standards, prepared largely in accordance with the Core option and considers the reporting framework outlined by the Sustainability Accounting Standards Board ("SASB"). It can be found on the REIT's website at
https://flagshipcommunities.com/wp-content/uploads/2023_esg_report_flagship_communities_reit.pdf.

In 2023, Flagship continued to dedicate significant resources to providing residents with a best-in-class, affordable, and environmentally responsible living experience. The REIT was the recipient of three of the Manufactured Housing Institute's highest national awards for excellence in manufactured housing, including Land Lease Community Operator of the Year, Retail Sales Center of the Year, and Community Impact of the Year. Flagship also earned the Kentucky Manufactured Housing Institute's highest award for Community of the Year in 2023 for Mosby's Pointe, a 251-lot community located in Northern Kentucky.

About Flagship Communities Real Estate Investment Trust

Flagship Communities Real Estate Investment Trust is a leading operator of affordable residential Manufactured Housing Communities primarily serving working families seeking affordable home ownership. The REIT owns and operates exceptional residential living experiences and investment opportunities in family-oriented communities in Kentucky, Indiana, Ohio, Tennessee, Arkansas, Missouri, and Illinois. To learn more about Flagship, visit www.flagshipcommunities.com.

For further information, please contact:

Eddie Carlisle, Chief Financial Officer
Flagship Communities Real Estate Investment Trust
Tel: +1 (859) 568-3390