Artis Real Estate Investment Trust announced a business transformation plan that will shift Artis from a diversified real estate investment trust to an organization focused on growth in net asset value per unit and distributions through value investing in real estate. As part of the implementation of the Business Transformation Plan, changes in leadership and key management positions are announced as follows: Ben Rodney is appointed Chair of the Board of Trustees of the REIT effective immediately; Samir Manji is appointed Chief Executive Officer effective immediately; Jaclyn Koenig, Senior Vice-President of Accounting, is appointed Chief Financial Officer to be effective following the retirement of Jim Green at the conclusion of the REIT's 2021 annual and special meeting of unitholders; and Kim Riley, Executive Vice-President of Investments and Developments, is appointed Chief Operating Officer effective April 1, 2021. With these changes, Artis takes important steps towards the implementation and execution of the Business Transformation Plan and has promoted two senior leaders with impressive capabilities well suited to driving the future success of Artis. Further details are below under `Senior Management Team Changes'. Additionally, Frank Sherlock, Executive Vice-President, will be retiring effective June 30, 2021.