Terra Firma Capital Corporation has announced, subject to regulatory approval, the appointment of Mr. Mike Kirchmair as a member of the board of directors of the Corporation (the "Board"), effective January 31, 2023. Mr. Kirchmair is the Chief Financial Officer of Great Gulf Group and brings 30 years of experience in the real estate sector, both corporate and global. Mr. Kirchmair has a Chartered Professional Accountant designation and holds a Master of Business Administration from McMaster University.

Additionally, Terra Firma announced the departure of Mr. Jerry Patava, Director of Great Gulf Group, as a member of the Board, effective January 31, 2023. Mr. Patava joined the Terra Firma Board of Directors in 2017. Along with being a member of the Board, Mr. Patava served as the Investment Committee Chair and as a Governance, Compensation and Nomination Committee member.

During his time with Terra Firma, Mr. Patava made many contributions to the success and growth of the Corporation through his extensive real estate and finance experience. Both Mr. Patava and Mr. Kirchmair are representatives of Great Gulf Group, one of North America's larger real estate developers, in addition to being a shareholder of Terra Firma.