*IMPORTANT INFORMATION: This communication is for information purposes only and is not, and under no circumstances is to be construed as, an invitation to make an investment in a fund distributed by Equiton Capital Inc. Equiton Residential Income Fund Trust (“Fund”) or with Equiton Capital Inc. Investing in the Fund’s Units involves risks. There is currently no secondary market through which the Fund Units may be sold and there can be no assurance that any such market will develop. Recipients of this document who are considering investing in the Fund are reminded that any such purchase must not be made on the basis of the information contained in this document but are referred to the Confidential Offering Memorandum, provided to you by the Fund (“Offering Memorandum”). A copy of the Offering Memorandum may be obtained upon request made to the attention of Equiton Capital Inc.  Private market investments differ significantly from public market investments and involve unique risks, including limited liquidity, longer investment horizons, and more complex structures. These factors may impact an investor’s ability to access capital or value their investment. The risks involved in this type of investment may be greater than those normally associated with other types of investments. Please refer to the Offering Memorandum for a further discussion of the risks of investing in the Fund. PAST PERFORMANCE MAY NOT BE REPEATED. Investing in the Fund Units can involve significant risks and the value of an investment may go down as well as up. There is no guarantee of performance. Certain statements herein may contain forward-looking information based on expectations, estimates and projections that involve risks and uncertainties which could cause actual results to differ materially from those anticipated. Returns for development offerings are paid upon project completion. Only investors who do not require immediate liquidity of their investment should consider a potential purchase of Units.