FREDERICTON, NB, July 23, 2026 /CNW/ — Plaza Retail REIT (“Plaza” or the “Trust”) (TSX: PLZ.UN) today announced the completion of a comprehensive request for proposal (“RFP”) process for external audit services. Following this process, Plaza’s Board of Trustees (the “Board”) has approved the appointment of Ernst & Young LLP (“EY”) as the Trust’s external auditor commencing with the quarter ending September 30, 2026. KPMG LLP (“KPMG”) will continue as Plaza’s external auditor through the completion of its review of the Trust’s consolidated interim financial statements for the quarter ending June 30, 2026.
In keeping with Plaza’s commitment to strong governance and oversight, the Audit Committee initiated the RFP in recognition of KPMG’s long tenure as the Trust’s external auditor. After a thorough evaluation, the Board, on the recommendation of the Audit Committee, selected EY based on its depth of expertise, qualifications, independence and audit approach. The Board notes that this appointment is the outcome of a planned and structured auditor review process undertaken by the Audit Committee in the ordinary course.
Plaza extends its sincere appreciation to KPMG for more than 22 years of service and for the professionalism and insight it has provided throughout its tenure as the Trust’s external auditor. At Plaza’s request, KPMG has resigned as external auditor effective on the first business day following the filing of the Trust’s consolidated interim financial statements for the quarter ending June 30, 2026. EY will be appointed the same day to fill the resulting vacancy and will serve until the Trust’s 2027 annual meeting of unitholders. At that meeting, Plaza intends to propose EY’s appointment as external auditor for the ensuing year.
KPMG has not expressed any modified opinion in its auditor’s reports on the Trust’s annual financial statements for either of the Trust’s two most recently completed fiscal years. There are no reportable events, including disagreements, consultations or unresolved issues, as such terms are defined in National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”), between the Trust and KPMG that have occurred in connection with the audits conducted for the two most recently completed fiscal years or in the interim financial information for the quarter ended March 31, 2026.
In accordance with NI 51-102, the notice of change of auditor, together with the required letters from KPMG and EY, has been reviewed by the Audit Committee and filed on SEDAR+.
ABOUT PLAZA
Plaza is an open-ended real estate investment trust and is a leading retail property owner and developer, focused on Ontario, Quebec and Atlantic Canada. Plaza’s portfolio at March 31, 2026 includes interests in 190 properties totaling approximately 8.8 million square feet across Canada and additional lands held for development. Plaza’s portfolio largely consists of open-air centres and stand-alone small box retail outlets and is predominantly occupied by national tenants with a focus on the essential needs, value and convenience market segments. For more information, please visit www.plaza.ca.
SOURCE Plaza Retail REIT