Alaris Equity Partners Income Trust announced that it has entered into an agreement with a syndicate of underwriters led by CIBC Capital Markets, National Bank Financial and RBC Capital Markets pursuant to which the underwriters have agreed to purchase CAD 65 million aggregate principal amount of listed senior unsecured debentures due March 31, 2027 at a price of CAD 1,000 per Debenture. The Trust has also granted the Underwriters an option to purchase up to an additional CAD 9.75 million aggregate principal amount of Debentures, on the same terms and conditions, exercisable in whole or in part, up to 30 days following closing of the Offering. The Offering is expected to close on or about February 4, 2022.

The Trust intends to use the net proceeds of the Offering to partially repay outstanding indebtedness under Alaris' subsidiary's senior debt facility which may be subsequently redrawn and used to fund future investments in new Partner investments or general trust purposes. The Debentures will bear interest at a rate of 6.25% per annum, payable semi-annually in arrears on the last business day of March and September of each year commencing on March 31, 2022. The first payment will include accrued and unpaid interest for the period from the Closing Date to, but excluding, March 31, 2022.

The Debentures will mature on March 31, 2027. The Debentures will not be redeemable by the Trust before March 31, 2025. On and after the First Call Date and prior to March 31, 2026, the Debentures will be redeemable, in whole or in part, from time to time at the Trust's option at a redemption price equal to 103.125% of the principal amount of the Debentures redeemed plus accrued and unpaid interest, if any, up to but excluding the date set for redemption.

On and after March 31, 2026 and prior to the Maturity Date, the Debentures will be redeemable, in whole or in part, from time to time at the Trust's option at par plus accrued and unpaid interest, if any, up to but excluding the date set for redemption. The Trust shall provide not more than 60 nor less than 30 days' prior notice of redemption of the Debentures. The Trust has the option to satisfy its obligations to repay the principal amount of and premium (if any) on the Debentures due at redemption or on maturity of the Debentures by issuing and delivering that number of freely tradeable trust units of the Trust to Debenture holders in accordance with the terms of the Indenture.

A preliminary short form prospectus will be filed with securities regulatory authorities in all provinces of Canada, other than the province of Québec. The Offering is subject to customary regulatory approvals, including the approval of the Toronto Stock Exchange and the approval of the lenders under the Senior Debt Facility.