Mr. Brian Pauls reports

DREAM INDUSTRIAL REIT FILES FINAL BASE SHELF PROSPECTUS AND RENEWS AT-THE-MARKET PROGRAM

Dream Industrial REIT has filed and obtained a receipt for a final base shelf prospectus. The shelf prospectus is valid for a 25-month period, during which time the trust may offer and issue, from time to time, units, subscription receipts and debt securities, which may include debt securities convertible into or exchangeable for units of the trust, or any combination thereof.

The trust has also renewed its at-the-market equity program that allows the trust to issue up to $250-million of units from treasury to the public from time to time, at its discretion. The trust intends to use the net proceeds from the ATM program, if any, for future property acquisitions, development and redevelopment opportunities, repayment of indebtedness, and for general trust purposes.

In connection with the renewal of the ATM program, the trust has entered into an equity distribution agreement dated Sept. 5, 2023, with TD Securities Inc. Any units sold in the ATM program will be distributed through the Toronto Stock Exchange or any other permitted marketplace. The volume and timing of distributions under the ATM program, if any, will be determined at the trust's sole discretion. The ATM program will be effective until Oct. 6, 2025 unless terminated prior to such date by the trust or otherwise in accordance with the terms of the equity distribution agreement.

As units sold in the ATM program will be distributed at the market prices prevailing at the time of the sale, prices may vary among purchasers during the period of the distribution. Distributions of the units through the ATM program will be made pursuant to the terms of the equity distribution agreement. In connection with the renewal of the ATM program, the trust has filed a prospectus supplement dated Sept. 5, 2023, to the shelf prospectus. The prospectus supplement and the equity distribution agreement are available on SEDAR+ under the trust's profile.

About Dream Industrial Real Estate Investment Trust

Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at June 30, 2023, Dream Industrial REIT owns, manages and operates a portfolio of 321 industrial assets totalling approximately 70.3 million square feet of gross leasable area in key markets across Canada, Europe and the United States. Dream Industrial REIT's goal is to deliver strong total returns to its unitholders through secure cash flows underpinned by its high-quality portfolio and an investment grade balance sheet as well as driving growth in its net asset value and cash flow per unit.

We seek Safe Harbor.