Mr. Alexander Sannikov reports

DREAM INDUSTRIAL REAL ESTATE INVESTMENT TRUST COMPLETES OFFERING OF C$200 MILLION SENIOR UNSECURED DEBENTURES, SERIES G

Dream Industrial Real Estate Investment Trust has closed its previously announced private placement of senior unsecured debentures, consisting of $200-million aggregate principal amount of 4.287 per cent senior unsecured debentures, Series G, maturing on July 3, 2030. In connection with the offering, the trust has entered into forward cross-currency interest rate swap arrangements to swap the proceeds of the offering to euros to lower the effective fixed interest rate to 3.726 per cent, effective Dec. 22, 2025.

The Series G debentures are rated BBB with a positive trend by DBRS Ltd. The trust intends to use the net proceeds from the offering to repay existing indebtedness (including to prefinance the repayment of indebtedness that will mature in December, 2025) and for general trust purposes.

The Series G debentures have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer or sale of the Series G debentures in Canada will be made on a basis that is exempt from the prospectus requirements of such securities laws. The Series G debentures will not be listed on any stock exchange and there will be no market for such securities.

About Dream Industrial Real Estate Investment Trust

Dream Industrial is an owner, manager and operator of a global portfolio of well-located, diversified industrial properties. As at March 31, 2025, Dream Industrial has an interest in and manages a portfolio comprising 336 industrial assets (549 buildings) totalling approximately 72.6 million square feet of gross leasable area in key markets across Canada, Europe and the United States. Dream Industrial's objective is to deliver strong total returns to its unitholders through secure distributions, as well as growth in net asset value and cash flow per unit, underpinned by its high-quality portfolio and an investment-grade balance sheet. Dream Industrial is an unincorporated, open-ended real estate investment trust.

We seek Safe Harbor.