This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release. All dollar amounts are in Canadian dollars unless otherwise indicated.

Company Website: http://www.dreamindustrialreit.ca
TORONTO -- (Business Wire)

Dream Industrial Real Estate Investment Trust (DIR.UN-TSX) (the “Trust” or “Dream Industrial REIT” or “Dream Industrial” or “we” or “us”) today announced receipt of its issuer rating and senior unsecured debentures credit rating upgrade to BBB (high) with Stable trends, from BBB, assigned by Morningstar DBRS (“DBRS”).

“We are proud to announce an upgrade in our credit rating to BBB (high),” said Alexander Sannikov,President & Chief Executive Officer of Dream Industrial REIT. “This rating upgrade reflects the strength of our urban industrial portfolio and ongoing resilience of our business. We remain firmly committed to disciplined capital allocation, maintaining a conservative balance sheet while pursuing accretive opportunities that maximize long-term value for our Unitholders.”

Following the upgrade, the Trust expects to achieve a reduction in the cost of borrowing on its existing $750 million unsecured syndicated revolving credit facility, its existing US$250 million unsecured term loan and €153 million unsecured term loan, effective upon the next drawdown. The rate of reduction in the cost of borrowing will vary by facility up to 25 basis points (“bps”) per annum in addition to an immediate 5 bps reduction in its standby fee pricing on the revolving credit facility.

“Representing one of the highest credit ratings currently granted within the Canadian REIT universe by DBRS, this upgrade is recognition of and reinforces confidence in the REIT’s balance sheet strength and credit quality, which we expect will translate into lower borrowing costs going forward,” said Lenis Quan, Chief Financial Officer of Dream Industrial REIT. “As we look to refinance our upcoming debt maturities, we expect the lower cost of debt to positively impact our annualized FFO per unit on a pro forma basis.”

About Dream Industrial Real Estate Investment Trust

Dream Industrial REIT is an owner, manager and operator of a global portfolio of well-located, diversified industrial properties. As at September 30, 2025, the REIT has an interest in and manages a portfolio which comprises 340 industrial assets (552 buildings) totalling approximately 73.2 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. The REIT’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 REIT is an unincorporated, open-ended real estate investment trust. For more information, please visit www.dreamindustrialreit.ca.

Forward looking information

This news release may contain forward-looking information within themeaning of applicable securities legislation. Forward looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events. Some of the specific forward-looking information in this news release may include, among other things, the Trust’s capital allocation including results on Unitholder value; the Trust’s expected cost of debt on a go-forward basis and timing of any reductions thereto; the Trust’s expectations regarding the decrease of its interest rate margins; and the Trust’s ability to re-finance upcoming debt maturities at decreased costs and the related impact on annualized FFO per unit. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Trust’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, general and local economic and business conditions; employment levels; mortgage and interest rates and regulations; inflation; risks related to a potential economic slowdown in certain of the jurisdictions in which the Trust operates and the effect inflation and any such economic slowdown may have on market conditions and lease rates; risks that the Trust’s operations may be affected by adverse global market, economic and political conditions and other events beyond our control, including risks related to the imposition of duties, tariffs and other trade restrictions and their impacts; uncertainties around the timing and amount of future financings; geopolitical events, including disputes between nations, war and international sanctions; the financial condition of tenants; leasing risks, including those associated with the ability to lease vacant space; rental rates and the strength of rental rate growth on future leasing; and interest and currency rate fluctuations. Our objectives and forward-looking statements are based on certain assumptions with respect to each of our markets, including that the general economy remains stable, including that future market and economic conditions will occur as expected and that geopolitical events, including disputes between nations or the imposition of duties, tariffs, quotas, embargoes or other trade restrictions (including any retaliation to such measures), will not disrupt global economies; inflation and interest rates will not materially increase beyond current market expectations; conditions within the real estate market remain consistent; competition for acquisitions remains consistent with the current climate; and the capital markets continue to provide ready access to equity and/or debt. All forward-looking information in this news release speaks as of the date of this news release. The Trust does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in the Trust’s filings with securities regulators, including its latest annual information form and MD&A. These filings are also available at the Trust’s website at www.dreamindustrialreit.ca.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251126615636/en/

Contacts:

For further information, please contact:

Dream Industrial REIT

Alexander Sannikov
President & Chief Executive Officer
(416) 365-4106
asannikov@dream.ca

Lenis Quan
Chief Financial Officer
(416) 365-2353
lquan@dream.ca

Source: Dream Industrial Real Estate Investment Trust