Mr. Alexander Sannikov reports

DREAM INDUSTRIAL REIT RENEWS NORMAL COURSE ISSUER BID AND AUTOMATIC SECURITIES PURCHASE PLAN

The Toronto Stock Exchange has accepted a notice of intention filed by Dream Industrial Real Estate Investment Trust to make a normal course issuer bid. Under the bid, the trust will have the ability to purchase for cancellation up to a maximum of 28,272,244 of its units (representing 10 per cent of the trust's public float of 282,722,448 units as of Feb. 28, 2026) through the facilities of the TSX or any alternative Canadian trading system, or by such other means as may be permitted by the Canadian Securities Administrators. The bid will commence on March 10, 2026, and will remain in effect until the earlier of March 9, 2027, or the date on which the trust has purchased the maximum number of units permitted under the bid. Daily repurchases will be limited to 127,854 units, representing 25 per cent of the average daily trading volume of the units on the TSX during the last six calendar months (being 511,416 units per day), other than purchases pursuant to applicable block purchase exceptions. As of Feb. 28, 2026, the number of issued and outstanding units was 284,017,577.

In connection with the filing of its normal course issuer bid, the trust has established an automatic securities purchase plan with its designated broker to facilitate the purchase of units under the normal course issuer bid at times when the trust would ordinarily not be permitted to purchase its units due to regulatory restrictions or self-imposed blackout periods. Purchases will be made by the trust's broker based upon the parameters prescribed by the TSX and the terms of the parties' written agreement. Outside of such restricted or blackout periods, the units may also be purchased in accordance with management's discretion. The plan has been precleared by the TSX and will terminate on March 9, 2027.

The trust is making the bid because it believes that units may become available during the period of the bid at prices that would make the purchase of such units for cancellation in the best interests of Dream Industrial REIT and its unitholders.

The trust's current normal course issuer bid for the purchase of up to 27,800,995 units expires on March 9, 2026. Under this bid and up until Feb. 28, 2026, the trust has purchased for cancellation 5,551,350 units through the facilities of the Toronto Stock Exchange at an average price of $12.20 for a gross amount of approximately $67.7-million. Please note that the amount of units repurchased under the bid was in line with both management and board strategy with respect to the use of capital for units repurchased.

Dream Industrial REIT is an owner, manager and operator of a global portfolio of well-located, diversified industrial properties. As at Dec. 31, 2025, Dream Industrial REIT has an interest in and manages a portfolio that comprises 342 industrial assets (555 buildings) totalling approximately 73.6 million square feet of gross leasable area in key markets across Canada, Europe and the United States. Dream Industrial 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.