Mr. Kelly Hanczyk reports

NEXUS INDUSTRIAL REIT ANNOUNCES $500 MILLION INAUGURAL UNSECURED DEBENTURE OFFERING

Nexus Industrial REIT has priced a private placement offering of $500-million aggregate principal amount of senior unsecured debentures, consisting of $300-million aggregate principal amount of Series A debentures maturing April 14, 2029, and $200-million aggregate principal amount of Series B debentures maturing April 14, 2031. The debentures are being offered on a private placement basis in each of the provinces of Canada by a syndicate of agents led by BMO Capital Markets, Desjardins Capital Markets and RBC Capital Markets as joint bookrunners, which includes National Bank Capital Markets, Scotia Capital, CIBC Capital Markets, ATB Cormark Capital Markets and TD Securities.

"We are very pleased to announce the successful pricing of Nexus's inaugural debenture offering, with an expected credit rating of BBB (low) with a stable trend from Morningstar DBRS," said Kelly Hanczyk, chief executive officer of the real estate investment trust. "The expected investment grade rating of our first debentures reflects our execution on the REIT's long-term, strategic plans and helps position the REIT for future flexibility."

The Series A debentures will bear interest at a fixed annual rate of 4.236 per cent per annum, payable in equal semi-annual instalments in arrears on April 14 and Oct. 14 in each year, commencing on Oct. 14, 2026, until maturity, unless redeemed at an earlier date. The Series B debentures will bear interest at a fixed annual rate of 4.641 per cent per annum, payable in equal semi-annual instalments in arrears on April 14 and Oct. 14 in each year, commencing on Oct. 14, 2026, until maturity, unless redeemed at an earlier date. The debentures will be direct senior unsecured obligations of the REIT and will rank equally and rateably with all other unsecured and unsubordinated indebtedness of the REIT, except to the extent prescribed by law.

It is a condition of closing of the offering that the debentures be rated at least BBB (low) with a stable trend by Morningstar DBRS. The REIT intends to use the net proceeds from the offering to repay existing indebtedness and for general trust purposes. The closing of the offering is expected to take place on or about April 14, 2026.

About Nexus Industrial REIT

Nexus is a growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition of industrial properties located in primary and secondary markets in Canada, and the ownership and management of its portfolio of properties. The REIT currently owns a portfolio of 88 properties (including one property held for development in which the REIT has an 80-per-cent interest) comprising approximately 12.4 million square feet of gross leasable area. The REIT has approximately 97,086,000 voting units issued and outstanding, including approximately 71,816,000 REIT units and approximately 25.27 million Class B limited partnership units of subsidiary limited partnerships of Nexus, which are convertible to REIT units on a one-to-one basis.

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