Mr. Michael Zakuta reports

PLAZA RETAIL REIT ANNOUNCES MAY 2023 DISTRIBUTION

Plaza Retail REIT has declared its May, 2023, monthly distribution in the amount of 2.333 cents per unit (28 cents annualized). The May distribution will be payable on June 15, 2023, to unitholders of record as at May 31, 2023.

About Plaza Retail REIT

Plaza is an open-ended real estate investment trust and is a leading retail property owner and developer focused on Ontario, Quebec and Atlantic Canada. Plaza's portfolio at March 31, 2023, includes interests in 246 properties totalling approximately 8.8 million square feet across Canada, as well as additional lands held for development. Plaza's portfolio largely consists of open-air centres and stand-alone small-box retail outlets, and is predominantly occupied by national tenants, with a focus on the essential needs, value and convenience market segments.