Mr. Alex Avery reports

PRIMARIS REIT CLOSES THE ACQUISITION OF ATLANTIC CANADA'S PREMIERE SHOPPING CENTRE COMPLEX

Primaris Real Estate Investment Trust has closed the transaction originally announced on Nov. 20, 2023, for the purchase of Halifax Shopping Centre and the Annex in Halifax, N.S. The transaction, which was subject to customary closing conditions, all of which have been fulfilled, was for aggregate consideration of $370-million, satisfied by a combination of cash and equity, as described in the Nov. 20 release. This high-quality asset acquisition is consistent with Primaris's growth strategy, focused on market-leading shopping centres.

About Primaris Real Estate Investment Trust

Primaris is Canada's only enclosed shopping-centre-focused REIT, with ownership interests primarily in the leading enclosed shopping centres in growing markets.