Mr. Dennis Blasutti reports

RIOCAN REAL ESTATE INVESTMENT TRUST COMPLETES $200 MILLION ISSUANCE OF SERIES AQ SENIOR UNSECURED DEBENTURES

RioCan Real Estate Investment Trust has completed its previously announced issuance of $200-million principal amount of Series AQ senior unsecured debentures. The debentures were sold at a price of $100 per $100 principal amount, carry a coupon rate of 4.308 per cent per annum, are payable semi-annually in arrears and mature on March 11, 2033.

The net proceeds of the debentures will be used by the trust to repay existing indebtedness at or prior to maturity. The balance of the net proceeds, if any, will be used for general business purposes.

The debentures were offered on an agency basis by a syndicate of agents co-led by TD Securities, Desjardins Capital Markets, RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets and Scotia Capital.

Morningstar DBRS assigned the debentures a credit rating of BBB with a positive trend.

The debentures were issued pursuant to RioCan's trust indenture dated March 8, 2005, as supplemented. The debentures rank equally with all other senior unsecured indebtedness of the trust.

About RioCan Real Estate Investment Trust

RioCan meets the everyday shopping needs of Canadians through the ownership, management and development of necessity-based retail properties in densely populated communities. As at Dec. 31, 2025, its portfolio is composed of 168 properties with an aggregate net leasable area of approximately 31 million square feet (at RioCan's interest).

We seek Safe Harbor.