Mr. Jonathan Gitlin reports

RIOCAN ANNOUNCES INTERIM CHIEF FINANCIAL OFFICER APPOINTMENT

RioCan Real Estate Investment Trust has appointed Franca Smith as interim chief financial officer, effective immediately, during the temporary medical leave of Dennis Blasutti.

Ms. Smith joined RioCan in 2017 as vice-president, finance, and has served as senior vice-president, finance, since 2022. In this capacity, she leads the trust's financial reporting and controls, corporate taxation, accounting, and internal audit functions.

Ms. Smith previously served as RioCan's interim chief financial officer from May to September, 2021, providing continuity of financial leadership and effective oversight of the finance function. Her prior experience in the role, together with her deep institutional knowledge and understanding of RioCan's business and strategy, positions her to ensure seamless and uninterrupted execution during this period.

"Franca is a trusted and accomplished leader with deep insight and a proven track record," said Jonathan Gitlin, president and chief executive officer. "On behalf of the board of trustees and the entire RioCan team, we wish Dennis well during his medical leave and look forward to his return to his full duties. We are confident Franca will provide strong leadership and continue to advance the trust's strategic priorities through this period."

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, the trust's portfolio comprises 168 properties with an aggregate net leasable area of approximately 31 million square feet (at RioCan's interest).