Mr. Mitchell Goldhar reports

SMARTCENTRES REIT TO RELEASE 2023 SECOND QUARTER RESULTS AND HOST CONFERENCE CALL

SmartCentres Real Estate Investment Trust will issue its financial results for the three months ended June 30, 2023, on Wednesday, Aug. 9, 2023.

SmartCentres will hold a conference call on Thursday, Aug. 10, 2023, at 3 p.m. ET. Participating on the call will be members of SmartCentres's senior management.

Investors are invited to access the call by dialing 1-855-353-9183 and then keying in the participant passcode 30006#. A recording of this call will be made available Thursday, August 10, 2023, beginning at 8:30 p.m. (ET) through to 8:30 p.m. (ET) on Thursday, August 17, 2023. To access the recording, please call 1-855-201-2300, enter the conference access code 30006# and then key in the playback access code 0113627#.

Recordings of SmartCentres' current and previous conference calls can be found on the REIT's website.

About SmartCentres

SmartCentres Real Estate Investment Trust is one of Canada's largest fully integrated REITs, with a best-in-class portfolio featuring 188 strategically located properties in communities across the country. SmartCentres has approximately $11.7 billion in assets and owns 34.8 million square feet of income producing, value-oriented retail and first-class office space with 98.0% occupancy, on 3,500 acres of owned land across Canada.

SmartCentres continues to focus on enhancing the lives of Canadians by planning and developing complete, connected, mixed-use communities on its existing retail properties. The publicly announced $16.0 billion intensification program ($10.8 billion at SmartCentres' share) represents the REIT's current major development focus on which construction is expected to commence within the next five years. This intensification program consists of rental apartments, condos, seniors' residences and hotels, to be developed under the SmartLiving banner, and retail, office, and storage facilities, to be developed under the SmartCentres banner.

SmartCentres' intensification program is expected to produce an additional 55.5 million square feet (40.3 million square feet at SmartCentres' share) of space, 26.6 million square feet (17.9 million square feet at SmartCentres' share) of which has or will commence construction within the next five years. From shopping centres to city centres, SmartCentres is uniquely positioned to reshape the Canadian urban and urban-suburban landscape.

Included in this intensification program is the Trust's share of SmartVMC, which, when completed, is expected to include approximately 20.0 million square feet of mixed-use space in Vaughan, Ontario. Final closings of the first three phases of Transit City Condominiums began ahead of budget and ahead of schedule in August 2020 and all 1,741 units, in addition to the 22 townhomes that complete these phases, have now closed. The fourth and fifth sold-out phases, representing 1,026 units, commenced closing in March 2023.

We seek Safe Harbor.