Mr. Mitchell Goldhar reports

SMARTCENTRES RELEASES 2025 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

SmartCentres Real Estate Investment Trust has released its 2025 environmental, social and governance report. The ESG report highlights SmartCentres' key ESG initiatives and accomplishments on how the trust continues to embed ESG strategy into its business.

"We are executing on our decarbonization strategy, working closely with our tenants to identify and align mutual priorities and opportunities. We believe collaboration will create long-term value both for the communities in which we operate and our unitholders. We also focused on understanding how artificial intelligence and cybersecurity impact our business, both from the perspective of opportunity and risks to be managed. As we continue to execute on our ESG strategy, we will strive to do even better," said Mitchell Goldhar, executive chairman and chief executive officer, SmartCentres.

2025 highlights:

• Improved global real estate sustainability benchmark score to 84 out of 100, achieving 2025 sector leader status;
• Conducted a double materiality assessment to identify and prioritize ESG-related impacts, opportunities and risks most relevant to business and stakeholders;
• Further developed net zero framework to assess the best path forward taking into consideration interim targets, emission reduction targets and cost assumptions;
• Advanced decarbonization strategy through the application of a sustainable development framework and approved a solar photovoltaic project for installation, with construction anticipated to commence in third quarter 2026;
• Maintained strong commitment to governance and oversight with an established ESG subcommittee of the board;
• Established an AI committee to support best practices, innovation and scalable AI adoption across SmartCentres;
• Exceeded board diversity targets with women representing 38 per cent of the trustees, and independent trustees representing 75 per cent of the board; and
• Improved cybersecurity monitoring and practices, as well as upgraded enterprise risk management systems to ensure effective risk monitoring.

SmartCentres' annual ESG reports can be found on its website.

About SmartCentres Real Estate Investment Trust

SmartCentres is one of Canada's largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 200 strategically located properties in communities across the country. SmartCentres has approximately $12.3-billion in assets consisting of income-producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. SmartCentres owns 35.5 million square feet of leasable space with 97.6 per cent in place and committed occupancy, on 3,500 acres of owned land across Canada.