RioCan Real Estate Investment Announces Results of Voting at its Annual Meeting of Unitholders

RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) today announced the results of the votes held at its June 4, 2024 annual meeting of unitholders (the “Meeting”).

The total number of units represented by unitholders present in person or by proxy at the Meeting was 170,542,246, representing 56.85% of RioCan’s 299,961,688 outstanding units entitled to be voted.

Each of the nominee Trustees listed in the Trust's Management Information Circular dated April 19, 2024 was elected as a Trustee. RioCan received proxies with regard to voting on the eleven Trustees nominated for election, as set forth in the table below:

Name of Nominee

Votes For

%

Votes Withheld

%

Bonnie Brooks, C.M.

167,112,377

98.45%

2,626,010

1.55%

Richard Dansereau

168,515,497

99.28%

1,223,474

0.72%

Janice Fukakusa, C.M.

163,691,024

96.44%

6,047,947

3.56%

Jonathan Gitlin

168,223,598

99.11%

1,515,373

0.89%

Marie-Josée Lamothe

167,743,977

98.83%

1,994,410

1.17%

Dale H. Lastman, C.M., O.Ont.

166,281,009

97.96%

3,457,962

2.04%

Jane Marshall

158,927,613

93.63%

10,810,774

6.37%

Guy Metcalfe

168,966,898

99.55%

772,073

0.45%

Edward Sonshine, O.Ont., K.C.

160,415,285

94.53%

9,282,276

5.47%

Siim A. Vanaselja

161,836,883

95.34%

7,901,504

4.66%

Charles M. Winograd

164,094,066

96.67%

5,644,904

3.33%

Appointment of Auditors

Ernst & Young LLP was reappointed as the auditor of the Trust until the next annual meeting of unitholders by resolution passed by a majority of the unitholders. Management received proxies to vote for the appointment of the auditor (and to authorize the Trustees to fix their remuneration) as follows:

Votes For

%

Votes Withheld

%

168,880,079

99.03%

1,662,167

0.97%

Say-On-Pay Non-Binding Advisory Vote

The non-binding say-on-pay vote on the Trust’s approach to executive compensation was passed as follows:

Votes For

%

Votes Against

%

153,246,145

90.28%

16,492,824

9.72%

About RioCan RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at March 31, 2024, our portfolio is comprised of 188 properties with an aggregate net leasable area of approximately 32.6 million square feet (at RioCan's interest) including office, residential rental and nine development properties. To learn more about us, please visit www.riocan.com.

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RioCan Kim Lee Vice President, Investor Relations [phone]