Mr. Kelly Hanczyk reports

NEXUS INDUSTRIAL REIT ANNOUNCES Q4 2022 RESULTS DATE AND JANUARY AND FEBRUARY DISTRIBUTIONS

Nexus Industrial REIT intends to release its financial results for the year ended Dec. 31, 2022, before the opening of the Toronto Stock Exchange on Wednesday, March 15, 2023.

Management of the REIT will host a conference call at 11:30 a.m. ET on Wednesday, March 15, 2023, to review the financial results and operations.

To participate in the conference call, please dial 416-915-3239 or 1-800-319-4610 (toll-free in Canada and the United States) at least five minutes prior to the start time and ask to join the Nexus Industrial REIT conference call.

A recording of the conference call will be available until April 15, 2023. To access the recording, please dial 604-674-8052 or 1-855-669-9658 (toll-free in Canada and the U.S.) and enter access code 9844.

January and February 2023 distributions

The REIT will make a cash distribution in the amount of 5.333 cents per unit, representing 64 cents per unit on an annualized basis, payable Feb. 15, 2023, to unitholders of record as of Jan. 31, 2023.

The REIT will also make a cash distribution in the amount of 5.333 cents per unit, representing 64 cents per unit on an annualized basis, payable March 15, 2023, to unitholders of record as of Feb. 28, 2023.

The REIT's distribution reinvestment plan (DRIP) entitles eligible unitholders to elect to receive all, or a portion of, the cash distributions of the REIT reinvested in units of the REIT. Eligible unitholders who so elect will receive a bonus distribution of units equal to 4 per cent of each distribution that was reinvested by them under the DRIP.

About Nexus Industrial REIT

Nexus is a growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition of industrial properties located in primary and secondary markets in Canada and potentially including the United States, and the ownership and management of its portfolio of properties. The REIT currently owns a portfolio of 112 properties (including two properties held for development in which the REIT has an 80-per-cent interest) comprising approximately 11.1 million square feet of gross leasable area. The REIT has approximately 67,347,000 units issued and outstanding. Additionally, there are Class B LP units of subsidiary limited partnerships of Nexus issued and outstanding, which are convertible into approximately 20,317,000 units.