Mr. Kelly Hanczyk reports

NEXUS INDUSTRIAL REIT ANNOUNCES JANUARY AND FEBRUARY DISTRIBUTIONS

Nexus Industrial REIT today declared the January and February, 2024, 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, 2024, to unitholders of record as of Jan. 31, 2024.

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, 2024, to unitholders of record as of Feb. 29, 2024.

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 the ownership and management of its portfolio of properties. The REIT currently owns a portfolio of 117 properties (including two properties held for development in which the REIT has an 80-per-cent interest) comprising approximately 12.5 million square feet of gross leasable area. The REIT has approximately 93,312,000 voting units issued and outstanding, including approximately 68,701,000 REIT units and approximately 24,611,000 Class B LP units of subsidiary limited partnerships of Nexus, which are convertible to REIT units on a one-to-one basis.