Mr. Kelly Hanczyk reports

NEXUS INDUSTRIAL REIT COMPLETES $300 MILLION UNSECURED DEBENTURE OFFERING

Nexus Industrial REIT has completed its previously announced offering of $300-million aggregate principal amount of senior unsecured debentures maturing March 29, 2030. The debentures bear interest at a fixed annual rate of 4.563 per cent per annum. The debentures were offered on a private placement best effort agency basis by a syndicate of agents led by BMO Capital Markets, Desjardins Capital Markets and RBC Capital Markets as joint bookrunners, and which included National Bank Capital Markets, Scotia Capital, CIBC Capital Markets, ATB Cormark Capital Markets and TD Securities.

Morningstar DBRS has provided the real estate investment trust with a credit rating of BBB (low) with a stable trend relating to the debentures. The REIT intends to use the net proceeds from the offering to repay existing indebtedness and for general trust purposes.

Blake, Cassels & Graydon LLP acted as counsel to the REIT, and Osler, Hoskin & Harcourt LLP acted as counsel to the agents in connection with the offering.

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 86 properties comprising approximately 12.1 million square feet of gross leasable area. The REIT has approximately 97,097,000 voting units issued and outstanding, including approximately 74,276,000 REIT units and approximately 22,821,000 Class B limited partnership units of subsidiary limited partnerships of Nexus, which are convertible to REIT units on a one-to-one basis.

We seek Safe Harbor.