Ms. Janice Fukakusa reports

RIOCAN REAL ESTATE INVESTMENT TRUST ANNOUNCES RESULTS OF VOTING AT ITS ANNUAL MEETING OF UNITHOLDERS

RioCan Real Estate Investment Trust has released the results of the votes from its annual meeting of unitholders, held today.

The total number of units represented by unitholders present in person or by proxy at the meeting was 159,806,744, representing 54.99 per cent of RioCan's 290,615,339 outstanding units entitled to be voted.

Each of the nominee trustees listed in the trust's management information circular dated April 27, 2026, was elected as a trustee. RioCan received proxies with regard to voting on the nine trustees nominated for election, as set forth in an attached table.

Appointment of the auditor

PricewaterhouseCoopers LLP was appointed 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 its remuneration) as detailed in an attached table.

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 detailed in an attached table.

About RioCan Real Estate Investment Trust

RioCan meets the everyday shopping needs of Canadians through the ownership, management and development of necessity-based retail properties in densely populated communities. As at March 31, 2026, its portfolio comprises 167 properties with an aggregate net leasable area of approximately 32 million square feet (at RioCan's interest).