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TORONTO — DREAM OFFICE REAL ESTATE INVESTMENT TRUST (D.UN-TSX) or (“Dream Workplace REIT”, the “Belief” or “we”) introduced at this time that on February 27, 2023, it not directly disposed of an mixture of 565,000 items (“Items”) of Dream Industrial Actual Property Funding Belief (TSX: DIR.UN) (“Dream Industrial REIT” or “DIR”) representing roughly 0.2% of the voting items issued and excellent. The Items had been disposed of within the open market by way of the amenities of the Toronto Inventory Trade at a value of $14.70 per Unit or $8,305,500 within the mixture (the “Disposition”). On account of the Disposition, Dream Workplace REIT’s helpful holdings of Items have decreased beneath 10% of the issued and excellent voting items of Dream Industrial REIT.

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Previous to the Disposition, Dream Workplace REIT not directly owned (i) 8,052,451 Items, representing roughly 3.1% of the issued and excellent Items; and (ii) 18,551,855 Class B restricted partnership items (“LP B Items”) of Dream Industrial LP, the working subsidiary of Dream Industrial REIT, and a corresponding 18,551,855 particular belief items (“Particular Belief Items”) of Dream Industrial REIT, representing 100% of the issued and excellent LP B Items and 100% of the issued and excellent Particular Belief Items. Previous to the Disposition, the 8,052,451 Items along with the 18,551,855 Particular Belief Items held not directly by Dream Workplace REIT represented roughly 9.6% of the full variety of voting items of Dream Industrial REIT based mostly on 257,142,234 Items and 18,551,855 Particular Belief Items issued and excellent as of February 24, 2023. The securityholding proportion in Items of Dream Industrial REIT can be the identical at such time if the 18,551,855 LP B Items had been exchanged for Items of Dream Industrial REIT.

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Following the Disposition, Dream Workplace REIT not directly owns (i) 7,487,451 Items, representing 2.9% of the issued and excellent Items; and (ii) 18,551,855 LP B Items and an equal variety of Particular Belief Items, representing 100% of the issued and excellent LP B Items and 100% of the issued and excellent Particular Belief Items. Instantly following the Disposition, the 7,487,451 Items along with the 18,551,855 Particular Belief Items represented roughly 9.4% of the full variety of voting items of Dream Industrial REIT based mostly on 257,142,234 Items of Dream Industrial REIT and 18,551,855 Particular Belief Items issued and excellent as of February 27, 2023. Dream Workplace REIT’s securityholding proportion in Dream Industrial REIT has decreased over the past three years on account of fairness choices accomplished by Dream Industrial REIT throughout 2020, 2021 and 2022. The securityholding proportion in Items of Dream Industrial REIT can be the identical at such time if the 18,551,855 LP B Items had been exchanged for Items of Dream Industrial REIT.

The Items had been disposed of for funding functions. Dream Workplace REIT could occasionally purchase further securities of Dream Industrial REIT or Dream Industrial LP, whether or not by way of the DRIP or the DRIP-like options of the amended and restated restricted partnership settlement dated April 2, 2018 governing Dream Industrial LP or in any other case, eliminate some or all of such securities or preserve its present holdings.

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This press launch is being issued pursuant to the necessities of Nationwide Instrument 62-103 – The Early Warning System and Associated Take-Over Bid and Insider Reporting Points of the Canadian Securities Directors. A replica of the report back to be filed by Dream Workplace REIT in reference to the transactions described herein will probably be accessible on Dream Industrial REIT’s SEDAR profile at www.sedar.com, and can be obtained by contacting Mr. Robert Hughes, Normal Counsel, Dream Workplace REIT at 416-365-3535.

Dream Industrial REIT’s head workplace and Dream Workplace REIT’s head workplace are situated at 30 Adelaide Road East, Suite 301, Toronto, Ontario M5C 3H1.

About Dream Workplace REIT

Dream Workplace REIT is an unincorporated, open-ended actual property funding belief. Dream Workplace REIT is a premier workplace landlord in downtown Toronto with over 3.5 million sq. ft owned and managed. We’ve fastidiously curated an funding portfolio of high-quality property in irreplaceable places in one of many most interesting workplace markets on the earth. For extra info, please go to our web site at www.dreamofficereit.ca.

View supply model on businesswire.com: https://www.businesswire.com/information/house/20230227005942/en/

Contacts

For additional info, please contact:
Michael Cooper
Chairman and Chief Govt Officer
(416) 365-5145
mcooper@dream.ca

Jay Jiang
Chief Monetary Officer
(416) 365-6638
jjiang@dream.ca

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