Dream Industrial REIT Announces Green Financing Framework

This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release.

TORONTO--()--Dream Industrial REIT (TSX: DIR.UN) (“Dream Industrial”, or the “Trust”) today announced its Green Financing Framework (“the Framework”) in support of its commitment to impact, sustainability, and environmental, social and governance (“ESG”) initiatives.

The Green Financing Framework represents a key step in Dream Industrial’s commitment to making strategic investments in sustainable projects and creating long term value for our unitholders,” said Brian Pauls, Chief Executive Officer of Dream Industrial REIT. “The Framework demonstrates our focus on green initiatives that are aligned with the UN Sustainable Development Goals (SDGs), and attracts capital for impact investing while providing transparency on our progress to various stakeholders.”

Under the Framework, Dream Industrial, or any of its subsidiaries may issue green bonds, green loans or other financial instruments to finance or re-finance eligible green projects, as defined in the Framework. The Trust’s Framework has been reviewed by DNV, a global leader in pioneering green, social, and sustainable frameworks. DNV issued a second party opinion confirming that the Framework aligns with the International Capital Markets Association Green Bond Principles 2018 and the Loan Market Association Green Loan Principles 2021. TD Securities and Scotiabank acted as Green Structuring Advisors for the Framework. Sustainability is ingrained in Dream Industrial’s business and it is focused on internal and external initiatives that are aligned with the UN SDGs to benefit all stakeholders.

In order to allow its various stakeholders to assess the Trust’s progress on its green financing program, the Trust will provide annual updates on its website and in its Annual Corporate Sustainability Report until the net proceeds of any green financing are fully allocated to eligible green projects. Copies of Dream Industrial’s Framework, Corporate Sustainability Report, and DNV’s second party opinion are available on Dream Industrial’s website at www.dream.ca/investors/industrial.

About Dream Industrial Real Estate Investment Trust

Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at March 31, 2021, the Trust owns and operates a portfolio of 186 assets (280 industrial buildings) comprising approximately 28.8 million square feet of gross leasable area in key markets across North America and a growing presence in strong European industrial markets. The Trust’s objective is to continue to grow and upgrade the quality of its portfolio and to provide attractive overall returns to its unitholders. For more information, please visit www.dreamindustrialreit.ca.

Forward Looking Information

This news release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events. Some of the specific forward-looking information in this news release may include, among other things, our strategy to create sustainable long-term value for our unitholders; the Framework providing us a strong platform to further our green initiatives; our plans to increase our focus on sustainability and impact investing by integrating our social and environmental obligations; our plans to issue green bonds, green loans or other financial instruments to finance or re-finance eligible green projects; and our plans to provide annual updates on our green financing initiatives. Forward looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dream Industrial REIT’s control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, global and local economic and business conditions; uncertainties surrounding the COVID-19 pandemic; the financial condition of tenants; our ability to finance or refinance eligible green projects; interest and currency rate fluctuations; competition; and the risk that there may be unforeseen events that cause the Trust’s actual capital structure, overall cost of debt and results of operations to differ from what the Trust currently anticipates. Our objectives and forward-looking statements are based on certain assumptions with respect to each of our markets, including that the general economy remains stable, the gradual recovery and growth of the general economy continues over the remainder of 2021, interest rates remain stable, conditions within the real estate market remain consistent, competition for and availability of acquisitions remains consistent with the current climate, the capital markets continue to provide ready access to equity and/or debt, the timing and ability to sell certain properties remains in line with the Trust’s expectations, valuations to be realized on property sales will be in line with current IFRS values, occupancy levels remain stable, and the replacement of expiring tenancies will remain consistent. All forward-looking information in this news release speaks as of the date of this news release. Dream Industrial REIT does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in Dream Industrial REIT’s filings with securities regulators, including its latest annual information form and MD&A. These filings are also available at Dream Industrial REIT’s website at www.dreamindustrialreit.ca.

Contacts

Dream Industrial Real Estate Investment Trust

Brian Pauls
Chief Executive Officer
(416) 365-2365
bpauls@dream.ca

Lenis Quan
Chief Financial Officer
(416) 365-2353
lquan@dream.ca

Alexander Sannikov
Chief Operating Officer
(416) 365-4106
asannikov@dream.ca

Contacts

Dream Industrial Real Estate Investment Trust

Brian Pauls
Chief Executive Officer
(416) 365-2365
bpauls@dream.ca

Lenis Quan
Chief Financial Officer
(416) 365-2353
lquan@dream.ca

Alexander Sannikov
Chief Operating Officer
(416) 365-4106
asannikov@dream.ca