RioCan Real Estate Investment Trust Announces Results of Voting at its Annual Meeting of Unitholders

TORONTO--(BUSINESS WIRE)--RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) today announced the results of the votes from its annual meeting of unitholders (the “Meeting”) held today.

The total number of units represented by unitholders present in person or by proxy at the Meeting was 172,731,826, representing 58.07% of RioCan’s 296,731,826 outstanding units entitled to be voted.

Each of the nominee Trustees listed in the Trust's Management Information Circular dated April 25, 2025 was elected as a Trustee. RioCan received proxies with regard to voting on the ten Trustees nominated for election, as set forth in the table below:

Name of Nominee	Votes For	%	Votes Withheld	%
Richard Dansereau	170,543,739	99.62%	644,205	0.38%
Janice Fukakusa, C.M.	167,217,663	97.68%	3,970,279	2.32%
Jonathan Gitlin	168,820,489	98.62%	2,367,455	1.38%
Marie-Josée Lamothe	169,471,182	99.00%	1,716,760	1.00%
Dale H. Lastman, C.M., O.Ont.	167,666,003	97.94%	3,521,941	2.06%
Jane Marshall	167,271,185	97.71%	3,916,766	2.29%
Guy Metcalfe	170,693,242	99.71%	494,702	0.29%
Edward Sonshine, O.Ont., K.C.	166,604,994	97.32%	4,580,906	2.68%
Siim A. Vanaselja	162,187,474	94.74%	9,000,468	5.26%
Charles M. Winograd	162,276,329	94.79%	8,911,615	5.21%

Appointment of Auditors

Ernst & Young LLP was reappointed 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 their remuneration) as follows:

Votes For	%	Votes Withheld	%
170,023,890	98.67%	2,297,678	1.33%

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 follows:

Votes For	%	Votes Against	%
158,897,172	92.82%	12,290,771	7.18%

About RioCan

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at March 31, 2025, our portfolio is comprised of 177 properties with an aggregate net leasable area of approximately 32 million square feet (at RioCan's interest). To learn more about us, please visit www.riocan.com.