Redemption of 5.45% Convertible Unsecured Debentures

TORONTO, ONTARIO–(Marketwired – Nov. 6, 2017) –

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

SmartCentres Real Estate Investment Trust (“SmartCentres“) (TSX:SRU.UN) announced today that it has redeemed ,000,000 aggregate principal amount of its 5.45% convertible unsecured debentures due June 30, 2018 (the “Debentures“), representing a redemption in full of all of the outstanding Debentures. The Debentures were assumed by SmartCentres from OneREIT on October 4, 2017 in connection with the closing of SmartCentres’ acquisition of a portfolio of 12 properties from OneREIT. The Debentures were redeemed at a total redemption price of ,000 plus accrued and unpaid interest of .26, both per ,000 principal amount.

About SmartCentres

SmartCentres is one of Canada’s largest real estate investment trusts with total assets of approximately .3 billion. It owns and manages 34 million square feet in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartCentres is a joint-venture partner in the Premium Outlets locations in Toronto and Montreal with Simon Property Group. SmartCentres is now expanding the breadth of its portfolio to include residential (single-family, condominium and rental), retirement homes, office, and self-storage, either on its large urban properties such as the Vaughan Metropolitan Centre or as an adjunct to its existing shopping centres.

SmartCentres’ core vision is to provide a value-oriented shopping experience in all forms to Canadian consumers and to create high quality mixed-use developments in urban settings. SmartCentres is a fully integrated real estate provider with expertise in planning, development, leasing, operations and construction – all under one roof. For more information on SmartCentres, visit www.smartcentres.com.