Toronto, Ontario (April 8, 2026) – SmartCentres Real Estate Investment Trust (“SmartCentres”) (TSX: SRU.UN) announced today that it will be reporting its financial results for the three months ended March 31, 2026 after the market closes on Wednesday, May 6, 2026.
SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 198 strategically located properties in communities across the country. SmartCentres has approximately $12.1 billion in assets consisting of income producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. SmartCentres owns 35.6 million square feet of leasable space with 98.6% in place and committed occupancy, on 3,500 acres of owned land across Canada.
Toronto, Ontario (April 1, 2026) – SmartCentres Real Estate Investment Trust (“SmartCentres”, the “Trust” or the “REIT”) (TSX: SRU.UN) has finalized and is in the process of sending its management information circular in connection with its annual meeting of unitholders scheduled to be held on May 13, 2026. At the meeting, unitholders will be asked to approve the election of trustees, the appointment of the REIT’s auditor and an advisory vote on the REIT’s approach to executive compensation. In addition, unitholders will be asked to ratify the adoption of a new long-term incentive plan, details of which are included in the management information circular.
A copy of the management information circular has been filed on SEDAR+ under the REIT’s profile.
Following the completion of negotiations previously disclosed, SmartCentres is pleased to announce that it has concluded new five-year arrangements with the Penguin Group of companies (“Penguin”) and a five-year extension to the appointment of the REIT’s current Executive Chairman and CEO. The arrangements, entered into on April 1, 2026 and made effective as of January 1, 2026, provide for continuity of leadership and Penguin’s development expertise and industry relationships through December 31, 2030.
The arrangements were negotiated on behalf of the REIT by an Independent Committee composed entirely of independent members of the Board of Trustees. After consideration of, among other things, the advice of its independent financial, legal and compensation advisors, the Independent Committee unanimously recommended that the Board approve the arrangements. The resulting series of definitive agreements – including an extension and amendment of the executive employment agreement for the Executive Chair and CEO, an updated Penguin Services Agreement, an amended Development Services Agreement, and an omnibus settlement agreement – modernize, simplify and further align the relationship between the parties and the REIT’s long-term governance framework.
Details of these arrangements are included in the Trust’s management information circular.
In accordance with the REIT’s Declaration of Trust, the previously outstanding voting top-up right expired and will not be reinstated.
The transactions are either not subject to the related party transaction requirements of Multilateral Instrument 61-101 or are exempt from the requirements to obtain a formal valuation or minority shareholder approval.
Financial Impact
In connection with the arrangements, management estimates that the run-rate of G&A will increase by approximately $1.5 million per quarter.
About SmartCentres
SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 198 strategically located properties in communities across the country. SmartCentres has approximately $12.1 billion in assets consisting of income producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. SmartCentres owns 35.6 million square feet of leasable space with 98.6% in place and committed occupancy, on 3,500 acres of owned land across Canada.
Certain statements in this Press Release are “forward-looking statements” that reflect management’s expectations regarding the Trust’s future growth, results of operations, performance and business prospects and opportunities. More specifically, certain statements including, but not limited to, statements related to continued access to Penguin and the Executive Chairman and CEO for a five-year period, the effect of the streamlined arrangements, the anticipated effect on G&A of the arrangements, and other statements that may contain words such as “could”, “should”, “can”, “anticipate”, “expect”, “believe”, “will”, “may” and similar expressions and statements relating to matters that are not historical facts, constitute “forward-looking statements”. These forward-looking statements are presented for the purpose of assisting the Trust’s Unitholders and financial analysts in understanding the Trust’s operating environment and may not be appropriate for other purposes. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management.
However, such forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including risks associated with potential acquisitions not being completed or not being completed on the contemplated terms, public health crises, real property ownership and development, debt and equity financing for development, interest and financing costs, construction and development risks, and the ability to obtain commercial and municipal consents for development. These risks and others are more fully discussed under the heading “Risks and Uncertainties” and elsewhere in SmartCentres’ most recent Management’s Discussion and Analysis, as well as under the heading “Risk Factors” in SmartCentres’ most recent annual information form. Although the forward-looking statements contained in this Press Release are based on what management believes to be reasonable assumptions, SmartCentres cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. These forward-looking statements are made as at the date of this Press Release and SmartCentres assumes no obligation to update or revise them to reflect new events or circumstances unless otherwise required by applicable securities legislation.
Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking information may include, but are not limited to: a stable retail environment; a continuing trend toward land use intensification, including residential development in urban markets and continued growth along transportation nodes; access to equity and debt capital markets to fund, at acceptable costs, future capital requirements and to enable our refinancing of debts as they mature; that requisite consents for development will be obtained in the ordinary course, construction and permitting costs consistent with the past year and recent inflation trends.
Toronto, Ontario (March 17, 2026) – SmartCentres Real Estate Investment Trust (“SmartCentres”) (TSX: SRU.UN) announced today that the trustees of SmartCentres have declared a distribution for the month of March 2026 of $0.15417 per unit, representing $1.85 per unit on an annualized basis. The distribution will be payable on April 15, 2026 to unitholders of record as at March 31, 2026.
About SmartCentres
SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 198 strategically located properties in communities across the country. SmartCentres has approximately $12.1 billion in assets consisting of income producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. SmartCentres owns 35.6 million square feet of leasable space with 98.6% in place and committed occupancy, on 3,500 acres of owned land across Canada.
Toronto, Ontario (March 13, 2026) – The Board of Trustees of SmartCentres Real Estate Investment Trust (“SmartCentres”, the “Trust” or the “REIT”) (TSX: SRU.UN) today provided a further update regarding certain existing arrangements referred to in the REIT’s press release dated February 27, 2026.
The parties have agreed to further extend the existing agreements to April 16, 2026 for the reasons previously set out and allow additional time for the agreements to be finalized. We anticipate the good faith negotiations to result in mutually acceptable arrangements.
The Independent Committee of the Board, composed entirely of independent trustees, is overseeing the discussions on behalf of the REIT with Penguin and Mr. Goldhar.
About SmartCentres
SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 198 strategically located properties in communities across the country. SmartCentres has approximately $12.1 billion in assets consisting of income producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. SmartCentres owns 35.6 million square feet of leasable space with 98.6% in place and committed occupancy, on 3,500 acres of owned land across Canada.
Certain statements in this Press Release are “forward-looking statements” that reflect management, the Board and the Independent Committee’s expectations regarding the Trust’s future arrangements, growth, operations, performance and business prospects and opportunities. More specifically, certain statements including, but not limited to, statements related to ongoing discussions with Mr. Goldhar and Penguin, the potential outcomes, terms and timing of these discussions or any existing or new arrangements resulting therefrom and the focus of the Board and Independent Committee and statements that contain words such as “could”, “should”, “can”, “anticipate”, “expect”, “ensures”, “believe”, “will”, “may” and similar expressions and statements relating to matters that are not historical facts, constitute “forward-looking statements”.
Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking information may include, but are not limited to: continued performance of the parties in the ordinary course in accordance with the terms of the existing arrangements, as extended; expectations regarding ongoing constructive discussions between the Trust and Mr. Goldhar and Penguin; and the likelihood of a mutually acceptable outcome on or before the agreed April 16, 2026 extension date.
Such forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including that the discussions between the parties could be unsuccessful; that the existing agreements could be terminated in accordance with their terms and that Mr. Goldhar does not remain with the Trust; that the terms of any amended, extended, supplemented or replaced definitive agreements could be on terms and conditions less favourable to the Trust than current arrangements; that the parties may not complete discussions or that definitive agreements may not be reached on or before the agreed extension date, or at all, or that one or more further extensions may be required; and the potential effects and outcomes, including on the Trust’s unit price and trading liquidity, arising from the discussions between the parties. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive. Readers should consult the more complete discussion of the Trust’s business, financial condition and prospects under the heading “Risks and Uncertainties” and elsewhere in SmartCentres’ most recent Management’s Discussion and Analysis, as well as under the heading “Risk Factors” in SmartCentres’ most recent annual information form. Although the forward-looking statements contained in this Press Release are based on what management believes to be reasonable assumptions, SmartCentres cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. These forward-looking statements are made as at the date of this Press Release and SmartCentres assumes no obligation to update or revise them to reflect new events or circumstances unless otherwise required by applicable securities legislation.
Toronto, Ontario (February 27, 2026) – The Board of Trustees of SmartCentres Real Estate Investment Trust (“SmartCentres”, the “Trust” or the “REIT”) (TSX: SRU.UN) today provided an update regarding certain existing arrangements between the Trust and Mitchell Goldhar, Executive Chairman and CEO of SmartCentres and owner of Penguin Group of Companies (“Penguin”) that were previously extended to February 28, 2026.
In order to provide sufficient time to finalize the arrangements, the parties have agreed to extend the existing agreements with Penguin and Mr. Goldhar to March 16, 2026. The parties are negotiating in good faith and currently anticipate that they will align on mutually acceptable arrangements.
The Independent Committee of the Board, composed entirely of independent trustees, is overseeing the discussions on behalf of the REIT with Penguin and Mr. Goldhar.
About SmartCentres
SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 198 strategically located properties in communities across the country. SmartCentres has approximately $12.1 billion in assets consisting of income producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. SmartCentres owns 35.6 million square feet of leasable space with 98.6% in place and committed occupancy, on 3,500 acres of owned land across Canada.
Certain statements in this Press Release are “forward-looking statements” that reflect management, the Board and the Independent Committee’s expectations regarding the Trust’s future arrangements, growth, operations, performance and business prospects and opportunities. More specifically, certain statements including, but not limited to, statements related to ongoing discussions with Mr. Goldhar and Penguin, the potential outcomes, terms and timing of these discussions or any existing or new arrangements resulting therefrom and the focus of the Board and Independent Committee and statements that contain words such as “could”, “should”, “can”, “anticipate”, “expect”, “ensures”, “believe”, “will”, “may” and similar expressions and statements relating to matters that are not historical facts, constitute “forward-looking statements”.
Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking information may include, but are not limited to: continued performance of the parties in the ordinary course in accordance with the terms of the existing arrangements, as extended; expectations regarding ongoing constructive discussions between the Trust and Mr. Goldhar and Penguin; and the likelihood of a mutually acceptable outcome on or before the agreed March 16, 2026 extension date.
Such forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including that the discussions between the parties could be unsuccessful; that the existing agreements could be terminated in accordance with their terms and that Mr. Goldhar does not remain with the Trust; that the terms of any amended, extended, supplemented or replaced definitive agreements could be on terms and conditions less favourable to the Trust than current arrangements; that the parties may not complete discussions or that definitive agreements may not be reached on or before the agreed extension date, or at all, or that one or more further extensions may be required; and the potential effects and outcomes, including on the Trust’s unit price and trading liquidity, arising from the discussions between the parties. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive. Readers should consult the more complete discussion of the Trust’s business, financial condition and prospects under the heading “Risks and Uncertainties” and elsewhere in SmartCentres’ most recent Management’s Discussion and Analysis, as well as under the heading “Risk Factors” in SmartCentres’ most recent annual information form. Although the forward-looking statements contained in this Press Release are based on what management believes to be reasonable assumptions, SmartCentres cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. These forward-looking statements are made as at the date of this Press Release and SmartCentres assumes no obligation to update or revise them to reflect new events or circumstances unless otherwise required by applicable securities legislation.
Toronto, Ontario (February 18, 2026) – SmartCentres Real Estate Investment Trust (“SmartCentres”) (TSX: SRU.UN) announced today that the trustees of SmartCentres have declared a distribution for the month of February 2026 of $0.15417 per unit, representing $1.85 per unit on an annualized basis. The distribution will be payable on March 16, 2026 to unitholders of record as at February 27, 2026.
About SmartCentres
SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 198 strategically located properties in communities across the country. SmartCentres has approximately $12.1 billion in assets consisting of income producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. SmartCentres owns 35.6 million square feet of leasable space with 98.6% in place and committed occupancy, on 3,500 acres of owned land across Canada.
TORONTO, ONTARIO – (February 11, 2026) SmartCentres Real Estate Investment Trust (“SmartCentres”, the “Trust” or the “REIT”) (TSX: SRU.UN) is pleased to report its financial and operating results for the three months and year ended December 31, 2025.
“Reflecting on our 2025 results, I am pleased with our strong financial and operational performance,” said Mitchell Goldhar, CEO of SmartCentres. “Our net operating income has shown steady and consistent growth through the year fueled by strong leasing momentum in all retail categories, resulting in an industry-leading 98.6% in-place and committed occupancy rate at year-end. Same property NOI continued to deliver strong results, growing 3.7% over the year and 5.6% excluding anchor tenants. The strong interest from tenants resulted in leasing 430,000 square feet of vacant space with strong rent growth of 6.3% on lease extensions and an additional 125,000 square feet of new-build retail. Our mixed-use development pipeline continues to add to the bottom-line with the completion of three self-storage facilities in 2025 bringing the total to 14 operating properties with an additional four sites under construction and four in process of obtaining municipal approvals. During Q4, we opened the long awaited new Walmart store at our South Oakville shopping centre. We also strengthened our balance sheet by increasing the unencumbered asset pool to over $10 billion and extending the weighted average term of our debt.”
2025 Fourth Quarter Highlights
Retail Operations
Industry-leading in-place and committed occupancy rate of 98.6% as of December 31, 2025.
Robust customer traffic and a solid tenant base continued to drive Same Properties NOI(1) growth for the three months and year ended December 31, 2025, which increased by 2.9% and 3.7% (5.1% and 5.6% excluding anchors), respectively, compared to the same periods in 2024, primarily due to lease-up and renewal activities mainly from retail properties, as well as stabilization of occupancy levels in self-storage facilities and rentals apartments, partially offset by a higher provision for expected credit loss.
Leasing momentum remained resilient, with approximately 35,500 square feet of vacant space leased during the quarter, resulting in a total of approximately 430,000 square feet leased in 2025. In addition, growing demand for new-build retail continues with approximately 33,000 square feet executed during the quarter, resulting in a total of approximately 125,000 square feet executed during the year.
Lease extensions continued to perform well, with strong rent growth of 8.4% (excluding anchors) and 6.3% (including anchors).
Development
Opened three new self-storage facilities in 2025 at Toronto (Gilbert Ave.), Toronto (Jane St.), and Dorval (St-Regis Blvd.), bringing the total number of operating self-storage properties in the portfolio to 14. Construction of self-storage facilities is underway at Montreal (Notre Dame St. W) and Laval E, Quebec, and at Burnaby and Victoria, British Columbia. The Montreal and Laval E facilities are expected to open in Q2 2026. Both British Columbia projects are expected to open in 2027. The Trust is also in the process of obtaining municipal approvals for four sites in Ontario, British Columbia, and Alberta.
Construction of Phase I of the Vaughan NW townhomes is now virtually complete, with seven units closed in Q4 2025. As at December 31, 2025, a total of 118 out of the 120 units in Phase I have closed.
Construction of the ArtWalk condo Tower A in the Vaughan Metropolitan Centre continues to advance as planned, with approximately 93% of the 340 units pre-sold. The underground parking structure is progressing, the slab-on-grade has been completed, and the first section of the ground floor slab was completed during the quarter. Initial closings on completed units are expected to commence in 2027.
Construction of the 200,000 square foot Canadian Tire flagship store on Laird Drive in Toronto continues on schedule, with possession expected in Q3 2026.
Submitted for Site Plan approval in 2025, for a net new 85,000 square feet (17%) increase in the square footage of Toronto Premium Outlets, for which construction is planned to commence this summer and includes a new four-storey parking garage.
Financial
Net rental income and other for the three months ended December 31, 2025 was $143.6 million, representing an increase of $2.0 million or 1.4% as compared to the same period in 2024. The increase was primarily from lease-up activities and higher net recoveries, partially offset by lower residential sales caused by fewer townhomes closings.
FFO per Unit(1) for the three months ended December 31, 2025, was $0.54 compared to $0.53 for the same period in 2024. The increase was primarily due to higher NOI from lease-up activities and higher net recoveries as well as changes in fair value adjustment on TRS resulting from fluctuations in the Trust’s Unit price, partially offset by higher interest expense, and higher general and administrative expense. FFO with adjustments per Unit(1) for the three months ended December 31, 2025, was $0.54 compared to $0.56 for the same period in 2024. The decrease was mainly attributable to higher net interest expense and general and administrative expense, partially offset by higher NOI.
Net income and comprehensive income for the three months ended December 31, 2025, decreased by $11.7 million as compared to the same period in 2024. The decrease was mainly attributable to a $6.3 million decrease in fair value adjustment on financial instruments for the period, primarily due to mark-to-market adjustments for interest rate swaps and a fair value change in units classified as liabilities due to a decrease in the Trust’s Unit price and a $4.1 million decrease in the fair value gain on investment properties.
Subsequent Event
On January 2, 2026, the Trust announced that several key arrangements with Penguin that were originally scheduled to expire on December 31, 2025, have been extended under their existing terms until February 28, 2026, while negotiations for new five-year terms are ongoing. The extensions apply to the Executive Employment Agreement for Mitchell Goldhar, Executive Chairman and Chief Executive Officer of SmartCentres, the Development Services Agreement supplements, the Penguin Services Agreement, and the Non-Competition Agreement. The Trust also announced that, in accordance with the Declaration of Trust, the Voting Top-Up Right expired on December 31, 2025. As negotiations remain ongoing, the Trust is not in a position to provide further commentary on these matters at this time and will update unitholders when there is material information to disclose.
(1) Represents a non-GAAP measure. The Trust’s method of calculating non-GAAP measures may differ from other reporting issuers’ methods and, accordingly, may not be comparable. For additional information, please see “Non-GAAP Measures” in this Press Release.
Conference Call
Management will hold a conference call on Thursday, February 12, 2026 at 3:00 p.m. (ET).
Interested parties are invited to access the call by dialing 1-855-353-9183 and then keying in the participant access code 69072#.
A recording of this call will be made available Thursday, February 12, 2026 through to Thursday, February 19, 2026. To access the recording, please call 1-855-201-2300, enter the conference access code 69072# and then key in the playback access code 69072#.
About SmartCentres
SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 198 strategically located properties in communities across the country. SmartCentres has approximately $12.1 billion in assets consisting of income producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. SmartCentres owns 35.6 million square feet of leasable space with 98.6% in place and committed occupancy, on 3,500 acres of owned land across Canada.
Non-GAAP Measures
The non-GAAP measures used in this Press Release, including but not limited to, AFFO, AFFO with adjustments, AFFO per Unit, AFFO with adjustments per Unit, Payout Ratio to AFFO, Payout Ratio to AFFO with adjustments, Unencumbered Assets, NOI, Debt to Aggregate Assets, Interest Coverage Ratio, Adjusted Debt to Adjusted EBITDA, Unsecured/Secured Debt Ratio, FFO, FFO with adjustments, FFO per Unit, FFO with adjustments per Unit, Net Asset Value (“NAV”), Same Properties NOI, Same Properties NOI excluding Anchors, Debt to Gross Book Value, Weighted Average Interest Rate, Transactional FFO, and Total Proportionate Share, do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”) and are therefore unlikely to be comparable to similar measures presented by other issuers. Additional information regarding these non-GAAP measures is available in the Management’s Discussion and Analysis of the Trust for the year ended December 31, 2025, dated February 11, 2026 (the “MD&A”), and is incorporated by reference. The information is found in the “Presentation of Certain Terms Including Non-GAAP Measures” and “Non-GAAP Measures” sections of the MD&A, which is available on SEDAR+ at www.sedarplus.ca. Reconciliations of non-GAAP financial measures to the most directly comparable IFRS measures are found in “Reconciliations of Non-GAAP Measures” of this Press Release.
Full reports of the financial results of the Trust for the year ended December 31, 2025 are outlined in the consolidated financial statements and the related MD&A of the Trust for the year ended December 31, 2025, which are available on SEDAR+ at www.sedarplus.ca.
Certain statements in this Press Release are “forward-looking statements” that reflect management’s expectations regarding the Trust’s future growth, results of operations, performance and business prospects and opportunities. More specifically, certain statements including, but not limited to, statements related to SmartCentres’ expectations relating to cash collections, SmartCentres’ expected or planned development plans and joint venture projects, including the described type, scope, costs and other financial metrics and the expected timing of construction and condo closings and statements that contain words such as “could”, “should”, “can”, “anticipate”, “expect”, “believe”, “will”, “may” and similar expressions and statements relating to matters that are not historical facts, constitute “forward-looking statements”. These forward-looking statements are presented for the purpose of assisting the Trust’s Unitholders and financial analysts in understanding the Trust’s operating environment and may not be appropriate for other purposes. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management.
However, such forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including risks associated with potential acquisitions not being completed or not being completed on the contemplated terms, public health crises, real property ownership and development, debt and equity financing for development, interest and financing costs, construction and development risks, and the ability to obtain commercial and municipal consents for development. These risks and others are more fully discussed under the heading “Risks and Uncertainties” and elsewhere in SmartCentres’ most recent Management’s Discussion and Analysis, as well as under the heading “Risk Factors” in SmartCentres’ most recent annual information form. Although the forward-looking statements contained in this Press Release are based on what management believes to be reasonable assumptions, SmartCentres cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. These forward-looking statements are made as at the date of this Press Release and SmartCentres assumes no obligation to update or revise them to reflect new events or circumstances unless otherwise required by applicable securities legislation.
Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking information may include, but are not limited to: a stable retail environment; a continuing trend toward land use intensification, including residential development in urban markets and continued growth along transportation nodes; access to equity and debt capital markets to fund, at acceptable costs, future capital requirements and to enable our refinancing of debts as they mature; that requisite consents for development will be obtained in the ordinary course, construction and permitting costs consistent with the past year and recent inflation trends.
Toronto, Ontario (January 16, 2026) – SmartCentres Real Estate Investment Trust (“SmartCentres”) (TSX: SRU.UN) announced today that the trustees of SmartCentres have declared a distribution for the month of January 2026 of $0.15417 per unit, representing $1.85 per unit on an annualized basis. The distribution will be payable on February 17, 2026 to unitholders of record as at January 30, 2026.
About SmartCentres
SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 197 strategically located properties in communities across the country. SmartCentres has approximately $12.1 billion in assets consisting of income producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. SmartCentres owns 35.6 million square feet of leasable space with 98.6% in place and committed occupancy, on 3,500 acres of owned land across Canada.
Toronto, Ontario (January 15, 2026) – SmartCentres Real Estate Investment Trust (“SmartCentres”) (TSX: SRU.UN) announced today that it will be reporting its financial results for the three months and year ended December 31, 2025 after the market closes on Wednesday, February 11, 2026.
SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 197 strategically located properties in communities across the country. SmartCentres has approximately $12.1 billion in assets consisting of income producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. SmartCentres owns 35.6 million square feet of leasable space with 98.6% in place and committed occupancy, on 3,500 acres of owned land across Canada.
Toronto, Ontario (January 02, 2026) – The Board of Trustees of SmartCentres Real Estate Investment Trust (“SmartCentres”, the “Trust” or the “REIT”) (TSX: SRU.UN) today provided an update regarding certain five year arrangements between the Trust and Mitchell Goldhar, Executive Chairman and CEO of SmartCentres and owner of Penguin Group of Companies (“Penguin”) that were scheduled to expire on December 31, 2025.
Discussions are ongoing between the Independent Committee of the Board of Trustees (the “Board”) and Mr. Goldhar and Penguin regarding a new five-year employment agreement for Mr. Goldhar, as well as in respect of a number of other existing agreements, and the parties have agreed to extend the existing Executive Employment Agreement for Mr. Goldhar and those other agreements until February 28, 2026. Those other existing agreements include Development Services Agreement supplements, Penguin Services Agreement and the Non-Competition Agreement.
Summaries of these arrangements can be found in the REIT’s most recent Annual Information Form available under the REIT’s profile on SEDAR+ (www.sedarplus.ca). Details of the terms of these arrangements when last renegotiated and implemented can be found in the REIT’s Management Information Circular dated November 6, 2020 filed on SEDAR+ in connection with the REIT’s annual and special unitholders meeting held on December 9, 2020, at which meeting, among other things, the Voting Top-Up Right granted to Mr. Goldhar and related amendments to the REIT’s Declaration of Trust were approved by unitholders.
While also under discussion, the extension of the Voting Top-Up Right under the REIT’s Declaration of Trust would require disinterested Unitholder approval, which has not been sought or obtained to date, and thus this right has expired.
Operational Continuity Maintained The extension of the existing agreements ensures seamless continuity of operations and ongoing development activities. All current business activities, including development projects and strategic partnerships, remain on track under the terms of the existing arrangements until February 28, 2026.
Independent Committee Oversight The Independent Committee of the Board, composed entirely of independent trustees, is overseeing the discussions on behalf of the REIT with Penguin and Mr. Goldhar.
About SmartCentres SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 197 strategically located properties in communities across the country. SmartCentres has approximately $12.1 billion in assets and owns 35.6 million square feet of income producing value-oriented retail and first-class office properties with 98.6% in place and committed occupancy, on 3,500 acres of owned land across Canada.
Certain statements in this Press Release are “forward-looking statements” that reflect management, the Board and the Independent Committee’s expectations regarding the Trust’s future arrangements, growth, operations, performance and business prospects and opportunities. More specifically, certain statements including, but not limited to, statements related to ongoing discussions with Mr. Goldhar and Penguin, the potential outcomes, terms and timing of these discussions or any existing or new arrangements resulting therefrom, the timing and business of any potential meeting of unitholders, the expected maintenance of operational continuity and the focus of the Board and Independent Committee and statements that contain words such as “could”, “should”, “can”, “anticipate”, “expect”, “ensures”, “believe”, “will”, “may” and similar expressions and statements relating to matters that are not historical facts, constitute “forward-looking statements”.
Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking information may include, but are not limited to: continued performance of the parties in the ordinary course in accordance with the terms of the existing arrangements, as extended; expectations regarding ongoing constructive discussions between the Trust and Mr. Goldhar and Penguin; and the likelihood of a mutually acceptable outcome on or before the agreed February 28, 2026 extension date.
Such forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including that the discussions between the parties could be unsuccessful; that the existing agreements could be terminated in accordance with their terms and that Mr. Goldhar does not remain with the Trust; that the terms of any amended, extended, supplemented or replaced definitive agreements could be on terms and conditions less favourable to the Trust than current arrangements; that the parties may not complete discussions or that definitive agreements may not be reached on or before the agreed extension date, or at all, or that one or more further extensions may be required; and the potential effects and outcomes, including on the Trust’s unit price and trading liquidity, arising from the discussions between the parties. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive. Readers should consult the more complete discussion of the Trust’s business, financial condition and prospects under the heading “Risks and Uncertainties” and elsewhere in SmartCentres’ most recent Management’s Discussion and Analysis, as well as under the heading “Risk Factors” in SmartCentres’ most recent annual information form. Although the forward-looking statements contained in this Press Release are based on what management believes to be reasonable assumptions, SmartCentres cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. These forward-looking statements are made as at the date of this Press Release and SmartCentres assumes no obligation to update or revise them to reflect new events or circumstances unless otherwise required by applicable securities legislation.
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