RioCan Real Estate Investment Trust Announces Renewal of Normal Course Issuer Bid

Executive Summary

• RioCan Real Estate Investment Trust received TSX approval to commence a normal‑course issuer bid (NCIB) for up to 29,319,995 Units (≈10% of the public float).
• The bid may start on 12 Nov 2025 and run for up to 12 months, with daily purchase limits of 155,941 Units and one weekly block‑purchase exception.
• Purchases will be funded from cash and undrawn credit facilities; units bought may be cancelled or used to satisfy the Restricted Equity Unit Plan and Performance Equity Unit Plan.

Key Details

• Authorized Quantity: Up to 29,319,995 Units (≈10% of 293,199,954 public float as of 31 Oct 2025).
• Purchase Window: Begins 12 Nov 2025; terminates 11 Nov 2026 or earlier if the full amount is acquired/termination notice given.
• Daily Maximum: 155,941 Units (25% of average daily volume of 623,766 Units over the prior six months).
• Weekly Block Purchase: One block purchase per calendar week may exceed the daily limit, subject to RioCan’s discretion and regulatory compliance.
• Funding Sources: Available cash balances and undrawn credit facilities; no external financing required.
• Use of Acquired Units: Cancelled upon purchase or allocated to satisfy obligations under the Restricted Equity Unit Plan and Performance Equity Unit Plan.
• Previous NCIB: Expired 11 Nov 2025; authorized 29,878,867 Units; RioCan purchased 5,559,193 Units at a weighted‑average price of $17.99.
• Automatic Securities Purchase Plan (ASPP): Implemented immediately; pre‑cleared by TSX; purchases made by designated broker under preset parameters and counted toward NCIB totals.
• Regulatory Compliance: All acquisitions to be executed via TSX facilities or a Canadian alternative trading system, adhering to applicable securities laws and TSX rules.

Notable Quotes

(No direct quotes were provided in the release.)