Primaris REIT Announces Closing of Over-Allotment Option

Executive Summary

• Primaris Real Estate Investment Trust closed the issuance of an additional 1,448,599 units, generating approximately $21.4 million in gross proceeds.
• The over‑allotment exercise raises total gross proceeds from the October 10, 2025 offering to about $168.9 million.
• Net proceeds are earmarked to pay down debt incurred for the recent acquisition of Promenades St‑Bruno.

Key Details

• Units Issued: 1,448,599 trust units (additional to the original 10,000,000‑unit offering).
• Gross Proceeds from Over‑Allotment: ~ $21.4 million.
• Total Gross Proceeds of Offering (including over‑allotment): ~ $168.9 million.
• Use of Net Proceeds: Debt repayment related to the acquisition of Promenades St‑Bruno.
• Underwriters’ Over‑Allotment Option: Fully exercised by the syndicate.
• Lead Bookrunners: TD Securities Inc., RBC Capital Markets, Desjardins Capital Markets.
• Syndicate Members: CIBC Capital Markets, Scotiabank, National Bank Financial Inc., Canaccord Genuity Corp., Raymond James Ltd.
• Offering Structure: Units offered across all Canadian provinces and territories under a prospectus supplement dated October 7, 2025, filed pursuant to Primaris’ short‑form base shelf prospectus (dated August 6, 2024).
• Regulatory Filings: Prospectus supplement available on SEDAR+ (www.sedarplus.com).

Notable Quotes

(No direct quotes were provided in the release.)