Granite REIT Announces the Renewal of Its At-The-Market Equity Program

Executive Summary

• Granite Real Estate Investment Trust announced the renewal of its $250 million at‑the‑market (ATM) equity distribution program, effective through December 24 2026.
• The program allows Granite to issue and sell up to $250 million of units in Canada on a discretionary basis, with proceeds earmarked for future acquisitions, development activity, repayment of credit facility draws, and general trust purposes.
• The renewal was filed via a prospectus supplement to the Trust’s base shelf prospectus dated November 27 2024 and is supported by an equity distribution agreement with BMO Capital Markets, Scotiabank, and TD Securities Inc.

Key Details

• Program Size: Up to $250 million of units may be issued and sold under the ATM program.
• Effective Period: The renewed program runs from February 25 2026 until December 24 2026, unless terminated earlier per the distribution agreement.
• Distribution Mechanics: Units will be sold at prevailing market prices through the Toronto Stock Exchange or other recognized Canadian marketplaces, pursuant to National Instrument 44‑102 – Shelf Distributions.
• Agents: BMO Capital Markets, Scotiabank, and TD Securities Inc. serve as the agents under the equity distribution agreement dated February 25 2026.
• Use of Proceeds: Net proceeds (if any) are intended for:
• Funding potential future acquisitions,
• Supporting development activity,
• Repaying draws on Granite’s credit facility, and
• General trust purposes.
• Regulatory Filing: Prospectus supplement filed to renew the ATM program; available on SEDAR+ and from the agents upon request.
• TSX Approval: The Toronto Stock Exchange has conditionally approved listing of the units that may be sold under the renewed program.

Notable Quotes

(No executive quotes were included in the release.)