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SUMMARY INFORMATION PACKAGEQuarter ended December 31, 2017

Shaping the Future

Q4

Table of Contents

NOTE:This document is to be read in conjunction with the 2017 Annual Report to Unitholders for Choice Properties Real Estate Investment Trust (“Choice Properties REIT”)

Item Slide Number

Forward-Looking Statements 3

Q4 2017 Conference Call – February 14, 10:00AM

Q4 2017 Highlights 4

Development Activity 5

Acquisition Activity 7

Leasing Activity 8

Financial Results – Summary 9

Financial Results – Same Property NOI 10

Capital Structure 11

Summary Information:

Portfolio Highlights 12

Base Rent by Province & Top 10 Non-Loblaw Tenants

13

Lease Expiration Schedule 14

Liquidity and Debt Maturity Profile 15

Financial Statements 18

Individual Property Summary 21

2

Forward-Looking Statements

This document and the Annual Report, including the MD&A, contains forward-looking statements about Choice Properties’objectives, outlook, plans, goals, aspirations, strategies, financial condition, results of operations, cash flows, performance,prospects, opportunities and legal and regulatory matters. Specific statements with respect to anticipated future results can be foundin various sections of the MD&A, including but not limited to Section 3 “Objectives and Strategy”, Section 5 “Investment Properties”,Section 6 “Consolidated Results of Operations”, Section 7 “Other Measures of Performance”, Section 8 “Liquidity and CapitalResources”, Section 9 “Quarterly Results of Operations” and Section 16 “Outlook”. Forward-looking statements are typicallyidentified by words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”,“will”, “may”, “should” and similar expressions, as they relate to Choice Properties and its management.

Forward-looking statements reflect Choice Properties’ current estimates, beliefs and assumptions, which are based onmanagement’s perception of historic trends, current conditions, outlook and expected future developments, as well as other factors itbelieves are appropriate in the circumstances. Choice Properties’ expectation of operating and financial performance is based oncertain assumptions, including assumptions about the Trust’s future growth potential, prospects and opportunities, industry trends,future levels of indebtedness, tax laws, economic conditions and competition. Management’s estimates, beliefs and assumptions areinherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future eventsand as such, are subject to change. Choice Properties can give no assurance that such estimates, beliefs and assumptions willprove to be correct.

Numerous risks and uncertainties could cause the Trust’s actual results to differ materially from those expressed, implied orprojected in the forward-looking statements, including those described in the “Enterprise Risks and Risk Management” section ofChoice Properties’ 2017 Annual Report and the Trust’s Annual Information Form (“AIF”) for the year ended December 31, 2017.Such risks and uncertainties include:

• changes in timing to obtain municipal approvals, development costs, and tenant leasing and occupancy of properties underdevelopment, redevelopment, or intensification;

• failure to manage its growth effectively in accordance with its growth strategy or acquire assets on an accretive basis;• changes in economic conditions, including changes in interest rates, and the rate of inflation;• shifting consumer preferences toward electronic commerce may result in a decrease in demand for physical space by retail

tenants;• failure to realize benefits from investments in Choice Properties’ new Information Technology (“IT”) systems, the inability of

Choice Properties’ IT infrastructure to support the requirements of Choice Properties’ business;• changes in Choice Properties’ competitiveness in the real estate market or the unavailability of desirable commercial real

estate assets;• failure of third-party vendors, developers, co-owners or strategic partners to provide adequate services at optimal rates,

complete projects or fulfill contractual obligations;• the inability of Choice Properties Limited Partnership to make distributions or other payments or advances;• the inability of Choice Properties to obtain financing;• the inability of Choice Properties to maintain and leverage its relationship with Loblaw Companies Limited (“Loblaw”),

including in respect of: (i) Loblaw’s retained interest in Choice Properties; (ii) the services to be provided to Choice Properties(whether directly or indirectly) by Loblaw; (iii) expected transactions to be entered into between Loblaw and ChoiceProperties (including Choice Properties’ acquisition of certain properties held by Loblaw); and (iv) the Strategic AllianceAgreement between Choice Properties and Loblaw;

• changes in Loblaw’s business, activities or circumstances which may impact Choice Properties, including Loblaw’s inability tomake rent payments or perform its obligations under its leases;

• changes in laws or regulatory regimes, which may affect Choice Properties, including changes in the tax treatment of theTrust and its distributions to Unitholders or the inability of the Trust to continue to qualify as a “mutual fund trust” and as a“real estate investment trust”, as such terms are defined in the Income Tax Act (Canada);

• changes in Choice Properties’ capital expenditure and fixed cost requirements; and• changes in Choice Properties’ degree of financial leverage.

This is not an exhaustive list of the factors that may affect Choice Properties’ forward-looking statements. Other risks anduncertainties not presently known to Choice Properties could also cause actual results or events to differ materially from thoseexpressed in its forward-looking statements. Additional risks and uncertainties are discussed in Choice Properties’ materials filedwith the Canadian securities regulatory authorities from time to time, including the Trust’s 2017 AIF. Readers are cautioned not toplace undue reliance on these forward-looking statements, which reflect Choice Properties’ expectations only as of the date of theAnnual Report. Except as required by applicable law, Choice Properties does not undertake to update or revise any forward-lookingstatements, whether as a result of new information, future events or otherwise.

3

Q4 2017 Highlights

Delivered solid year-over-year growth in key financial metrics Rental revenue: $211.0 million, up 6.7% compared to $197.7

million for Q4 2016. NOI: $152.8 million, up 9.4% compared to $139.7 million for Q4

2016.

NOI, same properties, same GLA: $140.1 million, up 3.4% compared to $135.4 million for Q4 2016.

FFO per unit diluted: $0.282, an increase of $0.031 or 12.4% compared to $0.251 for Q4 2016.

Achievements Development: Constructed 63,000 square feet of GLA for

projects expected to be completed in 2018, delivering 19 new retail spaces for third-party tenants.

Acquisitions: Acquired seven investment properties for a combined purchase price of $80.0 million, adding 321,000 square feet of GLA and 80,000 square feet of development opportunity.

Active Management: Entered into leases during the quarter representing approximately 140,000 square feet of GLA and increased the occupancy rate to 91.1% for ancillary space (Q4 2016 – 90.0%). Total portfolio occupancy rate remains high at 98.9%.

4

Angus, ON

Development ActivityGLA Constructed in Q4 2017

Prince Albert, SK

Oshawa, ON

Aylmer, ON

Ancienne Lorette, QC

5Source: Choice Properties REIT, 2017 Annual Report to Unitholders

City Province Key Tenants Constructed in Q4

15th St. Prince Albert Saskatchewan 3,000 Burger KingJohn St. N Aylmer Ontario 2,000 A&WGibb St. Oshawa Ontario 11,000 East Side Mario's, Fat Bastard Burrito, Ten Spot, Sherwin WilliamsMill St. Angus Ontario 2,900 Harvey / Swiss20th Side Rd. Innisfil Ontario 12,400 Harvey Swiss, Starbucks, GreatClips, Pizza Nova, Global Pet FoodsAut Duplessis Ancienne Lorette Quebec 4,800 Mike'sRue Bouvier Lebourghnought Quebec 16,000 Dollarama, Barbie's Bar & GrillBoul Brien Repentigny Quebec 6,300 ScoresWelton St. Sydney Nova Scotia 4,600 Montana'sTotal 63,000

Constructed Development

GLA (sf)Q4 2017

GLA constructed in Q4 2017

Development ActivitySummary

Development Progress

Source: Choice Properties REIT, 2017 Annual Report to Unitholders

Development Plan($ thousands except where otherwise indicated) (unaudited) 2018 2019 2020 TotalPotential development GLA (in square feet) 366,000 367,000 296,000 1,029,000Estimated total project capital 121,600$ 113,600$ 118,100$ 353,300$ Expected NOI yield 6% - 9% 6% - 9% 6% - 9% 6% - 9%Estimated total capital annual spend 198,000$ 204,000$ 250,000$ 652,000$

6

As at or for the year ended December 31, 2017:

Acquisition Activity Summary


The following table summarizes the investment properties acquired in the year ended December 31, 2017.

Q4 Acquisitions: Two retail properties from third-party vendors, which were immediately accretive, with a weighted average

capitalization rate of 6.2%. Added 77,000 square feet of GLA including a Loblaw lease of 20,000 square feet.

Five properties from Loblaw, including three immediately accretive retail properties with a weighted average capitalization rate of 6.4%, and two parcels of land for development. Added three Loblaw food stores with GLA of 244,000 square feet. 80,000 square feet of development opportunity.

7

Leasing Activity

Source: Choice Properties REIT, 2017 Annual Report to Unitholders 8

Financial ResultsSummary


December 31, 2017Investment properties fair value ($000's) $ 9,551,000 Weighted average overall capitalization rate 6.07%

Number of properties 546 Gross Leasable Area (sq. ft. - millions) 44.1

(1) Refer to Section 17, “Non-GAAP Financial Measures”, of the MD&A in the 2017 Annual Report.

9

Financial ResultsSame Property NOI


The number of Same Properties was 526 and 515 for the three months and years ended, respectively, ended December 31, 2017 and December 31, 2016. The following table analyzes the components of NOI:

(i) Properties acquired subsequent to September 30, 2016 (see Section 18, “Additional Information”, of the MD&A in the 2017 Annual Report) net of disposition inNovember 2017 (see Section 5.5, “Dispositions of Investment Properties”, of the MD&A in the 2017 Annual Report).

(ii) Same Properties’ rental revenue for the three months ended December 31, 2017 included $3,100 of lease surrender revenue related to a property underdevelopment, of which, $930 was attributable to the non-controlling interests.

(iii) GLA developed in the comparative periods.

(i) Properties acquired subsequent to December 31, 2016 (see Section 18, “Additional Information”, of the MD&A in the 2017 Annual Report) net of disposition inNovember 2017 (see Section 5.5, “Dispositions of Investment Properties”, of the MD&A in the 2017 Annual Report).

(ii) Same Properties’ rental revenue for the year ended December 31, 2017 included $3,100 of lease surrender revenue related to a property under development, ofwhich, $930 was attributable to the non-controlling interests.

(iii) GLA developed in the comparative periods.

10

Capital Structure


As at or for the year endedDecember 31, 2017

Total assets ($000's) 9,923,511$

(Unaudited)

Debt to total assets (i) 44.3%Debt service coverage (i) 3.7xDebt to Earnings Before Interest, Taxes, Depreciation and Amortization and Fair Value (i) 7.1x

Indebtedness - weighted average term to maturity (ii) 4.5 yearsIndebtedness - weighted average coupon rate 3.62%

(i) Debt ratios include Class C LP Units but exclude Exchangeable Units. These ratios are non-GAAP financial measures calculated based on the Trust Indentures, as supplemented.

(ii) Indebtedness reflects senior unsecured debentures only.

(ii)

11

Summary Information – Q4 2017Portfolio Highlights


(Unaudited)

As at or for the quarterended December 31, 2017

Number of properties 546 Gross Leasable Area (millions of sq. ft.) 44.1Occupancy 98.9%Remaining weighted average lease term - years 10.0 Average base rent (per occupied sq ft) $ 13.51 $000's

Investment properties $ 9,551,000 Total assets $ 9,923,511 Debt (i) $ 8,557,754 Unitholders’ Equity $ 928,280

Units outstanding (weighted average - diluted) 414,285,762FFO per unit (diluted) $ 0.282Distributions declared per unit $ 0.1850 Payout ratio (FFO) 65.6%

(i) Includes Exchangeable Units and credit facilities, but excludes trade payables

12

Summary Information – Q4 2017Base Rent by ProvinceTop 10 Non-Loblaw Tenants

Source: Choice Properties REIT

Tenant NamePercentage of Total

Base RentNumber of Locations

Goodlife Fitness 0.76% 18Dollarama 0.69% 30LCBO 0.50% 12SAQ 0.42% 14TD Canada Trust 0.40% 17Giant Tiger 0.26% 8TJX Companies 0.26% 5ACE Bakery Limited1 0.25% 1Staples 0.25% 7Dollar Tree 0.23% 11Grand Total 4.02% 123

Alberta, 12.5%

Atlantic Provinces, 9.5%

British Columbia, 10.9%

Manitoba, 3.0%

Ontario, 42.3%

Quebec, 16.3%

Saskatchewan, 5.2% Territories, 0.3%

Base Rent By Province(i)

(i) For the year ended December 31, 2017, including straight-line rent.

13

1 Related party tenant

Summary Information – Q4 2017Lease Expiration Schedule


YearAncillary GLA Expiring (sq.ft)

Percentage of Ancillary GLA

Percentage of Total GLA

Month-to-month 137,000 2.5% 0.3%2018 535,000 9.8% 1.2%2019 345,000 6.3% 0.8%2020 740,000 13.6% 1.7%2021 496,000 9.1% 1.1%2022 550,000 10.1% 1.3%2023 & Beyond 2,156,000 39.7% 4.9%Vacant 485,000 8.9% 1.1%Grand Total 5,444,000 100% 12.4%

14

Summary Information – Q4 2017Liquidity and Debt Maturity Profile


Debt and Class C LP Units Maturity Profile

Debt and Class C LP Units Repayment Schedule

In thousands of Canadian dollarsBalance at

December 31, 2017 Maturity DateSenior unsecured debentures 400,000$ Series A - due July 5, 2018

200,000 Series B - due July 5, 2023250,000 Series C - due February 8, 2021200,000 Series D - due February 8, 2024250,000 Series E - due September 14, 2020200,000 Series F - due November 24, 2025250,000 Series G - due March 7, 2023100,000 Series H - due March 7, 2046200,000 Series 7 - due September 20, 2019300,000 Series 8 - due April 20, 2020200,000 Series 9 - due September 20, 2021300,000 Series 10 - due September 20, 2022

Mortgages payable 1,736 December 1, 20196,584 August 5, 2020

Class C LP Units 925,000 No fixed maturity date (redemption dates begin July 2027)

Total Debt Principal 3,783,320$

15



As at December 31, 2017


Source: Choice Properties REIT, 2017 Annual Report to Unitholders17

Subsequent Events

Proforma Debt Maturity Profile

On January 12, 2018, Choice Properties issued $300 million and $350 million aggregate principalamount of Series I and J senior unsecured debentures due March 21, 2022 and January 10, 2025,respectively. The Series I unsecured debentures bear interest at a rate of 3.010% per annum and theSeries J unsecured debentures bear interest at a rate of 3.546% per annum.

On February 12, 2018, Choice Properties completed the early retirement of Series A senior unsecureddebentures at a redemption price equal to $1,007.200 per $1,000 principal amount of Series Adebentures, together with accrued and unpaid interest.

At December 31, 2017, Choice Properties also had a bi-lateral $250,000 senior unsecured committedrevolving credit facility with a major Canadian financial institution maturing December 21, 2018.Subsequent to December 31, 2017, the Trust repaid and cancelled this credit facility.

(i) Liquidity excludes Cash and cash equivalents

As at February 13, 2018

(i)

Summary Information – Q4 2017Financial Statements

Choice Properties Real Estate Investment TrustConsolidated Balance Sheets



Choice Properties Real Estate Investment Trust Consolidated Statements of Income (Loss) and Comprehensive Income (Loss)


(1) The Class B LP Units of the Trust’s subsidiary, Choice Properties Limited Partnership, are exchangeable into Trust Units at the option of the holder. Loblaw holds all of the Exchangeable Units. These Exchangeable Units are considered puttable instruments and are required to be classified as financial liabilities at fair value through profit or loss. The distributions paid on the Exchangeable Units are accounted for as interest expense.


Choice Properties Real Estate Investment Trust Consolidated Statements of Cash Flows


(unaudited) (audited) (in thousands of Canadian dollars)

Three months ended Three months ended Year ended Year ended December 31, 2017 December 31, 2016 December 31, 2017 December 31, 2016

Operating Activities Net income (loss) $ 36,533 $ 255,574 $ 405,345 $ (223,072 ) Straight-line rental revenue (8,092 ) (9,159 ) (34,740 ) (36,582 ) Amortization of tenant improvement allowances 206 207 796 572 Amortization of other assets 235 233 934 930 Net interest expense and other financing charges 100,397 97,028 394,826 372,842 Interest and other income (2,744 ) (586 ) (4,829 ) (2,309 ) Value of unit-based compensation granted 1,427 634 4,261 7,461 Share of loss (income) from joint venture (574 ) (80 ) 491 (13,720 ) Adjustment to fair value of Exchangeable Units 19,026 (107,800 ) (38,212 ) 529,591 Adjustment to fair value of investment properties 2,504 (101,661 ) (160,254 ) (109,045 ) Interest and other income received 2,680 13 4,431 102 Net change in non-cash working capital 43,179 99,364 (68,735 ) 3,852

Cash Flows from Operating Activities 194,777 233,767 504,314 530,622 Investing Activities

Acquisitions of investment properties (59,797 ) (43,873 ) (107,013 ) (183,688 ) Additions to investment properties (67,414 ) (62,522 ) (166,272 ) (193,120 ) Additions to fixtures and equipment (492 ) (46 ) (638 ) (384 ) Equity investment distribution (contribution) (9,800 ) — (13,760 ) 4,000 Proceeds of disposition 3,434 — 38,179 —

Cash Flows used in Investing Activities (134,069 ) (106,441 ) (249,504 ) (373,192 ) Financing Activities

Long term debt Issued - Senior unsecured debentures, net of debt placement costs —

(140 ) —

347,714

Principal repayments - Senior unsecured debentures —

—

(200,000 ) (300,000 )

Principal repayments - Mortgage (244 ) (311 ) (1,208 ) (1,212 ) Gain on settlement of bond forward contracts — — — 2,682

Credit facilities Net advances 41,000 (31,000 ) 389,000 172,000 Debt placement costs — — (275 ) (275 )

Change in bank indebtedness (269 ) — — — Notes receivable

Issued to related party (70,391 ) (67,954 ) (277,588 ) (263,574 ) Repaid by related party — — 263,574 248,463

Trust Unit issuance costs — 133 — — Cash received on exercise of options 210 — 235 732 Cash paid on vesting of restricted units (19 ) — (1,161 ) (1,493 ) Interest paid (12,737 ) (13,893 ) (163,237 ) (156,297 ) Distributions paid on Exchangeable Units — — (217,324 ) (202,204 ) Distributions paid to Unitholders (11,851 ) (10,847 ) (45,532 ) (43,222 ) Contribution from non-controlling interests — 15 — 15

Cash Flows used in Financing Activities (54,301 ) (123,997 ) (253,516 ) (196,671 ) Change in cash and cash equivalents 6,407 3,329 1,294 (39,241 ) Cash and cash equivalents, beginning of year — 1,784 5,113 44,354 Cash and Cash Equivalents, end of year $ 6,407 $ 5,113 $ 6,407 $ 5,113

20

(unaudited)

(audited)

(in thousands of Canadian dollars)

Three months ended

Three months ended

Year ended

Year ended

December 31, 2017

December 31, 2016

December 31, 2017

December 31, 2016

Operating Activities

Net income (loss)

$

36,533

$

255,574

$

405,345

$

(223,072

)

Straight-line rental revenue

(8,092

)

(9,159

)

(34,740

)

(36,582

)

Amortization of tenant improvement allowances

206

207

796

572

Amortization of other assets

235

233

934

930

Net interest expense and other financing charges

100,397

97,028

394,826

372,842

Interest and other income

(2,744

)

(586

)

(4,829

)

(2,309

)

Value of unit-based compensation granted

1,427

634

4,261

7,461

Share of loss (income) from joint venture

(574

)

(80

)

491

(13,720

)

Adjustment to fair value of Exchangeable Units

19,026

(107,800

)

(38,212

)

529,591

Adjustment to fair value of investment properties

2,504

(101,661

)

(160,254

)

(109,045

)

Interest and other income received

2,680

13

4,431

102

Net change in non-cash working capital

43,179

99,364

(68,735

)

3,852

Cash Flows from Operating Activities

194,777

233,767

504,314

530,622

Investing Activities

Acquisitions of investment properties

(59,797

)

(43,873

)

(107,013

)

(183,688

)

Additions to investment properties

(67,414

)

(62,522

)

(166,272

)

(193,120

)

Additions to fixtures and equipment

(492

)

(46

)

(638

)

(384

)

Equity investment distribution (contribution)

(9,800

)

—

(13,760

)

4,000

Proceeds of disposition

3,434

—

38,179

—

Cash Flows used in Investing Activities

(134,069

)

(106,441

)

(249,504

)

(373,192

)

Financing Activities

Long term debt

Issued - Senior unsecured debentures, net of debt placement costs

—

(140

)

—

347,714

Principal repayments - Senior unsecured debentures

—

—

(200,000

)

(300,000

)

Principal repayments - Mortgage

(244

)

(311

)

(1,208

)

(1,212

)

Gain on settlement of bond forward contracts

—

—

—

2,682

Credit facilities

Net advances

41,000

(31,000

)

389,000

172,000

Debt placement costs

—

—

(275

)

(275

)

Change in bank indebtedness

(269

)

—

—

—

Notes receivable

Issued to related party

(70,391

)

(67,954

)

(277,588

)

(263,574

)

Repaid by related party

—

—

263,574

248,463

Trust Unit issuance costs

—

133

—

—

Cash received on exercise of options

210

—

235

732

Cash paid on vesting of restricted units

(19

)

—

(1,161

)

(1,493

)

Interest paid

(12,737

)

(13,893

)

(163,237

)

(156,297

)

Distributions paid on Exchangeable Units

—

—

(217,324

)

(202,204

)

Distributions paid to Unitholders

(11,851

)

(10,847

)

(45,532

)

(43,222

)

Contribution from non-controlling interests

—

15

—

15

Cash Flows used in Financing Activities

(54,301

)

(123,997

)

(253,516

)

(196,671

)

Change in cash and cash equivalents

6,407

3,329

1,294

(39,241

)

Cash and cash equivalents, beginning of year

—

1,784

5,113

44,354

Cash and Cash Equivalents, end of year

$

6,407

$

5,113

$

6,407

$

5,113

Summary Information – Q4 2017Individual Property Summary

The tables set forth information concerning Choice Properties’Properties as at December 31, 2017. The first table,“Stand-Alone Properties” summarizes all of the Properties thatare either a single-tenant retail, or have a stand-alone storeoperating under a Loblaw-Owned Banner (including ShoppersDrug Mart) with no additional third-party tenants. The secondtable, “Multi-Tenant Properties”, summarizes each of theProperties that is anchored by a store or warehouse operatingunder a Loblaw-Owned Banner and also contains one ormore additional third-party tenants, as well as eight propertiesthat are not anchored by a store operating under aLoblaw-Owned Banner. The last slide summarizes non-retailproperties, such as, Industrial, Office and Properties UnderDevelopment (PUD).

Properties in bold font represent acquisitions during thequarter. Properties in red font represent “Stand-AloneProperties” that have converted to “Multi-Tenant Properties”during the quarter.

Source: Choice Properties REIT 21

Summary Information – Q4 2017Individual Property SummaryStand-Alone Properties

Property Banner Year Built GLA Year of Expiry of Lease

Alberta

300 Veterans Blvd. NE, Airdrie Real Canadian Superstore 2005 158,398 20255007-52nd St., Athabasca Your Independent Grocer 2001 40,136 2030

5858 Signal Hill Cntr SW, Calgary Real Canadian Superstore 1997 122,147 20303633 Westwinds Dr. NE, Calgary Real Canadian Superstore 2005 161,951 202515915 Macleod Trail SE, Calgary Real Canadian Superstore 1998 144,531 2029

2928 - 23rd St. NE, Calgary Real Canadian Wholesale Club 1996 50,000 2028

222 - 58th Ave SE, Calgary Real Canadian Wholesale Club 1994 53,114 2027

7005-48th Ave., Camrose Real Canadian Superstore 2001 139,498 20265335-55th St., Cold Lake No Frills 1999 28,561 202916 Superior St., Devon Extra Foods 1997 30,918 20294821 Calgary Trail NW, Edmonton Real Canadian Superstore 1984 151,647 2030403 McConachie Way NW, Edmonton No Frills 2016 28,504 20318121 - 118 Avenue NW, Edmonton Shoppers Drug Mart 2013 10,482 20314431-4th Ave., Edson Extra Foods 1993 39,123 2029100 Westpark Blvd., Fort Saskatchewan Shoppers Drug Mart 2014 17,237 203110702 - 83rd Ave., Grande Prairie No Frills 2010 33,375 2030

12225-99th St., Grande Prairie Real Canadian Superstore 1993 142,108 2028

1103 - 18 St. SE, High River Extra Foods 1995 39,401 202810527 - 100th Ave., Lac La Biche Your Independent Grocer 2001 39,922 20303515 Mayor McGrath Drive S., Lethbridge Real Canadian Superstore 2005 164,227 20241792 Trans Canada Way SE, Medicine Hat Real Canadian Superstore 1993 135,169 20249 Sandstone Gate, Okotoks No Frills 1998 31,084 20297613 – 100th Ave., Peace River No Frills 1994 58,225 20295561 Hwy. #53, Ponoka Extra Foods 1995 38,942 2027

15-6350-67th St., Red Deer Real Canadian Wholesale Club 1997 53,089 2027

3 Clearview Market Way, Red Deer Your Independent Grocer 2012 32,617 2024100-410 Baseline Rd., Sherwood Park Real Canadian Superstore 1998 136,180 20271-110 Campsite Rd., Spruce Grove Real Canadian Superstore 2000 134,941 20285701 – 47th Ave., Stettler No Frills 1995 37,562 203070 Hewlett Park Landing, Sylvan Lake No Frills 2001 37,523 20284734-50 Ave., Vegreville No Frills 2002 40,093 20282601-14th Ave., Wainwright No Frills 2001 39,922 202810851 – 100th St., Westlock Your Independent Grocer 2003 39,922 2030British Columbia2855 Gladwin Rd., Abbotsford Real Canadian Superstore 1989 141,570 2029

221 Highway 16, Burns Lake Real Canadian Wholesale Club 2000 51,241 2030

45779 Luckakuck Way, Chilliwack Real Canadian Superstore 1997 130,022 20262100-17th St. N, Cranbrook Real Canadian Superstore 2003 132,090 20271501 Cook St., Creston Extra Foods 2000 38,798 20301792 – 9th Ave., Fernie Extra Foods 2003 39,922 2030

22


Property Banner Year Built GLA Year of Expiry of Lease7000 – 27th St., Grand Forks Extra Foods 2004 40,374 203032136 Lougheed Hwy., Mission Real Canadian Superstore 1997 130,531 20246435 Metral Dr., Nanaimo Real Canadian Superstore 2002 141,616 20262155 Ferry Ave., Prince George Real Canadian Superstore 1995 139,265 20292335 Maple Dr. E, Quesnel Extra Foods 2004 58,224 203014650 – 104th Ave., Surrey Real Canadian Superstore 2002 147,420 202918765 Fraser Hwy., Surrey Your Independent Grocer 2005 41,029 20317550 King George Blvd., Surrey Real Canadian Superstore 1990 139,332 2028

4524 Feeney Ave., Terrace Real Canadian Wholesale Club 1997 53,904 2030

1460 East Hastings St., Vancouver No Frills 2014 21,060 20313185, 3189 & 3191 Grandview Hwy., Vancouver Real Canadian Superstore 1990 136,570 2027

350 SE Marine Dr., Vancouver Real Canadian Superstore 1989 621,179 20282110 Ryley Ave., Vanderhoof Your Independent Grocer 2000 38,049 20305001 Anderson Way, Vernon Real Canadian Superstore 2005 154,717 2030Manitoba920 Victoria Ave., Brandon Real Canadian Superstore 1992 102,717 202715-1st Ave. NE, Dauphin Extra Foods 1998 28,351 202410th Ave., Swan River Extra Foods 1996 38,056 20301445 Main St., Winnipeg Extra Foods 1981 21,130 2023600 Notre Dame Ave., Winnipeg No Frills 1995 25,346 2031550 Kenaston Blvd., Winnipeg Real Canadian Superstore 1983 86,240 20271578 Regent Ave. W, Winnipeg Real Canadian Superstore 2000 139,695 2029215 St. Anne's Rd., Winnipeg Real Canadian Superstore 1981 146,166 20271035 Gateway Rd., Winnipeg Real Canadian Superstore 1981 103,555 202780 Bison Dr., Winnipeg Real Canadian Superstore 1999 144,723 2029New Brunswick25 Savoie Ave., Atholville Atlantic Superstore 2003 69,541 2031170 Renfrew St., Dalhousie Save Easy 2000 13,800 2024419 Main St., Doaktown Save Easy 1998 10,500 2030116 Main St., Fredericton Atlantic Superstore 1995 45,000 2029408 King George Hwy., Miramichi Atlantic Superstore 1994 48,535 2026520 St. George Blvd., Moncton Atlantic Cash and Carry 1998 20,035 202489 Trinity Dr., Moncton Atlantic Superstore 2001 89,134 203052 rue Rochette, Petit Rocher Save Easy 2002 10,800 2030220 Main St., Plaster Rock Save Easy 1999 6,500 2028417, 425 & 429 Coverdale Rd., Riverview Atlantic Superstore 1994 87,799 202575 Main St., Sackville Save Easy 1960 14,512 2029307 & 313 Main St. E, Shediac No Frills 2000 18,067 2023232 Water St. & 49 Frederick St., St. Andrews Save Easy 2000 13,984 2029

44 Lower Cove Road, Sussex Atlantic Superstore 2006 73,771 20253455 rue Principale, Tracadie Atlantic Superstore 2004 68,594 2026350 Connell St. & 111 Burtt St., Woodstock Atlantic Superstore 1999 82,343 2025Newfoundland166 Conception Bay Hwy, C.B.S. Dominion 1994 59,580 20275 Murphy Square, Corner Brook Dominion 2001 61,087 202717 Cromer Ave., Grand Falls Dominion 1999 44,672 202520 Lake Ave., St. John's Dominion 2007 69,426 2024Northwest Territories, 250 Old Airport Rd., Yellowknife Extra Foods 1995 60,970 2034

23


Property Banner Year Built GLA Year of Expiry of LeaseNova Scotia197 Commercial St., Berwick Save Easy 1996 8,400 202421 Davidson Dr., Bridgewater Atlantic Superstore 1995 70,342 20299 Braemar Dr., Dartmouth Atlantic Superstore 2001 61,445 2029

7111 Chebucto Rd., Halifax Real Canadian Wholesale Club 1998 45,227 2025

43, 45 & 47 Main St., Hantsport Save Easy 2000 6,803 2026451 Main St., Kentville Save Easy 1999 13,933 2031543 Main St., Mahone Bay Save Easy 1993 7,796 2027394 Westville Rd., New Glasgow Atlantic Superstore 1999 90,801 20269064 Commercial St., New Minas Atlantic Superstore 1995 59,845 202950 Paint St., Port Hawkesbury Atlantic Superstore 2000 47,273 20251225 Kings Rd., Sydney Atlantic Superstore 1999 47,189 20275178 Hwy. #3, Upper Tantallon Atlantic Superstore 2002 63,878 2025396 Main St., Wolfville Save Easy 1999 9,378 2029Ontario30 Kingston Rd. W, Ajax Real Canadian Superstore 2003 98,590 2023512 St. Phillipe St., Alfred valu-mart 1999 17,507 203030 King St., Alliston Zehrs 2000 72,247 2029181 Sandwich St. S, Amherstburg No Frills 2002 31,676 2024127 Hastings St. N, Bancroft No Frills 2005 25338 2030319 Blake St., Barrie No Frills 1996 15,824 2030620 Yonge St., Barrie Zehrs Markets 2002 83,640 2031472 Bayfield St., Barrie Zehrs Markets 2001 83,812 2029211 Bell Blvd., Belleville No Frills 1997 45,112 2029487 Queen St. S, Bolton Zehrs Markets 1998 59,827 20272375 Hwy. #2, Bowmanville Loblaws 1998 46,312 2024270 Wellington St., Bracebridge Your Independent Grocer 1980 60,007 2030Highway 88 West, Bradford Zehrs Markets 2012 50,075 2023400 Conestoga Blvd., Cambridge Zehrs Markets 1999 82,422 2030455 McNeely Ave., Carleton Place Your Independent Grocer 2000 71,924 2030726 Principale St., Casselman No Frills 2001 17,954 2030801 St Clair St. N, Chatham Real Canadian Superstore 2005 91,230 2025

31-1 Hwy. #11 W, Cochrane valu-mart 1995 19,953 2030

12 Hurontario St., Collingwood Loblaws 2000 57,795 2028165 Bunker Ave., Corunna No Frills 2005 28,126 20231428 Highway 2, Courtice Shoppers Drug Mart 2009 30,309 203575 Deep River Rd., Deep River valu-mart 1990 22,863 2031227 Main St., Delhi Your Independent Grocer 2006 18,344 2029177 Highway #108 N, Elliot Lake No Frills 2008 32,644 202966 Fourth Ave., Englehart valu-mart 1990 7,968 2030745 Centre St., Espanola Your Independent Grocer 1995 50,503 20273671 Dundas St. W, Etobicoke Loblaws 1998 53,352 2029220 Royal York Rd., Etobicoke No Frills 1990 20,182 20302399 Lake Shore Rd., Etobicoke valu-mart 2007 10,791 20241135 Thompson Rd., Fort Erie No Frills 2002 31,784 2026

171 Guelph St., Georgetown Real Canadian Superstore 2005 113,265 2032

1012 Main St., Geraldton Extra Foods 2006 25,744 2030

24


Property Banner Year Built GLA Year of Expiry of LeaseHwy. #8, Goderich Zehrs Markets 1995 59,773 202840 Meredith St., Gore Bay valu-mart 1990 9,486 2030290 First St. N, Gravenhurst Your Independent Grocer 2000 49,932 2026361 South Service Rd., Grimsby Real Canadian Superstore 2002 90,229 2023160 Main St., Hagersville No Frills 2004 12,213 20295121 Country Rd. #21, Haliburton Your Independent Grocer 2004 35,702 20251124 Main St. E, Hamilton No Frills 1997 19,065 20245200 Hwy. #69 N, Hanmer Your Independent Grocer 1990 45,029 203169 King St., Harrow Shoppers Drug Mart 1979 10,671 20311560 Cameron St., Hawkesbury Your Independent Grocer 2003 60,928 20301521 Highway 11 W, Hearst Your Independent Grocer 2007 50,369 2029131 Howland Dr., Huntsville Your Independent Grocer 2004 69,013 203155 Brunetville Rd., Kapuskasing Your Independent Grocer 2000 41,585 2030665 Philip Place, Kincardine No Frills 1955 25,738 20311048 Midland Ave., Kingston Loblaws 1999 80,766 20301030 Coverdale Dr., Kingston No Frills 1995 37,762 2028300 Main St. E, Kingsville Zehrs Markets 1990 60,646 203115 McChesney Ave., Kirkland Lake Your Independent Grocer 1990 45,157 2030750 Ottawa St. S, Kitchener Zehrs Markets 2002 115,000 203140 Meredith St. E, Little Current valu-mart 2000 10,726 203024 – 65 Regional Rd., Lively Your Independent Grocer 1990 30,768 2030960 Hamilton Rd., London No Frills 1980 20,260 2029825 Oxford St. E, London Real Canadian Superstore 2004 106,903 20267075 Markham Rd., Markham No Frills 2004 55,890 20329186 Highway 93, Midland Shoppers Drug Mart 2009 18,329 20359292 County Rd. #93, Midland Real Canadian Superstore 2003 84,011 2024277 King St., Midland valu-mart 1990 15,617 2029820 Main St. E, Milton Real Canadian Superstore 2003 117,753 20243050 Argentia Rd., Mississauga Real Canadian Superstore 2004 118,244 20245 Main St., Morrisburg valu-mart 1990 18,703 2030504 Main St. N, Mount Forest No Frills 2003 35,313 20301540 Haysville Rd., New Hamburg No Frills 2008 33,838 202618120 Yonge St., Newmarket Real Canadian Superstore 2005 148,922 2026130 Queen St., Niagara on the Lake valu-mart 1999 6,000 20311 Laurentian Ave., North Bay Your Independent Grocer 1995 50,143 2031493 Dundas St. West, Oakville Fortinos 2015 74,439 203290 C-Line, Orangeville No Frills 2004 25,139 2024296 Bank St., Ottawa Your Independent Grocer 1900 43,286 20304270 Innes Rd., Ottawa Real Canadian Superstore 2005 150,368 2026363 Rideau St., Ottawa Loblaws 1994 46,876 2029

1150-16th St. E, Owen Sound Zehrs Markets 1997 63,737 2031

1120 Second Ave. E, Owen Sound Cash and Carry 1997 14,900 2030230 George St. N, Peterborough No Frills 2001 35,325 202913311 Loyalist Parkway, Picton No Frills 2000 26,771 20301244 Hwy. #21, Port Elgin Your Independent Grocer 2004 48,020 203120 Jocelyn Rd., Port Hope Your Independent Grocer 1999 49,773 2029519 Main St., Powassan valu-mart 1990 14,222 2030150 Prescott Centre Dr., Prescott Your Independent Grocer 2002 44,600 2026680 O'Brien Rd., Renfrew No Frills 2004 74,227 2024

25


Property Banner Year Built GLA Year of Expiry of Lease612 Main St., Sauble Beach valu-mart 2009 19,511 203144 Great Northern Rd., Sault Ste. Marie Your Independent Grocer 1999 72,095 2028681 Silver Star Blvd., Scarborough No Frills 2002 55,476 20232742 Eglinton Ave. E, Scarborough No Frills 2000 34,222 20242430 Eglinton Ave. E, Scarborough No Frills 1991 19,906 2023101 Second Line, Shelburne No Frills 2003 31,711 2027125 Queensway E, Simcoe Real Canadian Superstore 2000 102,735 202425 Ferrara Dr., Smiths Falls Your Independent Grocer 1995 40,637 2030411 Louth St., St. Catharines Real Canadian Superstore 2004 107,233 2026285 Geneva St., St. Catharines Zehrs Markets 1997 72,735 2030780 Queen St. E, St. Mary’s Your Independent Grocer 2007 38,759 20291063 Talbot St., St. Thomas Real Canadian Superstore 2004 106,911 20241251 Main St., Stittsville Your Independent Grocer 2003 68,924 203121 Upper Centennial Pkwy. S, Stoney Creek Fortinos 2000 88,087 2028865 Ontario St., Stratford Zehrs Markets 2001 82,094 203112035 Hwy. #17 E, Sturgeon Falls No Frills 2004 43,648 20311485 Lasalle Blvd., Sudbury Real Canadian Superstore 1980 116,346 20231836 Regent St., Sudbury Your Independent Grocer 1995 46,080 203182 Lorne St., Sudbury Your Independent Grocer 2001 48,653 203120895 Dalton Rd., Sutton West No Frills 1998 19,296 202770 Hope St. W, Tavistock valu-mart 2006 11,429 2025971 Carrick St., Thunder Bay Real Canadian Superstore 1992 140,181 2031400 Simcoe St., Tillsonburg Zehrs Markets 1996 61,158 2027301 Moore Ave., Toronto Loblaws 1990 31,164 203150 Musgrave St., Toronto Loblaws 2000 80,988 2031650 Dupont St., Toronto Loblaws 1996 52,025 20283501 Yonge St., Toronto Loblaws 1990 33,700 2028372 Pacific Ave., Toronto No Frills 1991 23,289 2031449 Parliament St., Toronto No Frills 1999 14,414 203025 Photography Dr., Toronto No Frills 2005 56,748 20271811 Avenue Rd. / Melrose St., Toronto No Frills 1992 13,299 202810 Lower Jarvis St., Toronto No Frills 1998 78,425 202951 Gerry Fitzgerald Dr., Toronto Real Canadian Superstore 2004 149,542 20231400 Neilson Rd., Toronto Shoppers Drug Mart 2014 17,065 203111 Redway Rd., Toronto Loblaws 1994 60,950 20302549 Weston Rd., Toronto Real Canadian Superstore 2003 149,066 20233940 Hwy. #7, Vaughan Fortinos 1999 84,667 20302 Warwick Dr., Wallaceburg No Frills 1996 24,017 202625-45th St. S, Wasaga Beach Real Canadian Superstore 2005 81,748 2025186 Mission Rd., Wawa valu-mart 1990 15,224 2030821 Niagara St., Welland Zehrs Markets 1998 62,892 2025920 Dundas St. W, Whitby No Frills 2000 30,251 2031200 Taunton Rd. W, Whitby Real Canadian Superstore 2005 149,048 2027

400 Glen Hill Dr., Whitby Real Canadian Wholesale Club 2003 39,109 2026

15900 Bayview Ave, Aurora Real Canadian Wholesale Club 2006 106,665 2026

4371 Walker Rd., Windsor Real Canadian Superstore 2004 123,730 2026

Prince Edward Island

461-465 University Ave., Charlottetown Atlantic Superstore 2000 83,113 2029535 Granville St., Summerside Atlantic Superstore 2002 80,146 2029

26


Property Banner Year Built GLA Year of Expiry of LeaseQuebec845 Ave. du Pont N, Alma Maxi 1992 26,734 2026472-4 ième rue E, Amos Maxi 2003 43,521 202830 rue Racine, Baie-Saint-Paul Maxi 1997 14,033 2023175 boul. Sir-Wilfrid-Laurier, Beloeil Maxi 1997 36,433 20261601 boul. de Pèrigny & 248 & 250 Ostiguy, Chambly Maxi 2001 47,944 2025

1160 boul. Louis-XIV, Charlesbourg Maxi 1990 36,422 2029114 boul. Saint Jean-Baptiste, Chateauguay Maxi 1984 54,218 20277000 Route 125, Chertsey Provigo 2007 24,661 2030885-3E rue, Chibougamau Maxi 2005 36,774 2029235 Route 338, Coteau-du-Lac Provigo 2007 24,316 20241122-1128 rue du Sud, Cowansville Loblaws 2002 51,998 2023224 boul. Saint-Michel, Dolbeau-Mistassini Provigo 2000 27,849 2026482 Route 138, Donnaconna Maxi 2005 37,756 2024325-335 boul. Saint-Joseph, Drummondville Loblaws 2003 67,491 20241 boul. Du Plateau, Gatineau Loblaws 1997 127,582 2030300 boul. Saint-Joseph, Gatineau Maxi 1994 55,770 2026130 Ave. Lépine, Gatineau Maxi & Cie 1997 58,518 203185 rue Adrien-Robert, Gatineau Presto 2000 22,523 202516900 Aut. Trans-Canada, Kirkland Provigo 2000 82,680 20253500 rue Laval, Lac-Mégantic Maxi 2003 43,506 20241950 boul. De La Concorde E, Laval Loblaws 1997 82,223 20238475 rue Chartrand, Laval Maxi 2003 35,339 20272090 boul. Des Laurentides, Laval Maxi & Cie 2000 97,344 20253500 Saint-Martin O, Laval Maxi & Cie 1999 73,740 202453-57 Place Quevillon, Lebel-Sur-Quevillon Provigo 1996 10,879 20291150 rue King-George, Longueuil Loblaws 1998 78,219 20231350 rue Sherbrooke, Magog Loblaws 1996 71,918 2026170 rue Principale S, Maniwaki Maxi 2004 42,979 2028282 Rue Ouellette, Marieville Provigo 1962 20,000 20326767 boul. Newman, Montreal Loblaws 1999 79,880 20253000-3100 rue Wellington, Montreal Maxi 1998 35,279 20261757 boul. Marcel-Laurin, Montreal Maxi & Cie 1998 80,331 2025375 rue Jean-Talon O, Montréal Loblaws 1999 77,583 20236600 rue Saint-Jacques, Montréal Loblaws 2002 81,492 2024800 boul. Henri-Bourassa O, Montréal Loblaws 2002 81,307 20232535 rue Masson, Montréal Maxi 1995 29,638 20287605 Maurice-Duplessis, Montréal Maxi & Cie 2002 75,856 20246825 Chemin de la Côte-des-Neiges, Montréal Maxi & Cie 1998 83,030 2024

50 Ave. du Mont-Royal O, Montréal Provigo 2002 36,234 20308570 boul. Saint-Laurent, Montréal Provigo 1990 17,930 202410455 boul. Saint-Laurent, Montréal Provigo 1986 17,841 20293175-3185 rue Beaubien E, Montréal Provigo 2001 14,939 2023390 Route 117, Mont-Tremblant Maxi 1996 33,822 20241877 rue Bilodeau, Plessisville Maxi 1996 24,995 2025815-819 Ave. Myrand, Quebec Provigo 1986 14,312 20284535-4545 boul. Henri-Bourassa, Quebec Loblaws 2002 104,718 2023491 rue Seigneuriale, Quebec Provigo 2001 21,303 20242225-2235 1ère Ave., Québec Provigo 1990 18,348 20243397-3399 rue Queen, Rawdon Maxi 2006 30,465 2023

150 Ave. Saint-Alphonse, Roberval Maxi 2004 43,378 2025

27


Property Banner Year Built GLA Year of Expiry of Lease180 boul. Barrette, Saguenay Maxi 1995 52,674 20252460 rue Cantin, Saguenay Presto 2000 24,175 20252501 boul. Du Millénaire, Saint-Basile-le-Grand Maxi 2005 34,807 2024

1400 rue Roberval, Saint-Bruno-de-Montarville Loblaws 1986 53,610 2024

2000 boul. Casavant O, Saint-Hyacinthe Loblaws 2001 64,303 20251095 Saint-Isidore, Saint-Lin-Laurentides Provigo 2002 44,085 2024260 Rue Saint Cyrille, Saint-Raymond Provigo 2005 25,000 20322840 boul. Des Promenades, Sainte-Marthe-Sur-Le-Lac Maxi 2000 35,552 2025

150 rue Des Grandes-Fourches S, Sherbrooke Maxi 2001 47,452 2027

55 Jacques-Cartier Sud, Sherbrooke Provigo 2013 43,000 20293025 boul. De Portland, Sherbrooke Maxi & Cie 2000 87,914 2030169 rue Queen & 2 rue Speid, Sherbrooke Provigo 1999 16,383 20301100-13E Ave. N, Sherbrooke Provigo 1987 28,447 202750 rue Victoria, Sorel-Tracy Provigo 1999 15,523 2025480 boul. Sainte-Anne, Ste-Anne-Des-Plain Provigo 1998 27,516 20298200 boul. Lacroix, St-Georges Maxi 2002 52,133 2026301 Chemin Kipawa, Temiscaming Provigo 1996 8,112 20282260 Chemin Gascon, Terrebonne Maxi 1992 24,816 2024390 Montée des Pionniers, Terrebonne Maxi 2004 34,885 20237201 boul. Laurier, Terrebonne Maxi 2002 35,572 20273725 boul. Des Forges, Trois-Rivières Loblaws 2003 66,279 20232332 boul. Barette, Val D'Or Loblaws 2001 51,978 202460 rue Carignan, Victoriaville Loblaws 1986 67,079 2024118-120 boul. Arthabaska O, Victoriaville Maxi 2004 42,910 2027100 rue Des Oblats N, Ville-Marie Provigo 2005 24,483 2031295 rue Saint-Georges, Windsor Provigo 2006 24,146 2026Saskatchewan30 Thatcher Dr. E, Moose Jaw Real Canadian Superstore 1995 127,792 2027

921 Broad St., Regina Real Canadian Wholesale Club 1992 55,792 2027

315 Herold Rd., Saskatoon Your Independent Grocer 1997 42,568 203030 Kenderdine Rd., Saskatoon Your Independent Grocer 1996 38,966 20302815 Wanuskewin Rd., Saskatoon Extra Foods 1997 48,754 2029

1501 North Service Rd. E, Swift Current Real Canadian Wholesale Club 1999 51,241 2027

115 Souris Ave. NW, Weyburn Real Canadian Wholesale Club 1999 51,321 2031

206 Broadway St. E, Yorkton Real Canadian Superstore 1994 101,733 2030Yukon Territories2270 – 2nd Ave., Whitehorse Real Canadian Superstore 2003 90,219 2034

Total 24,600,000

28

Summary Information – Q4 2017Individual Property SummaryMulti-Tenant Properties

Property Banner Third-Party Tenants1 Year Built Loblaw GLA Third-Party GLA% Occupied (incl Loblaw)

Year of Expiry of Loblaw Lease

Alberta

4700 – 130th Ave., SE, Calgary Superstore TD Canada Trust 2002 151,559 20,092 100% 2028

4950-137 Ave., Edmonton Superstore Red Robin, Sleep Country 1993 163,324 12,312 100% 2025

101 St. Albert Rd., St. Albert Superstore TD Canada Trust, The Canadian Brew House 1999 109,122 11,035 100% 2028

5031-44th St., Lloydminster Superstore Sleep Country, Original Joe's, Goodlife Dollar Tree 1991 108,529 53,815 99% 2028

17303 Stony Plain Rd., Edmonton Superstore Alberta Treasury, Red Robin 1986 154,319 17,389 100% 2029

3575-20th Ave. NE, Calgary Superstore Max's Restaurant 1990 161,455 8,199 100% 2023

1050 Yankee Vallery Blvd., Airdrie No Frills Your Dollar Store 2000 34,437 5,493 100% 2029

210 5th Ave SW, Cochrane No Frills GoodLife Fitness 1997 28,665 9,564 100% 2026

4410 – 17th St. NW, Edmonton Superstore Spa Lady, Dollar Tree 2009 131,460 38,790 100% 2023

4211 - 139 Avenue & 13704 - 42 Street, Edmonton

No Loblaw Banner

GoodLife Fitness, Kal Tire, Arista Real Estate Investment Trust

1997 & 2012 - 81,895 100% N/A

5201 30 Ave, Beaumont No Frills 2005 31,186 11,225 100% 2029

731 Alberta St West, Brooks No Frills 2001 25,134 10,501 96% 2021

7020 - 4th Street NW, Calgary Superstore 2006 147,680 2,194 100% 2026

100 Country Village Rd, NE, Calgary Superstore 2004 154,077 11,857 100% 2028

6904 – 99 St. NW, Edmonton RCWC 1994 55,660 56,720 100% 2029

9711-23rd Ave. NW, Edmonton Superstore 2000 147,280 10,805 100% 2026

12350-137 Ave., Edmonton Superstore 1984 158,840 5,984 100% 2023

11443-11625 Kingsway NW, Edmonton Superstore 2011 97,315 16,440 100% 2023

14740-111th Ave., Edmonton RCWC 1994 74,884 15,865 100% 2027

#100, 8802-100th St., Fort Saskatchewan No Frills 2004 39,890 21,089 100% 2026

5080-43rd Ave., Innisfail No Frills 2005 31,334 11,063 74% 2028

5700 Hwy. 2A, Lacombe No Frills 2002 27,968 12,022 100% 2031

8901-100th St., Morinville No Frills 2004 29,711 11,063 100% 2030

101-900 Pine Rd., Strathmore No Frills 2003 44,281 20,094 85% 2029

4420-52nd Ave., Whitecourt No Frills 1998 28,392 9,447 100% 2031

291 Tenants that exceed the threshold for minimum base rent and square footage


Property Banner Third-Party Tenants1Year Built Loblaw GLA Third-Party GLA

% Occupied (incl Loblaw)


British Columbia

1301 Lougheed Highway, Coquitlam Superstore Staples, Dollarama 1989 134,258 46,386 100% 2027

3000 Lougheed Highway, Coquitlam Superstore

Fitness World, UFC Gym, Brick, Red Robin, Mastermind Toys 2001 140,725 138,909 99% 2027

8195-120th St., Delta Superstore Dollarama 2003 145,369 8,255 100% 2025

4651 No.3 Rd., Richmond Superstore Providence Health Care Society 2000 137,492 26,019 99% 2024

435 - 455 North Rd., Coquitlam YIG N. Rd. Medical Clinic, RBC 2002 35,633 50,446 86% 2025

2332-160th St., Surrey RCSS

Westminster Savings, B.C.A.A., Dollarama, Party City, Club 16 Trevor Linden Fitness 2016 133,800 106,573 97% 2034

1502 Columbia Ave., Castlegar No Frills 1997 26,187 30,849 79% 2029

1401 Alaska Ave., Dawson Creek No Frills 2002 29,709 10,584 100% 2029

910 Columbia St. W, Kamloops Superstore 2000 117,268 11,177 100% 2029

9970 Main St., Lake CountryShoppers Drug Mart 2015 10,192 3,432 75% 2031

3455 Johnston Rd., Port Alberni No Frills 2004 34,048 24,263 58% 2024

757, 789-795 Ryan Rd, Courtenay Superstore TD Canada Trust 1993 102,025 32,835 100% 2027Manitoba

366 Main St., Selkirk Extra FoodsPharma Plus 1976 25,545 54,866 72% 2020

130 Pth Hwy. 12 N, Steinbach Superstore 2003 97,421 8,620 100% 2027

1725 Ellice Ave., Winnipeg RCWC 1995 58,600 14,000 100% 2029

3193 Portage Ave., Winnipeg Superstore 1996 124,839 20,331 100% 2029

2132 & 2136 McPhillips St., Winnipeg Superstore 1986 141,765 27,487 100% 2025

175 Cargill Rd., Winkler Superstore MLCC 2002 110,253 11,647 97% 2030New Brunswick

650 Somerset St., Saint John Superstore ANBL 1998 51,076 11,397 100% 2024

115 Campbell Rd. & 77 & 81 Marr Rd, Rothesay Superstore ANBL 2003 106,656 48,856 91% 2029

620, 640 & 700 St. Peter Ave., Bathurst Superstore 1995 72,283 83,474 69% 2029

2 Johnson St., Chatham Supervalu 1998 31,500 32,414 92% 2030

577 Victoria St., Edmundston Superstore 2001 80,357 12,069 100% 2029






471 Smythe St., Fredericton Superstore 1996 89,640 4,434 100% 2031

240 Madawaska Road, Grand Falls Superstore 2007 83,859 8,940 100% 2025

105, 165 & 175 Main St., Moncton Superstore 1993 95,731 80,832 95% 2027

3070 Main St., Salisbury Save Easy 1993 8,578 8,713 80% 2028

195 & 203 King St., St. Stephen Superstore 1999 48,108 6,018 89% 2024

1150 Onondaga Street, Oromocto Superstore 1994 47,085 6,491 100% 2020

Newfoundland132 Bennett Dr & 100 Laurell Rd., Gander Dominion 2002 44,653 10,140 100% 2026

150 Old Placentia Rd., Mount Pearl Dominion 1993 82,986 7,828 100% 2027

62 Price Rupert St., Stephenville Dominion 2000 39,310 6,363 100% 2029

260 Blackmarsh Rd., St. John's Dominion 2005 106,656 9,000 100% 2027

55 Stavanger Dr., St. John's Dominion 1998 92,818 10,000 100% 2027Nova Scotia

650 Portland St., Dartmouth Superstore Halifax Public Libraries 1993 135,723 126,410 100% 2027

5528 Hwy. #7, Porters Lake Superstore Lawton's Drugs 1999 47,067 56,784 98%

126 Albion St. S, Amherst Superstore 1997 68,658 12,374 100% 2027

21 St. Anthony St., Annapolis Royal Save Easy 2000 14,356 9,519 83% 2028

26 Market St., Antigonish Superstore 2004 78,665 17,005 100% 2027

3687 & 3695 Hwy. #3, Barrington Passage No Frills 2012 28,583 12,158 100% 2023

490 Hwy. #303, Digby Superstore 1999 48,060 1,400 100% 2023

291-297 Hwy. #214, Elmsdale Superstore 1999 47,295 11,354 100% 2024

155 Reserve St., Glace Bay Superstore 2000 47,500 19,187 98% 2023

6141 Young St., Halifax Superstore 1993 44,686 6,873 100% 2028

1075 & 1145 Barrington St., Halifax Superstore 1997 50,311 7,449 100% 2031

3601, 3609, 3627 & 3711 Joseph Howe Dr., Halifax Superstore 2000 156,233 26,503 100% 2028

470 Main St., Kingston Superstore 2002 64,228 7,776 100% 2028

50 Milton Rd., Liverpool Superstore 2001 47,300 7,600 100% 2026






745 Sackville Dr., Lower Sackville Superstore 1993 100,303 16,478 100% 2027

143 Victoria Rd., Lunenburg Save Easy 1997 19,125 7,757 100% 2031

306-316 Main St., Middleton Save Easy 1997 10,270 3,991 100% 2028

155 King St. Hwy., North Sydney Superstore 2006 36,975 7,324 100% 2024

330-390 Welton St., Sydney Cash & Carry 1995 57,783 131,455 75% 2024

46 Elm St., Truro Superstore 1997 69,501 12,957 100% 2027

11 Cole Dr., Windsor Superstore 2000 47,750 7,548 100% 2028

104-110 Starrs Rd., Yarmouth Superstore 2005 81,639 33,123 95% 2026

205 - 211 Duke St, Chester Save Easy 1999 13,874 6,004 100% 2030

Ontario

22 & 64 Isabella St., Ottawa Loblaws LCBO 1990 19,461 7,867 100% 2031

1569-1591 Wilson Ave., Toronto No Frills Dollarama 1999 38,280 9,064 100% 2028

1220-1226 Place D'Orleans Dr., Orleans No Frills Goodlife 1993 36,314 45,055 95% 2023

2280-2290 Dundas St. W, TorontoLoblaw Warehouse LCBO, Kal Tire 1990 118,805 16,099 100% 2026

5890 Malden Rd., Windsor Zehrmart CIBC, Windsor Family Credit Union 1994 86,401 36,090 99% 2031

289-293 Coldwater Rd. W, Orillia Zehrmart LCBO 1999 74,558 23,473 97% 2030

2025 Guelph Line, Burlington Fortinos

CIBC, Dollarama, Anytime Fitness, Brewers Retail, LCBO, The Dental Health Group 1999 94,851 83,873 100% 2030

875 Highland Rd. W, Kitchener SuperstoreTD Canada Trust, Dollarama, The Beer Store 1990 153,618 80,135 97% 2023

7201 Tecumseh Rd. E, Windsor Zehrmart Bulk Barn, Dollar Tree Stores Canada Inc 1990 105,617 60,559 96% 2025

1806-1880 Eglinton Ave. E, Scarborough No Frills Bulk Barn 1998 65,511 110,077 100% 2028

1375 Weber St. E, Kitchener Zehrmart Dollarama 1990 60,058 30,688 100% 2023

481 Gibb St., Oshawa Superstore East Side Mario's 1999 80,783 10,895 99% 2026

380 The East Mall, Etobicoke LoblawsTD Canada Trust, State & Main Kitchen & Bar 1999 81,914 11,965 100% 2030






400 Kent St. W, Lindsay Loblaws Swiss Plus 2002 60,024 5,236 100% 2031

91 King William St., HuntsvilleNo Loblaw Banner LCBO 1996 - 33,470 100% N/A

400 Dundas, Belleville

Your Independent Grocer LCBO 1993 50,430 6,133 100% 2030

8345-8555 & 8585 Hwy. #27, Woodbridge Fortinos CIBC 2000 76,665 29,464 88% 2028

1040-1100 Princess St., Kingston Loblaws Pharma Plus, CIBC, TD Canada Trust 2000 81,332 81,698 93% 2031

102 Highway 8, Stoney Creek FortinosStoney Creek Dental Group, Rexall 1999 70,124 56,301 100% 2028

400 Manning Rd. & 13412-13598 Techumesh Rd. E, Windsor Zehrmart BMO 1996 70,308 76,117 90% 2029

3045 Mavis Rd. and 3020 Elmcreek Rd., Mississauga Superstore LCBO 2000 80,869 12,023 100% 2027

190 Richmond Rd., Ottawa Superstore LCBO 2003 84,880 10,183 100% 2029

192 & 200 Bullock Dr., Markham Loblaws LCBO 2001 116,462 12,102 100% 2025

24 Forwell Creek, Waterloo Cash & Carry National Sports 1998 50,241 32,854 100% 2027

3730 Lakeshore Blvd., Etobicoke No Frills LCBO, Dollarama 2000 32,011 17,978 100% 2028

3201 Greenbank Rd., Ottawa Loblaws HomeSense 2002 92,479 22,714 100% 2030

449 Carlaw Ave., Toronto No Frills Carlaw Tire & Auto Service 1954 39,881 31,630 89% 2029

330 Queen's Plate Dr, Etobicoke Fortinos CIBC 2003 91,821 5,932 100% 2031

124 Clair Rd. East, Guelph Zehrs Crabby Joe's Tap & Grill 2014 39,956 32,149 100% 2029

1527-1543 Victoria Park Ave., Toronto

No Loblaw Banner Woodgreen Community Service 1959 - 23,116 100% N/A

1025 & 1059 Plains Rd. E, Burlington Fortinos Sleep Country Canada 1999 83,029 70,521 95% 2030

1199 & 1205 Oxford St., London Superstore The Beer Store 1999 102,983 5,533 100% 2027

2515 Appleby Line, Burlington Fortinos Goodlife Fitness 2011 79,710 35,144 100% 2023

1972 Parkdale Ave., Brockville Superstore TD Canada Trust, Dollarama N/A 91,721 15,044 100% 2023

50 Dundurn St., Hamilton FortinosEasyhome, CAA Services(South Central Ontario) 1999 71,202 54,171 98% 2031

420-470 Main St. S, Alexandria

Your Independent Grocer Royal Bank 1999 37,000 20,586 100% 2028






201-211 Cundles Rd. E, Barrie No Loblaw Banner Goodlife 1991 - 65,756 82% N/A

Duckworth St., Barrie Zehrs LCBO 2016 83,554 18,257 100% 2031

15820-15830 Bayview Ave., Aurora No Loblaw Banner The Beer Store, LCBO 2006 - 18,825 100% N/A

401 Ottawa St., AlmonteYour Independent Grocer 2001 37,746 22,801 92% 2029

54 Wilson St. W, Ancaster Fortinos 1999 65,541 10,998 97% 2029

285 Mill Street RR #1, Angus No Frills 2006 27,025 2,884 100% 2025

39 Winners Circle Dr., Arnprior No Frills 1999 22,950 26,859 84% 2025

657 John St. N, Aylmer No Frills 2000 43,651 1,930 100% 2031

75-85 – 105 Causley St., Blind River valu-mart 1999 14,932 15,211 100% 2030

155 Elizabeth St., RR#3, Brighton No Frills 2005 43,787 2,643 100% 2023

180 Holiday Inn Dr., Cambridge Zehrmart 1990 59,250 23,223 98% 2028

31-9th St. E, CornwallYour Independent Grocer 1992 54,167 57,207 99% 2030

98 Ontario St. S, Grand Bend No Frills 2004 16,390 4,640 86% 2025

100 Rorke Ave., Haileybury valu-mart 2008 18,358 12,242 85% 2024

65 Mall Rd., Hamilton Fortinos 1999 91,084 11,909 100% 2028

435-447 Main St. E, Hamilton No Frills 1990 20,283 37,385 72% 2030

800-880-10th St., HanoverYour Independent Grocer 1995 39,473 48,636 91% 2031

2211-20th Sideroad Rd., Innisfil No Frills 2009 33,705 13,323 98% 2023

123 Pioneer Park, Kitchener Zehrmart 1990 29,471 33,661 89% 2030

201-215 Talbot St. E, Leamington Superstore 2003 84,017 53,346 100% 2025

1740 Richmond St. N, London Loblaws 1998 80,838 7,579 100% 2031

635 Southdale Rd. E, London No Frills 1996 38,942 20,093 100% 2028

3-12 Huron Walk, Manitouwadge valu-mart 1986 8,000 13,598 90% 2031

1250 South Service Rd, Mississauga No Frills 1962 55,088 74,293 100% 2031

59 Robertson Rd., Nepean Loblaws 1990 47,615 92,068 100% 2024

55 Scott St., New LiskeardYour Independent Grocer 1993 49,642 7,000 100% 2029

1641 & 1675 Jane St., North York No Frills 1999 29,222 14,830 100% 2028






173-183 Lakeshore Rd. W, Oakville Fortinos 1996 52,508 32,759 85% 2023

50-4th Ave., Orangeville Zehrmart 1990 68,021 38,339 100% 2030

60 Joseph St., Parry Sound No Frills 2002 21,954 12,284 100% 2030

1792 Liverpool Rd., Pickering Loblaws 1990 115,529 37,456 99% 2027

1893 Scugog St., Port PerryYour Independent Grocer 1980 50,725 5,390 100% 2028

245 Dixon Rd., Rexdale No Frills 2012 47,042 22,215 100% 2023

2737 Laurier St., RocklandYour Independent Grocer 1999 48,341 4,542 100% 2029

600 Murphy Rd., Sarnia Superstore 1991 113,818 34,600 99% 2026

1300 Main St., Stittsville Shoppers Drug Mart 1989 18,536 41,494 95% 2019

626 Victoria St., Strathroy Superstore 1996 98,788 7,250 100% 2025

59 Mill St., Tilbury No Frills 1990 29,424 9,278 88% 2026

654 Algonquin Blvd. E, TimminsYour Independent Grocer 1992 50,020 3,428 100% 2030

2187 Bloor St. W, Toronto No Frills 1990 13,972 1,806 100% 2029

720 Broadview Ave., Toronto Loblaws 1970 20,192 12,971 92% 2029

17 Leslie St., Toronto Loblaws 1990 77,355 6,540 96% 2031

1951 Eglinton Ave. W, Toronto No Frills 1990 14,347 1,280 100% 2030

222 Lansdowne Ave., Toronto No Frills 2003 57,059 4,605 97% 2030

985 Woodbine Ave., Toronto valu-mart 1968 16,450 12,763 88% 2030

293 Dundas St. E, TrentonYour Independent Grocer 2000 48,296 2,000 100% 2023

4 Banff Rd., Uxbridge No Loblaw Banner 1981 24,292 15,805 93% 2032

2911 Major MacKenzie Dr., Vaughan Fortinos 2001 89,666 11,922 100% 2031

1547-1551 Hwy. #55, Virgil valu-mart 2004 21,204 3,149 100% 2031

450 Erb St. W, Waterloo Zehrmart 1990 70,682 35,123 100% 2030

3555 Thickson Rd. N, Whitby No Frills 1993 17,386 15,964 100% 2025

2430 Dougal Ave., Windsor Superstore 1990 91,046 61,664 92% 2024

969 Dundas St., Woodstock Zehrmart 1998 71,574 6,773 100% 2024






30 Beaver Ave., Beaverton

Your Independent Grocer 1999 50,516 4,410 100% 2029

671 River Road, Ottawa YIG 2005 & 2016 85,289 - 100% 2030 / 2031

Prince Edward Island

509 Main St., Montague Superstore Dollarama 2000 39,310 19,689 95% 2029

31-35 Broadway St., Kensington Save Easy 1997 12,998 4,439 92% 2030Quebec

7600 rue Sherbrooke E, Montréal Loblaws SAQ 1998 81,020 9,762 100% 2023

4777 & 4849 boul. Saint-Jean, Montréal Provigo SAQ 1998 71,080 7,633 100% 2023

86 boul. Brien, Repentigny Maxi & CieSAQ, Sleep Country, Corbeil Electroménagers 2001 75,422 25,950 100% 2023

2925 & 3165 rue Rachel E, Montréal Provigo SAQ 2000 85,023 13,383 100% 2027

1075 & 1101-1155 boul. Talbot, Saguenay Provigo SAQ 2003 65,881 8,557 100% 2023

8305 & 8405 Ave. Papineau, Montréal Maxi & Cie SAQ 1997 87,812 7,653 100% 2026

200 Boul. Omer-Marcil, Saint-Jean-Richelieu Maxi & Cie Barbie's Resto Bar Grill 1998 79,806 9,680 100% 2027

420 & 434-460 boul. Curé-Labelle, Laval Maxi Scotia Bank, SAQ 1995 44,663 31,865 100% 2031

501 & 555 Ave. Saint-Charles, Vaudreuil-Dorion Provigo Action Sport Physio 2001 63,004 6,908 100% 2024

74 & 80 rue Saint-Judes N, Granby Provigo SAQ 2002 62,042 10,035 100% 2024

701 & 801 rue Principale, Saint-Agathe-des-Monts Maxi SAQ 2002 31,256 17,845 100% 2023

1041, 1065 & 1067 boul. Pie XI N, Quebec Maxi SAQ 1995 38,432 22,055 96% 2027

350, Rue Bouvier, Québec Maxi Dollarama, Barbies Resto Bar Grill 2001 46,718 16,148 100% 2026

1201 & 1211 Aut. Duplessis, L'Ancienne-Lorette Maxi & Cie Mike's Steakhouse 2004 71,918 8,111 100% 2023






7701-7749 boul. Maurice-Duplessis, Montréal

No Loblaw Banner Uniprix Inc. 2004 - 43,136 100% N/A

2665 Chemin de Chambly, Longueuil Maxi & Cie Jean Coutu 1984 97,649 38,119 100% 2025

125 rue de la Fayette, RepentignyNo Loblaw Banner Cage Aux Sports, Repentigny 2003 - 28,197 78% N/A

257-345 Sir Wilfrid-Laurier Blvd., Mont-Saint Hilaire

No Loblaw Banner Jean Coutu 1973 - 57,482 100% N/A

1850-1870 boul. Saint-Joseph, Drummondville Maxi & Cie 1992 63,380 32,547 100% 2027

375 Chemin Aylmer, Gatineau Provigo 1991 63,314 18,686 94% 2027

355 & 367 rue Principale, Lachute Maxi 2003 45,668 20,742 100% 2027

940 Chemin du Sault, St Romuald Maxi & Cie 1989 62,931 59,252 99% 2027

6750-6800 rue Jean-Talon E, Montréal Maxi 2002 46,369 24,987 100% 2023

5585 & 5595 Monkland Ave., Montréal

Provigo Franch 1990 9,728 8,558 81% 2031

10200 boul. Pie IX, Montréal Nord Maxi & Cie 2001 80,917 2,454 100% 2024

90-92 Boul Cardinal-Léger, Pincourt Maxi & Cie 2000 97,502 4,106 100% 2028

44 rue Craig & 35 rue du Collège S, Richmond Maxi 2004 41,136 1,471 100% 2027

1643 & 1753 boul. D'Youville, Shawinigan Maxi 1986 45,552 3,095 100% 2025

470 rue Wellington S, Sherbrooke Presto 1982 23,812 11,120 100% 2027

1024-1030 boul. Vachon N, Ste-Marie Maxi 1993 35,536 4,378 100% 2023

2600 - 2650-6E Avenue, Grand-Mere Maxi 1970 44,015 7,923 100% 2025Saskatchewan

2055 Prince of Wales Dr., Regina Superstore

The Canadian Brew House, Scotia Bank, TD Canada Trust, Mr. Mike's Steakhouse 2000 142,021 52,976 100% 2029

4450 Rochdale Blvd., Regina Superstore Swiss Chalet, Montana's 2000 159,449 31,864 100% 2028

137 King St., Estevan No Frills 2010 36,134 15,747 100% 2031

620 Saskatchewan Ave., Melfort YIG 1985 40,678 18,328 92% 2029

591-15th St. E, Prince Albert Superstore 1992 100,954 3,000 100% 2029

2901 & 2921-8th St. E, Saskatoon Superstore 1991 141,752 8,173 100% 2030

411 Confederation Dr., Saskatoon Superstore 1979 144,664 9,468 100% 2027

Total 7,400,000 5,000,000


Summary Information – Q4 2017Individual Property SummaryNon-Retail Properties

Property Property Class BannerThird-Party Tenants1

Year Built

Loblaw GLA Third-Party GLA

% Occupied (incl

Loblaw)

Year of Expiry of Loblaw

Lease

55 Freeport Blvd NE, Calgary Industrial West Warehouse N/A 2003 499,837 - 2029

18800 Lougheed Hwy., Pitt Meadows Industrial West Warehouse N/A 2003 355,316 - 2031

2755-190th St., 2456-188 St. & 18917-24th Ave., Surrey Industrial West Warehouse N/A 2009 407,000 - 2030

775 Frenette Ave., Moncton Industrial AWL Distribution N/A 2010 124,655 - 2031

85 Commerce St., RR # 4, Moncton Industrial AWL Distribution N/A 1995 189,385 - 2025

100, 120 & 140 Baig Blvd., Moncton Industrial AWL Distribution N/A 1960 163,385 7,000 100% 2024

10 DeWare Dr., Moncton IndustrialShoppers Drug Mart Distribution Centre N/A 1995 226,135 - 2031

35 Clyde Ave., Mount Pearl Industrial AWL Distribution N/A 1960 151,221 - 2023

1105 Fountain St., Cambridge Industrial ONT Distribution N/A 2001 911,670 - 2031

1400 Church St., Pickering Industrial ONT Distribution N/A 2005 921,256 - 2045

580 Secretariat Ct., Mississauga Industrial

ACE Bakery Limited2 2006 - 198,286 100% N/A

2300 & 2600 Francis-Hughes, Laval Industrial

Provigo Distribution Centre

Transcontinental Media G P 1973 558,118 152,345 100% 2023

180 Chemin du Tremblay, Boucherville Industrial

Provigo Distribution Centre N/A 2000 517,350 - 2029

2101 Fleming Rd., Regina Industrial West Warehouse N/A 2011 1,029,675 - 2028

1 President's Choice Circle & 55 Hereford, Brampton Office N/A N/A 2005 609,000 N/A N/A 2031

Spruce Grove PUD N/A N/A N/A N/A N/A N/A N/A

Mayfield/Chinguacousy, Brampton PUD N/A N/A N/A N/A N/A N/A N/A

Abbott/Arterial, Kanata PUD N/A N/A N/A N/A N/A N/A N/A

500 Lake Shore Blvd West, Toronto PUD N/A N/A N/A N/A N/A N/A N/A

Toronto PUD N/A N/A N/A N/A N/A N/A N/A

Hamilton PUD N/A N/A N/A N/A N/A N/A N/A

381 Tenants that exceed the threshold for minimum base rent and square footage2 Related party tenant

Total Portfolio 44,100,000Total 6,700,000 400,000

Slide Number 1Table of ContentsForward-Looking StatementsQ4 2017 HighlightsDevelopment Activity�GLA Constructed in Q4 2017Development Activity�SummaryAcquisition Activity �SummaryLeasing ActivityFinancial Results�SummaryFinancial Results�Same Property NOICapital StructureSummary Information – Q4 2017�Portfolio HighlightsSummary Information – Q4 2017�Base Rent by Province�Top 10 Non-Loblaw TenantsSummary Information – Q4 2017�Lease Expiration ScheduleSummary Information – Q4 2017�Liquidity and Debt Maturity ProfileSummary Information – Q4 2017�Liquidity and Debt Maturity ProfileSummary Information – Q4 2017�Liquidity and Debt Maturity ProfileSummary Information – Q4 2017�Financial StatementsSummary Information – Q4 2017�Financial StatementsSummary Information – Q4 2017�Financial StatementsSummary Information – Q4 2017�Individual Property SummarySummary Information – Q4 2017�Individual Property Summary�Stand-Alone PropertiesSummary Information – Q4 2017�Individual Property Summary�Stand-Alone PropertiesSummary Information – Q4 2017�Individual Property Summary�Stand-Alone PropertiesSummary Information – Q4 2017�Individual Property Summary�Stand-Alone PropertiesSummary Information – Q4 2017�Individual Property Summary�Stand-Alone PropertiesSummary Information – Q4 2017�Individual Property Summary�Stand-Alone PropertiesSummary Information – Q4 2017�Individual Property Summary�Stand-Alone PropertiesSummary Information – Q4 2017�Individual Property Summary�Multi-Tenant PropertiesSummary Information – Q4 2017�Individual Property Summary�Multi-Tenant PropertiesSummary Information – Q4 2017�Individual Property Summary�Multi-Tenant PropertiesSummary Information – Q4 2017�Individual Property Summary�Multi-Tenant PropertiesSummary Information – Q4 2017�Individual Property Summary�Multi-Tenant PropertiesSummary Information – Q4 2017�Individual Property Summary�Multi-Tenant PropertiesSummary Information – Q4 2017�Individual Property Summary�Multi-Tenant PropertiesSummary Information – Q4 2017�Individual Property Summary�Multi-Tenant PropertiesSummary Information – Q4 2017�Individual Property Summary�Multi-Tenant PropertiesSummary Information – Q4 2017�Individual Property Summary�Non-Retail Properties

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