Index

Notice to Reader ………………..………………………………………………………………...………………..……. 2 Conference Call Highlights ……. ………………………………………………………………………..……………... 3 Portfolio Highlights …..….…………………………………………………………………………………..…………... 7 Distribution Reinvestment Plan ..……………………………………………………………………………………... 8 Distribution History …………………………………………………………………………………………...…….. 8 Performance of Calloway Units …………………………………………………………………………………….… 9 Average Unit Trading Price …………………………...…………………………………………………………… 9 Average Daily Volume of Units Traded ……………...…………………………………………………………… 9 Market Capitalization Summary ………………………..………………………………………………………… 9 Gross Revenue and Area by Province ……...…………………….……………………………………………....… 10 Top 25 Tenants ……………………….………………………………..…………………………………………….… 11 Lease Expiration Schedule ………………………………….…………………………………………………..….. 12 Area by Age ……………………………………..……………………………...…………………………………….… 13 Future Earnouts and Developments ……………………………………………………………………………….. 14 Committed Earnouts and Developments ………...…………………………………………………………… 14 Recourse Loans to Developers ……………….…………………………………..………………………………….. 15 Individual Property Summary ………………………………………………………..……………………………….. 16 General Information ……………. ……………………………………………………...... …………………………. 25 c

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 1 Notice to Reader

Readers are cautioned that certain terms used in this Supplemental Information Package (“Supplement”) such as Funds from Operations ("FFO"), Adjusted Funds from Operations ("AFFO"), "Gross Book Value", "Payout Ratio", "Interest Coverage", "Total Debt to Adjusted EBITDA" and any related per Unit amounts used by management to measure, compare and explain the operating results and financial performance of the Trust do not have any standardized meaning prescribed under IFRS and, therefore, should not be construed as alternatives to net income or cash flow from operating activities calculated in accordance with IFRS. These terms are defined in this Supplement and reconciled to the consolidated financial statements of the Trust in the Management’s Discussion and Analysis (“MD&A”) for the three and nine months ended September 30, 2013. Such terms do not have a standardized meaning prescribed by IFRS and may not be comparable to similarly titled measures presented by other publicly traded entities.

Certain statements in this Supplement 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 contained in this Supplement, including statements related to the Trust's maintenance of productive capacity, estimated future development plans and costs, view of term mortgage renewals including rates and upfinancing amounts, timing of future payments of obligations, intentions to secure additional financing and potential financing sources, and vacancy and leasing assumptions, 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. Although the forward-looking statements contained in this Supplement are based on what management believes to be reasonable assumptions, the Trust 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 Supplement and the Trust assumes no obligation to update or revise them to reflect new events or circumstances unless otherwise required by applicable securities legislation.

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 2 Conference Call Highlights

Operations – for the quarter . FFO/unit increased 5.2% for the quarter compared to the same period in 2012 . Average cap rate of investment properties improved to 5.99% over Q3 2012 . Same property growth increased 1.1% . Occupancy level maintained at 99% for the 15th consecutive quarter . Already renewed or in final stages of renewal on 86% of all lease maturities for 2013 with average face rents increase of 7.5%, which should remain relatively unchanged for year-end . Payout ratio now at 86.4%, providing potential for future distribution increase

Tenant Activity . Leasing interest and tenant activity remain healthy in Calloway’s portfolio . Approximately 98,400 square feet of tenancies came on-stream collectively this quarter, providing an unleveraged yield of 7.4% . Strong leasing interest in the Premium Outlets® has resulted in long term deals of almost 90% to date, with some shorter term in place to almost fully occupy the site . Target: two stores opened in July 2013 (Oakville and Kitchener) . We are continuing to manage the four locations closed by / Future Shop where they are obligated to continue paying rent. Two of these locations have been or are very near being released at higher net rents and discussions are underway for the last two locations . Dollar store growth through and Dollar Tree continues to absorb surplus space . Overall, Calloway is pleased with tenant demand, but continues to monitor those tenants of markets where some rationalizing is taking place

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 3 Conference Call Highlights

Growth . Same property growth increased 1.1% in the quarter . Earnouts and development of 98,400 square feet at a 7.4% yield for the quarter . Premium Outlets  Toronto - construction of 400,000 square feet completed - Grand Opening launched on August 1, 2013 to great consumer support - initial yield in excess of 8%, with stabilized yield expected close to 9%  - land purchased in December 2012 - construction commenced October 2013 - witnessing good leasing interest - scheduled to open Fall 2014 . Vaughan Metropolitan Centre - KPMG rezoning and site plan submitted - contracts signed with construction manager and architects - agreements signed with TTC subway/bus terminal and cost allocation for pedestrian tunnel - construction to commence January 2014 . Future Opportunities - earnouts and developments – committed pipeline of 336,000 square feet in place at a yield of 8.9% - Westside Mall – mixed use rezoning potential resulting from Eglinton LRT/subway line in front of the centre on Calloway land - Hopedale Mall (rebranded as South Oakville Centre) renovated to coincide with Target opening - continuing to source other intensification opportunities across the Calloway portfolio . Acquisitions - acquired a 200,000 square foot retail centre in June 2013 in Regina, immediately adjacent to our existing Calloway property for $45.7 million - acquired four Walmart-anchored centres totalling 697,000 square feet (Calloway’s owned interest), all located in the province of . One of the centres is a mixed use, retail/office complex located in that Calloway manages and co-owns with a 50:50 third party joint venture partner. The other three are retail centres acquired fully by Calloway. Purchase price for the four properties totalled $184.0 million, net of partner involvement.

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 4 Conference Call Highlights

Capital Activities . Issued $150 million of unsecured debentures at 3.385% for four years and four months to fund acquisitions . Leverage at 43.2% of FMV . Interest coverage increased to 2.5X, net interest coverage (excluding capitalized interest) increased to 2.8X . Unencumbered asset pool increased to approximately $1.4 billion, providing future flexibility . Continuing to refinance mortgages as they mature at lower than outgoing rates; 2013 now fully committed and commitments already received for $32.4 million of 2014 maturities . Subsequent to quarter end, issued $100 million in unsecured debentures bearing interest at a variable rate based on the three-month Canadian dealer offered rate plus 1.38% to repay operating lines and provide future flexibility

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 5 Looking Beyond

Vaughan Metropolitan Centre

Vaughan Metropolitan Centre

Westside Mall – Caledonia Station

Toronto Premium Outlets (Grand Opening launched on August 1, 2013)

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 6 Portfolio Highlights

September 30, 2013 Number of properties 133 Number of Walmarts / Supercentres 81 / 64 Number of Walmarts / Supercentres (including shadows) 95 / 71 Gross leasable area (sq. ft.) 27,386,728 Total GLA in Walmart anchored centres (sq. ft.) 22,970,776 Future developable area (sq. ft.) 3,284,720 Occupancy 99.0% Average lease term to maturity 7.6 years Net rental rate (per occupied sq. ft.) $14.66 Net rental rate excluding anchors (per occupied sq. ft.) (1) $20.77 Total debt – Weighted average interest rate (2) 4.96% Term mortgages – Weighted average contractual interest rate (3) 5.39% Term mortgages – Weighted average maturity 5.6 years

(in $000s, except for Units and per Unit amounts) Investment properties 6,691,743 Total assets 7,029,941 Debt 3,009,113 Debt to gross book value (4) 51.2% Interest coverage (5) 2.5X Equity (book value) 3,810,102 Units outstanding (6) 133,776,172 FFO (diluted) (7) $0.467 AFFO (diluted) (7) $0.448 Payout ratio (8) 86.4%

(1) Anchors are defined as tenants within a property with leaseable area greater than 30,000 square feet. (2) Includes convertible debentures and acquisition date fair value adjustments. (3) Excludes acquisition date fair value adjustments. (4) Defined as debt (excluding convertible debentures) divided by total assets plus accumulated amortization and cumulative unrealized fair value gain or loss in respect of investment property and financial instruments. Refer to “Financial Covenants” in the MD&A for the three and nine months ended September 30, 2013 for a reconciliation of this ratio. (5) Defined as earnings before interest, income taxes, amortization and fair value gain or loss with respect to investment property and financial instruments over interest expense, where interest expense excludes the distributions on deferred units and LP Units classified as liabilities. Refer to “Financial Covenants” in the MD&A for the three and nine months ended September 30, 2013 for a reconciliation of this ratio. (6) Total Units outstanding includes Trust Units and LP Units including LP Units classified as liabilities. LP Units classified as equity in the consolidated financial statements are presented as non-controlling interests. (7) See “Other Measures of Performance” in the MD&A for the three and nine months ended September 30, 2013 for a reconciliation of these measures to the nearest consolidated financial statements measure. (8) Payout ratio is calculated as distributions per Unit divided by Adjusted Funds From Operations per Unit.

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 7 Distribution Reinvestment Plan

Unitholders who elect to participate will have their monthly cash distributions automatically reinvested in units of Calloway at a price equal to 97% of the average TSX market price over the 10 business days preceding the monthly distribution date.

Calloway’s DRIP will be administered by Computershare Trust Company of . Interested unitholders can also obtain an information package and the necessary registration forms from, or direct any inquiries/concerns regarding the DRIP to, Computershare Trust Company of Canada via telephone at 1-800-564-6253 or via mail at:

Calloway Real Estate Investment Trust c/o Computershare Trust Company of Canada 100 University Avenue, 9th Floor Toronto, ON, M5J 2Y1 Canada Attention: Dividend Reinvestment Department

Distribution History

Per unit, paid monthly 2013 2012 2011 2010 2009 ($) ($) ($) ($) ($) January 0.12900 0.12900 0.12900 0.12900 0.12900 February 0.12900 0.12900 0.12900 0.12900 0.12900 March 0.12900 0.12900 0.12900 0.12900 0.12900 April 0.12900 0.12900 0.12900 0.12900 0.12900 May 0.12900 0.12900 0.12900 0.12900 0.12900 June 0.12900 0.12900 0.12900 0.12900 0.12900 July 0.12900 0.12900 0.12900 0.12900 0.12900 August 0.12900 0.12900 0.12900 0.12900 0.12900 September 0.12900 0.12900 0.12900 0.12900 0.12900 October 0.12900 0.12900 0.12900 0.12900 November 0.12900 0.12900 0.12900 0.12900 December 0.12900 0.12900 0.12900 0.12900 Total 1.16100 1.54800 1.54800 1.54800 1.54800

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 8 Performance of Calloway Units

Average Unit Trading Price

Per unit 2013 2012 2011 2010 2009 ($) ($) ($) ($) ($) 1st Quarter 29.35 27.09 24.17 20.20 10.98 2nd Quarter 27.71 27.84 25.31 20.74 12.33 3rd Quarter 24.99 29.64 25.03 22.78 15.82 4th Quarter 28.66 26.25 23.84 18.38 YTD / Annual 27.25 28.27 25.15 22.05 14.40 Closing trading price at end of 24.35 28.95 26.77 23.37 19.51 period

Average Daily Volume of Units Traded

2013 2012 2011 2010 2009 ($) ($) ($) ($) ($) 1st Quarter 201,657 184,079 166,361 147,798 153,794 2nd Quarter 205,188 162,337 129,997 164,883 257,881 3rd Quarter 224,222 166,512 147,638 187,767 277,493 4th Quarter 173,510 144,570 192,377 164,661 Annual 210,421 171,593 147,075 173,308 213,695

Market Capitalization Summary

Date Total Units Outstanding (1) Share price per Unit Market Capitalization ($) ($) September 30, 2013 133,776,172 24.35 3,257,449,788 December 31, 2012 132,279,778 28.95 3,829,499,573 December 31, 2011 124,738,959 26.77 3,339,261,932 December 31, 2010 114,939,541 23.37 2,686,137,073 December 31, 2009 99,365,444 19.51 1,938,619,812

(1) Includes Calloway Limited Partnership Class D units.

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 9 Gross Revenue and Area by Province

Gross Revenue by Province

1 – Ontario – 59.4% 2 – Quebec – 13.6% 3 – British Columbia – 9.2% 4 – – 4.2% 5 – Saskatchewan – 4.0% 6 – Newfoundland and Labrador – 3.6% 7 – – 3.1% 8 – – 1.6% 9 – New Brunswick – 0.8% 10 – Prince Edward Island – 0.5%

Gross Area by Province

1 – Ontario – 55.5% 2 – Quebec – 14.5% 3 – British Columbia – 9.9% 4 – Saskatchewan – 4.6% 5 – Alberta – 4.1% 6 – Manitoba – 4.1% 7 – Newfoundland and Labrador – 3.8% 8 – Nova Scotia – 1.8% 9 – New Brunswick – 1.0% 10 – Prince Edward Island – 0.7%

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 10 Top 25 Tenants

Number Gross Remaining Rank Tenant of Stores Rental Revenue Lease Term (%) (years) 1 Walmart 81 24.9 9.7 2 / Mark's / Forzani Group 70 5.2 7.8 3 Winners 37 3.7 6.4 4 Best Buy / Future Shop 32 3.2 4.2 5 Reitmans 117 2.9 4.3 6 Sobeys 12 2.2 7.9 7 Rona 7 2.1 9.4 8 Staples 23 1.8 4.2 9 Home Outfitters 13 1.8 4.9 10 Michaels 21 1.5 4.8 11 LCBO 24 1.3 10.6 12 Dollarama 33 1.2 5.5 13 The Brick 8 1.2 7.4 14 Cara Restaurants 38 1.2 5.0 15 Loblaws 6 1.2 10.0 16 Gap Inc. 19 1.0 4.4 17 Shoppers Drug Mart 12 1.0 8.5 18 Bonnie Togs 28 0.9 7.0 19 Bouclair 21 0.8 4.6 20 Sail 3 0.8 13.5 21 CIBC 17 0.7 6.1 22 Sleep Country 28 0.7 3.8 23 Payless Shoesource 49 0.7 2.6 24 Metro 6 0.7 8.4 25 PetSmart 11 0.7 5.0 Total 716 63.4 8.3

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 11 Lease Expiration Schedule

Number Annualized Base Average Year of Expiry of Stores Area Area Rent Rent psf (sq. ft.) (%) ($) ($) Month-to-month and Holdovers 74 164,871 0.6 3,165,743 19.20 2013 77 94,884 0.4 2,048,856 21.59 2014 303 1,065,748 3.9 19,392,462 18.20 2015 304 1,351,942 4.9 26,517,230 19.61 2016 296 1,711,378 6.2 30,496,933 17.82 2017 287 1,779,408 6.5 34,211,849 19.23 2018 346 2,224,490 8.1 45,155,914 20.30 2019 150 2,489,676 9.0 32,748,882 13.15 2020 116 2,355,454 8.6 28,749,207 12.21 2021 131 2,419,186 8.8 28,305,106 11.70 2022 148 2,911,858 10.6 34,506,380 11.85 2023 181 2,270,349 8.3 31,875,418 14.04 2024 29 1,438,288 5.3 19,466,114 13.53 2025 16 803,886 2.9 8,163,488 10.16 2026 23 948,383 3.5 11,680,000 12.32 2027 23 1,444,005 5.3 17,743,946 12.29 2028 13 343,196 1.3 5,078,591 14.80 Beyond 12 1,300,410 4.8 18,295,764 14.07 Vacant 113 269,316 1.0 - - Total 2,642 27,386,728 100.0 397,601,883 14.66

Weighted Average Lease Expiry by area = 7.6 years

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 12 Area by Age

Age Area Area (sq. ft.) (%) 2002 – present 19,868,046 72.5 1995 – 2001 6,507,581 23.8 Before 1994 1,011,101 3.7 Total 27,386,728 100.0

Portfolio of high quality, newly developed assets with an average age of 10.8 years and minimal capex requirements.

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 13 Future Earnouts and Developments

Total Gross Invested Net Yield / Year Area Area Income Commitment To-date Commitment Cap Rate (sq. ft.) (%) ($000s) ($000s) ($000s) ($000s) (%) Committed Earnouts 2013 85,716 2.6% 1,624 19,813 14,482 5,331 8.2% 2014 and beyond 96,007 2.9% 1,957 25,872 9,826 16,046 7.6% Total Committed Earnouts 181,723 5.5% 3,581 45,685 24,308 21,377 7.8%

Committed Developments 2013 17,646 0.5% 445 5,687 (1) 3,962 (1) 1,725 7.8% (2) 2014 and beyond 136,829 4.2% 3,618 34,740 (1) 15,474 (1) 19,266 10.4% (2) Total Committed Developments 154,475 4.7% 4,063 40,427 19,436 20,991 10.1%

Uncommitted Future Developments Earnouts 1,159,671 35.3% 23,260 326,741 61,269 265,472 7.1% Developments 1,788,851 54.5% 35,432 486,001 (1) 155,036 (1) 330,965 7.3% (2) Total Uncommitted Future Developments 2,948,522 89.8% 58,692 812,742 216,305 596,437 7.2%

Total before Non-cash 3,284,720 100.0% 66,336 898,854 260,049 638,805 7.4% Development Cost Non-cash Development Cost 60,430 Vaughan Metropolitan Centre (“VMC”) (3) 56,439 Total 3,284,720 100.0% 66,336 898,854 376,918 638,805 7.4%

(1) Includes fair value adjustment for land. (2) On a cost basis, the yield would be 7.7%, 9.4% and 9.2%, respectively. (3) Developments do not include the estimated 3 million square feet relating to Calloway’s 50% ownership of the VMC

Committed Earnouts and Developments Executed Total Gross Invested Net Yield / Year Leases Area Income Commitment To-date Commitment Cap Rate (sf) (%) ($000s) ($000s) ($000s) ($000s) (%) 2013 103,362 3.1% 2,069 25,500 (1) 18,444 (1) 7,056 8.1% (2) 2014 and beyond 232,836 7.1% 5,575 60,612 (1) 25,300 (1) 35,312 9.2% (2) Total before Non-cash 336,198 10.2% 7,644 86,112 (1) 43,744 (1) 42,368 8.9% (2) Development Cost

(1) Includes fair value adjustment for land. (2) On a cost basis, the yield would be 8.1%, 8.6% and 8.5%, respectively.

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 14 Recourse Loans to Developers

Total Leasable Loan Interest Area upon Purchase Project Outstanding Committed Maturity Date Rate Option Completion Option ($000s) ($000s) (%) (%) (sq. ft.) (sq. ft.) Pitt Meadows, BC (1) 21,809 62,119 December 2017 7.41% 50% 469,512 234,756 Salmon Arm, BC (2, 3) 14,147 23,264 October 2017 4.70% 0% 215,724 0 Aurora (South), ON 11,855 34,807 June 2020 7.25% 50% 190,535 95,268 Caledon (Mayfield), ON 8,620 12,372 December 2016 7.50% 50% 152,028 76,014 Caledon (Valleywood), ON 12,212 17,413 December 2016 7.50% 50% 135,485 67,743 Innisfil, ON (2,4) 17,043 27,077 December 2020 3.22% 0% 139,744 0 Mirabel (Outlet), QC (5) 310 11,550 December 2016 6.50% 0% 391,176 0 Mirabel (Retail Centre I), QC (6) 371 18,650 December 2022 7.50% 0% 256,000 0 Mirabel (Retail Centre II), QC (5) 266 6,000 December 2022 7.50% 0% 211,000 0 Toronto (Eastern), ON (2, 7) 23,325 40,102 December 2017 7.34% 50% 427,659 106,915 Vaughan (7 & 427), ON 51,072 68,843 December 2020 7.25% 50% 285,278 142,639 Montreal (Saint-Michel), QC 13,989 23,650 November 2015 7.75% 50% 198,129 99,065 Total 175,019 345,847 6.75% 27% 3,072,270 822,400

(1) Monthly variable rate based on a fixed rate of 7.25% on loans outstanding up to $15.0M and a fixed rate of 7.75% on any additional loans above $15.0M. (2) Calloway owns a 50% interest. The loan is secured against the remaining 50%. (3) Monthly variable rate based on a fixed rate of 6.35% on loans outstanding up to $7.2M and the bankers’ acceptance rate plus 1.75% on any additional loans above $7.2M. (4) Monthly variable rate based on the bankers’ acceptance rate plus 2.00%. (5) Calloway owns a 25% interest. The loan is secured against a 25% interest owned by one of the joint venture partners. (6) Calloway owns a 33.3% interest. The loan is secured against a 33.3% interest owned by one of the joint venture partners. (7) Monthly variable rate based on a fixed rate of 7.25% on loans outstanding up to $19.0M and a fixed rate of 7.75% on any additional loans above $19.0M.

Note: Of the $170.8M of remaining loan advances available, $80.9M is set aside as interest accrual reserve.

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 15 Individual Property Summary

Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)

Retail Properties

British Columbia

Walmart Supercentre, Winners, Courtenay SmartCentre Courtenay, BC 99.0 273,289 135,899 - Staples, Future Shop, , Mark's, RBC Walmart Supercentre, Real Cranbrook SmartCentre Cranbrook, BC 100.0 141,772 107,158 185,556 Canadian Superstore*, Home Hardware*, Mark's Walmart Supercentre*, Rona*, Cowichan Commons East Duncan, BC 100.0 234,308 188,680 245,696 Canadian Tire, Home Depot, Future Shop Walmart Supercentre, Michaels, Kamloops SmartCentre Kamloops, BC 97.1 217,790 128,609 - Lordco Auto Parts, Pier 1 Imports, Reitmans Walmart Supercentre, Home Langley SmartCentre Langley, BC 98.9 351,224 261,497 172,161 Depot*, Save-on-Foods*, Home Outfitters, London Drugs Walmart Supercentre, Home New Westminster, BC 98.3 433,818 159,449 - Outfitters, Best Buy, Tommy SmartCentre Hilfiger, Bonnie Togs Real Canadian Superstore, Penticton Power Centre Penticton, BC 98.6 202,199 110,795 - Staples, Winners, Petcetera, TD Canada Trust Walmart Supercentre, Home Prince George SmartCentre Prince George, BC 98.9 288,341 165,350 204,247 Depot*, Canadian Tire*, Michaels, Mark's, Petland Walmart Supercentre, Dollar Tree, Surrey West SmartCentre Surrey, BC 100.0 187,156 133,943 - Ardene, Sleep Country, Reitmans Walmart Supercentre, Rona*, Vernon SmartCentre Vernon, BC 100.0 259,296 144,782 50,300 Future Shop, Value Village, Mark's Subtotal British Columbia 99.0 2,589,193 1,536,162 857,960

Alberta Walmart Supercentre, London Calgary Southeast Calgary, AB 100.0 246,085 199,758 - Drugs, Mark's, Reitmans, Bonnie SmartCentre Togs Re/Max, Respiratory Homecare Crowchild Corner Calgary, AB 100.0 23,377 - - Solutions Inc. Edmonton Northeast Walmart Supercentre, Michaels, Edmonton, AB 97.8 274,353 161,925 - SmartCentre Mark's, Bulk Barn, Moores Walmart Supercentre, Home Lethbridge SmartCentre Lethbridge, AB 100.0 333,092 194,564 95,000 Depot*, Ashley Furniture, Best Buy, Mark's Walmart Supercentre, Save-on- St. Albert SmartCentre St. Albert, AB 100.0 251,329 197,101 91,737 Foods*, Totem*, Mark's, Canadian Western Bank Subtotal Alberta 99.5 1,128,236 753,348 186,737 Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 16 Individual Property Summary

Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)

Saskatchewan

Walmart Supercentre, Real Regina East SmartCentre (I) Regina, SK 100.0 398,003 282,845 218,681 Canadian Superstore*, Rona*, HomeSense, London Drugs Rona, Wholesale Sports, Regina East SmartCentre (II) Regina, SK 100.0 198,110 107,608 - PetSmart, Old Navy, Petland Walmart Supercentre, IGA, Mark's, Regina North SmartCentre Regina, SK 100.0 276,251 206,339 - Dollarama, Bulk Barn, TD Canada Trust Walmart Supercentre, Home Saskatoon South Saskatoon, SK 100.0 374,722 194,210 98,395 Depot*, HomeSense, The Brick, SmartCentre Ashley Furniture, Golf Town Subtotal Saskatchewan 100.0 1,247,086 791,002 317,076

Manitoba Rona, Costco*, Indigo Books, Golf Kenaston Common Winnipeg, MB 93.9 257,222 98,570 146,000 Town, Petland, Nygard, CIBC, SmartCentre HSBC, RBC Walmart Supercentre, Home Winnipeg Southwest Winnipeg, MB 100.0 528,180 281,606 95,000 Depot*, Safeway, Home Outfitters, SmartCentre HomeSense Walmart Supercentre, Canadian Winnipeg West SmartCentre Winnipeg, MB 98.9 329,465 - 75,240 Tire*, Sobeys, Winners, Value Village, Staples Subtotal Manitoba 98.3 1,114,867 380,176 316,240

Ontario Walmart Supercentre, Canadian Ancaster SmartCentre Ancaster, ON 100.0 238,781 163,794 51,268 Tire*, Future Shop, Bouclair, Dollar Tree Walmart Supercentre, Rona, Best Aurora North SmartCentre** Aurora, ON 96.2 250,967 156,819 - Buy, Golf Town, Dollarama, RBC, TD Canada Trust Canadian Tire*, Winners, Bank of Aurora SmartCentre Aurora, ON 93.6 51,187 - 63,500 Nova Scotia Walmart Supercentre, Zehrs*, Old Barrie North SmartCentre Barrie, ON 100.0 234,700 160,727 81,373 Navy, Bonnie Togs, Addition-Elle, Reitmans Walmart, Sobeys, Winners, La-Z- Barrie South SmartCentre Barrie, ON 100.0 377,195 210,940 - Boy, Michaels, PetSmart, Stitches, Dollar Tree, CIBC Walmart Supercentre, LCBO, Bolton SmartCentre Bolton, ON 100.0 235,793 161,864 - Mark's, Reitmans LA Fitness, LCBO, Dollarama, Bramport SmartCentre , ON 100.0 120,298 45,877 - Swiss Chalet, Bulk Barn, CIBC,

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 17 Individual Property Summary

Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)

Walmart Supercentre, The Brick, Brampton East SmartCentre Brampton, ON 98.1 360,694 243,610 - Winners, Staples, Mark's, Bonnie Togs Fortinos*, Shoppers Drug Mart, Brampton North Brampton, ON 96.8 53,394 - 62,496 Synergy Performing Arts SmartCentre Acadamey, RBC Walmart Supercentre*, Real Brockville SmartCentre Brockville, ON 100.0 137,873 - 380,370 Canadian Superstore*, Home Depot*, Winners, Future Shop Toys R Us, LA Fitness, Shoppers Burlington (Appleby) Burlington, ON 100.0 151,115 100,646 - Drug Mart, Golf Town, Bank of SmartCentre Montreal Walmart Supercentre, Dollar Tree, Burlington North Burlington, ON 100.0 226,451 161,127 129,663 Reitmans, Moores, Bank of Nova SmartCentre Scotia Walmart Supercentre, Rona, Best Cambridge SmartCentre (I) Cambridge, ON 100.0 695,985 281,345 - Buy, Staples, Bed Bath & Beyond, Michaels, Future Shop Home Depot*, Canadian Tire*, Cambridge SmartCentre (II) Cambridge, ON 78.8 23,938 - 134,720 2001 Audio Video, Henry's Photography Walmart Supercentre, Dollarama, Carleton Place SmartCentre Carleton Place, ON 100.0 148,885 115,811 - Mark's, Bulk Barn, EasyHome Walmart Supercentre, Zehrs*, Chatham SmartCentre** Chatham, ON 100.0 152,053 101,053 125,000 Winners, Mark's, PetSmart, Dollarama, LCBO Walmart Supercentre, Home Cobourg SmartCentre Cobourg, ON 97.8 188,189 142,634 85,000 Depot*, Winners, Swiss Chalet Home Depot*, Winners, Sport Leaside SmartCentre East York, ON 96.7 229,823 108,632 131,000 Chek, Best Buy, Sobeys, Golf Town, LCBO, RBC Etobicoke (Index) Sail, Marshalls, PetSmart, Bouclair, Etobicoke, ON 100.0 168,203 107,838 - SmartCentre Bombay Company, Penningtons Walmart Supercentre, Home Etobicoke SmartCentre Etobicoke, ON 100.0 294,734 199,824 135,000 Depot*, Best Buy, Sport Chek, Old Navy, Mark's Walmart Supercentre*, Dollarama, Rexdale SmartCentre Etobicoke, ON 100.0 35,174 - 126,083 Bank of Nova Scotia Walmart Supercentre, Home Guelph SmartCentre Guelph, ON 100.0 294,554 171,396 110,000 Depot*, HomeSense, Michaels, Dollarama, CIBC, RBC The Bay Outlet, Polo Ralph Toronto Premium Outlets Halton Hills, ON 99.0 159,248 - - Lauren, Restoration Hardware, (Halton Hills)** Nike, Columbia, Coach, Guess Walmart Supercentre, Shoppers Hamilton South Hamilton, ON 98.8 223,665 124,524 - Drug Mart, LCBO, Dollarama, The SmartCentre Beer Store, CIBC Walmart Supercentre, Your Huntsville SmartCentre Huntsville, ON 100.0 126,436 84,861 68,837 Independent Grocer*, Dollar Tree, Mark's Walmart Supercentre, Dollarama, Kanata SmartCentre Kanata, ON 100.0 191,828 155,739 - Bulk Barn, CIBC, RBC Kapuskasing SmartCentre Kapuskasing, ON 100.0 71,306 61,087 - Walmart, Dollar Tree

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 18 Individual Property Summary

Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)

Target, Rona*, Zehrs*, Home Laurentian Power Centre Kitchener, ON 100.0 185,993 150,793 220,978 Outfitters, Staples, CIBC Walmart, No Frills, Winners, London East Argyle Mall London, ON 100.0 344,421 162,101 - Staples, Sport Chek, GoodLife Fitness, LCBO, CIBC Walmart Supercentre, Canadian London North London, ON 98.5 237,236 101,183 108,262 Tire*, Future Shop, Winners, Sport SmartCentre** Chek, HomeSense London Northwest Boston Pizza, Montana's, Bank of London, ON 100.0 36,214 - - SmartCentre Montreal, TD Canada Trust, RBC Home Depot, Longo's*, Winners, Markham Woodside Markham, ON 100.0 168,689 - - Staples, Chapters, Michaels, La-Z- SmartCentre** Boy, LCBO Walmart Supercentre*, Canadian Milton Walmart Centre** Milton, ON 94.6 98,747 - 263,400 Tire*, Indigo, Michaels, Staples, Mark's, RBC Walmart Supercentre, No Frills, Mississauga (Erin Mills) Mississauga, ON 99.7 283,823 171,973 - GoodLife Fitness, Shoppers Drug SmartCentre Mart, Dollarama Real Canadian Superstore*, Toys Mississauga (Go Lands) Mississauga, ON 100.0 56,506 - 115,000 R Us, Marshalls, Dollarama, TD SmartCentre** Canada Trust Walmart Supercentre, Rona, Home Mississauga (Meadowvale) Mississauga, ON 100.0 547,903 325,691 - Outfitters, Winners, Staples, SmartCentre Michaels, Mark's Walmart, Dollarama, Mark's, Napanee SmartCentre Napanee, ON 100.0 109,565 88,649 - EasyHome Walmart Supercentre, Petsmart, Niagara Falls SmartCentre Niagara Falls, ON 100.0 249,745 183,698 - Penningtons, Dollarama, LCBO, Bulk Barn Real Canadian Superstore*, 401 & Weston Power North York, ON 96.3 172,476 - 180,000 Canadian Tire, The Brick, Home Centre** Outfitters, Future Shop Target, Metro, Shoppers Drug South Oakville Centre Oakville, ON 100.0 272,905 150,989 - Mart, LCBO, The Beer Store, CIBC, TD Canada Trust Walmart Supercentre, Canadian Orleans SmartCentre Orleans, ON 100.0 384,015 232,635 117,136 Tire*, Home Outfitters, Future Shop, Shoppers Drug Mart Walmart Supercentre, Loblaws, Oshawa North SmartCentre Oshawa, ON 100.0 558,157 341,156 115,832 Home Depot*, Marshalls, Sport Chek, Future Shop, Michaels Walmart Supercentre, Lowe's, Sail, Oshawa South Oshawa, ON 99.1 268,361 215,269 - Urban Barn, Moores, Reitmans, SmartCentre** CIBC, RBC Ottawa (Laurentian Place) Walmart Supercentre, Stantec, Ottawa, ON 100.0 123,268 112,391 - SmartCentre** CIBC Walmart Supercentre, Loblaws, Ottawa South Ottawa, ON 99.5 261,551 118,972 - Cineplex Odeon, Future Shop, SmartCentre** Winners, Staples Walmart Supercentre, Home Owen Sound SmartCentre Owen Sound, ON 100.0 158,074 105,963 131,000 Depot*, Penningtons, Dollarama, Reitmans

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 19 Individual Property Summary

Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)

Walmart Supercentre, Lowe's, Pickering SmartCentre Pickering, ON 96.1 546,205 393,572 82,000 Sobeys, Canadian Tire*, Toys R Us, Winners, LCBO Walmart Supercentre, LCBO, Port Perry SmartCentre Port Perry, ON 100.0 132,026 92,473 - Mark's, Dollarama, Bank of Nova Scotia Walmart Supercentre, Metro, Richmond Hill Richmond Hill, ON 99.1 136,306 65,461 - Shoppers Drug Mart, HSBC, Bank SmartCentre** of Montreal Walmart Supercentre, Dollarama, Rockland SmartCentre Rockland, ON 100.0 147,592 115,890 - LCBO, Boston Pizza, Bulk Barn Walmart Supercentre, Winners, Sarnia SmartCentre Sarnia, ON 100.0 342,617 214,513 - Michaels, PetSmart, LCBO, Penningtons, Dollarama Walmart Supercentre, Winners, Scarborough (1900 Scarborough, ON 100.0 380,090 254,693 - Mark's, LCBO, David's Bridal, Bank Eglinton) SmartCentre of Montreal Scarborough East Walmart Supercentre, Cineplex Scarborough, ON 98.9 282,156 225,385 - SmartCentre Odeon, LCBO, Reitmans Walmart Supercentre, Real St. Catharines West St. Catharines, ON 100.0 402,213 262,620 182,132 Canadian Superstore*, Canadian SmartCentre (I) Tire*, Home Outfitters The Brick, Michaels, Shoppers St. Catharines West St. Catharines, ON 91.9 120,438 35,108 - Drug Mart, Golf Town, Bouclair, SmartCentre (II) Bulk Barn Walmart Supercentre, Real St. Thomas SmartCentre St. Thomas, ON 100.0 222,928 138,567 189,252 Canadian Superstore*, Canadian Tire*, Staples, Dollar Tree Food Basics, JYSK, Future Shop, Centennial Parkway Plaza Stoney Creek, ON 100.0 123,265 39,271 - King's Buffet Walmart Supercentre*, Canadian Stouffville SmartCentre Stouffville, ON 100.0 162,968 69,283 162,633 Tire, Winners, Staples, Dollarama, Bouclair Walmart Supercentre, LCBO, Sudbury South SmartCentre Sudbury, ON 98.3 233,046 183,708 - Mark's, Dollarama, Bouclair Toronto Stockyards Walmart*, Bank of Montreal, Toronto, ON 100.0 8,615 - 128,194 SmartCentre Citifinancial Canadian Tire, FreshCo., Dollar Westside Mall Toronto, ON 100.0 144,407 110,019 - Tree, CIBC Rutherford Village Shopping Sobeys, TD Canada Trust, Rogers Vaughan, ON 86.5 104,226 48,890 - Centre Video, Tim Hortons Sail, The Brick, Home Depot*, Vaughan (400 & 7) Vaughan, ON 95.4 252,966 124,989 100,000 Staples, Value Village, GoodLife SmartCentre Fitness Walmart Supercentre, Future Vaughan SmartCentre** Vaughan, ON 97.1 131,854 97,623 - Shop, Home Outfitters Walmart Supercentre, Canadian Welland SmartCentre Welland, ON 100.0 240,663 221,327 98,784 Tire*, Rona, Mark's, Dollar Tree Walmart Supercentre, Real Whitby North SmartCentre Whitby, ON 100.0 279,153 178,841 148,571 Canadian Superstore*, Mark's, LCBO, Bank of Nova Scotia Boston Pizza, Swiss Chalet, Sgt. Whitby Northeast Whitby, ON 82.9 39,249 - - Pepper's, Popeyes, Bell World, SmartCentre RBC

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 20 Individual Property Summary

Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)

Whitby Shores Shopping Metro, LCBO, Lovell Drugs, Bank Whitby, ON 100.0 85,344 39,919 - Centre of Nova Scotia Walmart Supercentre, Part Source, Windsor South SmartCentre Windsor, ON 100.0 230,886 129,121 - Dollarama, PetSmart, Moores, The Beer Store, CIBC Canadian Tire*, Fortinos*, Woodbridge SmartCentre** Woodbridge, ON 93.1 216,970 - 142,073 Winners, Best Buy, Toys R Us, Chapters, Michaels, CIBC Walmart Supercentre, Canadian Woodstock SmartCentre Woodstock, ON 100.0 256,830 - 93,333 Tire*, Staples, Mark's, Bonnie Togs, Reitmans Subtotal Ontario 99.0 15,183,131 8,562,884 4,262,890

Quebec Walmart, Rona*, Famous Players*, Hull SmartCentre** Hull, QC 100.0 148,260 52,700 227,717 Super C*, Winners, Staples, Bouclair, Mark's Kirkland SmartCentre Kirkland, QC 100.0 207,216 202,271 - Walmart, The Brick Walmart Supercentre, Canadian Laval East SmartCentre Laval, QC 100.0 534,789 340,736 - Tire, IGA, Winners, Michaels, Bouclair, Dollarama, SAQ Walmart Supercentre, Rona, Laval West SmartCentre Laval, QC 99.5 588,073 348,810 124,000 Canadian Tire*, IGA*, Home Outfitters, Future Shop, Staples Walmart, Canadian Tire*, TD Magog SmartCentre Magog, QC 100.0 106,976 101,854 60,000 Canada Trust Walmart Supercentre, Rona*, IGA, Mascouche SmartCentre Mascouche, QC 99.4 407,799 261,834 120,000 Home Outfitters, Winners, Staples, Future Shop Montreal (Decarie) Walmart, Toys R Us, Baton Rouge, Montreal, QC 95.4 130,952 64,104 - SmartCentre** Suzy Shier, P.F. Chang's, Roots Walmart Supercentre, IGA, Montreal North SmartCentre Montreal, QC 100.0 257,694 173,668 - Winners, Dollarama, Le Chateau, TD Canada Trust , Super C, Pharmaprix, Place Bourassa Mall Montreal, QC 100.0 265,732 171,102 - L'Aubainerie, SAQ Walmart, Tanguay*, Super C*, Rimouski SmartCentre Rimouski, QC 100.0 243,556 127,087 119,000 Winners, Future Shop, SAQ, Dollarama Walmart, Home Depot*, Super C, Saint-Constant SmartCentre Saint-Constant, QC 99.6 304,922 168,235 95,000 L’Aubainerie Concept Mode, Mark's, Dollarama Walmart Supercentre, Maxi*, Saint-Jean SmartCentre Saint-Jean, QC 97.0 223,349 127,356 80,000 Michaels, Mark's, Bouclair, TD Canada Trust Walmart Supercentre*, Home Saint-Jerome SmartCentre Saint-Jerome, QC 98.1 164,001 44,856 247,500 Depot*, IGA, Future Shop, Michaels, Bouclair Walmart, Home Depot*, Canadian Sherbrooke SmartCentre Sherbrooke, QC 100.0 210,820 163,807 170,000 Tire*, The Brick, Best Buy, Mark's, TD Canada Trust

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 21 Individual Property Summary

Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)

Walmart, Supercentre Dollarama, Valleyfield SmartCentre Valleyfield, QC 100.0 161,941 107,128 - SAQ, Reitmans Walmart*, Home Depot*, Maxi*, Victoriaville SmartCentre Victoriaville, QC 63.7 27,534 - 259,519 Winners, Reitmans Subtotal Quebec 99.2 3,983,614 2,455,548 1,502,736

New Brunswick Walmart Supercentre, Kent*, Saint John SmartCentre Saint John, NB 98.9 261,298 173,390 182,122 Canadian Tire*, Winners, Future Shop, Old Navy, CIBC Subtotal New Brunswick 98.9 261,298 173,390 182,122

Nova Scotia Walmart, Atlantic Superstore, Colby Village Plaza Dartmouth, NS 100.0 152,633 108,659 - Cleves Source for Sports, Pharma Save, Bank of Nova Scotia Zellers*, Atlantic Superstore*, Halifax Bayers Lake Centre Halifax, NS 100.0 167,788 35,483 180,000 Future Shop, Winners, Bouclair, Addition-Elle Walmart*, Sport Chek, Mark's, Bulk New Minas SmartCentre New Minas, NS 95.5 46,129 - 108,994 Barn, Bank of Nova Scotia Walmart, Kent*, Dollarama, Truro SmartCentre Truro, NS 97.3 132,953 106,329 60,000 Stitches, Reitmans, Penningtons Subtotal Nova Scotia 98.9 499,503 250,471 348,994

Prince Edward Island Walmart, Canadian Tire*, Home Charlottetown SmartCentre Charlottetown, PE 98.0 202,290 104,392 170,000 Depot*, Michaels, Future Shop, Old Navy, Gap Outlet Subtotal Prince Edward Island 98.0 202,290 104,392 170,000

Newfoundland Walmart, Canadian Tire*, Corner Brook SmartCentre Corner Brook, NL 99.1 179,004 106,352 135,240 Dominion (Loblaw)*, Staples, Mark's, Bulk Barn Walmart*, Buck or Two, Gander SmartCentre Gander, NL 91.8 25,502 - 88,402 Penningtons, EasyHome, Bank of Nova Scotia Walmart, Canadian Tire*, Mount Pearl SmartCentre Mount Pearl, NL 100.0 261,890 161,001 165,351 Dominion (Loblaw)*, Staples, GoodLife Fitness, Mark's, CIBC Shoppers Drug Mart, Rogers Pearlgate Shopping Centre Mount Pearl, NL 100.0 42,951 - - Video, Bulk Barn, TD Canada Trust

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 22 Individual Property Summary

Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)

Walmart*, Home Depot*, Canadian St. John's Central St. John's, NL 98.3 153,642 48,808 310,854 Tire*, Sobeys, Staples, Mark's, SmartCentre Dollarama Walmart, Dominion (Loblaw)*, St. John's East SmartCentre St. John's, NL 97.8 370,604 128,273 80,000 Winners, Staples, Future Shop, Michaels, Sport Chek Subtotal Newfoundland 98.6 1,033,593 444,434 779,847

Total Retail Properties 99.0 27,242,811 15,451,807 8,924,602

Industrial / Office Properties MTU Maintenance, Amre Supply Airtech Centre Richmond, BC 96.1 126,488 50,193 - Co., William L. Rutherford, RE/MAX Navigator Limited, Irish Embassy British Colonial Building Toronto, ON 100.0 17,429 - - Pubs Inc. Total Industrial / Office Properties 96.6 143,917 50,193 -

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 23 Individual Property Summary

Owned Rentable Owned Rentable Non-Owned Property Location Occupancy Area Anchor Area (1) Anchor Area (1) Anchors and Major Tenants (%) (sq. ft.) (sq. ft.) (sq. ft.)

Retail Development Lands

Quesnel SmartCentre Quesnel, BC - - - 82,316 Walmart*

Salmon Arm SmartCentre** Salmon Arm, BC - - - - Walmart(2)

Dunnville SmartCentre Dunnville, ON - - - 129,343 Canadian Tire*, Sobeys*

Fort Erie SmartCentre Fort Erie, ON - - - 140,142 Walmart Supercentre*, No Frills*

Innisfil SmartCentre** Innisfil, ON - - - -

Toronto (Eastern) Centre** Toronto, ON - - - - -

Mirabel SmartCentre (I)** Mirabel, QC - - - - -

Mirabel SmartCentre (II)** Mirabel, QC - - - - -

Montreal Premium Outlets Mirabel, QC - - - - - (Mirabel)** Fredericton North Fredericton, NB - - - 234,906 Walmart*, Canadian Tire*, Kent* SmartCentre

Total Retail Development Lands - - - 586,707

Total Portfolio 99.0 27,386,728 15,502,000 9,511,309

* Non-owned anchor. ** Calloway interest – indicates Calloway’s ownership interest (Calloway owns a 25% interest in Mirabel SmartCentre (II) and Montreal Premium Outlets (Mirabel), a 33.3% interest in Mirabel SmartCentre (I), a 44.4% interest in 401 & Weston Power Centre, a 49.9% interest in Hull SmartCentre, 50% interests in Aurora North SmartCentre, Chatham SmartCentre, Innisfil SmartCentre, London North SmartCentre, Markham Woodside SmartCentre, Milton Wal-Mart Centre, Montreal (Decarie) SmartCentre, Oshawa South SmartCentre, Ottawa South SmartCentre, Richmond Hill SmartCentre, Salmon Arm SmartCentre, Toronto (Eastern) Centre , Toronto Premium Outlets (Halton Hills), and Woodbridge SmartCentre).

(1) Anchors are tenants in excess of 30,000 square feet. (2) Currently in the development phase (Salmon Arm SmartCentre).

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 24 General Information

Stock Exchange Listing: The (TSX)

Trading Symbols: Trust Units CWT.UN 5.75% Convertible Debentures CWT.DB.B

Corporate Office: Calloway Real Estate Investment Trust 700 Applewood , Suite 200 Vaughan, ON, L4K 5X3 Canada

Tel: (905) 326-6400 Fax: (905) 326-0783

Senior Management: Huw Thomas President and Chief Executive Officer Mario Calabrese Interim Chief Financial Officer Rudy Gobin Executive Vice President Asset Management Steve Liew Vice President Finance and Acquisitions

Transfer Agent & Registrar: Computershare Share Trust Company of Canada 100 University Avenue, 9th Floor Toronto, ON, M5J 2Y1

Auditors: PricewaterhouseCoopers LLP PwC Tower 18 York Street, Suite 2600 Toronto, ON, M5J 0B2

Legal Counsel: Osler, Hoskin & Harcourt LLP 100 King Street West 1 First Canadian Place Suite 4600, P.O. Box 50 Toronto, ON, M5X 1B8

Calloway Real Estate Investment Trust September 2013 Supplemental Information Package 25