SUPPLEMENTAL INFORMATION PACKAGE June 30, 2019

INFINITE POSSIBILITIES… SECOND QUARTER REPORT TABLE OF CONTENTS

Notice to Reader …………………………………………………………………………...... ………….... 2 Conference Call Highlights ………….……..………………………………………………………………. 3 Looking Beyond ……………………………………………………..…………………………………… 11 Portfolio Highlights ……………………………...……………...…………………………………………. 16 Distribution Reinvestment Plan ……………………………………………...…………………………… 17 Distribution History …………………………………………..………………….…………..... 17 Performance of SmartCentres Units ………………………………………………………………...... 18 Average Unit Trading Price …………………………………………………………….…….. 18 Average Daily Volume of Units Traded ………………………………………..……………. 18 Market Capitalization Summary ………………………………………………..……………. 18 Gross Revenue and Area by Province ………………………………………………………………….. 19 Top 25 Tenants Ranked by Gross Rental Revenue …………………………………………...... 20 Lease Expiration Schedule ……………………………………………………………………………..… 21 Area by Age (Retail Only)…………………………………………………………………………….….. 22 Future Earnouts and Developments (Retail Only) ………………………………………………...... … 23 Major Mixed-Use Real Estate Initiatives ……….……………………………………………………...… 24 Recourse Loans to Developers ………………………………………………………………………….. 26 Individual Property Summary ………………………………………………………………………..…… 27 Corporate Information ……………………………………………………………………...... 40 .

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 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 Cashflow From Operations ("ACFO"), "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 information of the Trust in the Management’s Discussion and Analysis (“MD&A”) for the three and six months ended June 30, 2019. 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.

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 2 CONFERENCE CALL HIGHLIGHTS

OPERATIONS – FOR THE QUARTER ▪ FFO with one time adjustment for yield maintenance costs increased by $5.1 million or 5.6% to $96.1 million, while per Unit amounts of $0.56 on a per Unit basis remained the same, compared to the same quarter in 2018 ▪ ACFO with one time adjustment increased by $7.2 million or 8.2% to $95.6 million compared to the same quarter in 2018 ▪ Payout ratio to ACFO with one time adjustment increased by 0.6% to 80.5% compared to the same quarter in 2018 ▪ Committed and in-place occupancy rates were 98.0% and 97.8%, respectively, as at June 30, 2019, compared to 98.2% and 98.0%, respectively, as at June 30, 2018 ▪ Completed or was near completion on lease renewals totalling 2,861,648 square feet, representing 80.0% of lease maturities for June 30, 2019, with average face rent increases of 3.9% (4.8% excluding anchor tenants). In addition, completed or near completion on renewals totalling 403,918 square feet or 10.6% of 2020 lease maturities ▪ The weighted average stabilized capitalization rate for the investment property portfolio was 5.90% (December 31, 2018 – 5.92%)

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 3 CONFERENCE CALL HIGHLIGHTS

TENANT ACTIVITY ▪ Excluding SmartCentres Place, during 2019 SmartCentres expects to complete approximately 275,000 square feet of new retail developments including additional new stores for Indigo, Marshalls, Old Navy, HomeSense, End of the Roll, Yellow, etc. ▪ Approximately 49,932 square feet of retail and office tenancies (including equity accounted investments) were completed and transferred in the quarter via earnouts and developments, providing an average unleveraged yield of 5.6% ▪ 2.86 million square feet (80.0%) of 2019 lease expiries renewed at or near completion ▪ Bombay and Bowring filed for insolvency protection. SmartCentres had 12 term lease locations and 9 temporary lease locations, all in Walmart anchored or shadow anchored shopping centres. Management anticipates any available space to be quickly backfilled within the next 12-18 months at similar rents ▪ Payless Shoes filed for creditor protection and closed their Canadian stores. SmartCentres had 46 Payless locations representing 107,000 square feet and expects to backfill most of these locations over the next 12-18 months at similar rents ▪ None of the 27 Lowe's store closures are in SmartCentres’ portfolio ▪ Continued good interest from tenants for various size properties based on quality of locations ▪ Overall, SmartCentres continues to monitor closely those tenants in certain markets where some rationalizing is taking place

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 4 CONFERENCE CALL HIGHLIGHTS

GROWTH ▪ Same properties’ NOI decreased by $0.4 million or 0.3%compared to the same quarter in 2018 primarily as a result of tenant bankruptcies previously announced ▪ Premium Outlets - o the 144,000 square foot expansion opened in November 2018 and included some very exciting brand names such as Gucci, Prada, Coach, Armani, Burberry, Saint Laurent, Kate Spade, Montblanc and Zadig & Voltaire o tenant sales continuing to perform well, with average sales at almost $1,150 psf - Montreal o tenancy of long and short term tenants currently at 99.8% o 2019 sales levels expected to exceed $720 psf o 75-acre site adjacent to the centre under consideration for various uses including residential and hotel - SmartCentres continuing to work with Simon on two potential additional sites

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 5 CONFERENCE CALL HIGHLIGHTS

GROWTH (CONT’D) ▪ SmartCentres Place at the Vaughan Metropolitan Centre - 2017 successful launch for first residential developments in a joint venture with Penguin Investments and CentreCourt Developments Inc. with Transit City Condos 1, 2 & 3, which when complete will be 55 storeys each and have a total of approximately 1,741 units. All three towers substantially sold out at significantly increased pricing versus original proformas. Construction of all three towers progressing well with completion expected in 2020-2021 - next phase includes two additional condominium towers and the first residential purpose- built rental apartment. The three towers total approximately 1,600 units. Towers 4 and 5 will be 45 storeys (498 units) and 50 storeys (528 units) respectively, and will have direct access to 20,000 square feet of amenity space. Marketing of these two towers commenced in Spring 2019 and are now substantially sold out, and construction will begin later in the year. The apartment building will be 35 storeys. This phase includes expansive open green spaces designed by Claude Cormier & Associates. The open spaces are an integral part of the master plan at SmartCentres Place - construction of realignment of off-ramp from Hwy 400 at Hwy 7 to align with Applewood Crescent completed during Q2 2019 - significant internal road infrastructure on western portion of SmartCentres Place now underway, improving internal access and extending Applewood Crescent to align directly with the Hwy 400 off-ramp - office space now fully leased in the KPMG Tower - working on leasing balance of ground floor retail space which now includes TD Canada Trust, Bank of Montreal, International News and Pumpernickel's - second mixed-use tower with PwC as lead tenant as well as YMCA, a library and other community space. In the PwC-YMCA Tower, PwC fit-out has begun in the first half of 2019 with PwC opening later in 2019 and YMCA opening in the summer of 2020 - signed a 10-year (plus two 5-year extensions) lease transaction with Scotiabank to be a tenant occupying both the PwC-YMCA Tower’s top floor and a retail branch on the ground floor and they are expected to open for business later in 2019

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 6 CONFERENCE CALL HIGHLIGHTS

GROWTH (CONT’D) ▪ SmartCentres Place at the Vaughan Metropolitan Centre (cont’d) - SmartCentres Place Bus Terminal (York Regional Transit) finalizing construction and expected to be open in September 2019 - surface parking for 900 cars now available for subway commuters in two lots on the site and these are fully occupied Monday to Friday - subway which opened in December 2017, continuing to attract higher ridership levels ▪ Intensification / Redevelopment - JV with SmartStop Asset Management progressing for self storage sites. An additional site was recently approved bringing the current total to seven sites in the GTA now moving forward with more sites to follow. Sites include Leaside, Oshawa, Scarborough, Vaughan, Markham, and two in . Leaside site currently under construction with completion expected later in 2019 - agreements with Revera for multi-site retirement home development program recently completed. The first three sites approved are located in Oakville and two in Vaughan - Ottawa (Laurentian Place) SmartCentre – JV for 420-unit seniors apartment/retirement home with another retirement home operator, Selection Group announced recently - discussions with a number of potential partners to consider residential (including condominium, rental and single family homes), and other potential uses on existing retail sites underway - first six Tesla charging stations now open, with a further 15 sites being planned, as part of a comprehensive strategy to incorporate value-added services to many of the properties in the retail portfolio - in excess of 76 sites now under consideration for development / intensification, with initial planning for others underway

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 7 CONFERENCE CALL HIGHLIGHTS

GROWTH (CONT’D) ▪ Future Opportunities - earnouts and developments (including Premium Outlets) – committed retail pipeline (ie. executed leases) of approximately 198,000 square feet in place at a yield of 6.2% - the film studios at the StudioCentre at Lakeshore Boulevard East are very active and new sound stage is now open - Westside Mall – mixed-use opportunity for up to 2.5 million square feet resulting from Eglinton LRT line station and proposed GO interchange integrated with existing retail property moving forward with strong council support - Vaughan (400 & 7) SmartCentre – 20-acre site along Hwy 7 is now slated for approximately 2.5 million square feet of redevelopment, including residential, office, retail and entertainment. The site, under the Vaughan Official Plan, is permitted one of the highest densities in Vaughan, second only to the Vaughan Metropolitan Centre - Laval Centre o proposed mixed-use development, including office, residential, seniors housing and further retail, now underway o JV with Jadco progressing well and construction underway for first rental tower with initial occupancy expected in early 2020 - Pointe-Claire SmartCentre acquired in 2016 is now identified for significant intensification, with zoning now approved for up to 1.5 million square feet of residential, in various forms, and retirement homes - South Oakville Centre is now in active redevelopment, including both a residential development and the recently announced seniors home development with Revera ▪ Acquisitions - SmartCentres continues to seek acquisition opportunities that are both accretive and provide future development potential

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 8 CONFERENCE CALL HIGHLIGHTS

CAPITAL ACTIVITIES ▪ Arranged, with a major Canadian financial institution, a $170 million unsecured bank loan at a fixed rate of 3.26% for seven years, the proceeds of which were used to redeem all of the $150 million Series L 3.749% Debentures ▪ Leverage at 41.8% decreased from 44.7% in the same quarter in 2018 ▪ Total debt weighted average interest rate of 3.69% (3.75% in 2018) ▪ Interest coverage at 3.3X (3.1X in 2018) ▪ Unencumbered asset pool in excess of $4.5 billion ($3.9 billion in 2018, providing significant future flexibility. Pool contains high quality assets ▪ Rebalancing between secured and unsecured continues and is approximately 46%:54% based on current financing strategy (53%:47% in 2018) ▪ Annual distribution to increase in October 2019 to $1.85 from $1.80, representing a 2.8% increase ▪ Currently sourcing financing for Transit City Condos 4 & 5 ▪ Admitted into TSX “Dividend Aristocrat Index” pursuant to continuous track record of distribution increases ▪ Completed construction and mortgage financing for: - Laval Centre (first of two residential rental towers) - joint venture with Jadco - Self storage facilities (multiple locations) - joint venture with SmartStop has been arranged and credit facility with a group of lenders near completion

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 9 CONFERENCE CALL HIGHLIGHTS

2019 OUTLOOK ▪ 2019 operating FFO expected to grow based on: - developments and earnouts including completion of the Toronto Premium Outlets expansion - additional leasing at VMC including commencement of PwC lease - full year of refinancing benefits from 2018 and further 2019 benefits - 2019 transactional activities - $230 million equity issuance in January 2019 is expected to dilute 2019 FFO by approximately $0.06 or 3% and is being used to assist with development funding strategy

2020 OUTLOOK ▪ FFO per unit growth rate expected to accelerate in excess of 10% in 2020 as initial benefits of significant developments begin to be realized

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 10 VAUGHAN METROPOLITAN CENTRE LOOKING BEYOND

Vaughan Metropolitan Centre – aerial overlaid with a rendering of the first three Transit City condominiums

Construction of the Transit City Condos (Towers 1, 2 & 3)

Construction of the PwC- YMCA Tower to open Fall 2019

Artist's rendering of Transit City from the East Block of VMC (Towers 4 & 5 and first 35-storey rental building in left foreground)

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 11 LOOKING BEYOND

Ottawa (Laurentian Place) – Concept Plan

Pointe-Claire – Concept Plan

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 12 LOOKING BEYOND

Vaughan NW – Potential single family, self-storage, seniors residence (with Revera) development

South Oakville – Townhomes and seniors residence (with Revera) development

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 13 LOOKING BEYOND

Laval Centre – Concept Plan

Laval Centre – Artist's rendering of the Apartment Buildings (currently under construction)

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 14 LOOKING BEYOND

Retirement Homes with Revera

Self-Storage with SmartStop

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 15 PORTFOLIO HIGHLIGHTS

As at As at June 30, 2019 June 30, 2018

(in $000s, except for Unit and other non-financial data) Number of retail and other properties 152 154 Number of properties under development 7 7 Number of office properties 1 1 Number of mixed-use properties 4 2 Total number of properties owned 164 164 Number of Walmarts / Supercentres 101 / 99 101 / 96 Number of Walmarts / Supercentres (including shadows) 115 / 113 115 / 109 Gross leasable area (sq. ft.) 34,251,993 34,207,341 Total GLA in Walmart anchored centres (sq. ft.) 28,524,041 28,540,589 Future estimated retail development area (sq. ft.) 3,340,381 4,045,563 Committed occupancy rate 98.0% 98.2% In-place occupancy rate 97.8% 98.0% Average lease term to maturity 5.2 years 5.7 years Net retail rental rate (per occupied sq. ft.) $15.38 $15.22 Net retail rental rate excluding Anchors (per occupied sq. ft.) (1) $22.01 $21.57 Total assets (2) 9,676,090 9,046,739 Total unencumbered assets (3) 4,499,700 3,940,600 Debt (3)(4) 4,127,264 4,296,836 Total debt – Weighted average interest rate (5) 3.69% 3.75% Debt to aggregate assets (3)(4) 41.8% 44.7% Debt to gross book value (3)(4) 48.5% 51.4% Secured debt to aggregate assets 19.6% 23.6% Unencumbered assets to unsecured debt 2.05X 1.94X Interest coverage (3)(4) 3.3X 3.2X Debt to adjusted EBITDA (3)(4) 7.8X 8.5X Units outstanding (6) 170,118,375 160,704,177 Unit price (TSX: SRU.UN) $33.21 $30.53 Equity (fair value) 5,649,631 4,906,299 Equity (book value) (2) 5,286,865 4,921,463

Quarter ended Quarter ended June 30, 2019 June 30, 2018 FFO with one-time adjustment and before transactional FFO (3)(4)(7) $0.56 $0.57 FFO with one-time adjustment and transactional FFO (3)(4)(7) $0.56 $0.59 Payout ratio to ACFO (3)(4)(7)(8) 84.4% 79.9% Payout ratio to ACFO with one-time adjustment (3)(4)(7) 80.6% 79.9% Surplus of ACFO with one-time adjustment over distributions declared (8) 25,784 29,121 Surplus of ACFO with one-time adjustment over distributions paid (8) 59,855 56,411

(1) Anchors are defined as tenants within a property with leasable area greater than 30,000 square feet. (2) Represents a GAAP measure. (3) Represents a non-GAAP measure. The Trust’s method of calculating non-GAAP measures may differ from other reporting issuers’ methods and accordingly may not be comparable. For definitions and basis of presentation of the Trust’s non-GAAP measures, refer to the “Presentation of Non-GAAP Measures” section in the MD&A. (4) Includes the Trust’s share of equity accounted investments. (5) Includes convertible debentures and acquisition date fair value adjustments. (6) Total Units outstanding include Trust Units and LP Units, including 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 a reconciliation of these measures to the nearest consolidated financial statement measure. (8) The calculation of the Trust’s ACFO and related ACFO payout ratio, including comparative amounts, is a new financial metric pursuant to the February 2019 REALpac White Paper on ACFO. Comparison with other reporting issuers may not be appropriate. Payout ratio is calculated as declared distributions divided by ACFO.

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 16 DISTRIBUTION REINVESTMENT PLAN

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

SmartCentres' DRIP will be administered by Computershare Trust Company of Canada. 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:

SmartCentres 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

2019 2018 2017 2016 2015 ($) ($) ($) ($) ($)

January 0.15000 0.14583 0.14167 0.13750 0.13340 February 0.15000 0.14583 0.14167 0.13750 0.13340 March 0.15000 0.14583 0.14167 0.13750 0.13340 April 0.15000 0.14583 0.14167 0.13750 0.13340 May 0.15000 0.14583 0.14167 0.13750 0.13340 June 0.15000 0.14583 0.14167 0.13750 0.13340 July 0.14583 0.14167 0.13750 0.13340 August 0.14583 0.14167 0.13750 0.13340 September 0.14583 0.14167 0.13750 0.13340 October 0.15000 0.14583 0.14167 0.13750 November 0.15000 0.14583 0.14167 0.13750 December 0.15000 0.14583 0.14167 0.13750 Total 0.90000 1.76247 1.71252 1.66251 1.61310

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 17 PERFORMANCE OF SMARTCENTRES UNITS

AVERAGE UNIT TRADING PRICE

Per unit

2019 2018 2017 2016 2015 ($) ($) ($) ($) ($)

1st Quarter 33.16 29.76 32.47 31.33 30.17 2nd Quarter 33.71 29.35 32.22 34.78 29.45 3rd Quarter 30.79 30.66 36.59 29.75 4th Quarter 30.89 29.81 31.96 31.33 YTD / Annual 33.39 30.26 31.39 33.42 30.29 Closing trading price at end of 33.21 30.83 30.91 32.29 30.19 period

AVERAGE DAILY VOLUME OF UNITS TRADED

2019 2018 2017 2016 2015 ($) ($) ($) ($) ($)

1st Quarter 353,341 237,282 221,865 288,045 200,374 2nd Quarter 249,053 193,917 274,092 198,964 242,372 3rd Quarter 204,887 181,862 226,367 218,051 4th Quarter 296,705 215,099 278,983 334,127 Annual 300,780 233,138 223,428 247,612 248,924

MARKET CAPITALIZATION SUMMARY

Date Total Units Outstanding (1) Share price per Unit Market Capitalization ($) ($)

June 30, 2019 170,118,375 33.21 5,649,631,234 December 31, 2018 161,716,843 30.83 4,985,730,270 December 31, 2017 159,720,126 30.91 4,936,949,095 December 31, 2016 155,686,295 32.29 5,027,110,466 December 31, 2015 154,088,207 30.19 4,651,922,969

(1) Total Units outstanding include 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.

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 18 GROSS REVENUE AND AREA BY PROVINCE

GROSS REVENUE BY PROVINCE (%)

1 - - 63.1% 2 - Quebec - 14.0% 3 - British Columbia - 8.0% 4 - Saskatchewan - 3.8% 5 - Manitoba - 3.2% 6 - Alberta - 3.2% 7 - Newfoundland and Labrador - 2.8% 8 - Nova Scotia - 0.9% 9 - New Brunswick - 0.6% 10 - Prince Edward Island - 0.4%

GROSS AREA BY PROVINCE (%)

1 - Ontario - 58.5% 2 - Quebec - 15.3% 3 - British Columbia - 8.9% 4 - Saskatchewan - 4.4% 5 - Alberta - 4.3% 6 - Manitoba - 3.2% 7 - Newfoundland and Labrador - 3.0% 8 - Nova Scotia - 0.9% 9 - New Brunswick - 0.8% 10 - Prince Edward Island - 0.7%

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 19 TOP 25 TENANTS RANKED BY GROSS RENTAL REVENUE

Average Number of Gross Rental Remaining Rank Tenant Stores Revenues Lease Term (%) (years) 1 Walmart (1) 101 25.5 6.1 2 Canadian Tire, Mark's, FGL Sports 73 4.5 4.6 3 Winners, HomeSense, Marshalls 55 4.2 5.1 4 Loblaw, Shoppers Drug Mart 24 2.7 6.7 5 Lowe's, RONA 9 2.3 4.9 6 Sobeys 18 2.3 3.9 7 Reitmans 88 1.9 2.7 8 Best Buy 21 1.7 2.0 9 Dollarama 52 1.7 3.7 10 Michaels 25 1.5 3.0 11 LCBO 34 1.5 7.1 12 Recipe Unlimited 53 1.4 6.1 13 Staples 21 1.3 3.1 14 Gap Inc. 26 1.2 3.0 15 Bonnie Togs 47 1.1 3.8 16 Bulk Barn 52 1.0 5.2 17 Toys R Us 7 0.9 5.9 18 CIBC 27 0.9 2.4 19 The Brick 10 0.9 4.4 20 Dollar Tree, Dollar Giant 27 0.8 3.9 21 Sleep Country 37 0.8 6.5 22 Ricki's, Cleo, Urban Barn, Warehouse One 38 0.8 5.0 23 Metro 8 0.8 4.3 24 GoodLife Fitness Clubs 11 0.8 7.5 25 Sail 3 0.8 7.6

Total 867 63.3 5.5

(1) The Trust has a total of 101 Walmart locations under lease, of which 99 are Supercentres. The Trust has 14 shopping centres with Walmart as shadow anchors, all of which are Supercentres.

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 20 LEASE EXPIRATION SCHEDULE

Number Annualized Average Year of Expiry of Stores Area Area Base Rent Rent (sq. ft.) (%) ($) ($ psf)

Month-to-month and holdovers 116 342,043 1.0 6,638,000 19.41 2019 (remainder of year) 134 458,680 1.3 8,587,000 18.72 2020 425 3,743,270 10.9 51,615,000 13.79 2021 417 3,783,403 11.0 54,015,000 14.28 2022 419 4,430,624 12.9 63,562,000 14.35 2023 546 4,377,711 12.8 76,018,000 17.36 2024 410 4,439,810 13.0 67,222,000 15.14 2025 159 1,720,273 5.0 24,810,000 14.42 2026 159 1,493,302 4.4 26,521,000 17.76 2027 140 2,240,827 6.5 32,982,000 14.72 2028 159 1,405,832 4.1 25,859,000 18.39 2029 161 2,142,912 6.3 34,114,000 15.92 2030 18 652,999 1.9 10,788,000 16.52 2031 15 392,470 1.1 5,471,000 13.94 2032 9 849,102 2.5 12,532,000 14.76 2033 9 242,168 0.7 3,503,000 14.47 2034 6 284,992 0.8 3,628,000 12.73 Beyond 4 269,768 0.9 3,939,000 14.60 Vacant 251 740,817 2.2 - -

Total Retail 3,557 34,011,003 99.3 511,804,000 15.38

Total Office 240,990 0.7

Total Retail and Office 34,251,993 100.0

Weighted Average Lease Expiry by area = 5.2 years

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 21 AREA BY AGE (RETAIL ONLY)

Age Area Area (sq. ft.) (%)

2002 - present 25,072,439 73.7 1995 - 2001 7,466,988 22.0 Before 1995 1,471,576 4.3

Total 34,011,003 100.0

Portfolio of high quality, newly developed assets with an average age of 15.4 years and minimal capital expenditure requirements.

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 22 FUTURE EARNOUTS AND DEVELOPMENTS (RETAIL ONLY)

Total Gross Invested Net Yield / Year Area Area Income Commitment To-date Commitment Cap Rate (sq. ft.) (%) ($000s) ($000s) ($000s) ($000s) (%) EARNOUTS Committed Earnouts 2019 22,175 0.7% 425 6,054 1,702 4,352 7.0% 2020 and beyond 5,292 0.1% 164 2,610 1,934 676 6.3% Subtotal Committed Earnouts 27,467 0.8% 589 8,664 3,636 5,028 6.8%

Uncommitted Earnouts 2019 8,035 0.2% 139 2,115 135 1,980 6.6% 2020 and beyond 266,750 8.0% 5,765 88,310 5,557 82,753 6.5% Subtotal Uncommitted Earnouts 274,785 8.2% 5,904 90,425 5,692 84,733 6.5%

Total Earnouts 302,252 9.0% 6,493 99,089 9,328 (1) 89,761 6.6%

DEVELOPMENTS Committed Developments 2019 83,307 2.5% 1,567 25,581 (2) 15,099 (2) 10,482 6.1% (3) 2020 and beyond 86,754 2.6% 1,902 31,120 (2) 10,035 (2) 21,085 6.1% (3) Subtotal Committed Developments 170,061 5.1% 3,469 56,701 25,134 31,567 6.1%

Uncommitted Developments 2019 12,871 0.4% 564 8,760 (2) 6,201 (2) 2,559 6.4% (3) 2020 and beyond 2,855,197 85.5% 53,218 891,804 (2) 335,589 (2) 556,215 6.0% (3) Subtotal Uncommitted Developments 2,868,068 85.9% 53,782 900,564 341,790 558,774 6.0%

Total Developments 3,038,129 91.0% 57,251 957,265 366,924 (1) 590,341 6.0%

Total Earnouts and Developments 3,340,381 100.0% 63,744 1,056,354 376,252 680,102 6.0% Non-cash Development Cost (4) 59,230 (1) Land / Parcel Sales 99,914 (1) Equity Accounted Investments 105,447 (1) Total before Mezzanine Financing 3,340,381 100.0% 63,744 1,056,354 640,843 (1) 680,102 6.0% Options through Mezzanine Financing 614,711 Total Potential Pipeline 3,955,092

(1) Under “Properties Under Development” in the MD&A for the three and six months ended June 30, 2019, Earnouts of $48,459, Developments of $486,937 and Equity Accounted Investments of $105,447 comprise the total amount of $640,843. The amounts in the chart above have been adjusted for Earnouts that are expected to be completed after the expiry of the Earnout options being reclassified as Developments. (2) Includes fair value adjustment for land. (3) On a cost basis, the yield would be 5.9%, 5.7%, 6.5%, and 5.2%, respectively. (4) Represents net liability currently recorded.

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 23 MAJOR MIXED-USE REAL ESTATE INITIATIVES

Estimated Costs ($M) Estimated Gain on Final Sale and Timing

GLA SRU 100% Site Project Type ('000sf) / Completion % Share Share SRU Share Yield Profit % SRU Share Timing Units Year

1. VMC (Office Towers) a. KPMG (T#1) Office 360sf 2016 50% $180 $90.0 5.7% — — — b. PwC-YMCA (T#2) Office 105sf 2019 50% $65 $32.5 4.5%-5.5% — — — c. Office (T#3) Office 600sf 2024 50% $375 $187.5 4.8%-5.5% — — — d. Office (T#4) Office 300sf 2026 50% $210 $105.0 4.8%-5.5% — — —

(1) 2. Montreal Premium Outlets Phase II (JV) Retail 140sf 2022-2023 50% $56 $28.0 9%-10% — — — (Simon Property Group)

3. New Premium Outlets Premium (JV) Retail 360sf 2022 50% $136 $68.0 8.0%-8.5% — — — (Simon Property Group)

(2) 4. Laval Centre Jadco Apartments 338 Units 2020-2022 50% $82 $41.0 5.3%-5.8% — — — (2 Bldgs)

5. VMC (Condos) CentreCourt Transit City 1 551 Units 2020-2021 25% $181 $45.3 N/A 25%-30% 25% 2020-2021 CentreCourt Transit City 2 559 Units 2020-2021 25% $189 $47.3 N/A 25%-30% 25% 2020-2021 CentreCourt Transit City 3 631 Units 2021 25% $190 $47.5 N/A 20%-25% 25% 2021 CentreCourt Transit City 4 498 Units 2023 25% $210 $52.5 N/A 20%-25% 25% 2023 CentreCourt Transit City 5 528 Units 2023 25% $225 $56.3 N/A 20%-25% 25% 2023

(2) 6. VMC (Apartments) VMC Rental Apartments Apartments 451 Units 2023-2024 50% $220 $110.0 4.2%-4.8% — — —

7. Vaughan NW Fieldgate Low/Mid Rise 175 Units 2022-2023 50% $100-$120 $50.0-$60.0 N/A 10%-15% 50% 2022-2023 Residential

(2) 8. Ottawa Laurentian Selection Group Apartments/ 410 Units 2022 50% $150 $75.0 6.0%-7.0% — — — (2 Bldgs) Retirement Residence

(2) 9. Multiple Locations Self-Storage (JV) Self-Storage 500sf built 2019-2025 50% $60M per $30M per 7.0%-8.5% — — — (6 Approved Projects – (SmartStop) (4 to 5 new per year in year in each year in each Toronto (Leaside), Oshawa, facilities each each of of years 1-5 of years 1-5 Brampton (2 projects), year) years 1-5 Vaughan, Toronto (Scarborough))

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 24 MAJOR MIXED-USE REAL ESTATE INITIATIVES

Estimated Costs ($M) Estimated Gain on Final Sale and Timing

GLA SRU 100% Site Project Type ('000sf) / Completion % Share Share SRU Share Yield Profit % SRU Share Timing Units Year

10. StudioCentre (Toronto) SRU-Penguin JV Mixed-Use 150sf 2022-2023 50% $53 $26.5 6.0%-7.0% — — — (Office, Studio, Hotel)

11. Pointe-Claire Rental Apartments Apartments 300 Units 2022-2023 50% $115 $57.5 4.5%-5.0% — — — (2) (Apartments) (2 Bldgs)

12. Pointe-Claire (Condo) Condo Condo 200 Units 2024 50% $55 $27.4 N/A 10%-15% 50% 2024

(2) 13. Multiple Locations Retirement Living Retirement 600sf built 2022-2025 50% $100M per $50M per 6.0%-7.5% — — — (3 Approved Projects – Residences Residences & per year in year per site year per site Vaughan (2 projects), (JV) Seniors each of in each of in each of Oakville) (Revera) Apartments years 1-5 years 1-5 years 1-5 (3 to 5 new facilities each year)

Notes: (1) The Phase II expansion for the Montreal Premium Outlets is included in the future development pipeline as Developments. (2) Stabilization is estimated to be 1 to 3 years after completion. (3) Estimated Transactional FFO Gains on Sale related to parcel sales of land into Joint Ventures estimated at 1%-2% of annual FFO at SmartCentres' ownership share.

In addition to the projects set out in the table above (with the exception of the projects listed in Note 1), SmartCentres' pipeline also includes approximately 3.3 million square feet of future developments as set out in the table shown on the “Future Earnouts and Developments” section. Also in addition to the above, SmartCentres has a further mixed-use development pipeline estimated at 4.5 million square feet in projects that are underway or active. Further, SmartCentres will initiate activities in the short-term to work towards development of a further estimated 12.5 million to 15 million square feet in mixed-use initiatives that will be completed in the longer-term.

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 25 RECOURSE LOANS TO DEVELOPERS

Total Leasable Potential Area Loan Interest Area upon Upon Exercising Project Outstanding Committed Maturity Date Rate Option Completion Purchase Option ($000s) ($000s) (%) (%) (1) (sq. ft.) (sq. ft.) (7)

Salmon Arm, BC (2)(3) 14,965 20,907 April 2020 4.99% — 215,431 —

Innisfil, ON (2)(4) 21,036 27,077 December 2020 6.75% — 139,744 —

Aurora (South), ON 16,594 30,543 March 2022 4.87% 50% 193,000 — Mirabel (Shopping Centre), QC (5) 0 18,262 December 2022 7.50% — — 96,500

Mirabel (Option Lands), QC (6) 0 5,721 December 2022 7.50% — 178,068 —

Pitt Meadows, BC 28,615 68,664 November 2023 5.29% 50% 75,000 —

Vaughan (7 & 427), ON 17,350 53,127 December 2023 6.08% 50% 302,029 37,500

Caledon (Mayfield), ON 9,690 14,033 April 2024 5.14% 50% 203,730 101,865

Toronto (StudioCentre), ON (2) 27,944 43,759 June 2024 5.11% 25% 911,322 227,831

Total 136,194 282,093 5.48%(7) 2,218,324 614,711

(1) The Trust has a purchase option from the borrower in these properties upon a certain level of development and leasing being achieved. As at June 30, 2019, it is management’s expectation that the Trust will exercise these purchase options. (2) The Trust owns a 50% interest in these properties, with the other 50% interest owned by Penguin. These loans are secured against Penguin’s interest in the property. (3) Monthly variable rate based on a fixed rate of 6.35% on loans outstanding up to $7,237 and the banker's acceptance rate plus 1.75% on any additional loans above $7,237. In July 2019, the loan was amended to reflect a maturity date of April 2020. (4) In August 2018, the interest rate on this mortgage reset to the four-year Government of Canada bond rate plus 4.0%, subject to a lower limit of 6.75% and an upper limit of 7.75%. Prior to August 2018, the interest rate was based on the banker's acceptance rate plus 2.0%. (5) The Trust owns a 33.3% interest in this property. The loan is secured against a 33.3% interest owned by Penguin, as well as a guarantee by Penguin. (6) The Trust owns a 25% interest in this property. The loan is secured against a 25% interest owned by Penguin, as well as a guarantee by Penguin. (7) Represents the weighted average interest rate.

Note: Of the $146.0 million of remaining loan advances available, $69.2 million is expected to be applied as interest on outstanding balances, and the remaining $76.9 is expected to be used to fund development and related costs.

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 26 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

Chilliwack Mall Chilliwack, BC 100.0 124,865 46,544 - Safeway, Winners, Sport Chek

Walmart Supercentre, Winners, Courtenay SmartCentre Courtenay, BC 96.0 273,289 135,899 - Staples, Best Buy, Sport Chek, Mark's, Reitmans Walmart Supercentre, Real Canadian Superstore*, Home Cranbrook SmartCentre Cranbrook, BC 100.0 164,025 107,158 185,556 Hardware*, Sport Chek, Dollar Tree Walmart Supercentre*, Canadian Cowichan Commons East Duncan, BC 98.1 238,442 188,680 172,609 Tire, Home Depot, Best Buy, Bulk Barn Walmart Supercentre, Michaels, Kamloops SmartCentre Kamloops, BC 95.3 232,800 143,619 - Lordco Auto Parts, Pier 1 Imports, Sleep Country Walmart Supercentre, Home Langley SmartCentre Langley, BC 98.6 351,225 255,527 172,161 Depot*, Save-on-Foods*, London Drugs, Home Outfitters, Best Buy Walmart Supercentre, Thrifty Maple Ridge SmartCentre Maple Ridge, BC 93.6 216,758 146,521 - Foods, Westminster Savings Credit Union, Dollar Tree Walmart Supercentre, Old Navy, New Westminster New Westminster, BC 90.3 387,726 159,449 - Tommy Hilfiger, The Gap, Carter's SmartCentre OshKosh Walmart Supercentre*, Sport Peachtree Square Penticton, BC 95.0 54,915 - 175,000 Chek, Dollar Tree, Valley First Credit Union, Bulk Barn Real Canadian Superstore, Penticton Power Centre Penticton, BC 98.6 202,417 110,795 - Staples, Winners, PetSmart, Sleep Country, TD Canada Trust Walmart Supercentre, Home Prince George Prince George, BC 96.3 313,390 165,350 204,247 Depot*, Canadian Tire*, Michaels, SmartCentre Old Navy, Mark's, Petland

Walmart Supercentre, Winners, Salmon Arm SmartCentre** Salmon Arm, BC 100.0 67,324 48,345 - Dollarama, Bulk Barn

Walmart Supercentre, Dollar Tree, Surrey West SmartCentre Surrey, BC 98.6 190,477 133,943 - Ardene, Sleep Country, Reitmans, Carter's OshKosh Walmart Supercentre, RONA*, Vernon SmartCentre Vernon, BC 99.5 242,953 144,782 50,300 Best Buy, Value Village, Mark's, Petland, Sleep Country

Subtotal British Columbia 96.6 3,060,606 1,786,612 959,873

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 27 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.)

ALBERTA

Walmart Supercentre, London Calgary Southeast Calgary, AB 99.0 246,085 199,758 - Drugs, Mark's, Reitmans, Carter's SmartCentre OshKosh, Bulk Barn Walmart Supercentre, Safeway, Edmonton East Edmonton, AB 95.6 180,100 94,835 - Winners, Fit4Less, Petland, SmartCentre** Dollarama Walmart Supercentre, Your Dollar Edmonton Northeast Edmonton, AB 94.7 274,353 161,925 - Store With More, Michaels, Bulk SmartCentre Barn, Moores, Penningtons

Lethbridge II SmartCentre Lethbridge, AB 100.0 53,392 40,373 - Sobeys

Walmart Supercentre, Home Lethbridge SmartCentre Lethbridge, AB 97.7 326,855 194,564 95,000 Depot*, Best Buy, Ashley Furniture, Mark's, Gap Outlet Walmart Supercentre, Save-on- St. Albert SmartCentre St. Albert, AB 97.8 251,329 197,101 91,737 Foods*, RONA*, Dollarama, Canadian Western Bank

Walmart Supercentre, Canadian Sylvan Lake SmartCentre Sylvan Lake, AB 100.0 131,983 115,829 68,947 Tire*, Dollarama

Subtotal Alberta 97.4 1,464,097 1,004,385 255,684

SASKATCHEWAN

Loblaws, GoodLife Fitness, Golden Mile Shopping Regina, SK 93.4 259,293 93,938 - Rainbow Cinemas, Dollarama, Centre Bison Liquor, RBC Walmart Supercentre, Regina East SmartCentre HomeSense, London Drugs, Best Regina, SK 97.7 389,556 249,523 - (I) Buy, Marshalls, Michaels, Pier 1 Imports RONA, Real Canadian Regina East SmartCentre Regina, SK 96.8 198,134 107,608 130,000 Superstore*, Planet Fitness, (II) PetSmart, Old Navy, Petland Walmart Supercentre, IGA, Regina North SmartCentre Regina, SK 99.4 276,251 206,339 - Mark's, Dollarama, TD Canada Trust, Reitmans, Bulk Barn Walmart Supercentre, Home Saskatoon South Saskatoon, SK 100.0 380,642 194,210 109,084 Depot*, HomeSense, The Brick, SmartCentre Ashley Furniture, Golf Town

Subtotal Saskatchewan 97.7 1,503,876 851,618 239,084

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 28 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.)

MANITOBA

RONA, Costco*, Indigo Books, Kenaston Common Winnipeg, MB 100.0 257,222 98,570 143,613 Golf Town, Petland, Nygard, SmartCentre CIBC, HSBC, RBC Walmart Supercentre, Home Winnipeg Southwest Depot*, Safeway, Home Winnipeg, MB 95.6 487,519 281,606 95,000 SmartCentre Outfitters, HomeSense, Urban Planet Walmart Supercentre, Canadian Winnipeg West Winnipeg, MB 98.6 354,679 171,146 75,240 Tire*, Sobeys, Winners, Value SmartCentre Village, Sport Chek, Staples

Subtotal Manitoba 97.6 1,099,420 551,322 313,853

ONTARIO

Walmart Supercentre, Dollarama, Alliston SmartCentre Alliston, ON 100.0 170,770 151,709 - Tim Hortons

Walmart Supercentre, Canadian Ancaster SmartCentre Ancaster, ON 97.5 264,783 163,794 74,018 Tire*, Winners, GoodLife Fitness, Bouclair, Dollar Tree Walmart Supercentre, Reno Aurora North Depot, Best Buy, Golf Town, Aurora, ON 97.4 509,325 313,637 - SmartCentre(2) LCBO, Dollarama, RBC, TD Canada Trust

Winners, Healthy Planet, Bank of Aurora SmartCentre Aurora, ON 100.0 51,186 - - Nova Scotia

Food Basics, Pharma Plus, Barrie Essa Road Barrie, ON 94.7 104,869 35,152 - Dollarama, Anytime Fitness, Pet Shopping Centre(2) Valu, Tim Hortons

Walmart Supercentre, Loblaws*, Barrie North SmartCentre Barrie, ON 97.1 234,701 160,727 81,373 Old Navy, Carter's OshKosh, Addition-Elle, Reitmans Walmart Supercentre, Sobeys, Barrie South Winners, La-Z-Boy, Indigo Books, Barrie, ON 100.0 413,784 243,629 - SmartCentre(2) PetSmart, Urban Planet, Dollar Tree

Walmart Supercentre, LCBO, Bolton SmartCentre Bolton, ON 97.9 242,444 161,864 - Mark's, The Beer Store, Reitmans

Walmart Supercentre, Home Bracebridge SmartCentre Bracebridge, ON 100.0 142,501 115,779 90,000 Depot*, Dollar Tree, Boston Pizza, Bulk Barn

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 29 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, GoodLife Bradford SmartCentre Bradford, ON 100.0 279,248 168,571 - Fitness, Marshalls, Dollarama, Bulk Barn, CIBC, RBC

LA Fitness, Value Village, LCBO, Bramport SmartCentre Brampton, ON 100.0 163,450 45,877 37,082 Dollarama, Swiss Chalet, CIBC, Bank of Montreal

Bramport SmartCentre (II) Brampton, ON 100.0 37,857 37,857 - No Frills

Walmart Supercentre, The Brick, Brampton, ON 100.0 360,695 243,610 - Winners, Staples, Mark's, Dollar SmartCentre Tree, Carter's OshKosh

Brampton North Fortinos*, Shoppers Drug Mart, Brampton, ON 97.7 58,996 - 62,496 SmartCentre RBC

Walmart Supercentre, GoodLife Brampton Northeast Brampton, ON 100.0 245,165 153,455 - Fitness, LCBO, Dollarama, CIBC, SmartCentre Bank of Nova Scotia, RBC

Giant Tiger, GoodLife Fitness, Kingspoint Shopping Brampton, ON 96.7 184,186 78,307 - Shoppers Drug Mart, The Beer Centre Store

Walmart Supercentre*, Real Brockville SmartCentre Brockville, ON 96.2 144,084 - 322,054 Canadian Superstore*, Home Depot*, Winners, Michaels, LCBO

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 98.6 226,451 161,127 - Reitmans, Moores, Bank of Nova SmartCentre Scotia

Walmart Supercentre, RONA, LA Cambridge SmartCentre Cambridge, ON 95.6 732,882 323,394 - Fitness, Best Buy, Staples, Bed (I)(2) Bath & Beyond, Michaels

Cambridge SmartCentre Canadian Tire*, Home Depot*, Cambridge, ON 83.0 29,809 - 224,695 (II) Allstate Insurance

Carleton Place Walmart Supercentre, Dollarama, Carleton Place, ON 100.0 148,821 115,811 - SmartCentre Mark's, Bulk Barn

Walmart Supercentre, Real Canadian Superstore*, Winners, Chatham SmartCentre** Chatham, ON 98.4 154,545 101,053 91,275 Mark's, PetSmart, Dollarama, LCBO Walmart Supercentre, Home Cobourg SmartCentre Cobourg, ON 99.0 197,928 142,634 85,433 Depot*, Winners, Dollar Tree, Swiss Chalet

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 30 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, Dollar Tree, Cornwall SmartCentre Cornwall, ON 100.0 171,176 154,510 - Bank of Montreal

Sail, Marshalls, PetSmart, Party (Index) Etobicoke, ON 96.8 188,059 107,838 - Packagers, Structube, Bouclair, SmartCentre Penningtons

Walmart Supercentre, Home Etobicoke SmartCentre(2) Etobicoke, ON 95.8 305,096 199,824 135,000 Depot*, Best Buy, Winners, Old Navy, Mark's, Urban Barn

Walmart Supercentre*, Dollarama, Rexdale SmartCentre Etobicoke, ON 92.7 35,174 - 126,083 Bank of Nova Scotia

Fergus SmartCentre Fergus, ON 100.0 109,652 95,035 - Walmart Supercentre, LCBO

Walmart Supercentre*, No Frills*, Fort Erie SmartCentre Fort Erie, ON 100.0 12,738 - 140,142 LCBO, Bank of Nova Scotia

Walmart Supercentre, Home Guelph SmartCentre Guelph, ON 98.3 296,116 171,396 110,000 Depot*, HomeSense, Michaels, Dollarama, CIBC, RBC

Saks Fifth Avenue OFF 5TH, Polo Toronto Premium Outlets** Halton Hills, ON 97.8 250,371 - - Ralph Lauren, Restoration Hardware, Nike, Columbia, Coach

Walmart Supercentre, Shoppers Hamilton South Hamilton, ON 99.4 241,880 124,524 - 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, Reitmans

Walmart Supercentre, Dollarama, Kanata SmartCentre Kanata, ON 99.2 201,548 155,739 - Bulk Barn, CIBC, RBC

Laurentian Power Centre Kitchener, ON 100.0 35,200 - 220,978 RONA*, Zehrs*, Staples, CIBC

Walmart Supercentre, Toys R Us, London East Argyle Mall(2) London, ON 99.4 424,990 224,281 - No Frills, Winners, Staples, Sport Chek, GoodLife Fitness

Walmart Supercentre, Canadian London North London, ON 98.6 250,149 131,671 108,262 Tire*, Marshalls, Winners, Sport SmartCentre** Chek, HomeSense, Old Navy

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 31 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.)

Lowe's*, Boston Pizza, Bank of London Northwest London, ON 100.0 36,214 - 137,316 Montreal, Montana's, Kelsey's, SmartCentre RBC

Markham East Walmart Supercentre, Dollar Tree, Markham, ON 100.0 69,008 61,207 - SmartCentre** CIBC

Home Depot, Longo's*, Winners, Markham Woodside Markham, ON 100.0 179,950 80,385 - Staples, Chapters, Michaels, La- SmartCentre** Z-Boy, LCBO

Walmart Supercentre*, Canadian Milton Walmart Centre** Milton, ON 96.3 116,716 - 227,896 Tire*, Sport Chek, Indigo Books, Michaels, Mark's, Staples, RBC

Burnhamthorpe Government, Swiss Chalet, , ON 87.4 200,335 - - SmartCentre Remax

Walmart Supercentre, Costco, LCBO, Dollarama, The Beer Creekside Crossing** Mississauga, ON 100.0 121,648 91,385 - Store, CIBC, TD Canada Trust, RBC Walmart Supercentre, No Frills, Mississauga (Erin Mills) Mississauga, ON 95.9 290,562 171,973 - GoodLife Fitness, Shoppers Drug SmartCentre(2) Mart, Dollarama

Real Canadian Superstore*, Toys Mississauga (Go Lands) Mississauga, ON 100.0 118,120 50,696 115,000 R Us, Marshalls, Dollarama, TD SmartCentre Canada Trust

Walmart Supercentre, RONA, Mississauga (Meadowvale) Mississauga, ON 98.3 557,845 319,275 - Winners, Staples, Michaels, SmartCentre(2) Mark's, PetSmart, LCBO

Walmart Supercentre, PetSmart, Niagara Falls SmartCentre Niagara Falls, ON 99.0 249,745 183,698 - Penningtons, Dollarama, LCBO, Sleep Country, Bulk Barn

Real Canadian Superstore*, 401 & Weston Power North York, ON 100.0 106,617 58,071 180,000 Canadian Tire, The Brick, Best Centre** Buy, LCBO, Mark's, Dollar Tree

Walmart Supercentre, Real Oakville SmartCentre(2) Oakville, ON 98.2 461,226 314,588 - Canadian Superstore, LCBO, The Beer Store, The Keg, CIBC, RBC

Metro, Winners, Shoppers Drug South Oakville Centre Oakville, ON 99.9 169,928 41,289 - Mart, LCBO, The Beer Store, CIBC, TD Canada Trust

Walmart Supercentre, Winners, Orillia SmartCentre Orillia, ON 100.0 241,659 165,902 - Staples, Michaels, Dollarama

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 32 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, Canadian Orleans SmartCentre (I) Orleans, ON 94.0 384,015 232,635 117,136 Tire*, Home Outfitters, Best Buy, Shoppers Drug Mart

Orleans SmartCentre (II)** Orleans, ON 100.0 38,435 - - Indigo Books, Marshalls

Walmart Supercentre, Real Oshawa North Canadian Superstore, Home Oshawa, ON 96.0 582,367 341,007 116,348 SmartCentre(2) Depot*, Marshalls, Sport Chek, Best Buy, Michaels

Home Outfitters, Winners, Oshawa North Oshawa, ON 98.2 163,259 34,109 - PetSmart, Party Packagers, SmartCentre (II) Boston Pizza, TD Canada Trust

Ottawa (Laurentian Place) Walmart Supercentre, Stantec, Ottawa, ON 100.0 128,939 112,391 - SmartCentre** CIBC

Walmart Supercentre, Loblaws, Ottawa, ON 97.5 252,003 156,471 - Cineplex Odeon, Marshalls, SmartCentre** Winners, Chapters

Walmart Supercentre, Home Owen Sound SmartCentre Owen Sound, ON 100.0 163,101 105,963 130,000 Depot*, Penningtons, Dollarama, Carter's OshKosh, Reitmans

Walmart Supercentre, Lowe's, Pickering SmartCentre(2) Pickering, ON 92.9 516,068 363,446 82,000 Sobeys, Canadian Tire*, Toys R Us, PetSmart, LCBO

Port Elgin SmartCentre Port Elgin, ON 100.0 115,524 115,524 - Walmart Supercentre

Walmart Supercentre, LCBO, Port Perry SmartCentre Port Perry, ON 100.0 138,789 92,473 - Dollarama, Mark's, Bulk Barn, Bank of Nova Scotia

Walmart Supercentre, Food Richmond Hill Richmond Hill, ON 99.1 136,306 94,458 - Basics, Shoppers Drug Mart, SmartCentre** HSBC, Bank of Montreal

Walmart Supercentre, Rona*, Rockland SmartCentre Rockland, ON 99.0 147,592 115,890 24,253 Dollarama, LCBO, Boston Pizza

Walmart Supercentre, Winners, Sarnia SmartCentre Sarnia, ON 100.0 342,617 214,513 - Michaels, PetSmart, LCBO, Dollarama, Penningtons

Walmart Supercentre, Winners, Scarborough (1900 Scarborough, ON 97.2 380,090 254,693 - Mark's, LCBO, David's Bridal, Eglinton) SmartCentre(2) Bank of Montreal

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 33 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, Cineplex Scarborough, ON 96.7 282,156 225,385 - Odeon, LCBO, Reitmans, Boston SmartCentre Pizza, Sleep Country

Walmart Supercentre, LCBO, Simcoe SmartCentre Simcoe, ON 100.0 135,930 111,294 - Dollar Tree

Food Basics, Provincial Hartzel Plaza St. Catharines, ON 100.0 67,972 34,522 - Government

Walmart Supercentre, Canadian Lincoln Value Centre St. Catharines, ON 98.9 307,877 214,891 - Tire, No Frills, Dollarama

Walmart Supercentre, Real St. Catharines West St. Catharines, ON 100.0 370,112 230,513 182,132 Canadian Superstore*, Canadian SmartCentre (I) Tire*, Home Outfitters, Best Buy

St. Catharines West The Brick, Michaels, Shoppers St. Catharines, ON 100.0 120,438 35,108 - SmartCentre (II) Drug Mart, Golf Town, Bouclair

Walmart Supercentre, Real St. Thomas SmartCentre St. Thomas, ON 100.0 224,390 146,755 196,212 Canadian Superstore*, Canadian Tire*, Staples, Dollar Tree

Food Basics, JYSK, King's Buffet, Centennial Parkway Plaza Stoney Creek, ON 100.0 102,677 39,271 - Salvation Army Thrift Store

Walmart Supercentre, Toys R Us, Stoney Creek SmartCentre Stoney Creek, ON 100.0 257,064 228,795 - Dollar Tree

Walmart Supercentre*, Canadian Stouffville SmartCentre Stouffville, ON 100.0 162,968 69,283 162,633 Tire, Winners, Staples, Dollarama, Bouclair, Bulk Barn

Sudbury South Walmart Supercentre, LCBO, Sudbury, ON 100.0 233,046 184,910 - SmartCentre Mark's, Dollarama, Bouclair

Toronto Stockyards Walmart Supercentre*, Bank of Toronto, ON 100.0 8,615 - 128,194 SmartCentre(2) Montreal, Fairstone Financial

Canadian Tire, FreshCo, Dollar Westside Mall Toronto, ON 96.2 144,405 110,019 - Tree, Rogers, CIBC

No Frills, City of Toronto, Planet Yorkgate Shopping Centre Toronto, ON 96.7 214,849 75,055 - Fitness, Seneca College, Dollarama

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 34 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.)

Rutherford Village Sobeys, TD Canada Trust, Vaughan, ON 96.7 104,302 48,890 - Shopping Centre Rogers, Tim Hortons

Sail, The Brick, Home Depot*, Vaughan (400 & 7) Vaughan, ON 100.0 216,342 124,989 100,000 Value Village, GoodLife Fitness, SmartCentre Fabricland

Vaughan Northwest Vaughan, ON 99.0 181,960 128,791 - Walmart Supercentre, CIBC SmartCentre

Walmart Supercentre, Value Waterloo SmartCentre Waterloo, ON 100.0 181,623 128,005 - Village, Mark's, Dollarama

Walmart Supercentre, Canadian Welland SmartCentre Welland, ON 100.0 240,663 221,327 100,667 Tire*, RONA, Mark's, Dollar Tree

Walmart Supercentre, Real Whitby North SmartCentre Whitby, ON 99.1 279,153 178,841 148,571 Canadian Superstore*, Mark's, LCBO, Bank of Nova Scotia

Whitby Northeast Boston Pizza, Swiss Chalet, RBC, Whitby, ON 100.0 39,249 - - SmartCentre Popeyes

Metro, LCBO, Bank of Nova Whitby Shores Shopping Whitby, ON 100.0 85,602 39,919 - Scotia, Lovell Drugs, Pet Valu, Centre Tim Hortons

Walmart Supercentre, Part Windsor South Windsor, ON 98.1 231,787 129,121 - Source, Dollarama, PetSmart, SmartCentre Moores, The Beer Store, CIBC

Canadian Tire*, Fortinos*, Woodbridge SmartCentre** Woodbridge, ON 94.3 216,976 32,630 142,073 Winners, Best Buy, Toys R Us, Chapters, Michaels, Sport Chek

Walmart Supercentre, Canadian Woodstock SmartCentre Woodstock, ON 97.1 257,220 170,764 91,254 Tire*, Staples, Mark's, Carter's OshKosh, CIBC, Reitmans

Subtotal Ontario 98.1 18,974,234 11,149,432 4,359,413

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 35 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.)

QUEBEC

Walmart Supercentre, Winners, Blainville SmartCentre Blainville, QC 100.0 206,551 131,537 - Dollarama, Bulk Barn, Bank of Nova Scotia, RBC

Walmart Supercentre, Loblaws*, Hull SmartCentre** Hull, QC 97.5 161,239 80,824 326,717 RONA*, Famous Players*, Super C*, Winners, Staples

Walmart Supercentre, The Brick, Kirkland SmartCentre Kirkland, QC 100.0 186,031 181,086 - Bank of Montreal

Walmart Supercentre, HomeSense, Value Village, Lachenaie SmartCentre** Lachenaie, QC 100.0 143,325 78,432 - Michaels, SAQ, Bouclair, Structube Walmart Supercentre, Canadian Laval East SmartCentre Laval, QC 95.5 558,187 340,736 - Tire, IGA, Winners, Michaels, Sports Experts, Bouclair

Walmart Supercentre, RONA, Laval West SmartCentre Laval, QC 96.6 586,175 280,074 124,000 Canadian Tire*, IGA*, Archambault, Marshalls, Michaels

Mascouche North RONA*, Jean Coutu, Structube, Mascouche, QC 87.1 62,801 - 120,000 SmartCentre SAQ, McDonald's, Bulk Barn

Walmart Supercentre, IGA, Home Mascouche SmartCentre Mascouche, QC 99.4 407,799 261,834 - Outfitters, Winners, Staples, Best Buy, Bouclair, Mark's

The Bay Outlet, Polo Ralph Montreal Premium Mirabel, QC 100.0 183,345 - - Lauren, Old Navy, Nike, Urban Outlets** Planet, Tommy Hilfiger, Coach

Walmart Supercentre, Toys R Us, Montreal (Decarie) Montreal, QC 100.0 132,434 83,858 - Ardene, Baton Rouge, Suzy SmartCentre** Shier, P.F. Chang's, Bulk Barn Walmart Supercentre, IGA, Montreal North Winners, Dollarama, Sleep Montreal, QC 95.9 267,713 173,668 - SmartCentre Country, Bulk Barn, TD Canada Trust Canadian Tire, Super C, Place Bourassa Mall Montreal, QC 94.4 267,912 130,323 - Pharmaprix, L'Aubainerie, Yellow, Urban Depot, Ardene

Walmart Supercentre, Home Pointe Claire SmartCentre Pointe Claire, QC 98.4 372,884 234,402 - Depot, Marks, Dollarama

Walmart Supercentre, Tanguay*, Rimouski SmartCentre Rimouski, QC 98.8 223,696 127,087 104,973 Super C*, Winners, SAQ, Dollarama, Clement, Scores

Walmart Supercentre, Home Saint-Constant Saint-Constant, QC 96.5 361,611 202,613 95,000 Depot*, Super C, L’Aubainerie SmartCentre Concept Mode, Michaels

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 36 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, Maxi*, Saint-Jean SmartCentre Saint-Jean, QC 97.0 249,981 153,988 80,000 Michaels, Mark's, Bouclair, Reitmans, TD Canada Trust Walmart Supercentre*, Home Saint-Jerome SmartCentre Saint-Jerome, QC 100.0 164,001 44,856 246,705 Depot*, IGA, Best Buy, Michaels, Bouclair, Dollarama Walmart Supercentre, Canadian Sherbrooke SmartCentre Sherbrooke, QC 100.0 243,804 196,847 199,588 Tire*, Home Depot*, The Brick, Michaels, Mark's

Valleyfield Plaza Valleyfield, QC 81.3 54,193 - - Mark's, Bouclair, Sleep Country

Walmart Supercentre, Dollarama, Valleyfield SmartCentre Valleyfield, QC 94.6 188,252 133,439 - SAQ, Reitmans, Claire France, Yellow

Walmart Supercentre*, Brunet, Vaudreuil SmartCentre Vaudreuil-Dorion, QC 100.0 16,941 - 159,190 Coco Fruitti

Walmart Supercentre*, Home Victoriaville SmartCentre Victoriaville, QC 100.0 37,784 - 289,519 Depot*, Maxi*, Winners, Carter's OshKosh, Bulk Barn, Reitmans

Subtotal Quebec 97.4 5,076,659 2,835,604 1,745,692

NEW BRUNSWICK

Fredericton North Walmart Supercentre*, Canadian Fredericton, NB 100.0 11,390 - 274,906 SmartCentre Tire*, Kent*, Dollarama

Walmart Supercentre, Kent*, Saint John SmartCentre Saint John, NB 97.6 250,679 128,375 182,122 Canadian Tire*, Winners, Best Buy, Old Navy, Pier 1 Imports

Subtotal New Brunswick 97.7 262,069 128,375 457,028

NOVA SCOTIA Walmart, Atlantic Superstore, Cleve's Source for Sports, Colby Village Plaza Dartmouth, NS 96.4 152,626 108,659 - Pharma Save, Bank of Nova Scotia Atlantic Superstore*, Bed, Bath Halifax Bayers Lake Centre Halifax, NS 97.1 167,940 35,635 80,000 and Beyond, Winners, Cleve's Warehouse Sporting Goods

Subtotal Nova Scotia 96.8 320,566 144,294 80,000

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 37 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.)

PRINCE EDWARD ISLAND

Walmart Supercentre, Home Charlottetown SmartCentre Charlottetown, PE 98.8 225,057 127,159 114,259 Depot*, Toys R Us*, Michaels, Best Buy, Old Navy, Gap Outlet

Subtotal Prince Edward 98.8 225,057 127,159 114,259 Island

NEWFOUNDLAND

Walmart, Canadian Tire*, Corner Brook SmartCentre Corner Brook, NL 100.0 178,988 106,352 136,327 Dominion (Loblaw)*, Staples, Mark's, Buck or Two, Bulk Barn Walmart Supercentre, Dominion (Loblaw)*, Canadian Tire*, Mount Pearl SmartCentre Mount Pearl, NL 99.5 268,534 161,001 174,047 Staples, GoodLife Fitness, Mark's, CIBC

Shoppers Drug Mart, Bulk Barn, Pearlgate Shopping Centre Mount Pearl, NL 100.0 41,490 - - TD Canada Trust

Walmart Supercentre*, Home St. John's Central Depot*, Canadian Tire*, Sobeys, St. John's, NL 100.0 157,773 48,808 311,149 SmartCentre Staples, Mark's, Dollarama, Moores Walmart Supercentre, Dominion St. John's East St. John's, NL 96.9 371,343 128,273 102,818 (Loblaw)*, Winners, Marshalls, SmartCentre Michaels, Sport Chek, Old Navy

Subtotal Newfoundland 98.7 1,018,128 444,434 724,341

Total Retail Properties 97.8 33,004,712 19,023,235 9,249,227

OFFICE PROPERTIES

British Colonial Building Toronto, ON 100.0 16,226 - - Irish Embassy Pubs

Total Office Properties 100.0 16,226 - -

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 38 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.)

MIXED-USE PROPERTIES Walmart Supercentre, KPMG, PwC, GFL, FM Global, Miller Vaughan Metropolitan Thomson LLP, Marc Anthony Vaughan, ON 100.0 294,044 121,673 - Centre Cosmetics, Harley Davidson, BMO Wealth Management, TD Canada Trust Walmart Supercentre, Lowe's, Oshawa South Oshawa, ON 98.8 519,278 430,536 - Sail, CIBC, Dollarama, Moores, SmartCentre RBC Home Depot*, Winners, Sobeys, Leaside SmartCentre East York, ON 98.0 257,954 108,632 113,000 Sport Chek, Best Buy, LCBO, Golf Town, RBC

Laval Centre Laval, QC 100.0 159,779 159,779 130,000 Walmart Supercentre, Leon's*

Total Mixed-Use 99.1 1,231,055 820,620 243,000 Properties

DEVELOPMENT PROPERTIES

Quesnel SmartCentre Quesnel, BC — — — 82,316 Walmart Supercentre*

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

Innisfil SmartCentre** Innisfil, ON — — — — —

StudioCentre** Toronto, ON — — — — —

Jonquiere SmartCentre Jonquiere, QC — — — — —

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

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

Total Development — — — 211,659 Properties

Total Portfolio 97.8 34,251,993 19,843,855 9,703,886

* Non-owned anchor. ** The Trust has a partial ownership interest (the Trust owns a 25% interest in Mirabel SmartCentre (II), a 30% interest in Creekside Crossing, a 33.3% interest in Mirabel SmartCentre (I), a 40% interest in Markham East SmartCentre, a 44.4% interest in 401 & Weston Power Centre, a 49.9% interest in Hull SmartCentre, a 60% interest in Orleans SmartCentre (II), and 50% interests in Chatham SmartCentre, Edmonton East SmartCentre, Innisfil SmartCentre, Lachenaie SmartCentre, London North SmartCentre, Markham Woodside SmartCentre, Milton Walmart Centre, Montreal (Decarie) SmartCentre, Montreal Premium Outlets, Ottawa (Laurentian Place) SmartCentre, Ottawa South SmartCentre, Richmond Hill SmartCentre, Salmon Arm SmartCentre, StudioCentre, Toronto Premium Outlets, Vaughan SmartCentre, and Woodbridge SmartCentre).

(1) Anchors are tenants in excess of 30,000 square feet. (2) Properties that the trust has a leasehold interest in.

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 39 CORPORATE INFORMATION

Stock Exchange Listing: The Toronto Stock Exchange (TSX)

Trading Symbols: Trust Units SRU.UN

Corporate Office: SmartCentres Real Estate Investment Trust 3200 Hwy 7 Vaughan, ON L4K 5Z5 Canada

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

Senior Management: Mitchell Goldhar Executive Chairman Peter Forde President & CEO Peter Sweeney Chief Financial Officer Mauro Pambianchi Chief Development Officer Rudy Gobin EVP Portfolio Management & Investments

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 6200, P.O. Box 50 Toronto, ON M5X 1B8

Davies Ward Phillips & Vineberg LLP 155 Wellington Street West, 40th Floor Toronto, ON M5V 3J7

SMARTCENTRES REAL ESTATE INVESTMENT TRUST JUNE 2019 SUPPLEMENTAL INFORMATION PACKAGE 40