Dream Industrial REIT Renews At-The-Market Program

Dream Industrial REIT (TSX: DIR.UN) (the “Trust”) announced today that it has renewed its at-the-market equity program (the “ATM Program”) that allows the Trust to issue up to $250,000,000 of units (the “Units”) from treasury to the public from time to time, at its discretion. The Trust intends to use the net proceeds from the ATM Program, if any, for future property acquisitions, development and redevelopment opportunities, repayment of indebtedness and for general trust purposes.

In connection with the renewal of the ATM Program, the Trust has entered into an equity distribution agreement dated November 30, 2021 (the “Equity Distribution Agreement”) with TD Securities Inc. (the “Agent”). Any Units sold in the ATM Program will be distributed through the Toronto Stock Exchange or any other permitted marketplace. The volume and timing of distributions under the ATM Program, if any, will be determined at the Trust’s sole discretion. The ATM Program will be effective until December 26, 2023 unless terminated prior to such date by the Trust or otherwise in accordance with the terms of the Equity Distribution Agreement.

As Units sold in the ATM Program will be distributed at the market prices prevailing at the time of the sale, prices may vary among purchasers during the period of the distribution. Distributions of the Units through the ATM Program will be made pursuant to the terms of the Equity Distribution Agreement. In connection with the renewal of the ATM Program, the Trust has filed a prospectus supplement dated November 30, 2021 (the “Prospectus Supplement”) to the final base shelf prospectus dated November 26, 2021 (the “Shelf Prospectus”). The Prospectus Supplement and the Equity Distribution Agreement are available on SEDAR at www.sedar.com under the Trust’s profile.

This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction in which such offer or solicitation is unlawful. This news release is not an offer of securities for sale in the United States (“U.S.”). The securities being offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and accordingly are not being offered for sale and may not be offered, sold or delivered, directly or indirectly within the U.S., its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to an exemption from the registration requirements of that Act.

About Dream Industrial Real Estate Investment Trust

Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at September 30, 2021, Dream Industrial REIT owns, manages and operates a portfolio of 221 industrial assets (326 buildings) comprising approximately 39.8 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. Dream Industrial REIT’s objective is to continue to grow and upgrade the quality of its portfolio which primarily consists of distribution and urban logistics properties and to provide attractive overall returns to its unitholders. For more information, please visit www.dreamindustrialreit.ca.

Forward looking information

This news release may contain forward-looking information within the meaning of applicable securities legislation. Forward looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events. Some of the specific forward-looking information in this news release may include, among other things, the Trust’s intended use of the net proceeds from the ATM Program. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Trust’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, global and local economic and business conditions; mortgage and interest rates and regulations; the uncertainties around the timing and amount of future financings; uncertainties surrounding the COVID-19 pandemic; the financial condition of tenants; interest and currency rate fluctuations; competition; and the risk that there may be unforeseen events that cause the Trust’s actual capital structure, overall cost of debt and results of operations to differ from what the Trust currently anticipates. Our objectives and forward-looking statements are based on certain assumptions with respect to each of our markets, including that the general economy remains stable, the gradual recovery and growth of the general economy continues over the remainder of 2021 and in 2022, interest rates remain stable, conditions within the real estate market remain consistent, competition for and availability of acquisitions remains consistent with the current climate, the capital markets continue to provide ready access to equity and/or debt, the timing and ability to sell certain properties remains in line with the Trust’s expectations, valuations to be realized on property sales will be in line with current IFRS values, occupancy levels remain stable, and the replacement of expiring tenancies will remain consistent. All forward-looking information in this news release speaks as of the date of this news release. The Trust does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in the Trust’s filings with securities regulators, including its latest annual information form and MD&A. These filings are also available at the Trust’s website at www.dreamindustrialreit.ca.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211130006177/en/