Crombie Real Estate Investment Trust (CRR.UN) investor relations material

Executive summary

• Commercial same-asset cash NOI was $86.513M, up 2.7%; FFO per Unit rose 3.0% to $0.34, while AFFO per Unit was unchanged at $0.30.

• Portfolio comprised 311 properties and 19.435M sq. ft., with $6.6B in fair value across grocery-anchored retail, retail-related industrial and mixed-use residential assets.

Financial highlights

• Q3 property revenue rose 6.2% to $127.586M; net property income increased 7.2% to $85.193M.

• FFO increased 2.9% to $63.891M, or $0.34 per Unit; AFFO was $57.061M, up 3.6%, with AFFO per Unit unchanged at $0.30.

• Operating income attributable to Unitholders fell 8.7% to $28.260M, with a $4.6M non-cash investment-property impairment contributing to the decline.

• Management and development services revenue was $3.1M versus $4.4M; the prior-year quarter included $2.1M of deferred development-management revenue.

• Nine-month property revenue was $380.870M and net property income was $246.681M, up 3.9% and 3.7%, respectively.

Outlook and guidance

• Agreement to acquire 13 Ontario necessity-based retail properties totaling 588,000 sq. ft. for $134.0M, excluding costs; closing scheduled for November 2026, with initial funding from the unsecured revolver.

• Non-major developments target 6%–8% yields on cost; 30 projects had $90.055M estimated total cost and $57.270M cost to complete.

• Six intensification and redevelopment projects represent 118,200 sq. ft. of estimated GLA at completion; no construction commitments across the major development pipeline.

• The 291-unit Marlstone had 40.2% of units committed at Q3 2026; lease-up was underway.