RioCan Real Estate Investment Trust (REI-UN) AGM 2025 summary

Opening remarks and agenda

• Chairman welcomed attendees to the hybrid meeting, noting the return of in-person participation and the presence of trustees.

• Outlined the agenda: formal business, CEO presentation, and Q&A session.

• Administrative instructions were provided for both in-person and virtual attendees regarding voting and submitting questions.

Financial performance review

• Achieved financial objectives and exceptional operational accomplishments over the past year.

• Delivered consecutive quarters of record-setting occupancy and leasing spreads.

• Maintained a low payout ratio and increased distributions for four consecutive years.

• Portfolio is concentrated in major Canadian markets with strong demographics and high demand for retail space.

• Achieved a committed retail occupancy of 98.7% at the end of 2024, sustaining record highs into 2025.

Board and executive committee updates

• Bonnie Brooks was recognized for her decade of service as she steps down from the Board.

• Board composition remains diverse and well-qualified, with 10 nominees elected for the next term.