SmartCentres Real Estate Investment Trust (SRU.UN) AGM 2026 summary

Opening remarks and agenda

• Meeting called to order with introductions of trustees and officers, and instructions for in-person and online participation.

• Voting procedures and Q&A protocols outlined for both physical and virtual attendees.

• Management presentation focused on operational highlights, development pipeline, and strategic initiatives for 2026.

Financial performance review

• Portfolio consists of 200 properties, 36 million sq ft of income-producing assets, with 25% of income from Walmart.

• 98.6% committed occupancy, industry high, and assets valued at CAD 12.3 billion.

• Net asset value per unit at CAD 36.19, with units trading at a 21.5% discount and unit price at $28.41 as of May 2026.

• 12.4% compounded return since IPO, outperforming REIT index and market.

Board and executive committee updates

• Trustees and officers introduced, including Lead Independent Trustee and CEO.

• Six trustees elected by unitholders, with two additional appointees from Penguin Group.