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aid press release. Contact the distributor for questions.
TORONTO, Nov. 10, 2025 – RioCan Real Estate Investment Trust (TSX:REI.UN) announced that the Toronto Stock Exchange has approved its notice of intention to conduct a normal‑course issuer bid for a portion of its trust units (Units). The bid allows RioCan to acquire up to 29,319,995 Units—about 10 % of the public float of 293,199,954 Units as of Oct. 31, 2025—within the next 12 months.
Purchases will be made through TSX facilities or a Canadian alternative trading system at the prevailing market price. Daily limits cap acquisitions at 155,941 Units (25 % of the last six months’ average daily volume of 623,766 Units), though RioCan may execute a single block purchase per calendar week that exceeds this cap. Units bought under the bid will be cancelled immediately or used to satisfy obligations under the Restricted Equity Unit Plan and/or Performance Equity Unit Plan.
Funding will come from RioCan’s cash reserves and undrawn credit lines. Under the prior bid, which expired on Nov. 11, 2025, RioCan was authorized to buy 29,878,867 Units and had purchased 5,559,193 Units at a weighted average price of $17.99. The new bid will commence on Nov. 12, 2025 and terminate on Nov. 11, 2026, or earlier if all purchases are completed or a termination notice is issued.
RioCan views the repurchase of its Units as a prudent investment opportunity, reflecting current market conditions, Unit price, and other factors. An Automatic Securities Purchase Plan (ASPP) has been adopted to enable repurchases during periods normally restricted by regulation or internal blackout rules. The ASPP, pre‑cleared by the TSX, will be executed by a designated broker under TSX rules, securities laws, and the ASPP terms, and all ASPP purchases count toward the bid total.
Units may also be bought outside of blackout periods in accordance with TSX rules and applicable securities laws.
