RioCan Real Estate Investment Trust (“RioCan”) (TSX: REI.UN) today announced a distribution of 9 cents per unit for the month of July. The distribution will be payable on August 8, 2023 to unitholders of record as at July 31, 2023.

About RioCan

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at March 31, 2023, our portfolio is comprised of 191 properties with an aggregate net leasable area of approximately 33.5 million square feet (at RioCan's interest) including office, residential rental and 11 development properties. To learn more about us, please visit www.riocan.com.

Kim Lee Vice President, Investor Relations, RioCan REIT (416) 646-8326 klee@riocan.com

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