The Board of Trustees (the "Board") of RioCan Real Estate Investment Trust ("RioCan") (TSX: REI.UN) today announced that it has appointed David Schwartz as a Trustee, effective October 30, 2026. Mr. Schwartz will join the Board's Audit Committee.

Mr. Schwartz is an accomplished finance executive with more than 30 years of experience across corporate finance, capital markets, mergers and acquisitions, operations, strategy and the scaling of high-growth technology businesses. He currently serves as Chief Financial Officer of eStruxture, the largest Canadian-owned data centre provider. Previously, Mr. Schwartz served as Chief Financial Officer of Nuvei Corporation, where he led the global finance and legal functions and played a key role in its 2020 initial public offering (“IPO”), which was, at the time, the largest technology IPO in Toronto Stock Exchange history by proceeds raised. Over the course of his career, he has also held senior roles at The Aldo Group, Optimal Payments, BCE Emergis and PricewaterhouseCoopers. Mr. Schwartz holds a Bachelor of Commerce degree in Finance and is a Chartered Professional Accountant (CPA) and Chartered Financial Analyst (CFA).

"On behalf of RioCan’s Board of Trustees, I am pleased to welcome David Schwartz to the Board,” said Ed Sonshine, Chairman of the Board. “David brings extensive financial leadership experience and deep expertise in capital markets, strategic transactions and business growth. His leadership in the digital infrastructure and fintech sectors, including building and scaling technology-driven businesses, will add a valuable perspective to the Board. His track record guiding complex organizations will further strengthen the Board as RioCan advances its strategic priorities and delivers long-term value for our unitholders."

For more information on RioCan's Board, please visit https://www.riocan.com/investors/board-of-trustees.

About RioCan
RioCan meets the everyday shopping needs of Canadians through the ownership, management and development of necessity-based retail properties in densely populated communities. As at June 30, 2026, our portfolio is comprised of 164 properties with an aggregate net leasable area of approximately 31 million square feet (at RioCan's interest). To learn more about us, please visit www.riocan.com.

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