Slate Retail REIT Announces Automatic Securities Repurchase Plan Pursuant to Its Normal Course Issuer Bid

TORONTO–(BUSINESS WIRE)–Slate Retail REIT (TSX: SRT.U) (TSX: SRT.UN) (the “REIT”) announced
today that in connection with its previously announced normal course
issuer bid (“NCIB”), which commenced on May 26, 2018, the REIT has
entered into an automatic securities repurchase plan with its designated
broker in order to facilitate purchases of Class U Units of the REIT
(“Units”).

The automatic securities repurchase plan allows for purchases by the
REIT of Units at points in time when the REIT would ordinarily not be
permitted to make purchases due to regulatory restrictions or
self-imposed blackout periods. Purchases, if any, will be made by the
REIT’s designated broker based upon the parameters prescribed by the
Toronto Stock Exchange and the terms of the agreement between the REIT
and its designated broker. The automatic securities repurchase plan is
expected to terminate on the close of business on November 2, 2018.

About Slate Retail REIT (TSX: SRT.U / SRT.UN)
Slate Retail
REIT is a real estate investment trust focused on U.S. grocery-anchored
real estate. The REIT owns and operates approximately U.S. $1.5 billion
of assets located across the top 50 U.S. metro markets that are visited
regularly by consumers for their everyday needs. The REIT’s conservative
payout ratio, together with its diversified portfolio and quality tenant
covenants, provides a strong basis to continue to grow unitholder
distributions and the flexibility to capitalize on opportunities that
drive value appreciation. Visit slateretailreit.com
to learn more about the REIT.

About Slate Asset Management L.P.
Slate Asset Management
L.P. is a leading real estate investment platform with $6.0 billion in
assets under management. Slate is a value-oriented manager and a
significant sponsor of all of its private and publicly-traded investment
vehicles, which are tailored to the unique goals and objectives of its
investors. The firm’s careful and selective investment approach creates
long-term value with an emphasis on capital preservation and outsized
returns. Slate is supported by exceptional people, flexible capital and
a proven ability to originate and execute on a wide range of compelling
investment opportunities. Visit slateam.com to
learn more.

Forward‐Looking Statements
Certain information herein
constitutes “forward‐looking information” as defined under Canadian
securities laws which reflect management’s expectations regarding
objectives, plans, goals, strategies, future growth, results of
operations, performance, business prospects and opportunities of the
REIT. The words “plans”, “expects”, “does not expect”, “scheduled”,
“estimates”, “intends”, “anticipates”, “does not anticipate”,
“projects”, “believes”, or variations of such words and phrases or
statements to the effect that certain actions, events or results “may”,
“will”, “could”, “would”, “might”, “occur”, “be achieved”, or “continue”
and similar expressions identify forward‐looking statements. Some of the
specific forward‐looking statements contained herein include the
expected termination date of the automatic securities repurchase plan.,
Such forward‐looking statements are qualified in their entirety by the
inherent risks and uncertainties surrounding future expectations,
including that the transactions contemplated herein are completed.
Forward‐looking statements are necessarily based on a number of
estimates and assumptions that, while considered reasonable by
management as of the date hereof, are inherently subject to significant
business, economic and competitive uncertainties and contingencies. When
relying on forward‐looking statements to make decisions, the REIT
cautions readers not to place undue reliance on these statements, as
forward‐looking statements involve significant risks and uncertainties
and should not be read as guarantees of future performance or results,
and will not necessarily be accurate indications of whether or not the
times at or by which such performance or results will be achieved. A
number of factors could cause actual results to differ, possibly
materially, from the results discussed in the forward‐looking
statements. Additional information about risks and uncertainties is
contained in the filings of the REIT with securities regulators,
including the REIT’s Annual Information Form dated February 16, 2018.

Contacts

Slate Retail REIT
Investor Relations
+1 416 644 4264
ir@slateam.com

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