RioCan Real Estate Investment Trust announced that it is exercising the option to redeem its $300 million, 6.488% Series AI senior unsecured debentures (the Debentures) prior to the maturity date of September 29, 2026. The Debentures will be redeemed in full on October 4, 2024 (the Redemption Date) in accordance with their terms. Pursuant to the terms of the supplemental trust indenture governing the Debentures, the Debentures will be redeemed at a redemption price equal to par, together with accrued and unpaid interest to but excluding the Redemption Date. Accordingly, the Debentures will be redeemed effective on the Redemption Date at a price equal to $1,000 per $1,000 of principal amount of the Debentures plus $0.89 per $1,000 of principal amount for accrued and unpaid interest up to but excluding the Redemption Date. The aggregate redemption amount payable by RioCan on the Redemption Date will be $300,000,000 plus accrued and unpaid interest of $266,630.14.