On June 25, 2025, Primaris Real Estate Investment Trust ("Primaris") completed a C$200 million private placement of Series H Senior Unsecured Debentures maturing June 25, 2033. Issued at par ($1,000 per $1,000 principal), the Debentures bear a fixed annual interest rate of 4.835%, payable semi-annually on June 25 and December 25 starting December 25, 2025. Inclusive of bond forward hedges, the all-in interest rate stands at approximately 4.924% annually. The offering was conducted on a private placement basis in Canada through a syndicate of agents led by Desjardins Capital Markets, CIBC Capital Markets, and Scotia Capital Inc., and included TD Securities Inc., RBC Dominion Securities Inc., National Bank Financial Inc., BMO Capital Markets, Canaccord Genuity Corp., and Raymond James Ltd.

The Debentures are unsecured, rank equally with other unsecured and unsubordinated indebtedness of the Trust, and carry a provisional DBRS rating of BBB (high). Net proceeds are earmarked for financing eligible green projects aligned with Primaris’ June 2025 Green Finance Framework. Until such allocation, funds may be used to repay short-term debt, credit facilities, or be held in cash or cash equivalents.

McCarthy Tétrault LLP acted as legal advisor to the syndicate of agents.