Dream Industrial Real Estate Investment Trust (the “REIT”) has launched an at-the-market equity offering of its units, qualifying the distribution of up to $250,000,000 under a prospectus supplement dated September 29, 2025, together with its short form base shelf prospectus. The REIT has entered into an equity distribution agreement with TD Securities Inc., RBC Dominion Securities Inc., and Scotia Capital Inc. (the “Agents”), enabling the REIT to distribute units through these Agents at prevailing market prices on the Toronto Stock Exchange (TSX) or other Canadian marketplaces.

This new program replaces the REIT’s previous at-the-market equity program established in September 2023. There is no minimum amount required to be raised, allowing the offering to terminate after any amount, including none, is sold. The Agents will receive up to 2.0% commission on gross sales.

Legal counsel for the REIT is Osler, Hoskin & Harcourt LLP, while Torys LLP acts for the Agents. Proceeds from the offering may be used for property acquisitions, development and redevelopment opportunities, debt repayment, or general trust purposes, at the REIT’s discretion. All values are in Canadian dollars. This structure provides Dream Industrial REIT with flexible access to capital as market conditions permit.