SGR.U Slate Grocery REIT

Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), an owner and operator of U.S. grocery-anchored real estate, announced today the closing of its previously announced acquisition (the “Acquisition”) of a US$425 million grocery-anchored real estate portfolio (the “Portfolio”). The Acquisition significantly increases the REIT’s exposure to the rapidly growing Sunbelt Region of the United States with a portfolio of properties comprised of a wide range of high-performing grocers, including Publix, Ahold Delhaize, Albertsons, and Walmart. Following the closing of the Acquisition, the REIT’s portfolio comprises 15.7 million square feet and US$2.4 billion of essential grocery-anchored real estate.

The REIT also announced today the closing of its previously announced investment from Slate North American Essential Real Estate Income Fund L.P. (the “NA Essential Fund”), a vehicle managed by Slate Asset Management (“Slate”), which has resulted in the formation of a strategic joint venture (the “Joint Venture”). The NA Essential Fund completed its initial investment of US$180 million into the REIT’s assets (the “Investment”) through the purchase of partnership interests in two REIT subsidiaries. Proceeds from the Investment were used immediately to fund the Acquisition.

“The closing of this Acquisition and Joint Venture marks an exciting milestone in Slate Grocery REIT’s growth,” said Blair Welch, Chief Executive Officer of Slate Grocery REIT and Founding Partner of Slate. “We have significantly increased the REIT’s exposure to high-quality grocery-anchored real estate in some of the fastest-growing markets in the U.S. and unlocked a new, efficient source of capital through the REIT’s partnership with the NA Essential Fund. With a highly-resilient portfolio, a best-in-class management team, and a well-established structure for growth, we are better positioned today than ever before to deliver value to our unitholders.”

For more information, please refer to the REIT’s website for both the most recent investor presentation as well as a presentation summarizing the Acquisition, available at slategroceryreit.com/investor-presentations. Additional information regarding the Joint Venture, the Investment and related terms can be found on www.sedar.com.

About Slate Grocery REIT (TSX: SGR.U / SGR.UN)Slate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates approximately US$2.4 billion of critical real estate infrastructure across major U.S. metro markets that communities rely upon for their daily needs. The REIT’s resilient grocery-anchored portfolio and strong credit tenants provide unitholders with durable cash flows and the potential for capital appreciation over the longer term. Visit slategroceryreit.com to learn more about the REIT.

About Slate Asset ManagementSlate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.

This announcement by the Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) is not, and should not be construed as, an offer to investors for units in Slate North American Essential Real Estate Income Fund L.P.

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For Further InformationInvestor Relations+1 416 644 4264ir@slateam.com