Slate Grocery REIT Provides Capital Allocation Update in Connection with Ongoing Strategic Review Process

TORONTO — Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”) announced today that the Board of Trustees (the “Board”), upon the recommendation of its independent Special Committee (the “Special Committee”), has approved the suspension of monthly cash distributions to enhance the REIT’s financial and strategic flexibility, pending the outcome of the Special Committee’s previously announced review and evaluation of strategic alternatives.

As previously announced, the Special Committee has a broad mandate to consider and evaluate a range of strategic alternatives available to the REIT. The strategic review remains active and ongoing, and the Special Committee continues to evaluate a broad range of alternatives available to the REIT.

The Board’s decision was not taken in response to a change in the underlying fundamentals or long-term outlook of the REIT’s portfolio. Management’s views regarding the strong underlying fundamentals and long-term prospects of the portfolio remain unchanged.

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The REIT continues to benefit from its portfolio of high-quality grocery-anchored real estate, including an embedded mark-to-market opportunity from below-market in-place rents and continued demand for grocery-anchored space.

There can be no assurance that the Special Committee’s review will result in a transaction, that any transaction will be approved or consummated, or that any other strategic alternative will be pursued.

The REIT does not intend to comment further regarding the Special Committee’s review unless and until the Special Committee or the Board determines that further disclosure is appropriate or required by applicable law.

Slate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates 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 are expected to 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.

Slate Asset Management is a global investor and manager focused on essential real estate and infrastructure assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners across the real assets space. 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, and follow Slate Asset Management on LinkedIn , X (Twitter) , and Instagram .

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.