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RioCan Real Estate Investment Trust Announces Resignation of Chief Financial Officer

TORONTO, ONTARIO — (Marketwired) — 03/01/17 — RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) today announced the resignation of Cynthia Devine, Chief Financial Officer, to pursue other career opportunities. Ms. Devine has informed the Trust that she has accepted the position of Chief Financial Officer at Maple Leafs Sports & Entertainment.

Ms. Devine will continue in her position at RioCan until the end of this month. RioCan intends to have a successor in place prior to her departure.

Edward Sonshine, Chief Executive Officer of RioCan, commented: “On behalf of RioCan, I would like to thank Cynthia for her contributions during her tenure as CFO during which time the Trust completed the sale of its U.S. properties and accelerated its urban intensification and development initiatives. We wish Cynthia continued success in her new role.”

Cynthia Devine commented: “I am very proud of my affiliation with RioCan and would like to thank the entire RioCan team for the opportunity to have worked with such an impressive management group in continuing to build RioCan and its assets and operations.”

About RioCan

RioCan is Canada–s largest real estate investment trust with a total enterprise value of approximately $14.6 billion as at December 31, 2016. RioCan owns and manages Canada–s largest portfolio of shopping centres with ownership interests in a portfolio of 300 Canadian retail and mixed use properties, including 15 properties under development, containing an aggregate net leasable area of 47 million square feet. For further information, please refer to RioCan–s website at .

RioCan Real Estate Investment Trust
Edward Sonshine, O. Ont., Q.C.
Chief Executive Officer
(416) 866-3018

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