INVESTOR DAY 2018 PROPERTY TOUR April 18, 2018
VALUE PROPOSITION AND FOUR STRATEGIC PILLARS REAL VISION, SOLID GROUND CANADA’S MAJOR MARKET PORTFOLIO • High quality, necessity based retail, and increasingly mixed-use major markets portfolio • Diversified, strong national tenant base • Significant upside on rent growth • Base for significant NAV growth – tremendous intrinsic value to be unlocked • Strong executive bench with wealth of experience and proven track record STRONG STRATEGIC UNLOCKING DRIVING ORGANIC BALANCE SHEET ACQUISITIONS GROWTH INTRINSIC VALUE • • Evolving tenant mix Focusing on transit- • • Acquire only the best Low leverage and revenue growth oriented urban • locations in the six Low cost of debt • Improving operating intensification in major • major markets Laddered debt efficiency and cost markets • Opportunities to maturity and mostly • structure Mostly mixed-use with acquire partners’ fixed rate • Redeveloping prime residential rental interests in today’s • Access to multiple assets and/or condo tight market sources of capital • Optimize pads by development • • Highly selective Large • adding additional Strategic alliances to acquisitions of unencumbered GLA mitigate risk and development sites, assets pool • Drive ancillary create steady fee leveraging existing generating 56.7% of revenues stream properties annualized NOI • • Continuous portfolio Robust and growing pruning pipeline of well located sites with substantial zoning approved 2
LEADERSHIP TEAM EXPERIENCE, INTEGRITY AND FORESIGHT • Strong executive bench with a wealth of experience and proven Ed Sonshine Rags Davloor, Qi Tang, track record O.Ont., Q.C. President and COO SVP and CFO Founder and CEO 25 years in Real Estate, 20 years in Operations & Finance • Finance Fully integrated REIT & Real Estate with all disciplines in- house including: o Investments o Leasing o Asset Management o Development & Jonathan Gitlin, John Ballantyne, Jeff Ross, SVP Investments & SVP Asset SVP Leasing & Tenant Construction Residential Managemen t Coordination o Property Management 18 years in Real Estate 24 years in Real Estate 30 years in Real Estate o Finance, Legal and Human Resources • Trusted and respected, with deep industry knowledge and relationships Andrew Duncan Jennifer Suess Danny Kissoon SVP Developments SVP General Counsel SVP Operations 18 years in & Corporate Secretary 32 years in Real Development, 12 years 16 years in Law with a 3 Estate in Real Estate focus on Real Estate
PROPERTY TOUR PROPERTIES INDUSTRY LEADING PRESENCE IN THE TORONTO CORE Property Name 1 RioCan Hall 2 The Well 3 King Portland Centre (Kingly) Shoppes on Queen West 4 5 Bathurst College Centre 6 College Ave. & Manning Ave. (Strada) 7 491 College St. 8 740 Dupont Ave. (Litho.) Yonge Eglinton Centre 9 Northeast Corner Yonge Eglinton 10 (ePlace and eCentral) 11 Sunnybrook Plaza 12 RioCan Leaside 13 Shops on Summerhill 14 Yorkville 4
GREATER TORONTO AREA (GTA) FOCUS TOUR AGENDA NLA SF ‘000s Development Tour on % Leased/ Name RioCan Interest Completion Page Stop Completion Preleased (100%) 1 RioCan Hall 100% TBD TBD 100% 6 50% - Commercial Commercial - 2021 2 The Well 40% - Residential Air Rights 2,938 N/A 7 Building 6 – 2023 50%- Building 6 3 King Portland Centre (Kingly) 50% 425 2018/2019 94% 10 4 Shoppes on Queen West 100% 89 2011 100% 12 5 Bathurst College Centre 100% 139 2019 79% 13 College Ave. & Manning Ave. 6 50% 113 2021 79% 14 (Strada) 7 491 College St. 50% 24 2018 63% 15 8 740 Dupont Ave. (Litho.) 50% 181 2021 13% 16 9 Yonge Eglinton Centre 100% 1,059 2016 (expansion) 99.3% 18 Northeast Corner Yonge 10 50%* 707 2018/2019 31% 19 Eglinton (ePlace and eCentral) 11 Sunnybrook Plaza 50% 316 2023 84.5% (current) 20 12 RioCan Leaside 100% 1,307 TBD 100% 21 13 Shops on Summerhill 75% TBD TBD 100% 22 14 Yorkville 50% ~500 TBD N/A 23 5
UNPARALLELED GTA ASSETS PRIME DOWNTOWN LOCATION RIOCAN HALL TORONTO ON Location: Prime location in the heart of the entertainment district in Toronto’s Downtown corridor Intersection: Richmond St. and John St. NLA: 227,326 sf Ownership: 100% Major Tenants • Cineplex • Michaels • Marshalls • Goodlife Fitness Potential for future intensification considering the prime location in Proposed downtown Toronto Demographics in 5km radius: • Population: 526k • Average household income: $118k+ Proposed 6
UNPARALLELED GTA ASSETS MIXED-USE DEVELOPMENT THE WELL TORONTO, ON Proposed 7
UNPARALLELED GTA ASSETS MIXED-USE DEVELOPMENT THE WELL, TORONTO, ON Location: 7.7 acre site situated at the gateway to downtown Toronto, at Front and Spadina. Transit oriented adjacent to the site of a proposed intercity GO Train stop. Ownership Structure: Commercial: 50% (J.V. with Allied Properties REIT Residential: 40% (J.V. Allied Properties REIT and WNUF2*) Residential Building 6 : 50% (J.V. with Woodbourne ) Property Type: Mixed-use with 500,000 sf retail, 1.1 M sf office and ~1,800 residential units (condo Proposed and rental) at 100% • Demographics 5KM radius: Zoning Status: Zoned • Population: 485k Estimated PUD Costs (RioCan’s interest): • Average household income: $114k+ • Innovative, amenity rich design including a European inspired $675 M, Residential Building 6 - $129 M food hall • Office is targeted LEED platinum Estimated project completion: • Teaming with Enwave for the first low-carbon resilient cooling Commercial - 2021, Residential Building 6 - 2023 and heating option for the property and surrounding community *WNUF2 holds a 20% interest in the residential portion until the sale of air rights to Tridel and Woodbourne upon completion of the 8 underground and podium structures .
UNPARALLELED GTA ASSETS MIXED-USE DEVELOPMENT THE WELL, TORONTO ON Surfacing Value • RioCan and its partners acquired the former Globe and Mail head office and surrounding land for $170 million in 2012 and 2013 • Agreement in place to sell 1.1M sf of air rights to residential developers Tridel and Woodbourne for approximately $180 million upon completion of the underground and podium structures • Upon completion, an estimated 10,000 people will live and work at the property • A comprehensive signage master plan agreement has been approved by the city. Interior and exterior digital signage will generate significant ancillary revenue Proposed Proposed 9
UNPARALLELED GTA ASSETS RESIDENTIAL INTENSIFICATION KING PORTLAND CENTRE, TORONTO, ON Location: A 1.5 acre site in Toronto’s trendy downtown west with direct access to transit Property Type : Mixed-use with office, retail and condominiums Leasing/Sales: 134 condominium units fully sold out ahead of price expectations. New office 256,000 sf (at 100%) 100% leased to Shopify and Indigo: retail all but 7,000 sf leased. Existing 55,000 sf of office space adjacent to the building is 100% leased with substantial rent upside upon project completion Ownership : 50% (JV with Allied Properties REIT) Incremental Commercial NLA : 166,000 sf at RioCan’s Interest Zoning/Status: Zoned Proposed Estimated PUD Costs (at RioCan’s Interest): $82.4 M • Demographics in 5km radius: Estimated Project Completion : 2018/2019 • Population: 823k • Average household income: $115k+ • Office tower is targeted LEED platinum 10
UNPARALLELED GTA ASSETS RESIDENTIAL INTENSIFICATION KING PORTLAND CENTRE (KINGLY) TORONTO, ON Proposed 11
UNPARALLELED GTA ASSETS RESIDENTIAL INTENSIFICATION SHOPPES ON QUEEN TORONTO, ON Location: Prime location in Toronto’s trendy Queen west with direct access to transit Property Type : Mixed-use with three floors of retail and 90 condominium units Leasing: Retail component is 100% occupied. NLA: 89,419 sf Major Tenants – Loblaws, Winners, Bank of Montreal Ownership : 100% Demographics in 5km radius: Proposed NLA : 89,400 sf • Population: 823k • Average household income: $115k+ Completed: 2011 12
UNPARALLELED GTA ASSETS MIXED-USE DEVELOPMENT BATHURST COLLEGE CENTRE, TORONTO Location: A 1.3 acre site situated in the western downtown corridor in Toronto, at Bathurst Street and College Avenue. Directly across street from Toronto General Hospital Ownership Structure: 100% Property Type: 139,000 sf mixed-use office and retail Leasing status : 79% pre-leased Tenants: UHN, Winners, Sobeys, Bank of Nova Scotia Zoning/Status: Zoned Estimated PUD Costs: $107.4 M Estimated project completion: 2019 Proposed Demographics in 5km radius: • Population: 590k • Average household income: $117k+ Proposed 13
UNPARALLELED GTA ASSETS RESIDENTIAL INTENSIFICATION COLLEGE & MANNING (STRADA), TORONTO, ON Location: Prime 0.5 acre site located in Toronto’s “Little Italy” district with direct access to transit Property Type : Mixed-use, office, retail and rental residential Leasing (Commercial Component): 79% Ownership : 50% (JV with Allied Properties REIT) Incremental Commercial NLA : 56,000 sf at RioCan’s Interest (113,000 sf at 100%) Zoning Status: Zoned Estimated PUD Costs (at RioCan’s Interest): $30.6 M Project Start / Anticipated Completion : 2018/ Late 2021 Proposed Demographics in 5km radius: • Population: 594k • Average household income: $117k+ 14
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