TORONTO–(BUSINESS WIRE)–Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), an owner and operator of U.S. grocery-anchored real estate, announced today that the Board of Trustees has declared a distribution for the month of May 2023 of U.S.$0.072 per class U unit of the REIT (“Class U Units”), or U.S.$0.864 on an annualized basis.

Holders of Class U Units may elect to receive their distribution in Canadian dollars and should contact their broker to make such an election.

Holders of class A units of the REIT (“Class A Units”) will receive a distribution equal to the Canadian dollar equivalent (based on the U.S./Canadian dollar exchange rate at the time of payment of the distribution) of U.S.$0.072 per Class A Unit, unless the unitholder has elected to receive distributions in U.S. dollars. Holders of class I units of the REIT (“Class I Units”) will receive a distribution of U.S.$0.072 per Class I Unit, unless the unitholder has elected to receive distributions in Canadian dollars. Holders of units of subsidiaries of the REIT that are exchangeable into Class U Units (“Exchangeable Units”) will receive a distribution of U.S.$0.072 per unit.

If a holder of Class U Units or Class I Units elects to receive distributions in Canadian dollars, the holder will receive the Canadian dollar equivalent amount of the distribution being paid on the Class U Units or Class I Units, as applicable, based on the U.S./Canadian dollar exchange rate at the time of payment of the distribution.

Distributions on all unit classes of the REIT, and distributions on Exchangeable Units, will be payable on June 15, 2023 to unitholders of record as of the close of business on May 31, 2023.

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 U.S. $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 Management

Slate 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.

Forward-Looking Statements

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. The words “plans”, “expects”, “does not expect”, “scheduled”, “estimates”, “intends”, “anticipates”, “does not anticipate”, “projects”, “believes”, or variations of such words and phrases or statements to the effect that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “occur”, “be achieved”, or “continue” and similar expressions identify forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.

Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of the REIT with securities regulators.

SGR-Dist

Contacts

For Further Information
Investor Relations

+1 416 644 4264

ir@slateam.com

KEY TAKEAWAYS

• Manitoba is Holcim’s second market to use renewable diesel as part of its carbon reduction strategies
• Reduce up to 38.9% CO2 Emission (Scope 3) year-over-year

WINNIPEG, Manitoba–(BUSINESS WIRE)–Lafarge Canada, a leader in sustainable and innovative building solutions, announced today its continued partnership with 4Refuel, a provider of sustainable fuel solutions, to advance its commitment to reducing carbon emissions. Lafarge and 4Refuel will collaborate to implement renewable diesel in Lafarge’s operations in its Manitoba market area.

Renewable diesel is a sustainable alternative to traditional diesel fuel that is made from waste oils and fats and produces lower emissions than conventional diesel.

Lafarge’s adoption of renewable diesel (R50) is in line with its pledge to become a Net-zero corporation by decreasing its carbon footprint and advocating for sustainability. With the utilization of renewable diesel, Lafarge is targeting that its reduction in CO2 emissions (scope 3) will lead to a substantial decrease in greenhouse gas emissions, enhance air quality, and encourage the responsible management of the environment.

“Switching to renewable diesel (R50) is a significant step forward in our sustainability journey,” said Tina Larson, Vice President, Manitoba & Saskatchewan, Lafarge Canada, Western Canada. “We recognize that climate change is one of the most significant challenges facing our planet, and we are committed to doing our part to reduce our impact on the environment. We believe that renewable diesel is an excellent solution to help us achieve our sustainability goals while maintaining the high level of performance that our customers expect.”

The shift to renewable diesel will have no impact on Lafarge’s operations or the quality of its products and services. Renewable diesel is compatible with existing diesel engines and infrastructure, making it an easy and effective way for businesses to reduce their carbon footprint. Lafarge will reduce up to 46 tonnes of CO2 emissions (Scope 3) per year by adopting renewable diesel in Manitoba; this is equivalent to 5,176 gallons of gasoline consumed or 9 homes electricity use for one year.

Lafarge’s transition to renewable diesel began in November 2022 with the Greater Vancouver Area market and it is part of a larger sustainability initiative that includes reducing waste, conserving water, and promoting energy efficiency. The Manitoba market will begin its adoption by making use of the renewable diesel fuel during the warmer months, from May to October.

“We are thrilled to continue our sustainability partnership with Lafarge by expanding our renewable diesel (R50) offering into additional Lafarge markets. Renewable diesel is a turn-key solution to reduce lifecycle-based emissions, and we are committed to serving our customers with low-carbon alternatives,” says Lauren Foulkes, Director of Sustainability, 4Refuel.

Lafarge Canada is proud to be a leader in sustainability and will continue to explore new ways to reduce its environmental impact; it encourages other businesses to join the Net-zero journey and make a commitment towards creating a cleaner and healthier future for all.

About Lafarge Canada Inc.

Lafarge is Canada’s largest provider of sustainable and innovative building solutions including Aggregates, Cement, Ready Mix and Precast Concrete, Asphalt and Paving, and Road and Civil Construction. With over 6,900 employees and 400 sites across the country, Lafarge provides green products to build the infrastructure and communities where Canadians live and work.

As a member of Holcim Group, Lafarge’s purpose is to build progress for people and the planet.

www.lafarge.ca

About 4refuel

4Refuel is North America’s largest mobile onsite refueling and fuel management technology company. Operating for over 25 years, 4Refuel is a trusted partner to sustainable fuel management operations with 24/7/365 reliable, convenient, and safe solutions. 4Refuel is pioneering the energy transition by offering distribution of a full suite of low-carbon liquid and gaseous alternative fuel products. We serve diverse markets, including construction, commercial transport, mining, agriculture, and marine. 4Refuel is a wholly owned subsidiary of Finning International.

4refuel.com

Contacts

Media Contact

Adetutu Opeyemi

External Communications and Marketing Advisor, Eastern Canada

Lafarge Canada Inc.

adetutu.opeyemi@lafarge.com

Virginia MacFabe

Manager, Marketing Programs

4Refuel

virginia.macfabe@4refuel.com