SmartCentres Real Estate Investment Trst : September 2019 Distribution

SmartCentres Declares Distribution for September 2019

Toronto, Ontario (September 19, 2019) - SmartCentres Real Estate Investment Trust ("SmartCentres") (TSX:SRU.UN) announced today that the trustees of SmartCentres have declared a distribution for the month of September 2019 of CDN $0.15 per trust unit, representing CDN $1.80 per unit on an annualized basis. Payment will be made on October 15, 2019 to unitholders of record on September 30, 2019.

SmartCentres offers Canadian unitholders the option to participate in a Distribution Reinvestment Plan ("DRIP"), a convenient and economical opportunity to automatically reinvest monthly distributions in additional units without the payment of any commissions, service charges or brokerage fees, at a price equal to 97% of the average TSX market price over the 10 business days preceding the monthly distribution date. Additional information regarding the DRIP is available at www.smartcentres.com/investing/distributions/.

About SmartCentres

SmartCentres is one of Canada's largest real estate investment trusts with total assets of approximately $9.7 billion. It owns and manages 34 million square feet in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartCentres is a joint-venture partner in the Premium Outlets locations in Toronto and Montreal with Simon Property Group.

SmartCentres continues to grow its portfolio to include residential (single-family, condominium and rental), retirement homes, office, and self-storage with an additional $12.1 billion ($5.5 billion at SmartCentres' share) in expected developments to commence over the next five years. This growth will occur on its large urban properties such as SmartCentres Place at the Vaughan Metropolitan Centre or as additional intensified uses to its well-located existing shopping centres. For more information, visit www.smartcentres.com.

For more information, please contact:

Peter Sweeney

Chief Financial Officer

SmartCentres

1. 326-6400ext. 7865 [e-mail]