CT Real Estate Investment Trust : Investor Presentation

RELIABLE.

DURABLE.

GROWING.

Q2 2021 - Debt Investors

DISCLAIMER

Forward - Looking Statements

This presentation contains forward looking information that reflects management's current expectations relating to matters such as future financial performance and operating results of CT Real Estate Investment Trust ("CT REIT" or the "REIT"). Forward-looking statements provide information about management's current beliefs, expectations and plans and allow investors and others to better understand the REIT's anticipated financial position, results of operations, business strategy and financial needs. Readers are cautioned that such information may not be appropriate for other purposes. Certain statements other than statements of historical facts included in this presentation that address activities, events or developments that CT REIT or a third-party expects or anticipates will or may occur in the future, including the REIT's future growth, results of operations, performance, business prospects and opportunities, and the effects of the COVID-19 pandemic on any of the foregoing and assumptions underlying any of the foregoing, is forward-looking information. Often, but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "believe", "estimate", "plan", "can", "could", "should", "would", "outlook", "forecast", "anticipate", "aspire", "foresee", "continue", "ongoing" or the negative of these terms or variations of them or similar terminology. Specific forward-looking statements contained in this presentation include, but are not limited to, statements with respect to: the intention of the REIT to pay stable and growing distributions; the REIT's ability to expand its asset base, make accretive acquisitions, and develop or intensify its properties; the ability of the REIT to execute its growth strategies, including its ability to pursue third party net lease opportunities; the ability of the REIT to participate with CTC in the development or intensification of the Properties; and the ability of the REIT to access available sources of debt and/or equity financing; and the REIT's development activities. Although the REIT believes that the forward-looking information in this presentation reflects management's current beliefs and are based on information currently available to CT REIT and on assumptions CT REIT believes are reasonable about future events and financial trends that management believes may affect the REIT's financial condition, results of operations, business strategy and financial needs, such information is necessarily subject to a number of factors that could cause actual results to differ materially from management's expectations and plans as set forth in such forward-looking statements. Some of the factors, many of which are beyond the REIT's control and the effects of which can be difficult to predict, include but are not limited to: the resilience and state of the real estate market, the Canadian economy including future levels of inflation, as well as the future of government stimulus plans and any potential changes to current tax laws; that Canadian capital markets will provide CT REIT with access to debt at reasonable rates when required and that CTC will continue its involvement with CT REIT on the basis described in its 2020 Annual Information Form (AIF). However, given the continued circumstances surrounding COVID-19, it is difficult to predict how significant the adverse impact of the pandemic will be on the global and domestic economy, the business, operations and financial position of the REIT's tenants, and the business, operations and financial position of the REIT. Additional risks and uncertainties related to COVID-19 are discussed in section 2.0 (Factors Affecting the REIT As A Result of COVID-19 Pandemic) of the REIT's Management's Discussion and Analysis for the quarter ended June 30, 2021 ("2021 Q2 MD&A") and Section 3.7 (Other Recent Developments) of the REIT's 2020 AIF. Management cautions that the foregoing list of important factors and assumptions is not exhaustive and other factors could also adversely affect the REIT's results. Investors and other readers are urged to consider the foregoing risks, uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. For more information on the risks, uncertainties and assumptions that could cause the REIT's actual results to differ from current expectations, refer to section 12.0 (Enterprise Risk Management) of the 2021 Q2 MD&A. Also refer to section 4.0 (Risk Factors) of the REIT's 2020 AIF, and all subsections thereunder, as well as the REIT's other public filings, available on the System for Electronic Document Analysis and Retrieval website at www.sedar.com and on the REIT's website at https://investors.ctreit.com. The forward-looking information contained herein is based on certain factors and assumptions as of the date hereof and does not take into account the effect that transactions or non-recurring or other special items announced or occurring after the statements are made have on the REIT's business. CT REIT does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by it or on its behalf, to reflect new information, future events or otherwise, except as required by applicable securities laws.

Non-GAAP Measures

Certain terms used in this presentation, such as, FFO, AFFO, and EBITFV are not measures defined under IFRS and do not have standardized meanings prescribed by Generally Accepted Accounting Principals ("GAAP"). They are not intended to represent operating profits for the period nor should any of these measures be viewed as an alternative to net income, cash flow from operating activities or other measures of financial performance calculated in accordance with GAAP. Readers should be further cautioned that these measures may not be comparable to similar measures presented by other issuers. Reconciliations of non-GAAP measures to GAAP may be found on pages 36-38 of this presentation.

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EXECUTIVE TEAM

Ken Silver	Lesley Gibson CPA, CA	Highly
CEO	SVP & CFO	experienced
		with in-depth
		market knowledge

Former President, Canadian Tire Real Estate Limited	Former CAO, Choice Properties REIT
Former SVP, Corporate Strategy &	Former EVP Finance, Primaris Retail REIT
Real Estate, CTC

Kevin Salsberg

President & COO

Former EVP and CIO, Plaza Retail REIT

Former COO, KEYreit

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STRATEGIC OVERVIEW

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INVESTMENT HIGHLIGHTS

5-year AFFO/Unit CAGR(1) - 5.0%

5-year NAV/Unit CAGR(1) - 4.6%

5-year Distribution/Unit CAGR(1) - 3.6%

Q2 2021 YTD AFFO Payout Ratio - 73.1%

Since 2013 IPO, invested $2B, added 10M square feet, and increased distribution eight times

S&P and DBRS - BBB investment grade credit rating

4.5% distribution increase effective for the July 2021 distribution payment

(1) Calendar years 2015-2020

Canada's premier Net Lease REIT

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