Dream Industrial REIT announced that it has priced a private placement of senior unsecured debentures (the "Offering") consisting of an additional issuance of CAD 200 million aggregate principal amount of the 5.383% Senior Unsecured Debentures, Series F maturing on March 22, 2028 (the "Series F Debentures"). The Series F Debentures are being offered on an agency basis by a syndicate of agents led by TD Securities Inc., Scotia Capital Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc. and National Bank Financial Inc.,and including CIBC World Markets Inc. and Desjardins Securities Inc. The Series F Debentures are being offered on a private placement basis in each of the provinces of Canada in reliance upon exemptions from the prospectus requirements under applicable securities legislation. The Series F Debentures will be issued at a price equal to CAD 1,004.51 per CAD 1,000 principal amount, with an effective yield to maturity of 5.259% and bear interest at a rate of 5.383% per annum, and will mature on March 22, 2028.

The Series F Debentures will have the same terms and conditions, and constitute part of the same series, as the CAD 200 million aggregate principal amount of the Series F Debentures issued by the Trust on March 22, 2023, except for their date of issue and price to the public and except they will not initially be fungible with the Series F Debentures issued on March 22, 2023. The Series F Debentures offered hereby will initially have a different CUSIP number from the Series F Debentures issued on March 22, 2023 but on or about May 5, 2024, the Series F Debentures offered hereby will become fungible with, form part of a single series with, and have the same CUSIP number as the Series F Debentures issued on March 22, 2023. Interest is payable on the Series F Debentures on March 22 and September 22 of each year, commencing on March 22, 2024.

The first interest payment on March 22, 2024 will include accrued and unpaid interest for the period from September 22, 2023 to, but excluding, March 22, 2024. The Series F Debentures will be direct senior unsecured obligations of the Trust and will rank equally and ratably with all other unsecured and unsubordinated indebtedness of the Trust, except to the extent prescribed by law. The closing of the Offering is expected to take place on January 4, 2024.