Granite REIT declares distribution for February 2020

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TORONTO – (COMMERCIAL THREAD) – Granite Real Estate Investment Trust (“Granite”) (TSX: GRT.UN / NYSE: GRP.U) announced today that its Board of Directors has declared a distribution of C $ 0.242 per Stapled Unit for the month of February 2020. The distribution will be paid by Granite on March 16, 2020 to the Stapled Unitholders of record at the close of markets on February 28, 2020. The Stapled Units will begin trading on an ex-dividend basis when trading opens Thursday, February 27, 2020 on the Toronto Stock Exchange and the New York Stock Exchange.

Granite confirms that no portion of the distribution constitutes actual related income for US federal tax purposes. A qualified notice providing the breakdown of distribution sources will be issued to the Depository Trust & Clearing Corporation after the registration date of February 28, 2020, in accordance with Section 1.1446-4 of the United States Treasury Regulations.

ABOUT GRANITE

Granite is a Canadian REIT engaged in the acquisition, development, ownership and management of industrial properties, warehouses and logistics in North America and Europe. Granite owns 90 investment properties representing approximately 40 million square feet of leasable area.

OTHER INFORMATION

Copies of financial data and other public documents relating to Granite are available on the Internet on the Canadian Securities Administrators (SEDAR) electronic document analysis and retrieval system, accessible at www.sedar.com and the United States Securities and Exchange Commission Electronic Data Collection, Analysis, and Retrieval (EDGAR) System, available at www.sec.gov. For more information, please visit our website at www.granitereit.com or contact Teresa Neto, Chief Financial Officer, at 647-925-7560 or Andrea Sanelli, Manager, Legal and Investor Services, at 647-925-7504.


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