Slate Retail REIT Announces Distribution for the Month of March 2019

TORONTO–(BUSINESS WIRE)–Slate Retail REIT (TSX: SRT.U) (TSX: SRT.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 March
2019 of U.S.$0.07125 per class U unit of the REIT (“Class U Units”), or
U.S.$0.855 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.$0.07125 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.$0.07125 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.$0.07125 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 April 15, 2019 to unitholders of
record as of the close of business on March 29, 2019.

About Slate Retail REIT (TSX: SRT.U / SRT.UN)
Slate Retail
REIT is a real estate investment trust focused on U.S. grocery-anchored
real estate. The REIT owns and operates approximately U.S. $1.4 billion
of assets located across the top 50 U.S. metro markets that are visited
regularly by consumers for their everyday needs. The REIT’s conservative
payout ratio, together with its diversified portfolio and quality tenant
covenants, provides a strong basis to continue to grow unitholder
distributions and the flexibility to capitalize on opportunities that
drive value appreciation. Visit slateretailreit.com
to learn more about the REIT.

About Slate Asset Management L.P.
Slate Asset Management
L.P. is a leading real estate investment platform with over $6 billion
in assets under management. Slate is a value-oriented manager and a
significant sponsor of all of its private and publicly-traded investment
vehicles, which are tailored to the unique goals and objectives of its
investors. The firm’s careful and selective investment approach creates
long-term value with an emphasis on capital preservation and outsized
returns. Slate is supported by exceptional people, flexible capital and
a proven ability to originate and execute on a wide range of compelling
investment opportunities. Visit slateam.com to
learn more.

Contacts

Investor Relations
+1 416 644 4264
ir@slateam.com