Investor Presentaiton

CONTINUED GROWTH IN RENTAL REVENUE & FFO PER UNIT (AS OF DECEMBER 31, 2018) RENTAL REVENUE (in millions of $) 4.7% CAGR since 2015 790 806 747 728 670 FFO ($ per unit) 1.9% CAGR since 2015 2.28 2.26 2.17 2.20 2.10 2015 2016 2017 2018 2019 2015 2016* 2017 2018 2019 * Excludes $0.06 per unit of non-recurring income SMARTCENTRES REIT | Q2 2019 INVESTOR PRESENTATION 61

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