SmartCentres Real Estate Investment Trust (SRU.UN) AGM 2026 summary

Opening remarks and agenda

• Meeting called to order with introductions of trustees and officers, and instructions for in-person and online participation.

• Voting procedures and Q&A protocols outlined for both physical and virtual attendees.

• Management presentation focused on operational highlights, development pipeline, and strategic initiatives for 2026.

Financial performance review

• Portfolio consists of 200 properties, 36 million sq ft of income-producing assets, with 25% of income from Walmart.

• 98.6% committed occupancy, 88% of income from VECTOM markets, and assets valued at CAD 12.3 billion.

• Unit price at CAD 28.41, net asset value at CAD 36.19 per unit, representing a 21.5% discount.

• 12.4% compounded return since IPO, outperforming the REIT index and market.

Dividend announcements

• 6.5% annual distribution paid monthly, with a history of never cutting distributions.

• Stable and predictable distributions, resilient through market volatility and the pandemic.