Toronto, March 2 — The Board of Trustees of SmartCentres Real Estate Investment Trust (“SmartCentres”, the “Trust” or the “REIT”) (TSX: SRU.UN) today provided an update regarding certain existing arrangements between the Trust and Mitchell Goldhar, Executive Chairman and CEO of SmartCentres and owner of Penguin Group of Companies (“Penguin”) that were previously extended to February 28, 2026.
In order to provide sufficient time to finalize the arrangements, the parties have agreed to extend the existing agreements with Penguin and Mr. Goldhar to March 16, 2026. The parties are negotiating in good faith and currently anticipate that they will align on mutually acceptable arrangements.
The Independent Committee of the Board, composed entirely of independent trustees, is overseeing the discussions on behalf of the REIT with Penguin and Mr. Goldhar.