TORONTO, May 14, 2021 - RioCan Real Estate Investment Trust (“RioCan”) (TSX: REI.UN) today announced a distribution of 8 cents per unit for the month of May. The distribution will be payable on June 7, 2021 to unitholders of record as at May 31, 2021.

About RioCan
RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at March 31, 2021, our portfolio is comprised of 223 properties with an aggregate net leasable area of approximately 38.0 million square feet (at RioCan's interest) including office, residential rental and 15 development properties. To learn more about us, please visit www.riocan.com.

Information contact:
Kim Lee
Vice President, Investor Relations, RioCan REIT
(416) 646-8326
klee@riocan.com