Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.SOT.DB

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[Malpeque2]

Strategy and Objective The REIT’s strategy is to own an institutional quality portfolio of assets in stable and growing office markets in North America and Europe, which are underpinned by government or high-quality credit tenants. The REIT seeks out assets that can be purchased at a significant discount to peak and replacement value while retaining stable operating fundamentals so as to allow the potential for superior risk-adjusted returns. Management believes that approximately two-thirds of office inventory is often overlooked by large institutional investors for various reasons. The REIT’s portfolio of office properties provides diversification and an ability to generate cash flow to provide distributions to Unitholders, while also providing the opportunity to grow net asset value on a per unit basis. Management has developed a robust pipeline of assets that meet the REIT’s investment criteria in North America and Europe and will continue to look to expand into scalable markets where there are strong credit tenants who are large users of office space. While the REIT’s primary goals are to grow net asset value on a per unit basis and provide distributions to Unitholders, the REIT is focused on the following areas to achieve its objectives through 2021 and 2022: • A focus on the REIT’s cost basis, which means buying quality assets at a discount to replacement costs. The REIT and its management have a bias towards assets with strong credit tenants and where rents are below market so the REIT can realize organic growth; • Prudent and proactive capital and asset management to reposition properties, grow rental revenue, extend lease terms and increase occupancy to create value while minimizing property and portfolio vacancy exposure; 7 • Prudent and disciplined management of capital outlays that will maintain and increase the attractiveness of the REIT’s portfolio and achieve increased rents; • Continue to increase the REIT’s financial strength and flexibility through robust balance sheet management; • Maintain a conservative AFFO pay-out ratio taking into account the REIT’s other available opportunities and capital allocation requirements; and • Continue to selectively recycle equity through refinancing or disposing of stabilized assets and redeploying proceeds to new investment opportunities. Overall, management believes the REIT is positioned for long term growth with a portfolio of high credit-quality tenants, a conservative AFFO pay-out ratio, and a robust pipeline of new opportunities that align with the REIT’s strategy and objectives


From the 2021 Annual INfo Form