Dream Office REIT Announces Dream Investor Day and Voting Results of Annual and Special Meeting of Unitholders

TORONTO, June 06, 2023--(BUSINESS WIRE)--DREAM OFFICE REAL ESTATE INVESTMENT TRUST (TSX:D.UN) ("Dream Office REIT" or the "REIT") is pleased to announce that on Wednesday, September 6, 2023, Dream Unlimited Corp., Dream Office REIT and Dream Impact Trust are welcoming investors for a joint investor session. The event will be hosted at our head office at 30 Adelaide Street East, Suite 301 at 10:00 am ET. This session will discuss each company’s net asset value, capital allocation strategy and business plan, to provide better insight into how we view and manage the businesses.

At our annual and special meeting of unitholders (the "Meeting") held today, all of the nominees for election as trustees of the REIT (the "Trustees") referred to in its management information circular for the Meeting (the "Circular") were elected. Votes cast on this matter were as follows:

Nominee		Votes For		% Votes For		Votes Withheld		% Votes Withheld
Amar Bhalla		32,877,524		99.36		212,209		0.64
Donald Charter		32,075,626		96.94		1,014,107		3.06
Michael Cooper		30,852,700		93.24		2,237,033		6.76
P. Jane Gavan		29,871,332		90.27		3,218,401		9.73
Dr. Kellie Leitch		32,877,356		99.36		212,377		0.64
Karine MacIndoe		32,877,893		99.36		211,840		0.64
Qi Tang		32,910,105		99.46		179,628		0.54

At the Meeting, PricewaterhouseCoopers LLP was appointed auditor of the REIT and its subsidiaries for the ensuing year, and the Trustees were authorized to fix the remuneration of the auditor.

At the Meeting, a special resolution approving certain amendments to the Declaration of Trust of the REIT intended to provide the Trustees and the REIT’s subsidiaries with greater flexibility, in accordance with market practice, in respect of financing transactions requiring a guarantee of the REIT, to increase quorum requirements and to address other non-substantive clarifying changes, as more particularly set forth in the Circular, was approved by a requisite vote of more than 66^2/3% of the votes cast by the unitholders of the REIT.

At the Meeting, a resolution approving certain amendments to the Declaration of Trust of the REIT to provide that the Trustees may at any time declare an extraordinary distribution of cash, units or property of the REIT in specie, as more particularly set forth in the Circular, was approved by a requisite vote of more than 50% of the votes cast by the unitholders of the REIT.

At the Meeting, a resolution approving certain amendments to the REIT’s deferred unit incentive plan to increase the number of deferred trust units and income deferred trust units of the REIT that may be granted or credited under the plan by a further 500,000 units (or 250,000 units if the proposed Unit Consolidation referred to below is effected), was approved by a requisite vote of more than 50% of the votes cast by the unitholders of the REIT.

At the Meeting, a resolution (the "Consolidation Resolution") authorizing the Trustees to effect a consolidation (the "Unit Consolidation") of (i) (a) the issued and outstanding REIT Units, Series A of the REIT on the basis of one (1) post consolidation unit for every two (2) pre-consolidation units, and (b) the issued and outstanding REIT Units, Series B of the REIT on the basis of one (1) post consolidation unit for every two (2) pre-consolidation units, if applicable, and (ii) the issued and

outstanding Special Trust Units of the REIT on the basis of one (1) post-consolidation unit for every two (2) pre-consolidation units, as more particularly described in the Circular, was approved by a requisite vote of more than 50% of the votes cast by the unitholders of the REIT.

The Consolidation Resolution was required to be approved by more than 50% of the votes cast by the unitholders entitled to vote at the Meeting. Votes cast on this matter were as follows:

	Votes For		% Votes For		Votes Against		% Votes Against
	32,959,744		99.31		228,244		0.69

If the board of Trustees proceeds with the Unit Consolidation, it will take effect on a date to be coordinated with the Toronto Stock Exchange and details will be announced in advance by the REIT. No further action on the part of unitholders is required in order for the board of Trustees to implement the Unit Consolidation.

About Dream Office REIT

Dream Office REIT is an unincorporated, open-ended real estate investment trust. Dream Office REIT is a premier office landlord in downtown Toronto with over 3.5 million square feet owned and managed. We have carefully curated an investment portfolio of high-quality assets in irreplaceable locations in one of the finest office markets in the world. For more information, please visit our website at www.dreamofficereit.ca.

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Contacts

For further information, please contact:

Michael J. Cooper
Chairman and Chief Executive Officer
(416) 365–5145
mcooper@dream.ca

Jay Jiang
Chief Financial Officer
(416) 365-6638
jjiang@dream.ca