RioCan Real Estate Investment Trust · 1 Second Quarter Ended June 30, 2007 Supplemental Information Package Real Estate Portfolio Fact Sheet At June 30, 2007 Total Area (sq. ft.):

RioCan Real Estate Investment Trust

Second Quarter 2007 Supplemental

Information Package

GROWING IN THE MAJOR MARKETS

1 Second Quarter Ended June 30, 2007 Supplemental Information Package

Real Estate Portfolio Fact SheetAt June 30, 2007

Total Area (sq. ft.): Retail Office Total

Income Producing Properties 29,322,103 1,586,241 30,908,344Properties Under Development 2,407,291 2,407,291

Total 33,315,635

Number of Tenancies 5,225Retail Occupancy 97.7%Office Occupancy 96.8%

Total Occupancy 97.7%

Geographic DiversificationNumber of properties

Percentage of annualized Income producing Properties underrental revenue properties development Total

Ontario 63.6% 125 9 134Quebec 15.8% 30 30Alberta 9.9% 18 18British Columbia 6.3% 13 13New Brunswick 2.3% 6 1 7Saskatchewan 0.7% 2 2Manitoba 0.6% 1 1Prince Edward Island 0.5% 1 1Newfoundland 0.3% 1 1

100.0% 197 10 207

Anchor and National TenantsPercentage of annualized Percentage

rental revenue of area

82.6% 83.1%

Top Ten Sources of Revenue by TenantPercentage of annualized Weighted average

Tenant rental revenue remaining lease term (yrs)

1. Metro/A&P/Dominion/Super C/Loeb/Food Basics 5.7% 9.82. Famous Players/Cineplex/Galaxy Cinemas 5.7% 15.43. Zellers/The Bay/Home Outfitters 3.9% 9.14. Wal-Mart 3.8% 10.95. Loblaws/No Frills/Fortinos/Zehrs/Maxi 3.8% 7.36. Canadian Tire/PartSource/Mark’s Work Wearhouse 3.3% 12.87. Winners/HomeSense 3.3% 6.28. Staples/Business Depot 2.5% 8.89. Reitmans/Penningtons/Smart Set/Addition-Elle/Thyme Maternity 1.9% 4.9

10. Shoppers Drug Mart 1.6% 9.2

Total 35.5%

Lease Expiries (sq.ft.)

Retail Class GLA 2007 2008 2009 2010 2011

New Format Retail 13,360,006 154,702 626,117 962,463 990,248 1,420,8041.2% 4.7% 7.2% 7.4% 10.6%

Grocery Anchored Centre 6,756,386 202,851 698,236 958,691 823,271 1,001,0133.0% 10.3% 14.2% 12.2% 14.8%

Enclosed Shopping Centre 6,492,527 209,417 717,184 661,925 833,102 768,9753.2% 11.0% 10.2% 12.8% 11.8%

Non-Grocery Anchored Strip 1,461,282 45,426 107,821 163,626 118,127 78,5823.1% 7.4% 11.2% 8.1% 5.4%

Urban Retail 1,251,902 13,013 154,715 178,426 57,775 52,9231.0% 12.4% 14.3% 4.6% 4.2%

Office 1,586,241 87,260 104,217 202,871 360,311 314,7055.5% 6.6% 12.8% 22.7% 19.8%

Total 30,908,344 712,669 2,408,290 3,128,002 3,182,834 3,637,0022.3% 7.8% 10.1% 10.3% 11.8%

ProvincialRioCan’s Partners’ Retailer owned Total

interests NLA interests anchors site NLA

Ontario Central 12,034,368 2,842,549 2,965,016 17,841,933 Ontario East 4,065,301 1,118,680 1,015,045 6,199,026 Ontario West 2,515,933 1,652 650,187 3,167,772

Total Ontario 18,615,602 3,962,881 4,630,248 27,208,731

Quebec 5,638,359 630,342 1,492,781 7,761,482 Alberta 2,777,515 1,230,051 1,727,805 5,735,371 British Columbia 1,782,168 1,204,203 341,074 3,327,445 New Brunswick 1,248,795 138,165 375,615 1,762,575 Saskatchewan 316,992 279,508 – 596,500 Newfoundland 182,592 – – 182,592 Manitoba 178,875 – – 178,875 Prince Edward Island 167,446 167,446 – 334,892

Income Producing Properties 30,908,344 7,612,596 8,567,523 47,088,463

Properties Under Development 2,407,291 2,037,709 1,784,000 6,229,000

Total 33,315,635 9,650,305 10,351,523 53,317,463

Six High Growth MarketsRioCan’s Partners’ Retailer owned Total

interests NLA interests anchors site NLA

Calgary, Alberta 1,710,214 613,902 1,021,735 3,345,851 Edmonton, Alberta 718,857 584,442 606,070 1,909,369 Montreal, Quebec 3,124,977 630,342 185,700 3,941,019 Ottawa, Ontario 1 2,382,459 666,571 1,155,000 4,204,030 Toronto, Ontario 2 8,732,201 2,104,720 1,926,941 12,763,862 Vancouver, British Columbia 3 1,070,037 787,614 288,074 2,145,725

Income Producing Properties 17,738,745 5,387,591 5,183,520 28,309,856

Properties Under Development 2,019,450 1,756,550 1,307,000 5,083,000

Total 19,758,195 7,144,141 6,490,520 33,392,856

Notes:1. Area extends from Nepean and Vanier, to Gatineau, Quebec.2. Area extends north to Newmarket, west to Burlington and east to Ajax.3. Area extends east to Abbotsford.

Property Ownership by Geographic Area (square feet)At June 30, 2007


Percentage of area Percentage of annualizedPercentage occupied by rental revenue

of annualized Occupancy anchor and national from anchor and Area rental revenue percentage tenants national tenants

Ontario Central 39.0% 42.6% 99.1% 86.2% 83.4%Ontario East 13.2% 13.6% 96.8% 83.5% 83.3%Ontario West 8.1% 7.4% 97.3% 80.1% 84.4%

Total Ontario 60.3% 63.6% 98.3% 84.7% 83.5%

Quebec 18.2% 15.8% 97.7% 79.4% 82.1%Alberta 9.0% 9.9% 99.7% 84.0% 78.3%British Columbia 5.8% 6.3% 99.0% 85.4% 81.8%New Brunswick 4.0% 2.3% 83.0% 72.0% 84.6%Saskatchewan 1.0% 0.7% 96.9% 88.3% 82.1%Newfoundland 0.6% 0.3% 91.4% 80.5% 80.2%Manitoba 0.6% 0.6% 92.6% 72.5% 70.2%Prince Edward Island 0.5% 0.5% 98.6% 82.7% 84.8%

Total Portfolio 100.0% 100.0% 97.7% 83.1% 82.6%

Portfolio Geographic DiversificationAt June 30, 2007


Percentage Number Total area of annualized of occupied (sq. ft.,

Tenant rental revenue locations RioCan’s interest)

1. Metro/A&P/Dominion/Super C/Loeb/Food Basics 5.7% 49 1,932,7382. Famous Players/Cineplex/Galaxy Cinemas 5.7% 28 1,245,7583. Zellers/The Bay/Home Outfitters 3.9% 35 2,470,6954. Wal-Mart 3.8% 20 1,905,4925. Loblaws/No Frills/Fortinos/Zehrs/Maxi 3.8% 27 1,171,0286. Canadian Tire/PartSource/Mark’s Work Wearhouse 3.3% 51 1,139,4877. Winners/HomeSense 3.3% 50 1,018,5588. Staples/Business Depot 2.5% 40 848,0649. Reitmans/Penningtons/Smart Set/Addition-Elle/Thyme Maternity 1.9% 112 466,517

10. Shoppers Drug Mart 1.6% 33 321,95111. Chapters/Indigo 1.6% 25 317,89212. Future Shop/Best Buy 1.5% 17 395,41813. Harvey’s/Swiss Chalet/Kelsey’s/Montana’s/Milestone’s/Second Cup 1.5% 59 241,97014. Sport Mart/Sport Chek/Sports Experts/National Sports/Coast Mountain Sports 1.5% 45 385,98015. Safeway 1.1% 12 384,66616. Sears 1.0% 14 362,31217. Dollarama 0.9% 38 293,44418. Petsmart 0.8% 13 188,66819. Premier Fitness 0.7% 7 218,57720. London Drugs 0.6% 10 203,36621. Rona/Revy/Reno 0.6% 3 253,77622. TD Canada Trust 0.6% 27 106,29423. LCBO 0.6% 17 124,72724. East Side Mario’s/Casey’s 0.6% 21 95,84225. Michaels 0.6% 12 163,425

Total 49.7% 765 16,256,645

Top 25 Sources of Revenue by TenantAt June 30, 2007


Property Expiries

ownership (sq. ft.) Year 2007 2008 2009 2010 2011 Total

Ontario Central Square feet 12,034,368 243,988 997,849 1,235,360 1,173,645 1,480,695 5,131,537Percentage 2.0% 8.3% 10.3% 9.8% 12.3% 42.7%

Ontario East Square feet 4,065,301 101,746 238,124 394,003 529,866 426,044 1,689,783Percentage 2.5% 5.9% 9.7% 13.0% 10.5% 41.6%

Ontario West Square feet 2,515,933 54,153 251,648 277,139 336,589 117,749 1,037,278Percentage 2.2% 10.0% 11.0% 13.4% 4.7% 41.3%

Total Ontario Square feet 18,615,602 399,887 1,487,621 1,906,502 2,040,100 2,024,488 7,858,598 Percentage 2.1% 8.0% 10.2% 11.0% 10.9% 42.2%

Quebec Square feet 5,638,359 127,961 320,373 364,363 374,498 731,584 1,918,779Percentage 2.3% 5.7% 6.5% 6.6% 13.0% 34.1%

Alberta Square feet 2,777,515 81,201 248,180 355,955 370,265 352,192 1,407,793Percentage 2.9% 8.9% 12.8% 13.3% 12.7% 50.6%

British Columbia Square feet 1,782,168 58,180 128,328 216,429 154,563 208,276 765,776Percentage 3.3% 7.2% 12.1% 8.7% 11.7% 43.0%

New Brunswick Square feet 1,248,795 29,220 123,914 113,196 129,434 154,972 550,736Percentage 2.3% 9.9% 9.1% 10.4% 12.4% 44.1%

Saskatchewan Square feet 316,992 12,151 66,561 38,780 14,697 121,811 254,000Percentage 3.8% 21.0% 12.2% 4.6% 38.4% 80.0%

Newfoundland Square feet 182,592 520 6,515 16,760 37,889 36,474 98,158Percentage 0.3% 3.6% 9.2% 20.8% 20.0% 53.9%

Manitoba Square feet 178,875 805 12,933 88,670 26,775 5,573 134,756Percentage 0.5% 7.2% 49.6% 15.0% 3.1% 75.4%

Prince Edward Island Square feet 167,446 2,744 13,865 27,347 34,613 1,632 80,201Percentage 1.6% 8.3% 16.3% 20.7% 1.0% 47.9%

Total Square feet 30,908,344 712,669 2,408,290 3,128,002 3,182,834 3,637,002 13,068,797 Percentage 2.3% 7.8% 10.1% 10.3% 11.8% 42.3%

Lease Expiries by Geographical AreaAt June 30, 2007


Leasable area (sq. ft.)1

Current Leased Anticipated date Total TotalOwnership Total income Under under Retailer owned of substantial projected projected Cap

Property interest development producing development development anchors Anchors completion income cost2 rate

Projects Currently Under Development

Eglinton Avenue & Warden Avenue, Toronto, ON 100% 163,000 – 163,000 113,000 – Zellers Q2 2008 $ 2,634,000 $ 37,146,000 7.1%Fredericton, Fredericton, NB 62.5% 462,000 – 231,000 59,000 231,000 Home Depot *, Costco * Q4 2008 3,345,000 38,549,000 8.7%Gravenhurst, Gravenhurst, ON 33% 263,000 – 131,000 40,000 132,000 Canadian Tire *, Rona * Q4 2008 2,590,000 28,357,000 9.1%Highway 401 & Thickson Road – Phase I, Whitby, ON 25% 204,000 – 204,000 99,000 – Rona Q3 2008 3,047,000 40,866,000 7.5%Highway 401 & Thickson Road – Phase II, Whitby, ON 3 62.5% – – – – – – (405,000) 0.0%Highway 5 & Highway 6, Hamilton, ON 50% 264,000 – 149,000 140,000 115,000 Loblaws *, Rona Q2 2008 2,574,000 31,235,000 8.2%Queen Street & Portland Street, Toronto, ON 100% 99,000 – 99,000 – – Q2 2008 2,932,000 38,796,000 7.6%Richmond Green Marketplace, Richmond Hill, ON 50% 444,000 – 323,000 298,000 121,000 Home Depot *, Costco, Q3 2008 5,007,000 54,360,000 9.2%

Staples, Michaels

RioCan Centre Burloak, Oakville, ON 50% 552,000 – 454,000 448,000 98,000 Home Depot *, Cineplex, Q2 2008 9,593,000 106,584,000 9.0%Longo’s, Home Outfitters

RioCan Durham Centre – Ditch Lands, Ajax, ON 100% 33,000 – 33,000 33,000 – The Keg, Bank of Montreal Q4 2007 904,000 8,342,000 10.8%Strathallen, Vaughan, ON 31.25% 484,000 – 484,000 – – Q4 2008 4,761,000 55,022,000 8.7%Taunton Road & Garrard Road, Whitby, ON 100% 148,000 – 148,000 – – Q2 2008 1,055,000 12,389,000 8.5%Barrie Essa Road, Barrie, ON 100% 131,000 72,000 59,000 – – Loblaws * Q2 2008 2,212,000 23,165,000 9.5%RioCan Beacon Hill, Calgary, AB 40% 781,000 249,000 273,000 263,000 259,000 Costco *, Home Depot *, Q2 2008 11,162,000 121,431,000 9.2%

Canadian Tire, Winners/HomeSense,

Sport Chek, Michaels, Linens N Things

RioCan Centre Kingston – Phase II , Kingston, ON 100% 236,000 212,000 24,000 24,000 – The Brick, Home Outfitters, Best Buy Q4 2007 4,047,000 43,923,000 9.2%RioCan Centre Milton, Milton, ON 100% 291,000 112,000 59,000 44,000 120,000 Home Depot *, Sobeys *, Cineplex Q1 2008 3,382,000 40,831,000 8.3%RioCan Meadows, Edmonton, AB 50% 502,000 138,000 199,000 96,000 165,000 Loblaws *, Home Depot, Q1 2008 5,426,000 64,140,000 8.5%

Staples, Winners

RioCan Renfrew Centre, Renfrew, ON 100% 194,000 30,000 90,000 15,000 74,000 Loblaws *, Staples Q2 2008 1,824,000 23,573,000 7.7%Silver City Hull, Hull, QC 100% 184,000 85,000 99,000 6,000 – Cineplex Q4 2008 3,681,000 41,453,000 8.9%Summerside Shopping Centre, London, ON 20% 176,000 2,000 134,000 123,000 40,000 Loblaws *, Rona Q2 2008 2,187,000 25,363,000 8.6%Subtotal 5,611,000 900,000 3,356,000 1,801,000 1,355,000 $ 72,363,000 $ 835,120,000 8.7%

Other

Quartier DIX30, Montreal, QC4 50% 1,983,000 465,000 1,089,000 421,000 429,000 Wal Mart *, Loblaws *, Rona *, Cineplex, Q4 2008 32,619,000 425,383,000 7.7%Canadian Tire, Winners, Staples

Total Projects Currently Under Development 7,594,000 1,365,000 4,445,000 2,222,000 1,784,000 $ 104,982,000 $1,260,503,000 8.3%RioCan’s Interest 912,500 2,407,291

Lands Under Conditional Contract

Alberta 724,000

Ontario 1,919,000

Total Lands Under Conditional Contract 2,643,000

Total Development Projects 10,237,000Notes:1. All amounts are shown at 100% ownership.2. Proceeds from sales to shadow anchors reduce projected costs.3. Land to be sold to two retailers, a hotel and an industrial user. Proceeds from transactions reflected in schedule.4. As of June 30, 2007, approximately 45% of the site has yet to be acquired.* Retailer owned.

Greenfield Development ProjectsAt June 30, 2007


Contractual Debt Repayment ScheduleAt June 30, 2007(unaudited – in thousands of dollars, except percentage amounts)


Scheduled Percentage Principal maturities:principal Principal Total of total debt weighted average

Future repayments by year of maturity amortization maturities debt outstanding interest rate

2007 $ 29,151 $ 86,157 $ 115,308 3.9% 6.0%2008 52,957 309,956 362,913 12.4% 5.2%2009 50,559 316,416 366,975 12.6% 6.1%2010 42,730 341,691 384,421 13.2% 6.6%2011 37,943 269,061 307,004 10.5% 5.4%2012 35,979 239,109 275,088 9.4% 6.1%2013 32,782 282,422 315,204 10.8% 5.9%2014 28,462 90,222 118,684 4.1% 6.3%2015 27,227 100,298 127,525 4.4% 4.9%2016 21,386 206,785 228,171 7.8% 5.3%2017 13,571 166,874 180,445 6.2% 5.4%2018 10,149 – 10,149 0.4% 7.5%2019 6,302 – 6,302 0.2% 7.0%2020 2,132 – 2,132 0.1% 7.7%2023 – 5,400 5,400 0.2% 7.2%2024 – 6,950 6,950 0.2% 5.0%2026 – 100,000 100,000 3.4% 6.0%2034 – 6,933 6,933 0.2% 6.8%

$ 391,330 $ 2,528,274 $ 2,919,604 100.0% 5.8%

5.5 years weighted average term to maturity

Leverage ratio (Note 1) 54.6%% of debt at fixed rates 97.5%% of debt at floating rates 2.5%

Note 1

Leverage Ratio Calculation

Contractual debtMortgages payable per balance sheet $2,061,860 Debentures payable per balance sheet 863,910

Add: Unamortized debt financing costs 11,579Less: Unamortized differential between contractual and market interest rates on liabilities

assumed at the acquisition of properties (17,745)

$2,919,604

Aggregate assetsTotal assets per balance sheet $4,942,570 Add back: accumulated amortization of income properties 406,308

$5,348,878

Leverage ratio (Defined by RioCan’s Declaration of Trust)$2,919,604 / $5,348,878 54.6%

Additional debt permitted to be at 60% leverage(($5,348,878 x 60%) – $2,919,604) / (1 – 60%) $ 724,307

Debt Ratio AnalysisAt June 30, 2007(unaudited – in thousands of dollars, except percentage amounts)


General InformationAt June 30, 2007


Distributions per Unit:

Distributions are paid monthlyYear

2007 (through June 2007) $0.660002006 $1.297502005 $1.272502004 $1.227502003 $1.140002002 $1.105002001 $1.075002000 $1.071251999 $1.040001998 $0.950001997 $0.775001996 $0.650001995 $0.580001994 $0.43000

Unitholder Distribution Reinvestment Plan:

RioCan has a unitholder distribution reinvestment plan which allows distributions to be automatically reinvested without commissions and provides participants with a number of bonus units equal to 3.1% of the number of units acquired upon the reinvestment.

Average Daily Volume of Units Traded:2007 2006 2005 2004 2003

4th quarter 552,492 527,237 426,341 257,5673rd quarter 351,576 410,455 296,513 336,4882nd quarter 500,470 478,740 349,451 429,481 349,3331st quarter 560,320 410,957 469,504 446,642 253,824

Annual 448,263 438,333 399,929 299,303

Unit Prices ($):Q2 2007 Q1 2007 Q4 2006 Q3 2006 Q2 2006 Q1 2006

High $26.95 $27.34 $26.78 $24.60 $23.10 $23.96Low 22.80 23.69 22.75 21.30 19.93 20.96Close 23.65 24.84 25.15 24.01 21.64 23.06

Non-resident Ownership:Q2 2007 Q1 2007 Q4 2006 Q3 2006 Q2 2006 Q1 2006

Canadian 69.7% 70.6% 71.5% 69.8% 71.0% 73.3%Non-resident 30.3% 29.4% 28.5% 30.2% 29.0% 26.7%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Senior Management and Unitholder Information


Head Office:

RioCan Real Estate Investment TrustThe Exchange Tower, Suite 700, P.O. Box 378130 King Street West, Toronto, Ontario M5X IE2Tel: (416) 866-3033 or 1 (800) 465-2733Fax: (416) 866-3020Website: www.riocan.comE-mail: [email protected]

Senior Management:

Edward Sonshine, Q.C. President & Chief Executive OfficerFrederic A. Waks Senior Vice President & Chief Operating OfficerRobert Wolf Vice President & Chief Financial OfficerJohn Ballantyne Vice President, Asset ManagementMichael Connolly Vice President, ConstructionTherese Cornelissen Vice President, Financial ReportingDanny Kissoon Vice President, OperationsDonald MacKinnon Vice President, Real Estate FinanceSuzanne Marineau Vice President, Human ResourcesKaty Ritcey Vice President, InvestmentsJordan Robins Vice President, DevelopmentJeff Ross Vice President, Leasing

Investor Relations Contacts:

Correna CraigDirector of Public & Investor RelationsTel: (416) 864-6483 or 1 (800) 465-2733Fax: (416) 866-8567E-mail: [email protected]

Stock Exchange Listing: The Toronto Stock Exchange

Trading Symbol: REI.UN

Transfer Agent & Registrar:

CIBC Mellon Trust CompanyP.O. Box 7010 Adelaide Street Postal Station, Toronto, ON M5C 2W9Answerline: (416) 643-5500/Toll free North America: 1 (800) 387-0825Website: www.cibcmellon.comE-mail: [email protected]

Nancy MedlockInvestor Relations AdministratorTel: (416) 306-2406 or 1 (800) 465-2733Fax: (416) 866-8567E-mail: [email protected]

Documents

RioCan Real Estate Investment Trust · 1 Second Quarter Ended June 30, 2007 Supplemental Information Package Real Estate Portfolio Fact Sheet At June 30, 2007 Total Area (sq. ft.):