Dundee REIT and Whiterock REIT Enter Into Transaction Agreement

Key Transaction Highlights - Whiterock unitholders will have the option to receive $16.25 in cash, or remain invested in the combined entity and receive 0.4729 Dundee REIT units per Whiterock unit, subject to proration - The transaction provides compelling value for unitholders of Whiterock and an opportunity to participate in further upside in Dundee REIT units on a tax-deferred basis - For Dundee REIT, this accretive transaction adds a complementary portfolio, the opportunity to realize material operational and financial synergies and solidifies Dundee REIT's position as Canada's largest national office REIT - The transaction has received unanimous approval by the Boards of Trustees of Whiterock and Dundee REIT, respectively - All Trustees and senior management of Whiterock have entered into voting agreements pursuant to which they have agreed to vote their securities in favour of the transaction