Granite REIT Announces Renewal of Normal Course Issuer Bid
Granite Real Estate Investment Trust (TSX: GRT.UN) (“Granite REIT” or “Granite”) today announced the acceptance by the Toronto Stock Exchange (the “TSX”) of Granite’s Notice of Intention to Make a Normal Course Issuer Bid (“NCIB”). Pursuant to the NCIB, Granite proposes to purchase through the facilities of the TSX and any alternative trading system in Canada, from time to time over the next 12 months, if considered advisable, up to an aggregate of6,038,313of Granite REIT’s issued and outstanding units (the “Units”), being approximately 10% of Granite REIT’s public float of Units as of May 20, 2026. Pursuant to a previous notice of intention to conduct a NCIB, under which Granite REIT sought and received approval from the TSX to purchase up to 6,060,162 Units for the period of May 26, 2025 to May 25, 2026, Granite REIT has purchased, as of May 20, 2026, 237,536 Units on the open market at a weighted average purchase price of $69.2167 per Unit. As of May 20, 2026, Granite REIT had 60,713,130 Units issued and outstanding and a public float of 60,383,131Units.
The NCIB will commence on May 26, 2026 and will conclude on the earlier of the date on which purchases under the bid have been completed and May 25, 2027. Daily purchases made by Granite through the TSX may not exceed 25,625Units, being 25% of the average daily trading volume of 102,501 Units on the TSX for the six-month period ended April 30, 2026. These daily maximums are subject to certain exceptions prescribed by the TSX, including the “block purchase exemption”.
