Company Merged

Effective June 1, 2015, Slate Retail REIT acquired all of the assets of Slate US Opportunity (No 3) Realty Trust in consideration for Class U units of Slate Retail REIT Cl U as per the following schedule: each No 3 Class A unit was exchanged for 1.00439 Slate Retail REIT Class U units; each No 3 Class F unit was exchanged for 1.03656 Slate Retail REIT Class U units; each No 3 Class U unit was exchanged for 1.041202 Slate Retail REIT Class U units. Distributions of Slate Retail REIT Class U units are denominated in $US.