WPT Industrial Real Estate Investment Trust

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TORONTO, June 28, 2021 (GLOBE NEWS) – WPT Industrial Real Estate Investment Trust (“REIT”) (TSX: WIR.U; WIR.UN – OTCQX: WPTIF) announced today the results of the Trustee votes and resolutions on some amendments to the amended and revised REIT Trust Declaration of April 26, 2013“Declaration of confidence“) At the Annual and Special Shareholders’ Meeting this morning (“A meeting“).

VOTING RESULTS

Each of the nominees listed in the May 13, 2021 Management Fact Sheet (“Circular”) Was elected as Trustee of the REIT at the Meeting. When voting by ballots, the voting results were as follows:

Nominee # of Vote For % of Vote For # of Vote Withheld % of Vote Withheld
Milo D. Arkema 54 087 898 99.33% 367 263 0.67%
Laurie-Anne Beausoleil 54 377 867 99.86% 77,294 0.14%
Louis DiNunzio 53 951 074 99.07% 504,087 0.93%
Scott T. Frederiksen 53 147 464 97.60% 1,307,697 2.40%
Sara B. Kavanagh 53 430 578 98.12% 1,024,583 1.88%
Stuart H.B.Smith 53 952 753 99.08% 502,408 0.92%
Pamela J. Spackman 54 360 963 99.83% 94198 0.17%
Robert T. Wolff 54 367 128 99.84% 88,033 0.16%

At the meeting, the equity holders also reappointed KPMG LLP as REIT auditors and approved an advisory resolution on the REIT’s approach to executive compensation. In addition, the meeting approved each of the resolutions for some of the proposed amendments to the Declaration of Confidence, each of which is described in more detail in the Circular. In case of separate voting, carried out by ballots, the voting results were:

Amendments to Resolutions # of Vote For % of Vote For # of Vote Vs % of votes Vs
Resolution approving some of the business amendments to the Declaration of Trust, as specified in Appendix B to the Circular. 35 183 805 64.61% 19 271 356 35.39%
A resolution approving certain amendments to the Declaration of Trust to increase the applicable threshold for reaching a quorum at a shareholder meeting, as specified in Appendix C to the Circular. 54 363 705 99.83% 91,456 0.17%
A resolution approving certain amendments to the Declaration of Trust to extend the AGM, subject to applicable securities laws and stock exchange rules, as set out in Appendix D to the Circular. 54 342 406 99.79% 112,755 0.21%
Resolution approving certain amendments to the Declaration of Trust to revise the provisions for prior notification of nominations for election to the Board of Trustees, as set out in Appendix E of the Circular. 54 341 734 99.79% 113,427 0.21%
Resolution approving certain amendments to the Declaration of Trust to revise the definition of “Gross Carrying Amount” as set out in Appendix F to the Circular. 54 312 289 99.74% 142,872 0.26%
Resolution approving some amendments to the Declaration of Trust to revise the REIT’s operating policy for obtaining a Phase I environmental assessment of a site, as specified in Appendix G to the Circular. 54 340 430 99.79% 114,731 0.21%

Detailed information on vote returns on all issues addressed at the meeting is available in the REIT vote returns report, which is available on the REIT profile on SEDAR at www.sedar.com.

About WPT Industrial Real Estate Investment Trust

The WPT Industrial Real Estate Investment Trust is an unincorporated public real estate investment fund established by a declaration of trust under the laws of the Province of Ontario. REIT acquires, develops, operates and owns distribution and logistics real estate located in the United States. WPT Industrial, LP (an operating subsidiary of REIT) indirectly owns or operates a portfolio of real estate properties in 20 US states, consisting of approximately 37.5 million square feet of GLA space and 109 properties. REIT pays monthly cash payments, which are currently $ 0.0633 per unit, or roughly $ 0.76 per unit year on year, in US funds.

For more information, please contact:

Scott Frederiksen, CEO
WPT Industrial Real Estate Investment Trust
Tel: (952) 897-7737
Fax: (952) 842-7737
www.wptreit.com

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