ARTIS REAL ESTATE INVESTMENT TRUST ANNOUNCES NOTICE OF REDEMPTION OF SERIES A PREFERRED UNITS EFFECTIVE SEPTEMBER 30, 2022

WINNIPEG, MB, Aug. 24, 2022 /CNW/ - Artis Real Estate Investment Trust ("Artis" or the "REIT") (TSX: AX.UN) (TSX: AX.PR.A) announced today that it has delivered formal notice to the registered holder(s) of its Preferred Units, Series A (the "Series A Units") that, on September 30, 2022, the REIT will redeem all of the 3,248,300 outstanding Series A Units at a price of $25.353875 (the "Redemption Price") for each Series A Unit, being $25.00 plus $0.353875 in accrued and unpaid distributions thereon up to but excluding September 30, 2022, less any taxes required to be deducted and withheld by Artis.

After September 30, 2022, the Series A Units will cease to be entitled to distributions and the only remaining rights of holders of such units will be to receive payment of the redemption amount.

Artis is a diversified Canadian real estate investment trust with a portfolio of industrial, office and retail properties in Canada and the United States. Artis' vision is to build a best-in-class asset management and investment platform focused on growing net asset value per unit and distributions for investors through value investing in real estate.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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SOURCE Artis Real Estate Investment Trust

Mr. Samir Manji, President and Chief Executive Officer, Ms. Jaclyn Koenig, Chief Financial Officer or Ms. Heather Nikkel, Vice-President - Investor Relations and Sustainability of the REIT at 1.204.947.1250