GRANITE REAL ESTATE INVESTMENT TRUST

Development Properties

As of December 31, 2024, Granite’s development properties are comprised of both properties under development and land held for development which includes:

i. a 34.0 acre site in Brantford, Ontario where Granite is currently seeking site plan approval for its second phase of development for up to 0.7 million square feet;

ii. a 101.5 acre site in Houston, Texas where Granite is currently seeking site plan approval and continues its site infrastructure work for the third phase of development for up to 1.3 million square feet;

iii.12.9 acres of development land in West Jefferson, Ohio;

iv. the remaining 36.0 acre parcel of land in Brantford, Ontario, for the development of a multi-phased business park, comprising a total of approximately 0.6 million square feet of modern distribution and logistics space upon completion; and

v.10.1 acres of land in Brant County, Ontario for the development of a 0.2 million square foot modern distribution facility.