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9.50 Tf ET q 0 0 0 rg BT 424.20 300.03 Td (250,253) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 300.03 Td (252,157) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 286.03 Td (Total liabilities and equity) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 402.00 286.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 424.20 286.03 Td (817,233) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 487.00 286.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 286.03 Td (812,995) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 50.00 769.35 Td ( SLA) Tj ET Q q 0 0 0 rg BT 94.46 769.35 Td (TE OFFICE REIT ) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 217.05 752.55 Td (TED INTERIM ST) Tj ET Q q 0 0 0 rg BT 307.41 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 314.85 752.55 Td (TEMENTS OF COMPREHENSIVE INCOME ) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 735.75 Td (\(LOSS\)) Tj ET Q BT /F2 10.00 Tf 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RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 482.5 m 345.5 482.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 345.5 482.5 m 374.5 482.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374.5 482.5 m 378.5 482.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378.5 482.5 m 403.5 482.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 482.5 m 459.5 482.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 482.5 m 484.5 482.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484.5 482.5 m 540.5 482.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 467.5 m 345.5 467.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.5 467.5 m 374.5 467.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 467.5 m 378.5 467.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 467.5 m 403.5 467.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 467.5 m 459.5 467.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 467.5 m 484.5 467.5 l s 0 0 0 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Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 434.30 592.03 Td (\(4,203) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 592.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 592.03 Td (\(2,760) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 592.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 577.03 Td (General and administrative) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 355.15 576.98 Td (16) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 434.30 577.03 Td (\(1,040) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 577.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 521.80 577.03 Td (\(593) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 577.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 562.03 Td (Change in fair value of investment properties) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 357.30 561.98 Td (4) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 436.90 562.03 Td (1,938) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 562.03 Td (\(2,127) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 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0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 668.5 m 465.5 668.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 598.5 m 286.5 598.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 286.5 598.5 m 315.5 598.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 315.5 598.5 m 390.5 598.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 598.5 m 465.5 598.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465.5 598.5 m 540.5 598.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 584.5 m 286.5 584.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 584.5 m 315.5 584.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 584.5 m 390.5 584.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 584.5 m 465.5 584.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 584.5 m 540.5 584.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 513.5 m 286.5 513.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 286.5 513.5 m 315.5 513.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 315.5 513.5 m 390.5 513.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 513.5 m 465.5 513.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465.5 513.5 m 540.5 513.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 499.5 m 286.5 499.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 499.5 m 315.5 499.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 499.5 m 390.5 499.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 499.5 m 465.5 499.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 499.5 m 540.5 499.5 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 291.80 673.03 Td (Note) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 367.95 682.53 Td (T) Tj ET Q q 0 0 0 rg BT 372.28 682.53 Td (rust) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 368.35 673.03 Td (units) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 429.10 682.53 Td (Retained) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 429.50 673.03 Td (earnings) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 493.80 673.03 Td (Total equity) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 659.03 Td (December 31, 2015) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 318.00 659.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 359.20 659.03 Td (227,030) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 393.00 659.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 438.55 659.03 Td (25,127) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 468.00 659.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 509.20 659.03 Td (252,157) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 645.03 Td (Distributions) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 296.15 644.98 Td (14) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 379.60 645.08 Td () Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 440.30 645.03 Td (\(5,632) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 462.40 645.03 Td (\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 515.30 645.03 Td (\(5,632) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 537.40 645.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 631.03 Td (Units issued pursuant to DRIP) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 296.15 630.98 Td (13) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 374.40 631.03 Td (465) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 454.60 631.03 Td () Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 524.40 631.03 Td (465) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 617.03 Td (Repurchases of units) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 296.15 616.98 Td (13) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 371.80 617.08 Td (\(384) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 387.40 617.03 Td (\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 453.70 617.03 Td (26) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 521.80 617.03 Td (\(358) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 537.40 617.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 603.03 Td (Net income and comprehensive income) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 379.60 603.08 Td () Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 442.90 603.03 Td (3,621) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 517.90 603.03 Td (3,621) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 589.03 Td (March 31, 2016) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 318.00 589.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 359.20 589.03 Td (227,111) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 393.00 589.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 438.55 589.03 Td (23,142) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 468.00 589.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 509.20 589.03 Td (250,253) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 560.03 Td (December 31, 2014) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 318.00 560.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 359.20 560.03 Td (124,532) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 393.00 560.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 438.55 560.03 Td (15,562) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.00 560.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 560.03 Td (140,094) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 546.03 Td (Distributions) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 296.15 545.98 Td (14) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 379.60 546.08 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 440.30 546.03 Td (\(2,802) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 462.40 546.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 546.03 Td (\(2,802) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 546.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 532.03 Td (Units issued pursuant to DRIP) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 296.15 531.98 Td (13) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 374.40 532.03 Td (111) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 454.60 532.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 532.03 Td (111) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 518.03 Td (Net loss and comprehensive loss) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 379.60 518.08 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 440.30 518.03 Td (\(1,230) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 462.40 518.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 518.03 Td (\(1,230) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 518.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 504.03 Td (March 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 318.00 504.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 359.20 504.03 Td (124,643) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 393.00 504.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 438.55 504.03 Td (11,530) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.00 504.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 504.03 Td (136,173) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 217.05 752.55 Td (TED INTERIM ST) Tj ET Q q 0 0 0 rg BT 307.41 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 314.85 752.55 Td (TEMENTS OF CASH FLOWS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(in thousands of Canadian dollars\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 294.30 42.95 Td (Page 5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 132.00 21.35 Td (The accompanying notes are an integral part of these condensed consolidated interim financial statements) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 701.5 m 345.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.5 701.5 m 374.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 701.5 m 378.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 701.5 m 403.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 701.5 m 459.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 701.5 m 484.5 701.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 701.5 m 540.5 701.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 677.5 m 345.5 677.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374.5 677.5 m 378.5 677.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378.5 677.5 m 403.5 677.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 677.5 m 459.5 677.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 677.5 m 484.5 677.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484.5 677.5 m 540.5 677.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 345.5 677.5 m 374.5 677.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 456.5 m 345.5 456.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 345.5 456.5 m 374.5 456.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374.5 456.5 m 378.5 456.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378.5 456.5 m 403.5 456.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 456.5 m 459.5 456.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 456.5 m 484.5 456.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484.5 456.5 m 540.5 456.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 385.5 m 345.5 385.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 345.5 385.5 m 374.5 385.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374.5 385.5 m 378.5 385.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378.5 385.5 m 403.5 385.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 385.5 m 459.5 385.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 385.5 m 484.5 385.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484.5 385.5 m 540.5 385.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 306.5 m 345.5 306.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 345.5 306.5 m 374.5 306.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374.5 306.5 m 378.5 306.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378.5 306.5 m 403.5 306.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 306.5 m 459.5 306.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 306.5 m 484.5 306.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484.5 306.5 m 540.5 306.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 265.5 m 345.5 265.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 345.5 265.5 m 374.5 265.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374.5 265.5 m 378.5 265.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378.5 265.5 m 403.5 265.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 265.5 m 459.5 265.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 265.5 m 484.5 265.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484.5 265.5 m 540.5 265.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 250.5 m 345.5 250.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.5 250.5 m 374.5 250.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 250.5 m 378.5 250.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 250.5 m 403.5 250.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 250.5 m 459.5 250.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 250.5 m 484.5 250.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 250.5 m 540.5 250.5 l s BT /F2 9.50 Tf ET q 0 0 0 rg BT 428.25 692.08 Td (Three months ended March 31,) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 350.80 680.08 Td (Note) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 438.65 680.08 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 519.65 680.08 Td (2015) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 668.08 Td (Operating activities) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 655.08 Td (Net income \(loss\) and comprehensive income \(loss\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 406.00 655.08 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 436.90 655.08 Td (3,621) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 487.00 655.08 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 655.08 Td (\(1,230) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 655.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 642.08 Td (Straight-line rent and other changes) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 357.30 642.08 Td (4) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 440.80 642.08 Td (\(493) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 642.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 521.80 642.08 Td (\(502) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 642.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 629.08 Td (Interest income) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 445.10 629.08 Td (\(15) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 629.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 629.08 Td (287) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 616.08 Td (Interest received) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 447.70 616.08 Td (15) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 521.80 616.08 Td (\(287) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 616.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 603.08 Td (Interest and finance costs) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 355.15 603.08 Td (17) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 436.90 603.08 Td (4,203) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 603.08 Td (2,743) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 590.08 Td (Interest paid) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 434.30 590.08 Td (\(3,947) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 590.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 590.08 Td (\(2,760) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 590.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 577.08 Td (Finance income on finance lease receivable) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 357.30 577.08 Td (6) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 434.30 577.08 Td (\(1,022) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 577.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 577.08 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 564.08 Td (Finance interest payments received) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 357.30 564.08 Td (6) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 436.90 564.08 Td (1,022) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 564.08 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 551.08 Td (Income from equity accounted investment) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 448.60 551.08 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 551.08 Td (\(1,190) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 551.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 538.08 Td (Change in fair value of financial instruments) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 355.15 538.08 Td (18) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 443.40 538.08 Td (811) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 538.08 Td (1,748) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 525.08 Td (Change in fair value of investment properties) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 357.30 525.08 Td (4) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 434.30 525.08 Td (\(1,938) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 525.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 525.08 Td (2,127) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 512.08 Td (Change in fair value of Class B LP units) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 355.15 512.08 Td (11) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 436.90 512.08 Td (4,440) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 512.08 Td (2,156) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 499.08 Td (Distributions to Class B LP unitholders) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 355.15 499.08 Td (14) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 443.40 499.08 Td (991) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 499.08 Td (951) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 486.08 Td (Distributions paid to Class B LP unitholders) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 355.15 486.08 Td (14) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 440.80 486.08 Td (\(991) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 486.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 521.80 486.08 Td (\(951) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 486.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 473.08 Td (Depreciation of hotel asset) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 357.30 473.08 Td (4) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 443.40 473.08 Td (136) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 473.08 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 460.08 Td (Working capital items) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 436.90 460.08 Td (4,002) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 521.80 460.08 Td (\(710) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 460.08 Td (\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 432.55 447.08 Td (10,835) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 447.08 Td (2,382) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 434.08 Td (Investing activities) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 420.03 Td (Principal payments on finance lease receivable) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 357.30 419.98 Td (6) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 443.40 420.03 Td (503) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 420.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 405.03 Td (Capital expenditures) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 357.30 404.98 Td (4) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 434.30 405.03 Td (\(6,099) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 405.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 521.80 405.03 Td (\(181) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 405.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 390.03 Td (Direct leasing expenses) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 357.30 389.98 Td (4) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 434.30 390.03 Td (\(4,198) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 390.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 390.03 Td (\(1,428) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 390.03 Td (\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 434.30 376.08 Td (\(9,794) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 376.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 376.08 Td (\(1,609) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 376.08 Td (\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 363.08 Td (Financing activities) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 350.08 Td (Repurchases of units) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 355.15 350.08 Td (13) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 440.80 350.08 Td (\(358) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 350.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 350.08 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 337.08 Td (Mortgage principal payments) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 440.80 337.08 Td (\(608) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 337.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 337.08 Td (\(1,034) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 337.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 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q 0 0 0 rg BT 434.30 284.08 Td (\(6,592) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 284.08 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 284.08 Td (\(1,201) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 284.08 Td (\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 270.03 Td (Cash, beginning of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 436.90 270.03 Td (8,917) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 270.03 Td (3,067) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 255.03 Td (Cash, end of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 406.00 255.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 436.90 255.03 Td (2,325) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 487.00 255.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 255.03 Td (1,866) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 303.30 42.95 Td (Page 6) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 681.80 Td (1. ) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 90.00 681.80 Td (Description ) Tj ET Q q 0 0 0 rg BT 135.02 681.80 Td (of ) Tj ET Q q 0 0 0 rg BT 144.54 681.80 Td (the ) Tj ET Q q 0 0 0 rg BT 158.39 681.80 Td (REIT ) Tj ET Q q 0 0 0 rg BT 178.30 681.80 Td (and ) Tj ET Q q 0 0 0 rg BT 194.32 681.80 Td (operations) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 664.40 Td (Slate ) Tj ET Q q 0 0 0 rg BT 92.16 664.40 Td (Of) Tj ET Q q 0 0 0 rg BT 100.25 664.40 Td (fice ) Tj ET Q q 0 0 0 rg BT 114.78 664.40 Td (REIT) Tj ET Q q 0 0 0 rg BT 132.39 664.40 Td ( ) Tj ET Q q 0 0 0 rg BT 134.79 664.40 Td (\(the ) Tj ET Q q 0 0 0 rg BT 150.61 664.40 Td (REIT\) ) Tj ET Q q 0 0 0 rg BT 178.54 664.40 Td (is ) Tj ET Q q 0 0 0 rg BT 186.56 664.40 Td (an ) Tj ET Q q 0 0 0 rg BT 197.63 664.40 Td (unincorporated, ) Tj ET Q q 0 0 0 rg BT 254.17 664.40 Td (open-ended ) Tj ET Q q 0 0 0 rg BT 298.16 664.40 Td (real ) Tj ET Q q 0 0 0 rg BT 313.54 664.40 Td (estate ) Tj ET Q q 0 0 0 rg BT 337.17 664.40 Td (investment ) Tj ET Q q 0 0 0 rg BT 377.25 664.40 Td (trust ) Tj ET Q q 0 0 0 rg BT 394.80 664.40 Td (constituted ) Tj ET Q q 0 0 0 rg BT 434.89 664.40 Td (in ) Tj ET Q q 0 0 0 rg BT 443.35 664.40 Td (accordance ) Tj ET Q q 0 0 0 rg BT 486.03 664.40 Td (with ) Tj ET Q q 0 0 0 rg BT 502.28 664.40 Td (the ) Tj ET Q q 0 0 0 rg BT 515.52 664.40 Td (laws ) Tj ET Q q 0 0 0 rg BT 533.50 664.40 Td (of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 653.00 Td (the ) Tj ET Q q 0 0 0 rg BT 85.30 653.00 Td (Province ) Tj ET Q q 0 0 0 rg BT 118.07 653.00 Td (of ) Tj ET Q q 0 0 0 rg BT 127.04 653.00 Td (Ontario ) Tj ET Q q 0 0 0 rg BT 155.06 653.00 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 187.84 653.00 Td (to ) Tj ET Q q 0 0 0 rg BT 196.81 653.00 Td (an ) Tj ET Q q 0 0 0 rg BT 207.94 653.00 Td (amended ) Tj ET Q q 0 0 0 rg BT 242.89 653.00 Td (and ) Tj ET Q q 0 0 0 rg BT 258.36 653.00 Td (restated ) Tj ET Q q 0 0 0 rg BT 288.98 653.00 Td (Declaration ) Tj ET Q q 0 0 0 rg BT 330.85 653.00 Td (of ) Tj ET Q q 0 0 0 rg BT 339.66 653.00 Td (T) Tj ET Q q 0 0 0 rg BT 344.13 653.00 Td (rust ) Tj ET Q q 0 0 0 rg BT 359.59 653.00 Td (dated ) Tj ET Q q 0 0 0 rg BT 381.55 653.00 Td (December ) Tj ET Q q 0 0 0 rg BT 419.95 653.00 Td (17, ) Tj ET Q q 0 0 0 rg BT 433.25 653.00 Td (2014, ) Tj ET Q q 0 0 0 rg BT 455.21 653.00 Td (as ) Tj ET Q q 0 0 0 rg BT 465.91 653.00 Td (amended ) Tj ET Q q 0 0 0 rg BT 500.86 653.00 Td (on ) Tj ET Q q 0 0 0 rg BT 511.99 653.00 Td (May ) Tj ET Q q 0 0 0 rg BT 529.18 653.00 Td (25, ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 641.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 91.38 641.60 Td (\(the ) Tj ET Q q 0 0 0 rg BT 106.86 641.60 Td ("Declaration ) Tj ET Q q 0 0 0 rg BT 151.07 641.60 Td (of ) Tj ET Q q 0 0 0 rg BT 159.49 641.60 Td (T) Tj ET Q q 0 0 0 rg BT 163.97 641.60 Td (rust"\). ) Tj ET Q q 0 0 0 rg BT 186.13 641.60 Td (As ) Tj ET Q q 0 0 0 rg BT 197.27 641.60 Td (of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 205.82 641.60 Td (March31, ) Tj ET Q q 0 0 0 rg BT 242.51 641.60 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 259.84 641.60 Td (, ) Tj ET Q q 0 0 0 rg BT 264.06 641.60 Td (the ) Tj ET Q q 0 0 0 rg BT 276.94 641.60 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 302.13 641.60 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 331.89 641.60 Td (consists ) Tj ET Q q 0 0 0 rg BT 362.09 641.60 Td (of ) Tj ET Q q 0 0 0 rg BT 370.64 641.60 Td (34 ) Tj ET Q q 0 0 0 rg BT 381.36 641.60 Td (commercial ) Tj ET Q q 0 0 0 rg BT 423.23 641.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 459.92 641.60 Td (located ) Tj ET Q q 0 0 0 rg BT 487.10 641.60 Td (in ) Tj ET Q q 0 0 0 rg BT 495.21 641.60 Td (Canada. ) Tj ET Q q 0 0 0 rg BT 526.59 641.60 Td (The ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 630.20 Td (units ) Tj ET Q q 0 0 0 rg BT 90.63 630.20 Td (of ) Tj ET Q q 0 0 0 rg BT 99.29 630.20 Td (the ) Tj ET Q q 0 0 0 rg BT 112.29 630.20 Td (REIT) Tj ET Q q 0 0 0 rg BT 129.90 630.20 Td ( ) Tj ET Q q 0 0 0 rg BT 132.06 630.20 Td (trade ) Tj ET Q q 0 0 0 rg BT 151.99 630.20 Td (on ) Tj ET Q q 0 0 0 rg BT 162.82 630.20 Td (the ) Tj ET Q q 0 0 0 rg BT 175.68 630.20 Td (T) Tj ET Q q 0 0 0 rg BT 179.58 630.20 Td (oronto ) Tj ET Q q 0 0 0 rg BT 203.84 630.20 Td (Stock ) Tj ET Q q 0 0 0 rg BT 225.49 630.20 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 262.31 630.20 Td (\(TSX\) ) Tj ET Q q 0 0 0 rg BT 290.00 630.20 Td (under ) Tj ET Q q 0 0 0 rg BT 312.09 630.20 Td (the ) Tj ET Q q 0 0 0 rg BT 325.08 630.20 Td (symbol ) Tj ET Q q 0 0 0 rg BT 351.93 630.20 Td (SOT) Tj ET Q q 0 0 0 rg BT 369.68 630.20 Td (.UN.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 612.80 Td (The ) Tj ET Q q 0 0 0 rg BT 87.59 612.80 Td (principal, ) Tj ET Q q 0 0 0 rg BT 120.94 612.80 Td (registered ) Tj ET Q q 0 0 0 rg BT 157.74 612.80 Td (and ) Tj ET Q q 0 0 0 rg BT 172.91 612.80 Td (head ) Tj ET Q q 0 0 0 rg BT 192.40 612.80 Td (of) Tj ET Q q 0 0 0 rg BT 198.77 612.80 Td (fice ) Tj ET Q q 0 0 0 rg BT 213.06 612.80 Td (of ) Tj ET Q q 0 0 0 rg BT 221.73 612.80 Td (the ) Tj ET Q q 0 0 0 rg BT 234.73 612.80 Td (REIT) Tj ET Q q 0 0 0 rg BT 252.33 612.80 Td ( ) Tj ET Q q 0 0 0 rg BT 254.50 612.80 Td (is ) Tj ET Q q 0 0 0 rg BT 262.29 612.80 Td (121 ) Tj ET Q q 0 0 0 rg BT 277.46 612.80 Td (King ) Tj ET Q q 0 0 0 rg BT 295.22 612.80 Td (Street ) Tj ET Q q 0 0 0 rg BT 318.17 612.80 Td (W) Tj ET Q q 0 0 0 rg BT 325.39 612.80 Td (est, ) Tj ET Q q 0 0 0 rg BT 339.98 612.80 Td (T) Tj ET Q q 0 0 0 rg BT 343.88 612.80 Td (oronto, ) Tj ET Q q 0 0 0 rg BT 370.30 612.80 Td (ON, ) Tj ET Q q 0 0 0 rg BT 386.32 612.80 Td (Canada ) Tj ET Q q 0 0 0 rg BT 415.77 612.80 Td (M5H ) Tj ET Q q 0 0 0 rg BT 434.38 612.80 Td (3T9.) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 595.40 Td (2. ) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 90.00 595.40 Td (Basis ) Tj ET Q q 0 0 0 rg BT 112.95 595.40 Td (of ) Tj ET Q q 0 0 0 rg BT 122.47 595.40 Td (preparation) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 72.00 578.00 Td (i. ) Tj ET Q q 0 0 0 rg BT 78.06 578.00 Td ( ) Tj ET Q q 0 0 0 rg BT 80.23 578.00 Td ( ) Tj ET Q q 0 0 0 rg BT 82.40 578.00 Td (Statement ) Tj ET Q q 0 0 0 rg BT 120.08 578.00 Td (of ) Tj ET Q q 0 0 0 rg BT 128.74 578.00 Td (compliance) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 560.60 Td (These ) Tj ET Q q 0 0 0 rg BT 95.84 560.60 Td (condensed ) Tj ET Q q 0 0 0 rg BT 136.16 560.60 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 182.09 560.60 Td (interim ) Tj ET Q q 0 0 0 rg BT 207.66 560.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 238.44 560.60 Td (statements ) Tj ET Q q 0 0 0 rg BT 278.74 560.60 Td (\(the ) Tj ET Q q 0 0 0 rg BT 294.36 560.60 Td ("consolidated ) Tj ET Q q 0 0 0 rg BT 343.06 560.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 373.83 560.60 Td (statements"\) ) Tj ET Q q 0 0 0 rg BT 419.50 560.60 Td (have ) Tj ET Q q 0 0 0 rg BT 438.58 560.60 Td (been ) Tj ET Q q 0 0 0 rg BT 458.10 560.60 Td (prepared ) Tj ET Q q 0 0 0 rg BT 491.47 560.60 Td (in ) Tj ET Q q 0 0 0 rg BT 499.73 560.60 Td (accordance ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 549.20 Td (with ) Tj ET Q q 0 0 0 rg BT 87.95 549.20 Td (International ) Tj ET Q q 0 0 0 rg BT 132.52 549.20 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 173.17 549.20 Td (Standard ) Tj ET Q q 0 0 0 rg BT 206.89 549.20 Td (34, ) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 219.83 549.20 Td (Interim ) Tj ET Q q 0 0 0 rg BT 245.74 549.20 Td (Financial ) Tj ET Q q 0 0 0 rg BT 279.02 549.20 Td (Reporting) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 312.79 549.20 Td (. ) Tj ET Q q 0 0 0 rg BT 317.06 549.20 Td (Certain ) Tj ET Q q 0 0 0 rg BT 344.27 549.20 Td (information ) Tj ET Q q 0 0 0 rg BT 384.92 549.20 Td (and ) Tj ET Q q 0 0 0 rg BT 400.02 549.20 Td (note ) Tj ET Q q 0 0 0 rg BT 417.28 549.20 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 458.35 549.20 Td (normally ) Tj ET Q q 0 0 0 rg BT 489.89 549.20 Td (included ) Tj ET Q q 0 0 0 rg BT 521.02 549.20 Td (in ) Tj ET Q q 0 0 0 rg BT 529.18 549.20 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 537.80 Td (annual ) Tj ET Q q 0 0 0 rg BT 98.04 537.80 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 144.44 537.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 175.68 537.80 Td (statements ) Tj ET Q q 0 0 0 rg BT 216.44 537.80 Td (prepared ) Tj ET Q q 0 0 0 rg BT 250.27 537.80 Td (in ) Tj ET Q q 0 0 0 rg BT 258.98 537.80 Td (accordance ) Tj ET Q q 0 0 0 rg BT 301.91 537.80 Td (with ) Tj ET Q q 0 0 0 rg BT 318.41 537.80 Td (International ) Tj ET Q q 0 0 0 rg BT 363.94 537.80 Td (Financial ) Tj ET Q q 0 0 0 rg BT 397.77 537.80 Td (Reporting ) Tj ET Q q 0 0 0 rg BT 434.19 537.80 Td (Standards ) Tj ET Q q 0 0 0 rg BT 472.36 537.80 Td (\(IFRS\) ) Tj ET Q q 0 0 0 rg BT 503.12 537.80 Td (have ) Tj ET Q q 0 0 0 rg BT 522.67 537.80 Td (been ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 526.40 Td (omitted ) Tj ET Q q 0 0 0 rg BT 98.75 526.40 Td (or ) Tj ET Q q 0 0 0 rg BT 106.87 526.40 Td (condensed. ) Tj ET Q q 0 0 0 rg BT 148.12 526.40 Td (As ) Tj ET Q q 0 0 0 rg BT 158.41 526.40 Td (a ) Tj ET Q q 0 0 0 rg BT 163.93 526.40 Td (result, ) Tj ET Q q 0 0 0 rg BT 186.35 526.40 Td (these ) Tj ET Q q 0 0 0 rg BT 206.61 526.40 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 251.55 526.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 281.33 526.40 Td (statements ) Tj ET Q q 0 0 0 rg BT 320.64 526.40 Td (should ) Tj ET Q q 0 0 0 rg BT 344.79 526.40 Td (be ) Tj ET Q q 0 0 0 rg BT 354.65 526.40 Td (read ) Tj ET Q q 0 0 0 rg BT 371.44 526.40 Td (in ) Tj ET Q q 0 0 0 rg BT 378.70 526.40 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 419.31 526.40 Td (with ) Tj ET Q q 0 0 0 rg BT 434.36 526.40 Td (the ) Tj ET Q q 0 0 0 rg BT 446.39 526.40 Td (REIT) Tj ET Q q 0 0 0 rg BT 465.73 526.40 Td (s ) Tj ET Q q 0 0 0 rg BT 470.82 526.40 Td (audited ) Tj ET Q q 0 0 0 rg BT 497.58 526.40 Td (comparative ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 515.00 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 117.91 515.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 148.67 515.00 Td (statements ) Tj ET Q q 0 0 0 rg BT 188.94 515.00 Td (as ) Tj ET Q q 0 0 0 rg BT 199.34 515.00 Td (at ) Tj ET Q q 0 0 0 rg BT 208.01 515.00 Td (and ) Tj ET Q q 0 0 0 rg BT 223.17 515.00 Td (for ) Tj ET Q q 0 0 0 rg BT 234.43 515.00 Td (the ) Tj ET Q q 0 0 0 rg BT 247.43 515.00 Td (year ) Tj ET Q q 0 0 0 rg BT 264.75 515.00 Td (ended ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 288.58 515.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 339.67 515.00 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 357.00 515.00 Td ( ) Tj ET Q q 0 0 0 rg BT 359.17 515.00 Td (\(the ) Tj ET Q q 0 0 0 rg BT 374.76 515.00 Td (annual ) Tj ET Q q 0 0 0 rg BT 402.91 515.00 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 448.83 515.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 479.58 515.00 Td (statements\).) 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Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 72.00 381.80 Td (iv) Tj ET Q q 0 0 0 rg BT 76.92 381.80 Td (. ) Tj ET Q q 0 0 0 rg BT 81.25 381.80 Td ( ) Tj ET Q q 0 0 0 rg BT 83.42 381.80 Td ( ) Tj ET Q q 0 0 0 rg BT 85.59 381.80 Td (Functional ) Tj ET Q q 0 0 0 rg BT 123.70 381.80 Td (and ) Tj ET Q q 0 0 0 rg BT 138.86 381.80 Td (presentation ) Tj ET Q q 0 0 0 rg BT 183.91 381.80 Td (currency) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 364.40 Td (These ) Tj ET Q q 0 0 0 rg BT 96.33 364.40 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 142.75 364.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 174.01 364.40 Td (statements ) Tj ET Q q 0 0 0 rg BT 214.79 364.40 Td (are ) Tj ET Q q 0 0 0 rg BT 228.72 364.40 Td (presented ) Tj ET Q q 0 0 0 rg BT 266.05 364.40 Td (in ) Tj ET Q q 0 0 0 rg BT 274.78 364.40 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 310.81 364.40 Td (dollars, ) Tj ET Q q 0 0 0 rg BT 338.59 364.40 Td (which ) Tj ET Q q 0 0 0 rg BT 361.18 364.40 Td (is ) Tj ET Q q 0 0 0 rg BT 369.48 364.40 Td (the ) Tj ET Q q 0 0 0 rg BT 382.99 364.40 Td (REIT) Tj ET Q q 0 0 0 rg BT 402.32 364.40 Td (s ) Tj ET Q q 0 0 0 rg BT 408.89 364.40 Td (functional ) Tj ET Q q 0 0 0 rg BT 444.92 364.40 Td (currency ) Tj ET Q q 0 0 0 rg BT 477.47 364.40 Td (and ) Tj ET Q q 0 0 0 rg BT 493.14 364.40 Td (the ) Tj ET Q q 0 0 0 rg BT 506.64 364.40 Td (functional ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 353.00 Td (currency ) Tj ET Q q 0 0 0 rg BT 104.04 353.00 Td (of ) Tj ET Q q 0 0 0 rg BT 112.71 353.00 Td (all ) Tj ET Q q 0 0 0 rg BT 122.67 353.00 Td (of ) Tj ET Q q 0 0 0 rg BT 131.33 353.00 Td (its ) Tj ET Q q 0 0 0 rg BT 141.29 353.00 Td (subsidiaries.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 335.60 Td (v) Tj ET Q q 0 0 0 rg BT 75.33 335.60 Td (. ) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 79.66 335.60 Td (Use ) Tj ET Q q 0 0 0 rg BT 95.68 335.60 Td (of ) Tj ET Q q 0 0 0 rg BT 104.34 335.60 Td (estimates ) Tj ET Q q 0 0 0 rg BT 139.85 335.60 Td (and ) Tj ET Q q 0 0 0 rg BT 155.02 335.60 Td (judgments) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 318.20 Td (The ) Tj ET Q q 0 0 0 rg BT 87.18 318.20 Td (preparation ) Tj ET Q q 0 0 0 rg BT 128.35 318.20 Td (of ) Tj ET Q q 0 0 0 rg BT 136.61 318.20 Td (the ) Tj ET Q q 0 0 0 rg BT 149.20 318.20 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 194.70 318.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 225.04 318.20 Td (statements ) Tj ET Q q 0 0 0 rg BT 264.91 318.20 Td (requires ) Tj ET Q q 0 0 0 rg BT 294.81 318.20 Td (management ) Tj ET Q q 0 0 0 rg BT 342.04 318.20 Td (to ) Tj ET Q q 0 0 0 rg BT 350.30 318.20 Td (make ) Tj ET Q q 0 0 0 rg BT 371.11 318.20 Td (judgments, ) Tj ET Q q 0 0 0 rg BT 410.98 318.20 Td (estimates ) Tj ET Q q 0 0 0 rg BT 446.08 318.20 Td (and ) Tj ET Q q 0 0 0 rg BT 460.83 318.20 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 506.33 318.20 Td (that ) Tj ET Q q 0 0 0 rg BT 521.09 318.20 Td (af) Tj ET Q q 0 0 0 rg BT 527.45 318.20 Td (fect ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 306.80 Td (the ) Tj ET Q q 0 0 0 rg BT 84.58 306.80 Td (application ) Tj ET Q q 0 0 0 rg BT 123.57 306.80 Td (of ) Tj ET Q q 0 0 0 rg BT 131.82 306.80 Td (accounting ) Tj ET Q q 0 0 0 rg BT 171.25 306.80 Td (policies ) Tj ET Q q 0 0 0 rg BT 198.98 306.80 Td (and ) Tj ET Q q 0 0 0 rg BT 213.72 306.80 Td (the ) Tj ET Q q 0 0 0 rg BT 226.30 306.80 Td (reported ) Tj ET Q q 0 0 0 rg BT 257.06 306.80 Td (amounts ) Tj ET Q q 0 0 0 rg BT 288.69 306.80 Td (of ) Tj ET Q q 0 0 0 rg BT 296.93 306.80 Td (assets, ) Tj ET Q q 0 0 0 rg BT 323.36 306.80 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 356.72 306.80 Td (revenues ) Tj ET Q q 0 0 0 rg BT 390.51 306.80 Td (and ) Tj ET Q q 0 0 0 rg BT 405.26 306.80 Td (expenses ) Tj ET Q q 0 0 0 rg BT 440.35 306.80 Td (and ) Tj ET Q q 0 0 0 rg BT 455.10 306.80 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 495.81 306.80 Td (of ) Tj ET Q q 0 0 0 rg BT 504.06 306.80 Td (contingent ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 295.40 Td (assets ) Tj ET Q q 0 0 0 rg BT 96.69 295.40 Td (and ) Tj ET Q q 0 0 0 rg BT 111.85 295.40 Td (liabilities. ) Tj ET Q q 0 0 0 rg BT 145.20 295.40 Td (Actual ) Tj ET Q q 0 0 0 rg BT 169.02 295.40 Td (results ) Tj ET Q q 0 0 0 rg BT 194.14 295.40 Td (could ) Tj ET Q q 0 0 0 rg BT 214.93 295.40 Td (dif) Tj ET Q q 0 0 0 rg BT 223.02 295.40 Td (fer ) Tj ET Q q 0 0 0 rg BT 234.28 295.40 Td (from ) Tj ET Q q 0 0 0 rg BT 252.03 295.40 Td (the ) Tj ET Q q 0 0 0 rg BT 265.03 295.40 Td (estimated ) Tj ET Q q 0 0 0 rg BT 300.97 295.40 Td (amounts.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 278.00 Td (The ) Tj ET Q q 0 0 0 rg BT 88.82 278.00 Td (critical ) Tj ET Q q 0 0 0 rg BT 114.29 278.00 Td (judgments ) Tj ET Q q 0 0 0 rg BT 153.62 278.00 Td (made ) Tj ET Q q 0 0 0 rg BT 176.50 278.00 Td (by ) Tj ET Q q 0 0 0 rg BT 188.12 278.00 Td (management ) Tj ET Q q 0 0 0 rg BT 236.99 278.00 Td (in ) Tj ET Q q 0 0 0 rg BT 246.44 278.00 Td (the ) Tj ET Q q 0 0 0 rg BT 260.67 278.00 Td (process ) Tj ET Q q 0 0 0 rg BT 291.34 278.00 Td (of ) Tj ET Q q 0 0 0 rg BT 301.23 278.00 Td (applying ) Tj ET Q q 0 0 0 rg BT 333.64 278.00 Td (the ) Tj ET Q q 0 0 0 rg BT 347.87 278.00 Td (REIT) Tj ET Q q 0 0 0 rg BT 367.21 278.00 Td (s ) Tj ET Q q 0 0 0 rg BT 374.49 278.00 Td (accounting ) Tj ET Q q 0 0 0 rg BT 415.57 278.00 Td (policies, ) Tj ET Q q 0 0 0 rg BT 447.11 278.00 Td (apart ) Tj ET Q q 0 0 0 rg BT 468.26 278.00 Td (from ) Tj ET Q q 0 0 0 rg BT 487.24 278.00 Td (those ) Tj ET Q q 0 0 0 rg BT 509.69 278.00 Td (involving ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 266.60 Td (estimations, ) Tj ET Q q 0 0 0 rg BT 115.63 266.60 Td (that ) Tj ET Q q 0 0 0 rg BT 130.69 266.60 Td (have ) Tj ET Q q 0 0 0 rg BT 149.64 266.60 Td (the ) Tj ET Q q 0 0 0 rg BT 162.53 266.60 Td (most ) Tj ET Q q 0 0 0 rg BT 181.48 266.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 218.18 266.60 Td (ef) Tj ET Q q 0 0 0 rg BT 224.55 266.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 239.17 266.60 Td (on ) Tj ET Q q 0 0 0 rg BT 249.89 266.60 Td (the ) Tj ET Q q 0 0 0 rg BT 262.78 266.60 Td (reported ) Tj ET Q q 0 0 0 rg BT 293.85 266.60 Td (amounts ) Tj ET Q q 0 0 0 rg BT 325.80 266.60 Td (of ) Tj ET Q q 0 0 0 rg BT 334.35 266.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 358.93 266.60 Td (and ) Tj ET Q q 0 0 0 rg BT 373.99 266.60 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 405.49 266.60 Td (at ) Tj ET Q q 0 0 0 rg BT 414.05 266.60 Td (the ) Tj ET Q q 0 0 0 rg BT 426.94 266.60 Td (date ) Tj ET Q q 0 0 0 rg BT 444.16 266.60 Td (of ) Tj ET Q q 0 0 0 rg BT 452.72 266.60 Td (the ) Tj ET Q q 0 0 0 rg BT 465.61 266.60 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 511.42 266.60 Td (financial ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 255.20 Td (statements ) Tj ET Q q 0 0 0 rg BT 112.28 255.20 Td (and ) Tj ET Q q 0 0 0 rg BT 127.44 255.20 Td (the ) Tj ET Q q 0 0 0 rg BT 140.44 255.20 Td (reported ) Tj ET Q q 0 0 0 rg BT 171.62 255.20 Td (amounts ) Tj ET Q q 0 0 0 rg BT 203.67 255.20 Td (of ) Tj ET Q q 0 0 0 rg BT 212.34 255.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 246.55 255.20 Td (and ) Tj ET Q q 0 0 0 rg BT 261.72 255.20 Td (expenses ) Tj ET Q q 0 0 0 rg BT 297.24 255.20 Td (during ) Tj ET Q q 0 0 0 rg BT 321.06 255.20 Td (the ) Tj ET Q q 0 0 0 rg BT 334.05 255.20 Td (period ) Tj ET Q q 0 0 0 rg BT 357.87 255.20 Td (are ) Tj ET Q q 0 0 0 rg BT 371.30 255.20 Td (as ) Tj ET Q q 0 0 0 rg BT 381.69 255.20 Td (follows: ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 237.80 Td (Business ) Tj ET Q q 0 0 0 rg BT 105.78 237.80 Td (combinations) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 220.40 Td (The ) Tj ET Q q 0 0 0 rg BT 87.07 220.40 Td (REIT) Tj ET Q q 0 0 0 rg BT 104.68 220.40 Td ( ) Tj ET Q q 0 0 0 rg BT 106.33 220.40 Td (makes ) Tj ET Q q 0 0 0 rg BT 130.92 220.40 Td (certain ) Tj ET Q q 0 0 0 rg BT 155.95 220.40 Td (judgments ) Tj ET Q q 0 0 0 rg BT 193.54 220.40 Td (based ) Tj ET Q q 0 0 0 rg BT 216.41 220.40 Td (on ) Tj ET Q q 0 0 0 rg BT 226.72 220.40 Td (relevant ) Tj ET Q q 0 0 0 rg BT 256.09 220.40 Td (facts ) Tj ET Q q 0 0 0 rg BT 274.19 220.40 Td (and ) Tj ET Q q 0 0 0 rg BT 288.84 220.40 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 340.27 220.40 Td (to ) Tj ET Q q 0 0 0 rg BT 348.42 220.40 Td (determine ) Tj ET Q q 0 0 0 rg BT 384.71 220.40 Td (whether ) Tj ET Q q 0 0 0 rg BT 414.07 220.40 Td (a ) Tj ET Q q 0 0 0 rg BT 420.04 220.40 Td (set ) Tj ET Q q 0 0 0 rg BT 432.09 220.40 Td (of ) Tj ET Q q 0 0 0 rg BT 440.23 220.40 Td (assets ) Tj ET Q q 0 0 0 rg BT 464.40 220.40 Td (acquired ) Tj ET Q q 0 0 0 rg BT 495.93 220.40 Td (and ) Tj ET Q q 0 0 0 rg BT 510.57 220.40 Td (liabilities ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 209.00 Td (assumed ) Tj ET Q q 0 0 0 rg BT 107.34 209.00 Td (constitute ) Tj ET Q q 0 0 0 rg BT 144.43 209.00 Td (a ) Tj ET Q q 0 0 0 rg BT 152.49 209.00 Td (business ) Tj ET Q q 0 0 0 rg BT 186.97 209.00 Td (accounted ) Tj ET Q q 0 0 0 rg BT 226.66 209.00 Td (for ) Tj ET Q q 0 0 0 rg BT 239.48 209.00 Td (as ) Tj ET Q q 0 0 0 rg BT 251.44 209.00 Td (a ) Tj ET Q q 0 0 0 rg BT 259.51 209.00 Td (business ) Tj ET Q q 0 0 0 rg BT 293.99 209.00 Td (combination. ) Tj ET Q q 0 0 0 rg BT 341.66 209.00 Td (There ) Tj ET Q q 0 0 0 rg BT 365.75 209.00 Td (REIT) Tj ET Q q 0 0 0 rg BT 383.35 209.00 Td ( ) Tj ET Q q 0 0 0 rg BT 387.09 209.00 Td (has ) Tj ET Q q 0 0 0 rg BT 403.38 209.00 Td (no ) Tj ET Q q 0 0 0 rg BT 415.78 209.00 Td (transactions ) Tj ET Q q 0 0 0 rg BT 461.52 209.00 Td (classified ) Tj ET Q q 0 0 0 rg BT 497.29 209.00 Td (as ) Tj ET Q q 0 0 0 rg BT 509.25 209.00 Td (business ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 197.60 Td (combinations ) Tj ET Q q 0 0 0 rg BT 120.07 197.60 Td (in ) Tj ET Q q 0 0 0 rg BT 128.30 197.60 Td (the ) Tj ET Q q 0 0 0 rg BT 141.30 197.60 Td (period.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 180.20 Td (Leases) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 162.80 Td (The ) Tj ET Q q 0 0 0 rg BT 87.27 162.80 Td (REIT) Tj ET Q q 0 0 0 rg BT 104.88 162.80 Td ( ) Tj ET Q q 0 0 0 rg BT 106.73 162.80 Td (makes ) Tj ET Q q 0 0 0 rg BT 131.53 162.80 Td (judgments ) Tj ET Q q 0 0 0 rg BT 169.32 162.80 Td (in ) Tj ET Q q 0 0 0 rg BT 177.23 162.80 Td (determining ) Tj ET Q q 0 0 0 rg BT 219.78 162.80 Td (whether ) Tj ET Q q 0 0 0 rg BT 249.34 162.80 Td (certain ) Tj ET Q q 0 0 0 rg BT 274.58 162.80 Td (leases, ) Tj ET Q q 0 0 0 rg BT 301.11 162.80 Td (in ) Tj ET Q q 0 0 0 rg BT 309.02 162.80 Td (particular ) Tj ET Q q 0 0 0 rg BT 342.91 162.80 Td (those ) Tj ET Q q 0 0 0 rg BT 363.82 162.80 Td (leases ) Tj ET Q q 0 0 0 rg BT 388.19 162.80 Td (with ) Tj ET Q q 0 0 0 rg BT 403.89 162.80 Td (long ) Tj ET Q q 0 0 0 rg BT 420.47 162.80 Td (contractual ) Tj ET Q q 0 0 0 rg BT 460.43 162.80 Td (terms ) Tj ET Q q 0 0 0 rg BT 481.75 162.80 Td (where ) Tj ET Q q 0 0 0 rg BT 504.81 162.80 Td (the ) Tj ET Q q 0 0 0 rg BT 517.49 162.80 Td (lessee ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 151.40 Td (is ) Tj ET Q q 0 0 0 rg BT 79.79 151.40 Td (the ) Tj ET Q q 0 0 0 rg BT 92.79 151.40 Td (sole ) Tj ET Q q 0 0 0 rg BT 109.24 151.40 Td (tenant ) Tj ET Q q 0 0 0 rg BT 133.07 151.40 Td (in ) Tj ET Q q 0 0 0 rg BT 141.30 151.40 Td (a ) Tj ET Q q 0 0 0 rg BT 147.80 151.40 Td (property ) Tj ET Q q 0 0 0 rg BT 178.54 151.40 Td (and ) Tj ET Q q 0 0 0 rg BT 193.70 151.40 Td (long-term ) Tj ET Q q 0 0 0 rg BT 228.77 151.40 Td (ground ) Tj ET Q q 0 0 0 rg BT 255.19 151.40 Td (leases ) Tj ET Q q 0 0 0 rg BT 279.88 151.40 Td (where ) Tj ET Q q 0 0 0 rg BT 303.25 151.40 Td (the ) Tj ET Q q 0 0 0 rg BT 316.25 151.40 Td (REIT) Tj ET Q q 0 0 0 rg BT 333.86 151.40 Td ( ) Tj ET Q q 0 0 0 rg BT 336.02 151.40 Td (is ) Tj ET Q q 0 0 0 rg BT 343.81 151.40 Td (the ) Tj ET Q q 0 0 0 rg BT 356.81 151.40 Td (lessee, ) Tj ET Q q 0 0 0 rg BT 383.66 151.40 Td (are ) Tj ET Q q 0 0 0 rg BT 397.09 151.40 Td (operating ) Tj ET Q q 0 0 0 rg BT 431.74 151.40 Td (or ) Tj ET Q q 0 0 0 rg BT 440.83 151.40 Td (finance ) Tj ET Q q 0 0 0 rg BT 468.11 151.40 Td (leases. ) Tj ET Q q 0 0 0 rg BT 494.54 151.40 Td (Assets ) Tj ET Q q 0 0 0 rg BT 520.09 151.40 Td (under ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 140.00 Td (leases ) Tj ET Q q 0 0 0 rg BT 96.35 140.00 Td (that ) Tj ET Q q 0 0 0 rg BT 111.18 140.00 Td (transfer ) Tj ET Q q 0 0 0 rg BT 139.42 140.00 Td (to ) Tj ET Q q 0 0 0 rg BT 147.75 140.00 Td (the ) Tj ET Q q 0 0 0 rg BT 160.41 140.00 Td (tenant ) Tj ET Q q 0 0 0 rg BT 183.90 140.00 Td (substantially ) Tj ET Q q 0 0 0 rg BT 228.61 140.00 Td (all ) Tj ET Q q 0 0 0 rg BT 238.23 140.00 Td (of ) Tj ET Q q 0 0 0 rg BT 246.56 140.00 Td (the ) Tj ET Q q 0 0 0 rg BT 259.22 140.00 Td (risks ) Tj ET Q q 0 0 0 rg BT 277.06 140.00 Td (and ) Tj ET Q q 0 0 0 rg BT 291.89 140.00 Td (rewards ) Tj ET Q q 0 0 0 rg BT 321.42 140.00 Td (of ) Tj ET Q q 0 0 0 rg BT 329.75 140.00 Td (ownership ) Tj ET Q q 0 0 0 rg BT 367.08 140.00 Td (are ) Tj ET Q q 0 0 0 rg BT 380.17 140.00 Td (classified ) Tj ET Q q 0 0 0 rg BT 414.04 140.00 Td (as ) Tj ET Q q 0 0 0 rg BT 424.10 140.00 Td (finance ) Tj ET Q q 0 0 0 rg BT 451.05 140.00 Td (leases. ) Tj ET Q q 0 0 0 rg BT 477.46 140.00 Td (The ) Tj ET Q q 0 0 0 rg BT 492.71 140.00 Td (leased ) Tj ET Q q 0 0 0 rg BT 517.50 140.00 Td (assets ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 128.60 Td (are ) Tj ET Q q 0 0 0 rg BT 85.62 128.60 Td (measured ) Tj ET Q q 0 0 0 rg BT 122.62 128.60 Td (initially ) Tj ET Q q 0 0 0 rg BT 148.36 128.60 Td (at ) Tj ET Q q 0 0 0 rg BT 157.22 128.60 Td (an ) Tj ET Q q 0 0 0 rg BT 168.24 128.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 196.58 128.60 Td (equal ) Tj ET Q q 0 0 0 rg BT 218.00 128.60 Td ( ) Tj ET Q q 0 0 0 rg BT 220.36 128.60 Td (to ) Tj ET Q q 0 0 0 rg BT 229.22 128.60 Td (the ) Tj ET Q q 0 0 0 rg BT 242.41 128.60 Td (lower ) Tj ET Q q 0 0 0 rg BT 263.38 128.60 Td (of ) Tj ET Q q 0 0 0 rg BT 272.24 128.60 Td (their ) Tj ET Q q 0 0 0 rg BT 289.75 128.60 Td (fair ) Tj ET Q q 0 0 0 rg BT 302.93 128.60 Td (value ) Tj ET Q q 0 0 0 rg BT 323.92 128.60 Td (and ) Tj ET Q q 0 0 0 rg BT 339.27 128.60 Td (the ) Tj ET Q q 0 0 0 rg BT 352.46 128.60 Td (present ) Tj ET Q q 0 0 0 rg BT 380.81 128.60 Td (value ) Tj ET Q q 0 0 0 rg BT 401.79 128.60 Td (of ) Tj ET Q q 0 0 0 rg BT 410.65 128.60 Td (the ) Tj ET Q q 0 0 0 rg BT 423.84 128.60 Td (minimum ) Tj ET Q q 0 0 0 rg BT 457.80 128.60 Td (lease ) Tj ET Q q 0 0 0 rg BT 478.78 128.60 Td (payments. ) Tj ET Q q 0 0 0 rg BT 516.62 128.60 Td (Assets ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 117.20 Td (classified ) Tj ET Q q 0 0 0 rg BT 106.53 117.20 Td (as ) Tj ET Q q 0 0 0 rg BT 117.24 117.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 152.21 117.20 Td (leases ) Tj ET Q q 0 0 0 rg BT 177.22 117.20 Td (are ) Tj ET Q q 0 0 0 rg BT 190.96 117.20 Td (not ) Tj ET Q q 0 0 0 rg BT 204.28 117.20 Td (recognized ) Tj ET Q q 0 0 0 rg BT 244.88 117.20 Td (in ) Tj ET Q q 0 0 0 rg BT 253.42 117.20 Td (the ) Tj ET Q q 0 0 0 rg BT 266.74 117.20 Td (condensed ) Tj ET Q q 0 0 0 rg BT 307.35 117.20 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 353.58 117.20 Td (interim ) Tj ET Q q 0 0 0 rg BT 379.44 117.20 Td (statements ) Tj ET Q q 0 0 0 rg BT 420.04 117.20 Td (of ) Tj ET Q q 0 0 0 rg BT 429.02 117.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 460.09 117.20 Td (position. ) Tj ET Q q 0 0 0 rg BT 491.44 117.20 Td (The ) Tj ET Q q 0 0 0 rg BT 507.35 117.20 Td (REIT) Tj ET Q q 0 0 0 rg BT 524.96 117.20 Td ( ) Tj ET Q q 0 0 0 rg BT 527.44 117.20 Td (has ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 105.80 Td (determined ) Tj ET Q q 0 0 0 rg BT 113.14 105.80 Td (that ) Tj ET Q q 0 0 0 rg BT 128.31 105.80 Td (its ) Tj ET Q q 0 0 0 rg BT 138.27 105.80 Td (lease ) Tj ET Q q 0 0 0 rg BT 159.06 105.80 Td (for ) Tj ET Q q 0 0 0 rg BT 170.32 105.80 Td (the ) Tj ET Q q 0 0 0 rg BT 183.31 105.80 Td (Data ) Tj ET Q q 0 0 0 rg BT 201.93 105.80 Td (Centre ) Tj ET Q q 0 0 0 rg BT 227.48 105.80 Td (qualified ) Tj ET Q q 0 0 0 rg BT 258.67 105.80 Td (as ) Tj ET Q q 0 0 0 rg BT 269.06 105.80 Td (a ) Tj ET Q q 0 0 0 rg BT 275.56 105.80 Td (finance ) Tj ET Q q 0 0 0 rg BT 302.85 105.80 Td (lease.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 88.40 Td (Lease ) Tj ET Q q 0 0 0 rg BT 95.39 88.40 Td (incentives) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 71.00 Td (Lease ) Tj ET Q q 0 0 0 rg BT 94.81 71.00 Td (incentives ) Tj ET Q q 0 0 0 rg BT 131.03 71.00 Td (such ) Tj ET Q q 0 0 0 rg BT 149.07 71.00 Td (as ) Tj ET Q q 0 0 0 rg BT 158.88 71.00 Td (rent-free ) Tj ET Q q 0 0 0 rg BT 189.91 71.00 Td (periods ) Tj ET Q q 0 0 0 rg BT 217.04 71.00 Td (and ) Tj ET Q q 0 0 0 rg BT 231.62 71.00 Td (lessee ) Tj ET Q q 0 0 0 rg BT 255.72 71.00 Td (or ) Tj ET Q q 0 0 0 rg BT 264.22 71.00 Td (lessor ) Tj ET Q q 0 0 0 rg BT 286.59 71.00 Td (owned ) Tj ET Q q 0 0 0 rg BT 311.12 71.00 Td (improvements ) Tj ET Q q 0 0 0 rg BT 361.62 71.00 Td (may ) Tj ET Q q 0 0 0 rg BT 377.92 71.00 Td (be ) Tj ET Q q 0 0 0 rg BT 388.17 71.00 Td (provided ) Tj ET Q q 0 0 0 rg BT 419.63 71.00 Td (to ) Tj ET Q q 0 0 0 rg BT 427.71 71.00 Td (lessees ) Tj ET Q q 0 0 0 rg BT 455.71 71.00 Td (to ) Tj ET Q q 0 0 0 rg BT 463.79 71.00 Td (enter ) Tj ET Q q 0 0 0 rg BT 483.13 71.00 Td (into ) Tj ET Q q 0 0 0 rg BT 497.27 71.00 Td (an ) Tj ET Q q 0 0 0 rg BT 507.52 71.00 Td (operating ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 59.60 Td (lease. ) Tj ET Q q 0 0 0 rg BT 94.12 59.60 Td (Lease ) Tj ET Q q 0 0 0 rg BT 116.68 59.60 Td (incentives ) Tj ET Q q 0 0 0 rg BT 152.66 59.60 Td (that ) Tj ET Q q 0 0 0 rg BT 166.99 59.60 Td (do ) Tj ET Q q 0 0 0 rg BT 176.99 59.60 Td (not ) Tj ET Q q 0 0 0 rg BT 189.15 59.60 Td (provide ) Tj ET Q q 0 0 0 rg BT 216.03 59.60 Td (benefits ) Tj ET Q q 0 0 0 rg BT 244.66 59.60 Td (beyond ) Tj ET Q q 0 0 0 rg BT 271.55 59.60 Td (the ) Tj ET Q q 0 0 0 rg BT 283.71 59.60 Td (initial ) Tj ET Q q 0 0 0 rg BT 302.80 59.60 Td (lease ) Tj ET Q q 0 0 0 rg BT 322.75 59.60 Td (term ) Tj ET Q q 0 0 0 rg BT 339.67 59.60 Td (are ) Tj ET Q q 0 0 0 rg BT 352.26 59.60 Td (included ) Tj ET Q q 0 0 0 rg BT 382.61 59.60 Td (in ) Tj ET Q q 0 0 0 rg BT 390.00 59.60 Td (the ) Tj ET Q q 0 0 0 rg BT 402.17 59.60 Td (carrying ) Tj ET Q q 0 0 0 rg BT 431.21 59.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 458.53 59.60 Td (of ) Tj ET Q q 0 0 0 rg BT 466.36 59.60 Td (investment ) Tj ET Q q 0 0 0 rg BT 505.36 59.60 Td (properties ) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 303.30 42.95 Td (Page 7) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 695.10 Td (and ) Tj ET Q q 0 0 0 rg BT 87.93 695.10 Td (are ) Tj ET Q q 0 0 0 rg BT 102.13 695.10 Td (amortized ) Tj ET Q q 0 0 0 rg BT 139.27 695.10 Td (as ) Tj ET Q q 0 0 0 rg BT 150.43 695.10 Td (a ) Tj ET Q q 0 0 0 rg BT 157.70 695.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 192.68 695.10 Td (of ) Tj ET Q q 0 0 0 rg BT 202.11 695.10 Td (rental ) Tj ET Q q 0 0 0 rg BT 224.54 695.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 255.62 695.10 Td (on ) Tj ET Q q 0 0 0 rg BT 267.22 695.10 Td (a ) Tj ET Q q 0 0 0 rg BT 274.49 695.10 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 317.69 695.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 338.82 695.10 Td (over ) Tj ET Q q 0 0 0 rg BT 356.91 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 370.67 695.10 Td (term ) Tj ET Q q 0 0 0 rg BT 389.19 695.10 Td (of ) Tj ET Q q 0 0 0 rg BT 398.62 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 412.39 695.10 Td (lease. ) Tj ET Q q 0 0 0 rg BT 435.93 695.10 Td (This ) Tj ET Q q 0 0 0 rg BT 453.59 695.10 Td (assessment ) Tj ET Q q 0 0 0 rg BT 498.09 695.10 Td (requires ) Tj ET Q q 0 0 0 rg BT 529.17 695.10 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 683.70 Td (consideration ) Tj ET Q q 0 0 0 rg BT 120.14 683.70 Td (of ) Tj ET Q q 0 0 0 rg BT 128.44 683.70 Td (several ) Tj ET Q q 0 0 0 rg BT 155.36 683.70 Td (factors, ) Tj ET Q q 0 0 0 rg BT 182.71 683.70 Td (including ) Tj ET Q q 0 0 0 rg BT 215.26 683.70 Td (whether ) Tj ET Q q 0 0 0 rg BT 244.78 683.70 Td (the ) Tj ET Q q 0 0 0 rg BT 257.41 683.70 Td (incentives ) Tj ET Q q 0 0 0 rg BT 293.86 683.70 Td (enhance ) Tj ET Q q 0 0 0 rg BT 325.55 683.70 Td (the ) Tj ET Q q 0 0 0 rg BT 338.19 683.70 Td (value ) Tj ET Q q 0 0 0 rg BT 358.61 683.70 Td (of ) Tj ET Q q 0 0 0 rg BT 366.91 683.70 Td (the ) Tj ET Q q 0 0 0 rg BT 379.55 683.70 Td (property) Tj ET Q q 0 0 0 rg BT 407.56 683.70 Td (, ) Tj ET Q q 0 0 0 rg BT 411.52 683.70 Td (uniqueness ) Tj ET Q q 0 0 0 rg BT 453.18 683.70 Td (of ) Tj ET Q q 0 0 0 rg BT 461.48 683.70 Td (the ) Tj ET Q q 0 0 0 rg BT 474.11 683.70 Td (improvements, ) Tj ET Q q 0 0 0 rg BT 527.01 683.70 Td (and ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 672.30 Td (tenant ) Tj ET Q q 0 0 0 rg BT 95.83 672.30 Td (discretion ) Tj ET Q q 0 0 0 rg BT 131.34 672.30 Td (in ) Tj ET Q q 0 0 0 rg BT 139.57 672.30 Td (use ) Tj ET Q q 0 0 0 rg BT 154.30 672.30 Td (of ) Tj ET Q q 0 0 0 rg BT 162.96 672.30 Td (funds. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 654.90 Td (Income ) Tj ET Q q 0 0 0 rg BT 99.72 654.90 Td (taxes) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 637.50 Td (The ) Tj ET Q q 0 0 0 rg BT 87.70 637.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 105.31 637.50 Td ( ) Tj ET Q q 0 0 0 rg BT 107.59 637.50 Td (has ) Tj ET Q q 0 0 0 rg BT 122.42 637.50 Td (determined ) Tj ET Q q 0 0 0 rg BT 163.68 637.50 Td (that ) Tj ET Q q 0 0 0 rg BT 178.95 637.50 Td (it ) Tj ET Q q 0 0 0 rg BT 185.12 637.50 Td (is ) Tj ET Q q 0 0 0 rg BT 193.03 637.50 Td (not ) Tj ET Q q 0 0 0 rg BT 206.13 637.50 Td (subject ) Tj ET Q q 0 0 0 rg BT 233.10 637.50 Td (to ) Tj ET Q q 0 0 0 rg BT 241.87 637.50 Td (income ) Tj ET Q q 0 0 0 rg BT 269.26 637.50 Td (taxes ) Tj ET Q q 0 0 0 rg BT 290.17 637.50 Td (as ) Tj ET Q q 0 0 0 rg BT 300.67 637.50 Td (it ) Tj ET Q q 0 0 0 rg BT 306.84 637.50 Td (intends ) Tj ET Q q 0 0 0 rg BT 334.24 637.50 Td (to ) Tj ET Q q 0 0 0 rg BT 343.02 637.50 Td (continue ) Tj ET Q q 0 0 0 rg BT 374.75 637.50 Td (to ) Tj ET Q q 0 0 0 rg BT 383.53 637.50 Td (meet ) Tj ET Q q 0 0 0 rg BT 403.12 637.50 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 441.77 637.50 Td (conditions ) Tj ET Q q 0 0 0 rg BT 479.13 637.50 Td (under ) Tj ET Q q 0 0 0 rg BT 501.33 637.50 Td (the ) Tj ET Q q 0 0 0 rg BT 514.44 637.50 Td (Income ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 626.10 Td (T) Tj ET Q q 0 0 0 rg BT 75.90 626.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 86.30 626.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 100.27 626.10 Td (\(Canada\) ) Tj ET Q q 0 0 0 rg BT 135.45 626.10 Td (and ) Tj ET Q q 0 0 0 rg BT 151.15 626.10 Td (make ) Tj ET Q q 0 0 0 rg BT 172.91 626.10 Td (distributions ) Tj ET Q q 0 0 0 rg BT 217.19 626.10 Td (not ) Tj ET Q q 0 0 0 rg BT 230.73 626.10 Td (less ) Tj ET Q q 0 0 0 rg BT 247.30 626.10 Td (than ) Tj ET Q q 0 0 0 rg BT 265.17 626.10 Td (the ) Tj ET Q q 0 0 0 rg BT 278.71 626.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 307.40 626.10 Td (necessary ) Tj ET Q q 0 0 0 rg BT 345.62 626.10 Td (to ) Tj ET Q q 0 0 0 rg BT 354.83 626.10 Td (ensure ) Tj ET Q q 0 0 0 rg BT 381.35 626.10 Td (that ) Tj ET Q q 0 0 0 rg BT 397.06 626.10 Td (it ) Tj ET Q q 0 0 0 rg BT 403.66 626.10 Td (is ) Tj ET Q q 0 0 0 rg BT 412.00 626.10 Td (not ) Tj ET Q q 0 0 0 rg BT 425.54 626.10 Td (liable ) Tj ET Q q 0 0 0 rg BT 446.44 626.10 Td (to ) Tj ET Q q 0 0 0 rg BT 455.64 626.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 470.91 626.10 Td (income ) Tj ET Q q 0 0 0 rg BT 498.73 626.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 520.07 626.10 Td (under ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 614.70 Td (current ) Tj ET Q q 0 0 0 rg BT 98.41 614.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 110.98 614.70 Td (legislation. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 597.30 Td (Assets ) Tj ET Q q 0 0 0 rg BT 97.55 597.30 Td (and ) Tj ET Q q 0 0 0 rg BT 112.71 597.30 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 144.32 597.30 Td (held ) Tj ET Q q 0 0 0 rg BT 161.22 597.30 Td (for ) Tj ET Q q 0 0 0 rg BT 172.48 597.30 Td (sale) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 579.90 Td (The ) Tj ET Q q 0 0 0 rg BT 87.39 579.90 Td (REIT) Tj ET Q q 0 0 0 rg BT 104.99 579.90 Td ( ) Tj ET Q q 0 0 0 rg BT 106.96 579.90 Td (makes ) Tj ET Q q 0 0 0 rg BT 131.87 579.90 Td (judgments ) Tj ET Q q 0 0 0 rg BT 169.77 579.90 Td (in ) Tj ET Q q 0 0 0 rg BT 177.80 579.90 Td (determining ) Tj ET Q q 0 0 0 rg BT 220.46 579.90 Td (whether ) Tj ET Q q 0 0 0 rg BT 250.14 579.90 Td (certain ) Tj ET Q q 0 0 0 rg BT 275.48 579.90 Td (non-current ) Tj ET Q q 0 0 0 rg BT 317.28 579.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 341.76 579.90 Td (or ) Tj ET Q q 0 0 0 rg BT 350.65 579.90 Td (group ) Tj ET Q q 0 0 0 rg BT 372.54 579.90 Td (of ) Tj ET Q q 0 0 0 rg BT 381.00 579.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 405.48 579.90 Td (and ) Tj ET Q q 0 0 0 rg BT 420.44 579.90 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 451.84 579.90 Td (meet ) Tj ET Q q 0 0 0 rg BT 471.13 579.90 Td (the ) Tj ET Q q 0 0 0 rg BT 483.92 579.90 Td (specified ) Tj ET Q q 0 0 0 rg BT 516.63 579.90 Td (criteria ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 568.50 Td (under ) Tj ET Q q 0 0 0 rg BT 93.78 568.50 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 113.38 568.50 Td (for ) Tj ET Q q 0 0 0 rg BT 124.33 568.50 Td (classification ) Tj ET Q q 0 0 0 rg BT 170.35 568.50 Td (as ) Tj ET Q q 0 0 0 rg BT 180.44 568.50 Td (held ) Tj ET Q q 0 0 0 rg BT 197.02 568.50 Td (for ) Tj ET Q q 0 0 0 rg BT 207.97 568.50 Td (sale. ) Tj ET Q q 0 0 0 rg BT 225.92 568.50 Td (As ) Tj ET Q q 0 0 0 rg BT 236.86 568.50 Td (at ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 245.22 568.50 Td (March31, ) Tj ET Q q 0 0 0 rg BT 281.72 568.50 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 299.05 568.50 Td (, ) Tj ET Q q 0 0 0 rg BT 303.07 568.50 Td (the ) Tj ET Q q 0 0 0 rg BT 315.75 568.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 333.36 568.50 Td ( ) Tj ET Q q 0 0 0 rg BT 335.22 568.50 Td (has ) Tj ET Q q 0 0 0 rg BT 349.64 568.50 Td (determined ) Tj ET Q q 0 0 0 rg BT 390.47 568.50 Td (that ) Tj ET Q q 0 0 0 rg BT 405.32 568.50 Td (there ) Tj ET Q q 0 0 0 rg BT 424.93 568.50 Td (were ) Tj ET Q q 0 0 0 rg BT 443.67 568.50 Td (no ) Tj ET Q q 0 0 0 rg BT 454.19 568.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 478.57 568.50 Td (or ) Tj ET Q q 0 0 0 rg BT 487.35 568.50 Td (group ) Tj ET Q q 0 0 0 rg BT 509.13 568.50 Td (of ) Tj ET Q q 0 0 0 rg BT 517.48 568.50 Td (assets ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 557.10 Td (and ) Tj ET Q q 0 0 0 rg BT 87.16 557.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 118.77 557.10 Td (that ) Tj ET Q q 0 0 0 rg BT 133.94 557.10 Td (met ) Tj ET Q q 0 0 0 rg BT 149.09 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 162.09 557.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 195.01 557.10 Td (criteria. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 539.70 Td (The ) Tj ET Q q 0 0 0 rg BT 87.36 539.70 Td (key ) Tj ET Q q 0 0 0 rg BT 101.43 539.70 Td (estimates ) Tj ET Q q 0 0 0 rg BT 136.71 539.70 Td (and ) Tj ET Q q 0 0 0 rg BT 151.65 539.70 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 197.33 539.70 Td (made ) Tj ET Q q 0 0 0 rg BT 218.76 539.70 Td (by ) Tj ET Q q 0 0 0 rg BT 228.93 539.70 Td (management ) Tj ET Q q 0 0 0 rg BT 276.34 539.70 Td (about ) Tj ET Q q 0 0 0 rg BT 297.78 539.70 Td (the ) Tj ET Q q 0 0 0 rg BT 310.55 539.70 Td (future ) Tj ET Q q 0 0 0 rg BT 332.41 539.70 Td (and ) Tj ET Q q 0 0 0 rg BT 347.35 539.70 Td (other ) Tj ET Q q 0 0 0 rg BT 367.05 539.70 Td (major ) Tj ET Q q 0 0 0 rg BT 388.46 539.70 Td (sources ) Tj ET Q q 0 0 0 rg BT 417.68 539.70 Td (of ) Tj ET Q q 0 0 0 rg BT 426.12 539.70 Td (estimation ) Tj ET Q q 0 0 0 rg BT 463.57 539.70 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 503.63 539.70 Td (at ) Tj ET Q q 0 0 0 rg BT 512.06 539.70 Td (the ) Tj ET Q q 0 0 0 rg BT 524.84 539.70 Td (date ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 528.30 Td (of ) Tj ET Q q 0 0 0 rg BT 80.55 528.30 Td (the ) Tj ET Q q 0 0 0 rg BT 93.44 528.30 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 139.24 528.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 169.88 528.30 Td (statements ) Tj ET Q q 0 0 0 rg BT 210.05 528.30 Td (that ) Tj ET Q q 0 0 0 rg BT 225.10 528.30 Td (have ) Tj ET Q q 0 0 0 rg BT 244.05 528.30 Td (a ) Tj ET Q q 0 0 0 rg BT 250.43 528.30 Td (significant ) Tj ET Q q 0 0 0 rg BT 287.14 528.30 Td (risk ) Tj ET Q q 0 0 0 rg BT 301.31 528.30 Td (of ) Tj ET Q q 0 0 0 rg BT 309.86 528.30 Td (resulting ) Tj ET Q q 0 0 0 rg BT 341.36 528.30 Td (in ) Tj ET Q q 0 0 0 rg BT 349.48 528.30 Td (a ) Tj ET Q q 0 0 0 rg BT 355.86 528.30 Td (material ) Tj ET Q q 0 0 0 rg BT 385.63 528.30 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 425.79 528.30 Td (to ) Tj ET Q q 0 0 0 rg BT 434.35 528.30 Td (the ) Tj ET Q q 0 0 0 rg BT 447.23 528.30 Td (carrying ) Tj ET Q q 0 0 0 rg BT 476.99 528.30 Td (amounts ) Tj ET Q q 0 0 0 rg BT 508.93 528.30 Td (of ) Tj ET Q q 0 0 0 rg BT 517.48 528.30 Td (assets ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 516.90 Td (within ) Tj ET Q q 0 0 0 rg BT 94.08 516.90 Td (the ) Tj ET Q q 0 0 0 rg BT 107.08 516.90 Td (next ) Tj ET Q q 0 0 0 rg BT 123.97 516.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 154.72 516.90 Td (year ) Tj ET Q q 0 0 0 rg BT 172.05 516.90 Td (are ) Tj ET Q q 0 0 0 rg BT 185.47 516.90 Td (as ) Tj ET Q q 0 0 0 rg BT 195.87 516.90 Td (follows:) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 499.50 Td (V) Tj ET Q q 0 0 0 rg BT 76.63 499.50 Td (aluation ) Tj ET Q q 0 0 0 rg BT 106.08 499.50 Td (of ) Tj ET Q q 0 0 0 rg BT 114.75 499.50 Td (investment ) Tj ET Q q 0 0 0 rg BT 154.59 499.50 Td (properties) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 482.10 Td (The ) Tj ET Q q 0 0 0 rg BT 87.06 482.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 99.51 482.10 Td (values ) Tj ET Q q 0 0 0 rg BT 123.67 482.10 Td (of ) Tj ET Q q 0 0 0 rg BT 131.80 482.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 171.11 482.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 207.39 482.10 Td (are ) Tj ET Q q 0 0 0 rg BT 220.28 482.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 260.89 482.10 Td (by ) Tj ET Q q 0 0 0 rg BT 270.75 482.10 Td (management ) Tj ET Q q 0 0 0 rg BT 317.85 482.10 Td (using ) Tj ET Q q 0 0 0 rg BT 338.11 482.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 377.86 482.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 410.68 482.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 450.00 482.10 Td (with ) Tj ET Q q 0 0 0 rg BT 465.48 482.10 Td (a ) Tj ET Q q 0 0 0 rg BT 471.45 482.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 496.90 482.10 Td (of ) Tj ET Q q 0 0 0 rg BT 505.03 482.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 517.49 482.10 Td (values ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 470.70 Td (supported ) Tj ET Q q 0 0 0 rg BT 109.41 470.70 Td (by ) Tj ET Q q 0 0 0 rg BT 120.40 470.70 Td (externally ) Tj ET Q q 0 0 0 rg BT 156.51 470.70 Td (qualified ) Tj ET Q q 0 0 0 rg BT 188.29 470.70 Td (third ) Tj ET Q q 0 0 0 rg BT 206.21 470.70 Td (party ) Tj ET Q q 0 0 0 rg BT 226.29 470.70 Td (appraisers. ) Tj ET Q q 0 0 0 rg BT 267.42 470.70 Td (The ) Tj ET Q q 0 0 0 rg BT 283.61 470.70 Td (critical ) Tj ET Q q 0 0 0 rg BT 308.45 470.70 Td (estimates ) Tj ET Q q 0 0 0 rg BT 344.56 470.70 Td (and ) Tj ET Q q 0 0 0 rg BT 360.31 470.70 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 406.82 470.70 Td (underlying ) Tj ET Q q 0 0 0 rg BT 445.52 470.70 Td (the ) Tj ET Q q 0 0 0 rg BT 459.12 470.70 Td (valuation ) Tj ET Q q 0 0 0 rg BT 493.07 470.70 Td (of ) Tj ET Q q 0 0 0 rg BT 502.33 470.70 Td (investment ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 459.30 Td (properties ) Tj ET Q q 0 0 0 rg BT 108.53 459.30 Td (include, ) Tj ET Q q 0 0 0 rg BT 137.27 459.30 Td (among ) Tj ET Q q 0 0 0 rg BT 162.97 459.30 Td (other ) Tj ET Q q 0 0 0 rg BT 182.61 459.30 Td (things, ) Tj ET Q q 0 0 0 rg BT 207.45 459.30 Td (rental ) Tj ET Q q 0 0 0 rg BT 228.82 459.30 Td (revenue ) Tj ET Q q 0 0 0 rg BT 258.86 459.30 Td (from ) Tj ET Q q 0 0 0 rg BT 276.33 459.30 Td (current ) Tj ET Q q 0 0 0 rg BT 302.46 459.30 Td (leases, ) Tj ET Q q 0 0 0 rg BT 329.03 459.30 Td (rental ) Tj ET Q q 0 0 0 rg BT 350.40 459.30 Td (revenue ) Tj ET Q q 0 0 0 rg BT 380.44 459.30 Td (from ) Tj ET Q q 0 0 0 rg BT 397.91 459.30 Td (future ) Tj ET Q q 0 0 0 rg BT 419.71 459.30 Td (leases ) Tj ET Q q 0 0 0 rg BT 444.12 459.30 Td (in ) Tj ET Q q 0 0 0 rg BT 452.07 459.30 Td (light ) Tj ET Q q 0 0 0 rg BT 468.24 459.30 Td (of ) Tj ET Q q 0 0 0 rg BT 476.63 459.30 Td (current ) Tj ET Q q 0 0 0 rg BT 502.76 459.30 Td (conditions, ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 447.90 Td (future ) Tj ET Q q 0 0 0 rg BT 93.94 447.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 112.40 447.90 Td (outflows ) Tj ET Q q 0 0 0 rg BT 143.00 447.90 Td (in ) Tj ET Q q 0 0 0 rg BT 151.07 447.90 Td (respect ) Tj ET Q q 0 0 0 rg BT 178.63 447.90 Td (of ) Tj ET Q q 0 0 0 rg BT 187.14 447.90 Td (leasing ) Tj ET Q q 0 0 0 rg BT 213.84 447.90 Td (costs, ) Tj ET Q q 0 0 0 rg BT 236.21 447.90 Td (capital ) Tj ET Q q 0 0 0 rg BT 260.74 447.90 Td (expenditures, ) Tj ET Q q 0 0 0 rg BT 309.53 447.90 Td (property ) Tj ET Q q 0 0 0 rg BT 340.12 447.90 Td (operations, ) Tj ET Q q 0 0 0 rg BT 380.68 447.90 Td (and ) Tj ET Q q 0 0 0 rg BT 395.69 447.90 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 442.74 447.90 Td (and ) Tj ET Q q 0 0 0 rg BT 457.75 447.90 Td (discount ) Tj ET Q q 0 0 0 rg BT 488.78 447.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 508.11 447.90 Td (based ) Tj ET Q q 0 0 0 rg BT 531.35 447.90 Td (on ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 436.50 Td (market ) Tj ET Q q 0 0 0 rg BT 98.48 436.50 Td (data ) Tj ET Q q 0 0 0 rg BT 116.31 436.50 Td (within ) Tj ET Q q 0 0 0 rg BT 138.89 436.50 Td (the ) Tj ET Q q 0 0 0 rg BT 152.39 436.50 Td (applicable ) Tj ET Q q 0 0 0 rg BT 190.13 436.50 Td (market ) Tj ET Q q 0 0 0 rg BT 216.61 436.50 Td (segment ) Tj ET Q q 0 0 0 rg BT 249.16 436.50 Td (and ) Tj ET Q q 0 0 0 rg BT 264.82 436.50 Td (geographical ) Tj ET Q q 0 0 0 rg BT 312.10 436.50 Td (location. ) Tj ET Q q 0 0 0 rg BT 343.79 436.50 Td (In ) Tj ET Q q 0 0 0 rg BT 352.95 436.50 Td (addition, ) Tj ET Q q 0 0 0 rg BT 385.07 436.50 Td (critical ) Tj ET Q q 0 0 0 rg BT 409.82 436.50 Td (estimates ) Tj ET Q q 0 0 0 rg BT 445.83 436.50 Td (for ) Tj ET Q q 0 0 0 rg BT 457.59 436.50 Td (the ) Tj ET Q q 0 0 0 rg BT 471.08 436.50 Td (investment ) Tj ET Q q 0 0 0 rg BT 511.43 436.50 Td (property ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 425.10 Td (under ) Tj ET Q q 0 0 0 rg BT 94.79 425.10 Td (development ) Tj ET Q q 0 0 0 rg BT 142.26 425.10 Td (also ) Tj ET Q q 0 0 0 rg BT 159.42 425.10 Td (include ) Tj ET Q q 0 0 0 rg BT 186.97 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 200.66 425.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 232.54 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 241.90 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 255.60 425.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 290.51 425.10 Td (option ) Tj ET Q q 0 0 0 rg BT 314.60 425.10 Td (by ) Tj ET Q q 0 0 0 rg BT 325.69 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 339.39 425.10 Td (tenant ) Tj ET Q q 0 0 0 rg BT 363.92 425.10 Td (and ) Tj ET Q q 0 0 0 rg BT 379.78 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 393.47 425.10 Td (stage ) Tj ET Q q 0 0 0 rg BT 415.40 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 424.76 425.10 Td (completion. ) Tj ET Q q 0 0 0 rg BT 467.47 425.10 Td ( ) Tj ET Q q 0 0 0 rg BT 470.33 425.10 Td (V) Tj ET Q q 0 0 0 rg BT 474.95 425.10 Td (aluations ) Tj ET Q q 0 0 0 rg BT 509.00 425.10 Td (are ) Tj ET Q q 0 0 0 rg BT 523.13 425.10 Td (most ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 413.70 Td (sensitive ) Tj ET Q q 0 0 0 rg BT 104.90 413.70 Td (to ) Tj ET Q q 0 0 0 rg BT 113.99 413.70 Td (changes ) Tj ET Q q 0 0 0 rg BT 146.03 413.70 Td (in ) Tj ET Q q 0 0 0 rg BT 154.69 413.70 Td (discount ) Tj ET Q q 0 0 0 rg BT 186.29 413.70 Td (rates ) Tj ET Q q 0 0 0 rg BT 206.20 413.70 Td (and ) Tj ET Q q 0 0 0 rg BT 221.79 413.70 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 269.42 413.70 Td (rates. ) Tj ET Q q 0 0 0 rg BT 291.50 413.70 Td (Changes ) Tj ET Q q 0 0 0 rg BT 325.27 413.70 Td (to ) Tj ET Q q 0 0 0 rg BT 334.35 413.70 Td (the ) Tj ET Q q 0 0 0 rg BT 347.77 413.70 Td (estimates ) Tj ET Q q 0 0 0 rg BT 383.71 413.70 Td (and ) Tj ET Q q 0 0 0 rg BT 399.29 413.70 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 445.62 413.70 Td (used ) Tj ET Q q 0 0 0 rg BT 465.10 413.70 Td (by ) Tj ET Q q 0 0 0 rg BT 475.92 413.70 Td (management ) Tj ET Q q 0 0 0 rg BT 523.98 413.70 Td (or ) Tj ET Q q 0 0 0 rg BT 533.50 413.70 Td (to ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 402.30 Td (local ) Tj ET Q q 0 0 0 rg BT 89.79 402.30 Td (and ) Tj ET Q q 0 0 0 rg BT 104.56 402.30 Td (general ) Tj ET Q q 0 0 0 rg BT 132.31 402.30 Td (economic ) Tj ET Q q 0 0 0 rg BT 167.42 402.30 Td (conditions ) Tj ET Q q 0 0 0 rg BT 204.27 402.30 Td (can ) Tj ET Q q 0 0 0 rg BT 218.60 402.30 Td (result ) Tj ET Q q 0 0 0 rg BT 239.42 402.30 Td (in ) Tj ET Q q 0 0 0 rg BT 247.25 402.30 Td (a ) Tj ET Q q 0 0 0 rg BT 253.35 402.30 Td (significant ) Tj ET Q q 0 0 0 rg BT 289.76 402.30 Td (change ) Tj ET Q q 0 0 0 rg BT 317.09 402.30 Td (to ) Tj ET Q q 0 0 0 rg BT 325.36 402.30 Td (the ) Tj ET Q q 0 0 0 rg BT 337.96 402.30 Td (valuation ) Tj ET Q q 0 0 0 rg BT 370.91 402.30 Td (of ) Tj ET Q q 0 0 0 rg BT 379.18 402.30 Td (investment ) Tj ET Q q 0 0 0 rg BT 418.62 402.30 Td (properties, ) Tj ET Q q 0 0 0 rg BT 457.20 402.30 Td (which ) Tj ET Q q 0 0 0 rg BT 478.88 402.30 Td (will ) Tj ET Q q 0 0 0 rg BT 491.46 402.30 Td (be ) Tj ET Q q 0 0 0 rg BT 501.89 402.30 Td (recognized ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 390.90 Td (as ) Tj ET Q q 0 0 0 rg BT 82.40 390.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 95.38 390.90 Td (value ) Tj ET Q q 0 0 0 rg BT 116.18 390.90 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 160.35 390.90 Td (during ) Tj ET Q q 0 0 0 rg BT 184.17 390.90 Td (the ) Tj ET Q q 0 0 0 rg BT 197.17 390.90 Td (periods ) Tj ET Q q 0 0 0 rg BT 224.89 390.90 Td (the ) Tj ET Q q 0 0 0 rg BT 237.88 390.90 Td (changes ) Tj ET Q q 0 0 0 rg BT 269.51 390.90 Td (occur) Tj ET Q q 0 0 0 rg BT 288.13 390.90 Td (. ) Tj ET Q q 0 0 0 rg BT 292.46 390.90 Td ( ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 373.50 Td (vi. ) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 81.96 373.50 Td (Seasonality ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 356.10 Td (The ) Tj ET Q q 0 0 0 rg BT 87.67 356.10 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 113.04 356.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 151.66 356.10 Td (are ) Tj ET Q q 0 0 0 rg BT 165.16 356.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 192.09 356.10 Td (to ) Tj ET Q q 0 0 0 rg BT 200.83 356.10 Td (seasonality) Tj ET Q q 0 0 0 rg BT 239.24 356.10 Td (. ) Tj ET Q q 0 0 0 rg BT 243.65 356.10 Td ( ) Tj ET Q q 0 0 0 rg BT 245.89 356.10 Td (Property ) Tj ET Q q 0 0 0 rg BT 277.57 356.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 312.29 356.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 347.89 356.10 Td (vary ) Tj ET Q q 0 0 0 rg BT 364.85 356.10 Td (throughout ) Tj ET Q q 0 0 0 rg BT 404.34 356.10 Td (the ) Tj ET Q q 0 0 0 rg BT 417.41 356.10 Td (year ) Tj ET Q q 0 0 0 rg BT 434.81 356.10 Td (due ) Tj ET Q q 0 0 0 rg BT 450.05 356.10 Td (to ) Tj ET Q q 0 0 0 rg BT 458.79 356.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 490.48 356.10 Td (in ) Tj ET Q q 0 0 0 rg BT 498.79 356.10 Td (utility ) Tj ET Q q 0 0 0 rg BT 518.78 356.10 Td (usage ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 344.70 Td (and ) Tj ET Q q 0 0 0 rg BT 88.03 344.70 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 135.67 344.70 Td (costs, ) Tj ET Q q 0 0 0 rg BT 159.06 344.70 Td (with ) Tj ET Q q 0 0 0 rg BT 175.95 344.70 Td (increases ) Tj ET Q q 0 0 0 rg BT 212.32 344.70 Td (generally ) Tj ET Q q 0 0 0 rg BT 246.97 344.70 Td (occurring ) Tj ET Q q 0 0 0 rg BT 282.04 344.70 Td (in ) Tj ET Q q 0 0 0 rg BT 291.14 344.70 Td (the ) Tj ET Q q 0 0 0 rg BT 305.00 344.70 Td (colder ) Tj ET Q q 0 0 0 rg BT 329.25 344.70 Td (months. ) Tj ET Q q 0 0 0 rg BT 359.81 344.70 Td (T) Tj ET Q q 0 0 0 rg BT 363.71 344.70 Td (o ) Tj ET Q q 0 0 0 rg BT 371.07 344.70 Td (the ) Tj ET Q q 0 0 0 rg BT 384.94 344.70 Td (extent ) Tj ET Q q 0 0 0 rg BT 409.20 344.70 Td (that ) Tj ET Q q 0 0 0 rg BT 425.23 344.70 Td (property ) Tj ET Q q 0 0 0 rg BT 456.84 344.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 492.36 344.70 Td (expenses ) Tj ET Q q 0 0 0 rg BT 528.74 344.70 Td (are ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 333.30 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 115.39 333.30 Td (from ) Tj ET Q q 0 0 0 rg BT 133.65 333.30 Td (tenants ) Tj ET Q q 0 0 0 rg BT 161.89 333.30 Td (under ) Tj ET Q q 0 0 0 rg BT 184.49 333.30 Td (leases ) Tj ET Q q 0 0 0 rg BT 209.69 333.30 Td (rental ) Tj ET Q q 0 0 0 rg BT 231.86 333.30 Td (revenue ) Tj ET Q q 0 0 0 rg BT 262.70 333.30 Td (is ) Tj ET Q q 0 0 0 rg BT 271.00 333.30 Td (similarly ) Tj ET Q q 0 0 0 rg BT 301.81 333.30 Td (impacted. ) Tj ET Q q 0 0 0 rg BT 338.11 333.30 Td (The ) Tj ET Q q 0 0 0 rg BT 354.21 333.30 Td (REIT) Tj ET Q q 0 0 0 rg BT 371.82 333.30 Td ( ) Tj ET Q q 0 0 0 rg BT 374.50 333.30 Td (has ) Tj ET Q q 0 0 0 rg BT 389.74 333.30 Td (one ) Tj ET Q q 0 0 0 rg BT 405.42 333.30 Td (hotel ) Tj ET Q q 0 0 0 rg BT 425.00 333.30 Td (asset ) Tj ET Q q 0 0 0 rg BT 446.30 333.30 Td (located ) Tj ET Q q 0 0 0 rg BT 474.11 333.30 Td (in ) Tj ET Q q 0 0 0 rg BT 482.32 333.30 Td (Atlantic ) Tj ET Q q 0 0 0 rg BT 510.55 333.30 Td (Canada, ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 321.90 Td (which ) Tj ET Q q 0 0 0 rg BT 94.08 321.90 Td (generally ) Tj ET Q q 0 0 0 rg BT 127.86 321.90 Td (experiences ) Tj ET Q q 0 0 0 rg BT 172.04 321.90 Td (decreased ) Tj ET Q q 0 0 0 rg BT 210.58 321.90 Td (levels ) Tj ET Q q 0 0 0 rg BT 232.67 321.90 Td (of ) Tj ET Q q 0 0 0 rg BT 241.33 321.90 Td (business ) Tj ET Q q 0 0 0 rg BT 274.25 321.90 Td (in ) Tj ET Q q 0 0 0 rg BT 282.48 321.90 Td (the ) Tj ET Q q 0 0 0 rg BT 295.48 321.90 Td (winter ) Tj ET Q q 0 0 0 rg BT 318.42 321.90 Td (months ) Tj ET Q q 0 0 0 rg BT 346.14 321.90 Td (and ) Tj ET Q q 0 0 0 rg BT 361.30 321.90 Td (heightened ) Tj ET Q q 0 0 0 rg BT 402.03 321.90 Td (activity ) Tj ET Q q 0 0 0 rg BT 428.01 321.90 Td (during ) Tj ET Q q 0 0 0 rg BT 451.83 321.90 Td (spring ) Tj ET Q q 0 0 0 rg BT 475.21 321.90 Td (and ) Tj ET Q q 0 0 0 rg BT 490.38 321.90 Td (summer) Tj ET Q q 0 0 0 rg BT 518.08 321.90 Td (.) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 304.50 Td (3. ) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 90.00 304.50 Td (Significant ) Tj ET Q q 0 0 0 rg BT 131.99 304.50 Td (accounting ) Tj ET Q q 0 0 0 rg BT 175.71 304.50 Td (policies) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 72.00 287.10 Td (i. ) Tj ET Q q 0 0 0 rg BT 78.06 287.10 Td ( ) Tj ET Q q 0 0 0 rg BT 80.23 287.10 Td ( ) Tj ET Q q 0 0 0 rg BT 82.40 287.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 120.51 287.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 160.36 287.10 Td (policies) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 269.70 Td (These ) Tj ET Q q 0 0 0 rg BT 96.18 269.70 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 142.45 269.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 173.56 269.70 Td (statements ) Tj ET Q q 0 0 0 rg BT 214.20 269.70 Td (have ) Tj ET Q q 0 0 0 rg BT 233.62 269.70 Td (been ) Tj ET Q q 0 0 0 rg BT 253.48 269.70 Td (prepared ) Tj ET Q q 0 0 0 rg BT 287.19 269.70 Td (using ) Tj ET Q q 0 0 0 rg BT 308.34 269.70 Td (the ) Tj ET Q q 0 0 0 rg BT 321.70 269.70 Td (same ) Tj ET Q q 0 0 0 rg BT 343.27 269.70 Td (accounting ) Tj ET Q q 0 0 0 rg BT 383.49 269.70 Td (policies ) Tj ET Q q 0 0 0 rg BT 411.99 269.70 Td (and ) Tj ET Q q 0 0 0 rg BT 427.52 269.70 Td (methods ) Tj ET Q q 0 0 0 rg BT 459.93 269.70 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 494.93 269.70 Td (in ) Tj ET Q q 0 0 0 rg BT 503.52 269.70 Td (the ) Tj ET Q q 0 0 0 rg BT 516.88 269.70 Td (REIT's ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 258.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 96.91 258.30 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 142.17 258.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 172.27 258.30 Td (statements ) Tj ET Q q 0 0 0 rg BT 211.89 258.30 Td (for ) Tj ET Q q 0 0 0 rg BT 222.50 258.30 Td (the ) Tj ET Q q 0 0 0 rg BT 234.84 258.30 Td (year ) Tj ET Q q 0 0 0 rg BT 251.51 258.30 Td (ended ) Tj ET Q q 0 0 0 rg BT 274.69 258.30 Td (December ) Tj ET Q q 0 0 0 rg BT 312.13 258.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 324.48 258.30 Td (2015, ) Tj ET Q q 0 0 0 rg BT 345.49 258.30 Td (except ) Tj ET Q q 0 0 0 rg BT 369.96 258.30 Td (for ) Tj ET Q q 0 0 0 rg BT 380.57 258.30 Td (the ) Tj ET Q q 0 0 0 rg BT 392.91 258.30 Td (adoption ) Tj ET Q q 0 0 0 rg BT 424.32 258.30 Td (of ) Tj ET Q q 0 0 0 rg BT 432.33 258.30 Td (IAS ) Tj ET Q q 0 0 0 rg BT 446.40 258.30 Td (1 ) Tj ET Q q 0 0 0 rg BT 452.25 258.30 Td (and ) Tj ET Q q 0 0 0 rg BT 466.76 258.30 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 486.01 258.30 Td (1) Tj ET Q q 0 0 0 rg BT 489.78 258.30 Td (1 ) Tj ET Q q 0 0 0 rg BT 495.62 258.30 Td (as ) Tj ET Q q 0 0 0 rg BT 505.37 258.30 Td (discussed ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 246.90 Td (below) Tj ET Q q 0 0 0 rg BT 91.92 246.90 Td (.) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 72.00 229.50 Td (ii. ) Tj ET Q q 0 0 0 rg BT 79.79 229.50 Td ( ) Tj ET Q q 0 0 0 rg BT 81.96 229.50 Td ( ) Tj ET Q q 0 0 0 rg BT 84.13 229.50 Td (New ) Tj ET Q q 0 0 0 rg BT 101.87 229.50 Td (accounting ) Tj ET Q q 0 0 0 rg BT 141.72 229.50 Td (policies) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 212.10 Td (Amendments ) Tj ET Q q 0 0 0 rg BT 120.07 212.10 Td (to ) Tj ET Q q 0 0 0 rg BT 128.73 212.10 Td (IAS ) Tj ET Q q 0 0 0 rg BT 143.46 212.10 Td (1, ) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 152.12 212.10 Td (Presentation ) Tj ET Q q 0 0 0 rg BT 198.03 212.10 Td (of ) Tj ET Q q 0 0 0 rg BT 206.70 212.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 240.04 212.10 Td (Statements ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 281.62 212.10 Td (\("IAS ) Tj ET Q q 0 0 0 rg BT 301.70 212.10 Td (1"\) ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 194.70 Td (The ) Tj ET Q q 0 0 0 rg BT 88.02 194.70 Td (IASB ) Tj ET Q q 0 0 0 rg BT 108.38 194.70 Td (issued ) Tj ET Q q 0 0 0 rg BT 133.50 194.70 Td (amendments ) Tj ET Q q 0 0 0 rg BT 181.14 194.70 Td (to ) Tj ET Q q 0 0 0 rg BT 190.23 194.70 Td (IAS ) Tj ET Q q 0 0 0 rg BT 205.39 194.70 Td (1 ) Tj ET Q q 0 0 0 rg BT 212.32 194.70 Td (as ) Tj ET Q q 0 0 0 rg BT 223.15 194.70 Td (part ) Tj ET Q q 0 0 0 rg BT 239.18 194.70 Td (of ) Tj ET Q q 0 0 0 rg BT 248.28 194.70 Td (its ) Tj ET Q q 0 0 0 rg BT 258.67 194.70 Td (major ) Tj ET Q q 0 0 0 rg BT 280.75 194.70 Td (initiative ) Tj ET Q q 0 0 0 rg BT 311.50 194.70 Td (to ) Tj ET Q q 0 0 0 rg BT 320.60 194.70 Td (improve ) Tj ET Q q 0 0 0 rg BT 350.91 194.70 Td (presentation ) Tj ET Q q 0 0 0 rg BT 396.39 194.70 Td (and ) Tj ET Q q 0 0 0 rg BT 411.98 194.70 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 449.66 194.70 Td (in ) Tj ET Q q 0 0 0 rg BT 458.32 194.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 489.51 194.70 Td (reports. ) Tj ET Q q 0 0 0 rg BT 518.36 194.70 Td (These ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 183.30 Td (amendments ) Tj ET Q q 0 0 0 rg BT 118.33 183.30 Td (do ) Tj ET Q q 0 0 0 rg BT 128.28 183.30 Td (not ) Tj ET Q q 0 0 0 rg BT 140.41 183.30 Td (require ) Tj ET Q q 0 0 0 rg BT 165.94 183.30 Td (any ) Tj ET Q q 0 0 0 rg BT 179.80 183.30 Td (significant ) Tj ET Q q 0 0 0 rg BT 215.73 183.30 Td (change ) Tj ET Q q 0 0 0 rg BT 242.58 183.30 Td (to ) Tj ET Q q 0 0 0 rg BT 250.37 183.30 Td (current ) Tj ET Q q 0 0 0 rg BT 275.91 183.30 Td (practice, ) Tj ET Q q 0 0 0 rg BT 306.65 183.30 Td (but ) Tj ET Q q 0 0 0 rg BT 318.77 183.30 Td (are ) Tj ET Q q 0 0 0 rg BT 331.32 183.30 Td (intended ) Tj ET Q q 0 0 0 rg BT 362.50 183.30 Td (to ) Tj ET Q q 0 0 0 rg BT 370.29 183.30 Td (facilitate ) Tj ET Q q 0 0 0 rg BT 400.17 183.30 Td (improved ) Tj ET Q q 0 0 0 rg BT 433.50 183.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 463.37 183.30 Td (statement ) Tj ET Q q 0 0 0 rg BT 498.88 183.30 Td (disclosures. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 171.90 Td (The ) Tj ET Q q 0 0 0 rg BT 86.85 171.90 Td (amendments ) Tj ET Q q 0 0 0 rg BT 133.31 171.90 Td (are ) Tj ET Q q 0 0 0 rg BT 145.99 171.90 Td (ef) Tj ET Q q 0 0 0 rg BT 152.35 171.90 Td (fective ) Tj ET Q q 0 0 0 rg BT 176.29 171.90 Td (for ) Tj ET Q q 0 0 0 rg BT 186.81 171.90 Td (annual ) Tj ET Q q 0 0 0 rg BT 211.62 171.90 Td (periods ) Tj ET Q q 0 0 0 rg BT 238.59 171.90 Td (beginning ) Tj ET Q q 0 0 0 rg BT 273.81 171.90 Td (on ) Tj ET Q q 0 0 0 rg BT 283.89 171.90 Td (or ) Tj ET Q q 0 0 0 rg BT 292.24 171.90 Td (after ) Tj ET Q q 0 0 0 rg BT 309.25 171.90 Td (January ) Tj ET Q q 0 0 0 rg BT 338.39 171.90 Td (1, ) Tj ET Q q 0 0 0 rg BT 346.31 171.90 Td (2016 ) Tj ET Q q 0 0 0 rg BT 365.06 171.90 Td (and ) Tj ET Q q 0 0 0 rg BT 379.48 171.90 Td (were ) Tj ET Q q 0 0 0 rg BT 397.79 171.90 Td (adopted ) Tj ET Q q 0 0 0 rg BT 427.37 171.90 Td (by ) Tj ET Q q 0 0 0 rg BT 437.02 171.90 Td (the ) Tj ET Q q 0 0 0 rg BT 449.27 171.90 Td (REIT) Tj ET Q q 0 0 0 rg BT 466.88 171.90 Td ( ) Tj ET Q q 0 0 0 rg BT 468.30 171.90 Td (in ) Tj ET Q q 0 0 0 rg BT 475.79 171.90 Td (these ) Tj ET Q q 0 0 0 rg BT 496.27 171.90 Td (consolidated ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 160.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 102.75 160.50 Td (statements. ) Tj ET Q q 0 0 0 rg BT 145.06 160.50 Td (The ) Tj ET Q q 0 0 0 rg BT 160.65 160.50 Td (adoption ) Tj ET Q q 0 0 0 rg BT 192.71 160.50 Td (of ) Tj ET Q q 0 0 0 rg BT 201.38 160.50 Td (the ) Tj ET Q q 0 0 0 rg BT 214.37 160.50 Td (amendments ) Tj ET Q q 0 0 0 rg BT 261.58 160.50 Td (was ) Tj ET Q q 0 0 0 rg BT 277.60 160.50 Td (not ) Tj ET Q q 0 0 0 rg BT 290.59 160.50 Td (material ) Tj ET Q q 0 0 0 rg BT 320.47 160.50 Td (to ) Tj ET Q q 0 0 0 rg BT 329.13 160.50 Td (these ) Tj ET Q q 0 0 0 rg BT 350.36 160.50 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 396.28 160.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 427.03 160.50 Td (statements.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 143.10 Td (Amendments ) Tj ET Q q 0 0 0 rg BT 120.07 143.10 Td (to ) Tj ET Q q 0 0 0 rg BT 128.73 143.10 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 148.64 143.10 Td (1) Tj ET Q q 0 0 0 rg BT 152.40 143.10 Td (1, ) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 161.07 143.10 Td (Joint ) Tj ET Q q 0 0 0 rg BT 179.17 143.10 Td (Arrangements ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 230.27 143.10 Td (\("IFRS ) Tj ET Q q 0 0 0 rg BT 255.53 143.10 Td (1) Tj ET Q q 0 0 0 rg BT 259.30 143.10 Td (1"\) ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 125.70 Td (The ) Tj ET Q q 0 0 0 rg BT 87.87 125.70 Td (amendments ) Tj ET Q q 0 0 0 rg BT 135.35 125.70 Td (to ) Tj ET Q q 0 0 0 rg BT 144.30 125.70 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 164.48 125.70 Td (1) Tj ET Q q 0 0 0 rg BT 168.25 125.70 Td (1 ) Tj ET Q q 0 0 0 rg BT 175.02 125.70 Td (require ) Tj ET Q q 0 0 0 rg BT 201.71 125.70 Td (business ) Tj ET Q q 0 0 0 rg BT 234.91 125.70 Td (combination ) Tj ET Q q 0 0 0 rg BT 279.36 125.70 Td (accounting ) Tj ET Q q 0 0 0 rg BT 319.49 125.70 Td (to ) Tj ET Q q 0 0 0 rg BT 328.44 125.70 Td (be ) Tj ET Q q 0 0 0 rg BT 339.55 125.70 Td (applied ) Tj ET Q q 0 0 0 rg BT 367.12 125.70 Td (to ) Tj ET Q q 0 0 0 rg BT 376.06 125.70 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 419.21 125.70 Td (of ) Tj ET Q q 0 0 0 rg BT 428.16 125.70 Td (interests ) Tj ET Q q 0 0 0 rg BT 460.05 125.70 Td (in ) Tj ET Q q 0 0 0 rg BT 468.56 125.70 Td (a ) Tj ET Q q 0 0 0 rg BT 475.33 125.70 Td (joint ) Tj ET Q q 0 0 0 rg BT 492.07 125.70 Td (operation ) Tj ET Q q 0 0 0 rg BT 527.00 125.70 Td (that ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 114.30 Td (constitute ) Tj ET Q q 0 0 0 rg BT 108.24 114.30 Td (a ) Tj ET Q q 0 0 0 rg BT 115.46 114.30 Td (business. ) Tj ET Q q 0 0 0 rg BT 151.09 114.30 Td (The ) Tj ET Q q 0 0 0 rg BT 167.40 114.30 Td (amendments ) Tj ET Q q 0 0 0 rg BT 215.33 114.30 Td (apply ) Tj ET Q q 0 0 0 rg BT 236.84 114.30 Td (prospectively ) Tj ET Q q 0 0 0 rg BT 285.20 114.30 Td (for ) Tj ET Q q 0 0 0 rg BT 297.18 114.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 323.47 114.30 Td (periods ) Tj ET Q q 0 0 0 rg BT 351.91 114.30 Td (beginning ) Tj ET Q q 0 0 0 rg BT 388.58 114.30 Td (on ) Tj ET Q q 0 0 0 rg BT 400.14 114.30 Td (or ) Tj ET Q q 0 0 0 rg BT 409.95 114.30 Td (after ) Tj ET Q q 0 0 0 rg BT 428.43 114.30 Td (January ) Tj ET Q q 0 0 0 rg BT 459.04 114.30 Td (1, ) Tj ET Q q 0 0 0 rg BT 468.43 114.30 Td (2016. ) Tj ET Q q 0 0 0 rg BT 490.63 114.30 Td (The ) Tj ET Q q 0 0 0 rg BT 506.95 114.30 Td (REIT) Tj ET Q q 0 0 0 rg BT 524.55 114.30 Td ( ) Tj ET Q q 0 0 0 rg BT 527.44 114.30 Td (has ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 102.90 Td (adopted ) Tj ET Q q 0 0 0 rg BT 102.41 102.90 Td (the ) Tj ET Q q 0 0 0 rg BT 115.49 102.90 Td (amendments ) Tj ET Q q 0 0 0 rg BT 162.77 102.90 Td (to ) Tj ET Q q 0 0 0 rg BT 171.52 102.90 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 191.51 102.90 Td (1) Tj ET Q q 0 0 0 rg BT 195.27 102.90 Td (1 ) Tj ET Q q 0 0 0 rg BT 201.85 102.90 Td (in ) Tj ET Q q 0 0 0 rg BT 210.16 102.90 Td (its ) Tj ET Q q 0 0 0 rg BT 220.20 102.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 251.03 102.90 Td (statements ) Tj ET Q q 0 0 0 rg BT 291.39 102.90 Td (for ) Tj ET Q q 0 0 0 rg BT 302.73 102.90 Td (the ) Tj ET Q q 0 0 0 rg BT 315.81 102.90 Td (annual ) Tj ET Q q 0 0 0 rg BT 341.45 102.90 Td (period ) Tj ET Q q 0 0 0 rg BT 365.35 102.90 Td (beginning ) Tj ET Q q 0 0 0 rg BT 401.39 102.90 Td (on ) Tj ET Q q 0 0 0 rg BT 412.30 102.90 Td (January ) Tj ET Q q 0 0 0 rg BT 442.26 102.90 Td (1, ) Tj ET Q q 0 0 0 rg BT 451.01 102.90 Td (2016. ) Tj ET Q q 0 0 0 rg BT 472.61 102.90 Td (The ) Tj ET Q q 0 0 0 rg BT 488.28 102.90 Td (adoption ) Tj ET Q q 0 0 0 rg BT 520.42 102.90 Td (of ) Tj ET Q q 0 0 0 rg BT 529.17 102.90 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 91.50 Td (amendments ) Tj ET Q q 0 0 0 rg BT 119.20 91.50 Td (was ) Tj ET Q q 0 0 0 rg BT 135.22 91.50 Td (not ) Tj ET Q q 0 0 0 rg BT 148.22 91.50 Td (material ) Tj ET Q q 0 0 0 rg BT 178.09 91.50 Td (to ) Tj ET Q q 0 0 0 rg BT 186.76 91.50 Td (these ) Tj ET Q q 0 0 0 rg BT 207.99 91.50 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 253.90 91.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 284.65 91.50 Td (statements.) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 303.30 42.95 Td (Page 8) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 72.00 695.10 Td (iii. ) Tj ET Q q 0 0 0 rg BT 81.52 695.10 Td ( ) Tj ET Q q 0 0 0 rg BT 83.69 695.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.86 695.10 Td (Future ) Tj ET Q q 0 0 0 rg BT 110.54 695.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 150.39 695.10 Td (policies) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 677.70 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 91.91 677.70 Td (9, ) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 100.58 677.70 Td (Financial ) Tj ET Q q 0 0 0 rg BT 133.92 677.70 Td (Instruments) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 174.62 677.70 Td ( ) Tj ET Q q 0 0 0 rg BT 176.79 677.70 Td (\("IFRS ) Tj ET Q q 0 0 0 rg BT 202.06 677.70 Td (9"\) ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 660.30 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 91.83 660.30 Td (9, ) Tj ET Q q 0 0 0 rg BT 100.41 660.30 Td (which ) Tj ET Q q 0 0 0 rg BT 122.40 660.30 Td (replaces ) Tj ET Q q 0 0 0 rg BT 153.93 660.30 Td (IAS ) Tj ET Q q 0 0 0 rg BT 168.57 660.30 Td (39, ) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 181.48 660.30 Td (Financial ) Tj ET Q q 0 0 0 rg BT 214.74 660.30 Td (Instruments: ) Tj ET Q q 0 0 0 rg BT 259.70 660.30 Td (Recognition ) Tj ET Q q 0 0 0 rg BT 302.92 660.30 Td (and ) Tj ET Q q 0 0 0 rg BT 318.00 660.30 Td (Measurement) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 365.63 660.30 Td (, ) Tj ET Q q 0 0 0 rg BT 369.88 660.30 Td (establishes ) Tj ET Q q 0 0 0 rg BT 410.94 660.30 Td (principles ) Tj ET Q q 0 0 0 rg BT 445.93 660.30 Td (for ) Tj ET Q q 0 0 0 rg BT 457.10 660.30 Td (the ) Tj ET Q q 0 0 0 rg BT 470.02 660.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 500.69 660.30 Td (reporting ) Tj ET Q q 0 0 0 rg BT 533.51 660.30 Td (of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 648.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 102.24 648.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 126.42 648.90 Td (and ) Tj ET Q q 0 0 0 rg BT 141.07 648.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 171.31 648.90 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 202.41 648.90 Td (that ) Tj ET Q q 0 0 0 rg BT 217.07 648.90 Td (will ) Tj ET Q q 0 0 0 rg BT 229.54 648.90 Td (present ) Tj ET Q q 0 0 0 rg BT 257.18 648.90 Td (relevant ) Tj ET Q q 0 0 0 rg BT 286.56 648.90 Td (and ) Tj ET Q q 0 0 0 rg BT 301.21 648.90 Td (useful ) Tj ET Q q 0 0 0 rg BT 323.66 648.90 Td (information ) Tj ET Q q 0 0 0 rg BT 363.85 648.90 Td (to ) Tj ET Q q 0 0 0 rg BT 372.01 648.90 Td (users ) Tj ET Q q 0 0 0 rg BT 392.72 648.90 Td (of ) Tj ET Q q 0 0 0 rg BT 400.87 648.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 431.12 648.90 Td (statements ) Tj ET Q q 0 0 0 rg BT 470.88 648.90 Td (for ) Tj ET Q q 0 0 0 rg BT 481.63 648.90 Td (their ) Tj ET Q q 0 0 0 rg BT 498.45 648.90 Td (assessment ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 637.50 Td (of ) Tj ET Q q 0 0 0 rg BT 80.52 637.50 Td (the ) Tj ET Q q 0 0 0 rg BT 93.37 637.50 Td (amounts, ) Tj ET Q q 0 0 0 rg BT 127.44 637.50 Td (timing ) Tj ET Q q 0 0 0 rg BT 150.24 637.50 Td (and ) Tj ET Q q 0 0 0 rg BT 165.26 637.50 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 205.40 637.50 Td (of ) Tj ET Q q 0 0 0 rg BT 213.91 637.50 Td (an ) Tj ET Q q 0 0 0 rg BT 224.60 637.50 Td (entity) Tj ET Q q 0 0 0 rg BT 244.82 637.50 Td (s ) Tj ET Q q 0 0 0 rg BT 250.74 637.50 Td (future ) Tj ET Q q 0 0 0 rg BT 272.68 637.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 291.16 637.50 Td (flows. ) Tj ET Q q 0 0 0 rg BT 313.10 637.50 Td (Under ) Tj ET Q q 0 0 0 rg BT 336.33 637.50 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 356.09 637.50 Td (9, ) Tj ET Q q 0 0 0 rg BT 364.61 637.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 395.22 637.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 419.76 637.50 Td (are ) Tj ET Q q 0 0 0 rg BT 433.04 637.50 Td (classified ) Tj ET Q q 0 0 0 rg BT 467.10 637.50 Td (and ) Tj ET Q q 0 0 0 rg BT 482.12 637.50 Td (measured ) Tj ET Q q 0 0 0 rg BT 518.78 637.50 Td (based ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 626.10 Td (on ) Tj ET Q q 0 0 0 rg BT 82.97 626.10 Td (the ) Tj ET Q q 0 0 0 rg BT 96.11 626.10 Td (business ) Tj ET Q q 0 0 0 rg BT 129.17 626.10 Td (model ) Tj ET Q q 0 0 0 rg BT 152.70 626.10 Td (in ) Tj ET Q q 0 0 0 rg BT 161.07 626.10 Td (which ) Tj ET Q q 0 0 0 rg BT 183.30 626.10 Td (they ) Tj ET Q q 0 0 0 rg BT 200.33 626.10 Td (are ) Tj ET Q q 0 0 0 rg BT 213.90 626.10 Td (held ) Tj ET Q q 0 0 0 rg BT 230.94 626.10 Td (and ) Tj ET Q q 0 0 0 rg BT 246.24 626.10 Td (the ) Tj ET Q q 0 0 0 rg BT 259.38 626.10 Td (characteristics ) Tj ET Q q 0 0 0 rg BT 311.49 626.10 Td (of ) Tj ET Q q 0 0 0 rg BT 320.29 626.10 Td (their ) Tj ET Q q 0 0 0 rg BT 337.76 626.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 356.53 626.10 Td (flows. ) Tj ET Q q 0 0 0 rg BT 378.75 626.10 Td (In ) Tj ET Q q 0 0 0 rg BT 387.56 626.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 419.32 626.10 Td (under ) Tj ET Q q 0 0 0 rg BT 441.56 626.10 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 461.61 626.10 Td (9 ) Tj ET Q q 0 0 0 rg BT 468.25 626.10 Td (for ) Tj ET Q q 0 0 0 rg BT 479.65 626.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 510.54 626.10 Td (liabilities ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 614.70 Td (measured ) Tj ET Q q 0 0 0 rg BT 108.70 614.70 Td (at ) Tj ET Q q 0 0 0 rg BT 117.25 614.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 130.13 614.70 Td (value, ) Tj ET Q q 0 0 0 rg BT 152.98 614.70 Td (changes ) Tj ET Q q 0 0 0 rg BT 184.49 614.70 Td (in ) Tj ET Q q 0 0 0 rg BT 192.61 614.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 205.49 614.70 Td (value ) Tj ET Q q 0 0 0 rg BT 226.17 614.70 Td (attributable ) Tj ET Q q 0 0 0 rg BT 266.78 614.70 Td (to ) Tj ET Q q 0 0 0 rg BT 275.33 614.70 Td (changes ) Tj ET Q q 0 0 0 rg BT 306.85 614.70 Td (in ) Tj ET Q q 0 0 0 rg BT 314.97 614.70 Td (credit ) Tj ET Q q 0 0 0 rg BT 336.08 614.70 Td (risk ) Tj ET Q q 0 0 0 rg BT 350.25 614.70 Td (will ) Tj ET Q q 0 0 0 rg BT 363.12 614.70 Td (be ) Tj ET Q q 0 0 0 rg BT 373.84 614.70 Td (recognized ) Tj ET Q q 0 0 0 rg BT 414.01 614.70 Td (in ) Tj ET Q q 0 0 0 rg BT 422.13 614.70 Td (other ) Tj ET Q q 0 0 0 rg BT 441.94 614.70 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 496.83 614.70 Td (income, ) Tj ET Q q 0 0 0 rg BT 526.17 614.70 Td (with ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 603.30 Td (the ) Tj ET Q q 0 0 0 rg BT 85.34 603.30 Td (remainder ) Tj ET Q q 0 0 0 rg BT 122.92 603.30 Td (of ) Tj ET Q q 0 0 0 rg BT 131.93 603.30 Td (the ) Tj ET Q q 0 0 0 rg BT 145.27 603.30 Td (changes ) Tj ET Q q 0 0 0 rg BT 177.23 603.30 Td (recognized ) Tj ET Q q 0 0 0 rg BT 217.85 603.30 Td (in ) Tj ET Q q 0 0 0 rg BT 226.43 603.30 Td (profit ) Tj ET Q q 0 0 0 rg BT 246.26 603.30 Td (or ) Tj ET Q q 0 0 0 rg BT 255.69 603.30 Td (loss. ) Tj ET Q q 0 0 0 rg BT 274.22 603.30 Td ( ) Tj ET Q q 0 0 0 rg BT 276.73 603.30 Td (However) Tj ET Q q 0 0 0 rg BT 307.04 603.30 Td (, ) Tj ET Q q 0 0 0 rg BT 311.71 603.30 Td (if ) Tj ET Q q 0 0 0 rg BT 318.12 603.30 Td (this ) Tj ET Q q 0 0 0 rg BT 332.76 603.30 Td (requirement ) Tj ET Q q 0 0 0 rg BT 376.83 603.30 Td (creates ) Tj ET Q q 0 0 0 rg BT 404.89 603.30 Td (or ) Tj ET Q q 0 0 0 rg BT 414.33 603.30 Td (enlarges ) Tj ET Q q 0 0 0 rg BT 446.72 603.30 Td (an ) Tj ET Q q 0 0 0 rg BT 457.89 603.30 Td (accounting ) Tj ET Q q 0 0 0 rg BT 498.09 603.30 Td (mismatch ) Tj ET Q q 0 0 0 rg BT 533.93 603.30 Td (in ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 591.90 Td (profit ) Tj ET Q q 0 0 0 rg BT 91.28 591.90 Td (or ) Tj ET Q q 0 0 0 rg BT 100.16 591.90 Td (loss, ) Tj ET Q q 0 0 0 rg BT 118.13 591.90 Td (the ) Tj ET Q q 0 0 0 rg BT 130.92 591.90 Td (entire ) Tj ET Q q 0 0 0 rg BT 152.36 591.90 Td (change ) Tj ET Q q 0 0 0 rg BT 179.87 591.90 Td (in ) Tj ET Q q 0 0 0 rg BT 187.89 591.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 200.67 591.90 Td (value ) Tj ET Q q 0 0 0 rg BT 221.25 591.90 Td (will ) Tj ET Q q 0 0 0 rg BT 234.01 591.90 Td (be ) Tj ET Q q 0 0 0 rg BT 244.63 591.90 Td (recognized ) Tj ET Q q 0 0 0 rg BT 284.70 591.90 Td (in ) Tj ET Q q 0 0 0 rg BT 292.72 591.90 Td (profit ) Tj ET Q q 0 0 0 rg BT 311.99 591.90 Td (or ) Tj ET Q q 0 0 0 rg BT 320.87 591.90 Td (loss. ) Tj ET Q q 0 0 0 rg BT 338.73 591.90 Td (This ) Tj ET Q q 0 0 0 rg BT 355.40 591.90 Td (new ) Tj ET Q q 0 0 0 rg BT 371.64 591.90 Td (standard ) Tj ET Q q 0 0 0 rg BT 403.91 591.90 Td (is ) Tj ET Q q 0 0 0 rg BT 411.49 591.90 Td (ef) Tj ET Q q 0 0 0 rg BT 417.86 591.90 Td (fective ) Tj ET Q q 0 0 0 rg BT 442.33 591.90 Td (for ) Tj ET Q q 0 0 0 rg BT 453.38 591.90 Td (annual ) Tj ET Q q 0 0 0 rg BT 478.73 591.90 Td (periods ) Tj ET Q q 0 0 0 rg BT 506.23 591.90 Td (beginning ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 580.50 Td (on ) Tj ET Q q 0 0 0 rg BT 82.83 580.50 Td (or ) Tj ET Q q 0 0 0 rg BT 91.92 580.50 Td (after ) Tj ET Q q 0 0 0 rg BT 109.68 580.50 Td (January ) Tj ET Q q 0 0 0 rg BT 139.56 580.50 Td (1, ) Tj ET Q q 0 0 0 rg BT 148.23 580.50 Td (2018. ) Tj ET Q q 0 0 0 rg BT 169.76 580.50 Td (The ) Tj ET Q q 0 0 0 rg BT 185.35 580.50 Td (extent ) Tj ET Q q 0 0 0 rg BT 208.74 580.50 Td (of ) Tj ET Q q 0 0 0 rg BT 217.41 580.50 Td (the ) Tj ET Q q 0 0 0 rg BT 230.41 580.50 Td (impact ) Tj ET Q q 0 0 0 rg BT 255.52 580.50 Td (of ) Tj ET Q q 0 0 0 rg BT 264.19 580.50 Td (adoption ) Tj ET Q q 0 0 0 rg BT 296.25 580.50 Td (of ) Tj ET Q q 0 0 0 rg BT 304.91 580.50 Td (the ) Tj ET Q q 0 0 0 rg BT 317.91 580.50 Td (amendments ) Tj ET Q q 0 0 0 rg BT 365.11 580.50 Td (has ) Tj ET Q q 0 0 0 rg BT 379.84 580.50 Td (not ) Tj ET Q q 0 0 0 rg BT 392.84 580.50 Td (yet ) Tj ET Q q 0 0 0 rg BT 405.40 580.50 Td (been ) Tj ET Q q 0 0 0 rg BT 424.90 580.50 Td (determined. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 563.10 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 91.91 563.10 Td (15, ) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 104.91 563.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 138.26 563.10 Td (from ) Tj ET Q q 0 0 0 rg BT 156.00 563.10 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 191.51 563.10 Td (with ) Tj ET Q q 0 0 0 rg BT 207.53 563.10 Td (Customers) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 245.19 563.10 Td ( ) Tj ET Q q 0 0 0 rg BT 247.36 563.10 Td (\("IFRS ) Tj ET Q q 0 0 0 rg BT 272.62 563.10 Td (15"\) ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 545.70 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 92.23 545.70 Td (15 ) Tj ET Q q 0 0 0 rg BT 103.38 545.70 Td (provides ) Tj ET Q q 0 0 0 rg BT 135.31 545.70 Td (a ) Tj ET Q q 0 0 0 rg BT 142.13 545.70 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 197.44 545.70 Td (framework ) Tj ET Q q 0 0 0 rg BT 236.29 545.70 Td (for ) Tj ET Q q 0 0 0 rg BT 247.86 545.70 Td (recognition, ) Tj ET Q q 0 0 0 rg BT 290.63 545.70 Td (measurement ) Tj ET Q q 0 0 0 rg BT 340.74 545.70 Td (and ) Tj ET Q q 0 0 0 rg BT 356.23 545.70 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 393.78 545.70 Td (of ) Tj ET Q q 0 0 0 rg BT 402.77 545.70 Td (revenue ) Tj ET Q q 0 0 0 rg BT 433.40 545.70 Td (from ) Tj ET Q q 0 0 0 rg BT 451.47 545.70 Td (contracts ) Tj ET Q q 0 0 0 rg BT 485.57 545.70 Td (with ) Tj ET Q q 0 0 0 rg BT 501.91 545.70 Td (customers, ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 534.30 Td (excluding ) Tj ET Q q 0 0 0 rg BT 106.65 534.30 Td (contracts ) Tj ET Q q 0 0 0 rg BT 139.99 534.30 Td (within ) Tj ET Q q 0 0 0 rg BT 161.63 534.30 Td (the ) Tj ET Q q 0 0 0 rg BT 174.19 534.30 Td (scope ) Tj ET Q q 0 0 0 rg BT 196.71 534.30 Td (of ) Tj ET Q q 0 0 0 rg BT 204.94 534.30 Td (the ) Tj ET Q q 0 0 0 rg BT 217.50 534.30 Td (standard ) Tj ET Q q 0 0 0 rg BT 249.55 534.30 Td (on ) Tj ET Q q 0 0 0 rg BT 259.95 534.30 Td (leases, ) Tj ET Q q 0 0 0 rg BT 286.36 534.30 Td (insurance ) Tj ET Q q 0 0 0 rg BT 321.87 534.30 Td (contracts ) Tj ET Q q 0 0 0 rg BT 355.21 534.30 Td (and ) Tj ET Q q 0 0 0 rg BT 369.94 534.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 400.26 534.30 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 444.31 534.30 Td (The ) Tj ET Q q 0 0 0 rg BT 459.47 534.30 Td (new ) Tj ET Q q 0 0 0 rg BT 475.48 534.30 Td (standards ) Tj ET Q q 0 0 0 rg BT 511.43 534.30 Td (includes ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 522.90 Td (a ) Tj ET Q q 0 0 0 rg BT 78.15 522.90 Td (contract-based ) Tj ET Q q 0 0 0 rg BT 131.50 522.90 Td (five-step ) Tj ET Q q 0 0 0 rg BT 162.77 522.90 Td (analysis ) Tj ET Q q 0 0 0 rg BT 192.73 522.90 Td (of ) Tj ET Q q 0 0 0 rg BT 201.05 522.90 Td (transactions ) Tj ET Q q 0 0 0 rg BT 244.87 522.90 Td (to ) Tj ET Q q 0 0 0 rg BT 253.19 522.90 Td (determine ) Tj ET Q q 0 0 0 rg BT 289.65 522.90 Td (whether) Tj ET Q q 0 0 0 rg BT 316.93 522.90 Td (, ) Tj ET Q q 0 0 0 rg BT 320.91 522.90 Td (how ) Tj ET Q q 0 0 0 rg BT 337.02 522.90 Td (much ) Tj ET Q q 0 0 0 rg BT 357.88 522.90 Td (and ) Tj ET Q q 0 0 0 rg BT 372.70 522.90 Td (when ) Tj ET Q q 0 0 0 rg BT 393.13 522.90 Td (revenue ) Tj ET Q q 0 0 0 rg BT 423.10 522.90 Td (is ) Tj ET Q q 0 0 0 rg BT 430.55 522.90 Td (recognized. ) Tj ET Q q 0 0 0 rg BT 472.64 522.90 Td ( ) Tj ET Q q 0 0 0 rg BT 474.46 522.90 Td (New ) Tj ET Q q 0 0 0 rg BT 491.85 522.90 Td (estimates ) Tj ET Q q 0 0 0 rg BT 527.01 522.90 Td (and ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 511.50 Td (judgmental ) Tj ET Q q 0 0 0 rg BT 111.56 511.50 Td (thresholds ) Tj ET Q q 0 0 0 rg BT 148.96 511.50 Td (have ) Tj ET Q q 0 0 0 rg BT 167.30 511.50 Td (been ) Tj ET Q q 0 0 0 rg BT 186.08 511.50 Td (introduced, ) Tj ET Q q 0 0 0 rg BT 226.08 511.50 Td (which ) Tj ET Q q 0 0 0 rg BT 247.44 511.50 Td (may ) Tj ET Q q 0 0 0 rg BT 263.61 511.50 Td (af) Tj ET Q q 0 0 0 rg BT 269.97 511.50 Td (fect ) Tj ET Q q 0 0 0 rg BT 283.98 511.50 Td (the ) Tj ET Q q 0 0 0 rg BT 296.26 511.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 323.70 511.50 Td (and/or ) Tj ET Q q 0 0 0 rg BT 347.24 511.50 Td (timing ) Tj ET Q q 0 0 0 rg BT 369.47 511.50 Td (of ) Tj ET Q q 0 0 0 rg BT 377.42 511.50 Td (revenue ) Tj ET Q q 0 0 0 rg BT 407.02 511.50 Td (recognized. ) Tj ET Q q 0 0 0 rg BT 448.75 511.50 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 467.94 511.50 Td (15 ) Tj ET Q q 0 0 0 rg BT 478.05 511.50 Td (becomes ) Tj ET Q q 0 0 0 rg BT 511.12 511.50 Td (ef) Tj ET Q q 0 0 0 rg BT 517.48 511.50 Td (fective ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 500.10 Td (for ) Tj ET Q q 0 0 0 rg BT 83.44 500.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 109.18 500.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 137.08 500.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 173.21 500.10 Td (on ) Tj ET Q q 0 0 0 rg BT 184.23 500.10 Td (or ) Tj ET Q q 0 0 0 rg BT 193.50 500.10 Td (after ) Tj ET Q q 0 0 0 rg BT 211.44 500.10 Td (January ) Tj ET Q q 0 0 0 rg BT 241.50 500.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 250.35 500.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 272.19 500.10 Td (and ) Tj ET Q q 0 0 0 rg BT 287.53 500.10 Td (is ) Tj ET Q q 0 0 0 rg BT 295.51 500.10 Td (to ) Tj ET Q q 0 0 0 rg BT 304.35 500.10 Td (be ) Tj ET Q q 0 0 0 rg BT 315.37 500.10 Td (applied ) Tj ET Q q 0 0 0 rg BT 342.84 500.10 Td (retrospectively) Tj ET Q q 0 0 0 rg BT 392.50 500.10 Td (. ) Tj ET Q q 0 0 0 rg BT 397.01 500.10 Td (Early ) Tj ET Q q 0 0 0 rg BT 417.11 500.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 449.34 500.10 Td (is ) Tj ET Q q 0 0 0 rg BT 457.32 500.10 Td (permitted. ) Tj ET Q q 0 0 0 rg BT 494.16 500.10 Td (The ) Tj ET Q q 0 0 0 rg BT 509.93 500.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 533.51 500.10 Td (of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 488.70 Td (the ) Tj ET Q q 0 0 0 rg BT 85.00 488.70 Td (impact ) Tj ET Q q 0 0 0 rg BT 110.11 488.70 Td (of ) Tj ET Q q 0 0 0 rg BT 118.78 488.70 Td (adoption ) Tj ET Q q 0 0 0 rg BT 150.84 488.70 Td (of ) Tj ET Q q 0 0 0 rg BT 159.50 488.70 Td (the ) Tj ET Q q 0 0 0 rg BT 172.50 488.70 Td (amendments ) Tj ET Q q 0 0 0 rg BT 219.70 488.70 Td (has ) Tj ET Q q 0 0 0 rg BT 234.43 488.70 Td (not ) Tj ET Q q 0 0 0 rg BT 247.43 488.70 Td (yet ) Tj ET Q q 0 0 0 rg BT 259.99 488.70 Td (been ) Tj ET Q q 0 0 0 rg BT 279.49 488.70 Td (determined. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 471.30 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 91.91 471.30 Td (16, ) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 104.91 471.30 Td (Leases ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 132.20 471.30 Td (\("IFRS ) Tj ET Q q 0 0 0 rg BT 157.46 471.30 Td (16"\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 453.90 Td (This ) Tj ET Q q 0 0 0 rg BT 89.10 453.90 Td (standard ) Tj ET Q q 0 0 0 rg BT 121.81 453.90 Td (introduces ) Tj ET Q q 0 0 0 rg BT 160.14 453.90 Td (a ) Tj ET Q q 0 0 0 rg BT 166.86 453.90 Td (single ) Tj ET Q q 0 0 0 rg BT 189.60 453.90 Td (lessee ) Tj ET Q q 0 0 0 rg BT 214.50 453.90 Td (accounting ) Tj ET Q q 0 0 0 rg BT 254.57 453.90 Td (model ) Tj ET Q q 0 0 0 rg BT 278.18 453.90 Td (and ) Tj ET Q q 0 0 0 rg BT 293.56 453.90 Td (requires ) Tj ET Q q 0 0 0 rg BT 324.09 453.90 Td (a ) Tj ET Q q 0 0 0 rg BT 330.81 453.90 Td (lessee ) Tj ET Q q 0 0 0 rg BT 355.71 453.90 Td (to ) Tj ET Q q 0 0 0 rg BT 364.60 453.90 Td (recognize ) Tj ET Q q 0 0 0 rg BT 400.76 453.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 425.67 453.90 Td (and ) Tj ET Q q 0 0 0 rg BT 441.05 453.90 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 472.88 453.90 Td (for ) Tj ET Q q 0 0 0 rg BT 484.36 453.90 Td (all ) Tj ET Q q 0 0 0 rg BT 494.54 453.90 Td (leases ) Tj ET Q q 0 0 0 rg BT 519.44 453.90 Td (with ) Tj ET Q q 0 0 0 rg BT 535.68 453.90 Td (a ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 442.50 Td (term ) Tj ET Q q 0 0 0 rg BT 90.63 442.50 Td (of ) Tj ET Q q 0 0 0 rg BT 100.18 442.50 Td (more ) Tj ET Q q 0 0 0 rg BT 120.98 442.50 Td (than ) Tj ET Q q 0 0 0 rg BT 139.20 442.50 Td (twelve ) Tj ET Q q 0 0 0 rg BT 164.33 442.50 Td (months, ) Tj ET Q q 0 0 0 rg BT 195.10 442.50 Td (unless ) Tj ET Q q 0 0 0 rg BT 220.67 442.50 Td (the ) Tj ET Q q 0 0 0 rg BT 234.56 442.50 Td (underlying ) Tj ET Q q 0 0 0 rg BT 273.55 442.50 Td (asset ) Tj ET Q q 0 0 0 rg BT 295.23 442.50 Td (is ) Tj ET Q q 0 0 0 rg BT 303.91 442.50 Td (of ) Tj ET Q q 0 0 0 rg BT 313.46 442.50 Td (low ) Tj ET Q q 0 0 0 rg BT 328.20 442.50 Td (value. ) Tj ET Q q 0 0 0 rg BT 351.44 442.50 Td (A) Tj ET Q q 0 0 0 rg BT 356.21 442.50 Td ( ) Tj ET Q q 0 0 0 rg BT 359.26 442.50 Td (lessee ) Tj ET Q q 0 0 0 rg BT 384.83 442.50 Td (is ) Tj ET Q q 0 0 0 rg BT 393.51 442.50 Td (required ) Tj ET Q q 0 0 0 rg BT 425.14 442.50 Td (to ) Tj ET Q q 0 0 0 rg BT 434.69 442.50 Td (recognize ) Tj ET Q q 0 0 0 rg BT 471.52 442.50 Td (a ) Tj ET Q q 0 0 0 rg BT 478.91 442.50 Td (right-of-use ) Tj ET Q q 0 0 0 rg BT 521.36 442.50 Td (asset ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 431.10 Td (representing ) Tj ET Q q 0 0 0 rg BT 117.73 431.10 Td (its ) Tj ET Q q 0 0 0 rg BT 127.95 431.10 Td (right ) Tj ET Q q 0 0 0 rg BT 145.53 431.10 Td (to ) Tj ET Q q 0 0 0 rg BT 154.45 431.10 Td (use ) Tj ET Q q 0 0 0 rg BT 169.44 431.10 Td (the ) Tj ET Q q 0 0 0 rg BT 182.70 431.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 221.07 431.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 242.12 431.10 Td (and ) Tj ET Q q 0 0 0 rg BT 257.54 431.10 Td (a ) Tj ET Q q 0 0 0 rg BT 264.30 431.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 285.35 431.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 311.15 431.10 Td (representing ) Tj ET Q q 0 0 0 rg BT 356.88 431.10 Td (its ) Tj ET Q q 0 0 0 rg BT 367.10 431.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 402.88 431.10 Td (to ) Tj ET Q q 0 0 0 rg BT 411.80 431.10 Td (make ) Tj ET Q q 0 0 0 rg BT 433.28 431.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 454.33 431.10 Td (payments. ) Tj ET Q q 0 0 0 rg BT 492.55 431.10 Td (This ) Tj ET Q q 0 0 0 rg BT 509.69 431.10 Td (standard ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 419.70 Td (substantially ) Tj ET Q q 0 0 0 rg BT 117.08 419.70 Td (carries ) Tj ET Q q 0 0 0 rg BT 142.67 419.70 Td (forward ) Tj ET Q q 0 0 0 rg BT 170.85 419.70 Td (the ) Tj ET Q q 0 0 0 rg BT 183.89 419.70 Td (lessor ) Tj ET Q q 0 0 0 rg BT 206.88 419.70 Td (accounting ) Tj ET Q q 0 0 0 rg BT 246.77 419.70 Td (requirements ) Tj ET Q q 0 0 0 rg BT 294.44 419.70 Td (of ) Tj ET Q q 0 0 0 rg BT 303.15 419.70 Td (IAS ) Tj ET Q q 0 0 0 rg BT 317.91 419.70 Td (17, ) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 330.95 419.70 Td (Leases) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 356.07 419.70 Td (, ) Tj ET Q q 0 0 0 rg BT 360.45 419.70 Td (while ) Tj ET Q q 0 0 0 rg BT 380.40 419.70 Td (requiring ) Tj ET Q q 0 0 0 rg BT 412.92 419.70 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 449.35 419.70 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 490.53 419.70 Td (to ) Tj ET Q q 0 0 0 rg BT 499.24 419.70 Td (be ) Tj ET Q q 0 0 0 rg BT 510.11 419.70 Td (provided ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 408.30 Td (by ) Tj ET Q q 0 0 0 rg BT 81.79 408.30 Td (lessors. ) Tj ET Q q 0 0 0 rg BT 110.19 408.30 Td (Other ) Tj ET Q q 0 0 0 rg BT 131.23 408.30 Td (areas ) Tj ET Q q 0 0 0 rg BT 152.28 408.30 Td (of ) Tj ET Q q 0 0 0 rg BT 160.33 408.30 Td (the ) Tj ET Q q 0 0 0 rg BT 172.72 408.30 Td (lease ) Tj ET Q q 0 0 0 rg BT 192.90 408.30 Td (accounting ) Tj ET Q q 0 0 0 rg BT 232.15 408.30 Td (model ) Tj ET Q q 0 0 0 rg BT 254.92 408.30 Td (have ) Tj ET Q q 0 0 0 rg BT 273.37 408.30 Td (been ) Tj ET Q q 0 0 0 rg BT 292.26 408.30 Td (impacted, ) Tj ET Q q 0 0 0 rg BT 327.60 408.30 Td (including ) Tj ET Q q 0 0 0 rg BT 359.90 408.30 Td (the ) Tj ET Q q 0 0 0 rg BT 372.29 408.30 Td (definition ) Tj ET Q q 0 0 0 rg BT 405.04 408.30 Td (of ) Tj ET Q q 0 0 0 rg BT 413.09 408.30 Td (a ) Tj ET Q q 0 0 0 rg BT 418.98 408.30 Td (lease. ) Tj ET Q q 0 0 0 rg BT 441.23 408.30 Td (The ) Tj ET Q q 0 0 0 rg BT 456.22 408.30 Td (new ) Tj ET Q q 0 0 0 rg BT 472.06 408.30 Td (standard ) Tj ET Q q 0 0 0 rg BT 503.94 408.30 Td (is ) Tj ET Q q 0 0 0 rg BT 511.12 408.30 Td (ef) Tj ET Q q 0 0 0 rg BT 517.48 408.30 Td (fective ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 396.90 Td (for ) Tj ET Q q 0 0 0 rg BT 82.97 396.90 Td (annual ) Tj ET Q q 0 0 0 rg BT 108.25 396.90 Td (periods ) Tj ET Q q 0 0 0 rg BT 135.68 396.90 Td (beginning ) Tj ET Q q 0 0 0 rg BT 171.35 396.90 Td (on ) Tj ET Q q 0 0 0 rg BT 181.89 396.90 Td (or ) Tj ET Q q 0 0 0 rg BT 190.70 396.90 Td (after ) Tj ET Q q 0 0 0 rg BT 208.17 396.90 Td (January ) Tj ET Q q 0 0 0 rg BT 237.77 396.90 Td (1, ) Tj ET Q q 0 0 0 rg BT 246.15 396.90 Td (2019, ) Tj ET Q q 0 0 0 rg BT 267.53 396.90 Td (which ) Tj ET Q q 0 0 0 rg BT 289.32 396.90 Td (is ) Tj ET Q q 0 0 0 rg BT 296.83 396.90 Td (when ) Tj ET Q q 0 0 0 rg BT 317.33 396.90 Td (the ) Tj ET Q q 0 0 0 rg BT 330.04 396.90 Td (REIT) Tj ET Q q 0 0 0 rg BT 347.65 396.90 Td ( ) Tj ET Q q 0 0 0 rg BT 349.53 396.90 Td (intends ) Tj ET Q q 0 0 0 rg BT 376.54 396.90 Td (to ) Tj ET Q q 0 0 0 rg BT 384.92 396.90 Td (adopt ) Tj ET Q q 0 0 0 rg BT 406.29 396.90 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 425.92 396.90 Td (16 ) Tj ET Q q 0 0 0 rg BT 436.46 396.90 Td (in ) Tj ET Q q 0 0 0 rg BT 444.41 396.90 Td (its ) Tj ET Q q 0 0 0 rg BT 454.08 396.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 484.55 396.90 Td (statements. ) Tj ET Q q 0 0 0 rg BT 526.59 396.90 Td (The ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 385.50 Td (extent ) Tj ET Q q 0 0 0 rg BT 95.39 385.50 Td (of ) Tj ET Q q 0 0 0 rg BT 104.06 385.50 Td (the ) Tj ET Q q 0 0 0 rg BT 117.06 385.50 Td (impact ) Tj ET Q q 0 0 0 rg BT 142.17 385.50 Td (of ) Tj ET Q q 0 0 0 rg BT 150.84 385.50 Td (adoption ) Tj ET Q q 0 0 0 rg BT 182.90 385.50 Td (of ) Tj ET Q q 0 0 0 rg BT 191.56 385.50 Td (the ) Tj ET Q q 0 0 0 rg BT 204.56 385.50 Td (standard ) Tj ET Q q 0 0 0 rg BT 237.04 385.50 Td (has ) Tj ET Q q 0 0 0 rg BT 251.77 385.50 Td (not ) Tj ET Q q 0 0 0 rg BT 264.77 385.50 Td (yet ) Tj ET Q q 0 0 0 rg BT 277.33 385.50 Td (been ) Tj ET Q q 0 0 0 rg BT 296.83 385.50 Td (determined. ) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 368.10 Td (4. Properties) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 350.70 Td (The ) Tj ET Q q 0 0 0 rg BT 87.59 350.70 Td (change ) Tj ET Q q 0 0 0 rg BT 115.32 350.70 Td (in ) Tj ET Q q 0 0 0 rg BT 123.55 350.70 Td (properties ) Tj ET Q q 0 0 0 rg BT 160.35 350.70 Td (is ) Tj ET Q q 0 0 0 rg BT 168.15 350.70 Td (as ) Tj ET Q q 0 0 0 rg BT 178.54 350.70 Td (follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 337.20000000000005 m 375.5 337.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 323.20000000000005 m 375.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 337.20000000000005 m 390.5 337.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375.5 323.20000000000005 m 390.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 337.20000000000005 m 465.5 337.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 323.20000000000005 m 465.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 337.20000000000005 m 540.5 337.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465.5 323.20000000000005 m 540.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 323.20000000000005 m 465.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 188.20000000000005 m 465.5 188.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 188.20000000000005 m 375.5 188.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 173.20000000000005 m 375.5 173.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375.5 188.20000000000005 m 390.5 188.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 173.20000000000005 m 390.5 173.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 188.20000000000005 m 465.5 188.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 173.20000000000005 m 465.5 173.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465.5 188.20000000000005 m 540.5 188.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 173.20000000000005 m 540.5 173.20000000000005 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 406.55 327.73 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.55 327.73 Td (December 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 312.73 Td (Balance, beginning of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 393.00 312.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 434.20 312.73 Td (729,089) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.00 312.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 312.73 Td (448,012) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 297.73 Td (Acquisitions) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 454.60 297.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 297.73 Td (347,267) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 282.73 Td (Capital expenditures) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 442.90 282.73 Td (6,099) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 282.73 Td (3,524) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 267.73 Td (Direct leasing costs) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 442.90 267.73 Td (4,198) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 267.73 Td (10,185) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 252.73 Td (Dispositions) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 454.60 252.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 510.95 252.73 Td (\(82,511) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 252.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 237.73 Td (Depreciation of hotel asset) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 446.80 237.73 Td (\(136) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 462.40 237.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 521.80 237.73 Td (\(271) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 237.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 222.73 Td (Provisions) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 454.60 222.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 521.80 222.73 Td (\(531) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 222.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 207.73 Td (Change in fair value) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 442.90 207.73 Td (1,938) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 207.73 Td (1,786) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 192.73 Td (Straight line rent and other changes) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 449.40 192.73 Td (493) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 192.73 Td (1,628) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 177.73 Td (Balance, end of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 393.00 177.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 434.20 177.73 Td (741,681) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.00 177.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 177.73 Td (729,089) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 154.30 Td (Included ) Tj ET Q q 0 0 0 rg BT 103.47 154.30 Td (within ) Tj ET Q q 0 0 0 rg BT 125.39 154.30 Td (properties ) Tj ET Q q 0 0 0 rg BT 162.05 154.30 Td (at ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 170.56 154.30 Td (March31, ) Tj ET Q q 0 0 0 rg BT 207.21 154.30 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 224.54 154.30 Td ( ) Tj ET Q q 0 0 0 rg BT 226.55 154.30 Td (are ) Tj ET Q q 0 0 0 rg BT 239.82 154.30 Td (the ) Tj ET Q q 0 0 0 rg BT 252.66 154.30 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 277.81 154.30 Td (interests ) Tj ET Q q 0 0 0 rg BT 309.27 154.30 Td (in ) Tj ET Q q 0 0 0 rg BT 317.34 154.30 Td (34 ) Tj ET Q q 0 0 0 rg BT 328.02 154.30 Td (investment ) Tj ET Q q 0 0 0 rg BT 367.71 154.30 Td (properties, ) Tj ET Q q 0 0 0 rg BT 406.53 154.30 Td (which ) Tj ET Q q 0 0 0 rg BT 428.45 154.30 Td (include ) Tj ET Q q 0 0 0 rg BT 455.15 154.30 Td (one ) Tj ET Q q 0 0 0 rg BT 470.16 154.30 Td (mixed-use ) Tj ET Q q 0 0 0 rg BT 508.11 154.30 Td (hotel ) Tj ET Q q 0 0 0 rg BT 527.01 154.30 Td (and ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 142.90 Td (of) Tj ET Q q 0 0 0 rg BT 78.36 142.90 Td (fice ) Tj ET Q q 0 0 0 rg BT 92.09 142.90 Td (asset ) Tj ET Q q 0 0 0 rg BT 112.32 142.90 Td (and ) Tj ET Q q 0 0 0 rg BT 126.91 142.90 Td (a ) Tj ET Q q 0 0 0 rg BT 132.85 142.90 Td (30% ) Tj ET Q q 0 0 0 rg BT 150.04 142.90 Td (interest ) Tj ET Q q 0 0 0 rg BT 177.19 142.90 Td (in ) Tj ET Q q 0 0 0 rg BT 184.85 142.90 Td (the ) Tj ET Q q 0 0 0 rg BT 197.29 142.90 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 222.02 142.90 Td (three ) Tj ET Q q 0 0 0 rg BT 241.38 142.90 Td (co-owned ) Tj ET Q q 0 0 0 rg BT 276.75 142.90 Td (properties ) Tj ET Q q 0 0 0 rg BT 313.00 142.90 Td (\(the ) Tj ET Q q 0 0 0 rg BT 328.02 142.90 Td ("Co-owned ) Tj ET Q q 0 0 0 rg BT 367.89 142.90 Td (Properties"\). ) Tj ET Q q 0 0 0 rg BT 412.42 142.90 Td (The ) Tj ET Q q 0 0 0 rg BT 427.44 142.90 Td (hotel ) Tj ET Q q 0 0 0 rg BT 445.94 142.90 Td (portion ) Tj ET Q q 0 0 0 rg BT 471.36 142.90 Td (of ) Tj ET Q q 0 0 0 rg BT 479.46 142.90 Td (the ) Tj ET Q q 0 0 0 rg BT 491.89 142.90 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 516.62 142.90 Td (mixed-) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 131.50 Td (use ) Tj ET Q q 0 0 0 rg BT 87.06 131.50 Td (asset ) Tj ET Q q 0 0 0 rg BT 108.19 131.50 Td (does ) Tj ET Q q 0 0 0 rg BT 127.59 131.50 Td (not ) Tj ET Q q 0 0 0 rg BT 140.92 131.50 Td (meet ) Tj ET Q q 0 0 0 rg BT 160.75 131.50 Td (the ) Tj ET Q q 0 0 0 rg BT 174.08 131.50 Td (definition ) Tj ET Q q 0 0 0 rg BT 207.77 131.50 Td (of ) Tj ET Q q 0 0 0 rg BT 216.77 131.50 Td (an ) Tj ET Q q 0 0 0 rg BT 227.94 131.50 Td (investment ) Tj ET Q q 0 0 0 rg BT 268.12 131.50 Td (property ) Tj ET Q q 0 0 0 rg BT 299.20 131.50 Td (under ) Tj ET Q q 0 0 0 rg BT 321.63 131.50 Td (IAS ) Tj ET Q q 0 0 0 rg BT 336.69 131.50 Td (40, ) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 350.02 131.50 Td (Investment ) Tj ET Q q 0 0 0 rg BT 390.64 131.50 Td (Properties) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 426.15 131.50 Td (, ) Tj ET Q q 0 0 0 rg BT 430.81 131.50 Td (and ) Tj ET Q q 0 0 0 rg BT 446.31 131.50 Td (accordingly ) Tj ET Q q 0 0 0 rg BT 488.22 131.50 Td (is ) Tj ET Q q 0 0 0 rg BT 496.35 131.50 Td (measured ) Tj ET Q q 0 0 0 rg BT 533.50 131.50 Td (at ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 120.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 88.46 120.10 Td (less ) Tj ET Q q 0 0 0 rg BT 104.48 120.10 Td (depreciation, ) Tj ET Q q 0 0 0 rg BT 151.26 120.10 Td (with ) Tj ET Q q 0 0 0 rg BT 167.28 120.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 211.89 120.10 Td (charged ) Tj ET Q q 0 0 0 rg BT 242.21 120.10 Td (to ) Tj ET Q q 0 0 0 rg BT 250.87 120.10 Td (income ) Tj ET Q q 0 0 0 rg BT 278.15 120.10 Td (over ) Tj ET Q q 0 0 0 rg BT 295.47 120.10 Td (the ) Tj ET Q q 0 0 0 rg BT 308.47 120.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 344.42 120.10 Td (useful ) Tj ET Q q 0 0 0 rg BT 367.38 120.10 Td (life ) Tj ET Q q 0 0 0 rg BT 379.50 120.10 Td (of ) Tj ET Q q 0 0 0 rg BT 388.17 120.10 Td (the ) Tj ET Q q 0 0 0 rg BT 401.17 120.10 Td (components ) Tj ET Q q 0 0 0 rg BT 445.78 120.10 Td (of ) Tj ET Q q 0 0 0 rg BT 454.44 120.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.44 120.10 Td (hotel ) Tj ET Q q 0 0 0 rg BT 486.50 120.10 Td (asset. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 100.70 Td (The ) Tj ET Q q 0 0 0 rg BT 87.54 100.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 105.15 100.70 Td ( ) Tj ET Q q 0 0 0 rg BT 107.26 100.70 Td (determines ) Tj ET Q q 0 0 0 rg BT 147.92 100.70 Td (the ) Tj ET Q q 0 0 0 rg BT 160.87 100.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 173.81 100.70 Td (value ) Tj ET Q q 0 0 0 rg BT 194.55 100.70 Td (of ) Tj ET Q q 0 0 0 rg BT 203.16 100.70 Td (investment ) Tj ET Q q 0 0 0 rg BT 242.95 100.70 Td (properties ) Tj ET Q q 0 0 0 rg BT 279.71 100.70 Td (based ) Tj ET Q q 0 0 0 rg BT 303.05 100.70 Td (upon ) Tj ET Q q 0 0 0 rg BT 322.50 100.70 Td (either ) Tj ET Q q 0 0 0 rg BT 344.10 100.70 Td (the ) Tj ET Q q 0 0 0 rg BT 357.05 100.70 Td (overall ) Tj ET Q q 0 0 0 rg BT 382.11 100.70 Td (income ) Tj ET Q q 0 0 0 rg BT 409.34 100.70 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 456.50 100.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 472.04 100.70 Td (method, ) Tj ET Q q 0 0 0 rg BT 502.31 100.70 Td (discounted ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 89.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 91.72 89.30 Td (flow ) Tj ET Q q 0 0 0 rg BT 108.84 89.30 Td (method, ) Tj ET Q q 0 0 0 rg BT 140.25 89.30 Td (direct ) Tj ET Q q 0 0 0 rg BT 162.57 89.30 Td (comparison ) Tj ET Q q 0 0 0 rg BT 206.10 89.30 Td (approach ) Tj ET Q q 0 0 0 rg BT 241.85 89.30 Td (or ) Tj ET Q q 0 0 0 rg BT 252.04 89.30 Td (through ) Tj ET Q q 0 0 0 rg BT 281.73 89.30 Td (a ) Tj ET Q q 0 0 0 rg BT 289.33 89.30 Td (combination ) Tj ET Q q 0 0 0 rg BT 334.60 89.30 Td (of ) Tj ET Q q 0 0 0 rg BT 344.36 89.30 Td (methods. ) Tj ET Q q 0 0 0 rg BT 379.03 89.30 Td (All ) Tj ET Q q 0 0 0 rg BT 390.95 89.30 Td (methods ) Tj ET Q q 0 0 0 rg BT 424.10 89.30 Td (are ) Tj ET Q q 0 0 0 rg BT 438.62 89.30 Td (generally ) Tj ET Q q 0 0 0 rg BT 473.50 89.30 Td (accepted ) Tj ET Q q 0 0 0 rg BT 508.39 89.30 Td (appraisal ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 77.90 Td (methodologies. ) Tj ET Q q 0 0 0 rg BT 127.64 77.90 Td (If ) Tj ET Q q 0 0 0 rg BT 134.78 77.90 Td (a ) Tj ET Q q 0 0 0 rg BT 141.92 77.90 Td (third ) Tj ET Q q 0 0 0 rg BT 159.87 77.90 Td (party ) Tj ET Q q 0 0 0 rg BT 180.00 77.90 Td (appraisal ) Tj ET Q q 0 0 0 rg BT 214.42 77.90 Td (is ) Tj ET Q q 0 0 0 rg BT 222.85 77.90 Td (not ) Tj ET Q q 0 0 0 rg BT 236.48 77.90 Td (obtained ) Tj ET Q q 0 0 0 rg BT 269.18 77.90 Td (for ) Tj ET Q q 0 0 0 rg BT 281.07 77.90 Td (a ) Tj ET Q q 0 0 0 rg BT 288.21 77.90 Td (property) Tj ET Q q 0 0 0 rg BT 316.22 77.90 Td (, ) Tj ET Q q 0 0 0 rg BT 321.19 77.90 Td (management ) Tj ET Q q 0 0 0 rg BT 369.46 77.90 Td (uses ) Tj ET Q q 0 0 0 rg BT 388.72 77.90 Td (one ) Tj ET Q q 0 0 0 rg BT 404.52 77.90 Td (or ) Tj ET Q q 0 0 0 rg BT 414.25 77.90 Td (a ) Tj ET Q q 0 0 0 rg BT 421.39 77.90 Td (combination ) Tj ET Q q 0 0 0 rg BT 466.20 77.90 Td (of ) Tj ET Q q 0 0 0 rg BT 475.50 77.90 Td (the ) Tj ET Q q 0 0 0 rg BT 489.14 77.90 Td (overall ) Tj ET Q q 0 0 0 rg BT 514.89 77.90 Td (income ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 66.50 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 119.85 66.50 Td (rate ) Tj ET Q q 0 0 0 rg BT 136.08 66.50 Td (method ) Tj ET Q q 0 0 0 rg BT 164.87 66.50 Td (and ) Tj ET Q q 0 0 0 rg BT 180.68 66.50 Td (the ) Tj ET Q q 0 0 0 rg BT 194.32 66.50 Td (discounted ) Tj ET Q q 0 0 0 rg BT 234.81 66.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 254.07 66.50 Td (flow ) Tj ET Q q 0 0 0 rg BT 270.73 66.50 Td (method. ) Tj ET Q q 0 0 0 rg BT 301.69 66.50 Td (In ) Tj ET Q q 0 0 0 rg BT 311.00 66.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 337.19 66.50 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 389.79 66.50 Td (the ) Tj ET Q q 0 0 0 rg BT 403.42 66.50 Td (direct ) Tj ET Q q 0 0 0 rg BT 425.28 66.50 Td (comparison ) Tj ET Q q 0 0 0 rg BT 468.36 66.50 Td (approach ) Tj ET Q q 0 0 0 rg BT 503.65 66.50 Td (is ) Tj ET Q q 0 0 0 rg BT 512.08 66.50 Td (used ) Tj ET Q q 0 0 0 rg BT 531.78 66.50 Td (by ) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 303.30 42.95 Td (Page 9) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 695.10 Td (comparing ) Tj ET Q q 0 0 0 rg BT 110.56 695.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 147.39 695.10 Td (to ) Tj ET Q q 0 0 0 rg BT 156.07 695.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 180.76 695.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 217.59 695.10 Td (that ) Tj ET Q q 0 0 0 rg BT 232.77 695.10 Td (have ) Tj ET Q q 0 0 0 rg BT 251.85 695.10 Td (sold, ) Tj ET Q q 0 0 0 rg BT 270.50 695.10 Td (but ) Tj ET Q q 0 0 0 rg BT 283.51 695.10 Td (adjusting ) Tj ET Q q 0 0 0 rg BT 316.88 695.10 Td (for ) Tj ET Q q 0 0 0 rg BT 328.16 695.10 Td (dif) Tj ET Q q 0 0 0 rg BT 336.26 695.10 Td (ferences ) Tj ET Q q 0 0 0 rg BT 368.33 695.10 Td (in ) Tj ET Q q 0 0 0 rg BT 376.57 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 389.59 695.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 413.87 695.10 Td (and ) Tj ET Q q 0 0 0 rg BT 429.05 695.10 Td (location ) Tj ET Q q 0 0 0 rg BT 458.09 695.10 Td (of ) Tj ET Q q 0 0 0 rg BT 466.77 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 479.79 695.10 Td (properties. ) Tj ET Q q 0 0 0 rg BT 518.79 695.10 Td (Under ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 683.70 Td (the ) Tj ET Q q 0 0 0 rg BT 85.67 683.70 Td (overall ) Tj ET Q q 0 0 0 rg BT 111.46 683.70 Td (income ) Tj ET Q q 0 0 0 rg BT 139.42 683.70 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 187.30 683.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 203.56 683.70 Td (method, ) Tj ET Q q 0 0 0 rg BT 234.56 683.70 Td (year ) Tj ET Q q 0 0 0 rg BT 252.55 683.70 Td (one ) Tj ET Q q 0 0 0 rg BT 268.39 683.70 Td (income ) Tj ET Q q 0 0 0 rg BT 296.34 683.70 Td (is ) Tj ET Q q 0 0 0 rg BT 304.81 683.70 Td (stabilized ) Tj ET Q q 0 0 0 rg BT 340.13 683.70 Td (and ) Tj ET Q q 0 0 0 rg BT 355.97 683.70 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 395.62 683.70 Td (at ) Tj ET Q q 0 0 0 rg BT 404.96 683.70 Td (a ) Tj ET Q q 0 0 0 rg BT 412.14 683.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 428.40 683.70 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 470.65 683.70 Td (for ) Tj ET Q q 0 0 0 rg BT 482.59 683.70 Td (each ) Tj ET Q q 0 0 0 rg BT 502.32 683.70 Td (investment ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 672.30 Td (property) Tj ET Q q 0 0 0 rg BT 100.01 672.30 Td (. ) Tj ET Q q 0 0 0 rg BT 104.97 672.30 Td (Under ) Tj ET Q q 0 0 0 rg BT 128.97 672.30 Td (the ) Tj ET Q q 0 0 0 rg BT 142.59 672.30 Td (discounted ) Tj ET Q q 0 0 0 rg BT 183.07 672.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 202.32 672.30 Td (flow ) Tj ET Q q 0 0 0 rg BT 218.96 672.30 Td (method, ) Tj ET Q q 0 0 0 rg BT 249.90 672.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 263.51 672.30 Td (values ) Tj ET Q q 0 0 0 rg BT 288.83 672.30 Td (are ) Tj ET Q q 0 0 0 rg BT 302.88 672.30 Td (primarily ) Tj ET Q q 0 0 0 rg BT 335.09 672.30 Td (determined ) Tj ET Q q 0 0 0 rg BT 376.86 672.30 Td (by ) Tj ET Q q 0 0 0 rg BT 387.88 672.30 Td (discounting ) Tj ET Q q 0 0 0 rg BT 430.09 672.30 Td (the ) Tj ET Q q 0 0 0 rg BT 443.71 672.30 Td (expected ) Tj ET Q q 0 0 0 rg BT 478.12 672.30 Td (future ) Tj ET Q q 0 0 0 rg BT 500.83 672.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 520.08 672.30 Td (flows, ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 660.90 Td (generally ) Tj ET Q q 0 0 0 rg BT 106.30 660.90 Td (over ) Tj ET Q q 0 0 0 rg BT 124.15 660.90 Td (a ) Tj ET Q q 0 0 0 rg BT 131.17 660.90 Td (term ) Tj ET Q q 0 0 0 rg BT 149.45 660.90 Td (of ) Tj ET Q q 0 0 0 rg BT 158.64 660.90 Td (10 ) Tj ET Q q 0 0 0 rg BT 170.00 660.90 Td (years, ) Tj ET Q q 0 0 0 rg BT 193.90 660.90 Td (including ) Tj ET Q q 0 0 0 rg BT 227.35 660.90 Td (a ) Tj ET Q q 0 0 0 rg BT 234.37 660.90 Td (terminal ) Tj ET Q q 0 0 0 rg BT 264.77 660.90 Td (value ) Tj ET Q q 0 0 0 rg BT 286.09 660.90 Td (based ) Tj ET Q q 0 0 0 rg BT 310.00 660.90 Td (on ) Tj ET Q q 0 0 0 rg BT 321.36 660.90 Td (the ) Tj ET Q q 0 0 0 rg BT 334.88 660.90 Td (application ) Tj ET Q q 0 0 0 rg BT 374.82 660.90 Td (of ) Tj ET Q q 0 0 0 rg BT 384.01 660.90 Td (a ) Tj ET Q q 0 0 0 rg BT 391.04 660.90 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 438.77 660.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 454.89 660.90 Td (to ) Tj ET Q q 0 0 0 rg BT 464.08 660.90 Td (estimated ) Tj ET Q q 0 0 0 rg BT 500.55 660.90 Td (year ) Tj ET Q q 0 0 0 rg BT 518.40 660.90 Td (1) Tj ET Q q 0 0 0 rg BT 522.16 660.90 Td (1 ) Tj ET Q q 0 0 0 rg BT 529.18 660.90 Td (net ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 649.50 Td (operating ) Tj ET Q q 0 0 0 rg BT 106.50 649.50 Td (income. ) Tj ET Q q 0 0 0 rg BT 135.79 649.50 Td ( ) Tj ET Q q 0 0 0 rg BT 137.80 649.50 Td (Capitalization ) Tj ET Q q 0 0 0 rg BT 186.58 649.50 Td (and ) Tj ET Q q 0 0 0 rg BT 201.59 649.50 Td (discount ) Tj ET Q q 0 0 0 rg BT 232.63 649.50 Td (rates ) Tj ET Q q 0 0 0 rg BT 251.96 649.50 Td (are ) Tj ET Q q 0 0 0 rg BT 265.23 649.50 Td (the ) Tj ET Q q 0 0 0 rg BT 278.07 649.50 Td (most ) Tj ET Q q 0 0 0 rg BT 296.97 649.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 333.63 649.50 Td (assumption ) Tj ET Q q 0 0 0 rg BT 375.48 649.50 Td (in ) Tj ET Q q 0 0 0 rg BT 383.56 649.50 Td (determining ) Tj ET Q q 0 0 0 rg BT 426.28 649.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 439.11 649.50 Td (value. ) Tj ET Q q 0 0 0 rg BT 461.79 649.50 Td (The ) Tj ET Q q 0 0 0 rg BT 477.23 649.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 494.84 649.50 Td ( ) Tj ET Q q 0 0 0 rg BT 496.85 649.50 Td (uses ) Tj ET Q q 0 0 0 rg BT 515.32 649.50 Td (leasing ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 638.10 Td (history) Tj ET Q q 0 0 0 rg BT 94.38 638.10 Td (, ) Tj ET Q q 0 0 0 rg BT 98.71 638.10 Td (market ) Tj ET Q q 0 0 0 rg BT 124.69 638.10 Td (reports, ) Tj ET Q q 0 0 0 rg BT 153.27 638.10 Td (tenant ) Tj ET Q q 0 0 0 rg BT 177.10 638.10 Td (profiles ) Tj ET Q q 0 0 0 rg BT 204.38 638.10 Td (and ) Tj ET Q q 0 0 0 rg BT 219.54 638.10 Td (available ) Tj ET Q q 0 0 0 rg BT 252.46 638.10 Td (appraisals, ) Tj ET Q q 0 0 0 rg BT 292.30 638.10 Td (among ) Tj ET Q q 0 0 0 rg BT 318.29 638.10 Td (other ) Tj ET Q q 0 0 0 rg BT 338.21 638.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 363.34 638.10 Td (in ) Tj ET Q q 0 0 0 rg BT 371.57 638.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 414.44 638.10 Td (the ) Tj ET Q q 0 0 0 rg BT 427.44 638.10 Td (most ) Tj ET Q q 0 0 0 rg BT 446.49 638.10 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 488.07 638.10 Td (assumptions. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 618.70 Td (The ) Tj ET Q q 0 0 0 rg BT 87.58 618.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 100.56 618.70 Td (values ) Tj ET Q q 0 0 0 rg BT 125.24 618.70 Td (of ) Tj ET Q q 0 0 0 rg BT 133.90 618.70 Td (investment ) Tj ET Q q 0 0 0 rg BT 173.73 618.70 Td (properties ) Tj ET Q q 0 0 0 rg BT 210.54 618.70 Td (are ) Tj ET Q q 0 0 0 rg BT 223.95 618.70 Td (measured ) Tj ET Q q 0 0 0 rg BT 260.75 618.70 Td (individually ) Tj ET Q q 0 0 0 rg BT 301.02 618.70 Td (without ) Tj ET Q q 0 0 0 rg BT 327.86 618.70 Td (consideration ) Tj ET Q q 0 0 0 rg BT 376.36 618.70 Td (to ) Tj ET Q q 0 0 0 rg BT 385.02 618.70 Td (their ) Tj ET Q q 0 0 0 rg BT 402.33 618.70 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 439.58 618.70 Td (value ) Tj ET Q q 0 0 0 rg BT 460.36 618.70 Td (on ) Tj ET Q q 0 0 0 rg BT 471.18 618.70 Td (a ) Tj ET Q q 0 0 0 rg BT 477.67 618.70 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 507.55 618.70 Td (basis. ) Tj ET Q q 0 0 0 rg BT 530.06 618.70 Td (No ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 607.30 Td (consideration ) Tj ET Q q 0 0 0 rg BT 120.69 607.30 Td (is ) Tj ET Q q 0 0 0 rg BT 128.66 607.30 Td (given ) Tj ET Q q 0 0 0 rg BT 149.63 607.30 Td (to ) Tj ET Q q 0 0 0 rg BT 158.47 607.30 Td (diversification ) Tj ET Q q 0 0 0 rg BT 208.02 607.30 Td (benefits ) Tj ET Q q 0 0 0 rg BT 237.65 607.30 Td (related ) Tj ET Q q 0 0 0 rg BT 263.82 607.30 Td (to ) Tj ET Q q 0 0 0 rg BT 272.66 607.30 Td (single ) Tj ET Q q 0 0 0 rg BT 295.36 607.30 Td (property ) Tj ET Q q 0 0 0 rg BT 326.29 607.30 Td (tenant ) Tj ET Q q 0 0 0 rg BT 350.30 607.30 Td (risk ) Tj ET Q q 0 0 0 rg BT 364.76 607.30 Td (and ) Tj ET Q q 0 0 0 rg BT 380.10 607.30 Td (geography) Tj ET Q q 0 0 0 rg BT 416.35 607.30 Td (, ) Tj ET Q q 0 0 0 rg BT 420.86 607.30 Td (the ) Tj ET Q q 0 0 0 rg BT 434.04 607.30 Td (value ) Tj ET Q q 0 0 0 rg BT 455.01 607.30 Td (of ) Tj ET Q q 0 0 0 rg BT 463.85 607.30 Td (assembling ) Tj ET Q q 0 0 0 rg BT 505.60 607.30 Td (a ) Tj ET Q q 0 0 0 rg BT 512.28 607.30 Td (portfolio ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 595.90 Td (or ) Tj ET Q q 0 0 0 rg BT 80.30 595.90 Td (to ) Tj ET Q q 0 0 0 rg BT 88.17 595.90 Td (the ) Tj ET Q q 0 0 0 rg BT 100.37 595.90 Td (utilization ) Tj ET Q q 0 0 0 rg BT 134.22 595.90 Td (of ) Tj ET Q q 0 0 0 rg BT 142.09 595.90 Td (a ) Tj ET Q q 0 0 0 rg BT 147.79 595.90 Td (common ) Tj ET Q q 0 0 0 rg BT 179.03 595.90 Td (management ) Tj ET Q q 0 0 0 rg BT 225.88 595.90 Td (platform, ) Tj ET Q q 0 0 0 rg BT 257.56 595.90 Td (amongst ) Tj ET Q q 0 0 0 rg BT 288.81 595.90 Td (other ) Tj ET Q q 0 0 0 rg BT 307.94 595.90 Td (benefits. ) Tj ET Q q 0 0 0 rg BT 338.50 595.90 Td (As ) Tj ET Q q 0 0 0 rg BT 348.96 595.90 Td (a ) Tj ET Q q 0 0 0 rg BT 354.66 595.90 Td (result, ) Tj ET Q q 0 0 0 rg BT 377.25 595.90 Td (the ) Tj ET Q q 0 0 0 rg BT 389.45 595.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 401.64 595.90 Td (value ) Tj ET Q q 0 0 0 rg BT 421.64 595.90 Td (of ) Tj ET Q q 0 0 0 rg BT 429.51 595.90 Td (the ) Tj ET Q q 0 0 0 rg BT 441.71 595.90 Td (REIT) Tj ET Q q 0 0 0 rg BT 461.05 595.90 Td (s ) Tj ET Q q 0 0 0 rg BT 466.31 595.90 Td (investment ) Tj ET Q q 0 0 0 rg BT 505.36 595.90 Td (properties ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 584.50 Td (taken ) Tj ET Q q 0 0 0 rg BT 93.16 584.50 Td (in ) Tj ET Q q 0 0 0 rg BT 101.33 584.50 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 138.52 584.50 Td (may ) Tj ET Q q 0 0 0 rg BT 155.35 584.50 Td (dif) Tj ET Q q 0 0 0 rg BT 163.44 584.50 Td (fer ) Tj ET Q q 0 0 0 rg BT 174.64 584.50 Td (from ) Tj ET Q q 0 0 0 rg BT 192.32 584.50 Td (the ) Tj ET Q q 0 0 0 rg BT 205.26 584.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 218.19 584.50 Td (value ) Tj ET Q q 0 0 0 rg BT 238.91 584.50 Td (of ) Tj ET Q q 0 0 0 rg BT 247.52 584.50 Td (investment ) Tj ET Q q 0 0 0 rg BT 287.30 584.50 Td (properties ) Tj ET Q q 0 0 0 rg BT 324.04 584.50 Td (measured ) Tj ET Q q 0 0 0 rg BT 360.79 584.50 Td (individually ) Tj ET Q q 0 0 0 rg BT 401.00 584.50 Td (in ) Tj ET Q q 0 0 0 rg BT 409.17 584.50 Td (the ) Tj ET Q q 0 0 0 rg BT 422.10 584.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 441.44 584.50 Td (s ) Tj ET Q q 0 0 0 rg BT 447.44 584.50 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 493.30 584.50 Td (statements ) Tj ET Q q 0 0 0 rg BT 533.51 584.50 Td (of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 573.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 102.87 573.10 Td (position. ) Tj ET Q q 0 0 0 rg BT 134.18 573.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 157.68 573.10 Td (the ) Tj ET Q q 0 0 0 rg BT 170.79 573.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 183.90 573.10 Td (value ) Tj ET Q q 0 0 0 rg BT 204.81 573.10 Td (hierarchy) Tj ET Q q 0 0 0 rg BT 236.28 573.10 Td (, ) Tj ET Q q 0 0 0 rg BT 240.74 573.10 Td (the ) Tj ET Q q 0 0 0 rg BT 253.85 573.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 266.96 573.10 Td (value ) Tj ET Q q 0 0 0 rg BT 287.87 573.10 Td (of ) Tj ET Q q 0 0 0 rg BT 296.66 573.10 Td (the ) Tj ET Q q 0 0 0 rg BT 309.78 573.10 Td (REIT) Tj ET Q q 0 0 0 rg BT 329.11 573.10 Td (s ) Tj ET Q q 0 0 0 rg BT 335.30 573.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 375.26 573.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 412.19 573.10 Td (is ) Tj ET Q q 0 0 0 rg BT 420.10 573.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 461.36 573.10 Td (using ) Tj ET Q q 0 0 0 rg BT 482.27 573.10 Td (the ) Tj ET Q q 0 0 0 rg BT 495.39 573.10 Td (methodology ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 561.70 Td (described ) Tj ET Q q 0 0 0 rg BT 107.95 561.70 Td (above ) Tj ET Q q 0 0 0 rg BT 131.34 561.70 Td (and ) Tj ET Q q 0 0 0 rg BT 146.50 561.70 Td (using ) Tj ET Q q 0 0 0 rg BT 167.29 561.70 Td (level ) Tj ET Q q 0 0 0 rg BT 185.48 561.70 Td (3 ) Tj ET Q q 0 0 0 rg BT 191.98 561.70 Td (inputs.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 542.30 Td (The ) Tj ET Q q 0 0 0 rg BT 87.69 542.30 Td (following ) Tj ET Q q 0 0 0 rg BT 120.27 542.30 Td (table ) Tj ET Q q 0 0 0 rg BT 139.43 542.30 Td (presents ) Tj ET Q q 0 0 0 rg BT 171.58 542.30 Td (a ) Tj ET Q q 0 0 0 rg BT 178.17 542.30 Td (summary ) Tj ET Q q 0 0 0 rg BT 212.47 542.30 Td (of ) Tj ET Q q 0 0 0 rg BT 221.24 542.30 Td (the ) Tj ET Q q 0 0 0 rg BT 234.33 542.30 Td (discount, ) Tj ET Q q 0 0 0 rg BT 267.79 542.30 Td (terminal ) Tj ET Q q 0 0 0 rg BT 297.76 542.30 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 345.07 542.30 Td (and ) Tj ET Q q 0 0 0 rg BT 360.33 542.30 Td (stabilized ) Tj ET Q q 0 0 0 rg BT 395.08 542.30 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 442.39 542.30 Td (rates ) Tj ET Q q 0 0 0 rg BT 461.98 542.30 Td (for ) Tj ET Q q 0 0 0 rg BT 473.34 542.30 Td (the ) Tj ET Q q 0 0 0 rg BT 486.43 542.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 499.52 542.30 Td (value ) Tj ET Q q 0 0 0 rg BT 520.41 542.30 Td (of ) Tj ET Q q 0 0 0 rg BT 529.18 542.30 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 530.90 Td (REIT) Tj ET Q q 0 0 0 rg BT 91.34 530.90 Td (s ) Tj ET Q q 0 0 0 rg BT 96.91 530.90 Td (properties. ) Tj ET Q q 0 0 0 rg BT 135.40 530.90 Td (In ) Tj ET Q q 0 0 0 rg BT 143.57 530.90 Td (cases ) Tj ET Q q 0 0 0 rg BT 165.60 530.90 Td (where ) Tj ET Q q 0 0 0 rg BT 188.49 530.90 Td (appraisals ) Tj ET Q q 0 0 0 rg BT 225.68 530.90 Td (have ) Tj ET Q q 0 0 0 rg BT 244.25 530.90 Td (been ) Tj ET Q q 0 0 0 rg BT 263.26 530.90 Td (obtained, ) Tj ET Q q 0 0 0 rg BT 296.99 530.90 Td (the ) Tj ET Q q 0 0 0 rg BT 309.50 530.90 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 334.31 530.90 Td (measurement ) Tj ET Q q 0 0 0 rg BT 383.62 530.90 Td (of ) Tj ET Q q 0 0 0 rg BT 391.80 530.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 404.30 530.90 Td (value ) Tj ET Q q 0 0 0 rg BT 424.60 530.90 Td (is ) Tj ET Q q 0 0 0 rg BT 431.90 530.90 Td (consistent ) Tj ET Q q 0 0 0 rg BT 468.66 530.90 Td (with ) Tj ET Q q 0 0 0 rg BT 484.19 530.90 Td (such ) Tj ET Q q 0 0 0 rg BT 502.32 530.90 Td (appraisals:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 520.4 m 198.5 520.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 520.4 m 255.5 520.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 198.5 504.4 m 255.5 504.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 520.4 m 312.5 520.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 255.5 504.4 m 312.5 504.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 520.4 m 369.5 520.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 312.5 504.4 m 369.5 504.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 520.4 m 426.5 520.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 504.4 m 426.5 504.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 520.4 m 483.5 520.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 504.4 m 483.5 504.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 520.4 m 540.5 520.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 504.4 m 540.5 504.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 471.4 m 198.5 471.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 198.5 471.4 m 255.5 471.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 255.5 471.4 m 312.5 471.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 312.5 471.4 m 369.5 471.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 471.4 m 426.5 471.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 471.4 m 483.5 471.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 471.4 m 540.5 471.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 198.5 471.4 m 255.5 471.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 255.5 471.4 m 312.5 471.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 312.5 471.4 m 369.5 471.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 471.4 m 426.5 471.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 471.4 m 483.5 471.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 471.4 m 540.5 471.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 430.4 m 198.5 430.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 430.4 m 255.5 430.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 430.4 m 312.5 430.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 430.4 m 369.5 430.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 430.4 m 426.5 430.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 430.4 m 483.5 430.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 430.4 m 540.5 430.4 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 255.75 508.93 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 420.25 508.93 Td (December 31, 2015) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 218.65 485.43 Td (Discount) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 237.70 475.93 Td (rate) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 277.05 494.93 Td (Terminal) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 259.60 485.43 Td (capitalization) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 294.70 475.93 Td (rate) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 315.35 485.43 Td (Capitalization) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 345.50 475.93 Td (rate) Tj ET Q BT /F3 9.50 Tf ET BT /F3 6.17 Tf ET q 0 0 0 rg BT 359.79 478.36 Td (\(1\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 392.65 485.43 Td (Discount) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 409.55 475.93 Td (rate) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 450.55 494.93 Td (Terminal) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 434.95 485.43 Td (capitalization) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 466.55 475.93 Td (rate) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 490.20 485.43 Td (Capitalization) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.35 475.93 Td (rate) Tj ET Q BT /F2 9.50 Tf ET BT /F2 6.17 Tf ET q 0 0 0 rg BT 530.77 478.36 Td (\(1\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 461.98 Td (Minimum) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 232.85 461.98 Td (7.00) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 248.05 461.98 Td (%) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 289.85 461.98 Td (6.25) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 305.05 461.98 Td (%) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 346.85 461.98 Td (4.50) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 362.05 461.98 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 403.85 461.98 Td (7.00) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 419.05 461.98 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 460.85 461.98 Td (6.25) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 476.05 461.98 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.85 461.98 Td (4.50) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 533.05 461.98 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 448.98 Td (Maximum) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 228.50 448.98 Td (11.00) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 248.05 448.98 Td (%) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 289.85 448.98 Td (9.00) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 305.05 448.98 Td (%) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 342.55 448.98 Td (13.17) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 362.05 448.98 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 399.55 448.98 Td (11.00) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 419.05 448.98 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 460.85 448.98 Td (9.00) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 476.05 448.98 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 448.98 Td (13.17) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 533.05 448.98 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 434.93 Td (Weighted average) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 232.85 434.93 Td (7.83) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 248.05 434.93 Td (%) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 289.85 434.93 Td (6.93) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 305.05 434.93 Td (%) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 346.85 434.93 Td (7.66) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 362.05 434.93 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 403.85 434.93 Td (7.83) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 419.05 434.93 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 460.85 434.93 Td (6.93) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 476.05 434.93 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.85 434.93 Td (7.74) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 533.05 434.93 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 72.00 421.30 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 82.01 421.30 Td (Represents ) Tj ET Q q 0 0 0 rg BT 117.55 421.30 Td (the ) Tj ET Q q 0 0 0 rg BT 128.66 421.30 Td (stabilized ) Tj ET Q q 0 0 0 rg BT 158.01 421.30 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 197.93 421.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 211.23 421.30 Td (on ) Tj ET Q q 0 0 0 rg BT 220.52 421.30 Td (the ) Tj ET Q q 0 0 0 rg BT 231.64 421.30 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 253.11 421.30 Td (properties ) Tj ET Q q 0 0 0 rg BT 284.28 421.30 Td (based ) Tj ET Q q 0 0 0 rg BT 304.15 421.30 Td (on ) Tj ET Q q 0 0 0 rg BT 313.44 421.30 Td (management's ) Tj ET Q q 0 0 0 rg BT 358.26 421.30 Td (estimate ) Tj ET Q q 0 0 0 rg BT 385.05 421.30 Td (of ) Tj ET Q q 0 0 0 rg BT 392.52 421.30 Td (stabilized ) Tj ET Q q 0 0 0 rg BT 421.86 421.30 Td (NOI. ) Tj ET Q q 0 0 0 rg BT 437.22 421.30 Td (The ) Tj ET Q q 0 0 0 rg BT 450.52 421.30 Td (figures ) Tj ET Q q 0 0 0 rg BT 472.20 421.30 Td (presented ) Tj ET Q q 0 0 0 rg BT 503.38 421.30 Td (are ) Tj ET Q q 0 0 0 rg BT 514.85 421.30 Td (inclusive ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 72.00 411.70 Td (of ) Tj ET Q q 0 0 0 rg BT 79.78 411.70 Td (both ) Tj ET Q q 0 0 0 rg BT 94.85 411.70 Td (those ) Tj ET Q q 0 0 0 rg BT 113.20 411.70 Td (properties ) Tj ET Q q 0 0 0 rg BT 144.68 411.70 Td (where ) Tj ET Q q 0 0 0 rg BT 164.84 411.70 Td (the ) Tj ET Q q 0 0 0 rg BT 176.27 411.70 Td (direct ) Tj ET Q q 0 0 0 rg BT 194.61 411.70 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 234.85 411.70 Td (approach ) Tj ET Q q 0 0 0 rg BT 264.51 411.70 Td (has ) Tj ET Q q 0 0 0 rg BT 277.39 411.70 Td (been ) Tj ET Q q 0 0 0 rg BT 294.28 411.70 Td (used ) Tj ET Q q 0 0 0 rg BT 310.81 411.70 Td (as ) Tj ET Q q 0 0 0 rg BT 320.05 411.70 Td (well ) Tj ET Q q 0 0 0 rg BT 333.65 411.70 Td (as ) Tj ET Q q 0 0 0 rg BT 342.88 411.70 Td (those ) Tj ET Q q 0 0 0 rg BT 361.23 411.70 Td (properties ) Tj ET Q q 0 0 0 rg BT 392.71 411.70 Td (where ) Tj ET Q q 0 0 0 rg BT 412.88 411.70 Td (the ) Tj ET Q q 0 0 0 rg BT 424.30 411.70 Td (primary ) Tj ET Q q 0 0 0 rg BT 448.47 411.70 Td (valuation ) Tj ET Q q 0 0 0 rg BT 477.04 411.70 Td (methodology ) Tj ET Q q 0 0 0 rg BT 516.91 411.70 Td (was ) Tj ET Q q 0 0 0 rg BT 530.87 411.70 Td (the ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 72.00 402.10 Td (discounted ) Tj ET Q q 0 0 0 rg BT 105.56 402.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 121.24 402.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 134.73 402.10 Td (approach. ) Tj ET Q q 0 0 0 rg BT 165.73 402.10 Td ( ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 384.70 Td (At ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 82.03 384.70 Td (March31, ) Tj ET Q q 0 0 0 rg BT 119.33 384.70 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 136.66 384.70 Td (, ) Tj ET Q q 0 0 0 rg BT 141.49 384.70 Td (a ) Tj ET Q q 0 0 0 rg BT 148.49 384.70 Td (25 ) Tj ET Q q 0 0 0 rg BT 159.82 384.70 Td (basis-point ) Tj ET Q q 0 0 0 rg BT 200.16 384.70 Td (increase ) Tj ET Q q 0 0 0 rg BT 232.27 384.70 Td (in ) Tj ET Q q 0 0 0 rg BT 241.00 384.70 Td (discount, ) Tj ET Q q 0 0 0 rg BT 274.85 384.70 Td (terminal ) Tj ET Q q 0 0 0 rg BT 305.22 384.70 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 352.93 384.70 Td (and ) Tj ET Q q 0 0 0 rg BT 368.59 384.70 Td (stabilized ) Tj ET Q q 0 0 0 rg BT 403.74 384.70 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 451.45 384.70 Td (rates ) Tj ET Q q 0 0 0 rg BT 471.43 384.70 Td (would ) Tj ET Q q 0 0 0 rg BT 494.45 384.70 Td (decrease ) Tj ET Q q 0 0 0 rg BT 529.16 384.70 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 373.30 Td (estimated ) Tj ET Q q 0 0 0 rg BT 107.95 373.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 120.94 373.30 Td (value ) Tj ET Q q 0 0 0 rg BT 141.73 373.30 Td (of ) Tj ET Q q 0 0 0 rg BT 150.39 373.30 Td (the ) Tj ET Q q 0 0 0 rg BT 163.39 373.30 Td (REIT) Tj ET Q q 0 0 0 rg BT 182.73 373.30 Td (s ) Tj ET Q q 0 0 0 rg BT 188.79 373.30 Td (properties ) Tj ET Q q 0 0 0 rg BT 225.60 373.30 Td (by ) Tj ET Q q 0 0 0 rg BT 236.00 373.30 Td (approximately ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 286.66 373.30 Td ($27.3 ) Tj ET Q q 0 0 0 rg BT 308.32 373.30 Td (million) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 330.40 373.30 Td ( ) Tj ET Q q 0 0 0 rg BT 332.57 373.30 Td (\() Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 335.16 373.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 386.26 373.30 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 403.59 373.30 Td ( ) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 405.75 373.30 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 410.50 373.30 Td ( ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 412.67 373.30 Td ($27.3 ) Tj ET Q q 0 0 0 rg BT 434.33 373.30 Td (million) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 456.41 373.30 Td (\). ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 355.90 Td (The ) Tj ET Q q 0 0 0 rg BT 87.54 355.90 Td (following ) Tj ET Q q 0 0 0 rg BT 119.96 355.90 Td (table ) Tj ET Q q 0 0 0 rg BT 138.97 355.90 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 183.07 355.90 Td (the ) Tj ET Q q 0 0 0 rg BT 196.02 355.90 Td (number ) Tj ET Q q 0 0 0 rg BT 224.55 355.90 Td (of ) Tj ET Q q 0 0 0 rg BT 233.16 355.90 Td (external ) Tj ET Q q 0 0 0 rg BT 262.99 355.90 Td (appraisals ) Tj ET Q q 0 0 0 rg BT 300.61 355.90 Td (obtained ) Tj ET Q q 0 0 0 rg BT 332.62 355.90 Td (during ) Tj ET Q q 0 0 0 rg BT 356.39 355.90 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 369.33 355.90 Td (three ) Tj ET Q q 0 0 0 rg BT 389.20 355.90 Td (months ) Tj ET Q q 0 0 0 rg BT 416.87 355.90 Td (ended ) Tj ET Q q 0 0 0 rg BT 440.64 355.90 Td (March ) Tj ET Q q 0 0 0 rg BT 464.40 355.90 Td (31, ) Tj ET Q q 0 0 0 rg BT 477.35 355.90 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 494.68 355.90 Td ( ) Tj ET Q q 0 0 0 rg BT 496.79 355.90 Td (and ) Tj ET Q q 0 0 0 rg BT 511.90 355.90 Td (the ) Tj ET Q q 0 0 0 rg BT 524.85 355.90 Td (year ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 344.50 Td (ended ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 95.83 344.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 146.93 344.50 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 164.26 344.50 Td ( ) Tj ET Q q 0 0 0 rg BT 166.42 344.50 Td (and ) Tj ET Q q 0 0 0 rg BT 181.59 344.50 Td (the ) Tj ET Q q 0 0 0 rg BT 194.58 344.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 207.57 344.50 Td (value ) Tj ET Q q 0 0 0 rg BT 228.36 344.50 Td (represented ) Tj ET Q q 0 0 0 rg BT 272.11 344.50 Td (by ) Tj ET Q q 0 0 0 rg BT 282.50 344.50 Td (those ) Tj ET Q q 0 0 0 rg BT 303.73 344.50 Td (appraisals:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 334 m 416.5 334 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 312 m 416.5 312 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 334 m 478.5 334 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416.5 312 m 478.5 312 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 334 m 540.5 334 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478.5 312 m 540.5 312 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416.5 312 m 478.5 312 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 237 m 416.5 237 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 237 m 478.5 237 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 237 m 540.5 237 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 436.05 324.58 Td (Number of) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 436.90 315.08 Td (properties) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 500.60 316.53 Td (Fair value) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 301.53 Td (March 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 467.60 301.53 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 481.00 301.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 301.53 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 286.53 Td (June 30, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 470.65 286.53 Td (5) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 286.53 Td (40,460) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 271.53 Td (September 30, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 470.65 271.53 Td (2) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 271.53 Td (27,020) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 256.53 Td (December 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 470.65 256.53 Td (4) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 256.53 Td (59,240) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 241.53 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 467.60 241.53 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 241.53 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 220.10 Td (5. ) Tj ET Q q 0 0 0 rg BT 80.67 220.10 Td ( ) Tj ET Q q 0 0 0 rg BT 82.83 220.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.00 220.10 Td ( ) Tj ET Q q 0 0 0 rg BT 87.17 220.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.33 220.10 Td ( ) Tj ET Q q 0 0 0 rg BT 91.50 220.10 Td ( ) Tj ET Q q 0 0 0 rg BT 93.66 220.10 Td ( ) Tj ET Q q 0 0 0 rg BT 95.83 220.10 Td ( ) Tj ET Q q 0 0 0 rg BT 98.00 220.10 Td (Co-Owned ) Tj ET Q q 0 0 0 rg BT 139.12 220.10 Td (Properties) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 202.70 Td (The ) Tj ET Q q 0 0 0 rg BT 87.44 202.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 105.05 202.70 Td ( ) Tj ET Q q 0 0 0 rg BT 107.07 202.70 Td (has ) Tj ET Q q 0 0 0 rg BT 121.65 202.70 Td (an ) Tj ET Q q 0 0 0 rg BT 132.33 202.70 Td (undivided ) Tj ET Q q 0 0 0 rg BT 167.71 202.70 Td (co-owned ) Tj ET Q q 0 0 0 rg BT 203.50 202.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 231.07 202.70 Td (in ) Tj ET Q q 0 0 0 rg BT 239.15 202.70 Td (three ) Tj ET Q q 0 0 0 rg BT 258.92 202.70 Td (of) Tj ET Q q 0 0 0 rg BT 265.29 202.70 Td (fice ) Tj ET Q q 0 0 0 rg BT 279.43 202.70 Td (properties ) Tj ET Q q 0 0 0 rg BT 316.09 202.70 Td (located ) Tj ET Q q 0 0 0 rg BT 343.24 202.70 Td (in ) Tj ET Q q 0 0 0 rg BT 351.32 202.70 Td (St. ) Tj ET Q q 0 0 0 rg BT 362.87 202.70 Td (John) Tj ET Q q 0 0 0 rg BT 381.35 202.70 Td (s, ) Tj ET Q q 0 0 0 rg BT 389.44 202.70 Td (Newfoundland. ) Tj ET Q q 0 0 0 rg BT 443.30 202.70 Td (The ) Tj ET Q q 0 0 0 rg BT 458.74 202.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 476.35 202.70 Td ( ) Tj ET Q q 0 0 0 rg BT 478.37 202.70 Td (initially ) Tj ET Q q 0 0 0 rg BT 503.77 202.70 Td (acquired ) Tj ET Q q 0 0 0 rg BT 535.67 202.70 Td (a ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 191.30 Td (10% ) Tj ET Q q 0 0 0 rg BT 89.76 191.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 117.47 191.30 Td (in ) Tj ET Q q 0 0 0 rg BT 125.70 191.30 Td (the ) Tj ET Q q 0 0 0 rg BT 138.70 191.30 Td (Co-owned ) Tj ET Q q 0 0 0 rg BT 176.37 191.30 Td (Properties ) Tj ET Q q 0 0 0 rg BT 214.04 191.30 Td (on ) Tj ET Q q 0 0 0 rg BT 224.87 191.30 Td (June ) Tj ET Q q 0 0 0 rg BT 243.93 191.30 Td (30, ) Tj ET Q q 0 0 0 rg BT 256.93 191.30 Td (2015 ) Tj ET Q q 0 0 0 rg BT 276.43 191.30 Td (and ) Tj ET Q q 0 0 0 rg BT 291.59 191.30 Td (increased ) Tj ET Q q 0 0 0 rg BT 327.54 191.30 Td (its ) Tj ET Q q 0 0 0 rg BT 337.50 191.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 365.21 191.30 Td (to ) Tj ET Q q 0 0 0 rg BT 373.88 191.30 Td (30% ) Tj ET Q q 0 0 0 rg BT 391.64 191.30 Td (on ) Tj ET Q q 0 0 0 rg BT 402.47 191.30 Td (December ) Tj ET Q q 0 0 0 rg BT 440.57 191.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 453.56 191.30 Td (2015.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 173.90 Td (The ) Tj ET Q q 0 0 0 rg BT 86.52 173.90 Td (REIT) Tj ET Q q 0 0 0 rg BT 104.13 173.90 Td ( ) Tj ET Q q 0 0 0 rg BT 105.23 173.90 Td (has ) Tj ET Q q 0 0 0 rg BT 118.89 173.90 Td (entered ) Tj ET Q q 0 0 0 rg BT 146.41 173.90 Td (into ) Tj ET Q q 0 0 0 rg BT 160.07 173.90 Td (a ) Tj ET Q q 0 0 0 rg BT 165.51 173.90 Td (co-ownership ) Tj ET Q q 0 0 0 rg BT 212.93 173.90 Td (agreement ) Tj ET Q q 0 0 0 rg BT 251.28 173.90 Td (with ) Tj ET Q q 0 0 0 rg BT 266.23 173.90 Td (the ) Tj ET Q q 0 0 0 rg BT 278.16 173.90 Td (co-owner ) Tj ET Q q 0 0 0 rg BT 311.29 173.90 Td (in ) Tj ET Q q 0 0 0 rg BT 318.45 173.90 Td (connection ) Tj ET Q q 0 0 0 rg BT 357.24 173.90 Td (with ) Tj ET Q q 0 0 0 rg BT 372.19 173.90 Td (the ) Tj ET Q q 0 0 0 rg BT 384.12 173.90 Td (three ) Tj ET Q q 0 0 0 rg BT 402.98 173.90 Td (properties. ) Tj ET Q q 0 0 0 rg BT 440.82 173.90 Td (The ) Tj ET Q q 0 0 0 rg BT 455.34 173.90 Td (co-ownership ) Tj ET Q q 0 0 0 rg BT 502.77 173.90 Td (agreement ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 162.50 Td (includes ) Tj ET Q q 0 0 0 rg BT 102.92 162.50 Td (a ) Tj ET Q q 0 0 0 rg BT 109.59 162.50 Td (put-call ) Tj ET Q q 0 0 0 rg BT 137.04 162.50 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 183.55 162.50 Td (that ) Tj ET Q q 0 0 0 rg BT 198.88 162.50 Td (provides ) Tj ET Q q 0 0 0 rg BT 230.66 162.50 Td (the ) Tj ET Q q 0 0 0 rg BT 243.83 162.50 Td (co-owner ) Tj ET Q q 0 0 0 rg BT 278.20 162.50 Td (the ) Tj ET Q q 0 0 0 rg BT 291.37 162.50 Td (right ) Tj ET Q q 0 0 0 rg BT 308.86 162.50 Td (to ) Tj ET Q q 0 0 0 rg BT 317.69 162.50 Td (require ) Tj ET Q q 0 0 0 rg BT 344.28 162.50 Td (the ) Tj ET Q q 0 0 0 rg BT 357.44 162.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 375.05 162.50 Td ( ) Tj ET Q q 0 0 0 rg BT 377.39 162.50 Td (to ) Tj ET Q q 0 0 0 rg BT 386.22 162.50 Td (increase ) Tj ET Q q 0 0 0 rg BT 418.01 162.50 Td (its ) Tj ET Q q 0 0 0 rg BT 428.14 162.50 Td (ownership ) Tj ET Q q 0 0 0 rg BT 465.98 162.50 Td (to; ) Tj ET Q q 0 0 0 rg BT 476.98 162.50 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 486.23 162.50 Td (49% ) Tj ET Q q 0 0 0 rg BT 504.16 162.50 Td (on ) Tj ET Q q 0 0 0 rg BT 515.16 162.50 Td (or ) Tj ET Q q 0 0 0 rg BT 524.42 162.50 Td (after ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 151.10 Td (June ) Tj ET Q q 0 0 0 rg BT 91.22 151.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 100.05 151.10 Td (2016; ) Tj ET Q q 0 0 0 rg BT 121.87 151.10 Td (and ) Tj ET Q q 0 0 0 rg BT 137.20 151.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 148.17 151.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 170.42 151.10 Td (on ) Tj ET Q q 0 0 0 rg BT 181.41 151.10 Td (or ) Tj ET Q q 0 0 0 rg BT 190.67 151.10 Td (after ) Tj ET Q q 0 0 0 rg BT 208.58 151.10 Td (December ) Tj ET Q q 0 0 0 rg BT 246.84 151.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 255.67 151.10 Td (2016. ) Tj ET Q q 0 0 0 rg BT 277.35 151.10 Td (The ) Tj ET Q q 0 0 0 rg BT 293.10 151.10 Td (REIT) Tj ET Q q 0 0 0 rg BT 310.71 151.10 Td ( ) Tj ET Q q 0 0 0 rg BT 313.04 151.10 Td (also ) Tj ET Q q 0 0 0 rg BT 329.66 151.10 Td (has ) Tj ET Q q 0 0 0 rg BT 344.54 151.10 Td (the ) Tj ET Q q 0 0 0 rg BT 357.70 151.10 Td (right ) Tj ET Q q 0 0 0 rg BT 375.19 151.10 Td (to ) Tj ET Q q 0 0 0 rg BT 384.01 151.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 415.79 151.10 Td (its ) Tj ET Q q 0 0 0 rg BT 425.91 151.10 Td (ownership ) Tj ET Q q 0 0 0 rg BT 463.74 151.10 Td (in ) Tj ET Q q 0 0 0 rg BT 472.13 151.10 Td (the ) Tj ET Q q 0 0 0 rg BT 485.29 151.10 Td (three ) Tj ET Q q 0 0 0 rg BT 505.37 151.10 Td (properties ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 139.70 Td (by ) Tj ET Q q 0 0 0 rg BT 82.40 139.70 Td (such ) Tj ET Q q 0 0 0 rg BT 101.02 139.70 Td (amounts ) Tj ET Q q 0 0 0 rg BT 133.07 139.70 Td (and ) Tj ET Q q 0 0 0 rg BT 148.23 139.70 Td (during ) Tj ET Q q 0 0 0 rg BT 172.05 139.70 Td (such ) Tj ET Q q 0 0 0 rg BT 190.68 139.70 Td (periods.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 122.30 Td (The ) Tj ET Q q 0 0 0 rg BT 87.76 122.30 Td (purchase ) Tj ET Q q 0 0 0 rg BT 122.15 122.30 Td (price ) Tj ET Q q 0 0 0 rg BT 141.37 122.30 Td (for ) Tj ET Q q 0 0 0 rg BT 152.80 122.30 Td (any ) Tj ET Q q 0 0 0 rg BT 167.70 122.30 Td (additional ) Tj ET Q q 0 0 0 rg BT 203.39 122.30 Td (ownership ) Tj ET Q q 0 0 0 rg BT 241.23 122.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 269.12 122.30 Td (under ) Tj ET Q q 0 0 0 rg BT 291.38 122.30 Td (the ) Tj ET Q q 0 0 0 rg BT 304.54 122.30 Td (put-call ) Tj ET Q q 0 0 0 rg BT 332.00 122.30 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 378.50 122.30 Td (is ) Tj ET Q q 0 0 0 rg BT 386.47 122.30 Td (the ) Tj ET Q q 0 0 0 rg BT 399.64 122.30 Td (greater ) Tj ET Q q 0 0 0 rg BT 426.66 122.30 Td (of; ) Tj ET Q q 0 0 0 rg BT 437.66 122.30 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 446.91 122.30 Td (the ) Tj ET Q q 0 0 0 rg BT 460.08 122.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 473.24 122.30 Td (market ) Tj ET Q q 0 0 0 rg BT 499.39 122.30 Td (value ) Tj ET Q q 0 0 0 rg BT 520.35 122.30 Td (of ) Tj ET Q q 0 0 0 rg BT 529.19 122.30 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 110.90 Td (co-owner's ) Tj ET Q q 0 0 0 rg BT 111.56 110.90 Td (interest ) Tj ET Q q 0 0 0 rg BT 139.25 110.90 Td (in ) Tj ET Q q 0 0 0 rg BT 147.44 110.90 Td (the ) Tj ET Q q 0 0 0 rg BT 160.41 110.90 Td (three ) Tj ET Q q 0 0 0 rg BT 180.30 110.90 Td (properties; ) Tj ET Q q 0 0 0 rg BT 219.25 110.90 Td (and ) Tj ET Q q 0 0 0 rg BT 234.38 110.90 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 245.16 110.90 Td (the ) Tj ET Q q 0 0 0 rg BT 258.13 110.90 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 297.07 110.90 Td (cost ) Tj ET Q q 0 0 0 rg BT 313.50 110.90 Td (of ) Tj ET Q q 0 0 0 rg BT 322.14 110.90 Td (the ) Tj ET Q q 0 0 0 rg BT 335.10 110.90 Td (properties, ) Tj ET Q q 0 0 0 rg BT 374.05 110.90 Td (plus ) Tj ET Q q 0 0 0 rg BT 390.47 110.90 Td (the ) Tj ET Q q 0 0 0 rg BT 403.44 110.90 Td (dif) Tj ET Q q 0 0 0 rg BT 411.53 110.90 Td (ference ) Tj ET Q q 0 0 0 rg BT 439.65 110.90 Td (between ) Tj ET Q q 0 0 0 rg BT 471.24 110.90 Td (a ) Tj ET Q q 0 0 0 rg BT 477.71 110.90 Td (seven ) Tj ET Q q 0 0 0 rg BT 500.63 110.90 Td (percent ) Tj ET Q q 0 0 0 rg BT 528.75 110.90 Td (per ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 99.50 Td (annum ) Tj ET Q q 0 0 0 rg BT 97.12 99.50 Td (yield ) Tj ET Q q 0 0 0 rg BT 114.43 99.50 Td (on ) Tj ET Q q 0 0 0 rg BT 124.40 99.50 Td (amounts ) Tj ET Q q 0 0 0 rg BT 155.57 99.50 Td (invested ) Tj ET Q q 0 0 0 rg BT 185.89 99.50 Td (to ) Tj ET Q q 0 0 0 rg BT 193.68 99.50 Td (acquire ) Tj ET Q q 0 0 0 rg BT 220.53 99.50 Td (the ) Tj ET Q q 0 0 0 rg BT 232.66 99.50 Td (three ) Tj ET Q q 0 0 0 rg BT 251.71 99.50 Td (properties ) Tj ET Q q 0 0 0 rg BT 287.65 99.50 Td (and ) Tj ET Q q 0 0 0 rg BT 301.94 99.50 Td (net ) Tj ET Q q 0 0 0 rg BT 314.07 99.50 Td (distributions ) Tj ET Q q 0 0 0 rg BT 356.94 99.50 Td (to ) Tj ET Q q 0 0 0 rg BT 364.73 99.50 Td (the ) Tj ET Q q 0 0 0 rg BT 376.86 99.50 Td (co-owner) Tj ET Q q 0 0 0 rg BT 408.47 99.50 Td (. ) Tj ET Q q 0 0 0 rg BT 411.85 99.50 Td (The ) Tj ET Q q 0 0 0 rg BT 426.57 99.50 Td (co-owner) Tj ET Q q 0 0 0 rg BT 458.89 99.50 Td () Tj ET Q q 0 0 0 rg BT 460.49 99.50 Td (s ) Tj ET Q q 0 0 0 rg BT 465.68 99.50 Td (and ) Tj ET Q q 0 0 0 rg BT 479.97 99.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 499.31 99.50 Td (s ) Tj ET Q q 0 0 0 rg BT 504.50 99.50 Td (respective ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 88.10 Td (put-call ) Tj ET Q q 0 0 0 rg BT 99.28 88.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 120.50 88.10 Td (expire ) Tj ET Q q 0 0 0 rg BT 143.88 88.10 Td (on ) Tj ET Q q 0 0 0 rg BT 154.72 88.10 Td (December ) Tj ET Q q 0 0 0 rg BT 192.81 88.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 205.81 88.10 Td (2016. ) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.25 42.95 Td (Page 10) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 686.10 Td (6. ) Tj ET Q q 0 0 0 rg BT 80.67 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 82.83 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.00 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 87.17 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.33 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 91.50 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 93.66 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 95.83 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 98.00 686.10 Td (Finance ) Tj ET Q q 0 0 0 rg BT 129.61 686.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 151.27 686.10 Td (receivable) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 668.70 Td (The ) Tj ET Q q 0 0 0 rg BT 87.52 668.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 105.13 668.70 Td ( ) Tj ET Q q 0 0 0 rg BT 107.23 668.70 Td (owns ) Tj ET Q q 0 0 0 rg BT 127.52 668.70 Td (a ) Tj ET Q q 0 0 0 rg BT 133.95 668.70 Td (fully ) Tj ET Q q 0 0 0 rg BT 149.91 668.70 Td (leased ) Tj ET Q q 0 0 0 rg BT 174.96 668.70 Td (data ) Tj ET Q q 0 0 0 rg BT 192.23 668.70 Td (centre ) Tj ET Q q 0 0 0 rg BT 215.98 668.70 Td (in ) Tj ET Q q 0 0 0 rg BT 224.14 668.70 Td (Winnipeg, ) Tj ET Q q 0 0 0 rg BT 260.89 668.70 Td (Manitoba ) Tj ET Q q 0 0 0 rg BT 295.04 668.70 Td (\(the ) Tj ET Q q 0 0 0 rg BT 310.56 668.70 Td ("Data ) Tj ET Q q 0 0 0 rg BT 331.88 668.70 Td (Centre"\) ) Tj ET Q q 0 0 0 rg BT 362.72 668.70 Td (. ) Tj ET Q q 0 0 0 rg BT 366.85 668.70 Td (The ) Tj ET Q q 0 0 0 rg BT 382.38 668.70 Td (tenant ) Tj ET Q q 0 0 0 rg BT 406.14 668.70 Td (occupying ) Tj ET Q q 0 0 0 rg BT 443.32 668.70 Td (the ) Tj ET Q q 0 0 0 rg BT 456.25 668.70 Td (Data ) Tj ET Q q 0 0 0 rg BT 474.81 668.70 Td (Centre ) Tj ET Q q 0 0 0 rg BT 500.29 668.70 Td (has ) Tj ET Q q 0 0 0 rg BT 514.95 668.70 Td (a ) Tj ET Q q 0 0 0 rg BT 521.38 668.70 Td (lease ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 657.30 Td (with ) Tj ET Q q 0 0 0 rg BT 88.29 657.30 Td (an ) Tj ET Q q 0 0 0 rg BT 99.39 657.30 Td (initial ) Tj ET Q q 0 0 0 rg BT 119.58 657.30 Td (term ) Tj ET Q q 0 0 0 rg BT 137.60 657.30 Td (to ) Tj ET Q q 0 0 0 rg BT 146.53 657.30 Td (maturity ) Tj ET Q q 0 0 0 rg BT 176.68 657.30 Td (of ) Tj ET Q q 0 0 0 rg BT 185.61 657.30 Td (15 ) Tj ET Q q 0 0 0 rg BT 196.71 657.30 Td (years ) Tj ET Q q 0 0 0 rg BT 218.20 657.30 Td (commencing ) Tj ET Q q 0 0 0 rg BT 264.80 657.30 Td (June ) Tj ET Q q 0 0 0 rg BT 284.13 657.30 Td (5, ) Tj ET Q q 0 0 0 rg BT 293.07 657.30 Td (2015, ) Tj ET Q q 0 0 0 rg BT 315.00 657.30 Td (with ) Tj ET Q q 0 0 0 rg BT 331.29 657.30 Td (the ) Tj ET Q q 0 0 0 rg BT 344.55 657.30 Td (option ) Tj ET Q q 0 0 0 rg BT 368.22 657.30 Td (to ) Tj ET Q q 0 0 0 rg BT 377.15 657.30 Td (extend ) Tj ET Q q 0 0 0 rg BT 402.98 657.30 Td (for ) Tj ET Q q 0 0 0 rg BT 414.51 657.30 Td (three ) Tj ET Q q 0 0 0 rg BT 434.70 657.30 Td (additional ) Tj ET Q q 0 0 0 rg BT 470.49 657.30 Td (five ) Tj ET Q q 0 0 0 rg BT 485.05 657.30 Td (year ) Tj ET Q q 0 0 0 rg BT 502.64 657.30 Td (terms. ) Tj ET Q q 0 0 0 rg BT 526.57 657.30 Td (The ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 645.90 Td (tenant ) Tj ET Q q 0 0 0 rg BT 96.10 645.90 Td (has ) Tj ET Q q 0 0 0 rg BT 111.11 645.90 Td (a ) Tj ET Q q 0 0 0 rg BT 117.88 645.90 Td (one-time ) Tj ET Q q 0 0 0 rg BT 150.63 645.90 Td (option ) Tj ET Q q 0 0 0 rg BT 174.30 645.90 Td (to ) Tj ET Q q 0 0 0 rg BT 183.24 645.90 Td (acquire ) Tj ET Q q 0 0 0 rg BT 211.23 645.90 Td (the ) Tj ET Q q 0 0 0 rg BT 224.51 645.90 Td (property ) Tj ET Q q 0 0 0 rg BT 255.53 645.90 Td (after ) Tj ET Q q 0 0 0 rg BT 273.56 645.90 Td (the ) Tj ET Q q 0 0 0 rg BT 286.83 645.90 Td (initial ) Tj ET Q q 0 0 0 rg BT 307.03 645.90 Td (term ) Tj ET Q q 0 0 0 rg BT 325.05 645.90 Td (of ) Tj ET Q q 0 0 0 rg BT 333.99 645.90 Td (the ) Tj ET Q q 0 0 0 rg BT 347.26 645.90 Td (lease ) Tj ET Q q 0 0 0 rg BT 368.33 645.90 Td (for ) Tj ET Q q 0 0 0 rg BT 379.86 645.90 Td ($12.0 ) Tj ET Q q 0 0 0 rg BT 401.80 645.90 Td (million. ) Tj ET Q q 0 0 0 rg BT 428.33 645.90 Td (The ) Tj ET Q q 0 0 0 rg BT 444.20 645.90 Td (terms ) Tj ET Q q 0 0 0 rg BT 466.12 645.90 Td (of ) Tj ET Q q 0 0 0 rg BT 475.06 645.90 Td (the ) Tj ET Q q 0 0 0 rg BT 488.33 645.90 Td (lease ) Tj ET Q q 0 0 0 rg BT 509.40 645.90 Td (meet ) Tj ET Q q 0 0 0 rg BT 529.16 645.90 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 634.50 Td (requirements ) Tj ET Q q 0 0 0 rg BT 119.79 634.50 Td (for ) Tj ET Q q 0 0 0 rg BT 131.20 634.50 Td (classification ) Tj ET Q q 0 0 0 rg BT 177.70 634.50 Td (of ) Tj ET Q q 0 0 0 rg BT 186.52 634.50 Td (the ) Tj ET Q q 0 0 0 rg BT 199.67 634.50 Td (lease ) Tj ET Q q 0 0 0 rg BT 220.62 634.50 Td (as ) Tj ET Q q 0 0 0 rg BT 231.17 634.50 Td (a ) Tj ET Q q 0 0 0 rg BT 237.83 634.50 Td (finance ) Tj ET Q q 0 0 0 rg BT 265.28 634.50 Td (lease ) Tj ET Q q 0 0 0 rg BT 286.23 634.50 Td (at ) Tj ET Q q 0 0 0 rg BT 295.05 634.50 Td (inception ) Tj ET Q q 0 0 0 rg BT 328.56 634.50 Td (because ) Tj ET Q q 0 0 0 rg BT 360.34 634.50 Td (the ) Tj ET Q q 0 0 0 rg BT 373.49 634.50 Td (minimum ) Tj ET Q q 0 0 0 rg BT 407.41 634.50 Td (lease ) Tj ET Q q 0 0 0 rg BT 428.36 634.50 Td (payments ) Tj ET Q q 0 0 0 rg BT 464.46 634.50 Td (will ) Tj ET Q q 0 0 0 rg BT 477.60 634.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 505.91 634.50 Td (to ) Tj ET Q q 0 0 0 rg BT 514.73 634.50 Td (at ) Tj ET Q q 0 0 0 rg BT 523.55 634.50 Td (least ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 623.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 116.92 623.10 Td (all ) Tj ET Q q 0 0 0 rg BT 126.75 623.10 Td (of ) Tj ET Q q 0 0 0 rg BT 135.29 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 148.17 623.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 161.03 623.10 Td (value ) Tj ET Q q 0 0 0 rg BT 181.70 623.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.24 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 203.11 623.10 Td (leased ) Tj ET Q q 0 0 0 rg BT 228.11 623.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 248.77 623.10 Td (and ) Tj ET Q q 0 0 0 rg BT 263.81 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 276.69 623.10 Td (tenant ) Tj ET Q q 0 0 0 rg BT 300.39 623.10 Td (has ) Tj ET Q q 0 0 0 rg BT 314.99 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 327.87 623.10 Td (right ) Tj ET Q q 0 0 0 rg BT 345.06 623.10 Td (to ) Tj ET Q q 0 0 0 rg BT 353.60 623.10 Td (acquire ) Tj ET Q q 0 0 0 rg BT 381.20 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 394.07 623.10 Td (Data ) Tj ET Q q 0 0 0 rg BT 412.56 623.10 Td (Centre ) Tj ET Q q 0 0 0 rg BT 437.99 623.10 Td (for ) Tj ET Q q 0 0 0 rg BT 449.12 623.10 Td (a ) Tj ET Q q 0 0 0 rg BT 455.49 623.10 Td (price ) Tj ET Q q 0 0 0 rg BT 474.42 623.10 Td (initially ) Tj ET Q q 0 0 0 rg BT 499.84 623.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 533.51 623.10 Td (to ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 611.70 Td (be ) Tj ET Q q 0 0 0 rg BT 82.83 611.70 Td (below ) Tj ET Q q 0 0 0 rg BT 105.35 611.70 Td (the ) Tj ET Q q 0 0 0 rg BT 118.35 611.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 131.34 611.70 Td (value ) Tj ET Q q 0 0 0 rg BT 152.13 611.70 Td (of ) Tj ET Q q 0 0 0 rg BT 160.79 611.70 Td (the ) Tj ET Q q 0 0 0 rg BT 173.79 611.70 Td (property ) Tj ET Q q 0 0 0 rg BT 204.54 611.70 Td (at ) Tj ET Q q 0 0 0 rg BT 213.20 611.70 Td (maturity) Tj ET Q q 0 0 0 rg BT 240.34 611.70 Td (.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 594.30 Td (A) Tj ET Q q 0 0 0 rg BT 76.77 594.30 Td ( reconciliation of the change during the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 212.78 594.30 Td (three months ended March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 338.39 594.30 Td ( in the finance lease receivable is as follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 583.8 m 374.5 583.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 568.8 m 374.5 568.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 583.8 m 390.5 583.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374.5 568.8 m 390.5 568.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 583.8 m 465.5 583.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 568.8 m 465.5 568.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 583.8 m 540.5 583.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465.5 568.8 m 540.5 568.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 523.8 m 374.5 523.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 508.8 m 374.5 508.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374.5 523.8 m 390.5 523.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 508.8 m 390.5 508.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 523.8 m 465.5 523.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 508.8 m 465.5 508.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465.5 523.8 m 540.5 523.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 508.8 m 540.5 508.8 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 406.55 574.38 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.55 573.33 Td (December 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 558.33 Td (Balance, beginning of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 393.00 559.38 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 438.55 559.38 Td (65,214) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.00 558.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 558.33 Td (66,034) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 544.38 Td (Lease payments received) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 440.30 543.33 Td (\(1,525) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 462.40 543.33 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 543.33 Td (\(2,541) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 543.33 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 529.38 Td (Finance income on finance lease receivable) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 442.90 528.33 Td (1,022) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 528.33 Td (1,721) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 514.38 Td (Balance, end of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 393.00 513.33 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 438.55 513.33 Td (64,711) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.00 513.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 513.33 Td (65,214) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 491.90 Td (The ) Tj ET Q q 0 0 0 rg BT 87.91 491.90 Td (following ) Tj ET Q q 0 0 0 rg BT 120.70 491.90 Td (is ) Tj ET Q q 0 0 0 rg BT 128.81 491.90 Td (a ) Tj ET Q q 0 0 0 rg BT 135.63 491.90 Td (summary ) Tj ET Q q 0 0 0 rg BT 170.14 491.90 Td (of ) Tj ET Q q 0 0 0 rg BT 179.13 491.90 Td (the ) Tj ET Q q 0 0 0 rg BT 192.44 491.90 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 241.28 491.90 Td (future ) Tj ET Q q 0 0 0 rg BT 263.68 491.90 Td (minimum ) Tj ET Q q 0 0 0 rg BT 297.76 491.90 Td (lease ) Tj ET Q q 0 0 0 rg BT 318.87 491.90 Td (payments ) Tj ET Q q 0 0 0 rg BT 355.13 491.90 Td (receivable ) Tj ET Q q 0 0 0 rg BT 393.13 491.90 Td (to ) Tj ET Q q 0 0 0 rg BT 402.11 491.90 Td (the ) Tj ET Q q 0 0 0 rg BT 415.43 491.90 Td (present ) Tj ET Q q 0 0 0 rg BT 443.90 491.90 Td (value ) Tj ET Q q 0 0 0 rg BT 465.01 491.90 Td (of ) Tj ET Q q 0 0 0 rg BT 473.99 491.90 Td (the ) Tj ET Q q 0 0 0 rg BT 487.30 491.90 Td (minimum ) Tj ET Q q 0 0 0 rg BT 521.38 491.90 Td (lease ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 480.50 Td (payments ) Tj ET Q q 0 0 0 rg BT 108.94 480.50 Td (receivable ) Tj ET Q q 0 0 0 rg BT 147.60 480.50 Td (which ) Tj ET Q q 0 0 0 rg BT 170.67 480.50 Td (represents ) Tj ET Q q 0 0 0 rg BT 210.63 480.50 Td (the ) Tj ET Q q 0 0 0 rg BT 224.62 480.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 253.76 480.50 Td (recorded ) Tj ET Q q 0 0 0 rg BT 287.67 480.50 Td (on ) Tj ET Q q 0 0 0 rg BT 299.49 480.50 Td (the ) Tj ET Q q 0 0 0 rg BT 313.47 480.50 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 360.38 480.50 Td (statements ) Tj ET Q q 0 0 0 rg BT 401.65 480.50 Td (of ) Tj ET Q q 0 0 0 rg BT 411.30 480.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 443.04 480.50 Td (position ) Tj ET Q q 0 0 0 rg BT 473.05 480.50 Td (at ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 482.71 480.50 Td (March31, ) Tj ET Q q 0 0 0 rg BT 520.50 480.50 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.83 480.50 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 470 m 336.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 470 m 404.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 470 m 472.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 470 m 540.5 470 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 434 m 336.5 434 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 336.5 434 m 404.5 434 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 434 m 472.5 434 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 472.5 434 m 540.5 434 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 389 m 336.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 374 m 336.5 374 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 336.5 389 m 404.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 374 m 404.5 374 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 404.5 389 m 472.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 374 m 472.5 374 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 472.5 389 m 540.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 374 m 540.5 374 l s BT /F2 9.50 Tf ET q 0 0 0 rg BT 344.70 448.03 Td (Future minimum ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 346.40 438.53 Td (lease payments) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 417.00 438.53 Td (Interest portion) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 480.65 457.53 Td (Present value of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 484.60 448.03 Td (minimum lease ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 503.20 438.53 Td (payments) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 423.53 Td (Less than one year) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 339.00 423.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 381.90 423.53 Td (6,099) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 407.00 423.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 449.90 423.53 Td (4,009) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 475.00 423.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 423.53 Td (2,090) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 408.53 Td (Greater than one year but less than 5 years) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 377.55 408.53 Td (31,081) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 445.55 408.53 Td (17,797) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 408.53 Td (13,284) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 393.53 Td (Greater than 5 years) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 377.55 393.53 Td (66,191) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 445.55 393.53 Td (16,854) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 393.53 Td (49,337) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 378.53 Td (Total) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 475.00 378.53 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 513.55 378.53 Td (64,711) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 357.10 Td (7. ) Tj ET Q q 0 0 0 rg BT 108.00 357.10 Td (Accounts receivable) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 339.70 Td (Accounts receivable is comprised of the following:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 323.20000000000005 m 351.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 308.20000000000005 m 351.5 308.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 323.20000000000005 m 380.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 351.5 308.20000000000005 m 380.5 308.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 323.20000000000005 m 395.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 308.20000000000005 m 395.5 308.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 323.20000000000005 m 460.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 308.20000000000005 m 460.5 308.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 323.20000000000005 m 475.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 460.5 308.20000000000005 m 475.5 308.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 323.20000000000005 m 540.5 323.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 308.20000000000005 m 540.5 308.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 308.20000000000005 m 460.5 308.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 460.5 308.20000000000005 m 475.5 308.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 308.20000000000005 m 540.5 308.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 248.20000000000005 m 351.5 248.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 233.20000000000005 m 351.5 233.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 351.5 248.20000000000005 m 380.5 248.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 233.20000000000005 m 380.5 233.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 248.20000000000005 m 395.5 248.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 233.20000000000005 m 395.5 233.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 248.20000000000005 m 460.5 248.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 233.20000000000005 m 460.5 233.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 460.5 248.20000000000005 m 475.5 248.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 233.20000000000005 m 475.5 233.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 248.20000000000005 m 540.5 248.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 233.20000000000005 m 540.5 233.20000000000005 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 401.55 312.73 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.55 312.73 Td (December 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 297.73 Td (Rent receivable) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 398.00 297.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 437.90 297.73 Td (1,918) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 478.00 297.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 297.73 Td (2,797) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 282.73 Td (Accrued recovery income) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 437.90 282.73 Td (1,556) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 282.73 Td (1,231) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 267.73 Td (Other) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 437.90 267.73 Td (1,840) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 267.73 Td (2,267) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 252.73 Td (Allowance) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 441.80 252.73 Td (\(105) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 457.40 252.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 521.80 252.73 Td (\(159) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 252.73 Td (\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 398.00 237.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 437.90 237.73 Td (5,209) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 478.00 237.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 237.73 Td (6,136) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 216.30 Td (Rent ) Tj ET Q q 0 0 0 rg BT 91.05 216.30 Td (receivable ) Tj ET Q q 0 0 0 rg BT 129.15 216.30 Td (consists ) Tj ET Q q 0 0 0 rg BT 159.90 216.30 Td (of ) Tj ET Q q 0 0 0 rg BT 168.99 216.30 Td (base ) Tj ET Q q 0 0 0 rg BT 188.48 216.30 Td (rent ) Tj ET Q q 0 0 0 rg BT 204.50 216.30 Td (and ) Tj ET Q q 0 0 0 rg BT 220.09 216.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 255.17 216.30 Td (expense ) Tj ET Q q 0 0 0 rg BT 287.22 216.30 Td (recoveries ) Tj ET Q q 0 0 0 rg BT 325.75 216.30 Td (receivable ) Tj ET Q q 0 0 0 rg BT 363.86 216.30 Td (from ) Tj ET Q q 0 0 0 rg BT 382.03 216.30 Td (tenants. ) Tj ET Q q 0 0 0 rg BT 411.84 216.30 Td (Accrued ) Tj ET Q q 0 0 0 rg BT 443.02 216.30 Td (recovery ) Tj ET Q q 0 0 0 rg BT 475.48 216.30 Td (income ) Tj ET Q q 0 0 0 rg BT 503.19 216.30 Td (represents ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 204.90 Td (amounts ) Tj ET Q q 0 0 0 rg BT 104.05 204.90 Td (that ) Tj ET Q q 0 0 0 rg BT 119.21 204.90 Td (have ) Tj ET Q q 0 0 0 rg BT 138.27 204.90 Td (not ) Tj ET Q q 0 0 0 rg BT 151.27 204.90 Td (been ) Tj ET Q q 0 0 0 rg BT 170.77 204.90 Td (billed ) Tj ET Q q 0 0 0 rg BT 191.12 204.90 Td (to ) Tj ET Q q 0 0 0 rg BT 199.79 204.90 Td (tenants ) Tj ET Q q 0 0 0 rg BT 227.52 204.90 Td (and ) Tj ET Q q 0 0 0 rg BT 242.68 204.90 Td (are ) Tj ET Q q 0 0 0 rg BT 256.10 204.90 Td (generally ) Tj ET Q q 0 0 0 rg BT 289.88 204.90 Td (billed ) Tj ET Q q 0 0 0 rg BT 310.24 204.90 Td (and ) Tj ET Q q 0 0 0 rg BT 325.40 204.90 Td (paid ) Tj ET Q q 0 0 0 rg BT 342.30 204.90 Td (in ) Tj ET Q q 0 0 0 rg BT 350.53 204.90 Td (the ) Tj ET Q q 0 0 0 rg BT 363.53 204.90 Td (following ) Tj ET Q q 0 0 0 rg BT 396.00 204.90 Td (year ) Tj ET Q q 0 0 0 rg BT 413.32 204.90 Td (to ) Tj ET Q q 0 0 0 rg BT 421.99 204.90 Td (which ) Tj ET Q q 0 0 0 rg BT 444.07 204.90 Td (they ) Tj ET Q q 0 0 0 rg BT 460.96 204.90 Td (relate.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 187.50 Td (Included ) Tj ET Q q 0 0 0 rg BT 103.58 187.50 Td (in ) Tj ET Q q 0 0 0 rg BT 111.76 187.50 Td (other ) Tj ET Q q 0 0 0 rg BT 131.64 187.50 Td (amounts ) Tj ET Q q 0 0 0 rg BT 163.64 187.50 Td (receivable ) Tj ET Q q 0 0 0 rg BT 201.27 187.50 Td (is ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 209.02 187.50 Td ($0.8 ) Tj ET Q q 0 0 0 rg BT 226.30 187.50 Td (million) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 248.38 187.50 Td ( ) Tj ET Q q 0 0 0 rg BT 250.50 187.50 Td (\() Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 253.09 187.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 304.14 187.50 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 321.47 187.50 Td ( ) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 323.59 187.50 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 328.34 187.50 Td ( ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 330.46 187.50 Td ($0.8 ) Tj ET Q q 0 0 0 rg BT 347.75 187.50 Td (million) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 369.82 187.50 Td (\) ) Tj ET Q q 0 0 0 rg BT 374.54 187.50 Td (due ) Tj ET Q q 0 0 0 rg BT 389.65 187.50 Td (from ) Tj ET Q q 0 0 0 rg BT 407.35 187.50 Td (Slate, ) Tj ET Q q 0 0 0 rg BT 429.40 187.50 Td (as ) Tj ET Q q 0 0 0 rg BT 439.75 187.50 Td (defined ) Tj ET Q q 0 0 0 rg BT 467.43 187.50 Td (in ) Tj ET Q q 0 0 0 rg BT 475.61 187.50 Td (note ) Tj ET Q q 0 0 0 rg BT 492.90 187.50 Td (19, ) Tj ET Q q 0 0 0 rg BT 505.85 187.50 Td (relating ) Tj ET Q q 0 0 0 rg BT 533.52 187.50 Td (to ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 176.10 Td (the ) Tj ET Q q 0 0 0 rg BT 85.03 176.10 Td (suburban ) Tj ET Q q 0 0 0 rg BT 119.71 176.10 Td (of) Tj ET Q q 0 0 0 rg BT 126.07 176.10 Td (fice ) Tj ET Q q 0 0 0 rg BT 140.40 176.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 179.41 176.10 Td (for ) Tj ET Q q 0 0 0 rg BT 190.69 176.10 Td (free ) Tj ET Q q 0 0 0 rg BT 206.31 176.10 Td (rent ) Tj ET Q q 0 0 0 rg BT 221.94 176.10 Td (adjustments, ) Tj ET Q q 0 0 0 rg BT 268.31 176.10 Td (tenant ) Tj ET Q q 0 0 0 rg BT 292.17 176.10 Td (inducements ) Tj ET Q q 0 0 0 rg BT 338.54 176.10 Td (and ) Tj ET Q q 0 0 0 rg BT 353.73 176.10 Td (leasing ) Tj ET Q q 0 0 0 rg BT 380.62 176.10 Td (commissions. ) Tj ET Q q 0 0 0 rg BT 430.00 176.10 Td ( ) Tj ET Q q 0 0 0 rg BT 432.06 176.10 Td (The ) Tj ET Q q 0 0 0 rg BT 447.68 176.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 485.39 176.10 Td (will ) Tj ET Q q 0 0 0 rg BT 498.40 176.10 Td (be ) Tj ET Q q 0 0 0 rg BT 509.26 176.10 Td (collected ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 164.70 Td (as ) Tj ET Q q 0 0 0 rg BT 83.03 164.70 Td (the ) Tj ET Q q 0 0 0 rg BT 96.67 164.70 Td (related ) Tj ET Q q 0 0 0 rg BT 123.30 164.70 Td (items ) Tj ET Q q 0 0 0 rg BT 144.72 164.70 Td (are ) Tj ET Q q 0 0 0 rg BT 158.78 164.70 Td (paid ) Tj ET Q q 0 0 0 rg BT 176.32 164.70 Td (or ) Tj ET Q q 0 0 0 rg BT 186.05 164.70 Td (incurred ) Tj ET Q q 0 0 0 rg BT 217.00 164.70 Td (in ) Tj ET Q q 0 0 0 rg BT 225.87 164.70 Td (connection ) Tj ET Q q 0 0 0 rg BT 266.36 164.70 Td (with ) Tj ET Q q 0 0 0 rg BT 283.01 164.70 Td (the ) Tj ET Q q 0 0 0 rg BT 296.65 164.70 Td (tenant ) Tj ET Q q 0 0 0 rg BT 321.12 164.70 Td (lease ) Tj ET Q q 0 0 0 rg BT 342.55 164.70 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 388.66 164.70 Td ( ) Tj ET Q q 0 0 0 rg BT 391.29 164.70 Td (The ) Tj ET Q q 0 0 0 rg BT 407.52 164.70 Td (receivable ) Tj ET Q q 0 0 0 rg BT 445.84 164.70 Td (is ) Tj ET Q q 0 0 0 rg BT 454.27 164.70 Td (non-interest ) Tj ET Q q 0 0 0 rg BT 498.22 164.70 Td (bearing ) Tj ET Q q 0 0 0 rg BT 527.01 164.70 Td (and ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 153.30 Td (unsecured. ) Tj ET Q q 0 0 0 rg BT 112.58 153.30 Td (The ) Tj ET Q q 0 0 0 rg BT 128.17 153.30 Td (balance ) Tj ET Q q 0 0 0 rg BT 157.63 153.30 Td (of ) Tj ET Q q 0 0 0 rg BT 166.29 153.30 Td (other ) Tj ET Q q 0 0 0 rg BT 186.22 153.30 Td (receivables ) Tj ET Q q 0 0 0 rg BT 227.79 153.30 Td (relate ) Tj ET Q q 0 0 0 rg BT 249.44 153.30 Td (to ) Tj ET Q q 0 0 0 rg BT 258.11 153.30 Td (specific ) Tj ET Q q 0 0 0 rg BT 286.26 153.30 Td (receivables ) Tj ET Q q 0 0 0 rg BT 327.83 153.30 Td (for ) Tj ET Q q 0 0 0 rg BT 339.09 153.30 Td (post-closing ) Tj ET Q q 0 0 0 rg BT 382.83 153.30 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 421.81 153.30 Td (adjustments.) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.50 42.95 Td (Page 1) Tj ET Q q 0 0 0 rg BT 324.35 42.95 Td (1) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 686.10 Td (The ) Tj ET Q q 0 0 0 rg BT 87.59 686.10 Td (change ) Tj ET Q q 0 0 0 rg BT 115.32 686.10 Td (in ) Tj ET Q q 0 0 0 rg BT 123.55 686.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 160.35 686.10 Td (for ) Tj ET Q q 0 0 0 rg BT 171.61 686.10 Td (doubtful ) Tj ET Q q 0 0 0 rg BT 201.51 686.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 234.86 686.10 Td (is ) Tj ET Q q 0 0 0 rg BT 242.65 686.10 Td (as ) Tj ET Q q 0 0 0 rg BT 253.05 686.10 Td (follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 675.6 m 356.5 675.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 675.6 m 379.5 675.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 675.6 m 394.5 675.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379.5 661.6 m 394.5 661.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 675.6 m 459.5 675.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 675.6 m 474.5 675.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 661.6 m 474.5 661.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 675.6 m 539.5 675.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 661.6 m 356.5 661.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356.5 661.6 m 379.5 661.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379.5 661.6 m 394.5 661.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394.5 661.6 m 459.5 661.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 661.6 m 474.5 661.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 661.6 m 539.5 661.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 609.6 m 356.5 609.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 594.6 m 356.5 594.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356.5 609.6 m 379.5 609.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 594.6 m 379.5 594.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379.5 609.6 m 394.5 609.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 594.6 m 394.5 594.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394.5 609.6 m 459.5 609.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 594.6 m 459.5 594.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 609.6 m 474.5 609.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 594.6 m 474.5 594.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 609.6 m 539.5 609.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 594.6 m 539.5 594.6 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 400.55 666.13 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 467.55 666.13 Td (December 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 652.18 Td (Balance, beginning of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 397.00 652.18 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 440.80 652.18 Td (\(159) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 652.18 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 477.00 652.18 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 520.80 652.18 Td (\(130) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 536.40 652.18 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 639.18 Td (Change in allowance) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 445.10 639.18 Td (\(17) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 639.18 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 520.80 639.18 Td (\(159) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 536.40 639.18 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 626.18 Td (Bad debt write-off) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 447.70 626.18 Td (23) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 528.60 626.18 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 613.18 Td (Bad debt recovery) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 447.70 613.18 Td (48) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 523.40 613.18 Td (130) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 74.00 599.13 Td (Balance, end of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 397.00 599.13 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 440.80 599.13 Td (\(105) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 456.40 599.13 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 477.00 599.13 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 520.80 599.13 Td (\(159) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 536.40 599.13 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 577.70 Td (An allowance is provided when collection is no longer reasonably assured. ) Tj ET Q q 0 0 0 rg BT 330.42 577.70 Td (This includes bankruptcy) Tj ET Q q 0 0 0 rg BT 415.59 577.70 Td (, abandonment by tenants and ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 566.30 Td (certain tenant disputes.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 548.90 Td (The aging analysis of rents receivable past due is as follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 538.4 m 359.5 538.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 538.4 m 381.5 538.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 538.4 m 396.5 538.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 538.4 m 459.5 538.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 538.4 m 473.5 538.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 538.4 m 537.5 538.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 523.4 m 359.5 523.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 359.5 523.4 m 381.5 523.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381.5 523.4 m 396.5 523.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 396.5 523.4 m 459.5 523.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 523.4 m 473.5 523.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 523.4 m 537.5 523.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 484.4 m 359.5 484.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 469.4 m 359.5 469.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 359.5 484.4 m 381.5 484.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 469.4 m 381.5 469.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381.5 484.4 m 396.5 484.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 469.4 m 396.5 469.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 396.5 484.4 m 459.5 484.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 469.4 m 459.5 469.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 484.4 m 473.5 484.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 469.4 m 473.5 469.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 484.4 m 537.5 484.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 469.4 m 537.5 469.4 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 400.55 527.93 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 465.55 527.93 Td (December 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 513.98 Td (Current to 30 days) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 399.00 513.98 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 436.90 513.98 Td (1,273) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 476.00 513.98 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 514.90 513.98 Td (1,793) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 500.98 Td (31 to 90 days) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 443.40 500.98 Td (257) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 521.40 500.98 Td (465) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 487.98 Td (Greater than 90 days) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 443.40 487.98 Td (388) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 521.40 487.98 Td (539) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 473.93 Td (Total) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 399.00 473.93 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 436.90 473.93 Td (1,918) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 476.00 473.93 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 514.90 473.93 Td (2,797) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 441.10 Td (8. ) Tj ET Q q 0 0 0 rg BT 99.00 441.10 Td (Debt) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 423.70 Td (Debt held by the REIT) Tj ET Q q 0 0 0 rg BT 148.52 423.70 Td ( as at ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 169.74 423.70 Td (March31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 223.88 423.70 Td ( is as follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 410.20000000000005 m 171.5 410.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 370.20000000000005 m 171.5 370.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 171.5 410.20000000000005 m 222.5 410.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 171.5 370.20000000000005 m 222.5 370.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.5 410.20000000000005 m 274.5 410.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 222.5 370.20000000000005 m 274.5 370.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 410.20000000000005 m 319.5 410.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274.5 370.20000000000005 m 319.5 370.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 410.20000000000005 m 364.5 410.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 319.5 370.20000000000005 m 364.5 370.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 410.20000000000005 m 406.5 410.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364.5 370.20000000000005 m 406.5 370.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 410.20000000000005 m 451.5 410.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 406.5 370.20000000000005 m 451.5 370.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 410.20000000000005 m 494.5 410.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451.5 370.20000000000005 m 494.5 370.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 410.20000000000005 m 539.5 410.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 370.20000000000005 m 539.5 370.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274.5 370.20000000000005 m 319.5 370.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 319.5 370.20000000000005 m 364.5 370.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 292.20000000000005 m 171.5 292.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 278.20000000000005 m 171.5 278.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 171.5 292.20000000000005 m 222.5 292.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 171.5 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BT /F2 8.00 Tf ET q 0 0 0 rg BT 185.60 360.43 Td (V) Tj ET Q q 0 0 0 rg BT 189.49 360.43 Td (arious ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.10 360.43 Td (V) Tj ET Q q 0 0 0 rg BT 240.99 360.43 Td (arious) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 292.15 360.73 Td (15) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 322.00 360.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 333.20 360.73 Td (317,004) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 367.00 360.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 375.20 360.73 Td (240,735) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 409.00 360.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 420.20 360.73 Td (240,735) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 454.00 360.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 483.60 360.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 497.00 360.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 528.60 360.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 346.73 Td (Revolving operating facility) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 176.60 346.43 Td (Jun. 30, 2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 230.00 346.43 Td (BA+200 bps) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 294.30 346.73 Td (8) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 333.20 346.73 Td (284,375) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 375.20 346.73 Td (214,416) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 420.20 346.73 Td (195,400) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 483.60 346.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 512.55 346.73 Td (19,016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 332.73 Td (Revolving credit facility) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 176.30 332.43 Td (Nov) Tj ET Q q 0 0 0 rg BT 187.48 332.43 Td (. 30, 2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 230.00 332.43 Td (BA+200 bps) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 294.30 332.73 Td (5) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 337.55 332.78 Td (72,626) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 379.55 332.73 Td (43,999) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 424.55 332.73 Td (25,000) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 471.90 332.73 Td (1,000) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 512.55 332.73 Td (17,999) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 318.78 Td (Co-owned properties term ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 309.28 Td (loan ) Tj ET Q BT /F2 9.50 Tf ET BT /F2 6.17 Tf ET q 0 0 0 rg BT 90.89 311.71 Td (\(5\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 176.60 310.43 Td (Jun. 30, 2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 230.00 310.43 Td (BA+213 bps) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 294.30 310.73 Td (3) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 337.55 310.78 Td (42,919) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 379.55 310.73 Td (31,500) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 424.55 310.73 Td (31,500) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 483.60 310.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 528.60 310.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 296.73 Td (Other facility) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 178.60 296.43 Td (Oct. 1, 2025) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 238.65 296.43 Td (4.27%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 294.30 296.73 Td (1) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 353.60 296.78 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 383.90 296.73 Td (2,900) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 428.90 296.73 Td (2,801) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 483.60 296.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 527.70 296.73 Td (99) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 74.00 282.73 Td (Total) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 292.15 282.73 Td (32) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 322.00 282.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 333.20 282.73 Td (716,924) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 367.00 282.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 375.20 282.73 Td (533,550) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 409.00 282.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 420.20 282.73 Td (495,436) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 454.00 282.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 471.90 282.73 Td (1,000) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 497.00 282.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 512.55 282.73 Td (37,114) Tj ET Q BT /F1 10.00 Tf ET BT /F2 7.50 Tf ET BT /F2 4.87 Tf ET q 0 0 0 rg BT 72.00 271.62 Td (\(1\)) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 76.88 269.70 Td ( ) Tj ET Q q 0 0 0 rg BT 78.49 269.70 Td (The ) Tj ET Q q 0 0 0 rg BT 90.80 269.70 Td (weighted ) Tj ET Q q 0 0 0 rg BT 117.12 269.70 Td (average ) Tj ET Q q 0 0 0 rg BT 141.06 269.70 Td (remaining ) Tj ET Q q 0 0 0 rg BT 169.78 269.70 Td (term ) Tj ET Q q 0 0 0 rg BT 183.79 269.70 Td (to ) Tj ET Q q 0 0 0 rg BT 190.63 269.70 Td (maturity ) Tj ET Q q 0 0 0 rg BT 214.22 269.70 Td (of ) Tj ET Q q 0 0 0 rg BT 221.06 269.70 Td (mortgages ) Tj ET Q q 0 0 0 rg BT 251.83 269.70 Td (is ) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 257.98 269.70 Td (2.5) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 266.53 269.70 Td ( ) Tj ET Q q 0 0 0 rg BT 268.24 269.70 Td (years ) Tj ET Q q 0 0 0 rg BT 284.99 269.70 Td (with ) Tj ET Q q 0 0 0 rg BT 297.64 269.70 Td (maturities ) Tj ET Q q 0 0 0 rg BT 326.01 269.70 Td (ranging ) Tj ET Q q 0 0 0 rg BT 348.24 269.70 Td (from ) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 362.25 269.70 Td (0.5) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 370.80 269.70 Td ( ) Tj ET Q q 0 0 0 rg BT 372.51 269.70 Td (to ) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 379.35 269.70 Td (14.5) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 391.32 269.70 Td ( ) Tj ET Q q 0 0 0 rg BT 393.03 269.70 Td (years. ) Tj ET Q BT /F2 7.50 Tf ET BT /F2 4.87 Tf ET q 0 0 0 rg BT 72.00 262.62 Td (\(2\) ) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 78.00 260.70 Td (The ) Tj ET Q q 0 0 0 rg BT 90.30 260.70 Td (weighted ) Tj ET Q q 0 0 0 rg BT 116.63 260.70 Td (average ) Tj ET Q q 0 0 0 rg BT 140.57 260.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 162.45 260.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 174.76 260.70 Td (of ) Tj ET Q q 0 0 0 rg BT 181.60 260.70 Td (mortgages ) Tj ET Q q 0 0 0 rg BT 212.37 260.70 Td (is ) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 218.52 260.70 Td (3.39%) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 235.96 260.70 Td ( ) Tj ET Q q 0 0 0 rg BT 237.67 260.70 Td (with ) Tj ET Q q 0 0 0 rg BT 250.32 260.70 Td (coupons ) Tj ET Q q 0 0 0 rg BT 275.28 260.70 Td (ranging ) Tj ET Q q 0 0 0 rg BT 297.51 260.70 Td (from ) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 311.52 260.70 Td (3.06%) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 328.96 260.70 Td ( ) Tj ET Q q 0 0 0 rg BT 330.67 260.70 Td (to ) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 337.51 260.70 Td (4.60%) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 354.95 260.70 Td (.) Tj ET Q BT /F2 7.50 Tf ET BT /F2 4.87 Tf ET q 0 0 0 rg BT 72.00 253.62 Td (\(3\)) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 76.88 251.70 Td ( ) Tj ET Q q 0 0 0 rg BT 78.42 251.70 Td ("BA" ) Tj ET Q q 0 0 0 rg BT 92.53 251.70 Td (means ) Tj ET Q q 0 0 0 rg BT 112.53 251.70 Td (the ) Tj ET Q q 0 0 0 rg BT 122.63 251.70 Td (one-month ) Tj ET Q q 0 0 0 rg BT 153.57 251.70 Td (Bankers' ) Tj ET Q q 0 0 0 rg BT 178.55 251.70 Td (Acceptances ) Tj ET Q q 0 0 0 rg BT 215.31 251.70 Td (rate; ) Tj ET Q q 0 0 0 rg BT 229.16 251.70 Td ("Prime" ) Tj ET Q q 0 0 0 rg BT 251.12 251.70 Td (means ) Tj ET Q q 0 0 0 rg BT 271.12 251.70 Td (the ) Tj ET Q q 0 0 0 rg BT 281.21 251.70 Td (reference ) Tj ET Q q 0 0 0 rg BT 308.74 251.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 320.87 251.70 Td (of ) Tj ET Q q 0 0 0 rg BT 327.54 251.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 349.26 251.70 Td (as ) Tj ET Q q 0 0 0 rg BT 357.29 251.70 Td (set ) Tj ET Q q 0 0 0 rg BT 367.04 251.70 Td (by ) Tj ET Q q 0 0 0 rg BT 375.08 251.70 Td (the ) Tj ET Q q 0 0 0 rg BT 385.17 251.70 Td (lending ) Tj ET Q q 0 0 0 rg BT 406.54 251.70 Td (institution ) Tj ET Q q 0 0 0 rg BT 434.07 251.70 Td (and ) Tj ET Q q 0 0 0 rg BT 445.87 251.70 Td ("bps" ) Tj ET Q q 0 0 0 rg BT 461.69 251.70 Td (means ) Tj ET Q q 0 0 0 rg BT 481.70 251.70 Td (basis ) Tj ET Q q 0 0 0 rg BT 497.59 251.70 Td (point ) Tj ET Q q 0 0 0 rg BT 512.47 251.70 Td (or ) Tj ET Q q 0 0 0 rg BT 519.48 251.70 Td (1/100th ) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 72.00 242.70 Td (of ) Tj ET Q q 0 0 0 rg BT 78.84 242.70 Td (one ) Tj ET Q q 0 0 0 rg BT 90.81 242.70 Td (percent. ) Tj ET Q BT /F2 7.50 Tf ET BT /F2 4.87 Tf ET q 0 0 0 rg BT 72.00 235.62 Td (\(4\) ) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 78.00 233.70 Td (Debt ) Tj ET Q q 0 0 0 rg BT 92.70 233.70 Td (is ) Tj ET Q q 0 0 0 rg BT 98.85 233.70 Td (only ) Tj ET Q q 0 0 0 rg BT 111.84 233.70 Td (available ) Tj ET Q q 0 0 0 rg BT 137.83 233.70 Td (to ) Tj ET Q q 0 0 0 rg BT 144.67 233.70 Td (be ) Tj ET Q q 0 0 0 rg BT 153.22 233.70 Td (drawn ) Tj ET Q q 0 0 0 rg BT 171.68 233.70 Td (subject ) Tj ET Q q 0 0 0 rg BT 192.88 233.70 Td (to ) Tj ET Q q 0 0 0 rg BT 199.72 233.70 Td (certain ) Tj ET Q q 0 0 0 rg BT 219.89 233.70 Td (covenants. ) Tj ET Q BT /F2 7.50 Tf ET BT /F2 4.87 Tf ET q 0 0 0 rg BT 72.00 226.62 Td (\(5\)) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 76.88 224.70 Td ( ) Tj ET Q q 0 0 0 rg BT 78.32 224.70 Td (The ) Tj ET Q q 0 0 0 rg BT 90.44 224.70 Td (term ) Tj ET Q q 0 0 0 rg BT 104.27 224.70 Td (loan ) Tj ET Q q 0 0 0 rg BT 117.43 224.70 Td (on ) Tj ET Q q 0 0 0 rg BT 125.80 224.70 Td (co-owned ) Tj ET Q q 0 0 0 rg BT 153.99 224.70 Td (properties ) Tj ET Q q 0 0 0 rg BT 182.87 224.70 Td (relates ) Tj ET Q q 0 0 0 rg BT 202.86 224.70 Td (to ) Tj ET Q q 0 0 0 rg BT 209.52 224.70 Td (the ) Tj ET Q q 0 0 0 rg BT 219.60 224.70 Td (co-owned ) Tj ET Q q 0 0 0 rg BT 247.79 224.70 Td (properties ) Tj ET Q q 0 0 0 rg BT 276.67 224.70 Td (in ) Tj ET Q q 0 0 0 rg BT 282.98 224.70 Td (St. ) Tj ET Q q 0 0 0 rg BT 292.03 224.70 Td (John's, ) Tj ET Q q 0 0 0 rg BT 312.87 224.70 Td (Newfoundland, ) Tj ET Q q 0 0 0 rg BT 355.42 224.70 Td (and ) Tj ET Q q 0 0 0 rg BT 367.21 224.70 Td (includes ) Tj ET Q q 0 0 0 rg BT 391.31 224.70 Td (a ) Tj ET Q q 0 0 0 rg BT 396.25 224.70 Td (limited ) Tj ET Q q 0 0 0 rg BT 415.56 224.70 Td (recourse ) Tj ET Q q 0 0 0 rg BT 441.01 224.70 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 470.24 224.70 Td (by ) Tj ET Q q 0 0 0 rg BT 478.27 224.70 Td (the ) Tj ET Q q 0 0 0 rg BT 488.35 224.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 502.25 224.70 Td ( ) Tj ET Q q 0 0 0 rg BT 503.78 224.70 Td (of ) Tj ET Q q 0 0 0 rg BT 510.44 224.70 Td (its ) Tj ET Q q 0 0 0 rg BT 518.12 224.70 Td (interest. ) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 72.00 215.70 Td (Amounts ) Tj ET Q q 0 0 0 rg BT 97.98 215.70 Td (are ) Tj ET Q q 0 0 0 rg BT 108.58 215.70 Td (presented ) Tj ET Q q 0 0 0 rg BT 137.65 215.70 Td (at ) Tj ET Q q 0 0 0 rg BT 144.49 215.70 Td (the ) Tj ET Q q 0 0 0 rg BT 154.75 215.70 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 174.73 215.70 Td (30% ) Tj ET Q q 0 0 0 rg BT 188.74 215.70 Td (proportionate ) Tj ET Q q 0 0 0 rg BT 226.70 215.70 Td (obligation.) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.25 42.95 Td (Page 12) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 686.10 Td (The ) Tj ET Q q 0 0 0 rg BT 87.59 686.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 117.46 686.10 Td (value ) Tj ET Q q 0 0 0 rg BT 138.26 686.10 Td (of ) Tj ET Q q 0 0 0 rg BT 146.92 686.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 164.25 686.10 Td (held ) Tj ET Q q 0 0 0 rg BT 181.15 686.10 Td (by ) Tj ET Q q 0 0 0 rg BT 191.54 686.10 Td (the ) Tj ET Q q 0 0 0 rg BT 204.54 686.10 Td (REIT) Tj ET Q q 0 0 0 rg BT 222.15 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 224.32 686.10 Td (as ) Tj ET Q q 0 0 0 rg BT 234.71 686.10 Td (at ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 243.38 686.10 Td (March31, ) Tj ET Q q 0 0 0 rg BT 280.19 686.10 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 297.52 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 299.68 686.10 Td (is ) Tj ET Q q 0 0 0 rg BT 307.48 686.10 Td (as ) Tj ET Q q 0 0 0 rg BT 317.87 686.10 Td (follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 669.6 m 203.5 669.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 617.6 m 203.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 669.6 m 259.5 669.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 203.5 617.6 m 259.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 669.6 m 315.5 669.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 259.5 617.6 m 315.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 669.6 m 371.5 669.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 315.5 617.6 m 371.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 669.6 m 427.5 669.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371.5 617.6 m 427.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 669.6 m 483.5 669.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427.5 617.6 m 483.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 669.6 m 539.5 669.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 617.6 m 539.5 617.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 547.6 m 203.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 533.6 m 203.5 533.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 203.5 547.6 m 259.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 533.6 m 259.5 533.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 259.5 547.6 m 315.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 533.6 m 315.5 533.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 315.5 547.6 m 371.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 533.6 m 371.5 533.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371.5 547.6 m 427.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 533.6 m 427.5 533.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427.5 547.6 m 483.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 533.6 m 483.5 533.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 547.6 m 539.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 533.6 m 539.5 533.6 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 220.90 622.13 Td ( Principal) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 279.10 660.13 Td ( Mark-to-) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 286.45 650.63 Td (market) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 281.65 641.13 Td (\("MTM"\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 266.10 631.63 Td (adjustments) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 275.60 622.13 Td (and costs) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 320.35 650.63 Td (Amortization) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 340.70 641.13 Td (of MTM) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 322.10 631.63 Td (adjustments) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 331.60 622.13 Td (and costs) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 389.80 631.63 Td ( Carrying) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 395.85 622.13 Td (amount) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 451.85 622.13 Td (Current) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 489.25 622.13 Td ( Non-current) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 608.13 Td (Mortgages payable) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 206.00 608.13 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 228.20 608.13 Td (240,735) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 262.00 608.13 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 296.80 608.18 Td (\(450) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 312.40 608.13 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 318.00 608.13 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 355.40 608.13 Td (340) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 374.00 608.13 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 396.20 608.13 Td (240,625) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 430.00 608.13 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 452.20 608.13 Td (148,767) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 608.13 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 512.55 608.13 Td (91,858) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 594.13 Td (Revolving operating facility) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 228.20 594.13 Td (195,400) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 290.30 594.18 Td (\(1,872) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 312.40 594.13 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 355.40 594.13 Td (452) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 396.20 594.13 Td (193,980) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.60 594.13 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 508.20 594.13 Td (193,980) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 580.13 Td (Revolving credit facility) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 232.50 580.13 Td (25,000) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 296.80 580.18 Td (\(641) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 312.40 580.13 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 355.40 580.13 Td (325) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 400.55 580.13 Td (24,684) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.60 580.13 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 512.55 580.13 Td (24,684) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 566.13 Td (Co-owned properties term loan) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 232.50 566.13 Td (31,500) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 296.80 566.18 Td (\(131) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 312.40 566.13 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 359.70 566.13 Td (37) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 400.55 566.13 Td (31,406) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.60 566.13 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 512.55 566.13 Td (31,406) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 552.13 Td (Other facility) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 236.90 552.18 Td (2,801) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 304.60 552.18 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 360.60 552.18 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 404.90 552.13 Td (2,801) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 467.40 552.13 Td (142) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 516.90 552.13 Td (2,659) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 206.00 538.13 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 228.20 538.13 Td (495,436) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 262.00 538.13 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 290.30 538.18 Td (\(3,094) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 312.40 538.13 Td (\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 318.00 538.13 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 348.90 538.13 Td (1,154) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 374.00 538.13 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 396.20 538.13 Td (493,496) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 430.00 538.13 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 452.20 538.13 Td (148,909) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 486.00 538.13 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 508.20 538.13 Td (344,587) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 516.70 Td (Debt held by the REIT) Tj ET Q q 0 0 0 rg BT 148.52 516.70 Td ( as at ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 169.74 516.70 Td (December31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 238.17 516.70 Td ( is as follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 506.2 m 145.5 506.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 473.2 m 145.5 473.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145.5 506.2 m 196.5 506.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 145.5 473.2 m 196.5 473.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 196.5 506.2 m 247.5 506.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 196.5 473.2 m 247.5 473.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 506.2 m 296.5 506.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 247.5 473.2 m 296.5 473.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 506.2 m 345.5 506.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296.5 473.2 m 345.5 473.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.5 506.2 m 394.5 506.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 345.5 473.2 m 394.5 473.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 506.2 m 443.5 506.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394.5 473.2 m 443.5 473.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 506.2 m 492.5 506.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 443.5 473.2 m 492.5 473.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 506.2 m 540.5 506.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492.5 473.2 m 540.5 473.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 247.5 473.2 m 296.5 473.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296.5 473.2 m 345.5 473.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 364.2 m 145.5 364.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 145.5 364.2 m 196.5 364.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 196.5 364.2 m 247.5 364.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 247.5 364.2 m 296.5 364.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296.5 364.2 m 345.5 364.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 345.5 364.2 m 394.5 364.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394.5 364.2 m 443.5 364.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 443.5 364.2 m 492.5 364.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492.5 364.2 m 540.5 364.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 350.2 m 145.5 350.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145.5 350.2 m 196.5 350.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 196.5 350.2 m 247.5 350.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 350.2 m 296.5 350.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 350.2 m 345.5 350.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.5 350.2 m 394.5 350.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 350.2 m 443.5 350.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 350.2 m 492.5 350.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 350.2 m 540.5 350.2 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 151.15 477.73 Td (Maturity ) Tj ET Q BT /F3 9.50 Tf ET BT /F3 6.17 Tf ET q 0 0 0 rg BT 183.61 480.16 Td (\(1\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 202.95 477.73 Td (Coupon) Tj ET Q BT /F3 9.50 Tf ET BT /F3 6.17 Tf ET q 0 0 0 rg BT 232.37 480.16 Td ( \(2\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 252.20 496.73 Td (Properties) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 255.05 487.23 Td (provided) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 251.10 477.73 Td (as security) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 302.30 487.23 Td (Fair value) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 300.80 477.73 Td (of security) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 355.05 487.23 Td (Maximum) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 358.05 477.73 Td (available) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 407.05 477.73 Td (Principal) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 453.50 487.23 Td (Letters of) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 467.75 477.73 Td (credit) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 503.05 496.73 Td (A) Tj ET Q q 0 0 0 rg BT 508.39 496.73 Td (vailable ) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 518.35 487.23 Td (to be ) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 506.45 477.73 Td (drawn) Tj ET Q BT /F3 9.50 Tf ET BT /F3 6.17 Tf ET q 0 0 0 rg BT 529.39 480.16 Td ( \(3\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 463.73 Td (Mortgages) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 157.55 463.73 Td (V) Tj ET Q q 0 0 0 rg BT 162.18 463.73 Td (arious ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 208.55 463.73 Td (V) Tj ET Q q 0 0 0 rg BT 213.18 463.73 Td (arious) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 267.15 463.73 Td (15) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 314.20 463.73 Td (316,270) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 348.00 463.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 363.20 463.73 Td (241,415) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 397.00 463.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 412.20 463.73 Td (241,415) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 446.00 463.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 481.60 463.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 495.00 463.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 463.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 449.23 Td (Revolving ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 439.73 Td (operating facility) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 156.60 449.23 Td (Jun. 30, ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 161.80 439.73 Td (2018) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 200.15 439.73 Td (BA+200 bps) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 269.30 439.73 Td (8) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 314.20 439.73 Td (280,700) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 363.20 439.73 Td (214,416) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 412.20 439.73 Td (196,900) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 481.60 439.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 439.73 Td (17,516) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 425.23 Td (Revolving credit ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 415.73 Td (facility) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 156.25 425.23 Td (Nov. 30,) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 161.80 415.73 Td (2017) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 200.15 415.73 Td (BA+200 bps) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 269.30 415.73 Td (4) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 318.55 415.78 Td (51,840) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 367.55 415.73 Td (31,239) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 416.55 415.73 Td (25,000) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 469.90 415.73 Td (1,172) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 415.73 Td (5,067) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 401.73 Td (Co-owned) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 392.23 Td (properties term) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 382.73 Td (loan) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 156.60 392.23 Td (Jun. 30,) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 161.80 382.73 Td (2017) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 200.15 382.73 Td (BA+213 bps) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 269.30 382.73 Td (3) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 318.55 382.78 Td (42,900) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 367.55 382.73 Td (31,500) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 416.55 382.73 Td (31,500) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 481.60 382.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 382.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 368.73 Td (Other facility ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 149.25 368.73 Td (Oct. 1, 2025) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 210.45 368.73 Td (4.27%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 269.30 368.73 Td (1) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 334.60 368.78 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 371.90 368.73 Td (2,900) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 420.90 368.73 Td (2,825) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 481.60 368.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 528.70 368.73 Td (75) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 354.73 Td (T) Tj ET Q q 0 0 0 rg BT 78.90 354.73 Td (otal) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 267.15 354.73 Td (31) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 314.20 354.73 Td (691,710) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 348.00 354.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 363.20 354.73 Td (521,470) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 397.00 354.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 412.20 354.73 Td (497,640) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 446.00 354.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 469.90 354.73 Td (1,172) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 495.00 354.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 354.73 Td (22,658) Tj ET Q BT /F1 10.00 Tf ET BT /F2 7.50 Tf ET BT /F2 4.87 Tf ET q 0 0 0 rg BT 72.00 343.62 Td (\(1\)) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 76.88 341.70 Td ( ) Tj ET Q q 0 0 0 rg BT 78.49 341.70 Td (The weighted average remaining term to maturity of mortgages is 3.4 years with maturities ranging from 0.8 to 14.8 years. ) Tj ET Q BT /F2 7.50 Tf ET BT /F2 4.87 Tf ET q 0 0 0 rg BT 72.00 334.62 Td (\(2\)) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 76.88 332.70 Td ( ) Tj ET Q q 0 0 0 rg BT 78.49 332.70 Td (The weighted average interest rate of mortgages is 3.6% with coupons ranging from 3.15% to 4.60%.) Tj ET Q BT /F2 7.50 Tf ET BT /F2 4.87 Tf ET q 0 0 0 rg BT 72.00 325.62 Td (\(3\)) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 76.88 323.70 Td ( Debt is only available to be drawn subject to certain covenants.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 306.30 Td (The carrying value of debt held by the REIT) Tj ET Q q 0 0 0 rg BT 222.15 306.30 Td ( as at ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 243.38 306.30 Td (December31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 311.80 306.30 Td ( is as follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 295.79999999999995 m 168.5 295.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 247.79999999999995 m 168.5 247.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168.5 295.79999999999995 m 224.5 295.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 168.5 247.79999999999995 m 224.5 247.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 295.79999999999995 m 297.5 295.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 224.5 247.79999999999995 m 297.5 247.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 295.79999999999995 m 371.5 295.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 297.5 247.79999999999995 m 371.5 247.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 295.79999999999995 m 427.5 295.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371.5 247.79999999999995 m 427.5 247.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 295.79999999999995 m 483.5 295.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427.5 247.79999999999995 m 483.5 247.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 295.79999999999995 m 540.5 295.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 247.79999999999995 m 540.5 247.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 247.79999999999995 m 168.5 247.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168.5 247.79999999999995 m 224.5 247.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 247.79999999999995 m 297.5 247.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 247.79999999999995 m 371.5 247.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 247.79999999999995 m 427.5 247.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 247.79999999999995 m 483.5 247.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 247.79999999999995 m 540.5 247.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 157.79999999999995 m 168.5 157.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 140.79999999999995 m 168.5 140.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 168.5 157.79999999999995 m 224.5 157.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168.5 140.79999999999995 m 224.5 140.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 224.5 157.79999999999995 m 297.5 157.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 140.79999999999995 m 297.5 140.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 297.5 157.79999999999995 m 371.5 157.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 140.79999999999995 m 371.5 140.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371.5 157.79999999999995 m 427.5 157.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 140.79999999999995 m 427.5 140.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427.5 157.79999999999995 m 483.5 157.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 140.79999999999995 m 483.5 140.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 157.79999999999995 m 540.5 157.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 140.79999999999995 m 540.5 140.79999999999995 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 185.90 252.33 Td ( Principal) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 235.55 280.83 Td ( Mark-to-market) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 263.65 271.33 Td (\("MTM"\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 232.05 261.83 Td (adjustments and) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 273.60 252.33 Td (costs) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 310.85 271.33 Td (Amortization of) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 302.20 261.83 Td (MTM adjustments) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 331.60 252.33 Td (and costs) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 389.80 261.83 Td ( Carrying) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 395.85 252.33 Td (amount) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 451.85 252.33 Td (Current) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 490.25 252.33 Td ( Non-current) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 238.33 Td (Mortgages payable) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 171.00 238.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 193.20 238.38 Td (241,415) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 227.00 238.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 278.80 238.33 Td (\(448) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 294.40 238.33 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 300.00 238.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 355.40 238.33 Td (302) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 374.00 238.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 396.20 238.33 Td (241,269) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 430.00 238.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 460.90 238.33 Td (4,626) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 238.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 238.33 Td (236,643) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 223.83 Td (Revolving operating ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 214.33 Td (facility) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 193.20 214.38 Td (196,900) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 272.30 214.33 Td (\(1,871) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 294.40 214.33 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 355.40 214.33 Td (300) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 396.20 214.33 Td (195,329) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.60 214.33 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 214.33 Td (195,329) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 200.33 Td (Revolving credit facility) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 197.55 200.38 Td (25,000) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 278.80 200.33 Td (\(556) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 294.40 200.33 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 355.40 200.33 Td (288) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 400.55 200.33 Td (24,732) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.60 200.33 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 200.33 Td (24,732) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 185.83 Td (Co-owned properties ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 176.33 Td (term loan) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 197.55 176.38 Td (31,500) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 283.10 176.33 Td (\(59) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 294.40 176.33 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 364.05 176.38 Td (8) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 400.55 176.33 Td (31,449) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.60 176.33 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 176.33 Td (31,449) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 162.33 Td (Other facility ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 201.90 162.38 Td (2,825) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 286.60 162.33 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 360.60 162.38 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 404.90 162.33 Td (2,825) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 467.40 162.33 Td (129) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 162.33 Td (2,696) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 171.00 145.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 193.20 145.38 Td (497,640) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 227.00 145.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 272.30 145.33 Td (\(2,934) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 294.40 145.33 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 300.00 145.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 355.40 145.33 Td (898) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 374.00 145.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 396.20 145.33 Td (495,604) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 430.00 145.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 460.90 145.33 Td (4,755) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 145.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 145.33 Td (490,849) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.25 42.95 Td (Page 13) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 686.10 Td (Future ) Tj ET Q q 0 0 0 rg BT 96.96 686.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 128.42 686.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 164.64 686.10 Td (and ) Tj ET Q q 0 0 0 rg BT 180.08 686.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 210.24 686.10 Td (schedule, ) Tj ET Q q 0 0 0 rg BT 246.03 686.10 Td (excluding ) Tj ET Q q 0 0 0 rg BT 281.40 686.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 326.28 686.10 Td (of ) Tj ET Q q 0 0 0 rg BT 335.22 686.10 Td (mark-to-market ) Tj ET Q q 0 0 0 rg BT 390.47 686.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 434.93 686.10 Td (and ) Tj ET Q q 0 0 0 rg BT 450.37 686.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 490.93 686.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 513.73 686.10 Td (on ) Tj ET Q q 0 0 0 rg BT 524.84 686.10 Td (debt ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 674.70 Td (as ) Tj ET Q q 0 0 0 rg BT 82.40 674.70 Td (at ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 91.06 674.70 Td (March31, ) Tj ET Q q 0 0 0 rg BT 127.87 674.70 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 145.20 674.70 Td ( ) Tj ET Q q 0 0 0 rg BT 147.37 674.70 Td (are ) Tj ET Q q 0 0 0 rg BT 160.79 674.70 Td (as ) Tj ET Q q 0 0 0 rg BT 171.19 674.70 Td (follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 664.2 m 468.5 664.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 664.2 m 539.5 664.2 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 71.5 574.2 m 468.5 574.2 l s 0 0 0 RG /GS0 gs 0.25 w 0 i [] 0 d 0 J 0 j 3 M 468.5 574.2 m 539.5 574.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 559.2 m 468.5 559.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 559.2 m 539.5 559.2 l s BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 653.73 Td (Remainder of 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 471.00 653.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 516.90 653.73 Td (4,051) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 638.73 Td (2017) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 508.20 638.73 Td (203,962) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 623.73 Td (2018) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 508.20 623.73 Td (201,022) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 608.73 Td (2019) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 512.55 608.73 Td (14,041) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 593.73 Td (2020) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 516.90 593.73 Td (3,429) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 578.73 Td (Thereafter) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 512.55 578.73 Td (68,931) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 471.00 563.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 508.20 563.73 Td (495,436) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 539.30 Td (9. ) Tj ET Q q 0 0 0 rg BT 94.50 539.30 Td (Security deposits and provisions) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 518.90 Td (Security deposits and provisions are comprised the following: ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 508.4 m 380.5 508.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 493.4 m 380.5 493.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 508.4 m 395.5 508.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 493.4 m 395.5 493.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 508.4 m 460.5 508.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 493.4 m 460.5 493.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 508.4 m 475.5 508.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 460.5 493.4 m 475.5 493.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 508.4 m 540.5 508.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 493.4 m 540.5 493.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 493.4 m 460.5 493.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 460.5 493.4 m 475.5 493.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 493.4 m 540.5 493.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 463.4 m 380.5 463.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 448.4 m 380.5 448.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 463.4 m 395.5 463.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 448.4 m 395.5 448.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 463.4 m 460.5 463.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 448.4 m 460.5 448.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 460.5 463.4 m 475.5 463.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 448.4 m 475.5 448.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 463.4 m 540.5 463.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 448.4 m 540.5 448.4 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 401.55 497.93 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.55 497.93 Td (December 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 482.93 Td (Security deposits) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 398.00 482.93 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 437.90 482.93 Td (4,086) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 478.00 482.93 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 482.93 Td (4,216) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 467.93 Td (Provisions) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 448.70 467.93 Td (19) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 528.70 467.93 Td (19) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 398.00 452.93 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 437.90 452.93 Td (4,105) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 478.00 452.93 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 452.93 Td (4,235) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 429.60 Td (10. ) Tj ET Q q 0 0 0 rg BT 99.00 429.60 Td (Interest ) Tj ET Q q 0 0 0 rg BT 129.31 429.60 Td (rate ) Tj ET Q q 0 0 0 rg BT 145.76 429.60 Td (swaps) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 412.20 Td (The ) Tj ET Q q 0 0 0 rg BT 87.45 412.20 Td (REIT) Tj ET Q q 0 0 0 rg BT 105.06 412.20 Td ( ) Tj ET Q q 0 0 0 rg BT 107.09 412.20 Td (enters ) Tj ET Q q 0 0 0 rg BT 130.77 412.20 Td (into ) Tj ET Q q 0 0 0 rg BT 145.36 412.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 172.93 412.20 Td (rate ) Tj ET Q q 0 0 0 rg BT 188.39 412.20 Td (swaps ) Tj ET Q q 0 0 0 rg BT 212.49 412.20 Td (to ) Tj ET Q q 0 0 0 rg BT 221.02 412.20 Td (reduce ) Tj ET Q q 0 0 0 rg BT 246.87 412.20 Td (the ) Tj ET Q q 0 0 0 rg BT 259.72 412.20 Td (impact ) Tj ET Q q 0 0 0 rg BT 284.70 412.20 Td (of ) Tj ET Q q 0 0 0 rg BT 293.22 412.20 Td (certain ) Tj ET Q q 0 0 0 rg BT 318.64 412.20 Td (mortgages ) Tj ET Q q 0 0 0 rg BT 357.47 412.20 Td (payable ) Tj ET Q q 0 0 0 rg BT 386.79 412.20 Td (with ) Tj ET Q q 0 0 0 rg BT 402.67 412.20 Td (fluctuating ) Tj ET Q q 0 0 0 rg BT 440.21 412.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 467.79 412.20 Td (rates. ) Tj ET Q q 0 0 0 rg BT 489.18 412.20 Td (The ) Tj ET Q q 0 0 0 rg BT 504.63 412.20 Td (swaps ) Tj ET Q q 0 0 0 rg BT 528.74 412.20 Td (are ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 400.80 Td (derivative ) Tj ET Q q 0 0 0 rg BT 108.03 400.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 139.31 400.80 Td (instruments ) Tj ET Q q 0 0 0 rg BT 182.27 400.80 Td (that ) Tj ET Q q 0 0 0 rg BT 197.96 400.80 Td (require ) Tj ET Q q 0 0 0 rg BT 224.89 400.80 Td (a ) Tj ET Q q 0 0 0 rg BT 231.92 400.80 Td (periodic ) Tj ET Q q 0 0 0 rg BT 261.89 400.80 Td (exchange ) Tj ET Q q 0 0 0 rg BT 298.36 400.80 Td (of ) Tj ET Q q 0 0 0 rg BT 307.55 400.80 Td (payments ) Tj ET Q q 0 0 0 rg BT 344.02 400.80 Td (with ) Tj ET Q q 0 0 0 rg BT 360.56 400.80 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 412.62 400.80 Td (without ) Tj ET Q q 0 0 0 rg BT 440.00 400.80 Td (the ) Tj ET Q q 0 0 0 rg BT 453.52 400.80 Td (exchange ) Tj ET Q q 0 0 0 rg BT 490.00 400.80 Td (of ) Tj ET Q q 0 0 0 rg BT 499.19 400.80 Td (the ) Tj ET Q q 0 0 0 rg BT 512.71 400.80 Td (notional ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 389.40 Td (amount ) Tj ET Q q 0 0 0 rg BT 100.05 389.40 Td (on ) Tj ET Q q 0 0 0 rg BT 110.79 389.40 Td (which ) Tj ET Q q 0 0 0 rg BT 132.77 389.40 Td (the ) Tj ET Q q 0 0 0 rg BT 145.66 389.40 Td (payments ) Tj ET Q q 0 0 0 rg BT 181.51 389.40 Td (are ) Tj ET Q q 0 0 0 rg BT 194.84 389.40 Td (based. ) Tj ET Q q 0 0 0 rg BT 220.17 389.40 Td (The ) Tj ET Q q 0 0 0 rg BT 235.66 389.40 Td (recorded ) Tj ET Q q 0 0 0 rg BT 268.47 389.40 Td (interest ) Tj ET Q q 0 0 0 rg BT 296.09 389.40 Td (expense ) Tj ET Q q 0 0 0 rg BT 327.61 389.40 Td (on ) Tj ET Q q 0 0 0 rg BT 338.34 389.40 Td (the ) Tj ET Q q 0 0 0 rg BT 351.24 389.40 Td (underlying ) Tj ET Q q 0 0 0 rg BT 389.25 389.40 Td (mortgages ) Tj ET Q q 0 0 0 rg BT 428.13 389.40 Td (payable ) Tj ET Q q 0 0 0 rg BT 457.49 389.40 Td (reflects ) Tj ET Q q 0 0 0 rg BT 484.67 389.40 Td (payments ) Tj ET Q q 0 0 0 rg BT 520.51 389.40 Td (made ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 378.00 Td (and ) Tj ET Q q 0 0 0 rg BT 87.50 378.00 Td (received ) Tj ET Q q 0 0 0 rg BT 119.46 378.00 Td (under ) Tj ET Q q 0 0 0 rg BT 141.89 378.00 Td (the ) Tj ET Q q 0 0 0 rg BT 155.22 378.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 183.28 378.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 199.21 378.00 Td (swaps. ) Tj ET Q q 0 0 0 rg BT 225.81 378.00 Td (These ) Tj ET Q q 0 0 0 rg BT 249.97 378.00 Td (swaps ) Tj ET Q q 0 0 0 rg BT 274.55 378.00 Td (are ) Tj ET Q q 0 0 0 rg BT 288.32 378.00 Td (not ) Tj ET Q q 0 0 0 rg BT 301.65 378.00 Td (designated ) Tj ET Q q 0 0 0 rg BT 342.28 378.00 Td (as ) Tj ET Q q 0 0 0 rg BT 353.02 378.00 Td (hedging ) Tj ET Q q 0 0 0 rg BT 383.25 378.00 Td (instruments ) Tj ET Q q 0 0 0 rg BT 426.02 378.00 Td (that ) Tj ET Q q 0 0 0 rg BT 441.53 378.00 Td (qualify ) Tj ET Q q 0 0 0 rg BT 466.55 378.00 Td (for ) Tj ET Q q 0 0 0 rg BT 478.15 378.00 Td (hedge ) Tj ET Q q 0 0 0 rg BT 502.32 378.00 Td (accounting ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 366.60 Td (under ) Tj ET Q q 0 0 0 rg BT 94.09 366.60 Td (IFRS. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 349.20 Td (The ) Tj ET Q q 0 0 0 rg BT 88.02 349.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 116.16 349.20 Td (rate ) Tj ET Q q 0 0 0 rg BT 132.18 349.20 Td (swaps ) Tj ET Q q 0 0 0 rg BT 156.85 349.20 Td (are ) Tj ET Q q 0 0 0 rg BT 170.70 349.20 Td (measured ) Tj ET Q q 0 0 0 rg BT 207.93 349.20 Td (at ) Tj ET Q q 0 0 0 rg BT 217.02 349.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 230.44 349.20 Td (value ) Tj ET Q q 0 0 0 rg BT 251.65 349.20 Td (with ) Tj ET Q q 0 0 0 rg BT 268.10 349.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 281.51 349.20 Td (values ) Tj ET Q q 0 0 0 rg BT 306.62 349.20 Td (calculated ) Tj ET Q q 0 0 0 rg BT 344.30 349.20 Td (as ) Tj ET Q q 0 0 0 rg BT 355.12 349.20 Td (the ) Tj ET Q q 0 0 0 rg BT 368.54 349.20 Td (present ) Tj ET Q q 0 0 0 rg BT 397.12 349.20 Td (value ) Tj ET Q q 0 0 0 rg BT 418.34 349.20 Td (of ) Tj ET Q q 0 0 0 rg BT 427.43 349.20 Td (contractual ) Tj ET Q q 0 0 0 rg BT 468.13 349.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 487.18 349.20 Td (flows ) Tj ET Q q 0 0 0 rg BT 507.52 349.20 Td (based ) Tj ET Q q 0 0 0 rg BT 531.34 349.20 Td (on ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 337.80 Td (forward ) Tj ET Q q 0 0 0 rg BT 100.14 337.80 Td (curves ) Tj ET Q q 0 0 0 rg BT 125.25 337.80 Td (and ) Tj ET Q q 0 0 0 rg BT 140.42 337.80 Td (an ) Tj ET Q q 0 0 0 rg BT 151.25 337.80 Td (applicable ) Tj ET Q q 0 0 0 rg BT 188.50 337.80 Td (yield ) Tj ET Q q 0 0 0 rg BT 206.69 337.80 Td (curve. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 320.40 Td (The ) Tj ET Q q 0 0 0 rg BT 87.59 320.40 Td (following ) Tj ET Q q 0 0 0 rg BT 120.07 320.40 Td (are ) Tj ET Q q 0 0 0 rg BT 133.49 320.40 Td (the ) Tj ET Q q 0 0 0 rg BT 146.49 320.40 Td (terms ) Tj ET Q q 0 0 0 rg BT 168.14 320.40 Td (and ) Tj ET Q q 0 0 0 rg BT 183.30 320.40 Td (fair ) Tj ET Q q 0 0 0 rg BT 196.29 320.40 Td (values ) Tj ET Q q 0 0 0 rg BT 220.98 320.40 Td (of ) Tj ET Q q 0 0 0 rg BT 229.64 320.40 Td (the ) Tj ET Q q 0 0 0 rg BT 242.64 320.40 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 267.94 320.40 Td (interest ) Tj ET Q q 0 0 0 rg BT 295.66 320.40 Td (rate ) Tj ET Q q 0 0 0 rg BT 311.25 320.40 Td (swaps: ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 303.9 m 137.5 303.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 303.9 m 147.5 303.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 147.5 303.9 m 213.5 303.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213.5 303.9 m 297.5 303.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 303.9 m 379.5 303.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 303.9 m 389.5 303.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 303.9 m 456.5 303.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 303.9 m 465.5 303.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 303.9 m 540.5 303.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 275.9 m 137.5 275.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 137.5 275.9 m 147.5 275.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 147.5 275.9 m 213.5 275.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 213.5 275.9 m 297.5 275.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 297.5 275.9 m 379.5 275.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379.5 275.9 m 389.5 275.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 275.9 m 456.5 275.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 456.5 275.9 m 465.5 275.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465.5 275.9 m 540.5 275.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 275.9 m 456.5 275.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 245.89999999999998 m 137.5 245.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 137.5 245.89999999999998 m 147.5 245.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 147.5 245.89999999999998 m 213.5 245.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 245.89999999999998 m 456.5 245.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 245.89999999999998 m 137.5 245.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 230.89999999999998 m 137.5 230.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 137.5 245.89999999999998 m 147.5 245.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 230.89999999999998 m 147.5 230.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 147.5 245.89999999999998 m 213.5 245.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 147.5 230.89999999999998 m 213.5 230.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 213.5 245.89999999999998 m 297.5 245.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213.5 230.89999999999998 m 297.5 230.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 297.5 245.89999999999998 m 379.5 245.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 230.89999999999998 m 379.5 230.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379.5 245.89999999999998 m 389.5 245.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 230.89999999999998 m 389.5 230.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389.5 245.89999999999998 m 456.5 245.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 230.89999999999998 m 456.5 230.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 456.5 245.89999999999998 m 465.5 245.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 230.89999999999998 m 465.5 230.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465.5 245.89999999999998 m 540.5 245.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 230.89999999999998 m 540.5 230.89999999999998 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 265.25 294.43 Td (Notional amount) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 446.30 294.43 Td (Fair value) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 280.43 Td (Maturity date) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 142.85 280.43 Td (Fixed interest rate) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 238.55 280.43 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 307.55 280.43 Td (December 31, 2015) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 397.55 280.43 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.55 280.43 Td (December 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 265.43 Td (Aug. 14, 2023) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 190.85 265.43 Td (4.60) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 206.05 265.43 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 270.55 265.43 Td (21,653) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 352.55 265.48 Td (21,790) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 433.90 265.43 Td (2,559) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 265.43 Td (2,163) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 250.43 Td (May 1, 2023) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 190.85 250.43 Td (3.68) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 206.05 250.43 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 270.55 250.43 Td (23,178) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 352.55 250.48 Td (23,347) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 433.90 250.43 Td (1,405) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 250.43 Td (990) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 392.00 235.43 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 433.90 235.43 Td (3,964) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.00 235.43 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 235.43 Td (3,153) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 214.00 Td (The following is a reconciliation of the change in the balance of the interest rate swap liability: ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 203.5 m 375.5 203.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 189.5 m 375.5 189.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 203.5 m 383.5 203.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375.5 189.5 m 383.5 189.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.5 203.5 m 458.5 203.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383.5 189.5 m 458.5 189.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 203.5 m 466.5 203.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 458.5 189.5 m 466.5 189.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 203.5 m 540.5 203.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466.5 189.5 m 540.5 189.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383.5 189.5 m 458.5 189.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466.5 189.5 m 540.5 189.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 144.5 m 375.5 144.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 129.5 m 375.5 129.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375.5 144.5 m 383.5 144.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 129.5 m 383.5 129.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383.5 144.5 m 458.5 144.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.5 129.5 m 458.5 129.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 458.5 144.5 m 466.5 144.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 129.5 m 466.5 129.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466.5 144.5 m 540.5 144.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 129.5 m 540.5 129.5 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 399.55 194.03 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.55 194.03 Td (December 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 179.03 Td (Balance, beginning of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 386.00 179.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 435.90 179.03 Td (3,153) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 469.00 179.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 179.03 Td (2,239) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 164.03 Td (Extinguishment) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 447.60 164.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 521.80 164.03 Td (\(651) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 164.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 149.03 Td (Fair value changes) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 442.40 149.03 Td (811) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 149.03 Td (1,565) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 134.03 Td (Balance, end of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 386.00 134.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 435.90 134.03 Td (3,964) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 469.00 134.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 134.03 Td (3,153) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 112.60 Td (1) Tj ET Q q 0 0 0 rg BT 75.91 112.60 Td (1. ) Tj ET Q q 0 0 0 rg BT 84.57 112.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.74 112.60 Td ( ) Tj ET Q q 0 0 0 rg BT 88.90 112.60 Td ( ) Tj ET Q q 0 0 0 rg BT 91.07 112.60 Td ( ) Tj ET Q q 0 0 0 rg BT 93.24 112.60 Td (Class ) Tj ET Q q 0 0 0 rg BT 116.19 112.60 Td (B ) Tj ET Q q 0 0 0 rg BT 123.98 112.60 Td (LP) Tj ET Q q 0 0 0 rg BT 133.80 112.60 Td ( ) Tj ET Q q 0 0 0 rg BT 135.97 112.60 Td (units) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 95.20 Td (Class ) Tj ET Q q 0 0 0 rg BT 93.85 95.20 Td (B ) Tj ET Q q 0 0 0 rg BT 101.43 95.20 Td (LP) Tj ET Q q 0 0 0 rg BT 110.82 95.20 Td ( ) Tj ET Q q 0 0 0 rg BT 113.20 95.20 Td (units ) Tj ET Q q 0 0 0 rg BT 132.03 95.20 Td (are ) Tj ET Q q 0 0 0 rg BT 145.67 95.20 Td (exchangeable ) Tj ET Q q 0 0 0 rg BT 196.56 95.20 Td (at ) Tj ET Q q 0 0 0 rg BT 205.44 95.20 Td (the ) Tj ET Q q 0 0 0 rg BT 218.65 95.20 Td (option ) Tj ET Q q 0 0 0 rg BT 242.25 95.20 Td (of ) Tj ET Q q 0 0 0 rg BT 251.13 95.20 Td (the ) Tj ET Q q 0 0 0 rg BT 264.33 95.20 Td (holder ) Tj ET Q q 0 0 0 rg BT 288.37 95.20 Td (into ) Tj ET Q q 0 0 0 rg BT 303.30 95.20 Td (trust ) Tj ET Q q 0 0 0 rg BT 320.84 95.20 Td (units ) Tj ET Q q 0 0 0 rg BT 339.67 95.20 Td (of ) Tj ET Q q 0 0 0 rg BT 348.55 95.20 Td (the ) Tj ET Q q 0 0 0 rg BT 361.76 95.20 Td (REIT) Tj ET Q q 0 0 0 rg BT 379.37 95.20 Td ( ) Tj ET Q q 0 0 0 rg BT 381.74 95.20 Td (on ) Tj ET Q q 0 0 0 rg BT 392.78 95.20 Td (a ) Tj ET Q q 0 0 0 rg BT 399.49 95.20 Td (one-for-one ) Tj ET Q q 0 0 0 rg BT 442.14 95.20 Td (basis ) Tj ET Q q 0 0 0 rg BT 462.71 95.20 Td (subject ) Tj ET Q q 0 0 0 rg BT 489.77 95.20 Td (to ) Tj ET Q q 0 0 0 rg BT 498.65 95.20 Td (normal ) Tj ET Q q 0 0 0 rg BT 524.84 95.20 Td (anti-) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 83.80 Td (dilution ) Tj ET Q q 0 0 0 rg BT 98.96 83.80 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 143.25 83.80 Td (and ) Tj ET Q q 0 0 0 rg BT 158.52 83.80 Td (are ) Tj ET Q q 0 0 0 rg BT 172.05 83.80 Td (entitled ) Tj ET Q q 0 0 0 rg BT 199.45 83.80 Td (to ) Tj ET Q q 0 0 0 rg BT 208.22 83.80 Td (distributions ) Tj ET Q q 0 0 0 rg BT 252.07 83.80 Td (of ) Tj ET Q q 0 0 0 rg BT 260.84 83.80 Td (cash, ) Tj ET Q q 0 0 0 rg BT 281.74 83.80 Td (as ) Tj ET Q q 0 0 0 rg BT 292.25 83.80 Td (applicable, ) Tj ET Q q 0 0 0 rg BT 331.77 83.80 Td (equal ) Tj ET Q q 0 0 0 rg BT 353.10 83.80 Td (to ) Tj ET Q q 0 0 0 rg BT 361.88 83.80 Td (the ) Tj ET Q q 0 0 0 rg BT 374.98 83.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 393.72 83.80 Td (distributions ) Tj ET Q q 0 0 0 rg BT 437.56 83.80 Td (paid ) Tj ET Q q 0 0 0 rg BT 454.57 83.80 Td (to ) Tj ET Q q 0 0 0 rg BT 463.34 83.80 Td (holders ) Tj ET Q q 0 0 0 rg BT 491.16 83.80 Td (of ) Tj ET Q q 0 0 0 rg BT 499.94 83.80 Td (units ) Tj ET Q q 0 0 0 rg BT 518.67 83.80 Td (by ) Tj ET Q q 0 0 0 rg BT 529.17 83.80 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 72.40 Td (REIT) Tj ET Q q 0 0 0 rg BT 88.88 72.40 Td (.) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.25 42.95 Td (Page 14) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 686.10 Td (Each ) Tj ET Q q 0 0 0 rg BT 91.99 686.10 Td (Class ) Tj ET Q q 0 0 0 rg BT 113.71 686.10 Td (B ) Tj ET Q q 0 0 0 rg BT 121.14 686.10 Td (LP) Tj ET Q q 0 0 0 rg BT 130.54 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 132.77 686.10 Td (unit ) Tj ET Q q 0 0 0 rg BT 147.57 686.10 Td (is ) Tj ET Q q 0 0 0 rg BT 155.44 686.10 Td (attached ) Tj ET Q q 0 0 0 rg BT 187.57 686.10 Td (to ) Tj ET Q q 0 0 0 rg BT 196.30 686.10 Td (a ) Tj ET Q q 0 0 0 rg BT 202.87 686.10 Td (special ) Tj ET Q q 0 0 0 rg BT 229.36 686.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 252.39 686.10 Td (unit ) Tj ET Q q 0 0 0 rg BT 267.19 686.10 Td (of ) Tj ET Q q 0 0 0 rg BT 275.92 686.10 Td (the ) Tj ET Q q 0 0 0 rg BT 288.99 686.10 Td (REIT) Tj ET Q q 0 0 0 rg BT 305.87 686.10 Td (, ) Tj ET Q q 0 0 0 rg BT 310.28 686.10 Td (providing ) Tj ET Q q 0 0 0 rg BT 344.13 686.10 Td (Class ) Tj ET Q q 0 0 0 rg BT 365.84 686.10 Td (B ) Tj ET Q q 0 0 0 rg BT 373.28 686.10 Td (LP) Tj ET Q q 0 0 0 rg BT 382.67 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 384.91 686.10 Td (unitholders ) Tj ET Q q 0 0 0 rg BT 425.26 686.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 448.29 686.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 469.57 686.10 Td (in ) Tj ET Q q 0 0 0 rg BT 477.87 686.10 Td (the ) Tj ET Q q 0 0 0 rg BT 490.94 686.10 Td (REIT) Tj ET Q q 0 0 0 rg BT 507.82 686.10 Td (. ) Tj ET Q q 0 0 0 rg BT 512.23 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 514.46 686.10 Td (Special ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 674.70 Td (voting ) Tj ET Q q 0 0 0 rg BT 95.62 674.70 Td (units ) Tj ET Q q 0 0 0 rg BT 114.91 674.70 Td (have ) Tj ET Q q 0 0 0 rg BT 134.64 674.70 Td (no ) Tj ET Q q 0 0 0 rg BT 146.13 674.70 Td (economic ) Tj ET Q q 0 0 0 rg BT 182.31 674.70 Td (entitlement ) Tj ET Q q 0 0 0 rg BT 223.25 674.70 Td (in ) Tj ET Q q 0 0 0 rg BT 232.15 674.70 Td (the ) Tj ET Q q 0 0 0 rg BT 245.81 674.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 263.42 674.70 Td ( ) Tj ET Q q 0 0 0 rg BT 266.25 674.70 Td (but ) Tj ET Q q 0 0 0 rg BT 279.91 674.70 Td (entitle ) Tj ET Q q 0 0 0 rg BT 303.53 674.70 Td (the ) Tj ET Q q 0 0 0 rg BT 317.20 674.70 Td (holder ) Tj ET Q q 0 0 0 rg BT 341.68 674.70 Td (to ) Tj ET Q q 0 0 0 rg BT 351.01 674.70 Td (one ) Tj ET Q q 0 0 0 rg BT 366.84 674.70 Td (vote ) Tj ET Q q 0 0 0 rg BT 384.40 674.70 Td (per ) Tj ET Q q 0 0 0 rg BT 398.49 674.70 Td (special ) Tj ET Q q 0 0 0 rg BT 425.57 674.70 Td (voting ) Tj ET Q q 0 0 0 rg BT 449.19 674.70 Td (unit ) Tj ET Q q 0 0 0 rg BT 464.58 674.70 Td (at ) Tj ET Q q 0 0 0 rg BT 473.92 674.70 Td (any ) Tj ET Q q 0 0 0 rg BT 489.31 674.70 Td (meeting ) Tj ET Q q 0 0 0 rg BT 519.86 674.70 Td (of ) Tj ET Q q 0 0 0 rg BT 529.19 674.70 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 663.30 Td (unitholders ) Tj ET Q q 0 0 0 rg BT 112.35 663.30 Td (of ) Tj ET Q q 0 0 0 rg BT 121.09 663.30 Td (the ) Tj ET Q q 0 0 0 rg BT 134.17 663.30 Td (REIT) Tj ET Q q 0 0 0 rg BT 151.05 663.30 Td (. ) Tj ET Q q 0 0 0 rg BT 155.45 663.30 Td ( ) Tj ET Q q 0 0 0 rg BT 157.69 663.30 Td (Special ) Tj ET Q q 0 0 0 rg BT 185.48 663.30 Td (voting ) Tj ET Q q 0 0 0 rg BT 208.52 663.30 Td (units ) Tj ET Q q 0 0 0 rg BT 227.22 663.30 Td (are ) Tj ET Q q 0 0 0 rg BT 240.71 663.30 Td (not ) Tj ET Q q 0 0 0 rg BT 253.79 663.30 Td (transferable ) Tj ET Q q 0 0 0 rg BT 297.17 663.30 Td (separately ) Tj ET Q q 0 0 0 rg BT 335.36 663.30 Td (from ) Tj ET Q q 0 0 0 rg BT 353.18 663.30 Td (the ) Tj ET Q q 0 0 0 rg BT 366.25 663.30 Td (Class ) Tj ET Q q 0 0 0 rg BT 387.97 663.30 Td (B ) Tj ET Q q 0 0 0 rg BT 395.41 663.30 Td (LP) Tj ET Q q 0 0 0 rg BT 404.80 663.30 Td ( ) Tj ET Q q 0 0 0 rg BT 407.04 663.30 Td (units ) Tj ET Q q 0 0 0 rg BT 425.74 663.30 Td (to ) Tj ET Q q 0 0 0 rg BT 434.48 663.30 Td (which ) Tj ET Q q 0 0 0 rg BT 456.63 663.30 Td (they ) Tj ET Q q 0 0 0 rg BT 473.60 663.30 Td (are ) Tj ET Q q 0 0 0 rg BT 487.10 663.30 Td (attached. ) Tj ET Q q 0 0 0 rg BT 521.40 663.30 Td (Upon ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 651.90 Td (the ) Tj ET Q q 0 0 0 rg BT 84.60 651.90 Td (exchange ) Tj ET Q q 0 0 0 rg BT 120.16 651.90 Td (or ) Tj ET Q q 0 0 0 rg BT 128.85 651.90 Td (surrender ) Tj ET Q q 0 0 0 rg BT 163.96 651.90 Td (of ) Tj ET Q q 0 0 0 rg BT 172.23 651.90 Td (a ) Tj ET Q q 0 0 0 rg BT 178.33 651.90 Td (Class ) Tj ET Q q 0 0 0 rg BT 199.57 651.90 Td (B ) Tj ET Q q 0 0 0 rg BT 206.54 651.90 Td (LP) Tj ET Q q 0 0 0 rg BT 215.93 651.90 Td ( ) Tj ET Q q 0 0 0 rg BT 217.70 651.90 Td (units ) Tj ET Q q 0 0 0 rg BT 235.93 651.90 Td (for ) Tj ET Q q 0 0 0 rg BT 246.79 651.90 Td (units ) Tj ET Q q 0 0 0 rg BT 265.01 651.90 Td (of ) Tj ET Q q 0 0 0 rg BT 273.28 651.90 Td (the ) Tj ET Q q 0 0 0 rg BT 285.88 651.90 Td (REIT) Tj ET Q q 0 0 0 rg BT 302.76 651.90 Td (, ) Tj ET Q q 0 0 0 rg BT 306.70 651.90 Td (the ) Tj ET Q q 0 0 0 rg BT 319.30 651.90 Td (special ) Tj ET Q q 0 0 0 rg BT 345.32 651.90 Td (voting ) Tj ET Q q 0 0 0 rg BT 367.88 651.90 Td (unit ) Tj ET Q q 0 0 0 rg BT 382.21 651.90 Td (attached ) Tj ET Q q 0 0 0 rg BT 413.87 651.90 Td (to ) Tj ET Q q 0 0 0 rg BT 422.14 651.90 Td (a ) Tj ET Q q 0 0 0 rg BT 428.24 651.90 Td (Class ) Tj ET Q q 0 0 0 rg BT 449.48 651.90 Td (B ) Tj ET Q q 0 0 0 rg BT 456.45 651.90 Td (LP) Tj ET Q q 0 0 0 rg BT 465.84 651.90 Td ( ) Tj ET Q q 0 0 0 rg BT 467.61 651.90 Td (unit ) Tj ET Q q 0 0 0 rg BT 481.94 651.90 Td (will ) Tj ET Q q 0 0 0 rg BT 494.52 651.90 Td (automatically ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 640.50 Td (be ) Tj ET Q q 0 0 0 rg BT 82.83 640.50 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 120.08 640.50 Td (and ) Tj ET Q q 0 0 0 rg BT 135.24 640.50 Td (canceled. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 623.10 Td (The ) Tj ET Q q 0 0 0 rg BT 87.43 623.10 Td (Class ) Tj ET Q q 0 0 0 rg BT 108.91 623.10 Td (B ) Tj ET Q q 0 0 0 rg BT 116.10 623.10 Td (LP) Tj ET Q q 0 0 0 rg BT 125.50 623.10 Td ( ) Tj ET Q q 0 0 0 rg BT 127.50 623.10 Td (units ) Tj ET Q q 0 0 0 rg BT 145.96 623.10 Td (are ) Tj ET Q q 0 0 0 rg BT 159.22 623.10 Td (re-measured ) Tj ET Q q 0 0 0 rg BT 205.38 623.10 Td (based ) Tj ET Q q 0 0 0 rg BT 228.61 623.10 Td (on ) Tj ET Q q 0 0 0 rg BT 239.27 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 252.11 623.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 277.94 623.10 Td (closing ) Tj ET Q q 0 0 0 rg BT 304.19 623.10 Td (price ) Tj ET Q q 0 0 0 rg BT 323.08 623.10 Td (of ) Tj ET Q q 0 0 0 rg BT 331.58 623.10 Td (REIT) Tj ET Q q 0 0 0 rg BT 349.19 623.10 Td ( ) Tj ET Q q 0 0 0 rg BT 351.19 623.10 Td (units ) Tj ET Q q 0 0 0 rg BT 369.65 623.10 Td (into ) Tj ET Q q 0 0 0 rg BT 384.21 623.10 Td (which ) Tj ET Q q 0 0 0 rg BT 406.13 623.10 Td (they ) Tj ET Q q 0 0 0 rg BT 422.86 623.10 Td (are ) Tj ET Q q 0 0 0 rg BT 436.12 623.10 Td (exchangeable ) Tj ET Q q 0 0 0 rg BT 486.63 623.10 Td (with ) Tj ET Q q 0 0 0 rg BT 502.49 623.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 533.94 623.10 Td (in ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 611.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 84.99 611.70 Td (value ) Tj ET Q q 0 0 0 rg BT 105.78 611.70 Td (recognized ) Tj ET Q q 0 0 0 rg BT 146.06 611.70 Td (in ) Tj ET Q q 0 0 0 rg BT 154.29 611.70 Td (net ) Tj ET Q q 0 0 0 rg BT 167.29 611.70 Td (income. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 594.30 Td (The ) Tj ET Q q 0 0 0 rg BT 87.59 594.30 Td (change ) Tj ET Q q 0 0 0 rg BT 115.32 594.30 Td (in ) Tj ET Q q 0 0 0 rg BT 123.55 594.30 Td (Class ) Tj ET Q q 0 0 0 rg BT 145.19 594.30 Td (B ) Tj ET Q q 0 0 0 rg BT 152.55 594.30 Td (LP) Tj ET Q q 0 0 0 rg BT 161.95 594.30 Td ( ) Tj ET Q q 0 0 0 rg BT 164.11 594.30 Td (units ) Tj ET Q q 0 0 0 rg BT 182.74 594.30 Td (during ) Tj ET Q q 0 0 0 rg BT 206.56 594.30 Td (the ) Tj ET Q q 0 0 0 rg BT 219.56 594.30 Td (periods ) Tj ET Q q 0 0 0 rg BT 247.27 594.30 Td (are ) Tj ET Q q 0 0 0 rg BT 260.70 594.30 Td (as ) Tj ET Q q 0 0 0 rg BT 271.09 594.30 Td (follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 577.8 m 262.5 577.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 577.8 m 290.5 577.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 577.8 m 350.5 577.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 290.5 565.8 m 350.5 565.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 577.8 m 415.5 577.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 350.5 565.8 m 415.5 565.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 577.8 m 475.5 577.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 415.5 565.8 m 475.5 565.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 577.8 m 540.5 577.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 565.8 m 540.5 565.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 553.8 m 262.5 553.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 262.5 553.8 m 290.5 553.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 290.5 553.8 m 350.5 553.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 350.5 553.8 m 415.5 553.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 415.5 553.8 m 475.5 553.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 553.8 m 540.5 553.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 290.5 553.8 m 350.5 553.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 350.5 553.8 m 415.5 553.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 415.5 553.8 m 475.5 553.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 553.8 m 540.5 553.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 508.8 m 262.5 508.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 493.8 m 262.5 493.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 262.5 508.8 m 290.5 508.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 493.8 m 290.5 493.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 290.5 508.8 m 350.5 508.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 493.8 m 350.5 493.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 350.5 508.8 m 415.5 508.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 493.8 m 415.5 493.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 415.5 508.8 m 475.5 508.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 493.8 m 475.5 493.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 508.8 m 540.5 508.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 493.8 m 540.5 493.8 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 324.75 568.38 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 443.25 568.38 Td (December 31, 2015) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 327.50 556.38 Td (Units) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 382.55 556.38 Td (Amount) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 454.25 556.38 Td (Units) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 510.15 556.38 Td (Amount) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 543.33 Td (Balance, beginning of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 312.70 543.33 Td (5,285,160) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 353.00 543.33 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 388.55 543.33 Td (37,260) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 437.70 543.33 Td (5,073,818) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 478.00 543.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 543.33 Td (38,460) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 528.33 Td (Issuances) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 339.60 528.38 Td () Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 404.60 528.33 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 444.20 528.33 Td (211,342) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 528.33 Td (1,491) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 513.33 Td (Fair value changes) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 339.60 513.38 Td () Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 392.90 513.33 Td (4,440) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 464.60 513.33 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 513.33 Td (\(2,691) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 513.33 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 498.33 Td (Balance, end of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 312.70 498.33 Td (5,285,160) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 353.00 498.33 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 388.55 498.33 Td (41,700) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 437.70 498.33 Td (5,285,160) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 478.00 498.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 498.33 Td (37,260) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 476.90 Td (12. ) Tj ET Q q 0 0 0 rg BT 91.21 476.90 Td (Accounts payable and other liabilities) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 459.50 Td (Accounts payable and other liabilities is comprised of the following:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 449 m 380.5 449 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 434 m 380.5 434 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 449 m 395.5 449 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 434 m 395.5 434 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 449 m 460.5 449 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 434 m 460.5 434 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 449 m 475.5 449 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 460.5 434 m 475.5 434 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 449 m 540.5 449 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 434 m 540.5 434 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 434 m 460.5 434 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 460.5 434 m 475.5 434 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 434 m 540.5 434 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 389 m 380.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 374 m 380.5 374 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 389 m 395.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 374 m 395.5 374 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 389 m 460.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 374 m 460.5 374 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 460.5 389 m 475.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 374 m 475.5 374 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 389 m 540.5 389 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 374 m 540.5 374 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 401.55 438.53 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.55 438.53 Td (December 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 423.53 Td (Trade payables and accrued liabilities) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 398.00 423.53 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 433.55 423.53 Td (20,683) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 478.00 423.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 423.53 Td (17,260) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 408.53 Td (Prepaid rent) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 437.90 408.53 Td (2,026) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 408.53 Td (2,460) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 393.53 Td (Tenant improvement payable) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 437.90 393.53 Td (1,006) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 393.53 Td (866) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 398.00 378.53 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 433.55 378.53 Td (23,715) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 478.00 378.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 378.53 Td (20,586) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 357.10 Td (13. Unitholders) Tj ET Q q 0 0 0 rg BT 138.68 357.10 Td ( equity) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 339.70 Td (The ) Tj ET Q q 0 0 0 rg BT 87.39 339.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 105.00 339.70 Td ( ) Tj ET Q q 0 0 0 rg BT 106.97 339.70 Td (is ) Tj ET Q q 0 0 0 rg BT 114.57 339.70 Td (authorized ) Tj ET Q q 0 0 0 rg BT 152.92 339.70 Td (to ) Tj ET Q q 0 0 0 rg BT 161.39 339.70 Td (issue ) Tj ET Q q 0 0 0 rg BT 181.55 339.70 Td (an ) Tj ET Q q 0 0 0 rg BT 192.18 339.70 Td (unlimited ) Tj ET Q q 0 0 0 rg BT 225.33 339.70 Td (number ) Tj ET Q q 0 0 0 rg BT 253.71 339.70 Td (of ) Tj ET Q q 0 0 0 rg BT 262.18 339.70 Td (trust ) Tj ET Q q 0 0 0 rg BT 279.31 339.70 Td (units. ) Tj ET Q q 0 0 0 rg BT 299.90 339.70 Td (Each ) Tj ET Q q 0 0 0 rg BT 319.63 339.70 Td (trust ) Tj ET Q q 0 0 0 rg BT 336.75 339.70 Td (unit ) Tj ET Q q 0 0 0 rg BT 351.28 339.70 Td (represents ) Tj ET Q q 0 0 0 rg BT 390.06 339.70 Td (a ) Tj ET Q q 0 0 0 rg BT 396.37 339.70 Td (proportionate ) Tj ET Q q 0 0 0 rg BT 444.25 339.70 Td (undivided ) Tj ET Q q 0 0 0 rg BT 479.57 339.70 Td (beneficial ) Tj ET Q q 0 0 0 rg BT 514.45 339.70 Td (interest ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 328.30 Td (and ) Tj ET Q q 0 0 0 rg BT 87.10 328.30 Td (voting ) Tj ET Q q 0 0 0 rg BT 109.98 328.30 Td (right ) Tj ET Q q 0 0 0 rg BT 127.24 328.30 Td (in ) Tj ET Q q 0 0 0 rg BT 135.40 328.30 Td (the ) Tj ET Q q 0 0 0 rg BT 148.33 328.30 Td (REIT) Tj ET Q q 0 0 0 rg BT 165.94 328.30 Td ( ) Tj ET Q q 0 0 0 rg BT 168.03 328.30 Td (and ) Tj ET Q q 0 0 0 rg BT 183.13 328.30 Td (entitles ) Tj ET Q q 0 0 0 rg BT 209.91 328.30 Td (the ) Tj ET Q q 0 0 0 rg BT 222.84 328.30 Td (holder ) Tj ET Q q 0 0 0 rg BT 246.59 328.30 Td (to ) Tj ET Q q 0 0 0 rg BT 255.19 328.30 Td (an ) Tj ET Q q 0 0 0 rg BT 265.95 328.30 Td (equal ) Tj ET Q q 0 0 0 rg BT 287.11 328.30 Td (participation ) Tj ET Q q 0 0 0 rg BT 331.22 328.30 Td (in ) Tj ET Q q 0 0 0 rg BT 339.38 328.30 Td (distributions ) Tj ET Q q 0 0 0 rg BT 383.05 328.30 Td (of ) Tj ET Q q 0 0 0 rg BT 391.65 328.30 Td (the ) Tj ET Q q 0 0 0 rg BT 404.58 328.30 Td (REIT) Tj ET Q q 0 0 0 rg BT 421.46 328.30 Td (. ) Tj ET Q q 0 0 0 rg BT 425.59 328.30 Td (The ) Tj ET Q q 0 0 0 rg BT 441.11 328.30 Td (trust ) Tj ET Q q 0 0 0 rg BT 458.37 328.30 Td (units ) Tj ET Q q 0 0 0 rg BT 476.92 328.30 Td (are ) Tj ET Q q 0 0 0 rg BT 490.28 328.30 Td (redeemable ) Tj ET Q q 0 0 0 rg BT 533.52 328.30 Td (at ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 316.90 Td (the ) Tj ET Q q 0 0 0 rg BT 85.00 316.90 Td (option ) Tj ET Q q 0 0 0 rg BT 108.39 316.90 Td (of ) Tj ET Q q 0 0 0 rg BT 117.06 316.90 Td (the ) Tj ET Q q 0 0 0 rg BT 130.06 316.90 Td (holder ) Tj ET Q q 0 0 0 rg BT 153.88 316.90 Td (at ) Tj ET Q q 0 0 0 rg BT 162.54 316.90 Td (any ) Tj ET Q q 0 0 0 rg BT 177.27 316.90 Td (time.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 299.50 Td (The ) Tj ET Q q 0 0 0 rg BT 87.93 299.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 105.53 299.50 Td ( ) Tj ET Q q 0 0 0 rg BT 108.04 299.50 Td (is ) Tj ET Q q 0 0 0 rg BT 116.16 299.50 Td (also ) Tj ET Q q 0 0 0 rg BT 132.96 299.50 Td (authorized ) Tj ET Q q 0 0 0 rg BT 171.84 299.50 Td (to ) Tj ET Q q 0 0 0 rg BT 180.84 299.50 Td (create ) Tj ET Q q 0 0 0 rg BT 204.99 299.50 Td (and ) Tj ET Q q 0 0 0 rg BT 220.49 299.50 Td (issue ) Tj ET Q q 0 0 0 rg BT 241.18 299.50 Td (an ) Tj ET Q q 0 0 0 rg BT 252.35 299.50 Td (unlimited ) Tj ET Q q 0 0 0 rg BT 286.03 299.50 Td (number ) Tj ET Q q 0 0 0 rg BT 314.94 299.50 Td (of ) Tj ET Q q 0 0 0 rg BT 323.94 299.50 Td (preferred ) Tj ET Q q 0 0 0 rg BT 358.05 299.50 Td (units, ) Tj ET Q q 0 0 0 rg BT 379.18 299.50 Td (in ) Tj ET Q q 0 0 0 rg BT 387.74 299.50 Td (one ) Tj ET Q q 0 0 0 rg BT 403.24 299.50 Td (or ) Tj ET Q q 0 0 0 rg BT 412.67 299.50 Td (more ) Tj ET Q q 0 0 0 rg BT 432.91 299.50 Td (classes ) Tj ET Q q 0 0 0 rg BT 461.40 299.50 Td (comprised ) Tj ET Q q 0 0 0 rg BT 499.83 299.50 Td (of ) Tj ET Q q 0 0 0 rg BT 508.83 299.50 Td (unlimited ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 288.10 Td (series, ) Tj ET Q q 0 0 0 rg BT 96.56 288.10 Td (having ) Tj ET Q q 0 0 0 rg BT 121.13 288.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 142.22 288.10 Td (and ) Tj ET Q q 0 0 0 rg BT 156.83 288.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 193.52 288.10 Td (as ) Tj ET Q q 0 0 0 rg BT 203.36 288.10 Td (may ) Tj ET Q q 0 0 0 rg BT 219.69 288.10 Td (be ) Tj ET Q q 0 0 0 rg BT 229.97 288.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 270.55 288.10 Td (by ) Tj ET Q q 0 0 0 rg BT 280.39 288.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.84 288.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 315.23 288.10 Td (of ) Tj ET Q q 0 0 0 rg BT 323.24 288.10 Td (T) Tj ET Q q 0 0 0 rg BT 327.72 288.10 Td (rustees ) Tj ET Q q 0 0 0 rg BT 354.88 288.10 Td (from ) Tj ET Q q 0 0 0 rg BT 372.08 288.10 Td (time ) Tj ET Q q 0 0 0 rg BT 388.41 288.10 Td (to ) Tj ET Q q 0 0 0 rg BT 396.52 288.10 Td (time. ) Tj ET Q q 0 0 0 rg BT 415.01 288.10 Td (No ) Tj ET Q q 0 0 0 rg BT 426.58 288.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 459.80 288.10 Td (units ) Tj ET Q q 0 0 0 rg BT 477.87 288.10 Td (have ) Tj ET Q q 0 0 0 rg BT 496.38 288.10 Td (been ) Tj ET Q q 0 0 0 rg BT 515.32 288.10 Td (issued.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 270.70 Td (The change in trust units during the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 196.31 270.70 Td (three months ended March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 321.92 270.70 Td ( and the year ended ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 393.40 270.70 Td (December31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 461.83 270.70 Td ( is as follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 260.20000000000005 m 269.5 260.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 260.20000000000005 m 300.5 260.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 260.20000000000005 m 360.5 260.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300.5 247.20000000000005 m 360.5 247.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 260.20000000000005 m 420.5 260.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 247.20000000000005 m 420.5 247.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 260.20000000000005 m 480.5 260.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 247.20000000000005 m 480.5 247.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 260.20000000000005 m 540.5 260.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 247.20000000000005 m 540.5 247.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 235.20000000000005 m 269.5 235.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 269.5 235.20000000000005 m 300.5 235.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300.5 235.20000000000005 m 360.5 235.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 235.20000000000005 m 420.5 235.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 235.20000000000005 m 480.5 235.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 235.20000000000005 m 540.5 235.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 235.20000000000005 m 480.5 235.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 235.20000000000005 m 540.5 235.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 146.20000000000005 m 269.5 146.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 131.20000000000005 m 269.5 131.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 269.5 146.20000000000005 m 300.5 146.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 131.20000000000005 m 300.5 131.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300.5 146.20000000000005 m 360.5 146.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 131.20000000000005 m 360.5 131.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 146.20000000000005 m 420.5 146.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 131.20000000000005 m 420.5 131.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 146.20000000000005 m 480.5 146.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 131.20000000000005 m 480.5 131.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 146.20000000000005 m 540.5 146.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 131.20000000000005 m 540.5 131.20000000000005 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 332.25 250.78 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 445.75 250.78 Td (December 31, 2015) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 275.80 237.78 Td (Note) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 337.50 237.78 Td (Units) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 387.55 237.78 Td (Amount) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 459.25 237.78 Td (Units) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 510.15 237.78 Td (Amount) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 224.73 Td (Balance, beginning of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 318.40 224.73 Td (30,041,430) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 363.00 224.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 389.20 224.73 Td (227,030) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 438.40 224.73 Td (14,935,795) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 483.00 224.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 224.73 Td (124,532) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 209.73 Td (Issued on public offering) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 349.60 209.78 Td () Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 409.60 209.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 438.40 209.73 Td (10,820,000) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 209.73 Td (75,199) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 195.73 Td (Issued on private placement) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 349.60 195.78 Td () Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 409.60 195.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 442.70 195.73 Td (4,729,729) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 195.73 Td (35,000) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 180.73 Td (Issued pursuant to DRIP) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 280.15 180.68 Td (14) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 333.55 180.78 Td (67,619) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 404.40 180.73 Td (465) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 449.20 180.73 Td (135,879) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 180.73 Td (965) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 165.73 Td (Cost of issuances) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 349.60 165.78 Td () Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 409.60 165.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 469.60 165.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 165.73 Td (\(4,279) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 165.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 150.73 Td (Repurchase of units) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 330.95 150.73 Td (\(50,813) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 357.40 150.73 Td (\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 401.80 150.73 Td (\(384) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 417.40 150.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 446.60 150.73 Td (\(579,973) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 477.40 150.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 150.73 Td (\(4,387) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 150.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 135.73 Td (Balance, end of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 318.40 135.73 Td (30,058,236) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 363.00 135.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 389.20 135.73 Td (227,111) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 438.40 135.73 Td (30,041,430) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 483.00 135.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 135.73 Td (227,030) Tj ET Q BT /F1 10.00 Tf ET BT /F4 9.50 Tf ET q 0 0 0 rg BT 72.00 114.30 Td (Normal ) Tj ET Q q 0 0 0 rg BT 99.27 114.30 Td (course ) Tj ET Q q 0 0 0 rg BT 124.82 114.30 Td (issuer ) Tj ET Q q 0 0 0 rg BT 147.77 114.30 Td (bid) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 96.90 Td (On ) Tj ET Q q 0 0 0 rg BT 84.96 96.90 Td (January ) Tj ET Q q 0 0 0 rg BT 115.25 96.90 Td (15, ) Tj ET Q q 0 0 0 rg BT 128.65 96.90 Td (2016, ) Tj ET Q q 0 0 0 rg BT 150.72 96.90 Td (the ) Tj ET Q q 0 0 0 rg BT 164.12 96.90 Td (REIT) Tj ET Q q 0 0 0 rg BT 181.73 96.90 Td ( ) Tj ET Q q 0 0 0 rg BT 184.30 96.90 Td (renewed ) Tj ET Q q 0 0 0 rg BT 216.74 96.90 Td (its ) Tj ET Q q 0 0 0 rg BT 227.11 96.90 Td (normal ) Tj ET Q q 0 0 0 rg BT 253.49 96.90 Td (course ) Tj ET Q q 0 0 0 rg BT 279.44 96.90 Td (issuer ) Tj ET Q q 0 0 0 rg BT 302.79 96.90 Td (bid ) Tj ET Q q 0 0 0 rg BT 315.76 96.90 Td (\("NCIB"\), ) Tj ET Q q 0 0 0 rg BT 349.81 96.90 Td (whereby ) Tj ET Q q 0 0 0 rg BT 381.82 96.90 Td (the ) Tj ET Q q 0 0 0 rg BT 395.23 96.90 Td (REIT) Tj ET Q q 0 0 0 rg BT 412.83 96.90 Td ( ) Tj ET Q q 0 0 0 rg BT 415.40 96.90 Td (may ) Tj ET Q q 0 0 0 rg BT 432.69 96.90 Td (purchase ) Tj ET Q q 0 0 0 rg BT 467.31 96.90 Td (up ) Tj ET Q q 0 0 0 rg BT 478.54 96.90 Td (to ) Tj ET Q q 0 0 0 rg BT 487.61 96.90 Td (2,334,509 ) Tj ET Q q 0 0 0 rg BT 524.84 96.90 Td (trust ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 85.50 Td (units, ) Tj ET Q q 0 0 0 rg BT 92.29 85.50 Td (subject ) Tj ET Q q 0 0 0 rg BT 118.65 85.50 Td (to ) Tj ET Q q 0 0 0 rg BT 126.82 85.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 151.87 85.50 Td (restrictions. ) Tj ET Q q 0 0 0 rg BT 193.27 85.50 Td (The ) Tj ET Q q 0 0 0 rg BT 208.37 85.50 Td (renewed ) Tj ET Q q 0 0 0 rg BT 239.91 85.50 Td (NCIB ) Tj ET Q q 0 0 0 rg BT 260.19 85.50 Td (expires ) Tj ET Q q 0 0 0 rg BT 286.97 85.50 Td (on ) Tj ET Q q 0 0 0 rg BT 297.31 85.50 Td (the ) Tj ET Q q 0 0 0 rg BT 309.81 85.50 Td (earlier ) Tj ET Q q 0 0 0 rg BT 333.12 85.50 Td (of ) Tj ET Q q 0 0 0 rg BT 341.29 85.50 Td (January ) Tj ET Q q 0 0 0 rg BT 370.68 85.50 Td (25, ) Tj ET Q q 0 0 0 rg BT 383.18 85.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 402.18 85.50 Td (and ) Tj ET Q q 0 0 0 rg BT 416.84 85.50 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 457.49 85.50 Td (of ) Tj ET Q q 0 0 0 rg BT 465.66 85.50 Td (the ) Tj ET Q q 0 0 0 rg BT 478.16 85.50 Td (maximum ) Tj ET Q q 0 0 0 rg BT 513.59 85.50 Td (number ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 74.10 Td (of ) Tj ET Q q 0 0 0 rg BT 80.67 74.10 Td (trust ) Tj ET Q q 0 0 0 rg BT 97.99 74.10 Td (units. ) Tj ET Q q 0 0 0 rg BT 118.78 74.10 Td ( ) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.25 42.95 Td (Page 15) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 686.10 Td (For ) Tj ET Q q 0 0 0 rg BT 86.17 686.10 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 99.49 686.10 Td (three ) Tj ET Q q 0 0 0 rg BT 119.73 686.10 Td (months ) Tj ET Q q 0 0 0 rg BT 147.77 686.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 171.92 686.10 Td (March ) Tj ET Q q 0 0 0 rg BT 196.05 686.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 209.37 686.10 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 226.70 686.10 Td (, ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 231.35 686.10 Td (50,813) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 255.18 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 257.67 686.10 Td (trust ) Tj ET Q q 0 0 0 rg BT 275.31 686.10 Td (units ) Tj ET Q q 0 0 0 rg BT 294.26 686.10 Td (were ) Tj ET Q q 0 0 0 rg BT 313.62 686.10 Td (purchased ) Tj ET Q q 0 0 0 rg BT 352.49 686.10 Td (and ) Tj ET Q q 0 0 0 rg BT 367.98 686.10 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 416.38 686.10 Td (canceled ) Tj ET Q q 0 0 0 rg BT 450.05 686.10 Td (under ) Tj ET Q q 0 0 0 rg BT 472.46 686.10 Td (the ) Tj ET Q q 0 0 0 rg BT 485.78 686.10 Td (NCIB ) Tj ET Q q 0 0 0 rg BT 506.87 686.10 Td (for ) Tj ET Q q 0 0 0 rg BT 518.45 686.10 Td (a ) Tj ET Q q 0 0 0 rg BT 525.27 686.10 Td (total ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 674.70 Td (cost, ) Tj ET Q q 0 0 0 rg BT 90.40 674.70 Td (including ) Tj ET Q q 0 0 0 rg BT 123.09 674.70 Td (transaction ) Tj ET Q q 0 0 0 rg BT 163.15 674.70 Td (costs, ) Tj ET Q q 0 0 0 rg BT 185.44 674.70 Td (of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 193.88 674.70 Td ($0.4 ) Tj ET Q q 0 0 0 rg BT 210.99 674.70 Td (million) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 233.06 674.70 Td ( ) Tj ET Q q 0 0 0 rg BT 235.01 674.70 Td (at ) Tj ET Q q 0 0 0 rg BT 243.45 674.70 Td (an ) Tj ET Q q 0 0 0 rg BT 254.05 674.70 Td (average ) Tj ET Q q 0 0 0 rg BT 284.15 674.70 Td (price ) Tj ET Q q 0 0 0 rg BT 302.97 674.70 Td (of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 311.41 674.70 Td ($7.04) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 330.91 674.70 Td ( ) Tj ET Q q 0 0 0 rg BT 332.85 674.70 Td (per ) Tj ET Q q 0 0 0 rg BT 346.05 674.70 Td (unit. ) Tj ET Q q 0 0 0 rg BT 362.72 674.70 Td (No ) Tj ET Q q 0 0 0 rg BT 374.62 674.70 Td (new ) Tj ET Q q 0 0 0 rg BT 390.85 674.70 Td (purchases ) Tj ET Q q 0 0 0 rg BT 428.73 674.70 Td (have ) Tj ET Q q 0 0 0 rg BT 447.57 674.70 Td (been ) Tj ET Q q 0 0 0 rg BT 466.84 674.70 Td (made ) Tj ET Q q 0 0 0 rg BT 488.27 674.70 Td (since ) Tj ET Q q 0 0 0 rg BT 508.40 674.70 Td (renewing ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 663.30 Td (the ) Tj ET Q q 0 0 0 rg BT 85.00 663.30 Td (NCIB.) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 72.00 645.90 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 104.47 645.90 Td (unit ) Tj ET Q q 0 0 0 rg BT 119.20 645.90 Td (plan) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 628.50 Td (Ef) Tj ET Q q 0 0 0 rg BT 79.23 628.50 Td (fective ) Tj ET Q q 0 0 0 rg BT 104.22 628.50 Td (May ) Tj ET Q q 0 0 0 rg BT 121.42 628.50 Td (26, ) Tj ET Q q 0 0 0 rg BT 134.72 628.50 Td (2015, ) Tj ET Q q 0 0 0 rg BT 156.69 628.50 Td (the ) Tj ET Q q 0 0 0 rg BT 170.00 628.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 187.61 628.50 Td ( ) Tj ET Q q 0 0 0 rg BT 190.08 628.50 Td (adopted ) Tj ET Q q 0 0 0 rg BT 220.72 628.50 Td (a ) Tj ET Q q 0 0 0 rg BT 227.52 628.50 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 260.30 628.50 Td (Unit ) Tj ET Q q 0 0 0 rg BT 276.63 628.50 Td (Plan ) Tj ET Q q 0 0 0 rg BT 294.69 628.50 Td (\(DUP\). ) Tj ET Q q 0 0 0 rg BT 325.99 628.50 Td (T) Tj ET Q q 0 0 0 rg BT 330.47 628.50 Td (rustees ) Tj ET Q q 0 0 0 rg BT 358.49 628.50 Td (who ) Tj ET Q q 0 0 0 rg BT 375.25 628.50 Td (are ) Tj ET Q q 0 0 0 rg BT 388.99 628.50 Td (not ) Tj ET Q q 0 0 0 rg BT 402.29 628.50 Td (employees ) Tj ET Q q 0 0 0 rg BT 442.44 628.50 Td (of ) Tj ET Q q 0 0 0 rg BT 451.42 628.50 Td (the ) Tj ET Q q 0 0 0 rg BT 464.72 628.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 482.33 628.50 Td ( ) Tj ET Q q 0 0 0 rg BT 484.80 628.50 Td (or ) Tj ET Q q 0 0 0 rg BT 494.20 628.50 Td (the ) Tj ET Q q 0 0 0 rg BT 507.51 628.50 Td (Manager) Tj ET Q q 0 0 0 rg BT 537.83 628.50 Td (, ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 617.10 Td (Slate ) Tj ET Q q 0 0 0 rg BT 91.47 617.10 Td (Asset ) Tj ET Q q 0 0 0 rg BT 113.09 617.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 160.70 617.10 Td (L.P) Tj ET Q q 0 0 0 rg BT 171.40 617.10 Td (., ) Tj ET Q q 0 0 0 rg BT 177.87 617.10 Td (or ) Tj ET Q q 0 0 0 rg BT 186.93 617.10 Td (any ) Tj ET Q q 0 0 0 rg BT 201.62 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 210.26 617.10 Td (their ) Tj ET Q q 0 0 0 rg BT 227.55 617.10 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 272.99 617.10 Td (are ) Tj ET Q q 0 0 0 rg BT 286.38 617.10 Td (eligible ) Tj ET Q q 0 0 0 rg BT 312.77 617.10 Td (to ) Tj ET Q q 0 0 0 rg BT 321.40 617.10 Td (participate ) Tj ET Q q 0 0 0 rg BT 359.48 617.10 Td (in ) Tj ET Q q 0 0 0 rg BT 367.68 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 380.64 617.10 Td (DUP) Tj ET Q q 0 0 0 rg BT 396.09 617.10 Td (. ) Tj ET Q q 0 0 0 rg BT 400.39 617.10 Td ( ) Tj ET Q q 0 0 0 rg BT 402.52 617.10 Td (Participants ) Tj ET Q q 0 0 0 rg BT 445.36 617.10 Td (may ) Tj ET Q q 0 0 0 rg BT 462.22 617.10 Td (elect ) Tj ET Q q 0 0 0 rg BT 480.81 617.10 Td (to ) Tj ET Q q 0 0 0 rg BT 489.44 617.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 516.69 617.10 Td (all ) Tj ET Q q 0 0 0 rg BT 526.62 617.10 Td (or ) Tj ET Q q 0 0 0 rg BT 535.68 617.10 Td (a ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 605.70 Td (portion ) Tj ET Q q 0 0 0 rg BT 98.58 605.70 Td (of ) Tj ET Q q 0 0 0 rg BT 107.83 605.70 Td (their ) Tj ET Q q 0 0 0 rg BT 125.75 605.70 Td (annual ) Tj ET Q q 0 0 0 rg BT 151.90 605.70 Td (retainer) Tj ET Q q 0 0 0 rg BT 177.88 605.70 Td (, ) Tj ET Q q 0 0 0 rg BT 182.81 605.70 Td (meeting ) Tj ET Q q 0 0 0 rg BT 213.28 605.70 Td (fees ) Tj ET Q q 0 0 0 rg BT 230.76 605.70 Td (and ) Tj ET Q q 0 0 0 rg BT 246.52 605.70 Td (additional ) Tj ET Q q 0 0 0 rg BT 282.63 605.70 Td (compensation ) Tj ET Q q 0 0 0 rg BT 333.89 605.70 Td (\(including ) Tj ET Q q 0 0 0 rg BT 369.99 605.70 Td (travel ) Tj ET Q q 0 0 0 rg BT 391.80 605.70 Td (fees\), ) Tj ET Q q 0 0 0 rg BT 414.05 605.70 Td (in ) Tj ET Q q 0 0 0 rg BT 422.87 605.70 Td (deferred ) Tj ET Q q 0 0 0 rg BT 454.64 605.70 Td (units. ) Tj ET Q q 0 0 0 rg BT 476.02 605.70 Td (One ) Tj ET Q q 0 0 0 rg BT 493.50 605.70 Td (deferred ) Tj ET Q q 0 0 0 rg BT 525.28 605.70 Td (unit, ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 594.30 Td (which ) Tj ET Q q 0 0 0 rg BT 94.84 594.30 Td (vests ) Tj ET Q q 0 0 0 rg BT 115.96 594.30 Td (immediately ) Tj ET Q q 0 0 0 rg BT 160.45 594.30 Td (on ) Tj ET Q q 0 0 0 rg BT 172.04 594.30 Td (the ) Tj ET Q q 0 0 0 rg BT 185.80 594.30 Td (grant ) Tj ET Q q 0 0 0 rg BT 206.48 594.30 Td (date, ) Tj ET Q q 0 0 0 rg BT 226.74 594.30 Td (is ) Tj ET Q q 0 0 0 rg BT 235.30 594.30 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 273.74 594.30 Td (to ) Tj ET Q q 0 0 0 rg BT 283.17 594.30 Td (one ) Tj ET Q q 0 0 0 rg BT 299.09 594.30 Td (trust ) Tj ET Q q 0 0 0 rg BT 317.18 594.30 Td (unit. ) Tj ET Q q 0 0 0 rg BT 334.25 594.30 Td (Additional ) Tj ET Q q 0 0 0 rg BT 371.40 594.30 Td (deferred ) Tj ET Q q 0 0 0 rg BT 403.34 594.30 Td (units ) Tj ET Q q 0 0 0 rg BT 422.73 594.30 Td (accumulate ) Tj ET Q q 0 0 0 rg BT 465.50 594.30 Td (at ) Tj ET Q q 0 0 0 rg BT 474.92 594.30 Td (the ) Tj ET Q q 0 0 0 rg BT 488.68 594.30 Td (same ) Tj ET Q q 0 0 0 rg BT 510.66 594.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 527.01 594.30 Td (that ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 582.90 Td (distributions ) Tj ET Q q 0 0 0 rg BT 115.74 582.90 Td (are ) Tj ET Q q 0 0 0 rg BT 129.16 582.90 Td (paid ) Tj ET Q q 0 0 0 rg BT 146.06 582.90 Td (on ) Tj ET Q q 0 0 0 rg BT 156.89 582.90 Td (the ) Tj ET Q q 0 0 0 rg BT 169.89 582.90 Td (trust ) Tj ET Q q 0 0 0 rg BT 187.21 582.90 Td (units.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 565.50 Td (The ) Tj ET Q q 0 0 0 rg BT 87.57 565.50 Td (deferred ) Tj ET Q q 0 0 0 rg BT 118.73 565.50 Td (units ) Tj ET Q q 0 0 0 rg BT 137.34 565.50 Td (may ) Tj ET Q q 0 0 0 rg BT 154.21 565.50 Td (be ) Tj ET Q q 0 0 0 rg BT 165.02 565.50 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 202.25 565.50 Td (by ) Tj ET Q q 0 0 0 rg BT 212.62 565.50 Td (a ) Tj ET Q q 0 0 0 rg BT 219.10 565.50 Td (participant ) Tj ET Q q 0 0 0 rg BT 257.20 565.50 Td (for ) Tj ET Q q 0 0 0 rg BT 268.44 565.50 Td (a ) Tj ET Q q 0 0 0 rg BT 274.92 565.50 Td (period ) Tj ET Q q 0 0 0 rg BT 298.72 565.50 Td (of ) Tj ET Q q 0 0 0 rg BT 307.36 565.50 Td (two ) Tj ET Q q 0 0 0 rg BT 321.63 565.50 Td (years ) Tj ET Q q 0 0 0 rg BT 342.83 565.50 Td (after ) Tj ET Q q 0 0 0 rg BT 360.57 565.50 Td (the ) Tj ET Q q 0 0 0 rg BT 373.55 565.50 Td (participant ) Tj ET Q q 0 0 0 rg BT 411.64 565.50 Td (ceases ) Tj ET Q q 0 0 0 rg BT 438.48 565.50 Td (to ) Tj ET Q q 0 0 0 rg BT 447.12 565.50 Td (be ) Tj ET Q q 0 0 0 rg BT 457.94 565.50 Td (a ) Tj ET Q q 0 0 0 rg BT 464.28 565.50 Td (T) Tj ET Q q 0 0 0 rg BT 468.76 565.50 Td (rustee ) Tj ET Q q 0 0 0 rg BT 492.56 565.50 Td (of ) Tj ET Q q 0 0 0 rg BT 501.21 565.50 Td (the ) Tj ET Q q 0 0 0 rg BT 514.18 565.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 531.79 565.50 Td ( ) Tj ET Q q 0 0 0 rg BT 533.94 565.50 Td (in ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 554.10 Td (whole ) Tj ET Q q 0 0 0 rg BT 94.78 554.10 Td (or ) Tj ET Q q 0 0 0 rg BT 104.14 554.10 Td (in ) Tj ET Q q 0 0 0 rg BT 112.64 554.10 Td (part ) Tj ET Q q 0 0 0 rg BT 128.49 554.10 Td (for ) Tj ET Q q 0 0 0 rg BT 140.02 554.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 158.91 554.10 Td (or ) Tj ET Q q 0 0 0 rg BT 168.26 554.10 Td (trust ) Tj ET Q q 0 0 0 rg BT 185.85 554.10 Td (units. ) Tj ET Q q 0 0 0 rg BT 206.76 554.10 Td (The ) Tj ET Q q 0 0 0 rg BT 222.61 554.10 Td (value ) Tj ET Q q 0 0 0 rg BT 243.67 554.10 Td (of ) Tj ET Q q 0 0 0 rg BT 252.60 554.10 Td (the ) Tj ET Q q 0 0 0 rg BT 265.87 554.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 297.31 554.10 Td (units ) Tj ET Q q 0 0 0 rg BT 316.20 554.10 Td (when ) Tj ET Q q 0 0 0 rg BT 337.26 554.10 Td (converted ) Tj ET Q q 0 0 0 rg BT 373.90 554.10 Td (to ) Tj ET Q q 0 0 0 rg BT 382.83 554.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 401.72 554.10 Td (will ) Tj ET Q q 0 0 0 rg BT 414.97 554.10 Td (be ) Tj ET Q q 0 0 0 rg BT 426.07 554.10 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 464.02 554.10 Td (to ) Tj ET Q q 0 0 0 rg BT 472.95 554.10 Td (the ) Tj ET Q q 0 0 0 rg BT 486.21 554.10 Td (market ) Tj ET Q q 0 0 0 rg BT 512.46 554.10 Td (value ) Tj ET Q q 0 0 0 rg BT 533.51 554.10 Td (of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 542.70 Td (trust ) Tj ET Q q 0 0 0 rg BT 89.32 542.70 Td (units ) Tj ET Q q 0 0 0 rg BT 107.95 542.70 Td (on ) Tj ET Q q 0 0 0 rg BT 118.78 542.70 Td (the ) Tj ET Q q 0 0 0 rg BT 131.78 542.70 Td (date ) Tj ET Q q 0 0 0 rg BT 149.11 542.70 Td (of ) Tj ET Q q 0 0 0 rg BT 157.77 542.70 Td (the ) Tj ET Q q 0 0 0 rg BT 170.77 542.70 Td (redemption ) Tj ET Q q 0 0 0 rg BT 211.91 542.70 Td (request. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 525.30 Td (As ) Tj ET Q q 0 0 0 rg BT 83.33 525.30 Td (at ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 92.07 525.30 Td (March31, ) Tj ET Q q 0 0 0 rg BT 128.96 525.30 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 146.29 525.30 Td (, ) Tj ET Q q 0 0 0 rg BT 150.69 525.30 Td (the ) Tj ET Q q 0 0 0 rg BT 163.77 525.30 Td (liability ) Tj ET Q q 0 0 0 rg BT 189.39 525.30 Td (associated ) Tj ET Q q 0 0 0 rg BT 228.88 525.30 Td (with ) Tj ET Q q 0 0 0 rg BT 244.97 525.30 Td (the ) Tj ET Q q 0 0 0 rg BT 258.04 525.30 Td (deferred ) Tj ET Q q 0 0 0 rg BT 289.30 525.30 Td (units ) Tj ET Q q 0 0 0 rg BT 308.00 525.30 Td (was ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 324.09 525.30 Td ($0.2 ) Tj ET Q q 0 0 0 rg BT 341.49 525.30 Td (million) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 363.57 525.30 Td (, ) Tj ET Q q 0 0 0 rg BT 367.98 525.30 Td (and ) Tj ET Q q 0 0 0 rg BT 383.21 525.30 Td (the ) Tj ET Q q 0 0 0 rg BT 396.29 525.30 Td (number ) Tj ET Q q 0 0 0 rg BT 424.94 525.30 Td (of ) Tj ET Q q 0 0 0 rg BT 433.68 525.30 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 476.21 525.30 Td (deferred ) Tj ET Q q 0 0 0 rg BT 507.47 525.30 Td (units ) Tj ET Q q 0 0 0 rg BT 526.16 525.30 Td (was ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 513.90 Td (25,802) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 95.83 513.90 Td ( ) Tj ET Q q 0 0 0 rg BT 98.00 513.90 Td (\() Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 100.59 513.90 Td (December31, ) Tj ET Q q 0 0 0 rg BT 151.69 513.90 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 169.02 513.90 Td ( ) Tj ET Q q 0 0 0 rg BT 171.18 513.90 Td (- ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 175.94 513.90 Td (17,440) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 199.77 513.90 Td ( ) Tj ET Q q 0 0 0 rg BT 201.94 513.90 Td (units\).) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 72.00 496.50 Td (W) Tj ET Q q 0 0 0 rg BT 79.18 496.50 Td (eighted ) Tj ET Q q 0 0 0 rg BT 106.91 496.50 Td (average ) Tj ET Q q 0 0 0 rg BT 137.23 496.50 Td (units ) Tj ET Q q 0 0 0 rg BT 155.85 496.50 Td (outstanding) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 479.10 Td (The ) Tj ET Q q 0 0 0 rg BT 87.44 479.10 Td (following ) Tj ET Q q 0 0 0 rg BT 119.77 479.10 Td (is ) Tj ET Q q 0 0 0 rg BT 127.42 479.10 Td (the ) Tj ET Q q 0 0 0 rg BT 140.27 479.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 173.47 479.10 Td (average ) Tj ET Q q 0 0 0 rg BT 203.64 479.10 Td (number ) Tj ET Q q 0 0 0 rg BT 232.08 479.10 Td (of ) Tj ET Q q 0 0 0 rg BT 240.60 479.10 Td (units ) Tj ET Q q 0 0 0 rg BT 259.07 479.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 301.38 479.10 Td (during ) Tj ET Q q 0 0 0 rg BT 325.05 479.10 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 337.90 479.10 Td (three ) Tj ET Q q 0 0 0 rg BT 357.68 479.10 Td (months ) Tj ET Q q 0 0 0 rg BT 385.25 479.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 408.93 479.10 Td (March ) Tj ET Q q 0 0 0 rg BT 432.60 479.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 445.45 479.10 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 462.78 479.10 Td ( ) Tj ET Q q 0 0 0 rg BT 464.80 479.10 Td (on ) Tj ET Q q 0 0 0 rg BT 475.48 479.10 Td (a ) Tj ET Q q 0 0 0 rg BT 481.83 479.10 Td (basic ) Tj ET Q q 0 0 0 rg BT 502.04 479.10 Td (and ) Tj ET Q q 0 0 0 rg BT 517.06 479.10 Td (diluted ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 467.70 Td (basis. ) Tj ET Q q 0 0 0 rg BT 94.75 467.70 Td (The ) Tj ET Q q 0 0 0 rg BT 110.73 467.70 Td (diluted ) Tj ET Q q 0 0 0 rg BT 136.25 467.70 Td (weighted ) Tj ET Q q 0 0 0 rg BT 169.98 467.70 Td (average ) Tj ET Q q 0 0 0 rg BT 200.69 467.70 Td (trust ) Tj ET Q q 0 0 0 rg BT 218.40 467.70 Td (units ) Tj ET Q q 0 0 0 rg BT 237.42 467.70 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 280.26 467.70 Td (is ) Tj ET Q q 0 0 0 rg BT 288.44 467.70 Td (determined ) Tj ET Q q 0 0 0 rg BT 329.97 467.70 Td (as ) Tj ET Q q 0 0 0 rg BT 340.76 467.70 Td (if ) Tj ET Q q 0 0 0 rg BT 347.21 467.70 Td (all ) Tj ET Q q 0 0 0 rg BT 357.56 467.70 Td (of ) Tj ET Q q 0 0 0 rg BT 366.61 467.70 Td (the ) Tj ET Q q 0 0 0 rg BT 380.00 467.70 Td (Class ) Tj ET Q q 0 0 0 rg BT 402.03 467.70 Td (B ) Tj ET Q q 0 0 0 rg BT 409.79 467.70 Td (LP) Tj ET Q q 0 0 0 rg BT 419.18 467.70 Td ( ) Tj ET Q q 0 0 0 rg BT 421.73 467.70 Td (units ) Tj ET Q q 0 0 0 rg BT 440.75 467.70 Td (and ) Tj ET Q q 0 0 0 rg BT 456.30 467.70 Td (DUP) Tj ET Q q 0 0 0 rg BT 472.61 467.70 Td ( ) Tj ET Q q 0 0 0 rg BT 475.16 467.70 Td (units ) Tj ET Q q 0 0 0 rg BT 494.18 467.70 Td (to ) Tj ET Q q 0 0 0 rg BT 503.23 467.70 Td (have ) Tj ET Q q 0 0 0 rg BT 522.68 467.70 Td (been ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 456.30 Td (converted ) Tj ET Q q 0 0 0 rg BT 108.38 456.30 Td (to ) Tj ET Q q 0 0 0 rg BT 117.05 456.30 Td (units ) Tj ET Q q 0 0 0 rg BT 135.67 456.30 Td (of ) Tj ET Q q 0 0 0 rg BT 144.34 456.30 Td (the ) Tj ET Q q 0 0 0 rg BT 157.34 456.30 Td (REIT) Tj ET Q q 0 0 0 rg BT 174.22 456.30 Td (: ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 439.8 m 392.5 439.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 439.8 m 409.5 439.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 439.8 m 474.5 439.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 439.8 m 539.5 439.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 424.8 m 392.5 424.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 424.8 m 409.5 424.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 409.5 424.8 m 474.5 424.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 424.8 m 539.5 424.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 379.8 m 392.5 379.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 392.5 379.8 m 409.5 379.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 409.5 379.8 m 474.5 379.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 379.8 m 539.5 379.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 364.8 m 392.5 364.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 364.8 m 409.5 364.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 364.8 m 474.5 364.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 364.8 m 539.5 364.8 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 415.55 429.33 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 481.85 429.33 Td (March 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 415.38 Td (Basic weighted average trust units outstanding) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 432.40 414.33 Td (30,031,846) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 497.40 414.33 Td (14,942,484) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 400.38 Td (Impact of Class B LP units) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 436.70 399.33 Td (5,285,160) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 501.70 399.33 Td (5,073,818) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 385.38 Td (DUP units) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 447.55 384.33 Td (17,436) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 528.60 384.33 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 369.33 Td (Diluted weighted average trust units outstanding) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 432.40 369.33 Td (35,334,442) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 497.40 369.33 Td (20,016,302) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 347.90 Td (14. ) Tj ET Q q 0 0 0 rg BT 85.00 347.90 Td ( ) Tj ET Q q 0 0 0 rg BT 87.16 347.90 Td ( ) Tj ET Q q 0 0 0 rg BT 89.33 347.90 Td ( ) Tj ET Q q 0 0 0 rg BT 91.50 347.90 Td (Distributions) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 330.50 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 104.82 330.50 Td (to ) Tj ET Q q 0 0 0 rg BT 112.96 330.50 Td (the ) Tj ET Q q 0 0 0 rg BT 125.43 330.50 Td (Declaration ) Tj ET Q q 0 0 0 rg BT 166.46 330.50 Td (of ) Tj ET Q q 0 0 0 rg BT 174.50 330.50 Td (T) Tj ET Q q 0 0 0 rg BT 178.98 330.50 Td (rust, ) Tj ET Q q 0 0 0 rg BT 195.77 330.50 Td (the ) Tj ET Q q 0 0 0 rg BT 208.24 330.50 Td (income ) Tj ET Q q 0 0 0 rg BT 234.99 330.50 Td (of ) Tj ET Q q 0 0 0 rg BT 243.13 330.50 Td (the ) Tj ET Q q 0 0 0 rg BT 255.60 330.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 273.21 330.50 Td ( ) Tj ET Q q 0 0 0 rg BT 274.84 330.50 Td (is ) Tj ET Q q 0 0 0 rg BT 282.11 330.50 Td (distributed ) Tj ET Q q 0 0 0 rg BT 319.69 330.50 Td (on ) Tj ET Q q 0 0 0 rg BT 329.99 330.50 Td (dates ) Tj ET Q q 0 0 0 rg BT 350.69 330.50 Td (and ) Tj ET Q q 0 0 0 rg BT 365.33 330.50 Td (in ) Tj ET Q q 0 0 0 rg BT 373.03 330.50 Td (amounts ) Tj ET Q q 0 0 0 rg BT 404.55 330.50 Td (as ) Tj ET Q q 0 0 0 rg BT 414.42 330.50 Td (determined ) Tj ET Q q 0 0 0 rg BT 455.03 330.50 Td (by ) Tj ET Q q 0 0 0 rg BT 464.90 330.50 Td (the ) Tj ET Q q 0 0 0 rg BT 477.36 330.50 Td (Board ) Tj ET Q q 0 0 0 rg BT 499.79 330.50 Td (of ) Tj ET Q q 0 0 0 rg BT 507.82 330.50 Td (T) Tj ET Q q 0 0 0 rg BT 512.30 330.50 Td (rustees. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 319.10 Td (During ) Tj ET Q q 0 0 0 rg BT 97.11 319.10 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 110.11 319.10 Td (three ) Tj ET Q q 0 0 0 rg BT 130.03 319.10 Td (months ) Tj ET Q q 0 0 0 rg BT 157.75 319.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 181.58 319.10 Td (March ) Tj ET Q q 0 0 0 rg BT 205.39 319.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 218.39 319.10 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 235.72 319.10 Td (, ) Tj ET Q q 0 0 0 rg BT 240.05 319.10 Td (the ) Tj ET Q q 0 0 0 rg BT 253.05 319.10 Td (REIT) Tj ET Q q 0 0 0 rg BT 270.66 319.10 Td ( ) Tj ET Q q 0 0 0 rg BT 272.82 319.10 Td (declared ) Tj ET Q q 0 0 0 rg BT 304.87 319.10 Td (distributions ) Tj ET Q q 0 0 0 rg BT 348.61 319.10 Td (each ) Tj ET Q q 0 0 0 rg BT 367.67 319.10 Td (month ) Tj ET Q q 0 0 0 rg BT 391.49 319.10 Td (of ) Tj ET Q q 0 0 0 rg BT 400.16 319.10 Td ($0.0625 ) Tj ET Q q 0 0 0 rg BT 430.49 319.10 Td (per ) Tj ET Q q 0 0 0 rg BT 443.91 319.10 Td (unit. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 301.70 Td (The following table summarizes the distributions during the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 276.84 301.70 Td (three months ended March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 402.45 301.70 Td ( and ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 419.78 301.70 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 437.11 301.70 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 291.20000000000005 m 300.5 291.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 291.20000000000005 m 360.5 291.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300.5 279.20000000000005 m 360.5 279.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 291.20000000000005 m 420.5 291.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 279.20000000000005 m 420.5 279.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 291.20000000000005 m 480.5 291.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 279.20000000000005 m 480.5 279.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 291.20000000000005 m 540.5 291.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 279.20000000000005 m 540.5 279.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 279.20000000000005 m 420.5 279.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 279.20000000000005 m 540.5 279.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 255.20000000000005 m 300.5 255.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300.5 255.20000000000005 m 360.5 255.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 255.20000000000005 m 420.5 255.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 255.20000000000005 m 480.5 255.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 255.20000000000005 m 540.5 255.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300.5 255.20000000000005 m 360.5 255.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 255.20000000000005 m 420.5 255.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 255.20000000000005 m 480.5 255.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 255.20000000000005 m 540.5 255.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 225.20000000000005 m 300.5 225.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300.5 225.20000000000005 m 360.5 225.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 225.20000000000005 m 420.5 225.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 225.20000000000005 m 480.5 225.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 225.20000000000005 m 540.5 225.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 180.20000000000005 m 300.5 180.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 163.20000000000005 m 300.5 163.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300.5 180.20000000000005 m 360.5 180.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 163.20000000000005 m 360.5 163.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360.5 180.20000000000005 m 420.5 180.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 163.20000000000005 m 420.5 163.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420.5 180.20000000000005 m 480.5 180.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 163.20000000000005 m 480.5 163.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480.5 180.20000000000005 m 540.5 180.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 163.20000000000005 m 540.5 163.20000000000005 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 332.25 281.78 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 452.90 281.78 Td (March 31, 2015) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 384.05 269.78 Td ( Class B) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 510.15 269.78 Td (Class B) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 317.15 257.78 Td (Trust units) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 386.40 257.78 Td (LP units) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 440.90 257.78 Td (Trust units) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 508.95 257.78 Td (LP units) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 244.73 Td (Cash distributions) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 303.00 244.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 337.90 244.73 Td (5,297) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 363.00 244.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 404.40 244.73 Td (991) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 423.00 244.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 457.90 244.73 Td (2,685) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 483.00 244.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 244.73 Td (951) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 229.73 Td (DRIP distributions) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 344.40 229.73 Td (335) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 409.60 229.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 464.40 229.73 Td (117) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 229.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 214.73 Td (Distributions declared during the period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 337.90 214.73 Td (5,632) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 404.40 214.73 Td (991) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 457.90 214.73 Td (2,802) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 214.73 Td (951) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 199.73 Td (Add: Distributions payable, beginning of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 337.90 199.73 Td (1,878) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 404.40 199.73 Td (330) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 464.40 199.73 Td (933) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 199.73 Td (317) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 184.73 Td (Less: Distributions payable, end of period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 335.30 184.78 Td (\(1,851) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 357.40 184.73 Td (\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 401.80 184.73 Td (\(330) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 417.40 184.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 461.80 184.73 Td (\(934) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 477.40 184.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 521.80 184.73 Td (\(317) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 184.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 167.73 Td (Distributions paid or settled during the period) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 303.00 167.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 337.90 167.73 Td (5,659) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 363.00 167.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 404.40 167.73 Td (991) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 423.00 167.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 457.90 167.73 Td (2,801) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 483.00 167.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 167.73 Td (951) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 146.30 Td (The ) Tj ET Q q 0 0 0 rg BT 87.72 146.30 Td (REIT) Tj ET Q q 0 0 0 rg BT 105.33 146.30 Td ( ) Tj ET Q q 0 0 0 rg BT 107.62 146.30 Td (has ) Tj ET Q q 0 0 0 rg BT 122.48 146.30 Td (a ) Tj ET Q q 0 0 0 rg BT 129.10 146.30 Td (distribution ) Tj ET Q q 0 0 0 rg BT 169.07 146.30 Td (reinvestment ) Tj ET Q q 0 0 0 rg BT 215.97 146.30 Td (program ) Tj ET Q q 0 0 0 rg BT 247.27 146.30 Td (\("DRIP"\) ) Tj ET Q q 0 0 0 rg BT 278.88 146.30 Td (where ) Tj ET Q q 0 0 0 rg BT 302.39 146.30 Td (unitholders, ) Tj ET Q q 0 0 0 rg BT 344.96 146.30 Td (including ) Tj ET Q q 0 0 0 rg BT 378.00 146.30 Td (holders ) Tj ET Q q 0 0 0 rg BT 405.85 146.30 Td (of ) Tj ET Q q 0 0 0 rg BT 414.64 146.30 Td (Class ) Tj ET Q q 0 0 0 rg BT 436.41 146.30 Td (B ) Tj ET Q q 0 0 0 rg BT 443.90 146.30 Td (LP) Tj ET Q q 0 0 0 rg BT 453.29 146.30 Td ( ) Tj ET Q q 0 0 0 rg BT 455.59 146.30 Td (units, ) Tj ET Q q 0 0 0 rg BT 476.51 146.30 Td (elect ) Tj ET Q q 0 0 0 rg BT 495.26 146.30 Td (to ) Tj ET Q q 0 0 0 rg BT 504.05 146.30 Td (participate ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 134.90 Td (in ) Tj ET Q q 0 0 0 rg BT 80.02 134.90 Td (the ) Tj ET Q q 0 0 0 rg BT 92.81 134.90 Td (DRIP) Tj ET Q q 0 0 0 rg BT 111.28 134.90 Td ( ) Tj ET Q q 0 0 0 rg BT 113.24 134.90 Td (will ) Tj ET Q q 0 0 0 rg BT 126.01 134.90 Td (have ) Tj ET Q q 0 0 0 rg BT 144.86 134.90 Td (their ) Tj ET Q q 0 0 0 rg BT 161.97 134.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 180.39 134.90 Td (distributions ) Tj ET Q q 0 0 0 rg BT 223.92 134.90 Td (used ) Tj ET Q q 0 0 0 rg BT 242.77 134.90 Td (to ) Tj ET Q q 0 0 0 rg BT 251.22 134.90 Td (purchase ) Tj ET Q q 0 0 0 rg BT 285.23 134.90 Td (trust ) Tj ET Q q 0 0 0 rg BT 302.34 134.90 Td (units ) Tj ET Q q 0 0 0 rg BT 320.76 134.90 Td (of ) Tj ET Q q 0 0 0 rg BT 329.21 134.90 Td (the ) Tj ET Q q 0 0 0 rg BT 342.00 134.90 Td (REIT) Tj ET Q q 0 0 0 rg BT 358.88 134.90 Td (. ) Tj ET Q q 0 0 0 rg BT 363.01 134.90 Td ( ) Tj ET Q q 0 0 0 rg BT 364.96 134.90 Td (During ) Tj ET Q q 0 0 0 rg BT 389.86 134.90 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 402.65 134.90 Td (three ) Tj ET Q q 0 0 0 rg BT 422.37 134.90 Td (months ) Tj ET Q q 0 0 0 rg BT 449.87 134.90 Td (ended ) Tj ET Q q 0 0 0 rg BT 473.49 134.90 Td (March ) Tj ET Q q 0 0 0 rg BT 497.09 134.90 Td (31, ) Tj ET Q q 0 0 0 rg BT 509.88 134.90 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 527.21 134.90 Td ( ) Tj ET Q q 0 0 0 rg BT 529.17 134.90 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 123.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 89.61 123.50 Td ( ) Tj ET Q q 0 0 0 rg BT 91.78 123.50 Td (issued ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 116.46 123.50 Td (71,274) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 140.29 123.50 Td ( ) Tj ET Q q 0 0 0 rg BT 142.46 123.50 Td (trust ) Tj ET Q q 0 0 0 rg BT 159.78 123.50 Td (units ) Tj ET Q q 0 0 0 rg BT 178.41 123.50 Td (\() Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 181.00 123.50 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 198.33 123.50 Td ( ) Tj ET Q q 0 0 0 rg BT 200.50 123.50 Td (- ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 205.25 123.50 Td (154,721) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 233.42 123.50 Td (\) ) Tj ET Q q 0 0 0 rg BT 238.18 123.50 Td (under ) Tj ET Q q 0 0 0 rg BT 260.27 123.50 Td (the ) Tj ET Q q 0 0 0 rg BT 273.26 123.50 Td (DRIP) Tj ET Q q 0 0 0 rg BT 290.87 123.50 Td (. ) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.25 42.95 Td (Page 16) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 686.10 Td (15. ) Tj ET Q q 0 0 0 rg BT 85.00 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 87.16 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.33 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 91.50 686.10 Td (Rental ) Tj ET Q q 0 0 0 rg BT 117.47 686.10 Td (revenue) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 668.70 Td (Rental revenue is comprised of the following: ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 658.2 m 362.5 658.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 658.2 m 380.5 658.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 658.2 m 455.5 658.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 658.2 m 465.5 658.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 658.2 m 540.5 658.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 634.2 m 362.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 634.2 m 380.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 634.2 m 455.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455.5 634.2 m 465.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465.5 634.2 m 540.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 634.2 m 362.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 634.2 m 380.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 634.2 m 455.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455.5 634.2 m 465.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465.5 634.2 m 540.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 574.2 m 362.5 574.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 574.2 m 380.5 574.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 574.2 m 455.5 574.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455.5 574.2 m 465.5 574.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465.5 574.2 m 540.5 574.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 559.2 m 362.5 559.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 559.2 m 380.5 559.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 559.2 m 455.5 559.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 559.2 m 465.5 559.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 559.2 m 540.5 559.2 l s BT /F2 9.50 Tf ET q 0 0 0 rg BT 428.25 648.78 Td (Three months ended Marc) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 519.62 648.78 Td (h 31,) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 434.65 636.78 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 519.65 636.78 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 623.73 Td (Property base rent) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 383.00 623.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 428.55 623.73 Td (15,084) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.00 623.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 623.73 Td (7,778) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 608.73 Td (Operating cost and tax recoveries) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 428.55 608.73 Td (10,535) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 608.73 Td (5,802) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 593.73 Td (Hotel) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 432.90 593.73 Td (1,457) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 593.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 578.73 Td (Straight-line rent adjustments and other changes) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 439.40 578.73 Td (493) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 578.73 Td (502) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 383.00 563.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 428.55 563.73 Td (27,569) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.00 563.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 563.73 Td (14,082) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 542.30 Td (The REIT) Tj ET Q q 0 0 0 rg BT 105.20 542.30 Td ( has contracted to receive the following future minimum lease payments under non-cancellable operating leases:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 531.8 m 369.5 531.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 517.8 m 369.5 517.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 531.8 m 379.5 531.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 517.8 m 379.5 517.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 531.8 m 454.5 531.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379.5 517.8 m 454.5 517.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 531.8 m 463.5 531.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 454.5 517.8 m 463.5 517.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 531.8 m 540.5 531.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 463.5 517.8 m 540.5 517.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 472.8 m 369.5 472.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 472.8 m 379.5 472.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379.5 472.8 m 454.5 472.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 454.5 472.8 m 463.5 472.8 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 463.5 472.8 m 540.5 472.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 457.8 m 369.5 457.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 457.8 m 379.5 457.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 457.8 m 454.5 457.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 457.8 m 463.5 457.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 457.8 m 540.5 457.8 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 395.55 522.33 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.55 522.33 Td (December 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 507.33 Td (Not later than one year) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 382.00 507.33 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 427.55 507.33 Td (47,410) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 466.00 507.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 507.33 Td (58,460) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 492.33 Td (Later than one year and not later than five years) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 423.20 492.33 Td (183,864) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 492.33 Td (175,043) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 477.33 Td (Later than five years) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 423.20 477.33 Td (174,352) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 477.33 Td (168,485) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 382.00 462.33 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 423.20 462.33 Td (405,626) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 466.00 462.33 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 462.33 Td (401,988) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 440.90 Td (16. ) Tj ET Q q 0 0 0 rg BT 85.00 440.90 Td ( ) Tj ET Q q 0 0 0 rg BT 87.16 440.90 Td ( ) Tj ET Q q 0 0 0 rg BT 89.33 440.90 Td ( ) Tj ET Q q 0 0 0 rg BT 91.50 440.90 Td (General ) Tj ET Q q 0 0 0 rg BT 122.68 440.90 Td (and ) Tj ET Q q 0 0 0 rg BT 138.70 440.90 Td (administrative) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 423.50 Td (General and administrative expenses is comprised of the following:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 413 m 406.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 413 m 416.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 413 m 473.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 413 m 483.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 413 m 540.5 413 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 389 m 406.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 406.5 389 m 416.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416.5 389 m 473.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 389 m 483.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 389 m 540.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416.5 389 m 473.5 389 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 329 m 406.5 329 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 406.5 329 m 416.5 329 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416.5 329 m 473.5 329 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 329 m 483.5 329 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 329 m 540.5 329 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 314 m 406.5 314 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 314 m 416.5 314 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 314 m 473.5 314 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 314 m 483.5 314 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 314 m 540.5 314 l s BT /F2 9.50 Tf ET q 0 0 0 rg BT 428.25 403.58 Td (Three months ended Marc) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 519.62 403.58 Td (h 31,) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 452.65 391.58 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 519.65 391.58 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 378.53 Td (Professional fees) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 419.00 378.53 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 457.40 378.53 Td (186) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 378.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 528.70 378.53 Td (96) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 363.53 Td (Asset management fees) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 457.40 363.53 Td (614) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 363.53 Td (356) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 348.53 Td (Trustee fees) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 457.40 348.53 Td (107) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 528.70 348.53 Td (59) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 333.53 Td (Other) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 457.40 333.53 Td (133) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 528.70 333.53 Td (82) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 419.00 318.53 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 450.90 318.53 Td (1,040) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 318.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 318.53 Td (593) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 297.10 Td (17. ) Tj ET Q q 0 0 0 rg BT 85.00 297.10 Td ( ) Tj ET Q q 0 0 0 rg BT 87.16 297.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.33 297.10 Td ( ) Tj ET Q q 0 0 0 rg BT 91.50 297.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 121.80 297.10 Td (and ) Tj ET Q q 0 0 0 rg BT 137.82 297.10 Td (finance ) Tj ET Q q 0 0 0 rg BT 167.26 297.10 Td (costs) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 279.70 Td (Interest and finance costs are comprised of the following:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 269.20000000000005 m 376.5 269.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 269.20000000000005 m 406.5 269.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 269.20000000000005 m 416.5 269.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 269.20000000000005 m 473.5 269.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 269.20000000000005 m 483.5 269.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 269.20000000000005 m 540.5 269.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 245.20000000000005 m 376.5 245.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 376.5 245.20000000000005 m 406.5 245.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 406.5 245.20000000000005 m 416.5 245.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416.5 245.20000000000005 m 473.5 245.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 245.20000000000005 m 483.5 245.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 245.20000000000005 m 540.5 245.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416.5 245.20000000000005 m 473.5 245.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 245.20000000000005 m 483.5 245.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 245.20000000000005 m 540.5 245.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 172.20000000000005 m 376.5 172.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 376.5 172.20000000000005 m 406.5 172.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 406.5 172.20000000000005 m 416.5 172.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416.5 172.20000000000005 m 473.5 172.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 172.20000000000005 m 483.5 172.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 172.20000000000005 m 540.5 172.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 172.20000000000005 m 376.5 172.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 157.20000000000005 m 376.5 157.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 376.5 172.20000000000005 m 406.5 172.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 157.20000000000005 m 406.5 157.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 406.5 172.20000000000005 m 416.5 172.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 157.20000000000005 m 416.5 157.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 157.20000000000005 m 473.5 157.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 157.20000000000005 m 483.5 157.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 157.20000000000005 m 540.5 157.20000000000005 l s BT /F2 9.50 Tf ET q 0 0 0 rg BT 428.25 259.78 Td (Three months ended Marc) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 519.62 259.78 Td (h 31,) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 382.30 247.78 Td (Note) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 452.65 247.78 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 519.65 247.78 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 235.78 Td (Mortgage interest) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 388.80 235.78 Td (8) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 419.00 235.78 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 450.90 235.78 Td (2,125) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 235.78 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 235.78 Td (2,621) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 221.73 Td (Interest on other debt) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 388.80 221.68 Td (8) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 450.90 221.73 Td (1,822) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 528.70 221.73 Td (53) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 206.73 Td (Interest on vendor take-back loan) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 388.80 206.68 Td (8) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 462.60 206.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 528.70 206.73 Td (69) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 191.73 Td (Amortization of deferred transaction costs) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 388.80 191.68 Td (8) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 457.40 191.73 Td (231) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 528.70 191.73 Td (72) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 176.73 Td (Amortization of debt mark-to-market adjustment) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 388.80 176.68 Td (8) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 461.70 176.73 Td (25) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 526.10 176.73 Td (\(55) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 176.73 Td (\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 419.00 161.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 450.90 161.73 Td (4,203) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 161.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 161.73 Td (2,760) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.25 42.95 Td (Page 17) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 686.10 Td (18. ) Tj ET Q q 0 0 0 rg BT 85.00 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 87.16 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.33 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 91.50 686.10 Td (Change ) Tj ET Q q 0 0 0 rg BT 122.23 686.10 Td (in ) Tj ET Q q 0 0 0 rg BT 131.32 686.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 145.61 686.10 Td (value ) Tj ET Q q 0 0 0 rg BT 167.70 686.10 Td (of ) Tj ET Q q 0 0 0 rg BT 177.22 686.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 210.99 686.10 Td (instruments) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 668.70 Td (The change in fair value of financial instruments is comprised of the following:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 658.2 m 382.5 658.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 658.2 m 406.5 658.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 658.2 m 416.5 658.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 658.2 m 473.5 658.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 658.2 m 483.5 658.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 658.2 m 540.5 658.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 634.2 m 382.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382.5 634.2 m 406.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 406.5 634.2 m 416.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416.5 634.2 m 473.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 634.2 m 483.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 634.2 m 540.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416.5 634.2 m 473.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 634.2 m 483.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 634.2 m 540.5 634.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416.5 604.2 m 473.5 604.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 604.2 m 382.5 604.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 589.2 m 382.5 589.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382.5 604.2 m 406.5 604.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 589.2 m 406.5 589.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 406.5 604.2 m 416.5 604.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 589.2 m 416.5 589.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416.5 604.2 m 473.5 604.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 589.2 m 473.5 589.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 604.2 m 483.5 604.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 589.2 m 483.5 589.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 604.2 m 540.5 604.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 589.2 m 540.5 589.2 l s BT /F2 9.50 Tf ET q 0 0 0 rg BT 428.25 648.78 Td (Three months ended Marc) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 519.62 648.78 Td (h 31,) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 385.30 636.78 Td (Note) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 452.65 636.78 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 519.65 636.78 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 623.73 Td (Interest rate swaps) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 389.65 623.68 Td (10) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 419.00 623.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 454.80 623.73 Td (\(811) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 470.40 623.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 623.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 623.73 Td (\(1,565) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 623.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 608.73 Td (Warrants) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 462.60 608.73 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 526.10 608.73 Td (\(32) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 608.73 Td (\)) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 419.00 593.73 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 454.80 593.73 Td (\(811) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 470.40 593.73 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 593.73 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 515.30 593.73 Td (\(1,597) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 537.40 593.73 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 572.30 Td (19. ) Tj ET Q q 0 0 0 rg BT 85.00 572.30 Td ( ) Tj ET Q q 0 0 0 rg BT 87.16 572.30 Td ( ) Tj ET Q q 0 0 0 rg BT 89.33 572.30 Td ( ) Tj ET Q q 0 0 0 rg BT 91.50 572.30 Td ( ) Tj ET Q q 0 0 0 rg BT 93.66 572.30 Td (Related ) Tj ET Q q 0 0 0 rg BT 123.97 572.30 Td (party ) Tj ET Q q 0 0 0 rg BT 145.18 572.30 Td (transactions) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 554.90 Td (The ) Tj ET Q q 0 0 0 rg BT 87.87 554.90 Td (REIT) Tj ET Q q 0 0 0 rg BT 105.48 554.90 Td ( ) Tj ET Q q 0 0 0 rg BT 107.93 554.90 Td (has ) Tj ET Q q 0 0 0 rg BT 122.94 554.90 Td (a ) Tj ET Q q 0 0 0 rg BT 129.72 554.90 Td (management ) Tj ET Q q 0 0 0 rg BT 177.64 554.90 Td (agreement ) Tj ET Q q 0 0 0 rg BT 217.34 554.90 Td (\(the ) Tj ET Q q 0 0 0 rg BT 233.21 554.90 Td (Management ) Tj ET Q q 0 0 0 rg BT 283.25 554.90 Td (Agreement\) ) Tj ET Q q 0 0 0 rg BT 328.99 554.90 Td (with ) Tj ET Q q 0 0 0 rg BT 345.29 554.90 Td (Slate ) Tj ET Q q 0 0 0 rg BT 365.49 554.90 Td (Management ) Tj ET Q q 0 0 0 rg BT 413.42 554.90 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 456.57 554.90 Td (\("SMC"\), ) Tj ET Q q 0 0 0 rg BT 489.20 554.90 Td (a ) Tj ET Q q 0 0 0 rg BT 495.99 554.90 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 533.51 554.90 Td (of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 543.50 Td (Slate ) Tj ET Q q 0 0 0 rg BT 90.91 543.50 Td (Asset ) Tj ET Q q 0 0 0 rg BT 111.84 543.50 Td (Management ) Tj ET Q q 0 0 0 rg BT 158.76 543.50 Td (L.P) Tj ET Q q 0 0 0 rg BT 169.45 543.50 Td (. ) Tj ET Q q 0 0 0 rg BT 173.06 543.50 Td (\("SLAM"\), ) Tj ET Q q 0 0 0 rg BT 208.60 543.50 Td (whereby ) Tj ET Q q 0 0 0 rg BT 239.48 543.50 Td (SMC ) Tj ET Q q 0 0 0 rg BT 258.23 543.50 Td (as ) Tj ET Q q 0 0 0 rg BT 267.90 543.50 Td (the ) Tj ET Q q 0 0 0 rg BT 280.17 543.50 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 304.75 543.50 Td (manager ) Tj ET Q q 0 0 0 rg BT 336.93 543.50 Td (provides ) Tj ET Q q 0 0 0 rg BT 367.82 543.50 Td (the ) Tj ET Q q 0 0 0 rg BT 380.09 543.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 397.70 543.50 Td ( ) Tj ET Q q 0 0 0 rg BT 399.14 543.50 Td (with ) Tj ET Q q 0 0 0 rg BT 414.43 543.50 Td (the ) Tj ET Q q 0 0 0 rg BT 426.71 543.50 Td (strategic, ) Tj ET Q q 0 0 0 rg BT 459.76 543.50 Td (administrative, ) Tj ET Q q 0 0 0 rg BT 511.43 543.50 Td (property ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 532.10 Td (management, ) Tj ET Q q 0 0 0 rg BT 122.19 532.10 Td (leasing, ) Tj ET Q q 0 0 0 rg BT 151.60 532.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 190.97 532.10 Td (and ) Tj ET Q q 0 0 0 rg BT 206.52 532.10 Td (disposition, ) Tj ET Q q 0 0 0 rg BT 248.06 532.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 281.80 532.10 Td (and ) Tj ET Q q 0 0 0 rg BT 297.35 532.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 341.92 532.10 Td (management ) Tj ET Q q 0 0 0 rg BT 389.94 532.10 Td (services ) Tj ET Q q 0 0 0 rg BT 421.07 532.10 Td (necessary ) Tj ET Q q 0 0 0 rg BT 459.14 532.10 Td (to ) Tj ET Q q 0 0 0 rg BT 468.19 532.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 498.90 532.10 Td (the ) Tj ET Q q 0 0 0 rg BT 512.28 532.10 Td (strategy ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 520.70 Td (and ) Tj ET Q q 0 0 0 rg BT 87.36 520.70 Td (day-to-day ) Tj ET Q q 0 0 0 rg BT 126.53 520.70 Td (operations ) Tj ET Q q 0 0 0 rg BT 165.28 520.70 Td (of ) Tj ET Q q 0 0 0 rg BT 174.14 520.70 Td (the ) Tj ET Q q 0 0 0 rg BT 187.34 520.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 204.95 520.70 Td ( ) Tj ET Q q 0 0 0 rg BT 207.31 520.70 Td (and ) Tj ET Q q 0 0 0 rg BT 222.67 520.70 Td (its ) Tj ET Q q 0 0 0 rg BT 232.83 520.70 Td (assets. ) Tj ET Q q 0 0 0 rg BT 259.88 520.70 Td (SLAM ) Tj ET Q q 0 0 0 rg BT 283.46 520.70 Td (is ) Tj ET Q q 0 0 0 rg BT 291.45 520.70 Td (also ) Tj ET Q q 0 0 0 rg BT 308.11 520.70 Td (the ) Tj ET Q q 0 0 0 rg BT 321.30 520.70 Td (manager ) Tj ET Q q 0 0 0 rg BT 354.41 520.70 Td (of ) Tj ET Q q 0 0 0 rg BT 363.28 520.70 Td (the ) Tj ET Q q 0 0 0 rg BT 376.47 520.70 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 401.97 520.70 Td (three ) Tj ET Q q 0 0 0 rg BT 422.09 520.70 Td (co-owned ) Tj ET Q q 0 0 0 rg BT 458.23 520.70 Td (properties ) Tj ET Q q 0 0 0 rg BT 495.24 520.70 Td (in ) Tj ET Q q 0 0 0 rg BT 503.67 520.70 Td (St. ) Tj ET Q q 0 0 0 rg BT 515.56 520.70 Td (John's, ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 509.30 Td (Newfoundland. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 491.90 Td (SMC and SLAM held the following interests in the REIT) Tj ET Q q 0 0 0 rg BT 262.11 491.90 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 481.4 m 380.5 481.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 481.4 m 390.5 481.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 481.4 m 460.5 481.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 481.4 m 470.5 481.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 481.4 m 540.5 481.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 457.4 m 380.5 457.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 457.4 m 390.5 457.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 457.4 m 460.5 457.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 460.5 457.4 m 470.5 457.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 457.4 m 540.5 457.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 457.4 m 540.5 457.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 427.4 m 380.5 427.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 427.4 m 390.5 427.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 427.4 m 460.5 427.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 460.5 427.4 m 470.5 427.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470.5 427.4 m 540.5 427.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 397.4 m 380.5 397.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 397.4 m 390.5 397.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 397.4 m 460.5 397.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 397.4 m 470.5 397.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 397.4 m 540.5 397.4 l s BT /F2 9.50 Tf ET q 0 0 0 rg BT 428.25 471.98 Td (Three months ended March 31,) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 439.65 459.98 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 519.65 459.98 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 446.93 Td (REIT units) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 418.35 446.93 Td (1,687,251) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 498.35 446.93 Td (1,687,251) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 431.93 Td (Class B LP units) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 418.35 431.93 Td (5,285,160) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 498.35 431.93 Td (5,073,818) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 416.93 Td (Total) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 418.35 416.93 Td (6,972,411) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 498.35 416.93 Td (6,761,069) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 401.93 Td (Economic interest) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 437.85 401.93 Td (19.7) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 453.05 401.93 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.85 401.93 Td (33.8) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 533.05 401.93 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 380.50 Td (The Management ) Tj ET Q q 0 0 0 rg BT 134.80 380.50 Td (Agreement provides for the following fees:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 367 m 164.5 367 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 352 m 164.5 352 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 164.5 367 m 173.5 367 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 164.5 352 m 173.5 352 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 173.5 367 m 329.5 367 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 173.5 352 m 329.5 352 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 367 m 337.5 367 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 329.5 352 m 337.5 352 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 367 m 539.5 367 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 337.5 352 m 539.5 352 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 262 m 164.5 262 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 164.5 262 m 173.5 262 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 173.5 262 m 329.5 262 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 262 m 337.5 262 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 262 m 539.5 262 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 74.00 356.53 Td (Type) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 515.20 356.53 Td (Basis) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 341.53 Td (Property management) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 481.85 341.53 Td (3% of revenues) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 326.53 Td (Asset management) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 448.50 326.53 Td (0.3% of gross book value) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 311.53 Td (Leasing) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 404.65 311.53 Td (5% on new leases, 2% on renewals ) Tj ET Q BT /F2 9.50 Tf ET BT /F2 6.17 Tf ET q 0 0 0 rg BT 529.81 313.96 Td (\(1\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 296.53 Td (Financing) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 462.75 296.53 Td (0.25% of debt placed) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 281.53 Td (Construction) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 489.20 281.53 Td (5.0% of costs) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 266.53 Td (Acquisition) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 499.60 266.53 Td (V) Tj ET Q q 0 0 0 rg BT 504.23 266.53 Td (ariable ) Tj ET Q BT /F2 9.50 Tf ET BT /F2 6.17 Tf ET q 0 0 0 rg BT 529.78 268.96 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 7.50 Tf ET q 0 0 0 rg BT 72.00 250.50 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 81.41 250.50 Td (Leasing ) Tj ET Q q 0 0 0 rg BT 104.85 250.50 Td (fees ) Tj ET Q q 0 0 0 rg BT 118.38 250.50 Td (are ) Tj ET Q q 0 0 0 rg BT 129.16 250.50 Td (charged ) Tj ET Q q 0 0 0 rg BT 153.28 250.50 Td (to ) Tj ET Q q 0 0 0 rg BT 160.31 250.50 Td (the ) Tj ET Q q 0 0 0 rg BT 170.75 250.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 184.66 250.50 Td ( ) Tj ET Q q 0 0 0 rg BT 186.55 250.50 Td (net ) Tj ET Q q 0 0 0 rg BT 197.00 250.50 Td (of ) Tj ET Q q 0 0 0 rg BT 204.03 250.50 Td (any ) Tj ET Q q 0 0 0 rg BT 215.84 250.50 Td (third ) Tj ET Q q 0 0 0 rg BT 229.70 250.50 Td (party ) Tj ET Q q 0 0 0 rg BT 245.27 250.50 Td (brokerage ) Tj ET Q q 0 0 0 rg BT 274.86 250.50 Td (fees ) Tj ET Q q 0 0 0 rg BT 288.38 250.50 Td (paid ) Tj ET Q q 0 0 0 rg BT 301.91 250.50 Td (to ) Tj ET Q q 0 0 0 rg BT 308.93 250.50 Td (leasing ) Tj ET Q q 0 0 0 rg BT 330.32 250.50 Td (agents ) Tj ET Q q 0 0 0 rg BT 350.69 250.50 Td (retained ) Tj ET Q q 0 0 0 rg BT 374.81 250.50 Td (by ) Tj ET Q q 0 0 0 rg BT 383.20 250.50 Td (the ) Tj ET Q q 0 0 0 rg BT 393.65 250.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 406.97 250.50 Td (. ) Tj ET Q q 0 0 0 rg BT 410.58 250.50 Td (No ) Tj ET Q q 0 0 0 rg BT 420.33 250.50 Td (fee ) Tj ET Q q 0 0 0 rg BT 430.78 250.50 Td (is ) Tj ET Q q 0 0 0 rg BT 437.12 250.50 Td (charged ) Tj ET Q q 0 0 0 rg BT 461.24 250.50 Td (to ) Tj ET Q q 0 0 0 rg BT 468.27 250.50 Td (the ) Tj ET Q q 0 0 0 rg BT 478.72 250.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 492.62 250.50 Td ( ) Tj ET Q q 0 0 0 rg BT 494.51 250.50 Td (where ) Tj ET Q q 0 0 0 rg BT 513.16 250.50 Td (such ) Tj ET Q q 0 0 0 rg BT 528.05 250.50 Td (third ) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 72.00 241.50 Td (party ) Tj ET Q q 0 0 0 rg BT 87.39 241.50 Td (fees ) Tj ET Q q 0 0 0 rg BT 100.72 241.50 Td (are ) Tj ET Q q 0 0 0 rg BT 111.32 241.50 Td (equal ) Tj ET Q q 0 0 0 rg BT 128.08 241.50 Td (to ) Tj ET Q q 0 0 0 rg BT 134.92 241.50 Td (or ) Tj ET Q q 0 0 0 rg BT 142.10 241.50 Td (greater ) Tj ET Q q 0 0 0 rg BT 163.30 241.50 Td (than ) Tj ET Q q 0 0 0 rg BT 176.98 241.50 Td (the ) Tj ET Q q 0 0 0 rg BT 187.24 241.50 Td (lease ) Tj ET Q q 0 0 0 rg BT 203.65 241.50 Td (fee ) Tj ET Q q 0 0 0 rg BT 213.92 241.50 Td (payable ) Tj ET Q q 0 0 0 rg BT 237.17 241.50 Td (to ) Tj ET Q q 0 0 0 rg BT 244.01 241.50 Td (SLAM.) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 72.00 229.50 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 80.89 229.50 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 112.34 229.50 Td (fees ) Tj ET Q q 0 0 0 rg BT 125.68 229.50 Td (are ) Tj ET Q q 0 0 0 rg BT 136.28 229.50 Td (1.0% ) Tj ET Q q 0 0 0 rg BT 152.01 229.50 Td (on ) Tj ET Q q 0 0 0 rg BT 160.56 229.50 Td (the ) Tj ET Q q 0 0 0 rg BT 170.82 229.50 Td (first ) Tj ET Q q 0 0 0 rg BT 182.44 229.50 Td ($100 ) Tj ET Q q 0 0 0 rg BT 197.84 229.50 Td (million ) Tj ET Q q 0 0 0 rg BT 216.98 229.50 Td (of ) Tj ET Q q 0 0 0 rg BT 223.82 229.50 Td (acquisitions; ) Tj ET Q q 0 0 0 rg BT 259.38 229.50 Td (0.75% ) Tj ET Q q 0 0 0 rg BT 278.53 229.50 Td (on ) Tj ET Q q 0 0 0 rg BT 287.08 229.50 Td (the ) Tj ET Q q 0 0 0 rg BT 297.34 229.50 Td (next ) Tj ET Q q 0 0 0 rg BT 310.68 229.50 Td ($100MM ) Tj ET Q q 0 0 0 rg BT 336.32 229.50 Td (of ) Tj ET Q q 0 0 0 rg BT 343.16 229.50 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 377.01 229.50 Td (and ) Tj ET Q q 0 0 0 rg BT 388.98 229.50 Td (0.50% ) Tj ET Q q 0 0 0 rg BT 408.13 229.50 Td (for ) Tj ET Q q 0 0 0 rg BT 417.02 229.50 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 450.87 229.50 Td (in ) Tj ET Q q 0 0 0 rg BT 457.37 229.50 Td (excess ) Tj ET Q q 0 0 0 rg BT 478.22 229.50 Td (of ) Tj ET Q q 0 0 0 rg BT 485.06 229.50 Td ($200 ) Tj ET Q q 0 0 0 rg BT 500.46 229.50 Td (million. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 215.10 Td (Property ) Tj ET Q q 0 0 0 rg BT 103.81 215.10 Td (and ) Tj ET Q q 0 0 0 rg BT 119.18 215.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 140.17 215.10 Td (management ) Tj ET Q q 0 0 0 rg BT 188.01 215.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 205.10 215.10 Td (are ) Tj ET Q q 0 0 0 rg BT 218.73 215.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 251.84 215.10 Td (as ) Tj ET Q q 0 0 0 rg BT 262.44 215.10 Td (property ) Tj ET Q q 0 0 0 rg BT 293.39 215.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 328.24 215.10 Td (and ) Tj ET Q q 0 0 0 rg BT 343.61 215.10 Td (general ) Tj ET Q q 0 0 0 rg BT 371.96 215.10 Td (and ) Tj ET Q q 0 0 0 rg BT 387.33 215.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 437.76 215.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 475.64 215.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 516.21 215.10 Td (, ) Tj ET Q q 0 0 0 rg BT 520.74 215.10 Td (in ) Tj ET Q q 0 0 0 rg BT 529.17 215.10 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 203.70 Td (period ) Tj ET Q q 0 0 0 rg BT 96.44 203.70 Td (incurred. ) Tj ET Q q 0 0 0 rg BT 129.54 203.70 Td ( ) Tj ET Q q 0 0 0 rg BT 131.78 203.70 Td (Acquisition, ) Tj ET Q q 0 0 0 rg BT 174.42 203.70 Td (construction ) Tj ET Q q 0 0 0 rg BT 219.21 203.70 Td (and ) Tj ET Q q 0 0 0 rg BT 235.00 203.70 Td (leasing ) Tj ET Q q 0 0 0 rg BT 262.48 203.70 Td (fees ) Tj ET Q q 0 0 0 rg BT 280.00 203.70 Td (are ) Tj ET Q q 0 0 0 rg BT 294.04 203.70 Td (recorded ) Tj ET Q q 0 0 0 rg BT 327.58 203.70 Td (as ) Tj ET Q q 0 0 0 rg BT 338.60 203.70 Td (additions ) Tj ET Q q 0 0 0 rg BT 372.57 203.70 Td (to ) Tj ET Q q 0 0 0 rg BT 381.86 203.70 Td (investment ) Tj ET Q q 0 0 0 rg BT 422.33 203.70 Td (properties ) Tj ET Q q 0 0 0 rg BT 459.76 203.70 Td (when ) Tj ET Q q 0 0 0 rg BT 481.17 203.70 Td (payable ) Tj ET Q q 0 0 0 rg BT 511.25 203.70 Td (to ) Tj ET Q q 0 0 0 rg BT 520.54 203.70 Td (SMC. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 192.30 Td (Financing ) Tj ET Q q 0 0 0 rg BT 108.48 192.30 Td (fees ) Tj ET Q q 0 0 0 rg BT 125.92 192.30 Td (are ) Tj ET Q q 0 0 0 rg BT 139.88 192.30 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 179.40 192.30 Td (to ) Tj ET Q q 0 0 0 rg BT 188.60 192.30 Td (debt ) Tj ET Q q 0 0 0 rg BT 206.47 192.30 Td (placed ) Tj ET Q q 0 0 0 rg BT 232.13 192.30 Td (at ) Tj ET Q q 0 0 0 rg BT 241.33 192.30 Td (the ) Tj ET Q q 0 0 0 rg BT 254.87 192.30 Td (time ) Tj ET Q q 0 0 0 rg BT 272.29 192.30 Td (of ) Tj ET Q q 0 0 0 rg BT 281.49 192.30 Td (closing ) Tj ET Q q 0 0 0 rg BT 308.45 192.30 Td (and ) Tj ET Q q 0 0 0 rg BT 324.15 192.30 Td (amortized ) Tj ET Q q 0 0 0 rg BT 361.06 192.30 Td (to ) Tj ET Q q 0 0 0 rg BT 370.26 192.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 398.52 192.30 Td (expense ) Tj ET Q q 0 0 0 rg BT 430.68 192.30 Td (over ) Tj ET Q q 0 0 0 rg BT 448.54 192.30 Td (the ) Tj ET Q q 0 0 0 rg BT 462.07 192.30 Td (term ) Tj ET Q q 0 0 0 rg BT 480.36 192.30 Td (to ) Tj ET Q q 0 0 0 rg BT 489.56 192.30 Td (maturity ) Tj ET Q q 0 0 0 rg BT 519.97 192.30 Td (of ) Tj ET Q q 0 0 0 rg BT 529.18 192.30 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 180.90 Td (related ) Tj ET Q q 0 0 0 rg BT 97.99 180.90 Td (debt. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 166.50 Td (Fees payable to SMC and SLAM for services provided were as follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 156 m 406.5 156 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 156 m 416.5 156 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 156 m 473.5 156 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 156 m 483.5 156 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 156 m 540.5 156 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 132 m 406.5 132 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 406.5 132 m 416.5 132 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416.5 132 m 473.5 132 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 132 m 483.5 132 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 132 m 540.5 132 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 72 m 406.5 72 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 57 m 406.5 57 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 406.5 72 m 416.5 72 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 57 m 416.5 57 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416.5 72 m 473.5 72 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 57 m 473.5 57 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473.5 72 m 483.5 72 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 57 m 483.5 57 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 72 m 540.5 72 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 57 m 540.5 57 l s BT /F2 9.50 Tf ET q 0 0 0 rg BT 428.25 146.58 Td (Three months ended Marc) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 519.62 146.58 Td (h 31,) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 452.65 134.58 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 519.65 134.58 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 121.53 Td (Property management) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 419.00 121.53 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 457.40 121.53 Td (803) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 121.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 121.53 Td (388) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 106.53 Td (Asset management) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 457.40 106.53 Td (614) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 106.53 Td (356) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 91.53 Td (Leasing, financing, and construction management) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 457.40 91.53 Td (557) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 524.40 91.53 Td (727) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 76.53 Td (Acquisition) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 462.60 76.53 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 528.70 76.53 Td (93) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 419.00 61.53 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 450.90 61.53 Td (1,974) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 61.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 61.53 Td (1,564) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.25 42.95 Td (Page 18) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 686.10 Td (Property ) Tj ET Q q 0 0 0 rg BT 104.53 686.10 Td (administration ) Tj ET Q q 0 0 0 rg BT 156.11 686.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 173.92 686.10 Td (are ) Tj ET Q q 0 0 0 rg BT 188.27 686.10 Td (allowable ) Tj ET Q q 0 0 0 rg BT 223.83 686.10 Td (under ) Tj ET Q q 0 0 0 rg BT 246.84 686.10 Td (the ) Tj ET Q q 0 0 0 rg BT 260.75 686.10 Td (tenants) Tj ET Q q 0 0 0 rg BT 287.76 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 290.85 686.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 316.45 686.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 345.09 686.10 Td (to ) Tj ET Q q 0 0 0 rg BT 354.67 686.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 380.28 686.10 Td (or ) Tj ET Q q 0 0 0 rg BT 390.29 686.10 Td (resources ) Tj ET Q q 0 0 0 rg BT 427.58 686.10 Td (of ) Tj ET Q q 0 0 0 rg BT 437.16 686.10 Td (the ) Tj ET Q q 0 0 0 rg BT 451.08 686.10 Td (Manager ) Tj ET Q q 0 0 0 rg BT 484.91 686.10 Td (that ) Tj ET Q q 0 0 0 rg BT 500.99 686.10 Td (are ) Tj ET Q q 0 0 0 rg BT 515.34 686.10 Td (directly ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 674.70 Td (attributable ) Tj ET Q q 0 0 0 rg BT 112.44 674.70 Td (to ) Tj ET Q q 0 0 0 rg BT 120.83 674.70 Td (the ) Tj ET Q q 0 0 0 rg BT 133.56 674.70 Td (management ) Tj ET Q q 0 0 0 rg BT 180.92 674.70 Td (of ) Tj ET Q q 0 0 0 rg BT 189.31 674.70 Td (the ) Tj ET Q q 0 0 0 rg BT 202.04 674.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 221.38 674.70 Td (s ) Tj ET Q q 0 0 0 rg BT 227.17 674.70 Td (properties. ) Tj ET Q q 0 0 0 rg BT 265.87 674.70 Td (Property ) Tj ET Q q 0 0 0 rg BT 297.20 674.70 Td (administration ) Tj ET Q q 0 0 0 rg BT 347.60 674.70 Td (fees ) Tj ET Q q 0 0 0 rg BT 364.22 674.70 Td (were ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 382.99 674.70 Td ($1.3 ) Tj ET Q q 0 0 0 rg BT 400.05 674.70 Td (million) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 422.12 674.70 Td ( ) Tj ET Q q 0 0 0 rg BT 424.01 674.70 Td (for ) Tj ET Q q 0 0 0 rg BT 435.00 674.70 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 447.72 674.70 Td (three ) Tj ET Q q 0 0 0 rg BT 467.37 674.70 Td (months ) Tj ET Q q 0 0 0 rg BT 494.82 674.70 Td (ended ) Tj ET Q q 0 0 0 rg BT 518.37 674.70 Td (March ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 663.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 85.08 663.30 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 102.41 663.30 Td ( ) Tj ET Q q 0 0 0 rg BT 104.66 663.30 Td (\() Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 107.25 663.30 Td (March31, ) Tj ET Q q 0 0 0 rg BT 144.14 663.30 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 161.47 663.30 Td ( ) Tj ET Q q 0 0 0 rg BT 163.72 663.30 Td ( ) Tj ET Q q 0 0 0 rg BT 170.30 663.30 Td ( ) Tj ET Q q 0 0 0 rg BT 172.55 663.30 Td ($0.7 ) Tj ET Q q 0 0 0 rg BT 189.96 663.30 Td (million\). ) Tj ET Q q 0 0 0 rg BT 218.90 663.30 Td (These ) Tj ET Q q 0 0 0 rg BT 242.81 663.30 Td (fees ) Tj ET Q q 0 0 0 rg BT 259.78 663.30 Td (are ) Tj ET Q q 0 0 0 rg BT 273.29 663.30 Td (recovered ) Tj ET Q q 0 0 0 rg BT 310.18 663.30 Td (from ) Tj ET Q q 0 0 0 rg BT 328.01 663.30 Td (tenants ) Tj ET Q q 0 0 0 rg BT 355.82 663.30 Td (by ) Tj ET Q q 0 0 0 rg BT 366.29 663.30 Td (the ) Tj ET Q q 0 0 0 rg BT 379.37 663.30 Td (REIT) Tj ET Q q 0 0 0 rg BT 396.98 663.30 Td ( ) Tj ET Q q 0 0 0 rg BT 399.23 663.30 Td (and ) Tj ET Q q 0 0 0 rg BT 414.48 663.30 Td (payable ) Tj ET Q q 0 0 0 rg BT 444.01 663.30 Td (by ) Tj ET Q q 0 0 0 rg BT 454.49 663.30 Td (the ) Tj ET Q q 0 0 0 rg BT 467.57 663.30 Td (REIT) Tj ET Q q 0 0 0 rg BT 485.18 663.30 Td ( ) Tj ET Q q 0 0 0 rg BT 487.43 663.30 Td (to ) Tj ET Q q 0 0 0 rg BT 496.17 663.30 Td (the ) Tj ET Q q 0 0 0 rg BT 509.25 663.30 Td (Manager ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 651.90 Td (under ) Tj ET Q q 0 0 0 rg BT 94.09 651.90 Td (the ) Tj ET Q q 0 0 0 rg BT 107.09 651.90 Td (terms ) Tj ET Q q 0 0 0 rg BT 128.73 651.90 Td (of ) Tj ET Q q 0 0 0 rg BT 137.40 651.90 Td (the ) Tj ET Q q 0 0 0 rg BT 150.40 651.90 Td (Management ) Tj ET Q q 0 0 0 rg BT 197.61 651.90 Td (Agreement. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 637.50 Td (The ) Tj ET Q q 0 0 0 rg BT 88.08 637.50 Td (following ) Tj ET Q q 0 0 0 rg BT 121.05 637.50 Td (are ) Tj ET Q q 0 0 0 rg BT 134.97 637.50 Td (the ) Tj ET Q q 0 0 0 rg BT 148.46 637.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 173.64 637.50 Td (and ) Tj ET Q q 0 0 0 rg BT 189.29 637.50 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 221.39 637.50 Td (included ) Tj ET Q q 0 0 0 rg BT 253.07 637.50 Td (in ) Tj ET Q q 0 0 0 rg BT 261.79 637.50 Td (the ) Tj ET Q q 0 0 0 rg BT 275.28 637.50 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 321.69 637.50 Td (statement ) Tj ET Q q 0 0 0 rg BT 358.56 637.50 Td (of ) Tj ET Q q 0 0 0 rg BT 367.72 637.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 398.96 637.50 Td (position ) Tj ET Q q 0 0 0 rg BT 428.48 637.50 Td (of ) Tj ET Q q 0 0 0 rg BT 437.63 637.50 Td (the ) Tj ET Q q 0 0 0 rg BT 451.12 637.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 468.73 637.50 Td ( ) Tj ET Q q 0 0 0 rg BT 471.39 637.50 Td (related ) Tj ET Q q 0 0 0 rg BT 497.87 637.50 Td (to ) Tj ET Q q 0 0 0 rg BT 507.02 637.50 Td (SMC ) Tj ET Q q 0 0 0 rg BT 526.99 637.50 Td (and ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 626.10 Td (SLAM:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 609.6 m 397.5 609.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 597.6 m 397.5 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 609.6 m 407.5 609.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397.5 597.6 m 407.5 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 609.6 m 464.5 609.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 407.5 597.6 m 464.5 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464.5 609.6 m 474.5 609.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464.5 597.6 m 474.5 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 609.6 m 540.5 609.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 597.6 m 540.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 407.5 597.6 m 464.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464.5 597.6 m 474.5 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 597.6 m 540.5 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 552.6 m 397.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 552.6 m 407.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 552.6 m 464.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464.5 552.6 m 474.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 552.6 m 540.5 552.6 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 405.55 600.18 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.55 600.18 Td (December 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 587.13 Td (Accounts receivable) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 410.00 587.13 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 448.40 587.13 Td (805) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 477.00 587.13 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 587.13 Td (1,424) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 572.13 Td (Accounts payable and accrued liabilities) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 448.40 572.13 Td (355) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 572.13 Td (2,748) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 557.13 Td (Class B LP units) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 437.55 557.13 Td (41,700) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 557.13 Td (37,260) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 535.70 Td (SMC ) Tj ET Q q 0 0 0 rg BT 91.21 535.70 Td (has ) Tj ET Q q 0 0 0 rg BT 105.66 535.70 Td (provided ) Tj ET Q q 0 0 0 rg BT 137.45 535.70 Td (a ) Tj ET Q q 0 0 0 rg BT 143.68 535.70 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 180.66 535.70 Td (on ) Tj ET Q q 0 0 0 rg BT 191.22 535.70 Td (a ) Tj ET Q q 0 0 0 rg BT 197.45 535.70 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 232.26 535.70 Td (with ) Tj ET Q q 0 0 0 rg BT 248.01 535.70 Td (an ) Tj ET Q q 0 0 0 rg BT 258.58 535.70 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 295.56 535.70 Td (principal ) Tj ET Q q 0 0 0 rg BT 326.47 535.70 Td (balance ) Tj ET Q q 0 0 0 rg BT 355.66 535.70 Td (of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 364.06 535.70 Td ($1.6 ) Tj ET Q q 0 0 0 rg BT 381.12 535.70 Td (million) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 403.19 535.70 Td ( ) Tj ET Q q 0 0 0 rg BT 405.09 535.70 Td (at ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 413.49 535.70 Td (March31, ) Tj ET Q q 0 0 0 rg BT 450.03 535.70 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 467.36 535.70 Td ( ) Tj ET Q q 0 0 0 rg BT 469.26 535.70 Td (\() Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 471.85 535.70 Td (December31, ) Tj ET Q q 0 0 0 rg BT 522.68 535.70 Td (2015) Tj ET Q BT /F2 9.50 Tf ET BT /F1 9.50 Tf ET q 0 0 0 rg BT 72.00 524.30 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 76.75 524.30 Td ( ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 78.92 524.30 Td ($1.6 ) Tj ET Q q 0 0 0 rg BT 96.25 524.30 Td (million) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 118.32 524.30 Td (\). ) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 506.90 Td (20. ) Tj ET Q q 0 0 0 rg BT 85.00 506.90 Td ( ) Tj ET Q q 0 0 0 rg BT 87.16 506.90 Td ( ) Tj ET Q q 0 0 0 rg BT 89.33 506.90 Td ( ) Tj ET Q q 0 0 0 rg BT 91.50 506.90 Td ( ) Tj ET Q q 0 0 0 rg BT 93.66 506.90 Td (Fair ) Tj ET Q q 0 0 0 rg BT 110.12 506.90 Td (values ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 489.50 Td (The ) Tj ET Q q 0 0 0 rg BT 86.74 489.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 104.35 489.50 Td ( ) Tj ET Q q 0 0 0 rg BT 105.67 489.50 Td (uses ) Tj ET Q q 0 0 0 rg BT 123.45 489.50 Td (various ) Tj ET Q q 0 0 0 rg BT 149.88 489.50 Td (methods ) Tj ET Q q 0 0 0 rg BT 181.08 489.50 Td (in ) Tj ET Q q 0 0 0 rg BT 188.47 489.50 Td (estimating ) Tj ET Q q 0 0 0 rg BT 225.30 489.50 Td (the ) Tj ET Q q 0 0 0 rg BT 237.45 489.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 249.59 489.50 Td (values ) Tj ET Q q 0 0 0 rg BT 273.43 489.50 Td (of ) Tj ET Q q 0 0 0 rg BT 281.25 489.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 305.09 489.50 Td (and ) Tj ET Q q 0 0 0 rg BT 319.41 489.50 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 350.17 489.50 Td (recognized ) Tj ET Q q 0 0 0 rg BT 389.60 489.50 Td (and ) Tj ET Q q 0 0 0 rg BT 403.92 489.50 Td (measured ) Tj ET Q q 0 0 0 rg BT 439.88 489.50 Td (at ) Tj ET Q q 0 0 0 rg BT 447.70 489.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 459.84 489.50 Td (value ) Tj ET Q q 0 0 0 rg BT 479.78 489.50 Td (in ) Tj ET Q q 0 0 0 rg BT 487.16 489.50 Td (its ) Tj ET Q q 0 0 0 rg BT 496.28 489.50 Td (consolidated ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 478.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 101.82 478.10 Td (statements. ) Tj ET Q q 0 0 0 rg BT 143.25 478.10 Td (The ) Tj ET Q q 0 0 0 rg BT 157.91 478.10 Td (REIT) Tj ET Q q 0 0 0 rg BT 175.51 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 176.75 478.10 Td (has ) Tj ET Q q 0 0 0 rg BT 190.54 478.10 Td (a ) Tj ET Q q 0 0 0 rg BT 196.10 478.10 Td (management ) Tj ET Q q 0 0 0 rg BT 242.81 478.10 Td (team ) Tj ET Q q 0 0 0 rg BT 261.36 478.10 Td (that ) Tj ET Q q 0 0 0 rg BT 275.59 478.10 Td (has ) Tj ET Q q 0 0 0 rg BT 289.38 478.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 313.56 478.10 Td (responsibility ) Tj ET Q q 0 0 0 rg BT 359.83 478.10 Td (for ) Tj ET Q q 0 0 0 rg BT 370.15 478.10 Td (overseeing ) Tj ET Q q 0 0 0 rg BT 409.49 478.10 Td (all ) Tj ET Q q 0 0 0 rg BT 418.52 478.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 454.40 478.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 466.45 478.10 Td (value ) Tj ET Q q 0 0 0 rg BT 486.31 478.10 Td (measurements. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 466.70 Td (Significant ) Tj ET Q q 0 0 0 rg BT 110.56 466.70 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 159.95 466.70 Td (inputs ) Tj ET Q q 0 0 0 rg BT 183.36 466.70 Td (and ) Tj ET Q q 0 0 0 rg BT 198.97 466.70 Td (valuation ) Tj ET Q q 0 0 0 rg BT 232.77 466.70 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 277.39 466.70 Td (are ) Tj ET Q q 0 0 0 rg BT 291.26 466.70 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 325.05 466.70 Td (on ) Tj ET Q q 0 0 0 rg BT 336.33 466.70 Td (a ) Tj ET Q q 0 0 0 rg BT 343.27 466.70 Td (regular ) Tj ET Q q 0 0 0 rg BT 370.13 466.70 Td (basis. ) Tj ET Q q 0 0 0 rg BT 393.10 466.70 Td (In ) Tj ET Q q 0 0 0 rg BT 402.22 466.70 Td (addition, ) Tj ET Q q 0 0 0 rg BT 434.29 466.70 Td (when ) Tj ET Q q 0 0 0 rg BT 455.52 466.70 Td (third ) Tj ET Q q 0 0 0 rg BT 473.29 466.70 Td (party ) Tj ET Q q 0 0 0 rg BT 493.22 466.70 Td (information ) Tj ET Q q 0 0 0 rg BT 534.38 466.70 Td (is ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 455.30 Td (used ) Tj ET Q q 0 0 0 rg BT 90.30 455.30 Td (to ) Tj ET Q q 0 0 0 rg BT 98.20 455.30 Td (measure ) Tj ET Q q 0 0 0 rg BT 129.92 455.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 142.15 455.30 Td (values, ) Tj ET Q q 0 0 0 rg BT 168.24 455.30 Td (supporting ) Tj ET Q q 0 0 0 rg BT 206.03 455.30 Td (evidence ) Tj ET Q q 0 0 0 rg BT 238.62 455.30 Td (is ) Tj ET Q q 0 0 0 rg BT 245.65 455.30 Td (obtained ) Tj ET Q q 0 0 0 rg BT 276.95 455.30 Td (and ) Tj ET Q q 0 0 0 rg BT 291.35 455.30 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 323.93 455.30 Td (to ) Tj ET Q q 0 0 0 rg BT 331.84 455.30 Td (ensure ) Tj ET Q q 0 0 0 rg BT 357.06 455.30 Td (compliance ) Tj ET Q q 0 0 0 rg BT 397.88 455.30 Td (with ) Tj ET Q q 0 0 0 rg BT 413.13 455.30 Td (the ) Tj ET Q q 0 0 0 rg BT 425.37 455.30 Td (IFRS ) Tj ET Q q 0 0 0 rg BT 444.52 455.30 Td (requirements. ) Tj ET Q q 0 0 0 rg BT 493.56 455.30 Td ( ) Tj ET Q q 0 0 0 rg BT 494.87 455.30 Td (The ) Tj ET Q q 0 0 0 rg BT 509.70 455.30 Td (following ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 443.90 Td (categories ) Tj ET Q q 0 0 0 rg BT 110.11 443.90 Td (in ) Tj ET Q q 0 0 0 rg BT 118.34 443.90 Td (the ) Tj ET Q q 0 0 0 rg BT 131.34 443.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 144.33 443.90 Td (value ) Tj ET Q q 0 0 0 rg BT 165.12 443.90 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 199.33 443.90 Td (reflect ) Tj ET Q q 0 0 0 rg BT 222.71 443.90 Td (the ) Tj ET Q q 0 0 0 rg BT 235.71 443.90 Td (significance ) Tj ET Q q 0 0 0 rg BT 278.59 443.90 Td (of ) Tj ET Q q 0 0 0 rg BT 287.25 443.90 Td (inputs ) Tj ET Q q 0 0 0 rg BT 310.21 443.90 Td (used ) Tj ET Q q 0 0 0 rg BT 329.27 443.90 Td (in ) Tj ET Q q 0 0 0 rg BT 337.50 443.90 Td (determining ) Tj ET Q q 0 0 0 rg BT 380.37 443.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 393.36 443.90 Td (values:) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 426.50 Td (Level ) Tj ET Q q 0 0 0 rg BT 92.79 426.50 Td (1 ) Tj ET Q q 0 0 0 rg BT 99.29 426.50 Td (- ) Tj ET Q q 0 0 0 rg BT 104.05 426.50 Td (quoted ) Tj ET Q q 0 0 0 rg BT 130.05 426.50 Td (prices ) Tj ET Q q 0 0 0 rg BT 152.99 426.50 Td (in ) Tj ET Q q 0 0 0 rg BT 161.22 426.50 Td (active ) Tj ET Q q 0 0 0 rg BT 183.74 426.50 Td (markets;) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 409.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 92.27 409.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 98.24 409.10 Td (- ) Tj ET Q q 0 0 0 rg BT 102.48 409.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 124.91 409.10 Td (other ) Tj ET Q q 0 0 0 rg BT 144.31 409.10 Td (than ) Tj ET Q q 0 0 0 rg BT 161.11 409.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 186.58 409.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 209.01 409.10 Td (in ) Tj ET Q q 0 0 0 rg BT 216.71 409.10 Td (active ) Tj ET Q q 0 0 0 rg BT 238.71 409.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 268.06 409.10 Td (or ) Tj ET Q q 0 0 0 rg BT 276.62 409.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 309.45 409.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 348.78 409.10 Td (where ) Tj ET Q q 0 0 0 rg BT 371.63 409.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 407.92 409.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 430.35 409.10 Td (are ) Tj ET Q q 0 0 0 rg BT 443.25 409.10 Td (based ) Tj ET Q q 0 0 0 rg BT 466.12 409.10 Td (on ) Tj ET Q q 0 0 0 rg BT 476.43 409.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 516.18 409.10 Td (market ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 397.70 Td (data; ) Tj ET Q q 0 0 0 rg BT 91.50 397.70 Td (and) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 380.30 Td (Level ) Tj ET Q q 0 0 0 rg BT 92.79 380.30 Td (3 ) Tj ET Q q 0 0 0 rg BT 99.29 380.30 Td (- ) Tj ET Q q 0 0 0 rg BT 104.05 380.30 Td (valuation ) Tj ET Q q 0 0 0 rg BT 137.40 380.30 Td (technique ) Tj ET Q q 0 0 0 rg BT 173.36 380.30 Td (for ) Tj ET Q q 0 0 0 rg BT 184.62 380.30 Td (which ) Tj ET Q q 0 0 0 rg BT 206.70 380.30 Td (significant ) Tj ET Q q 0 0 0 rg BT 243.51 380.30 Td (inputs ) Tj ET Q q 0 0 0 rg BT 266.47 380.30 Td (are ) Tj ET Q q 0 0 0 rg BT 279.89 380.30 Td (not ) Tj ET Q q 0 0 0 rg BT 292.89 380.30 Td (based ) Tj ET Q q 0 0 0 rg BT 316.28 380.30 Td (on ) Tj ET Q q 0 0 0 rg BT 327.12 380.30 Td (observable ) Tj ET Q q 0 0 0 rg BT 367.39 380.30 Td (market ) Tj ET Q q 0 0 0 rg BT 393.37 380.30 Td (data.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 362.90 Td (The ) Tj ET Q q 0 0 0 rg BT 86.86 362.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 99.12 362.90 Td (values ) Tj ET Q q 0 0 0 rg BT 123.07 362.90 Td (of ) Tj ET Q q 0 0 0 rg BT 131.01 362.90 Td (the ) Tj ET Q q 0 0 0 rg BT 143.28 362.90 Td (REIT) Tj ET Q q 0 0 0 rg BT 162.62 362.90 Td (s ) Tj ET Q q 0 0 0 rg BT 167.95 362.90 Td (cash, ) Tj ET Q q 0 0 0 rg BT 188.01 362.90 Td (restricted ) Tj ET Q q 0 0 0 rg BT 221.48 362.90 Td (cash, ) Tj ET Q q 0 0 0 rg BT 241.54 362.90 Td (accounts ) Tj ET Q q 0 0 0 rg BT 274.17 362.90 Td (receivable ) Tj ET Q q 0 0 0 rg BT 311.11 362.90 Td (and ) Tj ET Q q 0 0 0 rg BT 325.54 362.90 Td (accounts ) Tj ET Q q 0 0 0 rg BT 358.17 362.90 Td (payable ) Tj ET Q q 0 0 0 rg BT 386.89 362.90 Td (and ) Tj ET Q q 0 0 0 rg BT 401.32 362.90 Td (other ) Tj ET Q q 0 0 0 rg BT 420.52 362.90 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 451.40 362.90 Td (approximate ) Tj ET Q q 0 0 0 rg BT 495.70 362.90 Td (their ) Tj ET Q q 0 0 0 rg BT 512.29 362.90 Td (carrying ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 351.50 Td (amounts ) Tj ET Q q 0 0 0 rg BT 104.10 351.50 Td (due ) Tj ET Q q 0 0 0 rg BT 119.32 351.50 Td (to ) Tj ET Q q 0 0 0 rg BT 128.04 351.50 Td (the ) Tj ET Q q 0 0 0 rg BT 141.09 351.50 Td (relatively ) Tj ET Q q 0 0 0 rg BT 174.05 351.50 Td (short ) Tj ET Q q 0 0 0 rg BT 193.60 351.50 Td (periods ) Tj ET Q q 0 0 0 rg BT 221.37 351.50 Td (to ) Tj ET Q q 0 0 0 rg BT 230.08 351.50 Td (maturity ) Tj ET Q q 0 0 0 rg BT 260.01 351.50 Td (of ) Tj ET Q q 0 0 0 rg BT 268.73 351.50 Td (these ) Tj ET Q q 0 0 0 rg BT 290.01 351.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 320.82 351.50 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 365.34 351.50 Td (The ) Tj ET Q q 0 0 0 rg BT 380.98 351.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 394.02 351.50 Td (value ) Tj ET Q q 0 0 0 rg BT 414.87 351.50 Td (of ) Tj ET Q q 0 0 0 rg BT 423.59 351.50 Td (the ) Tj ET Q q 0 0 0 rg BT 436.64 351.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 455.98 351.50 Td (s ) Tj ET Q q 0 0 0 rg BT 462.10 351.50 Td (revolving ) Tj ET Q q 0 0 0 rg BT 495.49 351.50 Td (credit ) Tj ET Q q 0 0 0 rg BT 516.76 351.50 Td (facility) Tj ET Q q 0 0 0 rg BT 537.84 351.50 Td (, ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 340.10 Td (revolving ) Tj ET Q q 0 0 0 rg BT 104.90 340.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 139.11 340.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 162.49 340.10 Td (and ) Tj ET Q q 0 0 0 rg BT 177.21 340.10 Td (co-owned ) Tj ET Q q 0 0 0 rg BT 212.71 340.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 249.08 340.10 Td (term ) Tj ET Q q 0 0 0 rg BT 266.39 340.10 Td (loan, ) Tj ET Q q 0 0 0 rg BT 285.01 340.10 Td (approximates ) Tj ET Q q 0 0 0 rg BT 333.50 340.10 Td (their ) Tj ET Q q 0 0 0 rg BT 350.38 340.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 379.82 340.10 Td (value ) Tj ET Q q 0 0 0 rg BT 400.17 340.10 Td (since ) Tj ET Q q 0 0 0 rg BT 420.08 340.10 Td (the ) Tj ET Q q 0 0 0 rg BT 432.64 340.10 Td (facilities ) Tj ET Q q 0 0 0 rg BT 462.08 340.10 Td (bear ) Tj ET Q q 0 0 0 rg BT 479.39 340.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 506.67 340.10 Td (at ) Tj ET Q q 0 0 0 rg BT 514.89 340.10 Td (floating ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 328.70 Td (market ) Tj ET Q q 0 0 0 rg BT 98.12 328.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 125.98 328.70 Td (rates. ) Tj ET Q q 0 0 0 rg BT 147.78 328.70 Td (Mortgages ) Tj ET Q q 0 0 0 rg BT 186.89 328.70 Td (are ) Tj ET Q q 0 0 0 rg BT 200.46 328.70 Td (measured ) Tj ET Q q 0 0 0 rg BT 237.41 328.70 Td (at ) Tj ET Q q 0 0 0 rg BT 246.22 328.70 Td (amortized ) Tj ET Q q 0 0 0 rg BT 282.74 328.70 Td (cost, ) Tj ET Q q 0 0 0 rg BT 301.50 328.70 Td (and ) Tj ET Q q 0 0 0 rg BT 316.81 328.70 Td (their ) Tj ET Q q 0 0 0 rg BT 334.28 328.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 347.41 328.70 Td (values ) Tj ET Q q 0 0 0 rg BT 372.24 328.70 Td (are ) Tj ET Q q 0 0 0 rg BT 385.80 328.70 Td (based ) Tj ET Q q 0 0 0 rg BT 409.34 328.70 Td (on ) Tj ET Q q 0 0 0 rg BT 420.31 328.70 Td (discounted ) Tj ET Q q 0 0 0 rg BT 460.31 328.70 Td (future ) Tj ET Q q 0 0 0 rg BT 482.54 328.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 501.31 328.70 Td (flows ) Tj ET Q q 0 0 0 rg BT 521.37 328.70 Td (using ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 317.30 Td (discount ) Tj ET Q q 0 0 0 rg BT 103.19 317.30 Td (rates ) Tj ET Q q 0 0 0 rg BT 122.67 317.30 Td (that ) Tj ET Q q 0 0 0 rg BT 137.84 317.30 Td (reflect ) Tj ET Q q 0 0 0 rg BT 161.22 317.30 Td (current ) Tj ET Q q 0 0 0 rg BT 187.64 317.30 Td (market ) Tj ET Q q 0 0 0 rg BT 213.61 317.30 Td (conditions ) Tj ET Q q 0 0 0 rg BT 250.86 317.30 Td (for ) Tj ET Q q 0 0 0 rg BT 262.12 317.30 Td (instruments ) Tj ET Q q 0 0 0 rg BT 304.56 317.30 Td (with ) Tj ET Q q 0 0 0 rg BT 320.58 317.30 Td (similar ) Tj ET Q q 0 0 0 rg BT 345.25 317.30 Td (terms ) Tj ET Q q 0 0 0 rg BT 366.89 317.30 Td (and ) Tj ET Q q 0 0 0 rg BT 382.06 317.30 Td (risks. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 299.90 Td (The ) Tj ET Q q 0 0 0 rg BT 87.58 299.90 Td (following ) Tj ET Q q 0 0 0 rg BT 120.05 299.90 Td (tables ) Tj ET Q q 0 0 0 rg BT 143.00 299.90 Td (summarize ) Tj ET Q q 0 0 0 rg BT 183.25 299.90 Td (the ) Tj ET Q q 0 0 0 rg BT 196.24 299.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 209.22 299.90 Td (value ) Tj ET Q q 0 0 0 rg BT 230.00 299.90 Td (measurements ) Tj ET Q q 0 0 0 rg BT 283.68 299.90 Td (recognized ) Tj ET Q q 0 0 0 rg BT 323.95 299.90 Td (on ) Tj ET Q q 0 0 0 rg BT 334.77 299.90 Td (the ) Tj ET Q q 0 0 0 rg BT 347.76 299.90 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 393.67 299.90 Td (statement ) Tj ET Q q 0 0 0 rg BT 430.04 299.90 Td (of ) Tj ET Q q 0 0 0 rg BT 438.70 299.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 469.44 299.90 Td (position ) Tj ET Q q 0 0 0 rg BT 498.45 299.90 Td (or ) Tj ET Q q 0 0 0 rg BT 507.53 299.90 Td (disclosed ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 288.50 Td (in ) Tj ET Q q 0 0 0 rg BT 80.23 288.50 Td (the ) Tj ET Q q 0 0 0 rg BT 93.23 288.50 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 118.53 288.50 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 164.44 288.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 195.19 288.50 Td (statements, ) Tj ET Q q 0 0 0 rg BT 237.64 288.50 Td (categorized ) Tj ET Q q 0 0 0 rg BT 280.08 288.50 Td (by ) Tj ET Q q 0 0 0 rg BT 290.48 288.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 303.47 288.50 Td (value ) Tj ET Q q 0 0 0 rg BT 324.26 288.50 Td (hierarchy:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 275 m 277.5 275 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 275 m 308.5 275 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 275 m 312.5 275 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 275 m 369.5 275 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 275 m 426.5 275 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 275 m 483.5 275 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 275 m 540.5 275 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 260 m 426.5 260 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 260 m 483.5 260 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 260 m 540.5 260 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 235 m 277.5 235 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 235 m 308.5 235 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 235 m 312.5 235 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 235 m 369.5 235 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 235 m 426.5 235 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 235 m 483.5 235 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 235 m 540.5 235 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 115 m 277.5 115 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 115 m 308.5 115 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 115 m 312.5 115 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 115 m 369.5 115 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 115 m 426.5 115 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 115 m 483.5 115 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 115 m 540.5 115 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 443.15 264.53 Td (Fair Value) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 239.53 Td (March 31, 2016) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 283.80 239.53 Td (Note) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 333.95 249.03 Td (Carrying) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 337.85 239.53 Td (amount) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 396.55 239.53 Td (Level 1) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 453.55 239.53 Td (Level 2) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 510.55 239.53 Td (Level 3) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 224.53 Td (Recorded at fair value) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 209.53 Td (Investment properties) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 290.30 209.48 Td (4) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 315.00 209.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 338.20 209.53 Td (741,681) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 372.00 209.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 415.60 209.53 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 429.00 209.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.60 209.53 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 209.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 209.53 Td (741,681) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 194.53 Td (Interest rate swaps) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 288.15 194.48 Td (10) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 344.30 194.58 Td (\(3,964) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 366.40 194.53 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 415.60 194.53 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 458.30 194.53 Td (\(3,964) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 480.40 194.53 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 194.53 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 179.53 Td (Class B LP units) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 288.15 179.48 Td (11) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 339.95 179.53 Td (\(41,700) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 366.40 179.53 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 396.95 179.53 Td (\(41,700) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 423.40 179.53 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.60 179.53 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 179.53 Td () Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 164.53 Td (Fair values disclosed) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 149.53 Td (Cash) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 346.90 149.53 Td (2,325) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 403.90 149.53 Td (2,325) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.60 149.53 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 149.53 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 134.53 Td (Restricted cash) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 346.90 134.53 Td (1,403) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 403.90 134.53 Td (1,403) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.60 134.53 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 134.53 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 119.53 Td (Debt) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 290.30 119.48 Td (8) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 315.00 119.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 335.60 119.58 Td (\(493,496) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 366.40 119.53 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 372.00 119.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 415.60 119.53 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 429.00 119.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 449.60 119.53 Td (\(497,224) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 480.40 119.53 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 119.53 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 119.53 Td () Tj ET Q BT /F1 10.00 Tf ET endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.25 42.95 Td (Page 19) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 692.5 m 277.5 692.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 692.5 m 308.5 692.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 692.5 m 312.5 692.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 692.5 m 369.5 692.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 692.5 m 426.5 692.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 692.5 m 483.5 692.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 692.5 m 540.5 692.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 653.5 m 277.5 653.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 277.5 653.5 m 308.5 653.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 308.5 653.5 m 312.5 653.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 312.5 653.5 m 369.5 653.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 677.5 m 426.5 677.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369.5 653.5 m 426.5 653.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 677.5 m 483.5 677.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 653.5 m 483.5 653.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 677.5 m 540.5 677.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483.5 653.5 m 540.5 653.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 533.5 m 277.5 533.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277.5 533.5 m 308.5 533.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 533.5 m 312.5 533.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 533.5 m 369.5 533.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 533.5 m 426.5 533.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 533.5 m 483.5 533.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 533.5 m 540.5 533.5 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 443.15 682.03 Td (Fair Value) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 658.03 Td (December 31, 2015) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 283.80 658.03 Td (Note) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 333.95 667.53 Td (Carrying) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 337.85 658.03 Td (amount) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 396.55 658.03 Td (Level 1) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 453.55 658.03 Td (Level 2) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 510.55 658.03 Td (Level 3) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 643.03 Td (Recorded at fair value) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 628.03 Td (Investment properties) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 290.30 627.98 Td (4) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 315.00 628.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 338.20 628.03 Td (729,089) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 372.00 628.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 415.60 628.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 429.00 628.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.60 628.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 628.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 628.03 Td (729,089) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 613.03 Td (Interest rate swaps) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 288.15 612.98 Td (10) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 344.30 613.08 Td (\(3,153) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 366.40 613.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 415.60 613.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 458.30 613.03 Td (\(3,153) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 480.40 613.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 613.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 598.03 Td (Class B LP units) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 288.15 597.98 Td (11) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 339.95 598.03 Td (\(37,260) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 366.40 598.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 396.95 598.03 Td (\(37,260) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 423.40 598.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.60 598.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 598.03 Td () Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 583.03 Td (Fair values disclosed) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 568.03 Td (Cash) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 346.90 568.03 Td (8,917) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 403.90 568.03 Td (8,917) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.60 568.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 568.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 553.03 Td (Restricted cash) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 346.90 553.03 Td (1,403) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 403.90 553.03 Td (1,403) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.60 553.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 553.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 538.03 Td (Debt) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 290.30 537.98 Td (8) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 315.00 538.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 335.60 538.08 Td (\(495,604) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 366.40 538.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 372.00 538.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 415.60 538.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 429.00 538.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 449.60 538.03 Td (\(499,086) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 480.40 538.03 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 486.00 538.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 538.03 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 516.60 Td (21. ) Tj ET Q q 0 0 0 rg BT 85.00 516.60 Td ( ) Tj ET Q q 0 0 0 rg BT 87.16 516.60 Td ( ) Tj ET Q q 0 0 0 rg BT 89.33 516.60 Td ( ) Tj ET Q q 0 0 0 rg BT 91.50 516.60 Td (Risk ) Tj ET Q q 0 0 0 rg BT 110.12 516.60 Td (management) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 499.25 Td (In ) Tj ET Q q 0 0 0 rg BT 81.13 499.25 Td (the ) Tj ET Q q 0 0 0 rg BT 94.60 499.25 Td (normal ) Tj ET Q q 0 0 0 rg BT 121.05 499.25 Td (course ) Tj ET Q q 0 0 0 rg BT 147.07 499.25 Td (of ) Tj ET Q q 0 0 0 rg BT 156.20 499.25 Td (business, ) Tj ET Q q 0 0 0 rg BT 191.75 499.25 Td (the ) Tj ET Q q 0 0 0 rg BT 205.22 499.25 Td (REIT) Tj ET Q q 0 0 0 rg BT 222.83 499.25 Td ( ) Tj ET Q q 0 0 0 rg BT 225.46 499.25 Td (is ) Tj ET Q q 0 0 0 rg BT 233.73 499.25 Td (exposed ) Tj ET Q q 0 0 0 rg BT 265.82 499.25 Td (to ) Tj ET Q q 0 0 0 rg BT 274.95 499.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 306.17 499.25 Td (risks ) Tj ET Q q 0 0 0 rg BT 324.82 499.25 Td (that ) Tj ET Q q 0 0 0 rg BT 340.45 499.25 Td (arise ) Tj ET Q q 0 0 0 rg BT 359.97 499.25 Td (from ) Tj ET Q q 0 0 0 rg BT 378.19 499.25 Td (its ) Tj ET Q q 0 0 0 rg BT 388.62 499.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 419.84 499.25 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 464.91 499.25 Td (Other ) Tj ET Q q 0 0 0 rg BT 487.03 499.25 Td (than ) Tj ET Q q 0 0 0 rg BT 504.83 499.25 Td (the ) Tj ET Q q 0 0 0 rg BT 518.30 499.25 Td (use ) Tj ET Q q 0 0 0 rg BT 533.50 499.25 Td (of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 487.80 Td (interest ) Tj ET Q q 0 0 0 rg BT 99.83 487.80 Td (rate ) Tj ET Q q 0 0 0 rg BT 115.54 487.80 Td (swaps ) Tj ET Q q 0 0 0 rg BT 139.90 487.80 Td (related ) Tj ET Q q 0 0 0 rg BT 166.01 487.80 Td (to ) Tj ET Q q 0 0 0 rg BT 174.79 487.80 Td (its ) Tj ET Q q 0 0 0 rg BT 184.86 487.80 Td (floating ) Tj ET Q q 0 0 0 rg BT 212.27 487.80 Td (rate ) Tj ET Q q 0 0 0 rg BT 227.98 487.80 Td (mortgages ) Tj ET Q q 0 0 0 rg BT 267.07 487.80 Td (payable, ) Tj ET Q q 0 0 0 rg BT 298.81 487.80 Td (the ) Tj ET Q q 0 0 0 rg BT 311.92 487.80 Td (REIT) Tj ET Q q 0 0 0 rg BT 329.53 487.80 Td ( ) Tj ET Q q 0 0 0 rg BT 331.81 487.80 Td (does ) Tj ET Q q 0 0 0 rg BT 350.99 487.80 Td (not ) Tj ET Q q 0 0 0 rg BT 364.11 487.80 Td (use ) Tj ET Q q 0 0 0 rg BT 378.95 487.80 Td (hedging ) Tj ET Q q 0 0 0 rg BT 408.96 487.80 Td (transactions ) Tj ET Q q 0 0 0 rg BT 453.25 487.80 Td (to ) Tj ET Q q 0 0 0 rg BT 462.03 487.80 Td (manage ) Tj ET Q q 0 0 0 rg BT 492.47 487.80 Td (risk. ) Tj ET Q q 0 0 0 rg BT 508.58 487.80 Td (As ) Tj ET Q q 0 0 0 rg BT 519.96 487.80 Td (a ) Tj ET Q q 0 0 0 rg BT 526.57 487.80 Td (part ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 476.45 Td (of ) Tj ET Q q 0 0 0 rg BT 80.46 476.45 Td (the ) Tj ET Q q 0 0 0 rg BT 93.24 476.45 Td (overall ) Tj ET Q q 0 0 0 rg BT 118.15 476.45 Td (operation ) Tj ET Q q 0 0 0 rg BT 152.59 476.45 Td (of ) Tj ET Q q 0 0 0 rg BT 161.05 476.45 Td (the ) Tj ET Q q 0 0 0 rg BT 173.84 476.45 Td (REIT) Tj ET Q q 0 0 0 rg BT 190.72 476.45 Td (, ) Tj ET Q q 0 0 0 rg BT 194.84 476.45 Td (management ) Tj ET Q q 0 0 0 rg BT 242.27 476.45 Td (takes ) Tj ET Q q 0 0 0 rg BT 262.85 476.45 Td (steps ) Tj ET Q q 0 0 0 rg BT 283.43 476.45 Td (to ) Tj ET Q q 0 0 0 rg BT 291.89 476.45 Td (avoid ) Tj ET Q q 0 0 0 rg BT 312.47 476.45 Td (undue ) Tj ET Q q 0 0 0 rg BT 336.09 476.45 Td (concentrations ) Tj ET Q q 0 0 0 rg BT 388.72 476.45 Td (of ) Tj ET Q q 0 0 0 rg BT 397.18 476.45 Td (risks. ) Tj ET Q q 0 0 0 rg BT 417.19 476.45 Td (The ) Tj ET Q q 0 0 0 rg BT 432.58 476.45 Td (following ) Tj ET Q q 0 0 0 rg BT 464.84 476.45 Td (describes ) Tj ET Q q 0 0 0 rg BT 500.14 476.45 Td (the ) Tj ET Q q 0 0 0 rg BT 512.93 476.45 Td (types ) Tj ET Q q 0 0 0 rg BT 533.51 476.45 Td (of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 465.00 Td (risks ) Tj ET Q q 0 0 0 rg BT 90.18 465.00 Td (that ) Tj ET Q q 0 0 0 rg BT 105.34 465.00 Td (the ) Tj ET Q q 0 0 0 rg BT 118.34 465.00 Td (REIT) Tj ET Q q 0 0 0 rg BT 135.95 465.00 Td ( ) Tj ET Q q 0 0 0 rg BT 138.12 465.00 Td (is ) Tj ET Q q 0 0 0 rg BT 145.91 465.00 Td (exposed ) Tj ET Q q 0 0 0 rg BT 177.53 465.00 Td (to ) Tj ET Q q 0 0 0 rg BT 186.20 465.00 Td (and ) Tj ET Q q 0 0 0 rg BT 201.36 465.00 Td (its ) Tj ET Q q 0 0 0 rg BT 211.32 465.00 Td (objectives ) Tj ET Q q 0 0 0 rg BT 248.14 465.00 Td (and ) Tj ET Q q 0 0 0 rg BT 263.30 465.00 Td (policies ) Tj ET Q q 0 0 0 rg BT 291.45 465.00 Td (for ) Tj ET Q q 0 0 0 rg BT 302.71 465.00 Td (managing ) Tj ET Q q 0 0 0 rg BT 339.09 465.00 Td (those ) Tj ET Q q 0 0 0 rg BT 360.32 465.00 Td (risk ) Tj ET Q q 0 0 0 rg BT 374.60 465.00 Td (exposures:) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 72.00 447.60 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 102.75 447.60 Td (risk) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 430.25 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 102.75 430.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 117.03 430.25 Td (is ) Tj ET Q q 0 0 0 rg BT 124.83 430.25 Td (the ) Tj ET Q q 0 0 0 rg BT 137.83 430.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 152.11 430.25 Td (that ) Tj ET Q q 0 0 0 rg BT 167.27 430.25 Td (the ) Tj ET Q q 0 0 0 rg BT 180.27 430.25 Td (REIT) Tj ET Q q 0 0 0 rg BT 197.88 430.25 Td ( ) Tj ET Q q 0 0 0 rg BT 200.05 430.25 Td (will ) Tj ET Q q 0 0 0 rg BT 213.03 430.25 Td (encounter ) Tj ET Q q 0 0 0 rg BT 249.84 430.25 Td (dif) Tj ET Q q 0 0 0 rg BT 257.94 430.25 Td (ficulty ) Tj ET Q q 0 0 0 rg BT 280.03 430.25 Td (in ) Tj ET Q q 0 0 0 rg BT 288.25 430.25 Td (meeting ) Tj ET Q q 0 0 0 rg BT 318.14 430.25 Td (its ) Tj ET Q q 0 0 0 rg BT 328.10 430.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 345.43 430.25 Td (and ) Tj ET Q q 0 0 0 rg BT 360.59 430.25 Td (other ) Tj ET Q q 0 0 0 rg BT 380.52 430.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 411.27 430.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 450.68 430.25 Td (as ) Tj ET Q q 0 0 0 rg BT 461.08 430.25 Td (they ) Tj ET Q q 0 0 0 rg BT 477.97 430.25 Td (mature.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 412.80 Td (The ) Tj ET Q q 0 0 0 rg BT 87.62 412.80 Td (principal ) Tj ET Q q 0 0 0 rg BT 118.82 412.80 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 146.99 412.80 Td (needs ) Tj ET Q q 0 0 0 rg BT 170.41 412.80 Td (of ) Tj ET Q q 0 0 0 rg BT 179.10 412.80 Td (the ) Tj ET Q q 0 0 0 rg BT 192.13 412.80 Td (REIT) Tj ET Q q 0 0 0 rg BT 209.74 412.80 Td ( ) Tj ET Q q 0 0 0 rg BT 211.93 412.80 Td (arise ) Tj ET Q q 0 0 0 rg BT 231.00 412.80 Td (from ) Tj ET Q q 0 0 0 rg BT 248.78 412.80 Td (working ) Tj ET Q q 0 0 0 rg BT 277.81 412.80 Td (capital ) Tj ET Q q 0 0 0 rg BT 302.52 412.80 Td (requirements; ) Tj ET Q q 0 0 0 rg BT 352.35 412.80 Td (debt ) Tj ET Q q 0 0 0 rg BT 369.70 412.80 Td (servicing ) Tj ET Q q 0 0 0 rg BT 402.64 412.80 Td (and ) Tj ET Q q 0 0 0 rg BT 417.83 412.80 Td (repayment ) Tj ET Q q 0 0 0 rg BT 456.83 412.80 Td (obligations; ) Tj ET Q q 0 0 0 rg BT 498.43 412.80 Td (distributions ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 401.40 Td (to ) Tj ET Q q 0 0 0 rg BT 81.33 401.40 Td (unitholders; ) Tj ET Q q 0 0 0 rg BT 124.43 401.40 Td (obligations ) Tj ET Q q 0 0 0 rg BT 164.51 401.40 Td (to ) Tj ET Q q 0 0 0 rg BT 173.83 401.40 Td (redeem ) Tj ET Q q 0 0 0 rg BT 203.07 401.40 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 246.19 401.40 Td (puttable ) Tj ET Q q 0 0 0 rg BT 276.74 401.40 Td (trust ) Tj ET Q q 0 0 0 rg BT 294.72 401.40 Td (units ) Tj ET Q q 0 0 0 rg BT 314.01 401.40 Td (at ) Tj ET Q q 0 0 0 rg BT 323.33 401.40 Td (the ) Tj ET Q q 0 0 0 rg BT 336.99 401.40 Td (option ) Tj ET Q q 0 0 0 rg BT 361.04 401.40 Td (of ) Tj ET Q q 0 0 0 rg BT 370.37 401.40 Td (the ) Tj ET Q q 0 0 0 rg BT 384.03 401.40 Td (unitholders; ) Tj ET Q q 0 0 0 rg BT 427.13 401.40 Td (planned ) Tj ET Q q 0 0 0 rg BT 457.69 401.40 Td (funding ) Tj ET Q q 0 0 0 rg BT 486.07 401.40 Td (of ) Tj ET Q q 0 0 0 rg BT 495.40 401.40 Td (maintenance ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 390.00 Td (capital ) Tj ET Q q 0 0 0 rg BT 96.69 390.00 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 143.47 390.00 Td (and ) Tj ET Q q 0 0 0 rg BT 158.63 390.00 Td (leasing ) Tj ET Q q 0 0 0 rg BT 185.48 390.00 Td (costs; ) Tj ET Q q 0 0 0 rg BT 208.00 390.00 Td (and ) Tj ET Q q 0 0 0 rg BT 223.17 390.00 Td (future ) Tj ET Q q 0 0 0 rg BT 245.26 390.00 Td (investment ) Tj ET Q q 0 0 0 rg BT 285.10 390.00 Td (property ) Tj ET Q q 0 0 0 rg BT 315.85 390.00 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 354.83 390.00 Td (funding ) Tj ET Q q 0 0 0 rg BT 382.55 390.00 Td (requirements.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 372.60 Td (The ) Tj ET Q q 0 0 0 rg BT 88.22 372.60 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 117.01 372.60 Td (needs ) Tj ET Q q 0 0 0 rg BT 141.03 372.60 Td (of ) Tj ET Q q 0 0 0 rg BT 150.33 372.60 Td (the ) Tj ET Q q 0 0 0 rg BT 163.97 372.60 Td (REIT) Tj ET Q q 0 0 0 rg BT 181.57 372.60 Td ( ) Tj ET Q q 0 0 0 rg BT 184.37 372.60 Td (are ) Tj ET Q q 0 0 0 rg BT 198.43 372.60 Td (funded ) Tj ET Q q 0 0 0 rg BT 225.06 372.60 Td (by ) Tj ET Q q 0 0 0 rg BT 236.09 372.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 255.35 372.60 Td (flows ) Tj ET Q q 0 0 0 rg BT 275.90 372.60 Td (from ) Tj ET Q q 0 0 0 rg BT 294.28 372.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 329.57 372.60 Td (the ) Tj ET Q q 0 0 0 rg BT 343.20 372.60 Td (REIT) Tj ET Q q 0 0 0 rg BT 362.54 372.60 Td (s ) Tj ET Q q 0 0 0 rg BT 369.23 372.60 Td (investment ) Tj ET Q q 0 0 0 rg BT 409.71 372.60 Td (property ) Tj ET Q q 0 0 0 rg BT 441.09 372.60 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 471.61 372.60 Td (and ) Tj ET Q q 0 0 0 rg BT 487.41 372.60 Td (available ) Tj ET Q q 0 0 0 rg BT 520.96 372.60 Td (credit ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 361.20 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 103.44 361.20 Td (with ) Tj ET Q q 0 0 0 rg BT 118.85 361.20 Td (the ) Tj ET Q q 0 0 0 rg BT 131.24 361.20 Td (exception ) Tj ET Q q 0 0 0 rg BT 166.15 361.20 Td (of ) Tj ET Q q 0 0 0 rg BT 174.21 361.20 Td (debt ) Tj ET Q q 0 0 0 rg BT 190.93 361.20 Td (repayment ) Tj ET Q q 0 0 0 rg BT 229.30 361.20 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 270.28 361.20 Td (investment ) Tj ET Q q 0 0 0 rg BT 309.51 361.20 Td (property ) Tj ET Q q 0 0 0 rg BT 339.65 361.20 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 378.02 361.20 Td (funding ) Tj ET Q q 0 0 0 rg BT 405.14 361.20 Td (requirements ) Tj ET Q q 0 0 0 rg BT 452.16 361.20 Td (and ) Tj ET Q q 0 0 0 rg BT 466.72 361.20 Td (obligations ) Tj ET Q q 0 0 0 rg BT 505.53 361.20 Td (to ) Tj ET Q q 0 0 0 rg BT 513.59 361.20 Td (redeem ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 349.80 Td (puttable ) Tj ET Q q 0 0 0 rg BT 102.10 349.80 Td (trust ) Tj ET Q q 0 0 0 rg BT 119.63 349.80 Td (units. ) Tj ET Q q 0 0 0 rg BT 140.49 349.80 Td (These ) Tj ET Q q 0 0 0 rg BT 164.52 349.80 Td (are ) Tj ET Q q 0 0 0 rg BT 178.15 349.80 Td (funded ) Tj ET Q q 0 0 0 rg BT 204.35 349.80 Td (by ) Tj ET Q q 0 0 0 rg BT 214.96 349.80 Td (refinancing ) Tj ET Q q 0 0 0 rg BT 255.45 349.80 Td (the ) Tj ET Q q 0 0 0 rg BT 268.66 349.80 Td (REIT) Tj ET Q q 0 0 0 rg BT 287.99 349.80 Td (s ) Tj ET Q q 0 0 0 rg BT 294.27 349.80 Td (maturing ) Tj ET Q q 0 0 0 rg BT 326.95 349.80 Td (debt, ) Tj ET Q q 0 0 0 rg BT 346.66 349.80 Td (financing ) Tj ET Q q 0 0 0 rg BT 380.22 349.80 Td (unencumbered ) Tj ET Q q 0 0 0 rg BT 434.57 349.80 Td (properties, ) Tj ET Q q 0 0 0 rg BT 473.76 349.80 Td (or ) Tj ET Q q 0 0 0 rg BT 483.06 349.80 Td (future ) Tj ET Q q 0 0 0 rg BT 505.36 349.80 Td (issuances ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 338.40 Td (of ) Tj ET Q q 0 0 0 rg BT 80.39 338.40 Td (REIT) Tj ET Q q 0 0 0 rg BT 98.00 338.40 Td ( ) Tj ET Q q 0 0 0 rg BT 99.88 338.40 Td (units ) Tj ET Q q 0 0 0 rg BT 118.23 338.40 Td (and ) Tj ET Q q 0 0 0 rg BT 133.11 338.40 Td (debentures. ) Tj ET Q q 0 0 0 rg BT 176.03 338.40 Td (The ) Tj ET Q q 0 0 0 rg BT 191.34 338.40 Td (particular ) Tj ET Q q 0 0 0 rg BT 225.27 338.40 Td (features ) Tj ET Q q 0 0 0 rg BT 255.31 338.40 Td (and ) Tj ET Q q 0 0 0 rg BT 270.20 338.40 Td (quality ) Tj ET Q q 0 0 0 rg BT 294.61 338.40 Td (of ) Tj ET Q q 0 0 0 rg BT 302.99 338.40 Td (the ) Tj ET Q q 0 0 0 rg BT 315.71 338.40 Td (underlying ) Tj ET Q q 0 0 0 rg BT 353.54 338.40 Td (assets ) Tj ET Q q 0 0 0 rg BT 377.95 338.40 Td (being ) Tj ET Q q 0 0 0 rg BT 398.90 338.40 Td (financed ) Tj ET Q q 0 0 0 rg BT 430.24 338.40 Td (and ) Tj ET Q q 0 0 0 rg BT 445.13 338.40 Td (the ) Tj ET Q q 0 0 0 rg BT 457.85 338.40 Td (debt ) Tj ET Q q 0 0 0 rg BT 474.90 338.40 Td (market ) Tj ET Q q 0 0 0 rg BT 500.60 338.40 Td (parameters ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 327.00 Td (existing ) Tj ET Q q 0 0 0 rg BT 100.58 327.00 Td (at ) Tj ET Q q 0 0 0 rg BT 109.25 327.00 Td (the ) Tj ET Q q 0 0 0 rg BT 122.25 327.00 Td (time ) Tj ET Q q 0 0 0 rg BT 139.13 327.00 Td (will ) Tj ET Q q 0 0 0 rg BT 152.11 327.00 Td (af) Tj ET Q q 0 0 0 rg BT 158.48 327.00 Td (fect ) Tj ET Q q 0 0 0 rg BT 173.21 327.00 Td (the ) Tj ET Q q 0 0 0 rg BT 186.20 327.00 Td (success ) Tj ET Q q 0 0 0 rg BT 216.52 327.00 Td (of ) Tj ET Q q 0 0 0 rg BT 225.18 327.00 Td (this ) Tj ET Q q 0 0 0 rg BT 239.48 327.00 Td (strategy) Tj ET Q q 0 0 0 rg BT 266.62 327.00 Td (.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 309.60 Td (There ) Tj ET Q q 0 0 0 rg BT 94.25 309.60 Td (is ) Tj ET Q q 0 0 0 rg BT 101.79 309.60 Td (a ) Tj ET Q q 0 0 0 rg BT 108.02 309.60 Td (risk ) Tj ET Q q 0 0 0 rg BT 122.04 309.60 Td (that ) Tj ET Q q 0 0 0 rg BT 136.95 309.60 Td (lenders ) Tj ET Q q 0 0 0 rg BT 164.40 309.60 Td (will ) Tj ET Q q 0 0 0 rg BT 177.12 309.60 Td (not ) Tj ET Q q 0 0 0 rg BT 189.85 309.60 Td (refinance ) Tj ET Q q 0 0 0 rg BT 223.81 309.60 Td (maturing ) Tj ET Q q 0 0 0 rg BT 256.02 309.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 273.09 309.60 Td (on ) Tj ET Q q 0 0 0 rg BT 283.66 309.60 Td (terms ) Tj ET Q q 0 0 0 rg BT 305.04 309.60 Td (and ) Tj ET Q q 0 0 0 rg BT 319.94 309.60 Td (conditions ) Tj ET Q q 0 0 0 rg BT 356.93 309.60 Td (acceptable ) Tj ET Q q 0 0 0 rg BT 396.52 309.60 Td (to ) Tj ET Q q 0 0 0 rg BT 404.92 309.60 Td (the ) Tj ET Q q 0 0 0 rg BT 417.66 309.60 Td (REIT) Tj ET Q q 0 0 0 rg BT 435.27 309.60 Td ( ) Tj ET Q q 0 0 0 rg BT 437.17 309.60 Td (or ) Tj ET Q q 0 0 0 rg BT 446.00 309.60 Td (on ) Tj ET Q q 0 0 0 rg BT 456.57 309.60 Td (any ) Tj ET Q q 0 0 0 rg BT 471.04 309.60 Td (terms ) Tj ET Q q 0 0 0 rg BT 492.42 309.60 Td (at ) Tj ET Q q 0 0 0 rg BT 500.82 309.60 Td (all. ) Tj ET Q q 0 0 0 rg BT 512.57 309.60 Td (The ) Tj ET Q q 0 0 0 rg BT 527.90 309.60 Td (risk ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 298.20 Td (associated ) Tj ET Q q 0 0 0 rg BT 111.35 298.20 Td (with ) Tj ET Q q 0 0 0 rg BT 127.29 298.20 Td (the ) Tj ET Q q 0 0 0 rg BT 140.22 298.20 Td (refinancing ) Tj ET Q q 0 0 0 rg BT 180.43 298.20 Td (of ) Tj ET Q q 0 0 0 rg BT 189.03 298.20 Td (maturing ) Tj ET Q q 0 0 0 rg BT 221.43 298.20 Td (debt ) Tj ET Q q 0 0 0 rg BT 238.69 298.20 Td (is ) Tj ET Q q 0 0 0 rg BT 246.42 298.20 Td (mitigated ) Tj ET Q q 0 0 0 rg BT 280.13 298.20 Td (by ) Tj ET Q q 0 0 0 rg BT 290.45 298.20 Td (matching ) Tj ET Q q 0 0 0 rg BT 324.16 298.20 Td (debt ) Tj ET Q q 0 0 0 rg BT 341.42 298.20 Td (maturities ) Tj ET Q q 0 0 0 rg BT 377.29 298.20 Td (with ) Tj ET Q q 0 0 0 rg BT 393.24 298.20 Td (lease ) Tj ET Q q 0 0 0 rg BT 413.96 298.20 Td (renewals ) Tj ET Q q 0 0 0 rg BT 447.23 298.20 Td (to ) Tj ET Q q 0 0 0 rg BT 455.83 298.20 Td (optimize ) Tj ET Q q 0 0 0 rg BT 486.93 298.20 Td (the ) Tj ET Q q 0 0 0 rg BT 499.86 298.20 Td (value ) Tj ET Q q 0 0 0 rg BT 520.58 298.20 Td (of ) Tj ET Q q 0 0 0 rg BT 529.18 298.20 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 286.80 Td (assets ) Tj ET Q q 0 0 0 rg BT 96.97 286.80 Td (with ) Tj ET Q q 0 0 0 rg BT 113.26 286.80 Td (the ) Tj ET Q q 0 0 0 rg BT 126.54 286.80 Td (leverage ) Tj ET Q q 0 0 0 rg BT 158.87 286.80 Td (to ) Tj ET Q q 0 0 0 rg BT 167.81 286.80 Td (achieve ) Tj ET Q q 0 0 0 rg BT 197.11 286.80 Td (the ) Tj ET Q q 0 0 0 rg BT 210.39 286.80 Td (best ) Tj ET Q q 0 0 0 rg BT 227.57 286.80 Td (value ) Tj ET Q q 0 0 0 rg BT 248.64 286.80 Td (for ) Tj ET Q q 0 0 0 rg BT 260.17 286.80 Td (pricing. ) Tj ET Q q 0 0 0 rg BT 287.73 286.80 Td (In ) Tj ET Q q 0 0 0 rg BT 296.68 286.80 Td (addition, ) Tj ET Q q 0 0 0 rg BT 328.58 286.80 Td (the ) Tj ET Q q 0 0 0 rg BT 341.86 286.80 Td (REIT) Tj ET Q q 0 0 0 rg BT 359.47 286.80 Td ( ) Tj ET Q q 0 0 0 rg BT 361.91 286.80 Td (staggers ) Tj ET Q q 0 0 0 rg BT 394.24 286.80 Td (the ) Tj ET Q q 0 0 0 rg BT 407.52 286.80 Td (maturity ) Tj ET Q q 0 0 0 rg BT 437.67 286.80 Td (dates ) Tj ET Q q 0 0 0 rg BT 459.18 286.80 Td (of ) Tj ET Q q 0 0 0 rg BT 468.12 286.80 Td (the ) Tj ET Q q 0 0 0 rg BT 481.40 286.80 Td (REIT) Tj ET Q q 0 0 0 rg BT 500.74 286.80 Td (s ) Tj ET Q q 0 0 0 rg BT 507.08 286.80 Td (mortgage ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 275.40 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 101.88 275.40 Td (over ) Tj ET Q q 0 0 0 rg BT 119.21 275.40 Td (a ) Tj ET Q q 0 0 0 rg BT 125.70 275.40 Td (number ) Tj ET Q q 0 0 0 rg BT 154.28 275.40 Td (of ) Tj ET Q q 0 0 0 rg BT 162.95 275.40 Td (years. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 258.00 Td (The ) Tj ET Q q 0 0 0 rg BT 87.59 258.00 Td (following ) Tj ET Q q 0 0 0 rg BT 120.07 258.00 Td (table ) Tj ET Q q 0 0 0 rg BT 139.13 258.00 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 183.29 258.00 Td (the ) Tj ET Q q 0 0 0 rg BT 196.28 258.00 Td (estimated ) Tj ET Q q 0 0 0 rg BT 232.23 258.00 Td (contractual ) Tj ET Q q 0 0 0 rg BT 272.51 258.00 Td (maturities ) Tj ET Q q 0 0 0 rg BT 308.45 258.00 Td (of ) Tj ET Q q 0 0 0 rg BT 317.11 258.00 Td (the ) Tj ET Q q 0 0 0 rg BT 330.11 258.00 Td (REIT) Tj ET Q q 0 0 0 rg BT 349.45 258.00 Td (s ) Tj ET Q q 0 0 0 rg BT 355.51 258.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 386.26 258.00 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 417.87 258.00 Td (as ) Tj ET Q q 0 0 0 rg BT 428.27 258.00 Td (at ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 436.93 258.00 Td (March31, ) Tj ET Q q 0 0 0 rg BT 473.74 258.00 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 491.07 258.00 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 247.5 m 290.5 247.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 215.5 m 290.5 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 247.5 m 340.5 247.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 290.5 215.5 m 340.5 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 247.5 m 390.5 247.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 340.5 215.5 m 390.5 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 247.5 m 440.5 247.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 215.5 m 440.5 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 247.5 m 490.5 247.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 215.5 m 490.5 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 247.5 m 540.5 247.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 490.5 215.5 m 540.5 215.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 290.5 215.5 m 340.5 215.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 340.5 215.5 m 390.5 215.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 215.5 m 440.5 215.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 215.5 m 490.5 215.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 490.5 215.5 m 540.5 215.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 125.5 m 290.5 125.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 110.5 m 290.5 110.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 290.5 125.5 m 340.5 125.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 110.5 m 340.5 110.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 340.5 125.5 m 390.5 125.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 110.5 m 390.5 110.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390.5 125.5 m 440.5 125.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 110.5 m 440.5 110.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440.5 125.5 m 490.5 125.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 110.5 m 490.5 110.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 490.5 125.5 m 540.5 125.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 110.5 m 540.5 110.5 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 318.95 238.08 Td (Total) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 295.00 228.58 Td (contractual) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 301.45 219.08 Td (cash flow) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 346.70 229.53 Td (Remainder) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 360.15 220.03 Td (of 2016) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 399.70 220.03 Td (2017-2018) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 449.70 220.03 Td (2019-2020) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 498.90 220.03 Td (Thereafter) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 205.03 Td (Accounts payable and other liabilities) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 293.00 205.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 313.55 205.08 Td (23,715) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 343.00 205.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 363.55 205.03 Td (23,715) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 393.00 205.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 429.60 205.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 443.00 205.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 479.60 205.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 493.00 205.03 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 529.60 205.03 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 190.03 Td (Amortizing principal repayments on debt) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 313.55 190.08 Td (44,680) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 367.90 190.03 Td (2,541) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 417.90 190.03 Td (7,000) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 467.90 190.03 Td (7,094) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 190.03 Td (28,045) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 175.03 Td (Principal repayments on maturity of debt) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 309.20 175.03 Td (451,577) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 367.90 175.03 Td (1,510) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 409.20 175.03 Td (397,984) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 463.55 175.03 Td (10,376) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 175.03 Td (41,707) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 160.03 Td (Interest on debt) Tj ET Q BT /F2 9.50 Tf ET BT /F2 6.17 Tf ET q 0 0 0 rg BT 129.15 162.46 Td (\(1\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 313.55 160.08 Td (47,552) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 363.55 160.03 Td (11,661) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 413.55 160.03 Td (16,713) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 467.90 160.03 Td (6,575) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 160.03 Td (12,603) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 145.03 Td (Interest rate swaps) Tj ET Q BT /F2 9.50 Tf ET BT /F2 6.17 Tf ET q 0 0 0 rg BT 140.82 147.46 Td (\(2\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 317.90 145.03 Td (4,488) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 374.40 145.03 Td (493) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 417.90 145.03 Td (1,294) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 467.90 145.03 Td (1,202) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 145.03 Td (1,499) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 130.03 Td (Security deposits) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 317.90 130.03 Td (4,105) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 367.90 130.03 Td (1,221) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 424.40 130.03 Td (698) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 474.40 130.03 Td (669) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 517.90 130.03 Td (1,517) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 75.00 115.03 Td (Total) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 293.00 115.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 309.20 115.03 Td (576,117) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 343.00 115.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 363.55 115.03 Td (41,141) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 393.00 115.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 409.20 115.03 Td (423,689) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 443.00 115.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 463.55 115.03 Td (25,916) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 493.00 115.03 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 513.55 115.03 Td (85,371) Tj ET Q BT /F1 10.00 Tf ET BT /F2 7.50 Tf ET BT /F2 4.87 Tf ET q 0 0 0 rg BT 72.00 103.92 Td (\(1\)) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 76.88 102.00 Td ( ) Tj ET Q q 0 0 0 rg BT 78.59 102.00 Td (Interest ) Tj ET Q q 0 0 0 rg BT 100.82 102.00 Td (amounts ) Tj ET Q q 0 0 0 rg BT 126.12 102.00 Td (on ) Tj ET Q q 0 0 0 rg BT 134.67 102.00 Td (floating ) Tj ET Q q 0 0 0 rg BT 156.22 102.00 Td (debt ) Tj ET Q q 0 0 0 rg BT 169.90 102.00 Td (have ) Tj ET Q q 0 0 0 rg BT 184.95 102.00 Td (been ) Tj ET Q q 0 0 0 rg BT 200.34 102.00 Td (determined ) Tj ET Q q 0 0 0 rg BT 232.82 102.00 Td (using ) Tj ET Q q 0 0 0 rg BT 249.24 102.00 Td (floating ) Tj ET Q q 0 0 0 rg BT 270.78 102.00 Td (rates ) Tj ET Q q 0 0 0 rg BT 286.17 102.00 Td (at ) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 293.01 102.00 Td (March31, ) Tj ET Q q 0 0 0 rg BT 322.07 102.00 Td (2016) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 335.75 102.00 Td (. ) Tj ET Q BT /F2 7.50 Tf ET BT /F2 4.87 Tf ET q 0 0 0 rg BT 72.00 94.92 Td (\(2\)) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 76.88 93.00 Td ( ) Tj ET Q q 0 0 0 rg BT 78.59 93.00 Td (Interest ) Tj ET Q q 0 0 0 rg BT 100.82 93.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 113.13 93.00 Td (swap ) Tj ET Q q 0 0 0 rg BT 129.20 93.00 Td (obligations ) Tj ET Q q 0 0 0 rg BT 160.31 93.00 Td (have ) Tj ET Q q 0 0 0 rg BT 175.36 93.00 Td (been ) Tj ET Q q 0 0 0 rg BT 190.75 93.00 Td (calculated ) Tj ET Q q 0 0 0 rg BT 220.16 93.00 Td (as ) Tj ET Q q 0 0 0 rg BT 228.37 93.00 Td (the ) Tj ET Q q 0 0 0 rg BT 238.63 93.00 Td (dif) Tj ET Q q 0 0 0 rg BT 245.02 93.00 Td (ference ) Tj ET Q q 0 0 0 rg BT 267.25 93.00 Td (between ) Tj ET Q q 0 0 0 rg BT 292.21 93.00 Td (the ) Tj ET Q q 0 0 0 rg BT 302.47 93.00 Td (pay-fixed ) Tj ET Q q 0 0 0 rg BT 329.14 93.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 341.45 93.00 Td (and ) Tj ET Q q 0 0 0 rg BT 353.42 93.00 Td (receive-float ) Tj ET Q q 0 0 0 rg BT 388.63 93.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 400.94 93.00 Td (based ) Tj ET Q q 0 0 0 rg BT 419.41 93.00 Td (on ) Tj ET Q q 0 0 0 rg BT 427.96 93.00 Td (the ) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 438.22 93.00 Td (March31, ) Tj ET Q q 0 0 0 rg BT 467.28 93.00 Td (2016) Tj ET Q BT /F2 7.50 Tf ET q 0 0 0 rg BT 480.96 93.00 Td ( ) Tj ET Q q 0 0 0 rg BT 482.68 93.00 Td (floating ) Tj ET Q q 0 0 0 rg BT 504.22 93.00 Td (rate. ) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.25 42.95 Td (Page 20) Tj ET Q BT /F4 9.50 Tf ET q 0 0 0 rg BT 72.00 686.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 100.15 686.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 115.74 686.10 Td (risk) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 668.70 Td (Interest ) Tj ET Q q 0 0 0 rg BT 99.92 668.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 115.29 668.70 Td (risk ) Tj ET Q q 0 0 0 rg BT 129.34 668.70 Td (is ) Tj ET Q q 0 0 0 rg BT 136.91 668.70 Td (the ) Tj ET Q q 0 0 0 rg BT 149.68 668.70 Td (risk ) Tj ET Q q 0 0 0 rg BT 163.73 668.70 Td (that ) Tj ET Q q 0 0 0 rg BT 178.67 668.70 Td (changes ) Tj ET Q q 0 0 0 rg BT 210.06 668.70 Td (in ) Tj ET Q q 0 0 0 rg BT 218.06 668.70 Td (market ) Tj ET Q q 0 0 0 rg BT 243.81 668.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 271.30 668.70 Td (rates ) Tj ET Q q 0 0 0 rg BT 290.56 668.70 Td (may ) Tj ET Q q 0 0 0 rg BT 307.22 668.70 Td (have ) Tj ET Q q 0 0 0 rg BT 326.05 668.70 Td (an ) Tj ET Q q 0 0 0 rg BT 336.65 668.70 Td (ef) Tj ET Q q 0 0 0 rg BT 343.02 668.70 Td (fect ) Tj ET Q q 0 0 0 rg BT 357.52 668.70 Td (on ) Tj ET Q q 0 0 0 rg BT 368.12 668.70 Td (the ) Tj ET Q q 0 0 0 rg BT 380.89 668.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 399.28 668.70 Td (flows ) Tj ET Q q 0 0 0 rg BT 418.97 668.70 Td (or ) Tj ET Q q 0 0 0 rg BT 427.83 668.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 440.59 668.70 Td (values ) Tj ET Q q 0 0 0 rg BT 465.05 668.70 Td (of ) Tj ET Q q 0 0 0 rg BT 473.49 668.70 Td (the ) Tj ET Q q 0 0 0 rg BT 486.26 668.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 505.60 668.70 Td (s ) Tj ET Q q 0 0 0 rg BT 511.43 668.70 Td (financial ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 657.30 Td (instruments.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 639.90 Td (Interest ) Tj ET Q q 0 0 0 rg BT 100.62 639.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 116.68 639.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 135.78 639.90 Td (flow ) Tj ET Q q 0 0 0 rg BT 152.27 639.90 Td (risk ) Tj ET Q q 0 0 0 rg BT 167.02 639.90 Td (is ) Tj ET Q q 0 0 0 rg BT 175.28 639.90 Td (minimized ) Tj ET Q q 0 0 0 rg BT 212.98 639.90 Td (by ) Tj ET Q q 0 0 0 rg BT 223.85 639.90 Td (the ) Tj ET Q q 0 0 0 rg BT 237.32 639.90 Td (REIT) Tj ET Q q 0 0 0 rg BT 254.93 639.90 Td ( ) Tj ET Q q 0 0 0 rg BT 257.56 639.90 Td (by ) Tj ET Q q 0 0 0 rg BT 268.43 639.90 Td (having ) Tj ET Q q 0 0 0 rg BT 294.02 639.90 Td (a ) Tj ET Q q 0 0 0 rg BT 300.99 639.90 Td (portion ) Tj ET Q q 0 0 0 rg BT 327.45 639.90 Td (of ) Tj ET Q q 0 0 0 rg BT 336.58 639.90 Td (its ) Tj ET Q q 0 0 0 rg BT 347.01 639.90 Td (mortgages ) Tj ET Q q 0 0 0 rg BT 386.46 639.90 Td (on ) Tj ET Q q 0 0 0 rg BT 397.76 639.90 Td (fixed ) Tj ET Q q 0 0 0 rg BT 416.85 639.90 Td (term ) Tj ET Q q 0 0 0 rg BT 435.07 639.90 Td (arrangements. ) Tj ET Q q 0 0 0 rg BT 487.94 639.90 Td (In ) Tj ET Q q 0 0 0 rg BT 497.07 639.90 Td (addition, ) Tj ET Q q 0 0 0 rg BT 529.17 639.90 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 628.50 Td (maturity ) Tj ET Q q 0 0 0 rg BT 101.48 628.50 Td (dates ) Tj ET Q q 0 0 0 rg BT 122.32 628.50 Td (of ) Tj ET Q q 0 0 0 rg BT 130.59 628.50 Td (mortgages ) Tj ET Q q 0 0 0 rg BT 169.17 628.50 Td (are ) Tj ET Q q 0 0 0 rg BT 182.20 628.50 Td (staggered ) Tj ET Q q 0 0 0 rg BT 218.63 628.50 Td (over ) Tj ET Q q 0 0 0 rg BT 235.56 628.50 Td (a ) Tj ET Q q 0 0 0 rg BT 241.66 628.50 Td (number ) Tj ET Q q 0 0 0 rg BT 269.85 628.50 Td (of ) Tj ET Q q 0 0 0 rg BT 278.12 628.50 Td (years ) Tj ET Q q 0 0 0 rg BT 298.95 628.50 Td (to ) Tj ET Q q 0 0 0 rg BT 307.22 628.50 Td (mitigate ) Tj ET Q q 0 0 0 rg BT 336.28 628.50 Td (the ) Tj ET Q q 0 0 0 rg BT 348.88 628.50 Td (exposure ) Tj ET Q q 0 0 0 rg BT 382.71 628.50 Td (in ) Tj ET Q q 0 0 0 rg BT 390.54 628.50 Td (any ) Tj ET Q q 0 0 0 rg BT 404.88 628.50 Td (one ) Tj ET Q q 0 0 0 rg BT 419.65 628.50 Td (year) Tj ET Q q 0 0 0 rg BT 434.38 628.50 Td (. ) Tj ET Q q 0 0 0 rg BT 438.21 628.50 Td (The ) Tj ET Q q 0 0 0 rg BT 453.41 628.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 471.02 628.50 Td ( ) Tj ET Q q 0 0 0 rg BT 472.79 628.50 Td (also ) Tj ET Q q 0 0 0 rg BT 488.85 628.50 Td (utilizes ) Tj ET Q q 0 0 0 rg BT 514.44 628.50 Td (interest ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 617.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 87.59 617.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 111.84 617.10 Td (to ) Tj ET Q q 0 0 0 rg BT 120.50 617.10 Td (fix ) Tj ET Q q 0 0 0 rg BT 130.46 617.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 158.18 617.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 177.67 617.10 Td (on ) Tj ET Q q 0 0 0 rg BT 188.50 617.10 Td (a ) Tj ET Q q 0 0 0 rg BT 195.00 617.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 220.99 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 229.65 617.10 Td (its ) Tj ET Q q 0 0 0 rg BT 239.61 617.10 Td (floating ) Tj ET Q q 0 0 0 rg BT 266.90 617.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 282.49 617.10 Td (mortgages. ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 599.70 Td (As ) Tj ET Q q 0 0 0 rg BT 83.54 599.70 Td (at ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 92.50 599.70 Td (March31, ) Tj ET Q q 0 0 0 rg BT 129.59 599.70 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 146.92 599.70 Td (, ) Tj ET Q q 0 0 0 rg BT 151.54 599.70 Td (excluding ) Tj ET Q q 0 0 0 rg BT 186.91 599.70 Td (the ) Tj ET Q q 0 0 0 rg BT 200.19 599.70 Td (mortgages ) Tj ET Q q 0 0 0 rg BT 239.45 599.70 Td (associated ) Tj ET Q q 0 0 0 rg BT 279.15 599.70 Td (with ) Tj ET Q q 0 0 0 rg BT 295.46 599.70 Td (interest ) Tj ET Q q 0 0 0 rg BT 323.46 599.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 339.34 599.70 Td (swaps, ) Tj ET Q q 0 0 0 rg BT 366.04 599.70 Td (the ) Tj ET Q q 0 0 0 rg BT 379.32 599.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 396.93 599.70 Td ( ) Tj ET Q q 0 0 0 rg BT 399.38 599.70 Td (had ) Tj ET Q q 0 0 0 rg BT 414.83 599.70 Td (a ) Tj ET Q q 0 0 0 rg BT 421.61 599.70 Td (floating ) Tj ET Q q 0 0 0 rg BT 449.19 599.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 465.07 599.70 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 500.43 599.70 Td (and ) Tj ET Q q 0 0 0 rg BT 515.88 599.70 Td (debt ) Tj ET Q q 0 0 0 rg BT 533.50 599.70 Td (of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 588.30 Td ($395.9 ) Tj ET Q q 0 0 0 rg BT 97.91 588.30 Td (million) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 119.99 588.30 Td ( ) Tj ET Q q 0 0 0 rg BT 122.07 588.30 Td (\() Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 124.66 588.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 175.67 588.30 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 193.00 588.30 Td ( ) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 195.09 588.30 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 199.84 588.30 Td ( ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 201.92 588.30 Td ($397.4 ) Tj ET Q q 0 0 0 rg BT 227.83 588.30 Td (million) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 249.91 588.30 Td (\). ) Tj ET Q q 0 0 0 rg BT 256.62 588.30 Td (The ) Tj ET Q q 0 0 0 rg BT 272.13 588.30 Td (following ) Tj ET Q q 0 0 0 rg BT 304.52 588.30 Td (table ) Tj ET Q q 0 0 0 rg BT 323.49 588.30 Td (presents ) Tj ET Q q 0 0 0 rg BT 355.46 588.30 Td (the ) Tj ET Q q 0 0 0 rg BT 368.37 588.30 Td (impact ) Tj ET Q q 0 0 0 rg BT 393.40 588.30 Td (of ) Tj ET Q q 0 0 0 rg BT 401.98 588.30 Td (a ) Tj ET Q q 0 0 0 rg BT 408.40 588.30 Td (change ) Tj ET Q q 0 0 0 rg BT 436.04 588.30 Td (in ) Tj ET Q q 0 0 0 rg BT 444.18 588.30 Td (floating ) Tj ET Q q 0 0 0 rg BT 471.39 588.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 499.02 588.30 Td (rates ) Tj ET Q q 0 0 0 rg BT 518.43 588.30 Td (of ) Tj ET Q q 0 0 0 rg BT 527.01 588.30 Td (100 ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 576.90 Td (bps, ) Tj ET Q q 0 0 0 rg BT 88.89 576.90 Td (on ) Tj ET Q q 0 0 0 rg BT 99.73 576.90 Td (finance ) Tj ET Q q 0 0 0 rg BT 127.02 576.90 Td (costs. ) Tj ET Q q 0 0 0 rg BT 149.54 576.90 Td ( ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 545.4 m 164.5 545.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 164.5 545.4 m 306.5 545.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 545.4 m 399.5 545.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 545.4 m 469.5 545.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 545.4 m 539.5 545.4 l s BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 549.93 Td (Change of 100 bps) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 402.00 549.93 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 446.90 549.93 Td (3,959) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 472.00 549.93 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 516.90 549.93 Td (3,974) Tj ET Q BT /F1 10.00 Tf ET BT /F4 9.50 Tf ET q 0 0 0 rg BT 72.00 528.50 Td (Credit ) Tj ET Q q 0 0 0 rg BT 94.94 528.50 Td (risk) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 511.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 95.01 511.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 109.36 511.10 Td (is ) Tj ET Q q 0 0 0 rg BT 117.23 511.10 Td (the ) Tj ET Q q 0 0 0 rg BT 130.29 511.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 144.65 511.10 Td (that ) Tj ET Q q 0 0 0 rg BT 159.88 511.10 Td (the ) Tj ET Q q 0 0 0 rg BT 172.95 511.10 Td (REIT) Tj ET Q q 0 0 0 rg BT 190.56 511.10 Td ( ) Tj ET Q q 0 0 0 rg BT 192.79 511.10 Td (incurs ) Tj ET Q q 0 0 0 rg BT 215.81 511.10 Td (a ) Tj ET Q q 0 0 0 rg BT 222.38 511.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 238.47 511.10 Td (as ) Tj ET Q q 0 0 0 rg BT 248.93 511.10 Td (a ) Tj ET Q q 0 0 0 rg BT 255.50 511.10 Td (result ) Tj ET Q q 0 0 0 rg BT 276.79 511.10 Td (of ) Tj ET Q q 0 0 0 rg BT 285.52 511.10 Td (a ) Tj ET Q q 0 0 0 rg BT 292.09 511.10 Td (counterparty ) Tj ET Q q 0 0 0 rg BT 337.63 511.10 Td (not ) Tj ET Q q 0 0 0 rg BT 350.70 511.10 Td (fulfilling ) Tj ET Q q 0 0 0 rg BT 378.92 511.10 Td (its ) Tj ET Q q 0 0 0 rg BT 388.95 511.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 419.77 511.10 Td (obligation. ) Tj ET Q q 0 0 0 rg BT 457.52 511.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 480.53 511.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 494.88 511.10 Td (is ) Tj ET Q q 0 0 0 rg BT 502.75 511.10 Td (associated ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 499.70 Td (with ) Tj ET Q q 0 0 0 rg BT 88.03 499.70 Td (the ) Tj ET Q q 0 0 0 rg BT 101.04 499.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 120.38 499.70 Td (s ) Tj ET Q q 0 0 0 rg BT 126.46 499.70 Td (cash, ) Tj ET Q q 0 0 0 rg BT 147.26 499.70 Td (restricted ) Tj ET Q q 0 0 0 rg BT 181.48 499.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 200.12 499.70 Td (and ) Tj ET Q q 0 0 0 rg BT 215.29 499.70 Td (accounts ) Tj ET Q q 0 0 0 rg BT 248.66 499.70 Td (receivable. ) Tj ET Q q 0 0 0 rg BT 288.38 499.70 Td (The ) Tj ET Q q 0 0 0 rg BT 303.98 499.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 321.59 499.70 Td ( ) Tj ET Q q 0 0 0 rg BT 323.77 499.70 Td (controls ) Tj ET Q q 0 0 0 rg BT 353.23 499.70 Td (risks ) Tj ET Q q 0 0 0 rg BT 371.42 499.70 Td (by ) Tj ET Q q 0 0 0 rg BT 381.83 499.70 Td (avoiding ) Tj ET Q q 0 0 0 rg BT 413.03 499.70 Td (undue ) Tj ET Q q 0 0 0 rg BT 436.87 499.70 Td (concentration ) Tj ET Q q 0 0 0 rg BT 485.83 499.70 Td (of ) Tj ET Q q 0 0 0 rg BT 494.51 499.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 519.21 499.70 Td (in ) Tj ET Q q 0 0 0 rg BT 527.45 499.70 Td (any ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 488.30 Td (geographic ) Tj ET Q q 0 0 0 rg BT 112.40 488.30 Td (location, ) Tj ET Q q 0 0 0 rg BT 143.28 488.30 Td (in ) Tj ET Q q 0 0 0 rg BT 151.20 488.30 Td (any ) Tj ET Q q 0 0 0 rg BT 165.61 488.30 Td (industry ) Tj ET Q q 0 0 0 rg BT 194.75 488.30 Td (or ) Tj ET Q q 0 0 0 rg BT 203.53 488.30 Td (with ) Tj ET Q q 0 0 0 rg BT 219.24 488.30 Td (any ) Tj ET Q q 0 0 0 rg BT 233.66 488.30 Td (specific ) Tj ET Q q 0 0 0 rg BT 261.49 488.30 Td (tenants. ) Tj ET Q q 0 0 0 rg BT 290.96 488.30 Td (This ) Tj ET Q q 0 0 0 rg BT 307.53 488.30 Td (risk ) Tj ET Q q 0 0 0 rg BT 321.51 488.30 Td (is ) Tj ET Q q 0 0 0 rg BT 328.99 488.30 Td (further ) Tj ET Q q 0 0 0 rg BT 353.36 488.30 Td (mitigated ) Tj ET Q q 0 0 0 rg BT 386.83 488.30 Td (by ) Tj ET Q q 0 0 0 rg BT 396.92 488.30 Td (signing ) Tj ET Q q 0 0 0 rg BT 423.46 488.30 Td (long-term ) Tj ET Q q 0 0 0 rg BT 458.22 488.30 Td (leases ) Tj ET Q q 0 0 0 rg BT 482.59 488.30 Td (with ) Tj ET Q q 0 0 0 rg BT 498.30 488.30 Td (tenants ) Tj ET Q q 0 0 0 rg BT 525.72 488.30 Td (who ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 476.90 Td (have ) Tj ET Q q 0 0 0 rg BT 90.96 476.90 Td (investment-grade ) Tj ET Q q 0 0 0 rg BT 153.22 476.90 Td (credit ) Tj ET Q q 0 0 0 rg BT 174.34 476.90 Td (ratings ) Tj ET Q q 0 0 0 rg BT 199.80 476.90 Td (and ) Tj ET Q q 0 0 0 rg BT 214.86 476.90 Td (investing ) Tj ET Q q 0 0 0 rg BT 247.68 476.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 266.21 476.90 Td (and ) Tj ET Q q 0 0 0 rg BT 281.27 476.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 299.80 476.90 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 341.28 476.90 Td (in ) Tj ET Q q 0 0 0 rg BT 349.42 476.90 Td (large ) Tj ET Q q 0 0 0 rg BT 368.80 476.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 399.46 476.90 Td (institutions ) Tj ET Q q 0 0 0 rg BT 438.34 476.90 Td (with ) Tj ET Q q 0 0 0 rg BT 454.26 476.90 Td (strong ) Tj ET Q q 0 0 0 rg BT 477.98 476.90 Td (credit ) Tj ET Q q 0 0 0 rg BT 499.10 476.90 Td (ratings. ) Tj ET Q q 0 0 0 rg BT 526.59 476.90 Td (The ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 465.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 89.61 465.50 Td ( ) Tj ET Q q 0 0 0 rg BT 91.96 465.50 Td (has ) Tj ET Q q 0 0 0 rg BT 106.87 465.50 Td (credit ) Tj ET Q q 0 0 0 rg BT 128.27 465.50 Td (policies ) Tj ET Q q 0 0 0 rg BT 156.61 465.50 Td (to ) Tj ET Q q 0 0 0 rg BT 165.46 465.50 Td (address ) Tj ET Q q 0 0 0 rg BT 195.52 465.50 Td (credit ) Tj ET Q q 0 0 0 rg BT 216.93 465.50 Td (risk, ) Tj ET Q q 0 0 0 rg BT 233.56 465.50 Td (which ) Tj ET Q q 0 0 0 rg BT 255.82 465.50 Td (are ) Tj ET Q q 0 0 0 rg BT 269.43 465.50 Td (applied ) Tj ET Q q 0 0 0 rg BT 296.91 465.50 Td (during ) Tj ET Q q 0 0 0 rg BT 320.91 465.50 Td (lease ) Tj ET Q q 0 0 0 rg BT 341.89 465.50 Td (negotiations ) Tj ET Q q 0 0 0 rg BT 386.25 465.50 Td (and ) Tj ET Q q 0 0 0 rg BT 401.60 465.50 Td (may ) Tj ET Q q 0 0 0 rg BT 418.67 465.50 Td (include ) Tj ET Q q 0 0 0 rg BT 445.71 465.50 Td (the ) Tj ET Q q 0 0 0 rg BT 458.89 465.50 Td (analysis ) Tj ET Q q 0 0 0 rg BT 489.39 465.50 Td (of ) Tj ET Q q 0 0 0 rg BT 498.24 465.50 Td (the ) Tj ET Q q 0 0 0 rg BT 511.42 465.50 Td (financial ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 454.10 Td (position ) Tj ET Q q 0 0 0 rg BT 101.02 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 109.69 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 122.68 454.10 Td (debtor) Tj ET Q q 0 0 0 rg BT 144.35 454.10 Td (, ) Tj ET Q q 0 0 0 rg BT 148.68 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 163.84 454.10 Td (a ) Tj ET Q q 0 0 0 rg BT 170.34 454.10 Td (review ) Tj ET Q q 0 0 0 rg BT 195.02 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 203.68 454.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 224.90 454.10 Td (limits, ) Tj ET Q q 0 0 0 rg BT 246.98 454.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 268.20 454.10 Td (history ) Tj ET Q q 0 0 0 rg BT 293.31 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 308.48 454.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 329.69 454.10 Td (performance. ) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 436.70 Td (22. ) Tj ET Q q 0 0 0 rg BT 85.00 436.70 Td ( ) Tj ET Q q 0 0 0 rg BT 87.16 436.70 Td ( ) Tj ET Q q 0 0 0 rg BT 89.33 436.70 Td ( ) Tj ET Q q 0 0 0 rg BT 91.50 436.70 Td (Capital ) Tj ET Q q 0 0 0 rg BT 119.64 436.70 Td (management) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 419.30 Td (The ) Tj ET Q q 0 0 0 rg BT 87.75 419.30 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 113.20 419.30 Td (capital ) Tj ET Q q 0 0 0 rg BT 138.05 419.30 Td (management ) Tj ET Q q 0 0 0 rg BT 185.85 419.30 Td (objectives ) Tj ET Q q 0 0 0 rg BT 222.82 419.30 Td (are ) Tj ET Q q 0 0 0 rg BT 236.40 419.30 Td (to ) Tj ET Q q 0 0 0 rg BT 245.22 419.30 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 254.46 419.30 Td (ensure ) Tj ET Q q 0 0 0 rg BT 280.60 419.30 Td (compliance ) Tj ET Q q 0 0 0 rg BT 322.33 419.30 Td (with ) Tj ET Q q 0 0 0 rg BT 338.51 419.30 Td (the ) Tj ET Q q 0 0 0 rg BT 351.66 419.30 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 377.12 419.30 Td (Declaration ) Tj ET Q q 0 0 0 rg BT 418.84 419.30 Td (of ) Tj ET Q q 0 0 0 rg BT 427.52 419.30 Td (T) Tj ET Q q 0 0 0 rg BT 432.00 419.30 Td (rust ) Tj ET Q q 0 0 0 rg BT 447.31 419.30 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 458.28 419.30 Td (ensure ) Tj ET Q q 0 0 0 rg BT 484.42 419.30 Td (compliance ) Tj ET Q q 0 0 0 rg BT 526.15 419.30 Td (with ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 407.90 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 111.80 407.90 Td (in ) Tj ET Q q 0 0 0 rg BT 119.99 407.90 Td (debt ) Tj ET Q q 0 0 0 rg BT 137.29 407.90 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 182.73 407.90 Td (and ) Tj ET Q q 0 0 0 rg BT 197.86 407.90 Td (\(iii\) ) Tj ET Q q 0 0 0 rg BT 210.37 407.90 Td (provide ) Tj ET Q q 0 0 0 rg BT 238.05 407.90 Td (suf) Tj ET Q q 0 0 0 rg BT 248.31 407.90 Td (ficient ) Tj ET Q q 0 0 0 rg BT 270.80 407.90 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 298.91 407.90 Td (to ) Tj ET Q q 0 0 0 rg BT 307.54 407.90 Td (operate ) Tj ET Q q 0 0 0 rg BT 336.10 407.90 Td (the ) Tj ET Q q 0 0 0 rg BT 349.06 407.90 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 374.33 407.90 Td (properties, ) Tj ET Q q 0 0 0 rg BT 413.27 407.90 Td (fund ) Tj ET Q q 0 0 0 rg BT 430.56 407.90 Td (obligations ) Tj ET Q q 0 0 0 rg BT 469.94 407.90 Td (as ) Tj ET Q q 0 0 0 rg BT 480.31 407.90 Td (they ) Tj ET Q q 0 0 0 rg BT 497.17 407.90 Td (become ) Tj ET Q q 0 0 0 rg BT 527.01 407.90 Td (due ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 396.50 Td (and ) Tj ET Q q 0 0 0 rg BT 87.09 396.50 Td (build ) Tj ET Q q 0 0 0 rg BT 105.64 396.50 Td (unitholder ) Tj ET Q q 0 0 0 rg BT 141.95 396.50 Td (value. ) Tj ET Q q 0 0 0 rg BT 164.83 396.50 Td (Procedures ) Tj ET Q q 0 0 0 rg BT 206.76 396.50 Td (to ) Tj ET Q q 0 0 0 rg BT 215.35 396.50 Td (monitor ) Tj ET Q q 0 0 0 rg BT 243.42 396.50 Td (compliance ) Tj ET Q q 0 0 0 rg BT 284.92 396.50 Td (with ) Tj ET Q q 0 0 0 rg BT 300.87 396.50 Td (the ) Tj ET Q q 0 0 0 rg BT 313.79 396.50 Td (Declaration ) Tj ET Q q 0 0 0 rg BT 355.28 396.50 Td (of ) Tj ET Q q 0 0 0 rg BT 363.74 396.50 Td (T) Tj ET Q q 0 0 0 rg BT 368.22 396.50 Td (rust ) Tj ET Q q 0 0 0 rg BT 383.30 396.50 Td (and ) Tj ET Q q 0 0 0 rg BT 398.39 396.50 Td (debt ) Tj ET Q q 0 0 0 rg BT 415.65 396.50 Td (agreements ) Tj ET Q q 0 0 0 rg BT 458.88 396.50 Td (are ) Tj ET Q q 0 0 0 rg BT 472.23 396.50 Td (performed ) Tj ET Q q 0 0 0 rg BT 509.83 396.50 Td (as ) Tj ET Q q 0 0 0 rg BT 520.15 396.50 Td (a ) Tj ET Q q 0 0 0 rg BT 526.58 396.50 Td (part ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 385.10 Td (of ) Tj ET Q q 0 0 0 rg BT 80.58 385.10 Td (the ) Tj ET Q q 0 0 0 rg BT 93.50 385.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 118.53 385.10 Td (management ) Tj ET Q q 0 0 0 rg BT 166.09 385.10 Td (of ) Tj ET Q q 0 0 0 rg BT 174.68 385.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 213.14 385.10 Td (and ) Tj ET Q q 0 0 0 rg BT 228.23 385.10 Td (periodically ) Tj ET Q q 0 0 0 rg BT 269.28 385.10 Td (by ) Tj ET Q q 0 0 0 rg BT 279.60 385.10 Td (review ) Tj ET Q q 0 0 0 rg BT 304.19 385.10 Td (of ) Tj ET Q q 0 0 0 rg BT 312.77 385.10 Td (the ) Tj ET Q q 0 0 0 rg BT 325.69 385.10 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 350.91 385.10 Td (board ) Tj ET Q q 0 0 0 rg BT 372.91 385.10 Td (of ) Tj ET Q q 0 0 0 rg BT 381.50 385.10 Td (trustees ) Tj ET Q q 0 0 0 rg BT 411.30 385.10 Td (and ) Tj ET Q q 0 0 0 rg BT 426.38 385.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 459.21 385.10 Td (to ) Tj ET Q q 0 0 0 rg BT 467.80 385.10 Td (the ) Tj ET Q q 0 0 0 rg BT 480.71 385.10 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 505.93 385.10 Td (lender) Tj ET Q q 0 0 0 rg BT 527.16 385.10 Td (. ) Tj ET Q q 0 0 0 rg BT 531.41 385.10 Td ( ) Tj ET Q q 0 0 0 rg BT 533.50 385.10 Td (In ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 373.70 Td (order ) Tj ET Q q 0 0 0 rg BT 93.28 373.70 Td (to ) Tj ET Q q 0 0 0 rg BT 102.87 373.70 Td (maintain ) Tj ET Q q 0 0 0 rg BT 135.41 373.70 Td (or ) Tj ET Q q 0 0 0 rg BT 145.43 373.70 Td (adjust ) Tj ET Q q 0 0 0 rg BT 169.31 373.70 Td (the ) Tj ET Q q 0 0 0 rg BT 183.23 373.70 Td (capital ) Tj ET Q q 0 0 0 rg BT 208.85 373.70 Td (structure, ) Tj ET Q q 0 0 0 rg BT 244.42 373.70 Td (the ) Tj ET Q q 0 0 0 rg BT 258.34 373.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 275.95 373.70 Td ( ) Tj ET Q q 0 0 0 rg BT 279.04 373.70 Td (may ) Tj ET Q q 0 0 0 rg BT 296.85 373.70 Td (issue ) Tj ET Q q 0 0 0 rg BT 318.13 373.70 Td (trust ) Tj ET Q q 0 0 0 rg BT 336.38 373.70 Td (units, ) Tj ET Q q 0 0 0 rg BT 358.10 373.70 Td (debentures ) Tj ET Q q 0 0 0 rg BT 400.17 373.70 Td (or ) Tj ET Q q 0 0 0 rg BT 410.19 373.70 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 446.20 373.70 Td (debt; ) Tj ET Q q 0 0 0 rg BT 466.62 373.70 Td (adjust ) Tj ET Q q 0 0 0 rg BT 490.50 373.70 Td (the ) Tj ET Q q 0 0 0 rg BT 504.43 373.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 533.50 373.70 Td (of ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 362.30 Td (distributions ) Tj ET Q q 0 0 0 rg BT 115.74 362.30 Td (paid ) Tj ET Q q 0 0 0 rg BT 132.63 362.30 Td (to ) Tj ET Q q 0 0 0 rg BT 141.30 362.30 Td (unitholders, ) Tj ET Q q 0 0 0 rg BT 183.75 362.30 Td (return ) Tj ET Q q 0 0 0 rg BT 206.26 362.30 Td (capital ) Tj ET Q q 0 0 0 rg BT 230.95 362.30 Td (to ) Tj ET Q q 0 0 0 rg BT 239.62 362.30 Td (unitholders, ) Tj ET Q q 0 0 0 rg BT 282.06 362.30 Td (or ) Tj ET Q q 0 0 0 rg BT 291.15 362.30 Td (reduce ) Tj ET Q q 0 0 0 rg BT 317.14 362.30 Td (or ) Tj ET Q q 0 0 0 rg BT 326.23 362.30 Td (increase ) Tj ET Q q 0 0 0 rg BT 357.85 362.30 Td (debt.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 344.90 Td (The REIT) Tj ET Q q 0 0 0 rg BT 105.20 344.90 Td ( considers its debt and equity instruments to be its capital as follows: ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 334.4 m 380.5 334.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 319.4 m 380.5 319.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 334.4 m 395.5 334.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 319.4 m 395.5 319.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 334.4 m 460.5 334.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 319.4 m 460.5 319.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 334.4 m 475.5 334.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 460.5 319.4 m 475.5 319.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 334.4 m 540.5 334.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 319.4 m 540.5 319.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 319.4 m 460.5 319.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 460.5 319.4 m 475.5 319.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 319.4 m 540.5 319.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 72.5 274.4 m 380.5 274.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 72.5 259.4 m 380.5 259.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380.5 274.4 m 395.5 274.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 259.4 m 395.5 259.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395.5 274.4 m 460.5 274.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 259.4 m 460.5 259.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 460.5 274.4 m 475.5 274.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 259.4 m 475.5 259.4 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475.5 274.4 m 540.5 274.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 259.4 m 540.5 259.4 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 401.55 323.93 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 468.55 323.93 Td (December 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 308.93 Td (Debt) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 398.00 308.93 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 429.20 308.93 Td (493,496) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 478.00 308.93 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 308.93 Td (495,604) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 293.93 Td (Class B LP units) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 433.55 293.93 Td (41,700) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 513.55 293.93 Td (37,260) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 75.00 278.93 Td (Equity) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 429.20 278.93 Td (250,253) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 278.93 Td (252,157) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 398.00 263.93 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 429.20 263.93 Td (785,449) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 478.00 263.93 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.20 263.93 Td (785,021) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 242.50 Td (The ) Tj ET Q q 0 0 0 rg BT 87.93 242.50 Td (Declaration ) Tj ET Q q 0 0 0 rg BT 129.83 242.50 Td (of ) Tj ET Q q 0 0 0 rg BT 138.68 242.50 Td (T) Tj ET Q q 0 0 0 rg BT 143.16 242.50 Td (rust ) Tj ET Q q 0 0 0 rg BT 158.65 242.50 Td (provides ) Tj ET Q q 0 0 0 rg BT 190.60 242.50 Td (that ) Tj ET Q q 0 0 0 rg BT 206.10 242.50 Td (the ) Tj ET Q q 0 0 0 rg BT 219.44 242.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 237.05 242.50 Td ( ) Tj ET Q q 0 0 0 rg BT 239.55 242.50 Td (is ) Tj ET Q q 0 0 0 rg BT 247.68 242.50 Td (not ) Tj ET Q q 0 0 0 rg BT 261.02 242.50 Td (permitted ) Tj ET Q q 0 0 0 rg BT 296.00 242.50 Td (to ) Tj ET Q q 0 0 0 rg BT 305.00 242.50 Td (exceed ) Tj ET Q q 0 0 0 rg BT 332.63 242.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 363.72 242.50 Td (leverage ) Tj ET Q q 0 0 0 rg BT 396.10 242.50 Td (in ) Tj ET Q q 0 0 0 rg BT 404.67 242.50 Td (excess ) Tj ET Q q 0 0 0 rg BT 431.42 242.50 Td (of ) Tj ET Q q 0 0 0 rg BT 440.43 242.50 Td (65% ) Tj ET Q q 0 0 0 rg BT 458.52 242.50 Td (of ) Tj ET Q q 0 0 0 rg BT 467.53 242.50 Td (gross ) Tj ET Q q 0 0 0 rg BT 489.08 242.50 Td (book ) Tj ET Q q 0 0 0 rg BT 508.48 242.50 Td (value, ) Tj ET Q q 0 0 0 rg BT 531.77 242.50 Td (as ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 231.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 99.73 231.10 Td (by ) Tj ET Q q 0 0 0 rg BT 110.12 231.10 Td (the ) Tj ET Q q 0 0 0 rg BT 123.12 231.10 Td (Declaration ) Tj ET Q q 0 0 0 rg BT 164.69 231.10 Td (of ) Tj ET Q q 0 0 0 rg BT 173.22 231.10 Td (T) Tj ET Q q 0 0 0 rg BT 177.70 231.10 Td (rust, ) Tj ET Q q 0 0 0 rg BT 195.02 231.10 Td (and ) Tj ET Q q 0 0 0 rg BT 210.18 231.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 247.43 231.10 Td (as ) Tj ET Q q 0 0 0 rg BT 257.83 231.10 Td (follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 220.60000000000002 m 379.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 205.60000000000002 m 379.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 220.60000000000002 m 394.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379.5 205.60000000000002 m 394.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 220.60000000000002 m 459.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394.5 205.60000000000002 m 459.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 220.60000000000002 m 474.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 205.60000000000002 m 474.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 220.60000000000002 m 539.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 205.60000000000002 m 539.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394.5 205.60000000000002 m 459.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 205.60000000000002 m 474.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 205.60000000000002 m 539.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 175.60000000000002 m 379.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379.5 175.60000000000002 m 394.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394.5 175.60000000000002 m 459.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 175.60000000000002 m 474.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 175.60000000000002 m 539.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 71.5 145.60000000000002 m 379.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 71.5 130.60000000000002 m 379.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379.5 145.60000000000002 m 394.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 130.60000000000002 m 394.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394.5 145.60000000000002 m 459.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 130.60000000000002 m 459.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 459.5 145.60000000000002 m 474.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 130.60000000000002 m 474.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 474.5 145.60000000000002 m 539.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 130.60000000000002 m 539.5 130.60000000000002 l s BT /F3 9.50 Tf ET q 0 0 0 rg BT 400.55 210.13 Td (March 31, 2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 467.55 210.13 Td (December 31, 2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 195.13 Td (Total assets) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 397.00 195.13 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 423.85 195.13 Td (817,233) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 477.00 195.13 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 503.85 195.13 Td (812,995) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 180.13 Td (Less: restricted cash) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 429.95 180.13 Td (\(1,403) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 452.05 180.13 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 509.95 180.13 Td (\(1,403) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 532.05 180.13 Td (\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 165.13 Td (Gross book value) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 397.00 165.13 Td ($) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 423.85 165.13 Td (815,830) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 477.00 165.13 Td ($) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 503.85 165.13 Td (811,592) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 150.13 Td (Debt) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 423.85 150.13 Td (493,496) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 503.85 150.13 Td (495,604) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 74.00 135.13 Td (Leverage ratio) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 436.85 135.13 Td (60.5) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 452.05 135.13 Td (%) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 516.85 135.13 Td (61.1) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 532.05 135.13 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 113.70 Td (Additional ) Tj ET Q q 0 0 0 rg BT 107.65 113.70 Td (investment ) Tj ET Q q 0 0 0 rg BT 146.75 113.70 Td (and ) Tj ET Q q 0 0 0 rg BT 161.18 113.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 195.10 113.70 Td (guidelines ) Tj ET Q q 0 0 0 rg BT 231.61 113.70 Td (are ) Tj ET Q q 0 0 0 rg BT 244.30 113.70 Td (provided ) Tj ET Q q 0 0 0 rg BT 275.61 113.70 Td (for ) Tj ET Q q 0 0 0 rg BT 286.13 113.70 Td (by ) Tj ET Q q 0 0 0 rg BT 295.79 113.70 Td (the ) Tj ET Q q 0 0 0 rg BT 308.05 113.70 Td (Declaration ) Tj ET Q q 0 0 0 rg BT 348.89 113.70 Td (of ) Tj ET Q q 0 0 0 rg BT 356.73 113.70 Td (T) Tj ET Q q 0 0 0 rg BT 361.20 113.70 Td (rust. ) Tj ET Q q 0 0 0 rg BT 377.70 113.70 Td (The ) Tj ET Q q 0 0 0 rg BT 392.55 113.70 Td (REIT) Tj ET Q q 0 0 0 rg BT 410.16 113.70 Td ( ) Tj ET Q q 0 0 0 rg BT 411.59 113.70 Td (is ) Tj ET Q q 0 0 0 rg BT 418.65 113.70 Td (in ) Tj ET Q q 0 0 0 rg BT 426.14 113.70 Td (compliance ) Tj ET Q q 0 0 0 rg BT 466.98 113.70 Td (with ) Tj ET Q q 0 0 0 rg BT 482.26 113.70 Td (these ) Tj ET Q q 0 0 0 rg BT 502.75 113.70 Td (guidelines. ) Tj ET Q q 0 0 0 rg BT 542.17 113.70 Td ( ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 96.30 Td (The ) Tj ET Q q 0 0 0 rg BT 87.48 96.30 Td (REIT's ) Tj ET Q q 0 0 0 rg BT 112.67 96.30 Td (revolving ) Tj ET Q q 0 0 0 rg BT 145.91 96.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 180.45 96.30 Td (facility) Tj ET Q q 0 0 0 rg BT 201.53 96.30 Td (, ) Tj ET Q q 0 0 0 rg BT 205.76 96.30 Td (revolving ) Tj ET Q q 0 0 0 rg BT 239.00 96.30 Td (credit ) Tj ET Q q 0 0 0 rg BT 260.11 96.30 Td (facility ) Tj ET Q q 0 0 0 rg BT 283.81 96.30 Td (and ) Tj ET Q q 0 0 0 rg BT 298.87 96.30 Td (co-owned ) Tj ET Q q 0 0 0 rg BT 334.70 96.30 Td (properties ) Tj ET Q q 0 0 0 rg BT 371.40 96.30 Td (loan ) Tj ET Q q 0 0 0 rg BT 388.19 96.30 Td (are ) Tj ET Q q 0 0 0 rg BT 401.51 96.30 Td (subject ) Tj ET Q q 0 0 0 rg BT 428.25 96.30 Td (to ) Tj ET Q q 0 0 0 rg BT 436.81 96.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 467.45 96.30 Td (and ) Tj ET Q q 0 0 0 rg BT 482.51 96.30 Td (other ) Tj ET Q q 0 0 0 rg BT 502.33 96.30 Td (covenants, ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 84.90 Td (including ) Tj ET Q q 0 0 0 rg BT 103.89 84.90 Td (customary ) Tj ET Q q 0 0 0 rg BT 140.96 84.90 Td (maximum ) Tj ET Q q 0 0 0 rg BT 175.86 84.90 Td (leverage ) Tj ET Q q 0 0 0 rg BT 206.88 84.90 Td (ratios, ) Tj ET Q q 0 0 0 rg BT 229.24 84.90 Td (interest ) Tj ET Q q 0 0 0 rg BT 255.92 84.90 Td (service ) Tj ET Q q 0 0 0 rg BT 281.74 84.90 Td (coverage ) Tj ET Q q 0 0 0 rg BT 314.92 84.90 Td (ratios, ) Tj ET Q q 0 0 0 rg BT 337.28 84.90 Td (minimum ) Tj ET Q q 0 0 0 rg BT 370.01 84.90 Td (debt ) Tj ET Q q 0 0 0 rg BT 386.31 84.90 Td (service ) Tj ET Q q 0 0 0 rg BT 412.13 84.90 Td (coverage ) Tj ET Q q 0 0 0 rg BT 445.32 84.90 Td (ratios, ) Tj ET Q q 0 0 0 rg BT 467.67 84.90 Td (minimum ) Tj ET Q q 0 0 0 rg BT 500.40 84.90 Td (unitholders' ) Tj ET Q q 0 0 0 rg BT 542.18 84.90 Td ( ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 73.50 Td (equity ) Tj ET Q q 0 0 0 rg BT 94.96 73.50 Td (among ) Tj ET Q q 0 0 0 rg BT 120.94 73.50 Td (others. ) Tj ET Q q 0 0 0 rg BT 146.80 73.50 Td (The ) Tj ET Q q 0 0 0 rg BT 162.39 73.50 Td (REIT) Tj ET Q q 0 0 0 rg BT 180.00 73.50 Td ( ) Tj ET Q q 0 0 0 rg BT 182.16 73.50 Td (is ) Tj ET Q q 0 0 0 rg BT 189.96 73.50 Td (in ) Tj ET Q q 0 0 0 rg BT 198.19 73.50 Td (compliance ) Tj ET Q q 0 0 0 rg BT 239.76 73.50 Td (with ) Tj ET Q q 0 0 0 rg BT 255.78 73.50 Td (these ) Tj ET Q q 0 0 0 rg BT 277.00 73.50 Td (covenants. ) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 769.35 Td (SLA) Tj ET Q q 0 0 0 rg BT 94.61 769.35 Td (TE OFFICE REIT) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 72.50 752.55 Td (NOTES T) Tj ET Q q 0 0 0 rg BT 122.05 752.55 Td (O THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 304.88 752.55 Td (TED INTERIM FINANCIAL) Tj ET Q q 0 0 0 rg BT 443.05 752.55 Td ( ST) Tj ET Q q 0 0 0 rg BT 460.07 752.55 Td (A) Tj ET Q q 0 0 0 rg BT 467.51 752.55 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 740.55 Td (\(all tabular amounts are express in thousands of Canadian dollars, unless otherwise noted\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.50 728.55 Td (\(unaudited\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.25 42.95 Td (Page 21) Tj ET Q BT /F3 9.50 Tf ET q 0 0 0 rg BT 72.00 686.10 Td (23. ) Tj ET Q q 0 0 0 rg BT 85.00 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 87.16 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.33 686.10 Td ( ) Tj ET Q q 0 0 0 rg BT 91.50 686.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 120.94 686.10 Td (taxes) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 668.70 Td (The ) Tj ET Q q 0 0 0 rg BT 87.79 668.70 Td (Income ) Tj ET Q q 0 0 0 rg BT 115.57 668.70 Td (T) Tj ET Q q 0 0 0 rg BT 119.46 668.70 Td (ax ) Tj ET Q q 0 0 0 rg BT 130.06 668.70 Td ( ) Tj ET Q q 0 0 0 rg BT 131.96 668.70 Td (Act ) Tj ET Q q 0 0 0 rg BT 145.59 668.70 Td (\(Canada\) ) Tj ET Q q 0 0 0 rg BT 180.43 668.70 Td (contains ) Tj ET Q q 0 0 0 rg BT 211.82 668.70 Td (legislation ) Tj ET Q q 0 0 0 rg BT 248.84 668.70 Td (af) Tj ET Q q 0 0 0 rg BT 255.20 668.70 Td (fecting ) Tj ET Q q 0 0 0 rg BT 280.53 668.70 Td (the ) Tj ET Q q 0 0 0 rg BT 293.73 668.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 306.50 668.70 Td (treatment ) Tj ET Q q 0 0 0 rg BT 341.78 668.70 Td (of ) Tj ET Q q 0 0 0 rg BT 350.65 668.70 Td (specified ) Tj ET Q q 0 0 0 rg BT 383.77 668.70 Td (investment ) Tj ET Q q 0 0 0 rg BT 423.81 668.70 Td (flow-through ) Tj ET Q q 0 0 0 rg BT 469.05 668.70 Td (\(SIFT\) ) Tj ET Q q 0 0 0 rg BT 498.67 668.70 Td (trusts ) Tj ET Q q 0 0 0 rg BT 520.10 668.70 Td (which ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 657.30 Td (include ) Tj ET Q q 0 0 0 rg BT 99.65 657.30 Td (publicly-listed ) Tj ET Q q 0 0 0 rg BT 149.37 657.30 Td (income ) Tj ET Q q 0 0 0 rg BT 177.44 657.30 Td (trusts ) Tj ET Q q 0 0 0 rg BT 199.45 657.30 Td (\(the ) Tj ET Q q 0 0 0 rg BT 215.83 657.30 Td (SIFT) Tj ET Q q 0 0 0 rg BT 235.17 657.30 Td ( ) Tj ET Q q 0 0 0 rg BT 238.13 657.30 Td (Rules\). ) Tj ET Q q 0 0 0 rg BT 268.35 657.30 Td (Under ) Tj ET Q q 0 0 0 rg BT 292.53 657.30 Td (the ) Tj ET Q q 0 0 0 rg BT 306.32 657.30 Td (SIFT) Tj ET Q q 0 0 0 rg BT 323.06 657.30 Td ( ) Tj ET Q q 0 0 0 rg BT 326.02 657.30 Td (Rules, ) Tj ET Q q 0 0 0 rg BT 351.06 657.30 Td (certain ) Tj ET Q q 0 0 0 rg BT 377.40 657.30 Td (distributions ) Tj ET Q q 0 0 0 rg BT 421.93 657.30 Td (from ) Tj ET Q q 0 0 0 rg BT 440.47 657.30 Td (a ) Tj ET Q q 0 0 0 rg BT 447.76 657.30 Td (SIFT) Tj ET Q q 0 0 0 rg BT 464.51 657.30 Td ( ) Tj ET Q q 0 0 0 rg BT 467.47 657.30 Td (are ) Tj ET Q q 0 0 0 rg BT 481.68 657.30 Td (not ) Tj ET Q q 0 0 0 rg BT 495.47 657.30 Td (deductible ) Tj ET Q q 0 0 0 rg BT 533.95 657.30 Td (in ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 645.90 Td (computing ) Tj ET Q q 0 0 0 rg BT 110.55 645.90 Td (a ) Tj ET Q q 0 0 0 rg BT 117.48 645.90 Td (SIFT) Tj ET Q q 0 0 0 rg BT 135.96 645.90 Td (s ) Tj ET Q q 0 0 0 rg BT 142.46 645.90 Td (taxable ) Tj ET Q q 0 0 0 rg BT 170.18 645.90 Td (income, ) Tj ET Q q 0 0 0 rg BT 200.07 645.90 Td (and ) Tj ET Q q 0 0 0 rg BT 215.67 645.90 Td (the ) Tj ET Q q 0 0 0 rg BT 229.10 645.90 Td (SIFT) Tj ET Q q 0 0 0 rg BT 245.85 645.90 Td ( ) Tj ET Q q 0 0 0 rg BT 248.45 645.90 Td (is ) Tj ET Q q 0 0 0 rg BT 256.68 645.90 Td (subject ) Tj ET Q q 0 0 0 rg BT 283.97 645.90 Td (to ) Tj ET Q q 0 0 0 rg BT 293.07 645.90 Td (tax ) Tj ET Q q 0 0 0 rg BT 306.07 645.90 Td (on ) Tj ET Q q 0 0 0 rg BT 317.34 645.90 Td (such ) Tj ET Q q 0 0 0 rg BT 336.40 645.90 Td (distributions ) Tj ET Q q 0 0 0 rg BT 380.57 645.90 Td (at ) Tj ET Q q 0 0 0 rg BT 389.68 645.90 Td (a ) Tj ET Q q 0 0 0 rg BT 396.61 645.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 412.64 645.90 Td (that ) Tj ET Q q 0 0 0 rg BT 428.24 645.90 Td (is ) Tj ET Q q 0 0 0 rg BT 436.47 645.90 Td (substantially ) Tj ET Q q 0 0 0 rg BT 481.95 645.90 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 520.07 645.90 Td (to ) Tj ET Q q 0 0 0 rg BT 529.17 645.90 Td (the ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 634.50 Td (general ) Tj ET Q q 0 0 0 rg BT 99.88 634.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 112.18 634.50 Td (rate ) Tj ET Q q 0 0 0 rg BT 127.50 634.50 Td (applicable ) Tj ET Q q 0 0 0 rg BT 164.48 634.50 Td (to ) Tj ET Q q 0 0 0 rg BT 172.87 634.50 Td (a ) Tj ET Q q 0 0 0 rg BT 179.10 634.50 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 214.35 634.50 Td (corporation. ) Tj ET Q q 0 0 0 rg BT 257.39 634.50 Td (However) Tj ET Q q 0 0 0 rg BT 287.69 634.50 Td (, ) Tj ET Q q 0 0 0 rg BT 291.75 634.50 Td (distributions ) Tj ET Q q 0 0 0 rg BT 335.22 634.50 Td (paid ) Tj ET Q q 0 0 0 rg BT 351.85 634.50 Td (by ) Tj ET Q q 0 0 0 rg BT 361.98 634.50 Td (a ) Tj ET Q q 0 0 0 rg BT 368.21 634.50 Td (SIFT) Tj ET Q q 0 0 0 rg BT 384.95 634.50 Td ( ) Tj ET Q q 0 0 0 rg BT 386.85 634.50 Td (as ) Tj ET Q q 0 0 0 rg BT 396.97 634.50 Td (returns ) Tj ET Q q 0 0 0 rg BT 423.12 634.50 Td (of ) Tj ET Q q 0 0 0 rg BT 431.51 634.50 Td (capital ) Tj ET Q q 0 0 0 rg BT 455.93 634.50 Td (are ) Tj ET Q q 0 0 0 rg BT 469.09 634.50 Td (generally ) Tj ET Q q 0 0 0 rg BT 502.60 634.50 Td (not ) Tj ET Q q 0 0 0 rg BT 515.33 634.50 Td (subject ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 623.10 Td (to ) Tj ET Q q 0 0 0 rg BT 80.67 623.10 Td (tax.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 605.70 Td (The ) Tj ET Q q 0 0 0 rg BT 88.10 605.70 Td (SIFT) Tj ET Q q 0 0 0 rg BT 104.84 605.70 Td ( ) Tj ET Q q 0 0 0 rg BT 107.52 605.70 Td (Rules ) Tj ET Q q 0 0 0 rg BT 130.10 605.70 Td (do ) Tj ET Q q 0 0 0 rg BT 141.44 605.70 Td (not ) Tj ET Q q 0 0 0 rg BT 154.94 605.70 Td (apply ) Tj ET Q q 0 0 0 rg BT 176.24 605.70 Td (to ) Tj ET Q q 0 0 0 rg BT 185.41 605.70 Td (a ) Tj ET Q q 0 0 0 rg BT 192.42 605.70 Td (real ) Tj ET Q q 0 0 0 rg BT 208.08 605.70 Td (estate ) Tj ET Q q 0 0 0 rg BT 231.98 605.70 Td (investment ) Tj ET Q q 0 0 0 rg BT 272.33 605.70 Td (trust ) Tj ET Q q 0 0 0 rg BT 290.15 605.70 Td (that ) Tj ET Q q 0 0 0 rg BT 305.82 605.70 Td (meets ) Tj ET Q q 0 0 0 rg BT 329.71 605.70 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 368.76 605.70 Td (conditions ) Tj ET Q q 0 0 0 rg BT 406.51 605.70 Td (relating ) Tj ET Q q 0 0 0 rg BT 434.74 605.70 Td (to ) Tj ET Q q 0 0 0 rg BT 443.91 605.70 Td (the ) Tj ET Q q 0 0 0 rg BT 457.41 605.70 Td (nature ) Tj ET Q q 0 0 0 rg BT 482.17 605.70 Td (of ) Tj ET Q q 0 0 0 rg BT 491.35 605.70 Td (its ) Tj ET Q q 0 0 0 rg BT 501.81 605.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 527.00 605.70 Td (and ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 72.00 594.30 Td (revenue ) Tj ET Q q 0 0 0 rg BT 102.97 594.30 Td (\(the ) Tj ET Q q 0 0 0 rg BT 119.22 594.30 Td (REIT) Tj ET Q q 0 0 0 rg BT 139.42 594.30 Td ( ) Tj ET Q q 0 0 0 rg BT 142.24 594.30 Td (Conditions\). ) Tj ET Q q 0 0 0 rg BT 189.23 594.30 Td (Instead, ) Tj ET Q q 0 0 0 rg BT 219.77 594.30 Td (a ) Tj ET Q q 0 0 0 rg BT 226.93 594.30 Td (real ) Tj ET Q q 0 0 0 rg BT 242.74 594.30 Td (estate ) Tj ET Q q 0 0 0 rg BT 266.79 594.30 Td (investment ) Tj ET Q q 0 0 0 rg BT 307.28 594.30 Td (trust ) Tj ET Q q 0 0 0 rg BT 325.26 594.30 Td (that ) Tj ET Q q 0 0 0 rg BT 341.08 594.30 Td (meets ) Tj ET Q q 0 0 0 rg BT 365.12 594.30 Td (the ) Tj ET Q q 0 0 0 rg BT 378.77 594.30 Td (REIT) Tj ET Q q 0 0 0 rg BT 396.38 594.30 Td ( ) Tj ET Q q 0 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