March 6, 2014 - Management Investor Presentation - YE 2013

RIOCAN INVESTOR PRESENTATION
Fourth Quarter and Year End 2013
March 6, 2014
TRANSFORMING…

Forward Looking Statements
2
Certain information included in this presentation contains forward-looking statements within the
meaning of applicable securities laws including, among others, statements concerning our objectives,
our strategies to achieve those objectives, as well as statements with respect to management's beliefs,
plans, estimates, and intentions, and similar statements concerning anticipated future events, results,
circumstances, performance or expectations that are not historical facts. Certain material factors,
estimates or assumptions were applied in drawing a conclusion or making a forecast or projection as
reflected in these statements and actual results could differ materially from such conclusions, forecasts
or projections.
Additional information on the material risks that could cause our actual results to differ materially from
the conclusions, forecast or projections in these statements and the material factors, estimates or
assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in
the forward-looking information can be found in our annual information form and annual report that
are available on our website and at www.sedar.com.
Except as required by applicable law, RioCan undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future events or otherwise.

One of North America’s Largest Retail REITS
3
340
retail properties
in Canada & U.S.
82 million
sqft total portfolio
$7.5 billion
market cap
54 million
sqft owned
$13.8 billion
enterprise value
~86%
revenue generated by
national and anchor
tenants
~7,600
tenancies

Core Strengths
4
Strong, reliable distribution yield provided to investors
Stable, diversified portfolio of national retail tenants
Disciplined growth strategy in Canada and U.S.
Positioned to benefit from robust acquisition activity and development pipeline
Experienced, performance driven management team
Dominant platform, geographically diversified
Conservative balance sheet / financial strength

QC
PA
VA
Property Portfolio
5As at December 31, 2013 at RioCan’s interest
CT
MA
BC
AB
ON
QCSA
MB
NB
NFLD
293
retail properties
44 million sqft
85%
annualized rental
revenue
TX
GTA
47
retail properties
9.9 million sqft
15%
annualized rental
revenue

Property Portfolio – Canada
6
Calgary
Edmonton
Vancouver
Toronto
MontrealOttawa
BC
AB
ON
QC
Annualized Rental Revenue by Major Market
8.7%
Major
markets
combined,
71.7%
Rest of
Canada,
28.3%
6.1%
3.8%
4.0%
7.2%
41.9%

PA
VA
Property Portfolio – U.S.
7
RICT
NH
MA
TX
Regional Market Strategy & Focus
Annualized Rental Revenue by State
NY
MD
NJ
WV
54.4%
2.6%
1.8%
6.7%
2.2%
0.7%
3.2%
2.2%
21.1%
2.5%
2.2%
47retail properties
9.9 million sqft
As at December 31, 2013 at RioCan’s interest

Strong Tenant Relationships
9
Top 10 Canada & US Combined
Top 10 Tenant Name
Annualized
Rental
Revenue
Number Of
Locations
Total Area
Occupied
(Sq. Ft. In
000s)
Weighted Avg
Remaining
Lease Term
(Yrs)
1 Walmart 3.7% 32 3,915 12.8
2 Canadian Tire Corporation (i) 3.4% 91 1,984 8.6
3 Cineplex/Galaxy Cinemas 3.2% 30 1,388 10.2
4 Metro/Super C/Loeb/Food Basics 3.2% 57 2,100 7.1
5 Winners/HomeSense/Marshalls 2.6% 72 1,612 7.1
6 Loblaws/No Frills/Fortinos/Zehrs/Maxi (ii) 2.5% 32 1,438 7.4
7 Target Corporation 1.8% 25 2,076 8.4
8 Staples/Business Depot 1.7% 51 1,009 5.9
9 Shoppers Drug Mart 1.6% 51 554 8.7
10 Cara/Prime Restaurants
1.6% 113 476 7.2
(i) Canadian Tire Corporation includes Canadian Tire/PartSource/Mark's Work Wearhouse/Sport Mart/Sport Chek/Sports Experts/National Sports/Atmosphere
(ii) Lowblaws has entered into an agreement to purchase Shoppers Drug Mart, that when completed will make Loblaws RioCan’s largest tenant by gross revenue.
As at December 31, 2013

Strong Tenant Relationships
10
Top 10 U.S.
Top
10
Tenant Name
Annualized
Rental
Revenue
Number Of
Locations
Total Area
Occupied
(Sq. Ft. In
000s)
Weighted
Avg
Remaining
Lease Term
(Yrs)
1 Giant Food Stores/ Stop & Shop (Royal Ahold) 10.1% 22 1,113 12.1
2 Best Buy 3.8% 11 359 6.6
3 PetSmart 2.8% 13 281 4.9
4 Walmart 2.6% 5 880 15.0
5 Michael’s 2.6% 14 291 5.4
6 Ross Dress for Less 2.0% 9 266 5.2
7 Office Depot / Max 2.0% 11 215 5.3
8 Bed Bath & Beyond 1.7% 9 237 6.4
9 Lowes 1.5% 3 476 13.8
10 Kohls 1.3% 4 338 11.8

Lease Rollover Profile
Broadly Distributed Lease Expiries
11
4,395 4,108
4,752
3,568
4,592
2014 2015 2016 2017 2018
700
482 494
732
1,146
2014 2015 2016 2017 2018
% Square Feet expiring / portfolio NLA
Canadian Portfolio
U.S. Portfolio
’000s Square Feet
’000s Square Feet
11.2% 10.4% 12.1% 9.1% 11.7%
7.1% 4.9% 5.0%
7.4%
11.6%

Occupancy since 1996
Historical Occupancy Rates 1996 to 2013
12
96.9%
95.0% 95.0%
95.4%
96.1%
95.6% 95.8%
96.3% 96.3%
97.1%
97.7% 97.6%
96.9%
97.4% 97.4%
97.6% 97.4%
96.9%
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Financial Highlights
Q4 & 2013

(at RioCan’s interest in millions of $ except per unit amounts)
Revenues
758
882
988
1,114
1,195
2009 2010 2011 2012 2013
Operating FFO*
280
329
380
440
492
2009 2010 2011 2012 2013
Operating FFO* Per Unit
1.22
1.33
1.43
1.52
1.63
2009 2010 2011 2012 2013
14
Years ended December 31st
* Note: FFO reported under IFRS for 2010 onwards,
excludes trading gain income
15% CAGR
7.5% CAGR
12% CAGR

Quarterly Financial Highlights
(in millions of $ except per
unit amounts)
Revenues*
237 237
246
267 274 269 271
285
306
292
283
300
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Operating FFO
90 93 97 100 103 106
115 116
124 121 124 124
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Operating FFO Per Unit
0.35
0.36
0.37
0.36
0.37 0.37
0.40
0.39
0.41
0.40
0.41 0.41
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
15
2011 2012
2011 2012
2011 2012
2013
* At RioCan’s interest
2013
2013

(in millions of $)
466
551
622
704
758
2009 2010 2011 2012 2013
Net Operating Income* Q1 2011 – Q4 2013
148
151
156
167
171 172
182
187 186 187 188
196
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Net Operating Income* 2009 –2013
16
2011 2012
2013

(in millions)
Distributions to Unitholders
228
261 281 285 293 316
297
318 343
367
401
426
2008 2009 2010 2011 2012 2013
0.99 1.04
1.13 1.14 1.07 1.01 1.04
1.32751.36 1.38 1.38 1.38 1.38 1.41
2007 2008 2009 2010 2011 2012 2013*
Distributions to Unitholders per Unit
17
Distributions to Unitholders net of DRIP Distributions per Unit net of DRIP

$ per unit Payout Ratio
% Change 2013 2012 2013 2012
Distribution 2.2% 1.41 1.38 n/a n/a
FFO 6.1% 1.56 1.47 90.4% 93.9%
OFFO 7.2% 1.63 1.52 86.5% 91.8%
AFFO 6.5% 1.48 1.39 95.3% 99.3%
Canada United States
2013 2012 2013 2012
Same Store NOI Growth 1.7% 0.9% 1.7% 0.5%
Same Property NOI Growth 1.3% 1.0% 1.7% 0.5%
18

• During 2013, RioCan consolidated its ownership of virtually all of the US properties that were
previously owned through joint venture arrangements. RioCan has opened regional offices in Mount
Laurel, New Jersey and Dallas, Texas which are supported by RioCan’s headquarters in Toronto,
Canada, to manage RioCan’s American portfolio;
• On January 29, 2014, RioCan and its partners, Allied Properties REIT and Diamond Corporation,
announced The Well. This mixed use development project, located at the corner of Front Street and
Spadina Avenue in close proximity to downtown Toronto on a 7.7 acre site, is expected to comprise
of up to 3.2 million square feet of retail, office and residential properties;
• As at December 31, 2013, RioCan had ownership interests in 16 properties under development that
will, upon completion, comprise approximately 5 million square feet at RioCan’s interest;
• For the year, RioCan acquired interests in 32 income properties in Canada and the US aggregating to
3.0 million square feet at an aggregate purchase price of approximately $849 million at RioCan’s
interest at a weighted average capitalization rate of 5.7%;
19

• For the year, RioCan completed the sale of 18 properties with a total net leaseable area of
approximately 3.3 million square feet. In Canada, RioCan sold 13 properties at a total sale price of $616
million at a weighted average capitalization rate of 5.9%. The total debt associated with these assets
was $160 million. In the US, RioCan sold five properties as part of its US joint venture dissolutions at a
total sale price of US$103 million at a weighted average capitalization rate of 6.8%. The total debt
associated with these assets was $54 million;
• RioCan renewed 3.9 million square feet in the Canadian portfolio during the twelve months ended
December 31, 2013 at an average rent increase of $1.80 per square foot, representing an increase of
11.0%. The renewal retention rate in Canada and the US for the quarter was 97.0% and 98.2%
respectively;
• During 2013, RioCan completed the offering of two series of debentures, $250 million Series S which
carries a coupon of 2.87% and matures March 2018 as well as $200 million Series T, which carries a
coupon of 3.73% and matures April 2023. Subsequent to the year end, RioCan completed the offering of
$150 million Series U debentures, which carry a coupon of 3.62% and mature June 2020; and
• In the fourth quarter of 2013 and to date, RioCan renegotiated the terms of its operating lines by
increasing the capacity of the facilities, extending the maturity dates, and reducing the interest rate
spreads associated with these facilities.
20

Financial Information
(millions of dollars, except where otherwise noted, for definitions see RioCan’s Q4 MD&A) % Change
2013/2012
For the Year Ended Dec. 31,
2013 2012 2011**
Total revenue - Consolidated 7.4% 1,152 1,073 988
Total revenue - RioCan's interest 7.3% 1,195 1,114 n/a*
Adjusted EBITDA 6.6% 748 702 625
FFO 10.3% 471 427 371
FFO per Unit 6.1% 1.56 1.47 1.40
Operating FFO 11.8% 492 440 380
Operating FFO per Unit 7.2% 1.63 1.52 1.43
AFFO 11.2% 447 402 342
AFFO per Unit 6.5% 1.48 1.39 1.29
Distributions as a percentage of AFFO -4.0% 95.3% 99.3% 107.0%
Weighted average common Units outstanding - basic (in thousands) 4.3% 302,324 289,950 265,583
Distributions to common Unit holders 6.2% 426 401 367
Distributions to common Unitholders per Unit 2.2% 1.41 1.38 1.38
Distributions per common Unit (annualized) 2.2% 1.41 1.38 1.38
Distributions to common Unitholders net of distribution reinvestment plan 7.8% 316 293 285
Distributions to common Unitholders net of distribution reinvestment plan per Unit (last twelve
months) 3.0% 1.04 1.01 1.07
Common Unit issue proceeds under distribution reinvestment plan 1.9% 110 108 82
Distribution reinvestment plan (DRIP) participation rate -4.1% 25.8% 26.9% 22.3%
21
* Calculation at RioCan’s interest was not performed for the year ended December 31, 2011

Financial Information
(millions of dollars, except where otherwise noted, for definitions see RioCan’s Q4 MD&A) December 31,
As at 2013 2012 2011
Total enterprise value 13,794 14,274 12,437
Total assets – Consolidated 13,530 12,619 10,484
Total assets - RioCan's interest 13,554 12,888 n/a*
Debt** – Consolidated 5,959 5,451 4,781
Debt** – RioCan's interest 5,988 5,717 n/a*
Debt to total assets (net of cash) - Consolidated 43.90% 42.40% 45.40%
Debt to total assets (net of cash) - RioCan's interest 44.00% 43.60% n/a*
Debt to total enterprise value - Consolidated 43.20% 38.20% 37.70%
Debt to total enterprise value - RioCan's interest 43.40% 40.10% n/a*
Debt service coverage ratio - RioCan's interest 2.10 1.98 1.87
Interest coverage ratio - RioCan's interest 2.83 2.69 n/a*
Fixed charge coverage ratio - RioCan's interest 1.06 1.04 n/a*
Net consolidated debt to Adjusted EBITDA 7.52 7.00 7.26
Operating debt to adjusted operating EBITDA - RioCan's interest 7.24 7.09 7.00
Total unitholders' equity 7,261 6,847 5,363
Common Units outstanding (in thousands) 304,075 300,099 279,113
Closing market price per common Unit 24.77 27.56 26.43
Common Units - market capitalization 7,532 8,271 7,377
Preferred Units, Series A outstanding (in thousands) 5,000 5,000 5,000
Closing market price per Preferred Unit, Series A 24.90 25.94 25.81
Preferred Unit, Series C outstanding (in thousands) 5,980 5,980 5,980
Closing market price per Preferred Unit, Series C 25.00 26.15 25.15
Preferred Units - market capitalization 274 286 279
22
* Calculation at RioCan’s interest was not performed for the year ended December 31, 2011
** Debt is defined as the sum of mortgages payable, lines of credit, and debentures payable.

Financial Summary
23
Occupancy and Leasing Profile
2013 2012
(thousands of square feet, millions of
dollars except PSF amounts)
Fourth
quarter
Third
quarter
Second
quarter
First
quarter
Fourth
quarter
Third
quarter
Second
quarter
First
quarter
Committed occupancy 96.9% 97.0% 96.7% 97.0% 97.4% 97.3% 97.4% 96.9%
Economic occupancy 95.8% 95.5% 95.4% 95.8% 95.9% 95.5% 95.5% 95.7%
NLA leased but not paying rent 542 716 642 615 711 855 871 542
Annualized rental impact $14 $17 $15 $15 $15 $18 $18 $12
Retention rate - Canada 97.0% 91.1% 95.9% 68.3% 94.3% 84.8% 89.9% 91.2%
% increase in average net rent per sq ft -
Canada 8.8% 11.2% 12.0% 13.4% 18.4% 12.9% 13.4% 10.0%
Retention rate - US 98.2% 98.4% 92.0% 98.8% 87.6% 96.3% 84.2% 83.1%
% increase in average net rent per sq ft -
US 4.8% 3.8% 4.3% 2.3% 5.1% 6.0% 7.3% 7.2%
Average in place rent (PSF) $16.08 $16.07 $15.77 $15.77 $15.70 $15.85 $15.33 $15.37
Same store growth - Canada 2.7% 2.2% 0.6% 0.1% 0.2% 0.0% 1.5% 1.5%
Same store growth - US 1.7% 0.9% 1.4% 1.4% 1.9% (0.3%) 1.3% (0.6%)

Financial Summary
24
(thousands of dollars)
Three Months Ended December 31,
2013 2012 Increase (decrease)
Same Store
Number of Properties 257 257 -
Committed Occupancy 96.8% 97.1% (0.3%)
Economic Occupancy 95.4% 95.4% 0.0%
Net Operating Income
Same store1 $144,731 $140,868 2.7%
Redevelopment & intensification $1,851 $2,593 (28.6%)
Same properties2 $146,582 $143,461 2.2%
Acquisitions & Dispositions $8,025 $6,593 nm
Greenfield development $3,532 $2,656 33.0%
NOI before adjustments $158,139 $152,710 3.6%
Lease cancellation fees $3,532 $4,290 (21.8%)
Straight-lining of rents $731 $2,150 (66.0%)
NOI from properties under development $945 $868 8.9%
NOI – At RioCan’s interest $163,168 $160,018 2.0%
“nm” – not meaningful.
1 Same store refers to those income properties that were owned by RioCan and had consistent leasable area in both periods.
2 Same properties refer to those income properties that were owned by RioCan throughout both periods.
Canadian Portfolio

Financial Summary
25
(thousands of dollars)
Year Ended December 31,
2013 2012 Increase (decrease)
Same Store
Number of Properties 257 257 -
Committed Occupancy 96.8% 97.1% (0.3%)
Economic Occupancy 95.4% 95.4% 0.0%
Same store1 $557,811 $548,472 1.7%
Redevelopment & intensification $6,803 $8,673 (21.6%)
Same properties2 $564,614 $557,145 1.3%
Acquisitions & Dispositions $38,560 $16,295 nm
Greenfield development $16,792 $13,983 20.1%
Lease cancellation fees $8,022 $13,139 (38.9%)
Straight-lining of rents $4,463 $4,236 5.4%
NOI from properties under development $3,709 $2,421 53.2%
2 Same properties refer to those income properties that were owned by RioCan throughout both periods.
Canadian Portfolio

Financial Summary
26
Three Months ended Dec. 31,
(thousands of dollars) 2013 2012
Increase
(decrease)
Base rent – US$ $25,706 $25,619 0.3%
Property tax and operating cost recoveries – US$ 7,741 8,229 (5.9%)
Other – US$ 190 268 (29.1%)
Rental revenue – US$ 33,637 34,116 (1.4%)
Property operating costs – US$ 9,213 10,110 (8.9%)
Same store and same properties 12– US$ $24,424 $24,006 1.7%
Foreign currency translation adjustment 1,006 (220) nm
Same store and same properties 12 – CDN$ 25,430 23,786 6.9%
Acquisitions 6,714 – nm
Dispositions - 1,775 nm
Lease cancellation fee - – nm
Straight-lining of rents 1,086 927 17.2%
2 Same properties refer to those income properties that were owned by RioCan throughout both periods..
US Portfolio

Financial Summary
27
Year ended Dec. 31,
(thousands of dollars) 2013 2012
Increase
(decrease)
Base rent – US$ $95,048 $94,230 0.9%
Property tax and operating cost recoveries – US$ 28,964 27,502 5.3%
Other – US$ 816 1,066 (23.5%)
Rental revenue – US$ 124,828 122,798 1.7%
Property operating costs – US$ 35,466 34,452 2.9%
Same store and same properties 12– US$ $89,362 $88,346 1.2%
Foreign currency translation adjustment 2,664 49 nm
Same store and same properties 12 – CDN$ 92,026 88,395 4.1%
Acquisitions 26,140 – nm
Dispositions - 4,646 nm
Lease cancellation fee 299 – nm
Straight-lining of rents 3,264 3,270 (0.2%)
2 Same properties refer to those income properties that were owned by RioCan throughout both periods..
US Portfolio

Conservative Debt Profile
• Debt‐to‐Total Assets of 44.0% at December 31, 2013;
• Total operating lines $640 million with approximately $598 million
available at February 12, 2014
• Unencumbered pool has a fair value of $2.1 billion
• Floating rate debt 8.0% of aggregate debt
• Strong coverage ratios in Q4 2013
• EBITDA interest coverage of 3.10x
• Debt service coverage of 2.26x and
• Fixed charge coverage of 1.10x
28* At RioCan’s interest

RioCan Capital Structure
34.8%
11.1%
2.0%
52.1%
0%
25%
50%
75%
100%
Book Value*
Common Units - 304 million units outstanding, $7.5 billion market capitalization
Preferred Units - $274 million market capitalization
Debentures - $1.4 billion
Mortgages & Lines of Credit - $4.5 billion
29
34.1%
10.8%
2.1%
53.0%
0%
25%
50%
75%
100%
Market Value
Total Assets – $13.6 Billion Total Enterprise Value* – $13.8 Billion

Conservative Debt Structure
Growth in Asset vs Debt
30
0
2000
4000
6000
8000
10000
12000
14000
2008
2009
2010
2011
2012
2013
3,260
3,663
4,410 5,034 5,717
5,988
5,338
5,862
8,886
10,767
12,888
13,554
Debt Assets
CAGR - 20.5%
CAGR - 12.9%

Modest Leverage, Strong Interest Coverage
• RioCan has consistently adhered to a conservative debt policy even
through periods of considerable growth
• 60% max permitted under covenant
• Interest coverage well in excess of the 1.65x maintenance covenant
47.3% 48.2% 51.9% 53.1% 53.8% 53.9% 56.6% 56.3% 54.9% 55.6%
49.1% 46.4% 43.5% 44.0%
2.9x 2.9x
2.6x 2.6x 2.7x 2.8x 2.9x
2.7x 2.6x
2.2x
2.5x 2.5x
2.7x 2.8x
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Leverage Interest Coverage
31* At RioCan’s interest

Debt Maturity Schedule
32
• Long‐term, staggered debt maturity profile.
• 4.3% overall WAIR and 4.7 Year weighted avg. term to maturity at RioCan’s interest.
• Low floating rate debt exposure (8.0% of total debt) at RioCan’s interest.
4.6% 4.6% 4.5%
3.6% 3.5%
4.4%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
0
500
1,000
1,500
2,000
2,500
2014 2015 2016 2017 2018 Thereafter
Scheduled principal amortization Mortgages payable
Debentures payable Weighted average interest rate$ Millions
WeightedAvg.InterestRateonMaturingDebt
413
790
943
1,123
779
1,936

Leverage and Coverage Ratios & Targets
33
3 Months 12 Months
Targeted
Ratios
Dec.
31/13 5
Dec.
31/13
Dec.
31/13 5
Dec.
31/12
Interest coverage ratio1 >2.75x 3.10x 2.80x 2.83x 2.69x
Debt service coverage ratio2 >2.25x 2.26 2.10 2.10 1.98
Fixed charge coverage ratio3 >1.1x 1.10 1.06 1.06 1.04
Net operating debt to operating
EBITDA ratio4 <6.5x 7.49 7.49 7.24 7.09
Unencumbered Assets ($millions) $2,068 $1,353
Unsecured Debentures ($millions) $1,456 $1,299
Unencumbered Assets to
Unsecured Debt
>130% 142% 104%
(1) Interest coverage defined as: Adjusted EBITDA for the period, divided by total interest expense (including interest that has been capitalized).
(2) Debt service coverage defined as: Adjusted EBITDA for the period, divided by total interest expense and scheduled mortgage principal amortization (including interest
that has been capitalized).
(3) Fixed charge coverage is defined as: Adjusted EBITDA for the period, divided by total interest expense (including interest that has been capitalized) and distributions to
common and preferred unitholders.
(4) Net operating debt to Operating EBITDA is defined as: the average debt outstanding (net of cash) for the period less debt related to property under development divided
by EBITDA
(5) Adjusted to exclude interest capitalized.

Future Growth Drivers
35
Future Growth
Drivers
Institutional
Relationships
Organic
Growth
Acquisitions
Development
Pipeline
Land Use
Intensification

Organic Growth
Canadian Portfolio
36
Lease Expires
(thousands except psf and % amounts Portfolio NLA 2014 2015 2016 2017 2018
Total 39,358 4,395 4,108 4,752 3,568 4,592
Square Feet expiring/portfolio NLA 11.2% 10.4% 12.1% 9.1% 11.7%
Total average net rent psf $16.63 $16.75 $16.44 $16.73 $18.86 $17.14
Ability to add growth through rental renewals with 55% of leases renewing over next five years.
• In 2013 achieved renewal rent increases of 11% or $1.80 psf with an average renewal rate of $18.22.
• Retention rate of 97.0% in Q4 2013
$12
$13
$14
$15
$16
$17
$18
$19
$20
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
RioCan Lease Maturity Schedule and Renewal History
Square feet renewed/expiring (left axis - 000's) Achieved Renewal Rent PSF Expiring Rent PSF

Organic Growth
U.S. Portfolio
37
Lease Expires
(thousands except psf and % amounts Portfolio NLA 2014 2015 2016 2017 2018
Total 9,882 700 482 494 732 1,146
Square Feet expiring/portfolio NLA 7.1% 4.9% 5.0% 7.4% 11.6%
0%
20%
40%
60%
80%
100%
2004 2015 2016 2017 2018
Leases Expiring Total Portfolio Cumulative
Square Feet expiring/portfolio NLA
Ability to add growth through rental renewals with 36% of leases renewing over next five years.
• In Q4 2013 achieved renewal rent increases of 4.8% or $0.55 psf with an average renewal rental rate of $12.06
• Maintained a retention rate of 98.2% in Q4 2013

Acquisitions
38
2010 2011 2012 2013
$986
$1,100
$926
$849
Annual Acquisitions – Canada & US
Purchase price at RioCan’s interest (millions)
Total
$3.9
Billion

Acquisitions
Track Record – Acquisitions 2011 – 2013
39
Location Cap Rate
RioCan’s Purchase Price
(millions)
Canada 6.4% 506
United States 6.9% 567
2011 Acquisitions 6.6% $1,073
Canada 5.7% 543
2012 Acquisitions 6.1% $926
Canada 5.3% 571
2013 Acquisitions 5.7% $849
Grand Total 2011-2013 6.2% $2,848

Dissolution of JV with Retail
Properties of America, Inc.
(“RPAI”) and Dunhill Partners

Transaction Highlights - RPAI
• RioCan and RPAI have dissolved their joint venture arrangement formed in 2010;
• RioCan acquired a 100% interest in eight high quality retail assets in Texas, including the dominant
power centres in Austin and San Antonio. The portfolio includes four Target shadow anchored centres
in Austin, San Antonio and Temple, as well as four exceptional grocery anchored or shadow anchored
centres in Houston and Dallas.
• The gross purchase price for the 8 properties was $96.6 million, representing a capitalization rate of
6.9%. Under the terms, RioCan assumed RPAI’s share of the current in place mortgage financing of
$41.8 million, which carries an average interest rate of 3.7% and has an average term to maturity of 2.9
years. The purchase price for the 8 properties net of financing and mark to market adjustment on debt
was $53.7 million.
• RPAI acquired from RioCan its 80% ownership in five assets at a gross purchase price of $102.8 million
($45.6 million net of financing and mark to market adjustment on debt) to increase RPAI’s ownership
interest to 100% in these five properties.
41

42
High quality assets with a focus towards grocery
anchored centres

Assets Acquired
43
Property Name Location NLA Occupancy Major Tenants
1890 Ranch Austin 486,896 90.5%
Super Target (shadow), Ross Dress for Less,
Beall’s, PetSmart
Alamo Ranch
San
Antonio
424,371 89.4%
Super Target (shadow), Ross Dress for Less,
Dick’s Sporting Goods, PetSmart, Michaels
Bear Creek Shopping Center Houston 87,912 98.8% HEB
Bird Creek Crossing Temple 124,941 100.0%
Target (Shadow), Home Depot (Shadow),
PetSmart, Michaels, Office Max
Great Southwest Crossing Dallas 168,000 100.0%
Sam’s Club (shadow), Kroger (Shadow),
PetSmart, Office Depot
Riverpark Phase I,II Houston 253,011 95.9% HEB, LA Fitness, Dollar Tree
Southpark Meadows Austin 923,141 97.0%
Walmart (ground lease), Super Target (Shadow),
Bed Bath & Beyond, Marshalls, Ross Dress for
Less, Sports Authority
Suntree Square Dallas 99,269 94.2% Tom Thumb (Safeway),
TOTAL / W.A. 2,567,541 94.4%

Transaction Highlights - Dunhill
Dunhill Partners Inc. (Dunhill)
• RioCan has dissolved its joint venture agreement with Dunhill. RioCan acquired its
partner’s interests in six properties for a total purchase price of US$83.5 million, which
equates to a capitalization rate of 6.4%. The six properties are; Arbor Park, Las Colinas
Village, Las Palmas Marketplace, Lincoln Square, Louetta Central and Timber Creek
Crossing.
• RioCan assumed Dunhill’s share of the existing in place mortgage financing on the six
properties aggregating to approximately US$42 million, which carries an average
interest rate of 4.97% and has an average term to maturity of 8.2 years.
44

Transaction Highlights - Dunhill
Assets Acquired
45
Property Name Dunhill’s
interest
Location NLA Occupancy Major Tenants
Arbor Park 15% San Antonio 139,718 98.5% Ross Dress for Less, Office Max, Michaels
Las Colinas Village 15%
Irving
(Dallas)
104,741 100% Staples
Las Palmas Marketplace 36.6% El Paso 637,272 98.2%
Lowe’s, Kohl’s, Bed Bath & Beyond, Ross
Dress for Less
Lincoln Square 18.12%
Arlington
(Dallas)
471,597 91.9%
Best Buy, Ross Dress for Less, Stein Mart,
Michaels
Louetta Central 15% Houston 179,995 100%
Walmart (shadow), Kohl’s, Ross Dress for
Less, Michaels,
Timber Creek Crossing 20% Dallas 474,057 98.5% Walmart, JC Penny
TOTAL / W.A. 2,007,380 97.1%

RioCan Cedar Dissolution
Transaction Highlights
• In October 2012, RioCan and Cedar Realty Trust entered into an agreement to dissolve their joint
venture formed in late 2009.
• RioCan acquired Cedar’s 20% interest in 21 properties to increase its ownership to 100% and Cedar has
acquired from RioCan an 80% interest in Franklin Village to increase its ownership to 100% in the
property.
• The gross purchase price for the 21 properties was $120 million, representing a capitalization rate of
6.5%. Under the terms, RioCan assumed Cedar’s share of the in place mortgage financing of $54.4
million, which carried an average interest rate of 5.2% and had an average term to maturity of 5.2 years.
The purchase price for the 21 properties net of financing and mark to market adjustment on debt was
$64.4 million.
• RioCan sold its 80% ownership in Franklin Village at a gross purchase price of $60.1 million ($25.4 million
net of financing).
• Net cash investment by RioCan of approximately $39 million.
• In February 2013, RioCan sold its entire position of 9.4 million shares of Cedar for $48 million.
• In January 2013, RioCan opened a regional office in Mount Laurel, New Jersey and effective February 1,
2013 RioCan assumed property and asset management functions for its Northeast portfolio.
46Figures in US dollars

Recent Enclosed Mall Acquisitions
47
Burlington Mall, Burlington, Ontario Oakville Place, Oakville, OntarioGeorgian Mall, Barrie, Ontario

Recent Enclosed Mall Acquisitions
Impact on Property Type Mix
48
RioCan plans to actively increase its presence in two sectors in Canada; enclosed
regional malls and urban retail centers, as a means of leveraging its retail tenant base
across the US and Canada.
The 2012 purchase of Georgian Mall along with the acquisitions of Oakville Place and a 50% interest in Burlington Mall in April 2013, and the
redevelopment and development of certain retail centers such as Yonge Eglinton Center, Sheppard Center, Lawrence Square, Shoppers World
Brampton and the Globe and Mail lands complement RioCan’s strategic goals to increase its presence in regional malls and urban retail centres.
RioCan considers these sectors to have strong growth and value creation potential. There are additional opportunities for organic growth within
the acquired shopping centres, which RioCan believes it can realize with its deep infrastructure and management strength.
Office, 4.3%
Urban Retail,
8.6%
Enclosed
Shopping
Centre, 15.1%
Non-Grocery
Anchor, 5.0%
Grocery
Anchored
Centre, 18.3%
New Format
Retail, 48.7%
As at March 31, 2013
Office, 5.0%
Urban Retail,
8.6%
Enclosed
Shopping
Centre, 18.1%
Non-Grocery
Anchor, 4.8%
Grocery
Anchored
Centre, 19.6%
New Format
Retail, 43.9%
December 31, 2013

Enclosed Mall Acquisitions
• RioCan completed the purchase of a 50% interest in Burlington Mall in Burlington, Ontario, and a 100% interest in Oakville
Place in Oakville, Ontario in the second quarter of 2013.
– The gross purchase price for these two properties was approximately $362 million (at RioCan’s interest) at a cap rate of approximately 5.0%.
In connection with the purchase, RioCan assumed, at its interest, the in place mortgage financing of approximately $165 million. The
purchase price was reduced by a mark-to-market adjustment on closing in consideration of the debt’s above market interest rate, which
was $9.8 million.
• Extends RioCan’s retail reach to develop deeper relationships with fashion tenants and could create additional
opportunities at RioCan’s urban properties and Outlet Centres.
• RioCan also acquired a third asset, South Cambridge Centre from H&R REIT at a purchase price of $35 million at a cap rate
of approximately 6.7%.
49
Burlington Mall, Burlington, Ontario Oakville Place, Oakville, Ontario

Extracting Value by Recycling Capital
• In Canada during 2013, RioCan sold 13 properties at a total sale price of $616 million at a weighted
average capitalization rate of 5.9%. The total debt associated with these assets was $160 million.
• Subsequent to year end RioCan sold two properties in Canada at a total sale price of $48 million at a
weighted average cap rate of 6.1%. Both properties were sold free and clear of financing.
• RioCan has one property for sale under conditional contract for a sales price of $5 million.
• Current asset sales plan involves selling centres in lower growth and secondary markets;
• These asset sales will further enhance RioCan’s strategy to be focused in Canada’s high population, high
growth markets;
– RioCan’s concentration in Canada’s six high growth markets exceeds 70% (Year end 2012 68%)
– Capital from asset sales redeployed into enclosed mall acquisitions and development activities.
50
RioCan’s plan to recycle capital into higher growth assets will provide for
enhanced returns to unitholders and a reduced need for access to public equity
markets to raise capital.

Extracting Value by Recycling Capital
Growth in Canada’s 6 Major Markets
RioCan’s program of recycling capital is to shift the portfolio’s geographic allocation away from
low growth markets into Canada’s six high growth major markets.
Markets with highest population growth will outperform smaller markets with little growth or
negative populations statistics.
2008 2012 5-Jul-05
65.9%
67.5%
71.7%
51

Development Activity
Development Pipeline
52
RioCan’s development program consists of
16 projects that are expected to add 11.9
million square feet (5.9 million square feet
at RioCan’s interest) over the next six
years.
• 0.8 million square feet is already
income producing
• Key component of RioCan’s organic
growth strategy
• Focused on well located urban and
suburban developments in Canada’s six
major markets
* Subject to preleasing and market conditions
RioCan’s development portfolio is expected to add considerable value to the overall investment
property portfolio over the next 3-5 years. These assets are expected to generate higher yields
than what can currently be achieved in the acquisition market.
-
200
400
600
800
1,000
1,200
2014 2015 2016 2017 2018 2019
PipelineNLA(000'sSq.Ft.)
Committed Non-committed

Development Activity - Current Portfolio
5%
60%
33%
2%
Property Type as a % of Development
Portfolio
Outlet Centre Power Centre
Main Street/Urban Convenience Retail
53
Alberta
18%
New Brunswick
5%
Ottawa
11%
Suburban
GTA
24%
Toronto
33%
Other Ontario
9%
Ontario
77%
Development Portfolio by
Geographic Diversification
* % of total portfolio

At December 31, 2013
Total developments comprise 10.5 million square feet, including shadow anchors (7.4 million square feet included in Greenfield
developments and 3.1 million square feet of Urban intensification projects).
• RioCan’s interest consists of 3.4 million square feet of Greenfield development and 1.5 million square feet of Urban
intensification projects.
• Total estimated development spending of $86.7 million for 2014 on Greenfield and Urban intensification activities. Overall
development spending in the next five to seven years will range from $100 million to $200 million per year.
• RioCan’s committed active development pipeline totals approximately $332 million, with an additional $203 million of
Non-committed development costs projected.
• Generate unlevered yield between 7% to 11%, at a weighted average of 8.0% to 9.0%.
• Recent Urban Development acquisitions include Spadina and Front Street, Yonge & Eglinton Northeast corner, Bathurst &
College, and 740 Dupont in the GTA and Herongate Mall in Ottawa, ON.
• In July 2012, RioCan formed a JV with Allied Property REIT to develop sites in major markets across Canada.
• RioCan, Allied Properties and Diamond Corp entered into a joint venture arrangement and have acquired two parcels which
comprise “The Well” site in downtown Toronto.
54
Greenfield developments through in‐house capabilities and with partners, such as Trinity, Allied
Properties, KingSett Capital, and Canada Pension Plan Investment Board (CPPIB)

In millions of square feet NLA –
100%
NLA –
RioCan%
Income
producing (i)
2014 2015 2016
Greenfield Development 7.4 3.4 0.8 0.5 0.7 1.4
Urban Intensification 3.1 1.5 - - 0.1 1.4
10.5 4.9 0.8 0.5 0.8 2.8
Expansion & Redevelopment 1.4 1.0 - 0.4 0.4 0.2
Total 11.9 5.9 0.8 0.9 1.2 3.0
(i) – Phases of the development that are currently income producing.
Estimated NLA Summary by Development Category
55

PUD Balance: Active
Committed Non-Committed Non-active Total
Greenfield Development $218 $73 - $291
Urban Intensification 28 100 - 128
Expansion and Redevelopment 86 30 - 116
Excess Density - - 41 41
Other (i) - - 7 7
Total $332 $203 $48 $583
Greenfield Development: vacant land located in suburban markets.
Urban Intensification: development or redevelopment projects located in urban markets.
Expansion and Redevelopment: projects that will improve the property through demolition, renovation and/or the addition of density.
Excess Density: leasable area identified and available for future development if and when the market demand exists.
Active Committed: a property where the pro forma budget has been approved, all major planning issues have been resolved, tenants
have been secured and construction is about to start or has started.
Active Non – committed: a property where the development team is creating the pro forma budget, all planning issues are being
resolved, the leasing team is in the process of securing tenants, but construction has not started.
Non – active: a property that has future development potential.
(i) Includes earnouts and other
Properties Under Development at December 31, 2013
56

In millions 2014 2015 2016 Future
Development
Total
Greenfield Development $79.3 $19.9 $6.2 $257.2 $362.6
Urban Intensification 7.4 10.0 13.9 392.1 423.4
Expansion & Redevelopment 104.4 53.6 17.4 - 175.4
Total Construction Expenditures 191.1 83.5 37.5 649.3 961.4
Construction Financing (i) (16.5) (16.8) (2.5) (470.8) (506.6)
Mezzanine Financing 3.7 1.5 0.9 35.4 41.5
Total RioCan Financing $178.3 $68.2 $35.9 $213.9 $496.3
(i) - Construction financing relates to greenfield Development and Urban Intensification activities
Estimated Spending Summary by Development Category
57

58
• RioCan, Allied Properties and Diamond Corp announced in
November 2012 that they had entered into a joint venture
arrangement to acquire the Globe and Mail site in downtown
Toronto. In April 2013, the partners also purchased an
adjacent parcel.
• Initial parcel acquired at a purchase price of $136 million (at
100%). Second parcel (highlighted in red) acquired at a
purchase price of $37 million (at 100%).
• Project is expected to be 3.2 million square feet of mixed use
including 570,000 square feet of retail, 1.1 million square
feet of office and 1.5 million square feet of residential space.
• The joint venture will be structured on a 40/40/20 basis
between RioCan, Allied and Diamond. RioCan and Allied
would act as joint development and construction managers.
Upon completion of any projects RioCan would act as
property manager for any retail portion of the property and
Allied would act as property manager for any office portion
RioCan & Allied Properties REIT Joint Venture

59
THE WELL – Potential Layout and Vision
Current vision for the site includes mix use of office retail and residential uses
with inspiration drawn from other open air mixed retail properties in Europe.

60
THE WELL – Potential Layout and Vision

61
• RioCan and Allied Properties announced in July 2012 that
they had entered into a joint venture arrangement to
acquire sites in the urban areas of major Canadian cities
that are suitable for mixed use intensification
• The joint venture is structured on a 50/50 basis between
RioCan and Allied. RioCan and Allied would act as joint
development and construction managers. Upon completion
of any projects RioCan would act as property manager for
any retail portion of the property and Allied would act as
property manager for any office portion
• First two sites to be developed are:
– College and Manning which will be developed into a
mixed use complex with approx. 125,000 square feet and
– King and Portland which will be developed into a mixed
use complex with approx. 400,000 square feet in Toronto,
Ontario.
King Street
College and Manning

62
Target has 25 locations in RioCan’s Canadian portfolio
• Target will be the anchor tenant at RioCan’s St Clair
and Weston road project Stockyards
• Canada’s first purpose built Target location
opening spring 2014
• RioCan will continue to upgrade existing shopping
centre infrastructure and aesthetics related to
shopping centres where Target will have tenancy.
This will include roof replacement, paving, sidewalk
and curb replacement, entrance improvements,
landscaping improvements, signage and upgrades
to interior common areas and washrooms.

63
St. Clair & Weston, Toronto
555,000 sqf. two storey retail – Projected Completion 2014
Anchor Tenant - Target
Development Partners: Trinity and Canada Pension Plan Investment Board (“CPPIB”)

64
Sage Hill, Calgary
• Sage Hill Crossing, a 34 acre greenfield
development site in Northwest Calgary.
• RioCan will own the development on a 50/50
basis with KingSett Capital.
• RioCan acquired the site at a purchase price of
$32 million ($16 million at RioCan’s interest).
• Development commenced in 2013.
• Once completed, the anticipated gross leasable
area is 386,000 square feet of retail use.
• The property is 70% preleased with Walmart
and Loblaws slated to be the anchor tenants.
• Other major tenants include, RBC, Scotiabank,
McDonalds, Liquor Depot and London Drugs.
The property is expected to be completed in
2016.

• 2.8 acre site located in the East
Village area of downtown
Calgary, Alberta.
• The site was acquired on a 50/50
joint venture basis with KingSett
Capital at a purchase price of $20
million.
• The joint venture is
contemplating the development
of 316,000 square feet of mixed
use retail and office space.
• Development is anticipated to
commence in the spring of 2014.
65
Calgary East Village

Land Use Intensification and Urban
Development
• Capitalize on trend in Canada’s six high growth markets towards “densifying” existing urban
locations, driven by:
– Prohibitive costs of expanding infrastructure beyond urban
boundaries
– Environmental concerns
– Maximizing use of mass transit
– Generate high yields as land is already owned
66

“Densifying” existing urban locations
67
Yonge Eglinton Centre - Toronto, Ontario
• RioCan acquired the property for $223 million
launched revitalization and expansion plan to
capitalize on area’s residential intensification
significant increases in NOI and occupancy

Creating New Cash Flow Sources
68
RioCan Yonge Eglinton Centre –The Cube
Location: Toronto, Ontario
Intersection: Yonge & Eglinton
Total Proposed GLA: 51,000 square feet
Design Concept: Urban Retail
Construction Start: Q2 2013
Expected Completion: Spring 2015
Today
Proposed

69
The Sheppard Centre, Toronto
Intersection: Yonge & Sheppard
Expected Construction Start: Late 2014
Anticipated Completion: 2016
Today
• Plans include substantial renovation of retail
space including a new four storey retail
addition fronting Sheppard Avenue.
• When complete will add approximately
110,000 square feet of new retail space.
• Plans also contemplate the addition of a
new 39 storey residential tower containing
290,000 square feet.
• Fast growing area of North Toronto
• Conditional agreements in place with:
• Longo’s
• Goodlife Fitness
Proposed

70
Intersection: Yonge & Eglinton
Yonge & Eglinton Northeast Corner - Toronto, Ontario
• 1.1 acre site has been approved for
redevelopment by the city of Toronto with a
58 storey tower at corner of Yonge and Eglinton
and a 36 storey tower fronting Roehampton
Avenue (first street north of Eglinton).
• Condominium portion of the project is 90%
pre-sold by dollar value.
• North tower to be developed as rental residential.
Current plans are for 458 unit residential
apartment building.

71
Intersection: 740 Dupont Street
740 Dupont - Toronto, Ontario

72
420 Bathurst Street, Toronto
Intersection: Bathurst & Dundas

Urban Intensification
• Located at the busy intersection of Bayview Avenue and
Eglinton Avenue in midtown Toronto
• The site benefits from excellent demographics and is a
probable location for a stop along the proposed Eglinton
subway line
• The property is an excellent location for a redevelopment
project similar to what has been accomplished at 1717
Avenue Road
73
RioCan has a number of Urban Intensification opportunities in the GTA market
Sunnybrook Plaza, Toronto, ON
Queensway Cineplex, Toronto, ON
• Located in Western Toronto at the corner of The Queensway
and Islington Avenue with access to the Queen Elizabeth Way
(QEW)
• The Currently anchored by Cineplex, which will be expanded
to include VIP screens. This centre is an ideal property for
additional density and potential redevelopment into a
mixed‐use facility, in keeping with the trend of urban
intensification

Urban Intensification – Completed
Projects
74
Queen & Portland, Toronto, ON
Before
After
Intersection: Portland & Queen
Design Concept: Mixed‐use facility
Construction Completed: 2011

Urban Intensification – Completed
Projects
75
1717 Avenue Road, Toronto, ON
Intersection: 1717 Avenue Road
Design Concept: Mixed‐use facility
Construction Completed: 2011

Canadian Outlet Centre
Development
• In 2011, RioCan entered into an exclusive joint venture for the acquisition, development and leasing
of sites across Canada that are suitable for development or redevelopment as outlet shopping
centres similar in concept and design to those within the existing Tanger U.S. portfolio.
• In December 2011, RioCan and Tanger acquired the Cookstown Outlet Mall, located about 45
minutes north of Toronto. A 161,000 square foot outlet centre with the potential to add a further
160,000 square feet of retail space, which broke ground during the second quarter of 2013.
• In November 2012, RioCan and Tanger acquired two sites in the Montreal area, Les Factoreries
Saint-Sauveur, and Le Carrefour Champetre (Bromont Outlet Centre). The Montreal sites are
existing centres which will be expanded and re-branded as Tanger Outlet Centers.
• The joint venture currently has a 52.5 acre site in Kanata, Ontario, which broke ground during the
second quarter 2013.
• Currently have a site under contract in the Calgary market.
76

• 161,000 square foot outlet centre with the potential to add a further 160,000 square feet of retail space
• Ground breaking ceremonies on expansion were held in Q2 2013.
77
Cookstown Outlet Mall
Purchased in December 2011 with Tanger
Factory Outlet Centers.

• 52.5 acre site, approximately 20 kilometres west of Ottawa
• To be developed into a 347,000 square foot outlet centre
• Ground breaking ceremonies on expansion were held in
Q2 2013.
78
West Kanata Lands
On April 23, 2013 RioCan and Tanger purchased the West Kanata Lands

Tanger Opportunities
• Well established outlet centre in suburban Montreal
79
Les Factoreries, St-Sauveur Tanger Outlet Centre

Tanger Opportunities
• Established outlet centre located 85kms east of Montreal, near the eastern townships
80
Bromont Tanger Outlet Centre – Bromont, Quebec

Strong Institutional Relationships
• Through the years RioCan has developed strong institutional relationships
• Leverage RioCan’s capital to enhance returns and increase scale of investments
• Generate additional revenue streams through property and asset management fees
• RioCan recently entered into a Joint Venture arrangement with KingSett Capital when it
acquired the Sheppard Centre
– RioCan manages the property, acts as leasing manager for the property and will be the
development manager in connection with any redevelopment of the property.
– Currently partnered with KingSett on the acquisition of the Sage Hill development site.
– Currently partnered with KingSett on the acquisition of Burlington Mall as part of the Primaris
acquisition
• RioCan has also developed a strong relationship with Allied properties
– RioCan has partnered with Allied on the urban development sites of King & Portland and College
street in Toronto.
– RioCan, Allied, and Diamond Corp. have entered into a joint venture to develop The Well
(formerly the Globe and Mail lands) at Front Street and Spadina in downtown Toronto.
81

• RioCan REIT and Kimco Realty Corporation, a
U.S. REIT listed on the NYSE which also
focuses on the ownership of shopping centres,
each have a 50% interest in RioKim joint
venture.
• Invested over $1.2 billion in 45 properties
since 2001 comprising over 9.3 million sq. ft.
of GLA including a 10 property portfolio in
central and eastern Canada purchased in
September 2008.
• RioCan provides asset and property
management, development and leasing
services to RioKim in Canada.
• RioCan recently acquired an 80% interest in
Montgomery Plaza in Fort Worth, Texas from
Kimco, who remains a 20% owner in the
property and provides property management
and leasing services.
82
RioKim Joint Venture Brentwood Village
Tillicum Centre

• In October 2004, RioCan REIT and CPPIB
announced an agreement to acquire premier
regional power centres in Canada on a 50/50
basis as a core, long‐term holding strategy
• Today, RioCan and CPPIB are partners in over
1.8 million sq. ft. of completed regional power
centres and approximately 3.2 million sq. ft. of
planned development projects
• RioCan provides property and asset
management, leasing, development and
construction management services for the
co‐ownership
83
CPPIB Joint Venture RioCan Centre Burloak ‐ Before
RioCan Centre Burloak ‐ After

• Acquired in December 2009 on a 50‐50 basis
• Unique asset located in the Greater
Vancouver Area market of Surrey
• Diverse and strong tenant mix
• 529,827 sq. ft. anchored by a 217,278 sq. ft.
Walmart
84
CPPIB Strategic Alliance
Grandview Corners
• RioCan completed the rezoning for its St.
Clair and Weston Road development with
Trinity and Canada Pension Plan
Investment Board (“CPPIB”) in Toronto.
• Site work commenced in the fourth quarter
of 2011. Expected completion in first half
of 2014
St. Clair & Weston

• RioCan has successfully completed the rezoning
requirements for its East Hills development with
Trinity, CPPIB and the original vendor in Calgary,
Alberta.
• The East Hills development consists of three phases.
Phase I and III comprise approximately 111 acres and
Phase II comprises approximately 37 acres.
85
CPPIB Strategic Alliance
East Hills
• Jacksonport, located at 36th Street NE and Country Hills Boulevard NE
in Calgary, is a 105 acre development site.
• Will be developed into a new format retail centre with CPPIB and
Trinity
• Upon completion, the development is expected to feature
approximately 1.1 million square feet of retail space.
McCall Landing

Non-GAAP Measures
86
RioCan’s consolidated financial statements are prepared in accordance with IFRS. Consistent with
RioCan’s management framework, management uses certain financial measures to assess
RioCan’s financial performance, which are not generally accepted accounting principles (GAAP)
under IFRS.
The following measures, RioCan’s Interest, Funds From Operations (“FFO”), Operating Funds
From Operations (“Operating FFO”), Net Operating Income (“NOI”), Adjusted Earnings before
interest, taxes, depreciation and amortization (“Adjusted EBITDA”), Adjusted Unit holders
Equity, Same Store NOI, and Same Property NOI, as well as other measures discussed elsewhere
in this presentation, do not have a standardized definition prescribed by IFRS and are, therefore,
unlikely to be comparable to similar measures presented by other reporting issuers.
Non GAAP measures should not be considered as alternatives to net earnings or comparable
metrics determined in accordance with IFRS as indicators of RioCan’s performance, liquidity, cash
flow, and profitability. For a full definition of these measures, please refer to the “Use of Non-
GAAP Measures” in RioCan’s fourth quarter and year ended December 31, 2013. RioCan uses
these measures to better assess the Trust’s underlying performance and provides these
additional measures so that investors may do the same.

RioCan Yonge Eglinton Centre
2300 Yonge Street, Suite 500
PO Box 2386
Toronto, Ontario
M4P 1E4
TRANSFORMING…

March 6, 2014 - Management Investor Presentation - YE 2013

Recommended

Recommended

More Related Content

What's hot

What's hot (20)

Viewers also liked

Viewers also liked (18)

Similar to March 6, 2014 - Management Investor Presentation - YE 2013

Similar to March 6, 2014 - Management Investor Presentation - YE 2013 (20)

More from RioCan

More from RioCan (8)

Recently uploaded

Recently uploaded (8)

March 6, 2014 - Management Investor Presentation - YE 2013