Slate Retail REIT Announces Election of Trustees and Voting Results From 2016 Annual and Special Meeting of Unitholders

| Source: Slate Retail REIT Slate Retail REIT

TORONTO, ON--(Marketwired - May 16, 2016) - Slate Retail REIT (TSX: SRT.U) (TSX: SRT.UN) (the "REIT") is pleased to announce that each of the trustee nominees listed in the management information circular of the REIT dated March 23, 2016 (the "Circular") were elected as trustees of the REIT at the annual and special meeting of unitholders held on May 11, 2016 (the "Annual and Special Meeting"). Voting results for the individual trustees of the REIT are as follows:

Name of Nominee Vote For % Withheld %
Thomas Farley 8,930,274 99.86 12,450 0.14
Colum Bastable 8,889,545 99.41 53,179 0.59
Samuel Altman 8,925,932 99.81 16,792 0.19
Patrick Flatley 8,930,274 99.86 12,450 0.14
Peter Teché 8,887,026 99.38 55,698 0.62
Blair Welch 8,895,087 99.47 47,637 0.53
Brady Welch 8,453,283 94.53 489,441 5.47

All other matters set out in the Circular were approved by the requisite majority of unitholders at the Annual and Special Meeting. Final results on all matters voted at the Annual and Special Meeting will be filed with the Canadian securities regulatory authorities and will be available on the REIT's SEDAR profile at www.sedar.com.

About Slate Retail REIT (TSX: SRT.U) (TSX: SRT.UN)
Slate Retail REIT is a real estate investment trust focused on U.S. grocery-anchored real estate. The REIT owns and operates approximately US$1 billion of assets located primarily across the top 50 U.S. metro markets. The REIT is focused on maximizing value through internal organic rental growth and strategic acquisitions. Visit slateam.com/SRT to learn more about the REIT.

About Slate Asset Management L.P. 
Slate Asset Management L.P. is a leading real estate investment platform with over $3 billion in assets under management. Slate is a value oriented company and a significant sponsor of all its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm's careful and selective investment approach creates long term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more about Slate Asset Management L.P.

Contact Information:

For Further Information
Investor Relations
Slate Asset Management L.P.
+1 416 644 4264
ir@slateam.com