* As of April 30, 2019

As at May 13, 2019

Dream has a 50% ownership interest

Dream has a 50% ownership interest

Dream has a 50% ownership interest

March 31, 2019($000's)

AssetManagement

Stabilized Income Generating

Assets

Urban development (Toronto & Ottawa)

Western Canada Community

Development

Corporate& Other

Dream Standalone

March 31, 2019($000's)

AssetManagement

Stabilized Income Generating

Assets

Urban development (Toronto & Ottawa)

Western Canada Community

Development

Corporate& Other

Dream Standalone

$1,096

$2,103

32.4% 35.4%

20%

30%

40%

50%

Consensus NAV

(1) - Total equity per share is calculated based on total shareholder’s equity, including SDC’s non-controlling interest for years prior to December 31, 2018

(2) – Dream on a standalone basis.

$3.73/share

$5.22/share

$6.38/share

$7.39/share

$8.42/share

$9.33/share

to March 31, 2019

$9.47/share

Michael CooperPresident & CRO416.365.5145mcooper@dream.ca

Pauline AlimchandaniEVP & CFO416.365.5992palimchandani@dream.ca

http://www.sedar.com/