Annual General MeetingMay 2, 2017

Market Square FeetMarket Availability Rate

Source: CBRE

CAL-EDM

267M9.0%

VAN

187M3.9%

REG

22M3.3%

WIN

77M4.1%

GTA

766M3.3%

GMA

302M6.8%

HAL

12M11.8%

Strong Canadian Industrial Fundamentals

TOTAL INDUSTRIAL MARKET

1.9B SF

NATIONAL AVAILABILITY

4.9%

TOTAL SUPPLY

0.5%

Dream Global REIT

-8,000,000

-4,000,000

0

4,000,000

8,000,000

12,000,000

-4.0%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017F

Growth in GDP drives demand for industrial space

GDP Growth Net Absorption

Sources: CBOC, CBRE

-4.0 %

-3.0 %

-2.0 %

-1.0 %

0.0 %

1.0%

2.0%

3.0%

4.0%

5.0% 12,000,000

8,000,000

4,000,000

0

-4,000,000

-8,000,000

Growth in GDP Drives Demand For Industrial Space

3

Our Portfolio(1)

Dream Industrial REIT

4

GLA16M

TOTAL ASSETS$1.6B

Portfolio Square FeetNOI Contribution

AB

4.0M32%

SK

0.9M7%

ON

4.9M27%

QC

3.8M20%

NS

2.6M14%

Portfolio Distribution

TENANTS1,305

PROPERTIES213

Committed Occupancy

AB

96.8%SK

98.5%

ON

97.0%

QC

97.2%

NS

90.2%

Portfolio Occupancy

OCCUPIED96%

TENANTRETENTION

86%

Quality Portfolio - Well Diversified

AVG. LEASE TERM5.2 YEARS

NOI32%

AVG. TENANTS82,000 SF

# OF TENANTS67

AVG. LEASE TERM3.4 YEARS

NOI68%

AVG. TENANTS8,000 SF

# OF TENANTS1,238

Multi - Tenant Single - Tenant

Dream Industrial Performance(1)

Dream Industrial REIT

8

Dream Global REITGeographic NOI %

Ontario27%

Saskatchewan7%

Alberta32%

Nova Scotia14%

Quebec20%

Portfolio Valuation

7.0%IMPLIED CAP RATE

Dream Global REITDebt to Total Assets

3.81%WEIGHTED AVG.

FACE RATE

50%

52%

54%

56%

2012 2013 2014 2015 2016 Q1 2017

Dream Global REITStaggered Debt Maturities

$0

$50

$100

$150

$200

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

$ M

illio

ns

Mrtg Balance Debentures

$98M CREDIT FACILITY

$123M UNENCUMBERED

ASSESTS

Dream Global REIT

$0.65

$0.67

$0.69

$0.71

IPO 2013 2014 2015 2016

Stable and Secure Distributions

8.2%DISTRIBUTION

YIELD

Dream Global REIT

$7.00

$7.05

$7.10

$7.15

$7.20

93%

94%

95%

96%

Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17

Committed Occupancy In-place Rents

Positive Leasing Momentum

94.2%AVG.

OCCUPANCY SINCE IPO

Dream Global REITPositive Leasing Momentum

-

500

1,000

1,500

2,000

2,500

3,000

2017Thousand

square feet

86%TENANT

RETENTION RATIO

2017 EXPIRIES84%

OF 2017EXPIRIES ADDRESSED

Dream Global REIT

Outlook

Dream Industrial REIT

Dream Global REIT2017 Focus

GrowthCatalyst

CapitalRecycling

OrganicGrowth

Expansion toother Markets

Development

Thank you

Dream Global REITForward looking information

This presentation may contain forward-looking information within the meaning of applicable securities legislation, including but not limited to statements relatingto Dream Industrial REIT’s objectives, strategies to achieve those objectives, its outlook, beliefs, plans, estimates, projections and intentions, and similar statementsconcerning our capital recycling program, expansion into other markets, future developments and joint ventures, in each case that are not historical facts.Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond DreamIndustrial REIT’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. Theserisks and uncertainties include, but are not limited to, general and local economic and business conditions; the financial condition of tenants; our ability torefinance maturing debt; leasing risks, including those associated with the ability to lease vacant space; and interest and currency rate functions. Our objectivesand forward-looking statements are based on certain assumptions, including that the general economy remains stable, interest rates remain stable, conditionswithin the real estate market remain consistent, competition for acquisitions remains consistent with the current climate and that the capital markets continue toprovide ready access to equity and/or debt. All forward-looking information in this presentation speaks as of the date of this presentation. Dream Industrial REITdoes not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law.Additional information about these assumptions and risks and uncertainties is contained in Dream Industrial REIT’s filings with securities regulators, including itslatest annual information form and MD&A. These filings are also available at Dream Industrial REIT’s website at www.dreamindustrialreit.ca.

Non-GAAP Measures

The Trust’s condensed consolidated financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”). In thispresentation, as a complement to results provided in accordance with IFRS, the Trust discloses and discusses certain non-GAAP financial measures, including netoperating income (“NOI”), stabilized NOI and debt to total assets as well as other measures discussed elsewhere in this presentation. These non-GAAP measures arenot defined by IFRS, do not have a standardized meaning and may not be comparable with similar measures presented by other income trusts. The Trust haspresented such non-GAAP measures as Management believes they are relevant measures of the Trust’s underlying operating performance and debt management.Non-GAAP measures should not be considered as alternatives to net income, cash generated from (utilized in) operating activities or comparable metricsdetermined in accordance with IFRS as indicators of the Trust’s performance, liquidity, cash flow, and profitability. For a full description of these measures, pleaserefer to the “Non-GAAP Measures and Other Disclosures” in Dream Industrial REIT’s Management’s Discussion and Analysis for the three months ended March 31,2017.

Footnote

(1) Information as of March 31, 2017