Acquisition by Blackstone Real Estate Investment Trust:

IMPORTANT NOTE: In October 2021, an affiliate of Blackstone Real Estate Investment Trust (Blackrock) acquired WPT Industrial REIT (WPT) in a series of transactions that resulted in unitholders receiving US$22.00 per unit. The US$22.00 "Consideration" was paid as follows: US$1.11 per unit as a "Special Distribution"; US$16.676 as the "Final Distribution" and US$4.214 per unit as the "Unit Acquisition Price". Consistent with the tax reporting by WPT to CDS, ACB Tracking Inc. has included the "Special Distribution" and the "Final Distribution" (amounts as detailed above) in our data base. Page 101 of the Management Information Circular dated September 2nd for the acquisition of WPT by Blackrock states the following: "Proceeds of disposition will not include any amount paid by the REIT as part of the "Special Distribution" or "Final Distribution". This implies "Proceeds of Disposition" to be US$4.214 per unit. The tax implications of the "Special" and "Final Distributions" should be reported separately. However, we believe some dealers are reporting "Proceeds of Disposition" as being the sum of the "Final Distribution" and the "Unit Acquisition Price", that being US$20.89 per unit. To ensure that "double counting" does not occur, users of ACB Tracking should be aware that the inclusion of the "Special Distribution" or the "Final Distribution" should not be part of the "Proceeds of Disposition". This does not apply to holders who disposed of positions prior to the acquisition of the REIT by Blackstone.