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22+ years

of delivering value;
Cumulative dividends declared

$31.68

per share
($1.6 billion in dividends)

From November 25, 1996 to December 31, 2010 reflects distributions paid on trust units of Freehold Royalty Trust, with distribution reinvestment, and from January 1, 2011 to December 31, 2018 reflects dividends paid on common shares of Freehold, with dividend reinvestment.