Press Release

FIRST CAPITAL REALTY ANNOUNCES APPOINTMENT TO ITS BOARD OF DIRECTORS


December 06, 2018

Toronto, Ontario (December 6, 2018) - First Capital Realty Inc. (“First Capital Realty” or the “Company”) (TSX: FCR), one of Canada’s largest owners, developers and managers of grocery anchored, retail-focused urban properties, announced today the appointment of Chaim Katzman as a director of the Company, effective immediately. Mr. Katzman is the founder, Chief Executive Officer and Vice Chairman of Gazit-Globe Ltd. ("Gazit-Globe") (NYSE; TASE: GZT), a global owner of high-quality properties with approximately $17.6 billion in assets, which currently holds 31.3% of the Company. Since 1991, Mr. Katzman has also served as the Chief Executive Officer of Norstar Holdings Inc. which holds a controlling interest in Gazit-Globe.

Previously, Mr. Katzman served as the Company's Chairman from 2000 to 2015 and as a director of the Company from August 18, 2000 until May 30, 2017. Mr. Katzman resigned from the Company’s board in 2017 upon his appointment as Non-Executive Vice Chair of Regency Centers Corporation to comply with proxy advisory recommendations related to the number of public boards on which a director should concurrently serve. Mr. Katzman no longer serves on the board of Regency Centers Corporation.

"We welcome Chaim’s return to the board and look forward to benefitting from his global real estate experience and ability to contribute toward First Capital Realty’s accelerated growth", said Adam Paul, Chief Executive Officer of the Company.

ABOUT FIRST CAPITAL REALTY (TSX: FCR)

First Capital Realty is one of Canada’s largest owners, developers and managers of grocery anchored, retail-focused urban properties where people live and shop for everyday life. The Company currently owns interests in 167 properties, totaling approximately 25.5 million square feet of gross leasable area.

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For further information:

Adam Paul

President & CEO

(416) 216-2081

adam.paul@fcr.ca

Kay Brekken

Executive Vice President & CFO

(416) 216-2051

kay.brekken@fcr.ca

www.fcr.ca

TSX: FCR