2015 Annual Meeting
May 13, 2015
David Kaufman
Chairman of the Board
Michael Cooper
Portfolio Manager
o  In early 2014 Dream acquired the right to manage four
funds that had diﬃculties meeting their investment and
liquidity objectives and were facing many structural issues
o  We restructured and launched the funds as Dream
Alternatives Trust (“DAT”) on July 8, 2014 with
$1 billion in gross assets
DAT is structured so that it
has tremendous flexibility
which allows us to be
opportunistic in our
investment decisions
DAT Portfolio
708
$
Million
in Portfolio
Net Assets
168
$
Million
Development &
Investment Holdings
151
$
Million
Mortgages
and Loans
63
$
Million
Renewable
Power Assets
Million
250
Income Properties
$
Co-owned with
Dream Oﬃce REIT
6.2
%*
Tax Eﬃcient
Current Yield
Income
Producing
Properties
Development
& Investment
Holdings
Lending
Portfolio
Renewable
Power
Goals at listing in July 2014
①  Provide an opportunity for investors to invest in hard asset
alternative investments including renewable power
②  Provide predictable, sustainable tax eﬃcient cash
distributions
③  Grow and reposition the portfolio to increase the cash
flow and distributions over time
④  Build and maintain a growth oriented portfolio
⑤  Increase liquidity for unitholders
Development
Renewable Power
Growth
Increase Distributions
over time
Sustainable
Distributions
Lending
Income
Properties
Hard Assets &
Renewable Power
Goals
8
$63 million in
renewable
power assets
12% of portfolio
expected in
renewable
power assets at
December 31,
2015
Estimated
return on
equity of
12% over the
life of the
projects
All of our renewable power projects have a 20 year
purchase agreement with the government or a
regulated utility to sell electricity at a fixed
contract rate above market rate, providing stable
and predictable cash flows to the Trust
As both a landlord and a solar power investor, DAT is well positioned
in the Ontario rooftop solar space to develop new commercial
partnerships as well as develop solar projects on existing properties.
Dream
Alternatives
Income Properties
Our real estate provides stable, high quality
cash flows.
We work cooperatively with Dream Oﬃce REIT
on proactive asset management strategies to
maximize the value of the portfolio.
Income Properties at a Glance
19
Properties
Co-owned with
Dream Oﬃce REIT
4.9 Years
Million
2.1
282
Square Feet GLA
Diversified
at our share
Weighted Average
Remaining Lease Term
Tenants
%
91.2
Committed and In-place
Occupancy
Case Study: London City Centre, 324,645 sf*
Value added through our asset and portfolio management
strategies through our partnership with Dream Oﬃce REIT
o  New lease for 145,000* sf to TD Bank
o  9 year term
o  Rental Rates119% above expiring
* At DAT’s share
Case Study: 219 Laurier, Ottawa, 112,670 sf*
o  New lease for 77,000*
square feet to a federal
government tenant
o  15 year term
* At DAT’s share
We finance properties in the commercial real estate
sector with lower risk profiles and where we are
comfortable with both the asset and the borrower
Lending Portfolio – Risk Diversification
60%
July 2014
50%
40%
30%
20%
10%
0%
Hotels/Hospitality
Land
Corporate Loan
/Other
Retirement Home
Industrial
(Self Storage)
Multi-Residential
Retail
Lending Portfolio – Risk Diversification
Overall
interest rate
lowered by
bps2015
July 2014 x Q1
60%
50%
40%
30%
20%
10%
0%
Hotels/Hospitality
Land
Corporate Loan
/Other
Retirement Home
Industrial
(Self Storage)
Multi-Residential
Retail
Lending Portfolio Increased Yield
9.50%
8.94%
9.00%
8.38%
8.50%
8.00%
20
8.02%
7.7%
7.50%
7.00%
Interest Rate at launch
30-Sep
31-Dec
31-Mar
Lending Portfolio Case Study: Bloor & Sherbourne
o  $4.5 Million
o  66% LTV
Bloo
et
r Stre
o  3 Years
o  10% Eﬀective Rate
of Interest
Investment Holdings Development
Long term growth in cash flow and net asset
value should come from the completion of the
development and investment holdings.
Investment Holdings Development
And the experience of Dream combined with
partnerships with strong developers
like Empire Communities
22
Andrew Guizzetti
Co-Founder & CFO
Empire Communities
Our History
Roots in
Construction
Industry
Lands for first
master planned
community
acquired
Launch of
Empire
Communities
First
condominium
project in
Richmond Hill
Early
commitment to
building green
Acquisition
of TFN
Realty
Launch of Eau
Du Soleil and
Texas land
company
8 master
planned
communities
and Yorkville
to launch
20 Year Snapshot
Recent Developments
Eau du Soleil: Snapshot
Site Plan Agreement imminent
Tower 1 Approved for 63 storeys
Tower 2 Approved for 49 storeys
Eau du Soleil: Snapshot
Ground breaking scheduled May 23rd
Shoring and excavating schedule to follow
Eau du Soleil: Snapshot
954 units sold as of end of Q1
Eau du Soleil: Snapshot
Marketing campaign to follow oﬃcial grand
opening of Sales Centre
Snapshot: Market Comparative
Eau Du Soleil
Etobicoke Waterfront
GTA
1
15
452
Total Units
1258
5738
110,591
Total Sales
954 (76%)
4,776
91,074
301
962
19,517
$661
$590
$590
Avg. SF
650
766
821
Avg. $
$422,160
$452,240
$484,695
Active Projects
Remaining Inventory
Avg. $/SF
Eau du Soleil Sales Centre
Eau du Soleil Broker Sales Event
Eau du Soleil: Scale Models
Eau Du Soleil
– Scale Model
Eau du Soleil - Location
Best
Position
Lakeside - Snapshot
Planning
- 
Applications for the Draft Plan of Subdivision and Zoning
By-law Amendments Approved for a total of 687
residential units.
Sales
- 
362 units sold as of end of Q1
- 
First closings scheduled for Q2
Construction
- 
Phase 1 serviced
- 
Phase 2 servicing to start with Financing in June
Marketing
- 
Ongoing marketing activities to drive traﬃc to sales
centre or website for registration
Lakeside: Aerial
Lakeside: Sales Centre (Brampton)
Lakeside: Inside Sales Centre
Lakeside: Construction
Pauline Alimchandani
Chief Financial Oﬃcer
Financial Snapshot
Adjusted Net Asset Value* Per Segment
$10.00
Cash & Other
$7.50
$5.00
$2.50
Tax
Eﬃcient
85% ROC
in 2014
$50
million
Undrawn
Credit
Facility
Debt to
Gross
Asset
26.45%
$1
Billion
in total
assets
Renewable Power
Development &
Investment Holdings
Lending Portfolio
Income Properties
$0
* As of March 31, 2015
$9.70
Adjusted
Net Asset
Value
per Unit
Opportunity and Growth in our Adjusted
Funds Available for Distribution (“AFAD”)
Last six months
Annualized
AFAD $0.34
27% Leverage
$150M
Invested and
Committed
$93M Cash
9.6% Yield
Invest
remaining
cash
Development
and
Investment
Holdings
How DAT Has Improved Our Communications With
Investors Across the Entire Dream Platform
o  1,400 Investment Advisors
o  300 Institutional Investors
o  National Retail Calls
o  Strategy Updates
Overview
o  We have gone from completing a prospectus and a complex reorganization to
successfully setting up, and integrating a $1 billion company within our platform
in a very short period of time
o  We have made several improvements in our disclosures and are continuously
enhancing transparency within our public disclosures
o  Leverage Dream platform, expertise and relationships to source investment
opportunities
o  We have a cohesive team which leverages oﬀ expertise within the broader Dream
platform such as tax, debt, treasury, legal and investor relations.
o  Increased awareness of the value of our business to financial institutions and
institutional investors
Thank you
Dream Alternatives Trust – Non-IFRS Measures & Forward Looking Information
Forward Looking Information
This presentation may contain forward-looking information within the meaning of applicable securities legislation including but not limited to the acquisition of our expected return
on our future renewable power projects and the timing of commencement and completion of our retail and residential development projects. 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 the Trust’s control, which could cause actual results to diﬀer
materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to general and local economic
and business conditions, employment levels, mortgage and interest rates and regulations, regulatory risks, environmental risks, consumer confidence, the financial condition of
tenants and borrowers, local real estate conditions, adverse weather conditions and variability in wind conditions and solar irradiation, reliance on key clients, partners and
personnel, the uncertainties of acquisitions and new projects, inflation and competition. All forward looking information in this presentation speaks as of May 12, 2015. The Trust
does not undertake to update any such forward looking information whether as a result of new information, future events or otherwise. Additional information about these
assumptions and risks and uncertainties is disclosed in filings with securities regulators filed on SEDAR (www.sedar.com). These filings are also available at the Trust’s website at
www.dreamalternatives.ca.
Non-IFRS Measures
The Trust’s consolidated financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”). In this presentation, as a complement to
results provided in accordance with IFRS, the Trust discloses and discusses certain non-IFRS financial measures including adjusted funds available for distribution (“AFAD”),
annualized AFAD, debt-to-gross book value, adjusted net asset value per unit, and yield, as well as other measures discussed elsewhere in this release. These non-IFRS measure are
not defined by IFRS, do not have a standardized meaning and may not be comparable with similar measures presented by other issuers. The Trust has presented such non-IFRS
measures as Management believes they are relevant measures of our underlying operating performance and debt management. Non-IFRS measures should not be considered as
alternatives to net income, total comprehensive income or cash flows generated from operating activities or comparable metrics determined in accordance with IFRS as indicators
of the Trust’s performance, liquidity, cash flow and profitability. For a full description of these measures and where applicable a reconciliation to the most directly comparable
measure calculated in accordance with IFRS please refer to the “Non-IFRS Measures” in the Trust’s Management’s Discussion and Analysis for the year ended March 31, 2015.