Mr. Mark Kenney reports

CAPREIT ANNOUNCES MAY 2023 DISTRIBUTION

Canadian Apartment Properties Real Estate Investment Trust today declared its May, 2023, monthly distribution in the amount of 12.083 cents per unit (or $1.45 on an annualized basis). The May distribution will be payable on June 15, 2023, to unitholders of record on May 31, 2023.

About Canadian Apartment Properties REIT

CAPREIT is Canada's largest publicly traded provider of quality rental housing. As at March 31, 2023, CAPREIT owns approximately 66,000 residential apartment suites, townhomes and manufactured home community sites well-located across Canada and the Netherlands, with approximately $17-billion of investment properties in Canada and Europe.