Mr. Mark Kenney reports

CAPREIT ANNOUNCES JUNE 2023 DISTRIBUTION

Canadian Apartment Properties REIT has declared its June, 2023, monthly distribution in the amount of 12.083 cents per unit (or $1.45 on an annualized basis). The June distribution will be payable on July 17, 2023, to unitholders of record on June 30, 2023.

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, townhouses and manufactured home community sites located across Canada and the Netherlands, with approximately $17-billion of investment properties in Canada and Europe. Since its initial public offering in May, 1997, CAPREIT has increased monthly cash distributions per unit by 103 per cent.