Dr. Gina Cody reports

CAPREIT ANNOUNCES DEPARTURE OF CHIEF INVESTMENT OFFICER

Canadian Apartment Properties REIT's Julian Schonfeldt will be leaving the REIT, effective on or about April 30, 2026, to pursue other opportunities after a distinguished career at the REIT as chief investment officer.

Mr. Schonfeldt joined the REIT in 2022 as its inaugural chief investment officer, bringing extensive capital markets expertise from his previous role as managing director in the global investment banking group at RBC Capital Markets. Mr. Schonfeldt played a key role in advancing the REIT's strategic initiatives, including acquisitions, dispositions, capital allocation, development and investor relations. During his tenure at the REIT, Mr. Schonfeldt executed over $6-billion of strategic transactions.

"It is with sincere gratitude that we announce Julian's departure, after several years of exceptional service," said Mark Kenney, president and chief executive officer of the REIT. "Julian has significantly advanced our strategic goals and we celebrate his contributions while wishing him continued success in his future endeavours."

About Canadian Apartment Properties REIT

The REIT is Canada's largest publicly traded provider of quality rental housing. As at Sept. 30, 2025, the REIT owns approximately 45,000 residential apartment suites and townhomes that are well-located across Canada and, to a lesser extent, the Netherlands, with a total fair value of approximately $14.5-billion.

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