Ms. Claire Hawksworth reports

KILLAM APARTMENT REIT ANNOUNCES VOTING RESULTS FROM 2023 ANNUAL MEETING OF UNITHOLDERS

Killam Apartment Real Estate Investment Trust has released the voting results of matters voted on at its annual meeting of unitholders, which was held in Halifax on May 5, 2023. The voting results of each of the matters considered at the meeting are presented herein.

1) Election of trustees

All candidates proposed in the management proxy circular dated March 28, 2023, were elected as trustees. The voting results of the trustees were as shown in an attached table.

2) Appointment of auditor

Ernst & Young LLP was reappointed as the auditor of Killam, to hold office until the next annual meeting of unitholders at remuneration to be fixed by the board of trustees. The voting results for the reappointment of the auditor were as shown in an attached table.

Votes for      % for   Votes withheld    % withheld

73,036,951    92.28%        6,111,544        7.72 % 

3) Executive compensation advisory vote

The non-binding advisory say-on-pay resolution on executive compensation was approved. The voting results for the executive compensation advisory vote were as shown in an attached table.

Votes for     % for   Votes against    % against

72,645,470   91.78%       6,503,025        8.22% 

About Killam Apartment Real Estate Investment Trust

Killam Apartment, based in Halifax, N.S., is one of Canada's largest residential real estate investment trusts, owning, operating, managing and developing a $4.9-billion portfolio of apartments and manufactured home communities. Killam's strategy to enhance value and profitability focuses on three priorities: (1) increasing earnings from existing operations; (2) expanding the portfolio and diversifying geographically through accretive acquisitions, with an emphasis on newer properties; and (3) developing high-quality properties in its core markets.