Mr. Philip Fraser reports

KILLAM APARTMENT REIT RELEASES 2024 ENVIRONMENTAL, SOCIAL, AND GOVERNANCE REPORT

Killam Apartment Real Estate Investment Trust has released its 2024 environmental, social and governance (ESG) report, providing a comprehensive overview of Killam's ESG priorities and measurable impact.

"While the landscape around ESG has evolved over the past number of years, our focus remains consistent," noted Philip Fraser, president and chief executive officer. "We believe that prioritizing environmental stewardship, social responsibility and strong governance is not just good for our residents, employees and other stakeholders, it is essential for the long-term success and well-being of our business."

Key highlights from Killam's 2024 ESG report include:

• Energy efficiency: allocated $6.8-million toward energy efficiency projects, including the installation of photovoltaic solar panels at five additional properties and its first virtual net metering project;
• Greenhouse gas emissions: reduced total emissions by 4.4 per cent and carbon intensity by 2.2 per cent compared with 2023;
• Building certifications: achieved certification of over 50 per cent of its apartment portfolio through the certified rental building program;
• Affordability: contributed $3.6-million toward affordability assistance;
• Community contributions: provided $419,000 in support to community organizations, including the launch of a new funding partnership with the Dartmouth General Hospital Foundation;
• Diversity and inclusion: received recognition as an Employer of Diversity by Atlantic Business Magazine and an Inclusive Workplace by Best Companies Group;
• Transparency and responsible leadership: ranked No. 1 in GRESB's North American Residential Public Disclosure Report, named one of"Canada's Most Responsible Companies by Newsweek and Statista and featured on Sustainalytics' ESG Top-Rated Companies List.

Killam's 2024 ESG report is aligned with: (i) the Global Reporting Initiative (GRI) 2021 Universal Standards; (ii) the Sustainability Accounting Standards Board (SASB) Real Estate Standard; (iii) the Task Force on Climate-related Financial Disclosures (TCFD) recommendations; and (iv) the United Nations Sustainable Development Goals.

Killam's 2024 ESG report can be found on the REIT's website.

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 $5.5-billion portfolio of apartments and manufactured home communities. Killam's strategy to enhance value and profitability focuses on three priorities: (i) increasing earnings from existing operations; (ii) expanding the portfolio and diversifying geographically through accretive acquisitions that target newer properties and through the disposition of non-core assets; and (iii) developing high-quality properties in its core markets.

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