Mr. Philip Fraser reports

KILLAM APARTMENT REIT ANNOUNCES 2025 GRESB SCORE

Killam Apartment Real Estate Investment Trust today released its 2025 GRESB score, based on the 2024 reporting year. Killam achieved a score of 82 out of a maximum possible 100 for its standing investments, marking a three-point year-over-year improvement in its environmental, social and governance (ESG) performance.

"As an owner and operator of residential real estate with a goal of long-term ownership, Killam considers sustainability integral to its corporate strategy," said Philip Fraser, president and chief executive officer. "By embedding sustainability into our operations, we're creating value for our residents, investors and communities while reducing our environmental impact."

Killam's key initiatives contributing to this achievement include:

• Energy, emissions and water reductions: year-over-year decreases in energy consumption, greenhouse gas emissions and water usage across its portfolio;
• Enhanced waste reporting: expanded waste data coverage from 52 per cent in 2023 to 82 per cent in 2024 through collaboration with waste haulers;
• Building certifications: increased the percentage of Killam's portfolio certified by the certified rental building program from 28 per cent in 2023 to 51 per cent in 2024;
• ESG training: increased the percentage of its employees who received ESG training, strengthening organizational awareness and engagement in sustainability practices.

About Killam Apartment Real Estate Investment Trust

Killam Apartment REIT, based in Halifax, N.S., is one of Canada's largest residential real estate investment trusts, owning, operating 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: 1) increasing earnings from existing operations, 2) expanding the portfolio and diversifying geographically through accretive acquisitions which target newer properties and through the disposition of non-core assets, and 3) developing high-quality properties in its core markets.