Mr. Mark Kenney reports

CAPREIT ANNOUNCES MAY 2024 DISTRIBUTION

Canadian Apartment Properties REIT has declared its May, 2024, monthly distribution in the amount of 12.084 cents per unit (or $1.45 on an annualized basis). The May, 2024, distribution will be payable on June 17, 2024, to unitholders of record at the close of business on May 31, 2024.

About Canadian Apartment Properties REIT

Canadian Apartment is Canada's largest publicly traded provider of quality rental housing. As at March 31, 2024, Canadian Apartment owns approximately 64,200 residential apartment suites, townhomes and manufactured home community sites well located across Canada and the Netherlands, with approximately $16.7-billion of investment properties in Canada and Europe. Since its initial public offering in May, 1997, Canadian Apartment has grown monthly cash distributions per unit by 103 per cent.