Mr. Mark Kenney reports

CAPREIT ANNOUNCES RESULTS OF 2024 ANNUAL GENERAL MEETING

At Canadian Apartment Properties REIT's annual meeting of unitholders held today, each of the items of business referred to in its management information circular dated April 11, 2024, was passed by a vote held by ballot.

A total of 113,635,302 units and special voting units of Canadian Apartment in the aggregate, representing 67.34 per cent of Canadian Apartment's issued and outstanding units, were voted in connection with the meeting. The voting results for each item of business are provided in this news release.

Election of trustees

All nominees proposed in the circular were elected as trustees.

Appointment of auditor

Advisory vote on executive compensation

A non-binding advisory vote to accept Canadian Apartment's approach to executive compensation was approved.

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.