Mr. Mark Kenney reports

CAPREIT ANNOUNCES RELEASE OF 2023 ESG REPORT

Canadian Apartment Properties Real Estate Investment Trust has issued its fifth annual environmental, social and governance (ESG) report providing an overview of its ESG strategies, policies, and commitments, and highlighting the progress made in 2023.

Highlights of CAPREIT's 2023 ESG report include:

• Invested $30.7-million in energy-saving, resiliency and water efficiency projects in Canada;

• Achieved a 10.2-per-cent reduction in total greenhouse gas emissions compared to 2019;

• Reduced per-suite energy use by 6.1 per cent since 2022;

• Scored 70 per cent on the annual resident satisfaction survey;

• The resident recommendation score remained strong at 78 per cent;

• Published a resident bill of rights;

• Achieved 88-per-cent employee satisfaction on CAPREIT's approach to diversity and inclusion.

"We're thrilled to share the progress we've made in advancing our ESG vision in alignment with our strategic pillars to be the best place to live, work and invest," commented Mark Kenney, president and chief executive officer. "Our dedication to sustainability reflects our overarching responsibility to all of our stakeholders to implement good environmental, social and governance practices, while delivering sustainable financial returns for our investors, and providing a secure, comfortable and high-quality living experience for our residents. We encourage everyone to review our ESG report to learn more about our accomplishments, and our plans for the future."

Find out more about the progress CAPREIT's made on its ESG program in the 2023 ESG report, which can be found by visiting the CAPREIT website. Click on "About Us" and follow the link to "Our ESG Story" at the top of the page.

About Canadian Apartment Properties Real Estate Investment Trust

CAPREIT is Canada's largest publicly traded provider of quality rental housing. As at March 31, 2024, CAPREIT 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.

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