Mr. Mark Kenney reports

CAPREIT ANNOUNCES INCREASED AUGUST 2024 DISTRIBUTION

Canadian Apartment Properties REIT has declared its August, 2024, monthly distribution in the amount of 12.5 cents per unit (or $1.50 on an annualized basis). The August, 2024, distribution will be payable on Sept. 16, 2024, to unitholders of record at the close of business on Aug. 30, 2024.

About Canadian Apartment Properties REIT

Canadian Apartment is Canada's largest publicly traded provider of quality rental housing. As at June 30, 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 $16.6-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 110 per cent.