CAPREIT Announces Results of 2024 Annual General Meeting

Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN) (“CAPREIT”) announced today that, at its Annual Meeting of Unitholders held today (the “Meeting”), each of the items of business referred to in its management information circular dated April 11, 2024 (the “Circular”) were passed by a vote held by ballot.

A total of 113,635,302 units and special voting units of CAPREIT (collectively, “Units”), in the aggregate, representing 67.34% of CAPREIT’s issued and outstanding Units were voted in connection with the Meeting. The voting results for each item of business are as follows:

Election of Trustees:

All nominees proposed in the Circular were elected as trustees.

Nominee	Votes For	% Votes For	Votes Withheld	% Votes Withheld
Lori-Ann Beausoleil	113,088,338	99.88%	134,023	0.12%
Harold Burke	108,252,084	95.61%	4,970,277	4.39%
Gina Parvaneh Cody	108,166,422	95.53%	5,055,939	4.47%
Mark Kenney	108,824,589	96.12%	4,397,572	3.88%
Gervais Levasseur	111,059,130	98.09%	2,163,231	1.91%
Ken Silver	111,131,246	98.15%	2,091,115	1.85%
Jennifer Stoddart	110,452,677	97.55%	2,769,684	2.45%
Elaine Todres	107,860,437	95.26%	5,361,924	4.74%
René Tremblay	111,060,459	98.09%	2,161,902	1.91%

Appointment of Auditors

	Votes For	% Votes For	Votes Withheld	% Votes Withheld
Ernst & Young LLP, Chartered Professional Accountants	113,431,197	99.82%	206,850	0.18%

Advisory Vote on Executive Compensation

A non-binding advisory vote to accept CAPREIT’s approach to executive compensation was approved.

Votes For	% Votes For	Votes Against	% Votes Against
105,216,982	92.93%	8,005,379	7.07%

About CAPREIT

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. For more information about CAPREIT, its business and its investment highlights, please visit our website at www.capreit.ca and our public disclosure which can be found under our profile at www.sedarplus.ca.

For more information, please contact:

CAPREIT Mr. Mark Kenney President & Chief Executive Officer [phone]

CAPREIT Mr. Stephen Co Chief Financial Officer [phone]

CAPREIT Mr. Julian Schonfeldt Chief Investment Officer [phone]