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About Killam Apartment REIT

Killam Apartment REIT ("Killam", the "Trust", or the "REIT"), based in Halifax, Nova Scotia ("NS"), is one of Canada's largest residential landlords, owning, operating, managing and developing a $2.1 billion portfolio of apartments and manufactured home community ("MHC") properties. Killam was founded in 2000 to create value through the consolidation of apartments in Atlantic Canada and MHCs across Canada. Killam entered the Ontario ("ON") apartment market in 2010 and made its first investment in Alberta ("AB") in 2014. Killam broke ground on its first development in 2010 and has completed eight projects to date with a further three projects currently under construction.

Killam’s strategy to enhance value and profitability focuses on three priorities:

1) Increase earnings from the existing portfolio;

2) Expand the portfolio and diversify geographically through accretive acquisitions, targeting newer properties; and

3) Develop high-quality new properties in its core markets.

The apartment business is Killam’s largest and accounted for 91% of Killam’s net operating income ("NOI") for the six months ended June 30, 2017. As at June 30, 2017, Killam’s apartment portfolio consisted of 14,287 units, including 1,245 units jointly-owned with institutional parters. Killam's 181 apartment properties are located predominantly in Atlantic Canada's six largest urban centres - Halifax, Moncton, Saint John, Fredericton, St. John’s and Charlottetown, and in Ontario (including Ottawa, London, Toronto and Cambridge), and Calgary, Alberta. Killam is Atlantic Canada’s largest residential landlord, with a 13.5% share of multi-family rental units in its core markets. Killam plans to expand its presence in Ontario and Western Canada with additional acquisitions and developments and will also invest strategically in Atlantic Canada to maintain its market presence.

Killam also owns 5,165 MHC sites, also known as land-lease communities or trailer parks, located in Ontario and Atlantic Canada. Killam owns the land and infrastructure supporting each community and leases lots to tenants who own their own homes and pay Killam site rent. The MHC portfolio accounted for 8% of Killam’s NOI for the first six months of 2017. Killam also owns commercial properties that accounted for approximately 1% of Killam's NOI for the three and six months ended June 30, 2017.

Killam Apartment REIT is a publicly traded on the TSX under the ticker KMP.UN.  (On January 1, 2016, a plan of arrangement was completed to convert Killam Properties Inc. into a Killam Apartment REIT. Killam Properties Inc. previously traded on the TSX under the ticker KMP.)

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