Income Tax Information

• 2018 Statement of Trust Income Allocation and Designation
• 2017 Statement of Trust Income Allocation and Designation
• 2016 Statement of Trust Income Allocation and Designation

Fair Market Value of Common Shares at the Time of the REIT Conversion

Killam has determined, based on the facts and circumstances of the Arrangement, that it is appropriate for Canadian federal and provincial tax purposes to value the disposition of the Common Shares using the 5-day volume weighted average price (VWAP) for the period immediately prior to the Effective Date of the Arrangement. The 5-day VWAP prior to January 1, 2016 was $10.60.