CAPREIT Recognized as a TIME 2-Year Champion for Canada's Best Companies. CAPREIT, one of Canada's leading rental housing providers, is proud to announce that it has once again been named one of TIME's Canada's Best Companies 2026. This marks the second consecutive year the organization has received this prestigious recognition and earned the distinction of TIME 2-Year Champion. Developed by TIME Magazine in partnership with Statista, the annual ranking recognizes organizations that demonstrate strong performance across three key dimensions: Employee Satisfaction, Revenue Growth, and Sustainability Transparency (ESG). A recognition built on people, performance, and purpose. Canada's Best Companies evaluates organizations through a comprehensive methodology that combines independent employee feedback, business growth metrics, and environmental, social, and governance (ESG) performance indicators. Companies are assessed using anonymous employee survey data, revenue growth performance, and publicly available sustainability and governance information. The ranking reflects what defines successful organizations today: strong workplace cultures, sustainable business practices, and continued growth. Companies considered for the ranking must be headquartered in Canada and generate more than US$100 million in annual revenue. For CAPREIT, this recognition reinforces the importance of staying focused on the people and communities Capreit serve while continuing to grow responsibly. A reflection of its people. Receiving this recognition for a second consecutive year would not be possible without the dedication of its employees across Canada. Every day, its teams work to create positive experiences for residents, support one another, and contribute to building vibrant communities where people feel at home. Their commitment, professionalism, and care are at the heart of everything Capreit do. This recognition also reflects the trust its residents place in CAPREIT and the strong partnerships Capreit has built with stakeholders, vendors, and communities across the country. Looking ahead. Being recognized once again by TIME underscores CAPREIT's continued commitment to putting people first, fostering strong workplace culture, operating responsibly, and creating sustainable long-term value. As Capreit continue to grow, these principles will remain central to how Capreit serve its residents, support its employees, and contribute to the communities where Capreit operate. To its employees, residents, partners, and stakeholders: thank you for being part of this journey. This achievement belongs to everyone who contributes to making CAPREIT a trusted housing provider, a responsible corporate citizen, and a great place to work. Together, Capreit will continue building communities where people can live, work, and thrive.

Cutsey to Succeed Kenney as CEO of CAPREIT. Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) has announced that president and CEO Mark Kenney will retire on July 2 and be succeeded by Brad Cutsey. Kenney will also resign from the board, with Cutsey set to join it on the same date. "I have greatly enjoyed the nearly 30 years I have spent with CAPREIT," said Kenney. "I would like to thank our board and management for their collaboration and partnership throughout my time as CEO. I know that with Brad, the REIT is in good hands and well-positioned for the future. I continue to be invested in CAPREIT's success and will remain engaged throughout the transition process, supporting Brad and our management team." Board chair Gina Parvaneh Cody said Kenney "has led the REIT through significant growth and change, and his impact will be lasting. "We will miss his leadership, judgment, and steady hand very much, and we are sincerely thankful for everything he has given to CAPREIT," Cody added. The Toronto-based REIT said the board retained a global leadership advisory firm as part of its succession planning process after Kenney indicated he was considering retirement. Following what it described as a lengthy and thorough search process, the board unanimously selected Cutsey as the new president and CEO. Cutsey most recently served as CEO of Toronto-based InterRent REIT. He has nearly 30 years of experience in real estate and capital markets, including previous roles as president of InterRent, group head of real estate investment banking and equity research analyst with major financial institutions. CAPREIT said he has advised on billions of dollars in real estate transactions, financings and the creation of several publicly listed REITs. "I'm excited to step into this role and lead a company recognized as Canada's preeminent residential REIT," said Cutsey. "As the market continues to evolve, our focus will be on maintaining strong liquidity, executing disciplined portfolio management, and delivering a high-quality product for our residents. We remain committed to driving stable, long-term cash flow growth through organic initiatives and the selective pursuit of strategic opportunities that create value for our investors." Cody said the board believes continuity within the senior leadership team, combined with Cutsey's experience and leadership style, "positions the organization extremely well for the future." Cutsey resigned from Toronto-based InterRent in March, also leaving its board, with the REIT saying that he was going to pursue the next chapter in his career. Dave Nevins was appointed as interim CEO. Nevins is InterRent's chief operating officer. As of March 31, CAPREIT owned approximately 45,400 residential apartment suites and townhomes across Canada and the Netherlands, with a total fair value of about $14.5 billion. Pictured: Tours Chapdelaine in Quebec City Photo: City of Quebec Photo: CAPREIT Inside the story. Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember. * | Lease * | Sale/Acquisition * | Financing