Boardwalk Reit Announces Voting Results From 2021 Annual General Meeting of Unitholders

CALGARY, AB, May 13, 2021 /CNW/ - Boardwalk Real Estate Investment Trust (TSX: BEI.UN) (the "Trust") announced today the results of matters voted on at its annual general meeting of unitholders held via live audio webcast on May 13, 2021 (the "Meeting"), which included the election of all the trustee nominees listed in the Trust's management information circular dated March 23, 2021.  The voting results for each of the matters considered at the Meeting are presented below.  All resolutions were conducted by ballot.

The total number of units (or Class B Units ("LP B Units") of Boardwalk REIT Limited Partnership exchangeable into units) represented by unitholders present in person or by proxy at the meeting was 36,284,433, representing 71.11% of the Trust's outstanding units (including the LP B Units).

1.  Number of Trustees – The resolution to fix the number of Trustees to be elected at the meeting at no more than seven was passed as follows:

Votes For	Proxy % For	Votes Against	Percent % Against	Outcome
35,854,255	99.66%	123,916	0.34%	Carried

2.  Election of Trustees – The following seven nominees were elected as trustees by resolution passed by a majority of the unitholders:  Scott Morrison, Gary Goodman, Arthur L. Havener, Jr., Sam Kolias, Samantha Kolias-Gunn, Brian G. Robinson and Andrea Goertz.  Each of the trustees received the following votes for their election:

Trustee	Proxy Votes For	Percent %	Proxy Votes Withheld	Percent %	Outcome
Andrea Goertz	34,750,205	96.59%	1,227,966	3.41%	Carried
Gary Goodman	35,254,548	97.99%	723,623	2.01%	Carried
Arthur L. Havener, Jr.	32,459,031	90.22%	3,519,140	9.78%	Carried
Sam Kolias	34,577,100	96.11%	1,401,071	3.89%	Carried
Samantha Kolias-Gunn	35,622,573	99.01%	355,598	0.99%	Carried
Scott Morrison	35,863,759	99.68%	114,412	0.32%	Carried
Brian G. Robinson	33,490,718	93.09%	2,487,453	6.91%	Carried

3.  Appointment of Auditors – Deloitte LLP was reappointed as the auditor of the Trust (and the trustees were authorized to fix their remuneration) by resolution passed as follows:

Proxy Votes For	Proxy % For	Proxy Votes Withheld	Percent % Withheld	Outcome
35,609,863	98.14%	674,570	1.86%	Carried

4.  Executive Compensation Advisory Note – The resolution, on an advisory, non-binding basis, to accept the approach to executive compensation disclosed in the "Compensation Discussion and Analysis" section of the management information circular of the Trust dated March 23, 2021 was passed as follows:

Votes For	Proxy % For	Votes Against	Percent % Against	Outcome
35,230,542	97.92%	747,629	2.08%	Carried

CORPORATE PROFILE

Boardwalk REIT strives to be Canada's friendliest landlord and is a leading owner/operator of multi-family rental communities. Providing homes in more than 200 communities, with over 33,000 residential units totaling over 28 million net rentable square feet, Boardwalk has a proven long-term track record of building better communities, where love always lives™. Our three-tiered and distinct brands: Boardwalk Living, Boardwalk Communities and Boardwalk Lifestyle, cater to a large and diverse demographic and has evolved to capture the life cycle of all Resident Members. Boardwalk's disciplined approach to capital allocation, acquisition, development, purposeful re-positioning and management of apartment communities allows the Trust to provide its brand of community across Canada creating exceptional Resident Member experiences. Differentiated by its peak performance culture, Boardwalk is committed to delivering exceptional service, product quality and experience to our Resident Members who reward us with high retention and market leading operating results, which in turn, lead to higher free cashflow and investment returns, stable monthly distributions and value creation for all our stakeholders.

Boardwalk REIT's units are listed on the Toronto Stock Exchange, trading under the symbol BEI.UN.  Additional information about Boardwalk REIT can be found on the Trust's website at www.bwalk.com/investors.

SOURCE Boardwalk Real Estate Investment Trust

Boardwalk Investor Relations at 403.531-9255 and/or [email protected]

Related Links

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