BOARDWALK REIT ANNOUNCES VOTING RESULTS FROM 2022 ANNUAL GENERAL MEETING OF UNITHOLDERS

CALGARY, AB, May 10, 2022 /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 9, 2022 (the "Meeting"), which included the election of all the trustee nominees listed in the Trust's management information circular dated March 18, 2022.  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 41,679,586, representing 82.58% 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
41,228,736	99.70%	123,800	0.30%	Carried

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

Trustee	Proxy Votes For	Percent %	Proxy Votes Withheld	Percent %	Outcome
Mandy Abramsohn	41,101,576	99.39%	250,960	0.61%	Carried
Andrea Goertz	38,641,162	93.44%	2,711,374	6.56%	Carried
Gary Goodman	40,197,407	97.21%	1,155,129	2.79%	Carried
Sam Kolias	40,138,392	97.06%	1,214,144	2.94%	Carried
Samantha Kolias-Gunn	40,951,769	99.03%	400,767	0.97%	Carried
Scott Morrison	41,081,292	99.34%	271,244	0.66%	Carried
Brian G. Robinson	37,501,983	90.69%	3,850,553	9.31%	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
39,867,778	95.65%	1,811,808	4.35%	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
40,139,306	97.07%	1,213,230	2.93%	Carried

CORPORATE PROFILE

Boardwalk REIT strives to be Canada's friendliest community provider 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^tm.  Our three-tiered and distinct brands: Boardwalk Living, Boardwalk Communities, and Boardwalk Lifestyle, cater to a large 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 cash flow and investment returns, stable monthly distributions, and value creation for all our stakeholders.

Boardwalk REIT's Trust 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.

For more information, please contact Boardwalk Investor Relations at 403-531-9255 and/or [email protected].

SOURCE Boardwalk Real Estate Investment Trust