CAPREIT Announces Election of Trustees

TORONTO, June 2, 2021 /CNW/ - (TSX: CAR.UN) - Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") announced today that, at its Annual Meeting of Unitholders held today, each of the items of business referred to in its management information circular dated April 15, 2021 were passed by a vote held by ballot.

The voting results for each item of business are as follows:

Election of Trustees:

Nominee	Votes For	% Votes For	Votes Withheld	% Votes Withheld
Lori-Ann Beausoleil	113,452,554	99.92%	93,664	0.08%
Harold Burke	108,381,474	95.45%	5,164,744	4.55%
Gina Cody	112,415,342	99.00%	1,130,876	1.00%
Mark Kenney	113,279,503	99.77%	266,715	0.23%
Poonam Puri	112,196,557	98.81%	1,349,661	1.19%
Jamie Schwartz	112,284,041	98.89%	1,262,177	1.11%
Michael Stein	86,337,995	76.04%	27,208,223	23.96%
Elaine Todres	112,822,189	99.36%	724,029	0.64%
René Tremblay	113,089,940	99.60%	456,278	0.40%

Appointment of Auditors

	Votes For	% Votes For	Votes Withheld	% Votes Withheld
PricewaterhouseCoopers, LLP, Chartered Professional Accountants	105,631,610	92.65%	8,374,269	7.35%

Advisory Vote on Executive Compensation

A non-binding advisory vote to accept CAPREIT's approach to executive compensation was approved.

Votes For: 110,078,598
Votes Against: 3,467,620

About CAPREIT

CAPREIT is Canada's largest publicly traded provider of quality rental housing. CAPREIT currently owns or has interests in approximately 68,500 residential apartment suites, townhomes and manufactured housing community sites well-located across Canada, the Netherlands and Ireland. For more information about CAPREIT, its business and its investment highlights, please refer to our website at www.caprent.com or www.capreit.net and our public disclosure which can be found under our profile at www.sedar.com.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

All statements in this press release that do not relate to historical facts constitute forward-looking statements within the meaning of applicable securities legislation. These statements represent CAPREIT's intentions, plans, expectations and beliefs and are based on a number of assumptions and subject to a number of risks and uncertainties, many of which are beyond CAPREIT's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the factors discussed in CAPREIT's current Annual Information Form as well as under the "Risks and Uncertainties" section of the MD&A released on February 24, 2021, both of which are available on SEDAR at www.sedar.com. Subject to applicable law, CAPREIT does not undertake any obligation to publicly update or revise any forward-looking information.

SOURCE Canadian Apartment Properties Real Estate Investment Trust (CAPREIT)

CAPREIT, Mr. Michael Stein, Chairman, [phone]; CAPREIT, Mr. Mark Kenney President & CEO, [phone]; CAPREIT, Mr. Scott Cryer, Chief Financial Officer, [phone]