Killam Apartment REIT Announces Release of 2023 Environmental, Social, and Governance Report

HALIFAX, NS, June 12, 2024 /CNW/ - Killam Apartment REIT (TSX: KMP.UN) ("Killam") is pleased to announce the release of its 2023 Environmental, Social, and Governance ("ESG") Report, providing an overview of Killam's ESG strategy, commitments, and progress.

"In 2023, we continued to enhance our ESG initiatives, reaffirming our commitment to being a leader in the industry" noted Philip Fraser, President and CEO. "Since our inaugural ESG Report in 2018, we have witnessed substantial change in our industry, yet our mission to provide Canadians with clean, safe, and quality housing remains unchanged."

Key highlights from Killam's 2023 ESG Report include:

• Investment in Energy Efficiency: Allocated $8.8 million towards energy-efficiency projects, including the installation of photovoltaic solar panels at six additional properties and 255 electric vehicle chargers across 35 more buildings.
• Greenhouse Gas Reduction: Achieved a 10.8% reduction in greenhouse gas (GHG) intensity ratio from the 2020 baseline.
• Certification of Properties: Certified 14 additional properties under the Certified Rental Building Program, resulting in a 28% certification rate across the apartment portfolio.
• Affordability Assistance: Contributed $2.5 million towards affordability assistance.
• Resident and Employee Satisfaction: Surpassed annual satisfaction score targets of 85% for residents and 80% for employees.
• Community Contributions: Donated $415,000 to community organizations.
• Integration of ESG into Compensation Plans: Introduced ESG targets into executive compensation plans.

Killam's 2023 ESG Report is aligned with (i) the Global Reporting Initiative (GRI) 2021 Universal Standards, (ii) the Sustainability Accounting Standards Board (SASB) Real Estate Standard, (iii) the Task Force on Climate-related Financial Disclosures (TCFD) recommendations and (iv) the United Nations Sustainable Development Goals.

Killam's 2023 ESG Report can be found at www.killamreit.com.

About Killam

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential real estate investment trusts, owning, operating, managing and developing a $5.2 billion portfolio of apartments and manufactured home communities. Killam's strategy to enhance value and profitability focuses on three priorities: 1) increase earnings from existing operations, 2) expand the portfolio and diversify geographically through accretive acquisitions and dispositions, with an emphasis on acquiring newer properties, and 3) develop high-quality properties in its core markets.

Note: The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein. Certain statements in this press release may constitute forward-looking statements and forward-looking information (collectively, "forward-looking statements"), including within the meaning of applicable securities law. In some cases, forward-looking statements can be identified by the use of words such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "potential", "continue", "target", "commit", "priority", "remain", "strategy", "future" or the negative of these terms or other comparable terminology, and by discussions of strategies that involve risks and uncertainties. Such forward looking statements include statements regarding Killam's ESG initiatives and targets, and Killam's priorities. Readers should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those anticipated or implied, or those suggested by any forward-looking statements, including competition; global, national, and regional economic conditions, including inflationary pressures; and the availability of capital to fund further investments in Killam's business. For more exhaustive information on these risks and uncertainties, readers should refer to Killam's most recently filed annual information form, as well as Killam's most recently filed management's discussion and analysis, each of which are available on SEDAR+ at www.sedarplus.ca. While Killam anticipates that subsequent events and developments may cause its views to change, Killam does not intend to update or revise any forward-looking statement, whether as a result of new information, future events, circumstances, or such other factors that affect this information, except as required by law. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

SOURCE Killam Apartment Real Estate Investment Trust

Claire Hawksworth, CPA, Senior Manager, Investor Relations, [email protected], [phone]