AGM 2021

May 7, 2021

Morning, ladies and gentlemen, and welcome to the Annual General Meeting of Unitholders of Kilometers Apartments Real Estate Investment Trust Conference Call. All lines are in a listen only mode. This call is being recorded on Friday, May 7, 2021. I would now like to turn the conference over to Philip Frazier, President and CEO. Please go ahead. Good morning, everyone, and welcome to Killam Apartment REIT's 2021 Annual Meeting of Unitholders. My name is Philip Fraser, and I am pleased to chair this year's Annual Meeting. In order to ensure that the meeting covers the required business in an effective manner, we have prearranged with unitholders And proxy holders to move into seconds certain of the motions of business. I welcome all guests attending by webcast, But note that only registered unitholders and duly appointed proxy holders physically present at the meeting are entitled to vote on the matters before the meeting. The meeting of unitholders of Kilnapartment REIT will now come to order. With the consent of the meeting, I will ask Ron Baron to act as secretary of the meeting. The first item of business will be the appointment of a scrutineer. I will ask Colleen Nielsen I have received a declaration prepared by an officer of Computershare, indicating that the notice calling this meeting with the accompanying information circular, form a proxy, Annual report and auditors report were mailed to all unitholders of record as at the close of business on March 24, 2021. Accordingly, with the consent of the meeting, the reading of the notice of the meeting will be dispensed with and I request The secretary to keep a copy of the notice of meeting and proof of service with the minutes of this meeting. I would ask the scrutineer to summarize the scrutineers report on Mr. Chairman, I, the undersigned scrutineer from Computershare Investor Services Inc, hereby report that there are at least 3 unitholders and or proxy holders present at this meeting, Representing in person or by proxy, 72,368,850 2 units being Based on the scrutineers report, I declare that the requisite form of unitholders is present and direct that the scrutineers report be kept with the minutes of this meeting. I now declare that the meeting has been regularly called It is properly constituted for the transaction of business. As a first matter of formal business, I table at this meeting the financial statements of Killam Apartment REIT For the year ending December 31, 2020, with the report of the auditors thereon, I do not propose to ask unitholders to approve the financial statements. We will now We will now proceed with the election of trustees for the ensuing year. I now declare the meeting open for nominations. I nominate the following persons for election as trustees of the REIT For the ensuing year or until their successors are elected or appointed. Philip Fraser, Robert Richardson, Robert Kaye, Eldia Mondre, Jim Lalley, Arthur Lloyd, Corrine MacIndoe, Doug MacGregor, Laurie McKegan and Manfred Walt. I will now ask Del Noseworthy to move and Robert Mr. Chairman, my name is Dale And I move that these those nominated be elected as trustees of the REIT to hold office until the next annual meeting of the unitholders or until their successors are elected or appointed. Mr. Chairman, my name is Robert Richardson, and I second the motion. You have heard the motion and if there is no discussion, I will ask those in favor to signify by raising their hand. Any against? I declare the resolution carried and those nominated to be fully elected trustees of the REIT To hold office until the next Annual Meeting of Unitholders or until their successors are elected or appointed. The next item of business is the appointment of the auditors. I will ask Dale Noseworthy to move and Robert Mr. Chairman, my name is Dale Noseworthy, And I move that Ernst and Young LLP, Chartered Professional Accountants, the appointed auditors of the REIT to hold office until the next annual meeting of unitholders, Mr. Chairman, my name is Robert Richardson and I second the motion. You have heard the motion and if there are notice There is no discussion. I will ask for those in favor to signify by raising their hand. Any against? I declare the resolution carried in Ernst and Young LLP to be appointed auditors of the REIT to hold office until the next annual meeting of the unitholders as such remuneration as may be fixed by the trustees. The next item of business is the advisory vote on Killam's approach to executive Compensation as set forth in the information circular in respect of this meeting. I will ask Robert Richardson to move and Dale Noseworthy to second the resolution On the advisory basis, the approval of Killam's approach to executive compensation. Mr. Chairman, my name is Robert Richardson, And I move that on an advisory basis and not to diminish the role and responsibility of the Board of Trustees that unitholders accept The approach to executive compensation disclosed in the information circular. Mr. Chairman, my name is Dale Noseworthy, and I second the motion. You have heard the motion. And if there is no discussion, I will ask for those in favor to signify by raising their hand. Any against? I declare the resolution carried. As there is no further formal business, May I please have a motion terminating the meeting? I move the meeting be terminated. I second the motion. All those in favor, please signify by raising their hand. Against? I declare the motion carried and the meeting terminated. Thank you for listening today, And we look forward to next year's Annual Meeting of Unitholders.