CAR.UN Canadian Apartment Properties Real Estate Investment Trust

Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX: CAR.UN) announced today its November 2024 monthly distribution in the amount of $0.125 per Unit (or $1.50 on an annualized basis). The November 2024 distribution will be payable on December 16, 2024 to Unitholders of record at the close of business on November 29, 2024.

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at September 30, 2024, CAPREIT owns approximately 63,400 residential apartment suites, townhomes and manufactured home community sites, including approximately 15,400 suites and sites classified as assets held for sale, that are well-located across Canada and the Netherlands, with a total fair value of approximately $16.9 billion, including approximately $1.9 billion of assets held for sale. Since its Initial Public Offering in May 1997, CAPREIT has grown monthly cash distributions per Unit by 110%. For more information about CAPREIT, its business and its investment highlights, please visit our website at www.capreit.ca and our public disclosure which can be found under our profile at www.sedarplus.ca.

For further information please contact:

CAPREITMr. Mark KenneyPresident & Chief Executive Officer(416) 861-9404

CAPREITMr. Stephen CoChief Financial Officer(416) 306-3009

CAPREITMr. Julian SchonfeldtChief Investment Officer(647) 535-2544