Killam Apartment REIT Announces Release of 2022 ESG Report

HALIFAX, NS, June 6, 2023 /CNW/ - Killam Apartment REIT (TSX: KMP.UN) ("Killam" or the "REIT") is pleased to announce the release of its 2022 Environmental, Social, and Governance ("ESG") Report, providing an overview of Killam's ESG strategies, policies, and commitments, and highlighting the progress made.

"Our 2022 ESG report outlines our ESG initiatives, achievements, and long-term targets, demonstrating how we integrate sustainability into every aspect of our business" noted Philip Fraser, President and CEO. "We strive to create long-term value for Unitholders while making significant contributions to our communities and the environment."

Highlights of Killam's 2022 ESG Report include:

• Invested $8.5 million in energy efficiency initiatives, which includes the completion of 12 solar photovoltaic panel installations, two geothermal systems, and 114 electric vehicle charging stations across 11 properties.
  
  

• Achieved a 2.7% reduction in like-for-like total greenhouse gas (GHG) emissions from 2020 baseline levels.
  
  

• Reduced GHG intensity ratio by 6.7% from 2020 baseline levels.
  
  

• Increased the number of apartment units with a long-term affordability commitment by 160 units, resulting in a 35% increase from 750 units at the end of 2020.
  
  

• Formed a corporate-level Climate Change Committee and conducted analysis on Killam's physical and transition risks and opportunities to better align with the TCFD framework.
  
  

• Approved a formal Board Diversity and Inclusion Policy in January 2023, which targets a minimum of 30% female Trustees and a commitment to ensuring racial, ethnic, or visible minority diversity on the Board by 2025-26.

Killam's 2022 ESG Report can be found by visiting our website at www.killamreit.com.

About Killam Apartment REIT

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential real estate investment trusts, owning, operating, and developing a $4.9 billion portfolio of apartments and manufactured home communities. Killam's strategy is to enhance value and profitability by focusing on three priorities: 1) increasing earnings from existing operations, 2) expanding the portfolio and diversifying geographically through accretive acquisitions, with an emphasis on newer properties, and 3) developing 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. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

SOURCE Killam Apartment Real Estate Investment Trust

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