CAPREIT Announces Appointment of James Lawrence as Chief Operating Officer

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This news release constitutes a “designated news release” for the purposes of CAPREIT’s prospectus supplement dated May 15, 2025, to its short form base shelf prospectus dated May 15, 2025.

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TORONTO, Aug. 26, 2026 (GLOBE NEWSWIRE) — Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT” or the “REIT”) (TSX: CAR.UN) is pleased to announce the appointment of James Lawrence as Chief Operating Officer (“COO”), effective September 1, 2026. In this position, Mr. Lawrence will focus on strengthening CAPREIT’s operating platform by advancing process standardization, technology enablement, and a people-first approach to operational excellence.

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Mr. Lawrence brings more than 25 years of deep real estate experience and proven leadership, most recently serving as Chief Operating Officer for CBRE’s Property Management business in Canada. In this role, Mr. Lawrence was responsible for evolving the operating model and executing planned investments to support further growth in the area. Mr. Lawrence holds an Honours degree in Biological Science from the University of Guelph, a Master of Management and Professional Accounting from the Joseph L. Rotman School of Management at the University of Toronto, and holds his Chartered Professional Accountant (CPA, CA) designation.

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“James has an impressive track record of bringing together people, technology and processes to enhance performance and operational excellence. That experience is highly complementary to the breadth of expertise in place across CAPREIT’s senior leadership team, and will be an invaluable asset as we move forward and continue to build on CAPREIT’s success,” commented Brad Cutsey, CAPREIT’s President and Chief Executive Officer.

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ABOUT
CAPREIT
CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at June 30, 2026, CAPREIT owns approximately 45,400 residential apartment suites and townhomes (excluding approximately 100 suites classified as assets held for sale), that are well-located across Canada and, to a lesser extent, the Netherlands, with a total fair value of approximately $14.4 billion (excluding approximately $21.6 million of assets held for sale). For more information about CAPREIT, its business and its investment highlights, please visit our website at www.capreit.ca and our public disclosures which can be found under our profile at www.sedarplus.ca.

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CAUTIONARY
STATEMENTS
REGARDING
FORWARD-LOOKING
INFORMATION

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Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian securities laws, which reflect CAPREIT’s current expectations and projections about future results. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intent”, “estimate”, “anticipate”, “believe”, “consider”, “should”, “plans”, “predict”, “estimate”, “forward”, “potential”, “could”, “likely”, “approximately”, “scheduled”, “forecast”, “variation” or “continue”, or similar expressions suggesting future outcomes or events. The forward-looking information in this press release relates only to events or information as of the date on which the statements are made in this press release. Actual results and developments may differ, and may differ materially, from those expressed or implied by the forward-looking information contained in this press release. Any number of factors could cause actual results to differ materially from this forward-looking information. Although CAPREIT believes that the expectations reflected in forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Such forward-looking information is based on a number of assumptions that may prove to be incorrect. Accordingly, readers should not place undue reliance on forward-looking information.