Canadian Apartment Properties Real Estate Investment Trust · TSX:CAR.UN
Canadian Apartment Properties Real Estate Investment Trust — Q2 2026 Earnings Presentation
16 slides from Canadian Apartment Properties Real Estate Investment Trust's earnings presentation, Aug 7, 2026
Slide 1: Results Conference Call Q2 2026
MacLaren Edmonton, AB Results Conference Call August 7, 2026 Q2 2026 1
Slide 2: Disclaimer
Disclaimer Presentation Overview Non -IFRS Measures This presentation and our answers to questions in today’s session may contain CAPREIT prepares and releases unaudited condensed consolidated interim financial forward -looking information within the meaning of applicable securities laws. statements
Slide 3: Executive Team
MEET THE TEAM Executive Team Brad Cutsey Stephen Co President & Chief Executive Officer Chief Financial Officer CAPREIT CONFERENCE CALL | Q2 2026 3
Slide 4: Overview: 2026 Highlights
OPENING REMARKS Overview: 2026 Highlights 1. As at June 30, 2026. 2. As at June 30, 2026 vs. June 30, 2025. 3. For the six months ended June 30, 2026. $66M $145M 97.5% 2.3% Acquisitions and Dispositions Same Property Canadian Same Property Canadian Dispositions in Canada in Europe Residential Occupa
Slide 5: Capital Allocation Update
Nell’s Place Vancouver, BC INVESTMENT STRATEGY Capital Allocation Update
Slide 6: Strategic Portfolio Repositioning
INVESTMENT STRATEGY Strategic Portfolio Repositioning Note : Portfolio mix reflects June 30, 2026 IFRS fair values, and is subject to change based on market conditions. 68 % CORE 19% RECENTLY CONSTRUCTED Tower Hill, Toronto Olympic Village, Montreal White Oaks, Oakville MacLaren, Edmonton Grafton Pa
Slide 7: Value-Enhancing NCIB Program
MacLaren INVESTMENT STRATEGY Edmonton, AB Value -Enhancing NCIB Program Total Activity Since 2022 Disposition NCIB Proceeds $1.0B $43 NCIB Spend Weighted Average Purchase Price Per Unit Total Activity in 2026 NCIB continued to generate meaningful accretion in 2026, with CAPREIT having invested $71 m
Slide 8: Operational & Financial Update
Nell’s Place Vancouver, BC PERFORMANCE OVERVIEW Operational & Financial Update
Slide 9: Operational Results: AMRs & Occupancies
PERFORMANCE OVERVIEW Montréal CAPREIT 96.3% Operational Results 100% Montréal (15% of Portfolio) Yardi 94.5% $1,600 AMRs & Occupancies $1,500 $1,400 95% $1,300 $1,200 $1,100 Total Canadian Residential Portfolio 90% $1,000 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Occupi
Slide 10: Operational Results: Canadian Suite Turnovers
PERFORMANCE OVERVIEW Residents in suites for l ess than two years 2 Operational Results Canadian Suite Turnovers -7.1% 51% Change in Monthly Rent Portion of Turnovers Portfolio Distribution & Monthly Rent Per Square Foot by Lease Tenure 1 Residents in suites for two years or longer 2 $2.53 30% $1.59
Slide 11: Operational Results: Tenant Inducements
PERFORMANCE OVERVIEW Operational Results Tenant Inducements New Tenant Inducements Granted - Residential ($) Total Canadian Residential Portfolio Amortization of Tenant Inducements Granted as a Percentage of Operating Revenue (%) 1.6% $5,000 1.4% $4,000 1.2% $3,000 0.8% $2,000 0.4% $1,000 $0 0.0% Q2
Slide 12: Financial Results: Second Quarter
Sterling Manor PERFORMANCE OVERVIEW Regina, SK Financial Results Second Quarter THREE MONTHS ENDED JUNE 30, 2026 2025 CHANGE (%) Same Property Canadian Operating Revenues $229.7M $227.8M +0.8% Same Property Canadian Operating Costs $77.7M $77.1M +0.7% Same Property Canadian Net Operating Income (NOI
Slide 13: Financial Results: Six Months 2026
Market PERFORMANCE OVERVIEW Laval, QC Financial Results Six Months 2026 +1.0% 0.0% +1.5% Same Property Canadian Same Property Canadian Same Property Operating Revenues Operating Costs Canadian NOI 64.2% $1.249 62.0% Same Property FFO per Unit FFO Canadian NOI Margin (Diluted) Payout Ratio CAPREIT CO
Slide 14: Debt Strategy: Liquidity & Laddered Mortgage Profile
PERFORMANCE OVERVIEW Debt Strategy: Liquidity 4.2Y & Laddered Mortgage Profile Weighted average mortgage term to maturity 800 15% 5% 700 13% 11% 4% 600 10% 11% 11% 9% $180M Maturities ($M) 500 9% 3% Available liquidity on Acquisition & Operating Facility Rate 400 6% 2% 300 5% 200 100 1% $1.1B Unencu
Slide 15: Looking Ahead
AVA Montréal, QC CLOSING REMARKS Looking Ahead
Slide 16: Contact Us
Market CANADIAN APARTMENT PROPERTIES REIT (CAPREIT) Laval, QC Contact Us A: 11 Church Street, Suite 401, Toronto, Ontario, M5E 1W1 P: +1 416-861-9404 E: ir@capreit.net W: capreit.ca BRAD CUTSEY President & Chief Executive Officer STEPHEN CO Chief Financial Officer 16
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