Killam Apartment REIT Announces Normal Course Issuer Bid

About this update from Killam Apartment Reit

HALIFAX, NS, June 30, 2026 /CNW/ - Killam Apartment REIT (TSX: KMP.UN) ("Killam" or the "REIT") today announced that the Toronto Stock Exchange ("TSX") has accepted Killam's notice of intention to make a normal course issuer bid (the "NCIB") for trust units of the REIT ("Units"). The NCIB will commence on July 3, 2026, and terminate on July 2, 2027. Under the NCIB, Killam is permitted to acquire up to 11,894,721 Units, which represents approximately 10% of the public float as of close of business on June 19, 2026. Except as permitted under the TSX rules, Killam will not purchase on any given trading day more than 96,845 Units, being approximately 25% of 387,380 Units, the average daily trading volume of the Units on the TSX for the six most recently completed calendar months, excluding any purchases made through the facilities of the TSX under Killam's normal course issuer bid which expires on July 2, 2026 (the "2025 NCIB"). All purchases will be made on the open market through the facilities of the TSX and/or alternative Canadian trading systems, at the market price of such Units at the time of acquisition. Any Units acquired through the NCIB will be cancelled. Killam believes the NCIB is an attractive and appropriate use of Killam's funds to purchase Units when the market price of such Units may not fully reflect their underlying value. Management's decisions regarding any Unit repurchases will be based on market conditions, the market price of the Units and other factors. Killam will enter into an automatic securities purchase plan ("ASPP") in relation to purchases made under the NCIB. The ASPP has been pre-cleared by the TSX and will be implemented on July 3, 2026. The ASPP is intended to facilitate repurchases of Units at times under the NCIB when Killam would ordinarily not be permitted to make purchases due to regulatory restriction or customary self-imposed blackout periods. Before the commencement of any particular trading black-out period, Killam may, but is not required to, instruct its designated broker to make purchases of Units under the NCIB during the ensuing black-out period in accordance with the terms of the ASPP. Such purchases will be determined by the designated broker at its sole discretion based on purchasing parameters set by Killam in accordance with the rules of the TSX, applicable securities laws and the terms of the ASPP....

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