Canadian Apartment Properties Real Estate Investment Trust (CAR-UN) AGM 2026 summary

Opening remarks and agenda

• Meeting opened with a welcome, acknowledgment of forward-looking statements, and an outline of the agenda and key topics, including a formal session and management presentation with Q&A.

Board and executive committee updates

• Announced CEO Mark Kenney's retirement effective July 2, 2026, with Brad Cutsey named as successor and intended board member.

• Recognized retiring trustee Lori-Ann Beausoleil and welcomed new trustee Francine Moore, highlighting her real estate and financial expertise.

• Board of Trustees includes a diverse group, led by the Chair and CEO.

Corporate governance

• Confirmed quorum and proper constitution of the meeting, with formal roles assigned for secretary and scrutineer.

• Nine trustee nominees presented and elected individually, following majority voting policy; all motions carried with strong favorability.

• Ernst & Young LLP appointed as auditors, with trustees authorized to fix remuneration.

• Non-binding advisory vote on executive compensation approved.

• 56% of independent trustees self-identify as female, 22% as BIPOC, and 90% are independent.

• ESG is embedded in board and executive duties, with a focus on climate-related risks and opportunities.