REVENUE OPTIMIZATION & DEVELOPMENT PROGRESS

Killam APARTMENT REIT 7.7% 6.6% 5.3% 4.9% 4.1% 3.2% 3.0% CONSISTENT GROWTH FROM EXISTING PORTFOLIO 6.0% Q4-2018 Q1-2019 Q2-2019 Q3-2019 Q4-2019 5.0% 4.5% 4.3% 4.0% 3.9% 3.7% 2.7% 0.9% 0.4% Same Property NOI Growth by Quarter 6.1% Halifax Ontario New Brunswick St. John's Charlottetown Alberta British Columbia Total 9.5% Strength across all markets drove strong revenue and net operating income in 2022. 2022 Same Property Apartment Revenue and NOI Growth by Market Revenue Π ΝΟΙ 4.8% 4.3% 4.2% 4.5% 4.8% 4.5% 2.6% 1.9% Q1-2020 Q2-2020 Q3-2020 Q4-2020 Q1-2021 Q2-2021 7.4% 6.6% 5.8% 5.1% 4.5% 4.5% 3.1% 3.1% Q3-2021 Q4-2021 YoY Same Property NOI Growth by Segment Commercial MHCS Apartments Q1-2022 Q2-2022 Q3-2022 Q4-2022 8% Commercial 6% T MHCS 5% Apartments Avg 4.4% % 4.9% 4.8% Q3-2017 Q4-2017 Q1-2018 Q2-2018 Q3-2018 March 2023 | Page 11

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