REVENUE OPTIMIZATION & DEVELOPMENT PROGRESS

CAPITAL INVESTMENT -Killam APARTMENT REIT Total Capital Investment ($M/yr) Capital Investment per Apt Unit ($) $6,000 $100 $5,000 $80 $4,000 $60 $3,000 $40 $2,000 $20 $1,000 $0 $0 2017 2018 2019 2020 2021 2022 2017 2018 2019 2020 2021 2022 Suite Renovations 31% Building Improvements 34% 2022 Capital Investment Commercial 7% Curb Appeal 6% Energy 7% Maintenance 8% March 2023 | Page 24

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