REVENUE OPTIMIZATION & DEVELOPMENT PROGRESS

FFO & AFFO PER UNIT GROWTH Same Property Portfolio Performance For the three months ended December 31, 2022 Q4 FFO & AFFO Per Unit Q4-2022 ■Q4-2021 Killam APARTMENT REIT 4.9% 4.4% 4.1% $0.27 $0.27 $0.23 $0.22 Revenue Expense ΝΟΙ FFO AFFO Same Property Portfolio Performance For the year ended December 31, 2022 Annual FFO & AFFO Per Unit 2022 ■2021 5.4% 5.0% 4.7% $1.11 $1.07 $0.93 $0.90 Revenue Expense ΝΟΙ FFO AFFO March 2023 | Page 10

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