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Results Conference Call August 7 , 2026 FFF CANADIAN APARTMENT PROPERTIES • REIT MacLaren Edmonton , AB Q2 2026
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2 CAPREIT CONFERENCE CALL | Q2 2026 Presentation Overview This presentation and our answers to questions in today’s session may contain forward - looking information within the meaning of applicable securities laws. Forward - looking information may relate to CAPREIT’s future outlook and anticipated events or results. These statements are based on certain factors and assumptions regarding expected growth, results of operations, performance, and business prospects and opportunities. Management’s estimates, beliefs and assumptions are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and, as such, are subject to change. Although the forward - looking statements are based on assumptions and information that is currently available to management, including current market conditions and management’s assessment of acquisition, disposition and other opportunities that are or may become available to CAPREIT, which are subject to change, management believes these statements have been prepared on a reasonable basis, reflecting CAPREIT’s best estimates and judgements. However, there can be no assurance actual results, terms or timing will be consistent with these forward - looking statements, and they may prove to be incorrect. Forward - looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond CAPREIT’s control, that may cause CAPREIT’s or the industry’s actual results, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward - looking statements. These risks and uncertainties are described in CAPREIT’s regulatory filings, including our Annual Information Form and Management’s Discussion and Analysis (“MD&A”), all of which can be obtained on SEDAR+ at www.sedarplus.ca. Subject to applicable law, CAPREIT does not undertake any obligation to publicly update or revise any forward - looking information. Non - IFRS Measures CAPREIT prepares and releases unaudited condensed consolidated interim financial statements and audited consolidated annual financial statements in accordance with IFRS Accounting Standards (“IFRS”). In the MD&A, earnings releases, investor presentations and investor conference calls, CAPREIT discloses measures not recognized under IFRS which do not have standard meanings prescribed by IFRS. These include Funds From Operations (“FFO”), Adjusted Funds From Operations (“AFFO”), Adjusted Cash Generated from Operating Activities, Net Asset Value (“NAV”), Total Debt, Gross Book Value, and Adjusted Earnings Before Interest, Tax, Depreciation, Amortization and Fair Value Adjustments (“Adjusted EBITDAFVA”) (the “Non - IFRS Financial Measures”), as well as diluted FFO per unit, diluted AFFO per unit, diluted NAV per unit, FFO payout ratio, AFFO payout ratio, Total Debt to Gross Book Value, Net Debt to Adjusted EBITDAFVA, Debt Service Coverage Ratio and Interest Coverage Ratio (the “Non - IFRS Ratios” and together with the Non - IFRS Financial Measures, the “Non - IFRS Measures”). Since these measures and related per unit amounts are not recognized under IFRS, they may not be comparable to similar measures reported by other issuers. CAPREIT presents Non - IFRS Measures because management believes Non - IFRS Measures are relevant measures of the ability of CAPREIT to earn revenue and to evaluate its performance, financial condition and cash flows. These Non - IFRS Measures have been assessed for compliance with National Instrument 52 - 112 and a reconciliation of these Non - IFRS measures to the comparable IFRS measures, along with further definitions and discussion, is provided in Section VI of the MD&A under Non - IFRS Measures. The Non - IFRS Measures should not be construed as alternatives to net income (loss) or cash flows from operating activities determined in accordance with IFRS as indicators of CAPREIT’s performance or the sustainability of CAPREIT’s distributions. Disclaimer