Canadian Apartment Properties Real Estate Investment Trust announced that Mr. Michael Stein will be retiring from CAPREIT's Board of Trustees (the “Board”) effective at the end of his current term, following CAPRET's 2022 Annual and Special Meeting of Unitholders on June 1, 2022 (the “AGM”). It is anticipated that Dr. Gina Parvaneh Cody, the Vice Chair of CAPREIT's Board, will be named the Chair of the Board upon her re-election at the AGM.