European Residential files information circular for AGM

Ms. Jenny Chou reports ERES FILES MANAGEMENT INFORMATION CIRCULAR IN CONNECTION WITH THE SPECIAL MEETING TO APPROVE ACQUISITION BY CANADIAN APARTMENT PROPERTIES REAL ESTATE INVESTMENT TRUST European Residential Real Estate Investment Trust has filed its management information circular and related materials in respect of its previously announced special meeting of the holders of trust units of the REIT and non-participating special voting units (SVUs) of the REIT to be held to consider and vote on the proposed arrangement (as defined below). At the meeting, unitholders and their duly appointed proxyholders will be asked to consider and, if thought advisable, to pass a special resolution relating to a proposed plan of arrangement whereby an affiliate of Canadian Apartment Properties REIT will acquire all of the issued and outstanding units of European Residential not already owned by Canadian Apartment and its affiliates for consideration of $1.19 per unit in an all-cash transaction, on and pursuant to the terms of the arrangement agreement entered into on March 2, 2026, as amended on March 20, 2026. The meeting is scheduled to be held in a virtual-only meeting format via live webcast at 10 a.m. Toronto time on April 27, 2026. The meeting materials have been filed by the REIT on SEDAR+, and are available under the REIT's profile on SEDAR+ and on the REIT's website. If you have any questions or need assistance in your consideration of the arrangement or with the completion and delivery of your proxy, please contact the REIT's strategic unitholder adviser and proxy solicitation agent, Shorecrest Group, by telephone at toll-free 1-888-637-5789 or collect 647-931-7454, or by e-mail at [email protected]. After receiving the unanimous recommendation of a special committee of independent trustees of the REIT board, and based on advice from its independent financial and legal advisers, the REIT board unanimously (with conflicted trustees abstaining) determined that the arrangement is in the best interests of the REIT and the consideration to be received by unitholders, other than Canadian Apartment and its affiliates, is fair, from a financial point of view, to public REIT unitholders and is unanimously (with conflicted trustees abstaining) recommending that the public REIT unitholders vote for the arrangement resolution. The meeting materials contain important information regarding the arrangement and related matters, how unitholders can participate and vote at the meeting, and the background that led to the arrangement, including the reasons for the recommendations of the special committee and REIT board. Unitholders should carefully review all meeting materials. Unitholders of record at the close of business on March 16, 2026, will be entitled to receive notice of and vote at the meeting. To be effective, the arrangement resolution must be approved by: (a) not less than 66-2/3rds per cent of the votes cast on the arrangement resolution by holders of the units and the SVUs, voting together as a single class, present in person or represented by proxy at the meeting; and (b) a majority of the votes cast on the arrangement resolution by public REIT unitholders (excluding, for this purpose, any person whose votes are required to be excluded under applicable securities laws for purposes of determining minority approval for the arrangement) present in person or represented by proxy at the meeting. The anticipated hearing date for the application for the final order of the court is April 29, 2026. Subject to obtaining the required approval of the unitholders at the meeting, the final order and the satisfaction or waiver of the conditions to implementing the arrangement as set out in the arrangement agreement, the arrangement is anticipated to be completed in the second quarter of 2026. Voting Details of how unitholders or their duly appointed proxyholders can attend, access and participate in the meeting are set out in the meeting materials. Registered unitholders and duly appointed proxyholders may attend and vote at the meeting. If you are a registered unitholder, to vote by proxy, return your completed form of proxy, signed (by you or by your attorney authorized in writing, or, if you are a corporation, by a duly authorized officer or attorney) and dated (with the date on which it is executed), to the transfer agent, TSX Trust Company, in the envelope provided to you by mail or hand delivery at 301, 100 Adelaide St. W, Toronto, Ont., M5H 4H1, by facsimile at 416-595-9593 or on-line. Non-registered unitholders who have not duly appointed themselves as proxyholders may attend the meeting as guests. Guests will be able to listen to the meeting on-line but will not be able to vote or ask questions at the meeting. Non-registered unitholders who wish to vote at the meeting must: (a) appoint themselves as proxyholder by inserting their name in the space provided for appointing a proxyholder on the voting instruction form; and (b) follow all of the applicable instructions, including the deadline, provided by their intermediary. If you are a non-registered unitholder, unless you wish to vote at the meeting, you should follow the instructions in the voting instruction form that you received from your intermediary. Duly appointed proxyholders, including non-registered unitholders who have appointed themselves as proxyholders to vote at the meeting, must also register with TSX Trust Company by submitting a request for control number form to [email protected] no later than the proxy voting deadline. Registered unitholders will find their control number on their form of proxy. Without a control number, proxyholders will only be able to attend the meeting as guests and will not be able to vote or ask questions. The proxy voting deadline is at 10 a.m. Toronto time on April 24, 2026, or 24 hours (excluding Saturdays, Sundays and holidays) prior to any adjournment or postponement of the meeting. About European Residential Real Estate Investment Trust European Residential is an unincorporated, open-ended real estate investment trust. The European Residential units are listed on the Toronto Stock Exchange under the symbol ERE.UN. European Residential is Canada's only European-focused multiresidential REIT, with a current portfolio of high-quality, multiresidential real estate properties in the Netherlands. As at Dec. 31, 2025, European Residential owned 1,029 residential suites, including 410 suites classified as assets held for sale, and ancillary retail space located in the Netherlands, with a total fair value of approximately 310.1 million euros, including approximately 87.9 million euros of assets held for sale. European Residential's registered and principal business office is located at 11 Church St., Suite 401, Toronto, Ont., M5E 1W1. We seek Safe Harbor.