Automotive Properties REIT Announces Results of Voting at Annual and Special Meeting

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TORONTO

,

June 7, 2022

/CNW/ – Automotive Properties Real Estate Investment Trust (TSX: APR.UN) (the “Trust”) today announced the results of voting at its annual and special meeting of unitholders held earlier today (the “Meeting”). Each of the matters voted upon at the Meeting as set out below is described in greater detail in the Notice of Annual and Special Meeting of Unitholders and Management Information Circular of the Trust dated

April 27, 2022

.

The total number of trust units and special voting units represented by holders by proxy at the Meeting was 16,020,625, representing 32.67% of the Trust’s outstanding trust units and special voting units entitled to be voted.

Election of Trustees

All of the nominees listed in the management information circular prepared in connection with the Meeting were elected as trustees to hold office until the next annual meeting following their election or until their successors are elected or appointed. The results of the vote are set out below:

Trust Units

Nominee	Votes For	% Votes For	Votes Withheld	% Votes Withheld
Kapil Dilawri	6,024,852	99.12%	53,632	0.88%
Patricia Kay	5,140,595	84.57%	937,889	15.43%
Milton Lamb	6,025,713	99.13%	52,771	0.87%
Stuart Lazier	5,610,835	92.31%	467,649	7.69%
James Matthews	6,023,150	99.09%	55,334	0.91%
Julie Morin	6,029,157	99.19%	49,327	0.81%
John Morrison	5,615,360	92.38%	463,124	7.62%

Special Voting Units

Nominee	Votes For	% Votes For	Votes Withheld	% Votes Withheld
Kapil Dilawri	9,933,253	100%	Nil	Nil
Patricia Kay	9,933,253	100%	Nil	Nil
Milton Lamb	9,933,253	100%	Nil	Nil
Stuart Lazier	9,933,253	100%	Nil	Nil
James Matthews	9,933,253	100%	Nil	Nil
Julie Morin	9,933,253	100%	Nil	Nil
John Morrison	9,933,253	100%	Nil	Nil

Appointment of Auditors

BDO Canada LLP was reappointed as auditor of the Trust and the trustees were authorized to fix the auditor’s remuneration. The results of the vote are set out below:

Trust Units

Votes For	% Votes For	Votes Withheld	% Votes Withheld
6,035,811	99.15%	51,561	0.85%

Special Voting Units

Votes For	% Votes For	Votes Withheld	% Votes Withheld
9,933,253	100%	Nil	Nil

Amendment to the Equity Incentive Plan

The adoption of the amendment to the Trust’s equity incentive plan was approved. As a result, the total number of trust units available for issuance under the Equity Incentive Plan has increased by 750,000 trust units to 1,750,000 trust units. The results of the vote are detailed below:

Trust Units

Votes For	% Votes For	Votes Against	% Votes Against
5,577,218	91.76%	500,641	8.24%

Special Voting Units

Votes For	% Votes For	Votes Against	% Votes Against
9,933,253	100%	Nil	Nil

About Automotive Properties REIT

Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive dealership properties located in

Canada

. The REIT’s portfolio currently consists of 72 income-producing commercial properties, representing approximately 2.7 million square feet of gross leasable area, in metropolitan markets across

British Columbia

,

Alberta

,

Saskatchewan

,

Manitoba

,

Ontario

and Québec. Automotive Properties REIT is the only public vehicle in

Canada

focused on consolidating automotive dealership real estate properties. For more information, please visit:

www.automotivepropertiesreit.ca