European Residential Real Estate Investment Trust ($EREUN)

Good morning, everyone, and welcome to the Special Meeting of Unitholders of European Residential Real Estate Investment trust. My name is Ira Gluskin. I'm a trustee of European and the Chair of the Special Committee, and I'll act as Chair of today's meeting. Before I proceed, I would like to thank our unitholders who are able to join us virtually for [ this ] meeting. I would also like to thank [ Lisa Russell ], my fellow trustee, and co-member of the European Special Committee and counseled to the European Special Committee and [ line ] of North Thompson. I will now begin with the formal business of the meeting. I now call the meeting to order with the consent of the meeting. Jenny Chou, European's Chief Financial Officer, will act as secretary of the meeting. And [indiscernible] TSF Trust Company will act as scrutineers for today's meeting. The Secretary has advised me that we received the affidavit of mailing from TSX Trust Company, confirming that the [ known ] as calling the meeting and related materials were provided to unitholders of record on the record date for the meeting. Unless there is any objection, I will dispense with the reading of the notice calling [ the ] meeting. The Secretary has invited me that [ corn ] is present for the meeting based on unitholders, we know to be in attendance, including by proxy, and document in the preliminary report of the scrutineer. A final report will be prepared and filed as part of the record of the meeting. On this basis, I declare the meeting to be properly constituted for the transaction of business. On behalf of the Board, I thank those unitholders who have joined us today. Before [ any ] results for the special resolution to be [ filled ] and voted on today will be formally announced by press release following the meeting. For the purpose of today's meeting, voting on the special resolution will be conducted by a single electronic balance to registered units proxy holders of record on the record date can use the electronic ballot feature available near screen. You are encouraged to complete your electronic ballot during the [indiscernible] a lot of time prior to the end of the formal portion of today's meeting. If you voted in advance meeting, and you're not wish to revoke your previous lease submitted proxy and you do not need to vote in the meeting. By the way, you need a [ PC ]. You're not the only one. Registered unitholders and duly appointed proxy holders may submit questions using the Q&A feature in the virtual platform, please you keep your questions concise and related to the special resolution or the transaction with [ CAPREIT ]. For each question the answer, we enter the Secretary of [ we ] will read each question aloud before we provide a response. If during the course of the meeting, we encounter any technical difficulty with the webcast. Please remain long on and we will resume as possible. As soon as possible. To make the best use of our time, we have designated unitholders that will move to the section in the special resolution. Calls are now formally open for a long [ trial ] voting. Voting [ plans ] once the pasta resolution has been formally dealt with. Once voting closes, the scrutineer will tabulate the results of the [ book ] for this special resolution. The [ solar ] item business is to consider pursuant to an interim order of the tail Supreme Court of Justice ended March 20, 2026. And if thought advisable to pass with or without variation, a special resolution approving a proposed plan of arrangement pursuant to Section 192 of the Canada Business Corporation and Section 6 of the Trustee Active European and an affiliate of Canadian Properties Real Estate Investment Trust or CAPREIT providing for the acquisition by the affiliate of Capital the issue and not [ sending ] REIT shares not already owned by CAPREIT and its affiliation for consideration of $1.19 per unit in an all-cash transaction. The special resolution cars approval by at least 2/3 of the votes cast by unitholders voting together and by a new majority of both cast by public unitholders excluding votes required to be excluded under securities laws. Management holds proxies sufficient to meet these thresholds, so we expect the resolution pass. The full text of the special resolution is set more [ Schedule B ] to the management informs circular. Unless there is any objection, I will dispense with the reading of the special real solution. Before asking for a motion to process resolution, I will pause to ask the secretary meeting. Jenny Chou, if there are any questions.

Mr. Chair, I confirm that we have not received any relevant questions from unitholders.

Thank you. I will now ask for a motion to approve the special resolution.

My name is in Jan. I am a [ propane ] Chair and move for the special resolution to be approved.

My name is [ Constantin Tori ]. I'm a proxy holder Chair, I second the motion.

Thank you. We will now vote on the special resolution. Any registered unitholders or duly appointed proxy holders who has not been voted or who wish to change their vote. With respect to the special resolution may do so now by clicking on the voting tab from the top menu of the web portal and then clipping on your [indiscernible] selection to cast your gold. The electronic ballot will close in two minutes. [Voting]

Now that everyone has had the opportunity to vote, I now declare the poll closed. Based on the preliminary voting results received from the scrutineer, the voting results for the special resolution shows sufficient support for approval. Accordingly, the motion is carried. Therefore, I declare this resolution is approved. We will be reporting the final results of this meeting in a press release and there [ are ] posted on European SEDAR propel shortly after this meeting. If there is no further business, I will ask for a motion determining meeting.

I second the motion.

I now declare the meeting to be closed. On behalf of management and the Board, I would like to thank you all for attending today.