InterRent Announces Voting Results From the 2021 Annual Meeting

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OTTAWA, Ontario, Jun 17, 2021--(BUSINESS WIRE)--InterRent Real Estate Investment Trust (TSX-IIP.UN) (the "REIT") is pleased to announce the voting results from its 2021 Annual Meeting (the "Meeting") of unitholders held online on June 17, 2021 via live webcast. Each of the matters voted upon at the Meeting is discussed in detail in the REIT’s management information circular dated May 7, 2021 (the "Information Circular") and is available on the REIT’s website at www.interrentreit.com/MIC2021. A total of 110,217,582 units representing approximately 77.44% of the REIT’s issued and outstanding units were voted in person and by proxy in connection with the Meeting. The voting results for each matter presented at the Meeting are provided below:

1. Election of Trustees

The following nominees listed in the Information Circular were elected as trustees of the REIT until the next annual meeting of the unitholders or until their successors are elected or appointed, and the voting results are as follows:

Nominee

Votes in Favour

Percentage of
Votes Cast

Votes Withheld

Votes Withheld as a
Percentage of Votes Cast

Paul Amirault

104,626,864

95.08%

5,408,375

4.92%

Paul Bouzanis

104,585,035

95.05%

5,450,204

4.95%

John Jussup

89,046,630

80.94%

20,968,609

19.06%

Ronald Leslie

108,073,631

98.22%

1,961,608

1.78%

Mike McGahan

109,613,802

99.62%

421,437

0.38%

Cheryl Pangborn

106,112,596

96.43%

3,922,643

3.57%

2. Election of Trustees of InterRent Trust

The trustees of the REIT were authorized to elect the nominees listed in the Information Circular as trustees of InterRent Trust, until the next annual meeting of the unitholders or until their successors are elected or appointed. The voting results for InterRent Trust are as follows:

Votes in Favour

Percentage of Votes Cast

Votes Against

Percentage of Votes Cast

104,617,424

95.08%

5,417,815

4.92%

3. Election of Directors of InterRent Holdings General Partner Limited

The trustees of the REIT were authorized to elect the nominees listed in the Information Circular as directors of InterRent Holdings General Partner Limited ("GP"), until the next annual meeting of the unitholders or until their successors are elected or appointed. The voting results for the GP are as follows:

Votes in Favour

Percentage of Votes Cast

Votes Against

Percentage of Votes Cast

104,829,176

95.27%

5,206,063

4.73%

4. Appointment of Auditor

RSM Canada LLP, Chartered Professional Accountants, were appointed as auditors of the REIT until the next annual meeting of the unitholders at remuneration to be fixed by the trustees, and the voting results are as follows:

Votes in Favour

Percentage of Votes Cast

Votes Withheld

Votes Withheld as a
Percentage of Votes Cast

108,499,161

98.51%

1,644,238

1.49%

About InterRent

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.

InterRent's strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and, offer opportunities for accretive acquisitions.

InterRent's primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.

Website: www.interrentreit.com

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210617005870/en/

Contacts

Mike McGahan
Chief Executive Officer
Tel: (613) 569-5699 Ext 244
Fax: (613) 569-5698
mmcgahan@interrentreit.com

Brad Cutsey, CFA
President
Tel: (613) 569-5699 Ext 226
Fax: (613) 569-5698
bcutsey@interrentreit.com

Curt Millar, CPA, CA
Chief Financial Officer
Tel: (613) 569-5699 Ext 233
Fax: (613) 569-5698
cmillar@interrentreit.com

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