Investing in newer properties Increasing Geographic  Diversification apartment Value by Year of Construction annual apartment net operating and equity Income from atlantic Canada and ontario $ millions  We are increasing our geographic  diversification by expanding our  apartment ownership outside Atlantic  Canada. Over the last four years we have  invested approximately $200 million in  apartments located in Ontario and at the  end of 2013 owned 1,359 units in three  core Ontario markets: Ottawa, Toronto and  Southwestern Ontario. Our long-term goal  is to have 50% of our earnings generated  outside Atlantic Canada. We plan to  achieve this by focusing future acquisition  and development activity in Ontario, and  potentially Western Canada. We are expanding our portfolio with a  focus on acquiring newer properties  and through development. We believe  that newer buildings often generate  higher total returns due to limited  deferred maintenance requirements,  lower operating costs and a preference  for renters to live in newer buildings. With 35% of Killam’s apartment portfolio  constructed since the year 2000, Killam has  one of the newest multi-family real estate  portfolios in Canada. Killam ProPerties inc | 2013 5 2000 + | 35% 1990 - 99 | 10% 1980 - 89 | 6% 1970 - 79 | 25% Pre 1970 | 24% $80 $70 $60 $50 $40 $30 $20 $10 $0 Atlantic Canada ontario 09 10 11 12 13