our Goals for 2014 Philip Fraser complete a minimum of $75 million in  acquisitions. acquire over 50% of 2014 acquisitions outside atlantic canada, with a focus in ontario. Grow same store noi by up to 2%. continue to invest in development with two projects underway, managing  projects on schedule and on budget. development program to a maximum of 5% of our balance sheet per year. We  have three other developments projects in various planning stages, but don’t  expect to begin construction on any additional new projects until late 2014 or  into 2015. Geographic diversification is a priority for Killam. Our asset base in Atlantic  Canada is the foundation of the Company; however, with Atlantic Canada  representing only 5% of the Canadian rental market, our growth opportunities  increase significantly by expanding our target markets outside of this region. With its strong operating platform, Killam can support a larger and more  geographically diverse portfolio. We are actively growing a portfolio of  apartments in Ontario in three target markets: Ottawa, the Greater Toronto  Area, and Southwestern Ontario. An increased investment outside Atlantic  Canada will increase not only Killam’s growth potential, it will also expand the  Company’s diversification and exposure to higher growth markets. Acquisitions in Ontario represented 45% of acquisitions in 2013. In addition  to 1,359 apartment units in the province, we also have 2,144 manufactured  home community sites, representing 29% of the MHC NOI last year. Based on  our current portfolio, 15% of Killam’s 2014 NOI will be generated in Ontario,  compared to our longer-term goal of generating 50% of NOI outside Atlantic  Canada. We expect to reach this goal by focusing acquisition activity in  Ontario, with the majority of future investment anticipated in the province over  the next few years. We will look for additional development opportunities in  Ontario and we are exploring opportunities in Western Canada, attracted by  the strong population growth trends in Alberta’s urban markets. I would like to thank all Killam employees for their contributions and  commitment over the last year and our board of directors for their governance.  Also, I would like to thank you, our shareholders, for your continued investment  in Killam. I invite you to attend the Company’s annual meeting on May 7, 2014  at 2:00 pm Atlantic Time at the Halifax Marriott Harbourfront Hotel, either in  person or via webcast. Geographic Diversification is a Priority Yours truly, Killam ProPerties inc | 2013 11