Morguard North American Residential Real Estate Investment Trust Announces Voting Results from the 2020 Annual Meeting of Unitholders

May 7, 2020

MISSISSAUGA, ON, May 7, 2020 /CNW/ - Morguard North American Residential Real Estate Investment Trust (the "REIT") (TSX: MRG.UN) today announced the results of matters voted on at its annual unitholders' meeting held on May 6, 2020 (the "Meeting"), which included the election of trustees of the REIT, all of the nominees listed in its management information circular dated March 12, 2020  The voting results for each of the matters presented at the Meeting are presented below.

The total number of units and special voting units represented by holders present in person or by proxy at the meeting was 38,507,174 representing 68.50% of the REIT's total outstanding units and special voting units.

1.  Election of Trustees

The seven (7) nominees proposed by management were elected as trustees of the REIT to hold office until the termination of the next annual meeting of unitholders or until their successors are duly elected or appointed, subject to the provisions of the REIT's Declaration of Trust.  Proxies were received on this matter for units and special voting units of the REIT as follows:

Name

Votes For

%

Votes Withheld

%

Avtar T. Bains

37,321,210

97.89

803,615

2.11

Dino Chiesa

37,652,426

98.76

472,399

1.24

Mel Leiderman

37,662,422

98.79

462,403

1.21

Frank Munsters

30,889,093

81.02

7,235,732

18.98

Bruce K. Robertson

37,653,326

98.76

471,499

1.24

K. Rai Sahi

37,220,976

97.63

903,849

2.37

William O. Wallace

37,325,965

97.90

798,860

2.10

2.  Appointment of Auditors

The firm of Ernst & Young LLP, chartered accountants, was appointed as auditor of the REIT to hold office until the close of the next annual meeting of the unitholders or until their successors are duly appointed, and to authorize the trustees to fix the remuneration of the auditor.  Proxies were received on this matter for units and special voting units of the REIT as follows:

Votes For

%

Votes Withheld

%

38,274,390

99.40

230,304

0.60

About Morguard North American Residential REIT

The REIT is an unincorporated, open-ended real estate investment trust which owns, through a limited partnership, interests in Canadian residential apartment communities, located in Alberta and Ontario, and U.S. residential apartment communities located in Colorado, Texas, Louisiana, Illinois, Georgia, Florida, North Carolina, Virginia and Maryland.

SOURCE Morguard North American Residential Real Estate Investment Trust

For further information: Morguard North American Residential REIT: K. (Rai) Sahi, Chief Executive Officer, (905) 281-3800; Beverley G. Flynn, General Counsel & Secretary, (905) 281-3800