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  • www.centurionreit.com

    Centurion Asset Management Inc.

    Investing for Income & Stability

  • RESPECT INTEGRITY SIMPLICITY EXCELLENCE

    Disclaimer

    Contact:

    1-888-737-REIT(7348)

    invest@centurionreit.com

    Centurion Apartment REIT

    25 Sheppard Avenue West

    Suite 710

    Toronto, ON

    M2N 6S6

    www.centurionreit.com

    IMPORTANT INFORMATION: This communication is for information purposes only and is not, and under no circumstances is to be construed as, an invitation

    to make an investment in Centurion Apartment REIT. Investing in the REIT Units involves significant risks. There is currently no secondary market through which the

    REIT Units may be sold and there can be no assurance that any such market will develop. A return on an investment in REIT Units of Centurion Apartment REIT is not

    comparable to the return on an investment in a fixed-income security. The recovery of an initial investment is at risk, and the anticipated return on such an investment is

    based on many performance assumptions. Although Centurion Apartment REIT intends to make regular distributions of its available cash to Unitholders, such distributions

    may be reduced or suspended. The actual amount distributed will depend on numerous factors, including Centurion Apartment REITs financial performance, debt covenants

    and obligations, interest rates, the occupancy rates of Centurion Apartment REITs properties, working capital requirements and future capital requirements. In addition, the

    market value of the REIT Units may decline if Centurion Apartment REIT is unable to meet its cash distribution targets in the future, and that decline may be material. It is

    important for an investor to consider the particular risk factors that may affect the industry in which it is investing and therefore the stability of the distributions that it receives.

    There can be no assurance that income tax laws and the treatment of mutual fund trusts will not be changed in a manner which adversely affects Centurion.

    PAST PERFORMANCE MAY NOT BE REPEATED. Investing in Centurion Apartment REIT Units can involve significant risks and the value of an investment may go down

    as well as up. There is no guarantee of performance. An investment in Centurion Apartment REIT is not intended as a complete investment program and should only be

    made after consultation with independent investment and tax advisors. Only investors who do not require immediate liquidity of their investment should consider a potential

    purchase of Units. The risks involved in this type of investment may be greater than those normally associated with other types of investments. Please refer to the REIT

    Offering Memorandum for a further discussion of the risks of investing in Centurion Apartment REIT.

    The REIT Units are not deposits within the meaning of the Canadian Deposit Insurance Corporation Act (Canada) and are not insured under the provisions of that act or any other legislation.

    www.centurionreit.com 2

  • RESPECT INTEGRITY SIMPLICITY EXCELLENCE

    Centurion Asset Management

    www.centurionreit.com

    Table of Contents

    Centurion Who We Are

    Why Private Investments?

    Investment Solution: Centurion Apartment REIT

    A Real Estate Investment Solution Provider

    with a Strategic Approach to Investment Management

    Largest REIT owner of student housing in Canada

    Experienced at managing rental properties and student housing

    Offers Customized Solutions for Mortgage Financing Needs

    Centurion Asset Management Inc.

    3

  • RESPECT INTEGRITY SIMPLICITY EXCELLENCE

    Centurion Asset Management offers a growing portfolio of private investment

    products, mortgage financing and apartment and student housing property

    management.

    Centurion owns and manages approximately $1 billion in assets.

    Centurion Apartment REIT (the REIT) - 48 quality multi-residential and student housing

    properties in 16 communities across Canada

    Centurion Reals Estate Opportunities Trust (the REOT) mortgage & growth focused

    real estate development projects primarily of interest to the REIT

    www.centurionreit.com 4

    Centurion - Who We Are

  • RESPECT INTEGRITY SIMPLICITY EXCELLENCE

    S&P/TSX Composite Index / 5-year Personal Fixed Term Rates (as at December 31, 2015)

    Sources: Standard & Poors (S&P/TSX Index as December 31, 2015); Bank of Canada (5-year Personal Fixed Term Rates posted rates at Chartered Banks as at December 31 of each year)

    2000

    4000

    6000

    8000

    10000

    12000

    14000

    16000

    Challenge: Volatile Markets / Low Interest Rates

    Riskier asset classes volatile / GIC rates barely cover inflation

    www.centurionreit.com 5

    11,389 Sep 1-00

    15,073 Jun 18-08

    7,567 Mar 9-09

    15,625 Aug 8-14

    5,813 Oct 10-02

    1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

    5.35% 4.60% 3.30% 3.80% 2.80% 2.53% 2.53% 2.68% 3.10% 2.23% 1.63% 1.85% 1.60% 1.80% 1.45% 1.45% 1.25%

  • RESPECT INTEGRITY SIMPLICITY EXCELLENCE

    Solution: Real Estate Investment

    Income: Provides the foundation for monthly income 1

    Investment growth: A hard asset that appreciates over time 2

    Lower volatility2: Not impacted by as many short-term market forces as other

    asset classes 3

    Capital preservation: A fundamental staple with downside protection 4

    Inflation hedge: Real estate has a history of protecting against the destruction

    of wealth caused by inflation 5

    www.centurionreit.com 6

  • RESPECT INTEGRITY SIMPLICITY EXCELLENCE

    www.centurionreit.com

    Types of Real Estate

    Commercial

    Industrial

    Retail

    Services

    Apartments

    Residential Single Family Homes / Condominiums

    Real Estate Sub Sectors

    Investing in Apartments for Income & Stability

    A timely opportunity to invest in one of the safest sectors 3 within the

    real estate market income producing apartment properties in

    Canada

    7

  • RESPECT INTEGRITY SIMPLICITY EXCELLENCE

    Comparing Asset Class Performance

    www.centurionreit.com 8

    Consistently positive growth over the past 30 years

    $10,000 invested (Dec 31-1984)

    1997

    Asian

    Financial

    Crisis

    2008/09

    Global

    Financial

    Crisis

    1987

    Black

    Monday

    Crash

    1998

    Russian

    & LTCM

    bailout

    2000/02

    Internet Bubble

    Bursts

    & 9/11

    MSCI / IPD Canada Residential

    "Apartment" Property Index (TR)

    Private Apartment Property Index exhibits steady growth 7 Growth of $10,000 invested: past 30-year period as at December 31, 2015 (annual update)

    * Annualized return over the 30-year period of above MSCI / IPD Index

    Positive calendar year Total Returns every year over past 30 years

    REITs are not guaranteed, their values can change frequently and past performance is no guarantee of future results. Above MSCI / IPD Index only available with annual data points versus indices shown with quarterly data. It is an unleveraged index. PAST PERFORMANCE MAY NOT BE REPEATED.

  • RESPECT INTEGRITY SIMPLICITY EXCELLENCE

    www.centurionreit.com 9

    Investing for Income & Stability

    OBJECTIVE: Provide investors with stable, monthly tax efficient distributions,

    with the opportunity for long-term growth and a focus on preservation of capital.

    Apartment Investing

    Steady, predictable cash flows with low vacancy rates.

    Favourable market for rentals, with great demographics; Centurion properties are

    generally in the need to rent category with high demand.

    Student Housing

    Consistent with our philosophy of seizing upon strategic opportunities.

    Steady, predictable cash flows with low vacancy rates.

    The largest non-university owner and the only REIT in Canada engaged in the

    student residence business.

  • RESPECT INTEGRITY SIMPLICITY EXCELLENCE

    Three primary strategies employed by Centurion Apartment REIT:

    1) Undervalued Properties:

    Low vacancy and stable tenant base.

    Investing in the properties upgrades, lower operating costs =

    maximized income over time.

    2) Newer, stabilized buildings:

    No additional investment needed = maximum income quickly.

    3) Leverage Centurion REOT Relationship:

    Creating pipeline for new acquisitions for the REIT

    REIT Investment Strategy

    www.centurionreit.com 10

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