Board of Trustees| CANMARC REIT

CANMARC’s governance practices, investment guidelines and operating policies are overseen by a Board of Trustees consisting of a minimum of three and a maximum of 12 trustees, a majority of whom must be Canadian residents. CANMARC must also have at all times a majority of trustees who are independent.

Mandate

The mandate of the Board of Trustees is to provide stewardship and to oversee the affairs of CANMARC and its business.

Trustees

CANMARC’s Board of Trustees is currently composed of seven members, four of whom are independent.

Committees

Pursuant to CANMARC’s Declaration of Trust, the Board of Trustees has established four committees of the Board: an Audit Committee, a Governance and Nominating Committee, a Compensation Committee and an Investment Committee.