CHARTERS & GUIDELINES

Audit Committee Information

The Declaration of Trust requires the creation of an Audit Committee, consisting of at least three Trustees, to review the financial statements of the REIT. One member of the Audit Committee must be an accountant and all Trustees on the Audit Committee must be Independent Trustees and must be financially literate. The Audit Committee’s responsibilities include: (i) reviewing the REIT’s procedures for internal control with the REIT’s auditors and Chief Financial Officer; (ii) reviewing and approving the engagement of the auditors; (iii) reviewing annual and quarterly financial statements as well as all other material continuous disclosure documents, such as the REIT’s annual information form and management’s discussion and analysis; (iv) assessing the REIT’s financial and accounting personnel; (v) assessing the REIT’s accounting policies; (vi) reviewing the REIT’s risk management procedures; and (vii) reviewing any significant transactions outside the REIT’s ordinary course of business and any pending litigation involving the REIT.