basis points (“bps”) lower than the weighted average interest rate prior to refinancing. The Company also refinanced $10.7 million of MHC 
mortgages at a weighted average interest rate of 4.34%, 190 bps lower than the weighted average interest rate prior to refinancing. These 
refinancings create interest savings of $1.2 million on an annualized basis.
Stable FFO Despite Pressures on Non‑Controllable Costs
Killam generated FF o per share of $0.72 during 2013 consistent with FF o per share of $0.72 in 2012. lower interest costs, earnings associated 
with new acquisitions and developments, and savings in administrative costs were offset by an unprecedented increase in natural gas pricing 
in Atlantic Canada, a reduction in NOI related to the disposition of ten MHCs in December 2013 and twelve MHCs in May 2012, and an 8.9% 
increase in the weighted average number of shares outstanding. the equity raise in late 2012 included funds to support development and 
acquisitions, the full benefit of which was not realized until halfway through 2013. The Company also acquired land for future development of 
$2.9 million and incurred costs related to two new developments projects in St. John’s and Cambridge totalling $12.7 million during 2013. The 
benefit on FFO of the deployment of these funds will not be realized until the respective projects are completed in Q3 2014 and early 2015.
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