text: Killam earned FFo of $38.8 million, or $0.72 per share, during 2013 compared to $36.1 million, or $0.72 per share, during 2012. Killam was 
  able to increase FFO by 7.4% during 2013 due to new acquisitions and developments, interest expenses savings on refinancings, reduced 
  administrative costs and interest savings from the repayment of the Company’s $10 million subordinated debentures in January 2013. 
  
  These positives were offset by a 0.4% decrease in same store net operating income due to higher natural gas prices, the sale of two MHC 
  portfolios over the last two years and a 7.8% increase in the shares outstanding following a $34.5 million equity raise in December 2012. Timing 
  differences between the funds generated from the 2012 equity raise and MHC property sales and the deployment of funds for acquisitions had a 
  short‑term dilutive impact on FFO per share results. Timing of the lease‑up of developments has also had a short‑term dilutive impact in 2013. 
  
  FFO has been adjusted for tax planning costs incurred in 2013. As a corporation, Killam has engaged a third party to help evaluate the Company’s 
  tax planning options to ensure the most efficient tax structure for shareholders in the long‑term. These costs are unique to Killam’s current 
  structure and have therefore been removed for FFo purposes. 