AvalonBay Communities (AVB) investor relations material

Company overview and business model

• Operates as a REIT, developing, acquiring, owning, and operating apartment communities in major U.S. metropolitan areas and select expansion regions.

• Focuses on long-term shareholder value through strategic asset management, development, and selective dispositions.

• Employs a multi-brand strategy targeting diverse customer segments, leveraging technology and centralized services for operational efficiency.

• Principal financial goal is to maximize shareholder value via disciplined capital allocation and market selection.

• Maintains REIT status since 1994, distributing sufficient income to avoid corporate-level taxation.

Financial performance and metrics

• As of April 27, 2026, 139,112,068 shares of common stock were issued and outstanding.

• Common stock last traded at $183.50 per share on April 28, 2026.

Use of proceeds and capital allocation

• Will not receive cash proceeds from the issuance of shares; redemptions increase ownership interest in the DownREIT.

• Capital structure is managed to ensure continuous access to cost-effective capital and support growth initiatives.