AvalonBay Communities (AVB) investor relations material

Voting matters and shareholder proposals

• Twelve nominees are up for election to the board of directors, each to serve until the 2027 Annual Meeting and until successors are elected and qualified.

• Shareholders are asked to approve, on a non-binding advisory basis, the compensation paid to Named Executive Officers.

• Approval of the 2026 Equity Incentive Plan is proposed.

• Ratification of Ernst & Young LLP as independent auditors for the year ending December 31, 2026 is on the agenda.

• Proxies are authorized to vote on any other matters that may properly come before the meeting.

Board of directors and corporate governance

• Twelve director nominees are recommended for election, with the board supporting each candidate.

Executive compensation and say-on-pay

• Shareholders are invited to cast a non-binding advisory vote on executive compensation, including the Compensation Discussion and Analysis and related tables.