Apartment Income REIT (AIRC) Proxy Filing summary

Executive summary

• Entered into a Merger Agreement on April 7, 2024, with affiliates of Blackstone, under which the company will become a wholly owned subsidiary and go private upon closing.

• Board of directors unanimously approved the Merger Agreement and related transactions.

• Blackstone plans to invest over $400 million to maintain and improve existing communities and may provide additional capital for growth.

• Day-to-day operations are expected to remain unchanged both before and after the Merger closing.

• The Merger is subject to stockholder approval and other customary closing conditions.

Voting matters and shareholder proposals

• Stockholders are being asked to approve the Merger Agreement and related transactions.

• Definitive proxy statement filed on May 21, 2024, and mailed to stockholders.

• Stockholders are urged to read the proxy statement and related materials before voting.

Board of directors and corporate governance

• The board unanimously approved the Merger and related transactions.

• After the Merger, the existing general partner will remain in place as a wholly owned subsidiary.