Apartment Investment And Management Company · NYSE:AIV
Apartment Investment And Management — Proxy Contest (December 2022)
15 slides from Apartment Investment And Management's proxy contest presentation, Dec 13, 2022
Slide 1: Aimco's Board & Management Have Delivered Strong Shareholder Returns
Aimco’s Board & Management Have Delivered Strong Shareholder Returns December 2022 Strathmore Square Bethesda, Maryland
Slide 2: Forward Looking Statements
Forward Looking Statements This document contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief, or expectations, including, but not lim
Slide 3: New Aimco's Successful Track Record Since Spin-Off
New Aimco’s Successful Track Record Since Spin-Off New Leadership Team and Reconstituted Board Have Taken Decisive Actions to Drive Shareholder Value Portfolio, Operational, and Capital Structure New Aimco Has Tripled Its • Secured high-quality future development projects in key target markets of So
Slide 4: The Board and Management Have Driven Outperformance
The Board and Management Have Driven Outperformance… New Aimco Has Shown Superior Total Returns Since Current Board and Management Have Been in Place Since Spin (1) 2021 (1) New Aimco’s Relative Outperformance New Aimco’s Relative Outperformance 45% (18%) 26% 36% 64% 3% 46% 34% 46% 46% 10% 43% 17% 1
Slide 5: Which Has Resulted in Strong Relative Valuation Gains
…Which Has Resulted in Strong Relative Valuation Gains New Aimco’s Relative Outperformance vs. Peers on a Premium / (Discount) to NAV Basis Illustrates Investors’ Appreciation of New Aimco’s Strong Execution and Post-Spin Track Record Spread Between Relative Premium / (Discount) to Net Asset Value (
Slide 6: Aimco's Current Relative Valuation Is In-Line With Peers
Aimco’s Current Relative Valuation Is In-Line With Peers While We Are Not Satisfied With Our Valuation, New Aimco Trades Approximately In-Line With Or Better Than Its Peers on a Premium / (Discount) to NAV Basis Premium / (Discount) to Consensus NAV (1) 0% (10%) (20%) (30%) (29%) (34%) (36%) (40%) (
Slide 7: We Are Committed to Further Enhancing Stockholder Value
We Are Committed to Further Enhancing Stockholder Value Ongoing Evaluation of a Broad Range of Options to Enhance Stockholder Value • The Board is not content with performance that is only ‘in-line’ with peers and is actively considering all opportunities available to Aimco to further enhance and un
Slide 8: We Have Significantly Enhanced Investor Outreach Post Spin-Off
We Have Significantly Enhanced Investor Outreach Post Spin-Off Addition of Dissident Nominees Does Not Add Value to Existing Efforts Post Spin-Off and Aimco is Committed to Doing More Detailed quarterly disclosure on development and Page 16 of AIV 3Q’22 Earnings Release 1 redevelopment projects – Ai
Slide 9: Our Board is Independent and Extremely Engaged
Our Board is Independent and Extremely Engaged… Newly Appointed, Majority Independent, and Diverse Board of Directors Including New Chairman and Separation of CEO / Chair Roles The New Aimco board is a majority-independent board with stellar backgrounds (no newly appointed-member had any preexisting
Slide 10: And Our Directors Are Key Contributors to Aimco's Momentum
…And Our Directors Are Key Contributors to Aimco’s Momentum Impressive Track Records and Public Company Board Experience Jay Paul Leupp (Audit Committee Chairman) Land & Buildings’ Nominees ✓ Mr. Leupp is adding particular value to Aimco in the area of investor relations as a result of his deep expe
Slide 11: Mr. Stein Brings Deep Institutional Knowledge of New Aimco
Mr. Stein Brings Deep Institutional Knowledge of New Aimco Removing Michael Stein From the Board is Unwarranted & Would Impair New Aimco’s Ongoing Strategic Review ✓ Michael Stein brings deep institutional knowledge of Aimco and significant experience executing strategic transactions to maximize sto
Slide 12: Settlement Discussions With Land & Buildings Have Not Been Constructive
Settlement Discussions With Land & Buildings Have Not Been Constructive L&B’s Demands Have Been Unreasonable and Not in Shareholders’ Best Interest • Aimco recently held discussions with Land & Buildings and offered to appoint Mr. Sullivan to the Aimco Board. Under Aimco’s proposal, Mr. Sullivan was
Slide 13: Glass Lewis' Perspectives on New Aimco
Glass Lewis’ Perspectives on New Aimco On Strength of New Aimco’s Incumbent Directors • “Lastly, with respect to the incumbents who L&B is opposing this year, we take note of Mr. Stein’s accounting, executive, and business separation experience, as well as his role as chairman of the investment comm
Slide 14: This is the Right Board to Oversee Aimco's Continued Momentum
This is the Right Board to Oversee Aimco’s Continued Momentum ELECTING LAND & BUILDINGS’ SLATE OF DISSIDENT DIRECTOR NOMINEES WOULD NOT BE ADDITIVE AND WOULD REMOVE EXPERTISE FROM THE NEW AIMCO BOARD THAT IS CRITICAL TO THE COMPANY’S SUCCESS. Vote “FOR” All of New Aimco’s Highly Qualified Director N
Slide 15: Glossary and Reconciliations of Non-GAAP Financial and Operating Measures
Glossary and Reconciliations of Non-GAAP Financial and Operating Measures This document includes certain financial and operating measures used by Aimco management that are not calculated in accordance with accounting principles generally accepted in the United States, or GAAP. Aimco’s definitions an
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