Apartment Investment And Management Company · NYSE:AIV
Apartment Investment And Management — Proxy Contest (November 2022)
10 slides from Apartment Investment And Management's proxy contest presentation, Nov 25, 2022
Slide 1: Responding to Aimco's Misrepresentations
Aimco RESPONDING TO AIMCO’S MISREPRESENTATIONS NOVEMBER 2022 L&B|— ‘THIS PRESENTATION, FURNISHED ON A CONFIDENTIAL BASIS TO THE RECIPIENT, IS NEITHER AN OFFERTO SELL NOR A SOLICITATION OF ANY OFFER TO BUY ANY SECURITIES, INVESTMENT PRODUCT OR INVESTMENT ADVISORY SERVICES. ITIS INTENDED EXCLUSIVELY F
Slide 2: Disclaimer
A DISCLOSURE Aimco DISCLAIMER fs materials contained herein (the “Materials”) represent the opinions of Land & Buildings Investment Management, LLC and the other participants named in the proxy solicitation om collectively, the “Land & Buildings”) and are based on publicly available information with
Slide 3: L&B urges shareholders to vote the BLUE Universal Proxy card
• • • • • L&B urges shareholders to see through Aimco’s misleading claims and vote the BLUE Universal Proxy card today for the election of its independent and exceptionally qualified and experienced nominees, Michelle Applebaum and Jim Sullivan
Slide 4: Unwillingness to take ownership of governance failures
/, \NWILLNGNEsS TO TAKE OWNERSHIP OF GOVERNANCE FAILURES Aimco THE COMPANY'S WORDS DON'T MATCH THE FACTS — OR ITS OWN ACTIONS Aimco has called our governance concerns “baseless” and about “a different company” * Three of the current Aimco directors — including Michael Stein who we are opposing — are
Slide 5: Leadership continues to oversee "New" Aimco
A ‘eoncy LEADERSHIP CONTINUES TO OVERSEE “NEW” AIMCO Aim “ ” Leadership has been at Aimco for... How can this leadership 438 + and Board composition be considered ? Lynn Stanfield Jennifer Johnson years of total management tenure Since August 2004 Since January 2004 Since July 2010 “ ” Board has mem
Slide 6: Misrepresenting its historical valuation
/ NISREPRESENTING ITS HISTORICAL VALUATION Aimco AIMCO HAS HISTORICALLY TRADED AT A DEEP DISCOUNT TO PEERS We believe Aimco is misleadingly highlighting its current valuation relative to Apartment Peers Sa New Aimco Relative Valuation v vs. Peers following L&B and Westdale’s involvement ¥ The realit
Slide 7: Misunderstanding its cost of capital
/, N\SuNDERSTANDING ITS COST OF CAPITAL Aimco ADDITIONAL INVESTMENT OVERSIGHT IS SORELY NEEDED Aimco is mistakenly touting its massive increase in development exposure as a major @ New Ameo Has Trpled ts Development Pipeline in 23 Months accomplishment " * The reality is Aimco has had an impaired co
Slide 8: Aimco is an apartment REIT
J s1nco IS AN APARTMENT REIT AIMCO’S CLOSEST PEERS ARE APARTMENT REITS, NOT DEVELOPERS IN OTHER PROPERTY TYPES Aimco is tying itself into knots to avoid comparing itself to its closest peers — other apartment REITs * The reality is a significant majority of Aimco’s asset value is in income-producing
Slide 9: www.AimHighAIV.com
• ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ www.AimHighAIV.com
Slide 10: For additional information
FOR ADDITIONAL INFORMATION LONGACRE SQUARE PARTNERS Dan Zacchei Longacre Square Partners dzacchei@longacresquare.com Aimco Saratoga a John Ferguson Saratoga Proxy Consulting jferguson@saratogaproxy.com (212) 257-1311 LANDandBUILDINGS www.AimHighAlV.com 10
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