Apartment Investment And Management — Proxy Contest (October 2020)

5 slides from Apartment Investment And Management's proxy contest presentation, Oct 16, 2020

Slide 1: L&B Files to Call Special Meeting At Aimco And Delivers Open Letter To Shareholders
L&B Files to Call Special Meeting At Aimco And Delivers Open Letter To Shareholders www.AimHighAlV.com OCTOBER 16, 2020 (L<«B)
Slide 2: AIV Underperformance vs. REITs
Trailing Trailing Trailing Since IPO D F S E R y E A EES SOLE 5Years 3Years 1 Years ly 1994) nee Ay) Investment and Management Company 8% “18% -33% 974% VOICE GIVEN (eves osmann AIV Underperformance vs. REITs Source: Bloomberg Company filings Note: As of 9/21/20; Apartment Peers defined as Avalon®ay
Slide 3: Shareholders Given Persistent Discount
SHAREHOLDERS Ms —_x 40.0% GIVEN ~ 30.0% PERSISTENT =~ ee Ay A Bw DD ! c 9 D | § C 0 U N T T 0 — 7 - . “ . “ “ oe ~ “ ~ “ “ . Source: Green Street
Slide 4: Citi Client Survey
Citi Client Survey | N | EST Mi [ N T Will AIV create additional value through the announced spin? COMMUNITY HAS .: === N Should AlV have a shareholder vote to approve the TH E p . 0 p 0 iN [ [l transaction? SPLIT ; Note: Citi Poll as of September 23, 2020 7:30am ET. Survey was conducted online. The
Slide 5: Please Consent to the Calling of Special Meeting
PLEASE CONSENT TO THE CALLING OF SPECIAL MEETING ON L&B UL) Revues) CARD ASAP [Lé«B | LANDandBUILDINGS Please visit www.AimHighAIV.com for the solicitation statement and other important information