Invitation Homes Inc. · NYSE:INVH
Invitation Homes — Investor Presentation (September 2026)
16 slides from Invitation Homes's investor presentation, Sep 9, 2026
Slide 1: Investor Presentation September 2026
Investor Presentation September 2026 Cimarron Ridge, Southern California
Slide 2: Why invest in INVH
Why invest in INVH 1 Resident satisfaction Customer centricity Value-add services Genuine CARETM P R E M I E R C U S T O M E R E X P E R I E N C E P O W E R O F O U R P L A T F O R M Unmatched scale & density Proprietary technology Optimization Centralization A C C R E T I V E C A P I T A L A L L O
Slide 3: Why now: The case for single-family rental
Why now: The case for single-family rental 2 We believe SFR is poised for continued outsized growth versus other residential sector peers L E A S I N G I S M O R E A F F O R D A B L E & O F T E N P R E F E R R E D Average monthly savings of over $1,000 & increasing preference for leasing D E M O G R
Slide 4: July-August 2026 Same Store Leasing Stats
July-August 2026 Same Store Leasing Stats Same Store INVH 2Q 2026 INVH Jul-Aug 2025 INVH Jul-Aug 2026 Average Occupancy 97.1% 96.6% 96.4% Renewals Rental Rate Growth 3.3% +4.6% +4.3% New Leases Rental Rate Growth 1.1% -0.1% +0.3% Blended Rental Rate Growth 2.7% +3.2% +3.2% August YTD blended rental
Slide 5: Capital Allocation Update
Capital allocation led by $700M of stock buybacks since December 2025 4.3% of shares outstanding have been repurchased since December 2025, making us a leader among Residential REITs Dispositions are our primary funding source Homes have been sold primarily to end users, including through our
Slide 6: High-growth locations
High-growth locations Percent of 2Q26 revenue Seattle 5% Minn. 1% Denver 4% Dallas 4% Phoenix 9% Atlanta 13% Tampa 11% Southern California 11% Las Vegas 4% South Florida 12% Northern California 5% Carolinas 6% Jax. 2% Orlando 8%Hou. 2% Chicago 3% Primarily infill locations in high-growth markets for
Slide 7: Sector-leading scale & density
6 Sector-leading scale & density Pod 1 4,579 Homes Pod 2 4,219 Homes Pod 3 4,808 Homes Pod 4 4,777 Homes Owned and managed home counts as of 6/30/2026A T L A N T A Scale and density drive cost efficiency, pricing power, and margin expansion 6
Slide 8: Superior NOI growth since our 2017 IPO
Superior NOI growth since our 2017 IPO Superior NOI growth since our 2017 IPO 7 National Multifamily represents simple average of CPT, MAA, and UDR; Coastal Multifamily represents simple average of AVB, EQR, and ESS. Data, including non-GAAP measures, is from public filings; there can be no assuranc
Slide 9: Resident satisfaction drives renewals, lowers turnover, and strengthens returns
Resident satisfaction drives renewals, lowers turnover, and strengthens returns 8 4.10 / 5.0 Cumulative all-time Google / Yelp rating 4.78 / 5.0 Average stars on post- maintenance surveys >40 MONTHS Same Store avg resident tenure 97.1% Same Store avg occupancy rate 76.7% Same Store avg renewal rate
Slide 10: Disciplined Acquisition Approach
9 -5% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 20 23 20 24 20 25 20 26 New Home Price Premium vs. Resale (12-month average) Homebuilder forward purchasing Disciplined Acquisition Approach Auction purchases New home pricing mo
Slide 11: Our balance sheet gives us flexibility to prioritize shareholder returns
Our balance sheet gives us flexibility to prioritize shareholder returns Our balance sheet gives us flexibility to prioritize shareholder returns 5.4x Net Debt / TTM Adj. EBITDA Over $1.5B of liquidity (cash + revolver capacity) No debt maturing before June 2027 ~90% of real estate is unencu
Slide 12: Millennials & Gen Z fuel long-term demand for single-family rentals
Millennials & Gen Z fuel long-term demand for single-family rentals 11~13k people expected to turn age 35 every day for the next 10 years, per John Burns -3M -2M -1M 0M 1M 2M 3M 4M Age 0–4 Age 5–9 Age 10–14 Age 15–19 Age 20–24 Age 25–29 Age 30–34 Age 35–39 Age 40–44 Age 45–49 Age 50–54 Age 55–59 Age
Slide 13: Leasing is more affordable and increasingly preferred
Leasing is more affordable and increasingly preferred Leasing is more affordable and increasingly preferred 12 Nationwide Cost of Home Ownership vs. Home Rental (1) (1) Source: John Burns Real Estate Consulting; nationwide cost data as of June 2026 and BTR survey data as of September 2026. (2) Sourc
Slide 14: Mom & Pop owners dominate SFR; professionals own just a sliver
Source: John Burns Research & Consulting, Single-Family Rental Analysis and Forecast, published June 2026. 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% Ownership Own 350+ homes Own 100-349 homes Own 10-99 homes Own 1-9 homes 4 7 M I L L I O N R E N T A L H O U S E H O L D S Single- Family: 30% (14M units) Ow
Slide 15: New BTR deliveries peaked in FY24 and expected to further decline
New BTR deliveries peaked in FY24 and expected to further decline New BTR deliveries peaked in FY24 and expected to further decline 14 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000 JBREC Nationwide Build-to-Rent Delivery Schedule Single-Level Rowhomes Townhomes Horizontal Apart
Slide 16: This presentation contains forward-looking statements
This presentation contains forward-looking statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which include, but are not
Invitation Homes — Investor Presentation (September 2026) on 6ix