DENVER – (BUSINESS WIRE) – Apartment Income REIT Corp. (NYSE: AIRC) (“AIR”) was created to be the best and most efficient way to own multi-family real estate. AIR’s simple and transparent business model, with best-in-class operations, low overheads and the security of a diversified portfolio and strong balance sheet, supports a current high return of 4.0%¹.

AIR was also created to be fiscally efficient. AIR is not currently expected to require taxable stock dividends and is expected to have a more favorable dividend profile for taxable investors. Only about 60%² of AIR’s dividend should be taxable, compared to the apartment industry average of around 99.8%². Approximately 40% of AIR’s dividend is expected to be a tax-free return of capital. For a taxable investor, AIR’s current already higher return should be even better.

About AIR

AIR is a real estate investment trust focused on owning and managing quality apartment communities located in the largest markets of the United States. AIR is one of the nation’s largest apartment owners and operators, with 99 communities in 12 states and the District of Columbia. AIR’s common stock trades on the New York Stock Exchange under the symbol AIRC and is included on the S&P 400. For more information on AIR, please visit our website at www.aircommunities.com.

Forward-looking statements

This document contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements include all statements that are not statements of historical fact and those regarding our intention, beliefs or expectations, including, but not limited to, statements regarding the expected taxable nature of future dividends from AIR. We caution investors not to place undue reliance on these forward-looking statements.

These forward-looking statements are based on the judgment of management as of that date, which is subject to risks and uncertainties. Risks and uncertainties that could cause actual results to differ materially from our expectations include, but are not limited to: the effects of the coronavirus pandemic on AIR’s business and on the global and US economies in general, as well as that nature and duration continuous, dynamic and uncertain. pandemic, which all accentuates the impact of the other risks and factors described here, and the impact on the entities in which AIR has a partial interest, and the impact of the foreclosure on residents, commercial tenants and operations of ‘AIR; real estate and operational risks, including fluctuations in real estate values ​​and the general economic climate in the markets in which we operate and competition for residents in those markets; national and local economic conditions, including the pace of employment growth and the level of unemployment; the quantity, location and quality of the competitive new housing supply; the timing and effects of acquisitions and dispositions, which could materially affect the tax character of future dividends; changes in operating costs, including energy costs; negative economic conditions in our geographic areas of operation; loss of key personnel; AIR’s ability to maintain current or projected occupancy rate, rental rate and operating results; insurance risks, including the cost of insurance, natural disasters and severe weather events such as hurricanes; financing risks, including the availability and cost of financing; the risk that cash flow from operations will be insufficient to meet required payments of principal and interest; the risk that profits may not be sufficient to maintain compliance with covenants, including financial coverage ratios; legal and regulatory risks, including costs associated with pursuing or defending claims and any adverse outcome; the terms of laws and government regulations that affect us and interpretations of such laws and regulations; any environmental liabilities, including costs, fines or penalties that may be incurred due to the necessary remediation of contamination of apartment communities currently or previously owned by AIR; The relationship between Aimco and AIR after the separation of the company; the ability and willingness of Aimco and AIR and their subsidiaries to meet and / or perform their obligations under any contractual arrangement entered into between the parties in connection with the separation of activities and any of their obligations to indemnify, defend and hold the other party harmless from and against various claims, disputes and liabilities; and the ability to derive some or all of the benefits that we hope to derive from the separation of activities; and other risks and uncertainties described from time to time in documents filed by AIR with the Securities and Exchange Commission.

In addition, AIR’s current and continued qualification as a real estate investment trust involves the application of highly technical and complex provisions of the Internal Revenue Code and is dependent on AIR’s ability to meet the various requirements imposed by it. ‘Internal Revenue Code, through actual operating results, distribution levels and shareholder diversity.

Readers should carefully review AIR’s financial statements and accompanying notes, as well as the section titled “Risk Factors” in Item 1A of AIR’s Annual Report on Form 10-K for the year ended December 31. 2020, and other AIR Files documents from time to time with the Securities and Exchange Commission. These documents identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in forward-looking statements.

These forward-looking statements reflect the judgment of management as of that date and AIR assumes no obligation to revise or update them to reflect future events or circumstances. This press release does not constitute an offer to sell any securities.

¹ Based on a ten-day average closing price ending March 15, 2021 of $ 42.63 and an annualized dividend of $ 1.72.

² The tax character of AIR is based on management’s current estimate for 2021 and actual results could differ significantly; the nature of the income of the six major publicly listed apartment REITs (AVB, CPT, EQR, ESS, MAA and UDR) is based on 2020 as shown.