Investor Presentaiton

Track Record of Consistency and Sector-Leading Growth Differentiated locations, scale, and local expertise have driven consistent outperformance in organic growth 2017 SS-NOI Growth 7.4% 2018 SS-NOI Growth Invitation Homes 4.4% 2019 SS-NOI Growth Invitation Homes 5.6% Invitation Homes American Homes 4 Rent Coastal Multifamily 5.1% National Multifamily 2.9% 2.9% American Homes 4 Rent National Multifamily 2.8% Coastal Multifamily 2.3% 2020 SS-NOI Growth Invitation Homes American Homes 4 Rent National Multifamily Coastal Multifamily -6.1% Cumulative SS-NOI Growth (2017-2021) Invitation Homes American Homes 4 Rent National Multifamily Coastal (1) -1.5% 2.0% 3.7% National Multifamily American 2.8% Homes 4 Rent Coastal Multifamily 2021 SS-NOI Growth Invitation Homes American Homes 4 Rent National Multifamily Coastal Multifamily -5.1% 11.8% 2.9% 9.4% 8.7% 4.2% 3.7% 3.3% 34.3% 24.2% $87M incremental IH SS-NOI $195M incremental IH SS-NOI Multifamily -3.1% $323M incremental IH SS-NOI 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 assurance that our basis for computing this non-GAAP measure is comparable with that of other companies, including those mentioned above. 8 invitation homes

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