UDR Investor Presentation

DIVERSIFIED PORTFOLIO COMPOSITION UDR is diversified across markets and price points to generate robust growth with less risk. Market Mix Northeast/Mid-Atlantic: Price Point (1) and Location Within Market ■ A-Quality B-Quality West Coast: 36% of NOI 80% ■ UDR Peer Average 60% 40% 39% of NOI O Sunbelt: 25% of NOI 20% Portfolio-Wide Rental Rate Differential(2,3) % of SS Revenue in Five Largest Markets (2) Less Concentration ■ Coastal A Coastal B 44% 48% 52% 56% ■ Sunbelt A ■ Sunbelt B 67% 33% ■ Urban ■ Suburban 68% 32% ■ Coastal Urban ■Sunbelt Urban ■ Coastal Suburb ■ Sunbelt Suburb Risk 61% More Stability 9% 91% 39% (1) Price point and location charts are based on NOI. A-Quality is defined as having average community rent >120% of the market average rent. B-Quality is defined as having average community rent greater than or equal to 80% but less than 120% of the market average rent. (2) Data as of March 31, 2023. Comparative top-5 markets for peer REITs are defined similarly to UDR's market definitions. (3) Rental rate differential equals the percentage difference between 1st and 3rd quartile rent levels across each REIT's portfolio. Source: Company and peer documents, Nareit. 6

View entire presentation