Investor Presentaiton

Key Takeaways and Updates Premier SFR portfolio and platform strategically positioned to pursue multiple growth opportunities 1) Strong performance driven by successful execution and long-term demographic tailwinds New lease rate growth further accelerated to 14.1% (+1180 bps YoY) in May, up from 10.8% in April and 7.9% in 1Q21 Renewal rate growth also further accelerated to 5.9% (+230 bps YoY) in May, up from 5.5% in April and 4.4% in 1Q21 ▸ Occupancy remains elevated at 98.3% in May (+80 bps YoY), compared with 98.4% in April and 1Q21 Significant pent up demand from millennial generation could favor single-family rental over the next decade 2) External growth is in high gear, driven by a proven multi-channel approach to acquisitions ► Acquired $233 million homes in 1Q21 at a mid-5s stabilized cap rate, on track to achieve $1B+ acquisition target in 2021 Existing cash, operating cash flow, dispositions, and JV capital expected to fund entirety of 2021 acquisition target ► Proven multi-channel approach to acquisitions maximizes opportunities and selectivity in high-growth in-fill locations, with no development risk 3) Targeted initiatives to further elevate the resident experience enhance both resident loyalty and IH growth Unique competitive advantages of high-demand locations, industry-leading scale, and local management enhance ability to efficiently maximize the resident experience Continuing to make progress on expansion of ancillary services and enhanced digital (web and mobile) experience for residents Reinvesting value enhancing capex in homes to tailor fit and finish for residents and enhance durability of homes 3 invitation homes

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