CREATING VALUE

FUTURE GROWTH TARGETS As Aimco monetizes the seeds it is currently planting, growth, lumpy at times, will follow as proceeds are reinvested. The periodic harvesting of opportunistic value add investments, combined with the steady growth of core and core plus real estate, results in an anticipated 12-16% total portfolio growth. Once Optimal Allocation is Achieved 2020 2025 2030 2035 2040 Expected NAV Growth Components Value Add, Opportunistic, and Alternative Investments ~70% Core and Core Plus ~20% GROWTH Aimco CREATING VALUE - Optimal Allocation Reached Investments Made (Seeds Planted) CORE & CORE+ REAL ESTATE Expected Returns -9% VALUE ADD & OPPORTUNISTIC INVESTMENTS Expected Returns ~18% TOTAL AIMCO PORTFOLIO Expected Returns 12-16% 19

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