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Investor Presentaiton

Key Takeaways And Updates We are the nation's premier single-family home leasing company, with an emphasis on the resident experience April Same Store results remained strong: New lease rate growth of 7.5% vs 5.7% in 1Q23, with sequential acceleration every month so far in 2023 Renewal rate growth of 7.2% vs 8.0% in 1Q23 ☐ Blended rate growth of 7.3%, consistent with 1Q23 ☐ Average occupancy of 97.8%, consistent with 1Q23 Loss to lease of approximately 5-6% as of end of April Our best-in-class resident experience focuses on choice, flexibility, and convenience, with a high level of service that is unique among an industry comprised mostly of smaller operators Supply and demand fundamentals for SFR housing expected to remain favorable, with the millennial population just beginning to reach our average resident age of 39 years old In all 16 of our markets, it is more affordable to lease one of our homes today than it is to buy, by a weighted average savings of over $900 per month or nearly 30%, according to data from John Burns as of 1Q23 We believe our emphasis on location, scale and eyes in markets is an evergreen strategy that offers us many competitive advantages Phoenix 3 invitation homes™
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