MID AMERICA APARTMENT COMMUNITIES INC.

Mid-America Apartment Communities, Inc. (NYSE: MAA) is a self-administered and self-managed real estate investment trust focused on multifamily housing. The company operates through Mid-America Apartments, L.P., its operating partnership in which MAA holds a 97.5% interest as of December 31, 2025. MAA's website is https://www.maac.com.

As of December 31, 2025, MAA owned or partially owned 302 multifamily communities comprising 103,083 units across 16 states and the District of Columbia, with significant concentration in the Southeast, Southwest, and Mid-Atlantic regions. The company's top five markets by portfolio concentration are Atlanta, Georgia; Dallas, Texas; Austin, Texas; Charlotte, North Carolina; and Orlando, Florida, which together represent approximately 41.2% of completed apartment units. Thirty-five of the company's communities include retail components.

MAA employs 2,507 associates and operates as a fully integrated organization with in-house expertise in property management, development, redevelopment, acquisition, marketing, sales, and financing. The company pursues growth through acquisitions of existing apartment communities, internal development projects, and pre-purchase transactions with select developers. During 2025, MAA acquired one multifamily property totaling 318 units and completed one development project while maintaining eight communities under development. The company also engages in property redevelopment and repositioning activities, renovating units and upgrading amenities to support rent growth.

MAA's business model emphasizes generating sustainable and stable cash flow to fund dividends through all parts of the real estate investment cycle. The company maintains a diversified portfolio across multiple submarkets, product types including garden style, mid-rise, and high-rise communities, and varying rent price points. MAA targets total debt of approximately 30% to 36% of adjusted total assets and maintains a net debt to Adjusted EBITDAre ratio target of 4.5x to 5.5x. The company accesses both secured and unsecured debt markets and maintains significant access to equity capital markets.

MAA's competitive advantages include its scalable operating systems with automated technology platforms, geographic diversification across 39 defined markets, significant presence in major markets providing local operating expertise, and access to diverse debt and equity capital sources. The company invests in technology innovations to enhance resident experience and operational efficiency, including virtual touring capabilities, online leasing, and smart home technology deployed across over 96,000 units.