Independence Realty Trust, Inc. (NYSE:IRT) Q1 2023 Earnings Conference Call April 27, 2023 9:00 AM ET Company Participants Lauren Tarola - Investor Relations, Edelman Smithfield Scott Schaeffer - Chief Executive Officer Mike Daley - Executive Vice President-Operations & People Jim Sebra - Chief Financial Officer & Janice Richards, SVP of Operations Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Nick Joseph - Citi Brad Heffern - RBC Capital Markets John Kim - BMO Capital Markets Wes ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _________ to _________ Commission file number 001-36041 INDEPENDENCE REALTY TRUST, INC. (Exact name of registrant as specified in its charter) FORM 10-K (Mark One) | ...

Independence Realty Trust, Inc. (NYSE:IRT) Q4 2022 Earnings Conference Call February 16, 2023 9:00 AM ET Company Participants Lauren Torres - IR, Edelman Smithfield Scott Schaeffer - Chairman and CEO Mike Daley - EVP of Operations and People Farrell Ender - President Jim Sebra - CFO Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Brad Heffern - RBC Capital Markets John Kim - BMO Capital Markets Nick Joseph - Citi Anthony Powell - Barclays Linda Tsai - Jefferies Operator Thank you f ...

INDEPENDENCE REALTY TRUST EARNINGS RELEASE & SUPPLEMENTAL INFORMATION The Enclave at Tranquility Lake Q4 & Full Year 2022 Tampa, FL Total Portfolio NOI Exposure by Market 22 3 • Net income available to common shares of $33.6 million for the quarter ended December 31, 2022 compared to $28.6 million for the quarter ended December 31, 2021. • Value add program has completed renovations at 1,451 units during the year ended December 31, 2022, achieving a weighted average return on investment during the year of 2 ...

Portfolio Overview - IRT owns and operates 122 communities[2] with 36,176 units[3] - The company has approximately $3.8 billion in equity market capitalization[4] - 70% of IRT's Net Operating Income (NOI) comes from Sunbelt markets[2] Financial Performance and Guidance - The company anticipates double-digit NOI growth in 2022[8] - The company projects property revenue growth of 10.6% to 10.8% for same-store communities in 2022[8] - The company expects total operating expense growth of 5.3% to 5.8% for same-store communities in 2022[8] - The company anticipates property NOI growth of 13.25% to 14.25% for same-store communities in 2022[8] Value Add Program - The company has identified a value add pipeline of approximately 20,000 units[39] - Historical value add projects have generated a 21.6% return on investment[39] - The company estimates $959 million to $1.036 billion in incremental value creation through the value add program[40] Geographic Focus - The top 10 markets account for 72% of the company's units and 70% of its NOI[26] - Atlanta represents 15% of IRT's NOI[13] - Dallas represents 11% of IRT's NOI[14]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number 001-36041 INDEPENDENCE REALTY TRUST, INC. (Exact Name of Registrant as Specified in Its Chart ...

Independence Realty Trust, Inc. (NYSE:IRT) Q3 2022 Earnings Conference Call October 27, 2022 9:00 AM ET Company Participants Lauren Torres - IR, Edelman Smithfield Scott F. Schaeffer - Chairman and CEO Ella Neyland - COO Farrell M. Ender - President Jim Sebra - CFO Conference Call Participants Brad Heffern - RBC Capital Markets Austin Wurschmidt - KeyBanc Capital Markets Inc. Unidentified Analyst - Citigroup Inc. Neil Malkin - Capital One Securities, Inc. John Kim - BMO Capital Markets Anthony Powell - Barc ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number 001-36041 INDEPENDENCE REALTY TRUST, INC. (Exact Name of Registrant as Specified in Its Charter) | ...

Financial Data and Key Metrics Changes - The company reported a net loss available to common shareholders of $7.2 million compared to a net income of $3.4 million in Q2 2021, primarily due to higher depreciation and amortization expenses related to the merger with Steadfast Apartment REIT [32] - Core FFO grew to $58.6 million, up from $20.2 million a year ago, with core FFO per share increasing 30% to $0.26 per share [32] - Combined same-store NOI growth was 14.4%, driven by revenue growth of 11.4% and a 12% increase in average rental rates [33] Business Line Data and Key Metrics Changes - The average occupancy rate for Q2 was 95.7%, with new lease rates increasing by 17.2% and renewals up 9.7%, resulting in a blended lease over lease rental rate increase of 12.7% [18][19] - The company completed renovations on 195 units in Q2, achieving an average rent increase of $333 per unit, yielding an unlevered return on investment of 33.5% [24] Market Data and Key Metrics Changes - Approximately 70% of the company's NOI is derived from non-gateway markets in the Sunbelt region, which continue to experience high residential demand due to employment opportunities and population growth [10] - The company noted that the average rent to income ratio for new leases was around 20%, indicating affordability for residents [21] Company Strategy and Development Direction - The company is focused on expanding its presence in the Sunbelt markets and is actively investing in existing communities through a robust renovation pipeline [11][12] - The company raised its full-year 2022 guidance, now targeting 13.75% combined same-store NOI growth and 27% core FFO per share growth at the midpoint of its guided ranges [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the multifamily sector, citing increasing home prices and mortgage rates leading to greater demand for affordable apartment rents [14] - The company is mindful of economic volatility and inflationary pressures but believes its strong portfolio and strategic initiatives will continue to yield strong results [12] Other Important Information - The company closed on a new $400 million unsecured term loan, extending the maturity of $300 million to 2028 and increasing liquidity by $100 million [13] - The company plans to renovate approximately 1,800 units in 2022, with a target of ramping up to 4,000 units in 2023 [26] Q&A Session Summary Question: About same-store revenue guidance - Management acknowledged the guidance is cautious due to broader economic conditions, with an average occupancy target of 95.3% [47][48] Question: Cap rates in the markets - Management noted that cap rates are expanding, with valuations peaking six months ago and a recent adjustment in pricing [51] Question: Capital priorities in the current environment - The company prioritizes capital allocation towards value-add programs, with a disciplined approach to acquisitions [58] Question: Impact of macroeconomic pressures on operating performance - Management confirmed no significant signs of macroeconomic pressure affecting delinquency rates or occupancy [68] Question: Occupancy trends and rent increases - Management indicated that while occupancy dipped slightly, they expect to meet guidance for the year, balancing rent growth with occupancy [70] Question: Property tax assessments - Management is currently appealing higher-than-expected property tax assessments and hopes for better outcomes [85]

The Village at Auburn INVESTOR PRESENTATION June 2022 Q O Durham, NC 1 Table of Contents | --- | --- | |------------------------------------------------------------|-----------| | Overview | 2 | | Recent Developments | 3 – 7 | | Our Competitive Advantage | 8 – 14 | | Our Strategic Investment Opportunities | 15 – 22 | | Our Path Forward | 23 – 26 | | Appendix | | | Track Record of Value Creation | 28 | | Market Statistics | 29 | | Value Add Summary | 30 | | Market Profiles | 31 – 45 | | Demographic Profile | ...