INVESTOR TELECONFERENCE PRESENTATION THIRD QUARTER 2025 OCTOBER 30, 2025 Avalon at the Hingham Shipyard Hingham, MA [FAVORABLE SUPPLY BACKDROP FOR ESTABLISHED REGIONS PERSISTS, WHILE THE SUNBELT CONTINUES TO DIGEST STANDING INVENTORY] [SUBURBAN COASTAL PORTFOLIO POSITIONED TO OUTPERFORM] See Appendix for information about forward- looking statements and definitions and reconciliations of non-GAAP financial measures and other terms. For the reasons described in the referenced forward-looking statements, our ...