Aimco 2017 Report - Web & Email

AIV ACCOUNTABILITY. INTEGRITY. VALUE. AIMCO CORPORATE RESPONSIBILITY REPORT 2017

A Message from the CEO settle in. We do the work to maintain the building and grounds so that you Aimco is a business. the larger community; and to provide have time to enjoy life. We embrace the duty rewarding and meaningful employment to manage for our teammates. NeigHbors productively the A neighbor means more than capital entrusted to At Aimco, here’s how we give content living nearby. A neighbor is respectful us. We have posted to these words: and considerate, friendly and good sparkling financial company. A neighbor listens carefully returns over the past Homes and might help with small chores.decades. What matters more is that we An apartment or house becomes a At Aimco, we take seriously ourconduct our business with integrity; home when it is comfortable and safe, undertaking to select your neighbor.transparency; hard work; and when you live there and feel at ease, We screen for stable and responsibleaccountability. We recognize that we when the space is filled with feelings people who appreciate yourare fiduciaries for the investment made and memories of the time that you have commitment to be a good neighborby our shareholders. We aim to create spent there resting or reconnecting and make a similar pledge to you. Welong-term and enduring values. We with family and friends. At Aimco, we require all Aimco residents to sign andgovern ourselves through an work to make your home safe and fulfill our Good Neighbor Commitment.independent and engaged board of healthy. For your health, we provide It’s one reason we do not allow short-directors with specific skills, broad lives, smoke-free communities, fitness centers term rentals or other transient uses.and differing life experiences. for exercise, and, frequently, convenient We want you to know your neighbors. access to bike trails and local parks.Aimco is also a calling: to provide homes We upgrade kitchens so that you can CommuNityfor our customers; to encourage entertain in style and we provide dog An Aimco property can itself be aneighbors; to engage responsibly with parks for your four-footed roommates. community, filled with shared activities We offer longer leases so that you can such as a barbecue with neighbors or taking your dog for a romp on ourPAGE 1

pet-friendly grounds. A community by providing English language training table of Contentscan also mean something larger: and paying their costs to becomeengagement with a local park or United States citizens. We encourage soCiAl respoNsibility . . . 3town government; shared national them to plan for their futures by A Place to Call Home . . . 4sentiments or even global priorities. opening retirement savings accounts A Trustworthy Team . . . 7Community is defined by a sense of for all teammates. We provide Giving Back . . . 10mutual destiny and interdependence. financial support to deal with Partnerships in the Community . . . 13At Aimco, we foster community when unexpected emergencies. And, wewe “give back” through Aimco Cares provide opportunities to make good eNViroNmeNtAlto visit the needy, clear trails and clean friends by sponsoring social activities stewArdsHip . . . 15parks, celebrate patriotic causes, and away from work. CorporAte goVerNANCe . . . 19tend the environment. eNViroNmeNtAl, soCiAl ANd Yes, Aimco is a business. It is also a goVerNANCe HigHligHts . . . 21CAreers high calling with opportunities to serveAimco employs a thousand and others. It is where we work…and how AiV: Aimco common shares are traded on themore who depend on their jobs to we live with purpose. New york stock exchange under the tickerprovide for their families and save for symbol AiV.the future. Most also find purpose in Terry Considine Cover images, clockwise left to right:providing homes for others and Chairman and CEO Aimco Cares volunteers beautify the famoussatisfaction in work well done. Aimco Apartment Investment and Charles river esplanade in boston, mA;helps teammates learn new skills, add Management Company an Aimco Community manager guides a potentialnew responsibilities, and earn higher resident through the leasing process; indigoincomes. We pay teammates when Apartment Homes in redwood City, CA.they are away, called to active duty inour nation’s armed services. We PAGE 2welcome teammates from other lands

SOCIAL RESPONSIBILITY Aimco’s commitment is best seen by the INTEGRITY with which we treat residents, teammates, business partners, and neighbors.PAGE 3

SOCiAl rESpOnSibilityA Place to Call 53% 96%Home Average Daily Residents who chose to renew their Occupancy in 2017Providing homes for others is leases in 2017 to stay another yearAimco’s high calling. Aimco feels a trustworthy, responsible, and caringsense of mission to consistently expect, a respectful and orderly neighbor. Aimco makes a reciprocalprovide quality apartment homes in environment – a stable neighborhood pledge that the community will be safe,a respectful environment delivered that is a sanctuary from the busy pace clean, and welcoming. The Aimcoby a team of people who care. of daily routines. To ensure that Aimco commitment to pick your neighbor residents can enjoy a quiet, safe, and is an important reason why Aimco doessAfety ANd Comfort settled community, each prospective not permit short-term rentals or otherAimco residents make their homes resident is screened by Aimco. Before transient uses.in distinctive, well-maintained, and signing a lease, each prospectivecomfortable communities designed resident is asked to make a written HeAltHy liVesto complement their lifestyles. Good Neighbor Commitment to be a Aimco communities support the good health of their residents, who canA seNse of NeigHborHood opposite: Aimco residents enjoy distinctive breathe more easily knowing that allMore than its physical structures, a amenities and lifestyle experiences, Aimco apartment homes are non-neighborhood is the web of feeling including poolside morning yoga sessions smoking. For residents who makeamong caring neighbors where like the one shown on the rooftop of the exercise a part of their daily routine,individuals and families can relax, sterling in philadelphia, pA. most Aimco communities providerefresh, and reconnect. below: the rooftop social lounge at Vivo contemporary, fully-equipped fitness Apartment Homes in Cambridge, mA isWhen a resident decides to live with where residents can relax and recharge.Aimco, he or she deserves, and can PAGE 4

SOCiAl rESpOnSibilitycenters with features such as top-of- “we absolutely love living challenging friends to a gamethe-line cardio equipment, weight at 3400 Avenue of the Arts. of pool, or attending a wine night orrooms, self-service video classes, spin it was a very nice transition chef presentation at one of ourrooms, and yoga studios. For biking for us after selling our home of demonstration kitchens.enthusiasts, many Aimco communities 15 years and being newly emptyoffer nearby trails, secure storage nesters. everyday feels like we A digitAl worldrooms, and space for bike maintenance. are on vacation in Hawaii!” With many residents choosing toOften, residents have the advantage of work from home, Aimco communitiesbeing near walking paths or within —3400 Avenue of the Arts resident in offer high-speed internet connectivitywalking distance of places to work, Costa mesa, CA and Wi-Fi access. In a world of onlineretail stores, and various amenities. purchases, most Aimco communities family, friends, and neighbors, residents have modern and secure lockers withsoCiAl CoNNeCtioN can head outdoors to enjoy comfortable online delivery notices and “24/7”When it is time to kick back and let go spaces, such as landscaped lounges, availability for package retrieval.of the day’s tensions, or to gather with professional kitchens, cozy fire pits, abundant open space, and rooftop KeepiNg resideNts sAfebelow: At Aimco, pets are welcome, too, recreational areas, some with heated iN tHe stormas a part of the family. with more than pools and many with amazing views.8,000 furry friends who call our communities Or they can enjoy indoor amenities by “on behalf of my family i’d likehome, Aimco offers many pet-friendly sitting next to the fireplace in a resident to express our sincere thanksamenities including dog parks, pet washing lounge, watching sports on a big screen, and appreciation for yourstations, doggy daycare, and professional work during Hurricane irma.grooming services. your diligent and thoughtful approach to the situation helped us all to feel safe, secure and even comfortable. timely information, advice and instructions were exactly what we needed to make our decisions and take action.” – flamingo south beach resident in miami beach, fl For most routine matters, residents enjoy the convenience of self-service and can contact us online at the times of their choosing to renew leases, pay rent, or submit service requests. outstANdiNg Customer serViCe Aimco is customer-focused. Residents are given the opportunity to grade us on every interaction as to how well we met their expectations…and in 2017 did so more than 84,000 times. Resident grades are used the next day by site teams to recognize and improve our good service.PAGE 5

fiVe yeArs of outstANdiNg ANd improViNg Customer serViCe sCoresAimco’s dedication to world-class customer service is reflected in its Customer SatisfactionScores (CSAT). Since 2013, Aimco’s independently verified CSAT ratings have continued toimprove, reaching a record high in 2017.3.99 4.0620132014 4.152015 4.182016 4.252017 Average across all Aimco communities (on a scale of 1 to 5). PAGE 6Transparency is another Aimcovalue. Resident grades and commentsare published on property websitesto provide prospective residents awindow on the opinions of their futureneighbors.Aimco teammates continue to raise thebar for meeting resident expectationsand we continue to improve. Customersatisfaction scores have increasedsteadily over the past five years andin 2017 set a new record of 4.25.Above: Hyde park tower in Chicago, ilearned the highest Customer satisfactionscores across all Aimco communities, closingout the year with 4.65 out of 5 stars.right: Aimco’s inviting community spacesenable residents to connect and have fun inrelaxing, comfortable environments.

A Trustworthy and senior leaders answer any and all Above: team gatherings are greatTeam questions submitted in real-time by opportunities for teammates to engage, teammates across the country. In 2017, collaborate, and connect with senior leadersA collegial, high performing, Aimco hosted a lively, nationally and each other.talented team is the foundation for broadcast town hall meeting in Denver below: marek Cwalinski, service manager atAimco success. Team members where more than 300 team members wexford Village Apartments in worchester,share a passion for excellence while heard directly from the CEO. Hundreds mA, is congratulated by director of serviceliving the Aimco values of integrity, more participated remotely in a free- Quality taran francis for becoming arespect, collaboration, customer flowing discussion of the issues and certified Aimco service leader through thefocus, and responsibility for results. opportunities facing our business. company’s new skill-based recognition program.respeCt ANd CollAborAtioN CreAtiNg CoNNeCtioNsAt Aimco, each person is entitled to Aimco teammates form relationships in while enjoying sports, culture, familyrespect. Our teams work together and frequent meetings at work and share activities, and social gatherings.value the free exchange of information comradery away from the job throughand ideas. We welcome all facts, company-funded AimcoLive! activities Aimco connects team members acrossand embrace opportunites to improve where teammates build friendships the continent using online platforms toour common enterprise. We trust share company news, feature teamour teammates and appreciate member accomplishments, and showcasecollaboration. We encourage the successes at high-performing communities.balance of work and family, offering In 2017, the Aimco Connection, theteammates flexibility to find what company intranet, ran 300 uniqueworks best for them. stories and introduced greater interactivity to inform and engage teammates. TeamEach quarter, the entire Aimco team is members “got social” with a purposeinvited to participate in a national using Yammer to post team successes,teleconference featuring business spotlight communities, and formupdates and an open forum. The CEO discussion groups to serve as real-time resources for advice and best practices.4.23Out Of 5 Average team engagement scores eNCourAgiNg iNNoVAtioN for the past five years The Aimco culture encourages new ideas and “playing fast.” Teammates form ad hoc think tanks to provide their perspectives on what we can do better to support innovation, promote teamwork,PAGE 7

SOCiAl rESpOnSibilityAimco Named a top workplacein 2017, Aimco earned its fifth consecutive recognition as a denver post top workplace in Colorado. Amonghundreds of participating companies, Aimco is one of only a dozen recognized for the past five consecutive years.the coveted designation is based on results of a third-party, confidential survey of hundreds of team members whogave Aimco high marks in areas including workplace culture, leadership, and advancement opportunities.and deliver outstanding service to CollAborAtiNg for CoNtiNuous improvements in such areas as vendorresidents. In 2017, Service Managers improVemeNt performance, online leasing, approvalfrom across Aimco gathered to share With an eye toward keeping our procedures, team training, andbest practices and discuss how we might leaders’ focus on operational excellence, landscape management. Workingbetter support their critical role by Aimco formed Team ACE (Aimco together to achieve common businessintroducing greater efficiencies, better Community Enhancement) – a goals spurred innovation and createdtools, and more opportunities for training collaboration among senior leaders and closer connections among teammates.and career advancement. In response, community teams to take a fresh lookAimco launched new training programs at how properties can improve supportiNg CAreer AdVANCemeNtfor Service Managers with increased processes and deliver outstanding Aimco makes a substantial investmentcompensation for new skills learned and customer service. ACE teams visited in its greatest asset – its team members.with improved equipment, such as mobile 40 communities over the past two In 2017, Aimco spent more thandevices, designed to give teammates years to assess challenges, gather $2 million to support team development.modern tools to do their best work. recommendations, and accelerate Teammates new to Aimco are trained in Moments That Matter to learn the Aimco culture and how it influences daily interactions with residents and teammates alike. Aimco site teams receive specialized customer service training, a toolkit for creating exceptional experiences for each resident they encounter. left: Vice president of operations gail may and regional property manager robin silverman present the 2017 Humberto Award to rich muhlbach, service manager at savannah trace Apartments in schaumburg, il. Named for an exemplary Aimco teammate, the annual award is a national recognition of a team member who embodies Aimco’s mission, vision, and values. PAGE 8

With an intentional focus on advancing privileges and accept the responsibilities Above: Aimco’s national propertythe skills of service team members, of a United States citizen. management leadership team meets inthe new Aimco Service Leader phoenix, AZ for the annual operationscertification program gives applicants furtHeriNg flexibility iN tHe kick-off meeting to celebrate pastthe opportunity to earn a unique worKplACe accomplishments and discuss their visiondesignation for achieving competencies Aimco encourages its high performing for the upcoming year.in vacancy turn management, vendor team to maintain a healthy work/lifeinteraction, and job safety. Upon balance. Making time to attend a school for even greater flexibility in their worksuccessful completion of the program, event, accompany a parent to a medical schedules and to introduce “Dress forservice managers receive pay increases appointment, or head to the gym for Your Day” giving offsite team membersand formal recognition from their team. a workout are priorities team leaders more options in choosing their recognize and support. In 2017, workplace attire.eduCAtioN ANd pAViNg tHe Aimco’s Flexibility Task Force madepAtH towArd u.s. CitiZeNsHip recommendations that were adopted to A stroNg ANd steAdy teAmAimco supports educational accommodate team members’ requests A highly experienced team contributesopportunities pursued by teammates, to the strength and stability of theincluding English as a Second Language “At Aimco i have the company and provides for seamless(ESL), for those new to our immigrant freedom, flexibility and support succession planning. More than two-nation. In 2017, the Aimco Cares to learn and grow both thirds of open positions at Aimco areNaturalized Citizenship Benefit was personally and professionally. filled by internal talent. At the seniorlaunched to extend financial support i feel valued and appreciated executive level, Aimco leaders have anand guidance to team members wishing for my contributions as well as average tenure of 15 years, providing ato become naturalized citizens. Teammates for who i am as a person.” strong team culture and the steady andwho pursue naturalization are eligible consistent execution of business plansto have their application costs paid by – Aimco team member Comment and objectives.Aimco as an encouragement to gain the workplace dynamic surveyINVESTING IN OUR TEAM $2.1 M $1.1 M $48,500 Invested in teammember training and development Aimco Cares scholarship funds Aimco Cares 4U emergency awarded to 565 children of Aimco financial assistance for teammates in 2017 team members (2006-2017) in 2017PAGE 9

SOCiAl rESpOnSibilityGiving Back 21-dAy sAlute to VeterANs Aimco teams from New York to LosAimco Cares, our philanthropic Angeles stepped up to prepare careprogram, empowers hundreds of packages for deployed service menAimco team members to give their and women, visit and serve meals totime and energy to assist worthy veterans in retirement homes, andcauses across the country. organize local Veterans Day events to honor the men and women who haveAimco encourages teammates to served in uniform to preserve ourbecome involved in improving their country’s freedoms.communities and gives each teammate15 hours of paid time annually to use right: executive Vice president of operationsfor that purpose. Whether beautifying a Keith Kimmel and his team joined forcescommunity park, sorting donations at a with the human resources team at the foodlocal food bank, or raising funds to help bank of the rockies sorting and packing foodchildren in need, Aimco team members for 6,000 meals for families served by theanswer the call to serve. The Aimco denver, Co nonprofit.Cares Spring Week of Service providesa focused time for team members below: A team of Aimco Cares volunteersnationwide to join forces and do good. hauled and spread mulch at a boulder, Co playground in the aftermath of a spring snowfall. PAGE 10

SOCiAl rESpOnSibility SALUTING OUR VETERANS bottom: teammates served lunches and shared stories during a Vietnam veteran appreciation event at the martin luther King senior Center in philadelphia, pA. top right: team members in washington, d.C. presented a $120,000 donation to the tragedy Assistance program for survivors (tAps), a nonprofit that assists family members who have lost a loved one in the line of duty. over the last 10 years, Aimco has supported tAps with $1,153,000 raised by the Aimco Cares Charity golf Classic. Aimco eVp miles Cortez serves on the tAps board of directors. middle right: Aimco’s indianapolis team partnered with the Hoosier Veterans Assistance foundation to serve homeless veterans. bottom right: the Chicago Aimco Cares team, in partnership with operation support our troops, stuffed 200 holiday stockings for active duty soldiers overseas.IMPACTING OUR COMMUNITIES 150 137 $530,000 Local nonprofits Aimco Cares served volunteer events Record proceeds donated to the Aimco Cares Charity Golf ClassicPAGE 11

The 21-Day Salute to Veterans reaching a million dollars for our scholarscampaign created moments that matterfor our veterans while uniting Aimcoteams in a patriotic cause.In 2017, hundreds of teammates used5,964 hours to support 150 local causes.giViNg witH gusto Allen liu doris osei richard NgoIn 2017, Aimco provided an extra washington, d.C. yonkers, Ny stockton, CAincentive to give back, a financial previous scholarship Earning a pursuing amatch for each hour of sweat equity recipient and a former communication arts civil engineeringcontributed through Aimco Cares. Aimco resident of degree with a double degree atTeams with 100% participation earned Wah luck House in minor in marketing and university of“gusto grants” to donate to local causes Washington, D.C. human resources at the pacific inthey selected. More than $57,000 studying computer Saint thomas Aquinas Stockton, CA.was contributed to nonprofits across science at the university College in Sparkill, ny.the country selected by the local teams of Maryland, College park.who best know their good work.A millioN dollAr milestoNe donated its millionth dollar to the “Aimco Cares has been a leadingHundreds of students living in National Leased Housing Association contributor to the NlHA’saffordable housing nationwide have Education Fund which administers the education fund which makes aseen their dreams of a college education scholarship program for aspiring critical difference in whether acome true with the support of an Aimco students. student in affordable housing canCares Opportunity Scholarship. Aimco go to college.” AimCo CAres CHArity golfbelow: After beautifying the historic Charles ClAssiC – NlHA executive director denise muhariver esplanade, the boston area Aimco The 2017 Aimco Cares Charity GolfCares team posed for a photo in front of the Classic “drove the green,” setting a new program. Through the generosity ofedward A. Hatch memorial shell in back bay, tournament fundraising record of Aimco business partners, the event hasboston. $530,000 to benefit military families, yielded more than $4.5 million over theright: Aimco teammates and business provide college scholarships for students past 14 years.partners enjoyed the opportunity to build in affordable housing, and fund therelationships during the 14th Annual Aimco Aimco Cares Give with Gusto grantCares Charity golf Classic. PAGE 12

SOCiAl rESpOnSibilityPartnerships inthe CommunityFor Aimco, being an outstandingcorporate citizen means more thaninvesting in the ownership andmanagement of real estate: itmeans being an active contributorto the economic growth and vitalityof neighborhoods and forgingimpactful partnerships with localgovernments, nonprofits andindustry allies to build bettercommunities.Visitors entering the main lobby of “through collaboration with Clockwise from top: Art aficionados exploreAimco’s Park Towne Place Museum local partners, philadelphia is the nuances of Circadian rhythm, one ofDistrict Residences are surrounded by leveraging state and local funds four rotational art exhibits featured at parkcurated art exhibitions which connect to improve our transportation towne in 2017.the community to its unique location infrastructure and encourage in partnership with the Association foralong the Benjamin Franklin Parkway, economic development…i am public Art, park towne hosted the VipPhiladelphia’s home for world-class proud that these projects reception for the world premiere of fireflies,museums and cultural institutions. represent these priorities.” an interactive public art installation createdResidents enjoy Park Towne’s by internationally-renowned artist Cai guo-permanent collection of more than —philadelphia mayor Jim Kenney Quiang.100 works featuring local and A crowd of residents, neighbors, and cityinternationally known artists, attend officials celebrates the official dedication ofopenings and artist talks for rotational parkway daydreams, a 125-foot mural atart exhibits, and engage in hands-on park towne commissioned as part of theworkshops conducted by professional 100th anniversary celebration of theartists in an onsite art studio. benjamin franklin parkway.Park Towne has fostered collaboration design and construct a three-acre parkwith key partners in the Philadelphia adjacent to Park Towne. The park willarts community including the be within walking distance of 70,000Association for Public Art, Philadelphia city residents and part of the City'sMural Arts, the Parkway Council “More Park Less Way” initiative. InFoundation, Design Philadelphia andInliquid. The art program at ParkTowne has attracted hundreds of localcommunity members, creating deeperconnections with the city and enhancingthe community’s reputation as a vibrantplace to live.improViNg A pHilAdelpHiA pArKWorking with city officials, theAssociation of Public Art, and landscapearchitects, Aimco helped secure morethan $1 million in funding to the city toPAGE 13

2017, Philadelphia Mayor Jim Kenney Above: City officials, community leaders, apartments. Residents enjoy resort-styleannounced that the Park Towne/City and the Aimco team commemorate the living and extensive amenities includingpartnership garnered one of only four ribbon cutting of indigo Apartment Homes an 18,000 square foot sundeck with aPhiladelphia grants awarded through in redwood City, CA in January of 2017. saltwater swimming pool, outdoorthe Commonwealth of Pennsylvania's workout space and spa, indoor fitnessMultimodal program. The park will Redwood City, approximately 25 center, yoga and spin studio, and anprovide connections to neighbors and miles southeast of San Francisco, with outdoor theater.the parkway and a new destination for ready access to public transportation,recreation. employment centers, and recreational AdVoCAtiNg souNd publiC poliCy activities. Aimco forges alliances with electediNVestiNg iN tHe reNAissANCe officials and industry leaders across theof redwood City A ten-story luxury community, Indigo country to address housing policy andCity officials, Chamber of Commerce features 463 well-appointed apartment improve communities. Aimco is aleaders and neighbors welcomed homes and 44 upscale penthouse level thought leader on issues impacting theAimco’s $320 million acquisition of apartment industry throughIndigo Apartment Homes in Redwood participation in the National AssociationCity, CA. Community supporters and of Real Estate Investment Trusts, thelocal partners joined the Aimco team for National Multifamily Housing Council,the grand opening of Indigo, which the National Leased Housingrepresented an expansion of Aimco Association, and the Real Estateinvestment in the Bay Area. Indigo Roundtable. Aimco also has a seat onenjoys its location close to downtown the boards of influential business and civic organizations such as the Parkway Council in Philadelphia and the Los Angeles Business Council, working to preserve housing and invigorate neighborhoods. “we appreciate Aimco’s investment in redwood City and we welcome indigo to this thriving neighborhood. our City continues to experience a renaissance and Aimco is playing a part in enhancing its economic vitality.” – redwood City Councilmember Janet borgensright: Aimco team members in southernCalifornia presented the 2017 AimcoHousing impact Award to los AngelesCounty board of supervisors Chairman markridley-thomas and City Council presidentHerb wesson (pictured). the two werehonored for their work in passing twomeasures to provide billions of dollars tocombat homelessness. PAGE 14

ENVIRONMENTAL STEWARDSHIP Aimco’s business model is sustainable by design. We acquire well-located properties in thriving markets and transform them through redevelopment. Many Aimco communities are models of historic preservation, officially designated as national and state historic treasures. Aimco has a strong commitment to be an outstanding apartment management company and an ACCOUNTABLE steward of the environment.PAGE 15

EnvirOnMEntAl StEWArDSHipCOMMITTING TO CONSERVATION (2008-2017)Aimco’s cumulative energy savings since 2008 include: 386 796,223,615 8,840,044 Gallons of Water Saved Therms of Natural Gas SavedTotal Projects Completed189,866,952 157,697 Aimco has equipped 80% of Kwh of Electricity Saved Metric Tons of Greenhouse its same store community Gases Eliminated common areas with energy- efficient LED lighting.re-purposiNg reAl estAte, $4.5M • An urban landfill, high-density designrespeCtiNg tHe lANd • Diversion of construction andWith an emphasis on redeveloping 2017 investment inreal estate assets, Aimco makes full use energy Conservation demolition wasteof existing infrastructure, minimizes projectstraffic impacts, and preserves • Location within one-half mile walk orGreenfields. In the last five years, has resulted in the significant reductionAimco has redeveloped 3,767 of greenhouse gases, and water and bike ride of services and amenities andapartment homes, saving an estimated electricity usage. In 2017, Aimco in close proximity to public54 acres of Greenfields that otherwise reduced greenhouse gases by 6,288 transportationwould have been disturbed to enable metric tons.the new construction of the same • Landscape practices including the usenumber of units. goiNg greeN iN redwood City Indigo Apartment Homes in Redwood of native, low maintenance plants andiNVestiNg iN CoNserVAtioN City, CA combines luxury with a Smart, weather-based irrigationAimco’s energy conservation, environmentally responsible apartment control systemconstruction services, and living. In addition to its outstandingredevelopment teams work to ensure location, upscale amenities and • Installation of energy efficientthat redevelopment projects and beautiful interiors, Indigo is a certifiedproperty upgrades achieve planned GreenPoint-rated community. plumbing fixtures and lightingefficiencies and minimize adverse throughout the communityenvironmental impacts. The team has GreenPoint, part of California’s Buildimplemented nearly 400 energy It Green initiative to promote healthy • High performing HVAC systemconservation projects since 2008, and energy smart homes, evaluates the • Energy Star Appliances in everyincluding 77 in 2017. environmental efficacy of multifamily communities in the categories of design apartment homeIntroducing more efficient HVAC and planning, landscaping, plumbing,systems, controlled irrigation systems, HVAC, and electrical system efficiencies. AN eCo-frieNdly bluepriNtand an extensive LED lighting program iN boulder Indigo earned high marks in multiple To meet the increasing need foropposite: the penthouses at indigo areas including: housing in Boulder, CO close to majorApartment Homes in redwood City, CA employers, open space recreationalrepresent Aimco’s long term investment in areas, and the city’s attractions andhigh quality, environmentally conscious services, Aimco is building a newfinishes including plank flooring, granite community, Parc Mosaic, on the sitecountertops and led light fixtures. of its former Eastpointe Apartments. Named to denote multiple parks converging to create an attractive, serene community, Parc Mosaic will reflect its green nature through PAGE 16

EnvirOnMEntAl StEWArDSHipthoughtful consideration of its Above: A rendering of parc mosaic in preserViNg tHe pAst, plANNiNgenvironmental footprint, including: boulder, Co. for tHe future Aimco honors the heritage of its• Reducing water usage by 60% by gain and reduce the energy necessary historic properties by preserving their to cool the building. distinctive architectural features utilizing drought resistant plants, soil while also outfitting them with the amendments and controlled irrigation. • Minimizing its carbon footprint during modern conveniences today’s residents expect. The rehabilitation of these• Preserving mature trees to help filter construction by transporting materials communities promotes optimal use of no more than 500 miles from the site existing infrastructure, repurposes pollutants, reduce storm water runoff and using local suppliers whenever original materials, and introduces and provide natural cooling. New possible. more efficient building operating trees will be strategically placed to systems – a truly sustainable approach shade hardscapes and reduce the • Using renewable products and wood to meeting housing needs while localized heat island effect. investing in history. sourced from responsibly managed• Placing trellis and deep eaves on forests as certified by the Forest Stewardship Council. the exterior facades to minimize heatPAGE 17

$172M2017 investment inredevelopment anddevelopmentrewArdiNg good worKsAimco was among an elite groupof award winners honored by thePreservation Alliance for GreaterPhiladelphia for preserving part of thecity’s history. Aimco earned a GrandJury Award for its rehabilitation ofPark Towne Place Museum DistrictResidences, the first mid-centurymodern multifamily community in theCommonwealth of Pennsylvania tobe listed on the National Register ofHistoric Places.Above: residents of saybrook pointeApartments in san Jose, CA enjoy thecommunity’s $18.3 million redevelopmentwhich features a solar heated pool, family-friendly outdoor game area, fire pit lounges,and a contemporary fitness center.right: Aimco’s philadelphia team acceptsthe preservation Alliance grand Jury Awardfor the rehabilitation of park towne. PAGE 18

CORPORATE GOVERNANCE Led by a Board of Directors dedicated to good governance, Aimco conducts businesswith the highest level of ethics, accountability, transparency, and integrity. Aimco and itsDirectors are committed to creating long-term VALUE for stockholders and demonstrating leadership in environmental, social and governance matters.stroNg leAdersHip majority vote, Aimco remains Above: Aimco’s board of directors leadsThe Aimco Board of Directors is focused on a carefully constructed by example, joining an Aimco Carescomposed of experienced, insightful, and high performing board. In 2017, team to assemble care packages for disabledengaged, and collaborative professionals the Women’s Forum of New York veterans living at the Colorado statewho bring a wealth of knowledge and recognized Aimco as a corporate Veterans Home.business acumen to Aimco. They take champion among S&P 500 andan active role in setting the direction for Fortune 1000 companies for having In 2017, Aimco senior leaders engagedthe company and guiding its success. more than 25 percent of its board with stockholders holding approximatelyThe Directors review and assist Aimco’s positions held by women. two-thirds of its outstanding shares toprogress in five areas of strategic focus: discuss executive compensation,operations; redevelopment; portfolio stoCKHolder eNgAgemeNt governance, disclosure, boardmanagement; balance sheet; and team Aimco seeks opportunities to meet with composition, and other matters ofand culture. stockholders throughout the year to importance. These interactions enable gain their perspectives on issues of the Aimco to be responsive to the issuesHoNored for boArd CompositioN company’s strategy and governance. that matter most to our stockholders.With Directors elected annually by aPAGE 19

COrpOrAtE gOvErnAnCEAimco Board of DirectorsTerry Considine – Founder, Chairman of the Board and CEO, AimcoThomas L. Keltner – Chairman, Compensation and Human Resources Committee; Served as Executive Vice Presidentand CEO, Americas and Global Brands, Hilton Hotels CorporationJ. Landis Martin – Lead Independent Director; Founder and Managing Director, Platte River Equity, LLC; Served asCEO of four NYSE companiesRobert A. Miller – Chairman, Redevelopment and Construction Committee; Served as Executive Vice President and ChiefOperating Officer, International of Marriott Vacations Worldwide Corporation; Co-Founder and President of AmericanResorts, which was sold to Marriott International, Inc. to form its timeshare division and now spun off as a NYSE-listedcompany. Mr. Miller is also a director of Welk Hospitality Group, Inc.Kathleen M. Nelson – Chairman, Nominating and Corporate Governance Committee; Founder and President, KMNAssociates, LLC and Co-Founder and Managing Principal of Bay Hallow Associates, LLC; Served as managingdirector/group leader and chief administrative officer for TIAA-CREF’s mortgage and real estate divisionAnn Sperling – New Director Nominee; Senior Director, Trammell Crow Company, and previously served as ChiefOperating Officer, Americas and President, Markets West of Jones Lang LaSalleMichael A. Stein – Chairman, Audit Committee; Served as CFO of ICOS Corporation, Nordstrom, Inc. and MarriottInternational, Inc.; Serves on the board of InvenTrust Properties Corp., an open-air shopping center REITNina A. Tran – CFO of Veritas Investments Inc., and previously served as CFO of Starwood Waypoint Residential Trustand as Chief Global Process Officer and Chief Accounting Officer of AMB Property Corporation/Prologis, Inc.SUPERIOR LONG-TERM RETURNS FOR SHAREHOLDERS5-YEAR TOTAL SHAREHOLDER RETURN TOTAL SHAREHOLDER RETURN SINCE IPO (2012-2017) (JULY 1994-DECEMBER 2017)13.7% 11.6% Aimco Aimco 10.2% 9.3% 10.3% 10.0% NAREIT MSCI MSCI US REIT Apartment US REIT S&P 500 Index Index Index PAGE 20

2017 ENVIRONMENTAL, SOCIAL AND GOVERNANCE HIGHLIGHTSAs one of the largest owners and operators of apartment homes nationwide, Aimco embraces the enormous opportunityand duty to be a leader in environmental stewardship, social responsibility and corporate governance for the greater benefitof communities.ENVIRONMENTAL stroNg iNVestmeNt CommitmeNt to CoNserVAtioN $4.5M 77 Invested in energy New conservation conservation projects implementedSOCIAL eNgAged teAm buildiNg CommuNity Customer sAtisfACtioN4.25OutOf 5 5th consecutive 5,964 150 Record customer satisfaction Top Workplace Aimco Cares Unique score based on approximately volunteer hours nonprofits served 84,000 resident surveys in Colorado designationGOVERNANCE stoCKHolder outreACH boArd CompositioN 2/3Recognized by the Women’s Forum of New York for Stockholders engagedhaving at least 25% of board seats held by women regularly on ESG mattersPAGE 21



APARTMENT INVESTMENT AND MANAGEMENT COMPANY 4582 S. ULSTER STREET, SUITE 1100 • DENVER, CO 80237 WWW.AIMCO.COM PRINTED ON RECYCLED PAPER