Setting up for success in 2025

At AMH , we work to contribute stability through all economic cycles, and be a housing provider that people can rely on when all else is in flux.

In today’s uncertain environment of elections, weather events, and inflationary pressures, AMH remains focused on delivering solutions where it can have the most impact.

We do that in two primary ways that expand people’s access to quality housing, especially amid a national housing shortage:

• We’re currently building new homes to the tune of over 2,200 per year. Since 2017, we’ve built more than 10,000 homes through our in-house development program, consistently adding supply.
• While our acquisitions program has been largely on pause in recent years, we remain vigilant and disciplined as we look for opportunities to purchase select rental properties and portfolios, and invest capital to bring this existing housing stock to higher quality living standards as part of the AMH platform.?

Let’s get concrete ?

?? By the numbers

In Q3, AMH continued to build on our enduring strengths and steadily grow our business.

As of September 30, 2024, the company owned nearly 60,000 single-family rental homes.

We built a total of 753 high-quality and energy-efficient #AMH -built homes through our in-house development program, despite significant weather disruptions in the southeast from Hurricane Helene and Hurricane Milton.

• 640 of these were delivered to our operating portfolio and 113 of these were delivered to unconsolidated joint ventures.
• Our land pipeline of nearly 11,000 lots will continue to fuel stable and predictable new construction for years to come.

We acquired a portfolio of approximately 1,700 rental homes in 13 markets, expanding our scale and ability to offer people high-quality housing options in desirable locations.

• Thanks to our dedicated teams and robust operational infrastructure, we’ll be able to seamlessly integrate these properties into the business, and professionally service them with the same industry-leading service and care that AMH has come to be known for.

Beyond our product offerings, the #AMHteam maintained a relentless focus on providing exceptional service, meeting rental demand, and elevating the experience we create for our residents.

• We achieved a healthy same-home average occupancy of 95.9% in Q3.
• Our customers have rated our services in our major markets with a 4.62 out of 5 Google score in 2024 to date.

?? Celebrating our founder and CEO

Earlier this year, AMH announced that our Chief Executive Officer David Singelyn , who co-founded the company with B. Wayne Hughes in 2012, will be retiring at the end of 2024. During the past ten months, Singelyn’s role has shifted in focus to this transition, rather than daily operational leadership.

Here’s what Singelyn told shareholders today:

“This is a special day for me. Today is my last earnings call before passing the baton to Bryan Smith, the next steward of our great brand. Reflecting on the last 12 years, we accomplished more than I ever imagined.

Together with Wayne Hughes, we seized a once-in-a-lifetime opportunity to pioneer the professionally managed single-family rental landscape. Since then, we’ve changed perceptions of housing in the U.S. and raised the bar on industry standards for service and quality.

To control our own destiny, expand our portfolio through every economic cycle, and do our part in addressing America’s housing shortage, we build new homes in desired locations across our markets.

We invested in our operations. We leveraged technology. We looked around corners. And, most importantly, we focused on people.

We assembled a talented team, including a strong leadership bench, that has worked together for the past decade and is ready to lead this company into the next chapter of its journey.

Today, our 60,000 houses provide thousands of households with access to high-quality homes at a meaningful discount to the current cost of homeownership. Our residents appreciate the convenience, flexibility, and ease of living we provide. Housing is a fundamental American need, and single-family rental homes have emerged as an important part of the American housing landscape and solution.

Building AMH with Wayne, and with your support, is one of my proudest career accomplishments. I leave AMH with gratitude, pride, and fond memories that I will cherish forever. Thank you all for being a part of my journey.”

We’re immensely grateful to Singelyn for leading AMH with strength and vision for more than a decade, and setting us up for even greater success in the next decade. Our business today is in great shape financially, strategically, operationally, and organizationally, consistently outperforming the industry. And we look forward to carrying on this founding legacy of integrity and resilience into the future. Thank you, Dave.

For the earnings release and webcast, please visit investors.amh.com .