VIVMARK RESIDENTIAL (VMRK) Merger Transaction Summary

This filing details a merger of equals between VIVMARK RESIDENTIAL (VMRK) and AvalonBay Communities, Inc. (AVB) effective August 17, 2026. As part of the transaction, AVB merged with and into Canopy Merger Sub LLC, a subsidiary of VMRK, with Canopy Merger Sub LLC surviving as a wholly owned subsidiary of VMRK. Subsequently, Canopy Merger Sub LLC merged with and into ERP Operating Limited Partnership. Reporting Person Alaine Susan Walsh, EVP of Human Capital & Admin, had her shares of AVB Common Stock converted into VMRK Common Shares at an exchange ratio of 2.793. Her outstanding options to acquire AVB Common Stock were also converted into options to acquire VMRK Common Shares. Following the merger, the Reporting Person holds 26,335 shares of VMRK Common Shares and options to acquire 6,826 VMRK Common Shares.