People Moves: Aimco welcomes Sherry L. Rexroad to new role on the Company's Board of Directors

Press Release (Business Wire) -- Apartment Investment and Management Company (NYSE: AIV) ("Aimco" or the "Company") has announced that it has appointed Sherry L. Rexroad to its Board of Directors, effective immediately. Ms. Rexroad has been appointed to Aimco's Audit, Compensation and Human Resources, Investment, and Nominating, Environmental, Social, and Governance Committees.

"Sherry's significant real estate, finance and corporate governance expertise will make her an impactful addition to our Board"

Ms. Rexroad is a highly regarded executive and former institutional investor with 30 years of experience in REITs and real estate, finance and capital markets. She most recently served as Chief Financial Officer of STORE Capital, a publicly traded net-lease REIT. Prior to that she spent a decade at BlackRock Global Real Asset Securities as Global Head of Business Development as well as Co-Global Chief Investment Officer and Chair of the Investment Committee. Ms. Rexroad also served as a member of BlackRock's Investment Stewardship Advisory Committee and was the first investor to be elected to Nareit's Advisory Board of Governors.

"Sherry's significant real estate, finance and corporate governance expertise will make her an impactful addition to our Board," said R. Dary Stone, Chairman of the Board. "In particular, Sherry's unique perspectives as a REIT CFO and experienced institutional investor, as well as her deep investment stewardship expertise, are highly relevant to the Aimco business and our ongoing review of opportunities to further enhance and unlock shareholder value."

"I am excited to join the Aimco Board," said Ms. Rexroad. "Aimco has a significant opportunity ahead with a strong portfolio of assets and compelling development platform and pipeline. I look forward to working collaboratively with the Board and management team to drive value for shareholders."

Aimco also announced that Robert A. Miller has notified the Company he will not be standing for re-election at the Company's 2023 Annual Meeting and will retire from the Board upon expiration of his term at the conclusion of the 2023 Annual Meeting. Additionally, at the 2023 Annual Meeting, all of the Company's director nominees will stand for re-election to a one-year term, and thereafter, the Board will comprise nine directors.

Mr. Stone continued, "On behalf of the Board, we thank Bob for his contributions and commitment to Aimco and to its shareholders. Aimco and the members of its Board have been honored by their association with Bob and are grateful for his service and expertise."