Business Wire | Jan 15, 2021 09:12PM EST

Apartment Investment and Management Company Announces 2020 Dividend Income Tax Allocation

Jan. 16, 2021

DENVER--(BUSINESS WIRE)--Jan. 16, 2021--Apartment Investment and Management Company ("Aimco") (NYSE: AIV) announced today the 2020 dividend allocation for federal income tax purposes for its Class A Common Stock. Aimco's tax return for the year ended December 31, 2020 has not yet been filed. As a result, the income tax character for the distributions shown below has been calculated using the best available information as of the date of this release. Please note that federal tax laws affect taxpayers differently, and the information in this release is not intended as advice to shareholders as to how dividends should be reported on their tax returns. Also note that state and local taxation of real estate investment trust dividends varies and may not be the same as the taxation under federal rules. Aimco encourages shareholders to consult with their own tax advisors with respect to federal, state and local income tax effects of these distributions.

Class A Common Stock (CUSIP 03748R-75-4 and CUSIP 03748R-74-7)

Taxable Qualified Capital UnrecapturedRecord Payable Distribution Ordinary Dividends Gain Sec. 1250 Return ofDate Date per Share Dividends^ (20% (20% Rate) Gain Capital 1 Rate) ^3 (25% Rate)^3

2/14/ 2/28/20 $0.41 4.92112% 5.74466% 81.53456% 7.79966% 0.00000%20

5/15/ 5/29/20 $0.41 9.94375% 1.89660% 60.41631% 27.74334% 0.00000%20

8/14/ 8/28/20 $0.41 9.94375% 1.89660% 60.41631% 27.74334% 0.00000%20

11/4/ 11/30/ $8.20 9.94375% 1.89660% 60.41631% 27.74334% 0.00000%20 20

12/5/ 12/15/ $38.0711^2 5.90018% 1.12536% 35.84837% 16.46167% 40.66442%20 20

Annual $47.5011 6.65957% 1.31168% 40.90792% 18.52919% 32.59164%

1 The 2020 Taxable Ordinary Dividends are treated as "qualified REIT dividends" for purposes of Internal Revenue Code section 199A.

2 This distribution of 1 share of Class A Common Stock of Apartment Income REIT Corp. (NYSE:AIRC) for each share of Class A Common Stock of Aimco owned is being valued at $38.0711 per share. This value is the volume weighted average trading price of Apartment Income REIT Corp. on December 15, 2020 and is not binding on the U.S. Internal Revenue Service or any other tax authority.

3 Aimco is disclosing two additional amounts related to the capital gain dividends for purposes of Internal Revenue Code section 1061, which is generally applicable to direct and indirect holders of "applicable partnership interests."

^1 The 2020 Taxable Ordinary Dividends are treated as "qualified REITdividends" for purposes of Internal Revenue Code section 199A.

^2 This distribution of 1 share of Class A Common Stock of Apartment IncomeREIT Corp. (NYSE:AIRC) for each share of Class A Common Stock of Aimco owned isbeing valued at $38.0711 per share. This value is the volume weighted averagetrading price of Apartment Income REIT Corp. on December 15, 2020 and is notbinding on the U.S. Internal Revenue Service or any other tax authority.

^3 Aimco is disclosing two additional amounts related to the capital gaindividends for purposes of Internal Revenue Code section 1061, which isgenerally applicable to direct and indirect holders of "applicable partnershipinterests."

Record Date

Payable Date

Form 1099-DIV Box 2a, Total Capital Gain Distr. Per Share

One Year Amounts Disclosure Per Share

Three Year Amounts Disclosure Per Share

2/14/20

2/28/20

$0.3663

$0.0479

$0.0479

5/15/20

5/29/20

$0.3615

$0.0473

$0.0473

8/14/20

8/28/20

$0.3615

$0.0473

$0.0473

11/4/20

11/30/20

$7.2291

$0.9458

$0.9458

12/5/20

12/15/20

$19.9150

$2.6056

$2.6056

Annual

$28.2333

$3.6940

$3.6940

About Aimco

Aimco is a Real Estate Investment Trust focused on property development, redevelopment and various other value-creating investment strategies, targeting the U.S multifamily market. Aimco is traded on the New York Stock Exchange as AIV. For more information about Aimco, please visit our website at www.aimco.com.

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CONTACT: Aimco Tom Marchant, Vice President, Tax Investor Relations: 303-793-4661 investor@aimco.com