This privacy policy (“Privacy Policy”) of Apartment Income REIT Corp. (collectively, with its subsidiaries and affiliates, “AIR Communities,” “we,” or “us”) describes the privacy practices for AIR Communities in connection with information we collect from you online through AIR Communities’s website located at www.AIRCommunities.com and through our other online activities, including, without limitation, the AIR Communities Online Leasing web application (collectively, the “Site”). The purpose of this Privacy Policy is to inform you about the types of information we gather about you, including information gathered when you visit the Site, and information we may receive from third parties or affiliates in addition to that online information, how we may use that information, whether we disclose that information to anyone, and the choices you have regarding our use of, and your ability to correct, the information. AIR Communities strives to help visitors of the Site protect their privacy while using the Site. By using the Site, you expressly consent to the use and disclosure of information as described in this Privacy Policy. We may collect information in several ways by your use of the Site, as well as from forms you submit to us (such as our “Request a Call” form), personal correspondence, such as emails or letters that you send to us, or any other activity through which you identify yourself. We may ask you to voluntarily provide us with personal information on the Site, for example, by creating an account to pay rent or submit a service request via the Site, by submitting a rental application to a property online or by creating a profile in the Career Opportunities area of the Site. In addition, when you log onto the Site, our servers may log your IP address, the URL of your request and other information that is provided in the HTTP header. Also, our third-party service providers may ask you voluntarily to provide personal information on their websites and may share such personal information with us, as governed by their respective privacy policies. Our use of information received from a service provider will be dictated by the service provider’s privacy policies and not this Privacy Policy. We collect two types of information: personally identifiable information and non-personally identifiable information. Personally identifiable information is information that identifies you or can be used to identify or contact you (“Personally Identifiable Information”). We also may collect information that by itself typically cannot be used to identify or contact you, such as demographic information (such as age, profession or gender), user IP addresses, browser types, domain names, and other anonymous statistical data involving the use of our Site (“Non-Personally Identifiable Information”). Personally Identifiable Information we collect may include your name, email addresses, postal addresses, ZIP code, telephone number, date of birth, marital status, gender, age, user name and password, and other information either desirable or necessary to provide services to our customers and visitors. If you sign up for certain services, complete a rental application, complete an employment application, or choose to pay your rent or submit a service request through the Site, then we may collect financial information (such as credit card information, bank account number and routing information, current employment information--including salary, employer, and job title, information about your current financial obligations, other sources of income, and credit history); information regarding your desired employment with AIR Communities (such as desired employment position, start date, salary and location, employment, educational and criminal history); information about other permanent residents of an apartment you seek to rent from AIR Communities--including their social security number and date of birth; additional personal information to allow us to perform a background check or otherwise assess your eligibility to rent an apartment at an AIR Communities property (such as your social security number, your driver’s license number, your passport number, whether you smoke cigarettes, prior addresses and rent paid at prior residences, your history of loan default, and your criminal history); and/or information required of residents of AIR Communities properties (including information regarding an emergency contact for you--including the name, address, phone number and email address of a relative or other emergency contact, information about your pets and information about your vehicle). We may also collect information about you such as your use of the Site and communication preferences. To the extent we are able to do so, we may link your Non-Personally Identifiable Information with your Personally Identifiable Information. We may also link information collected online with information we collect offline or information collected online by third parties. Like many other websites, AIR Communities may use cookies to customize content specific to your interests and track your use of the Site. “Cookies” are text files that are placed on your computer and may be used to store your personal information. In addition to cookies, AIR Communities may use other now known or later developed technologies, to assist AIR Communities in observing the behavior of users visiting the Site. These technologies access individual user information but the information is used only to compile aggregated statistics about the Site’s usage. The Site also uses Google Analytics (and in the future may use other similar sites or services), a web analytics service provided by Google, Inc. (“Google”), to better assist AIR Communities in understanding how the Site is used. Google Analytics will place cookies on your computer that will generate information that we select about your use of the Site, including your computer’s IP address. That information will be transmitted to and stored by Google. The information will be used for the purpose of evaluating consumer use of the Site, compiling reports on Site activity for AIR Communities’s use, and providing other services relating to Site activity and usage. Google may also transfer this information to third parties where required to do so by law, or where such third parties process the information on Google’s behalf. You may refuse the use of cookies by selecting the appropriate settings on your browser. Please note that by doing so, you may not be able to use the full functionality of the Site. The use of cookies by Google Analytics is covered by Google’s privacy policy. AIR Communities may from time to time use the information collected from you to provide services which you have requested from us; including, without limitation, transmitting your rental application to the property of interest, or allowing you to pay your rent or submit a service request online. We may also use your information to process payments or perform a tenant screening in the event that you apply for residency at one of the properties advertised on the Site or elect to pay your rent through the Site. We may also use your personal information to send you targeted messages, publications, news, and information about events, special offers, promotions and benefits. AIR Communities may use third-party service providers to send and distribute e-mail and to perform other marketing and support functions. We may use information we collect from you to improve the content of the Site, to enhance users’ experiences when visiting the Site, and to customize the content and layout of the Site for each individual user. Text Messaging. AIR Communities provides you with the ability to receive information, updates, reminders, and other messages via text message (“Text Message Communications”). Once you have opted-in to Text Message Communications by sending a text to the number provided by AIR Communities, we will collect, and process personal information that you voluntarily provided to us including your mobile phone number, the content of a message, and other data necessary to provide Text Message Communications to you and improve our services. We may also commingle such information with other information we have collected or that you have provided to us. Our computers may process the information in your messages for various purposes, including formatting and displaying the information to you, preventing unsolicited bulk messages (spam), backing up messages, and other purposes relating to offering you Text Message Communications. We may send you information related to Text Message Communications or our other services. Except as set forth in this Privacy Policy or as specifically agreed to by you, we will not disclose any information we gather from you on our Site. We may share your personal information with our affiliates and with the owners and managers of the properties listed on the Site. We may share your information with other select third parties who offer goods or services we think may be of interest to you. From time to time, we may partner with other organizations or companies to provide co-sponsored or co-branded promotions, services or events and may share your personal information with our co-sponsor. We also may provide your personal information to service providers or contractors to perform functions on our behalf, such as, but not limited to, companies or individuals hired to: communicate news, deliver AIR Communities’s promotional materials via e-mail and direct mail, to develop, enhance, market or provide any of AIR Communities’s products, to process credit card payments or perform tenant screening, and to assist AIR Communities with sending communications (in the case of Text Message Communications, including, without limitation, to carriers, SMS gateway providers, and other text messaging providers) and performing other marketing and support functions. We also may share your personal information with third-party service providers such as utility, cable, telecommunications, security and banking companies if you request such services through the Site, through AIR Communities or as part of any unified billing program at your property. Finally, AIR Communities may use third-party social media platforms, including third-party social media websites, to communicate with you. We also may share with third parties aggregated demographic and statistical information that is not personally identifiable. AIR Communities also may disclose an individual’s personal information: • to a person who in the reasonable judgment of AIR Communities is seeking the information as an agent of the individual; • in situations where sharing or disclosing your information is required in order to offer you products or services you desire or request; • to a third party or parties, where disclosure is required or permitted by law; • if, in the reasonable judgment of AIR Communities, it is necessary enforce compliance with our internal policies, a lease, an application for residency or the Terms of Use, in a lawful attempt to collect a debt owned by you, or to protect our Site, customers, or others; and • to any other entity that acquires all or a portion of our organization by merger, reorganization, operation of law, or a sale of some or all of AIR Communities’s assets. AIR Communities may be required to use or disclose your information in connection with a legal action or other proceeding, including without limitation, in response to a court order or a subpoena. We also may disclose such information in response to a law enforcement agency’s request. Through the Site, AIR Communities may make available areas that allow for user interaction, including blogs, forums, bulletin board services, chat areas or other message and communications features or allow you to connect to AIR Communities’s presence on third party websites or services such as Facebook and Twitter (“Interactive Areas”). Some of these forums may require registration. Please remember that any information that is disclosed in these areas becomes public information, and you should exercise caution when deciding to disclose your personal information. AIR Communities does not knowingly solicit or collect personal information on the Site from children under the age of 13 without prior verifiable parental consent. If AIR Communities learns that, despite these measures, a child under the age of 13 has submitted personally identifiable information to AIR Communities through the Site, it will take reasonable measures to delete such information from its records and to not use such information for any purpose (except where necessary to protect the safety of the child or others as required by law). AIR Communities is committed to protecting the security of any personal information you provide to us. We maintain commercially reasonable safeguards to maintain the security and privacy of personal information that you provide to us. In spite of these protections, AIR Communities cannot guarantee the security of any data submitted over the Internet. After your information reaches AIR Communities, however, it is stored on servers (or in the case of information received from you in person, in writing or over the phone, in physical storage areas) protected by procedures and technology designed to block reasonably foreseeable intrusions by unauthorized third parties. After you have submitted your information online to AIR Communities, we recommend that you end your browser session before leaving your computer. This Privacy Policy applies solely to information collected by AIR Communities. This Privacy Policy does not apply to other websites that are accessible through the Site, including but not limited to any third-party websites that process payments or perform tenant screenings on behalf of AIR Communities. Please be aware that third-party websites that process payments or conduct tenant screenings for AIR Communities and websites for our advertisers, sponsors, affiliated entities and other third parties that are accessible through the Site may have their own privacy and data collection policies and practices. AIR Communities is not responsible for the privacy practices of such sites and will not be responsible for any actions or policies of such third parties. We encourage our users to be aware when they leave the Site and to read the privacy statements of each and every website that you visit. In some instances, where you have applied for employment with AIR Communities or have applied for residency at one of the apartments listed on our site, we will provide your information to a screening company in order to obtain a screening report for the property manager or owner. Under the Fair Credit Reporting Act (15 U.S.C. 1681 et seq.), you may have the right to access, view and correct credit information relating to you held by a credit bureau by contacting the credit bureau. AIR Communities may amend this Privacy Policy from time to time. Should this Privacy Policy be amended in any way, changes will be posted to this webpage. As we may make changes from time to time without notifying you, we suggest that you periodically consult this Privacy Policy. Your continued use of the Site after the effective date of any modification to the Privacy Policy will be deemed to be your agreement to the changed terms. Last Updated: 09/10/2018

Apartment Income REIT Corp. 4582 S. Ulster St Suite 1700 Denver, CO 80237