Apartment Investment and Management Company announced that its Board of Directors has named R. Dary Stone as Chairman of the Board, effective February 1, 2023. Mr. Stone was appointed to the Aimco Board in December 2020 and has served in other Board leadership roles at Aimco including Chairman of the Nominating, Environmental, Social, and Governance Committee. He is an accomplished executive who brings investment and finance, real estate, and capital markets experience having served as President of multiple real estate companies, including as President and COO of Cousins Properties.

Mr. Stone also brings governance expertise through his current board service at Cousins Properties, where he is Chairman of the Nominating and Governance Committee, and Tolleson Wealth Management and Tolleson Private Bank, as well as prior board positions at Parkway Properties, Baylor University and the Texas Banking Commission. Aimco also announced several Board leadership and committee changes, effective February 1, 2023, as part of its commitment to strong governance: Quincy L. Allen, who joined the Aimco Board in December 2020, has been named as Chairman of the Nominating, Environmental, Social, and Governance Committee, succeeding Mr. Stone. Mr. Allen will facilitate the execution of the governance enhancements that the Company committed to in November 2022.

Patricia L. Gibson, who joined the Aimco Board in December 2020, has been named Chairwoman of the Investment Committee. Ms. Gibson brings expertise in the areas of real estate finance, investment, and asset management, and will oversee the Board's ongoing efforts to actively consider all opportunities available to further enhance and unlock stockholder value. James P. Sullivan, who was appointed to the Board in December 2022, has been appointed as a member of each of the Board's standing committees – Audit, Compensation and Human Resources, Nominating, Environmental, Social, and Governance, and Investment.

Due to reduced transaction activity with Apartment Income REIT Corp. (AIR), the responsibilities of the Aimco-AIR Transactions Committee are now under the purview of the Investment Committee.