ERP Operating Partnership Assumes AvalonBay's Financial Obligations Post-Merger

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and Canopy Merger Sub LLC, assuming all obligations under AvalonBay's indentures and credit facilities. This includes the assumption of $2.5 billion in revolving credit and $550 million in term loan facilities. The mergers also involved the execution of several supplemental indentures to reflect the new corporate structure.

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About Equity Residential

Equity Residential is a real estate investment trust that focuses on the acquisition, development, and management of high-quality rental apartment properties in the United States. The company primarily concentrates its portfolio in dense urban and close-in suburban markets with strong employment and housing demand, including Southern California, San Francisco, Washington, D.C., New York City, Boston, Seattle, Denver, Atlanta, Dallas/Fort Worth, and Austin. Equity Residential generates income mainly through leasing apartment units to residents, complemented by related fees and services associated with its communities. Its properties typically target higher-end, professionally managed rental housing, serving working professionals, families, and urban households. Headquartered in Chicago, Illinois, and founded in 1969, Equity Residential is considered one of the larger owners and operators in the U.S. multifamily residential market, providing investors with exposure to the apartment sector through a diversified, institutionally managed portfolio of rental communities across multiple major metropolitan areas.