Investor Day 2025 November 17, 2025

This presentation contains forward-looking statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “guidance,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties that may impact our financial condition, results of operations, cash flows, business, associates, and residents, including, among others, risks inherent to the single-family rental industry and our business model, macroeconomic factors beyond our control, competition in identifying and acquiring properties, competition in the leasing market for quality residents, increasing property taxes, homeowners’ association (“HOA”) fees and insurance costs, poor resident selection and defaults and non-renewals by our residents, our dependence on third parties for key services, risks related to the evaluation of properties, performance of our information technology systems, development and use of artificial intelligence, risks related to our indebtedness, risks related to the potential negative impact of fluctuating global and United States economic conditions (including inflation and imposition or increase of tariffs and trade restrictions by the United States and foreign countries), uncertainty in financial markets (including as a result of events affecting financial institutions), geopolitical tensions, natural disasters, climate change, and public health crises. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under Part I. Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024 (the “Annual Report”), as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this presentation, in the Annual Report, and in our other periodic filings. The forward-looking statements speak only as of the date of this presentation, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except to the extent otherwise required by law. 1 This presentation contains non-GAAP financial measures and estimates In addition to financial measures prepared in accordance with United States generally accepted accounting principles (“GAAP”), this presentation includes certain non-GAAP financial measures such as EBITDAre, Core FFO, AFFO, NOI, and others. These non-GAAP measures have limitations as analytical tools and you should not consider them in isolation or as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their most directly comparable GAAP equivalents. Other companies, including companies in our industry, may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of these non-GAAP financial measures as tools for comparison. For definitions, additional information, and reconciliations of non-GAAP financial information included in this presentation, see the Appendix to this presentation. You are urged to review the reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures set forth in the Appendix, and not to rely on any single financial measure to evaluate our business. In addition, this presentation includes estimated future AFFO growth levels that are based on current information and assumptions available to us. Arriving at such amounts requires us to make a number of assumptions that may not be true. These estimates reflect long-term targets and do not constitute guidance for any period. There are a number of circumstances in the future that could greatly impact actual results, given circumstances that are not within our control, including the factors set forth under “Forward- Looking Statements.” These targets should not be relied upon when making an investment decision. We do not provide a reconciliation of these targets to the comparable GAAP financial measure, as it cannot be provided without unreasonable effort because we are unable to reasonably predict certain items contained in the GAAP measures, including non- recurring and infrequent items that are not indicative of our ongoing operations. These items are uncertain, depend on various factors, and could have a material impact on our GAAP results for the target period.

2 We Unlock the Power of Home by providing high-quality living solutions and Genuine CARE™, which together offer stability, comfort, and the freedom for residents and communities to thrive.

Today’s Agenda: A Guided Tour Through Our Business Welcome First Q&A Session The Front Porch President & CEO, Dallas Tanner U N L O C K W H A T ’ S N E X T The Living Room President & CEO, Dallas Tanner U N L O C K T H E P O W E R W I T H I N Break Second Q&A Session The Kitchen COO, Tim Lobner U N L O C K T H E R E S I D E N T E X P E R I E N C E The Garage CIO, Scott Eisen U N L O C K E X T E R N A L G R O W T H The Den CIDO, Virginia Suliman U N L O C K T H E F U T U R E O F H O M E The Home Office CFO, Jon Olsen U N L O C K S H A R E H O L D E R V A L U E 3

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Living Room Unlock the Power Within T H E 5

6 Today’s three strategic themes: Innovation, Growth, and Possibility 1 I N N O V A T I O N G R O W T H P O S S I B I L I T Y We’ve built the premier SFR platform, and we’re committed to staying best in class We’re unlocking value through disciplined external growth We’re thinking strategically about tomorrow and exploring long-term opportunities Our three strategic themes Unlock the Power of Home for long-term performance

Three distinct phases of growth since our founding 7 0 20,000 40,000 60,000 80,000 100,000 120,000 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Beyond 1st Asset accumulation 2nd Consolidation 3rd Opening the aperture We’re still in the early days of our third phase of growth Number of Homes Owned / Managed

8 We have a long track record of SFR leadership We’re committed to maintaining SFR leadership to redefine what’s possible P R O C A R E ® M A I N T E N A N C E G E N U I N E C A R E ™ M U L T I C H A N N E L A C Q U I S I T I O N S T R A T E G Y F I R S T S F R S E C U R I T I Z A T I O N F I R S T S F R G S E F I N A N C I N G H O M E B U I L D E R P A R T N E R S H I P S S & P 5 0 0 C O M P A N Y C O N S T R U C T I O N L E N D I N G F I R S T R E S I D E N T M O B I L E A P P N R H C F O U N D I N G M E M B E R

We’ve delivered superior NOI growth since our 2017 IPO 9 +60.7% +50.0% +36.7% +19.4% Invitation Homes AMH National Multifamily Coastal Multifamily Cumulative Same Store NOI Growth (2017-2024) National Multifamily represents simple average of CPT, MAA, and UDR; Coastal Multifamily represents simple average of AVB, EQR, and ESS; data, including non-GAAP measures, is from public filings; there can be no assurance that our basis for computing this non-GAAP measure is comparable with that of other companies, including those mentioned above Our outperformance underscores our strategy and disciplined execution

High-growth locations Percent of 3Q25 revenue Seattle 6% Minn. 1% Denver 4% Dallas 4% Phoenix 9% Atlanta 13% Tampa 11% Southern California 11% Las Vegas 4% South Florida 12% Northern California 5% Carolinas 6% Jax. 2% Orlando 8%Hou. 2% Chicago 2% 10Primarily infill locations in high-growth markets for long-term performance

11 Sector-leading scale & density Pod 1 4,641 Homes Pod 2 4,427 Homes Pod 3 4,847 Homes Pod 4 4,783 Homes Home counts as of 9/30/2025 Scale and density drive cost efficiency, pricing power, and margin expansion A T L A N T A 11

The best awards are earned from our customers 12 Atlanta Resident satisfaction drives renewals, lowers turnover, and strengthens returns 4.09 / 5.0 Cumulative all-time Google / Yelp rating 4.74 / 5.0 Average stars on post- maintenance surveys ~40 MONTHS YTD Same Store avg resident tenure 97.0% YTD Same Store avg occupancy rate >78% YTD Same Store avg renewal rate A W A R D S & A C C O L A D E S R E S I D E N T S A T I S F A C T I O N Figures as of 9/30/2025

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Why now: The case for single-family rental 14Structural demand, improving supply, and fragmentation create opportunity C H E A P E R T O L E A S E T H A N O W N Average monthly savings of ~$900/month vs. ownership in our markets D E M O G R A P H I C S D R I V E L O N G - T E R M D E M A N D Millennials and Gen Z fueling household formation for the next decade F R A G M E N T E D M A R K E T = C O N S O L I D A T I O N O P P O R T U N I T Y ~93% of SFR homes owned by small operators – ripe for professionalization I M P R O V I N G S U P P L Y T R E N D S Nationwide housing shortage New BTR deliveries declining Infill locations remain irreplaceable i s rtage, n li ries declining, and infill locations remain

Millennials & Gen Z fuel long-term demand for single-family rentals 15Over 13k people expected to turn age 35 every day over the next 10 years -3M -2M -1M 0M 1M 2M 3M 4M Age 0–4 Age 5–9 Age 10–14 Age 15–19 Age 20–24 Age 25–29 Age 30–34 Age 35–39 Age 40–44 Age 45–49 Age 50–54 Age 55–59 Age 60–64 Age 65–69 U.S. 10-Year Net Population Change by Age Group (2025-2034) I N V H S W E E T S P O T Average age of new resident: 39 years Source: John Burns Research & Consulting, tabulations of U.S. Census Bureau Population Estimates and the Congressional Budget Office Projections, published September 2025

Net migration trends in our markets remain resilient 16Jobs, quality of life, and affordability remain powerful draws for our markets Source: John Burns Research & Consulting; data as of September 2025

The affordability gap creates a structural demand tailwind for SFR 17 Nationwide Cost of Home Ownership vs. Home Rental Source: John Burns Real Estate Consulting; data as of September 2025 M A I N D R I V E R S O F O W N E R S H I P C O S T I N C R E A S E S : Mortgage rates Maintenance costs Homeowners insurance Property taxes Owning costs ~$900 more per month than leasing on average in our markets

This creates a long runway of opportunity for growth Source: John Burns Research & Consulting, Single-Family Rental Analysis and Forecast, published September 2025 3.30% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% Ownership Own 1,000+ homes Own 100-999 homes Own 10-99 homes Own 1-9 homes 4 6 M I L L I O N R E N T A L H O U S E H O L D S Single- Family: 30% (14M units) Owned: 65% (88M units) Rented: 35% (46M units) 1 3 4 M I L L I O N H O U S E H O L D S Vacant: 9% (14M units) 1 4 8 M I L L I O N H O U S I N G U N I T S “Mom & Pop” Owners 76.8% 1 4 M I L L I O N S F R H O M E S “Mom & Pop” owners dominate SFR; professionals own just 3% Mobile Homes, Boats, Etc.: 4% (2M units) Households: 91% (134M units) Apartments: 66% (31M units) 18

The U.S. remains undersupplied by as many as 2 to 4 million homes Total Housing Permits (Single and Multifamily) as a % of Households in Invitation Homes’ Markets 0.0% 1.0% 2.0% 3.0% 4.0% 1980 1984 1988 1992 1996 2000 2004 2008 2012 2016 2020 2024 Single-Family Multifamily '80-'25 Avg Source: U.S. Census Bureau and John Burns Research & Consulting; data as of June 2025 19Near-term supply pockets exist, but structural undersupply drives long-term demand

New BTR deliveries have peaked and are declining nationwide… 20 0 5,000 10,000 15,000 20,000 25,000 30,000 1Q 17 3Q 17 1Q 18 3Q 18 1Q 19 3Q 19 1Q 20 3Q 20 1Q 21 3Q 21 1Q 22 3Q 22 1Q 23 3Q 23 1Q 24 3Q 24 1Q 25 3Q 25 1Q 26 3Q 26 JBREC Estimated Build-to-Rent Delivery Schedule Single-Level Rowhomes Townhomes Horizontal Apartments (Cottages) Single-Family Detached Mixed TBD Today Down 73% New BTR deliveries are expected to be down 73% off peak next year Sources and Notes: John Burns Research & Consulting and Yardi Matrix; data as of September 2025. The delivery schedule models future deliveries of currently under-construction and planned BTR communities using historical construction timelines and assumed start rates for planned communities. Capital market and macro forecasts could impact the delivery of planned projects. Build-to-rent data includes planned and under-construction communities with at least 25 units, less than 26 years old, and contiguous communities. The data does not quantify the impact of BTR communities flipping mid-stream to for-sale, or the impact of for-sale projects flipping to for-rent. The definition of BTR only includes communities that are exclusively for-rent and have more than 25 units. TBD projects have been entered into the database but require further investigation to determine the precise product mix.

… With steep declines in many key INVH markets 21 Sources and Notes: Same as prior slide Today Peak Phoenix, AZ Tampa, FL Dallas-Fort Worth, TX Orlando, FL Temporary imbalances aside, it’s encouraging to see some supply pressures easing