Mid-America Apartment Communities, Inc. Shareholders’ Equity

Preferred
Stock

Common
Stock

Additional
Paid-In
Capital

Accumulated
Distributions
in Excess of
Net Income

Accumulated
Other
Comprehensive
Loss

Noncontrolling
Interests -
Operating
Partnership

Noncontrolling
Interests -
Consolidated
Real Estate
Entities

Total
Equity

 EQUITY BALANCE DECEMBER 31, 2025

$

9

$

1,166

$

7,401,962

$

(1,734,986

)

$

(5,300

)

$

141,503

$

14,889

$

5,819,243

Net income (loss)

—

—

—

124,359

—

3,121

(869

)

126,611

Other comprehensive income - derivative
    instruments

—

—

—

—

372

9

—

381

Issuance and registration of common shares

—

1

153

—

—

—

—

154

Shares repurchased and retired

—

(6

)

(73,633

)

—

—

—

—

(73,639

)

Shares issued in exchange for common units

—

—

457

—

—

(457

)

—

—

Redeemable stock fair market value
    adjustment

—

—

—

2,488

—

—

—

2,488

Adjustment for noncontrolling interests in
   Operating Partnership

—

—

1,148

—

—

(1,148

)

—

—

Amortization of unearned compensation

—

—

6,259

—

—

—

—

6,259

Dividends on preferred stock

—

—

—

(922

)

—

—

—

(922

)

Dividends on common stock ($1.530 per
    share)

—

—

—

(178,050

)

—

—

—

(178,050

)

Distributions on noncontrolling interests units
   ($1.530 per unit)

—

—

—

—

(4,491

)

—

(4,491

)

Acquisition of noncontrolling interest

—

—

(4,839

)

—

—

—

(5,374

)

(10,213

)

Contribution from noncontrolling interest

—

—

—

—

—

—

2,489

2,489

 EQUITY BALANCE MARCH 31, 2026

$

9

$

1,161

$

7,331,507

$

(1,787,111

)

$

(4,928

)

$

138,537

$

11,135

$

5,690,310

Mid-America Apartment Communities, Inc. Shareholders’ Equity

Preferred
Stock

Common
Stock

Additional
Paid-In
Capital

Accumulated
Distributions
in Excess of
Net Income

Accumulated
Other
Comprehensive
Loss

Noncontrolling
Interests -
Operating
Partnership

Noncontrolling
Interests -
Consolidated
Real Estate
Entities

Total
Equity

 EQUITY BALANCE DECEMBER 31, 2024

$

9

$

1,166

$

7,417,453

$

(1,469,557

)

$

(6,940

)

$

155,409

$

27,894

$

6,125,434

Net income

—

—

—

181,673

—

4,733

—

186,406

Other comprehensive income - derivative
    instruments

—

—

—

—

418

11

—

429

Issuance and registration of common shares

—

—

157

—

—

—

—

157

Shares repurchased and retired

—

—

(1,302

)

—

—

—

—

(1,302

)

Exercise of stock options

—

38

—

—

—

—

38

Shares issued in exchange for common units

—

—

759

—

—

(759

)

—

—

Redeemable stock fair market value
    adjustment

—

—

—

(1,895

)

—

—

—

(1,895

)

Adjustment for noncontrolling interests in
   Operating Partnership

—

—

(53

)

—

—

53

—

—

Amortization of unearned compensation

—

—

5,861

—

—

—

—

5,861

Dividends on preferred stock

—

—

—

(922

)

—

—

—

(922

)

Dividends on common stock ($1.515 per
    share)

—

—

—

(177,157

)

—

—

—

(177,157

)

Distributions on noncontrolling interests units
   ($1.515 per unit)

—

—

—

—

—

(4,637

)

—

(4,637

)

Contribution from noncontrolling interest

—

—

—

—

—

—

1,058

1,058

 EQUITY BALANCE MARCH 31, 2025

$

9

$

1,166

$

7,422,913

$

(1,467,858

)

$

(6,522

)

$

154,810

$

28,952

$

6,133,470