| Schedule of rental income and NOI for UDRs reportable segments and reconciliation of NOI to Net income/(loss) |
The following table details rental income and NOI for UDR’s reportable segments for the three and nine months ended September 30, 2026 and 2025, and reconciles NOI to Net income/(loss) attributable to UDR, Inc. on the Consolidated Statements of Operations (dollars in thousands): | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 30, (a) | | September 30, (b) | | | 2026 | | 2025 | | 2026 | | 2025 | Reportable apartment home segment lease revenue | | | | | | | | | | | | | Same-Store Communities | | | | | | | | | | | | | West Region | | $ | 127,098 | | $ | 122,427 | | $ | 376,146 | | $ | 363,792 | Northeast Region | | | 83,888 | | | 81,987 | | | 248,894 | | | 242,623 | Mid-Atlantic Region | | | 75,815 | | | 75,879 | | | 227,590 | | | 226,428 | Southeast Region | | | 51,997 | | | 52,738 | | | 147,658 | | | 150,534 | Southwest Region | | | 47,613 | | | 48,260 | | | 140,021 | | | 142,548 | Non-Mature Communities/Other | | | 21,192 | | | 31,653 | | | 83,022 | | | 99,979 | Total segment and consolidated lease revenue | | $ | 407,603 | | $ | 412,944 | | $ | 1,223,331 | | $ | 1,225,904 | | | | | | | | | | | | | | Reportable apartment home segment other revenue | | | | | | | | | | | | | Same-Store Communities | | | | | | | | | | | | | West Region | | $ | 3,441 | | $ | 3,427 | | $ | 9,675 | | $ | 9,805 | Northeast Region | | | 2,696 | | | 2,696 | | | 7,115 | | | 7,289 | Mid-Atlantic Region | | | 4,024 | | | 3,705 | | | 11,227 | | | 10,409 | Southeast Region | | | 3,248 | | | 3,107 | | | 9,158 | | | 8,697 | Southwest Region | | | 2,797 | | | 2,450 | | | 7,633 | | | 6,990 | Non-Mature Communities/Other | | | 772 | | | 965 | | | 2,696 | | | 3,037 | Total segment and consolidated other revenue | | $ | 16,978 | | $ | 16,350 | | $ | 47,504 | | $ | 46,227 | | | | | | | | | | | | | | Total reportable apartment home segment rental income | | | | | | | | | | | | | Same-Store Communities | | | | | | | | | | | | | West Region | | $ | 130,539 | | $ | 125,854 | | $ | 385,821 | | $ | 373,597 | Northeast Region | | | 86,584 | | | 84,683 | | | 256,009 | | | 249,912 | Mid-Atlantic Region | | | 79,839 | | | 79,584 | | | 238,817 | | | 236,837 | Southeast Region | | | 55,245 | | | 55,845 | | | 156,816 | | | 159,231 | Southwest Region | | | 50,410 | | | 50,710 | | | 147,654 | | | 149,538 | Non-Mature Communities/Other | | | 21,964 | | | 32,618 | | | 85,718 | | | 103,016 | Total segment and consolidated rental income | | $ | 424,581 | | $ | 429,294 | | $ | 1,270,835 | | $ | 1,272,131 | | | | | | | | | | | | | | Total reportable apartment home segment direct property rental expenses | | | | | | | | | | | | | Same-Store Communities | | | | | | | | | | | | | Personnel | | $ | 18,911 | | $ | 17,994 | | $ | 56,376 | | $ | 53,987 | Utilities | | | 19,191 | | | 18,201 | | | 56,729 | | | 53,331 | Repair and maintenance | | | 27,032 | | | 26,400 | | | 76,608 | | | 74,382 | Administrative and marketing | | | 10,448 | | | 10,204 | | | 29,686 | | | 28,741 | Real estate taxes | | | 49,210 | | | 48,023 | | | 147,809 | | | 144,517 | Insurance | | | 4,712 | | | 5,318 | | | 14,635 | | | 15,176 | Non-Mature Communities/Other (c) | | | 8,479 | | | 11,019 | | | 29,908 | | | 34,381 | Total segment and consolidated direct property rental expenses | | $ | 137,983 | | $ | 137,159 | | $ | 411,751 | | $ | 404,515 | | | | | | | | | | | | | | Reportable apartment home segment NOI | | | | | | | | | | | | | Same-Store Communities | | | | | | | | | | | | | West Region | | $ | 95,300 | | $ | 91,985 | | $ | 281,693 | | $ | 274,771 | Northeast Region | | | 56,632 | | | 55,251 | | | 165,133 | | | 161,642 | Mid-Atlantic Region | | | 53,251 | | | 53,770 | | | 160,430 | | | 161,370 | Southeast Region | | | 37,075 | | | 38,478 | | | 104,915 | | | 108,395 | Southwest Region | | | 30,855 | | | 31,052 | | | 91,104 | | | 92,803 | Non-Mature Communities/Other | | | 13,485 | | | 21,599 | | | 55,809 | | | 68,635 | Total segment and consolidated NOI | | | 286,598 | | | 292,135 | | | 859,084 | | | 867,616 |
| | | | | | | | | | | | | Reconciling items: | | | | | | | | | | | | | Joint venture management and other fees | | | 3,500 | | | 2,570 | | | 8,494 | | | 7,080 | Property management | | | (13,799) | | | (13,952) | | | (41,302) | | | (41,344) | Other operating expenses | | | (10,039) | | | (6,975) | | | (32,420) | | | (22,787) | Real estate depreciation and amortization | | | (161,569) | | | (165,926) | | | (482,957) | | | (490,511) | General and administrative | | | (20,559) | | | (22,732) | | | (58,637) | | | (62,156) | Casualty-related (charges)/recoveries, net | | | (548) | | | (1,755) | | | (9,350) | | | (8,434) | Other depreciation and amortization | | | (3,479) | | | (7,009) | | | (10,265) | | | (21,463) | Gain/(loss) on sale of real estate owned | | | 190,084 | | | — | | | 383,204 | | | 47,939 | Income/(loss) from unconsolidated entities | | | 1,613 | | | 14,011 | | | 24,580 | | | 23,454 | Interest expense | | | (48,583) | | | (50,569) | | | (144,799) | | | (146,935) | Interest income and other income/(expense), net | | | 8,144 | | | 3,714 | | | 13,174 | | | 13,769 | Tax (provision)/benefit, net | | | (489) | | | (382) | | | (1,373) | | | (798) | Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | | | (14,768) | | | (2,709) | | | (32,438) | | | (10,593) | Net (income)/loss attributable to noncontrolling interests | | | (12) | | | (12) | | | (35) | | | (35) | Net income/(loss) attributable to UDR, Inc. | | $ | 216,094 | | $ | 40,409 | | $ | 474,960 | | $ | 154,802 |
| (a) | Same-Store Community population consisted of 51,824 apartment homes. |
| (b) | Same-Store Community population consisted of 51,409 apartment homes |
| (c) | Non-Mature Communities/Other direct property rental expenses include costs to manage recently acquired, developed and redeveloped communities, and the non-apartment components of mixed-use properties. |
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| Schedule of details of assets of UDR's reportable segments |
The following table details the assets of UDR’s reportable segments as of September 30, 2026 and December 31, 2025 (dollars in thousands): | | | | | | | | | September 30, | | December 31, | | | 2026 | | 2025 | Reportable apartment home segment assets: | | | | | | | Same-Store Communities (a): | | | | | | | West Region | | $ | 4,600,910 | | $ | 4,548,969 | Northeast Region | | | 3,868,684 | | | 3,719,988 | Mid-Atlantic Region | | | 3,242,532 | | | 3,221,715 | Southeast Region | | | 1,699,816 | | | 1,422,969 | Southwest Region | | | 1,825,447 | | | 1,842,746 | Non-Mature Communities/Other | | | 1,391,256 | | | 1,731,498 | Total segment assets | | | 16,628,645 | | | 16,487,885 | Accumulated depreciation | | | (7,545,322) | | | (7,374,546) | Total segment assets — net book value | | | 9,083,323 | | | 9,113,339 | Reconciling items: | | | | | | | Cash and cash equivalents | | | 1,184 | | | 1,222 | Restricted cash | | | 35,778 | | | 35,710 | Notes receivable, net | | | 90,480 | | | 149,979 | Investment in and advances to unconsolidated joint ventures, net | | | 659,105 | | | 886,492 | Operating lease right-of-use assets | | | 184,642 | | | 187,624 | Other assets | | | 246,704 | | | 231,308 | Total consolidated assets | | $ | 10,301,216 | | $ | 10,605,674 |
| (a) | Same-Store Community population consisted of 51,824 apartment homes. |
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