M&A Adjustment: AvalonBay Communities, Inc. (AVB)

Tilt Indices LLC announces a merger/acquisition adjustment affecting the index, effective 2026-08-17. Equity Residential (EQR) is acquiring AvalonBay Communities, Inc. (AVB) — each share of AVB will be converted into 2.973 shares of EQR. As a result, AVB will be removed and its weight will be absorbed by EQR. The merger is expected to close on Monday, August 17, 2026, subject to the satisfaction or waiver of customary closing conditions. Following the completion of the merger, the combined company will be renamed “Vivmark Residential,” with its common shares expected to trade on the New York Stock Exchange under the ticker symbol “VMRK” beginning at the open of trading on August 18, 2026. This adjustment is made in accordance with the Tilt Indices General Index Methodology & Calculation Manual.