Form of Proxy

EQUITY RESIDENTIAL

Notes

SPECIAL MEETING

BD Client Code:

Client Name:

Number of Shares Held in a BD Nominee Company:

No.	Proposition		For	Against	Abstain
1	A proposal to approve the issuance of Equity Residential common shares of beneficial interest (Equity Residential common shares) pursuant to the merger agreement by and among AvalonBay Communities, Inc., Equity Residential, ERP Operating Limited Partnership and Canopy Merger Sub LLC, a direct, wholly owned subsidiary of Equity Residential, dated May 20, 2026 (the Equity Residential share issuance proposal).
2	A proposal to approve an amendment to the Declaration of Trust of Equity Residential to increase the number of authorized Equity Residential common shares.
3	A proposal to adjourn the special meeting of Equity Residential shareholders (the Special Meeting) from time to time, if necessary or appropriate, to solicit additional proxies in the event there are not sufficient votes at the time of the Special Meeting to approve the Equity Residential share issuance proposal.