AvalonBay Communities, Inc. (the "Company") (NYSE:AVB) announced today the final income allocations of the Company's 2022 dividend distributions on its Common Stock. The final dividend allocations as they will be reported on Form 1099-DIV are set forth in the following table:

Common Shares (CUSIP #053484101)

Declaration Date	Record Date	Payment Date	Distribution Per Share		Ordinary Taxable Dividend (1)		Return of Capital		Long-Term Capital Gain (2)(3)		Unrecap. Section 1250 Gain (2)

02/17/22	03/31/22	04/15/22	$	1.59000	$	1.30458	$	0.00000	$	0.24180	$	0.04363
05/19/22	06/30/22	07/15/22		1.59000		1.30458		0.00000		0.24180		0.04363
09/15/22	09/30/22	10/17/22		1.59000		1.30458		0.00000		0.24180		0.04363
11/10/22	12/30/22	01/17/23		1.59000		1.30458		0.00000		0.24180		0.04363


		Totals	$	6.36000	$	5.21832	$	0.00000	$	0.96718	$	0.17450

				100%		82%		0%		15%		3%

Components may not sum to the totals due to rounding differences. The information above presents final dividend allocations.

(1) $1.30458 of each quarterly dividend classified as taxable ordinary dividend is treated as qualified REIT dividends for purposes of Internal Revenue Code (IRC) Section 199A.

(2) $0.24180 of each quarterly dividend classified as Long-Term Capital Gain and $0.04363 of each quarterly dividend classified as Unrecaptured Section 1250 Gain dividends are treated as a Disposition of investment in United States Real Property for purposes of Internal Revenue Code (IRC) Section 897.

(3) For each quarterly dividend classified as Long-Term Capital Gain, the One Year Amounts Disclosure is $0.03571, the Three Year Amounts Disclosure is $0.03571, and 0.20609 is Section 1231 gain for purposes of Internal Revenue Code (IRC) Section 1061. Section 1061 is generally applicable to direct and indirect holders of "applicable partnership interests."

Please consult your tax advisor.

About AvalonBay Communities, Inc.

As of September 30, 2022, the Company owned or held a direct or indirect ownership interest in 293 apartment communities containing 88,405 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado. More information may be found on the Company's website at http://www.avalonbay.com.

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AvalonBay Communities Announces 2022 Dividend Income Tax Treatment