2013/2014 LEASING STATUS Wholly-owned properties – summary Applications + Leases Current Year Prior Year Applications + Leases1 Rentable Beds2 % of Rentable Beds Applications + Leases1 Rentable Beds2 % of Rentable Beds Design Beds Final Fall 2012 Occupancy3 Q4 2013 Same Store Wholly-owned Properties Legacy Properties 45,630 64,824 70.4% 49,326 64,845 76.1% 65,622 97.0% 2012 Acquisitions-Campus Acquisitions Portfolio 4,510 6,550 68.9% n/a n/a n/a 6,590 93.9% 2012 Acquisitions-Other 3,198 4,182 76.5% 379 627 60.4% 4 4,205 98.7% Subtotal-Q4 2013 Same Store Wholly-owned Properties 53,338 75,556 70.6% 49,705 65,472 75.9% 4 76,417 96.9% New Wholly-owned Properties Kayne Anderson Portfolio 8,079 12,020 67.2% n/a n/a n/a 12,049 92.2% 6 2013 Development Properties 4,545 4,517 100.6% n/a n/a n/a 4,553 n/a Subtotal-New Wholly-owned Properties 12,624 16,537 76.3% n/a n/a n/a 16,602 92.2% 4 Total-Wholly-owned Properties 65,962 92,093 71.6% 49,705 65,472 75.9% 4 93,019 96.2% 4  Leases Current Year Prior Year Leases1 Rentable Beds2 % of Rentable Beds Leases1 Rentable Beds2 % of Rentable Beds Design Beds Final Fall 2012 Occupancy3 Initial Rate Increase Projected Rate Increase5 Q4 2013 Same Store Wholly-owned Properties Legacy Properties 41,479 64,824 64.0% 44,614 64,845 68.8% 65,622 97.0% 2.5% 2.0% 2012 Acquisitions-Campus Acquisitions Portfolio 4,265 6,550 65.1% n/a n/a n/a 6,590 93.9% -0.9% -1.6% 2012 Acquisitions-Other 3,013 4,182 72.0% 340 627 54.2% 4 4,205 98.7% 2.7% 2.9% Subtotal-Q4 2013 Same Store Wholly-owned Properties 48,757 75,556 64.5% 44,954 65,472 68.7% 4 76,417 96.9% 2.2% 1.7% New Wholly-owned Properties Kayne Anderson Portfolio 7,562 12,020 62.9% n/a n/a n/a 12,049 92.2% 6 0.3% -0.2% 2013 Development Deliveries 3,769 4,517 83.4% n/a n/a n/a 4,553 n/a n/a n/a Subtotal-New Wholly-owned Properties 11,331 16,537 68.5% n/a n/a n/a 16,602 92.2% 4 n/a n/a Total-Wholly-owned Properties 60,088 92,093 65.2% 44,954 65,472 68.7% 4 93,019 96.2% 4 n/a n/a Note: The same store grouping presented above for purposes of disclosing the pre-leasing status for the upcoming 2013/2014 academic year represents properties that will be classified as same store properties during the fourth quarter 2013 (the first full quarter of operations in the 2013/2014 academic year.) This represents properties purchased or developed prior to October 1, 2012. 1. As of April 9, 2013 for the current year and April 9, 2012 for the prior year. 2. Rentable beds exclude beds needed for on-site staff. 3. As of September 30, 2012. 4. Properties not owned or under ACC management during the prior year are excluded for purposes of calculating the prior year percentage of rentable beds and final fall 2012 occupancy. 5. Projected rate increase is based on current executed leases and assumes all future leases will be executed at currently marketed rates up to targeted occupancy. 6. Represents September 30, 2012 occupancy per the previous portfolio owner. This portfolio was acquired by the company on November 30, 2012. AMERICAN CAMPUS COMMUNITIES::