Acadia Realty Trust announced the appointment of Hope B. Woodhouse to the Company's Board of Trustees and to the Nominating and Corporate Governance Committee of the Board, effective January 10, 2023. Ms. Woodhouse is a seasoned financial executive with substantial experience in the financial services sector having spent over 25 years in executive management roles at top-ranked, global alternative asset management firms and broker dealers. From 2005 to 2009, she served as Chief Operating Officer and as a member of the management committee of Bridgewater Associates Inc. Between 2003 and 2005, Ms. Woodhouse was President and Chief Operating Officer of Auspex Group, L.P., and was Chief Operating Officer and a member of the management committee of Soros Fund Management LLC from 2000 to 2003.

Prior to that, she held various executive leadership positions, including at Tiger Management L.L.C., and Salomon Brothers Inc. Ms. Woodhouse also presently serves as an independent director on the Boards of Two Harbors Investment Corp., where she has served since 2012 and is chair of the Risk Oversight Committee and a member of the Audit Committee, and Granite Point Mortgage Trust Inc., where she has served since 2017 and is chair of the Compensation Committee and a member of the Nominating and Corporate Governance and Audit Committees. Ms. Woodhouse previously served as a director of Piper Jaffray Companies, Seoul Securities Co. Ltd., Soros Funds Limited, The Bond Market Association and as a member of the investment committee at Phillips Academy, Andover, Massachusetts.

Ms. Woodhouse received an A.B. degree in Economics from Georgetown University and an M.B.A. from Harvard Business School. The Company also announced that Wendy Luscombe, an independent trustee and member of the Audit Committee and chair of the Nominating and Corporate Governance Committee of the Board, will retire from the Board effective as of January 10, 2023. Ms. Luscombe has served on the Board since 2004 and her retirement is part of the Board's ongoing commitment to refreshment, including the appointment to the Board of Ms. Woodhouse, described above, and the recent appointment of independent trustees Mark Denien in 2022 and Kenneth A. McIntyre in 2021.

Additionally, as previously announced, independent trustee Lorrence T. Kellar will retire at the expiration of his current term.