Page 1

brandywine REALTY TRUST Company / Investor Contact : Tom Wirth EVP & CFO 610-832-7434 tom.wirth@bdnreit.com Brandywine Realty Trust Announces Second Quarter Results And Narrows 2021 Guidance _ Philadelphia , PA , July 26 , 2021 - Brandywine Realty Trust ( NYSE : BDN ) today reported its financial and operating results for the three and six - month periods ended June 30 , 2021 . Management Comments " We are excited to see an increasing number of our tenants returning to the workplace . As physical building occupancy increases , we will continue to prioritize the safety of our employees , tenants and stakeholders , " stated Gerard H. Sweeney , President and Chief Executive Officer for Brandywine Realty Trust . " We are making excellent progress on our 2021 business plan . We have narrowed our speculative revenue guidance range while increasing the midpoint by $ 0.5 million and we are now 98 % complete at the revised midpoint . During the quarter , we continued to experience positive mark - to - market rents increasing 22 % and 14 % on an accrual and cash basis . Based on signed leases , we anticipate that during the second half of 2021 , we will experience increased occupancy and higher same- store cash NOI growth . Our balance sheet and liquidity remained strong during the quarter and we continue to make excellent progress on our life science and other development initiatives . Based on our first quarter progress , we are narrowing our 2021 FFO guidance of $ 1.33 to $ 1.41 per share to $ 1.34 to $ 1.40 per share . ” Second Quarter Highlights Financial Results ■ Net loss to common shareholders : ( $ 0.3 ) million , or less than ( $ 0.01 ) per share . ■ Funds from Operations ( FFO ) : $ 55.9 million , or $ 0.32 per share . Portfolio Results Core Portfolio : 90.5 % occupied and 92.5 % leased . ■ New and Renewal Leases Signed : 435,000 square feet " Rental Rate Mark - to - Market : Increased 22.2 % / 13.7 % on accrual / cash basis " Same Store Net Operating Income : 0.5 % on an accrual basis and 1.8 % on a cash basis Tenant Retention Ratio : 58 % 2021 Business Plan Revisions Speculative Revenue Range : Narrowed from $ 18.0- $ 22.0 million to $ 20.0- $ 21.0 million increasing the midpoint guidance by $ 0.5 million ; 98 % achieved . 2929 Walnut Street , Suite 1700 , Philadelphia , PA 19104 Phone : ( 610 ) 325-5600 • Fax : ( 610 ) 325-5622