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COMMODITY OFFICE ASSETS ✓ New or recently redeveloped properties that command premium rents and enjoy higher occupancy ✓ Located in the best markets and submarkets with close proximity to thriving and dynamic neighborhoods ✓ Highly-amenitized including on-site retail & food, activated outdoor space, collaboration & meeting space, state-of-the art fitness options with locker rooms ✓ Inspired design and efficient systems and floorplates are becoming gating factors for increasingly discerning customers LIFESTYLE OFFICE ASSETS × Older vintage assets with few or no in-building amenities and limited outdoor activation × Proximity to single-use office districts with challenging walkability and post work entertainment options × Dated designs as well as inefficient building systems and floorplates with bland common areas × Fundamental interior features – low ceiling heights, small windows, etc. – are uneconomic to change or improve through redevelopment × Inconvenient and exposed surface parking Companies are recognizing the importance of desirable office space in recruitment, retention and culture Large portions have become obsolete and unleasable – eventually will be redeveloped into another use
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RECENTLY COMPLETED REDEVELOPMENTS IN-PROCESS REDEVELOPMENT
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BANK OF AMERICA ANALYSIS OF PORTFOLIO QUALITY1
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CLASS A ASKING RENT ($/SF)1,2
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FLIGHT TO QUALITY
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DOMESTIC NET MIGRATION 20241 2024 OFFICE-USING EMPLOYMENT GROWTH2
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HISTORICAL POPULATION GROWTH1
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QUARTERLY U.S. LEASING ACTIVITY1 (MM SF)
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U.S. OFFICE INVENTORY1 (MM SF)
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LEASE EXPIRATIONS BY YEAR1
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COUSINS PORTFOLIO OCCUPANCY vs LEASED1
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COUSINS INCREASE IN 2ND GENERATION CASH NET RENT1
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ASSET RECYCLING1
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CURRENT DEVELOPMENT PIPELINE NASHVILLE
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2024 NEW INVESTMENTS
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NET DEBT/EBITDA1
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FFO/SHARE GROWTH 2022 VERSUS 20251
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OFFICE REIT COMMON DIVIDEND GROWTH (2019 vs CURRENT)1 COUSINS’ FAD PAYOUT RATIO2
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NET ASSET VALUE APPRECIATION PER GREEN STREET1
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3344 Peachtree Road NE Suite 1800 Atlanta, GA 30326 Executive Vice President and Chief Financial Officer gadzema@cousins.com 404.407.1116 Vice President, Finance and Investor Relations rimbeaux@cousins.com 404.407.1104