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Forward-Looking Statements 2 Earnings Release 3 Company Information 5 Consolidated Balance Sheets 7 Consolidated Statements of Operations 8 Key Performance Metrics 9 Funds From Operations - Summary 12 Funds From Operations - Detail 13 Portfolio Statistics 16 Same Property Performance 19 Office Leasing Activity 20 Office Lease Expirations 21 Top 20 Office Tenants 22 Tenant Industry Diversification 23 Investment Activity 24 Development Pipeline 26 Land Inventory 27 Debt Schedule 28 Joint Venture Information 31 Non-GAAP Financial Measures - Calculations and Reconciliations 32 Non-GAAP Financial Measures - Definitions 39 TABLE OF CONTENTS Cousins Properties 1 Q2 2026 Supplemental Information Pictured Above: Promenade Central, Atlanta, GA Pictured on Cover: 300 Colorado and Colorado Tower, Austin, TX
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Certain matters contained in this report are “forward-looking statements” within the meaning of the federal securities laws and are subject to uncertainties and risks, as itemized herein. These forward-looking statements include information about possible or assumed future results of the business and our financial condition, liquidity, results of operations, plans, expectations, and objectives. Examples of forward-looking statements in this earnings release and supplemental information include the Company’s guidance and underlying assumptions; projected capital expenditures; industry trends; future occupancy or volume and velocity of leasing activity; and entry into new markets. Any forward-looking statements are based upon management's beliefs, assumptions, and expectations of our future performance, taking into account information that is currently available. These beliefs, assumptions, and expectations may change as a result of possible events or factors, not all of which are known. If a change occurs, our business, financial condition, liquidity, and results of operations may vary materially from those expressed in forward-looking statements. Actual results may vary from forward-looking statements due to, but not limited to, the following: the risks and uncertainties related to the impact of changes in general economic and capital market conditions (on an international or national basis or within the markets in which we operate), including changes in inflation, changes in interest rates, supply chain disruptions, labor market disruptions (including changes in unemployment), dislocation and volatility in capital markets, and potential longer-term changes in consumer and customer behavior resulting from the severity and duration of any downturn, adverse conditions or uncertainty in the U.S. or global economy; risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases on favorable terms and on anticipated schedules); any adverse change in the financial condition or liquidity of one or more of our tenants or borrowers under our real estate debt investments; changes in customer preferences regarding space utilization; changes in customers’ financial condition; the availability, cost, and adequacy of insurance coverage; competition from other developers, investors, owners, and operators of real estate; the failure to achieve anticipated benefits from intended or completed acquisitions, developments, investments, or dispositions; the cost and availability of financing, the effectiveness of any interest rate hedging contracts, and any failure to comply with debt covenants under credit agreements; the effect of common stock, debt, or operating partnership unit issuances; threatened terrorist attacks or sociopolitical unrest such as political instability, civil unrest, armed hostilities, or political activism and the potential impact of the same upon our day-to-day building operations; the immediate and long-term impact of the outbreak of a highly infectious or contagious disease on our and our customers’ financial condition; risks associated with security breaches through cyberattacks, cyber intrusions, or otherwise; risks associated with the adoption and usage of artificial intelligence; changes in senior management, the Board of Directors, or key personnel; the potential liability for existing or future environmental or other applicable regulatory requirements, including the requirements to qualify for taxation as a real estate investment trust; the financial condition and liquidity of, or disputes with, joint venture partners; material changes in dividend rates on common shares or other securities or the ability to pay those dividends; the impact of changes to applicable laws, including the tax laws impacting REITs and the passage of the One Big Beautiful Bill Act, and the impact of newly adopted accounting principles on our accounting policies and on period to period comparison of financial results; risks associated with climate change and severe weather events; and those additional risks and factors discussed in reports filed with the Securities and Exchange Commission ("SEC") by the Company. These forward-looking statements are not exhaustive, speak only as of the date of issuance of this report and are not guarantees of future results, performance, or achievements. Additional risk factors that could adversely affect our business and financial performance can be found in Part 1, Item 1A. Risk Factors, of our Annual Report on Form 10-K for the year ended December 31, 2025, and are specifically incorporated by reference herein. The Company does not undertake a duty to update or revise any forward-looking statement, whether as a result of new information, future events, or other matters, except as otherwise required by law. FORWARD-LOOKING STATEMENTS Cousins Properties 2 Q2 2026 Supplemental Information
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COUSINS PROPERTIES REPORTS SECOND QUARTER 2026 RESULTS Raises 2026 Earnings Guidance Midpoint ATLANTA, GA (July 30, 2026) - Cousins Properties (NYSE:CUZ) today reported its results of operations for the quarter ended June 30, 2026. "We had a busy and productive second quarter," said Colin Connolly, President and Chief Executive Officer of Cousins Properties. "We leased more than 920,000 square feet of office space during the second quarter, increasing our portfolio to 92.8% leased - the highest level since the first quarter of 2020. We also completed several strategic property transactions that further enhanced the quality of our lifestyle office portfolio. We are well-positioned for the second half of 2026 as our late-stage leasing pipeline remains robust and trophy office fundamentals in the Sun Belt are tightening." Financial Results For second quarter 2026: • Net income available to common stockholders was $26.2 million, or $0.16 per share, compared to net income of $14.5 million, or $0.09 per share, for second quarter 2025. The increase in net income is primarily attributable to a gain on the sale of an investment property. • Funds From Operations ("FFO") was $124.6 million, or $0.75 per share, compared to $117.5 million, or $0.70 per share, for second quarter 2025. For the six months ended June 30, 2026: • Net income available to common stockholders was $1.3 million, or $0.01 per share, compared to net income of $35.4 million, or $0.21 per share, for the six months ended June 30, 2025 . The decline in net income is primarily attributable to an impairment charge. • Funds From Operations ("FFO") was $247.5 million, or $1.49 per share, compared to $242.3 million, or $1.44 per share, for the six months ended June 30, 2025. Operations and Leasing Activity For second quarter 2026: • Same property net operating income ("NOI") on a cash-basis increased 5.9%. • Second generation net rent per square foot on a cash-basis increased 9.2%. • Executed 924,000 square feet of office leases, including 395,000 square feet of new and expansion leases, representing 43% of total leasing activity. For the six months ended June 30, 2026: • Same property net operating income ("NOI") on a cash-basis increased 5.6%. • Second generation net rent per square foot on a cash-basis increased 12.2%. • Executed 1,856,000 square feet of office leases, including 878,000 square feet of new and expansion leases, representing 47% of total leasing activity. EARNINGS RELEASE Cousins Properties 3 Q2 2026 Supplemental Information
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Investing & Financing Activity For second quarter 2026: • Closed a new five-year $1.2 billion unsecured credit facility, replacing the prior $1.0 billion facility that was scheduled to mature in April 2027, added two six-month extensions to our existing $400 million and $100 million unsecured term loans, and improved the borrowing spread by fifteen basis points on both the credit facility and the $400 million term loan and by thirty basis points on the $100 million term loan. • Purchased our joint venture partner's 10% interest in 100 Mill, a 287,000 square foot office property in Phoenix, for $18.5 million. The purchase price included a promote to our partner in excess of its partnership interest and was based on a value for the property of $158.7 million. • Sold Research Park Plaza V, a 173,000 square foot office property in Austin, for a gross sales price of $42.0 million resulting in a gain of $9.2 million. • Subsequent to quarter end, acquired a preferred equity interest in 5th & Walsh, a 199,000 square foot office development in Austin. Our funding commitment of $31.5 million is expected to be invested in 2027. • Subsequent to quarter end, sold One Eleven Congress, a 519,000 square foot office property in Austin, for a gross sales price of $208.0 million on July 29, 2026. Earnings Guidance For year ending December 31, 2026: • Net income between $0.08 and $0.14 per share, up from $0.02 and $0.10 per share. • FFO between $2.92 and $2.98 per share, up from $2.90 and $2.98 per share. • The increase in FFO per share is primarily driven by leasing activity that exceeded our prior forecast and the transaction activity discussed above. • Guidance assumes the 2.9 million common shares previously issued on a forward basis are settled during the third quarter. • Guidance assumes the sale of our 303 Tremont land parcel during the fourth quarter. • Guidance does not include any speculative property acquisitions, dispositions, or development starts. • Guidance reflects management’s current plans and assumptions as of the date of this earnings release and are subject to change as well as the risks and uncertainties more fully described in our SEC filings. Actual results could differ materially from this guidance. Investor Conference Call and Webcast The Company will conduct a conference call at 10:00 a.m. (Eastern Time) on Friday, July 31, 2026 to discuss the results of the quarter ended June 30, 2026. The number to call for this interactive teleconference is (800) 836-8184. The live webcast of this call can be accessed on the Company's website, www.cousins.com, through the “Cousins Properties Second Quarter Conference Call” link on the Investors page. A replay of the conference call will be available for seven days by dialing (888) 660-6345 and entering the passcode 33580#. The playback can also be accessed on the Company's website. EARNINGS RELEASE Cousins Properties 4 Q2 2026 Supplemental Information
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THE COMPANY Cousins Properties Incorporated ("Cousins" or the "Company") is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing, and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets, and opportunistic investments. For more information, please visit www.cousins.com. MANAGEMENT M. Colin Connolly Gregg D. Adzema Kennedy Hicks Richard G. Hickson IV President & Chief Executive Officer Executive Vice President & Chief Financial Officer Executive Vice President & Chief Investment Officer Executive Vice President, Operations John S. McColl Pamela F. Roper Jeffrey D. Symes Executive Vice President, Development Executive Vice President, General Counsel & Corporate Secretary Senior Vice President & Chief Accounting Officer BOARD OF DIRECTORS Robert M. Chapman Charles T. Cannada M. Colin Connolly Non-executive Chairman of Cousins Properties, former Chief Executive Officer of Centerpoint Properties Trust Private Investor President and Chief Executive Officer of Cousins Properties Scott W. Fordham Susan L. Givens R. Kent Griffin Jr. Former Chief Executive Officer and Director of TIER REIT, Inc. Former executive with Blackstone Managing Director of Phicas Investors Donna W. Hyland Dionne Nelson R. Dary Stone President and Chief Executive Officer of Children's Healthcare of Atlanta President and Chief Executive Officer of Laurel Street Residential President and Chief Executive Officer of R.D. Stone Interests COMPANY INFORMATION Cousins Properties 5 Q2 2026 Supplemental Information
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COMPANY INFORMATION EQUITY RESEARCH COVERAGE (1) Corporate Headquarters Investor Relations Barclays BofA Securities BMO Capital 3344 Peachtree Road NE Suite 1800 Atlanta GA 30326 404.407.1000 Roni Imbeaux Senior Vice President, Finance & Investor Relations rimbeaux@cousins.com 404.407.1104 Brendan Lynch 212.526.9428 Jana Galan 646.855.5042 John Kim 212.885.4115 Evercore ISI Green Street Jefferies Transfer Agent Equiniti Trust Company equiniti.com 866.627.2649 Stock Exchange NYSE: CUZ Steve Sakwa 212.446.9462 Dylan Burzinski 949.640.8780 Joe Dickstein 212.778.8771 J.P. Morgan KeyBanc Mizuho Securities RATING AGENCIES (1) Anthony Paolone 212.622.6682 Upal Rana 917.368.2316 Vikram Malhotra 212.282.3827 S&P Global Ratings Moody's Investors Service RW Baird Truist Securities Wells Fargo Hannah Gray 212.438.0244 Current Corporate Credit Rating: BBB Christian Azzi 212.553.9342 Current Corporate Credit Rating: Baa2 Nicholas Thillman 414.298.5053 Michael Lewis 212.319.5659 Blaine Heck 410.662.2556 Wolfe Research Outlook: Stable Outlook: Stable Ally Yaseen 646.582.9253 (1) Please note that any opinions, estimates, or forecasts regarding Cousins' performance made by the analysts and rating agencies listed above are theirs alone and do not represent opinions, forecasts, or predictions of Cousins or its management. Cousins does not, by its reference above or distribution, imply its endorsement of, or concurrence with, such information, conclusions, or recommendations. Pictured Above: Sail Tower, Austin, TX COMPANY INFORMATION Cousins Properties 6 Q2 2026 Supplemental Information
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(in thousands, except share and per share amounts) June 30, 2026 December 31, 2025 Assets: Real estate assets: Operating properties, net of accumulated depreciation of $1,944,115 and $1,922,394 in 2026 and 2025, respectively $ 7,872,060 $ 7,894,846 Land 135,869 135,870 8,007,929 8,030,716 Real estate assets and other assets held for sale, net 223,586 61,489 Cash and cash equivalents 6,699 5,720 Investments in real estate debt, at fair value 19,586 37,804 Accounts receivable 15,608 17,578 Deferred rents receivable 276,351 269,282 Investments in unconsolidated joint ventures 212,792 215,301 Intangible assets, net 175,884 164,738 Other assets, net 102,438 87,504 Total assets $ 9,040,873 $ 8,890,132 Liabilities: Notes payable $ 3,732,064 $ 3,340,815 Accounts payable and accrued expenses 294,261 314,317 Deferred income 286,872 301,358 Intangible liabilities, net 121,790 117,085 Other liabilities 106,583 111,506 Liabilities of real estate assets held for sale, net 7,736 2,849 Total liabilities 4,549,306 4,187,930 Commitments and contingencies Equity: Stockholders' investment: Common stock, $1 par value per share, 300,000,000 shares authorized, 164,602,058 and 167,981,990 issued and outstanding in 2026 and 2025, respectively 164,602 167,982 Additional paid-in capital 5,886,169 5,971,762 Distributions in excess of cumulative net income (1,567,095) (1,460,154) Total stockholders' investment 4,483,676 4,679,590 Nonredeemable noncontrolling interests 7,891 22,612 Total equity 4,491,567 4,702,202 Total liabilities and equity $ 9,040,873 $ 8,890,132 CONSOLIDATED BALANCE SHEETS Cousins Properties 7 Q2 2026 Supplemental Information
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(unaudited; in thousands, except per share amounts) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Revenues: Rental property revenues $ 265,714 $ 237,715 $ 526,822 $ 480,742 Fee income 2,267 494 3,512 990 Other 547 1,919 1,303 8,724 268,528 240,128 531,637 490,456 Expenses: Rental property operating expenses 84,666 74,179 167,251 151,335 Reimbursed expenses 172 119 292 296 General and administrative expenses 12,115 9,738 23,955 20,447 Interest expense 47,064 38,514 92,165 75,288 Operating property impairment — — 36,600 — Depreciation and amortization 104,845 100,890 213,251 203,004 Other 389 443 827 865 249,251 223,883 534,341 451,235 Loss from unconsolidated joint ventures (2,215) (1,587) (4,857) (3,470) Gain on investment property transaction 9,172 — 9,125 — Net income 26,234 14,658 1,564 35,751 Net income attributable to noncontrolling interests (76) (175) (262) (371) Net income available to common stockholders $ 26,158 $ 14,483 $ 1,302 $ 35,380 Net income per common share — basic and diluted $ 0.16 $ 0.09 $ 0.01 $ 0.21 Weighted average common shares — basic 164,561 167,930 165,685 167,870 Weighted average common shares — diluted 165,292 168,765 166,486 168,679 CONSOLIDATED STATEMENTS OF OPERATIONS Cousins Properties 8 Q2 2026 Supplemental Information
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Property Statistics Consolidated Operating Properties 36 36 36 37 37 37 37 35 35 Consolidated Rentable Square Feet (in thousands) 19,877 20,081 20,081 20,373 20,373 20,373 20,805 20,130 20,130 Unconsolidated Operating Properties 3 3 3 3 3 3 4 4 4 Unconsolidated Rentable Square Feet (in thousands) 1,236 1,236 1,236 1,236 1,236 1,236 2,139 2,140 2,140 Total Operating Properties 39 39 39 40 40 40 41 39 39 Total Rentable Square Feet (in thousands) 21,113 21,317 21,317 21,609 21,609 21,609 22,944 22,270 22,270 Office Percent Leased (period end) 91.6 % 92.1 % 91.6 % 90.0 % 90.7 % 90.7 % 91.9 % 92.8 % 92.8 % Office Weighted Average Occupancy 88.6 % 90.0 % 89.1 % 88.3 % 88.3 % 88.8 % 88.9 % 89.4 % 89.2 % Office Leasing Activity (2) Net Leased during the Period (SF, in thousands) 2,020 539 334 551 700 2,125 932 924 1,856 Net Rent (per SF) $39.77 $35.87 $40.95 $39.18 $36.52 $37.76 $44.54 $41.35 $42.96 Net Free Rent (per SF) (1.97) (1.77) (2.08) (1.97) (2.40) (2.07) (1.86) (2.47) (2.16) Leasing Commissions (per SF) (2.81) (2.81) (3.18) (2.69) (2.76) (2.82) (3.26) (3.13) (3.20) Tenant Improvements (per SF) (6.82) (6.23) (7.34) (6.15) (8.18) (7.01) (7.14) (7.70) (7.40) Leasing Costs (per SF) (11.60) (10.81) (12.60) (10.81) (13.34) (11.90) (12.26) (13.30) (12.76) Net Effective Rent (per SF) $28.17 $25.06 $28.35 $28.37 $23.18 $25.86 $32.28 $28.05 $30.20 Change in Second Generation Net Rent 28.2 % 18.3 % 27.2 % 23.8 % 19.9 % 21.5 % 28.7 % 26.8 % 27.8 % Change in Cash-Basis Second Generation Net Rent 8.5 % 3.2 % 10.9 % 4.2 % 0.2 % 3.5 % 15.2 % 9.2 % 12.2 % Same Property Information (3) Percent Leased (period end) 91.2 % 91.7 % 91.1 % 89.3 % 90.1 % 90.1 % 91.5 % 92.4 % 92.4 % Weighted Average Occupancy 88.6 % 89.4 % 88.4 % 87.4 % 87.4 % 88.1 % 88.5 % 88.8 % 88.7 % Change in NOI (over prior year period) 5.1 % 4.0 % 3.2 % 1.9 % 0.4 % 2.4 % 1.7 % 2.0 % 1.8 % Change in Cash-Basis NOI (over prior year period) 4.8 % 2.0 % 1.2 % 0.3 % 0.03 % 0.9 % 5.5 % 5.9 % 5.6 % Development Pipeline (4) Estimated Project Costs (in thousands) $441,550 $294,550 $294,550 $294,550 $294,550 $294,550 — — — Estimated Project Costs/Total Undepreciated Assets 4.1 % 2.7 % 2.6 % 2.7 % 2.6 % 2.6 % — — — Continued on next page 2024 2025 1st 2025 2nd 2025 3rd 2025 4th 2025 2026 1st 2026 2nd YTD 2026 KEY PERFORMANCE METRICS (1) Cousins Properties 9 Q2 2026 Supplemental Information
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Market Capitalization Common Stock Price Per Share $30.64 $29.50 $30.03 $28.94 $25.78 $25.78 $22.57 $29.98 $29.98 Common Stock/Units Outstanding (in thousands) 167,685 167,933 167,992 167,990 168,007 168,007 164,566 164,627 164,627 Equity Market Capitalization (in thousands) $5,137,868 $4,954,024 $5,044,800 $4,861,631 $4,331,220 $4,331,220 $3,714,255 $4,935,517 $4,935,517 Debt (in thousands) 3,274,388 3,203,476 3,660,608 3,475,120 3,507,020 3,507,020 3,938,750 3,900,218 3,900,218 Total Market Capitalization (in thousands) $8,412,256 $8,157,500 $8,705,408 $8,336,751 $7,838,240 $7,838,240 $7,653,005 $8,835,735 $8,835,735 Credit Ratios Net Debt/Total Market Capitalization 38.8 % 39.1 % 37.2 % 41.6 % 44.6 % 44.6 % 51.3 % 44.0 % 44.0 % Net Debt/Total Undepreciated Assets 30.2 % 29.7 % 28.9 % 31.2 % 31.3 % 31.3 % 34.4 % 34.3 % 34.3 % Net Debt/Annualized EBITDAre 5.16 4.87 5.11 5.38 5.30 5.30 5.66 5.57 5.57 Fixed Charges Coverage (EBITDAre) 4.01 4.05 3.73 3.50 3.52 3.69 3.45 3.39 3.42 Dividend Information Common Dividend per Share $1.28 $0.32 $0.32 $0.32 $0.32 $1.28 $0.32 $0.32 $0.64 Funds From Operations (FFO) Payout Ratio 48.2 % 43.0 % 45.7 % 46.1 % 45.0 % 44.9 % 42.8 % 42.3 % 42.6 % Funds Available for Distribution (FAD) Payout Ratio 76.5 % 71.0 % 75.6 % 76.3 % 90.1 % 77.7 % 65.0 % 71.8 % 68.2 % Operations Ratio Annualized General and Administrative Expenses/ Total Undepreciated Assets 0.34 % 0.40 % 0.35 % 0.34 % 0.31 % 0.31 % 0.41 % 0.43 % 0.43 % Additional Information In-Place Gross Rent (per SF) (5) $47.94 $48.66 $49.07 $49.76 $49.91 $49.91 $50.50 $50.07 $50.07 Straight-Line Rental Revenue (in thousands) $24,508 $12,477 $11,283 $9,424 $6,117 $39,301 $9,544 $6,861 $16,405 Above and Below Market Rents Amortization, Net (in thousands) $6,167 $2,845 $2,828 $3,422 $3,514 $12,609 $4,104 $4,266 $8,370 Second Generation Capital Expenditures (in thousands) $116,093 $33,281 $28,636 $29,981 $47,457 $139,355 $26,625 $35,914 $62,539 2024 2025 1st 2025 2nd 2025 3rd 2025 4th 2025 2026 1st 2026 2nd YTD 2026 (1) For Non-GAAP Financial Measures, see the calculations and reconciliations on pages 32 through 38. (2) See Office Leasing Activity on page 20 for additional detail and explanations. (3) Same Property Information is derived from the pool of same operating office properties that existed in the period as originally reported. See Same Property Performance on page 19 and Non- GAAP Financial Measures - Calculations and Reconciliations starting on page 32 for additional information. (4) The Company's share of estimated project costs. (5) In-place gross rent equals the annualized cash rent including the tenant's share of estimated operating expenses, if applicable, as of the end of the period divided by occupied square feet. KEY PERFORMANCE METRICS (1) Cousins Properties 10 Q2 2026 Supplemental Information
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Total Rentable Square Feet Equity Market Capitalization Net Debt / Annualized EBITDA re (in thousands) 21,113 21,609 22,270 12/31/24 12/31/25 06/30/26 0 5,000 10,000 15,000 20,000 25,000 30,000 ($ in millions) 5,138 4,331 4,936 12/31/24 12/31/25 06/30/26 0 2,000 4,000 6,000 8,000 5.16 5.30 5.57 12/31/24 12/31/25 06/30/26 0.00 2.00 4.00 6.00 8.00 Same Property NOI Change Second Generation Net Rent Change In-Place Gross Rent (per SF) (1) Cash-Basis (1) Cash-Basis (1) Year-over-Year Change 4.8% 0.9% 5.6% 2024 2025 YTD 2026 0.0% 1.3% 2.6% 3.9% 5.2% 6.5% 8.5% 3.5% 12.2% 2024 2025 YTD 2026 0.0% 4.0% 8.0% 12.0% 16.0% $47.94 $49.91 $50.07 12/31/24 12/31/25 06/30/26 $35 $40 $45 $50 $55 (1) Office properties only. Note: See additional information included herein for calculations, definitions, and reconciliations to GAAP financial measures. KEY PERFORMANCE METRICS Cousins Properties 11 Q2 2026 Supplemental Information
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Net Income (Loss) $ 46,581 $ 21,093 $ 14,658 $ 8,778 $ (3,277) $ 41,252 $ (24,670) $ 26,234 $ 1,564 Fee and Other Income (12,390) (10,168) (2,411) (2,378) (3,398) (18,355) (3,833) (5,052) (8,885) General and Administrative Expenses 36,566 10,709 9,738 9,510 8,685 38,642 11,840 12,115 23,955 Interest Expense 122,476 36,774 38,514 41,497 42,456 159,241 45,101 47,064 92,165 Operating Property Impairment (1) — — — — 13,286 13,286 36,600 — 36,600 Land and Related Predevelopment Cost Impairment (2) — — — — 1,034 1,034 — — — Depreciation and Amortization 365,045 102,114 100,890 105,272 107,083 415,359 108,406 104,845 213,251 Reimbursed and Other Expenses 2,731 600 560 565 619 2,344 559 560 1,119 Loss from Unconsolidated Joint Ventures 2,796 1,883 1,587 2,682 2,007 8,159 2,642 2,215 4,857 NOI from Unconsolidated Joint Ventures 6,617 2,223 3,165 3,256 3,705 12,349 3,371 3,535 6,906 Transaction Loss (Gain) (98) — — — — — 47 (9,172) (9,125) NOI (3) $ 570,324 $ 165,228 $ 166,701 $ 169,182 $ 172,200 $ 673,311 $ 180,063 $ 182,344 $ 362,407 Fee and Other Income (3) 12,522 10,183 2,450 2,400 3,445 18,478 3,865 5,096 8,961 General and Administrative Expenses (36,566) (10,709) (9,738) (9,510) (8,685) (38,642) (11,840) (12,115) (23,955) Interest Expense (3) (126,960) (38,763) (40,753) (44,327) (45,106) (168,949) (47,834) (49,699) (97,533) Reimbursed and Other Expenses (3) (3,047) (521) (625) (659) (725) (2,530) (817) (663) (1,480) Land and Related Predevelopment Cost Impairment (2) — — — — (1,034) (1,034) — — — Loss on Sales of Undepreciated Investment Properties (3) (3) — — — — — — — — Depreciation and Amortization of Non-Real Estate Assets (461) (117) (121) (121) (129) (488) (140) (145) (285) Partners' Share of FFO in Consolidated Joint Ventures (1,717) (467) (420) (429) (429) (1,745) (430) (173) (603) FFO (3) $ 414,092 $ 124,834 $ 117,494 $ 116,536 $ 119,537 $ 478,401 $ 122,867 $ 124,645 $ 247,512 Weighted Average Common Shares - Diluted 154,015 168,593 168,765 168,738 168,770 168,716 167,681 165,292 166,486 FFO per Share (3) $ 2.69 $ 0.74 $ 0.70 $ 0.69 $ 0.71 $ 2.84 $ 0.73 $ 0.75 $ 1.49 (amounts in thousands, except per share amounts) 2024 2025 1st 2025 2nd 2025 3rd 2025 4th 2025 2026 1st 2026 2nd YTD 2026 (1) The operating property impairments relate to One Eleven Congress in the first quarter of 2026 and Harborview in the fourth quarter of 2025. (2) The land and related predevelopment cost impairment in the fourth quarter of 2025 relate to a land parcel at 303 Tremont. The bases of the land and predevelopment cost were $18.9 million and $5.8 million, respectively, prior to impairment charges. (3) The above amounts include our share of amounts from unconsolidated joint ventures for the respective category. The Company does not control the operations of these unconsolidated joint ventures but believes including these amounts are meaningful to investors and analysts. FUNDS FROM OPERATIONS - SUMMARY Cousins Properties 12 Q2 2026 Supplemental Information
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NOI Consolidated Properties The Domain (2) $ 78,929 $ 20,825 $ 21,725 $ 22,055 $ 22,130 $ 86,735 $ 22,185 $ 22,849 $ 45,034 Sail Tower 1,843 11,682 11,771 11,726 11,780 46,959 11,800 11,610 23,410 Corporate Center (2) 30,284 8,094 8,458 8,468 8,603 33,623 8,790 9,024 17,814 Terminus (2) 31,910 8,252 8,566 8,644 7,919 33,381 8,472 8,513 16,985 Vantage South End (2) 2,338 7,136 7,031 7,140 7,148 28,455 7,243 7,511 14,754 Spring & 8th (2) 29,471 7,375 7,369 7,412 7,380 29,536 7,344 7,367 14,711 Buckhead Plaza (2) 22,380 6,471 6,223 6,537 6,480 25,711 6,796 6,846 13,642 300 Colorado 24,062 6,541 6,726 6,686 6,820 26,773 6,812 6,683 13,495 Promenade Tower 16,714 5,433 5,501 5,761 5,984 22,679 6,657 6,826 13,483 300 South Tryon — — — — — — 4,770 7,224 11,994 Hayden Ferry (2) 17,818 4,560 4,621 4,559 5,129 18,869 6,065 5,741 11,806 BriarLake Plaza (2) 22,363 5,686 5,533 5,660 5,627 22,506 5,558 5,210 10,768 San Jacinto Center 20,161 4,495 4,409 4,547 4,710 18,161 4,993 4,598 9,591 Avalon (2) 16,821 3,483 3,625 3,646 3,892 14,646 4,468 4,890 9,358 The Link — — — 3,258 4,483 7,741 4,515 4,569 9,084 The Terrace (2) 15,914 4,152 4,006 3,986 4,078 16,222 4,168 4,310 8,478 725 Ponce 17,913 4,162 4,146 4,156 4,121 16,585 4,186 4,172 8,358 Colorado Tower 17,655 4,252 3,663 3,550 4,085 15,550 4,233 4,023 8,256 Northpark (2) 20,652 4,818 3,920 3,822 3,857 16,417 3,983 4,174 8,157 3344 Peachtree 15,652 3,745 4,051 4,006 4,141 15,943 3,831 3,971 7,802 100 Mill 15,128 3,992 3,782 3,856 3,851 15,481 3,840 3,741 7,581 The RailYard 12,262 3,027 3,058 3,147 2,996 12,228 2,956 3,038 5,994 3350 Peachtree 6,748 1,970 2,274 2,511 2,709 9,464 2,677 2,729 5,406 201 North Tryon 19,168 4,795 4,983 3,442 2,968 16,188 2,768 2,622 5,390 Legacy Union One 9,505 2,372 2,360 2,367 2,358 9,457 2,545 2,517 5,062 Promenade Central 7,157 2,349 2,333 2,255 2,332 9,269 2,382 2,555 4,937 Heights Union (2) 10,606 2,623 2,677 2,614 2,657 10,571 2,506 2,361 4,867 Tempe Gateway 6,003 2,122 2,106 2,342 2,352 8,922 2,439 2,329 4,768 Domain Point (2) 8,332 2,040 2,040 1,843 2,045 7,968 1,963 1,971 3,934 5950 Sherry Lane 4,432 1,244 1,283 1,456 1,422 5,405 1,359 1,490 2,849 111 West Rio 5,648 1,419 1,400 1,408 1,424 5,651 1,396 1,406 2,802 550 South 8,396 1,875 1,859 1,861 1,505 7,100 1,284 1,489 2,773 The Pointe 4,906 1,316 1,251 1,223 1,317 5,107 1,351 1,400 2,751 3348 Peachtree 4,926 1,301 1,156 886 1,320 4,663 1,394 1,214 2,608 Meridian Mark Plaza 4,494 1,158 1,280 1,301 1,239 4,978 1,296 1,041 2,337 Other (3) 33,116 8,240 8,350 7,795 7,633 32,018 7,667 6,795 14,462 Subtotal - Consolidated 563,707 163,005 163,536 165,926 168,495 660,962 176,692 178,809 355,501 Continued on next page (amounts in thousands, except per share amounts) 2024 2025 1st 2025 2nd 2025 3rd 2025 4th 2025 2026 1st 2026 2nd YTD 2026 FUNDS FROM OPERATIONS - DETAIL (1) Cousins Properties 13 Q2 2026 Supplemental Information
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Unconsolidated Properties (4) Neuhoff (5) 113 400 1,328 1,436 2,031 5,195 1,772 1,942 3,714 Medical Offices at Emory Hospital 4,661 1,176 1,188 1,227 1,198 4,789 1,205 1,142 2,347 120 West Trinity (2) 1,100 286 228 244 243 1,001 240 268 508 Proscenium 743 361 421 349 233 1,364 154 183 337 Subtotal - Unconsolidated 6,617 2,223 3,165 3,256 3,705 12,349 3,371 3,535 6,906 Total Net Operating Income (1) 570,324 165,228 166,701 169,182 172,200 673,311 180,063 182,344 362,407 Fee and Other Income Management Fees (6) 1,761 496 422 454 423 1,795 449 511 960 Termination Fees 3,405 2,866 — 512 1,709 5,087 1,831 2,240 4,071 Leasing & Other Fees — — 33 — 2 35 725 1,701 2,426 Development Fees — — 39 72 102 213 72 54 126 Interest Income from Real Estate Debt (7) 5,772 2,149 568 606 1,097 4,420 727 485 1,212 Other Income (8) 1,452 4,656 1,350 734 65 6,805 29 61 90 Other Income - Unconsolidated (4) 132 16 38 22 47 123 32 44 76 Total Fee and Other Income 12,522 10,183 2,450 2,400 3,445 18,478 3,865 5,096 8,961 General and Administrative Expenses (36,566) (10,709) (9,738) (9,510) (8,685) (38,642) (11,840) (12,115) (23,955) Interest Expense Consolidated Interest Expense Public Senior Notes, Unsecured ($500M) (11,201) (7,474) (7,468) (7,485) (7,480) (29,907) (7,480) (7,487) (14,967) Public Senior Notes, Unsecured ($500M) — — (1,798) (6,724) (6,742) (15,264) (6,749) (6,745) (13,494) Public Senior Notes, Unsecured ($400M) (830) (5,551) (5,548) (5,544) (5,543) (22,186) (5,546) (5,548) (11,094) Term Loan, Unsecured ($400M) (23,510) (5,539) (5,356) (5,425) (5,221) (21,541) (4,919) (4,620) (9,539) Public Senior Notes, Unsecured ($500M) — — — — — — (2,881) (6,310) (9,191) Credit Facility, Unsecured (17,324) (1,725) (1,390) (1,353) (2,331) (6,799) (3,646) (3,520) (7,166) Terminus (2) (14,055) (3,514) (3,514) (3,514) (3,513) (14,055) (3,514) (3,514) (7,028) Privately Placed Senior Notes, Unsecured ($275M) (10,975) (2,744) (2,744) (2,743) (2,744) (10,975) (2,744) (2,744) (5,488) Privately Placed Senior Notes, Unsecured ($250M) (9,764) (2,441) (2,441) (2,441) (2,441) (9,764) (2,441) (2,441) (4,882) Term Loan, Unsecured ($100M) (17,967) (3,482) (3,486) (3,598) (3,373) (13,939) (2,226) (1,125) (3,351) Privately Placed Senior Notes, Unsecured ($125M) (4,789) (1,197) (1,198) (1,197) (1,197) (4,789) (1,197) (1,198) (2,395) Privately Placed Senior Notes, Unsecured ($100M) (4,146) (1,036) (1,036) (1,037) (1,036) (4,145) (1,036) (1,037) (2,073) 201 North Tryon (4,265) (1,046) (1,038) (1,030) (1,023) (4,137) (1,015) (1,006) (2,021) Colorado Tower (3,732) (918) (911) (905) (905) (3,639) (899) (890) (1,789) Other (9) (12,467) (2,490) (2,489) (135) — (5,114) — — — Capitalized (10) 12,549 2,383 1,903 1,634 1,093 7,013 1,192 1,121 2,313 Subtotal - Consolidated Interest Expense (122,476) (36,774) (38,514) (41,497) (42,456) (159,241) (45,101) (47,064) (92,165) Unconsolidated Interest Expense (4) Neuhoff (5) (2,452) (1,481) (1,731) (2,322) (2,142) (7,676) (2,225) (2,127) (4,352) Medical Offices at Emory Hospital (2,032) (508) (508) (508) (508) (2,032) (508) (508) (1,016) Subtotal - Unconsolidated Interest Expense (4,484) (1,989) (2,239) (2,830) (2,650) (9,708) (2,733) (2,635) (5,368) Total Interest Expense (126,960) (38,763) (40,753) (44,327) (45,106) (168,949) (47,834) (49,699) (97,533) Continued on next page (amounts in thousands, except per share amounts) 2024 2025 1st 2025 2nd 2025 3rd 2025 4th 2025 2026 1st 2026 2nd YTD 2026 FUNDS FROM OPERATIONS - DETAIL (1) Cousins Properties 14 Q2 2026 Supplemental Information
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Reimbursed and Other Expenses Reimbursed Expenses (6) (634) (177) (120) (123) (124) (544) (120) (172) (292) Property Taxes and Other Land Holding Costs (4) (1,020) (355) (387) (320) (334) (1,396) (416) (367) (783) Predevelopment & Other Costs (4) (1,393) 11 (118) (216) (267) (590) (281) (124) (405) Land and Related Predevelopment Cost Impairment — — — — (1,034) (1,034) — — — Total Reimbursed and Other Expenses (3,047) (521) (625) (659) (1,759) (3,564) (817) (663) (1,480) Loss on Sales of Undepreciated Investment Properties Consolidated (3) — — — — — — — — Total Loss on Sales of Undepreciated Investment Properties (3) — — — — — — — — — — Depreciation and Amortization of Non-Real Estate Assets (461) (117) (121) (121) (129) (488) (140) (145) (285) — Partners' Share of FFO in Consolidated Joint Ventures (1,717) (467) (420) (429) (429) (1,745) (430) (173) (603) FFO $ 414,092 $ 124,834 $ 117,494 $ 116,536 $ 119,537 $ 478,401 $ 122,867 $ 124,645 $ 247,512 Weighted Average Shares - Diluted 154,015 168,593 168,765 168,738 168,770 168,716 167,681 165,292 166,486 FFO per Share $ 2.69 $ 0.74 $ 0.70 $ 0.69 $ 0.71 $ 2.84 $ 0.73 $ 0.75 $ 1.49 (amounts in thousands, except per share amounts) 2024 2025 1st 2025 2nd 2025 3rd 2025 4th 2025 2026 1st 2026 2nd YTD 2026 Note: Amounts may differ slightly from other schedules contained herein due to rounding. (1) See Non-GAAP Financial Measures - Calculations and Reconciliations beginning on page 32. (2) Contains multiple buildings that are grouped together for reporting purposes. (3) Primarily represents operating properties sold prior to or held for sale as of June 30, 2026 and also includes the College Street Garage and Domain 4. The Company plans to hold the Domain 4 site for future development. (4) Unconsolidated amounts included in the reconciliation above represent amounts recorded in unconsolidated joint ventures multiplied by the Company's ownership interest. The Company does not control the operations of the unconsolidated joint ventures but believes including these amounts in the categories indicated is meaningful to investors and analysts. (5) Represents the initial operations at our Neuhoff property, which is not yet stabilized. (6) Reimbursed Expenses include costs incurred by the Company for management services provided to our unconsolidated joint ventures. The reimbursement of these costs by the unconsolidated joint ventures is included in Management Fees. (7) Included in Interest Income from Real Estate Debt for the first quarter of 2025 is $858,000 related to a minimum interest guaranty paid by the borrower of the Radius loan upon early repayment. (8) Included in Other Income for the first quarter of 2025 is $4.6 million from the sale of our SVB bankruptcy claim. (9) Primarily represents interest on consolidated loans repaid prior to June 30, 2026. (10) Amounts of consolidated interest expense related to consolidated debt that are capitalized to consolidated development and redevelopment projects as well as to equity in unconsolidated development projects. FUNDS FROM OPERATIONS - DETAIL (1) Cousins Properties 15 Q2 2026 Supplemental Information
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Office Properties Rentable Square Feet Financial Statement Presentation Company's Ownership Interest End of Period Leased Weighted Average Occupancy (2) % of Total NOI / 2Q261Q26 2Q26 1Q26 2Q26 The Domain (3) (4) 2,080,000 Consolidated 100% 97.6% 99.2% 97.9% 97.6% 12.9% Sail Tower 804,000 Consolidated 100% 100.0% 100.0% 100.0% 100.0% 6.6% 300 Colorado 378,000 Consolidated 100% 100.0% 100.0% 100.0% 100.0% 3.8% San Jacinto Center 399,000 Consolidated 100% 90.3% 82.3% 87.6% 82.2% 2.6% The Terrace (3) 619,000 Consolidated 100% 89.6% 91.3% 83.4% 84.3% 2.4% Colorado Tower 373,000 Consolidated 100% 89.7% 96.3% 89.7% 89.7% 2.3% Domain Point (3) 240,000 Consolidated 96.5% 93.6% 93.6% 93.6% 93.6% 1.1% AUSTIN 4,893,000 95.8% 96.5% 94.9% 94.5% 31.7% Terminus (3) 1,227,000 Consolidated 100% 83.8% 89.3% 81.8% 83.1% 4.7% Spring & 8th (3) 765,000 Consolidated 100% 100.0% 100.0% 100.0% 100.0% 4.1% Buckhead Plaza (3) 680,000 Consolidated 100% 95.8% 95.4% 92.7% 92.4% 3.9% Promenade Tower 777,000 Consolidated 100% 87.0% 88.8% 85.1% 86.6% 3.9% Avalon (3) 481,000 Consolidated 100% 100.0% 100.0% 98.3% 100.0% 2.8% 725 Ponce 372,000 Consolidated 100% 87.6% 100.0% 87.6% 87.6% 2.4% Northpark (3) 1,407,000 Consolidated 100% 83.7% 84.5% 69.3% 69.4% 2.4% 3344 Peachtree 485,000 Consolidated 100% 94.5% 96.5% 94.5% 94.2% 2.3% 3350 Peachtree 409,000 Consolidated 100% 91.8% 92.5% 91.8% 92.5% 1.5% Promenade Central 367,000 Consolidated 100% 84.3% 92.7% 78.7% 81.1% 1.5% 3348 Peachtree 258,000 Consolidated 100% 77.0% 75.4% 77.0% 74.3% 0.7% Meridian Mark Plaza 160,000 Consolidated 100% 100.0% 100.0% 100.0% 100.0% 0.6% Medical Offices at Emory Hospital 359,000 Unconsolidated 50% 99.2% 99.0% 99.2% 99.0% 0.6% Proscenium 525,000 Unconsolidated 20% 61.6% 62.9% 44.8% 44.8% 0.1% 120 West Trinity Office 43,000 Unconsolidated 20% 74.2% 74.2% 74.2% 74.2% 0.1% ATLANTA 8,315,000 89.3% 91.6% 85.2% 85.7% 31.6% Vantage South End (3) 639,000 Consolidated 100% 97.4% 97.5% 97.4% 97.5% 4.3% 300 South Tryon (5) 637,000 Consolidated 100% 100.0% 100.0% 100.0% 100.0% 4.1% The RailYard 329,000 Consolidated 100% 99.0% 97.8% 98.1% 98.3% 1.7% 201 North Tryon 687,000 Consolidated 100% 49.0% 49.3% 48.8% 49.3% 1.5% 550 South 399,000 Consolidated 100% 77.9% 71.1% 55.8% 65.4% 0.8% CHARLOTTE 2,691,000 82.9% 81.9% 77.6% 81.1% 12.4% Hayden Ferry (3) (6) 805,000 Consolidated 100% 95.4% 96.3% 92.2% 90.1% 3.3% 100 Mill 287,000 Consolidated 100% 98.1% 98.2% 98.1% 98.2% 2.1% Tempe Gateway 265,000 Consolidated 100% 98.4% 94.6% 95.7% 94.2% 1.3% 111 West Rio 225,000 Consolidated 100% 100.0% 100.0% 100.0% 100.0% 0.8% PHOENIX 1,582,000 97.3% 97.0% 95.4% 94.1% 7.5% Continued on next page PORTFOLIO STATISTICS (1) Cousins Properties 16 Q2 2026 Supplemental Information
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Office Properties Rentable Square Feet Financial Statement Presentation Company's Ownership Interest End of Period Leased Weighted Average Occupancy (2) % of Total NOI / 2Q261Q26 2Q26 1Q26 2Q26 Corporate Center (3) 1,229,000 Consolidated 100% 96.5% 96.5% 95.6% 94.9% 5.1% Heights Union (3) 294,000 Consolidated 100% 100.0% 100.0% 100.0% 100.0% 1.3% The Pointe 253,000 Consolidated 100% 93.2% 94.6% 89.3% 93.1% 0.8% TAMPA 1,776,000 96.6% 96.8% 95.5% 95.5% 7.2% The Link (5) 292,000 Consolidated 100% 95.8% 95.9% 93.6% 94.5% 2.6% Legacy Union One 319,000 Consolidated 100% 100.0% 100.0% 100.0% 100.0% 1.4% 5950 Sherry Lane 197,000 Consolidated 100% 98.5% 95.7% 87.3% 86.8% 0.8% DALLAS 808,000 98.1% 97.5% 94.6% 94.8% 4.8% BriarLake Plaza (3) 835,000 Consolidated 100% 97.0% 97.2% 94.1% 94.8% 3.0% HOUSTON 835,000 97.0% 97.2% 94.1% 94.8% 3.0% Neuhoff Office (5) (7) 396,000 Unconsolidated 50% 84.3% 95.8% 50.0% 56.1% 0.5% NASHVILLE 396,000 84.3% 95.8% 50.0% 56.1% 0.5% TOTAL OFFICE 21,296,000 91.9% 92.8% 88.9% 89.4% 98.7% Other Properties (5) Neuhoff Apartments - Nashville (542 units) (7) 454,000 Unconsolidated 50% 92.6% 93.2% 87.5% 87.8% 0.6% College Street Garage - Charlotte N/A Consolidated 100% N/A N/A N/A N/A 0.5% 120 West Trinity Apartments - Atlanta (330 units) 310,000 Unconsolidated 20% 96.3% 98.5% 95.5% 95.1% 0.1% Neuhoff Retail - Nashville (7) 53,000 Unconsolidated 50% 46.6% 46.6% 46.6% 46.6% 0.1% Domain 4 - Austin (4) 157,000 Consolidated 100% 33.4% —% 33.4% —% —% TOTAL OTHER 974,000 1.3% TOTAL 22,270,000 100.0% (1) Represents the Company's operating properties, excluding properties in the development pipeline and properties sold prior to or held for sale as of June 30, 2026. (2) The weighted average occupancy of the property over the period for which the property was available for occupancy during the respective quarters. (3) Contains two or more buildings that are grouped together for reporting purposes. (4) Effective September 1, 2024, Domain 4 was excluded from the office square footage, end of period leased, weighted average occupancy, and Same Property. The Company plans to hold the Domain 4 site for future development. Domain 9 stabilized on March 1, 2025 and was added to the portfolio statistics at that time. Domain 9 is not included in Same Property. (5) Not included in Same Property. (6) Effective October 1, 2023, Hayden Ferry I, a 207,000 square foot building, in this group of buildings was excluded from Same Property, end of period leased, and weighted average occupancy due to commencement of the current full redevelopment of this building. This building will be excluded from the Phoenix and Total Office end of period leased and weighted average occupancy calculations until occupancy stabilizes. The renovation is substantially complete, and as of June 30, 2026, the building was 95.7% leased and had a weighted average occupancy of 50.5%. (7) Following substantial completion in the first quarter of 2026, Phase I of our Neuhoff joint venture's development project was removed from our development pipeline and included above. Until stabilization this property will be excluded from the Total Office end of period leased and weighted average occupancy calculations. PORTFOLIO STATISTICS (1) Cousins Properties 17 Q2 2026 Supplemental Information
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Second Quarter 2026 Portfolio NOI by Market PORTFOLIO STATISTICS Cousins Properties 18 Q2 2026 Supplemental Information Charlotte 12.9% Nashville 1.2%Dallas 4.8% Atlanta 31.7% Tampa 7.2% Houston 3.0%Austin 31.7% Phoenix 7.5%
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($ in thousands) Three Months Ended June 30, 2025 2026 $ Change % Change Rental Property Revenues (2) $ 219,735 $ 231,052 $ 11,317 5.2 % Rental Property Operating Expenses (2) 67,285 75,544 8,259 12.3 % Same Property Net Operating Income $ 152,450 $ 155,508 $ 3,058 2.0 % Cash-Basis Rental Property Revenues (3) $ 199,942 $ 216,309 $ 16,367 8.2 % Cash-Basis Rental Property Operating Expenses (4) 67,107 75,618 8,511 12.7 % Cash-Basis Same Property Net Operating Income $ 132,835 $ 140,691 $ 7,856 5.9 % End of Period Leased 92.2 % 92.4 % Weighted Average Occupancy 90.1 % 88.8 % Six Months Ended June 30, 2025 2026 $ Change % Change Rental Property Revenues (2) $ 444,201 $ 459,914 $ 15,713 3.5 % Rental Property Operating Expenses (2) 138,779 149,063 10,284 7.4 % Same Property Net Operating Income $ 305,422 $ 310,851 $ 5,429 1.8 % Cash-Basis Rental Property Revenues (3) $ 402,226 $ 427,606 $ 25,380 6.3 % Cash-Basis Rental Property Operating Expenses (4) 138,418 148,975 10,557 7.6 % Cash-Basis Same Property Net Operating Income $ 263,808 $ 278,631 $ 14,823 5.6 % Weighted Average Occupancy 89.7 % 88.7 % (1) Same Properties include those operating office properties that were stabilized and owned by the Company for the entirety of all comparable reporting periods presented. See Portfolio Statistics on pages 16 and 17 for footnotes indicating which properties are not included in Same Property. See Non-GAAP Financial Measures - Calculations and Reconciliations beginning on page 32. (2) Rental Property Revenues and Operating Expenses include results for the Company and its share of unconsolidated joint ventures and exclude termination fee income. Net operating income for unconsolidated joint ventures is calculated as Rental Property Revenues less termination fee income and Rental Property Operating Expenses at the joint ventures, multiplied by the Company's ownership interest. The Company does not control the operations of the unconsolidated joint ventures but believes that including these amounts with consolidated net operating income is meaningful to investors and analysts. (3) Cash-Basis Rental Property Revenues include that of the Company and its share of unconsolidated joint ventures. It represents Rental Property Revenues, excluding termination fee income, straight-line rents, other deferred income amortization, amortization of lease inducements, and amortization of acquired above and below market rents. (4) Cash-Basis Rental Property Operating Expenses include that of the Company and its share of unconsolidated joint ventures. It represents Rental Property Operating Expenses, excluding straight-line ground rent expense and amortization of above and below market ground rent expense. SAME PROPERTY PERFORMANCE (1) Cousins Properties 19 Q2 2026 Supplemental Information
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Three Months Ended June 30, 2026 Six Months Ended June 30, 2026 New Renewal Expansion Total New Renewal Expansion Total Net leased square feet (1) 331,726 529,767 62,893 924,386 737,343 978,025 140,587 1,855,955 Number of transactions 25 19 5 49 43 38 17 98 Lease term in years (2) 9.0 8.4 9.6 8.7 8.7 6.8 8.6 7.7 Net effective rent calculation (per square foot per year) (2) Net annualized rent (3) $ 41.22 $ 39.73 $ 55.62 $ 41.35 $ 42.51 $ 42.09 $ 51.24 $ 42.96 Net free rent (2.84) (2.03) (4.19) (2.47) (3.07) (1.33) (3.07) (2.16) Leasing commissions (3.55) (2.75) (4.10) (3.13) (3.54) (2.84) (3.85) (3.20) Tenant improvements (10.67) (5.45) (10.97) (7.70) (10.60) (4.80) (8.76) (7.40) Total leasing costs (17.06) (10.23) (19.26) (13.30) (17.21) (8.97) (15.68) (12.76) Net effective rent $ 24.16 $ 29.50 $ 36.36 $ 28.05 $ 25.30 $ 33.12 $ 35.56 $ 30.20 Second generation leased square footage (4) 637,741 1,294,174 Increase in straight-line basis second generation net rent per square foot (5) 26.8 % 27.8 % Increase in cash-basis second generation net rent per square foot (6) 9.2 % 12.2 % (1) Comprised of total square feet leased, unadjusted for ownership share. Excludes leases approximately one year or less, along with apartment, retail, amenity, storage, and intercompany space leases. (2) Weighted average of net leased square feet. (3) Straight-line net rent per square foot (operating expense reimbursements deducted from gross leases) over the lease term, prior to any deductions for leasing costs. Excludes percent rent leases. (4) Excludes leases executed for spaces that were vacant upon acquisition, new leases in development properties, percentage rent leases, and leases for spaces that have been vacant for one year or more. (5) Increase in second generation straight-line basis net annualized rent on a weighted average basis. (6) Increase in second generation net cash rent at the end of the term paid by the prior tenant compared to net cash rent at the beginning of the term (after any free rent period) paid by the current tenant on a weighted average basis. For early renewals, the final net cash rent paid under the original lease is compared to the first net cash rent paid under the terms of the renewal. Net cash rent is net of any recovery of operating expenses but prior to any deductions for leasing costs. OFFICE LEASING ACTIVITY Cousins Properties 20 Q2 2026 Supplemental Information
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Lease Expirations by Year (1) Year of Expiration Square Feet Expiring % of Leased Space Annual Contractual Rent ($ in thousands) (2) % of Annual Contractual Rent Annual Contractual Rent/Sq. Ft. 2026 435,578 2.3 % $ 19,853 1.9 % $ 45.58 2027 835,087 4.5 % 38,493 3.6 % 46.10 2028 1,663,619 9.0 % 82,762 7.8 % 49.75 2029 1,910,000 10.3 % 96,957 9.2 % 50.76 2030 1,735,389 9.3 % 90,418 8.5 % 52.10 2031 1,421,956 7.6 % 81,937 7.7 % 57.62 2032 1,867,635 10.1 % 104,287 9.8 % 55.84 2033 2,221,608 12.0 % 138,002 13.0 % 62.12 2034 1,351,058 7.3 % 78,536 7.4 % 58.13 2035 & Thereafter 5,123,808 27.6 % 330,131 31.1 % 64.43 Total 18,565,738 100.0 % $ 1,061,376 100.0 % $ 57.17 % of Leased Space Square Feet 435,578 835,087 1,663,6191,910,0001,735,3891,421,956 1,867,6352,221,608 1,351,058 5,123,808 2026 2.3% 2027 4.5% 2028 9.0% 2029 10.3% 2030 9.3% 2031 7.6% 2032 10.1% 2033 12.0% 2034 7.3% 2035 & Thereafter 27.6% 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 (1) Company's share of leases expiring after June 30, 2026, excluding leases at properties held for sale as of June 30, 2026. Expiring square footage for which new leases have been executed is reflected based on the expiration date of the new lease. (2) Annual Contractual Rent is the estimated rent in the year of expiration. It includes the minimum base rent and an estimate of the tenant's share of operating expenses, if applicable, as defined in the respective leases. OFFICE LEASE EXPIRATIONS Cousins Properties 21 Q2 2026 Supplemental Information
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Tenant (2) Number of Properties Occupied Number of Markets Occupied Company's Share of Square Footage Company's Share of Annualized Rent ($ in thousands) (3) Percentage of Company's Share of Annualized Rent Weighted Average Remaining Lease Term (Years) 1 Amazon 5 3 1,461,805 $ 80,477 9.0% 5.5 2 Alphabet (4) 1 1 799,149 48,128 5.4% 11.6 3 NCR Voyix 2 2 815,634 43,982 4.9% 6.9 4 ExxonMobil 1 1 298,396 21,862 2.4% 6.5 5 IBM 1 1 319,863 18,982 2.1% 14.2 6 Expedia 1 1 315,882 17,603 2.0% 4.8 7 Apache 1 1 362,803 14,567 1.6% 12.5 8 Ovintiv USA (5) 1 1 318,582 13,868 1.5% 0.8 9 Barings 1 1 203,319 9,644 1.1% 5.3 10 Deloitte 4 3 193,751 9,337 1.0% 8.0 11 McGuireWoods LLP 2 2 176,498 8,685 1.0% 14.5 12 ADP 1 1 225,000 8,320 0.9% 1.8 13 BlackRock 1 1 131,656 7,898 0.9% 9.9 14 McKinsey & Company 3 3 138,532 7,358 0.8% 6.3 15 Smurfit Westrock 1 1 181,351 7,041 0.8% 3.8 16 Amgen 1 1 163,169 7,003 0.8% 2.3 17 Time Warner Cable 2 1 119,018 6,432 0.7% 2.3 18 Samsung (6) 1 1 133,860 6,376 0.7% 1.0 19 Workday, Inc. 1 1 131,952 6,342 0.7% 7.0 20 Allstate 1 1 148,262 6,327 0.7% 3.5 Total 6,638,482 $ 350,232 39.0% 6.4 (1) Excludes leases at properties held for sale as of June 30, 2026. (2) In some cases, the actual tenant may be an affiliate of the entity shown, and the entity shown may not be a guarantor of the obligations of that tenant. (3) Annualized Rent represents the annualized cash rent including the tenant's share of estimated operating expenses, if applicable, paid by the tenant as of June 30, 2026 . If the tenant was in a free rent period as of June 30, 2026 , Annualized Rent represents the annualized contractual rent the tenant will pay in the first month it is required to pay full cash rent. (4) Effective June 1, 2026, Alphabet began to self manage the property, including directly paying some operating expenses. As a result, operating expenses paid directly by Alphabet are no longer included in annualized rent. (5) In the third quarter of 2025, the Company proactively entered into an early termination agreement with Ovintiv. Approximately 88% of Ovintiv's premises were previously subleased and following Ovintiv's expiration on June 30, 2026, the subtenants became direct tenants. The above reflects these subtenants' remaining lease term as of June 30, 2026. (6) The weighted average lease term includes a second quarter 2026 eight year partial renewal of 11,000 square feet. TOP 20 OFFICE TENANTS (1) Cousins Properties 22 Q2 2026 Supplemental Information
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Percentage of Company's Share of Annualized Rent (1) Technology 28.8% Financial 14.0% Legal 10.0% Professional Services 9.1% Energy 6.7% Consumer Goods & Services 6.5%Real Estate 5.2%Other 5.1% Health Care 4.9% Insurance 4.8% Construction/Design 2.6% Marketing/Media/Telecom 2.3% (1) Annualized Rent represents the annualized cash rent including the tenant's share of estimated operating expenses, if applicable, paid by the tenant as of June 30, 2026. If the tenant was in a free rent period as of June 30, 2026, Annualized Rent represents the annualized contractual rent the tenant will pay in the first month the tenant is required to pay full rent. Note: Management uses SIC codes when available, along with their judgment, to determine tenant industry classification. This schedule includes leases that have commenced. Leases that have been signed but have not commenced and leases at properties held for sale as of June 30, 2026 are excluded. TENANT INDUSTRY DIVERSIFICATION Cousins Properties 23 Q2 2026 Supplemental Information
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Completed Operating Property Acquisitions Property Type Market Company's Ownership Interest Timing Square Feet Gross Purchase Price ($ in thousands) (1) 2026 300 South Tryon Office Charlotte 100% 1Q 638,000 $ 317,500 100 Mill (2) Office Phoenix 100% 2Q 288,000 18,500 2025 The Link Office Dallas 100% 3Q 292,000 218,000 2024 Proscenium Office Atlanta 20% 3Q 525,000 83,250 Sail Tower Office Austin 100% 4Q 804,000 521,800 Vantage South End Office Charlotte 100% 4Q 639,000 328,500 2022 Avalon (3) Office Atlanta 100% 2Q 480,000 43,400 2021 725 Ponce Office Atlanta 100% 3Q 372,000 300,200 Heights Union Office Tampa 100% 4Q 294,000 144,800 4,332,000 $ 1,975,950 Completed Property Developments Project Type Market Company's Ownership Interest Timing (4) Square Feet Total Project Cost ($ in thousands) (1) 2026 Neuhoff Commercial - Phase 1 Mixed Nashville 50% (5) 450,000 $ 306,000 Neuhoff Apartment Residential Nashville 50% 1Q 454,000 217,000 2025 Domain 9 Office Austin 100% 1Q 338,000 147,000 2022 300 Colorado Office Austin 100% 1Q 369,000 193,000 100 Mill (2) Office Phoenix 90% 4Q 288,000 156,000 2021 10000 Avalon (3) Office Atlanta 90% 1Q 251,000 96,000 120 West Trinity Mixed Atlanta 20% 2Q 353,000 89,000 Domain 10 Office Austin 100% 3Q 300,000 111,000 2,803,000 $ 1,315,000 (1) Except as otherwise noted, amounts represent total purchase prices, total project costs paid by the Company and, where applicable, its joint venture partner. (2) Developed 100 Mill as the majority partner in a 90-10 joint venture, HICO 100 Mill LLC. In 2026, we purchased the outside interest of 10% in HICO 100 Mill LLC for $18.5 million in a transaction that valued the property at $158.7 million. (3) Developed 8000 Avalon and 10000 Avalon as the majority partner in 90-10 joint ventures, HICO Avalon LLC and HICO Avalon II LLC, respectively. In 2022, we purchased the outside interest of 10% in HICO Avalon LLC and HICO Avalon II LLC for $43 million in a transaction that valued the properties at $302 million. (4) Represents timing of stabilization. (5) While construction is substantially complete, this operating property has not yet reached stabilization. INVESTMENT ACTIVITY Cousins Properties 24 Q2 2026 Supplemental Information
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Completed Operating Property Dispositions Property Type Market Company's Ownership Interest Timing Square Feet Gross Sales Price ($ in thousands) 2026 Harborview Plaza Office Tampa 100% 1Q 206,000 $ 39,500 Research Park V Office Austin 100% 2Q 173,000 42,000 2022 Carolina Square Mixed Charlotte 50% 3Q 468,000 105,000 (1) 2021 Burnett Plaza Office Fort Worth 100% 2Q 1,023,000 137,500 One South at the Plaza Office Charlotte 100% 3Q 891,000 271,500 Dimensional Place Office Charlotte 50% 3Q 281,000 60,800 (1) 816 Congress Office Austin 100% 4Q 435,000 174,000 3,477,000 $ 830,300 (1) Amount represents proceeds, before debt and other adjustments, received by the Company for the sale of its unconsolidated interest in the joint venture to its partner. INVESTMENT ACTIVITY Cousins Properties 25 Q2 2026 Supplemental Information
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Project Type Market Company's Ownership Interest Construction Start Date Square Feet/Units Estimated Project Cost ($ in thousands) Company's Share of Estimated Project Cost ($ in thousands) Project Cost Incurred to Date ($ in thousands) Company's Share of Project Cost Incurred to Date ($ in thousands) Percent Leased Initial Occupancy Estimated Stabilization The Company had no projects under active development as of June 30, 2026. DEVELOPMENT PIPELINE Cousins Properties 26 Q2 2026 Supplemental Information
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Market Company's Ownership Interest Financial Statement Presentation Total Developable Land (Acres) 3354/3356 Peachtree Atlanta 95% Consolidated 3.2 715 Ponce Atlanta 50% Unconsolidated 1.0 887 West Peachtree Atlanta 100% Consolidated 1.6 Domain Point 3 Austin 90% Consolidated 1.7 Domain Central Austin 100% Consolidated 5.6 South End Station Charlotte 100% Consolidated 3.4 303 Tremont (1) Charlotte 100% Consolidated 2.4 Legacy Union 2 & 3 Dallas 95% Consolidated 4.0 Neuhoff Commercial - Phase II (2) Nashville 50% Unconsolidated 1.4 Corporate Center 5 & 6 (3) Tampa 100% Consolidated 14.1 Total 38.4 Total Cost Basis of Land ($ in thousands) $ 234,286 Company's Share of Cost Basis of Land ($ in thousands) $ 191,742 (1) 303 Tremont is under contract for sale and is expected to close in the second half of 2026. (2) The cost basis for the Neuhoff Commercial - Phase II land site of $73 million includes costs related to initial parking and infrastructure work completed during the construction of Phase I, of which the Company's share is 50%. (3) Corporate Center 5 is controlled through a long-term ground lease. LAND INVENTORY Cousins Properties 27 Q2 2026 Supplemental Information
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Company's Share of Debt Maturities and Principal Payments ($ in thousands) Description (Interest Rate Base, if not fixed) Company's Ownership Interest Rate at End of Quarter Maturity Date (2) 2026 2027 2028 2029 2030 Thereafter Total Principal Original Issue Discount Deferred Loan Costs Total Consolidated Debt Consolidated Debt - Floating Rate Term Loan, Unsecured (SOFR + 0.800%) (3) 100% 4.420% 8/11/27 $ — $ 100,000 $ — $ — $ — $ — $ 100,000 $ — $ (20) $ 99,980 Term Loan, Unsecured (SOFR + 0.800%) (4) 100% 4.420% 3/3/28 — — 200,000 — — — 200,000 — (50) 199,950 Credit Facility, Unsecured (SOFR + 0.725%) (5) 100% 4.345% 4/1/31 — — — — — 167,000 167,000 — — 167,000 Total Consolidated Floating Rate Debt — 100,000 200,000 — — 167,000 467,000 — (70) 466,930 Consolidated Debt - Fixed Rate Colorado Tower 100% 3.450% 9/1/26 99,721 — — — — — 99,721 — — 99,721 201 North Tryon 100% 3.370% 10/1/26 116,941 — — — — — 116,941 — (6) 116,935 Privately Placed Senior Notes, Unsecured 100% 4.090% 7/6/27 — 100,000 — — — — 100,000 — (42) 99,958 Privately Placed Senior Notes, Unsecured 100% 3.780% 7/6/27 — 125,000 — — — — 125,000 — (62) 124,938 Term Loan, Unsecured (4) 100% 4.418% 3/3/28 — — 200,000 — — — 200,000 — (50) 199,950 Privately Placed Senior Notes, Unsecured 100% 3.860% 7/6/28 — — 250,000 — — — 250,000 — (224) 249,776 Privately Placed Senior Notes, Unsecured 100% 3.950% 7/6/29 — — — 275,000 — — 275,000 — (335) 274,665 Public Senior Notes, Unsecured (6) 100% 5.250% 7/15/30 — — — — 500,000 — 500,000 (53) — (3,401) 496,546 Terminus (7) 100% 6.340% 1/15/31 — — — — — 221,000 221,000 — (204) 220,796 Public Senior Notes, Unsecured (8) 100% 5.375% 2/15/32 — — — — — 400,000 400,000 (1,745) (2,813) 395,442 Public Senior Notes, Unsecured (9) 100% 4.875% 3/1/33 — — — — — 500,000 500,000 (3,568) (4,069) 492,363 Public Senior Notes, Unsecured (10) 100% 5.875% 10/1/34 — — — — — 500,000 500,000 (1,252) (4,704) 494,044 Total Consolidated Fixed Rate Debt 216,662 225,000 450,000 275,000 500,000 1,621,000 3,287,662 (6,618) (15,910) 3,265,134 Total Consolidated Debt 216,662 325,000 650,000 275,000 500,000 1,788,000 3,754,662 (6,618) (15,980) 3,732,064 Unconsolidated Debt Unconsolidated Debt - Floating Rate Neuhoff (SOFR + 3.000%) (11) 50% 6.630% 9/30/27 — 127,014 — — — — 127,014 — (124) 126,890 . Unconsolidated Debt - Fixed Rate Medical Offices at Emory Hospital 50% 4.800% 6/1/32 — — — — — 41,500 41,500 — (236) 41,264 Total Unconsolidated Debt — 127,014 — — — 41,500 168,514 — (360) 168,154 Total Debt $ 216,662 $ 452,014 $ 650,000 $ 275,000 $ 500,000 $ 1,829,500 $ 3,923,176 $ (6,618) $ (16,340) $ 3,900,218 Total Maturities (12) $ 215,159 $ 452,014 $ 650,000 $ 275,000 $ 500,000 $ 1,829,500 $ 3,921,673 % of Maturities 5 % 12 % 17 % 7 % 13 % 46 % 100 % Continued on next page DEBT SCHEDULE (1) Cousins Properties 28 Q2 2026 Supplemental Information
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($ in thousands) Debt Maturity Schedule as of June 30, 2026 (2) (12) $215,159 $452,014 $650,000 $275,000 $500,000 $388,000 $441,500 $500,000 $500,000 2026 2027 2028 2029 2030 2031 2032 2033 2034 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 1,000,000 Continued on next page DEBT SCHEDULE (1) Cousins Properties 29 Q2 2026 Supplemental Information Mortgages Unsecured Senior Notes $250M Mortgage $71 Construction Loan $125M Term Loan $100M Unsecured Senior Notes $225M Unsecured Senior Notes Mortgages $221M Unsecured Senior Notes $400M Unsecured Senior Notes Mortgage $42M Term Loan $400M Unsecured Senior Notes Credit Facility $207M Unsecured Senior Notes Construction Loan $127M Credit Facility $167M
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Floating and Fixed Rate Debt Analysis Total Principal ($ in thousands) Total Debt (%) Weighted Average Interest Rate Weighted Average Maturity (Years) (2) Floating Rate Debt $ 594,014 15 % 4.87 % 2.4 Fixed Rate Debt 3,329,162 85 % 4.90 % 4.5 Total Debt $ 3,923,176 100 % 4.89 % 4.2 (1) All amounts are presented at Company share. (2) Maturity dates shown assume the Company exercises all extensions available as of the date of this report. (3) The Company exercised the fifth of its six consecutive options to extend the maturity date of this term loan. This extension will become effective August 19, 2026, and will extend the maturity date to February 12, 2027. One additional six month extension option remains unexercised. The spread over SOFR at June 30, 2026, was 1.00%. In February 2026, the Company paid $150 million towards the principal of the term loan. In April 2026, the Company entered into the fourth amendment of the term loan agreement, which granted two additional 180 day extension options, extending the final maturity date to August 11, 2027, and updated the spread over SOFR of 1.00% to 0.80%. (4) The Company exercised the fourth of its six consecutive options to extend the maturity date of this term loan. This extension will become effective September 3, 2026, and will extend the maturity date to March 3, 2027. Two additional six month extension options remain unexercised. At the time of the third extension, the Company elected six month Term SOFR +0.85% for $200 million of the debt outstanding, fixing the underlying SOFR interest rate at 3.618% through September 3, 2026. In April 2026, we entered into second amendment to the delayed draw term loan, which granted two additional six month extension options, extending the final maturity date to March 3, 2028, and reducing the spread over SOFR of 0.85% to the spread over SOFR +0.80%. As of June 30, 2026, the spread over SOFR of the remaining $200 million of the term loan was 0.80%. (5) In April 2026, the Company entered into the sixth amendment to the Credit Facility, which increased the facility's capacity from $1.0 billion to $1.2 billion and extended the maturity date from April 30, 2027 to April 1, 2031. Additionally, the amendment reduced the spread over SOFR of 0.775% to the spread over SOFR of 0.725%. As of June 30, 2026, the Company had $167.0 million drawn under the Credit Facility and had the ability to borrow an additional $1.0 billion. (6) This note has a coupon of 5.25% with an effective rate of 5.251% including the original issue discount. (7) Represents $123.0 million and $98.0 million non-cross collateralized mortgages secured by the Terminus 100 and Terminus 200 buildings, respectively. (8) This note has a coupon of 5.375% with an effective rate of 5.464% including the original issue discount. (9) This note has a coupon of 4.875% with an effective rate of 5.001% including the original issue discount. (10) This note has a coupon of 5.875% with an effective rate of 5.912% including the original issue discount. (11) The Company's share of the total borrowing capacity of the construction loan is approximately $136.8 million. The maturity date of the construction loan is September 30, 2026, and the spread in excess of SOFR is 3.00%. The joint venture has an option to extend the maturity date an additional 12 months, subject to certain conditions. (12) Maturities include principal payments due at the maturity date. Maturities do not include scheduled principal payments due prior to the maturity date. DEBT SCHEDULE (1) Cousins Properties 30 Q2 2026 Supplemental Information
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Joint Venture Property Cash Flows to Cousins (2) Options Consolidated: TR Domain Point LLC Domain Point Preferred return on preferred equity contribution, then 96.5% of remaining cash flows. Partner has put options under various circumstances. Unconsolidated: AMCO 120 WT Holdings LLC 120 West Trinity 20% of cash flows. Cousins or partner can trigger a buyout upon which Cousins would receive the office component, and partner would receive the multifamily component, with a net settlement at a then agreed upon value. Crawford Long-CPI, LLC Medical Offices at Emory Hospital 50% of cash flows. Cousins can put its interest to partner, or partner can call Cousins' interest, at a value determined by appraisal. Neuhoff Holdings LLC Neuhoff 50% of cash flows until return of contributed capital to partners; portions of cash amounts received in excess of contributed capital to equity partners are paid to development partner as a promote. Cousins or its equity partner can trigger a sale process, subject to a right of first offer that can be exercised by the non-triggering party. TL CO Proscenium JV LLC Proscenium 20% of cash flows. Cousins' equity partner can trigger a sale process, subject to a right of first offer that can be exercised by Cousins. Additionally, Cousins has a put option under various circumstances. (1) This schedule only contains information related to joint ventures that hold an ownership interest in operating office buildings or projects under active development. (2) Each respective joint venture agreement may contain additional terms that affect the distribution of operating cash flows and capital transaction proceeds that are not yet effective, including the distribution of promoted interest. JOINT VENTURE INFORMATION (1) Cousins Properties 31 Q2 2026 Supplemental Information
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FFO and EBITDAre Net income (loss) available to common stockholders $ 45,962 $ 20,897 $ 14,483 $ 8,590 $ (3,467) $ 40,503 $ (24,856) $ 26,158 $ 1,302 Depreciation and amortization of real estate assets: Consolidated properties 364,584 101,996 100,769 105,152 106,954 414,871 108,267 104,699 212,966 Share of unconsolidated joint ventures 4,745 2,212 2,489 3,034 3,004 10,739 3,053 3,057 6,110 Partners' share of real estate depreciation (1,106) (274) (250) (241) (240) (1,005) (240) (101) (341) Operating property impairment — — — — 13,286 13,286 36,600 — 36,600 Loss (gain) on depreciated property transactions: Consolidated properties (101) — — — — — 47 (9,172) (9,125) Non-controlling interest related to unitholders 8 3 3 1 — 7 (4) 4 — FFO (1) 414,092 124,834 117,494 116,536 119,537 478,401 122,867 124,645 247,512 Interest Expense 126,960 38,763 40,753 44,327 45,106 168,949 47,834 49,699 97,533 Non-Real Estate Depreciation and Amortization 461 117 121 121 130 489 140 145 285 EBITDAre (1) 541,513 163,714 158,368 160,984 164,773 647,839 170,841 174,489 345,330 FFO and Net Operating Income from Unconsolidated Joint Ventures Loss from Unconsolidated Joint Ventures (2,796) (1,883) (1,587) (2,682) (2,007) (8,159) (2,642) (2,215) (4,857) Depreciation and Amortization of Real Estate Assets 4,745 2,212 2,489 3,034 3,004 10,739 3,053 3,057 6,110 FFO - Unconsolidated Joint Ventures 1,949 329 902 352 997 2,580 411 842 1,253 Interest Expense 4,484 1,989 2,239 2,830 2,650 9,708 2,733 2,635 5,368 Other Expense 316 (79) 62 99 102 184 259 101 360 Other Income (132) (16) (38) (25) (44) (123) (32) (43) (75) Net Operating Income - Unconsolidated Joint Ventures 6,617 2,223 3,165 3,256 3,705 12,349 3,371 3,535 6,906 Market Capitalization Common Stock Price Per Share at Period End $ 30.64 $ 29.50 $ 30.03 $ 28.94 $ 25.78 $ 25.78 $ 22.57 $ 29.98 $ 29.98 Number of Common Stock/Units Outstanding at Period End 167,685 167,933 167,992 167,990 168,007 168,007 164,566 164,627 164,627 Equity Market Capitalization 5,137,868 4,954,024 5,044,800 4,861,631 4,331,220 4,331,220 3,714,255 4,935,517 4,935,517 Consolidated Debt 3,095,666 3,020,741 3,476,761 3,309,383 3,340,815 3,340,815 3,772,182 3,732,064 3,732,064 Share of Unconsolidated Debt 178,722 182,735 183,847 165,737 166,205 166,205 166,568 168,154 168,154 Debt (1) 3,274,388 3,203,476 3,660,608 3,475,120 3,507,020 3,507,020 3,938,750 3,900,218 3,900,218 Total Market Capitalization 8,412,256 8,157,500 8,705,408 8,336,751 7,838,240 7,838,240 7,653,005 8,835,735 8,835,735 Credit Ratios Debt (1) 3,274,388 3,203,476 3,660,608 3,475,120 3,507,020 3,507,020 3,938,750 3,900,218 3,900,218 Less: Cash and Cash Equivalents (7,349) (5,330) (416,840) (4,675) (5,720) (5,720) (6,296) (6,699) (6,699) Less: Share of Unconsolidated Cash and Cash Equivalents (1) (6,821) (6,332) (4,448) (6,484) (5,633) (5,633) (6,333) (6,314) (6,314) Net Debt (1) 3,260,218 3,191,814 3,239,320 3,463,961 3,495,667 3,495,667 3,926,121 3,887,205 3,887,205 Total Market Capitalization 8,412,256 8,157,500 8,705,408 8,336,751 7,838,240 7,838,240 7,653,005 8,835,735 8,835,735 Net Debt / Total Market Capitalization 38.8 % 39.1 % 37.2 % 41.6 % 44.6 % 44.6 % 51.3 % 44.0 % 44.0 % Continued on next page 2024 2025 1st 2025 2nd 2025 3rd 2025 4th 2025 2026 1st 2026 2nd YTD 2026 NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS Cousins Properties 32 Q2 2026 Supplemental Information
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Total Assets - Consolidated 8,802,146 8,663,360 9,051,863 8,900,481 8,890,132 8,890,132 9,087,843 9,040,873 9,040,873 Accumulated Depreciation - Consolidated 1,821,559 1,893,215 1,982,700 2,045,711 2,120,930 2,120,930 2,164,229 2,134,798 2,134,798 Undepreciated Assets - Unconsolidated (1) 356,091 363,789 368,322 375,572 376,850 376,850 378,996 382,902 382,902 Less: Investment in Unconsolidated Joint Ventures (185,478) (191,505) (192,420) (215,507) (215,301) (215,301) (213,988) (212,792) (212,792) Total Undepreciated Assets (1) 10,794,318 10,728,859 11,210,465 11,106,257 11,172,611 11,172,611 11,417,080 11,345,781 11,345,781 Net Debt (1) 3,260,218 3,191,814 3,239,320 3,463,961 3,495,667 3,495,667 3,926,121 3,887,205 3,887,205 Net Debt / Total Undepreciated Assets (1) 30.2 % 29.7 % 28.9 % 31.2 % 31.3 % 31.3 % 34.4 % 34.3 % 34.3 % Coverage Ratios (1) Interest Expense 126,960 38,763 40,753 44,327 45,106 168,949 47,834 49,699 97,533 Scheduled Principal Payments 8,222 1,667 1,681 1,696 1,710 6,754 1,725 1,740 3,465 Fixed Charges 135,182 40,430 42,434 46,023 46,816 175,703 49,559 51,439 100,998 EBITDAre 541,513 163,714 158,368 160,984 164,773 647,839 170,841 174,489 345,330 EBITDAre / Fixed Charges (1) 4.01 4.05 3.73 3.50 3.52 3.69 3.45 3.39 3.42 Net Debt 3,260,218 3,191,814 3,239,320 3,463,961 3,495,667 3,495,667 3,926,121 3,887,205 3,887,205 Annualized EBITDAre (2) 632,139 654,856 633,472 643,936 659,092 659,092 694,096 697,956 697,956 Net Debt / Annualized EBITDAre 5.16 4.87 5.11 5.38 5.30 5.30 5.66 5.57 5.57 Dividend Information Common Dividends 199,679 53,732 53,746 53,746 53,754 214,978 52,646 52,672 105,318 FFO 414,092 124,834 117,494 116,536 119,537 478,401 122,867 124,645 247,512 FFO Payout Ratio 48.2 % 43.0 % 45.7 % 46.1 % 45.0 % 44.9 % 42.8 % 42.3 % 42.6 % Operations Ratio Total Undepreciated Assets (1) 10,794,318 10,728,859 11,210,465 11,106,257 11,172,611 11,172,611 11,417,080 11,345,781 11,345,781 General and Administrative Expenses 36,566 10,709 9,738 9,510 8,685 38,642 11,840 12,115 23,955 Annualized General and Administrative Expenses (2) / Total Undepreciated Assets 0.34 % 0.40 % 0.35 % 0.34 % 0.31 % 0.31 % 0.41 % 0.43 % 0.43 % Continued on next page 2024 2025 1st 2025 2nd 2025 3rd 2025 4th 2025 2026 1st 2026 2nd YTD 2026 NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS Cousins Properties 33 Q2 2026 Supplemental Information
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Net income (loss) available to common stockholders $ 45,962 $ 20,897 $ 14,483 $ 8,590 $ (3,467) $ 40,503 $ (24,856) $ 26,158 $ 1,302 Depreciation and amortization of real estate assets 368,223 103,934 103,008 107,945 109,718 424,605 111,080 107,655 218,735 Loss (gain) on depreciated property transactions (101) — — — — — 47 (9,172) (9,125) Operating property impairment — — — — 13,286 13,286 36,600 — 36,600 Non-controlling interest related to unitholders 8 3 3 1 — 7 (4) 4 — FFO (1) 414,092 124,834 117,494 116,536 119,537 478,401 122,867 124,645 247,512 Non-Cash Debt Amortization 4,068 1,056 997 1,290 1,188 4,531 1,229 1,511 2,740 Non-Cash Stock-Based Compensation 14,782 5,993 3,746 3,379 3,356 16,474 6,013 3,670 9,683 Non-Real Estate Depreciation and Amortization 461 117 121 121 130 489 140 145 285 Lease Inducement Amortization 2,169 531 267 938 650 2,386 431 698 1,129 Straight-Line Rent Ground Leases 470 118 118 72 100 408 99 (212) (113) Above and Below Market Ground Rent 240 52 53 52 125 282 71 70 141 Deferred Income - Tenant Improvements (28,598) (8,472) (8,947) (9,147) (9,353) (35,919) (9,522) (10,088) (19,610) Above and Below Market Rents, Net (6,167) (2,845) (2,828) (3,422) (3,514) (12,609) (4,104) (4,266) (8,370) Second Generation Capital Expenditures (CAPEX) (116,093) (33,281) (28,636) (29,981) (47,457) (139,355) (26,625) (35,914) (62,539) Straight-Line Rental Revenue (24,508) (12,477) (11,283) (9,424) (6,117) (39,301) (9,544) (6,861) (16,405) Land and Related Predevelopment Costs Impairment — — — — 1,034 1,034 — — — Loss on Sales of Undepreciated Investment Properties 3 — — — — — — — — FAD (1) 260,919 75,626 71,102 70,414 59,679 276,821 81,055 73,398 154,453 Weighted Average Shares - Diluted 154,015 168,593 168,765 168,738 168,770 168,716 167,681 165,292 166,486 FAD per share $ 1.69 $ 0.45 $ 0.42 $ 0.42 $ 0.35 $ 1.64 $ 0.48 $ 0.44 $ 0.93 Common Dividends on outstanding shares 199,679 53,732 53,746 53,746 53,754 214,978 52,646 52,672 105,318 Common Dividends per share $ 1.28 $ 0.32 $ 0.32 $ 0.32 $ 0.32 $ 1.28 $ 0.32 $ 0.32 $ 0.64 FAD Payout Ratio 76.5 % 71.0 % 75.6 % 76.3 % 90.1 % 77.7 % 65.0 % 71.8 % 68.2 % 2nd Generation CAPEX Second Generation Leasing Costs 86,829 24,789 21,475 18,944 36,482 101,690 16,863 25,836 42,699 Second Generation Building Improvements 29,264 8,492 7,161 11,037 10,975 37,665 9,762 10,078 19,840 116,093 33,281 28,636 29,981 47,457 139,355 26,625 35,914 62,539 (1) Includes the Company's share of unconsolidated joint ventures. These amounts are derived from the amounts in the categories indicated that are recorded at the joint venture multiplied by the Company's ownership interest. The Company does not control the operations of the unconsolidated joint ventures but believes that including these amounts in the categories indicated is meaningful to investors and analysts. (2) Amounts represent most recent quarter annualized with the exception of annualized EBITDAre, which includes adjustments to reflect a full year of NOI from operating properties acquired during the most recent quarter. Note: Amounts may differ slightly from other schedules contained herein due to rounding. 2024 2025 1st 2025 2nd 2025 3rd 2025 4th 2025 2026 1st 2026 2nd YTD 2026 NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS Cousins Properties 34 Q2 2026 Supplemental Information
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FUNDS FROM OPERATIONS (in thousands, except per share amounts) Three Months Ended June 30, 2026 2025 Dollars Weighted Average Common Shares Per Share Amount Dollars Weighted Average Common Shares Per Share Amount Net Income Available to Common Stockholders $ 26,158 164,561 $ 0.16 $ 14,483 167,930 $ 0.09 Noncontrolling interest related to unitholders 4 25 — 3 25 — Conversion of unvested restricted stock units — 706 — — 810 — Net Income — Diluted 26,162 165,292 0.16 14,486 168,765 0.09 Depreciation and amortization of real estate assets: Consolidated properties 104,699 — 0.63 100,769 — 0.60 Share of unconsolidated joint ventures 3,057 — 0.02 2,489 — 0.01 Partners' share of real estate depreciation (101) — — (250) — — Gain on investment property transactions (9,172) — (0.06) — — — Funds From Operations $ 124,645 165,292 $ 0.75 $ 117,494 168,765 $ 0.70 Continued on next page NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS Cousins Properties 35 Q2 2026 Supplemental Information
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(in thousands, except per share amounts) Six Months Ended June 30, 2026 2025 Dollars Weighted Average Common Shares Per Share Amount Dollars Weighted Average Common Shares Per Share Amount Net Income Available to Common Stockholders $ 1,302 165,685 $ 0.01 $ 35,380 167,870 $ 0.21 Noncontrolling interest related to unitholders — 25 — 6 25 — Conversion of unvested restricted stock units — 776 — — 784 — Net Income — Diluted 1,302 166,486 0.01 35,386 168,679 0.21 Depreciation and amortization of real estate assets: Consolidated properties 212,966 — 1.27 202,765 — 1.20 Share of unconsolidated joint ventures 6,110 — 0.04 4,701 — 0.03 Partners' share of real estate depreciation (341) — — (524) — — Gain on investment property transactions (9,125) — (0.05) — — — Operating property impairment 36,600 — 0.22 — — — Funds From Operations $ 247,512 166,486 $ 1.49 $ 242,328 168,679 $ 1.44 The tables above show FFO and the related reconciliation from Net Income Available to Common Stockholders for Cousins Properties Incorporated and Subsidiaries. See page 39 for definition of FFO. NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS Cousins Properties 36 Q2 2026 Supplemental Information
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($ in thousands) ($ in thousands) Three Months Ended Six Months Ended Net Operating Income June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net income $ 26,234 $ 14,658 $ 1,564 $ 35,751 Net operating income from unconsolidated joint ventures 3,535 3,165 6,906 5,388 Fee income (2,267) (494) (3,512) (990) Termination fee income (2,239) — (4,070) (2,866) Other income (547) (1,919) (1,303) (8,724) Reimbursed expenses 172 119 292 296 General and administrative expenses 12,115 9,738 23,955 20,447 Interest expense 47,064 38,514 92,165 75,288 Operating property impairment — — 36,600 — Depreciation and amortization 104,845 100,890 213,251 203,004 Other expenses 389 443 827 865 Loss from unconsolidated joint ventures 2,215 1,587 4,857 3,470 Gain on investment property transactions (9,172) — (9,125) — Net Operating Income 182,344 166,701 362,407 331,929 Less: Partners' share of NOI from consolidated joint ventures (192) (450) (645) (920) Cousins' share of NOI $ 182,152 $ 166,251 $ 361,762 $ 331,009 Net Operating Income $ 182,344 $ 166,701 $ 362,407 $ 331,929 Non-cash income (20,252) (22,563) (43,017) (46,315) Non-cash expense (36) 227 192 501 Cash-Basis Net Operating Income $ 162,056 $ 144,365 $ 319,582 $ 286,115 Net Operating Income Same Property $ 155,508 $ 152,450 $ 310,851 $ 305,422 Non-Same Property 26,836 14,251 51,556 26,507 $ 182,344 $ 166,701 $ 362,407 $ 331,929 Cash-Basis Net Operating Income Same Property $ 140,691 $ 132,835 $ 278,631 $ 263,808 Non-Same Property 21,365 11,530 40,951 22,307 $ 162,056 $ 144,365 $ 319,582 $ 286,115 NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS Cousins Properties 37 Q2 2026 Supplemental Information
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RECONCILIATION OF 2026 PROJECTED NET INCOME AVAILABLE TO COMMON STOCKHOLDERS TO 2026 PROJECTED FFO Full Year 2026 Guidance (in thousands, except per share amounts) Low High Dollars Per Share Amount (1) Dollars Per Share Amount (1) Net Income Available to Common Stockholders $ 14,860 $ 0.08 $ 24,861 $ 0.14 Add: Noncontrolling interest related to unitholders 2 — 4 — Net Income 14,862 0.08 24,865 0.14 Add: Depreciation and amortization of real estate assets 444,506 2.67 444,506 2.67 Add: Operating property impairment 36,600 0.22 36,600 0.22 Subtract: Gain on investment property transactions (9,125) (0.05) (9,125) (0.05) Funds From Operations $ 486,843 $ 2.92 $ 496,846 $ 2.98 (1) Calculated based on projected weighted average shares outstanding of 166.7 million. R2 Weight Average Shares 166,727 24.57 NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS Cousins Properties 38 Q2 2026 Supplemental Information
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The Company uses non-GAAP financial measures in its filings and other public disclosures. The following lists non-GAAP financial measures that the Company commonly uses, a description for each measure, the reasons that management believes the measure is useful to investors and, if material, additional uses of the measure by management of the Company. “Cash-Basis Net Operating Income” represents Net Operating Income excluding straight-line rents, amortization of lease inducements, amortization of acquired above and below market rents, and non-cash ground lease expense. “EBITDAre” is a supplemental operating performance measure used in the real estate industry. The Company calculates EBITDA re in accordance with the Nareit definition, which is net income (loss) available to common stockholders (computed in accordance with GAAP) plus interest expense, income tax expense, depreciation and amortization, losses (gains) on the disposition of depreciated property, and impairment of depreciated property. All additions include the Company's share of unconsolidated joint ventures. Management believes that EBITDAre provides analysts and investors with uniform and appropriate information to use in various ratios that evaluate the Company's level of debt. "Funds Available for Distribution” (“FAD”) represents FFO adjusted to exclude the effect of non-cash items and transaction costs and include deductions for second generation Capital Expenditures ("CAPEX"). Management believes that FAD provides analysts and investors with information that assists in the comparability of the Company's dividend policy with other real estate companies. “Funds From Operations” (“FFO”) is a supplemental operating performance measure used in the real estate industry. The Company calculates FFO in accordance with the Nareit definition: net income (loss) available to common stockholders (computed in accordance with GAAP), excluding depreciation and amortization related to real estate, gains and losses from sales of depreciable property, gains and losses from changes in control, impairment of depreciable real estate and after adjustments for unconsolidated partnerships and joint ventures to reflect FFO on the same basis. FFO is used by industry analysts and investors as a supplemental measure of an equity REIT's operating performance. Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values instead have historically risen or fallen with market conditions, many industry investors and analysts have considered presentation of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. Thus, Nareit created FFO as a supplemental measure of REIT operating performance that excludes historical cost depreciation, among other items, from GAAP net income. Management believes that the use of FFO, combined with the required primary GAAP presentations, has been fundamentally beneficial, improving the understanding of operating results of REITs among the investing public and making comparisons of REIT operating results more meaningful. Company management evaluates operating performance in part based on FFO. Additionally, the Company uses FFO and FFO per share, along with other measures, as a performance measure for incentive compensation to its officers and other key employees. “Net Debt” represents the Company's consolidated debt plus the Company's share of unconsolidated debt, less consolidated cash and cash equivalents and our share of unconsolidated cash and cash equivalents. The Company believes excluding cash and cash equivalents from total debt provides an estimate of the net contractual amount of borrowed capital to be repaid, which it believes is a beneficial disclosure to investors and analysts. “Net Operating Income” ("NOI") is used by industry analysts, investors, and Company management to measure operating performance of the Company's properties. NOI, which is rental property revenues (excluding termination fee income) less rental property operating expenses, excludes certain components from net income in order to provide results that are more closely related to a property's results of operations. Certain items, such as interest expense, while included in FFO and net income, do not affect the operating performance of a real estate asset and are often incurred at the corporate level as opposed to the property level. As a result, management uses only those income and expense items that are incurred at the property level to evaluate a property's performance. Depreciation, amortization, gains or losses on sales of depreciated investment assets, and impairment are also excluded from NOI for the reasons described under FFO. “Same Property Net Operating Income” represents Net Operating Income or Cash-Basis Net Operating Income for those operating office properties that were stabilized and owned by the Company for the entirety of all comparable reporting periods presented. Same Property Net Operating Income or Cash-Basis Same Property Net Operating Income allows analysts, investors, and management to analyze continuing operations and evaluate the growth trend of the Company's portfolio. “Second Generation Leasing Costs" and "Second Generation Building Improvements” is used in the valuation and analysis of real estate. Because the Company develops and acquires properties, in addition to operating existing properties, its property acquisition and development expenditures included in the Statements of Cash Flows includes both initial costs associated with developing and acquiring investment assets and those expenditures necessary to lease, operate, and maintain existing properties at historic performance levels. The latter costs are referred to as second generation costs and are useful in evaluating the economic performance of the asset and in valuing the asset. Accordingly, the Company discloses the portion of its property acquisition and development expenditures that pertain to second generation space in its operating properties. The Company excludes from second generation leasing costs for vacant space in newly acquired buildings, leasing costs for spaces that have been vacant for one year or more, building improvements on newly acquired buildings that management identifies as necessary to bring the building to the Company's operational standards, and building improvements associated with properties identified as under redevelopment or repositioning. In addition, the Company excludes building improvements intended to attract tenants to increase revenues and/or occupancy rates. NON-GAAP FINANCIAL MEASURES - DEFINITIONS Cousins Properties 39 Q2 2026 Supplemental Information