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Douglas Emmett INVESTOR OVERVIEW JUNE 30 , 2026 LANDMARK 2-10 STUDIO PLAZA T
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1 www.douglasemmett.com Douglas Emmett (DEI) Overview Sharpshooter Focus & Best-in-Class Operating Platform Focused Strategy ✓ High barriers to entry reduce competitive pressures from new supply ✓ Proximity to premier housing markets attracts affluent tenants ✓ Small affluent tenants in diverse industries mitigate risk and reduce volatility ✓ Dominant market share creates leasing and operational synergies Fully-Integrated Operating Platform ✓ Includes in-house leasing, space planning, legal, construction and design ✓ Major competitive advantage with our small affluent tenants ✓ Lowers operating, G&A, leasing and tenant improvement costs Strong Internal and External Growth ✓ Better long-term rent growth and less volatility than other gateway markets ✓ Our leases benefit from strong 3% to 5% annual rent increases ✓ Strong portfolio growth since IPO: office up 58% and multifamily up 90% ✓ Ample residential development opportunities within existing portfolio The Landmark Los Angeles
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2 www.douglasemmett.com DEI Portfolio Snapshot 8484 Wilshire Beverly Hills Landmark II Brentwood Studio Plaza Burbank The Shores Santa Monica Our Properties are Located in Premium Los Angeles and Honolulu Markets Office Portfolio 18.2M SF / 78% of Total Annual Rent Multifamily Portfolio 4,410 Units / 22% of Total Annual Rent Portfolio Total Annual Rent L.A. Westside 65% L.A. Valley 23% Honolulu 12% L.A. Westside 1,904 Units 9 Properties Honolulu 2,506 Units 4 Properties L.A. Westside 10.2 M SF 57 PropertiesL.A. Valley 6.8 M SF 16 Properties Honolulu 1.2 M SF 2 Properties
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3 www.douglasemmett.com Douglas Emmett by the Numbers Los Angeles County Economic Highlights ▪ Founded 55 years ago in 1971 ▪ Approximately 39% average market share of Class A office space in our regions ▪ Largest office landlord in Los Angeles and Honolulu ▪ Approximately 2,800 offices leases in our total portfolio, with a median size of approximately 2,400 square feet ▪ Total capitalization of approximately $7 billion ▪ Annual revenues of approximately $1 billion ▪ Approximately 750 employees ▪ Annualized 2026 dividend of $.76 per share ▪ Ranks 3rd among the world’s cities, with GDP exceeding $1 trillion, behind only Tokyo and New York ▪ Population of approximately 10,000,000, more than 43 states ▪ World entertainment capital, with more than 200,000 employed ▪ Largest U.S. tech center, with over 350,000 jobs, more than Silicon Valley ▪ Largest U.S. manufacturing center, with more than 365,000 employed ▪ Largest U.S. Port, LA/Long Beach handles 1/3rd of all containerized US imports ▪ World’s largest higher education concentration, with more than 112 colleges and research universities, which produce more Ph.D.s and graduate degrees than any other county in America ▪ Diverse vibrant industries, such as international trade, entertainment, tourism, technology, education, healthcare services and manufacturing Executive Tower Olympic Corridor One Westwood Westwood
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4 www.douglasemmett.com
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5 www.douglasemmett.com ✓ Restrictive zoning laws and Proposition U (density limits) ✓ Potent community “NIMBY” anti-growth sentiment Highest Barriers to Entry & Lowest New Construction of Any Gateway Market New office development in our Core L.A. submarkets is effectively shut down by: Historical Office Construction 3.0% 12.8% 15.7% 29.8% 34.2% 0% 5% 10% 15% 20% 25% 30% 35% DEI Submarkets San Francisco Midtown Manhattan D.C. Boston Total New Supply Added as % of Existing Stock Since 2009
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6 www.douglasemmett.com Santa Monica $6.6M Brentwood $6.1M Olympic Corridor Westwood Century City Beverly Hills $7.5M Bel Air $7.1M Holmby Hills $60M Downtown $700K Playa Vista $2.8M Hollywood $1.5M L.A.’s Heavy Traffic Limits Competition from Other Submarkets (1) Represents avg. sales price for single family homes sold during the prior year (as of 1/1/26) (2) Downtown average price includes condo sales due to lack of single family housing inventory Avg. daily one way commute to DEI market Avg. daily one way commute to non DEI market Wilshire Blvd
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7 www.douglasemmett.com $0.90 $0.95 $1.00 $1.05 $1.10 $1.15 $1.20 $1.25 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 3.5% annual rent increases on initial 5-Yr lease 3.5% annual rent increases on renewal 5-Yr lease 3% Cash Roll Down Limited New Supply Drives Consistent Rent Growth with Minimal Volatility ✓ Almost all of our office leases contain contractual annual rent increases of 3% to 5%, which: ▪ Protects our cash flow during downturns ▪ Can accelerate cash flow growth during expansions In the example above, the renewal lease has a starting rent 3% below the prior ending rent, but an overall value 10% higher due to 3.5% annual rent increases. ▪ Allows us to lower starting rents during challenging periods while still increasing the overall value of the lease: Average Rent Renewal Lease Average Rent Initial Lease 10% increase in lease value even with 3% cash roll down Consistently High Annual Rent Escalations
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8 www.douglasemmett.com $20 $25 $30 $35 $40 $45 $50 $55 $60 $65 $70 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 Average "Class A" Asking Rent per Year in Douglas Emmett West L.A. Submarkets 3 year Growth +64% CAGR +18% 5 year Growth +62% CAGR +10% 9 year Growth +50% CAGR +5% Consistent Rent Growth through Three Down Cycles and 28 Years Source: CoStar/CBRE. 1995 data estimated. *The best CAGR among all major U.S. gateway markets. 2007 Peak 38% above 2000 peak 2010 Trough 10% above 2000 peak 2019 Peak 19% above 2007 peak 2020 Trough 12% above ‘07 peak 172% growth 3.4% Compounded Annual Growth Over The Last 30 Years
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9 www.douglasemmett.com Source: Co-Star. * First year of available data for all of the markets, period ending 6/30/2025 Volatility is measured as the average difference between peak and trough rent over two cycles 2000 – 2004, and 2007 - 2012 West LA data includes DEI submarkets Beverly Hills, Brentwood, Century City, Olympic Corridor, Santa Monica and Westwood West Los Angeles Has the Best Long Term Growth and Less Volatility Better Rent Growth Lower Volatility Risk -45% -26% -26% -18% -4% -50% -25% 0% 25% San Francisco Boston Midtown Manhattan DEI West L.A. D.C. Average Peak to Trough Decline Since 1998* 27% 66% 89% 91% 111% -5% 15% 35% 55% 75% 95% 115% San Francisco Midtown Manhattan Boston D.C. DEI West L.A. Cumulative Rent Growth Since 1998*
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10 www.douglasemmett.com 2,710 83 23 1 0 500 1,000 1,500 2,000 2,500 3,000 Under 20,000 SF 20,001 to 40,000 SF 40,001 to100,000 SF Over 100,000 SF Number of Leases Square Footage of Lease 96% Small Affluent Tenants in Diverse Industries ✓ The tenant decision maker typically works in our suite and lives nearby, so the significant personal impact makes moving less likely ✓ Rent is typically a very small portion of the tenant’s revenues and not the paramount factor in their leasing decision ✓ Our targeted smaller tenants are willing to pay premium for proximity of home and office and need lower tenant improvement costs Diverse Tenant Industry Mix Small Tenant Size Median tenant size of only 2,400 SF Legal 19.9% Financial Services 16.0% Real Estate 13.7% Health Services 11.6% Entertainment 9.3% Accounting & Consulting 9.0% Retail 5.9% Tech 4.4% Insurance 2.9% Other 7.3%
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11 www.douglasemmett.com No Significant Large Tenant Rollover Risk ✓ Consistent annual lease expirations of between 11% and 15% limits our exposure in any single year (1) Average of the percentage of leases at June 30, 2023, 2024, and 2025 with the same remaining duration as the leases for the labeled year had at June 30, 2026. Acquisitions are included in the prior year average commencing in the quarter after the acquisition. Consistent Lease Expirations Schedule 0% 10% 20% 30% 40% 50% 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036+ At Jun 30, 2026 Comparable curve based on the average of prior three years (1)
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12 www.douglasemmett.com G&A Expense as Percent of NOI (1) Recurring TI, LC and Capex as Percent of NOI(1) (1) Q1 2015 through Q1 2026. Benchmark Group include BXP, HPP, KRC, SLG, and VNO. ✓ Our unsurpassed tenant service is a key advantage in handling a very large number of small, affluent tenants ✓ Our in-house leasing agents and lawyers execute about 3 office leases and 9 residential leases each business day ✓ Our average tenant moves into occupancy less than four months after signing a letter of intent ✓ Our internal tenant improvement, design and construction team standardizes build outs and compresses vacancy time, resulting in lower costs and easier transitions for tenants inexperienced in office build-outs ✓ By keeping our G&A and recurring leasing costs low, we typically converted between 12% and 20% more of our NOI into cash flow than our Benchmark Group. Lower G&A and Tenant Turnover Costs Efficient Management and Overhead Efficient Operating Model 6.9% 18.0% 0% 5% 10% 15% 20% DEI Benchmark Group G&A savings allow us to convert an extra 11% of NOI to cash flow 14.5% 21.0% 0% 5% 10% 15% 20% DEI Benchmark Group Capex savings allow us to convert an extra 6.4% of NOI to cash flow
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13 www.douglasemmett.com ✓ We own 15 multifamily properties with 4,410 units in service and another 1,035 units in development. All are located in high-barrier premium markets in West Los Angeles and Honolulu ✓ Our apartment communities command premium rents and produce above average operating margins 1. DEI Los Angeles portfolio & Benchmark data based on average of 2025 reported same store data from: AVB, CPT, EQR, ESS, and UDR. 2. DEI & Benchmark data based on average of 2014 -2025 reported same store data from: AVB, CPT, EQR, ESS, and UDR. Premiere Multifamily Assets Premium Properties Efficient Management and Overhead The Landmark Los Angeles $2,713 $4,770 $500 $1,500 $2,500 $3,500 $4,500 Revenue per Unit1 Benchmark Group DEI L.A. 68.5% 72.2% 64% 66% 68% 70% 72% Operating Margin 2 DEIBenchmark Group
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14 www.douglasemmett.com ✓ We only use property level, non-recourse debt without corporate or rating agency covenants ✓ We set leverage at levels that merit best pricing from banks and insurance companies Non Recourse Debt, Best Pricing from Lenders and Refinancing Flexibility (1) Includes our share of debt ✓ We were one of only a few REITs which was not forced to issue dilutive equity during the global financial crisis ✓ Our average cost of debt is regularly below our benchmark group Upcoming Debt Maturities (1) Our Approach The Results $366 $338 $620 $428 $1,990 $17 $535 $375 $0 $500 $1,000 $1,500 $2,000 $2,500 2026 2027 2028 2029 2030 2031 2032 2033+ ($ in millions) as of 6/30/26
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15 www.douglasemmett.com Goal Status To keep at least 80% of our stabilized eligible office space “ENERGY STAR Certified” by the E.P.A. Exceeded ✓ More than 90% of our eligible office space qualified for “ENERGY STAR Certification” as of December 2025. Meaning they perform in the top 25% of all office buildings measured by the E.P.A. To reduce our greenhouse gas emissions by 30% across our portfolio by 2035 as compared to 2019. Ahead of schedule ✓ Through December 31, 2025, we have reduced our GHG emissions by 28% versus 2019 Our long-term focus on energy savings has resulted in a very efficient portfolio. All of our buildings save energy through LED lighting, automated energy management systems and real time energy usage software. We continue to improve on this strong foundation. In addition to short term goals for individual buildings, we have set two key long-term sustainability targets for the company: Our Sustainability Programs are Both Socially Responsible and Good Business
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16 www.douglasemmett.com Our Promises Every new employee is given a copy of the Douglas Emmett Promises, a set of 15 key commitments that we strive to embody each day. Strong Ethics We insist that our directors and employees conduct themselves in accordance with the highest moral and ethical standards, informed by a robust Code of Business Conduct and Ethics. Fairness We are committed to ensuring a fair workplace for our employees as well as partners with whom we do business. We have strict policies to protect against discrimination and harassment. Communication We maintain an Open-Door Policy to encourage communication to resolve any employee concerns; employees can also contact members of our board or use an anonymous hotline. Ownership To empower our team members to act and feel like owners, we provide equity compensation to many of our employees. Benefits We avoid the use of independent contractors or part time employees to provide our essential services; except at the request of the employee, all of our employees work full- time with full benefits. Our Human Relationships are Our Most Valuable Assets We strive to create an environment which honors our employees, tenants and vendors:
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17 www.douglasemmett.com Our Team Reflects Our Diverse Communities *Represents the local labor force in Los Angeles and Honolulu Counties, weighted by the proportion of our employees in each county 29% 71% 38% 12% 10% 3% 8% 43% 57% 29% 71% 39% 19% 7% 0% 3% 46% 54% 0% 25% 50% 75% 100% White (non Latino/Hispanic) Other Races/Ethnicity Latino/Hispanic Asian Black or African American All other races Two or more races Female Male Douglas Emmett Employees Local Labor Force* 48% 52% 19% 21% 7% 1% 9% 52% 48% 0% 25% 50% 75% 100% White (non Latino/Hispanic) Other Races/Ethnicity Latino/Hispanic Asian Black or African American All other races Two or more races Female Male Our Management Team
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18 www.douglasemmett.com Jordan L. Kaplan ▪ Chairman of the Board and Chief Executive Officer – Douglas Emmett, Inc. Kenneth M. Panzer ▪ President and Chief Operating Officer – Douglas Emmett, Inc. Andy Cohen, FAIA ▪ Global Co-Chair of Gensler Dorene C. Dominguez ▪ Chairwoman and CEO of Vanir Group of Companies Virginia A. McFerran ▪ Technology and Data Science Advisor Thomas E. O’Hern ▪ Former Chief Executive Officer, Macerich William E. Simon Jr. ▪ Partner Emeritus, Simon Quick Advisors Shirley Wang ▪ Founder and CEO, Plastpro Inc. Officer Position Jordan L. Kaplan Chairman & Chief Executive Officer Kenneth M. Panzer President & Chief Operating Officer Peter D. Seymour Chief Financial Officer Kevin A. Crummy Chief Investment Officer Michele L. Aronson EVP, General Counsel and Secretary Executive Management Board of Directors Highly Experienced Leadership Team
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19 www.douglasemmett.com This profile is not intended to be a complete statement of all of the material facts concerning our company or to solicit purchase of, or to be used to evaluate, any securities. The use of “we” and “our” in this profile refers to Douglas Emmett, Inc., our operating partnership and its subsidiaries, as well as our consolidated JV’s and our unconsolidated Funds. Unless otherwise indicated, all data about us is as of the date on the front cover. This Profile should be read in conjunction with the detailed financial information contained in our quarterly earning packages and in our filings with the Securities and Exchange Commission, all of which are available on www.douglasemmett.com or www.sec.gov Except for the historical facts, the statements are forward-looking statements based on the beliefs of, assumptions made by and information currently available to us. Some will inevitably prove to be incorrect. Potential investors should read and carefully consider all of the information in our filings with the Securities and Exchange Commission. For a discussion of some risks and uncertainties that could cause actual results to differ from those contained in any forward-looking statements, see “Risk Factors” in our Annual Report on Form 10-K. Copies can also be viewed at www.douglasemmett.com or www.sec.gov. Additional Information: Please contact Stuart McElhinney, Vice President-Investor Relations at (310) 255-7751 or via email at smcelhinney@douglasemmett.com Updates, financial information and additional property information can be obtained at www.douglasemmett.com.