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NEWS RELEASE FOR IMMEDIATE RELEASE Investor Inquiries : Leah Andress Brady Director , Investor Relations 301.998.8265 Ibrady@federalrealty.com FEDERAL 1962 www.federalrealty.com Media Inquiries : Brenda Pomar Director , Corporate Communications 301.998.8316 bpomar@federalrealty.com Federal Realty Investment Trust Announces Second Quarter 2021 Operating Results NORTH BETHESDA , Md . ( August 4 , 2021 ) - Federal Realty Investment Trust ( NYSE : FRT ) today reported operating results for its second quarter ended June 30 , 2021. For the three months ended June 30 , 2021 and 2020 , net income available for common shareholders was $ 0.57 per diluted share and $ 0.11 per diluted share , respectively . Highlights for the quarter and subsequent events include : • • • Generated funds from operations available to common shareholders ( FFO ) per diluted share of $ 1.41 for the quarter compared to $ 0.77 for the second quarter 2020 . Record levels of leasing activity with 124 signed leases for 558,490 square feet of comparable space during second quarter and 227 signed leases for 1.1 million square feet of comparable space through the first six months of 2021 . Federal Realty's portfolio was 92.7 % leased , a sequential increase of 90 basis points . о 310 basis point spread between leased and occupied Acquired 4 assets which total 1.76 million square feet on 125 acres of land at a gross value of $ 407 million , of which Federal owns an average 80 % interest . Increased the regular quarterly cash dividend to $ 1.07 per common share , resulting in an indicated annual rate of $ 4.28 per common share . This increase represents the 54th consecutive year that Federal Realty has increased its common dividend , the longest record of consecutive annual dividend increases in the REIT sector . Increased 2021 earnings per diluted share guidance to $ 1.91 to $ 2.01 and increased 2021 FFO per diluted share guidance to $ 5.05 to $ 5.15 . Increased 2022 earnings per diluted share guidance to $ 1.99 to $ 2.19 and increased 2022 FFO per diluted share guidance to $ 5.30 to $ 5.50 . " Our team delivered an outstanding quarter exceeding all our of internal forecasts , " said Donald C. Wood , Chief Executive Officer . " Our all - time high leasing volumes with best - in - class , relevant tenants coupled with our new acquisitions and existing development pipeline set our company and our assets up to be more dominant , more relevant and therefore more valuable in a post - COVID world . " 3