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FOR IMMEDIATE RELEASE Contact : Brendan Maiorana Highwoods PROPERTIES Ref : 21-09 Executive Vice President of Finance and Treasurer brendan.maiorana@highwoods.com 919-872-4924 Highwoods Reports First Quarter 2021 Results $ 0.52 Net Income per Share $ 0.91 FFO per Share Signed 553,000 SF of 2nd Gen Office Leases Includes 247,000 SF of New Leases Achieved 8.1 % GAAP Rent Growth and 0.5 % Cash Rent Growth 89.6 % Occupancy at Quarter - End Placed in Service $ 108 Million of 100 % Leased Development Two Buildings , 345,000 SF , Both in Raleigh Current Development Pipeline $ 394M , 75 % Pre - Leased Updates 2021 FFO Outlook to $ 3.54 to $ 3.66 per Share Previously $ 3.50 to $ 3.66 per Share Excludes Impact of Planned Investment Activity Raises Same Property Cash NOI Growth Outlook to 3.50 % to 5.25 % - RALEIGH , NC – April 27 , 2021 - Highwoods Properties , Inc. ( NYSE : HIW ) today reported its first quarter 2021 financial and operating results . Ted Klinck , President and Chief Executive Officer , stated “ Even with the ongoing pandemic , we are pleased with our operating and financial performance during the first quarter . We're seeing more customers return to their offices or announce plans to come back . Leasing activity improved as highlighted by our new leasing volume , which rebounded sharply and was roughly in line with our long- term average prior to the beginning of the pandemic . We delivered solid FFO and our same property cash NOI growth was robust at 5.7 % , demonstrating the continued strengthening of our cash flows . We placed in service two 100 % -leased development properties with a total investment of $ 108 million . Our remaining $ 394 million development pipeline is 75 % pre - leased and will provide meaningful NOI as the projects deliver over the next several quarters .