Cousins Properties Incorporated : May 2025 Investor Presentation

Published: 2025-05-05 22:03:25 ET CUZ

Published on 05/05/2025 at 22:03

WHY COUSiNS?

1OO% Sun Belt / 1OO% Class A / 2O11 average year built'

6g% o( portfolio delivered or redeveloped since 2O1

2

CUZ asking rents 16% higher than pre-pandemic levels and 24% higher than Class A avg"^

PREMIER SUN BELT LIFESTYLE OFFICE PORTFOLIO

BENEFITING FROM POWERFUL OFFICE TRENDS

Flight to quality clriving c!emanc! for newer, Fig fly-amenitizec! assets5

Sun Belt migration leaching to outsized population and job g rowth^

Recorc! low grounclbreakings shoulcl create shortage of new, high-quality office space7

POSITIONED FOR ORGANIC GROWTH

Woclest lease expirations well below office sector average

Near-term occupancy upsicle from recent success backfilling prior move-outs

Rollecl-up cash rents g.g% on average over the past five years'°

STRATEGIC CAPITAL ALLOCATION CREATES GROWTH OPPORTUNITIES

Recyclecl approximately $1.2 billion of olc!er assets cluring COVI D panc!emic'°

Sources! over $1 billion of compelling new investment opportunities in 2O2zt'°

Attractive clevelopment pipeline of g 6K SF" ancl lane! bank supporting se MM SF'2

BALANCE SHEET PRIMED FOR OPPORTUNITIES

Simple strategy with $g6y million of liquiclity'*

Leverage 4.gx Net Debt/EBITDA is the lowest in the office sector'^

Investment grac!e crec!it ratings from Wooc!y's ancl S&P

TRACK RECORD

OF SUCCESS

Forecaster! earnings growth c!espite interest rate heac!winc!s'°

Increases! cliviclenc! 1O% since COVID while maintaining conservative payout ratio'5

NAV growth has consistently outperformecl peer average since 2O1y'^

2

COUSINS AT A GLANCE

The Preeminent fiiun Belt Office REIT

NOI By Garl‹etl

Phoenix

Dallas

Nashville'

Tampa

8°/»

Charlotte

Atlanta

g2"2o

21.3MMSF

portfolio*

9z.1%

leased*

2011

average

year built*

6g%

of portfolio developed or redeveloped since 1O1O^"

g›6K SF

development

pipeline5

s•›/"!I°1SF

land bank^

3

LIFESTYLE OFFICE ASSETS

Located in the best markets and submarkets with close proximity to thriving and dynamic neighborhoods

COMMODITY OFFICE ASSETS

× Older vintage assets with few or no in-building amenities and limited outdoor activation

× Proximity to single-use office districts with challenging walkability and post work entertainment options

× Fundamental interior features - low ceiling heights, small windows, etc. - are uneconomic to change or improve through redevelopment

× Inconvenient and exposed surface parking

Companies are recognizing the importance of desirable office space in recruitment, retention and culture

Large portions have become obsolete and unleasable - eventually will be redeveloped into another use

PREMIER SUN BELT LIFESTYLE OFFICE PORTFOLIO

Amenity Ricn Trophy Assets in Leaving ° un Bell Markets

G Cousins 5

Disclaimer

Cousins Properties Inc. published this content on May 05, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 06, 2025 at 01:53 UTC.