Positive Outlook

• Guidance midpoint for dispositions, sales of partial interests, and common equity increased by $150 million to $1,550 million.
• Expect to continue pursuing our strategy to fund a significant portion of our capital requirements for the year ending December 31, 2024 with dispositions and sales of partial interests in properties not integral to our mega campus strategy and are actively pursuing several dispositions and partial interest sale opportunities.
• As of July 22, 2024, we completed dispositions aggregating $77.2 million, have additional pending transactions subject to letters of intent or purchase and sale agreement negotiations aggregating $806.7 million, and entered into new forward equity sales agreements aggregating $27.8 million, which, in aggregate, represents 59% of the $1.55 billion midpoint of our guidance range.
• Represents $1.0 billion of unsecured senior notes payable issued in February 2024.
• Highly leased value-creation pipeline delivered incremental annual net operating income of $16 million commencing during 2Q24 and is expected to deliver incremental annual net operating income aggregating $480 million by 1Q28

Challenges Ahead