HIGHWOODS PROPERTIES, INC. Consolidated Balance Sheets (Unaudited and in thousands, except share and per share data) June 30, 2026 December 31, 2025 Assets: Real estate assets, at cost: Land $ 607,720 $ 609,177 Buildings and tenant improvements 6,216,948 6,144,697 Development in-process — 6,248 Land held for development 197,227 214,149 7,021,895 6,974,271 Less-accumulated depreciation (1,905,507) (1,902,276) Net real estate assets 5,116,388 5,071,995 Real estate and other assets, net, held for sale 53,900 23,201 Cash and cash equivalents 145,377 27,358 Restricted cash 20,653 15,691 Accounts receivable 31,548 28,263 Mortgages and notes receivable 12,228 12,228 Accrued straight-line rents receivable 304,951 318,024 Investments in and advances to unconsolidated affiliates 446,928 471,580 Deferred leasing costs, net of accumulated amortization of $174,584 and $169,972, respectively 278,222 244,258 Prepaid expenses and other assets, net of accumulated depreciation of $27,411 and $25,144, respectively 61,456 61,240 Total Assets $ 6,471,651 $ 6,273,838 Liabilities, Noncontrolling Interests in the Operating Partnership and Equity: Mortgages and notes payable, net $ 3,515,608 $ 3,554,178 Accounts payable, accrued expenses and other liabilities 305,713 284,006 Total Liabilities 3,821,321 3,838,184 Commitments and contingencies Noncontrolling interests in the Operating Partnership 60,840 52,777 Equity: Preferred Stock, $.01 par value, 50,000,000 authorized shares; 8.625% Series A Cumulative Redeemable Preferred Shares (liquidation preference $1,000 per share), 26,631 and 26,691 shares issued and outstanding, respectively 26,631 26,691 Common Stock, $.01 par value, 200,000,000 authorized shares; 110,306,211 and 109,905,241 shares issued and outstanding, respectively 1,103 1,099 Additional paid-in capital 3,221,689 3,223,767 Distributions in excess of net income available for common stockholders (855,358) (870,083) Accumulated other comprehensive loss (2,625) (2,494) Total Stockholders’ Equity 2,391,440 2,378,980 Noncontrolling interests in consolidated affiliates 198,050 3,897 Total Equity 2,589,490 2,382,877 Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity $ 6,471,651 $ 6,273,838 See accompanying notes to consolidated financial statements. 3 Table of Contents HIGHWOODS PROPERTIES, INC. Consolidated Statements of Income (Unaudited and in thousands, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Rental and other revenues $ 216,379 $ 200,600 $ 430,413 $ 400,983 Operating expenses: Rental property and other expenses 70,155 63,655 141,273 128,689 Depreciation and amortization 79,054 74,679 156,591 146,084 General and administrative 9,897 10,319 23,331 22,776 Total operating expenses 159,106 148,653 321,195 297,549 Interest expense 41,694 37,665 83,390 74,307 Other income 2,568 4,629 5,736 6,254 Gains on disposition of property 79,024 — 95,987 82,215 Equity in earnings/(losses) of unconsolidated affiliates (414) 310 2,571 1,625 Net income 96,757 19,221 130,122 119,221 Net (income) attributable to noncontrolling interests in the Operating Partnership (1,716) (365) (2,295) (2,321) Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (993) — (1,842) 26 Dividends on Preferred Stock (574) (586) (1,148) (1,207) Net income available for common stockholders $ 93,474 $ 18,270 $ 124,837 $ 115,719 Earnings per Common Share – basic: Net income available for common stockholders $ 0.85 $ 0.17 $ 1.13 $ 1.07 Weighted average Common Shares outstanding – basic 110,284 107,825 110,162 107,754 Earnings per Common Share – diluted: Net income available for common stockholders $ 0.85 $ 0.17 $ 1.13 $ 1.07 Weighted average Common Shares outstanding – diluted 112,301 109,976 112,182 109,905 See accompanying notes to consolidated financial statements. 4 Table of Contents HIGHWOODS PROPERTIES, INC. Consolidated Statements of Comprehensive Income (Unaudited and in thousands) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Comprehensive income: Net income $ 96,757 $ 19,221 $ 130,122 $ 119,221 Other comprehensive loss: Amortization of cash flow hedges (68) (62) (131) (124) Total other comprehensive loss (68) (62) (131) (124) Total comprehensive income 96,689 19,159 129,991 119,097 Less-comprehensive (income) attributable to noncontrolling interests (2,709) (365) (4,137) (2,295) Comprehensive income attributable to common stockholders $ 93,980 $ 18,794 $ 125,854 $ 116,802 See accompanying notes to consolidated financial statements. 5 Table of Contents HIGHWOODS PROPERTIES, INC. Consolidated Statements of Equity (Unaudited and in thousands, except share amounts) Three Months Ended June 30, 2026 Number of Common Shares Common Stock Series A Cumulative Redeemable Preferred Shares Additional Paid-In Capital Accumulated Other Compre-hensive Loss Non-controlling Interests in Consolidated Affiliates Distributions in Excess of Net Income Available for Common Stockholders Total Balance as of March 31, 2026 110,272,697 $ 1,103 $ 26,631 $ 3,237,704 $ (2,557) $ 201,654 $ (893,681) $ 2,570,854 Issuances of Common Stock, net of issuance costs and tax withholdings 12,118 — — (22) — — — (22) Dividends on Common Stock ($0.50 per share) — — — — — (55,151) (55,151) Dividends on Preferred Stock ($21.5625 per share) — — — — — (574) (574) Adjustment of noncontrolling interests in the Operating Partnership to fair value — — (16,943) — — — (16,943) Distributions to noncontrolling interests in consolidated affiliates — — — — (4,597) — (4,597) Issuances of restricted stock 21,396 — — — — — — — Share-based compensation expense, net of forfeitures — — — 950 — — — 950 Net (income) attributable to noncontrolling interests in the Operating Partnership — — — — — (1,716) (1,716) Net (income) attributable to noncontrolling interests in consolidated affiliates — — — — 993 (993) — Comprehensive income: Net income — — — — — 96,757 96,757 Other comprehensive loss — — — (68) — — (68) Total comprehensive income 96,689 Balance as of June 30, 2026 110,306,211 $ 1,103 $ 26,631 $ 3,221,689 $ (2,625) $ 198,050 $ (855,358) $ 2,589,490 Six Months Ended June 30, 2026 Number of Common Shares Common Stock Series A Cumulative Redeemable Preferred Shares Additional Paid-In Capital Accumulated Other Compre-hensive Loss Non-controlling Interests in Consolidated Affiliates Distributions in Excess of Net Income Available for Common Stockholders Total Balance at December 31, 2025 109,905,241 $ 1,099 $ 26,691 $ 3,223,767 $ (2,494) $ 3,897 $ (870,083) $ 2,382,877 Issuances of Common Stock, net of issuance costs and tax withholdings (57,139) — — (1,665) — — — (1,665) Conversions of Common Units to Common Stock 25,855 700 700 Dividends on Common Stock ($1.00 per share) — — — — — (110,112) (110,112) Dividends on Preferred Stock ($43.1250 per share) — — — — — (1,148) (1,148) Adjustment of noncontrolling interests in the Operating Partnership to fair value — — (8,509) — — — (8,509) Distributions to noncontrolling interests in consolidated affiliates — — — — (4,891) — (4,891) Contributions from noncontrolling interests in consolidated affiliates — — — — 197,202 — 197,202 Issuances of restricted stock 432,254 — — — — — — — Redemptions/repurchases of Preferred Stock — (60) (60) Share-based compensation expense, net of forfeitures — 4 — 7,396 — — — 7,400 Net (income) attributable to noncontrolling interests in the Operating Partnership — — — — — (2,295) (2,295) Net (income) attributable to noncontrolling interests in consolidated affiliates — — — — 1,842 (1,842) — Comprehensive income: Net income — — — — — 130,122 130,122 Other comprehensive loss — — — (131) — — (131) Total comprehensive income 129,991 Balance as of June 30, 2026 110,306,211 $ 1,103 $ 26,631 $ 3,221,689 $ (2,625) $ 198,050 $ (855,358) $ 2,589,490 See accompanying notes to consolidated financial statements. 6 Table of Contents HIGHWOODS PROPERTIES, INC. Consolidated Statements of Equity - Continued (Unaudited and in thousands, except share amounts) Three Months Ended June 30, 2025 Number of Common Shares Common Stock Series A Cumulative Redeemable Preferred Shares Additional Paid-In Capital Accumulated Other Compre-hensive Loss Non-controlling Interests in Consolidated Affiliates Distributions in Excess of Net Income Available for Common Stockholders Total Balance as of March 31, 2025 107,810,629 $ 1,078 $ 28,811 $ 3,150,235 $ (2,308) $ 4,185 $ (766,979) $ 2,415,022 Issuances of Common Stock, net of issuance costs and tax withholdings 56,494 — — 1,620 — — — 1,620 Dividends on Common Stock ($0.50 per share) — — — — — (53,918) (53,918) Dividends on Preferred Stock ($21.5625 per share) — — — — — (586) (586) Adjustment of noncontrolling interests in the Operating Partnership to fair value — — (3,829) — — — (3,829) Distributions to noncontrolling interests in consolidated affiliates — — — — (80) — (80) Issuances of restricted stock 19,792 — — — — — — — Redemptions/repurchases of Preferred Stock (2,095) (2,095) Share-based compensation expense, net of forfeitures — 1 — 1,309 — — — 1,310 Net (income) attributable to noncontrolling interests in the Operating Partnership — — — — — (365) (365) Comprehensive income: Net income — — — — — 19,221 19,221 Other comprehensive loss — — — (62) — — (62) Total comprehensive income 19,159 Balance as of June 30, 2025 107,886,915 $ 1,079 $ 26,716 $ 3,149,335 $ (2,370) $ 4,105 $ (802,627) $ 2,376,238 Six Months Ended June 30, 2025 Number of Common Shares Common Stock Series A Cumulative Redeemable Preferred Shares Additional Paid-In Capital Accumulated Other Compre-hensive Loss Non-controlling Interests in Consolidated Affiliates Distributions in Excess of Net Income Available for Common Stockholders Total Balance at December 31, 2024 107,623,777 $ 1,076 $ 28,811 $ 3,144,130 $ (2,246) $ 4,291 $ (810,608) $ 2,365,454 Issuances of Common Stock, net of issuance costs and tax withholdings 1,458 — — (142) — — — (142) Dividends on Common Stock ($1.00 per share) — — — — — (107,738) (107,738) Dividends on Preferred Stock ($43.1250 per share) — — — — — (1,207) (1,207) Adjustment of noncontrolling interests in the Operating Partnership to fair value — — (927) — — — (927) Distributions to noncontrolling interests in consolidated affiliates — — — — (160) — (160) Issuances of restricted stock 261,680 — — — — — — — Redemptions/repurchases of Preferred Stock — (2,095) (2,095) Share-based compensation expense, net of forfeitures — 3 — 6,274 — — — 6,277 Net (income) attributable to noncontrolling interests in the Operating Partnership — — — — — (2,321) (2,321) Net loss attributable to noncontrolling interests in consolidated affiliates — — — — (26) 26 — Comprehensive income: Net income — — — — — 119,221 119,221 Other comprehensive loss — — — (124) — — (124) Total comprehensive income 119,097 Balance as of June 30, 2025 107,886,915 $ 1,079 $ 26,716 $ 3,149,335 $ (2,370) $ 4,105 $ (802,627) $ 2,376,238 See accompanying notes to consolidated financial statements. 7 Table of Contents HIGHWOODS PROPERTIES, INC. Consolidated Statements of Cash Flows (Unaudited and in thousands) Six Months Ended June 30, 2026 2025 Operating activities: Net income $ 130,122 $ 119,221 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 156,591 146,084 Amortization of lease incentives and acquisition-related intangible assets and liabilities 1,648 1,122 Share-based compensation expense 7,400 6,277 Net credit losses on operating lease receivables 1,857 139 Accrued interest on mortgages and notes receivable (816) (496) Amortization of debt issuance costs 3,081 2,821 Amortization of cash flow hedges (131) (124) Amortization of mortgages and notes payable fair value adjustments 175 56 Losses on debt extinguishment 60 — Net gains on disposition of property (95,987) (82,215) Equity in earnings of unconsolidated affiliates (2,571) (1,625) Distributions of earnings from unconsolidated affiliates 4,104 3,516 Changes in operating assets and liabilities: Accounts receivable 710 2,841 Prepaid expenses and other assets 260 (4,904) Accrued straight-line rents receivable (16,769) (6,004) Accounts payable, accrued expenses and other liabilities (1,658) (23,854) Net cash provided by operating activities 188,076 162,855 Investing activities: Investments in acquired real estate and related intangible assets, net of cash acquired (309,838) (137,828) Investments in development in-process (1,731) (593) Investments in tenant improvements and deferred leasing costs (84,601) (61,919) Investments in building improvements (26,785) (21,551) Net proceeds from disposition of real estate assets 297,533 137,779 Distributions of capital from unconsolidated affiliates 55,948 3,742 Investments in mortgages and notes receivable — (1,577) Repayments of mortgages and notes receivable — 6,333 Investments in and advances to unconsolidated affiliates (33,646) (16,681) Changes in earnest money deposits — 10,000 Changes in other investing activities 1,422 139 Net cash used in investing activities (101,698) (82,156) Financing activities: Dividends on Common Stock (110,112) (107,738) Redemptions/repurchases of Preferred Stock (60) (2,095) Redemptions of Common Units (24) (10) Dividends on Preferred Stock (1,148) (1,207) Distributions to noncontrolling interests in the Operating Partnership (2,017) (2,151) Distributions to noncontrolling interests in consolidated affiliates (4,891) (160) Contributions from noncontrolling interests in consolidated affiliates 197,202 — Proceeds from the issuance of Common Stock 655 2,191 Costs paid for the issuance of Common Stock (455) (324) Repurchase of shares related to tax withholdings (1,865) (2,009) Borrowings on revolving credit facility 203,000 237,000 Repayments of revolving credit facility (228,000) (194,000) Borrowings on mortgages and notes payable 20,000 — Repayments of mortgages and notes payable (34,396) (3,865) Payments for debt issuance costs and other financing activities (1,286) — Net cash provided by/(used in) financing activities 36,603 (74,368) Net increase in cash and cash equivalents and restricted cash $ 122,981 $ 6,331 See accompanying notes to consolidated financial statements. 8 Table of Contents HIGHWOODS PROPERTIES, INC. Consolidated Statements of Cash Flows – Continued (Unaudited and in thousands) Six Months Ended June 30, 2026 2025 Net increase in cash and cash equivalents and restricted cash $ 122,981 $ 6,331 Cash and cash equivalents and restricted cash at beginning of the period 43,049 33,677 Cash and cash equivalents and restricted cash at end of the period $ 166,030 $ 40,008 Reconciliation of cash and cash equivalents and restricted cash: Six Months Ended June 30, 2026 2025 Cash and cash equivalents at end of the period $ 145,377 $ 21,193 Restricted cash at end of the period 20,653 18,815 Cash and cash equivalents and restricted cash at end of the period $ 166,030 $ 40,008 Supplemental disclosure of cash flow information: Six Months Ended June 30, 2026 2025 Cash paid for interest, net of amounts capitalized $ 71,069 $ 71,400 Supplemental disclosure of non-cash investing and financing activities: Six Months Ended June 30, 2026 2025 Conversions of Common Units to Common Stock $ 700 $ — Changes in accrued capital expenditures (1) $ 19,084 $ (2,218) Write-off of fully depreciated real estate assets $ 44,862 $ 54,439 Write-off of fully amortized leasing costs $ 15,376 $ 25,199 Write-off of fully amortized debt issuance costs $ 1,097 $ — Adjustment of noncontrolling interests in the Operating Partnership to fair value $ 8,509 $ 927 __________ (1)Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities as of June 30, 2026 and 2025 were $64.1 million and $50.7 million, respectively. See accompanying notes to consolidated financial statements. 9 Table of Contents HIGHWOODS REALTY LIMITED PARTNERSHIP Consolidated Balance Sheets (Unaudited and in thousands, except unit and per unit data) June 30, 2026 December 31, 2025 Assets: Real estate assets, at cost: Land $ 607,720 $ 609,177 Buildings and tenant improvements 6,216,948 6,144,697 Development in-process — 6,248 Land held for development 197,227 214,149 7,021,895 6,974,271 Less-accumulated depreciation (1,905,507) (1,902,276) Net real estate assets 5,116,388 5,071,995 Real estate and other assets, net, held for sale 53,900 23,201 Cash and cash equivalents 145,377 27,358 Restricted cash 20,653 15,691 Accounts receivable 31,548 28,263 Mortgages and notes receivable 12,228 12,228 Accrued straight-line rents receivable 304,951 318,024 Investments in and advances to unconsolidated affiliates 446,928 471,580 Deferred leasing costs, net of accumulated amortization of $174,584 and $169,972, respectively 278,222 244,258 Prepaid expenses and other assets, net of accumulated depreciation of $27,411 and $25,144, respectively 61,456 61,240 Total Assets $ 6,471,651 $ 6,273,838 Liabilities, Redeemable Operating Partnership Units and Capital: Mortgages and notes payable, net $ 3,515,608 $ 3,554,178 Accounts payable, accrued expenses and other liabilities 305,713 284,006 Total Liabilities 3,821,321 3,838,184 Commitments and contingencies Redeemable Operating Partnership Units: Common Units, 2,017,248 and 2,044,053 outstanding, respectively 60,840 52,777 Series A Preferred Units (liquidation preference $1,000 per unit), 26,631 and 26,691 units issued and outstanding, respectively 26,631 26,691 Total Redeemable Operating Partnership Units 87,471 79,468 Capital: Common Units: General partner Common Units, 1,119,147 and 1,115,405 outstanding, respectively 23,674 23,547 Limited partner Common Units, 108,778,255 and 108,381,027 outstanding, respectively 2,343,760 2,331,236 Accumulated other comprehensive loss (2,625) (2,494) Noncontrolling interests in consolidated affiliates 198,050 3,897 Total Capital 2,562,859 2,356,186 Total Liabilities, Redeemable Operating Partnership Units and Capital $ 6,471,651 $ 6,273,838 See accompanying notes to consolidated financial statements. 10 Table of Contents HIGHWOODS REALTY LIMITED PARTNERSHIP Consolidated Statements of Income (Unaudited and in thousands, except per unit amounts) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Rental and other revenues $ 216,379 $ 200,600 $ 430,413 $ 400,983 Operating expenses: Rental property and other expenses 70,155 63,655 141,273 128,689 Depreciation and amortization 79,054 74,679 156,591 146,084 General and administrative 9,897 10,319 23,331 22,776 Total operating expenses 159,106 148,653 321,195 297,549 Interest expense 41,694 37,665 83,390 74,307 Other income 2,568 4,629 5,736 6,254 Gains on disposition of property 79,024 — 95,987 82,215 Equity in earnings/(losses) of unconsolidated affiliates (414) 310 2,571 1,625 Net income 96,757 19,221 130,122 119,221 Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (993) — (1,842) 26 Distributions on Preferred Units (574) (586) (1,148) (1,207) Net income available for common unitholders $ 95,190 $ 18,635 $ 127,132 $ 118,040 Earnings per Common Unit – basic: Net income available for common unitholders $ 0.85 $ 0.17 $ 1.14 $ 1.08 Weighted average Common Units outstanding – basic 111,892 109,567 111,773 109,496 Earnings per Common Unit – diluted: Net income available for common unitholders $ 0.85 $ 0.17 $ 1.14 $ 1.08 Weighted average Common Units outstanding – diluted 111,892 109,567 111,773 109,496 See accompanying notes to consolidated financial statements. 11 Table of Contents HIGHWOODS REALTY LIMITED PARTNERSHIP Consolidated Statements of Comprehensive Income (Unaudited and in thousands) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Comprehensive income: Net income $ 96,757 $ 19,221 $ 130,122 $ 119,221 Other comprehensive loss: Amortization of cash flow hedges (68) (62) (131) (124) Total other comprehensive loss (68) (62) (131) (124) Total comprehensive income 96,689 19,159 129,991 119,097 Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (993) — (1,842) 26 Comprehensive income attributable to common unitholders $ 95,696 $ 19,159 $ 128,149 $ 119,123 See accompanying notes to consolidated financial statements. 12 Table of Contents HIGHWOODS REALTY LIMITED PARTNERSHIP Consolidated Statements of Capital (Unaudited and in thousands) Three Months Ended June 30, 2026 Common Units Accumulated Other Comprehensive Loss Noncontrolling Interests in Consolidated Affiliates Total General Partners’ Capital Limited Partners’ Capital Balance as of March 31, 2026 $ 23,452 $ 2,321,674 $ (2,557) $ 201,654 2,544,223 Issuances of Common Units, net of issuance costs and tax withholdings (1) (21) — — (22) Distributions on Common Units ($0.50 per unit) (559) (55,396) — — (55,955) Distributions on Preferred Units ($21.5625 per unit) (5) (569) — — (574) Share-based compensation expense, net of forfeitures 9 941 — — 950 Distributions to noncontrolling interests in consolidated affiliates — — — (4,597) (4,597) Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner (179) (17,676) — — (17,855) Net (income) attributable to noncontrolling interests in consolidated affiliates (10) (983) — 993 — Comprehensive income: Net income 967 95,790 — — 96,757 Other comprehensive loss — — (68) — (68) Total comprehensive income 96,689 Balance as of June 30, 2026 23,674 2,343,760 (2,625) 198,050 $ 2,562,859 Six Months Ended June 30, 2026 Common Units Accumulated Other Comprehensive Loss Noncontrolling Interests in Consolidated Affiliates Total General Partners’ Capital Limited Partners’ Capital Balance at December 31, 2025 $ 23,547 $ 2,331,236 $ (2,494) $ 3,897 $ 2,356,186 Issuances of Common Units, net of issuance costs and tax withholdings (17) (1,648) — — (1,665) Redemptions of Common Units — (24) — — (24) Distributions on Common Units ($1.00 per unit) (1,117) (110,603) — — (111,720) Distributions on Preferred Units ($43.1250 per unit) (11) (1,137) — — (1,148) Share-based compensation expense, net of forfeitures 74 7,326 — — 7,400 Distributions to noncontrolling interests in consolidated affiliates — — — (4,891) (4,891) Contributions from noncontrolling interests in consolidated affiliates — — — 197,202 197,202 Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner (85) (8,387) — — (8,472) Net (income) attributable to noncontrolling interests in consolidated affiliates (18) (1,824) — 1,842 — Comprehensive income: Net income 1,301 128,821 — — 130,122 Other comprehensive loss — — (131) — (131) Total comprehensive income 129,991 Balance as of June 30, 2026 $ 23,674 $ 2,343,760 $ (2,625) $ 198,050 $ 2,562,859 See accompanying notes to consolidated financial statements. 13 Table of Contents HIGHWOODS REALTY LIMITED PARTNERSHIP Consolidated Statements of Capital - Continued (Unaudited and in thousands) Three Months Ended June 30, 2025 Common Units Accumulated Other Comprehensive Loss Noncontrolling Interests in Consolidated Affiliates Total General Partners’ Capital Limited Partners’ Capital Balance as of March 31, 2025 $ 23,842 $ 2,360,492 $ (2,308) $ 4,185 $ 2,386,211 Issuances of Common Units, net of issuance costs and tax withholdings 17 1,603 — — 1,620 Distributions on Common Units ($0.50 per unit) (548) (54,241) — — (54,789) Distributions on Preferred Units ($21.5625 per unit) (6) (580) — — (586) Share-based compensation expense, net of forfeitures 13 1,297 — — 1,310 Distributions to noncontrolling interests in consolidated affiliates — — — (80) (80) Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner (33) (3,290) — — (3,323) Comprehensive income: Net income 192 19,029 — — 19,221 Other comprehensive loss — — (62) — (62) Total comprehensive income 19,159 Balance as of June 30, 2025 $ 23,477 $ 2,324,310 $ (2,370) $ 4,105 $ 2,349,522 Six Months Ended June 30, 2025 Common Units Accumulated Other Comprehensive Loss Noncontrolling Interests in Consolidated Affiliates Total General Partners’ Capital Limited Partners’ Capital Balance at December 31, 2024 $ 23,345 $ 2,311,253 $ (2,246) $ 4,291 $ 2,336,643 Issuances of Common Units, net of issuance costs and tax withholdings (1) (141) — — (142) Redemptions of Common Units — (10) — — (10) Distributions on Common Units ($1.00 per unit) (1,095) (108,385) — — (109,480) Distributions on Preferred Units ($43.1250 per unit) (12) (1,195) — — (1,207) Share-based compensation expense, net of forfeitures 63 6,214 — — 6,277 Distributions to noncontrolling interests in consolidated affiliates — — — (160) (160) Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner (15) (1,481) — — (1,496) Net loss attributable to noncontrolling interests in consolidated affiliates — 26 (26) — Comprehensive income: Net income 1,192 118,029 — — 119,221 Other comprehensive loss — — (124) — (124) Total comprehensive income 119,097 Balance as of June 30, 2025 $ 23,477 $ 2,324,310 $ (2,370) $ 4,105 $ 2,349,522 See accompanying notes to consolidated financial statements. 14 Table of Contents HIGHWOODS REALTY LIMITED PARTNERSHIP Consolidated Statements of Cash Flows (Unaudited and in thousands) Six Months Ended June 30, 2026 2025 Operating activities: Net income $ 130,122 $ 119,221 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 156,591 146,084 Amortization of lease incentives and acquisition-related intangible assets and liabilities 1,648 1,122 Share-based compensation expense 7,400 6,277 Net credit losses on operating lease receivables 1,857 139 Accrued interest on mortgages and notes receivable (816) (496) Amortization of debt issuance costs 3,081 2,821 Amortization of cash flow hedges (131) (124) Amortization of mortgages and notes payable fair value adjustments 175 56 Losses on debt extinguishment 60 — Net gains on disposition of property (95,987) (82,215) Equity in earnings of unconsolidated affiliates (2,571) (1,625) Distributions of earnings from unconsolidated affiliates 4,104 3,516 Changes in operating assets and liabilities: Accounts receivable 710 2,841 Prepaid expenses and other assets 260 (4,904) Accrued straight-line rents receivable (16,769) (6,004) Accounts payable, accrued expenses and other liabilities (1,658) (23,854) Net cash provided by operating activities 188,076 162,855 Investing activities: Investments in acquired real estate and related intangible assets, net of cash acquired (309,838) (137,828) Investments in development in-process (1,731) (593) Investments in tenant improvements and deferred leasing costs (84,601) (61,919) Investments in building improvements (26,785) (21,551) Net proceeds from disposition of real estate assets 297,533 137,779 Distributions of capital from unconsolidated affiliates 55,948 3,742 Investments in mortgages and notes receivable — (1,577) Repayments of mortgages and notes receivable — 6,333 Investments in and advances to unconsolidated affiliates (33,646) (16,681) Changes in earnest money deposits — 10,000 Changes in other investing activities 1,422 139 Net cash used in investing activities (101,698) (82,156) Financing activities: Distributions on Common Units (111,720) (109,480) Redemptions/repurchases of Preferred Units (60) (2,095) Redemptions of Common Units (24) (10) Distributions on Preferred Units (1,148) (1,207) Distributions to noncontrolling interests in consolidated affiliates (4,891) (160) Contributions from noncontrolling interests in consolidated affiliates 197,202 — Proceeds from the issuance of Common Units 655 2,191 Costs paid for the issuance of Common Units (455) (324) Repurchase of units related to tax withholdings (1,865) (2,009) Borrowings on revolving credit facility 203,000 237,000 Repayments of revolving credit facility (228,000) (194,000) Borrowings on mortgages and notes payable 20,000 — Repayments of mortgages and notes payable (34,396) (3,865) Payments for debt issuance costs and other financing activities (1,695) (409) Net cash provided by/(used in) financing activities 36,603 (74,368) Net increase in cash and cash equivalents and restricted cash $ 122,981 $ 6,331 See accompanying notes to consolidated financial statements. 15 Table of Contents HIGHWOODS REALTY LIMITED PARTNERSHIP Consolidated Statements of Cash Flows - Continued (Unaudited and in thousands) Six Months Ended June 30, 2026 2025 Net increase in cash and cash equivalents and restricted cash $ 122,981 $ 6,331 Cash and cash equivalents and restricted cash at beginning of the period 43,049 33,677 Cash and cash equivalents and restricted cash at end of the period $ 166,030 $ 40,008 Reconciliation of cash and cash equivalents and restricted cash: Six Months Ended June 30, 2026 2025 Cash and cash equivalents at end of the period $ 145,377 $ 21,193 Restricted cash at end of the period 20,653 18,815 Cash and cash equivalents and restricted cash at end of the period $ 166,030 $ 40,008 Supplemental disclosure of cash flow information: Six Months Ended June 30, 2026 2025 Cash paid for interest, net of amounts capitalized $ 71,069 $ 71,400 Supplemental disclosure of non-cash investing and financing activities: Six Months Ended June 30, 2026 2025 Changes in accrued capital expenditures (1) $ 19,084 $ (2,218) Write-off of fully depreciated real estate assets $ 44,862 $ 54,439 Write-off of fully amortized leasing costs $ 15,376 $ 25,199 Write-off of fully amortized debt issuance costs $ 1,097 $ — Adjustment of Redeemable Common Units to fair value $ 8,063 $ 1,087 __________ (1)Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities as of June 30, 2026 and 2025 were $64.1 million and $50.7 million, respectively. See accompanying notes to consolidated financial statements. 16 Table of Contents HIGHWOODS PROPERTIES, INC. HIGHWOODS REALTY LIMITED PARTNERSHIP NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS June 30, 2026 (tabular dollar amounts in thousands, except per share and per unit data) (Unaudited) 1. Description of Business and Significant Accounting Policies Description of Business Highwoods Properties, Inc. (the “Company”) is a fully integrated office real estate investment trust (“REIT”) that owns, develops, acquires, leases and manages properties primarily in the best business districts of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa. The Company conducts its activities through Highwoods Realty Limited Partnership (the “Operating Partnership”). As of June 30, 2026, we owned or had an interest in 27.7 million rentable square feet of in-service properties, 0.6 million rentable square feet of office properties under development and development land with approximately 3.5 million rentable square feet of potential office build out. Capital Structure The Company is the sole general partner of the Operating Partnership. As of June 30, 2026, the Company owned all of the Preferred Units and 109.9 million, or 98.2%, of the Common Units in the Operating Partnership. Limited partners owned the remaining 2.0 million Common Units. During the six months ended June 30, 2026, the Company redeemed 25,855 Common Units for a like number of shares of Common Stock and 950 Common Units for cash. During the first quarter of 2026, we entered into separate equity distribution agreements pursuant to which the Company may offer and sell up to $300.0 million in aggregate gross sales price of shares of Common Stock, including on a forward basis under forward sale agreements. During the three and six months ended June 30, 2026, the Company issued no shares of Common Stock under its equity distribution agreements. During the second quarter of 2026, we announced that the Company’s Board of Directors has authorized the repurchase of up to $250.0 million of outstanding shares of Common Stock under a new stock repurchase program. We anticipate funding any stock repurchases with proceeds from non-core asset sales, available cash and borrowings under our revolving credit facility. The Company may purchase shares of Common Stock from time to time in amounts and at prices determined by the Company in its discretion. Shares of Common Stock may be repurchased in the open market or in privately negotiated transactions (which may include block trades). If and when the Company repurchases Common Stock under this program, the Operating Partnership will repurchase an equal number of Common Units from the Company. The timing, manner, price and actual number of shares repurchased will be subject to a variety of factors, including price, market conditions, corporate and regulatory requirements, applicable SEC rules and other liquidity requirements and priorities. The Common Stock repurchase program does not have an expiration date, does not obligate the Company to repurchase any dollar amount or number of shares and may be suspended, modified or discontinued at any time without prior notice. During the three and six months ended June 30, 2026, the Company repurchased no shares of Common Stock under its stock repurchase program. Basis of Presentation Our Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The Company’s Consolidated Financial Statements include the Operating Partnership, wholly owned subsidiaries and those entities in which the Company has the controlling interest. The Operating Partnership’s Consolidated Financial Statements include wholly owned subsidiaries and those entities in which the Operating Partnership has the controlling interest. We consolidate joint venture investments, such as interests in partnerships and limited liability companies, when we control the major operating and financial policies of the investment through majority ownership, in our capacity as a general partner or managing member or through some other contractual right. In addition, we consolidate those entities deemed to be variable interest entities in which we are determined to be the primary beneficiary. As of June 30, 2026, we are involved with six entities we determined to be variable interest entities, three of which we are the primary beneficiary and are consolidated and three of which we are not the primary beneficiary and are not consolidated. In 17 Table of Contents addition, during 2025, we acquired a building using a special purpose entity owned by a qualified intermediary to facilitate a potential Section 1031 reverse exchange under the Internal Revenue Code. To realize the tax deferral available under the Section 1031 exchange, we were required to complete the Section 1031 exchange, and take title to the to-be-exchanged building within 180 days of the acquisition date. We completed the exchange by acquiring 100% of the special purpose entity in May 2026. All intercompany transactions and accounts have been eliminated. In the opinion of management, the unaudited interim Consolidated Financial Statements and accompanying unaudited consolidated financial information contain all adjustments (including normal recurring accruals) necessary for a fair presentation of our financial position, results of operations and cash flows. We have condensed or omitted certain notes and other information from the interim Consolidated Financial Statements presented in this Quarterly Report as permitted by SEC rules and regulations. These Consolidated Financial Statements should be read in conjunction with our 2025 Annual Report on Form 10-K. Use of Estimates The preparation of consolidated financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in our Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates. Insurance We are primarily self-insured for health care claims for participating employees. To limit our exposure to significant claims, we have stop-loss coverage on a per claim and annual aggregate basis. We use all relevant information to determine our liabilities for claims, including actuarial estimates of claim liabilities. When determining our liabilities, we include claims for incurred losses, even if they are unreported. As of June 30, 2026, a reserve of $0.4 million was recorded to cover estimated reported and unreported claims. Recently Issued Accounting Standards The Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) that requires disaggregated disclosure of income statement expenses. Certain expense captions will be disaggregated into specified categories in disclosures within the Notes to Consolidated Financial Statements. The ASU is required to be adopted starting with our 2027 Annual Report on Form 10-K. We do not expect this adoption will have a material effect on our Consolidated Financial Statements. 2. Leases Operating Leases We generally lease our office properties to lessees in exchange for fixed monthly payments that cover rent, property taxes, insurance and certain cost recoveries, primarily common area maintenance. Our office properties that are under lease are primarily located in Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa and are leased to a wide variety of lessees across many industries. Our leases are operating leases and mostly range from three to 10 years. We recognized rental and other revenues related to operating lease payments of $211.5 million and $222.1 million during the three months ended June 30, 2026 and 2025, respectively, and $421.3 million and $392.9 million during the six months ended June 30, 2026 and 2025, respectively. Included in these amounts were variable lease payments of $18.8 million and $16.7 million during the three months ended June 30, 2026 and 2025, respectively, and $36.9 million and $33.6 million during the six months ended June 30, 2026 and 2025, respectively. 18 Table of Contents 3. Investments in and Advances to Affiliates We have interests in various real estate joint ventures that are evaluated for consolidation under the variable interest entity (“VIE”) model or the voting interest model, depending on the facts and circumstances of each joint venture. For our unconsolidated affiliates that are evaluated under the VIE model, we determined that we hold variable interests, but we are not the primary beneficiary because we do not have the power to direct the activities that most significantly impact the entities’ economic performance. Accordingly, these entities are not consolidated. For our unconsolidated affiliates that are evaluated under the voting interest model, we determined through evaluation of our voting rights that control does not rest with us. Accordingly, these entities are not consolidated. For our consolidated affiliates that are evaluated under the VIE model, we determined that we hold variable interests, and we are the primary beneficiary because we have the power to direct the activities that most significantly affect the entities’ economic performance. Accordingly, these entities are consolidated. Unconsolidated Affiliates Our unconsolidated joint ventures are accounted for under the equity method of accounting because we have the ability to exercise significant influence over the operating and financial policies of the entities. Our maximum exposure to loss from our unconsolidated VIEs is generally limited to the carrying value of our investments and any loans or other advances we have provided to the joint ventures. The assets of these unconsolidated VIEs may be used only to settle their own obligations, and their creditors have no recourse to our wholly owned assets. The following table summarizes our unconsolidated affiliates as of June 30, 2026: Unconsolidated Affiliate Location Ownership Interest VIE (Y/N) Carrying Value as of June 30, 2026 Granite Park Six JV, LLC (1) Dallas 50.0% N $ 42,283 GPI 23Springs JV, LLC (2) Dallas 50.0% Y 107,588 M+O JV, LLC Dallas 50.0% N 180,459 Midtown East Tampa, LLC (3) Tampa 50.0% Y 50,452 Brand/HRLP 2827 Peachtree LLC (4) Atlanta 50.0% Y 61,829 Plaza Colonnade, Tenant-in-Common Kansas City 50.0% N 4,317 $ 446,928 __________ (1)During the second quarter of 2026, Granite Park Six JV, LLC (“Granite Park Six joint venture”) obtained a secured loan for up to $100.0 million with a maturity date of April 2028 (but can be extended for one additional year at the joint venture’s option assuming no defaults have occurred). In connection with this loan, the Granite Park Six joint venture obtained an interest rate hedge contract that effectively fixed the overall interest rate at 5.9%. As of June 30, 2026, $86.6 million was drawn on this loan. The joint venture used the net proceeds from the secured loan to redeem the preferred equity that we contributed during the first quarter of 2026 and distributed the remainder equally to us and our partner, Granite Properties (“Granite”). As a result of these reconsideration events, the Granite Park Six joint venture is no longer a VIE since it now has sufficient equity at risk. This joint venture is now evaluated under the voting interest model, and the entity remains unconsolidated. (2)As of June 30, 2026, GPI 23Springs JV, LLC (“23Springs joint venture”) had $192.0 million outstanding under its construction loan, which matures in March 2027. (3)As of June 30, 2026, Midtown East Tampa, LLC (“Midtown East joint venture”) had $43.7 million outstanding under the loan we previously provided to the joint venture. See Note 13. (4)As of June 30, 2026, Brand/HRLP 2827 Peachtree LLC (“2827 Peachtree joint venture”) had $51.5 million outstanding under the loan we have provided to the joint venture. Consolidated Affiliates As of June 30, 2026, our consolidated VIEs consisted of the following: HRLP Bloc 83, L.P. (“Bloc 83 joint venture”) in Raleigh in which we own a 10.0% interest (but retain an option to increase our ownership interest to 50.0% in the future), Terraces JV, LLC (“Terraces joint venture”) in Dallas in which we own an 80.0% interest and HRLP MTW, LLC (“Midtown West joint venture”) in Tampa in which we own an 80.0% interest. The assets of these consolidated VIEs may be used only to settle their own obligations, and their creditors have no recourse to our wholly owned assets. 19 Table of Contents During the first quarter of 2026, we acquired Bloc83, a two-building, 492,000 square foot mixed-use asset in CBD Raleigh, through the formation of the Bloc 83 joint venture with the North Carolina Investment Authority (“NCIA”). The joint venture’s planned total investment of $210.5 million, which includes planned near-term building improvements and transaction costs, has been or will be funded with $21.0 million of common equity contributed by us and $189.5 million of common equity contributed by the NCIA. The assets acquired and liabilities assumed were recorded at relative fair value as determined by management based on information available at the acquisition date and on current assumptions as to future operations. The following table sets forth the carrying value of the assets and liabilities of the Bloc 83 joint venture included on our Consolidated Balance Sheets: June 30, 2026 Net real estate assets $ 173,158 Cash and cash equivalents $ 8,782 Restricted cash $ 5,388 Accounts receivable $ 267 Accrued straight-line rents receivable $ 546 Deferred leasing costs, net $ 28,111 Accounts payable, accrued expenses and other liabilities $ 9,405 During the first quarter of 2026, we expanded our Dallas market presence by acquiring The Terraces, a 173,000 square foot office building in the Preston Center BBD of Dallas, through the formation of the Terraces joint venture with Granite. The joint venture’s planned total investment of $109.3 million, which includes planned near-term building improvements and transaction costs, has been or will be funded with $64.3 million of preferred equity contributed by us, $36.0 million of common equity contributed by us and $9.0 million of common equity contributed by Granite. The preferred equity contributed by us is entitled to receive monthly distributions from available cash at a rate of 5.75%. The assets acquired and liabilities assumed were recorded at relative fair value as determined by management based on information available at the acquisition date and on current assumptions as to future operations. The following table sets forth the carrying value of the assets and liabilities of the Terraces joint venture included on our Consolidated Balance Sheets: June 30, 2026 Net real estate assets $ 93,661 Cash and cash equivalents $ 3,600 Accounts receivable $ 536 Accrued straight-line rents receivable $ 655 Deferred leasing costs, net $ 13,178 Accounts payable, accrued expenses and other liabilities $ 5,713 The following table sets forth the carrying value of the assets and liabilities of the Midtown West joint venture included on our Consolidated Balance Sheets: June 30, 2026 December 31, 2025 Net real estate assets $ 55,302 $ 56,299 Cash and cash equivalents $ 1,936 $ 1,361 Accounts receivable $ 67 $ 203 Accrued straight-line rents receivable $ 5,165 $ 5,254 Deferred leasing costs, net $ 2,038 $ 2,211 Prepaid expenses and other assets, net $ 83 $ 124 Mortgages and notes payable, net $ 43,912 $ 44,059 Accounts payable, accrued expenses and other liabilities $ 1,355 $ 1,170 20 Table of Contents 4. Real Estate Assets Dispositions During the first quarter of 2026, we sold three buildings in Richmond for an aggregate sales price of $42.3 million and recorded aggregate gains on disposition of property of $17.0 million. During the second quarter of 2026, we sold a building in Nashville and land in Richmond for an aggregate sales price of $259.0 million and recorded aggregate gains on disposition of property of $79.0 million. 5. Intangible Assets and Below Market Lease Liabilities The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization: June 30, 2026 December 31, 2025 Assets: Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets) $ 452,806 $ 414,230 Less accumulated amortization (174,584) (169,972) $ 278,222 $ 244,258 Liabilities (in accounts payable, accrued expenses and other liabilities): Acquisition-related below market lease liabilities $ 35,959 $ 32,628 Less accumulated amortization (17,051) (17,102) $ 18,908 $ 15,526 The following table sets forth amortization of intangible assets and below market lease liabilities: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization) $ 11,240 $ 9,070 $ 22,193 $ 18,074 Amortization of lease incentives (in rental and other revenues) $ 850 $ 660 $ 1,734 $ 1,305 Amortization of acquisition-related above market lease intangible assets (in rental and other revenues) $ 839 $ 636 $ 1,684 $ 1,234 Amortization of acquisition-related below market lease liabilities (in rental and other revenues) $ (886) $ (665) $ (1,770) $ (1,417) 21 Table of Contents The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities: Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization) Amortization of Lease Incentives (in Rental and Other Revenues) Amortization of Acquisition-Related Above Market Lease Intangible Assets (in Rental and Other Revenues) Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues) July 1 through December 31, 2026 $ 23,859 $ 1,360 $ 1,676 $ (1,659) 2027 42,653 2,542 3,006 (3,080) 2028 37,698 2,388 2,811 (2,666) 2029 33,495 2,125 2,581 (2,289) 2030 29,427 1,789 2,255 (2,154) Thereafter 76,365 5,087 7,105 (7,060) $ 243,497 $ 15,291 $ 19,434 $ (18,908) Weighted average remaining amortization periods as of June 30, 2026 (in years) 7.1 7.3 7.5 7.5 The following table sets forth the intangible assets acquired as a result of the acquisitions of Bloc83 in Raleigh and The Terraces in Dallas in the first quarter of 2026: Acquisition-Related Above Market Lease Intangible Assets (amortized in Rental and Other Revenues) Acquisition-Related Intangible Assets (amortized in Depreciation and Amortization) Acquisition-Related Below Market Lease Liabilities (amortized in Rental and Other Revenues) Amount recorded at acquisition $ 7,751 $ 37,190 $ (5,152) Weighted average remaining amortization periods as of June 30, 2026 (in years) 8.0 6.7 6.5 22 Table of Contents 6. Mortgages and Notes Payable The following table sets forth our mortgages and notes payable: June 30, 2026 December 31, 2025 Secured indebtedness $ 699,176 $ 703,409 Unsecured indebtedness 2,831,736 2,866,745 Less-unamortized debt issuance costs (15,304) (15,976) Total mortgages and notes payable, net $ 3,515,608 $ 3,554,178 As of June 30, 2026, our secured mortgage loans were collateralized by real estate assets with an undepreciated book value of $1,288.1 million. Our $750.0 million unsecured revolving credit facility is scheduled to mature in January 2028 (but can be extended for two additional six-month periods at our option assuming no defaults have occurred). The interest rate on our revolving credit facility is SOFR plus 85 basis points, based on current credit ratings. The annual facility fee is 20 basis points. The interest rate and facility fee are based on the higher of the publicly announced ratings from Moody’s Investors Service or Standard & Poor’s Ratings Services. The interest rate may be adjusted upward or downward by 2.5 basis points depending upon whether or not we achieve certain pre-determined sustainability goals with respect to the ongoing reduction of greenhouse gas emissions. There were no amounts outstanding under our revolving credit facility as of June 30, 2026 and July 21, 2026, respectively. As of both June 30, 2026 and July 21, 2026, we had $0.1 million of outstanding letters of credit, which reduce the availability on our revolving credit facility. As a result, the unused capacity of our revolving credit facility was $749.9 million as of June 30, 2026 and July 21, 2026, respectively. During the second quarter of 2026, we modified our $150.0 million unsecured bank term loan to extend the maturity date from May 2027 to June 2029. The term can be extended for two additional years at our option, assuming no defaults have occurred. The interest rate is SOFR plus 90 basis points, based on current credit ratings. The interest rate is based on the higher of the publicly announced ratings from Moody’s Investors Service or Standard & Poor’s Ratings Services. The interest rate may be adjusted upward or downward by 2.5 basis points depending upon whether or not we achieve certain pre-determined sustainability goals with respect to the ongoing reduction of greenhouse gas emissions. We incurred $1.4 million of debt issuance costs, which are being amortized along with certain existing unamortized debt issuance costs over the remaining term of our modified term loan, and recorded $0.1 million of loss on debt extinguishment. During the second quarter of 2026, we repurchased an aggregate of $11.0 million principal amount of unsecured notes due March 2027. We are currently in compliance with financial covenants with respect to our consolidated debt. We have considered our short-term liquidity needs within one year from July 28, 2026 (the date of issuance of the quarterly financial statements) and the adequacy of our estimated cash flows from operating activities and other available financing sources to meet these needs. In particular, we have given consideration to our scheduled debt maturities during such one-year period, which consists of $289.1 million principal amount of unsecured notes that are scheduled to mature in March 2027. We have concluded it is probable we will meet these short-term liquidity requirements through a combination of the following: •available cash and cash equivalents; •cash flows from operating activities; •issuance of debt securities by the Operating Partnership; •secured debt; •bank term loans; •borrowings under our revolving credit facility; 23 Table of Contents •issuance of equity securities by the Company or the Operating Partnership; and •the disposition of non-core assets. 7. Noncontrolling Interests Noncontrolling Interests in Consolidated Affiliates As of June 30, 2026, our noncontrolling interest in consolidated affiliates relates to our joint venture partners’ 20.0% interest in the Midtown West joint venture, 90.0% interest in the Bloc 83 joint venture and 20.0% interest in the Terraces joint venture. Each of our joint venture partners is an unrelated third party. Noncontrolling Interests in the Operating Partnership The following table sets forth the Company’s noncontrolling interests in the Operating Partnership: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Beginning noncontrolling interests in the Operating Partnership $ 43,189 $ 63,759 $ 52,777 $ 65,791 Adjustment of noncontrolling interests in the Operating Partnership to fair value 16,943 3,829 8,509 927 Conversions of Common Units to Common Stock — — (700) — Redemptions of Common Units — — (24) (10) Net income attributable to noncontrolling interests in the Operating Partnership 1,716 365 2,295 2,321 Distributions to noncontrolling interests in the Operating Partnership (1,008) (1,075) (2,017) (2,151) Total noncontrolling interests in the Operating Partnership $ 60,840 $ 66,878 $ 60,840 $ 66,878 The following table sets forth net income available for common stockholders and transfers from the Company’s noncontrolling interests in the Operating Partnership: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net income available for common stockholders $ 93,474 $ 18,270 $ 124,837 $ 115,719 Increase in additional paid in capital from conversions of Common Units to Common Stock — — 700 — Redemptions of Common Units — — 24 10 Change from net income available for common stockholders and transfers from noncontrolling interests $ 93,474 $ 18,270 $ 125,561 $ 115,729 24 Table of Contents 8. Disclosure About Fair Value of Financial Instruments The following summarizes the levels of inputs that we use to measure fair value. Level 1. Quoted prices in active markets for identical assets or liabilities. Our Level 1 asset is our investment in marketable securities that we use to pay benefits under our non-qualified deferred compensation plan. Our Level 1 liability is our non-qualified deferred compensation obligation. The Company’s Level 1 noncontrolling interests in the Operating Partnership relate to the ownership of Common Units by various individuals and entities other than the Company. Level 2. Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities. Our Level 2 assets include the fair value of our mortgages and notes receivable. Our Level 2 liabilities include the fair value of our mortgages and notes payable and any interest rate swaps. The fair value of mortgages and notes receivable and mortgages and notes payable is estimated by the income approach, which uses contractual cash flows and market-based interest rates to approximate the price that would be paid in an orderly transaction between market participants. The fair value of any interest rate swaps is determined using the market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments. The variable cash payments of interest rate swaps are based on the expectation of future interest rates (forward curves) derived from observed market interest rate curves. In addition, credit valuation adjustments are considered in the fair values to account for potential nonperformance risk, but were concluded to not be significant inputs to the calculation for the periods presented. Level 3. Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Our Level 3 assets include any real estate assets recorded at fair value on a non-recurring basis as a result of our quarterly impairment analysis, which are valued using unobservable local and national industry market data such as comparable sales, appraisals, brokers’ opinions of value and/or the terms of definitive sales contracts. Significant increases or decreases in any valuation inputs in isolation would result in a significantly lower or higher fair value measurement. 25 Table of Contents The following table sets forth our assets and liabilities and the Company’s noncontrolling interests in the Operating Partnership that are measured or disclosed at fair value within the fair value hierarchy: Level 1 Level 2 Total Quoted Prices in Active Markets for Identical Assets or Liabilities Significant Observable Inputs Fair Value as of June 30, 2026: Assets: Mortgages and notes receivable, at fair value (1) $ 12,228 $ — $ 12,228 Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 849 849 — Total Assets $ 13,077 $ 849 $ 12,228 Noncontrolling Interests in the Operating Partnership $ 60,840 $ 60,840 $ — Liabilities: Mortgages and notes payable, net, at fair value (1) $ 3,414,212 $ — $ 3,414,212 Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 849 849 — Total Liabilities $ 3,415,061 $ 849 $ 3,414,212 Fair Value as of December 31, 2025: Assets: Mortgages and notes receivable, at fair value (1) $ 12,228 $ — $ 12,228 Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 1,396 1,396 — Total Assets $ 13,624 $ 1,396 $ 12,228 Noncontrolling Interests in the Operating Partnership $ 52,777 $ 52,777 $ — Liabilities: Mortgages and notes payable, net, at fair value (1) $ 3,471,003 $ — $ 3,471,003 Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 1,396 1,396 — Total Liabilities $ 3,472,399 $ 1,396 $ 3,471,003 __________ (1) Amounts are not recorded at fair value on our Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025. 26 Table of Contents 9. Share-Based Payments During the six months ended June 30, 2026, the Company granted 271,458 shares of time-based restricted stock and 160,796 shares of total return-based restricted stock with weighted average grant date fair values per share of $22.80 and $24.02, respectively. We recorded share-based compensation expense of $1.0 million and $1.3 million during the three months ended June 30, 2026 and 2025, respectively, and $7.4 million and $6.3 million during the six months ended June 30, 2026 and 2025, respectively. As of June 30, 2026, there was $6.3 million of total unrecognized share-based compensation costs, which will be recognized over a weighted average remaining contractual term of 2.3 years. 10. Real Estate and Other Assets Held For Sale The following table sets forth our assets held for sale, which are considered non-core: June 30, 2026 December 31, 2025 Assets: Land $ 9,374 $ 3,454 Buildings and tenant improvements 79,573 42,123 Less-accumulated depreciation (41,643) (25,468) Net real estate assets 47,304 20,109 Accrued straight-line rents receivable 2,965 2,083 Deferred leasing costs, net 3,488 1,006 Prepaid expenses and other assets, net 143 3 Real estate and other assets, net, held for sale $ 53,900 $ 23,201 27 Table of Contents 11. Earnings Per Share and Per Unit The following table sets forth the computation of basic and diluted earnings per share of the Company: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Earnings per Common Share - basic: Numerator: Net income $ 96,757 $ 19,221 $ 130,122 $ 119,221 Net (income) attributable to noncontrolling interests in the Operating Partnership (1,716) (365) (2,295) (2,321) Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (993) — (1,842) 26 Dividends on Preferred Stock (574) (586) (1,148) (1,207) Net income available for common stockholders $ 93,474 $ 18,270 $ 124,837 $ 115,719 Denominator: Denominator for basic earnings per Common Share – weighted average shares (1) 110,284 107,825 110,162 107,754 Net income available for common stockholders $ 0.85 $ 0.17 $ 1.13 $ 1.07 Earnings per Common Share - diluted: Numerator: Net income $ 96,757 $ 19,221 $ 130,122 $ 119,221 Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (993) — (1,842) 26 Dividends on Preferred Stock (574) (586) (1,148) (1,207) Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership $ 95,190 $ 18,635 $ 127,132 $ 118,040 Denominator: Denominator for basic earnings per Common Share – weighted average shares (1) 110,284 107,825 110,162 107,754 Add: Noncontrolling interests Common Units 2,017 2,151 2,020 2,151 Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions 112,301 109,976 112,182 109,905 Net income available for common stockholders $ 0.85 $ 0.17 $ 1.13 $ 1.07 __________ (1)Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable. 28 Table of Contents The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Earnings per Common Unit - basic: Numerator: Net income $ 96,757 $ 19,221 $ 130,122 $ 119,221 Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (993) — (1,842) 26 Distributions on Preferred Units (574) (586) (1,148) (1,207) Net income available for common unitholders $ 95,190 $ 18,635 $ 127,132 $ 118,040 Denominator: Denominator for basic earnings per Common Unit – weighted average units (1) 111,892 109,567 111,773 109,496 Net income available for common unitholders $ 0.85 $ 0.17 $ 1.14 $ 1.08 Earnings per Common Unit - diluted: Numerator: Net income $ 96,757 $ 19,221 $ 130,122 $ 119,221 Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (993) — (1,842) 26 Distributions on Preferred Units (574) (586) (1,148) (1,207) Net income available for common unitholders $ 95,190 $ 18,635 $ 127,132 $ 118,040 Denominator: Denominator for basic earnings per Common Unit – weighted average units (1) 111,892 109,567 111,773 109,496 Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions 111,892 109,567 111,773 109,496 Net income available for common unitholders $ 0.85 $ 0.17 $ 1.14 $ 1.08 __________ (1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable. 12. Segment Information Our principal business is the operation, acquisition and development of rental office properties. We evaluate our business by geographic location, which is why our primary geographic locations are included as reportable segments below. The operating results by geographic grouping are regularly reviewed by our chief operating decision maker for assessing performance and other purposes. Our chief executive officer is our chief operating decision maker. There are no material inter-segment transactions. Our accounting policies of the segments are the same as those used in our Consolidated Financial Statements. All operations are within the United States. 29 Table of Contents The following tables summarize rental and other revenues, rental property and other expenses and net operating income for each of our reportable segments. Net operating income is the primary industry property-level performance metric used by our chief operating decision maker and is defined as rental and other revenues less rental property and other expenses. Our chief operating decision maker uses net operating income to help assess segment performance and decide how to allocate resources accordingly. Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Rental and other revenues: Atlanta $ 36,403 $ 36,299 $ 72,917 $ 71,893 Charlotte 29,244 21,910 56,892 43,966 Dallas 3,367 — 6,024 — Nashville 36,998 39,653 75,197 79,197 Orlando 14,660 14,544 29,201 28,840 Raleigh 52,529 44,815 104,133 89,309 Richmond 6,887 9,318 14,639 18,496 Tampa 23,747 21,174 46,123 43,886 Rental and other revenues for reportable segments 203,835 187,713 405,126 375,587 Other 12,544 12,887 25,287 25,396 Total rental and other revenues 216,379 200,600 430,413 400,983 Rental property and other expenses: Atlanta 14,247 13,467 29,020 27,835 Charlotte 7,890 6,003 16,037 11,844 Dallas 1,163 — 1,996 — Nashville 10,992 11,017 21,385 22,374 Orlando 5,669 5,495 10,776 11,037 Raleigh 13,724 11,628 27,921 23,361 Richmond 1,958 2,605 5,181 5,608 Tampa 8,616 7,846 16,815 16,455 Rental property and other expenses for reportable segments 64,259 58,061 129,131 118,514 Other 5,896 5,594 12,142 10,175 Total rental property and other expenses 70,155 63,655 141,273 128,689 Net operating income: Atlanta 22,156 22,832 43,897 44,058 Charlotte 21,354 15,907 40,855 32,122 Dallas 2,204 — 4,028 — Nashville 26,006 28,636 53,812 56,823 Orlando 8,991 9,049 18,425 17,803 Raleigh 38,805 33,187 76,212 65,948 Richmond 4,929 6,713 9,458 12,888 Tampa 15,131 13,328 29,308 27,431 Net operating income for reportable segments 139,576 129,652 275,995 257,073 Other 6,648 7,293 13,145 15,221 Total net operating income $ 146,224 $ 136,945 $ 289,140 $ 272,294 30 Table of Contents Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Reconciliation to net income: Depreciation and amortization $ (79,054) $ (74,679) $ (156,591) $ (146,084) General and administrative expenses (9,897) (10,319) (23,331) (22,776) Interest expense (41,694) (37,665) (83,390) (74,307) Other income 2,568 4,629 5,736 6,254 Gains on disposition of property 79,024 — 95,987 82,215 Equity in earnings/(losses) of unconsolidated affiliates (414) 310 2,571 1,625 Net income $ 96,757 $ 19,221 $ 130,122 $ 119,221 13. Subsequent Events On July 22, 2026, the Company declared a cash dividend of $0.50 per share of Common Stock, which is payable on September 9, 2026 to stockholders of record as of August 17, 2026. On July 7, 2026, the Midtown East joint venture obtained a two-tranche secured mortgage loan from a third party lender. The first tranche consists of a $44.8 million secured loan that was used to repay the $43.8 million balance on a secured construction loan that we previously provided the joint venture. The second tranche consists of a $10.9 million non-revolving line of credit. As of July 7, 2026, less than $0.1 million was drawn on the line of credit. Both tranches bear interest at SOFR plus 205 basis points and are scheduled to mature in July 2036. In connection with this loan, the Midtown East joint venture obtained interest rate hedge contracts that effectively fix the weighted average rate of both tranches at 6.3%. 31 Table of Contents