Alexandria Real Estate Equities (ARE) investor relations material

Executive summary

• The 2026 annual meeting will address the election of eight directors, a non-binding advisory vote on executive compensation, and ratification of Ernst & Young LLP as independent auditors for 2026.

• The company faced a challenging 2025 with industry-wide oversupply, declining demand, and macroeconomic headwinds, leading to a projected further decline in occupancy and rental rates in 2026.

• Strategic actions include reducing construction spending, executing a large-scale non-core asset disposition program, and focusing on the Megacampus platform to drive long-term growth.

• The company preserved balance sheet strength by maintaining high liquidity, reducing dividends, and proactively managing debt.

• General and administrative expenses were reduced by 30% in 2025, with further savings expected in 2026.

Voting matters and shareholder proposals

• Shareholders will vote on the election of eight directors, a say-on-pay advisory resolution, and the ratification of Ernst & Young LLP as auditors.

• The board recommends voting FOR all proposals.

• Shareholders have enhanced rights, including proxy access and the ability to amend bylaws by majority vote.

Board of directors and corporate governance

• Seven of eight director nominees are independent; the board is regularly refreshed, with two new independent directors since 2023.

• The board opted out of Maryland’s supermajority director removal requirement, now allowing removal by majority vote.

• Stock ownership guidelines, anti-hedging, and anti-pledging policies are in place for directors and executives.

• The board and committees conduct annual self-evaluations and maintain robust succession planning.