COPT Defense Properties (CDP) investor relations material

Opening remarks and agenda

• Meeting called to order by the Chairman, with all trustees present and participating.

• Administrative instructions provided for voting and submitting questions via the virtual platform.

• Meeting held on May 14, 2026, with a focus on reviewing 2025 achievements and a strong start to 2026.

• Agenda included three proposals: election of trustees, advisory vote on executive compensation, and ratification of the auditor.

Financial performance review

• FY 2025 FFO per share was $2.72, 2 cents above midpoint of revised guidance, with 5.8% year-over-year growth.

• 1Q26 FFO per share was $0.69, 1 cent above guidance, with 6.2% year-over-year growth.

• Occupancy rate exceeded 94% for 13 consecutive quarters; leased rate ≥95% for 9 consecutive quarters.

• Same property cash NOI increased, and retention rate reached 91% in 1Q26.

• Outperformed S&P 500, Equity REIT, and Office REIT indices in 2026 YTD with a 14.5% price return.

Dividend announcements

• Dividend increased by 16.4% since 2022, including a 4.9% increase announced in February 2026.