Cousins Properties (CUZ) investor relations material

Portfolio overview

• 100% Sun Belt, 100% Class A office portfolio with an average year built of 2013 and 91.8% leased as of Q1 2026.

• 76% of the portfolio delivered or redeveloped since 2010, emphasizing modern, amenity-rich assets.

• Properties are concentrated in high-growth markets: Austin (34%), Atlanta (31%), Charlotte (11%), with additional presence in Phoenix, Dallas, Nashville, Houston, and Tampa.

• Portfolio commands asking rents 21% above pre-pandemic levels and 30% higher than Class A averages in core markets.

• Amenity-rich assets include on-site dining, retail, outdoor spaces, and state-of-the-art fitness centers.

Market and demand trends

• Sun Belt migration continues to drive outsized population and job growth, supporting office demand.

• Flight to quality is leading tenants to newer, highly-amenitized buildings, with 76% of NOI from assets developed or redeveloped since 2010.

• Sun Belt leasing volumes have exceeded pre-pandemic levels for over a year, while national office supply is shrinking due to low groundbreakings and high conversions.

• Companies are increasing in-office attendance, with Fortune 100 employers averaging four days per week in the office.

Growth strategy and capital allocation

• Modest lease expirations well below sector average, supporting stable occupancy.

• Near record-level leasing pipeline with 1 million SF in negotiations or signed quarter-to-date.

• Strategic recycling of older assets has reduced average portfolio age from 28 to 13 years since 2015.

• Over $1.4 billion in new acquisitions since 2024, focused on core Sun Belt markets.

• 903K SF of recently delivered development and a land bank supporting 5.6MM SF of future projects.