Brandywine Realty Trust (BDN) Registration Filing summary

Company overview and business model

• Operates as a self-administered and self-managed REIT focused on office, life science/lab, residential, and mixed-use properties, primarily through its operating partnership and subsidiaries.

• Organized in 1986 as a Maryland REIT; the operating partnership was formed in 1996 as a Delaware limited partnership.

• Owns and manages assets through the operating partnership, with a 99.7% ownership interest as of December 31, 2025.

Financial performance and metrics

• Financial statements and internal control effectiveness are audited by PricewaterhouseCoopers LLP and incorporated by reference from the 2025 Annual Report.

• Key financial covenants include a maximum consolidated indebtedness of 60% of total assets and a minimum unencumbered assets coverage of 150% of unsecured indebtedness.

Use of proceeds and capital allocation

• Net proceeds from securities sales are expected to be contributed to the operating partnership for additional partnership interests.

• Proceeds will be used for general business purposes, including working capital, capital expenditures, debt repayment/refinancing, and property acquisitions or development.