Cousins Properties (CUZ) Investor presentation summary

Portfolio overview

• 100% Sun Belt, 100% Class A office portfolio with an average year built of 2011 and 90.7% leased as of year-end 2025.

• 72% of the portfolio delivered or redeveloped since 2010, emphasizing modern, amenity-rich assets.

• Properties command asking rents 20% above pre-pandemic levels and 31% higher than Class A market averages.

• Portfolio spans major Sun Belt markets: Austin (36%), Atlanta (31%), Charlotte (9%), Tampa (8%), Phoenix (8%), Dallas (5%), Houston (3%), and Nashville.

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

Market and demand trends

• Sun Belt migration is driving outsized population and job growth, supporting office demand.

• Flight to quality is increasing demand for newer, highly-amenitized office assets.

• Leasing volumes in Sun Belt markets have exceeded pre-pandemic levels for over a year.

• Office supply is shrinking due to record low groundbreakings and high conversion rates, likely leading to a shortage of high-quality space.

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

Growth strategy and capital allocation

• Strategic recycling of older assets improves portfolio quality and cash flows.

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

• Active development pipeline of 916K SF and a land bank supporting 5.3MM SF of future projects.

• Record leasing pipeline with over 1.2MM SF in negotiations or signed quarter-to-date.

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