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Kilroy Realty Corp (KRC) · 30 slides · Filed Oct 22, 2026
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Slide 1 — Corporation
Where Innovation Works Kilroy Realty Corporation Investor Presentation March 2026 Kilroy Oyster Point Phase 2 | South San Francisco, CA
Slide 2 — Company Overview
Where Innovation Works Where Innovation Works Company Overview 2
Slide 3 — Who is Kilroy?
Who is Kilroy? 3 − Kilroy Realty Corporation (“KRC” or the “Company”) is a leading, publicly traded owner and operator of Class A office and life science properties, with assets in the San Francisco Bay Area, Los Angeles, San Diego, Seattle, and Austin • KRC’s tenant roster is comprised of high -quality, well -capitalized companies, approximately 45% of which are investment -grade rated (1) − KRC provides premium, adaptable, and innovative workplaces that foster collaboration and productivity for tenants in a wide range of industries, including technology, life sciences, professional, business, and financial services, and media PORTFOLIO QUICK FACTS Rentable Square Feet (“RSF”) – Stabilized Portfolio 16.3M Office and Life Science Properties 121 Stabilized Occupancy (%) / Leased (%) 81.6% / 83.8% Signed But Not Commenced Space 220bps TOP 10 TENANTS BY ABR (1) Tenant % of ABR (1) % of RSF Credit Ratings (S&P / Moody’s) Global Technology Company 5.9% 5.2% AA+ / Aaa 4.6% 2.3% BBB / Baa2 4.3% 2.6% NR / NR 3.7% 3.3% A+ / A1 3.2% 2.9% A+ / A1 3.2% 1.8% NR / NR 3.1% 1.5% NR / NR 2.9% 2.2% A / A3 2.4% 1.4% NR / NR 2.2% 1.8% NR / NR Top 10 Total 35.5% 25.0% San Francisco 27% Other Bay Area 17% Los Angeles 20% San Diego 19% Seattle 14% Austin 3% ABR (1) % by Region Technology 51% Life Science & Health Care 19% Professional, Business, and Other Services 9% F.I.R.E. 7% Media 6% Other 8% ABR (1) % by Industry (1) Based on consolidated annualized base rental revenues (“ABR”) as of December 31, 2025.
Slide 4 — 827K SF
4 Record Leasing Achieved in 2025 Recent Leasing Performance 827K SF of Leases Signed in Q4 2025 2.1M SF of Leases Signed in 2025 +65% Leasing Pipeline Growth, Year -over -Year Q4 Leasing Highlights: 280K SF, New Lease − Signed a 280K SF, full -building lease with the University of California, San Francisco (“UCSF”) at Kilroy Oyster Point Phase 2 (“KOP 2”) in South San Francisco, reinforcing the campus’s status as a premier life science destination 93K SF, New Lease − Signed a 93K SF, lease with Fitler Club at Columbia Square in Hollywood, backfilling the former NeueHouse space in the same quarter it was vacated, demonstrating the strong appeal of the Columbia Square campus − Momentum strengthened throughout the year as quarterly leasing volumes steadily climbed, ultimately resulting in KRC’s larges t fourth quarter of leasing activity and strongest annual leasing performance in six years 0K 100K 200K 300K 400K 500K 600K 700K 800K 900K Q1 2025 Q2 2025 Q3 2025 Q4 2025 2025 Leasing by Quarter
Slide 5 — Why Kilroy?
5 An Opportunity to Capitalize on the Ongoing West Coast Recovery Why Kilroy? Best -In-Class Real Estate Uniquely Positioned to Benefit From Flight to Quality Dynamics – KRC is distinguished by its Class A, well -located, and thoughtfully amenitized portfolio, its strong tenant relationships, and its reputation in the market, as tenants increasingly prioritize high quality buildings and sponsors to meet their growth objectives Strong Balance Sheet and Robust Liquidity Profile – KRC’s well -laddered debt maturity profile, robust liquidity position, and substantial unencumbered asset base provide valuable financial and operational flexibility in a rapidly evolving environment Disciplined Approach to Capital Allocation – KRC has a proven track record of value -enhancing capital allocation across cycles – Ongoing disruption is creating compelling opportunities for well -capitalized owners with unique local market insight 333 Dexter | Seattle, CA Strengthening Fundamentals Across the Company’s West Coast Markets – Fueled by rising levels of venture capital (“VC”) funding, a rapidly expanding artificial intelligence (“AI”) sector, and return -to-office momentum, KRC represents a compelling opportunity to capitalize on improving commercial real estate fundamentals across major West Coast markets
Slide 6 — Kilroy’s Strategic Approach
6 A Disciplined Strategy Focused on Quality, Durability, and Growth Kilroy’s Strategic Approach HIGH -QUALITY PORTFOLIO − Maintain a best -in-class portfolio by investing in modern, sustainable, and highly amenitized office and life science properties − Leverage KRC’s proven track record in repositioning and development to create environments that attract and retain top - tier tenants DURABLE AND GROWING CASH FLOW − Secure long -term commitments with high - credit tenants across diverse industries, while also prudently capturing demand from earlier - stage growth companies, appropriately balancing stability and opportunity − Capitalize on KRC’s premier assets and operational expertise to maximize operating margins and the long - term growth potential of the portfolio PRUDENT CAPITAL ALLOCATION − Balance capital recycling, redevelopment, and development to enhance portfolio value while ensuring strong risk -adjusted returns − Deploy capital with discipline, includin g selective reinvestment into submarkets and properties with superior long -term demand drivers, stock repurchases, and debt reduction DISCIPLINED BALANCE SHEET MANAGEMENT − Preserve financial flexibility with conservative leverage, a well -laddered debt maturity profile, a robust liquidity position, and a substantial unencumbered asset base − Maintain a strong investment -grade balance sheet to support long -term growth PLATFORM EXCELLENCE − Drive efficiency, scalability, and innovation across business functions through a unified platform that integrates technology, data, and process optimization − Foster collaboration and leverage advanced analytics to enhance decision -making and enable continuous improvement across the organization
Slide 7 — West Coast Opportunity
Where Innovation Works Where Innovation Works 7 West Coast Opportunity
Slide 8 — West Coast Opportunity
The West Coast Remains the Nation’s Leading Hub of Innovation and Discovery West Coast Opportunity − Unparalleled Access to Capital – Approximately 70% (1) of all US VC investment flows through KRC’s markets, fueling the growth of high - potential startups and established companies alike • The substantial concentration of AI and emerging technolog y investments within KRC’s markets ha s recently meaningfully accelerated the demand for high -quality, well -located office and life science space − Thriving Innovation Ecosystem – KRC ’s markets lead the nation in research and development (“R&D”) spending, accounting for approximately 50% (2) of total US business R&D investment, fostering cutting -edge advancements in AI, biotech, and clean technology − Access to Educated Workforce – KRC’s West Coast markets are home to many premier academic and research institutions, supplying a deep , broad -based talent pool Note: Square footage is based on stabilized assets as of December 31,2025. (1) PitchBook TTM as of December 31, 2025. (2) National Science Board as of 2023. 8 KRC’s high quality West Coast portfolio is uniquely positioned to benefit from the substantial investments being made in AI and emerging technologies
Slide 9 — West Coast Opportunity
AI is Positively Reshaping Office and Life Science Demand in Major Innovation Driven West Coast Markets West Coast Opportunity 9 AI is positively reshaping demand and reinforcing the strategic importance of well -located real estate, particularly in the Bay Area, where concentrations of VC funding and talent are supporting a sustained market recovery − National VC funding in the AI sector has surged dramatically ove r the last two years, with 2025 funding exceeding $200B, nearly double 2024 levels and representing over 60% of total VC funding • The San Francisco Bay Area represented ~70% of total AI VC funding in 2025 − The growth in the AI sector has translated into meaningful leasing demand, with AI companies signing ~2.9M SF of leases in San Francisco durin g 2025, representing approximately 27% of all leasing activity − While San Francsico’s office market recovery has been broad - based, AI’s rapid expansion is positively reshaping demand across West Coast tech markets, with new company formation and fast -scaling AI firms meaningfully contributing to a significant pickup in activity Source: PitchBook and CBRE. 1.7M 2.0M 2.9M 1.4M 1.6M 1.8M 2.4M 2.6M 3.8M 5.2M 7.0M 27% 24% 27% 0% 10% 20% 30% 40% 0.0M SF 2.0M SF 4.0M SF 6.0M SF 8.0M SF 2018 2019 2020 2021 2022 2023 2024 2025 San Francisco AI Leasing Leasing Activity Total Footprint Share of Total Leasing 50% 63% 0% 20% 40% 60% 80% $0B $75B $150B $225B 2019 2020 2021 2022 2023 2024 2025 AI VC Funding in the US and Bay Area San Francisco Other Bay Area Rest of US AI Share of Total VC Funding 70%
Slide 10 — West Coast Opportunity
AI is Positively Reshaping Office and Life Science Demand in Major Innovation Driven West Coast Markets West Coast Opportunity 10 − While AI leasing may appear modest on a deal -by -deal basis, the underlying demand signal is far more powerful. Roughly 90 %(1) of AI leases signed to date have been expansionary, and when AI companies scale, their follow -on requirements are typically two to five times larger than their original footprint, highlighting the sector’s outsized long -term growth potential − KRC has successfully capitalized on this momentum, securing two of the top ten AI leases signed in San Francisco during 2025 ⎼ AI’s growth cycle is also influencing large enterprise occupiers, who are beginning to re -occupy space or re -engage on expansion plans that had been previously deferred • Re-occupy: Google recently withdrew ~1.2M SF of sublease space from the market in Mountain View and Sunnyvale • Expand: Seven of the top ten tech leases in the San Francisco Bay Area during 2025 were expansionary, underscoring a meaningful return to growth Source: JLL and CBRE . (1) CBRE data since 2016. Top 10 AI Leases in San Francisco in 2025 Tenant SF 257,817 150,000 104,345 98,238 92,814 87,406 78,741 73,225 72,486 57,530 Together , these trends point to a healthy, innovation -led rebound, with both emerging AI firms and established occupiers productively re -engaging with high -quality office environments across the West Coast
Slide 11 — West Coast Opportunity
Innovation Fuels Growth in Office -Using Jobs West Coast Opportunity 11 ⎼ Throughout every major historical technological advancement , office -using employment has grown, and total occupied office space has grown with it. Each new wave of innovation introduced entirely new teams, functions, and categories of work • As work became more digital and interconnected, companies shifted people into higher -value, collaborative roles that relied on problem -solving and cross -functional coordination ⎼ Looking ahead, forecasts point to the same trajectory. By 2030, the World Economic Forum expects approximately 170M jobs created and 92M displaced, a net gain of 78M jobs , implying roughly 7% workforce growth • AI and information processing are expected to be net contributors, adding approximately 11M roles while displacing about 9M 15.0 20.0 25.0 30.0 35.0 40.0 1.5 2.0 2.5 3.0 3.5 4.0 Office -Using Jobs (millions) Square Feet (billions) Total Occupied Office Square Footage (LHS) Office Using-Employment (RHS) Late 1980s / early 1990s: PC use, early e -mail 1994: Netscape founded, early Internet 2000: NASDAQ dot -com peak 1998: Google founded, early search 2004: Meta founded, early social media 2008: Lehman Brothers collapse 2009: WhatsApp founded, early mobile IM 2022: ChatGPT released, early AI 2007: iPhone release, early smart phone 2007 -2011: Various cloud services founded, early cloud 2020: WHO declares COVID -19 a pandemic Impact of Key Technology Milestones on Office -Using Employment and O ccupied S quare Footage 2025: Agentic AI Source: The National Bureau of Economic Research, Oxford Economics, CBRE -EA, and World Economic Forum, Future of Jobs Survey 2024.
Slide 12 — West Coast Opportunity
Labor Markets Remain Resilient Despite AI Disruption Fears West Coast Opportunity 12 ⎼ Despite intense narratives about imminent AI -driven job loss, current labor indicators show no signs of broad disruption. Unemployment remains low at 4.3% and software -engineering job postings are up 11% year -over -year ⎼ Given that technological adoption typically follows an S -curve, its impact on labor unfolds gradually: firms adopt new tools cautiously, integration accelerates as use cases mature, and eventually levels off as practical limits emerge • Early adoption is slow because organizations must validate reliability, rebuild workflows, and develop the skills and governance needed to use the technology safely. Adoption only accelerates once these complementary foundations are in place, and ultimately plateaus as firms reach the natural limits of what can be automated or optimized • This trajectory is validated by recent surveys that suggest that although a high percent of businesses are using AI for at lease one business function, only 7% of companies are operating at scale and the majority are “experimenting” or “piloting” ⎼ This gradual trajectory means even powerful technologies reshape labor markets over years, not days, giving employers and workers time to adapt, retrain, and shift into higher -value roles Source: US Bureau of Labor Statistics , Citadel Securities, McKinsey, and Indeed . (1) Data is indexed as of February 1, 2020 60 62 64 66 68 70 72 74 Indeed Job Postings for Software Engineers (1)
Slide 13 — Update
Where Innovation Works Where Innovation Works 13 Kilroy Oyster Point Phase 2 Update
Slide 14 — KOP 2 Update
14 KOP 2 Update Project Overview Project Overview: – KOP 2 is a three -building, 875K SF life science development within KRC’s broader five - phase KOP project, located on a 50 -acre waterfront site in the heart of the Bay Area’s most significant life science cluster. KOP 2 entered the stabilized portfolio in January 2026 – Purpose -built to meet the needs of leading life science tenants, KOP 2 was designed with specialized infrastructure, flexible lab configurations, and robust building systems to support even the most demanding research and development requirements KOP 2 | South San Francisco, CA ~875,000 SF across three buildings ~40,000 SF large open floor plates 16 FT. typical floor -to-floor height; 13 ft. floor -to-ceiling height ~90,000 SF move -in ready lab spaces 22 FT. X 33 FT. typical column spacing ±4,000 MIPS (“micro inches per second”) market -leading vibration performance
Slide 15 — 384K SF
280K SF Expected Occupancy: Q4 2027 44K SF Expected Occupancy: Q4 2026 24K SF Expected Occupancy: Q1 2026 20K SF Occupancy: Q4 2025 16K SF Expected Occupancy: Q2 2026 Substantial Leasing Progress Made During 2025 KOP 2 Update KOP 2 is benefiting from a material improvement in life science sentiment and activity, with 384K SF of leases executed to da te Note: Leases executed as of October 28, 2025. 384K SF Leases Signed 44% Leased 3% Occupied 15 Undisclosed Life Science Company
Slide 16 — KOP 2 Update
61% -37% 72% -43% 18% -60% -40% -20% 0% 20% 40% 60% 80% 100% 2017 2018 2019 2020 2021 2022 2023 2024 2025 Annual Change, XBI and US Lab Deals Lab Leases XBI 16 KOP 2 Update Encouraging Forward Indicators Have Emerged Across the Life Science Secto r – Biotech equities have meaningfully outperformed in recent months, a trend that has historically preceded a pickup in lab leasing – Capital markets are showing signs of strength, with expectations for robus t M&A and IPO activity, supported by several recently announced strategic acquisitions and capital raises – Regulatory progress is adding to this constructive backdrop as well, with initiatives like the FDA’s new PreCheck program aimed at creating greater clarity and efficiency for domestic pharmaceutical manufacturing – The innovation pipeline remains exceptionally active, with more than 50 novel therapies anticipated to receive FDA approval in 2026, reflecting continued momentum in scientific advancement and investment - 20 40 60 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026E FDA Novel Drug Approvals Source: JLL, FDA, and Evaluate Pharma .
Slide 17 — KOP 2 Update
17 KOP 2 Update Encouraging Forward Indicators Have Emerged Across the Life Science Sector – Biopharma sentiment has strengthened across virtuall y every metric, with Q1 2026 showing meaningful improvements in business conditions, funding expectations, and hiring outlook – The composition of lab -market leasing activity is also beginning to shift, with relocations ticking up and in -place renewals dropping, as tenants show greater willingness to move in order to secure space that supports their long -term business needs • For KOP 2, this shift is particularly constructive, as increased tenant mobility expands the pool of active prospects seeking up graded , well -amenitized , purpose -built space Source: JLL and Endpoints Signal . 0 10 20 30 40 50 60 70 80 90 100 US Lab Leases, Lease Type, 6 -Month Rolling Average Relocations In-Place Biopharma Sentiment Rises Across Every Metric Current Business Conditions Current Funding Climate Current Finances of Own Organization Current Regulatory Environment Current Hiring at Own Organization Future Business Conditions Future Funding Climate Future Finances of Own Organization Future Regulatory Environment Future Headcount Outlook (neutral) 4Q25 1Q26
Slide 18 — Capital Allocation
Where Innovation Works Where Innovation Works 18 Capital Allocation
Slide 19 — Investment Update
Investment Update Strategic Capital Allocation 2025 Year in Review: $465M OF DISPOSITIONS (1) $395M OF ACQUISITIONS $165M OF LAND PARCELS UNDER CONTRACT − As part of the Company’s broader strategy to enhance portfolio resilience and drive long -term cash flow durability and growth , KRC is recycling capital in a disciplined manner designed to position the Company for outperformance in an evolving market environment • KRC is harvesting capital from assets where value has been maximized, while evaluating all redeployment options, including selective reinvestment into submarkets and properties with superior long -term demand drivers, stock repurchases, and debt reduction 19 Note: As of December 31, 2025. (1) Does not include assets classified as Held for Sale.
Slide 20 — Capital Markets Transactions
20 Capital Markets Transactions Recent Strategic Dispositions 501 Santa Monica Disposition (Santa Monica, CA): ⎼ Transaction Overview: In June, sold 501 Santa Monica, a ~79K SF, seven -story office property, for $40M ⎼ Cash Flow Optimization: Monetized a low-growth, capital -intensive asset at attractive returns Sunset Media Center Disposition (Los Angeles, CA) ⎼ Transaction Overview: In December, sold Sunset Media Center, a ~326K SF, 22 -story office tower in Hollywood, for $61M ⎼ Targeted Capital Recycling: While Hollywood remains an important creative hub, the submarket has softened, and the significant investment required to reposition this asset supported the decision to recycle capital into higher conviction opportunities Sunnyvale Campus (Sunnyvale, CA) ⎼ Transaction Overview: In September, sold a four - building , ~663K SF campus in Silicon Valley, for $365M ⎼ Successful Execution: Unlocked attractively -priced capital through a sale to an owner/occupier , while avoiding future near -term vacancy and dilutive capital spend Kilroy Sabre Springs (San Diego, CA) ⎼ Transaction Overview: In January 2026, sold Kilroy Sabre Springs, a ~428K SF, Class A office campus, for $125M ⎼ Targeted Capital Recycling: Fundamentals in the I-15 Corridor submarket have not kept pace with strength in clusters such as Del Mar and Torrey Pines . Efficiently harvested capital through a sale to an owner/occupier 501 Santa Monica | Santa Monica, CA Sunnyvale Campus | Sunnyvale, CA Sunset Media Center | Los Angeles, CA Kilroy Sabre Springs | San Diego, CA
Slide 21 — Capital Markets Transactions
21 Capital Markets Transactions Recent Strategic Acquisitions Maple Plaza | Beverly Hills, CA Nautilus | San Diego, CA Maple Plaza Acquisition (Beverly Hills, CA) ⎼ Transaction Overview: In September, acquired Maple Plaza, a 306K SF office building in Beverly Hills, for $205M ⎼ Strategic Rationale: Transaction marked KRC’s first entry into one of the highest performing submarkets in Los Angeles. Maple Plaza is situated in a prime location near the Beverly Hills Triangle with a strong, diversified tenant mix. Beverly Hills is a s upply -constrained submarket with limited vacancy, robust demand, sustained rent growth, and rising weekday traffic Nautilus Acquisition (San Diego, CA) ⎼ Transaction Overview: In December, acquired Nautilus , a 232K SF, multi -tenant life science campus in Torrey Pines, for $192M ⎼ Strategic Rationale: Transactio n represented a generational opportunity to enter one of the most tightly held and supply -constrained life science clusters in the country. Nautilus is one of the Class A, amenitized campuses in the submarket that is consistently considered for a wide range of active tenant requirements
Slide 22 — Strong Balance Sheet and Robust
Where Innovation Works Where Innovation Works Strong Balance Sheet and Robust Liquidity Profile 22
Slide 23 — Strong Balance Sheet and Robust Liquidity Profile
$399 $452 $400 $475 $500 $350 $425 $450 $375 $400 $400 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Well -Laddered Debt Maturities ($M) Unsecured Bonds Unsecured Private Placement Notes Unsecured Green Bonds Secured Debt Unsecured Term Loan 23 Well-Laddered Debt Maturity Profile and Substantial Unencumbered Asset Base Provide Valuable Financial and Operational Flexibility Strong Balance Sheet and Robust Liquidity Profile Statistics and Ratios (as of December 31, 2025) Debt Statistics Weighted avg. stated interest rate 4.28% Weighted avg. maturity 5.5 years Unencumbered portfolio % (2) 88% Leverage and Coverage Ratios Net debt to adjusted EBITDA (3) 7.1x Fixed charge coverage 3.0x Credit Ratings S&P Global BBB - / Negative Moody’s Baa3 / Stable Fitch BBB - / Stable −$1.3B of available liquidity, as of December 31, 2025, comprised of ~$179M of cash on hand and ~$1.1B available under the fully undrawn unsecured revolving credit facility −Well-covered dividend • Declared a quarterly cash dividend of $0.54 per common share ($2.16 per annum) for the fourth quarter of 2025, representing a ~56% FFO payout ratio (current quarter) and a 6.6% dividend yield (1) (1) As of February 19, 2026. (2) As defined per the Company’s credit agreement. (3) Adjusted less interest income and c alculated on a trailing 12 -month basis. (4) The maturity date of the unsecured term loan assumes the exercise of one remaining 12 -month extension, at the Company’s election . (4) Weighted Avg. Stated Rate 4.06% 4.37% 4.75% 4.12% 3.05% 4.27% 2.50% 2.65% 5.90% 5.88% 6.25%
Slide 24 — Environmental, Social, and
Where Innovation Works Where Innovation Works Environmental, Social, and Governance 24
Slide 25 — Environmental, Social, and Governance
25 Environmental, Social, and Governance Sustainability Strategy Environmental Minimizing KRC’s environmental footprint Social Promoting the wellness of KRC’s tenants, employees, communities, and partners Governance Maintaining best -in-class Environmental, Social, and Governance (“ESG”) leadership and transparency KRC’s vision is to improve the environmental and social performance of its portfolio and the Company, increasing the health a nd productivity of its tenants, employees, and communities, and enhancing its financial and operational performance Energy, Carbon, Water, and Waste Reduction Projects Renewable Energy Generation and Storage Environmental Building Certifications Diversity, Equity, and Inclusion Training Healthy Building Certifications Supply Chain Engagement Board of Directors Governance of ESG Issues Excellence in ESG Reporting Third Party Assurance of ESG Disclosures
Slide 26 — Environmental, Social, and Governance
26 Environmental, Social, and Governance 2030 Environmental Goals ENERGY Energy Use Intensity (“EUI”): Achieve a 10% reduction in portfolio average EUI by 2030, relative to a 2023 baseline Onsite Solar: Expand installed onsite solar capacity to eight megawatts by 2030 EMISSIONS Greenhouse Gas (“GHG”) Emissions Intensity: Achieve a 10% reduction in onsite GHG emissions intensity by 2030, relative to a 2023 baseline Carbon Neutral Operations: Maintain Carbon Neutral Operations through 2030 WATER Water Audit: Complete in -house water audits at 100% of properties by 2030 Water Submetering: Install submeters to more accurately measure high water usage points at 100% of properties by 2030 CERTIFICATIONS LEED: Achieve 85% LEED certification for the stabilized portfolio by 2030 ENERGY STAR: Achieve 70% ENERGY STAR certification for the stabilized portfolio by 2030 Fitwel : Achieve 50% Fitwel certification for the stabilized portfolio by 2030 NEW DEVELOPMENT Embodied Carbon: Reduce embodied carbon by at least 15% (compared to a regional industry average baseline) on all new development projects LEED: Achieve LEED Gold or LEED Platinum certification on all new development projects All -electric: Design and build all new development projects to be all -electric Onsite Solar: Conduct assessments for onsite solar feasibility at all new development projects WASTE Waste Education: Provide information, education, and/or training on recycling and composting practices to occupants of all KRC buildings by 20 30 Single -use Plastic: Eliminate single -use plastic water bottles, beverage cups, and utensils in 100% of KRC office kitchens by 2030
Slide 27 — Environmental, Social, and Governance
27 Environmental, Social, and Governance 2030 Social Goals − The Company’s 2030 Social Goals focus on ensuring ready now bench strength and elevation organizational capabilities, a highl y engaged workforce, and a positive impact on KRC’s local communities. These goals align with five tenets that define KRC’s cul tur e – People, Courage, Teamwork, Integrity, and Performance and Accountability: READY NOW BENCH STRENGTH AND ELEVATED ORGANIZATIONAL CAPABILTIES Increase Organizational Continuity: Create succession plans and name strong candidates for each officer position in the Company Elevate Organizational Knowledge, Skills, and Abilities: Create and execute enterprise -wide individual development plans that are consistent, where appropriate, with the newly created officer succession plans. Develop and execute on a formal training and development progra m f or Asset Management teams, with the goal of supporting talent acquisition and improving talent retention within the functions HIGHLY ENGAGED WORKFORCE Increase Employee Engagement Opportunities: Develop additional channels to engage with employees through wellness, mentorship, and career -pathing programs Drive Talent Retention Through Effective Leadership: Deliver a required manager capability program and measure the related performance of all leaders across the organization POSITIVE IMPACT ON OUR LOCAL COMMUNITIES Become Known for Our Philanthropic Identity: Identify and embed KRC’s philanthropic identity. Establish ongoing partnerships with local community - serving organizations and provide physical spaces to support initiatives Make a Meaningful Difference Through Philanthropic Efforts: Provide our teams with the time and support they need to foster strong partnerships with community organizations aligned with our philanthropic identity, drive higher levels of volunteer engagement by our people, a nd significantly expand our positive influence and outreach in our communities
Slide 28 — Environmental, Social, and Governance
28 Environmental, Social, and Governance Building Certifications LEED 12,381,507 Total Certified SF 70% of KRC’s stabilized portfolio is LEED certified, of which 94% is certified at the highest Gold and Platinum levels Fitwel 8,549,176 Total Certified SF 48% of KRC’s total stabilized portfolio is Fitwel certified Carbon Neutral Operations 100% of KRC’s stabilized portfolio is operating on a carbon neutral basis ENERGY STAR 10,495,244 Total Certified SF 59% of KRC’s total stabilized portfolio is ENERGY STAR certified BOMA 360 6,562,251 Total Certified SF 38% of KRC’s eligible Office portfolio is BOMA 360 certified WELL Building Standard Columbia Square Living One Paseo Living Jardine 70% Portfolio Certified 59% Portfolio Certified 38% Eligible Portfolio Certified 100% Residential Portfolio Certified 48% Portfolio Certified 100% Carbon Neutral Operations Note: Data as of December 31, 2025.
Slide 29 — Environmental, Social, and Governance
Environmental, Social, and Governance Achievements and Accolades 29 Carbon Neutral Operations Achieved Carbon Neutral Operations , 2020 -2025 Best in Building Health Fitwel Excellence Award, Most Certifications of All Time, 2019 -2022 Fitwel Champion+ Company, 2025 Energy Star Partner of the Year, 2014 -2024 Sustained Excellence, 2016 -2024 Newsweek America’s Most Responsible Companies, 2020 -2025 GRESB 5-Star Designation for Standing Assets, 2015 - 2025 Regional Sector Leader in the Americas in Technology/Life Science for Development, 2025 Green Lease Leader Leader, 2014 -2025 Gold Level, 2018 -2025 Champion of the Decade, 2024 US EPA Green Power Partnership National Top 100 Green Power Users, 2021 -2025 Calvert Research and Management Top 10 Most Sustainable US REITs Most Sustainable US REITs, 2020 -2023
Slide 30 — Where Innovation Works
Where Innovation Works Where Innovation Works