Kilroy Realty Corporation · NYSE:KRC
Kilroy Realty — Q1 2026 Earnings Presentation
30 slides from Kilroy Realty's earnings presentation, Apr 28, 2026
Slide 1: Kilroy Realty Corporation Investor Presentation
Kilroy Realty Corporation Investor Presentation March 2026 Where Innovation Works Kilroy Oyster Point Phase 2 | South San Francisco, CA
Slide 2: Company Overview
Company Overview Where Innovation Works 2
Slide 3: Who is Kilroy?
PORTFOLIO QUICK FACTS Who is Kilroy? Rentable Square Feet (“RSF”) – Stabilized Portfolio 16.3M Office and Life Science Properties 121 Stabilized Occupancy (%) / Leased (%) 81.6% / 83.8% − Kilroy Realty Corporation (“KRC” or the “Company”) is a leading, publicly traded Signed But Not Commenced Space
Slide 4: Recent Leasing Performance
Recent Leasing Performance Record Leasing Achieved in 2025 − 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 827K SF 2.1M SF +65% o
Slide 5: Why Kilroy?
Why Kilroy? An Opportunity to Capitalize on the Ongoing West Coast Recovery 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 r
Slide 6: Kilroy's Strategic Approach
Kilroy’s Strategic Approach A Disciplined Strategy Focused on Quality, Durability, and Growth HIGH -QUALITY DURABLE AND PRUDENT CAPITAL PLATFORM DISCIPLINED BALANCE PORTFOLIO GROWING CASH FLOW ALLOCATION EXCELLENCE SHEET MANAGEMENT − Maintain a best -in-class − Secure long -term − Balance capital −
Slide 7: West Coast Opportunity
West Coast Opportunity Where Innovation Works 7
Slide 8: West Coast Opportunity
West Coast Opportunity KRC’s high quality West Coast portfolio is uniquely positioned The West Coast Remains the Nation’s Leading Hub of to benefit from the substantial investments being made in AI Innovation and Discovery and emerging technologies − Unparalleled Access to Capital – Approximately 70
Slide 9: AI is Positively Reshaping Office and Life Science Demand
West Coast Opportunity AI is Positively Reshaping Office and Life Science Demand in Major Innovation Driven West Coast Markets 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
Slide 10: Top 10 AI Leases in San Francisco in 2025
West Coast Opportunity AI is Positively Reshaping Office and Life Science Demand in Major Innovation Driven West Coast Markets Top 10 AI Leases in San Francisco in 2025 − While AI leasing may appear modest on a deal -by -deal basis, the underlying Tenant SF demand signal is far more powerful. Roughl
Slide 11: Innovation Fuels Growth in Office-Using Jobs
West Coast Opportunity Innovation Fuels Growth in Office -Using Jobs ⎼ Throughout every major historical technological advancement , Impact of Key Technology Milestones on Office -Using office -using employment has grown, and total occupied office Employment and O ccupied S quare Footage space has g
Slide 12: Labor Markets Remain Resilient Despite AI Disruption Fears
West Coast Opportunity Labor Markets Remain Resilient Despite AI Disruption Fears ⎼ Despite intense narratives about imminent AI -driven job loss, current labor Indeed Job Postings for Software Engineers (1) indicators show no signs of broad disruption. Unemployment remains low at 4.3% and software
Slide 13: Kilroy Oyster Point Phase 2 Update
Kilroy Oyster Point Phase 2 Update Where Innovation Works 13
Slide 14: KOP 2 Project Overview
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 portf
Slide 15: Substantial Leasing Progress Made During 2025
KOP 2 Update Substantial Leasing Progress Made During 2025 KOP 2 is benefiting from a material improvement in life science sentiment and activity, with 384K SF of leases executed to da te Undisclosed Life Science Company 280K SF 44K SF 24K SF 20K SF 16K SF Expected Occupancy: Expected Occupancy: Exp
Slide 16: Encouraging Forward Indicators Across the Life Science Sector
KOP 2 Update Encouraging Forward Indicators Have Emerged Across the Life Science Secto r Annual Change, XBI and US Lab Deals – Biotech equities have meaningfully outperformed in recent 100% months, a trend that has historically preceded a pickup in 80% 72% lab leasing 61% 60% 40% 18% – Capital marke
Slide 17: Encouraging Forward Indicators Across the Life Science Sector
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 -marke
Slide 18: Capital Allocation
Capital Allocation Where Innovation Works 18
Slide 19: Strategic Capital Allocation
Investment Update Strategic Capital Allocation 2025 Year in Review: − As part of the Company’s broader strategy to enhance portfolio resilience and drive long -term $ 465M OF DISPOSITIONS (1) cash flow durability and growth , KRC is recycling capital in a disciplined manner designed to position the
Slide 20: Recent Strategic Dispositions
Capital Markets Transactions Recent Strategic Dispositions 501 Santa Monica Disposition (Santa Monica, CA): Sunnyvale Campus (Sunnyvale, CA) ⎼ Transaction Overview: In June, sold 501 Santa ⎼ Transaction Overview: In September, sold a four - Monica, a ~79K SF, seven -story office property, for buildi
Slide 21: Recent Strategic Acquisitions
Capital Markets Transactions Recent Strategic Acquisitions 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 highes
Slide 22: Strong Balance Sheet and Robust Liquidity Profile
Strong Balance Sheet and Robust Liquidity Profile Where Innovation Works 22
Slide 23: Strong Balance Sheet and Robust Liquidity Profile
Strong Balance Sheet and Robust Liquidity Profile Well -Laddered Debt Maturity Profile and Substantial Unencumbered Asset Base Provide Valuable Financial and Operational Flexibility Statistics and Ratios (as of December 31, 2025) Debt Statistics − $1.3B of available liquidity, as of December 31, 202
Slide 24: Environmental, Social, and Governance
Environmental, Social, and Governance Where Innovation Works 24
Slide 25: Sustainability Strategy
Environmental, Social, and Governance Sustainability Strategy 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 performa
Slide 26: 2030 Environmental Goals
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”) E
Slide 27: 2030 Social Goals
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 defin
Slide 28: Building Certifications
Environmental, Social, and Governance Building Certifications LEED Fitwel Carbon Neutral Operations 70% 48% 100% Portfolio Portfolio Carbon Neutral Certified 12,381,507 Total Certified SF Certified 8,549,176 Total Certified SF Operations 100% of KRC’s stabilized portfolio is operating on a carbon ne
Slide 29: Achievements and Accolades
Environmental, Social, and Governance Achievements and Accolades Carbon Neutral Operations Best in Building Health Fitwel Excellence Award, Achieved Carbon Neutral Operations , Most Certifications of All Time, 2019 -2022 2020 -2025 Fitwel Champion+ Company, 2025 Energy Star Newsweek Partner of the Y
Slide 30: Where Innovation Works
Where Innovation Works Where Innovation Works