Camden National Corporation · NASDAQ:CAC

Camden National — Q2 2022 Earnings Presentation

14 slides from Camden National's earnings presentation, Jul 26, 2022

  1. Slide 1: Camden Property Trust 2Q22 Earnings Call

    CAMDEN PROPERTY TRUST 2Q22 EARNINGS CALL

  2. Slide 2: 2Q22 Signed New Leases & Renewals

    2Q22 SIGNED NEW LEASES & RENEWALS NEW LEASES 16.3% RENEWALS 14.4% BLENDED RATE 15.3%

  3. Slide 3: July 2022 Signed New Leases & Renewals

    JULY 2022 SIGNED NEW LEASES & RENEWALS NEW LEASES 13.5% RENEWALS 12.7% BLENDED RATE 13.1%

  4. Slide 4: Same Property Occupancy

    SAME PROPERTY OCCUPANCY 96.9% = 96.9% 2Q22 2Q21

  5. Slide 5: 2Q22 Turnover

    2Q22 TURNOVER 2Q22 2Q21 NET TURNOVER 46.0% 45.0% 2Q22 2Q21 MOVEOUTS TO 15.1% 17.7% PURCHASE HOME

  6. Slide 6: 2Q22 Same Property Revenue Growth

    2Q22 SAME PROPERTY REVENUE GROWTH TOTAL PORFOLIO 12.1% 12 OF 14 MARKETS > 10.0%

  7. Slide 7: Camden Buckhead – Atlanta, Georgia

    Camden Buckhead – Atlanta, Georgia

  8. Slide 8: Camden Tempe II – Tempe, Arizona

    Camden Tempe II – Tempe, Arizona

  9. Slide 9: Camden Village District – Raleigh, North Carolina

    Camden Village District – Raleigh, North Carolina

  10. Slide 10: Liquidity

    LIQUIDITY • ~$80 MILLION OUTSTANDING UNDER LOC (AS OF TODAY) • $248 MILLION TO SPEND OVER NEXT THREE YEARS ON EXISTING DEVELOPMENT PIPELINE • 2Q22 NET DEBT TO EBITDA : 4.4x

  11. Slide 11: 2Q22 FFO

    2Q22 FFO $179.9 MILLION 2¢ per share $1.64 $1.62 2Q22 ACTUAL RESULTS 2Q22 GUIDANCE MIDPOINT 3.0¢ LOWER BAD DEBT, HIGHER RENTAL RATES AND OCCUPANCY ( 1.0¢) HIGHER PROPERTY TAXES IN HOUSTON, AUSTIN AND ATLANTA

  12. Slide 12: 2022 Revised Same Property Guidance vs. Prior Guidance

    2022 REVISED SAME PROPERTY GUIDANCE VS. PRIOR GUIDANCE REVENUE 10.25% 11.25% PRIOR REVISED EXPENSE 4.20% 5.00% PRIOR REVISED NOI 13.75% 14.75% PRIOR REVISED

  13. Slide 13: 2022 Expected FFO Per Share

    2022 EXPECTED FFO PER SHARE (MIDPOINT OF GUIDANCE RANGE) +7¢ $6.51 $6.58 PRIOR 2022 GUIDANCE REVISED 2022 GUIDANCE $ 0.06 REVISED SAME STORE NOI GUIDANCE 0.01 INCREASED NOI FROM NON-SAME STORE AND DEVELOPMENT PORTFOLIO $ 0.07

  14. Slide 14: 3Q22 Expected FFO Per Share

    3Q22 EXPECTED FFO PER SHARE (MIDPOINT OF GUIDANCE RANGE) 6¢ PER SHARE $1.64 $1.70 2Q22 3Q22 $ 0.06 SEQUENTIAL SAME STORE NOI GROWTH 0.01 SEQUENTIAL NON-SAME STORE AND DEVELOPMENT GROWTH ( 0.01) HIGHER VARIABLE RATE INTEREST EXPENSE AND ADDITIONAL SHARES OUTSTANDING $ 0.06

Camden National — Q2 2022 Earnings Presentation on 6ix