Slide 1: RE eI IE yee
RE eI IE yee ie’ MEO we i ee Y =} a_i i= i Y Hf mf ff mm (=f 4A = — F/ — —— Ym 7 June 2023
Slide 2: Why Cousins?
WHY COUSINS? PREMIER * 100% Sun Belt / 100% Class A / 2004 average year built! SUN BELT * 41% of portfolio delivered or redeveloped since 2015!? PORTFOLIO * CUZ asking rents 9% higher than pre-pandemic levels and 23% higher than Class A avg?4 BENEFITING FROM POWERFUL OFFICE TRENDS * Sun Belt migrati
Slide 3: Cousins at a Glance
COUSINS AT A GLANCE The Preeminent Sun Belt Office REIT NOI By Market! Charlotte Dallas Nashville? 9% Atlanta 36% Phoenix 9% Houston 3% y) y i G ¥ 4 @ cousins 3
Slide 4: Premier Sun Belt Portfolio
PREMIER SUN BELT PORTFOLIO ° —
Slide 5: Outdoor Spaces to Collaborate and Enhance the Work Experience
PREMIER SUN BELT PORTFOLIO Outdoor Spaces to Collaborate and Enhance the Work Experience @ cousins 5
Slide 6: State-of-the-Art Fitness and Wellness Centers
PREMIER SUN BELT PORTFOLIO State-of-the-Art Fitness and Wellness Centers @ AVALON
Slide 7: On-Site Retail and Food Amenities that Promote Live-Work-Play
PREMIER SUN BELT PORTFOLIO On-Site Retail and Food Amenities that Promote Live-Work-Play i @ cousins 7
Slide 8: Premier Sun Belt Portfolio
PREMIER SUN BELT PORTFOLIO BUCKHEAD PLAZA —— / | PROMENADE TOWER Buckhead Atlanta | Midtown Atlanta 3350 PEACHTREE ~ PROMENADE CENTRAL eal === Buckhead Atlanta “ap! > Mitstiona Atlanta © Cousins
Slide 9: Command Premium Rents 23% Higher than Class A Average
PREMIER SUN BELT PORTFOLIO Command Premium Rents 23% Higher than Class A Average in Our Core Markets CLASS A ASKING RENT ($/SF)1 ATLANTA AUSTIN CHARLOTTE $63.09 $51.04 $41.91 $41.27 $37.54 a L a _ Total Market @ cousins Total Market ® cousins Total Market @ cousins DALLAS PHOENIX TAMPA $55.00 $48.00
Slide 10: Sun Belt Migration is Leading to Outsized Population and Job Growth
BENEFITING FROM POWERFUL OFFICE TRENDS Sun Belt Migration is Leading to Outsized Population and Job Growth SUN BELT MIGRATION 7h yok 49. BO. , ¥ LN eh Oye 2022! . Florida Texas. . North Carolina . South Carolina » Tennessee . Georgia . Arizona Masdi chic tig ING w Jersey Hino NewY 6rk California Dom
Slide 11: Flight to Quality is Driving Demand for Newer Assets
BENEFITING FROM POWERFUL OFFICE TRENDS Flight to Quality is Driving Demand for Newer, Highly-Amenitized Assets FLIGHT TO QUALITY Net Absorption by Building Age’ 2015-Present 2010-2014 2000s 1990s 1980s Year of Delivery 1970s 1960s Pre 1950 103 -104 “125 TS = 715) 25 75 125 Net Absorption Since COVID
Slide 12: Opportunistically Recycled Over $1 Billion of Older Assets
POSITIONED FOR ORGANIC GROWTH Opportunistically Recycled Over $1 Billion of Older Assets During COVID Pandemic Asset Recycling? $MM's $600 $400 Total Acquisitions $646 Million $200 Wot Avg Year Built \ 2019 $0 Total Dispositions ei $1,177 Million Wot Avg Year Built 1991 -$400 -$600 -$800 2020 2021 @
Slide 13: Low Portfolio Risk as Large Move-Outs are in the Rearview Mirror
POSITIONED FOR ORGANIC GROWTH Low Portfolio Risk as Large Move-Outs are:in the Rearview Mirror LEASE EXPIRATIONS BY YEAR? 35% 30% 25% 20% Avg = 17.6% 15% 10% 5% 0% DEl» EQC HPP OPI OFC FSP CIO VNO HIW PDM BDN KRC ARE ESRT BXP..PGRE SLG DEA | CUZ | 2023 ™2024 @ cousins 13
Slide 14: Cousins' Portfolio Occupancy vs Leased
COUSINS’ PORTFOLIO OCCUPANCY vs LEASED1
Slide 15: Cousins' Increase in 2nd Generation Cash Net Rent
COUSINS’ INCREASE IN 2ND GENERATION CASH NET RENT1
Slide 16: Current Development Pipeline
CURRENT DEVELOPMENT PIPELINE AUSTIN NASHVILLE
Slide 17: Attractive Development Pipeline for Future Growth
ATTRACTIVE DEVELOPMENT PIPELINE FOR FUTURE GROWTH ATLANTA AUSTIN 887 WEST PEACHTREE [aa ‘| PEACHTREE MIDTOWN = DOMAIN DOMAIN 200K SF 900K SF 600K SF BUCKHEAD 740K SF MIDTOWN 700K SF DALLAS @ cousins 17
Slide 18: Significant Opportunities to Grow in Domain Submarket of Austin
ATTRACTIVE DEVELOPMENT PIPELINE FOR FUTURE GROWTH Significant Opportunities to Grow in Domain Submarket of Austin ~~ — i Ee | Domain 2 By ~ with up to 2MM SF hy lopment potentiz Domain3 & 4 Future Redevelopment AS F ans rs Cousins Domain Portfolio erating Properties a Cousins 18
Slide 19: Leverage Below Peers with Substantial Liquidity
BALANCE SHEET PRIMED FOR OPPORTUNITIES Leverage Below Peers with Substantial Liquidity NET DEBT/EBITDA? 14.0x 12.0x 10.0x 8.0x 6.0x 4.0x 2.0x 0.0x SLG VNO HPP PGRE OPI BXP BDN.ESRT DEA FSP ClO. PDM OFC HIW KRC ARE CUZ @ Cousins 19
Slide 20: Debt Maturity Schedule
DEBT MATURITY SCHEDULE1 (INCLUDES ALL DISCLOSED EXTENSION OPTIONS)
Slide 21: Cousins' In-Place Gross Rent per SF
COUSINS’ IN-PLACE GROSS RENT PER SF1
Slide 22: Cousins' Common Dividend per Share and Payout Ratio
COUSINS’ COMMON DIVIDEND PER SHARE AND PAYOUT RATIO1
Slide 23: Net Asset Value Appreciation per Green Street
NET ASSET VALUE APPRECIATION PER GREEN STREET1
Slide 24: Meet Our Executive Team
MEET OUR EXECUTIVE TEAM Stable, Experienced Leadership M. Colin Connolly President and Chief Exe @ cousins 24
Slide 25: Appendix
Slide 26: Atlanta
ATLANTA AVALON —® _—s s 75] 4 a J fe a NORTHPARK me 2. ea oo al s \ MERIDIAN Mark 3350 PEACHTREE , a 3348 PEACHTREE ~~} o BUCKHEAD PLAZA es ee _/ oS >= 3544 PEACHTREE i225) Z TERMINUS SPRING & 8TH o® PROMENADE CENTRAL foe PROMENADE [225] por TOWER A 20 ow @120 WEST TRINITY ‘s DN 725 PONCE EMORY HOSP
Slide 27: Austin
AUSTIN RESEARCH PARK PLAZA V DOMAIN 10 DOMAIN POINT DOMAIN 11 —@@®DOMAIN 12 2s DOMAIN 279 DOMAIN & DOMAIN 3 © DOMAIN 7 DOMAIN 4 € ? & LJ me 300 COLORADO ——® @——— COLORADO TOWER ONE ELEVEN (@) ° {CONGRESS Cn Chane SAN JACINTO CENTER THE TERRACE a Cousins Submarket Concentration? Concentration4 Techno
Slide 28: Tampa
TAMPA Submarket Concentration? @ HARBORVIEW &® (GD) PLAZA CORPORATE & & [c) CENTER HEIGHTS UNION—__ pe THE POINTE os id Healthcare oo 26% i @ @ @ Industry Concentration* Technology 10% Legal @ cousins 28
Slide 29: Phoenix
PHOENIX HAYDEN FERRY ei led wie / 111 WEST RIO ——® ~~ 100 MILL & TEMPE GATEWAY E Rio Salado Phwy Ward St ‘ony yay ny IAN Esthst a Cousins Tempe 100% Submarket Concentration? Technology 37% Industry Concentration Financial 29
Slide 30: Charlotte
CHARLOTTE Cg —_ g @ ay ‘ — 6S 77) ee gs Sg, b & @— FIFTH THIRD CENTER es iS “% . * ous 3 4 &, Ye, o \ = @ % fed — @—— 550 SOUTH 77] THE RAILYARD.g A &* Ss of a Cousins Consumer Goods and Services Submarket Concentration? Industry Concentration* ing Rent® 30
Slide 31: Dallas
DALLAS di @ a a Cousins di \Lecacy UNION Dallas North Tollway © 5950 SHERRY LANE @& & Dallas North Tollway io] o) Submarket Concentration? Industry Concentration* 31
Slide 32: Endnotes
ENDNOTES Page 2- Why Cousins? 1. As of 3hMar-2023. 2. Includes seven assets that have undergone redevelopments in past five years. 3. Based on CoStar average asking rents for same pool of Cousins assets from 4Q19 to 1Q23. 4. Source: CoStar. Represents weighted average gross rental rates of 4 & 5 sta
Slide 33: Cautionary Statement Regarding Forward-Looking Information
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Certain matters contained in this report are “forward-looking statements” within the meaning of the federal securities laws and are subject to uncertainties and risks, as itemized in Item 1A included in the Annual Report on Form 10-K for the
Slide 34: Investor Relations Contacts
Executive Vice President and Chief Financial Officer Vice President, Finance and Investor Relations 3344 Peachtree Road NE gadzema@cousins.com rimbeaux@cousins.com Suite 1800 404.407.1116 404.407.1104 Atlanta, GA 30326
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