Copt Defense Properties · NYSE:CDP
Copt Defense Properties — Corporate Office Properties Trust — Investor Presentation (June 2003)
10 slides from Copt Defense Properties's investor presentation, Jun 20, 2003
Slide 1: Overview
OVERVIEW ™ New York Stock Exchange REIT (symbol “OFC”) ™ Class A Suburban Office (113 properties, 9.5 mm s.f.)' ™ Mid-Atlantic Focus (largest in BAW Corridor) ™ $1.3 Billion in Total Market Capitalization’ ™ 7.6% FFO Growth For 2003 ($1.55 per share) ™ 25% EPS Growth For 2003 ™ Secure 5.2% Dividend
Slide 2: Strong Outlook: FFO Per Share Growth
TRONG OUTLOO FFO Per Share Growth 2001 2002 2003 140%. 12.5% Projected 12.0%: nes 10.0% aa _ 8.0% 6.0%: 4.0%: 2.0%: an 0.0%: 2.0% 4.0% 60% 4 es NAREIT Average Office’ GOFC” E 1. dared on ata FF0 tr 02 ana Fetal rtm aee OD aot 61, Gata powaea by FactSet 2. aaregon atl FO AM 2001 1820026 te eque ta ad
Slide 3: Acquisition Summary
QUISITION MMARY $143 Million 2002 Acquisitions - Actual Closed $107 Million 2003 Acquisitions - YTD Closed $ 89 Million’ 2003 Offers Out $180 Million’ fis E
Slide 4: 434% Growth FFO Per Share
434% GROWTH FFO PER SHARE $150 $1.25 $1.00 $075 sao $0.25 so.00 i a ar a ar ao fee Li Saedon Wabie mangh cone ee winatar w OTSATOS. IFO br BW Browgh MIDOVaGeG Ge b ROT Tons GPCUTeGN be fae eva DRCRET ‘IOS FFO estat renee awed eetnam red on 10USeaninge hare Ciokahgadwme re HrSFAS Te?) ands eeqestepor
Slide 5: 217% Growth Earnings Per Share
217% GROWTH EARNINGS PER SHARE $0.65 $0.40. $0.15: $0.10 $0.35 $0.60 oF 1997 1998 1999 2000 2001 2002 -2003E" YSE E FI FS eins ROE Te CmFENVEGUERNE PRUT PURE
Slide 6: Summary
MMARY ™ Secure 5.2% Dividend Yield + Conservative payout ratio (68%) as of 3/3103 + Stable average occupancy in 2002 (94%) ™ Consistent Growth + 217% growth in EPS/share (1997-2003) + 434% growth in FFO/share (1997-2003) + 76% growth in dividends/share (1997-2003) ™ Top Performing Office REIT + 26%
Slide 7: Disclosure: Funds from Operations
Funds from Operations: ‘Adjusted Fundsfrom Operations (aFFO) & NY! DISCLOSURE Definitions —Non GAAP Measure Funds ftom operations means natinceme (los) computed using GAAP. exuding gains (ortlosses) trom debt restuctuing and sales of real estate, plus real esate-related depreciation and amorization
Slide 8: Disclosure: GAAP, Industry Classification, NAREIT
GAAP Industry Classification NAREIT Total Annualized Revere & NY! DISCLOSURE Definitions —Non GAAP Measure Generally aocepted accounting pindples. ‘Wa clasitythe revenue from our leases int industry groupings based solely on Managements knowledge ofthe tenant? operations in leased space. Clocasional
Slide 9: Disclosure: FFO Payout Ratios
DISCLOSURE Definitions —Non GAAP Measure FFO Payout Ratios, Total dividendsfastbutons, exclusive of dvidends for perpetual prefered equity which are deductedto ealoulate FFO and inotusive of dividends on reticted shares for certain periods, divided by FOL AEFO Payout Ratios Total dividendstastbutons
Slide 10: Searchable text section of graphics shown above
Searchable text section of graphics shown above O VERVIEW • New York Stock Exchange REIT (symbol “OFC”) • Class A Suburban Office (113 properties, 9.5 mm s.f.)(1) • Mid-Atlantic Focus (largest in B/W Corridor) • $1.3 Billion in Total Market Capitalization(2) • 7.6% FFO Growth For 2003 ($1.55 per sha
Corporate Office Properties Trust — Investor Presentation (June 2003) on 6ix