Slide 1: Supplemental Operating and Financial Data for the Quarter Ended March 31, 2026
Supplemental Operating and Financial Data for the Quarter Ended March 31, 2026
Slide 2: The Company / Forward-Looking Statements
THE COMPANY BXP, Inc. (NYSE: BXP) (“BXP” or the “Company”) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has deliver
Slide 3: General Information
GENERAL INFORMATION Corporate Headquarters Trading Symbol Investor Relations Inquiries 800 Boylston Street BXP BXP, Inc. Inquiries should be directed to Suite 1900 800 Boylston Street, Suite 1900 Helen Han Boston, MA 02199 Stock Exchange Listing Boston, MA 02199 Vice President, Investor Relations ww
Slide 4: Table of contents
Q1 2026 Table of contents Page OVERVIEW Company Profile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Guidance and
Slide 5: Company profile snapshot
Q1 2026 Company profile SNAPSHOT (as of March 31, 2026) Fiscal Year-End . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . December 31 Total Properties (includes unconsolida
Slide 6: Guidance and assumptions
Q1 2026 Guidance and assumptions GUIDANCE BXP’s guidance for second quarter and full year 2026 for diluted earnings per common share attributable to BXP, Inc. (EPS) and diluted funds from operations (FFO) per common share attributable to BXP, Inc. is set forth and reconciled below. Except as describ
Slide 7: Financial highlights
Q1 2026 Financial highlights (unaudited and in thousands, except ratios and per share amounts) Three Months Ended 31-Mar-26 31-Dec-25 Net income attributable to BXP, Inc. $ 101,576 $ 248,486 Net income attributable to BXP, Inc. per share - diluted $ 0.64 $ 1.56 FFO attributable to BXP, Inc. 1 $ 252,
Slide 8: Financial highlights (continued)
Q1 2026 Financial highlights (continued) 12 Represents signed leases for which revenue recognition has commenced in accordance with GAAP and signed leases for vacant space with future commencement dates. Excludes hotel and residential properties. 13 For a quantitative reconciliation for March 31, 20
Slide 9: Consolidated Balance Sheets
Q1 2026 Consolidated Balance Sheets (unaudited and in thousands) 31-Mar-26 31-Dec-25 ASSETS Real estate $ 26,256,207 $ 26,248,130 Construction in progress 1,626,073 1,475,257 Land held for future development 493,212 518,492 Right of use assets - finance leases 372,476 372,470 Right of use assets - o
Slide 10: Consolidated Income Statements
Q1 2026 Consolidated Income Statements (unaudited and in thousands, except per share amounts) Three Months Ended 31-Mar-26 31-Dec-25 Revenue Lease $ 818,156 $ 809,150 Parking and other 30,811 35,393 Insurance proceeds 3 7,490 Hotel revenue 9,101 12,464 Development and management services 9,207 8,641
Slide 11: Funds from operations (FFO)
Q1 2026 Funds from operations (FFO) 1 (unaudited and dollars in thousands, except per share amounts) Three Months Ended 31-Mar-26 31-Dec-25 Net income attributable to BXP, Inc. $ 101,576 $ 248,486 Add: Noncontrolling interest - common units of the Operating Partnership 11,561 27,824 Noncontrolling i
Slide 12: Funds available for distributions (FAD)
Q1 2026 Funds available for distributions (FAD) 1 (dollars in thousands) Three Months Ended 31-Mar-26 31-Dec-25 Net income attributable to BXP, Inc. $ 101,576 $ 248,486 Add: Noncontrolling interest - common units of the Operating Partnership 11,561 27,824 Noncontrolling interests in property partner
Slide 13: Reconciliation to BXP's Share of same property NOI
Q1 2026 Reconciliation of net income attributable to BXP, Inc. to BXP’s Share of same property net operating income (NOI) (in thousands) Three Months Ended 31-Mar-26 31-Mar-25 Net income attributable to BXP, Inc. $ 101,576 $ 61,177 Net income attributable to noncontrolling interests Noncontrolling i
Slide 14: Reconciliation to same property NOI - cash
Q1 2026 Reconciliation of net income attributable to BXP, Inc. to BXP’s Share of same property net operating income (NOI) - cash (in thousands) Three Months Ended 31-Mar-26 31-Mar-25 Net income attributable to BXP, Inc. $ 101,576 $ 61,177 Net income attributable to noncontrolling interests Noncontro
Slide 15: Same property NOI by reportable segment
Q1 2026 Same property net operating income (NOI) by reportable segment (dollars in thousands) Office 1 Hotel & Residential Three Months Ended $ % Three Months Ended $ % 31-Mar-26 31-Mar-25 Change Change 31-Mar-26 31-Mar-25 Change Change Rental Revenue 2 $ 839,849 $ 813,630 $ 12,690 $ 13,100 Less: Te
Slide 16: Same property NOI by reportable segment (continued)
Q1 2026 Same property net operating income (NOI) by reportable segment (continued) 4 Consists of lease transaction costs that qualify as rent inducements in accordance with GAAP. Lease transaction costs are generally included in 2nd generation tenant improvements and leasing commissions in the Compa
Slide 17: Capital expenditures
Q1 2026 Capital expenditures (dollars in thousands, except PSF amounts) CAPITAL EXPENDITURES Three Months Ended 31-Mar-26 31-Dec-25 Maintenance capital expenditures $ 18,984 $ 18,157 Planned capital expenditures associated with acquisition properties 4,206 8,247 Repositioning capital expenditures 32
Slide 18: Acquisitions and dispositions
Q1 2026 Acquisitions and dispositions For the period from January 1, 2026 through March 31, 2026 (dollars in thousands) ACQUISITIONS BXP’s Share of Investment Anticipated In-service Property Location Date Acquired Square Feet Initial Future Total Leased (%) N/A — $ — $ — $ — —% Total Acquisitions —
Slide 19: Construction in progress
Q1 2026 Construction in progress (dollars in thousands) CONSTRUCTION IN PROGRESS AT MARCH 31, 2026 1 Actual/Estimated BXP’s share Estimated Estimated Percentage Net Operating Initial Stabilization Square Investment Total Total Amount Future Equity Percentage placed in- Income (Loss) 5 Occupancy Date
Slide 20: Construction in progress (continued)
Q1 2026 Construction in progress (continued) 8 On March 5, 2025, the Company acquired a 19.46% interest in 290 Coles Street. The budget represents the Company’s 19.46% ownership of the project budget and financings which includes the Company’s share of preferred equity. The Company has contributed $
Slide 21: Land parcels and purchase options
Q1 2026 Land parcels and purchase options as of March 31, 2026 OWNED LAND PARCELS AND PROPERTIES HELD FOR REDEVELOPMENT 1 Location Approximate Developable Square Feet 2 Office New York, NY (25% ownership) 2,000,000 Princeton, NJ 1,723,000 Reston, VA 1,278,000 San Jose, CA (55% ownership) 1,088,000 W
Slide 22: Leasing activity
Q1 2026 Leasing activity for the three months ended March 31, 2026 OCCUPANCY ACTIVITY - NET (INCREASE)/DECREASE IN AVAILABLE SPACE (SF) Total Vacant space available at the beginning of the period 6,342,127 Less: Property dispositions/properties taken out of service 1 389,363 Add: Properties placed (
Slide 23: Portfolio overview
Q1 2026 Portfolio overview for the three months ended March 31, 2026 (dollars in thousands) Rentable square footage of in-service properties by location and unit type 1, 2, 3 Office Retail Residential Hotel Total Boston 13,990,185 1,076,529 320,444 330,000 15,717,158 Los Angeles 1,923,230 123,534 —
Slide 24: Residential and hotel performance
Q1 2026 Residential and hotel performance (dollars in thousands, except rental rates) RESULTS OF OPERATIONS Residential 1 Hotel Three Months Ended Three Months Ended 31-Mar-26 31-Dec-25 31-Mar-26 31-Dec-25 Rental Revenue 2 $ 4,452 $ 12,818 $ 9,101 $ 12,464 Less: Operating expenses and real estate ta
Slide 25: In-service property listing
Q1 2026 In-service property listing as of March 31, 2026 Annualized Number Rental of Square Obligations Per Sub Market Buildings Feet Occupied % 1 Leased % 2 Occupied SF 3 CBD BOSTON Office 200 Clarendon Street CBD Boston MA 1 1,700,914 99.7 % 100.0 % $ 91.28 800 Boylston Street - The Prudential Cen
Slide 26: In-service property listing (continued)
Q1 2026 In-service property listing (continued) as of March 31, 2026 Annualized Number Rental of Square Obligations Per Sub Market Buildings Feet Occupied % 1 Leased % 2 Occupied SF 3 250 West 55th Street Times Square / West Side NY 1 966,976 98.7 % 98.7 % 104.61 200 Fifth Avenue (26.69% ownership)
Slide 27: In-service property listing (continued)
Q1 2026 In-service property listing (continued) as of March 31, 2026 Annualized Number Rental of Square Obligations Per Sub Market Buildings Feet Occupied % 1 Leased % 2 Occupied SF 3 Avant Retail 5 Reston VA 1 26,179 100.0 % 100.0 % 67.97 Subtotal 19 4,758,972 95.8 % 97.3 % $ 59.06 Wisconsin Place
Slide 28: In-service property listing (continued)
Q1 2026 In-service property listing (continued) as of March 31, 2026 Annualized Number Rental of Square Obligations Per Sub Market Buildings Feet Occupied % 1 Leased % 2 Occupied SF 3 502 Carnegie Center Princeton NJ 1 121,460 94.8 % 94.8 % 49.34 701 Carnegie Center Princeton NJ 1 120,000 100.0 % 10
Slide 29: Top clients listing and portfolio client diversification
Q1 2026 Top 20 clients listing and portfolio client diversification as of March 31, 2026 TOP 20 CLIENTS BXP’s Share of Annualized Weighted Average Remaining No. Client Rental Obligations 1 Lease Term (years) 2 1 Salesforce 3.44 % 6.0 2 Google 3.22 % 11.1 3 Akamai Technologies 2.22 % 8.6 4 Kirkland &
Slide 30: Occupancy by location
Q1 2026 Occupancy by location as of March 31, 2026 TOTAL IN-SERVICE OFFICE PROPERTIES 1 - Quarter-over-Quarter CBD Suburban Total Location 31-Mar-26 31-Dec-25 31-Mar-26 31-Dec-25 31-Mar-26 31-Dec-25 Boston 97.3 % 97.6 % 78.6 % 75.9 % 92.4 % 91.9 % Los Angeles 87.2 % 86.5 % —% —% 87.2 % 86.5 % New Yo
Slide 31: Capital structure
Q1 2026 Capital structure (in thousands, except percentages) CONSOLIDATED DEBT Aggregate Principal Mortgage Notes Payable $ 4,296,994 Unsecured Line of Credit — Unsecured Term Loans 800,000 Unsecured Commercial Paper 750,000 Unsecured Senior Notes, at face value 8,850,000 Unsecured Exchangeable Seni
Slide 32: Capital structure (continued)
Q1 2026 Capital structure (continued) CAPITALIZATION Shares/Units Common Stock Outstanding Equivalents Equivalent Value 5 Common Stock 158,676 158,676 $ 8,235,284 Common Operating Partnership Units 18,787 18,787 975,045 Total Equity 177,463 $ 9,210,329 Consolidated Debt (A) $ 15,614,009 Add: BXP’s s
Slide 33: Debt analysis
Q1 2026 Debt analysis 1 as of March 31, 2026 (dollars in thousands) PRINCIPAL DUE AT MATURITY $3,500,000 3,050,000 $3,000,000 Principal ($ in thousands) $2,500,000 $2,000,000 1,850,000 1,800,000 1,734,311 1,850,000 1,700,000 $1,500,000 1,250,000 $1,000,000 850,000 750,000 850,000 $500,000 $0 2026 20
Slide 34: Senior unsecured debt covenant compliance ratios
Q1 2026 Senior unsecured debt covenant compliance ratios In the fourth quarter of 2002, the Company’s Operating Partnership (Boston Properties Limited Partnership) received investment grade ratings on its senior unsecured debt securities and thereafter issued unsecured notes. The notes were issued u
Slide 35: Net Debt to EBITDAre
Q1 2026 Net Debt to EBITDAre (dollars in thousands) Reconciliation of BXP’s Share of EBITDAre and BXP’s Share of EBITDAre – cash 1 Three Months Ended 31-Mar-26 31-Dec-25 Net income attributable to BXP, Inc. $ 101,576 $ 248,486 Add: Noncontrolling interest - common units of the Operating Partnership
Slide 36: Debt ratios
Q1 2026 Debt ratios (in thousands, except for ratio amounts) INTEREST COVERAGE RATIO 1 Three Months Ended 31-Mar-26 31-Dec-25 BXP’s Share of interest expense 1 $ 156,846 $ 167,074 Less: BXP’s Share of hedge amortization, net of costs 1 1,706 1,712 BXP’s share of fair value interest adjustment 1 216
Slide 37: Consolidated joint ventures
Q1 2026 Consolidated joint ventures as of March 31, 2026 d (unaudited and in thousands) BALANCE SHEET INFORMATION 767 Fifth Avenue Total Consolidated ASSETS (The GM Building) 1 Norges Joint Ventures 1, 2 Joint Ventures Real estate, net $ 3,158,630 $ 3,193,432 $ 6,352,062 Cash and cash equivalents 54
Slide 38: Consolidated joint ventures (continued)
Q1 2026 Consolidated joint ventures (continued) for the three months ended March 31, 2026 (unaudited and in thousands) RESULTS OF OPERATIONS 767 Fifth Avenue Total Consolidated (The GM Building) Norges Joint Ventures 1 Joint Ventures Revenue Lease 2 $ 81,832 $ 118,236 $ 200,068 Straight-line rent 3,
Slide 39: Unconsolidated joint ventures
Q1 2026 Unconsolidated joint ventures 1 as of March 31, 2026 (unaudited and dollars in thousands) BALANCE SHEET INFORMATION Mortgage/ Mezzanine/ Interest Rate BXP’s Nominal Construction Property Ownership Net Equity Loans Payable, Net Maturity Date Stated GAAP 2 Boston The Hub on Causeway - Podium 5
Slide 40: Unconsolidated joint ventures (continued)
Q1 2026 Unconsolidated joint ventures (continued) 1 FLOATING AND FIXED RATE DEBT ANALYSIS Weighted Average % of Total Debt Stated Rates GAAP Rates 2 Maturity (years) Floating Rate Debt 27.26 % 6.07 % 6.82 % 1.2 Fixed Rate Debt 72.74 % 4.57 % 4.90 % 4.7 Total Debt 100.00 % 4.98 % 5.43 % 3.7 _________
Slide 41: Unconsolidated joint ventures (continued)
Q1 2026 Unconsolidated joint ventures (continued) for the three months ended March 31, 2026 (unaudited and in thousands) RESULTS OF OPERATIONS 1 Total Los San Washington, Unconsolidated Boston Angeles New York Francisco Seattle DC Joint Ventures Revenue Lease 2 $ 28,307 $ 20,627 $ 19,201 $ 141 $ 7,3
Slide 42: Lease expirations - All in-service properties
Q1 2026 Lease expirations - All in-service properties1, 2, 3 as of March 31, 2026 OFFICE BXP’s Share Current Annualized Rental Annualized Rental Obligations Obligations Under Expiring Under Expiring Leases with Rentable Rentable Leases future step-ups Square Square Percentage of Year Footage4 Footag
Slide 43: Lease expirations - Boston region
Q1 2026 Lease expirations - Boston region in-service properties 1, 2, 3 as of March 31, 2026 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Under Expiring Leases Expiring Leases with future step-ups Rentable Square Rentable Square Year Footage4 Footage4
Slide 44: Quarterly lease expirations - Boston region
Q1 2026 Quarterly lease expirations - Boston region in-service properties 1, 2, 3 as of March 31, 2026 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Under Expiring Leases Expiring Leases with future step-ups Rentable Square Rentable Square Quarter Foota
Slide 45: Lease expirations - Los Angeles region
Q1 2026 Lease expirations - Los Angeles region in-service properties 1, 2, 3 as of March 31, 2026 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Under Expiring Leases Expiring Leases with future step-ups Rentable Square Rentable Square Year Footage4 Foot
Slide 46: Quarterly lease expirations - Los Angeles region
Q1 2026 Quarterly lease expirations - Los Angeles region in-service properties 1, 2, 3 as of March 31, 2026 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Under Expiring Leases Expiring Leases with future step-ups Rentable Square Rentable Square Quarter
Slide 47: Lease expirations - New York region
Q1 2026 Lease expirations - New York region in-service properties 1, 2, 3 as of March 31, 2026 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Under Expiring Leases Expiring Leases with future step-ups Rentable Square Rentable Square Year Footage4 Footage
Slide 48: Quarterly lease expirations - New York region
Q1 2026 Quarterly lease expirations - New York region in-service properties 1, 2, 3 as of March 31, 2026 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Under Expiring Leases Expiring Leases with future step-ups Rentable Square Rentable Square Quarter Foo
Slide 49: Lease expirations - San Francisco region
Q1 2026 Lease expirations - San Francisco region in-service properties 1, 2, 3 as of March 31, 2026 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Under Expiring Leases Expiring Leases with future step-ups Rentable Square Rentable Square Year Footage4 Fo
Slide 50: Quarterly lease expirations - San Francisco region
Q1 2026 Quarterly lease expirations - San Francisco region in-service properties 1, 2, 3 as of March 31, 2026 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Under Expiring Leases Expiring Leases with future step-ups Rentable Square Rentable Square Quarte
Slide 51: Lease expirations - Seattle region
Q1 2026 Lease expirations - Seattle region in-service properties 1, 2, 3 as of March 31, 2026 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Under Expiring Leases Expiring Leases with future step-ups Rentable Square Rentable Square Year Footage4 Footage4
Slide 52: Quarterly lease expirations - Seattle region
Q1 2026 Quarterly lease expirations - Seattle region in-service properties 1, 2, 3 as of March 31, 2026 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Under Expiring Leases Expiring Leases with future step-ups Rentable Square Rentable Square Quarter Foot
Slide 53: Lease expirations - Washington, DC region
Q1 2026 Lease expirations - Washington, DC region in-service properties 1, 2, 3 as of March 31, 2026 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Under Expiring Leases Expiring Leases with future step-ups Rentable Square Rentable Square Year Footage4 F
Slide 54: Quarterly lease expirations - Washington, DC region
Q1 2026 Quarterly lease expirations - Washington, DC region in-service properties 1, 2, 3 as of March 31, 2026 OFFICE BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Under Expiring Leases Expiring Leases with future step-ups Rentable Square Rentable Square Quart
Slide 55: Lease expirations - CBD properties
Q1 2026 Lease expirations - CBD properties 1, 2, 3 as of March 31, 2026 Boston BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Rentable Square Rentable Square Under Expiring Leases Expiring Leases with future step-ups Year Footage4 Footage4 $ $/PSF $ $/PSF 2026
Slide 56: Lease expirations - CBD properties (continued)
Q1 2026 Lease expirations - CBD properties (continued) 1, 2, 3 as of March 31, 2026 San Francisco BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Rentable Square Rentable Square Under Expiring Leases Expiring Leases with future step-ups Year Footage4 Footage4 $
Slide 57: Lease expirations - Suburban properties
Q1 2026 Lease expirations - Suburban properties 1, 2, 3 as of March 31, 2026 Boston BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Under Expiring Leases Expiring Leases with future step-ups Rentable Square Rentable Square Year Footage4 Footage4 $ $/PSF $ $/PSF
Slide 58: Lease expirations - Suburban properties (continued)
Q1 2026 Lease expirations - Suburban properties (continued) 1, 2, 3 as of March 31, 2026 Washington, DC BXP’s Share Current Annualized Rental Obligations Annualized Rental Obligations Under Rentable Square Rentable Square Under Expiring Leases Expiring Leases with future step-ups Year Footage4 Foota
Slide 59: Research coverage
Q1 2026 Research coverage With the exception of Green Street Advisors, an independent research firm, the equity analysts listed below are those analysts that, according to Thomson Reuters Corporation, have published research material on the Company and are listed as covering the Company. Please note
Slide 60: Definitions
Q1 2026 Definitions This section contains definitions of certain non-GAAP financial measures and other terms that the Company uses in this Supplemental report and, if applicable, the reasons why management believes these non-GAAP financial measures provide useful information to investors about the C
Slide 61: Definitions (continued) - EBITDAre
Q1 2026 Definitions (continued) Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate (EBITDAre) Pursuant to the definition of Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate adopted by the Board of Governors of the National Association of Real
Slide 62: Definitions (continued) - Funds from Operations (FFO)
Q1 2026 Definitions (continued) Funds from Operations (FFO) Pursuant to the revised definition of Funds from Operations adopted by the Board of Governors of Nareit, the Company calculates Funds from Operations, or “FFO,” by adjusting net income attributable to BXP, Inc. (computed in accordance with
Slide 63: Definitions (continued) - Net Operating Income (NOI)
Q1 2026 Definitions (continued) Net Operating Income (NOI) Net operating income (NOI) is a non-GAAP financial measure equal to net income (loss) attributable to BXP, Inc., the most directly comparable GAAP financial measure, plus (1) net income (loss) attributable to noncontrolling interests, corpor
Slide 64: Reconciliations
Q1 2026 Reconciliations (unaudited and in thousands) BXP’s Share of select items Three Months Ended 31-Mar-26 31-Dec-25 Revenue $ 872,148 $ 877,097 Partners’ share of revenue from consolidated joint ventures (JVs) (90,250) (87,619) BXP’s share of revenue from unconsolidated JVs 43,572 54,258 BXP’s S
Slide 65: Reconciliations (continued)
Q1 2026 Reconciliations (continued) Maintenance capital expenditures 3 $ 18,984 $ 18,157 Partners’ share of maintenance capital expenditures from consolidated JVs 3 (2,792) (1,615) BXP’s share of maintenance capital expenditures from unconsolidated JVs 3 455 629 BXP’s Share of maintenance capital ex
Slide 66: Reconciliations - Consolidated joint ventures
Q1 2026 Reconciliations (continued) for the three months ended March 31, 2026 (unaudited and in thousands) CONSOLIDATED JOINT VENTURES 767 Fifth Avenue Total Consolidated (The GM Building) Norges Joint Ventures 1 Joint Ventures Revenue Lease 2 $ 81,832 $ 118,236 $ 200,068 Straight-line rent 3,531 4,
Slide 67: Reconciliations - Partners' share of NOI
Q1 2026 Reconciliations (continued) for the three months ended March 31, 2026 (unaudited and in thousands) CONSOLIDATED JOINT VENTURES 767 Fifth Avenue Total Consolidated Reconciliation of Partners’ share of Net Operating Income (Loss) (NOI) 6 (The GM Building) Norges Joint Ventures 1 Joint Ventures
Slide 68: Reconciliations - Unconsolidated joint ventures
Q1 2026 Reconciliations (continued) for the three months ended March 31, 2026 (unaudited and in thousands) UNCONSOLIDATED JOINT VENTURES 1 Total Los San Washington, Unconsolidated Boston Angeles New York Francisco Seattle DC Joint Ventures Revenue Lease 2 $ 28,307 $ 20,627 $ 19,201 $ 141 $ 7,331 $ 1
Slide 69: Reconciliation of BXP's share of Net Operating Income
Q1 2026 Reconciliations (continued) UNCONSOLIDATED JOINT VENTURES 1 Total Reconciliation of BXP’s share of Net Los San Washington, Unconsolidated Operating Income (Loss) Boston Angeles New York Francisco Seattle DC Joint Ventures BXP’s share of rental revenue 3 $ 14,321 $ 10,654 5 $ 8,571 5 $ 77 $ 2
Slide 70: Reconciliation to BXP's Share of same property NOI (prior period)
Q1 2026 Reconciliations (continued) Reconciliation of Net income (loss) attributable to BXP, Inc. to BXP’s Share of same property net operating income (NOI) (dollars in thousands) Three Months Ended 31-Dec-25 31-Dec-24 Net income (loss) attributable to BXP, Inc. $ 248,486 $ (230,019) Net (income) lo
Slide 71: Reconciliation to same property NOI - cash (prior period)
Q1 2026 Reconciliations (continued) Reconciliation of Net income (loss) attributable to BXP, Inc. to BXP’s Share of same property net operating income (NOI) - cash (dollars in thousands) Three Months Ended 31-Dec-25 31-Dec-24 Net income (loss) attributable to BXP, Inc. $ 248,486 $ (230,019) Net (inc
Slide 72: Consolidated Income Statement - prior year
Q1 2026 Consolidated Income Statement - prior year (unaudited and in thousands, except per share amounts) Three Months Ended 31-Mar-25 31-Dec-24 Revenue Lease $ 811,102 $ 798,189 Parking and other 30,146 33,135 Insurance proceeds 96 921 Hotel revenue 9,597 13,144 Development and management services