Kilroy Realty Corporation · NYSE:KRC
Kilroy Realty — Nareit December 2025
29 slides from Kilroy Realty's conference presentation, December 2025
Slide 1: Kilroy Realty Corporation Nareit December 2025 Update
Kilroy Realty Corporation Nareit December 2025 Update Where Innovation Works West8 | Seattle, WA
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 16.8M Office and Life Science Properties 121 Stabilized Occupancy (%) / Leased (%) 81.0% / 83.3% − Kilroy Realty Corporation (“KRC” or the “Company”) is a leading, publicly traded Signed But Not Commenced Space
Slide 4: 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 re
Slide 5: 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 − Deploy capital with −
Slide 6: West Coast Office Recovery
West Coast Office Recovery Where Innovation Works 6
Slide 7: West Coast Office Recovery
West Coast Office Recovery The West Coast Remains the Nation’s Leading Hub of Seattle Innovation and Discovery − Access to Educated Workforce – KRC’s West Coast markets are home to many premier academic institutions, supplying a deep talent pool for the technology, life sciences, and professional se
Slide 8: Recalibrated Office Demand
West Coast Office Recovery Recalibrated Office Demand − Evolving Office Dynamics – KRC continues to capitalize on accelerating momentum in West Coast office and life science markets. Across the board, return to office is accelerating, supported by evolving workplace norms, shifting employer expectat
Slide 9: Evolving Return to Office Sentiment
Fortune 100 Office Attendance Policies West Coast Office Recovery Q4 2022 Q3 2025 Team Team Fully Remote Dependent/Other Evolving Return to Office Sentiment Dependent/Other 14% 2% 1% Fully Remote Hybrid 14% Fully In- 41% Hybrid Office − The ongoing shift in workplace policies among large 56% 70% emp
Slide 10: AI is Positively Reshaping Office and Life Science Demand
West Coast Office Recovery AI is Positively Reshaping Office and Life Science Demand in Major Innovation Driven Markets AI is positively reshaping demand and reinforcing the strategic importance of well-located real estate, particularly in the Bay Area, where concentrations of talent and VC funding
Slide 11: Leasing Performance and Outlook
Leasing Performance and Outlook Where Innovation Works 11
Slide 12: Positive Momentum Throughout 2025 and Encouraging Forward Leasing Indicators
Leasing Performance and Outlook Positive Momentum Throughout 2025 and Encouraging Forward Leasing Indicators − The Company reported strong leasing performance in Q3 2025, with over 550K SF of new and renewal leases, marking KRC’s largest third quarter of leasing activity and strongest year-to-date p
Slide 13: High-Quality Vacancies Positioned to Benefit From Improving Dynamics
Leasing Performance and Outlook KRC’s High-Quality Vacancies Are Uniquely Positioned to Benefit From Improving Dynamics − As of September 30, 2025, approximately 330bps of portfolio leased vacancy and 400bps of portfolio occupied vacancy was concentrated in the Company’s recently developed or reposi
Slide 14: Kilroy Oyster Point Phase 2 Update
Kilroy Oyster Point Phase 2 Update Where Innovation Works 14
Slide 15: KOP 2 Project Overview
Kilroy Oyster Point Phase 2 (“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
Slide 16: Key Project Differentiators
KOP 2 Update Key Project Differentiators – Strategic Location: The project’s 50-acre waterfront campus on Oyster Point Boulevard places KOP in the heart of South San Francisco, the Bay Area’s most active life science submarket. The site offers multi-modal connectivity, including walkable access to t
Slide 17: KOP Leasing Update
KOP 2 Update KOP 2 Leasing Update KOP 2 is benefiting from a material improvement in sentiment and activity, with 84K SF of leases executed to date with established, well-capitalized biotech companies 84K SF of Leases Signed Year-to- Date 100K SF 16K SF 24K SF 44K SF of Total Expected Expected Occup
Slide 18: Capital Allocation
Capital Allocation Where Innovation Works 18
Slide 19: Capital Allocation Guiding Principles
Capital Allocation Guiding Principles − As part of the Company’s broader strategy to enhance portfolio resilience and drive long-term cash flow growth, KRC is recycling capital in a disciplined manner designed to position the Company for outperformance in an evolving market environment • KRC is harv
Slide 20: Strategic Capital Reallocation
Investment Update Strategic Capital Reallocation Sunnyvale Campus | Sunnyvale, CA 501 Santa Monica | Santa Monica, CA Maple Plaza | Beverly Hills, CA Sunnyvale Campus Disposition (Sunnyvale, CA) Maple Plaza Acquisition (Beverly Hills, CA) − Transaction Overview: In September, completed the sale of t
Slide 21: Strong Balance Sheet and Robust Liquidity Profile
Strong Balance Sheet and Robust Liquidity Profile Where Innovation Works 21
Slide 22: 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 September 30, 2025) Debt Statistics − $1.5B of available liquidity, as of September 30, 20
Slide 23: Environmental, Social, and Governance
Environmental, Social, and Governance Where Innovation Works 23
Slide 24: 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 and productivity of its tenants, employees, and communities, and enhancing its financial and operational performan
Slide 25: 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 26: 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 highly engaged workforce, and a positive impact on KRC’s local communities. These goals align with five tenets that define
Slide 27: Building Certifications
Environmental, Social, and Governance Building Certifications LEED Fitwel Carbon Neutral Operations 69% 47% 100% Portfolio Portfolio Carbon Neutral Certified 12,848,335 Total Certified SF Certified 8,637,669 Total Certified SF Operations 100% of KRC’s stabilized portfolio is operating on a carbon ne
Slide 28: Achievements and Accolades
Environmental, Social, and Governance Achievements and Accolades Carbon Neutral Operations Best in Building Health KRC achieved Carbon Neutral Operations, Fitwel Excellence Award, 2020-2024 Most Certifications of All Time, 2019-2022 Energy Star Newsweek Partner of the Year, 2014-2024 America’s Most
Slide 29: Where Innovation Works
Where Innovation Works Where Innovation Works