Hudson Pacific Properties Reports First Quarter 2026 Financial Results

About this update from Hudson Pacific Properties, Inc.

– Executed Over 550,000 Square Feet of Office Leases, Third Consecutive Quarter of Occupancy Gains – – Hollywood Stages 97% Leased, Sunset Pier 94 Stages Reached 100% Leased by Quarter End – – G&A Improved 32% Year-Over-Year, Reflecting Continued Cost Discipline – – $933 Million of Total Liquidity – – Raises Full-Year 2026 FFO Outlook – ____________ LOS ANGELES, May 07, 2026 --( BUSINESS WIRE )-- Hudson Pacific Properties, Inc. (NYSE: HPP) (the "Company," "Hudson Pacific," or "HPP") today announced financial and operating results for the first quarter 2026. Victor Coleman, Hudson Pacific's CEO and Chairman, commented, "Our first quarter results reflect the meaningful progress we're making to position Hudson Pacific for long-term value creation. We delivered our third consecutive quarter of occupancy gains, executing over 550,000 square feet of office leases, while our Hollywood studio stages reached 97% leased and Sunset Pier 94 achieved 100% leased within its first quarter of operations. We also continued to strengthen our financial foundation, improving G&A by 32% year-over-year, maintaining total liquidity in excess of $930 million, and growing Core FFO sequentially on a per share basis. "West Coast office fundamentals are improving, and we're well positioned to capture that recovery. AI-driven demand is translating into record leasing activity, and we're making the deliberate decisions necessary to sharpen our focus on our highest-performing assets and lines of business. Our strong first quarter, continued leasing momentum, and the further streamlining of Quixote have led us to raise our outlook, reinforcing our path to FFO growth through the balance of the year." Financial Results Compared to First Quarter 2025 Office Leasing Studio Leasing Balance Sheet as of March 31, 2026 Dividend 2026 Outlook Hudson Pacific is increasing its full-year 2026 Core FFO outlook to $1.10 to $1.18 per diluted share, from the prior range of $0.96 to $1.06. This revised range reflects two key drivers. First, approximately $0.04 of outperformance in first quarter compared to initial expectations. Second, a $0.09 benefit from reclassification of Quixote's leased sound stages and Atlanta-area operations as discontinued operations beginning in second quarter 2026. Note this benefit is based upon expectations for the discontinued operations included in the Company’s previous full-year outlook. This outlook reflects management’s view of current and future market conditions, including assumptions with respect to rental rates, occupancy levels and the earnings impact of events referenced in this press release and in earlier announcements. It otherwise excludes any impact from new acquisitions, dispositions, debt financings, amendments or repayments, recapitalizations, capital markets activity or similar matters. There can be no assurance that actual results will not differ materially from these estimates. The table below reflects key assumptions for this outlook: The Company does not provide a reconciliation for non-GAAP estimates on a forward-looking basis, where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and/or amount of various items that would impact net income attributable to common stockholders per diluted share, which is the most directly comparable forward-looking GAAP financial measure. This includes, for example, acquisition costs and other non-core items that have not yet occurred, are out of the Company's control and/or cannot be reasonably predicted. For the same reasons, the Company is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. Supplemental Information Supplemental financial information regarding Hudson Pacific's first quarter 2026 results may be found on the Investors section of the Company's website at HudsonPacificProperties.com . This supplemental information provides additional detail on items such as property occupancy, financial performance by property and debt maturity schedules. Conference Call The Company will hold a conference call to discuss first quarter 2026 financial results at 9:00 a.m. PT / 12:00 p.m. ET on May 7, 2026. The conference call will be available via live audio webcast on the Investors section of the Company's website at HudsonPacificProperties.com . A replay of the audio webcast will also be available following the call. About Hudson Pacific Properties Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific’s unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. For more information visit HudsonPacificProperties.com . Forward-Looking Statements This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events, or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by the Company from time to time with the SEC. (FINANCIAL TABLES FOLLOW)   View source version on businesswire.com: https://www.businesswire.com/news/home/20260507973038/en/ Contacts Investor Contact Laura Campbell Executive Vice President, Investor Relations & Marketing (310) 622-1702 [email protected] Media Contact Laura Murray Vice President, Communications (310) 622-1781 [email protected]

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