KRC

• Kilroy Realty Corporation (NYSE: KRC, "Kilroy") announced today it will release first quarter 2024 financial results after the market closes on Thursday, May 2, 2024.
• The company will hold a conference call to discuss the results at 9:00 a.m. PT / 12:00 p.m.
• ET on Friday, May 3, 2024.
• To participate and obtain conference call dial-in details, register by using the following link:
  A replay will also be available beginning May 3, 2024 through May 10, 2024, by dialing (866) 813-9403 and entering access code 591632. International callers should dial (929) 458-6194 and enter the same access code.

Kilroy Realty Corporation (NYSE: KRC, "Kilroy") announced today that its Board of Directors declared a regular quarterly cash dividend of $0.54 per common share payable on April 10, 2024 to stockholders of record on March 29, 2024. The dividend is equivalent to an annual rate of $2.16 per share.

• Kilroy Realty Corporation (NYSE: KRC) today reported financial results for its fourth quarter and full year ended December 31, 2023.
• Funds from operations available to common stockholders and unitholders (“FFO”) of $129.3 million, or $1.08 per diluted share
  Stabilized portfolio was 85.0% occupied and 86.4% leased at December 31, 2023
  Signed approximately 588,000 square feet of new and renewal leases during the quarter, including short-term leases, the highest quarterly leasing volume since Q2 2019
  GAAP and cash rents increased 21.7% and 1.6%, respectively, from prior levels in the stabilized portfolio, excluding short-term leases
  For the full year, signed approximately 1,347,000 square feet of new and renewal leases, including short-term leases, the highest annual leasing volume since 2019
  During the fourth quarter, added Indeed Tower, a $690.0 million, approximately 759,000 square foot office building in the Austin CBD, which is currently 78% leased and 65% occupied
  During the third quarter, added 9514 Towne Centre Drive, a $60.0 million, approximately 71,000 square foot office building in the University Towne Center submarket of San Diego, which is 100% leased and occupied
  During the first quarter, increased the borrowing capacity of the unsecured term loan facility to $520.0 million, which was fully outstanding at December 31, 2023
  During the third quarter, entered into an eleven-year, non-recourse mortgage note for $375.0 million.
• The mortgage note bears interest at a fixed rate of 5.90% and matures on August 10, 2034
  As of the date of this release, the company had approximately $2.2 billion of total liquidity comprised of approximately $1.1 billion of cash and short-term investments and approximately $1.1 billion available under the unsecured revolving credit facility
  The company’s Board of Directors (the “Board”) declared and paid a regular quarterly cash dividend on its common stock of $0.54 per share, equivalent to an annual rate of $2.16
  On-site solar at company properties has the capacity to generate over six megawatts of clean electricity, which is equivalent to the annual electricity use of over 1,200 homes
  For the eighth consecutive year, awarded the ENERGY STAR Partner of the Year Sustained Excellence Award
  For the fifth consecutive year, included in Bloomberg’s Gender Equality Index
  On January 21, 2024, John Kilroy retired as Chief Executive Officer (“CEO”) and effective January 22, 2024, Angela Aman assumed the CEO role and joined the Board.
• John Kilroy will serve as an advisor through the end of 2024 and will remain Chair of the Board through his current term
  The company is providing Nareit-defined FFO per diluted share guidance for the full year 2024 of $4.10 to $4.25 per share, with a midpoint of $4.18 per share.

• Kilroy Realty Corporation (NYSE: KRC) (the “Company”) today announced that its operating partnership, Kilroy Realty, L.P., has priced an underwritten public offering of $400 million aggregate principal amount of 6.250% senior notes due 2036 (the “Notes”).
• The Notes are being offered at a price equal to 98.879% of the principal amount, plus accrued interest, if any, with a yield to maturity of 6.385%.
• Net proceeds from the offering are expected to be approximately $392 million, after deducting the underwriting discount and the Company’s estimated expenses.
• The Notes are being offered pursuant to an effective shelf registration statement filed by Kilroy Realty Corporation and Kilroy Realty, L.P. with the Securities and Exchange Commission (“SEC”).