Washington Real Estate Investment Trust (WRE) Q4 2020 Earnings Conference Call February 12, 2021 11:00 AM ET Company Participants Amy Hopkins - VP, IR Paul McDermott - Chairman, President & CEO Stephen Riffee - EVP & CFO Conference Call Participants Anthony Paolone - JP Morgan Blaine Heck - Wells Fargo Dave Rodgers - Robert W. Baird Chris Lucas - Capital One Securities Welcome to the Washington Real Estate Investment Trust fourth quarter earnings conference call. As a reminder, today's call is being recorde ...

Financial Data and Key Metrics Changes - The company reported core FFO of $0.36 per diluted share for the third quarter of 2020, with same-store NOI declining 4.9% on a GAAP basis and 3.6% year-to-date [43][44] - Overall multifamily same-store NOI decreased by 3.8% year-over-year on both GAAP and cash basis [44] - The company maintained a strong liquidity position with approximately $520 million available, following the execution of a $350 million green bond [42] Business Line Data and Key Metrics Changes - Multifamily collections were strong, with 99% of cash in contractual rents collected during the third quarter, outperforming national averages [33][34] - Office collections improved to 97% of cash rents collected during the third quarter, with 88% for retail tenants [36][38] - The suburban multifamily portfolio continued to outperform, with gross lease rates increasing by 1.1% during the third quarter [45] Market Data and Key Metrics Changes - The Washington Metro region showed resilience, with no office-using sector losing more than 4% of the total workforce year-over-year [11] - The tech sector leasing activity in Northern Virginia is expected to increase, with over 1.5 million square feet of active requirements in the pipeline [19] - The company’s multifamily units are primarily affordable, with over 75% of units affordable to renters earning $75,000 or less [15][16] Company Strategy and Development Direction - The company is focused on long-term strategic growth plans and has reshaped its portfolio ahead of the downturn [7][19] - The suburban expansion through the Assembly portfolio acquisition is performing well, capitalizing on the demand for spacious living [20] - The company aims to achieve BREEAM certification for the Assembly portfolio and LEED Silver certification for Trove, emphasizing sustainability [40][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the portfolio and the ability to absorb near-term impacts while preserving long-term growth opportunities [9][27] - The company withdrew its previously issued 2020 outlook due to the volatile macro environment but reinstated guidance with core FFO per share expected to range from $1.44 to $1.46 [55][58] - Management noted that the duration and extent of economic disruption in 2021 remains uncertain, but they expect growth to resume sequentially in 2021 [57][58] Other Important Information - The company has implemented enhanced cleaning protocols and safety measures in its commercial properties to prepare for reentry [8] - The company was recognized for its robust ESG program, receiving an award for the Best Corporate Responsibility Program in DC and Maryland [29][30] Q&A Session Summary Question: Is there an increase in transactional volume in the investment sales market? - Management noted that suburban multifamily markets are seeing increased activity, while downtown D.C. is hindered by TOPA regulations [76][77] Question: Are there more core deals or value-add deals on the market? - Management indicated that Northern Virginia is seeing more value-add deals due to the resiliency of the job market, while D.C. is less active [84][85] Question: What is the outlook for smaller tenants in terms of space utilization? - Smaller tenants are returning to the office, while larger tenants are more cautious and considering longer-term deals [93][94] Question: What is the company's stance on potential asset dispositions? - Management remains open to monetizing assets if compelling offers arise, but is currently focused on maintaining cash flow [102][103]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________ ___________________________________________________ Large Accelerated Filer ☒ Accelerated Filer ☐ Non-accelerated Filer ☐ Smaller Reporting Company ☐ Emerging Growth Company ☐ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECU ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________ ___________________________________________________ Large Accelerated Filer ☒ Accelerated Filer ☐ Non-accelerated Filer ☐ Smaller Reporting Company ☐ Emerging Growth Company ☐ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIE ...

Washington Real Estate Investment Trust (WRE) Q2 2020 Earnings Conference Call July 29, 2020 9:00 AM ET Company Participants Amy Hopkins - Vice President of Investor Relations Paul McDermott - President and Chief Executive Officer Steve Riffee - Executive Vice President and Chief Financial Officer Grant Montgomery - Vice President and Head of Research Conference Call Participants Anthony Paolone - JP Morgan Blaine Heck - Wells Fargo Dave Rogers - Baird Bill Crow - Raymond James Operator Welcome to Washingto ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________ FORM 10-Q ___________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. COMMISSION FILE NO. 1-6622 WASHINGTON REAL ESTATE INVESTMENT TRUST (Exact name of registrant as spe ...

Washington Real Estate Investment Trust (WRE) Q1 2020 Earnings Conference Call April 23, 2020 11:00 AM ET Company Participants Amy Hopkins - Vice President of Investor Relations Paul McDermott - President and Chief Executive Officer Steve Riffee - Executive Vice President and Chief Financial Officer Grant Montgomery - Vice President and Head of Research Conference Call Participants Blaine Heck - Wells Fargo Michael Lewis - SunTrust Robinson Humphreys Bill Crow - Raymond James Joab Dempsey - Stifel Chris Luc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________ FORM 10-K ___________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 COMMISSION FILE NO. 001-06622 ___________________________________________________ WASHINGTON REAL ESTATE ...

Washington Real Estate Investment Trust (WRE) Q4 2019 Earnings Conference Call February 14, 2020 11:00 AM ET Company Participants Amy Hopkins - VP of IR Paul McDermott - President and CEO Steve Riffee - EVP and CFO Drew Hammond - VP, Chief Accounting Officer and Treasurer Grant Montgomery - Director of Research Conference Call Participants John Guinee - Stifel Chris Lucas - Capital One Operator Welcome to the Washington Real Estate Investment Trust Year-End 2019 Earnings Conference Call. As a reminder, toda ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________ FORM 10-Q ___________________________________________________ Large Accelerated Filer ☒ Accelerated Filer ☐ Non-accelerated Filer ☐ Smaller Reporting Company ☐ Emerging Growth Company ☐ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECU ...