Highwoods Properties, Inc. (NYSE:HIW) Q3 2022 Earnings Conference Call October 26, 2022 11:00 AM ET Company Participants Hannah True – Investor Relations Ted Klinck – Chief Executive Officer Brian Leary – Chief Operating Officer Brendan Maiorana – Chief Financial Officer Conference Call Participants Blaine Heck – Wells Fargo Jeff Spector – Bank of America Michael Griffin – Citi Rob Stevenson – Janney Montgomery Scott Ronald Kamdem – Morgan Stanley Dave Rodgers – Baird Tom Catherwood – BTIG Operator Greeting ...

Highwoods Properties, Inc. (NYSE:HIW) Q2 2022 Earnings Conference Call July 27, 2022 11:00 AM ET Company Participants Hannah True - Investor Relations Ted Klinck - Chief Executive Officer Brian Leary - Chief Operating Officer Brendan Maiorana - Chief Financial Officer Conference Call Participants Jamie Feldman - Bank of America Rob Stevenson - Janney Montgomery Scott Michael Griffin - Citi Blaine Heck - Wells Fargo David Rodgers - Baird Tayo Okusanya - Credit Suisse Daniel Ismail - Green Street Advisors Op ...

Highwoods Properties, Inc. (NYSE:HIW) Q1 2022 Earnings Conference Call April 27, 2022 11:00 AM ET Company Participants Hannah True - Manager of Finance and Corporate Strategy Ted Klinck - President and CEO Brian Leary - COO Brendan Maiorana - CFO Conference Call Participants Vikram Malhotra - Mizuho Securities Blaine Heck - Wells Fargo Rob Stevenson - Janney Montgomery Scott Manny Korchman - Citigroup Ronald Kamdem - Morgan Stanley Michael Lewis - Truist Securities Operator Good morning. And welcome to ...

| Highwoods . QUALITY. RESILIENCY. GROWTH. SAFE HARBOR 2 Some of the information in this presentation may contain forward-looking statements. Such statements include, in particular, statements about our plans, strategies and prospects such as the following: the planned sales of non-core assets and expected pricing and impact with respect to such sales, including the tax impact of such sales; the expected financial and operational results and the related assumptions underlying our expected results, including ...

Financial Data and Key Metrics Changes - The company reported FFO of $1.06 per share for Q4 2021, including $0.09 from land sale gains, with a full-year FFO of $3.77 per share, exceeding the high-end of the revised outlook by $0.01 [12][39] - Same property cash NOI growth was 3.2% for the quarter and 5.5% for the year, with year-end occupancy reaching 91.2% [13][29] - The company achieved a debt-to-EBITDA ratio of 5.4x, down from 5.6x at the end of Q3 2021 [15][41] Business Line Data and Key Metrics Changes - The company acquired $800 million in high-quality office buildings and completed $356 million in office development, with a 92% lease rate [9][24] - The development pipeline stands at $283 million, with 51% pre-leased [17] - The company signed 194 new second-generation leases totaling 1.1 million square feet in 2021, the highest since 2006 [24] Market Data and Key Metrics Changes - The company noted positive net absorption in markets such as Atlanta, Raleigh, Nashville, and Charlotte, with Raleigh experiencing significant demand for tech and life science jobs [31][32] - Tampa was highlighted as the top housing market for 2022, with office rents increasing by 7% [33] - The company reported a modest increase in occupancy, with expectations for further growth in the latter half of 2022 [29][70] Company Strategy and Development Direction - The company aims to generate sustainable returns by developing and acquiring high-quality office buildings in Best Business Districts (BBDs) [8] - A focus on capital recycling has led to the sale of $1 billion in non-core properties and the acquisition of $1.3 billion in high-quality assets over the past three years [47] - The company plans to sell $150 million to $200 million of non-core assets to return balance sheet metrics to pre-acquisition levels [22][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's long-term growth prospects, citing strong leasing activity and a resilient portfolio [11][25] - The anticipated gradual increase in portfolio utilization throughout 2022 was highlighted, with expectations for same property cash NOI growth of 0% to 2% [21][44] - Management acknowledged the competitive acquisition market, with cap rates for high-quality assets remaining low [65][66] Other Important Information - The company has a land bank capable of supporting $2.3 billion in future office developments and nearly $2 billion in mixed-use developments [20] - The company is focused on maintaining a strong balance sheet while investing in growth opportunities [41][47] Q&A Session Summary Question: Can you talk about the operating expense guidance and what's driving the increase this year? - Management explained that operating expenses are expected to normalize in 2022, with a significant portion of leases being full-service gross leases, impacting recoveries [52][54] Question: What are your expectations for AFFO or FAD during the year in 2022? - Management indicated that cash flow tends to be more volatile than FFO, but strong cash flow growth over the past few years supports healthy distributions [57][59] Question: Can you provide color on your expectations for acquisitions and dispositions? - Management noted that they have not yet contracted any of the planned dispositions but are confident in achieving the target by mid-year [84][86] Question: How does the company view the competitive landscape for acquisitions? - Management highlighted that high-quality assets are in high demand, with cap rates remaining competitive, particularly for new buildings [65][66] Question: What are your thoughts on tenant retention and the expiration schedule? - Management expects a lower retention ratio this year but noted that there are not many large expirations, which should mitigate risks [67][70]

Highwoods Properties, Inc. (NYSE:HIW) Q3 2021 Results Conference Call October 27, 2021 11:00 AM ET Company Participants Brendan Maiorana - SVP, Finance & IR Ted Klinck - CEO Brian Leary - COO Mark Mulhern - CFO Conference Call Participants Rob Stevenson - Janney Dave Rodgers - Baird Ronald Kamdem - Morgan Stanley Jamie Feldman - Bank of America Operator Good morning, and welcome to the Highwoods Properties Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded, Wednesday, Oc ...

Highwoods Properties, Inc. (NYSE:HIW) Q2 2021 Earnings Conference Call July 28, 2021 11:00 AM ET Company Participants Brendan Maiorana - EVP, Finance & Treasurer Theodore Klinck - President, CEO & Director Brian Leary - EVP & COO Mark Mulhern - EVP & CFO Conference Call Participants Emmanuel Korchman - Citigroup James Feldman - Bank of America Merrill Lynch Robert Stevenson - Janney Montgomery Scott David Rodgers - Robert W. Baird & Co. Vikram Malhotra - Morgan Stanley Operator Good morning, and welcome to ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | AT-A-GLANCE \| 1Q21 | | | | | | | | | | CREATING ENVIRONMENTS THAT Spark EXPERIENCES WHERE THE BEST AND BRIGHTEST CAN ACHIEVE TOGETHER WHAT THEY CANNOT APART | | | | | | | | | | Highwood ...

Start Time: 11:00 January 1, 0000 11:57 AM ET Highwoods Properties, Inc. (NYSE:HIW) Q1 2021 Earnings Conference Call April 28, 2021, 11:00 AM ET Company Participants Ted Klinck - President and CEO Mark Mulhern - EVP and CFO Brian Leary - EVP and COO Brendan Maiorana - EVP, Finance and Treasurer Conference Call Participants Brendan Finn - Wells Fargo Parker Decraene - Citi Vikram Malhotra - Morgan Stanley Rob Stevenson - Janney Montgomery Scott Venkat Kommineni - Mizuho Dave Rogers - Baird Jamie Feldman - Ba ...

Highwoods Properties Inc (NYSE:HIW) Q4 2020 Earnings Conference Call February 10, 2021 11:00 AM ET Company Participants Brendan Maiorana - Investor Relations Ted Klinck - Chief Executive Officer Brian Leary - Chief Operating Officer Mark Mulhern - Chief Financial Officer Conference Call Participants Blaine Heck - Wells Fargo Manny Korchman - Citi Jamie Feldman - Bank of America Rob Stevenson - Janney Dave Rogers - Baird Venkat Kommineni - Mizuho Vikram Malhotra - Morgan Stanley Chris Lucas - Capital One Se ...