Highwoods Properties, Inc.

Overview

Highwoods Properties and its operating partnership own and operate real estate properties that are classified as in-service. Development projects are excluded from in-service status until they are completed and stabilized.

Core business model

• Owns and operates in-service properties.
• In-service properties include:
  • Wholly owned properties.
  • Properties owned by consolidated and unconsolidated joint ventures, counted at the company’s share.
• Development projects are tracked separately and become in-service once completed and stabilized.

Stabilization criteria

A project is considered stabilized at the earlier of:

• The projected stabilization date; or
• The date on which occupancy generally exceeds 93%.

Reporting approach and organizational structure

• The combined report includes the Annual Reports on Form 10-K for the period ended December 31, 2025 of Highwoods Properties, Inc. (the Company) and Highwoods Realty Limited Partnership (the Operating Partnership).
• Combining the reports:
  • Presents the business as a single operating unit for management and investors.
  • Enables investors to view the business as a whole in the same manner as management.
  • Improves efficiency and reduces duplicative disclosure by providing a single document.

Presentation of differences between entities

To clarify significant differences between the Company and the Operating Partnership, the report provides separate sections for:

• Item 9A – Controls and Procedures
• Item 15 – Certifications of CEO and CFO Pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act
• Consolidated Financial Statements
• Note 10 – Equity
• Note 13 – Earnings Per Share and Per Unit

Contents and structure

The Table of Contents for the combined report shows coverage of PART I, including:

• 1. BUSINESS
• 1A. RISK FACTORS
• 1B. UNRESOLVED STAFF COMMENTS
• 1C. CYBERSECURITY
• 2. PROPERTIES
• 3. LEGAL PROCEEDINGS
• 4. MINE SAFETY DISCLOSURES
• X. INFORMATION ABOUT OUR EXECUTIVE OFFICERS

Entities included

The combined report covers Highwoods Properties, Inc. and Highwoods Realty Limited Partnership.