KRC

EX-99.1

2 exhibit991.htm

EX-99.1

exhibit991

Exhibit 99.1

Kilroy Realty

Supplemental Financial Report

Q3 2026

Kilroy Oyster Point, South San Francisco, CA

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KILROY REALTY CORPORATION REPORTS

THIRD QUARTER FINANCIAL AND OPERATIONAL RESULTS

LOS ANGELES, October 22, 2026 - Kilroy Realty Corporation (NYSE: KRC) (“Kilroy” or the “Company”) today reported financial and operational results for

the third quarter ended September 30, 2026.

“Momentum in our West Coast markets continued to accelerate in the third quarter, with over 800,000 square feet of long-term leases signed, representing

one of the Company’s highest quarterly leasing volumes since 2019,” said Angela Aman, Chief Executive Officer. “The breadth of activity was particularly

notable, as we recorded sequential leased occupancy gains across all five of our regions and strong re-leasing spreads, driven by activity from a wide variety

of users and industries. Looking ahead, our high-quality portfolio, solid balance sheet, and nimble approach position us well to capitalize on the real-time

fundamental improvements we are seeing across our regions.”

Financial Results

•Revenues of $271.6 million for the quarter ended September 30, 2026, as compared to $279.7 million for the quarter ended September 30, 2025

•Net income available to common stockholders of $15.5 million, or $0.13 per diluted share, for the quarter ended September 30, 2026, as compared

to $156.2 million, or $1.31 per diluted share, for the quarter ended September 30, 2025

•Funds from operations (“FFO”) of $104.6 million, or $0.88 per diluted share, for the quarter ended September 30, 2026, as compared to $130.6

million, or $1.08 per diluted share, for the quarter ended September 30, 2025

Leasing and Occupancy

•Stabilized Portfolio was 76.9% occupied and 83.0% leased at September 30, 2026, representing 610 basis points of leases signed but not yet

commenced

◦Excluding Kilroy Oyster Point Phase 2 (“KOP 2”), the Stabilized Portfolio was 80.7% occupied and 84.8% leased at September 30, 2026,

representing 410 basis points of leases signed but not yet commenced

•During the quarter, signed approximately 815,000 square feet of leases

◦Leasing activity was comprised of 345,000 square feet of new leasing on previously vacant space, 127,000 square feet of new leasing on

currently occupied space, and 343,000 square feet of renewal leasing

▪Renewal leasing included a 12-year, approximately 243,000 square-foot renewal at Crossing 900 with Box, Inc., a leading content

management company

▪Leasing activity during the quarter included approximately 12,000 square feet of short-term leasing

•GAAP and cash rents on leases signed during the quarter increased 30.6% and 9.7%, respectively, from prior levels on Second Generation leasing,

excluding short-term leasing

◦Excluding leases signed on space vacant for more than 12 months, GAAP and cash rents on leases signed during the quarter increased

37.9% and 13.9%, respectively

Land Site Under Contract

•In August, entered into an agreement, subject to a non-refundable deposit, to sell the land at Kilroy East Village in San Diego for $19.5 million in

gross sales proceeds. The transaction is anticipated to close during the fourth quarter

Balance Sheet / Liquidity

•In July, repaid the outstanding $200.0 million of 4.350% Private Placement Senior Notes Series B due October 2026, at par

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Dividend

•The Board of Directors 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 per share. The dividend was paid on October 14, 2026 to stockholders of record on September 30, 2026 (the ex-dividend date)

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Net Income Available to Common Stockholders / FFO Guidance

The Company is updating Nareit-defined FFO per share guidance for the full year 2026 to $3.55 to $3.59 per diluted share, from the previous range of $3.49

to $3.63. The table below reflects key assumptions for 2026 guidance.

Key Assumptions

July 2026 Assumptions

Current Assumptions

Average full year occupancy

76.50% to 78.00%

77.00% to 77.50%

Average full year occupancy excluding KOP 2

80.50% to 81.50%

80.75% to 81.25%

Same Property Cash Net Operating Income (“NOI”) growth (1)

0.25% to 1.25%

0.75% to 1.00%

NOI from Development Properties (2)

$(22.5) to $(24.0) million

+/- $(21.0) million

Non-Cash GAAP NOI adjustments (1) (3)

$13.0 to $15.0 million

$13.0 to $14.0 million

GAAP lease termination fee income

$3.0 to $4.5 million

$1.1 to $1.5 million

General and administrative and Leasing costs

$(87.5) to $(89.5) million

$(89.5) to $(90.5) million

Interest income

$2.0 to $3.0 million

+/- $3.0 million

Gross interest expense

$(208.0) to $(209.5) million

$(207.5) to $(208.5) million

Capitalized interest (4)

$48.5 to $49.5 million

$49.0 to $49.5 million

Total development spending (5)

+/- $1

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EX-99.1

2 exhibit991.htm

EX-99.1

exhibit991

Exhibit 99.1

Kilroy Realty

Supplemental Financial Report

Q1 2026

Kilroy Oyster Point, South San Francisco, CA

i

Where Innovation Works

KILROY REALTY CORPORATION REPORTS

FIRST QUARTER FINANCIAL RESULTS

LOS ANGELES, April 27, 2026 - Kilroy Realty Corporation (NYSE: KRC) (“Kilroy” or the “Company”) today reported financial results for the first quarter

ended March 31, 2026.

“I am pleased to report on a remarkably strong quarter of execution across all facets of our business. First-quarter leasing activity, which totaled 568,000

square feet, represented the Company’s strongest first-quarter performance since 2017, as we continued to capitalize on accelerating momentum across the

West Coast,” said Angela Aman, Chief Executive Officer. “In addition, we remained active on the capital allocation front, selling approximately $350 million of

non-core and non-strategic properties year-to-date, while prudently allocating capital to debt repayments, opportunistic share repurchases, and a

substantially pre-leased development project in one of the Company’s best-performing submarkets.”

Financial Results

•Revenues of $270.1 million for the quarter ended March 31, 2026, as compared to $270.8 million for the quarter ended March 31, 2025

•Net loss available to common stockholders of $(19.3) million, or $(0.16) per diluted share, for the quarter ended March 31, 2026, as compared to Net

income available to common stockholders of $39.0 million, or $0.33 per diluted share, for the quarter ended March 31, 2025

•Funds from operations (“FFO”) of $108.8 million, or $0.91 per diluted share, for the quarter ended March 31, 2026, as compared to $122.3 million, or

$1.02 per diluted share, for the quarter ended March 31, 2025

Leasing and Occupancy

•Stabilized Portfolio was 77.6% occupied and 82.3% leased at March 31, 2026, representing 470 basis points of leases signed but not yet

commenced

◦Excluding Kilroy Oyster Point Phase 2 (“KOP 2”), the Stabilized Portfolio was 81.5% occupied and 84.3% leased at March 31, 2026,

representing 280 basis points of leases signed but not yet commenced

•During the quarter, signed approximately 568,000 square feet of leases

◦Leasing activity was comprised of 406,000 square feet of new leasing on previously vacant space, 80,000 square feet of new leasing on

currently occupied space, and 82,000 square feet of renewal leasing

▪New leasing on vacant space included an approximately 145,000-square-foot development lease with Cooley LLP, a global law firm.

See “Joint Venture Formation” section below for additional details

▪Leasing activity during the quarter included approximately 70,000 square feet of short-term leasing

•GAAP and cash rents on leases signed during the quarter decreased (10.6)% and (16.8)%, respectively, from prior levels on Second Generation

leasing, excluding short-term leasing

◦Excluding leases signed on space vacant for more than 12 months, GAAP and cash rents on leases signed during the quarter increased

19.2% and 5.2%, respectively

Capital Recycling Activity

•In January, completed the sale of Kilroy Sabre Springs, an approximately 428,000-square-foot, three-building campus in the I-15 Corridor submarket

of San Diego, for gross sales proceeds of $124.5 million

•In March, completed the sale of Del Mar Tech Center, an approximately 39,000-square-foot office property in the Del Mar submarket of San Diego,

for gross sales proceeds of $21.0 million

•During the first quarter, entered into an agreement to sell the 200-unit Columbia Square Living residential tower and the 193-unit Jardine residential

tower in the Hollywood submarket of Los Angeles and classified the properties as Held for Sale. The sale closed in April for gross sales proceeds of

$202.0 million

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Common Stock Repurchases

•During the quarter, repurchased approximately 2.4 million shares of common stock at a weighted average price of $30.80 per common share for an

aggregate purchase price of $72.7 million

Joint Venture Formation

•In February, acquired an interest in 1900 Broadway, a fully-entitled land site in Downtown Redwood City capable of supporting a 251,000-square-

foot office building. Concurrent with closing, signed a 20-year lease with Cooley LLP for 145,000 square feet, bringing the project to 58% pre-leased.

Total project costs are expected to range from $330.0 million to $350.0 million. Construction is anticipated to commence in 2027, with delivery

scheduled for 2030, at which time the Company’s ownership interest is expected to be 97%

Dividend

•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 per

share. The dividend was paid on April 8, 2026 to stockholders of record on March 31, 2026 (the ex-dividend date)

Recent Developments

•In April, repaid the outstanding $50.0 million of 4.300% Priva