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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

ii

Where Innovation Works

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

krc-202602090001025996false00010259962026-02-092026-02-09

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 9, 2026

KILROY REALTY CORPORATION

(Exact name of registrant as specified in its charter)

Maryland

001-12675

95-4598246

(State or other jurisdiction of incorporation or organization)

(Commission File No.)

(I.R.S. Employer Identification No.)

12200 W. Olympic Boulevard, Suite 200, Los Angeles, California, 90064 (Address of principal executive offices) (Zip Code) (310) 481-8400

(Registrant's telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Registrant

Title of each class

Name of each exchange on which registered

Ticker Symbol

Kilroy Realty Corporation

Common Stock, $.01 par value

New York Stock Exchange

KRC

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2.):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02Results of Operations and Financial Condition. On February 9, 2026, Kilroy Realty Corporation issued a press release announcing its earnings for the quarter and full year ended December 31, 2025 and distributed certain supplemental financial information. On February 9, 2026, Kilroy Realty Corporation also posted the supplemental information on its website located at www.kilroyrealty.com.  The text of the supplemental information and the related press release are furnished herewith as Exhibits 99.1 and 99.2, respectively, and are incorporated by reference herein. Exhibits 99.1 and 99.2 are being furnished pursuant to Item 2.02 and shall not be deemed “filed” for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section.  The information in this Current Report on Form 8-K shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act regardless of any general incorporation language in such filing. Item 7.01Regulation FD Disclosure. As discussed in Item 2.02 above, Kilroy Realty Corporation issued a press release announcing its earnings for the quarter and full year ended December 31, 2025 and distributed certain supplemental information.  On February 9, 2026, Kilroy Realty Corporation also posted the supplemental information on its website located at www.kilroyrealty.com. The information being furnished pursuant to Item 7.01 shall not be deemed “filed” for any purpose, including for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section.  The information in this Current Report on Form 8-K shall not be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act regardless of any general incorporation language in such filing. Item 9.01Financial Statements and Exhibits.

(a)

Financial statements of businesses acquired: None.

(b)

Pro forma financial information: None.

(c)

Shell company transactions: None.

(d)

Exhibits:

The following exhibits are furnished with this Current Report on Form 8-K:

Exhibit No.

Description

99.1*

Supplemental Operating and Financial Data for the quarter ended December 31, 2025

99.2*

Press Release dated February 9, 2026 regarding fourth quarter 2025 earnings

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

*Furnished herewith.

SIGNATURES

Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Kilroy Realty Corporation

Date: February 9, 2026

By:

/s/ Chandni Jalan

Chandni Jalan Senior Vice President,