Highwoods Properties : At A Glance

FORWARD-LOOKING STATEMENTS

HIW | 3Q22

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 but not limited to potential losses related to customer difficulties, anticipated building usage and expected economic activity due to COVID-19; the continuing ability to borrow under the Company's revolving credit facility; the anticipated total investment, projected leasing activity, estimated replacement cost and expected net operating income of acquired properties and properties to be developed; and expected future leverage of the Company. You can identify forward-looking statements by our use of forward-looking terminology such as "may," "will," "expect," "anticipate," "estimate," "continue" or other similar words. Although we believe that our plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, we cannot assure you that our plans, intentions or expectations will be achieved.

When considering such forward-looking statements, you should keep in mind important factors that could cause our actual results to differ materially from those contained in any forward-looking statement, including the following: buyers may not be available and pricing may not be adequate with respect to planned dispositions of non-core assets; comparable sales data on which we based our expectations with respect to the sales price of non-core assets may not reflect current market trends; the extent to which the ongoing COVID-19 pandemic impacts our financial condition, results of operations and cash flows depends on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic and its impact on the U.S. economy and potential changes in customer behavior that could adversely affect the use of and demand for office space; the financial condition of our customers could deteriorate or further worsen, which could be further exacerbated by the COVID-19 pandemic; our assumptions regarding potential losses related to customer financial difficulties due to the COVID-19 pandemic could prove incorrect; counterparties under our debt instruments, particularly our revolving credit facility, may attempt to avoid their obligations thereunder, which, if successful, would reduce our available liquidity; we may not be able to lease or re-lease second generation space, defined as previously occupied space that becomes available for lease, quickly or on as favorable terms as old leases; we may not be able to lease newly constructed buildings as quickly or on as favorable terms as originally anticipated; we may not be able to complete development, acquisition, reinvestment, disposition or joint venture projects as quickly or on as favorable terms as anticipated; development activity in our existing markets could result in an excessive supply relative to customer demand; our markets may suffer declines in economic and/or office employment growth; unanticipated increases in interest rates could increase our debt service costs; unanticipated increases in operating expenses could negatively impact our operating results; natural disasters and climate change could have an adverse impact on our cash flow and operating results; we may not be able to meet our liquidity requirements or obtain capital on favorable terms to fund our working capital needs and growth initiatives or repay or refinance outstanding debt upon maturity; and the Company could lose key executive officers.

This list of risks and uncertainties, however, is not intended to be exhaustive. You should also review the other cautionary statements we make in "Risk Factors" set forth in our 2021 Annual Report on Form 10-K. Given these uncertainties, you should not place undue reliance on forward-looking statements. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements to reflect any future events or circumstances or to reflect the occurrence of anticipated events.

Our 2022 per share FFO outlook, as well as outlook for other metrics such as growth in same property cash NOI and year-end occupancy, reflects management's view as of October 25, 2022 of current and future market conditions, including assumptions such as asset usage due to the pandemic, rental rates, occupancy levels, operating and general and administrative expenses and weighted average diluted shares outstanding.

TABLE OF CONTENTS

HIW | 3Q22

4 ATTRACTIVE MARKETS

1. RESILIENT LEASING & OPERATIONS

1. INVESTMENT STRATEGY

1. CONSISTENT ANNUAL GROWTH

1. 2022 FFO OUTLOOK
2. FLEXIBLE BALANCE SHEET

1. DEVELOPMENT PIPELINE
2. FUTURE DEVELOPMENT
3. STAKEHOLDER ENGAGEMENT

ATTRACTIVE MARKETS

HIW | 3Q22

27.4M		90.7%		4.0%		2002
SQUARE FEET		OCCUPANCY		RENT CAGR		AVG YEAR BUILT
(As of 9/30/22)		(As of 9/30/22)		(2013-3Q22)		(Value Weighted Average)

ULI's 2023 TOP REAL ESTATE MARKETS	PIT
1	NASHVILLE
			5%
2 DALLAS/FORTH WORTH
3	ATLANTA
4	AUSTIN				RIC
5	TAMPA/ST. PETERSBURG
			5%
6	RALEIGH-DURHAM
7	MIAMI	NAS		CLT	RAL
8	BOSTON
9	PHOENIX	22%		11%	23%
10	CHARLOTTE		ATL
DAL			15%
4%	85%
	NOI* IN TOP ULI
	MARKETS		TAM	ORL
			5%
			10%

*NOI assumes stabilization of current development pipeline.

1.4M SF

DEVELOPMENT PIPELINE

(As of 9/30/22)

WE BELIEVE THAT, IN CREATING

ENVIRONMENTS AND

EXPERIENCES WHERE THE BEST AND BRIGHTEST CAN ACHIEVE TOGETHER WHAT THEY CANNOT APART, HIGHWOODS CAN DELIVER GREATER VALUE TO OUR CUSTOMERS, THEIR TEAMMATES AND, IN TURN, OUR SHAREHOLDERS.

4

ATTRACTIVEMARKETS					DEMOGRAPHIC & MARKET TRENDS
	1.8%					OFFICE EMPLOYMENT		4.0%
	1.6%						3.5%
POPULATION	1.4%						3.0%
1.2%
					2.5%
1.0%
					2.0%
0.8%
					1.5%
0.6%
0.4%						1.0%
0.2%						0.5%
		0.0%	HIW Proforma	Sunbelt	HIW	Gateway	US		0.0%	HIW Proforma	HIW	Sunbelt	US	Gateway
		3.5%		16.0%
		3.0%					NET ABSORPTION		14.0%
		2.5%					(As a % of Inventory)	12.0%
	RENT	2.0%					10.0%
					8.0%
	1.5%
3Q22					6.0%
1.0%					4.0%
|		0.5%							2.0%
HIW
	0.0%	HIW Proforma	HIW	Gateway	Sunbelt	US		0.0%	HIW Proforma	HIW	Sunbelt	US	Gateway

Source: CoStar. Annual growth 2010 - 2021.

HIW - weighted average by market. HIW Proforma - weighted average by market assuming PIT Sunbelt includes: ATL, AUS, CLT, DAL, DEN, HOU, NAS, ORL, PHO, RAL, TAM Gateway includes:

exit and stabilization of DAL developments.	5
BOS, LA, NYC, SF, SEA, DC