Table of Contents Page Page Company, Common Stock, and Earnings Call Information 1 Lease Expirations 19 Definitions 2 - 3 Leasing Activity 20 Financial Information Debt Information Balance Sheets 4 Debt Maturities 21 Condensed Statements of Operations 5 Unsecured Public Debt Covenants 22 Non-GAAP Reconciliations - FFO, Core FFO and AFFO 6-7 Liquidity Analysis 23 Real Estate Assets/Detail of Other Assets and Liabilities 8 Joint Venture Information Selected Financial Information 9 Joint Ventures 24 Leverage Metrics 10 Joint Venture Debt Maturities 25 Property Information Real Estate Investment Information Occupancy 11 Development Projects Under Construction 26 Property Net Operating Income 12-14 Development Project Deliveries 27 Largest Customers 15 Dispositions and Acquisitions 28 Rent Collections and Bad Debt 16 Components of Net Asset Value 29 Rent Deferrals 17 Other Same Property Net Operating Income - Cash 18 Range of Estimates 30

When used in this supplemental information package and the conference call to be held in connection herewith, the word “believes,” “expects,” “estimates” and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially. In particular, among the factors that could cause actual results to differ materially are the current pandemic caused by the COVID19 outbreak, continued qualification as a real estate investment trust, general business and economic conditions, competition, increases in real estate construction costs, interest rates, accessibility of debt and equity capital markets and other risks inherent in the real estate business including tenant defaults, potential liability relating to environmental matters and liquidity of real estate investments. Readers are advised to refer to Duke Realty's Form 10-K Report as filed with the Securities and Exchange Commission on February 25, 2020 for additional information concerning these risks. Additional factors are discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." Duke Realty Corporation

Duke Realty Corporation (“Duke Realty”), the largest pure-play, domestic only, logistics REIT in the United States, specializes in the ownership, management and development of high quality, modern logistics real estate. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500 Index. The Company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services.

Product Review

Logistics Properties: Duke Realty owns interests in 526 logistics properties encompassing 158.5 million square feet in 20 major logistics markets. These properties are primarily warehouse facilities with clear ceiling heights of 28 feet or more.

Non-core Properties: Duke Realty owns interests in 3 non-core buildings totaling 211 thousand square feet that are intended to be sold in the future.

Development Land: Duke Realty owns or has joint venture interests in approximately 775 acres of development land and controls an additional 400 acres through purchase options. The land, primarily in Tier 1 logistics distribution markets in which the Company has targeted for growth, is primarily unencumbered by debt. The development acres owned and controlled through purchase options can support over 18 million square feet of future logistics development. All of these amounts include joint ventures at ownership share.

Common Stock Data (NYSE:DRE): 3rd Quarter 2019 4th Quarter 2019 1st Quarter 2020 2nd Quarter 2020 3rd Quarter 2020 High price $34.24 $36.04 $38.88 $37.50 $40.84 Low price $31.17 $33.18 $25.19 $28.71 $35.03 Closing price $33.97 $34.67 $32.38 $35.39 $36.90 Dividends paid per share $0.215 $0.235 $0.235 $0.235 $0.235 Closing dividend yield 2.5% 2.7% 2.9% 2.7% 2.5%

Earnings Conference Call

Duke Realty Corporation will hold its quarterly conference call to discuss third quarter results on Thursday, October 29, 2020, at 3:00 p.m. Eastern Time. The public may access the conference through a live audio webcast available on the investor relations section of Duke Realty's website at www.dukerealty.com. Institutional investors can also access the conference via Thomson Reuters' password- protected event management site, StreetEvents (www.streetevents.com). Shortly after the conclusion of the conference call, investors can access a replay of the webcast on the Company's website.

1 Definitions

Non-GAAP Supplemental Performance Measures

Funds from Operations (“FFO”): FFO is a non-GAAP performance measure computed in accordance with standards established by the National Association of Real Estate Investment Trusts (“NAREIT”). It is calculated as net income attributable to common shareholders computed in accordance with generally accepted accounting principles (“GAAP") , excluding depreciation and amortization related to real estate, gains and losses on sales of real estate assets (including real estate assets incidental to our business) and related taxes, gains and losses from change in control, impairment charges related to real estate assets (including real estate assets incidental to our business) and similar adjustments for unconsolidated joint ventures and partially owned consolidated entities. We believe FFO to be most directly comparable to net income attributable to common shareholders as defined by GAAP. FFO does not represent a measure of liquidity, nor is it indicative of funds available for our cash needs, including our ability to make cash distributions to shareholders.

Core Funds from Operations (“Core FFO”): Core FFO is computed as FFO adjusted for certain items that are generally non-cash in nature and that can create significant earnings volatility and do not directly relate to our core business operations. The adjustments include gains or losses on debt transactions, gains or losses from involuntary conversion from weather events or natural disasters, promote income, severance and other charges related to major overhead restructuring activities and the expense impact of costs attributable to successful leasing activities. Although our calculation of Core FFO differs from NAREIT’s definition of FFO and may not be comparable to that of other REITs and real estate companies, we believe it provides a meaningful supplemental measure of our operating performance.

Adjusted Funds from Operations (“AFFO”): AFFO is defined by the Company as the Core FFO (as defined above), less recurring building improvements and total second generation capital expenditures (the leasing of vacant space that had previously been under lease by the Company is referred to as second generation lease activity) related to leases commencing during the reporting period, and adjusted for certain non-cash items including straight line rental income and expense, non-cash components of interest expense including interest rate hedge amortization, stock compensation expense and after similar adjustments for unconsolidated partnerships and joint ventures.

EBITDA for Real Estate ("EBITDAre"): EBITDAre is a non-GAAP supplemental performance measure, which is defined by NAREIT as net income (computed in accordance with GAAP), before interest, taxes, depreciation and amortization ("EBITDA") adjusted to exclude gains and losses on sales of real estate assets (including real estate assets incidental to our business), gains and losses from change of control, impairment charges related to real estate assets (including real estate assets incidental to our business) and to include share of EBITDAre of unconsolidated joint ventures. We believe EBITDAre to be most directly comparable to net income computed in accordance with GAAP and consider it to be a useful supplemental performance measure for investors to evaluate our operating performance and ability to meet interest payment obligations.

Core EBITDA: Core EBITDA is defined by the Company as the EBITDAre, adjusted for the same reasons as Core FFO, to exclude gains or losses on debt transactions, gains or losses from involuntary conversion from weather events or natural disasters, the expense impact of costs attributable to successful leasing activities, promote income and severance charges related to major overhead restructuring activities.

Property Level Net Operating Income - Cash Basis ("PNOI"): PNOI is a non-GAAP performance measure, which is comprised of rental revenues from continuing operations (computed in accordance with GAAP) less rental expenses and real estate taxes from continuing operations, along with adjustments to exclude the straight line rental income and expense, amortization of above and below market rents, amortization of lease concessions and lease termination fees as well as an adjustment to add back intercompany rent. PNOI, as we calculate it, may not be directly comparable to similarly titled, but differently calculated, measures for other REITs. We believe that PNOI to be most directly comparable to income from continuing operations defined by GAAP and that PNOI is another useful supplemental performance measure, as it is an input in many REIT valuation models and it provides a means by which to evaluate the performance of the properties within our Rental Operations segments.

Same Property Net Operating Income ("SPNOI - Cash"): We evaluate the performance of our properties, including our share of properties we jointly control, on a "same property" basis, using PNOI with certain minor adjustments. The same property pool of properties is defined once a year at the beginning of the current calendar year, and includes buildings that were in the stabilized portfolio throughout both the current and prior calendar years in both periods. The same property pool is adjusted for dispositions subsequent to its initial establishment. SPNOI also excludes termination fees. SPNOI is a non-GAAP supplemental performance measure that we believe is useful because it improves comparability between periods by eliminating the effects of changes in the composition of our portfolio.

2

Other Terms

Average Net Effective Rent Growth: Represents the percentage change in net effective rent between the original leases and the current leases. Net effective rent represents average annual base rental payments, on a straight-line basis for the term of each lease excluding operating expense reimbursements. The calculation excludes leases with an initial term of less than 12 months and is weighted by the square footage of leases executed.

Cash Rent Growth: Represents the change in starting rental rates per the lease agreement on new and renewed leases signed during the period as compared with the previous ending rental rates in that same space. The calculation excludes leases with an initial term of less than 12 months and excludes any free rent periods. The calculation is weighted by the square footage of leases executed.

Funds Available for Reinvestment: Represents AFFO less regular dividends and distributions.

GAAP Yield (Developments): Stabilized GAAP yield measures the average annualized net operating income expected to be generated over the life of the lease term(s) divided by the average annual investment in the development project over the same period. In the instances where a project is not yet fully leased, the GAAP yield is equal to the five year average, using lease-up projections, and computed for years 2-6, allowing the development project a twelve month stabilization period.

In-Place Yield (Acquisitions): In-place yields of acquisitions are calculated as annualized net operating income, from space leased to tenants at the date of purchase on a lease-up basis, including full rent from all executed leases, even if currently in a free rent period, divided by the acquisition cost. Annualized net operating income is comprised of base rental payments, excluding reimbursement of operating expenses, less current annualized operating expenses not recovered through tenant reimbursements. To the extent an acquired property is under short-term leaseback to the seller, the income from such leaseback, net of operating expenses, is also included in the in-place yield.

In-Place Cap Rate (Dispositions): In-place cap rates of dispositions are calculated as annualized net operating income from space leased to tenants at the date of sale on a lease-up basis, including full rent from all executed leases, even if currently in a free rent period, divided by the sales proceeds. Annualized net operating income is comprised of base rental payments, excluding reimbursement of operating expenses, less current annualized operating expenses not recovered through tenant reimbursements.

Percentage Leased: Percentage leased represents the percentage of total square feet under lease, without regard to whether the leases have commenced.

Percentage Occupied: Percentage occupied represents the percentage of total square feet where the leases have commenced.

Stabilized Acquisition Cost: As presented for building acquisitions, includes the cash purchase price of the building, transaction costs associated with the acquisition, near term capital expenditures needed to stabilize the property and the effects of marking assumed debt and leases to market.

Stabilized Yield (Acquisitions): Stabilized yield measures an estimated twelve months of potential rental revenue (including cash rental payments, the amortization of above or below market leases and expense reimbursements), less estimated operating expenses, expected to be generated upon stabilization divided by the Stabilized Acquisition Cost of the project(s).

Stabilized Cash Yield (Developments): Stabilized cash yield measures the net operating income expected to be generated upon stabilization divided by the total cost of the development project. The development cost includes estimated carry costs during the lease-up period.

Stabilized Properties: Represents buildings that have reached 90% leased, or have been in-service for at least one year since development completion or acquisition date. Stabilized properties are subdivided into two additional categories for PNOI and NAV reporting (pages 13, 14 and 27) using the following criteria:

Stabilized Properties - Economic: Stabilized properties that have been 90% occupied, with all initial periods of free rent completed, for at least one full quarterly reporting period.

Stabilized Properties - Pre-Economic: Stabilized properties that have not yet been 90% occupied or with initial periods of free rent not completed for at least one full quarterly reporting period.

Unstabilized Properties: Represents buildings that have not yet reached 90% leased and have been in-service for less than one year since development completion or acquisition date.

Value Creation: Estimated value creation is computed by applying a market cap rate at the time a development project is started to the initial net operating income expected to be generated upon stabilization to calculate an implied value. The value creation represents the amount by which the implied value exceeds the estimated stabilized costs of the project.

3

Balance Sheets (unaudited and in thousands) September 30, June 30, December 31, 2020 2020 2019 Assets: Real estate assets $8,569,340 $8,293,907 $7,993,377 Accumulated depreciation (1,637,190) (1,590,546) (1,480,461) Construction in progress 604,819 584,138 550,926 Land held for development 259,109 340,312 244,629 Non-strategic land 8,145 9,914 9,908 Net real estate investments 7,804,223 7,637,725 7,318,379

Real estate investments and other assets held-for-sale — — 18,463

Cash and cash equivalents 6,748 29,870 110,891 Accounts receivable 15,072 16,869 20,349 Straight-line rent receivable 145,130 138,251 129,344 Receivables on construction contracts, including retentions 44,824 53,769 25,607 Investments in and advances to unconsolidated joint ventures 132,127 133,795 133,074 Deferred leasing and other costs, net 325,846 314,715 320,444 Restricted cash held in escrow for like-kind exchange — — 1,673 Notes receivable from property sales — — 110,000 Other escrow deposits and other assets 269,055 242,015 232,338 Total assets $8,743,025 $8,567,009 $8,420,562

Liabilities and Equity: Secured debt, net of deferred financing costs $74,339 $50,274 $34,023 Unsecured debt, net of deferred financing costs 3,025,089 3,024,912 2,880,742 Unsecured line of credit 47,000 — — 3,146,428 3,075,186 2,914,765

Liabilities related to real estate investments held-for-sale — — 887 Construction payables and amounts due subcontractors, including retentions 83,047 111,844 68,840 Accrued real estate taxes 101,846 79,204 69,042 Accrued interest 26,499 15,450 14,181 Other liabilities 249,266 181,978 223,680 Tenant security deposits and prepaid rents 47,292 45,931 48,907 Total liabilities 3,654,378 3,509,593 3,340,302

Common shares 3,715 3,704 3,680 Additional paid-in capital 5,653,143 5,607,897 5,525,463 Accumulated other comprehensive loss (32,457) (33,346) (35,036) Distributions in excess of net income (606,182) (590,435) (475,992) Total shareholders' equity 5,018,219 4,987,820 5,018,115 Noncontrolling interests 70,428 69,596 62,145 Total liabilities and equity $8,743,025 $8,567,009 $8,420,562

4 Statements of Operations (unaudited and in thousands) Three Months Ended Nine Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Revenues: Rental and related revenue $235,391 $215,374 $680,520 $638,446 General contractor and service fee revenue 26,637 25,955 46,388 104,838 262,028 241,329 726,908 743,284 Expenses: Rental expenses 20,231 19,158 56,631 57,423 Real estate taxes 37,027 31,739 110,517 96,556 General contractor and other services expenses 24,604 23,640 41,578 99,415 Depreciation and amortization 88,596 83,924 260,659 242,920 170,458 158,461 469,385 496,314 Other Operating Activities: Equity in earnings of unconsolidated joint ventures 4,023 3,736 8,958 12,594 Gain on sale of properties 10,968 173,646 19,905 204,075 Gain on land sales 2,346 3,869 8,551 6,569 Other operating expenses (1,772) (874) (4,430) (4,515) Impairment charges — — (5,626) — Non-incremental costs related to successful leases (4,058) (1,123) (10,617) (6,726) General and administrative expenses (11,439) (13,720) (46,808) (49,123) 68 165,534 (30,067) 162,874 Operating income 91,638 248,402 227,456 409,844 Other Income (Expenses): Interest and other income, net 32 2,085 1,643 7,377 Interest expense (23,059) (22,604) (69,394) (68,246) Loss on debt extinguishment (120) — (32,898) (13) Gain on involuntary conversion 3,029 — 4,312 2,259 Income from continuing operations before income taxes 71,520 227,883 131,119 351,221 Income tax benefit (expense) 956 536 1,166 (6,465) Income from continuing operations 72,476 228,419 132,285 344,756 Discontinued operations: Gain on sale of properties 40 112 111 366 Income from discontinued operations 40 112 111 366 Net income 72,516 228,531 132,396 345,122 Net income attributable to noncontrolling interests (693) (1,965) (1,297) (2,952) Net income attributable to common shareholders $71,823 $226,566 $131,099 $342,170 Basic net income per common share: Continuing operations attributable to common shareholders $0.19 $0.62 $0.35 $0.95 Diluted net income per common share: Continuing operations attributable to common shareholders $0.19 $0.62 $0.35 $0.94 Weighted average number of common shares outstanding 371,082 362,416 369,375 360,424 Weighted average number of common shares and potential dilutive securities 374,834 367,271 373,091 365,343

5 Non- GAAP Reconciliations - FFO, Core FFO and AFFO (unaudited and in thousands) Three Months Ended September 30, 2020 2019 Wtd. Avg. Per Wtd. Avg. Per Amount Shares Share Amount Shares Share Net income attributable to common shareholders $ 71,823 $ 226,566 Less dividends on participating securities (352) (350) Net Income Per Common Share-Basic 71,471 371,082 $ 0.19 226,216 362,416 $ 0.62 Add back: Noncontrolling interest in earnings of unitholders 638 3,330 1,968 3,142 Other potentially dilutive securities — 422 350 1,713 Net Income Attributable to Common Shareholders-Diluted $ 72,109 374,834 $ 0.19 $ 228,534 367,271 $ 0.62 Reconciliation to FFO Net Income Attributable to Common Shareholders $ 71,823 371,082 $ 226,566 362,416 Adjustments: Depreciation and amortization 88,596 83,924 Depreciation, amortization and other - unconsolidated joint ventures 2,259 2,858 Gains on sales of properties (11,008) (173,758) Gains on land sales (2,346) (3,869) Income tax benefit triggered by sales of real estate assets (956) (536) Gains on sales of real estate assets - unconsolidated joint ventures (1,095) (332) Noncontrolling interest share of adjustments (671) 788 NAREIT FFO Attributable to Common Shareholders - Basic 146,602 371,082 $ 0.40 135,641 362,416 $ 0.37 Noncontrolling interest in income of unitholders 638 3,330 1,968 3,142 Noncontrolling interest share of adjustments 671 (788) Other potentially dilutive securities 1,833 1,713 NAREIT FFO Attributable to Common Shareholders - Diluted $ 147,911 376,245 $ 0.39 $ 136,821 367,271 $ 0.37 Gain on involuntary conversion - including share of unconsolidated joint venture (3,029) (1,300) Loss on debt extinguishment 120 — Non-incremental costs related to successful leases 4,058 1,123 Core FFO Attributable to Common Shareholders - Diluted $ 149,060 376,245 $ 0.40 $ 136,644 367,271 $ 0.37 AFFO Core FFO - Diluted $ 149,060 376,245 $ 0.40 $ 136,644 367,271 $ 0.37 Adjustments: Straight-line rental income and expense (7,796) (5,282) Amortization of above/below market rents and concessions (1,836) (1,742) Stock based compensation expense 2,736 2,045 Noncash interest expense 2,463 1,513 Second generation concessions (58) (300) Second generation tenant improvements (3,685) (3,227) Second generation leasing costs (5,623) (5,253) Building improvements (413) (4,203) AFFO - Diluted $ 134,848 376,245 $ 120,195 367,271 Dividends/Distributions paid on common shares and non-controlling units (excluding special dividends) (88,083) $ 0.235 (78,449) $ 0.215 Funds Available for Reinvestment $ 46,765 $ 41,746

6 Non- GAAP Reconciliations - FFO, Core FFO and AFFO (unaudited and in thousands) Nine Months Ended September 30, 2020 2019 Wtd. Avg. Per Wtd. Avg. Per Amount Shares Share Amount Shares Share Net income attributable to common shareholders $ 131,099 $ 342,170 Less dividends on participating securities (1,064) (1,125) Net Income Per Common Share-Basic 130,035 369,375 $ 0.35 341,045 360,424 $ 0.95 Add back: Noncontrolling interest in earnings of unitholders 1,164 3,296 2,971 3,118 Other potentially dilutive securities — 420 1,125 1,801 Net Income Attributable to Common Shareholders-Diluted $ 131,199 373,091 $ 0.35 $ 345,141 365,343 $ 0.94 Reconciliation to FFO Net Income Attributable to Common Shareholders $ 131,099 369,375 $ 342,170 360,424 Adjustments: Depreciation and amortization 260,659 242,920 Depreciation, amortization and other - unconsolidated joint ventures 6,759 7,628 Gains on sales of properties (20,016) (204,441) Gains on land sales (8,551) (6,569) Income tax (benefit) expense triggered by sales of real estate assets (1,166) 6,465 Impairment charges 5,626 — Gains on sales of real estate assets - unconsolidated joint ventures (787) (4,859) Noncontrolling interest share of adjustments (2,144) (353) NAREIT FFO Attributable to Common Shareholders - Basic 371,479 369,375 $ 1.01 382,961 360,424 $ 1.06 Noncontrolling interest in income of unitholders 1,164 3,296 2,971 3,118 Noncontrolling interest share of adjustments 2,144 353 Other potentially dilutive securities 1,821 1,801 NAREIT FFO Attributable to Common Shareholders - Diluted $ 374,787 374,492 $ 1.00 $ 386,285 365,343 $ 1.06 Gain on involuntary conversion - including share of unconsolidated joint venture (4,312) (3,559) Loss on debt extinguishment 32,898 13 Non-incremental costs related to successful leases 10,617 6,726 Overhead restructuring charges 2,063 — Core FFO Attributable to Common Shareholders - Diluted $ 416,053 374,492 $ 1.11 $ 389,465 365,343 $ 1.07 AFFO Core FFO - Diluted $ 416,053 374,492 $ 1.11 $ 389,465 365,343 $ 1.07 Adjustments: Straight-line rental income and expense (15,934) (16,066) Amortization of above/below market rents and concessions (5,934) (4,546) Stock based compensation expense 20,335 17,258 Noncash interest expense 6,896 4,577 Second generation concessions (394) (334) Second generation tenant improvements (10,073) (8,306) Second generation leasing costs (14,126) (14,198) Building improvements (1,306) (6,747) AFFO - Diluted $ 395,517 374,492 $ 361,103 365,343 Dividends/Distributions paid on common shares and non-controlling units (excluding special dividends) (262,780) $ 0.705 (234,352) $ 0.645 Funds Available for Reinvestment $ 132,737 $ 126,751

7 Real Estate Assets - Balance Sheet Information (unaudited and in thousands) Composition of Real Estate Assets September 30, 2020 December 31, 2019

Buildings and tenant improvements $ 5,691,561 $ 5,295,336 Land and improvements 2,753,809 2,532,541 Other real estate investments (1) 123,970 165,500 Real estate assets per consolidated balance sheets $ 8,569,340 $ 7,993,377

(1) Consists of underutilized in-fill sites, which may have had buildings/structures on site when we acquired them, that are either (i) under lease to a third party and, after the lease ends, are expected to be redeveloped or will require significant capital expenditures before re-leasing; or (ii) industrial/logistics properties that we intend to re-lease after significant retrofitting and/or environmental remediation is completed. Consists of (i) 31 acres in Southern California purchased during 2019, (ii) 15 acres in New Jersey purchased in December 2019, (iii) 19 acres in Chicago purchased in January 2020, and (iv) 10 acres in South Florida purchased in March 2020.

Detail of Other Assets and Liabilities (unaudited and in thousands) Other Assets September 30, 2020 December 31, 2019

Right of use assets - operating leases $ 40,233 $ 37,568 Right of use assets - finance lease 34,409 — Goodwill 89,314 89,314 Deferred financing costs on unsecured line of credit 2,773 4,424 Prepaid expenses and other assets (1) 102,326 101,032 Other assets per consolidated balance sheets $ 269,055 $ 232,338

(1) Includes, but not limited to, prepaid expenses, furniture and fixtures in corporate and market offices and other assets used for the company's operations. Included as an input on page 29, "Components of Net Asset Value".

Other Liabilities September 30, 2020 December 31, 2019

Non-cash liabilities and deferred revenue (1) $ 172,602 $ 120,160 Operating accruals (2) 32,576 52,689 Costs to complete and other cash obligations (3) 44,088 50,831 Other liabilities per consolidated balance sheets $ 249,266 $ 223,680

(1) Includes $43,534 and $41,291 of operating lease liabilities at September 30, 2020 and December 31, 2019, respectively. Also includes $34,279 of finance lease liabilities from a new ground lease at September 30, 2020. (2) Includes, but not limited to, accrued property level expenses such as utilities, payroll and other employee workforce related accruals. Included as an input on page 29, "Components of Net Asset Value".

(3) Included as an input on page 29, "Components of Net Asset Value".

8 Selected Financial Information (unaudited and in thousands)

Three Months Ended Nine Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Revenues from continuing operations $262,028 $241,329 $726,908 $743,284

Lease termination fees - wholly owned (included above in revenues from continuing operations and net of applicable straight line receivable write-off) $171 $1,089 $2,279 $1,108

Non-GAAP Reconciliation - EBITDAre and Core EBITDA Net income $72,516 $228,531 $132,396 $345,122 Add depreciation and amortization - continuing operations 88,596 83,924 260,659 242,920 Add non-real estate asset related depreciation 700 584 2,025 1,586 Add interest expense - continuing operations 23,059 22,604 69,394 68,246 Add income tax (benefit) expense - continuing operations (956) (536) (1,166) 6,465 EBITDA $183,915 $335,107 $463,308 $664,339 Gains on sale of properties (11,008) (173,758) (20,016) (204,441) Gains on land sales (2,346) (3,869) (8,551) (6,569) Impairment charges — — 5,626 — Equity in earnings of unconsolidated joint ventures (4,023) (3,736) (8,958) (12,594) Company's share of unconsolidated joint venture EBITDAre 5,735 5,906 16,087 16,699 EBITDAre, as Defined by NAREIT $172,273 $159,650 $447,496 $457,434 Gain on involuntary conversion (3,029) — (4,312) (2,259) Non-incremental costs related to successful leases 4,058 1,123 10,617 6,726 Loss on debt extinguishment 120 — 32,898 13 Overhead restructuring charges — — 2,063 — Noncontrolling interest share of consolidated joint venture EBITDA 103 (16) 54 (43) Core EBITDA $173,525 $160,757 $488,816 $461,871 Components of Fixed Charges Interest expense - continuing operations $23,059 $22,604 $69,394 $68,246 Company's share of unconsolidated joint venture interest expense 448 758 1,390 2,491 Less noncontrolling interest share of consolidated joint venture interest expense (82) (3) (216) (12) Capitalized interest 5,664 6,177 19,360 19,072 Company's share of unconsolidated joint venture capitalized interest — 97 80 267 Total Fixed Charges $29,089 $29,633 $90,008 $90,064 Common dividends paid $87,300 $77,773 $260,431 $232,323 Non-controlling unit distributions paid $783 $676 $2,349 $2,029 Common shares outstanding 371,510 366,295 371,510 366,295 Non-controlling Partnership units outstanding 3,330 3,141 3,330 3,141 Total common shares and units outstanding at end of period 374,840 369,436 374,840 369,436 Common Equity Market Capitalization (1) $13,831,596 $12,549,741 $13,831,596 $12,549,741 Total Market Capitalization (2) $17,012,028 $15,334,812 $17,012,028 $15,334,812 Non-controlling share in assets of consolidated real estate joint ventures (excluding operating partnership) $16,841 $4,818 $16,841 $4,818 Non-controlling share in debt of consolidated real estate joint ventures (excluding operating partnership) $9,459 $550 $9,459 $550

Note: Amounts shown represent continuing and discontinued operations except where noted.

(1) Number of common shares and partnership units outstanding multiplied by the Company's closing share price at the end of each reporting period.

(2) Common Equity Market Capitalization plus face/redemption value of outstanding debt.

9 Leverage Metrics (dollars in thousands)

September 30, 2020 June 30, 2020 December 31, 2019 Effective Leverage: (Debt + Company's Share of Unconsolidated Joint Ventures Debt - Noncontrolling Interest Share of 31 % 31 % 30 % Consolidated Debt) / (Total Assets + Accumulated Depreciation + Company's Share of Unconsolidated Joint Venture Gross Assets - Noncontrolling Interest Share of Consolidated Gross Assets - Investments in and Advances to Unconsolidated Joint Ventures)

Debt to Total Market Capitalization: (Debt / Total Market Capitalization as defined on page 9) 19 % 19 % 19 %

Net Debt (Debt - Cash + Share of Joint Ventures Debt - Noncontrolling Interest Share of Consolidated Debt) to Core EBITDA, Including Share of Unconsolidated Joint Ventures: Trailing twelve months 5.0 4.9 4.6 Current quarter annualized 4.7 4.7 4.4 Proforma current quarter annualized (*) 4.6

Fixed Charge Coverage Ratio (Core EBITDA, Including Share of Unconsolidated Joint Ventures/Total Fixed Charges, as calculated on page 9): Trailing twelve months 5.5 5.3 5.2 Most recent quarter 6.0 5.6 5.5

Three months Notes to Proforma Calculations: ended September (*) Proforma Calculations - Core EBITDA and Net Debt 30, 2020 (1) Adjustment to current quarter acquisitions and developments placed in service in order to reflect a full Core EBITDA, including share of unconsolidated joint ventures $ 173,525 quarter of actual operations for such properties. Proforma EBITDA adjustment for current quarter acquisitions and developments placed in service 2,560 (1) Remove EBITDA related to properties sold during the quarter (117) (2) (2) Adjustment to current quarter properties sold to remove Proforma Core EBITDA, including share of unconsolidated joint ventures $ 175,968 the pre-sale operations of these properties from EBITDA for the quarter. x4 Annualized proforma Core EBITDA, including share of unconsolidated joint ventures $ 703,872

Total debt, excluding deferred financing costs $ 3,180,432 Less cash (6,748) Less noncontrolling interest share of consolidated debt (9,459) Share of unconsolidated joint ventures debt 70,390 Proforma Net Debt $ 3,234,615 Proforma Net Debt to EBITDA 4.6

10 Property Occupancy as of September 30, 2020 (Square feet in Thousands)

Stabilized In-Service Unstabilized In-Service Total In-Service Under Development Total Portfolio Number Number Square Percent Percent Square Percent Percent of Square Percent Percent of Square Percent Number of Square Percent Feet Leased Occupied Feet Leased Occupied Buildings Feet Leased Occupied Buildings Feet Leased Buildings Feet Leased

Dallas 16,780 98.9 % 98.9 % — — — 44 16,780 98.9 % 98.9 % — — — 44 16,780 98.9 % Chicago 15,218 96.3 % 95.6 % — — — 43 15,218 96.3 % 95.6 % — — — 43 15,218 96.3 % Indianapolis 15,050 98.8 % 98.8 % — — — 34 15,050 98.8 % 98.8 % — — — 34 15,050 98.8 % Southern California 12,259 100.0 % 100.0 % — — — 29 12,259 100.0 % 100.0 % 3 2,573 41.9 % 32 14,831 89.9 % Atlanta 12,970 95.3 % 95.3 % — — — 43 12,970 95.3 % 95.3 % 1 664 100.0 % 44 13,634 95.6 % Cincinnati 9,172 91.3 % 88.6 % — — — 24 9,172 91.3 % 88.6 % — — — 24 9,172 91.3 % South Florida 8,526 97.9 % 97.8 % — — — 66 8,526 97.9 % 97.8 % 1 222 72.0 % 67 8,748 97.2 % New Jersey 6,440 100.0 % 100.0 % — — — 18 6,440 100.0 % 100.0 % 2 1,543 59.7 % 20 7,984 92.2 % Houston 6,579 97.4 % 97.4 % 433 0.0 % 0.0 % 24 7,012 91.4 % 91.4 % 1 806 100.0 % 25 7,818 92.3 % Savannah 7,330 100.0 % 100.0 % — — — 24 7,330 100.0 % 100.0 % — — — 24 7,330 100.0 % Pennsylvania 6,102 91.0 % 83.7 % — — — 9 6,102 91.0 % 83.7 % 1 415 100.0 % 10 6,517 91.6 % Columbus 5,320 100.0 % 100.0 % — — — 9 5,320 100.0 % 100.0 % 1 358 100.0 % 10 5,677 100.0 % St. Louis 5,182 99.7 % 99.7 % — — — 15 5,182 99.7 % 99.7 % — — — 15 5,182 99.7 % Minneapolis-St. Paul 5,143 97.8 % 95.9 % — — — 25 5,143 97.8 % 95.9 % — — — 25 5,143 97.8 % Central Florida 4,225 97.5 % 97.5 % 107 50.0 % 50.0 % 27 4,332 96.3 % 96.3 % — — — 27 4,332 96.3 % Nashville 3,645 98.1 % 98.1 % — — — 20 3,645 98.1 % 98.1 % — — — 20 3,645 98.1 % DC-Baltimore 3,283 98.7 % 98.7 % — — — 20 3,283 98.7 % 98.7 % — — — 20 3,283 98.7 % Raleigh 2,981 99.7 % 94.5 % 166 0.0 % 0.0 % 26 3,147 94.4 % 89.5 % — — — 26 3,147 94.4 % Northern California 2,693 91.9 % 91.9 % — — — 8 2,693 91.9 % 91.9 % 1 209 0.0 % 9 2,903 85.2 % Seattle 1,940 100.0 % 100.0 % — — — 6 1,940 100.0 % 100.0 % 1 190 0.0 % 7 2,130 91.1 % Total Portfolio 150,840 97.5 % 96.8 % 707 7.6 % 7.6 % 514 151,546 97.1 % 96.4 % 12 6,979 63.1 % 526 158,525 95.6 %

June 30, 2020 148,325 97.3 % 96.6 % 1,026 9.8 % 5.2 % 504 149,350 96.7 % 95.9 % 14 6,730 64.8 % 518 156,081 95.3 % March 31, 2020 144,572 97.2 % 96.3 % 1,651 41.1 % 37.4 % 497 146,223 96.5 % 95.6 % 21 9,658 61.1 % 518 155,881 94.3 % December 31, 2019 143,586 97.8 % 95.8 % 2,629 31.0 % 28.7 % 494 146,216 96.6 % 94.6 % 22 8,857 55.8 % 516 155,073 94.3 % September 30, 2019 144.281 97.9 % 95.9 % 3.471 27.0 % 21.9 % 494 147.752 96.2 % 94.2 % 19 7.156 45.6 % 513 154.908 93.9 %

Note: Percentage leased represents the percentage of total square feet where leases have been executed, without regard to whether the leases have commenced. Note: Percentage occupied represents the percentage of total square feet where the leases have commenced. Note: Joint Ventures are included at 100%. Note: Excludes remaining non-core properties referenced on page 1.

11 Non-GAAP Reconciliations - PNOI and SPNOI (unaudited and in thousands)

Three Months Ended Nine Months Ended September 30, 2020 September 30, 2020

Non-GAAP Reconciliation of PNOI Net Income Attributable to Common Shareholders (Page 5) $ 71,823 $ 131,099 Adjustments related to NAREIT FFO Attributable to Common Shareholders - Diluted 76,088 243,688 NAREIT FFO Attributable to Common Shareholders - Diluted (Page 6-7) $ 147,911 $ 374,787 Adjustments related to Core FFO Attributable to Common Shareholders - Diluted 1,149 41,266 Core FFO Attributable to Common Shareholders - Diluted (Page 6-7) $ 149,060 $ 416,053 Add back: Interest expense, continuing operations 23,059 69,394 Add back: non-real estate asset related depreciation 700 2,025 Less: FFO attributable to unconsolidated joint ventures (5,343) (15,336) Add: Company's share of unconsolidated joint venture EBITDAre (Page 9) 5,735 16,087 Adjustments related to noncontrolling interest share of consolidated joint ventures 314 593 Core EBITDA (Page 9) $ 173,525 $ 488,816 General contractor and service fee revenue, net of related expenses (2,033) (4,810) General and administrative expense, excluding severance/restructuring 11,439 44,745 Non-real estate asset related depreciation (700) (2,025) Other operating expenses 1,772 4,430 Company's share of unconsolidated joint venture EBITDAre (5,735) (16,087) Noncontrolling interest share of consolidated joint venture EBITDA (103) (54) Interest and other income (32) (1,643) Revenues not allocable to operating segments (320) (1,114) Rental expenses and real estate taxes not allocable to operating segments (8) 459 Other adjustments (1) (8,485) (23,109) PNOI, continuing operations, before joint ventures 169,320 489,608 Less noncontrolling interest share of consolidated joint venture PNOI (279) (713) Plus share of unconsolidated joint venture PNOI 5,666 16,021 PNOI, continuing operations, including share of joint ventures 174,707 504,916 PNOI of sold assets not in discontinued operations (2) (105) (671) Proforma PNOI adjustments (3) 3,701 6,381 Proforma PNOI (Page 13) $ 178,303 $ 510,626

Non-GAAP Reconciliation of SPNOI - Cash Income from continuing operations before income taxes (Page 5) $ 71,520 $ 131,119 Share of SPNOI from unconsolidated joint ventures 4,917 14,236 PNOI excluded from the "same property" population (19,444) (43,132) Earnings from Service Operations (2,033) (4,810) Rental Operations revenues and expenses excluded from PNOI (8,590) (23,780) Non-Segment Items 108,318 386,408 SPNOI - Cash (Page 18) $ 154,688 $ 460,041

(1) Represents adjustments for straight line rental income (net of collectability reserves) and expense, amortization of above and below market rents, amortization of lease concessions (net of reserve adjustment), intercompany rents and termination fees. (2) Represents all other sold properties that did not meet the criteria to be included in discontinued operations. (3) PNOI is adjusted to reflect a full quarter of operations for properties that were placed in service or acquired during the quarter.

12 Non-GAAP Reconciliation - PNOI (unaudited and in thousands)

Three Months Ended September 30, 2020 Wholly Owned and Joint Venture In-Service Logistics Portfolio: Rental revenues from continuing operations $ 233,572 (1) Rental and real estate tax expenses from continuing operations (56,805) (2) Less: Straight line rental income and expense (7,146) Other adjustments (1,393) (3) PNOI, continuing operations, before joint ventures 168,228 Less: noncontrolling interest share of consolidated joint venture PNOI (255) Share of unconsolidated joint venture PNOI 5,666 PNOI, adjusted for joint ventures 173,639 Less: PNOI from sold properties (not in discontinued operations) (105) Proforma property level NOI adjustments 3,701 (4) Proforma PNOI- Total In-Service Logistics Portfolio $ 177,235

PNOI- In-Service Non-Core assets 895 PNOI- Other real estate investments not valued by income capitalization (pages 8 and 29) 173

Total Proforma PNOI $ 178,303

Logistics PNOI in NAV Components (page 29): Proforma PNOI- Total In-Service (as shown above) $ 177,235 Adjustment to exclude negative PNOI related to "Stabilized Properties - Economic" 388 (5) Adjustment to exclude negative PNOI from "Stabilized Properties - Pre-Economic" 558 (6) Adjustment to exclude Unstabilized In-Service Properties (92) (7) Total Stabilized Operating Portfolio Generating Positive NOI (market detail page 14; NAV page 29) $ 178,089 Note: NOI information is for the most recently completed three month period and includes only wholly owned and joint venture in-service properties at the end of the reporting period. Joint venture property NOI is shown at economic ownership percentage. (1) Rental revenues from continuing operations as included in the segment reporting disclosures in the notes to our consolidated financial statements. Revenues not allocated to reportable segments, which are not included above, totaled $320 for the three months ended September 30, 2020. (2) Rental and real estate taxes as used in the computation of PNOI from the segment reporting disclosures in the notes to our consolidated financial statements. Rental expenses and real estate taxes not allocated to reportable segments, which are not included above totaled $(8) for the three months ended September 30, 2020. (3) Represents adjustments to add back intercompany rents and to remove the amortization of above and below market rents, amortization of lease concessions, lease termination fees and PNOI from other real estate assets not valued by income capitalization. (4) NOI is adjusted to reflect a full quarter of operations for properties that were placed in service or acquired during the quarter. (5) These properties are included in NAV Components on page 29 in the Real Estate Not Valued by Income Capitalization section at their total gross book basis of $44,196 as of the current quarter ended. (6) These properties are included in NAV Components on page 29 at an estimated stabilized PNOI amount in the Real Estate Properties Valued by Income Capitalization section. (7) These unstabilized in-service properties which have been in-service less than one year are included in NAV Components on page 29 at an estimated stabilized PNOI amount in the Real Estate Properties Valued by Income Capitalization section.

13 PNOI and Occupancy Metrics (dollars and SF in thousands and shown at economic ownership %)

Square Feet at 3-Month Avg. Ending Ending NOI at Economic Economic Percentage Percentage Percentage Market Ownership % % of NOI Ownership % Occupied Occupied Leased Southern California $ 18,333 10.3 % 12,259 100.0 % 100.0 % 100.0 % South Florida 16,557 9.3 % 8,324 99.0 % 98.8 % 99.0 % Chicago 15,927 8.9 % 14,485 96.3 % 95.3 % 96.1 % Dallas 13,469 7.6 % 13,481 99.7 % 99.3 % 99.3 % New Jersey 13,236 7.4 % 6,440 100.0 % 100.0 % 100.0 % Atlanta 12,180 6.8 % 12,381 99.4 % 99.9 % 99.9 % Indianapolis 11,414 6.4 % 12,550 98.8 % 99.2 % 99.3 % Houston 8,547 4.8 % 6,579 97.1 % 97.4 % 97.4 % Cincinnati 7,761 4.4 % 9,137 91.9 % 88.6 % 91.3 % Savannah 7,612 4.3 % 6,999 100.0 % 100.0 % 100.0 % Pennsylvania 6,704 3.8 % 5,270 96.9 % 96.9 % 96.9 % Minneapolis-St. Paul 6,619 3.7 % 5,143 96.1 % 95.9 % 97.8 % DC / Baltimore 5,723 3.2 % 3,283 99.1 % 98.7 % 98.7 % St. Louis 5,453 3.1 % 5,182 99.5 % 99.7 % 99.7 % Central Florida 5,237 2.9 % 4,225 97.9 % 97.4 % 97.4 % Nashville 5,186 2.9 % 3,645 99.0 % 98.1 % 98.2 % Columbus 4,903 2.8 % 5,320 100.0 % 100.0 % 100.0 % Northern California 4,817 2.7 % 2,474 100.0 % 100.0 % 100.0 % Raleigh 4,658 2.6 % 2,981 97.4 % 94.5 % 99.7 % Seattle 3,753 2.1 % 1,940 100.0 % 100.0 % 100.0 % Total $ 178,089 100.0 % 142,098 98.3 % 97.9 % 98.4 %

Note: This schedule provides supplemental information for the stabilized logistics properties generating positive NOI for the three months ended September 30, 2020 as shown on page 13.

Note: Percentage occupied represents the percentage of total square feet where the leases have commenced.

Note: Percentage leased represents the percentage of total square feet where the leases have been executed, without regard to whether the leases have commenced.

14 Largest Customers and Industry Classifications Properties in-service as of September 30, 2020

% of Annualized Customer Rentable SF Leased SF NLV (1) % of ANLV Industry % of ANLV

Amazon.com 12,032,741 8.2% $73,246,656 10.0% Transportation 21% UPS of America, Inc. 3,114,525 2.1% 18,506,426 2.5% E-commerce 19% Wayfair, Inc 3,387,308 2.3% 16,105,634 2.2% Manufactured Products 18% Home Depot (2) 1,576,495 1.1% 13,489,199 1.8% Wholesale Goods 9% NFI Industries 1,973,267 1.3% 8,824,384 1.2% Food products 6% Floor & Decor Outlets 1,771,911 1.2% 8,704,233 1.2% Consumer Services 5% Target Corporation 980,369 0.7% 7,505,996 1.0% Retail (3) 5% Deckers Outdoor Corporation 1,530,944 1.0% 7,473,193 1.0% Textiles 3% HD Supply Inc 1,443,898 1.0% 7,049,789 1.0% Lumber & Building Materials 3% Walmart 1,613,418 1.1% 6,175,092 0.8% Technology 2% Samsung Electronics Co. LTD 1,457,663 1.0% 6,117,930 0.8% Chemical Products 2% Sonepar USA 650,123 0.4% 5,536,153 0.8% Publishing 2% Clorox 1,190,337 0.8% 5,369,648 0.7% Health Services 2% Armada Warehouse Solutions LLC 908,406 0.6% 5,023,906 0.7% Other 3% XPO Logistics 800,973 0.5% 4,741,471 0.6% Kraft Foods Inc. 1,001,716 0.7% 4,680,066 0.6% Ferrara Candy Company 1,250,155 0.9% 4,660,345 0.6% Goodyear Tire and Rubber Co. 1,204,580 0.8% 4,652,835 0.6% The Boeing Company 536,050 0.4% 4,559,647 0.6% CNH Industrial 1,245,600 0.8% 4,517,253 0.6% Top 20 Customers 39,670,479 26.9% $216,939,856 29.3%

Note: Joint Venture annualized net lease value is included at the Company's economic ownership percentage. (1) Represents average annual net effective rents due from tenants in service as of September 30, (3) Top Retail tenants by ANLV include: 2020. Average annual net effective rent equals the average annual rental property revenue over the Target, Walmart, The Container Store, terms of the respective leases excluding landlord operating expense allowance and additional rent due Electrolux, Starbucks, Genuine Parts as operating expense reimbursements. Company, and Best Buy; in aggregate which represents 64% of total retail exposure. (2) Home Depot Annualized NLV does not include two projects under construction. When completed, Home Depot will become our second largest tenant with approximately $28.5 million of Annualized NLV.

15 Rent Collections and Bad Debt Dollars in thousands

Rent Collections as of October 27, 2020 % of Original % of Original Application of Total Revised Contractual Contractual Credit Contractual Rent Collected Rent Deferred Enhancements Rent Collected (1) (2)

First Quarter 99.9 % — % — % 99.9 % Second Quarter 96.7 % 3.2 % — % 99.9 % July 97.3 % 2.6 % — % 99.9 % August 99.5 % 0.4 % — % 99.9 % September 99.3 % 0.3 % 0.3 % 99.9 % Third Quarter 98.7 % 1.1 % 0.1 % 99.9 % October (through the 27th) 99.5 % — % 0.3 % 99.8 % (1) Cash receipts of original contractual rent receivables through October 27, 2020. (2) Application of tenant security deposits or drawing upon letters of credit to satisfy unpaid rent obligations.

Bad Debt Expense First Second Third Mid Point Mid-Point % of Quarter Quarter Quarter Estimate - Full Year Annualized 2020 2020 2020 (3) Q4 2020 2020 Gross Rent Guidance

Cash bad debt expense/defaults $ 547 $ 435 $ 11 $ 500 $ 1,493 17 bps Straight-line bad debt expense/(reversal) 4,931 28 (486) — 4,473 50 bps Total $ 5,478 $ 463 $ (475) $ 500 $ 5,966 67 bps

(3) Third quarter cash bad debt expense includes the following: – $268 of additional reserves for the quarter mainly related tenants in financial difficulty and/or tenants who are delinquent on contractual rents and for which we are in various stages of the eviction process. – Partially offsetting the bad debt expense recorded in the quarter from the above item are previously reserved bad debt recoveries of $257.

16 Rent Deferrals Dollars in thousands

Rent Deferrals Executed Through October 27, 2020 Deferred Rents - Originally Scheduled Payments Through July August September Total Third Total Total % of June 30, Quarter Fourth Granted Annualized 2020 2020 Quarter Gross Rent 2020 Short term deferrals (1) $ 4,997 $ 1,430 $ 224 $ 188 $ 1,842 $ — $ 6,839 76 bps Long term deferrals (2) 466 234 209 130 573 366 1,405 16 bps Total deferrals $ 5,463 $ 1,664 $ 433 $ 318 $ 2,415 $ 366 $ 8,244 92 bps

(1) Short term deferrals are those that require repayment of deferred amounts within twelve months of the date the deferral agreement was executed. The average deferral period of executed agreements was 2.7 months while the average repayment period was 4.7 months. The substantial majority of the deferral agreements required reimbursement of operating expenses during the deferral period and provided for only partial deferrals of base rent (generally 50%) during the deferral periods. The deferral agreements did not change revenue recognition during the third quarter of 2020 except when collectability reserves were required. Revenue recognized for the third quarter of 2020, net of collectability reserves, is as follows:

Short term deferrals of third quarter rent $ 1,842 Less collectability reserves (62) Revenue recognized on short term deferrals $ 1,780

(2) Long term deferrals have terms that do not require repayment of the full amount of deferred amounts within twelve months of the date the deferral agreement was executed. Long term deferrals are accounted for as lease modifications. Revenue for all long term deferrals granted to date is recognized on a cash basis due to underlying risk.

Rent Deferral Repayments Deferred Rents - Revised Payment Schedule Through Total Third October November December Total Beyond Total June 30, Quarter Fourth 2020 2020 2020 Quarter 2020 Short term deferrals billed/to be billed $ 43 $ 1,698 $ 965 $ 1,141 $ 1,141 $ 3,247 $ 1,851 $ 6,839 Long term deferrals billed/to be billed 4 47 2 2 46 50 1,304 1,405 Total Deferrals billed/to be billed 47 1,745 967 1,143 1,187 3,297 3,155 8,244 Less amounts collected (47) (1,745) (958) (293) (126) (1,377) (1,377) (65) (3,234) Remaining to be collected $ — $ — $ 9 $ 850 $ 1,061 $ 1,920 $ 3,090 $ 5,010

17 Same Property Net Operating Income - Cash (dollars and SF in thousands and shown at economic ownership %)

Property Performance Population Summary (1) Quarter Ended September 30 Nine Months Ended September 30 % % 2020 2019 Change 2020 2019 Change

Number of properties 454 Total operating revenues $ 203,243 $ 191,148 $ 603,065 $ 572,004

Square feet 127,478 Total operating expenses 53,472 48,360 157,260 149,610 Same Property SF as a % SPNOI - Consolidated of total in service SF 87.3 % Properties $ 149,771 $ 142,788 $ 445,805 $ 422,394 (at ownership share)

QTD SPNOI - Cash as a % 86.8 % Unconsolidated Joint of total Proforma PNOI Venture share of SPNOI $ 4,917 $ 4,564 $ 14,236 $ 13,550 YTD SPNOI - Cash as a % 90.5 % of total Proforma PNOI SPNOI - Total $ 154,688 $ 147,352 5.0% $ 460,041 $ 435,945 5.5% Average percentage occupied 98.8 % 98.2 % 0.6% 98.6 % 98.0 % 0.6%

Note: Statistical information for joint venture properties is presented at Duke's effective ownership percentage.

Note: Excludes remaining non-core properties referenced on page 1.

The same property population for the periods shown is derived from the 514 in-service properties that we own or jointly control, as of September 30, 2020, less (i) 11 in-service buildings that were acquired since January 1, 2019, (ii) 41 in-service buildings we developed (or re-developed) and placed in-service since January 1, 2019, (iii) 8 additional in-service buildings that were unstabilized as of January 1, 2019.

18 Lease Expirations In-Service Properties as of September 30, 2020 (dollars and square feet in thousands)

Wholly Owned Joint Venture Total In-Service Portfolio

Avg. Annual Rental Avg. Annual Rental Avg. Annual Rental Year of Expiration Square Feet Revenue (1) Square Feet Revenue (1) Square Feet Revenue (1) 2020 1,555 $7,958 112 $593 1,667 $8,551 2021 12,534 59,366 613 2,297 13,147 61,663 2022 17,445 74,919 313 1,296 17,758 76,215 2023 14,219 71,564 434 1,883 14,653 73,447 2024 14,398 73,101 691 3,382 15,089 76,483 2025 15,562 83,827 401 1,908 15,963 85,735 2026 10,790 51,989 104 521 10,894 52,510 2027 8,610 42,225 419 1,783 9,029 44,008 2028 8,164 50,876 374 1,551 8,538 52,427 2029 8,428 45,436 1,000 3,566 9,428 49,002 2030 and Thereafter 24,544 145,056 925 4,156 25,469 149,212 136,249 $706,317 5,386 $22,936 141,635 $729,253 Total Square Feet 140,437 5,523 145,960 Percent Leased 97.0 % 97.5 % 97.0 % Average Remaining Lease Term (by SF) 5.6 6.0 5.6 Average Remaining Lease Term (by ANLV) 6.0 5.9 6.0

Note: Joint Venture square feet and dollars shown at the Company's economic ownership percentage. Note: Excludes remaining non-core properties referenced on page 1. (1) Annualized rental revenue represents average annual base rental payments, on a straight-line basis for the term of each lease, from space leased to tenants at the end of the most recent reporting period. Annualized rental revenue excludes amounts paid by tenants as reimbursement for operating expenses and real estate taxes. % of Expiring Leases: Total In-Service Portfolio

% of Leased Square Feet % of Annualized Rental Revenue

21% 18%

13% 12% 10% 10% 10% 11% 11% 11% 9% 8% 8% 7% 7% 7% 7% 6% 6% 6%

1% 1%

2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Thereafter

19 Leasing Activity as of September 30, 2020

Second Generation Short-Term Early Average Average First Leases Renewals Average Average Net Capital Capital Average Total Generation Square Feet Square Feet Square Term in Effective Expenditures Expenditures NER Cash Rent Leasing Square Feet (a) (b) Feet Years Rent per SF per SF per Year Growth Growth Square Feet Year Ended 2019 New leases 10,592,329 1,098,834 — 3,854,402 7.2 $ 5.59 $ 6.91 $ 0.96 15,545,565 Renewal leases — 1,316,822 1,449,497 11,171,774 5.1 5.53 2.27 0.44 13,938,093 Total 10,592,329 2,415,656 1,449,497 15,026,176 5.6 $ 5.54 $ 3.46 $ 0.61 28.6% 12.0% 29,483,658 1st Quarter 2020 New leases 1,690,363 655,118 — 259,420 4.1 $ 6.78 $ 5.82 $ 1.42 2,604,901 Renewal leases — 197,868 58,080 1,152,897 4.5 6.35 2.34 0.52 1,408,845 Total 1,690,363 852,986 58,080 1,412,317 4.4 $ 6.43 $ 2.98 $ 0.68 32.7% 17.1% 4,013,746 2nd Quarter 2020 New leases 1,701,189 413,587 — 1,314,292 4.1 $ 5.36 $ 3.86 $ 0.94 3,429,068 Renewal leases — 1,013,133 1,252,881 1,939,484 5.2 5.94 2.84 0.55 4,205,498 Total 1,701,189 1,426,720 1,252,881 3,253,776 4.7 $ 5.71 $ 3.25 $ 0.69 26.6% 10.7% 7,634,566 3rd Quarter 2020 New leases 2,459,500 244,876 — 1,662,141 5.6 $ 7.18 $ 4.74 $ 0.85 4,366,517 Renewal leases — 676,328 1,264,836 1,029,943 3.2 4.35 1.47 0.47 2,971,107 Total 2,459,500 921,204 1,264,836 2,692,084 4.6 $ 6.10 $ 3.49 $ 0.75 32.1% 17.2% 7,337,624 Year to Date 2020 New leases 5,851,052 1,313,581 — 3,235,853 4.8 $ 6.41 $ 4.47 $ 0.92 10,400,486 Renewal leases — 1,887,329 2,575,797 4,122,324 4.5 5.66 2.36 0.53 8,585,450 Total 5,851,052 3,200,910 2,575,797 7,358,177 4.6 $ 5.99 $ 3.29 $ 0.71 29.8% 14.4% 18,985,936

(a) Short-Term Leases include both new leases and renewals which have lease terms less than 12 months. Short-Term renewals do not count toward percentage renewed calculation. (b) Early Renewals represent renewals signed in which the renewal commencement date is greater than two years from the month of signing with no changes to the economics of the remaining term of the original lease. Early renewals do not count toward percentage renewed calculation. Note: Activity is based on leases signed during the period and excludes non-core properties referenced on page 1. Note: Joint ventures are included at 100%.

Percent Renewed and Effective Percentage Re-Leased

95.9% 85.3% 79.2% 81.7% 67.2% Leases Renewed (1) 77.1% 75.1% Expiring Leases Immediately Backfilled (2) 68.3% 63.2% 45.7% % Re-leased

2019 Q1 2020 Q2 2020 Q3 2020 YTD 2020

Note: Percent renewed and effective percentage re-leased metrics exclude short-term leases and early renewals shown in the table above. (1) Percentage renewed is calculated by dividing the square feet of leases renewed by the square feet of leases up for renewal. The square feet of leases up for renewal is defined as the square feet of leases renewed plus the square feet of space vacated due to lease expirations. (2) Represents the additional percentage of leases which were re-leased during the same quarter in which the prior lease expired. 20 Debt Maturities

September 30, 2020 (in thousands)

Mortgages (1) Unsecured (1) Weighted Average Effective Interest Year Amortization Maturities Amortization Maturities Credit Facility (2) Total Rates

2020 $ 1,126 $ — $ — $ — $ — $ 1,126 5.56% 2021 4,413 9,047 — — — 13,460 5.46% 2022 4,646 — — 83,740 — 88,386 3.99% 2023 4,894 — — 250,000 47,000 301,894 3.33% 2024 5,155 — — 300,000 — 305,155 3.92% 2025 5,102 — — — — 5,102 5.09% 2026 3,238 — — 375,000 — 378,238 3.38% 2027 1,615 — — 475,000 — 476,615 3.18% 2028 1,307 — — 500,000 — 501,307 4.45% 2029 1,359 — — 400,000 — 401,359 3.96% 2030 1,413 — — 350,000 — 351,413 1.86% Thereafter 4,729 22,734 — 325,000 — 352,463 3.26%

$ 38,997 $ 31,781 $ — $ 3,058,740 $ 47,000 $ 3,176,518 3.49%

(1) Scheduled amortizations and maturities represent only Duke's consolidated debt obligations. (2) Comprised of the following: Total Maturities (in thousands)

$2,461,395 Commitment Balance O/S @ 9/30 Maturity * Rate @ 9/30

$1,200,000 $47,000 January 2023 L + .875% (1.04%)

*Date shown is final maturity date including extension options.

Weighted Fixed and Variable Rate Average Interest Weighted Average Components of Debt Balance Rate Maturity (yrs) Fixed Rate Secured Debt $69,178 4.83% 6.7 Fixed Rate Unsecured Debt 3,058,740 3.49% 9.2 Variable Rate Debt and LOC 48,600 1.00% 2.3 $3,176,518 3.49% 9.1 Deferred Financing Costs (34,004) Fair Value Adjustments 3,914 Total Debt per Balance Sheet $ 3,146,428 $301,894 $305,155 $88,386 $1,126 $13,460 $5,102

2020 2021 2022 2023 2024 2025 Thereafter

21 Unsecured Public Debt Covenants

Third Second First Fourth Debt Covenants Threshold Quarter 2020 Quarter 2020 Quarter 2020 Quarter 2019 Total Debt to Undepreciated Assets <60% 32 % 32 % 32 % 31 % Debt Service Coverage >1.5x 7.0 6.9 6.8 6.8 Secured Debt to Undepreciated Assets <40% 0.8 % 0.5 % 0.5 % 0.3 % Undepreciated Unencumbered Assets to Unsecured Debt >150% 307 % 307 % 299 % 314 %

Note: The ratios are based upon the results of Duke Realty Limited Partnership, the partnership through which Duke Realty conducts its operations, using calculations that are defined in the indenture and applicable supplemental indentures governing such indebtedness.

Three Months Ended

Unencumbered Consolidated Assets September 30, 2020 September 30, 2019 Number of properties 466 (1) 448 Total square feet (in thousands) 138,073 (1) 133,096 Gross book value (in thousands) $8,782,185 (1) $8,084,108 Annual stabilized NOI (in thousands) $694,767 (1) $637,140

(1) Excludes 11 consolidated properties under development at September 30, 2020 which will be unencumbered upon completion. These properties totaled approximately 6.6 million square feet with total anticipated stabilized project costs of approximately $886.6 million and anticipated stabilized NOI of approximately $47.0 million.

Senior Unsecured Debt Ratings: Standard & Poor's BBB+, Stable Outlook Moody's Baa1, Stable Outlook

Note: A securities rating is not a recommendation to buy, sell or hold securities and is subject to revision or withdrawal at any time by the rating organization.

22 Liquidity Analysis September 30, 2020 (in thousands)

Estimated 2020 Liquidity Remaining Near Term Debt Maturities Cash at 9/30 (see Balance Sheet pg. 4) $ 6,748 $88,386 Estimated AFFO 122,000 Only 3% of debt matures Dividends to be Paid (97,000) through 2022 Estimated Funds Available for Reinvestment1 25,000

Debt Amortization (1,126) $13,460 Cash 30,622 $1,126 2020 2021 2022 Credit Facility Availability2 1,145,741

Total Liquidity 1,176,363

Current Liquidity % of Unencumbered Assets 2020 Investment Activity

1% 2% Existing Development Pipeline Costs to Complete (see pg. 26) (312,092)

Future Development Spend less Land3 (209,000)

4 Acquisitions (162,932) $1.2B $9.7B Liquidity Unencumbered Dispositions4 254,100

Total Uses (429,924) 99% 98% Remaining Funding Capacity $ 746,439

Notes: Cash Credit Facility Encumbered Unencumbered This analysis represents our estimate of our liquidity and is based on the assumptions listed in the notes on this page. Funds available for reinvestment may differ from actual cash flows due to timing of receivables. (1) Funds Available for Reinvestment represents our midpoint estimate of AFFO, less dividends at the current rate for 2020. (2) Availability represents our $1.2B Credit Facility less outstanding borrowings and letters of credit. The Credit Facility including extension options at our control, matures in January 2023, and contains an $800 million accordion option to increase the capacity to $2 billion which lenders may choose to participate in. (3) Estimated total spend related to potential 2020 starts after 9/30. (4) Midpoint of guidance less any closed transactions.

23 Unconsolidated Joint Ventures September 30, 2020

Total in-service properties 39 Total properties under development 1 Percentage leased (A) 97.6 % Square feet (in thousands) (A): Total in-service properties 11,109 Total properties under development 358 Total square feet 11,467 Company effective ownership percentage 33% - 50% Balance sheet information (in thousands) (A) Real estate assets $ 306,276 Construction in progress 21,349 Undeveloped land 27,985 Other assets 76,109 Total assets $ 431,719 Debt $ 140,779 Other liabilities 28,482 Equity 262,458 Total liabilities and equity $ 431,719 Selected QTD financial information (Dollars in Thousands) (B) QTD share of rental revenue $7,451 QTD share of in-service property unlevered NOI $5,666 QTD share of interest expense $448 QTD share of EBITDA $5,735 Company share of JV gross assets $283,789 Company share of debt (1) $70,390

(A) Balance sheet and property information is reported at 100% of joint venture. (B) Reported at Duke's share of joint venture. (1) Includes four separate unconsolidated joint ventures. The outstanding debt consists of four separate loans held by 50% owned joint ventures: i) $59,000 at a variable rate of LIBOR plus .98% maturing November 2021 ii) $61,500 at a fixed rate of 3.3% maturing July 2025 iii) $12,750 at a fixed rate of 3.6% maturing November 2026 and iv) $7,300 at a variable rate of LIBOR plus 1.4% maturing April 2021.

24 Joint Venture Debt Maturities September 30, 2020

(in thousands)

Scheduled Weighted Average Year Amortization Maturities Total Interest Rate 2020 $ — $ — $ — — 2021 10 33,265 33,275 1.36% 2022 122 — 122 3.55% 2023 126 — 126 3.55% 2024 131 — 131 3.55% 2025 135 30,750 30,885 3.25% 2026 116 5,735 5,851 3.55% 2027 — — — — 2028 — — — — 2029 — — — — 2030 — — — — Thereafter — — — —

$ 640 $ 69,750 $ 70,390 2.38%

Weighted Weighted Average Interest Average Maturity Balance Rate (yrs) Fixed Rate Secured Debt $37,125 3.30% 4.9 Fixed Rate Unsecured Debt — N/A N/A Variable Rate Debt and LOC's 33,265 1.36% 1.1 Total $70,390 2.38% 3.1

Note: Scheduled amortization and maturities reported at Duke's share.

25 Development Projects Under Construction/Redevelopment September 30, 2020 (in thousands)

Initial Projected Initial Stabilized Costs Stabilized Stabilized Square % Costs Remaining Cash GAAP Development Market Own % Feet Leased (Own %) (Own %) Yield Yield

Steel Run Logistics Ctr Bldg 2 New Jersey 100% 921 100% Clay 99 bldg 1 Houston 100% 806 100% (J) RGLP Rail 1566 Columbus 50% 358 100% Projected In-Service 4th Qtr. 2020 2,085 100% $227,518

1000 Logistics Way Atlanta 100% 664 100% 48401 Fremont Blvd Northern California 100% 209 0% Projected In-Service 1st Qtr. 2021 873 76% $116,426

9180 Alabama St. Southern California 100% 1,079 100% Estimated Value Creation 13344 S Main Street Southern California 100% 290 0% Low Mid High 1510 Puyallup Street Seattle 100% 190 0% Value Value Value 150 Old New Brunswick Road New Jersey 100% 622 0% Projected In-Service 2nd Qtr. 2021 2,181 49% $322,239 Annual Stabilized NOI $47,650 $47,650 $47,650 Blended cap rate (1) 4.35% 4.10% 3.85% Implied value (Own %) $1,095,402 $1,162,195 $1,237,662 Central Logistics Park 60 Pennsylvania 100% 415 100% Value creation (Own %) $198,262 $265,055 $340,522 728 W. Rider Street Southern California 100% 1,203 0% Margin 22% 30% 38% Miami 27 Business Park 10310 South Florida 100% 222 72% Projected In-Service 3rd Qtr. 2021 1,840 31% $ 230,957

Company Total 6,979 63% $ 897,140 $ 312,092 5.3 % 6.0%

Joint venture projects are noted with a (J). Square feet and percentage leased are included at 100%. Stabilized costs, stabilized NOI, yields, and values are included at the Company's ownership percentage. (1) Midpoint cap rate represents weighted average estimated cap rates at the date the projects were started. High and low represent sensitivity analysis of +/- 25 basis points.

26 Development Project Deliveries (in thousands)

Wholly Owned Joint Venture Total

Initial Stabilized Initial Stabilized Initial Stabilized % % % % % % % Square Leased Leased Project Cash GAAP Square Leased Leased Project Cash GAAP Square Leased Leased Occupied Project Cash GAAP Feet at Start Current Costs Yield Yield Feet at Start Current Costs Yield Yield Feet at Start Current Current Costs Yield Yield

2019:

1st Quarter 2,059 0 % 71 % $ 151,209 5.9 % 6.8 % 149 64 % 100 % $ 4,422 7.7 % 8.3 % 2,208 4 % 73 % 73 % $ 155,631 5.9 % 6.8 %

2nd Quarter 2,916 75 % 94 % 233,622 6.6 % 7.1 % 645 0 % 85 % 17,368 7.0 % 7.6 % 3,561 62 % 93 % 93 % 250,990 6.6 % 7.1 %

3rd Quarter 1,342 27 % 100 % 127,744 6.0 % 6.6 % — — — — — — 1,342 27 % 100 % 100 % 127,744 6.0 % 6.6 %

4th Quarter 937 0 % 100 % 185,976 5.2 % 5.8 % — — — — — — 937 0 % 100 % 100 % 185,976 5.2 % 5.8 %

2019 Total 7,255 35 % 90 % $ 698,551 5.9 % 6.6 % 794 12 % 88 % $ 21,790 7.2 % 7.7 % 8,049 33 % 89 % 89 % $ 720,341 6.0 % 6.6 %

2020:

1st Quarter 336 54 % 100 % $ 36,872 5.9 % 6.4 % 211 98 % 100 % $ 17,787 7.7 % 8.6 % 547 71 % 100 % 80 % $ 54,659 6.5 % 7.1 %

2nd Quarter 3,225 45 % 85 % 257,849 6.3 % 7.0 % — — — — — — 3,225 45 % 85 % 85 % 257,849 6.3 % 7.0 %

3rd Quarter 1,484 35 % 89 % 190,263 5.9 % 6.9 % — — — — — — 1,484 35 % 89 % 89 % 190,263 5.9 % 6.9 %

2020 Total YTD 5,045 43 % 87 % $ 484,984 6.1 % 6.9 % 211 98 % 100 % $ 17,787 7.7 % 8.6 % 5,256 45 % 88 % 86 % $ 502,771 6.1 % 7.0 %

Note: Square feet for Joint Venture projects is shown at 100%; Project costs & returns included at ownership share. Note: Excludes development projects that have subsequently been sold.

Estimated Value Creation of Deliveries

2019 Total: 24.3% Q3 2020 : 38.2% 2020 YTD : 34.6%

$174,802 $72,726 $173,754

$190,263 $720,341 $502,771

Estimated Value Creation (000s)

Initial Stabilized Project Costs (000s) 27 Dispositions and Acquisitions (in thousands)

Dispositions Acquisitions Sales In-Place In-Place In-Place Acquisition In-Place Stabilized Stabilized Current Square Square Feet Proceeds Cap Rate % Leased Feet % Leased Cost Yield Acquisition Acquisition % Leased (1) (2) (2) (3) Cost Yield (2)

2019 1st Quarter 67 $ 8,415 7.0% 100.0 % (4) 577 71.9 % $ 77,693 3.0 % $ 79,386 4.5 % 71.9 % 2nd Quarter 855 95,500 5.3% 100.0 % 110 100.0 % 32,518 5.3 % 32,543 5.4 % 100.0 % 3rd Quarter 5,039 280,391 5.7% 87.7 % 252 100.0 % 39,150 4.4 % 39,221 4.4 % 100.0 % 4th Quarter 1,868 109,750 5.5% 95.9 % 460 100.0 % 67,547 4.8 % 69,852 4.8 % 52.4 %

2019 Total 7,829 $ 494,056 5.6 % 91.1 % 1,399 88.4 % $ 216,908 4.1 % $ 221,002 4.7 % 72.7 %

2020 1st Quarter 540 $ 27,450 6.4% 100.0 % — — $ — — $ — — — 2nd Quarter — — — — — — — — — — — 3rd Quarter 280 18,450 5.0% 100.0 % 680 100.0 % 112,068 4.6 % 118,601 4.8 % 100.0 % 2020 Total YTD 820 $ 45,900 5.8 % 100.0 % 680 100.0 % $ 112,068 4.6 % $ 118,601 4.8 % 100.0 %

Note: Joint venture properties are included at ownership share for all figures for both Dispositions and Acquisitions.

(1) Joint venture sales included at our ownership share and include any applicable preferred returns.

(2) Percentage leased represents the percentage of square feet where leases have been executed, without regard to whether the leases have commenced. In-Place figures for dispositions are as of the date of sale; and for acquisitions figures are as of the date of the acquisition. Current figures represent the percent leased as of the current period ended.

(3) Includes real estate assets and net acquired lease-related intangible assets but excludes other acquired working capital assets and liabilities.

(4) Property was sold pursuant to a tenant purchase option which was exercised upon substantial construction completion.

28 Components of Net Asset Value September 30, 2020 (unaudited and in thousands) Real Estate Properties Valued by Income Capitalization - Current Quarter Services Operations Net Income

Total stabilized properties generating positive NOI (page 13), (A) $ 178,089 Mid-Point of 2020 Full Year Guidance $ 5,000

Stabilized Properties - Future Additional PNOI Other Assets Commenced Leases in Free Rent Period $ 3,704 Signed Leases Not Commenced for Entire Period 1,714 Cash (1) $ 6,748 Total Embedded PNOI $ 5,418 Restricted Cash Held for Like-Kind Exchange (1) — Estimated PNOI from remaining lease-up of "Stabilized Properties - Pre-Economic" 1,862 Notes Receivable from Property Sales (1) — Additional PNOI - Stabilized Properties (A) $ 7,280 Accounts Receivable and Construction Receivables (1) 59,896 Other Tangible Assets (3) 102,326 Total Stabilized PNOI - Sum of (A) above $ 185,369 Subtotal Other Assets $ 168,970

Unstabilized Properties - Estimated PNOI upon Stabilization $ 908 Liabilities Total Debt, excluding deferred financing costs (page 10) $ 3,180,432 Non-Core Real Estate NOI $ 895 Share of JV Debt (page 25) 70,390 Other Tangible Liabilities (4) 335,348 Total Liabilities $3,586,170

Real Estate Not Valued Above by Income Capitalization Outstanding Shares and Share Equivalents Common Shares Outstanding (page 9) 371,510 Partnership Units Outstanding (page 9) 3,330 Gross book value of "Stabilized Properties - Economic" with negative NOI (page 13) $ 44,196 Other Potentially Dilutive Securities (page 7) 1,821 376,661 Development and Land Wholly Owned CIP (1) $ 604,819 Share of JV CIP 10,674 Notes Estimated Development Value Creation at Own % (page 26) 265,055 (1) As shown on Balance Sheets (page 4). Other Real Estate Assets (2) 123,970 (2) Book value of "other real estate assets" as described on page 8. (3) "Prepaid expenses and other assets", as shown on the "Detail of Other Assets and Other Wholly Owned Development Land (1) 259,109 Liabilities" on page 8. Wholly Owned Sale Land (1) 8,145 (4) Consists of construction payables, accrued real estate taxes, accrued interest and tenant Share of JV Land 13,992 security deposits (all as separately presented on the Balance Sheets on page 4) plus $ 1,285,764 "operating accruals" and "costs to complete and other cash obligations" as shown on the "Detail of Other Assets and Other Liabilities" on page 8.

29 2020 Range of Estimates

(dollars in millions except per share amounts) 2019 2020 Range of Estimates Metrics Actual YTD Key Assumptions Pessimistic Optimistic

Net Income per Share Attributable to $1.18 $0.35 $0.66 $0.88 - Previous guidance in a range of $0.63 to $0.87 per share. Common Shareholders - Diluted - Lower gains on property sales and higher depreciation expense in 2020 compared to 2019. NAREIT FFO per Share Attributable to $1.40 $1.00 $1.38 $1.44 - Previous guidance in a range of $1.35 to $1.43 per share. Common Shareholders - Diluted - Expense impact of internal leasing costs, $0.03 to $0.04 per share. - Total bad debt/collectability adjustments of $.02 per share in 2020. Core FFO per Share Attributable to $1.44 $1.11 $1.50 $1.54 - Previous guidance in a range of $1.48 to $1.54 per share. Common Shareholders - Diluted - Strong leasing activity and rent collections. - Midpoint estimate of $0.5 for Q4 bad debt expense. Growth in AFFO - Share Adjusted 10.2% 7.0% 4.6% 7.7% - Previous guidance in a range of 3.1% to 7.7%. - Strong leasing activity and rent collections. - Increased level of Q4 leasing capex for lease commencements. Average Percentage Leased 98.1% 97.3% 97.3% 97.7% - Previous guidance in a range of 96.5% to 97.9%. (stabilized portfolio) - Lower tenant default estimate from previous guidance. - Accelerated lease-up of spec developments. Average Percentage Leased 96.0% 96.7% 96.7% 97.1% - Previous guidance in a range of 96.0% to 97.4%. (In-service portfolio) - Increased leasing and minimal defaults. - Accelerated lease-up of spec developments. Same Property NOI - Cash 4.7% 5.5% 4.7% 5.1% - Previous guidance in a range of 3.5% to 4.5%. - Increased leasing and minimal defaults. - Strong rent growth. - Net effective NOI 2% to 2.5% lower, reflecting Q1 non-cash collectability reserve.

Building Acquisitions $217 $112 $225 $325 - Previous guidance in a range of $50 to $250. (Duke share) - Coastal markets focus. Building Dispositions $494 $46 $250 $350 - Previous guidance in a range of $200 to $400. (Duke share) Development Starts $1,086 $376 $650 $800 - Previous guidance in a range of $350 to $550. (JVs at 100%) - Increased build to suit prospect list. - Speculative development starts in coastal markets. Service Operations Income $6 $5 $4 $6 - Previous guidance in a range of $2 to $6.

General & Administrative Expense $61 $45 $59 $55 - 2019 included one-time technology costs. - Excludes severance costs from overhead restructuring. Effective Leverage (Gross Book Basis) 30% 31% 33% 29% Fixed Charge Coverage (TTM) 5.2X 5.5X 5.3X 5.7X Net Debt to Core EBITDA (TTM) 4.6X 5.0X 5.2X 4.8X

30