Citi Global Property CEO Conference

March 4, 2024

Differentiated Tech & Media Focused REIT

Uniquely focused on building, owning and operating premier real estate and related services required by the dynamic and synergistic tech, media and other creative industries

Value creation opportunities in west coast tech hubs and global media markets

Only publicly traded owner / operator of combined office and studio portfolio

Full-service platform with deep relationships and expertise

Proactive balance sheet management, track record of strategic capital access to fund growth

Award-winning corporate responsibility program, 100% carbon neutral operations

19M Sq Ft Portfolio

London (U.K.)

1.2M Sq Ft Future Development

New York

0.2M Sq Ft Under Construction

Vancouver (Canada)

1.5M Sq Ft

3% HPP's Share NOI

0.5M Sq Ft Future Development

Seattle

2.2M Sq Ft

14% HPP's Share NOI

Existing Portfolio Sq Ft

San Francisco

Under Construction /

Future Development Sq Ft

2.4M Sq Ft

21% HPP's Share NOI

Silicon Valley

5.7M Sq Ft

36% HPP's Share NOILos Angeles

3.2M Sq Ft

26% HPP's Share NOI

0.2M Sq Ft Under Construction

1.6M Sq Ft Future Development

Note: Data as of 12/31/23. See appendix for definitions of commonly used terms and reconciliations of non-GAAP measures. There can be no assurance that under construction or future development

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projects will be completed. Management's estimate of developable square footage may remain subject to approvals not yet obtained.

High-Quality, Innovation Focused Tenancy

HPP's premier portfolio and focus on tech and media epicenters attracts a tenant base of leading public and established private companies with the potential for growth in their respective markets

HPP's 10 Largest Tenants

Tenant

HPP's Share

% ABR

10.1%

5.5%

5.0%

3.7%

3.1%

2.9%

2.0%

2.0%

1.4%

1.2%

~11 Years WALT1

~4 Years Remaining WALT1

HPP's Share of ABR by Public2 / Private & Age

6%

34%

60%

Public Company Private Company ≥10 Years

Private Company <10 Years

Public2 Tenants

HPP's Share

% ABR

% Investment Grade

73%

Investment Grade % of Total

44%

Note: Data as of 12/31/23. See appendix for definitions of commonly used terms. (1) Reflects HPP's share of total and remaining weighted average lease term. (2) Reflects status of tenant or tenant's

3

parent entity. There can be no assurance that parent entity will satisfy lease and other obligations upon default.

Potential Tenant Demand Remains Encouraging

HPP's current leasing pipeline remains near record levels with number of tours continuing to trend upward to levels not seen since pre-pandemic, even as new deals take time to execute

HPP's 1.9M Sq Ft Current Leasing Pipeline1

Well Above Historic Average

New / Renewal

Lease Sq Ft (in

Pipeline Sq Ft (in

Thousands)

Thousands)

1,200

2,500

1.9M

1,000

1.5M Pipeline

Historic Avg.2

2,000

800

1,500

600

1,000

400

200

500

-

-

3Q23

4Q18

1Q19

2Q19

3Q19

4Q19

1Q20

2Q20

3Q20

4Q20

1Q21

2Q21

3Q21

4Q21

1Q22

2Q22

3Q22

4Q22

1Q23

2Q23

4Q23

New

Renewal

Pipeline

  • & Aggregate Sq Ft of Tours at HPP Assets Highest Since 2018 (Pre-Pandemic)

Total Tour

Sq Ft (in

Thousands)

# Tours

2,000

160

1,800

140

1,600

120

1,400

1,200

100

1,000

80

800

60

600

40

400

200

20

0

0

2Q20

4Q18

1Q19

2Q19

3Q19

4Q19

1Q20

3Q20

4Q20

1Q21

2Q21

3Q21

4Q21

1Q22

2Q22

3Q22

4Q22

1Q23

2Q23

3Q23

4Q23

Total Sq Ft

Tour Count

Activity on ~40% of 1.5M Sq Ft of HPP's 2024 Expirations3

Lowest Level of Expirations in 3 Years-In Line with Historical Average

Only 1 Expiration >100,000 Sq Ft

Note: Data as of 12/31/23 unless otherwise indicated. See appendix for definitions of commonly used terms. There can be no assurance that deals will be consummated at expected terms or at all. (1)

HPP's pipeline comprised of deals in leases, LOIs or proposals. (2) Based on data from 2Q15 to 4Q23 in line with comparable portfolio size. (3) HPP activity comprised of deals in leases, LOI, proposals

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and discussions.

Studios in High-Demand /Supply-Constrained Markets

~90% of HPP's studio portfolio is located in Hollywood or greater Los Angeles, where pre-strike,long-term average sound stage occupancy was 94%1

Los Angeles Remains Location of Choice

for Scripted Content Filming

2022 # of U.S. Productions2

250

# of California

Productions 2x Next

200

Largest Market

150

100

50

0

Episodic Feature

HPP's In-Process Developments Well Positioned

Relative to New Competitive Supply

Est.

#

Delivery

Description

Stages

Year

Los Angeles - Under Construction3

2024

17

+ Sunset Glenoaks (7 stages - Los Angeles' first

purpose-built studio in 25 years)

+ 3 non-HPP projects including some conversion

stages and all with inferior locations compared to

Sunset Glenoaks, but for 2 stages in Glendale

2025

22

+ 2 non-HPP projects with 16 stages pre-leased to

Warner Bros. Discovery and remainder with inferior

locations compared to Sunset Glenoaks

2026+

--

+

None

New York - Under Construction3

2024

23

+ 3 non-HPP projects all with inferior locations

compared to Sunset Pier 94 in city's outer boroughs

2025

17

+ Sunset Pier 94 (6 stages - Manhattan's first

purpose-built studio)

+ 3 non-HPP projects including some conversion

stages and all with inferior locations compared to

Sunset Pier 94 in city's outer boroughs and New

Jersey

2026+

--

+

None

Note: Data as of 12/31/23. (1) CBRE based on data from 2016 to 2022. (2) ProdPro. (3). Based on management's assessment of competitive pipeline. There can be no assurance that under construction

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or future development projects will be completed.

Selective Development & Diversified Future Pipeline

HPP's under construction projects require minimal additional spend-future pipeline consists of studio, residential and office opportunities to execute on when timing is right

Under Construction - Studio

Under Construction - Studio

Under Construction - Office

SUNSET GLENOAKS

San Fernando Valley (Los Angeles) 241K Est. Sq Ft / 7 Stages

Est. Remaining HPP Spend: $4M

Est. Stabilization Date: 2Q24

Est. HPP's Share Stabilized NOI: $8M

SUNSET PIER 94

Manhattan (New York)

232K Est. Sq Ft / 6 Stages

Est. Remaining HPP Spend: $20M

Est. Stabilization Date: 3Q26

Est. HPP's Share Stabilized NOI: $7M

WASHINGTON 1000

Denny Triangle (Seattle)

546K Est. Sq Ft

Est. Remaining HPP Spend: $39M1

Est. Stabilization Date: 2Q26

Est. HPP's Share Stabilized NOI: $27M

Future

Development

Pipeline

7

Projects

4

Markets

3.2M

Sq Ft

~60/40%

Office/

Studio2

Note: Data as of 12/31/23. See appendix for definitions of commonly used terms. There can be no assurance that development pipeline will be completed on expected timeline or at all and that actual results will not differ materially from estimates. (1) Excludes approximately $71 million of leasing related costs. (2) Calculated as a percentage of total square footage.

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Substantial Cash Flow Growth Potential

HPP has an opportunity to create value through significant embedded growth assuming near-term acceleration in film/TV production and mid-to-longer-term improvement in office fundamentals

$260M Potential Cash NOI Growth1

Development Aggressive

Execution Leasing /

Sales

$367M +$131M +$42M

4Q23 Annualized HPP's Share Cash NOI

(Excluding Asset Sales)

Studio Portfolio Stabilization

In-Process Development

Operational Excellence

$540M

Potential Stabilized HPP's Share Cash NOI

47%

Potential Growth (Near- to Mid-Term)

+$87M

Office Portfolio Stabilization

$627M

Potential Stabilized HPP's Share Cash NOI

71%

Potential Growth (Mid- to Longer Term)

Note: See appendix for definitions of commonly used terms and reconciliations of non-GAAP measures. Analysis assumes no dispositions or changes to existing occupancy or rents other than described

herein. (1) Includes: HPP's share of 4Q23 annualized cash NOI less $27 million attributable to 4Q23 annualized cash NOI for assets sold in 4Q23; HPP's share of incremental cash NOI comparing 4Q23 annualized studio cash NOI to stabilized studio cash NOI (calculated as 2022 (pre-strike)same-store studio cash NOI plus $75 million estimated non-same-store (Quixote) stabilized cash NOI); HPP's share of estimated stabilized cash NOI for Sunset Glenoaks, Sunset Pier 94, and Washington 1000; HPP's share of incremental cash NOI from in-service and repositioning office properties under 92% occupancy as of 4Q23 reaching 92% at an average in place building-specific market rate (excludes impact of variable operating costs/recoveries associated with lease up). There can be no assurance as to

the accuracy of management's estimates, that the underlying assumptions will be realized, or that actual results will not differ materially from these estimates.

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Focus on Fortifying the Balance Sheet

HPP continues to proactively strengthen its balance sheet-in 2023 this included executing on over

$1 billion of opportunistic asset sales

Current Liquidity

HPP Has No Debt Maturities Until November 20254

Cash on Hand

$100.4M

Revolver Availability

$708.0M

Construction Loan Availability

$200.6M

TOTAL

$1,009.0M1

37%

90%

HPP's Share

Fixed or

Net Debt / HPP's

($ in Millions)

$1,000

$800

Series B Notes:

Repay with

corporate liquidity or (un)secured financing (dividend suspension yields ~$36M of cash per quarter 1)

1918 Eighth:

Class A, 100%

leased Top 5 tech

company with ~5 yrs remaining lease term at maturity (tenant credit, debt yield expected to support refinancing)

Element LA:

Class A, 100%

leased to Riot Games HQ (Tencent backed) with ~5 yrs remaining lease term at maturity (tenant credit, debt yield expected to support refinancing)

Share Undepreciated

Capped

Rate Debt3

2

Book Value

8.9x

~4 Yrs

HPP's Share

Net Debt / HPP's

Avg. Debt

Share of Cash Adj.

Maturity

EBITDAre2

$600

$400

$200

$0

$0

$168

$173

$259

$531

$342

$138

$456

$56

$350

2024

2025

2026

2027

2028

(4Q)

Unsecured Debt

Secured Debt

Note: Data as of 12/31/23. See appendix for definitions of commonly used terms. (1) Revolver and construction loan borrowings are subject to certain conditions. (2) See appendix for reconciliations of

HPP's share of net debt, HPP's share of undepreciated book value and HPP's share of cash adjusted EBITDAre. (3) Fixed rate debt includes debt subject to interest rate swaps. (4) Reflects HPP's share of

principal amortization and maturities based on contractual maturity dates, including impact of extension options, and excluding unamortized deferred financing costs, loan discounts/premiums, and

8

consolidated joint venture partners' debt.

Potential Path to Improved Leverage Metrics

Execution on in-process developments and leasing, supported by assumed improvements in studio and office market fundamentals, provides a potential path to strengthen key leverage metrics

HPP's Share Net Debt / HPP's Share Cash Adj. EBITDAre

Estimated Following 4Q23 Asset Sales, Completion of In-

Process Developments & Related Debt Funding,

Stabilization of Studio / Office Portfolios

8.9x

7.0x

6.5x

5.6x

4Q23

+ Studio Portfolio

+In-Process

+Office Portfolio

Actual

Stabilized, Less

Developments

Stabilized3

Sold Assets1

Debt Funded,

Stabilized2

In-Line with HPP's Below 7.0x Target

Note: See appendix for definitions of commonly used terms and reconciliations of non-GAAP measures. Analysis assumes no dispositions or changes to leverage, occupancy or rents other than described

herein. (1) Adds in HPP's share of incremental cash NOI comparing 4Q23 annualized studio cash NOI to stabilized studio cash NOI (calculated as 2022 (pre-strike)same-store studio cash NOI plus $75

million estimated non-same-store (Quixote) stabilized cash NOI) less $27 million attributable to 4Q23 annualized cash NOI for assets sold in 4Q23. (2) Adds in HPP's share of estimated stabilized cash NOI

for Sunset Glenoaks, Sunset Pier 94, and Washington 1000 and related debt fully funded and assumes no other changes to office occupancy or rents. (3) Adds in HPP's share of incremental cash NOI

from in-service and repositioning office properties under 92% occupancy as of 4Q23 reaching 92% at an average in place building-specific market rate (excludes impact of variable operating

costs/recoveries associated with lease up). There can be no assurance as to the accuracy of management's estimates, that the underlying assumptions will be realized, or that actual results will not differ

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materially from these estimates.

Already an ESG Leader: HPPx2030 Vision

HPP has set additional ambitious targets to further reduce climate impact, grow its portfolio of green products and services, and diversify management

ESG Accolades

GRESB

NAREIT

Carbon Neutral

Newsweek

Sector Leader

Leader in the

Operations

Listed on

for Office Americas,

Light Award Office

Hudson Pacific

America's Most

2021-2023

Sector, 2022-

Achieved

Responsible

5-Star & Green

2023

Carbon Neutral

Companies,

Star Ratings,

Best New Entry,

Operation, 2020

2023

2019-2023

2019

Green Lease

Energy Star

Fitwel

Science Based

Leader

Partner of the

Fitwel Campion,

Targets

Silver Leader,

Year, 2019-2022

2019-2022

Emissions &

2019-2022

Sustained

Fitwel Best in

reduction

Excellence, 2021-

Building Health

Targets

2022

Award, 2020

Validated, 2020

Bloomberg

Globe Street

NAIOP

S&P Global

Gender Equality

Real Estate

Developer of

Sustainability

Index

Forum

the Year, 2021

Yearbook, 2022-

Member, 2023

Best Places to

2023

Work 2019, 2022

HPPx2030 Vision

  • 100% carbon neutral and renewable electricity in operations for 10 years
  • 50% absolute reduction in Scope 1 & 2 GHG emissions from operations, without offsetting instruments (2018 baseline)
  • 50% absolute reduction in energy and water used for operations (2019 baseline)
  • Zero waste-90%+ landfill diversion rate-in operations
  • 90% LEED, 80% Fitwel, 75% Energy Star in-service office portfolio
  • 50% absolute reduction in Scope 3 GHG emissions from production vehicles and transportation assets (2022 baseline)
  • 50% of production services business to come from "Verde" green production vehicles and transportation assets
  • >1% of adjusted net earnings donated to strategic charities annually for 10 years
  • $20M+ invested in innovative solutions to homelessness and housing affordability
  • Equal women and 100% increase in Black, Hispanic/Latino, or Asian employees in management (2021 baseline)
  • >15% of on-site contractors for (re)developments diverse and/or local

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Disclaimer

Hudson Pacific Properties Inc. published this content on 04 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 March 2024 11:43:06 UTC.