Table of Contents

September 30, 2023

COMPANY HIGHLIGHTS

Page

Page

Our Mission and Cluster Model

iii

Environmental, Social, and Governance Matters

xxxii

EARNINGS PRESS RELEASE

Page

Page

Third Quarter Ended September 30, 2023 Financial and

Operating Results

1

Earnings Call Information and About the Company

8

Guidance

4

Consolidated Statements of Operations

9

Acquisitions

6

Consolidated Balance Sheets

10

Dispositions and Sales of Partial Interests

7

Funds From Operations and Funds From Operations per Share ....

11

SUPPLEMENTAL INFORMATION

Page

Page

Company Profile

14

External Growth / Investments in Real Estate

Investor Information

15

Investments in Real Estate

33

Financial and Asset Base Highlights

16

New Class A/A+ Development and Redevelopment

High-Qualityand Diverse Client Base

18

Properties:

High-Quality and Diverse Client Base in AAA Locations

19

Recent Deliveries

35

Occupancy

20

Current Projects

37

Internal Growth

Summary of Pipeline

43

Key Operating Metrics

21

Construction Spending and Capitalization of Interest

48

Same Property Performance

22

Joint Venture Financial Information

49

Leasing Activity

23

Balance Sheet Management

Contractual Lease Expirations

24

Investments

51

Top 20 Tenants

25

Key Credit Metrics

52

Summary of Properties and Occupancy

26

Summary of Debt

53

Property Listing

27

Definitions and Reconciliations

Definitions and Reconciliations

57

Alexandria Real Estate Equities, Inc. All Rights Reserved. © 2023

ii

Source: S&P Global Market Intelligence. Assumes reinvestment of dividends.

  1. Alexandria's IPO priced at $20.00 per share on May 27, 1997.
  2. REITs included in the FTSE Nareit Equity Health Care Index for which total stockholder return information since May 1997 is not available are not presented.

Alexandria Real Estate Equities, Inc. All Rights Reserved. © 2023

iv

  1. Source: YCharts. Based on aggregate market capitalization for the life science industry, encompassing biotechnology companies, drug manufacturers, and diagnostics and research companies as of June 16, 2023.
  2. Source: Evaluate Pharma, October 2023.
  3. Source: PitchBook, BioCentury, and NASDAQ. Public Markets includes IPOs, follow-ons, and public equity financings.
  4. Source: Congressional Research Service, "National Institutes of Health (NIH) Funding: FY1996-FY2024," updated May 17, 2023. National Science Foundation (NSF).
  5. Source: The Giving Institute, "Giving USA 2023: The Annual Report on Philanthropy for the Year 2022."

Refer to "Net operating income" in the "Definitions and reconciliations" of our Supplemental Information for additional details and its reconciliation from the most directly comparable financial measures presented in accordance with GAAP.

  1. Our share of annual incremental net operating income primarily commencing from 4Q23 through 3Q26 is $491 million.
  2. Represents projects under construction aggregating 5.6 million RSF and two near-term projects aggregating 0.8 million RSF expected to commence construction during the next three quarters after September 30, 2023.

Note: RSF amounts as of September 30, 2023. Refer to "Competitive supply" in the "Definitions and reconciliations" of our Supplemental Information for additional information.

Note: RSF amounts as of September 30, 2023. Refer to "Competitive supply" in the "Definitions and reconciliations" of our Supplemental Information for additional information.

Note: RSF amounts as of September 30, 2023. Refer to "Competitive supply" in the "Definitions and reconciliations" of our Supplemental Information for additional information.

  1. Includes active development, active redevelopment, and near-term projects expected to commence construction in the next three quarters.

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Alexandria Real Estate Equities Inc. published this content on 23 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 October 2023 20:22:37 UTC.