Boston Properties Investor Presentation — September 2020 - Boston Properties

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BXP Investor Update:

Nareit REITWorld 20202

Except as otherwise expressly indicated, all data is as of September 30, 2020.Forward -Looking Statements

This presentation contains forward -looking statements within the meaning of the federal securities laws. Please refer to the Appendix

for information on how to identify these statements, as well as risks and uncertainties, including the im pact of the COVID -19 pandemic

and related governmental actions and changes in economic conditions that could cause the Company’s actual results to differ

materially from those expressed or implied by the forward -looking statements. The Company does not intend, nor does it undertake a

duty, to update any forward -looking statements, except as may be required by law.

Use of Non -GAAP Financial Measures and Other Definitions

This presentation contains certain non -GAAP financial measures within the meaning of Regulation G and other terms that have

particular definitions when used by the Company. The Company’s definitions may differ from those used by other companies and ,

therefore, may not be comparable. The definitions of these terms and, if applicable, the reasons for their use and rec oncili ations to the

most directly comparable GAAP measures are included in the Appendix .3Differentiated Model with Long-Term AdvantagesBXP Snapshot

•Highest quality office portfolio across

five markets with strong historical

•Proven, trusted leadership team

•Modern portfolio of new or recently

1. Excludes residential and hotel properties. Calculation is based on BXP’s Share of Annualized Rental Oblig ations. See Appendix.AGILITY

•Diverse tenants across sectors

•Modest leverage with

substantial liquidity

•A rich history of maximizing

shareholder value across

•Portfolio of credit-strong

•8-year, weighted-average lease

•Pipeline of pre -leased

•Market-leader in Sustainability

4The largest publicly-traded developer, owner and manager of Class A office prop erties in the U.S.BXP Quick Facts

BXP’s Share of Annualized

Revenue2196 Properties1

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