Boston Properties Investor Presentation — September 2021

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BXP Investor Update:

September 2021 Conferences2Except as otherwise expressly indicated, all data is as of June 30, 2021.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 impact 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 reconcili ations to the

most directly comparable GAAP measures are included in the Appendix .3

The largest publicly -traded developer, owner and

manager of Class A office properties in the U.S.BXP Quick Facts

1. Includes 100% of consolidated and unconsolidated properties.

3. Excludes residential and hotel properties . Calculation is based on BXP’s Share of Annualized Rental Obligations. See Appendix

4. Represents proforma square footage which includes 3.3M SF of stabilized portfolio plus 1.0M SF of current life sciences redev elopments/lab conversions in process. Includes 100% of consolidated and unconsolidated properties. Actual square footage may

differ materially depending on the outcome of the permitting and entitlement processes for each project. As of June 7, 2021.

5. FTSE Nareit All REITs Index.S&P 500

Square Feet Owned1Top 5%

Square Feet Currently

Annualized EBITDA re21179%

•1.5x REIT Index57.9 Years

Weighted- average lease

Distribution241. Calculated as BXP’s Share of Annualized Revenue from Parking, Hotel and Retail in Q4 2020 as compared to BXP’s Share of Annualiz ed Revenue from Parking, Hotel and Retail in Q4 2019.

2. Represents BXP’s Share of Estimated Total Investment, including income (loss) and interest carry during development. For additi onal information, refer to the “Active Development Pipeline” page of this presentation.