Kilroy Realty Corporation Investor Presentation — June 2020

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KILROY REALTY | 1

REALTYCOMPANY UPDATE

June 2020KILROY REALTY | 2This presentation contains forward -looking statements within themeaning ofSection 27AoftheSecurities Actof1933 ,asamended, andSection 21EoftheSecurities Exchange Actof1934 ,

asamended .Forward -looking statements arebased onourcurrent expectations, beliefs andassumptions, andarenotguarantees offuture performance .Forward -looking statements are

inherently subject touncertainties, risks, changes incircumstances, trends andfactors thataredifficult topredict, many ofwhich areoutside ofourcontrol .Accordingly, actual performance,

results andevents may vary materially from those indicated orimplied intheforward -looking statements, andyoushould notrelyontheforward -looking statements aspredictions offuture

performance, results orevents .Numerous factors could cause actual future performance, results and events todiffer materially from those indicated intheforward -looking statements,

including, among others :global market andgeneral economic conditions andtheir effect onourliquidity andfinancial conditions andthose ofourtenants ;adverse economic orrealestate

conditions generally, andspecifically, intheStates ofCalifornia andWashington ;risks associated with ourinvestment inrealestate assets, which areilliquid, andwith trends intherealestate

industry ;defaults onornon-renewal ofleases bytenants ;anysignificant downturn intenants’ businesses ;ourability tore-lease property atorabove current market rates ;costs tocomply with

government regulations, including environmental remediation ;theavailability ofcash fordistribution and debt service and exposure toriskofdefault under debt obligations ;increases in

interest rates andourability tomanage interest rateexposure ;theavailability offinancing onattractive terms oratall,which may adversely impact ourfuture interest expense andourability to

pursue development, redevelopment andacquisition opportunities andrefinance existing debt;adecline inrealestate asset valuations, which may limit ourability todispose ofassets at

attractive prices orobtain ormaintain debt financing, andwhich may result inwrite -offsorimpairment charges ;significant competition, which may decrease theoccupancy andrental rates of

properties ;potential losses thatmay notbecovered byinsurance ;theability tosuccessfully complete acquisitions anddispositions onannounced terms ;theability tosuccessfully operate

acquired, developed andredeveloped properties ;theability tosuccessfully complete development andredevelopment projects onschedule andwithin budgeted amounts ;delays orrefusals in

obtaining allnecessary zoning, land useandother required entitlements, governmental permits andauthorizations forourdevelopment andredevelopment properties ;increases inanticipated