At-A-Glance NYSE: HIW 2Q 2015 DEVELOPMENT ACQUISITION LEASING ASSET MANAGEMENT

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1 At-A-Glance NYSE: HIW 2Q 2015 DEVELOPMENT ACQUISITION LEASING ASSET MANAGEMENT

2 HIGHLIGHTS 2Q 2015 Earned FFO of $0.77 per share, including $1.2 million of land sale gains Leased 1.2 million square feet of office, including 916,000 square feet of second generation office at an average term of 5 years Grew average in-place office cash rents per square foot by 4.6% year-over-year Achieved GAAP rent growth of 9.3% on second generation office leases signed Placed $72 million of 100% pre-leased development in service Announced the development of Riverwood 200, a 12-story office building adjacent to Company-owned Riverwood 100 (502,500 square feet, 94.1% occupied) Diversification (% of Annualized Revenue) By Customer Federal Government 5.8 Metropolitan Insurance 2.5 PPG Industries 1.5 HCA Corporation 1.3 EQT Corporation 1.2 International Paper 1.2 Healthways 1.1 Bass, Berry & Sims 1.1 State of Georgia 1.0 Lockton Companies 0.9 Top % Acquired a 168,300 square foot, 74% occupied office building in Orlando from its joint venture partner for a total investment of $22.3 million, a 50% discount to estimated replacement cost Fortified balance sheet by expanding its $225 million unsecured bank term loan to $350 million, extending the maturity by an additional year to 2020 and reducing the LIBOR borrowing spread from 175 basis points to 110 basis points Paid off $39 million of secured debt with a rate of 6.43%, increasing the Company s unencumbered NOI to 84.2% By Market Average Office Cash Rental Rates for All In-Place Leases as of: Greensboro 5% Richmond 6% 16% $ Orlando 7% Memphis 8% Kansas City 8% 16% /30/11 6/30/12 6/30/13 6/30/14 6/30/15 Pittsburgh 9% Tampa 11% * Includes Pro-Rata Share of Joint Ventures 14% 2

3 DEVELOPMENT 2015 DEVELOPMENT GUIDANCE $200 $250M $200M Bridgestone Americas HQ 514K SF 99% pre-leased $107M Riverwood K SF 66% pre-leased $59M Seven Springs West AIG 203K SF 86% pre-leased $17M Plaza 211 (Redevelopment) Kansas City 28K SF 0% pre-leased $7.6M Enterprise V (Industrial) Triad 131K SF 0% pre-leased $110M MetLife I & II 427K SF 100% leased Delivered & Stabilized 1Q15/2Q15 $56M Laser Spine Institute HQ Tampa 176K SF 100% pre-leased $36M GlenLake Five 166K SF 84% leased Delivered in 1Q15 & Stabilizes 2Q17 $38M Seven Springs II 131K SF 0% pre-leased $15M Biologics HQ 75K SF 100% leased Delivered & Stabilized 1Q15 Pipeline $521M 73% Pre-leased 1.6M SF 6 Markets 8 Buildings Cash Rent Commencement Investment($M) SF Pre-Leased % 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 MetLife I , Biologics HQ 15 75, MetLife II , GlenLake Five , Plaza 211 (Retail) 17 28,000 0 Enterprise V (Industrial) ,000 0 Laser Spine Institute HQ , Seven Springs West (AIG) , Bridgestone Americas HQ , Riverwood , Seven Springs II Totals $ ,150,000 75% 3

4 VALUE-ADD ACQUISITIONS Eola % Lincoln Plaza One Bank of America Plaza Pinnacle GlenLake (2) CBD Orlando (5) One Alliance Center Meridian I & II EQT Two Alliance Center PPG Place Riverwood ( ) Denotes # of bldgs Occupancy Achieved (as of 6/30/15) Occupancy Potential Chart above represents 7.2M SF of acquisitions. We have captured 656K SF (9.2%) of value add lease-up. $214.1M PPG Place (6 bldgs) Pittsburgh $99.2M EQT Plaza Pittsburgh There is another 260K SF (3.6%) yet to be captured! $86.3M Riverwood 100 $146.7M Two Alliance Center

5 2015 ACQUISITION GUIDANCE $50 $300M $152.8M Pinnacle at Symphony Place Highwoodtizing $46.0M Glenlake North & South (2 bldgs) JV Partner s Share (57%) Shock n Awe Value-Add Brand Trigger Highwoods Standard $117.5M CBD Orlando (5 bldgs) JV Partner s Share (60%) Orlando $143.4M One Alliance Center $68.3M Lincoln Plaza Orlando $22.3M JV Partner s Share (77%) Eola Orlando Acquired June 2015 $56.0M Meridian I & II (2 bldgs) Tampa $92.3M One Bank of America Plaza 168K SF, 14-Stories 52% below replacement cost 74% occupancy

6 FINANCIALS FFO Growth: 6% YOY Increase at Midpoint (Backing Out 7 Land Sale Gain in 2014) 2015 Outlook* (Assumptions as of August 4, 2015) FFO Per Share $3.00 $3.06 Same Property Cash NOI Growth 6.0% 6.5% Straight-Line Rental Income $21M $23M G&A Expenses $36.5M $37.5M Acquisitions $50M $300M Development Announcements $200M $250M Dispositions $100M $200M Year-End Occupancy 93.0% 93.5% Weighted Average Fully Diluted Shares Outstanding 97.0M 97.5M Low High * This outlook reflects management s view of current and future market conditions, including assumptions such as rental rates, occupancy levels, operating and general and administrative expenses, fully diluted shares outstanding and interest rates. This outlook does not include any effects related to potential acquisitions and dispositions that may occur after the date of this release. Factors that could cause actual 2015 FFO results to differ materially from Highwoods current expectations are detailed in the Company s 2014 Annual Report on Form 10-K and subsequent SEC filings. Strong Balance Sheet (6/30/15) War on Complexity 42.1% Debt + Preferreds as % of Gross Assets 5.5x Debt to Annualized EBITDA 84.2% Unencumbered NOI* 5.7% Secured Debt as % of Gross Assets Investment Grade Ratings Baa2 BBB BBB Joint Ventures Reduction Buildings % SF 7.3M 2.2M -70% % of Annual Revenue 10.2% 3.5% -66% Streamlines leasing process Enhances unencumbered pool Removes JV partner credit risk Reduces G&A expense *Pro Forma $ Millions 700 Sound Maturity Ladder Proforma (As of June 30, 2015) Average Interest Rate PAID 7.08% 5.48% $379 Bonds 7.50% 1.34% $228 LOC $159 LOC 2.25% $350 Bank Loan Fixed / Floating 3.36% 3.75% $200 $297 $158 $200 Bank Bonds $248 $39 $115 Loan Bonds Secured Bonds $0 Secured Secured Floating

7 DEVELOPMENT FISHIN Lobby Ovation Office OVATION Retail 7

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