Brandywine Realty Trust announced the expiration of the previously announced cash tender offer by its operating partnership, Brandywine Operating Partnership, LP, for any and all of its outstanding 4.10% Guaranteed Notes due October 1, 2024. The Tender Offer expired at 5:00 p.m., New York City time, on April 19, 2024. As of the expiration of the Tender Offer, $221,601,000 or 66.13% of the $335,100,000 aggregate principal amount of the Notes had been validly tendered and not withdrawn in the Tender Offer (excluding $75,000 in aggregate principal amount of the Notes submitted pursuant to the guaranteed delivery procedures described in the Operating Partnership?s Offer to Purchase, dated April 15, 2024 (the ?Offer to Purchase?) and the related Notice of Guaranteed Delivery (together with the Offer to Purchase, the ?Offer Documents?)).

The Operating Partnership accepted for purchase all of the Notes validly tendered and delivered (and not validly withdrawn) in the Tender Offer at or prior to the Expiration Date. Payment for the Notes purchased pursuant to the Tender Offer is intended to be made on April 23, 2024 (the ?Settlement Date?). The consideration to be paid under the Tender Offer will be $994.48 per $1,000 principal amount of Notes (the ?Purchase Price?), plus accrued and unpaid interest to, but not including, the Settlement Date.

The total Tender Offer consideration of $220,932,996.21 including the Purchase Price and accrued and unpaid interest (excluding consideration and accrued and unpaid interest for the Notes delivered pursuant to the Notice of Guaranteed Delivery) will be funded with net proceeds the Company received from the sale of $400,000,000 aggregate principal amount of its 8.875% Guaranteed Notes due 2029. The Notes validly tendered by the Notice of Guaranteed Delivery and accepted for purchase are expected to be purchased on the second business day after the Settlement Date, but payment of accrued interest on such Notes will only be made to, but not including, the Settlement Date. It is expected that the Operating Partnership will retire approximately 66.13% of the aggregate principal amount outstanding of the Notes pursuant to the Tender Offer (excluding Notes delivered pursuant to the Notice of Guaranteed Delivery).

The Tender Offer was made pursuant to the Offer to Purchase, the related Letter of Transmittal and Notice of Guaranteed Delivery. BofA Securities and Citigroup acted as Dealer Managers for the Tender Offer. This press release is neither an offer to purchase nor a solicitation to buy any of the Notes nor is it a solicitation for acceptance of the Tender Offer.

The Operating Partnership intends to redeem all of the Notes that have not been tendered in the Tender Offer and the expected redemption date will be June 7, 2024.