Investor Presentaiton

Illustrative Example of How Easterly Thinks About Renewals MARKET RENT REPLACEMENT COST • Lease Renewal Analysis Easterly Government Properties Inc. • Bullseye Property fulfills the right mix of mission criticality, tenant agency representation and customized building features Company bases renewal price upon replacement cost for this asset "Bullseye" represents the vast majority of the Easterly Portfolio Plain Vanilla • • Property fulfills important missions for tenant agencies but within a more typical office setting Company bases renewal price upon local market rent for this asset class "Plain vanilla" represents a very small portion of the Easterly Portfolio 15

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