Investor Presentaiton

Overview of a Typical U.S. Government Lease Type of Lease Tenants Modified gross lease U.S. Government agencies ☐ Initial term of typically 10 - 20 years Lease Term (1) ◉ Renewal leases typically 5 - 10 years Base Rent Base rent for initial term is generally set at a flat rate for the life of the lease Easterly Government Properties Inc. Tenant Reimbursement Operating Expenses: Tenant required to pay a portion of the increases after the initial base year (Urban CPI - based) Property Taxes: Tenant is typically required to pay for any increase after the initial base year • Certain leases may include a TI allowance within base rent which is amortized over the life of the lease Tenant Improvements " Other alterations made at tenant's expense, generally managed and performed by Easterly Renewal Rate New base rent reset based on: - Inflation - Replacement cost of the building at time of renewal - Enhancements to the property since the date of the prior lease Note: The above represents a general description of a typical lease with U.S. Government agencies. Leases are typically based on the GSA form lease, but the terms and conditions of any actual lease may vary from the terms described above. Some leases include a "soft term" following an initial guaranteed term that allows the tenant the right to terminate the lease before the stated term expires. (1) 31

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