JBG SMITH Properties Announces Pricing of Public Offering of Common Shares

JBG SMITH Properties (NYSE:JBGS) (the “Company” or “JBG SMITH”) today announced the pricing of an underwritten public offering of 10,000,000 common shares at a public offering price of $42.00 per share. The Company has also granted the underwriters a 30-day option to purchase an aggregate of up to an additional 1,500,000 common shares at the public offering price, solely to cover overallotments, if any. The Company estimates that the net proceeds from the offering, after deducting the underwriting discounts and commissions and other estimated offering expenses, will be approximately $410.6 million, or $472.3 million if the underwriters exercise their option to purchase additional shares in full.

The Company intends to use the net proceeds from the offering to fund development opportunities and for general corporate purposes, which may include paying down indebtedness. The shares are expected to be delivered on or about April 18, 2019, subject to customary closing conditions.

The offering is being made pursuant to an effective shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission on July 2, 2018. A prospectus supplement and accompanying prospectus relating to the offering will be filed with the Securities and Exchange Commission.

Morgan Stanley, BofA Merrill Lynch and Goldman Sachs & Co. LLC are serving as joint book-running managers for the offering. A copy of the final prospectus supplement and the accompanying prospectus may be obtained, when available, from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2^nd Floor, New York, NY 10014; BofA Merrill Lynch, 200 North College Street, 3rd Floor, Charlotte, NC 28225-0001, Attn: Prospectus Department, or by emailing [e-mail]; or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: [phone], facsimile: 212-902-9316 or by emailing [e-mail].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About JBG SMITH

JBG SMITH is an S&P 400 company that owns, operates, invests in and develops assets concentrated in leading urban infill submarkets in and around Washington, DC. Our mixed-use operating portfolio comprises approximately 19 million square feet of high-quality office, multifamily and retail assets, 98% of which are Metro-served.