Highwoods Announces Tender Offer for Up to $100,000,000 Outstanding 3.20% Notes due 2021 - Seite 2

The total consideration (the “Total Consideration”) paid in the Offer for Notes that are validly tendered and not withdrawn at or prior to the Early Tender Deadline and accepted for purchase will be determined in the manner described in the Offer to Purchase by reference to the fixed spread for the Notes specified in the table above plus the yield to maturity of the Reference U.S. Treasury Security specified in the table above and in the Offer to Purchase and will include an early tender premium of $30.00 per $1,000 principal amount of the Notes accepted for purchase (the “Early Tender Premium”). Holders of Notes who validly tender their Notes following the Early Tender Deadline and on or prior to the Expiration Date will only receive the applicable “Tender Offer Consideration” per $1,000 principal amount of any such Notes tendered by such holders that are accepted for purchase, which is equal to the Total Consideration minus the Early Tender Premium.  The Total Consideration will be determined at 10:00 a.m., New York City time, on August 13, 2020, unless extended by the Operating Partnership (the “Tender Offer Price Determination Date”).

Tenders of Notes will be accepted only in principal amounts equal to $2,000 or integral multiples of $1,000 in excess thereof.  No alternative, conditional or contingent tenders will be accepted.  Holders who tender less than all of their Notes must continue to hold Notes in at least the minimum authorized denomination of $2,000 in principal amount.

Payments for Notes purchased will include accrued and unpaid interest from, and including, the most recent interest payment date for the Notes to, but excluding, the applicable settlement date. The settlement date for Notes that are validly tendered on or prior to the Early Tender Deadline (the “Early Settlement Date”) is expected to be August 14, 2020, subject to all conditions to the Offer having been either satisfied or waived by the Operating Partnership.  The settlement date for the Notes that are tendered following the Early Tender Deadline but on or prior to the Expiration Date is expected to be August 28, 2020 (the “Final Settlement Date”), subject to all conditions to the Offer having been either satisfied or waived by the Operating Partnership, assuming Notes having an aggregate principal amount equal to the Tender Cap are not purchased on the Early Settlement Date.