X0306 4 2020-09-14 0 0001689796 JBG SMITH Properties JBGS 0001242824 ESTES SCOTT A C/O JBG SMITH PROPERTIES 4747 BETHESDA AVENUE, SUITE 200 BETHESDA MD 20814 1 0 0 0 Common Shares 2020-09-14 4 P 0 12048 27.19 A 32048 D Common Shares 2020-09-14 4 P 0 6500 27.78 A 38548 D Common Shares 2020-09-15 4 P 0 1452 27.87 A 40000 D The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $26.72 to $27.71, inclusive. The reporting person undertakes to provide to JBG SMITH Properties, any security holder of JBG SMITH Properties, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $27.75 to $27.81, inclusive. The reporting person undertakes to provide to JBG SMITH Properties, any security holder of JBG SMITH Properties, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (2) to this Form 4. /s/ Steven A. Museles, attorney-in-fact 2020-09-16