1

TABLE OF CONTENTS

Forward-Looking Statements	3
Earnings Release	4
Condensed Consolidated Statements of Operations	6
Condensed Consolidated Balance Sheets	7
Key Performance Metrics	8
Funds From Operations - Summary	11
Funds From Operations - Detail	12
Portfolio Statistics	15
Same Property Performance	17
Office Leasing Activity	19
Office Lease Expirations	20
Top 20 Office Tenants	22
Tenant Industry Diversification	23
Investment Activity	24
Development Pipeline	26
Land Inventory	27
Debt Schedule	28
Non-GAAP Financial Measures - Calculations and Reconciliations	31
Non-GAAP Financial Measures - Discussion	37

Cousins Properties Incorporated Q2 2017 Supplemental Information

FORWARD-LOOKING STATEMENTS

Certain matters contained in this supplement are “forward-looking statements” within the meaning of the federal securities laws and are subject to uncertainties and risks, as itemized in Item 1A included in the Annual Report on Form 10-K for the year ended December 31, 2016 and in the Quarterly Report on Form 10-Q for the three and nine month periods ended September 30, 2017. These forward-looking statements include information about possible or assumed future results of the business and our financial condition, liquidity, results of operations, plans, and objectives. They also include, among other things, statements regarding subjects that are forward-looking by their nature, such as, our business and financial strategy; our ability to obtain future financing; future acquisitions and dispositions of operating assets; future acquisitions of land; future development and redevelopment opportunities; future dispositions of land and other non-core assets; projected operating results; market and industry trends; future distributions; projected capital expenditures; interest rates; the impact of the transactions involving the Company, Parkway Properties Inc. ("Parkway"), and Parkway, Inc. ("New Parkway"); future financial and operating results, plans, objectives, expectations, and intentions; all statements that address operating performance, events, or developments that management expects or anticipates will occur in the future — including statements relating to creating value for stockholders; impact of the transactions with Parkway and New Parkway on tenants, employees, stockholders, and other constituents of the combined companies; and integrating Parkway with us.

Any forward-looking statements are based upon management's beliefs, assumptions, and expectations of our future performance, taking into account information currently available. These beliefs, assumptions, and expectations may change as a result of possible events or factors, not all of which are known. If a change occurs, our business, financial condition, liquidity, and results of operations may vary materially from those expressed in forward-looking statements. Actual results may vary from forward-looking statements due to, but not limited to, the following: the availability and terms of capital; the ability to refinance or repay indebtedness as it matures; the failure of purchase, sale, or other contracts to ultimately close; the failure to achieve anticipated benefits from acquisitions, investments or dispositions; the potential dilutive effect of common stock or operating partnership unit issuances; the availability of buyers and adequate pricing with respect to the disposition of assets; risks and uncertainties related to national and local economic conditions, the real estate industry, and the commercial real estate markets in which we operate, particularly in Atlanta, Charlotte, Austin, and Phoenix where we have high concentrations of our annualized lease revenue; changes to our strategy with regard to land and other non-core holdings that may require impairment losses to be recognized; leasing risks, including the ability to obtain new tenants or renew expiring tenants, and the ability to lease newly developed and/or recently acquired space, and the risk of declining leasing rates; the adverse change in the financial condition of one or more of our major tenants; volatility in interest rates and insurance rates; the risks associated with real estate developments (such as zoning approval, receipt of required permits, construction delays, cost overruns, and leasing risk); the loss of key personnel; the potential liability for uninsured losses, condemnation, or environmental issues; the potential liability for a failure to meet regulatory requirements; the financial condition and liquidity of, or disputes with, joint venture partners; any failure to comply with debt covenants under credit agreements; any failure to continue to qualify for taxation as a real estate investment trust and to meet regulatory requirements; risks associated with litigation resulting from the transactions with Parkway and from liabilities or contingent liabilities assumed in the transactions with Parkway; risks associated with any errors or omissions in financial or other information of Parkway that has been previously provided to the public; the ability to successfully integrate our operations and employees in connection with the transactions with Parkway and New Parkway; the ability to realize anticipated benefits and synergies of the transactions with Parkway and New Parkway; potential changes to state, local, or federal regulations applicable to our business; material changes in the dividend rates on securities or the ability to pay dividends on common shares or other securities; potential changes to the tax laws impacting REITs and real estate in general; significant costs related to uninsured losses, condemnation, or environmental issues; and those additional risks and factors discussed in reports filed with the Securities and Exchange Commission by the Company.

The words “believes,” “expects,” “anticipates,” “estimates,” “plans,” “may,” “intend,” “will,” or similar expressions are intended to identify forward-looking statements. Although we believe that our plans, intentions, and expectations reflected in any forward-looking statements are reasonable, we can give no assurance that such plans, intentions, or expectations will be achieved. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information, or otherwise, except as required under U.S. federal securities laws.

Cousins Properties Incorporated 3 Q3 2017 Supplemental Information

EARNINGS RELEASE

COUSINS PROPERTIES REPORTS THIRD QUARTER 2017 RESULTS

Highlights

• Net income available to common stockholders for the third quarter was $0.03 per share.

• Funds From Operations for the third quarter was $0.15 per share.

• Same property net operating income on a cash basis increased 2.0% during the third quarter. Legacy Parkway same property net operating income on a cash basis increased 5.9% during the third quarter. Both year-over-year comparisons were reduced by the receipt of significant property tax refunds in 2016.

• Second generation net rent per square foot on a cash basis increased 7.3% during the third quarter.

• Leased or renewed 334,905 square feet of office space during the third quarter.

• Commenced operations at Carolina Square, a $123 million mixed-use project containing 158,000 square feet of office space, 44,000 square feet of retail space and 246 apartments.

• Funded the $250 million second tranche of a previously closed $350 million private placement of senior unsecured debt. This tranche has an 8-year maturity and a fixed annual interest rate of 3.91%.

ATLANTA (October 25, 2017) - Cousins Properties Incorporated (NYSE:CUZ) today reported its results of operations for the quarter ended September 30, 2017.

“Cousins' urban office portfolio continues to generate outstanding cash flow growth driven by healthy business conditions and positive real estate fundamentals across our Sun Belt markets," said Larry Gellerstedt, chairman of the board and chief executive officer of Cousins Properties. "Our strong operating performance to date and solid balance sheet provide a stable foundation to support the execution of our development pipeline, highlighted by the successful delivery of our Carolina Square project this quarter."

Financial Results

Net income available to common stockholders was $12.1 million, or $0.03 per share, for the third quarter of 2017, compared with $11.7 million, or $0.06 per share, for the third quarter of 2016. Net income available to common stockholders was $184.9 million, or $0.45 per share, for the nine months ended September 30, 2017, compared with $42.2 million, or $0.20 per share, for the nine months ended September 30, 2016.

Funds From Operations ("FFO") was $62.3 million, or $0.15 per share, for the third quarter of 2017, compared with $46.4 million, or $0.22 per share, for the third quarter of 2016. FFO was $195.7 million, or $0.46 per share, for the nine months ended September 30, 2017, compared with $133.2 million, or $0.63 per share, for the nine months ended September 30, 2016.

2017 FFO Guidance

Based on third quarter 2017 results, the Company has raised and narrowed its full year 2017 net income guidance from $0.43 to $0.48 per share to $0.46 to $0.48 per share. The Company has also raised and narrowed its full year 2017 FFO guidance from $0.58 to $0.63 per share to $0.60 to $0.62 per share.

Cousins Properties Incorporated 4 Q3 2017 Supplemental Information

EARNINGS RELEASE

The Company leaves unchanged previously provided components of its full year 2017 net income and FFO guidance, except for the following updates:

• Fee and other income of $19 million to $21 million, up from the previous range of $18.5 million to $20.5 million, primarily due to an increase in termination fees.

• General and administrative costs of $27 million to $29 million, up from the previous range of $26 million to $28 million, primarily due to an increase in long-term incentive compensation expense driven by improved total stockholder return relative to the SNL US REIT Office index.

• Interest and other expenses of $40 million to $42 million, down from the previous range of $45 million to $47 million, primarily due to transaction timing and interest rate variances.

A reconciliation of projected net income per share to projected FFO per share is provided as follows:

	Full Year 2017 Range
	Low			High
Net income per share	$	0.46		$	0.48
Add: Real estate depreciation and amortization	0.50			0.50
Less: Gain on sale of real estate assets	(0.36		)	(0.36		)
Funds From Operations per share	$	0.60		$	0.62

This guidance is provided for information purposes based on current plans and assumptions and is subject to change.

Investor Conference Call and Webcast

The Company will conduct a conference call at 10:00 a.m. (Eastern Time) on Thursday, October 26, 2017, to discuss the results of the quarter ended September 30, 2017. The number to call for this interactive teleconference is (877) 247-1056.

A replay of the conference call will be available for 7 days by dialing(877) 344-7529 and entering the passcode 10112941. The replay can be accessed on the Company's website, www.cousinsproperties.com, through the “Cousins Properties Incorporated Third Quarter 2017 Conference Call” link on the Investor Relations page.

Acting through its operating partnership Cousins Properties, LP, Cousins Properties is a leading fully-integrated real estate investment trust (REIT) with extensive experience in development, acquisition, financing, management, and leasing. Based in Atlanta, the Company actively invests in top-tier urban office assets and opportunistic mixed-use properties in Sunbelt markets.

Cousins Properties Incorporated 5 Q3 2017 Supplemental Information

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited; in thousands, except per share amounts)

	Three Months Ended September 30,					Nine Months Ended September 30,
	2017			2016		2017			2016
Revenues:
Rental property revenues	$	109,569		$	46,575	$	336,093		$	138,382
Fee income	2,597			1,945		6,387			5,968
Other	993			153		9,593			570
	113,159			48,673		352,073			144,920
Expenses:
Rental property operating expenses	40,688			18,122		123,715			55,451
Reimbursed expenses	895			795		2,667			2,463
General and administrative expenses	7,193			4,368		21,993			17,301
Interest expense	7,587			5,754		25,851			16,562
Depreciation and amortization	47,622			16,622		152,546			49,804
Acquisition and transaction costs	(677		)	1,446		1,499			3,889
Other	423			173		1,063			681
	103,731			47,280		329,334			146,151
Gain on extinguishment of debt	429			—		2,258			—
Income (loss) from continuing operations before unconsolidated joint ventures and gain (loss) on sale of investment properties	9,857			1,393		24,997			(1,231		)
Income from unconsolidated joint ventures	2,461			1,527		43,362			5,144
Income from continuing operations before gain (loss) on sale of investment properties	12,318			2,920		68,359			3,913
Gain (loss) on sale of investment properties	(33		)	—		119,729			13,944
Income from continuing operations	12,285			2,920		188,088			17,857
Income from discontinued operations	—			8,737		—			24,361
Net income	12,285			11,657		188,088			42,218
Net income attributable to noncontrolling interests	(218		)	—		(3,181		)	—
Net income available to common stockholders	$	12,067		$	11,657	$	184,907		$	42,218
Per common share information — basic and diluted:
Income from continuing operations for common stockholders	$	0.03		$	0.01	$	0.45		$	0.08
Income from discontinued operations for common stockholders	—			0.05		—			0.12
Net income available to common stockholders	$	0.03		$	0.06	$	0.45		$	0.20
Weighted average shares — basic	419,998			210,170		414,123			210,400
Weighted average shares — diluted	427,300			210,326		421,954			210,528

Cousins Properties Incorporated 6 Q3 2017 Supplemental Information

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)

	September 30, 2017			December 31, 2016
	(unaudited)
Assets:
Real estate assets:
Operating properties, net of accumulated depreciation of $253,362 and $215,856 in 2017 and 2016, respectively	$	3,490,181		$	3,432,522
Projects under development	248,242			162,387
Land	4,221			4,221
	3,742,644			3,599,130
Cash and cash equivalents	62,167			35,687
Restricted cash	437			15,634
Notes and accounts receivable, net of allowance for doubtful accounts of $626 and $1,167 in 2017 and 2016, respectively	16,291			27,683
Deferred rents receivable	53,483			39,464
Investment in unconsolidated joint ventures	109,222			179,397
Intangible assets, net of accumulated amortization of $99,063 and $53,483 in 2017 and 2016, respectively	211,786			245,529
Other assets	28,170			29,083
Total assets	$	4,224,200		$	4,171,607
Liabilities:
Notes payable	$	1,095,177		$	1,380,920
Accounts payable and accrued expenses	160,101			109,278
Deferred income	35,918			33,304
Intangible liabilities, net of accumulated amortization of $25,709 and $12,227 in 2017 and 2016, respectively	76,299			89,781
Other liabilities	39,385			44,084
Total liabilities	1,406,880			1,657,367
Commitments and contingencies
Equity:
Stockholders' investment:
Preferred stock, $1 par value, 20,000,000 shares authorized, 6,867,357 shares issued and outstanding in 2017 and 2016	6,867			6,867
Common stock, $1 par value, 700,000,000 shares authorized, 430,349,620 and 403,746,938 shares issued in 2017 and 2016, respectively	430,350			403,747
Additional paid-in capital	3,604,269			3,407,430
Treasury stock at cost, 10,329,082 shares in 2017 and 2016	(148,373		)	(148,373		)
Distributions in excess of cumulative net income	(1,127,813		)	(1,214,114		)
Total stockholders' investment	2,765,300			2,455,557
Nonredeemable noncontrolling interests	52,020			58,683
Total equity	2,817,320			2,514,240
Total liabilities and equity	$	4,224,200		$	4,171,607

Cousins Properties Incorporated 7 Q3 2017 Supplemental Information

KEY PERFORMANCE METRICS

	2015		2016 1st		2016 2nd		2016 3rd		2016 4th		2016		2017 1st		2017 2nd		2017 3rd		2017 YTD
Property Statistics
Consolidated Operating Properties	12		11		11		11		25		25		26		26		26		26
Consolidated Rentable Square Feet (in thousands)	12,122		11,993		11,993		11,993		13,024		13,024		13,249		12,477		12,466		12,466
Unconsolidated Operating Properties	6		6		6		6		8		8		7		5		6		6
Unconsolidated Rentable Square Feet (in thousands)	3,434		3,435		3,435		3,435		3,999		3,999		3,774		2,988		3,456		3,456
Total Operating Properties	18		17		17		17		33		33		33		31		32		32
Total Rentable Square Feet (in thousands)	15,556		15,428		15,428		15,428		17,023		17,023		17,023		15,465		15,922		15,922
Office Leasing Activity (1)
Net Leased during the period (square feet in thousands)	2,972		220		402		971		761		2,354		571		341		335		1,247
Net Rent (per square foot)	$18.30		$23.55		$22.73		$23.51		$26.32		$24.52		$26.10		$28.58		$26.57		$26.91
Tenant improvements, leasing commissions, and free rent     (per square foot)	(3.64)		(6.31)		(7.08)		(6.18)		(6.08)		(6.35)		(7.44)		(7.42)		(5.84)		(7.01)
Net Effective Rent (per square foot)	$14.66		$17.24		$15.65		$17.33		$20.24		$18.17		$18.66		$21.16		$20.73		$19.90
Change in Second Generation Net Rent	36.7	%	18.9	%	17.2	%	27.9	%	18.7	%	20.0	%	15.8	%	28.5	%	16.9	%	19.5	%
Change in Cash-Basis Second Generation Net Rent	19.8	%	1.8%		4.3	%	9.1	%	14.7	%	10.3	%	3.3	%	13.5	%	7.3	%	7.4	%
Same Property Information (2)
Percent Leased (period end)	91.6	%	90.3	%	90.7	%	91.2	%	91.8	%	91.8	%	92.1	%	93.9	%	92.9	%	92.9	%
Weighted Average Occupancy	90.7	%	89.4	%	89.2	%	89.5	%	89.4	%	89.4	%	89.9	%	90.7	%	89.1	%	89.1	%
Change in Net Operating Income (over prior year period)	3.3	%	4.3	%	1.4	%	3.6	%	4.4	%	6.1	%	5.5	%	6.8	%	1.3	%	4.7	%
Change in Cash-Basis Net Operating Income (over prior year period)	7.3	%	8.6	%	3.9	%	4.3	%	7.1	%	8.4	%	5.4	%	8.6	%	2.0	%	5.7	%
Development Pipeline
Estimated Project Costs (in thousands) (3)	$261,500		$326,300		$340,200		$506,200		$512,200		$512,200		$529,200		$463,500		$402,000		$402,000
Estimated Project Costs (3) / Total Undepreciated Assets	7.6	%	9.5	%	9.6	%	13.7	%	10.5	%	10.5	%	10.6	%	9.6	%	8.1	%	8.1	%
Market Capitalization (4)
Common Stock Price (period end)	$9.43		$10.38		$10.40		$10.44		$8.51		$8.51		$8.27		$8.79		$9.34		$9.34
Common Shares/Units Outstanding (period end in thousands)	211,513		210,107		210,171		210,170		401,596		401,596		426,823		426,942		426,995		426,995
Equity Market Capitalization (in thousands)	$1,994,568		$2,180,911		$2,185,778		$2,194,175		$3,417,582		$3,417,582		$3,529,826		$3,752,820		$3,988,133		$3,988,133
Debt (in thousands)	947,017		992,241		999,999		1,112,322		1,632,270		1,632,270		1,498,044		1,205,632		1,286,252		1,286,252
Total Market Capitalization (in thousands)	$2,941,585		$3,173,152		$3,185,777		$3,306,497		$5,049,852		$5,049,852		$5,027,870		$4,958,452		$5,274,385		$5,274,385
Credit Ratios (4)
Net Debt/Total Market Capitalization	32.1	%	31.1	%	31.4	%	30.7	%	31.6	%	31.6	%	29.1	%	24.0	%	23.2	%	23.2	%
Net Debt/Total Undepreciated Assets	27.5	%	28.8	%	28.3	%	30.1	%	33.5	%	33.5	%	30.1	%	25.1	%	24.7	%	24.7	%
Net Debt/Annualized EBITDA	3.99		4.63		4.51		4.34		5.22		5.22		4.49		3.93		4.31		4.31
Fixed Charges Coverage	4.84		4.49		4.43		4.46		5.04		4.63		5.13		5.49		5.82		5.45

Cousins Properties Incorporated 8 Q3 2017 Supplemental Information

KEY PERFORMANCE METRICS

	2015		2016 1st		2016 2nd		2016 3rd		2016 4th		2016		2017 1st		2017 2nd		2017 3rd		2017 YTD
Dividend Information (4)
Common Dividend per Share (5)	$0.32		$0.08		$0.08		$0.08		$0.06		$0.30		$0.06		$0.06		$0.06		$0.18
FFO Payout Ratio	35.9	%	38.9	%	38.8	%	36.2	%	85.9	%	46.1	%	37.5	%	38.0	%	40.4	%	38.6	%
FAD Payout Ratio	61.4	%	55.9	%	61.7	%	58.3	%	61.1	%	59.3	%	58.2	%	54.4	%	69.9	%	60.2	%
Operations Ratios (4)
Annualized General and Administrative Expenses/Total Undepreciated Assets	0.49	%	0.96	%	0.53	%	0.47	%	0.68	%	0.53	%	0.50	%	0.72	%	0.58	%	0.59	%
Additional Information (4)
Straight Line Rental Revenue	$20,009		$3,595		$3,434		$3,449		$8,489		$18,967		$9,608		$7,826		$6,825		$24,259
Above and Below Market Rents Amortization	$7,981		$1,834		$1,854		$1,907		$1,502		$7,097		$1,602		$1,929		$1,852		$5,383
Second Generation Capital Expenditures	$54,214		$7,904		$13,166		$13,968		$11,838		$46,876		$10,971		$7,569		$15,949		$34,489

(1) See Office Leasing Activity on page 19 for additional detail and explanations.

(2) Same Property Information is derived from the pool of office properties, as defined, in the period originally reported. See Same Property Performance on page 17 and Non-GAAP Financial Measures - Calculations and Reconciliations on page 35 for additional information.

(3) Cousins' share of estimated project costs.

(4) See Non-GAAP Financial Measures - Calculations and Reconciliations beginning on page 31.

(5) The fourth quarter 2016 dividend was declared and paid a quarter in arrears.

Cousins Properties Incorporated 9 Q3 2017 Supplemental Information

KEY PERFORMANCE METRICS

(1) Office properties only.

Note: See additional information included herein for calculations, definitions, and reconciliations to GAAP financial measures.

Cousins Properties Incorporated 10 Q3 2017 Supplemental Information

FUNDS FROM OPERATIONS - SUMMARY (1)

	2015			2016 1st			2016 2nd			2016 3rd			2016 4th			2016			2017 1st			2017 2nd			2017 3rd			2017 YTD
Net Operating Income	$	241,232		$	59,513		$	59,008		$	61,621		$	80,139		$	260,281		$	80,167		$	80,115		$	75,815		$	236,097
Land Sales Less Cost of Sales	3,905			—			—			—			3,770			3,770			—			63			4			67
Fee Income	7,297			2,199			1,824			1,945			2,379			8,347			1,936			1,854			2,597			6,387
Other Income	2,451			1,121			280			287			3,837			5,525			6,889			5,304			1,634			13,827
Reimbursed Expenses	(3,430		)	(870		)	(798		)	(795		)	(796		)	(3,259		)	(865		)	(907		)	(895		)	(2,667		)
General and Administrative Expenses	(16,918		)	(8,243		)	(4,691		)	(4,368		)	(8,290		)	(25,592		)	(6,182		)	(8,618		)	(7,193		)	(21,993		)
Interest Expense	(38,178		)	(9,421		)	(9,360		)	(9,748		)	(12,566		)	(41,095		)	(12,066		)	(10,444		)	(9,363		)	(31,873		)
Other Expenses	(1,941		)	(465		)	(2,640		)	(2,175		)	(40,704		)	(45,984		)	(2,391		)	(542		)	196			(2,737		)
Depreciation and Amortization of Non-Real Estate Assets	(1,669		)	(377		)	(335		)	(328		)	(325		)	(1,365		)	(451		)	(465		)	(461		)	(1,377		)
FFO (1)	$	192,749		$	43,457		$	43,288		$	46,439		$	27,444		$	160,628		$	67,037		$	66,360		$	62,334		$	195,731
Weighted Average Shares - Diluted	215,979			210,974			210,362			210,326			391,413			256,023			411,186			427,180			427,300			421,954
FFO per Share (1)	$	0.89		$	0.21		$	0.21		$	0.22		$	0.07		$	0.63		$	0.16		$	0.16		$	0.15		$	0.46

(1) See Non-GAAP Financial Measures - Calculations and Reconciliations beginning on page 31.

Cousins Properties Incorporated 11 Q3 2017 Supplemental Information

FUNDS FROM OPERATIONS - DETAIL (1)

	2015		2016 1st		2016 2nd		2016 3rd		2016 4th		2016		2017 1st		2017 2nd		2017 3rd			2017 YTD
Net Operating Income
Consolidated Properties
Hearst Tower	$	—	$	—	$	—	$	—	$	5,957	$	5,957	$	6,356	$	6,370	$	6,302		$	19,028
Hayden Ferry (2)	—		—		—		—		3,881		3,881		5,209		5,307		5,466			15,982
Northpark (2)	22,400		5,607		5,097		5,599		5,841		22,144		5,410		5,130		4,945			15,485
Corporate Center (2)	—		—		—		—		5,005		5,005		4,761		5,374		5,308			15,443
Fifth Third Center	14,956		4,238		4,349		4,451		4,463		17,501		4,842		4,681		4,772			14,295
Promenade	13,985		3,740		3,419		3,839		3,557		14,555		4,173		4,407		4,184			12,764
San Jacinto Center	—		—		—		—		3,456		3,456		4,038		4,207		3,918			12,163
One Eleven Congress	—		—		—		—		3,256		3,256		3,713		3,735		4,172			11,620
Colorado Tower	6,768		2,724		3,064		3,221		3,399		12,408		3,383		3,352		3,344			10,079
One Buckhead Plaza	—		—		—		—		2,817		2,817		3,097		2,806		3,071			8,974
3344 Peachtree	—		—		—		—		3,505		3,505		3,235		2,884		2,705			8,824
816 Congress Avenue	8,526		2,468		2,555		2,514		2,363		9,900		2,694		2,641		2,766			8,101
NASCAR Plaza	—		—		—		—		2,507		2,507		2,477		2,394		2,609			7,480
3350 Peachtree	—		—		—		—		2,006		2,006		2,264		2,288		2,153			6,705
Tempe Gateway	—		—		—		—		1,966		1,966		2,008		2,136		1,964			6,108
3348 Peachtree	—		—		—		—		1,541		1,541		1,491		1,491		1,657			4,639
Bank of America Center	—		—		—		—		1,451		1,451		1,507		1,324		1,255			4,086
Two Buckhead Plaza	—		—		—		—		1,369		1,369		1,321		1,337		1,318			3,976
The Pointe	—		—		—		—		1,227		1,227		1,146		1,146		1,069			3,361
One Orlando Centre	—		—		—		—		795		795		1,277		968		973			3,218
Citrus Center	—		—		—		—		1,019		1,019		1,006		1,025		1,128			3,159
Meridian Mark Plaza	3,777		908		857		954		955		3,674		989		997		979			2,965
Harborview Plaza	—		—		—		—		898		898		930		931		1,035			2,896
111 West Rio	—		—		—		—		—		—		—		1,396		1,236			2,632
Research Park V	—		—		144		288		412		844		359		916		874			2,149
8000 Avalon	—		—		—		—		—		—		—		—		80			80
Other (3)	43,287		7,864		7,443		7,587		6,328		29,222		3,305		3,263		(402		)	6,166
Subtotal - Consolidated	113,699		27,549		26,928		28,453		69,974		152,904		70,991		72,506		68,881			212,378
Unconsolidated Properties (4)
Terminus 100	7,268		1,872		1,978		1,899		1,837		7,586		1,912		1,906		1,829			5,647
Terminus 200	6,069		1,658		1,770		1,678		1,648		6,754		1,798		1,749		1,769			5,316
Gateway Village (2)(5)	1,208		536		451		460		1,003		2,450		1,751		1,756		1,805			5,312
Emory University Hospital Midtown Medical Office Tower	3,974		987		1,000		975		1,008		3,970		989		948		961			2,898
Courvoisier Centre (2)	—		—		—		—		410		410		462		387		525			1,374
Carolina Square	—		—		—		—		—		—		—		—		47			47
Other (3)	5,816		1,593		1,755		1,748		2,520		7,616		2,264		863		(2		)	3,125
Subtotal - Unconsolidated	24,335		6,646		6,954		6,760		8,426		28,786		9,176		7,609		6,934			23,719
Discontinued Operations (6)	103,198		25,318		25,126		26,408		1,739		78,591		—		—		—			—
Total Net Operating Income (1)	241,232		59,513		59,008		61,621		80,139		260,281		80,167		80,115		75,815			236,097
Sales Less Cost of Sales
Land Sales Less Cost of Sales - Consolidated	1,625		—		—		—		3,580		3,580		—		63		4			67
Land Sales Less Cost of Sales - Unconsolidated (4)	2,280		—		—		—		190		190		—		—		—			—
Total Sales Less Cost of Sales	3,905		—		—		—		3,770		3,770		—		63		4			67

Cousins Properties Incorporated 12 Q3 2017 Supplemental Information

FUNDS FROM OPERATIONS - DETAIL (1)

	2015		2016 1st		2016 2nd		2016 3rd		2016 4th		2016		2017 1st		2017 2nd		2017 3rd		2017 YTD
Fee Income
Management Fees (7)	5,188		1,325		1,263		1,253		1,317		5,158		1,402		1,492		1,458		4,352
Development Fees	1,778		608		486		549		634		2,277		432		318		1,062		1,812
Leasing & Other Fees	331		266		75		143		428		912		102		44		77		223
Total Fee Income	7,297		2,199		1,824		1,945		2,379		8,347		1,936		1,854		2,597		6,387
Other Income
Termination Fees	398		—		—		—		122		122		5,238		2,913		734		8,885
Gain on Extinguishment of Debt	—		—		—		—		—		—		—		1,829		429		2,258
Interest and Other Income	460		390		27		153		358		928		188		262		258		708
Termination Fees - Unconsolidated (4)	419		—		—		—		3,000		3,000		959		195		132		1,286
Loss on Extinguishment of Debt - Unconsolidated (4)	—		—		—		—		(5,180	)	(5,180	)	—		—		—		—
Interest and Other Income - Unconsolidated (4)	747		546		151		134		357		1,188		504		105		81		690
Termination Fees - Discontinued Operations (6)	450		186		102		—		—		288		—		—		—		—
Interest and Other Income - Discontinued Operations (6)	(23	)	(1	)	—		—		—		(1	)	—		—		—		—
Total Other Income	2,451		1,121		280		287		(1,343	)	345		6,889		5,304		1,634		13,827
Total Fee and Other Income	9,748		3,320		2,104		2,232		1,036		8,692		8,825		7,158		4,231		20,214
Reimbursed Expenses	(3,430	)	(870	)	(798	)	(795	)	(796	)	(3,259	)	(865	)	(907	)	(895	)	(2,667	)
General and Administrative Expenses	(16,918	)	(8,243	)	(4,691	)	(4,368	)	(8,290	)	(25,592	)	(6,182	)	(8,618	)	(7,193	)	(21,993	)
Interest Expense
Consolidated Debt
Term Loan, Unsecured	—		—		—		—		(386	)	(386	)	(1,288	)	(1,564	)	(1,655	)	(4,507	)
Fifth Third Center	—		—		—		(427	)	(1,275	)	(1,702	)	(1,272	)	(1,266	)	(1,260	)	(3,798	)
Promenade	(4,734	)	(1,165	)	(1,157	)	(1,150	)	(1,142	)	(4,614	)	(1,134	)	(1,127	)	(1,119	)	(3,380	)
Colorado Tower	—		—		—		(353	)	(1,059	)	(1,412	)	(1,059	)	(1,059	)	(1,059	)	(3,177	)
Credit Facility, Unsecured	(4,089	)	(832	)	(1,053	)	(870	)	(1,159	)	(3,914	)	(1,035	)	(1,153	)	(444	)	(2,632	)
816 Congress Avenue	(3,269	)	(817	)	(817	)	(817	)	(817	)	(3,268	)	(814	)	(810	)	(806	)	(2,430	)
Senior Notes, Unsecured ($250M)	—		—		—		—		—		—		—		—		(2,353	)	(2,353	)
Senior Notes, Unsecured ($100M)	—		—		—		—		—		—		—		(876	)	(1,025	)	(1,901	)
Meridian Mark Plaza	(1,538	)	(381	)	(379	)	(377	)	(375	)	(1,512	)	(373	)	(372	)	(370	)	(1,115	)
The Pointe	—		—		—		—		(171	)	(171	)	(176	)	(178	)	(177	)	(531	)
Other (3)	(12,684	)	(2,987	)	(2,979	)	(2,990	)	(5,413	)	(14,369	)	(4,180	)	(2,336	)	(20	)	(6,536	)
Capitalized	3,577		742		1,016		1,230		1,709		4,697		1,590		2,218		2,701		6,509
Subtotal - Consolidated	(22,737	)	(5,440	)	(5,369	)	(5,754	)	(10,088	)	(26,651	)	(9,741	)	(8,523	)	(7,587	)	(25,851	)

Cousins Properties Incorporated 13 Q3 2017 Supplemental Information

FUNDS FROM OPERATIONS - DETAIL (1)

	2015			2016 1st			2016 2nd			2016 3rd			2016 4th			2016			2017 1st			2017 2nd			2017 3rd			2017 YTD
Unconsolidated Debt (4)
Terminus 100	(3,436		)	(848		)	(844		)	(840		)	(836		)	(3,368		)	(831		)	(827		)	(824		)	(2,482		)
Terminus 200	(1,560		)	(390		)	(389		)	(387		)	(385		)	(1,551		)	(383		)	(382		)	(380		)	(1,145		)
Emory University Hospital Midtown Medical Office Tower	(1,333		)	(330		)	(329		)	(327		)	(325		)	(1,311		)	(324		)	(322		)	(320		)	(966		)
Courvoisier Centre	—			—			—			—			(239		)	(239		)	(252		)	(172		)	(225		)	(649		)
Carolina Square	—			—			—			—			—			—			—			—			(27		)	(27		)
Other (3)	(1,126		)	(439		)	(464		)	(484		)	(567		)	(1,954		)	(535		)	(218		)	—			(753		)
Subtotal - Unconsolidated	(7,455		)	(2,007		)	(2,026		)	(2,038		)	(2,352		)	(8,423		)	(2,325		)	(1,921		)	(1,776		)	(6,022		)
Discontinued Operations (6)	(7,986		)	(1,974		)	(1,965		)	(1,956		)	(126		)	(6,021		)	—			—			—			—
Total Interest Expense	(38,178		)	(9,421		)	(9,360		)	(9,748		)	(12,566		)	(41,095		)	(12,066		)	(10,444		)	(9,363		)	(31,873		)
Other Expenses
Transaction Costs - Merger	—			(19		)	(2,424		)	(1,446		)	(20,633		)	(24,522		)	(1,930		)	(246		)	677			(1,499		)
Property Taxes and Other Holding Costs	(828		)	(89		)	(98		)	(95		)	(158		)	(440		)	(304		)	(140		)	(139		)	(583		)
Predevelopment & Other	(522		)	(108		)	(118		)	(140		)	(577		)	(943		)	(129		)	(156		)	(265		)	(550		)
Severance	(181		)	(249		)	—			—			—			(249		)	(28		)	—			(73		)	(101		)
Partners' share of FFO in consolidated joint ventures	(111		)	—			—			—			(3,775		)	(3,775		)	—			—			(4		)	(4		)
Transaction Costs - Spin-off	—			—			—			(494		)	(5,855		)	(6,349		)	—			—			—			—
Impairment Loss	—			—			—			—			(4,526		)	(4,526		)	—			—			—			—
Acquisition Costs	(299		)	—			—			—			—			—			—			—			—			—
Total Other Expenses	(1,941		)	(465		)	(2,640		)	(2,175		)	(35,524		)	(40,804		)	(2,391		)	(542		)	196			(2,737		)
Depreciation and Amortization of Non-Real Estate Assets
Consolidated	(1,621		)	(377		)	(335		)	(328		)	(325		)	(1,365		)	(451		)	(465		)	(461		)	(1,377		)
Unconsolidated (4)	(48		)	—			—			—			—			—			—			—			—			—
Total Depreciation and Amortization of Non-Real Estate Assets	(1,669		)	(377		)	(335		)	(328		)	(325		)	(1,365		)	(451		)	(465		)	(461		)	(1,377		)
FFO (1)	$	192,749		$	43,457		$	43,288		$	46,439		$	27,444		$	160,628		$	67,037		$	66,360		$	62,334		$	195,731
Weighted Average Shares - Diluted	215,979			210,974			210,362			210,326			391,413			256,023			411,186			427,180			427,300			421,954
FFO per Share (1)	$	0.89		$	0.21		$	0.21		$	0.22		$	0.07		$	0.63		$	0.16		$	0.16		$	0.15		$	0.46

Note: Amounts may differ slightly from other schedules contained herein due to rounding.

(1) See Non-GAAP Financial Measures - Calculations and Reconciliations beginning on page 31.

(2) Contains multiple buildings that are grouped together for reporting purposes.

(3) Represents properties sold and loans repaid prior to September 30, 2017 that are not considered discontinued operations.

(4) Unconsolidated amounts include amounts recorded in unconsolidated joint ventures for the respective category multiplied by the Company's ownership interest. The Company does not control the operations of the unconsolidated joint ventures, but

      believes including these amounts in the categories indicated is meaningful to investors and analysts.

(5) Through December 1, 2016, the Company received an 11.46% current return on its $11.1 million investment in Gateway Village and, when certain other revenue criteria were met, received additional returns. The Company recognized these amounts as

      NOI from this venture. After December 1, 2016, net income and cash flows were allocated 50% to each joint venture member.

(6) Primarily represents Greenway Plaza and Post Oak Central.

(7) Management Fees include reimbursement of expenses that are included in the "Reimbursed Expenses" line item.

Cousins Properties Incorporated 14 Q3 2017 Supplemental Information

PORTFOLIO STATISTICS

	Office Properties	Rentable Square Feet	Financial Statement Presentation	Company's Ownership Interest	End of Period Leased 3Q17	End of Period Leased 2Q17	Weighted Average Occupancy 3Q17	Weighted Average Occupancy 2Q17	% of Total Net Operating Income (1)	Property Level Debt ($000) (2)
	Northpark (3)	1,528,000	Consolidated	100%	88.1%	91.5%	78.7%	83.7%	6.5%	$	—
	Promenade	777,000	Consolidated	100%	94.1%	94.0%	94.2%	93.9%	5.5%	102,814
	One Buckhead Plaza	461,000	Consolidated	100%	89.5%	90.1%	90.4%	92.8%	4.0%	—
	3344 Peachtree	484,000	Consolidated	100%	91.7%	90.6%	89.8%	83.6%	3.6%	—
	3350 Peachtree	413,000	Consolidated	100%	93.2%	92.9%	93.1%	92.9%	2.8%	—
	Terminus 100	660,000	Unconsolidated	50%	89.9%	89.9%	89.9%	88.8%	2.4%	62,262
	Terminus 200	566,000	Unconsolidated	50%	98.2%	96.7%	94.0%	95.8%	2.3%	39,837
	3348 Peachtree	258,000	Consolidated	100%	89.7%	89.7%	90.0%	90.4%	2.2%	—
	Two Buckhead Plaza	210,000	Consolidated	100%	85.1%	84.8%	82.5%	83.2%	1.7%	—
	Meridian Mark Plaza	160,000	Consolidated	100%	100.0%	100.0%	100.0%	100.0%	1.3%	24,087
	Emory University Hospital Midtown Medical Office Tower	358,000	Unconsolidated	50%	99.5%	100.0%	96.3%	95.9%	1.3%	35,710
	8000 Avalon	224,000	Consolidated	90%	93.9%	73.1%	4.8%	0.8%	—	—
	ATLANTA	6,099,000			91.4%	91.4%	84.8%	85.7%	33.6%	264,710
	Hearst Tower	966,000	Consolidated	100%	98.7%	98.7%	98.6%	98.6%	8.3%	—
	Fifth Third Center	698,000	Consolidated	100%	96.7%	96.7%	95.9%	96.7%	6.3%	146,707
	NASCAR Plaza	394,000	Consolidated	100%	98.7%	98.7%	98.6%	98.2%	3.4%	—
	Gateway Village (3)	1,061,000	Unconsolidated	50%	99.4%	99.4%	99.4%	99.4%	2.4%	—
	CHARLOTTE	3,119,000			98.3%	98.3%	98.0%	98.2%	20.4%	146,707
	One Eleven Congress	519,000	Consolidated	100%	88.1%	89.5%	84.4%	83.8%	5.5%	—
	San Jacinto Center	395,000	Consolidated	100%	98.9%	99.2%	99.2%	99.7%	5.1%	—
	Colorado Tower	373,000	Consolidated	100%	100.0%	100.0%	100.0%	100.0%	4.4%	119,141
	816 Congress	435,000	Consolidated	100%	95.2%	94.2%	94.6%	92.3%	3.6%	83,119
	Research Park V	173,000	Consolidated	100%	97.1%	97.1%	85.7%	85.7%	1.1%	—
	AUSTIN	1,895,000			95.1%	95.4%	93.0%	92.5%	19.7%	202,260
	Corporate Center (3)	1,224,000	Consolidated	100%	96.5%	95.2%	86.9%	84.4%	7.0%	—
	The Pointe	253,000	Consolidated	100%	97.6%	92.7%	94.7%	90.5%	1.4%	22,890
	Harborview Plaza	205,000	Consolidated	100%	98.0%	98.0%	98.0%	97.6%	1.4%	—
	TAMPA	1,682,000			96.9%	95.2%	89.4%	86.9%	9.8%	22,890
	Hayden Ferry (3)	789,000	Consolidated	100%	93.0%	95.2%	92.9%	94.1%	7.2%	—
	Tempe Gateway	264,000	Consolidated	100%	98.5%	100.0%	97.3%	98.4%	2.6%	—
	111 West Rio	225,000	Consolidated	100%	100.0%	100.0%	100.0%	100.0%	1.6%	—
	PHOENIX	1,278,000			95.4%	97.1%	95.0%	96.0%	11.4%	—
See next page for remainder of chart.

Cousins Properties Incorporated 15 Q3 2017 Supplemental Information

PORTFOLIO STATISTICS

	Office Properties (Continued)	Rentable Square Feet	Financial Statement Presentation	Company's Ownership Interest	End of Period Leased 3Q17	End of Period Leased 2Q17	Weighted Average Occupancy 3Q17	Weighted Average Occupancy 2Q17	% of Total Net Operating Income (1)	Property Level Debt ($000) (2)
	Bank of America Center	421,000	Consolidated	100%	83.2%	84.2%	83.6%	84.2%	1.6%	—
	Citrus Center	261,000	Consolidated	100%	93.2%	93.0%	91.9%	92.0%	1.5%	—
	One Orlando Centre	356,000	Consolidated	100%	78.7%	78.3%	77.6%	82.6%	1.3%	—
	ORLANDO	1,038,000			84.2%	84.4%	83.6%	85.6%	4.4%	—
	Courvoisier Centre (3)	343,000	Unconsolidated	20%	84.6%	84.0%	81.6%	83.6%	0.6%	22,176
	MIAMI	343,000			84.6%	84.0%	81.6%	83.6%	0.6%	22,176
	Carolina Square Office (4)	158,000	Unconsolidated	50%	74.3%	74.3%	—%	—%	—%	10,452
	CHAPEL HILL	158,000			74.3%	74.3%	—%	—%	—%	10,452
	TOTAL OFFICE	15,612,000			93.5%	93.6%	89.3%	89.5%	99.9%	$	669,195
	Other Properties
	Carolina Square Retail (4)	44,000	Unconsolidated	50%	81.5%	61.0%	41.3%	—%	0.1%	2,929
	Carolina Square Apartments (246 Units) (4)	266,000	Unconsolidated	50%	87.0%	80.0%	55.0%	—%	—%	17,709
	TOTAL OTHER	310,000			86.2%	77.3%	53.1%	—%	0.1%	$	20,638
	TOTAL	15,922,000							100.0%	$	689,833
(1)	Represents the Company's share of net operating income for the three months ended September 30, 2017.
(2)	Represents the Company's share of property specific mortgage debt as of September 30, 2017.
(3)	Contains multiple buildings that are grouped together for reporting purposes.
(4)	The Company's share of Carolina Square debt has been allocated to office, retail, and apartments based on their relative square footage.

Cousins Properties Incorporated 16 Q3 2017 Supplemental Information

SAME PROPERTY PERFORMANCE (1)

	COUSINS PROPERTIES INCORPORATED
	Net Operating Income ($ in thousands)
	Three Months Ended
	September 30, 2017			September 30, 2016			3Q17 vs. 3Q16 % Change
Property Revenues (2)	$	35,691		$	33,404		6.8	%
Property Operating Expenses (2)	13,486			11,494			17.3	%	(5)
Property Net Operating Income	$	22,205		$	21,910		1.3	%
Cash Basis Property Revenues (3)	$	34,183		$	31,785		7.5	%
Cash Basis Property Operating Expenses (4)	13,498			11,508			17.3	%	(5)
Cash Basis Property Net Operating Income	$	20,685		$	20,277		2.0	%
End of Period Leased	92.9		%	91.6		%
Weighted Average Occupancy	89.1		%	89.1		%
	Nine Months Ended
	September 30, 2017			September 30, 2016			% Change
Property Revenues (2)	$	106,918		$	100,608		6.3	%
Property Operating Expenses (2)	39,449			36,194			9.0	%
Property Net Operating Income	$	67,469		$	64,414		4.7	%
Cash Basis Property Revenues (3)	$	101,450		$	94,869		6.9	%
Cash Basis Property Operating Expenses (4)	39,483			36,230			9.0	%
Cash Basis Property Net Operating Income	$	61,967		$	58,639		5.7	%

(1)	Same Properties include those office properties that were operational and stabilized on January 1, 2016, excluding properties subsequently sold. See Non-GAAP Financial Measures - Calculation and Reconciliations. Properties included in this reporting period are as follows:
	Northpark	Emory University Hospital Midtown Medical Office Tower	Meridian Mark Plaza
	Promenade	Terminus 100	Terminus 200
	816 Congress	Fifth Third Center
(2)	Property Revenues and Expenses include results for the Company and its share of unconsolidated joint ventures. Net operating income for unconsolidated joint ventures is calculated as property revenues less property expenses at the joint ventures multiplied by the Company's ownership interest. The Company does not control the operations of the unconsolidated joint ventures, but believes that including these amounts with consolidated net operating income is meaningful to investors and analysts.
(3)	Cash Basis Same Property Revenues include that of the Company and its share of unconsolidated joint ventures. It represents Property Revenues, excluding straight-line rents, amortization of lease inducements, and amortization of acquired above and below market rents.
(4)	Cash Basis Same Property Operating Expenses include that of the Company and its share of unconsolidated joint ventures. It represents Property Operating Expenses, excluding straight-line ground rent expense and amortization of above and below market ground rent expense.
(5)	The increase in Property Operating Expense and Cash Basis Property Operating Expense is attributable to unusually low property tax expense in 2016 due to the receipt of refunds from the successful appeal of 2015 property tax assessments on several of the Company's properties.

Cousins Properties Incorporated 17 Q3 2017 Supplemental Information

SAME PROPERTY PERFORMANCE (1)

	LEGACY PARKWAY PROPERTIES
	Net Operating Income ($ in thousands)
	Three Months Ended
	September 30, 2017			September 30, 2016			3Q17 vs. 3Q16 % Change
Cash Basis Property Revenues (2)	$	64,396		$	57,572		11.9	%
Cash Basis Property Operating Expenses (3)	25,103			20,479			22.6	%	(5)
Cash Basis Property Net Operating Income	$	39,293		$	37,093		5.9	%
End of Period Leased	93.2		%	94.6		%
Weighted Average Occupancy	91.1		%	92.3		%
	Nine Months Ended
	September 30, 2017			September 30, 2016			3Q17 vs. 3Q16 % Change
Cash Basis Property Revenues (2)	$	188,655		$	170,947		10.4	%
Cash Basis Property Operating Expenses (3)	74,086			66,443			11.5	%
Cash Basis Property Net Operating Income	$	114,569		$	104,504		9.6	%

(1)	Same Properties include those office properties that were operational and stabilized on January 1, 2016, excluding properties subsequently sold. Properties included in this reporting period are as follows:
	3344 Peachtree	Harborview Plaza	One Orlando Centre
	3348 Peachtree	Hayden Ferry (4)	San Jacinto Center
	3350 Peachtree	Hearst Tower	Tempe Gateway
	Bank of America Center	NASCAR Plaza	The Pointe
	Citrus Center	One Buckhead Plaza	Two Buckhead Plaza
	Corporate Center	One Eleven Congress
(2)	Cash Basis Same Property Revenues include that of the Company and its share of unconsolidated joint ventures. It represents Property Revenues, excluding straight-line rents, amortization of lease inducements, and amortization of acquired above and below market rents.
(3)	Cash Basis Same Property Operating Expenses include that of the Company and its share of unconsolidated joint ventures. It represents Property Operating Expenses, excluding straight-line ground rent expense and amortization of above and below market ground rent expense.
(4)	Hayden Ferry Building III commenced operations in November 2015 but was not stabilized as of January 1, 2016. Therefore, it is excluded from the Same Property pool.
(5)	The increase in Cash Basis Property Operating Expense is attributable to unusually low property tax expense in 2016 due to the receipt of refunds from the successful appeal of 2015 property tax assessments on several of the Company's properties.

Cousins Properties Incorporated 18 Q3 2017 Supplemental Information

OFFICE LEASING ACTIVITY(1)

	Three Months Ended September 30, 2017												Nine Months Ended September 30, 2017
	New			Renewal			Expansion			Total			New			Renewal			Expansion			Total
Gross leased (square feet)										421,787												1,452,617
Less: Leases one year or less, amenity leases, percentage rent leases, storage leases, intercompany leases, and license agreements										(86,882)												(205,960)
Net leased (square feet)	98,502			160,487			75,916			334,905			665,996			416,031			164,630			1,246,657
Number of transactions	9			17			8			34			47			50			15			112
Lease term (years) (2)	7.8			6.8			7.7			7.3			9.4			5.5			6.4			7.7
Net rent (per square foot) (3)	$	27.99		$	24.34		$	29.42		$	26.57		$	26.64		$	26.68		$	28.57		$	26.91
Free rent (per square foot)	(0.74		)	(0.57		)	(1.51		)	(0.83		)	(1.15		)	(0.84		)	(1.02		)	(1.03		)
Tenant Improvements and Commissions (per square foot)	(6.98		)	(3.72		)	(5.16		)	(5.01		)	(6.98		)	(4.21		)	(6.36		)	(5.98		)
Net effective rent (per square foot)	$	20.27		$	20.05		$	22.75		$	20.73		$	18.51		$	21.63		$	21.19		$	19.90
Second generation leased square feet (4)										260,842												774,060
Increase in second generation net rent (2)(3)(4)										16.9		%										19.5		%
Increase in cash basis second generation net rent (2)(4)(5)										7.3		%										7.4		%
(1) Excludes apartment and retail leasing at mixed-use projects.
(2) Weighted average.
(3) Represents straight-lined net rent per square foot (operating expenses deducted from gross leases) over the lease term.
(4) Excludes leases executed for spaces that were vacant upon acquisition, new leases in development properties, and leases for spaces that have been vacant for one year or more.
(5) Represents increase in net rent at the end of term paid by the prior tenant compared to net rent at beginning of term paid by the current tenant. For early renewals, represents increase in net rent at the end of the term of the original lease compared to net rent at the beginning of the extended term of the lease.

Cousins Properties Incorporated 19 Q3 2017 Supplemental Information

OFFICE LEASE EXPIRATIONS

Lease Expirations by Year (1)

Year of Expiration	Square Feet Expiring	% of Leased Space		Annual Contractual Rents ($000's) (2)		% of Total Annual Contractual Rents		Annual Contractual Rent/Sq. Ft. (2)
2017	225,559	1.7	%	$	5,272	1.3	%	$	23.37
2018	856,616	6.6	%	24,359		6.0	%	28.44
2019	1,111,639	8.6	%	33,139		8.1	%	29.81
2020	981,897	7.6	%	30,349		7.4	%	30.91
2021	1,478,016	11.4	%	45,741		11.2	%	30.95
2022	1,852,393	14.3	%	54,785		13.4	%	29.58
2023	1,086,899	8.4	%	36,994		9.1	%	34.04
2024	965,287	7.5	%	34,612		8.5	%	35.86
2025	1,094,955	8.5	%	37,595		9.2	%	34.34
2026 & Thereafter	3,295,925	25.4	%	105,798		25.8	%	32.10
Total	12,949,186	100.0	%	$	408,644	100.0	%	$	31.56

Lease Expirations Greater than 100,000 Square Feet Through Year End 2020

Expiration Date	Tenant	Market	Building	Square Feet Expiring
January 2019	National Union Fire Insurance Company (dba AIG)	Atlanta	Northpark	105,362

(1) Company's share.

(2) Annual Contractual Rent shown is the rate in the year of expiration. It includes the minimum contractual rent paid by the tenant which may or may not include a base year of operating expenses depending upon the terms of the lease.

Cousins Properties Incorporated 20 Q3 2017 Supplemental Information

OFFICE LEASE EXPIRATIONS

(1) Company's share

Cousins Properties Incorporated 21 Q3 2017 Supplemental Information

TOP 20 OFFICE TENANTS

	Tenant (1)	Number of Buildings Occupied	Number of Markets Occupied	Company's Share of Square Footage	Company's Share of Annualized Base Rent (2)		Percentage of Total Company's Share of Annualized Base Rent	Weighted Average Remaining Lease Term (Years)
1	Bank of America, NA	4	2	1,139,724	$	19,866,884	5.8%	7
2	Wells Fargo Bank, NA	6	5	318,160	9,214,518		2.7%	5
3	Blue Cross Blue Shield of Georgia, Inc.	1	1	227,592	6,136,052		1.8%	3
4	McGuirewoods, LLP	3	3	198,648	5,921,920		1.7%	9
5	ADP, LLC	1	1	225,000	5,400,000		1.6%	10
6	Smith, Gambrell & Russell, LLP	1	1	159,136	5,059,025		1.5%	3
7	OSI Restaurant Partners, LLC (dba Outback Steakhouse)	1	1	167,723	4,886,131		1.4%	7
8	NASCAR Media Group, LLC	1	1	139,461	4,796,073		1.4%	3
9	Hearst Communications, Inc.	1	1	137,724	4,269,444		1.2%	12
10	Regus Equity Business Centers, LLC	7	5	142,183	4,194,212		1.2%	3
11	Parsley Energy, LP	1	1	135,107	4,116,710		1.2%	7
12	Board of Regents of the University System of Georgia (dba Georgia State University)	1	1	135,124	3,991,563		1.2%	6
13	K & L Gates, LLP	1	1	110,914	3,838,935		1.1%	10
14	Amazon	3	2	107,788	3,535,653		1.0%	6
15	Fifth Third Bank	2	2	120,436	3,458,125		1.0%	4
16	Carlton Fields Jorden Burt, PA	1	1	83,798	3,351,082		1.0%	14
17	SVB Financial Group (dba Silicon Valley Bank)	1	1	100,532	3,043,323		0.9%	6
18	National Union Fire Insurance Company (dba AIG)	1	1	105,362	3,037,233		0.9%	1
19	US Bank, NA	2	2	89,363	2,776,764		0.8%	8
20	Weinberg, Wheeler, Hudgins, Gunn & Dial, LLC	2	2	69,418	2,681,424		0.8%	4
	Grand Total			3,913,193	$	103,575,071	30.2%	6
(1)	In some cases, the actual tenant may be an affiliate of the entity shown.
(2)	Annualized Base Rent represents the annualized minimum rent paid by the tenant as of the date of this report. If the tenant is in a free rent period as of the date of this report, Annualized Base Rent represents the annualized minimum contractual rent the tenant will pay in the first month it is required to pay rent which may or may not include a base year of operating expenses depending upon the terms of the lease.
Note:	This schedule includes tenants whose leases have commenced and/or who have taken occupancy. Leases that have been signed but have not commenced are excluded from this schedule.

Cousins Properties Incorporated 22 Q3 2017 Supplemental Information

TENANT INDUSTRY DIVERSIFICATION

(1) Represents Company's share of total revenues.

Cousins Properties Incorporated 23 Q3 2017 Supplemental Information

INVESTMENT ACTIVITY

Completed Property Acquisitions

Property	Type	Metropolitan Area	Company's Ownership Interest	Timing	Square Feet		Gross Purchase Price ($ in thousands)
2017
111 West Rio (1)	Office	Phoenix	100.0%	1Q	225,000		$	19,600
2016
Parkway Properties	Office	Various	Various	4Q	8,819,000		(2		)
Cousins Fund II, L.P. (3)	Office	Various	100.0%	4Q	(3	)	279,100
2014
Fifth Third Center	Office	Charlotte	100.0%	3Q	698,000		215,000
Northpark	Office	Atlanta	100.0%	4Q	1,528,000		348,000
2013
Post Oak Central	Office	Houston	100.0%	1Q	1,280,000		230,900
Terminus 200	Office	Atlanta	50.0%	1Q	566,000		164,000
816 Congress	Office	Austin	100.0%	2Q	435,000		102,400
Greenway Plaza	Office	Houston	100.0%	3Q	4,348,000		950,000
777 Main	Office	Fort Worth	100.0%	3Q	980,000		160,000
2012
2100 Ross	Office	Dallas	100.0%	3Q	844,000		59,200
					19,723,000		$	2,528,200

Completed Property Developments

Project	Type	Metropolitan Area	Company's Ownership Interest	Timing	Square Feet		Total Project Cost ($ in thousands)
2017
Carolina Square	Mixed	Chapel Hill	50.0%	3Q	468,000	(4)	$	123,000
8000 Avalon	Office	Atlanta	90.0%	2Q	224,000		73,000
2015
Colorado Tower	Office	Austin	100.0%	1Q	373,000		126,100
Emory Point - Phase II	Mixed	Atlanta	75.0%	3Q	302,000		75,400
Research Park V	Office	Austin	100.0%	4Q	173,000		45,000
2013
Emory Point - Phase I	Mixed	Atlanta	75.0%	4Q	484,000		102,300
2012
Mahan Village	Retail	Tallahassee	50.5%	4Q	147,000		25,800
					2,171,000		$	570,600

Cousins Properties Incorporated 24 Q3 2017 Supplemental Information

INVESTMENT ACTIVITY

Completed Property Dispositions

Property	Type	Metropolitan Area	Company's Ownership Interest	Timing	Square Feet	Gross Sales Price ($ in thousands)
2017
Emory Point I and II	Mixed	Atlanta	75.0%	2Q	786,000	$	199,000
American Cancer Society Center	Office	Atlanta	100.0%	2Q	996,000	166,000
2016
100 North Point Center East	Office	Atlanta	100.0%	1Q	129,000	22,000
Post Oak Central and Greenway Plaza	Office	Houston	100.0%	4Q	5,628,000	(2		)
Two Liberty Place	Office	Philadelphia	100.0%	4Q	941,000	219,000
191 Peachtree	Office	Atlanta	100.0%	4Q	1,225,000	267,500
Lincoln Place	Office	Miami	100.0%	4Q	140,000	80,000
The Forum	Office	Atlanta	100.0%	4Q	220,000	70,000
2015
2100 Ross	Office	Dallas	100.0%	3Q	844,000	131,000
200, 333, and 555 North Point Center East	Office	Atlanta	100.0%	4Q	411,000	70,300
The Points at Waterview	Office	Dallas	100.0%	4Q	203,000	26,800
2014
Lakeshore and University Park Place	Office	Birmingham	100.0%	3Q	320,000	44,700
Mahan Village	Retail	Florida	50.5%	4Q	147,000	29,500
Cousins Watkins LLC	Retail	Other	50.5%	4Q	339,000	50,000
777 Main	Office	Fort Worth	100.0%	4Q	980,000	167,000
2013
Terminus 100	Office	Atlanta	100.0%	1Q	656,000	209,200
Tiffany Springs MarketCenter	Retail	Kansas City	88.5%	3Q	238,000	53,500
The Avenue Murfreesboro	Retail	Nashville	50.0%	3Q	752,000	164,000
CPV Two LLC and CPV Five LLC	Retail	Other	10.3%	3Q	2,113,000	522,300
Inhibitex	Office	Atlanta	100.0%	4Q	51,000	8,300
2012
The Avenue Collierville	Retail	Memphis	100.0%	2Q	511,000	55,000
Galleria 75	Office	Atlanta	100.0%	2Q	111,000	9,200
Ten Peachtree Place	Office	Atlanta	50.0%	2Q	260,000	45,300
The Avenue Webb Gin	Retail	Atlanta	100.0%	4Q	322,000	59,600
The Avenue Forsyth	Retail	Atlanta	88.5%	4Q	524,000	119,000
Cosmopolitan Center	Office	Atlanta	100.0%	4Q	51,000	7,000
Palisades West	Office	Austin	50.0%	4Q	373,000	64,800
Presbyterian Medical Plaza	Office	Charlotte	11.5%	4Q	69,000	4,500
					19,340,000	$	2,864,500

(1) The Company acquired a 74.6% interest in 111 West Rio as part of the Parkway merger, and in the first quarter of 2017, purchased the remaining 25.4% interest from American Airlines.

(2) This transaction was part of the Parkway Merger. See further information in note 3 to the financial statements included in the Company's filing on Form 10-K for the year ended December

31, 2016, note 3 of the Form 10-Q for the quarter ended September 30, 2017, and reports filed with the SEC by the Company, Parkway, and New Parkway.

(3) Purchased the outside interest (approximately 70%) in a consolidated partnership for $279.1 million; this included cash from the sale of Two Liberty Place in Philadelphia as well as the

Hayden Ferry buildings in Tempe and 3344 Peachtree in Atlanta.

(4) Carolina Square is comprised of 202,000 square feet of office and retail space and 246 apartments.

Cousins Properties Incorporated 25 Q3 2017 Supplemental Information

DEVELOPMENT PIPELINE (1)

Project	Type	Metropolitan Area	Company's Ownership Interest		Project Start Date	Number of Square Feet /Apartment Units	Estimated Project Cost (2) ($ in thousands)		Company's Share of Estimated Project Costs		Project Cost Incurred to Date ($ in thousands)		Company's Share of Project Costs Incurred to Date		Percent Leased		Initial Occupancy (3)	Estimated Stabilization (4)
864 Spring Street (NCR Phase I)	Office	Atlanta, GA	100	%	3Q15	502,000	219,000		219,000		198,650		198,650		100	%	1Q18	1Q18
858 Spring Street (NCR Phase II)	Office	Atlanta, GA	100	%	4Q16	260,000	119,000		119,000		49,592		49,592		100	%	4Q18	4Q18
Dimensional Place	Office	Charlotte, NC	50	%	4Q16		94,000		47,000		36,943		18,472
Office						266,000									100	%	4Q18	4Q18
Retail						16,000									—	%	4Q18	4Q18
120 West Trinity	Mixed	Atlanta, GA	20	%	1Q17		85,000		17,000		13,286		2,657
Office						33,000									—	%	1Q19	1Q20
Retail						19,000									—	%	1Q19	1Q20
Apartments						330									—	%	1Q19	1Q20
Total							$	517,000	$	402,000	$	298,471	$	269,371

(1)	This schedule shows projects currently under active development and/or projects with a contractual obligation through the substantial completion of construction. Amounts included in the estimated project cost column represent the estimated costs of the project through stabilization. Significant estimation is required to derive these costs, and the final costs may differ from these estimates. The projected stabilization dates are also estimates and are subject to change as the project proceeds through the development process.
(2)	Represents 100% of the estimated project cost.
(3)	Represents the quarter in which the Company estimates the first tenant will occupy space.
(4)	Stabilization represents the earlier of the quarter in which the Company estimates it will achieve 90% economic occupancy or one year from initial occupancy.

Cousins Properties Incorporated 26 Q3 2017 Supplemental Information

LAND INVENTORY

	Metropolitan Area	Type	Company's Ownership Interest	Total Developable Land (Acres)		Company's Share
Wildwood Office Park	Atlanta	Commercial	50%	22
North Point	Atlanta	Commercial	100%	12
The Avenue Forsyth-Adjacent Land	Atlanta	Commercial	100%	10
10000 Avalon	Atlanta	Commercial	75%	3
Georgia				47
Padre Island	Corpus Christi	Residential	50%	15
Victory Center	Dallas	Commercial	75%	3
Texas				18
Corporate Center	Tampa	Commercial	100%	7
Florida				7
Total Land Held (Acres)				72		52
Total Land Held (Cost Basis)				$	47,902	$	23,147

Cousins Properties Incorporated 27 Q3 2017 Supplemental Information

DEBT SCHEDULE

				Company's Share of Debt Maturities and Principal Payments
Description (Interest Rate Base, if not fixed)	Company's Ownership Interest	Rate at End of Quarter	Maturity Date	2017			2018			2019			2020			2021			Thereafter			Total Principal			Deferred Loan Costs			Above/Below Market Value		Total
Consolidated Debt
Floating Rate
Term Loan, Unsecured (LIBOR + 1.20%-1.70%) (1)	100%	2.43%	12/2/21	$	—		$	—		$	—		$	—		$	250,000		$	—		$	250,000		$	(1,640	)	$	—	$	248,360
Credit Facility, Unsecured (LIBOR + 1.10%-1.45%) (2)	100%	2.33%	5/28/19	—			—			—			—			—			—			—			—			—		—
Total Floating Rate Debt				—			—			—			—			250,000			—			250,000			(1,640		)	—		248,360
Fixed Rate
Senior Notes, Unsecured	100%	3.91%	7/6/25	—			—			—			—			—			250,000			250,000			(1,416		)	—		248,584
Fifth Third Center	100%	3.37%	10/1/26	749			3,061			3,166			3,274			3,386			133,670			147,306			(599		)	—		146,707
Colorado Tower	100%	3.45%	9/1/26	—			573			2,343			2,425			2,510			112,149			120,000			(859		)	—		119,141
Promenade	100%	4.27%	10/1/22	759			3,116			3,252			3,394			3,541			89,051			103,113			(299		)	—		102,814
Senior Notes, Unsecured	100%	4.09%	7/6/27	—			—			—			—			—			100,000			100,000			(525		)	—		99,475
816 Congress	100%	3.75%	11/1/24	397			1,628			1,690			1,754			1,821			76,412			83,702			(583		)	—		83,119
Meridian Mark Plaza	100%	6.00%	8/1/20	124			514			546			22,978			—			—			24,162			(75		)	—		24,087
The Pointe	100%	4.01%	2/10/19	111			456			22,053			—			—			—			22,620			—			270		22,890
Total Fixed Rate Debt				2,140			9,348			33,050			33,825			11,258			761,282			850,903			(4,356		)	270		846,817
Total Consolidated Debt				$	2,140		$	9,348		$	33,050		$	33,825		$	261,258		$	761,282		$	1,100,903		$	(5,996	)	$	270	$	1,095,177
Unconsolidated Debt
Floating Rate
Carolina Square (LIBOR + 1.90%) (3)	50%	3.13%	5/1/18	—			31,090			—			—			—			—			31,090			—			—		31,090
Total Floating Rate Debt				—			31,090			—			—			—			—			31,090			—			—		31,090
																			.
Fixed Rate
Terminus 100	50%	5.25%	1/1/23	343			1,418			1,494			1,575			1,659			55,840			62,329			(67		)	—		62,262
Terminus 200	50%	3.79%	1/1/23	195			800			831			863			896			36,281			39,866			(29		)	—		39,837
Emory University Hospital Midtown Medical Office Tower	50%	3.50%	6/1/23	192			785			814			842			872			32,340			35,845			(135		)	—		35,710
Courvoisier Centre	20%	4.60%	3/1/26	—			—			—			—			—			21,300			21,300			—			876		22,176
Total Fixed Rate Debt				730			3,003			3,139			3,280			3,427			145,761			159,340			(231		)	876		159,985
Total Unconsolidated Debt				730			34,093			3,139			3,280			3,427			145,761			190,430			(231		)	876		191,075
Total Debt				$	2,870		$	43,441		$	36,189		$	37,105		$	264,685		$	907,043		$	1,291,333		$	(6,227	)	$	1,146	$	1,286,252
Total Maturities (4)				$	—		$	31,090		$	22,018		$	22,644		$	250,000		$	864,110		$	1,189,862
% of Maturities				—		%	2		%	2		%	2		%	21		%	73		%	100		%

Cousins Properties Incorporated 28 Q3 2017 Supplemental Information

DEBT SCHEDULE

Floating and Fixed Rate Debt Analysis

	Total Debt ($)		Total Debt (%)		Weighted Average Interest Rate		Weighted Average Maturity (Yrs.)
Floating Rate Debt	$	281,090	22	%	2.51	%	3.8
Fixed Rate Debt	1,010,243		78	%	3.95	%	7.4
Total Debt	$	1,291,333	100	%	3.63	%	6.6

(1) The spread over LIBOR at September 30, 2017 was 1.20%.

(2) Total borrowing capacity of the Credit Facility as of September 30, 2017 was $500 million. The spread over LIBOR at September 30, 2017 was 1.10%.

(3) The Company's share of the total borrowing capacity of the facility is $39.9 million.

(4) Maturities include lump sum principal payments due at the maturity date. Maturities do not include scheduled principal payments due prior to the maturity date.

Cousins Properties Incorporated 29 Q3 2017 Supplemental Information

DEBT SCHEDULE

(1) See note 3 on Page 30.

Cousins Properties Incorporated 30 Q3 2017 Supplemental Information

NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS

	2015		2016 1st		2016 2nd		2016 3rd		2016 4th		2016		2017 1st		2017 2nd		2017 3rd		2017 YTD
Income from Discontinued Operations
Rental Property Revenues	176,828		43,123		44,281		46,046		3,477		136,927		—		—		—		—
Rental Property Operating Expenses	(73,630	)	(17,805	)	(19,155	)	(19,638	)	(1,738	)	(58,336	)	—		—		—		—
Net Operating Income	103,198		25,318		25,126		26,408		1,739		78,591		—		—		—		—
Termination Fees	450		186		102		—		—		288		—		—		—		—
Interest and Other Expense	(8,009	)	(1,975	)	(1,965	)	(1,956	)	(126	)	(6,022	)	—		—		—		—
Transaction Costs	—		—		—		(494	)	(5,855	)	(6,349	)	—		—		—		—
FFO from Discontinued Operations	95,639		23,529		23,263		23,958		(4,242	)	66,508		—		—		—		—
Depreciation and Amortization of Real Estate	(63,791	)	(15,428	)	(15,740	)	(15,221	)	(956	)	(47,345	)	—		—		—		—
Income (Loss) from Discontinued Operations	31,848		8,101		7,523		8,737		(5,198	)	19,163		—		—		—		—
FFO and EBITDA
Net income available to common stockholders	125,518		22,796		7,765		11,657		36,892		79,109		4,751		168,089		12,067		184,907
Depreciation and amortization of real estate assets:
Consolidated properties	70,003		16,164		16,306		16,293		47,819		96,583		54,433		49,575		47,161		151,169
Discontinued properties	63,791		15,428		15,740		15,221		956		47,345		—		—		—		—
Share of unconsolidated joint ventures	11,645		3,259		3,231		3,268		4,146		13,904		4,195		3,478		2,862		10,535
Partners' share of real estate depreciation	—		—		—		—		(3,564	)	(3,564	)	—		—		(4	)	(4	)
(Gain) loss on sale of depreciated properties:
Consolidated properties	(78,759	)	(14,190	)	246		—		(59,589	)	(73,533	)	18		(119,767	)	36		(119,713	)
Share of unconsolidated joint ventures	—		—		—		—		—		—		3,539		(37,871	)	—		(34,332	)
Discontinued properties	551		—		—		—		—		—		—		—		—		—
Non-controlling interest related to unit holders	—		—		—		—		784		784		101		2,856		212		3,169
FFO	192,749		43,457		43,288		46,439		27,444		160,628		67,037		66,360		62,334		195,731
Interest Expense	38,178		9,421		9,359		9,748		12,566		41,094		12,066		10,444		9,363		31,873
Non-Real Estate Depreciation and Amortization	1,669		377		335		328		325		1,365		451		465		461		1,377
Acquisition and Merger Costs	299		19		2,424		1,940		26,488		30,871		1,930		246		(677	)	1,499
(Gain)/Loss on Extinguishment of Debt	—		—		—		—		5,180		5,180		—		(1,829	)	(429	)	(2,258	)
Impairment Loss	—		—		—		—		4,526		4,526		—		—		—		—
EBITDA (1)	232,895		53,274		55,406		58,455		76,529		243,664		81,484		75,686		71,052		228,222
Income (Loss) from Unconsolidated Joint Ventures
Net Operating Income
Office Properties	18,501		5,050		5,213		5,013		6,123		21,400		6,909		6,750		6,890		20,549
Other Properties	5,834		1,596		1,741		1,747		2,302		7,386		2,267		859		44		3,170
Net Operating Income	24,335		6,646		6,954		6,760		8,425		28,785		9,176		7,609		6,934		23,719
Sales Less Cost of Sales	2,280		—		—		—		190		190		—		—		—		—
Termination Fees	419		—		—		—		3,000		3,000		959		195		132		1,286
Interest Expense	(7,455	)	(2,007	)	(2,026	)	(2,038	)	(2,352	)	(8,423	)	(2,325	)	(1,922	)	(1,776	)	(6,023	)
Other Income/(Expense)	368		454		87		72		303		916		505		45		33		583
Funds from Operations - Unconsolidated Joint Ventures	19,947		5,093		5,015		4,794		9,566		24,468		8,315		5,927		5,323		19,565

Cousins Properties Incorporated 31 Q3 2017 Supplemental Information

NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS

	2015		2016 1st		2016 2nd		2016 3rd		2016 4th		2016		2017 1st		2017 2nd		2017 3rd		2017 YTD
Gain (Loss) on Sale of Depreciated Investment Properties, net	—		—		—		—		—		—		(3,539	)	37,871		—		34,332
Depreciation and Amortization of Real Estate	(11,645	)	(3,259	)	(3,231	)	(3,268	)	(4,147	)	(13,905	)	(4,195	)	(3,478	)	(2,862	)	(10,535	)
Net Income from Unconsolidated Joint Ventures	8,302		1,834		1,784		1,526		5,419		10,563		581		40,320		2,461		43,362
Market Capitalization
Common Stock price at Period End	9.43		10.38		10.40		10.44		8.51		8.51		8.27		8.79		9.34		9.34
Number of Common Shares/Units Outstanding at Period End	211,513		210,107		210,171		210,170		401,596		401,596		426,823		426,942		426,995		426,995
Common Stock Capitalization	1,994,568		2,180,911		2,185,778		2,194,175		3,417,582		3,417,582		3,529,826		3,752,820		3,988,133		3,988,133
Debt	721,293		767,811		777,485		888,378		1,380,920		1,380,920		1,240,728		1,019,619		1,095,177		1,095,177
Share of Unconsolidated Debt	225,724		224,430		222,514		223,944		251,350		251,350		257,316		186,013		191,075		191,075
Debt (1)	947,017		992,241		999,999		1,112,322		1,632,270		1,632,270		1,498,044		1,205,632		1,286,252		1,286,252
Total Market Capitalization	2,941,585		3,173,152		3,185,777		3,306,497		5,049,852		5,049,852		5,027,870		4,958,452		5,274,385		5,274,385
Credit Ratios
Net Debt (Debt (1) minus Cash)	945,014		986,777		999,053		1,015,081		1,596,583		1,596,583		1,462,289		1,189,212		1,224,085		1,224,085
Total Market Capitalization	2,941,585		3,173,152		3,185,777		3,306,497		5,049,852		5,049,852		5,027,870		4,958,452		5,274,385		5,274,385
Net Debt / Total Market Capitalization	32.1	%	31.1	%	31.4	%	30.7	%	31.6	%	31.6	%	29.1	%	24.0	%	23.2	%	23.2	%
Total Assets - Consolidated	2,597,803		2,610,408		2,622,995		2,760,732		4,171,607		4,171,607		4,206,289		4,136,046		4,224,200		4,224,200
Accumulated Depreciation - Consolidated	463,008		486,747		519,075		539,719		269,339		269,339		326,039		303,266		352,425		352,425
Undepreciated Assets - Unconsolidated (1)	486,941		460,516		504,408		507,611		604,236		604,236		578,207		467,992		483,299		483,299
Less: Investment in Unconsolidated Joint Ventures	(102,577	)	(110,138	)	(114,455	)	(116,933	)	(179,397	)	(179,397	)	(128,589	)	(101,532	)	(109,222	)	(109,222	)
Total Undepreciated Assets (1)	3,445,175		3,447,533		3,532,023		3,691,129		4,865,785		4,865,785		4,981,946		4,805,772		4,950,702		4,950,702
Net Debt (Debt (1) minus Cash)	945,014		986,777		999,053		1,015,081		1,596,583		1,596,583		1,462,289		1,189,212		1,224,085		1,224,085
Undepreciated Assets (1)	3,445,175		3,447,533		3,532,023		3,691,129		4,865,785		4,865,785		4,981,946		4,805,772		4,950,702		4,950,702
Net Debt / Total Undepreciated Assets (1)	27.4	%	28.6	%	28.3	%	27.5	%	32.8	%	32.8	%	29.4	%	24.7	%	24.7	%	24.7	%
Coverage Ratios (1)
Interest Expense	38,178		9,421		9,359		9,748		12,566		41,094		12,066		10,444		9,363		31,873
Scheduled Principal Payments	9,892		2,444		3,143		3,344		2,632		11,563		3,810		3,334		2,846		9,990
Fixed Charges	48,070		11,865		12,502		13,092		15,198		52,657		15,876		13,778		12,209		41,863
EBITDA	232,895		53,274		55,406		58,455		76,529		243,664		81,484		75,686		71,052		228,222
Fixed Charges Coverage Ratio (1)	4.84		4.49		4.43		4.46		5.04		4.63		5.13		5.49		5.82		5.45
Net Debt (Debt (1) minus Cash)	945,014		986,777		999,053		1,015,081		1,596,583		1,596,583		1,462,289		1,189,212		1,224,085		1,224,085
Annualized EBITDA (2)	236,754		213,096		221,624		233,820		306,116		306,116		325,936		302,744		284,208		284,208
Net Debt / Annualized EBITDA (2)	3.99		4.63		4.51		4.34		5.22		5.22		4.49		3.93		4.31		4.31

Cousins Properties Incorporated 32 Q3 2017 Supplemental Information

NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS

	2015		2016 1st		2016 2nd		2016 3rd		2016 4th		2016		2017 1st		2017 2nd		2017 3rd		2017 YTD
Dividend Information
Common Dividends (3)	69,196		16,918		16,810		16,821		23,577		74,126		25,161		25,212		25,201		75,574
FFO	192,749		43,457		43,288		46,439		27,444		160,628		67,037		66,360		62,334		195,731
FFO Payout Ratio	35.9	%	38.9	%	38.8	%	36.2	%	85.9	%	46.1	%	37.5	%	38.0	%	40.4	%	38.6	%
FFO	192,749		43,457		43,288		46,439		27,444		160,628		67,037		66,360		62,334		195,731
Straight Line Rental Revenue	(20,009	)	(3,595	)	(3,434	)	(3,449	)	(8,489	)	(18,967	)	(9,608	)	(7,826	)	(6,825	)	(24,259	)
Above and Below Market Rents	(7,981	)	(1,834	)	(1,854	)	(1,907	)	(1,502	)	(7,097	)	(1,602	)	(1,929	)	(1,852	)	(5,383	)
Amortization of Above and Below Market Debt	—		—		—		—		(2,999	)	(2,999	)	(3,190	)	(646	)	(51	)	(3,887	)
Lease Inducements	1,807		441		499		373		209		1,522		133		103		114		350
Ground Lease Straight Line Rent	88		(2	)	(2	)	(2	)	110		104		110		110		110		330
Above and Below Market Rents Ground Rent	(55	)	(14	)	(14	)	(14	)	39		(3	)	40		40		40		120
Acquisition and Merger Costs	299		19		2,424		1,940		26,488		30,871		1,930		246		(677	)	1,499
(Gain) loss on Extinguishment of Debt	—		—		—		—		5,180		5,180		—		(1,829	)	(429	)	(2,258	)
Impairment Loss	—		—		—		—		4,526		4,526		—		—		—		—
Second Generation CAPEX	(54,214	)	(7,904	)	(13,166	)	(13,968	)	(11,838	)	(46,876	)	(10,971	)	(7,569	)	(15,949	)	(34,489	)
Deferred Income - Tenant Improvements	(48	)	(280	)	(488	)	(564	)	(594	)	(1,926	)	(625	)	(732	)	(761	)	(2,118	)
FAD (1)	112,636		30,288		27,253		28,848		38,574		124,963		43,254		46,328		36,054		125,636
Common Dividends (3)	69,196		16,918		16,810		16,821		23,577		74,126		25,161		25,212		25,201		75,574
FAD Payout Ratio (1)	61.4	%	55.9	%	61.7	%	58.3	%	61.1	%	59.3	%	58.2	%	54.4	%	69.9	%	60.2	%
Operations Ratios
Total Undepreciated Assets (1)	3,445,175		3,447,533		3,532,023		3,691,129		4,865,785		4,865,785		4,981,946		4,805,772		4,950,702		4,950,702
General and Administrative Expenses	16,918		8,242		4,691		4,368		8,290		25,591		6,182		8,618		7,193		21,993
Annualized General and Administrative Expenses (4) / Total Undepreciated Assets	0.49	%	0.96	%	0.53	%	0.47	%	0.68	%	0.53	%	0.50	%	0.72	%	0.58	%	0.59	%
2nd Generation TI & Leasing Costs & Building CAPEX
Second Generation Leasing Related Costs	46,821		4,867		10,356		7,992		10,021		33,236		10,710		7,258		15,480		33,448
Second Generation Building Improvements	7,393		3,037		2,810		5,976		1,817		13,640		261		311		469		1,041
	54,214		7,904		13,166		13,968		11,838		46,876		10,971		7,569		15,949		34,489
(1) Includes Company share of unconsolidated joint ventures. These amounts are derived from the amounts in the categories indicated that are recorded at the joint venture multiplied by the Company's ownership interest. The Company does not control the operations of the unconsolidated joint ventures, but believes that including these amounts in the categories indicated is meaningful to investors and analysts.
(2) Annualized equals quarter amount annualized.
(3) The fourth quarter 2016 dividend was declared and paid a quarter in arrears. The first and second quarter 2017 dividends were paid a quarter in arrears.
(4) Quarter amount represents quarter annualized; year-to-date represents year-to-date actual annualized.
Note: Amounts may differ slightly from other schedules contained herein due to rounding.

Cousins Properties Incorporated 33 Q3 2017 Supplemental Information

NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS

FUNDS FROM OPERATIONS

(unaudited; in thousands, except per share amounts)

	Three Months Ended September 30,					Nine Months Ended September 30,
	2017			2016		2017			2016
Net Income Available to Common Stockholders	$	12,067		$	11,657	$	184,907		$	42,218
Depreciation and amortization of real estate assets:
Consolidated properties	47,161			16,293		151,169			48,763
Discontinued properties	—			15,221		—			46,389
Share of unconsolidated joint ventures	2,862			3,268		10,535			9,758
Partners' share of real estate depreciation	(4		)	—		(4		)	—
(Gain) loss on sale of depreciated properties:
Consolidated properties	36			—		(119,713		)	(13,944		)
Share of unconsolidated joint ventures	—			—		(34,332		)	—
Non-controlling interest related to unit holders	212			—		3,169			—
Funds From Operations	$	62,334		$	46,439	$	195,731		$	133,184
Per Common Share — Diluted:
Net Income Available Available to Common Shareholders	$	0.03		$	0.06	$	0.45		$	0.20
Funds from Operations	$	0.15		$	0.22	$	0.46		$	0.63
Weighted Average Shares — Diluted	427,300			210,326		421,954			210,528

The table above shows Funds From Operations Available to Common Stockholders (“FFO”) and the related reconciliation to Net Income Available to Common Stockholders for Cousins Properties Incorporated and Subsidiaries. The Company calculated FFO in accordance with the National Association of Real Estate Investment Trusts' ("NAREIT") definition, which is net income (loss) available to common stockholders (computed in accordance with accounting principles generally accepted in the United States ("GAAP")), excluding extraordinary items, cumulative effect of change in accounting principle and gains or losses from sales of depreciable property, plus depreciation and amortization of real estate assets, impairment losses on depreciable investment property and after adjustments for unconsolidated partnerships and joint ventures to reflect FFO on the same basis.

FFO is used by industry analysts and investors as a supplemental measure of an equity REIT’s operating performance. Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values instead have historically risen or fallen with market conditions, many industry investors and analysts have considered presentation of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. Thus, NAREIT created FFO as a supplemental measure of REIT operating performance that excludes historical cost depreciation, among other items, from GAAP net income. Management believes that the use of FFO, combined with the required primary GAAP presentations, has been fundamentally beneficial, improving the understanding of operating results of REITs among the investing public and making comparisons of REIT operating results more meaningful. Company management evaluates operating performance in part based on FFO. Additionally, the Company uses FFO along with other measures, to assess performance in connection with evaluating and granting incentive compensation to its officers and other key employees.

Cousins Properties Incorporated 34 Q3 2017 Supplemental Information

NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS

	Three Months Ended						Nine Months Ended
Cousins Net Operating Income (in thousands)	September 30, 2017			September 30, 2016			September 30, 2017			September 30, 2016
Net income	$	12,285		$	11,657		$	188,088		$	42,218
Net operating income from unconsolidated joint ventures	6,934			6,760			23,719			20,359
Net operating income from discontinued operations	—			26,408			—			76,852
Fee income	(2,597		)	(1,945		)	(6,387		)	(5,968		)
Other income	(993		)	(153		)	(9,593		)	(570		)
Reimbursed expenses	895			795			2,667			2,463
General and administrative expenses	7,193			4,368			21,993			17,301
Interest expense	7,587			5,754			25,851			16,562
Depreciation and amortization	47,622			16,622			152,546			49,804
Acquisition and transaction costs	(677		)	1,446			1,499			3,889
Other expenses	423			173			1,063			681
(Gain) loss on extinguishment of debt	(429		)	—			(2,258		)	—
Income from unconsolidated joint ventures	(2,461		)	(1,527		)	(43,362		)	(5,144		)
(Gain) loss on sale of investment properties	33			—			(119,729		)	(13,944		)
Income from discontinued operations	—			(8,737		)	—			(24,361		)
Net Operating Income	$	75,815		$	61,621		$	236,097		$	180,142
Straight line rent	6,825			3,449			24,259			10,479
Non-cash income	2,496			2,097			7,148			5,613
Non-cash expense	(149		)	16			(448		)	46
Cash Basis Net Operating Income	$	66,643		$	56,059		$	205,138		$	164,004
Net Operating Income
Same Property	$	22,205		$	21,910		$	67,469		$	64,414
Non-Same Property	53,610			39,711			168,628			115,728
	$	75,815		$	61,621		$	236,097		$	180,142
Cash Basis Net Operating Income
Same Property	$	20,685		$	20,277		$	61,967		$	58,639
Non-Same Property	45,958			35,782			143,171			105,365
	$	66,643		$	56,059		$	205,138		$	164,004

Cousins Properties Incorporated 35 Q3 2017 Supplemental Information

NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS

	Three Months Ended								Nine Months Ended
Legacy Parkway Properties Net Operating Income (in thousands)	September 30, 2017				September 30, 2016				September 30, 2017				September 30, 2016
Net Operating Income	$	46,105		(1)	$	66,886		(2)	$	137,663		(1)	$	198,556		(2)
Straight line rent	(4,266		)		(8,482		)		(16,669		)		(26,302		)
Non-cash income	(1,292		)		(1,087		)		(3,726		)		(4,370		)
Non-cash expense	163				169				489				507
Other Adjustment	—				(78		)		—				(611		)
Cash Basis Net Operating Income	$	40,710			$	57,408			$	117,757			$	167,780
Cash Basis Net Operating Income
Same Property	$	39,293			$	37,093			114,569				104,504
Non-Same Property	1,417				20,315				3,188				63,276
	$	40,710			$	57,408			$	117,757			$	167,780
(1) Represents Net Operating Income of the legacy Parkway Properties now included in the Company's Net Operating Income.
(2) Represents Net Operating Income of Parkway Properties included in or derived from the Company's filing on Form 8-K dated January 4, 2017. A reconciliation of net income to Net Operating Income is as follows:
					Three Months Ended September 30, 2016								Nine Months Ended September 30, 2016
Net income					$	25,266							$	88,735
Management company income					(1,240		)						(3,936		)
Management company expense					1,116								2,979
Depreciation and amortization					37,363								117,934
General and administrative					17,890								37,153
Interest and other income					(191		)						(626		)
Equity in earnings of unconsolidated joint ventures					(255		)						(774		)
Net gains on sale of real estate					(46,085		)						(109,068		)
Interest expense					16,013								48,725
Income tax expense					398								1,285
Other					16,611								16,149
Net Operating Income					$	66,886							$	198,556

Cousins Properties Incorporated 36 Q3 2017 Supplemental Information

NON-GAAP FINANCIAL MEASURES - DISCUSSION

The Company uses non-GAAP financial measures in its filings and other public disclosures. The following is a list of non-GAAP financial measures that the Company commonly uses and a description for each measure of (1) the reasons that management believes the measure is useful to investors and (2) if material, any additional uses of the measure by management of the Company. “2^nd Generation Tenant Improvements and Leasing Costs and Building Capital Expenditures” is used in the valuation and analysis of real estate. Because the Company develops and acquires properties, in addition to operating existing properties, its property acquisition and development expenditures included in the Statements of Cash Flows includes both initial costs associated with developing and acquiring investment assets and those expenditures necessary for operating and maintaining existing properties at historic performance levels. The latter costs are referred to as second generation costs and are useful in evaluating the economic performance of the asset and in valuing the asset. Accordingly, the Company discloses the portion of its property acquisition and development expenditures that pertain to second generation space in its operating properties. The Company excludes from second generation costs amounts incurred to lease vacant space in newly acquired buildings as well as building improvements on newly acquired buildings that management identifies as necessary to bring the building to the Company's operational standards. In addition, the Company excludes leasing costs and building improvements associated with properties identified as under redevelopment or repositioning. “Cash Basis Net Operating Income” represents Net Operating Income excluding straight-line rents, amortization of lease inducements, amortization of acquired above and below market rents, and non-cash ground lease expense. “EBITDA” represents FFO plus consolidated and Company share of unconsolidated interest expense, non-real estate depreciation and amortization, income taxes, impairment losses, predevelopment charges, loss on debt extinguishment, gain on sale of third party business, participation interest income, acquisition and merger costs, and preferred stock dividends and original issuance costs. Management believes that EBITDA provides analysts and investors with appropriate information to use in various ratios that evaluate the Company's level of debt. "Funds Available for Distribution” (“FAD”) represents FFO adjusted to exclude the effect of straight-line rent and above and below market lease amortization less 2^nd Generation Tenant Improvements and Leasing Costs and Building Capital Expenditures. Management believes that FAD provides analysts and investors with information that assists in the comparability of the Company's dividend policy with other real estate companies. “FAD Before Certain Charges” represents FAD before preferred share issuance costs write off, non-depreciable impairment losses, predevelopment and other charges, loss on debt extinguishment, acquisition and merger costs, interest income and separation charges. Management believes that FAD Before Certain Charges provides analysts and investors with appropriate information related to the Company's core operations and for comparability of the results of its operations and dividend policy with other real estate companies. “Funds From Operations Available to Common Stockholders” (“FFO”) is a supplemental operating performance measure used in the real estate industry. The Company calculates FFO in accordance with the National Association of Real Estate Investment Trusts' (“NAREIT”) definition, which is net income (loss) available to common stockholders (computed in accordance with accounting principles generally accepted in the United States (“GAAP”)), excluding extraordinary items, cumulative effect of change in accounting principle and gains or losses from sales of depreciable real property, plus depreciation and amortization of real estate assets, impairment losses on depreciable investment property and after adjustments for unconsolidated partnerships and joint ventures to reflect FFO on the same basis. FFO is used by industry analysts and investors as a supplemental measure of an equity REIT's operating performance. Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values instead have historically risen or fallen with market conditions, many industry investors and analysts have considered presentation of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. Thus, NAREIT created FFO as a supplemental measure of REIT operating performance that excludes historical cost depreciation, among other items, from GAAP net income. Management believes that the use of FFO, combined with the required primary GAAP presentations, has been fundamentally beneficial, improving the understanding of operating results of REITs among the investing public and making comparisons of REIT operating results more meaningful. Company management evaluates operating performance in part based on FFO. Additionally, the Company uses FFO and FFO per share, along with other measures, as a performance measure for incentive compensation to its officers and other key employees. “FFO Before Certain Charges” represents FFO before preferred share issuance costs write off, non-depreciable impairment losses, predevelopment and other charges, loss on debt extinguishment, acquisition and merger costs, gain on sale of third party business, participation interest income and separation charges. Management believes that FFO Before Certain Charges provides analysts and investors with appropriate information related to the Company's core operations and for comparability of the results of its operations with other real estate companies. “Net Operating Income” is used by industry analysts, investors and Company management to measure operating performance of the Company's properties. Net Operating Income, which is rental property revenues less rental property operating expenses, excludes certain components from net income in order to provide results that are more closely related to a property's results of operations. Certain items, such as interest expense, while included in FFO and net income, do not affect the operating performance of a real estate asset and are often incurred at the corporate level as opposed to the property level. As a result, management uses only those income and expense items that are incurred at the property level to evaluate a property's performance. Depreciation and amortization are also excluded from Net Operating Income for the reasons described under FFO above.     “Same Property Net Operating Income” represents Net Operating Income or Cash Basis Net Operating Income for those office properties that have been fully operational in each of the comparable reporting periods. A fully operational property is one that achieved 90% economic occupancy or has been substantially complete and owned by the Company for each of the two periods presented. Same-Property Net Operating Income or Cash Basis Same Property Net Operating Income allows analysts, investors and management to analyze continuing operations and evaluate the growth trend of the Company's portfolio.

Cousins Properties Incorporated 37 Q3 2017 Supplemental Information