Alexandria Real Estate Equities, Inc. is a mission-driven life science REIT. It focuses on developing and operating collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations. The company's core business model involves creating dynamic ecosystems that enable scientific and technological innovations. Alexandria's primary revenue streams are derived from leasing these properties to a diverse tenant base, including multinational pharmaceutical companies, biotechnology firms, and research institutions. The company believes its competitive advantages are its unique focus on Class A/A+ properties in key campus locations with high barriers to entry and its broad relationships in the life science, agtech, and technology industries. Alexandria's geographic presence includes key markets such as Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.

• Employees: 568 (as of December 31, 2023)
• Geographic Footprint: North America
• Headquarters: Pasadena, California
• Founded: 1994
• Number of locations/facilities: 411 properties in North America
• Revenue: $2.8 billion (FY2023)
• Market Capitalization: $33.1 billion (as of December 31, 2023)
• Key Subsidiaries/Brands: Alexandria Real Estate Equities, Inc.

• Executive Chairman: Joel S. Marcus
• Chief Executive Officer and Chief Investment Officer: Peter M. Moglia
• Chief Financial Officer and Treasurer: Marc E. Binda
• Chief Accounting Officer: Andres R. Gavinet

Alexandria's executive and senior management teams have extensive experience in the real estate, life science, agtech, and technology industries. The executive management team averages 18 years of experience with the Company.

• Annual Revenue: $2.8 billion (FY2023)
• Net Income: $92.4 million (FY2023)
• Market Cap: $33.1 billion (as of December 31, 2023)
• Total Assets: Not explicitly stated, but an asset base in North America of 73.5 million SF
• Employees: 568 (as of December 31, 2023)
• Key Financial Highlights: Same property net operating income growth of 3.4% and 4.6% (cash basis) for the year ended December 31, 2023. Investment-grade or publicly traded large cap tenants represented 52% of total annual rental revenue as of December 31, 2023.

Alexandria develops and operates Class A/A+ properties in collaborative life science, agtech, and advanced technology mega campuses. The company's offerings include:

• Laboratory Facilities: Generic and reusable laboratory spaces designed to meet the needs of a wide range of tenants.
• Mega Campuses: Dynamic mega campuses and vibrant ecosystems that enable and inspire innovation.
• Strategic Capital: Venture capital platform providing capital to transformative life science, agrifoodtech, climate innovation, and technology companies.

Alexandria operates as one reportable segment, focusing on the development, ownership, and operation of life science, agtech, and advanced technology properties. The company does not provide a revenue breakdown by segments.

Alexandria's business strategy focuses on maximizing long-term asset value and stockholder returns through internal and external growth. Key strategic priorities include:

• Focusing on Class A/A+ properties in collaborative mega campuses in AAA innovation clusters.
• Drawing upon deep relationships to attract new tenants and source additional value-creation real estate.
• Disciplined allocation of capital to development and redevelopment projects.
• Providing strategic capital to transformative life science, agrifoodtech, climate innovation, and technology companies.
• Maximizing balance sheet liquidity and flexibility, cash flows, and cash available for distribution to stockholders.

Alexandria operates in the life science, agtech, and advanced technology real estate industry. Key market trends affecting the business include the increasing demand for collaborative research environments and the growing importance of innovation clusters. The company faces competition from other REITs, insurance companies, pension funds, private equity entities, and foreign investors. Alexandria believes it has differentiated itself through its pioneering role in the life science real estate niche and its focus on long-term relationships and value creation.

• Market Position: Preeminent and longest-tenured owner, operator, and developer in the life science real estate niche.
• Key Competitors: Other REITs, insurance companies, pension and investment funds, private equity entities, partnerships, developers, and foreign investors.
• Industry Trends: High demand for collaborative research environments, and the importance of innovation clusters.

• Operational Risks: Inability to identify and complete acquisitions, investments, or development projects; default on ground leases; higher-than-anticipated costs of maintaining properties; reliance on a limited number of vendors; and failure to maintain effective internal control over financial reporting.
• Market Risks: Limits on stock ownership; possible future sales of common stock; dependence on the health of the life science, agtech, and technology industries; market disruption and volatility; and actions or policy changes in government agencies.
• General Risks: Social, political, and economic instability; seasonal weather conditions and climate change; changes in privacy and information security laws; and system failures or security incidents through cyberattacks.