Business Wire | Jan 19, 2021 05:09PM EST

Boston Properties Announces 2020 Tax Treatment of Its Distributions

Jan. 19, 2021

BOSTON--(BUSINESS WIRE)--Jan. 19, 2021--Boston Properties, Inc. (NYSE: BXP), the largest publicly traded owner and manager of Class A office properties in the United States, announced today the 2020 tax treatment of distributions on its common stock and 5.25% Series B Cumulative Redeemable Preferred Stock, as described below. Shareholders are encouraged to consult with their personal tax advisors as to the specific tax treatment to them of these distributions.

Common Shares (CUSIP #101121101)

Total 2020 2020 2020 2020 2020 2020 Non-Record Payment Total Distribution Taxable Qualified Short- 2020 Total Unrecaptured Section taxableDate Date Distribution Allocable to Ordinary Dividends term Capital Gain Section 1250 199A Distribution per Share 2020 Dividends (1) Capital Distribution Gain (2) Dividends (Return of Gain (1) (1) Capital)

12/31/ 1/30/ $0.980000 $0.940748 $0.610620 $0.004601 $0.002679 $0.239847 $0.029352 $0.603340 $0.0902812019 2020

3/31/ 4/30/ $0.980000 $0.980000 $0.636097 $0.004793 $0.002791 $0.249854 $0.030577 $0.628513 $0.0940492020 2020

6/30/ 7/31/ $0.980000 $0.980000 $0.636097 $0.004793 $0.002791 $0.249854 $0.030577 $0.628513 $0.0940492020 2020

9/30/ 10/30/ $0.980000 $0.980000 $0.636097 $0.004793 $0.002791 $0.249854 $0.030577 $0.628513 $0.0940492020 2020

12/31/ 1/28/ $0.980000 $0.000000 $0.000000 $0.000000 $0.000000 $0.000000 $0.000000 $0.000000 $0.0000002020 2021



$4.900000 $3.880748 $2.518911 $0.018980 $0.011052 $0.989409 $0.121083 $2.488879 $0.372428

100% 64.9079% 25.4953% 9.5968%



(1) These amounts are a subset of, and included in, the 2020 Taxable OrdinaryDividend amounts.

(2) Unrecaptured Section 1250 Gain is a subset of, and included in, the 2020Total Capital Gain Distribution amount.

The common stock distribution with a record date of December 31, 2019 is a split-year distribution with $0.940748 allocable to 2020 for federal income tax purposes. The entire common stock distribution with a record date of December 31, 2020 will be allocable to 2021 for federal income tax purposes.

Series B Preferred (CUSIP #101121408)

Total Total 2020 2020 2020 2020 2020 2020 Non-Record Payment Distribution Distribution Taxable Qualified Short- 2020 Total Unrecaptured Section taxableDate Date per Allocable to Ordinary Dividends term Capital Gain Section 1250 199A Distribution Depository 2020 Dividends (2) Capital Distribution Gain (3) Dividends (Return of Share (1) Gain (2) (2) Capital)

2/4/ 2/18/ $0.328125 $0.328125 $0.235588 $0.001775 $0.001034 $0.092537 $0.011325 $0.232779 $0.0000002020 2020

5/1/ 5/15/ $0.328125 $0.328125 $0.235588 $0.001775 $0.001034 $0.092537 $0.011325 $0.232779 $0.0000002020 2020

8/3/ 8/17/ $0.328125 $0.328125 $0.235588 $0.001775 $0.001034 $0.092537 $0.011325 $0.232779 $0.0000002020 2020

11/4/ 11/16/ $0.328125 $0.328125 $0.235588 $0.001775 $0.001034 $0.092537 $0.011325 $0.232779 $0.0000002020 2020



$1.312500 $1.312500 $0.942352 $0.007100 $0.004136 $0.370148 $0.045300 $0.931116 $0.000000

100% 71.7982% 28.2018% 0.0000%

(1) Each depositary share represents 1/100th of a share of Series B PreferredStock.

(2) These amounts are a subset of, and included in, the 2020 Taxable OrdinaryDividends amounts.

(3) Unrecaptured Section 1250 Gain is a subset of, and included in, the 2020Total Capital Gain Distribution amount.

Boston Properties (NYSE: BXP) is the largest publicly held developer and owner of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space. The Company's portfolio totals 51.2 million square feet and 196 properties, including seven properties under construction. For more information about Boston Properties, please visit our web site at www.bxp.com.

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CONTACT: AT THE COMPANY Mike LaBelle Executive Vice President Chief Financial Officer and Treasurer 617.236.3352 Michael Walsh Senior Vice President Chief Accounting Officer 617.236.3460