Properties Income-producing properties must be effectively managed and maintained to realize their full potential. B. F. Saul Company, through its subsidiary B. F. Saul Property Company, serves as manager and leasing agent for over 30 properties. Our property management operations are organized to fill the specialized needs of different income producing properties. Each property manager is a specialist, knowledgeable in operations and tenant needs. The Office and Industrial Division oversees 17 facilities totaling over 3 million square feet. The Hotel Division manages 19 properties containing over 3,400 guest rooms with extensive food, beverage and conference facilities. The Residential Division manages four apartment projects containing 814 units. We conduct operations at each property in accordance with an annual business plan – and always with an eye on maximizing revenues and minimizing costs. The plan typically includes an analysis of financial performance during the preceding year, a review of trends in local and regional markets, strategies for maintaining tenancy or increasing marketability, and both operating and capital budgets. Year after year, this updated business plan serves as the key management tool for increasing current revenues and long-term appreciation of the property. The B. F. Saul Company owns and or manages some of the finest commercial, residential and hotel properties in the country. Office Copyright B. F. Saul 2021 | 7501 Wisconsin Avenue | Suite 1500E | Bethesda, MD 20814 | (301) 986-6000 Affiliated Companies Saul Centers, Inc. | Chevy Chase Trust | ASB Capital Management | B.F. Saul Insurance | B. F. Saul Hospitality Group | B. F. Saul Residential | The Hay-Adams

Residential Since 1931, The B.F. Saul Company has been engaged in the acquisition, renovation, construction and management of residential property in the Washington Metropolitan Area. The Kennedy-Warren, which is the most famous property in the portfolio, is known for its art deco architecture and notable tenants. In 1989, Kennedy-Warren Apartment Building became a District of Columbia Historic Landmark and five years later, was added to the National Register of Historic Places. In 2004, construction of the ultra-luxury Kennedy-Warren South Wing was completed featuring “Grand Apartment” homes with unique features such as semi-private elevators entrances. In 2010, construction of Lyon Place at Clarendon Center located in Arlington, VA was complete and reached stabilization within 4 months. Lyon Place at Clarendon Center received the 2012 National Homebuilder’s Pillars Award for Best High-rise in the industry. Additional residential properties are in the pipeline for the District of Columbia and Maryland. Residential Kennedy-Warren Apts Lyon Place Park Van Ness The Waycroft Copyright B. F. Saul 2021 | 7501 Wisconsin Avenue | Suite 1500E | Bethesda, MD 20814 | (301) 986-6000 Affiliated Companies Saul Centers, Inc. | Chevy Chase Trust | ASB Capital Management | B.F. Saul Insurance | B. F. Saul Hospitality Group | B. F. Saul Residential | The Hay-Adams