Armada Hoffler Properties, Inc. is a self managed real estate investment trust that owns, operates, and develops a diversified portfolio of retail, office, multifamily, and real estate financing assets primarily located in the Mid Atlantic and Southeastern United States. The company focuses on delivering long term, sustainable shareholder value by consistently investing in and operating the highest quality assets. It maintains a robust and resilient balance sheet and fosters a dynamic, highly skilled team.

The company generates revenue primarily through rental income from its retail, office, and multifamily properties, as well as interest income from its preferred equity investments that finance third party development projects. It also earns fees from property management and development services, although these have been deemphasized following the discontinuation of its general contracting and real estate services segment. Rental income is derived from lease agreements with tenants across its property portfolio, while interest income comes from preferred equity positions that provide mezzanine financing for new construction.

The company operates through the following segments: Retail real estate, Office real estate, Multifamily real estate, and Real estate financing. The general contracting and real estate services segment has been presented as discontinued operations for all periods shown in this filing.

• Retail real estate: The Company’s retail portfolio is concentrated in high barrier to entry markets and is anchored by credit worthy tenants, including grocery stores and big box retailers, with an occupancy level of 94.9% and GAAP basis renewal spreads of 15.3% as of December 31, 2025.

• Office real estate: The office portfolio consists primarily of Class A office space located in mixed use town centers such as the Town Center of Virginia Beach and Harbor Point in Baltimore, benefiting from the flight to quality trend with an occupancy level of 96.4% and GAAP basis renewal spreads of 9.1% as of December 31, 2025.

• Multifamily real estate: The Company owns and operates luxury apartment communities primarily within its mixed use developments, providing stable cash flows and serving as a hedge against inflation through short term leases.

• Real estate financing: This segment encompasses the Company’s preferred equity investments, providing financing for development projects that serve as a pipeline for future acquisition of stabilized assets.

Armada Hoffler Properties, Inc. competes with other developers, owners, and operators of retail, office, and multifamily properties in the same markets, many of which have greater financial resources. The company differentiates itself through a focus on high quality assets in high barrier to entry markets, an experienced management team, and a diversified portfolio that reduces reliance on any single sector. Its long standing presence in the Mid Atlantic and Southeastern regions provides advantages in sourcing and executing development opportunities, identifying and mitigating potential risks, and negotiating attractive pricing. These strengths enable the company to attract and retain credit worthy tenants and to pursue selective acquisition and disposition opportunities.

The company serves a diverse customer base that includes credit worthy retail tenants such as grocery stores and big box retailers, corporate office tenants including companies like Constellation Energy Generation, Morgan Stanley, T. Rowe Price, and The Kroger Co., and residential tenants occupying its luxury apartment communities. Notable retail tenants also include Dick's Sporting Goods, PetSmart, TJX Companies, and Amazon/Whole Foods, while key office occupiers feature Duke University, Huntington Ingalls Industries, and Georgia Tech. This mix of national and regional clients supports stable occupancy and steady rental cash flows across the portfolio.