Q2 2015SUPPLEMENTAL INFORMATION

1

TABLE OF CONTENTS

Key Performance Metrics	3
Funds From Operations - Summary	6
Funds From Operations - Detail	7
Portfolio Statistics	10
Same Property Performance	11
Office Leasing Activity	12
Office Lease Expirations	13
Top 20 Office Tenants	15
Tenant Industry Diversification	16
Investment Activity	17
Development Pipeline	19
Land Inventory	20
Debt Schedule	21
Joint Venture Information	23
Non-GAAP Financial Measures - Calculations and Reconciliations	24
Non-GAAP Financial Measures - Discussion	29

Certain matters discussed in this news release are “forward-looking statements” within the meaning of the federal securities laws and are subject to uncertainties and risk. These include, but are not limited to, the availability and terms of capital and financing; the ability to refinance indebtedness as it matures; the failure of purchase, sale, or other contracts to ultimately close; the failure to achieve anticipated benefits from acquisitions or dispositions; the potential dilutive effect of common stock offerings; the availability of buyers and adequate pricing with respect to the disposition of assets; risks related to the geographic concentration of our portfolio; risks and uncertainties related to national and local economic conditions, the real estate industry in general, and the commercial real estate markets in particular; changes to the Company's strategy with regard to land and other non-core holdings that 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; the adverse change in the financial condition of one or more of its major tenants; volatility in interest rates and insurance rates; the availability of sufficient investment opportunities; competition from other developers or investors; the risks associated with real estate developments and acquisitions (such as zoning approval, receipts 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 other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission, including those described in Part I, Item 1A of the Company’s Annual Report on Form 10-K/A for the year ended December 31, 2014. The words “believes,” “expects,” “anticipates,” “estimates,” ”plans,” “may,” “intend,” “will,” or similar expressions are intended to identify forward-looking statements. Although the Company believes that its plans, intentions and expectations reflected in any forward-looking statement are reasonable, the Company can give no assurance that such plans, intentions or expectations will be achieved. Such forward-looking statements are based on current expectations and speak as of the date of such statements. The Company undertakes 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 Q1 2015 Supplemental Information

KEY PERFORMANCE METRICS

	2013		2014 1st		2014 2nd		2014 3rd		2014 4th		2014		2015 1st		2015 2nd		2015 YTD
Property Statistics
Consolidated Operating Properties	14		13		13		13		12		12		13		13		13
Consolidated Rentable Square Feet (in thousands)	12,255		12,132		12,132		12,633		13,034		13,034		13,407		13,407		13,407
Unconsolidated Operating Properties	9		9		9		9		5		5		5		5		5
Unconsolidated Rentable Square Feet (in thousands)	3,468		3,468		3,468		3,468		3,129		3,129		3,129		3,129		3,129
Total Operating Properties	23		22		22		22		17		17		18		18		18
Total Rentable Square Feet (in thousands)	15,723		15,600		15,600		16,101		16,163		16,163		16,536		16,536		16,536
Office Leasing Activity (1)
Net Leased during the period (square feet in thousands)	1,256		369		317		550		637		1,874		441		521		962
Net Rent (per square foot)	$18.54		$21.05		$22.39		$22.99		$24.10		$22.88		$18.93		$23.23		$21.58
Total Leasing Costs (per square foot)	(5.25)		(5.91)		(5.02)		(6.18)		(5.54)		(5.71)		(4.62)		(6.27)		(5.58)
Net Effective Rent (per square foot)	$13.29		$15.14		$17.37		$16.81		$18.56		$17.17		$14.31		$16.96		$16.00
Change in Second Generation Net Rent	12.9	%	12.7	%	48.4	%	36.3	%	43.8	%	38.0	%	33.6	%	43.8	%	39.0	%
Change in Cash-Basis Second Generation Net Rent	(3.6	)%	(0.4	)%	33.3	%	7.6	%	27.7	%	19.7	%	8.0	%	32.8	%	20.1	%
Same Property Information (2)
Percent Leased (period end)	90.7	%	90.7	%	91.0	%	91.6	%	91.2	%	91.2	%	91.7	%	91.7	%	91.7	%
Weighted Average Occupancy	90.1	%	89.9	%	89.8	%	89.9	%	89.3	%	89.7	%	91.5	%	90.4	%	90.4	%
Change in Net Operating Income (over prior year period)	4.6	%	2.2	%	7.7	%	3.6	%	0.6	%	3.6	%	5.2	%	1.6	%	3.4	%
Change in Cash-Basis Net Operating Income (over prior year period)	3.9	%	10.2	%	15.0	%	12.8	%	11.1	%	12.3	%	15.9	%	5.2	%	10.2	%
Development Pipeline
Estimated Project Costs (in thousands) (3)	$283,600		$181,075		$181,075		$182,575		$226,575		$226,575		$100,475		$161,975		$161,975
Estimated Project Costs (3) / Total Undepreciated Assets	9.9	%	6.2	%	6.1	%	5.7	%	7.0	%	7.0	%	3.0	%	4.7	%	4.7	%
Market Capitalization (4)
Common Stock Price (period end)	$10.30		$11.47		$12.45		$11.95		$11.42		$11.42		$10.60		$10.38		$10.38
Common Shares Outstanding (period end in thousands)	189,666		198,423		198,474		216,509		216,513		216,513		216,470		216,686		216,686
Equity Market Capitalization (in thousands)	$1,953,560		$2,275,912		$2,471,001		$2,587,283		$2,472,578		$2,472,578		$2,294,582		$2,249,201		$2,249,201
Preferred Stock (in thousands)	94,775		94,775		—		—		—		—		—		—		—
Debt (in thousands)	858,583		814,016		890,093		895,618		1,007,502		1,007,502		1,067,376		1,075,013		1,075,013
Total Market Capitalization (in thousands)	$2,906,918		$3,184,703		$3,361,094		$3,482,901		$3,480,080		$3,480,080		$3,361,958		$3,324,214		$3,324,214

Cousins Properties Incorporated 3 Q2 2015 Supplemental Information

KEY PERFORMANCE METRICS

	2013		2014 1st		2014 2nd		2014 3rd		2014 4th		2014		2015 1st		2015 2nd		2015 YTD
Credit Ratios (4)
Debt/Total Market Capitalization	29.5	%	25.6	%	26.5	%	25.7	%	29.0	%	29.0	%	31.7	%	32.3	%	32.3	%
Debt/Total Undepreciated Assets	30.0	%	28.0	%	30.1	%	28.1	%	30.1	%	30.1	%	31.5	%	31.4	%	31.4	%
Fixed Charges Coverage	2.64		3.56		4.00		4.61		4.98		4.27		4.67		4.54		4.60
Debt/Annualized EBITDA	4.72		4.31		4.48		4.37		4.05		4.05		4.77		4.86		4.83
Dividend Information (4)
Common Dividend per Share	$0.18		$0.075		$0.075		$0.075		$0.075		$0.30		$0.08		$0.08		$0.16
FFO Payout Ratio	35.3	%	39.3	%	41.6	%	39.0	%	31.4	%	37.3	%	37.8	%	38.3	%	38.0	%
FAD Payout Ratio	61.6	%	61.1	%	69.4	%	68.9	%	51.1	%	61.6	%	67.8	%	71.5	%	69.6	%
Operations Ratios (4)
Annualized General and Administrative Expenses/Total Undepreciated Assets	0.77	%	0.77	%	0.78	%	0.63	%	0.42	%	0.59	%	0.41	%	0.69	%	0.55	%
Additional Information (4)
Straight Line Rental Revenue	$12,826		$7,648		$5,001		$4,169		$5,275		$22,093		$6,285		$5,786		$12,071
Above and Below Market Rents Amortization	$3,785		$1,952		$2,027		$1,933		$2,135		$8,047		$2,030		$1,973		$4,003
Second Generation Capital Expenditures	$16,414		$3,295		$7,317		$12,023		$12,419		$35,054		$12,020		$13,259		$25,279

(1) See Office Leasing Activity on page 12 herein 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 11 and Non-GAAP Financial Measures - Calculations and Reconciliations on page 24 for additional information.

(3) Cousins' share of development expenditures.

(4) See Non-GAAP Financial Measures - Calculations and Reconciliations.

Cousins Properties Incorporated 4 Q2 2015 Supplemental Information

KEY PERFORMANCE METRICS

(1) Total rentable square feet is based on the total portfolio.

(2) Office properties only.

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

Cousins Properties Incorporated 5 Q2 2015 Supplemental Information

FUNDS FROM OPERATIONS - SUMMARY

	2013 4th		2014 1st		2014 2nd		2014 3rd		2014 4th		2014		2015 1st		2015 2nd		2015 YTD
Net Operating Income
Office	122,503		47,598		48,821		52,691		57,441		206,551		56,734		59,269		116,003
Other	15,577		2,420		2,467		2,421		1,812		9,122		1,319		1,505		2,824
Total Net Operating Income	138,080		50,018		51,288		55,112		59,253		215,673		58,053		60,774		118,827
Sales Less Cost of Sales	1,464		160		1,373		82		2,295		3,910		810		(324	)	486
Fee Income	10,890		2,339		2,025		1,803		6,353		12,520		1,816		1,704		3,520
Other Income	8,693		1,943		2,484		559		415		5,401		407		238		645
Reimbursed Expenses	(5,216	)	(932	)	(988	)	(783	)	(949	)	(3,652	)	(1,111	)	(717	)	(1,828	)
General and Administrative Expenses	(21,940	)	(5,611	)	(5,756	)	(5,022	)	(3,398	)	(19,787	)	(3,493	)	(5,942	)	(9,435	)
Separation Expenses	(520	)	(84	)	—		—		(101	)	(185	)	(102	)	—		(102	)
Interest Expense	(29,672	)	(9,012	)	(8,813	)	(8,660	)	(9,989	)	(36,474	)	(9,498	)	(9,696	)	(19,194	)
Other Expenses	(11,217	)	(678	)	(917	)	(1,170	)	(2,059	)	(4,824	)	(476	)	(425	)	(901	)
Income Tax Benefit (Provision)	23		12		9		(1	)	—		20		—		—		—
Depreciation and Amortization of Non-Real Estate Assets	(787	)	(196	)	(213	)	(244	)	(260	)	(913	)	(471	)	(374	)	(845	)
Preferred Stock Dividends and Original Issuance Costs	(12,664	)	(1,777	)	(4,708	)	—		—		(6,485	)	—		—		—
FFO	77,134		36,182		35,784		41,676		51,560		165,204		45,935		45,238		91,173
Weighted Average Shares - Basic	144,255		191,739		198,440		209,839		216,511		204,216		216,568		216,630		216,599
Weighted Average Shares - Diluted	144,420		191,952		198,702		210,111		216,733		204,460		216,754		216,766		216,753
FFO per Share - Basic and Diluted	0.53		0.19		0.18		0.20		0.24		0.81		0.21		0.21		0.42

Cousins Properties Incorporated 6 Q2 2015 Supplemental Information

FUNDS FROM OPERATIONS - DETAIL

	2013		2014 1st		2014 2nd		2014 3rd		2014 4th		2014		2015 1st		2015 2nd		2015 YTD
	(in thousands, except per share amounts)
Net Operating Income
Office Consolidated Properties
Greenway Plaza	24,606		18,202		19,295		20,356		19,526		77,379		18,403		18,916		37,319
Post Oak Central	15,593		5,564		5,886		6,032		5,955		23,437		6,675		6,516		13,191
Northpark Town Center	—		—		—		—		5,794		5,794		5,825		5,651		11,476
191 Peachtree Tower	16,040		4,198		4,650		4,115		4,046		17,009		4,082		4,060		8,142
Fifth Third Center	—		—		—		2,196		3,435		5,631		3,641		3,709		7,350
Promenade	9,568		2,772		2,792		3,030		2,841		11,435		3,542		3,581		7,123
The American Cancer Society Center	11,539		2,992		3,022		3,329		3,030		12,373		3,114		3,206		6,320
2100 Ross Avenue	4,620		1,474		936		1,497		1,566		5,473		1,881		2,156		4,037
816 Congress Avenue	4,029		1,536		1,740		1,862		1,854		6,992		1,858		2,117		3,975
Colorado Tower	—		—		—		—		—		—		328		1,797		2,125
North Point Center East	5,909		1,606		1,564		1,471		1,435		6,076		1,537		1,633		3,170
Meridian Mark Plaza	4,111		908		1,008		898		914		3,728		918		954		1,872
The Points at Waterview	1,876		415		329		348		356		1,448		410		507		917
Other (2)	4,733		2,558		2,444		2,642		2,174		9,818		(111	)	(23	)	(134	)
Subtotal - Office Consolidated	102,624		42,225		43,666		47,776		52,926		186,593		52,103		54,780		106,883
Office Unconsolidated Properties
Terminus 100	6,892		1,973		1,875		1,831		1,876		7,555		1,922		1,754		3,676
Terminus 200	4,278		1,235		1,466		1,449		1,354		5,504		1,436		1,442		2,878
Emory University Hospital Midtown Medical Office Tower	3,874		998		962		1,008		992		3,960		987		996		1,983
Gateway Village (1)	1,208		302		302		302		302		1,208		302		302		604
Other	(61	)	(15	)	(12	)	(15	)	(9	)	(51	)	(5	)	(5	)	(10	)
Subtotal - Office Unconsolidated	16,191		4,493		4,593		4,575		4,515		18,176		4,642		4,489		9,131
Discontinued Operations	3,688		880		562		340		—		1,782		(11	)	—		(11	)
Total Office Net Operating Income	122,503		47,598		48,821		52,691		57,441		206,551		56,734		59,269		116,003
Other
Consolidated Properties (2)	1,293		402		407		396		178		1,383		(24	)	12		(12	)
Unconsolidated Properties
Emory Point Apartments	2,300		1,118		1,181		1,200		1,148		4,647		1,071		1,244		2,315
Emory Point Retail	1,211		321		312		257		190		1,080		281		255		536
Other (2)	8,061		567		562		569		295		1,993		(6	)	(6	)	(12	)
Subtotal - Other	11,572		2,006		2,055		2,026		1,633		7,720		1,346		1,493		2,839
Discontinued Operations	2,712		12		5		(1	)	1		19		(3	)	—		(3	)
Total Other Net Operating Income	15,577		2,420		2,467		2,421		1,812		9,122		1,319		1,505		2,824
Total Net Operating Income	138,080		50,018		51,288		55,112		59,253		215,673		58,053		60,774		118,827

Cousins Properties Incorporated 7 Q2 2015 Supplemental Information

FUNDS FROM OPERATIONS - DETAIL (continued)

FROM OPERATIONS - DETAIL

FUNDS FROM OPERATIONS - DETAIL

	2013		2014 1st		2014 2nd		2014 3rd		2014 4th		2014		2015 1st		2015 2nd		2015 YTD
	(in thousands, except per share amounts)
Sales Less Cost of Sales
Land Sales Less Cost of Sales - Consolidated	1,353		160		1,326		82		135		1,703		810		(566	)	244
Land Sales Less Cost of Sales - Unconsolidated	111		—		47		—		2,160		2,207		—		242		242
Total Sales Less Cost of Sales	1,464		160		1,373		82		2,295		3,910		810		(324	)	486
Fee Income
Development Fees	3,102		937		541		571		5,216		7,265		308		461		769
Management Fees (3)	7,223		1,315		1,446		1,203		1,118		5,082		1,503		1,184		2,687
Leasing & Other Fees	565		87		38		29		19		173		5		59		64
Total Fee Income	10,890		2,339		2,025		1,803		6,353		12,520		1,816		1,704		3,520
Other Income
Termination Fees	2,952		1,843		2,210		280		240		4,573		193		28		221
Termination Fees - Discontinued Operations	—		—		2		—		—		2		—		—		—
Interest and Other Income	5,213		72		44		116		29		261		55		22		77
Interest and Other Income - Discontinued Operations	15		—		—		8		(4	)	4		—		—		—
Other - Unconsolidated	513		28		228		155		150		561		159		188		347
Total Other Income	8,693		1,943		2,484		559		415		5,401		407		238		645
Reimbursed Expenses	(5,216	)	(932	)	(988	)	(783	)	(949	)	(3,652	)	(1,111	)	(717	)	(1,828	)
General and Administrative Expenses	(21,940	)	(5,611	)	(5,756	)	(5,022	)	(3,398	)	(19,787	)	(3,493	)	(5,942	)	(9,435	)
Separation Expenses	(520	)	(84	)	—		—		(101	)	(185	)	(102	)	—		(102	)
Interest Expense
Consolidated Debt
The American Cancer Society Center	(8,813	)	(2,158	)	(2,175	)	(2,192	)	(2,185	)	(8,710	)	(2,131	)	(2,147	)	(4,278	)
Post Oak Central	(2,618	)	(2,044	)	(2,036	)	(2,028	)	(2,019	)	(8,127	)	(2,010	)	(2,001	)	(4,011	)
Promenade	(1,568	)	(1,223	)	(1,216	)	(1,209	)	(1,202	)	(4,850	)	(1,194	)	(1,187	)	(2,381	)
Unsecured Credit Facility	(2,260	)	(575	)	(616	)	(705	)	(1,458	)	(3,354	)	(966	)	(1,072	)	(2,038	)
191 Peachtree Tower	(3,483	)	(861	)	(861	)	(861	)	(861	)	(3,444	)	(861	)	(861	)	(1,722	)
816 Congress Avenue	—		—		—		—		(709	)	(709	)	(817	)	(818	)	(1,635	)
Meridian Mark Plaza	(1,587	)	(393	)	(391	)	(390	)	(388	)	(1,562	)	(387	)	(385	)	(772	)
The Points at Waterview	(903	)	(221	)	(219	)	(217	)	(215	)	(872	)	(213	)	(211	)	(424	)
Other	(995	)	(65	)	(66	)	(65	)	(38	)	(234	)	—		—		—
Capitalized	518		373		610		850		919		2,752		903		813		1,716
Subtotal - Consolidated	(21,709	)	(7,167	)	(6,970	)	(6,817	)	(8,156	)	(29,110	)	(7,676	)	(7,869	)	(15,545	)
Unconsolidated Debt
Terminus 100	(3,193	)	(879	)	(875	)	(872	)	(868	)	(3,494	)	(865	)	(861	)	(1,726	)
Terminus 200	(1,369	)	(390	)	(390	)	(390	)	(390	)	(1,560	)	(390	)	(390	)	(780	)
Emory University Hospital Midtown Medical Office Tower	(1,358	)	(334	)	(334	)	(334	)	(334	)	(1,336	)	(334	)	(334	)	(668	)
Emory Point	(867	)	(242	)	(244	)	(247	)	(241	)	(974	)	(233	)	(242	)	(475	)
Other	(1,176	)	—		—		—		—		—		—		—		—
Subtotal - Unconsolidated	(7,963	)	(1,845	)	(1,843	)	(1,843	)	(1,833	)	(7,364	)	(1,822	)	(1,827	)	(3,649	)
Total Interest Expense	(29,672	)	(9,012	)	(8,813	)	(8,660	)	(9,989	)	(36,474	)	(9,498	)	(9,696	)	(19,194	)

Cousins Properties Incorporated 8 Q2 2015 Supplemental Information

FUNDS FROM OPERATIONS - DETAIL (continued)

FROM OPERATIONS - DETAIL

FUNDS FROM OPERATIONS - DETAIL

	2013		2014 1st		2014 2nd		2014 3rd		2014 4th		2014		2015 1st		2015 2nd		2015 YTD
	(in thousands, except per share amounts)
Other Expenses
Noncontrolling Interests	(1,671	)	(156	)	(129	)	(92	)	(47	)	(424	)	—		—		—
Property Taxes and Other Holding Costs	(1,570	)	(271	)	(276	)	(288	)	(388	)	(1,223	)	(287	)	(242	)	(529	)
Predevelopment & Other	(492	)	(229	)	(363	)	(146	)	(1,309	)	(2,047	)	(106	)	(181	)	(287	)
Acquisition and Related Costs	(7,484	)	(22	)	(149	)	(644	)	(315	)	(1,130	)	(83	)	(2	)	(85	)
Total Other Expenses	(11,217	)	(678	)	(917	)	(1,170	)	(2,059	)	(4,824	)	(476	)	(425	)	(901	)
Income Tax Provision (Benefit)	23		12		9		(1	)	—		20		—		—		—
Depreciation and Amortization of Non-Real Estate Assets
Consolidated	(753	)	(185	)	(201	)	(232	)	(249	)	(867	)	(423	)	(374	)	(797	)
Unconsolidated	(34	)	(11	)	(12	)	(12	)	(11	)	(46	)	(48	)	—		(48	)
Total Non-Real Estate Depreciation and Amoritization	(787	)	(196	)	(213	)	(244	)	(260	)	(913	)	(471	)	(374	)	(845	)
Preferred Stock Dividends and Original Issuance Costs	(12,664	)	(1,777	)	(4,708	)	—		—		(6,485	)	—		—		—
FFO	77,134		36,182		35,784		41,676		51,560		165,204		45,935		45,238		91,173
Weighted Average Shares - Basic	144,255		191,739		198,440		209,839		216,511		204,216		216,568		216,630		216,599
Weighted Average Shares - Diluted	144,420		191,952		198,702		210,111		216,733		204,460		216,754		216,766		216,753
FFO per Share - Basic and Diluted	0.53		0.19		0.18		0.20		0.24		0.81		0.21		0.21		0.42

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

(1) The Company receives an 11.46% current return on its $10.4 million investment in Gateway Village and recognizes this amount as NOI from this venture. See Joint Venture Information included herein for further details.

(2) Represents NOI for properties sold in prior periods.

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

Cousins Properties Incorporated 9 Q2 2015 Supplemental Information

PORTFOLIO STATISTICS

							Company's Share
	Property Description	Metropolitan Area	Rentable Square Feet	Financial Statement Presentation	Company's Ownership Interest		End of Period Leased 2Q15		End of Period Leased 1Q15		Weighted Average Occupancy 2Q15		Weighted Average Occupancy 1Q15		% of Total Net Operating Income (1)		Property Level Debt ($000)
	Office
	Greenway Plaza (2)	Houston	4,348,000	Consolidated	100	%	89.6	%	89.7	%	89.4	%	92.3	%	31	%	$	—
	Post Oak Central (2)	Houston	1,280,000	Consolidated	100	%	95.2	%	95.2	%	95.2	%	95.5	%	11	%	183,457
	2100 Ross Avenue	Dallas	844,000	Consolidated	100	%	86.0	%	86.0	%	85.1	%	82.8	%	4	%	—
	816 Congress	Austin	435,000	Consolidated	100	%	94.4	%	91.2	%	85.7	%	85.8	%	3	%	85,000
	Colorado Tower	Austin	373,000	Consolidated	100	%	98.4	%	94.7	%	59.7	%	18.1	%	3	%	—
	The Points at Waterview	Dallas	203,000	Consolidated	100	%	92.0	%	92.0	%	92.0	%	83.5	%	1	%	14,315
	Texas		7,483,000												53	%	282,772
	Northpark Town Center (2)	Atlanta	1,528,000	Consolidated	100	%	88.0	%	93.5	%	91.1	%	88.9	%	9	%	—
	191 Peachtree Tower	Atlanta	1,225,000	Consolidated	100	%	93.8	%	91.0	%	86.2	%	87.2	%	7	%	100,000
	Promenade	Atlanta	777,000	Consolidated	100	%	93.5	%	94.2	%	89.9	%	87.8	%	6	%	109,588
	The American Cancer Society Center	Atlanta	996,000	Consolidated	100	%	84.0	%	84.4	%	84.4	%	84.4	%	5	%	130,215
	Terminus 100	Atlanta	656,000	Unconsolidated	50	%	90.0	%	93.6	%	90.0	%	95.5	%	3	%	65,222
	North Point Center East (2)	Atlanta	540,000	Consolidated	100	%	95.8	%	97.2	%	93.3	%	93.8	%	3	%	—
	Terminus 200	Atlanta	566,000	Unconsolidated	50	%	92.2	%	92.2	%	87.8	%	87.8	%	2	%	41,000
	Meridian Mark Plaza	Atlanta	160,000	Consolidated	100	%	97.8	%	99.0	%	98.2	%	98.3	%	2	%	25,197
	Emory University Hospital Midtown Medical Office Tower	Atlanta	358,000	Unconsolidated	50	%	100.0	%	100.0	%	100.0	%	99.2	%	2	%	37,500
	Georgia		6,806,000												39	%	508,722
	Fifth Third Center	Charlotte	698,000	Consolidated	100	%	85.1	%	85.1	%	82.7	%	80.5	%	6	%	—
	Gateway Village	Charlotte	1,065,000	Unconsolidated	50	%	100.0	%	100.0	%	100.0	%	100.0	%	—	%	13,338
	North Carolina		1,763,000												6	%	13,338
	Total Office Properties		16,052,000												98	%	$	804,832
	Other
	Emory Point Apartments (Phase I) (3)	Atlanta	404,000	Unconsolidated	75	%	92.6	%	93.9	%	91.9	%	92.1	%	2	%	36,328
	Emory Point Retail (Phase I)	Atlanta	80,000	Unconsolidated	75	%	82.0	%	84.5	%	82.0	%	87.3	%	—	%	7,194
	Total Other		484,000												2	%	$	43,522
	Total Portfolio		16,536,000												100	%	$	848,354
(1)	Net Operating Income represents the Company's share of rental property revenues less rental property operating expenses. Calculation is based on amounts for the three months ended June 30, 2015.
(2)	Contains multiple buildings that are grouped together for reporting purposes.
(3)	This property consists of 443 units.

Cousins Properties Incorporated 10 Q2 2015 Supplemental Information

SAME PROPERTY PERFORMANCE (1)

	Net Operating Income ($ in thousands)
	Three Months Ended
	June 30, 2015			June 30, 2014			March 31, 2015			2Q15 vs. 2Q14 % Change		2Q15 vs. 1Q15% Change
Property Revenues (2)	$	76,692		$	73,848		$	73,549		3.9	%	4.3	%
Property Operating Expenses (2)	32,825			30,692			30,222			6.9	%	8.6	%
Property Net Operating Income	$	43,867		$	43,156		$	43,327		1.6	%	1.2	%
% of Total Property Net Operating Income	72.2		%	84.2		%	74.6		%
Cash Basis Property Revenues (3)	$	72,772		$	68,657		$	69,035		6.0	%	5.4	%
Cash Basis Property Operating Expenses (4)	32,828			30,695			30,227			6.9	%	8.6	%
Cash Basis Property Net Operating Income	$	39,944		$	37,962		$	38,808		5.2	%	2.9	%
% of Total Property Cash Basis Net Operating Income	74.6		%	87.5		%	77.1		%
End of Period Leased	91.7		%	93.5		%	91.7		%
Weighted Average Occupancy	90.4		%	90.5		%	91.5		%

	Six Months Ended
	June 30, 2015		June 30, 2014		% Change
Property Revenues (2)	$	150,243	$	145,407	3.3	%
Property Operating Expenses (2)	63,047		61,089		3.2	%
Property Net Operating Income	$	87,196	$	84,318	3.4	%
Cash Basis Property Revenues (3)	$	141,808	$	132,548	7.0	%
Cash Basis Property Operating Expenses (4)	63,052		61,094		3.2	%
Cash Basis Property Net Operating Income	$	78,756	$	71,454	10.2	%

(1)	Same Properties include those office properties that were operational and stabilized on January 1, 2014, excluding properties subsequently sold. Properties included in this reporting period are as follows:
	Greenway Plaza The American Cancer Society Center Terminus 200
	Post Oak Central Promenade Meridian Mark Plaza
	The Points at Waterview Terminus 100 Emory University Hospital Midtown Medical Office Tower
	191 Peachtree Tower North Point Center East Gateway Village
(2)	Property Revenues and Expenses includes results for the Company and its share of unconsolidated joint ventures.
(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.

Cousins Properties Incorporated 11 Q2 2015 Supplemental Information

OFFICE LEASING ACTIVITY(1)

	Three Months Ended June 30, 2015												Six Months Ended June 30, 2015
	New			Renewal			Expansion			Total			New			Renewal			Expansion			Total
Gross leased (square feet)										585,372												1,052,442
Less: Leases less than one year, amenity leases, percentage rent leases, storage leases, intercompany leases, and license agreements										(64,024		)										(90,255)
Net leased (square feet)	174,081			323,627			23,640			521,348			300,628			614,100			47,459			962,187
Number of transactions	15			17			4			36			28			37			9			74
Lease term (years) (2)	8.68			6.17			4.47			6.91			8.52			5.86			5.02			6.65
Net rent (per square foot) (2)(3)	$	27.15		$	21.22		$	22.89		$	23.23		$	24.03		$	20.30		$	22.66		$	21.58
Total leasing costs (per square foot) (2)(4)	(6.29		)	(6.23		)	(6.93		)	(6.27		)	(6.54		)	(5.10		)	(5.75		)	(5.58		)
Net effective rent (per square foot) (2)	$	20.86		$	14.99		$	15.96		$	16.96		$	17.49		$	15.20		$	16.91		$	16.00
Second generation leased square feet (2)(5)										377,081												712,497
Increase in second generation net rent (2)(3)(5)										43.8		%										39.0		%
Increase in cash basis second generation net rent(2)(5)(6)										32.8		%										20.1		%
(1) Excludes apartment and retail leasing.
(2) Weighted average.
(3) Represents straight-lined net rent per square foot (operating expenses deducted from gross leases) over the lease term.
(4) Includes tenant improvements, external leasing commissions, and free rent.
(5) Excludes leases executed for spaces that were vacant upon acquisition, new leases in a development property, and leases for spaces that have been vacant for one year or more.
(6) 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 12 Q2 2015 Supplemental Information

OFFICE LEASE EXPIRATIONS

Lease Expirations by Year

Year of Expiration	Square Feet Expiring (1)	% of Leased Space		Annual Contractual Rents ($000's) (1)(2)		% of Total Annual Contractual Rents		Annual Contractual Rent/Sq. Ft. (2)
2015	352,342	2.6	%	$	5,620	1.8	%	$	15.95
2016	1,322,072	9.9	%	26,139		8.2	%	19.77
2017	1,080,418	8.1	%	23,377		7.4	%	21.64
2018	1,105,142	8.2	%	22,871		7.2	%	20.69
2019	1,158,027	8.6	%	28,685		9.0	%	24.77
2020	881,248	6.6	%	20,301		6.4	%	23.04
2021	1,179,335	8.8	%	29,304		9.2	%	24.85
2022	1,407,981	10.5	%	32,273		10.1	%	22.92
2023	1,566,356	11.7	%	35,412		11.1	%	22.61
2024 &Thereafter	3,343,524	25.0	%	94,074		29.6	%	28.14
Total	13,396,445	100.0	%	$	318,056	100.0	%	$	23.74

Lease Expirations Greater than 100,000 Square Feet Through Year End 2018

Expiration Date	Tenant	Market	Building	Square Feet Expiring (1)
December 2016	Bank of America	Charlotte	Gateway Village		514,396
December 2018	Apache Corporation	Houston	Post Oak Central		524,342

(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 13 Q2 2015 Supplemental Information

OFFICE LEASE EXPIRATIONS

Note: Company's share

Cousins Properties Incorporated 14 Q2 2015 Supplemental Information

TOP 20 OFFICE TENANTS

	Tenant (1)	Company's Share of Square Footage	Company's Share of Annualized Base Rent		Percentage of Total Company's Share of Annualized Base Rent (2)	Average Remaining Lease Term (Years) (3)
1	Occidental Oil & Gas Corp.	961,491	$	18,296,297	7%	11
2	Apache Corporation	524,342	9,085,677		3%	4
3	Bank of America (4)	913,134	6,962,625		3%	3
4	Invesco Management Group, Inc.	400,310	6,626,257		3%	9
5	McGuire Woods, LLP	198,648	5,596,578		2%	11
6	Deloitte LLP	259,998	5,410,549		2%	9
7	Transocean Offshore Deepwater	264,002	5,221,383		2%	8
8	American Cancer Society, Inc.	275,198	4,829,991		2%	7
9	Smith Gambrell & Russell	159,136	4,767,099		2%	6
10	Stewart Information Services	235,290	4,068,203		2%	4
11	US South Communications	194,685	3,717,188		1%	6
12	CB Richard Ellis, Inc.	172,429	3,608,302		1%	6
13	Internap Network Services	120,298	3,521,033		1%	5
14	Direct Energy	210,026	2,910,104		1%	7
15	National Union Fire Insurance	105,362	2,891,242		1%	4
16	Northside Hospital	99,185	2,855,822		1%	8
17	MedAssets Net Revenue Systems, LLC	120,660	2,717,827		1%	16
18	Wells Fargo Bank, N.A.	94,215	2,421,604		1%	6
19	Gulf South Pipeline Company LP	98,616	2,366,784		1%	9
20	Emory University	89,970	2,199,095		1%	13
	Total Top 20	5,496,995	$	100,073,660	38%	7
(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.
(3)	Weighted average.
(4)	A portion of the Company's economic exposure for this tenant is limited to a fixed return through a joint venture arrangement.
Note:	This schedule includes tenants whose leases have commenced and/or have taken occupancy. Leases that have been signed but have not commenced are excluded from this schedule.

Cousins Properties Incorporated 15 Q2 2015 Supplemental Information

TENANT INDUSTRY DIVERSIFICATION

(1) Based on total portfolio holdings.

Cousins Properties Incorporated 16 Q2 2015 Supplemental Information

INVESTMENT ACTIVITY

Completed Property Acquisitions

Property	Type	Metropolitan Area	Company's Ownership Interest	Timing	Square Feet	Gross Purchase Price ($ in thousands)
2014
Fifth Third Center	Office	Charlotte	100.0%	3Q	698,000	$	215,000
Northpark Town Center	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
2011
Promenade	Office	Atlanta	100.0%	4Q	775,000	134,700
					11,454,000	$	2,364,200

Completed Property Developments

Project	Type	Metropolitan Area	Company's Ownership Interest	Timing	Square Feet	Project Cost ($ in thousands)
2015
Colorado Tower	Office	Austin	100.0%	1Q	373,000	$	126,100
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
					1,004,000	$	254,200

Cousins Properties Incorporated 17 Q2 2015 Supplemental Information

INVESTMENT ACTIVITY

Completed Property Dispositions

Property	Type	Metropolitan Area	Company's Ownership Interest	Timing	Square Feet	Gross Sales Price ($ in thousands)
2014
600 University Park Place	Office	Birmingham	100.0%	1Q	123,000	$	19,700
Lakeshore Park Plaza	Office	Birmingham	100.0%	3Q	197,000	25,000
Mahan Village	Retail	Florida	50.5%	4Q	147,000	29,500
Cousins Watkins LLC	Retail	Other	50.5%	4Q	339,000	79,500
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
CP Venture Two LLC	Retail	Other	10.3%	3Q	934,000	226,100
CP Venture Five LLC	Retail	Other	11.5%	3Q	1,179,000	296,200
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 Web 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
2011
King Mill	Industrial	Atlanta	75.0%	4Q	796,000	28,300
Lakeside Ranch	Industrial	Dallas	100.0%	4Q	749,000	28,400
One Georgia Center	Office	Atlanta	88.5%	3Q	376,000	48,600
Jefferson Mill	Industrial	Atlanta	75.0%	1Q	459,000	22,000
					10,197,000	$	1,769,700

Cousins Properties Incorporated 18 Q2 2015 Supplemental Information

DEVELOPMENT PIPELINE (1)

Project	Type	Metropolitan Area	Company's Ownership Interest		Project Start Date	Number of Apartment Units/Square Feet	Estimated Project Cost (2) ($ in thousands)		Project Cost Incurred to Date (2) ($ in thousands)		Percent Leased		Percent Occupied		Initial Occupancy			Estimated Stabilization (5)
Research Park V	Office	Austin, TX	100	%	4Q14	173,000	$	44,000	$	14,087	—	%	—	%	1Q16	(3	)	1Q17
Emory Point (Phase II)	Mixed	Atlanta, GA	75	%	4Q13		75,300		67,379
Apartments						307					—	%	—	%	2Q15	(4	)	2Q16
Retail						45,000					66	%	—	%	3Q15	(4	)	2Q16
Carolina Square	Mixed	Chapel Hill, NC	50	%	2Q15		123,000		4,752
Office						159,000					39	%	—	%	2Q17	(3	)	2Q18
Apartments						246					—	%	—	%	2Q17	(4	)	2Q18
Retail						43,000					—	%	—	%	2Q17	(4	)	2Q18
Total							$	242,300	$	86,218

(1) This schedule shows projects currently under active development 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) Amount represents 100% of the estimated project cost. The Research Park V project is being funded 100% by the Company. Emory Point Phase II is being funded with a combination of equity from the partners and a $46 million construction loan. As of June 30, 2015, $32.9 million was outstanding on the Emory Point Phase II construction loan. Carolina Square will be funded with a combination of equity from the partners and up to $80 million from a construction loan, which has no outstanding balance as of June 30, 2015.

(3) Represents the quarter which the Company estimates the first office square feet to be occupied.

(4) Represents the quarter which the Company estimates the first apartment/retail space to be occupied.

(5) Stabilization represents the earlier of the quarter within which the Company estimates it will achieve 90% economic occupancy or one year from initial occupancy.

Cousins Properties Incorporated 19 Q2 2015 Supplemental Information

LAND INVENTORY

	Metropolitan Area	Company's Ownership Interest	Total Developable Land (Acres)		Company's Share
Commercial
North Point	Atlanta	100.0%	32
Wildwood Office Park	Atlanta	50.0%	22
The Avenue Forsyth-Adjacent Land	Atlanta	100.0%	10
549 / 555 / 557 Peachtree Street	Atlanta	100.0%	1
Georgia			65
Victory Center	Dallas	75.0%	3
Texas			3
Commercial Land Held (Acres)			68		57
Cost Basis of Commercial Land Held			$	33,907	$	15,103
Residential (1)
Paulding County	Atlanta	50.0%	4,362
Callaway Gardens (2)	Atlanta	100.0%	218
Georgia			4,580
Padre Island	Corpus Christi	50.0%	15
Texas			15
Residential Land Held (Acres)			4,595		2,406
Cost Basis of Residential Land Held			$	15,984	$	10,405
Grand Total Land Held (Acres)			4,663		2,463
Grand Total Cost Basis of Land Held			$	49,891	$	25,508

(1) Residential represents land that may be sold to third parties as lots or in large tracts for residential or commercial development.

(2) Company's ownership interest is shown at 100% as Callaway Gardens is owned in a joint venture which is consolidated with the Company. See Joint Venture Information included herein for further details.

Cousins Properties Incorporated 20 Q2 2015 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	2015		2016		2017		2018		2019		Thereafter		Total		Company's Share Recourse (1)
Consolidated Debt
Floating Rate Debt
Credit Facility, Unsecured (LIBOR + 1.10%-1.45%; $500mm facility)(2)	100.0	%	1.29	%	5/28/19	$	—	$	—	$	—	$	—	$202,000		$	—	$202,000		$202,000
Total Floating Rate Debt						—		—		—		—		202,000		—		202,000		202,000
Fixed Rate Debt
The Points at Waterview	100.0	%	5.66	%	1/1/16	290		14,025		—		—		—		—		14,315		—
The American Cancer Society Center (3)	100.0	%	6.45	%	9/1/17	873		1,834		127,508		—		—		—		130,215		—
191 Peachtree Tower	100.0	%	3.35	%	10/1/18	—		1,305		2,013		96,682		—		—		100,000		—
Meridian Mark Plaza	100.0	%	6.00	%	8/1/20	219		456		484		514		546		22,978		25,197		—
Post Oak Central	100.0	%	4.26	%	10/1/20	1,687		3,485		3,636		3,794		3,959		166,896		183,457		—
Promenade	100.0	%	4.27	%	10/1/22	1,384		2,862		2,986		3,116		3,252		95,988		109,588		—
816 Congress	100.0	%	3.75	%	11/1/24	—		128		1,568		1,628		1,690		79,986		85,000		—
Total Fixed Rate Debt						4,453		24,095		138,195		105,734		9,447		365,848		647,772		—
Total Consolidated Debt						4,453		24,095		138,195		105,734		211,447		365,848		849,772		202,000
Unconsolidated Debt
Floating Rate Debt
Emory Point (LIBOR + 1.75%)	75.0	%	1.94	%	10/9/15	43,522		—		—		—		—		—		43,522		—
Emory Point II (LIBOR + 1.85%, $46mm facility)	75.0	%	2.04	%	10/9/16	—		24,659		—		—		—		—		24,659		2,466
Carolina Square (LIBOR + 1.90%, $79.755mm facility)	50.0	%	2.09	%	5/1/18	—		—		—		—		—		—		—
Total Floating Rate Debt						43,522		24,659		—		—		—		—		68,181		2,466
Fixed Rate Debt
Gateway Village (4)	50.0	%	6.41	%	12/1/16	4,570		8,768		—		—		—		—		13,338		—
Terminus 100	50.0	%	5.25	%	1/1/23	614		1,277		1,346		1,418		1,494		59,073		65,222		—
Terminus 200	50.0	%	3.79	%	1/1/23	—		559		770		800		831		38,040		41,000		—
Emory University Hospital Midtown Medical Office Tower	50.0	%	3.50	%	6/1/23	357		732		758		785		813		34,055		37,500		—
Total Fixed Rate Debt						5,541		11,336		2,874		3,003		3,138		131,168		157,060		—
Total Unconsolidated Debt						49,063		35,995		2,874		3,003		3,138		131,168		225,241		2,466
Total Debt						$	53,516	$	60,090	$	141,069	$	108,737	$	214,585	$	497,016	$	1,075,013	$	204,466
Total Maturities (5)						$	43,522	$	38,864	$	127,508	$	96,682	$	202,000	$	472,361	$	980,937
% of Maturities						5%		3%		13%		10%		20%		49%		100%

(1) Non-recourse loans are subject to customary carve-outs.

(2) Total borrowing capacity of the Credit Facility at June 30, 2015 was $500 million. The spread over LIBOR at June 30, 2015 was 1.10%.

(3) The real estate and other assets of this property are restricted under a loan agreement such that these assets are not available to settle other debts of the Company.

(4) See Joint Venture Information for further details on the Gateway Village venture structure. Based on the structure of the venture and the nature of the related debt, the Company excludes the Gateway Village debt in certain of its leverage calculations.

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

Floating and Fixed Rate Debt Analysis

	Total Debt ($)		Total Debt (%)		Weighted Average Interest Rate		Weighted Average Maturity (Yrs.)
Floating Rate Debt	$	270,181	25	%	1.46	%	3.1
Fixed Rate Debt	804,832		75	%	4.58	%	5.5
Total Debt	$	1,075,013	100	%	3.80	%	4.9

Cousins Properties Incorporated 21 Q2 2015 Supplemental Information

DEBT SCHEDULE

Cousins Properties Incorporated 22 Q2 2015 Supplemental Information

JOINT VENTURE INFORMATION

		Cash Flows to Cousins			Financial Statement Presentation
Joint Ventures	Properties	Operating	Capital Transactions/Other	GAAP Accounting
EP I LLC	Emory Point (Phase I)	75% of operating cash flows.	75% of proceeds.	Recognize 75% of net income from venture.	Unconsolidated
EP II LLC	Emory Point (Phase II)	75% of operating cash flows.	75% of proceeds.	Recognize 75% of net income from venture.	Unconsolidated
Crawford Long-CPI, LLC	Emory University Hospital Midtown Medical Office Tower	50% of operating cash flows.	50% of proceeds.	Recognize 50% of net income from venture.	Unconsolidated
Charlotte Gateway Village LLC	Gateway Village	Preferred return on investment of 11.46%.	50% of proceeds after partner receives $66.8 million until a 17% leveraged IRR. Thereafter, 20% of remaining proceeds.	Recognize 11.46% of invested capital each period.	Unconsolidated
Terminus Office Holdings LLC	Terminus 100, Terminus 200	50% of operating cash flows until partner receives an agreed upon return. Thereafter, receive an additional promoted interest if certain return thresholds are met.	Same as operating cash flow.	Recognize 50% of net income from venture.	Unconsolidated
HICO Victory Center LP (1)	Land/ Future Office Development	Cousins funds 75% of land and 50% of other expenses in predevelopment stage.	Same as operating cash flow.	Recognize 50% of net income from joint venture.	Unconsolidated (1)
Carolina Square Holdings LP	Future Mixed Use Development	50% of operating cash flows.	50% of proceeds.	Recognize 50% of net income from venture.	Unconsolidated
CL Realty, L.L.C.	Land	50% of operating cash flows.	50% of proceeds.	Recognize 50% of net income from venture.	Unconsolidated
Temco Associates, LLC	Land	50% of operating cash flows.	50% of proceeds.	Recognize 50% of net income from venture.	Unconsolidated
Wildwood Associates	Land	50% of operating cash flows.	50% of proceeds.	Recognize 50% of net income from venture.	Unconsolidated
Cousins/Callaway LLC	Land	The first $2.0 million of cash flows; 77% of the next $17.7 million of cash flows; 50% of remaining cash flows until a 20% IRR; 40% of remaining cash flows until a 25% IRR; 25% of remainder.	Same as operating cash flow.	Recognize revenues and expenses as if a wholly-owned property. Recognize noncontrolling interest based on amounts earned by partner.	Consolidated

(1) If the partners decide to construct an office building, the economics of the venture will adjust such that Cousins owns at least 90% of the venture. At that time, the Company expects the venture to be consolidated.

Cousins Properties Incorporated 23 Q2 2015 Supplemental Information

NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS

	2013		2014 1st		2014 2nd		2014 3rd		2014 4th		2014		2015 1st		2015 2nd		2015 YTD
2nd Generation TI & Leasing Costs & Building CAPEX:
Office
Second Generation Leasing Related Costs	12,139		2,745		5,388		12,023		11,031		31,187		11,513		12,294		23,807
Second Generation Building Improvements	3,814		550		1,929		—		1,388		3,867		507		965		1,472
	15,954		3,295		7,317		12,023		12,419		35,054		12,020		13,259		25,279
Net Operating Income
Office Consolidated Properties	102,624		42,225		43,666		47,776		52,926		186,593		52,103		54,780		106,883
Other Consolidated Properties	1,299		402		409		396		178		1,385		(24	)	10		(14	)
Net Operating Income - Consolidated	103,923		42,627		44,075		48,172		53,104		187,978		52,079		54,790		106,869
Rental Property Revenues	194,420		77,484		80,034		86,857		99,535		343,910		90,033		96,177		186,210
Rental Property Operating Expenses	(90,497	)	(34,857	)	(35,959	)	(38,685	)	(46,434	)	(155,934	)	(37,954	)	(41,387	)	(79,341	)
Net Operating Income - Consolidated	103,923		42,627		44,075		48,172		53,101		187,976		52,079		54,790		106,869
Income from Discontinued Operations
Rental Property Revenues	10,552		1,356		967		601		4		2,927		4		—		4
Rental Property Operating Expenses	(4,163	)	(464	)	(402	)	(260	)	(2	)	(1,128	)	(18	)	—		(18	)
Net Operating Income	6,389		892		565		341		2		1,799		(14	)	—		(14	)
Termination Fees	—		—		2		—		—		2		—		—		—
Interest and Other Income (Expense)	15		—		—		8		(4	)	3		(210	)	(6	)	(216	)
FFO from Discontinued Operations	6,404		892		567		349		(2	)	1,804		(224	)	(6	)	(230	)
Third Party Management and Leasing Revenues	76		—		—		—		—		—		—		—		—
Third Party Management and Leasing Expenses	(97	)	—		—		(1	)	(1	)	(2	)	—		—		—
FFO from Third Party Management and Leasing	(21	)	—		—		(1	)	(1	)	(2	)	—		—		—
FFO from Discontinued Operations	6,383		892		567		348		(3	)	1,802		(224	)	(6	)	(230	)
Depreciation and Amortization of Real Estate	(3,086	)	—		—		—		—		—		—		—		—
Income from Discontinued Operations	3,297		892		567		348		(3	)	1,804		(224	)	(6	)	(230	)
Income (Loss) from Unconsolidated Joint Ventures
Net Operating Income
Office Properties	16,195		4,493		4,593		4,575		4,515		18,176		4,642		4,489		9,131
Other Properties	11,572		2,006		2,055		2,026		1,633		7,720		1,346		1,495		2,841
Net Operating Income	27,767		6,499		6,648		6,601		6,148		25,896		5,988		5,984		11,972
Residential Lot, Outparcel and Tract Sales Less Cost of Sales	115		—		5		—		2,160		2,165		—		242		242
Other Sales Less Cost of Sales	(4	)	—		42		—		—		42		—		—		—
Termination Fees	19		—		72		—		113		185		120		28		148
Interest Expense	(7,963	)	(1,845	)	(1,843	)	(1,843	)	(1,833	)	(7,364	)	(1,822	)	(1,827	)	(3,649	)

Cousins Properties Incorporated 24 Q2 2015 Supplemental Information

NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS

	2013		2014 1st		2014 2nd		2014 3rd		2014 4th		2014		2015 1st		2015 2nd		2015 YTD
Other Expense	513		28		203		155		150		536		68		106		174
Depreciation and Amortization of Non-Real Estate Assets	(34	)	(11	)	(12	)	(12	)	(11	)	(46	)	—		—		—
Funds from Operations - Unconsolidated Joint Ventures	20,413		4,671		5,115		4,901		6,727		21,414		4,354		4,533		8,887
Gain on Sale of Depreciated Investment Properties, net	60,344		(387	)	—		—		2,154		1,767		—		—		—
Depreciation and Amortization of Real Estate	(13,435	)	(2,998	)	(3,088	)	(2,870	)	(2,957	)	(11,913	)	(2,743	)	(2,772	)	(5,515	)
Net Income from Unconsolidated Joint Ventures	67,322		1,286		2,027		2,031		5,924		11,268		1,611		1,761		3,372
Market Capitalization
Common Stock price at Period End	10.30		11.47		12.45		11.95		11.42		11.42		10.60		10.38		10.38
Number of Common Shares Outstanding at Period End	189,666		198,423		198,474		216,509		216,513		216,513		216,470		216,686		216,686
Common Stock Capitalization	1,953,560		2,275,912		2,471,001		2,587,283		2,472,578		2,472,578		2,294,582		2,249,201		2,249,201
Preferred Stock Series B Price at Liquidation Value	94,775		94,775		—		—		—		—		—		—		—
Preferred Stock at Liquidation Value	94,775		94,775		—		—		—		—		—		—		—
Debt	630,094		587,442		665,852		671,074		792,344		792,344		849,772		849,772		849,772
Share of Unconsolidated Debt	228,489		226,574		224,241		224,544		215,158		215,158		219,428		225,241		225,241
Debt (2)	858,583		814,016		890,093		895,618		1,007,502		1,007,502		1,067,376		1,075,013		1,075,013
Total Market Capitalization	2,906,918		3,184,703		3,361,094		3,482,901		3,480,080		3,480,080		3,361,958		3,324,214		3,324,214
Leverage Ratios
Debt (2)	858,583		814,016		890,093		895,618		1,007,502		1,007,502		1,067,376		1,075,013		1,075,013
Total Market Capitalization	2,906,918		3,184,703		3,361,094		3,482,901		3,480,080		3,480,080		3,361,958		3,324,214		3,324,214
Debt (2) / Total Market Capitalization	29.5	%	25.6	%	26.5	%	25.7	%	29.0	%	29.0	%	31.7	%	32.3	%	32.3	%
Total Assets - Consolidated	2,273,206		2,294,038		2,280,243		2,533,660		2,667,330		2,667,330		2,684,661		2,685,466		2,685,466
Accumulated Depreciation - Consolidated	257,151		270,753		295,120		307,023		324,543		324,543		348,344		373,994		373,994
Undepreciated Assets - Unconsolidated (2)	441,928		446,890		492,640		459,931		450,535		450,535		454,835		466,438		466,438
Less: Investment in Unconsolidated Joint Ventures	(107,082	)	(107,106	)	(111,164	)	(111,353	)	(100,498	)	(100,498	)	(100,821	)	(103,665	)	(103,665	)
Total Undepreciated Assets (2)	2,865,203		2,904,575		2,956,839		3,189,261		3,341,910		3,341,910		3,387,019		3,422,233		3,422,233
Debt (2)	858,583		814,016		890,093		895,618		1,007,502		1,007,502		1,067,376		1,075,013		1,075,013
Undepreciated Assets (2)	2,865,203		2,904,575		2,956,839		3,189,261		3,341,910		3,341,910		3,387,019		3,422,233		3,422,233
Debt (2) / Total Undepreciated Assets (2)	30.0	%	28.0	%	30.1	%	28.1	%	30.1	%	30.1	%	31.5	%	31.4	%	31.4	%
EBITDA (2)
FFO	77,134		36,182		35,784		41,676		51,560		165,204		45,935		45,238		91,173
Interest Expense	29,672		9,012		8,813		8,660		9,989		36,474		9,498		9,696		19,194
Non-Real Estate Depreciation and Amortization	787		196		213		244		260		913		471		374		845
Income Tax Provision (Benefit)	(23	)	(12	)	(9	)	1		—		(20	)	—		—		—
Gain on Sale of Third Party Management & Leasing Business	(4,576	)	(7	)	—		(5	)	15		3		—		—		—
Acquisition and Related Costs	7,484		22		149		644		315		1,130		83		2		85

Cousins Properties Incorporated 25 Q2 2015 Supplemental Information

NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS

	2013		2014 1st		2014 2nd		2014 3rd		2014 4th		2014		2015 1st		2015 2nd		2015 YTD
Preferred Stock Dividends and Original Issuance Costs	12,664		1,777		4,708		—		—		6,485		—		—		—
EBITDA (2)	123,142		47,170		49,658		51,220		62,139		210,189		55,987		55,310		111,297
Coverage Ratios (2)
EBITDA	123,142		47,170		49,658		51,220		62,139		210,189		55,987		55,310		111,297
Interest Expense	29,672		9,012		8,813		8,660		9,989		36,474		9,498		9,696		19,194
Interest Coverage Ratio (2)	4.15		5.23		5.63		5.91		6.22		5.76		5.89		5.70		5.80
Interest Expense	29,672		9,012		8,813		8,660		9,989		36,474		9,498		9,696		19,194
Scheduled Principal Payments	7,032		2,445		2,430		2,460		2,501		9,836		2,493		2,477		4,970
Preferred Stock Dividends	10,008		1,777		1,178		—		—		2,955		—		—		—
Fixed Charges	46,712		13,234		12,421		11,120		12,490		49,265		11,991		12,173		24,164
EBITDA	123,142		47,170		49,658		51,220		62,139		210,189		55,939		55,310		111,249
Fixed Charges Coverage Ratio (2)	2.64		3.56		4.00		4.61		4.98		4.27		4.67		4.54		4.60
Debt (2)	858,583		814,016		890,093		895,618		1,007,502		1,007,502		1,067,376		1,075,013		1,075,013
Annualized EBITDA (3)	181,728		188,680		198,632		204,880		248,556		248,556		223,756		221,240		221,240
Debt (2) / Annualized EBITDA (3)	4.72		4.31		4.48		4.37		4.05		4.05		4.77		4.86		4.83
Dividend Information
Cash Common Dividends	27,192		14,232		14,882		16,236		16,213		61,563		17,349		17,328		34,677
FFO	77,134		36,182		35,784		41,676		51,560		165,204		45,935		45,238		91,173
FFO Payout Ratio	35.3	%	39.3	%	41.6	%	39.0	%	31.4	%	37.3	%	37.8	%	38.3	%	38.0	%
FFO Before Certain Charges
FFO	77,134		36,182		35,784		41,676		51,560		165,204		45,935		45,238		91,173
Preferred Stock Original Issuance Costs	2,656		—		3,530		—		—		3,530		—		—		—
Acquisition and Related Costs	7,484		22		149		644		315		1,130		83		2		85
Gain on Sale of Third Party Management & Leasing Business	(4,576	)	(7	)	—		(5	)	15		3		—		—		—
Separation Charges	520		84		—		—		101		185		102		—		102
FFO Before Certain Charges	83,218		36,281		39,463		42,315		51,991		170,052		46,120		45,240		91,360
FFO Before Certain Charges Payout Ratio	32.7	%	39.2	%	37.7	%	38.4	%	31.2	%	36.2	%	37.6	%	38.3	%	38.0	%
FAD (2)
FFO	77,134		36,182		35,784		41,676		51,560		165,204		45,935		45,238		91,173
Straight Line Rental Revenue	(12,826	)	(7,648	)	(5,001	)	(4,169	)	(5,275	)	(22,093	)	(6,285	)	(5,786	)	(12,071	)
Above and Below Market Rents	(3,785	)	(1,952	)	(2,027	)	(1,933	)	(2,135	)	(8,047	)	(2,030	)	(1,973	)	(4,003	)
Second Generation CAPEX	(16,414	)	(3,295	)	(7,317	)	(12,023	)	(12,419	)	(35,054	)	(12,020	)	(13,259	)	(25,279	)
FAD (2)	44,109		23,286		21,439		23,551		31,731		100,010		25,600		24,220		49,820
Common Dividends	27,192		14,232		14,882		16,236		16,213		61,563		17,349		17,328		34,677
FAD Payout Ratio (2)	61.6	%	61.1	%	69.4	%	68.9	%	51.1	%	61.6	%	67.8	%	71.5	%	69.6	%

Cousins Properties Incorporated 26 Q2 2015 Supplemental Information

NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS

	2013		2014 1st		2014 2nd		2014 3rd		2014 4th		2014		2015 1st		2015 2nd		2015 YTD
FAD Before Certain Charges
FAD (2)	44,109		23,286		21,440		23,551		31,731		100,010		25,600		24,220		49,820
Preferred Stock Original Issuance Costs	2,656		—		3,530		—		—		3,530		—		—		—
Acquisition and Related Costs	7,484		22		149		644		315		1,130		83		2		85
Gain on Sale of Third Party Business	(4,576	)	(7	)	—		(5	)	15		3		—		—		—
Separation Changes	520		84		—		—		101		185		102		—		102
FAD Before Certain Charges	50,193		23,385		25,119		24,190		32,162		104,858		25,785		24,222		50,007
FAD Before Certain Charges Payout Ratio	54.2	%	60.9	%	59.2	%	67.1	%	50.4	%	58.7	%	67.3	%	71.5	%	69.3	%
Operations Ratios
Revenues	210,737		81,723		84,505		89,098		106,055		361,383		91,976		97,903		189,879
Revenues from Discontinued Operations	10,671		1,363		975		615		4		2,956		4		—		4
Revenues including Discontinued Operations	221,408		83,086		85,480		89,713		106,059		364,339		91,980		97,903		189,883
General and Administrative Expenses	21,940		5,611		5,756		5,022		3,398		19,787		3,493		5,942		9,435
Revenues Including Discontinued Operations	221,408		83,086		85,480		89,713		106,059		364,339		91,980		97,903		189,883
General and Administrative Expenses/ Revenues including Discontinued Operations	9.9	%	6.8	%	6.7	%	5.6	%	3.2	%	5.4	%	3.8	%	6.1	%	5.0	%
Total Undepreciated Assets (2)	2,865,203		2,904,575		2,956,839		3,189,261		3,341,910		3,341,910		3,387,019		3,422,233		3,422,233
Annualized General and Administrative Expenses (4) / Total Undepreciated Assets	0.77	%	0.77	%	0.78	%	0.63	%	0.42	%	0.59	%	0.41	%	0.69	%	0.55	%

Cousins Properties Incorporated 27 Q2 2015 Supplemental Information

NON-GAAP FINANCIAL MEASURES - CALCULATIONS AND RECONCILIATIONS

	Three Months Ended ($ in thousands)							Six Months Ended
	June 30, 2015		June 30, 2014		March 31, 2015			June 30, 2015			June 30, 2014
Rental Property Revenues
Same Property	$	76,692	$	73,848	$	73,549		$	150,243		$	145,407
Non-Same Property	28,529		16,544		25,458			53,986			33,210
	$	105,221	$	90,392	$	99,007		$	204,229		$	178,617
Rental Property Operating Expenses
Same Property	$	32,825	$	30,692	$	30,222		$	63,047		$	61,089
Non-Same Property	11,622		8,414		10,733			22,355			16,213
	$	44,447	$	39,106	$	40,955		$	85,402		$	77,302
Rental Property Revenues
Consolidated Properties	$	96,177	$	80,034	$	90,039		$	186,216		$	157,518
Discontinued Operations	—		967		4			4			2,323
Share of Unconsolidated Joint Ventures	9,044		9,391		8,964			18,009			18,776
	$	105,221	$	90,392	$	99,007		$	204,229		$	178,617
Rental Property Operating Expenses
Consolidated Properties	$	41,387	$	35,959	$	37,954		$	79,340		$	70,816
Discontinued Operations	—		402		18			18			866
Share of Unconsolidated Joint Ventures	3,060		2,745		2,983			6,044			5,620
	$	44,447	$	39,106	$	40,955		$	85,402		$	77,302
Cash Basis Rental Property Revenues
Rental Property Revenues	$	105,221	$	90,392	$	99,007		$	204,229		$	178,617
Less: Straight Line Rent	5,786		5,001		6,285			12,071			12,649
Less: Other	1,456		1,622		1,536			2,992			3,202
	$	97,979	$	83,769	$	91,186		$	189,166		$	162,766
Cash Basis Rental Property Revenues
Same Property	$	72,772	$	68,657	$	69,035		$	141,808		$	132,548
Non-Same Property	25,207		15,112		22,151			47,358			30,218
	$	97,979	$	83,769	$	91,186		$	189,166		$	162,766
Cash Basis Rental Property Operating Expenses
Rental Property Operating Expenses	$	44,447	$	39,106	$	40,955		$	85,402		$	77,302
Non-Cash Ground Rent Expense	16		3		(80		)	(64		)	7
	$	44,463	$	39,109	$	40,875		$	85,338		$	77,309
Cash Basis Rental Property Operating Expenses
Same Property	$	32,828	$	30,695	$	30,224		$	63,052		$	61,094
Non-Same Property	11,635		8,414		10,651			22,286			16,215
	$	44,463	$	39,109	$	40,875		$	85,338		$	77,309
(1) Amounts may differ slightly from other schedules contained herein due to rounding.
(2) Includes Company share of unconsolidated joint ventures.
(3) Annualized represents quarter amount annualized.
(4) Quarter figures annualized represent quarter amount annualized, year-to-date represents year-to-date annualized.

Cousins Properties Incorporated 28 Q2 2015 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 and other building improvements associated with properties acquired for 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 related 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 related costs, gain on sale of third party business, participation 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 related 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 for each of the two periods presented or has been substantially complete and owned by the Company for each of the two periods presented and the preceding year. 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 29 Q2 2015 Supplemental Information