The sale of the Notes is expected to close on December 13, 2022, subject to customary closing conditions. The net proceeds of the offering, after deducting underwriting discounts and estimated transaction expenses related to this offering, are expected to be approximately $344.1 million. The Operating Partnership intends to use the net proceeds of the offering to repurchase or redeem the $350 million outstanding principal amount of its 3.95% Guaranteed Notes due February 15, 2023 and for general corporate purposes, which may include the repayment, repurchase or other retirement of other indebtedness. The joint book-running managers for the offering are BofA Securities, Inc., Citigroup Global Markets Inc., PNC Capital Markets LLC, Truist Securities, Inc., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC. The senior co-managers for the offering are BNY Mellon Capital Markets, LLC, Citizens Capital Markets, Inc., M&T Securities, Inc. and TD Securities (USA) LLC.