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COLUMBIA PROPERTY TRUST UPDATE ON PENDING TRANSACTIONS & 2020 GUIDANCE 12.2019 1

UPDATE ON PENDING TRANSACTIONS & 2020 GUIDANCE INCLUDED IN THIS PRESENTATION: Slide 201 California Acquisition 3 Pending Dispositions 4 Normandy Transaction 5 Continuing Same-Store NOI Growth 9 Initial 2020 Guidance 10 2

ACQUIRING 201 CALIFORNIA STREET SAN FRANCISCO Price: $239 million Built: 1980 Rentable Square Feet: 272,000 Leased: 97% Closing date: December 2019 Opportunity • Well-located at California and Front Streets • Recently renovated but with opportunity to further enhance market position with modest capital investments • Two-thirds of the space expiring over the next five years, with in-place rents 10%+ below market* Photo used courtesy of Eastdil Secured. *Based on management's estimate. 3

PROCEEDING WITH PITTSBURGH & PASADENA SALES Westinghouse Campus - Cranberry Woods Sales of Westinghouse Campus and Pasadena Corporate Park both expected to close in early 2020 • Westinghouse Campus in Pittsburgh is under contract, with sale expected to close in Jan. 2020 • Columbia is marketing Pasadena Corporate Park and expects to complete a sale in early 2020 Pasadena Corporate Park • Expected combined sales price of $245-265 million • Remaining portfolio located in New York, San Francisco, Washington, D.C., and Boston 4

NORMANDY ACQUISITION HIGHLIGHTS Under contract to acquire Normandy Real Estate Management, a reputable Northeast- CONSTRUCTION based commercial real estate operator and LEASING & + ASSET + fund sponsor. MANAGEMENT DEVELOPMENT • Acquisition includes Normandy’s: + PROPERTY + MANAGEMENT FUND - Operating platform MANAGEMENT - Management businesses and ACQUISITIONS & DISPOSITIONS FINANCE & corresponding fee streams ACCOUNTING JOINT - ~$3.5 million GP stake in Normandy’s VENTURE Funds III and IV MANAGEMENT • Consideration reflects approximate nominal 1 value of $100 million EXPECTED BENEFITS: • Finn Wentworth expected to join Columbia . board; Jeff Gronning, Gavin Evans, Paul Teti Expanded Platform and other Normandy Partners to join . Enhanced Execution Columbia’s senior leadership team . Greater Capital Access . Augmented Growth Strategy Transaction expected to close at or shortly after • . YE2019 Accretive Transaction 1Exclusive of transaction and closing costs; includes $86.5 MM convertible preferred OP units at $26.50 strike price (same dividend as common stock) and $13.5 MM cash. 5

LOOKING AHEAD Expectations for the new expanded platform • Pursue compelling development and repositioning projects • 1-3 projects per year, depending on leasing progress at existing projects and overall portfolio risk level • Fund approximately 80% of such projects with capital from institutional partners • Maintain strong balance sheet and limit risk, with 10%-20% of capital allocated to value-add and development 6

INTRODUCTIONS FINN JEFF GAVIN PAUL WENTWORTH GRONNING EVANS TETI Expected to join Chief Investment Leasing & Asset CXP board Officer Acquisitions Management Mr. Wentworth is a Founder Mr. Gronning is a Founder Mr. Evans is a Partner of Mr. Teti is a Partner of and Partner of Normandy. and Partner of Normandy. His Normandy and co-heads its Normandy and head of its With over 35 years of 28 years of industry Investments team, where he is leasing group, responsible for commercial real estate experience involve operations, responsible for directing all managing the leasing and experience, including investing, capital formation, aspects of the firm’s marketing activities for considerable development and financial management, transaction activities. At Normandy’s portfolio. Teti’s success, Mr. Wentworth will including a period as CFO of Columbia, Evans will play a abilities and relationships will be a valuable addition to Morgan Stanley’s real estate key role in sourcing and complement Columbia’s Columbia’s board of directors. investing division, responsible acquiring compelling proven asset management for a $13 billion asset portfolio. investment opportunities. platform. STEVE STEVE MELISSA TRAPP SMITH DONOHOE Property Fundraising & Construction Management Private Capital IR A Principal of Normandy, Mr. A Principal of Normandy, Mr. A Sr. VP at Normandy, Ms. Trapp directs all construction Smith directs the firm’s property Donohoe leads investor activities for the company. His management activities. He has relations, capital formation and 30 years of experience in 30+ years’ experience in marketing. Earlier, she originated commercial real estate and commercial real estate, and managed investments for construction includes serving managing over 20M SF of office, high-yield debt funds for Ares as Sr. VP of Development for industrial, and retail property. He Management. Ms. Donohoe will Mack Cali Realty Corporation will bring that expertise to bear lead fund and partner IR for and President of The Gale as head of property management Columbia, including efforts to Construction Company. for the new combined platform. raise new partner capital. 7

MODEST NEAR-TERM ACCRETION FROM NORMANDY ACQUISITION 2020 EXPECTATIONS Revenue Streams Range (in millions) Asset Management Fees $6.5 - $7.0 Property Management Fees $5.5 - $6.5 Construction & Development Fees $4.0 - $5.0 Leasing Fees & Other Income $1.5 - $2.5 TOTAL $17.5 - $21.0 Net Income & NFFO Contribution* $6 million - $9 million Net Income & NFFO Accretion per Share* $0.01 - $0.03 (after adjusting for 3.26 million additional units)** *Exclusive of transaction costs. **Incremental convertible preferred OP units issued as consideration in Normandy transaction. 8

STRONG LEASING DRIVING SAME-STORE NOI GROWTH • Strategic locations and renovations • 2 million SF •8% - 10% leased in our core 2019 same-store • Best-in-class service markets 2017-2019 NOI growth and amenities • 44% average •8% - 11% • Creative rent roll cash leasing management spreads 2020 same-store NOI guidance • 9

2020 GUIDANCE* Assumptions • Acquisition of 201 California, San Francisco, in December 2019 • Disposition of Westinghouse Campus and Pasadena Corporate Park anticipated in Q1 2020 • Close on Normandy acquisition between December 2019 - January 2020 • Same-store NOI growth of 8% - 11% (cash basis) Guidance Low High Net Income $0.28 $0.31 Depreciation & Amortization $1.18 $1.20 Normalized Funds from Operations $1.46 $1.51 *Excludes income (expenses) on future acquisitions and dispositions, as such amounts are excluded from NFFO. 10

WHAT’S NEXT? COLUMBIA INVESTOR DAY coming in early 2020 After the close of the Normandy transaction, we’ll introduce the new team and tour some of our exciting projects. DETAILS COMING SOON. 11

FORWARD-LOOKING STATEMENTS Certain statements contained in this presentation other than historical facts may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue," or other similar words. Such statements include, in particular, statements with respect our preliminary 2020 guidance and underlying assumptions; the proposed real property acquisitions and disposition transactions, including expected timing, expected gross sales proceeds, and other benefits from such transactions; our pending acquisition of Normandy, including the expected timing of closing of the transaction, anticipated financial impact from the Normandy acquisition, and expected benefits from the integration of the Normandy team; and expectations for the expanded new platform. These statements are subject to certain risks and uncertainties, including known and unknown risks, which could cause actual results to differ materially from those projected or anticipated. Therefore, such statements are not intended to be a guarantee of our performance in future periods. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Any such forward-looking statements are based on a number of assumptions involving judgments with respect to, among other things, future economic, competitive, and market conditions, all of which are difficult or impossible to predict accurately. To the extent that our assumptions differ from actual conditions, our ability to accurately anticipate results expressed in such forward-looking statements, including our ability to generate positive cash flow from operations, make distributions to stockholders, and maintain the value of our real estate properties, may be significantly hindered. See Item 1A in Columbia Property Trust’s Annual Report on Form 10-K for the year ended December 31, 2018, and subsequent Quarterly Reports on Form 10-Q, for a discussion of some of the risks and uncertainties that could cause actual results to differ materially from those presented in our forward-looking statements. The risk factors described in our Annual Report and Quarterly Reports are not the only ones we face, but do represent those risks and uncertainties that we believe are material to us. Additional risks and uncertainties not currently known to us or that we currently deem immaterial may also harm our business. We do not undertake any duty to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, other than as required by law. The names, logos and related product and service names, design marks, and slogans are the trademarks or service marks of their respective companies. When evaluating the Company’s performance and capital resources, management considers the financial impact of investments held directly and through unconsolidated joint ventures. This presentation includes financial and operational information for our wholly-owned investments and our proportional interest in unconsolidated investments. 116-CORPPRES1911 12