COUSINS PROPERTIES INC 10-K

Item 7A. Quantitative and Qualitative Disclosure about Market Risk Our primary exposure to market risk results from our debt, which bears interest at both fixed and variable rates. We attempt to mitigate this risk primarily by limiting our debt exposure in total and our maturities in any one year and weighting more towards fixed-rate debt in our portfolio. We also use derivative financial instruments to effectively convert some of our variable rate debt to fixed rate debt. These fixed rate debt obligations limit the risk of fluctuating interest rates. As of December 31, 2025 and 2024, we had $3.0 billion and $2.7 billion, respectively, of fixed rate debt, including the 2022 Term Loan, outstanding at a weighted average interest rate of 4.94% and 4.85%, respectively. At December 31, 2025, we had $366.0 million of variable rate debt outstanding, which consisted of the Credit Facility with $116.0 million outstanding at an interest rate of 4.535% and $250 million outstanding on the 2021 Term Loan with an interest rate of 4.76%. At December 31, 2024, we had $362.3 million of variable rate debt outstanding, which consisted of the Credit Facility with $112.3 million outstanding at an interest rate of 5.185% and $250 million outstanding on the 2021 Term Loan with an interest rate of 5.41%. Based on our average variable rate debt balances in 2025, interest incurred would have increased by $3.3 million in 2025 if interest rates had been 1% higher. The information presented above should be read in conjunction with note 9 and note 10 of notes to consolidated financial statements included in this Annual Report on Form 10-K. Item 8. Financial Statements and Supplementary Data The financial statements and financial statement schedules required under Regulation S-X are filed pursuant to Item 15 of Part IV of this report. Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure Not applicable.