SELECTED FINANCIAL DATA ALEXANDRIA REAL ESTATE EQUITIES, INC. AND SUBSIDIARIES Year Ended December 31, (DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) 2003 2002 2001 2000 1999 Operating Data: Total revenue $ 160,558 $ 142,271 $ 120,861 $ 100,122 $ 79,533 Total expenses 112,054 104,000 93,279 76,685 60,030 Income from continuing operations 48,504 38,271 27,582 23,437 19,503 Income from discontinued operations, net 11,139 1,761 2,695 2,572 2,550 Net income $ 59,643 $ 40,032 $ 30,277 $ 26,009 $ 22,053 Dividends on preferred stock 8,898 8,579 3,666 3,666 2,036 Net income available to common stockholders $ 50,745 $ 31,453 $ 26,611 $ 22,343 $ 20,017 Basic income per common share: Income from continuing operations $ 2.55 $ 2.18 $ 1.73 $ 1.62 $ 1.44 Income from discontinued operations, net $ 0.59 $ 0.10 $ 0.17 $ 0.18 $ 0.19 Net income $ 3.14 $ 2.28 $ 1.90 $ 1.80 $ 1.63 Net income available to common stockholders $ 2.67 $ 1.79 $ 1.67 $ 1.55 $ 1.48 Diluted income per common share: Income from continuing operations $ 2.52 $ 2.14 $ 1.70 $ 1.59 $ 1.43 Income from discontinued operations, net $ 0.58 $ 0.10 $ 0.17 $ 0.17 $ 0.19 Net income $ 3.10 $ 2.24 $ 1.87 $ 1.77 $ 1.61 Net income available to common stockholders $ 2.64 $ 1.76 $ 1.64 $ 1.52 $ 1.46 Weighted average shares of common stock outstanding Basic 18,993,856 17,594,228 15,953,459 14,460,711 13,525,840 Diluted 19,247,790 17,859,787 16,208,178 14,699,478 13,670,568 Cash dividends declared per share of common stock $ 2.20 $ 2.00 $ 1.84 $ 1.72 $ 1.69 The following table should be read in conjunction with our consolidated financial statements and notes thereto appearing elsewhere in this report. 17