Common use of EXAMPLES REGARDING ADJUSTMENT FACTOR Clause in Contracts

EXAMPLES REGARDING ADJUSTMENT FACTOR. For purposes of the following examples, it is assumed that (a) the Adjustment Factor in effect on January 5, 2022 is 1.0 and (b) on July 1, 2022 (the “Partnership Record Date” for purposes of these examples), prior to the events described in the examples, there are 100 REIT Shares issued and outstanding. Example 1 On the Partnership Record Date, Federal Realty declares a dividend on its outstanding REIT Shares in REIT Shares. The amount of the dividend is one REIT Share paid in respect of each REIT Share owned. Pursuant to Paragraph (a) of the definition of Adjustment Factor, the Adjustment Factor shall be adjusted on the Partnership Record Date, effective immediately after the stock dividend is declared, as follows:

EXAMPLES REGARDING ADJUSTMENT FACTOR. For purposes of the following examples, it is assumed that (a) the Adjustment Factor in effect on January 5December 31, 2022 2014 is 1.0 and (b) on July January 1, 2022 2015 (the “Partnership Record Date” for purposes of these examples), prior to the events described in the examples, there are 100 REIT Shares issued and outstanding. Example 1 On the Partnership Record Date, Federal Realty the Special Limited Partner declares a dividend on its outstanding REIT Shares in REIT Shares. The amount of the dividend is one REIT Share paid in respect of each REIT Share owned. Pursuant to Paragraph (ai) of the definition of “Adjustment Factor, ,” the Adjustment Factor shall be adjusted on the Partnership Record Date, effective immediately after the stock dividend is declared, as follows:

EXAMPLES REGARDING ADJUSTMENT FACTOR. For purposes of the following examples, it is assumed that (a) the Adjustment Factor in effect on January 5December 31, 2022 2012 is 1.0 and (b) on July January 1, 2022 2013 (the “Partnership Record Date” for purposes of these examples), prior to the events described in the examples, there are 100 REIT Shares issued and outstanding. Example 1 On the Partnership Record Date, Federal Realty the Special Limited Partner declares a dividend on its outstanding REIT Shares in REIT Shares. The amount of the dividend is one REIT Share paid in respect of each REIT Share owned. Pursuant to Paragraph (ai) of the definition of “Adjustment Factor, ,” the Adjustment Factor shall be adjusted on the Partnership Record Date, effective immediately after the stock dividend is declared, as follows:

EXAMPLES REGARDING ADJUSTMENT FACTOR. For purposes of the following examples, it is assumed that (a) the Adjustment Factor in effect on January 5December 31, 2022 2015 is 1.0 and (b) on July January 1, 2022 2016 (the “Partnership Company Record Date” for purposes of these examples), prior to the events described in the examples, there are 100 REIT Shares issued and outstanding. Example 1 On the Partnership Company Record Date, Federal Realty CLNY declares a dividend on its outstanding REIT Shares in REIT Shares. The amount of the dividend is one REIT Share paid in respect of each REIT Share owned. Pursuant to Paragraph (ai) of the definition of “Adjustment Factor, ,” the Adjustment Factor shall be adjusted on the Partnership Company Record Date, effective immediately after the stock dividend is declared, as follows: