Armada Hoffler Properties, Inc. Common Stock ($0.01 par value per share) ATM EQUITY OFFERINGSM SALES AGREEMENTTerms Agreement • May 5th, 2015 • Armada Hoffler Properties, Inc. • Real estate • New York
Armada Hoffler Properties, Inc., a Maryland corporation (the “Company”), and Armada Hoffler, L.P., a Virginia limited partnership (the “Operating Partnership” and, together with the Company, the “Transaction Entities”), propose that the Company, subject to the terms and conditions stated herein, may issue and sell from time to time to or through Merrill Lynch, Pierce, Fenner & Smith Incorporated, as sales agent and/or principal (the “Agent”), shares of the Company’s common stock, $0.01 par value per share (the “Common Stock”), having an aggregate gross sales price of up to $50,000,000 (the “Shares”), on the terms set forth in this ATM Equity OfferingSM Sales Agreement. The Company agrees that whenever it determines to sell Shares directly to the Agent as principal it will enter into a separate written Terms Agreement (each, a “Terms Agreement”), in substantially the form of Annex I hereto, relating to such sale in accordance with Section 2(k) hereof. References herein to “this Agreemen
