KBS Real Estate Investment Trust III extends loan maturities

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

The information in this Report set forth under Item 2.03 regarding the Accenture Tower Loan Sixth Modification Agreement and the 3001 & 3003 Washington Mortgage Loan Ninth Modification (both as defined below) is incorporated herein by reference.

ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT

Accenture Tower Loan

On November 2, 2020, KBS Real Estate Investment Trust III, Inc. ("KBS REIT III"), through an indirect wholly owned subsidiary (the "Accenture Tower Borrower"), entered into a loan facility with U.S. Bank, National Association, as administrative agent (the "Agent"), joint lead arranger and co-book runner; Bank of America, N.A., as syndication agent, joint lead arranger and co-book runner; and each of the financial institutions signatory thereto as lenders (as amended and modified, the "Accenture Tower Loan"). The current lenders under the Accenture Tower Loan are U.S. Bank, National Association, Bank of America, N.A., Deutsche Pfandbriefbank AG and the National Bank of Kuwait S.A.K.P. Grand Caymans Branch (the "Accenture Tower Lenders"). The Accenture Tower Loan is secured by Accenture Tower.

As previously disclosed, on December 20, 2024, KBS REIT III, through the Accenture Tower Borrower, entered into a fourth modification agreement with the Accenture Tower Lenders (the "Accenture Tower Loan Fourth Modification Agreement"). Pursuant to the Accenture Tower Loan Fourth Modification Agreement, the maturity date of the Accenture Tower Loan was extended to November 2, 2026, with an additional 12-month extension option available pursuant to the loan agreement, subject to certain terms and conditions contained in the loan documents.

On October 30, 2026, KBS REIT III, through the Accenture Tower Borrower, entered into a sixth modification agreement with the Accenture Tower Lenders (the "Accenture Tower Loan Sixth Modification Agreement") to extend the maturity date of the Accenture Tower Loan to December 17, 2026¹ with an option to further extend the maturity date of the Accenture Tower Loan to November 2, 2027², subject to the satisfaction of certain terms and conditions contained in the Accenture Tower Loan Sixth Modification Agreement (the "Accenture Tower Loan Extension Option"). Exercise of the Accenture Tower Loan Extension Option also requires the Accenture Tower Borrower to pay an extension fee in the amount of $0.4 million⁴. Additionally, pursuant to the Accenture Tower Loan Sixth Modification Agreement, effective November 2, 2026, the Accenture Tower Loan bears interest at one-month Term SOFR plus 325 basis points and upon effectiveness of the Accenture Tower Loan Extension Option, the Accenture Tower Loan bears interest at one-month Term SOFR plus 300 basis points. As of October 30, 2026, the outstanding principal balance of the Accenture Tower Loan was $317.4 million⁵ and $4.6 million of new funding was available for future disbursement, subject to certain terms and conditions contained in the loan documents.

3001 & 3003 Washington Mortgage Loan

On May 21, 2019, KBS REIT III, through indirect wholly owned subsidiaries (the "3001 & 3003 Washington Borrowers"), entered into a mortgage loan (as subsequently modified and amended, the "3001 & 3003 Washington Mortgage Loan") with Bank of America, N.A., as administrative agent and lender (the "3001 & 3003 Washington Lender"). The 3001 & 3003 Washington Mortgage Loan is secured by 3001 Washington Boulevard and 3003 Washington Boulevard.

As previously disclosed, on April 29, 2026, the 3001 & 3003 Washington Borrowers and KBS REIT Properties III, LLC , KBS REIT III's indirect wholly owned subsidiary ("REIT Properties III"), entered into a seventh modification and extension agreement of the 3001 & 3003 Washington Mortgage Loan with the 3001 & 3003 Washington Lender (the "3001 & 3003 Washington Mortgage Loan Seventh Modification"). Pursuant to the 3001 & 3003 Washington Mortgage Loan Seventh Modification, the maturity date of the 3001 & 3003 Washington Mortgage Loan was extended to August 4, 2026 with an option to further extend the maturity date of the 3001 & 3003 Washington Mortgage Loan to November 2, 2026, subject to the satisfaction of certain terms and conditions contained in the 3001 & 3003 Washington Mortgage Loan Seventh Modification (the "3001 & 3003 Washington Mortgage Loan Extension Option"). On August 4, 2026, KBS REIT III, through the 3001 & 3003 Washington Borrowers, entered into a letter agreement (the "Letter Agreement") with the 3001 & 3003 Washington Lender. The Letter Agreement waived certain conditions to exercising the 3001 & 3003 Washington Mortgage Loan Extension Option and extended the maturity date of the 3001 & 3003 Washington Mortgage Loan to November 2, 2026.

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On October 30, 2026, the 3001 & 3003 Washington Borrowers and REIT Properties III entered into a ninth modification and extension agreement of the 3001 & 3003 Washington Mortgage Loan with the 3001 & 3003 Washington Lender (the "3001 & 3003 Washington Mortgage Loan Ninth Modification") to extend the maturity date of the 3001 & 3003 Washington Mortgage Loan to January 20, 2027¹, with no further extension options³. Notwithstanding the foregoing, the 3001 & 3003 Washington Lender may declare a default and accelerate the loan prior to the maturity date if the 3001 & 3003 Washington Lender determines, in its reasonable discretion, that a refinancing is unlikely to be completed by the maturity date on the terms the 3001 & 3003 Washington Mortgage Loan Ninth Modification requires. The 3001 & 3003 Washington Borrowers paid a $0.1 million extension fee⁴. As of October 30, 2026, the outstanding principal balance of the 3001 & 3003 Washington Mortgage Loan was $137.8 million⁵.

KBS REIT III is pursuing a refinancing of the Accenture Tower Loan and the 3001 & 3003 Washington Mortgage Loan; however, there can be no assurance as to the certainty or timing of KBS REIT III's plans⁶.

Forward-Looking Statements

Certain statements included in this Current Report on Form 8-K are forward-looking statements. Those statements include statements regarding the intent, belief or current expectations of KBS REIT III and members of its management team, as