The following table reconciles the numerator and denominator used in the computation of EPS for the three and nine months ended September 30, 2026 and 2025 (shares in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2026		2025		2026		2025
Numerator
Net loss	$	(16,137)	$	(89,995)	$	(79,883)	$	(182,693)
Less: net income (loss) attributable to noncontrolling interests	597		(2,635)		272		(4,304)
Net loss attributable to the Company	(16,734)		(87,360)		(80,155)		(178,389)
Allocation of earnings to participating securities	(214)		(194)		(642)		(581)
Numerator for basic and diluted EPS—net loss attributable to common stockholders	$	(16,948)	$	(87,554)	$	(80,797)	$	(178,970)
Denominator
Denominator for basic and diluted EPS—weighted average number of common shares outstanding(1)	284,079		254,130		272,037		253,407




EPS—net loss attributable to common stockholders
Basic and diluted	$	(0.06)	$	(0.34)	$	(0.30)	$	(0.71)

(1) Diluted EPS excludes 99,565 convertible preferred partnership units for each of the three and nine months ended September 30, 2026 and 2025, as their impact was antidilutive. Diluted EPS also excludes 11,296,332 and 10,714,464 Operating Partnership units ("OP Units") for the three months ended September 30, 2026 and 2025, respectively, and 11,320,541 and 10,817,668 OP Units for the nine months ended September 30, 2026 and 2025, respectively, as their impact was antidilutive.