YALE UNIVERSITY

SEC source: 0001123292-18-001113 · edgar.xml · nonDerivative · entry 3

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 3,871,118

F4 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. Each of the transactions reflected in Column 4 of Table I represents the sale of Common Shares by the LLCs on a pro rata basis.

F3 · price: The price reported in Column 4 reflects a weighted average price of $38.0431. These shares were sold in multiple transactions at prices ranging from $38.00 to $38.215 inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 3.

F4 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. Each of the transactions reflected in Column 4 of Table I represents the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001113 · edgar.xml · nonDerivative · entry 2

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 3,891,718

F4 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. Each of the transactions reflected in Column 4 of Table I represents the sale of Common Shares by the LLCs on a pro rata basis.

F2 · price: The price reported in Column 4 reflects a weighted average price of $38.271. These shares were sold in multiple transactions at prices ranging from $38.00 to $38.67, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 2.

F4 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. Each of the transactions reflected in Column 4 of Table I represents the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001113 · edgar.xml · nonDerivative · entry 1

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 3,906,951

F4 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. Each of the transactions reflected in Column 4 of Table I represents the sale of Common Shares by the LLCs on a pro rata basis.

F1 · price: The price reported in Column 4 reflects a weighted average price of $38.3861. These shares were sold in multiple transactions at prices ranging from $38.21 to $39.065, inclusive. The reporting person undertakes to provide to JBG SMITH Properties (the "Issuer"), any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1.

F4 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. Each of the transactions reflected in Column 4 of Table I represents the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001105 · edgar.xml · nonDerivative · entry 4

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,037,951

F5 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

F4 · price: The price reported in Column 4 reflects a weighted average price of $39.798. These shares were sold in multiple transactions at prices ranging from $39.48 to $40.325, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 4.

F5 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001105 · edgar.xml · nonDerivative · entry 3

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,110,704

F5 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

F3 · price: The price reported in Column 4 reflects a weighted average price of $39.3568. These shares were sold in multiple transactions at prices ranging from $39.245 to $39.47, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 3.

F5 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001105 · edgar.xml · nonDerivative · entry 2

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,184,864

F5 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

F2 · price: The price reported in Column 4 reflects a weighted average price of $40.0905. These shares were sold in multiple transactions at prices ranging from $39.81 to $40.27, inclusive. The reporting person undertakes to provide to JBG SMITH Properties (the "Issuer"), any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 2.

F5 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001105 · edgar.xml · nonDerivative · entry 1

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,261,764

F5 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

F1 · price: The price reported in Column 4 reflects a weighted average price of $39.39. These shares were sold in multiple transactions at prices ranging from $38.885 to $39.805, inclusive. The reporting person undertakes to provide to JBG SMITH Properties (the "Issuer"), any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1.

F5 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001101 · edgar.xml · nonDerivative · entry 3

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,334,864

F4 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

F3 · price: The price reported in Column 4 reflects a weighted average price of $39.96. These shares were sold in multiple transactions at prices ranging from $39.82 to $40.525, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 3.

F4 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001101 · edgar.xml · nonDerivative · entry 2

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,392,952

F4 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

F2 · price: The price reported in Column 4 reflects a weighted average price of $39.63. These shares were sold in multiple transactions at prices ranging from $39.425 to $39.815, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 2.

F4 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001101 · edgar.xml · nonDerivative · entry 1

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,434,864

F4 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

F1 · price: The price reported in Column 4 reflects a weighted average price of $40.1728. These shares were sold in multiple transactions at prices ranging from $39.91 to $40.325, inclusive. The reporting person undertakes to provide to JBG SMITH Properties (the "Issuer"), any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1.

F4 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001099 · edgar.xml · nonDerivative · entry 2

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,494,864

F3 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

F2 · price: The price reported in Column 4 reflects a weighted average price of $39.8349. These shares were sold in multiple transactions at prices ranging from $40.11 to $39.31, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 2.

F3 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001099 · edgar.xml · nonDerivative · entry 1

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,549,864

F3 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

F1 · price: The price reported in Column 4 reflects a weighted average price of $39.4047. These shares were sold in multiple transactions at prices ranging from $39.715 to $39.055, inclusive. The reporting person undertakes to provide to JBG SMITH Properties (the "Issuer"), any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1.

F3 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001089 · edgar.xml · nonDerivative · entry 2

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,595,256

F3 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. Each of the transactions reflected in Column 4 of Table I represents the sale of Common Shares by the LLCs on a pro rata basis.

F2 · price: The price reported in Column 4 reflects a weighted average price of $39.1958. These shares were sold in multiple transactions at prices ranging from $38.97 to $39.44, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 2.

F3 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. Each of the transactions reflected in Column 4 of Table I represents the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001089 · edgar.xml · nonDerivative · entry 1

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,648,535

F3 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. Each of the transactions reflected in Column 4 of Table I represents the sale of Common Shares by the LLCs on a pro rata basis.

F1 · price: The price reported in Column 4 reflects a weighted average price of $39.0737. These shares were sold in multiple transactions at prices ranging from $38.535 to $39.31, inclusive. The reporting person undertakes to provide to JBG SMITH Properties (the "Issuer"), any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1.

F3 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. Each of the transactions reflected in Column 4 of Table I represents the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001087 · edgar.xml · nonDerivative · entry 3

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,748,535

F4 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

F3 · price: The price reported in Column 4 reflects a weighted average price of $39.8847. These shares were sold in multiple transactions at prices ranging from $39.60 to $40.38, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 3.

F4 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001087 · edgar.xml · nonDerivative · entry 2

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,777,335

F4 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

F2 · price: The price reported in Column 4 reflects a weighted average price of $39.2913. These shares were sold in multiple transactions at prices ranging from $39.11 to $39.57, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 2.

F4 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001087 · edgar.xml · nonDerivative · entry 1

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,823,535

F4 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

F1 · price: The price reported in Column 4 reflects a weighted average price of $39.9929. These shares were sold in multiple transactions at prices ranging from $39.74 to $40.19, inclusive. The reporting person undertakes to provide to JBG SMITH Properties (the "Issuer"), any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1.

F4 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transactions reflected in Column 4 of Table I represent the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001077 · edgar.xml · nonDerivative · entry 1

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,874,535

F2 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transaction reflected in Column 4 represents the sale of Common Shares by the LLCs on a pro rata basis.

F1 · price: The price reported in Column 4 reflects a weighted average price of $40.0447. These shares were sold in multiple transactions at prices ranging from $39.92 to $40.24, inclusive. The reporting person undertakes to provide to JBG SMITH Properties (the "Issuer"), any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1.

F2 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transaction reflected in Column 4 represents the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001073 · edgar.xml · nonDerivative · entry 1

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 4,974,535

F2 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transaction reflected in Column 4 represents the sale of Common Shares by the LLCs on a pro rata basis.

F1 · price: The price reported in Column 4 reflects a weighted average price of $40.1949. These shares were sold in multiple transactions at prices ranging from $39.88 to $40.685, inclusive. The reporting person undertakes to provide to JBG SMITH Properties (the "Issuer"), any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1.

F2 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transaction reflected in Column 4 represents the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-001072 · edgar.xml · nonDerivative · entry 1

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 5,074,535

F2 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transaction reflected in Column 4 represents the sale of Common Shares by the LLCs on a pro rata basis.

F1 · price: The price reported in Column 4 reflects a weighted average price of $40.4789. These shares were sold in multiple transactions at prices ranging from $40.34 to $40.625, inclusive. The reporting person undertakes to provide to JBG SMITH Properties (the "Issuer"), any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1.

F2 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transaction reflected in Column 4 represents the sale of Common Shares by the LLCs on a pro rata basis.

SEC source: 0001123292-18-000825 · edgar.xml · nonDerivative · entry 1

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 5,104,535

F2 · shares: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transaction reflected in Column 4 represents the sale of 40,533 Common Shares by five of the LLCs.

F1 · price: The price reported in Column 4 reflects a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.00 to 38.38, inclusive. The reporting person undertakes to provide to JBG SMITH Properties (the "Issuer"), any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 1.

F2 · ownership.nature: The Issuer previously issued to ten limited liability companies (the "LLCs") controlled by the reporting person common shares, par value $0.01 ("Common Shares"), of the Issuer as consideration for the contribution of certain assets by The JBG Companies and investment funds associated with The JBG Companies to the Issuer or its subsidiaries in connection with a previously completed business combination transaction. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein. The transaction reflected in Column 4 represents the sale of 40,533 Common Shares by five of the LLCs.

SEC source: 0001123292-18-000743 · edgar.xml · derivative · entry 1

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By employee

Disclosed balance after: 9,315

Underlying: Common Shares · 2,577 shares

Expires not disclosed

F1 · derivative.exercise_price: Represents a grant of limited partnership units of JBG Smith Properties LP, JBG Smith Properties' (the "Issuer's") operating partnership (the "OP"), designated as LTIP Units ("LTIP Units") pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan received by an employee of the reporting person who serves as a member of the Issuer's Board of Trustees (the "Board") in such employee's capacity as a trustee. These LTIP Units are a class of units in the OP that are convertible at the option of the holder, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into an equal number of Operating Partnership Units ("OP Units") in the OP. [footnote cont'd]

F2 · derivative.exercise_price: [continuation] The resulting OP Units are redeemable by the holder for one common share of the Issuer, par value $0.01 (a "Common Share"), per OP Unit or the cash value of a Common Share, at the Issuer's option, after the two year anniversary of the LTIP issuance. The LTIP Units were fully vested on the date of grant but may not be sold while the reporting person serves as a trustee, except in certain circumstances. Pursuant to an arrangement between the reporting person and such employee, the reporting person is entitled to receive, as of or prior to the time such employee ceases to serve as a trustee of the Issuer, all LTIP Units and other equity awards acquired by the employee while employed by the reporting person.

F1 · price: Represents a grant of limited partnership units of JBG Smith Properties LP, JBG Smith Properties' (the "Issuer's") operating partnership (the "OP"), designated as LTIP Units ("LTIP Units") pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan received by an employee of the reporting person who serves as a member of the Issuer's Board of Trustees (the "Board") in such employee's capacity as a trustee. These LTIP Units are a class of units in the OP that are convertible at the option of the holder, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into an equal number of Operating Partnership Units ("OP Units") in the OP. [footnote cont'd]

F2 · price: [continuation] The resulting OP Units are redeemable by the holder for one common share of the Issuer, par value $0.01 (a "Common Share"), per OP Unit or the cash value of a Common Share, at the Issuer's option, after the two year anniversary of the LTIP issuance. The LTIP Units were fully vested on the date of grant but may not be sold while the reporting person serves as a trustee, except in certain circumstances. Pursuant to an arrangement between the reporting person and such employee, the reporting person is entitled to receive, as of or prior to the time such employee ceases to serve as a trustee of the Issuer, all LTIP Units and other equity awards acquired by the employee while employed by the reporting person.

F1 · derivative.exercise_date: Represents a grant of limited partnership units of JBG Smith Properties LP, JBG Smith Properties' (the "Issuer's") operating partnership (the "OP"), designated as LTIP Units ("LTIP Units") pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan received by an employee of the reporting person who serves as a member of the Issuer's Board of Trustees (the "Board") in such employee's capacity as a trustee. These LTIP Units are a class of units in the OP that are convertible at the option of the holder, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into an equal number of Operating Partnership Units ("OP Units") in the OP. [footnote cont'd]

F2 · derivative.exercise_date: [continuation] The resulting OP Units are redeemable by the holder for one common share of the Issuer, par value $0.01 (a "Common Share"), per OP Unit or the cash value of a Common Share, at the Issuer's option, after the two year anniversary of the LTIP issuance. The LTIP Units were fully vested on the date of grant but may not be sold while the reporting person serves as a trustee, except in certain circumstances. Pursuant to an arrangement between the reporting person and such employee, the reporting person is entitled to receive, as of or prior to the time such employee ceases to serve as a trustee of the Issuer, all LTIP Units and other equity awards acquired by the employee while employed by the reporting person.

F1 · derivative.expiration_date: Represents a grant of limited partnership units of JBG Smith Properties LP, JBG Smith Properties' (the "Issuer's") operating partnership (the "OP"), designated as LTIP Units ("LTIP Units") pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan received by an employee of the reporting person who serves as a member of the Issuer's Board of Trustees (the "Board") in such employee's capacity as a trustee. These LTIP Units are a class of units in the OP that are convertible at the option of the holder, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into an equal number of Operating Partnership Units ("OP Units") in the OP. [footnote cont'd]

F2 · derivative.expiration_date: [continuation] The resulting OP Units are redeemable by the holder for one common share of the Issuer, par value $0.01 (a "Common Share"), per OP Unit or the cash value of a Common Share, at the Issuer's option, after the two year anniversary of the LTIP issuance. The LTIP Units were fully vested on the date of grant but may not be sold while the reporting person serves as a trustee, except in certain circumstances. Pursuant to an arrangement between the reporting person and such employee, the reporting person is entitled to receive, as of or prior to the time such employee ceases to serve as a trustee of the Issuer, all LTIP Units and other equity awards acquired by the employee while employed by the reporting person.

F1 · ownership.nature: Represents a grant of limited partnership units of JBG Smith Properties LP, JBG Smith Properties' (the "Issuer's") operating partnership (the "OP"), designated as LTIP Units ("LTIP Units") pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan received by an employee of the reporting person who serves as a member of the Issuer's Board of Trustees (the "Board") in such employee's capacity as a trustee. These LTIP Units are a class of units in the OP that are convertible at the option of the holder, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into an equal number of Operating Partnership Units ("OP Units") in the OP. [footnote cont'd]

F2 · ownership.nature: [continuation] The resulting OP Units are redeemable by the holder for one common share of the Issuer, par value $0.01 (a "Common Share"), per OP Unit or the cash value of a Common Share, at the Issuer's option, after the two year anniversary of the LTIP issuance. The LTIP Units were fully vested on the date of grant but may not be sold while the reporting person serves as a trustee, except in certain circumstances. Pursuant to an arrangement between the reporting person and such employee, the reporting person is entitled to receive, as of or prior to the time such employee ceases to serve as a trustee of the Issuer, all LTIP Units and other equity awards acquired by the employee while employed by the reporting person.

SEC source: 0001123292-17-001323 · edgar.xml · derivative · entry 2

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By employee

Disclosed balance after: 6,738

Underlying: Common Shares · 6,738 shares

Expires not disclosed

F2 · derivative.exercise_price: Represents a grant of limited partnership units of JBG Smith Properties LP, the Issuer's operating partnership (the "OP"), designated as LTIP Units ("LTIP Units"), issued pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan, received by an employee of the reporting person who serves as a member of the Issuer's Board of Trustees (the "Board") in such employee's capacity as a trustee. The LTIP Units are a class of units in the OP that are convertible at the option of the holder, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into an equal number of common units of the OP ("OP Units"). OP Units are redeemable by the holder for one Common Share per OP Unit or the cash value of a Common Share, at the Issuer's option, after the two year anniversary of the LTIP issuance. [footnote continued]

F3 · derivative.exercise_price: [Continued from footnote] The LTIP Units were fully vested on the date of grant but may not be sold while the holder serves as a trustee, except in certain circumstances. Pursuant to an arrangement between the reporting person and such employee, the reporting person is entitled to receive, as of or prior to the time such employee ceases to serve as a trustee of the Issuer, all LTIP Units and other equity awards acquired by the employee while employed by the reporting person.

F2 · price: Represents a grant of limited partnership units of JBG Smith Properties LP, the Issuer's operating partnership (the "OP"), designated as LTIP Units ("LTIP Units"), issued pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan, received by an employee of the reporting person who serves as a member of the Issuer's Board of Trustees (the "Board") in such employee's capacity as a trustee. The LTIP Units are a class of units in the OP that are convertible at the option of the holder, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into an equal number of common units of the OP ("OP Units"). OP Units are redeemable by the holder for one Common Share per OP Unit or the cash value of a Common Share, at the Issuer's option, after the two year anniversary of the LTIP issuance. [footnote continued]

F3 · price: [Continued from footnote] The LTIP Units were fully vested on the date of grant but may not be sold while the holder serves as a trustee, except in certain circumstances. Pursuant to an arrangement between the reporting person and such employee, the reporting person is entitled to receive, as of or prior to the time such employee ceases to serve as a trustee of the Issuer, all LTIP Units and other equity awards acquired by the employee while employed by the reporting person.

F2 · derivative.exercise_date: Represents a grant of limited partnership units of JBG Smith Properties LP, the Issuer's operating partnership (the "OP"), designated as LTIP Units ("LTIP Units"), issued pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan, received by an employee of the reporting person who serves as a member of the Issuer's Board of Trustees (the "Board") in such employee's capacity as a trustee. The LTIP Units are a class of units in the OP that are convertible at the option of the holder, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into an equal number of common units of the OP ("OP Units"). OP Units are redeemable by the holder for one Common Share per OP Unit or the cash value of a Common Share, at the Issuer's option, after the two year anniversary of the LTIP issuance. [footnote continued]

F3 · derivative.exercise_date: [Continued from footnote] The LTIP Units were fully vested on the date of grant but may not be sold while the holder serves as a trustee, except in certain circumstances. Pursuant to an arrangement between the reporting person and such employee, the reporting person is entitled to receive, as of or prior to the time such employee ceases to serve as a trustee of the Issuer, all LTIP Units and other equity awards acquired by the employee while employed by the reporting person.

F2 · derivative.expiration_date: Represents a grant of limited partnership units of JBG Smith Properties LP, the Issuer's operating partnership (the "OP"), designated as LTIP Units ("LTIP Units"), issued pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan, received by an employee of the reporting person who serves as a member of the Issuer's Board of Trustees (the "Board") in such employee's capacity as a trustee. The LTIP Units are a class of units in the OP that are convertible at the option of the holder, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into an equal number of common units of the OP ("OP Units"). OP Units are redeemable by the holder for one Common Share per OP Unit or the cash value of a Common Share, at the Issuer's option, after the two year anniversary of the LTIP issuance. [footnote continued]

F3 · derivative.expiration_date: [Continued from footnote] The LTIP Units were fully vested on the date of grant but may not be sold while the holder serves as a trustee, except in certain circumstances. Pursuant to an arrangement between the reporting person and such employee, the reporting person is entitled to receive, as of or prior to the time such employee ceases to serve as a trustee of the Issuer, all LTIP Units and other equity awards acquired by the employee while employed by the reporting person.

F2 · ownership.nature: Represents a grant of limited partnership units of JBG Smith Properties LP, the Issuer's operating partnership (the "OP"), designated as LTIP Units ("LTIP Units"), issued pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan, received by an employee of the reporting person who serves as a member of the Issuer's Board of Trustees (the "Board") in such employee's capacity as a trustee. The LTIP Units are a class of units in the OP that are convertible at the option of the holder, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into an equal number of common units of the OP ("OP Units"). OP Units are redeemable by the holder for one Common Share per OP Unit or the cash value of a Common Share, at the Issuer's option, after the two year anniversary of the LTIP issuance. [footnote continued]

F3 · ownership.nature: [Continued from footnote] The LTIP Units were fully vested on the date of grant but may not be sold while the holder serves as a trustee, except in certain circumstances. Pursuant to an arrangement between the reporting person and such employee, the reporting person is entitled to receive, as of or prior to the time such employee ceases to serve as a trustee of the Issuer, all LTIP Units and other equity awards acquired by the employee while employed by the reporting person.

SEC source: 0001123292-17-001323 · edgar.xml · nonDerivative · entry 1

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 5,145,068

F1 · price: These common shares, par value $0.01 ("Common Shares"), of JBG Smith Properties (the "Issuer") were issued to ten limited liability companies (the "LLCs") controlled by the reporting person, as consideration for the contribution of certain assets by The JBG Companies ("JBG") and investment funds associated with JBG (the "Funds") to the Issuer or its subsidiaries, proportionately with each LLC's equity interest in such Funds. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein.

F1 · ownership.nature: These common shares, par value $0.01 ("Common Shares"), of JBG Smith Properties (the "Issuer") were issued to ten limited liability companies (the "LLCs") controlled by the reporting person, as consideration for the contribution of certain assets by The JBG Companies ("JBG") and investment funds associated with JBG (the "Funds") to the Issuer or its subsidiaries, proportionately with each LLC's equity interest in such Funds. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein.

SEC source: 0001123292-17-001384 · edgar.xml · nonDerivative · entry 1

YALE UNIVERSITY · CIK 0000938582 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By LLCs

Disclosed balance after: 5,145,068

F1 · price: This Form 4/A is being filed to provide the price of the common shares, par value $0.01 (the "Common Shares"), of JBG Smith Properties (the "Issuer") acquired by the reporting person as described in Note 2 below.

F2 · price: The Common Shares were issued to ten limited liability companies (the "LLCs") controlled by the reporting person, as consideration for the contribution of certain assets by The JBG Companies ("JBG") and investment funds associated with JBG (the "Funds") to the Issuer or its subsidiaries, proportionately with each LLC's equity interest in such Funds, in connection with the consummation of such contributions and related business combination transactions involving the Issuer. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein.

F2 · ownership.nature: The Common Shares were issued to ten limited liability companies (the "LLCs") controlled by the reporting person, as consideration for the contribution of certain assets by The JBG Companies ("JBG") and investment funds associated with JBG (the "Funds") to the Issuer or its subsidiaries, proportionately with each LLC's equity interest in such Funds, in connection with the consummation of such contributions and related business combination transactions involving the Issuer. The reporting person is, directly or indirectly, the sole or majority owner of the membership interests of each of the LLCs. The reporting person disclaims beneficial ownership of the Common Shares except to the extent of its pecuniary interest therein.