Financial Data and Key Metrics Changes - The company generated FFO as adjusted per share of $1.93 for the full year, representing a 29% increase over 2021 and exceeding the midpoint of original 2022 guidance by $0.21 [69][74] - Same-property NOI growth for the full year was 5.1%, with a fourth-quarter growth of 6.2% driven by a 420 basis point increase in minimum rent and recoveries [93][94] - The net debt-to-EBITDA ratio improved to 5.2x, indicating a strong balance sheet [70][75] Business Line Data and Key Metrics Changes - The company leased nearly 4.9 million square feet with a 12.6% blended comparable cash leasing spread, showcasing strong demand for its retail spaces [70] - The company opened 245 new tenants, contributing approximately $40 million of annualized NOI [71] Market Data and Key Metrics Changes - The company reported a 90% leased and 86% occupied rate, indicating a healthy occupancy level [4] - The company noted a strong demand from various anchor tenants, including ALDI, Lidl, and Trader Joe's, reflecting a robust retail environment [90] Company Strategy and Development Direction - The company aims to close the 150 basis point spread between current and pre-COVID leased rates, focusing on internal growth through leasing [71] - The strategy includes a measured approach to future development opportunities, with only $44 million remaining for active developments [72] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to navigate an uncertain macro environment while focusing on leasing space [71] - The company anticipates potential disruptions from Bed Bath & Beyond and Party City but remains optimistic about overall retail demand [90][94] Other Important Information - The company has a $33 million signed-not-open pipeline to buffer against potential tenant disruptions in 2023 [71] - Management highlighted the importance of maintaining flexibility in capital allocation, focusing on leasing and potential acquisitions [78] Q&A Session Summary Question: What is the company's long-term target leverage level? - The company targets low to mid-5s for leverage and is currently at 5.2x, indicating a strong balance sheet [77] Question: What are the assumptions behind the guidance for 2023? - The guidance includes a same-property NOI growth of 2.5%, a bad debt assumption of 125 basis points, and an additional 75 basis points of assumed disruption from Bed Bath & Beyond and Party City [94][144] Question: How is the company addressing potential store closures from troubled tenants? - The company identified three potential closures from Bed Bath & Beyond and is actively negotiating with interested tenants for those spaces [107]

TRIANGULATING VALUE KRG 4Q 2022 NAV Page Cap Rate: 5.75% - 6.75% NAV: $25 - $32 Cap Rate: 6.7% NAV: $26.70 Analyst Consensus Stock Price at Peer Average FFO Multiple: $26.03 Implied Cap Rate: 6.6% KITE REALTY GROUP POTENTIAL NAV | --- | --- | --- | |---------------------------------------|-------------------------------------------------------|---------------------------| | | NAV COMPONENTS AS OF 4Q'22 \nIN-PLACE NAV COMPONENTS | POTENTIAL NAV COMPONENTS | | Annualized Portfolio Cash NOI | $586M | $609M | | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-32268 Kite Realty Group Trust Commission File Number: 333-202666-01 Kite Realty Group, L.P. KITE REALTY GROUP TRUST KITE REALTY GROUP, ...

Kite Realty Group Trust (NYSE:KRG) Q3 2022 Earnings Conference Call November 3, 2022 11:00 AM ET Company Participants Bryan McCarthy - SVP, Marketing and Communications John Kite - Chairman and CEO Tom McGowan - President and COO Heath Fear - EVP and CFO Conference Call Participants Todd Thomas - KeyBanc Capital Markets Craig Mailman - Citi Jeff Spector - Bank of America Wes Golladay - Baird Connor Mitchell - Piper Sandler Linda Tsai - Jefferies Christopher Lucas - Capital One Paulina Rojas Schmidt - Green ...

KÍTE DITION VILLAGE CENTER MSA: Port St. Lucie, FL HOLLY SPRINGS TOWNE CENTER MSA: Raleigh, NC ONE LOUDOUN DOWNTOWN MSA: Washington, D.C. / Baltimore SOUTHLAKE TOWN SQUARE MSA: Dallas / Fort Worth, TX KITE REALTY GROUP INVESTOR UPDATE Q3 2022 KRG © 2022 Kite Realty Group | kiterealty.com LISTED NYSE Number of Operating Retail Properties Total Owned Retail GLA (SF) Operating Retail Portfolio Percent Leased Annualized Base Rent (ABR) per SF % of ABR from assets with a grocery component1 | --- | --- | |------- ...

Financial Data and Key Metrics Changes - Kite Realty Group achieved FFO per share of $0.49, exceeding consensus estimates by $0.06, representing a 44% year-over-year increase [8][24][29] - Same-property NOI growth for the quarter was 3.8%, with a year-to-date growth of 4.9% [9][30] - Net debt to EBITDA improved to 5.3x, down from 5.7x in the previous quarter and 6.4x from the same period in 2021 [33][34] Business Line Data and Key Metrics Changes - The company signed 206 leases totaling nearly 1.2 million square feet in the quarter, with blended cash spreads for comparable new and renewal leases at 13.2% [10][11] - Retention ratio for the quarter and year-to-date remained high at 90% [11] - The signed-not-open pipeline is valued at $41 million, with additional growth opportunities expected from leasing active developments [13][15] Market Data and Key Metrics Changes - The company reported strong leasing demand across its portfolio, with record low retail bankruptcies and high leasing volumes [12][25] - The average household income within a 3-mile radius of properties increased by 13%, and the population grew by 34% [25][24] Company Strategy and Development Direction - The company is focused on delivering its signed-not-open pipeline and enhancing its portfolio through strategic acquisitions and developments [13][21] - The company aims to leverage its strong balance sheet to capitalize on market opportunities while maintaining a disciplined approach to capital allocation [34][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for retail space and the company's ability to navigate macroeconomic challenges [7][73] - The company raised its 2022 FFO guidance to a range of $1.80 to $1.86 per share and same-property NOI growth assumption to 3.5% to 4.5% [26][31] Other Important Information - The company completed $102 million in acquisitions and $66 million in dispositions year-to-date, with a blended cap rate on acquisitions at 5.75% [17][18] - The company is in discussions to add up to 1,000 multifamily units through joint ventures [19] Q&A Session Summary Question: Comments on stock price despite strong performance - Management acknowledged the market's cautious approach post-merger but emphasized the strong operational performance and potential for stock price appreciation [40][41][42] Question: Future capital deployment opportunities - Management indicated a focus on pairing trades and capitalizing on market disconnects while continuing to invest in leasing and development [46][47][49] Question: Lease to occupied spread contraction - Management explained that the contraction was due to the mix of deals being signed and opened, with expectations for continued strong leasing activity [56] Question: Update on bad debt expectations - Management lowered bad debt expectations to 1% of revenues, reflecting improved collection rates and a smaller watch list [57][58] Question: SNO pipeline growth expectations - Management expects the SNO pipeline to remain steady, with significant rent commencements anticipated in the coming quarters [62] Question: Retail demand and tenant performance - Management reported strong demand across various tenant categories, with no significant weakness observed in the retail sector [72][73][76] Question: Recovery metrics from RPAI portfolio - Management noted improvements in recovery ratios due to operational efficiencies and the conversion of leases to fixed CAM [83][84] Question: Balance sheet and refinancing plans - Management indicated confidence in refinancing maturing debt at favorable rates, with expectations for neutral interest expense impact [96][99] Question: Monitoring tenant performance for weakness - Management stated that they are not currently seeing significant weakness among tenants, with a focus on monitoring specific segments [107][108]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-32268 Kite Realty Group Trust Commission File Number: 333-202666-01 Kite Realty Group, L.P. KITE REALTY GROUP TRUST KITE REALTY GROUP, L.P. ...

| --- | --- | --- | --- | --- | --- | --- | |-------|--------------------------------------------------|---------------------------------------------------------------------|----------------------------------------------------------------------|-------|--------------------------------------------|---------| | | | | | | | | | | | | | | | | | | THE LANDING AT TRADITION MSA: Port St. Lucie, FL | SOUTHLAKE TOWN SQUARE MSA: Dallas/Ft. Worth, TX MSA: South Bend, IN | RAMPART COMMONS MSA: Las Vegas, NV EDDY STREET ...

© 2021 Kite Realty Group | kiterealty.com KOTE BRPAI KITE REALTY GROUP + RPAI STRATEGIC MERGER Investor Presentation © 2021 Kite Realty Group | kiterealty.com NYSE KRG KITE REALTY GROUP SAFE HARBOR Forward Looking Statements This communication contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the proposed transaction between Kite Re ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q KITE REALTY GROUP TRUST KITE REALTY GROUP, L.P. (Exact name of registrant as specified in its charter) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware Kite Realty Group, L.P. 20-1453863 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Num ...