| --- | --- | --- | |-------|-----------------------------------------------------------------------------------------------------|-------| | | Nareit REITworld – November 2022 Investor Presentation Grocery Centered. Community Focused. | | | | | | | | | | | | | | Safe Harbor and Non-GAAP Disclosures Nasdag Listed PECO's Safe Harbor Statement Certain statements contained in this presentation ("we," the "Company," "our," or "us") other than historical facts may be considered forward-looking statements within ...

Financial Data and Key Metrics Changes - Third quarter 2022 Nareit FFO increased by 26.4% to $72 million or $0.55 per diluted share, benefiting from increased rental income and reduced interest expense [42] - Core FFO increased by 15.4% to $76.6 million, driven by higher occupancy levels and strong leasing spreads [42] - Same-center NOI increased to $92.5 million, up 4.3% from a year ago, primarily due to higher occupancy and increased average base rent per square foot [43] Business Line Data and Key Metrics Changes - Record occupancy level reached 97.1%, driving measurable growth in financial results [19] - Over 70% of rents come from necessity-based goods and services, with grocery sales in the U.S. growing by 8.4% year-to-date [20] - Average in-line neighbor health ratio stands at 10%, with expectations for incremental growth [60] Market Data and Key Metrics Changes - Suburban markets are gaining at the expense of urban markets, with retailers experiencing higher visits per location in suburban areas [30][28] - Migration trends since 2018 have made secondary markets more appealing for retailers, leading to increased demand in these areas [28][30] Company Strategy and Development Direction - The company focuses on owning grocery-anchored neighborhood shopping centers, capitalizing on structural and macroeconomic trends [9] - Future organic growth is expected from increased occupancy, contractual rent increases, and redevelopment activities [12] - The company is targeting an unlevered IRR of 9% and above for new acquisitions, reflecting a cautious approach in the current market [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledges inflationary impacts and higher interest rates but believes the portfolio is well-positioned for a recession [10] - The company has a strong balance sheet, low leverage, and is located in growing markets, providing a competitive advantage [15] - Management remains optimistic about the grocery sector's performance, with grocers expected to continue driving foot traffic to centers [56] Other Important Information - The proposed merger between Kroger and Albertsons is viewed positively, as it strengthens the largest neighbor and enhances profitability [16] - The company has 17 projects under active construction, with an estimated total investment of $55 million and expected yields between 10% and 12% [36] Q&A Session Summary Question: Broader transaction market and cap rates - Management noted that the market is shifting to a buyer's market, with cap rates expanding and a focus on IRR rather than cap rates [52][53] Question: Impact of food inflation on grocer tenants - Foot traffic remains constant, but average spend per visit is higher, with grocers seeing sales increases and holding margins [55][56] Question: Health ratio for in-line tenants - The health ratio has held consistently at 10%, with potential for growth to around 12% as sales continue to grow [60][61] Question: Competition in the acquisition market - Competition has decreased significantly, with fewer active buyers compared to a year ago, making it more favorable for the company [78][81] Question: Impact of propco deal on the portfolio - Management is closely monitoring the situation, emphasizing the importance of having strong operators for grocery stores [84][85] Question: Out of period collections and bad debt - The company is back to normal levels of collections, with bad debt expected to return to historical levels in 2023 [90][91] Question: Assumptions for IRR calculations - IRR calculations are project-specific, with a focus on operational performance and maintaining or expanding cap rates [94][96] Question: $1 billion investment plan - The company is on track to meet its $1 billion acquisition target, with sufficient balance sheet capacity to pursue opportunities [110]

| --- | --- | --- | |-------|---------------------------------------------------|-------| | | | | | | | | | | Q3 2022 Investor Presentation Grocery Centered. | | | | Community Focused. | | | | | | | | | | | | | | | | | | Safe Harbor and Non-GAAP Disclosures Nasdag Listed PECO's Safe Harbor Statement Certain statements contained in this presentation ("we," the "Company," "our," or "us") other than historical facts may be considered forward-looking statements within the meaning of Section 27A of the Securitie ...

Phillips Edison & Company Inc. (NASDAQ:PECO) Q2 2022 Earnings Conference Call August 5, 2022 12:00 PM ET Company Participants Kimberly Green - VP, IR Jeff Edison - Chairman and CEO Devin Murphy - President John Caulfield - CFO Conference Call Participants Craig Schmidt - Bank of America Hyoung Jhang - JPMorgan Floris van Dijkum - Compass Point Tayo Okusanya - Credit Suisse Operator Good morning, and welcome to Phillips Edison & Company’s Second Quarter 2022 Results Presentation. My name is Tanya and I will ...

| --- | --- | --- | |-------|-------------------------------------------------------------------------------------|-------| | | | | | | | | | | | | | | Q2 2022 Investor Presentation August 2022 Grocery Centered. Community Focused. | | | | | | | | | | | | | | Disclaimer / Forward-Looking Disclosure PECO | Nasdag Listed Certain statements contained in this presentation ("we," the "Company," "our," or "us") other than historical facts may be considered forward-looking statements within the meaning of Section 2 ...

(Exact name of registrant as specified in its charter) FORM 10-Q (Mark One) ☑ 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: 000-54691 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 PHILLIPS EDISON & COMPANY, INC. Maryland 27-1106076 (St ...

Phillips Edison & Company, Inc. (NASDAQ:PECO) Q1 2022 Earnings Conference Call May 6, 2022 12:00 PM ET Company Participants Stephanie Hout – Director-Investor Relations Jeff Edison – Chairman and Chief Executive Officer Devin Murphy – President John Caulfield – Chief Financial Officer Conference Call Participants Craig Schmidt – Bank of America Caitlin Burrows – Goldman Sachs Richard Hill – Morgan Stanley Floris van Dijkum – Compass Point Mike Mueller – JPMorgan Todd Thomas – KeyBanc Capital Markets Tammy F ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ 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: 000-54691 PHILLIPS EDISON & COMPANY, INC. (Exact name of registrant as specified in its charter) (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR FORM 10-Q Maryland 27-1106076 In ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 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 000-54691 PHILLIPS EDISON & COMPANY, INC. (Exact name of registrant as specified in its charter) Maryland 27-1106076 (State o ...

Financial Data and Key Metrics Changes - Fourth quarter 2021 NAREIT FFO increased 7.3% to $49.4 million or $0.39 per diluted share, while core FFO increased 24.5% to $60.8 million or $0.47 per diluted share [31][34] - Same-center NOI improved to $88.8 million, up 15.2% from a year ago, driven by a 2.4% increase in average base rent per square foot and stronger collections [37][41] - As of December 31, 2021, net debt to adjusted EBITDAre was 5.6x, improved from 7.3x at December 31, 2020 [38] Business Line Data and Key Metrics Changes - Leased occupancy reached an all-time high of 96.3%, with anchor leased occupancy at 98.1% and in-line leased occupancy at 92.7% [21][22] - Comparable new lease rent spreads were 18.3%, and comparable renewal lease rent spreads were 7.8% [23][24] - Retention rate for the quarter was 86%, slightly below the full year retention rate of 88% [25] Market Data and Key Metrics Changes - The operating environment remains strong, with rent collections at pre-pandemic levels [17] - Demand for retail space in well-located small format centers continues to be high, with significant interest from national retailers [24] Company Strategy and Development Direction - The company focuses on owning centers with the number one or number two grocer in the market, emphasizing necessity-based goods and services [13][10] - Plans to execute $1 billion of acquisitions net of dispositions over three years, with a goal of acquiring approximately 15 assets per year [14][47] - The company aims to invest approximately $45 million to $50 million in ground-up and redevelopment opportunities in 2022 [29] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operating environment and the ability to achieve internal and external growth plans [19][41] - The company anticipates same-center NOI growth guidance of 3% to 4% for 2022, consistent with historical growth [41][98] - Management is closely monitoring inflation and its potential impact on consumer behavior, noting that necessity-based retailers are performing well [73][75] Other Important Information - The company has a healthy acquisition pipeline, having acquired $350 million of assets since its IPO and guiding to acquire between $300 million and $400 million in 2022 [44][46] - The company disposed of 11 wholly-owned centers and two outparcels for $91.7 million since the IPO [48] Q&A Session Summary Question: What differentiates the company's portfolio compared to peers? - Management believes the format of grocery-anchored centers with necessity-based goods has performed well during the pandemic and will continue to do so [52][53] Question: What are the expectations for occupancy increases in 2022? - Management expects in-line occupancy to reach 95% over the next two years, with a meaningful component of that increase likely occurring in 2022 [60][61] Question: What are the trends in development and redevelopment projects? - Management noted that while there are some delays in permitting and cost increases, they remain confident in the returns from their redevelopment projects [62][63] Question: How is the company addressing the competitive transaction market? - Management acknowledged increased competition but remains optimistic about finding assets that meet their investment criteria [66][67] Question: What are the expectations for store closures in 2022? - Management is optimistic about store closures remaining low, with many retailers stabilizing [68][69] Question: How is inflation affecting consumer behavior? - Management reports strong customer traffic and sales in necessity-based retail, indicating resilience against inflationary pressures [73][75] Question: What is the company's approach to leverage and acquisitions? - Management remains committed to acquiring assets that meet their unlevered IRR target while maintaining an investment-grade balance sheet [77][78] Question: What are the expectations for leasing spreads moving forward? - Management has not assumed higher leasing spreads in their guidance but sees potential for improvement given the strong operating environment [100][101]