1st QUARTER 2021 SUPPLEMENTAL INFORMATION Retail Opportunity Investments Corp. 11250 El Camino Real, Suite 200 San Diego, CA 92130 www.roireit.net Overview Supplemental Disclosure Quarter Ended March 31, 2021 Our Company Retail Opportunity Investments Corp. (Nasdaq: ROIC), is a fully integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely populated, metropolitan markets across the West ...

Retail Opportunity Investments Corp. (NASDAQ:ROIC) Q1 2021 Earnings Conference Call April 28, 2021 12:00 PM ET Company Participants Stuart Tanz - CEO Michael Haines - CFO Rich Schoebel - COO Conference Call Participants Katy McConnell - Citi Craig Schmidt - Bank of America Michael Gorman - BTIG Juan Sanabria - BMO Capital Wes Golladay - Baird Todd Thomas - Todd Thomas Markets Mike Mueller - JPMorgan Linda Tsai - Jefferies Chris Lucas - Capital One Securities Paulina Rojas Schmidt - Green Street Operator Wel ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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 March 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 001-33749 RETAIL OPPORTUNITY INVESTMENTS CORP. RETAIL OPPORTUNITY INVESTMENTS PARTNERSHIP, LP (Exact name of registrant as specified in ...

Retail Opportunity Investments Corp. (NASDAQ:ROIC) Q4 2020 Earnings Conference Call February 24, 2021 12:00 PM ET Company Participants Stuart Tanz - Chief Executive Officer Michael Haines - Chief Financial Officer Rich Schoebel - Chief Operating Officer Conference Call Participants Craig Schmidt - Bank of America Katy McConnell - Citi Michael Bilerman - Citi Todd Thomas - KeyBanc Capital Juan Sanabria - BMO Capital Mike Mueller - JPMorgan Paulina Rojas Schmidt - Green Street. Linda Tsai - Jefferies Chris Lu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to RETAIL OPPORTUNITY INVESTMENTS CORP. (Exact name of registrant as specified in its charter) Commission file number: 001-33749 RETAIL OPPORTUNITY INVESTMENTS PARTNERSHIP, LP ...

Retail Opportunity Investments Corp. (NASDAQ:ROIC) Q3 2020 Earnings Conference Call October 27, 2020 12:00 PM ET Company Participants Stuart Tanz - CEO Michael Haines - CFO Rich Schoebel - COO Conference Call Participants Katy McConnell - Citi Mike Mueller - JPMorgan Michael Gorman - BTIG Todd Thomas - KeyBanc Capital Markets Juan Sanabria - BMO Capital Markets Craig Schmidt - Bank of America Vince Tibone - Green Street Linda Tsai - Jefferies Michael Bilerman - Citi Operator Welcome to Retail Opportunity In ...

Financial Data and Key Metrics Changes - GAAP net income attributable to common shareholders for Q2 2020 was $4.6 million, equating to $0.04 per diluted share, with funds from operations totaling $29.2 million, equating to $0.23 per diluted share [15] - Same center net operating income declined by 9.3% in Q2 2020 and 3.1% for the first six months of 2020, marking a significant downturn after 33 consecutive quarters of growth [16] Business Line Data and Key Metrics Changes - 88% of tenants were open and operating by the end of the second quarter, up from 70% in April [11] - Rent received increased from 67% in April to 82% for the entire second quarter, with approximately $9.3 million in outstanding rent, of which $2.2 million has been deferred [11][17] Market Data and Key Metrics Changes - There has been a considerable increase in inquiries from retailers seeking space, particularly in the service and specialty sectors, as well as traditional indoor mall retailers looking to relocate to open-air centers [13] - The portfolio lease rate held up well at 97% at the start of the pandemic and ended the second quarter at 97% despite temporary closures [22] Company Strategy and Development Direction - The company is focusing on enhancing health, safety, and cleaning protocols at shopping centers, as well as creating outdoor dining spaces for restaurant tenants [10][12] - The company is optimistic about the demand for space returning, with a focus on grocery and drug stores, which have remained open and performed well during the pandemic [29] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by the pandemic but noted a quick return of customers to shopping centers, with parking lots bustling and stores active [12] - The company plans to continue conserving cash flow and has temporarily suspended its quarterly dividend to navigate the ongoing uncertainty [34][21] Other Important Information - The company recorded $5.9 million in bad debt expense, with $4.9 million reserved for current tenants [18] - The company has $161.3 million in cash on its balance sheet, representing a $27.8 million increase since April [21] Q&A Session Summary Question: What is the impact of the $5.9 million bad debt number? - The bad debt number primarily relates to rent and recoveries, with $185,000 impacted by write-offs of straight-line rent, mainly from one fitness tenant [41] Question: What are the expectations for August collections? - August collections are fluid, and while it is too early to provide specific numbers, management believes collections will continue to improve as tenants fulfill deferred rent agreements [57] Question: How many 24-Hour Fitness locations are still in the portfolio? - The company has three additional 24-Hour Fitness locations, accounting for less than 1% of total base rent, and expects to re-lease the space quickly [60] Question: What is the tenant participation in the PPP loan program? - The company has encouraged tenants to apply for available assistance, including local grants and federal programs, to help with rent payments [137] Question: What industries are mall tenants coming from? - The company is seeing interest from a broad range of uses, with a focus on tenants that fit the space available, particularly in grocery-anchored centers [144]

Retail Opportunity Investments Corp. (NASDAQ:ROIC) Q1 2020 Earnings Conference Call April 23, 2020 ET Operator Company Participants | --- | |--------------------------------------------------------------------------------| | | | Stuart Tanz - Chief Executive Officer Michael Haines - Chief Financial Officer | | Rich Schoebel - Chief Operating Officer | | Conference Call Participants | | Collin Mings - Raymond James | | Todd Thomas - KeyBanc | | Christy McElroy - Citigroup | | R.J. Milligan - Baird | | Jeremy ...

Financial Data and Key Metrics Changes - For the year ended December 31, 2019, GAAP operating income increased to $115 million compared to $109 million in 2018 [14] - GAAP net income attributable to common shareholders for 2019 was $48.8 million or $0.42 per diluted share, up from $42.7 million or $0.38 per diluted share in 2018 [15] - Funds from operations (FFO) for 2019 was $138 million or $1.10 per diluted share, down from $142 million or $1.14 per diluted share in 2018 [16] Business Line Data and Key Metrics Changes - The company maintained a portfolio lease rate above 97% for the sixth consecutive year, achieving a year-end lease rate of 97.9% [8] - New leases signed in 2019 saw a 32.8% increase in rent, the second highest on record [8] - Renewal rent growth averaged 9.7% in 2019, consistent with the 9% to 10% range since 2015 [9] Market Data and Key Metrics Changes - The company reported a solid 3.6% increase in same-center net operating income (NOI) for 2019 [9] - The economic spread between build and lease space increased to 3.4%, representing $6.5 million in additional incremental annual base rent [27] Company Strategy and Development Direction - The company aims to enhance long-term competitive strength by disposing of non-core properties, surpassing its goal by selling $74 million in 2019 [10] - The densification program includes projects that will add multifamily units and retail space, with significant demand driven by local workforce increases [12][13] - The company plans to continue reducing debt and enhancing its financial position through equity issuance and property sales [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the portfolio and tenant base, highlighting strong demand across the West Coast [36] - The company anticipates a transitional year in 2020 for FFO, with guidance suggesting a slowdown in leasing activity but continued efforts to recapture space [34][35] Other Important Information - The company has no meaningful debt maturing for approximately the next four years, with a well-laddered debt maturity schedule [20] - FFO guidance for 2020 is expected to be between $1.09 and $1.13 per diluted share, with same-center NOI growth projected at 2% to 3% [21] Q&A Session Summary Question: Follow-up on guidance regarding same store growth and FFO - Management explained that the guidance reflects a drop in FFO due to G&A costs and a reduction in non-cash revenue, alongside dilution from equity issuance [38][40] Question: Impact of de-leveraging on densification - Management acknowledged the need to reduce net debt to EBITDA and indicated that financing for densification projects would not be needed until late 2020 or early 2021 [47][48] Question: Update on tenant watch list and leasing strength - Management reported low exposure to troubled retailers and noted strong demand in the Pacific Northwest, particularly in Portland and Seattle [51][52] Question: Attributes of the acquisition in Southern California - The acquisition is anchored by strong grocery tenants, with expectations for significant growth as leases roll over [54][55] Question: Exposure to potential repeal of Prop 13 - Management indicated that most properties are assessed at current values and could benefit from a level playing field if the proposition passes [67][68] Question: Modeling for Pier 1 locations - Management is proactively marketing spaces and expects potential upside in rents despite some uncertainty [70] Question: Desired leverage metrics - Management aims to achieve a net debt to EBITDA ratio in the six range and is focused on reducing overall leverage [72]

Financial Data and Key Metrics Changes - For Q3 2019, the company reported total revenues of $72.4 million and operating income of $35 million, with year-to-date revenues of $221.4 million and operating income of $89.2 million [17] - GAAP net income for Q3 2019 was $17.9 million, or $0.16 per diluted share, while year-to-date GAAP net income was $38.7 million, or $0.34 per diluted share [18] - Funds from operations (FFO) for Q3 2019 totaled $33.4 million, equating to $0.27 per diluted share, bringing the year-to-date FFO to $0.82 per share [18][22] - The net debt to EBITDA ratio was reduced to 7.0, with a total market cap of approximately $3.7 billion and $1.4 billion of debt outstanding, resulting in a debt to total market cap ratio of 38% [20] Business Line Data and Key Metrics Changes - The company maintained a portfolio lease rate of over 97%, finishing Q3 at 97.7%, with anchored space at 100% leased and shop space at 95% leased [24] - During Q3, the company executed 96 leases, with 91 for in-line space, leasing a total of 376,000 square feet, achieving a 35.7% cash increase on same-space new leases and an 8.7% increase on renewals [29] - Year-to-date, the company has leased 1 million square feet, achieving a blended 32% increase in same-space new leases and an 11% blended increase in renewal activity [29] Market Data and Key Metrics Changes - Demand for retail space continues to outpace supply, particularly in highly sought-after locations, driven by traditional retailers expanding their presence and e-commerce retailers introducing physical stores [26] - The company is experiencing strong demand for in-line space, with emerging factors contributing to this trend [25] Company Strategy and Development Direction - The company is focused on disposing of non-core properties, particularly in the Sacramento market, with a year-to-date total of $60.5 million in property sales [9] - Densification initiatives are underway, with plans to develop apartments and retail space at various shopping centers, including a project in Bellevue and others in the San Francisco Bay area [10][12][14] - The company is pursuing three off-market acquisition opportunities totaling around $85 million, with a focus on grocery-anchored shopping centers [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong performance of the portfolio, anticipating one of the best years on record for leasing activity [7] - The company is optimistic about the future, with a disciplined strategy and strong market knowledge expected to drive continued growth [34] - Management noted that while asset sales have been slower than anticipated, they remain focused on maintaining a strong balance sheet and preparing for growth in 2020 [39][87] Other Important Information - The company has no debt maturing for the next two years, with 94% of its debt being fixed rate [21] - The company is adjusting its FFO guidance range for the full year 2019 to $1.10 to $1.12 per share, reflecting changes in asset sales and equity issuance [22] Q&A Session Summary Question: Can you elaborate on the changes in guidance? - The change in guidance is driven by slower asset sales and earlier-than-expected equity issuance [39] Question: How are you thinking about funding the $85 million in off-market opportunities? - Funding will be a combination of proceeds from asset sales and equity issuance, with a focus on keeping leverage in check [51] Question: What is the expectation for occupancy rates? - Occupancy rates are expected to remain consistent, with some variability due to timing and proactive releasing initiatives [53][55] Question: What is the outlook for densification projects? - Densification projects are expected to start in 2021 and 2022, with some projects potentially beginning in 2020 [88] Question: What is the current cap rate environment? - Cap rates for grocery-anchored shopping centers are compressing due to limited supply and strong demand [75] Question: How many densification projects could be developed at one time? - The company could potentially have two or three densification projects underway simultaneously, typically in partnership with other firms [120]