Our Space is Your Place EARNINGS PRESENTATION 4th Quarter 2025 RegencyCenters.com Anastasia Plaza St. Augustine, FL Risk Factors Related to Pandemics or other Public Health Crises Pandemics or other public health crises, may adversely affect our tenants' financial condition, the profitability of our properties, and our access to the capital markets and could have a material adverse effect on our business, results of operations, cash flows and financial condition. Risk Factors Related to Operating Retail-Bas ...

Core Insights - Phillips Edison & Company, Inc. (PECO) reported strong financial results for the fourth quarter and full year ended December 31, 2025, with net income attributable to stockholders of $47.5 million for Q4 and $111.3 million for the full year, reflecting significant growth compared to the previous year [1][4]. Financial Results - For Q4 2025, net income attributable to stockholders was $47.5 million, or $0.38 per diluted share, compared to $18.1 million, or $0.15 per diluted share in Q4 2024 [4]. - For the full year 2025, net income attributable to stockholders totaled $111.3 million, or $0.89 per diluted share, up from $62.7 million, or $0.51 per diluted share in 2024 [4]. Nareit FFO - Nareit FFO for Q4 2025 increased by 5.9% to $88.8 million, or $0.64 per diluted share, compared to $83.8 million, or $0.61 per diluted share in Q4 2024 [5][6]. - For the full year 2025, Nareit FFO rose 9.1% to $353.1 million, or $2.54 per diluted share, compared to $323.8 million, or $2.37 per diluted share in 2024 [6]. Core FFO - Core FFO for Q4 2025 increased by 6.2% to $91.1 million, or $0.66 per diluted share, compared to $85.8 million, or $0.62 per diluted share in Q4 2024 [7]. - For the full year 2025, Core FFO increased by 8.7% to $360.7 million, or $2.60 per diluted share, compared to $331.8 million, or $2.43 per diluted share in 2024 [7]. Same-Center NOI - Same-center NOI for Q4 2025 increased by 3.2% to $115.9 million, compared to $112.3 million in Q4 2024 [8]. - For the full year 2025, same-center NOI increased by 3.8% to $454.7 million, compared to $438.1 million in 2024 [8]. Portfolio Overview - As of December 31, 2025, PECO's portfolio consisted of 297 properties totaling approximately 33.5 million square feet, an increase from 294 properties totaling approximately 33.3 million square feet as of December 31, 2024 [9]. - The leased portfolio occupancy remained high at 97.3% as of December 31, 2025, compared to 97.7% at the end of 2024 [10]. Leasing Activity - In Q4 2025, 246 leases were executed totaling approximately 1.4 million square feet, compared to 231 leases totaling approximately 1.4 million square feet in Q4 2024 [12]. - For the full year 2025, 1,026 leases were executed totaling approximately 6.0 million square feet, compared to 1,021 leases totaling approximately 6.0 million square feet in 2024 [12]. 2026 Guidance - PECO provided guidance for 2026, projecting net income per share to be in the range of $0.74 to $0.77, Nareit FFO per share between $2.65 and $2.71, and Core FFO per share between $2.71 and $2.77 [19][22]. - The company anticipates same-center NOI growth of 3.00% to 4.00% for 2026 [22]. Balance Sheet Highlights - As of December 31, 2025, PECO had approximately $925.1 million of total liquidity, including $43.3 million in cash and cash equivalents, and $881.8 million of borrowing capacity on its revolving credit facility [16]. - The company's net debt to annualized adjusted EBITDAre was 5.2x as of December 31, 2025, compared to 5.0x at the end of 2024 [17].

INVESTOR PRESENTATION Q3 2025 INTRODUCTORY NOTES Forward-Looking Statements Disclaimer Forward-Looking Statements in this presentation, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of InvenTrust's management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statem ...

Core Insights - Brixmor Property Group Inc. reported record small shop occupancy and the highest new lease average base rent (ABR) in its history, indicating strong leasing performance and tenant demand [1][2] - The company updated its 2025 Nareit Funds From Operations (FFO) per diluted share expectations to a range of $2.22 - $2.25, up from $2.19 - $2.24, and same property net operating income (NOI) growth expectations to 3.90% - 4.30% from 3.50% - 4.50% [6][14] Financial Highlights - For the three months ended June 30, 2025, net income attributable to Brixmor was $85.1 million, or $0.28 per diluted share, compared to $70.1 million, or $0.23 per diluted share for the same period in 2024 [6][27] - Nareit FFO for the same period was $171.5 million, or $0.56 per diluted share, compared to $163.8 million, or $0.54 per diluted share in 2024 [6][27] - The company declared a quarterly cash dividend of $0.2875 per common share, equivalent to $1.15 per annum, payable on October 15, 2025 [3] Portfolio and Investment Activity - Brixmor executed 1.7 million square feet of new and renewal leases with rent spreads on comparable space of 24.2%, including 0.9 million square feet of new leases with rent spreads of 43.8% [6][7] - The company achieved a total leased occupancy of 94.2%, with anchor leased occupancy at 95.6% and record small shop leased occupancy at 91.2% [6][7] - Brixmor commenced $14.5 million of annualized base rent and reported a total signed but not yet commenced new lease population of 3.2 million square feet, representing $67.1 million of annualized base rent [6][7] Acquisitions and Dispositions - The company completed $223.0 million in acquisitions, including the recent acquisition of LaCenterra At Cinco Ranch for $223.0 million, a grocery-anchored lifestyle center in Houston [6][7] - Brixmor also completed $22.4 million in dispositions during the reporting period [6][14] Capital Structure and Guidance - As of June 30, 2025, Brixmor had $1.4 billion in liquidity and a net principal debt to adjusted EBITDA ratio of 5.5x for the current quarter annualized [14][17] - The company expects revenues deemed uncollectible to total 75 - 110 basis points of total expected revenues in 2025 [14]

Core Viewpoint - Phillips Edison & Company, Inc. (PECO) reported solid financial and operational results for Q2 2025, with an increase in full-year earnings guidance, reflecting strong demand in its grocery-anchored portfolio [1][3][21]. Financial Results - For Q2 2025, net income attributable to stockholders was $12.8 million, or $0.10 per diluted share, compared to $15.3 million, or $0.12 per diluted share in Q2 2024 [4]. - For the six months ended June 30, 2025, net income attributable to stockholders totaled $39.1 million, or $0.31 per diluted share, up from $32.9 million, or $0.27 per diluted share in the same period of 2024 [4]. - Nareit FFO for Q2 2025 increased by 9.8% to $86.0 million, or $0.62 per diluted share, compared to $78.4 million, or $0.57 per diluted share in Q2 2024 [5][6]. - Core FFO for Q2 2025 rose by 10.3% to $88.2 million, or $0.64 per diluted share, compared to $80.0 million, or $0.59 per diluted share in Q2 2024 [7]. Operational Highlights - Same-center NOI grew by 4.2% to $114.5 million in Q2 2025, compared to $109.8 million in Q2 2024 [8]. - The company reported a strong leased portfolio occupancy of 97.4% as of June 30, 2025, slightly down from 97.5% a year earlier [10]. - The company executed 276 leases totaling approximately 1.4 million square feet in Q2 2025, compared to 277 leases totaling approximately 1.7 million square feet in Q2 2024 [12]. Portfolio Overview - As of June 30, 2025, PECO's wholly-owned portfolio consisted of 303 properties totaling approximately 34.0 million square feet, an increase from 286 properties totaling approximately 32.6 million square feet a year earlier [9]. - The company completed $287 million in acquisitions to date in 2025, with a full-year acquisition guidance range of $350 million to $450 million [3][5]. Balance Sheet Highlights - As of June 30, 2025, PECO had approximately $972 million in total liquidity, including $9.2 million in cash and cash equivalents [18]. - The company's outstanding debt had a weighted-average interest rate of 4.4% and 95.0% of total debt was fixed-rate [19]. 2025 Guidance - PECO increased its 2025 earnings guidance, projecting net income per share of $0.61 to $0.64, Nareit FFO per share of $2.50 to $2.54, and Core FFO per share of $2.55 to $2.60 [21][22].