May 2025 First Quarter 2025 Investor Presentation Ashley Park | Atlanta, GA Highlights Q1 2025 Highlights | $80mm | Investment activity | | --- | --- | | $225 | Implied property value per square foot | | ~109,400 | Square feet of comparable leasing activity | | 37% | Comparable leasing spread | | 83% | ABR from Georgia, Texas, Florida & North Carolina | | ~191,000 | Portfolio 5-mile population | | 6.6x | Net Debt to Pro Forma Adjusted EBITDA | | 2.4% | Same-Property NOI quarter-over-quarter growth | $496M $ ...

Core Insights - CTO Realty Growth, Inc. reported strong operational and financial results for Q1 2025, including the acquisition of a significant property and positive leasing activity [1][3][6] Financial Performance - Net income attributable to the company decreased to $2.261 million for Q1 2025, down 61.3% from $5.842 million in Q1 2024 [4][10] - Core Funds from Operations (FFO) attributable to common stockholders increased by 34.5% to $14.445 million, while Adjusted Funds from Operations (AFFO) rose by 33.3% to $15.521 million [4][5] - Same-Property Net Operating Income (NOI) totaled $17.1 million, reflecting a 2.4% increase from the prior year [5][10] Leasing Activity - The company signed 18 leases totaling 112,585 square feet, with a comparable cash rent growth of 37.2%, increasing from an average of $17.47 to $23.97 per square foot [11][12] - The current signed-not-open pipeline represents $4.0 million, or 4.0%, of annual cash base rent as of March 31, 2025 [5] Property Acquisition - CTO acquired Ashley Park, a 559,000-square-foot lifestyle center in Atlanta, Georgia, for $79.8 million, achieving a going-in cap rate at the high end of the company's guidance [3][6] Portfolio Overview - As of March 31, 2025, the company's portfolio consisted of 24 properties with a total of 5,246 thousand square feet and a weighted average remaining lease term of 4.9 years [7] - The portfolio's leased occupancy rate was reported at 93.8% [7] Capital Structure and Liquidity - The company had liquidity of $138.4 million as of March 31, 2025, with $130.0 million of undrawn commitments on its Revolving Credit Facility [5][13] - Total long-term debt amounted to $603.8 million, with a weighted average interest rate of 4.35% [14][15] 2025 Outlook - The company reaffirmed its Core FFO and AFFO guidance for 2025, projecting Core FFO per common share to be between $1.80 and $1.86, and AFFO per common share to be between $1.93 and $1.98 [20][21]