Federal Realty Investment Trust (FRT) investor relations material

Opening remarks and company positioning

• Management team introduced, emphasizing experience and leasing expertise in key regions.

• Focus on differentiating the company from generic shopping center peers by highlighting unique strengths.

• Emphasis on high-quality assets and long-term income generation as core to the business model.

• Strategy centers on commanding premium rents and earnings multiples through asset quality and value creation.

Expansion and acquisition strategy

• Expansion beyond traditional coastal markets into central U.S. regions post-COVID, starting with Kansas City and Omaha.

• Recent and pending acquisitions in central markets expected to total about 3 million sq ft and deliver over 5% NOI growth annually for five years.

• Asset sales in mature or low-growth markets fund new acquisitions in a non-dilutive manner.

• Competitive advantage achieved by reinvesting proceeds from low cap rate sales into higher-yielding assets.

• Expansion is additive, not a shift away from core coastal markets.

Value creation and tenant relationships

• Leveraging long-standing coastal relationships to accelerate leasing and remerchandising in new markets.

• 40 new deals completed in 13 months in Omaha and Kansas City, exceeding expectations.

• Early engagement with tenants during due diligence enables rapid value creation post-acquisition.

• Focus on acquiring dominant assets in metro areas with at least 1 million people.

• Larger assets preferred for greater long-term growth opportunities.