Regency Centers (REG) Investor presentation summary

Company overview and portfolio

• Operates over 480 open-air shopping centers in 25+ markets, with a $20B+ market cap and S&P 500 membership.

• Portfolio is over 85% grocery-anchored, with an average grocer sales of $825 PSF and 97% same property leased rate.

• Maintains sector-leading credit ratings (Moody's A3, S&P A-) and a net debt plus preferred to EBITDAre ratio of 5.0x.

• Focuses on necessity, service, convenience, and value retailers in suburban trade areas with strong demographics.

Strategic advantages and operating platform

• National scale with 25+ offices and a highly experienced leadership team.

• Intense asset management and strong tenant relationships drive occupancy and performance.

• Differentiated development platform with nearly $1B in project starts since 2023 and $680M in current projects.

• Maintains ample liquidity with a $1.5B revolver and manageable near-term maturities.

Sector fundamentals and tenant mix

• Grocery-anchored centers benefit from limited new supply, strong suburban population growth, and high occupancy rates.

• Portfolio is diversified with 20% of ABR from grocery, 20% from restaurants, and growing exposure to medical and fitness tenants.

• 58% of ABR is from shop tenants, primarily restaurants, services, and medical/fitness; 20% of ABR is from local tenants.

• Top tenants include leading grocers such as Publix, Whole Foods, Kroger, and Trader Joe's.