Regency Centers (REG) Investor presentation summary

Strategic positioning and portfolio overview

• Operates over 480 open-air shopping centers, primarily grocery-anchored, in suburban areas with strong demographics and high occupancy rates (~97%).

• Portfolio exceeds $20B in market cap, with more than 85% of properties anchored by leading grocers and over 9,000 tenants.

• Maintains a significant presence in top U.S. markets, with a focus on necessity, service, convenience, and value retailers.

• Proprietary analytics and local expertise support sustainable NOI growth and tenant mix optimization.

• Leadership team has deep industry experience and long tenure, supporting operational excellence.

Sector fundamentals and growth drivers

• Grocery-anchored centers benefit from secular tailwinds: population growth, hybrid work, and limited new supply.

• High occupancy durability, low capex requirements, and resilient tenant base drive stable cash flows.

• Rent growth, redevelopment, and occupancy improvements are key contributors to same property NOI growth (2026 guidance: 3.7–4.1%).

• Signed-not-occupied pipeline represents $41M in base rent, supporting future growth.

• Sector-leading AFFO and dividend growth achieved through disciplined capital allocation and limited leasing capital.

Investments and development platform

• Nearly $1B in project starts over the last 3.5 years, with $680M currently in process and a deep pipeline of future opportunities.

• Ground-up development and redevelopment projects are self-funded, targeting higher yields and incremental NAV creation.

• Recent acquisitions include three grocery-anchored centers for $138M, expanding presence in key markets.

• Strong partnerships with top national grocers underpin leasing and development strategy.