Regency Centers (REG) Investor presentation summary

Strategic advantages and portfolio overview

• Portfolio consists of over 480 properties, 85%+ of which are grocery-anchored, with more than 9,000 tenants and a market cap exceeding $19B.

• Properties are located in suburban trade areas with strong demographics and high consumer buying power.

• Same property leased rate exceeds 96%, with average grocer sales above $825 per square foot.

• Sector-leading credit ratings (Moody's A3, S&P A-) and net debt plus preferred to EBITDAre of 5.2x.

• Balance sheet features low leverage, ample liquidity, and a $1.5B revolver available as of March 2026.

Sector fundamentals and tenant mix

• Grocery-anchored centers benefit from strong population growth, hybrid work trends, and limited new supply.

• Portfolio is diversified with necessity, service, convenience, and value retailers, and a resilient tenant base.

• Six of the top ten tenants are high-performing grocers, and grocery remains the largest category by base rent.

• Restaurants, medical/wellness, and fitness tenants are growing, while pharmacy exposure has declined.

• 20% of base rent is derived from local tenants, enhancing community connection and tenant mix.

Investments and development platform

• Over $800M in development and redevelopment starts in the past three years, with $635M in projects in process as of Q1 2026.

• Ground-up development is a key differentiator, targeting $1B in starts over the next three years, self-funded by free cash flow.

• Recent completions include Oakley Shops at Laurel Fields ($36M, Safeway-anchored) and Crystal Brook Corner ($59M, Whole Foods-anchored).

• Development yields exceed market cap rates by 150bps+, driving incremental NAV and earnings accretion.