Regency Centers (REG) Investor presentation summary

Strategic advantages and portfolio overview

• Operates over 480 properties with more than 9,000 tenants, maintaining a >96% leased rate and $18B+ market cap.

• Portfolio is over 85% grocery-anchored, with average grocer sales exceeding $825 per square foot.

• Properties are located in suburban trade areas with strong demographics and favorable trends like suburbanization and hybrid work.

• Maintains sector-leading credit ratings (Moody's A3, S&P A-) and a net debt plus preferred to EBITDAre ratio of 5.1x.

• National presence with 25+ regional offices and significant exposure in top U.S. markets.

Shopping center fundamentals and tenant mix

• Focuses on grocery-anchored neighborhood and community centers, which offer stable cash flow, high occupancy, and low capex needs.

• Grocery remains the top category, accounting for 20% of base rent, with restaurants, medical, and fitness also significant.

• 58% of base rent comes from shop tenants (<10K SF), primarily restaurants, banks, medical, and personal services.

• 21% of base rent is from local tenants, enhancing community connection and tenant mix.

• Six of the top ten tenants are high-performing grocers, and the company is a leading landlord for major U.S. grocery chains.

Investments and development platform

• Over $800M in development and redevelopment starts from 2023-2025, with $597M in projects in process at ~9% stabilized yields.

• Targets $1B in development/redevelopment starts over the next three years, self-funded by free cash flow.

• Completed $164M in projects in Q4 2025, including major redevelopments and ground-up developments.

• Acquired nearly $540M in shopping centers in 2025 at a blended cap rate of ~6%, enhancing portfolio quality.

• Maintains a deep pipeline of future projects with leading national grocers.