Urban Edge Properties (UE) Investor presentation summary

Portfolio overview and market positioning

• 74 properties totaling 17.3M SF, with 96.4% leased occupancy and $2.7B market cap as of March 2026.

• 80% of portfolio value is grocery-anchored, with average grocer sales of $950 PSF.

• Portfolio concentrated in the DC to Boston corridor, generating 90% of NOI from this region, which has 2x the peer average for population density.

• Dominant owner in first-ring NYC suburbs, representing 70% of portfolio value, benefiting from supply constraints and stable population.

• Properties are located in dense, affluent submarkets with a 3-mile median household income of $130K and high population density.

Financial performance and growth

• Achieved a 6% FFO as Adjusted 3-year CAGR through 2025, exceeding initial targets.

• 2026 FFO as Adjusted guidance is $1.48–$1.52 per diluted share, with same-property NOI growth of 3.0–3.75%.

• Net debt to EBITDA is 6.1x, with $1B in liquidity and a weighted average debt maturity of 3.6 years at a 5.0% average rate.

• Active redevelopment pipeline of $157M at a 13% unleveraged yield, with $67M remaining to be funded.

• Over $43M of completed redevelopments in the last 12 months at a 21% unleveraged yield.

Leasing and tenant base

• Leasing activity at record levels, with new lease cash spreads above 20% for four consecutive years and a record 32% in 2025.

• SNO pipeline represents $22M of future annual gross rent (7% of NOI), with anchor leases in the pipeline at $28 PSF vs. $18 PSF in-place rent.

• 90% of ABR and SNO pipeline comprised of national and regional tenants.

• Top tenants include Whole Foods, Walmart, Target, TJX, and Burlington, with a weighted average credit rating of BBB+ for 37% of ABR.

• Necessity-based tenancy (grocery, home improvement, value-oriented) provides stable cash flows.