Urban Edge Properties (UE) Investor presentation summary

Portfolio and market positioning

• Concentrated in the densely populated DC to Boston corridor, with 90% of NOI from this region and an average 3-mile population density of 200,000 people, the highest in the sector.

• 80% of portfolio value is grocery-anchored, with grocers generating $950 per square foot in sales.

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

• Portfolio situated in affluent submarkets, with a 3-mile median household income above $130,000.

• Limited retail supply and high demand, with retail GLA per household below peer median and households per square mile above peer median.

Financial performance and growth

• Achieved a 6% FFO as Adjusted 3-year CAGR through 2025, with a targeted long-term annual growth rate of 4-5% per share.

• Annualized dividend increased 31% since 2023, supported by consistent earnings growth.

• 2026 FFO as Adjusted guidance raised to $1.50–$1.54 per diluted share, with same-property NOI growth of 3.25–3.75%.

• Net debt to EBITDA at 5.5x, with $1 billion in liquidity and a $3.1B equity market cap.

• Recent acquisitions and dispositions have been accretive, with $696M acquired at a 7% cap rate and $554M sold at a 5.4% cap rate since October 2023.

Leasing, occupancy, and redevelopment

• Shop occupancy increased by 1,440 basis points since 2020, reaching 91.7% in 2Q26, with a visible pipeline for further gains.

• More than 80% of NOI growth expected from executed leases, LOIs, and contractual rent increases through 2027.

• New lease cash spreads exceeded 20% for four consecutive years, with record spreads of 32% in 2025.

• $155M in active redevelopment projects with a 12% expected unleveraged yield, and $22M in future annual gross rent from signed-not-opened leases.

• By 2027, 70% of the portfolio will have undergone redevelopment or repositioning, reducing future capex needs and improving tenant quality.