Stronger 2025 results and 2026 FFO outlook for Brixmor (NYSE: BRX)

Q: How did Brixmor Property Group Inc. (BRX) perform financially in 2025?

Brixmor’s 2025 net income attributable to common shareholders was $386.2 million , or $1.25 per diluted share, up from $339.3 million and $1.11 in 2024. Nareit FFO rose to $693.3 million , or $2.25 per diluted share, reflecting stronger property and leasing performance.

Q: What were Brixmor’s key leasing and occupancy metrics for Q4 2025?

In Q4 2025, Brixmor executed 1.5 million square feet of new and renewal leases with rent spreads on comparable space of 24.2% . Total leased occupancy reached 95.1% , anchor leased occupancy 96.6% , and small shop leased occupancy a record 92.2% , supporting future rental income.

Q: How did same property NOI trend for Brixmor (BRX) in 2025?

Same property NOI increased 6.0% for Q4 2025 versus Q4 2024 and 4.2% for the full year. Growth was driven mainly by higher base rent, which contributed 360 basis points to both Q4 and full-year performance, along with improved ancillary and other rental income.

Q: What guidance did Brixmor provide for 2026 Nareit FFO and NOI growth?

For 2026, Brixmor expects Nareit FFO of $2.33–$2.37 per diluted share, up from $2.25 in 2025. The company also projects same property NOI growth of 4.50%–5.50% , excluding items affecting FFO comparability such as debt extinguishment gains or losses and transaction expenses.

Q: What is Brixmor’s liquidity and leverage position at year-end 2025?

As of December 31, 2025 , Brixmor had $1.6 billion in liquidity, including cash and undrawn revolver capacity. Net principal debt totaled about $5.16 billion , resulting in net principal debt to adjusted EBITDA of 5.4x on a current quarter annualized basis and 5.6x on a trailing twelve-month basis.

Q: What capital deployment did Brixmor execute in 2025?

In 2025, Brixmor completed $416.8 million of acquisitions and $296.5 million of dispositions. It also stabilized $183.3 million of reinvestment projects at an average incremental NOI yield of 10% , and maintained an in-process reinvestment pipeline of $336.4 million at year-end.

Q: What dividend did Brixmor Property Group declare for shareholders?

Brixmor’s Board declared a quarterly cash dividend of $0.3075 per common share, equivalent to $1.23 annually. The dividend is payable on April 15, 2026 to stockholders of record on April 2, 2026 , representing a payout ratio of about 52.8% of Q4 Nareit FFO.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Brixmor Property Group Inc. reported stronger results for the fourth quarter and full year 2025. Net income attributable to common shareholders rose to $0.44 per diluted share in Q4 from $0.27 a year earlier, and to $1.25 for 2025 from $1.11 in 2024.

Nareit FFO increased to $0.58 per diluted share in Q4 and $2.25 for the year. Same property NOI grew 6.0% in Q4 and 4.2% for 2025, helped by rent spreads of 24.2% on new and renewal leases and record small shop occupancy of 92.2%.

The company completed $416.8 million of acquisitions and $296.5 million of dispositions in 2025, stabilized $183.3 million of reinvestment projects, and ended the year with $1.6 billion of liquidity and net principal debt to adjusted EBITDA of 5.4x (current quarter annualized). The Board declared a quarterly dividend of $0.3075 per share. For 2026, Brixmor expects Nareit FFO of $2.33–$2.37 per diluted share and same property NOI growth of 4.50%–5.50%.

Insights

Results show solid growth in earnings, leasing, and NOI with manageable leverage and steady 2026 guidance.

Brixmor grew Q4 net income to $137.1M and full-year net income to $386.2M, while Nareit FFO reached $693.3M or $2.25 per diluted share in 2025. Same property NOI increased 6.0% in Q4 and 4.2% for the year, indicating healthier property-level performance.

Leasing metrics were strong: the company executed 1.5M square feet of Q4 leases with total rent spreads of 24.2%, and lifted small shop leased occupancy to a record 92.2%. A reinvestment pipeline of $336.4M at expected double-digit NOI yields supports future cash flow.

On the balance sheet, Brixmor ended December 31, 2025 with $1.6B of liquidity and net principal debt to adjusted EBITDA of 5.4x (current quarter annualized) and 5.6x (trailing twelve months). The $0.3075 quarterly dividend represents about a 52.8% payout of Q4 FFO, leaving retained cash. 2026 Nareit FFO guidance of $2.33–$2.37 per share and same property NOI growth of 4.50%–5.50% suggests expectations for continued, though moderate, improvement.

02/09/2026 - 04:05 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): February 9, 2026

Brixmor Property Group Inc.

Brixmor Operating Partnership LP

(Exact Name of Registrant as Specified in Charter)



Maryland	001-36160	45-2433192
Delaware	333-256637-01	80-0831163
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

100 Park Avenue

New York, New York 10017

(Address of Principal Executive Offices, and Zip Code)

(212) 869-3000

(Registrant’s Telephone Number, Including Area Code)

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	BRX	New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):


☐			Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐			Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Brixmor Property Group Inc. Yes ☐ No ☑ Brixmor Operating Partnership LP Yes ☐ No ☑

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Brixmor Property Group Inc. ☐ Brixmor Operating Partnership LP ☐

Item 2.02 Results of Operations and Financial Condition.

On February 9, 2026, Brixmor Property Group Inc. (the "Company") issued a press release announcing its financial results and Supplemental Disclosure pertaining to its operations for the fourth quarter and year ended December 31, 2025. The press release is furnished as Exhibit 99.1 to this Report and the Supplemental Disclosure is furnished as Exhibit 99.2 to this Report.

As provided in General Instruction B.2 of Form 8-K, the information in this Item 2.02 and Exhibits 99.1 and 99.2 to this Form 8-K shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits

(d) The following exhibits are attached to this Current Report on Form 8-K


99.1						Press release issued February 9, 2026.

99.2						Brixmor Property Group Inc. Supplemental Financial Information for the fourth quarter ended December 31, 2025.

104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.



Date: February 9, 2026	BRIXMOR PROPERTY GROUP INC.

	By:	/s/ Steven F. Siegel
	Name:	Steven F. Siegel
	Title:	Executive Vice President,
		General Counsel and Secretary

	BRIXMOR OPERATING PARTNERSHIP LP

	By:	Brixmor OP GP LLC, its general partner

	By:	BPG Subsidiary LLC, its sole member

	By:	/s/ Steven F. Siegel
	Name:	Steven F. Siegel
	Title:	Executive Vice President,
		General Counsel and Secretary

Exhibit 99.1

100 Park Avenue : New York, NY 10017 : 800.468.7526

FOR IMMEDIATE RELEASE

CONTACT:

Stacy Slater

Senior Vice President, Investor Relations

800.468.7526

stacy.slater@brixmor.com

BRIXMOR PROPERTY GROUP REPORTS FOURTH QUARTER AND FULL YEAR 2025 RESULTS

- Delivered Record Annual Operating Results, Including Small Shop Occupancy -

- Executed a Record $70 Million of New Lease ABR -

NEW YORK, FEBRUARY 9, 2026 - Brixmor Property Group Inc. (NYSE: BRX) (“Brixmor” or the “Company”) announced today its operating results for the three and twelve months ended December 31, 2025. For the three months ended December 31, 2025 and 2024, net income attributable to Brixmor Property Group Inc. was $0.44 per diluted share and $0.27 per diluted share, respectively, and for the twelve months ended December 31, 2025 and 2024, net income attributable to Brixmor Property Group Inc. was $1.25 per diluted share and $1.11 per diluted share, respectively.

Key highlights for the three months ended December 31, 2025 include:

•Executed 1.5 million square feet of new and renewal leases, with rent spreads on comparable space of 24.2%, including 0.9 million square feet of new leases, with rent spreads on comparable space of 34.7%

•Sequentially increased total leased occupancy to 95.1%, anchor leased occupancy to 96.6%, and small shop leased occupancy to a record 92.2%

◦Commenced $19.6 million of annualized base rent

◦Leased to billed occupancy spread totaled 350 basis points

◦Total signed but not yet commenced new lease population represented 2.7 million square feet and $62.3 million of annualized base rent

•Reported an increase in same property NOI of 6.0%, including a contribution from base rent of 360 basis points

•Reported Nareit FFO of $178.4 million, or $0.58 per diluted share

•Stabilized $92.0 million of reinvestment projects at an average incremental NOI yield of 9%, with the in process reinvestment pipeline totaling $336.4 million at an expected average incremental NOI yield of 10%

•Completed $190.7 million of acquisitions and $170.2 million of dispositions

•Renewed the Company's $400.0 million share repurchase program and $400.0 million at-the-market (“ATM”) equity offering program

Key highlights for the twelve months ended December 31, 2025 include:

•Executed 6.0 million square feet of new and renewal leases, with rent spreads on comparable space of 21.7%, including 3.0 million square

feet of new leases, with rent spreads on comparable space of 38.7%

•Reported an increase in same property NOI of 4.2%, including a contribution from base rent of 360 basis points

•Reported Nareit FFO of $693.3 million, or $2.25 per diluted share

•Stabilized $183.3 million of reinvestment projects at an average incremental NOI yield of 10%

•Completed $416.8 million of acquisitions and $296.5 million of dispositions

•Issued $800.0 million aggregate principal amount of Senior Notes

•Amended and restated the Company's $1.75 billion unsecured credit facilities on April 24, 2025, extending the maturities and lowering pricing

•Published the Company's annual Corporate Responsibility Report on June 12, 2025

100 Park Avenue : New York, NY 10017 : 800.468.7526

•Appointed Brian T. Finnegan to Chief Executive Officer effective January 1, 2026, following the announced retirement of James M. Taylor Jr., the Company's former Chief Executive Officer; Mr. Finnegan also replaced Mr. Taylor on the Company's Board of Directors and retained the title of President

Subsequent events:

•Provided 2026 Nareit FFO per diluted share expectations of $2.33 - $2.37 and same property NOI growth expectations of 4.50% - 5.50%

•Completed $35.9 million of dispositions

“2025 was another exceptional year for the Brixmor team as we capitalized on demand from best-in-class tenants across a range of thriving retail categories to continue to drive growth and value for our stakeholders," commented Brian T. Finnegan, Chief Executive Officer and President. "Our solid execution across the Company, including the largest sequential occupancy gain in the Company’s history to end the year, has us well positioned to accelerate our business plan to deliver growth in 2026 and beyond."

FINANCIAL HIGHLIGHTS

Net Income Attributable to Brixmor Property Group Inc.

•For the three months ended December 31, 2025 and 2024, net income attributable to Brixmor Property Group Inc. was $137.1 million, or $0.44 per diluted share, and $83.4 million, or $0.27 per diluted share, respectively.

•For the twelve months ended December 31, 2025 and 2024, net income attributable to Brixmor Property Group Inc. was $386.2 million, or $1.25 per diluted share, and $339.3 million, or $1.11 per diluted share, respectively.

Nareit FFO

•For the three months ended December 31, 2025 and 2024, Nareit FFO was $178.4 million, or $0.58 per diluted share, and $161.4 million, or $0.53 per diluted share, respectively. Results for the three months ended December 31, 2025 and 2024 include items that impact FFO comparability, including transaction expenses, net, of $(0.0) million, or $(0.00) per diluted share, and $(0.7) million, or $(0.00) per diluted share, respectively.

•For the twelve months ended December 31, 2025 and 2024, Nareit FFO was $693.3 million, or $2.25 per diluted share, and $647.9 million, or $2.13 per diluted share, respectively. Results for the twelve months ended December 31, 2025 and 2024 include items that impact FFO comparability, including gain (loss) on extinguishment of debt, net and transaction expenses, net, of $(0.4) million, or $(0.00) per diluted share, and $(0.3) million, or $(0.00) per diluted share, respectively.

Same Property NOI Performance

•For the three months ended December 31, 2025, the Company reported an increase in same property NOI of 6.0% versus the comparable 2024 period.

•For the twelve months ended December 31, 2025, the Company reported an increase in same property NOI of 4.2% versus the comparable 2024 period.

Dividend

•The Company’s Board of Directors declared a quarterly cash dividend of $0.3075 per common share (equivalent to $1.23 per annum). The dividend is payable on April 15, 2026 to stockholders of record on April 2, 2026.

100 Park Avenue : New York, NY 10017 : 800.468.7526

PORTFOLIO AND INVESTMENT ACTIVITY

Value Enhancing Reinvestment Opportunities

•During the three months ended December 31, 2025, the Company stabilized nine value enhancing reinvestment projects with a total aggregate net cost of approximately $92.0 million at an average incremental NOI yield of 9% and added eight new reinvestment projects to its in process pipeline. Projects added include six anchor space repositioning projects, one outparcel development project, and one redevelopment project, with a total aggregate net estimated cost of approximately $56.1 million at an expected average incremental NOI yield of 11%.

•At December 31, 2025, the value enhancing reinvestment in process pipeline was comprised of 33 projects with an aggregate net estimated cost of approximately $336.4 million at an expected average incremental NOI yield of 10%. The in process pipeline includes 14 anchor space repositioning projects with an aggregate net estimated cost of approximately $63.9 million at an expected incremental NOI yield of 7% - 14%; six outparcel development projects with an aggregate net estimated cost of approximately $16.8 million at an expected average incremental NOI yield of 12%; and 13 redevelopment projects with an aggregate net estimated cost of approximately $255.8 million at an expected average incremental NOI yield of 10%.

•An in-depth review of a redevelopment project which highlights the Company's reinvestment capabilities, Barn Plaza (Philadelphia-Camden-Wilmington, PA-NJ-DE-MD CBSA), can be found at this link: https://www.brixmor.com/blog/barn-plaza-anchor-moves.

•Follow Brixmor on LinkedIn for video updates on reinvestment projects at https://www.linkedin.com/company/brixmor.

Acquisitions

•As previously announced, during the three months ended December 31, 2025, the Company acquired two shopping centers and one land parcel at an existing property for a combined purchase price of $190.7 million, including:

◦Chino Spectrum Towne Center, a 461,246 square foot grocery-anchored regional center located in the dense, high-income market of Chino Hills, California, less than 35 minutes east of Los Angeles, for $138.0 million.

◦Broomfield Town Centre, a 175,368 square foot grocery-anchored community shopping center located in the high-income Denver suburb of Broomfield, Colorado for $51.2 million.

•As previously announced, during the twelve months ended December 31, 2025, the Company acquired three shopping centers and two land parcels at existing properties for a combined purchase price of $416.8 million.

Dispositions

•As previously announced, during the three months ended December 31, 2025, the Company generated $170.2 million of gross proceeds on the disposition of eight shopping centers, as well as two partial properties.

•As previously announced, during the twelve months ended December 31, 2025, the Company generated $296.5 million of gross proceeds on the disposition of 18 shopping centers, as well as six partial properties.

•Subsequent to December 31, 2025, the Company generated approximately $35.9 million of proceeds on the disposition of two shopping centers.

CAPITAL STRUCTURE

•On October 28, 2025, the Company renewed its $400.0 million share repurchase program and its $400.0 million ATM equity offering program, which together will continue to provide Brixmor with maximum flexibility to capitalize on a wide range of potential capital markets environments and support the long-term execution of its business plan.

•During the twelve months ended December 31, 2025, the Company's Operating Partnership, Brixmor Operating Partnership LP (the “Operating Partnership”), issued $800.0 million aggregate principal amount of Senior Notes.

iii

100 Park Avenue : New York, NY 10017 : 800.468.7526

•On April 24, 2025, the Operating Partnership amended and restated its $1.25 billion revolving credit facility and $500.0 million term loan facility. The restated unsecured credit facilities extend the maturity of the revolving credit facility to April 2029, extend the maturity of the term loan facility to April 2030, and improve the pricing of the unsecured credit facilities.

•At December 31, 2025, the Company had $1.6 billion in liquidity.

•At December 31, 2025, the Company's net principal debt to adjusted EBITDA, current quarter annualized was 5.4x and net principal debt to adjusted EBITDA, trailing twelve months was 5.6x.

GUIDANCE

•The Company expects 2026 NAREIT FFO per diluted share of $2.33 - $2.37 and same property NOI growth of 4.50% - 5.50%.

◦Revenues deemed uncollectible is expected to total 75 - 100 bps of total expected revenues in 2026.

◦2026 expectations do not include any items that impact FFO comparability, which include gain or loss on extinguishment of debt, net and transaction expenses, net, or any other one-time items.

•The following table provides a bridge from the Company's 2025 Nareit FFO per diluted share to the Company's 2026 expected Nareit FFO per diluted share:


	Low	High
2025 Nareit FFO per diluted share	$2.25	$2.25
Same property NOI growth	0.14	0.17
Interest expense	(0.03)	(0.03)
Lease termination fees	(0.03)	(0.03)
Non-cash GAAP rental adjustments 1	(0.02)	(0.01)
Impact of transaction activity	0.01	0.01
General and administrative expense and other 2	0.01	0.01
2026E Nareit FFO per diluted share	$2.33	$2.37

1.Includes straight-line rental income, net, accretion of below-market leases, net of amortization of above-market leases and tenant inducements, and straight-line ground rent expense.

2.Includes general and administrative expense, dividends and interest, non-real estate depreciation and amortization, and other income (expense).

•The following table provides a reconciliation of the range of the Company's 2026 estimated net income attributable to Brixmor Property Group Inc. to Nareit FFO:


(Unaudited, dollars in millions, except per share amounts)	2026E	2026E Per Diluted Share
Net income attributable to Brixmor Property Group Inc.	$299 - $312	$0.97 - $1.01
Depreciation and amortization related to real estate	418	1.36
Nareit FFO	$717 - $730	$2.33 - $2.37

CONNECT WITH BRIXMOR

•For additional information, please visit https://www.brixmor.com;

•Follow Brixmor on:

◦LinkedIn at https://www.linkedin.com/company/brixmor

◦Facebook at https://www.facebook.com/Brixmor

◦Instagram at https://www.instagram.com/brixmorpropertygroup; and

◦YouTube at https://www.youtube.com/user/Brixmor.

100 Park Avenue : New York, NY 10017 : 800.468.7526

CONFERENCE CALL AND SUPPLEMENTAL INFORMATION

The Company will host a teleconference on Tuesday, February 10, 2026 at 10:00 AM ET. To participate, please dial 877.704.4453 (domestic) or 201.389.0920 (international) within 15 minutes of the scheduled start of the call. The teleconference can also be accessed via a live webcast at https://www.brixmor.com in the Investors section. A replay of the teleconference will be available through February 24, 2026 by dialing 844.512.2921 (domestic) or 412.317.6671 (international) (Passcode: 13757055) or via the web through February 10, 2027 at https://www.brixmor.com in the Investors section.

The Company’s Supplemental Disclosure will be posted at https://www.brixmor.com in the Investors section. These materials are also available to all interested parties upon request to the Company at investorrelations@brixmor.com or 800.468.7526

NON-GAAP PERFORMANCE MEASURES

The Company presents the non-GAAP performance measures set forth below. These measures should not be considered as alternatives to, or more meaningful than, net income (calculated in accordance with GAAP) or other GAAP financial measures, as an indicator of financial performance and are not alternatives to, or more meaningful than, cash flow from operating activities (calculated in accordance with GAAP) as a measure of liquidity. Non-GAAP performance measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always be considered as supplemental financial results to those calculated in accordance with GAAP. The Company’s computation of these non-GAAP performance measures may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to similarly titled measures presented by such other REITs. Investors are cautioned that items excluded from these non-GAAP performance measures are relevant to understanding and addressing financial performance. A reconciliation of net income to these non-GAAP performance measures is presented in the attached tables.

Nareit FFO

Nareit FFO is a supplemental, non-GAAP performance measure utilized to evaluate the operating and financial performance of real estate companies. Nareit defines FFO as net income (calculated in accordance with GAAP) excluding (i) depreciation and amortization related to real estate, (ii) gains and losses from the sale of certain real estate assets, (iii) gains and losses from change in control, (iv) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity and (v) after adjustments for unconsolidated joint ventures calculated to reflect FFO on the same basis. Considering the nature of its business as a real estate owner and operator, the Company believes that Nareit FFO is useful to investors in measuring its operating and financial performance because the definition excludes items included in net income (calculated in accordance with GAAP) that do not relate to or are not indicative of the Company’s operating and financial performance, such as depreciation and amortization related to real estate, and items which can make periodic and peer analyses of operating and financial performance more difficult, such as gains and losses from the sale of certain real estate assets and impairment write-downs of certain real estate assets.

Same Property NOI

Same property NOI is a supplemental, non-GAAP performance measure utilized to evaluate the operating performance of real estate companies. Same property NOI is calculated (using properties owned for the entirety of both periods and excluding properties under development and completed new development properties that have been stabilized for less than one year) as total property revenues (base rent, expense reimbursements, adjustments for revenues deemed uncollectible, ancillary and other rental income, percentage rents, and other revenues) less direct property operating expenses (operating costs and real estate taxes). Same property NOI excludes (i) lease termination fees, (ii) straight-line rental income, net, (iii) accretion of below-market leases, net of amortization of above-market leases and tenant inducements, (iv) straight-line ground rent expense, net, (v) income or expense associated with the Company's captive insurance company, (vi) depreciation and amortization, (vii) impairment of real estate assets, (viii) general and administrative expense, and (ix) other income and expense (including

100 Park Avenue : New York, NY 10017 : 800.468.7526

interest expense and gain on sale of real estate assets). Considering the nature of its business as a real estate owner and operator, the Company believes that NOI is useful to investors in measuring the operating performance of its portfolio because the definition excludes various items included in net income that do not relate to, or are not indicative of, the operating performance of the Company’s properties, such as lease termination fees, straight-line rental income, net, income or expense associated with the Company’s captive insurance company, accretion of below-market leases, net of amortization of above-market leases and tenant inducements, straight-line ground rent expense, net, depreciation and amortization, impairment of real estate assets, general and administrative expense, and other income and expense (including interest expense and gain on sale of real estate assets). The Company believes that same property NOI is also useful to investors because it further eliminates disparities in NOI by only including NOI of properties owned for the entirety of both periods presented and excluding properties under development and completed new development properties that have been stabilized for less than one year and therefore provides a more consistent metric for comparing the operating performance of the Company's real estate between periods.

Net Principal Debt to Adjusted EBITDA, current quarter annualized & Net Principal Debt to Adjusted EBITDA, trailing twelve months

Net principal debt to adjusted EBITDA, current quarter annualized and net principal debt to adjusted EBITDA, trailing twelve months are supplemental non-GAAP measures utilized to evaluate the performance of real estate companies in relation to outstanding debt. Net principal debt is calculated as Debt obligations, net (calculated in accordance with GAAP) excluding net unamortized premium or discount and deferred financing fees less cash, cash equivalents, and restricted cash. Adjusted EBITDA is calculated as the sum of net income (calculated in accordance with GAAP) before non-controlling interests excluding (i) interest expense, (ii) federal and state taxes, (iii) depreciation and amortization, (iv) gains and losses from the sale of certain real estate assets, (v) gains and losses from change in control, (vi) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity, (vii) gain (loss) on extinguishment of debt, net, and (viii) other items that the Company believes are not indicative of the Company's operating performance. Net principal debt to adjusted EBITDA, current quarter annualized and net principal debt to adjusted EBITDA, trailing twelve months are calculated as net principal debt divided by quarterly annualized adjusted EBITDA or trailing twelve month adjusted EBITDA, respectively. Considering the nature of its business as a real estate owner and operator, the Company believes that net principal debt to adjusted EBITDA, current quarter annualized and net principal debt to adjusted EBITDA, trailing twelve months are useful to investors in measuring its operating performance because they exclude items included in net income (calculated in accordance with GAAP) that do not relate to or are not indicative of the operating performance of the Company’s real estate, are widely known and understood measures of performance, independent of a company's capital structure and items which can make periodic and peer analyses of performance more difficult, and can provide investors with a more consistent basis by which to compare the Company with its peers.

ABOUT BRIXMOR PROPERTY GROUP

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 348 retail centers comprise approximately 63 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor’s vision “to be the center of the communities we serve” and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a valued partner to a broad range of retailers, including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.

Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the “Investors” page of its website at https://www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.

100 Park Avenue : New York, NY 10017 : 800.468.7526

SAFE HARBOR LANGUAGE

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under the sections entitled “Forward-Looking Statements” and “Risk Factors” in our Form 10-K for the year ended December 31, 2025, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at https://www.sec.gov. These factors include (1) changes in national, regional, and local economies, due to global events such as international military conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, ongoing levels of inflation and interest rates, unemployment, or limited growth in consumer income or spending; (2) local real estate market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in our Portfolio (defined hereafter); (3) competition from other available properties and e-commerce; (4) disruption and/or consolidation in the retail sector, the financial stability of our tenants, and the overall financial condition of large retailing companies, including their ability to pay rent and/or expense reimbursements that are due to us; (5) in the case of percentage rents, the sales volumes of our tenants; (6) increases in property operating expenses, including common area expenses, utilities, insurance, and real estate taxes, which are relatively inflexible and generally do not decrease if revenue or occupancy decrease; (7) increases in the costs to repair, renovate, and re-lease space; (8) earthquakes, wildfires, tornadoes, hurricanes, damage from rising sea levels due to climate change, other natural disasters, epidemics and/or pandemics, civil unrest, terrorist acts, or acts of war, any of which may result in uninsured or underinsured losses; (9) changes in laws and governmental regulations, including those governing usage, zoning, the environment, privacy, data security, intellectual property rights, and taxes; and (10) risks related to cybersecurity incidents or other disruptions to information technology systems used by us, our tenants, or our vendors, which could compromise data or impair business operations. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our periodic filings. The forward-looking statements speak only as of the date of this press release, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law.

###

vii


CONSOLIDATED BALANCE SHEETS
Unaudited, dollars in thousands, except share information

				As of		As of
				12/31/25		12/31/24
	Assets
		Real estate
			Land	$	1,849,779	$	1,834,814
			Buildings and tenant improvements	9,296,849		8,895,571
			Construction in progress	92,129		152,260
			Lease intangibles	548,740		526,412
				11,787,497		11,409,057
			Accumulated depreciation and amortization	(3,588,646)		(3,410,179)
		Real estate, net		8,198,851		7,998,878
		Cash and cash equivalents		334,422		377,616
		Restricted cash		27,108		1,076
		Marketable securities		21,283		20,301
		Receivables, net, including straight-line rent receivables of $237,837 and $208,785, respectively		315,128		281,947
		Deferred charges and prepaid expenses, net		169,326		167,080
		Real estate assets held for sale		4,551		4,189
		Other assets		62,468		57,827
	Total assets			$	9,133,137	$	8,908,914

	Liabilities
		Debt obligations, net		$	5,494,753	$	5,339,751
		Accounts payable, accrued expenses and other liabilities		628,328		585,241
	Total liabilities			6,123,081		5,924,992

	Equity
		Common stock, $0.01 par value; authorized 3,000,000,000 shares;
			315,231,761 and 314,619,008 shares issued and 306,104,769 and 305,492,016
			shares outstanding	3,061		3,055
		Additional paid-in capital		3,437,853		3,431,043
		Accumulated other comprehensive income		1,722		8,218
		Distributions in excess of net income		(432,822)		(458,638)
		Total stockholders' equity		3,009,814		2,983,678
			Non-controlling interests	242		244
	Total equity			3,010,056		2,983,922
	Total liabilities and equity			$	9,133,137	$	8,908,914


			vi


CONSOLIDATED STATEMENTS OF OPERATIONS
Unaudited, dollars in thousands, except per share amounts

			Three Months Ended				Twelve Months Ended
			12/31/25		12/31/24		12/31/25		12/31/24
	Revenues
		Rental income	$	352,209	$	328,356	$	1,369,465	$	1,283,421
		Other revenues	1,541		86		2,132		1,633
	Total revenues		353,750		328,442		1,371,597		1,285,054

	Operating expenses
		Operating costs	44,306		42,307		162,285		152,825
		Real estate taxes	44,324		43,632		178,231		164,291
		Depreciation and amortization	102,822		103,331		414,930		381,396
		Impairment of real estate assets	4,386		—		20,461		11,143
		General and administrative	28,631		27,933		112,669		116,363
	Total operating expenses		224,469		217,203		888,576		826,018

	Other income (expense)
		Dividends and interest	3,649		4,978		7,736		20,776
		Interest expense	(59,516)		(55,441)		(224,689)		(215,994)
		Gain on sale of real estate assets	64,496		24,090		123,339		78,064
		Gain (Loss) on extinguishment of debt, net	—		—		(296)		554
		Other	(780)		(1,460)		(2,856)		(3,160)
	Total other expense		7,849		(27,833)		(96,766)		(119,760)

	Net income		137,130		83,406		386,255		339,276
	Net income attributable to non-controlling interests		(5)		(2)		(27)		(2)
	Net income attributable to Brixmor Property Group Inc.		$	137,125	$	83,404	$	386,228	$	339,274

	Net income attributable to Brixmor Property Group Inc. per common share:
		Basic	$	0.45	$	0.27	$	1.26	$	1.12
		Diluted	$	0.44	$	0.27	$	1.25	$	1.11
	Weighted average shares:
		Basic	307,232		305,042		307,181		303,130
		Diluted	307,933		306,052		307,866		304,038


			vii


FUNDS FROM OPERATIONS (FFO)
Unaudited, dollars in thousands, except per share amounts

			Three Months Ended						Twelve Months Ended
			12/31/25			12/31/24			12/31/25			12/31/24

	Net income attributable to Brixmor Property Group Inc.		$	137,125		$	83,404		$	386,228		$	339,274
		Depreciation and amortization related to real estate	101,413			102,125			409,947			375,511
		Gain on sale of real estate assets	(64,496)			(24,090)			(123,339)			(78,064)
		Impairment of real estate assets	4,386			—			20,461			11,143
	Nareit FFO		$	178,428		$	161,439		$	693,297		$	647,864

	Nareit FFO per diluted share		$	0.58		$	0.53		$	2.25		$	2.13
	Weighted average diluted shares outstanding		307,933			306,052			307,866			304,038

	Items that impact FFO comparability
		Gain (Loss) on extinguishment of debt, net	$	—		$	—		$	(296)		$	554
		Transaction expenses, net	(36)			(748)			(58)			(879)

	Total items that impact FFO comparability		$	(36)		$	(748)		$	(354)		$	(325)
	Items that impact FFO comparability, net per share		$	(0.00)		$	(0.00)		$	(0.00)		$	(0.00)

	Additional Disclosures
		Straight-line rental income, net	$	6,324		$	7,198		$	33,444		$	30,867
		Accretion of below-market leases, net of amortization of above-market leases and tenant inducements	2,747			3,327			14,560			8,562
		Straight-line ground rent expense, net (1)	(158)			(87)			(591)			(68)

	Dividends declared per share		$	0.3075		$	0.2875		$	1.1700		$	1.1050
	Dividends declared		$	94,127		$	87,829		$	358,126		$	334,362
	Dividend payout ratio (as % of Nareit FFO)		52.8		%	54.4		%	51.7		%	51.6		%

(1) Straight-line ground rent expense, net is included in Operating costs on the Consolidated Statements of Operations.


			viii


SAME PROPERTY NOI ANALYSIS
Unaudited, dollars in thousands

			Three Months Ended								Twelve Months Ended
			12/31/25			12/31/24			Change		12/31/25			12/31/24			Change
	Same Property NOI Analysis
	Number of properties		337			337			—		332			332			—
	Percent billed		91.7		%	91.6		%	0.1	%	91.7		%	91.5		%	0.2	%
	Percent leased		95.3		%	95.6		%	(0.3)	%	95.3		%	95.6		%	(0.3)	%

	Revenues
		Base rent	$	232,386		$	224,505				$	903,042		$	871,807
		Expense reimbursements	76,988			74,212					292,077			275,598
		Revenues deemed uncollectible	(3,591)			(3,378)					(10,987)			(8,655)
		Ancillary and other rental income / Other revenues	10,270			5,717					32,323			23,146
		Percentage rents	1,411			1,867					8,978			9,534
			317,464			302,923			4.8	%	1,225,433			1,171,430			4.6	%
	Operating expenses
		Operating costs	(40,810)			(39,837)					(149,004)			(142,965)
		Real estate taxes	(42,024)			(41,686)					(166,157)			(154,932)
			(82,834)			(81,523)			1.6	%	(315,161)			(297,897)			5.8	%
	Same property NOI		$	234,630		$	221,400		6.0	%	$	910,272		$	873,533		4.2	%

	NOI margin		73.9		%	73.1		%			74.3		%	74.6		%
	Expense recovery ratio		92.9		%	91.0		%			92.7		%	92.5		%

	Percent Contribution to Same Property NOI Performance:
			Change			Percent Contribution					Change			Percent Contribution
		Base rent	$	7,881		3.6		%			$	31,235		3.6		%
		Revenues deemed uncollectible	(213)			(0.1)		%			(2,332)			(0.3)		%
		Net expense reimbursements	1,465			0.7		%			(785)			(0.1)		%
		Ancillary and other rental income / Other revenues	4,553			2.0		%			9,177			1.1		%
		Percentage rents	(456)			(0.2)		%			(556)			(0.1)		%
						6.0		%						4.2		%

	Reconciliation of Net income attributable to Brixmor Property Group Inc. to Same Property NOI
	Net income attributable to Brixmor Property Group Inc.		$	137,125		$	83,404				$	386,228		$	339,274
	Adjustments:
		Non-same property NOI	(12,251)			(9,607)					(58,007)			(51,436)
		Lease termination fees	(9,326)			(1,058)					(15,389)			(3,608)
		Straight-line rental income, net	(6,324)			(7,198)					(33,444)			(30,867)
		Accretion of below-market leases, net of amortization of above-market leases and tenant inducements	(2,747)			(3,327)					(14,560)			(8,562)
		Straight-line ground rent expense, net	158			87					591			68
		Depreciation and amortization	102,822			103,331					414,930			381,396
		Impairment of real estate assets	4,386			—					20,461			11,143
		General and administrative	28,631			27,933					112,669			116,363
		Total other expense	(7,849)			27,833					96,766			119,760
		Net income attributable to non-controlling interests	5			2					27			2
	Same property NOI		$	234,630		$	221,400				$	910,272		$	873,533


			ix


EBITDA & RECONCILIATION OF DEBT OBLIGATIONS, NET TO NET PRINCIPAL DEBT
Unaudited, dollars in thousands

			Three Months Ended				Twelve Months Ended
			12/31/25		12/31/24		12/31/25		12/31/24

	Net income		$	137,130	$	83,406	$	386,255	$	339,276
		Interest expense	59,516		55,441		224,689		215,994
		Federal and state taxes	652		758		2,765		2,740
		Depreciation and amortization	102,822		103,331		414,930		381,396
	EBITDA		300,120		242,936		1,028,639		939,406
		Gain on sale of real estate assets	(64,496)		(24,090)		(123,339)		(78,064)
		Impairment of real estate assets	4,386		—		20,461		11,143
	EBITDAre		$	240,010	$	218,846	$	925,761	$	872,485

	EBITDAre		$	240,010	$	218,846	$	925,761	$	872,485
		(Gain) Loss on extinguishment of debt, net	—		—		296		(554)
		Transaction expenses, net	36		748		58		879

		Total adjustments	36		748		354		325
	Adjusted EBITDA		$	240,046	$	219,594	$	926,115	$	872,810

	Adjusted EBITDA		$	240,046	$	219,594	$	926,115	$	872,810
		Straight-line rental income, net	(6,324)		(7,198)		(33,444)		(30,867)
		Accretion of below-market leases, net of amortization of above-market leases and tenant inducements	(2,747)		(3,327)		(14,560)		(8,562)
		Straight-line ground rent expense, net (1)	158		87		591		68
		Total adjustments	(8,913)		(10,438)		(47,413)		(39,361)
	Cash Adjusted EBITDA		$	231,133	$	209,156	$	878,702	$	833,449

(1) Straight-line ground rent expense, net is included in Operating costs on the Consolidated Statements of Operations.

	Reconciliation of Debt Obligations, Net to Net Principal Debt
			As of
			12/31/25
	Debt obligations, net		$	5,494,753
	Less: Net unamortized premium		(10,277)
	Add: Deferred financing fees		33,977
	Less: Cash, cash equivalents and restricted cash		(361,530)
	Net Principal Debt		$	5,156,923

	Adjusted EBITDA, current quarter annualized		$	960,184
	Net Principal Debt to Adjusted EBITDA, current quarter annualized		5.4x

	Adjusted EBITDA, trailing twelve months		$	926,115
	Net Principal Debt to Adjusted EBITDA, trailing twelve months		5.6x


			x

Exhibit 99.2



>			SUPPLEMENTAL DISCLOSURE


			Three Months Ended December 31, 2025


TABLE OF CONTENTS

				Page
		Glossary of Terms		1
		Results Overview & Guidance		3
		Financial Summary
			Consolidated Balance Sheets	5
			Consolidated Statements of Operations	6
			EBITDA & Reconciliation of Debt Obligations, Net to Net Principal Debt	7
			Funds From Operations (FFO)	8
			Supplemental Balance Sheet Detail	9
			NOI & Supplemental Statement of Operations Detail	10
			Same Property NOI Analysis	11
			Capital Expenditures	12
			Capitalization, Liquidity & Debt Ratios	13
			Debt Obligations	14
			Covenant Disclosure	15
		Investment Summary
			Acquisitions	17
			Dispositions	18
			Anchor Space Repositioning Summary	19
			Outparcel Development Summary	20
			Redevelopment Summary	21
			Future Redevelopment Opportunities	23
		Portfolio Summary
			Portfolio Overview	26
			Portfolio Composition	27
			Top Forty Retailers Ranked by ABR	28
			New & Renewal Lease Summary	29
			New Lease Net Effective Rent & Leases Signed But Not Yet Commenced	30
			Lease Expiration Schedule	31
			Major CBSA Detail	32
			Properties by State	35
			Property List	36

	Note: Financial and operational information is unaudited.

	For additional information, please visit https://www.brixmor.com; follow Brixmor on LinkedIn at https://www.linkedin.com/company/brixmor, Facebook at https://www.facebook.com/Brixmor, Instagram at https://www.instagram.com/brixmorpropertygroup, and YouTube at https://www.youtube.com/user/Brixmor.

	This Supplemental Disclosure may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to the Company’s expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the sections entitled “Forward-Looking Statements” and “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as such factors may be updated from time to time in the Company's periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company’s other periodic filings with the SEC. The forward looking statements speak only as of the date of this release, and the Company expressly disclaims any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law.


Supplemental Disclosure - Three Months Ended December 31, 2025

GLOSSARY OF TERMS

↩ Table of

Contents

Term

Definition

Anchor Spaces

Spaces equal to or greater than 10,000 square feet ("SF") of GLA.

Anchor Space Repositioning

Anchor leasing that is primarily focused on reconfiguring or significantly remerchandising existing space with minimal work required outside of normal tenant improvement and landlord costs.

Annualized Base Rent ("ABR")

Contractual monthly base rent as of a specified date, under leases that have been signed or commenced as of the specified date, multiplied by 12. Annualized base rent differs from how rent is calculated in accordance with GAAP for purposes of financial statements. See Straight-line Rent definition for additional information. For purposes of calculating ABR, all signed or commenced leases with an initial term of one year or greater are included and all signed leases on space that will be vacated by existing tenants in the near term are excluded.

ABR PSF

ABR divided by leased GLA, excluding the GLA of lessee-owned leasehold improvements.

Billed GLA

Aggregate GLA of all commenced leases with an initial term of one year or greater, as of a specified date.

Core-Based Statistical Areas ("CBSA")

Defined by the United States Census Bureau as the collection of both Metropolitan and Micropolitan Statistical Areas. Metropolitan Statistical Areas are defined as a region associated with at least one urbanized area that has a population of at least 50,000 and comprises the central county or counties containing the core, plus adjacent outlying counties having a high degree of social and economic integration with the central county or counties as measured through commuting. Micropolitan Statistical Areas are defined as a region with at least one urbanized area that has a population of at least 10,000 but less than 50,000, plus adjacent territories that have a high degree of social and economic integration with the central county or counties as measured through commuting.
References to CBSA rank are based on population estimates from Synergos Technologies, Inc.

EBITDA, EBITDAre, Adjusted EBITDA, Cash Adjusted EBITDA, Net Principal Debt to Adjusted EBITDA, current quarter annualized, & Net Principal Debt to Adjusted EBITDA, trailing twelve months

Supplemental, non-GAAP performance measures. Please see below for more information on the limitations of non-GAAP performance measures.

A reconciliation of net income (calculated in accordance with GAAP) before non-controlling interests to each of these measures is provided on page 7.

EBITDA is calculated as the sum of net income (calculated in accordance with GAAP) before non-controlling interests excluding (i) interest expense, (ii) federal and state taxes, and (iii) depreciation and amortization. EBITDAre, which is computed in accordance with Nareit's definition, represents EBITDA excluding (i) gains and losses from the sale of certain real estate assets, (ii) gains and losses from change in control, (iii) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity. Adjusted EBITDA represents EBITDAre excluding (i) gain (loss) on extinguishment of debt, net and (ii) other items that the Company believes are not indicative of the Company's operating performance. Cash Adjusted EBITDA represents Adjusted EBITDA excluding (i) straight-line rental income, net, (ii) accretion of below-market leases, net of amortization of above-market leases and tenant inducements and (iii) straight-line ground rent expense, net. Net Principal Debt to Adjusted EBITDA, current quarter annualized and Net Principal Debt to Adjusted EBITDA, trailing twelve months are calculated as Net Principal Debt divided by quarterly annualized Adjusted EBITDA or trailing twelve month Adjusted EBITDA, respectively. EBITDA, EBITDAre, Adjusted EBITDA, Cash Adjusted EBITDA, Net Principal Debt to Adjusted EBITDA, current quarter annualized, and Net Principal Debt to Adjusted EBITDA, trailing twelve months are calculated after adjustments for unconsolidated joint ventures to reflect each measure on the same basis.

Generally Accepted Accounting Principles ("GAAP")

GAAP refers to a common set of United States of America accounting rules, standards, and procedures issued by the Financial Accounting Standards Board.

Gross Leasable Area ("GLA")

Represents the total amount of leasable property square footage.

Leased GLA

Aggregate GLA of all signed or commenced leases with an initial term of one year or greater, as of a specified date, excluding all signed leases on space that will be vacated by existing tenants in the near term.

Local Tenants

Single-state operators with fewer than 20 locations.

Major Tenants

Any grocer and all national / regional anchor tenants.

Nareit

National Association of Real Estate Investment Trusts.

Nareit Funds From Operations (“FFO")

A supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP performance measures. A reconciliation of net income (calculated in accordance with GAAP) to Nareit FFO is provided on page 8.

Nareit defines FFO as net income (calculated in accordance with GAAP) excluding (i) depreciation and amortization related to real estate, (ii) gains and losses from the sale of certain real estate assets, (iii) gains and losses from change in control, (iv) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity and (v) after adjustments for unconsolidated joint ventures calculated to reflect FFO on the same basis.

National / Regional Tenants

Multi-state operators or single-state operators with 20 or more locations and state agencies and government offices. Includes franchise locations.

Net Effective Rent Before Tenant Specific Landlord Work

Average ABR PSF over the lease term adjusted for tenant improvements and allowances (excluding base building costs) and third-party leasing commissions. For purposes of calculating net effective rent before tenant specific landlord work, ABR PSF includes the GLA of lessee-owned leasehold improvements.

Net Operating Income ("NOI")

A supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP performance measures.

A reconciliation of net income (calculated in accordance with GAAP) to NOI is provided on page 10.

Calculated as total property revenues (base rent, expense reimbursements, adjustments for revenues deemed uncollectible, ancillary and other rental income, percentage rents, and other revenues) less direct property operating expenses (operating costs and real estate taxes). NOI excludes (i) lease termination fees, (ii) straight-line rental income, net, (iii) accretion of below-market leases, net of amortization of above-market leases and tenant inducements, (iv) straight-line ground rent expense, net, (v) depreciation and amortization, (vi) impairment of real estate assets, (vii) general and administrative expense, and (viii) other income and expense (including interest expense and gain on sale of real estate assets).

Net Principal Debt

Debt obligations, net, calculated in accordance with GAAP, excluding net unamortized premium or discount and deferred financing fees less cash, cash equivalents, and restricted cash. A reconciliation of debt obligations, net to Net Principal Debt is provided on page 7.

New Development

Refers to ground up development of new shopping centers. Does not refer to outparcel development.

New Development & Reinvestment Stabilization

New Development and Reinvestment projects are deemed stabilized upon reaching 90.0% billed occupancy of the impacted space. New Development projects are included in the operating portfolio upon the earlier of (i) reaching 90.0% billed occupancy of the impacted space or (ii) one year after the associated assets are placed in service.

NOI Yield

Calculated as the projected incremental NOI as a percentage of the estimated incremental third-party costs of a specified project, net of any project specific credits (lease termination fees or other ancillary credits).

Non-controlling Interests

Relate to the portion of Brixmor Property Group Inc. held by the non-controlling interest holders.

Non-owned Major Tenants

Also known as shadow anchors. Refers to tenants that are situated on parcels that are owned by unrelated third parties, but, due to their location within or immediately adjacent to a shopping center, appear to the consumer as a retail tenant of the shopping center and, as a result, attract additional consumer traffic to the center.

Outparcel(s)

Refers to a portion of a shopping center, separate from the main retail buildings and generally located on the outer edge of a property, which may currently, or in the future, contain one or several freestanding buildings.

Outparcel Development

Construction of a new outparcel. May also refer to the demolition of an existing outparcel building to accommodate the construction of a new outparcel.

Percent Billed

Billed GLA as a percentage of total GLA.

Percent Leased

Leased GLA as a percentage of total GLA.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 1

GLOSSARY OF TERMS

↩ Table of

Contents

Term

Definition

PSF

Per square foot of GLA.

Redevelopment

Larger scale projects that typically involve new construction, reconfiguration, significant remerchandising, and upgrades or demolition of a portion of the shopping center to accommodate new retailers.

Reinvestment Projects

Represents anchor space repositioning, outparcel development, and/or redevelopment projects.

Rent Spread

Represents the percentage change in contractual ABR PSF in the first year of the new lease relative to contractual ABR PSF in the last year of the old lease. Rent spreads are presented only for leases deemed comparable. For purposes of calculating rent spreads, ABR PSF includes the GLA of lessee-owned leasehold improvements.

New Rent Spread

Includes new leases signed on units that were occupied within the prior 12 months. New leases signed on units that have been vacant for longer than 12 months, new leases signed on first generation space, and new leases that are ancillary in nature regardless of term are deemed non-comparable and excluded from New Rent Spreads.

Renewal Rent Spread

Includes renewal leases signed with the same tenant in all or a portion of the same location or that include the expansion into space that was occupied within the prior 12 months. Renewals that include the expansion of an existing tenant into space that has been vacant for longer than 12 months and renewals that are ancillary in nature regardless of term are deemed non-comparable and excluded from Renewal Rent Spreads.

Option Rent Spread

Includes contractual renewal options exercised by tenants in the same location to extend the term of an expiring lease.

Total Rent Spread

Combined spreads for new, renewal, and option leases.

Same Property NOI

Represents NOI of properties owned for the entirety of both periods and excluding properties under development and completed New Development properties that have been stabilized for less than one year. Same Property NOI excludes income or expense associated with the Company's captive insurance company.

Number of Properties in Same Property NOI Analysis:

Three Months
Ended 12/31/25

Twelve Months
Ended 12/31/25

Total properties in Brixmor Property Group portfolio

348

Acquired properties excluded from Same Property NOI

(7)

(10)

Additional exclusions (1)

(4)

(6)

Same Property NOI pool (2)

337

332

(1) Additional exclusions for the three months ended December 31, 2025 and 2024 include four properties that were subject to partial dispositions in 2025. Additional exclusions for the twelve months ended December 31, 2025 and 2024 include two properties that were subject to partial dispositions in 2024 and four properties that were subject to partial dispositions in 2025.

(2) The Same Property NOI pool includes the balance of a shopping center when an outparcel has been acquired or if a partial disposition can be disaggregated from the remaining property. Two outparcels acquired in 2025 are excluded from the Same Property NOI pool for the three months ended December 31, 2025 and 2024. One outparcel acquired in 2024 and two outparcels acquired in 2025 are excluded from the Same Property NOI pool for the twelve months ended December 31, 2025 and 2024.

Small Shop Spaces

Spaces less than 10,000 SF of GLA.

Secured Overnight Financing Rate ("SOFR")

SOFR is a benchmark interest rate for dollar-denominated derivatives and loans that replaced the London Interbank Offered Rate ("LIBOR").

Straight-line Rent

Non-cash revenue recognized related to the GAAP requirement to average a tenant's contractual base rent over the life of the lease. The Company commences recognizing rental revenue based on the date it makes the underlying asset available for use by the tenant. The cumulative difference between rental revenue recognized and contractual payment terms is recognized as deferred rent and included in Receivables, net on the Consolidated Balance Sheets. The Company periodically evaluates the collectability of its receivables related to straight-line rent. Any receivables that are deemed to be uncollectible are recognized as a reduction to straight-line rental income, net.

Year Built

Year of most recent redevelopment or year built if no redevelopment has occurred.

Non-GAAP Performance Measures

The Company believes that the non-GAAP performance measures it presents are useful to investors for the following reasons:

  • EBITDA, EBITDAre, Adjusted
       EBITDA, Cash Adjusted EBITDA,
       Net Principal Debt to
       Adjusted EBITDA, current
       quarter annualized, & Net
       Principal Debt to Adjusted
       EBITDA, trailing twelve months

Considering the nature of its business as a real estate owner and operator, the Company believes that EBITDA, EBITDAre, Adjusted EBITDA, Cash Adjusted EBITDA, Net Principal Debt to Adjusted EBITDA, current quarter annualized, and Net Principal Debt to Adjusted EBITDA, trailing twelve months, are useful to investors in measuring its operating performance because they exclude items included in net income (calculated in accordance with GAAP) before non-controlling interests that do not relate to or are not indicative of the operating performance of the Company’s real estate. The Company believes EBITDA, EBITDAre, Adjusted EBITDA, Cash Adjusted EBITDA, Net Principal Debt to Adjusted EBITDA, current quarter annualized, and Net Principal Debt to Adjusted EBITDA, trailing twelve months are widely known and understood measures of performance, independent of a company's capital structure and items which can make periodic and peer analyses of performance more difficult, and that these metrics can provide investors with a more consistent basis by which to compare the Company with its peers.

• Nareit FFO

Considering the nature of its business as a real estate owner and operator, the Company believes that Nareit FFO is useful to investors in measuring its operating and financial performance because the definition excludes items included in net income (calculated in accordance with GAAP) that do not relate to or are not indicative of the Company’s operating and financial performance, such as depreciation and amortization related to real estate, and items which can make periodic and peer analyses of operating and financial performance more difficult, such as gains and losses from the sale of certain real estate assets and impairment write-downs of certain real estate assets.

• NOI and Same Property NOI

Considering the nature of its business as a real estate owner and operator, the Company believes that NOI is useful to investors in measuring the operating performance of its portfolio because the definition excludes various items included in net income (calculated in accordance with GAAP) that do not relate to, or are not indicative of, the operating performance of the Company’s properties, such as lease termination fees, straight-line rental income, net, accretion of below-market leases, net of amortization of above-market leases and tenant inducements, straight-line ground rent expense, net, income or expense associated with the Company's captive insurance company, depreciation and amortization, impairment of real estate assets, general and administrative expense, and other income and expense (including interest expense and gain on sale of real estate assets). The Company believes that Same Property NOI is also useful to investors because it further eliminates disparities in NOI by only including NOI of properties owned for the entirety of both periods presented and excluding properties under development and completed New Development properties that have been stabilized for less than one year and therefore provides a more consistent metric for comparing the operating performance of the Company's real estate between periods.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 2


RESULTS OVERVIEW & GUIDANCE												↩ Table of Contents
Unaudited, dollars in thousands, except per share and per square foot amounts

				Three Months Ended				Twelve Months Ended
	Summary Financial Results			12/31/25		12/31/24		12/31/25		12/31/24
		Total revenues (page 6)		$ 353,750		$ 328,442		$ 1,371,597		$ 1,285,054
		Net income attributable to Brixmor Property Group Inc. (page 6)		137,125		83,404		386,228		339,274
		Net income attributable to Brixmor Property Group Inc. per diluted share (page 6)		0.44		0.27		1.25		1.11
		NOI (page 10)		246,881		231,007		968,279		924,969
		EBITDA (page 7)		300,120		242,936		1,028,639		939,406
		EBITDAre (page 7)		240,010		218,846		925,761		872,485
		Adjusted EBITDA (page 7)		240,046		219,594		926,115		872,810
		Cash Adjusted EBITDA (page 7)		231,133		209,156		878,702		833,449
		Nareit FFO (page 8)		178,428		161,439		693,297		647,864
		Nareit FFO per diluted share (page 8)		0.58		0.53		2.25		2.13
			Items that impact FFO comparability, net per share (page 8)	(0.00)		(0.00)		(0.00)		(0.00)
		Dividends declared per share (page 8)		0.3075		0.2875		1.1700		1.1050
		Dividend payout ratio (as % of Nareit FFO) (page 8)		52.8	%	54.4	%	51.7	%	51.6	%

				Three Months Ended
	Summary Operating and Financial Ratios			12/31/25		9/30/25		6/30/25		3/31/25		12/31/24
		NOI margin (page 10)		73.6	%	74.1	%	74.3	%	74.0	%	72.9	%
		Same property NOI performance (page 11) (1)		6.0	%	4.0	%	3.8	%	2.8	%	4.7	%
		Fixed charge coverage, current quarter annualized (page 13)		4.0x		4.1x		4.2x		4.2x		4.0x
		Fixed charge coverage, trailing twelve months (page 13)		4.1x		4.1x		4.1x		4.0x		4.0x
		Net Principal Debt to Adjusted EBITDA, current quarter annualized (page 7) (2)		5.4x		5.6x		5.5x		5.5x		5.7x
		Net Principal Debt to Adjusted EBITDA, trailing twelve months (page 7) (2)		5.6x		5.7x		5.6x		5.7x		5.7x

	Outstanding Classes of Stock			As of 12/31/25		As of 9/30/25		As of 6/30/25		As of 3/31/25		As of 12/31/24
		Common shares outstanding (page 13)		306,105		306,100		306,100		306,060		305,492

				Three Months Ended
	Summary Acquisitions and Dispositions			12/31/25		9/30/25		6/30/25		3/31/25		12/31/24
		Aggregate purchase price of acquisitions (page 17)		$ 190,689		$ 223,000		$ —		$ 3,100		$ 211,835
		Aggregate sale price of dispositions (page 18)		170,191		81,197		22,350		22,750		69,300
		NOI adjustment for acquisitions and dispositions, net (3)		(346)

	Summary Portfolio Statistics (4)			As of 12/31/25		As of 9/30/25		As of 6/30/25		As of 3/31/25		As of 12/31/24
		Number of properties (page 26)		348		354		360		361		363
		Percent billed (page 26)		91.6	%	90.2	%	89.7	%	90.0	%	91.4	%
		Percent leased (page 26)		95.1	%	94.1	%	94.2	%	94.1	%	95.2	%
		ABR PSF (page 26)		$ 18.77		$ 18.48		$ 18.07		$ 17.94		$ 17.66
		New lease rent spread (page 29)		34.7	%	30.5	%	43.8	%	47.5	%	34.4	%
		New & renewal lease rent spread (page 29)		24.2	%	17.8	%	24.2	%	20.5	%	21.0	%
		Total - new, renewal & option lease rent spread (page 29)		18.6	%	12.8	%	19.4	%	15.0	%	16.1	%
		Total - new, renewal & option GLA (page 29)		2,179,975		2,638,011		2,465,322		2,247,394		2,531,648

	2026 Guidance			Current
		Nareit FFO per diluted share		$2.33 - $2.37
		Same property NOI performance		4.50% - 5.50%

(1) Reflects same property NOI as reported for the specified period.
(2) Net Principal Debt is as of the end of each specified period.
(3) Represents an estimate of the incremental NOI that the Company would have recognized if the assets that were acquired during the quarter had been owned for the full quarter, adjusted for one-time items, net of NOI recognized during the quarter for the assets that were disposed of during the quarter.
(4) Reflects portfolio statistics as reported for the specified period.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 3



>			FINANCIAL SUMMARY


			Supplemental Disclosure
			Three Months Ended December 31, 2025


CONSOLIDATED BALANCE SHEETS								↩ Table of Contents
Unaudited, dollars in thousands, except share information

				As of		As of
				12/31/25		12/31/24
	Assets
		Real estate
			Land	$	1,849,779	$	1,834,814
			Buildings and tenant improvements	9,296,849		8,895,571
			Construction in progress	92,129		152,260
			Lease intangibles	548,740		526,412
				11,787,497		11,409,057
			Accumulated depreciation and amortization	(3,588,646)		(3,410,179)
		Real estate, net		8,198,851		7,998,878
		Cash and cash equivalents		334,422		377,616
		Restricted cash		27,108		1,076
		Marketable securities		21,283		20,301
		Receivables, net, including straight-line rent receivables of $237,837 and $208,785, respectively		315,128		281,947
		Deferred charges and prepaid expenses, net		169,326		167,080
		Real estate assets held for sale		4,551		4,189
		Other assets		62,468		57,827
	Total assets			$	9,133,137	$	8,908,914

	Liabilities
		Debt obligations, net		$	5,494,753	$	5,339,751
		Accounts payable, accrued expenses and other liabilities		628,328		585,241
	Total liabilities			6,123,081		5,924,992

	Equity
		Common stock, $0.01 par value; authorized 3,000,000,000 shares;
			315,231,761 and 314,619,008 shares issued and 306,104,769 and 305,492,016
			shares outstanding	3,061		3,055
		Additional paid-in capital		3,437,853		3,431,043
		Accumulated other comprehensive income		1,722		8,218
		Distributions in excess of net income		(432,822)		(458,638)
		Total stockholders' equity		3,009,814		2,983,678
			Non-controlling interests	242		244
	Total equity			3,010,056		2,983,922
	Total liabilities and equity			$	9,133,137	$	8,908,914


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 5


CONSOLIDATED STATEMENTS OF OPERATIONS									↩ Table of Contents
Unaudited, dollars in thousands, except per share amounts

			Three Months Ended				Twelve Months Ended
			12/31/25		12/31/24		12/31/25		12/31/24
	Revenues
		Rental income	$	352,209	$	328,356	$	1,369,465	$	1,283,421
		Other revenues	1,541		86		2,132		1,633
	Total revenues		353,750		328,442		1,371,597		1,285,054

	Operating expenses
		Operating costs	44,306		42,307		162,285		152,825
		Real estate taxes	44,324		43,632		178,231		164,291
		Depreciation and amortization	102,822		103,331		414,930		381,396
		Impairment of real estate assets	4,386		—		20,461		11,143
		General and administrative	28,631		27,933		112,669		116,363
	Total operating expenses		224,469		217,203		888,576		826,018

	Other income (expense)
		Dividends and interest	3,649		4,978		7,736		20,776
		Interest expense	(59,516)		(55,441)		(224,689)		(215,994)
		Gain on sale of real estate assets	64,496		24,090		123,339		78,064
		Gain (Loss) on extinguishment of debt, net	—		—		(296)		554
		Other	(780)		(1,460)		(2,856)		(3,160)
	Total other expense		7,849		(27,833)		(96,766)		(119,760)

	Net income		137,130		83,406		386,255		339,276
	Net income attributable to non-controlling interests		(5)		(2)		(27)		(2)
	Net income attributable to Brixmor Property Group Inc.		$	137,125	$	83,404	$	386,228	$	339,274

	Net income attributable to Brixmor Property Group Inc. per common share:
		Basic	$	0.45	$	0.27	$	1.26	$	1.12
		Diluted	$	0.44	$	0.27	$	1.25	$	1.11
	Weighted average shares:
		Basic	307,232		305,042		307,181		303,130
		Diluted	307,933		306,052		307,866		304,038


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 6


EBITDA & RECONCILIATION OF DEBT OBLIGATIONS, NET TO NET PRINCIPAL DEBT									↩ Table of Contents
Unaudited, dollars in thousands

			Three Months Ended				Twelve Months Ended
			12/31/25		12/31/24		12/31/25		12/31/24

	Net income		$	137,130	$	83,406	$	386,255	$	339,276
		Interest expense	59,516		55,441		224,689		215,994
		Federal and state taxes	652		758		2,765		2,740
		Depreciation and amortization	102,822		103,331		414,930		381,396
	EBITDA		300,120		242,936		1,028,639		939,406
		Gain on sale of real estate assets	(64,496)		(24,090)		(123,339)		(78,064)
		Impairment of real estate assets	4,386		—		20,461		11,143
	EBITDAre		$	240,010	$	218,846	$	925,761	$	872,485

	EBITDAre		$	240,010	$	218,846	$	925,761	$	872,485
		(Gain) Loss on extinguishment of debt, net	—		—		296		(554)
		Transaction expenses, net	36		748		58		879

		Total adjustments	36		748		354		325
	Adjusted EBITDA		$	240,046	$	219,594	$	926,115	$	872,810

	Adjusted EBITDA		$	240,046	$	219,594	$	926,115	$	872,810
		Straight-line rental income, net	(6,324)		(7,198)		(33,444)		(30,867)
		Accretion of below-market leases, net of amortization of above-market leases and tenant inducements	(2,747)		(3,327)		(14,560)		(8,562)
		Straight-line ground rent expense, net (1)	158		87		591		68
		Total adjustments	(8,913)		(10,438)		(47,413)		(39,361)
	Cash Adjusted EBITDA		$	231,133	$	209,156	$	878,702	$	833,449

(1) Straight-line ground rent expense, net is included in Operating costs on the Consolidated Statements of Operations.

	Reconciliation of Debt Obligations, Net to Net Principal Debt
			As of
			12/31/25
	Debt obligations, net		$	5,494,753
	Less: Net unamortized premium		(10,277)
	Add: Deferred financing fees		33,977
	Less: Cash, cash equivalents and restricted cash		(361,530)
	Net Principal Debt		$	5,156,923

	Adjusted EBITDA, current quarter annualized		$	960,184
	Net Principal Debt to Adjusted EBITDA, current quarter annualized		5.4x

	Adjusted EBITDA, trailing twelve months		$	926,115
	Net Principal Debt to Adjusted EBITDA, trailing twelve months		5.6x


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 7


FUNDS FROM OPERATIONS (FFO)												↩ Table of Contents
Unaudited, dollars in thousands, except per share amounts

			Three Months Ended						Twelve Months Ended
			12/31/25			12/31/24			12/31/25			12/31/24

	Net income attributable to Brixmor Property Group Inc.		$	137,125		$	83,404		$	386,228		$	339,274
		Depreciation and amortization related to real estate	101,413			102,125			409,947			375,511
		Gain on sale of real estate assets	(64,496)			(24,090)			(123,339)			(78,064)
		Impairment of real estate assets	4,386			—			20,461			11,143
	Nareit FFO		$	178,428		$	161,439		$	693,297		$	647,864

	Nareit FFO per diluted share		$	0.58		$	0.53		$	2.25		$	2.13
	Weighted average diluted shares outstanding		307,933			306,052			307,866			304,038

	Items that impact FFO comparability
		Gain (Loss) on extinguishment of debt, net	$	—		$	—		$	(296)		$	554
		Transaction expenses, net	(36)			(748)			(58)			(879)

	Total items that impact FFO comparability		$	(36)		$	(748)		$	(354)		$	(325)
	Items that impact FFO comparability, net per share		$	(0.00)		$	(0.00)		$	(0.00)		$	(0.00)

	Additional Disclosures
		Straight-line rental income, net	$	6,324		$	7,198		$	33,444		$	30,867
		Accretion of below-market leases, net of amortization of above-market leases and tenant inducements	2,747			3,327			14,560			8,562
		Straight-line ground rent expense, net (1)	(158)			(87)			(591)			(68)

	Dividends declared per share		$	0.3075		$	0.2875		$	1.1700		$	1.1050
	Dividends declared		$	94,127		$	87,829		$	358,126		$	334,362
	Dividend payout ratio (as % of Nareit FFO)		52.8		%	54.4		%	51.7		%	51.6		%

(1) Straight-line ground rent expense, net is included in Operating costs on the Consolidated Statements of Operations.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 8


SUPPLEMENTAL BALANCE SHEET DETAIL							↩ Table of Contents
Unaudited, dollars in thousands

			As of		As of
			12/31/25		12/31/24







	Deferred charges and prepaid expenses, net
		Deferred charges, net	$	144,555	$	143,611
		Prepaid expenses, net	24,771		23,469
	Total deferred charges and prepaid expenses, net		$	169,326	$	167,080

	Other assets
		Right-of-use asset	$	44,114	$	38,784
		Furniture, fixtures and leasehold improvements, net	14,618		13,827
		Interest rate swaps	—		1,974
		Other	3,736		3,242
	Total other assets		$	62,468	$	57,827

	Accounts payable, accrued expenses and other liabilities
		Accounts payable and other accrued expenses	$	277,615	$	280,819
		Below market leases, net	144,760		120,261
		Dividends payable	97,993		91,805
		Lease liability	47,351		41,467
		Interest rate swaps	4,553		598

		Other	56,056		50,291
	Total accounts payable, accrued expenses and other liabilities		$	628,328	$	585,241


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 9


NOI & SUPPLEMENTAL STATEMENT OF OPERATIONS DETAIL												↩ Table of Contents
Unaudited, dollars in thousands

			Three Months Ended						Twelve Months Ended
			12/31/25			12/31/24			12/31/25			12/31/24
	Net Operating Income Detail
		Base rent	$	244,503		$	235,257		$	961,361		$	925,254
		Expense reimbursements	81,724			77,553			313,696			291,947
		Revenues deemed uncollectible	(3,298)			(3,941)			(11,040)			(9,579)
		Ancillary and other rental income / Other revenues	10,851			6,119			34,584			24,670
		Percentage rents	1,573			1,871			9,603			9,725
		Operating costs	(44,148)			(42,220)			(161,694)			(152,757)
		Real estate taxes	(44,324)			(43,632)			(178,231)			(164,291)
	Net operating income		$	246,881		$	231,007		$	968,279		$	924,969

	Operating Ratios
		NOI margin (NOI / revenues)	73.6		%	72.9		%	74.0		%	74.5		%
		Expense recovery ratio (expense reimbursements / (operating costs + real estate taxes))	92.4		%	90.3		%	92.3		%	92.1		%

	Reconciliation of Net Income attributable to Brixmor Property Group Inc. to Net Operating Income
	Net income attributable to Brixmor Property Group Inc.		$	137,125		$	83,404		$	386,228		$	339,274
		Lease termination fees	(9,326)			(1,058)			(15,389)			(3,608)
		Straight-line rental income, net	(6,324)			(7,198)			(33,444)			(30,867)
		Accretion of below-market leases, net of amortization of above-market leases and tenant inducements	(2,747)			(3,327)			(14,560)			(8,562)
		Straight-line ground rent expense, net (1)	158			87			591			68
		Depreciation and amortization	102,822			103,331			414,930			381,396
		Impairment of real estate assets	4,386			—			20,461			11,143
		General and administrative	28,631			27,933			112,669			116,363
		Total other expense	(7,849)			27,833			96,766			119,760
		Net income attributable to non-controlling interests	5			2			27			2
	Net operating income		$	246,881		$	231,007		$	968,279		$	924,969

	Supplemental Statement of Operations Detail
	Rental income
		Base rent	$	244,503		$	235,257		$	961,361		$	925,254
		Expense reimbursements	81,724			77,553			313,696			291,947
		Revenues deemed uncollectible	(3,298)			(3,941)			(11,040)			(9,579)
		Lease termination fees	9,326			1,058			15,389			3,608
		Straight-line rental income, net	6,324			7,198			33,444			30,867
		Accretion of below-market leases, net of amortization of above-market leases and tenant inducements	2,747			3,327			14,560			8,562
		Ancillary and other rental income	9,310			6,033			32,452			23,037
		Percentage rents	1,573			1,871			9,603			9,725
		Total rental income	$	352,209		$	328,356		$	1,369,465		$	1,283,421

	Other revenues		$	1,541		$	86		$	2,132		$	1,633

	Interest expense
		Note interest	$	52,471		$	48,508		$	194,910		$	190,682
		Unsecured credit facility and term loan interest	6,568			6,957			29,101			25,002
		Capitalized interest	(841)			(1,094)			(4,055)			(3,981)
		Deferred financing cost amortization	1,982			1,771			7,454			7,140
		Debt premium and discount accretion, net	(664)			(701)			(2,721)			(2,849)
		Total interest expense	$	59,516		$	55,441		$	224,689		$	215,994

	Other
		Federal and state taxes	$	652		$	758		$	2,765		$	2,740
		Other	128			702			91			420
		Total other	$	780		$	1,460		$	2,856		$	3,160

	Additional Disclosures
	Capitalized construction compensation costs		$	4,038		$	4,516		$	16,326		$	18,925
	Capitalized real estate taxes, insurance, and utilities		868			604			3,083			3,018
	Capitalized leasing legal costs (2)		956			680			2,171			3,184
	Capitalized leasing commission costs		1,777			1,538			7,535			7,581
	Equity compensation expense, net		4,622			4,082			17,616			17,937

(1) Straight-line ground rent expense, net is included in Operating costs on the Consolidated Statements of Operations.
(2) Capitalized leasing legal costs represent incremental direct costs associated with the execution of a lease.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 10


SAME PROPERTY NOI ANALYSIS														↩ Table of Contents
Unaudited, dollars in thousands

			Three Months Ended								Twelve Months Ended
			12/31/25			12/31/24			Change		12/31/25			12/31/24			Change
	Same Property NOI Analysis
	Number of properties		337			337			—		332			332			—
	Percent billed		91.7		%	91.6		%	0.1	%	91.7		%	91.5		%	0.2	%
	Percent leased		95.3		%	95.6		%	(0.3)	%	95.3		%	95.6		%	(0.3)	%

	Revenues
		Base rent	$	232,386		$	224,505				$	903,042		$	871,807
		Expense reimbursements	76,988			74,212					292,077			275,598
		Revenues deemed uncollectible	(3,591)			(3,378)					(10,987)			(8,655)
		Ancillary and other rental income / Other revenues	10,270			5,717					32,323			23,146
		Percentage rents	1,411			1,867					8,978			9,534
			317,464			302,923			4.8	%	1,225,433			1,171,430			4.6	%
	Operating expenses
		Operating costs	(40,810)			(39,837)					(149,004)			(142,965)
		Real estate taxes	(42,024)			(41,686)					(166,157)			(154,932)
			(82,834)			(81,523)			1.6	%	(315,161)			(297,897)			5.8	%
	Same property NOI		$	234,630		$	221,400		6.0	%	$	910,272		$	873,533		4.2	%

	NOI margin		73.9		%	73.1		%			74.3		%	74.6		%
	Expense recovery ratio		92.9		%	91.0		%			92.7		%	92.5		%

	Percent Contribution to Same Property NOI Performance:
			Change			Percent Contribution					Change			Percent Contribution
		Base rent	$	7,881		3.6		%			$	31,235		3.6		%
		Revenues deemed uncollectible	(213)			(0.1)		%			(2,332)			(0.3)		%
		Net expense reimbursements	1,465			0.7		%			(785)			(0.1)		%
		Ancillary and other rental income / Other revenues	4,553			2.0		%			9,177			1.1		%
		Percentage rents	(456)			(0.2)		%			(556)			(0.1)		%
						6.0		%						4.2		%

	Reconciliation of Net income attributable to Brixmor Property Group Inc. to Same Property NOI
	Net income attributable to Brixmor Property Group Inc.		$	137,125		$	83,404				$	386,228		$	339,274
	Adjustments:
		Non-same property NOI	(12,251)			(9,607)					(58,007)			(51,436)
		Lease termination fees	(9,326)			(1,058)					(15,389)			(3,608)
		Straight-line rental income, net	(6,324)			(7,198)					(33,444)			(30,867)
		Accretion of below-market leases, net of amortization of above-market leases and tenant inducements	(2,747)			(3,327)					(14,560)			(8,562)
		Straight-line ground rent expense, net	158			87					591			68
		Depreciation and amortization	102,822			103,331					414,930			381,396
		Impairment of real estate assets	4,386			—					20,461			11,143
		General and administrative	28,631			27,933					112,669			116,363
		Total other expense	(7,849)			27,833					96,766			119,760
		Net income attributable to non-controlling interests	5			2					27			2
	Same property NOI		$	234,630		$	221,400				$	910,272		$	873,533


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 11


CAPITAL EXPENDITURES									↩ Table of Contents
Unaudited, dollars in thousands

			Three Months Ended				Twelve Months Ended
			12/31/25		12/31/24		12/31/25		12/31/24
	Leasing related:
		Tenant improvements and tenant inducements	$	21,091	$	21,066	$	75,388	$	90,899
		External leasing commissions	4,659		4,449		14,576		13,746
			25,750		25,515		89,964		104,645

	Maintenance capital expenditures		17,281		17,886		38,140		49,316
	Total leasing related and maintenance capital expenditures		$	43,031	$	43,401	$	128,104	$	153,961


	Value-enhancing:
		Anchor space repositionings	$	8,594	$	12,120	$	45,557	$	41,427
		Outparcel developments	2,549		823		8,154		7,242
		Redevelopments	19,250		33,184		105,216		128,068

		Other (1)	1,750		2,616		14,149		19,294
	Total value-enhancing capital expenditures		$	32,143	$	48,743	$	173,076	$	196,031


(1) Includes, but is not limited to, minor value-enhancing projects, LED lighting upgrades, and solar projects.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 12


CAPITALIZATION, LIQUIDITY & DEBT RATIOS									↩ Table of Contents
Unaudited, dollars and shares in thousands except per share amounts

						As of			As of
						12/31/25			12/31/24
	Equity Capitalization:
		Common shares outstanding				306,105			305,492
		Common share price				$	26.22		$	27.84
	Total equity capitalization					$	8,026,073		$	8,504,897

	Debt:
		Revolving credit facility				$	—		$	—
		Term loan facility				500,000			500,000
		Unsecured notes				5,018,453			4,850,765
	Total principal debt					5,518,453			5,350,765
	Add: Net unamortized premium					10,277			14,279
	Less: Deferred financing fees					(33,977)			(25,293)
	Debt obligations, net					5,494,753			5,339,751
	Less: Cash, cash equivalents and restricted cash					(361,530)			(378,692)
	Net debt					$	5,133,223		$	4,961,059

	Total market capitalization					$	13,159,296		$	13,465,956

	Liquidity:
		Cash, cash equivalents and restricted cash				$	361,530		$	378,692
		Available under Revolving Credit Facility (1)				1,248,597			1,248,597
						$	1,610,127		$	1,627,289

	Ratios:
		Principal debt to total market capitalization				41.9		%	39.7		%
		Principal debt to total assets, before depreciation				43.4		%	43.4		%
		Unencumbered assets to unsecured debt				2.3x			2.3x
		Net Principal Debt to Adjusted EBITDA, current quarter annualized (2)				5.4x			5.7x
		Net Principal Debt to Adjusted EBITDA, trailing twelve months (2)				5.6x			5.7x

		Interest coverage, current quarter annualized (Adjusted EBITDA / interest expense)				4.0x			4.0x
		Interest coverage, trailing twelve months (Adjusted EBITDA / interest expense)				4.1x			4.0x
		Fixed charge coverage, current quarter annualized (Adjusted EBITDA / (interest expense + scheduled principal payments))				4.0x			4.0x
		Fixed charge coverage, trailing twelve months (Adjusted EBITDA / (interest expense + scheduled principal payments))				4.1x			4.0x

						As of			As of
						12/31/25			12/31/24
		Percentage of total debt: (3)
			Fixed			100.0		%	100.0		%
			Variable			—		%	—		%
		Unencumbered summary:
			Percent of properties, ABR and NOI			100.0		%	100.0		%


		Weighted average maturity (years):
			Fixed			4.5			4.3
			Variable			—			—
			Total			4.5			4.3

	Credit Ratings & Outlook: (4)

		Fitch Ratings		BBB	Stable
		Moody's Investors Service		Baa2	Stable
		S&P Global Ratings		BBB	Stable

(1) Funds available under the Revolving Credit Facility are reduced by outstanding letters of credit totaling $1.4 million.
(2) Net Principal Debt is as of the end of each specified period.
(3) Includes the impact of the Company's interest rate swap agreements.
(4) As of February 9, 2026.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 13


DEBT OBLIGATIONS						↩ Table of Contents
Unaudited, dollars in thousands

Maturity Schedule - Debt Obligations
	Year	Maturities		Weighted Average Stated Interest Rate (1)
	2026	$	607,542	4.17	%
	2027	400,000		3.90	%
	2028	357,708		2.35	%
	2029	753,203		4.14	%
	2030	1,300,000		4.31	%
	2031	500,000		2.50	%
	2032	400,000		5.20	%
	2033	400,000		4.85	%
	2034	400,000		5.50	%
	2035	400,000		5.75	%
	2036+	—		—	%
	Total Debt Obligations	$	5,518,453	4.25	%

	Net unamortized premium	10,277
	Deferred financing costs	(33,977)
	Debt Obligations, Net	$	5,494,753


Summary of Outstanding Debt Obligations

			Outstanding		Weighted Average		Maturity	Percent of
	Loan		Principal Balance		Stated Interest Rate (1)		Date	Total Indebtedness
	Fixed Rate Debt:

		Term Loan Facility (SOFR + 85 basis points) (2)(3)(4)	$	500,000	4.73	%	4/30/30	9.06	%


		Unsecured Notes
		4.13% 2026 Brixmor OP Notes	600,000		4.13	%	6/15/26	10.87	%
		7.97% 2026 Brixmor LLC Notes	694		7.97	%	8/14/26	0.01	%
		7.65% 2026 Brixmor LLC Notes	6,100		7.65	%	11/2/26	0.11	%
		7.68% 2026 Brixmor LLC Notes I	748		7.68	%	11/2/26	0.01	%
		3.90% 2027 Brixmor OP Notes	400,000		3.90	%	3/15/27	7.25	%
		6.90% 2028 Brixmor LLC Notes I	2,222		6.90	%	2/15/28	0.04	%
		6.90% 2028 Brixmor LLC Notes II	5,486		6.90	%	2/15/28	0.10	%
		2.25% 2028 Brixmor OP Notes	350,000		2.25	%	4/1/28	6.34	%
		4.13% 2029 Brixmor OP Notes	750,000		4.13	%	5/15/29	13.59	%
		7.50% 2029 Brixmor LLC Notes	3,203		7.50	%	7/30/29	0.06	%
		4.05% 2030 Brixmor OP Notes	800,000		4.05	%	7/1/30	14.50	%
		2.50% 2031 Brixmor OP Notes	500,000		2.50	%	8/16/31	9.06	%
		5.20% 2032 Brixmor OP Notes	400,000		5.20	%	4/1/32	7.25	%
		4.85% 2033 Brixmor OP Notes	400,000		4.85	%	2/15/33	7.25	%
		5.50%, 2034 Brixmor OP Notes	400,000		5.50	%	2/15/34	7.25	%
		5.75%, 2035 Brixmor OP Notes	400,000		5.75	%	2/15/35	7.25	%
		Total Fixed Rate Unsecured Notes	5,018,453		4.20	%		90.94	%

		Total Fixed Rate Debt	$	5,518,453	4.25	%		100.00	%

	Variable Rate Debt:

		Revolving Credit Facility (SOFR + 77.5 basis points) (4)	$	—	4.65	%	4/30/29	—	%


		Total Variable Rate Debt	$	—	4.65	%		—	%

		Total Debt Obligations	$	5,518,453	4.25	%		100.00	%

		Net unamortized premium	10,277
		Deferred financing costs	(33,977)
		Debt Obligations, Net	$	5,494,753

(1) Weighted average stated interest rate includes the impact of the Company's interest rate swap agreements.
(2) Effective July 26, 2024, $300.0 million of the Term Loan Facility is swapped from SOFR to a fixed, combined rate of 4.08% (plus a spread, currently 85 basis points) through July 26, 2027.
(3) Effective May 1, 2023, $200.0 million of the Term Loan Facility is swapped from SOFR to a fixed, combined rate of 3.59% (plus a spread, currently 85 basis points) through July 26, 2027.
(4) As of December 31, 2025, the Revolving Credit Facility and Term Loan Facility qualify for reductions of 7.5 basis points and 10 basis points, respectively, in the applicable credit spreads due to the achievement of a certain leverage ratio metric targets.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 14

COVENANT DISCLOSURE

↩ Table of

Contents

Unaudited, dollars in thousands

Unsecured OP Notes Covenant Disclosure

Covenants

12/31/25

I. Aggregate debt test

< 65%

44.4

Total Debt

5,494,753

Total Assets

12,362,540

II. Secured debt test (1)

< 40%

N/A

Total Secured Debt (1)

—

Total Assets

12,362,540

III. Unencumbered asset ratio

> 150%

225.0

Total Unencumbered Assets

12,362,540

Unsecured Debt

5,494,753

Prior Twelve Months

Prior Six Months, Annualized

IV. Debt service test (2)

> 1.5x

3.9x

4.0x

Consolidated EBITDA

926,115

941,824

Annual Debt Service Charge

236,103

236,494

(1) The Company had no secured debt as of December 31, 2025

(2) For the OP's 2.250% 2028 Notes, 4.050% 2030 Notes, 2.500% 2031 Notes, 5.200% 2032 Notes, 4.850% 2033 Notes, 5.500% 2034 Notes, and 5.750% 2035 Notes, the covenant calculation reference period for calculating EBITDA and Debt Service Charge is the most recent twelve months for which it reported financial results. For all other OP Notes, the reference period is the most recent six months for which it reported financial results, annualized.

For detailed descriptions of the unsecured OP notes covenant calculations and definitions of capitalized terms please refer to the Prospectus Supplement filed by the OP with the Securities and Exchange Commission on September 9, 2025 and the notes and indenture incorporated therein by reference.

Unsecured Credit Facility Covenant Disclosure

Covenants

12/31/25

I. Leverage ratio

< 60%

32.3

Total Outstanding Indebtedness

5,518,453

Balance Sheet Cash (1)

363,365

Total Asset Value

15,967,788

II. Secured leverage ratio (2)

< 40%

N/A

Total Secured Indebtedness (2)

—

Balance Sheet Cash (1)

363,365

Total Asset Value

15,967,788

III. Unsecured leverage ratio

< 60%

32.5

Total Unsecured Indebtedness

5,518,453

Unrestricted Cash (3)

336,257

Unencumbered Asset Value

15,967,788

IV. Fixed charge coverage ratio

> 1.5x

4.2x

Total Net Operating Income

997,964

Capital Expenditure Reserve

9,403

Fixed Charges

236,153

(1) Balance Sheet Cash consists of the OP's Cash and cash equivalents, Restricted cash, and certain Marketable securities.

(2) The Company had no secured indebtedness as of December 31, 2025.

(3) Unrestricted Cash consists of the OP's Cash and cash equivalents and certain Marketable securities.

For detailed descriptions of the Unsecured Credit Facility covenant calculations and definitions of capitalized terms please refer to the Fourth Amended and Restated Revolving Credit and Second Amended and Restated Term Loan Agreements, dated as of April 24, 2025 filed as Exhibits 10.1 and 10.2, respectively, to Form 10-Q, filed with the Securities and Exchange Commission on April 28, 2025.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 15



>			INVESTMENT SUMMARY


			Supplemental Disclosure
			Three Months Ended December 31, 2025


ACQUISITIONS											↩ Table of Contents
Dollars in thousands, except ABR PSF

	Property Name	CBSA	Purchase Date	Purchase Price		GLA / Acres (1)	Percent Leased (1)		ABR PSF (1)(2)		Major Tenants (1)(3)


	Three Months Ended March 31, 2025
	Land at Suffolk Plaza (4)	New York-Newark-Jersey City, NY-NJ	1/27/25	$	3,100	1.3 Acres	—	%	—		-


				$	3,100	1.3 Acres


	There were no acquisitions of shopping centers completed during the three months ended June 30, 2025.






	Three Months Ended September 30, 2025
	LaCenterra at Cinco Ranch	Houston-Pasadena-The Woodlands, TX	7/01/25	$	223,000	409,264	93.7	%	$	32.91	Trader Joe's, Alamo Drafthouse Cinema, Brown & Gay Engineers, Inc., Nike, Peloton Computer Enterprises, Regus


				$	223,000	409,264


	Three Months Ended December 31, 2025
	Land at Hanover Square (5)	Richmond, VA	11/03/25	$	1,500	1.3 Acres	—	%	$	—	-
	Broomfield Town Centre	Denver-Aurora-Centennial, CO	12/02/25	51,189		175,368	94.1	%	20.95		King Soopers (Kroger), Petco
	Chino Spectrum Towne Center	Riverside-San Bernardino-Ontario, CA	12/19/25	138,000		461,246	95.3	%	31.84		H Mart, Best Buy, BevMo, Big 5 Sporting Goods, DSW, Kohl's, Marshalls, Nordstrom Rack, Skechers, Tilly's, Ulta


				$	190,689	636,614/ 1.3 Acres

		TOTAL - TWELVE MONTHS ENDED DECEMBER 31, 2025		$	416,789	1,045,878/ 2.6 Acres

(1) Data presented is as of the quarter end subsequent to the acquisition date.
(2) ABR PSF excludes the GLA of lessee-owned leasehold improvements.
(3) Major tenants exclude non-owned major tenants.
(4) Acquired in connection with a future redevelopment project.
(5) Acquired in connection with a current outparcel development project.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 17


DISPOSITIONS											↩ Table of Contents
Dollars in thousands, except ABR PSF

	Property Name	CBSA	Sale Date	Sale Price		GLA / Acres (1)	Percent Leased (1)		ABR PSF (1)(2)		Major Tenants (1)(3)

	Three Months Ended March 31, 2025
	Rollins Crossing - Buffalo Wild Wings (4)	Chicago-Naperville-Elgin, IL-IN	1/10/25	$	2,450	10,000	100.0	%	$	18.20	Buffalo Wild Wings
	Southland Shopping Center - multi-tenant outparcel (4)	Cleveland, OH	2/6/25	850		149,891	85.1	%	4.00		Treasure Hunt
	Chalfont Village Shopping Center	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2/28/25	4,700		46,051	59.5	%	11.57		-
	Rollins Crossing	Chicago-Naperville-Elgin, IL-IN	3/25/25	14,750		110,292	90.3	%	14.46		Esporta Fitness, Harbor Freight Tools, Petco




				$	22,750	316,234

	Three Months Ended June 30, 2025
	Springfield Place - ShopRite (4)	New York-Newark-Jersey City, NY-NJ	4/7/25	$	8,350	32,209	100.0	%	$	13.85	ShopRite (Village Supermarket)
	Williamson Square - Grace Church Nashville (4)	Nashville-Davidson--Murfreesboro--Franklin, TN	4/10/25	10,000		26,602	100.0	%	6.01		Grace Church Nashville
	Roxboro Square	Durham-Chapel Hill, NC	5/6/25	4,000		29,900	89.0	%	13.01		-





				$	22,350	88,711

	Three Months Ended September 30, 2025
	Creekwood Village	Atlanta-Sandy Springs-Roswell, GA	7/8/25	$	6,685	69,778	100.0	%	$	10.20	Food Depot
	Townshire	College Station-Bryan, TX	7/15/25	12,000		136,887	80.9	%	7.96		AlphaGraphics
	Northside	Dalton, GA	7/16/25	10,500		78,922	100.0	%	12.40		America's Thrift Stores, Dollar Tree
	Maplewood Square	St. Louis, MO-IL	8/14/25	7,250		71,590	95.4	%	7.06		Schnucks
	Northgate	Houston-Pasadena-The Woodlands, TX	9/2/25	8,000		38,724	100.0	%	17.59		WSS
	Greeneville Commons	Greeneville, TN	9/4/25	26,000		224,139	98.5	%	10.63		bealls, Belk, Hobby Lobby, Marshalls, Ross Dress for Less
	Shops at Prospect	Lancaster, PA	9/19/25	10,762		63,392	91.6	%	14.05		Giant Food (Ahold Delhaize)

				$	81,197	683,432

	Three Months Ended December 31, 2025
	Venture Pointe	Atlanta-Sandy Springs-Roswell, GA	10/6/25	$	21,500	155,172	100.0	%	$	11.48	American Freight, Ollie's Bargain Outlet, Studio Movie Grill
	Harpers Station - multi-tenant outparcel (4)	Cincinnati, OH-KY-IN	12/5/25	11,191		16,030	100.0	%	43.98		-
	Land at Arborland Center (4)	Ann Arbor, MI	12/12/25	10,000		52.0 Acres	—	%	—		-
	Westchester Square	Kansas City, MO-KS	12/16/25	20,560		161,701	87.3	%	10.80		Hy-Vee
	Springdale	Mobile, AL	12/19/25	24,000		398,701	70.9	%	11.65		bealls, Burlington Stores, Crunch Fitness, David's Bridal, Five Below, Fresenius Medical Care, Marshalls, Shoe Station, Ulta, World Market
	Beltway South	Houston-Pasadena-The Woodlands, TX	12/22/25	15,050		114,099	91.5	%	36.79		Kroger
	Stone Mountain Festival	Atlanta-Sandy Springs-Roswell, GA	12/23/25	20,100		135,865	98.4	%	13.72		Advance Auto Parts, Harbor Freight Tools, NCG Cinemas
	Crossroads Centre - Pasadena	Houston-Pasadena-The Woodlands, TX	12/23/25	29,100		146,567	96.1	%	17.01		Kroger, LA Fitness
	Seacoast Shopping Center	Boston-Cambridge-Newton, MA-NH	12/29/25	5,690		89,634	49.8	%	9.52		Tractor Supply Co.
	Cascade East	Grand Rapids-Wyoming-Kentwood, MI	12/31/25	13,000		99,529	92.6	%	9.42		D&W Fresh Market (SpartanNash)
				$	170,191	1,317,298/ 52.0 Acres

		TOTAL - TWELVE MONTHS ENDED DECEMBER 31, 2025		$	296,488	2,405,675/ 52.0 Acres

(1) Data presented is as of the quarter end prior to the sale date.
(2) ABR PSF excludes the GLA of lessee-owned leasehold improvements.
(3) Major tenants exclude non-owned major tenants.
(4) Represents partial sale of property. Data presented reflects only the portion of property sold.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 18

ANCHOR SPACE REPOSITIONING SUMMARY

↩ Table of

Contents

Dollars in thousands

Property Name

CBSA

Description

IN PROCESS ANCHOR SPACE REPOSITIONINGS

New Projects Added To In Process Pipeline During The Three Months Ended December 31, 2025

Arapahoe Crossings - Project II

Denver-Aurora-Centennial, CO

Remerchandise former Kohl's with a 54K SF Hobby Lobby and additional retailers

Colonial Commons - Orange

New Haven, CT

Remerchandise former Christmas Tree Shops with a 53K SF Big Y grocer

Regency Park Shopping Center

Jacksonville, FL

Remerchandise former Party City with an 11K SF NetCost Market grocer

Vineyards at Chateau Elan

Atlanta-Sandy Springs-Roswell, GA

Remerchandise former Publix with a 23K SF Sprouts Farmers Market and a 22K SF Ross Dress for Less

Wilkes-Barre Township Marketplace

Scranton--Wilkes-Barre, PA

Remerchandise former Party City with a 16K SF NetCost Market grocer

Merchants Park

Houston-Pasadena-The Woodlands, TX

Combine multiple adjacent spaces for a 25K SF Marshalls

In Process Projects (1)

Carmen Plaza

Oxnard-Thousand Oaks-Ventura, CA

Remerchandise former 24 Hour Fitness with a 37K SF specialty grocer

Northgate Shopping Center

Deltona-Daytona Beach-Ormond Beach, FL

Remerchandise former Big Lots with a 27K SF Marshalls and additional retailers

Pine Tree Shopping Center

Portland-South Portland, ME

Remerchandise former Big Lots with a 25K SF ALDI

Sun Ray Shopping Center - Project II

Minneapolis-St. Paul-Bloomington, MN-WI

Remerchandise former TJ Maxx and adjacent small shop space with a 19K SF Burlington Stores and additional retailers

Capitol Shopping Center

Concord, NH

Rightsize existing Burlington Stores to 23K SF to accommodate the addition of a 13K SF Boot Barn, a 10K SF Five Below, and a 9K SF Ulta

Old Bridge Gateway

New York-Newark-Jersey City, NY-NJ

Remerchandise former Robert Wood Johnson Fitness with a 22K SF Ross Dress for Less and additional retailers

Roanoke Plaza

New York-Newark-Jersey City, NY-NJ

Remerchandise former TJ Maxx with a 22K SF Ross Dress for Less and a 15K SF Boot Barn

Northshore - Project II

Houston-Pasadena-The Woodlands, TX

Remerchandise and expand former Sellers Bros. with a 30K SF El Rancho (Heritage Grocers)

Number of Projects

Net Estimated Costs (2)

Gross Costs to Date

Expected NOI Yield (2)

Total In Process

63,850

25,900

7% - 14%

STABILIZED ANCHOR SPACE REPOSITIONINGS

Projects Stabilized During the Three Months Ended December 31, 2025

Northeast Plaza

Atlanta-Sandy Springs-Roswell, GA

Combine adjacent spaces for a 24K SF Burlington Stores

Arborland Center

Ann Arbor, MI

Remerchandise former Bed Bath & Beyond with a 22K SF Marshalls (relocated from within the center) and a 20K SF HomeGoods; backfill former Marshalls with a 22K SF Ross Dress for Less and an 11K SF Boot Barn

Western Hills Plaza

Cincinnati, OH-KY-IN

Remerchandise former Staples with a 20K SF Ross Dress for Less and a 7K SF Rally House

Projects Stabilized During the Nine Months Ended September 30, 2025

Gateway Plaza

Los Angeles-Long Beach-Anaheim, CA

Remerchandise former Party City with an 11K SF Five Below and a 4K SF Wells Fargo

Arapahoe Crossings - Project I

Denver-Aurora-Centennial, CO

Remerchandise former Stein Mart with a 17K SF Ace Hardware and a 13K SF Activate

Coastal Way - Coastal Landing - Project II

Tampa-St. Petersburg-Clearwater, FL

Demolish former Sears to accommodate construction of a 104K SF BJ's Wholesale Club

Rivercrest Shopping Center

Chicago-Naperville-Elgin, IL-IN

Remerchandise former Best Buy with a 55K SF Tony's Fresh Market (Heritage Grocers)

Bedford Grove

Manchester-Nashua, NH

Remerchandise former Bed Bath & Beyond with a 29K SF Planet Fitness and an additional retailer

Franklin Square

Charlotte-Concord-Gastonia, NC-SC

Rightsize existing Pep Boys to 8K SF to accommodate the addition of a 14K SF Boot Barn

Kingston Overlook

Knoxville, TN

Remerchandise former Badcock Furniture with a 24K SF Sprouts Farmers Market

Ridglea Plaza

Dallas-Fort Worth-Arlington, TX

Combine adjacent spaces for a 53K SF EōS Fitness

Number of Projects

Net Project
Costs (2)

NOI Yield (2)

Total Stabilized

48,900

(1) The project at Springdale was removed from the In Process pipeline due to sale of property during the quarter.

(2) Reflects gross project costs less any project specific credits (lease termination fees or other ancillary credits).

The in process projects listed above are actively underway and reflect projects for which leases have been signed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these projects or that

the net estimated costs or expected NOI yields will be the amounts shown. The net estimated costs and expected NOI yields are management's best estimates based on current information and may change over time. For more information, please refer to

the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 19


OUTPARCEL DEVELOPMENT SUMMARY											↩ Table of Contents
Dollars in thousands

						Stabilization	Net Estimated		Gross Costs		Expected
		Property Name		CBSA	Project Description	Quarter	Costs (1)		to Date		NOI Yield (1)
	IN PROCESS OUTPARCEL DEVELOPMENTS

		New Projects Added To In Process Pipeline During The Three Months Ended December 31, 2025
	1	Hanover Square		Richmond, VA	Construction of two multi-tenant outparcels, including a 4K SF First Watch, a 2K SF Cava with a drive-thru, a 2K SF Habit Burger, and a 2K SF Panda Express	Dec-26	$	7,400	$	2,200	9	%

		In Process Projects (2)
	2	Martin Downs Village Center (3)		Port St. Lucie, FL	Construction of a 2K SF Chipotle with a drive-thru and a 2K SF Wendy's with a drive-thru	Jun-26	3,100		1,400		10	%
	3	Crown Point		Columbus, OH	Construction of a 0.3K SF Biggby Coffee with a drive-thru	Jun-26	150		—		38	%
	4	Venice Village		North Port-Bradenton-Sarasota, FL	Construction of a 2K SF Chipotle with a drive-thru	Sep-26	1,950		950		9	%
	5	Pacoima Center		Los Angeles-Long Beach-Anaheim, CA	Construction of a 3K SF Starbucks with a drive-thru	Dec-26	950		500		28	%
	6	Laurel Square		New York-Newark-Jersey City, NY-NJ	Construction of a 5K SF multi-tenant outparcel, including a 3K SF Chipotle with a drive-thru and a 2K SF Quickway Japanese Hibachi; and construction of a 3K SF Starbucks with a drive-thru	Dec-26	3,200		1,800		15	%
		TOTAL IN PROCESS OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE					$	16,750	$	6,850	12	%

						Stabilization			Net Project
		Property Name		CBSA	Project Description	Quarter			Costs (1,4)		NOI Yield (1,4)
	STABILIZED OUTPARCEL DEVELOPMENTS

		Projects Stabilized During the Three Months Ended December 31, 2025
	1	Coconut Creek Plaza		Miami-Fort Lauderdale-West Palm Beach, FL	Demolition of former outparcel and construction of a 2K SF Fifth Third Bank	Dec-25			$	150	113	%
	2	Whitehall Square		Allentown-Bethlehem-Easton, PA-NJ	Construction of a 6K SF Mister Car Wash	Dec-25			200		98	%
	3	Collegeville Shopping Center - Project II		Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	Construction of a 1K SF 7 Brew with a drive-thru	Dec-25			100		86	%

		Projects Stabilized During the Nine Months Ended September 30, 2025
	4	Collegeville Shopping Center - Project I	1	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	Demolition of former outparcel and construction of a 2K SF Chase Bank	Sep-25			150		76	%
	5	Paradise Pavilion		Milwaukee-Waukesha, WI	Construction of a 1K SF 7 Brew with a drive-thru	Sep-25			750		9	%
	6	Redford Plaza		Detroit-Warren-Dearborn, MI	Construction of a 4K SF Clean Express Auto Wash	Jun-25			350		26	%
	7	Panama City Square	1	Panama City-Panama City Beach, FL	Construction of a 6K SF LongHorn Steakhouse	Mar-25			1,600		9	%
	8	Mansell Crossing	1	Atlanta-Sandy Springs-Roswell, GA	Construction of an 11K SF Cooper’s Hawk Winery & Restaurant	Mar-25			5,000		10	%

		TOTAL STABILIZED OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE							$	8,300	16	%

(1) Reflects gross project costs less any project specific credits (lease termination fees or other ancillary credits).
(2) The project at Beltway South was removed from the In Process pipeline due to sale of property during the quarter.
(3) Net project costs exclude $0.2M of project specific credits (lease termination fees or other ancillary credits).
(4) Net project costs and NOI yields may vary from those previously disclosed due to final project reconciliations.

The in process projects listed above are actively underway and reflect projects for which leases have been signed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these projects, that the
net estimated costs or expected NOI yields will be the amounts shown, or that stabilization will occur as anticipated. The net estimated costs, expected NOI yields, and anticipated stabilization dates are management's best estimates based on current
information and may change over time. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 20


REDEVELOPMENT SUMMARY									↩ Table of Contents
Dollars in thousands

							Net		Gross		Expected
					Property	Stabilization	Estimated		Costs		NOI
		Property Name	CBSA	Project Description	Acreage	Quarter	Costs (1)		to Date		Yield (1)
	New Projects Added To In Process Pipeline During The Three Months Ended December 31, 2025
	1	Rockland Plaza	New York-Newark-Jersey City, NY-NJ	Extensive reconfiguration of center including redevelopment of former Barnes & Noble and Petco with a 25K SF Nordstrom Rack, a 5K SF Ann Taylor Factory Store, a 4K SF Motion PT, and additional retailers; redevelopment and rightsize of former Modells Sporting Goods and Marshalls to accommodate a 30K SF Ross Dress for Less, a 29K SF Burlington Stores, a 2K SF Honeygrow, a 2K SF Naya, and additional retailers; remerchandise several small shop spaces including the addition of a 3K SF Quickway Hibachi; construction of a 5K SF outparcel; and shopping center upgrades including comprehensive façade renovations, new landscaping, site lighting and signage, and structural upgrades	27	Mar-28	$	29,450	$	2,550	12	%

	IN PROCESS REDEVELOPMENTS
	2	Wynnewood Village - Phase IV (2)	Dallas-Fort Worth-Arlington, TX	Ground-up construction of a 111K SF Target; remerchandise of existing anchor space with a 26K SF Burlington Stores; and shopping center upgrades including façade renovations, landscaping enhancements, signage upgrades, and parking lot improvements	65	Mar-26	32,650		22,400		9	%
	3	Westridge Court / Block 59 - Phase I	Chicago-Naperville-Elgin, IL-IN	Redevelopment, reconfiguration, and rebranding of center, including the demolition of an underutilized two-story building, to accommodate the addition of a vibrant restaurant and entertainment district with an event plaza surrounded by several single-tenant buildings and outparcels including a 9K SF The Cheesecake Factory, an 8K SF Yard House, an 8K SF Ruth's Chris Steak House, a 3K SF Shake Shack, and a 2K SF Stan's Donuts; construction of additional multi-tenant outparcels including a 7K SF Piccolo Buco and a 4K SF First Watch and a 3K SF Velvet Taco, a 2K SF Crisp & Green, and a 2K SF Fresh Fin; and shopping center upgrades including new landscaping, signage, lighting, and improved vehicular and pedestrian circulation and connectivity	82	Jun-26	40,600		35,600		9	%
	4	Hillcrest Market Place	Spartanburg, SC	Redevelopment and reconfiguration of adjacent small shop space to accommodate addition of a 6K SF J.Crew, a 5K SF Hallmark, and additional retailers surrounding a newly constructed outdoor community courtyard; and shopping center upgrades including façade, landscaping, and common area enhancements	38	Jun-26	5,000		2,850		10	%
	5	Preston Park Village (3)	Dallas-Fort Worth-Arlington, TX	Redevelopment of former Kroger with a 24K SF HomeGoods and a 13K SF Petco; construction of a 3K SF outparcel; and shopping center upgrades including expansion and upgrade of existing outdoor dining patios, façade renovations, parking reconfiguration, and landscaping and signage enhancements	26	Sep-26	35,600		29,050		8	%
	6	Tinley Park Plaza (4)	Chicago-Naperville-Elgin, IL-IN	Redevelopment of former Walt's and adjacent space with a 22K SF Ross Dress for Less, a 9K SF Five Below, and additional retailers; construction of a 5K SF Fifth Third Bank outparcel; and shopping center upgrades including façade and roof renovations	22	Dec-26	11,550		11,350		13	%
	7	Dalewood I, II & III Shopping Center	New York-Newark-Jersey City, NY-NJ	Redevelopment of former Christmas Tree Shops with a 21K SF Sprouts Farmers Market and an additional retailer; remerchandise 19K SF of retail space with restaurants; and shopping center upgrades including façade renovations and parking lot reconfiguration	6	Mar-27	10,750		3,250		7	%
	8	Barn Plaza - Phase II	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	Demolition of 49K SF former freestanding theater to accommodate construction of three multi-tenant outparcel buildings totaling 46K SF, including a 13K SF Pottery Barn, a 6K SF Burton's Grill & Bar, a 6K SF Williams Sonoma, a 5K SF Sephora, a 3K SF Shake Shack, a 2K SF Just Salad, a 2K SF Naya, and a 2K SF Starbucks with a drive-thru; and shopping center upgrades including new storm water management, lighting, landscaping, and signage, and improved vehicular and pedestrian connectivity	42	Jun-27	24,500		2,550		11	%
	9	Wynnewood Village - Phase V	Dallas-Fort Worth-Arlington, TX	Redevelopment of vacant outparcel pads, including the construction of a multi-tenant outparcel building for a 3K SF Cava and a 2K SF Chipotle, construction of a 3K SF Chase outparcel, and the construction of a 6K SF restaurant outparcel; reconfiguration of inline retail space to accommodate a 24K SF junior anchor and additional retailers; and shopping center upgrades including façade renovations, landscaping enhancements, and parking lot improvements	65	Jun-27	15,200		800		9	%
	10	Sunrise Town Center	Miami-Fort Lauderdale-West Palm Beach, FL	Demolition of 52K SF former fitness center to accommodate construction of a 47K SF Publix; reconfigure and remerchandise several small shop spaces; and shopping center upgrades including façade renovations and parking lot improvements	17	Sep-27	12,050		550		14	%
	11	Pointe Orlando - Phase III	Orlando-Kissimmee-Sanford, FL	Remerchandise with relevant retailers including a two-story 18K SF Museum of Ice Cream and an additional retailer; and shopping center upgrades to align with previous phase improvements including façade, landscaping and lighting and common area enhancements including public seating areas and improved pedestrian plazas	17	Dec-27	12,500		2,950		23	%
	12	Circle Center	Hilton Head Island-Bluffton-Port Royal, SC	Demolition of 45K SF former BI-LO to accommodate construction of a 48K SF Publix; reconfigure and remerchandise several small shop spaces; and pedestrian improvements, including sidewalk access to new municipal park	7	Dec-27	9,550		450		7	%
	13	Westridge Court / Block 59 - Phase II	Chicago-Naperville-Elgin, IL-IN	Construction of two multi-tenant buildings totaling 22K SF surrounding the newly redeveloped restaurant, entertainment, and event district; and shopping center upgrades to align with previous phase improvements including new landscaping, signage, lighting, and improved vehicular and pedestrian circulation and connectivity	82	Jun-28	16,350		5,900		9	%
		TOTAL IN PROCESS REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE					$	255,750	$	120,250	10	%


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 21


REDEVELOPMENT SUMMARY									↩ Table of Contents
Dollars in thousands

							Property	Stabilization	Net Project		NOI
		Property Name		CBSA	Project Description		Acreage	Quarter	Costs (1,5)		Yield (1,5)
	STABILIZED REDEVELOPMENTS
		Projects Stabilized During The Three Months Ended December 31, 2025
	1	The Davis Collection		Sacramento-Roseville-Folsom, CA	Extensive redevelopment, reconfiguration, and rebranding of center including demolition of 92K SF to accommodate construction of a 25K SF Nordstrom Rack, a 17K SF PetSmart, a 10K SF Ulta, and approximately 20K SF of additional retail surrounding an outdoor community courtyard; construction of two multi-tenant outparcel buildings including a 4K SF Urban Plates, a 3K SF The Melt, a 2K SF Mendocino Farms, and additional retailers; and shopping center upgrades including construction of pedestrian plazas and walkways, new landscaping and signage, and parking enhancements		8	Dec-25	$	47,750	8	%
	2	Pointe Orlando - Phase II	1	Orlando-Kissimmee-Sanford, FL	Remerchandise with relevant retailers including a 10K SF Activate and a 10K SF Dick's Last Resort; rebranding and reconfiguration of first level to match Phase I improvements including a third vehicular connection to International Drive; and extensive shopping center upgrades including façade, landscaping and lighting upgrades and common area enhancements including public seating areas and improved pedestrian plazas	1	17	Dec-25	23,600		10	%
	3	Burlington Square I, II & III (6)	1	Boston-Cambridge-Newton, MA-NH	Redevelopment and reconfiguration of center to accommodate new retailers including a 5K SF Tatte Bakery & Cafe, a 4K SF Life Alive Organic Cafe, and a 2K SF YogaSix; and shopping center upgrades including façade and sidewalk renovations, new landscaping and stormwater improvements, and common area enhancements	1	7	Dec-25	9,250		12	%
		Projects Stabilized During The Nine Months Ended September 30, 2025
	4	Puente Hills Town Center		Los Angeles-Long Beach-Anaheim, CA	Redevelopment and expansion of several in-line retail spaces to accommodate a 20K SF ALDI; remerchandise existing adjacent small shop space including a 9K SF Five Below, an 8K SF Skechers, and a 5K SF Bath and Body Works; and shopping center upgrades including parking and sidewalk improvements		11	Sep-25	4,750		8	%
	5	College Plaza		New York-Newark-Jersey City, NY-NJ	Redevelopment of former Bob's Stores and adjacent retail space with a 21K SF Burlington Stores; remerchandise former Blink Fitness with a 10K SF Five Below and an 8K SF Ulta; construction of outparcels including a 5K SF Chick-fil-A and a 4K SF Aspen Dental; and shopping center upgrades including façade and sidewalk renovations		25	Sep-25	12,900		10	%
	6	Barn Plaza - Phase I		Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	Remerchandise former anchor space with a 44K SF Whole Foods Market (Amazon) and an 11K SF Barnes & Noble; demolition of 5K SF to accommodate construction of a 7K SF multi-tenant outparcel including a 4K SF First Watch, a 2K SF Chipotle, and a 1K SF The Juice Pod; and shopping center upgrades including façade renovations and common area enhancements		42	Sep-25	14,550		9	%
	7	Jones Plaza		Houston-Pasadena-The Woodlands, TX	Relocation and expansion of existing Aaron's to 14K SF to accommodate a 15K SF La Michoacana Supermarket; and shopping center upgrades including façade renovations		9	Sep-25	2,050		15	%
	8	WaterTower Plaza		Worcester, MA	Redevelopment of former Shaw's with a 46K SF grocer; reconfigure and remerchandise adjacent small shop space including an 11K SF Five Below and a 9K SF Ulta; and shopping center upgrades including the addition of patio areas, façade renovations, and parking enhancements		27	Jun-25	11,200		10	%

		TOTAL STABILIZED REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE							$	126,050	9	%

(1) Reflects gross project costs less any project specific credits (lease termination fees or other ancillary credits).
(2) Net project costs exclude $3.4M of project specific credits (lease termination fees or other ancillary credits).
(3) Net project costs exclude $0.2M of project specific credits (lease termination fees or other ancillary credits).
(4) Net project costs exclude $2.5M of project specific credits (lease termination fees or other ancillary credits).
(5) Net project costs and NOI yields may vary from those previously disclosed due to final project reconciliations.
(6) Net project costs exclude $0.2M of project specific credits (lease termination fees or other ancillary credits).


The in process projects listed above are actively underway and reflect projects for which leases have been signed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these projects, that the
net estimated costs or expected NOI yields will be the amounts shown, or that stabilization will occur as anticipated. The net estimated costs, expected NOI yields, and anticipated stabilization dates are management's best estimates based on current
information and may change over time. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 22

FUTURE REDEVELOPMENT OPPORTUNITIES

↩ Table of

Contents

Property Name

CBSA

Project Description

MAJOR REDEVELOPMENTS

Village at Mira Mesa

San Diego-Chula Vista-Carlsbad, CA

Redevelopment of existing anchor space for potential residential rental component

Metro 580

San Francisco-Oakland-Fremont, CA

Redevelopment of existing anchor space for multiple retailers

Venetian Isle Shopping Ctr

Miami-Fort Lauderdale-West Palm Beach, FL

Redevelopment of existing anchor space for new anchor prototype, potential outparcel development

Britton Plaza

Tampa-St. Petersburg-Clearwater, FL

Extensive repositioning and reconfiguration, densification of site

Dolphin Village

Tampa-St. Petersburg-Clearwater, FL

Redevelopment and reposition of existing center with new anchor prototype

Kings Market

Atlanta-Sandy Springs-Roswell, GA

Redevelopment and repositioning of shopping center, densification of site

Kings Park Plaza

New York-Newark-Jersey City, NY-NJ

Redevelopment of shopping center to leverage proximity to area transit, remerchandise with multiple retailers, potential multi-family component

Morris Hills Shopping Center

New York-Newark-Jersey City, NY-NJ

Densification of site, including multi-tenant outparcel development, potential multi-family component

Three Village Shopping Center

New York-Newark-Jersey City, NY-NJ

Extensive repositioning and reconfiguration, densification of site

Roosevelt Mall - Future Phases

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

Extensive repositioning and reconfiguration, densification of site

Market Plaza

Dallas-Fort Worth-Arlington, TX

Extensive redevelopment and repositioning of shopping center, remerchandise with potential medical office component

Wynnewood Village - Future Phases

Dallas-Fort Worth-Arlington, TX

Redevelopment and repositioning of shopping center, densification of site

MINOR REDEVELOPMENTS

Brea Gateway

Los Angeles-Long Beach-Anaheim, CA

Reposition of former anchor which may include site densification with addition of outparcel pad development

The Plaza at Buckland Hills

Hartford-West Hartford-East Hartford, CT

Redevelopment and repositioning of shopping center, densification of site

Colonial Commons - Orange

New Haven, CT

Redevelopment and repositioning of shopping center

East Port Plaza

Port St. Lucie, FL

Redevelopment and repositioning of shopping center

Rutland Plaza

Tampa-St. Petersburg-Clearwater, FL

Redevelopment and repositioning of shopping center

Tyrone Gardens

Tampa-St. Petersburg-Clearwater, FL

Redevelopment and repositioning of shopping center

Northeast Plaza - Future Phases

Atlanta-Sandy Springs-Roswell, GA

Redevelopment of existing anchor space for multiple retailers, densification of site

High Point Centre

Chicago-Naperville-Elgin, IL-IN

Redevelopment and repositioning of shopping center

North Riverside Plaza

Chicago-Naperville-Elgin, IL-IN

Redevelopment and reposition of rear portion of shopping center

Ridge Plaza

Chicago-Naperville-Elgin, IL-IN

Redevelopment and repositioning of shopping center

Meridian Village

Indianapolis-Carmel-Greenwood, IN

Redevelopment and repositioning of shopping center

Burlington Square I, II & III - Future Phases

Boston-Cambridge-Newton, MA-NH

Redevelopment and repositioning of shopping center

Burning Tree Plaza

Duluth, MN-WI

Redevelopment of existing anchor space for multiple retailers

Richfield Hub

Minneapolis-St. Paul-Bloomington, MN-WI

Redevelopment and repositioning of shopping center, densification of site

Sun Ray Shopping Center - Future Phases

Minneapolis-St. Paul-Bloomington, MN-WI

Redevelopment and repositioning of shopping center

Wallkill Plaza

Kiryas Joel-Poughkeepsie-Newburgh, NY

Redevelopment of existing anchor spaces, remerchandise shop space and façade renovation

Suffolk Plaza

New York-Newark-Jersey City, NY-NJ

Densification of site, including multi-tenant outparcel development

Tinton Falls Plaza

New York-Newark-Jersey City, NY-NJ

Redevelopment and repositioning of shopping center

West Center

New York-Newark-Jersey City, NY-NJ

Redevelopment and repositioning of shopping center, densification of site

North Ridge Shopping Center

Raleigh-Cary, NC

Redevelopment of existing anchor space for multiple retailers, densification of site

Parkway Plaza

Winston-Salem, NC

Reposition of former anchors which may include site densification with addition of outparcel pad development

South Towne Centre

Dayton-Kettering-Beavercreek, OH

Redevelopment of existing anchor space for multiple retailers

69th Street Plaza

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

Redevelopment of existing anchor space for multiple retailers, densification of site

Bristol Park

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

Redevelopment of existing anchor space, inline shop space and façade renovation

Warminster Towne Center

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

Redevelopment and repositioning of shopping center, densification of site

Parmer Crossing

Austin-Round Rock-San Marcos, TX

Redevelopment of existing anchor space for multiple retailers, densification of site


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 23

FUTURE REDEVELOPMENT OPPORTUNITIES

↩ Table of

Contents

Property Name

CBSA

Project Description

Arboretum Village

Dallas-Fort Worth-Arlington, TX

Densification of site, including multi-tenant outparcel development

Preston Park Village - Future Phases

Dallas-Fort Worth-Arlington, TX

Redevelopment and repositioning of shopping center

Stevens Park Village

Dallas-Fort Worth-Arlington, TX

Redevelopment and repositioning of shopping center

Webb Royal Plaza

Dallas-Fort Worth-Arlington, TX

Redevelopment of existing anchor space for multiple retailers, densification of site

Clear Lake Camino South

Houston-Pasadena-The Woodlands, TX

Redevelopment of existing anchor space for multiple retailers, densification of site

Lake Pointe Village

Houston-Pasadena-The Woodlands, TX

Reposition of existing vacant space and site densification

The Company has identified potential future reinvestment opportunities at the properties listed above. Many of these opportunities are, or will soon be, in preliminary planning phases and as such, may not ultimately become active reinvestments. Proceeding

with these reinvestments could be subject to factors outside of the Company’s control which could delay, suspend, or defer the expected opportunity or timing of execution. While the Company believes that these projects are likely to become active in the

near-term, it should be noted that this list will fluctuate as projects become active, or are suspended or otherwise rescheduled. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended

December 31, 2025.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 24



>			PORTFOLIO SUMMARY


			Supplemental Disclosure
			Three Months Ended December 31, 2025


PORTFOLIO OVERVIEW															↩ Table of Contents
Dollars in thousands, except per square foot amounts

				As of:
				12/31/25		9/30/25		6/30/25		3/31/25		12/31/24

	Number of properties			348		354		360		361		363
	GLA			62,684,741		63,368,510		63,621,719		63,687,360		64,016,521
	Percent billed			91.6%		90.2%		89.7%		90.0%		91.4%
	Percent leased			95.1%		94.1%		94.2%		94.1%		95.2%
		TOTAL ≥ 10,000 SF		96.6%		95.4%		95.6%		95.7%		97.2%
		TOTAL < 10,000 SF		92.2%		91.4%		91.2%		90.8%		91.1%
	ABR			$	1,049,958	$	1,034,848	$	1,017,857	$	1,008,053	$	1,010,148
	ABR PSF			$	18.77	$	18.48	$	18.07	$	17.94	$	17.66

	PORTFOLIO BY UNIT SIZE AS OF 12/31/25
			Number of Units	GLA		Percent of GLA		Percent Billed		Percent Leased		ABR		Percent of ABR	ABR PSF
		≥ 35,000 SF	374	21,310,677		34.0%		95.7%		97.6%		$	217,205	20.7%	$	11.98
		20,000 - 34,999 SF	476	12,389,437		19.8%		90.8%		96.1%		156,909		14.9%	13.28
		10,000 - 19,999 SF	623	8,526,181		13.6%		90.9%		94.7%		135,944		13.0%	17.27
		5,000 - 9,999 SF	1,087	7,502,918		12.0%		87.8%		92.6%		156,904		14.9%	23.64
		< 5,000 SF	5,992	12,955,528		20.6%		88.4%		91.9%		382,996		36.5%	33.35
		TOTAL	8,552	62,684,741		100.0%		91.6%		95.1%		$	1,049,958	100.0%	$	18.77

		TOTAL ≥ 10,000 SF	1,473	42,226,295		67.4%		93.3%		96.6%		$	510,058	48.6%	$	13.49
		TOTAL < 10,000 SF	7,079	20,458,446		32.6%		88.2%		92.2%		539,900		51.4%	29.79


Reflects portfolio statistics as reported for the specified period.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 26

PORTFOLIO COMPOSITION

Dollars in thousands


NATIONAL / REGIONAL AND LOCAL TENANTS

	Percent of Portfolio Leased GLA	Percent of Portfolio ABR


ANCHOR AND SMALL SHOP TENANTS

	Percent of Portfolio Leased GLA	Percent of Portfolio ABR


									↩ Table of Contents



Merchandise Mix	ABR		Percent of ABR

Restaurants	$	188,361	18	%
Grocery	145,260		14	%
Personal services	84,986		8	%
Off-price apparel	71,761		7	%
Fitness / sports	64,041		6	%
Medical	58,461		6	%
Value apparel, shoes, accessories	56,809		5	%
General merchandise (department, gift, etc.)	46,329		4	%
Home décor	42,645		4	%
Health & beauty	35,455		3	%
Entertainment	30,121		3	%
Pet	27,983		3	%
Financial services	27,597		3	%
General merchandise (discount / dollar)	24,254		2	%
Hobby & crafts	23,766		2	%
Electronics & appliance	23,636		2	%
Home improvement	17,975		2	%
Sporting goods	17,236		2	%
Other (1)	63,282		6	%

TOTAL	$	1,049,958	100	%

(1) Other represents categories with percent of ABR of 1% or less including auto, liquor, mail / shipping and other services, office supply, party, pharmacy, and professional services.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 27


TOP FORTY RETAILERS RANKED BY ABR														↩ Table of Contents
Dollars in thousands, except per square foot amounts
			Retailer	Owned Leases (1)	Leased GLA (1)	Percent of GLA (1)		ABR (1)		Percent of ABR (1)		ABR PSF (1)
		1	The TJX Companies, Inc. (2)	90	2,564,676	4.1	%	$	33,673	3.2	%	$	13.13
		2	The Kroger Co. (3)	44	3,000,900	4.8	%	24,006		2.3	%	8.00
		3	Burlington Stores, Inc.	46	1,725,367	2.8	%	21,564		2.1	%	12.50
		4	Publix Super Markets, Inc.	34	1,587,457	2.5	%	16,748		1.6	%	10.55
		5	Ross Stores, Inc (4)	50	1,246,499	2.0	%	16,422		1.6	%	13.17
		6	Dollar Tree Stores, Inc.	108	1,253,821	2.0	%	15,868		1.5	%	12.66
		7	Five Below, Inc.	66	631,887	1.0	%	12,962		1.2	%	20.51
		8	Amazon.com, Inc. / Whole Foods Market Services, Inc.	19	658,464	1.1	%	12,371		1.2	%	18.79
		9	L.A Fitness International, LLC (5)	13	528,162	0.8	%	10,566		1.0	%	20.01
		10	Ulta Beauty, Inc.	39	423,324	0.7	%	10,509		1.0	%	24.82

				509	13,620,557	21.8	%	174,689		16.7	%	12.83

		11	PetSmart, Inc.	28	609,077	1.0	%	10,462		1.0	%	17.18
		12	Albertson's Companies, Inc (6)	14	749,018	1.2	%	9,875		0.9	%	13.18
		13	PETCO Animal Supplies, Inc.	34	477,934	0.8	%	8,605		0.8	%	18.00
		14	Ahold Delhaize (7)	13	736,178	1.2	%	8,492		0.8	%	11.54
		15	Kohl's Corporation	13	963,606	1.5	%	7,405		0.7	%	7.68
		16	The Michaels Companies, Inc.	24	544,061	0.9	%	7,298		0.7	%	13.41
		17	Barnes & Noble, Inc. (8)	18	352,382	0.6	%	6,115		0.6	%	17.35
		18	Sprouts Farmers Market, Inc.	9	245,212	0.4	%	6,076		0.6	%	24.78
		19	Best Buy Co., Inc.	12	434,051	0.7	%	5,979		0.6	%	13.77
		20	DICK's Sporting Goods, Inc. (9)	17	369,005	0.6	%	5,912		0.6	%	16.02

				691	19,101,081	30.7	%	250,908		24.0	%	13.14

		21	CVS Health	14	218,744	0.3	%	5,095		0.5	%	23.29
		22	JP Morgan Chase & Co.	24	90,532	0.1	%	5,045		0.5	%	55.73
		23	Bath & Body Works, Inc.	45	205,056	0.3	%	4,968		0.5	%	24.23
		24	Gap, Inc. (10)	15	237,319	0.4	%	4,851		0.5	%	20.44
		25	Chipotle Mexican Grill, Inc.	36	89,649	0.1	%	4,691		0.4	%	52.33
		26	Trader Joe's Company, Inc.	13	171,594	0.3	%	4,676		0.4	%	27.25
		27	ALDI (11)	17	474,794	0.8	%	4,643		0.4	%	9.78
		28	Harbor Freight Tools	21	371,512	0.6	%	4,636		0.4	%	12.48
		29	National Vision, Inc. (12)	41	147,885	0.2	%	4,362		0.4	%	29.50
		30	Hobby Lobby Stores, Inc.	10	564,887	0.9	%	4,320		0.4	%	7.65
		31	JD Sports Fashion Plc (13)	31	196,564	0.3	%	4,143		0.4	%	21.08
		32	Starbucks Corporation	38	72,993	0.1	%	4,089		0.4	%	56.02
		33	Designer Brands, Inc. (DSW)	13	249,833	0.4	%	4,061		0.4	%	16.25
		34	Wells Fargo & Company	17	73,304	0.1	%	4,041		0.4	%	55.13
		35	Staples, Inc.	15	302,603	0.5	%	3,995		0.4	%	13.20
		36	Skechers U.S.A., Inc.	22	207,583	0.3	%	3,917		0.4	%	18.87
		37	AMC Entertainment	4	200,955	0.3	%	3,863		0.4	%	19.22
		38	Bank of America, NA	23	79,151	0.1	%	3,618		0.3	%	45.71
		39	Wakefern Food Corporation (14)	4	230,254	0.4	%	3,500		0.3	%	15.20
		40	Nordstrom, Inc. (15)	7	174,094	0.3	%	3,452		0.3	%	19.83

			TOTAL TOP 40 RETAILERS	1,101	23,460,387	37.5	%	$	336,874	32.1	%	$	14.36

	(1) Includes only locations which are owned or guaranteed by the parent company. Excludes			(6) Includes Tom Thumb-3, Vons-3, Acme-2, Jewel-Osco-2, Albertsons-1, El Rancho (sublease)-1,						(11) Includes ALDI-15 and Winn-Dixie-2 (expected banner conversion).
	all franchise locations.			Shop & Save Market-1, and Star Market-1.						(12) Includes America's Best Contacts & Eyeglasses-39 and Eyeglass World-2.
	(2) Includes T.J. Maxx-29, Marshalls-27, HomeGoods-20, Sierra Trading Post-6,			(7) Includes Giant Food-5, Super Stop & Shop-4, Food Lion-2, ShopRite (sublease)-1, and						(13) Includes Hibbett-17, JD Sports-6, DTLR-6, and Shoe Palace-2.
	Marshalls/HomeGoods-4, HomeSense-2, and T.J. Maxx/HomeGoods-2.			non-grocer (sublease)-1.						(14) Includes ShopRite-3 and Price Rite Marketplace-1.
	(3) Includes Kroger-30, King Soopers-5, Ralphs-3, Harris Teeter-2, Dillons-1, Food 4 Less-1,			(8) Includes Barnes & Noble-16 and Paper Source-2.						(15) Includes Nordstrom Rack-7.
	Pay Less-1, and Pick 'N Save-1.			(9) Includes Foot Locker-5, Golf Galaxy-4, DICK'S Sporting Goods Warehouse Sale-3,
	(4) Includes Ross Dress for Less-45 and dd's Discounts-5.			DICK'S Sporting Goods-2, WSS-2, and Kids Foot Locker-1.
	(5) Includes LA Fitness-6, Esporta Fitness-4, XSport Fitness-2, and City Sports Club-1.			(10) Includes Old Navy-12, Gap Factory-2, and Athleta-1.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 28


NEW & RENEWAL LEASE SUMMARY																							↩ Table of Contents
Dollars in thousands, except per square foot amounts
												Tenant Improvements and Allowances PSF		Third-Party Leasing Commissions PSF			Weighted Average Lease Term (years)		Comparable Only
			Leases		GLA	New ABR			New ABR PSF										Leases	GLA		New ABR PSF			Old ABR PSF		Rent Spread
		TOTAL - NEW, RENEWAL & OPTION LEASES
		Three months ended 12/31/25	337		2,179,975	$	44,015		$	20.19		$	4.75	$	3.37		7.5		256	1,739,030		$	19.36		$	16.32	18.6	%
		Three months ended 9/30/25	323		2,638,011	49,678			18.83			1.92		1.66			7.2		268	2,248,504		17.76			15.74		12.8	%
		Three months ended 6/30/25	459		2,465,322	51,085			20.72			3.65		2.61			6.9		386	2,108,780		20.00			16.75		19.4	%
		Three months ended 3/31/25	334		2,247,394	42,614			18.96			2.42		1.71			6.4		278	1,949,529		18.29			15.91		15.0	%
		TOTAL - TWELVE MONTHS ENDED 12/31/25	1,453		9,530,702	$	187,392		$	19.66		$	3.13	$	2.31		7.0		1,188	8,045,843		$	18.82		$	16.17	16.4	%

		NEW & RENEWAL LEASES ONLY
		Three months ended 12/31/25	293		1,453,359	$	34,007		$	23.40		$	7.13	$	5.05		8.8		212	1,012,414		$	23.36		$	18.81	24.2	%
		Three months ended 9/30/25	270		1,521,066	34,919			22.96			3.33		2.88			8.9		216	1,224,839		20.93			17.77		17.8	%
		Three months ended 6/30/25	400		1,708,956	40,673			23.80			5.27		3.77			7.8		327	1,352,414		23.49			18.91		24.2	%
		Three months ended 3/31/25	269		1,294,992	28,892			22.31			4.20		2.97			7.4		213	997,127		21.99			18.25		20.5	%
		TOTAL - TWELVE MONTHS ENDED 12/31/25	1,232		5,978,373	$	138,491		$	23.17		$	5.00	$	3.68		8.2		968	4,586,794		$	22.45		$	18.44	21.7	%

		NEW LEASES
		Three months ended 12/31/25	158		933,708	$	21,583		$	23.12		$	10.06	$	7.79		10.6		77	492,763		$	22.79		$	16.92	34.7	%
		Three months ended 9/30/25	97		613,286	15,856			25.85			6.56		7.12			11.9		43	317,059		20.73			15.89		30.5	%
		Three months ended 6/30/25	153		922,941	20,459			22.17			8.31		6.98			9.8		81	570,079		20.44			14.21		43.8	%
		Three months ended 3/31/25	104		535,386	12,181			22.75			9.63		7.16			10.7		48	237,521		21.97			14.89		47.5	%
		TOTAL - TWELVE MONTHS ENDED 12/31/25	512		3,005,321	$	70,079		$	23.32		$	8.73	$	7.29		10.6		249	1,617,422		$	21.44		$	15.46	38.7	%

		RENEWAL LEASES
		Three months ended 12/31/25	135		519,651	$	12,424		$	23.91		$	1.86	$	0.14		5.6		135	519,651		$	23.91		$	20.59	16.1	%
		Three months ended 9/30/25	173		907,780	19,063			21.00			1.15		0.02			6.8		173	907,780		21.00			18.42		14.0	%
		Three months ended 6/30/25	247		786,015	20,214			25.72			1.69		0.01			5.5		246	782,335		25.72			22.34		15.1	%
		Three months ended 3/31/25	165		759,606	16,711			22.00			0.38		0.02			5.1		165	759,606		22.00			19.30		14.0	%
		TOTAL - TWELVE MONTHS ENDED 12/31/25	720		2,973,052	$	68,412		$	23.01		$	1.22	$	0.04		5.8		719	2,969,372		$	23.01		$	20.06	14.7	%

		OPTION LEASES
		Three months ended 12/31/25	44		726,616	$	10,008		$	13.77		$	—	$	—		5.0		44	726,616		$	13.77		$	12.86	7.1	%
		Three months ended 9/30/25	53		1,116,945	14,759			13.21			—		—			5.1		52	1,023,665		13.96			13.33		4.7	%
		Three months ended 6/30/25	59		756,366	10,412			13.77			—		—			5.0		59	756,366		13.77			12.89		6.8	%
		Three months ended 3/31/25	65		952,402	13,722			14.41			—		—			5.0		65	952,402		14.41			13.45		7.1	%
		TOTAL - TWELVE MONTHS ENDED 12/31/25	221		3,552,329	$	48,901		$	13.77		$	—	$	—		5.0		220	3,459,049		$	14.00		$	13.17	6.3	%

	LEASES BY ANCHOR AND SMALL SHOP		Three Months Ended 12/31/25														Twelve Months Ended 12/31/25
			% of Leases		GLA	% of GLA			% of ABR			New ABR PSF		Rent Spread (1)			% of Leases		GLA	% of GLA		% of ABR			New ABR PSF		Rent Spread (1)
	Anchor Leases (≥ 10,000 SF)
		Total - New, Renewal & Option Leases	15	%	1,361,124	62		%	41		%	$	13.25	19.6		%	15	%	6,103,008	64	%	45		%	$	13.90	16.6	%
		New & Renewal Leases Only	11	%	750,489	52		%	34		%	15.27		32.4		%	10	%	3,111,645	52	%	37		%	16.47		28.9	%
		New Leases	13	%	525,798	56		%	39		%	15.84		49.8		%	14	%	1,754,801	58	%	45		%	17.84		57.7	%
		Renewal Leases	8	%	224,691	43		%	25		%	13.93		10.4		%	8	%	1,356,844	46	%	29		%	14.70		11.5	%
		Option Leases	45	%	610,635	84		%	66		%	10.76		6.3		%	41	%	2,991,363	84	%	69		%	11.23		5.2	%
	Small Shop Leases (< 10,000 SF)
		Total - New, Renewal & Option Leases	85	%	818,851	38		%	59		%	$	31.73	17.8		%	85	%	3,427,694	36	%	55		%	$	29.92	16.3	%
		New & Renewal Leases Only	89	%	702,870	48		%	66		%	32.08		20.0		%	90	%	2,866,728	48	%	63		%	30.43		18.1	%
		New Leases	87	%	407,910	44		%	61		%	32.49		23.2		%	86	%	1,250,520	42	%	55		%	31.01		24.0	%
		Renewal Leases	92	%	294,960	57		%	75		%	31.50		18.2		%	92	%	1,616,208	54	%	71		%	29.99		16.1	%
		Option Leases	55	%	115,981	16		%	34		%	29.64		8.8		%	59	%	560,966	16	%	31		%	27.29		9.0	%

(1) Comparable leases only.
Excludes leases signed for terms of less than one year.
ABR PSF includes the GLA of lessee-owned leasehold improvements.
Reflects portfolio statistics as reported for the specified period.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 29


NEW LEASE NET EFFECTIVE RENT & LEASES SIGNED BUT NOT YET COMMENCED																	↩ Table of Contents
Dollars in thousands, except per square foot amounts

	NEW LEASE NET EFFECTIVE RENT
				Twelve Months Ended			Three Months Ended
					12/31/25		12/31/25		9/30/25		6/30/25		3/31/25		12/31/24
		NEW LEASES
		Weighted average over lease term:
			Base rent		$	25.44	$	25.06	$	28.03	$	24.49	$	24.76	$	23.04
			Tenant improvements and allowances		(1.05)		(1.17)		(0.78)		(1.02)		(1.19)		(0.76)
			Third-party leasing commissions		(0.73)		(0.80)		(0.70)		(0.70)		(0.71)		(0.69)
		NET EFFECTIVE RENT BEFORE TENANT SPECIFIC LANDLORD WORK			23.66		23.09		26.55		22.77		22.86		21.59
			Tenant specific landlord work (1)		(2.13)		(2.48)		(2.02)		(2.19)		(1.51)		(2.12)
		NET EFFECTIVE RENT			$	21.53	$	20.61	$	24.53	$	20.58	$	21.35	$	19.47
		Net effective rent before tenant specific landlord work /
			base rent		93%		92%		95%		93%		92%		94%
		Net effective rent / base rent			85%		82%		88%		84%		86%		85%
		Weighted average term (years)			10.6		10.6		11.9		9.8		10.7		10.3

		PERCENT OF TOTAL NET EFFECTIVE RENT BY ANCHOR AND SMALL SHOP
			≥ 10,000 SF		44%		38%		55%		43%		42%		41%
			< 10,000 SF		56%		62%		45%		57%		58%		59%


	LEASES SIGNED BUT NOT YET COMMENCED (2) (3)
		As of 12/31/2025			Leases		GLA		ABR		ABR PSF
			≥ 10,000 SF		72		1,763,870		$	30,394	$	17.23
			< 10,000 SF		289		942,031		31,911		33.87
			TOTAL		361		2,705,901		$	62,305	$	23.03

		EXPECTED TIMING OF THE LEASES SIGNED BUT NOT YET COMMENCED
					2026		2027		2028+		Total
			Projected Lease Commencements		$	42,806	$	18,466	$	1,033	$	62,305

(1) Represents base building costs funded through tenant allowances.
(2) Signed but not commenced population represents approximately 440 basis points of total portfolio GLA ($62.3M in ABR), 90 basis points ($12.5M in ABR) of which represents leases on space that will be vacated by existing tenants in the near term.
(3) Includes only new leases and expansions of existing leases.
ABR PSF includes the GLA of lessee-owned leasehold improvements.
Reflects portfolio statistics as reported for the specified period.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 30


LEASE EXPIRATION SCHEDULE																													↩ Table of Contents

	ASSUMES NO EXERCISE OF RENEWAL OPTIONS

			TOTAL PORTFOLIO										SPACES ≥ 10,000 SF										SPACES < 10,000 SF
			Number		% of		% of				ABR PSF		Number		% of		% of				ABR PSF		Number		% of		% of				ABR PSF
			of	Leased	Leased		In-Place		In-place		at		of	Leased	Leased		In-Place		In-place		at		of	Leased	Leased		In-Place		In-place		at
			Leases	GLA	GLA		ABR		ABR PSF		Expiration		Leases	GLA	GLA		ABR		ABR PSF		Expiration		Leases	GLA	GLA		ABR		ABR PSF		Expiration
		M-M	176	685,497	1.1	%	1.0	%	$	15.28	$	15.28	15	296,361	0.7	%	0.4	%	$	7.00	$	7.00	161	389,136	2.1	%	1.6	%	$	21.59	$	21.59
		2026	851	4,830,714	8.1	%	6.9	%	14.97		14.99		108	2,941,057	7.2	%	5.5	%	9.62		9.62		743	1,889,657	10.0	%	8.2	%	23.30		23.33
		2027	1,098	8,005,429	13.4	%	12.5	%	16.36		16.53		180	5,438,111	13.3	%	12.3	%	11.56		11.58		918	2,567,318	13.6	%	12.6	%	26.52		26.99
		2028	1,096	6,909,399	11.6	%	12.0	%	18.21		18.66		163	4,496,614	11.0	%	11.0	%	12.46		12.55		933	2,412,785	12.8	%	12.9	%	28.93		30.06
		2029	970	7,964,526	13.4	%	12.6	%	16.62		17.16		177	5,736,160	14.1	%	13.5	%	11.99		12.13		793	2,228,366	11.8	%	11.8	%	28.52		30.11
		2030	934	7,767,334	13.0	%	12.4	%	16.75		17.42		184	5,544,048	13.6	%	13.1	%	12.05		12.17		750	2,223,286	11.8	%	11.7	%	28.47		30.53
		2031	593	5,356,681	9.0	%	8.2	%	16.13		17.78		127	3,874,877	9.5	%	9.1	%	11.98		12.81		466	1,481,804	7.9	%	7.4	%	26.96		30.78
		2032	400	2,998,006	5.0	%	5.3	%	18.52		20.58		68	1,973,990	4.8	%	4.9	%	12.54		13.52		332	1,024,016	5.4	%	5.7	%	30.06		34.19
		2033	435	3,006,235	5.0	%	5.7	%	19.85		22.50		78	1,847,513	4.5	%	4.9	%	13.43		14.73		357	1,158,722	6.1	%	6.5	%	30.10		34.89
		2034	434	3,604,255	6.0	%	6.3	%	18.32		20.94		83	2,480,054	6.1	%	6.2	%	12.75		13.90		351	1,124,201	6.0	%	6.5	%	30.62		36.46
		2035	409	3,246,949	5.5	%	6.6	%	21.52		25.00		89	2,228,416	5.6	%	6.9	%	15.78		17.48		320	1,018,533	5.4	%	6.3	%	34.06		41.44
		2036+	515	5,252,858	8.9	%	10.5	%	21.01		25.48		140	3,915,445	9.6	%	12.2	%	15.93		18.68		375	1,337,413	7.1	%	8.8	%	35.90		45.37

	ASSUMES EXERCISE OF ALL RENEWAL OPTIONS (1)

			TOTAL PORTFOLIO										SPACES ≥ 10,000 SF										SPACES < 10,000 SF
			Number		% of		% of				ABR PSF		Number		% of		% of				ABR PSF		Number		% of		% of				ABR PSF
			of	Leased	Leased		In-Place		In-place		at		of	Leased	Leased		In-Place		In-place		at		of	Leased	Leased		In-Place		In-place		at
			Leases	GLA	GLA		ABR		ABR PSF		Expiration		Leases	GLA	GLA		ABR		ABR PSF		Expiration		Leases	GLA	GLA		ABR		ABR PSF		Expiration
		M-M	176	685,497	1.1	%	1.0	%	$	15.28	$	15.28	15	296,361	0.7	%	0.4	%	$	7.00	$	7.00	161	389,136	2.1	%	1.6	%	$	21.59	$	21.59
		2026	727	3,298,649	5.5	%	4.6	%	14.73		14.74		67	1,685,100	4.1	%	2.4	%	7.24		7.24		660	1,613,549	8.6	%	6.7	%	22.55		22.58
		2027	742	2,899,858	4.9	%	5.9	%	21.20		21.58		57	1,220,965	3.0	%	3.2	%	13.28		13.35		685	1,678,893	8.9	%	8.4	%	26.95		27.57
		2028	777	2,550,990	4.3	%	5.8	%	23.68		24.71		44	888,733	2.2	%	2.4	%	13.64		14.00		733	1,662,257	8.8	%	8.9	%	29.06		30.45
		2029	602	2,074,075	3.5	%	4.6	%	23.38		25.04		30	673,106	1.7	%	1.8	%	13.59		14.56		572	1,400,969	7.4	%	7.3	%	28.09		30.08
		2030	586	2,445,966	4.1	%	5.1	%	21.99		23.72		47	1,033,428	2.5	%	3.0	%	14.57		14.99		539	1,412,538	7.5	%	7.2	%	27.42		30.10
		2031	375	1,879,649	3.2	%	3.4	%	18.89		21.63		32	953,519	2.3	%	2.1	%	11.38		12.47		343	926,130	4.9	%	4.6	%	26.63		31.05
		2032	336	2,011,757	3.4	%	3.6	%	18.93		20.95		52	1,186,230	2.9	%	2.9	%	12.47		13.43		284	825,527	4.4	%	4.3	%	28.22		31.76
		2033	323	1,998,523	3.4	%	3.6	%	19.05		21.66		57	1,204,182	3.0	%	3.0	%	12.59		13.74		266	794,341	4.2	%	4.2	%	28.85		33.66
		2034	340	2,239,015	3.7	%	4.0	%	18.70		22.38		50	1,394,504	3.4	%	3.3	%	12.00		14.83		290	844,511	4.5	%	4.7	%	29.77		34.85
		2035	364	2,734,687	4.5	%	5.0	%	19.01		21.82		71	1,884,933	4.6	%	4.9	%	13.19		14.29		293	849,754	4.5	%	5.0	%	31.94		38.54
		2036+	2,563	34,809,217	58.4	%	53.4	%	16.12		21.07		890	28,351,585	69.6	%	70.6	%	12.73		16.48		1,673	6,457,632	34.2	%	37.1	%	31.02		41.22

(1) ABR for leases whose future option rent is based on fair market value or on a percentage change in CPI is reported as the ABR for the last year of the current lease term.
ABR PSF includes the GLA of lessee-owned leasehold improvements.

	LEASE RETENTION RATE AT NATURAL EXPIRATION
							By Count		By GLA
		Twelve Months Ended 12/31/25					82.6%		86.6%


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 31


MAJOR CBSA DETAIL																		↩ Table of Contents
Dollars in thousands, except per square foot amounts

	PROPERTIES BY LARGEST US CBSAs													Percent of
				Number of		Percent		Percent						Number of		Percent		Percent
		Largest US CBSAs by 2024 Population		Properties	GLA	Billed		Leased		ABR		ABR PSF		Properties		of GLA		of ABR
		Top 50 Largest US CBSAs by Population		243	43,582,252	91.3	%	94.8	%	$	759,681	$	19.52	69.8	%	69.5	%	72.4	%
		CBSAs Ranked 51 - 100 by Population		35	6,779,887	89.8	%	93.8	%	98,928		16.53		10.1	%	10.8	%	9.4	%
		Other CBSAs		70	12,322,602	93.7	%	96.8	%	191,349		17.35		20.1	%	19.7	%	18.2	%

		TOTAL		348	62,684,741	91.6	%	95.1	%	$	1,049,958	$	18.77	100.0	%	100.0	%	100.0	%


	BRIXMOR LARGEST CBSAs BY ABR
														Percent of
			CBSA	Number of		Percent		Percent						Number of		Percent		Percent
		Largest CBSAs by ABR	Rank	Properties	GLA	Billed		Leased		ABR		ABR PSF		Properties		of GLA		of ABR
	1	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	9	21	3,950,041	95.4	%	97.9	%	$	78,336	$	23.35	5.9	%	6.4	%	7.6	%
	2	New York-Newark-Jersey City, NY-NJ	1	27	3,219,848	85.7	%	91.5	%	74,175		25.59		7.7	%	5.2	%	7.2	%
	3	Houston-Pasadena-The Woodlands, TX	5	28	4,121,998	89.7	%	94.6	%	70,160		18.20		7.9	%	6.7	%	6.6	%
	4	Chicago-Naperville-Elgin, IL-IN	3	15	3,824,753	88.3	%	91.9	%	56,984		16.66		4.2	%	6.1	%	5.4	%
	5	Dallas-Fort Worth-Arlington, TX	4	13	2,727,215	88.7	%	95.9	%	55,871		22.58		3.6	%	4.4	%	5.3	%
	6	Los Angeles-Long Beach-Anaheim, CA	2	11	1,901,253	93.5	%	96.8	%	45,656		27.01		3.1	%	3.0	%	4.3	%
	7	Atlanta-Sandy Springs-Roswell, GA	8	20	2,943,705	94.1	%	96.2	%	42,298		15.57		5.7	%	4.7	%	4.0	%
	8	Tampa-St. Petersburg-Clearwater, FL	17	12	2,241,084	92.3	%	93.9	%	34,641		17.51		3.4	%	3.6	%	3.3	%
	9	Cincinnati, OH-KY-IN	30	7	1,616,571	98.2	%	99.5	%	24,011		19.67		2.0	%	2.6	%	2.3	%
	10	Denver-Aurora-Centennial, CO	19	7	1,476,204	85.9	%	94.6	%	22,847		17.72		2.0	%	2.4	%	2.2	%
		10 Largest CBSAs by ABR	—	161	28,022,672	91.0	%	95.0	%	504,979		20.28		45.5	%	45.1	%	48.2	%

	11	Naples-Marco Island, FL	136	5	1,067,602	96.9	%	98.3	%	22,467		21.77		1.4	%	1.7	%	2.1	%
	12	Orlando-Kissimmee-Sanford, FL	20	5	813,168	94.2	%	97.6	%	21,426		27.07		1.4	%	1.3	%	2.0	%
	13	Riverside-San Bernardino-Ontario, CA	12	5	962,914	95.4	%	97.3	%	21,069		28.33		1.4	%	1.5	%	2.0	%
	14	Miami-Fort Lauderdale-West Palm Beach, FL	6	7	1,051,536	86.3	%	94.5	%	19,727		20.39		2.0	%	1.7	%	1.9	%
	15	San Diego-Chula Vista-Carlsbad, CA	18	3	657,898	95.1	%	98.8	%	18,502		28.69		0.9	%	1.0	%	1.8	%
	16	Detroit-Warren-Dearborn, MI	14	7	1,366,128	95.3	%	97.6	%	17,845		14.65		2.0	%	2.2	%	1.7	%
	17	Ann Arbor, MI	150	4	942,205	94.4	%	98.6	%	17,370		18.90		1.1	%	1.5	%	1.7	%
	18	Minneapolis-St. Paul-Bloomington, MN-WI	16	8	1,086,642	94.7	%	95.1	%	16,339		17.45		2.3	%	1.7	%	1.6	%
	19	Charlotte-Concord-Gastonia, NC-SC	21	4	1,301,437	93.2	%	97.1	%	16,267		14.14		1.1	%	2.1	%	1.5	%
	20	Hartford-West Hartford-East Hartford, CT	51	4	876,628	86.4	%	90.1	%	13,530		17.49		1.1	%	1.4	%	1.3	%
		20 Largest CBSAs by ABR	—	213	38,148,830	91.6	%	95.4	%	689,521		20.23		60.2	%	61.2	%	65.8	%

	21	Boston-Cambridge-Newton, MA-NH	11	6	771,135	95.5	%	95.9	%	13,219		17.89		1.7	%	1.2	%	1.3	%
	22	Port St. Lucie, FL	106	5	692,612	93.9	%	98.3	%	12,072		17.91		1.4	%	1.1	%	1.1	%
	23	North Port-Bradenton-Sarasota, FL	62	5	745,713	92.4	%	96.5	%	12,016		16.86		1.4	%	1.2	%	1.1	%
	24	Vallejo, CA	120	1	519,266	97.9	%	98.3	%	11,744		23.19		0.3	%	0.8	%	1.1	%
	25	Binghamton, NY	204	4	750,730	91.6	%	98.4	%	11,724		15.98		1.1	%	1.2	%	1.1	%
	26	Allentown-Bethlehem-Easton, PA-NJ	68	3	824,148	98.8	%	98.8	%	11,674		15.62		0.9	%	1.3	%	1.1	%
	27	San Francisco-Oakland-Fremont, CA	13	2	506,513	76.8	%	77.5	%	11,604		29.73		0.6	%	0.8	%	1.1	%


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 32


MAJOR CBSA DETAIL																↩ Table of Contents
Dollars in thousands, except per square foot amounts

	BRIXMOR LARGEST CBSAs BY ABR
												Percent of
			CBSA	Number of		Percent		Percent				Number of		Percent		Percent
		Largest CBSAs by ABR	Rank	Properties	GLA	Billed		Leased		ABR	ABR PSF	Properties		of GLA		of ABR
	28	Nashville-Davidson--Murfreesboro--Franklin, TN	34	4	771,283	95.6	%	96.9	%	11,338	15.24	1.1	%	1.2	%	1.1	%
	29	Memphis, TN-MS-AR	46	1	649,252	92.8	%	96.0	%	10,235	17.30	0.3	%	1.0	%	1.0	%
	30	Jacksonville, FL	39	3	700,569	90.9	%	93.7	%	9,017	14.50	0.9	%	1.1	%	0.9	%
	31	Cleveland, OH	35	3	643,028	87.5	%	87.5	%	8,918	16.00	0.9	%	1.0	%	0.8	%
	32	Indianapolis-Carmel-Greenwood, IN	33	2	709,560	89.9	%	92.1	%	8,608	13.44	0.6	%	1.1	%	0.8	%
	33	Louisville/Jefferson County, KY-IN	44	4	697,417	93.7	%	98.7	%	8,402	12.52	1.1	%	1.1	%	0.8	%
	34	Raleigh-Cary, NC	41	3	462,319	99.2	%	99.2	%	8,000	17.53	0.9	%	0.7	%	0.8	%
	35	Worcester, MA	70	3	526,403	94.2	%	97.3	%	7,205	16.69	0.9	%	0.8	%	0.7	%
	36	Scranton--Wilkes-Barre, PA	104	2	618,431	94.7	%	99.7	%	6,607	24.26	0.6	%	1.0	%	0.6	%
	37	Wilmington, NC	113	2	379,959	100.0	%	100.0	%	6,547	17.45	0.6	%	0.6	%	0.6	%
	38	Greensboro-High Point, NC	79	1	407,244	97.4	%	100.0	%	6,537	16.05	0.3	%	0.6	%	0.6	%
	39	Milwaukee-Waukesha, WI	42	3	520,769	93.6	%	94.0	%	6,473	13.24	0.9	%	0.8	%	0.6	%
	40	Oxnard-Thousand Oaks-Ventura, CA	76	2	316,299	84.7	%	99.2	%	6,341	20.99	0.6	%	0.5	%	0.6	%
	41	Hilton Head Island-Bluffton-Port Royal, SC	205	3	321,481	82.2	%	98.4	%	6,200	19.61	0.9	%	0.5	%	0.6	%
	42	New Haven, CT	102	4	486,863	92.7	%	92.7	%	6,036	13.37	1.1	%	0.8	%	0.6	%
	43	Kiryas Joel-Poughkeepsie-Newburgh, NY	86	3	401,205	95.4	%	96.6	%	5,778	16.04	0.9	%	0.6	%	0.6	%
	44	Atlantic City-Hammonton, NJ	154	2	315,530	98.5	%	100.0	%	5,709	18.09	0.6	%	0.5	%	0.5	%
	45	Spartanburg, SC	139	1	376,624	94.2	%	95.4	%	5,356	15.26	0.3	%	0.6	%	0.5	%
	46	College Station-Bryan, TX	176	2	296,841	97.6	%	98.2	%	5,205	23.52	0.6	%	0.5	%	0.5	%
	47	Manchester-Nashua, NH	130	2	234,324	99.5	%	100.0	%	5,188	23.79	0.6	%	0.4	%	0.5	%
	48	Cape Coral-Fort Myers, FL	73	1	281,822	97.3	%	97.3	%	5,055	18.93	0.3	%	0.4	%	0.5	%
	49	Washington-Arlington-Alexandria, DC-VA-MD-WV	7	2	412,549	74.3	%	79.0	%	4,836	15.00	0.6	%	0.7	%	0.5	%
	50	Boulder, CO	163	1	275,919	98.5	%	99.0	%	4,731	17.32	0.3	%	0.4	%	0.5	%
		50 Largest CBSAs by ABR	—	293	53,764,638	92.0	%	95.5	%	931,896	19.32	83.5	%	85.7	%	88.9	%

	51	Greenville-Anderson-Greer, SC	56	2	220,723	99.4	%	100.0	%	4,542	21.07	0.6	%	0.4	%	0.4	%
	52	Panama City-Panama City Beach, FL	212	2	403,492	99.0	%	99.3	%	4,484	11.36	0.6	%	0.6	%	0.4	%
	53	Norwich-New London-Willimantic, CT	177	1	245,533	87.4	%	92.5	%	4,480	20.17	0.3	%	0.4	%	0.4	%
	54	Bakersfield-Delano, CA	64	1	240,068	97.8	%	100.0	%	4,156	17.62	0.3	%	0.4	%	0.4	%
	55	Sacramento-Roseville-Folsom, CA	27	1	101,466	94.1	%	100.0	%	4,080	40.21	0.3	%	0.2	%	0.4	%
	56	Winston-Salem, NC	87	2	351,938	76.0	%	76.0	%	3,740	14.69	0.6	%	0.6	%	0.4	%
	57	Greenville, NC	253	1	233,153	100.0	%	100.0	%	3,727	15.99	0.3	%	0.4	%	0.4	%
	58	Springfield, MA	119	2	321,398	91.7	%	92.2	%	3,476	16.18	0.6	%	0.5	%	0.3	%
	59	Dayton-Kettering-Beavercreek, OH	77	1	333,998	70.5	%	70.5	%	3,443	15.10	0.3	%	0.5	%	0.3	%
	60	Richmond, VA	45	1	152,279	92.0	%	99.3	%	3,168	20.96	0.3	%	0.2	%	0.3	%
	61	Pittsfield, MA	335	1	188,493	99.1	%	99.1	%	3,161	16.93	0.3	%	0.3	%	0.3	%
	62	Columbus, OH	32	2	277,000	96.0	%	96.1	%	3,151	12.22	0.6	%	0.4	%	0.3	%
	63	Fresno, CA	49	1	200,166	96.2	%	96.2	%	3,094	16.06	0.3	%	0.3	%	0.3	%
	64	Savannah, GA	128	2	214,679	97.9	%	97.9	%	3,087	14.69	0.6	%	0.3	%	0.3	%
	65	Virginia Beach-Chesapeake-Norfolk, VA-NC	38	1	150,014	83.7	%	83.7	%	3,027	24.40	0.3	%	0.2	%	0.3	%


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 33


MAJOR CBSA DETAIL																		↩ Table of Contents
Dollars in thousands, except per square foot amounts

	BRIXMOR LARGEST CBSAs BY ABR
														Percent of
			CBSA	Number of		Percent		Percent						Number of		Percent		Percent
		Largest CBSAs by ABR	Rank	Properties	GLA	Billed		Leased		ABR		ABR PSF		Properties		of GLA		of ABR
	66	Roanoke, VA	167	2	311,149	100.0	%	100.0	%	3,016		11.95		0.6	%	0.5	%	0.3	%
	67	Bridgeport-Stamford-Danbury, CT	60	1	180,507	79.0	%	95.2	%	2,961		19.43		0.3	%	0.3	%	0.3	%
	68	Kansas City, MO-KS	31	2	286,525	96.7	%	97.7	%	2,904		10.37		0.6	%	0.5	%	0.3	%
	69	Concord, NH	285	1	196,542	62.9	%	79.1	%	2,843		19.56		0.3	%	0.3	%	0.3	%
	70	Duluth, MN-WI	181	1	183,105	83.3	%	93.0	%	2,541		14.93		0.3	%	0.3	%	0.2	%
	71	Santa Maria-Santa Barbara, CA	124	1	166,696	100.0	%	100.0	%	2,511		15.06		0.3	%	0.3	%	0.2	%
	72	Tucson, AZ	53	1	165,350	100.0	%	100.0	%	2,408		14.56		0.3	%	0.3	%	0.2	%
	73	Portland-South Portland, ME	103	1	287,459	83.9	%	100.0	%	2,362		19.84		0.3	%	0.5	%	0.2	%
	74	Flint, MI	140	1	164,632	98.5	%	100.0	%	2,342		14.32		0.3	%	0.3	%	0.2	%
	75	Columbus, IN	439	1	143,740	96.9	%	98.1	%	2,299		16.31		0.3	%	0.2	%	0.2	%
	76	Trenton-Princeton, NJ	143	1	149,993	100.0	%	100.0	%	2,294		15.29		0.3	%	0.2	%	0.2	%
	77	Toledo, OH	99	1	298,765	65.8	%	88.9	%	2,121		13.55		0.3	%	0.5	%	0.2	%
	78	Crestview-Fort Walton Beach-Destin, FL	171	1	158,118	100.0	%	100.0	%	2,110		13.34		0.3	%	0.3	%	0.2	%
	79	Rutland, VT	552	1	223,314	93.5	%	93.5	%	2,088		10.00		0.3	%	0.4	%	0.2	%
	80	Manhattan, KS	321	1	214,898	93.4	%	94.4	%	2,076		16.97		0.3	%	0.3	%	0.2	%
	81	Deltona-Daytona Beach-Ormond Beach, FL	84	1	184,379	75.6	%	90.1	%	2,071		12.47		0.3	%	0.3	%	0.2	%
	82	Austin-Round Rock-San Marcos, TX	25	1	170,605	89.5	%	89.5	%	2,066		13.53		0.3	%	0.3	%	0.2	%
	83	Palm Bay-Melbourne-Titusville, FL	91	1	131,243	91.3	%	91.3	%	1,977		16.51		0.3	%	0.2	%	0.2	%
	84	Charleston-North Charleston, SC	71	1	174,094	98.6	%	98.6	%	1,918		11.32		0.3	%	0.3	%	0.2	%
	85	Lexington Park, MD	230	1	92,335	100.0	%	100.0	%	1,868		20.23		0.3	%	0.1	%	0.2	%
	86	Ithaca, NY	382	1	204,405	69.1	%	71.1	%	1,864		12.82		0.3	%	0.3	%	0.2	%
	87	Murrells Inlet, SC	519	1	120,453	97.7	%	97.7	%	1,836		15.60		0.3	%	0.2	%	0.2	%
	88	Lansing-East Lansing, MI	116	1	160,946	100.0	%	100.0	%	1,781		11.07		0.3	%	0.3	%	0.2	%
	89	Corbin, KY	301	1	166,026	99.0	%	99.0	%	1,640		9.97		0.3	%	0.3	%	0.2	%
	90	Lafayette-West Lafayette, IN	214	1	132,027	100.0	%	100.0	%	1,540		11.66		0.3	%	0.2	%	0.1	%
	91	Knoxville, TN	61	1	119,360	100.0	%	100.0	%	1,455		12.19		0.3	%	0.2	%	0.1	%
	92	Corpus Christi, TX	122	1	84,667	95.3	%	95.3	%	1,438		17.83		0.3	%	0.1	%	0.1	%
	93	Modesto, CA	107	1	87,124	75.1	%	100.0	%	1,418		16.75		0.3	%	0.1	%	0.1	%
	94	St. Louis, MO-IL	23	1	137,408	69.6	%	69.6	%	1,387		15.01		0.3	%	0.2	%	0.1	%
	95	Parkersburg-Vienna, WV	433	1	75,344	100.0	%	100.0	%	884		11.73		0.3	%	0.1	%	0.1	%
	96	Muskegon-Norton Shores, MI	260	1	104,600	42.3	%	46.2	%	836		17.31		0.3	%	0.2	%	0.1	%
	97	Altoona, PA	356	1	9,894	86.7	%	100.0	%	391		39.52		0.3	%	0.0	%	0.0	%
	TOTAL		—	348	62,684,741	91.6	%	95.1	%	$	1,049,958	$	18.77	100.0	%	100.0	%	100.0	%


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 34


PROPERTIES BY STATE																	↩ Table of Contents
Dollars in thousands, except per square foot amounts

													Percent of
			Number of		Percent		Percent						Number of		Percent		Percent
		State	Properties	GLA	Billed		Leased		ABR		ABR PSF		Properties		of GLA		of ABR
	1	Florida	48	8,471,338	92.6	%	95.8	%	$	147,063	$	18.66	13.8	%	13.5	%	14.0	%
	2	Texas	45	7,401,326	89.7	%	95.1	%	134,740		19.86		12.9	%	11.8	%	12.8	%
	3	California	29	5,659,663	92.6	%	96.0	%	130,175		25.73		8.4	%	9.0	%	12.4	%
	4	New York	27	3,442,455	88.4	%	94.3	%	75,798		23.96		7.8	%	5.4	%	7.3	%
	5	Pennsylvania	22	4,211,974	95.2	%	98.1	%	74,637		22.21		6.3	%	6.7	%	7.2	%
	6	Illinois	15	3,824,753	88.3	%	91.9	%	56,984		16.66		4.3	%	6.1	%	5.4	%
	7	New Jersey	16	2,789,796	91.6	%	93.8	%	48,117		19.54		4.6	%	4.5	%	4.6	%
	8	Georgia	22	3,158,384	94.3	%	96.3	%	45,385		15.51		6.3	%	5.0	%	4.3	%
	9	North Carolina	13	3,136,050	94.0	%	96.0	%	44,818		15.58		3.7	%	5.0	%	4.3	%
	10	Michigan	14	2,738,511	93.4	%	96.3	%	40,174		16.01		4.0	%	4.4	%	3.8	%
	11	Ohio	13	2,489,723	87.6	%	90.8	%	32,023		17.00		3.7	%	4.0	%	3.0	%
	12	Colorado	8	1,752,123	87.9	%	95.3	%	27,578		17.65		2.3	%	2.8	%	2.6	%
	13	Connecticut	10	1,789,531	87.5	%	91.7	%	27,007		16.89		2.9	%	2.9	%	2.6	%
	14	Massachusetts	11	1,657,165	94.8	%	96.0	%	25,379		17.76		3.2	%	2.6	%	2.4	%
	15	Tennessee	6	1,539,895	94.8	%	96.8	%	23,028		15.83		1.7	%	2.5	%	2.2	%
	16	South Carolina	8	1,213,375	92.9	%	97.7	%	19,852		16.97		2.3	%	1.9	%	1.9	%
	17	Kentucky	6	1,543,082	96.2	%	99.1	%	19,663		14.33		1.7	%	2.5	%	1.9	%
	18	Minnesota	9	1,269,747	93.0	%	94.8	%	18,880		17.06		2.6	%	2.0	%	1.8	%
	19	Indiana	4	985,327	92.3	%	94.0	%	12,447		13.62		1.1	%	1.6	%	1.2	%
	20	Virginia	5	746,349	91.7	%	93.2	%	10,282		16.19		1.4	%	1.2	%	1.0	%
	21	New Hampshire	4	581,130	86.1	%	91.9	%	9,713		19.16		1.1	%	0.9	%	0.9	%
	22	Wisconsin	3	520,769	93.6	%	94.0	%	6,473		13.24		0.9	%	0.8	%	0.6	%
	23	Maryland	2	371,977	78.3	%	83.5	%	5,633		18.35		0.6	%	0.6	%	0.5	%
	24	Missouri	3	423,933	87.9	%	88.6	%	4,291		11.53		0.9	%	0.7	%	0.4	%
	25	Arizona	1	165,350	100.0	%	100.0	%	2,408		14.56		0.3	%	0.3	%	0.2	%
	26	Maine	1	287,459	83.9	%	100.0	%	2,362		19.84		0.3	%	0.5	%	0.2	%
	27	Vermont	1	223,314	93.5	%	93.5	%	2,088		10.00		0.3	%	0.4	%	0.2	%
	28	Kansas	1	214,898	93.4	%	94.4	%	2,076		16.97		0.3	%	0.3	%	0.2	%
	29	West Virginia	1	75,344	100.0	%	100.0	%	884		11.73		0.3	%	0.1	%	0.1	%

	TOTAL		348	62,684,741	91.6	%	95.1	%	$	1,049,958	$	18.77	100.0	%	100.0	%	100.0	%


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 35


PROPERTY LIST															↩ Table of Contents
Dollars in thousands, except per square foot amounts
					Year		Percent								Non-Owned
	Property Name	City	State	Core-Based Statistical Area	Built	GLA	Leased		ABR		ABR PSF		Grocer (1) (4)	Other Major Tenants (4)	Major Tenants

1	Northmall Centre	Tucson	AZ	Tucson, AZ	1996	165,350	100.0	%	$	2,408	$	14.56	Sam's Club*	Ace Pickleball Club, Big 5 Sporting Goods, CareMore, Defy-Tucson, Dollar Tree	—
2	Bakersfield Plaza	Bakersfield	CA	Bakersfield-Delano, CA	1970	240,068	100.0	%	4,156		17.62		Lassens Natural Foods & Vitamins	AMC, Burlington Stores, Five Below, In Shape Fitness, Kids Empire, Ross Dress for Less	Hobby Lobby
3	Brea Gateway	Brea	CA	Los Angeles-Long Beach-Anaheim, CA	1994	181,819	100.0	%	5,831		32.52		Ralphs (Kroger)	Boot Barn, HomeGoods, World Market	—
4	Carmen Plaza	Camarillo	CA	Oxnard-Thousand Oaks-Ventura, CA	2000	128,369	99.0	%	3,467		28.77		TBA, Trader Joe's*	CVS, Harbor Freight Tools	—
5	Plaza Rio Vista	Cathedral	CA	Riverside-San Bernardino-Ontario, CA	2005	75,415	98.3	%	1,637		24.67		Stater Bros.	—	—
6	Chino Spectrum Towne Center	Chino	CA	Riverside-San Bernardino-Ontario, CA	2002	461,246	95.3	%	9,858		31.84		H Mart, Sam's Club, Walmart Supercenter	Best Buy, BevMo, Big 5 Sporting Goods, DSW, Kohl's, Marshalls, Nordstrom Rack, Skechers, Tilly's, Ulta	—
7	Cudahy Plaza	Cudahy	CA	Los Angeles-Long Beach-Anaheim, CA	2021	123,200	94.3	%	2,989		25.72		Sprouts Farmers Market	Burlington Stores, Chuze Fitness	—
8	The Davis Collection	Davis	CA	Sacramento-Roseville-Folsom, CA	2025	101,466	100.0	%	4,080		40.21		Trader Joe's	Nordstrom Rack, PetSmart, Ulta	—
9	Felicita Plaza	Escondido	CA	San Diego-Chula Vista-Carlsbad, CA	2001	98,594	94.9	%	1,743		18.62		Vons (Albertsons)	Chuze Fitness	—
10	Felicita Town Center	Escondido	CA	San Diego-Chula Vista-Carlsbad, CA	1987	124,670	97.8	%	3,576		29.32		Major Market, Trader Joe's	FunBox	—
11	Arbor Faire	Fresno	CA	Fresno, CA	1995	200,166	96.2	%	3,094		16.06		Smart & Final Extra! (Chedraui USA)	Boot Barn, PetSmart, The Home Depot	DICK's Sporting Goods
12	Lompoc Center	Lompoc	CA	Santa Maria-Santa Barbara, CA	1960	166,696	100.0	%	2,511		15.06		ALDI	Boot Barn, Harbor Freight Tools, Marshalls, Michaels, Old Navy, Petco, Ulta	—
13	Briggsmore Plaza	Modesto	CA	Modesto, CA	1998	87,124	100.0	%	1,418		16.75		Grocery Outlet	dd's Discounts (Ross), Ross Dress for Less	In Shape Fitness
14	Montebello Plaza	Montebello	CA	Los Angeles-Long Beach-Anaheim, CA	1974	284,331	94.4	%	6,182		23.22		Albertsons	Best Buy, CVS, Kohl's, Optum Urgent Care, Ross Dress for Less	—
15	California Oaks Center	Murrieta	CA	Riverside-San Bernardino-Ontario, CA	1990	124,481	100.0	%	2,617		21.69		Barons Market	Crunch Fitness, Dollar Tree	—
16	Pacoima Center	Pacoima	CA	Los Angeles-Long Beach-Anaheim, CA	1995	215,930	100.0	%	2,985		13.99		Food 4 Less (Kroger)	AutoZone, Ross Dress for Less, Target	—
17	Metro 580	Pleasanton	CA	San Francisco-Oakland-Fremont, CA	1996	177,573	35.9	%	1,485		23.31		—	—	Walmart
18	Rose Pavilion	Pleasanton	CA	San Francisco-Oakland-Fremont, CA	2019	328,940	100.0	%	10,119		30.98		99 Ranch Market, Trader Joe's	CVS, Fitness 19, Macy's Home Store, Restoration Hardware, Total Wine & More	—
19	Puente Hills Town Center	Rowland Heights	CA	Los Angeles-Long Beach-Anaheim, CA	2025	258,685	96.3	%	7,074		28.39		ALDI	Dollar Tree, East West Bank, Goodwill, Marshalls/HomeGoods, Planet Fitness	—
20	Ocean View Plaza	San Clemente	CA	Los Angeles-Long Beach-Anaheim, CA	1990	169,963	98.2	%	5,799		34.73		Ralphs (Kroger), Trader Joe's	Crunch Fitness, CVS	—
21	Plaza By The Sea	San Clemente	CA	Los Angeles-Long Beach-Anaheim, CA	1976	48,697	100.0	%	1,491		30.62		Stater Bros.	—	—
22	Village at Mira Mesa	San Diego	CA	San Diego-Chula Vista-Carlsbad, CA	2023	434,634	100.0	%	13,183		30.71		Sprouts Farmers Market, Vons (Albertsons)	BevMo, Burlington Stores, CVS, Marshalls, Michaels, Petco	—
23	San Dimas Plaza	San Dimas	CA	Los Angeles-Long Beach-Anaheim, CA	1986	164,757	97.4	%	4,339		27.04		Smart & Final Extra! (Chedraui USA)	Harbor Freight Tools, T.J.Maxx	Big 5 Sporting Goods, Burlington Stores
24	Bristol Plaza	Santa Ana	CA	Los Angeles-Long Beach-Anaheim, CA	2003	111,403	82.0	%	3,511		39.41		Trader Joe's	Petco, Ross Dress for Less	—
25	Gateway Plaza	Santa Fe Springs	CA	Los Angeles-Long Beach-Anaheim, CA	2002	289,268	100.0	%	4,086		27.47		El Super (Chedraui USA), Walmart Supercenter	Five Below, Ross Dress for Less	Target
26	Santa Paula Center	Santa Paula	CA	Oxnard-Thousand Oaks-Ventura, CA	1995	187,930	99.4	%	2,874		15.83		Vons (Albertsons)	Ace Hardware, Big 5 Sporting Goods, CVS, Dollar Tree, Planet Fitness, Regency Theaters	—
27	Vail Ranch Center	Temecula	CA	Riverside-San Bernardino-Ontario, CA	2024	201,682	98.4	%	4,377		29.60		Stater Bros.	Burlington Stores, Dollar Tree, Five Below, Harbor Freight Tools, Kahoots	—
28	Country Hills Shopping Center	Torrance	CA	Los Angeles-Long Beach-Anaheim, CA	1977	53,200	97.7	%	1,369		26.35		Ralphs (Kroger)	—	—
29	Upland Town Square	Upland	CA	Riverside-San Bernardino-Ontario, CA	1994	100,090	100.0	%	2,580		26.02		Sprouts Farmers Market	—	—
30	Gateway Plaza - Vallejo (2)	Vallejo	CA	Vallejo, CA	2023	519,266	98.3	%	11,744		23.19		Costco*	Boot Barn, Century Theatres, City Sports Club, DSW, Mancini's Sleepworld, Marshalls, Michaels, OfficeMax, Petco, PetSmart, Ross Dress for Less, Sky Zone, Ulta	Target
31	Arvada Plaza	Arvada	CO	Denver-Aurora-Centennial, CO	1994	93,904	100.0	%	1,053		11.58		King Soopers (Kroger)	Arc	—
32	Arapahoe Crossings	Aurora	CO	Denver-Aurora-Centennial, CO	1996	476,299	87.7	%	7,698		18.63		King Soopers (Kroger)	2nd & Charles, Ace Hardware, Ace Pickleball, Activate, AMC, Boot Barn, Burlington Stores, Goldfish Swim School, Hobby Lobby, Planet Fitness	—
33	Aurora Plaza	Aurora	CO	Denver-Aurora-Centennial, CO	1996	178,013	100.0	%	2,405		13.99		King Soopers (Kroger)	Chuze Fitness, iGen	—
34	Broomfield Town Centre	Broomfield	CO	Denver-Aurora-Centennial, CO	1998	175,368	94.1	%	3,098		20.95		King Soopers (Kroger)	Petco	Home Depot


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 36


PROPERTY LIST													↩ Table of Contents
Dollars in thousands, except per square foot amounts
					Year		Percent						Non-Owned
	Property Name	City	State	Core-Based Statistical Area	Built	GLA	Leased		ABR	ABR PSF	Grocer (1) (4)	Other Major Tenants (4)	Major Tenants

35	Villa Monaco	Denver	CO	Denver-Aurora-Centennial, CO	1978	121,101	96.6	%	2,117	18.09	—	Chuze Fitness	—
36	Centennial Shopping Center	Englewood	CO	Denver-Aurora-Centennial, CO	2013	113,830	100.0	%	1,441	39.46	King Soopers (Kroger)	—	—
37	Superior Marketplace	Superior	CO	Boulder, CO	1997	275,919	99.0	%	4,731	17.32	Whole Foods Market (Amazon), Costco, SuperTarget	Barnes & Noble, Chuck E. Cheese, Goldfish Swim School, Michaels, PetSmart, Restoration Hardware Outlet, Stickley Furniture, T.J.Maxx, Ulta	—
38	Westminster City Center	Westminster	CO	Denver-Aurora-Centennial, CO	2024	317,689	98.1	%	5,035	16.15	Trader Joe's	Barnes & Noble, Cavender's Boot City, David's Bridal, Dollar Tree, DSW, Golf Galaxy, Hyper Kidz, Petco, Ross Dress for Less, Sierra Trading Post, The Tile Shop, Ulta	—
39	The Shoppes at Fox Run	Glastonbury	CT	Hartford-West Hartford-East Hartford, CT	1974	108,167	94.3	%	3,054	29.94	Whole Foods Market (Amazon)	Petco	—
40	Parkway Plaza	Hamden	CT	New Haven, CT	2006	72,353	100.0	%	1,144	15.81	Price Rite Marketplace (Wakefern)	—	The Home Depot
41	The Manchester Collection (2)	Manchester	CT	Hartford-West Hartford-East Hartford, CT	2001	310,649	86.4	%	3,263	12.97	Walmart Supercenter*	Advance Auto Parts, Crazy Hot Deals, DSW, Edge Fitness, Lava Island, Namco, Pickleball Kingdom, Savers, U.S. Furniture, World Market	—
42	The Plaza at Buckland Hills	Manchester	CT	Hartford-West Hartford-East Hartford, CT	1987	307,918	89.0	%	5,479	19.98	Trader Joe's	Burlington Stores, Dollar Tree, K&G Fashion, Marshalls, Michaels, Nordstrom Rack, PetSmart, Total Wine & More, Ulta	—
43	Turnpike Plaza	Newington	CT	Hartford-West Hartford-East Hartford, CT	2004	149,894	97.1	%	1,734	11.91	Price Chopper (Northeast Grocery)	—	—
44	North Haven Crossing	North Haven	CT	New Haven, CT	1993	102,787	89.8	%	1,644	17.81	—	Barnes & Noble, Dollar Tree, HomeGoods, PetSmart	—
45	Colonial Commons - Orange	Orange	CT	New Haven, CT	1996	133,786	90.8	%	609	5.01	—	—	—
46	Stratford Square	Stratford	CT	Bridgeport-Stamford-Danbury, CT	1984	180,507	95.2	%	2,961	19.43	ALDI	Esporta Fitness, Five Below, Marshalls	—
47	Waterbury Plaza	Waterbury	CT	New Haven, CT	2000	177,937	92.9	%	2,639	15.97	Super Stop & Shop (Ahold Delhaize)	Dollar Tree, Joey'z Shopping Spree	Target
48	Waterford Commons	Waterford	CT	Norwich-New London-Willimantic, CT	2004	245,533	92.5	%	4,480	20.17	—	Books-A-Million, DICK'S Sporting Goods, DSW, Michaels, Tractor Supply Co., Ulta	Best Buy, Raymour & Flanigan
49	Center of Bonita Springs	Bonita Springs	FL	Cape Coral-Fort Myers, FL	2014	281,822	97.3	%	5,055	18.93	Publix	bealls, Burlington Stores, Gold's Gym, Kohl's, Naples Community Hospital, NewSouth Window Solutions	—
50	Coastal Way - Coastal Landing (2)	Brooksville	FL	Tampa-St. Petersburg-Clearwater, FL	2008	393,249	100.0	%	6,736	20.07	BJ's Wholesale Club, Sprouts Farmers Market	Belk, Burlington Stores, HomeGoods, Marshalls, Michaels, Petco, Ulta	—
51	Clearwater Mall	Clearwater	FL	Tampa-St. Petersburg-Clearwater, FL	1973	300,729	98.0	%	8,020	27.21	Costco, SuperTarget	Burlington Stores, Dollar Tree, Five Below, Golf Galaxy, Michaels, PetSmart, Ross Dress for Less, Ulta	Lowe's
52	Coconut Creek Plaza	Coconut Creek	FL	Miami-Fort Lauderdale-West Palm Beach, FL	2005	263,646	92.7	%	4,479	18.48	Publix	Burlington Stores, Harvest Church, Off the Wall Trampoline, Planet Fitness, Sanitas Medical Center	—
53	Century Plaza Shopping Center	Deerfield Beach	FL	Miami-Fort Lauderdale-West Palm Beach, FL	2006	90,483	84.3	%	2,054	26.94	—	Broward County Library, CVS	—
54	Northgate Shopping Center	DeLand	FL	Deltona-Daytona Beach-Ormond Beach, FL	1993	184,379	90.1	%	2,071	12.47	Publix	Marshalls, Planet Fitness, Tractor Supply Co.	—
55	Sun Plaza	Fort Walton Beach	FL	Crestview-Fort Walton Beach-Destin, FL	2004	158,118	100.0	%	2,110	13.34	Publix, ALDI*	bealls, Books-A-Million, Office Depot, T.J.Maxx	—
56	Normandy Square	Jacksonville	FL	Jacksonville, FL	1996	89,822	100.0	%	952	10.91	Winn-Dixie (Southeastern Grocers)	Ace Hardware, Family Dollar	—
57	Regency Park Shopping Center	Jacksonville	FL	Jacksonville, FL	1985	334,647	94.4	%	3,638	12.58	NetCost Market	American Freight, bealls, Crunch Fitness, Dollar Tree, Ollie's Bargain Outlet, Surplus Warehouse	—
58	Ventura Downs	Kissimmee	FL	Orlando-Kissimmee-Sanford, FL	2018	98,191	100.0	%	2,218	22.59	—	Esporta Fitness, La Familia Pawn & Jewelry	—
59	Marketplace at Wycliffe	Lake Worth	FL	Miami-Fort Lauderdale-West Palm Beach, FL	2002	135,820	100.0	%	3,006	22.51	Walmart Neighborhood Market	Walgreens	—
60	Venetian Isle Shopping Ctr	Lighthouse Point	FL	Miami-Fort Lauderdale-West Palm Beach, FL	1992	185,675	94.1	%	2,048	11.90	Publix	City Mattress, Dollar Tree, Staples	—
61	Marco Town Center	Marco Island	FL	Naples-Marco Island, FL	2023	109,545	100.0	%	3,376	30.82	Publix	—	—
62	Shops at Palm Lakes	Miami	FL	Miami-Fort Lauderdale-West Palm Beach, FL	2023	231,536	100.0	%	5,337	25.19	Fresco y Más	dd's Discounts (Ross), LA Fitness, Ross Dress for Less	—
63	Freedom Square	Naples	FL	Naples-Marco Island, FL	2021	193,242	100.0	%	2,902	15.02	Publix	Burlington Stores, HomeGoods, Planet Fitness	—
64	Granada Shoppes	Naples	FL	Naples-Marco Island, FL	2011	306,579	100.0	%	6,380	20.81	Trader Joe's	Chuck E. Cheese, Connors Steak and Seafood, Dollar Tree, Haverty's Furniture, Hobby Lobby, HomeSense, Marshalls	—
65	Naples Plaza	Naples	FL	Naples-Marco Island, FL	2013	201,795	100.0	%	4,531	22.84	Publix	Marshalls, Office Depot, PGA TOUR Superstore, West Marine	—
66	Park Shore Plaza	Naples	FL	Naples-Marco Island, FL	2017	256,441	92.7	%	5,278	23.52	The Fresh Market	Barnes & Noble, Burlington Stores, Dollar Tree, HomeGoods, Saks OFF Fifth	—
67	Chelsea Place	New Port Richey	FL	Tampa-St. Petersburg-Clearwater, FL	1992	81,144	94.5	%	1,099	14.33	Publix	—	—
68	Colonial Marketplace	Orlando	FL	Orlando-Kissimmee-Sanford, FL	1986	141,069	100.0	%	2,379	16.86	—	JAS Furniture Group, LA Fitness	Target


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 37


PROPERTY LIST													↩ Table of Contents
Dollars in thousands, except per square foot amounts
					Year		Percent						Non-Owned
	Property Name	City	State	Core-Based Statistical Area	Built	GLA	Leased		ABR	ABR PSF	Grocer (1) (4)	Other Major Tenants (4)	Major Tenants

69	Conway Crossing	Orlando	FL	Orlando-Kissimmee-Sanford, FL	2002	76,321	100.0	%	1,293	16.94	Publix	—	—
70	Hunter's Creek Plaza	Orlando	FL	Orlando-Kissimmee-Sanford, FL	1998	74,583	100.0	%	1,461	20.10	Seabra Foods	Office Depot	—
71	Pointe Orlando (3)	Orlando	FL	Orlando-Kissimmee-Sanford, FL	2026	423,004	95.3	%	14,075	34.91	—	Activate, Capital Grille, Cuba Libre, Dick's Last Resort, Hampton Social, Improv & Fat Fish Blue, Main Event, Maggiano's Little Italy, Monkey Joe's, Museum of Ice Cream, Regal Cinemas, Rodizio Grill, Sports & Social, Wonderworks	—
72	Martin Downs Town Center	Palm City	FL	Port St. Lucie, FL	1996	64,546	100.0	%	879	13.62	Publix	—	—
73	Martin Downs Village Center (2)	Palm City	FL	Port St. Lucie, FL	1987	167,145	97.2	%	3,825	24.51	—	Goodwill, Walgreens	—
74	23rd Street Station	Panama City	FL	Panama City-Panama City Beach, FL	1995	98,827	98.7	%	1,607	16.47	Publix	—	—
75	Panama City Square	Panama City	FL	Panama City-Panama City Beach, FL	1989	304,665	99.5	%	2,877	9.68	Walmart Supercenter	Good Deal Charlie’s Furniture, Harbor Freight Tools, HomeGoods, T.J.Maxx	—
76	East Port Plaza	Port St. Lucie	FL	Port St. Lucie, FL	2024	214,489	99.2	%	3,473	16.32	Publix	Fortis Institute, Goodwill, Urban Air Adventure Park, Walgreens	—
77	Shoppes of Victoria Square	Port St. Lucie	FL	Port St. Lucie, FL	1990	95,186	98.9	%	1,478	15.69	Winn-Dixie (ALDI)	—	—
78	Lake St. Charles	Riverview	FL	Tampa-St. Petersburg-Clearwater, FL	1999	61,015	100.0	%	818	14.35	Winn-Dixie (Southeastern Grocers)	—	—
79	Cobblestone Village	Royal Palm Beach	FL	Miami-Fort Lauderdale-West Palm Beach, FL	2005	39,404	96.4	%	960	25.26	SuperTarget*	—	—
80	Beneva Village Shoppes	Sarasota	FL	North Port-Bradenton-Sarasota, FL	2020	144,078	100.0	%	3,065	21.27	Publix	Archwell Health, Fitness Premier, Harbor Freight Tools	—
81	Sarasota Village	Sarasota	FL	North Port-Bradenton-Sarasota, FL	1972	173,654	100.0	%	2,561	15.12	Publix	Crunch Fitness, HomeGoods, Ross Dress For Less	—
82	Atlantic Plaza	Satellite Beach	FL	Palm Bay-Melbourne-Titusville, FL	2008	131,243	91.3	%	1,977	16.51	Publix	Home Centric, Planet Fitness	—
83	Seminole Plaza	Seminole	FL	Tampa-St. Petersburg-Clearwater, FL	2020	156,718	100.0	%	2,290	14.61	Sprouts Farmers Market	bealls, Burlington Stores, T.J.Maxx	—
84	Cobblestone Village	St. Augustine	FL	Jacksonville, FL	2003	276,100	90.9	%	4,427	18.05	Publix	Bealls Florida, Burlington Stores, Michaels, Petco	—
85	Dolphin Village	St. Pete Beach	FL	Tampa-St. Petersburg-Clearwater, FL	1990	135,796	80.6	%	2,230	20.80	Publix	CVS	—
86	Rutland Plaza	St. Petersburg	FL	Tampa-St. Petersburg-Clearwater, FL	2002	149,562	98.8	%	1,327	8.98	Winn-Dixie (ALDI)	bealls	—
87	Tyrone Gardens	St. Petersburg	FL	Tampa-St. Petersburg-Clearwater, FL	2023	174,015	81.4	%	2,280	16.09	Winn-Dixie (Southeastern Grocers)	Chuck E. Cheese, Crunch Fitness	—
88	Downtown Publix	Stuart	FL	Port St. Lucie, FL	2000	151,246	96.9	%	2,417	16.49	Publix	Revive Health & Wellness	—
89	Sunrise Town Center (3)	Sunrise	FL	Miami-Fort Lauderdale-West Palm Beach, FL	2026	104,972	88.7	%	1,843	19.79	Patel Brothers, Publix	Dollar Tree	Walmart
90	Britton Plaza	Tampa	FL	Tampa-St. Petersburg-Clearwater, FL	1958	465,639	88.2	%	3,802	10.92	Publix	Burlington Stores, Conviva Care Center, Dollar Tree, Marshalls, Michaels, Pet Supermarket	—
91	Carrollwood Center	Tampa	FL	Tampa-St. Petersburg-Clearwater, FL	2002	92,678	97.1	%	1,955	21.73	Publix	Phenix Salon Suites	—
92	Ross Plaza	Tampa	FL	Tampa-St. Petersburg-Clearwater, FL	1996	84,707	90.2	%	1,373	17.97	—	Dollar Tree, Ross Dress for Less	—
93	Shoppes at Tarpon	Tarpon Springs	FL	Tampa-St. Petersburg-Clearwater, FL	2003	145,832	100.0	%	2,711	18.59	Publix	Petco, T.J.Maxx, Ulta	—
94	Venice Plaza	Venice	FL	North Port-Bradenton-Sarasota, FL	1999	140,345	98.9	%	1,251	9.02	ALDI	T.J.Maxx/HomeGoods	—
95	Venice Shopping Center	Venice	FL	North Port-Bradenton-Sarasota, FL	2000	109,801	78.4	%	949	11.02	Publix	—	—
96	Venice Village	Venice	FL	North Port-Bradenton-Sarasota, FL	2022	177,835	99.4	%	4,190	24.04	Publix	Planet Fitness, The Paper Store	—
97	Mansell Crossing	Alpharetta	GA	Atlanta-Sandy Springs-Roswell, GA	1993	291,622	98.0	%	4,683	22.32	—	Barnes & Noble, Cooper's Hawk Winery & Restaurant, DSW, Macy's Furniture Gallery, REI, T.J.Maxx	Burlington Stores, HomeGoods, Michaels, Ross Dress for Less, Studio Movie Grill
98	Northeast Plaza	Atlanta	GA	Atlanta-Sandy Springs-Roswell, GA	1952	422,609	93.7	%	6,038	15.50	City Farmers Market	Burlington Stores, dd's Discounts (Ross), Dollar General, Dollar Tree, Goodwill, NCG Cinemas, Octapharma	—
99	Sweetwater Village	Austell	GA	Atlanta-Sandy Springs-Roswell, GA	1985	66,197	96.0	%	566	8.91	Food Depot	Dollar Tree	—
100	Vineyards at Chateau Elan	Braselton	GA	Atlanta-Sandy Springs-Roswell, GA	2002	79,047	96.6	%	1,317	17.25	—	—	—
101	Salem Road Station	Covington	GA	Atlanta-Sandy Springs-Roswell, GA	2000	67,270	100.0	%	892	13.26	Publix	—	—
102	Keith Bridge Commons	Cumming	GA	Atlanta-Sandy Springs-Roswell, GA	2002	94,886	97.4	%	1,450	15.69	Kroger	—	—
103	Cosby Station	Douglasville	GA	Atlanta-Sandy Springs-Roswell, GA	1994	77,811	95.7	%	919	12.35	Publix	—	—
104	Park Plaza	Douglasville	GA	Atlanta-Sandy Springs-Roswell, GA	1986	46,670	83.7	%	815	20.95	Kroger*	—	—


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 38


PROPERTY LIST													↩ Table of Contents
Dollars in thousands, except per square foot amounts
					Year		Percent						Non-Owned
	Property Name	City	State	Core-Based Statistical Area	Built	GLA	Leased		ABR	ABR PSF	Grocer (1) (4)	Other Major Tenants (4)	Major Tenants

105	Banks Station	Fayetteville	GA	Atlanta-Sandy Springs-Roswell, GA	2006	178,871	93.3	%	1,633	11.33	Food Depot	Staples	—
106	Barrett Place	Kennesaw	GA	Atlanta-Sandy Springs-Roswell, GA	1992	220,787	100.0	%	3,235	15.19	ALDI	Best Buy, Michaels, Nordstrom Rack, PetSmart	—
107	Shops of Huntcrest	Lawrenceville	GA	Atlanta-Sandy Springs-Roswell, GA	2003	97,040	100.0	%	1,528	15.75	Publix	—	—
108	Mableton Walk	Mableton	GA	Atlanta-Sandy Springs-Roswell, GA	1994	105,884	89.8	%	1,509	15.87	Publix	—	—
109	The Village at Mableton	Mableton	GA	Atlanta-Sandy Springs-Roswell, GA	2023	221,201	96.2	%	2,595	12.20	—	Burlington Stores, DashMart, dd's Discounts (Ross), Dollar Tree, Five Below, Michaels, Ollie's Bargain Outlet, Planet Fitness, Ross Dress for Less	—
110	Eastlake Plaza	Marietta	GA	Atlanta-Sandy Springs-Roswell, GA	1982	56,176	100.0	%	1,070	19.46	—	Crunch Fitness	—
111	New Chastain Corners	Marietta	GA	Atlanta-Sandy Springs-Roswell, GA	2004	113,079	92.1	%	1,392	13.36	Kroger	—	—
112	Pavilions at Eastlake	Marietta	GA	Atlanta-Sandy Springs-Roswell, GA	1996	144,351	93.9	%	2,274	16.78	Kroger	—	—
113	ConneXion	Roswell	GA	Atlanta-Sandy Springs-Roswell, GA	2016	107,355	93.6	%	2,173	21.63	—	Planet Fitness	—
114	Holcomb Bridge Crossing	Roswell	GA	Atlanta-Sandy Springs-Roswell, GA	1988	93,420	100.0	%	1,128	12.07	—	PGA TOUR Superstore	—
115	Kings Market	Roswell	GA	Atlanta-Sandy Springs-Roswell, GA	2005	275,244	98.0	%	3,533	13.10	Publix	Ace Pickleball Club, Frontgate, Sky Zone	—
116	Victory Square	Savannah	GA	Savannah, GA	2007	113,217	98.6	%	1,880	16.84	SuperTarget*	Citi Trends, Dollar Tree, NCG Cinemas, Staples	The Home Depot
117	Stockbridge Village	Stockbridge	GA	Atlanta-Sandy Springs-Roswell, GA	2008	184,185	100.0	%	3,548	19.26	Kroger	DaVita Dialysis	—
118	Wilmington Island	Wilmington Island	GA	Savannah, GA	1985	101,462	97.1	%	1,207	12.25	Kroger	—	—
119	Annex of Arlington	Arlington Heights	IL	Chicago-Naperville-Elgin, IL-IN	1999	199,663	95.8	%	4,191	21.92	Trader Joe's	Binny's Beverage Depot, Chuck E. Cheese, Dollar Tree, Kirkland's, Petco, Ulta	—
120	Ridge Plaza	Arlington Heights	IL	Chicago-Naperville-Elgin, IL-IN	2000	151,643	96.0	%	2,708	18.59	Swadeshi	Harbor Freight Tools, Slick City	Kohl's
121	Southfield Plaza	Bridgeview	IL	Chicago-Naperville-Elgin, IL-IN	2006	196,445	99.5	%	2,588	13.24	Shop & Save Market (Albertsons)	Hobby Lobby, Octapharma, Planet Fitness, Walgreens	—
122	Commons of Chicago Ridge	Chicago Ridge	IL	Chicago-Naperville-Elgin, IL-IN	1998	211,105	97.1	%	2,989	16.37	—	Discovery Clothing, Dollar Tree, KPot Korean BBQ & Hot Pot, Marshalls, Pep Boys, Ross Dress for Less, Shoe Carnival, XSport Fitness	The Home Depot
123	Rivercrest Shopping Center	Crestwood	IL	Chicago-Naperville-Elgin, IL-IN	1992	537,964	93.2	%	5,918	12.53	Tony's Fresh Market (Heritage Grocers)	AMC, Burlington Stores, Dollar Tree, Hollywood Park, National Tire & Battery, OfficeMax, PetSmart, Planet Fitness, Ross Dress for Less, Skechers, The Collective	—
124	The Commons of Crystal Lake	Crystal Lake	IL	Chicago-Naperville-Elgin, IL-IN	1987	273,060	80.1	%	2,904	13.28	Jewel-Osco (Albertsons)	Harbor Freight Tools, VASA Fitness	Hobby Lobby
125	Elmhurst Crossing	Elmhurst	IL	Chicago-Naperville-Elgin, IL-IN	2005	347,503	100.0	%	5,204	14.98	Whole Foods Market (Amazon)	At Home, Five Below, Kohl's, Petco, Shoe Carnival	—
126	The Quentin Collection	Kildeer	IL	Chicago-Naperville-Elgin, IL-IN	2006	171,530	79.5	%	2,061	15.12	—	Bear Paddle Swim School, Lava Island, Painted Tree Marketplace	—
127	Butterfield Square	Libertyville	IL	Chicago-Naperville-Elgin, IL-IN	1997	106,683	84.5	%	1,451	16.10	Sunset Foods	—	—
128	High Point Centre	Lombard	IL	Chicago-Naperville-Elgin, IL-IN	2019	240,345	70.1	%	2,593	15.40	—	Altitude Trampoline Park, LA Fitness, Staxx Furniture	—
129	Long Meadow Commons	Mundelein	IL	Chicago-Naperville-Elgin, IL-IN	1997	118,281	93.8	%	1,819	17.30	Jewel-Osco (Albertsons)	Planet Fitness	—
130	Westridge Court / Block 59 (2) (3)	Naperville	IL	Chicago-Naperville-Elgin, IL-IN	2026	533,806	93.8	%	11,427	24.38	—	DICK’S Sporting Goods Warehouse Sale, Discovery Clothing, Edge Fitness, Five Below, Funtopia USA, La-Z-Boy Furniture, Painted Tree Marketplace, Star Cinema Grille, Ulta, Wayfair Outlet, World Market	—
131	North Riverside Plaza	North Riverside	IL	Chicago-Naperville-Elgin, IL-IN	2007	387,873	96.9	%	4,813	12.81	Amazon Fresh	Best Buy, Burlington Stores, Kohl's, Michaels, Petco, Ulta	—
132	Ravinia Plaza	Orland Park	IL	Chicago-Naperville-Elgin, IL-IN	1990	102,289	94.5	%	2,225	23.02	Whole Foods Market (Amazon)	Skechers	—
133	Tinley Park Plaza (3)	Tinley Park	IL	Chicago-Naperville-Elgin, IL-IN	2026	246,563	94.0	%	4,093	18.03	Amazon Fresh	Burlington Stores, Dollar Tree, Planet Fitness, Ross Dress for Less, The Tile Shop	—
134	Meridian Village	Carmel	IN	Indianapolis-Carmel-Greenwood, IN	1990	130,431	97.7	%	1,493	11.72	—	Ollie's Bargain Outlet	—
135	Columbus Center	Columbus	IN	Columbus, IN	1964	143,740	98.1	%	2,299	16.31	—	Burlington Stores, Five Below, HomeGoods, T.J.Maxx	Target
136	Speedway Super Center	Speedway	IN	Indianapolis-Carmel-Greenwood, IN	2022	579,129	90.8	%	7,115	13.86	Kroger	Aaron's, Burlington Stores, Dollar Tree, Empire Beauty School, Harbor Freight Tools, HealthNet, Indiana Bureau of Motor Vehicles, Kohl's, Mattress Firm, Oak Street Health, Petco, pOpshelf, Ross Dress for Less, T.J.Maxx	—
137	Sagamore Park Centre	West Lafayette	IN	Lafayette-West Lafayette, IN	2018	132,027	100.0	%	1,540	11.66	Pay Less (Kroger)	—	—
138	West Loop Shopping Center	Manhattan	KS	Manhattan, KS	2013	214,898	94.4	%	2,076	16.97	Dillons (Kroger)	Good Deal Charlie's Furniture, Marshalls	—


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 39


PROPERTY LIST													↩ Table of Contents
Dollars in thousands, except per square foot amounts
					Year		Percent						Non-Owned
	Property Name	City	State	Core-Based Statistical Area	Built	GLA	Leased		ABR	ABR PSF	Grocer (1) (4)	Other Major Tenants (4)	Major Tenants

139	Florence Plaza - Florence Square (2)	Florence	KY	Cincinnati, OH-KY-IN	2014	679,639	99.6	%	9,621	17.91	Kroger	Aaron's, Barnes & Noble, Bob's Discount Furniture, Boot Barn, Burlington Stores, Chuck E. Cheese, Five Below, Harbor Freight Tools, Hobby Lobby, HomeGoods, KPot Korean BBQ & Hot Pot, Old Navy, Ollie's Bargain Outlet, Ross Dress for Less, Shoe Carnival, Sierra Trading Post, Staples, T.J.Maxx, Ulta	—
140	Jeffersontown Commons	Jeffersontown	KY	Louisville/Jefferson County, KY-IN	1959	205,888	100.0	%	2,070	10.57	—	Ace Pickleball Club, CVS, Dollar Tree, Tractor Supply Co.	—
141	London Marketplace	London	KY	Corbin, KY	1994	166,026	99.0	%	1,640	9.97	Kroger	bealls, Kohl's, Marshalls, Planet Fitness	—
142	Eastgate Shopping Center	Louisville	KY	Louisville/Jefferson County, KY-IN	2002	174,842	98.6	%	2,234	12.96	Kroger	Petco	—
143	Plainview Village	Louisville	KY	Louisville/Jefferson County, KY-IN	1997	157,747	96.1	%	1,936	13.44	Kroger	Anytime Fitness	—
144	Stony Brook I & II	Louisville	KY	Louisville/Jefferson County, KY-IN	1988	158,940	100.0	%	2,162	13.60	Kroger Marketplace	—	—
145	Acton Plaza	Acton	MA	Boston-Cambridge-Newton, MA-NH	1972	137,572	97.8	%	2,728	20.27	Roche Bros	T.J.Maxx/HomeGoods	—
146	Points West Plaza	Brockton	MA	Boston-Cambridge-Newton, MA-NH	1960	140,488	93.2	%	1,191	9.10	America's Food Basket	Citi Trends, Crunch Fitness	—
147	Burlington Square I, II & III	Burlington	MA	Boston-Cambridge-Newton, MA-NH	2025	79,430	96.9	%	2,819	36.64	—	Staples	Duluth Trading Co.
148	Holyoke Shopping Center	Holyoke	MA	Springfield, MA	2000	195,995	89.5	%	1,772	15.18	Super Stop & Shop (Ahold Delhaize)	Ocean State Job Lot	—
149	WaterTower Plaza	Leominster	MA	Worcester, MA	2025	295,840	99.0	%	4,321	15.02	TBA	Barnes & Noble, Five Below, Michaels, Ocean State Job Lot, Petco, Staples, T.J.Maxx, The Paper Store	—
150	Lunenburg Crossing	Lunenburg	MA	Worcester, MA	1994	25,515	66.6	%	269	15.82	Hannaford Bros.*	—	Walmart
151	Lynn Marketplace	Lynn	MA	Boston-Cambridge-Newton, MA-NH	1968	80,625	100.0	%	1,873	23.23	Stop And Compare	Crunch Fitness	—
152	Webster Square	Marshfield	MA	Boston-Cambridge-Newton, MA-NH	2005	182,756	94.3	%	2,926	16.97	Star Market (Albertsons)	Marshalls/HomeGoods, Ocean State Job Lot	—
153	Berkshire Crossing	Pittsfield	MA	Pittsfield, MA	1994	188,493	99.1	%	3,161	16.93	Market 32 (Northeast Grocery)	Barnes & Noble, Burlington Stores, Michaels, Ulta	The Home Depot, Walmart
154	Westgate Plaza	Westfield	MA	Springfield, MA	1996	125,403	96.4	%	1,704	17.37	ALDI	Ocean State Job Lot, PetSmart, T.J.Maxx	—
155	Perkins Farm Marketplace	Worcester	MA	Worcester, MA	1967	205,048	98.8	%	2,615	20.58	Super Stop & Shop (Ahold Delhaize)	Citi Trends, Crunch Fitness, Ollie's Bargain Outlet	—
156	South Plaza Shopping Center	California	MD	Lexington Park, MD	2005	92,335	100.0	%	1,868	20.23	—	Best Buy, Old Navy, Petco, Ross Dress for Less	—
157	Fox Run	Prince Frederick	MD	Washington-Arlington-Alexandria, DC-VA-MD-WV	2022	279,642	78.0	%	3,765	17.54	Giant Food (Ahold Delhaize)	Planet Fitness, Ross Dress for Less, Ulta, Z&R Furniture	—
158	Pine Tree Shopping Center	Portland	ME	Portland-South Portland, ME	1958	287,459	100.0	%	2,362	19.84	ALDI	Crunch Fitness, Dollar Tree, Lowe's, O'Reilly Auto Parts	—
159	Arborland Center	Ann Arbor	MI	Ann Arbor, MI	2000	403,536	100.0	%	7,916	19.89	Kroger	Boot Barn, DSW, HomeGoods, Marshalls, Michaels, Nordstrom Rack, OfficeMax, Old Navy, Petco, Ross Dress for Less, Skechers, Ulta	—
160	Huron Village	Ann Arbor	MI	Ann Arbor, MI	2003	118,482	99.1	%	3,026	26.85	Whole Foods Market (Amazon)	Barnes & Noble, Walgreens	—
161	Maple Village	Ann Arbor	MI	Ann Arbor, MI	2020	297,425	97.3	%	5,234	18.09	Plum Market	Burlington Stores, Dunham's Sports, HomeGoods, LA Fitness, Sierra Trading Post, Ulta	—
162	Grand Crossing	Brighton	MI	Detroit-Warren-Dearborn, MI	2005	85,389	92.8	%	1,045	13.19	Busch’s Fresh Food Market	Ace Hardware	—
163	Farmington Crossroads	Farmington	MI	Detroit-Warren-Dearborn, MI	1986	85,168	100.0	%	1,063	12.48	—	Ollie's Bargain Outlet, True Value	—
164	Silver Pointe Shopping Center (2)	Fenton	MI	Flint, MI	1996	164,632	100.0	%	2,342	14.32	VG's Grocery (C&S Wholesale Grocers, LLC)	Dunham's Sports	Five Below, Michaels, Old Navy, T.J.Maxx
165	Delta Center	Lansing	MI	Lansing-East Lansing, MI	1985	160,946	100.0	%	1,781	11.07	—	DICK’S Sporting Goods Warehouse Sale, Dollar Tree, DXL Destination XL, Funcity Adventure Park, Planet Fitness	—
166	Lakes Crossing	Muskegon	MI	Muskegon-Norton Shores, MI	2008	104,600	46.2	%	836	17.31	—	Shoe Carnival, Ulta	—
167	Redford Plaza	Redford	MI	Detroit-Warren-Dearborn, MI	1992	308,078	95.4	%	3,830	13.20	Sun Valley Supermarket	Aaron's, Burlington Stores, Citi Trends, Dollar Tree, Harbor Freight Tools, Octapharma, Ross Dress for less	—
168	Hampton Village Centre	Rochester Hills	MI	Detroit-Warren-Dearborn, MI	2004	470,768	97.5	%	7,489	21.62	TBA	Barnes & Noble, DSW, Emagine Theatre, Harbor Freight Tools, Kohl's, Old Navy, Petco, T.J.Maxx, Ulta	Target
169	Southfield Plaza	Southfield	MI	Detroit-Warren-Dearborn, MI	1970	101,781	100.0	%	1,234	12.12	—	Citi Trends, Planet Fitness	Burlington Stores, Forman Mills
170	Delco Plaza	Sterling Heights	MI	Detroit-Warren-Dearborn, MI	1996	154,853	100.0	%	1,217	7.86	—	Dunham's Sports, Tractor Supply Co., Urban Air Adventure Park	—
171	West Ridge	Westland	MI	Detroit-Warren-Dearborn, MI	1989	160,091	100.0	%	1,967	12.29	—	Crunch Fitness, Petco, Rally House, Ross Dress for Less	Burlington Stores, Target
172	Washtenaw Fountain Plaza	Ypsilanti	MI	Ann Arbor, MI	2005	122,762	97.0	%	1,194	10.03	Save-A-Lot (Rabban Brothers)	Dollar Tree, Planet Fitness, Urban Air Adventure Park	—


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 40


PROPERTY LIST													↩ Table of Contents
Dollars in thousands, except per square foot amounts
					Year		Percent						Non-Owned
	Property Name	City	State	Core-Based Statistical Area	Built	GLA	Leased		ABR	ABR PSF	Grocer (1) (4)	Other Major Tenants (4)	Major Tenants

173	Southport Centre I - VI	Apple Valley	MN	Minneapolis-St. Paul-Bloomington, MN-WI	1985	124,260	100.0	%	2,758	22.20	SuperTarget*	Dollar Tree, O'Reilly Auto Parts, Walgreens	—
174	Champlin Marketplace	Champlin	MN	Minneapolis-St. Paul-Bloomington, MN-WI	2005	91,970	100.0	%	1,372	15.49	Cub Foods (United Natural Foods Inc.)	—	—
175	Burning Tree Plaza	Duluth	MN	Duluth, MN-WI	1987	183,105	93.0	%	2,541	14.93	—	Best Buy, Dollar Tree, Harbor Freight Tools, HomeGoods, Sierra Trading Post, T.J.Maxx	—
176	Westwind Plaza	Minnetonka	MN	Minneapolis-St. Paul-Bloomington, MN-WI	2007	91,670	98.6	%	2,282	26.27	Cub Foods*	Ablelight Thrift, MGM Wine and Spirits	—
177	Richfield Hub	Richfield	MN	Minneapolis-St. Paul-Bloomington, MN-WI	1952	213,595	95.7	%	2,754	13.47	Loma Bonita Market	Dollar Tree, Marshalls, Michaels, Walgreens	—
178	Roseville Center	Roseville	MN	Minneapolis-St. Paul-Bloomington, MN-WI	2021	82,576	98.8	%	1,182	20.73	ALDI, Cub Foods*	Dollar Tree	—
179	Marketplace @ 42	Savage	MN	Minneapolis-St. Paul-Bloomington, MN-WI	1999	118,693	97.0	%	2,051	17.81	Fresh Thyme Farmers Market (Meijer)	Dollar Tree, Marshalls	—
180	Sun Ray Shopping Center	St. Paul	MN	Minneapolis-St. Paul-Bloomington, MN-WI	1958	290,813	86.9	%	2,790	14.94	Cub Foods (United Natural Foods Inc.)	BioLife Plasma Services, Burlington Stores, Citi Trends, Dollar Tree, Five Below, Planet Fitness, Ross Dress for Less	—
181	White Bear Hills Shopping Center	White Bear Lake	MN	Minneapolis-St. Paul-Bloomington, MN-WI	1996	73,065	100.0	%	1,150	15.74	Festival Foods (Schnucks)	Dollar Tree	—
182	Ellisville Square	Ellisville	MO	St. Louis, MO-IL	1989	137,408	69.6	%	1,387	15.01	ALDI	Chuck E. Cheese, Michaels, Petco	—
183	Watts Mill Plaza	Kansas City	MO	Kansas City, MO-KS	1997	161,717	98.5	%	1,618	10.16	Price Chopper (Associated Wholesale)	Fowling Warehouse	—
184	Liberty Corners	Liberty	MO	Kansas City, MO-KS	1987	124,808	96.6	%	1,286	10.66	Price Chopper (Cosentino Group)	—	—
185	Devonshire Place	Cary	NC	Raleigh-Cary, NC	1996	106,680	100.0	%	1,706	16.34	—	Burlington Stores, Dollar Tree, Harbor Freight Tools, REI	—
186	McMullen Creek Market	Charlotte	NC	Charlotte-Concord-Gastonia, NC-SC	1988	285,584	94.2	%	4,789	17.80	Walmart Neighborhood Market	Burlington Stores, Dollar Tree, pOpshelf, Staples	—
187	The Commons at Chancellor Park	Charlotte	NC	Charlotte-Concord-Gastonia, NC-SC	1994	348,604	100.0	%	2,628	10.82	Patel Brothers	Big Air Trampoline, Bob's Discount Furniture, Dollar Tree, Gabe's, The Home Depot, Tokyo Grill and Supreme Buffet, Value City Furniture	—
188	Garner Towne Square	Garner	NC	Raleigh-Cary, NC	1997	184,267	98.7	%	2,952	16.23	LIDL	Boot Barn, Burlington Stores, Harbor Freight Tools, PetSmart	Target, The Home Depot
189	Franklin Square	Gastonia	NC	Charlotte-Concord-Gastonia, NC-SC	1989	317,824	95.6	%	4,460	15.07	Walmart Supercenter*	bealls, Best Buy, Boot Barn, Dollar Tree, Five Below, Michaels, pOpshelf, Ross Dress for Less	—
190	Wendover Place	Greensboro	NC	Greensboro-High Point, NC	2000	407,244	100.0	%	6,537	16.05	—	Burlington Stores, DICK'S Sporting Goods, Kohl's, Michaels, Old Navy, PetSmart, Ross Dress for Less, Shoe Carnival, Total Wine & More, Ulta, Wayfair Outlet	Target
191	University Commons	Greenville	NC	Greenville, NC	1996	233,153	100.0	%	3,727	15.99	Harris Teeter (Kroger)	Barnes & Noble, Five Below, HomeGoods, Petco, Shoe Carnival, T.J.Maxx	—
192	North Ridge Shopping Center	Raleigh	NC	Raleigh-Cary, NC	1980	171,372	99.2	%	3,342	19.66	Harris Teeter (Kroger)	Ace Hardware, O2 Fitness	—
193	Innes Street Market	Salisbury	NC	Charlotte-Concord-Gastonia, NC-SC	2002	349,425	98.1	%	4,390	12.81	Food Lion (Ahold Delhaize)	Lowe's, Marshalls, Old Navy, PetSmart, Staples, Tinseltown	—
194	New Centre Market	Wilmington	NC	Wilmington, NC	1998	144,614	100.0	%	2,366	16.91	—	Burlington Stores, Dollar Tree, PetSmart, Shoe Carnival, Sportsman's Warehouse	—
195	University Commons	Wilmington	NC	Wilmington, NC	2007	235,345	100.0	%	4,181	17.77	Lowes Foods (Alex Lee)	Dollar Tree, HomeGoods, Skechers, T.J.Maxx	—
196	Parkway Plaza	Winston-Salem	NC	Winston-Salem, NC	2005	279,630	74.0	%	2,811	14.48	Compare Foods	ArchWell Health, Citi Trends, Office Depot, O'Reilly Auto Parts	—
197	Stratford Commons	Winston-Salem	NC	Winston-Salem, NC	1995	72,308	83.8	%	929	15.34	CHEF'STORE (US Foods)	Boot Barn	—
198	Bedford Grove	Bedford	NH	Manchester-Nashua, NH	1989	103,076	100.0	%	2,399	24.56	—	Boston Interiors, Planet Fitness	—
199	Capitol Shopping Center	Concord	NH	Concord, NH	2001	196,542	79.1	%	2,843	19.56	Market Basket (DeMoulas Supermarkets)	Boot Barn, Burlington Stores, Five Below, Marshalls	—
200	Willow Springs Plaza	Nashua	NH	Manchester-Nashua, NH	1990	131,248	100.0	%	2,789	23.17	Patel Brothers	Jordan's Warehouse, Mavis Discount Tires, New Hampshire Liquor and Wine Outlet, Petco	The Home Depot
201	Tri-City Plaza	Somersworth	NH	Boston-Cambridge-Newton, MA-NH	1990	150,264	95.8	%	1,682	11.72	Market Basket (DeMoulas Supermarkets)	Staples, T.J.Maxx	—
202	Laurel Square	Brick	NJ	New York-Newark-Jersey City, NY-NJ	2023	246,254	100.0	%	2,912	11.83	Livoti’s Old World Market	Ashley Homestore, At Home, Dollar Tree, Planet Fitness, Senior Helpers Town Square	—
203	The Shoppes at Cinnaminson	Cinnaminson	NJ	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2010	301,206	100.0	%	5,306	25.77	ShopRite (Eickhoff Supermarkets)	Burlington Stores, Planet Fitness, Ross Dress for Less	—
204	Acme Clark	Clark	NJ	New York-Newark-Jersey City, NY-NJ	2007	52,812	100.0	%	1,465	27.74	Acme (Albertsons)	—	—


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 41


PROPERTY LIST													↩ Table of Contents
Dollars in thousands, except per square foot amounts
					Year		Percent						Non-Owned
	Property Name	City	State	Core-Based Statistical Area	Built	GLA	Leased		ABR	ABR PSF	Grocer (1) (4)	Other Major Tenants (4)	Major Tenants

205	Collegetown Shopping Center	Glassboro	NJ	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2021	231,464	100.0	%	3,603	15.75	LIDL	Esporta Fitness, Five Below, Pep Boys, Ross Dress for Less, Ulta	—
206	Hamilton Plaza	Hamilton	NJ	Trenton-Princeton, NJ	1972	149,993	100.0	%	2,294	15.29	Grocery Outlet	2nd Ave, Crab Du Jour, DaVita Dialysis, Planet Fitness, Rothman Orthopaedic Institute	—
207	Bennetts Mills Plaza	Jackson	NJ	New York-Newark-Jersey City, NY-NJ	2002	127,230	100.0	%	2,041	16.04	Gourmet Glatt	—	—
208	Marlton Crossing	Marlton	NJ	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2019	337,878	96.2	%	7,893	24.28	Sprouts Farmers Market	Arthur Murray Dance Studio, Burlington Stores, Chickie's & Pete's, DSW, HomeGoods, Michaels, T.J.Maxx	—
209	Middletown Plaza	Middletown	NJ	New York-Newark-Jersey City, NY-NJ	2024	201,568	58.7	%	3,222	27.22	Trader Joe's	Petco, Retro Fitness	—
210	Springfield Place	Morris	NJ	New York-Newark-Jersey City, NY-NJ	1965	4,000	100.0	%	267	66.75	ShopRite*	—	—
211	Larchmont Centre	Mount Laurel	NJ	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1985	103,787	100.0	%	1,579	32.44	ShopRite	—	—
212	Old Bridge Gateway	Old Bridge	NJ	New York-Newark-Jersey City, NY-NJ	2022	254,548	93.3	%	4,875	20.52	Bhavani Food Market, TBA	Dollar Tree, Marshalls, Pep Boys, Petco, Ross Dress for Less, Texas Roadhouse	—
213	Morris Hills Shopping Center	Parsippany	NJ	New York-Newark-Jersey City, NY-NJ	1994	159,561	62.8	%	1,240	12.37	—	—	—
214	Rio Grande Plaza	Rio Grande	NJ	Atlantic City-Hammonton, NJ	1997	136,351	100.0	%	1,908	13.99	ShopRite*	Burlington Stores, Dollar Tree, PetSmart, Planet Fitness, Skechers	—
215	Ocean Heights Plaza	Somers Point	NJ	Atlantic City-Hammonton, NJ	2006	179,179	100.0	%	3,801	21.21	ShopRite (Village Supermarket)	Staples	—
216	Tinton Falls Plaza	Tinton Falls	NJ	New York-Newark-Jersey City, NY-NJ	2006	87,760	100.0	%	1,721	19.61	Uncle Giuseppe's*	Crunch Fitness, Dollar Tree	—
217	Cross Keys Commons	Turnersville	NJ	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1989	216,205	99.2	%	3,990	18.60	Walmart Supercenter*	Marshalls, Ross Dress for Less, Staples, Ulta	—
218	Parkway Plaza	Carle Place	NY	New York-Newark-Jersey City, NY-NJ	1993	89,834	100.0	%	3,184	35.44	ALDI	T.J.Maxx	—
219	Suffolk Plaza	East Setauket	NY	New York-Newark-Jersey City, NY-NJ	1998	84,316	92.0	%	1,901	25.12	Amazon Fresh, BJ's Wholesale Club*	Five Below	Kohl's, Walmart
220	Three Village Shopping Center	East Setauket	NY	New York-Newark-Jersey City, NY-NJ	1991	77,458	36.1	%	1,268	45.31	Stop & Shop*	—	Walgreens
221	West Center	East Setauket	NY	New York-Newark-Jersey City, NY-NJ	1965	42,594	95.2	%	1,213	29.93	Wild by Nature Market (King Kullen)	—	—
222	Stewart Plaza	Garden City	NY	New York-Newark-Jersey City, NY-NJ	2022	217,893	100.0	%	4,494	20.62	—	Burlington Stores, Crazy Hot Deals, Dollar Tree, Floor & Décor, Phenix Salon Suites	—
223	Dalewood I, II & III Shopping Center (3)	Hartsdale	NY	New York-Newark-Jersey City, NY-NJ	2026	196,831	100.0	%	8,900	46.17	H Mart, Sprouts Farmers Market	Barnes & Noble, Best Buy, Boot Barn, GEN Korean BBQ House, T.J.Maxx, Ulta	—
224	Unity Plaza	Hopewell Junction	NY	Kiryas Joel-Poughkeepsie-Newburgh, NY	2005	67,462	100.0	%	1,484	22.00	Acme (Albertsons)	—	—
225	Cayuga Shopping Center	Ithaca	NY	Ithaca, NY	1969	204,405	71.1	%	1,864	12.82	ALDI	Planet Fitness, Ross Dress for Less, True Value, VA Community Based Outpatient	—
226	Kings Park Plaza	Kings Park	NY	New York-Newark-Jersey City, NY-NJ	1985	72,208	100.0	%	1,795	24.86	Key Food Marketplace	T.J.Maxx	—
227	Village Square Shopping Center	Larchmont	NY	New York-Newark-Jersey City, NY-NJ	1981	17,000	100.0	%	683	40.18	Trader Joe's	—	—
228	Falcaro's Plaza	Lawrence	NY	New York-Newark-Jersey City, NY-NJ	1972	61,904	95.6	%	1,573	26.58	KolSave Market*	Dollar Tree, Planet Fitness	—
229	Mamaroneck Centre	Mamaroneck	NY	New York-Newark-Jersey City, NY-NJ	2020	36,470	100.0	%	1,554	42.61	North Shore Farms	CVS	—
230	Sunshine Square	Medford	NY	New York-Newark-Jersey City, NY-NJ	2007	222,775	93.5	%	3,550	17.81	Super Stop & Shop (Ahold Delhaize)	Planet Fitness, Savers	—
231	Wallkill Plaza	Middletown	NY	Kiryas Joel-Poughkeepsie-Newburgh, NY	1986	211,736	98.9	%	2,269	12.47	—	Citi Trends, David's Bridal, Hobby Lobby	—
232	Monroe Plaza	Monroe	NY	Kiryas Joel-Poughkeepsie-Newburgh, NY	1985	122,007	90.7	%	2,025	18.29	ShopRite (Wakefern)	Crazy Hot Deals, U.S. Post Office	—
233	Rockland Plaza (3)	Nanuet	NY	New York-Newark-Jersey City, NY-NJ	2026	256,640	97.9	%	7,075	30.28	A Matter of Health	Barnes & Noble, Burlington Stores, Decor Home Furniture, Jembro, Ross Dress for Less, Ulta	—
234	North Ridge Shopping Center	New Rochelle	NY	New York-Newark-Jersey City, NY-NJ	1971	39,743	95.0	%	1,543	40.86	—	—	—
235	Nesconset Shopping Center	Port Jefferson Station	NY	New York-Newark-Jersey City, NY-NJ	1961	129,996	89.9	%	3,430	29.35	—	Dollar Tree, HomeGoods	—
236	Roanoke Plaza	Riverhead	NY	New York-Newark-Jersey City, NY-NJ	2002	99,131	93.6	%	2,275	24.51	Fine Fare	Boot Barn, CVS, Ross Dress for Less	—
237	The Shops at Riverhead	Riverhead	NY	New York-Newark-Jersey City, NY-NJ	2018	120,088	100.0	%	3,181	26.49	Costco*	HomeSense, Marshalls/HomeGoods, PetSmart, Ulta	—
238	Rockville Centre	Rockville Centre	NY	New York-Newark-Jersey City, NY-NJ	1975	44,131	85.0	%	1,200	31.97	—	HomeGoods	—
239	College Plaza	Selden	NY	New York-Newark-Jersey City, NY-NJ	2025	188,602	98.9	%	4,509	26.44	ShopRite (Wakefern)	Burlington Stores, Five Below, Wren Kitchens	—
240	Campus Plaza	Vestal	NY	Binghamton, NY	2003	160,744	99.5	%	2,211	13.82	—	Dollar Tree, Staples	—


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 42


PROPERTY LIST													↩ Table of Contents
Dollars in thousands, except per square foot amounts
					Year		Percent						Non-Owned
	Property Name	City	State	Core-Based Statistical Area	Built	GLA	Leased		ABR	ABR PSF	Grocer (1) (4)	Other Major Tenants (4)	Major Tenants

241	Parkway Plaza	Vestal	NY	Binghamton, NY	1995	207,123	100.0	%	2,577	12.44	—	Bob's Discount Furniture, Boot Barn, Kohl's, PetSmart, Ross Dress for Less	—
242	Shoppes at Vestal	Vestal	NY	Binghamton, NY	2000	92,328	100.0	%	1,726	18.69	—	HomeGoods, Michaels, Old Navy	—
243	Town Square (2)	Vestal	NY	Binghamton, NY	1991	290,535	96.2	%	5,210	19.00	Sam's Club, Walmart Supercenter	AMC, Barnes & Noble, Burlington Stores, DICK’S Sporting Goods Warehouse Sale, Dollar Tree, DSW, Shoe Carnival, T.J.Maxx, Ulta	—
244	Highridge Plaza	Yonkers	NY	New York-Newark-Jersey City, NY-NJ	1977	88,501	97.9	%	3,104	35.83	H Mart	—	—
245	Brunswick Town Center	Brunswick	OH	Cleveland, OH	2004	151,048	99.2	%	2,655	18.34	Giant Eagle	—	The Home Depot
246	Brentwood Plaza	Cincinnati	OH	Cincinnati, OH-KY-IN	2004	227,738	100.0	%	3,017	19.56	Kroger	Ace Hardware, Petco, Planet Fitness, Rainbow Shops	—
247	Delhi Shopping Center	Cincinnati	OH	Cincinnati, OH-KY-IN	1973	167,328	99.3	%	1,677	10.18	Kroger	Pet Supplies Plus, Salvation Army	—
248	Harpers Station	Cincinnati	OH	Cincinnati, OH-KY-IN	1994	8,200	100.0	%	279	34.02	Fresh Thyme Farmers Market (Meijer)*	—	HomeGoods, Painted Tree Marketplace, T.J.Maxx
249	Western Hills Plaza	Cincinnati	OH	Cincinnati, OH-KY-IN	2021	242,735	98.4	%	5,279	22.91	—	Dollar Tree, Michaels, Old Navy, PetSmart, Ross Dress For Less, T.J.Maxx, Ulta	Target
250	Western Village	Cincinnati	OH	Cincinnati, OH-KY-IN	2005	115,791	100.0	%	1,443	41.06	Kroger	—	—
251	Crown Point	Columbus	OH	Columbus, OH	1980	145,280	100.0	%	1,617	11.16	Kroger	Dollar Tree, Planet Fitness	—
252	Greentree Shopping Center	Columbus	OH	Columbus, OH	2005	131,720	91.8	%	1,534	13.59	Kroger	—	—
253	South Towne Centre	Dayton	OH	Dayton-Kettering-Beavercreek, OH	1972	333,998	70.5	%	3,443	15.10	Health Foods Unlimited	Burlington Stores, PetSmart	—
254	Southland Shopping Center	Middleburg Heights	OH	Cleveland, OH	1951	421,977	81.2	%	5,027	14.67	Giant Eagle, Marc's, BJ's Wholesale Club*	Crunch Fitness, Dollar Tree, Five Below, Marshalls, OfficeMax, Petco	—
255	The Shoppes at North Olmsted	North Olmsted	OH	Cleveland, OH	2002	70,003	100.0	%	1,236	17.66	—	Ollie's Bargain Outlet	—
256	Surrey Square	Norwood	OH	Cincinnati, OH-KY-IN	2010	175,140	100.0	%	2,695	29.67	Kroger	Advance Auto Parts, Rainbow Shops	—
257	Miracle Mile Shopping Plaza	Toledo	OH	Toledo, OH	1955	298,765	88.9	%	2,121	13.55	Kroger	Crunch Fitness, Dollar General, Fun City Us, Harbor Freight Tools	—
258	Village West	Allentown	PA	Allentown-Bethlehem-Easton, PA-NJ	1999	140,474	98.7	%	2,985	21.53	Giant Food (Ahold Delhaize)	CVS	—
259	Park Hills Plaza	Altoona	PA	Altoona, PA	1985	9,894	100.0	%	391	39.52	Weis Markets*	—	Burlington Stores, Dunham's Sports, Harbor Freight Tools, Shoe Carnival, Urban Air Adventure Park
260	Lehigh Shopping Center	Bethlehem	PA	Allentown-Bethlehem-Easton, PA-NJ	1955	373,766	100.0	%	4,690	15.03	Giant Food (Ahold Delhaize)	Citi Trends, Decor Home Furniture, Marshalls/HomeGoods, PetSmart, Powerhouse Gym, Savers, Staples	—
261	Bristol Park	Bristol	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1993	266,953	98.4	%	3,227	12.60	—	Ollie's Bargain Outlet, Planet Fitness	—
262	New Britain Village Square	Chalfont	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1989	143,716	97.8	%	2,922	21.47	Giant Food (Ahold Delhaize)	Wine & Spirits Shoppe	—
263	Collegeville Shopping Center	Collegeville	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2020	101,630	92.8	%	2,145	23.48	Kimberton Whole Foods	Planet Fitness	—
264	Plymouth Square Shopping Center	Conshohocken	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2024	227,216	94.6	%	5,184	24.12	Weis Markets	Planet Fitness, REI, Wren Kitchens	—
265	Whitemarsh Shopping Center	Conshohocken	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2002	76,391	97.8	%	2,203	29.49	Giant Food (Ahold Delhaize)	—	—
266	Valley Fair	Devon	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2001	45,086	82.8	%	623	16.70	Hung Vuong Food Market*	Planet Fitness	—
267	Dickson City Crossings	Dickson City	PA	Scranton--Wilkes-Barre, PA	2023	311,991	100.0	%	3,891	19.60	—	Barnes & Noble, Burlington Stores, Crazy Hot Deals, Dollar Tree, Gabe's, PetSmart, Sierra Trading Post, T.J.Maxx, The Home Depot	—
268	Barn Plaza (3)	Doylestown	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2026	212,083	100.0	%	5,362	25.28	Whole Foods Market (Amazon)	Barnes & Noble, Kohl's	—
269	Pilgrim Gardens	Drexel Hill	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1955	75,223	94.3	%	1,516	21.38	—	Ross Dress for Less	—
270	North Penn Market Place	Lansdale	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1977	58,358	100.0	%	1,176	21.48	Weis Markets*	DaVita Dialysis	—
271	Village at Newtown	Newtown	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2021	226,829	100.0	%	8,847	40.48	McCaffrey's	Ulta	—
272	Ivyridge	Philadelphia	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1963	106,348	100.0	%	3,195	30.04	—	Target	—
273	Roosevelt Mall	Philadelphia	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2024	609,521	96.3	%	11,621	42.91	Sprouts Farmers Market	JD Sports, LA Fitness, Macy's, Oak Street Health, Ross Dress for Less	—


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 43


PROPERTY LIST													↩ Table of Contents
Dollars in thousands, except per square foot amounts
					Year		Percent						Non-Owned
	Property Name	City	State	Core-Based Statistical Area	Built	GLA	Leased		ABR	ABR PSF	Grocer (1) (4)	Other Major Tenants (4)	Major Tenants

274	Shoppes at Valley Forge	Phoenixville	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2003	176,676	97.8	%	1,631	9.44	Redner's Warehouse Market	Decor Home Furniture, Ross Dress for Less	—
275	County Line Plaza	Souderton	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1971	154,608	100.0	%	1,880	12.16	ALDI	Dollar Tree, Five Below, Planet Fitness	—
276	69th Street Plaza	Upper Darby	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1994	41,711	100.0	%	508	12.18	Fresh Grocer*	—	—
277	Warminster Towne Center	Warminster	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1997	237,152	100.0	%	3,925	17.96	ShopRite (Wakefern)	Decor Home Furniture, Famous Footwear, Harbor Freight Tools, Old Navy, Pep Boys, PetSmart, Ross Dress for Less, Sportsman's Warehouse	Kohl's
278	Whitehall Square	Whitehall	PA	Allentown-Bethlehem-Easton, PA-NJ	2006	309,908	97.5	%	3,999	13.48	Redner's Warehouse Market	Dollar Tree, Gabe's, PetSmart, Pickleball Kingdom, Ross Dress for Less, Staples	—
279	Wilkes-Barre Township Marketplace	Wilkes-Barre Township	PA	Scranton--Wilkes-Barre, PA	2004	306,440	99.4	%	2,716	36.75	NetCost Market, Walmart Supercenter	Chuck E. Cheese, Cracker Barrel, Pet Supplies Plus	—
280	Belfair Towne Village	Bluffton	SC	Hilton Head Island-Bluffton-Port Royal, SC	2006	166,639	99.1	%	3,155	19.11	Kroger	—	—
281	Milestone Plaza	Greenville	SC	Greenville-Anderson-Greer, SC	1995	89,721	100.0	%	1,778	21.02	Lowes Foods (Alex Lee)	—	—
282	Circle Center (3)	Hilton Head Island	SC	Hilton Head Island-Bluffton-Port Royal, SC	2026	68,444	96.8	%	1,388	20.94	Publix	—	—
283	The Fresh Market Shoppes	Hilton Head Island	SC	Hilton Head Island-Bluffton-Port Royal, SC	1983	86,398	98.1	%	1,657	19.54	The Fresh Market	—	—
284	Island Plaza	James Island	SC	Charleston-North Charleston, SC	1994	174,094	98.6	%	1,918	11.32	Food Lion (Ahold Delhaize)	Dollar Tree, Gold's Gym, Harbor Freight Tools	—
285	Pawleys Island Plaza	Pawleys Island	SC	Murrells Inlet, SC	2015	120,453	97.7	%	1,836	15.60	Publix	Petco, T.J.Maxx, Ulta	—
286	Fairview Corners I & II	Simpsonville	SC	Greenville-Anderson-Greer, SC	2003	131,002	100.0	%	2,764	21.10	—	Petco, Ross Dress for Less, T.J.Maxx	Target
287	Hillcrest Market Place (3)	Spartanburg	SC	Spartanburg, SC	2026	376,624	95.4	%	5,356	15.26	Publix	Five Below, Hobby Lobby, Marshalls, NCG Cinemas, Petco, Ross Dress for Less	—
288	Watson Glen Shopping Center	Franklin	TN	Nashville-Davidson--Murfreesboro--Franklin, TN	1988	265,571	100.0	%	4,161	15.86	ALDI	At Home, HomeGoods	—
289	Williamson Square	Franklin	TN	Nashville-Davidson--Murfreesboro--Franklin, TN	1988	304,784	96.4	%	4,506	15.34	—	Dollar Tree, Family Leisure, Goldfish Swim School, Hobby Lobby, Painted Tree Marketplace, Planet Fitness	—
290	Kingston Overlook	Knoxville	TN	Knoxville, TN	1996	119,360	100.0	%	1,455	12.19	Sprouts Farmers Market	Painted Tree Marketplace, Urban Air Adventure Park	—
291	The Market at Wolfcreek (2)	Memphis	TN	Memphis, TN-MS-AR	2014	649,252	96.0	%	10,235	17.30	—	Academy Sports + Outdoors, Best Buy, Burlington Stores, Cavender's Boot City, Citi Trends, Crazy Hot Deals, Dave & Busters, David's Bridal, Dollar Tree, DSW, Good Deal Charlie's Furniture, Michaels, Office Depot, Old Navy, Painted Tree Marketplace, PetSmart, T.J.Maxx	—
292	Georgetown Square	Murfreesboro	TN	Nashville-Davidson--Murfreesboro--Franklin, TN	2003	114,117	92.3	%	1,582	15.01	Kroger	—	—
293	Nashboro Village	Nashville	TN	Nashville-Davidson--Murfreesboro--Franklin, TN	1998	86,811	95.2	%	1,089	13.18	Kroger	—	Walgreens
294	Parmer Crossing	Austin	TX	Austin-Round Rock-San Marcos, TX	1989	170,605	89.5	%	2,066	13.53	Desi Brothers	Crazy Hot Deals, Dollar Tree, Harbor Freight Tools, Planet Fitness	—
295	Baytown Shopping Center	Baytown	TX	Houston-Pasadena-The Woodlands, TX	1987	95,941	97.0	%	1,705	18.32	—	Goodwill, Sky Zone	—
296	El Camino	Bellaire	TX	Houston-Pasadena-The Woodlands, TX	2008	71,651	83.2	%	688	11.54	El Ahorro Supermarket	Dollar Tree	—
297	Central Station	College Station	TX	College Station-Bryan, TX	1976	178,141	98.5	%	3,690	21.52	—	Dollar Tree, HomeGoods, Spec's Liquors	Kohl's
298	Rock Prairie Crossing	College Station	TX	College Station-Bryan, TX	2002	118,700	97.7	%	1,515	30.37	Kroger	CVS	—
299	Carmel Village	Corpus Christi	TX	Corpus Christi, TX	2019	84,667	95.3	%	1,438	17.83	—	Crunch Fitness, Five Below	—
300	Arboretum Village	Dallas	TX	Dallas-Fort Worth-Arlington, TX	2014	95,354	97.4	%	2,619	28.19	Tom Thumb (Albertsons)	Ace Hardware, PetSmart	—
301	Claremont Village	Dallas	TX	Dallas-Fort Worth-Arlington, TX	1976	66,980	100.0	%	1,410	21.28	—	EōS Fitness	—
302	Kessler Plaza	Dallas	TX	Dallas-Fort Worth-Arlington, TX	1975	68,962	96.7	%	1,167	17.50	—	Wellmed Medical	—
303	Stevens Park Village	Dallas	TX	Dallas-Fort Worth-Arlington, TX	1974	45,492	93.8	%	448	10.50	—	Authentic Warehouse	—
304	Webb Royal Plaza	Dallas	TX	Dallas-Fort Worth-Arlington, TX	1961	108,545	90.7	%	1,369	14.58	El Rio Grande Latin Market	Family Dollar	—
305	Wynnewood Village (3)	Dallas	TX	Dallas-Fort Worth-Arlington, TX	2026	581,261	93.9	%	9,100	21.84	El Rancho (Heritage Grocers), Kroger	Burlington Stores, Citi Trends, Dollar Tree, Five Below, Foot Locker, Kids Empire, LA Fitness, Ross Dress for Less, Target	—
306	Parktown	Deer Park	TX	Houston-Pasadena-The Woodlands, TX	1999	118,221	100.0	%	1,299	10.99	Food Town	bealls, Walgreens	—
307	Ridglea Plaza	Fort Worth	TX	Dallas-Fort Worth-Arlington, TX	1990	170,519	98.1	%	2,807	16.79	Tom Thumb (Albertsons)	Dollar Tree, EōS Fitness, Goody Goody Wine & Spirits	—
308	Trinity Commons	Fort Worth	TX	Dallas-Fort Worth-Arlington, TX	1998	197,526	100.0	%	4,698	23.78	Tom Thumb (Albertsons)	DSW, Ulta	—


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 44


PROPERTY LIST													↩ Table of Contents
Dollars in thousands, except per square foot amounts
					Year		Percent						Non-Owned
	Property Name	City	State	Core-Based Statistical Area	Built	GLA	Leased		ABR	ABR PSF	Grocer (1) (4)	Other Major Tenants (4)	Major Tenants

309	Preston Ridge	Frisco	TX	Dallas-Fort Worth-Arlington, TX	2018	792,351	98.2	%	19,058	24.49	SuperTarget*	Belk, Best Buy, Boot Barn, Cloudbound, DSW, Half Price Books, Macy's Backstage, Marshalls, Nordstrom Rack, Old Navy, PetSmart, pOpshelf, Ross Dress for Less, Sky Zone, Staples, T.J.Maxx, Ulta	—
310	Village Plaza	Garland	TX	Dallas-Fort Worth-Arlington, TX	2002	89,444	100.0	%	1,719	19.32	Truong Nguyen Market	—	—
311	Highland Village Town Center	Highland Village	TX	Dallas-Fort Worth-Arlington, TX	1996	101,874	100.0	%	1,370	13.79	—	Painted Tree Marketplace, Planet Fitness	—
312	Bay Forest	Houston	TX	Houston-Pasadena-The Woodlands, TX	2004	76,092	100.0	%	863	12.48	Kroger	—	—
313	Braes Heights	Houston	TX	Houston-Pasadena-The Woodlands, TX	2022	92,703	99.4	%	3,154	34.22	—	CVS, My Salon Suites	—
314	Braesgate	Houston	TX	Houston-Pasadena-The Woodlands, TX	1997	91,982	100.0	%	793	8.62	Food Town	—	—
315	Broadway	Houston	TX	Houston-Pasadena-The Woodlands, TX	2006	74,988	100.0	%	1,050	14.55	El Ahorro Supermarket	Blink Fitness (Equinox), Melrose Fashions	—
316	Clear Lake Camino South	Houston	TX	Houston-Pasadena-The Woodlands, TX	1964	106,072	77.9	%	1,244	16.31	ALDI	Mr. Gatti's Pizza, Spec's Liquors	—
317	Hearthstone Corners	Houston	TX	Houston-Pasadena-The Woodlands, TX	2019	208,147	98.6	%	3,136	15.28	El Rancho (Heritage Grocers)	Amped Fitness, Sky Zone, XL Parts	—
318	Jester Village	Houston	TX	Houston-Pasadena-The Woodlands, TX	2022	62,731	99.0	%	1,532	24.66	—	24 Hour Fitness	—
319	Jones Plaza	Houston	TX	Houston-Pasadena-The Woodlands, TX	2025	111,206	88.5	%	1,203	12.22	La Michoacana Supermarket	Aaron's, Fitness Connection	—
320	Jones Square	Houston	TX	Houston-Pasadena-The Woodlands, TX	1999	169,786	100.0	%	2,102	12.38	—	Hobby Lobby, King Dollar, Octapharma, Walgreens	—
321	Maplewood	Houston	TX	Houston-Pasadena-The Woodlands, TX	2004	99,177	85.1	%	1,087	12.88	—	bealls, Kids Empire, Planet Fitness	—
322	Merchants Park	Houston	TX	Houston-Pasadena-The Woodlands, TX	2009	246,707	94.3	%	4,262	18.33	Kroger	JD Sports, Marshalls, Petco, Planet Fitness, Ross Dress for Less	—
323	Northshore (2)	Houston	TX	Houston-Pasadena-The Woodlands, TX	2001	231,640	78.2	%	3,304	18.58	El Rancho (Heritage Grocers)	Dollar Tree, Melrose Fashions, Nova Healthcare, Planet Fitness	—
324	Northtown Plaza	Houston	TX	Houston-Pasadena-The Woodlands, TX	1960	184,940	98.5	%	2,718	15.25	El Rancho (Heritage Grocers)	Crazy Boss Big Discount Store, dd's Discounts (Ross), Dollar Tree	—
325	Orange Grove	Houston	TX	Houston-Pasadena-The Woodlands, TX	2005	184,664	99.1	%	2,455	13.99	—	24 Hour Fitness, Burlington Stores, Floor & Décor, WSS	—
326	Royal Oaks Village	Houston	TX	Houston-Pasadena-The Woodlands, TX	2001	146,279	100.0	%	3,817	26.09	H-E-B	—	—
327	Tanglewilde Center	Houston	TX	Houston-Pasadena-The Woodlands, TX	1998	82,623	85.5	%	1,192	16.87	ALDI	Dollar Tree, WeGotSoccer	—
328	West U Marketplace	Houston	TX	Houston-Pasadena-The Woodlands, TX	2000	60,136	100.0	%	1,756	29.20	Whole Foods Market (Amazon)	—	—
329	Westheimer Commons	Houston	TX	Houston-Pasadena-The Woodlands, TX	1984	245,714	96.5	%	2,884	12.16	Fiesta Mart (Chedraui USA)	King Dollar, Marshalls, Rainbow Shops, Retro Fitness, Sanitas Medical Center, Walgreens	—
330	LaCenterra at Cinco Ranch	Katy	TX	Houston-Pasadena-The Woodlands, TX	2006	409,284	95.5	%	13,021	33.68	Trader Joe's	Alamo Drafthouse Cinema, Brown & Gay Engineers, Inc., Nike, Peloton Computer Enterprises, Regus	—
331	Spencer Square	Pasadena	TX	Houston-Pasadena-The Woodlands, TX	1998	181,888	95.1	%	2,121	12.26	Kroger	bealls, Octapharma, Petco, Retro Fitness	—
332	Pearland Plaza	Pearland	TX	Houston-Pasadena-The Woodlands, TX	1995	156,491	98.5	%	1,623	10.53	Kroger	Goodwill, Harbor Freight Tools, Walgreens	—
333	Market Plaza	Plano	TX	Dallas-Fort Worth-Arlington, TX	2002	152,500	91.7	%	3,002	22.33	Central Market (H-E-B)	—	—
334	Preston Park Village (3)	Plano	TX	Dallas-Fort Worth-Arlington, TX	2026	256,407	89.3	%	7,104	31.02	—	Gap Factory Store, HomeGoods, Petco, Slick City	—
335	Keegan's Meadow	Stafford	TX	Houston-Pasadena-The Woodlands, TX	1999	125,100	99.0	%	1,744	14.49	El Rancho	King Dollar, Retro Fitness	—
336	Lake Pointe Village	Sugar Land	TX	Houston-Pasadena-The Woodlands, TX	2010	162,263	96.7	%	4,964	31.64	Whole Foods Market (Amazon)	—	—
337	Texas City Bay	Texas City	TX	Houston-Pasadena-The Woodlands, TX	2005	224,884	94.2	%	2,579	12.36	Kroger	Burlington Stores, Five Below, Harbor Freight Tools, Planet Fitness	—
338	Windvale Center	The Woodlands	TX	Houston-Pasadena-The Woodlands, TX	2002	100,688	84.7	%	1,864	21.86	—	Tesla	—
339	Culpeper Town Square	Culpeper	VA	Washington-Arlington-Alexandria, DC-VA-MD-WV	1999	132,907	81.0	%	1,071	9.95	—	Goodwill, Ollie's Bargain Outlet, Tractor Supply Co.	—
340	Hanover Square	Mechanicsville	VA	Richmond, VA	1991	152,279	99.3	%	3,168	20.96	—	Gold's Gym, Hobby Lobby	Kohl's
341	Cave Spring Corners	Roanoke	VA	Roanoke, VA	2005	144,942	100.0	%	1,408	16.36	Kroger	Hamrick's	—
342	Hunting Hills	Roanoke	VA	Roanoke, VA	1989	166,207	100.0	%	1,608	9.67	—	Dollar Tree, Kohl's, PetSmart	—
343	Hilltop Plaza	Virginia Beach	VA	Virginia Beach-Chesapeake-Norfolk, VA-NC	2010	150,014	83.7	%	3,027	24.40	Trader Joe's	Five Below, PetSmart, Ulta	—
344	Rutland Plaza	Rutland	VT	Rutland, VT	1997	223,314	93.5	%	2,088	10.00	Market 32 (Northeast Grocery)	Planet Fitness, T.J.Maxx, Walmart	—
345	Mequon Pavilions	Mequon	WI	Milwaukee-Waukesha, WI	1967	218,392	92.4	%	3,722	18.45	Sendik's Food Market	Marshalls, Sierra Trading Post, The Tile Shop	—


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 45


PROPERTY LIST															↩ Table of Contents
Dollars in thousands, except per square foot amounts
					Year		Percent								Non-Owned
	Property Name	City	State	Core-Based Statistical Area	Built	GLA	Leased		ABR		ABR PSF		Grocer (1) (4)	Other Major Tenants (4)	Major Tenants

346	Moorland Square Shopping Ctr	New Berlin	WI	Milwaukee-Waukesha, WI	1990	98,303	98.6	%	1,063		10.97		Pick 'n Save (Kroger)	—	—
347	Paradise Pavilion	West Bend	WI	Milwaukee-Waukesha, WI	2000	204,074	93.5	%	1,688		8.87		—	Hobby Lobby, Kohl's	Five Below, HomeGoods, Sierra Trading Post
348	Grand Central Plaza	Parkersburg	WV	Parkersburg-Vienna, WV	1986	75,344	100.0	%	884		11.73		—	Best Buy, Sportsman's Warehouse	—



	TOTAL PORTFOLIO					62,684,741	95.1	%	$	1,049,958	$	18.77

(1) * Indicates grocer is not owned.
(2) Property is listed as two individual properties on Company website for marketing purposes.
(3) Indicates property is currently in redevelopment.
(4) Major Tenants exclude tenants that have ceased to operate prior to their lease expiration date.


Supplemental Disclosure - Three Months Ended December 31, 2025			Page 46

Source: View Original Filing on SEC EDGAR

FAQ

How did Brixmor Property Group Inc. (BRX) perform financially in 2025?

Brixmor’s 2025 net income attributable to common shareholders was $386.2 million, or $1.25 per diluted share, up from $339.3 million and $1.11 in 2024. Nareit FFO rose to $693.3 million, or $2.25 per diluted share, reflecting stronger property and leasing performance.

What were Brixmor’s key leasing and occupancy metrics for Q4 2025?

In Q4 2025, Brixmor executed 1.5 million square feet of new and renewal leases with rent spreads on comparable space of 24.2%. Total leased occupancy reached 95.1%, anchor leased occupancy 96.6%, and small shop leased occupancy a record 92.2%, supporting future rental income.

How did same property NOI trend for Brixmor (BRX) in 2025?

Same property NOI increased 6.0% for Q4 2025 versus Q4 2024 and 4.2% for the full year. Growth was driven mainly by higher base rent, which contributed 360 basis points to both Q4 and full-year performance, along with improved ancillary and other rental income.

What guidance did Brixmor provide for 2026 Nareit FFO and NOI growth?

For 2026, Brixmor expects Nareit FFO of $2.33–$2.37 per diluted share, up from $2.25 in 2025. The company also projects same property NOI growth of 4.50%–5.50%, excluding items affecting FFO comparability such as debt extinguishment gains or losses and transaction expenses.

What is Brixmor’s liquidity and leverage position at year-end 2025?

As of December 31, 2025, Brixmor had $1.6 billion in liquidity, including cash and undrawn revolver capacity. Net principal debt totaled about $5.16 billion, resulting in net principal debt to adjusted EBITDA of 5.4x on a current quarter annualized basis and 5.6x on a trailing twelve-month basis.

What capital deployment did Brixmor execute in 2025?

In 2025, Brixmor completed $416.8 million of acquisitions and $296.5 million of dispositions. It also stabilized $183.3 million of reinvestment projects at an average incremental NOI yield of 10%, and maintained an in-process reinvestment pipeline of $336.4 million at year-end.

What dividend did Brixmor Property Group declare for shareholders?

Brixmor’s Board declared a quarterly cash dividend of $0.3075 per common share, equivalent to $1.23 annually. The dividend is payable on April 15, 2026 to stockholders of record on April 2, 2026, representing a payout ratio of about 52.8% of Q4 Nareit FFO.

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Stronger 2025 results and 2026 FFO outlook for Brixmor (NYSE: BRX)

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FAQ

How did Brixmor Property Group Inc. (BRX) perform financially in 2025?

What were Brixmor’s key leasing and occupancy metrics for Q4 2025?

How did same property NOI trend for Brixmor (BRX) in 2025?

What guidance did Brixmor provide for 2026 Nareit FFO and NOI growth?

What is Brixmor’s liquidity and leverage position at year-end 2025?

What capital deployment did Brixmor execute in 2025?

What dividend did Brixmor Property Group declare for shareholders?

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Stronger 2025 results and 2026 FFO outlook for Brixmor (NYSE: BRX)

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REIT and income-investing analyst neutral

FAQ

How did Brixmor Property Group Inc. (BRX) perform financially in 2025?

What were Brixmor’s key leasing and occupancy metrics for Q4 2025?

How did same property NOI trend for Brixmor (BRX) in 2025?

What guidance did Brixmor provide for 2026 Nareit FFO and NOI growth?

What is Brixmor’s liquidity and leverage position at year-end 2025?

What capital deployment did Brixmor execute in 2025?

What dividend did Brixmor Property Group declare for shareholders?

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