CTO Realty Growth (NYSE: CTO) lifts 2026 guidance after Q1 gains and $81.6M deal

Rhea-AI Filing Summary

CTO Realty Growth, Inc. reported stronger first quarter 2026 results and raised its full-year outlook. Net income attributable to the company rose to $6.2 million, or $0.13 per diluted common share, up from $2.3 million, or $0.01, a year earlier.

Core Funds from Operations attributable to common stockholders increased to $16.9 million, or $0.52 per diluted share, compared with $14.4 million, or $0.46, while AFFO grew to $18.2 million, or $0.56 per diluted share, versus $15.5 million, or $0.49. Shopping center same-property NOI rose 6.8%, or 4.2% excluding non-recurring recovery benefits.

The company completed an $81.6 million acquisition of the 399,000 square foot Palms Crossing retail center in McAllen, Texas and saw full repayment of its $30.0 million Watters Creek preferred investment. A subsequent $75.0 million preferred equity investment in a Class A retail property carries a 12.0% initial cash yield and two-year term.

For 2026, CTO raised its Core FFO per diluted share guidance to $2.06–$2.11 from $1.98–$2.03 and increased AFFO guidance to $2.19–$2.24 from $2.11–$2.16. Planned 2026 investment volume was lifted to $175–$250 million from $100–$200 million, supported by a $6.2 million signed-not-open pipeline representing 5.5% of in-place cash ABR.

Positive

• Stronger earnings and cash flow: Q1 2026 Core FFO per diluted share rose to $0.52 from $0.46 and AFFO to $0.56 from $0.49, while net income attributable to the company increased to $6.2 million from $2.3 million, indicating meaningfully improved profitability.
• Raised 2026 outlook and larger investment plan: The company increased 2026 Core FFO guidance to $2.06–$2.11 per diluted share (from $1.98–$2.03) and expanded planned investment volume to $175–$250 million (from $100–$200 million), signaling greater expected growth activity.
• Accretive capital deployment: CTO completed an $81.6 million acquisition of Palms Crossing, fully exited a $30.0 million Watters Creek preferred investment, and committed $75.0 million of new preferred equity at a 12.0% initial cash yield, enhancing its income profile and core market footprint.

Negative

• None.

Insights

REIT and earnings analyst

CTO posts solid Q1 growth, executes major deals, and raises 2026 guidance.

CTO Realty Growth delivered higher profitability in Q1 2026, with net income attributable to the company rising to $6.2 million and Core FFO per diluted share improving to $0.52. AFFO per diluted share increased to $0.56, while shopping center same-property NOI advanced 6.8%, or 4.2% excluding non-recurring recovery benefits.

Strategically, the company acquired the 399,000 square foot Palms Crossing center in Texas for $81.6 million, received full repayment of its $30.0 million Watters Creek preferred investment, and subsequently deployed $75.0 million of preferred equity at a 12.0% initial cash yield on a two-year term. These moves recycle capital into higher-yielding assets while expanding presence in core markets.

The board’s confidence is reflected in raised 2026 guidance: Core FFO per diluted share now targeted at $2.06–$2.11 and AFFO at $2.19–$2.24, alongside increased planned investment volume of $175–$250 million. Future disclosures for periods after March 31, 2026 will show how leasing, the $6.2 million signed-not-open pipeline, and new investments translate into realized NOI growth.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net income attributable to the company: $6.2M Core FFO attributable to common stockholders: $16.9M AFFO attributable to common stockholders: $18.2M +5 more

8 metrics

Net income attributable to the company $6.2M Three months ended March 31, 2026

Core FFO attributable to common stockholders $16.9M Q1 2026 vs $14.4M in Q1 2025

AFFO attributable to common stockholders $18.2M Q1 2026 vs $15.5M in Q1 2025

Palms Crossing acquisition $81.6M 399,000 sq ft open-air retail center in McAllen, Texas

Preferred equity investment $75.0M at 12.0% yield Class A retail property in Southwest, two-year term, subsequent event on April 17, 2026

2026 Core FFO per share guidance $2.06–$2.11 Raised from $1.98–$2.03 per diluted common share

2026 investment volume guidance $175–$250M Including commercial loans and structured investments; previously $100–$200M

Net Debt to Pro Forma Adjusted EBITDA 6.4x Net debt $643.5M; Pro Forma Adjusted EBITDA $99.9M as of March 31, 2026

Key Terms

Core Funds from Operations, Adjusted Funds from Operations, Same-Property Net Operating Income, Pro Forma Adjusted EBITDA, +1 more

5 terms

Core Funds from Operations financial

"Core Funds from Operations (“Core FFO”) attributable to common stockholders of $0.52 per diluted share."

Core funds from operations is a measure of the recurring cash a real estate company generates from its normal rental and property-management activities, calculated by starting with net income, adding back non-cash items like property depreciation, and removing one-off gains or losses such as property sales or unusual expenses. Investors use it like a household’s steady paycheck estimate—it shows the business’s sustainable cash flow for paying dividends, servicing debt, and funding operations, without noise from one-time events.

Adjusted Funds from Operations financial

"Adjusted Funds from Operations (“AFFO”) attributable to common stockholders of $0.56 per diluted share."

Adjusted funds from operations is a financial measure that shows how much cash a real estate company generates from its property operations, excluding certain non-recurring items and accounting adjustments. It helps investors understand the company’s true cash flow ability to pay dividends or fund growth. This figure offers a clearer picture of ongoing financial performance by removing irregular or one-time factors that can distort regular income.

Same-Property Net Operating Income financial

"Shopping center same-property net operating income (“NOI”) increased by 6.8%."

Same-property net operating income is the rental income from properties owned throughout the entire comparison period minus the regular operating costs for those same properties, excluding effects from recent purchases, sales or major renovations. Investors use it like a "same-store sales" comparison to judge whether a real estate portfolio is growing revenue and controlling costs on a steady, apples‑to‑apples basis, rather than being boosted by new assets or one-off events.

Pro Forma Adjusted EBITDA financial

"Non-GAAP Financial Measures Pro Forma Earnings Before Interest, Taxes, Depreciation and Amortization (“Pro Forma Adjusted EBITDA”)"

Pro forma adjusted EBITDA is a customized profit measure that starts with earnings before interest, taxes, depreciation and amortization and then removes one-off, unusual or noncash items (and sometimes shows results under assumed changes like an acquisition or cost-cutting). Investors use it as a “cleaned-up” view of a company’s core cash-generating ability to compare performance and value businesses without short-term noise, but the exclusions can be selective so details matter.

signed-not-open pipeline financial

"driven by our $6.2 million SNO pipeline, which represents 5.5% of in-place cash ABR."

Earnings Snapshot

Total revenues: $41.2M · Guidance included

Q1 2026

Total revenues $41.2M vs $35.8M in Q1 2025

Net income attributable to the company $6.2M vs $2.3M in Q1 2025

Core FFO per share - diluted $0.52 vs $0.46 in Q1 2025

AFFO per share - diluted $0.56 vs $0.49 in Q1 2025

Shopping center same-property NOI growth 6.8% 4.2% excluding non-recurring recovery benefits vs comparable 2025 period

Guidance

For 2026, CTO raised Core FFO per diluted share guidance to $2.06–$2.11 and AFFO to $2.19–$2.24, and increased planned investment volume to $175–$250 million.

Understanding 8-K Material Events →

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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): April 28, 2026

CTO Realty Growth, Inc.

(Exact name of registrant as specified in its charter)

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Maryland (State or other jurisdiction of incorporation)	001-11350 (Commission File Number)	59-0483700 (IRS Employer Identification No.)
	369 N. New York Avenue, Suite 201 Winter Park, Florida (Address of principal executive offices)	32789 (Zip Code)

Registrant’s telephone number, including area code: (407) 904-3324

Not Applicable

(Former name or former address, if changed since last report.)

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:

☐ Written communications 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 communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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

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

.01
Title of each class:	​ ​ ​	Trading Symbol	​ ​ ​	Name of each exchange on which registered:
Common Stock, $0.01 par value per share		CTO		NYSE ​
6.375% Series A Cumulative Redeemable Preferred Stock, $0.01 par value per share	​	​ CTO/PA	​	​ NYSE

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

Emerging growth company ☐

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. ☐

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Item 2.02. Results of Operations and Financial Condition

On April 28, 2026, CTO Realty Growth, Inc., a Maryland corporation (the "Company"), issued an earnings press release, an investor presentation, and a supplemental disclosure package relating to the Company’s financial results for the quarter ended March 31, 2026. Copies of the press release, investor presentation, and supplemental disclosure package are attached hereto as Exhibits 99.1, 99.2 and 99.3, respectively, and are incorporated herein by reference.

The information in Item 2.02 of this Current Report, including Exhibits 99.1, 99.2 and 99.3, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, unless it is specifically incorporated by reference therein.

Item 7.01. Regulation FD Disclosure

On April 28, 2026, the Company issued an earnings press release, an investor presentation, and a supplemental disclosure package relating to the Company’s financial results for the quarter ended March 31, 2026. Copies of the earnings press release, investor presentation, and supplemental disclosure package are attached hereto as Exhibits 99.1, 99.2 and 99.3, respectively, and are incorporated herein by reference.

The furnishing of these materials is not intended to constitute a representation that such furnishing is required by Regulation FD or other securities laws, or that the materials include material investor information that is not otherwise publicly available. In addition, the Company does not assume any obligation to update such information in the future.

The information in Item 7.01 of this Current Report, including Exhibits 99.1, 99.2 and 99.3, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act or the Exchange Act, unless it is specifically incorporated by reference therein.

Item 9.01. Financial Statements and Exhibits

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(d) Exhibits

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99.1 Earnings Press Release dated April 28, 2026

99.2 Investor Presentation dated April 28, 2026

99.3 Supplemental Disclosure Package

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

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SIGNATURES

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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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Date: April 28, 2026

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CTO Realty Growth, Inc.

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By: /s/ Philip R. Mays

Senior Vice President, Chief Financial Officer,

and Treasurer (Principal Financial Officer)

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Exhibit 99.1

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DRAFT DRATDDD

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Press Release

​ ​ ​		First 2024 Operating Results ​
FOR IMMEDIATE RELEASE	​ CTO Realty Growth Reports First Quarter 2026 Operating and Financial Results ​ – Completed an $81.6 Million Acquisition – – $6.2 Million Signed-Not-Open Pipeline at Quarter-End – – Raises 2026 Investment Guidance to $175 Million to $250 Million – – Increases 2026 Core FFO Per Diluted Share Guidance to $2.06 to $2.11 – ​

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WINTER PARK, FL – April 28, 2026 – CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”), an owner and operator of shopping centers located primarily in higher-growth markets, today announced its operating and financial results for the quarter ended March 31, 2026. Net Income attributable to common stockholders was $0.13 per diluted share for the first quarter.

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First Quarter 2026 Highlights

◾Core Funds from Operations (“Core FFO”) attributable to common stockholders of $0.52 per diluted share.

◾Adjusted Funds from Operations (“AFFO”) attributable to common stockholders of $0.56 per diluted share.

◾Shopping center same-property net operating income (“NOI”) increased by 6.8%. Excluding certain non-recurring recovery benefits, shopping center same property NOI increased by 4.2% versus the comparable 2025 period.

◾Executed 146,000 square feet of comparable retail leases at a positive cash rent spread of 14%.

◾Acquired Palms Crossing, a 399,000 square foot open-air retail center located in McAllen, Texas, for $81.6 million.

◾Watters Creek preferred investment of $30.0 million was repaid in full.

Subsequent Event

◾On April 17, 2026, invested $75.0 million of preferred equity in a Class A premier retail property located in the Southwest. The investment generates a 12.0% initial cash yield with a two-year term.

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“We’re off to a strong start in 2026 on all fronts, with robust leasing, strong same-center NOI growth, and an acquisition of a high-quality open-air retail center in Texas, one of our core markets,” stated John P. Albright, President and Chief Executive Officer of CTO Realty Growth. “Further, we see meaningful tailwinds in the coming quarters driven by our $6.2 million SNO pipeline, which represents 5.5% of in-place cash ABR. We are particularly pleased with our acquisition of Palms Crossing which aligns well with our strategy to acquire high-quality, well-located retail centers with embedded future rent growth and anchored by strong national retailers.”

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Financial Results

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​	​	​	​	​	​	​
(in thousands, except per share data)	​ ​ ​	1Q 2026		​	1Q 2025
Net Income	​	$	6,205	​	$	2,261
Net Income per Common Share - Diluted	​	$	0.13	​	$	0.01
​	​	​	​	​	​	​
Core FFO	​	$	16,931	​	$	14,445
Core FFO per Common Share - Diluted	​	$	0.52	​	$	0.46
​	​	​	​	​	​	​
AFFO	​	$	18,238	​	$	15,521
AFFO per Common Share - Diluted	​	$	0.56	​	$	0.49

Metrics reflect amounts attributable to common stockholders. Refer to “Non-GAAP Financial Measures” for definitions and additional detail. Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release.

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First Quarter Portfolio Performance

Retail Leasing Activity

◾ The Company executed 25 new leases, renewals and extensions totaling 153,000 square feet. On a comparable space basis, the Company executed 146,000 square feet of leases at an average cash rent spread increase of 14%.

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Same Property NOI

◾ Shopping center same property NOI increased by 6.8% versus the comparable 2025 period. Excluding certain non-recurring recovery benefits, shopping center same property NOI increased by 4.2% versus the comparable 2025 period.

◾ Including other/non-core properties, same-property NOI increased by 3.4% for the first quarter. This growth was impacted by one tenant vacating 98,000 of our 212,000 square feet Albuquerque, New Mexico property in December 2025, which more than offset the non-recurring recovery benefits recorded in the quarter. As previously announced, this vacancy was leased by the State of New Mexico which is expected to comment paying rent in late 2026.

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Occupancy

◾ As of March 31, 2026, total property portfolio leased occupancy was 95.4%, up 160 basis points compared to March 31, 2025, and a decrease of 50 basis points compared to December 31, 2025.

◾ As of March 31, 2026, same-property shopping center portfolio leased occupancy was 95.0%, up 30 basis points compared to March 31, 2025.

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First Quarter Investment and Disposition Activity

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Investment Activity

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◾ The Company acquired Palms Crossing, a 399,000 square foot open-air retail center located in McAllen, Texas, for a purchase price of $81.6 million. Palms Crossing is currently 98% leased, anchored by Best Buy, Hobby Lobby, Burlington Coat Factory, Barnes & Noble and Nike. The Property is located on 47 acres, and features two pad sites for potential future development opportunities.

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Disposition & Structured Investment Repayment Activity

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◾ The Company’s preferred investment in Watters Creek Village, a grocery-anchored, mixed-use property located in Allen, Texas, was repaid in full for $30.0 million.

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Balance Sheet and Liquidity

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Balance sheet highlights as of March 31, 2026, included:

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◾ Total liquidity of $124.3 million, consisting of $116.0 million of undrawn commitments and $8.3 million of cash on hand.

◾ Total borrowings of $651.8 million at a weighted average interest rate of 4.6%, including $634.0 million of unsecured borrowings and a $17.8 million mortgage payable.

◾ Net Debt to Pro Forma Adjusted EBITDA of 6.4 times.

◾ During the quarter ended March 31, 2026, the Company issued 733,883 common shares under its common stock ATM program at a weighted average gross price of $19.59 per share, for total net proceeds of $14.2 million.

◾ The Company’s only 2026 loan maturity is a $17.8 million mortgage note payable, maturing in August at an interest rate of 4.06%.

◾ Classified Madison Yards located in Atlanta, Georgia as held for sale with an expected close in May.

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2026 Outlook

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The Company is revising its 2026 outlook. The Company’s 2026 guidance is based on current plans and a number of assumptions and is subject to risks and uncertainties, many of which are outside the Company’s control, and are more fully described in this press release and in the Company's reports filed with the U.S. Securities and Exchange Commission.

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The Company has raised its 2026 outlook as follows:

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​	​	​	​	​
(Unaudited)	​	Current	​	Previous
Core FFO per Common Share - Diluted	​	$2.06 to $2.11	​	$1.98 to $2.03
AFFO per Common Share - Diluted	​	$2.19 to $2.24	​	$2.11 to $2.16

Metrics above reflect amounts attributable to common stockholders.

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The Company’s revised 2026 outlook includes but is not limited to the following assumptions (dollars in millions): 

​	​	​	​	​
​	​	Current	​	Previous
Investment Volume, Including Commercial Loans & Structured Investments	​	$175 to $250	​	$100 to $200
Same-Property NOI Growth for Shopping Centers	​	Unchanged	​	3.5% to 4.5%
General & Administrative Expenses	​	$19.7 to $20.2	​	$19.5 to $20.0

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Reconciliation of the outlook range of the Company’s 2026 estimated Net Income Attributable to the Company per Diluted Share to estimated Core FFO Attributable to Common Stockholders per Diluted Share, and AFFO Attributable to Common Stockholders per Diluted Share:

​	​	​	​	​	​	​
​	​	Revised 2026 Outlook
(Unaudited)	​	Low		​	High
Net Income Attributable to the Company per Common Share - Diluted	​	$	0.53	​	$	0.59
Depreciation and Amortization of Real Estate	​	​	1.90	​	​	1.90
Provision for Impairment and Adjustment to CECL Reserve (1)	​	​	(0.01)	​	​	(0.01)
Realized and Unrealized Loss (Gain) on Investment Securities (1)	​	​	(0.06)	​	​	(0.06)
Funds from Operations, per Common Share - Diluted	​	$	2.36	​	$	2.42
Distributions to Preferred Stockholders	​	​	(0.21)	​	​	(0.21)
Funds From Operations Attributable to Common Stockholders per Common Share - Diluted	​	$	2.15	​	$	2.21
Amortization of Intangibles to Lease Income	​	​	(0.09)	​	​	(0.10)
Core FFO Attributable to Common Stockholders per Common Share - Diluted	​	$	2.06	​	$	2.11
Adjustments:	​	​	​	​	​	​
Straight-Line Rent Adjustment	​	​	(0.04)	​	​	(0.04)
Other Depreciation and Amortization	​	​	-	​	​	-
Amortization of Loan Costs and Capitalized Interest	​	​	0.03	​	​	0.03
Non-Cash Compensation	​	​	0.14	​	​	0.14
AFFO Attributable to Common Stockholders per Common Share - Diluted	​	$	2.19	​	$	2.24

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⁽¹⁾ Provision for Impairment and Adjustment to CECL Reserve and Realized and Unrealized Loss (Gain) on Investment Securities represents the actual adjustment for the three months ended March 31, 2026. The Company’s outlook excludes projections related to these measures.

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Earnings Conference Call & Webcast

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The Company will host a conference call to present its operating results for the first quarter ended March 31, 2026, on Wednesday, April 29, 2026 at 9:00 AM ET.

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A live webcast of the call will be available on the Investor Relations page of the Company’s website at www.ctoreit.com or at the link provided in the event details below. To access the call by phone, please go to the registration link provided in the event details below and you will be provided with dial-in details.

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Event Details:

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Webcast: https://edge.media-server.com/mmc/p/7a2jh3xw

Registration:https://register-conf.media-server.com/register/BI44d0a9de51204a7a9115883fa90899d4

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We encourage participants to register and dial into the conference call at least fifteen minutes ahead of the scheduled start time. A replay of the earnings call will be archived and available online through the Investor Relations section of the Company’s website at www.ctoreit.com.

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About CTO Realty Growth, Inc.

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CTO Realty Growth, Inc. is a publicly traded real estate investment trust that owns and operates a portfolio of high-quality shopping centers, located primarily in higher growth markets in the United States. CTO also externally manages and owns a meaningful interest in Alpine Income Property Trust, Inc. (NYSE: PINE), a publicly traded net lease REIT.

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We encourage you to review our most recent investor presentation and supplemental financial information, which is available on our website at www.ctoreit.com.

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Contact:Investor Relations

ir@ctoreit.com

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Safe Harbor 

Certain statements contained in this press release (other than statements of historical fact) are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can typically be identified by words such as “outlook,” “believe,” “estimate,” “expect,” “intend,” “anticipate,” “will,” “could,” “may,” “should,” “plan,” “potential,” “predict,” “forecast,” “project,” and similar expressions, as well as variations or negatives of these words. 

Although forward-looking statements are made based upon management’s present expectations and beliefs concerning future developments and their potential effect upon the Company, a number of factors could cause the Company’s actual results to differ materially from those set forth in the forward-looking statements. Such factors may include, but are not limited to: the Company’s ability to remain qualified as a REIT; the Company’s exposure to U.S. federal and state income tax law changes, including changes to the REIT requirements; general adverse economic and real estate conditions; macroeconomic and geopolitical factors, including but not limited to inflationary pressures, interest rate volatility, distress in the banking sector, global supply chain disruptions, and ongoing geopolitical war; credit risk associated with the Company investing in commercial loans and similarly structured investments; the ultimate geographic spread, severity and duration of pandemics such as the COVID-19 Pandemic and its variants, actions that may be taken by governmental authorities to contain or address the impact of such pandemics, and the potential negative impacts of such pandemics on the global economy and the Company’s financial condition and results of operations; the inability of major tenants or borrowers to continue paying their rent or obligations due to bankruptcy, insolvency or a general downturn in their business; the loss or failure, or decline in the business or assets of PINE; the completion of 1031 exchange transactions; the availability of investment properties that meet the Company’s investment goals and criteria; the uncertainties associated with obtaining required governmental permits and satisfying other closing conditions for planned acquisitions and sales; and the uncertainties and risk factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and other risks and uncertainties discussed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. 

There can be no assurance that future developments will be in accordance with management’s expectations or that the effect of future developments on the Company will be those anticipated by management. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances. 

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Non-GAAP Financial Measures 

Our reported results are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). We also disclose Funds From Operations (“FFO”), Core Funds From Operations (“Core FFO”), Adjusted Funds From Operations (“AFFO”), Pro Forma Earnings Before Interest, Taxes, Depreciation and Amortization (“Pro Forma Adjusted EBITDA”), and Same-Property Net Operating Income (“Same-Property NOI”), each of which are non-GAAP financial measures. We believe these non-GAAP financial measures are useful to investors because they are widely accepted industry measures used by analysts and investors to compare the operating performance of REITs. 

FFO, Core FFO, AFFO, Pro Forma Adjusted EBITDA, and Same-Property NOI do not represent cash generated from operating activities and are not necessarily indicative of cash available to fund cash requirements; accordingly, they should not be considered alternatives to net income as a performance measure or cash flows from operating activities as reported on our statement of cash flows as a liquidity measure and should be considered in addition to, and not in lieu of, GAAP financial measures. 

We compute FFO in accordance with the definition adopted by the Board of Governors of the National Association of Real Estate Investment Trusts, or NAREIT.  

NAREIT defines FFO as GAAP net income or loss adjusted to exclude real estate related depreciation and amortization, as well as extraordinary items (as defined by GAAP) such as net gain or loss from sales of depreciable real estate assets, impairment write-downs associated with depreciable real estate assets and impairments associated with the current expected credit losses on commercial loans and investments at the time of origination and repayment, including the pro rata share of such adjustments of unconsolidated subsidiaries. The Company also excludes the gains or losses from sales of assets incidental to the primary business of the REIT which specifically include the sales of investment securities, in addition to the mark-to-market of the Company’s investment securities. To derive Core FFO, we modify the NAREIT computation of FFO to include other adjustments to GAAP net income related to gains and losses recognized on the extinguishment of debt, amortization of above- and below-market lease related intangibles, and other unforecastable market- or transaction-driven non-cash items. To derive AFFO, we further modify the NAREIT computation of FFO and Core FFO to include other adjustments to GAAP net income related to non-cash revenues and expenses such as straight-line rental revenue, non-cash compensation, and other non-cash amortization. Such items may cause short-term fluctuations in net income but have no impact on operating cash flows or long-term operating performance. We use AFFO as one measure of our performance when we formulate corporate goals. 

To derive Pro Forma Adjusted EBITDA, GAAP net income or loss attributable to the Company is adjusted to exclude real estate related depreciation and amortization, as well as extraordinary items (as defined by GAAP) such as net gain or loss from sales of depreciable real estate assets, impairment write-downs associated with depreciable real estate assets, impairments associated with the current expected credit losses on commercial loans and investments at the time of origination and repayment, including the pro rata share of such adjustments of unconsolidated subsidiaries, non-cash revenues and expenses such as straight-line rental revenue, amortization of deferred financing costs, gains and losses recognized on the extinguishment of debt, above- and below-market lease related intangibles, non-cash compensation, other non-recurring items such as termination fees, forfeitures of tenant security deposits, and other non-recurring items, and other non-cash income or expense. The Company also excludes the gains or losses from sales of assets incidental to the primary business of the REIT which specifically include the sales of investment securities, in addition to the mark-to-market of the Company’s investment securities. Cash interest expense is also excluded from Pro Forma Adjusted EBITDA, and GAAP net income or loss is adjusted for the annualized impact of acquisitions, dispositions and other similar activities. 

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To derive Same-Property NOI, GAAP net income or loss attributable to the Company is adjusted to exclude real estate related depreciation and amortization, as well as extraordinary items (as defined by GAAP) such as net gain or loss from sales of depreciable real estate assets, impairment write-downs associated with depreciable real estate assets, impairments associated with the current expected credit losses on commercial loans and investments at the time of origination and repayment, including the pro rata share of such adjustments of unconsolidated subsidiaries, non-cash revenues and expenses such as straight-line rental revenue, amortization of deferred financing costs, gains and losses recognized on the extinguishment of debt, above- and below-market lease related intangibles, non-cash compensation, other non-recurring items such as termination fees, forfeitures of tenant security deposits, and other non-recurring items, and other non-cash income or expense. Interest expense, general and administrative expenses, investment and other income or loss, income tax benefit or expense, management fee income, and interest income from commercial loans and investments are also excluded from Same-Property NOI. GAAP net income or loss is further adjusted to remove the impact of properties that were not owned for the full current and prior year reporting periods presented. Cash rental income received under the leases pertaining to the Company’s assets that are presented as commercial loans and investments in accordance with GAAP is also used in lieu of the interest income equivalent. 

FFO is used by management, investors and analysts to facilitate meaningful comparisons of operating performance between periods and among our peers primarily because it excludes the effect of real estate depreciation and amortization and net gains or losses on sales, which are based on historical costs and implicitly assume that the value of real estate diminishes predictably over time, rather than fluctuating based on existing market conditions. We believe that Core FFO and AFFO are additional useful supplemental measures for investors to consider because they will help them to better assess our operating performance without the distortions created by other non-cash revenues or expenses. We also believe that Pro Forma Adjusted EBITDA is an additional useful supplemental measure for investors to consider as it allows for a better assessment of our operating performance without the distortions created by other non-cash revenues, expenses or certain effects of the Company’s capital structure on our operating performance. We use Same-Property NOI to compare the operating performance of our assets between periods. It is an accepted and important measurement used by management, investors and analysts because it includes all property-level revenues from the Company’s properties, less operating and maintenance expenses, real estate taxes and other property-specific expenses (“Net Operating Income” or “NOI”) of properties that have been owned and stabilized for the entire current and prior year reporting periods. Same-Property NOI attempts to eliminate differences due to the acquisition or disposition of properties during the particular period presented, and therefore provides a more comparable and consistent performance measure for the comparison of the Company’s properties. FFO, Core FFO, AFFO, Pro Forma Adjusted EBITDA, and Same-Property NOI may not be comparable to similarly titled measures employed by other companies.

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CTO Realty Growth, Inc.

Consolidated Balance Sheets

(In thousands, except share and per share data) 

​

​	​	​	​	​	​	​
​	​	As of
​	​ ​ ​	(Unaudited) March 31, 2026		​ ​ ​	December 31, 2025
ASSETS	​	​	​	​	​	​
Real Estate:	​	​	​	​	​	​
Land, at Cost	​	$	278,594	​	$	289,012
Building and Improvements, at Cost	​	​	778,031	​	​	766,371
Other Furnishings and Equipment, at Cost	​	​	923	​	​	923
Construction in Process, at Cost	​	​	4,913	​	​	4,091
Total Real Estate, at Cost	​	​	1,062,461	​	​	1,060,397
Less, Accumulated Depreciation	​	​	(110,422)	​	​	(107,268)
Real Estate—Net	​	​	952,039	​	​	953,129
Land and Development Costs	​	​	—	​	​	300
Intangible Lease Assets—Net	​	​	86,479	​	​	84,710
Assets Held for Sale	​	​	72,126	​	​	—
Investment in Alpine Income Property Trust, Inc.	​	​	44,488	​	​	41,324
Commercial Loans and Investments	​	​	80,713	​	​	104,804
Cash and Cash Equivalents	​	​	8,282	​	​	6,467
Restricted Cash	​	​	10,587	​	​	34,652
Deferred Income Taxes—Net	​	​	2,309	​	​	2,309
Other Assets	​	​	42,644	​	​	36,207
Total Assets	​	$	1,299,667	​	$	1,263,902
LIABILITIES AND STOCKHOLDERS’ EQUITY	​	​	​	​	​	​
Liabilities:	​	​	​	​	​	​
Accounts Payable	​	$	1,852	​	$	1,709
Accrued and Other Liabilities	​	​	23,386	​	​	28,185
Deferred Revenue	​	​	16,911	​	​	18,802
Intangible Lease Liabilities—Net	​	​	32,562	​	​	31,486
Income Taxes Payable	​	​	61	​	​	29
Long-Term Debt—Net	​	​	649,532	​	​	616,345
Total Liabilities	​	​	724,304	​	​	696,556
Commitments and Contingencies	​	​	​	​	​	​
Stockholders’ Equity:	​	​	​	​	​	​
Preferred Stock – 100,000,000 shares authorized; $0.01 par value, 6.375% Series A Cumulative Redeemable Preferred Stock, $25.00 Per Share Liquidation Preference, 4,713,069 shares issued and outstanding at March 31, 2026 and December 31, 2025	​	​	47	​	​	47
Common Stock – 500,000,000 shares authorized; $0.01 par value, 33,293,471 shares issued and outstanding at March 31, 2026 and 32,372,291 shares issued and outstanding at December 31, 2025	​	​	333	​	​	324
Additional Paid-In Capital	​	​	396,749	​	​	382,494
Retained Earnings	​	​	176,442	​	​	184,886
Accumulated Other Comprehensive Income (Loss)	​	​	1,792	​	​	(405)
Total Stockholders’ Equity	​	​	575,363	​	​	567,346
Total Liabilities and Stockholders’ Equity	​	$	1,299,667	​	$	1,263,902

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CTO Realty Growth, Inc.

Consolidated Statements of Operations

(Unaudited, in thousands, except share, per share and dividend data)

​

​	​	​	​	​	​	​
​	​	Three Months Ended March 31,
​	​ ​ ​	2026		​ ​ ​	2025
Revenues	​	​	​	​	​	​
Income Properties	​	$	36,580	​	$	31,672
Management Fee Income	​	​	1,349	​	​	1,178
Interest Income From Commercial Loans and Investments	​	​	3,244	​	​	2,961
Total Revenues	​	​	41,173	​	​	35,811
Direct Cost of Revenues	​	​	​	​	​	​
Income Properties	​	​	(10,168)	​	​	(8,891)
Total Direct Cost of Revenues	​	​	(10,168)	​	​	(8,891)
General and Administrative Expenses	​	​	(5,077)	​	​	(4,683)
Provision for Impairment and Adjustment to CECL Reserve	​	​	321	​	​	—
Depreciation and Amortization	​	​	(15,956)	​	​	(14,364)
Total Operating Expenses	​	​	(30,880)	​	​	(27,938)
Total Operating Income	​	​	10,293	​	​	7,873
Investment and Other Income	​	​	3,243	​	​	575
Interest Expense	​	​	(7,271)	​	​	(6,136)
Income Before Income Tax Expense	​	​	6,265	​	​	2,312
Income Tax Expense	​	​	(60)	​	​	(51)
Net Income Attributable to the Company	​	​	6,205	​	​	2,261
Distributions to Preferred Stockholders	​	​	(1,878)	​	​	(1,878)
Net Income Attributable to Common Stockholders	​	$	4,327	​	$	383
​	​	​	​	​	​	​
Per Share Information:	​	​	​	​	​	​
Basic and Diluted Net Income Attributable to Common Stockholders	​	$	0.13	​	$	0.01
​	​	​	​	​	​	​
Weighted Average Number of Common Shares	​	​	​	​	​	​
Basic	​	​	32,519,156	​	​	31,552,973
Diluted	​	​	32,522,938	​	​	31,595,431
​	​	​	​	​	​	​
Dividends Declared and Paid - Preferred Stock	​	$	0.40	​	$	0.40
Dividends Declared and Paid - Common Stock	​	$	0.38	​	$	0.38

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CTO Realty Growth, Inc.

Non-GAAP Financial Measures

Funds from Operations, Core Funds from Operations, and Adjusted Funds from Operations

Attributable to Common Stockholders

(Unaudited)

(In thousands, except per share data) 

​

​	​	​	​	​	​	​
​	​	Three Months Ended March 31,
​	​	2026		​	2025
Net Income Attributable to the Company	​	$	6,205	​	$	2,261
Adjustments:	​	​	​	​	​	​
Depreciation and Amortization of Real Estate	​	​	15,938	​	​	14,346
Provision for Impairment and Adjustment to CECL Reserve	​	​	(321)	​	​	—
Realized and Unrealized Loss (Gain) on Investment Securities	​	​	(2,103)	​	​	165
Funds from Operations	​	$	19,719	​	$	16,772
Distributions to Preferred Stockholders	​	​	(1,878)	​	​	(1,878)
Funds From Operations Attributable to Common Stockholders	​	$	17,841	​	$	14,894
Adjustments:	​	​	​	​	​	​
Amortization of Intangibles to Lease Income	​	​	(910)	​	​	(449)
Core Funds From Operations Attributable to Common Stockholders	​	$	16,931	​	$	14,445
Adjustments:	​	​	​	​	​	​
Straight-Line Rent Adjustment	​	​	(440)	​	​	(573)
Other Depreciation and Amortization	​	​	—	​	​	(1)
Amortization of Loan Costs, Discount on Convertible Debt, and Capitalized Interest	​	​	341	​	​	367
Non-Cash Compensation	​	​	1,406	​	​	1,283
Adjusted Funds From Operations Attributable to Common Stockholders	​	$	18,238	​	$	15,521
​	​	​	​	​	​	​
FFO Attributable to Common Stockholders per Common Share - Diluted	​	$	0.55	​	$	0.47
Core FFO Attributable to Common Stockholders per Common Share - Diluted	​	$	0.52	​	$	0.46
AFFO Attributable to Common Stockholders per Common Share - Diluted	​	$	0.56	​	$	0.49
​	​	​	​	​	​	​
Supplemental Disclosure:	​	​	​	​	​	​
PIK Interest Earned	​	$	8	​	$	—
PIK Interest Paid	​	​	—	​	​	—
PIK Interest Earned in Excess of PIK Interest Paid	​	$	8	​	$	—

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CTO Realty Growth, Inc.

Non-GAAP Financial Measures

Same-Property NOI Reconciliation

(Unaudited)

(In thousands) 

​

​

​	​	​	​	​	​	​
​	​	Three Months Ended March 31,
​	​	2026		​	2025
Net Income Attributable to the Company	​	$	6,205	​	$	2,261
Provision for Impairment and Adjustment to CECL Reserve	​	​	(321)	​	​	—
Depreciation and Amortization	​	​	15,956	​	​	14,364
Amortization of Intangibles to Lease Income	​	​	910	​	​	449
Straight-Line Rent Adjustment	​	​	440	​	​	573
Accretion of Tenant Contribution	​	​	13	​	​	13
Interest Expense	​	​	7,271	​	​	6,136
General and Administrative Expenses	​	​	5,077	​	​	4,683
Investment and Other Income	​	​	(3,243)	​	​	(575)
Income Tax Expense	​	​	60	​	​	51
Management Fee Income	​	​	(1,349)	​	​	(1,178)
Interest Income From Commercial Loans and Investments	​	​	(3,244)	​	​	(2,961)
Other Non-Recurring Items (1)	​	​	(191)	​	​	(110)
Less: Impact of Properties Not Owned for the Full Reporting Period	​	​	(6,790)	​	​	(3,596)
Same-Property NOI	​	$	20,794	​	$	20,110
Less: Same Property NOI for Other Properties	​	​	(559)	​	​	(1,164)
Same-Property NOI for Shopping Centers	​	$	20,235	​	$	18,946

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(1) Includes non-recurring items such as termination fees, forfeitures of tenant security deposits, and other non-recurring items.

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CTO Realty Growth, Inc.

Non-GAAP Financial Measures

Reconciliation of Net Debt to Pro Forma Adjusted EBITDA

(Unaudited)

(In thousands)

​

​	​	​	​	​
​	​	Three Months Ended		​
​	​	March 31, 2026		​
Net Income Attributable to the Company	​	$	6,205	​
Depreciation and Amortization of Real Estate	​	​	15,938	​
Provision for Impairment and Adjustment to CECL Reserve	​	​	(321)	​
Unrealized Gain & Realized Loss on Investment Securities	​	​	(2,103)	​
Distributions to Preferred Stockholders	​	​	(1,878)	​
Amortization of Intangibles to Lease Income	​	​	(910)	​
Straight-Line Rent Adjustment	​	​	(440)	​
Amortization of Loan Costs and Capitalized Interest	​	​	341	​
Non-Cash Compensation	​	​	1,406	​
Other Non-Recurring Items (1)	​	​	(601)	​
Interest Expense, Net of Amortization of Loan Costs	​	​	6,930	​
Adjusted EBITDA	​	$	24,567	​
​	​	​	​	​
Annualized Adjusted EBITDA	​	$	98,268	​
Pro Forma Annualized Impact of Current Quarter Investments and Dispositions, Net (2)	​	​	1,585	​
Pro Forma Adjusted EBITDA	​	$	99,853	​
​	​	​	​	​
Total Long-Term Debt	​	$	649,532	​
Financing Costs, Net of Accumulated Amortization	​	​	2,268	​
Cash and Cash Equivalents	​	​	(8,282)	​
Net Debt	​	$	643,518	​
​	​	​	​	​
Net Debt to Pro Forma Adjusted EBITDA	​	​	6.4	x

⁽¹⁾ Includes non-recurring items such as termination fees, forfeitures of tenant security deposits, and other non-recurring items.

⁽²⁾ Reflects the pro forma annualized impact on Annualized Adjusted EBITDA of the Company’s investments and disposition activity during the three months ended March 31, 2026.

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Exhibit 99.2

Q1 2026 Investor Presentation Ashford Lane | Atlanta, GA

2 © CTO Realty Growth, Inc. | ctoreit.com $496M $690M $919M $946M $1.3B $1.3B $1.4B 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 3/31/2026 Highlights Income Properties Revenues Enterprise Value As of March 31, 2026 unless otherwise noted. Metrics based on ABR represent cash ABR excluding the impact of straight-line rent. $0.52 Core FFO Per Share $213 Implied property value per square foot 146,000 Square feet of comparable leasing activity 14% Comparable leasing spread 85% ABR from Georgia, Florida, North Carolina & Texas 95.4% Leased Occupancy – 450 bps spread to 90.9% occupancy $6.2M SNO Pipeline – 5.5% of in-place ABR $20.83 Cash ABR PSF 6.8% Quarterly same-property NOI growth for shopping centers – 4.2% excluding non-recurring recovery benefits Q1 2026 Highlights $50M $51M $69M $97M $111M $132M $151M 2020 2021 2022 2023 2024 2025 Q1 2026

3 © CTO Realty Growth, Inc. | ctoreit.com Company Highlights Unless otherwise noted, metrics are as of March 31, 2026, and reflect a $18.49 per share common stock price for CTO. Metrics based on ABR represent cash ABR excluding the impact of straight-line rent. 1. Based on metrics as of March 31, 2026 except for property value which is based on forward twelve months NOI estimate reduced by forecasted capital expenditures 2. Investment and disposition activity includes both properties and structured investments West Broad Village Glen Allen, VA 5.9M Square Feet 85% Of Portfolio ABR from Georgia, Florida, Texas & North Carolina 8.2% Annualized Dividend Yield 8.4% Implied Cap Rate 1 $0.5 billion Total Disposition Activity: 2020-Present 2 $1.5 billion Total Acquisition Activity: 2020-Present 2 $644M Net Debt Outstanding $118M Series A Preferred $1.4B Enterprise Value $616M Equity Market Cap Shopping center REIT focused on open-air centers in fast growing MSAs in the Southeast and Southwest

4 © CTO Realty Growth, Inc. | ctoreit.com Transaction Highlights February 2026 Acquisition: Palms Crossing – McAllen, TX ▪ $81.6 million purchase price in February 2026 ▪ Basis of $204 / SF, well-below replacement cost ▪ 399,000 square feet across 47 acres ▪ 98% leased, anchored by Best Buy, Hobby Lobby, Burlington, Barnes & Noble & Nike ▪ Upside potential with two pad sites situated on ~6 acres representing future development opportunities ▪ 7.2 million annual visits to Palms Crossing, ranking in the top 3% of shopping centers in Texas ▪ McAllen is positioned as the retail epicenter for the Rio Grande Valley, a region with more than 2.3 million people ▪ Its proximity to Mexico results in 18 million annual border crossings, creating significant cross-border retail demand ▪ In May, we expect to sell a property with proceeds accretively redeployed into Palms Crossing

5 © CTO Realty Growth, Inc. | ctoreit.com KRG KIM BRX UE PECO FRT REG CTO AAT WSR AKR SKT 8.0x 10.0x 12.0x 14.0x 16.0x 18.0x 20.0x – 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% Multiple to 2026 FFO (Midpoint) 2026 Guidance FFO Growth (Midpoint) 2026 FFO Growth (Midpoint) vs. Valuation 2026E FFO multiples are based on the closing stock price on March 31, 2026, and 2026E FFO guidance per company disclosures. Note that FFO reflects NAREIT FFO unless the company discloses: Core FFO, FFO as adjusted, or Real Estate FFO. CTO offers attractive growth at a low multiple relative to retail peers Ashford Lane Atlanta, GA

6 © CTO Realty Growth, Inc. | ctoreit.com Portfolio by Asset Type 19% 44% if including shadow-anchored assets 26% 51% As of March 31, 2026 Percentages based on cash ABR excluding the impact of straight-line rent. Excludes 4% of ABR from other assets comprised of mixed-use asset, single tenant retail & office property. Madison Yards | Atlanta, GA Ashford Lane | Atlanta, GA Marketplace at Seminole | Sanford, FL Grocery-Anchored Retail Lifestyle Power Center

7 © CTO Realty Growth, Inc. | ctoreit.com © GeoNames, Microsoft, TomTom Powered by Bing 2% 34% Cash ABR % Focused on Southeast & Southwest U.S. Percentages listed based on cash ABR excluding the impact of straight-line rent for the Company’s portfolio as of March 31, 2026. Any differences a result of rounding. Texas: 15% of ABR Florida: 23% of ABR Georgia: 34% of ABR North Carolina: 13% of ABR 85% Of Portfolio ABR from Georgia, Florida, Texas & North Carolina

8 © CTO Realty Growth, Inc. | ctoreit.com High-Quality Demographics As of March 31, 2026 unless otherwise noted. 1. Source: Esri; Portfolio average weighted by the Annualized Cash Base Rent of each property. Rank Market Properties SF (000s) % ABR 1 Atlanta, GA 5 1,661 34% 2 Richmond, VA 1 392 9% 3 Orlando, FL 3 449 8% 4 Charlotte, NC 1 694 8% 5 Fort Lauderdale, FL 1 509 7% 6 McAllen, TX 1 399 6% 7 Dallas, TX 1 444 6% 8 Raleigh, NC 1 322 5% 9 Jacksonville, FL 1 211 5% 10 Phoenix, AZ 1 222 4% 11 Houston, TX 1 201 3% 12 Tampa, FL 2 176 2% 13 Albuquerque, NM 1 212 2% 14 Daytona, FL 2 12 1% Total 22 5,904 100% Denotes a MSA with over one million people Bold denotes a Top 30 ULI Market 82% % of ABR from ULI’s Top 30 Markets 1 193,000 Portfolio 5-Mile Population1 $137,000 Portfolio Average 5-Mile Household Income1 Beaver Creek Crossings | Raleigh, NC

9 © CTO Realty Growth, Inc. | ctoreit.com Signed-Not-Open (SNO) Schedule As of March 31, 2026 unless otherwise noted. Adjusts for any SNO leases that will be backfilling boxes inhabited as of March 31, 2026. 1. ABR Recognition Timing represents the percent of rent within the SNO pipeline that is expected to actually be recognized within each respective period. SNO pipeline delivers tailwinds from executed leasing as leases commence ABR Recognition Timing1 $6.2M cash base rent $23.24 SNO cash rent PSF 5.5% of in-place cash rent 69% cash base rent from anchor tenants 450 bps leased-to-occupied spread Exchange at Gwinnett | Atlanta, GA $1.8M $6.1M $6.2M 2026 2027 2028

10 © CTO Realty Growth, Inc. | ctoreit.com Historical Leasing Upside Since Acquisition As of March 31, 2026 unless otherwise noted. Beaver Creek Raleigh, NC Collection at Forsyth Atlanta, GA Plaza at Rockwall Dallas, TX Marketplace at Seminole Orlando, FL SF Leased Since Acquisition 225k 342k 148k 128k Comparable SF Leased Since Acquisition 213k 283k 131k 112k Cash Rent Spread 39% 14% 24% 36% Q1 2026 Leased Occupancy 100% 94% 100% 100% Occupancy Increase since Acquisition 300 bps 800 bps 500 bps 200 bps

11 © CTO Realty Growth, Inc. | ctoreit.com Significantly Below Replacement Cost • Large MSAs Ashley Park ▪ Atlanta, GA ▪ 559,000 sf ▪ 61 acres ▪ 96% Q1 leased occupancy ▪ Closed March 2025 Recent Acquisitions with Average Basis of $157 per SF As of March 31, 2026 unless otherwise noted. Granada Plaza ▪ Tampa, FL ▪ 74,000 sf ▪ 7 acres ▪ 92% Q1 leased occupancy ▪ Closed December 2024 ▪ McAllen, TX ▪ 399,000 sf ▪ 47 acres ▪ 98% Q1 leased occupancy ▪ Closed February 2026 Palms Crossing Q1 2026 Acquisition Pompano Citi Centre ▪ Pompano Beach, FL ▪ 509,000 sf ▪ 34 acres ▪ 93% Q1 leased occupancy ▪ Closed December 2025

12 © CTO Realty Growth, Inc. | ctoreit.com Outparcel Opportunities Shopping Center Market Space Collection at Forsyth 10 acres Atlanta, GA Big box – 40k SF & pad Beaver Creek Raleigh, NC Small shops – 15k SF West Broad Village Richmond, VA Big box – 20k SF Plaza at Rockwall Dallas, TX Small shops – 10k SF Ashley Park Lease Executed 2 Atlanta, GA Single tenant – 10k SF Marketplace at Seminole Lease Executed Orlando, FL Drive-through As of March 31, 2026 1. Excluding costs to purchase land 2. Executed subsequent to quarter end and as such is not included in the SNO pipeline or first quarter leasing statistics The projects listed above are actively underway. 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 Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. Six Outparcel Development Opportunities to Generate Blended Low Double-Digit Yield on Cost • Average yield on cost of 10-12%1 • ~$30 million1 of costs spread across 2026 & 2027 • Rent to begin commencing in mid-2027 • At LOI, lease negotiations or executed leases for all outparcels Ashley Park Outparcel

13 © CTO Realty Growth, Inc. | ctoreit.com Collection at Forsyth to Benefit from Development Activity Originated $40.2 Million First Mortgage Loan for Whole Foods Anchored Development ▪ Strategic investment in development located on 35 acres neighboring CTO’s 561,000 SF shopping center, The Collection at Forsyth, in Atlanta, Georgia ▪ Planned development is for 80,000 SF of retail anchored by a 35,500 SF Whole Foods Market ▪ Loan provides for up to $40.2 million of borrowings, representing 66.5% LTC, with an initial term of 30 months and an initial fixed interest rate of 12.15% ▪ CTO has a right of first refusal to purchase the new retail center ▪ Closed November 7, 2024 with $16.5 million in total funded through March 31, 2026 10 Acres Development – Lease Opportunity ▪ Since the announcement of the new Whole Foods location adjacent to our 10 acres of land, we have received strong leasing interest ▪ Currently in discussions with anchor tenant to add an amenity / draw to the Collection at Forsyth broke ground in April 2025 The Collection at Forsyth +Adjacent 10 Acres CTO Property/Land CTO Loan

14 © CTO Realty Growth, Inc. | ctoreit.com 5% 10% 19% 11% 10% 13% 7% 5% 6% 8% 2% 4% Contractual Rent Bumps & Lease Rollover Schedule As of March 31, 2026. ABR metrics represent cash ABR excluding the impact of straight-line rent. 1. Percent of ABR from tenants or the parents of a tenant. A credit rated, or investment grade rated tenant (rating of BBB-, Baa3 or NAIC-2 or higher) is a tenant or the parent of a tenant with a credit rating from S&P Global Ratings, Moody’s Investors Service, Fitch Ratings or the National Associated of Insurance Commissioners (NAIC). Lease Rollover Schedule - % ABR Non-Annual Contractual Rent Increases 25% Contractual Rent Increases At Extension 29% Annual Contractual Rent Increases 36% of Leases Have Contractual Rent Increases in the Current Lease Term 61% No Contractual Rent Increases 10% 90% of Leases by ABR Have Contractual Rent Bumps Ashford Lane Atlanta, GA Ashford Lane Atlanta, GA

15 © CTO Realty Growth, Inc. | ctoreit.com Tenant Overview Rank Tenant Credit Rating1 Leases SF (000s) ABR % 1 AMC CCC+ 3 174 4% 2 Best Buy BBB+ 5 187 3% 3 Fidelity BBB 2 122 2% 4 Ross/dd's Discount A- 7 194 2% 5 Burlington BB+ 5 175 2% 6 TJ Maxx/HomeGoods/Marshalls A 6 177 2% 7 Barnes & Noble NR 4 102 2% 8 Dick's Sporting Goods BBB 4 188 2% 9 Nordstrom Rack BB 3 106 2% 10 Southern University NR 1 60 2% 11 Publix NR 2 99 1% 12 Whole Foods Market AA- 1 60 1% 13 Academy Sports & Outdoors BB+ 2 129 1% 14 PetSmart B 4 78 1% 15 Hobby Lobby NR 2 110 1% 16 Regal Cinemas NR 1 51 1% 17 DSW Shoe Warehouse NR 4 69 1% 18 Onelife Fitness NR 1 45 1% 19 Floor & Decor BB 1 75 1% 20 Old Navy BB+ 3 59 1% Top 20 61 2,260 33% As of March 31, 2026 ABR metrics represent cash ABR excluding the impact of straight-line rent. 1. A credit rated, or investment grade rated tenant (rating of BBB-, Baa3 or NAIC-2 or higher) is a tenant or the parent of a tenant with a credit rating from S&P Global Ratings, Moody’s Investors Service, Fitch Ratings or the National Association of Insurance Commissioners (NAIC). Denotes grocery Ashford Lane | Atlanta, GA The Collection at Forsyth | Cumming, GA

16 © CTO Realty Growth, Inc. | ctoreit.com Rank Industry SF (000s) ABR % 1 Casual Dining 383 13% 2 Off-Price Retail 764 10% 3 Entertainment 454 8% 4 Apparel 312 6% 5 Specialty Retail 274 6% 6 Healthcare Services 202 6% 7 Beauty & Cosmetics 226 6% 8 Health & Fitness 225 5% 9 Fast Casual Restaurant 136 5% 10 Consumer Electronics 246 5% 11 Financial Services 194 4% 12 Sporting Goods 383 4% 13 Grocery 267 4% 14 Home Furnishings 251 3% 15 Quick Service Restaurant 76 2% Top 15 4,393 87% Industry Composition As of March 31, 2026 ABR represents cash ABR and excludes the effect of non-cash straight line rent The Collection at Forsyth Cumming, GA

17 © CTO Realty Growth, Inc. | ctoreit.com Structured Investments Portfolio Property Type Current Maturity Current Yield Current Amount ($M) Rivana Land Development First Mortgage September 2028 11.54%2 $36.9 Founders Square Office First Mortgage March 2027 9.50% $15.0 Whole Foods Grocery-Anchored Retail First Mortgage May 2027 12.15% $16.5 Series A Preferred Investment 1 Entertainment Real Estate Preferred Equity NA 14.00% $10.0 Main Street Retail First Mortgage August 2030 6.50% $5.0 Total Structured Investments at Quarter End 11.28% $83.4 Northpark Mall Retail Preferred Equity April 2028 12.00% $75.0 Total Structured Investments Pro Forma for April 2026 Origination 11.62% $158.4 As of March 31, 2026 unless noted otherwise. 1. The Series A Preferred Investment is not redeemable prior to July 11, 2029, except upon the occurrence of certain specified events 2. Amounts funded prior to December 31, 2025 carry a coupon rate of 11.50%, while draws subsequent to that date have a 12.00% coupon rate, including 10.00% cash and 2.00% accrued paid-in-kind interest. The disclosed rate of 11.54% represents the weighted average coupon rate as of March 31, 2026

18 © CTO Realty Growth, Inc. | ctoreit.com © GeoNames, Microsoft, TomTom Powered by Bing – 13% % GAAP ABR PINE Company Profile 1. Calculated using annualized Q1 2026 income 2. Based on PINE’s $18.00 per share common stock price as of March 31, 2026 As of March 31, 2026 Dividend Yield2 6.7% Implied Cap Rate 7.8% Number of Properties 125 Number of States with a Property 31 Total Portfolio Square Feet 4.3M Annualized Base Rent $47.0M % of ABR from Investment Grade Rated Tenants 50% % of ABR from Credit-Rated Tenants 66% CTO Q1 2026 Ann. Income from PINE Investment Management Fee Income Dividend Income Total $5.1M $3.0M $8.1M Diversified Geographic Footprint by ABR High-Quality Top Tenancy 14.0% CTO’s Ownership Interest in Alpine Income Property Trust $44.5 Million CTO’s Investment in Alpine Income Property Trust as of March 31, 2026 2.47 million shares and units at $18.00 share price CTO generates ~$8.1 million1 of income & dividends managing Alpine Income Property Trust (NYSE: PINE)

19 © CTO Realty Growth, Inc. | ctoreit.com Balance Sheet Exchange at Gwinnett Buford, GA As of March 31, 2026 1. As of March 31, 2026, the Company has $116.0 million of undrawn commitments, prior to borrowing base limitations, on our Revolving Credit Facility, and $8.3 million of cash on hand 2. The Company’s senior unsecured revolving credit facility initially matures in January 2027 and includes a one-year extension option to January 2028, subject to satisfaction of certain conditions. 3. Interest rates are comprised of Daily or Term SOFR (plus 10 bps for the Credit Facility, 2027 Term Loan and 2028 Term Loan) and a pricing spread based on leverage as defined in the related credit agreement. Fixed rates reflect SOFR swaps, see the latest Form 10-Q for more details regarding our SOFR swaps. As of 3/31/2026 Fixed/Float Initial Loan Maturity2 Weighted Average Rate3 Principal Price Plaza Mortgage Fixed Aug 2026 4.06% 18 Credit Facility Fixed Jan 2027 5.30% 50 Credit Facility Floating Jan 2027 5.13% 134 2027 Term Loan Fixed Jan 2027 2.80% 100 2028 Term Loan Fixed Jan 2028 5.18% 100 2029 Term Loan Fixed Sep 2029 4.67% 125 2030 Term Loan Fixed Sep 2030 4.69% 125 Total /Average 4.59% $652 Fully Extended Debt Maturities (in millions) 2 $124M liquidity1 47% net debt to total enterprise value (TEV) 6.4x net debt to pro forma adjusted EBITDA $100 $100 $125 $125 $18 $184 2026 2027 2028 2029 2030 Unsecured Secured Revolving Credit Facility

20 © CTO Realty Growth, Inc. | ctoreit.com 2026 Guidance Exchange at Gwinnett Buford, GA $ and shares outstanding in millions, except per share data. 1. See reconciliation of our 2026 Core FFO and AFFO guidance to Net Income Attributable to the Company, per diluted share, in our Earnings Release on page 10. 2. Includes the effects of bad debt expense, occupancy loss and costs associated with tenants in bankruptcy and/or tenant lease defaults. Before potential impact from income producing acquisitions and dispositions. Current Previous Core FFO Per Diluted Share1 $2.06 to $2.11 $1.98 to $2.03 Growth at Guidance Mid-Point vs. 2025A 11.5% AFFO Per Diluted Share1 $2.19 to $2.24 $2.11 to $2.16 Growth at Guidance Mid-Point vs. 2025A 12.4% The Company’s estimated Core FFO per diluted share and AFFO per diluted share for 2026 is as follows: The Company’s 2026 guidance includes but is not limited to the following assumptions: Current Previous Investments (in millions) $175 to $250 $100 to $200 Same-Property NOI Growth for Shopping Centers 2 Unchanged 3.5% to 4.5% General and Administrative Expenses (in millions) $19.7 to $20.2 $19.5 to $20.0

21 © CTO Realty Growth, Inc. | ctoreit.com Experienced Management Team Exchange at Gwinnett Buford, GA Yonder Yoga John P. Albright President & Chief Executive Officer ▪ Former Co-Head and Managing Director of Archon Capital, a Goldman Sachs Company; Executive Director of Merchant Banking – Investment Management at Morgan Stanley; and Managing Director of Crescent Real Estate (NYSE: CEI) Daniel E. Smith Senior Vice President, General Counsel & Corporate Secretary ▪ Former Vice President and Associate General Counsel of Goldman Sachs & Co. and Senior Vice President and General Counsel of Crescent Real Estate (NYSE: CEI) Philip R. Mays Senior Vice President, Chief Financial Officer & Treasurer ▪ Former Chief Financial Officer & Treasurer of Shadowbox Studios; EVP, Chief Financial Officer & Treasurer of Cedar Realty; and Vice President and Chief Accounting Officer of Federal Realty (NYSE: FRT) Steven R. Greathouse Senior Vice President & Chief Investment Officer ▪ Former Director of Finance for N3 Real Estate; Senior Associate of Merchant Banking – Investment Management at Morgan Stanley; and Senior Associate at Crescent Real Estate (NYSE: CEI) Lisa M. Vorakoun Senior Vice President & Chief Accounting Officer ▪ Former Assistant Finance Director of the City of DeLand, Florida and Audit Manager for James Moore & Company, an Accounting and Consulting Firm Matt J. Trau Vice President, Investments ▪ Former Senior Director of Transactions at ShopCore Properties; Senior Associate of Transactions at DDR Corp (currently Site Centers NYSE: SITC) Alexander M. Gordon Vice President, Leasing & Investments ▪ Former Senior Associate, Brokerage & Retail Advisory Services at CBRE (NYSE: CBRE)

22 © CTO Realty Growth, Inc. | ctoreit.com Forward Looking Statements & Non-GAAP Financial Measures Forward Looking Statements Certain statements contained in this presentation (other than statements of historical fact) are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can typically be identified by words such as “outlook,” “believe,” “estimate,” “expect,” “intend,” “anticipate,” “will,” “could,” “may,” “should,” “plan,” “potential,” “predict,” “forecast,” “project,” and similar expressions, as well as variations or negatives of these words. Although forward-looking statements are made based upon management’s present expectations and beliefs concerning future developments and their potential effect upon the Company, a number of factors could cause the Company’s actual results to differ materially from those set forth in the forward-looking statements. Such factors may include, but are not limited to: the Company’s ability to remain qualified as a REIT; the Company’s exposure to U.S. federal and state income tax law changes, including changes to the REIT requirements; general adverse economic and real estate conditions; macroeconomic and geopolitical factors, including but not limited to inflationary pressures, interest rate volatility, distress in the banking sector, global supply chain disruptions, and ongoing geopolitical war; credit risk associated with the Company investing in commercial loans and similarly structured investments; the ultimate geographic spread, severity and duration of pandemics such as the COVID-19 Pandemic and its variants, actions that may be taken by governmental authorities to contain or address the impact of such pandemics, and the potential negative impacts of such pandemics on the global economy and the Company’s financial condition and results of operations; the inability of major tenants or borrowers to continue paying their rent or obligations due to bankruptcy, insolvency or a general downturn in their business; the loss or failure, or decline in the business or assets of PINE; the completion of 1031 exchange transactions; the availability of investment properties that meet the Company’s investment goals and criteria; the uncertainties associated with obtaining required governmental permits and satisfying other closing conditions for planned acquisitions and sales; and the uncertainties and risk factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and other risks and uncertainties discussed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. There can be no assurance that future developments will be in accordance with management’s expectations or that the effect of future developments on the Company will be those anticipated by management. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances. Non-GAAP Financial Measures Our reported results are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). We also disclose Funds From Operations (“FFO”), Core Funds From Operations (“Core FFO”), Adjusted Funds From Operations (“AFFO”), Pro Forma Earnings Before Interest, Taxes, Depreciation and Amortization (“Pro Forma Adjusted EBITDA”), and Same-Property Net Operating Income (“Same-Property NOI”), each of which are non-GAAP financial measures. We believe these non-GAAP financial measures are useful to investors because they are widely accepted industry measures used by analysts and investors to compare the operating performance of REITs. FFO, Core FFO, AFFO, Pro Forma Adjusted EBITDA, and Same-Property NOI do not represent cash generated from operating activities and are not necessarily indicative of cash available to fund cash requirements; accordingly, they should not be considered alternatives to net income as a performance measure or cash flows from operating activities as reported on our statement of cash flows as a liquidity measure and should be considered in addition to, and not in lieu of, GAAP financial measures. We compute FFO in accordance with the definition adopted by the Board of Governors of the National Association of Real Estate Investment Trusts, or NAREIT. NAREIT defines FFO as GAAP net income or loss adjusted to exclude real estate related depreciation and amortization, as well as extraordinary items (as defined by GAAP) such as net gain or loss from sales of depreciable real estate assets, impairment write-downs associated with depreciable real estate assets and impairments associated with the current expected credit losses on commercial loans and investments at the time of origination and repayment, including the pro rata share of such adjustments of unconsolidated subsidiaries. The Company also excludes the gains or losses from sales of assets incidental to the primary business of the REIT which specifically include the sales of investment securities, in addition to the mark-to-market of the Company’s investment securities. To derive Core FFO, we modify the NAREIT computation of FFO to include other adjustments to GAAP net income related to gains and losses recognized on the extinguishment of debt, amortization of above- and below-market lease related intangibles, and other unforecastable market- or transaction-driven non-cash items.

23 © CTO Realty Growth, Inc. | ctoreit.com Non-GAAP Financial Measures Non-GAAP Financial Measures (continued) To derive AFFO, we further modify the NAREIT computation of FFO and Core FFO to include other adjustments to GAAP net income related to non-cash revenues and expenses such as straight-line rental revenue, non-cash compensation, and other non-cash amortization. Such items may cause short-term fluctuations in net income but have no impact on operating cash flows or long-term operating performance. We use AFFO as one measure of our performance when we formulate corporate goals. To derive Pro Forma Adjusted EBITDA, GAAP net income or loss attributable to the Company is adjusted to exclude real estate related depreciation and amortization, as well as extraordinary items (as defined by GAAP) such as net gain or loss from sales of depreciable real estate assets, impairment write-downs associated with depreciable real estate assets, impairments associated with the current expected credit losses on commercial loans and investments at the time of origination and repayment, including the pro rata share of such adjustments of unconsolidated subsidiaries, non-cash revenues and expenses such as straight-line rental revenue, amortization of deferred financing costs, gains and losses recognized on the extinguishment of debt, above- and below-market lease related intangibles, non-cash compensation, other non-recurring items such as termination fees, forfeitures of tenant security deposits, and other non-recurring items, and other non-cash income or expense. The Company also excludes the gains or losses from sales of assets incidental to the primary business of the REIT which specifically include the sales of investment securities, in addition to the mark-to-market of the Company’s investment securities. Cash interest expense is also excluded from Pro Forma Adjusted EBITDA, and GAAP net income or loss is adjusted for the annualized impact of acquisitions, dispositions and other similar activities. To derive Same-Property NOI, GAAP net income or loss attributable to the Company is adjusted to exclude real estate related depreciation and amortization, as well as extraordinary items (as defined by GAAP) such as net gain or loss from sales of depreciable real estate assets, impairment write-downs associated with depreciable real estate assets, impairments associated with the current expected credit losses on commercial loans and investments at the time of origination and repayment, including the pro rata share of such adjustments of unconsolidated subsidiaries, non-cash revenues and expenses such as straight-line rental revenue, amortization of deferred financing costs, gains and losses recognized on the extinguishment of debt, above- and below-market lease related intangibles, non-cash compensation, other non-recurring items such as termination fees, forfeitures of tenant security deposits, and other non-recurring items, and other non-cash income or expense. Interest expense, general and administrative expenses, investment and other income or loss, income tax benefit or expense, management fee income, and interest income from commercial loans and investments are also excluded from Same-Property NOI. GAAP net income or loss is further adjusted to remove the impact of properties that were not owned for the full current and prior year reporting periods presented. Cash rental income received under the leases pertaining to the Company’s assets that are presented as commercial loans and investments in accordance with GAAP is also used in lieu of the interest income equivalent. FFO is used by management, investors and analysts to facilitate meaningful comparisons of operating performance between periods and among our peers primarily because it excludes the effect of real estate depreciation and amortization and net gains or losses on sales, which are based on historical costs and implicitly assume that the value of real estate diminishes predictably over time, rather than fluctuating based on existing market conditions. We believe that Core FFO and AFFO are additional useful supplemental measures for investors to consider because they will help them to better assess our operating performance without the distortions created by other non-cash revenues or expenses. We also believe that Pro Forma Adjusted EBITDA is an additional useful supplemental measure for investors to consider as it allows for a better assessment of our operating performance without the distortions created by other non-cash revenues, expenses or certain effects of the Company’s capital structure on our operating performance. We use Same-Property NOI to compare the operating performance of our assets between periods. It is an accepted and important measurement used by management, investors and analysts because it includes all property-level revenues from the Company’s properties, less operating and maintenance expenses, real estate taxes and other property-specific expenses (“Net Operating Income” or “NOI”) of properties that have been owned and stabilized for the entire current and prior year reporting periods. Same-Property NOI attempts to eliminate differences due to the acquisition or disposition of properties during the particular period presented, and therefore provides a more comparable and consistent performance measure for the comparison of the Company’s properties. FFO, Core FFO, AFFO, Pro Forma Adjusted EBITDA, and Same-Property NOI may not be comparable to similarly titled measures employed by other companies.

24 © CTO Realty Growth, Inc. | ctoreit.com References References and terms used in this presentation that are in addition to terms defined in the Non-GAAP Financial Measures include: ▪ This presentation was published on April 28, 2026. ▪ All information is as of March 31, 2026, unless otherwise noted. ▪ Any calculation differences are assumed to be a result of rounding. ▪ “2026 Guidance” in this presentation is based on the 2026 Guidance provided in the Company’s First Quarter 2026 Operating Results press release filed on April 28, 2026. ▪ “Alpine” or “PINE” refers to Alpine Income Property Trust, a publicly traded net lease REIT traded on the New York Stock Exchange under the ticker symbol PINE. ▪ “Annualized Base Rent”, “ABR” or “Rent” and the statistics based on ABR are calculated based on the current portfolio and represent straight-line rent calculated in accordance with GAAP. ▪ “Annualized Cash Base Rent”, “Cash ABR” and the statistics based on Cash ABR are calculated based on the current portfolio and represent the annualized cash base rent calculated in accordance with GAAP due from the tenants at a specific point in time. ▪ “Credit Rated” is a tenant or the parent of a tenant with a credit rating from S&P Global Ratings, Moody’s Investors Service, Fitch Ratings or the National Association of Insurance Commissioners (NAIC) (together, the “Major Rating Agencies”). The Company defines an Investment Grade Rated Tenant as a tenant or the parent of a tenant with a credit rating from S&P Global Ratings, Moody’s Investors Service, Fitch Ratings or the National Association of Insurance Commissioners of Baa3, BBB-, or NAIC-2 or higher. If applicable, in the event of a split rating between S&P Global Ratings and Moody’s Investors Services, the Company utilizes the higher of the two ratings as its reference point as to whether a tenant is defined as an Investment Grade Rated Tenant. ▪ “Dividend” or “Dividends”, subject to the required dividends to maintain the Company’s qualification as a REIT, are set by the Board of Directors and declared on a quarterly basis and there can be no assurances as to the likelihood or number of dividends in the future. ▪ “Investment in Alpine Income Property Trust” or “Alpine Investment” or “PINE Ownership” is calculated based on the 2,471,556 common shares and partnership units CTO owns in PINE and is based on PINE’s closing stock price as of the referenced period on the respective slide. ▪ “Leased Occupancy” refers to space that is currently leased but for which rent payments have not yet commenced. ▪ “MSA” or “Metropolitan Statistical Area” is a region that consists of a city and surrounding communities that are linked by social and economic factors, as established by the U.S. Office of Management and Budget. The names of the MSA have been shortened for ease of reference. ▪ “Net Debt” is calculated as total long-term debt as presented on the face of the balance sheet; plus financing costs, net of accumulated amortization and unamortized convertible debt discount; less cash, restricted cash and cash equivalents. ▪ “Net Operating Income” or “NOI” is revenues from all income properties less operating expense, maintenance expense, real estate taxes and rent expense. ▪ “Total Enterprise Value” is calculated as the Company’s Total Common Shares Outstanding multiplied by the common stock price; plus the par value of the Series A perpetual preferred equity outstanding and Net Debt.

25 © CTO Realty Growth, Inc. | ctoreit.com Consolidated Statements of Operations (In thousands, except share, per share and dividend data) (Unaudited) Three Months Ended March 31, 2026 2025 Revenues Income Properties $ 36,580 $ 31,672 Management Fee Income 1,349 1,178 Interest Income From Commercial Loans and Investments 3,244 2,961 Total Revenues 41,173 35,811 Direct Cost of Revenues Income Properties (10,168) (8,891) Total Direct Cost of Revenues (10,168) (8,891) General and Administrative Expenses (5,077) (4,683) Provision for Impairment and Adjustment to CECL Reserve 321 — Depreciation and Amortization (15,956) (14,364) Total Operating Expenses (30,880) (27,938) Total Operating Income 10,293 7,873 Investment and Other Income 3,243 575 Interest Expense (7,271) (6,136) Income Before Income Tax Expense 6,265 2,312 Income Tax Expense (60) (51) Net Income Attributable to the Company 6,205 2,261 Distributions to Preferred Stockholders (1,878) (1,878) Net Income Attributable to Common Stockholders $ 4,327 $ 383 Per Share Information: Basic and Diluted Net Income Attributable to Common Stockholders $ 0.13 $ 0.01 Weighted Average Number of Common Shares Basic 32,519,156 31,552,973 Diluted 32,522,938 31,595,431

26 © CTO Realty Growth, Inc. | ctoreit.com Non-GAAP Financial Measures (In thousands, except share, per share and dividend data) (Unaudited) Three Months Ended March 31, 2026 2025 Net Income Attributable to the Company $ 6,205 $ 2,261 Adjustments: Depreciation and Amortization of Real Estate 15,938 14,346 Provision for Impairment and Adjustment to CECL Reserve (321) — Realized and Unrealized Loss (Gain) on Investment Securities (2,103) 165 Funds from Operations $ 19,719 $ 16,772 Distributions to Preferred Stockholders (1,878) (1,878) Funds From Operations Attributable to Common Stockholders $ 17,841 $ 14,894 Adjustments: Amortization of Intangibles to Lease Income (910) (449) Core Funds From Operations Attributable to Common Stockholders $ 16,931 $ 14,445 Adjustments: Straight-Line Rent Adjustment (440) (573) Other Depreciation and Amortization — (1) Amortization of Loan Costs, Discount on Convertible Debt, and Capitalized Interest 341 367 Non-Cash Compensation 1,406 1,283 Adjusted Funds From Operations Attributable to Common Stockholders $ 18,238 $ 15,521 FFO Attributable to Common Stockholders per Common Share - Diluted $ 0.55 $ 0.47 Core FFO Attributable to Common Stockholders per Common Share - Diluted $ 0.52 $ 0.46 AFFO Attributable to Common Stockholders per Common Share - Diluted $ 0.56 $ 0.49 Supplemental Disclosure: PIK Interest Earned $ 8 $ — PIK Interest Paid — — PIK Interest Earned in Excess of PIK Interest Paid $ 8 $ —

27 © CTO Realty Growth, Inc. | ctoreit.com Same-Property NOI Reconciliation 1. Includes non-recurring items such as termination fees, forfeitures of tenant security deposits, and other non-recurring items. (In thousands) (Unaudited) Three Months Ended March 31, 2026 2025 Net Income Attributable to the Company $ 6,205 $ 2,261 Provision for Impairment and Adjustment to CECL Reserve (321) — Depreciation and Amortization 15,956 14,364 Amortization of Intangibles to Lease Income 910 449 Straight-Line Rent Adjustment 440 573 Accretion of Tenant Contribution 13 13 Interest Expense 7,271 6,136 General and Administrative Expenses 5,077 4,683 Investment and Other Income (3,243) (575) Income Tax Expense 60 51 Management Fee Income (1,349) (1,178) Interest Income From Commercial Loans and Investments (3,244) (2,961) Other Non-Recurring Items (1) (191) (110) Less: Impact of Properties Not Owned for the Full Reporting Period (6,790) (3,596) Same-Property NOI $ 20,794 $ 20,110 Less: Same Property NOI for Other Properties (559) (1,164) Same-Property NOI for Shopping Centers $ 20,235 $ 18,946

28 © CTO Realty Growth, Inc. | ctoreit.com Net Debt to Pro Forma Adjusted EBITDA 1. Includes non-recurring items such as termination fees, forfeitures of tenant security deposits, and other non-recurring items. 2. Reflects the pro forma annualized impact on Annualized Adjusted EBITDA of the Company’s investments and disposition activity during the three months ended March 31, 2026. (In thousands) (Unaudited) Three Months Ended March 31, 2026 Net Income Attributable to the Company $ 6,205 Depreciation and Amortization of Real Estate 15,938 Provision for Impairment and Adjustment to CECL Reserve (321) Unrealized Gain & Realized Loss on Investment Securities (2,103) Distributions to Preferred Stockholders (1,878) Amortization of Intangibles to Lease Income (910) Straight-Line Rent Adjustment (440) Amortization of Loan Costs and Capitalized Interest 341 Non-Cash Compensation 1,406 Other Non-Recurring Items (1) (601) Interest Expense, Net of Amortization of Loan Costs 6,930 Adjusted EBITDA $ 24,567 Annualized Adjusted EBITDA $ 98,268 Pro Forma Annualized Impact of Current Quarter Investments and Dispositions, Net (2) 1,585 Pro Forma Adjusted EBITDA $ 99,853 Total Long-Term Debt $ 649,532 Financing Costs, Net of Accumulated Amortization 2,268 Cash and Cash Equivalents (8,282) Net Debt $ 643,518 Net Debt to Pro Forma Adjusted EBITDA 6.4 x

Investor Inquiries: ir@ctoreit.com

Exhibit 99.3

8 CTO Realty Growth Quarterly Supplemental 1 st Quarter 2026 Investor Relations ir@ctoreit.com 369 N New York Ave., Suite 201 Winter Park, FL 32789 https://www.ctoreit.com/ Ashley Park Atlanta, GA 1

© CTO Realty Growth, Inc. | ctoreit.com 9 Table of Contents March 31, 2026 Press Release First Quarter 2026 Earnings Press Release 3 Financial Summary Results Overview & Guidance 10 Consolidated Balance Sheets 11 Consolidated Statements of Operations 12 Funds from Operations 13 Supplemental Schedule of Same-Property Net Operating Income 14 Adjusted EBITDA 15 Market Capitalization, Debt Ratios and Liquidity 16 Debt Summary 17 Real Estate Portfolio Capital Investments 18 Leasing Summary Top Tenant Summary 19 Retail Leasing Activity 20 Lease Expiration Schedule 21 Portfolio & Investment Summary Investments, Dispositions & Structured Investment Repayments 22 Portfolio Summary 23 Geographic Diversification 24 Other Investments 25 Additional Disclosures 2026 Guidance 26 Contact Information & Research Coverage 27 2

Page 3 DRAFT DRATDDD Press Release FIRST 2024 OPERATING RESULTS FOR IMMEDIATE RELEASE CTO REALTY GROWTH REPORTS FIRST QUARTER 2026 OPERATING AND FINANCIAL RESULTS – Completed an $81.6 Million Acquisition – – $6.2 Million Signed-Not-Open Pipeline at Quarter-End – – Raises 2026 Investment Guidance to $175 Million to $250 Million – – Increases 2026 Core FFO Per Diluted Share Guidance to $2.06 to $2.11 – WINTER PARK, FL – April 28, 2026 – CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”), an owner and operator of shopping centers located primarily in higher-growth markets, today announced its operating and financial results for the quarter ended March 31, 2026. Net Income attributable to common stockholders was $0.13 per diluted share for the first quarter. First Quarter 2026 Highlights ▪ Core Funds from Operations (“Core FFO”) attributable to common stockholders of $0.52 per diluted share. ▪ Adjusted Funds from Operations (“AFFO”) attributable to common stockholders of $0.56 per diluted share. ▪ Shopping center same-property net operating income (“NOI”) increased by 6.8%. Excluding certain non-recurring recovery benefits, shopping center same property NOI increased by 4.2% versus the comparable 2025 period. ▪ Executed 146,000 square feet of comparable retail leases at a positive cash rent spread of 14%. ▪ Acquired Palms Crossing, a 399,000 square foot open-air retail center located in McAllen, Texas, for $81.6 million. ▪ Watters Creek preferred investment of $30.0 million was repaid in full. Subsequent Event ▪ On April 17, 2026, invested $75.0 million of preferred equity in a Class A premier retail property located in the Southwest. The investment generates a 12.0% initial cash yield with a two-year term. “We’re off to a strong start in 2026 on all fronts, with robust leasing, strong same-center NOI growth, and an acquisition of a high-quality open-air retail center in Texas, one of our core markets,” stated John P. Albright, President and Chief Executive Officer of CTO Realty Growth. “Further, we see meaningful tailwinds in the coming quarters driven by our $6.2 million SNO pipeline, which represents 5.5% of in-place cash ABR. We are particularly pleased with our acquisition of Palms Crossing which aligns well with our strategy to acquire high-quality, well-located retail centers with embedded future rent growth and anchored by strong national retailers.”

Page 4 Financial Results (in thousands, except per share data) 1Q 2026 1Q 2025 Net Income $ 6,205 $ 2,261 Net Income per Common Share - Diluted $ 0.13 $ 0.01 Core FFO $ 16,931 $ 14,445 Core FFO per Common Share - Diluted $ 0.52 $ 0.46 AFFO $ 18,238 $ 15,521 AFFO per Common Share - Diluted $ 0.56 $ 0.49 Metrics reflect amounts attributable to common stockholders. Refer to “Non-GAAP Financial Measures” for definitions and additional detail. Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are provided in the tables accompanying this press release. First Quarter Portfolio Performance Retail Leasing Activity ▪ The Company executed 25 new leases, renewals and extensions totaling 153,000 square feet. On a comparable space basis, the Company executed 146,000 square feet of leases at an average cash rent spread increase of 14%. Same Property NOI ▪ Shopping center same property NOI increased by 6.8% versus the comparable 2025 period. Excluding certain non-recurring recovery benefits, shopping center same property NOI increased by 4.2% versus the comparable 2025 period. ▪ Including other/non-core properties, same-property NOI increased by 3.4% for the first quarter. This growth was impacted by one tenant vacating 98,000 of our 212,000 square feet Albuquerque, New Mexico property in December 2025, which more than offset the non-recurring recovery benefits recorded in the quarter. As previously announced, this vacancy was leased by the State of New Mexico which is expected to comment paying rent in late 2026. Occupancy ▪ As of March 31, 2026, total property portfolio leased occupancy was 95.4%, up 160 basis points compared to March 31, 2025, and a decrease of 50 basis points compared to December 31, 2025. ▪ As of March 31, 2026, same-property shopping center portfolio leased occupancy was 95.0%, up 30 basis points compared to March 31, 2025. First Quarter Investment and Disposition Activity Investment Activity ▪ The Company acquired Palms Crossing, a 399,000 square foot open-air retail center located in McAllen, Texas, for a purchase price of $81.6 million. Palms Crossing is currently 98% leased, anchored by Best Buy, Hobby Lobby, Burlington Coat Factory, Barnes & Noble and Nike. The Property is located on 47 acres, and features two pad sites for potential future development opportunities.

Page 5 Disposition & Structured Investment Repayment Activity ▪ The Company’s preferred investment in Watters Creek Village, a grocery-anchored, mixed-use property located in Allen, Texas, was repaid in full for $30.0 million. Balance Sheet and Liquidity Balance sheet highlights as of March 31, 2026, included: ▪ Total liquidity of $124.3 million, consisting of $116.0 million of undrawn commitments and $8.3 million of cash on hand. ▪ Total borrowings of $651.8 million at a weighted average interest rate of 4.6%, including $634.0 million of unsecured borrowings and a $17.8 million mortgage payable. ▪ Net Debt to Pro Forma Adjusted EBITDA of 6.4 times. ▪ During the quarter ended March 31, 2026, the Company issued 733,883 common shares under its common stock ATM program at a weighted average gross price of $19.59 per share, for total net proceeds of $14.2 million. ▪ The Company’s only 2026 loan maturity is a $17.8 million mortgage note payable, maturing in August at an interest rate of 4.06%. ▪ Classified Madison Yards located in Atlanta, Georgia as held for sale with an expected close in May. 2026 Outlook The Company is revising its 2026 outlook. The Company’s 2026 guidance is based on current plans and a number of assumptions and is subject to risks and uncertainties, many of which are outside the Company’s control, and are more fully described in this press release and in the Company's reports filed with the U.S. Securities and Exchange Commission. The Company has raised its 2026 outlook as follows: (Unaudited) Current Previous Core FFO per Common Share - Diluted $2.06 to $2.11 $1.98 to $2.03 AFFO per Common Share - Diluted $2.19 to $2.24 $2.11 to $2.16 Metrics above reflect amounts attributable to common stockholders. The Company’s revised 2026 outlook includes but is not limited to the following assumptions (dollars in millions): Current Previous Investment Volume, Including Commercial Loans & Structured Investments $175 to $250 $100 to $200 Same-Property NOI Growth for Shopping Centers Unchanged 3.5% to 4.5% General & Administrative Expenses $19.7 to $20.2 $19.5 to $20.0

Page 6 Reconciliation of the outlook range of the Company’s 2026 estimated Net Income Attributable to the Company per Diluted Share to estimated Core FFO Attributable to Common Stockholders per Diluted Share, and AFFO Attributable to Common Stockholders per Diluted Share: Revised 2026 Outlook (Unaudited) Low High Net Income Attributable to the Company per Common Share - Diluted $ 0.53 $ 0.59 Depreciation and Amortization of Real Estate 1.90 1.90 Provision for Impairment and Adjustment to CECL Reserve (1) (0.01) (0.01) Realized and Unrealized Loss (Gain) on Investment Securities (1) (0.06) (0.06) Funds from Operations, per Common Share - Diluted $ 2.36 $ 2.42 Distributions to Preferred Stockholders (0.21) (0.21) Funds From Operations Attributable to Common Stockholders per Common Share - Diluted $ 2.15 $ 2.21 Amortization of Intangibles to Lease Income (0.09) (0.10) Core FFO Attributable to Common Stockholders per Common Share - Diluted $ 2.06 $ 2.11 Adjustments: Straight-Line Rent Adjustment (0.04) (0.04) Other Depreciation and Amortization - - Amortization of Loan Costs and Capitalized Interest 0.03 0.03 Non-Cash Compensation 0.14 0.14 AFFO Attributable to Common Stockholders per Common Share - Diluted $ 2.19 $ 2.24 (1) Provision for Impairment and Adjustment to CECL Reserve and Realized and Unrealized Loss (Gain) on Investment Securities represents the actual adjustment for the three months ended March 31, 2026. The Company’s outlook excludes projections related to these measures. Earnings Conference Call & Webcast The Company will host a conference call to present its operating results for the first quarter ended March 31, 2026, on Wednesday, April 29, 2026 at 9:00 AM ET. A live webcast of the call will be available on the Investor Relations page of the Company’s website at www.ctoreit.com or at the link provided in the event details below. To access the call by phone, please go to the registration link provided in the event details below and you will be provided with dial-in details. Event Details: Webcast: https://edge.media-server.com/mmc/p/7a2jh3xw Registration: https://register-conf.media-server.com/register/BI44d0a9de51204a7a9115883fa90899d4 We encourage participants to register and dial into the conference call at least fifteen minutes ahead of the scheduled start time. A replay of the earnings call will be archived and available online through the Investor Relations section of the Company’s website at www.ctoreit.com.

Page 7 About CTO Realty Growth, Inc. CTO Realty Growth, Inc. is a publicly traded real estate investment trust that owns and operates a portfolio of high-quality shopping centers, located primarily in higher growth markets in the United States. CTO also externally manages and owns a meaningful interest in Alpine Income Property Trust, Inc. (NYSE: PINE), a publicly traded net lease REIT. We encourage you to review our most recent investor presentation and supplemental financial information, which is available on our website at www.ctoreit.com. Contact: Investor Relations ir@ctoreit.com Safe Harbor Certain statements contained in this press release (other than statements of historical fact) are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can typically be identified by words such as “outlook,” “believe,” “estimate,” “expect,” “intend,” “anticipate,” “will,” “could,” “may,” “should,” “plan,” “potential,” “predict,” “forecast,” “project,” and similar expressions, as well as variations or negatives of these words. Although forward-looking statements are made based upon management’s present expectations and beliefs concerning future developments and their potential effect upon the Company, a number of factors could cause the Company’s actual results to differ materially from those set forth in the forward-looking statements. Such factors may include, but are not limited to: the Company’s ability to remain qualified as a REIT; the Company’s exposure to U.S. federal and state income tax law changes, including changes to the REIT requirements; general adverse economic and real estate conditions; macroeconomic and geopolitical factors, including but not limited to inflationary pressures, interest rate volatility, distress in the banking sector, global supply chain disruptions, and ongoing geopolitical war; credit risk associated with the Company investing in commercial loans and similarly structured investments; the ultimate geographic spread, severity and duration of pandemics such as the COVID-19 Pandemic and its variants, actions that may be taken by governmental authorities to contain or address the impact of such pandemics, and the potential negative impacts of such pandemics on the global economy and the Company’s financial condition and results of operations; the inability of major tenants or borrowers to continue paying their rent or obligations due to bankruptcy, insolvency or a general downturn in their business; the loss or failure, or decline in the business or assets of PINE; the completion of 1031 exchange transactions; the availability of investment properties that meet the Company’s investment goals and criteria; the uncertainties associated with obtaining required governmental permits and satisfying other closing conditions for planned acquisitions and sales; and the uncertainties and risk factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and other risks and uncertainties discussed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. There can be no assurance that future developments will be in accordance with management’s expectations or that the effect of future developments on the Company will be those anticipated by management. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.

Page 8 Non-GAAP Financial Measures Our reported results are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). We also disclose Funds From Operations (“FFO”), Core Funds From Operations (“Core FFO”), Adjusted Funds From Operations (“AFFO”), Pro Forma Earnings Before Interest, Taxes, Depreciation and Amortization (“Pro Forma Adjusted EBITDA”), and Same-Property Net Operating Income (“Same-Property NOI”), each of which are non-GAAP financial measures. We believe these non-GAAP financial measures are useful to investors because they are widely accepted industry measures used by analysts and investors to compare the operating performance of REITs. FFO, Core FFO, AFFO, Pro Forma Adjusted EBITDA, and Same-Property NOI do not represent cash generated from operating activities and are not necessarily indicative of cash available to fund cash requirements; accordingly, they should not be considered alternatives to net income as a performance measure or cash flows from operating activities as reported on our statement of cash flows as a liquidity measure and should be considered in addition to, and not in lieu of, GAAP financial measures. We compute FFO in accordance with the definition adopted by the Board of Governors of the National Association of Real Estate Investment Trusts, or NAREIT. NAREIT defines FFO as GAAP net income or loss adjusted to exclude real estate related depreciation and amortization, as well as extraordinary items (as defined by GAAP) such as net gain or loss from sales of depreciable real estate assets, impairment write-downs associated with depreciable real estate assets and impairments associated with the current expected credit losses on commercial loans and investments at the time of origination and repayment, including the pro rata share of such adjustments of unconsolidated subsidiaries. The Company also excludes the gains or losses from sales of assets incidental to the primary business of the REIT which specifically include the sales of investment securities, in addition to the mark-to-market of the Company’s investment securities. To derive Core FFO, we modify the NAREIT computation of FFO to include other adjustments to GAAP net income related to gains and losses recognized on the extinguishment of debt, amortization of above- and below-market lease related intangibles, and other unforecastable market- or transaction-driven non-cash items. To derive AFFO, we further modify the NAREIT computation of FFO and Core FFO to include other adjustments to GAAP net income related to non-cash revenues and expenses such as straight-line rental revenue, non-cash compensation, and other non-cash amortization. Such items may cause short-term fluctuations in net income but have no impact on operating cash flows or long-term operating performance. We use AFFO as one measure of our performance when we formulate corporate goals. To derive Pro Forma Adjusted EBITDA, GAAP net income or loss attributable to the Company is adjusted to exclude real estate related depreciation and amortization, as well as extraordinary items (as defined by GAAP) such as net gain or loss from sales of depreciable real estate assets, impairment write-downs associated with depreciable real estate assets, impairments associated with the current expected credit losses on commercial loans and investments at the time of origination and repayment, including the pro rata share of such adjustments of unconsolidated subsidiaries, non-cash revenues and expenses such as straight-line rental revenue, amortization of deferred financing costs, gains and losses recognized on the extinguishment of debt, above- and below-market lease related intangibles, non-cash compensation, other non-recurring items such as termination fees, forfeitures of tenant security deposits, and other non-recurring items, and other non-cash income or expense. The Company also excludes the gains or losses from sales of assets incidental to the primary business of the REIT which specifically include the sales of investment securities, in addition to the mark-to-market of the Company’s investment securities. Cash interest expense is also excluded from Pro Forma Adjusted EBITDA, and GAAP net income or loss is adjusted for the annualized impact of acquisitions, dispositions and other similar activities.

Page 9 To derive Same-Property NOI, GAAP net income or loss attributable to the Company is adjusted to exclude real estate related depreciation and amortization, as well as extraordinary items (as defined by GAAP) such as net gain or loss from sales of depreciable real estate assets, impairment write-downs associated with depreciable real estate assets, impairments associated with the current expected credit losses on commercial loans and investments at the time of origination and repayment, including the pro rata share of such adjustments of unconsolidated subsidiaries, non-cash revenues and expenses such as straight-line rental revenue, amortization of deferred financing costs, gains and losses recognized on the extinguishment of debt, above- and below-market lease related intangibles, non-cash compensation, other non-recurring items such as termination fees, forfeitures of tenant security deposits, and other non-recurring items, and other non-cash income or expense. Interest expense, general and administrative expenses, investment and other income or loss, income tax benefit or expense, management fee income, and interest income from commercial loans and investments are also excluded from Same-Property NOI. GAAP net income or loss is further adjusted to remove the impact of properties that were not owned for the full current and prior year reporting periods presented. Cash rental income received under the leases pertaining to the Company’s assets that are presented as commercial loans and investments in accordance with GAAP is also used in lieu of the interest income equivalent. FFO is used by management, investors and analysts to facilitate meaningful comparisons of operating performance between periods and among our peers primarily because it excludes the effect of real estate depreciation and amortization and net gains or losses on sales, which are based on historical costs and implicitly assume that the value of real estate diminishes predictably over time, rather than fluctuating based on existing market conditions. We believe that Core FFO and AFFO are additional useful supplemental measures for investors to consider because they will help them to better assess our operating performance without the distortions created by other non-cash revenues or expenses. We also believe that Pro Forma Adjusted EBITDA is an additional useful supplemental measure for investors to consider as it allows for a better assessment of our operating performance without the distortions created by other non-cash revenues, expenses or certain effects of the Company’s capital structure on our operating performance. We use Same-Property NOI to compare the operating performance of our assets between periods. It is an accepted and important measurement used by management, investors and analysts because it includes all property-level revenues from the Company’s properties, less operating and maintenance expenses, real estate taxes and other property-specific expenses (“Net Operating Income” or “NOI”) of properties that have been owned and stabilized for the entire current and prior year reporting periods. Same-Property NOI attempts to eliminate differences due to the acquisition or disposition of properties during the particular period presented, and therefore provides a more comparable and consistent performance measure for the comparison of the Company’s properties. FFO, Core FFO, AFFO, Pro Forma Adjusted EBITDA, and Same-Property NOI may not be comparable to similarly titled measures employed by other companies.

© CTO Realty Growth, Inc. | ctoreit.com 10 Results Overview & Guidance For the quarter ended March 31, 2026 (unaudited; in thousands, except share, per share and per square foot amounts) Quarter ended March 31, 2026 Financial Results Total Revenues (page 12) $ 41,173 Net Income Attributable to Common Shareholders (Page 12) $ 4,327 Net Income per Diluted Share $ 0.13 Funds from Operations (FFO) (page 13) $ 17,840 FFO per Diluted Share $ 0.55 Core FFO (page 13) $ 16,931 Core FFO per Diluted Share $ 0.52 AFFO (page 13) $ 18,238 AFFO per Diluted Share $ 0.56 Same Property NOI for Shopping Centers (page 14) $ 20,235 % Growth 6.8% Preferred Dividend Declared per Share $ 0.40 Common Dividends Declared per Share $ 0.38 Q1 2026 Core FFO Payout Ratio 73.1% Q1 2026 AFFO Payout Ratio 67.9% Weighted Average Diluted Shares 32,522,938 Debt Metrics Net Debt to Pro Forma Adjusted EBITDA 6.4x Net Debt to Enterprise Value 46.7% Fixed Charge Coverage 3.0x Property Data Number of Properties 22 Square Footage 5,904,026 Cash Rent PSF $ 20.83 Leased Occupancy 95.4% Occupancy 90.9% 2026 Guidance Core FFO per Diluted Share $2.06 - $2.11 AFFO per Diluted Share $2.19 - $2.24 Same Property NOI Growth for Shopping Centers 3.5% - 4.5% These metrics should be read in conjunction with the Company's most recent Form 10-Q filed with the Securities and Exchange Commission

© CTO Realty Growth, Inc. | ctoreit.com 11 Consolidated Balance Sheets As of March 31, 2026 and December 31, 2025 (in thousands, except share and per share data) As of (Unaudited) March 31, 2026 December 31, 2025 ASSETS Real Estate: Land, at Cost $ 278,594 $ 289,012 Building and Improvements, at Cost 778,031 766,371 Other Furnishings and Equipment, at Cost 923 923 Construction in Process, at Cost 4,913 4,091 Total Real Estate, at Cost 1,062,461 1,060,397 Less, Accumulated Depreciation (110,422) (107,268) Real Estate—Net 952,039 953,129 Land and Development Costs — 300 Intangible Lease Assets—Net 86,479 84,710 Assets Held for Sale 72,126 — Investment in Alpine Income Property Trust, Inc. 44,488 41,324 Commercial Loans and Investments 80,713 104,804 Cash and Cash Equivalents 8,282 6,467 Restricted Cash 10,587 34,652 Deferred Income Taxes—Net 2,309 2,309 Other Assets 42,644 36,207 Total Assets $ 1,299,667 $ 1,263,902 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities: Accounts Payable $ 1,852 $ 1,709 Accrued and Other Liabilities 23,386 28,185 Deferred Revenue 16,911 18,802 Intangible Lease Liabilities—Net 32,562 31,486 Income Taxes Payable 61 29 Long-Term Debt—Net 649,532 616,345 Total Liabilities 724,304 696,556 Stockholders’ Equity: Preferred Stock 47 47 Common Stock 333 324 Additional Paid-In Capital 396,749 382,494 Retained Earnings 176,442 184,886 Accumulated Other Comprehensive Income (Loss) 1,792 (405) Total Stockholders’ Equity 575,363 567,346 Total Liabilities and Stockholders’ Equity $ 1,299,667 $ 1,263,902 These consolidated balance sheets should be read in conjunction with the Company's most recent Form 10-Q filed with the Securities and Exchange Commission

© CTO Realty Growth, Inc. | ctoreit.com 12 Three Months Ended March 31, 2026 2025 Revenues Income Properties $ 36,580 $ 31,672 Management Fee Income 1,349 1,178 Interest Income From Commercial Loans and Investments 3,244 2,961 Total Revenues 41,173 35,811 Direct Cost of Revenues Income Properties (10,168) (8,891) Total Direct Cost of Revenues (10,168) (8,891) General and Administrative Expenses (5,077) (4,683) Provision for Impairments and Adjustment to CECL Reserve 321 — Depreciation and Amortization (15,956) (14,364) Total Operating Expenses (30,880) (27,938) Total Operating Income 10,293 7,873 Investment and Other Income 3,243 575 Interest Expense (7,271) (6,136) Income Before Income Tax Expense 6,265 2,312 Income Tax Expense (60) (51) Net Income Attributable to the Company 6,205 2,261 Distributions to Preferred Stockholders (1,878) (1,878) Net Income Attributable to Common Stockholders $ 4,327 $ 383 Per Share Information: Basic and Diluted Net Income Attributable to Common Stockholders $ 0.13 $ 0.01 Weighted Average Number of Common Shares Basic 32,519,156 31,552,973 Diluted 32,522,938 31,595,431 Dividends Declared and Paid - Preferred Stock $ 0.40 $ 0.40 Dividends Declared and Paid - Common Stock $ 0.38 $ 0.38 Consolidated Statements of Operations For the quarters ended March 31, 2026 and 2025 (unaudited; in thousands, except share, per share and dividend data) These consolidated statements of operations should be read in conjunction with the Company's most recent Form 10-Q filed with the Securities and Exchange Commission

© CTO Realty Growth, Inc. | ctoreit.com 13 Funds from Operations For the quarters ended March 31, 2026 and 2025 (unaudited; in thousands, except per share data) This schedule of Funds from Operations should be read in conjunction with the Company's most recent Form 10-Q filed with the Securities and Exchange Commission Three Months Ended March 31, 2026 2025 Net Income Attributable to the Company $ 6,205 $ 2,261 Distributions to Preferred Stockholders (1,878) (1,878) Adjustments: Depreciation and Amortization of Real Estate 15,938 14,346 Provision for Impairment and Adjustment to CECL Reserve (321) — Realized and Unrealized Loss (Gain) on Investment Securities (2,103) 165 FFO $ 17,841 $ 14,894 Amortization of Intangibles to Lease Income (910) (449) Core FFO $ 16,931 $ 14,445 Adjustments: Straight-Line Rent Adjustment (440) (573) Other Depreciation and Amortization — (1) Amortization of Loan Costs, Discount on Convertible Debt, and Capitalized Interest 341 367 Non-Cash Compensation 1,406 1,283 AFFO $ 18,238 $ 15,521 Per Common Diluted Share: FFO $ 0.55 $ 0.47 Core FFO $ 0.52 $ 0.46 AFFO $ 0.56 $ 0.49 Supplemental Disclosure: PIK Interest Earned $ 8 $ — PIK Interest Paid — — PIK Interest Earned in Excess of PIK Interest Paid $ 8 $ —

© CTO Realty Growth, Inc. | ctoreit.com 14 Supplemental Schedule of Same-Property Net Operating Income For the quarters ended March 31, 2026 and 2025 (unaudited; in thousands) 1. Includes non-recurring items such as termination fees, forfeitures of tenant security deposits, and other non-recurring items. 2. Excluding certain non-recurring recovery benefits, shopping center same property NOI increased by 4.2% versus the comparable 2025 period. Same-Property NOI for Shopping Centers Three Months Ended March 31, 2026 2025 Base Rents $ 20,665 $ 19,695 Expense Recoveries 6,246 5,828 Other Income 662 566 Total Revenues 27,573 26,088 Operating Expenses (7,338) (7,143) Same-Property NOI for Shopping Centers $ 20,235 $ 18,946 Same-Property NOI Growth for Shopping Centers (1) 6.8% Same-Property Occupancy 91.6% 92.2% Same-Property Leased Occupancy 95.0% 94.7% Cash ABR per Square Foot $21.92 $21.38 Number of Same Properties 15 Same-Property NOI Reconciliation Three Months Ended March 31, 2026 2025 Net Income Attributable to the Company $ 6,205 2,261 Provision for Impairment and Adjustment to CECL Reserve (321) — Depreciation and Amortization 15,956 14,364 Amortization of Intangibles to Lease Income 910 449 Straight-Line Rent Adjustment 440 573 Accretion of Tenant Contribution 13 13 Interest Expense 7,271 6,136 General and Administrative Expenses 5,077 4,683 Investment and Other Income (3,243) (575) Income Tax Expense 60 51 Management Fee Income (1,349) (1,178) Interest Income From Commercial Loans and Investments (3,244) (2,961) Other Non-Recurring Items (2) (191) (110) Less: Impact of Properties Not Owned for the Full Reporting Period (6,790) (3,596) Same-Property NOI $ 20,794 20,110 Less: Same Property NOI for Other Properties (559) (1,164) Same-Property NOI for Shopping Centers $ 20,235 18,946

© CTO Realty Growth, Inc. | ctoreit.com 15 Pro Forma Adjusted EBITDA Three Months Ended March 31, 2026 (unaudited; in thousands) Three Months Ended March 31, 2026 Net Income Attributable to the Company $ 6,205 Depreciation and Amortization of Real Estate 15,938 Provision for Impairment and Adjustment to CECL Reserve (321) Unrealized Gain & Realized Loss on Investment Securities (2,103) Distributions to Preferred Stockholders (1,878) Amortization of Intangibles to Lease Income (910) Straight-Line Rent Adjustment (440) Amortization of Loan Costs and Capitalized Interest 341 Non-Cash Compensation 1,406 Other Non-Recurring Items (1) (601) Interest Expense, Net of Amortization of Loan Costs 6,930 Adjusted EBITDA $ 24,567 Annualized Adjusted EBITDA $ 98,268 Pro Forma Annualized Impact of Current Quarter Investments and Dispositions, Net (2) 1,585 Pro Forma Adjusted EBITDA $ 99,853 Total Long-Term Debt $ 649,532 Financing Costs, Net of Accumulated Amortization 2,268 Cash and Cash Equivalents (8,282) Net Debt $ 643,518 Net Debt to Pro Forma Adjusted EBITDA 6.4 x 1. Includes non-recurring items such as termination fees, forfeitures of tenant security deposits, and other non-recurring items. 2. Reflects the pro forma annualized impact on Annualized Adjusted EBITDA of the Company’s investments and disposition activity during the three months ended March 31, 2026.

© CTO Realty Growth, Inc. | ctoreit.com 16 Market Capitalization, Debt Ratios and Liquidity As of March 31, 2026 (unaudited; in thousands, except per share amounts and market price) Any differences are a result of rounding. 1. Net debt to Pro Forma Adjusted EBITDA is calculated based on first quarter 2026 annualized Adjusted EBITDA. March 31, 2026 Common Share Price $ 18.49 Common Shares Outstanding 33,293 Total Common Equity Market Capitalization $ 615,596 Series A Preferred Par Value Per Share $ 25.00 Series A Preferred Shares Outstanding 4,713 Series A Preferred Par Value $ 117,827 Total Equity Capitalization $ 733,423 Total Debt Outstanding $ 651,800 Cash and Cash Held in Like-Kind Exchange Escrow Accounts (8,281) Net Debt $ 643,519 Total Enterprise Value $ 1,372,502 Net Debt to Pro Forma Adjusted EBITDA1 6.4 x Net Debt to Total Enterprise Value 46.7% Fixed Charge Coverage Ratio 3.0 x Cash and Cash Held in Like-Kind Exchange Escrow Accounts $ 8,281 Available under Unsecured Credit Facility 116,000 Total Liquidity $ 124,281

© CTO Realty Growth, Inc. | ctoreit.com 17 Debt Summary As of March 31, 2026 (unaudited; dollars in thousands) Any differences are a result of rounding. 1. Interest rate is calculated as 30-day SOFR + 10 bps + pricing tier based on leverage within the range of 1.25%-2.20% 2. Interest rate is calculated as 30-day SOFR + 10 bps + pricing tier based on leverage within the range of 1.20%-2.15% 3. Interest rate is calculated as 30-day SOFR + pricing tier based on leverage within the range of 1.20%-2.15% Indebtedness Outstanding Face Value Weighted Avg. Rate Initial Maturity Date Type Mortgage Note $17,800 4.06% Aug. 2026 Fixed Revolving Credit Facility 1 134,000 5.13% Jan. 2027 Floating Revolving Credit Facility 1 50,000 5.30% Jan. 2027 Fixed 2027 Term Loan 1 100,000 2.80% Jan. 2027 Fixed 2028 Term Loan 2 100,000 5.18% Jan. 2028 Fixed 2029 Term Loan 3 125,000 4.67% Sep. 2029 Fixed 2030 Term Loan 3 125,000 4.69% Sep. 2030 Fixed Total / Weighted Average $651,800 4.59% Year Outstanding Weighted Average Rate % of Debt Maturing Cumulative % of Debt Maturing 2026 $17,800 4.06% 3% 3% 2027 284,000 4.34% 44% 46% 2028 100,000 5.18% 15% 62% 2029 125,000 4.67% 19% 81% 2030 125,000 4.69% 19% 100% Total / Weighted Average $651,800 4.59% 100%

© CTO Realty Growth, Inc. | ctoreit.com 18 Real Estate Portfolio Capital Investments For the quarters ended March 31, 2026 and 2025 (unaudited; dollars in thousands) Any differences are a result of rounding. Three Months Ended March 31, 2026 2025 Leasing & Maintenance Capital Expenditures Capital Expenditures $ 924 $ 432 Tenant Improvement Allowances 247 270 Leasing Commissions 863 384 Total Leasing & Maintenance Capital Expenditures $ 2,034 $ 1,086 Value Enhancing & Other Capital Expenditures Acquired Vacancy $ 905 $ 73 Anchor Repositioning 55 4 Outparcel Developments 286 10 Property Repositioning & Other 1,197 16

© CTO Realty Growth, Inc. | ctoreit.com 19 Top Tenant Summary As of March 31, 2026 (unaudited, dollars and square feet in thousands) Any differences are a result of rounding. 1. Credit Rating is the available rating from S&P Global Ratings as of March 31, 2026. “NR” indicates the company is not rated. 2. Excludes leases not yet commenced. Tenant/Concept Credit Rating1 Leases2 Leased Square Feet2 % of Total Cash ABR % of Total AMC CCC+ 3 174 2.9% $4,118 3.7% Best Buy BBB+ 5 187 3.2% 3,038 2.7% Fidelity BBB 2 122 2.1% 2,583 2.3% Ross/dd's Discount A- 7 194 3.3% 2,513 2.2% Burlington BB+ 5 175 3.0% 2,193 2.0% TJ Maxx/HomeGoods/Marshalls A 6 177 3.0% 2,161 1.9% Barnes & Noble NR 4 102 1.7% 1,887 1.7% Dick's Sporting Goods BBB 4 188 3.2% 1,806 1.6% Nordstrom Rack BB 3 106 1.8% 1,779 1.6% Southern University NR 1 60 1.0% 1,715 1.5% Publix NR 2 99 1.7% 1,659 1.5% Whole Foods Market AA- 1 60 1.0% 1,633 1.5% Academy Sports & Outdoors BB+ 2 129 2.2% 1,497 1.3% PetSmart B 4 78 1.3% 1,302 1.2% Hobby Lobby NR 2 110 1.9% 1,279 1.1% Regal Cinemas NR 1 51 0.9% 1,210 1.1% DSW Shoe Warehouse NR 4 69 1.2% 1,164 1.0% Onelife Fitness NR 1 45 0.8% 1,120 1.0% Floor & Decor BB 1 75 1.3% 1,047 0.9% Old Navy BB+ 3 59 1.0% 904 0.8% Other 582 3,104 52.6% 75,138 67.2% Total Occupied 643 5,364 90.9% $111,745 100.0% Vacant - 540 9.1% Total 643 5,904 100.0%

© CTO Realty Growth, Inc. | ctoreit.com 20 Retail Leasing Activity For the twelve months ended March 31, 2026 (unaudited, dollars and square feet in thousands, except per square foot data) Any differences are a result of rounding. Comparable leases compare retail leases signed on a space for which there was previously a tenant. Does not include lease termination agreements or lease amendments related to tenant bankruptcy proceedings, or office leases. New rent per sq. ft. represents the minimum cash rent under the new lease for the first 12 months of the term. Prior rent per sq. ft. represents the minimum in-place cash rent under the prior lease. Tenant improvements include landlord work. Leases Signed Square Feet New Rent Per SF Prior Rent Per SF Cash Basis % Change Avg Lease Term (Yrs) Tenant Improvements Per SF Total Comparable Leases Q1 2026 22 146 $24.08 $21.09 14.2% 6.3 $11.52 Q4 2025 20 167 $23.68 $18.09 30.9% 6.5 $29.67 Q3 2025 21 125 $22.24 $20.16 10.3% 6.2 $3.39 Q2 2025 14 190 $25.54 $21.01 21.6% 7.2 $13.58 Total / Wtd. Avg. 77 628 $24.05 $20.08 19.7% 6.6 $15.36 New Leases – Comparable Q1 2026 4 22 $32.80 $20.55 59.6% 10.0 $77.31 Q4 2025 4 46 $29.54 $14.41 105.0% 10.6 $108.01 Q3 2025 6 14 $47.21 $46.14 2.3% 9.3 $29.53 Q2 2025 4 75 $18.90 $10.52 79.6% 10.0 $34.19 Total / Wtd. Avg. 18 157 $26.50 $16.28 62.7% 10.1 $61.23 Renewals & Extensions – Comparable Q1 2026 18 125 $22.57 $21.19 6.5% 5.4 $0.12 Q4 2025 16 121 $21.45 $19.48 10.1% 4.3 - Q3 2025 15 111 $18.99 $16.78 13.2% 5.3 - Q2 2025 10 115 $29.91 $27.91 7.2% 6.1 - Total / Wtd. Avg. 59 471 $23.23 $21.35 8.8% 5.3 $0.03 Total Comparable and Non-Comparable Q1 2026 25 153 $24.72 NA NA 6.6 $12.61 Q4 2025 23 189 $24.14 NA NA 6.8 $44.72 Q3 2025 24 142 $23.00 NA NA 6.6 $7.80 Q2 2025 22 227 $25.43 NA NA 7.6 $16.25 Total / Wtd. Avg. 94 711 $24.45 NA NA 7.0 $21.35

© CTO Realty Growth, Inc. | ctoreit.com 21 Lease Expiration Schedule As of March 31, 2026 (unaudited, dollars and square feet in thousands, except per square foot data) Any differences are a result of rounding. Anchor Tenants (>10,000 Square Feet) Year Leases Expiring Expiring SF % of Total Cash ABR % of Total Cash ABR PSF 2026 4 111 2.1% 2,503 2.2% $22.63 2027 11 403 7.5% 4,588 4.1% $11.38 2028 21 827 15.4% 13,264 11.9% $16.04 2029 14 558 10.4% 5,586 5.0% $10.02 2030 8 218 4.1% 3,285 2.9% $15.10 2031 17 504 9.4% 8,355 7.5% $16.57 2032 9 246 4.6% 3,250 2.9% $13.21 2033 4 76 1.4% 1,360 1.2% $17.84 2034 7 173 3.2% 2,798 2.5% $16.16 2035 12 255 4.8% 5,766 5.2% $22.61 Thereafter 8 259 4.8% 4,698 4.2% $18.14 Total 115 3,630 67.7% $55,452 49.6% $15.28 Small Shop Tenants Year Leases Expiring Expiring SF % of Total Cash ABR % of Total Cash ABR PSF 2026 45 118 2.2% 3,590 3.2% $30.39 2027 71 217 4.0% 6,342 5.7% $29.26 2028 69 240 4.5% 7,936 7.1% $33.02 2029 61 199 3.7% 6,345 5.7% $31.95 2030 74 246 4.6% 7,941 7.1% $32.28 2031 56 195 3.6% 5,831 5.2% $29.90 2032 38 131 2.4% 4,555 4.1% $34.75 2033 37 123 2.3% 4,298 3.8% $34.99 2034 26 91 1.7% 3,591 3.2% $39.45 2035 30 85 1.6% 2,995 2.7% $35.08 Thereafter 21 89 1.7% 2,868 2.6% $32.25 Total 528 1,734 32.3% $56,293 50.4% $32.46 Total Year Leases Expiring Expiring SF % of Total Cash ABR % of Total Cash ABR PSF 2026 49 229 4.3% 6,094 5.5% $26.63 2027 82 620 11.6% 10,930 9.8% $17.63 2028 90 1,067 19.9% 21,201 19.0% $19.86 2029 75 756 14.1% 11,931 10.7% $15.78 2030 82 464 8.6% 11,226 10.0% $24.22 2031 73 699 13.0% 14,186 12.7% $20.29 2032 47 377 7.0% 7,805 7.0% $20.69 2033 41 199 3.7% 5,658 5.1% $28.42 2034 33 264 4.9% 6,388 5.7% $24.19 2035 42 340 6.3% 8,761 7.8% $25.73 Thereafter 29 348 6.5% 7,566 6.8% $21.75 Total 643 5,364 100.0% $111,745 100.0% $20.83

© CTO Realty Growth, Inc. | ctoreit.com 22 Year-to-Date Investment, Disposition & Structured Investment Repayment Activity For the quarter ended March 31, 2026 (unaudited, dollars and square feet in thousands) Any differences are a result of rounding. Investments Type Date Square Feet Price / Commitment Palms Crossing – McAllen, TX Power Center Feb. 2026 399 81,600 Total Property Acquisitions 399 $81,600 Structured Investment Repayments Date Repaid Coupon Price Watters Creek at Montgomery Farm Mar. 2026 9.50% 30,000 Total Investment Repayments 9.50% $30,000

© CTO Realty Growth, Inc. | ctoreit.com 23 Portfolio Summary As of March 31, 2026 (unaudited, square feet in thousands) Any differences are a result of rounding. 1. Formerly referred to as “Fidelity Building” Market / Property Market Year Built / Updated Acreage SF % Occupied % Leased Cash ABR PSF Arizona Crossroads Town Center Phoenix 2005 31 222 94.6% 100.0% $19.75 Florida Pompano Citi Centre Fort Lauderdale 1971/2006 34 509 91.4% 93.1% $17.15 The Strand at St. Johns Town Center Jacksonville 2017 52 211 100.0% 100.0% $26.75 Marketplace at Seminole Towne Center Orlando 2006 41 320 84.9% 100.0% $21.28 Millenia Crossing Orlando 2009 11 100 87.3% 93.3% $25.70 Lake Brandon Village Tampa 1998 8 102 100.0% 100.0% $13.87 Granada Plaza Tampa 1985 7 74 91.8% 91.8% $16.22 Total / Weighted Average 153 1,317 91.6% 96.4% $20.05 Georgia The Collection at Forsyth Atlanta 2006 70 565 89.6% 94.0% $23.45 Ashford Lane Atlanta 2005 44 277 96.6% 96.6% $32.72 Madison Yards Atlanta 2019 10 163 99.0% 99.0% $32.98 The Exchange at Gwinnett Atlanta 2021/2023 16 97 97.1% 100.0% $37.88 Ashley Park Atlanta 2004 60 559 95.7% 96.3% $16.56 Total / Weighted Average 200 1,661 94.2% 96.1% $24.53 North Carolina Carolina Pavilion Charlotte 1995 72 694 76.7% 82.9% $16.32 Beaver Creek Crossings Raleigh 2005 52 322 99.3% 100.0% $18.83 Total / Weighted Average 124 1,016 83.8% 88.3% $17.27 Texas Plaza at Rockwall Dallas 2007 42 444 99.7% 100.0% $14.62 Price Plaza Houston 1999 23 201 100.0% 100.0% $17.14 Palms Crossing McAllen 2007 47 399 93.8% 97.6% $18.45 Total / Weighted Average 112 1,044 97.5% 99.1% $16.52 Virginia West Broad Village Richmond 2007 33 392 91.7% 91.7% $26.64 Total Shopping Centers 653 5,652 92.1% 95.1% $20.70 Albuquerque Office 1 Albuquerque 2009 25 212 53.8% 100.0% $18.02 Winter Park Office Orlando 1982 2 28 100.0% 100.0% $30.69 Daytona Beach Restaurants Daytona 2017/ 2018 6 12 100.0% 100.0% $84.09 Total Portfolio 686 5,904 90.9% 95.4% $20.83

© CTO Realty Growth, Inc. | ctoreit.com 24 Geographic Diversification As of March 31, 2026 (cash ABR and square feet in thousands) Any differences are a result of rounding. Demographic information sourced from Esri. Market, state and portfolio averages weighted by the Annualized Cash Base Rent of each property. States Properties Square Feet % of Total Cash ABR % of Total 5-Mile 2025 Avg. Household Income 5-Mile 2025 Total Population Georgia 5 1,661 28% $38,383 34% $156,394 192,304 Florida 9 1,357 23% 26,058 23% 105,322 209,587 Texas 3 1,044 18% 16,816 15% 115,703 180,109 North Carolina 2 1,016 17% 14,704 13% 155,151 176,989 Virginia 1 392 7% 9,584 9% 154,649 178,579 Arizona 1 222 4% 4,141 4% 163,525 320,413 New Mexico 1 212 4% 2,058 2% 73,504 50,473 Total 22 5,904 100% $111,745 100% $136,785 193,442 Markets Properties Square Feet % of Total Cash ABR % of Total 5-Mile 2025 Avg. Household Income 5-Mile 2025 Total Population Atlanta, GA 5 1,661 28% $38,383 34% $156,394 192,304 Richmond, VA 1 392 7% 9,584 9% 154,649 178,579 Orlando, FL 3 449 8% 8,896 8% 112,487 180,902 Charlotte, NC 1 694 12% 8,681 8% 149,924 202,342 Pompano Beach, FL 1 509 9% 7,981 7% 105,521 250,967 McAllen, TX 1 399 7% 6,909 6% 85,156 199,512 Dallas, TX 1 444 8% 6,469 6% 145,379 103,989 Raleigh, NC 1 322 5% 6,023 5% 162,683 140,451 Jacksonville, FL 1 211 3% 5,649 5% 100,232 203,742 Phoenix, AZ 1 222 4% 4,141 4% 163,525 320,413 Houston, TX 1 201 3% 3,438 3% 121,250 284,337 Tampa, FL 2 176 3% 2,520 2% 104,743 232,638 Albuquerque, NM 1 212 3% 2,058 2% 73,504 50,473 Daytona Beach, FL 2 12 0% 1,013 1% 70,646 110,699 Total 22 5,904 100% $111,745 100% $136,785 193,442

© CTO Realty Growth, Inc. | ctoreit.com 25 Other Investments As of March 31, 2026 (dollars in thousands, except for per share data) Any differences are a result of rounding. 1. Amounts funded prior to December 31, 2025 carry a coupon rate of 11.50%, while draws subsequent to that date have a 12.00% coupon rate, including 10.00% cash and 2.00% accrued paid-in-kind interest. The disclosed rate of 11.54% represents the weighted average coupon rate as of March 31, 2026 2. The Series A Preferred Investment is not redeemable prior to July 11, 2029, except upon the occurrence of certain specified events Investment Securities Shares & Operating Partnership Units Owned Share Price Value Annualized Dividend Per Share Q1 2026 Annualized Dividend Income Alpine Income Property Trust 2,472 $18.00 $44,488 $1.20 $2,966 Structured Investments Origination Date Maturity Date Original Loan Amount Amount Outstanding Interest Rate Rivana Sept. 2024 Sept. 2028 $59,450 $36,907 11.54% 1 Founders Square Mar. 2023 Mar. 2027 15,000 15,000 9.50% Whole Foods Nov. 2024 May 2027 40,200 16,509 12.15% Series A Preferred Investment Jul. 2024 NA2 10,000 10,000 14.00% Main Street Aug. 2025 Aug. 2030 5,000 5,000 6.50% Total Structured Investments $129,650 $83,416 11.28%

© CTO Realty Growth, Inc. | ctoreit.com 26 2026 Guidance 1. See reconciliation of our 2026 Core FFO and AFFO guidance to Net Income Attributable to the Company, per diluted share, on page 13. 2. Includes the effects of bad debt expense, occupancy loss and costs associated with tenants in bankruptcy and/or tenant lease defaults. Before potential impact from income producing acquisitions and dispositions. Current Previous Core FFO Per Diluted Share1 $2.06 to $2.11 $1.98 to $2.03 AFFO Per Diluted Share1 $2.19 to $2.24 $2.11 to $2.16 The Company has raised its 2026 outlook as follows: The Company’s 2026 guidance includes but is not limited to the following assumptions: Current Previous Investments (in millions) $175 to $250 $100 to $200 Same-Property NOI Growth for Shopping Centers2 Unchanged 3.5% to 4.5% General and Administrative Expenses (in millions) $19.7 to $20.2 $19.5 to $20.0

© CTO Realty Growth, Inc. | ctoreit.com 27 Contact Information & Research Coverage Contact Information Corporate Office Locations Investor Relations New York Stock Exchange 369 N. New York Ave., Suite 201 Winter Park, FL 32789 1140 N. Williamson Blvd., Suite 140 Daytona Beach, FL 32114 ir@ctoreit.com Ticker Symbol: CTO Series A Preferred Ticker Symbol: CTO/PA www.ctoreit.com Research Analyst Coverage Institution Coverage Analyst Email Alliance Global Partners Gaurav Mehta gmehta@allianceg.com B. Riley John Massocca jmassocca@brileyfin.com Cantor Fitzgerald Jay Kornreich jay.kornreich@cantor.com Jones Research Jason Weaver jweaver@jonestrading.com Lucid Capital Markets Craig Kucera ckucera@lucidcm.com Raymond James RJ Milligan rjmilligan@raymondjames.com

FAQ

How did CTO (NYSE: CTO) perform financially in Q1 2026?

CTO reported significantly improved Q1 2026 results. Net income attributable to the company rose to $6.2 million, or $0.13 per diluted common share, compared with $2.3 million, or $0.01, in Q1 2025. Core FFO per diluted share increased to $0.52 and AFFO to $0.56.

What growth metrics did CTO report for its shopping center portfolio?

CTO’s shopping centers showed healthy same-property growth. Shopping center same-property NOI increased 6.8% year over year, or 4.2% excluding certain non-recurring recovery benefits, reflecting improved property-level performance. The company also executed 146,000 square feet of comparable retail leases at a 14% positive cash rent spread.

What major acquisitions or investments did CTO make in early 2026?

CTO completed and announced several sizable investments. It acquired the 399,000 square foot Palms Crossing retail center in McAllen, Texas for $81.6 million, received full repayment of its $30.0 million Watters Creek preferred investment, and subsequently invested $75.0 million of preferred equity in a Class A retail property at a 12.0% cash yield.

How did CTO change its 2026 Core FFO and AFFO guidance?

CTO raised both Core FFO and AFFO guidance for 2026. Core FFO per diluted share is now expected at $2.06–$2.11 versus a prior range of $1.98–$2.03. AFFO per diluted share is projected at $2.19–$2.24, compared to the earlier $2.11–$2.16 outlook.

What is CTO’s updated 2026 investment volume outlook?

CTO plans to deploy significantly more capital in 2026. The company now expects total investment volume, including commercial loans and structured investments, of $175–$250 million, up from its previous $100–$200 million range, reflecting a more active acquisition and investment pipeline.

What does CTO’s signed-not-open pipeline represent at quarter-end?

CTO highlighted a $6.2 million signed-not-open pipeline. This pipeline, disclosed as of March 31, 2026, represents 5.5% of in-place cash annual base rent (ABR), indicating additional near-term leasing-driven revenue as these signed leases commence and begin contributing to rent.

How leveraged is CTO based on its Q1 2026 results?

CTO reported leverage using a Net Debt to Pro Forma Adjusted EBITDA metric. Net debt was $643.5 million and Pro Forma Adjusted EBITDA was $99.9 million, resulting in Net Debt to Pro Forma Adjusted EBITDA of 6.4x for the period ended March 31, 2026.

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