Curbline Properties Corp. (NYSE: CURB) boosts OFFO and acquisitions

Rhea-AI Filing Summary

Curbline Properties Corp. reported second-quarter 2026 net income attributable to Curbline of $6.9 million, or $0.06 per diluted share, down from $10.4 million, or $0.10, a year earlier, mainly from higher interest expense and higher depreciation and amortization. For the first six months, net income was $10.5 million versus $20.9 million.

Operating performance remained stronger on a cash-flow basis. Second-quarter Operating FFO was $33.3 million, or $0.31 per diluted share, up from $26.9 million, or $0.26, driven primarily by the net impact of asset acquisitions. Year to date, the company acquired 48 convenience shopping centers for an aggregate purchase price of $563.7 million, expanding the portfolio to 220 properties totaling 5,745 thousand square feet and maintaining a 96.5% leased rate.

Curbline updated 2026 guidance for net income attributable to Curbline to $0.27–$0.32 per diluted share and raised its Operating FFO outlook to $1.24–$1.26 per diluted share. Same-property NOI increased 2.1% for the six-month period, while the company reported a $3.5B market capitalization and net debt of $445,279 thousand as of June 30, 2026.

Positive

• Operating FFO growth and higher guidance: Q2 2026 Operating FFO rose to $33.3 million ($0.31 per diluted share) from $26.9 million ($0.26), and the 2026 Operating FFO guidance range was raised to $1.24–$1.26 per diluted share from $1.20–$1.23.
• Aggressive, fully funded acquisition program: Year to date, Curbline acquired 48 centers for $563.7 million and ended June 30, 2026 with $850.9 million of cash and capital commitments for future acquisitions, while keeping the portfolio 96.5% leased.

Negative

• Material decline in GAAP earnings: Q2 2026 net income attributable to Curbline fell to $6.9 million ($0.06 per diluted share) from $10.4 million ($0.10), and six‑month net income declined to $10.5 million from $20.9 million, primarily from higher interest, depreciation and amortization.
• Flat to slightly negative quarterly same‑property NOI: Same‑property NOI decreased 0.5% in Q2 2026 versus Q2 2025, even though it increased 2.1% for the six‑month period.

Filing Explained

Curbline has settled 8.4 million forward shares and reports 696.2 million dollars of unsettled expected proceeds, leaving equity funding partly issued and partly pending.

This Form 8-K reports the company’s quarterly supplement for the quarter ended June 30, 2026. It also discloses year-to-date forward sales of $823.5 million of common stock expected gross proceeds, including $199.8 million of net proceeds from 8.4 million shares already settled.

The share sales can reduce existing holders’ percentage ownership as additional shares are issued. The filing separately reports 6.6 million ATM-program shares sold for expected gross proceeds of $186.5 million and a June forward offering of 11.5 million shares for expected gross proceeds of $354.8 million.

At June 30, 2026, Curbline reported $850.9 million of cash and capital commitments for future acquisitions: $154.7 million of cash and $696.2 million of expected gross proceeds from unsettled forward equity sales. The latter is a funding commitment or expected-proceeds figure, not cash already received.

After quarter end, the company reported four additional acquisitions totaling $47.1 million; it also expects most of its Signed Not Opened pipeline to begin paying rent by March 2027.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

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

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 Curbline, Q2 2026: $6.9 million Operating FFO, Q2 2026: $33.3 million Operating FFO guidance, FY 2026: $1.24–$1.26 per diluted share +5 more

8 metrics

Net income attributable to Curbline, Q2 2026 $6.9 million Quarter ended June 30, 2026; $10.4 million in the prior-year quarter.

Operating FFO, Q2 2026 $33.3 million Quarter ended June 30, 2026; up from $26.9 million in Q2 2025.

Operating FFO guidance, FY 2026 $1.24–$1.26 per diluted share Revised 2026 Operating FFO per share guidance range.

Net income guidance, FY 2026 $0.27–$0.32 per diluted share Updated 2026 net income attributable to Curbline per diluted share guidance.

Market capitalization $3.5B Stated market capitalization for Curbline Properties.

Properties owned 220 Total properties in the portfolio as of June 30, 2026.

Total GLA 5,745 thousand square feet Total gross leasable area as of June 30, 2026.

Net debt $445,279 thousand Net debt as of June 30, 2026, per capital structure table.

Key Terms

Funds from Operations, Operating FFO, Same-Property Net Operating Income, at-the-market equity offering program, +2 more

6 terms

Funds from Operations financial

"Funds from Operations (“FFO”) is a supplemental non-GAAP financial measure"

Funds from operations (FFO) measures the cash a real estate-focused company generates from its core property operations by adjusting net income to add back non-cash expenses like building depreciation and removing one-time gains or losses from property sales. Investors use FFO like a household’s monthly take-home pay—it's a clearer view of ongoing cash available to pay dividends, maintain properties and fund growth than raw accounting profit.

Operating FFO financial

"Operating FFO attributable to Curbline (“Operating FFO” or “OFFO”) was $33.3 million"

Operating FFO is a cash-based performance measure used mainly by real estate companies to show the recurring cash generated by their core property operations after removing accounting items that don’t reflect everyday cash flow, like depreciation or one-time gains and losses. Investors use it like a household budget that separates steady rent income from occasional windfalls or big repairs to judge dividend sustainability and compare operational health across companies.

Same-Property Net Operating Income financial

"Reported an increase of 2.1% in same-property net operating income (“SPNOI”)"

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.

at-the-market equity offering program financial

"sold 6.6 million shares of common stock on a forward basis under its at-the-market equity offering program"

A program that lets a company sell newly issued shares directly into the open market at whatever the current trading price is, usually through a broker, and do so gradually over time instead of all at once. Investors care because it can dilute existing ownership and put steady selling pressure on the stock price, while giving the company a flexible, on-demand way to raise cash — like adding small amounts of water to a pool rather than dumping in a bucket.

Signed Not Opened financial

"the Signed Not Opened spread was 220 basis points, representing $7.6 million of annualized base rent"

Signed not opened describes a delivery status where someone has acknowledged receipt of a document or package by signing for it but did not inspect or unpack the contents at the time of delivery. For investors this matters because it confirms legal or record receipt of important materials—like shareholder notices, regulatory filings, or tender documents—even if the recipient hasn’t yet reviewed the information that could affect decisions or deadlines. Think of it as signing a sealed envelope: you’ve accepted it, but you haven’t seen what’s inside.

Net Operating Income financial

"The Company also uses net operating income (“NOI”), a non-GAAP financial measure"

Net operating income is the profit a business makes from its core operations after subtracting the costs directly related to running those operations, but before accounting for taxes, interest, or other expenses. It shows how efficiently a company is generating income from its main activities. Investors use this figure to assess the company's operational performance and profitability.

Earnings Snapshot

Net income attributable to Curbline: $6.9 million, or $0.06 per diluted share · Guidance included

quarter ended June 30, 2026

Net income attributable to Curbline $6.9 million, or $0.06 per diluted share Compared to $10.4 million, or $0.10 per diluted share, in Q2 2025.

Operating FFO $33.3 million, or $0.31 per diluted share Compared to $26.9 million, or $0.26 per diluted share, in Q2 2025.

Same-property NOI change (six months) 2.1% increase For the six-month period ended June 30, 2026 versus June 30, 2025.

Guidance

For 2026, Curbline guides net income attributable to Curbline to $0.27–$0.32 per diluted share and Operating FFO to $1.24–$1.26 per diluted share, excluding projections of gains or losses on asset sales, transaction costs or debt extinguishment costs.

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FAQ

What were Curbline Properties (CURB) Q2 2026 net income and EPS?

Curbline reported Q2 2026 net income attributable of $6.9 million, equal to $0.06 per diluted share, compared with $10.4 million, or $0.10 per diluted share, in the prior‑year quarter, mainly due to higher interest expense and higher depreciation and amortization.

How did Curbline Properties (CURB) Q2 2026 Operating FFO perform?

Second‑quarter 2026 Operating FFO was $33.3 million, or $0.31 per diluted share, up from $26.9 million, or $0.26 per diluted share, a year earlier. The company cited the net impact of asset acquisitions, partially offset by higher interest expense and a higher weighted‑average share count.

What acquisition activity did Curbline Properties (CURB) report for 2026 year to date?

Year to date 2026, Curbline acquired 48 convenience shopping centers for an aggregate purchase price of $563.7 million. In Q2 alone, it acquired 30 centers for $374.1 million and in the third quarter to date acquired four more centers for $47.1 million.

What equity capital has Curbline Properties (CURB) raised in 2026?

Year to date, Curbline sold 29.3 million shares of common stock on a forward basis through follow‑on offerings and its at‑the‑market program, generating expected gross proceeds of $823.5 million before issuance costs, and had $696.2 million of expected gross proceeds from unsettled forward equity sales as of June 30, 2026.

What is Curbline Properties (CURB) 2026 earnings and Operating FFO guidance?

For 2026, Curbline guides net income attributable to Curbline to $0.27–$0.32 per diluted share and Operating FFO to $1.24–$1.26 per diluted share. The Operating FFO guidance range was increased from a prior range of $1.20–$1.23 per diluted share.

How are occupancy and same‑property NOI trending for Curbline Properties (CURB)?

As of June 30, 2026, Curbline’s portfolio was 96.5% leased, up from 96.1% a year earlier. Same‑property NOI increased 2.1% for the six‑month period versus the prior year, though quarterly same‑property NOI declined 0.5% in Q2 2026.

false000202731700020273172026-07-282026-07-28

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): July 28, 2026

Curbline Properties Corp.

(Exact name of Registrant as Specified in Its Charter)

Maryland			001-42265	93-4224532
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
320 Park Avenue
New York, New York				10022
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (216) 755-5500

(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:

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

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. ☐

Item 2.02 Results of Operations and Financial Condition.

On July 28, 2026, Curbline Properties Corp. (the “Company”) issued a quarterly financial supplement containing financial and property information of the Company (the “Quarterly Supplement”) for the quarter ended June 30, 2026, which includes a News Release containing financial results of the Company. A copy of the Quarterly Supplement is attached hereto as Exhibit 99.1 and is incorporated herein by reference. This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933 or the Exchange Act, except as shall be set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit

Number Description

99.1	Quarterly financial supplement dated as of June 30, 2026
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

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.

			CURBLINE PROPERTIES CORP.
Date:	July 28, 2026	By:	/s/ Christina M. Yarian
			Name: Christina M. Yarian Title: Senior Vice President and Chief Accounting Officer

Exhibit 99.1

CURBLINE PROPERTIES 2Q26 QUARTERLY FINANCIAL SUPPLEMENT QUARTER ENDED JUNE 30, 2026 Recent Acquisition University Station, ROUND ROCK, TEXAS

CURBLINE PROPERTIES COMPANY & PORTFOLIO OVERVIEW Curbline Properties is an owner and manager of convenience shopping centers positioned on the curbline of well-trafficked intersections and major vehicular corridors in suburban, high household income communities. $3.5B MARKET CAPITALIZATION 220 PROPERTIES 5.7M GLA THE CURBLINE PORTFOLIO $126K AVERAGE HOUSEHOLD INCOME TOP 5 MSAs by ABR ATLANTA 11% MIAMI 9% PHOENIX 7% HOUSTON 6% ORLANDO 6% THE CURBLINE PORTFOLIO SOUTHEAST 36% SOUTHWEST MOUNTAIN & TEXAS 27% MID-ATLANTIC 9% MIDWEST & NORTHEAST 16% WEST COAST 12% RETAILER MIX LOCAL 30% NATIONAL 70% PROPERTY COMPOSITION ANCHOR 5% SHOP 95% AVERAGE ASSET SIZE 26K SF CURBLINE PROPERTIES INVESTOR RELATIONS DEPARTMENT e: ir@curbline.com w: ir.curbline.com 320 Park Avenue, 27th Floor, New York, NY 10022 3300 Enterprise Pkwy Beachwood, OH 44122 o: 216-755-6200 f: 216-274-9711 w: curbline.com • NYSE: CURB CURB LISTED NYSE

Curbline Properties Corp.

Table of Contents

Section	Page
Earnings Release & Financial Statements
Press Release	1-8
Company Summary
Portfolio Summary	9
Capital Structure	10
Debt Detail	11
Same Property Metrics	12
Leasing Summary	13
Lease Expirations	14
Top 25 Tenants	15
Investments
Acquisitions	16
Reporting Policies and Other
Notable Accounting Policies and Non-GAAP Measures	17-18

For Immediate Release

Curbline Properties Reports Second Quarter 2026 Results

New York, New York, July 28, 2026 – Curbline Properties Corp. (NYSE: CURB) (the “Company” or “Curbline”), an owner of convenience centers in suburban, high household income communities, announced today operating results for the quarter ended June 30, 2026. For the six months ended June 30, 2026, net income attributable to Curbline was $10.5 million, or $0.10 per diluted share, as compared to net income of $20.9 million, or $0.20 per diluted share, in the year-ago period.

“Curbline’s second quarter results highlight the strength of the platform that we have constructed with record investment volume of $375 million, over $500 million of capital raised, and an uptick in leasing volume with the vast majority of the Company’s SNO pipeline expected to commence rent payment by March 2027. Curbline is again raising its full year investment target and OFFO guidance range given the significant outperformance to date with all cash and capital commitments needed to fund the revised investment pipeline on hand,” commented David R. Lukes, President and Chief Executive Officer. “Looking forward, we believe Curbline remains uniquely positioned for growth given its differentiated investment focus, the leasing economics of the Company’s property type, and its balance sheet.”

Results for the Second Quarter

•Second quarter net income attributable to Curbline was $6.9 million, or $0.06 per diluted share, as compared to net income of $10.4 million, or $0.10 per diluted share, in the year-ago period. The decrease year-over-year was primarily due to an increase in interest expense and in depreciation and amortization expense, partially offset by the net impact of asset acquisitions.

•Second quarter operating funds from operations attributable to Curbline (“Operating FFO” or “OFFO”) was $33.3 million, or $0.31 per diluted share, compared to $26.9 million, or $0.26 per diluted share, in the year-ago period. The increase year-over-year was primarily due to the net impact of asset acquisitions, partially offset by an increase in interest expense and a higher weighted-average share count resulting from shares issued to fund acquisitions.

Significant Second Quarter Activity and Recent Activity

•During the second quarter, acquired 30 convenience shopping centers for an aggregate purchase price of $374.1 million.

•During the second quarter, sold 6.6 million shares of common stock on a forward basis under its at-the-market equity offering program for expected gross proceeds of $186.5 million before issuance costs.

•In June, conducted an offering of 11.5 million shares of common stock on a forward basis generating expected gross proceeds of $354.8 million before issuance costs.

•During the second quarter, settled 8.4 million shares of common stock that were sold on a forward basis generating net proceeds of $199.8 million.

•In June, issued the Company's 2025 Corporate Sustainability Report marking both the first report as a standalone public company and Curbline’s first full year of sustainability reporting. The report was completed in alignment with the Task Force on Climate Related Financial Disclosure and can be found at (https://curbline.com/our-story#sustainability).

•As of June 30, 2026, adjusted for forward equity sales completed year to date, the Company had $850.9 million of cash and capital commitments for future acquisitions, including $154.7 million of cash and $696.2 million of expected gross proceeds from unsettled forward equity sales.

•In the third quarter to date, acquired four convenience shopping centers for an aggregate purchase price of $47.1 million.

Significant Year to Date 2026 Activity

•Year to date, acquired 48 convenience shopping centers for an aggregate purchase price of $563.7 million.

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•Year to date, sold 29.3 million shares of common stock on a forward basis in follow-on public offerings and under its at-the-market equity offering program, generating expected gross proceeds of $823.5 million before issuance costs.

Key Quarterly Operating Results

•Reported an increase of 2.1% in same-property net operating income (“SPNOI”) for the six-month period ended June 30, 2026 compared to June 30, 2025.

•Generated cash new leasing spreads of 20.2% and cash renewal leasing spreads of 7.4%, for the trailing twelve-month period ended June 30, 2026 and cash new leasing spreads of 8.2% and cash renewal leasing spreads of 8.6% for the second quarter of 2026.

•Generated straight-lined new leasing spreads of 35.7% and straight-lined renewal leasing spreads of 17.1%, for the trailing twelve-month period ended June 30, 2026 and straight-lined new leasing spreads of 27.1% and straight-lined renewal leasing spreads of 18.1% for the second quarter of 2026.

•Reported a leased rate of 96.5% at June 30, 2026 compared to 96.1% at June 30, 2025 and 96.7% at December 31, 2025. The sequential increase was due to an acceleration in net leasing activity, partially offset by an approximately 20 basis point impact from acquisitions.

•As of June 30, 2026, the Signed Not Opened spread was 220 basis points, representing $7.6 million of annualized base rent.

2026 Guidance

The Company has updated its guidance for net income attributable to Curbline for 2026 to be from $0.27 to $0.32 per diluted share and Operating FFO to be from $1.24 to $1.26 per diluted share. The Company does not include a projection of gains or losses on asset sales, transaction costs or debt extinguishment costs in guidance.

Reconciliation of Net Income Attributable to Curbline to FFO and Operating FFO estimates:

	FY 2026E (prior) Per Share — Diluted		FY 2026E (revised) Per Share — Diluted
Net income attributable to Curbline	$0.29 — $0.36		$0.27 — $0.32
Depreciation and amortization of real estate, net	0.90 — 0.86		0.96 — 0.93
FFO attributable to Curbline (NAREIT)	$1.19 — $1.22		$1.23 — $1.25
Transaction and other costs, net (reported actual)	0.01		0.01
Operating FFO attributable to Curbline	$1.20 — $1.23		$1.24 — $1.26

About Curbline Properties

Curbline Properties is an owner and manager of convenience shopping centers positioned on the curbline of well-trafficked intersections and major vehicular corridors in suburban, high household income communities. The Company is a self-managed real estate investment trust (“REIT”) that is publicly traded under the ticker symbol “CURB” on the NYSE. Additional information about the Company is available at curbline.com. To be included in the Company’s e-mail distributions for press releases and other investor news, please click here.

Conference Call and Supplemental Information

The Company will hold its quarterly conference call today at 8:00 a.m. Eastern Time. To participate with access to the slide presentation, please visit the Investor Relations portion of Curbline's website, ir.curbline.com, or for audio only, dial 833-461-5787 (U.S.) or 626-884-3620 (international) using meeting ID 341781138 at least ten minutes prior to the scheduled start of the call. The call will also be webcast and available in a listen-only mode on Curbline's website at ir.curbline.com. If you are unable to participate during the live call, a replay of the conference call will also be available at ir.curbline.com for future review through July 28, 2027. Copies of the Company’s supplemental package and earnings slide presentation are available on the Company’s website.

Non-GAAP Measures and Other Operational Metrics

Funds from Operations (“FFO”) is a supplemental non-GAAP financial measure used as a standard in the real estate industry and is a widely accepted measure of REIT performance. The Company believes that both FFO and Operating FFO provide additional indicators of the financial performance of a REIT, more appropriately measure the core operations of the Company, and provide benchmarks to its peer group.

FFO is generally defined and calculated by the Company as net income attributable to Curbline (computed in accordance with Generally Accepted Accounting Principles in the United States (“GAAP”)), adjusted to exclude (i) gains and losses from disposition of real estate property, which are presented net of taxes, (ii) impairment charges on real estate property, (iii) gains and losses from changes in control and (iv) certain non-cash items. These non-cash items principally include real property

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depreciation and amortization of intangibles net of depreciation allocated to non-controlling interests. The Company’s calculation of FFO is consistent with the definition of FFO provided by NAREIT. The Company calculates Operating FFO as FFO excluding certain non-operating charges, income and gains/losses. Operating FFO is useful to investors as the Company removes non-comparable charges, income and gains/losses to analyze the results of its operations and assess performance of the core operating real estate portfolio. Other real estate companies may calculate FFO and Operating FFO in a different manner.

In calculating the expected range for or amount of net income attributable to Curbline to estimate projected FFO and Operating FFO for future periods, the Company does not include a projection of gains and losses from the disposition of real estate property, potential impairments and reserves of real estate property, debt extinguishment costs and certain transaction costs. Other real estate companies may calculate expected FFO and Operating FFO in a different manner.

The Company also uses net operating income (“NOI”), a non-GAAP financial measure, as a supplemental performance measure. NOI is calculated as property revenues less property-related expenses and excludes depreciation and amortization expense, interest income and expense and corporate level transactions. The Company believes NOI provides useful information to investors regarding the Company’s financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level and, when compared across periods, reflects the impact on operations from trends in occupancy rates, rental rates, operating costs and acquisition and disposition activity on an unleveraged basis.

The Company presents NOI information herein on a same-property basis (“SPNOI”). The Company defines SPNOI as property revenues less property-related expenses, which excludes depreciation and amortization expense, interest income and expense and corporate level transactions, as well as straight-line rental income and reimbursements and expenses, lease termination income, management fee expense and fair market value of leases. SPNOI only includes assets owned for the entirety of both comparable periods. Other real estate companies may calculate NOI and SPNOI in a different manner. The Company believes SPNOI provides investors with additional information regarding the operating performance of comparable assets because it excludes certain non-cash and non-comparable items as noted above.

FFO, Operating FFO, NOI and SPNOI do not represent cash generated from operating activities in accordance with GAAP, are not necessarily indicative of cash available to fund cash needs and should not be considered as alternatives to net income computed in accordance with GAAP, as indicators of the Company’s operating performance or as alternatives to cash flow as a measure of liquidity. Reconciliations of these non-GAAP measures to their most directly comparable GAAP measures have been provided herein.

The Company calculates Cash Leasing Spreads by comparing the prior tenant's annual base rent in the final year of the prior lease to the executed tenant’s annual base rent in the first year of the executed lease. Straight-Lined Leasing Spreads are calculated by comparing the prior tenant’s average base rent over the prior lease term to the executed tenant’s average base rent over the term of the executed lease. For both Cash and Straight-Lined Leasing Spreads, the reported calculation excludes first generation units and spaces vacant at the time of acquisition and includes all leases for spaces vacant greater than twelve months along with split and combination deals.

Safe Harbor

Curbline Properties Corp. considers portions of the information in this press release to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Company’s expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact, including statements regarding the Company’s projected operational and financial performance, strategy, prospects and plans, may be deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially from those indicated by such forward-looking statements, including, among other factors, changes in the economic performance and value of the Company’s properties as a result of broad economic and local conditions, such as inflation, interest rate volatility and market reaction to tariffs and other trade policies; changes in local conditions such as an increase or decrease in the supply of, or demand for, retail real estate space in our markets; the impact of changes in consumer trends, distribution channels, suburban population, retailing practices and the space needs of tenants; our dependence on rental income which depends on the successful operations and financial condition of tenants, the loss of which, including as a result of store closures or bankruptcy, could result in significant occupancy loss and negatively impact rental income from our properties; our ability to enter into new leases and renew existing leases, in each case, on favorable terms; our ability to identify, acquire, construct or develop additional properties that produce the cash flows that we expect, which may be limited by competitive pressures, and our ability to manage our growth effectively and capture the efficiencies of scale that we expect from expansion; potential environmental liabilities; our ability to secure debt and equity financing on commercially

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acceptable terms or at all; the illiquidity of real estate investments which could limit our ability to make changes to our portfolio to respond to economic or other conditions; property damage, expenses related thereto and other business and economic consequences (including the potential loss of rental revenues) resulting from natural disasters, public health crises and weather-related factors in locations where we own properties, the ability to estimate accurately the amounts thereof and the sufficiency and timing of any insurance recovery payments related to such damages; any change in strategy; the effect of future offerings of debt and equity securities on the value of our common stock; any disruption, failure or breach of the networks or systems on which the Company relies, including as a result of cyber-attacks; impairment in the value of real estate property that we own; changes in tax laws impacting REITs and real estate in general, as well as our ability to maintain our REIT status; our ability to retain and attract key management personnel; and the finalization of the financial statements for the quarter ended June 30, 2026. For additional factors that could cause the results of the Company to differ materially from those indicated in the forward-looking statements, please refer to the Company’s most recent Annual Report on Form 10-K under “Item 1A. Risk Factors” and our subsequent reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

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Curbline Properties Corp.

Income Statement

	in thousands, except per share
		2Q26		2Q25		6M26		6M25
	Revenues:
	Rental income (1)	$63,077		$41,104		$120,748		$79,542
	Other property revenues	219		298		535		555
		63,296		41,402		121,283		80,097
	Expenses:
	Operating and maintenance	7,904		5,666		15,712		11,068
	Real estate taxes	7,545		4,971		14,821		9,792
		15,449		10,637		30,533		20,860
	Net operating income	47,847		30,765		90,750		59,237
	Other income (expense):
	Interest expense	(8,372)		(1,767)		(16,260)		(2,334)
	Interest income	1,477		5,580		4,385		11,233
	Depreciation and amortization	(26,464)		(16,039)		(52,123)		(30,502)
	General and administrative (2)	(9,240)		(8,156)		(18,863)		(17,084)
	Other income (expense), net (3)	1,742		95		2,738		553
	Gain on disposition of real estate, net	0		0		0		42
	Income before taxes	6,990		10,478		10,627		21,145
	Tax expense	(65)		(72)		(134)		(177)
	Net income	6,925		10,406		10,493		20,968
	Non-controlling interests	(15)		(14)		(20)		(26)
	Net income attributable to Curbline	$6,910		$10,392		$10,473		$20,942
	Weighted average shares – Basic – EPS	106,411		105,003		105,751		104,958
	Assumed conversion of diluted securities	2,484		239		1,872		232
	Weighted average shares – Diluted – EPS	108,895		105,242		107,623		105,190
	Earnings per share of common stock – Basic	$0.06		$0.10		$0.10		$0.20
	Earnings per share of common stock – Diluted	$0.06		$0.10		$0.10		$0.20
(1)	Rental income:
	Minimum rents	$39,737		$25,011		$75,894		$48,240
	Ground lease minimum rents	4,046		3,586		7,911		6,790
	Straight-line rent, net	1,252		795		2,482		1,456
	Amortization of (above)/below-market rent, net	1,586		1,029		3,263		1,959
	Percentage and overage rent	275		269		409		362
	Recoveries	15,785		10,365		30,564		19,815
	Uncollectible revenue	(371)		(215)		(789)		(434)
	Ancillary and other rental income	302		264		549		500
	Lease termination fees	465		0		465		854
(2)	SITE SSA gross up	($1,759)		($625)		($3,522)		($1,256)
(3)	Other income (expense), net:
	Transaction costs	($17)		($343)		($784)		($516)
	SITE SSA gross up	1,759		625		3,522		1,256
	Debt extinguishment and other	0		(187)		0		(187)

5

Curbline Properties Corp.

Reconciliation: Net Income to FFO and Operating FFO

and Other Financial Information

	in thousands, except per share
		2Q26		2Q25		6M26		6M25
	Net income attributable to Curbline	$6,910		$10,392		$10,473		$20,942
	Depreciation and amortization of real estate, net of non-controlling interests	26,406		16,018		52,023		30,464
	Gain on disposition of real estate, net of non-controlling interests	0		0		0		(42)
	FFO attributable to Curbline	$33,316		$26,410		$62,496		$51,364
	Transaction costs, net of non-controlling interests	17		529		783		702
	Operating FFO attributable to Curbline	$33,333		$26,939		$63,279		$52,066
	Weighted average shares & units – Basic: FFO & OFFO	106,411		105,003		105,751		104,958
	Assumed conversion of dilutive securities	2,484		239		1,872		232
	Weighted average shares & units – Diluted: FFO & OFFO	108,895		105,242		107,623		105,190
	FFO per share – Basic	$0.31		$0.25		$0.59		$0.49
	FFO per share – Diluted	$0.31		$0.25		$0.58		$0.49
	Operating FFO per share – Basic	$0.31		$0.26		$0.60		$0.50
	Operating FFO per share – Diluted	$0.31		$0.26		$0.59		$0.49
	Capital expenditures and certain non-cash items:
	Maintenance capital expenditures, net	$1,666		$1,090		$2,047		$1,100
	Tenant allowances and landlord work, net	2,102		826		3,972		1,628
	External leasing commissions, net	451		351		904		830
	Loan cost amortization	(579)		(354)		(1,152)		(607)
	Stock compensation expense	(2,791)		(3,072)		(5,762)		(6,666)

6

Curbline Properties Corp.

Balance Sheet

	$ in thousands
		2Q26		4Q25
	Assets:
	Land	$919,733		$759,267
	Buildings	1,618,627		1,304,288
	Fixtures and tenant improvements	123,166		107,013
		2,661,526		2,170,568
	Accumulated depreciation	(238,583)		(209,429)
		2,422,943		1,961,139
	Construction in progress and land	40,171		27,355
	Real estate, net	2,463,114		1,988,494
	Cash	154,721		289,553
	Receivables and straight-line rents (1)	26,832		22,514
	Amounts receivable from SITE Centers	9,273		21,457
	Intangible assets, net (2)	169,200		137,513
	Other assets, net (3)	18,074		10,259
	Total Assets	2,841,214		2,469,790
	Liabilities and Equity:
	Revolving credit facilities	0		0
	Unsecured debt	595,823		423,239
		595,823		423,239
	Dividends payable	19,630		20,872
	Other liabilities (4)	133,395		112,209
	Total Liabilities	748,848		556,320
	Common stock	1,140		1,054
	Paid-in capital	2,157,037		1,958,845
	Distributions in excess of net income	(72,132)		(46,100)
	Accumulated comprehensive income (loss)	135		(4,606)
	Non-controlling interest	6,186		4,277
	Total Equity	2,092,366		1,913,470
	Total Liabilities and Equity	$2,841,214		$2,469,790
(1)	Straight-line rents (including fixed CAM), net	$16,440		$13,929
(2)	Below-market leases (as lessee), net	14,753		14,788
(3)	Acquisition escrow deposits	8,351		3,258
(4)	Below-market leases, net	78,946		66,698

7

Curbline Properties Corp.

Reconciliation of Net Income Attributable to Curbline to Same-Property NOI

$ in thousands
	2Q26		2Q25		6M26		6M25
GAAP Reconciliation:
Net income attributable to Curbline	$6,910		$10,392		$10,473		$20,942
Interest expense	8,372		1,767		16,260		2,334
Interest income	(1,477)		(5,580)		(4,385)		(11,233)
Depreciation and amortization	26,464		16,039		52,123		30,502
General and administrative	9,240		8,156		18,863		17,084
Other expense (income), net	(1,742)		(95)		(2,738)		(553)
Gain on disposition of real estate, net	0		0		0		(42)
Tax expense	65		72		134		177
Non-controlling interests	15		14		20		26
Total Curbline NOI	47,847		30,765		90,750		59,237
Less: Non-Same Property NOI	(20,899)		(3,693)		(36,799)		(6,399)
Total Same-Property NOI	$26,948		$27,072		$53,951		$52,838
Total Curbline NOI % Change	55.5%				53.2%
Same-Property NOI % Change	(0.5%)				2.1%

8

Curbline Properties Corp.

Portfolio Summary

					6/30/2026		3/31/2026		12/31/2025		9/30/2025		6/30/2025
Quarterly Operational Overview
Properties					220		190		176		162		125
Owned GLA					5,242		4,559		4,323		3,984		3,212
Ground lease GLA					503		481		477		488		477
Total GLA					5,745		5,040		4,800		4,472		3,689
Base Rent PSF					$34.99		$34.91		$34.52		$34.38		$35.26
Commenced Rate					94.3%		94.1%		94.1%		93.9%		93.5%
Leased Rate					96.5%		96.3%		96.7%		96.7%		96.1%
Quarterly SPNOI					-0.5%		4.8%		1.5%		2.6%		6.2%
TTM New Leasing (GLA in 000's)					106		105		128		115		73
TTM Renewals (GLA in 000's)					415		328		286		264		216
TTM Total Leasing (GLA in 000's)					521		433		414		379		289
TTM Cash New Rent Spreads					20.2%		20.2%		19.4%		20.2%		15.3%
TTM Cash Renewal Rent Spreads					7.4%		7.1%		8.0%		9.1%		8.5%
TTM Cash Blended New and Renewal Rent Spreads					10.0%		10.3%		11.5%		12.6%		10.4%
TTM Straight-Lined New Rent Spreads					35.7%		35.9%		34.6%		36.2%		33.0%
TTM Straight-Lined Renewal Rent Spreads					17.1%		17.1%		18.3%		19.0%		18.1%
TTM Straight-Lined Blended New and Renewal Rent Spreads					20.8%		21.7%		23.4%		24.5%		22.4%
Top 20 MSAs
		MSA	Properties		GLA		% of GLA		ABR		% of ABR		ABR PSF
1		Atlanta-Sandy Springs-Roswell, GA	30		712		12.4%		$21,104		11.2%		$31.26
2		Miami-Fort Lauderdale-West Palm Beach, FL	8		504		8.8%		17,395		9.2%		$37.23
3		Phoenix-Mesa-Scottsdale, AZ	15		325		5.7%		12,652		6.7%		$40.15
4		Houston-The Woodlands-Sugar Land, TX	12		330		5.7%		12,126		6.4%		$39.71
5		Orlando-Kissimmee-Sanford, FL	6		291		5.1%		10,816		5.7%		$39.28
6		San Francisco-Oakland-Hayward, CA	3		141		2.5%		6,762		3.6%		$57.32
7		Jacksonville, FL	7		235		4.1%		6,628		3.5%		$28.49
8		Charlotte-Concord-Gastonia, NC-SC	8		242		4.2%		5,983		3.2%		$25.94
9		Dallas-Fort Worth-Arlington, TX	7		211		3.7%		5,947		3.1%		$30.94
10		Sacramento-Roseville-Arden-Arcade, CA	5		140		2.4%		5,202		2.8%		$37.69
11		Denver-Aurora-Lakewood, CO	9		157		2.7%		5,078		2.7%		$35.34
12		Riverside-San Bernardino-Ontario, CA	4		127		2.2%		4,496		2.4%		$38.40
13		Tampa-St. Petersburg-Clearwater, FL	5		128		2.2%		4,482		2.4%		$38.71
14		Chicago-Naperville-Elgin, IL-IN-WI	9		160		2.8%		4,480		2.4%		$30.00
15		Colorado Springs, CO	3		139		2.4%		4,268		2.3%		$34.06
16		Austin-Round Rock, TX	4		113		2.0%		4,123		2.2%		$37.08
17		Cleveland-Elyria, OH	4		92		1.6%		3,256		1.7%		$36.53
18		Minneapolis-St. Paul-Bloomington, MN-WI	4		90		1.6%		3,124		1.7%		$34.54
19		Columbus, OH	2		82		1.4%		2,994		1.6%		$36.39
20		Washington-Arlington-Alexandria, DC-VA-MD-WV	4		59		1.0%		2,802		1.5%		$47.75
		Other	71		1,467		25.5%		45,346		24.0%		$33.08
		Total	220		5,745		100.0%		$189,064		100.0%		$34.99
Note: $ and GLA in thousands except property count and base rent PSF.

9

Curbline Properties Corp.

Capital Structure

$, shares and units in thousands, except per share
	June 30, 2026			December 31, 2025
Market Value Per Share	$30.40			$23.21
Common Stock	114,038			105,368
Common Units	40			29
Total Common Stock and Units	114,078			105,397
Total Equity Market Capitalization	$3,467,971			$2,446,264
Unsecured Revolver	0			0
Unsecured Term Loans	250,000			250,000
Unsecured Notes Payable	350,000			178,000
Total Debt	600,000			428,000
Less: Cash(1)	154,721			289,553
Net Debt	445,279			138,447
Total Enterprise Value	$3,913,250			$2,584,711
(1) Excludes $8.4 million and $3.3 million of acquisition escrow deposits as of June 30, 2026 and December 31, 2025, respectively.
Unsecured Debt Covenants
Consolidated Outstanding Indebtedness Net of Restricted Cash	595,823			423,239
Consolidated Market Value	3,146,209			2,707,669
Consolidated Outstanding Indebtedness Ratio	19%			16%
Covenant	60%			60%
Consolidated Secured Indebtedness Net of Restricted Cash Collateral	0			0
Consolidated Market Value	3,146,209			2,707,669
Consolidated Secured Indebtedness Ratio	0%			0%
Covenant	35%			35%
Value of Unencumbered Assets	3,146,209			2,707,669
Consolidated Outstanding Unsecured Indebtedness Net of Restricted Cash	595,823			423,239
Unencumbered Asset Ratio	5.3X			6.4X
Covenant	1.7X			1.7X
Consolidated Cash Flow	143,654			124,779
Fixed Charges	24,916			11,400
Fixed Charge Ratio	5.8X			10.9X
Covenant	1.5X			1.5X
Unencumbered Adjusted NOI	135,041			112,286
Consolidated Unsecured Interest Expense	24,044			10,669
Unencumbered NOI Coverage Ratio	5.6X			10.5X
Covenant	1.8X			1.8X
Credit Ratings (Outlook)
Fitch	BBB (Stable)			BBB (Stable)

10

Curbline Properties Corp.

Debt Detail

$ in thousands
		Balance		Maturity Date(1)		Interest Rate(2)
Bank Debt
Unsecured Revolver ($400m)		$0		Sep-29		SOFR+0.85%
Unsecured Term Loan ($100m)		100,000		Oct-29		4.53%
Unsecured Term Loan ($150m)		150,000		Jan-31		4.61%
		$250,000
Unsecured Debt
Unsecured Notes - 2030		100,000		Sep-30		5.58%
Unsecured Notes - 2031		50,000		Jan-31		5.06%
Unsecured Notes - 2032		50,000		Sep-32		5.79%
Unsecured Notes - 2033		150,000		Jan-33		5.31%
		$350,000
Subtotal Debt		$600,000				5.07%
Unamortized Loan Costs, Net		(4,177)
Total Debt		$595,823

Maturity Schedule(1)		Secured	Unsecured	Total	Interest Rate(2)
2026		$0	$0	$0	-
2027		0	0	0	-
2028		0	0	0	-
2029		0	100,000	100,000	4.53%
2030		0	100,000	100,000	5.58%
2031		0	200,000	200,000	4.72%
2032		0	50,000	50,000	5.79%
2033		0	150,000	150,000	5.31%
2034 and beyond		0	0	0	-
Total		$0	$600,000	$600,000	5.07%
(1) Maturity dates assumed all borrower extension options are exercised.
(2) Rate excludes loan fees and unamortized loan costs. Interest rates are shown at hedged all-in rates where applicable.

11

Curbline Properties Corp.

Same Property Metrics

	Same-Property Net Operating Income(1)
	Quarterly Same-Property NOI					Annual Same-Property NOI
	2Q26		2Q25	Change		6M26		6M25	Change
Same Property - Leased rate	96.8%		96.2%	0.6%		96.8%		96.2%	0.6%
Same Property - Commenced rate	93.7%		93.5%	0.2%		93.7%		93.5%	0.2%
Revenues:
Minimum rents	$26,633		$26,029			$53,290		$51,790
Recoveries	9,077		9,480			18,250		18,532
Uncollectible revenue	(176)		(176)			(281)		(397)
Percentage and overage rents	256		269			390		362
Ancillary and other rental income	437		548			924		1,038
	36,227		36,150	0.2%		72,573		71,325	1.7%
Expenses:
Operating and maintenance	(4,676)		(4,617)			(9,403)		(9,523)
Real estate taxes	(4,603)		(4,461)			(9,219)		(8,964)
	(9,279)		(9,078)	2.2%		(18,622)		(18,487)	0.7%
Total Comparable SPNOI	$26,948		$27,072	-0.5%		$53,951		$52,838	2.1%
Non-Same Property NOI	20,899		3,693			36,799		6,399
Total Curbline NOI	$47,847		$30,765	55.5%		$90,750		$59,237	53.2%
Same-Property NOI Operating Margin	74.4%		74.9%			74.3%		74.1%
Same-Property NOI Recovery Rate	97.8%		104.4%			98.0%		100.2%
(1) See the definition in the Notable Accounting Policies and Non-GAAP Measures section and the GAAP reconciliation on page 8.

12

Curbline Properties Corp.

Leasing Summary

Leasing Activity												Net Effective Rents
	Comparable Pool						Total Pool							CapEx PSF
	Count	GLA	ABR PSF	Cash	Straight- lined		Count	GLA	ABR PSF	Term		GLA	ABR PSF	TA & LL	LC	Total	NER PSF	Term
New Leases
2Q26	11	26,154	$32.69	8.2%	27.1%		15	33,947	$31.16	9.0		33,947	$34.67	$4.90	$1.90	$6.80	$27.87	9.0
1Q26	5	10,377	$41.95	33.5%	55.9%		10	16,768	$39.10	9.1		15,538	$42.67	$4.46	$2.44	$6.90	$35.77	9.1
4Q25	10	20,651	$35.67	12.6%	26.2%		16	32,547	$36.66	8.1		29,944	$39.31	$5.26	$2.19	$7.45	$31.86	7.9
3Q25	16	49,186	$38.60	26.9%	39.7%		23	66,684	$37.20	9.7		29,063	$40.72	$4.24	$1.89	$6.13	$34.59	9.3
	42	106,368	$36.90	20.2%	35.7%		64	149,946	$35.93	9.1		108,492	$38.72	$4.76	$2.06	$6.82	$31.90	8.8
Renewals
2Q26	53	133,100	$33.76	8.6%	18.1%		53	133,100	$33.76	4.9		133,100	$35.31	$0.37	$0.00	$0.37	$34.94	4.9
1Q26	52	127,791	$33.14	5.9%	14.7%		52	127,791	$33.14	5.2		127,791	$34.46	$0.00	$0.00	$0.00	$34.46	5.2
4Q25	33	67,446	$37.32	4.7%	15.2%		33	67,446	$37.32	5.3		67,446	$39.33	$0.09	$0.00	$0.09	$39.24	5.3
3Q25	33	86,417	$34.88	10.3%	20.5%		33	86,417	$34.88	6.7		86,417	$37.20	$0.37	$0.14	$0.51	$36.69	6.7
	171	414,754	$34.38	7.4%	17.1%		171	414,754	$34.38	5.5		414,754	$36.10	$0.21	$0.03	$0.24	$35.86	5.5
New + Renewals
2Q26	64	159,254	$33.59	8.6%	19.6%		68	167,047	$33.24	5.8		167,047	$35.18	$1.81	$0.60	$2.41	$32.77	5.8
1Q26	57	138,168	$33.80	7.9%	17.8%		62	144,559	$33.83	5.7		143,329	$35.35	$0.78	$0.43	$1.21	$34.14	5.6
4Q25	43	88,097	$36.94	6.4%	17.6%		49	99,993	$37.11	6.2		97,390	$39.33	$2.15	$0.87	$3.02	$36.31	6.1
3Q25	49	135,603	$36.23	16.2%	27.4%		56	153,101	$35.89	8.0		115,480	$38.08	$1.60	$0.69	$2.29	$35.79	7.4
	213	521,122	$34.90	10.0%	20.8%		235	564,700	$34.79	6.4		523,246	$36.64	$1.54	$0.62	$2.16	$34.48	6.1

Leasing Spreads

•Cash Leasing Spreads are calculated by comparing the prior tenant’s annual base rent in the final year of the prior lease to the executed tenant’s annual base rent in the first year of the executed lease.

•Straight-Lined Leasing Spreads are calculated by comparing the prior tenant’s average base rent over the prior lease term to the executed tenant’s average base rent over the term of the executed lease.

•Both Cash and Straight-Lined Leasing spreads include leases vacant greater than twelve months along with split and combination deals and exclude first generation units and units vacant at the time of acquisition.

Net Effective Rents

•Net effective rents are calculated as the weighted average base rent per rentable square foot over the lease term less all costs associated with leasing the space including landlord work which represents property level improvements associated with the lease transaction. Excludes first generation space.

13

Curbline Properties Corp.

Lease Expiration Schedule

$ and GLA in thousands
Year	# of Leases		Expiring SF	% of SF Total	ABR	% of ABR Total		Rent PSF
MTM	16		33	0.6%	$1,130	0.6%		$34.24
2026	79		168	3.1%	5,597	3.0%		$33.32
2027	234		557	10.3%	19,264	10.2%		$34.59
2028	320		839	15.5%	27,940	14.8%		$33.30
2029	260		615	11.4%	20,786	11.0%		$33.80
2030	239		630	11.7%	21,973	11.6%		$34.88
2031	223		553	10.2%	18,337	9.7%		$33.16
2032	154		432	8.0%	16,184	8.6%		$37.46
2033	135		392	7.3%	13,855	7.3%		$35.34
2034	151		411	7.6%	15,639	8.3%		$38.05
2035	121		315	5.8%	12,069	6.4%		$38.31
Thereafter	127		458	8.5%	16,290	8.6%		$35.57
Total	2,059		5,403	100.0%	$189,064	100.0%		$34.99
Note: Before exercise of any lease options; includes ground leases.

14

Curbline Properties Corp.

Top 25 Tenants

$ and GLA in thousands
		Tenant	Units	Base Rent	% of Total	GLA	% of Total
1		Starbucks	41	$4,744	2.5%	80	1.4%
2		Verizon	23	2,937	1.6%	71	1.2%
3		Chipotle	20	2,411	1.3%	53	0.9%
4		Inspire Brands (1)	34	2,409	1.3%	66	1.1%
5		JAB Holding (2)	20	2,319	1.2%	58	1.0%
6		AT&T	25	2,008	1.1%	57	1.0%
7		Somnigroup (Mattress Firm)	13	1,929	1.0%	56	1.0%
8		Darden (3)	8	1,674	0.9%	54	0.9%
9		T-Mobile	19	1,555	0.8%	41	0.7%
10		JPMorgan Chase	8	1,540	0.8%	34	0.6%
11		Five Guys	13	1,416	0.7%	32	0.6%
12		Restaurant Brands International (4)	19	1,377	0.7%	43	0.7%
13		AFC Urgent Care	9	1,355	0.7%	44	0.8%
14		Total Wine & More	2	1,345	0.7%	49	0.9%
15		Jersey Mike's	25	1,343	0.7%	39	0.7%
16		GoTo Foods (5)	15	1,266	0.7%	39	0.7%
17		Chick-Fil-A	7	1,257	0.7%	37	0.6%
18		FedEx Office	10	1,233	0.7%	37	0.6%
19		Self Esteem Brands (6)	14	1,174	0.6%	39	0.7%
20		First Watch Restaurant Group	7	1,117	0.6%	30	0.5%
21		Cava	7	1,083	0.6%	18	0.3%
22		Cracker Barrel (7)	6	1,083	0.6%	39	0.7%
23		Xponential Fitness (8)	15	1,023	0.5%	28	0.5%
24		Brinker (Chili's)	6	1,018	0.5%	34	0.6%
25		The UPS Store	19	960	0.5%	28	0.5%
		Top 25 Total	385	$41,576	22.0%	1,106	19.3%
		Total Portfolio		$189,064	100.0%	5,745	100.0%
(1) Dunkin (14) / Jimmy John's (14) / Buffalo Wild Wings Go (3) / Buffalo Wild Wings (2) / Baskin Robbins (1)
(2) Panera Bread (10) / Einstein Bros. Bagels (7) / Bruegger's Bagels (2) / Caribou Coffee (1)
(3) Longhorn Steakhouse (4) / Olive Garden (3) / Chuy's (1)
(4) Firehouse Subs (13) / Popeye's Chicken (4) / Burger King (2)
(5) Moe's Southwest Grill (5) / McAlister's Deli (5) / Jamba Juice (4) / Schlotzsky's Deli (1)
(6) Orangetheory Fitness (8) / Waxing the City (3) / Anytime Fitness (2) / Base Camp Fitness (1)
(7) Cracker Barrel (3) / Maple Street Biscuit (3)
(8) Club Pilates (7) / Stretchlab (3) / YogaSix (3) / Pure Barre (2)

15

Curbline Properties Corp.

Acquisitions

$ and GLA in thousands
		Property Name		MSA		GLA		Price
01/22/26		Village at Research Park		Charlotte-Concord-Gastonia, NC-SC		14		$10,150
01/23/26		Shops at Dublin Commons		Colorado Springs, CO		34		20,500
02/04/26		Canyon Springs Station		Riverside-San Bernardino-Ontario, CA		8		4,890
02/04/26		Corner at Towne Lake		Atlanta-Sandy Springs-Roswell, GA		9		3,950
02/13/26		Cypress Creek Corner		Houston-The Woodlands-Sugar Land, TX		40		27,000
02/13/26		Southbrook Station		Austin-Round Rock, TX		34		25,750
02/20/26		Centennial Place Shops		Milwaukee-Waukesha-West Allis, WI		14		4,950
02/25/26		Augusta Crossing		Chicago-Naperville-Elgin, IL-IN-WI		15		5,900
02/26/26		Spalding Station		Atlanta-Sandy Springs-Roswell, GA		5		3,000
02/26/26		Shops at Avalon Chase		Orlando-Kissimmee-Sanford, FL		11		5,275
03/12/26		Corner at Arapahoe Plaza		Denver-Aurora-Lakewood, CO		8		4,925
03/13/26		Promenade Shoppes at Pine Gardens		Miami-Fort Lauderdale-West Palm Beach, FL		28		12,900
03/17/26		Mission Bend Plaza		Houston-The Woodlands-Sugar Land, TX		6		3,500
03/27/26		Bald Hill Corner		Providence-Warwick, RI-MA		12		9,734
				1Q 2026 Total		238		$142,424
04/07/26		Village at Arbor Lakes		Minneapolis-St. Paul-Bloomington, MN-WI		48		$28,000
04/16/26		Arroyo Ridge Shoppes		Las Vegas-Henderson-Paradise, NV		37		18,000
04/20/26		5-Property Portfolio		Various, TX		91		41,085
04/23/26		Tech Plaza		Athens-Clarke County, GA		12		6,675
04/30/26		Westwind Village		Atlanta-Sandy Springs-Roswell, GA		9		5,900
05/08/26		Bridgewater Commons		Orlando-Kissimmee-Sanford, FL		55		23,400
05/11/26		Shops at Arrowhead		Phoenix-Mesa-Scottsdale, AZ		13		10,200
05/11/26		Shops at Albertville Crossing		Minneapolis-St. Paul-Bloomington, MN-WI		12		3,585
05/15/26		Shops at Middletown Station		Louisville/Jefferson County, KY-IN		99		42,200
05/27/26		Tuxedo Festival		Atlanta-Sandy Springs-Roswell, GA		54		46,000
05/28/26		Market at Olive Shops South		St. Louis, MO-IL		12		7,550
05/28/26		Market at Olive Shops North		St. Louis, MO-IL		7		5,800
05/28/26		Evergreen Shops		Portland-Vancouver-Hillsboro, OR-WA		6		5,525
06/08/26		Shops at HighPointe Park		Denver-Aurora-Lakewood, CO		11		4,731
06/11/26		2-Property Portfolio		Sacramento-Roseville-Arden-Arcade, CA		36		18,230
06/11/26		Shops at Centennial		Denver-Aurora-Lakewood, CO		16		6,370
06/12/26		University Station		Austin-Round Rock, TX		13		8,900
06/15/26		Shops on Milliken		Riverside-San Bernardino-Ontario, CA		14		9,400
06/18/26		24th Street Market		Houston-The Woodlands-Sugar Land, TX		6		4,450
06/29/26		Western Waveland Plaza		Chicago-Naperville-Elgin, IL-IN-WI		18		10,450
06/29/26		Greenfield Station		Milwaukee-Waukesha-West Allis, WI		6		3,030
06/30/26		Shops at Fountain Square		Waterbury-Shelton, CT		56		30,500
06/30/26		Clybourn Center		Chicago-Naperville-Elgin, IL-IN-WI		33		18,000
06/30/26		Shops at Highbury Centre		Salt Lake City-Murray, UT		19		10,520
06/30/26		79th Street Center		Minneapolis-St. Paul-Bloomington, MN-WI		20		5,619
				2Q 2026 Total		703		$374,120
07/15/26		Shoppes at Crescent Park		Tampa-St. Petersburg-Clearwater, FL		24		$14,000
07/17/26		Carpenter's Landing		Houston-The Woodlands-Sugar Land, TX		16		7,735
07/17/26		Shops at Asante Trails		Phoenix-Mesa-Scottsdale, AZ		21		17,136
07/23/26		Ironwood Shops		Fort Collins-Loveland, CO		18		8,250
				3Q 2026 QTD		79		$47,121
				2026 YTD		1,020		$563,665

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Curbline Properties Corp.

Notable Accounting Policies and Non-GAAP Measures

The information contained in the Quarterly Financial Supplement does not purport to disclose all items required by the accounting principles generally accepted in the United States of America (“GAAP”) and is unaudited information. The Company’s Quarterly Financial Supplement should be read in conjunction with the Company’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.

Performance Measures

FFO and Operating FFO

The Company believes that Funds from Operations (“FFO”) and Operating FFO, both non-GAAP financial measures, provide additional and useful means to assess the financial performance of REITs. FFO and Operating FFO are frequently used by the real estate industry, as well as securities analysts, investors and other interested parties, to evaluate the performance of REITs. The Company also believes that FFO and Operating FFO more appropriately measure the core operations of the Company and provide benchmarks to its peer group.

FFO excludes GAAP historical cost depreciation and amortization of real estate and real estate investments, which assume that the value of real estate assets diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions, and many companies use different depreciable lives and methods. Because FFO excludes depreciation and amortization unique to real estate and gains and losses from property dispositions, it can provide a performance measure that, when compared year over year, reflects the impact on operations from trends in occupancy rates, rental rates, operating costs, interest costs and acquisition, disposition and development activities. This provides a perspective of the Company’s financial performance not immediately apparent from net income determined in accordance with GAAP.

FFO is generally defined and calculated by the Company as net income attributable to Curbline (computed in accordance with GAAP), adjusted to exclude (i) gains and losses from disposition of real estate property, which are presented net of taxes, (ii) impairment charges on real estate property, (iii) gains and losses from changes in control and (iv) certain non-cash items. These non-cash items principally include real property depreciation and amortization of intangibles net of depreciation allocated to non-controlling interests. The Company’s calculation of FFO is consistent with the definition of FFO provided by NAREIT.

The Company believes that certain charges, income and gains/losses recorded in its operating results are not comparable or reflective of its core operating performance. Operating FFO is useful to investors as the Company removes non-comparable charges, income and gains to analyze the results of its operations and assess performance of the core operating real estate portfolio. As a result, the Company also computes Operating FFO and discusses it with the users of its financial statements, in addition to other measures such as net income (loss) determined in accordance with GAAP and FFO. Operating FFO is generally defined and calculated by the Company as FFO excluding certain charges, income and gains/losses that management believes are not comparable and indicative of the results of the Company’s operating real estate portfolio. Such adjustments include gains/losses on the early extinguishments of debt, transaction costs and other restructuring type costs, including employee separation costs. The disclosure of these adjustments is regularly requested by users of the Company’s financial statements. The adjustment for these charges, income and gains/losses may not be comparable to how other REITs or real estate companies calculate their results of operations, and the Company’s calculation of Operating FFO differs from NAREIT’s definition of FFO. Additionally, the Company provides no assurances that these charges, income and gains/losses are non-recurring. These charges, income and gains/losses could be reasonably expected to recur in future results of operations.

These measures of performance are used by the Company for several business purposes and by other REITs. The Company uses FFO and/or Operating FFO in part (i) as a disclosure to improve the understanding of the Company’s operating results among the investing public, (ii) as a measure of a real estate asset’s performance, (iii) to influence acquisition, disposition and capital investment strategies and (iv) to compare the Company’s performance to that of other publicly traded shopping center REITs. For the reasons described above, management believes that FFO and Operating FFO provide the Company and investors with an important indicator of the Company’s operating performance. They provide recognized measures of performance other than GAAP net income, which may include non-cash items (often significant).

In calculating the expected range for or amount of net income attributable to Curbline to estimate projected FFO and Operating FFO for future periods, the Company does not include a projection of gains and losses from the

17

disposition of real estate property, potential impairments and reserves of real estate property, debt extinguishment costs or transaction costs. Other real estate companies may calculate expected FFO and Operating FFO in a different manner.

Management recognizes the limitations of FFO and Operating FFO when compared to GAAP’s net income. FFO and Operating FFO do not represent amounts available for dividends, capital replacement or expansion, debt service obligations or other commitments and uncertainties. Management does not use FFO or Operating FFO as an indicator of the Company’s cash obligations and funding requirements for future commitments, acquisitions or development activities. Neither FFO nor Operating FFO represents cash generated from operating activities in accordance with GAAP, and neither is necessarily indicative of cash available to fund cash needs. Neither FFO nor Operating FFO should be considered an alternative to net income (computed in accordance with GAAP) or as an alternative to cash flow as a measure of liquidity. FFO and Operating FFO are simply used as additional indicators of the Company’s operating performance. The Company believes that to further understand its performance, FFO and Operating FFO should be compared with the Company’s reported net income (loss) and considered in addition to cash flows determined in accordance with GAAP, as presented in its condensed financial statements. Reconciliations of these measures to their most directly comparable GAAP measure of net income (loss) have been provided herein.

Net Operating Income (“NOI”) and Same-Property Net Operating Income (“SPNOI”)

The Company uses NOI, which is a non-GAAP financial measure, as a supplemental performance measure. NOI is calculated as property revenues less property-related expenses and excludes depreciation and amortization expense, interest income and expense and corporate level transactions. The Company believes NOI provides useful information to investors regarding the Company’s financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level and, when compared across periods, reflects the impact on operations from trends in occupancy rates, rental rates, operating costs and acquisition and disposition activity on an unleveraged basis.

The Company also presents NOI information on a same-property basis, or SPNOI. The Company defines SPNOI as property revenues less property-related expenses, which excludes depreciation and amortization expense, interest income and expense and corporate level transactions, as well as straight-line rental income and reimbursements and expenses, lease termination income, management fee expense and fair market value of leases. SPNOI only includes assets owned for the entirety of both comparable periods. Other real estate companies may calculate NOI and SPNOI in a different manner. The Company believes SPNOI provides investors with additional information regarding the operating performance of comparable assets because it excludes certain non-cash and non-comparable items as noted above. SPNOI is frequently used by the real estate industry, as well as securities analysts, investors and other interested parties, to evaluate the performance of REITs.

SPNOI is not, and is not intended to be, a presentation in accordance with GAAP. SPNOI information has its limitations as it excludes any capital expenditures associated with the re-leasing of tenant space or as needed to operate the assets. SPNOI does not represent amounts available for dividends, capital replacement or expansion, debt service obligations or other commitments and uncertainties. Management does not use SPNOI as an indicator of the Company’s cash obligations and funding requirements for future commitments, acquisitions or development activities. SPNOI does not represent cash generated from operating activities in accordance with GAAP and is not necessarily indicative of cash available to fund cash needs. SPNOI should not be considered as an alternative to net income (computed in accordance with GAAP) or as an alternative to cash flow as a measure of liquidity. A reconciliation of NOI and SPNOI to its most directly comparable GAAP measure of net income (loss) has been provided herein.

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CURBLINE PROPERTIES INVESTOR RELATIONS DEPARTMENT e: ir@curbline.com w: curbline.com 320 Park Avenue, 27th Floor, New York, NY 10022; 3300 Enterprise Pkwy Beachwood, OH 44122 tf: 833-610-0761 p: 216-755-6200 f: 216-274-9711 • NYSE:CURB CURB LISTED NYSE

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Filing Exhibits & Attachments

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• EX-99.1 EX-99.1 1.5 MB

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• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 23.3 KB