SITE Centers (NYSE: SITC) boosts cash with $752.5M in 2025 property sales

Rhea-AI Filing Summary

SITE Centers Corp. reported a sharp swing to profitability in Q4 2025 driven by large property sales and debt reduction as it continues repositioning after the Curbline spin-off.

Fourth quarter net income attributable to common shareholders was $134.4 million, or $2.55 per diluted share, versus a net loss of $13.2 million, or $0.25 per diluted share, a year earlier, mainly from higher gains on dispositions, lower interest expense and no preferred dividends.

Operating FFO, which strips out non-core items, fell to $2.9 million, or $0.05 per diluted share, from $8.3 million, or $0.16, reflecting reduced NOI from sold properties. In 2025 the company sold 14 properties for $752.5 million, paid off all consolidated mortgage debt, and declared dividends totaling $6.75 per share, including $2.00 per share in special distributions for the quarter. At December 31, 2025, the leased rate was 87.8% pro rata, down from 91.1% a year earlier, and SITE Centers held $119.0 million of unrestricted cash while all remaining wholly owned retail assets are being marketed for sale to maximize shareholder value.

Insights

REIT and real estate capital allocation analyst

SITE Centers is accelerating a strategic wind-down, swapping assets for cash and dividends.

SITE Centers is deep into a portfolio sell-down strategy. In 2025 it sold 14 properties for $752.5 million and has all remaining wholly owned retail assets being marketed. Q4 net income of $134.4 million is heavily driven by disposition gains, not recurring rent.

Core earnings power is shrinking: full-year Operating FFO dropped to $25.2 million (per-share $0.48) from $166.7 million (per-share $3.17). NOI and leased rates declined as assets were sold and vacancy at The Maxwell increased, while leased rate fell to 87.8% pro rata at December 31, 2025.

The balance sheet is now lightly levered, with consolidated mortgage debt repaid and net debt turning negative when including cash and JV cash at SITE’s share. The company declared $6.75 per share of dividends in 2025, including special distributions, highlighting a focus on returning sale proceeds as it advances toward an anticipated operational wind-up.

0000894315false☐00008943152026-02-262026-02-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 26, 2026

SITE Centers Corp.

(Exact name of Registrant as Specified in Its Charter)

Ohio	1-11690	34-1723097
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
3300 Enterprise Parkway, Beachwood, Ohio		44122
(Address of Principal Executive Offices)		(Zip Code)

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

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:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Shares, Par Value $0.10 Per Share		SITC		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 February 26, 2026, SITE Centers Corp. (the “Company”) issued a quarterly financial supplement containing financial and property information of the Company (“Quarterly Supplement”) for the quarter ended December 31, 2025 which includes a News Release containing financial results of the Company. A copy of the Company’s Quarterly Financial Supplement dated December 31, 2025, is attached hereto as Exhibit 99.1, which is incorporated herein by reference. This information shall not be deemed to be “filed” for the 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 (the “Securities Act”) 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 December 31, 2025
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 thereunto duly authorized.

		SITE Centers Corp.
Date: February 26, 2026		By:	/s/ Jeffrey A. Scott
		Name: Jeffrey A. Scott
		Title: Senior Vice President and Chief Accounting               Officer

Exhibit 99.1

Exhibit 99.1

Exhibit

SITE Centers Corp.

Table of Contents

Section	Page
Earnings Release & Financial Statements
Press Release	1-6
Company Summary
Portfolio Summary	7
Capital Structure and Debt Detail	8
Leasing Summary	9
Lease Expirations	10
Top 30 Tenants	11
Investments
Transactions	12
Unconsolidated Joint Ventures
Unconsolidated Joint Ventures	13-15
Shopping Center Summary
Property List	16
Reporting Policies and Other
Notable Accounting and Supplemental Policies	17-18
Non-GAAP Measures	19-20
Leasing Metrics for Wholly-Owned and Unconsolidated Joint Ventures at 100%	21-25

SITE Centers Corp.		For additional information:
3300 Enterprise Parkway		Gerald Morgan, EVP and
Beachwood, OH 44122 216-755-5500		Chief Financial Officer

FOR IMMEDIATE RELEASE:

SITE Centers Reports Fourth Quarter and Full-Year 2025 Results

Beachwood, Ohio, February 26, 2026 - SITE Centers Corp. (NYSE: SITC), an owner and manager of open-air shopping centers, announced today operating results for the quarter ended December 31, 2025.

“2025 proved to be an active year successfully realizing value and returning capital to shareholders. The Company sold 14 properties during the year for an aggregate price of $752.5 million, declared aggregate dividends of $6.75 per share and paid off all consolidated mortgage debt. All remaining wholly-owned retail real estate assets are in the process of being marketed for sale as the Company remains focused on maximizing value for shareholders,” commented David R. Lukes, President and Chief Executive Officer. “Since the spinoff of Curbline Properties, SITE Centers has sold over 66% of the Company’s assets as measured by net operating income for the quarter ended December 31, 2024 on a pro rata basis and continues to make progress returning remaining capital to shareholders.”

Results for the Fourth Quarter

•Fourth quarter net income attributable to common shareholders was $134.4 million, or $2.55 per diluted share, as compared to a net loss of $13.2 million, or $0.25 per diluted share, in the year-ago period. The increase year-over-year was primarily the result of higher gain on sale from dispositions, a decrease in interest expense and a decrease in preferred dividend expense, partially offset by the net impact of property dispositions, an increase in impairment charges and an increase in debt extinguishment costs.

•Fourth quarter operating funds from operations attributable to common shareholders (“Operating FFO” or “OFFO”) was $2.9 million, or $0.05 per diluted share, compared to $8.3 million, or $0.16 per diluted share, in the year-ago period. The decrease year-over-year was primarily the result of lower net operating income (“NOI”) as a result of property dispositions, partially offset by decreased interest expense.

•Sold eight properties for an aggregate sales price of $380.0 million, all prior to closing costs, prorations and other closing adjustments. A portion of the net proceeds was used to repay $187.0 million of mortgage debt as well as a make-whole premium of approximately $7.0 million in connection with the Company’s repayment of the mortgage debt on Nassau Park Pavilion (Princeton, New Jersey).

•Acquired one land parcel from Curbline Properties Corp. (“Curbline or “Curbline Properties”) in Chapel Hill, North Carolina for an aggregate purchase price of $1.8 million in order to facilitate the future disposition of Meadowmont Market located adjacent thereto.

•In December 2025, the Company paid off the remaining consolidated mortgage loan balance of $64.0 million.

•The Company held $119.0 million of unrestricted cash at December 31, 2025. The Company expects to maintain a higher cash balance pending resolution of the Dividend Trust Portfolio joint venture in order to maximize options for monetizing its remaining joint venture investment.

Significant Fourth Quarter Activity and Key Operating Results

•Paid special cash distributions aggregating $2.00 per common share for the quarter.

•Recorded an additional impairment charge of $7.5 million on one wholly-owned asset.

•Recorded insurance claims expense of $0.9 million in the fourth quarter of 2025 as compared to $0.4 million in the fourth quarter of 2024. On an annual basis, the Company recorded $0.7 million and $0.9 million for the years ended December 31, 2025 and 2024, respectively.

•Reported a leased rate of 87.8% at December 31, 2025 as compared to 87.6% at September 30, 2025 and 91.1% at December 31, 2024, all on a pro rata basis. The change in the leased rate was due primarily to transactional activity, the remaining mix of properties and increased vacancy at The Maxwell (Chicago, Illinois).

1

•Reported a commenced rate of 85.8% at December 31, 2025 as compared to 86.5% at September 30, 2025 and 90.6% at December 31, 2024, all on a pro rata basis. The decrease in the commenced rate was due primarily to transactional activity, the remaining mix of properties and increased vacancy at The Maxwell (Chicago, Illinois).

•Executed two new leases and 11 renewals for 74,950 square feet during the quarter.

•In 2025, eliminated the reclassification of general and administrative expense to operating and maintenance expense. For the three and twelve months ended December 31, 2024, the reported amounts of $1.2 million and $8.1 million, respectively, have been reclassified to conform with the current year presentation.

Recent Activity

•In January, the Company sold its partnership interests in the RVIP IIIB joint venture that owns Deer Park Town Center (Deer Park, Illinois) to the Company’s existing joint venture partner for approximately $20.8 million prior to closing costs.

•The Company has entered into agreements to sell two properties for which the buyers’ general due diligence period has expired.

Discontinued Operations

On October 1, 2024, the Company completed the spin-off of Curbline Properties. The spin-off of the convenience properties represented a strategic shift in the Company’s business and, as such, the Curbline properties are reflected as discontinued operations for the periods prior to the spin-off date of October 1, 2024.

About SITE Centers Corp.

SITE Centers is an owner and manager of open-air shopping centers. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company and is publicly traded on the New York Stock Exchange under the ticker symbol SITC. Additional information about the Company is available at www.sitecenters.com. To be included in the Company’s e-mail distributions for press releases and other investor news, please click here.

Supplemental Information

Copies of the Company's quarterly financial supplement are available on the Investor Relations portion of the Company's website, ir.sitecenters.com.

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 real estate investment trust (“REIT”) performance. Management believes that both FFO and Operating FFO provide additional indicators of the financial performance of a REIT. 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 is generally defined and calculated by the Company as net income (loss) (computed in accordance with generally accepted accounting principles in the United States (“GAAP”)), adjusted to exclude (i) preferred share dividends, (ii) gains and losses from disposition of real estate property and related investments, which are presented net of taxes, (iii) impairment charges on real estate property and related investments, (iv) gains and losses from changes in control and (v) certain non-cash items. These non-cash items principally include real property depreciation and amortization of intangibles, equity income (loss) from joint ventures and adding the Company’s proportionate share of FFO from its unconsolidated joint ventures, determined on a consistent basis. 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.

The Company also uses NOI, a non-GAAP financial measure, as a supplemental performance measure. NOI is calculated as property revenues less property-related expenses. 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.

FFO, Operating FFO and NOI 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

2

as a measure of liquidity. Reconciliations of these non-GAAP measures to their most directly comparable GAAP measures have been provided herein.

Safe Harbor

SITE Centers 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, our ability to enter into agreements to sell our remaining properties on commercially reasonable terms and to satisfy closing conditions applicable to such sales; our ability to resolve and realize value from our remaining joint venture investment; impairment charges; general economic conditions, including inflation and interest rate volatility; local conditions such as the supply of, and demand for, retail real estate space in our geographic markets; the loss of, significant downsizing of or bankruptcy of a major tenant and the impact of any such event on rental income from other tenants and our properties; the impact of e-commerce; property damage, expenses related thereto and other business and economic consequences (including the potential loss of rental revenues) resulting from extreme weather conditions or natural disasters in locations where we own properties, and the sufficiency and timing of any insurance recovery payments related thereto; the impact of pandemics and other public health crises; our ability to finance our businesses on commercially acceptable terms or at all; unauthorized access, use, theft or destruction of financial, operations or third party data maintained in our information systems or by third parties on our behalf; our ability to maintain REIT status; and our ability to project known and contingent expenses and liabilities arising in connection with the anticipated wind-up of our operations and any change in strategy. 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 reports on Forms 10-K and 10-Q. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

3

SITE Centers Corp.

Income Statement: Consolidated Interests

	in thousands, except per share
		4Q25		4Q24		12M25		12M24
	Revenues:
	Rental income (1)	$17,275		$32,583		$103,590		$269,286
	Other property revenues	231		282		9,898		1,801
		17,506		32,865		113,488		271,087
	Expenses:
	Operating and maintenance (2)	5,550		7,714		24,644		47,247
	Real estate taxes	2,603		4,543		15,909		40,292
		8,153		12,257		40,553		87,539
	Net operating income (3)	9,353		20,608		72,935		183,548
	Other income (expense):
	JV and other fee income (4)	2,950		2,035		10,161		6,380
	Interest expense	(456)		(5,833)		(15,310)		(59,463)
	Depreciation and amortization	(7,868)		(13,061)		(44,809)		(101,344)
	General and administrative (5)	(10,735)		(9,603)		(39,843)		(55,205)
	Other income (expense), net (6)	(8,911)		335		(10,420)		(16,761)
	Impairment charges	(7,500)		0		(114,070)		(66,600)
	Loss before earnings from JVs and other	(23,167)		(5,519)		(141,356)		(109,445)
	Equity in net (loss) income of JVs	(253)		(324)		(781)		82
	Gain on sale and change in control of interests	0		0		0		2,669
	Gain on disposition of real estate, net	157,106		50		319,772		633,219
	Tax benefit (expense)	744		(29)		226		(761)
	Income (loss) from continuing operations	134,430		(5,822)		177,861		525,764
	Income from discontinued operations (7)	0		0		0		6,060
	Net income (loss) SITE Centers	134,430		(5,822)		177,861		531,824
	Write-off of preferred share original issuance costs	0		(6,155)		0		(6,155)
	Preferred dividends	0		(1,271)		0		(9,638)
	Net income (loss) Common Shareholders	$134,430		($13,248)		$177,861		$516,031
	Weighted average shares – Basic – EPS	52,459		52,430		52,446		52,393
	Assumed conversion of diluted securities	240		0		0		191
	Weighted average shares – Diluted – EPS	52,699		52,430		52,446		52,584
	Basic earnings per share:
	From continuing operations	$2.55		$(0.25)		$3.36		$9.69
	From discontinued operations	0		0		0		0.12
	Total	$2.55		$(0.25)		$3.36		$9.81
	Diluted earnings per share:
	From continuing operations	$2.55		$(0.25)		$3.36		$9.65
	From discontinued operations	0		0		0		0.12
	Total	$2.55		$(0.25)		$3.36		$9.77
(1)	Rental income:
	Minimum rents	$10,631		$20,457		$66,508		$176,127
	Ground lease minimum rents	683		1,310		4,241		7,968
	Straight-line rent, net	28		675		680		3,065
	Amortization of (above)/below-market rent, net	87		111		516		1,381
	Percentage and overage rent	580		632		1,642		4,651
	Recoveries	4,453		8,401		26,683		70,360
	Uncollectible revenue	202		109		475		702
	Ancillary and other rental income	242		519		1,370		3,329
	Lease termination fees	0		0		0		1,334
	Embedded lease Shared Services Agreement (“SSA”) with Curbline	369		369		1,475		369
(2)	Includes the allocation of property management personnel expenses	218		NA		1,292		NA
	Insurance claims expense	892		348		735		854
(3)	Includes NOI from wholly-owned assets sold in 2025 and 2024	5,290		14,768		44,268		161,811
(4)	Curbline SSA fee	969		593		3,345		593
	Curbline SSA gross up	1,026		499		3,013		499
	Embedded Lease SSA	(369)		(369)		(1,475)		(369)
(5)	Other charges related to system conversion	692		361		1,938		1,272
(6)	Interest income (fees), net	1,278		1,775		3,772		31,620
	Transaction costs and other expenses	72		(941)		(864)		(1,685)
	Curbline SSA gross up	(1,026)		(499)		(3,013)		(499)
	Debt extinguishment costs	(9,235)		0		(10,315)		(42,822)
	Gain on debt retirement and gain (loss) on derivative instruments	0		0		0		(3,375)
(7)	Curbline assets classified as a "discontinued operation" for financial reporting purposes on a retrospective basis through September 30, 2024.

4

SITE Centers Corp.

Reconciliation: Net Income to FFO and Operating FFO

and Other Financial Information

	in thousands, except per share
		4Q25		4Q24		12M25		12M24
	Net income (loss) attributable to Common Shareholders	$134,430		($13,248)		$177,861		$516,031
	Depreciation and amortization of real estate	6,438		12,467		40,622		97,186
	Equity in net loss (income) of JVs	253		324		781		(82)
	JVs' FFO	1,316		1,337		5,867		6,040
	Discontinued operations' depreciation and amortization of real estate	0		0		0		29,556
	Impairment of real estate	7,500		0		114,070		66,600
	Gain on sale and change in control of interests	0		0		0		(2,669)
	Gain on disposition of real estate, net	(157,106)		(50)		(319,772)		(633,219)
	FFO attributable to Common Shareholders	($7,169)		$830		$19,429		$79,443
	Discontinued operations' transaction and debt extinguishment costs	0		0		0		30,851
	Write-off of preferred share original issuance costs	0		6,155		0		6,155
	Transaction, debt extinguishment and other (at SITE's share)	9,163		941		11,179		44,154
	Derivative mark-to-market	0		0		0		4,412
	Condemnation revenue	0		0		(8,379)		0
	Separation and other charges	885		361		2,922		1,709
	Total non-operating items, net	10,048		7,457		5,722		87,281
	Operating FFO attributable to Common Shareholders	$2,879		$8,287		$25,151		$166,724
	Weighted average shares & units – Basic: FFO & OFFO	52,459		52,430		52,446		52,393
	Assumed conversion of dilutive securities	0		0		0		191
	Weighted average shares & units – Diluted: FFO & OFFO	52,459		52,430		52,446		52,584
	FFO per share – Basic	$(0.14)		$0.02		$0.37		$1.52
	FFO per share – Diluted	$(0.14)		$0.02		$0.37		$1.51
	Operating FFO per share – Basic	$0.05		$0.16		$0.48		$3.18
	Operating FFO per share – Diluted	$0.05		$0.16		$0.48		$3.17
	Common stock dividends declared, per share	$2.00		$0.00		$6.75		$1.04
	Capital expenditures (SITE Centers share)(1):
	Redevelopment costs	0		39		0		4,849
	Maintenance capital expenditures	300		753		1,579		4,937
	Tenant allowances and landlord work	1,527		1,897		5,724		25,486
	Leasing commissions	177		389		951		3,634
	Construction administrative costs (capitalized)	401		320		1,761		2,533
	Certain non-cash items (SITE Centers share)(1):
	Straight-line rent	41		670		736		3,159
	Straight-line fixed CAM	6		22		44		178
	Amortization of below-market rent/(above), net	178		177		1,089		1,777
	Straight-line ground rent income (expense)	23		18		85		20
	Debt fair value and loan cost amortization	(584)		(908)		(3,186)		(5,398)
	Capitalized interest expense	16		25		73		571
	Stock compensation expense	(348)		(327)		(1,392)		(6,285)
	Non-real estate depreciation expense	(1,431)		(597)		(4,189)		(4,168)
(1)	Excludes amounts from discontinued operations for periods prior to October 1, 2024

5

SITE Centers Corp.

Balance Sheet: Consolidated Interests

	$ in thousands
		At Period End
		4Q25		4Q24
	Assets:
	Land	$47,182		$204,722
	Buildings	338,527		964,845
	Fixtures and tenant improvements	170,247		254,152
		555,956		1,423,719
	Depreciation	(332,774)		(654,389)
		223,182		769,330
	Construction in progress and land	2,554		2,682
	Real estate, net	225,736		772,012
	Investments in and advances to JVs	27,676		30,431
	Cash	119,034		54,595
	Restricted cash	3,781		13,071
	Receivables and straight-line (1)	13,015		25,437
	Intangible assets, net (2)	22,207		28,759
	Amounts receivable from Curbline	902		1,771
	Other assets, net	6,386		7,526
	Total Assets	418,737		933,602
	Liabilities and Equity:
	Secured debt	0		301,373
	Amounts payable to Curbline	22,107		33,762
	Other liabilities (3)	61,865		81,723
	Total Liabilities	83,972		416,858
	Common shares	5,247		5,247
	Paid-in capital	3,981,084		3,981,597
	Distributions in excess of net income	(3,651,338)		(3,473,458)
	Deferred compensation	0		8,041
	Accumulated other comprehensive income	0		5,472
	Common shares in treasury at cost	(228)		(10,155)
	Total Equity	334,765		516,744
	Total Liabilities and Equity	$418,737		$933,602
(1)	Straight-line rents (including fixed CAM), net	$3,511		$8,653
(2)	Operating lease right of use assets	14,700		15,818
(3)	Operating lease liabilities	34,330		35,532
	Below-market leases, net	4,670		9,306

6

SITE Centers Corp.

Portfolio Summary

					12/31/2025		9/30/2025		6/30/2025		3/31/2025		12/31/2024
Shopping Center Count
Operating Centers - 100%					19		27		31		33		33
Wholly Owned					8		16		20		22		22
JV Portfolio					11		11		11		11		11
Gross Leasable Area (GLA)
Owned and Ground Lease - Pro Rata Share					2,013		4,271		5,355		5,918		5,918
Wholly Owned					1,155		3,413		4,497		5,060		5,060
JV Portfolio - Pro Rata Share					858		858		858		858		858
Quarterly Operational Overview
Pro Rata Share
Base Rent PSF					$22.61		$19.62		$19.83		$19.75		$19.64
Base Rent PSF < 10K					$33.09		$31.05		$31.19		$31.46		$31.35
Base Rent PSF > 10K					$18.02		$15.86		$15.99		$16.12		$16.05
Commenced Rate					85.8%		86.5%		87.5%		89.4%		90.6%
Commenced Rate < 10K SF					79.4%		83.2%		85.6%		85.9%		85.8%
Commenced Rate > 10K SF					88.7%		87.6%		88.1%		90.5%		92.1%
Leased Rate					87.8%		87.6%		88.1%		89.8%		91.1%
Leased Rate < 10K SF					81.9%		84.2%		87.3%		87.1%		86.9%
Leased Rate > 10K SF					90.6%		88.7%		88.4%		90.6%		92.4%
Note: GLA in thousands. Base Rent PSF excludes ground leases. All results exclude the Company's owned Beachwood, OH headquarters office buildings.

7

SITE Centers Corp.

Capital Structure

$, shares and units in thousands, except per share
				December 31, 2025		December 31, 2024
Capital Structure
Market Value Per Share				$6.42		$15.29
Common Shares Outstanding				52,462		52,430
Common Shares Equity				$336,806		$801,655
Unconsolidated Mortgage Debt (at SITE share)				106,031		413,318
Less: Cash (including restricted cash and JV's at SITE share)				133,210		77,071
Net Debt				($27,179)		$336,247
Total Market Capitalization				$309,627		$1,137,902

SITE Centers Corp.

Debt Detail

$ in thousands
	Balance 100%		Balance SITE Share		Maturity Date		Contractual Interest Rate at 12/31/2025
Unconsolidated Mortgage Debt
Deer Park Town Center, IL(1)	$60,123		$29,911		12/26		SOFR + 200
DTP Loan Pool (10 assets)	380,600		76,120		01/29		6.38%
	$440,723		$106,031
Unconsolidated Mortgage Debt	$440,723		$106,031
Unamortized Loan Costs, Net	(11,527)		(2,356)
Total Unconsolidated Debt	$429,196		$103,675
Rate Type					Weighted Average Years		Weighted Average Interest Rate
Fixed	$380,600		$76,120		3.0 years		6.38%
Variable	60,123		29,911		0.9 years		5.00%
	$440,723		$106,031		2.7 years		5.99%
(1) 3.00% SOFR Interest Rate Cap through December 2026. Debt shown at share including promoted interest.
In January 2026, the Company sold its partnership interests in this joint venture and is no longer responsible for this debt.

8

SITE Centers Corp.

Leasing Summary

At pro rata share except for count
Leasing Activity
	Comparable Pool						Total Pool
				Leasing Spreads
	Count	GLA	ABR PSF	Cash	Term		Count	GLA	ABR PSF	Term
New Leases
4Q25	0	0	$0.00	0.0%	0.0		2	2,081	$25.92	10.4
3Q25	0	0	$0.00	0.0%	0.0		6	53,575	$16.50	10.0
2Q25	2	7,838	$24.16	(23.4%)	12.4		4	13,186	$27.47	11.5
1Q25	1	1,509	$42.00	6.8%	7.0		5	8,554	$32.37	8.6
	3	9,347	$27.04	(17.6%)	11.5		17	77,396	$20.38	10.1
Renewals
4Q25	11	72,869	$16.29	4.5%	5.0		11	72,869	$16.29	5.0
3Q25	23	183,056	$14.38	6.1%	4.8		23	183,056	$14.38	4.8
2Q25	13	131,627	$21.79	(1.7%)	9.3		13	131,627	$21.79	9.3
1Q25	17	66,937	$24.88	3.4%	4.4		17	66,937	$24.88	4.4
	64	454,489	$18.38	2.5%	6.1		64	454,489	$18.38	6.1
New + Renewals
4Q25	11	72,869	$16.29	4.5%	5.0		13	74,950	$16.55	5.2
3Q25	23	183,056	$14.38	6.1%	4.8		29	236,631	$14.86	6.0
2Q25	15	139,465	$21.93	(3.4%)	9.5		17	144,813	$22.31	9.5
1Q25	18	68,446	$25.26	3.5%	4.5		22	75,491	$25.73	4.9
	67	463,836	$18.56	1.8%	6.2		81	531,885	$18.67	6.7

Net Effective Rents
			Capex PSF				NER		% of GLA
	GLA	ABR PSF	TA	LL Work	LC	Total	PSF	Term	>10K SF	<10K SF
New Leases
4Q25	2,081	$28.65	$2.02	$0.37	$1.71	$4.10	$24.55	10.4	0%	100%
3Q25	53,575	$17.15	$1.46	$5.41	$0.62	$7.49	$9.66	10.0	95%	5%
2Q25	13,186	$32.55	$1.46	$0.00	$1.45	$2.91	$29.64	11.5	25%	75%
1Q25	8,554	$36.46	$2.63	$0.03	$2.27	$4.93	$31.53	8.6	0%	100%
	77,396	$22.21	$1.58	$3.72	$0.96	$6.26	$15.95	10.1	70%	30%
Renewals
4Q25	72,869	$16.45	$0.00	$0.00	$0.00	$0.00	$16.45	5.0	77%	23%
3Q25	183,056	$14.46	$0.00	$0.00	$0.00	$0.00	$14.46	4.8	85%	15%
2Q25	131,627	$22.98	$3.63	$0.00	$0.01	$3.64	$19.34	9.3	92%	8%
1Q25	66,937	$25.52	$0.06	$0.00	$0.00	$0.06	$25.46	4.4	38%	62%
	454,489	$18.88	$1.62	$0.00	$0.00	$1.62	$17.26	6.1	79%	21%
New + Renewals
4Q25	74,950	$16.79	$0.11	$0.02	$0.10	$0.23	$16.56	5.2	74%	26%
3Q25	236,631	$15.07	$0.55	$2.05	$0.23	$2.83	$12.24	6.0	87%	13%
2Q25	144,813	$23.86	$3.39	$0.00	$0.17	$3.56	$20.30	9.5	86%	14%
1Q25	75,491	$26.76	$0.57	$0.01	$0.45	$1.03	$25.73	4.9	33%	67%
	531,885	$19.36	$1.61	$0.82	$0.22	$2.65	$16.71	6.7	77%	23%
Note: ABR PSF represents year one base rent for leasing spreads and the average rent for the initial term for net effective rent. Term is weighted average in years.

9

SITE Centers Corp.

Lease Expirations

At pro rata share except for count; $ and GLA in thousands
Assumes no exercise of lease options
	Greater than 10K SF									Less than 10K SF									Total
Year	# of Leases		Expiring SF	% of SF > 10K	ABR	% of ABR > 10K		Rent PSF		# of Leases		Expiring SF	% of SF < 10K	ABR	% of ABR < 10K		Rent PSF		# of Leases		Expiring SF	% of SF Total	ABR	% of ABR Total		Rent PSF
MTM	0		0	0.0%	$0	0.0%		$0.00		7		11	2.1%	$387	2.3%		$35.18		7		11	0.6%	$387	1.1%		$35.18
2026	12		168	13.2%	2,477	12.8%		$14.74		48		84	16.0%	2,433	14.7%		$28.96		60		252	14.0%	4,910	13.7%		$19.48
2027	17		212	16.7%	4,006	20.7%		$18.90		32		52	9.9%	1,589	9.6%		$30.56		49		264	14.7%	5,595	15.6%		$21.19
2028	17		116	9.1%	1,395	7.2%		$12.03		53		77	14.6%	2,561	15.5%		$33.26		70		193	10.7%	3,956	11.0%		$20.50
2029	10		172	13.5%	2,509	13.0%		$14.59		44		71	13.5%	2,525	15.3%		$35.56		54		243	13.5%	5,034	14.0%		$20.72
2030	14		114	9.0%	948	4.9%		$8.32		44		81	15.4%	2,403	14.5%		$29.67		58		195	10.9%	3,351	9.3%		$17.18
2031	12		88	6.9%	953	4.9%		$10.83		12		25	4.8%	753	4.5%		$30.12		24		113	6.3%	1,706	4.8%		$15.10
2032	1		14	1.1%	62	0.3%		$4.43		17		27	5.1%	972	5.9%		$36.00		18		41	2.3%	1,034	2.9%		$25.22
2033	7		85	6.7%	1,581	8.2%		$18.60		13		22	4.2%	759	4.6%		$34.50		20		107	6.0%	2,340	6.5%		$21.87
2034	4		23	1.8%	491	2.5%		$21.35		14		38	7.2%	1,104	6.7%		$29.05		18		61	3.4%	1,595	4.4%		$26.15
2035	7		70	5.5%	1,015	5.2%		$14.50		13		24	4.6%	800	4.8%		$33.33		20		94	5.2%	1,815	5.1%		$19.31
Thereafter	5		208	16.4%	3,903	20.2%		$18.76		7		14	2.7%	267	1.6%		$19.07		12		222	12.4%	4,170	11.6%		$18.78
Total	106		1,270	100.0%	$19,340	100.0%		$15.23		304		526	100.0%	$16,553	100.0%		$31.47		410		1,796	100.0%	$35,893	100.0%		$19.98
Signed Not Open	2		26		$377			$14.50		11		17		$595			$35.00		13		43		$972			$22.60
Vacant	10		133							72		118							82		251
Assumes all lease options are exercised
	Greater than 10K SF									Less than 10K SF									Total
Year	# of Leases		Expiring SF	% of SF > 10K	ABR	% of ABR > 10K		Rent PSF		# of Leases		Expiring SF	% of SF < 10K	ABR	% of ABR < 10K		Rent PSF		# of Leases		Expiring SF	% of SF Total	ABR	% of ABR Total		Rent PSF
MTM	0		0	0.0%	$0	0.0%		$0.00		7		11	2.1%	$387	2.3%		$35.18		7		11	0.6%	$387	1.1%		$35.18
2026	6		82	6.5%	1,767	9.1%		$21.55		34		61	11.6%	1,765	10.7%		$28.93		40		143	8.0%	3,532	9.8%		$24.70
2027	5		22	1.7%	253	1.3%		$11.50		24		37	7.0%	1,066	6.4%		$28.81		29		59	3.3%	1,319	3.7%		$22.36
2028	9		141	11.1%	2,062	10.7%		$14.62		44		70	13.3%	2,408	14.5%		$34.40		53		211	11.7%	4,470	12.5%		$21.18
2029	6		97	7.6%	1,704	8.8%		$17.57		38		58	11.0%	2,096	12.7%		$36.14		44		155	8.6%	3,800	10.6%		$24.52
2030	10		94	7.4%	592	3.1%		$6.30		38		75	14.3%	2,101	12.7%		$28.01		48		169	9.4%	2,693	7.5%		$15.93
2031	6		35	2.8%	187	1.0%		$5.34		17		30	5.7%	712	4.3%		$23.73		23		65	3.6%	899	2.5%		$13.83
2032	3		19	1.5%	281	1.5%		$14.79		16		21	4.0%	794	4.8%		$37.81		19		40	2.2%	1,075	3.0%		$26.88
2033	5		33	2.6%	716	3.7%		$21.70		12		17	3.2%	631	3.8%		$37.12		17		50	2.8%	1,347	3.8%		$26.94
2034	0		0	0.0%	0	0.0%		$0.00		15		21	4.0%	820	5.0%		$39.05		15		21	1.2%	820	2.3%		$39.05
2035	3		14	1.1%	222	1.1%		$15.86		10		10	1.9%	404	2.4%		$40.40		13		24	1.3%	626	1.7%		$26.08
Thereafter	53		733	57.7%	11,556	59.8%		$15.77		49		115	21.9%	3,369	20.4%		$29.30		102		848	47.2%	14,925	41.6%		$17.60
Total	106		1,270	100.0%	$19,340	100.0%		$15.23		304		526	100.0%	$16,553	100.0%		$31.47		410		1,796	100.0%	$35,893	100.0%		$19.98
Note: Includes ground leases. Excludes Company’s owned Beachwood OH headquarters office buildings.

10

SITE Centers Corp.

Top 30 Tenants

$ and GLA in thousands
			Number of Units			Base Rent			Owned GLA
		Tenant	WO	JV	Total	Pro Rata	% of Total	At 100%	Pro Rata	% of Total	At 100%
1		Kroger (1)	2	0	2	3,494	9.7%	3,494	124	6.2%	124
2		Burlington	1	1	2	1,599	4.5%	1,983	70	3.5%	104
3		LA Fitness (Xsport Fitness)	1	0	1	1,502	4.2%	1,502	45	2.2%	45
4		Cinemark	1	1	2	1,300	3.6%	1,300	100	5.0%	124
5		AMC Theatres	0	3	3	1,037	2.9%	5,183	46	2.3%	232
6		Nordstrom Rack	1	0	1	731	2.0%	731	37	1.8%	37
7		Five Below	3	5	8	731	2.0%	1,395	38	1.9%	73
8		Gold's Gym	1	0	1	720	2.0%	720	30	1.5%	30
9		Gap (2)	1	7	8	663	1.8%	2,056	40	2.0%	122
10		Dick's Sporting Goods (3)	0	5	5	610	1.7%	3,050	49	2.4%	244
11		Publix Supermarkets	1	1	2	572	1.6%	932	56	2.8%	100
12		TJX Companies (4)	0	9	9	527	1.5%	2,637	45	2.2%	223
13		24 Hour Fitness	1	0	1	504	1.4%	504	36	1.8%	36
14		Gladstone's 4 Fish	1	0	1	465	1.3%	465	12	0.6%	12
15		Lowe's	0	2	2	452	1.3%	2,259	52	2.6%	261
16		Ross Stores	0	6	6	452	1.3%	2,258	36	1.8%	181
17		Verizon	2	3	5	430	1.2%	841	9	0.4%	18
18		University of NC Health Care	1	0	1	413	1.2%	413	14	0.7%	14
19		Kohl's	0	3	3	411	1.1%	2,055	47	2.3%	237
20		MTY Group (5)	2	2	4	406	1.1%	463	10	0.5%	12
21		Michaels	1	4	5	398	1.1%	1,379	41	2.0%	118
22		Best Buy	0	3	3	392	1.1%	1,962	28	1.4%	141
23		Hyatt Hotel	1	0	1	355	1.0%	355	15	0.7%	15
24		Tailored Brands (Men's Wearhouse)	1	2	3	335	0.9%	526	8	0.4%	15
25		Crate & Barrel	0	1	1	328	0.9%	660	12	0.6%	23
26		Landry's	1	0	1	322	0.9%	322	8	0.4%	8
27		California Pizza Kitchen	1	1	2	317	0.9%	424	7	0.3%	10
28		Williams-Sonoma Store (6)	0	2	2	307	0.9%	618	9	0.4%	18
29		Columbia Sportswear Company	1	0	1	292	0.8%	292	8	0.4%	8
30		Brinker Restaurant Corp (Chili's)	2	0	2	265	0.7%	265	12	0.6%	12
		Top 30 Total	27	61	88	$20,330	56.6%	$41,044	1,044	51.9%	2,597
		Total Portfolio				$35,893	100.0%	$78,677	2,013	100.0%	4,910
(1) Harris Teeter (1) / Mariano's (1)
(2) Gap (2) / Old Navy (5) / Banana Republic (1)
(3) Dick's Sporting Goods (3) / Going Going Gone (1) / Golf Galaxy (1)
(4) T.J. Maxx (1) / Marshalls (5) / HomeGoods (2) / Sierra Trading (1)
(5) Cold Stone Creamery (3) / Famous Dave's (1)
(6) Williams-Sonoma (1) / Pottery Barn (1)

11

SITE Centers Corp.

Transactions

$ and GLA in thousands
				SITE		Owned		Price
		Property Name	MSA	Own %		GLA		At 100%		At Share
Property Dispositions
			1Q 2025 Total			0		$0		$0
06/12/25		The Promenade at Brentwood	St. Louis, MO-IL	100%		338		$71,600		$71,600
06/16/25		Chapel Hills West	Denver-Aurora-Lakewood, CO	100%		225		23,650		23,650
			2Q 2025 Total			563		$95,250		$95,250
07/21/25		Sandy Plains Village	Atlanta-Sandy Springs-Roswell, GA	100%		174		$25,000		$25,000
08/01/25		Deer Valley Towne Center	Phoenix-Mesa-Chandler, AZ	100%		152		33,725		33,725
08/01/25		Winter Garden Village	Orlando-Kissimmee-Sanford, FL	100%		629		165,000		165,000
09/26/25		Edgewater Towne Center	New York-Newark-Jersey City, NY-NJ-PA	100%		76		53,500		53,500
			3Q 2025 Total			1,031		$277,225		$277,225
11/03/25		Parker Pavilions	Denver-Aurora-Lakewood, CO	100%		51		$8,425		$8,425
11/20/25		Paradise Village Gateway	Phoenix-Mesa-Chandler, AZ	100%		211		28,500		28,500
11/21/25		Three Property Portfolio(1)	Various	100%		754		126,000		126,000
11/21/25		Nassau Park Pavilion	Trenton, NJ	100%		759		137,550		137,550
12/11/25		Downtown Short Pump	Richmond, VA	100%		126		31,500		31,500
12/31/25		Perimeter Pointe	Atlanta-Sandy Springs-Roswell, GA	100%		360		48,000		48,000
			4Q 2025 Total			2,261		$379,975		$379,975
			2025 Total			3,855		$752,450		$752,450
Sale of Partnership Interests
01/16/26		Deer Park Town Center(2)	Chicago-Naperville-Elgin, IL-IN-WI			358		N/A		$20,762
(1) The Company sold East Hanover Plaza (East Hanover, NJ), Southmont Plaza (Easton, PA), and Stow Community Center (Stow, OH).
(2) In January 2026, the Company sold its partnership interests in RVIP IIIB to its existing joint venture partner.

12

SITE Centers Corp.

Unconsolidated Joint Ventures

$ and GLA in thousands
Joint Venture		SITE Own %		Number of Properties		Owned GLA		Leased Rate		ABR		4Q25 NOI at 100% (1)		Gross RE Assets		Debt Balance at 100% (2)
Chinese Institutional Investors    DTP		20%		10		3,397		92.8%		$15.27		$12,507		$613,169		$380,600
Prudential    RVIP IIIB, Deer Park, IL (3)		50%		1		358		84.1%		$37.38		1,858		115,289		60,123
Total				11		3,755						$14,365		$728,458		$440,723
Property management fees												598	(1)
NOI from assets sold in prior quarters												(30)
Net operating income												$14,933	(4)
(1) Property management fees charged by SITE to the joint venture are included as an expense in NOI, although presented in the combined income statement on page 15 in the Other Expense, net line item.
(2) Excludes unamortized loan costs, net of $11.5 million or $2.4 million at SITE's share.
(3) Ownership shown at share including promoted interest. On January 16, 2026, the Company sold its partnership interests to its joint venture partner for $20.8 million.
(4) Amount agrees to the combined income statement of the joint ventures which includes a reconciliation of the Non-GAAP measure to the applicable GAAP measure.
See calculation definition in the Non-GAAP Measures section.

13

SITE Centers Corp.

Unconsolidated Joint Ventures

Combined SITE JV Pro Rata Adjustments (1)
Income Statement Pro Rata Adjustments 4Q25			Balance Sheet Pro Rata Adjustments 4Q25
Revenues:			Assets:
Rental income (2)	$4,909		Land	$35,067
Other income (3)	76		Buildings	123,265
	4,985		Improvements	21,655
Expenses:				179,987
Operating and maintenance	824		Depreciation	(60,049)
Real estate taxes	590			119,938
	1,414		Construction in progress and land	3
Net operating income	3,571		Real estate, net	119,941
			Investment in JVs	461
Other income (expense):			Cash and restricted cash (4)	10,395
Fee income	0		Receivables, net	2,648
Interest expense	(1,911)		Other assets, net	1,935
Depreciation and amortization	(1,627)		Total Assets	135,380
Other income (expense), net	(347)
Loss before earnings from JVs	(314)		Liabilities and Equity:
Equity in net loss of JVs	252		Mortgage debt	103,675
Basis differences of JVs	(12)		Notes payable to SITE	495
Gain on disposition of real estate	74		Other liabilities	7,904
Net loss	$0		Total Liabilities	112,074
			JVs share of equity	461
FFO Reconciliation 4Q25			Distributions in excess of net income	22,845
Loss before earnings from JVs	($314)		Total Equity	23,306
Depreciation and amortization	1,627		Total Liabilities and Equity	$135,380
Basis differences of JVs	3
FFO at SITE's ownership interests	$1,316
OFFO at SITE's ownership interests	$1,316
(1) Information provided for SITE's share of JV investments and can be combined with SITE's consolidated financial statements for the same period.
(2) Rental Income:
Minimum rents	$3,388
Ground lease minimum rents	137
Straight-line rent, net	13
Amortization of (above) below market rent, net	92
Percentage and overage rent	157
Recoveries	1,101
Uncollectible revenue	21
(3) Other Income:
Ancillary and other rental income	76
Lease termination fees	0
(4) Includes $2.5 million of cash in the DTP joint venture

14

SITE Centers Corp.

Unconsolidated Joint Ventures at 100%

$ in thousands
Combined Income Statement
		4Q25		4Q24		12M25		12M24
Revenues:
Rental income (1)		$19,785		$19,001		$79,237		$80,744
Other income (2)		271		299		1,918		1,223
		20,056		19,300		81,155		81,967
Expenses:
Operating and maintenance		2,901		2,749		10,917		11,747
Real estate taxes		2,222		2,243		9,116		9,565
		5,123		4,992		20,033		21,312
Net operating income		14,933		14,308		61,122		60,655
Other income (expense):
Interest expense		(8,116)		(7,887)		(32,356)		(31,811)
Depreciation and amortization		(6,296)		(6,635)		(25,506)		(26,948)
Other expense, net		(1,421)		(1,328)		(5,585)		(6,639)
		(900)		(1,542)		(2,325)		(4,743)
Gain (loss) on disposition of real estate, net		368		(11)		369		10,354
Net income (loss) attributable to unconsolidated JVs		(532)		(1,553)		(1,956)		5,611
Depreciation and amortization		6,296		6,635		25,506		26,948
(Gain) loss on disposition of real estate, net		(368)		11		(369)		(10,354)
FFO		$5,396		$5,093		$23,181		$22,205
FFO at SITE's ownership interests		$1,316		$1,337		$5,867		$6,040
Operating FFO at SITE's ownership interests		$1,316		$1,337		$5,867		$6,229
(1) Rental Income:
Minimum rents		$13,578		$13,439		$54,336		$56,561
Ground lease minimum rents		686		681		2,752		2,822
Straight-line rent, net		94		(60)		353		289
Amortization of (above) below market rent, net		457		330		2,867		1,983
Percentage and overage rent		560		615		1,127		1,115
Recoveries		4,306		3,996		17,771		17,978
Uncollectible revenue		104		0		31		(4)
(2) Other Income:
Ancillary and other rental income		271		272		835		1,119
Lease termination fees		0		27		1,083		104
Combined Balance Sheet
						At Period End
						4Q25		4Q24
Assets:
Land						$159,567		$159,567
Buildings						497,973		494,062
Improvements						70,903		64,022
						728,443		717,651
Depreciation						(190,020)		(169,726)
						538,423		547,925
Construction in progress and land						15		352
Real estate, net						538,438		548,277
Cash and restricted cash						28,254		25,750
Receivables, net						10,497		9,660
Other assets, net						8,837		12,519
Total Assets						586,026		596,206
Liabilities and Equity:
Mortgage debt						429,196		426,462
Notes and accrued interest payable to SITE						1,846		1,894
Other liabilities						31,577		32,533
Total Liabilities						462,619		460,889
Accumulated equity						123,407		135,317
Total Equity						123,407		135,317
Total Liabilities and Equity						$586,026		$596,206

15

SITE CENTERS
Property List as of December 31, 2025
Note: GLA in thousands. Anchors include tenants greater than 20K SF. ABR PSF includes ground leases.
#	Center	Location	ST	SITE Own %	JV	Owned GLA	Population (000's)	Leased Rate	Average Household Income ($000's)	ABR PSF	Anchor Tenants
1	Ahwatukee Foothills Towne Center	Phoenix	AZ	20%	DTP	691	154	82.3%	$88	$20.30	AMC Theatres, Best Buy, Burlington, Golf Galaxy, HomeGoods, Lina Home Furnishings, Marshalls, Michaels, Ross Dress for Less, Sprouts Farmers Market
2	The Pike Outlets (1)	Long Beach	CA	100%		389	344	94.1%	$69	$25.38	Cinemark, Gold's Gym, H & M, Nike, Restoration Hardware
3	FlatAcres MarketCenter (1)	Parker	CO	100%		136	95	98.8%	$118	$18.67	24 Hour Fitness, Michaels, Ross Dress for Less
4	Connecticut Commons	Plainville	CT	20%	DTP	561	162	97.9%	$76	$14.31	Aldi, AMC Theatres, Dick's Sporting Goods, DSW, Kohl's, Lowe's, Marshalls, PetSmart
5	Shoppes at Paradise Pointe	Fort Walton Beach	FL	100%		73	60	82.5%	$65	$12.79	Publix
6	Towne Center Prado	Marietta	GA	20%	DTP	287	126	89.4%	$78	$12.39	Going Going Gone, Publix, Ross Dress for Less
7	3030 North Broadway	Chicago	IL	100%		132	757	100.0%	$113	$35.65	Mariano's
8	The Maxwell	Chicago	IL	100%		240	979	57.0%	$98	$25.69	Burlington, Nordstrom Rack
9	Deer Park Town Center (3)	Deer Park	IL	50%	RVIP IIIB	358	130	84.1%	$116	$37.38	Century Theatre, Crate & Barrel, Gap
10	Brookside Marketplace	Tinley Park	IL	20%	DTP	317	177	98.9%	$89	$15.94	Best Buy, Dick's Sporting Goods, HomeGoods, Michaels, PetSmart, Ross Dress for Less, T.J. Maxx
11	Independence Commons	Independence	MO	20%	DTP	386	130	93.7%	$70	$15.55	AMC Theatres, Best Buy, Bob's Discount Furniture, Kohl's, Marshalls, Ross Dress for Less
12	Route 22 Retail Center	Union	NJ	20%	DTP	112	324	100.0%	$114	$14.64	Dick's Sporting Goods
13	Meadowmont Crossing (2)	Chapel Hill	NC	100%		39	101	95.8%	$103	$29.55	—
14	Meadowmont Market	Chapel Hill	NC	100%		49	101	91.7%	$101	$15.52	Harris Teeter
15	Poyner Place	Raleigh	NC	20%	DTP	252	127	100.0%	$80	$17.42	Cost Plus World Market, Marshalls, Michaels, Ross Dress for Less, Urban Air Trampoline & Adventure Park
16	University Centre	Wilmington	NC	20%	DTP	418	132	90.8%	$68	$12.05	Bob's Discount Furniture, Crunch Fitness, Lowe's, Old Navy, Ollie's Bargain Outlet, Ross Dress for Less
17	Headquarter Office Buildings	Beachwood	OH	100%		339	120	N/A	$122	(4)	—
18	The Blocks	Portland	OR	100%		97	373	70.0%	$95	$37.52	—
19	Ashley Crossing	Charleston	SC	20%	DTP	208	104	95.7%	$67	$11.72	Food Lion, Kohl's, Marshalls
20	Commonwealth Center	Midlothian	VA	20%	DTP	166	78	96.4%	$95	$16.44	Michaels, Painted Tree Marketplace, The Fresh Market
	Weighted Average Total						220	87.8%	$102
DTP - Dividend Trust Portfolio RVIP IIIB - Deer Park, IL
Note: Population and Average Household Income are for trade area of a 10 minute drive time from center
(1) The Pike Outlets and FlatAcres MarketCenter are subject to ground leases with current annual rent payments of $1.8 million and $0.3 million, respectively
(2) Meadowmont Crossing GLA, leased rate and ABR PSF exclude a 79K ground lease that is non-rent paying
(3) In January 2026, the Company sold its partnership interests in this asset to its existing joint venture partner.
(4) Corporate office buildings have 227K of leasable office space of which 152K is currently occupied by third parties and approximately 60K is occupied by SITE Centers/Curbline Properties. With respect to space currently occupied by third parties, ABR per occupied square foot is $26.80. Q4 2025 annualized NOI is $1.8M.

16

SITE Centers Corp.

Notable Accounting and Supplemental Policies

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 Form 10-K and Form 10-Q.

Discontinued Operations

•At October 1, 2024, the date the Company completed the spin-off of Curbline Properties into a separate publicly traded company, the Company had 79 convenience properties. The spin-off of the convenience properties represented a strategic shift in the Company’s business and, as such, the Curbline properties are reflected as discontinued operations through September 30, 2024.

Rental Income (Revenues)

•Percentage and overage rents that are recognized after the tenants’ reported sales have exceeded the applicable sales breakpoint.

•Tenant reimbursements are recognized in the period in which the expenses are incurred.

•Lease termination fees are recognized upon termination of a tenant’s lease when the Company has no further obligations under the lease.

•For those tenants where the Company is unable to assert that collection of amounts due over the lease term is probable, regardless if the Company has entered into a deferral agreement to extend the payment terms, the Company has categorized these tenants on the cash basis of accounting. As a result, no rental income is recognized from such tenants once they have been placed on the cash basis of accounting until payments are received and all existing accounts receivable relating to these tenants have been reserved in full, including straight-line rental income. The Company will remove the cash basis designation and resume recording rental income from such tenants during the period earned at such time it believes collection from the tenants is probable based upon a demonstrated payment history or recapitalization event.

General and Administrative Expenses

•General and administrative expenses include certain internal leasing salaries, legal salaries and related expenses associated with the leasing of space which are charged to operations as incurred.

•The Company does not capitalize any executive officer compensation.

•General and administrative expenses include executive property management compensation and related expenses. An allocation of property management services’ personnel expenses are reflected in operating and maintenance expenses.

Real Estate

•Real estate assets are stated at cost less accumulated depreciation, which, in the opinion of management, is not in excess of the individual property's estimated undiscounted future cash flows, including estimated proceeds from disposition.

•Construction in progress includes shopping center developments and significant expansions and redevelopments.

•Acquisitions of a partner’s interest in an unconsolidated joint venture in which a change of control has occurred are recorded at fair value.

•Depreciation and amortization are provided on a straight-line basis over the estimated useful lives of the assets as follows:

Buildings	31.5 years
Building Improvements	2 to 20 years
Furniture/Fixtures/ Tenant Improvements	Shorter of economic life or lease terms

Capitalization

•Expenditures for maintenance and repairs are charged to operations as incurred. Renovations and expenditures that improve or extend the life of the asset are capitalized.

•The Company capitalizes interest on funds used for the construction or expansion of shopping centers and certain construction administration costs. Capitalization of interest and administration costs ceases when construction activities are completed and the property is available for occupancy by tenants or when activities are suspended.

17

•Interest expense and real estate taxes incurred during construction are capitalized and depreciated over the building life. The Company does not capitalize interest on land held for development which is on hold and is not undergoing any development activities.

Gains on Sales of Real Estate

•Gains on sales of real estate generally related to the sale of outlots and land adjacent to existing shopping centers are recognized at closing when the earnings process is deemed to be complete.

18

SITE Centers Corp

Non-GAAP Measures

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 depreciable 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 (loss) (computed in accordance with GAAP), adjusted to exclude (i) preferred share dividends, (ii) gains and losses from disposition of real estate property and related investments, which are presented net of taxes, (iii) impairment charges on real estate property and related investments, (iv) gains and losses from changes in control and (v) certain non-cash items. These non-cash items principally include real property depreciation and amortization of intangibles, equity income (loss) from joint ventures and adding the Company’s proportionate share of FFO from its unconsolidated joint ventures, determined on a consistent basis. 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 write-off of preferred share original issuance costs, gains/losses on the early extinguishment of debt, certain transaction fee income, 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). Other real estate companies may calculate FFO and Operating FFO in a different manner.

19

SITE Centers Corp.

Non-GAAP Measures

In calculating the expected range for or amount of net (loss) income attributable to common shareholders to estimate projected FFO and Operating FFO for future periods, the Company does not include a projection of gain and losses from the disposition of real estate property, potential impairments and reserves of real estate property and related investments, debt extinguishment costs and certain 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 consolidated 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”)

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. 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.

In reliance on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K, reconciliation of the projected NOI growth to the most directly comparable GAAP financial measure is not provided because the Company is unable to provide such reconciliations without unreasonable effort due to the multiple components of the calculations which for the same store calculation only includes properties owned for comparable periods and excludes all corporate level activity as noted above.

Other Measures

SITE Pro Rata Share Financial Information

The Company believes that the SITE pro rata share of its joint ventures presented in the quarterly supplement is not, and is not intended to be, a presentation in accordance with GAAP. SITE share financial information is frequently used by the real estate industry including securities analysts, investors and other interested parties to evaluate the performance of SITE compared to other REITs. Other real estate companies may calculate such information in a different manner.

SITE does not control the unconsolidated joint ventures and the presentations of SITE JV Pro Rata Adjustments of the unconsolidated joint ventures presented in the quarterly supplement do not represent the Company’s legal claim to such items. The Company provides this information because the Company believes it assists investors and analysts in estimating the effective interest in SITE’s unconsolidated joint ventures when read in conjunction with the Company’s reported results under GAAP. The presentation of this information has limitations as an analytical tool. Because of the limitations, this information should not be considered in isolation or as a substitute for the Company’s financial statements as reported under GAAP.

20

SITE Centers Corp.

Portfolio Summary at 100%

		12/31/2025		9/30/2025		6/30/2025		3/31/2025		12/31/2024
Shopping Center Summary
Operating Centers – 100%		19		27		31		33		33
Wholly Owned - SITE		8		16		20		22		22
JV Portfolio		11		11		11		11		11
Owned and Ground Lease GLA – 100%		4,910		7,168		8,252		8,815		8,815
Wholly Owned - SITE		1,155		3,413		4,497		5,060		5,060
JV Portfolio – 100%		3,755		3,755		3,755		3,755		3,755
Unowned GLA – 100%		872		2,189		2,821		2,856		2,856
Quarterly Operational Overview
SITE (100%)
Base Rent PSF		$18.66		$18.19		$18.51		$18.44		$18.37
Base Rent PSF < 10K		$30.81		$30.19		$30.42		$30.55		$30.40
Base Rent PSF > 10K		$14.82		$14.64		$14.86		$14.96		$14.92
Commenced Rate		88.8%		88.3%		88.5%		90.3%		91.0%
Leased Rate		90.4%		89.3%		89.5%		91.1%		92.1%
Leased Rate < 10K SF		83.2%		83.8%		86.0%		85.9%		86.1%
Leased Rate > 10K SF		93.0%		91.1%		90.6%		92.6%		94.0%
Wholly Owned SITE
Base Rent PSF		$25.99		$19.80		$20.01		$19.95		$19.81
Leased Rate		85.6%		87.0%		87.6%		89.4%		90.9%
Leased Rate < 10K SF		81.0%		85.2%		88.4%		88.2%		88.1%
Leased Rate > 10K SF		87.9%		87.5%		87.3%		89.8%		91.7%
Joint Venture (100%)
Base Rent PSF		$16.84		$16.90		$16.90		$16.67		$16.64
Leased Rate		91.9%		91.5%		91.7%		93.2%		93.7%
Leased Rate < 10K SF		84.1%		82.5%		83.1%		83.1%		83.6%
Leased Rate > 10K SF		94.5%		94.5%		94.5%		96.6%		97.0%
Joint Venture at Pro Rata Share
Base Rent PSF		$18.80		$18.96		$18.97		$18.72		$18.70
Leased Rate		91.0%		90.3%		90.7%		91.9%		92.1%
Leased Rate < 10K SF		83.2%		80.9%		82.4%		81.9%		81.5%
Leased Rate > 10K SF		94.2%		94.2%		94.2%		96.2%		96.6%
Note: GLA in thousands. Base Rent PSF excludes ground leases. All results exclude the Company's owned Beachwood, OH headquarters office buildings.

21

SITE Centers Corp.

Leasing Summary

Wholly Owned at 100%
Leasing Activity
	Comparable Pool						Total Pool
				Leasing Spreads
	Count	GLA	ABR PSF	Cash	Term		Count	GLA	ABR PSF	Term
New Leases
4Q25	0	0	$0.00	0.0%	0.0		0	0	$0.00	0.0
3Q25	0	0	$0.00	0.0%	0.0		3	35,937	$16.98	10.0
2Q25	1	4,565	$32.00	0.5%	10.5		3	9,913	$32.17	10.3
1Q25	1	1,509	$42.00	6.8%	7.0		3	7,077	$35.30	9.4
	2	6,074	$34.48	2.3%	9.6		9	52,927	$22.28	10.0
Renewals
4Q25	4	57,358	$15.92	4.2%	5.0		4	57,358	$15.92	5.0
3Q25	7	131,131	$14.02	4.7%	4.5		7	131,131	$14.02	4.5
2Q25	8	111,635	$23.50	(2.1%)	10.1		8	111,635	$23.50	10.1
1Q25	11	56,306	$25.96	3.4%	4.4		11	56,306	$25.96	4.4
	30	356,430	$19.18	1.7%	6.3		30	356,430	$19.18	6.3
New + Renewals
4Q25	4	57,358	$15.92	4.2%	5.0		4	57,358	$15.92	5.0
3Q25	7	131,131	$14.02	4.7%	4.5		10	167,068	$14.66	5.7
2Q25	9	116,200	$23.84	(2.0%)	10.1		11	121,548	$24.21	10.1
1Q25	12	57,815	$26.38	3.5%	4.4		14	63,383	$27.00	4.9
	32	362,504	$19.44	1.7%	6.3		39	409,357	$19.58	6.8

Net Effective Rents
			Capex PSF				NER
	GLA	ABR PSF	TA	LL Work	LC	Total	PSF	Term
New Leases
4Q25	0	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	0.0
3Q25	35,937	$17.66	$2.04	$8.07	$0.88	$10.99	$6.67	10.0
2Q25	9,913	$34.99	$2.15	$0.00	$1.67	$3.82	$31.17	10.3
1Q25	7,077	$40.01	$2.80	$0.00	$2.38	$5.18	$34.83	9.4
	52,927	$23.89	$2.16	$5.49	$1.22	$8.87	$15.02	10.0
Renewals
4Q25	57,358	$16.05	$0.00	$0.00	$0.00	$0.00	$16.05	5.0
3Q25	131,131	$14.08	$0.00	$0.00	$0.00	$0.00	$14.08	4.5
2Q25	111,635	$24.90	$3.96	$0.00	$0.01	$3.97	$20.93	10.1
1Q25	56,306	$26.66	$0.07	$0.00	$0.00	$0.07	$26.59	4.4
	356,430	$19.77	$1.99	$0.00	$0.00	$1.99	$17.78	6.3
New + Renewals
4Q25	57,358	$16.05	$0.00	$0.00	$0.00	$0.00	$16.05	5.0
3Q25	167,068	$14.85	$0.77	$3.06	$0.33	$4.16	$10.69	5.7
2Q25	121,548	$25.72	$3.81	$0.00	$0.15	$3.96	$21.76	10.1
1Q25	63,383	$28.15	$0.65	$0.00	$0.50	$1.15	$27.00	4.9
	409,357	$20.31	$2.02	$1.05	$0.24	$3.31	$17.00	6.8
Note: ABR PSF represents year one base rent for leasing spreads and the average rent for the initial term for net effective rent. Term is weighted average in years.

22

SITE Centers Corp.

Leasing Summary

Unconsolidated Joint Ventures at 100%
Leasing Activity
	Comparable Pool						Total Pool
				Leasing Spreads
	Count	GLA	ABR PSF	Cash	Term		Count	GLA	ABR PSF	Term
New Leases
4Q25	0	0	$0.00	0.0%	0.0		2	10,406	$25.92	10.4
3Q25	0	0	$0.00	0.0%	0.0		3	88,189	$15.52	10.0
2Q25	1	16,363	$13.22	(57.5%)	15.0		1	16,363	$13.22	15.0
1Q25	0	0	$0.00	0.0%	0.0		2	7,384	$18.32	5.0
	1	16,363	$13.22	(57.5%)	15.0		8	122,342	$16.27	10.4
Renewals
4Q25	7	77,557	$17.63	5.6%	5.1		7	77,557	$17.63	5.1
3Q25	16	245,197	$13.32	8.9%	5.6		16	245,197	$13.32	5.6
2Q25	5	99,962	$12.24	2.8%	5.1		5	99,962	$12.24	5.1
1Q25	6	53,153	$19.19	3.5%	4.7		6	53,153	$19.19	4.7
	34	475,869	$14.45	6.3%	5.3		34	475,869	$14.45	5.3
New + Renewals
4Q25	7	77,557	$17.63	5.6%	5.1		9	87,963	$18.61	5.8
3Q25	16	245,197	$13.32	8.9%	5.6		19	333,386	$13.90	6.7
2Q25	6	116,325	$12.38	(15.3%)	6.5		6	116,325	$12.38	6.5
1Q25	6	53,153	$19.19	3.5%	4.7		8	60,537	$19.08	4.8
	35	492,232	$14.41	1.6%	5.6		42	598,211	$14.82	6.4

Net Effective Rents
			Capex PSF				NER
	GLA	ABR PSF	TA	LL Work	LC	Total	PSF	Term
New Leases
4Q25	10,406	$28.65	$2.02	$0.37	$1.71	$4.10	$24.55	10.4
3Q25	88,189	$16.10	$0.27	$0.00	$0.08	$0.35	$15.75	10.0
2Q25	16,363	$25.18	$0.00	$0.00	$1.01	$1.01	$24.17	15.0
1Q25	7,384	$19.45	$1.08	$0.26	$1.35	$2.69	$16.76	5.0
	122,342	$18.59	$0.39	$0.04	$0.44	$0.87	$17.72	10.4
Renewals
4Q25	77,557	$17.94	$0.00	$0.00	$0.00	$0.00	$17.94	5.1
3Q25	245,197	$13.46	$0.00	$0.00	$0.00	$0.00	$13.46	5.6
2Q25	99,962	$12.29	$0.00	$0.00	$0.00	$0.00	$12.29	5.1
1Q25	53,153	$19.44	$0.00	$0.00	$0.00	$0.00	$19.44	4.7
	475,869	$14.61	$0.00	$0.00	$0.00	$0.00	$14.61	5.3
New + Renewals
4Q25	87,963	$19.20	$0.43	$0.08	$0.37	$0.88	$18.32	5.8
3Q25	333,386	$14.16	$0.10	$0.00	$0.03	$0.13	$14.03	6.7
2Q25	116,325	$14.10	$0.00	$0.00	$0.33	$0.33	$13.77	6.5
1Q25	60,537	$19.44	$0.14	$0.03	$0.17	$0.34	$19.10	4.8
	598,211	$15.43	$0.13	$0.01	$0.15	$0.29	$15.14	6.4
Note: ABR PSF represents year one base rent for leasing spreads and the average rent for the initial term for net effective rent. Term is weighted average in years.

23

SITE Centers Corp.

Leasing Expirations

Wholly Owned at 100%; $ and GLA in thousands
Assumes no exercise of lease options
	Greater than 10K SF									Less than 10K SF									Total
Year	# of Leases		Expiring SF	% of SF > 10K	ABR	% of ABR > 10K		Rent PSF		# of Leases		Expiring SF	% of SF < 10K	ABR	% of ABR < 10K		Rent PSF		# of Leases		Expiring SF	% of SF Total	ABR	% of ABR Total		Rent PSF
MTM	0		0	0.0%	$0	0.0%		$0.00		4		9	2.7%	$309	3.1%		$34.33		4		9	0.9%	$309	1.4%		$34.33
2026	2		106	15.0%	1,985	16.6%		$18.73		18		59	18.0%	1,705	17.0%		$28.90		20		165	16.0%	3,690	16.8%		$22.36
2027	2		121	17.2%	2,802	23.5%		$23.16		10		29	8.8%	772	7.7%		$26.62		12		150	14.5%	3,574	16.3%		$23.83
2028	1		22	3.1%	153	1.3%		$6.95		18		52	15.9%	1,558	15.6%		$29.96		19		74	7.2%	1,711	7.8%		$23.12
2029	4		87	12.3%	1,610	13.5%		$18.51		10		34	10.4%	1,331	13.3%		$39.15		14		121	11.7%	2,941	13.4%		$24.31
2030	1		48	6.8%	0	0.0%		$0.00		14		58	17.7%	1,793	17.9%		$30.91		15		106	10.3%	1,793	8.2%		$16.92
2031	1		20	2.8%	0	0.0%		$0.00		3		16	4.9%	539	5.4%		$33.69		4		36	3.5%	539	2.5%		$14.97
2032	0		0	0.0%	0	0.0%		$0.00		2		9	2.7%	350	3.5%		$38.89		2		9	0.9%	350	1.6%		$38.89
2033	2		55	7.8%	846	7.1%		$15.38		3		13	4.0%	475	4.7%		$36.54		5		68	6.6%	1,321	6.0%		$19.43
2034	0		0	0.0%	0	0.0%		$0.00		5		23	7.0%	593	5.9%		$25.78		5		23	2.2%	593	2.7%		$25.78
2035	2		46	6.5%	715	6.0%		$15.54		3		14	4.3%	396	4.0%		$28.29		5		60	5.8%	1,111	5.1%		$18.52
Thereafter	4		200	28.4%	3,822	32.0%		$19.11		3		12	3.7%	184	1.8%		$15.33		7		212	20.5%	4,006	18.3%		$18.90
Total	19		705	100.0%	$11,933	100.0%		$16.93		93		328	100.0%	$10,005	100.0%		$30.50		112		1,033	100.0%	$21,938	100.0%		$21.24
Assumes all lease options are exercised
	Greater than 10K SF									Less than 10K SF									Total
Year	# of Leases		Expiring SF	% of SF > 10K	ABR	% of ABR > 10K		Rent PSF		# of Leases		Expiring SF	% of SF < 10K	ABR	% of ABR < 10K		Rent PSF		# of Leases		Expiring SF	% of SF Total	ABR	% of ABR Total		Rent PSF
MTM	0		0	0.0%	$0	0.0%		$0.00		4		9	2.7%	$309	3.1%		$34.33		4		9	0.9%	$309	1.4%		$34.33
2026	1		62	8.8%	1,503	12.6%		$24.24		13		43	13.1%	1,206	12.1%		$28.05		14		105	10.2%	2,709	12.3%		$25.80
2027	0		0	0.0%	0	0.0%		$0.00		6		19	5.8%	414	4.1%		$21.79		6		19	1.8%	414	1.9%		$21.79
2028	2		98	13.9%	1,453	12.2%		$14.83		16		49	14.9%	1,513	15.1%		$30.88		18		147	14.2%	2,966	13.5%		$20.18
2029	4		87	12.3%	1,610	13.5%		$18.51		9		29	8.8%	1,044	10.4%		$36.00		13		116	11.2%	2,654	12.1%		$22.88
2030	1		48	6.8%	0	0.0%		$0.00		13		54	16.5%	1,591	15.9%		$29.46		14		102	9.9%	1,591	7.3%		$15.60
2031	1		20	2.8%	0	0.0%		$0.00		5		17	5.2%	355	3.5%		$20.88		6		37	3.6%	355	1.6%		$9.59
2032	0		0	0.0%	0	0.0%		$0.00		4		10	3.0%	368	3.7%		$36.80		4		10	1.0%	368	1.7%		$36.80
2033	0		0	0.0%	0	0.0%		$0.00		3		10	3.0%	432	4.3%		$43.20		3		10	1.0%	432	2.0%		$43.20
2034	0		0	0.0%	0	0.0%		$0.00		3		8	2.4%	384	3.8%		$48.00		3		8	0.8%	384	1.8%		$48.00
2035	0		0	0.0%	0	0.0%		$0.00		1		2	0.6%	120	1.2%		$60.00		1		2	0.2%	120	0.5%		$60.00
Thereafter	10		390	55.3%	7,367	61.7%		$18.89		16		78	23.8%	2,269	22.7%		$29.09		26		468	45.3%	9,636	43.9%		$20.59
Total	19		705	100.0%	$11,933	100.0%		$16.93		93		328	100.0%	$10,005	100.0%		$30.50		112		1,033	100.0%	$21,938	100.0%		$21.24
Note: Includes ground leases. Excludes Company’s owned Beachwood OH headquarters office buildings.

24

SITE Centers Corp.

Leasing Expirations

Unconsolidated Joint Ventures at 100%; $ and GLA in thousands
Assumes no exercise of lease options
	Greater than 10K SF									Less than 10K SF									Total
Year	# of Leases		Expiring SF	% of SF > 10K	ABR	% of ABR > 10K		Rent PSF		# of Leases		Expiring SF	% of SF < 10K	ABR	% of ABR < 10K		Rent PSF		# of Leases		Expiring SF	% of SF Total	ABR	% of ABR Total		Rent PSF
MTM	0		0	0.0%	$0	0.0%		$0.00		3		8	1.1%	$233	1.1%		$29.13		3		8	0.2%	$233	0.4%		$29.13
2026	10		237	8.9%	2,458	7.1%		$10.37		30		104	13.9%	2,719	12.3%		$26.14		40		341	10.0%	5,177	9.1%		$15.18
2027	15		457	17.2%	6,023	17.4%		$13.18		22		86	11.5%	2,713	12.3%		$31.55		37		543	16.0%	8,736	15.4%		$16.09
2028	16		428	16.1%	5,404	15.6%		$12.63		35		100	13.4%	3,437	15.5%		$34.37		51		528	15.5%	8,841	15.6%		$16.74
2029	6		421	15.9%	4,497	13.0%		$10.68		34		131	17.6%	3,771	17.0%		$28.79		40		552	16.2%	8,268	14.6%		$14.98
2030	13		332	12.5%	4,738	13.7%		$14.27		30		101	13.5%	2,549	11.5%		$25.24		43		433	12.7%	7,287	12.8%		$16.83
2031	11		339	12.8%	4,763	13.8%		$14.05		9		35	4.7%	815	3.7%		$23.29		20		374	11.0%	5,578	9.8%		$14.91
2032	1		70	2.6%	311	0.9%		$4.44		15		62	8.3%	2,064	9.3%		$33.29		16		132	3.9%	2,375	4.2%		$17.99
2033	5		99	3.7%	2,061	6.0%		$20.82		10		37	5.0%	1,028	4.6%		$27.78		15		136	4.0%	3,089	5.4%		$22.71
2034	4		114	4.3%	2,455	7.1%		$21.54		9		37	5.0%	1,222	5.5%		$33.03		13		151	4.4%	3,677	6.5%		$24.35
2035	5		116	4.4%	1,498	4.3%		$12.91		10		33	4.4%	1158	5.2%		$35.09		15		149	4.4%	2,656	4.7%		$17.83
Thereafter	1		41	1.5%	403	1.2%		$9.83		4		12	1.6%	419	1.9%		$34.92		5		53	1.6%	822	1.4%		$15.51
Total	87		2,654	100.0%	$34,611	100.0%		$13.04		211		746	100.0%	$22,128	100.0%		$29.66		298		3,400	100.0%	$56,739	100.0%		$16.69
Assumes all lease options are exercised
	Greater than 10K SF									Less than 10K SF									Total
Year	# of Leases		Expiring SF	% of SF > 10K	ABR	% of ABR > 10K		Rent PSF		# of Leases		Expiring SF	% of SF < 10K	ABR	% of ABR < 10K		Rent PSF		# of Leases		Expiring SF	% of SF Total	ABR	% of ABR Total		Rent PSF
MTM	0		0	0.0%	$0	0.0%		$0.00		3		8	1.1%	$232	1.0%		$29.00		3		8	0.2%	$232	0.4%		$29.00
2026	5		99	3.7%	1,320	3.8%		$13.33		21		66	8.8%	1,873	8.5%		$28.38		26		165	4.9%	3,193	5.6%		$19.35
2027	5		110	4.1%	1,266	3.7%		$11.51		18		66	8.8%	2,105	9.5%		$31.89		23		176	5.2%	3,371	5.9%		$19.15
2028	7		175	6.6%	2,238	6.5%		$12.79		28		80	10.7%	2,897	13.1%		$36.21		35		255	7.5%	5,135	9.1%		$20.14
2029	2		47	1.8%	473	1.4%		$10.06		29		104	13.9%	3,275	14.8%		$31.49		31		151	4.4%	3,748	6.6%		$24.82
2030	9		230	8.7%	2,959	8.5%		$12.87		25		86	11.5%	2,047	9.3%		$23.80		34		316	9.3%	5,006	8.8%		$15.84
2031	5		76	2.9%	934	2.7%		$12.29		12		56	7.5%	1,310	5.9%		$23.39		17		132	3.9%	2,244	4.0%		$17.00
2032	3		94	3.5%	1,404	4.1%		$14.94		12		44	5.9%	1,539	7.0%		$34.98		15		138	4.1%	2,943	5.2%		$21.33
2033	5		113	4.3%	1,968	5.7%		$17.42		9		30	4.0%	761	3.4%		$25.37		14		143	4.2%	2,729	4.8%		$19.08
2034	0		0	0.0%	0	0.0%		$0.00		12		40	5.4%	1,169	5.3%		$29.23		12		40	1.2%	1,169	2.1%		$29.23
2035	3		69	2.6%	1,107	3.2%		$16.04		9		32	4.3%	1,017	4.6%		$31.78		12		101	3.0%	2,124	3.7%		$21.03
Thereafter	43		1,641	61.8%	20,942	60.5%		$12.76		33		134	18.0%	3,903	17.6%		$29.13		76		1,775	52.2%	24,845	43.8%		$14.00
Total	87		2,654	100.0%	$34,611	100.0%		$13.04		211		746	100.0%	$22,128	100.0%		$29.66		298		3,400	100.0%	$56,739	100.0%		$16.69
Note: Includes ground leases

25

SITE CENTERS 3300 ENTERPRISE PKWY, BEACHWOOD, OH 44122 O: 216-755-5500 F: 216-755-1500 SITECENTERS.COM NYSE: SITC

FAQ

How did SITE Centers Corp. (SITC) perform in Q4 2025?

SITE Centers reported Q4 2025 net income attributable to common shareholders of $134.4 million, or $2.55 per diluted share, versus a net loss of $13.2 million, or $0.25 per share, a year earlier, largely driven by higher gains on property dispositions and lower interest expense.

What were SITE Centers’ 2025 Operating FFO results?

For 2025, SITE Centers’ Operating FFO attributable to common shareholders was $25.2 million, or $0.48 per diluted share, down from $166.7 million, or $3.17 per diluted share in 2024, primarily reflecting lower net operating income after substantial property sales and related portfolio shrinkage.

How many properties did SITE Centers sell in 2025 and for how much?

In 2025, SITE Centers sold 14 properties with total GLA of 3,855 thousand square feet for an aggregate price of $752.5 million. Eight of those properties, totaling 2,261 thousand square feet, were sold in the fourth quarter for approximately $380.0 million before closing costs and adjustments.

What dividends did SITE Centers declare for 2025?

SITE Centers declared $6.75 per common share of dividends in 2025, compared with $1.04 per share in 2024. This included special cash distributions aggregating $2.00 per share in the fourth quarter, reflecting the company’s strategy of returning capital generated from asset dispositions to shareholders.

What is SITE Centers’ leasing and occupancy profile at year-end 2025?

At December 31, 2025, SITE Centers reported a pro rata leased rate of 87.8% and a commenced rate of 85.8%, down from 91.1% and 90.6%, respectively, a year earlier. The declines were driven by transactional activity, the remaining property mix, and increased vacancy at The Maxwell in Chicago.

How has SITE Centers’ balance sheet changed after its 2025 activity?

By year-end 2025, SITE Centers had paid off all consolidated mortgage debt and held $119.0 million of unrestricted cash. Including restricted cash and JV cash at SITE’s share, total cash of $133.2 million exceeded unconsolidated mortgage debt at SITE’s share of $106.0 million, resulting in negative net debt.

What strategic shift is underway at SITE Centers following the Curbline spin-off?

After spinning off Curbline Properties on October 1, 2024, SITE Centers has been selling a large portion of its remaining portfolio and returning capital. Since that spin-off, it has sold over 66% of assets by net operating income for the referenced quarter and is marketing all remaining wholly owned retail assets for sale.

Filing Exhibits & Attachments

2 documents

Press Releases

• EX-99.1 EX-99.1 3.2 MB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 48.5 KB