SITE Centers (NYSE: SITC) swings to OFFO loss amid major asset sales

Rhea-AI Filing Summary

SITE Centers Corp. reported sharply lower results for the first quarter of 2026 as it continues to shrink its shopping center portfolio. Net income was $0.9 million, or $0.02 per diluted share, down from $3.1 million, or $0.06 per share, a year earlier, reflecting impairment charges and reduced Net Operating Income after property sales, partly offset by gains on joint venture and real estate dispositions.

Operating funds from operations turned to a loss of $1.9 million, or $0.04 per diluted share, compared with income of $8.3 million, or $0.16 per share, in the prior-year quarter. During 2026 year-to-date the company sold three properties for $85.6 million and its interest in the Deer Park joint venture for $20.8 million, and held $193.5 million of unrestricted cash as of March 31, 2026. Portfolio metrics weakened, with the pro rata leased rate at 85.9% versus 89.8% a year earlier, and only 17,906 square feet leased through one new lease and eight renewals in the quarter.

Positive

• Balance sheet liquidity strengthened: Unrestricted cash rose to $193.5M at March 31, 2026, while unconsolidated mortgage debt at SITE’s share was $76.1M, giving the company substantial cash relative to its remaining debt obligations.
• Asset sale program generating significant proceeds: Year‑to‑date 2026, the company sold three wholly owned properties for an aggregate $85.6M and monetized its Deer Park Town Center joint venture interest for $20.8M, advancing its strategy to harvest value from the portfolio.

Negative

• Core earnings turned negative: Operating FFO shifted from income of $8.3M ($0.16 per share) in 1Q25 to a loss of $1.9M ($0.04 per share) in 1Q26, driven mainly by reduced Net Operating Income after property dispositions.
• Large impairment and shrinking NOI base: The company recorded $17.45M of impairment charges in 1Q26, while consolidated Net Operating Income fell from $28.5M to $4.4M, highlighting a smaller and less profitable property platform.
• Occupancy and leasing trends softened: The pro rata leased rate declined to 85.9% from 89.8% a year earlier, and only 17,906 square feet were executed across one new lease and eight renewals in the quarter, indicating reduced leasing momentum.

Insights

REIT and real estate capital markets analyst

Results show a deep earnings reset driven by heavy asset sales and impairments, partly cushioned by strong cash and low debt.

SITE Centers is rapidly transitioning from an operating shopping‑center platform toward a smaller, more liquid balance sheet. Rental income fell from $40.3M to $9.4M year over year, and Net Operating Income dropped from $28.5M to $4.4M, mainly because many properties were sold.

First‑quarter Operating FFO swung to a $1.9M loss from $8.3M of income, while the company booked $17.45M of impairments. These were largely offset by a $19.99M gain on sale of joint venture interests and $4.0M of gains on real estate dispositions, underscoring how non‑recurring items now dominate reported earnings.

The company exited or agreed to sell multiple centers, generating $85.6M of gross property proceeds year‑to‑date plus $20.8M from Deer Park Town Center partnership interests. Unrestricted cash reached $193.5M with only $76.1M of unconsolidated mortgage debt at share, while leased and commenced rates declined versus both the prior quarter and prior year as the asset base and tenant mix evolve. Subsequent filings may clarify progress on monetizing the remaining DTP joint venture investment and the longer‑term operating footprint.

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 Q1 2026: $0.9M (EPS $0.02 diluted) Operating FFO Q1 2026: -$1.9M (−$0.04/share) Impairment charges: $17.45M +5 more

8 metrics

Net income Q1 2026 $0.9M (EPS $0.02 diluted) Quarter ended March 31, 2026 vs $3.1M (EPS $0.06) in Q1 2025

Operating FFO Q1 2026 -$1.9M (−$0.04/share) Compared with $8.3M ($0.16/share) in Q1 2025

Impairment charges $17.45M Recorded in Q1 2026 income statement; none in Q1 2025

Gain on JV interest sale $19.99M Q1 2026 gain on sale of joint venture interests

Property dispositions 1Q 2026 $74.5M Aggregate gross sales price for two properties sold in Q1 2026

Deer Park JV proceeds $20.8M Sale of partnership interests in RVIP IIIB joint venture in January 2026

Unrestricted cash $193.5M Balance at March 31, 2026 on consolidated balance sheet

Leased rate 85.9% Pro rata leased rate at March 31, 2026 vs 89.8% at March 31, 2025

Key Terms

Operating FFO, Net Operating Income, unconsolidated joint ventures, non-GAAP financial measures, +1 more

5 terms

Operating FFO financial

"First quarter operating funds from operations (“Operating FFO” or “OFFO”) was a loss of $1.9 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.

Net Operating Income financial

"Net Operating Income (“NOI”) as a result of property dispositions"

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.

unconsolidated joint ventures financial

"adding the Company’s proportionate share of FFO from its unconsolidated joint ventures"

Unconsolidated joint ventures are business partnerships where a company shares ownership and control but keeps the venture’s full financials separate from its own books; the company typically reports only its share of profit or loss instead of combining all assets, liabilities and sales. This matters to investors because it can hide the venture’s full risks, debts and revenues from the parent’s financial statements, so understanding these arrangements helps assess true exposure and future cash flow potential — like seeing only your slice of a pie rather than the whole pie’s size.

non-GAAP financial measures financial

"Funds from Operations (“FFO”) is a supplemental non-GAAP financial measure used as a standard in the real estate industry"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

Dividend Trust Portfolio financial

"DTP - Dividend Trust Portfolio. SITE's ownership interest is 20% in the joint venture"

Earnings Snapshot

Net income: $0.9M

Q1 2026

Net income $0.9M down from $3.1M in Q1 2025

Diluted EPS $0.02 down from $0.06 in Q1 2025

Operating FFO -$1.9M from $8.3M in Q1 2025

Operating FFO per share -$0.04 from $0.16 in Q1 2025

Rental income $9.4M from $31.5M in Q1 2025

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

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

Date of Report (Date of earliest event reported): May 7, 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 May 7, 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 March 31, 2026 which includes a News Release containing financial results of the Company. A copy of the Company’s Quarterly Financial Supplement dated March 31, 2026, 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 March 31, 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 thereunto duly authorized.

		SITE Centers Corp.
Date: May 7, 2026		By:	/s/ Jeffrey A. Scott
		Name: Jeffrey A. Scott
		Title: Senior Vice President and Chief Accounting               Officer

Exhibit 99.1

Exhibit 99.1

SITE Centers Corp.

Table of Contents

Section	Page
Earnings Release & Financial Statements
Press Release	1-5
Company Summary
Portfolio Summary	6
Capital Structure and Debt Detail	7
Leasing Summary	8
Lease Expirations	9
Top 20 Tenants	10
Investments
Transactions	11
Unconsolidated Joint Ventures
Unconsolidated Joint Venture	12-14
Shopping Center Summary
Property List	15
Reporting Policies and Other
Notable Accounting and Supplemental Policies	16
Non-GAAP Measures	17-18
Leasing Metrics for Wholly-Owned and Unconsolidated Joint Venture at 100%	19-23

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 First Quarter 2026 Results

Beachwood, Ohio, May 7, 2026 - SITE Centers Corp. (NYSE: SITC) announced today operating results for the quarter ended March 31, 2026.

“Year to date, the Company has sold three properties for an aggregate gross sales price of approximately $85.6 million and sold its interests in the Deer Park joint venture for $20.8 million,” commented David R. Lukes, President and Chief Executive Officer. “SITE Centers remains focused on maximizing the value of its remaining assets through additional asset sales and resolution of its investment in the DTP joint venture.”

Results for the First Quarter

•First quarter net income was $0.9 million, or $0.02 per diluted share, as compared to $3.1 million, or $0.06 per diluted share, in the year-ago period. The decrease year-over-year was primarily the result of impairment charges and lower Net Operating Income (“NOI”) as a result of property dispositions offset by the gain on the sale of joint venture interests, increases on gain on disposition of real estate and interest income and decreases in interest expense, condemnation revenue and depreciation and amortization expense.

•First quarter operating funds from operations (“Operating FFO” or “OFFO”) was a loss of $1.9 million, or a loss of $0.04 per diluted share, compared to income of $8.3 million, or income of $0.16 per diluted share, in the year-ago period. The decrease year-over-year was primarily the result of lower NOI as a result of property dispositions partially offset by a decrease in interest expense and an increase in interest income.

•Sold two properties for an aggregate price of $74.5 million, all prior to closing costs, prorations and other closing adjustments.

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

•The Company held $193.5 million of unrestricted cash at March 31, 2026. The Company expects to maintain a higher cash balance pending the resolution of the DTP joint venture in order to maximize options to monetize its remaining joint venture investment.

Significant First Quarter Activity and Key Operating Results

•Reported a leased rate of 85.9% at March 31, 2026 as compared to 87.8% at December 31, 2025 and 89.8% at March 31, 2025, all on a pro rata basis. The change in the leased rate was due primarily to transactional activity and the remaining mix of properties.

•Reported a commenced rate of 84.7% at March 31, 2026 as compared to 85.8% at December 31, 2025 and 89.4% at March 31, 2025, all on a pro rata basis. The change in the commenced rate was due primarily to transactional activity and the remaining mix of properties.

•Executed one new lease and eight renewals for 17,906 square feet during the quarter.

Recent Activity

•Sold Meadowmont Crossing (Chapel Hill, North Carolina) on May 4, 2026 for an aggregate gross sales price of approximately $11.1 million.

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.

1

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) gains and losses from disposition of real estate property and related investments, which are presented net of taxes, (ii) impairment charges on real estate property and related investments and (iii) 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 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; 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.

2

SITE Centers Corp.

Income Statement: Consolidated Interests

	in thousands, except per share
		1Q26		1Q25
	Revenues:
	Rental income (1)	$9,241		$31,450
	Other property revenues	130		8,895
		9,371		40,345
	Expenses:
	Operating and maintenance (2)	3,293		7,132
	Real estate taxes	1,642		4,721
		4,935		11,853
	Net operating income (3)	4,436		28,492
	Other income (expense):
	JV and other fee income (4)	3,645		2,278
	Interest expense	0		(5,462)
	Depreciation and amortization	(5,017)		(13,252)
	General and administrative (5)	(8,899)		(9,395)
	Other income (expense), net (6)	197		(495)
	Impairment charges	(17,450)		0
	(Loss) income before earnings from JVs and other	(23,088)		2,166
	Equity in net (loss) income of JVs	(152)		39
	Gain on sale of joint venture interests	19,989		0
	Gain on disposition of real estate, net	4,007		1,029
	Tax benefit (expense)	182		(149)
	Net income	$938		$3,085
	Weighted average shares – Basic and Diluted– EPS	52,467		52,436
	Earnings per common share – Basic	$0.02		$0.06
	Earnings per common share – Diluted	$0.02		$0.06
(1)	Rental income:
	Minimum rents	$5,409		$20,366
	Ground lease minimum rents	308		1,321
	Straight-line rent, net	383		195
	Amortization of (above)/below-market rent, net	84		140
	Percentage and overage rent	249		364
	Recoveries	2,130		8,402
	Uncollectible revenue	36		(108)
	Ancillary and other rental income	192		401
	Lease termination fees	81		0
	Embedded lease Shared Services Agreement (“SSA”) with Curbline	369		369
(2)	Includes the allocation of property management personnel expenses	144		354
(3)	Includes NOI from wholly-owned assets sold in 2026 and 2025	1,017		16,563
(4)	Curbline SSA fee	1,082		692
	Curbline SSA gross up	1,763		631
	Embedded lease SSA	(369)		(369)
(5)	Other charges related to system conversion	9		515
(6)	Interest income (fees), net	1,191		361
	Transaction costs and other expenses	769		(225)
	Curbline SSA gross up	(1,763)		(631)

3

SITE Centers Corp.

Reconciliation: Net Income to FFO and Operating FFO

and Other Financial Information

	in thousands, except per share
		1Q26		1Q25
	Net income	$938		$3,085
	Depreciation and amortization of real estate	3,333		12,414
	Equity in net loss (income) of JVs	152		(39)
	JVs' FFO	947		1,593
	Impairment charges	17,450		0
	Gain on sale of joint venture interests	(19,989)		0
	Gain on disposition of real estate, net	(4,007)		(1,029)
	FFO	($1,176)		$16,024
	Transaction and other	(803)		122
	Condemnation revenue	0		(8,379)
	Other charges	95		515
	Total non-operating items, net	(708)		(7,742)
	Operating FFO	($1,884)		$8,282
	Weighted average shares & units – Basic: FFO & OFFO	52,467		52,436
	Assumed conversion of dilutive securities	0		0
	Weighted average shares & units – Diluted: FFO & OFFO	52,467		52,436
	FFO per share – Basic	$(0.02)		$0.31
	FFO per share – Diluted	$(0.02)		$0.31
	Operating FFO per share – Basic	$(0.04)		$0.16
	Operating FFO per share – Diluted	$(0.04)		$0.16
	Common stock dividends declared, per share	$0.00		$0.00
	Capital expenditures (SITE Centers share)(1):
	Maintenance capital expenditures	0		347
	Tenant allowances and landlord work	1,645		1,063
	Leasing commissions	151		285
	Construction administrative costs (capitalized)	204		440
	Certain non-cash items (SITE Centers share):
	Straight-line rent	395		219
	Straight-line fixed CAM	1		16
	Amortization of below-market rent/(above), net	185		235
	Straight-line ground rent income	35		20
	Debt fair value and loan cost amortization	(193)		(908)
	Stock compensation expense	(282)		(384)
	Non-real estate depreciation expense	(1,684)		(842)

4

SITE Centers Corp.

Balance Sheet: Consolidated Interests

	$ in thousands
		At Period End
		1Q26		4Q25
	Assets:
	Land	$25,096		$47,182
	Buildings	276,513		338,527
	Fixtures and tenant improvements	125,507		170,247
		427,116		555,956
	Depreciation	(279,634)		(332,774)
		147,482		223,182
	Construction in progress and land	516		2,554
	Real estate, net	147,998		225,736
	Investments in and advances to JVs	26,837		27,676
	Cash	193,453		119,034
	Restricted cash	4,622		3,781
	Receivables and straight-line (1)	10,934		13,015
	Intangible assets, net (2)	12,157		22,207
	Amounts receivable from Curbline	351		902
	Other assets, net	5,568		6,386
	Total Assets	401,920		418,737
	Liabilities and Equity:
	Amounts payable to Curbline	16,139		22,107
	Other liabilities (3)	49,831		61,865
	Total Liabilities	65,970		83,972
	Common shares	5,248		5,247
	Paid-in capital	3,981,137		3,981,084
	Distributions in excess of net income	(3,650,400)		(3,651,338)
	Common shares in treasury at cost	(35)		(228)
	Total Equity	335,950		334,765
	Total Liabilities and Equity	$401,920		$418,737
(1)	Straight-line rents (including fixed CAM), net	$3,790		$3,511
(2)	Operating lease right of use assets	10,284		14,700
(3)	Operating lease liabilities	29,912		34,330
	Below-market leases, net	3,485		4,670

5

SITE Centers Corp.

Portfolio Summary

					3/31/2026		12/31/2025		9/30/2025		6/30/2025		3/31/2025
Shopping Center Count
Operating Centers - 100%					16		19		27		31		33
Wholly Owned					6		8		16		20		22
JV Portfolio					10		11		11		11		11
Gross Leasable Area (GLA)
Owned and Ground Lease - Pro Rata Share					1,567		2,013		4,271		5,355		5,918
Wholly Owned					888		1,155		3,413		4,497		5,060
JV Portfolio - Pro Rata Share					679		858		858		858		858
Quarterly Operational Overview
Pro Rata Share
Base Rent PSF					$20.00		$22.61		$19.62		$19.83		$19.75
Base Rent PSF < 10K					$31.19		$33.09		$31.05		$31.19		$31.46
Base Rent PSF > 10K					$15.73		$18.02		$15.86		$15.99		$16.12
Commenced Rate					84.7%		85.8%		86.5%		87.5%		89.4%
Commenced Rate < 10K SF					74.9%		79.4%		83.2%		85.6%		85.9%
Commenced Rate > 10K SF					88.7%		88.7%		87.6%		88.1%		90.5%
Leased Rate					85.9%		87.8%		87.6%		88.1%		89.8%
Leased Rate < 10K SF					76.3%		81.9%		84.2%		87.3%		87.1%
Leased Rate > 10K SF					89.8%		90.6%		88.7%		88.4%		90.6%
Note: GLA in thousands. Base Rent PSF excludes ground leases. All results exclude the Company's owned Beachwood, OH headquarters office buildings.

6

SITE Centers Corp.

Capital Structure

$, shares and units in thousands, except per share
				March 31, 2026		December 31, 2025
Capital Structure
Market Value Per Share				$5.40		$6.42
Common Shares Outstanding				52,475		52,462
Equity Market Capitalization				$283,365		$336,806
Unconsolidated Mortgage Debt (at SITE share)				76,120		106,031
				359,485		442,837
Less: Cash (including restricted cash and JV's at SITE share)				(201,740)		(133,210)
Enterprise Value				$157,745		$309,627

SITE Centers Corp.

Debt Detail

$ in thousands
	Balance 100%		Balance SITE Share		Maturity Date		Contractual Interest Rate at 3/31/2026
Unconsolidated Mortgage Debt
DTP Loan Pool (10 assets)	$380,600		$76,120		01/29		6.38%
Unamortized Loan Costs, Net	(10,410)		(2,082)
Total Unconsolidated Debt	$370,190		$74,038

7

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
1Q26	1	9,307	$14.00	16.7%	10.5		1	9,307	$14.00	10.5
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
	3	17,145	$18.64	(10.9%)	11.4		13	78,149	$18.30	10.3
Renewals
1Q26	8	8,599	$23.44	1.9%	4.2		8	8,599	$23.44	4.2
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
	55	396,151	$17.39	2.3%	6.3		55	396,151	$17.39	6.3
New + Renewals
1Q26	9	17,906	$18.54	7.2%	7.5		9	17,906	$18.54	7.5
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
	58	413,296	$17.44	1.6%	6.5		68	474,300	$17.54	7.0

Net Effective Rents
			Capex PSF				NER
	GLA	ABR PSF	TA	LL Work	LC	Total	PSF	Term
New Leases
1Q26	9,307	$14.00	$2.86	$0.10	$0.57	$3.53	$10.47	10.5
4Q25	2,081	$28.65	$2.02	$0.37	$1.71	$4.10	$24.55	10.4
3Q25	53,575	$17.15	$1.46	$5.41	$0.62	$7.49	$9.66	10.0
2Q25	13,186	$32.55	$1.46	$0.00	$1.45	$2.91	$29.64	11.5
	78,149	$19.68	$1.64	$3.61	$0.80	$6.05	$13.63	10.3
Renewals
1Q26	8,599	$23.79	$0.25	$0.00	$0.00	$0.25	$23.54	4.2
4Q25	72,869	$16.45	$0.00	$0.00	$0.00	$0.00	$16.45	5.0
3Q25	183,056	$14.46	$0.00	$0.00	$0.00	$0.00	$14.46	4.8
2Q25	131,627	$22.98	$3.63	$0.00	$0.01	$3.64	$19.34	9.3
	396,151	$17.86	$1.78	$0.00	$0.00	$1.78	$16.08	6.3
New + Renewals
1Q26	17,906	$18.70	$2.16	$0.07	$0.42	$2.65	$16.05	7.5
4Q25	74,950	$16.79	$0.11	$0.02	$0.10	$0.23	$16.56	5.2
3Q25	236,631	$15.07	$0.55	$2.05	$0.23	$2.83	$12.24	6.0
2Q25	144,813	$23.86	$3.39	$0.00	$0.17	$3.56	$20.30	9.5
	474,300	$18.16	$1.75	$0.88	$0.20	$2.83	$15.33	7.0
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.

8

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		9		20	5.5%	$415	3.9%		$20.75		9		20	1.4%	$415	1.7%		$20.75
2026	6		84	8.1%	1,776	13.0%		$21.14		19		21	5.8%	681	6.3%		$32.43		25		105	7.5%	2,457	10.0%		$23.40
2027	13		152	14.7%	2,307	16.8%		$15.18		25		38	10.5%	1,046	9.7%		$27.53		38		190	13.6%	3,353	13.7%		$17.65
2028	15		84	8.1%	1,013	7.4%		$12.06		42		50	13.9%	1,482	13.8%		$29.64		57		134	9.6%	2,495	10.2%		$18.62
2029	11		175	16.9%	2,573	18.8%		$14.70		36		59	16.3%	1,897	17.6%		$32.15		47		234	16.8%	4,470	18.3%		$19.10
2030	14		114	11.0%	948	6.9%		$8.32		42		70	19.4%	2,094	19.5%		$29.91		56		184	13.2%	3,042	12.4%		$16.53
2031	16		145	14.0%	1,634	11.9%		$11.27		17		25	6.9%	702	6.5%		$28.08		33		170	12.2%	2,336	9.6%		$13.74
2032	3		25	2.4%	220	1.6%		$8.80		13		18	5.0%	607	5.6%		$33.72		16		43	3.1%	827	3.4%		$19.23
2033	5		68	6.6%	1,041	7.6%		$15.31		10		17	4.7%	544	5.1%		$32.00		15		85	6.1%	1,585	6.5%		$18.65
2034	4		23	2.2%	491	3.6%		$21.35		7		17	4.7%	486	4.5%		$28.59		11		40	2.9%	977	4.0%		$24.43
2035	6		33	3.2%	548	4.0%		$16.61		9		18	5.0%	512	4.8%		$28.44		15		51	3.7%	1,060	4.3%		$20.78
Thereafter	4		132	12.8%	1,156	8.4%		$8.76		8		8	2.2%	286	2.7%		$35.75		12		140	10.0%	1,442	5.9%		$10.30
Total	97		1,035	100.0%	$13,707	100.0%		$13.24		237		361	100.0%	$10,752	100.0%		$29.78		334		1,396	100.0%	$24,459	100.0%		$17.52
Signed Not Open	2		13		$173			$13.31		4		6		$171			$28.50		6		19		$344			$18.11
Vacant	8		118							61		111							69		229
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		9		20	5.5%	$415	3.9%		$20.75		9		20	1.4%	$415	1.7%		$20.75
2026	5		78	7.5%	1,711	12.5%		$21.94		14		17	4.7%	589	5.5%		$34.65		19		95	6.8%	2,300	9.4%		$24.21
2027	3		12	1.2%	129	0.9%		$10.75		19		28	7.8%	657	6.1%		$23.46		22		40	2.9%	786	3.2%		$19.65
2028	7		109	10.5%	1,680	12.3%		$15.41		34		45	12.5%	1,423	13.2%		$31.62		41		154	11.0%	3,103	12.7%		$20.15
2029	7		100	9.7%	1,768	12.9%		$17.68		30		45	12.5%	1,467	13.6%		$32.60		37		145	10.4%	3,235	13.2%		$22.31
2030	10		94	9.1%	592	4.3%		$6.30		33		61	16.9%	1,745	16.2%		$28.61		43		155	11.1%	2,337	9.6%		$15.08
2031	6		35	3.4%	198	1.4%		$5.66		15		15	4.2%	365	3.4%		$24.33		21		50	3.6%	563	2.3%		$11.26
2032	4		25	2.4%	365	2.7%		$14.60		13		14	3.9%	487	4.5%		$34.79		17		39	2.8%	852	3.5%		$21.85
2033	3		15	1.4%	177	1.3%		$11.80		11		16	4.4%	553	5.1%		$34.56		14		31	2.2%	730	3.0%		$23.55
2034	0		0	0.0%	0	0.0%		$0.00		11		17	4.7%	557	5.2%		$32.76		11		17	1.2%	557	2.3%		$32.76
2035	3		14	1.4%	221	1.6%		$15.79		9		12	3.3%	373	3.5%		$31.08		12		26	1.9%	594	2.4%		$22.85
Thereafter	49		553	53.4%	6,866	50.1%		$12.42		39		71	19.7%	2,121	19.7%		$29.87		88		624	44.7%	8,987	36.7%		$14.40
Total	97		1,035	100.0%	$13,707	100.0%		$13.24		237		361	100.0%	$10,752	100.0%		$29.78		334		1,396	100.0%	$24,459	100.0%		$17.52
Note: Includes ground leases. Excludes Company’s owned Beachwood OH headquarters office buildings.

9

SITE Centers Corp.

Top 20 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		Burlington	1	1	2	1,599	6.5%	1,983	70	4.5%	104
2		Cinemark	1	0	1	1,300	5.3%	1,300	76	4.9%	76
3		AMC Theatres	0	3	3	1,037	4.2%	5,183	46	2.9%	232
4		Nordstrom Rack	1	0	1	731	3.0%	731	37	2.4%	37
5		Gold's Gym	1	0	1	720	2.9%	720	30	1.9%	30
6		Kroger (Harris Teeter)	1	0	1	697	2.8%	697	45	2.9%	45
7		Dick's Sporting Goods (1)	0	5	5	618	2.5%	3,090	49	3.1%	244
8		Publix Supermarkets	1	1	2	572	2.3%	932	56	3.6%	100
9		Five Below	2	5	7	531	2.2%	1,217	30	1.9%	65
10		TJX Companies (2)	0	9	9	527	2.2%	2,637	45	2.9%	223
11		Gladstone's 4 Fish	1	0	1	465	1.9%	465	12	0.8%	12
12		Lowe's	0	2	2	452	1.8%	2,259	52	3.3%	261
13		Ross Stores	0	6	6	452	1.8%	2,258	36	2.3%	181
14		University of NC Health Care	1	0	1	422	1.7%	422	14	0.9%	14
15		Kohl's	0	3	3	418	1.7%	2,088	47	3.0%	237
16		Gap (3)	1	5	6	394	1.6%	1,516	25	1.6%	92
17		Best Buy	0	3	3	392	1.6%	1,962	28	1.8%	141
18		MTY Group (4)	2	1	3	386	1.6%	420	9	0.6%	10
19		Hyatt Hotel	1	0	1	355	1.5%	355	15	1.0%	15
20		Tailored Brands (Men's Wearhouse)	1	2	3	336	1.4%	528	8	0.5%	15
		Top 20 Total	15	46	61	$12,404	50.7%	$30,763	730	46.6%	2,134
		Total Portfolio				$24,459	100.0%	$62,933	1,567	100.0%	4,285
(1) Dick's Sporting Goods (3) / Going Going Gone (1) / Golf Galaxy (1)
(2) T.J. Maxx (1) / Marshalls (5) / HomeGoods (2) / Sierra Trading (1)
(3) Gap (1) / Old Navy (5)
(4) Cold Stone Creamery (2) / Famous Dave's (1)

10

SITE Centers Corp.

Transactions

$ and GLA in thousands
				SITE		Owned		Price
		Property Name	MSA	Own %		GLA		At 100%		At Share
Property Dispositions
02/27/26		FlatAcres MarketCenter	Denver-Aurora-Lakewood, CO	100%		136		$24,400		$24,400
03/03/26		3030 North Broadway	Chicago-Naperville-Elgin, IL-IN-WI	100%		132		50,100		50,100
			1Q 2026 Total			268		$74,500		$74,500
05/04/26		Meadowmont Crossing	Raleigh, NC	100%		92		$11,100		$11,100
			2Q 2026 QTD			92		$11,100		$11,100
			Total 2026 YTD			360		$85,600		$85,600
Sale of Partnership Interests
01/16/26		Deer Park Town Center(1)	Chicago-Naperville-Elgin, IL-IN-WI			358		N/A		$20,762
(1) In January 2026, the Company sold its partnership interests in RVIP IIIB to its existing joint venture partner.

11

SITE Centers Corp.

Unconsolidated Joint Ventures

$ and GLA in thousands
Joint Venture		SITE Own %		Number of Properties		Owned GLA		Leased Rate		ABR		1Q26 NOI at 100% (1)		Gross RE Assets		Debt Balance at 100% (2)
Chinese Institutional Investors    DTP		20%		10		3,397		93.7%		$15.29		$12,040		$611,958		$380,600
Property management fees												537	(1)
NOI from assets sold												327
Net operating income												$12,904	(3)
(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 13 in the Other Expense, net line item.
(2) Excludes unamortized loan costs, net of $10.4 million or $2.1 million at SITE's share.
(3) 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.

12

SITE Centers Corp.

Unconsolidated Joint Ventures

Combined SITE JV Pro Rata Adjustments (1)
Income Statement Pro Rata Adjustments 1Q26			Balance Sheet Pro Rata Adjustments 1Q26
Revenues:			Assets:
Rental income (2)	$3,585		Land	$29,794
Other income (3)	31		Buildings	83,682
	3,616		Improvements	8,912
Expenses:				122,388
Operating and maintenance	520		Depreciation	(24,056)
Real estate taxes	412			98,332
	932		Construction in progress and land	4
Net operating income	2,684		Real estate, net	98,336
			Investment in JVs	0
Other income (expense):			Cash and restricted cash	3,665
Fee income	(243)		Receivables, net	1,536
Interest expense	(1,481)		Other assets, net	1,771
Depreciation and amortization	(1,083)		Total Assets	105,308
Other income (expense), net	(13)
Loss before earnings from JVs	(136)		Liabilities and Equity:
Equity in net loss of JVs	152		Mortgage debt	74,038
Basis differences of JVs	(16)		Amounts payable to SITE	320
Gain on disposition of real estate	0		Other liabilities	5,157
Net loss	$0		Total Liabilities	79,515
			JVs share of equity	(1)
FFO Reconciliation 1Q26			Distributions in excess of net income	25,794
Loss before earnings from JVs	($136)		Total Equity	25,793
Depreciation and amortization	1,083		Total Liabilities and Equity	$105,308
Basis differences of JVs	0
FFO at SITE's ownership interests	$947
OFFO at SITE's ownership interests	$947
(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	$2,465
Ground lease minimum rents	138
Straight-line rent, net	12
Amortization of (above) below market rent, net	101
Percentage and overage rent	42
Recoveries	803
Uncollectible revenue	24
(3) Other Income:
Ancillary and other rental income	29
Lease termination fees	2

13

SITE Centers Corp.

Unconsolidated Joint Ventures at 100%

$ in thousands
Combined Income Statement
		1Q26		1Q25
Revenues:
Rental income (1)		$17,108		$19,902
Other income (2)		145		1,023
		17,253		20,925
Expenses:
Operating and maintenance		2,405		2,831
Real estate taxes		1,944		2,351
		4,349		5,182
Net operating income		12,904		15,743
Other income (expense):
Interest expense		(7,172)		(8,008)
Depreciation and amortization		(5,145)		(6,044)
Other expense, net		(1,228)		(1,388)
		(641)		303
Loss on disposition of real estate, net		0		(4)
Net income (loss) attributable to unconsolidated JVs		(641)		299
Depreciation and amortization		5,145		6,044
Loss on disposition of real estate, net		0		4
FFO		$4,504		$6,347
FFO at SITE's ownership interests		$947		$1,593
Operating FFO at SITE's ownership interests		$947		$1,593
(1) Rental Income:
Minimum rents		$11,736		$13,608
Ground lease minimum rents		688		700
Straight-line rent, net		54		85
Amortization of (above) below market rent, net		505		475
Percentage and overage rent		185		296
Recoveries		3,819		4,519
Uncollectible revenue		121		219
(2) Other Income:
Ancillary and other rental income		135		213
Lease termination fees		10		810
Combined Balance Sheet
		At Period End
		1Q26		4Q25
Assets:
Land		$148,969		$159,567
Buildings		418,409		497,973
Improvements		44,561		70,903
		611,939		728,443
Depreciation		(120,278)		(190,020)
		491,661		538,423
Construction in progress and land		19		15
Real estate, net		491,680		538,438
Cash and restricted cash		18,327		28,254
Receivables, net		7,681		10,497
Other assets, net		8,855		8,837
Total Assets		526,543		586,026
Liabilities and Equity:
Mortgage debt		370,190		429,196
Amounts payable to SITE		1,599		1,846
Other liabilities		25,785		31,577
Total Liabilities		397,574		462,619
Accumulated equity		128,969		123,407
Total Equity		128,969		123,407
Total Liabilities and Equity		$526,543		$586,026

14

SITE CENTERS
Property List as of March 31, 2026
#	Center	Location	ST	JV	Owned GLA	Population (000's)	Leased Rate	Average Household Income ($000's)	ABR PSF	Anchor Tenants
Wholly Owned
1	The Pike Outlets (1)	Long Beach	CA		389	344	91.2%	$69	$25.02	Cinemark, Gold's Gym, H & M, Nike, Restoration Hardware
2	Shoppes at Paradise Pointe	Fort Walton Beach	FL		73	60	82.5%	$65	$12.79	Publix
3	The Maxwell	Chicago	IL		240	979	57.0%	$98	$25.69	Burlington, Nordstrom Rack
4	Meadowmont Crossing (2)	Chapel Hill	NC		39	101	95.8%	$103	$29.84	—
5	Meadowmont Market	Chapel Hill	NC		49	101	91.7%	$101	$15.52	Harris Teeter
6	The Blocks	Portland	OR		97	373	67.3%	$95	$37.23	—
7	Headquarter Office Buildings	Beachwood	OH		339	120	N/A	$122	(3)	—
Joint Venture
1	Ahwatukee Foothills Towne Center	Phoenix	AZ	DTP	691	154	87.1%	$88	$20.14	AMC Theatres, Best Buy, Burlington, Golf Galaxy, HomeGoods, Lina Home Furnishings, Marshalls, Michaels, Ross Dress for Less, Sprouts Farmers Market
2	Connecticut Commons	Plainville	CT	DTP	561	162	97.9%	$76	$14.38	Aldi, AMC Theatres, Dick's Sporting Goods, DSW, Kohl's, Lowe's, Marshalls, PetSmart
3	Towne Center Prado	Marietta	GA	DTP	287	126	89.4%	$78	$12.41	Going Going Gone, Publix, Ross Dress for Less
4	Brookside Marketplace	Tinley Park	IL	DTP	317	177	98.9%	$89	$15.98	Best Buy, Dick's Sporting Goods, HomeGoods, Michaels, PetSmart, Ross Dress for Less, T.J. Maxx
5	Independence Commons	Independence	MO	DTP	386	130	93.7%	$70	$15.69	AMC Theatres, Best Buy, Bob's Discount Furniture, Kohl's, Marshalls, Ross Dress for Less
6	Poyner Place	Raleigh	NC	DTP	252	127	100.0%	$80	$17.70	Cost Plus World Market, Marshalls, Michaels, Ross Dress for Less, Urban Air Trampoline & Adventure Park
7	University Centre	Wilmington	NC	DTP	418	132	90.8%	$68	$12.13	Bob's Discount Furniture, Crunch Fitness, Lowe's, Old Navy, Ollie's Bargain Outlet, Ross Dress for Less
8	Route 22 Retail Center	Union	NJ	DTP	112	324	100.0%	$114	$15.06	Dick's Sporting Goods
9	Ashley Crossing	Charleston	SC	DTP	208	104	95.7%	$67	$11.83	Food Lion, Kohl's, Marshalls
10	Commonwealth Center	Midlothian	VA	DTP	166	78	96.4%	$95	$16.47	Michaels, Painted Tree Marketplace, The Fresh Market
Notes:
GLA in thousands. Anchors include tenants greater than 20K square feet
Population and Average Household Income are for trade area within a 10 minute drive time from center
ABR PSF includes ground leases
DTP - Dividend Trust Portfolio. SITE's ownership interest is 20% in the joint venture
(1) The Pike Outlets is subject to a ground leases with current annual rent payments of $1.8 million
(2) Meadowmont Crossing GLA, leased rate and ABR PSF exclude a 79K ground lease that is non-rent paying
(3) 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 $27.18. Q1 2026 annualized NOI is $1.8M

15

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.

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, 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. Property management services’ direct compensation is 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.

•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

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.

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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) gains and losses from disposition of real estate property and related investments, which are presented net of taxes, (ii) impairment charges on real estate property and related investments and (iii) 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 certain transaction fee income, transaction costs and 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.

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.

17

SITE Centers Corp.

Non-GAAP Measures

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.

18

SITE Centers Corp.

Portfolio Summary at 100%

		3/31/2026		12/31/2025		9/30/2025		6/30/2025		3/31/2025
Shopping Center Summary
Operating Centers – 100%		16		19		27		31		33
Wholly Owned - SITE		6		8		16		20		22
JV Portfolio		10		11		11		11		11
Owned and Ground Lease GLA – 100%		4,285		4,910		7,168		8,252		8,815
Wholly Owned - SITE		888		1,155		3,413		4,497		5,060
JV Portfolio – 100%		3,397		3,755		3,755		3,755		3,755
Unowned GLA – 100%		733		872		2,189		2,821		2,856
Quarterly Operational Overview
SITE (100%)
Base Rent PSF		$16.83		$18.66		$18.19		$18.51		$18.44
Base Rent PSF < 10K		$28.33		$30.81		$30.19		$30.42		$30.55
Base Rent PSF > 10K		$13.83		$14.82		$14.64		$14.86		$14.96
Commenced Rate		88.9%		88.8%		88.3%		88.5%		90.3%
Leased Rate		90.8%		90.4%		89.3%		89.5%		91.1%
Leased Rate < 10K SF		80.2%		83.2%		83.8%		86.0%		85.9%
Leased Rate > 10K SF		94.1%		93.0%		91.1%		90.6%		92.6%
Wholly Owned SITE
Base Rent PSF		$25.02		$25.99		$19.80		$20.01		$19.95
Leased Rate		80.2%		85.6%		87.0%		87.6%		89.4%
Leased Rate < 10K SF		73.3%		81.0%		85.2%		88.4%		88.2%
Leased Rate > 10K SF		83.9%		87.9%		87.5%		87.3%		89.8%
Joint Venture (100%)
Base Rent PSF		$15.29		$16.84		$16.90		$16.90		$16.67
Leased Rate		93.7%		91.9%		91.5%		91.7%		93.2%
Leased Rate < 10K SF		83.4%		84.1%		82.5%		83.1%		83.1%
Leased Rate > 10K SF		96.4%		94.5%		94.5%		94.5%		96.6%
Joint Venture at Pro Rata Share
Base Rent PSF		$15.29		$18.80		$18.96		$18.97		$18.72
Leased Rate		93.7%		91.0%		90.3%		90.7%		91.9%
Leased Rate < 10K SF		83.4%		83.2%		80.9%		82.4%		81.9%
Leased Rate > 10K SF		96.4%		94.2%		94.2%		94.2%		96.2%
Note: GLA in thousands. Base Rent PSF excludes ground leases. All results exclude the Company's owned Beachwood, OH headquarters office buildings.

19

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
1Q26	0	0	$0.00	0.0%	0.0		0	0	$0.00	0.0
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
	1	4,565	$32.00	0.5%	10.5		6	45,850	$20.27	10.1
Renewals
1Q26	0	0	$0.00	---%	0.0		0	0	$0.00	0.0
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
	19	300,124	$17.91	1.2%	6.7		19	300,124	$17.91	6.7
New + Renewals
1Q26	0	0	$0.00	---%	0.0		0	0	$0.00	0.0
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	10.0
	20	304,689	$18.12	1.2%	6.7		25	345,974	$18.22	7.1

Net Effective Rents
			Capex PSF				NER
	GLA	ABR PSF	TA	LL Work	LC	Total	PSF	Term
New Leases
1Q26	0	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	0.0
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
	45,850	$21.40	$2.07	$6.28	$1.05	$9.40	$12.00	10.1
Renewals
1Q26	0	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	0.0
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
	300,124	$18.48	$2.23	$0.00	$0.01	$2.24	$16.24	6.7
New + Renewals
1Q26	0	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	0.0
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
	345,974	$18.87	$2.20	$1.18	$0.20	$3.58	$15.29	7.1
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.

20

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
1Q26	1	46,535	$14.00	16.7%	10.5		1	46,535	$14.00	10.5
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
	2	62,898	$13.80	(18.7%)	11.7		7	161,493	$15.52	10.7
Renewals
1Q26	8	42,996	$23.44	1.9%	4.2		8	42,996	$23.44	4.2
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
	36	465,712	$14.74	6.0%	5.3		36	465,712	$14.74	5.3
New + Renewals
1Q26	9	89,531	$18.54	7.2%	7.5		9	89,531	$18.54	7.5
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
	38	528,610	$14.63	2.5%	6.0		43	627,205	$14.94	6.7

Net Effective Rents
			Capex PSF				NER
	GLA	ABR PSF	TA	LL Work	LC	Total	PSF	Term
New Leases
1Q26	46,535	$14.00	$2.86	$0.10	$0.57	$3.53	$10.47	10.5
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
	161,493	$17.23	$1.07	$0.05	$0.45	$1.57	$15.66	10.7
Renewals
1Q26	42,996	$23.79	$0.25	$0.00	$0.00	$0.25	$23.54	4.2
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
	465,712	$14.91	$0.02	$0.00	$0.00	$0.02	$14.89	5.3
New + Renewals
1Q26	89,531	$18.70	$2.16	$0.07	$0.42	$2.65	$16.05	7.5
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
	627,205	$15.50	$0.45	$0.02	$0.19	$0.66	$14.84	6.7
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.

21

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		6		18	7.3%	$381	4.9%		$21.17		6		18	2.3%	$381	2.6%		$21.17
2026	1		62	11.8%	1,503	21.4%		$24.24		6		15	6.0%	515	6.6%		$34.33		7		77	9.9%	2,018	13.6%		$26.21
2027	1		76	14.4%	1,300	18.5%		$17.11		9		26	10.5%	710	9.1%		$27.31		10		102	13.2%	2,010	13.5%		$19.71
2028	0		0	0.0%	0	0.0%		$0.00		13		34	13.7%	1,006	12.9%		$29.59		13		34	4.4%	1,006	6.8%		$29.59
2029	4		87	16.5%	1,618	23.0%		$18.60		11		38	15.3%	1,406	18.0%		$37.00		15		125	16.1%	3,024	20.4%		$24.19
2030	1		48	9.1%	0	0.0%		$0.00		13		51	20.6%	1,642	21.0%		$32.20		14		99	12.8%	1,642	11.1%		$16.59
2031	2		64	12.1%	482	6.9%		$7.53		3		12	4.8%	437	5.6%		$36.42		5		76	9.8%	919	6.2%		$12.09
2032	0		0	0.0%	0	0.0%		$0.00		2		9	3.6%	355	4.5%		$39.44		2		9	1.2%	355	2.4%		$39.44
2033	2		55	10.4%	846	12.0%		$15.38		2		10	4.0%	390	5.0%		$39.00		4		65	8.4%	1,236	8.3%		$19.02
2034	0		0	0.0%	0	0.0%		$0.00		4		16	6.5%	421	5.4%		$26.31		4		16	2.1%	421	2.8%		$26.31
2035	1		11	2.1%	211	3.0%		$19.18		3		14	5.6%	396	5.1%		$28.29		4		25	3.2%	607	4.1%		$24.28
Thereafter	3		124	23.5%	1,075	15.3%		$8.67		1		5	2.0%	146	1.9%		$29.20		4		129	16.6%	1,221	8.2%		$9.47
Total	15		527	100.0%	$7,035	100.0%		$13.35		73		248	100.0%	$7,805	100.0%		$31.47		88		775	100.0%	$14,840	100.0%		$19.15
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		6		18	7.3%	$381	4.9%		$21.17		6		18	2.3%	$381	2.6%		$21.17
2026	1		62	11.8%	1,503	21.4%		$24.24		5		13	5.2%	494	6.3%		$38.00		6		75	9.7%	1,997	13.5%		$26.63
2027	0		0	0.0%	0	0.0%		$0.00		6		19	7.7%	414	5.3%		$21.79		6		19	2.5%	414	2.8%		$21.79
2028	1		76	14.4%	1,300	18.5%		$17.11		12		33	13.3%	1,055	13.5%		$31.97		13		109	14.1%	2,355	15.9%		$21.61
2029	4		87	16.5%	1,618	23.0%		$18.60		9		29	11.7%	1,046	13.4%		$36.07		13		116	15.0%	2,664	18.0%		$22.97
2030	1		48	9.1%	0	0.0%		$0.00		12		48	19.4%	1,440	18.4%		$30.00		13		96	12.4%	1,440	9.7%		$15.00
2031	1		20	3.8%	0	0.0%		$0.00		2		5	2.0%	119	1.5%		$23.80		3		25	3.2%	119	0.8%		$4.76
2032	0		0	0.0%	0	0.0%		$0.00		3		7	2.8%	280	3.6%		$40.00		3		7	0.9%	280	1.9%		$40.00
2033	0		0	0.0%	0	0.0%		$0.00		3		10	4.0%	432	5.5%		$43.20		3		10	1.3%	432	2.9%		$43.20
2034	0		0	0.0%	0	0.0%		$0.00		4		12	4.8%	459	5.9%		$38.25		4		12	1.5%	459	3.1%		$38.25
2035	0		0	0.0%	0	0.0%		$0.00		2		7	2.8%	223	2.9%		$31.86		2		7	0.9%	223	1.5%		$31.86
Thereafter	7		234	44.4%	2,614	37.2%		$11.17		9		47	19.0%	1,462	18.7%		$31.11		16		281	36.3%	4,076	27.5%		$14.51
Total	15		527	100.0%	$7,035	100.0%		$13.35		73		248	100.0%	$7,805	100.0%		$31.47		88		775	100.0%	$14,840	100.0%		$19.15
Note: Includes ground leases. Excludes Company’s owned Beachwood OH headquarters office buildings.

22

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	1.4%	$169	1.1%		$21.13		3		8	0.3%	$169	0.4%		$21.13
2026	5		108	4.3%	1,367	4.1%		$12.66		13		30	5.3%	831	5.6%		$27.70		18		138	4.4%	2,198	4.6%		$15.93
2027	12		380	15.0%	5,033	15.1%		$13.24		16		63	11.2%	1,681	11.4%		$26.68		28		443	14.3%	6,714	14.0%		$15.16
2028	15		418	16.5%	5,066	15.2%		$12.12		29		82	14.5%	2,383	16.2%		$29.06		44		500	16.1%	7,449	15.5%		$14.90
2029	7		438	17.2%	4,776	14.3%		$10.90		25		101	17.9%	2,456	16.7%		$24.32		32		539	17.4%	7,232	15.0%		$13.42
2030	13		332	13.1%	4,738	14.2%		$14.27		29		94	16.7%	2,259	15.3%		$24.03		42		426	13.7%	6,997	14.5%		$16.42
2031	14		404	15.9%	5,758	17.3%		$14.25		14		63	11.2%	1,323	9.0%		$21.00		28		467	15.0%	7,081	14.7%		$15.16
2032	3		127	5.0%	1,101	3.3%		$8.67		11		42	7.4%	1,257	8.5%		$29.93		14		169	5.4%	2,358	4.9%		$13.95
2033	3		64	2.5%	977	2.9%		$15.27		8		33	5.9%	767	5.2%		$23.24		11		97	3.1%	1,744	3.6%		$17.98
2034	4		114	4.5%	2,455	7.4%		$21.54		3		10	1.8%	328	2.2%		$32.80		7		124	4.0%	2,783	5.8%		$22.44
2035	5		116	4.6%	1,687	5.1%		$14.54		6		19	3.4%	580	3.9%		$30.53		11		135	4.3%	2,267	4.7%		$16.79
Thereafter	1		40	1.6%	403	1.2%		$10.08		7		19	3.4%	698	4.7%		$36.74		8		59	1.9%	1,101	2.3%		$18.66
Total	82		2,541	100.0%	$33,361	100.0%		$13.13		164		564	100.0%	$14,732	100.0%		$26.12		246		3,105	100.0%	$48,093	100.0%		$15.49
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	1.4%	$169	1.1%		$21.13		3		8	0.3%	$169	0.4%		$21.13
2026	4		83	3.3%	1,042	3.1%		$12.55		9		18	3.2%	475	3.2%		$26.39		13		101	3.3%	1,517	3.2%		$15.02
2027	3		60	2.4%	644	1.9%		$10.73		13		46	8.2%	1,212	8.2%		$26.35		16		106	3.4%	1,856	3.9%		$17.51
2028	6		164	6.5%	1,898	5.7%		$11.57		22		61	10.8%	1,841	12.5%		$30.18		28		225	7.2%	3,739	7.8%		$16.62
2029	3		64	2.5%	752	2.3%		$11.75		21		81	14.4%	2,101	14.3%		$25.94		24		145	4.7%	2,853	5.9%		$19.68
2030	9		230	9.1%	2,962	8.9%		$12.88		21		68	12.1%	1,524	10.3%		$22.41		30		298	9.6%	4,486	9.3%		$15.05
2031	5		76	3.0%	990	3.0%		$13.03		13		56	9.9%	1,230	8.3%		$21.96		18		132	4.3%	2,220	4.6%		$16.82
2032	4		124	4.9%	1,826	5.5%		$14.73		10		31	5.5%	1,038	7.0%		$33.48		14		155	5.0%	2,864	6.0%		$18.48
2033	3		78	3.1%	883	2.6%		$11.32		8		29	5.1%	605	4.1%		$20.86		11		107	3.4%	1,488	3.1%		$13.91
2034	0		0	0.0%	0	0.0%		$0.00		7		22	3.9%	491	3.3%		$22.32		7		22	0.7%	491	1.0%		$22.32
2035	3		69	2.7%	1,107	3.3%		$16.04		7		25	4.4%	749	5.1%		$29.96		10		94	3.0%	1,856	3.9%		$19.74
Thereafter	42		1,593	62.7%	21,257	63.7%		$13.34		30		119	21.1%	3,297	22.4%		$27.71		72		1,712	55.1%	24,554	51.1%		$14.34
Total	82		2,541	100.0%	$33,361	100.0%		$13.13		164		564	100.0%	$14,732	100.0%		$26.12		246		3,105	100.0%	$48,093	100.0%		$15.49
Note: Includes ground leases

23

SITE CENTERS INVESTOR RELATIONS DEPARTMENT 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 financially in Q1 2026?

SITE Centers generated net income of $0.9 million, or $0.02 per diluted share, in Q1 2026, down from $3.1 million, or $0.06 per share, a year earlier. The decline mainly reflects impairment charges and lower Net Operating Income after property sales, partly offset by disposition gains.

What happened to SITE Centers’ Operating FFO in the first quarter of 2026?

Operating FFO for Q1 2026 was a loss of $1.9 million, or $0.04 per diluted share, compared with income of $8.3 million, or $0.16 per share, in Q1 2025. Lower Net Operating Income from asset dispositions outweighed benefits from reduced interest expense and higher interest income.

How much property sale activity did SITE Centers (SITC) complete in 2026 year-to-date?

Year‑to‑date 2026, SITE Centers sold three wholly owned properties for an aggregate $85.6 million and disposed of its partnership interests in the Deer Park Town Center joint venture for approximately $20.8 million. These transactions significantly reduced the owned portfolio while adding cash proceeds.

What were SITE Centers’ occupancy and leasing metrics at March 31, 2026?

On a pro rata basis, SITE Centers reported a leased rate of 85.9% and commenced rate of 84.7% at March 31, 2026, down from 89.8% and 89.4% a year earlier. During Q1 2026 the company executed one new lease and eight renewals totaling 17,906 square feet.

How strong is SITE Centers Corp.’s liquidity position after Q1 2026?

As of March 31, 2026, SITE Centers held $193.5 million of unrestricted cash, plus restricted cash of $4.6 million. Against this, unconsolidated mortgage debt at the company’s share was $76.1 million, supporting flexibility as it evaluates options for remaining joint venture investments.

What impact did impairments and gains have on SITE Centers’ Q1 2026 results?

In Q1 2026, SITE Centers recorded $17.45 million of impairment charges, which pressured earnings. These were largely offset by a $19.99 million gain on sale of joint venture interests and a $4.0 million gain on disposition of real estate, making results heavily influenced by non‑recurring items.

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