Slide 1: Regency Centers Business Update
Regency Centers Business Update November 5, 2020 Pablo Plaza | Jacksonville, FL
Slide 2: Safe Harbor and Non-GAAP Disclosures
Safe Harbor and Non-GAAP Disclosures Forward-Looking Statements Risk Factors Related to Funding Strategies and Capital Structure Certain statements in this document regarding anticipated financial, business, legal or other outcomes including Our ability to sell properties and fund acquisitions and d
Slide 3: Regency's Unequaled Strategic Advantages
Regency’s Unequaled Strategic Advantages High Quality Open-Air Shopping Center Portfolio n 80% grocery-anchored neighborhood & community centers n ecessity, service, convenience, and value retailers serving the N essential needs of our communities n Well located in highly affluent and dense infill t
Slide 4: Tenant Operating Status
Tenant Operating Status As of October 31, 2020 Tenants Open by Category Status of Tenant Operations (1) % of Pro-Rata ABR . % of Pro-Rata ABR (2) 3% ESSENTIAL - RETAIL & SERVICES ESSENTIAL - RESTAURANTS OTHER - RETAIL & SERVICES (99% OPEN) (98% OPEN) (93% OPEN) Closed Grocery/Drugstore 100% Home Imp
Slide 5: Q3 Base Rent Collections
Q3 Base Rent Collections As of October 31, 2020 Q3 Base Rent Collections Q3 Base Rent Collections by Category % of Pro-Rata ABR . % of Pro-Rata ABR . ESSENTIAL - RETAIL & SERVICES ESSENTIAL - RESTAURANTS OTHER - RETAIL & SERVICES (98% COLLECTED) (79% COLLECTED) (76% COLLECTED) Grocery/Drugstore 100%
Slide 6: October Base Rent Collections
October Base Rent Collections As of October 31, 2020 October Base Rent Collections October Base Rent Collections by Category % of Pro-Rata ABR . % of Pro-Rata ABR . ESSENTIAL - RETAIL & SERVICES ESSENTIAL - RESTAURANTS OTHER - RETAIL & SERVICES (98% COLLECTED) (79% COLLECTED) (79% COLLECTED) Grocery
Slide 7: Base Rent Collection Trajectory
Base Rent Collection Trajectory As of October 31, 2020 Base Rent Collected % of Tenant Category % Open Q2 Q3 October ABR (1) ESSENTIAL - RETAIL & SERVICES 45% 99% 98% 98% 98% Grocery/Drugstore 23% 100% 100% 100% 99% Banks 5% 99% 99% 100% 99% Base Rent Business Services Pet 5% 3% 98% 100% 84% 94% 84%
Slide 8: Executed Deferral Agreements
Executed Deferral Agreements As of October 31, 2020 Deferred Rent – Period Billed Deferred Rent – Payment Timing ($30.6M) ($30.6M) Total 2021 78% 3Q'2021 3Q'2020 4Q'2020 16% 4Q'2021 21% 3% 2Q'2021 13% 2022+ 2Q'2020 22% 5% 75% 2021 1% 2020 1Q'2021 17% 27% Total Executed Deferral Agreements (through O
Slide 9: National/Regional vs. Local Tenant Collection Status
National/Regional vs. Local Tenant Collection Status As of October 31, 2020 Total Portfolio Composition (1) % of Pro-Rata ABR as of 9/30/2020 Q2 Q3 OCTOBER 100% Local 12% 8% 9% Tenants 2% 1% 20% 21% 23% 22% 80% 10% 9% 3% 1% National & Regional Tenants 78% 60% 78% 71% 90% 76% 90% 76% 40% Composition
Slide 10: Anchor vs. Shop Tenant Collection Status
Anchor vs. Shop Tenant Collection Status As of October 31, 2020 Total Portfolio Composition (1) % of Pro-Rata ABR as of 9/30/2020 Q2 Q3 OCTOBER 100% 6% 10% 7% Shop Anchor 17% 3% 15% 16% Tenants Tenants 9% 2% 1% 55% 45% 80% 10% 60% 81% 73% 91% 83% 93% 83% 40% Composition of Deferred Rent ($30.6M) 20%
Slide 11: Regional Collection Status
Regional Collection Status As of October 31, 2020 Total Portfolio Composition Q3 Base Rent Collections % of Pro-Rata ABR as of 9/30/2020 100% 9% 7% 6% 16% 3% 3% Central 4% 3% 16% 80% Pacific Coast 60% Northeast/ 33% 81% 87% 90% 91% Mid-Atlantic 40% 21% 20% Southeast 30% 0% Pacific Coast Northeast/ M
Slide 12: Investments Update
Investments Update Managable Commitments Regency continues to evaluate the impacts to project scope, costs, tenancy, timing and return on investment on all in-process and pipeline projects to determine the most appropriate strategy. The Abbot The Village at Hunter’s Lake Carytown Exchange Boston, MA
Slide 13: Balance Sheet Strength
Balance Sheet Strength Low Leverage Provides Flexibility Regency maintains a long-standing commitment to balance sheet strength and stands today with immediate liquidity of $1.5 billion. Total Pro-Rata Share Leverage Ratios 9/30/20 (1) Net debt-to-Operating EBITDAre 5.9x Fixed charge coverage 3.7x I
Slide 14: Balance Sheet Strength: Well-Laddered Maturity Schedule
Balance Sheet Strength A Well-Laddered Maturity Schedule with Limited Near-Term Maturities Debt Maturity Profile as of September 30, 2020 (Cash Balance: $281M) $900 $800 $672 $700 $594 $600 $449 $425 IN MILLIONS $500 $373 $372 $334 $320 $336 $400 $300 $300 $193 $135 $200 $31 $100 $30 $0 2020 2021 20
Slide 15: Ample Liquidity
Ample Liquidity Available Sources of Capital and Near-Term Commitments Total Liquidity $1600 $1.5B $1200 Net Liquidity Undrawn $800M Revolver IN MILLIONS $1.2B $800 $102M In-Process Re/Dev Committed Capital $400 $373M 2022 Debt Maturities Cash On Hand $223M $281M 2020/2021 Debt Maturities $0 REGENCY
Slide 16: Regency's Approach to Corporate Responsibility
Regency’s Approach to Corporate Responsibility n Top ISS Social Quality Score of 1 n 85%+ employee engagement n Diversity, Equity and Inclusion program n Provide competitive benefits with health and rate Responsibility Practices ENVIRONMENTAL STEWARDSHIP wellness tools olders While Executing Our Str