Cto Realty Growth, Inc. · NYSE:CTO

Cto Realty Growth — Investor Presentation (July 2021)

33 slides from Cto Realty Growth's investor presentation, Jul 29, 2021

1. Slide 1: Investor Presentation July 2021

   Investor Presentation July 2021 REALTY GROWTH NYSE: CTO

2. Slide 2: Company Profile

   © CTO Realty Growth, Inc. | ctoreit.com Company Profile 2 As of July 23, 2021 or as otherwise noted; any differences a result of rounding. (1) Based on monthly Contractual Base Rent (“CBR”), which represents the amount owed to the Company under the terms of its lease agreements in each respective mo

3. Slide 3: Key Takeaways

   © CTO Realty Growth, Inc. | ctoreit.com Key Takeaways 3 Significant Discount to the Peer Group Meaningful potential upside in valuation as CTO has the lowest 2021E FFO multiple of its retail and diversified peer group. Earnings Growth Through Capital Recycling Strong, long-term track record of monet

4. Slide 4: Year-to-Date 2021 Highlights

   © CTO Realty Growth, Inc. | ctoreit.com Year-to-Date 2021 Highlights 4 Accretive Investment Activity ▪ Under contract to sell the remaining land in the Daytona Beach Land Joint Venture for $67.0 million; total net proceeds to CTO expected to be $25.6 million before taxes ▪ Acquired 3 properties for

5. Slide 5: Experienced Management Team

   © CTO Realty Growth, Inc. | ctoreit.com Experienced Management Team CTO Realty Growth is led by an experienced management team with meaningful shareholder alignment, deep industry relationships and a strong long-term track record. 5 John P. Albright President & Chief Executive Officer ▪ Former Co-He

6. Slide 6: Diversified Investment Strategy

   © CTO Realty Growth, Inc. | ctoreit.com Diversified Investment Strategy 6 CTO is a diversified real estate investment strategy focused on owning, operating and investing in retail-based real estate, directly and through investment management structures Multi-Tenant Asset Strategy ▪ Focused on retail

7. Slide 7: Real Estate Strategy

   © CTO Realty Growth, Inc. | ctoreit.com Real Estate Strategy CTO’s investment strategy is focused on generating relative outsized returns for our shareholders through a combination of accretive acquisitions and dispositions, asset-level value creation, acquiring at meaningful discounts to replacemen

8. Slide 8: Portfolio At A Glance

   © CTO Realty Growth, Inc. | ctoreit.com 53% 30% 15% 2% Retail Office Mixed Use Hotel Portfolio At A Glance 8 38% 62% Single-Tenant Multi-Tenant As of 6/30/2021. Percentages listed based on in-place cash rent as of June 30, 2021. (1) Source: Sites USA; Portfolio average weighted by the leasable squar

9. Slide 9: Repositioning – Ashford Lane, Atlanta, GA

   © CTO Realty Growth, Inc. | ctoreit.com Repositioning – Ashford Lane, Atlanta, GA 9 Acquired as Perimeter Place in 2020, with an opportunity to up-tier through targeted lease-up, an improved tenant mix and market repositioning ▪ High barrier-to-entry location with new residential projects, increasin

10. Slide 10: Ashford Lane, Atlanta, GA (Repositioning)

    © CTO Realty Growth, Inc. | ctoreit.com Ashford Lane, Atlanta, GA (Repositioning) 10 Ashford Lane will incorporate outdoor seating and eating areas, along with a number of new green spaces, including The Lawn, that will drive a more community-focused experience Ashford Lane is being repositioned as

11. Slide 11: Crabby’s Oceanside Expansion, Daytona Beach, FL

    © CTO Realty Growth, Inc. | ctoreit.com Crabby’s Oceanside Expansion, Daytona Beach, FL 11 ▪ Organic growth opportunity to expand existing footprint to create a “Tiki Bar” that better engages with the beach ▪ CTO to receive up to a double-digit yield on cost through base rent, with upside through pe

12. Slide 12: Land Joint Venture

    © CTO Realty Growth, Inc. | ctoreit.com Land Joint Venture 12 Land Joint Venture Summary of Terms ▪ Contract value of remaining land held in the joint venture is $67 million ▪ CTO receives 90% of all proceeds once the JV Partner capital account is $0 and the preferred return is achieved ▪ Expected p

13. Slide 13: Peer Comparisons

    © CTO Realty Growth, Inc. | ctoreit.com Peer Comparisons 13 24.8x 21.8x 18.4x 16.5x 16.5x 15.6x 15.3x 13.9x 13.2x 3.6% 3.0% 3.1% 3.3% 5.6% 4.8% 2.3% 7.5% 4.8% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00% 10.0x 11.0x 12.0x 13.0x 14.0x 15.0x 16.0x 17.0x 18.0x 19.0x 20.0x 21.0x 22

14. Slide 14: Balance Sheet

    © CTO Realty Growth, Inc. | ctoreit.com Balance Sheet 14 $100.0 $100.0 $61.7 $50.0 $8.0 $8.0 $15.0 $102.0 $102.0 2021 2022 2023 2024 2025 2026 2027 Fixed Floating Total Commitments Component of Long-Term Debt Principal Interest Rate Maturity Date Revolving Credit Facility (Fixed)(2) $100.0 million 0

15. Slide 15: 2021 Guidance

    © CTO Realty Growth, Inc. | ctoreit.com 2021 Guidance 15 $ and shares outstanding in millions, except per share data. Full-Year 2021 Guidance was provided in the Company’s Second Quarter 2021 Operating Results press release filed on July 29, 2021. Full- Year 2021 Low High Acquisition of Income Produ

16. Slide 16: Appendix

    REALTY GROWTH NYSE: CTO Appendix

17. Slide 17: Schedule of Properties

    © CTO Realty Growth, Inc. | ctoreit.com Schedule of Properties 17 Property Market Asset Type Property Type Square Feet Occupancy % of ABR The Shops at Legacy – Plano, TX Dallas, TX Multi-Tenant Mixed Use 236,432 83% 14% Ashford Lane – Atlanta, GA Atlanta, GA Multi-Tenant Retail 269,682 69% 11% The S

18. Slide 18: Schedule of Properties

    © CTO Realty Growth, Inc. | ctoreit.com Schedule of Properties 18 Property Market Asset Type Property Type Square Feet Occupancy % of ABR Westland Gateway Plaza – Hialeah, FL Miami, FL Single Tenant Retail 108,029 100% 4% General Dynamics – Reston, VA Washington, DC Single Tenant Office 64,319 100%

19. Slide 19: The Shops at Legacy, Dallas, TX

    © CTO Realty Growth, Inc. | ctoreit.com The Shops at Legacy, Dallas, TX 19

20. Slide 20: Ashford Lane, Atlanta, GA

    © CTO Realty Growth, Inc. | ctoreit.com Ashford Lane, Atlanta, GA 20

21. Slide 21: Crossroads Town Center, Chandler, AZ

    © CTO Realty Growth, Inc. | ctoreit.com Crossroads Town Center, Chandler, AZ 21

22. Slide 22: The Strand, Jacksonville, FL

    © CTO Realty Growth, Inc. | ctoreit.com The Strand, Jacksonville, FL 22

23. Slide 23: Fidelity Office Complex, Albuquerque, NM

    © CTO Realty Growth, Inc. | ctoreit.com Fidelity Office Complex, Albuquerque, NM 23

24. Slide 24: Wells Fargo Office Complex, Raleigh, NC

    © CTO Realty Growth, Inc. | ctoreit.com Wells Fargo Office Complex, Raleigh, NC 24

25. Slide 25: Riverside Office Building, Jacksonville, FL

    © CTO Realty Growth, Inc. | ctoreit.com 245 Riverside Office Building, Jacksonville, FL 25

26. Slide 26: The Carpenter Hotel, Austin, TX (Ground Lease)

    © CTO Realty Growth, Inc. | ctoreit.com The Carpenter Hotel, Austin, TX (Ground Lease) 26

27. Slide 27: Sabal Pavilion (Ford Motor Credit), Tampa, FL

    © CTO Realty Growth, Inc. | ctoreit.com Sabal Pavilion (Ford Motor Credit), Tampa, FL 27

28. Slide 28: Jordan Landing, West Jordan, UT

    © CTO Realty Growth, Inc. | ctoreit.com Jordan Landing, West Jordan, UT 28

29. Slide 29: Eastern Commons, Henderson, NV

    © CTO Realty Growth, Inc. | ctoreit.com Eastern Commons, Henderson, NV 29

30. Slide 30: Forward Looking Statements

    © CTO Realty Growth, Inc. | ctoreit.com Forward Looking Statements 30 Certain statements contained in this presentation (other than statements of historical fact) are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securit

31. Slide 31: Non-GAAP Financial Measures Reconciliation

    © CTO Realty Growth, Inc. | ctoreit.com Non-GAAP Financial Measures Reconciliation 31 Three Months Ended Six Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Revenues Income Properties $ 11,574 $ 11,473 $ 23,023 $ 22,476 Management Fee Income 752 695 1,421 1,397 Interest Income f

32. Slide 32: Non-GAAP Financial Measures Reconciliation

    © CTO Realty Growth, Inc. | ctoreit.com Non-GAAP Financial Measures Reconciliation 32 Three Months Ended Six Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Net Income (Loss) $ (3,724) $ 12,611 $ 4,061 $ 349 Depreciation and Amortization 5,031 5,021 9,861 9,573 Gains on Disposit

33. Slide 33: Crabby’s Oceanside & Landshark Bar & Grill, Daytona Beach, FL

    REALTY GROWTH NYSE: CTO CRABBY’S OCEANSIDE & LANDSHARK BAR & GRILL, DAYTONA BEACH, FL

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