Slide 1: Brixmor Property Group Investor Presentation
Brixmor Property Group Investor Presentation Quarter Ended March 31, 2025 BRX LISTED NYSE
Slide 2: Overview: High Quality, Diversified, Open-Air Retail Portfolio
Overview: High Quality, Diversified, Open-Air Retail Portfolio • One of the largest open-air retail landlords in the US with 361 shopping centers Annual Dividend Growth $1.15 $1.09 • As the value-add leader in the open-air retail space, we strive to create and own $1.04 $0.96 properties that are the
Slide 3: Overview: Diversified Portfolio
Overview: Diversified Portfolio Portfolio Quick Facts Leading Landlord To Vibrant Retailers Number of shopping centers 361 % of % of Credit Ratings Top Retailers by ABR Stores ABR GLA (S&P / Moody’s) Gross leasable Area (“GLA”) 64M SF 89 3.3% 4.0% A / A2 Average shopping center size 176K SF 45 2.3%
Slide 4: Value-Add Leader in the Open-Air Retail Space
Value-Add Leader in the Open-Air Retail Space Transformed portfolio Value creation Highly visible driving through accretive forward growth outperformance reinvestment Delivering sustainable Prudent capital Strong, flexible growth in a recycling balance sheet responsible manner Page 4
Slide 5: Transformed Portfolio Driving Outperformance
Transformed Portfolio Driving Outperformance
Slide 6: Transformed Portfolio Driving Outperformance: 1Q25 Highlights
Transformed Portfolio Driving Outperformance: 1Q25 Highlights 94.1% $17.94 $22.75 48% Total leased In-place New lease New lease occupancy ABR PSF ABR PSF spread Record high 90.8% $28.39 81% $60M Small shop leased Small shop in-place ABR derived from Signed but not yet occupancy ABR PSF grocery-ancho
Slide 7: Transformed Portfolio Driving Outperformance: Substantial Enhancement
Transformed Portfolio Driving Outperformance: Substantial Enhancement Our focused plan has driven a 41% increase in in-place ABR PSF At 12/31/2015 At 3/31/2025 Change Capturing Market Share of Growing Retailers Properties 518 361 (157) GLA (SF) 87M 64M (26%) Number of CBSAs 173 104 (69) Percent leas
Slide 8: Highly Visible Forward Growth
Highly Visible Forward Growth
Slide 9: Highly Visible Forward Growth: Embedded Tailwinds
Highly Visible Forward Growth: Embedded Tailwinds Tailwinds From Executed Leasing • Commenced $65M of ABR in TTM • $60M of ABR from 2.9M SF of signed but not yet commenced leases (SNC), at a blended rate of $20.62 PSF, 15% above portfolio average 1 Expected Timing of Leases SNC ($M) 1 Leases SNC As
Slide 10: Highly Visible Forward Growth: Continued Momentum
Highly Visible Forward Growth: Continued Momentum Mark-To-Market Opportunity Occupancy Opportunity • Attractive rent basis due to historic portfolio under-investment • Positioned for continued small shop occupancy growth – TTM new lease spreads of 40%, renewal spreads of 16%, and total – 30bps y/y i
Slide 11: Highly Visible Forward Growth: Low Risk Path Of Opportunity
Highly Visible Forward Growth: Low Risk Path Of Opportunity Long-Term Same Property NOI Growth Target* 2025E Same Property NOI Growth 1 ~150bps ~125 – 150bps Contractual Rent Growth Mark-to-Market 4.0% Reflects in-place annual Reflects new, renewal, and contractual rent growth option lease spreads +
Slide 12: Highly Visible Forward Growth: Proactively Re-Leasing At Risk Tenant Space
Highly Visible Forward Growth: Proactively Re-Leasing At Risk Tenant Space • In the current supply constrained environment, retailer disruption creates a significant opportunity • Achieving outsized re-leasing spreads • Brixmor’s portfolio transformation, national tenant partnerships and proven abil
Slide 13: Value Creation Through Accretive Reinvestment
Value Creation Through Accretive Reinvestment
Slide 14: Value Creation Through Accretive Reinvestment: Continued Transformation
Value Creation Through Accretive Reinvestment: Continued Transformation • Brixmor’s reinvestment opportunity stands apart in terms of magnitude and velocity Number of Net Estimated Incremental NOI Projects Costs 1 Yield 2 and is primarily funded with free cash flow Stabilizations 300 $1.3B 10% YE 20
Slide 15: Westridge Court / Block 59 – Chicago, IL
Value Creation Through Accretive Reinvestment: Westridge Court / Block 59 – Chicago, IL • Redevelopment commenced in June 2024 and is expected to stabilize in Westridge Court / Block 59 Site Plan September 2026 • The project will transform the highly visible corner of the property into a Project Det
Slide 16: Middletown Plaza – Middletown, NJ
Value Creation Through Accretive Reinvestment: Middletown Plaza – Middletown, NJ • Redevelopment commenced June 2023 and stabilized December 2024 – Redeveloped a former Walgreens and Party Fair into Trader Joe’s and additional retailers, and shopping center upgrades • Since Trader Joe’s opened in Ap
Slide 17: Projects Stabilized
Value Creation Through Accretive Reinvestment: 300 Projects Stabilized Florence Plaza-Square Middletown Plaza Beneva Village Shoppes Roosevelt Mall Capitol Shopping Center Dalewood SC Cincinnati, OH New York, NY North Port, FL Philadelphia, PA Concord, NH Westchester, NY Laurel Square Lompoc Center
Slide 18: Prudent Capital Recycling
Prudent Capital Recycling
Slide 19: Prudent Capital Recycling: Rationalized Footprint
Prudent Capital Recycling: Rationalized Footprint Acquisition Strategy Clustering Strategy • $1.3B of attractive acquisitions completed since year-end 2015 Builds critical mass and further densifies the portfolio in attractive markets • Focusing on value-add transactions that leverage our platform
Slide 20: Prudent Capital Recycling: Clustering Assets With Value-Add Acquisitions
Prudent Capital Recycling: Clustering Assets With Value-Add Acquisitions Ravinia Plaza North Riverside Plaza Elmhurst Crossing Huron Village West Center Plymouth Square Acton Plaza Chicago, IL Chicago, IL Chicago, IL Ann Arbor, MI New York, NY Philadelphia, PA Boston, MA Brea Gateway Centennial Cent
Slide 21: Strong, Flexible Balance Sheet
Strong, Flexible Balance Sheet
Slide 22: Strong, Flexible Balance Sheet: Positioned To Fuel Growth
Strong, Flexible Balance Sheet: Positioned To Fuel Growth $1.4B 4.2% 4.8 years 100% 100% Available liquidity Weighted average Weighted average maturity Fixed rate debt Unencumbered ABR stated interest rate 5.5x 4.2x BBB / Stable Baa2 / Stable BBB / Stable Net principal debt to adjusted Fixed charge
Slide 23: Delivering Sustainable Growth In A Responsible Manner
Delivering Sustainable Growth In A Responsible Manner
Slide 24: Delivering Sustainable Growth In A Responsible Manner
Delivering Sustainable Growth In A Responsible Manner Experienced and effective Board of Directors Corporate Responsibility Recognition Received overall score of 73 (October 2024) 8/9 3/9 2/9 Green Star Recipient (October 2024) Independent directors Female directors Members of an “A” rating fo
Slide 25: Delivering Sustainable Growth in a Responsible Manner: Environmental
Delivering Sustainable Growth in a Responsible Manner: Environmental Reducing utility-related operational expenses and adding ancillary income, Sustainability Goals while improving resource efficiency and resiliency Target Status 1 • Energy usage reduction projects • Water conservation projects Inst
Slide 26: Delivering Sustainable Growth in a Responsible Manner: Community Connectivity
Delivering Sustainable Growth in a Responsible Manner: Community Connectivity • Thoughtfully merchandising our properties with non-discretionary and value-oriented retailers, as well as Center-Specific Art consumer-oriented service providers We offer exterior wall space at select centers as canvases
Slide 27: Footnotes & Sources
Footnotes & Sources Page 2 Overview: High Quality, Diversified, Open-Air Retail Portfolio Page 11 Highly Visible Forward Growth: Low Risk Path Of Opportunity 1. Based on most recent tenant reported information. 1. Peer average includes IVT, KIM, KRG, PECO, and REG (excluding termination fees). Page