Slide 1: Earnings Presentation 4th Quarter 2025
Our Space is Your Place EARNINGS PRESENTATION 4th Quarter 2025 Anastasia Plaza RegencyCenters.com St. Augustine, 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 business and market conditions, Our ability to sell proper
Slide 3: Unequaled Combination of Strategic Advantages
Unequaled Combination of Strategic Advantages High Quality Grocery- Best-In-Class Differentiated Balance Sheet Anchored Shopping Operating Development Strength and Center Portfolio Platform Platform Ample Liquidity Located in suburban trade 25+ offices throughout the >$825M of project starts Low lev
Slide 4: Mission, Vision & Values
Mission, Vision & Values MISSION VISION Regency Centers creates thriving environments for To elevate quality of life as an integral thread in retailers and service providers to connect with the fabric of our communities. surrounding neighborhoods and communities. CORE VALUES We are our We do what We
Slide 5: 2026 Earnings Guidance Summary
2026 Earnings Guidance Summary Note: Figures above represent 100% of Regency's consolidated entities and its pro-rata share of unconsolidated real estate partnerships, with the exception of items that are net of noncontrolling interests including per share data, "Development and Redevelopment spend,
Slide 6: Nareit FFO Reconciliation: 2025 Reported → 2026 Guidance
Nareit FFO Reconciliation: 2025 Reported → 2026 Guidance Projected 2026 growth in Nareit FFO and COE per share at the midpoint of guidance is primarily driven by: SP NOI Growth: +3.25% to +3.75%, including uncollectible lease income of <50bps as a % of revenues External Growth: Substantial contribut
Slide 7: SNO Commencement Timing & Composition
SNO Commencement Timing & Composition Our signed-not-occupied (SNO) pipeline represents ~$45M of base rent within our Retail Operating Properties* Anchors 100% 30% 100% Of the $45M of base rent represented 94% by leases signed within our current $45M 80% 80% ABR SNO pipeline (as of 12/31/25): 87% is
Slide 8: Components of Same Property NOI Growth
Components of Same Property NOI Growth Total rent growth is the largest contributor to sustainable SP NOI growth over the long term ◄ RENT GROWTH ► +200-250bps contribution to SP NOI Growth Contractual Rent Steps Cash Releasing Spreads In-place tenant rent steps of ~2% on 1% spread = 10-15bps of SP
Slide 9: Growth & Durability from Essential Retail
HIGH QUALITY, WELL LOCATED PORTFOLIO Growth & Durability from Essential Retail Other 11% Grocery 20% Pharmacy 2% Home 3% Grocery remains Regency’s top category Pet 3% Hobby/Sports 3% Restaurants (quick-service & full-service) have remained in the 17-20% range over time Business Services 4% Medical &
Slide 10: 4Q25 Ground-Up Development Starts
4Q25 Ground-Up Development Starts Regency started $318M of redevelopment and development projects in 2025, including over $90M of ground-up development starts in Q4 Ground-Up Development Starts Oak Valley Village | Beaumont, CA Lone Tree Village | Denver, CO Culver Commons | Los Angeles, CA Anchored
Slide 11: 4Q25 Project Completions
4Q25 Project Completions In the fourth quarter, Regency completed 13 projects for $164M, including over $90M of ground-up developments Developments Ground-up The Shops at Stone Bridge | TPC: $67M Jordan Ranch Market | TPC: $23M Redevelopments Major Avenida Biscayne | TPC: $21M Anastasia Plaza | TPC:
Slide 12: Balance Sheet Strength - Regency’s Philosophy
Balance Sheet Strength - Regency’s Philosophy We intentionally prioritize conservative leverage levels and a laddered debt maturity schedule Capital Structure A low-leveraged balance sheet maximizes free cash flow, provides stability and flexibility through (% of total capitalization) cycles, and su
Slide 13: Embodied Corporate Responsibility
Embodied Corporate Responsibility Corporate responsibility is strategic to the long-term sustainability and success of our business, and our shareholders Regency’s Four Pillars of Corporate Responsibility People & Our Ethics & Environmental Culture Communities Governance Stewardship Regency’s best-i
Slide 14: Glossary of Terms
Glossary of Terms Adjusted Funds From Operations (AFFO): An additional performance measure used by Regency that reflects cash available to fund the Company’s business needs and distribution to shareholders. AFFO is calculated by adjusting Core Operating Earnings for (i) capital expenditures necessar
Slide 15: Glossary of Terms
Glossary of Terms Other lease income: includes revenue derived from various lease-related activities beyond standard base or percentage rent. This primarily includes income from temporary tenants, late fees, signage and marketing fees, sustainability income, land/building rentals, communications tow