Regency Centers Corporation · NASDAQ:REG
Regency Centers — Q1 2026 Earnings Presentation
17 slides from Regency Centers's earnings presentation, Apr 30, 2026
Slide 1: Earnings Presentation 1st Quarter 2026
Our Space is Your Place EARNINGS PRESENTATION 1st Quarter 2026 RegencyCenters.com Oakley Shops at Laurel Fields Oakley, CA
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: 2026 Guidance: Nareit FFO Reconciliation
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: Runway For Occupancy Upside
Runway For Occupancy Upside We believe we have further upside opportunity in commenced occupancy, with the potential to exceed our prior peak of 94.5% The current spread between our same property leased and commenced occupancy rates is 230bps, representing ~$42M of incremental pro-rata ABR 7 EARNING
Slide 8: SNO Commencement Timing & Composition
SNO Commencement Timing & Composition Our signed-not-occupied (SNO) pipeline represents ~$42M of base rent within our Retail Operating Properties* Anchors 100% 29% 100% 96% Of the $42M of base rent represented 87% by leases signed within our current $42M 80% ABR SNO pipeline (as of 3/31/2026): 60% 9
Slide 9: 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 10: 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 11: Development & Redevelopment Starts & Pipeline
Development & Redevelopment Starts & Pipeline Regency started more than $800M of projects over the last 3 years (2023 - 2025) As of Q1 2026, the in-process development and redevelopment project pipeline totaled approximately $635M of total project costs at ~9% estimated stabilized yields ⁽¹⁾ Develop
Slide 12: 1Q26 Start: Crystal Brook Corner
1Q26 Start: Crystal Brook Corner In 1Q26, Regency acquired Crystal Brook Corner in Mt. Sinai, NY and has started the $59M redevelopment of the center with estimated completion in 2027 $59M TPC @ 7%+ Yield 125K SF center anchored by Whole Foods 12 EARNINGS PRESENTATION | APRIL 2026
Slide 13: 1Q26 Ground-Up Completion: Oakley Shops at Laurel Fields
1Q26 Ground-Up Completion: Oakley Shops at Laurel Fields In the first quarter, Regency completed Oakley Shops at Laurel Fields, a Safeway-anchored ground-up development in the Bay Area for $36M $36M TPC @ 7%+ Yield 78K SF center anchored by Safeway 13 EARNINGS PRESENTATION | APRIL 2026
Slide 14: 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 15: Embodied Corporate Responsibility
Embodied Corporate Responsibility Corporate responsibility is strategic to the long-term sustainability and success of our business Regency’s Four Pillars of Corporate Responsibility People & Our Ethics & Environmental Culture Communities Governance Stewardship Regency’s best-in-class corporate resp
Slide 16: 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 17: 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