Slide 1: 2Q23 Earnings Presentation
2Q23 Earnings Presentation August 2023 Nocatee Town Center | Jacksonville, FL
Slide 2: Safe Harbor and Non-GAAP Disclosures
Safe Harbor and Non-GAAP Disclosures Forward-Looking Statements Risk Factors Related to Our Partnerships and Joint Ventures Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and We do not have voting control over all of the prop
Slide 3: Regency’s Unequaled Strategic Advantages
Regency’s Unequaled Strategic Advantages High Quality Open-Air Shopping Center Portfolio 80%+ grocery-anchored neighborhood & community centers Necessity, service, convenience, and value retailers serving the essential needs of our communities Well located in suburban trade areas with compelli
Slide 4: Regency's Mission, Vision, & Values
Regency's Mission, Vision, & Values Mission Regency Centers creates thriving environments for retailers and service providers to connect with surrounding neighborhoods and communities. Vision To elevate quality of life as an integral thread in the fabric of our communities. WE DO WE CONNECT WE WE AR
Slide 5: 2023 Earnings Guidance Summary
2023 Earnings Guidance Summary Full Year 2023 Guidance (in thousands, except per share data) 2Q YTD Current Guidance Previous Guidance Net Income Attributable to Common Shareholders per diluted share $1.07 $2.05 - $2.09 $2.01 - $2.09 Nareit Funds From Operations (“Nareit FFO”) per diluted share $2.1
Slide 6: Nareit FFO – '22 Actual to '23 Guidance Reconciliation
EARNINGS GUIDANCE Nareit FFO – ‘22 Actual to ‘23 Guidance Reconciliation Growth in SP NOI (ex. term fees, ex. ‘20/’21 collections) is contributing +16c/share to 2023 FFO at the midpoint Pandemic-related items continue to impact Y/Y comparability Guidance for COE per share growth ex. ‘20/’21 re
Slide 7: SP NOI Growth – Guidance Reconciliation
SP NOI Growth – Guidance Reconciliation Updated guidance for 2023 SP NOI Growth (ex. Term Fees, ex. ‘20/’21 Collections) is +3.0% to +3.5% (+25bps) Excludes the impact of all prior year collections ($20M in 2022 and an estimated $4M in 2023) Primary drivers of our +3.0% to +3.5% SP NOI growth
Slide 8: Low Leverage and Conservative Debt Covenant Ratios
Low Leverage and Conservative Debt Covenant Ratios Regency maintains a long-standing commitment to balance sheet strength and stands today with immediate liquidity of $1.2 billion. (1) Total Pro Rata Share Leverage Ratios 6/30/23 Net debt-to-Operating EBITDAre 4.9x Fixed charge coverage 4.8x Interes
Slide 9: Strong Balance Sheet Position
Strong Balance Sheet Position Capital Structure Pro Rata Debt Maturity Profile as of June 30, 2023 (% of total capitalization) Regency aims to have < 15% of total debt maturing in any given year <1% 3% 3% 22% $14.9 Billion Total 72% Capitalization Weighted Average Interest Rate: 3.7% Weighted Averag
Slide 10: In-Process Developments & Redevelopments
In-Process Developments & Redevelopments As of 6/30/2023, Regency's in-process development & redevelopment projects totaled over $400 million at 7-8% estimated stabilized yields SunVet Buckhead Landing Town & Country Long Island, NY Atlanta, GA Los Angeles, CA Estimated Future Spend In-Process Devel
Slide 11: Future Redevelopment Opportunities
Future Redevelopment Opportunities Our redevelopment pipeline serves to enhance value through: • Improved competitive positioning • Refreshment of the exterior façade and tenant merchandising mix • Construction of additional buildings, tenant expansions, and/or outdoor placemaking Avenida Biscayne W
Slide 12: Regency’s Approach to Corporate Responsibility
Regency’s Approach to Corporate Responsibility Corporate Responsibility is at the foundation of who we are and what we do We believe that acting responsibly is strategic to the long-term sustainability and success of our business, our stakeholders, and the environment Our Corporate Responsibility pr
Slide 13: Glossary of Terms
APPENDI X 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 Operating FFO for (i) capital expenditures necessar