Slide 1: Regency Centers Business Update
Regency Centers Business Update February 11, 2021 Hancock Center Austin, TX
Slide 2: Safe Harbor and Non-GAAP Disclosures
Safe Harbor and Non-GAAP Disclosures Forward-Looking Statements Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to Regency’s future events, developments, or
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 affluent,infill suburban trade areas Best
Slide 4: Tenant Operating Status
Tenant Operating Status As of January 31, 2021 Status of Tenant Operations(1) % of Pro-Rata ABR(2) 3% Closed 97% Open % of Pro-Rata ABR Open 59% Apr 30, 2020 75% May 31, 2020 95% Jul 31, 2020 97% Oct 31, 2020 97% Jan 31, 2020 (1) Open status includes tenants operating withgovernment imposedcapacity
Slide 5: Regency Portfolio Foot Traffic
Regency Portfolio Foot Traffic Portfolio foot traffic has recovered to ~80-85% of year-ago levels, but remains impacted by government mandated closures and capacity restrictions Jan-20 57 M Feb-20 56 M Mar-20 45 M Apr-20 25 M May-20 35 M Jun-20 43 M Jul-20 46 M Aug-20 48 M Sep-20 46 M Oct-20 49 M No
Slide 6: Q4 Base Rent Collections
Q4Base Rent Collections As of February 8, 2021 Q4Base Rent Collections % of Pro-Rata ABR 92% Collected 7% Uncollected 1% Deferred Q4Base Rent Collections by Category %of Pro-Rata ABR ESSENTIAL -RETAIL & SERVICES (99% COLLECTED) ESSENTIAL -RESTAURANTS (87% COLLECTED) OTHER -RETAIL & SERVICES (86% COL
Slide 7: Base Rent Collection Trajectory
Base Rent Collection Trajectory As of February 8, 2021 Base Rent Collections by Period % of Pro-Rata ABR Collected Deferred Uncollected 2Q'2020 9% 12% 79% 3Q'2020 7% 4% 89% 4Q'2020 7% 1% 92% Jan 2021* 10% 1% 89% Base Rent Collected Tenant Category% ofABR (1)% Open 2Q20 3Q20 4Q20 Jan '21 ESSENTIAL RE
Slide 8: Executed Deferral Agreements
Executed Deferral Agreements As of January 31, 2021 Deferred Rent –Period Billed ($41M) 3Q'2020 22% 4Q'2020 8% 2021 6% 2Q'2020 64% Deferred Rent –Payment Timing ($41M) Total 2021 3Q'2021 73% 2Q'2021 20% 1Q'2021 24% 2022+ 12% 2020 15% Total Executed Deferral Agreements (through January 31, 2021) Leas
Slide 9: National/Regional vs. Local Tenant Collection Status
National/Regional vs. Local Tenant Collection Status As of February 8, 2021 Total Portfolio Composition (1) % of Pro-Rata ABR as of 12/31/2020 Local Tentant 22% National & Regional Tentants 78% Composition of Deferred Rent ($41M) Local Tentant 25% National & Regional Tentants 75% (1) Local tenants d
Slide 10: Anchor vs. Shop Tenant Collection Status
Anchor vs. Shop Tenant Collection Status As of February 8, 2021 Total Portfolio Composition (1) % of Pro-Rata ABR as of 12/31/2020 Shop Tentants 55% Anchor Tentants 45% Composition of Deferred Rent ($41M) Shop Tentants 61% Anchor Tentants 39% (1) Shop tenants defined as < 10K square feet, Anchor ten
Slide 11: Regional Collection Status
Regional Collection Status As ofFebruary 8, 2021 Total Portfolio Composition % of Pro-Rata ABR as of 12/31/2020 Central 15% Pacific Coast 34% Northeast/Mid-Atlantic 21% Southeast 30% Base Rent Collections Pacific Coast 15% 11% 75% Q2 13% 4% 84% Q3 13% 2% 86% Q4 Northeast/ Mid-Atlantic 9% 14% 77% Q2
Slide 12: Progression of Total Billings, Deferrals and Other Revenue
Progression of Total Billings, Deferrals and Other Revenue From 1Q'20 to 4Q'20 $300.9 Billed Revenues Q1 2020 ($2.6) Other Revenues Adjustment ($1.3) Dispositions $1.8 Contractual Rent Steps ($5.3) Occupancy / BK Impact ($2.6) Non-Qualifying Lease Modifications $291.0 Billed Revenues Q4 2020 * ‘Othe
Slide 13: Q4 2020 Supplemental COVID Disclosure (Three Months)
Q42020 Supplemental COVID Disclosure For the Three Months Ended December 31, 2020 Composition of Lease Income Total Pro-Rata Base Rent $215,991 Recoveries from Tenants 68,825 Percentage Rent, Termination Fees, and Other Lease Income 6,191 Total Billings/Deferrals and Other Revenue 291,007 Uncollecti
Slide 14: Q4 2020 Supplemental COVID Disclosure (Nine Months)
Q42020 Supplemental COVID Disclosure For the Nine Months Ended December 31, 2020 Composition of Lease Income Total Pro-Rata Base Rent $650,070 Recoveries from Tenants 207,028 Percentage Rent, Termination Fees, and Other Lease Income 16,209 Total Billings/Deferrals and Other Revenue 873,307 Uncollect
Slide 15: Investments Update
Investments Update Manageable Commitments Regency continues to evaluate the impactstoscope, timing, tenancy, and return on investment on all in-process and pipelineprojects to determine the most appropriate strategy. TheAbbot Boston,MA East San Marco Jacksonville, FL CarytownExchange Richmond,VA In-
Slide 16: 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 totalliquidity of $1.2billion. Total Pro-Rata Share Leverage Ratios 12/31/20(1) Net debt-to-Operating EBITDAre 6.0x Fixed charge coverage 3.6x Interest cove
Slide 17: Strong Balance Sheet Position
Strong Balance Sheet Position Capital Structure (% of total capitalization $12.5 Billion Total Capitalization 28% 4% 4% 2% 62% EQUITY UNSECURED DEBT –BONDS UNCONSOLIDATED DEBT -SECURED CONSOLIDATED DEBT -SECURED UNSECURED DEBT –TERM Company Filings as of12/31/20 Wtd Avg InterestRate: Wtd Avg Yrs to
Slide 18: 2021 Guidance Reconciliation of Nareit FFO
2021 Guidance Reconciliation of Nareit FFO Low "Reverse Course" Mild "Status Quo" High "Continued Improvement" 2020 Nareit FFO Per Diluted Share $2.95 $2.95 $2.95 Notes Same Property Net Operating Income (ex. Term Fees, Dispos.) (0.06) 0.01 0.08 Guidance of -1.0% to +2.5% Non-Same Property Net Opera
Slide 19: Regency's Approach to Corporate Responsibility
Regency’s Approach to Corporate Responsibility Regency’s values, including the critical importance that we place on corporate responsibility, are the foundation of who we are and what we do. They drive us to implement leading environmental, social and governance ("ESG") initiatives through our Corpo