Phillips Edison & Company, Inc. · NASDAQ:PECO
Phillips Edison & — Nareit REITweek 2025
43 slides from Phillips Edison &'s conference presentation, Jun 3, 2025
Slide 1: Nareit REITweek Investor Presentation
June 2025 Nareit REITweek Investor Presentation
Slide 2: Safe Harbor and Non-GAAP Disclosures
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 2 PECO | N A S D A Q L I S T E D Safe Harbor and Non-GAAP Disclosures
Slide 3: PECO at a Glance
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 3 PECO | N A S D A Q L I S T E D PECO at a Glance Source: Company data as of March 31, 2025; Dividend yield as of March 31, 2025 and is based on an annualized rate of $1.23 per share 1. For non-GAAP reconciliations, refer to the Com
Slide 4: PECO's Focused and Differentiated Strategy
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 4 PECO | N A S D A Q L I S T E D PECO’s Focused and Differentiated Strategy ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ Source: Company data as of March 31, 2025 1. Includes the prorated portion owned through the Company’s unconsolidated joint ventures
Slide 5: PECO Continues to Deliver Market-Leading Operating and Financial Results
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 5 PECO | N A S D A Q L I S T E D PECO Continues to Deliver Market-Leading Operating and Financial Results • • • • • • • • • Note: 1. Other companies may define/calculate differently than PECO. Accordingly, 4. Excludes M&A activity U
Slide 6: PECO Continues to Deliver Market-Leading Operating and Financial Results
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 6 PECO | N A S D A Q L I S T E D PECO Continues to Deliver Market-Leading Operating and Financial Results . . Note: Unless otherwise noted peers include REG, BRX, KIM, KRG, IVT, FRT, and AKR 1. Other companies may define/calculate d
Slide 7: PECO's Cycle-Tested Management Team
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D || 77 PECO | N A S D A Q L I S T E D PECO’s Cycle-Tested Management Team • • •
Slide 8: Grocery-Anchored Portfolio
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D PECO | N A S D A Q L I S T E D Grocery-Anchored Portfolio 8
Slide 9: Grocery-Anchored Centers Benefit from Macroeconomic Trends that Provide Strong Tailwinds for PECO
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 9 PECO | N A S D A Q L I S T E D Grocery-Anchored Centers Benefit from Macroeconomic Trends that Provide Strong Tailwinds for PECO • • • • ‒ ‒ • • • • • • Sources: 1. % of ABR as of March 31, 2025; Includes the prorated portion owne
Slide 10: Strategic Presence in Suburban Markets
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 1 0 PECO | N A S D A Q L I S T E D Strategic Presence in Suburban Markets • • • • Sources: 1. Based on total ABR in market for wholly-owned portfolio as of March 31, 2025 2. Placer.ai based on population growth in U.S. cities since
Slide 11: PECO Aligns with Leading Grocer Demographics
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 1 1 PECO | N A S D A Q L I S T E D PECO Aligns with Leading Grocer Demographics AVERAGE 3-MILE AVERAGE 3-MILE MEDIAN POPULATION HOUSEHOLD INCOME (thousands) (thousands) $92 $86 68 63 $79 58 Sources: Synergos Technologies, Inc, Calcu
Slide 12: Grocery Foot Traffic Remains Strong
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 1 2 PECO | N A S D A Q L I S T E D Grocery Foot Traffic Remains Strong 15.5 14.7 14.9 16.4 17.0 17.2 17.3 2019 2020 2021 2022 2023 2024 TTM Sources: 1. Placer.ai
Slide 13: Leasing Environment is Strong
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 1 3 PECO | N A S D A Q L I S T E D Leasing Environment is Strong Source: Green Street, Strip Center Sector Update, March 14, 2025 Source: CoStar Source: Company data as of March 31, 2025 Source: CoStar
Slide 14: PECO Delivers Regular Income and Strong Returns
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 1 4 PECO | N A S D A Q L I S T E D PECO Delivers Regular Income and Strong Returns Sources: 1. Guidance provided as of April 24, 2025 2. For non-GAAP reconciliations, refer to the Company’s latest quarterly financial supplement or 1
Slide 15: How PECO Defines Quality
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 1 5 PECO | N A S D A Q L I S T E D How PECO Defines Quality
Slide 16: PECO's Grocery-Anchored Advantage
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 1 6 PECO | N A S D A Q L I S T E D PECO’s Grocery- Anchored Advantage PECO GROCER SALES PSF GROWTH (4) 2019 2020 2021 2022 2023 2024 Q1 2025 Sources: 1. Based on the most recently reported sales data available 2. Company data as of
Slide 17: Total Portfolio Neighbors by Type
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 1 7 PECO | N A S D A Q L I S T E D Total Portfolio Neighbors by Type • • • Source: Company data as of March 31, 2025 Total portfolio ABR; Includes the prorated portion owned through the Company’s unconsolidated joint ventures
Slide 18: Local Neighbors by Type
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 1 8 PECO | N A S D A Q L I S T E D Local Neighbors by Type 4% 8% 28% 35% 9% • • 17% • 72% 27% Source: Company data as of March 31, 2025 Total portfolio ABR; Includes the prorated portion owned through the Company’s unconsolidated jo
Slide 19: Math Behind Local Neighbors
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 1 9 PECO | N A S D A Q L I S T E D Math Behind Local Neighbors • • • • Source: Company data as of March 31, 2025
Slide 20: Potential Tariff Impact on Neighbors
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 2 0 PECO | N A S D A Q L I S T E D Potential Tariff Impact on Neighbors
Slide 21: Retailers Growing with PECO
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 2 1 PECO | N A S D A Q L I S T E D Retailers Growing with PECO
Slide 22: Highly Diversified Neighbor Mix Led by Top Grocers and Necessity-Based Retailers
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 2 2 PECO | N A S D A Q L I S T E D Highly Diversified Neighbor Mix Led by Top Grocers and Necessity-Based Retailers • • • • • Sources: 1. % of ABR as of March 31, 2025; Includes the prorated portion owned through the Company’s uncon
Slide 23: Investments
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D PECO | N A S D A Q L I S T E D Investments 23
Slide 24: Strong Development and Redevelopment Activity
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 2 4 PECO | N A S D A Q L I S T E D Strong Development and Redevelopment Activity • • • Source: 1. As of March 31, 2025
Slide 25: Strong Acquisition Volume
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 2 5 PECO | N A S D A Q L I S T E D Strong Acquisition Volume • Source: Company data as of June 2, 2025 1. Acquisition through the Company’s Necessity Retail Venture LLC joint venture. Contract price shown at PECO’s 20% share 2. Acqu
Slide 26: 2025 Earnings Guidance
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D PECO | N A S D A Q L I S T E D 2025 Earnings Guidance 26
Slide 27: 2025 Earnings Guidance Summary
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 2 7 PECO | N A S D A Q L I S T E D 2025 Earnings Guidance Summary PECO’s Full Year 2025 Earnings Guidance – Updated as of April 24, 2025 All figures in millions, except per share data • • The Company does not provide a reconciliatio
Slide 28: Balance Sheet
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D PECO | N A S D A Q L I S T E D Balance Sheet 28
Slide 29: PECO's Strong and Flexible Balance Sheet Position
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 2 9 PECO | N A S D A Q L I S T E D PECO’s Strong and Flexible Balance Sheet Position • • • • • • • • • Source: 1. Company data as of March 31, 2025. Revolver capacity is net of letters of credit. Includes options to extend both the
Slide 30: Performance and Long-Term Growth
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D PECO | N A S D A Q L I S T E D Performance and Long-Term Growth 30
Slide 31: PECO's Cycle-Tested Performance
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 3 1 PECO | N A S D A Q L I S T E D PECO’s Cycle-Tested LEADING PERFORMANCE Performance • • • Sources: Company data
Slide 32: PECO's Cycle-Tested Performance
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 3 2 PECO | N A S D A Q L I S T E D PECO’s Cycle-Tested Performance LEADING PERFORMANCE • • Sources: Company data
Slide 33: Strong Operating Environment
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 3 3 PECO | N A S D A Q L I S T E D LEADING PERFORMANCE Strong Operating Environment Source: Company data as of March 31, 2025
Slide 34: Roadmap to Our Long Term Growth
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 3 4 PECO | N A S D A Q L I S T E D Roadmap to Our Long Term Growth Source: Company data
Slide 35: Long Term Growth Beyond Occupancy
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 3 5 PECO | N A S D A Q L I S T E D Long Term Growth Beyond Occupancy Source: Company data
Slide 36: Roadmap to Our Long Term Growth
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 3 6 PECO | N A S D A Q L I S T E D Roadmap to Our Long Term Growth MID-TO-HIGH SINGLE-DIGIT CORE FFO PER SHARE Source: Company data
Slide 37: PECO's Investments Enhance Long-Term Value
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 3 7 PECO | N A S D A Q L I S T E D PECO’s Investments Enhance Long-Term Value
Slide 38: PECO's Long Term Targets
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 3 8 PECO | N A S D A Q L I S T E D PECO’s Long Term Targets Same-Center NOI $350M to $450M in Growth of 3% to 4% Acquisitions Annually Mid-to-High-Single-Digit Core FFO per Share Growth and Higher AFFO Growth
Slide 39: Long Term Targets: External Growth
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 3 9 PECO | N A S D A Q L I S T E D Long Term Targets: External Growth $350M to $450M in acquisitions per year on-balance-sheet 9%+ Unlevered IRR
Slide 40: Corporate Responsibility
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D PECO | N A S D A Q L I S T E D Corporate Responsibility 40
Slide 41: Corporate Responsibility and Sustainability
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 4 1 PECO | N A S D A Q L I S T E D Corporate Responsibility and Sustainability Source: www.phillipsedison.com/corporate-responsibility
Slide 42: Glossary of Terms
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D PECO | N A S D A Q L I S T E D Glossary of Terms 42
Slide 43: Glossary of Terms
G R O C E RY C E N T ERED . N E I G H B O R H O O D F O C U S E D | 4 3 PECO | N A S D A Q L I S T E D Glossary of Terms