Slide 1: Regency Centers Business Update May 6, 2021
Regency Centers Business Update May 6, 2021 Nocatee Town Center Jacksonville, FL
Slide 2: Safe Harbor and Non-GAAP Disclosures
Safe Harbor and Non-GAAP Disclosures Forward-Looking Statements Certainstatementsinthisdocumentregardinganticipatedfinancial,business,legalorotheroutcomesincludingbusinessandmarketconditions,outlookandothersimilarstatementsrelatingtoRegency’sfutureevents,developments,orfinancialoroperationalperforma
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: Regency Portfolio Foot Traffic
Regency Portfolio Foot Traffic(1) As a % of 2019 Foot Traffic 30% 40% 50% 60% 70% 80% 90% 100% 110% Feb'20 Mar'20 Apr'20 May'20 Jun'20 Jul'20 Aug'20 Sept'20 Oct'20 Nov'20 Dec'20 Jan'21 Feb'21 Mar'21 Apr'21 (1) Trailing 4 weeks, as a% of 2019 foot traffic As of mid-April 2021, foot traffic in Regency
Slide 5: Q1 Base Rent Collections
Q1Base Rent Collections As of May 3, 2021 Q1Base Rent Collections % of Pro-Rata ABR Q1Base Rent Collections by Category %of Pro-Rata ABR ESSENTIAL -RETAIL & SERVICES (99% COLLECTED) ESSENTIAL -RESTAURANTS (89% COLLECTED) OTHER -RETAIL & SERVICES (89% COLLECTED) Grocery / Drugstore 100% Banks 99% Pet
Slide 6: Base Rent Collections by Category and Quarter
% of ABR (1) Q2'20 Q3'20 Q4'20 Q1'21 ESSENTIAL - RETAIL & SERVICES 46% 98% 99% 99% 99% Grocery / Drugstore 24% 100% 100% 100% 100% Banks 5% 100% 100% 100% 99% Business Services 5% 88% 90% 93% 94% Pet 3% 94% 99% 98% 99% Office / Communications 3% 97% 98% 99% 96% Other Essential Retail 3% 97% 97% 97%
Slide 7: Deferral Agreement Status
REGENCY CENTERS BUSINESS UPDATE Deferral Agreement StatusAs of March 31, 2021 (1) Net Deferrals represent total unbilled deferrals still outstanding as of March 31, 2021 7 Total Executed Unbilled Deferrals Deferrals Cash Basis Tenants $22,419 $15,734 Accrual Tenants 20,326 12,523 Total $42,745 $28,2
Slide 8: National/Regional vs. Local Tenant Collection Status
National/Regional vs. Local Tenant Collection Status As of May 3, 2021 Total Portfolio Composition (1) % of Pro-Rata ABR as of 3/31/2021 REGENCY CENTERS (1) Local tenants defined as <3 locations; National/Regional tenants defined as ≥3 locations BUSINESS UPDATE Base Rent Collections Composition of U
Slide 9: Anchor vs. Shop Tenant Collection Status
Anchor vs. Shop Tenant Collection Status As of May 3, 2021 REGENCY CENTERS (1) Shop tenants defined as < 10K square feet, Anchor tenants defined as ≥10K square feet BUSINESS UPDATE Total Portfolio Composition (1) % of Pro-Rata ABR as of 3/31/2021 Base Rent Collections Composition of Unbilled Deferre
Slide 10: Regional Collection Status
Regional Collection Status As ofMay 3, 2021 REGENCY CENTERS BUSINESS UPDATE 10 Base Rent Collections Composition of Unbilled Deferred Rent ($28.3M) Total Portfolio Composition % of Pro-Rata ABR as of 3/31/2021 Central West Northeast Southeast Collected Deferred Uncollected 16% 33% 21% 30% 14% 35% 27
Slide 11: Progression of Total Billings, Deferrals and Other Revenue
REGENCY CENTERS BUSINESS UPDATE Progression of Total Billings, Deferrals and Other Revenue From Q1'20 to Q1'21 APPENDIX: COVID OPERATINGDATA * Other Revenues represents the difference between other revenues booked in 1Q20 vs. those booked in1Q21, including lease termination fee income and seasonal p
Slide 12: Q1 2021 Supplemental COVID Disclosure
Q12021Supplemental COVID Disclosure For the Three Months Ended March 31, 2021 (1) Includes pro-rata share of straight line rent on lease income, net of uncollectible amounts, and above/below market rent amortization. (2) Unbilled recoveries are included in Other Revenues, and represent unbilled amou
Slide 13: 2021 Earnings Guidance Summary
2021 Earnings Guidance Summary REGENCY CENTERS BUSINESS UPDATE 13 Full Year 2021 Guidance All figures pro-rata and in thousands, except per share data * Changes to Forecast Bolded Below * Current Previous Net Income Attributable to Common Stockholders per diluted share $1.43 - $1.53 $0.55 - $0.73 Na
Slide 14: Nareit FFO – 2020 to 2021 Guidance Reconciliation
Nareit FFO –2020 to 2021 Guidance Reconciliation REGENCY CENTERS BUSINESS UPDATE o Higher Same-Property NOI Forecast – We are increasing the SP NOI guidance range to +6.0 to +8.5% from -1.0% to +2.5% previously (see following page for additional detail on SP NOI drivers and reconciliation to current
Slide 15: SP NOI – Previous to Current Guidance Reconciliation
SP NOI –Previous to Current Guidance Reconciliation REGENCY CENTERS BUSINESS UPDATE 15 1) Formally Adopting the “Continued Improvement” Scenario – In February, we had provided guidance under a framework of 3 different macroeconomic scenarios – “Reverse Course,” “Status Quo” and “Continued Improvemen
Slide 16: Investments Update
Investments Update As of March 31, 2021, Regency‘s in-process redevelopment and development projects total $327 million at 7-8% estimated stabilized yields, and are ~51% funded. We anticipate project spend of ~$175 million annually over the next five years. Status as of: 3/31/2021 Regency’s Estimate
Slide 17: 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 immediateliquidity of $1.2billion. Total Pro-Rata Share Leverage Ratios 3/31/21(1) Net debt-to-Operating EBITDAre 5.9x Fixed charge coverage 3.6x Interest c
Slide 18: Strong Balance Sheet Position
Strong Balance Sheet Position $13.9Billion Total Capitalization Capital Structure Company Filings as of3/31/21 Wtd Avg InterestRate:3.8% WtdAvg Yrs to Maturity:9+Yrs Total Pro-Rata Debt:$4.2B UNCONSOLIDATED DEBT -SECURED CONSOLIDATED DEBT -SECURED UNSECURED DEBT -BONDS Debt Maturity Profile as of Ma
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