Kimco Realty Corporation (hc) · NYSE:KIM
Kimco Realty Corporation (hc) — Q2 2026 Earnings Presentation
28 slides from Kimco Realty Corporation (hc)'s earnings presentation, Aug 4, 2026
Slide 1: Investor Presentation Second Quarter 2026
West Broward Shopping Center Investor Presentation Plantation, Florida Second Quarter 2026 kimcorealty.com kimcorealty.com
Slide 2: Safe Harbor and Non-GAAP Disclosures
Safe Harbor and Non-GAAP Disclosures Forward-Looking Statement and Risk Factors This communication contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, a
Slide 3: Kimco at a Glance
Kimco at a Glance Necessity-Based Focus Providing essential, necessity-based goods and services to local communities. NYSE: KIM S&P 500 A- / A3 Credit Rated First-Ring Suburb Strategy Expanding a nationally-diversified portfolio located in the high-barrier to entry, first-ring suburbs within key maj
Slide 4: 2026 Strategic Pillars
2026 Strategic Pillars 01 02 03 Platform Power Embedded Disciplined & Accretive & Efficiency Growth Engine Capital Allocation • Grocery-anchored properties in • Contractually scheduled rent • Redeploy low-growth, low-cap dense, affluent first-ring suburban increases ground leases and mixed-use trade
Slide 5: Why Kimco Realty?
Why Kimco Realty? High-Quality Necessity-Based Portfolio Generating Consistent, Visible Growth at a Discounted Price Sector-Leading FFO Growth at Below-Sector Multiple Best-in Class Grocery Anchor Quality • One of the only Shopping Center REITs to achieve >5% FFO growth in ‘24 and >6% in ’25 • 87% g
Slide 6: Growth at a Reasonable Price (GARP)
Growth at a Reasonable Price (GARP) Kimco offers consistent growth and a discounted multiple at an attractive yield with a growing common dividend 18% Cheap / High Growth PECO Expensive / High Growth Dividend Yields 16% 14% KIM 4.4%* IVT Growth (Nareit FFO 2024–2026E) REG EQR 4.1% 12% KIM FRT SPG 4.
Slide 7: Strong Fundamentals Differentiated
Quail Corners Charlotte, NC Strong Fundamentals Differentiated Portfolio
Slide 8: Advantages of Scale
Strong Fundamentals Differentiated Portfolio Advantages of Scale With 564 shopping centers and mixed-use assets, Kimco's industry-leading scale reinforces its competitive advantages, including superior access to capital, operating efficiencies, and retailer partnerships. National Accounts & Portfoli
Slide 9: National Footprint in First-Ring Suburbs
Strong Fundamentals Differentiated Portfolio National Footprint in First-Ring Suburbs 82% of Annual Base Rent (ABR) from Top Major Metro Markets1 First-Ring Suburbs Denver Strong demographics · Operational efficiency · Scalable economics Seattle • High population density and affluent households • 91
Slide 10: New Development at Historic Lows
Strong Fundamentals Differentiated Portfolio New Development at Historic Lows Strip Center Supply Growth vs. Leased Rates Rent Increase Needed to Make Stable Development Economically 3.5% 97% Feasible2 100% 3.0% 96% 90% ~65% ~$450/SF 2.5% 95% 80% avg cost of ground-up market rent increase 70% needed
Slide 11: Physical Stores Drive Retailer Profitability
Strong Fundamentals Differentiated Portfolio Physical Stores Drive Retailer Profitability THE CHALLENGE THE SOLUTION THE MULTIPLIER E-Commerce Is Essential, Stores Solve the Stores Compound But Fulfillment Is Costly Fulfillment Equation Online Growth 25-30% 50%+ +13.9% of an item’s value is lost to
Slide 12: 78% of ABR - Discount & Necessity Goods + Services
Strong Fundamentals Differentiated Portfolio 78% of ABR - Discount & Necessity Goods + Services Discount & necessity goods 40% Top 10 tenants by ABR Leases % ABR S&P Grocery & beverages 17% 1 TJX Companies* 180 3.7% A Off-price 10% Home Improvement 3% 2 Ross Stores* 109 2.0% A- Pet Stores / Veterina
Slide 13: Portfolio Breakdown: Anchor & Small Shop Tenancy
Strong Fundamentals Differentiated Portfolio Portfolio Breakdown: Anchor & Small Shop Tenancy 48% of Kimco’s ABR is derived from small shop tenants (<10K SF), comprised primarily of: • Restaurants (quick serve, fast casual and full service) Top 50 Small Shop Tenants • Beauty Supplies and Personal se
Slide 14: Necessity-Based Tenancy Drives Durable Traffic
Strong Fundamentals Differentiated Portfolio Necessity-Based Tenancy Drives Durable Traffic Recurring traffic through every economic cycle 5.0% KIM 2026 YoY Traffic growth up ~3% 4 KIM All Shopping Centers 3x More annual customers at grocery-anchored vs. unanchored centers, driving 15%-25% higher -1
Slide 15: Retailer Demand Remains Deep & Broad-Based
Strong Fundamentals Differentiated Portfolio Retailer Demand Remains Deep & Broad-Based Broad-Based Demand Across Categories & Box Sizes Examples of Kimco’s national platform supporting • 2026 expected store openings +1.3% YoY, led by restaurants, off-price, hardlines, discounters & beauty1 multi-ma
Slide 16: Leasing Execution Is Delivering & Accelerating
Strong Fundamentals Differentiated Portfolio Leasing Execution Is Delivering & Accelerating 2Q Leasing Success • 6% increase in net effective rents over the TTM, and 3%+ ABR/SF CAGR over the trailing 2 years • 3%+ / 4%+ annual rent bumps on 84% / 35% of small shop new leases • 40.4% pro-rata rent sp
Slide 17: Visible Future Cash Flow Growth
Strong Fundamentals Differentiated Portfolio Visible Future Cash Flow Growth Economic occupancy remains 190 bps below prior peak levels, providing embedded growth potential Expected Timing of Commencements ($M ABR) Expected Incremental Cash Flow Receipts ($M) $68 $75 $55 $7 $8 $32 $33 48% of SNO ABR
Slide 18: Accretive Capital Allocation
Airport Plaza Farmingdale, NY Accretive Capital Allocation
Slide 19: 2026 Capital Allocation
Accretive Capital Allocation 2026 Capital Allocation YTD Actuals (Through 7.31.26) Base Plan Sources of Capital Amount (Ms) Yields Amount (Ms) Implied Yield Free Cash Flow1 $80 3.5% $150 to $165 3.5% Asset Sales $261 5.1% $300 to $500 5.0% to 6.0% Total for Accretive Deployment $341 4.7% $450 to $66
Slide 20: Case Study: Accretive Recycling in Action
Accretive Capital Allocation Case Study: Accretive Recycling in Action SOLD AQUIRED Home Depot Plaza Tanasbourne Village1 Santa Ana, CA Hillsboro, OR Transaction Sold Acquired using 1031 proceeds Cap Rate 5.2% 6.2% (+100bps) Expected CAGR <1% 3%+ (>200bps) Total pro-rata $50M2 $66M ($38M net of debt
Slide 21: Case Studies: Structured Investment → Acquisition
Accretive Capital Allocation Case Studies: Structured Investment → Acquisition Unique to Kimco: Structured Investment Program Building a Strategic Pompano Marketplace Acquisition Pipeline Pompano , FL STRUCTURED PURCHASE PRICE Incremental Acquired Jul '26 INVESTMENT $53M Capital • Provides capital t
Slide 22: Value Creation: Grocery-Focused Redevelopment
Accretive Capital Allocation Value Creation: Grocery-Focused Redevelopment Redevelopment1 Anchor Repositioning1 Completed 2026 10.8% 16.6% Incl. 3 Grocer Conversions Yield Yield 9 Projects • $38M Gross Costs 7 Projects • $30M Gross Costs Active Projects 9 to 11% 18 to 23% 13 of 32 Grocery-Focused Ex
Slide 23: Value Creation: Mixed-Use Redevelopment
Accretive Capital Allocation Value Creation: Mixed-Use Redevelopment Program Summary Active Project Spotlights • Preferred equity mixed-use developments with best-in-class residential developers • Kimco’s contribution of entitled land at a marked-up value reduces capital outlay Coulter Place @ Subur
Slide 24: Significant Financial Strength
Wexford Plaza Pittsburgh, Pennsylvania Significant Financial Strength
Slide 25: 2026 Financial Snapshot
Significant Financial Strength 2026 Financial Snapshot 4.5% A-/A3 ~$160M Growth in FFO/diluted Credit ratings from Annual free cash flow after share over Q2’25 S&P/Fitch/Moody’s; dividends and leasing and 1 of a select group of REITs maintenance capex 5.5x $2.7B 12.0% Net debt to EBITDA Liquidity, i
Slide 26: Financial Capacity to Support Growth
Significant Financial Strength Financial Capacity to Support Growth COMMITTED TO SOURCES USES Investment grade credit rating of: ~$160M of annual free cash flow 2026 Debt Maturities: ~$800M, A- S&P / A- Fitch / A3 Moody’s after dividends and leasing and mostly pre-funded maintenance capex Lo
Slide 27: $600M Exchangeable Senior Notes
Significant Financial Strength $600M Exchangeable Senior Notes Opportunistic Capital Raise: Low-cost capital with limited, deferred, and buffered dilution, due 2031 3.50% 27.5% ~$9M/yr Coupon Exchange premium ($32.36/sh) Interest savings 60% > share price @ 1/1/2026 vs. straight debt Net share settl
Slide 28: Well-Staggered Debt Maturity Profile
Significant Financial Strength Well-Staggered Debt Maturity Profile Debt Profile: Consolidated JV1 Consolidated Unsecured Fixed Rate (~100% of outstanding Cons. Debt) 3.96%1 4.44%1 Pre-funded Consolidated Unsecured Floating Rate 4.81%1 5.52%1 Consolidated Secured WAVG Term 7.4yrs 3.8yrs Secured Debt
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