Phillips Edison & Company, Inc. · NASDAQ:PECO
Phillips Edison & — Investor Presentation (September 2024)
21 slides from Phillips Edison &'s investor presentation, Sep 18, 2024
Slide 1: GROW with PECO
GROW with PECO September 2024 Grocery Centered. Community Focused.
Slide 2: Safe Harbor and Non-GAAP Disclosures
GROW Safe Harbor and Non-GAAP Disclosures with PECO PECO’s Safe Harbor Statement This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company
Slide 3: PECO at a Glance
GROW PECO at a Glance with PECO Founded/IPO ABR from Portfolio Leased 1991/ Nasdaq Grocery Centers Properties Total GLA Occupancy PECO 97% 286 32.6M 98% 2021 Square Feet We create great omni-channel We are an experienced owner and grocery-anchored shopping Grocery Centered. operator focused on high-
Slide 4: Q2 2024 GROWTH Results
GROW Q2 2024 GROWTH Results with PECO OPERATIONAL STRENGTH LIQUIDITY STRENGTH FINANCIAL RESULTS(3) As of June 30, 2024, Net-Debt-to-Adjusted- Net income attributable to 97.5% leased occupancy(1) EBITDAre was unchanged at 5.1x from stockholders of $32.9M _________ December 31, 2023 ____________ _____
Slide 5: Focused and Differentiated GROWTH Strategy
Focused and Differentiated GROW with GROWTH Strategy PECO Key Elements of Our Strategy Cycle-Tested and Resilient Advantage ✓ ✓ #1 or #2 grocery anchor by sales 98% portfolio leased occupancy with continued (86% of ABR) strong Neighbor demand ✓ ✓ 97% of ABR from omni-channel grocery- Experienced, cy
Slide 6: Grocery-Anchored
GROW GROCERY-ANCHORED with PECO PECO is one of the nation’s largest owners and operators focused on high-quality, grocery-anchored neighborhood shopping centers 306 Shopping Centers(1) $7 Billion + Total Enterprise Value(2) 97% ABR from Grocery-Anchored Centers(3) Kroger & Publix PECO’S #1 and #2 Ne
Slide 7: Regular Income; Strong Returns
REGULAR INCOME; STRONG RETURNS GROW with PECO Total Shareholder September 2024 Increase to Q2 2024 Earnings Per Diluted Returns in 2024: the Monthly Dividend Share Increase from Q2 2023: Distribution Rate: 7% +5.1% +3.8% Current Dividend Current Annualized YTD Same-Center Distribution Yield: Dividen
Slide 8: Omni-Channel Landlord
GROW 0MNI-CHANNEL LANDLORD with PECO PECO’s neighborhood shopping centers are complementary to e-commerce and are positioned to thrive in today’s omni-channel environment BOPIS Our Centers Facilitate Buy Online and Pick-up in Store or “BOPIS” LAST-MILE DELIVERY Situated Near Customers, Our Centers O
Slide 9: Well-Aligned & Experienced
GROW WELL-ALIGNED & EXPERIENCED with PECO PECO is committed to being a responsible corporate citizen 30+ YEARS Well-Aligned and Cycle-Tested Experience 8% Insider Ownership of the Company 400+ Hours of Community Service Completed by Associates during 2023 147 Active Electric Vehicle Charging Station
Slide 10: How We GROW: Our Value Proposition
How We GROW: GROW with Our Value Proposition PECO STRATEGY + PORTFOLIO = RESULTS & OPPORTUNITIES Neighborhood centers anchored by the Focused on high-quality, grocery- Cycle-tested history of delivering #1 or #2 grocer by sales in a market anchored neighborhood centers more alpha with less beta ____
Slide 11: GROW with PECO
GROW with PECO GROCERY REGULAR INCOME; OMNI-CHANNEL WELL-ALIGNED ANCHORED STRONG RETURNS LANDLORD & EXPERIENCED investors.phillipsedison.com | Page 11
Slide 12: Q2 2024 Quarterly Infographic
GROW Q2 2024 Quarterly Infographic with PECO Quarterly Infographic Available on our Investor Relations Website Highlights Operating and Financial Performance on Quarterly Basis Be Sure to Check it Out Investors.PhillipsEdison.com investors.phillipsedison.com | Page 12
Slide 13: Thank you for your continued support!
Thank you for your continued support! InvestorRelations@phillipsedison.com Investors.PhillipsEdison.com Investors and Transactions: (888) 518-8073 Advisors: (833) 347-5717 investors.phillipsedison.com | Page 13
Slide 14: Appendix
I PHILLIPS EDISON & COMPANY PECO | Nasdaq Listed Appendix
Slide 15: Non-GAAP Reconciliations
GROW Non-GAAP Reconciliations with PECO Presented is a reconciliation of Net Income to Three Months Ended June 30, Six Months Ended June 30, NOI for real estate investments and Same- Center NOI (in thousands): 2024 2023 2024 2023 Net income $ 16,986 $ 16,209 $ 36,612 $ 34,845 Adjusted to exclude: Fe
Slide 16: Non-GAAP Reconciliations
GROW Non-GAAP Reconciliations with PECO Reconciliation of Nareit FFO and Core FFO Three Months Ended June 30, Six Months Ended June 30, Attributable to stockholders and OP Unit 2024 2023 2024 2023 Holders (in thousands): Calculation of Nareit FFO Attributable to Stockholders and OP Unit Holders Net
Slide 17: Non-GAAP Reconciliations
GROW Non-GAAP Reconciliations with PECO The following table presents the Company’s calculation of EBITDAre and Adjusted EBITDAre Three Months Ended June 30, Six Months Ended June 30, and provides additional information related to 2024 2023 2024 2023 its operations (in thousands): Calculation of EBIT
Slide 18: Non-GAAP Reconciliations
GROW Non-GAAP Reconciliations with PECO This table presents the Company’s calculation of EBITDAre and Adjusted EBITDAre and Year Ended December 31, Year Ended December 31, provides additional information related to its 2023 2022 operations (in thousands): Calculation of EBITDAre Net income $ 63,762
Slide 19: Non-GAAP Reconciliations
GROW Non-GAAP Reconciliations with PECO The following table presents the Company’s June 30, 2024 calculation of net debt and total enterprise value, inclusive of the Company’s prorated Net debt: portion of net debt and cash and cash equivalents owned through its unconsolidated joint ventures, as of
Slide 20: Non-GAAP Reconciliations
GROW Non-GAAP Reconciliations with PECO The following table presents the Company’s June 30, 2024 December 31, 2023 calculation of net debt and total enterprise Net debt: value, inclusive of the Company’s prorated portion of net debt and cash and cash Total debt, excluding discounts, market adjustmen
Slide 21: Non-GAAP Reconciliations
GROW Non-GAAP Reconciliations with PECO This table provides a reconciliation of the range of PECO’s 2024 estimated net income to estimated Nareit FFO and Core FFO: Updated Guidance Low End High End Net income per common share $ 0.49 $ 0.54 Depreciation and amortization of real estate assets $ 1.83 $
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