Slide 1: Investor Presentation Q2 2026
INVESTOR PRESENTATION Q2 2026
Slide 2: Introductory Notes: Forward-Looking Statements Disclaimer
INTRODUCTORY NOTES Forward-Looking Statements Disclaimer Forward-Looking Statements in this presentation, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and e
Slide 3: Company Overview
COMPANY OVERVIEW Portfolio Statistics 78 97% 89% 12.3M 158K 77K $161K Retail Properties Sun Belt1 Grocery Anchored1,2 Total GLA Avg. Center Size 3-Mi Pop 3-Mi Avg. HHI Full Year Guidance Long-Term Targets $1.92 - $1.96 3.25% - 4.25% 5.0x - 6.0x 25% - 35% Growth of 4.9% to 7.1% 2026 SPNOI Growth Net
Slide 4: Second Quarter 2026
SECOND QUARTER 2026 Operating Results 4.1% $20.94 96.2% 88% 98.1% 93.2% 8.5% SPNOI Growth ABR Per SF 1 Leased Occupancy Tenant Retention Anchor Tenant Small Shop Tenant Comparable Leasing Rate Leased Occupancy Leased Occupancy Spreads – New & Renewals Financial Performance $0.48 5.3x 31.9% $489M $1.
Slide 5: A Simple & Focused Investment Opportunity
A SIMPLE & FOCUSED Sun Belt Markets with Strong, Persistent Migration INVESTMENT OPPORTUNITY • Moving towards 100% Sun Belt concentration (peer average ~38%)1 • Attractive demographic trends – jobs, population, education, and household income G N BELT ANCRO • In 2026, the Sun Belt will lead the nati
Slide 6: Wealth Migration Continues to Fuel Sun Belt Market Growth
WEALTH MIGRATION CONTINUES TO FUEL SUN BELT MARKET GROWTH InvenTrust is Positioned in the Markets Capturing Population Growth, Income Gains, and Retailer Demand Net Interstate Income Flows1 NY -$10B MA OH -$4B -$2B IL -$6B PA -$2B TN NC CA +$3B +$4B -$12B GA +$746M SC +$4B AZ +$3B FL TX +$21B +$6B 1
Slide 7: Investing in Emerging Sun Belt Markets
INVESTING IN EMERGING SUN BELT MARKETS A Natural Expansion of the InvenTrust Portfolio ASHEVILLE, NC CHARLESTON, SC GREENSBORO, NC • Population expected to grow 4% over next • 2% annual population growth, more than 2x • Steady population growth, up 3.9% since five years1 the U.S. average 2 20202 • T
Slide 8: Scaling the Platform Through Acquisitions
SCALING THE PLATFORM THROUGH ACQUISITIONS Acquired ~$465 Million of Assets in 2025 ~$290M Year-To-Date YEAR-TO-DATE ACQUISITIONS 2025 ACQUISITIONS NEW GARDEN CROSSING Property Market Center Type MSA: Greensboro, NC • Acquired Q3 2026 • 100% leased occupancy Plaza Escondida Tucson, AZ Neighborhood Ce
Slide 9: Sun Belt Focused
SUN BELT FOCUSED Clustered Portfolio Brings Operational Efficiencies in the Fastest Growing Markets InvenTrust Portfolio by Percentage of ABR1 DC Metro 3% Richmond 5% Raleigh / Durham 6% Charlotte / Asheville 8% Charleston Savannah 4% 1% Los Angeles Atlanta Orlando 1% 9% 4% Houston Nashville/ Miami
Slide 10: Strong Fundamentals and Sector Tailwinds
STRONG FUNDAMENTALS AND SECTOR TAILWINDS Historically Low Supply Projected to Continue 3.0%3.0 Strip Center Supply Growth1 (as % of existing stock) 2.5%2.5 2.0%2.0 1.5%1.5 1.0%1.0 0.5%0.5 0.0% '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25
Slide 11: Established Centers with Necessity-Based Tenants
ESTABLISHED CENTERS WITH NECESSITY-BASED TENANTS Rio Pinar Plaza NEIGHBORHOOD CENTER1 MSA: Orlando Trade Area 1-3 Miles • 43 properties • 32% of ABR2 • 3.6M GLA • $22.52 ABR3 Shops at Arbor Trails COMMUNITY CENTER MSA: Austin Trade Area 3-5 Miles • 23 properties • 44% of ABR2 • 5.2M GLA • $21.58 ABR
Slide 12: Tenant Composition
TENANT COMPOSITION Diverse and Balanced Tenant Mix Provides Durable Cash Flows Portfolio Composition Tenant Composition Tenant Composition % of ABR % of ABR 1 % of ABR1 Essential Retail Breakout 58% Grocery 17% Restaurants Health & Beauty Services 11% Local 17% 21% Grocery / Medical 10% Essential Of
Slide 13: Essential Retail Dominates Merchandise Mix Recently Executed Leases
ESSENTIAL RETAIL DOMINATES MERCHANDISE MIX RECENTLY EXECUTED LEASES Anchors Small Shop Top 10 Tenants Ranking Tenant Credit Rating (S&P) # of Leases % of ABR1 MSA: SARASOTA 1 BBB 13 2 3.3% 2 N/A 163 3.0% MSA: ORLANDO MSA: AUSTIN 3 A 18 2.6% 4 AA 8 2.1% MSA: AUSTIN MSA: MIAMI 5 BB+ 6 1.8% MSA: SARASO
Slide 14: Limited Exposure to Watch List Tenants
LIMITED EXPOSURE TO WATCH LIST TENANTS REIT Exposure to Watch List Tenants1 (as a percentage of GLA) 8.6% 6.1% 5.9% 5.6% 5.1% 5.2% 5.3% 4.0% 3.3% 1.8% PECO IVT REG BRX AKR Peer KIM KRG FRT UE Avg 1. Source: BofA, July 17, 2026. BofA Watch List Tenants Include (34 total): Advance Auto Parts, AMC Ente
Slide 15: Strong Leasing Activity Continues
STRONG LEASING ACTIVITY CONTINUES Total Leased Occupancy 97.4% 96.7% 96.1% 96.2% 96.2% 2022 2023 2024 2025 Q2 2026 Leased to Economic Occupancy Spread (basis points) SNO Pipeline - $5.6M in incremental ABR • 77% expected to commence in 2026 • 18% expected to be recognized as 290 income in 2026 220 2
Slide 16: Above Average Same Property NOI Growth with Lower Capital Expenditures
ABOVE AVERAGE SAME PROPERTY NOI GROWTH WITH LOWER CAPITAL EXPENDITURES Capital Expenditures (including Redevelopment) by REIT1 Cumulative Same Property (Average % of NOI ‘21 - ‘25) NOI Growth1 (‘22 - ‘25) 42% 19.8% 38% 16.9% 28% 27% 23% 22% 22% 20% 20% 20% PECO KIM IVT REG AKR KRG Peer FRT BRX UE IV
Slide 17: Disciplined Redevelopment Program
DISCIPLINED REDEVELOPMENT PROGRAM Anticipated Project Yields Between 7-10% GATEWAY MARKETPLACE PLANTATION GROVE MSA: Orlando, FL St Petersburg, FL Status: To Commence in 2026 Est. Completion Year: 2027 Project Description: Demolition and rebuild of the existing grocer to accommodate a larger, 54,000
Slide 18: Investment-Grade Balance Sheet
INVESTMENT-GRADE BALANCE SHEET LOW LEVERAGE BUSINESS MODEL Debt Maturity Schedule ($ Millions) $337 Secured $300 BBB- / STABLE Unsecured Fitch Rating $206 $275 $200 $100 $100 $489 MILLION $26 $21 Liquidity $0 $62 $6 2026 2027 2028 2029 2030 2031 2032 2033 5.3x Net Debt-to-Adjusted EBITDA1 6.1x 2nd Q
Slide 19: Sustainable Dividend Growth
SUSTAINABLE DIVIDEND GROWTH Aggregate dividends declared as a percentage of Core FFO = 51%1 $1.002 $0.95 $0.91 $0.86 $0.82 $0.78 2021 2022 2023 2024 2025 2026 PGA PLAZA | MSA: MIAMI 1. Aggregate distributions declared (as a % of Core FFO) for the three months ended June 30, 2026 2. Quarterly dividen
Slide 20: Consistent Cash Flow Growth
CONSISTENT CASH FLOW GROWTH 2026 Guidance Net Income Per Diluted Share Nareit FFO Per Diluted Share $0.12 to $0.18 $2.01 to $2.07 Core FFO Per Diluted Share SPNOI Growth $1.92 to $1.96 3.25% to 4.25% Net Investment Activity ~$300M NASHVILLE WEST | MSA: NASHVILLE Q2 2026 Investor Presentation 2 0
Slide 21: Components of Long-Term Annual NOI Growth
COMPONENTS OF LONG-TERM ANNUAL NOI GROWTH Embedded Rent Escalations Positive Spreads For 150 – 200 bps Operational New & Renewal Efficiency Leases 25 – 50 bps 50 – 100 bps Incremental Occupancy Redevelopment Increases 50 - 75 bps 25 – 50 bps Q2 2026 Investor Presentation 2 1
Slide 22: Corporate Responsibility
CORPORATE RESPONSIBILITY We believe that our efforts to enhance our communities, conserve resources, and foster a best-in-class work environment are not just compatible with, but facilitative of, growing long-term stockholder value ENVIRONMENTAL • 100% of properties have energy management systems in
Slide 23: Strong and Experienced Board of Directors
ll not seek re-election mpany’s 2025 Annual Julian E. Whitehurst • Former Director and CEO of National Retail Properties, Inc. Chairperson since 2024 • Previously served as COO of National Retail Properties, Inc. STRONG AND EXPERIENCED Director since 2016 • Practiced business and real estate law for
Slide 24: Definitions
DEFINITIONS NON-GAAP FINANCIAL MEASURES NAREIT FUNDS FROM OPERATIONS (NAREIT FFO) AND CORE FFO This presentation includes certain financial measures and other terms that are not in accordance The Company's non-GAAP measure of Nareit Funds from Operations ("Nareit FFO"), with U.S. Generally Accepted
Slide 25: Reconciliation of Non-GAAP Measures: Same Property NOI
RECONCILIATION OF NON-GAAP MEASURES Same Same Property Property NOI NOI The following table presents the components of Same Property NOI: Note: In thousands Three Months Ended June 30 Six Months Ended June 30 2026 2025 2026 2025 Income Minimum base rent $ 44,901 $ 43,556 $ 89,250 $ 86,740 Real estat
Slide 26: Reconciliation of Net Income to Same Property NOI
RECONCILIATION OF NET INCOME TO SAME PROPERTY NOI Same Property Net Income to SameNOI Property NOI The following table reconciles Net Income to Same Property NOI: Note: In thousands Three Months Ended June 30 Six Months Ended June 30 2026 2025 2026 2025 Net income $ 1,369 $ 95,942 $ 6,553 $ 102,734
Slide 27: Reconciliation of Non-GAAP Measures: Nareit FFO and Core FFO
RECONCILIATION Nareit FFO and Core FFO OF NON-GAAP MEASURES NareitThe FFO & Core following tableFFO reconciles Net Income to Nareit FFO Applicable to Common Shares and Dilutive Securities and Core FFO Applicable to Common Shares and Dilutive Securities: Note: In thousands, except share and per share
Slide 28: Reconciliation of Non-GAAP Measures: EBITDA and Adjusted EBITDA
RECONCILIATION OF NON-GAAP MEASURES EBITDA and Adjusted EBITDA EBITDA & Adjusted EBITDA The following table reconciles Net Income to EBITDA and Adjusted EBITDA: Note: In thousands Three Months Ended June 30 Six Months Ended June 30 2026 2025 2026 2025 Net income $ 1,369 $ 95,942 $ 6,553 $ 102,734 In
Slide 29: Reconciliation of Financial Leverage Ratios
RECONCILIATION OF FINANCIAL LEVERAGE RATIOS NetNetDebt-to-Adjusted EBITDA Debt and Net Debt-to-Adjusted EBITDA The following table calculates net debt and Net debt-to-Adjusted EBITDA. Note: In thousands As of June 30 As of December 31 2026 2025 Net Debt: Outstanding Debt, net $ 1,094,796 $ 825,881 L
Slide 30: Reconciliation of 2026 Guidance Range
RECONCILIATION OF 2026 GUIDANCE RANGE Estimated Net Income Per Share to Estimated Nareit FFO and Core FFO Per Diluted Share (Unaudited) Low End High End Net income per diluted share $ 0.12 $ 0.18 Depreciation and amortization of real estate assets 1.89 1.89 Nareit FFO per diluted share 2.01 2.07 Amo
Slide 31: Corporate Office
Corporate Office 3025 Highland Parkway | Suite 350 Downers Grove, IL 60515 630.570.0700 info@InvenTrustProperties.com Investor Relations 630.570.0605 InvestorRelations@InvenTrustProperties.com Transfer Agent Computershare 855.377.0510 Investor Quarterly Corporate Presentation Earnings Responsibility