Phillips Edison & Company, Inc. · NASDAQ:PECO
Phillips Edison & — PECO GROW Webcast February 2024
19 slides from Phillips Edison &'s conference presentation, Feb 29, 2024
Slide 1: GROW with PECO
GROW with PECO February 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% 281 32.2M 97% 2021 Square Feet We create great omni-channel We are an experienced owner and grocery-anchored shopping Grocery Centered. operator exclusively focu
Slide 4: 2023 GROWTH Results
GROW 2023 GROWTH Results with PECO OPERATIONAL STRENGTH LIQUIDITY STRENGTH FINANCIAL RESULTS(3) Net-Debt-to-Adjusted-EBITDAre was 5.1x as Net income attributable to 97.4% leased occupancy(1) of December 31, 2023, compared to 5.3x as stockholders of $56.8M _________ of December 31, 2022 ____________
Slide 5: 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 (85% of ABR) 97% portfolio leased occupancy with continued strong Neighbor demand Experienced, cycle-tested team with local 97% of ABR fr
Slide 6: Grocery-Anchored
GROCERY-ANCHORED GROW with PECO PECO is one of the nation’s largest owners and operators exclusively focused on grocery-anchored neighborhood shopping centers 301 Shopping Centers(1) $7.0 Billion Total Enterprise Value(2) 97% ABR from Grocery-Anchored Centers(3) Kroger & Publix PECO’S #1 and #2 Neig
Slide 7: Regular Income; Strong Returns
REGULAR INCOME; STRONG RETURNS (1) GROW with PECO Stock Price Increase in September 2023 Increase to 2023 Earnings Per Diluted 2023: the Monthly Dividend Share Increase from 2022: +14.6% +14.3% Distribution Rate: +4.5% Current Dividend Current Annualized 2023 Same-Center NOI Growth Distribution Yiel
Slide 8: Omni-Channel Landlord
0MNI-CHANNEL LANDLORD GROW 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
WELL-ALIGNED & EXPERIENCED GROW 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 300 Hours of Community Service Completed by Associates during 2023 147 Active Electric Vehicle Charging Stations
Slide 10: Our Value Proposition
How We GROW: GROW with Our Value Proposition PECO STRATEGY + PORTFOLIO = RESULTS & OPPORTUNITIES Neighborhood centers anchored by the Exclusively focused on grocery- Cycle-tested history of delivering #1 or #2 grocer 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: 2023 Quarterly Infographic
GROW 2023 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 NOI for real estate investments and Same- Center NOI (in thousands): Notes: 1. Includes straight-line rent adjustments for Neighbors deemed to be non-creditworthy 2. Includes operating revenues and expenses from n
Slide 16: Non-GAAP Reconciliations
GROW Non-GAAP Reconciliations with PECO Presented is a reconciliation of Nareit FFO and Core FFO Attributable to stockholders and OP Unit Holders (in thousands): Note: 1. Realized performance income includes fees received related to the achievement of certain performance targets in our NRP joint ven
Slide 17: Non-GAAP Reconciliations
GROW Non-GAAP Reconciliations with PECO This table presents the Company’s calculation of EBITDAre and Adjusted EBITDAre and provides additional information related to its operations (in thousands): Note: 1. Realized performance income includes fees received related to the achievement of certain perf
Slide 18: Non-GAAP Reconciliations
GROW Non-GAAP Reconciliations with PECO This table presents the Company’s calculation of net debt and total enterprise value, inclusive of the Company’s prorated portion of net debt and cash and cash equivalents owned through its unconsolidated joint ventures, as of December 31, 2023 (in thousands):
Slide 19: 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: Note: 1. The Company does not provide a reconciliation for same-center NOI estimates on a forward-looking basis because it is unable to
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