Phillips Edison & Company, Inc. · NASDAQ:PECO
Phillips Edison & — Q2 2026 Earnings Presentation
21 slides from Phillips Edison &'s earnings presentation, Jul 24, 2026
Slide 1: Q2 2026 Earnings Presentation
Q2 2026 Earnings Presentation July 2026 Shoppes of Paradise Lakes | Miami, FL Suburb
Slide 2: Safe Harbor and Non-GAAP Disclosures
Safe Harbor and Non-GAAP Disclosures 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. Phillips Edison & Company,
Slide 3: PECO at a Glance
PECO at a Glance PECO is the cycle-tested leader in right-sized, grocery-anchored neighborhood centers located where America’s top grocers are most profitable 1991/2021 PECO S&P 600 Founded/IPO Nasdaq Member 330 Total GLA 94% Properties(1) 37.4M ABR from Grocery- Square Feet(1) Anchored Centers(2) 8
Slide 4: PECO’s Focused and Differentiated Strategy
PECO’s Focused and Differentiated Strategy Highest concentration of grocery; highest percentage of neighborhood centers Key Elements of Our Strategy Cycle-Tested and Resilient Advantage 83% of ABR from centers with #1 or #2 grocers by 97% leased portfolio occupancy with continued sales in the market
Slide 5: PECO’s Grocery-Anchored Advantage
PECO’s Grocery-Anchored Advantage PECO’s grocery-anchored and necessity-based strategy provides unique strength and stability 94% of our ABR comes from 2.4% 83% grocery-anchored centers(1)(2) PECO Grocer PECO ABR from centers Health Ratio(4) with #1 or #2 Grocer by Sales in the Market(1)(2) PECO GRO
Slide 6: Grocery Foot Traffic Remains Strong
Grocery Foot Traffic Remains Strong Grocers continue to be resilient in the Shopping Center space National Grocery Foot Traffic Trend Visits Figures in billions 15.4 14.6 14.9 16.3 16.6 17.1 17.5 17.6 2019 2020 2021 2022 2023 2024 2025 TTM Mansell Village | Atlanta, GA Suburb Source: Placer.ai; TTM
Slide 7: PECO Continues to See a Strong Operating Environment
PECO Continues to See a Strong Operating Environment Strong occupancy and Neighbor demand continue to support attractive leasing economics PECO’s Comparable New Rent Spreads Leasing rent spreads demonstrate PECO’s strong pricing power and sustainable organic growth 13.3% 8.2% 15.7% 32.2% 25.2% 35.7%
Slide 8: PECO’s Strategic Presence in Suburban Markets
PECO’s Strategic Presence in Suburban Markets We are well-positioned for future growth with significant presence in Sun Belt states and growing U.S. cities 330 properties across 31 states(1) ~50% of ABR from Sun Belt states(2) Strong presence in growing U.S. cities Migration trends favor PECO’s top
Slide 9: Strategic Locations in Markets with Growing Demographics Driving Strong Rent Growth
Strategic Locations in Markets with Growing Demographics Driving Strong Rent Growth PECO aligns with leading grocer demographics PECO’s portfolio has an average 3-mile Average 3-Mile Average 3-Mile median household income of $102K, which Population Median Household Income is 16% above the U.S. avera
Slide 10: PECO Neighbors by Type
PECO Neighbors by Type Grocery continues to be PECO’s leading category exposure and is a key element of our strategy PECO’s healthy Neighbor mix and grocery-anchored strategy positions PECO well for continued growth: Restaurants including quick-service, fast-casual and full-service Medical – or Medt
Slide 11: PECO’s Highly Diversified Neighbor Mix is Led by Top Grocers and Necessity-Based Retailers
PECO’s Highly Diversified Neighbor Mix is Led by Top Grocers and Necessity-Based Retailers High-quality grocers and necessity-based retailers generate strong foot traffic Neighbor Location Count(1) % ABR(2) Neighbor Location Count(1) % ABR(2) 62 4.9% 6 0.8% 62 4.9% 42 0.7% 30 3.3% 16 0.7% 22 3.0% 3
Slide 12: Strong Acquisition Volume
Strong Acquisition Volume PECO is building long-term value through external growth; Our pipeline for 2026 remains strong 2026 Acquisition Summary 2026 Contract Price Grocery Anchor or Leased Occupancy at Acquisition Location GLA Acquisitions (in thousands) Everyday Retail Acquisition Date The Villag
Slide 13: Portfolio Recycling: Driving Long-Term Growth
Portfolio Recycling: Driving Long-Term Growth PECO is strategically selling lower-IRR assets and reinvesting into stronger growth opportunities to drive long-term earnings Unlock capital from stabilized properties and low forward IRRs Reinvest into high-IRR acquisitions to drive strong earnings grow
Slide 14: Strategic Portfolio Recycling
Strategic Portfolio Recycling PECO’s disciplined portfolio recycling strategy strengthens portfolio quality while enhancing our growth profile 2026 Disposition Summary 2026 Contract Price Grocery Location GLA Dispositions (in thousands) Anchor South Oaks Shopping Center Live Oak, FL 102,816 $5,250 N
Slide 15: Strong and Flexible Balance Sheet Position
Strong and Flexible Balance Sheet Position PECO’s balance sheet provides stability, flexibility and significant liquidity Significant liquidity position of $857M Weighted average interest rate of 4.4%(3) Trailing 12-month net debt to annualized Weighted average maturity of 5.6 years(3)(4) adjusted E
Slide 16: PECO’s Investments Enhance Long-Term Value
PECO’s Investments Enhance Long-Term Value We aim to invest in opportunities that are accretive to earnings and our long-term growth profile; We believe our target IRRs are meaningfully above our cost of capital Strategic Targets and Support Capital Sources and Uses Long-term targeting $400M–$500M i
Slide 17: PECO 2026 Earnings Guidance Summary
PECO 2026 Earnings Guidance Summary Full year guidance as of July 23, 2026 Q2 2026 Updated Full Year Previous Full Year YTD 2026 Guidance 2026 Guidance All figures in thousands, except per share data Net income per share - diluted $0.56 $0.95 - $0.97 $0.79 - $0.81 Nareit FFO per share - diluted $1.3
Slide 18: Industry Awards and Partnerships
Industry Awards and Partnerships PECO is consistently recognized for strong execution across innovation, culture, and sustainability ICSC Tech Innovator Award (2026) Green Lease Leader (2025) Gold AI and technology driving operational efficiency Sustainability embedded in leasing strategy Enhances t
Slide 19: Corporate Responsibility and Sustainability
Corporate Responsibility and Sustainability PECO is driving responsible growth through corporate responsibility and sustainability Board of Directors People & Culture Long-Term Growth Highly-qualified and majority independent Board PECO Cultural Advantage (PECO XP) committed to effective corporate g
Slide 20: Glossary of Terms
Glossary of Terms Anchor space: A space greater than or equal to 10,000 square feet of gross leasable area (GLA). Annualized base rent (ABR): Refers to the monthly contractual base rent as of the end of the applicable reporting period multiplied by twelve months. ABR per square foot (PSF): ABR divid
Slide 21: Non-GAAP Measures
Non-GAAP Measures The following table provides a reconciliation of the range of the Company's 2026 estimated net income to estimated Nareit FFO and Core FFO: Full Year 2026 Guidance Low End High End (Unaudited) Net income per share attributable to stockholders - diluted $0.95 $0.97 Depreciation and
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