Slide 1: Brixmor Property Group Investor Presentation
Brixmor Property Group Investor Presentation Quarter Ended September 30, 2025 BRX LISTED NYSE
Slide 2: Overview: High Quality, Diversified, Open-Air Retail Portfolio
Overview: High Quality, Diversified, Open-Air Retail Portfolio • One of the largest open-air retail landlords in the US with 354 shopping centers Annual Dividend Growth $1.23 $1.15 • As the value-add leader in the open-air retail space, we strive to create and own $1.09 $1.04 properties that are the
Slide 3: Overview: Diversified Portfolio
Overview: Diversified Portfolio Portfolio Quick Facts Leading Landlord To Vibrant Retailers Number of shopping centers 354 % of % of Credit Ratings Top Retailers by ABR Stores ABR GLA (S&P / Moody’s) Gross leasable Area (“GLA”) 63M SF 88 3.2% 4.0% A / A2 Average shopping center size 179K SF 45 2.3%
Slide 4: Value-Add Leader in the Open-Air Retail Space
Value-Add Leader in the Open-Air Retail Space Transformed portfolio Value creation Highly visible driving through accretive forward growth outperformance reinvestment Delivering sustainable Prudent capital Strong, flexible growth in a recycling balance sheet responsible manner Page 4
Slide 5: Transformed Portfolio Driving Outperformance
Transformed Portfolio Driving Outperformance
Slide 6: Transformed Portfolio Driving Outperformance: 3Q25 Highlights
Transformed Portfolio Driving Outperformance: 3Q25 Highlights 94.1% $18.48 $25.85 $26.55 Total leased In-place New lease New lease occupancy ABR PSF ABR PSF NER Record high Record high Record high 91.4% $29.16 $22M $60M Small shop leased Small shop in-place ABR Signed but not yet occupancy ABR PSF c
Slide 7: Transformed Portfolio Driving Outperformance: Substantial Enhancement
Transformed Portfolio Driving Outperformance: Substantial Enhancement Our focused plan has driven a 45% increase in in-place ABR PSF At 12/31/2015 At 9/30/2025 Change Increasing ABR Exposure With Thriving Retailers Properties 518 354 (164) GLA (SF) 87M 63M (-24M) Number of CBSAs 173 100 (73) Percent
Slide 8: Highly Visible Forward Growth
Highly Visible Forward Growth
Slide 9: Highly Visible Forward Growth: Embedded Tailwinds
Highly Visible Forward Growth: Embedded Tailwinds Tailwinds From Executed Leasing • Commenced $67M of ABR in TTM • $60M of ABR from 2.7M SF of signed but not yet commenced leases (SNC) at $22.30 PSF, 21% above portfolio average 1 Expected Timing of Leases SNC ($M) 1 Leases SNC As a Percent of Total
Slide 10: Highly Visible Forward Growth: Continued Momentum
Highly Visible Forward Growth: Continued Momentum Mark-To-Market Opportunity Occupancy Opportunity • Attractive rent basis due to historic portfolio under-investment • Positioned for continued occupancy growth – TTM new lease spreads of 39%, renewal spreads of 14%, and total • Reinvestment activity
Slide 11: Highly Visible Forward Growth: Low Risk Path Of Opportunity
Highly Visible Forward Growth: Low Risk Path Of Opportunity Long-Term Same Property NOI Growth Target* 2025E Same Property NOI Growth (mid-point) 1 ~150bps ~125 – 150bps Contractual Rent Growth Mark-to-Market Reflects in-place annual Reflects new, renewal, and contractual rent growth option lease sp
Slide 12: Highly Visible Forward Growth: Proactively Re-Leasing At Risk Tenant Space
Highly Visible Forward Growth: Proactively Re-Leasing At Risk Tenant Space • In the current supply constrained environment, recent retailer disruption creates a significant opportunity • Achieving outsized re-leasing spreads • Brixmor’s portfolio transformation, national tenant partnerships and prov
Slide 13: Value Creation Through Accretive Reinvestment
Value Creation Through Accretive Reinvestment
Slide 14: Value Creation Through Accretive Reinvestment: Continued Transformation
Value Creation Through Accretive Reinvestment: Continued Transformation • Brixmor’s reinvestment opportunity stands apart in terms of magnitude and velocity Number of Net Estimated Incremental NOI Projects Costs 1 Yield 2 and is primarily funded with free cash flow Stabilizations 312 $1.3B 10% YE 20
Slide 15: Value Creation Through Accretive Reinvestment: Disciplined Capital Allocation
Value Creation Through Accretive Reinvestment: Disciplined Capital Allocation Accretive Reinvestment Spend Declining Maintenance Capital • Robust reinvestment capabilities are driving accretive cash flow growth by • Expected reduction in ongoing maintenance spend given portfolio investing in existin
Slide 16: Value Creation Through Accretive Reinvestment: Barn Plaza – Philadelphia, PA
Value Creation Through Accretive Reinvestment: Barn Plaza – Philadelphia, PA Barn Plaza Multi-Phase Redevelopment Net Project Phase Project Start Status Description Costs 1 NOI Yield 2 Phase I Sep-2024 Stabilized Remerchandise of former anchor space with Whole Foods and Barnes & Noble and demolition
Slide 17: Value Creation Through Accretive Reinvestment: College Plaza – Long Island, NY
Value Creation Through Accretive Reinvestment: College Plaza – Long Island, NY • Redeveloped former Bob’s Stores and adjacent retail space with Burlington Stores • Remerchandised existing Blink Fitness with Five Below and Ulta • Construction of multiple outparcels including Chick-fil-A and Aspen Den
Slide 18: Value Creation Through Accretive Reinvestment: Projects Stabilized
Value Creation Through Accretive Reinvestment: 312 Projects Stabilized Florence Plaza-Square Middletown Plaza Beneva Village Shoppes Roosevelt Mall The Davis Collection Dalewood SC Cincinnati, OH New York, NY Sarasota, FL Philadelphia, PA Davis, CA Westchester, NY Barn Plaza Lompoc Center Collegetow
Slide 19: Prudent Capital Recycling
Prudent Capital Recycling
Slide 20: Prudent Capital Recycling: Rationalized Footprint
Prudent Capital Recycling: Rationalized Footprint Acquisition Strategy Clustering Strategy • $1.5B of attractive acquisitions completed since year-end 2015 Builds critical mass and further densifies the portfolio in attractive markets • Focusing on value-add transactions that leverage our platform
Slide 21: Prudent Capital Recycling: LaCenterra At Cinco Ranch – Houston, TX
Prudent Capital Recycling: LaCenterra At Cinco Ranch – Houston, TX • Acquired in July 2025 for $223M • ~409K SF grocery-anchored lifestyle center strategically located in an affluent master planned community in the western Houston, TX suburbs • The highly trafficked center with over 5M visits per ye
Slide 22: Prudent Capital Recycling: Clustering Assets With Value-Add Acquisitions
Prudent Capital Recycling: Clustering Assets With Value-Add Acquisitions Ravinia Plaza North Riverside Plaza Elmhurst Crossing Huron Village West Center Plymouth Square Acton Plaza Chicago, IL Chicago, IL Chicago, IL Ann Arbor, MI New York, NY Philadelphia, PA Boston, MA Brea Gateway Centennial Cent
Slide 23: Strong, Flexible Balance Sheet
Strong, Flexible Balance Sheet
Slide 24: Strong, Flexible Balance Sheet: Positioned To Fuel Growth
Strong, Flexible Balance Sheet: Positioned To Fuel Growth $1.6B 4.3% 4.8 years 100% 100% Available liquidity Weighted average Weighted average maturity Fixed rate debt Unencumbered ABR stated interest rate 5.6x 4.1x BBB / Stable Baa2 / Stable BBB / Stable Net principal debt to adjusted Fixed charge
Slide 25: Delivering Sustainable Growth In A Responsible Manner
Delivering Sustainable Growth In A Responsible Manner
Slide 26: Delivering Sustainable Growth In A Responsible Manner
Delivering Sustainable Growth In A Responsible Manner Experienced and effective Board of Directors Corporate Responsibility Recognition Received overall score of 71 (October 2025) Green Star Recipient (October 2025) 8/9 3/9 2/9 “A” rating for Public Disclosure (October 2025) Independent direct
Slide 27: Delivering Sustainable Growth in a Responsible Manner: Environmental
Delivering Sustainable Growth in a Responsible Manner: Environmental Reducing utility-related operational expenses and adding ancillary income, Sustainability Goals while improving resource resiliency and environmental efficiency Target Status 1 • Energy usage reduction projects • Water conservation
Slide 28: Delivering Sustainable Growth in a Responsible Manner: Community Connectivity
Delivering Sustainable Growth in a Responsible Manner: Community Connectivity • Thoughtfully merchandising our properties with non-discretionary and value-oriented retailers, as well as Center-Specific Art consumer-oriented service providers We offer exterior wall space at select centers as canvases
Slide 29: Footnotes & Sources
Footnotes & Sources Page 2 Overview: High Quality, Diversified, Open-Air Retail Portfolio Page 11 Highly Visible Forward Growth: Low Risk Path Of Opportunity 1. Based on most recent tenant reported information. 1. Peer average includes IVT, KIM, KRG, PECO, and REG (excluding termination fees). Page