Inventrust Properties Corp. · NYSE:IVT

Inventrust Properties — Investor Presentation (May 2023)

34 slides from Inventrust Properties's investor presentation, May 19, 2023

  1. Slide 1: Investor Presentation Q1 2023

    “*» Inventrust ee Nxt ed Properties INVESTOR PRESENTATION Q1 2023

  2. Slide 2: Introductory Notes

    Introductory Notes Inventrust Pr P rtie Cautionary Note About Forward-Looking Statements 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. Forward-looking stateme

  3. Slide 3: Overview

  4. Slide 4: 5.0X-6.0X 25%-35% $1.59-$1.64 3.5%-5.0% 10.3M 166K 5% 87%

    62 5.0X-6.0X 25%-35% $1.59-$1.64 3.5%-5.0% 4 10.3M 166K 78 95% 87%

  5. Slide 5: Sun Belt Markets Poised For Growth

    Inventru f erties Sun Belt Markets Poised enti a | Rez High-Performing, Grocery- For Growth ie a " Anchored Portfolio + Sector-leading Sun Belt concentration of 95% + Attractive demographic trends - Jobs, + 87% of NOI derived from centers with a grocery presence + Essential retail tenants drive recu

  6. Slide 6: 96.1% $19.12 95% 7% 98.8% 91.4% 5.5x 28% $436M $0.86 3.2%

    6 96.1% $19.12 95% 7% 98.8% 91.4% 5.5x 28% $436M $0.86 3.2%

  7. Slide 7: Portfolio

    © Portfol

  8. Slide 8: Sun Belt market footprint

    Southern CA San Antonio Austin Dallas/Fort Worth/ Arlington Houston Atlanta Tampa/Fort Myers Miami/Fort Lauderdale/ West Palm Beach Orlando Charlotte Raleigh / Durham DC Metro / Richmond 8

  9. Slide 9: Top U.S. Growth Markets: InvenTrust Markets Are Corporate Magnets

    Inventrust Properti: TOP U.S. GROWTH MARKETS : InvenTrust Markets Are Corporate Magnets' Estimated Annualized ° M-RevPAF Growth ‘23 to ‘27? Nashville F t } $ a 5 9) a 3.6% @RIVIAN 9 % AERCAP SEIS ro Charlotte me NS iD) BLOCKTOWER Bad CITADEL MSA CENTER FAVORABLE Salt Lake Cty PROFILE PROFILE 3-MILE

  10. Slide 10: Necessity-Based Centers Continue to Thrive

    + Necessity-Based Centers Continue to Thrive InvenTrust Properties Last-Mile Solution + Local properties - critical & attractive Essen ial Retail 63 dottipanentin the lastinile solution Consumer goods and services that oe) + Curbside pickup & BOPIS programs satisfy needs for day-to-day living more e

  11. Slide 11: Portfolio by center type

    Neighborhood Center Trade Area 1-3 mi. Community Center Trade Area 3-5 mi. Power Center w/Grocer Trade Area 5-10 mi. Power Center w/out Grocer Trade Area 5-10 mi. + 36 properties + 14 properties + 8 properties 4 properties + 3.6MGLA + 3.1MGLA + 2.2MGLA 1.4MGLA Average TAP score of 75 + Average TAP s

  12. Slide 12: Top 15 Tenants and ABR mix

    Inventrust Properti: 7 of our top 15 tenants are grocer e traffic to our centers TOP 15 TENANTS % OF ABR # Tenant Credit Rating (S&P) fof Leases % of ABR Essential Retail 59.9% 1 Kroger BBB 141 49 Grocery / Drug 19.6 5 fe) uU b | i X WA 152 36 Health & Beauty Services Wa Medical 9.0 A 1 24 ca |). oe

  13. Slide 13: Historical leased occupancy and re-leasing spreads

    HISTORICAL LEASED RECENTLY EXECUTED OCCUPANCY LEASES 96.1% 96.1% Anenaes 94.7% e 93.9% Pp) Total A Wine 22.5% eublix. pOpshelf % x84 Marshalls 2019 2020 2021 2022 Q1 2023 soe ee COMPARABLE HomeGoods RE-LEASING SPREADS (Blended) Small Shop 8% ee 7% SEPHORA HAND+ STONE se) crumbl @ cookies one DONT US

  14. Slide 14: Redevelopment and development projects

    SOUTHERN PALM CROSSING - Miami, FL CYFAIR TOWN CENTER - Cypress, ™ PRE-DEVELOPMENT (15 Projects) Status: Active Status: Status: Pre-Development Estimated Completion: 2023 Estimated Completion: 2023 Estimated Completion: 2023+ Project Description: Redevelopment of a Project Description: Facade renova

  15. Slide 15: Acquisition Strategy

    Acquisition Strategy

  16. Slide 16: Recent Acquisitions in Sun Belt Markets

    # Recent Acquisitions in Sun Belt Markets ESCARPMENT VILLAGE MSA: Austin, TX THE SHOPS AT ARBOR TRAILS MSA: Austin, TX BAY LANDING MSA: Fort Myers, FL — S as EASTFIELD VILLAGE MSA: Charlotte, NC + Purchased 2022 + ABRPSF - $21.48 H-E-B anchored 100% leased occupancy 3-mile Avg. HHI - $144,200 3-mile

  17. Slide 17: Acquisition of remaining JV assets

    Inventrust Proper ial PGGm E. y STONE RIDGE BAY BLACKHAWK CYFAIR STABLES — MARKET? COLONY TOWN CENTER TOWN CENTER TOWN CENTER | TOTAL/WEIGHTED AVERAGE MSA San Antonio Houston Houston Houston Houston Leased Occupancy 90.0% 93.0% 99.1% 92.3% 94.5% 93.0% GLA 219 416 127 433 148 1,343 ABR /SF* $23.65 $1

  18. Slide 18: Balance Sheet & 2023 Outlook

  19. Slide 19: Capital Market Highlights

    pital market Balance Sheet Highlights’: TOTAL MARKET CAPITALIZATION? Effective April 3, 2023, swapped $100M of floating rate debt to a fixed rate of 8% 3.69%, all-in rate at 4.99%? + Moving InvenTrust's fixed rate debt to 98% & pro forma weighted average interest rate to 3.9% Secured Debt + Investme

  20. Slide 20: Conservative and Well-Positioned Leverage Profile

    » Conservative and Well-Positioned Leverage Profile leverage business model NET DEBT-TO-ADJUSTED EBITDA’ InvenTrust go- forward target Net Debt to EBITDA range of 5.0x - 60x Peer Average : 6.1x Sp Iventiut Regency atime, te) 0 Kime = KIMco. BRIXMOR == ROIC RPT NET LEVERAGE RATIO (DEBT + PREFERRED AS

  21. Slide 21: Dividends as percentage of Core FFO

    Aggregate dividends declared as a percentage of Core FFO = 53%1 21

  22. Slide 22: 2023 Guidance

    • • • 22 $0.06 to $0.11 3.5% to 5.0% $1.59 to $1.64 $1.64 to $1.69

  23. Slide 23: Corporate Responsibility

    Ve els keside Crossing | Orlando, Fl J

  24. Slide 24: Corporate Responsibility Strategy

    / Corporate Responsibility Strategy Inventrust Propert We believe we are a committed and trusted business partner that focuses on building strong relationships with all our stakeholders with an approach grounded ina set of core principles: Transparency Openly connect with stakeholders by providing i

  25. Slide 25: Board of Directors

    Paula J. Saban Thomas F. Glavin Scott A. Nelson Amanda Black Stuart Aitken Daniel J. (DJ) Busch Julian E. Whitehurst Michael A. Stein Smita Shah 6/9 5/9 6/9 6/9 89% 33% 57 7 yrs 25

  26. Slide 26: Environmental, Social and Governance highlights

    hareho! Environmental Governance 100% of properties have energy management systems + InvenTrust named a“Top Workplace in Chicago"byThe + — InvenTrust places a strong emphasis on its governance installed Chicago Tribune in 2022 policies & practices including a robust internal control + 100% of landlo

  27. Slide 27: Appendix

    er a 4 ¢ Appendix ote

  28. Slide 28: Non-GAAP Measures and Definition of Terms

    Non-GAAP Measures and Definition of Terms Hventrust General In addition to measures prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP" measures), this presentation contains and refers to certain non-GAAP measures. We do not consider our non-G

  29. Slide 29: Same Property NOI

    29 Three Months Ended March 31 2023 2022 Income Minimum base rent $ 33,879 $ 32,124 Real estate tax recoveries 6,747 6,403 Common area maintenance, insurance, and other recoveries 5,875 5,627 Ground rent income 3,470 3,343 Short-term and other lease income 1,274 1,054 Provision for uncollectible bil

  30. Slide 30: Net income to NOI reconciliation

    30 Three Months Ended March 31 2023 2022 Net income $ 1,133 $ 9,501 Adjustments to reconcile to non-GAAP metrics: Other income and expense, net (447) 52 Equity in losses (earnings) of unconsolidated entities 663 (2,716) Interest expense, net 9,509 4,809 Loss on extinguishment of debt — 96 Depreciati

  31. Slide 31: EBITDA and Adjusted EBITDA reconciliation

    31 Three Months Ended March 31 2023 2022 Net income $ 1,133 $ 9,501 Interest expense, net 9,509 4,809 Income tax expense 126 82 Depreciation and amortization 26,758 22,829 Unconsolidated joint venture adjustments (a) 423 2,260 EBITDA 37,949 39,481 Adjustments to reconcile to Adjusted EBITDA Loss on

  32. Slide 32: FFO and Core FFO reconciliation

    32 Three Months Ended March 31 2023 2022 Net income $ 1,133 $ 9,501 Depreciation and amortization related to investment properties 26,543 22,622 Unconsolidated joint venture adjustments (a) 342 (465) NAREIT FFO Applicable to Common Shares and Dilutive Securities 28,018 31,658 Amortization of above a

  33. Slide 33: 2023 guidance reconciliation

    33 The following table provides a reconciliation of the range of the Company's 2023 estimated net income per diluted share to estimated NAREIT FFO and Core FFO per diluted share: (Unaudited) Low End High End Net income $ 0.06 $ 0.11 Depreciation and amortization related to investment properties 1.58

  34. Slide 34: Corporate and Investor Relations contacts

    INVENTRUST PROPERTIES CORP. (IVT) Investor Presentation IVT’s Quarter Supplemental IVT’S Complete 2021 ESG Report Corporate Office 3025 Highland Parkway | Suite 350 Downers Grove, IL 60515 630.570.0700 info@InvenTrustProperties.com Investor Relations 630.570.0605 InvestorRelations@InvenTrustProperti

InvenTrust Properties — Investor Presentation (May 2023) on 6ix