Slide 1: Brixmor Property Group Investor Presentation
Brixmor Property Group Investor Presentation Quarter Ended June 30, 2022 Center of Bonita Springs | Naples, Florida
Slide 2: Brixmor Overview
Brixmor Overview Portfolio Quick Facts High quality, diversified, open-air retail portfolio Number of shopping centers 379 GLA 67M SF ❯ One of the largest open-air retail landlords in the US Average shopping center size 177K SF o Nationally diversified portfolio of 379 shopping centers in 116 MSAs f
Slide 3: Value-Add Leader in the Open-Air Retail Space
Value-Add • Transformed portfolio uniquely positioned for outperformance Leader in the • Demonstrated value creation through Open-Air accretive reinvestment Retail Space • Prudent capital recycling track record • Strong, flexible balance sheet Page 3
Slide 4: Transformed Portfolio Uniquely Positioned For Outperformance
Transformed Portfolio Uniquely Positioned For Outperformance
Slide 5: Transformed Portfolio Uniquely Positioned For Outperformance
Transformed Portfolio Uniquely Positioned For Outperformance Substantial portfolio enhancement achieved since year-end 2015 Leasing, value-enhancing reinvestment activity, and prudent capital recycling have driven a 25% increase in ABR PSF At At 12/31/2015 6/30/2022 Rationalized Portfolio Footprint
Slide 6: Significant outperformance throughout the Pandemic
Transformed Portfolio Uniquely Positioned For Outperformance Significant outperformance throughout the Pandemic Same Property NOI Growth 1 New Lease Spreads 2 In-Place ABR PSF Change 3 2019 2020 2021 1H 2022 2020 2021 1H 2022 Runway for Continued Growth BRX Peer Average Implied Total 35.0% +7.9% +5.
Slide 7: Portfolio transformation driving continued outperformance
Transformed Portfolio Uniquely Positioned For Outperformance Portfolio transformation driving continued outperformance across every observable metric Leasing Highlights 2Q22 87.7% $26.08 34.3% $16.58 Small shop occupancy Small shop new lease ABR PSF New lease spread TTM new lease net effective rent
Slide 8: Clear visibility on continued growth
Transformed Portfolio Uniquely Positioned For Outperformance Clear visibility on continued growth Mark-to-Market Opportunity Tailwinds From Executed Leasing ❯ Attractive rent basis due to historic portfolio under-investment and under- ❯ Leased to billed occupancy spread of 350 basis points managemen
Slide 9: Significant remaining occupancy opportunity
Transformed Portfolio Uniquely Positioned For Outperformance Significant remaining occupancy opportunity BRX occupancy has ample runway for growth ❯ Positioned to continue to grow occupancy by capitalizing on robust, broad based leasing demand BRX billed to leased spread of 350bps o Competitive anch
Slide 10: Vibrant new retailers added over the last three years
Transformed Portfolio Uniquely Positioned For Outperformance Vibrant new retailers added over the last three years Page 10
Slide 11: Thriving retailers continue to highlight brick and mortar
Transformed Portfolio Uniquely Positioned For Outperformance Thriving retailers continue to highlight the importance of brick and mortar Physical Grocery Positioned For Shifting Economies The Store Is The Competitive Advantage “There are few locations more central to our lives than grocery stores. W
Slide 12: Value Accretive Capital Allocation
Value Accretive Capital Allocation
Slide 13: Strategic Investments and Funding Sources
Value Accretive Capital Allocation Strategic Investments Funding Sources ❯ Reinvestment pipeline ❯ >$100M of annual free cash flow ❯ Prudent acquisitions ❯ $1.2B of available liquidity ❯ Stock repurchase program ❯ Disciplined execution of dispositions ❯ ATM program Track record of delivering attract
Slide 14: Creating value at lower risk
Value Accretive Capital Allocation Creating value at lower risk Creating value Highly accretive returns ❯ Brixmor’s reinvestment opportunity stands apart in terms of magnitude and velocity Incremental follow-on growth Cap rate compression on Stabilizations Long-term value In process incrementa
Slide 15: Reinvestment is a value multiplier
Value Accretive Capital Allocation Reinvestment is a value multiplier Maximum value creation Strong incremental Follow-on growth in Cap rate compression returns occupancy and rate Representative Representative Redevelopment vs. Redevelopment Small Shop BRX Redevelopment Ground-up Ground-up Only Deve
Slide 16: Value delivered: Case study, Tinley Park Plaza
Value Accretive Capital Allocation Value delivered: Case study Tinley Park Plaza | Chicago, IL $17M 15% ~$26M invested1 incremental NOI yield2 value created3 › Demolish 80K SF of structurally obsolescent anchor space to accommodate the construction of Amazon Fresh, Burlington Stores, and additional
Slide 17: Reinvestment expertise: Over 200 projects stabilized
Value Accretive Capital Allocation Reinvestment expertise: Over 200 projects stabilized Annex of Arlington I Arlington Heights, IL Page 17
Slide 18: Disciplined capital recycling
Value Accretive Capital Allocation Disciplined capital recycling Acquisitions Dispositions ❯ Selective acquisitions of high-quality shopping centers from ❯ Rationalizing the portfolio and harvesting capital where value has identified target list been maximized o Leveraging the platform to drive grow
Slide 19: Maximizing value through acquisitions in established markets
Value Accretive Capital Allocation Maximizing value through acquisitions in established markets that leverage Brixmor’s proven platform Centennial Center Champlin Marketplace Ravinia Plaza North Riverside Plaza Elmhurst Crossing Arborland Center Plymouth Square Denver, CO Minneapolis, MN Chicago, IL
Slide 20: Strong, Flexible Balance Sheet
Strong, Flexible Balance Sheet
Slide 21: Balance sheet provides critical financial and operational flexibility
Strong, Flexible Balance Sheet Balance sheet provides critical financial and operational flexibility Capitalization & Ratios (at 6/30/22) Debt Statistics ❯ Substantial liquidity and capacity Weighted avg. stated interest rate 3.7% Weighted avg. maturity 5.4 years o $1.2B of liquidity Fixed / Variabl
Slide 22: Purpose-Driven Commitment To Environmental, Social, And Governance Issues
Purpose-Driven Commitment To Environmental, Social, And Governance Issues
Slide 23: Corporate Responsibility
Purpose-Driven Commitment To ESG Issues Corporate Responsibility Board of • Oversees our Corporate Responsibility (CR) and Environment, Social, and Recognition Governance (ESG) initiatives through the Nominating and Corporate Governance Directors Committee (NCGC) o 67% of board members have expertis
Slide 24: Tenant partnerships and supplier and vendor relationships
Purpose-Driven Commitment To ESG Issues Tenant partnerships and supplier and vendor relationships Tenant Partnerships Supplier and Vendor Relationships › We support over 5,000 national and regional tenants and local entrepreneurs › We partner with ~3,000 suppliers and vendors who share our passion f
Slide 25: Sustainability Goals
Purpose-Driven Commitment To ESG Issues Sustainability Goals Environmental responsibility Target Status 1 Install electric vehicle 25% 11% Reducing environmental impact charging stations by 2025 (% of portfolio) ❯ Driving energy efficiency: LED lighting, motion sensor ❯ Minimizing water consumption:
Slide 26: Community Outreach
Purpose-Driven Commitment To ESG Issues Community Outreach Community connectivity Artistic Connection James Island, SC • During renovations at Island Plaza in James Island, SC, David ❯ Thoughtfully merchandising our centers to meet the needs of the communities we serve Carpio, Senior Property Manage
Slide 27: Human capital management
Purpose-Driven Commitment To ESG Issues Human capital management – creating and sustaining a positive work environment Engagement Development Health and Well-being Promoting a supportive and inclusive environment that Encouraging growth through professional and Supporting employee health through enc
Slide 28: Diversity, Equity, and Inclusion (DEI)
Purpose-Driven Commitment To ESG Issues Diversity, Equity, and Inclusion (DEI) Diversity, equity, and inclusion Leadership Council • Reports directly to We believe our success is driven by an inclusive environment that reflects the diversity CEO and is supported of the communities we serve and we ad
Slide 29: Corporate governance and Board of Directors
Purpose-Driven Commitment To ESG Issues Experienced, diversified and effective Board of Corporate governance Directors 8/9 1/3 1/9 Independent Female Directors African American Leading the industry Directors Directors Ranked second in REIT sector for Corporate Governance* 61 years 6 years >75% Avera
Slide 30: Select 2021 ESG performance indicators
Purpose-Driven Commitment To ESG Issues Select 2021 ESG performance indicators Reducing Our Impact Building A Stronger Brixmor Positioned For Growth GHG Emissions (tonnes CO2e) 2020 2021 99% 67% Of Board members have expertise in corporate Scope 1 GHG emissions 3,772 3,724 Of employees feel proud to
Slide 31: Additional Information
Additional Information
Slide 32: REITs: General information and fundamentals
REITs General information and fundamentals What is a REIT? A REIT, or Real Estate Investment Trust, is a company that owns, operates or finances income-producing real estate. Modeled after mutual funds, REITs give all investors access to the benefits of real estate investment along with the advantag
Slide 33: Footnotes & Sources
Footnotes & Sources Page 2 Brixmor Overview Page 8 Transformed Portfolio Uniquely Positioned For Outperformance High quality, diversified, open-air retail portfolio Clear visibility on continued growth 1. By ABR. Community Centers include properties with total GLA between 125K - 400K SF. Neighborhoo