Kite Realty Group Trust · NYSE:KRG
Kite Realty Group Trust — Q2 2026 Earnings Presentation
26 slides from Kite Realty Group Trust's earnings presentation, Jul 30, 2026
Slide 1: Investor Update Q2 2026
Investor Update Q2 2026 © 2026 Kite Realty Group | kiterealty.com
Slide 2: KRG Overview
Q2 2026 INVESTOR UPDATE 2 Note: Unless otherwise indicated, the source of all Company data is publicly available information that has been or will be filed with the Securities and Exchange Commission for the period ending June 30, 2026. 1. As of July 29, 2026 2. Assets with a grocery component inclu
Slide 3: KRG's Strategic Advantages
Q2 2026 INVESTOR UPDATE 3 KRG’s Strategic Advantages Best-in-Class Operating Platform Operating margins and metrics are among the best in the open-air retail sector Management team has deep experience operating open-air real estate High-Quality Sun Belt Portfolio Primarily concentrated in Sun Belt m
Slide 4: Q2 2026 Commentary
Q2 2026 INVESTOR UPDATE 4 Q2 2026 COMMENTARY NAREIT FFO $0.53 Driven by strong same property NOI growth Core FFO $0.52 Consistent with NAREIT FFO, excluding non-cash items Same Property NOI Growth 3.7% Driven by improvements in base rent, favorable leasing spreads, and occupancy increases Total Leas
Slide 5: 2026 Guidance
Q2 2026 INVESTOR UPDATE 5 2026 Guidance 2026 NAREIT AND CORE FFO GUIDANCE LOW HIGH Net income $1.02 $1.08 Gain on sales of operating properties, net (0.42) (0.42) Gain on deconsolidation of joint venture (0.29) (0.29) Impairment charges 0.03 0.03 Depreciation and amortization 1.72 1.72 NAREIT FFO $2
Slide 6: Diverse Portfolio of Durable Cash Flow
Q2 2026 INVESTOR UPDATE 6 Note: Remaining percentage of KRG’s portfolio is unanchored, standalone office, or single-tenant assets. Diverse Portfolio of Durable Cash Flow Lifestyle / Mixed-UsePower Centers Regional Community Centers (≥ 200,000 Owned GLA) Neighborhood Centers & Local Community Centers
Slide 7: Average ABR Growth and Conversion Stats on Leasing Activity
Q2 2026 INVESTOR UPDATE 7 AVERAGE ABR GROWTH – NEW LEASES AND NON-OPTION RENEWALS YTD 2026 2025 2024 2023 2022 Shops (< 10K Square Feet) 3.3% 3.4% 3.5% 3.0% 2.7% Anchors (> 10K Square Feet) 1.4% 1.3% 1.3% 1.1% 0.9% Total 2.8% 2.7% 2.9% 2.5% 2.2% CONVERSION STATS ON LEASING ACTIVITY – NEW LEASES AND
Slide 8: Improving the Cruising Speed
Q2 2026 INVESTOR UPDATE 8 156 bps 164 bps 167 bps 166 bps 168 bps 171 bps 178 bps 180 bps 182 bps 185 bps Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 • KRG has improved its “cruising speed” by 29 basis points since the beginning of 2024 • KRG’s cruising speed is e
Slide 9: Grocer Demand Across the Portfolio
Q2 2026 INVESTOR UPDATE 9 Property Center Type Previous Tenant Grocer Addition Centre at Laurel Community Gateway Plaza Power Pelham Manor Shopping Plaza Community Fort Evans Plaza II Community Two Shop Spaces Huebner Oaks Lifestyle / Mixed-Use Indian River Square Community Woodinville Plaza Communi
Slide 10: Components of Signed-Not-Open Pipeline
Q2 2026 INVESTOR UPDATE 10 Components of Signed-Not-Open Pipeline • Leased-to-occupied spread at period end (350 bps) is expected to remain elevated due to strong leasing demand • The signed-not-open (SNO) pipeline increased $1.3M quarter-over-quarter to $37.3M as a result of new leases signed in th
Slide 11: Reappreciation of Open-Air Retail
Q2 2026 INVESTOR UPDATE 11 Reappreciation of Open-Air Retail • Declining retail supply in the U.S. has been a driver for retail leased rates as retailers have realized the importance of their brick-and-mortar footprint • 15+ years of limited supply growth have resulted in record-high leased rates fo
Slide 12: Balance Sheet Snapshot
Q2 2026 INVESTOR UPDATE 12 Note: Source of all peer data is from 2Q 2026 supplemental disclosures, except KIM and FRT data is from 1Q 2026 supplemental disclosures 1. Includes $276.0 million of the Company’s share of unconsolidated JV debt. Fixed rate debt includes the portion of variable rate debt
Slide 13: Well-Staggered Maturity Ladder
Q2 2026 INVESTOR UPDATE 13 Well-Staggered Maturity Ladder $32 $4 $6 $3 $400 $250 $100 $100 $400 $350 $300 $350 $250 $300 $10 $193 $73 4.02% 2.24% 4.42% 3.84% 4.61% 4.93% 5.19% 5.36% 4.60% -5.00% -3.00% -1.00% 1.00% 3.00% 5.00% 7.00% 9.00% $- $200 $400 $600 $800 $1,000 2026 2027 2028 2029 2030 2031 2
Slide 14: High-Quality Portfolio
Q2 2026 INVESTOR UPDATE 14 High-Quality Portfolio One Loudoun Washington D.C. MSA
Slide 15: Predominantly Sun Belt with Strategic Gateway Components
Q2 2026 INVESTOR UPDATE 15 1. Source: US Census Bureau, Vintage 2025 Population Estimates from July 1, 2024 to July 1, 2025. Top 15 states include SC, ID, NC, TX, UT, DE, WA, AZ, NV, TN, GA, SD, FL, ND, and VA 2. 3-mile demographic statistics are weighted by Q2 2026 ABR and sourced from PopStats. To
Slide 16: Portfolio Needle-Movers
Q2 2026 INVESTOR UPDATE 16 Portfolio Needle-Movers 1. Represents weighted average from the three properties compared to KRG’s portfolio average of 185 basis points as of June 30, 2026. 2. Includes residential units and hotel rooms currently contemplated in development plans as previously disclosed.
Slide 17: Anchor Leasing Update
Q2 2026 INVESTOR UPDATE 17 Anchor Leasing Update Solid Returns & Stronger Tenants 1. Includes only comparable leases (40 of 61). 2. Represents the estimated total potential new NOI divided by the cost of executing such leases. These numbers are based on Management's estimates and assumptions, and th
Slide 18: Top 15 Tenants by ABR
Q2 2026 INVESTOR UPDATE 18 1. Number of stores represents stores at consolidated and unconsolidated properties. 2. Percent of weighted ABR includes ground lease rent and represents the Company’s share of the ABR at consolidated and unconsolidated properties. TOP 15 TENANTS BY ABR STORE COUNT1 % OF W
Slide 19: Composition of Retail Tenant Base
Q2 2026 INVESTOR UPDATE 19 57%43% TOTAL PORTFOLIO COMPOSITION (% of Retail Wtd. ABR as of Q2 2026) Discount Retailers 24% Grocery / Big Box Wine & Spirits 24% Home Furnishings 7% Fitness 6% Office Supply / Electronics 5% Pet Stores 5% Sporting Goods 5% Arts & Crafts 4% Other 20% Composition of Retai
Slide 20: Big Names. Small Spaces.
Q2 2026 INVESTOR UPDATE 20 Big Names. Small Spaces. KEY NEW SHOP TENANTS RECENTLY SIGNEDKEY TOP 50 SHOP TENANTS (by ABR) Pairing Established Small Shop Tenants With Newer Retail Concepts 97% National Brands ~700 Stores 28% Of Small Shop ABR 14% Of Portfolio ABR Top 50 Small Shop Tenants (< 10K Squar
Slide 21: Disclaimer: Forward-Looking Statements
Q2 2026 INVESTOR UPDATE 21 Disclaimer Forward-Looking Statements This Investor Update, together with other statements and information publicly disseminated by us, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securi
Slide 22: Net Operating Income and Same Property Net Operating Income
Q2 2026 INVESTOR UPDATE 22 NET OPERATING INCOME AND SAME PROPERTY NET OPERATING INCOME The Company uses NOI, a non-GAAP financial measure, to evaluate the performance of our properties. The Company also uses total property NOI, which is defined as NOI plus net gains from outlot sales. The Company de
Slide 23: EBITDA
Q2 2026 INVESTOR UPDATE 23 EBITDA The Company defines EBITDA, a non-GAAP financial measure, as net income before interest expense, income tax expense of the taxable REIT subsidiaries, and depreciation and amortization. For informational purposes, the Company also provides Adjusted EBITDA, which it d
Slide 24: Appendix: Reconciliation of Same Property NOI to Net Income
Q2 2026 INVESTOR UPDATE 24 Appendix: Reconciliation of Same Property NOI to Net Income TW – 7/28 Kite Realty Group Same Property Net Operating Income (“NOI”) (dollars in thousands) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 Change 2026 2025 Change Number of propertie
Slide 25: Appendix: NAREIT and Core Funds from Operations
Q2 2026 INVESTOR UPDATE 25 Appendix: NAREIT and Core Funds from Operations TW – 7/28 Kite Realty Group NAREIT Funds From Operations (“FFO”)(1) (dollars in thousands, except per share amounts) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net income $ 165,530 $
Slide 26: Appendix: Reconciliation of EBITDA to Net Income
Q2 2026 INVESTOR UPDATE 26 Appendix: Reconciliation of EBITDA to Net Income TW – 7/28 Kite Realty Group Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) (dollars in thousands) (unaudited) Three Months Ended June 30, 2026 Net income $ 165,530 Depreciation and amortization 81,
Kite Realty Group Trust — Q2 2026 Earnings Presentation on 6ix