EPS: As of FY2025 Q3, the actual value is USD 0.58.

Segment Revenue

• Net Income Attributable to Common Shareholders for the three months ended September 30, 2025, was $106.0 million, or $0.58 per diluted share, compared to $98.1 million, or $0.54 per diluted share, for the same period in 2024.

Operational Metrics

• Nareit FFO for the three months ended September 30, 2025, was $213.5 million, or $1.15 per diluted share, compared to $195.1 million, or $1.07 per diluted share, for the same period in 2024.
• Core Operating Earnings for the three months ended September 30, 2025, was $202.6 million, or $1.09 per diluted share, compared to $187.8 million, or $1.03 per diluted share, for the same period in 2024.
• Same Property NOI, excluding termination fees, increased by 4.8% year-over-year.
• Same Property percent leased ended the quarter at 96.4%, an increase of 40 basis points year-over-year.
• Same Property percent commenced ended the quarter at 94.4%, up 190 basis points year-over-year.
• Executed 1.8 million square feet of comparable new and renewal leases during the quarter at blended rent spreads of +12.8% on a cash basis and +22.9% on a straight-lined basis.

Cash Flow

• Operating EBITDAre for the third quarter of 2025 was $266.5 million compared to $246.8 million for the same period in 2024.

Unique Metrics

• Started more than $170 million of new development and redevelopment projects in the quarter, bringing year-to-date total project starts to approximately $220 million.
• Acquired a portfolio of five shopping centers located within the Rancho Mission Viejo master planned community in Orange County, CA, for $357 million.
• Pro-rata net debt and preferred stock to TTM operating EBITDAre at September 30, 2025, was 5.3x.

Outlook / Guidance

• Raised 2025 Nareit FFO guidance to a range of $4.62 to $4.64 per diluted share and 2025 Core Operating Earnings guidance to a range of $4.39 to $4.41 per diluted share.
• The midpoint of increased 2025 Nareit FFO per share guidance represents more than 7% year-over-year growth.
• Raised 2025 guidance for Same Property NOI year-over-year growth, excluding termination fees, to a range of +5.25% to +5.5%.