SITE Centers : Capital One Securities REIT Conference 2022 Presentation

SCapitalI T E E N T E R S One Securities

REIT Conference

J A N U A R Y 2 0 2 2

S A F E H A R B O R S TAT E M E N T

SITE Centers Corp. considers portions of the information in this press release to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Company's expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially from those indicated by such forward-looking statements, including, among other factors, the impact of the COVID-19 pandemic on the Company's ability to manage its properties and finance its operations and on tenants' ability to operate their businesses, generate sales and meet their financial obligations, including the obligation to pay rent; the Company's ability to pay dividends; local conditions such as the supply of, and demand for, retail real estate space in the area; the impact of e-commerce; dependence on rental income from real property; the loss of, significant downsizing of or bankruptcy of a major tenant and the impact of any such event on rental income from other tenants and our properties; redevelopment and construction activities may not achieve a desired return on investment; our ability to buy or sell assets on commercially reasonable terms; our ability to complete leases under negotiation and acquisitions or dispositions of assets under contract; our ability to secure equity or debt financing on commercially acceptable terms or at all; impairment charges; our ability to enter into definitive agreements with regard to our financing and joint venture arrangements and the Company's ability to satisfy conditions to the completion of these arrangements; valuation and risks relating to our joint venture investments; the termination of any joint venture arrangements or arrangements to manage real property; property damage, expenses related thereto and other business and economic consequences (including the potential loss of rental revenues) resulting from extreme weather conditions or natural disasters in locations where we own properties, and the ability to estimate accurately the amounts thereof; sufficiency and timing of any insurance recovery payments related to damages from extreme weather conditions or natural disasters; any change in strategy; our ability to maintain REIT status; and the finalization of results for the period ending December 31, 2021. For additional factors that could cause the results of the Company to differ materially from those indicated in the forward-looking statements, please refer to the Company's most recent reports on Form

10-K and Form 10-Q. The impacts of the COVID-19 pandemic may also exacerbate the risks described therein, any of which could have a material effect on the Company. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

In addition, this presentation includes certain non-GAAP financial measures. Non-GAAP financial measures should not be considered replacements for, and should be read together with, the most comparable GAAP measures. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures can be found in the Company's quarterly financial supplement located at www.sitecenters.com/investors.

S I T E C E N T E R S

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P O R T F O L I O T R A N S F O R M AT I O N
		63	LEGACY
				90% OF TENANTS ARE
				NATIONAL BY ABR
				• 62 of top 100 (52%+ of ABR) public
		9	BLACKSTONE JV	• ~25% of ABR investment grade
		ACQUISITIONS	• New concept growth across
				multiple unit sizes
				CONCENTRATED IN
	81			AFFLUENT SUBMARKETS
373	6 ACQUIRED	• Average HHI of $107K
vs. $65K nationally
• 2.4% 5-year population growth
		vs. 1.2% national average
WHOLLY- OWNED				• $502K average home price vs.
WHOLLY- OWNED			$404K MSA average
PROPERTIES
(4Q08)	PROPERTIES (3Q21)	2		SOCIETAL SHIFTS PROVIDING
		MADISON JV
		TAILWIND TO GROWTH
			ACQUISITIONS

	As of December 31, 2008					• Work-from-home increasing
			As of September 30, 2021						traffic
								• Urban to suburban shift
					1	DDR DOMESTIC			increasing land scarcity
			RETAIL FUND I

S I T E C E N T E R S

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K E Y 4 Q 2 1 O P E R AT I O N A L TA K E AWAY S

Focused portfolio located in the wealthiest sub-markets of the U.S.

81 WHOLLY-OWNED PROPERTIES WITH AVERAGE HOUSEHOLD INCOME OF $107K (87TH PERCENTILE)1

OPERATIONS OVERVIEW

LEASING ACTIVITY REMAINS

ROBUST

• Highest level of quarterly new leasing activity in 4 years despite smaller asset base
• 40bp sequential increase in leased rate from 3Q21 to 92.7% (transaction activity had a 30bp negative impact)
• 8 anchors signed in 4Q21 bringing YTD total to 27

1. As of September 30, 2021

ELEVATED SNO & PIPELINE TO DRIVE FUTURE GROWTH

• Signed Not Opened (SNO) ABR pipeline up to $15M at year end from $12M at 3Q21
• 18 additional anchors in negotiation

TENANT BALANCE SHEETS STRONGER VS. 2019

• SITE Centers' 62 largest public tenants (52% of base rent) increased EBITDA 28% from 2019 and reduced net debt by 12%
• 38 of top 100 tenants raised $84B in 2020 and 2021
• Tenants utilizing excess liquidity and capital to launch new concepts and grow store fleets

S I T E C E N T E R S

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C O M PA N Y - W I D E C O M M I T M E N T T O E S G L E A D E R S H I P

S I T E C E N T E R S I S C O M M I T T E D T O T R A N S P A R E N C Y A R O U N D

O U R E N V I R O N M E N TA L , S O C I A L , A N D G O V E R N A N C E G O A L S

Community

C O R P O R A T E	C H A R I T A B L E
G I V I N G	G I V I N G
$35k	225

GREEN STAR RATED

People

		W E L L N E S S
T R A I N I N G	S C H O L A R S H I P	P R O G R A M

Corporate

Governance

B O A R D O FS T A K E H O L D E R

D I R E C T O R SE N G A G E M E N T

EMPLOYEE GIFT	MEALS DONATED TO
MATCHING	FIRST RESPONDERS
	DURING THE
	PANDEMIC
$174k	$3.5k
DONATED TO	RAISED FOR SAN
CHARITABLE ORGS	ANTONIO HUMANE
	SOCIETY

21	5	3ksf
AVG TRAINING HRS	2021 SCHOLARSHIP	FULL - SERVICE
PER EMPLOYEE	RECIPIENTS	FITNESS CENTER
7.2k	$25k	260
TOTAL TRAINING	TOTAL AWARDED	FITNESS CLASSES
HOURS	IN 2021	HELD INCLUDING
		VIRTUAL

7

INDEPENDENT

MEMBERS ( 8 8 % )

3

WOMEN

( 3 8 % )

During 2020, the Company engaged with each of our stakeholders in different capacities. The level and nature of the engagement is based on the specific operational relationship with the stakeholder.

272	$40k
EMPLOYEE	IN TOY DONATIONS
HOURS SPENT	RAISED FOR FAMILIES
VOLUNTEERING	IN NEED IN S . FLORIDA

50	135
TOTAL SCHOLARSHIPS	EMPLOYEES
AWARDED OVER LIFE	PARTICIPATING
OF THE PROGRAM

5

MEN

( 6 2 % )

Note: All figures as of 2020.

S I T E C E N T E R S

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