Item 2.02
Disclosure of Results of Operations and Financial Condition
On October 28, 2025, Regency Centers Corporation ("Regency") issued an earnings release for the three and nine months ended September 30, 2025, which is attached as Exhibit 99.1.
On October 28, 2025, Regency posted on its website, at investors.regencycenters.com, certain supplemental information for the three and nine months ended September 30, 2025, which are attached as Exhibit 99.2 and Exhibit 99.3, respectively.REG Regency Centers Corp - 8-K
Accession
0001193125-25-2537992.027.019.01
Item 2.02 - Results of Operations and Financial Condition
Earnings press release attached as Exhibit 99.2.
Exhibit 99.2 - press release (19,969 words)
EX-99.2 3 reg-ex99_2.htm EX-99.2 Exhibit 99.2 Table of Contents September 30, 2025 Safe Harbor Language i Earnings Press Release ii Summary Information: Financial Results Summary 1 Real Estate Portfolio Summary 2 Financial Information: Consolidated Balance Sheets 3 Supplemental Details of Assets and Liabilities (Real Estate Partnerships Only) 4 Consolidated Statements of Operations 5 Supplemental Details of Operations (Consolidated Only) 6 Supplemental Details of Operations (Real Estate Partnerships Only) 7 Supplemental Details of Same Property NOI (Pro-Rata) 8 Reconciliations of Non-GAAP Financial Measures 9 Capital Expenditures and Additional Disclosures 10 Debt Information: Summary of Consolidated Debt 11 Details of Consolidated Debt 12 Summary of Unsecured Debt Covenants and Leverage Ratios 13 Summary of Unconsolidated Debt 14 Investments: Unconsolidated Real Estate Partnerships 15 Property Transactions 16 Summary of Developments and Redevelopments 17 Summary of In-Process Developments and Redevelopments 18 Real Estate Information: Leasing Statistics 19 New Lease Net Effective Rent and Leases Signed Not Yet Commenced 20 Annual Base Rent by State 21 Annual Base Rent by CBSA 22 Annual Base Rent by Tenant Category 23 Significant Tenant Rents 24 Tenant Lease Expirations 25 Additional Disclosures and Forward-Looking Information: Components of NAV 26 Earnings Guidance 27 Glossary of Terms 28 Note: Portfolio Summary Report now located within Selected Supplemental Pages excel posted on the Company's website at investors.regency.com S a fe Harbor Language September 30, 2025 Forward-Looking Statements Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to Regency’s future events, developments, or financial or operational performance or results such as our 2025 Guidance, are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as “may,” “will,” “could,” “should,” “would,” “expect,” “estimate,” “believe,” “intend,” “forecast,” “project,” “plan,” “anticipate,” “guidance,” and other similar language. However, the absence of these or similar words or expressions does not mean a statement is not forward-looking. While we believe these forward-looking statements are reasonable when made, forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance these expectations will be attained, and it is possible actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Our operations are subject to a number of risks and uncertainties including, but not limited to, those risk factors described in our Securities and Exchange Commission (“SEC”) filings, our Annual Report on Form 10-K for the year ended December 31, 2024 (“2024 Form 10-K”) under Item 1A, as supplemented by the discussion in Item 1A of Part II of our subsequent Quarterly Reports on Form 10-Q. When considering an investment in our securities, you should carefully read and consider these risks, together with all other information in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our other filings and submissions to the SEC. If any of the events described in the risk factors actually occur, our business, financial condition or operating results, as well as the market price of our securities, could be materially adversely affected. Forward-looking statements are only as of the date they are made, and Regency undertakes no duty to update its forward-looking statements, whether as a result of new information, future events or developments or otherwise, except as to the extent required by law. These risks and events include, without limitation: Risk Factors Related to the Current Economic and Geopolitical Environments Interest rates in the current economic environment may adversely impact our cost to borrow, real estate valuation, and stock price. Economic challenges and policy changes may adversely impact our tenants and our business. Unfavorable developments that may affect the banking and financial services industry could adversely affect our business, liquidity and financial condition, and overall results of operations. Current geopolitical challenges could impact the U.S. economy and consumer spending and our results of operations and financial condition. Evolving political and economic events and uncertainties, including tariffs, retaliatory tariffs, international trade disputes, and immigration policies could adversely impact the businesses of our tenants and our business. Risk Factors Related to Pandemics or other Public Health Crises Pandemics or other public health crises may adversely affect our tenants financial condition, the profitability of our properties, and our access to the capital markets and could have a material adverse effect on our business, results of operations, cash flows and financial condition. Risk Factors Related to Operating Retail-Based Shopping Centers Economic and market conditions may adversely affect the retail industry and consequently reduce our revenues and cash flow, and increase our operating expenses. Shifts in retail trends, sales, and delivery methods between brick-and-mortar stores, e-commerce, home delivery, and curbside pick-up may adversely impact our revenues, results of operations, and cash flows. Changing economic and retail market conditions in geographic areas where our properties are concentrated may reduce our revenues and cash flow. Our success depends on the continued presence and success of our “anchor” tenants. A percentage of our revenues are derived from “local” tenants and our net income may be adversely impacted if these tenants are not successful, or if the demand for the types or mix of tenants significantly change. We may be unable to collect balances due from tenants in bankruptcy. Many of our costs and expenses associated with operating our properties may remain constant or increase, even if our lease income decreases. Compliance with the Americans with Disabilities Act and other building, fire, and safety regulations may have a material negative effect on us. Risk Factors Related to Real Estate Investments Our real estate assets may decline in value and be subject to impairment losses which may reduce our net income. We face risks associated with development, redevelopment, and expansion of properties. We face risks associated with the development of mixed-use commercial properties. We face risks associated with the acquisition of properties. We may be unable to sell properties when desired because of market conditions. Changes in tax laws could impact our acquisition or disposition of real estate. Risk Factors Related to the Environment Affecting Our Properties Climate change may adversely impact our properties, some of which may be more vulnerable due to their geographic location, and may lead to additional compliance obligations and costs. Costs of environmental remediation may adversely impact our financial performance and reduce our cash flow. Risk Factors Related to Corporate Matters An increased focus on metrics and reporting related to environmental, social, and governance (“ESG”) factors by investors and other stakeholders may impose additional costs and expose us to new risks. An uninsured loss or a loss that exceeds the insurance coverage on our properties may subject us to loss of capital and revenue on those properties. Failure to attract and retain key personnel may adversely affect our business and operations. Risk Factors Related to Our Partnerships and Joint Ventures We do not have voting control over all of the properties owned in our real estate partnerships and joint ventures, so we are unable to ensure that our objectives will be pursued. The termination of our partnerships may adversely affect our cash flow, operating results, and our ability to make distributions to stock and unit holders. Risk Factors Related to Funding Strategies and Capital Structure Our ability to sell properties and fund acquisitions and developments may be adversely impacted by higher market capitalization rates and lower NOI at our properties which may adversely affect results of operations and financial condition. We depend on external sources of capital, which may not be available in the future on favorable terms or at all. Our debt financing may adversely affect our business and financial condition. Covenants in our debt agreements may restrict our operating activities and adversely affect our financial condition. Increases in interest rates would cause our borrowing costs to rise and negatively impact our results of operations. Hedging activity may expose us to risks, including the risks that a counterparty will not perform and that the hedge will not yield the economic benefits we anticipate, which may adversely affect us. Risk Factors Related to Information Management and Technology The unauthorized access, use, theft or destruction of tenant or employee personal, financial or other data, or of Regency's proprietary or confidential information stored in our information systems or by third parties on our behalf, could impact operations, and expose us to potential liabilities and material adverse financial impact. Any actual or perceived failure to comply with new or existing laws, regulations and other requirements relating to the privacy, security and processing of personal information could adversely affect our business, results of operations, or financial condition. The use of technology based on artificial intelligence presents risks relating to confidentiality, creation of inaccurate and flawed outputs and emerging regulatory risk, any or all of which may adversely affect our business and results of operations. Risk Factors Related to Taxes and the Parent Company’s Qualification as a REIT If the Parent Company fails to qualify as a REIT for federal income tax purposes, it would be subject to federal income tax at regular corporate rates. Dividends paid by REITs generally do not qualify for reduced tax rates. Certain non-U.S. stockholders may be subject to U.S. federal income tax on gain recognized on a disposition of our common stock if the Parent Company does not qualify as a “domestically controlled” REIT. Legislative or other actions affecting REITs may have a negative effect on us or our investors. Complying with REIT requirements may limit our ability to hedge effectively and may cause us to incur tax liabilities. Partnership tax audit rules could have a material adverse effect. Risk Factors Related to the Company’s Common Stock Restrictions on the ownership of the Parent Company’s capital stock to preserve its REIT status may delay or prevent a change in control. The issuance of the Parent Company's capital stock may delay or prevent a change in control. Ownership in the Parent Company may be diluted in the future. The Parent Company’s amended and restated bylaws provides that the courts located in the State of Florida will be the sole and exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees. There is no assurance that we will continue to pay dividends at current or historical rates. Supplemental Information i NEWS RELEASE For immediate release Kathryn McKie 904 598 7348 [email protected] Regency Centers Reports Third Quarter 2025 Results and Increases Common Stock Dividend JACKSONVILLE, Fla. (October 28, 2025) – Regency Centers Corporation (“Regency Centers,” “Regency” or the “Company”) (Nasdaq: REG) today reported financial and operating results for the quarterly period ended September 30, 2025, and provided updated 2025 earnings guidance. For the three months ended September 30, 2025 and 2024, Net Income Attributable to Common Shareholders was $0.58 and $0.54, respectively, per diluted share. Third Quarter 2025 Highlights • Reported Nareit FFO of $1.15 per diluted share and Core Operating Earnings of $1.09 per diluted share • Increased Same Property Net Operating Income ("NOI") year-over-year, excluding termination fees, by 4.8% • 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% • Same Property percent leased ended the quarter at 96.4%, an increase of 40 basis points year-over-year, and 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 • 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 • As of September 30, 2025, Regency's in-process development and redevelopment projects had estimated net project costs of $668 million at a blended estimated yield of 9% • 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 EBITDA re at September 30, 2025 was 5.3x • Subsequent to quarter end, on October 27, 2025, Regency's Board of Directors (the "Board") declared a quarterly cash dividend on the Company's common stock of $0.755 per share, an increase of more than 7% “We are pleased to report another quarter of exceptional results, highlighted by strong Same Property NOI, enabling us to raise our our full-year earnings growth outlook. Driven by this continued success and our strong performance, we are also increasing our common dividend by more than 7%,” said Lisa Palmer, President and Chief Executive Officer. “Our results reflect the tremendous talent of our team, driving strong revenue growth and successfully executing on our capital allocation strategy. So far this year, we have deployed more than $750 million of capital into accretive investments, enhancing our strong organic growth.” Supplemental Information ii Financial Results Net Income Attributable to Common Shareholders • For the three months ended September 30, 2025, Net Income Attributable to Common Shareholders was $106.0 million, or $0.58 per diluted share, compared to Net Income Attributable to Common Shareholders of $98.1 million, or $0.54 per diluted share, for the same period in 2024. Nareit FFO • For the three months ended September 30, 2025, Nareit FFO 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, Core Operating Earnings 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. Portfolio Performance Same Property NOI • Third quarter 2025 Same Property NOI, excluding termination fees, increased by 4.8% compared to the same period in 2024. o Same Property base rent growth contributed 4.7% to Same Property NOI growth in the third quarter. Occupancy • As of September 30, 2025, Regency’s Same Property portfolio was 96.4% leased, an increase of 40 basis points compared to September 30, 2024. o Same Property anchor percent leased, which includes spaces greater than or equal to 10,000 square feet, was 98.0%, an increase of 10 basis points compared to September 30, 2024. o Same Property shop percent leased, which includes spaces less than 10,000 square feet, was 93.9%, an increase of 80 basis points compared to September 30, 2024. • As of September 30, 2025, Regency’s Same Property portfolio was 94.4% commenced, an increase of 40 basis points sequentially and an increase of 190 basis points compared to September 30, 2024. Leasing Activity • During the three months ended September 30, 2025, Regency executed approximately 1.8 million square feet of comparable new and renewal leases at a blended cash rent spread of +12.8% and a blended straight-lined rent spread of +22.9%. • During the twelve months ended September 30, 2025, the Company executed approximately 7.4 million square feet of comparable new and renewal leases at a blended cash rent spread of +10.5% and a blended straight-lined rent spread of +20.3%. Capital Allocation and Balance Sheet Developments and Redevelopments • For the three months ended September 30, 2025, the Company started development and redevelopment projects with estimated net project costs of approximately $170 million, at the Company's share. o Third quarter project starts included over $140 million of ground-up development projects, including: ▪ The Village at Seven Pines in Jacksonville, FL, a 239K square foot Publix-anchored center ▪ Ellis Village Center in the San Francisco Bay Area, a 49K square foot Sprouts-anchored center Supplemental Information iii • For the three months ended September 30, 2025, the Company completed development and redevelopment projects with estimated net project costs of approximately $22 million, at the Company's share. • As of September 30, 2025, Regency’s in-process development and redevelopment projects had estimated net project costs of $668 million at the Company’s share, 51% of which has been incurred to date. Property Transactions • As previously disclosed, on July 23, 2025, the Company acquired a portfolio of five shopping centers in the Rancho Mission Viejo master planned community in Orange County, CA, for $357 million. • On August 1, 2025, the Company acquired its partner's 50% interest in Chestnut Ridge Shopping Center in Montvale, NJ for approximately $9.2 million, and now owns 100% of the asset. • On August 1, 2025, the Company acquired its partner's 50% interest in Baybrook East and 47% interest in The Market at Springwoods Village, both in Houston, TX, for a combined total of $34 million and now owns 100% of both assets. • Subsequent to quarter end, the Company completed a property distribution with its partner involving 11 shopping centers within our Regency-GRI joint venture. Our partner transferred its 60% ownership interest in five properties to Regency: Ashburn Farm Village, Firstfield Shopping Center, Stefko Boulevard, Willow Lake and Willow Lake West. Effective October 1, 2025, Regency owns 100% of these five assets. In exchange, Regency transferred its 40% ownership interest in six properties to its partner: Allen Street, Centre Ridge, Hanover Village, Laguna Niguel, Ralston Square and Warwick Square. Effective October 1, 2025, Regency no longer has an ownership interest in these six assets. The transaction is expected to have a neutral impact to Regency's Nareit FFO and Core Operating Earnings in 2025. • During the quarter, the Company disposed of five assets for approximately $32 million. • Subsequent to quarter end, on October 7, 2025, the Company disposed of Hammocks Town Center in Miami, FL, for approximately $72 million. Balance Sheet • During the third quarter, the Company settled approximately 673K shares under forward sale agreements in connection with its ATM program, entered into during 2024 at an average gross issuance price of $74.28 per share. • As of September 30, 2025, Regency had approximately $1.5 billion of available capacity under its revolving credit facility. • As of September 30, 2025, Regency’s pro-rata net debt and preferred stock to TTM operating EBITDA re was 5.3x Common and Preferred Dividends • On October 27, 2025, Regency's Board declared a quarterly cash dividend on the Company's common stock of $0.755 per share, an increase of approximately 7.1%. The dividend is payable on January 6, 2026 to shareholders of record as of December 15, 2025. • On October 27, 2025, Regency's Board declared a quarterly cash dividend on the Company's Series A preferred stock of $0.390625 per share. The dividend is payable on January 30, 2026 to shareholders of record as of January 16, 2026. • On October 27, 2025, Regency's Board declared a quarterly cash dividend on the Company's Series B preferred stock of $0.367200 per share. The dividend is payable on January 30, 2026 to shareholders of record as of January 16, 2026. Supplemental Information iv 2025 Guidance Regency Centers is hereby providing updated 2025 guidance, as summarized in the table below. Please refer to the Company’s third quarter 2025 "Earnings Presentation" and "Quarterly Supplemental Disclosure" for additional detail. All materials are posted on the Company’s website at investors.regencycenters.com. Full Year 2025 Guidance (in thousands, except per share data) YTD Actual Current 2025 Guidance Prior 2025 Guidance Net Income Attributable to Common Shareholders per diluted share $1.73 $2.30 - $2.32 $2.28 - $2.32 Nareit Funds From Operations (“Nareit FFO”) per diluted share $3.46 $4.62 - $4.64 $4.59 - $4.63 Core Operating Earnings per diluted share (1) $3.29 $4.39 - $4.41 $4.36 - $4.40 Same property NOI growth without termination fees 5.5% +5.25% to +5.5% +4.5% to +5.0% Non-cash revenues (2) $36,802 +/-$49,000 +/- $49,000 G&A expense, net (3) $72,396 +/-$96,000 $93,000-$96,000 Interest expense, net and Preferred stock dividends (4) $175,524 $235,000-$237,000 $235,000-$237,000 Management, transaction and other fees $19,982 +/-$27,000 +/-$27,000 Development and Redevelopment spend $224,771 +/-$300,000 +/-$300,000 Acquisitions $538,486 $538,500 +/-$500,000 Cap rate (weighted average) 6.0% 6.0% +/- 6.0% Dispositions $38,029 $110,000 +/-$75,000 Cap rate (weighted average) (5) 5.1% 5.6% +/- 5.5% Share/unit issuances (6) $249,662 $300,000 $300,000 Note: Figures above represent 100% of Regency's consolidated entities and its pro-rata share of unconsolidated real estate partnerships, with the exception of items that are net of noncontrolling interests including per share data, "Development and Redevelopment spend," "Acquisitions," and "Dispositions". (1) Core Operating Earnings excludes from Nareit FFO: (i) transaction related income or expenses; (ii) gains or losses from the early extinguishment of debt; (iii) certain non-cash components of earnings derived from straight-line rents, above and below market rent amortization, and debt and derivative mark-to-market amortization; and (iv) other amounts as they occur. (2) Includes above and below market rent amortization and straight-line rents, and excludes debt and derivative mark to market amortization. (3) Represents 'General & administrative, net' before gains or losses on deferred compensation plan, as reported on supplemental pages 6 and 7 and calculated on a pro-rata basis. (4) Includes debt and derivative mark to market amortization, and is net of interest income. (5) Disposition cap rates excude the $11M sale of 101 7th Avenue on 7/1/2025, which was vacant at the time of closing. (6) Share/unit issuances guidance of $300M reflects (i) $100M of common equity raised on a forward basis through the Company's ATM in 4Q24, and (ii) ~$200M from the Company's issuance of operating partnership units for the funding of the 5-asset portfolio acquisition in Orange County, CA in 3Q25. Conference Call Information To discuss Regency’s third quarter results and provide further business updates, management will host a conference call on Wednesday, October 29 th at 11:00 a.m. ET. Dial-in and webcast information is below. Third Quarter 2025 Earnings Conference Call Date: Wednesday, October 29, 2025 Time: 11:00 a.m. ET Dial#: 877-407-0789 or 201-689-8562 Webcast: Third Quarter 2025 Webcast Link Replay: Webcast Archive – Investor Relations page under Events & Webcasts Supplemental Information v About Regency Centers Corporation (Nasdaq: REG) Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit RegencyCenters.com. Reconciliation of Net Income Attributable to Common Shareholders to Nareit FFO, Core Operating Earnings, and Adjusted Funds from Operations – Actual (in thousands, except per share amounts) For the Periods Ended September 30, 2025 and 2024 Three Months Ended Year to Date 2025 2024 2025 2024 Reconciliation of Net Income Attributable to Common Shareholders to Nareit FFO: Net Income Attributable to Common Shareholders $ 105,960 98,056 $ 314,742 303,672 Adjustments to reconcile to Nareit Funds From Operations (1) : Depreciation and amortization (excluding FF&E) 109,933 107,801 321,296 319,765 Gain on sale of real estate, net of tax (7,432 ) (11,365 ) (7,187 ) (33,853 ) Provision for impairment of real estate 3,374 - 4,636 - Exchangeable operating partnership units 1,664 593 2,892 1,836 Nareit FFO $ 213,499 195,085 $ 636,379 591,420 Nareit FFO per share (diluted) $ 1.15 1.07 $ 3.46 3.20 Weighted average shares (diluted) 185,494 182,872 183,781 184,548 Reconciliation of Nareit FFO to Core Operating Earnings: Nareit FFO $ 213,499 195,085 $ 636,379 591,420 Adjustments to reconcile to Core Operating Earnings (1) : Not Comparable Items Merger transition costs - 2,375 - 7,069 Loss on early extinguishment of debt - - - 180 Certain Non-Cash Items Straight-line rent (6,773 ) (5,886 ) (20,070 ) (16,907 ) Uncollectible straight-line rent (509 ) (134 ) 611 1,899 Above/below market rent amortization, net (5,423 ) (5,370 ) (17,260 ) (17,910 ) Debt and derivative mark-to-market amortization 1,816 1,693 4,618 4,333 Core Operating Earnings $ 202,610 187,763 604,278 570,084 Core Operating Earnings per share (diluted) $ 1.09 1.03 $ 3.29 3.09 Weighted average shares (diluted) 185,494 182,872 183,781 184,548 Weighted Average Shares For Diluted Earnings per Share 182,346 181,772 181,996 183,448 Weighted Average Shares For Diluted FFO and Core Operating Earnings per Share 185,494 182,872 183,781 184,548 Reconciliation of Core Operating Earnings to Adjusted Funds from Operations: Core Operating Earnings $ 202,610 187,763 $ 604,278 570,084 Adjustments to reconcile to Adjusted Funds from Operations (1) : Operating capital expenditures (33,832 ) (36,430 ) (90,109 ) (91,168 ) Debt cost and derivative adjustments 2,423 2,107 6,849 6,269 Stock-based compensation 5,321 4,776 16,219 14,078 Adjusted Funds from Operations $ 176,522 158,216 $ 537,237 499,263 (1) Includes Regency's consolidated entities and its pro-rata share of unconsolidated real estate partnerships, net of pro-rata share attributable to noncontrolling interests. Supplemental Information vi Reconciliation of Net Income Attributable to Common Shareholders to Pro-Rata Same Property NOI - Actual (in thousands) For the Periods Ended September 30, 2025 and 2024 Three Months Ended Year to Date 2025 2024 2025 2024 Net income attributable to common shareholders $105,960 98,056 $314,742 303,672 Less: Management, transaction, and other fees (6,720) (6,765) (20,776) (19,896) Other (1) (13,654) (12,115) (40,193) (37,428) Plus: Depreciation and amortization 102,799 100,955 299,108 299,508 General and administrative 27,060 25,073 74,140 75,443 Other operating expense 1,770 3,654 5,402 9,363 Other expense, net 45,897 34,290 145,610 94,898 Equity in income of investments in real estate partnerships excluded from NOI (2) 12,099 12,492 40,229 39,439 Net income attributable to noncontrolling interests 3,244 2,107 7,838 7,252 Preferred stock dividends 3,413 3,413 10,239 10,239 NOI 281,868 261,160 836,339 782,490 Less non-same property NOI (3) (7,631) 591 (10,080) 210 Same Property NOI $274,237 261,751 $826,259 782,700 % change 4.8% 5.6% Same Property NOI without Termination Fees $273,460 261,002 $821,113 778,545 % change 4.8% 5.5% Same Property NOI without Termination Fees or Redevelopments $233,476 225,015 $702,778 672,529 % change 3.8% 4.5% (1) Includes straight-line rental income and expense, net of reserves, above and below market rent amortization, other fees, and noncontrolling interests. (2) Includes non-NOI expenses incurred at our unconsolidated real estate partnerships, such as, but not limited to, straight-line rental income, above and below market rent amortization, depreciation and amortization, interest expense, and real estate gains and impairments. (3) Includes revenues and expenses attributable to Non-Same Property, Projects in Development, corporate activities, and noncontrolling interests. Same Property NOI is a key non-GAAP pro-rata measure used by management in evaluating the operating performance of Regency’s properties. The Company provides a reconciliation of Net Income Attributable to Common Shareholders to pro-rata Same Property NOI. Reported results are preliminary and not final until the filing of the Company’s Form 10-Q with the SEC and, therefore, remain subject to adjustment. The Company has published additional financial information in its third quarter 2025 supplemental package that may help investors estimate earnings. A copy of the Company’s third quarter 2025 supplemental package will be available on the Company's website at investors.regencycenters.com or by written request to: Investor Relations, Regency Centers Corporation, One Independent Drive, Suite 114, Jacksonville, Florida, 32202. The supplemental package contains more detailed financial and property results including financial statements, an outstanding debt summary, acquisition and development activity, investments in partnerships, information pertaining to securities issued other than common stock, property details, a significant tenant rent report and a lease expiration table in addition to earnings and valuation guidance assumptions. The information provided in the supplemental package is unaudited and includes non-GAAP measures, and there can be no assurance that the information will not vary from the final information in the Company’s Form 10-Q for the period ended September 30, 2025. Regency may, but assumes no obligation to, update information in the supplemental package from time to time. Supplemental Information vii ### Non-GAAP Financial Measures We believe these non-GAAP measures provide useful information to our Board of Directors, management and investors regarding certain trends relating to our financial condition and results of operations. Our management uses these non-GAAP measures to compare our performance to that of prior periods for trend analyses, purposes of determining management incentive compensation and budgeting, forecasting and planning purposes. We do not consider non-GAAP measures an alternative to financial measures determined in accordance with GAAP, rather they supplement GAAP measures by providing additional information we believe to be useful to our shareholders. The principal limitation of these non-GAAP financial measures is they may exclude significant expense and income items that are required by GAAP to be recognized in our consolidated financial statements. In addition, they reflect the exercise of management’s judgment about which expense and income items are excluded or included in determining these non-GAAP financial measures. In order to compensate for these limitations, reconciliations of the non-GAAP financial measures we use to their most directly comparable GAAP measures are provided. Non-GAAP financial measures should not be relied upon in evaluating the financial condition, results of operations or future prospects of the Company. Nareit FFO is a commonly used measure of REIT performance, which the National Association of Real Estate Investment Trusts (“Nareit”) defines as net income, computed in accordance with GAAP, excluding gains on sale and impairments of real estate, net of tax, plus depreciation and amortization related to real estate, and after adjustments for unconsolidated real estate partnerships. Regency computes Nareit FFO for all periods presented in accordance with Nareit's definition. Since Nareit FFO excludes depreciation and amortization and gains on sales and impairments of real estate, it provides a performance measure that, when compared year over year, reflects the impact on operations from trends in percent leased, rental rates, operating costs, acquisition and development activities, and financing costs. This provides a perspective of the Company’s financial performance not immediately apparent from net income determined in accordance with GAAP. Thus, Nareit FFO is a supplemental non-GAAP financial measure of the Company's operating performance, which does not represent cash generated from operating activities in accordance with GAAP; and, therefore, should not be considered a substitute measure of cash flows from operations. The Company provides a reconciliation of Net Income Attributable to Common Shareholders to Nareit FFO. Core Operating Earnings is an additional performance measure that excludes from Nareit FFO: (i) transaction related income or expenses; (ii) gains or losses from the early extinguishment of debt; (iii) certain non-cash components of earnings derived from above and below market rent amortization, straight-line rents, and amortization of mark-to-market of debt and derivative adjustments; and (iv) other amounts as they occur. The Company provides a reconciliation of Net Income Attributable to Common Shareholders to Nareit FFO to Core Operating Earnings. Adjusted Funds From Operations is an additional performance measure used by Regency that reflects cash available to fund the Company’s business needs and distribution to shareholders. AFFO is calculated by adjusting Core Operating Earnings ("COE") for (i) capital expenditures necessary to maintain and lease the Company’s portfolio of properties, (ii) debt cost and derivative adjustments and (iii) stock-based compensation. The Company provides a reconciliation of Net Income Attributable to Common Shareholders to Nareit FFO, to Core Operating Earnings, and to Adjusted Funds from Operations. Pro-rata information: includes 100% of the Company’s consolidated properties plus its economic share (based on the ownership interest) in the unconsolidated real estate investment partnerships. The Company provides Pro-rata financial information because Regency believes it assists investors and analysts in estimating the economic interest in the consolidated and unconsolidated real estate investment partnerships, when read in conjunction with the Company’s reported results under GAAP. The Company believes presenting its Pro-rata share of assets, liabilities, operating results, and other metrics, along with certain other non-GAAP financial measures, makes comparisons of its operating results to those of other REITs more meaningful. The Pro-rata information provided is not, nor is it intended to be, presented in accordance with GAAP. The Pro-rata supplemental details of assets and liabilities and supplemental details of operations reflect the Company’s proportionate economic ownership of the assets, liabilities, and operating results of the properties in our portfolio. The Pro-rata information is prepared on a basis consistent with the comparable consolidated amounts and is intended to more accurately reflect the Company’s proportionate economic interest in the assets, liabilities, and operating results of properties in its portfolio. The Company does not control the unconsolidated real estate partnerships, and the Pro-rata presentations of the assets and liabilities, and revenues and expenses do not represent our legal claim to such items. The partners are entitled to profit or loss allocations and distributions of cash flows according to the operating agreements, which generally provide for such allocations according to their invested capital. The Company’s share of invested capital establishes the ownership interests Regency uses to prepare its Pro-rata share. The presentation of Pro-rata information has limitations which include, but are not limited to, the following: • The amounts shown on the individual line items were derived by applying our overall economic ownership interest percentage determined when applying the equity method of accounting and do not necessarily represent our legal claim to the assets and liabilities, or the revenues and expenses; and • Other companies in our industry may calculate their Pro-rata interest differently, limiting the comparability of Pro-rata information. Because of these limitations, the Pro-rata financial information should not be considered independently or as a substitute for the financial statements as reported under GAAP. The Company compensates for these limitations by relying primarily on our GAAP financial statements, using the Pro-rata information as a supplement. Supplemental Information viii Forward-Looking Statements Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to Regency’s future events, developments, or financial or operational performance or results such as our Current 2025 Guidance, are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as “may,” “will,” “could,” “should,” “would,” “expect,” “estimate,” “believe,” “intend,” “forecast,” “project,” “plan,” “anticipate,” “guidance,” and other similar language. However, the absence of these or similar words or expressions does not mean a statement is not forward-looking. While we believe these forward-looking statements are reasonable when made, forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance these expectations will be attained, and it is possible actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Our operations are subject to a number of risks and uncertainties including, but not limited to, those risk factors described in our Securities and Exchange Commission (“SEC”) filings, our Annual Report on Form 10-K for the year ended December 31, 2024 (“2024 Form 10-K”) under Item 1A, as supplemented by the discussion in Item 1A of Part II of our subsequent Quarterly Reports on Form 10-Q. When considering an investment in our securities, you should carefully read and consider these risks, together with all other information in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our other filings and submissions to the SEC. If any of the events described in the risk factors actually occur, our business, financial condition or operating results, as well as the market price of our securities, could be materially adversely affected. Forward-looking statements are only as of the date they are made, and Regency undertakes no duty to update its forward-looking statements, whether as a result of new information, future events or developments or otherwise, except as to the extent required by law. These risks and events include, without limitation: Risk Factors Related to the Current Economic and Geopolitical Environments Interest rates in the current economic environment may adversely impact our cost to borrow, real estate valuation, and stock price. Economic challenges and policy changes may adversely impact our tenants and our business. Unfavorable developments that may affect the banking and financial services industry could adversely affect our business, liquidity and financial condition, and overall results of operations. Current geopolitical challenges could impact the U.S. economy and consumer spending and our results of operations and financial condition. Evolving political and economic events and uncertainties, including tariffs, retaliatory tariffs, international trade disputes, and immigration policies could adversely impact the businesses of our tenants and our business . Risk Factors Related to Pandemics or other Public Health Crises Pandemics or other public health crises may adversely affect our tenants financial condition, the profitability of our properties, and our access to the capital markets and could have a material adverse effect on our business, results of operations, cash flows and financial condition. Risk Factors Related to Operating Retail-Based Shopping Centers Economic and market conditions may adversely affect the retail industry and consequently reduce our revenues and cash flow, and increase our operating expenses. Shifts in retail trends, sales, and delivery methods between brick-and-mortar stores, e-commerce, home delivery, and curbside pick-up may adversely impact our revenues, results of operations, and cash flows. Changing economic and retail market conditions in geographic areas where our properties are concentrated may reduce our revenues and cash flow. Our success depends on the continued presence and success of our “anchor” tenants. A percentage of our revenues are derived from “local” tenants and our net income may be adversely impacted if these tenants are not successful, or if the demand for the types or mix of tenants significantly change. We may be unable to collect balances due from tenants in bankruptcy. Many of our costs and expenses associated with operating our properties may remain constant or increase, even if our lease income decreases. Compliance with the Americans with Disabilities Act and other building, fire, and safety regulations may have a material negative effect on us. Risk Factors Related to Real Estate Investments Our real estate assets may decline in value and be subject to impairment losses which may reduce our net income. We face risks associated with development, redevelopment, and expansion of properties. We face risks associated with the development of mixed-use commercial properties. We face risks associated with the acquisition of properties. We may be unable to sell properties when desired because of market conditions. Changes in tax laws could impact our acquisition or disposition of real estate. Risk Factors Related to the Environment Affecting Our Properties Climate change may adversely impact our properties, some of which may be more vulnerable due to their geographic location, and may lead to additional compliance obligations and costs. Costs of environmental remediation may adversely impact our financial performance and reduce our cash flow. Risk Factors Related to Corporate Matters An increased focus on metrics and reporting related to environmental, social, and governance (“ESG”) factors by investors and other stakeholders may impose additional costs and expose us to new risks. An uninsured loss or a loss that exceeds the insurance coverage on our properties may subject us to loss of capital and revenue on those properties. Failure to attract and retain key personnel may adversely affect our business and operations. Supplemental Information ix Risk Factors Related to Our Partnerships and Joint Ventures We do not have voting control over all of the properties owned in our real estate partnerships and joint ventures, so we are unable to ensure that our objectives will be pursued. The termination of our partnerships may adversely affect our cash flow, operating results, and our ability to make distributions to stock and unit holders. Risk Factors Related to Funding Strategies and Capital Structure Our ability to sell properties and fund acquisitions and developments may be adversely impacted by higher market capitalization rates and lower NOI at our properties which may adversely affect results of operations and financial condition. We depend on external sources of capital, which may not be available in the future on favorable terms or at all. Our debt financing may adversely affect our business and financial condition. Covenants in our debt agreements may restrict our operating activities and adversely affect our financial condition. Increases in interest rates would cause our borrowing costs to rise and negatively impact our results of operations. Hedging activity may expose us to risks, including the risks that a counterparty will not perform and that the hedge will not yield the economic benefits we anticipate, which may adversely affect us. Risk Factors Related to Information Management and Technology The unauthorized access, use, theft or destruction of tenant or employee personal, financial or other data, or of Regency's proprietary or confidential information stored in our information systems or by third parties on our behalf, could impact operations, and expose us to potential liabilities and material adverse financial impact. Any actual or perceived failure to comply with new or existing laws, regulations and other requirements relating to the privacy, security and processing of personal information could adversely affect our business, results of operations, or financial condition. The use of technology based on artificial intelligence presents risks relating to confidentiality, creation of inaccurate and flawed outputs and emerging regulatory risk, any or all of which may adversely affect our business and results of operations. Risk Factors Related to Taxes and the Parent Company’s Qualification as a REIT If the Parent Company fails to qualify as a REIT for federal income tax purposes, it would be subject to federal income tax at regular corporate rates. Dividends paid by REITs generally do not qualify for reduced tax rates. Certain non-U.S. stockholders may be subject to U.S. federal income tax on gain recognized on a disposition of our common stock if the Parent Company does not qualify as a “domestically controlled” REIT. Legislative or other actions affecting REITs may have a negative effect on us or our investors. Complying with REIT requirements may limit our ability to hedge effectively and may cause us to incur tax liabilities. Partnership tax audit rules could have a material adverse effect. Risk Factors Related to the Company’s Stock Restrictions on the ownership of the Parent Company’s capital stock to preserve its REIT status may delay or prevent a change in control. The issuance of the Parent Company's capital stock may delay or prevent a change in control. Ownership in the Parent Company may be diluted in the future. The Parent Company’s amended and restated bylaws provides that the courts located in the State of Florida will be the sole and exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees. There is no assurance that we will continue to pay dividends at current or historical rates. Supplemental Information x F inancial Results Summary September 30, 2025 (in thousands, except per share data) Three Months Ended Year to Date 2025 2024 2025 2024 Financial Results Net income attributable to common shareholders (page 5) $105,960 $98,056 $314,742 $303,672 Net income per diluted share $0.58 $0.54 $1.73 $1.66 Nareit Funds From Operations (Nareit FFO) (page 9) $213,499 $195,085 $636,379 $591,420 Nareit FFO per diluted share $1.15 $1.07 $3.46 $3.20 Core Operating Earnings (page 9) $202,610 $187,763 $604,278 $570,084 Core Operating Earnings per diluted share $1.09 $1.03 $3.29 $3.09 Same Property NOI without termination fees (page 8) $273,460 $261,002 $821,113 $778,545 % growth 4.8% 5.5% Operating EBITDAre (page 10) $266,542 $246,846 $790,604 $742,902 Dividends declared per common share and unit $0.705 $0.670 $2.115 $2.010 Payout ratio of Core Operating Earnings per share (diluted) 64.7% 65.0% 64.3% 65.0% Diluted share and unit count Weighted average shares (diluted) - Net income 182,346 181,772 181,996 183,448 Weighted average shares and units (diluted) - Nareit FFO and Core Operating Earnings 185,494 182,872 183,781 184,548 __________________________________________________________________________________________________ As of As of As of As of 9/30/2025 12/31/2024 12/31/2023 12/31/2022 Capital Information Market price per common share $72.90 $73.93 $67.00 $62.50 Common shares outstanding 182,232 181,361 184,581 171,125 Exchangeable units held by noncontrolling interests 3,838 1,097 1,107 741 Common shares and equivalents issued and outstanding 186,070 182,458 185,688 171,866 Market equity value of common shares and equivalents $13,564,503 $13,489,128 $12,441,131 $10,741,627 Preferred stock (1) $225,000 $225,000 $225,000 $0 Outstanding debt 5,490,222 4,984,071 4,688,805 4,225,014 Less: cash (205,595) (61,884) (91,354) (68,776) Net debt and preferred stock $5,509,627 $5,147,187 $4,822,451 $4,156,238 Total market capitalization $19,074,130 $18,636,315 $17,263,582 $14,897,865 Debt metrics (pro-rata; trailing 12 months "TTM") (2) Net Debt and Preferreds-to-Operating EBITDAre 5.3x 5.2x 5.4x 5.0x Net Debt and Preferreds-to-Operating EBITDAre, adjusted 5.1x Fixed charge coverage 4.2x 4.3x 4.7x 4.7x (1) Regency has outstanding 4.6M shares of 6.25% Series A Cumulative Redeemable Preferred Stock with a liquidation preference of $115M and callable on demand, and 4.4M shares of 5.875% Series B Cumulative Redeemable Preferred Stock with a liquidation preference of $110M and callable on demand. (2) In light of the merger with UBP on August 18, 2023, adjusted debt metric calculations include legacy Regency results for the trailing 12 months and the annualized contribution from UBP post merger. Supplemental Information 1 R eal Estate Portfolio Summary September 30, 2025 (GLA in thousands) Consolidated and 100% of Real Estate Partnerships 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 Number of properties 485 483 483 482 483 Number of retail operating properties 478 476 475 474 473 Number of same properties 466 469 470 397 397 Number of properties in development (1) 7 5 6 6 6 Gross Leasable Area (GLA) - All properties 58,615 57,643 57,654 57,315 57,172 GLA - Retail operating properties 57,732 57,006 56,863 56,523 56,364 GLA - Same properties 55,778 55,675 55,735 50,219 50,272 GLA - Properties in development (1) 883 598 752 752 750 Consolidated and Pro-Rata Share of Real Estate Partnerships GLA - All properties 50,218 49,166 49,217 48,814 48,842 GLA - Retail operating properties 49,335 48,529 48,502 48,100 48,112 GLA - Same properties (2) 47,642 47,483 47,503 47,483 47,538 Anchor Spaces (≥ 10,000 SF) (2) 29,179 29,193 29,192 29,193 29,226 Shop Spaces (< 10,000 SF) (2) 18,463 18,290 18,311 18,289 18,313 GLA - Properties in development (1) 883 598 675 675 672 % leased - All properties 96.0% 96.2% 96.3% 96.3% 95.6% % leased - Retail operating properties 96.5% 96.4% 96.5% 96.5% 95.9% % leased - Same properties (2) 96.4% 96.6% 96.7% 96.6% 96.0% Anchor Spaces (≥ 10,000 SF) (2) 98.0% 98.2% 98.5% 98.6% 97.9% Shop Spaces (< 10,000 SF) (2) 93.9% 93.9% 93.7% 93.6% 93.1% % commenced - Same properties (2)(3) 94.4% 94.0% 93.6% 93.4% 92.5% Same property NOI Growth without Termination Fees - YTD (see page 8) 5.5% 5.8% 4.3% 3.1% 2.9% Same property NOI Growth without Termination Fees or Redevelopments - YTD (see page 8) 4.5% 4.9% 3.6% 2.3% 2.1% Rent spreads - Trailing 12 months (4) (see page 19) 10.5% 9.7% 9.5% 9.5% 9.7% (1) Includes current ground-up developments. (2) Prior periods adjusted for current same property pool. (3) Excludes leases that are signed but have not yet commenced. (4) Retail operating properties only. Rent spreads are calculated on a comparable-space, cash basis for new and renewal leases executed. Amounts may not total due to rounding. Supplemental Information 2 C onsolidated Balance Sheets September 30, 2025 and December 31, 2024 (in thousands) 2025 2024 (unaudited) Assets: Net real estate investments: Real estate assets at cost $ 14,342,200 13,698,419 Less: accumulated depreciation 3,180,995 2,960,399 Real estate assets, net 11,161,205 10,738,020 Investments in sales-type lease, net 16,668 16,291 Investments in real estate partnerships 367,837 399,044 Net real estate investments 11,545,710 11,153,355 Properties held for sale, net 53,572 - Cash, cash equivalents, and restricted cash 205,595 61,884 Tenant receivables, net 24,088 35,306 Straight-line rent receivables, net 174,572 157,507 Other receivables 56,883 62,682 Tenant and other receivables 255,543 255,495 Deferred leasing costs, net 88,838 79,911 Acquired lease intangible assets, net 254,939 229,983 Right of use assets, net 317,580 322,287 Other assets 337,202 289,046 Total assets $ 13,058,979 12,391,961 Liabilities and Equity: Liabilities: Notes payable, net $ 4,885,954 4,343,700 Unsecured credit facility 30,000 65,000 Total notes payable 4,915,954 4,408,700 Accounts payable and other liabilities 396,817 392,302 Acquired lease intangible liabilities, net 362,040 364,608 Lease liabilities 243,272 244,861 Tenants' security, escrow deposits, and prepaid rent 80,840 81,183 Total liabilities 5,998,923 5,491,654 Equity: Shareholders' Equity: Preferred stock 225,000 225,000 Common stock 1,822 1,814 Treasury stock (30,641 ) (28,045 ) Additional paid in capital 8,654,914 8,503,227 Accumulated other comprehensive (loss) income (4,299 ) 2,226 Distributions in excess of net income (2,049,762 ) (1,980,076 ) Total shareholders' equity 6,797,034 6,724,146 Noncontrolling Interests: Exchangeable operating partnership units 137,745 40,744 Limited partners' interests in consolidated partnerships 125,277 135,417 Total noncontrolling interests 263,022 176,161 Total equity 7,060,056 6,900,307 Total liabilities and equity $ 13,058,979 12,391,961 These consolidated balance sheets should be read in conjunction with the Company's most recent Form 10-Q and Form 10-K filed with the Securities and Exchange Commission. Supplemental Information 3 S upplemental Details of Assets and Liabilities (Real Estate Partnerships Only) September 30, 2025 and December 31, 2024 (in thousands) Noncontrolling Interests Share of Unconsolidated Real Estate Partnerships 2025 2024 2025 2024 Assets: Real estate assets at cost $ (107,033 ) (111,047 ) $ 1,370,821 1,385,178 Less: accumulated depreciation (17,508 ) (18,237 ) 533,383 519,397 Real estate assets, net (89,525 ) (92,810 ) 837,438 865,781 Investments in sales-type lease, net (2,870 ) (2,798 ) 37,904 36,444 Net real estate investments (92,395 ) (95,608 ) 875,342 902,225 Cash, cash equivalents, and restricted cash (55,334 ) (65,217 ) 26,902 22,323 Tenant receivables, net (323 ) (304 ) 2,384 3,771 Straight-line rent receivables, net (2,408 ) (2,707 ) 22,920 22,813 Other receivables (180 ) (342 ) 390 2,122 Tenant and other receivables (2,911 ) (3,353 ) 25,694 28,706 Deferred leasing costs, net (1,840 ) (2,004 ) 16,694 17,586 Acquired lease intangible assets, net (861 ) (1,037 ) 7,911 8,612 Right of use assets, net (1,576 ) (1,626 ) 4,791 4,834 Other assets (539 ) (694 ) 28,672 31,476 Total assets $ (155,456 ) (169,539 ) $ 986,006 1,015,762 Liabilities: Notes payable, net $ (25,317 ) (27,191 ) $ 574,268 575,371 Accounts payable and other liabilities (2,308 ) (4,250 ) 30,417 28,104 Acquired lease intangible liabilities, net (138 ) (195 ) 5,868 5,491 Lease liabilities (2,033 ) (2,056 ) 3,254 3,267 Tenants' security, escrow deposits, and prepaid rent (383 ) (430 ) 4,362 4,485 Total liabilities $ (30,179 ) (34,122 ) $ 618,169 616,718 Note Noncontrolling interests represent limited partners' interests in consolidated Real Estate Partnerships' activities and Share of Unconsolidated Real Estate Partnerships represents the Company's share of investments in unconsolidated Real Estate Partnerships' activities, of which each are included on a single line presentation in the Company's consolidated financial statements in accordance with GAAP. Supplemental Information 4 C onsolidated Statements of Operations For the Periods Ended September 30, 2025 and 2024 (in thousands) (unaudited) Three Months Ended Year to Date 2025 2024 2025 2024 Revenues: Lease income $ 377,761 349,057 $ 1,117,945 1,050,008 Other property income 3,089 4,444 10,609 11,464 Management, transaction, and other fees 6,720 6,765 20,776 19,896 Total revenues 387,570 360,266 1,149,330 1,081,368 Operating Expenses: Depreciation and amortization 102,799 100,955 299,108 299,508 Property operating expense 65,471 60,477 194,689 183,242 Real estate taxes 47,080 45,729 140,940 135,514 General and administrative 27,060 25,073 74,140 75,443 Other operating expenses 1,770 3,654 5,402 9,363 Total operating expenses 244,180 235,888 714,279 703,070 Other Expense, net: Interest expense, net 51,323 47,022 149,608 133,068 Provision for impairment of real estate 3,374 - 4,636 - Gain on sale of real estate, net of tax (6,198 ) (11,360 ) (6,005 ) (33,844 ) Loss on early extinguishment of debt - - - 180 Net investment income (2,602 ) (1,372 ) (2,629 ) (4,506 ) Total other expense, net 45,897 34,290 145,610 94,898 Income before equity in income of investments in real estate partnerships 97,493 90,088 289,441 283,400 Equity in income of investments in real estate partnerships 15,124 13,488 43,378 37,763 Net income 112,617 103,576 332,819 321,163 Noncontrolling Interests: Exchangeable operating partnership units (1,664 ) (593 ) (2,892 ) (1,836 ) Limited partners' interests in consolidated partnerships (1,580 ) (1,514 ) (4,946 ) (5,416 ) Net income attributable to noncontrolling interests (3,244 ) (2,107 ) (7,838 ) (7,252 ) Net income attributable to the Company 109,373 101,469 324,981 313,911 Preferred stock dividends (3,413 ) (3,413 ) (10,239 ) (10,239 ) Net income attributable to common shareholders $ 105,960 98,056 $ 314,742 303,672 These consolidated statements of operations should be read in conjunction with the Company's most recent Form 10-Q and Form 10-K filed with the Securities and Exchange Commission. Supplemental Information 5 S upplemental Details of Operations (Consolidated Only) For the Periods Ended September 30, 2025 and 2024 (in thousands) Three Months Ended Year to Date 2025 2024 2025 2024 Revenues: * Base rent $ 265,289 246,531 $ 778,216 736,142 * Recoveries from tenants 92,406 84,795 275,392 254,623 * Percentage rent 1,950 2,155 11,558 11,958 * Termination fees 927 679 4,973 3,910 * Uncollectible lease income 53 (342 ) (1,906 ) (3,433 ) * Other lease income 4,609 4,350 13,310 12,941 Straight-line rent on lease income 6,743 5,163 18,137 14,877 Above/below market rent amortization 5,784 5,726 18,265 18,990 Lease income, net 377,761 349,057 1,117,945 1,050,008 * Other property income 3,089 4,444 10,609 11,464 Property management fees 3,935 3,909 12,196 11,765 Asset management fees 1,777 1,693 5,240 4,915 Leasing commissions and other fees 1,008 1,163 3,340 3,216 Management, transaction, and other fees 6,720 6,765 20,776 19,896 Total revenues $ 387,570 360,266 $ 1,149,330 1,081,368 Operating Expenses: Depreciation and amortization (including FF&E) $ 102,799 100,955 $ 299,108 299,508 * Operating and maintenance 60,813 56,185 181,612 170,058 * Ground rent 3,787 3,419 10,442 10,559 * Termination expense - - 24 5 Straight-line rent on ground rent 336 337 1,009 1,014 Above/below market ground rent amortization 535 536 1,602 1,606 Property operating expense 65,471 60,477 194,689 183,242 * Real estate taxes 47,080 45,729 140,940 135,514 Gross general & administrative 24,652 23,784 72,770 69,787 Stock-based compensation 5,321 4,776 16,219 14,078 Capitalized direct overhead costs (5,126 ) (4,407 ) (16,809 ) (12,037 ) General & administrative, net (1) 24,847 24,153 72,180 71,828 Loss on deferred compensation plan (2) 2,213 920 1,960 3,615 General & administrative 27,060 25,073 74,140 75,443 Other expenses 1,777 1,034 4,721 2,127 Development pursuit costs (income), net (7 ) 245 681 167 Merger transition costs - 2,375 - 7,069 Other operating expenses 1,770 3,654 5,402 9,363 Total operating expenses $ 244,180 235,888 $ 714,279 703,070 Other Expense, net: Gross interest expense $ 52,278 46,735 $ 150,878 136,378 Derivative amortization 226 246 677 503 Debt cost amortization 2,003 1,656 5,565 5,142 Debt and derivative mark-to-market amortization 1,805 1,613 4,703 4,092 Capitalized interest (2,768 ) (1,636 ) (7,302 ) (4,812 ) Interest income (2,221 ) (1,592 ) (4,913 ) (8,235 ) Interest expense, net 51,323 47,022 149,608 133,068 Provision for impairment of real estate 3,374 - 4,636 - Gain on sale of real estate, net of tax (6,198 ) (11,360 ) (6,005 ) (33,844 ) Loss on early extinguishment of debt - - - 180 Net investment income (2) (2,602 ) (1,372 ) (2,629 ) (4,506 ) Total other expense, net $ 45,897 34,290 $ 145,610 94,898 Consolidated NOI $ 256,643 237,279 $ 759,134 711,469 * Component of Net Operating Income (1) General & administrative, net is referenced and reflected as G&A expense, net in earnings guidance on page 27 . (2) The change in value of participant obligations within Regency’s non-qualified deferred compensation plan is included in General and administrative expense, which is offset by changes in value of assets held in the plan which is included in Net investment (income) expense. These consolidated supplemental details of operations should be read in conjunction with the Company's most recent Form 10-Q and Form 10-K filed with the Securities and Exchange Commission. Supplemental Information 6 S upplemental Details of Operations (Real Estate Partnerships Only) For the Periods Ended September 30, 2025 and 2024 (in thousands) Noncontrolling Interests Share of Unconsolidated Real Estate Partnerships Three Months Ended Year to Date Three Months Ended Year to Date 2025 2024 2025 2024 2025 2024 2025 2024 Revenues: * Base rent $ (2,155 ) (2,259 ) $ (6,847 ) (6,705 ) $ 27,851 26,853 $ 83,680 79,375 * Recoveries from tenants (584 ) (632 ) (1,873 ) (1,994 ) 9,326 8,688 29,235 26,537 * Percentage rent (19 ) (4 ) (28 ) (5 ) 307 282 1,669 1,550 * Termination fees (15 ) (1 ) (209 ) (3 ) 50 72 374 248 * Uncollectible lease income 2 3 41 41 (15 ) (128 ) (5 ) (724 ) * Other lease income (35 ) (35 ) (115 ) (113 ) 390 395 1,168 1,192 Straight-line rent on lease income (31 ) 69 (144 ) (726 ) 930 1,212 2,432 2,107 Above/below market rent amortization (23 ) 4 18 (8 ) 207 186 609 563 Lease income (2,860 ) (2,855 ) (9,157 ) (9,513 ) 39,046 37,560 119,162 110,848 * Other property income (43 ) (3 ) (71 ) (6 ) 155 203 655 558 Asset management fees - - - - (267 ) (238 ) (794 ) (707 ) Total revenues $ (2,903 ) (2,858 ) (9,228 ) (9,519 ) $ 38,934 37,525 119,023 110,699 Operating Expenses: Depreciation and amortization (including FF&E) (781 ) (860 ) (2,542 ) (2,465 ) 8,670 8,342 26,664 24,699 * Operating and maintenance (471 ) (452 ) (1,634 ) (1,433 ) 5,909 5,607 18,650 17,654 * Ground rent (38 ) (32 ) (107 ) (94 ) 73 65 214 202 Straight-line rent on ground rent (13 ) (13 ) (39 ) (39 ) - - - 20 Above/below market ground rent amortization - - - - 10 10 30 29 Property operating expense (522 ) (497 ) (1,780 ) (1,566 ) 5,992 5,682 18,894 17,905 * Real estate taxes (342 ) (348 ) (959 ) (1,077 ) 4,859 4,713 14,305 13,678 General & administrative, net (1) - - - - 65 70 216 230 Other operating expenses 687 722 2,119 2,240 203 197 1,071 1,307 Total operating expenses $ (958 ) (983 ) (3,162 ) (2,868 ) $ 19,789 19,004 61,150 57,819 Other Expense, net: Gross interest expense (367 ) (368 ) (1,127 ) (1,256 ) 5,597 4,916 16,818 14,801 Debt cost amortization (10 ) (14 ) (33 ) (42 ) 203 220 640 667 Debt and derivative mark-to-market amortization (14 ) (14 ) (41 ) (41 ) 25 94 (44 ) 282 Capitalized interest - - - - (420 ) - (1,260 ) - Interest income 26 35 81 104 (150 ) (192 ) (477 ) (624 ) Interest expense, net (365 ) (361 ) (1,120 ) (1,235 ) 5,255 5,038 15,677 15,126 Gain on sale of real estate - - - - (1,234 ) (5 ) (1,182 ) (9 ) Total other expense, net $ (365 ) (361 ) (1,120 ) (1,235 ) $ 4,021 5,033 14,495 15,117 Share of NOI $ (1,998 ) (2,099 ) (6,402 ) (6,181 ) $ 27,223 25,980 83,607 77,202 * Component of Net Operating Income (1) General & administrative, net is referenced and reflected as G&A expense, net in earnings guidance on page 27 . Note Noncontrolling interests represent limited partners’ interests in consolidated Real Estate Partnerships’ activities and Share of Share of Unconsolidated Real Estate Partnerships represents the Company’s share of investments in unconsolidated Real Estate Partnerships’ activities, of which each are included on a single line presentation in the Company’s consolidated financial statements in accordance with GAAP. Supplemental Information 7 S upplemental Details of Same Property NOI (Pro-Rata) For the Periods Ended September 30, 2025 and 2024 (in thousands) Three Months Ended Year to Date 2025 2024 2025 2024 Same Property NOI Detail: Real Estate Revenues: Base rent $ 284,146 271,887 $ 845,666 811,610 Recoveries from tenants 99,089 93,047 298,854 280,255 Percentage rent 2,213 2,424 13,117 13,400 Termination fees 777 749 5,146 4,160 Uncollectible lease income 159 (466 ) (1,822 ) (3,880 ) Other lease income 4,991 4,803 14,504 14,195 Other property income 2,446 4,032 9,058 8,930 Total real estate revenues 393,821 376,476 1,184,523 1,128,670 Real Estate Operating Expenses: Operating and maintenance 64,932 61,062 195,313 186,868 Termination expense - - - 5 Real estate taxes 50,540 49,880 151,576 147,426 Ground rent 4,112 3,783 11,375 11,671 Total real estate operating expenses 119,584 114,725 358,264 345,970 Same Property NOI $ 274,237 261,751 $ 826,259 782,700 % change 4.8 % 5.6 % Same Property NOI without Termination Fees $ 273,460 261,002 $ 821,113 778,545 % change 4.8 % 5.5 % Same Property NOI without Termination Fees or Redevelopments $ 233,476 225,015 $ 702,778 672,529 % change 3.8 % 4.5 % Percent Contribution to Same Property NOI Performance: Base rent 4.7 % 4.4 % Uncollectible lease income 0.2 % 0.3 % Net expense recoveries 0.5 % 0.8 % Other lease / property income -0.5 % 0.1 % Percentage rent -0.1 % 0.0 % Same Property NOI without Termination Fees (% impact) 4.8 % 5.5 % Reconciliation of Net Income Attributable to Common Shareholders to Same Property NOI: Net income attributable to common shareholders $ 105,960 98,056 $ 314,742 303,672 Less: Management, transaction, and other fees (6,720 ) (6,765 ) (20,776 ) (19,896 ) Other (1) (13,654 ) (12,115 ) (40,193 ) (37,428 ) Plus: Depreciation and amortization 102,799 100,955 299,108 299,508 General and administrative 27,060 25,073 74,140 75,443 Other operating expense 1,770 3,654 5,402 9,363 Other expense, net 45,897 34,290 145,610 94,898 Equity in income of investments in real estate partnerships excluded from NOI (2) 12,099 12,492 40,229 39,439 Net income attributable to noncontrolling interests 3,244 2,107 7,838 7,252 Preferred stock dividends and issuance costs 3,413 3,413 10,239 10,239 NOI 281,868 261,160 836,339 782,490 Less non-same property NOI (3) (7,631 ) 591 (10,080 ) 210 Same Property NOI $ 274,237 261,751 $ 826,259 782,700 Less: Termination fees (777 ) (749 ) (5,146 ) (4,155 ) Pro-rata same property NOI excluding termination fees $ 273,460 261,002 $ 821,113 778,545 (1) Includes straight-line rental income and expense, net of reserves, above and below market rent amortization, other fees, and noncontrolling interests. (2) Includes non-NOI income and expenses incurred at our unconsolidated Real Estate Partnerships, such as, but not limited to, straight-line rental income, above and below market rent amortization, depreciation and amortization, interest expense, and real estate gains and impairments. (3) Includes revenues and expenses attributable to Non-Same Property, Projects in Development, corporate activities, and noncontrolling interests. Supplemental Information 8 R econciliations of Non-GAAP Financial Measures For the Periods Ended September 30, 2025 and 2024 (in thousands, except per share data) Three Months Ended Year to Date 2025 2024 2025 2024 Reconciliation of Net Income Attributable to Common Shareholders to Nareit FFO: Net Income Attributable to Common Shareholders $ 105,960 98,056 $ 314,742 303,672 Adjustments to reconcile to Nareit Funds From Operations (1) : Depreciation and amortization (excluding FF&E) 109,933 107,801 321,296 319,765 Gain on sale of real estate, net of tax (7,432 ) (11,365 ) (7,187 ) (33,853 ) Provision for impairment of real estate 3,374 - 4,636 - Exchangeable operating partnership units 1,664 593 2,892 1,836 Nareit FFO $ 213,499 195,085 $ 636,379 591,420 Nareit FFO per share (diluted) $ 1.15 1.07 $ 3.46 3.20 Weighted average shares (diluted) 185,494 182,872 183,781 184,548 Reconciliation of Nareit FFO to Core Operating Earnings: Nareit FFO $ 213,499 195,085 $ 636,379 591,420 Adjustments to reconcile to Core Operating Earnings (1) : Not Comparable Items Merger transition costs - 2,375 - 7,069 Loss on early extinguishment of debt - - - 180 Certain Non-Cash Items Straight-line rent (6,773 ) (5,886 ) (20,070 ) (16,907 ) Uncollectible straight-line rent (509 ) (134 ) 611 1,899 Above/below market rent amortization, net (5,423 ) (5,370 ) (17,260 ) (17,910 ) Debt and derivative mark-to-market amortization 1,816 1,693 4,618 4,333 Core Operating Earnings $ 202,610 187,763 $ 604,278 570,084 Core Operating Earnings per share (diluted) $ 1.09 1.03 $ 3.29 3.09 Weighted average shares (diluted) 185,494 182,872 183,781 184,548 Reconciliation of Core Operating Earnings to AFFO: Core Operating Earnings $ 202,610 187,763 $ 604,278 570,084 Adjustments to reconcile to AFFO (1) : Operating capital expenditures (33,832 ) (36,430 ) (90,109 ) (91,168 ) Debt cost and derivative adjustments 2,423 2,107 6,849 6,269 Stock-based compensation 5,321 4,776 16,219 14,078 AFFO $ 176,522 158,216 $ 537,237 499,263 (1) Includes Regency’s consolidated entities and its pro-rata share of unconsolidated Real Estate Partnerships, net of pro-rata share attributable to noncontrolling interests, which can be found on page 4 and 7 . Supplemental Information 9 C apital Expenditures and Additional Disclosures For the Periods Ended September 30, 2025 and 2024 (in thousands) Three Months Ended Year to Date 2025 2024 2025 2024 Capital Expenditures: Operating Properties (1) Tenant allowance and landlord work $ 18,377 22,065 $ 51,236 59,785 Leasing commissions 5,345 4,014 15,888 12,269 Leasing Capital Expenditures 23,722 26,079 67,124 72,054 Building improvements 10,110 10,351 22,985 19,114 Operating Capital Expenditures $ 33,832 36,430 $ 90,109 91,168 Development & Redevelopment Properties (1) Ground-up development $ 38,758 23,332 $ 114,378 54,144 Redevelopment 45,692 42,608 110,393 104,364 Development & Redevelopment Expenditures $ 84,450 65,940 $ 224,771 158,508 Reconciliation of Net Income to Nareit EBITDA re : Net Income $ 112,617 103,576 $ 332,819 321,163 Adjustments to reconcile to Nareit EBITDA re (2) : Interest expense 58,949 53,844 170,675 157,053 Income tax expense 311 423 695 696 Depreciation and amortization 111,469 109,297 325,772 324,207 Gain on sale of real estate, net of tax (7,432 ) (11,365 ) (7,187 ) (33,853 ) Provision for impairment of real estate 3,374 - 4,636 - Nareit EBITDA re $ 279,288 255,775 $ 827,410 769,266 Reconciliation of Nareit EBITDAre to Operating EBITDAre: Nareit EBITDAre $ 279,288 255,775 $ 827,410 769,266 Adjustments to reconcile to Operating EBITDA re (2) : Merger transition costs - 2,375 - 7,069 Loss on early extinguishment of debt - - - 180 Straight-line rent, net (7,300 ) (5,938 ) (19,564 ) (15,695 ) Above/below market rent amortization, net (5,446 ) (5,366 ) (17,242 ) (17,918 ) Operating EBITDA re $ 266,542 246,846 $ 790,604 742,902 (1) Includes Regency's consolidated entities and its pro-rata share of unconsolidated Real Estate Partnerships, net of pro-rata share attributable to noncontrolling interests. (2) Includes Regency's consolidated entities and its pro-rata share of unconsolidated Real Estate Partnerships. Supplemental Information 10 S ummary of Consolidated Debt September 30, 2025 and December 31, 2024 (in thousands) Total Debt Outstanding: 9/30/2025 12/31/2024 Notes Payable: Fixed rate mortgage loans (1) $ 764,517 $ 610,234 Variable rate mortgage loans - 9,586 Fixed rate unsecured public debt 3,922,586 3,526,128 Fixed rate unsecured private debt 198,851 197,752 Unsecured credit facility: Revolving line of credit 30,000 65,000 Total $ 4,915,954 $ 4,408,700 Schedule of Maturities by Year: Scheduled Principal Payments Mortgage Loan Maturities Unsecured Maturities (2) Total Weighted Average Contractual Interest Rate on Maturities 2025 $ 3,160 16,000 250,000 269,160 3.90% 2026 12,836 147,851 200,000 360,687 3.94% 2027 10,051 222,558 525,000 757,609 3.65% 2028 8,365 51,939 330,000 390,304 4.43% 2029 5,619 97,120 425,000 527,739 3.19% 2030 5,445 2,163 600,000 607,608 3.70% 2031 5,263 30,902 - 36,165 3.68% 2032 3,120 57,121 400,000 460,241 4.84% 2033 2,992 - - 2,992 2034 3,117 - 400,000 403,117 5.25% >10 years 9,718 102,651 1,050,000 1,162,369 4.65% Unamortized debt premium/(discount), net of issuance costs - (33,474 ) (28,563 ) (62,037 ) $ 69,686 694,831 4,151,437 4,915,954 4.18% Percentage of Total Debt: 9/30/2025 12/31/2024 Fixed 99.4% 98.3% Variable 0.6% 1.7% Current Weighted Average Contractual Interest Rates: (3) Fixed 4.2% 4.1% Variable 5.0% 5.5% Combined 4.2% 4.1% Current Weighted Average Effective Interest Rate: (4) Combined 4.5% 4.4% Average Years to Maturity: Fixed 7.0 7.4 Variable 2.6 3.2 (1) Includes variable rate mortgage loans that have been fixed through interest rate swaps. (2) Includes unsecured public and private placement debt and any drawn balance on unsecured revolving line of credit. (3) Interest rates are calculated as of the quarter end. (4) Effective interest rates are calculated in accordance with US GAAP, as of the quarter end, and include the impact of debt premium/(discount) amortization, issuance cost amortization, interest rate swaps, and facility fees. Supplemental Information 11 D etails of Consolidated Debt September 30, 2025 and December 31, 2024 (in thousands) Contractual Effective Lender Collateral Rate Rate (1) Maturity 9/30/2025 12/31/2024 Secured Debt - Fixed Rate Mortgage Loans Prudential Insurance Company of America Country Walk Plaza 3.91% 11/05/25 $ 16,000 $ 16,000 Metropolitan Life Insurance Company Westbury Plaza 3.76% 02/01/26 88,000 88,000 M&T Bank Cos Cob Plaza & Greenwich Commons 3.48% 10/01/26 8,132 8,409 PNC Bank The Longmeadow Shops 5.56% 12/01/26 13,000 13,000 Santander Bank Baederwood Shoppes 3.28% 12/19/26 24,365 24,365 TD Bank Black Rock Shopping Center 6.03% 12/31/26 14,993 15,148 Voya Retire Insurance and Annuity Co. Meadtown Shopping Center 3.85% 01/01/27 8,842 9,070 Voya Retire Insurance and Annuity Co. Midland Park Shopping Center 3.85% 01/01/27 16,735 17,166 Voya Retire Insurance and Annuity Co. Valley Ridge Shopping Center 3.85% 01/01/27 15,841 16,249 Voya Retire Insurance and Annuity Co. Cedar Hill Shopping Center 3.85% 01/01/27 6,643 6,815 The Guardian Life Insurance of America Willa Springs 3.81% 03/01/27 16,700 16,700 The Guardian Life Insurance of America Alden Bridge 3.81% 03/01/27 26,000 26,000 The Guardian Life Insurance of America Bethany Park Place 3.81% 03/01/27 10,200 10,200 The Guardian Life Insurance of America Blossom Valley 3.81% 03/01/27 22,300 22,300 The Guardian Life Insurance of America Dunwoody Hall 3.81% 03/01/27 13,800 13,800 The Guardian Life Insurance of America Hasley Canyon Village 3.81% 03/01/27 16,000 16,000 PNC Bank Fellsway Plaza 4.06% 06/02/27 33,870 34,300 M&T Bank Ridgeway Shopping Center 3.40% 07/01/27 41,005 41,940 New York Life Insurance Oak Shade Town Center 6.05% 05/10/28 2,595 3,253 Provident Bank Washington Commons 4.83% 08/15/28 8,284 8,494 TD Bank Brick Walk Shopping Center 6.71% 09/19/28 30,327 30,591 New York Life Insurance Von's Circle Center 5.20% 10/10/28 2,848 3,475 Bank of New York Mellon Putnam Plaza 4.81% 10/17/28 16,629 - American United Life Insurance Company Ferry Plaza 4.63% 04/01/29 8,217 8,471 M&T Bank Old Kings Market 4.82% 04/03/29 22,238 22,607 Bank of New York Mellon Lakeview Shopping Center 3.63% 06/25/29 10,476 10,680 State Farm Brentwood Place 3.50% 09/01/29 43,500 - The Prudential Insurance Company of America Shops at Erwin Mill 5.71% 09/05/29 12,000 12,000 Bank of New York Mellon McLean Plaza 5.74% 11/18/29 5,000 5,000 Tanglewood Shopping Center Co. Tanglewood Shopping Center 5.05% 03/29/30 513 513 Tanglewood Shopping Center Co. Tanglewood Shopping Center 4.55% 03/29/30 1,650 1,650 Security Life of Denver Insurance Co. Newfield Green 3.89% 08/01/31 18,318 18,737 American United Life Insurance Company Village Shopping Center 3.50% 11/01/31 19,372 19,705 RGA Reinsurance Company Boonton Shopping Center 3.45% 01/01/32 10,182 10,358 Bank of New York Mellon The Dock-Dockside & The Dock-Railside 3.05% 01/31/32 32,323 32,908 Bank of New York Mellon High Ridge Center 5.55% 02/20/32 10,000 - City of Rollingwood Shops at Mira Vista 8.00% 03/01/32 141 151 John Hancock Terrace Shops 3.87% 06/01/32 14,082 - First County Bank Old Greenwich CVS 5.63% 06/01/37 811 846 John Hancock Sendero Marketplace 4.45% 07/01/37 6,600 - John Hancock Sendero Marketplace 4.52% 07/01/37 38,195 - State Farm Bridgepark Plaza 3.63% 03/01/38 17,664 - John Hancock Mercantile East 4.07% 08/01/38 33,000 - John Hancock Mercantile West 4.26% 10/01/38 40,600 - JTS Capital High Ridge Center 3.65% 03/01/25 - 8,825 PNC Bank Circle Marina Center 2.54% 03/17/25 - 24,000 Unamortized discount on assumed debt of acquired properties, net of issuance costs (33,474 ) (7,492 ) Total Fixed Rate Mortgage Loans 4.12% 4.46% $ 764,517 $ 610,234 Unsecured Debt Debt Offering (8/17/15) Fixed-rate unsecured 3.90% 11/03/25 $ 250,000 $ 250,000 Debt Placement (5/11/16) Fixed-rate unsecured 3.81% 05/11/26 100,000 100,000 Debt Placement (8/11/16) Fixed-rate unsecured 3.91% 08/11/26 100,000 100,000 Debt Offering (1/17/17) Fixed-rate unsecured 3.60% 02/01/27 525,000 525,000 Debt Offering (3/9/18) Fixed-rate unsecured 4.13% 03/15/28 300,000 300,000 Debt Offering (8/13/19) Fixed-rate unsecured 2.95% 09/15/29 425,000 425,000 Debt Offering (5/13/20) Fixed-rate unsecured 3.70% 06/15/30 600,000 600,000 Debt Offering (5/8/25) Fixed-rate unsecured 5.00% 07/15/32 400,000 - Debt Offering (1/18/24) Fixed-rate unsecured 5.25% 01/15/34 400,000 400,000 Debt Offering (8/15/24) Fixed-rate unsecured 5.10% 01/15/35 325,000 325,000 Debt Offering (1/17/17) Fixed-rate unsecured 4.40% 02/01/47 425,000 425,000 Debt Offering (3/6/19) Fixed-rate unsecured 4.65% 03/15/49 300,000 300,000 Revolving Line of Credit Variable-rate unsecured Adjusted SOFR + 0.685% (2) 03/23/28 30,000 65,000 Unamortized debt discount and issuance costs (28,563 ) (26,120 ) Total Unsecured Debt, Net of Discounts 4.19% 4.35% $ 4,151,437 $ 3,788,880 Variable Rate Mortgage Loans PNC Bank Market at Springwoods Village SOFR + 1.40% 03/28/27 $ - $ 3,750 Wells Fargo Bank Orangetown Shopping Center SOFR + 2.33% 10/01/28 - 5,885 Unamortized debt discount and issuance costs - (49 ) Total Variable Rate Mortgage Loans $ - $ 9,586 4.18% 4.47% $ 4,915,954 $ 4,408,700 (1) Effective interest rates are calculated in accordance with US GAAP, as of the quarter end, and include the impact of debt premium/(discount) amortization, issuance cost amortization, interest rate swaps, and facility and unused fees. (2) The interest rate is SOFR plus a 0.100% market adjustment ("Adjusted SOFR") plus our applicable margin of 0.685%. Rate applies to drawn balance only. Additional annual facility fee of 0.115% applies to entire $1.5 billion line of credit. Expiration is subject to two additional six-month periods at the Company’s option. Supplemental Information 12 S ummary of Unsecured Debt Covenants and Leverage Ratios September 30, 2025 (in thousands) Outstanding Unsecured Public Debt: Origination Maturity Rate Balance 08/17/15 11/01/25 3.900% $250,000 01/17/17 02/01/27 3.600% $525,000 03/09/18 03/15/28 4.125% $300,000 08/20/19 09/15/29 2.950% $425,000 05/13/20 06/15/30 3.700% $600,000 05/13/25 07/15/32 5.000% $400,000 01/18/24 01/15/34 5.250% $400,000 08/15/24 01/15/35 5.100% $325,000 01/17/17 02/01/47 4.400% $425,000 03/06/19 03/15/49 4.650% $300,000 Unsecured Public Debt Covenants: Required 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 Fair Market Value Calculation Method Covenants (1)(2) Total Consolidated Debt to Total Consolidated Assets ≤ 65% 28% 28% 27% 27% 27% Secured Consolidated Debt to Total Consolidated Assets ≤ 40% 4% 4% 4% 4% 4% Consolidated Income for Debt Service to Consolidated Debt Service ≥ 1.5x 4.7x 4.6x 4.8x 4.9x 4.9x Unencumbered Consolidated Assets to Unsecured Consolidated Debt >150% 378% 374% 380% 396% 397% Ratios: (3) 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 Consolidated Only Net debt to total market capitalization 25.5% 26.0% 25.0% 24.1% 24.2% Net debt to real estate assets, before depreciation 31.8% 32.2% 31.8% 30.8% 30.5% Net debt to total assets, before depreciation 29.4% 29.6% 29.4% 28.4% 28.1% Net debt and preferreds to Operating EBITDAre - TTM 4.8x 4.9x 4.9x 4.7x 4.7x Net debt and preferreds to Operating EBITDAre - TTM, adjusted (3) Fixed charge coverage 4.6x 4.6x 4.7x 4.7x 4.9x Interest coverage 5.2x 5.2x 5.3x 5.3x 5.6x Unsecured assets to total real estate assets 86.9% 88.3% 88.3% 88.8% 87.9% Unsecured NOI to total NOI - TTM 89.5% 89.4% 89.4% 89.3% 88.7% Unencumbered assets to unsecured debt 300% 295% 306% 319% 321% Total Pro-Rata Share Net debt to total market capitalization 27.7% 28.3% 27.3% 26.4% 26.6% Net debt to real estate assets, before depreciation 33.4% 33.8% 33.4% 32.5% 32.3% Net debt to total assets, before depreciation 30.7% 31.0% 30.8% 30.0% 29.7% Net debt and preferreds to Operating EBITDAre - TTM 5.3x 5.3x 5.3x 5.2x 5.2x Net debt and preferreds to Operating EBITDAre - TTM, adjusted (3) Fixed charge coverage 4.2x 4.2x 4.3x 4.3x 4.5x Interest coverage 4.7x 4.7x 4.8x 4.8x 5.1x (1) For a complete listing of all Debt Covenants related to the Company’s Senior Unsecured Notes, as well as definitions of the above terms, please refer to the Company’s filings with the Securities and Exchange Commission. (2) Current period debt covenants are finalized and submitted after the Company’s most recent Form 10-Q or Form 10-K filing. (3) In light of the merger with UBP on August 18, 2023, adjusted debt metric calculations include legacy Regency results for the trailing 12 months and the annualized contribution from UBP post merger. Supplemental Information 13 S ummary of Unconsolidated Debt September 30, 2025 and December 31, 2024 (in thousands) Total Debt Outstanding: 9/30/2025 12/31/2024 Mortgage loans payable: Fixed rate secured loans $ 1,485,000 $ 1,459,373 Variable rate secured loans 78,065 69,379 Unsecured credit facility variable rate 20,000 35,800 Total $ 1,583,065 $ 1,564,552 Schedule of Maturities by Year: Scheduled Principal Payments Mortgage Loan Maturities Unsecured Maturities Total Weighted Average Contractual Interest Rate on Maturities Regency's Pro Rata Share Regency's Pro Rata Weighted Average Contractual Interest Rate on Maturities 2025 $ 1,946 68,734 - 70,680 3.50% 28,127 3.50% 2026 7,131 293,335 20,000 320,466 5.38% 116,223 5.61% 2027 7,303 32,800 - 40,103 2.60% 13,417 2.41% 2028 4,097 231,235 - 235,332 4.86% 81,592 4.98% 2029 2,855 104,434 - 107,289 5.00% 37,157 5.26% 2030 2,349 215,893 - 218,242 3.39% 77,886 3.17% 2031 958 352,240 - 353,198 3.13% 137,264 3.13% 2032 585 206,533 - 207,118 3.56% 71,238 3.38% 2033 406 - - 406 0.00% 81 - 2034 210 37,497 - 37,707 6.11% 13,941 6.27% Unamortized debt premium/(discount) and issuance costs (2) - (7,476 ) - (7,476 ) (2,658 ) $ 27,840 1,535,225 20,000 1,583,065 4.14% 574,268 4.14% Percentage of Total Debt: 9/30/2025 12/31/2024 Fixed 93.8% 93.3% Variable 6.2% 6.7% Current Weighted Average Contractual Interest Rates: (1) Fixed 4.0% 3.9% Variable 6.7% 6.8% Combined 4.1% 4.1% Current Weighted Average Effective Interest Rates: (2) Combined 4.3% 4.2% Average Years to Maturity: Fixed 4.1 4.5 Variable 1.1 1.6 (1) Interest rates are calculated as of the quarter end. (2) Effective interest rates are calculated in accordance with US GAAP, as of the quarter end, and include the impact of debt premium/(discount) amortization, issuance cost, amortization, interest rate swaps, and facility and unused fees. Supplemental Information 14 U nconsolidated Real Estate Partnerships September 30, 2025 (in thousands) Regency Investment Partner and Number of Total Total Total Ownership Share Investment Equity Portfolio Summary Abbreviation Properties GLA Assets Debt Interest of Debt 9/30/2025 in Income State of Oregon (JV-C2) 23 2,649 $646,796 $305,367 20.00% $61,073 $60,745 $3,423 (JV-CCV) 1 607 97,833 74,847 30.00% 22,454 6,334 1,643 24 3,256 744,629 380,214 GRI (JV-GRI) (1) 66 8,470 1,444,433 931,813 40.00% 372,725 134,279 31,078 Publix (JV-O) 2 215 26,565 - 50.00% - 13,003 1,376 Individual Investors Ballard Blocks 2 249 113,740 - 49.90% - 58,362 1,310 Bloom on Third 1 73 273,914 146,220 35.00% 51,177 46,277 1,363 Others (2) (3) 6 859 197,178 124,818 11.80% - 83.00% 66,839 48,837 3,185 101 13,122 $2,800,459 $1,583,065 $574,268 $367,837 $43,378 (1) Subsequent to quarter end, the Company completed a property distribution with its partner involving 11 shopping centers within our Regency-GRI joint venture, resulting in Regency owning 100% of five properties and its partner owning 100% of six properties. (2) Effective January 1, 2025, Regency acquired its partner’s 33.3% share in a single property partnership for a total purchase price of $10.3 million. Upon acquisition, this property was consolidated into Regency’s financial statements. (3) Effective August 1, 2025, Regency acquired its partners' 50% shares in two single property partnerships for a total purchase price of $14.5 million and $9.2 million, respectively. Upon acquisition, these properties were consolidated into Regency’s financial statements. Supplemental Information 15 P roperty Transactions September 30, 2025 (in thousands) Acquisitions: Date Property Name Real Estate Partner (REG %) Market Total GLA REG Share of Purchase Price Weighted Average Cap Rate Anchor(s) Jan-25 Putnam Plaza 33% Partner Buyout Carmel, NY 189 $10,332 Top's Friendly Market Jan-25 Orange Meadow (Outparcel) Orange, CT 6 4,200 Mar-25 Brentwood Place Nashville, TN 319 118,500 TJ Maxx, Nordstrom Rack May-25 Armonk Square State of Oregon (20%) Armonk, NY 48 5,250 DeCicco & Sons Jul-25 Rancho Mission Viejo Portfolio (1) Orange County, CA 614 357,000 Aug-25 Chestnut Ridge Shopping Center 50% Partner Buyout Montvale, NJ 76 9,150 The Fresh Market Aug-25 Market at Springwoods Village 47% Partner Buyout Houston, TX 167 19,505 Kroger Aug-25 Baybrook East 50% Partner Buyout Houston, TX 156 14,549 H-E-B Property Acquisitions 1,575 $538,486 6.0% Dispositions: Date Property Name Real Estate Partner (REG %) Market Total GLA REG Share of Purchase Price Weighted Average Cap Rate (2) Anchor(s) Jun-25 Van Houten Plaza Passaic, NJ 42 $5,550 SuperFresh Supermarket Jul-25 101 7th Ave Manhattan, NY 57 11,000 Former Barneys Aug-25 200 Potrero San Francisco, CA 30 4,999 Sep-25 25 Valley Drive Greenwich, CT 18 5,980 Office Sep-25 321-323 Railroad Ave Greenwich, CT 21 9,500 Office All Other Dispositions (each individually less than $2.5M) 3 1,000 Property Dispositions 171 $38,029 5.1% (1) Rancho Mission Viejo portfolio includes: Bridgepark Plaza (102K SF), Mercantile East (239K SF), Mercantile West (150K SF), Sendero Marketplace (82K SF), and Terrace Shops (41K SF) (2) Disposition cap rate of 5.1% excludes the $11M sale of 101 7th Avenue on 7/1/2025, which was vacant at the time of closing. Supplemental Information 16 S ummary of Developments and Redevelopments September 30, 2025 (in thousands) In-Process Developments and Redevelopments (1) Shopping Center 0 Market Grocer/Anchor Tenant Center % Leased Project Start Est Initial Rent Commencement (a) Est Stabilization Year (b) Net Project Costs (c) % of Costs Incurred Stabilized Yield (d) Ground-up Developments 71% 0 $371M 54% 7% +/- Sienna Grande Shops (2)(3) 0 Houston, TX Retail 65% Q2-2023 1H-2025 2028 $9M 88% 8% +/- The Shops at SunVet (2) 0 Long Island, NY Whole Foods 74% Q2-2023 1H-2026 2027 $93M 86% 7% +/- The Shops at Stone Bridge (2) 0 Cheshire, CT Whole Foods 91% Q1-2024 2H-2025 2026 $68M 83% 7% +/- Jordan Ranch Market (2)(3) 0 Houston, TX H-E-B 92% Q3-2024 1H-2026 2027 $23M 56% 7% +/- Oakley Shops at Laurel Fields (2) 0 Bay Area, CA Safeway 89% Q3-2024 1H-2026 2027 $36M 76% 7% +/- The Village at Seven Pines (2) Jacksonville, FL Publix 45% Q3-2025 1H-2027 2028 $112M 13% 8% +/- Ellis Village Center (South) (2) Bay Area, CA Sprouts 64% Q3-2025 2H-2026 2028 $30M 4% 7% +/- Redevelopments 95% 0 $297M 48% 10% +/- Bloom on Third (3)(4) 0 Los Angeles, CA Whole Foods 88% Q4-2022 2H-2026 2027 $25M 69% 15% +/- Serramonte Center - Phase 3 0 San Francisco, CA Jagalchi 96% Q2-2023 1H-2025 2026 $37M 46% 11% +/- Avenida Biscayne 0 Miami, FL Retail 93% Q4-2023 1H-2025 2026 $22M 77% 11% +/- Cambridge Square 0 Atlanta, GA Publix 100% Q4-2023 2H-2025 2026 $13M 92% 7% +/- Anastasia Plaza 0 Jacksonville, FL Publix 98% Q3-2024 2H-2025 2026 $16M 64% 6% +/- West Chester Plaza 0 Cincinnati, OH Kroger 100% Q4-2024 2H-2027 2028 $15M 34% 8% +/- Willows Shopping Center 0 Bay Area, CA Retail 97% Q4-2024 1H-2026 2027 $17M 25% 9% +/- The Crossing Clarendon 0 Metro DC Whole Foods 94% Q2-2025 1H-2026 2027 $14M 14% 7% +/- East Meadow Plaza - Phase 1 0 Long Island, NY Lidl 88% Q3-2024 2H-2025 2026 $12M 63% 17% +/- East Meadow Plaza - Phase 2A Long Island, NY Lidl 88% Q3-2025 2H-2026 2027 $16M 12% 8% +/- Various Redevelopments (est costs < $10 million individually) 94% $111M 42% 13% +/- Total In-Process (In Construction) 0 $668M 51% 9% +/- Current Year Development and Redevelopment Completions Shopping Center Market Project Start Est Initial Rent Commencement (a) Est Stabilization Year (b) Net Project Costs (c) % of Costs Incurred Stabilized Yield (d) Ground-up Developments 0 $10M 95% 10% +/- Baybrook East - Phase 1B (2)(3) Houston, TX Q2-2022 2H-2023 2026 $10M 95% 10% +/- Redevelopments $39M 95% 15% +/- Circle Marina Shops & Marketplace Los Angeles, CA Q3-2023 2H-2024 2025 $15M 94% 9% +/- Redevelopment Completions (est costs < $10 million individually) - $23M 96% 20% +/- Total Completions $48M 95% 14% +/- (a) Estimated Initial Rent Commencement represents the estimated date that the anchor or first tenants at each project will rent commence. (b) Estimated Stabilization Year represents the estimated year that the project will reach the stated stabilized yield on an annualized basis. (c) Represents Regency's pro-rata share of net project costs. (d) A stabilized yield for a redevelopment property represents the incremental NOI (estimated stabilized NOI less NOI prior to project commencement) divided by the total project costs. (1) Scope, economics and timing of development and redevelopment projects can change materially from estimates provided. (2) Ground-up development or redevelopment that is excluded from the Same Property NOI pool. (3) Estimated costs represent Regency's pro-rata share: Baybrook East (50%); Sienna Grande Shops (75%); Jordan Ranch Market (50%); and Bloom on Third (35%) (4) GLA and % Leased represents: Bloom on Third – fully redeveloped center (existing center is 73k SF and 100% leased) Note: Regency’s Estimate of Net GAAP Project Costs, after additional interest and overhead capitalization, is $739M for Ground-up Developments and Redevelopments In-Process. Percent of costs incurred is 52% for Ground-up Developments and Redevelopments In-Process. Supplemental Information 17 Summar y of In-Process Developments and Redevelopments September 30, 2025 In-Process Development and Redevelopment Descriptions 0 Ground-up Developments 0 Sienna Grande Shops 0 Phase 1 features approximately 30K SF of shop space and outparcels in a master-planned development outside of Houston, TX, ranked among the top-selling communities nationally. The Shops at SunVet 0 Located in Long Island, NY, the project will transform a vacant enclosed mall into a 170K SF open-air center featuring Whole Foods, junior anchors, shop space, and outparcels. The Shops at Stone Bridge 0 155K SF development anchored by a 40K SF Whole Foods, junior anchors, shop space, and outparcels located in the Stone Bridge Crossing master planned community in Cheshire, CT. Jordan Ranch Market 0 Located outside of Houston, TX, within the Jordan Ranch master planned community, the 162K development will feature the market-leading grocer, H-E-B, plus 40K SF of shop space. Oakley Shops at Laurel Fields 0 Located in the Bay Area, the 78K SF development of a traditional neighborhood center will include a 55K SF Safeway grocer and 23K SF of shop space. The Village at Seven Pines 0 239K SF center anchored by Publix, leading restaurants and retailers, and Class A office space that will serve as Regency’s new corporate headquarters. Ellis Village Center (South) 0 Located in the Bay Area, 49K SF shopping center anchored by Sprouts and multiple shop buildings. Redevelopments 0 Bloom on Third 0 Redevelopment in Los Angeles, CA, which includes new retail space and a ground lease for mid-rise luxury apartments constructed and operated by a leading multifamily developer. Serramonte Center - Phase 3 0 Former J.C. Penney box and two exterior pads. The former J.C. Penney box will feature Jagalchi, a leading Asian grocer with locations in South Korea, China, and the US. Avenida Biscayne 0 A boutique retail project in Aventura, FL, that includes transformation of the property into three separate retail buildings, featuring first-class shop space and restaurants. Cambridge Square 0 Transformational redevelopment adding a best-in-class grocer and featuring extensive improvement to the site and existing facades. Anastasia Plaza 0 Redevelopment to include a complete rebuild of the grocer box, anchored by a 58K SF Publix and 45K SF of shop space, plus extensive improvements to the site and existing facades. West Chester Plaza 0 Redevelopment includes a new 123K SF Kroger and multiple shop buildings. The project will be staggered to accommodate continuous operation of Kroger in its existing location. Willows Shopping Center 0 Redevelopment will revitalize the existing shopping center and include extensive site reconfiguration, construction of a new 14K SF building, and enhanced façades. The Crossing Clarendon 0 Reconfiguration of a two-level junior anchor box, with multiple leading retailers, plus façade enhancements and other site improvements. East Meadow Plaza - Phase 1 0 Acquired in 2022 with the intention of redevelopment. Phase 1 includes various site improvements, complete facade renovation, and reconfigured space for leading retailers. East Meadow Plaza - Phase 2A 0 Phase 2A includes demolition of a vacant office building, plus the addition of multiple outparcel buildings and other site enhancements. Various Redevelopments (est costs < $10 million individually) 0 Various Redevelopment properties where estimated incremental costs at each project are less than $10 million. Supplemental Information 18 L easing Statistics September 30, 2025 (Retail Operating Properties Only) Leasing Statistics - Comparable Total Leasing Transactions GLA (in 000s) New Base Rent/Sq. Ft Rent Spread % (Cash) Rent Spread % (Straight-lined) Weighted Avg. Lease Term Tenant Allowance & Landlord Work /Sq. Ft. 3rd Quarter 2025 366 1,821 $27.88 12.8% 22.9% 6.6 $6.29 2nd Quarter 2025 422 1,915 26.29 10.0% 19.3% 5.9 7.21 1st Quarter 2025 384 1,409 28.22 8.1% 18.6% 5.4 6.22 4th Quarter 2024 426 2,298 27.49 10.8% 20.2% 6.1 9.28 Total - 12 months 1,598 7,442 $27.41 10.5% 20.3% 6.1 $7.40 New Leases Leasing Transactions GLA (in 000s) New Base Rent/Sq. Ft Rent Spread % (Cash) Rent Spread % (Straight-lined) Weighted Avg. Lease Term Tenant Allowance & Landlord Work /Sq. Ft. 3rd Quarter 2025 92 339 $32.80 28.3% 41.9% 10.7 $29.73 2nd Quarter 2025 102 307 36.73 14.4% 27.7% 9.9 46.36 1st Quarter 2025 84 187 38.29 8.8% 22.7% 8.0 42.52 4th Quarter 2024 101 328 34.40 15.9% 31.4% 9.0 58.79 Total - 12 months 379 1,161 $35.18 17.2% 31.3% 9.6 $44.12 Renewals Leasing Transactions GLA (in 000s) New Base Rent/Sq. Ft Rent Spread % (Cash) Rent Spread % (Straight-lined) Weighted Avg. Lease Term Tenant Allowance & Landlord Work /Sq. Ft. 3rd Quarter 2025 274 1,481 $26.80 9.3% 18.3% 5.7 $1.13 2nd Quarter 2025 320 1,608 24.54 8.9% 17.2% 5.3 0.64 1st Quarter 2025 300 1,222 26.66 7.9% 17.6% 5.0 0.58 4th Quarter 2024 325 1,969 26.37 9.8% 17.9% 5.6 1.29 Total - 12 months 1,219 6,280 $26.05 9.1% 17.8% 5.4 $0.94 Leasing Statistics - Comparable and Non-comparable Total Leasing Transactions GLA (in 000s) New Base Rent/Sq. Ft Weighted Avg. Lease Term Tenant Allowance & Landlord Work /Sq. Ft. 3rd Quarter 2025 452 2,265 $25.92 7.5 $8.35 2nd Quarter 2025 491 2,098 27.28 5.8 10.27 1st Quarter 2025 443 1,593 28.73 5.7 12.24 4th Quarter 2024 511 2,673 27.41 6.4 16.02 Total - 12 months 1,897 8,629 $27.23 6.4 $11.86 Notes: • Represents Regency's consolidated and pro-rata share of real estate partnerships. Number of leasing transactions and GLA leased reported at 100%; All other statistics reported at pro-rata share. • All amounts reported at execution. • Rent Spreads are calculated on a comparable-space, cash basis for new and renewal leases executed and include all leasing transactions, including spaces vacant > 12 months. • Rent Spreads % (Cash) represent the percentage change between the initial 12 months of rent of the executed lease and the last contractual rent as of the move out date of the prior lease. • Rent Spreads % (Straight-lined) represent the percentage change between the average rent over the duration of the executed lease and the average rent over the duration of the prior lease. • Tenant Allowance & Landlord Work includes costs for landlord work required to return space to a baseline condition, as well as tenant allowances and improvements as it relates to a specific lease. Supplemental Information 19 New Lease Net Effective Rent and Leases Signed Not Yet Commenced September 30, 2025 (Retail Operating Properties Only) New Lease Net Effective Rent (1) Trailing Twelve Months Three Months Ended 9/30/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 New Leases weighted avg. over lease term: Base rent $35.76 $30.29 $42.01 $38.91 $35.68 $32.23 Tenant allowance and landlord work (2) (5.24) (3.25) (6.00) (5.57) (6.68) (5.91) Third party leasing commissions (1.16) (0.82) (1.40) (1.44) (1.22) (1.06) Net Effective Rent $29.35 $26.22 $34.62 $31.90 $27.79 $25.26 Net effective rent/base rent 82% 87% 82% 82% 78% 78% Weighted avg. lease term (years) 10.3 12.8 9.5 8.4 9.4 9.3 Percent of New Leases by Anchor & Shop Anchor 39% 56% 27% 28% 35% 40% Shop 61% 44% 73% 72% 65% 60% Leases Signed Not Yet Commenced (3) As of 9/30/2025: Leases GLA (in 000s) Annual ABR ($ in 000s) Annual ABR ($ PSF) Anchor 22 394 $8,685 $27.86 Shop 290 734 27,177 42.04 Total 312 1,128 $35,862 $37.43 (1) Includes comparable and non-comparable leasing transactions. (2) Tenant Allowance & Landlord Work includes costs for landlord work required to return space to a baseline condition, as well as tenant allowances and improvements as it relates to a specific lease. (3) Only represents leases on spaces that are currently vacant. Note: Represents Regency's wholly owned and pro-rata share of real estate partnerships, except GLA which is shown at 100%. Supplemental Information 20 A n nual Base Rent by State September 30, 2025 (in thousands) State Number of Properties GLA % Leased (1) ABR ABR/Sq. Ft. % of Number of Properties % of GLA % of ABR California 77 9,939 95.7% $301,326 $31.70 15.9% 19.8% 24.4% Florida 93 11,043 95.9% 231,109 22.00 19.2% 22.0% 18.7% New York 46 3,665 94.2% 107,577 31.38 9.5% 7.3% 8.7% Connecticut 42 3,962 94.8% 103,151 27.45 8.7% 7.9% 8.3% Texas 33 3,931 97.0% 82,076 21.65 6.8% 7.8% 6.6% Georgia 22 2,145 95.6% 51,751 25.30 4.5% 4.3% 4.2% Virginia 20 1,655 97.6% 50,095 31.23 4.1% 3.3% 4.0% New Jersey 20 1,697 95.6% 40,716 25.09 4.1% 3.4% 3.3% North Carolina 17 1,612 97.8% 37,395 23.82 3.5% 3.2% 3.0% Washington 17 1,268 97.2% 36,363 30.01 3.5% 2.5% 2.9% Illinois 11 1,362 97.9% 30,025 22.51 2.3% 2.7% 2.4% Massachusetts 8 905 96.8% 28,339 32.35 1.6% 1.8% 2.3% Colorado 19 1,415 97.8% 24,968 18.03 3.9% 2.8% 2.0% Pennsylvania 10 722 96.7% 19,512 27.94 2.1% 1.4% 1.6% Maryland 11 622 98.5% 18,669 30.98 2.3% 1.2% 1.5% Ohio 8 1,226 98.9% 16,814 14.02 1.6% 2.4% 1.4% Oregon 8 784 95.7% 16,670 22.23 1.6% 1.6% 1.3% Minnesota 5 390 78.4% 6,820 22.35 1.0% 0.8% 0.6% Indiana 3 345 98.5% 6,383 18.83 0.6% 0.7% 0.5% Tennessee 4 638 98.7% 12,180 19.38 0.8% 1.3% 1.0% Delaware 2 258 93.5% 4,690 19.57 0.4% 0.5% 0.4% Missouri 4 408 99.3% 4,568 11.26 0.8% 0.8% 0.4% South Carolina 2 83 100.0% 2,288 27.60 0.4% 0.2% 0.2% Rhode Island 1 111 98.7% 2,344 21.36 0.2% 0.2% 0.2% Washington, D.C. 2 30 100.0% 1,599 54.09 0.4% 0.1% 0.1% Total All Properties 485 50,218 96.0% $1,237,428 $25.77 100% 100% 100% Note: Represents Regency's consolidated and pro-rata share of real estate partnerships. (1) Includes Properties in Development and leases that are executed but have not commenced. Supplemental Information 21 A n nual Base Rent by CBSA September 30, 2025 (in thousands) Largest CBSAs by Population (1) Number of Properties GLA % Leased (2) ABR ABR/Sq. Ft. % of Number of Properties % of GLA % of ABR 1) New York-Newark-Jersey City 64 4,989 94.5% $147,898 $31.38 13.2% 9.9% 12.0% 2) Los Angeles-Long Beach-Anaheim 30 3,171 97.6% $104,125 $33.65 6.2% 6.3% 8.4% 3) Chicago-Naperville-Elgin 12 1,651 98.3% $35,260 $21.73 2.5% 3.3% 2.8% 4) Dallas-Fort Worth-Arlington 11 917 98.2% $21,286 $23.65 2.3% 1.8% 1.7% 5) Houston-Woodlands-Sugar Land 16 2,130 96.6% $41,535 $20.18 3.3% 4.2% 3.4% 6) Atlanta-SandySprings-Alpharett 22 2,145 98.1% $51,751 $25.23 4.5% 4.3% 4.2% 7) Washington-Arlington-Alexandri 26 1,841 95.6% $58,150 $32.20 5.4% 3.7% 4.7% 8) Philadelphia-Camden-Wilmington 10 1,166 95.7% $20,274 $18.17 2.1% 2.3% 1.6% 9) Miami-Ft Lauderdale-PompanoBch 40 5,180 95.9% $123,197 $24.80 8.2% 10.3% 10.0% 10) Phoenix-Mesa-Chandler - - - - - - - - 11) Boston-Cambridge-Newton 8 918 97.5% $27,603 $30.84 1.6% 1.8% 2.2% 12) San Francisco-Oakland-Berkeley 19 3,442 93.1% $101,610 $31.72 3.9% 6.9% 8.2% 13) Rvrside-San Bernardino-Ontario 1 114 100.0% $3,294 $28.91 0.2% 0.2% 0.3% 14) Detroit-Warren-Dearborn - - - - - - - - 15) Seattle-Tacoma-Bellevue 17 1,268 97.2% $36,363 $29.49 3.5% 2.5% 2.9% 16) Minneapol-St. Paul-Bloomington 5 390 78.4% $6,820 $22.33 1.0% 0.8% 0.6% 17) Tampa-St Petersburg-Clearwater 9 1,309 97.9% $27,996 $21.56 1.9% 2.6% 2.3% 18) San Diego-Chula Vista-Carlsbad 10 1,383 99.2% $43,735 $32.31 2.1% 2.8% 3.5% 19) Denver-Aurora-Lakewood 11 947 97.8% $16,393 $17.69 2.3% 1.9% 1.3% 20) Orlando-Kissimmee-Sanford 7 833 97.4% $17,031 $21.20 1.4% 1.7% 1.4% 21) Charlotte-Concord-Gastonia 4 609 99.3% $15,634 $26.39 0.8% 1.2% 1.3% 22) Baltimore-Columbia-Towson 4 267 96.5% $7,492 $28.59 0.8% 0.5% 0.6% 23) St. Louis 4 408 98.3% $4,568 $11.26 0.8% 0.8% 0.4% 24) San Antonio-New Braunfels - - - - - - - - 25) Austin-Round Rock-Georgetown 6 885 94.5% $19,255 $22.56 1.2% 1.8% 1.6% 26) Portland-Vancouver-Hillsboro 5 442 96.5% $9,604 $22.99 1.0% 0.9% 0.8% 27) Sacramento-Roseville-Folsom 4 318 99.4% $7,538 $23.86 0.8% 0.6% 0.6% 28) Pittsburgh - - - - - - - - 29) Las Vegas-Henderson-Paradise - - - - - - - - 30) Cincinnati 5 897 98.8% $12,756 $14.39 1.0% 1.8% 1.0% 31) Kansas City - - - - - - - - 32) Nashvil-Davdsn-Murfree-Frankln 4 638 90.4% $12,180 $19.35 0.8% 1.3% 1.0% 33) Indianapolis-Carmel-Anderson 2 56 98.7% $1,147 $22.85 0.4% 0.1% 0.1% 34) Cleveland-Elyria - - - - - - - - 35) San Jose-Sunnyvale-Santa Clara 6 653 95.1% $20,535 $33.03 1.2% 1.3% 1.7% 36) Virginia Beach-Norfolk-Newport News - - - - - - - - 37) Jacksonville 21 2,166 93.4% $36,471 $18.02 4.3% 4.3% 2.9% 38) Providence-Warwick - - - - - - - - 39) Raleigh-Cary 9 705 - $16,319 $23.52 1.9% 1.4% 1.3% 40) Milwaukee-Waukesha - - 98.4% - - - - - 41) Oklahoma City - - - - - - - - 42) Louisville/Jefferson County - - - - - - - - 43) Memphis - - - - - - - - 44) Salt Lake City - - - - - - - - 45) Birmingham-Hoover - - - - - - - - 46) Fresno - - - - - - - - 47) Grand Rapids-Kentwood - - 97.4% - - - - - 48) Buffalo-Cheektowaga - - - - - - - - 49) Hartford-E Hartford-Middletown 2 304 - $6,195 $20.92 0.4% 0.6% 0.5% 50) Tucson - - - - - - - - Top 50 CBSAs by Population 394 42,140 96.1% $1,054,014 $26.15 81.2% 83.9% 85.2% CBSAs Ranked 51 - 75 by Population 48 4,039 95.3% $112,632 $29.20 9.9% 8.0% 9.1% CBSAs Ranked 76 - 100 by Population 22 1,996 95.6% $36,724 $19.21 4.5% 4.0% 3.0% Other CBSAs 21 2,042 95.8% $34,058 $17.50 4.3% 4.1% 2.8% Total All Properties 485 50,218 96.0% $1,237,428 $25.77 100.0% 100.0% 100.0% Note: Represents Regency's consolidated and pro-rata share of real estate partnerships (1) Population Data Source: ESRI (2) Includes Properties in Development and leases that are executed but have not commenced. Supplemental Information 22 A nnual Base Rent By Tenant Category September 30, 2025 Tenant Category Exposure % of ABR (1) Grocery 20% Restaurant - Quick Service/Fast Casual 14% Personal Services 7% Medical 7% Restaurant - Full Service 6% Fitness 5% Off-Price 5% Apparel/Accessories 5% Banks 5% Business Services 4% Hobby/Sports 3% Pet 3% Home 3% Other 3% Pharmacy 2% Office/Communications 2% Home Improvement/Auto 2% Liquor/Wine/Beer 2% Beauty/Cosmetics 1% Entertainment 1% Anchor/Shop Exposure % of ABR Shop 58% Anchor 42% (1) Represents Regency's consolidated and pro-rata share of real estate partnerships; includes properties in development, excludes leases that are executed but have not rent commenced. Supplemental Information 23 S ignificant Tenant Rents (Includes Tenants ≥ 0.5% of ABR) September 30, 2025 (in thousands) # Tenant Tenant GLA % of Company-Owned GLA Total Annualized Base Rent % of Total Annualized Base Rent Total # of Leased Stores 1 Publix 2,979 5.9% $35,473 2.9% 68 2 Albertsons Companies, Inc. (1) 2,118 4.2% 34,726 2.8% 53 3 TJX Companies, Inc. (2) 1,840 3.7% 33,721 2.7% 76 4 Amazon/Whole Foods 1,296 2.6% 31,136 2.5% 39 5 Kroger Co. (3) 2,927 5.8% 30,865 2.5% 52 6 Ahold Delhaize (4) 915 1.8% 22,553 1.8% 20 7 CVS 817 1.6% 22,319 1.8% 68 8 JPMorgan Chase Bank 218 0.4% 11,960 1.0% 61 9 Trader Joe's 326 0.6% 11,658 0.9% 31 10 L.A. Fitness Sports Club 516 1.0% 11,242 0.9% 14 11 Nordstrom (5) 402 0.8% 11,009 0.9% 12 12 Starbucks 160 0.3% 10,107 0.8% 100 13 Ross Dress For Less 587 1.2% 9,719 0.8% 25 14 H.E. Butt Grocery Company (6) 706 1.4% 9,686 0.8% 8 15 Bank of America 164 0.3% 9,010 0.7% 42 16 Gap, Inc. (7) 259 0.5% 8,650 0.7% 20 17 Target 771 1.5% 8,587 0.7% 7 18 Wells Fargo Bank 149 0.3% 8,485 0.7% 48 19 JAB Holding Company (8) 175 0.3% 7,426 0.6% 61 20 Xponential Fitness (9) 167 0.3% 6,772 0.5% 99 21 Petco Health & Wellness Company, Inc. (10) 275 0.5% 6,762 0.5% 26 22 Walgreens Boots Alliance (11) 258 0.5% 6,749 0.5% 23 23 Kohl's 526 1.0% 6,389 0.5% 7 24 Ulta 205 0.4% 6,105 0.5% 24 25 Five Below 209 0.4% 5,977 0.5% 27 Top Tenants 18,965 37.3% $367,086 29.7% 1,011 (1) Safeway 21 / VONS 8 / Acme 7 / Albertson's 5 / Shaw's 3 / Tom Thumb 3 / Randalls 2 / Star Market 1 / Pavilions 1 / King's Food Market 1 / Jewel-Osco 1 (2) TJ Maxx 28 / Marshalls 24 / Homegoods 21 / Homesense 2 / Sierra Trading Post 1 (3) Kroger 19 / King Soopers 11 / Ralphs 9 / Harris Teeter 8 / Mariano's Fresh Market 3 / Quality Food Centers 2 (4) Stop & Shop 10 / Giant 9 / Food Lion 1 (5) Nordstrom Rack 12 (6) H.E.B. 7 / Central Market 1 (7) Old Navy 12 / Athleta 2 / The Gap 4 / Banana Republic 2 (8) Panera 29 / Peet's Coffee & Tea 11 / Einstein Bros Bagels 10 / Bruegger's Bagel 5 / Krispy Kreme 3 / Noah's NY Bagels 3 (9) Club Pilates 50 / Pure Barre 16 / Stretchlab 13 / Yoga Six 9 / Row House 5 / Cyclebar 4 / BFT 2 (10) Petco 23 / Unleashed by Petco 3 (11) Walgreens 23 Note: Represents Regency's consolidated and pro-rata share of real estate partnerships, includes properties in development and leases that are executed but have not rent commenced. Amounts may not foot due to rounding. Supplemental Information 24 T enant Lease Expirations September 30, 2025 (GLA in thousands) Anchor Tenants Year GLA Percent of GLA Percent of Total ABR (1) ABR MTM (2) 44 0.1% 0.0% $13.33 2025 202 0.4% 0.2% 14.12 2026 1,772 3.7% 2.3% 15.48 2027 3,782 8.0% 5.2% 16.85 2028 3,596 7.6% 5.2% 17.57 2029 4,417 9.3% 5.6% 15.55 2030 3,812 8.0% 5.6% 17.97 2031 2,325 4.9% 3.3% 17.26 2032 1,058 2.2% 1.6% 18.25 2033 1,156 2.4% 1.9% 20.00 2034 1,075 2.3% 1.6% 18.49 10 Year Total 23,239 48.9% 32.7% $17.10 Thereafter 6,384 13.4% 9.3% 17.72 29,624 62.4% 42.0% $17.23 Shop Tenants Year GLA Percent of GLA Percent of Total ABR (1) ABR MTM (2) 221 0.5% 0.6% $30.56 2025 253 0.5% 0.8% 37.36 2026 2,010 4.2% 6.2% 37.58 2027 2,611 5.5% 8.1% 37.79 2028 2,512 5.3% 8.3% 40.04 2029 2,309 4.9% 7.5% 39.78 2030 2,168 4.6% 7.1% 40.02 2031 1,288 2.7% 4.1% 38.80 2032 1,077 2.3% 3.6% 40.73 2033 999 2.1% 3.4% 41.30 2034 817 1.7% 2.9% 42.88 10 Year Total 16,264 34.3% 52.6% $39.33 Thereafter 1,588 3.3% 5.5% 41.95 17,852 37.6% 58.0% $39.57 All Tenants Year GLA Percent of GLA Percent of Total ABR (1) ABR MTM (2) 265 0.6% 0.6% $27.70 2025 455 1.0% 1.0% 27.03 2026 3,781 8.0% 8.5% 27.22 2027 6,393 13.5% 13.3% 25.41 2028 6,108 12.9% 13.5% 26.81 2029 6,726 14.2% 13.2% 23.87 2030 5,980 12.6% 12.8% 25.96 2031 3,613 7.6% 7.4% 24.93 2032 2,135 4.5% 5.2% 29.59 2033 2,155 4.5% 5.3% 29.88 2034 1,892 4.0% 4.5% 29.02 10 Year Total 39,503 83.2% 85.2% $26.25 Thereafter 7,972 16.8% 14.8% 22.54 47,475 100% 100% $25.63 Notes: Reflects commenced leases only. Does not account for contractual rent steps and assumes that no tenants exercise renewal options. Amounts may not foot due to rounding. (1) Total Annual Base Rent ("ABR") excludes additional rent such as percentage rent, common area maintenance, real estate taxes, and insurance reimbursements. Represents Regency's consolidated and pro-rata share of real estate partnerships. (2) Month to month lease or in process of renewal. Supplemental Information 25 C omponents of Net Asset Value (NAV) As of September 30, 2025 (unaudited and in thousands) Real Estate: Operating Operating Portfolio NOI Excluding Straight-line Rent and Above/Below Market Rent - Current Quarter Consolidated NOI (page 6) $256,643 Share of Unconsolidated JV NOI (page 7) $27,223 Less: Noncontrolling Interests (page 7) $(1,998) NOI $281,868 Quarterly Base Rent From Leases Signed But Not Yet Rent-Paying Retail Operating Properties Excluding In-Process Redevelopments (Quarterly) $7,235 Retail Operating Properties Including In-Process Redevelopments (Quarterly) $8,966 Real Estate: In-Process Ground-Up Developments and Redevelopments In-Process Ground-Up Development REG's Estimated Net Project Costs (page 17) $371,000 Stabilized Yield (page 17) 7% Annualized Proforma Stabilized NOI $25,970 % of Costs Incurred (page 17) 54% Construction in Progress $200,340 NOI from In-Process Ground-Up Development - Current Quarter In-place NOI from Current Year Ground-Up Development Completions $449 In-place NOI from In-Process Ground-Up Developments $377 In-Process Redevelopment Projects REG's Estimated Net Project Costs (page 17) $297,000 Stabilized Yield (page 17) 10% Annualized Proforma Stabilized NOI $29,700 48% Construction in Progress $142,560 NOI from In-Process Redevelopment - Current Quarter In-place NOI from Current Year Redevelopment Completions $1,062 In-place NOI from In-Process Redevelopments $414 Fee Income Third-Party Management Fees and Commissions - Current Quarter (page 6) $6,720 Less: Share of JV's Total fee income - Current Quarter (page 7) $(267) Other Assets Estimated Market Value of Land Land held for sale or future development $32,277 Outparcels at retail operating properties $5,741 Total Estimated Market Value of Land $38,018 Regency's Pro-Rata Share (page 3 & 4) Cash and Cash Equivalents $177,163 Tenant and other receivables, excluding Straight line rent receivables $83,242 Other Assets, excluding Goodwill $198,596 Liabilities Regency's Pro-Rata Share (page 3 & 4) Notes payable $5,464,905 Accounts payable and other liabilities $424,926 Tenants' security, escrow deposits $84,819 Preferred Stock $225,000 Common Shares and Equivalents Outstanding Common Shares and Equivalents Issued and Outstanding (page 1) 186,070 Supplemental Information 26 E arnings Guidance September 30, 2025 Full Year 2025 Guidance (in thousands, except per share data) YTD Actual Current 2025 Guidance Prior 2025 Guidance Net Income Attributable to Common Shareholders per diluted share $1.73 $2.30 - $2.32 $2.28 - $2.32 Nareit Funds From Operations (“Nareit FFO”) per diluted share $3.46 $4.62 - $4.64 $4.59 - $4.63 Core Operating Earnings per diluted share (1) $3.29 $4.39 - $4.41 $4.36 - $4.40 Same property NOI growth without termination fees 5.5% +5.25% to +5.5% +4.5% to +5.0% Non-cash revenues (2) $36,802 +/-$49,000 +/- $49,000 G&A expense, net (3) $72,396 +/-$96,000 $93,000-$96,000 Interest expense, net and Preferred stock dividends (4) $175,524 $235,000-$237,000 $235,000-$237,000 Management, transaction and other fees $19,982 +/-$27,000 +/-$27,000 Development and Redevelopment spend $224,771 +/-$300,000 +/-$300,000 Acquisitions $538,486 $538,500 +/-$500,000 Cap rate (weighted average) 6.0% 6.0% +/- 6.0% Dispositions $38,029 $110,000 +/-$75,000 Cap rate (weighted average) (5) 5.1% 5.6% +/- 5.5% Share/unit issuances (6) $249,662 $300,000 $300,000 Reconciliation of Net Income to Earnings Guidance (per diluted share) Full Year 2025 Low High Net income attributable to common shareholders $2.30 2.32 Adjustments to reconcile net income to Nareit FFO: Depreciation and amortization (excluding FF&E) 2.30 2.30 Provision for impairment 0.03 0.03 Gain on sale of real estate, net of tax (0.04) (0.04) Exchangeable operating partnership units 0.03 0.03 Nareit Funds From Operations $4.62 4.64 Adjustments to reconcile Nareit FFO to Core Operating Earnings: Straight line rent, net (0.14) (0.14) Above/below market rent amortization, net (0.13) (0.13) Debt and derivative mark-to-market amortization 0.04 0.04 Debt and derivative mark-to-market amortization $4.39 $4.41 Note: Figures above represent 100% of Regency's consolidated entities and its pro-rata share of unconsolidated real estate partnerships, with the exception of items that are net of noncontrolling interests including per share data, "Development and Redevelopment spend," "Acquisitions," and "Dispositions". (1) Core Operating Earnings excludes from Nareit FFO: (i) transaction related income or expenses; (ii) gains or losses from the early extinguishment of debt; (iii) certain non-cash components of earnings derived from straight-line rents, above and below market rent amortization, and debt and derivative mark-to-market amortization; and (iv) other amounts as they occur. (2) Includes above and below market rent amortization and straight-line rents, and excludes debt and derivative mark to market amortization. (3) Represents 'General & administrative, net' before gains or losses on deferred compensation plan, as reported on supplemental pages 6 and 7 and calculated on a pro-rata basis. (4) Includes debt and derivative mark to market amortization, and is net of interest income. (5) Disposition cap rates excude the $11M sale of 101 7th Avenue on 7/1/2025, which was vacant at the time of closing. (6) Share/unit issuances guidance of $300M reflects (i) $100M of common equity raised on a forward basis through the Company's ATM in 4Q24, and (ii) ~$200M from the Company's issuance of operating partnership units for the funding of the 5-asset portfolio acquisition in Orange County, CA in 3Q25. Forward-looking statements involve risks, uncertainties and assumptions. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements. Please refer to the documents filed by Regency Centers Corporation with the SEC, specifically the most recent reports on forms 10-K and 10-Q, which identify important risk factors which could cause actual results to differ from those contained in the forward-looking statements. Supplemental Information 27 G lossary of Terms September 30, 2025 Non-GAAP Financial Measures The Company provides the following non-GAAP financial measures as supplemental information to enhance investors’ understanding of its financial performance and liquidity. These measures are not intended to replace or be considered more meaningful than net income or cash flow from operating activities, as calculated in accordance with GAAP. Non-GAAP measures have inherent limitations, as they exclude certain income and expense items that impact operating results. As such, they should be viewed in conjunction with GAAP results. Additionally, the Company’s methodology for calculating these measures may differ from that used by other REITs, making comparisons to similarly titled metrics potentially inconsistent. Investors should be aware that the excluded items remain relevant to a comprehensive assessment of financial performance. Adjusted Funds From Operations (AFFO): An additional performance measure used by Regency that reflects cash available to fund the Company’s business needs and distribution to shareholders. AFFO is calculated by adjusting Core Operating Earnings for (i) capital expenditures necessary to maintain and lease the Company’s portfolio of properties, (ii) debt cost and derivative adjustments and (iii) stock-based compensation. Core Operating Earnings: An additional performance measure used by Regency because the computation of Nareit Funds from Operations (“Nareit FFO”) includes certain non-comparable items that affect the Company's period-over-period performance. Core Operating Earnings excludes from Nareit FFO: (i) transaction related income or expenses; (ii) gains or losses from the early extinguishment of debt; (iii) certain non-cash components of earnings derived from straight-line rents, above and below market rent amortization, and debt and derivative mark-to-market amortization; and (iv) other amounts as they occur. Fixed Charge Coverage Ratio: Operating EBITDA re divided by the sum of the gross interest and scheduled mortgage principal paid to our lenders. We use the Fixed Charge Coverage Ratio as a key performance indicator to assess our ability to meet fixed financing obligations. Management, creditors, and rating agencies commonly rely on this ratio to evaluate our financial flexibility and overall creditworthiness. It also allows us and our investors to gauge how effectively our ongoing operating performance supports the fulfillment of fixed commitments. We believe this metric offers valuable insight into the strength and sustainability of our capital structure and liquidity position. Nareit Funds From Operations (Nareit FFO): Nareit FFO is a commonly used measure of REIT performance, which Nareit defines as net income, computed in accordance with GAAP, excluding gains on sales and impairments of real estate, net of tax, plus depreciation and amortization, and after adjustments for unconsolidated real estate investment partnerships and joint ventures. Regency computes Nareit FFO for all periods presented in accordance with Nareit's definition. Companies use different depreciable lives and methods, and real estate values historically fluctuate with market conditions. Since Nareit FFO excludes depreciation and amortization and gains on sale and impairments of real estate, it provides a performance measure that, when compared year over year, reflects the impact on operations from trends in percent leased, rental rates, operating costs, acquisition and development activities, and financing costs. This provides a perspective of the Company’s financial performance not immediately apparent from net income determined in accordance with GAAP. Thus, Nareit FFO is a supplemental non-GAAP financial measure of the Company's operating performance, which does not represent cash generated from operating activities in accordance with GAAP; and, therefore, should not be considered a substitute measure of cash flows from operations. Pro-rata Net Debt and Preferreds-to-Operating EBITDAre: Net debt plus preferred stock divided by Operating EBITDAre. Net debt is calculated as the sum of consolidated debt and Regency’s pro-rata share of unconsolidated debt, less cash, cash equivalents, and restricted cash. This metric is used by management and investors to evaluate Regency’s leverage and capital structure in relation to its earnings-generating capacity. We believe this ratio is useful to investors as it provides insight into Regency’s financial leverage, independent of fluctuations in cash levels, and allows for consistent period-over-period comparison. The pro-rata share presentation reflects the economic impact of Regency’s unconsolidated joint ventures. Net Operating Income (NOI): The sum of base rent, percentage rent, termination fee income, tenant recoveries, other lease income, and other property income, less operating and maintenance expenses, real estate taxes, ground rent, termination expense, and uncollectible lease income. NOI excludes straight-line rental income and expense, above and below market rent and ground rent amortization, tenant lease inducement amortization, and other fees. The Company also provides disclosure of NOI excluding termination fees, which excludes both termination fee income and expenses. Management believes that NOI is a useful measure for investors because it provides insight into the core operations and performance of our properties, independent of the capital structure, financing activities, and non-operating factors. By focusing on property-level performance, NOI allows investors to compare the performance of our real estate assets across periods and with those of other REIT peers in the industry, facilitating a clearer understanding of trends in occupancy, rental income, and operating expense management. In addition to its relevance for investors, management uses NOI as a key performance metric in making operational and strategic decisions. NOI is used to evaluate income generated from shopping centers (i.e., return on assets) and to guide decisions on capital investments. These decisions may include acquisitions, redevelopments, and investments in capital improvements. Supplemental Information 28 Operating EBITDA re : Nareit EBITDA re is a measure of REIT performance, which the Nareit defines as net income, computed in accordance with GAAP, excluding (i) interest expense; (ii) income tax expense; (iii) depreciation and amortization; (iv) gains on sales of real estate; (v) impairments of real estate; and (vi) adjustments to reflect the Company’s share of unconsolidated partnerships and joint ventures. Operating EBITDA re excludes from Nareit EBITDA re certain non-cash components of earnings derived from straight-line rents and above and below market rent amortization. The Company provides a reconciliation of Net Income to Nareit EBITDA re to Operating EBITDA re . Pro-rata information: includes 100% of the Company’s consolidated properties plus its economic share (based on the ownership interest) in the unconsolidated real estate investment partnerships. The Company provides Pro-rata financial information because Regency believes it assists investors and analysts in estimating the economic interest in the consolidated and unconsolidated real estate investment partnerships, when read in conjunction with the Company’s reported results under GAAP. The Company believes presenting its Pro-rata share of assets, liabilities, operating results, and other metrics, along with certain other non-GAAP financial measures, makes comparisons of its operating results to those of other REITs more meaningful. The Pro-rata information provided is not, nor is it intended to be, presented in accordance with GAAP. The Pro-rata supplemental details of assets and liabilities and supplemental details of operations reflect the Company’s proportionate economic ownership of the assets, liabilities, and operating results of the properties in our portfolio. The Pro-rata information is prepared on a basis consistent with the comparable consolidated amounts and is intended to more accurately reflect the Company’s proportionate economic interest in the assets, liabilities, and operating results of properties in its portfolio. The Company does not control the unconsolidated real estate partnerships, and the Pro-rata presentations of the assets and liabilities, and revenues and expenses do not represent our legal claim to such items. The partners are entitled to profit or loss allocations and distributions of cash flows according to the operating agreements, which generally provide for such allocations according to their invested capital. The Company’s share of invested capital establishes the ownership interests Regency uses to prepare its Pro-rata share. The presentation of Pro-rata information has limitations which include, but are not limited to, the following: • The amounts shown on the individual line items were derived by applying our overall economic ownership interest percentage determined when applying the equity method of accounting and do not necessarily represent our legal claim to the assets and liabilities, or the revenues and expenses; and • Other companies in our industry may calculate their Pro-rata interest differently, limiting the comparability of Pro-rata information. Because of these limitations, the Pro-rata financial information should not be considered independently or as a substitute for the financial statements as reported under GAAP. The Company compensates for these limitations by relying primarily on our GAAP financial statements, using the Pro-rata information as a supplement. Pro-rata Same Property NOI: a key non-GAAP financial measure commonly used by real estate investment trusts (REITs) to evaluate operating performance. It is calculated on a proportionate ownership basis for properties held during the comparable reporting periods, excluding revenue and expenses related to non-same properties during the periods. Management believes this measure provides investors with a useful and consistent comparison of the Company’s operating performance and trends. Management uses Pro-rata Same Property NOI as a supplemental measure to assess property-level performance, excluding the effects of corporate-level expenses, financing costs, and non-operating activities. This measure allows investors to evaluate trends in revenue and expense growth for properties that have been consistently operated during the periods. Supplemental Information 29 Other Defined Terms Anchor Space: A space equal to or greater than 10,000 SF. Development Completion : A Property in Development that is deemed complete upon the earlier of (i) 90% of total estimated net development costs have been incurred and percent leased equals or exceeds 95%, or (ii) the property features at least two years of anchor operations. Once deemed complete, the property is termed a Retail Operating Property. Non-Same Property: Any property, during either calendar year period being compared, that was acquired, sold, a Property in Development, a Development Completion, or a property under, or being positioned for, significant redevelopment that distorts comparability between periods. Non-retail properties and corporate activities, including the captive insurance program, are part of Non-Same Property. Please refer to the footnote on Property Summary Report for Non-Same Property detail. Other lease income: includes revenue derived from various lease-related activities beyond standard base or percentage rent. This primarily includes income from temporary tenants, late fees, signage and marketing fees, sustainability income, land/building rentals, communications tower leases, tenant/employee parking fees, incidental income, and other ancillary charges generally outlined in lease agreements. Other property income: includes parking fees and other incidental income from the properties and is generally recognized at the point in time that the performance obligation is met. Property In Development: Properties in various stages of ground-up development. Property In Redevelopment: Retail Operating Properties under redevelopment or being positioned for redevelopment. Unless otherwise indicated, a Property in Redevelopment is included in the Same Property pool. Redevelopment Completion: A Property in Redevelopment that is deemed complete upon the earlier of (i) 90% of total estimated project costs have been incurred and percent leased equals or exceeds 95% for the Company owned GLA related to the project, or (ii) the property features at least two years of anchor operations, if applicable. Retail Operating Property: Any retail property not termed a Property In Development. A retail property is any property where the majority of the income is generated from retail uses. Same Property: Retail Operating Property that was owned and operated for the entirety of both calendar year periods being compared. This term excludes Property in Development, prior year Development Completions, and Non-Same Properties. Property in Redevelopment is included unless otherwise indicated. Shop Space: A space under 10,000 SF. Supplemental Information 30
Item 7.01 - Regulation FD Disclosure
257 words
Item 7.01 Regulation FD Disclosures On October 28, 2025, Regency posted on its website, at investors.regencycenters.com, the Regency Centers Q3 2025 Earnings Presentation. Declaration of Dividend for Common Stock and Series A and Series B Preferred Stock On October 27, 2025, the Board of Directors of Regency Centers Corporation (the “Company”): 1. Declared a dividend on the Company's common stock of $0.755 per share, payable on January 6, 2026, to shareholders of record as of December 15, 2025. 2. Declared a dividend on the Company’s 6.250% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”), which will be paid at a rate of $0.390625 per share on January 30, 2026. The dividend will be payable to holders of record of the Series A Preferred Stock as of the close of business on January 16, 2026; and 3. Declared a dividend on the Company’s 5.875% Series B Cumulative Redeemable Preferred Stock (the “Series B Preferred Stock”), which will be paid at a rate of $0.367200 per share on January 30, 2026. The dividend will be payable to holders of record of the Series A Preferred Stock as of the close of business on January 16, 2026. The information furnished above shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.
Item 9.01 - Financial Statements and Exhibits
93 words
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit 99.1 Earnings release issued by Regency on October 28, 2025, for the three and nine months ended September 30, 2025. Exhibit 99.2 Supplemental information posted on its website on October 28, 2025, for the three and nine months ended September 30, 2025. Exhibit 99.3 Fixed income supplemental information posted on its website on October 28, 2025, for the three and nine months ended September 30, 2025. 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL documents)