Kimco Realty Corporation (hc) · NYSE:KIM
Kimco Realty Corporation (hc) — Q3 2026 Earnings Presentation
28 slides from Kimco Realty Corporation (hc)'s earnings presentation, Oct 29, 2026
Slide 1: Investor Presentation Third Quarter 2026
Bridgehampton Commons Investor Bridgehampton, New York Presentation Third Quarter 2026 kimcorealty.com kimcorealty.com
Slide 2: Safe Harbor and Non-GAAP Disclosures
Safe Harbor and Non-GAAP Disclosures Forward-Looking Statement and Risk Factors This communication contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, a
Slide 3: Kimco at a Glance
Kimco at a Glance Necessity-Based Focus Providing essential, necessity-based goods and services to local communities. NYSE: KIM S&P 500 A- / A3 Credit Rated First-Ring Suburb Strategy Expanding a nationally-diversified portfolio located in the high-barrier to entry, first-ring suburbs within key maj
Slide 4: 2026 Strategic Pillars
2026 Strategic Pillars 01 02 03 Platform Power Embedded Disciplined & Accretive & Efficiency Growth Engine Capital Allocation • Grocery-anchored properties in • Contractually scheduled rent • Redeploy low-growth, low-cap dense, affluent first-ring suburban increases ground leases and mixed-use trade
Slide 5: Why Kimco Realty?
Why Kimco Realty? High-Quality Necessity-Based Portfolio Generating Consistent, Visible Growth at a Discounted Price Sector-Leading FFO Growth at Below-Sector Multiple Best-in Class Grocery Anchor Quality • One of the only Shopping Center REITs to achieve >5% FFO growth in ‘24 and >6% in ’25 • 87% g
Slide 6: Growth at a Reasonable Price (GARP)
Growth at a Reasonable Price (GARP) Re-rating opportunity: Kimco trades at a discount to peers producing comparable growth, with an attractive yield and a growing common dividend closing the total-return gap. Dividend Yields Cheap / High Growth Expensive / High Growth KIM 5.0% 9% FR MAA 5.2% PECO UD
Slide 7: Strong Fundamentals Differentiated
Quail Corners Charlotte, NC Strong Fundamentals Differentiated Portfolio
Slide 8: One Kimco: Turning Scale Into Earnings Growth
Strong Fundamentals Differentiated Portfolio One Kimco: Turning Scale Into Earnings Growth One Kimco is a unified, asset-centric operating model that converts the scale of our grocery-anchored portfolio into operating leverage and earnings growth. THE ONE KIMCO OPERATING MODEL THE OUTCOME Revenue Ac
Slide 9: One Kimco Drives Measurable Performance
Strong Fundamentals Differentiated Portfolio One Kimco Drives Measurable Performance Revenue growth outpaces G&A, expanding operating leverage REVENUE ACCELERATION GROWING OPERATING LEVERAGE Revenue (2019=100) G&A (2019=100) +460 bps ~$22M 89 leases >100% 200 small-shop higher revenue signed with 17
Slide 10: National Footprint in First-Ring Suburbs
Strong Fundamentals Differentiated Portfolio National Footprint in First-Ring Suburbs 82% of Annual Base Rent (ABR) from Top Major Metro Markets1 First-Ring Suburbs Denver Strong demographics · Operational efficiency · Scalable economics Seattle • High population density and affluent households • Hi
Slide 11: New Development at Historic Lows
Strong Fundamentals Differentiated Portfolio New Development at Historic Lows Strip Center Supply Growth vs. Leased Rates Rent Increase Needed to Make Stable Development Economically Feasible2 3.5% 97% 100% 3.0% 96% 90% ~65% ~$450/SF 80% market rent increase avg cost of ground-up 2.5% 95% 70% needed
Slide 12: Stores Deliver What Online Can't
Strong Fundamentals Differentiated Portfolio Stores Deliver What Online Can’t THE CHALLENGE 25-30% $850B E-Commerce Is Essential, of an item’s value is lost to returns¹ in annual U.S. online returns² But Fulfillment Is Costly THE DIFFERENTIATOR Human Connection Beats THE SOLUTION Stores Solve the Fu
Slide 13: 78% of ABR - Discount & Necessity Goods + Services
Strong Fundamentals Differentiated Portfolio 78% of ABR - Discount & Necessity Goods + Services Discount & necessity goods 40% Top 10 tenants by ABR Leases % ABR S&P Grocery & beverages 17% 1 TJX Companies* 182 3.8% A Off-price 10% Home Improvement 3% 2 Ross Stores* 112 2.0% A- Pet Stores / Veterina
Slide 14: Portfolio Breakdown: Anchor & Small Shop Tenancy
Strong Fundamentals Differentiated Portfolio Portfolio Breakdown: Anchor & Small Shop Tenancy 48% of Kimco’s ABR is derived from small shop tenants (<10K SF), comprised primarily of: • Restaurants (quick serve, fast casual and full service) Top 50 Small Shop Tenants • Beauty Supplies and Personal se
Slide 15: Necessity-Based Tenancy Drives Durable Traffic
Strong Fundamentals Differentiated Portfolio Necessity-Based Tenancy Drives Durable Traffic Grocery anchors bring shoppers back week after week, and a re-accelerating consumer is adding to that base. Durable traffic Supported by a strong consumer and healthy tenants Kimco traffic has grown year-over
Slide 16: Retailer Demand Remains Deep & Broad-Based
Strong Fundamentals Differentiated Portfolio Retailer Demand Remains Deep & Broad-Based Broad-Based Demand Across Categories & Box Sizes Examples of Kimco’s national platform supporting • 2026 expected store openings +1.3% YoY, led by restaurants, off-price, hardlines, discounters & beauty1 multi-ma
Slide 17: Leasing Execution Is Delivering & Accelerating
Strong Fundamentals Differentiated Portfolio Leasing Execution Is Delivering & Accelerating 3Q Leasing Success • 9% increase in net effective rents over the TTM, and 3%+ ABR/SF CAGR over the trailing 2 years • 3%+ / 4%+ annual rent bumps on 83% / 32% of small shop new leases • 31.5% pro-rata rent sp
Slide 18: Visible Future Cash Flow Growth
Strong Fundamentals Differentiated Portfolio Visible Future Cash Flow Growth Economic occupancy remains 160 bps below prior peak levels, providing embedded growth potential Expected Timing of Commencements ($M ABR) Expected Incremental Cash Flow Receipts ($M) $76 $62 $64 $12 $20 $34 $43 $64 $42 28%
Slide 19: Accretive Capital Allocation
Airport Plaza Farmingdale, NY Accretive Capital Allocation
Slide 20: 2026 Capital Allocation
Accretive Capital Allocation 2026 Capital Allocation YTD Actuals (Through 9.30.26) Current Plan Sources of Capital Amount (Ms) Yields Amount (Ms) Implied Yield Free Cash Flow1 $179 3.75% $170 to $180 3.75% Asset Sales $391 5.1% $400 to $500 ~5.0% Total for Accretive Deployment $570 4.7% $570 to $680
Slide 21: Case Study: Accretive Recycling in Action
Accretive Capital Allocation Case Study: Accretive Recycling in Action Sold four low-growth assets and reinvested the proceeds in two grocery-anchored South Florida centers, one sourced through our Structured Investment Program. SOLD ACQUIRED 1031 Exchange 4 Costco-anchored assets¹ 2 South Florida c
Slide 22: Case Studies: Structured Investment → Acquisition
Accretive Capital Allocation Case Studies: Structured Investment → Acquisition Unique to Kimco: Structured Investment Program Building a Strategic Pompano Marketplace Acquisition Pipeline Pompano , FL STRUCTURED PURCHASE PRICE Incremental INVESTMENT Acquired Jul ‘26 $53M Capital • Provides capital t
Slide 23: Value Creation: Grocery-Focused Redevelopment
Accretive Capital Allocation Value Creation: Grocery-Focused Redevelopment Redevelopment1 Anchor Repositioning1 Completed 2026 10.1% 18.5% Incl. 5 Grocer Conversions Yield Yield 11 Projects • $51M Gross Costs 10 Projects • $39M Gross Costs Active Projects 9 to 11% 19 to 23% 12 of 29 Grocery-Focused
Slide 24: Value Creation: Mixed-Use Redevelopment
Accretive Capital Allocation Value Creation: Mixed-Use Redevelopment Program Summary Active Project Spotlights Monetizations • Preferred equity mixed-use developments with best-in-class residential developers The Chester @ Westlake SOLD The Milton @ Pentagon Centre Daly City, CA Pentagon City, VA •
Slide 25: Significant Financial Strength
Wexford Plaza Pittsburgh, Pennsylvania Significant Financial Strength
Slide 26: 2026 Financial Snapshot
Significant Financial Strength 2026 Financial Snapshot 6.8% A-/A3 ~$175M Growth in FFO/diluted Credit ratings from Annual free cash flow after share over Q3’25 S&P/Fitch/Moody’s; dividends and leasing and 1 of a select group of REITs maintenance capex 5.3x $2.5B+ 7.7% Net debt to EBITDA Liquidity, i
Slide 27: Financial Capacity to Support Growth
Significant Financial Strength Financial Capacity to Support Growth COMMITTED TO SOURCES USES ▪ Investment grade credit rating of: ▪ ~$175M of annual free cash flow after ▪ 2026 debt maturities: No notable A- S&P / A- Fitch / A3 Moody’s dividends and leasing and maintenance maturities remain as of O
Slide 28: Well-Staggered Debt Maturity Profile
Significant Financial Strength Well-Staggered Debt Maturity Profile Debt Profile: Consolidated JV1 Consolidated Unsecured Fixed Rate (~100% of outstanding Cons. Debt) 3.97%1 4.48%1 Floating Rate 4.89%1 5.25%1 Consolidated Secured WAVG Term 7.4yrs 3.9yrs JV Unsecured 2 Secured Debt 5% 73% 2 Unsecured
Kimco Realty Corporation (HC) — Q3 2026 Earnings Presentation on 6ix