Exhibit 99.2

Table of Contents

December 31, 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

December 31, 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 2026 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, 2025 (“2025 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 Environment

Macroeconomic, political, and geopolitical conditions and governmental policies may adversely impact consumer confidence and spending and the businesses of our tenants and could, in turn, adversely impact our business. Changes in interest rates may adversely impact our cost to borrow, real estate valuation, stock price, and ability to raise capital through issuance of debt and equity. 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.

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

Shifts in retail trends, sales, and delivery methods between brick and mortar stores, e-commerce, home delivery, and curbside pick-up, as well as autonomous delivery systems, 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 an adverse 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 and differing focus on metrics and reporting related to environmental, social and governance ("ESG") factors by investors, lenders 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. 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 KathrynMcKie@regencycenters.com

Regency Centers Reports Fourth Quarter and Full Year 2025 Results

JACKSONVILLE, Fla. (February 5, 2026) – Regency Centers Corporation (“Regency Centers,” “Regency” or the “Company”) (Nasdaq: REG) today reported financial and operating results for the period ended December 31, 2025, and provided initial 2026 earnings guidance. For the three months ended December 31, 2025 and 2024, Net Income Attributable to Common Shareholders was $1.09 and $0.46, respectively, per diluted share. For the twelve months ended December 31, 2025 and 2024, Net Income Attributable to Common Shareholders was $2.82 and $2.11, respectively, per diluted share.

Fourth Quarter and Full Year 2025 Highlights

•
Reported Nareit FFO of $1.17 per diluted share for the fourth quarter, and $4.64 per diluted share for the full year
•
Reported Core Operating Earnings of $1.12 per diluted share for the fourth quarter, and $4.41 per diluted share for the full year
•
Generated full-year Nareit FFO per share growth of 7.9% and Core Operating Earnings per share growth of 6.8%
•
Increased Same Property Net Operating Income ("NOI") for the fourth quarter by 4.7% year-over-year, and for the full year by 5.3%, excluding termination fees
•
Increased Same Property percent leased by 10 basis points sequentially to 96.5%
•
Executed 6.8 million square feet of comparable new and renewal leases during the full year at blended rent spreads of 10.8% on a cash basis and 21.4% on a straight-lined basis
•
Started $97 million of new development and redevelopment projects in the fourth quarter, bringing full year total project starts to approximately $318 million
•
Completed $164 million of development and redevelopment projects in the fourth quarter, bringing full year total project completions to approximately $212 million
•
As of December 31, 2025, Regency's in-process development and redevelopment projects had estimated net project costs of $597 million at a blended estimated yield of 9%
•
During the full year 2025, acquired approximately $538 million of high-quality shopping centers
•
Pro-rata net debt and preferred stock to TTM operating EBITDA re at December 31, 2025 was 5.1x
•
Subsequent to quarter end, on February 4, 2026, Regency's Board of Directors (the "Board") declared a quarterly cash dividend on the Company's common stock of $0.755 per share

“We delivered another quarter and year of outstanding performance, highlighted by exceptional Same Property NOI, earnings, and dividend growth,” said Lisa Palmer, President and Chief Executive Officer. “These results reflect the quality and locations of our shopping centers, the strength of our best-in-class operating and investments platforms, and the hard work of our talented team. With strong momentum across both internal and external growth, we are well-positioned to create long-term value for our shareholders in 2026 and beyond.”

Supplemental Information ii

Financial Results

Net Income Attributable to Common Shareholders

•
For the three months ended December 31, 2025, Net Income Attributable to Common Shareholders was $199.1 million, or $1.09 per diluted share, compared to Net Income Attributable to Common Shareholders of $83.1 million, or $0.46 per diluted share, for the same period in 2024.
•
For the twelve months ended December 31, 2025 and 2024, Net Income Attributable to Common Shareholders was $513.8 million, or $2.82 per diluted share, compared to Net Income Attributable to Common Shareholders of $386.7 million, or $2.11 per diluted share, for the same period in 2024.
o
Net Income for the three months ended December 31, 2025 and for the full year 2025 was impacted by a $72.2 million gain recognized from a partial distribution-in-kind transaction.

Nareit FFO

•
For the three months ended December 31, 2025, Nareit FFO was $219.3 million, or $1.17 per diluted share, compared to $199.5 million, or $1.09 per diluted share, for the same period in 2024.
•
For the twelve months ended December 31, 2025 and 2024, Nareit FFO was $855.7 million, or $4.64 per diluted share, compared to $790.9 million, or $4.30 per diluted share, for the same period in 2024.

Core Operating Earnings

•
For the three months ended December 31, 2025, Core Operating Earnings was $209.0 million, or $1.12 per diluted share, compared to $190.6 million, or $1.04 per diluted share, for the same period in 2024.
•
For the twelve months ended December 31, 2025 and 2024, Core Operating Earnings was $813.2 million, or $4.41 per diluted share, compared to $760.7 million, or $4.13 per diluted share, for the same period in 2024.

Portfolio Performance

Same Property NOI

•
Fourth quarter 2025 Same Property NOI, excluding termination fees, increased by 4.7% compared to the same period in 2024.
o
Same Property base rent growth contributed 4.1% to Same Property NOI growth in the fourth quarter 2025.
•
Full year 2025 Same Property NOI, excluding termination fees, increased by 5.3% compared to the same period in 2024.
o
Same Property base rent growth contributed 4.3% to Same Property NOI growth in the full year 2025.

Occupancy

•
As of December 31, 2025, Regency’s Same Property portfolio was 96.5% leased, an increase of 10 basis points sequentially, and a decrease of 10 basis points compared to December 31, 2024.
o
Same Property anchor percent leased, which includes spaces greater than or equal to 10,000 square feet, was 97.9%, a decrease of 70 basis points compared to December 31, 2024.
o
Same Property shop percent leased, which includes spaces less than 10,000 square feet, was 94.2%, an increase of 70 basis points compared to December 31, 2024.
•
As of December 31, 2025, Regency’s Same Property portfolio was 94.1% commenced, a decrease of 20 basis points sequentially and an increase of 70 basis points compared to December 31, 2024.

Leasing Activity

•
During the three months ended December 31, 2025, Regency executed approximately 1.7 million square feet of comparable new and renewal leases at a blended cash rent spread of +12.0% and a blended straight-lined rent spread of +24.5%.
•
During the twelve months ended December 31, 2025, Regency executed approximately 6.8 million square feet of comparable new and renewal leases at a blended cash rent spread of +10.8% and a blended straight-lined rent spread of +21.4%.

Supplemental Information iii

Capital Allocation and Balance Sheet

Developments and Redevelopments

•
For the twelve months ended December 31, 2025, the Company started development and redevelopment projects with estimated net project costs of approximately $318 million, at the Company's share, including $97 million of starts during the fourth quarter.
o
Fourth quarter project starts included more than $90 million of ground-up development projects, including:
▪
Oak Valley Village in Beaumont, CA, a 230K square foot Target and Sprouts-anchored center
▪
Lone Tree Village in Denver, CO, a 158K square foot King Soopers-anchored center
•
For the twelve months ended December 31, 2025, the Company completed development and redevelopment projects with estimated net project costs of approximately $212 million, at the Company's share, including $164 million of completions during the fourth quarter.
o
Fourth quarter project completions included more than $90 million of ground-up development projects, including:
▪
The Shops at Stone Bridge in Cheshire, CT, a 156K square foot Whole Foods-anchored center
▪
Jordan Ranch Market in Houston, TX, a 159K square foot HEB-anchored center
•
As of December 31, 2025, Regency’s in-process development and redevelopment projects had estimated net project costs of $597 million at the Company’s share, 43% of which had been incurred.

Property Transactions

•
As previously disclosed, on October 1, 2025, 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, and 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, and effective October 1, 2025, Regency no longer has an ownership interest in these six assets.
•
As previously disclosed, on October 7, 2025, the Company disposed of Hammocks Town Center in Miami, FL, for approximately $72 million.
•
Subsequent to year end, the Company acquired Crystal Brook Corner, a redevelopment project on Long Island in New York, for $30 million. The project will be reflected as a first quarter 2026 redevelopment start.

Balance Sheet

•
During the fourth quarter, the Company settled the remaining approximately 666K shares under forward sale agreements in connection with its ATM program, entered into during 2024 at an average gross issuance price of $75.05 per share.
•
As of December 31, 2025, Regency had approximately $1.4 billion of available capacity under its revolving credit facility.
•
As of December 31, 2025, Regency’s pro-rata net debt and preferred stock to TTM operating EBITDA re was 5.1x

Common and Preferred Dividends

•
On February 4, 2026, Regency's Board declared a quarterly cash dividend on the Company's common stock of $0.755 per share. The dividend is payable on April 1, 2026 to shareholders of record as of March 11, 2026.
•
On February 4, 2026, 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 April 30, 2026 to shareholders of record as of April 15, 2026.
•
On February 4, 2026, 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 April 30, 2026 to shareholders of record as of April 15, 2026.

Supplemental Information iv

2026 Guidance

Regency Centers is hereby providing initial 2026 Guidance, as summarized in the table below. Please refer to the Company’s fourth 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 2026 Guidance (in thousands, except per share data) | 2025 Actual | 2026 Guidance
Net Income Attributable to Common Shareholders per diluted share | $2.82 | $2.35 - $2.39
Nareit Funds From Operations (“Nareit FFO”) per diluted share | $4.64 | $4.83 - $4.87
Core Operating Earnings per diluted share(1) | $4.41 | $4.59 - $4.63
Same property NOI growth without termination fees | 5.3% | +3.25% to +3.75%
Non-cash revenues(2) | $49,163 | +/-$51,000
G&A expense, net(3) | $96,408 | $96,000-$100,000
Interest expense, net and Preferred stock dividends(4) | $234,146 | $250,000-$252,000
Management, transaction and other fees | $27,298 | +/-$27,000
Development and Redevelopment spend | $316,300 | +/-$325,000
Acquisitions (as incurred) | $538,486 | $0
Cap rate (weighted average) | 6.0% | 0.0%
Dispositions (as incurred) | $109,954 | $0
Cap rate (weighted average)(5) | 5.6% | 0.0%
Share/unit issuances(6) | $299,662 | $0

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)
2025 Disposition cap rate excludes the $11M sale of 101 7th Avenue on 7/1/2025, which was vacant at the time of closing.
(6)
2025 Share/unit issuances reflect (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 fourth quarter results and provide further business updates, management will host a conference call on Friday, February 6 th at 11:00 a.m. ET. Dial-in and webcast information is below.

Fourth Quarter 2025 Earnings Conference Call

Date: | Friday, February 6, 2026
Time: | 11:00 a.m. ET
Dial#: | 877-407-0789 or 201-689-8562
Webcast: | Fourth 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 December 31, 2025 and 2024 | Three Months Ended |  |  | Year Ended |
| 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Reconciliation of Net Income Attributable to Common Shareholders to Nareit FFO: |  |  |  |  |  |  |  |  |  |  |
Net Income Attributable to Common Shareholders | $ | 199,068 |  |  |  | 83,066 |  |  | $ | 513,810 |  |  |  | 386,738 |
Adjustments to reconcile to Nareit Funds From Operations (1): |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization (excluding FF&E) |  | 109,388 |  |  |  | 102,816 |  |  |  | 430,684 |  |  |  | 422,581 |
Gain on sale of real estate, net of tax |  | (93,257 | ) |  |  | (1,216 | ) |  |  | (100,444 | ) |  |  | (35,069 | )
Provision for impairment of real estate |  | (30 | ) |  |  | 14,304 |  |  |  | 4,606 |  |  |  | 14,304 |
Exchangeable operating partnership units |  | 4,177 |  |  |  | 502 |  |  |  | 7,069 |  |  |  | 2,338 |
Nareit FFO | $ | 219,346 |  |  |  | 199,472 |  |  | $ | 855,725 |  |  |  | 790,892 |
Nareit FFO per share (diluted) | $ | 1.17 |  |  |  | 1.09 |  |  | $ | 4.64 |  |  |  | 4.30 |
Weighted average shares (diluted) |  | 186,950 |  |  |  | 182,900 |  |  |  | 184,538 |  |  |  | 184,139 |
Reconciliation of Nareit FFO to Core Operating Earnings: |  |  |  |  |  |  |  |  |  |  |
Nareit FFO | $ | 219,346 |  |  |  | 199,472 |  |  | $ | 855,725 |  |  |  | 790,892 |
Adjustments to reconcile to Core Operating Earnings (1): |  |  |  |  |  |  |  |  |  |  |
Not Comparable Items |  |  |  |  |  |  |  |  |  |  |
Merger transition costs |  | - |  |  |  | 649 |  |  |  | - |  |  |  | 7,718 |
Loss on early extinguishment of debt |  | - |  |  |  | - |  |  |  | - |  |  |  | 180 |
Certain Non-Cash Items |  |  |  |  |  |  |  |  |  |  |
Straight-line rent |  | (7,249 | ) |  |  | (6,073 | ) |  |  | (27,319 | ) |  |  | (22,980 | )
Uncollectible straight-line rent |  | 688 |  |  |  | 547 |  |  |  | 1,299 |  |  |  | 2,446 |
Above/below market rent amortization, net |  | (5,827 | ) |  |  | (5,521 | ) |  |  | (23,087 | ) |  |  | (23,431 | )
Debt and derivative mark-to-market amortization |  | 2,013 |  |  |  | 1,504 |  |  |  | 6,631 |  |  |  | 5,837 |
Core Operating Earnings | $ | 208,971 |  |  |  | 190,578 |  |  |  | 813,249 |  |  |  | 760,662 |
Core Operating Earnings per share (diluted) | $ | 1.12 |  |  |  | 1.04 |  |  | $ | 4.41 |  |  |  | 4.13 |
Weighted average shares (diluted) |  | 186,950 |  |  |  | 182,900 |  |  |  | 184,538 |  |  |  | 184,139 |
Reconciliation of Core Operating Earnings to Adjusted Funds from Operations: |  |  |  |  |  |  |  |  |  |  |
Core Operating Earnings | $ | 208,971 |  |  |  | 190,578 |  |  | $ | 813,249 |  |  |  | 760,662 |
Adjustments to reconcile to Adjusted Funds from Operations (1): |  |  |  |  |  |  |  |  |  |  |
Operating capital expenditures |  | (47,226 | ) |  |  | (47,061 | ) |  |  | (137,335 | ) |  |  | (138,229 | )
Debt cost and derivative adjustments |  | 2,225 |  |  |  | 2,122 |  |  |  | 9,074 |  |  |  | 8,391 |
Stock-based compensation |  | 5,429 |  |  |  | 4,471 |  |  |  | 21,648 |  |  |  | 18,549 |
Adjusted Funds from Operations | $ | 169,399 |  |  |  | 150,110 |  |  | $ | 706,636 |  |  |  | 649,373 |

(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 December 31, 2025 and 2024 | Three Months Ended |  | Year Ended
| 2025 | 2024 |  | 2025 | 2024
Net income attributable to common shareholders | $199,068 | 83,066 |  | $513,810 | 386,738
Less: |  |  |  |  |
Management, transaction, and other fees | (7,582) | (7,978) |  | (28,358) | (27,874)
Other (1) | (13,649) | (12,516) |  | (53,842) | (49,944)
Plus: |  |  |  |  |
Depreciation and amortization | 105,936 | 95,206 |  | 405,044 | 394,714
General and administrative | 25,267 | 26,022 |  | 99,407 | 101,465
Other operating expense | 3,447 | 1,504 |  | 8,849 | 10,867
Other expense, net | 30,003 | 59,362 |  | 175,613 | 154,260
Equity in income of investments in real estate partnerships excluded from NOI (2) | (64,452) | 14,601 |  | (24,223) | 54,040
Net income attributable to noncontrolling interests | 5,653 | 2,200 |  | 13,491 | 9,452
Preferred stock dividends | 3,411 | 3,411 |  | 13,650 | 13,650
NOI | 287,102 | 264,878 |  | 1,123,441 | 1,047,368
Less non-same property NOI (3) | (11,132) | (780) |  | (23,633) | (2,678)
Same Property NOI | $275,970 | 264,098 |  | $1,099,808 | 1,044,690
% change | 4.5% |  |  | 5.3% |
Same Property NOI without Termination Fees | $274,168 | 261,760 |  | $1,092,860 | 1,038,218
% change | 4.7% |  |  | 5.3% |
Same Property NOI without Termination Fees or Redevelopments | $232,571 | 225,894 |  | $932,848 | 896,483
% change | 3.0% |  |  | 4.1% |

(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-K with the SEC and, therefore, remain subject to adjustment.

The Company has published additional financial information in its fourth quarter 2025 supplemental package that may help investors estimate earnings. A copy of the Company’s fourth 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-K for the period ended December 31, 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 2026 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, 2025 (“2025 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

Macroeconomic, political, and geopolitical conditions and governmental policies may adversely impact consumer confidence and spending and the businesses of our tenants and could, in turn, adversely impact our business. Changes in interest rates may adversely impact our cost to borrow, real estate valuation, stock price, and ability to raise capital through issuance of debt and equity. 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.

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

Shifts in retail trends, sales, and delivery methods between brick and mortar stores, e-commerce, home delivery, and curbside pick-up, as well as autonomous delivery systems, 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 an adverse 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 and differing focus on metrics and reporting related to environmental, social and governance ("ESG") factors by investors, lenders 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

December 31, 2025

(in thousands, except per share data)

| Three Months Ended | Year Ended
| 2025 | 2024 | 2025 | 2024
Financial Results |  |  |  |
Net income attributable to common shareholders (page 5) | $199,068 | $83,066 | $513,810 | $386,738
Net income per diluted share | $1.09 | $0.46 | $2.82 | $2.11
Nareit Funds From Operations (Nareit FFO) (page 9) | $219,346 | $199,472 | $855,725 | $790,892
Nareit FFO per diluted share | $1.17 | $1.09 | $4.64 | $4.30
Core Operating Earnings (page 9) | $208,971 | $190,578 | $813,249 | $760,662
Core Operating Earnings per diluted share | $1.12 | $1.04 | $4.41 | $4.13
Same Property NOI without termination fees (page 8) | $274,168 | $261,760 | $1,092,860 | $1,038,218
% growth | 4.7% |  | 5.3% |
Operating EBITDAre (page 10) | $271,609 | $250,374 | $1,062,213 | $993,276
Dividends declared per common share and unit | $0.755 | $0.705 | $2.870 | $2.715
Payout ratio of Core Operating Earnings per share (diluted) | 67.4% | 67.8% | 65.1% | 65.7%
Diluted share and unit count |  |  |  |
Weighted average shares (diluted) - Net income | 183,112 | 181,803 | 182,234 | 183,040
Weighted average shares and units (diluted) - Nareit FFO and Core Operating Earnings | 186,950 | 182,900 | 184,538 | 184,139

__________________________________________________________________________________________________

| As of | As of | As of | As of
| 12/31/2025 | 12/31/2024 | 12/31/2023 | 12/31/2022
Capital Information |  |  |  |
Market price per common share | $69.03 | $73.93 | $67.00 | $62.50
Common shares outstanding | 182,902 | 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 | 186,740 | 182,458 | 185,688 | 171,866
Market equity value of common shares and equivalents | $12,890,662 | $13,489,128 | $12,441,131 | $10,741,627
Preferred stock(1) | $225,000 | $225,000 | $225,000 | $0
Outstanding debt | 5,280,308 | 4,984,071 | 4,688,805 | 4,225,014
Less: cash | (120,661) | (61,884) | (91,354) | (68,776)
Net debt and preferred stock | $5,384,647 | $5,147,187 | $4,822,451 | $4,156,238
Total market capitalization | $18,275,309 | $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 | 5.1x | 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

December 31, 2025

(GLA in thousands)

Consolidated and 100% of Real Estate Partnerships | 12/31/2025 | 9/30/2025 | 6/30/2025 | 3/31/2025 | 12/31/2024
Number of properties | 481 | 485 | 483 | 483 | 482
Number of retail operating properties | 473 | 478 | 476 | 475 | 474
Number of same properties | 459 | 466 | 469 | 470 | 397
Number of properties in development(1) | 8 | 7 | 5 | 6 | 6
Gross Leasable Area (GLA) - All properties | 58,377 | 58,615 | 57,643 | 57,654 | 57,315
GLA - Retail operating properties | 57,411 | 57,732 | 57,006 | 56,863 | 56,523
GLA - Same properties | 55,147 | 55,778 | 55,675 | 55,735 | 50,219
GLA - Properties in development(1) | 967 | 883 | 598 | 752 | 752
Consolidated and Pro-Rata Share of Real Estate Partnerships |  |  |  |  |
GLA - All properties | 50,489 | 50,218 | 49,166 | 49,217 | 48,814
GLA - Retail operating properties | 49,522 | 49,335 | 48,529 | 48,502 | 48,100
GLA - Same properties(2) | 47,519 | 47,502 | 47,343 | 47,363 | 47,343
Anchor Spaces (≥ 10,000 SF)(2) | 29,081 | 29,055 | 29,069 | 29,068 | 29,069
Shop Spaces (< 10,000 SF)(2) | 18,438 | 18,447 | 18,275 | 18,296 | 18,274
GLA - Properties in development(1) | 967 | 883 | 598 | 675 | 675
% leased - All properties | 96.1% | 96.0% | 96.2% | 96.3% | 96.3%
% leased - Retail operating properties | 96.6% | 96.5% | 96.4% | 96.5% | 96.5%
% leased - Same properties(2) | 96.5% | 96.4% | 96.6% | 96.6% | 96.6%
Anchor Spaces (≥ 10,000 SF)(2) | 97.9% | 98.0% | 98.2% | 98.5% | 98.6%
Shop Spaces (< 10,000 SF)(2) | 94.2% | 93.8% | 93.9% | 93.7% | 93.5%
% commenced - Same properties(2)(3) | 94.1% | 94.3% | 94.0% | 93.5% | 93.4%
Same property NOI Growth without Termination Fees - YTD (see page 8) | 5.3% | 5.5% | 5.8% | 4.3% | 3.1%
Same property NOI Growth without Termination Fees or Redevelopments - YTD (see page 8) | 4.1% | 4.5% | 4.9% | 3.6% | 2.3%
Rent spreads - Trailing 12 months(4) (see page 19) | 10.8% | 10.5% | 9.7% | 9.5% | 9.5%

(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

December 31, 2025 and December 31, 2024

(in thousands)

|  | 2025 |  |  | 2024 |
|  | (unaudited) |  |  |  |
Assets: |  |  |  |  |  |
Net real estate investments: |  |  |  |  |  |
Real estate assets at cost |  | $ | 14,561,924 |  |  |  | 13,698,419 |
Less: accumulated depreciation |  |  | 3,267,728 |  |  |  | 2,960,399 |
Real estate assets, net |  |  | 11,294,196 |  |  |  | 10,738,020 |
Investments in sales-type lease, net |  |  | 16,727 |  |  |  | 16,291 |
Investments in real estate partnerships |  |  | 349,856 |  |  |  | 399,044 |
Net real estate investments |  |  | 11,660,779 |  |  |  | 11,153,355 |
Properties held for sale, net |  |  | - |  |  |  | - |
Cash, cash equivalents, and restricted cash |  |  | 120,661 |  |  |  | 61,884 |
Tenant receivables, net |  |  | 29,578 |  |  |  | 35,306 |
Straight-line rent receivables, net |  |  | 180,871 |  |  |  | 157,507 |
Other receivables |  |  | 63,413 |  |  |  | 62,682 |
Tenant and other receivables |  |  | 273,862 |  |  |  | 255,495 |
Deferred leasing costs, net |  |  | 97,253 |  |  |  | 79,911 |
Acquired lease intangible assets, net |  |  | 254,201 |  |  |  | 229,983 |
Right of use assets, net |  |  | 315,804 |  |  |  | 322,287 |
Other assets |  |  | 278,723 |  |  |  | 289,046 |
Total assets |  | $ | 13,001,283 |  |  |  | 12,391,961 |
Liabilities and Equity: |  |  |  |  |  |
Liabilities: |  |  |  |  |  |
Notes payable, net |  | $ | 4,619,301 |  |  |  | 4,343,700 |
Unsecured credit facility |  |  | 120,000 |  |  |  | 65,000 |
Total notes payable |  |  | 4,739,301 |  |  |  | 4,408,700 |
Accounts payable and other liabilities |  |  | 391,847 |  |  |  | 392,302 |
Acquired lease intangible liabilities, net |  |  | 356,454 |  |  |  | 364,608 |
Lease liabilities |  |  | 242,368 |  |  |  | 244,861 |
Tenants' security, escrow deposits, and prepaid rent |  |  | 89,707 |  |  |  | 81,183 |
Total liabilities |  |  | 5,819,677 |  |  |  | 5,491,654 |
Equity: |  |  |  |  |  |
Shareholders' Equity: |  |  |  |  |  |
Preferred stock |  |  | 225,000 |  |  |  | 225,000 |
Common stock |  |  | 1,829 |  |  |  | 1,814 |
Treasury stock |  |  | (31,075 | ) |  |  | (28,045 | )
Additional paid in capital |  |  | 8,704,138 |  |  |  | 8,503,227 |
Accumulated other comprehensive (loss) income |  |  | (4,220 | ) |  |  | 2,226 |
Distributions in excess of net income |  |  | (1,988,782 | ) |  |  | (1,980,076 | )
Total shareholders' equity |  |  | 6,906,890 |  |  |  | 6,724,146 |
Noncontrolling Interests: |  |  |  |  |  |
Exchangeable operating partnership units |  |  | 144,940 |  |  |  | 40,744 |
Limited partners' interests in consolidated partnerships |  |  | 129,776 |  |  |  | 135,417 |
Total noncontrolling interests |  |  | 274,716 |  |  |  | 176,161 |
Total equity |  |  | 7,181,606 |  |  |  | 6,900,307 |
Total liabilities and equity |  | $ | 13,001,283 |  |  |  | 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)

December 31, 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 |  | $ | (115,552 | ) |  |  | (111,047 | ) |  | $ | 1,305,006 |  |  |  | 1,385,178 |
Less: accumulated depreciation |  |  | (18,280 | ) |  |  | (18,237 | ) |  |  | 504,568 |  |  |  | 519,397 |
Real estate assets, net |  |  | (97,272 | ) |  |  | (92,810 | ) |  |  | 800,438 |  |  |  | 865,781 |
Investments in sales-type lease, net |  |  | (2,878 | ) |  |  | (2,798 | ) |  |  | 38,045 |  |  |  | 36,444 |
Net real estate investments |  |  | (100,150 | ) |  |  | (95,608 | ) |  |  | 838,483 |  |  |  | 902,225 |
Cash, cash equivalents, and restricted cash |  |  | (51,238 | ) |  |  | (65,217 | ) |  |  | 12,005 |  |  |  | 22,323 |
Tenant receivables, net |  |  | (391 | ) |  |  | (304 | ) |  |  | 3,411 |  |  |  | 3,771 |
Straight-line rent receivables, net |  |  | (2,468 | ) |  |  | (2,707 | ) |  |  | 21,809 |  |  |  | 22,813 |
Other receivables |  |  | (1,238 | ) |  |  | (342 | ) |  |  | 786 |  |  |  | 2,122 |
Tenant and other receivables |  |  | (4,097 | ) |  |  | (3,353 | ) |  |  | 26,006 |  |  |  | 28,706 |
Deferred leasing costs, net |  |  | (2,432 | ) |  |  | (2,004 | ) |  |  | 15,396 |  |  |  | 17,586 |
Acquired lease intangible assets, net |  |  | (832 | ) |  |  | (1,037 | ) |  |  | 7,549 |  |  |  | 8,612 |
Right of use assets, net |  |  | (1,570 | ) |  |  | (1,626 | ) |  |  | 4,665 |  |  |  | 4,834 |
Other assets |  |  | (320 | ) |  |  | (694 | ) |  |  | 26,026 |  |  |  | 31,476 |
Total assets |  | $ | (160,639 | ) |  |  | (169,539 | ) |  | $ | 930,130 |  |  |  | 1,015,762 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Notes payable, net |  | $ | (25,297 | ) |  |  | (27,191 | ) |  | $ | 541,006 |  |  |  | 575,371 |
Accounts payable and other liabilities |  |  | (2,989 | ) |  |  | (4,250 | ) |  |  | 25,952 |  |  |  | 28,104 |
Acquired lease intangible liabilities, net |  |  | (131 | ) |  |  | (195 | ) |  |  | 5,624 |  |  |  | 5,491 |
Lease liabilities |  |  | (2,037 | ) |  |  | (2,056 | ) |  |  | 3,139 |  |  |  | 3,267 |
Tenants' security, escrow deposits, and prepaid rent |  |  | (409 | ) |  |  | (430 | ) |  |  | 4,553 |  |  |  | 4,485 |
Total liabilities |  | $ | (30,863 | ) |  |  | (34,122 | ) |  | $ | 580,274 |  |  |  | 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 December 31, 2025 and 2024

(in thousands)

(unaudited)

|  | Three Months Ended |  |  | Year Ended |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Lease income |  | $ | 393,480 |  |  |  | 361,371 |  |  | $ | 1,511,425 |  |  |  | 1,411,379 |
Other property income |  |  | 3,132 |  |  |  | 3,187 |  |  |  | 13,741 |  |  |  | 14,651 |
Management, transaction, and other fees |  |  | 7,582 |  |  |  | 7,978 |  |  |  | 28,358 |  |  |  | 27,874 |
Total revenues |  |  | 404,194 |  |  |  | 372,536 |  |  |  | 1,553,524 |  |  |  | 1,453,904 |
Operating Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 105,936 |  |  |  | 95,206 |  |  |  | 405,044 |  |  |  | 394,714 |
Property operating expense |  |  | 70,188 |  |  |  | 65,395 |  |  |  | 264,877 |  |  |  | 248,637 |
Real estate taxes |  |  | 51,342 |  |  |  | 48,901 |  |  |  | 192,282 |  |  |  | 184,415 |
General and administrative |  |  | 25,267 |  |  |  | 26,022 |  |  |  | 99,407 |  |  |  | 101,465 |
Other operating expenses |  |  | 3,447 |  |  |  | 1,504 |  |  |  | 8,849 |  |  |  | 10,867 |
Total operating expenses |  |  | 256,180 |  |  |  | 237,028 |  |  |  | 970,459 |  |  |  | 940,098 |
Other Expense, net: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 49,940 |  |  |  | 47,051 |  |  |  | 199,548 |  |  |  | 180,119 |
Provision for impairment of real estate |  |  | (30 | ) |  |  | 14,304 |  |  |  | 4,606 |  |  |  | 14,304 |
Gain on sale of real estate, net of tax |  |  | (18,459 | ) |  |  | (318 | ) |  |  | (24,464 | ) |  |  | (34,162 | )
Loss on early extinguishment of debt |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 180 |
Net investment income |  |  | (1,448 | ) |  |  | (1,675 | ) |  |  | (4,077 | ) |  |  | (6,181 | )
Total other expense, net |  |  | 30,003 |  |  |  | 59,362 |  |  |  | 175,613 |  |  |  | 154,260 |
Income before equity in income of |  |  |  |  |  |  |  |  |  |  |  |
investments in real estate partnerships |  |  | 118,011 |  |  |  | 76,146 |  |  |  | 407,452 |  |  |  | 359,546 |
Equity in income of investments in real estate partnerships |  |  | 90,121 |  |  |  | 12,531 |  |  |  | 133,499 |  |  |  | 50,294 |
Net income |  |  | 208,132 |  |  |  | 88,677 |  |  |  | 540,951 |  |  |  | 409,840 |
Noncontrolling Interests: |  |  |  |  |  |  |  |  |  |  |  |
Exchangeable operating partnership units |  |  | (4,177 | ) |  |  | (502 | ) |  |  | (7,069 | ) |  |  | (2,338 | )
Limited partners' interests in consolidated partnerships |  |  | (1,476 | ) |  |  | (1,698 | ) |  |  | (6,422 | ) |  |  | (7,114 | )
Net income attributable to noncontrolling interests |  |  | (5,653 | ) |  |  | (2,200 | ) |  |  | (13,491 | ) |  |  | (9,452 | )
Net income attributable to the Company |  |  | 202,479 |  |  |  | 86,477 |  |  |  | 527,460 |  |  |  | 400,388 |
Preferred stock dividends |  |  | (3,411 | ) |  |  | (3,411 | ) |  |  | (13,650 | ) |  |  | (13,650 | )
Net income attributable to common shareholders |  | $ | 199,068 |  |  |  | 83,066 |  |  | $ | 513,810 |  |  |  | 386,738 |

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 December 31, 2025 and 2024

(in thousands)

|  | Three Months Ended |  |  | Year Ended |
|  | 2025 |  | 2024 |  |  | 2025 |  | 2024 |
| Revenues: |  |  |  |  |  |  |  |  |
* | Base rent | $ | 271,551 |  |  | 250,774 |  |  | $ | 1,049,767 |  |  | 986,916 |
* | Recoveries from tenants |  | 100,856 |  |  | 90,522 |  |  |  | 376,248 |  |  | 345,145 |
* | Percentage rent |  | 2,358 |  |  | 1,819 |  |  |  | 13,916 |  |  | 13,777 |
* | Termination fees |  | 1,786 |  |  | 2,071 |  |  |  | 6,759 |  |  | 5,981 |
* | Uncollectible lease income |  | (887 | ) |  | 109 |  |  |  | (2,793 | ) |  | (3,324 | )
* | Other lease income |  | 5,295 |  |  | 4,800 |  |  |  | 18,605 |  |  | 17,741 |
| Straight-line rent on lease income |  | 6,358 |  |  | 5,423 |  |  |  | 24,495 |  |  | 20,300 |
| Above/below market rent amortization |  | 6,163 |  |  | 5,853 |  |  |  | 24,428 |  |  | 24,843 |
| Lease income, net |  | 393,480 |  |  | 361,371 |  |  |  | 1,511,425 |  |  | 1,411,379 |
* | Other property income |  | 3,132 |  |  | 3,187 |  |  |  | 13,741 |  |  | 14,651 |
| Property management fees |  | 4,127 |  |  | 4,002 |  |  |  | 16,323 |  |  | 15,767 |
| Asset management fees |  | 1,727 |  |  | 1,633 |  |  |  | 6,967 |  |  | 6,548 |
| Leasing commissions and other fees |  | 1,728 |  |  | 2,343 |  |  |  | 5,068 |  |  | 5,559 |
| Management, transaction, and other fees |  | 7,582 |  |  | 7,978 |  |  |  | 28,358 |  |  | 27,874 |
| Total revenues | $ | 404,194 |  |  | 372,536 |  |  | $ | 1,553,524 |  |  | 1,453,904 |
| Operating Expenses: |  |  |  |  |  |  |  |  |
| Depreciation and amortization (including FF&E) | $ | 105,936 |  |  | 95,206 |  |  | $ | 405,044 |  |  | 394,714 |
* | Operating and maintenance |  | 65,970 |  |  | 61,175 |  |  |  | 247,582 |  |  | 231,233 |
* | Ground rent |  | 3,313 |  |  | 3,323 |  |  |  | 13,755 |  |  | 13,882 |
* | Termination expense |  | 35 |  |  | 25 |  |  |  | 59 |  |  | 30 |
| Straight-line rent on ground rent |  | 334 |  |  | 336 |  |  |  | 1,343 |  |  | 1,350 |
| Above/below market ground rent amortization |  | 536 |  |  | 536 |  |  |  | 2,138 |  |  | 2,142 |
| Property operating expense |  | 70,188 |  |  | 65,395 |  |  |  | 264,877 |  |  | 248,637 |
* | Real estate taxes |  | 51,342 |  |  | 48,901 |  |  |  | 192,282 |  |  | 184,415 |
| Gross general & administrative |  | 29,945 |  |  | 27,646 |  |  |  | 102,715 |  |  | 97,433 |
| Stock-based compensation |  | 5,429 |  |  | 4,471 |  |  |  | 21,648 |  |  | 18,549 |
| Capitalized direct overhead costs |  | (11,419 | ) |  | (7,736 | ) |  |  | (28,228 | ) |  | (19,773 | )
| General & administrative, net (1) |  | 23,955 |  |  | 24,381 |  |  |  | 96,135 |  |  | 96,209 |
| Loss on deferred compensation plan (2) |  | 1,312 |  |  | 1,641 |  |  |  | 3,272 |  |  | 5,256 |
| General & administrative |  | 25,267 |  |  | 26,022 |  |  |  | 99,407 |  |  | 101,465 |
| Other expenses |  | 1,828 |  |  | 141 |  |  |  | 6,549 |  |  | 2,268 |
| Development pursuit costs (income), net |  | 1,619 |  |  | 714 |  |  |  | 2,300 |  |  | 881 |
| Merger transition costs |  | - |  |  | 649 |  |  |  | - |  |  | 7,718 |
| Other operating expenses |  | 3,447 |  |  | 1,504 |  |  |  | 8,849 |  |  | 10,867 |
| Total operating expenses | $ | 256,180 |  |  | 237,028 |  |  | $ | 970,459 |  |  | 940,098 |
| Other Expense, net: |  |  |  |  |  |  |  |  |
| Gross interest expense | $ | 51,659 |  |  | 46,927 |  |  | $ | 202,537 |  |  | 183,305 |
| Derivative amortization |  | 107 |  |  | 225 |  |  |  | 784 |  |  | 728 |
| Debt cost amortization |  | 1,932 |  |  | 1,688 |  |  |  | 7,497 |  |  | 6,830 |
| Debt and derivative mark-to-market amortization |  | 2,008 |  |  | 1,423 |  |  |  | 6,711 |  |  | 5,515 |
| Capitalized interest |  | (2,987 | ) |  | (1,815 | ) |  |  | (10,289 | ) |  | (6,627 | )
| Interest income |  | (2,779 | ) |  | (1,397 | ) |  |  | (7,692 | ) |  | (9,632 | )
| Interest expense, net |  | 49,940 |  |  | 47,051 |  |  |  | 199,548 |  |  | 180,119 |
| Provision for impairment of real estate |  | (30 | ) |  | 14,304 |  |  |  | 4,606 |  |  | 14,304 |
| Gain on sale of real estate, net of tax |  | (18,459 | ) |  | (318 | ) |  |  | (24,464 | ) |  | (34,162 | )
| Loss on early extinguishment of debt |  | - |  |  | - |  |  |  | - |  |  | 180 |
| Net investment income (2) |  | (1,448 | ) |  | (1,675 | ) |  |  | (4,077 | ) |  | (6,181 | )
| Total other expense, net | $ | 30,003 |  |  | 59,362 |  |  | $ | 175,613 |  |  | 154,260 |
| Consolidated NOI | $ | 263,431 |  |  | 239,858 |  |  | $ | 1,022,565 |  |  | 951,327 |

* 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 December 31, 2025 and 2024

(in thousands)

|  | Noncontrolling Interests |  |  | Share of Unconsolidated Real Estate Partnerships |
|  | Three Months Ended |  | Year Ended |  |  | Three Months Ended |  | Year Ended |
|  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
| Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
* | Base rent | $ | (2,184 | ) |  | (2,286 | ) | $ | (9,031 | ) |  | (8,991 | ) |  | $ | 26,304 |  |  | 27,812 |  | $ | 109,984 |  |  | 107,187 |
* | Recoveries from tenants |  | (716 | ) |  | (736 | ) |  | (2,589 | ) |  | (2,730 | ) |  |  | 9,682 |  |  | 9,694 |  |  | 38,917 |  |  | 36,231 |
* | Percentage rent |  | (3 | ) |  | (3 | ) |  | (31 | ) |  | (8 | ) |  |  | 264 |  |  | 209 |  |  | 1,933 |  |  | 1,759 |
* | Termination fees |  | 2 |  |  | (8 | ) |  | (207 | ) |  | (11 | ) |  |  | 51 |  |  | 292 |  |  | 425 |  |  | 540 |
* | Uncollectible lease income |  | 2 |  |  | (1 | ) |  | 43 |  |  | 40 |  |  |  | (291 | ) |  | 150 |  |  | (296 | ) |  | (574 | )
* | Other lease income |  | (35 | ) |  | (39 | ) |  | (150 | ) |  | (152 | ) |  |  | 381 |  |  | 405 |  |  | 1,549 |  |  | 1,597 |
| Straight-line rent on lease income |  | (69 | ) |  | (62 | ) |  | (213 | ) |  | (788 | ) |  |  | 510 |  |  | 574 |  |  | 2,942 |  |  | 2,681 |
| Above/below market rent amortization |  | - |  |  | 3 |  |  | 18 |  |  | (5 | ) |  |  | 210 |  |  | 211 |  |  | 819 |  |  | 774 |
| Lease income |  | (3,003 | ) |  | (3,132 | ) |  | (12,160 | ) |  | (12,645 | ) |  |  | 37,111 |  |  | 39,347 |  |  | 156,273 |  |  | 150,195 |
* | Other property income |  | (43 | ) |  | (1 | ) |  | (114 | ) |  | (7 | ) |  |  | 536 |  |  | 248 |  |  | 1,191 |  |  | 806 |
| Asset management fees |  | - |  |  | - |  |  | - |  |  | - |  |  |  | (266 | ) |  | (256 | ) |  | (1,060 | ) |  | (963 | )
| Total revenues | $ | (3,046 | ) |  | (3,133 | ) |  | (12,274 | ) |  | (12,652 | ) |  | $ | 37,381 |  |  | 39,339 |  |  | 156,404 |  |  | 150,038 |
| Operating Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Depreciation and amortization (including FF&E) |  | (877 | ) |  | (826 | ) |  | (3,419 | ) |  | (3,291 | ) |  |  | 5,084 |  |  | 9,012 |  |  | 31,748 |  |  | 33,711 |
* | Operating and maintenance |  | (524 | ) |  | (532 | ) |  | (2,158 | ) |  | (1,965 | ) |  |  | 6,448 |  |  | 6,683 |  |  | 25,098 |  |  | 24,337 |
* | Ground rent |  | (43 | ) |  | (31 | ) |  | (150 | ) |  | (125 | ) |  |  | 70 |  |  | 66 |  |  | 284 |  |  | 268 |
* | Termination expense |  | (2 | ) |  | - |  |  | (2 | ) |  | - |  |  |  | - |  |  | - |  |  | - |  |  | - |
| Straight-line rent on ground rent |  | (13 | ) |  | (13 | ) |  | (52 | ) |  | (52 | ) |  |  | - |  |  | - |  |  | - |  |  | 20 |
| Above/below market ground rent amortization |  | - |  |  | - |  |  | - |  |  | - |  |  |  | 10 |  |  | 10 |  |  | 40 |  |  | 39 |
| Property operating expense |  | (582 | ) |  | (576 | ) |  | (2,362 | ) |  | (2,142 | ) |  |  | 6,528 |  |  | 6,759 |  |  | 25,422 |  |  | 24,664 |
* | Real estate taxes |  | (410 | ) |  | (399 | ) |  | (1,369 | ) |  | (1,476 | ) |  |  | 4,740 |  |  | 4,929 |  |  | 19,045 |  |  | 18,607 |
| General & administrative, net (1) |  | - |  |  | - |  |  | - |  |  | - |  |  |  | 57 |  |  | 80 |  |  | 273 |  |  | 310 |
| Other operating expenses |  | 652 |  |  | 742 |  |  | 2,771 |  |  | 2,982 |  |  |  | 382 |  |  | 1,006 |  |  | 1,453 |  |  | 2,313 |
| Total operating expenses | $ | (1,217 | ) |  | (1,059 | ) |  | (4,379 | ) |  | (3,927 | ) |  | $ | 16,791 |  |  | 21,786 |  |  | 77,941 |  |  | 79,605 |
| Other Expense, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross interest expense |  | (352 | ) |  | (384 | ) |  | (1,479 | ) |  | (1,640 | ) |  |  | 5,605 |  |  | 7,326 |  |  | 22,423 |  |  | 22,127 |
| Debt cost amortization |  | (10 | ) |  | (13 | ) |  | (43 | ) |  | (55 | ) |  |  | 196 |  |  | 222 |  |  | 836 |  |  | 889 |
| Debt and derivative mark-to-market amortization |  | (14 | ) |  | (13 | ) |  | (55 | ) |  | (54 | ) |  |  | 19 |  |  | 94 |  |  | (25 | ) |  | 376 |
| Capitalized interest |  | - |  |  | - |  |  | - |  |  | - |  |  |  | (420 | ) |  | (1,483 | ) |  | (1,680 | ) |  | (1,483 | )
| Interest income |  | 23 |  |  | 34 |  |  | 104 |  |  | 138 |  |  |  | (129 | ) |  | (239 | ) |  | (606 | ) |  | (863 | )
| Interest expense, net |  | (353 | ) |  | (376 | ) |  | (1,473 | ) |  | (1,611 | ) |  |  | 5,271 |  |  | 5,920 |  |  | 20,948 |  |  | 21,046 |
| Gain on sale of real estate |  | - |  |  | - |  |  | - |  |  | - |  |  |  | (74,798 | ) |  | (898 | ) |  | (75,980 | ) |  | (907 | )
| Net investment income |  | - |  |  | - |  |  | - |  |  | - |  |  |  | (4 | ) |  | - |  |  | (4 | ) |  | - |
| Total other expense, net | $ | (353 | ) |  | (376 | ) |  | (1,473 | ) |  | (1,611 | ) |  | $ | (69,531 | ) |  | 5,022 |  |  | (55,036 | ) |  | 20,139 |
| Share of NOI | $ | (1,998 | ) |  | (2,112 | ) |  | (8,400 | ) |  | (8,293 | ) |  | $ | 25,669 |  |  | 27,132 |  |  | 109,276 |  |  | 104,334 |

* 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 December 31, 2025 and 2024

(in thousands)

| Three Months Ended |  |  | Year Ended |
| 2025 |  | 2024 |  |  | 2025 |  | 2024 |
Same Property NOI Detail: |  |  |  |  |  |  |  |  |
Real Estate Revenues: |  |  |  |  |  |  |  |  |
Base rent | $ | 286,390 |  |  | 275,662 |  |  | $ | 1,130,009 |  |  | 1,085,391 |
Recoveries from tenants |  | 106,812 |  |  | 99,007 |  |  |  | 404,326 |  |  | 378,076 |
Percentage rent |  | 2,580 |  |  | 2,017 |  |  |  | 15,468 |  |  | 15,210 |
Termination fees |  | 1,837 |  |  | 2,363 |  |  |  | 6,983 |  |  | 6,502 |
Uncollectible lease income |  | (840 | ) |  | 153 |  |  |  | (2,644 | ) |  | (3,695 | )
Other lease income |  | 5,641 |  |  | 5,219 |  |  |  | 20,131 |  |  | 19,412 |
Other property income |  | 2,863 |  |  | 2,731 |  |  |  | 11,932 |  |  | 11,655 |
Total real estate revenues |  | 405,283 |  |  | 387,152 |  |  |  | 1,586,205 |  |  | 1,512,551 |
Real Estate Operating Expenses: |  |  |  |  |  |  |  |  |
Operating and maintenance |  | 71,059 |  |  | 66,789 |  |  |  | 265,592 |  |  | 252,950 |
Termination expense |  | 35 |  |  | 25 |  |  |  | 35 |  |  | 30 |
Real estate taxes |  | 54,559 |  |  | 52,740 |  |  |  | 205,725 |  |  | 199,700 |
Ground rent |  | 3,660 |  |  | 3,500 |  |  |  | 15,045 |  |  | 15,181 |
Total real estate operating expenses |  | 129,313 |  |  | 123,054 |  |  |  | 486,397 |  |  | 467,861 |
Same Property NOI | $ | 275,970 |  |  | 264,098 |  |  | $ | 1,099,808 |  |  | 1,044,690 |
% change |  | 4.5 | % |  |  |  |  | 5.3 | % |  |
Same Property NOI without Termination Fees | $ | 274,168 |  |  | 261,760 |  |  | $ | 1,092,860 |  |  | 1,038,218 |
% change |  | 4.7 | % |  |  |  |  | 5.3 | % |  |
Same Property NOI without Termination Fees or Redevelopments | $ | 232,571 |  |  | 225,894 |  |  | $ | 932,848 |  |  | 896,483 |
% change |  | 3.0 | % |  |  |  |  | 4.1 | % |  |
Percent Contribution to Same Property NOI Performance: |  |  |  |  |  |  |  |  |
Base rent |  | 4.1 | % |  |  |  |  | 4.3 | % |  |
Uncollectible lease income |  | -0.4 | % |  |  |  |  | 0.1 | % |  |
Net expense recoveries |  | 0.6 | % |  |  |  |  | 0.8 | % |  |
Other lease / property income |  | 0.2 | % |  |  |  |  | 0.1 | % |  |
Percentage rent |  | 0.2 | % |  |  |  |  | 0.0 | % |  |
Same Property NOI without Termination Fees (% impact) |  | 4.7 | % |  |  |  |  | 5.3 | % |  |
Reconciliation of Net Income Attributable to Common Shareholders to Same Property NOI: |  |  |  |  |  |
Net income attributable to common shareholders | $ | 199,068 |  |  | 83,066 |  |  | $ | 513,810 |  |  | 386,738 |
Less: |  |  |  |  |  |  |  |  |
Management, transaction, and other fees |  | (7,582 | ) |  | (7,978 | ) |  |  | (28,358 | ) |  | (27,874 | )
Other (1) |  | (13,649 | ) |  | (12,516 | ) |  |  | (53,842 | ) |  | (49,944 | )
Plus: |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | 105,936 |  |  | 95,206 |  |  |  | 405,044 |  |  | 394,714 |
General and administrative |  | 25,267 |  |  | 26,022 |  |  |  | 99,407 |  |  | 101,465 |
Other operating expense |  | 3,447 |  |  | 1,504 |  |  |  | 8,849 |  |  | 10,867 |
Other expense, net |  | 30,003 |  |  | 59,362 |  |  |  | 175,613 |  |  | 154,260 |
Equity in income of investments in real estate partnerships excluded from NOI (2) |  | (64,452 | ) |  | 14,601 |  |  |  | (24,223 | ) |  | 54,040 |
Net income attributable to noncontrolling interests |  | 5,653 |  |  | 2,200 |  |  |  | 13,491 |  |  | 9,452 |
Preferred stock dividends and issuance costs |  | 3,411 |  |  | 3,411 |  |  |  | 13,650 |  |  | 13,650 |
NOI |  | 287,102 |  |  | 264,878 |  |  |  | 1,123,441 |  |  | 1,047,368 |
Less non-same property NOI (3) |  | (11,132 | ) |  | (780 | ) |  |  | (23,633 | ) |  | (2,678 | )
Same Property NOI | $ | 275,970 |  |  | 264,098 |  |  | $ | 1,099,808 |  |  | 1,044,690 |
Less: Termination fees |  | (1,802 | ) |  | (2,338 | ) |  |  | (6,948 | ) |  | (6,472 | )
Pro-rata same property NOI excluding termination fees | $ | 274,168 |  |  | 261,760 |  |  | $ | 1,092,860 |  |  | 1,038,218 |

(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 December 31, 2025 and 2024

(in thousands, except per share data)

| Three Months Ended |  |  | Year Ended |
| 2025 |  | 2024 |  |  | 2025 |  | 2024 |
Reconciliation of Net Income Attributable to Common Shareholders to Nareit FFO: |  |  |  |  |  |  |  |
Net Income Attributable to Common Shareholders | $ | 199,068 |  |  | 83,066 |  |  | $ | 513,810 |  |  | 386,738 |
Adjustments to reconcile to Nareit Funds From Operations (1): |  |  |  |  |  |  |  |  |
Depreciation and amortization (excluding FF&E) |  | 109,388 |  |  | 102,816 |  |  |  | 430,684 |  |  | 422,581 |
Gain on sale of real estate, net of tax |  | (93,257 | ) |  | (1,216 | ) |  |  | (100,444 | ) |  | (35,069 | )
Provision for impairment of real estate |  | (30 | ) |  | 14,304 |  |  |  | 4,606 |  |  | 14,304 |
Exchangeable operating partnership units |  | 4,177 |  |  | 502 |  |  |  | 7,069 |  |  | 2,338 |
Nareit FFO | $ | 219,346 |  |  | 199,472 |  |  | $ | 855,725 |  |  | 790,892 |
Nareit FFO per share (diluted) | $ | 1.17 |  |  | 1.09 |  |  | $ | 4.64 |  |  | 4.30 |
Weighted average shares (diluted) |  | 186,950 |  |  | 182,900 |  |  |  | 184,538 |  |  | 184,139 |
Reconciliation of Nareit FFO to Core Operating Earnings: |  |  |  |  |  |  |  |  |
Nareit FFO | $ | 219,346 |  |  | 199,472 |  |  | $ | 855,725 |  |  | 790,892 |
Adjustments to reconcile to Core Operating Earnings (1): |  |  |  |  |  |  |  |  |
Not Comparable Items |  |  |  |  |  |  |  |  |
Merger transition costs |  | - |  |  | 649 |  |  |  | - |  |  | 7,718 |
Loss on early extinguishment of debt |  | - |  |  | - |  |  |  | - |  |  | 180 |
Certain Non-Cash Items |  |  |  |  |  |  |  |  |
Straight-line rent |  | (7,249 | ) |  | (6,073 | ) |  |  | (27,319 | ) |  | (22,980 | )
Uncollectible straight-line rent |  | 688 |  |  | 547 |  |  |  | 1,299 |  |  | 2,446 |
Above/below market rent amortization, net |  | (5,827 | ) |  | (5,521 | ) |  |  | (23,087 | ) |  | (23,431 | )
Debt and derivative mark-to-market amortization |  | 2,013 |  |  | 1,504 |  |  |  | 6,631 |  |  | 5,837 |
Core Operating Earnings | $ | 208,971 |  |  | 190,578 |  |  | $ | 813,249 |  |  | 760,662 |
Core Operating Earnings per share (diluted) | $ | 1.12 |  |  | 1.04 |  |  | $ | 4.41 |  |  | 4.13 |
Weighted average shares (diluted) |  | 186,950 |  |  | 182,900 |  |  |  | 184,538 |  |  | 184,139 |
Reconciliation of Core Operating Earnings to AFFO: |  |  |  |  |  |  |  |  |
Core Operating Earnings | $ | 208,971 |  |  | 190,578 |  |  | $ | 813,249 |  |  | 760,662 |
Adjustments to reconcile to AFFO (1): |  |  |  |  |  |  |  |  |
Operating capital expenditures |  | (47,226 | ) |  | (47,061 | ) |  |  | (137,335 | ) |  | (138,229 | )
Debt cost and derivative adjustments |  | 2,225 |  |  | 2,122 |  |  |  | 9,074 |  |  | 8,391 |
Stock-based compensation |  | 5,429 |  |  | 4,471 |  |  |  | 21,648 |  |  | 18,549 |
AFFO | $ | 169,399 |  |  | 150,110 |  |  | $ | 706,636 |  |  | 649,373 |

(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 December 31, 2025 and 2024

(in thousands)

|  | Three Months Ended |  |  | Year Ended |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Capital Expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Operating Properties (1) |  |  |  |  |  |  |  |  |  |  |  |
Tenant allowance and landlord work |  | $ | 20,062 |  |  |  | 20,652 |  |  | $ | 71,298 |  |  |  | 80,437 |
Leasing commissions |  |  | 6,165 |  |  |  | 5,342 |  |  |  | 22,053 |  |  |  | 17,611 |
Leasing Capital Expenditures |  |  | 26,227 |  |  |  | 25,994 |  |  |  | 93,351 |  |  |  | 98,048 |
Building improvements |  |  | 20,999 |  |  |  | 21,067 |  |  |  | 43,984 |  |  |  | 40,181 |
Operating Capital Expenditures |  | $ | 47,226 |  |  |  | 47,061 |  |  | $ | 137,335 |  |  |  | 138,229 |
Development & Redevelopment Properties (1) |  |  |  |  |  |  |  |  |  |  |  |
Ground-up development |  | $ | 52,757 |  |  |  | 19,476 |  |  | $ | 167,135 |  |  |  | 73,620 |
Redevelopment |  |  | 38,772 |  |  |  | 50,863 |  |  |  | 149,165 |  |  |  | 155,227 |
Development & Redevelopment Expenditures |  | $ | 91,529 |  |  |  | 70,339 |  |  | $ | 316,300 |  |  |  | 228,847 |
Reconciliation of Net Income to Nareit EBITDA re: |  |  |  |  |  |  |  |  |  |  |  |
Net Income |  | $ | 208,132 |  |  |  | 88,677 |  |  | $ | 540,951 |  |  |  | 409,840 |
Adjustments to reconcile to Nareit EBITDA re (2): |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 58,119 |  |  |  | 54,607 |  |  |  | 228,794 |  |  |  | 211,660 |
Income tax expense |  |  | 69 |  |  |  | 228 |  |  |  | 764 |  |  |  | 924 |
Depreciation and amortization |  |  | 111,020 |  |  |  | 104,218 |  |  |  | 436,792 |  |  |  | 428,425 |
Gain on sale of real estate, net of tax |  |  | (93,257 | ) |  |  | (1,216 | ) |  |  | (100,444 | ) |  |  | (35,069 | )
Provision for impairment of real estate |  |  | (30 | ) |  |  | 14,304 |  |  |  | 4,606 |  |  |  | 14,304 |
Nareit EBITDA re |  | $ | 284,053 |  |  |  | 260,818 |  |  | $ | 1,111,463 |  |  |  | 1,030,084 |
Reconciliation of Nareit EBITDAre to Operating EBITDAre: |  |  |  |  |  |  |  |  |  |  |  |
Nareit EBITDAre |  | $ | 284,053 |  |  |  | 260,818 |  |  | $ | 1,111,463 |  |  |  | 1,030,084 |
Adjustments to reconcile to Operating EBITDA re (2): |  |  |  |  |  |  |  |  |  |  |  |
Merger transition costs |  |  | - |  |  |  | 649 |  |  |  | - |  |  |  | 7,718 |
Loss on early extinguishment of debt |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 180 |
Straight-line rent, net |  |  | (6,617 | ) |  |  | (5,575 | ) |  |  | (26,181 | ) |  |  | (21,270 | )
Above/below market rent amortization, net |  |  | (5,827 | ) |  |  | (5,518 | ) |  |  | (23,069 | ) |  |  | (23,436 | )
Operating EBITDA re |  | $ | 271,609 |  |  |  | 250,374 |  |  | $ | 1,062,213 |  |  |  | 993,276 |

(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

December 31, 2025 and December 31, 2024

(in thousands)

Total Debt Outstanding: |  | 12/31/2025 |  |  | 12/31/2024 |
Notes Payable: |  |  |  |  |  |
Fixed rate mortgage loans(1) |  | $ | 746,437 |  |  | $ | 610,234 |
Variable rate mortgage loans |  |  | - |  |  |  | 9,586 |
Fixed rate unsecured public debt |  |  | 3,673,647 |  |  |  | 3,526,128 |
Fixed rate unsecured private debt |  |  | 199,217 |  |  |  | 197,752 |
Unsecured credit facility: |  |  |  |  |  |
Revolving line of credit |  |  | 120,000 |  |  |  | 65,000 |
Total |  | $ | 4,739,301 |  |  | $ | 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
2026 |  | $ | 12,836 |  |  |  | 147,848 |  |  |  | 200,000 |  |  |  | 360,684 |  |  | 3.94%
2027 |  |  | 10,051 |  |  |  | 222,558 |  |  |  | 525,000 |  |  |  | 757,609 |  |  | 3.65%
2028 |  |  | 8,365 |  |  |  | 51,939 |  |  |  | 420,000 |  |  |  | 480,304 |  |  | 4.40%
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 |  |  |  | 30,904 |  |  |  | - |  |  |  | 36,167 |  |  | 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%
2035 |  |  | 3,247 |  |  |  | - |  |  |  | 325,000 |  |  |  | 328,247 |  |  | 5.10%
>10 years |  |  | 6,471 |  |  |  | 102,652 |  |  |  | 725,000 |  |  |  | 834,123 |  |  | 4.65%
Unamortized debt premium/(discount), net of issuance costs |  |  | - |  |  |  | (32,394 | ) |  |  | (27,136 | ) |  |  | (59,530 | ) |  |
|  | $ | 66,526 |  |  |  | 679,911 |  |  |  | 3,992,864 |  |  |  | 4,739,301 |  |  | 4.20%

Percentage of Total Debt: |  | 12/31/2025 |  | 12/31/2024
Fixed |  | 97.5% |  | 98.3%
Variable |  | 2.5% |  | 1.7%
Current Weighted Average Contractual Interest Rates:(3) |  |  |  |
Fixed |  | 4.2% |  | 4.1%
Variable |  | 4.4% |  | 5.5%
Combined |  | 4.2% |  | 4.1%
Current Weighted Average Effective Interest Rate:(4) |  |  |  |
Combined |  | 4.5% |  | 4.4%
Average Years to Maturity: |  |  |  |
Fixed |  | 7.2 |  | 7.4
Variable |  | 2.3 |  | 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

December 31, 2025 and December 31, 2024

(in thousands)

|  | Contractual |  |  | Effective |  |  |  |  |  |
Lender | Collateral | Rate |  |  | Rate(1) | Maturity | 12/31/2025 |  |  | 12/31/2024 |
Secured Debt - Fixed Rate Mortgage Loans |  |  |  |  |  |  |  |  |  |
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 |  | 8,037 |  |  |  | 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 |  | 14,939 |  |  |  | 15,148 |
Voya Retire Insurance and Annuity Co. | Meadtown Shopping Center | 3.85% |  |  |  | 01/01/27 |  | 8,765 |  |  |  | 9,070 |
Voya Retire Insurance and Annuity Co. | Midland Park Shopping Center | 3.85% |  |  |  | 01/01/27 |  | 16,588 |  |  |  | 17,166 |
Voya Retire Insurance and Annuity Co. | Valley Ridge Shopping Center | 3.85% |  |  |  | 01/01/27 |  | 15,702 |  |  |  | 16,249 |
Voya Retire Insurance and Annuity Co. | Cedar Hill Shopping Center | 3.85% |  |  |  | 01/01/27 |  | 6,585 |  |  |  | 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 |  | 33,727 |  |  |  | 34,300 |
M&T Bank | Ridgeway Shopping Center | 3.40% |  |  |  | 07/01/27 |  | 40,688 |  |  |  | 41,940 |
New York Life Insurance | Oak Shade Town Center | 6.05% |  |  |  | 05/10/28 |  | 2,369 |  |  |  | 3,253 |
Provident Bank | Washington Commons | 4.83% |  |  |  | 08/15/28 |  | 8,210 |  |  |  | 8,494 |
TD Bank | Brick Walk Shopping Center | 6.71% |  |  |  | 09/19/28 |  | 30,234 |  |  |  | 30,591 |
New York Life Insurance | Von's Circle Center | 5.20% |  |  |  | 10/10/28 |  | 2,634 |  |  |  | 3,475 |
Bank of New York Mellon | Putnam Plaza | 4.81% |  |  |  | 10/17/28 |  | 16,531 |  |  |  | - |
American United Life Insurance Company | Ferry Plaza | 4.63% |  |  |  | 04/01/29 |  | 8,131 |  |  |  | 8,471 |
M&T Bank | Old Kings Market | 4.82% |  |  |  | 04/03/29 |  | 22,111 |  |  |  | 22,607 |
Bank of New York Mellon | Lakeview Shopping Center | 3.63% |  |  |  | 06/25/29 |  | 10,407 |  |  |  | 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 |  | 18,175 |  |  |  | 18,737 |
American United Life Insurance Company | South Pass Village | 3.50% |  |  |  | 11/01/31 |  | 19,258 |  |  |  | 19,705 |
RGA Reinsurance Company | Boonton Shopping Center | 3.45% |  |  |  | 01/01/32 |  | 10,123 |  |  |  | 10,358 |
Bank of New York Mellon | The Dock-Dockside & The Dock-Railside | 3.05% |  |  |  | 01/31/32 |  | 32,125 |  |  |  | 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 |  | 137 |  |  |  | 151 |
John Hancock | Terrace Shops | 3.87% |  |  |  | 06/01/32 |  | 14,007 |  |  |  | - |
First County Bank | Old Greenwich CVS | 5.63% |  |  |  | 06/01/37 |  | 799 |  |  |  | 846 |
John Hancock | Sendero Marketplace | 4.45% |  |  |  | 07/01/37 |  | 6,567 |  |  |  | - |
John Hancock | Sendero Marketplace | 4.52% |  |  |  | 07/01/37 |  | 37,971 |  |  |  | - |
State Farm | Bridgepark Plaza | 3.63% |  |  |  | 03/01/38 |  | 17,383 |  |  |  | - |
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 |
Prudential Insurance Company of America | Country Walk Plaza | 3.91% |  |  |  | 11/05/25 |  | - |  |  |  | 16,000 |
Unamortized discount on assumed debt of acquired properties, net of issuance costs |  |  |  |  |  | (32,394 | ) |  |  | (7,492 | )
Total Fixed Rate Mortgage Loans | 4.12% |  |  | 4.68% |  | $ | 746,437 |  |  | $ | 610,234 |
Unsecured Debt |  |  |  |  |  |  |  |  |  |  |
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 |
Debt Offering (8/17/15) | Fixed-rate unsecured | 3.90% |  |  |  | 11/03/25 |  | - |  |  |  | 250,000 |
Revolving Line of Credit | Variable-rate unsecured | Adjusted SOFR + 0.685% | (2) |  |  | 03/23/28 |  | 120,000 |  |  |  | 65,000 |
Unamortized debt discount and issuance costs |  |  |  |  |  | (27,136 | ) |  |  | (26,120 | )
Total Unsecured Debt, Net of Discounts | 4.20% |  |  | 4.35% |  | $ | 3,992,864 |  |  | $ | 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 |
|  | 4.20% |  |  | 4.51% |  | $ | 4,739,301 |  |  | $ | 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

December 31, 2025

(in thousands)

Outstanding Unsecured Public Debt: |  | Origination |  | Maturity |  | Rate |  | Balance |
|  | 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 |  | 12/31/2025 |  | 9/30/2025 |  | 6/30/2025 |  | 3/31/2025 |  | 12/31/2024
Fair Market Value Calculation Method Covenants(1)(2) |  |  |  |  |  |  |  |  |  |  |
Total Consolidated Debt to Total Consolidated Assets | ≤ 65% |  | 27% |  | 28% |  | 28% |  | 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 |  | 4.8x |  | 4.5x |  | 4.3x |  | 4.6x |  | 4.6x
Unencumbered Consolidated Assets to Unsecured Consolidated Debt | >150% |  | 396% |  | 378% |  | 374% |  | 380% |  | 396%
Ratios:(3) |  |  | 12/31/2025 |  | 9/30/2025 |  | 6/30/2025 |  | 3/31/2025 |  | 12/31/2024
Consolidated Only |  |  |  |  |  |  |  |  |  |  |
Net debt to total market capitalization |  |  | 26.0% |  | 25.5% |  | 26.0% |  | 25.0% |  | 24.1%
Net debt to real estate assets, before depreciation |  |  | 30.9% |  | 31.8% |  | 32.2% |  | 31.8% |  | 30.8%
Net debt to total assets, before depreciation |  |  | 28.6% |  | 29.4% |  | 29.6% |  | 29.4% |  | 28.4%
Net debt and preferreds to Operating EBITDAre - TTM |  |  | 4.6x |  | 4.8x |  | 4.9x |  | 4.9x |  | 4.7x
Fixed charge coverage |  |  | 4.6x |  | 4.6x |  | 4.6x |  | 4.7x |  | 4.7x
Interest coverage |  |  | 5.2x |  | 5.2x |  | 5.2x |  | 5.3x |  | 5.3x
Unsecured assets to total real estate assets |  |  | 87.3% |  | 86.9% |  | 88.3% |  | 88.3% |  | 88.8%
Unsecured NOI to total NOI - TTM |  |  | 89.2% |  | 89.5% |  | 89.4% |  | 89.4% |  | 89.3%
Unencumbered assets to unsecured debt |  |  | 317% |  | 300% |  | 295% |  | 306% |  | 319%
Total Pro-Rata Share |  |  |  |  |  |  |  |  |  |  |
Net debt to total market capitalization |  |  | 28.2% |  | 27.7% |  | 28.3% |  | 27.3% |  | 26.4%
Net debt to real estate assets, before depreciation |  |  | 32.4% |  | 33.4% |  | 33.8% |  | 33.4% |  | 32.5%
Net debt to total assets, before depreciation |  |  | 29.9% |  | 30.7% |  | 31.0% |  | 30.8% |  | 30.0%
Net debt and preferreds to Operating EBITDAre - TTM |  |  | 5.1x |  | 5.3x |  | 5.3x |  | 5.3x |  | 5.2x
Fixed charge coverage |  |  | 4.2x |  | 4.2x |  | 4.2x |  | 4.3x |  | 4.3x
Interest coverage |  |  | 4.7x |  | 4.7x |  | 4.7x |  | 4.8x |  | 4.8x

(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

December 31, 2025 and December 31, 2024

(in thousands)

Total Debt Outstanding: |  | 12/31/2025 |  |  | 12/31/2024 |
Mortgage loans payable: |  |  |  |  |  |
Fixed rate secured loans |  | $ | 1,442,870 |  |  | $ | 1,459,373 |
Variable rate secured loans |  |  | 60,080 |  |  |  | 69,379 |
Unsecured credit facility variable rate |  |  | 20,000 |  |  |  | 35,800 |
Total |  | $ | 1,522,950 |  |  | $ | 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
2026 |  | $ | 7,131 |  |  |  | 265,346 |  |  |  | 20,000 |  |  |  | 292,477 |  |  | 5.19% |  |  | 95,689 |  |  | 5.27%
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 |  |  |  | 340,600 |  |  |  | - |  |  |  | 341,558 |  |  | 3.14% |  |  | 132,608 |  |  | 3.13%
2032 |  |  | 585 |  |  |  | 206,534 |  |  |  | - |  |  |  | 207,119 |  |  | 3.56% |  |  | 71,239 |  |  | 3.38%
2033 |  |  | 406 |  |  |  | - |  |  |  | - |  |  |  | 406 |  |  | 0.00% |  |  | 81 |  |  | -
2034 |  |  | 210 |  |  |  | 37,497 |  |  |  | - |  |  |  | 37,707 |  |  | 6.11% |  |  | 13,941 |  |  | 6.27%
2035 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  | 0.00% |  |  | - |  |  | -
Unamortized debt premium/(discount) and issuance costs (2) |  |  | - |  |  |  | (7,283 | ) |  |  | - |  |  |  | (7,283 | ) |  |  |  |  | (2,604 | ) |  |
|  | $ | 25,894 |  |  |  | 1,477,056 |  |  |  | 20,000 |  |  |  | 1,522,950 |  |  | 4.15% |  |  | 541,006 |  |  | 4.11%

Percentage of Total Debt: |  | 12/31/2025 |  | 12/31/2024
Fixed |  | 94.7% |  | 93.3%
Variable |  | 5.3% |  | 6.7%
Current Weighted Average Contractual Interest Rates:(1) |  |  |  |
Fixed |  | 4.0% |  | 3.9%
Variable |  | 6.1% |  | 6.8%
Combined |  | 4.2% |  | 4.1%
Current Weighted Average Effective Interest Rates:(2) |  |  |  |
Combined |  | 4.3% |  | 4.2%
Average Years to Maturity: |  |  |  |
Fixed |  | 4.2 |  | 4.5
Variable |  | 0.9 |  | 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

December 31, 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 | 12/31/2025 | in Income
State of Oregon |  |  |  |  |  |  |  |  |
(JV-C2) | 23 | 2,649 | $643,088 | $305,165 |  | 20.00% | $61,033 | $60,354 | $4,503
(JV-CCV) | 1 | 606 | 97,702 | 74,854 |  | 30.00% | 22,456 | 6,295 | 2,255
| 24 | 3,255 | 740,790 | 380,019 |  |  |  |  |
GRI |  |  |  |  |  |  |  |  |
(JV-GRI) (1) | 55 | 7,623 | 1,330,890 | 890,061 |  | 40.00% | 356,024 | 112,235 | 115,312
Individual Investors |  |  |  |  |  |  |  |  |
Ballard Blocks | 2 | 249 | 111,958 | - |  | 49.90% | - | 57,831 | 1,699
Bloom on Third | 1 | 73 | 277,647 | 149,668 |  | 35.00% | 52,384 | 46,860 | 1,802
Others (2) (3) | 8 | 1,075 | 205,986 | 103,202 |  | 11.80% - 83.00% | 49,109 | 66,281 | 7,928
| 90 | 12,275 | $2,667,271 | $1,522,950 |  |  | $541,006 | $349,856 | $133,499

(1)
Effective October 1, 2025, 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 combined purchase price of $23.7 million. Upon acquisition, these properties were consolidated into Regency’s financial statements.

Supplemental Information 15

P roperty Transactions

December 31, 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
Oct-25 | Hammocks Town Center |  | Miami, FL | 187 | 71,925 |  | Publix
| All Other Dispositions (each individually less than $2.5M) | 3 | 1,000 |  |
| Property Dispositions |  | 359 | $109,954 | 5.6% |
| Non-Income Producing Land |  |  | $8,750 |  |

(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 5.6% 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

December 31, 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 | 73% | 0 |  |  | $372M | 41% | 7% +/-
Sienna Grande Shops (2)(3) | 0 | Houston, TX | Retail | 65% | Q2-2023 | 1H-2025 | 2027 | $9M | 92% | 8% +/-
The Shops at SunVet (2) | 0 | Long Island, NY | Whole Foods | 74% | Q2-2023 | 1H-2026 | 2027 | $95M | 89% | 7% +/-
Oakley Shops at Laurel Fields (2) | 0 | Bay Area, CA | Safeway | 96% | Q3-2024 | 2H-2025 | 2026 | $36M | 88% | 7% +/-
The Village at Seven Pines (2) | 0 | Jacksonville, FL | Publix | 58% | Q3-2025 | 1H-2027 | 2028 | $112M | 16% | 8% +/-
Ellis Village Center (South) (2) | 0 | Bay Area, CA | Sprouts | 86% | Q3-2025 | 2H-2026 | 2028 | $30M | 16% | 7% +/-
Culver Commons (2) |  | Los Angeles, CA | Retail | 66% | Q4-2025 | 1H-2027 | 2028 | $16M | 6% | 7% +/-
Lone Tree Village (2) |  | Denver, CO | King Soopers | 81% | Q4-2025 | 1H-2027 | 2028 | $31M | 17% | 7% +/-
Oak Valley Village (2)(3) |  | Los Angeles, CA | Target, Sprouts | 74% | Q4-2025 | 2H-2027 | 2028 | $44M | 3% | 7% +/-
Redevelopments | 93% | 0 |  |  | $225M | 47% | 10% +/-
Bloom on Third (3)(4) | 0 | Los Angeles, CA | Whole Foods | 88% | Q4-2022 | 2H-2026 | 2027 | $25M | 73% | 15% +/-
Serramonte Center - Phase 3 | 0 | San Francisco, CA | Jagalchi | 96% | Q2-2023 | 1H-2025 | 2026 | $37M | 48% | 11% +/-
West Chester Plaza | 0 | Cincinnati, OH | Kroger | 100% | Q4-2024 | 2H-2027 | 2028 | $15M | 34% | 8% +/-
Willows Shopping Center | 0 | Bay Area, CA | Retail | 85% | Q4-2024 | 1H-2026 | 2027 | $17M | 40% | 9% +/-
The Crossing Clarendon | 0 | Metro DC | Whole Foods | 92% | Q2-2025 | 1H-2026 | 2027 | $14M | 35% | 7% +/-
East Meadow Plaza - Phase 1 | 0 | Long Island, NY | Lidl | 90% | Q3-2024 | 2H-2025 | 2026 | $12M | 68% | 17% +/-
East Meadow Plaza - Phase 2A | 0 | Long Island, NY | Lidl | 90% | Q3-2025 | 2H-2026 | 2027 | $16M | 37% | 8% +/-
Various Redevelopments (est costs < $10 million individually) | 92% |  |  |  | $90M | 44% | 12% +/-
Total In-Process (In Construction) |  | 0 |  |  | $597M | 43% | 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 |  |  |  |  | $100M | 91% | 8% +/-
Baybrook East - Phase 1B (2)(3) |  | Houston, TX | Q2-2022 | 2H-2023 | 2026 | $10M | 98% | 10% +/-
The Shops at Stone Bridge (2) |  | Cheshire, CT | Q1-2024 | 2H-2025 | 2026 | $67M | 90% | 7% +/-
Jordan Ranch Market (2)(3) |  | Houston, TX | Q3-2024 | 2H-2025 | 2026 | $23M | 92% | 7% +/-
Redevelopments |  |  |  |  |  | $113M | 94% | 12% +/-
Circle Marina Shops & Marketplace |  | Los Angeles, CA | Q3-2023 | 2H-2024 | 2025 | $15M | 99% | 9% +/-
Avenida Biscayne |  | Miami, FL | Q4-2023 | 1H-2025 | 2026 | $22M | 93% | 12% +/-
Anastasia Plaza |  | Jacksonville, FL | Q3-2024 | 2H-2025 | 2026 | $15M | 90% | 7% +/-
Cambridge Square |  | Atlanta, GA | Q4-2023 | 2H-2025 | 2026 | $13M | 93% | 8% +/-
Redevelopment Completions (est costs < $10 million individually) | - |  |  | $47M | 95% | 17% +/-
Total Completions |  |  |  | $212M | 93% | 10% +/-

(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: Sienna Grande Shops (75%); Oak Valley Village (75%); Bloom on Third (35%); Baybrook East (50%); and Jordan Ranch Market (50%)
(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 $656M for Ground-up Developments and Redevelopments In-Process. Percent of costs incurred is 44% for Ground-up Developments and Redevelopments In-Process.

Supplemental Information 17

Summar y of In-Process Developments and Redevelopments

December 31, 2025

In-Process Development and Redevelopment Descriptions |  |  |  |  | 0
Ground-up Developments |  |  |  |  |  |  |  |  |  | 0
Sienna Grande Shops |  | 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 |  | 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.
Oakley Shops at Laurel Fields |  | 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 |  | 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) |  | Located in the Bay Area, 49K SF shopping center anchored by Sprouts and multiple shop buildings.
Culver Commons |  | 13K SF retail center in extremely high barrier to entry West L.A. submarket.
Lone Tree Village |  | 158K SF development in a high-growth corridor of Denver, CO, featuring a best-in-class grocer.
Oak Valley Village |  | Located east of L.A., the 230K SF ground-up development will feature Target and Sprouts.
Redevelopments |  |  |  |  |  |  |  |  |  | 0
Bloom on Third |  | 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 |  | 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.
West Chester Plaza |  | 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 |  | 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 |  | Reconfiguration of a two-level junior anchor box, with multiple leading retailers, plus façade enhancements and other site improvements.
East Meadow Plaza - Phase 1 |  | 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 |  | 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) |  | Various Redevelopment properties where estimated incremental costs at each project are less than $10 million.

Supplemental Information 18

L easing Statistics

December 31, 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.
4th Quarter 2025 | 377 | 1,652 | $29.22 | 12.0% | 24.5% | 6.8 | $8.92
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
Total - 12 months | 1,549 | 6,796 | $27.84 | 10.8% | 21.4% | 6.2 | $7.18
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.
4th Quarter 2025 | 106 | 366 | $37.21 | 10.2% | 24.6% | 8.9 | $39.99
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
Total - 12 months | 384 | 1,199 | $36.02 | 15.2% | 29.1% | 9.5 | $39.01
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.
4th Quarter 2025 | 271 | 1,286 | $27.08 | 12.6% | 24.5% | 6.2 | $0.59
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
Total - 12 months | 1,165 | 5,597 | $26.18 | 9.7% | 19.3% | 5.6 | $0.74
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.
4th Quarter 2025 | 448 | 1,959 | $29.84 |  |  | 7.2 | $16.79
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
Total - 12 months | 1,834 | 7,915 | $27.82 |  |  | 6.6 | $11.74

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

December 31, 2025

(Retail Operating Properties Only)

New Lease Net Effective Rent (1) |  |  |  |  |  |  |  |
|  | Trailing Twelve Months |  | Three Months Ended
|  | 12/31/2025 |  | 12/31/2025 |  | 9/30/2025 |  | 6/30/2025 |  | 3/31/2025 |  | 12/31/2024
New Leases weighted avg. over lease term: |  |  |  |  |  |  |  |  |  |  |  |
Base rent |  | $37.26 |  | $40.50 |  | $30.29 |  | $42.01 |  | $38.91 |  | $35.68
Tenant allowance and landlord work (2) |  | (5.09) |  | (6.14) |  | (3.25) |  | (6.00) |  | (5.57) |  | (6.68)
Third party leasing commissions |  | (1.19) |  | (1.30) |  | (0.82) |  | (1.40) |  | (1.44) |  | (1.22)
Net Effective Rent |  | $30.98 |  | $33.06 |  | $26.22 |  | $34.62 |  | $31.90 |  | $27.79
Net effective rent/base rent |  | 83% |  | 82% |  | 87% |  | 82% |  | 82% |  | 78%
Weighted avg. lease term (years) |  | 10.4 |  | 9.6 |  | 12.8 |  | 9.5 |  | 8.4 |  | 9.4
Percent of New Leases by Anchor & Shop |  |  |  |  |  |  |  |  |  |  |  |
Anchor |  | 42% |  | 44% |  | 56% |  | 27% |  | 28% |  | 35%
Shop |  | 58% |  | 56% |  | 44% |  | 73% |  | 72% |  | 65%
Leases Signed Not Yet Commenced (3) |  |  |  |
As of 12/31/2025: |  | Leases |  | GLA (in 000s) |  | Annual ABR ($ in 000s) |  | Annual ABR ($ PSF) |  |  |  |
Anchor |  | 32 |  | 652 |  | $13,352 |  | $23.04 |  |  |  |
Shop |  | 306 |  | 784 |  | 31,223 |  | 43.96 |  |  |  |
Total |  | 338 |  | 1,436 |  | $44,575 |  | $34.56 |  |  |  |

(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

December 31, 2025

(in thousands)

State |  | Number of Properties | GLA | % Leased(1) | ABR | ABR/Sq. Ft. | % of Number of Properties | % of GLA | % of ABR
California |  | 78 | 10,185 | 95.0% | $307,961 | $31.87 | 16.2% | 20.2% | 24.5%
Florida |  | 92 | 10,855 | 96.3% | 231,945 | 22.39 | 19.1% | 21.5% | 18.5%
New York |  | 46 | 3,668 | 94.7% | 110,000 | 31.94 | 9.6% | 7.3% | 8.8%
Connecticut |  | 42 | 3,954 | 95.8% | 105,863 | 28.07 | 8.7% | 7.8% | 8.4%
Texas |  | 33 | 3,931 | 95.8% | 82,882 | 22.10 | 6.9% | 7.8% | 6.6%
Georgia |  | 22 | 2,152 | 96.7% | 52,293 | 25.49 | 4.6% | 4.3% | 4.2%
Virginia |  | 18 | 1,631 | 97.0% | 49,657 | 31.70 | 3.7% | 3.2% | 4.0%
New Jersey |  | 20 | 1,697 | 95.9% | 41,186 | 25.31 | 4.2% | 3.4% | 3.3%
North Carolina |  | 17 | 1,612 | 97.9% | 37,739 | 24.03 | 3.5% | 3.2% | 3.0%
Washington |  | 17 | 1,268 | 97.0% | 36,402 | 30.20 | 3.5% | 2.5% | 2.9%
Illinois |  | 11 | 1,362 | 98.5% | 30,407 | 22.66 | 2.3% | 2.7% | 2.4%
Massachusetts |  | 8 | 905 | 97.1% | 28,437 | 32.46 | 1.7% | 1.8% | 2.3%
Colorado |  | 19 | 1,540 | 95.8% | 25,342 | 17.15 | 4.0% | 3.1% | 2.0%
Pennsylvania |  | 8 | 747 | 97.1% | 19,824 | 27.34 | 1.7% | 1.5% | 1.6%
Maryland |  | 11 | 638 | 98.3% | 19,467 | 31.62 | 2.3% | 1.3% | 1.5%
Ohio |  | 8 | 1,213 | 98.9% | 16,618 | 13.93 | 1.7% | 2.4% | 1.3%
Oregon |  | 8 | 784 | 95.7% | 16,698 | 22.31 | 1.7% | 1.6% | 1.3%
Minnesota |  | 5 | 390 | 90.0% | 7,443 | 21.26 | 1.0% | 0.8% | 0.6%
Indiana |  | 3 | 428 | 96.5% | 8,126 | 19.69 | 0.6% | 0.8% | 0.6%
Tennessee |  | 4 | 638 | 98.7% | 12,229 | 19.46 | 0.8% | 1.3% | 1.0%
Delaware |  | 2 | 258 | 93.5% | 4,709 | 19.65 | 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% | 2,291 | 27.63 | 0.4% | 0.2% | 0.2%
Rhode Island |  | 1 | 111 | 100.0% | 2,409 | 21.68 | 0.2% | 0.2% | 0.2%
Washington, D.C. |  | 2 | 30 | 100.0% | 1,602 | 54.19 | 0.4% | 0.1% | 0.1%
Total All Properties |  | 481 | 50,489 | 96.1% | $1,256,098 | $26.03 | 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

December 31, 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 | 4,991 | 94.9% | $150,835 | $31.83 | 13.3% | 9.9% | 12.0%
2) Los Angeles-Long Beach-Anaheim |  | 30 | 3,167 | 97.4% | $105,821 | $34.30 | 6.2% | 6.3% | 8.4%
3) Chicago-Naperville-Elgin |  | 12 | 1,651 | 98.7% | $35,652 | $21.88 | 2.5% | 3.3% | 2.8%
4) Dallas-Fort Worth-Arlington |  | 11 | 917 | 98.3% | $21,483 | $23.83 | 2.3% | 1.8% | 1.7%
5) Houston-Woodlands-Sugar Land |  | 16 | 2,130 | 93.9% | $42,014 | $21.00 | 3.3% | 4.2% | 3.3%
6) Atlanta-SandySprings-Alpharett |  | 22 | 2,152 | 97.5% | $52,293 | $25.14 | 4.6% | 4.3% | 4.2%
7) Washington-Arlington-Alexandri |  | 25 | 1,869 | 96.7% | $58,754 | $32.24 | 5.2% | 3.7% | 4.7%
8) Philadelphia-Camden-Wilmington |  | 9 | 1,129 | 95.9% | $19,902 | $18.38 | 1.9% | 2.2% | 1.6%
9) Miami-Ft Lauderdale-PompanoBch |  | 39 | 4,993 | 96.1% | $120,905 | $25.21 | 8.1% | 9.9% | 9.6%
10) Phoenix-Mesa-Chandler |  | - | - | - | - | - | - | - | -
11) Boston-Cambridge-Newton |  | 8 | 918 | 98.0% | $27,763 | $30.86 | 1.7% | 1.8% | 2.2%
12) San Francisco-Oakland-Berkeley |  | 19 | 3,449 | 92.3% | $103,521 | $32.50 | 4.0% | 6.8% | 8.2%
13) Rvrside-San Bernardino-Ontario |  | 2 | 344 | 82.8% | $4,856 | $17.05 | 0.4% | 0.7% | 0.4%
14) Detroit-Warren-Dearborn |  | - | - | - | - | - | - | - | -
15) Seattle-Tacoma-Bellevue |  | 17 | 1,268 | 97.0% | $36,402 | $29.59 | 3.5% | 2.5% | 2.9%
16) Minneapol-St. Paul-Bloomington |  | 5 | 390 | 90.0% | $7,443 | $21.24 | 1.0% | 0.8% | 0.6%
17) Tampa-St Petersburg-Clearwater |  | 9 | 1,309 | 97.8% | $28,290 | $21.73 | 1.9% | 2.6% | 2.3%
18) San Diego-Chula Vista-Carlsbad |  | 10 | 1,383 | 99.4% | $43,996 | $32.55 | 2.1% | 2.7% | 3.5%
19) Denver-Aurora-Lakewood |  | 11 | 1,073 | 95.0% | $16,841 | $16.53 | 2.3% | 2.1% | 1.3%
20) Orlando-Kissimmee-Sanford |  | 7 | 833 | 97.0% | $17,274 | $21.45 | 1.5% | 1.6% | 1.4%
21) Charlotte-Concord-Gastonia |  | 4 | 609 | 99.3% | $15,619 | $26.47 | 0.8% | 1.2% | 1.2%
22) Baltimore-Columbia-Towson |  | 4 | 267 | 96.7% | $7,616 | $29.06 | 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 | 94.4% | $19,384 | $22.42 | 1.2% | 1.8% | 1.5%
26) Portland-Vancouver-Hillsboro |  | 5 | 442 | 97.7% | $9,601 | $23.00 | 1.0% | 0.9% | 0.8%
27) Sacramento-Roseville-Folsom |  | 4 | 318 | 99.4% | $7,578 | $23.99 | 0.8% | 0.6% | 0.6%
28) Pittsburgh |  | - | - | - | - | - | - | - | -
29) Las Vegas-Henderson-Paradise |  | - | - | - | - | - | - | - | -
30) Cincinnati |  | 5 | 884 | 98.8% | $12,525 | $14.34 | 1.0% | 1.8% | 1.0%
31) Kansas City |  | - | - | - | - | - | - | - | -
32) Nashvil-Davdsn-Murfree-Frankln |  | 4 | 638 | 90.4% | $12,229 | $19.43 | 0.8% | 1.3% | 1.0%
33) Indianapolis-Carmel-Anderson |  | 2 | 139 | 98.7% | $2,881 | $22.96 | 0.4% | 0.3% | 0.2%
34) Cleveland-Elyria |  | - | - | - | - | - | - | - | -
35) San Jose-Sunnyvale-Santa Clara |  | 6 | 653 | 97.3% | $21,205 | $33.37 | 1.2% | 1.3% | 1.7%
36) Virginia Beach-Norfolk-Newport News |  | - | - | - | - | - | - | - | -
37) Jacksonville |  | 21 | 2,165 | 94.2% | $38,548 | $18.89 | 4.4% | 4.3% | 3.1%
38) Providence-Warwick |  | - | - | - | - | - | - | - | -
39) Raleigh-Cary |  | 9 | 705 | - | $16,668 | $23.83 | 1.9% | 1.4% | 1.3%
40) Milwaukee-Waukesha |  | - | - | 99.2% | - | - | - | - | -
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 | - | $6,213 | $20.99 | 0.4% | 0.6% | 0.5%
50) Tucson |  | - | - | - | - | - | - | - | -
Top 50 CBSAs by Population |  | 392 | 42,381 | 96.1% | $1,068,683 | $26.40 | 81.5% | 83.9% | 85.1%
CBSAs Ranked 51 - 75 by Population |  | 47 | 4,093 | 96.6% | $115,217 | $29.28 | 9.8% | 8.1% | 9.2%
CBSAs Ranked 76 - 100 by Population |  | 22 | 1,996 | 96.6% | $37,802 | $19.64 | 4.6% | 4.0% | 3.0%
Other CBSAs |  | 20 | 2,019 | 95.1% | $34,396 | $17.99 | 4.2% | 4.0% | 2.7%
Total All Properties |  | 481 | 50,489 | 96.1% | $1,256,098 | $26.03 | 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

December 31, 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)

December 31, 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 | 2,940 |  | 5.8% |  | $36,191 |  | 2.9% | 67
2 | TJX Companies, Inc.(1) | 1,840 |  | 3.6% |  | 33,760 |  | 2.7% | 76
3 | Albertsons Companies, Inc.(2) | 2,053 |  | 4.1% |  | 33,619 |  | 2.7% | 52
4 | Amazon/Whole Foods(3) | 1,312 |  | 2.6% |  | 31,808 |  | 2.5% | 39
5 | Kroger Co.(4) | 2,978 |  | 5.9% |  | 31,292 |  | 2.5% | 51
6 | Ahold Delhaize(5) | 924 |  | 1.8% |  | 23,189 |  | 1.8% | 20
7 | CVS | 808 |  | 1.6% |  | 21,942 |  | 1.7% | 66
8 | JPMorgan Chase Bank | 225 |  | 0.4% |  | 12,548 |  | 1.0% | 63
9 | Trader Joe's | 346 |  | 0.7% |  | 12,156 |  | 1.0% | 32
10 | L.A. Fitness Sports Club | 516 |  | 1.0% |  | 11,311 |  | 0.9% | 14
11 | Nordstrom(6) | 402 |  | 0.8% |  | 11,134 |  | 0.9% | 12
12 | Starbucks | 160 |  | 0.3% |  | 10,424 |  | 0.8% | 99
13 | H.E. Butt Grocery Company(7) | 706 |  | 1.4% |  | 10,125 |  | 0.8% | 8
14 | Ross Dress For Less | 587 |  | 1.2% |  | 9,692 |  | 0.8% | 25
15 | Target | 919 |  | 1.8% |  | 9,387 |  | 0.7% | 8
16 | Bank of America | 163 |  | 0.3% |  | 9,088 |  | 0.7% | 41
17 | Gap, Inc.(8) | 259 |  | 0.5% |  | 8,805 |  | 0.7% | 20
18 | Wells Fargo Bank | 152 |  | 0.3% |  | 8,711 |  | 0.7% | 49
19 | JAB Holding Company(9) | 168 |  | 0.3% |  | 7,282 |  | 0.6% | 59
20 | Walgreens Boots Alliance(10) | 255 |  | 0.5% |  | 6,796 |  | 0.5% | 22
21 | Petco Health & Wellness Company, Inc.(11) | 275 |  | 0.5% |  | 6,762 |  | 0.5% | 26
22 | Ulta | 224 |  | 0.4% |  | 6,680 |  | 0.5% | 25
23 | Xponential Fitness(12) | 163 |  | 0.3% |  | 6,650 |  | 0.5% | 97
24 | Kohl's | 526 |  | 1.0% |  | 6,389 |  | 0.5% | 7
25 | Five Below | 209 |  | 0.4% |  | 5,977 |  | 0.5% | 27
| Top Tenants | 19,110 |  | 37.5% |  | $371,718 |  | 29.6% | 1,005

(1)
TJ Maxx 28 / Marshalls 24 / Homegoods 21 / Homesense 2 / Sierra Trading Post 1
(2)
Safeway 21 / VONS 8 / Acme 7 / Albertson's 5 / Shaw's 3 / Tom Thumb 3 / Randalls 1 / Star Market 1 / Pavilions 1 / King's Food Market 1 / Jewel-Osco 1
(3)
Whole Foods 34 / Amazon Fresh 4 / Amazon 1
(4)
Kroger 18 / King Soopers 11 / Ralphs 9 / Harris Teeter 8 / Mariano's Fresh Market 3 / Quality Food Centers 2
(5)
Stop & Shop 10 / Giant 9 / Food Lion 1
(6)
Nordstrom Rack 12
(7)
H.E.B. 7 / Central Market 1
(8)
Old Navy 12 / Athleta 2 / The Gap 4 / Banana Republic 2
(9)
Panera 27 / Peet's' Coffee & Tea 11 / Einstein Bros Bagels 10 / Bruegger's Bagel 5 / Krispy Kreme 3 / Noah's NY Bagels 3
(10)
Walgreens 22
(11)
Petco 23 / Unleashed by Petco 3

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

December 31, 2025

(GLA in thousands)

|  | Anchor Tenants |  |
Year |  | GLA |  | Percent of GLA |  | Percent of Total ABR(1) |  | ABR
MTM(2) |  | 31 |  | 0.1% |  | 0.0% |  | $13.91
2026 |  | 1,275 |  | 2.7% |  | 1.6% |  | 15.69
2027 |  | 3,674 |  | 7.7% |  | 5.1% |  | 16.97
2028 |  | 3,468 |  | 7.3% |  | 5.1% |  | 18.04
2029 |  | 4,425 |  | 9.3% |  | 5.6% |  | 15.59
2030 |  | 3,708 |  | 7.8% |  | 5.6% |  | 18.44
2031 |  | 2,810 |  | 5.9% |  | 3.9% |  | 16.94
2032 |  | 1,060 |  | 2.2% |  | 1.6% |  | 18.43
2033 |  | 1,163 |  | 2.4% |  | 1.9% |  | 20.11
2034 |  | 1,039 |  | 2.2% |  | 1.6% |  | 18.75
2035 |  | 1,452 |  | 3.1% |  | 2.1% |  | 17.51
10 Year Total |  | 24,104 |  | 50.7% |  | 34.0% |  | $17.35
Thereafter |  | 5,609 |  | 11.8% |  | 8.0% |  | 17.50
|  | 29,713 |  | 62.5% |  | 41.9% |  | $17.37

|  | Shop Tenants |  |
Year |  | GLA |  | Percent of GLA |  | Percent of Total ABR(1) |  | ABR
MTM(2) |  | 192 |  | 0.4% |  | 0.5% |  | $30.73
2026 |  | 1,715 |  | 3.6% |  | 5.3% |  | 37.94
2027 |  | 2,565 |  | 5.4% |  | 7.9% |  | 37.78
2028 |  | 2,521 |  | 5.3% |  | 8.2% |  | 40.23
2029 |  | 2,318 |  | 4.9% |  | 7.5% |  | 40.06
2030 |  | 2,248 |  | 4.7% |  | 7.5% |  | 40.89
2031 |  | 1,528 |  | 3.2% |  | 4.8% |  | 38.62
2032 |  | 1,118 |  | 2.4% |  | 3.7% |  | 40.71
2033 |  | 1,030 |  | 2.2% |  | 3.5% |  | 41.40
2034 |  | 831 |  | 1.7% |  | 2.9% |  | 42.91
2035 |  | 992 |  | 2.1% |  | 3.4% |  | 42.16
10 Year Total |  | 17,058 |  | 35.9% |  | 55.1% |  | $39.79
Thereafter |  | 740 |  | 1.6% |  | 2.9% |  | 48.79
|  | 17,798 |  | 37.5% |  | 58.1% |  | $40.16

|  |  |  | All Tenants |  |  |  |
Year |  | GLA |  | Percent of GLA |  | Percent of Total ABR(1) |  | ABR
MTM(2) |  | 223 |  | 0.5% |  | 0.5% |  | $28.42
2026 |  | 2,990 |  | 6.3% |  | 6.9% |  | 28.45
2027 |  | 6,239 |  | 13.1% |  | 12.9% |  | 25.52
2028 |  | 5,989 |  | 12.6% |  | 13.3% |  | 27.38
2029 |  | 6,743 |  | 14.2% |  | 13.1% |  | 24.00
2030 |  | 5,956 |  | 12.5% |  | 13.0% |  | 26.91
2031 |  | 4,338 |  | 9.1% |  | 8.7% |  | 24.58
2032 |  | 2,178 |  | 4.6% |  | 5.3% |  | 29.87
2033 |  | 2,193 |  | 4.6% |  | 5.4% |  | 30.11
2034 |  | 1,870 |  | 3.9% |  | 4.5% |  | 29.48
2035 |  | 2,444 |  | 5.1% |  | 5.5% |  | 27.52
10 Year Total |  | 41,162 |  | 86.6% |  | 89.1% |  | $26.65
Thereafter |  | 6,350 |  | 13.4% |  | 10.9% |  | 21.15
|  | 47,512 |  | 100% |  | 100% |  | $25.91

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

As of December 31, 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) |  | $263,431
Share of Unconsolidated JV NOI (page 7) |  | $25,669
Less: Noncontrolling Interests (page 7) |  | $(1,998)
NOI |  | $287,102
Quarterly Base Rent From Leases Signed But Not Yet Rent-Paying |  |
Retail Operating Properties Excluding In-Process Redevelopments (Quarterly) |  | $8,831
Retail Operating Properties Including In-Process Redevelopments (Quarterly) |  | $11,144

Real Estate: In-Process Ground-Up Developments and Redevelopments |  |
In-Process Ground-Up Development
REG's Estimated Net Project Costs (page 17) |  | $372,000
Stabilized Yield (page 17) |  | 7%
Annualized Proforma Stabilized NOI |  | $26,040
% of Costs Incurred (page 17) |  | 41%
Construction in Progress |  | $152,520
NOI from In-Process Ground-Up Development - Current Quarter
In-place NOI from Current Year Ground-Up Development Completions |  | $806
In-place NOI from In-Process Ground-Up Developments |  | $251
In-Process Redevelopment Projects
REG's Estimated Net Project Costs (page 17) |  | $225,000
Stabilized Yield (page 17) |  | 10%
Annualized Proforma Stabilized NOI |  | $22,500
|  | 47%
Construction in Progress |  | $105,750
NOI from In-Process Redevelopment - Current Quarter
In-place NOI from Current Year Redevelopment Completions |  | $2,348
In-place NOI from In-Process Redevelopments |  | $(6)

Fee Income |  |
Third-Party Management Fees and Commissions - Current Quarter (page 6) |  | $7,582
Less: Share of JV's Total fee income - Current Quarter (page 7) |  | $(266)

Other Assets |  |
Estimated Market Value of Land |  |
Land held for sale or future development |  | $13,117
Outparcels at retail operating properties |  | $5,741
Total Estimated Market Value of Land |  | $18,858
Regency's Pro-Rata Share (page 3 & 4) |  |
Cash and Cash Equivalents |  | $81,428
Tenant and other receivables, excluding Straight line rent receivables |  | $95,559
Other Assets, excluding Goodwill |  | $137,471

Liabilities |  |
Regency's Pro-Rata Share (page 3 & 4) |  |
Notes payable |  | $5,255,010
Accounts payable and other liabilities |  | $414,810
Tenants' security, escrow deposits |  | $93,851
Preferred Stock |  | $225,000

Common Shares and Equivalents Outstanding |  |
Common Shares and Equivalents Issued and Outstanding (page 1) |  | 186,740

Supplemental Information 26

2026 E arnings Guidance

Full Year 2026 Guidance (in thousands, except per share data) | 2025 Actual | 2026 Guidance
Net Income Attributable to Common Shareholders per diluted share | $2.82 | $2.35 - $2.39
Nareit Funds From Operations (“Nareit FFO”) per diluted share | $4.64 | $4.83 - $4.87
Core Operating Earnings per diluted share(1) | $4.41 | $4.59 - $4.63
Same property NOI growth without termination fees | 5.3% | +3.25% to +3.75%
Non-cash revenues(2) | $49,163 | +/-$51,000
G&A expense, net(3) | $96,408 | $96,000-$100,000
Interest expense, net and Preferred stock dividends(4) | $234,146 | $250,000-$252,000
Management, transaction and other fees | $27,298 | +/-$27,000
Development and Redevelopment spend | $316,300 | +/-$325,000
Acquisitions (as incurred) | $538,486 | $0
Cap rate (weighted average) | 6.0% | 0.0%
Dispositions (as incurred) | $109,954 | $0
Cap rate (weighted average)(5) | 5.6% | 0.0%
Share/unit issuances(6) | $299,662 | $0

Reconciliation of Net Income to Earnings Guidance (per diluted share) |  | Full Year 2026
|  | Low |  | High
Net income attributable to common shareholders |  | $2.35 |  | 2.39
Adjustments to reconcile net income to Nareit FFO: |  |  |  |
Depreciation and amortization (excluding FF&E) |  | 2.43 |  | 2.43
Exchangeable operating partnership units |  | 0.05 |  | 0.05
Nareit Funds From Operations |  | $4.83 |  | 4.87
Adjustments to reconcile Nareit FFO to Core Operating Earnings: |  |  |  |
Straight line rent, net |  | (0.16) |  | (0.16)
Above/below market rent amortization, net |  | (0.12) |  | (0.12)
Debt and derivative mark-to-market amortization |  | 0.04 |  | 0.04
Core Operating Earnings |  | $4.59 |  | $4.63

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)
2025 Disposition cap rate excludes the $11M sale of 101 7th Avenue on 7/1/2025, which was vacant at the time of closing.
(6)
2025 Share/unit issuances reflect (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

December 31, 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