Exhibit 99.2

QUARTERLY FINANCIAL SUPPLEMENTAL – SEPTEMBER 30, 2020

PAGE NO.						TABLE OF CONTENTS
3						Earnings Press Release
6						Corporate Profile
7						Contact Information
8						Important Notes Including Non-GAAP Disclosures
10						Consolidated Balance Sheets
11						Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2020
12						Same Property Net Operating Income
13						Net Operating Income and EBITDA by Quarter
14						Funds from Operations for the Three and Nine Months Ended September 30, 2020
15						Adjusted Funds From Operations and Other Financial Information for the Three and Nine Months Ended September 30, 2020
16						Summary Income Statement
17						Accounts Receivable Impact of COVID-19
18						Joint Venture Summary as of September 30, 2020
19						Summary of Outstanding Debt as of September 30, 2020
20						Maturity Schedule of Outstanding Debt as of September 30, 2020
21						Key Debt Metrics
22						Top 25 Tenants by Annualized Base Rent
23						Retail Leasing Spreads
24						Lease Expirations
25						Development and Redevelopment Projects
26						Geographic Diversification – Annualized Base Rent by Region and State
27						Operating Retail Portfolio Summary Report
31						Operating Office Properties and Other
32						Components of Net Asset Value

PRESS RELEASE

Contact Information: Kite Realty Group Trust

Jason Colton

SVP, Capital Markets & Investor Relations

317.713.2762

jcolton@kiterealty.com

Kite Realty Group Trust Reports Third Quarter 2020 Operating Results

Indianapolis, Indiana, October 28, 2020 - Kite Realty Group Trust (NYSE: KRG) reported today its operating results for the third quarter ended September 30, 2020.

“The KRG team continues to diligently address dislocation caused by the pandemic,” said John A. Kite, Chairman and CEO. “Our strong third quarter rent collections of 92% highlight KRG’s high-quality portfolio and the importance of open-air real estate locations to retailers and their customers. We are now shifting our focus to the path forward by replacing dislocated tenants and prudently allocating capital to add value to our current portfolio. Thank you to our team and tenants for their tireless efforts to provide top quality open-air retail services to our communities.”

Third Quarter Financial Results

•Realized net loss attributable to common shareholders of $4.6 million, or $0.05 per common share, compared to net loss of $19.7 million, or $0.24 per common share, for the three months ending September 30, 2019.

•Generated NAREIT Funds From Operations of the Operating Partnership (FFO) of $26.3 million, or $0.30 per diluted common share.

•Same-Property Net Operating Income (NOI), which was negatively impacted by COVID-19, decreased by 6.9%.

•As detailed on page 17 of our supplemental, KRG’s bad debt reserve this quarter was approximately $3.6 million, primarily comprised of:

◦$3.1 million for rental income due during the third quarter, which represents approximately 5% of all third quarter billings; and

◦$0.5 million in straight line rent.

Third Quarter Portfolio Operations

•Executed 78 new and renewal leases representing over 457,000 square feet.

◦GAAP leasing spreads of 15.3% (2.3% cash basis) on 16 comparable new leases, 14.5% (7.6% cash basis) on 45 comparable renewals, and 14.7% (6.3% cash basis) on a blended basis.

•Annualized base rent (ABR) for the operating retail portfolio was $18.00, a 2% increase year-over-year.

•Retail leased percentage was 93.3%, a decrease of 210 basis points year-over-year.

Third Quarter Transaction Activity

•Sold Courthouse Shadows, a non-operating asset, for proceeds of approximately $14 million.

p. 3 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

Third Quarter Capital Markets Activity

•Repaid $150 million of the outstanding balance on KRG’s credit facility.

Third Quarter Development Activity

•Partnered with The University of Notre Dame to develop Phase III of the Eddy Street Commons mixed-use project.

◦Phase III will contain a 13,000 square foot Trader Joe’s, 6,000 square feet of shop space and 28 for-sale townhomes.

◦KRG will own 100% of the project with a capital requirement of $7.5 million and projected cash yield of 8.5% - 9.5%.

Balance Sheet Overview

•As of September 30, 2020, KRG’s net-debt-to-EBITDA was 6.9x.

•Zero debt maturities until 2022.

•Total remaining spend on development, redevelopment and Big Box Surge is $14.8M (including the Eddy Street Phase III project) which is approximately 2% of total current liquidity.

COVID-19 Update (as of October 26, 2020)

•Approximately 97% of tenants (based on ABR) were open for business and operating.

•Approximately 92% of total third quarter base rent and recoveries have been collected.

•Approximately 2% of total third quarter base rent and recoveries have been affirmatively deferred.

•Approximately 91% of total October base rent and recoveries have been collected.

•Please see KRG’s third quarter investor presentation for further details.

Virtual Market Tour Series

•In order to showcase the Company’s high-quality, open-air retail real estate, KRG introduced a Virtual Market Tour Series in early September.

◦To view the Company’s Virtual Market Tours for Las Vegas, Indianapolis, Naples and Texas, please visit our Market Highlights page at KRG Virtual Property Tours.

State of Retail

•KRG is hosting a “State of Retail” conference call on November 9th with Dana Telsey, CEO of Telsey Advisory Group, for KRG’s institutional investors in order to provide them with additional insights into today’s retail environment.

2020 Earnings Guidance

Given the ongoing uncertainty surrounding the impact of COVID-19 on the economy and our tenants, the Company withdrew previously provided 2020 guidance on March 27, 2020. The Company’s guidance remains withdrawn.

Earnings Conference Call

Kite Realty Group Trust will conduct a conference call to discuss its financial results on Thursday, October 29, 2020, at 12:00 p.m. Eastern Time. A live webcast of the conference call will be available on KRG’s corporate website at www.kiterealty.com. The dial-in numbers are (844) 309-0605 for domestic callers and (574) 990-9933 for international callers (Conference ID: 8257159). In addition, a webcast replay link will be available on the corporate website.

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders. For more information, please visit our website at kiterealty.com.

p. 4 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

Connect with KRG: LinkedIn | Twitter | Instagram | Facebook

Safe Harbor

This release, together with other statements and information publicly disseminated by us, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, performance, transactions or achievements, financial or otherwise, may differ materially from the results, performance, transactions or achievements, financial or otherwise, expressed or implied by the forward-looking statements.

Currently, one of the most significant factors that could cause actual outcomes to differ materially from the forward-looking statements is the potential adverse effect of the current pandemic of the novel coronavirus, or COVID-19, including possible resurgences, on the financial condition, result of operations, cash flows and performance of the Company and its tenants, the real estate market and the global economy and financial markets. The effects of COVID-19 have caused many of the Company’s tenants to close stores, reduce hours or significantly limit service, making it difficult for them to meet their obligations, and therefore will significantly impact the Company for the foreseeable future. The extent to which the COVID-19 pandemic impacts the Company and its tenants will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, and possible short-term and long-term effects of the pandemic on consumer behavior, among others. Moreover, investors are cautioned to interpret many of the risks identified under the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 as being heightened as a result of the ongoing and numerous adverse impacts of the COVID-19 pandemic.

Additional risks, uncertainties and other factors that might cause such differences, some of which could be material, include but are not limited to: national and local economic, business, real estate and other market conditions, particularly in connection with low or negative growth in the U.S. economy as well as economic uncertainty; financing risks, including the availability of, and costs associated with, sources of liquidity; the Company’s ability to refinance, or extend the maturity dates of, the Company’s indebtedness; the level and volatility of interest rates; the financial stability of tenants, including their ability to pay rent and the risk of tenant insolvency and bankruptcy; the competitive environment in which the Company operates; acquisition, disposition, development and joint venture risks; property ownership and management risks; the Company’s ability to maintain the Company’s status as a real estate investment trust for U.S. federal income tax purposes; potential environmental and other liabilities; impairment in the value of real estate property the Company owns; the actual and perceived impact of e-commerce on the value of shopping center assets; risks related to the geographical concentration of the Company’s properties in Florida, Indiana, Texas, Nevada and North Carolina; civil unrest, acts of terrorism or war, acts of God, climate change, epidemics, pandemics (including COVID-19), natural disasters and severe weather conditions such as hurricanes, tropical storms, tornadoes, earthquakes, droughts, floods and fires that may result in underinsured or uninsured losses; changes in laws and government regulations; governmental orders affecting the use of the Company’s properties or the ability of its tenants to operate; possible short-term or long-term changes in consumer behavior due to COVID-19 and the fear of future pandemics; insurance costs and coverage; risks associated with cybersecurity attacks and the loss of confidential information and other business disruptions; other factors affecting the real estate industry generally; and other risks identified in reports the Company files with the Securities and Exchange Commission (“the SEC”) or in other documents that it publicly disseminates, including, in particular, the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and in the Company’s quarterly reports on Form 10-Q. The Company undertakes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

p. 5 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

CORPORATE PROFILE

General Description

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) engaged primarily in the ownership and operation, acquisition, development and redevelopment of high-quality neighborhood and community shopping centers in certain select markets in the United States. As of September 30, 2020, we owned interests in 89 operating and redevelopment properties totaling approximately 17.4 million square feet and three development projects currently under construction.

Our strategy is to maximize the cash flow of our operating properties, successfully complete the construction and lease-up of our redevelopment and development portfolio, and continue to gain scale in our target markets. New investments are focused in the shopping center sector primarily in markets that are benefiting from existing and accelerating migration patterns and where we believe we can leverage our existing infrastructure and relationships to generate attractive risk-adjusted returns. Dispositions are generally designed to increase the quality of our portfolio and exit non-target markets. The proceeds of dispositions will generally be used to acquire assets in our target markets or strengthen the Company’s balance sheet.  

Company Highlights as of September 30, 2020

						# of Properties			Total GLA /NRA			Owned  GLA /NRA1
Operating Retail Properties						82			16,098,026			11,494,522
Operating Office Properties and Other						4			498,242			498,242
Redevelopment Properties2						3			775,419			510,716
Total Operating and Redevelopment Properties						89			17,371,687			12,503,480
Development Projects2						3			805,500			51,100
Total All Properties						92			18,177,187			12,554,580
						Retail			Non-Retail			Total
Operating Properties –  Leased Percentage						93.3%			96.9%			93.4%
States												16

Stock Listing: New York Stock Exchange symbol: KRG

____________________
1			Excludes square footage of structures located on land owned by the company and ground leased to tenants and adjacent non-owned anchors.
2			Includes square footage of planned space upon completion.

p. 6 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

CONTACT INFORMATION    

Corporate Office

30 South Meridian Street, Suite 1100

Indianapolis, IN 46204

(888) 577-5600

(317) 577-5600

www.kiterealty.com

Investor Relations Contact:

Analyst Coverage:

Analyst Coverage:

Jason Colton

Robert W. Baird & Co.

Compass Point Research & Trading, LLC

Senior Vice President, Capital Markets and IR

Mr. Peter Hermann III

Mr. Floris van Dijkum

Kite Realty Group Trust

(414) 765-3589

(646) 757-2621

30 South Meridian Street, Suite 1100

phermann@rwbaird.com

fvandijkum@compasspointllc.com

Indianapolis, IN 46204

(317) 713-2762

Bank of America/Merrill Lynch

DA Davidson

jcolton@kiterealty.com

Mr. Jeffrey Spector/Mr. Craig Schmidt

Mr. Barry Oxford

(646) 855-1363/(646) 855-3640

(212) 240-9871

Transfer Agent:

jeff.spector@bofa.com

boxford@dadco.com

craig.schmidt@bofa.com

Broadridge Financial Solutions

KeyBanc Capital Markets

Ms. Kristen Tartaglione

BTIG

Mr. Jordan Sadler/Mr. Todd Thomas

2 Journal Square, 7th Floor

Mr. Michael Gorman

(917) 368-2280/(917) 368-2286

Jersey City, NJ  07306

(212) 738-6138

tthomas@keybanccm.com

(201) 714-8094

mgorman@btig.com

jsadler@keybanccm.com

Stock Specialist:

Capital One Securities, Inc.

Raymond James

Mr. Christopher Lucas

Mr. RJ Milligan

GTS

(571) 633-8151

(727) 567-2585

545 Madison Avenue

christopher.lucas@capitalone.com

rjmilligann@raymondjames.com

15th Floor

New York, NY 10022

Citigroup Global Markets

Piper Sandler

(212) 715-2830

Mr. Michael Bilerman/Ms. Katy McConnell

Mr. Alexander Goldfarb

(212) 816-1383/(212) 816-6981

(212) 466-7937

michael.bilerman@citigroup.com

alexander.goldfarb@psc.com

katy.mcconnell@citigroup.com

Wells Fargo Securities, LLC

Ms. Tamara Fique

(617) 603-4262/(443) 263-6568

tamara.fique@wellsfargo.com

p. 7 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

IMPORTANT NOTES INCLUDING NON-GAAP DISCLOSURES    

Interim Information

This Quarterly Financial Supplemental contains historical information of Kite Realty Group Trust (“the Company” or “KRG”) and is intended to supplement the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, to be filed on or about November 6, 2020, which should be read in conjunction with this supplement. The supplemental information is unaudited, although it reflects all adjustments that, in the opinion of management, are necessary for a fair presentation of operating results for the interim periods.

Forward-Looking Statements

This supplemental information package, together with other statements and information publicly disseminated by us, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, performance, transactions or achievements, financial or otherwise, may differ materially from the results, performance, transactions or achievements, financial or otherwise, expressed or implied by the forward-looking statements.

Currently, one of the most significant factors that could cause actual outcomes to differ materially from the forward-looking statements is the potential adverse effect of the current pandemic of the novel coronavirus, or COVID-19, including possible resurgences, on the financial condition, results of operations, cash flows and performance of the Company and its tenants, the real estate market and the global economy and financial markets. The effects of COVID-19 have caused many of the Company’s tenants to close stores, reduce hours or significantly limit service, making it difficult for them to meet their rental obligations, and therefore will significantly impact the Company for the foreseeable future. The extent to which the COVID-19 pandemic impacts the Company and its tenants will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, and possible short-term and long-term effects of the pandemic on consumer behavior, among others. Moreover, investors are cautioned to interpret many of the risks identified under the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 as being heightened as a result of the ongoing and numerous adverse impacts of the COVID-19 pandemic.

In addition, risks, uncertainties and factors that might cause such differences from the results, performance, transactions or achievements, financial or otherwise, expressed or implied by the forward-looking statements, some of which could be material, include but are not limited to:

•national and local economic, business, real estate and other market conditions, particularly in connection with low or negative growth in the U.S. economy as well as economic uncertainty;

•financing risks, including the availability of, and costs associated with, sources of liquidity;

•our ability to refinance, or extend the maturity dates of, our indebtedness;

•the level and volatility of interest rates;

•the financial stability of tenants, including their ability to pay rent and the risk of tenant insolvency and bankruptcy;

•the competitive environment in which the Company operates;

•acquisition, disposition, development and joint venture risks;

•property ownership and management risks;

•our ability to maintain our status as a real estate investment trust for federal income tax purposes;

•potential environmental and other liabilities;

•impairment in the value of real estate property the Company owns;

•the actual and perceived impact of e-commerce on the value of shopping center assets;

•risks related to the geographical concentration of our properties in Florida, Indiana, Texas, Nevada and North Carolina;

•civil unrest, acts of terrorism or water, acts of God, climate change, epidemics, pandemics (including COVID-19), natural disasters and severe weather conditions such as hurricanes, tropical storms, tornadoes, earthquakes, droughts, floods and fires that may result in underinsured or uninsured losses;

•changes in laws and government regulations;

•governmental orders affecting the use of our properties or the ability of our tenants to operate;

•possible short-term or long-term changes in consumer behavior due to COVID-19 and the fear of future pandemics;

•insurance costs and coverage;

•risks associated with cybersecurity attacks and the loss of confidential information and other business disruptions;

•other factors affecting the real estate industry generally; and

•other risks identified in reports the Company files with the Securities and Exchange Commission (“the SEC”) or in other documents that it publicly disseminates, including, in particular, the section titled “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and in our quarterly reports on Form 10-Q.

The Company undertakes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Non-GAAP Disclosures

Funds from Operations

Funds from Operations (FFO) is a widely used performance measure for real estate companies and is provided here as a supplemental measure of operating performance. The Company calculates FFO, a non-GAAP financial measure, in accordance with the best practices described in the April 2002 National Policy Bulletin of the National Association of Real Estate Investment Trusts ("NAREIT"), as restated in 2018. The NAREIT white paper defines FFO as net income (calculated in accordance with GAAP), excluding depreciation and amortization related to real estate, gains and losses from the sale of certain real estate assets, gains and losses from change in control, and impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity.

Considering the nature of our business as a real estate owner and operator, the Company believes that FFO is helpful to investors in measuring our operational performance because it excludes various items included in net income that do not relate to or are not indicative of our operating performance, such as gains or losses from sales of depreciated property and depreciation and amortization, which can make periodic and peer analyses of operating performance more difficult. FFO (a) should not be considered as an alternative to net income (calculated in accordance with GAAP) for the purpose of measuring our financial

p. 8 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

IMPORTANT NOTES INCLUDING NON-GAAP DISCLOSURES (CONTINUED)

performance, (b) is not an alternative to cash flow from operating activities (calculated in accordance with GAAP) as a measure of our liquidity, and (c) is not indicative of funds available to satisfy our cash needs, including our ability to make distributions. Our computation of FFO may not be comparable to FFO reported by other REITs that do not define the term in accordance with the current NAREIT definition or that interpret the current NAREIT definition differently than we do. For informational purposes, we have also provided FFO adjusted for loss on debt extinguishment. A reconciliation of net income (calculated in accordance with GAAP) to FFO is included elsewhere in this Financial Supplement.

From time to time, the Company may report or provide guidance with respect to “NAREIT FFO as adjusted” which removes the impact of certain non-recurring and non-operating transactions or other items the Company does not consider to be representative of its core operating results including without limitation, gains or losses associated with the early extinguishment of debt, gains or losses associated with litigation involving the Company that is not in the normal course of business, the impact on earnings from executive separation, and the excess of redemption value over carrying value of preferred stock redemption, which are not otherwise adjusted in the Company’s calculation of FFO.

Adjusted Funds from Operations

Adjusted Funds from Operations (“AFFO”) is a non-GAAP financial measure of operating performance used by many companies in the REIT industry. AFFO modifies FFO, as adjusted for certain cash and non-cash transactions not included in FFO. AFFO should not be considered an alternative to net income as an indication of the company's performance or as an alternative to cash flow as a measure of liquidity or ability to make distributions. Management considers AFFO a useful supplemental measure of the company’s performance. The Company’s computation of AFFO may differ from the methodology for calculating AFFO used by other REITs, and therefore, may not be comparable to such other REITs. A reconciliation of net income (calculcated in accordance with GAAP) to AFFO is included elsewhere in this Financial Supplement.

Net Operating Income and Same Property Net Operating Income

The Company uses property net operating income (“NOI”), a non-GAAP financial measure, to evaluate the performance of our properties. The Company defines NOI as income from our real estate, including lease termination fees received from tenants, less our property operating expenses. NOI excludes amortization of capitalized tenant improvement costs and leasing commissions and certain corporate level expenses. The Company believes that NOI is helpful to investors as a measure of our operating performance because it excludes various items included in net income that do not relate to or are not indicative of our operating performance, such as depreciation and amortization, interest expense, and impairment, if any.

The Company also uses same property NOI ("Same Property NOI"), a non-GAAP financial measure, to evaluate the performance of our properties. Same Property NOI excludes properties that have not been owned for the full period presented. It also excludes net gains from outlot sales, straight-line rent revenue, lease termination income in excess of lost rent, amortization of lease intangibles and significant prior period expense recoveries and adjustments, if any. When the Company receives payments in excess of any accounts receivable in exchange for terminating a lease, Same Property NOI will include such excess payments as monthly rent until the earlier of the following: the expiration of 12 months or the start date of a replacement tenant. The Company believes that Same Property NOI is helpful to investors as a measure of our operating performance because it includes only the NOI of properties that have been owned and fully operational for the full quarters presented. The Company believes such presentation eliminates disparities in net income due to the acquisition or disposition of properties during the particular periods presented and thus provides a more consistent comparison of our properties. Same Property NOI includes the results of properties that have been owned for the entire current and prior year reporting periods.

NOI and Same Property NOI should not, however, be considered as alternatives to net income (calculated in accordance with GAAP) as indicators of our financial performance. Our computation of NOI and Same Property NOI may differ from the methodology used by other REITs, and therefore may not be comparable to such other REITs.

When evaluating the properties that are included in the same property pool, the Company has established specific criteria for determining the inclusion of properties acquired or those recently under development. An acquired property is included in the same property pool when there is a full quarter of operations in both years subsequent to the acquisition date. Development and redevelopment properties are included in the same property pool four full quarters after the properties have been transferred to the operating portfolio. A redevelopment property is first excluded from the same property pool when the execution of a redevelopment plan is likely and the Company a) begins recapturing space from tenants or b) the contemplated plan significantly impacts the operations of the property. For the quarter ended September 30, 2020, the Company excluded three redevelopment properties from the same property pool that met these criteria and were owned in both comparable periods. In addition, the Company excluded one recently acquired property from the same property pool.

Earnings Before Interest Expense, Income Tax Expense, Depreciation and Amortization (EBITDA)

The Company defines EBITDA, a non-GAAP financial measure, as net income before depreciation and amortization, interest expense and income tax expense of taxable REIT subsidiary. For informational purposes, the Company has also provided Adjusted EBITDA, which the Company defines as EBITDA less (i) EBITDA from unconsolidated entities, (ii) gains on sales of operating properties or impairment charges, (iii) other income and expense, (iv) noncontrolling interest EBITDA and (v) other non-recurring activity or items impacting comparability from period to period. Annualized Adjusted EBITDA is Adjusted EBITDA for the most recent quarter multiplied by four. Net Debt to Adjusted EBITDA is the Company's share of net debt divided by Annualized Adjusted EBITDA. EBITDA, Adjusted EBITDA, Annualized Adjusted EBITDA and Net Debt to Adjusted EBITDA, as calculated by us, are not comparable to EBITDA and EBITDA-related measures reported by other REITs that do not define EBITDA and EBITDA-related measures exactly as we do. EBITDA, Adjusted EBITDA and Annualized Adjusted EBITDA do not represent cash generated from operating activities in accordance with GAAP, and should not be considered alternatives to net income as an indicator of performance or as alternatives to cash flows from operating activities as an indicator of liquidity.

Considering the nature of our business as a real estate owner and operator, the Company believes that EBITDA, Adjusted EBITDA and the ratio of Net Debt to Adjusted EBITDA are helpful to investors in measuring our operational performance because they exclude various items included in net income that do not relate to or are not indicative of our operating performance, such as gains or losses from sales of depreciated property and depreciation and amortization, which can make periodic and peer analyses of operating performance more difficult. For informational purposes, the Company has also provided Annualized Adjusted EBITDA, adjusted as described above. The Company believes this supplemental information provides a meaningful measure of our operating performance. The Company believes presenting EBITDA and the related measures in this manner allows investors and other interested parties to form a more meaningful assessment of our operating results.

p. 9 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

($ in thousands)
						September 30, 2020						December 31, 2019
Assets:
Investment properties, at cost						$	3,083,153					$	3,087,391
Less: accumulated depreciation						(735,761)						(666,952)
						2,347,392						2,420,439
Cash and cash equivalents						129,282						31,336
Tenant and other receivables, including accrued straight-line rent of $24,511 and $27,256, respectively						57,149						55,286
Restricted cash and escrow deposits						8,035						21,477
Deferred costs and intangibles, net						63,883						73,157
Prepaid and other assets						39,304						34,548
Investments in unconsolidated subsidiaries						13,071						12,644
Total Assets						$	2,658,116					$	2,648,887
Liabilities and Shareholders’ Equity:
Mortgage and other indebtedness, net						$	1,196,117					$	1,146,580
Accounts payable and accrued expenses						88,550						69,817
Deferred revenue and other liabilities						86,244						90,180
Total Liabilities						1,370,911						1,306,577
Commitments and contingencies
Limited Partners’ interests in the Operating Partnership and other redeemable noncontrolling interests						44,440						52,574
Shareholders’ Equity:
Kite Realty Group Trust Shareholders’ Equity:
Common Shares, $.01 par value, 225,000,000 shares authorized, 84,195,963 and 83,963,369 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively						842						840
Additional paid in capital						2,084,978						2,074,436
Accumulated other comprehensive loss						(32,977)						(16,283)
Accumulated deficit						(810,776)						(769,955)
Total Kite Realty Group Trust Shareholders’ Equity						1,242,067						1,289,038
Noncontrolling Interests						698						698
Total Equity						1,242,765						1,289,736
Total Liabilities and Equity						$	2,658,116					$	2,648,887

p. 10 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

($ in thousands, except per share data)
						Three Months Ended September 30,												Nine Months Ended September 30,
						2020						2019						2020						2019
Revenue:
Rental income						$	64,293					$	72,573					$	191,359					$	234,726
Other property related revenue						670						2,260						6,626						4,910
Fee income						104						110						299						304
Total revenue						65,067						74,943						198,284						239,940
Expenses:
Property operating						10,330						11,041						30,450						33,939
Real estate taxes						9,362						9,640						26,551						29,775
General, administrative, and other						6,482						6,709						19,986						20,523
Depreciation and amortization						33,953						31,985						96,830						101,333
Impairment charges						—						8,538						—						37,723
Total expenses						60,127						67,913						173,817						223,293
Gain (loss) on sale of operating properties, net						3,226						(5,714)						4,893						24,965
Operating income						8,166						1,316						29,360						41,612
Interest expense						(12,550)						(14,302)						(38,115)						(46,884)
Income tax benefit of taxable REIT subsidiary						190						41						496						189
Loss on debt extinguishment						—						(7,045)						—						(9,622)
Equity in loss of unconsolidated subsidiaries						(417)						(11)						(1,256)						(677)
Other (expense) income, net						(16)						(116)						234						(444)
Net loss						(4,627)						(20,117)						(9,281)						(15,826)
Net loss (income) attributable to noncontrolling interests						40						382						(148)						10
Net loss attributable to Kite Realty Group Trust common shareholders						$	(4,587)					$	(19,735)					$	(9,429)					$	(15,816)
Net loss per common share - basic and diluted						$	(0.05)					$	(0.24)					$	(0.11)					$	(0.19)
Weighted average common shares outstanding - basic & diluted						84,194,821						83,960,841						84,125,405						83,914,923
Cash dividends per common share						$	0.0520					$	0.3175					$	0.3695					$	0.9525

p. 11 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

SAME PROPERTY NET OPERATING INCOME (NOI)

($ in thousands)
			Three Months Ended September 30,																		Nine Months Ended September 30,
			2020						2019						% Change						2020						2019						% Change
Number of properties for the quarter1			82						82
Leased percentage at period end			93.3		%				96.5		%										93.3		%				96.5		%
Economic Occupancy percentage2			92.0		%				93.0		%										92.7		%				92.5		%
Minimum rent			$	49,992					$	50,502											$	150,242					$	149,952
Tenant recoveries			14,778						15,043												44,991						44,730
Bad debt			(3,077)						(604)												(9,232)						(1,598)
Other income			137						354												427						934
			61,830						65,295												186,428						194,018
Property operating expenses			(8,589)						(8,740)												(25,155)						(25,530)
Real estate taxes			(8,615)						(8,600)												(25,913)						(25,598)
			(17,204)						(17,340)												(51,068)						(51,128)
Same Property NOI			$	44,626					$	47,955					(6.9)%						$	135,360					$	142,890					(5.3)%
Reconciliation of Same Property NOI to Most Directly Comparable GAAP Measure:
Net operating income - same properties			$	44,626					$	47,955											$	135,360					$	142,890
Net operating income - non-same activity3			749						6,307												5,924						33,335
Other expense, net			(243)						(86)												(527)						(931)
General, administrative and other			(6,482)						(6,709)												(19,986)						(20,523)
Impairment charges			—						(8,538)												—						(37,723)
Depreciation and amortization expense			(33,953)						(31,985)												(96,830)						(101,333)
Interest expense			(12,550)						(14,302)												(38,115)						(46,884)
Loss on debt extinguishment			—						(7,045)												—						(9,622)
Gain (loss) on sales of operating properties			3,226						(5,714)												4,893						24,965
Net loss (income) attributable to noncontrolling interests			40						382												(148)						10
Net loss attributable to common shareholders			$	(4,587)					$	(19,735)											$	(9,429)					$	(15,816)

____________________
1			Same Property NOI excludes (i) The Corner, Glendale Town Center, and Hamilton Crossing redevelopments, (ii) Eddy Street Commons - Phases II and III developments, (iii) the recently acquired Nora Plaza, and (iv) office properties.
2			Excludes leases that are signed but for which tenants have not yet commenced the payment of cash rent. Calculated as a weighted average based on the timing of cash rent commencement and expiration during the period.
3			Includes non-cash activity across the portfolio as well as net operating income from properties not included in the same property pool including properties sold during both periods.

p. 12 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

NET OPERATING INCOME AND EBITDA BY QUARTER

($ in thousands)
						Three Months Ended
						September 30, 2020						June 30, 2020						March 31, 2020						December 31, 2019						September 30, 2019
Revenue:
Minimum rent1						$	48,669					$	49,265					$	49,539					$	53,096					$	52,801
Minimum rent - ground leases						4,152						4,242						4,204						4,232						4,103
Tenant reimbursements						15,134						14,656						15,419						16,161						16,504
Bad debt						(3,643)						(6,627)						(3,723)						(654)						(892)
Other property related revenue						201						1,411						3,205						254						1,100
Overage rent						—						3						89						870						57
Parking revenue, net2						(32)						(102)						467						514						583
						64,481						62,848						69,200						74,473						74,256
Expenses:
Property operating  - Recoverable3						8,700						8,316						9,087						9,721						9,207
Property operating - Non-Recoverable3						1,342						725						1,319						1,468						1,467
Real estate taxes						9,168						8,165						8,721						8,793						9,430
						19,210						17,206						19,127						19,982						20,104
Net Operating Income - Properties						45,271						45,642						50,073						54,491						54,152
Other (Expenses) Income:
General, administrative, and other						(6,482)						(6,578)						(6,926)						(7,691)						(6,709)
Fee income						104						91						104						144						110
						(6,378)						(6,487)						(6,822)						(7,547)						(6,599)
Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization						38,893						39,155						43,251						46,944						47,553
Impairment charge						—						—						—						—						(8,538)
Depreciation and amortization						(33,953)						(31,409)						(31,468)						(30,765)						(31,985)
Interest expense						(12,550)						(13,271)						(12,293)						(12,383)						(14,302)
Equity in (loss) earnings of unconsolidated subsidiaries						(417)						(436)						(403)						49						(11)
Income tax benefit of taxable REIT subsidiary						190						202						104						94						41
Loss on debt extinguishment						—						—						—						(1,950)						(7,045)
Other (expense) income, net						(16)						350						(104)						(139)						(116)
Gain (loss) on sales of operating properties						3,226						623						1,043						14,005						(5,714)
Net (loss) income						(4,627)						(4,786)						130						15,855						(20,117)
Less: Net loss (income) attributable to noncontrolling interests						40						17						(204)						(541)						382
Net (loss) income attributable to Kite Realty Group Trust						$	(4,587)					$	(4,769)					$	(74)					$	15,314					$	(19,735)
NOI/Revenue						70.2		%				72.6		%				72.4		%				73.2		%				72.9		%
Recovery Ratios4
- Retail Properties						87.8		%				92.3		%				89.6		%				90.7		%				91.6		%
- Consolidated						84.7		%				88.9		%				86.6		%				87.3		%				88.6		%

____________________
1			Minimum rent includes $0.3 million, $0.6 million, $0.2 million, $2.1 million, and $0.4 million of lease termination income for the three months ended September 30, 2020, June 30, 2020, March 31, 2020, December 31, 2019, and September 30, 2019, respectively.
2			Parking revenue, net represents the net operating results of the Eddy Street Parking Garage, the Union Station Parking Garage, and the Pan Am Plaza Parking Garage.
3			Recoverable expenses include recurring G&A expense of $1.6 million allocable to the property operations in the three months ended September 30, 2020, a portion of which is recoverable. Non-recoverable expenses primarily include ground rent, professional fees, and marketing costs.
4			“Recovery Ratio” is computed by dividing tenant reimbursements by the sum of recoverable property operating expense and real estate tax expense.

p. 13 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

FUNDS FROM OPERATIONS1, 2

($ in thousands, except per share data)
						Three Months Ended September 30,												Nine Months Ended September 30,
						2020						2019						2020						2019
Funds From Operations ("FFO")
Consolidated net loss						$	(4,627)					$	(20,117)					$	(9,281)					$	(15,826)
Less: net income attributable to noncontrolling interests in properties						(132)						(132)						(396)						(396)
Less: (Gain) loss on sales of operating properties						(3,226)						5,714						(4,893)						(24,965)
Add: impairment charges						—						8,538						—						37,723
Add: depreciation and amortization of consolidated and unconsolidated entities, net of noncontrolling interests						34,295						32,266						97,827						102,119
FFO of the Operating Partnership1						26,310						26,269						83,257						98,655
Less: Limited Partners' interests in FFO						(657)						(627)						(2,165)						(2,365)
FFO attributable to Kite Realty Group Trust common shareholders1						$	25,653					$	25,642					$	81,092					$	96,290
FFO, as defined by NAREIT, per share of the Operating Partnership - basic						$	0.30					$	0.31					$	0.96					$	1.15
FFO, as defined by NAREIT, per share of the Operating Partnership - diluted						$	0.30					$	0.30					$	0.96					$	1.15
FFO of the Operating Partnership1						$	26,310					$	26,269					$	83,257					$	98,655
Add: loss on debt extinguishment						—						7,045						—						9,622
FFO, as adjusted, of the Operating Partnership						$	26,310					$	33,314					$	83,257					$	108,277
FFO, as adjusted, per share of the Operating Partnership - basic						$	0.30					$	0.39					$	0.96					$	1.26
FFO, as adjusted, per share of the Operating Partnership - diluted						$	0.30					$	0.39					$	0.96					$	1.26
Weighted average common shares outstanding - basic						84,194,821						83,960,841						84,125,405						83,914,923
Weighted average common shares outstanding - diluted						84,384,457						84,107,482						84,300,979						84,057,484
Weighted average common shares and units outstanding - basic						86,429,812						86,073,433						86,341,243						86,013,028
Weighted average common shares and units outstanding - diluted						86,619,448						86,220,075						86,516,817						86,155,588
FFO, as defined by NAREIT, per diluted share/unit
Consolidated net income						$	(0.05)					$	(0.23)					$	(0.11)					$	(0.18)
Less: net income attributable to noncontrolling interests in properties						—						—						—						—
Less: Gain on sales of operating properties						(0.04)						0.07						(0.06)						(0.29)
Add: impairment charges						—						0.10						—						0.44
Add: depreciation and amortization of consolidated and unconsolidated entities, net of noncontrolling interests						0.39						0.37						1.13						1.18
FFO, as defined by NAREIT, of the Operating Partnership per diluted share/unit1						$	0.30					$	0.30					$	0.96					$	1.15
Add: loss on debt extinguishment						—						0.08						—						0.11
FFO, as adjusted, of the Operating Partnership per diluted share/unit 2						$	0.30					$	0.39					$	0.96					$	1.26

____________________
1			“FFO of the Operating Partnership" measures 100% of the operating performance of the Operating Partnership’s real estate properties. “FFO attributable to Kite Realty Group Trust common shareholders” reflects a reduction for the redeemable noncontrolling weighted average diluted interest in the Operating Partnership.
2			Per share/unit amounts of components will not necessarily sum to the total due to rounding to the nearest cent.

p. 14 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

ADJUSTED FUNDS FROM OPERATIONS AND OTHER FINANCIAL INFORMATION

($ in thousands)
						Three Months Ended September 30,												Nine Months Ended September 30,
						2020						2019						2020						2019
Reconciliation of FFO, as adjusted, to Adjusted Funds from Operations (AFFO)
FFO, as defined by NAREIT, of the Operating Partnership						$	26,310					$	33,314					$	83,257					$	108,277
Add:
Depreciation of non-real estate assets						114						159						365						533
Amortization of deferred financing costs						467						615						1,640						2,128
Non-cash compensation expense						1,460						1,321						3,873						4,026
Less:
Straight-line rent - minimum rent						118						652						489						1,777
Straight-line rent - common area maintenance						146						287						504						784
Straight-line rent - reserve for uncollectability						(507)						(1,153)						(4,264)						(1,153)
Market rent amortization income						555						829						1,922						2,985
Amortization of debt premium						111						283						333						1,329
Capital expenditures1:
Maintenance capital expenditures						304						1,631						1,285						2,622
Revenue enhancing tenant improvements						3,490						2,304						6,938						6,365
External lease commissions						187						387						551						1,239
Total Recurring AFFO of the Operating Partnership						23,947						$	30,189					$	81,377					$	99,016
Other Financial Information:
Scheduled debt principal payments						$	559					$	1,089					$	1,662					$	3,709

____________________
1			Excludes landlord work, tenant improvements and leasing commissions relating to development, redevelopment, and Big Box Surge projects.

p. 15 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

SUMMARY INCOME STATEMENT

($ in thousands)
						Three Months Ended September 30,
						2020						2019						% Change
Same Property Revenue						$	61,830					$	65,295					(5.3)		%
Same Property Expenses						(17,204)						(17,340)						0.8		%
Same Property Net Operating Income						44,626						47,955						(6.9)		%
Sold Assets Net Operating Income						—						4,324
Non-Same Property Net Operating Income						645						1,873
Net Operating Income						45,271						54,152						(16.4)		%
General and Administrative Expense						(6,482)						(6,709)						3.4		%
Fee income						104						110						(5.5)		%
EBITDA						38,893						47,553						(18.2)		%
Interest Expense						(12,550)						(14,302)						12.3		%
Other income (expense), net						(33)						63						152.4		%
Funds From Operations, as adjusted						26,310						33,314						(21.0)		%
Non-Cash Items						1,618						1,197						(35.2)		%
Capital Expenditures						(3,981)						(4,322)						7.9		%
Recurring Adjusted Funds From Operations						23,947						30,189						(20.7)		%
FFO per share of the Operating Partnership - diluted						$	0.30					$	0.39					(23.1)		%

p. 16 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

IMPACT OF COVID-19

($ in thousands)
Bad Debt Breakout
			Amount			Supplemental Page No.:
Bad Debt Type
3rd Quarter Billed Rent Deemed Uncollectible - Operating Tenants			$	1,709
3rd Quarter Billed Rent Deemed Uncollectible - Tenants Declared Bankruptcy			1,342
3rd Quarter Cash Impact			3,051
Previous Accounts Receivable Balance Now Deemed Uncollectible			1,112
Recovery of Previous Bad Debt			(1,027)
Straight-Line Rent Reserve			507
Total 3rd Quarter Bad Debt Expense			$	3,643		13

Accounts Receivable Impact
			Amount			Supplemental Page No.:
Balance as of June 30, 2020			$	61,598
Small Business Loans			(329)
Other Activity			(718)
3rd Quarter Billed Rent Outstanding			5,875
3rd Quarter Billed Rent Deemed Uncollectible			(3,051)
Accounts Receivable Balances Prior to 3rd Quarter Deemed Uncollectible			(1,112)
Amounts Collected Outstanding as of June 30			(5,114)
Balance as of September 30, 2020			$	57,149		10

Revenue Breakdown
			Amount			Supplemental Page No.:
3rd Quarter Billed Rent			$	66,713
3rd Quarter Billed Rent Deemed Uncollectible			(3,051)
Previous Billed Rent Deemed Uncollectible			(1,112)
Reserved in Previous Quarter, Paid in 3rd Quarter			1,027
Other Revenues			904
3rd Quarter Total Revenues			64,481			13
3rd Quarter Total Revenues			64,481
Previous Accounts Receivable Balance Now Deemed Uncollectible			1,112
Recovery of Previous Bad Debt			(1,027)
Other Revenues			(904)
3rd Quarter Net Recurring Revenue			63,662
Comparison to Q1
1st Quarter Billed Rent			67,400
Difference from 1st Quarter to 3rd Quarter in Billed Rent			(1.0)		%
1st Quarter Net Recurring Revenues			68,020
Difference from 1st Quarter to 3rd Quarter in Net Recurring Revenues			(6.4)		%

p. 17 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

JOINT VENTURE SUMMARY - SEPTEMBER 30, 2020

($ in thousands)

CONSOLIDATED INVESTMENTS
Investment Partner			Total GLA			Total Assets			Total Debt			Partner Economic Ownership Interest 1			Partner Share of Debt			Partner Share of Annual Income
Individual Investors			465,917			$	141,658		$	55,290		2% - 15%			$	1,106		$	528
UNCONSOLIDATED INVESTMENTS
Investment Partner			Total GLA			Total Assets			Total Debt			KRG Economic Ownership Interest			KRG Share of Debt			KRG Investment			KRG Share of Quarterly EBITDA			KRG Share of Quarterly EBITDA Annualized
Nuveen			416,877			$	101,818		$	51,890		20%			$	10,378		$	9,205		$	304		$	1,217
Milhaus			207,000			—			—			12%			—			1,477			—			—
Individual Investors			152,460			43,636			33,634			35%			11,770			2,589			69			276
Total			776,337			$	145,454		$	85,524					$	22,148		$	13,271		$	373		$	1,493

____________________
1			Economic ownership % represents the partner's share of cash flow.

p. 18 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

SUMMARY OF OUTSTANDING DEBT AS OF SEPTEMBER 30, 2020

($ in thousands)
TOTAL OUTSTANDING DEBT 1
			Outstanding Amount						Ratio						Weighted Average Interest Rate						Weighted Average Maturity (in years)
Fixed Rate Debt			1,096,350						90		%				4.17		%				5.2
Variable Rate Debt 3			105,290						8		%				1.53		%				1.9
Net Debt Premiums and Issuance Costs, Net			(5,523)						N/A						N/A						N/A
Total Consolidated Debt			1,196,117						98		%				3.94		%				4.9
KRG Share of Unconsolidated Debt			22,148						2		%				4.59		%				6.2
Total			1,218,265						100		%				3.95		%				4.9

SCHEDULE OF MATURITIES BY YEAR
						Secured Debt
						Scheduled Principal Payments						Term Maturities						Unsecured Debt 2						Total Consolidated Debt						Total Unconsolidated Debt						Total Outstanding Debt
2020						564						—						—						564						—						564
2021						2,303						—						—						2,303						145						2,448
2022						1,043						178,877						—						179,920						340						180,260
2023						806						161,517						145,000						307,323						269						307,592
2024						854						—						—						854						282						1,136
2025						904						—						80,000						80,904						10,734						91,638
2026 And Beyond						4,672						100						625,000						629,772						10,378						640,150
Net Debt Premiums and Issuance Cost, Net						(5,523)						—						—						(5,523)						—						(5,523)
Total						$	5,623					$	340,494					$	850,000					$	1,196,117					$	22,148					$	1,218,265

1			Fixed rate debt includes, and variable rate date excludes, the portion of such debt that has been hedged by interest rate derivatives. As of September 30, 2020, $250 million in variable rate debt is hedged for a weighted average of 2.5 years.
2			This presentation reflects the Company's exercise of its option to extend the maturity date by one year to April 22, 2023 for the Company's unsecured credit facility.The ability to exercise this option is subject to certain conditions, which the Company does not unilaterally control.
3			Includes $50 million outstanding on unsecured credit facility.

p. 19 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

MATURITY SCHEDULE OF OUTSTANDING DEBT AS OF SEPTEMBER 30, 2020

($ in thousands)
Property						Interest Rate1						Maturity Date						Balance as of September 30, 2020						% of  Total Outstanding
2020 Debt Maturities																		—						—		%
2021 Debt Maturities																		—						—		%
Delray Marketplace 2						LIBOR + 160						2/5/2022						55,290
Bayonne Crossing						4.43		%				4/1/2022						42,323
Saxon Crossing						4.65		%				7/1/2022						11,400
Shops at Moore						4.29		%				9/1/2022						21,300
Shops at Julington Creek						4.60		%				9/1/2022						4,785
Centre Point Commons						4.34		%				10/1/2022						14,410
Miramar Square						4.16		%				12/1/2022						31,625
2022 Debt Maturities																		181,133						15		%
Centennial Gateway						3.81		%				1/1/2023						23,962
Centennial Center						3.83		%				1/6/2023						70,455
Eastern Beltway						3.83		%				1/6/2023						34,100
The Corner (AZ)						4.10		%				3/1/2023						14,750
Chapel Hill						3.78		%				4/1/2023						18,250
Unsecured Credit Facility 3						LIBOR + 115						4/22/2023						50,000
Senior Unsecured Note						4.23		%				9/10/2023						95,000
2023 Debt Maturities																		306,517						25		%
2024 Debt Maturities																		—						—		%
Senior Unsecured Note						4.47		%				9/10/2025						80,000
2025 Debt Maturities																		80,000						7		%
Senior Unsecured Note						4.00		%				10/1/2026						300,000
Senior Unsecured Note						4.57		%				9/10/2027						75,000
Unsecured Term Loan 4						LIBOR + 200						10/24/2028						250,000
Rampart Commons						5.73		%				6/10/2030						8,990
2026 And Beyond Debt Maturities																		633,990						52		%
NET PREMIUMS ON ACQUIRED DEBT & ISSUANCE COSTS																		(5,523)
TOTAL DEBT PER CONSOLIDATED BALANCE SHEET																		$	1,196,117					98		%
KRG Share of Unconsolidated Debt
Embassy Suites at University of Notre Dame 5						LIBOR + 250						7/1/2025						11,770
Nuveen 5						4.09%						7/1/2028						10,378
TOTAL KRG SHARE OF UNCONSOLIDATED DEBT																		22,148						2		%
TOTAL CONSOLIDATED AND KRG SHARE OF UNCONSOLIDATED DEBT																		$	1,218,265

1			At September 30 2020, one-month LIBOR was 0.15%.
2			Property is held in a joint venture. The loan is guaranteed by Kite Realty Group, LP. See Joint Venture Summary on page 18 for additional detail.
3			Assumes Company exercises its option to extend the maturity date by one year.
4			Assumes Company exercises three one-year options to extend the maturity date by three years.
5			Properties are held in joint ventures. See Joint Venture Summary on page 18 for additional detail.

p. 20 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

KEY DEBT METRICS

UNSECURED PUBLIC DEBT COVENANTS

September 30, 2020

Debt Covenant Threshold1

Total Debt to Undepreciated Assets

36%

<60%

Secured Debt to Undepreciated Assets

11%

<40%

Undepreciated Unencumbered Assets to Unsecured Debt

300%

>150%

Debt Service Coverage

3.0x

>1.5x

UNSECURED CREDIT FACILITY COVENANTS

September 30, 2020

Debt Covenant Threshold

Maximum Leverage

41%

<60%

Minimum Fixed Charge Coverage

2.9x

>1.50x

Secured Indebtedness

12%

<45%

Unsecured Debt Interest Coverage

3.5x

>1.75x

Unsecured Leverage

39%

<60%

Senior Unsecured Debt Ratings:

Moody's Investors Service

Baa3/Stable

Standard & Poor's Rating Services

BBB-/Stable

Liquidity ($ in thousands)

Cash and cash equivalents

$

129,282

Availability under unsecured credit facility

448,646

$

577,928

Unencumbered NOI as a % of Total NOI

75

%

____________________
1			For a complete listing of all Debt Covenants related to the Company's Senior Unsecured Notes, as well as definitions of the terms, refer to the Company's filings with the SEC.

NET DEBT TO EBITDA
Company's Consolidated Debt & Share of Unconsolidated Debt									$	1,222,682
Less: Cash, Cash Equivalents, and Restricted Cash									(138,236)
									$	1,084,446
Q3 2020 EBITDA, Annualized:
-  Consolidated EBITDA			$	155,572
-  Unconsolidated EBITDA 1			1,493
- Minority Interest EBITDA 1			(528)						156,536
Ratio of Company Share of Net Debt to EBITDA									6.9x

____________________

1

See page 18 for details

p. 21 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

TOP 25 TENANTS BY ANNUALIZED BASE RENT

As of September 30, 2020

($ in thousands, except per square foot data)

This table includes the following:

•Operating retail properties;

•Operating office properties; and

•Development/Redevelopment property tenants open for business or ground lease tenants who commenced paying rent as of September 30, 2020.

						Number of Stores																																				Credit Ratings
Tenant						Wholly Owned						JV1						Total Leased GLA/NRA2						Annualized Base Rent3,4						Annualized Base Rent per Sq. Ft.4						% of Total Portfolio Annualized Base Rent4						S&P						Moody's
Publix Super Markets, Inc.						11						—						535,466						$	5,454					$	10.19					2.5 %						N/A						N/A
The TJX Companies, Inc.5						14						2						471,684						4,833						11.20						2.2 %						A						A2
PetSmart, Inc.						13						1						291,379						4,084						14.62						1.9 %						B+						Ba2
Bed Bath & Beyond, Inc.6						14						2						422,348						4,081						10.52						1.9 %						B-						B3
Ross Stores, Inc.						12						1						364,442						4,000						11.61						1.9 %						BBB+						A2
Dick's Sporting Goods, Inc.7						7						—						340,502						3,679						10.81						1.7 %						N/A						N/A
Nordstrom Rack						5						1						197,797						3,571						20.75						1.7 %						BBB-						Baa3
Michaels Stores, Inc.						11						1						253,936						3,285						13.66						1.5 %						B						Ba2
National Amusements						1						—						80,000						2,953						36.92						1.4 %						B-						N/A
The Gap8						12						—						183,599						2,852						15.53						1.3 %						BB-						Ba1
Kohl's Corporation						4						—						184,516						2,832						7.87						1.3 %						BBB-						Baa2
Walmart Stores, Inc.9						5						—						—						2,693						3.32						1.2 %						BBB						Baa1
Burlington Stores, Inc.						4						—						268,445						2,676						9.97						1.2 %						AA						Aa2
Best Buy Co., Inc.						5						—						183,604						2,627						14.31						1.2 %						BBB+						Baa1
Lowe's Companies, Inc.						3						—						—						2,375						4.91						1.1 %						N/A						N/A
LA Fitness						3						—						125,209						2,292						18.31						1.1 %						CCC+						B3
Petco Animal Supplies, Inc.						9						—						125,897						2,230						17.71						1.0 %						BB						N/A
Hobby Lobby Stores, Inc.						5						—						271,254						2,218						8.18						1.0 %						N/A						N/A
Whole Foods Market, Inc.						4						—						139,781						2,130						15.24						1.0 %						A+						A2
Mattress Firm, Inc.10						16						—						76,408						2,101						27.50						1.0 %						N/A						N/A
The Kroger Co.11						3						—						60,268						2,099						9.19						1.0 %						BBB						Baa1
Randall's Food and Drugs						2						—						133,990						1,754						13.09						0.8 %						N/A						N/A
Office Depot, Inc.12						7						—						146,780						1,734						11.81						0.8 %						B						Ba3
Walgreens						3						—						52,662						1,726						32.78						0.8 %						BBB						Baa2
Stein Mart, Inc.						6						1						238,800						1,691						7.93						0.8 %						BBB						Baa2
TOTAL						179						9						5,148,767						$	71,970					$	10.99					33.3		%

1			JV Stores represent stores at unconsolidated properties.
2			Excludes the estimated size of the structures located on land owned by the Company and ground leased to tenants.
3			Annualized base rent represents the monthly contractual rent for September 30, 2020, for each applicable tenant multiplied by 12. Annualized base rent does not include tenant reimbursements. Annualized base rent represents 100% of the annualized base rent at consolidated properties and our share of the annualized base rent at unconsolidated properties.
4			Annualized base rent and percent of total portfolio includes ground lease rent.
5			Includes TJ Maxx (9), Marshalls (5) and HomeGoods (2).
6			Includes Bed Bath and Beyond (8), Buy Buy Baby (4) Christmas Tree Shops (1), and Cost Plus World Market (3).
7			Includes Dick's Sporting Goods (6) and Golf Galaxy (1).
8			Includes Old Navy (11) and Athleta (1).
9			Includes Walmart (3) and Sam's Club (2).
10			Includes Mattress Firm (12) and Sleepy's (4).
11			Includes Kroger (1), Harris Teeter (1), and Smith's (1).
12			Includes Office Depot (5) and Office Max (2).

p. 22 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

RETAIL LEASING SPREADS

																		Comparable Space1, 2
Category						Total Leases						Total Sq. Ft.						Leases						Sq. Ft.						Prior Rent PSF3						New Rent PSF4						Cash Rent Spread			GAAP Rent Spread5			TI, LL Work, Lease Commissions PSF6
New Leases - Q3, 2020						21						87,000						16						69,144						$	22.03					$	22.53					2.3		%	15.3		%
New Leases - Q2, 2020						5						44,650						4						42,650						11.82						21.14						78.9		%	95.6		%
New Leases - Q1, 2020						15						124,235						11						113,251						15.61						17.41						11.5		%	34.6		%
New Leases - Q4, 2019						26						111,552						16						86,085						16.36						23.13						41.4		%	52.6		%
Total						67						367,437						47						311,130						$	16.72					$	20.64					23.4		%	37.6		%				$	53.25
Renewals - Q3, 2020						57						370,151						45						314,219						$	15.03					$	16.18					7.6		%	14.5		%
Renewals - Q2, 2020						30						257,761						24						240,003						11.71						12.80						9.3		%	16.8		%
Renewals - Q1, 2020						27						131,878						21						94,130						19.02						20.73						8.9		%	16.3		%
Renewals - Q4, 2019						30						190,159						29						187,790						14.40						15.55						8.0		%	13.4		%
Total						144						949,949						119						836,142						$	14.38					$	15.58					8.3		%	13.9		%				$	0.28
Total - Q3, 2020						78						457,151						61						383,363						$	16.29					$	17.33					6.3		%	14.7		%
Total - Q2, 2020						35						302,411						28						282,653						17.16						18.91						10.2		%	25.5		%
Total - Q1, 2020						42						256,113						32						207,381						15.02						17.94						19.4		%	27.1		%
Total - Q4, 2019						56						301,711						45						273,875						13.74						14.82						7.9		%	12.3		%
Total						211						1,317,386						166						1,147,272						$	15.67					$	17.23					10.0		%	20.2		%				$	12.21

________________
1			Comparable space leases on this report are included for second generation retail spaces. Comparable leases represent those leases for which there was a former tenant within the last 12 months. Leases at our two office properties, Thirty South Meridian and Eddy Street Commons, and ground leases are excluded.
2			Comparable renewals exclude terms shorter than two years.
3			Prior rent represents minimum rent, if any, paid by the prior tenant in the final 12 months of the term. All amounts reported at lease execution.
4			Contractual rent represents contractual minimum rent per square foot for the first 12 months of the lease.
5			The aggregate spread on a straight-line basis over the contractual life of the lease to the comparable lease.
6			Includes redevelopment costs for tenant specific landlord work and tenant allowances provided to tenants.

p. 23 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

LEASE EXPIRATIONS

As of September 30, 2020

($ in thousands, except per square foot data)

This table includes the following:

•Operating retail properties;

•Operating office properties; and

•Development/Redevelopment property tenants open for business or ground lease tenants who commenced paying rent as of September 30, 2020.

												Expiring GLA2																														Expiring Annualized Base Rent per Sq. Ft.3
						Number of Expiring Leases1						Shop Tenants						Anchor Tenants						Office and Other Tenants						Expiring Annualized Base Rent (Pro-rata)						% of Total Annualized Base Rent (Pro-rata)						Shop Tenants						Anchor Tenants						Office and Other Tenants			Total
2020						40						65,647						112,264						3,242						$	3,404					1.7		%				$	27.62					$	14.91					$	19.25		$	19.36
2021						175						366,461						583,481						17,868						17,647						8.9		%				28.68						12.10						21.97			18.44
2022						248						507,846						1,058,475						65,020						29,001						14.7		%				27.45						13.15						19.80			17.83
2023						243						496,610						1,125,475						113,177						31,707						16.0		%				29.05						14.71						7.14			18.30
2024						204						441,082						778,562						33,827						22,170						11.2		%				29.66						13.90						14.04			20.14
2025						191						392,158						1,192,986						124,107						26,242						13.3		%				30.04						10.78						17.14			15.77
2026						110						269,370						797,543						—						14,510						7.3		%				25.95						10.08						—			14.29
2027						73						195,278						369,095						9,154						10,034						5.1		%				28.84						12.70						32.24			19.01
2028						71						173,233						304,757						61,747						11,110						5.6		%				30.87						14.56						22.19			20.64
2029						49						124,096						177,159						—						5,979						3.0		%				30.75						12.21						—			19.85
Beyond						99						248,178						1,082,353						54,721						26,125						13.2		%				28.95						16.60						23.16			19.00
						1,503						3,279,959						7,582,150						482,863						$	197,929					100.0		%				$	28.82					$	13.24					$	16.75		$	17.97

____________________
1			Lease expiration table reflects rents in place as of September 30, 2020 and does not include option periods; 2020 expirations include 11 month-to-month tenants. This column also excludes ground leases.
2			Expiring GLA excludes estimated square footage attributable to non-owned structures on land owned by the Company and ground leased to tenants.
3			Annualized base rent represents the monthly contractual rent as of September 30, 2020 for each applicable tenant multiplied by 12. Excludes tenant reimbursements and ground lease revenue.

p. 24 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

DEVELOPMENT AND REDEVELOPMENT PROJECTS

($ in thousands)

Project			MSA			KRG Ownership %			Anticipated Start Date			Projected Stabilization Date1			Projected New Total GLA			Projected New Owned GLA			Total Project Cost			KRG Equity Requirement			KRG Remaining Spend			Estimated Return on Project2
Active Developments
Eddy Street Commons at Notre Dame, IN - Phase II			South Bend, IN			100%			N/A			Q4 2020			530,000			8,500			$	90,800		$	10,000		$	2,700		11.0% - 13.0%
Glendale Town Center Apartments			Indianapolis, IN			12%			Q2 2020			Q2 2022			207,000			24,000			38,400			1,200			1,200			7.0% - 8.0%
Eddy Street Commons at Notre Dame, IN - Phase III			South Bend, IN			100%			Q3 2020			Q1 2022			68,500			18,600			7,500			7,500			7,155			8.5% - 9.5%
Total															805,500			51,100			$	136,700		$	18,700		$	11,055		10.0% - 11.0%

Future Opportunities3
Hamilton Crossing Centre			Indianapolis, IN			Creation of a mixed use (office, retail, and multi-family) development.
Glendale Town Center Retail			Indianapolis, IN			Backfilling vacant box with several national retailers and potential for outparcel development
The Corner			Indianapolis, IN			Creation of a mixed use (retail and multi-family) development to replace an unanchored small shop center.

Big Box Surge
Leases Signed			22
Tenants Open and Paying Rent			19
Capital Spent (cumulative)			$	35,700
Estimated Capital Remaining			3,700
Total Estimated Capital			$	39,400
Estimated Return on Costs			17		%

Projected Annualized Development / Redevelopment Cash NOI Summary
Remaining Under Construction Development / Redevelopment Cash NOI4			$	1,882
Total Remaining Annual Cash NOI			$	1,882

____________________
1			Stabilization date represents near completion of project construction and substantial occupancy of the property.
2			Projected ROI for redevelopments is an estimate of the expected incremental stabilized annual operating cash flows to be generated divided by the estimated project costs, including construction, development, financing, and other soft costs, when applicable to the project.
3			These opportunities are deemed potential at this time and are subject to various contingencies, many of which could be beyond the Company's control.
4			Does not include NOI associated with the Big Box Surge.

p. 25 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

GEOGRAPHIC DIVERSIFICATION – ANNUALIZED BASE RENT BY REGION AND STATE

As of September 30, 2020

($ in thousands)

						Total Operating Portfolio Excluding Developments and Redevelopments												Developments and Redevelopments2												Joint Ventures3												Total Operating Portfolio Including Developments and Redevelopments
Region/State						Owned GLA/NRA1						Annualized Base Rent						Owned GLA/NRA1						Annualized Base Rent						Owned GLA/NRA1						Annualized Base Rent						Number of Properties						Owned GLA/NRA1						Annualized Base Rent - Ground Leases						Total Annualized Base Rent						Percent of Annualized Base Rent
South
Florida						3,323,571						$	52,742					—						$	—					121,591						$	1,529					29						3,445,162						$	3,740					$	58,011					26.3%
Texas						1,798,679						28,322						—						—						156,146						2,819						10						1,954,825						1,354						32,495						14.8%
North Carolina						1,072,858						20,220						—						—						—						—						8						1,072,858						2,004						22,224						10.1%
Oklahoma						505,229						6,410						—						—						—						—						3						505,229						861						7,271						3.3%
Georgia						276,318						3,676						—						—						—						—						1						276,318						336						4,012						1.8%
South Carolina						257,833						2,665						—						—						—						—						2						257,833						—						2,665						1.2%
Tennessee						230,981						3,755						—						—						—						—						1						230,981						—						3,755						1.7%
Texas - Other						107,400						591						—						—						—						—						1						107,400						—						591						0.3%
Total South						7,572,869						118,381						—						—						277,737						4,348						55						7,850,606						8,295						131,024						59.5%
Midwest
Indiana - Retail						1,393,755						22,430						537,816						2,571						—						—						20						1,931,571						1,514						26,515						12.0%
Indiana - Other						366,502						6,762						24,000						—						—						—						4						390,502						—						6,762						3.1%
Illinois						83,759						1,141						—						—						—						—						1						83,759						—						1,141						0.5%
Ohio						236,230						2,155						—						—						—						—						1						236,230						—						2,155						1.0%
Total Midwest						2,080,246						32,488						561,816						2,571						—						—						26						2,642,062						1,514						36,573						16.6%
West
Nevada						769,090						18,940						—						—						—						—						4						769,090						3,633						22,573						10.2%
Utah						392,324						7,274						—						—						—						—						2						392,324						—						7,274						3.3%
Arizona						79,902						2,467						—						—						—						—						1						79,902						—						2,467						1.1%
Total West						1,241,316						28,681						—						—						—						—						7						1,241,316						3,633						32,314						14.6%
Northeast
New York						363,103						9,150						—						—						—						—						1						363,103						—						9,150						4.1%
New Jersey						112,788						2,818						—						—						139,022						2,814						2						251,810						2,103						7,735						3.5%
Connecticut						205,683						2,408						—						—						—						—						1						205,683						1,061						3,469						1.6%
Total Northeast						681,574						14,376						—						—						139,022						2,814						4						820,596						3,164						20,354						9.2%
						11,576,005						$	193,926					561,816						$	2,571					416,759						$	7,162					92						12,554,580						$	16,606					$	220,265					100.0%

____________________
1			Owned GLA/NRA represents gross leasable area or net leasable area owned by the Company. It also excludes the square footage of Union Station Parking Garage and Pan Am Plaza Parking Garage.
2			Represents the three redevelopment and two development project not in the retail operating portfolio.
3			Represents the three operating properties owned in unconsolidated joint ventures.

p. 26 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

OPERATING RETAIL PORTFOLIO SUMMARY REPORT

As of September 30, 2020

Property			Location (MSA)			Year Built/ Renovated			Owner-ship %			Owned GLA1												Leased %									ABR per SqFt			Grocery Anchors2			Other Retailers2
												Total			Anchors			Shops						Total			Anchors			Shops
Arizona
The Corner			Tucson			2008			100%			79,902			55,883			24,019						100.0 %			100.0 %			100.0 %			$	30.87		Total Wine & More			Nordstrom Rack, Panera Bread, (Home Depot)
Connecticut
Crossing at Killingly Commons			Willimantic, CT			2010			85%			205,683			148,250			57,433						79.4 %			86.2 %			61.6 %			14.75			Stop & Shop Supermarket, (Target)			TJ Maxx, Michaels, Petco, Staples, Lowe's Home Improvement Center
Florida
12th Street Plaza			Vero Beach			1978/2003			100%			135,016			121,376			13,640						100.0 %			100.0 %			100.0 %			10.40			Publix			Stein Mart, Tuesday Morning
Bayport Commons			Tampa			2008			100%			97,163			71,540			25,623						100.0 %			100.0 %			100.0 %			18.18			(Target)			Burlington, PetSmart, Michaels
Centre Point Commons			Sarasota			2007			100%			119,359			93,574			25,785						97.4 %			100.0 %			88.2 %			17.71						Best Buy, Dick's Sporting Goods, Office Depot, Panera Bread, (Lowe's Home Improvement Center)
Cobblestone Plaza			Miami			2011			100%			133,251			68,219			65,032						96.7 %			100.0 %			93.2 %			28.67			Whole Foods			Party City, Planet Fitness
Colonial Square			Fort Myers			2010			100%			186,517			150,505			36,012						88.1 %			100.0 %			38.4 %			11.77						Kohl's, Hobby Lobby, PetSmart
Delray Marketplace			Miami			2013			98%			260,347			118,136			142,211						94.9 %			100.0 %			90.6 %			26.35			Publix			Paragon Theatres, Burt & Max's, Ann Taylor Loft, Chico's, White House Black Market
Estero Town Commons			Fort Meyers			2006			100%			25,696			—			25,696						94.7 %			0.0 %			94.7 %			15.44						Lowe's Home Improvement Center, Dollar Tree
Hunter's Creek Promenade			Orlando			1994			100%			119,738			55,999			63,739						97.0 %			100.0 %			94.4 %			15.12			Publix
Indian River Square			Vero Beach			1997/2004			100%			142,622			109,000			33,622						90.3 %			100.0 %			58.9 %			11.86			(Target)			Beall's, Office Depot, Dollar Tree, Panera
International Speedway Square			Daytona Beach			1999/2013			100%			233,424			203,405			30,019						94.6 %			100.0 %			57.9 %			11.34			Total Wine & More			Bed Bath & Beyond, Stein Mart, Old Navy, Staples, Michaels, Dick’s Sporting Goods, Shoe Carnival
Kings Lake Square			Naples			1986/2014			100%			88,611			45,600			43,011						99.1 %			100.0 %			98.1 %			19.30			Publix
Lake City Commons			Lake City			2008			100%			65,746			45,600			20,146						100.0 %			100.0 %			100.0 %			15.90			Publix
Lake City Commons - Phase II			Lake City			2011			100%			16,291			12,131			4,160						100.0 %			100.0 %			100.0 %			15.89			Publix			PetSmart
Lake Mary Plaza			Orlando			2009			100%			21,385			14,880			6,505						100.0 %			100.0 %			100.0 %			38.22						Walgreens
Lithia Crossing			Tampa			2003/2013			100%			90,522			53,547			36,975						98.7 %			100.0 %			96.8 %			16.15			The Fresh Market			Stein Mart, Chili's, Panera Bread
Miramar Square			Miami			2008			100%			225,146			147,505			77,641						93.8 %			100.0 %			82.1 %			17.65			Sprouts Farmers Market			Kohl's, Miami Children's Hospital
Northdale Promenade			Tampa			1985/2017			100%			179,559			130,269			49,290						93.8 %			100.0 %			77.4 %			12.68			(Winn Dixie)			TJ Maxx, Ulta Beauty, Beall's, Crunch Fitness, Tuesday Morning
Pine Ridge Crossing			Naples			1993			100%			105,955			66,435			39,520						96.3 %			100.0 %			90.0 %			18.31			Publix, (Target)			Ulta Beauty, (Beall's)
Pleasant Hill Commons			Orlando			2008			100%			70,645			45,600			25,045						100.0 %			100.0 %			100.0 %			16.03			Publix
Riverchase Plaza			Naples			1991/2001			100%			78,291			48,890			29,401						96.3 %			100.0 %			90.3 %			17.12			Publix
Saxon Crossing			Daytona Beach			2009			100%			119,909			95,304			24,605						97.2 %			100.0 %			86.2 %			15.40			(Target)			Hobby Lobby, LA Fitness, (Lowe's Home Improvement Center)
Shoppes of Eastwood			Orlando			1997			100%			69,076			51,512			17,564						92.0 %			100.0 %			68.5 %			13.03			Publix
Shops at Eagle Creek			Naples			1983/2013			100%			70,731			50,187			20,544						95.8 %			100.0 %			85.7 %			16.21			The Fresh Market			Staples, Panera Bread, (Lowe's Home Improvement Center)
Tamiami Crossing			Naples			2016			20%			121,591			121,591			—						100.0 %			100.0 %			0.0 %			12.58			Aldi, (Walmart)			Marshalls, Michaels, PetSmart, Ross Stores, Stein Mart, Ulta Beauty
Tarpon Bay Plaza			Naples			2007			100%			81,864			59,442			22,422						100.0 %			100.0 %			100.0 %			17.74			(Target)			PetSmart, Cost Plus World Market, Ross Stores, Panera Bread

See footnotes on page 30

p. 27 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

OPERATING RETAIL PORTFOLIO SUMMARY REPORT (CONTINUED)

As of September 30, 2020

Property1			Location (MSA)			Year Built/ Renovated			Owner-ship %			Owned GLA2												Leased %									ABR per Sq. ft.			Grocery Anchors4			Other Retailers4
												Total			Anchors			Shops						Total			Anchors			Shops
The Landing at Tradition			Port St. Lucie			2007			100%			359,049			283,030			76,019						77.1 %			75.6 %			82.9 %			16.47			(Target)			TJ Maxx, Ulta Beauty, Bed Bath & Beyond, LA Fitness, Michaels, Old Navy, PetSmart, DSW, Five Below, Ross Stores
The Shops at Julington Creek			Jacksonville			2011			100%			40,254			21,038			19,216						100.0 %			100.0 %			100.0 %			20.70			The Fresh Market
Tradition Village Center			Port St. Lucie			2006			100%			85,057			45,600			39,457						96.9 %			100.0 %			93.3 %			18.56			Publix
Waterford Lakes Village			Orlando			1997			100%			78,007			51,703			26,304						93.4 %			100.0 %			80.3 %			13.25			Winn Dixie
Georgia
Mullins Crossing			Augusta			2005			100%			276,318			228,224			48,094						99.3 %			100.0 %			96.1 %			13.39			(Target)			Ross Stores, Old Navy, Five Below, Kohls, La-Z-Boy, Marshalls, Office Max, Petco, Ulta Beauty, Panera Bread
Illinois
Naperville Marketplace			Chicago			2008			100%			83,759			61,683			22,076						97.7 %			100.0 %			91.1 %			13.95			(Caputo's Fresh Market)			TJ Maxx, PetSmart
Indiana
54th & College			Indianapolis			2008			100%			—			—			—						—		%	—		%	—		%	—			The Fresh Market
Bridgewater Marketplace			Westfield			2008			100%			25,975			—			25,975						100.0 %			0.0 %			100.0 %			22.15						(Walgreens), The Local Eatery, Original Pancake House
Castleton Crossing			Indianapolis			1975/2012			100%			286,377			247,710			38,667						97.4 %			100.0 %			80.6 %			12.20						TJ Maxx/HomeGoods, Burlington, Shoe Carnival, Value City Furniture, K&G Menswear, Chipotle, Verizon, Five Below
Cool Creek Commons			Westfield			2005			100%			124,271			53,600			70,671						94.2 %			100.0 %			89.7 %			19.42			The Fresh Market			Stein Mart, McAlister's Deli, Buffalo Wild Wings, Pet People
Depauw University Bookstore and Café			Indianapolis			2012			100%			11,974			—			11,974						100.0 %			0.0 %			100.0 %			9.17						Follett's, Starbucks
Eddy Street Commons at Notre Dame			South Bend			2009			100%			87,987			20,154			67,833						95.2 %			100.0 %			93.8 %			27.39						Hammes Bookstore & Cafe, Chipotle, Urban Outfitters, Five Guys, Kilwins, Blaze Pizza
Fishers Station			Fishers			1989/2018			100%			52,395			15,441			36,954						78.8 %			100.0 %			70.0 %			16.72						Dollar Tree, Goodwill
Geist Pavilion			Fishers			2006			100%			63,910			29,700			34,210						100.0 %			100.0 %			100.0 %			17.68						Ace Hardware, Goodwill, Ale Emporium, Pure Barre
Greyhound Commons			Carmel			2005			100%			9,152			—			9,152						100.0 %			0.0 %			100.0 %			15.33						(Lowe's Home Improvement Center), Koto Japenese Steakhouse
Nora Plaza			Indianapolis			2004			100%			139,670			73,589			66,081						94.1 %			100.0 %			87.6 %			15.23			Whole Foods, (Target)			Marshalls
Rangeline Crossing			Carmel			1986/2013			100%			99,506			48,171			51,335						67.9 %			47.7 %			86.9 %			25.19						Walgreens, Panera Bread, Pet Valu, City BBQ
Rivers Edge			Indianapolis			2011			100%			150,459			117,890			32,569						96.8 %			100.0 %			85.2 %			22.44						Nordstrom Rack, The Container Store, Arhaus Furniture, Bicycle Garage of Indy, Buy Buy Baby
Stoney Creek Commons			Noblesville			2000/2013			100%			84,226			84,226			—						64.1 %			64.1 %			0.0 %			14.38						LA Fitness, Goodwill, (Lowe's Home Improvement Center)
Traders Point I			Indianapolis			2005			100%			211,874			170,809			41,065						94.3 %			100.0 %			70.4 %			14.45						Dick's Sporting Goods, AMC Theatres, Bed Bath & Beyond, Michaels, Old Navy, PetSmart, Books-A-Million
Traders Point II			Indianapolis			2005			100%			45,979			—			45,979						93.0 %			0.0 %			93.0 %			27.55						Starbucks, Noodles & Company, Qdoba

See footnotes on page 30

p. 28 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

OPERATING RETAIL PORTFOLIO SUMMARY REPORT (CONTINUED)

As of September 30, 2020

Property1			Location (MSA)			Year Built/ Renovated			Owner-ship %			Owned GLA2												Leased %									ABR per Sqft			Grocery Anchors4			Other Retailers4
												Total			Anchors			Shops						Total			Anchors			Shops
Nevada
Centennial Center			Las Vegas			2002			100%			334,023			147,824			186,199						99.2 %			100.0 %			98.6 %			25.91			Sam's Club, Walmart			Ross Stores, Big Lots, Famous Footwear, Michaels, Petco, Home Depot, HomeGoods, Skechers, Five Below, Sephora, Tillys
Centennial Gateway			Las Vegas			2005			100%			193,436			140,277			53,159						76.1 %			67.9 %			97.8 %			25.13			Trader Joe's			Party City, Sportsman's Warehouse, Walgreens
Eastern Beltway Center			Las Vegas			1998/2006			100%			162,317			77,436			84,881						89.3 %			100.0 %			79.6 %			27.38			Sam's Club, Walmart			Petco, Ross Stores, Skechers, Old Navy, (Home Depot)
Rampart Commons			Las Vegas			2002/2018			100%			79,314			11,965			67,349						100.0 %			100.0 %			100.0 %			33.80						Athleta, North Italia, Pottery Barn, Williams Sonoma, Flower Child, Crunch Fitness
New Jersey
Bayonne Crossing			New York / Northern New Jersey			2011			100%			112,788			52,219			60,569						72.8 %			41.2 %			100.0 %			34.33			Walmart			Michaels, Lowe's Home Improvement Center
Livingston Shopping Center			New York / Northern New Jersey			1997			20%			139,022			133,125			5,897						97.9 %			100.0 %			50.8 %			20.67						Cost Plus World Market, Buy Buy Baby, Nordstrom Rack, DSW, TJ Maxx, Ulta Beauty
New York
City Center			New York / Northern New Jersey			2004/2018			100%			363,103			325,139			37,964						96.9 %			100.0 %			70.7 %			25.99			ShopRite			Nordstrom Rack, New York Sports Club, Burlington, Club Champion Golf, National Amusements
North Carolina
Holly Springs Towne Center - Phase I			Raleigh			2013			100%			209,854			121,761			88,093						91.6 %			100.0 %			80.1 %			18.25			(Target)			Dick's Sporting Goods, Marshalls, Petco, Ulta Beauty, Michaels, Old Navy, Five Below
Holly Springs Towne Center - Phase II			Raleigh			2016			100%			145,009			111,843			33,166						100.0 %			100.0 %			100.0 %			18.10			(Target)			Bed Bath & Beyond, DSW, AMC Theatres, 02 Fitness
Northcrest Shopping Center			Charlotte			2008			100%			133,621			65,576			68,045						94.2 %			100.0 %			88.6 %			23.68			(Target)			REI Co-Op, David's Bridal, Old Navy, Five Below
Oleander Place			Wilmington			2012			100%			45,524			30,144			15,380						100.0 %			100.0 %			100.0 %			17.98			Whole Foods
Parkside Town Commons - Phase I			Raleigh			2015			100%			55,368			22,500			32,868						100.0 %			100.0 %			100.0 %			26.10			Harris Teeter/Kroger, (Target)			Petco, Guitar Center
Parkside Town Commons - Phase II			Raleigh			2017			100%			296,715			187,406			109,309						79.8 %			68.0 %			100.0 %			20.48			(Target)			Golf Galaxy, Hobby Lobby, Stein Mart, Chuy's, Starbucks, Panera Bread, Levity Live
Perimeter Woods			Charlotte			2008			100%			125,666			105,262			20,404						100.0 %			100.0 %			100.0 %			20.80						Best Buy, Off Broadway Shoes, PetSmart, Michaels, (Lowe's Home Improvement Center)
Toringdon Market			Charlotte			2004			100%			61,101			26,546			34,555						97.9 %			100.0 %			96.3 %			23.07			Earth Fare
Ohio
Eastgate Pavilion			Cincinnati			1995			100%			236,230			231,730			4,500						100.0 %			100.0 %			100.0 %			9.12						Best Buy, Dick's Sporting Goods, Value City Furniture, Petsmart, DSW, Bed Bath & Beyond
Oklahoma
Belle Isle Station			Oklahoma City			2000			100%			196,164			115,783			80,381						85.9 %			100.0 %			65.5 %			17.39			(Walmart)			REI, Shoe Carnival, Old Navy, Ross Stores, Nordstrom Rack, Ulta Beauty, Five Below
Shops at Moore			Oklahoma City			2010			100%			260,625			188,037			72,588						91.8 %			94.6 %			84.3 %			12.30						Bed Bath & Beyond, Best Buy, Hobby Lobby, Old Navy, PetSmart, Ross Stores
Silver Springs Pointe			Oklahoma City			2001			100%			48,440			20,515			27,925						83.0 %			100.0 %			70.4 %			13.42			(Sam's Club), (Walmart)			Kohls, Office Depot, (Home Depot)

See footnotes on page 30

p. 29 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

OPERATING RETAIL PORTFOLIO SUMMARY REPORT (CONTINUED)

As of September 30, 2020

Property1			Location (MSA)			Year Built/ Renovated			Owner-ship %			Owned GLA2												Leased %									ABR per Sqft						Other Retailers4
												Total			Anchors			Shops						Total			Anchors			Shops						Grocery Anchor4
South Carolina
Publix at Woodruff			Greenville			1997			100%			68,103			47,955			20,148						91.0 %			100.0 %			69.5 %			10.53			Publix
Shoppes at Plaza Green			Greenville			2000			100%			189,730			162,068			27,662						82.6 %			87.0 %			56.8 %			12.84						Bed Bath & Beyond, Christmas Tree Shops, Sears Outlet, Party City, Shoe Carnival, Old Navy
Tennessee
Cool Springs Market			Nashville			1995			100%			230,981			172,712			58,269						97.8 %			100.0 %			91.4 %			16.61			(Kroger)			Dick's Sporting Goods, Marshalls, Buy Buy Baby, DSW, Staples, Jo-Ann Fabric, Panera Bread
Texas
Chapel Hill Shopping Center			Dallas/Ft. Worth			2001			100%			126,812			43,450			83,362						97.2 %			100.0 %			95.8 %			26.57			H-E-B Grocery			The Container Store, Cost Plus World Market
Colleyville Downs			Dallas/Ft. Worth			2014			100%			194,675			139,219			55,456						94.4 %			100.0 %			80.5 %			15.53			Whole Foods			Westlake Hardware, Goody Goody Liquor, Petco, Fit Factory
Kingwood Commons			Houston			1999			100%			158,109			74,836			83,273						91.9 %			100.0 %			84.7 %			21.33						Petco, Chico's, Talbots, Ann Taylor
Market Street Village/ Pipeline Point			Dallas/Ft. Worth			1970/2011			100%			156,621			136,742			19,879						100.0 %			100.0 %			100.0 %			13.44						Jo-Ann Fabric, Ross Stores, Office Depot, Buy Buy Baby, Party City
Plaza at Cedar Hill			Dallas/Ft. Worth			2000/2010			100%			295,723			234,358			61,365						92.3 %			100.0 %			63.1 %			13.56			Sprouts Farmers Market, Total Wine			DSW, Ross Stores, Hobby Lobby, Office Max, Marshalls, Home Goods
Plaza Volente			Austin			2004			20%			156,146			105,000			51,146						100.0 %			100.0 %			100.0 %			18.05			H-E-B Grocery
Portofino Shopping Center			Houston			1999/2010			100%			369,781			218,861			150,920						92.9 %			100.0 %			82.6 %			19.85			(Sam's Club)			DSW, Michaels, PGA Superstore, SteinMart, PetSmart, Old Navy, TJ Maxx, Nordstrom Rack, Five Below
Sunland Towne Centre			El Paso			1996/2014			100%			306,454			265,037			41,417						98.9 %			100.0 %			91.7 %			11.27			Sprouts Farmers Market			PetSmart, Ross Stores, Bed Bath & Beyond, Spec's Fine Wines, At Home
Waxahachie Crossing			Dallas/Ft. Worth			2010			100%			97,127			72,191			24,936						100.0 %			100.0 %			100.0 %			15.39						Best Buy, PetSmart, Ross Stores, (Home Depot)
Westside Market			Dallas/Ft. Worth			2013			100%			93,377			70,000			23,377						100.0 %			100.0 %			100.0 %			16.65			Randalls Tom Thumb
Utah
Draper Crossing			Salt Lake City			2012			100%			164,657			115,916			48,741						100.0 %			100.0 %			100.0 %			17.26			Kroger/Smith's			TJ Maxx, Dollar Tree, Downeast Home
Draper Peaks			Salt Lake City			2012			100%			227,667			101,464			126,203						91.5 %			100.0 %			84.7 %			21.26						Michaels, Office Depot, Petco, Quilted Bear, Ross Stores, (Kohl's)
Total												11,494,522			7,811,845			3,682,677						93.3		%	96.0		%	87.4		%	$	18.00
Total at Pro-Rata Share												11,161,115			7,524,972			3,637,043						93.1		%	95.9		%	87.3		%	$	18.03

____________________
1						Percentage of Owned GLA Leased reflects Owned GLA/NRA leased as of September 30, 2020, except for Greyhound Commons and 54th & College.
2						Tenants within parentheses are non-owned.

p. 30 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

NON-RETAIL OPERATING PROPERTIES

As of September 30, 2020

($ in thousands, except per square foot data)

Property			MSA			Year Built/ Renovated			Owned NRA			Percentage Of Owned NRA Leased			Annualized Base Rent1			Percentage of Annualized Office and Other Base Rent			Base Rent Per Leased Sq. Ft.						Major Tenants
Commercial Properties
Thirty South Meridian2			Indianapolis			1905/2002			284,874			94.6		%	$	5,435		67.2		%	$	20.18					Carrier, Kite Realty Group, Lumina Foundation
Union Station Parking Garage3			Indianapolis			1986			N/A			N/A			N/A			N/A			N/A						Denison Parking (manager)
Pan Am Plaza Parking Garage3			Indianapolis						N/A			N/A			N/A			N/A			N/A						Denison Parking (manager)
Stand-alone Office Components of Retail Properties
Eddy Street Office (part of Eddy Street Commons)4			South Bend			2009			81,628			100.0		%	1,324			16.4		%	16.23						University of Notre Dame Offices
Tradition Village Office (part of Tradition Village Square)			Port St. Lucie			2006			24,340			100.0		%	734			9.1		%	30.14
Total Commercial Properties									390,842			96.1		%	$	7,494		92.7		%	$	19.96
Other Properties
Burlington			San Antonio			1992/2000			107,400			100.0		%	$	591		7.3		%	$	5.50					Burlington
									107,400			100.0		%	$	591		7.3		%	$	5.50
Total Commercial and Other									498,242			96.9		%	$	8,084		100.0		%	$	16.75
Multi-Family/Lodging
Embassy Suites South Bend at Notre Dame5			South Bend			2018			—			N/A			—			—			—						Full service hotel with 164 rooms
The Foundry Lofts and Apartments at Eddy Street			South Bend			2009			—			100.0		%	—			—			—						Air rights lease for apartment complex with 266 units
Summit at City Center Apartments			New York / Northern New Jersey			2004			—			100.0		%	—			—			—						Apartment complex with 24 units.

____________________
1			Annualized Base Rent represents the monthly contractual rent as of September 30, 2020 for each applicable property, multiplied by 12.
2			Annualized Base Rent includes $852,256 from the Company and subsidiaries as of September 30, 2020, which is eliminated for purposes of our consolidated financial statement presentation.
3			The garage is managed by a third party.
4			The Company also owns the Eddy Street Commons retail shopping center in South Bend, Indiana, along with a parking garage that serves a hotel and the office and retail components of the property.
5			Property owned in an unconsolidated joint venture.

p. 31 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020

COMPONENTS OF NET ASSET VALUE

As of September 30, 2020

($ in thousands)

Cash Net Operating Income (NOI)						Supplemental Page No.:						Other Assets						Supplemental Page No.:
GAAP property NOI (incl. Ground Lease Revenue)			$	45,271		13						Cash and cash equivalents			$	129,282		10
Below-market lease intangibles, net			(555)			15						Tenant and other receivables (net of SLR)			32,638			10
Straight-line rent including reserve for uncollectability			243			15						Restricted cash and escrow deposits			8,035			10
Other property related revenue			(201)			13						Prepaid and other assets			39,304			10
Ground lease ("GL") revenue			(4,152)			13						Undeveloped land in operating portfolio 1			13,000
Consolidated Cash Property NOI (excl. GL)			$	40,607								Land held for development			13,612
Annualized Consolidated Cash Property NOI (excl. ground leases)			$	162,426								CIP not in under construction development/redevelopment2			17,659
												Total Other Asset Value			$	253,530
Adjustments To Normalize Annualized Cash NOI												Liabilities
Total projected remaining development / transitional redevelopment cash NOI 3			$	1,882		25						Mortgage and other indebtedness			$	(1,196,117)		10
Unconsolidated EBITDA			1,493			18						KRG share of unconsolidated debt			(22,148)			19
												Partner share of consolidated joint venture debt			1,106
												Accounts payable and accrued expenses			(88,500)			10
General and administrative expense allocable to property management activities included in property expenses ($1,600 in Q3)			6,400			13, footnote 4						Other liabilities4			(38,819)			10
Total Adjustments			9,775									Debt premium and issuance costs, net			(5,523)			19
												Non-controlling redeemable joint venture interest			(10,070)
												Projected remaining under construction development/redevelopment 5			(11,055)			25
Annualized Normalized Portfolio Cash NOI (excl. Ground Leases)			$	172,201								Total Liabilities			$	(1,371,126)
Annualized Ground Lease NOI			16,606
Total Annualized Portfolio Cash NOI			$	188,807								Common Shares and Units Outstanding			86,430,954

____________________
1			Undeveloped land with a book value of $13.0 million at September 30, 2020.
2			Includes CIP amounts for miscellaneous tenant improvements and small projects.
3			Excludes the projected cash NOI and related cost from the redevelopment opportunities outlined on page 25.
4			Deferred revenue and other liabilities of $86.3 million less mark-to-market lease liability of $47.4 million.
5			Remaining costs on page 25 for development projects and Big Box Surge.

p. 32 Kite Realty Group Trust Supplemental Financial and Operating Statistics –9/30/2020