EX-99.1 2 d430910dex991.htm EX-99.1

Exhibit 99.1

DDR Corp.

Table of Contents

Section |  | Page
Earnings Release & Financial Statements |  |
Press Release |  | 1–7
Company Summary |  |
Portfolio Summary |  | 8
Capital Structure |  | 9
Same Store Metrics |  | 10
Leasing Summary |  | 11
Top 50 Tenants |  | 12
Lease Expirations |  | 13
Investments |  |
Developments/Redevelopments |  | 14
Transactions |  | 15
Debt Summary |  |
Debt Summary |  | 16
Consolidated Debt Detail |  | 17–18
Unconsolidated Debt Detail |  | 19–20
Debt/Adjusted EBITDA |  | 21
Unconsolidated Joint Ventures |  |
Unconsolidated Joint Ventures |  | 22–23
Reporting Policies and Other |  |
Notable Accounting and Supplemental Policies |  | 24–25
Non-GAAP Measures and Reconciliations |  | 26–29
Leasing Metrics for Wholly-Owned and Joint Ventures at 100% |  | 30–33
Property List |  | 34–40

DDR considers portions of this information to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Company’s expectations for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially from those indicated by such forward-looking statements, including among other factors, local conditions such as supply of space or a reduction in demand for real estate in the area; competition from other available space; dependence on rental income from real property; the loss of, significant downsizing of or bankruptcy of a major tenant; redevelopment and construction activities may not achieve a desired return on investment; our ability to buy or sell assets on commercially reasonable terms; our ability to complete acquisitions or dispositions of assets under contract; our ability to secure equity or debt financing on commercially acceptable terms or at all; our ability to enter into definitive agreements with regard to our financing and joint venture arrangements or our failure to satisfy conditions to the completion of these arrangements; the success of our deleveraging strategy; any impact or results from the Company’s portfolio transition or any change in strategy; and the finalization of the financial statements for the period ended June 30, 2017. For additional factors that could cause the results of the Company to differ materially from these indicated in the forward-looking statements, please refer to the Company’s Form 10-K for the year ended December 31, 2016. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For immediate release:

DDR REPORTS SECOND QUARTER 2017 OPERATING RESULTS

BEACHWOOD, OHIO, July 26, 2017 – DDR Corp. (NYSE: DDR) today announced operating results for the quarter ended June 30, 2017.

“Our second quarter results were characterized by strong financial and operational execution. We made progress reducing leverage and lengthening our average debt maturity by selling assets and accessing the capital markets. Our operations were ahead of plan and we completed our portfolio review and strategic planning process over a compressed time-period. I am excited about continuing to execute on these plans, which should position the company for strong future growth,” commented David R. Lukes, president and chief executive officer.

Financial Highlights

| ● |  | Second quarter net income attributable to common shareholders was $23.2 million, or $0.06 per diluted share, as compared to net income of $35.5 million, or $0.10 per diluted share, in the year ago-period. The year-over-year decline in net income attributable to common shareholders is primarily attributable to impairment charges aggregating $28.1 million recorded on one shopping center and two parcels of undeveloped land.

| ● |  | Second quarter operating funds from operations attributable to common shareholders (“Operating FFO” or “OFFO”) was $108.8 million, or $0.30 per diluted share, compared to $122.4 million, or $0.33 per diluted share in the year ago-period. The year-over-year decrease in OFFO is primarily attributable to the dilutive impact of deleveraging asset sales.

Significant Second Quarter Activity

Asset Sales

| ● |  | Generated total asset sales and loan repayment proceeds of $237.5 million, totaling $225.7 million at DDR’s share

| ● |  | Sold two shopping centers in Puerto Rico for an aggregate sales price of $57.3 million

| ● |  | Sold nine shopping centers in the U.S. for an aggregate sales price of $149.2 million, totaling $137.5 million at DDR’s share

Capital Markets and Investments

| ● |  | Issued $450 million aggregate principal amount of 4.700% senior unsecured notes due 2027

| ● |  | Issued $175 million aggregate principal amount of 6.375% Class A Cumulative Redeemable Preferred Shares

| ● |  | Repaid in July 2017, $300 million 4.75% senior unsecured notes due April 2018

| ● |  | Recapitalized the DDR Domestic Retail Fund I joint venture which included a new $707 million mortgage loan on 52 assets to repay all of the joint venture’s outstanding mortgage debt

Key Operating Results

| ● |  | Reported a decrease in same store net operating income, including Puerto Rico, of -0.1% on a pro rata basis; and excluding Puerto Rico, same store net operating income was flat on a pro rata basis; presentation has been adjusted to include bad debt expense on a comparable basis

| ● |  | Executed 258 new leases and renewals for 1.9 million square feet

| ● |  | Generated new leasing spreads of 10.0% and renewal leasing spreads of 5.7%, both on a pro rata basis and including Puerto Rico for the quarter, and new leasing spreads of 10.4% and renewal leasing spreads of 6.5%, both on a pro rata basis and including Puerto Rico for the trailing twelve-month period

| ● |  | Reported a portfolio leased rate of 93.7% at June 30, 2017, compared to 96.1% at June 30, 2016, on a pro rata basis

| ● |  | Annualized base rent per occupied square foot on a pro rata basis was $16.09 at June 30, 2017, compared to $14.92 at June 30, 2016

1

Other Significant Activity

| ● |  | Completed the previously announced portfolio review and strategic planning process.

| ● |  | As a result of a full portfolio review and subsequent decision on asset sales, the Company recorded impairment charges on one shopping center and two parcels of undeveloped land aggregating $28.1 million in the second quarter.

Guidance

The Company’s 2017 operating assumptions remain as follows:

| ● |  | Expected annual growth in same store net operating income range as follows:

|  |  |  | DDR Share |  |
|  | U.S. Portfolio |  | (1.0%) – 0.5% |  |
|  | Total Portfolio |  | (1.5%) – 0.0% |  |

| ● |  | Expected leased rate at year end of 93.0% to 93.5%

| ● |  | Expected General and Administrative expenses of $72 million to $75 million

| ● |  | Expected Fee income of $30 million to $33 million

| ● |  | Expected Interest income of $26 million to $29 million

| ● |  | Expected redevelopment activity placed in service of $80 million (approximately $40 million of incremental same store NOI) weighted towards the second half of the year at high single-digit yields

About DDR Corp.

DDR is an owner and manager of 298 value-oriented shopping centers representing 100 million square feet in 34 states and Puerto Rico. The Company owns a high-quality portfolio of open-air shopping centers in major metropolitan areas that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. The Company actively manages its assets with a focus on creating long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR. Additional information about the Company is available at www.ddr.com.

Conference Call and Supplemental Information

The Company will hold its quarterly conference call today at 8:30 a.m. Eastern Time. To participate with access to the slide presentation, please visit the Investors portion of DDR’s website, www.ddr.com/events, or for audio only, dial 877-249-1119 (U.S.), 855-669-9657 (Canada) or 412-542-4143 (international) at least ten minutes prior to the scheduled start of the call. A replay of the conference call will also be available at www.ddr.com/events for one year after the call. A copy of the Company’s Supplemental package is available on the Company’s website at www.ddr.com.

Non-GAAP Measures

FFO is a supplemental non-GAAP financial measure used as a standard in the real estate industry and is a widely accepted measure of real estate investment trust (“REIT”) performance. Management believes that both FFO and Operating FFO provide additional indicators of the financial performance of a REIT. The Company also believes that FFO and Operating FFO more appropriately measure the core operations of the Company and provide benchmarks to its peer group.

FFO is generally defined and calculated by the Company as net income (loss), adjusted to exclude: (i) preferred share dividends, (ii) gains and losses from disposition of depreciable real estate property and related investments, which are presented net of taxes, (iii) impairment charges on depreciable real estate property and related investments and (iv) certain non-cash items. These non-cash items principally include real property depreciation and amortization of intangibles, equity income (loss) from joint ventures and equity income (loss) from non-controlling interests and adding the Company’s proportionate share of FFO from its unconsolidated joint ventures and non-controlling interests, determined on a consistent basis. The Company’s calculation of FFO is consistent with the NAREIT definition. The Company calculates Operating FFO by excluding certain non-operating charges and gains. Operating FFO is useful to investors as the Company removes non-comparable charges and gains to analyze the results of its operations and assess performance of the core operating real estate portfolio. Other real estate companies may calculate FFO and Operating FFO in a different manner.

The Company also uses net operating income (“NOI”), a non-GAAP financial measure, as a supplemental performance measure. NOI is calculated as property revenues less property-related expenses. The Company believes NOI provides useful information to investors regarding the Company’s financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level and, when compared across periods, reflects the impact on operations from trends in occupancy rates, rental rates, operating costs and acquisition and disposition activity on an unleveraged basis.

2

The Company presents NOI information herein on a same store basis or “SSNOI.” The Company defines SSNOI as property revenues less property-related expenses, which exclude straight-line rental income and expenses, lease termination income, management fee expense, fair market value of leases and expense recovery adjustments. The Company presents SSNOI both with and without provisions for uncollectible amounts and/or recoveries thereof. In addition, the Company presents SSNOI both with and without the results of its Puerto Rico portfolio. SSNOI also excludes activity associated with development and major redevelopment and single tenant assets and includes assets owned in comparable periods (15 months for quarter comparisons). SSNOI excludes all non-property and corporate level revenue and expenses. Other real estate companies may calculate NOI and SSNOI in a different manner. The Company believes SSNOI provides investors with additional information regarding the operating performances of comparable assets because it excludes certain non-cash and non-comparable items as noted above.

FFO, Operating FFO, NOI and SSNOI do not represent cash generated from operating activities in accordance with GAAP, are not necessarily indicative of cash available to fund cash needs and should not be considered as alternatives to net income computed in accordance with GAAP as indicators of the Company’s operating performance or as alternatives to cash flow as a measure of liquidity. Reconciliations of these non-GAAP measures to their most directly comparable GAAP measures are included in this release and the accompanying financial supplement.

Safe Harbor

DDR Corp. considers portions of the information in this press release to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Company’s expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially from those indicated by such forward-looking statements, including, among other factors, local conditions such as supply of space or a reduction in demand for real estate in the area; competition from other available space; dependence on rental income from real property; the loss of, significant downsizing of or bankruptcy of a major tenant; redevelopment and construction activities may not achieve a desired return on investment; our ability to buy or sell assets on commercially reasonable terms; our ability to complete acquisitions or dispositions of assets under contract; our ability to secure equity or debt financing on commercially acceptable terms or at all; our ability to enter into definitive agreements with regard to our financing and joint venture arrangements or our failure to satisfy conditions to the completion of these arrangements; the success of our deleveraging strategy; any impact or results from the Company’s portfolio transition or any change in strategy; and the finalization of the financial statements for the period ended June 30, 2017. For additional factors that could cause the results of the Company to differ materially from those indicated in the forward-looking statements, please refer to the Company’s Form 10-K for the year ended December 31, 2016. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

3

DDR Corp.

Income Statement: Consolidated Interests

|  | $ in thousands, except per share |  |  |  |  |  |  |  |
|  |  |  | 2Q17 |  |  | 2Q16 |  |  | 6M17 |  |  | 6M16 |
|  | Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Minimum rents (1) |  |  | $164,623 |  |  |  | $178,064 |  |  |  | $331,852 |  |  |  | $355,431 |
|  | Percentage rent |  |  | 1,823 |  |  |  | 1,654 |  |  |  | 3,522 |  |  |  | 3,590 |
|  | Recoveries |  |  | 55,633 |  |  |  | 61,376 |  |  |  | 113,109 |  |  |  | 122,975 |
|  | Other property revenues (2) |  |  | 5,321 |  |  |  | 4,762 |  |  |  | 9,899 |  |  |  | 10,105 |
|  |  |  |  | 227,400 |  |  |  | 245,856 |  |  |  | 458,382 |  |  |  | 492,101 |
|  | Expenses (3): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Operating and maintenance |  |  | 32,150 |  |  |  | 35,330 |  |  |  | 65,141 |  |  |  | 72,588 |
|  | Real estate taxes |  |  | 33,744 |  |  |  | 36,534 |  |  |  | 68,073 |  |  |  | 72,318 |
|  |  |  |  | 65,894 |  |  |  | 71,864 |  |  |  | 133,214 |  |  |  | 144,906 |
|  | Net operating income |  |  | 161,506 |  |  |  | 173,992 |  |  |  | 325,168 |  |  |  | 347,195 |
|  | Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Fee income |  |  | 8,787 |  |  |  | 11,465 |  |  |  | 18,226 |  |  |  | 19,643 |
|  | Interest income |  |  | 7,166 |  |  |  | 9,446 |  |  |  | 15,558 |  |  |  | 18,496 |
|  | Interest expense |  |  | (48,908) |  |  |  | (54,012) |  |  |  | (100,735) |  |  |  | (111,909) |
|  | Depreciation and amortization |  |  | (90,276) |  |  |  | (97,698) |  |  |  | (181,160) |  |  |  | (194,600) |
|  | General and administrative (4) |  |  | (22,756) |  |  |  | (18,499) |  |  |  | (53,828) |  |  |  | (36,375) |
|  | Other income (expense), net |  |  | (954) |  |  |  | 2,081 |  |  |  | (958) |  |  |  | 3,854 |
|  | Impairment charges |  |  | (28,096) |  |  |  | 0 |  |  |  | (50,069) |  |  |  | 0 |
|  | (Loss) income before earnings from JVs and other |  |  | (13,531) |  |  |  | 26,775 |  |  |  | (27,798) |  |  |  | 46,304 |
|  | Equity in net (loss) income of JVs |  |  | (717) |  |  |  | 1,117 |  |  |  | (2,382) |  |  |  | 15,538 |
|  | Reserve of preferred equity interests |  |  | 0 |  |  |  | 0 |  |  |  | (76,000) |  |  |  | 0 |
|  | Tax expense |  |  | (473) |  |  |  | (245) |  |  |  | (696) |  |  |  | (703) |
|  | Gain on disposition of real estate, net |  |  | 44,599 |  |  |  | 13,721 |  |  |  | 82,726 |  |  |  | 26,102 |
|  | Net income (loss) |  |  | 29,878 |  |  |  | 41,368 |  |  |  | (24,150) |  |  |  | 87,241 |
|  | Non-controlling interests |  |  | (267) |  |  |  | (310) |  |  |  | (480) |  |  |  | (610) |
|  | Net income (loss) DDR |  |  | 29,611 |  |  |  | 41,058 |  |  |  | (24,630) |  |  |  | 86,631 |
|  | Preferred dividends |  |  | (6,399) |  |  |  | (5,594) |  |  |  | (11,993) |  |  |  | (11,188) |
|  | Net income (loss) Common Shareholders |  |  | $23,212 |  |  |  | $35,464 |  |  |  | ($36,623) |  |  |  | $75,443 |
|  | Weighted average shares – Basic – EPS |  |  | 366,987 |  |  |  | 364,976 |  |  |  | 366,710 |  |  |  | 364,834 |
|  | Assumed conversion of dilutive securities |  |  | 43 |  |  |  | 342 |  |  |  | 0 |  |  |  | 346 |
|  | Weighted average shares – Diluted – EPS |  |  | 367,030 |  |  |  | 365,318 |  |  |  | 366,710 |  |  |  | 365,180 |
|  | Earnings per common share – Basic & Diluted |  |  | $0.06 |  |  |  | $0.10 |  |  |  | ($0.10) |  |  |  | $0.21 |
|  | Revenue items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) |  | Ground lease revenue |  |  | $10,796 |  |  |  | $10,240 |  |  |  | $21,688 |  |  |  | $20,340 |
(2) |  | Lease termination fees |  |  | 630 |  |  |  | 216 |  |  |  | 808 |  |  |  | 1,445 |
(3) |  | Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Recoverable expenses |  |  | (60,237) |  |  |  | (65,031) |  |  |  | (122,354) |  |  |  | (131,147) |
|  | Non-recoverable expenses |  |  | (5,325) |  |  |  | (5,633) |  |  |  | (9,604) |  |  |  | (11,532) |
|  | Bad debt expense |  |  | (332) |  |  |  | (1,200) |  |  |  | (1,256) |  |  |  | (2,227) |
(4) |  | General and administrative expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Separation charges |  |  | (5,081) |  |  |  | 0 |  |  |  | (16,552) |  |  |  | 0 |
|  | Internal leasing expenses |  |  | (1,258) |  |  |  | (1,979) |  |  |  | (2,850) |  |  |  | (4,061) |
|  | Construction administrative costs (capitalized) |  |  | 1,830 |  |  |  | 1,948 |  |  |  | 4,218 |  |  |  | 3,900 |

4

DDR Corp.

Reconciliation: Net Income (Loss) to FFO and Operating FFO

and Other Financial Information

$ in thousands, except per share |  |  |  |  |  |  |  |
|  | 2Q17 |  |  | 2Q16 |  |  | 6M17 |  |  | 6M16 |
Net income (loss) attributable to Common Shareholders |  |  | $23,212 |  |  |  | $35,464 |  |  |  | ($36,623) |  |  |  | $75,443 |
Depreciation and amortization of real estate |  |  | 88,423 |  |  |  | 95,626 |  |  |  | 177,073 |  |  |  | 190,480 |
Equity in net loss (income) of JVs |  |  | 717 |  |  |  | (1,117) |  |  |  | 2,382 |  |  |  | (15,538) |
JVs’ FFO |  |  | 6,212 |  |  |  | 6,426 |  |  |  | 12,794 |  |  |  | 12,576 |
Non-controlling interests |  |  | 76 |  |  |  | 76 |  |  |  | 152 |  |  |  | 152 |
Impairment of depreciable real estate |  |  | 19,010 |  |  |  | 0 |  |  |  | 40,982 |  |  |  | 0 |
Gain on disposition of depreciable real estate, net |  |  | (44,525) |  |  |  | (16,154) |  |  |  | (81,423) |  |  |  | (28,250) |
FFO attributable to Common Shareholders |  |  | $93,125 |  |  |  | $120,321 |  |  |  | $115,337 |  |  |  | $234,863 |
Reserve of preferred equity interests |  |  | 0 |  |  |  | 0 |  |  |  | 76,000 |  |  |  | 0 |
Impairment charges |  |  | 9,086 |  |  |  | 0 |  |  |  | 9,086 |  |  |  | 0 |
Separation charges |  |  | 5,081 |  |  |  | 0 |  |  |  | 16,552 |  |  |  | 0 |
Transaction, debt extinguishment, other, net |  |  | 948 |  |  |  | (333) |  |  |  | 947 |  |  |  | (361) |
Joint ventures - debt extinguishment, transaction, other |  |  | 604 |  |  |  | 20 |  |  |  | 684 |  |  |  | 20 |
(Gain) loss on disposition of non-depreciable real estate, net |  |  | (74) |  |  |  | 2,433 |  |  |  | (1,303) |  |  |  | 2,148 |
Total non-operating items, net |  |  | 15,645 |  |  |  | 2,120 |  |  |  | 101,966 |  |  |  | 1,807 |
Operating FFO attributable to Common Shareholders |  |  | $108,770 |  |  |  | $122,441 |  |  |  | $217,303 |  |  |  | $236,670 |
Weighted average shares and units – Basic – FFO & OFFO |  |  | 367,482 |  |  |  | 365,851 |  |  |  | 367,231 |  |  |  | 365,774 |
Assumed conversion of dilutive securities |  |  | 43 |  |  |  | 341 |  |  |  | 66 |  |  |  | 346 |
Weighted average shares and units – Diluted – FFO & OFFO |  |  | 367,525 |  |  |  | 366,192 |  |  |  | 367,297 |  |  |  | 366,120 |
FFO per share – Basic & Diluted |  |  | $0.25 |  |  |  | $0.33 |  |  |  | $0.31 |  |  |  | $0.64 |
Operating FFO per share – Basic & Diluted |  |  | $0.30 |  |  |  | $0.33 |  |  |  | $0.59 |  |  |  | $0.65 |
Common stock dividends declared, per share |  |  | $0.19 |  |  |  | $0.19 |  |  |  | $0.38 |  |  |  | $0.38 |
Certain non-cash items (DDR share): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Straight-line rent, net |  |  | $223 |  |  |  | $1,298 |  |  |  | $657 |  |  |  | $2,653 |
Amortization of (above)/below-market rent, net |  |  | 4,383 |  |  |  | 1,159 |  |  |  | 8,233 |  |  |  | 1,556 |
Straight-line ground rent income (expense) |  |  | (53) |  |  |  | (182) |  |  |  | 216 |  |  |  | (276) |
Debt fair value and loan cost amortization |  |  | (1,131) |  |  |  | (561) |  |  |  | (2,118) |  |  |  | (1,288) |
Capitalized interest expense |  |  | 478 |  |  |  | 703 |  |  |  | 876 |  |  |  | 1,947 |
Stock compensation expense |  |  | (1,584) |  |  |  | (1,690) |  |  |  | (3,492) |  |  |  | (3,298) |
Non-real estate depreciation expense |  |  | (1,807) |  |  |  | (2,024) |  |  |  | (3,942) |  |  |  | (4,025) |
Non-cash interest income |  |  | 0 |  |  |  | 1,954 |  |  |  | 1,283 |  |  |  | 3,899 |
Capital expenditures (DDR share): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Development and redevelopment costs |  |  | 14,041 |  |  |  | 26,415 |  |  |  | 29,965 |  |  |  | 50,887 |
Maintenance capital expenditures |  |  | 3,200 |  |  |  | 6,031 |  |  |  | 4,024 |  |  |  | 7,048 |
Tenant allowances and landlord work |  |  | 7,007 |  |  |  | 6,635 |  |  |  | 19,083 |  |  |  | 14,091 |
Leasing commissions |  |  | 739 |  |  |  | 1,251 |  |  |  | 1,377 |  |  |  | 2,155 |

5

DDR Corp.

Balance Sheet: Consolidated Interests

|  | $ in thousands |  |  |  |  |  |  |  |
|  |  |  | At Period End |
|  |  |  | 2Q17 |  |  | 4Q16 |
|  | Assets: |  |  |  |  |  |  |  |
|  | Land |  |  | $1,938,589 |  |  |  | $1,990,406 |
|  | Buildings |  |  | 6,193,366 |  |  |  | 6,412,532 |
|  | Fixtures and tenant improvements |  |  | 726,721 |  |  |  | 735,685 |
|  |  |  |  | 8,858,676 |  |  |  | 9,138,623 |
|  | Depreciation |  |  | (2,001,376) |  |  |  | (1,996,176) |
|  |  |  |  | 6,857,300 |  |  |  | 7,142,447 |
|  | Construction in progress and land |  |  | 113,543 |  |  |  | 105,435 |
|  | Real estate, net |  |  | 6,970,843 |  |  |  | 7,247,882 |
|  | Investments in JVs |  |  | 117,304 |  |  |  | 60,793 |
|  | Receivable – preferred equity interests, net |  |  | 318,181 |  |  |  | 393,338 |
|  | Cash |  |  | 414,074 |  |  |  | 30,430 |
|  | Restricted cash |  |  | 61,462 |  |  |  | 8,795 |
|  | Notes receivable, net |  |  | 19,590 |  |  |  | 49,503 |
|  | Receivables, net (1) |  |  | 114,449 |  |  |  | 121,367 |
|  | Intangible assets, net |  |  | 216,602 |  |  |  | 241,598 |
|  | Other assets, net |  |  | 37,533 |  |  |  | 43,812 |
|  | Total Assets |  |  | 8,270,038 |  |  |  | 8,197,518 |
|  | Liabilities and Equity: |  |  |  |  |  |  |  |
|  | Unsecured debt |  |  | 3,060,345 |  |  |  | 2,913,217 |
|  | Unsecured term loan |  |  | 398,316 |  |  |  | 398,399 |
|  | Secured debt |  |  | 1,108,005 |  |  |  | 1,182,352 |
|  |  |  |  | 4,566,666 |  |  |  | 4,493,968 |
|  | Dividends payable |  |  | 76,744 |  |  |  | 75,245 |
|  | Other liabilities (2) |  |  | 368,412 |  |  |  | 382,293 |
|  | Total Liabilities |  |  | 5,011,822 |  |  |  | 4,951,506 |
|  | Preferred shares |  |  | 525,000 |  |  |  | 350,000 |
|  | Common shares |  |  | 36,715 |  |  |  | 36,630 |
|  | Paid-in capital |  |  | 5,499,103 |  |  |  | 5,487,212 |
|  | Distributions in excess of net income |  |  | (2,809,110) |  |  |  | (2,632,327) |
|  | Deferred compensation |  |  | 10,254 |  |  |  | 15,149 |
|  | Other comprehensive income |  |  | (2,632) |  |  |  | (4,192) |
|  | Common shares in treasury at cost |  |  | (9,816) |  |  |  | (14,957) |
|  | Non-controlling interests |  |  | 8,702 |  |  |  | 8,497 |
|  | Total Equity |  |  | 3,258,216 |  |  |  | 3,246,012 |
|  | Total Liabilities and Equity |  |  | $8,270,038 |  |  |  | $8,197,518 |
(1) |  | Straight-line rents receivable, net |  |  | $63,209 |  |  |  | $65,072 |
(2) |  | Below-market leases, net |  |  | 136,638 |  |  |  | 147,941 |

6

DDR Corp.

Reconciliation of Net Income Attributable to DDR to Same Store NOI (1)

$ in thousands |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | At DDR Share (Non-GAAP) |
|  | 2Q17 |  |  | 2Q16 |  |  | 2Q17 |  |  | 2Q16 |
GAAP Reconciliation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to DDR |  |  | $29,611 |  |  |  | $41,058 |  |  |  | $29,611 |  |  |  | $41,058 |
Fee income |  |  | (8,787) |  |  |  | (11,465) |  |  |  | (8,787) |  |  |  | (11,465) |
Interest income |  |  | (7,166) |  |  |  | (9,446) |  |  |  | (7,166) |  |  |  | (9,446) |
Interest expense |  |  | 48,908 |  |  |  | 54,012 |  |  |  | 48,908 |  |  |  | 54,012 |
Depreciation and amortization |  |  | 90,276 |  |  |  | 97,698 |  |  |  | 90,276 |  |  |  | 97,698 |
General and administrative |  |  | 22,756 |  |  |  | 18,499 |  |  |  | 22,756 |  |  |  | 18,499 |
Other expense |  |  | 954 |  |  |  | (2,081) |  |  |  | 954 |  |  |  | (2,081) |
Impairment charges |  |  | 28,096 |  |  |  | 0 |  |  |  | 28,096 |  |  |  | 0 |
Equity in net loss (income) of joint ventures |  |  | 717 |  |  |  | (1,117) |  |  |  | 717 |  |  |  | (1,117) |
Reserve of preferred equity interests |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Tax expense |  |  | 473 |  |  |  | 245 |  |  |  | 473 |  |  |  | 245 |
Gain on disposition of real estate |  |  | (44,599) |  |  |  | (13,721) |  |  |  | (44,599) |  |  |  | (13,721) |
Income from non-controlling interests |  |  | 267 |  |  |  | 310 |  |  |  | 267 |  |  |  | 310 |
Consolidated NOI |  |  | 161,506 |  |  |  | 173,992 |  |  |  | 161,506 |  |  |  | 173,992 |
DDR’s consolidated JV |  |  | 0 |  |  |  | 0 |  |  |  | (396) |  |  |  | (454) |
Consolidated NOI, net of non-controlling interests |  |  | 161,506 |  |  |  | 173,992 |  |  |  | 161,110 |  |  |  | 173,538 |
Net (loss) income from unconsolidated joint ventures |  |  | (33,702) |  |  |  | (4,933) |  |  |  | (1,163) |  |  |  | 714 |
Interest expense |  |  | 29,004 |  |  |  | 33,319 |  |  |  | 4,606 |  |  |  | 5,278 |
Depreciation and amortization |  |  | 47,589 |  |  |  | 49,021 |  |  |  | 5,747 |  |  |  | 5,635 |
Impairment charges |  |  | 27,850 |  |  |  | 0 |  |  |  | 1,392 |  |  |  | 0 |
Preferred share expense |  |  | 8,239 |  |  |  | 8,305 |  |  |  | 412 |  |  |  | 415 |
Other expense, net |  |  | 9,054 |  |  |  | 6,319 |  |  |  | 1,611 |  |  |  | 1,011 |
Loss (gain) on disposition of real estate, net |  |  | 803 |  |  |  | (114) |  |  |  | 40 |  |  |  | (22) |
Unconsolidated NOI |  |  | 88,837 |  |  |  | 91,917 |  |  |  | 12,645 |  |  |  | 13,031 |
Total Consolidated + Unconsolidated NOI |  |  | 250,343 |  |  |  | 265,909 |  |  |  | 173,755 |  |  |  | 186,569 |
Less: Non-Same Store NOI adjustments |  |  | (16,787) |  |  |  | (32,167) |  |  |  | (16,533) |  |  |  | (29,157) |
Total SSNOI (including Puerto Rico and bad debt expense) |  |  | $233,556 |  |  |  | $233,742 |  |  |  | $157,222 |  |  |  | $157,412 |
Less: Puerto Rico Same Store NOI |  |  | (20,562) |  |  |  | (20,776) |  |  |  | (20,562) |  |  |  | (20,776) |
Total SSNOI excluding Puerto Rico (including bad debt expense) |  |  | $212,994 |  |  |  | $212,966 |  |  |  | $136,660 |  |  |  | $136,636 |
Add: bad debt expense |  |  | 1,262 |  |  |  | 1,729 |  |  |  | 856 |  |  |  | 1,250 |
Total SSNOI (excluding bad debt expense) |  |  | $234,818 |  |  |  | $235,471 |  |  |  | $158,078 |  |  |  | $158,662 |
SSNOI % Change (including Puerto Rico and bad debt expense) |  |  | (0.1%) |  |  |  |  |  |  |  | (0.1%) |  |  |  |  |
SSNOI % Change excluding Puerto Rico |  |  | 0.0% |  |  |  |  |  |  |  | 0.0% |  |  |  |  |
SSNOI % Change (excluding bad debt expense) |  |  | (0.3%) |  |  |  |  |  |  |  | (0.4%) |  |  |  |  |

(1) Excludes major redevelopment activity; see Investments section for additional detail. See calculation definition in the Non-GAAP Measures section.

7

DDR Corp.

Portfolio Summary

GLA in thousands |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 06/30/17 |  |  | 03/31/17 |  |  | 12/31/16 |  |  | 09/30/16 |  |  | 06/30/16 |
Shopping Center Summary |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating Centers - 100% |  |  | 298 |  |  |  | 309 |  |  |  | 319 |  |  |  | 327 |  |  |  | 349 |
Wholly Owned - Domestic |  |  | 136 |  |  |  | 144 |  |  |  | 153 |  |  |  | 157 |  |  |  | 177 |
Wholly Owned - Puerto Rico |  |  | 12 |  |  |  | 14 |  |  |  | 14 |  |  |  | 14 |  |  |  | 14 |
JV Portfolio |  |  | 150 |  |  |  | 151 |  |  |  | 152 |  |  |  | 156 |  |  |  | 158 |
Owned and Ground Lease GLA - 100% |  |  | 72,686 |  |  |  | 74,400 |  |  |  | 75,815 |  |  |  | 76,631 |  |  |  | 81,147 |
Owned and Ground Lease GLA - DDR Share |  |  | 48,053 |  |  |  | 49,633 |  |  |  | 50,983 |  |  |  | 51,508 |  |  |  | 55,988 |
Wholly Owned - Domestic |  |  | 39,307 |  |  |  | 40,515 |  |  |  | 41,871 |  |  |  | 42,380 |  |  |  | 46,857 |
Wholly Owned - Puerto Rico |  |  | 4,441 |  |  |  | 4,807 |  |  |  | 4,807 |  |  |  | 4,807 |  |  |  | 4,807 |
JV Portfolio - 100% |  |  | 28,938 |  |  |  | 29,078 |  |  |  | 29,137 |  |  |  | 29,444 |  |  |  | 29,483 |
JV Portfolio - DDR Share |  |  | 4,305 |  |  |  | 4,311 |  |  |  | 4,305 |  |  |  | 4,321 |  |  |  | 4,324 |
Unowned GLA - 100% |  |  | 27,352 |  |  |  | 28,586 |  |  |  | 29,933 |  |  |  | 30,622 |  |  |  | 31,390 |
Quarterly Operational Overview |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DDR Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  |  | $16.09 |  |  |  | $15.83 |  |  |  | $15.46 |  |  |  | $15.36 |  |  |  | $14.92 |
Base Rent PSF < 10K |  |  | $26.72 |  |  |  | $26.43 |  |  |  | $26.16 |  |  |  | $26.05 |  |  |  | $25.53 |
Base Rent PSF > 10K |  |  | $13.01 |  |  |  | $12.83 |  |  |  | $12.49 |  |  |  | $12.39 |  |  |  | $12.08 |
Leased Rate |  |  | 93.7% |  |  |  | 94.3% |  |  |  | 95.0% |  |  |  | 95.4% |  |  |  | 96.1% |
Commenced Rate |  |  | 91.5% |  |  |  | 92.5% |  |  |  | 93.8% |  |  |  | 93.9% |  |  |  | 94.4% |
Leased Rate < 10K SF |  |  | 87.9% |  |  |  | 88.3% |  |  |  | 89.4% |  |  |  | 89.9% |  |  |  | 89.6% |
Leased Rate > 10K SF |  |  | 95.4% |  |  |  | 96.2% |  |  |  | 96.6% |  |  |  | 97.0% |  |  |  | 98.1% |
Wholly Owned Domestic (100%) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  |  | $15.79 |  |  |  | $15.49 |  |  |  | $15.04 |  |  |  | $15.01 |  |  |  | $14.50 |
Leased Rate |  |  | 94.0% |  |  |  | 94.7% |  |  |  | 95.2% |  |  |  | 95.7% |  |  |  | 96.6% |
Leased Rate < 10K SF |  |  | 89.4% |  |  |  | 89.5% |  |  |  | 90.5% |  |  |  | 91.2% |  |  |  | 90.4% |
Leased Rate > 10K SF |  |  | 95.3% |  |  |  | 96.2% |  |  |  | 96.5% |  |  |  | 97.0% |  |  |  | 98.3% |
Wholly Owned Puerto Rico (100%) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  |  | $20.82 |  |  |  | $20.31 |  |  |  | $20.59 |  |  |  | $19.69 |  |  |  | $19.93 |
Leased Rate |  |  | 90.4% |  |  |  | 90.9% |  |  |  | 92.6% |  |  |  | 92.6% |  |  |  | 92.8% |
Leased Rate < 10K SF |  |  | 80.5% |  |  |  | 82.0% |  |  |  | 83.6% |  |  |  | 83.3% |  |  |  | 84.2% |
Leased Rate > 10K SF |  |  | 95.1% |  |  |  | 95.1% |  |  |  | 96.8% |  |  |  | 96.8% |  |  |  | 96.8% |
Joint Venture DDR Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  |  | $14.71 |  |  |  | $14.63 |  |  |  | $14.62 |  |  |  | $14.56 |  |  |  | $14.55 |
Leased Rate |  |  | 93.8% |  |  |  | 94.6% |  |  |  | 95.4% |  |  |  | 94.9% |  |  |  | 94.9% |
Leased Rate < 10K SF |  |  | 86.2% |  |  |  | 87.7% |  |  |  | 88.3% |  |  |  | 88.0% |  |  |  | 89.1% |
Leased Rate > 10K SF |  |  | 96.6% |  |  |  | 97.2% |  |  |  | 98.1% |  |  |  | 97.5% |  |  |  | 97.0% |
DDR (100%) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  |  | $15.46 |  |  |  | $15.27 |  |  |  | $15.00 |  |  |  | $14.92 |  |  |  | $14.63 |
Base Rent PSF < 10K |  |  | $25.39 |  |  |  | $25.18 |  |  |  | $24.95 |  |  |  | $24.84 |  |  |  | $24.43 |
Base Rent PSF > 10K |  |  | $12.54 |  |  |  | $12.41 |  |  |  | $12.17 |  |  |  | $12.09 |  |  |  | $11.90 |
Leased Rate |  |  | 93.7% |  |  |  | 94.4% |  |  |  | 95.0% |  |  |  | 95.1% |  |  |  | 95.7% |
Commenced Rate |  |  | 91.7% |  |  |  | 92.6% |  |  |  | 93.6% |  |  |  | 93.8% |  |  |  | 94.1% |
Leased Rate < 10K SF |  |  | 87.6% |  |  |  | 88.1% |  |  |  | 88.9% |  |  |  | 89.1% |  |  |  | 89.1% |
Leased Rate > 10K SF |  |  | 95.7% |  |  |  | 96.4% |  |  |  | 96.9% |  |  |  | 97.0% |  |  |  | 97.7% |
Joint Venture (100%) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  |  | $14.34 |  |  |  | $14.26 |  |  |  | $14.17 |  |  |  | $14.10 |  |  |  | $14.09 |
Leased Rate |  |  | 93.9% |  |  |  | 94.7% |  |  |  | 95.2% |  |  |  | 94.7% |  |  |  | 94.6% |
Leased Rate < 10K SF |  |  | 86.9% |  |  |  | 87.8% |  |  |  | 87.9% |  |  |  | 87.6% |  |  |  | 88.4% |
Leased Rate > 10K SF |  |  | 96.2% |  |  |  | 96.9% |  |  |  | 97.6% |  |  |  | 97.1% |  |  |  | 96.7% |
Operational Statistics |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
% of Aggregate Property NOI - Wholly Owned - Domestic - DDR Share |  |  | 79.3% |  |  |  | 78.3% |  |  |  | 79.5% |  |  |  | 80.0% |  |  |  | 80.9% |
% of Aggregate Property NOI - Wholly Owned - Puerto Rico - DDR Share |  |  | 12.4% |  |  |  | 13.6% |  |  |  | 12.7% |  |  |  | 12.3% |  |  |  | 11.8% |
% of Aggregate Property NOI - Joint Venture - DDR Share |  |  | 8.3% |  |  |  | 8.1% |  |  |  | 7.8% |  |  |  | 7.7% |  |  |  | 7.3% |
Same Store NOI |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DDR Share |  |  | -0.1% |  |  |  | -0.1% |  |  |  | 2.0% |  |  |  | 3.4% |  |  |  | 3.1% |
Wholly Owned - Domestic |  |  | 0.1% |  |  |  | 0.3% |  |  |  | 1.7% |  |  |  | 3.3% |  |  |  | 3.1% |
Wholly Owned - Puerto Rico |  |  | -1.0% |  |  |  | -3.3% |  |  |  | -1.1% |  |  |  | 2.1% |  |  |  | -0.5% |
JV Portfolio at DDR Share |  |  | -1.1% |  |  |  | 2.2% |  |  |  | 5.2% |  |  |  | 4.2% |  |  |  | 3.9% |
DDR - 100% |  |  | -0.1% |  |  |  | 0.5% |  |  |  | 2.8% |  |  |  | 3.3% |  |  |  | 2.7% |
TTM Total Leasing - DDR Share (000s) |  |  | 6,710 |  |  |  | 6,175 |  |  |  | 5,848 |  |  |  | 6,057 |  |  |  | 6,160 |
TTM Blended New and Renewal Rent Spreads - DDR Share |  |  | 6.9% |  |  |  | 7.8% |  |  |  | 9.1% |  |  |  | 9.7% |  |  |  | 9.3% |

8

DDR Corp.

Capital Structure

$, shares and units in thousands, except per share |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | June 30, 2017 |  |  |  |  | June 30, 2016 |
Capital Structure |  | Amount |  |  | % of Total |  |  |  |  | Amount |  |  | % of Total |
Common Shares Equity |  |  | $3,333,613 |  |  |  | 38% |  |  |  |  |  | $6,637,440 |  |  |  | 54% |
Perpetual Preferred Stock – Class J |  |  | 200,000 |  |  |  | 2% |  |  |  |  |  | 200,000 |  |  |  | 2% |
Perpetual Preferred Stock – Class K |  |  | 150,000 |  |  |  | 2% |  |  |  |  |  | 150,000 |  |  |  | 1% |
Perpetual Preferred Stock - Class A |  |  | 175,000 |  |  |  | 2% |  |  |  |  |  | 0 |  |  |  | 0% |
Unsecured Credit Facilities |  |  | 0 |  |  |  | 0% |  |  |  |  |  | 265,000 |  |  |  | 2% |
Unsecured Term Loan |  |  | 400,000 |  |  |  | 5% |  |  |  |  |  | 400,000 |  |  |  | 3% |
Unsecured Public Debt |  |  | 3,076,797 |  |  |  | 35% |  |  |  |  |  | 2,926,756 |  |  |  | 24% |
Secured Term Loan |  |  | 200,000 |  |  |  | 2% |  |  |  |  |  | 200,000 |  |  |  | 2% |
DDR Share of Unconsolidated Debt |  |  | 359,281 |  |  |  | 4% |  |  |  |  |  | 425,284 |  |  |  | 3% |
Fixed Rate Mortgage Debt (excludes partners’ share) |  |  | 870,451 |  |  |  | 10% |  |  |  |  |  | 1,071,252 |  |  |  | 9% |
Variable Rate Mortgage Debt |  |  | 25,565 |  |  |  | 0% |  |  |  |  |  | 77,325 |  |  |  | 0% |
Total Debt |  |  | 4,932,094 |  |  |  | 56% |  |  |  |  |  | 5,365,617 |  |  |  | 43% |
Total |  |  | $8,790,707 |  |  |  | 100% |  |  |  |  |  | $12,353,057 |  |  |  | 100% |
Capital Structure Detail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common Shares Outstanding |  |  | 367,144 |  |  |  |  |  |  |  |  |  | 365,502 |  |  |  |  |
Operating Partnership Units |  |  | 399 |  |  |  |  |  |  |  |  |  | 399 |  |  |  |  |
Total Outstanding Common Shares |  |  | 367,543 |  |  |  |  |  |  |  |  |  | 365,901 |  |  |  |  |
Market Value per Share |  |  | $9.07 |  |  |  |  |  |  |  |  |  | $18.14 |  |  |  |  |
Common Shares Equity |  |  | $3,333,613 |  |  |  |  |  |  |  |  |  | $6,637,440 |  |  |  |  |
Partners’ Share of Consolidated Debt (excluded above) |  |  | $9,837 |  |  |  |  |  |  |  |  |  | $9,900 |  |  |  |  |
DDR Share of Unconsolidated Debt (included above) |  |  | $359,281 |  |  |  |  |  |  |  |  |  | $425,284 |  |  |  |  |
Debt/Adjusted EBITDA – Consolidated (1) |  |  | 6.2x |  |  |  |  |  |  |  |  |  | 6.7x |  |  |  |  |
Debt/Adjusted EBITDA – Pro Rata (1) |  |  | 6.5x |  |  |  |  |  |  |  |  |  | 7.0x |  |  |  |  |

Credit Ratings |  |  |  | Public Debt Covenants |  |  |  |  |
|  | Debt Rating |  | Outlook |  |  |  | Actual Covenant |  |  | Covenant Threshold
Moody’s |  | Baa2 |  | Negative |  | Total Debt to Real Estate Assets Ratio |  |  | 49% |  |  | £ 65%
S&P |  | BBB- |  | Stable |  | Secured Debt to Assets Ratio |  |  | 11% |  |  | £ 40%
Fitch |  | BBB- |  | Stable |  | Unencumbered Assets to Unsecured Debt |  |  | 197% |  |  | ³ 135%
|  |  |  |  |  | Fixed Charge Coverage Ratio |  |  | 2.7x |  |  | ³ 1.5x

(1) Excludes Perpetual Preferred Stock.

9

DDR Corp.

Same Store Metrics (1)

$ in thousands

|  | Same Store at 100% |  |  | Same Store at DDR Share |
|  | 2Q17 |  |  | 2Q16 |  |  | Change |  |  | 2Q17 |  |  | 2Q16 |  |  | Change |
Leased Rate |  |  | 93.7% |  |  |  | 95.5% |  |  |  | -1.8% |  |  |  | 93.6% |  |  |  | 96.0% |  |  |  | -2.4% |
Commenced Rate |  |  | 91.9% |  |  |  | 94.0% |  |  |  | -2.1% |  |  |  | 91.9% |  |  |  | 94.4% |  |  |  | -2.5% |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Base Rents |  |  | $242,337 |  |  |  | $241,281 |  |  |  | 0.4% |  |  |  | $161,969 |  |  |  | $161,284 |  |  |  | 0.4% |
Recoveries |  |  | 82,717 |  |  |  | 83,227 |  |  |  | -0.6% |  |  |  | 56,724 |  |  |  | 57,283 |  |  |  | -1.0% |
Other |  |  | 5,725 |  |  |  | 5,163 |  |  |  | 10.9% |  |  |  | 4,673 |  |  |  | 4,341 |  |  |  | 7.6% |
|  |  | 330,779 |  |  |  | 329,671 |  |  |  | 0.3% |  |  |  | 223,366 |  |  |  | 222,908 |  |  |  | 0.2% |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | (45,434 | ) |  |  | (45,313 | ) |  |  | 0.3% |  |  |  | (30,992 | ) |  |  | (30,781 | ) |  |  | 0.7% |
Real Estate Taxes |  |  | (50,527 | ) |  |  | (48,887 | ) |  |  | 3.4% |  |  |  | (34,296 | ) |  |  | (33,465 | ) |  |  | 2.5% |
Bad Debt Expense |  |  | (1,262 | ) |  |  | (1,729 | ) |  |  | -27.0% |  |  |  | (856 | ) |  |  | (1,250 | ) |  |  | -31.5% |
|  |  | (97,223 | ) |  |  | (95,929 | ) |  |  | 1.3% |  |  |  | (66,144 | ) |  |  | (65,496 | ) |  |  | 1.0% |
Total SSNOI including impact of bad debt expense |  |  | $233,556 |  |  |  | $233,742 |  |  |  | -0.1% |  |  |  | $157,222 |  |  |  | $157,412 |  |  |  | -0.1% |
Total SSNOI excluding impact of bad debt expense |  |  | $234,818 |  |  |  | $235,471 |  |  |  | -0.3% |  |  |  | $158,078 |  |  |  | $158,662 |  |  |  | -0.4% |
Less: Puerto Rico Same Store NOI (2) |  |  | (20,562 | ) |  |  | (20,776 | ) |  |  | -1.0% |  |  |  | (20,562 | ) |  |  | (20,776 | ) |  |  | -1.0% |
Total SSNOI excluding Puerto Rico |  |  | $212,994 |  |  |  | $212,966 |  |  |  | 0.0% |  |  |  | $136,660 |  |  |  | $136,636 |  |  |  | 0.0% |
Non-Same Store NOI (3) |  |  | 16,787 |  |  |  | 32,167 |  |  |  |  |  |  |  | 16,533 |  |  |  | 29,157 |  |  |  |  |
Total Consolidated + Unconsolidated NOI |  |  | $250,343 |  |  |  | $265,909 |  |  |  |  |  |  |  | $173,755 |  |  |  | $186,569 |  |  |  |  |

(1) See calculation definition in the Non-GAAP Measures section.

(2) Excludes management fees that are eliminated in consolidation.

(3) See Investments section for detail on major redevelopment activity. Includes results of single-tenant assets. Represents 9.5% of total NOI at DDR share.

10

DDR Corp.

Leasing Summary

At DDR share except for count; $ and GLA in thousands

Leasing Activity

|  | Comparable Pool |  |  |  |  |  | Total Pool |
|  |  |  |  |  |  |  | New |  |  | Prior |  |  |  |  |  | Wtd Avg |  |  |  |  |  |  |  |  |  |  |  | New |  |  | Wtd Avg |
|  | Count |  |  |  |  |  | Rent |  |  | Rent |  |  | Rent |  |  | Term |  |  |  |  |  | Count |  |  |  |  |  | Rent |  |  | Term |
|  | At 100% |  |  | GLA |  |  | PSF |  |  | PSF |  |  | Spread |  |  | (Years) |  |  |  |  |  | At 100% |  |  | GLA |  |  | PSF |  |  | (Years) |
New Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  | 28 |  |  |  | 147,505 |  |  |  | $15.16 |  |  |  | $13.78 |  |  |  | 10.0% |  |  |  | 9.2 |  |  |  |  |  |  |  | 73 |  |  |  | 410,093 |  |  |  | $16.29 |  |  |  | 9.7 |
1Q17 |  |  | 39 |  |  |  | 369,603 |  |  |  | 10.90 |  |  |  | 10.60 |  |  |  | 2.8% | (1) |  |  | 10.4 |  |  |  |  |  |  |  | 78 |  |  |  | 566,261 |  |  |  | 12.57 |  |  |  | 10.2 |
4Q16 |  |  | 37 |  |  |  | 117,938 |  |  |  | 18.12 |  |  |  | 15.86 |  |  |  | 14.2% |  |  |  | 7.8 |  |  |  |  |  |  |  | 73 |  |  |  | 198,564 |  |  |  | 18.03 |  |  |  | 8.1 |
3Q16 |  |  | 42 |  |  |  | 126,485 |  |  |  | 19.95 |  |  |  | 16.47 |  |  |  | 21.1% |  |  |  | 7.9 |  |  |  |  |  |  |  | 83 |  |  |  | 265,257 |  |  |  | 18.29 |  |  |  | 8.3 |
|  |  | 146 |  |  |  | 761,531 |  |  |  | $14.35 |  |  |  | $13.00 |  |  |  | 10.4% |  |  |  | 9.0 |  |  |  |  |  |  |  | 307 |  |  |  | 1,440,175 |  |  |  | $15.44 |  |  |  | 9.3 |
Renewals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  | 185 |  |  |  | 1,504,824 |  |  |  | $13.77 |  |  |  | $13.03 |  |  |  | 5.7% |  |  |  | 5.2 |  |  |  |  |  |  |  | 185 |  |  |  | 1,504,824 |  |  |  | $13.77 |  |  |  | 5.2 |
1Q17 |  |  | 207 |  |  |  | 1,188,089 |  |  |  | 16.07 |  |  |  | 15.12 |  |  |  | 6.3% |  |  |  | 4.8 |  |  |  |  |  |  |  | 207 |  |  |  | 1,188,089 |  |  |  | 16.07 |  |  |  | 4.8 |
4Q16 |  |  | 199 |  |  |  | 1,069,818 |  |  |  | 14.07 |  |  |  | 13.29 |  |  |  | 5.9% |  |  |  | 5.2 |  |  |  |  |  |  |  | 199 |  |  |  | 1,069,818 |  |  |  | 14.07 |  |  |  | 5.2 |
3Q16 |  |  | 227 |  |  |  | 1,507,262 |  |  |  | 14.52 |  |  |  | 13.44 |  |  |  | 8.0% |  |  |  | 5.6 |  |  |  |  |  |  |  | 227 |  |  |  | 1,507,262 |  |  |  | 14.52 |  |  |  | 5.6 |
|  |  | 818 |  |  |  | 5,269,993 |  |  |  | $14.56 |  |  |  | $13.67 |  |  |  | 6.5% |  |  |  | 5.2 |  |  |  |  |  |  |  | 818 |  |  |  | 5,269,993 |  |  |  | $14.56 |  |  |  | 5.2 |
New + Renewals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  | 213 |  |  |  | 1,652,329 |  |  |  | $13.89 |  |  |  | $13.10 |  |  |  | 6.0% |  |  |  | 5.6 |  |  |  |  |  |  |  | 258 |  |  |  | 1,914,917 |  |  |  | $14.31 |  |  |  | 6.3 |
1Q17 |  |  | 246 |  |  |  | 1,557,692 |  |  |  | 14.84 |  |  |  | 14.05 |  |  |  | 5.6% |  |  |  | 5.7 |  |  |  |  |  |  |  | 285 |  |  |  | 1,754,350 |  |  |  | 14.94 |  |  |  | 6.2 |
4Q16 |  |  | 236 |  |  |  | 1,187,756 |  |  |  | 14.48 |  |  |  | 13.55 |  |  |  | 6.9% |  |  |  | 5.5 |  |  |  |  |  |  |  | 272 |  |  |  | 1,268,382 |  |  |  | 14.69 |  |  |  | 5.6 |
3Q16 |  |  | 269 |  |  |  | 1,633,747 |  |  |  | 14.94 |  |  |  | 13.67 |  |  |  | 9.3% |  |  |  | 5.8 |  |  |  |  |  |  |  | 310 |  |  |  | 1,772,519 |  |  |  | 15.08 |  |  |  | 6.0 |
|  |  | 964 |  |  |  | 6,031,524 |  |  |  | $14.53 |  |  |  | $13.59 |  |  |  | 6.9% |  |  |  | 5.7 |  |  |  |  |  |  |  | 1,125 |  |  |  | 6,710,168 |  |  |  | $14.75 |  |  |  | 6.1 |
Net Effective Rents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Avg |  |  | TA |  |  | LL Work |  |  | Commission |  |  | Total |  |  | Net |  |  | Wtd Avg |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Rent |  |  | Capex |  |  | Capex |  |  | Capex |  |  | Capex |  |  | Effective |  |  | Term |  |  |  |  |  |  |
|  |  |  |  | GLA (2) |  |  | PSF |  |  | PSF |  |  | PSF |  |  | PSF |  |  | PSF |  |  | Rent PSF |  |  | (Years) |  |  |  |  |  |  |
New Leases (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  |  |  |  |  | 261,257 |  |  |  | $17.07 |  |  |  | $3.42 |  |  |  | $3.79 |  |  |  | $0.35 |  |  |  | $7.56 |  |  |  | $9.51 |  |  |  | 8.8 |  |  |  |  |  |  |  |  |
1Q17 |  |  |  |  |  |  | 411,594 |  |  |  | 12.67 |  |  |  | 1.91 |  |  |  | 1.38 |  |  |  | 0.22 |  |  |  | 3.51 |  |  |  | 9.16 |  |  |  | 9.8 |  |  |  |  |  |  |  |  |
4Q16 |  |  |  |  |  |  | 187,064 |  |  |  | 18.98 |  |  |  | 2.81 |  |  |  | 1.71 |  |  |  | 0.42 |  |  |  | 4.94 |  |  |  | 14.04 |  |  |  | 7.9 |  |  |  |  |  |  |  |  |
3Q16 |  |  |  |  |  |  | 253,944 |  |  |  | 18.91 |  |  |  | 2.58 |  |  |  | 2.43 |  |  |  | 0.39 |  |  |  | 5.40 |  |  |  | 13.51 |  |  |  | 8.2 |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  | 1,113,859 |  |  |  | $16.18 |  |  |  | $2.56 |  |  |  | $2.21 |  |  |  | $0.32 |  |  |  | $5.09 |  |  |  | $11.09 |  |  |  | 8.8 |  |  |  |  |  |  |  |  |
Renewals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  |  |  |  |  | 1,504,824 |  |  |  | $13.93 |  |  |  | $0.07 |  |  |  | $0.00 |  |  |  | $0.00 |  |  |  | $0.07 |  |  |  | $13.86 |  |  |  | 5.2 |  |  |  |  |  |  |  |  |
1Q17 |  |  |  |  |  |  | 1,188,089 |  |  |  | 16.19 |  |  |  | 0.01 |  |  |  | 0.00 |  |  |  | 0.00 |  |  |  | 0.01 |  |  |  | 16.18 |  |  |  | 4.8 |  |  |  |  |  |  |  |  |
4Q16 |  |  |  |  |  |  | 1,069,818 |  |  |  | 14.28 |  |  |  | 0.02 |  |  |  | 0.02 |  |  |  | 0.00 |  |  |  | 0.04 |  |  |  | 14.24 |  |  |  | 5.2 |  |  |  |  |  |  |  |  |
3Q16 |  |  |  |  |  |  | 1,507,262 |  |  |  | 14.67 |  |  |  | 0.71 |  |  |  | 0.00 |  |  |  | 0.03 |  |  |  | 0.74 |  |  |  | 13.93 |  |  |  | 5.6 |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  | 5,269,993 |  |  |  | $14.72 |  |  |  | $0.24 |  |  |  | $0.01 |  |  |  | $0.01 |  |  |  | $0.26 |  |  |  | $14.46 |  |  |  | 5.2 |  |  |  |  |  |  |  |  |

(1) Excluding the retenanting of a dark but rent-paying anchor box at Plaza del Norte, new leasing spreads for 1Q17 and TTM would be 15.8% and 15.4%, respectively. Excluding Puerto Rico, domestic new leasing spreads for 1Q17 and TTM would be 17.7% and 19.0%, respectively.

(2) New Leases exclude development and redevelopment activity.

11

DDR Corp.

Top 50 Tenants

$ and GLA in thousands

|  |  |  | Number of Units |  |  | Base Rent |  |  | Owned GLA |  |  | Credit Ratings
|  | Tenant |  | Wholly Owned |  |  | JV |  |  | Total |  |  | Pro Rata |  |  | % of Total |  |  | At 100% |  |  | Pro Rata |  |  | % of Total |  |  | At 100% |  |  | (S&P/Moody’s/Fitch)
1 |  | TJX Companies (1) |  |  | 62 |  |  |  | 40 |  |  |  | 102 |  |  | $ | 25,711 |  |  |  | 3.8% |  |  | $ | 36,883 |  |  |  | 2,112 |  |  |  | 4.4% |  |  |  | 3,204 |  |  | A+/A2/NR
2 |  | Bed Bath & Beyond (2) |  |  | 56 |  |  |  | 30 |  |  |  | 86 |  |  |  | 22,600 |  |  |  | 3.4% |  |  |  | 30,982 |  |  |  | 1,783 |  |  |  | 3.7% |  |  |  | 2,479 |  |  | BBB+/Baa1/NR
3 |  | PetSmart |  |  | 53 |  |  |  | 32 |  |  |  | 85 |  |  |  | 18,739 |  |  |  | 2.8% |  |  |  | 28,161 |  |  |  | 1,178 |  |  |  | 2.5% |  |  |  | 1,807 |  |  | B+/B1/NR
4 |  | Dick’s Sporting Goods (3) |  |  | 23 |  |  |  | 17 |  |  |  | 40 |  |  |  | 16,766 |  |  |  | 2.5% |  |  |  | 25,684 |  |  |  | 1,164 |  |  |  | 2.4% |  |  |  | 1,891 |  |  | NR
5 |  | AMC Theatres |  |  | 7 |  |  |  | 5 |  |  |  | 12 |  |  |  | 16,144 |  |  |  | 2.4% |  |  |  | 22,310 |  |  |  | 646 |  |  |  | 1.3% |  |  |  | 936 |  |  | B+/B1/B
6 |  | Walmart (4) |  |  | 17 |  |  |  | 4 |  |  |  | 21 |  |  |  | 15,762 |  |  |  | 2.4% |  |  |  | 19,102 |  |  |  | 2,397 |  |  |  | 5.0% |  |  |  | 2,857 |  |  | AA/Aa2/AA
7 |  | Best Buy |  |  | 25 |  |  |  | 13 |  |  |  | 38 |  |  |  | 15,532 |  |  |  | 2.3% |  |  |  | 22,491 |  |  |  | 1,027 |  |  |  | 2.1% |  |  |  | 1,450 |  |  | BBB-/Baa1/BBB-
8 |  | Kohl’s |  |  | 20 |  |  |  | 9 |  |  |  | 29 |  |  |  | 15,024 |  |  |  | 2.2% |  |  |  | 20,318 |  |  |  | 1,901 |  |  |  | 4.0% |  |  |  | 2,565 |  |  | BBB-/Baa2/BBB
9 |  | Ross Stores (5) |  |  | 40 |  |  |  | 34 |  |  |  | 74 |  |  |  | 13,172 |  |  |  | 2.0% |  |  |  | 21,265 |  |  |  | 1,302 |  |  |  | 2.7% |  |  |  | 2,170 |  |  | A-/A3/NR
10 |  | Michaels |  |  | 37 |  |  |  | 25 |  |  |  | 62 |  |  |  | 12,749 |  |  |  | 1.9% |  |  |  | 18,706 |  |  |  | 954 |  |  |  | 2.0% |  |  |  | 1,453 |  |  | BB-/Ba2/NR
11 |  | Gap (6) |  |  | 38 |  |  |  | 24 |  |  |  | 62 |  |  |  | 11,342 |  |  |  | 1.7% |  |  |  | 16,492 |  |  |  | 682 |  |  |  | 1.4% |  |  |  | 1,004 |  |  | BB+/Baa2/BB+
12 |  | Ulta |  |  | 38 |  |  |  | 19 |  |  |  | 57 |  |  |  | 9,749 |  |  |  | 1.5% |  |  |  | 13,950 |  |  |  | 422 |  |  |  | 0.9% |  |  |  | 611 |  |  | NR
13 |  | Ascena (7) |  |  | 70 |  |  |  | 26 |  |  |  | 96 |  |  |  | 8,941 |  |  |  | 1.3% |  |  |  | 11,462 |  |  |  | 439 |  |  |  | 0.9% |  |  |  | 572 |  |  | BB-/Ba3/NR
14 |  | Office Depot (8) |  |  | 24 |  |  |  | 15 |  |  |  | 39 |  |  |  | 8,420 |  |  |  | 1.3% |  |  |  | 12,405 |  |  |  | 548 |  |  |  | 1.1% |  |  |  | 815 |  |  | NR/B1/NR
15 |  | Toys “R” Us (9) |  |  | 16 |  |  |  | 6 |  |  |  | 22 |  |  |  | 8,240 |  |  |  | 1.2% |  |  |  | 9,220 |  |  |  | 749 |  |  |  | 1.6% |  |  |  | 919 |  |  | B-/B3/CCC
16 |  | Barnes & Noble |  |  | 14 |  |  |  | 9 |  |  |  | 23 |  |  |  | 7,624 |  |  |  | 1.1% |  |  |  | 10,814 |  |  |  | 382 |  |  |  | 0.8% |  |  |  | 570 |  |  | NR
17 |  | Kroger (10) |  |  | 7 |  |  |  | 12 |  |  |  | 19 |  |  |  | 6,974 |  |  |  | 1.0% |  |  |  | 11,374 |  |  |  | 591 |  |  |  | 1.2% |  |  |  | 1,116 |  |  | BBB/Baa1/BBB
18 |  | Nordstrom Rack |  |  | 10 |  |  |  | 2 |  |  |  | 12 |  |  |  | 6,686 |  |  |  | 1.0% |  |  |  | 7,881 |  |  |  | 367 |  |  |  | 0.8% |  |  |  | 431 |  |  | BBB+/Baa1/BBB+
19 |  | Lowe’s |  |  | 7 |  |  |  | 1 |  |  |  | 8 |  |  |  | 6,555 |  |  |  | 1.0% |  |  |  | 7,257 |  |  |  | 935 |  |  |  | 1.9% |  |  |  | 1,047 |  |  | A-/A3/NR
20 |  | Jo-Ann |  |  | 18 |  |  |  | 10 |  |  |  | 28 |  |  |  | 6,524 |  |  |  | 1.0% |  |  |  | 9,056 |  |  |  | 594 |  |  |  | 1.2% |  |  |  | 873 |  |  | B/Caa1/NR
21 |  | Petco |  |  | 22 |  |  |  | 10 |  |  |  | 32 |  |  |  | 6,373 |  |  |  | 1.0% |  |  |  | 8,402 |  |  |  | 324 |  |  |  | 0.7% |  |  |  | 443 |  |  | B/B2/NR
22 |  | Mattress Firm |  |  | 44 |  |  |  | 17 |  |  |  | 61 |  |  |  | 6,340 |  |  |  | 0.9% |  |  |  | 8,315 |  |  |  | 222 |  |  |  | 0.5% |  |  |  | 297 |  |  | NR
23 |  | Five Below |  |  | 39 |  |  |  | 18 |  |  |  | 57 |  |  |  | 6,137 |  |  |  | 0.9% |  |  |  | 8,219 |  |  |  | 360 |  |  |  | 0.7% |  |  |  | 488 |  |  | NR
24 |  | Cinemark |  |  | 5 |  |  |  | 3 |  |  |  | 8 |  |  |  | 6,102 |  |  |  | 0.9% |  |  |  | 7,976 |  |  |  | 403 |  |  |  | 0.8% |  |  |  | 520 |  |  | BB/NR/NR
25 |  | LA Fitness |  |  | 9 |  |  |  | 3 |  |  |  | 12 |  |  |  | 6,004 |  |  |  | 0.9% |  |  |  | 8,246 |  |  |  | 440 |  |  |  | 0.9% |  |  |  | 554 |  |  | NR
26 |  | DSW |  |  | 16 |  |  |  | 10 |  |  |  | 26 |  |  |  | 5,934 |  |  |  | 0.9% |  |  |  | 8,780 |  |  |  | 373 |  |  |  | 0.8% |  |  |  | 564 |  |  | NR
27 |  | Regal Cinemas |  |  | 7 |  |  |  | 1 |  |  |  | 8 |  |  |  | 5,903 |  |  |  | 0.9% |  |  |  | 8,003 |  |  |  | 388 |  |  |  | 0.8% |  |  |  | 457 |  |  | B+/B1/B+
28 |  | Pier 1 Imports |  |  | 21 |  |  |  | 13 |  |  |  | 34 |  |  |  | 5,410 |  |  |  | 0.8% |  |  |  | 7,620 |  |  |  | 240 |  |  |  | 0.5% |  |  |  | 349 |  |  | B/NR/NR
29 |  | Home Depot |  |  | 6 |  |  |  | 3 |  |  |  | 9 |  |  |  | 5,293 |  |  |  | 0.8% |  |  |  | 6,768 |  |  |  | 685 |  |  |  | 1.4% |  |  |  | 1,042 |  |  | A/A2/A
30 |  | Party City |  |  | 23 |  |  |  | 15 |  |  |  | 38 |  |  |  | 5,214 |  |  |  | 0.8% |  |  |  | 7,763 |  |  |  | 300 |  |  |  | 0.6% |  |  |  | 470 |  |  | NR
31 |  | Dollar Tree Stores |  |  | 37 |  |  |  | 28 |  |  |  | 65 |  |  |  | 5,035 |  |  |  | 0.8% |  |  |  | 7,760 |  |  |  | 428 |  |  |  | 0.9% |  |  |  | 654 |  |  | BB+/Ba1/NR
32 |  | Staples |  |  | 13 |  |  |  | 16 |  |  |  | 29 |  |  |  | 5,031 |  |  |  | 0.8% |  |  |  | 8,707 |  |  |  | 332 |  |  |  | 0.7% |  |  |  | 588 |  |  | BBB-/Baa2/BB+
33 |  | AT&T |  |  | 48 |  |  |  | 21 |  |  |  | 69 |  |  |  | 4,745 |  |  |  | 0.7% |  |  |  | 6,078 |  |  |  | 126 |  |  |  | 0.3% |  |  |  | 174 |  |  | BBB+/Baa1/A-
34 |  | Whole Foods |  |  | 3 |  |  |  | 3 |  |  |  | 6 |  |  |  | 4,702 |  |  |  | 0.7% |  |  |  | 6,363 |  |  |  | 210 |  |  |  | 0.4% |  |  |  | 311 |  |  | BBB-/Baa3/NR
35 |  | Famous Footwear |  |  | 27 |  |  |  | 11 |  |  |  | 38 |  |  |  | 4,439 |  |  |  | 0.7% |  |  |  | 5,613 |  |  |  | 225 |  |  |  | 0.5% |  |  |  | 287 |  |  | BB/Ba3/NR
36 |  | Burlington |  |  | 7 |  |  |  | 3 |  |  |  | 10 |  |  |  | 4,340 |  |  |  | 0.6% |  |  |  | 5,930 |  |  |  | 466 |  |  |  | 1.0% |  |  |  | 693 |  |  | BB/NR/NR
37 |  | Hobby Lobby |  |  | 8 |  |  |  | 8 |  |  |  | 16 |  |  |  | 3,902 |  |  |  | 0.6% |  |  |  | 7,156 |  |  |  | 499 |  |  |  | 1.0% |  |  |  | 877 |  |  | NR
38 |  | Publix |  |  | 2 |  |  |  | 33 |  |  |  | 35 |  |  |  | 3,557 |  |  |  | 0.5% |  |  |  | 15,457 |  |  |  | 405 |  |  |  | 0.8% |  |  |  | 1,698 |  |  | NR
39 |  | Carter’s Childrenswear |  |  | 28 |  |  |  | 10 |  |  |  | 38 |  |  |  | 3,316 |  |  |  | 0.5% |  |  |  | 4,041 |  |  |  | 126 |  |  |  | 0.3% |  |  |  | 158 |  |  | BB+/Ba1/NR
40 |  | Panera |  |  | 21 |  |  |  | 14 |  |  |  | 35 |  |  |  | 3,247 |  |  |  | 0.5% |  |  |  | 4,966 |  |  |  | 108 |  |  |  | 0.2% |  |  |  | 168 |  |  | NR
41 |  | Tailored Brands (11) |  |  | 20 |  |  |  | 8 |  |  |  | 28 |  |  |  | 3,082 |  |  |  | 0.5% |  |  |  | 4,168 |  |  |  | 137 |  |  |  | 0.3% |  |  |  | 190 |  |  | B/NR/NR
42 |  | Rainbow Apparel |  |  | 26 |  |  |  | 8 |  |  |  | 34 |  |  |  | 2,915 |  |  |  | 0.4% |  |  |  | 3,638 |  |  |  | 140 |  |  |  | 0.3% |  |  |  | 188 |  |  | NR
43 |  | Ahold Delhaize (12) |  |  | 4 |  |  |  | 6 |  |  |  | 10 |  |  |  | 2,911 |  |  |  | 0.4% |  |  |  | 8,393 |  |  |  | 231 |  |  |  | 0.5% |  |  |  | 539 |  |  | BBB/Baa2/BBB
44 |  | Chili’s Restaurant |  |  | 20 |  |  |  | 5 |  |  |  | 25 |  |  |  | 2,910 |  |  |  | 0.4% |  |  |  | 3,572 |  |  |  | 125 |  |  |  | 0.3% |  |  |  | 152 |  |  | BB+/Ba1/BB+
45 |  | Footlocker |  |  | 20 |  |  |  | 0 |  |  |  | 20 |  |  |  | 2,829 |  |  |  | 0.4% |  |  |  | 2,829 |  |  |  | 78 |  |  |  | 0.2% |  |  |  | 78 |  |  | BB+/Ba1/NR
46 |  | Stein Mart |  |  | 7 |  |  |  | 8 |  |  |  | 15 |  |  |  | 2,759 |  |  |  | 0.4% |  |  |  | 4,630 |  |  |  | 310 |  |  |  | 0.6% |  |  |  | 521 |  |  | NR
47 |  | L Brands (13) |  |  | 24 |  |  |  | 14 |  |  |  | 38 |  |  |  | 2,738 |  |  |  | 0.4% |  |  |  | 3,751 |  |  |  | 101 |  |  |  | 0.2% |  |  |  | 136 |  |  | BB+/Ba1/BB+
48 |  | Sprint |  |  | 27 |  |  |  | 16 |  |  |  | 43 |  |  |  | 2,645 |  |  |  | 0.4% |  |  |  | 3,616 |  |  |  | 66 |  |  |  | 0.1% |  |  |  | 102 |  |  | B/B2/B+
49 |  | Giant Eagle |  |  | 2 |  |  |  | 3 |  |  |  | 5 |  |  |  | 2,587 |  |  |  | 0.4% |  |  |  | 5,289 |  |  |  | 219 |  |  |  | 0.5% |  |  |  | 449 |  |  | NR
50 |  | BJ’s Wholesale Club |  |  | 2 |  |  |  | 1 |  |  |  | 3 |  |  |  | 2,521 |  |  |  | 0.4% |  |  |  | 3,780 |  |  |  | 229 |  |  |  | 0.5% |  |  |  | 339 |  |  | B-/B3/NR
|  | Top 50 Total |  |  | 1,120 |  |  |  | 642 |  |  |  | 1,762 |  |  | $ | 382,175 |  |  |  | 57.0% |  |  | $ | 551,642 |  |  |  | 28,469 |  |  |  | 59.2% |  |  |  | 42,256 |  |  |
|  | Total Portfolio |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 670,635 |  |  |  | 100.0% |  |  | $ | 985,592 |  |  |  | 48,053 |  |  |  | 100.0% |  |  |  | 72,686 |  |  |

(1) T.J. Maxx (38) / Marshalls (42) / HomeGoods (21) / Sierra Trading (1) |  | (8) Office Depot (16) / OfficeMax (23)
(2) Bed Bath (52) / World Market (22) / buybuy Baby (10) / CTS (2) |  | (9) Toys “R” Us (6) / Babies “R” Us (12) / Toys-Babies Combo (4)
(3) Dick’s Sporting Goods (37) / Golf Galaxy (3) |  | (10) Kroger (10) / Harris Teeter (5) / King Soopers (1) / Pick ‘n Save (2) / Mariano’s (1)
(4) Walmart (16) / Sam’s Club (2) / Neighborhood Market (3) |  | (11) Men’s Wearhouse (19) / Jos. A. Bank (7) / K&G Fashion Superstore (2)
(5) Ross Dress for Less (71) / dd’s Discounts (3) |  | (12) Stop & Shop (5) / Martin’s (2) / Food Lion (2) / Other (1)
(6) Gap (5) / Old Navy (55) / Banana Republic (2) |  | (13) Bath & Body Works (33) / Victoria’s Secret (5)
(7) Ann Taylor (4) / Catherine’s (6) / Dress Barn (28) / Justice (21) / Lane Bryant (26) / Maurice’s (11) |  |

12

DDR Corp.

Lease Expirations

At DDR share except for count; $ and GLA in thousands

Assumes no exercise of lease options |  |  |  |  |  |  |  |
|  | Greater than 10K SF |  | Less than 10K SF |  | Total
Year |  | # of Leases |  | Expiring SF |  | ABR |  | Rent PSF |  | % of ABR > 10K |  | # of Leases |  | Expiring SF |  | ABR |  | Rent PSF |  | % of ABR < 10K |  | # of Leases |  | Expiring SF |  | ABR |  | Rent PSF |  | % of ABR Total
MTM |  | 6 |  | 142 |  | $1,901 |  | $13.39 |  | 0.5% |  | 138 |  | 156 |  | $4,755 |  | $30.48 |  | 2.0% |  | 144 |  | 298 |  | $6,656 |  | $22.34 |  | 1.1%
2017 |  | 27 |  | 678 |  | 6,570 |  | $9.69 |  | 1.7% |  | 296 |  | 456 |  | 10,867 |  | $23.83 |  | 4.7% |  | 323 |  | 1,134 |  | 17,437 |  | $15.38 |  | 2.8%
2018 |  | 160 |  | 3,208 |  | 40,283 |  | $12.56 |  | 10.3% |  | 834 |  | 1,512 |  | 39,943 |  | $26.42 |  | 17.2% |  | 994 |  | 4,720 |  | 80,226 |  | $17.00 |  | 12.9%
2019 |  | 189 |  | 4,162 |  | 50,639 |  | $12.17 |  | 13.0% |  | 731 |  | 1,177 |  | 31,321 |  | $26.61 |  | 13.5% |  | 920 |  | 5,339 |  | 81,960 |  | $15.35 |  | 13.1%
2020 |  | 166 |  | 3,477 |  | 44,496 |  | $12.80 |  | 11.4% |  | 677 |  | 1,095 |  | 29,834 |  | $27.25 |  | 12.8% |  | 843 |  | 4,572 |  | 74,330 |  | $16.26 |  | 11.9%
2021 |  | 227 |  | 4,645 |  | 57,952 |  | $12.48 |  | 14.8% |  | 706 |  | 1,160 |  | 29,662 |  | $25.57 |  | 12.8% |  | 933 |  | 5,805 |  | 87,614 |  | $15.09 |  | 14.1%
2022 |  | 233 |  | 4,970 |  | 61,096 |  | $12.29 |  | 15.6% |  | 503 |  | 920 |  | 25,273 |  | $27.47 |  | 10.9% |  | 736 |  | 5,890 |  | 86,369 |  | $14.66 |  | 13.9%
2023 |  | 140 |  | 2,845 |  | 34,058 |  | $11.97 |  | 8.7% |  | 212 |  | 601 |  | 15,231 |  | $25.34 |  | 6.6% |  | 352 |  | 3,446 |  | 49,289 |  | $14.30 |  | 7.9%
2024 |  | 93 |  | 1,868 |  | 23,483 |  | $12.57 |  | 6.0% |  | 199 |  | 570 |  | 15,306 |  | $26.85 |  | 6.6% |  | 292 |  | 2,438 |  | 38,789 |  | $15.91 |  | 6.2%
2025 |  | 65 |  | 1,188 |  | 17,736 |  | $14.93 |  | 4.5% |  | 160 |  | 418 |  | 11,137 |  | $26.64 |  | 4.8% |  | 225 |  | 1,606 |  | 28,873 |  | $17.98 |  | 4.6%
2026 |  | 56 |  | 909 |  | 13,599 |  | $14.96 |  | 3.5% |  | 150 |  | 420 |  | 12,252 |  | $29.17 |  | 5.3% |  | 206 |  | 1,329 |  | 25,851 |  | $19.45 |  | 4.1%
Thereafter |  | 89 |  | 2,376 |  | 39,027 |  | $16.43 |  | 10.0% |  | 108 |  | 262 |  | 6,949 |  | $26.52 |  | 3.0% |  | 197 |  | 2,638 |  | 45,976 |  | $17.43 |  | 7.4%
Total |  | 1,451 |  | 30,468 |  | $390,840 |  | $12.83 |  | 100.0% |  | 4,714 |  | 8,747 |  | $232,530 |  | $26.58 |  | 100.0% |  | 6,165 |  | 39,215 |  | $623,370 |  | $15.90 |  | 100.0%

Assumes all lease options are exercised |  |  |  |  |  |  |  |
|  | Greater than 10K SF |  | Less than 10K SF |  | Total
Year |  | # of Leases |  | Expiring SF |  | ABR |  | Rent PSF |  | % of ABR > 10K |  | # of Leases |  | Expiring SF |  | ABR |  | Rent PSF |  | % of ABR < 10K |  | # of Leases |  | Expiring SF |  | ABR |  | Rent PSF |  | % of ABR Total
MTM |  | 4 |  | 61 |  | $904 |  | $14.82 |  | 0.2% |  | 121 |  | 141 |  | $4,487 |  | $31.82 |  | 1.9% |  | 125 |  | 202 |  | $5,391 |  | $26.69 |  | 0.9%
2017 |  | 7 |  | 115 |  | 1,059 |  | $9.21 |  | 0.3% |  | 187 |  | 285 |  | 6,895 |  | $24.19 |  | 3.0% |  | 194 |  | 400 |  | 7,954 |  | $19.89 |  | 1.3%
2018 |  | 30 |  | 363 |  | 4,025 |  | $11.09 |  | 1.0% |  | 469 |  | 789 |  | 22,338 |  | $28.31 |  | 9.6% |  | 499 |  | 1,152 |  | 26,363 |  | $22.88 |  | 4.2%
2019 |  | 19 |  | 244 |  | 3,649 |  | $14.95 |  | 0.9% |  | 422 |  | 650 |  | 18,331 |  | $28.20 |  | 7.9% |  | 441 |  | 894 |  | 21,980 |  | $24.59 |  | 3.5%
2020 |  | 25 |  | 272 |  | 4,831 |  | $17.76 |  | 1.2% |  | 376 |  | 522 |  | 16,145 |  | $30.93 |  | 6.9% |  | 401 |  | 794 |  | 20,976 |  | $26.42 |  | 3.4%
2021 |  | 26 |  | 322 |  | 5,566 |  | $17.29 |  | 1.4% |  | 415 |  | 550 |  | 15,117 |  | $27.49 |  | 6.5% |  | 441 |  | 872 |  | 20,683 |  | $23.72 |  | 3.3%
2022 |  | 37 |  | 447 |  | 7,341 |  | $16.42 |  | 1.9% |  | 350 |  | 517 |  | 15,329 |  | $29.65 |  | 6.6% |  | 387 |  | 964 |  | 22,670 |  | $23.52 |  | 3.6%
2023 |  | 20 |  | 290 |  | 4,937 |  | $17.02 |  | 1.3% |  | 289 |  | 511 |  | 13,886 |  | $27.17 |  | 6.0% |  | 309 |  | 801 |  | 18,823 |  | $23.50 |  | 3.0%
2024 |  | 23 |  | 385 |  | 5,496 |  | $14.28 |  | 1.4% |  | 267 |  | 428 |  | 12,763 |  | $29.82 |  | 5.5% |  | 290 |  | 813 |  | 18,259 |  | $22.46 |  | 2.9%
2025 |  | 27 |  | 467 |  | 5,862 |  | $12.55 |  | 1.5% |  | 252 |  | 444 |  | 11,710 |  | $26.37 |  | 5.0% |  | 279 |  | 911 |  | 17,572 |  | $19.29 |  | 2.8%
2026 |  | 38 |  | 470 |  | 7,621 |  | $16.21 |  | 1.9% |  | 253 |  | 431 |  | 12,028 |  | $27.91 |  | 5.2% |  | 291 |  | 901 |  | 19,649 |  | $21.81 |  | 3.2%
Thereafter |  | 1,195 |  | 27,032 |  | 339,549 |  | $12.56 |  | 86.9% |  | 1,313 |  | 3,479 |  | 83,501 |  | $24.00 |  | 35.9% |  | 2,508 |  | 30,511 |  | 423,050 |  | $13.87 |  | 67.9%
Total |  | 1,451 |  | 30,468 |  | $390,840 |  | $12.83 |  | 100.0% |  | 4,714 |  | 8,747 |  | $232,530 |  | $26.58 |  | 100.0% |  | 6,165 |  | 39,215 |  | $623,370 |  | $15.90 |  | 100.0%

13

DDR Corp.

Developments/Redevelopments

$ in thousands

|  | DDR Own % |  |  | Project Yield |  |  | Est. Total Net Cost |  |  | Cost Incurred To Date |  |  | Est. Remain Costs |  |  | Placed In Service |  |  | CIP (1) |  |  | Initial Occupancy |  |  | Est. Stabilized Quarter |  | Key Tenants
Consolidated Summary |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Redevelopments - Major (2) |  |  |  |  |  |  | 8 | % |  |  | $133,557 |  |  |  | $73,435 |  |  |  | $60,122 |  |  |  | $33,989 |  |  |  | $39,446 |  |  |  |  |  |  |  |  |
Redevelopments -Minor (3) |  |  |  |  |  |  | 11 | % |  |  | 108,076 |  |  |  | 36,138 |  |  |  | 71,938 |  |  |  | 18,412 |  |  |  | 17,726 |  |  |  |  |  |  |  |  |
Other (4) |  |  |  |  |  |  | N/A |  |  |  | N/A |  |  |  | 27,301 |  |  |  | 0 |  |  |  | 0 |  |  |  | 27,301 |  |  |  |  |  |  |  |  |
Undeveloped land (5) |  |  |  |  |  |  | N/A |  |  |  | N/A |  |  |  | 29,070 |  |  |  | 0 |  |  |  | 0 |  |  |  | 29,070 |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  | $241,633 |  |  |  | $165,944 |  |  |  | $132,060 |  |  |  | $52,401 |  |  |  | $113,543 |  |  |  |  |  |  |  |  |
Redevelopments - Major |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lee Vista Promenade (Orlando, FL) |  |  | 100 | % |  |  |  |  |  |  | $39,241 |  |  |  | $22,937 |  |  |  | $16,304 |  |  |  | $0 |  |  |  | $22,937 |  |  |  | 1Q18 |  |  | 1Q19 |  | Academy Sports, Bealls
Kenwood Square (Cincinnati, OH) |  |  | 100 | % |  |  |  |  |  |  | 30,928 |  |  |  | 20,936 |  |  |  | 9,992 |  |  |  | 19,384 |  |  |  | 1,552 |  |  |  | 4Q16 |  |  | 2Q18 |  | Dick’s Sporting Goods, T.J. Maxx, Five Below, Marshalls
West Bay Plaza (Cleveland, OH) |  |  | 100 | % |  |  |  |  |  |  | 27,792 |  |  |  | 1,474 |  |  |  | 26,318 |  |  |  | 0 |  |  |  | 1,474 |  |  |  | 4Q18 |  |  | 3Q19 |  | Fresh Thyme
Belgate Shopping Center (expansion) (Charlotte, NC) |  |  | 100 | % |  |  |  |  |  |  | 23,778 |  |  |  | 19,117 |  |  |  | 4,661 |  |  |  | 13,181 |  |  |  | 5,936 |  |  |  | 3Q16 |  |  | 4Q17 |  | Burlington, T.J. Maxx
Plaza del Sol (expansion) (San Juan, PR) |  |  | 100 | % |  |  |  |  |  |  | 11,818 |  |  |  | 8,971 |  |  |  | 2,847 |  |  |  | 1,424 |  |  |  | 7,547 |  |  |  | 4Q17 |  |  | 4Q17 |  | Dave & Busters
|  |  |  |  |  |  |  |  |  |  | $133,557 |  |  |  | $73,435 |  |  |  | $60,122 |  |  |  | $33,989 |  |  |  | $39,446 |  |  |  |  |  |  |  |  |

(1) | Balance is in addition to DDR’s pro rata share of joint venture CIP of $6 million.

(2) | Projects excluded from same store NOI.

(3) | Projects included in same store NOI.

(4) | Includes predevelopment and retenanting expenditures.

(5) | Balance is in addition to owned land adjacent to existing centers with an estimated value of $27 million and cost basis of the headquarters (non-income producing) of $41 million.

14

DDR Corp.

Transactions

$ and GLA in thousands

|  |  |  |  |  |  |  |  |  | Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  | DDR |  |  | Owned |  |  | At 100% |  |  |  |  |  | At DDR Share |
|  | Property Name |  | City, State |  |  | Own % |  |  | GLA |  |  | Price |  |  | Debt |  |  |  |  |  | Price |  |  | Debt |
Acquisitions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
01/10/17 |  | 3030 North Broadway |  |  | Chicago, IL |  |  |  | 100.0 | % |  |  | 132 |  |  |  | $81,000 |  |  |  | $0 |  |  |  |  |  |  |  | $81,000 |  |  |  | $0 |
02/28/17 |  | Arrowhead Crossing outparcel |  |  | Phoenix, AZ |  |  |  | 100.0 | % |  |  | 9 |  |  |  | 6,250 |  |  |  | 0 |  |  |  |  |  |  |  | 6,250 |  |  |  | 0 |
|  |  |  |  | Total Year to Date |  |  |  |  |  |  |  | 141 |  |  |  | $87,250 |  |  |  | $0 |  |  |  |  |  |  |  | $87,250 |  |  |  | $0 |
Dispositions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
01/24/17 |  | The Junction |  |  | Jackson, MS |  |  |  | 100.0 | % |  |  | 108 |  |  |  | $7,000 |  |  |  | $0 |  |  |  |  |  |  |  | $7,000 |  |  |  | $0 |
01/25/17 |  | Morris Corners |  |  | Springfield, MO |  |  |  | 100.0 | % |  |  | 56 |  |  |  | 1,500 |  |  |  | 0 |  |  |  |  |  |  |  | 1,500 |  |  |  | 0 |
02/03/17 |  | Valley Park Centre |  |  | Russellville, AR |  |  |  | 100.0 | % |  |  | 296 |  |  |  | 22,390 |  |  |  | 0 |  |  |  |  |  |  |  | 22,390 |  |  |  | 0 |
02/16/17 |  | Chesterfield Crossing |  |  | Richmond, VA |  |  |  | 100.0 | % |  |  | 89 |  |  |  | 14,350 |  |  |  | 0 |  |  |  |  |  |  |  | 14,350 |  |  |  | 0 |
02/17/17 |  | Shops at Turner Hill/Turner Hill Marketplace |  |  | Lithonia, GA |  |  |  | 100.0 | % |  |  | 157 |  |  |  | 8,750 |  |  |  | 0 |  |  |  |  |  |  |  | 8,750 |  |  |  | 0 |
02/22/17 |  | Indian Springs Market Center |  |  | Cincinnati, OH |  |  |  | 100.0 | % |  |  | 146 |  |  |  | 7,300 |  |  |  | 0 |  |  |  |  |  |  |  | 7,300 |  |  |  | 0 |
03/24/17 |  | Southland Crossings |  |  | Youngstown, OH |  |  |  | 100.0 | % |  |  | 537 |  |  |  | 41,700 |  |  |  | 23,403 |  |  |  |  |  |  |  | 41,700 |  |  |  | 23,403 |
03/24/17 |  | Shelby Corners (BRE DDR Retail Holdings III) |  |  | Utica, MI |  |  |  | 5.0 | % |  |  | 76 |  |  |  | 5,500 |  |  |  | 4,187 |  |  |  |  |  |  |  | 275 |  |  |  | 209 |
03/28/17 |  | Barrington Town Center |  |  | Cleveland, OH |  |  |  | 100.0 | % |  |  | 113 |  |  |  | 13,100 |  |  |  | 0 |  |  |  |  |  |  |  | 13,100 |  |  |  | 0 |
|  |  |  |  | Non-operating sales |  |  |  |  |  |  |  |  |  |  |  | 2,105 |  |  |  |  |  |  |  |  |  |  |  | 2,105 |  |  |  |  |
|  |  |  |  | 1Q Total |  |  |  |  |  |  |  | 1,578 |  |  |  | $123,695 |  |  |  | $27,590 |  |  |  |  |  |  |  | $118,470 |  |  |  | $23,612 |
04/07/17 |  | Warner Robins Place |  |  | Warner Robins, GA |  |  |  | 100.0 | % |  |  | 119 |  |  |  | $17,910 |  |  |  | $0 |  |  |  |  |  |  |  | $17,910 |  |  |  | $0 |
04/14/17 |  | Loan repayment (Northridge Plaza) |  |  | Olathe, KS |  |  |  | 100.0 | % |  |  |  |  |  |  | 30,901 |  |  |  |  |  |  |  |  |  |  |  | 30,901 |  |  |  |  |
05/08/17 |  | Telegraph Plaza (BRE DDR Retail Holdings III) |  |  | Monroe, MI |  |  |  | 5.0 | % |  |  | 141 |  |  |  | 12,350 |  |  |  | 0 |  |  |  |  |  |  |  | 618 |  |  |  | 0 |
05/26/17 |  | The Marketplace at Delta Township |  |  | Lansing, MI |  |  |  | 100.0 | % |  |  | 174 |  |  |  | 19,000 |  |  |  | 0 |  |  |  |  |  |  |  | 19,000 |  |  |  | 0 |
05/31/17 |  | Jefferson Plaza |  |  | Newport News, VA |  |  |  | 100.0 | % |  |  | 47 |  |  |  | 7,887 |  |  |  | 0 |  |  |  |  |  |  |  | 7,887 |  |  |  | 0 |
06/12/17 |  | New Tampa Commons |  |  | Tampa, FL |  |  |  | 100.0 | % |  |  | 10 |  |  |  | 4,100 |  |  |  | 0 |  |  |  |  |  |  |  | 4,100 |  |  |  | 0 |
06/13/17 |  | Northland Square |  |  | Cedar Rapids, IA |  |  |  | 100.0 | % |  |  | 187 |  |  |  | 22,025 |  |  |  | 0 |  |  |  |  |  |  |  | 22,025 |  |  |  | 0 |
06/27/17 |  | Mooresville Consumer Square |  |  | Mooresville, NC |  |  |  | 100.0 | % |  |  | 472 |  |  |  | 48,230 |  |  |  | 0 |  |  |  |  |  |  |  | 48,230 |  |  |  | 0 |
06/29/17 |  | Jefferson County Plaza |  |  | Arnold, MO |  |  |  | 100.0 | % |  |  | 42 |  |  |  | 1,000 |  |  |  | 0 |  |  |  |  |  |  |  | 1,000 |  |  |  | 0 |
06/29/17 |  | Walmart |  |  | Alliance, OH |  |  |  | 100.0 | % |  |  | 200 |  |  |  | 16,710 |  |  |  | 0 |  |  |  |  |  |  |  | 16,710 |  |  |  | 0 |
06/30/17 |  | Plaza del Oeste & Rexville Plaza |  |  | San German & Bayamon, PR |  |  |  | 100.0 | % |  |  | 365 |  |  |  | 57,250 |  |  |  | 0 |  |  |  |  |  |  |  | 57,250 |  |  |  | 0 |
|  |  |  |  | Non-operating sales |  |  |  |  |  |  |  |  |  |  |  | 100 |  |  |  |  |  |  |  |  |  |  |  | 100 |  |  |  |  |
|  |  |  |  | 2Q Total |  |  |  |  |  |  |  | 1,757 |  |  |  | $237,463 |  |  |  | $0 |  |  |  |  |  |  |  | $225,731 |  |  |  | $0 |
07/13/17 |  | Cordova Commons (BRE DDR Retail Holdings III) |  |  | Pensacola, FL |  |  |  | 5.0 | % |  |  | 164 |  |  |  | $35,200 |  |  |  | $26,096 |  |  |  |  |  |  |  | $1,760 |  |  |  | $1,305 |
07/13/17 |  | Bellview Plaza (BRE DDR Retail Holdings III) |  |  | Pensacola, FL |  |  |  | 5.0 | % |  |  | 83 |  |  |  | 11,555 |  |  |  | 4,145 |  |  |  |  |  |  |  | 578 |  |  |  | 207 |
07/13/17 |  | Shops at Cedar Point (1) |  |  | Allentown, PA |  |  |  | 0.3 | % |  |  | 131 |  |  |  | 19,150 |  |  |  | 12,000 |  |  |  |  |  |  |  | 57 |  |  |  | 36 |
07/13/17 |  | Wedgewood Commons (1) |  |  | Stuart, FL |  |  |  | 0.3 | % |  |  | 165 |  |  |  | 23,200 |  |  |  | 13,011 |  |  |  |  |  |  |  | 70 |  |  |  | 39 |
07/14/17 |  | Del Monte Plaza (BRE DDR Retail Holdings III) |  |  | Reno, NV |  |  |  | 5.0 | % |  |  | 83 |  |  |  | 24,100 |  |  |  | 9,616 |  |  |  |  |  |  |  | 1,205 |  |  |  | 481 |
|  | Preferred equity repayment |  |  | Various |  |  |  | 100.0 | % |  |  |  |  |  |  | 2,600 |  |  |  |  |  |  |  |  |  |  |  | 2,600 |  |  |  |  |
|  |  |  |  | 3Q Total |  |  |  |  |  |  |  | 626 |  |  |  | $115,805 |  |  |  | $64,868 |  |  |  |  |  |  |  | $6,270 |  |  |  | $2,068 |
|  |  |  |  | Total Year to Date |  |  |  |  |  |  |  | 3,961 |  |  |  | $476,963 |  |  |  | $92,458 |  |  |  |  |  |  |  | $350,471 |  |  |  | $25,680 |

(1) | Asset included in the collateral for BRE DDR Retail Holdings IV preferred interest. The Company does not have a material interest, but provides property asset management services.

15

DDR Corp.

Debt Summary

$ in thousands

|  | Consolidated |  | Unconsolidated |  | Total Pro Rata
Debt Composition |  | Total 100% |  |  | Total DDR Share |  |  | GAAP Interest Rate DDR Share |  | Total 100% |  | Total DDR Share |  |  | GAAP Interest Rate DDR Share |  | Total DDR Share |  |  | GAAP Interest Rate
Unsecured Credit Facilities |  |  | $0 |  |  |  | $0 |  |  | 2.22% |  |  |  |  |  |  |  |  |  |  | $0 |  |  | 2.22%
Unsecured Term Loan |  |  | 400,000 |  |  |  | 400,000 |  |  | 2.32% |  |  |  |  |  |  |  |  |  |  | 400,000 |  |  | 2.32%
Unsecured Public Debt |  |  | 3,076,797 |  |  |  | 3,076,797 |  |  | 4.75% |  |  |  |  |  |  |  |  |  |  | 3,076,797 |  |  | 4.75%
Secured Term Loan |  |  | 200,000 |  |  |  | 200,000 |  |  | 2.57% |  |  |  |  |  |  |  |  |  |  | 200,000 |  |  | 2.57%
Fixed Rate Mortgage Loans |  |  | 880,288 |  |  |  | 870,451 |  |  | 4.50% |  | $984,089 |  |  | $146,840 |  |  | 4.27% |  |  | 1,017,291 |  |  | 4.47%
Variable Rate Mortgage Loans |  |  | 25,565 |  |  |  | 25,565 |  |  | 2.18% |  | 1,714,243 |  |  | 212,441 |  |  | 3.12% |  |  | 238,006 |  |  | 3.02%
Subtotal |  |  | $4,582,650 |  |  |  | $4,572,813 |  |  | 4.38% |  | $2,698,332 |  |  | $359,281 |  |  | 3.59% |  |  | $4,932,094 |  |  | 4.32%
Fair Market Value Adjustment |  |  | 4,521 |  |  |  | 4,521 |  |  |  |  | 13,442 |  |  | 672 |  |  |  |  |  | 5,193 |  |  |
Unamortized Loan Costs, Net |  |  | (20,505 | ) |  |  | (20,402 | ) |  |  |  | (21,107) |  |  | (3,857 | ) |  |  |  |  | (24,259 | ) |  |
Total |  |  | $4,566,666 |  |  |  | $4,556,932 |  |  | 4.38% |  | $2,690,667 |  |  | $356,096 |  |  | 3.59% |  |  | $4,913,028 |  |  | 4.32%
Consolidated Maturity Schedule (1) |  |  |  |  |  | Principal Payments |  | Secured Maturities |  | Unsecured Maturities |  |  | Total 100% |  | Total Pro Rata |  |  | Pro Rata GAAP Interest Rate
2017 |  |  |  |  |  |  |  |  |  | $11,758 |  | $126,465 |  |  | $0 |  |  | $138,223 |  |  | $138,223 |  |  | 3.55%
2018 (2) |  |  |  |  |  |  |  |  |  | 19,359 |  | 302,605 |  |  | 382,196 |  |  | 704,160 |  |  | 704,160 |  |  | 4.49%
2019 |  |  |  |  |  |  |  |  |  | 15,407 |  | 169,348 |  |  | 0 |  |  | 184,755 |  |  | 184,755 |  |  | 5.41%
2020 |  |  |  |  |  |  |  |  |  | 7,314 |  | 279,894 |  |  | 700,000 |  |  | 987,208 |  |  | 987,208 |  |  | 4.61%
2021 |  |  |  |  |  |  |  |  |  | 4,366 |  | 126,459 |  |  | 300,000 |  |  | 430,825 |  |  | 430,825 |  |  | 3.97%
2022 |  |  |  |  |  |  |  |  |  | 59 |  | 42,819 |  |  | 450,000 |  |  | 492,878 |  |  | 483,041 |  |  | 4.68%
2023 |  |  |  |  |  |  |  |  |  | 0 |  | 0 |  |  | 300,000 |  |  | 300,000 |  |  | 300,000 |  |  | 3.52%
2024 |  |  |  |  |  |  |  |  |  | 0 |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0.00%
2025 |  |  |  |  |  |  |  |  |  | 0 |  | 0 |  |  | 500,000 |  |  | 500,000 |  |  | 500,000 |  |  | 3.79%
2026 and beyond |  |  |  |  |  |  |  |  |  | 0 |  | 0 |  |  | 850,000 |  |  | 850,000 |  |  | 850,000 |  |  | 4.43%
Unsecured debt discount |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,399 | ) |  | (5,399) |  |  | (5,399 | ) |  |
Total |  |  |  |  |  |  |  |  |  | $58,263 |  | $1,047,590 |  |  | $3,476,797 |  |  | $4,582,650 |  |  | $4,572,813 |  |  | 4.38%
Unconsolidated Maturity Schedule (1) |  |  | Principal Payments |  | Secured Maturities |  | Unsecured Maturities |  |  | Total 100% |  | Total Pro Rata |  |  | Pro Rata GAAP Interest Rate
2017 |  |  |  |  |  |  |  |  |  | $2,968 |  | $28,371 |  |  | $0 |  |  | $31,339 |  |  | $5,684 |  |  | 4.75%
2018 |  |  |  |  |  |  |  |  |  | 4,787 |  | 106,548 |  |  | 0 |  |  | 111,335 |  |  | 10,081 |  |  | 4.38%
2019 |  |  |  |  |  |  |  |  |  | 4,824 |  | 623,088 |  |  | 0 |  |  | 627,912 |  |  | 31,187 |  |  | 2.91%
2020 |  |  |  |  |  |  |  |  |  | 5,535 |  | 403,673 |  |  | 0 |  |  | 409,208 |  |  | 56,251 |  |  | 2.89%
2021 |  |  |  |  |  |  |  |  |  | 5,057 |  | 255,172 |  |  | 0 |  |  | 260,229 |  |  | 60,521 |  |  | 4.58%
2022 |  |  |  |  |  |  |  |  |  | 3,468 |  | 1,038,028 |  |  | 0 |  |  | 1,041,496 |  |  | 157,966 |  |  | 3.43%
2023 |  |  |  |  |  |  |  |  |  | 2,930 |  | 93,177 |  |  | 0 |  |  | 96,107 |  |  | 4,803 |  |  | 4.25%
2024 |  |  |  |  |  |  |  |  |  | 1,352 |  | 83,688 |  |  | 0 |  |  | 85,040 |  |  | 13,038 |  |  | 4.31%
2025 |  |  |  |  |  |  |  |  |  | 903 |  | 0 |  |  | 0 |  |  | 903 |  |  | 0 |  |  | 0.00%
2026 and beyond |  |  |  |  |  |  |  |  |  | 2,148 |  | 32,615 |  |  | 0 |  |  | 34,763 |  |  | 19,750 |  |  | 0.00%
Total |  |  |  |  |  |  |  |  |  | $33,972 |  | $2,664,360 |  |  | $0 |  |  | $2,698,332 |  |  | $359,281 |  |  | 3.59%
% of Total (3) |  |  |  |  |  |  |  | Consolidated |  | Wtd Avg GAAP Rate |  | Unconsolidated |  |  | Wtd Avg GAAP Rate |  | Total |  |  | Wtd Avg GAAP Rate
Fixed |  |  |  |  |  |  |  |  |  | 86.8% |  | 4.7% |  |  | 40.9% |  |  | 4.3% |  |  | 83.5% |  |  | 4.7%
Variable |  |  |  |  |  |  |  |  |  | 13.2% |  | 2.4% |  |  | 59.1% |  |  | 3.1% |  |  | 16.5% |  |  | 2.6%
Recourse to DDR |  |  |  |  |  |  |  |  |  | 81.0% |  | 4.4% |  |  | 0.0% |  |  | 0.0% |  |  | 75.1% |  |  | 4.4%
Non-recourse to DDR |  |  |  |  |  |  |  |  |  | 19.0% |  | 4.5% |  |  | 100.0% |  |  | 3.6% |  |  | 24.9% |  |  | 4.2%

(1) | Assumes borrower extension options are exercised.

(2) | Includes $300 million unsecured notes that were repaid in July 2017.

(3) | Calculations based on Pro Rata.

16

DDR Corp.

Consolidated Debt Detail

$ in thousands |  | Balance 100% |  |  | Balance DDR Share |  |  | Maturity Date (1) |  |  | GAAP Interest Rate (2) |
Bank Debt (3) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured Revolver ($750m) |  |  | $0 |  |  |  | $0 |  |  |  | 06/20 |  |  |  | L+100 |
Unsecured Revolver ($50m) |  |  | 0 |  |  |  | 0 |  |  |  | 06/20 |  |  |  | L+100 |
Secured Term Loan ($200m) |  |  | 200,000 |  |  |  | 200,000 |  |  |  | 04/18 |  |  |  | L+135 |
Unsecured Term Loan ($400m) |  |  | 400,000 |  |  |  | 400,000 |  |  |  | 04/20 |  |  |  | L+110 |
|  |  | $600,000 |  |  |  | $600,000 |  |  |  |  |  |  |  |  |
Public Debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured Notes (4) |  |  | $299,773 |  |  |  | $299,773 |  |  |  | 04/18 |  |  |  | 5.07% |
Unsecured Notes |  |  | 82,196 |  |  |  | 82,196 |  |  |  | 07/18 |  |  |  | 7.54% |
Unsecured Notes |  |  | 299,186 |  |  |  | 299,186 |  |  |  | 09/20 |  |  |  | 8.07% |
Unsecured Notes |  |  | 298,990 |  |  |  | 298,990 |  |  |  | 01/21 |  |  |  | 3.71% |
Unsecured Notes |  |  | 454,380 |  |  |  | 454,380 |  |  |  | 07/22 |  |  |  | 4.63% |
Unsecured Notes |  |  | 298,930 |  |  |  | 298,930 |  |  |  | 05/23 |  |  |  | 3.52% |
Unsecured Notes |  |  | 497,194 |  |  |  | 497,194 |  |  |  | 02/25 |  |  |  | 3.79% |
Unsecured Notes |  |  | 396,965 |  |  |  | 396,965 |  |  |  | 02/26 |  |  |  | 4.43% |
Unsecured Notes |  |  | 449,183 |  |  |  | 449,183 |  |  |  | 06/27 |  |  |  | 4.81% |
|  |  | $3,076,797 |  |  |  | $3,076,797 |  |  |  |  |  |  |  |  |
Mortgage Debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Walmart Supercenter, NC |  |  | $336 |  |  |  | $336 |  |  |  | 08/17 |  |  |  | 8.89% |
Connecticut Commons, CT |  |  | 45,129 |  |  |  | 45,129 |  |  |  | 10/17 |  |  |  | 3.54% |
Riverdale Village, MN |  |  | 24,758 |  |  |  | 24,758 |  |  |  | 10/17 |  |  |  | 3.54% |
Riverdale Village Perimeter, MN |  |  | 31,028 |  |  |  | 31,028 |  |  |  | 10/17 |  |  |  | 3.54% |
Lake Brandon Village, FL |  |  | 8,919 |  |  |  | 8,919 |  |  |  | 10/17 |  |  |  | 3.54% |
Shoppers World Brookfield, WI |  |  | 5,574 |  |  |  | 5,574 |  |  |  | 10/17 |  |  |  | 3.54% |
Marketplace of Brown Deer, WI |  |  | 3,978 |  |  |  | 3,978 |  |  |  | 10/17 |  |  |  | 3.54% |
Brown Deer Center, WI |  |  | 7,527 |  |  |  | 7,527 |  |  |  | 10/17 |  |  |  | 3.54% |
Falcon Ridge Town Center, CA |  |  | 13,897 |  |  |  | 13,897 |  |  |  | 01/18 |  |  |  | 3.67% |
Walmart Supercenter, SC |  |  | 804 |  |  |  | 804 |  |  |  | 01/18 |  |  |  | 8.01% |
Fortuna Center, VA |  |  | 12,120 |  |  |  | 12,120 |  |  |  | 02/18 |  |  |  | 3.74% |
Johns Creek Town Center, GA |  |  | 23,277 |  |  |  | 23,277 |  |  |  | 03/18 |  |  |  | 5.20% |
The Promenade at Brentwood, MO |  |  | 29,544 |  |  |  | 29,544 |  |  |  | 03/18 |  |  |  | 5.18% |
DDR Headquarters, OH |  |  | 25,565 |  |  |  | 25,565 |  |  |  | 03/18 |  |  |  | 2.18% |
Lowe’s, TN |  |  | 1,974 |  |  |  | 1,974 |  |  |  | 01/19 |  |  |  | 1.34% |
Nassau Park Pavilion, NJ |  |  | 54,344 |  |  |  | 54,344 |  |  |  | 02/19 |  |  |  | 3.56% |
Bandera Pointe, TX |  |  | 23,644 |  |  |  | 23,644 |  |  |  | 02/19 |  |  |  | 3.59% |
Presidential Commons, GA |  |  | 20,212 |  |  |  | 20,212 |  |  |  | 02/19 |  |  |  | 3.57% |
Plaza Cayey, PR |  |  | 20,115 |  |  |  | 20,115 |  |  |  | 06/19 |  |  |  | 7.82% |
Plaza Fajardo, PR |  |  | 24,186 |  |  |  | 24,186 |  |  |  | 06/19 |  |  |  | 7.74% |
Plaza Isabela, PR |  |  | 21,245 |  |  |  | 21,245 |  |  |  | 06/19 |  |  |  | 7.75% |
Plaza Walmart, PR |  |  | 11,306 |  |  |  | 11,306 |  |  |  | 06/19 |  |  |  | 7.81% |
Mariner Square, FL |  |  | 1,368 |  |  |  | 1,368 |  |  |  | 09/19 |  |  |  | 10.08% |

17

DDR Corp.

Consolidated Debt Detail

$ in thousands |  | Balance 100% |  |  | Balance DDR Share |  |  | Maturity Date (1) |  |  | GAAP Interest Rate (2) |
Plaza Rio Hondo, PR |  |  | 120,149 |  |  |  | 120,149 |  |  |  | 01/20 |  |  |  | 4.03% |
Easton Marketplace, OH |  |  | 47,983 |  |  |  | 47,983 |  |  |  | 01/20 |  |  |  | 4.05% |
The Fountains, FL |  |  | 43,778 |  |  |  | 43,778 |  |  |  | 01/20 |  |  |  | 4.16% |
Perimeter Pointe, GA |  |  | 41,388 |  |  |  | 41,388 |  |  |  | 01/20 |  |  |  | 4.03% |
Polaris Towne Center, OH |  |  | 41,988 |  |  |  | 41,988 |  |  |  | 04/20 |  |  |  | 5.00% |
Chapel Hills West, CO |  |  | 11,275 |  |  |  | 11,275 |  |  |  | 06/21 |  |  |  | 3.70% |
West Valley Marketplace, PA |  |  | 6,734 |  |  |  | 6,734 |  |  |  | 07/21 |  |  |  | 6.17% |
Plaza Escorial, PR |  |  | 69,300 |  |  |  | 69,300 |  |  |  | 07/21 |  |  |  | 3.72% |
Wrangleboro Consumer Sq, NJ |  |  | 56,855 |  |  |  | 56,855 |  |  |  | 10/21 |  |  |  | 5.37% |
Chapel Hills East, CO |  |  | 7,635 |  |  |  | 7,635 |  |  |  | 12/21 |  |  |  | 4.74% |
Paradise Village Gateway, AZ |  |  | 29,810 |  |  |  | 19,973 |  |  |  | 01/22 |  |  |  | 4.89% |
Macedonia Commons, OH |  |  | 18,108 |  |  |  | 18,108 |  |  |  | 02/22 |  |  |  | 5.83% |
|  |  | $905,853 |  |  |  | $896,016 |  |  |  |  |  |  |  |  |
Consolidated Debt Subtotal |  |  | $4,582,650 |  |  |  | $4,572,813 |  |  |  |  |  |  |  |  |
FMV Adjustment – Assumed Debt |  |  | 4,521 |  |  |  | 4,521 |  |  |  |  |  |  |  |  |
Unamortized Loan Costs, Net |  |  | (20,505) |  |  |  | (20,402) |  |  |  |  |  |  |  |  |
Total Consolidated Debt |  |  | $4,566,666 |  |  |  | $4,556,932 |  |  |  |  |  |  |  |  |
Rate Type |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed |  |  | $3,980,362 |  |  |  | $3,970,525 |  |  |  | 5.0 years |  |  |  | 4.68% |
Variable |  |  | 602,288 |  |  |  | 602,288 |  |  |  | 2.0 years |  |  |  | 2.40% |
|  |  | $4,582,650 |  |  |  | $4,572,813 |  |  |  | 4.7 years |  |  |  | 4.38% |
Perpetual Preferred Stock |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class J |  |  | $200,000 |  |  |  | $200,000 |  |  |  | August 2017 (5) |  |  |  | 6.50% |
Class K |  |  | 150,000 |  |  |  | 150,000 |  |  |  | April 2018 (5) |  |  |  | 6.25% |
Class A |  |  | 175,000 |  |  |  | 175,000 |  |  |  | June 2022 (5) |  |  |  | 6.38% |
Interest Rate Swaps |  | Notional Amount |  |  | Rate Hedged |  |  | Fixed Rate |  |  | Termination Date |
Variable Rate Debt |  |  | $76,098 |  |  |  | 1 mo. LIBOR |  |  |  | 2.81% |  |  |  | 09/17 |

(1) Assumes borrower extension options are exercised. |  | (4) Repaid in July 2017.
(2) L = LIBOR |  | (5) Earliest redemption date.
(3) Excludes loan fees and unamortized loan costs. |  |

18

DDR Corp.

Unconsolidated Debt Detail

$ in thousands |  | Balance 100% |  |  | Balance DDR Share |  |  | Maturity Date (1) |  |  | GAAP Interest Rate |
BRE DDR Retail Holdings III |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Camp Creek, GA |  |  | $42,000 |  |  |  | $2,100 |  |  |  | 12/18 |  |  |  | 3.65 | %
May 2019 Loan Pool (2 assets) (2) |  |  | 20,093 |  |  |  | 1,005 |  |  |  | 05/19 |  |  |  | 3.28 | %
November 2019 Loan Pool (28 assets) (3) |  |  | 603,650 |  |  |  | 30,183 |  |  |  | 11/19 |  |  |  | 2.90 | %
Whittwood Town Center, CA |  |  | 43,000 |  |  |  | 2,150 |  |  |  | 12/20 |  |  |  | 4.05 | %
January 2022 Loan Pool (3 assets) |  |  | 22,965 |  |  |  | 1,148 |  |  |  | 01/22 |  |  |  | 3.76 | %
Kyle Marketplace, TX |  |  | 24,750 |  |  |  | 1,238 |  |  |  | 03/22 |  |  |  | 3.70 | %
March 2022 Loan Pool (3 assets) |  |  | 23,400 |  |  |  | 1,170 |  |  |  | 03/22 |  |  |  | 4.14 | %
Eastland Center, CA |  |  | 90,000 |  |  |  | 4,500 |  |  |  | 07/22 |  |  |  | 3.97 | %
Greenway Commons, TX |  |  | 33,000 |  |  |  | 1,650 |  |  |  | 07/22 |  |  |  | 3.73 | %
July 2022 Loan Pool (4 assets) (4) |  |  | 17,035 |  |  |  | 852 |  |  |  | 07/22 |  |  |  | 3.74 | %
White Oak Village, VA |  |  | 34,250 |  |  |  | 1,713 |  |  |  | 09/22 |  |  |  | 1.93 | %
Midtowne Park, SC |  |  | 15,736 |  |  |  | 787 |  |  |  | 01/23 |  |  |  | 4.34 | %
Kingsbury Center, IL |  |  | 14,500 |  |  |  | 725 |  |  |  | 06/23 |  |  |  | 4.35 | %
Valley Bend, AL |  |  | 43,500 |  |  |  | 2,175 |  |  |  | 06/23 |  |  |  | 4.22 | %
|  |  | $1,027,879 |  |  |  | $51,396 |  |  |  |  |  |  |  |  |
BRE DDR Retail Holdings IV |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ashbridge Square, PA |  |  | $34,177 |  |  |  | $1,709 |  |  |  | 03/18 |  |  |  | 4.22 | %
The Hub, NY |  |  | 28,500 |  |  |  | 1,425 |  |  |  | 01/22 |  |  |  | 3.84 | %
Fountains of Miramar, FL |  |  | 24,770 |  |  |  | 1,239 |  |  |  | 01/22 |  |  |  | 3.73 | %
Southmont Plaza, PA |  |  | 34,000 |  |  |  | 1,700 |  |  |  | 01/22 |  |  |  | 3.84 | %
Millenia Crossing, FL |  |  | 22,326 |  |  |  | 1,116 |  |  |  | 01/23 |  |  |  | 4.20 | %
Concourse Village, FL |  |  | 13,948 |  |  |  | 697 |  |  |  | 02/24 |  |  |  | 4.32 | %
|  |  | $157,721 |  |  |  | $7,886 |  |  |  |  |  |  |  |  |
DDRM Properties |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
July 2022 Loan Pool (13 Assets) |  |  | $218,730 |  |  |  | $43,746 |  |  |  | 07/22 |  |  |  | 3.77 | %
July 2022 Loan Pool (21 Assets) |  |  | 274,760 |  |  |  | 54,952 |  |  |  | 07/22 |  |  |  | 3.13 | %
July 2022 Loan Pool (18 Assets) |  |  | 213,170 |  |  |  | 42,634 |  |  |  | 07/22 |  |  |  | 3.39 | %
|  |  | $706,660 |  |  |  | $141,332 |  |  |  |  |  |  |  |  |
DDRTC Core Retail Fund |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
July 2020 Loan Pool (10 assets) (5) |  |  | $195,373 |  |  |  | $29,306 |  |  |  | 07/20 |  |  |  | 2.77 | %
July 2020 Loan Pool (6 assets) (5) |  |  | 165,300 |  |  |  | 24,795 |  |  |  | 07/20 |  |  |  | 2.94 | %
November 2021 Loan Pool (7 assets) |  |  | 174,719 |  |  |  | 26,208 |  |  |  | 11/21 |  |  |  | 3.37 | %
Birkdale Village, NC |  |  | 82,275 |  |  |  | 12,341 |  |  |  | 04/24 |  |  |  | 4.31 | %
|  |  | $617,667 |  |  |  | $92,650 |  |  |  |  |  |  |  |  |

19

DDR Corp.

Unconsolidated Debt Detail

$ in thousands |  | Balance 100% |  |  | Balance DDR Share |  |  | Maturity Date (1) |  |  | GAAP Interest Rate |
DDR-SAU Retail Fund |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 2017 Loan Pool (7 assets) |  |  | $28,420 |  |  |  | $5,683 |  |  |  | 09/17 |  |  |  | 4.75% |
April 2018 Loan Pool (5 assets) |  |  | 31,359 |  |  |  | 6,271 |  |  |  | 04/18 |  |  |  | 4.66% |
|  |  | $59,779 |  |  |  | $11,954 |  |  |  |  |  |  |  |  |
Other Joint Ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sun Center Limited, OH |  |  | $21,160 |  |  |  | $16,812 |  |  |  | 05/21 |  |  |  | 6.14% |
RVIP IIIB, Deer Park, IL |  |  | 67,966 |  |  |  | 17,501 |  |  |  | 09/21 |  |  |  | 4.91% |
Lennox Town Center Limited, OH |  |  | 39,500 |  |  |  | 19,750 |  |  |  | 04/28 |  |  |  | 3.49% |
|  |  | $128,626 |  |  |  | $54,063 |  |  |  |  |  |  |  |  |
Unconsolidated Debt Subtotal |  |  | $2,698,332 |  |  |  | $359,281 |  |  |  |  |  |  |  |  |
FMV Adjustment – Assumed Debt |  |  | 13,442 |  |  |  | 672 |  |  |  |  |  |  |  |  |
Unamortized Loan Costs, Net |  |  | (21,107 | ) |  |  | (3,857) |  |  |  |  |  |  |  |  |
Total Unconsolidated Debt |  |  | $2,690,667 |  |  |  | $356,096 |  |  |  |  |  |  |  |  |
Rate Type |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed |  |  | $984,089 |  |  |  | $146,840 |  |  |  | 5.2 years |  |  |  | 4.27% |
Variable |  |  | 1,714,243 |  |  |  | 212,441 |  |  |  | 4.0 years |  |  |  | 3.12% |
|  |  | $2,698,332 |  |  |  | $359,281 |  |  |  | 4.5 years |  |  |  | 3.59% |
Interest Rate Swaps |  | Notional Amount |  |  | Rate Hedged |  |  | Fixed Rate |  |  | Termination Date |
Mortgage Loan Camp Creek |  |  | $42,000 |  |  |  | 1 mo. LIBOR |  |  |  | 1.87 | % |  |  | 12/18 |

(1) Assumes borrower extension options are exercised.

(2) Repaid $12.6 million (at 100%) in July 2017.

(3) Repaid $28.9 million (at 100%) in July 2017.

(4) Repaid $4.1 million (at 100%) in July 2017.

(5) Loans have interest rate floors of 1 month LIBOR at 0.25%.

20

DDR Corp.

Debt/Adjusted EBITDA

$ in thousands |  |  |  |  |  |  |  |
|  |  |  | 2Q17 |  |  | 2Q16 |
Consolidated |  |  |  |  |  |  |  |  |  |
Net income to DDR |  |  |  |  | $29,611 |  |  |  | $41,058 |
Interest expense |  |  |  |  | 48,908 |  |  |  | 54,012 |
Income tax expense |  |  |  |  | 473 |  |  |  | 245 |
Depreciation and amortization |  |  |  |  | 90,276 |  |  |  | 97,698 |
Adjustments for non-controlling interests |  |  |  |  | (174) |  |  |  | (174) |
EBITDA – current quarter |  |  |  |  | 169,094 |  |  |  | 192,839 |
Separation charges |  |  |  |  | 5,081 |  |  |  | 0 |
Impairments |  |  |  |  | 28,096 |  |  |  | 0 |
Equity in net loss (income) of JVs |  |  |  |  | 717 |  |  |  | (1,117) |
Gain on disposition of real estate, net |  |  |  |  | (44,599) |  |  |  | (13,721) |
Other expense (income), net |  |  |  |  | 948 |  |  |  | (7) |
Adjustments for non-controlling interests |  |  |  |  | 0 |  |  |  | (6) |
JV FFO (at DDR Share) |  |  |  |  | 6,816 |  |  |  | 6,446 |
Adjusted EBITDA – current quarter (1) |  |  |  |  | 166,153 |  |  |  | 184,434 |
Adjusted EBITDA – annualized |  |  |  |  | 664,612 |  |  |  | 737,736 |
Consolidated debt |  |  |  |  | 4,566,666 |  |  |  | 4,938,807 |
Partner share of consolidated debt |  |  |  |  | (9,837) |  |  |  | (9,900) |
Loan costs, net |  |  |  |  | 20,505 |  |  |  | 21,148 |
Face value adjustments |  |  |  |  | (4,521) |  |  |  | (9,722) |
Cash and restricted cash |  |  |  |  | (474,986) |  |  |  | (26,785) |
Net effective debt |  |  |  |  | $4,097,827 |  |  |  | $4,913,548 |
Debt/Adjusted EBITDA – Consolidated (2) |  |  |  |  | 6.2x |  |  |  | 6.7x |
Pro rata including JVs |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA – current quarter |  |  |  |  | 170,843 |  |  |  | 189,874 |
Adjusted EBITDA – annualized |  |  |  |  | 683,372 |  |  |  | 759,496 |
Consolidated net debt |  |  |  |  | 4,097,827 |  |  |  | 4,913,548 |
JV debt (at DDR Share) |  |  |  |  | 359,281 |  |  |  | 425,284 |
Cash and restricted cash |  |  |  |  | (17,991) |  |  |  | (9,683) |
Net effective debt |  |  |  |  | $4,439,117 |  |  |  | $5,329,149 |
Debt/Adjusted EBITDA – Pro Rata (2) |  |  |  |  | 6.5x |  |  |  | 7.0x |

(1) See definition in the Non-GAAP Measures section.

(2) Excludes Perpetual Preferred Stock.

21

DDR Corp.

Unconsolidated Joint Ventures

$ and GLA in thousands

|  | Partner |  | DDR Own % |  |  | Operating Properties |  |  | Owned GLA |  |  | 2Q17 NOI at 100% (1) |  |  | Gross Book Value |  |  | Face Value Debt (2) |  |  | DDR Preferred Equity (At 100%) |  |  |  |
BRE DDR Retail Holdings III |  | Blackstone Real Estate Partners |  |  | 5% |  |  |  | 48 |  |  |  | 9,521 |  |  |  | $30,922 |  |  |  | $1,473,403 |  |  |  | $1,027,879 |  |  |  | $249,649 |  |  |  | (3) |
BRE DDR Retail Holdings IV |  | Blackstone Real Estate Partners |  |  | 5% |  |  |  | 6 |  |  |  | 1,259 |  |  |  | 4,164 |  |  |  | 220,199 |  |  |  | 157,721 |  |  |  | 68,532 |  |  |  | (4) |
DDRM Properties |  | Madison International Realty |  |  | 20% |  |  |  | 52 |  |  |  | 7,012 |  |  |  | 17,337 |  |  |  | 1,208,481 |  |  |  | 706,660 |  |  |  | 0 |  |  |  |  |
DDRTC Core Retail Fund |  | TIAA-CREF |  |  | 15% |  |  |  | 25 |  |  |  | 8,206 |  |  |  | 23,828 |  |  |  | 1,502,930 |  |  |  | 617,667 |  |  |  | 0 |  |  |  |  |
DDR–SAU |  | State of Utah |  |  | 20% |  |  |  | 12 |  |  |  | 979 |  |  |  | 2,373 |  |  |  | 135,365 |  |  |  | 59,779 |  |  |  | 0 |  |  |  |  |
Retail Fund |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DDR Domestic |  | Various |  |  | 20% |  |  |  | 3 |  |  |  | 620 |  |  |  | 1,250 |  |  |  | 98,799 |  |  |  | 0 |  |  |  | 0 |  |  |  |  |
Retail Fund I |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other |  | Various |  |  | Various |  |  |  | 3 |  |  |  | 1,046 |  |  |  | 4,270 |  |  |  | 195,488 |  |  |  | 128,626 |  |  |  | 0 |  |  |  |  |
Total |  |  |  |  |  |  |  |  | 149 (5) |  |  |  | 28,643 |  |  |  | $84,144 |  |  |  | $4,834,665 |  |  |  | $2,698,332 |  |  |  | $318,181 |  |  |  |  |
Property management fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,598 | (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets sold in 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 95 | (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net operating income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $88,837 | (6) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

(1) Property management fees charged by DDR to the joint venture are included as an expense in NOI, although presented in the combined income statement on the next page in the line item Other Expense. The NOI for BRE DDR III is adjusted to reflect the impact of assets sold.

(2) Fair market value of debt adjustment and net unamortized loan costs ($7.7 million or $3.2 million at DDR’s Share) are excluded from above.

(3) Amount is net of $70.0 million valuation allowance. Face value of $319.6 million including accrued interest of $5.1 million. The 8.5% dividend rate has two components, a cash dividend rate of 6.5% and an accrued payment in kind (“PIK”) of 2.0%. The Company no longer recognizes the accrued PIK as income due to the valuation allowance. Repayment from net asset sale proceeds is first subject to a remaining minimum sales threshold of $34.3 million payable to common members; subsequent net asset sale proceeds are allocated 49.0% to the preferred member unless certain financial covenants have been triggered, in which event 100% to the preferred member.

(4) Amount is net of $6.0 million valuation allowance. Face value of $74.5 million including accrued interest of $1.2 million. The 8.5% dividend rate has two components, a cash dividend rate of 6.5% and an accrued PIK of 2.0%. The Company no longer recognizes the accrued PIK as income due to the valuation allowance. Repayment from net asset sale proceeds is first subject to a minimum sales threshold of $26.0 million of which $6.0 million is allocated to the preferred member; subsequent net asset sale proceeds are expected to be available to repay the preferred member. Included in the collateral for the preferred equity interest is 95% of the value of the six joint venture properties and 100% of the value of six properties in which the Company does not have a material interest, but to which DDR provides property asset management services.

(5) Excludes one consolidated joint venture asset in which the Company has an effective 67% interest.

(6) Amount agrees to the combined income statement of the joint ventures which includes a reconciliation of the Non-GAAP measure to the applicable GAAP measure. See calculation definition in the Non-GAAP Measures section.

Combined DDR JV Pro Rata Adjustments (7)

Income Statement Pro Rata Adjustments 2Q17 |  |  |  |  | Balance Sheet Pro Rata Adjustments 2Q17 |  |  |
Revenues: |  |  |  |  |  |  |  | Assets: |  |  |  |  |
Minimum rents |  |  | $13,565 |  |  |  |  | Land |  |  | $169,030 |  |
Percentage rent |  |  | 52 |  |  |  |  | Buildings |  |  | 453,042 |  |
Recoveries |  |  | 4,328 |  |  |  |  | Improvements |  |  | 33,831 |  |
Other property revenue |  |  | 207 |  |  |  |  |  |  |  | 655,903 |  |
|  |  | 18,152 |  |  |  |  | Depreciation |  |  | (164,569) |  |
Expenses: |  |  |  |  |  |  |  |  |  |  | 491,334 |  |
Operating and maintenance |  |  | 2,837 |  |  |  |  | Construction in progress and land |  |  | 6,076 |  |
Real estate taxes |  |  | 2,670 |  |  |  |  | Real estate, net |  |  | 497,410 |  |
|  |  | 5,507 |  |  |  |  | Investment in JVs |  |  | 1,239 |  |
Net Operating Income |  |  | 12,645 |  |  |  |  | Cash and restricted cash |  |  | 17,953 |  |
Other Income (expense): |  |  |  |  |  |  |  | Receivables, net |  |  | 7,167 |  |
Fee Income |  |  | (951) |  |  |  |  | Other assets, net |  |  | 17,687 |  |
Interest income |  |  | (412) |  |  |  |  | Total Assets |  |  | $541,456 |  |
Impairment Charges |  |  | (1,392) |  |  |  |  | Liabilities and Equity: |  |  |  |  |
Interest expense |  |  | (4,606) |  |  |  |  | Mortgage debt |  |  | $356,096 |  |
Depreciation and amortization |  |  | (5,747) |  |  |  |  | Notes payable to DDR |  |  | 501 |  |
Other income (expense), net |  |  | (660) |  |  |  |  | Other liabilities |  |  | 17,546 |  |
Loss before earnings from JVs |  |  | (1,123) |  |  |  |  | Total Liabilities |  |  | 374,143 |  |
Equity in net loss of JVs |  |  | 717 |  |  |  |  | JVs share of equity |  |  | 21,078 |  |
Basis differences of JVs |  |  | 446 |  |  |  |  | Distributions in excess of net income |  |  | 146,235 |  |
Loss on disposition of real estate |  |  | (40) |  |  |  |  | Total Equity |  |  | 167,313 |  |
Net income |  |  | $0 |  |  |  |  | Total Liabilities and Equity |  |  | $541,456 |  |

FFO Reconciliation 2Q17 |  |  |  |
Loss before earnings from JVs |  |  | ($1,123) |
Depreciation and amortization |  |  | 5,747 |
Impairment of depreciable real estate |  |  | 1,392 |
Basis differences of JVs |  |  | 196 |
FFO at DDR’s Ownership Interests |  |  | $6,212 |

(7) Information provided for DDR’s share of JV investments and can be combined with DDR’s consolidated financial statements for the same period.

22

DDR Corp.

Unconsolidated Joint Ventures at 100%

$ in thousands |  | Income Statement |  |  |  |  |  |  |  |  |  |
|  | 2Q17 |  |  | 2Q16 |  |  | 6M17 |  |  | 6M16 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Minimum rents |  |  | $94,609 |  |  |  | $96,960 |  |  |  | $190,052 |  |  |  | $193,535 |
Percentage rent |  |  | 567 |  |  |  | 573 |  |  |  | 959 |  |  |  | 904 |
Recoveries |  |  | 29,930 |  |  |  | 30,312 |  |  |  | 59,745 |  |  |  | 60,281 |
Other property revenues |  |  | 1,422 |  |  |  | 1,045 |  |  |  | 2,820 |  |  |  | 2,080 |
|  |  | 126,528 |  |  |  | 128,890 |  |  |  | 253,576 |  |  |  | 256,800 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating and maintenance |  |  | 18,805 |  |  |  | 18,644 |  |  |  | 36,612 |  |  |  | 37,643 |
Real estate taxes |  |  | 18,886 |  |  |  | 18,329 |  |  |  | 37,747 |  |  |  | 36,986 |
|  |  | 37,691 |  |  |  | 36,973 |  |  |  | 74,359 |  |  |  | 74,629 |
Net operating income |  |  | 88,837 |  |  |  | 91,917 |  |  |  | 179,217 |  |  |  | 182,171 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | (29,004) |  |  |  | (33,319) |  |  |  | (59,134) |  |  |  | (66,641) |
Depreciation and amortization |  |  | (47,589) |  |  |  | (49,021) |  |  |  | (92,685) |  |  |  | (98,056) |
Impairment charges |  |  | (27,850) |  |  |  | 0 |  |  |  | (80,507) |  |  |  | 0 |
Preferred share expense |  |  | (8,239) |  |  |  | (8,305) |  |  |  | (16,367) |  |  |  | (16,569) |
Other expense, net |  |  | (9,054) |  |  |  | (6,319) |  |  |  | (15,627) |  |  |  | (12,130) |
|  |  | (32,899) |  |  |  | (5,047) |  |  |  | (85,103) |  |  |  | (11,225) |
(Loss) gain on disposition of real estate, net |  |  | (803) |  |  |  | 114 |  |  |  | (976) |  |  |  | 53,597 |
Net (loss) income attributable to unconsolidated JVs |  |  | (33,702) |  |  |  | (4,933) |  |  |  | (86,079) |  |  |  | 42,372 |
Depreciation and amortization |  |  | 47,589 |  |  |  | 49,021 |  |  |  | 92,685 |  |  |  | 98,056 |
Impairment of depreciable real estate |  |  | 27,850 |  |  |  | 0 |  |  |  | 80,507 |  |  |  | 0 |
Loss (gain) on disposition of real estate, net |  |  | 803 |  |  |  | (114) |  |  |  | 976 |  |  |  | (53,597) |
FFO |  |  | $42,540 |  |  |  | $43,974 |  |  |  | $88,089 |  |  |  | $86,831 |
FFO at DDR’s ownership interests |  |  | $6,212 |  |  |  | $6,426 |  |  |  | $12,794 |  |  |  | $12,576 |
Operating FFO at DDR’s ownership interests |  |  | $6,816 |  |  |  | $6,446 |  |  |  | $13,478 |  |  |  | $12,596 |
Balance Sheet |
|  |  |  |  |  |  |  | At Period End |
|  |  |  |  |  |  |  | 2Q17 |  |  | 4Q16 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land |  |  |  |  |  |  |  |  |  |  | $1,260,115 |  |  |  | $1,287,675 |
Buildings |  |  |  |  |  |  |  |  |  |  | 3,309,410 |  |  |  | 3,376,720 |
Improvements |  |  |  |  |  |  |  |  |  |  | 211,308 |  |  |  | 203,824 |
|  |  |  |  |  |  |  |  |  |  | 4,780,833 |  |  |  | 4,868,219 |
Depreciation |  |  |  |  |  |  |  |  |  |  | (943,437) |  |  |  | (884,356) |
|  |  |  |  |  |  |  |  |  |  | 3,837,396 |  |  |  | 3,983,863 |
Construction in progress and land |  |  |  |  |  |  |  |  |  |  | 53,832 |  |  |  | 56,983 |
Real estate, net |  |  |  |  |  |  |  |  |  |  | 3,891,228 |  |  |  | 4,040,846 |
Cash and restricted cash |  |  |  |  |  |  |  |  |  |  | 83,764 |  |  |  | 50,378 |
Receivables, net |  |  |  |  |  |  |  |  |  |  | 47,449 |  |  |  | 50,685 |
Other assets, net |  |  |  |  |  |  |  |  |  |  | 231,461 |  |  |  | 248,664 |
Total Assets |  |  |  |  |  |  |  |  |  |  | $4,253,902 |  |  |  | $4,390,573 |
Liabilities and Equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage debt |  |  |  |  |  |  |  |  |  |  | $2,690,667 |  |  |  | $3,034,399 |
Notes and accrued interest payable to DDR |  |  |  |  |  |  |  |  |  |  | 2,938 |  |  |  | 1,584 |
Other liabilities |  |  |  |  |  |  |  |  |  |  | 199,596 |  |  |  | 206,949 |
Total Liabilities |  |  |  |  |  |  |  |  |  |  | 2,893,201 |  |  |  | 3,242,932 |
Redeemable preferred equity |  |  |  |  |  |  |  |  |  |  | 394,181 |  |  |  | 393,338 |
Accumulated equity |  |  |  |  |  |  |  |  |  |  | 966,520 |  |  |  | 754,303 |
Total Equity |  |  |  |  |  |  |  |  |  |  | 1,360,701 |  |  |  | 1,147,641 |
Total Liabilities and Equity |  |  |  |  |  |  |  |  |  |  | $4,253,902 |  |  |  | $4,390,573 |

23

DDR Corp.

Notable Accounting and Supplemental Policies

The information contained in the Quarterly Financial Supplement does not purport to disclose all items required by the accounting principles generally accepted in the United States of America (“GAAP”) and is unaudited information. The Company’s Quarterly Financial Supplement should be read in conjunction with the Company’s Form 10-K and Form 10-Q.

Revenues

● |  | Percentage and overage rents are recognized after the tenants’ reported sales have exceeded the applicable sales breakpoint.

● |  | Tenant reimbursements are recognized in the period in which the expenses are incurred.

● |  | Lease termination fees are recognized upon termination of a tenant’s lease when the Company has no further obligations under the lease.

General and Administrative Expenses

● |  | General and administrative expenses include certain internal leasing salaries, legal salaries and related expenses associated with the leasing of space which are charged to operations as incurred.

● |  | The Company does not capitalize any executive officer compensation.

● |  | General and administrative expenses include executive property management compensation and related expenses. Property management services’ direct compensation is reflected in operating and maintenance expenses.

Deferred Financing Costs

● |  | Costs incurred in obtaining term financing are included as a reduction of the related debt liability and costs incurred related to the revolving credit facilities are included in other assets on the consolidated balance sheets. All costs are amortized on a straight-line basis over the term of the related debt agreement; such amortization is reflected as interest expense in the consolidated income statements.

Real Estate

● |  | Real estate assets are stated at cost less accumulated depreciation, which, in the opinion of management, is not in excess of the individual property’s estimated undiscounted future cash flows, including estimated proceeds from disposition.

● |  | Construction in progress includes shopping center developments and significant expansions and redevelopments.

● |  | Acquisitions of a partner’s interest in an unconsolidated joint venture in which a change of control has occurred are recorded at fair value.

● |  | Depreciation and amortization are provided on a straight-line basis over the estimated useful lives of the assets as follows:

|  | Buildings |  | 20 to 40 years
|  | Building Improvements |  | 5 to 20 years
|  | Furniture/Fixtures/ |  | Shorter of economic life or lease terms
|  | Tenant Improvements |  |

24

DDR Corp.

Notable Accounting and Supplemental Policies

Capitalization

● |  | Expenditures for maintenance and repairs are charged to operations as incurred. Renovations and expenditures that improve or extend the life of the asset are capitalized.

● |  | The Company capitalizes interest on funds used for the construction or expansion of shopping centers and certain construction administration costs. Capitalization of interest and administration costs ceases when construction activities are completed and the property is available for occupancy by tenants or when activities are suspended.

● |  | Interest expense and real estate taxes incurred during construction are capitalized and depreciated over the building life. The Company does not capitalize interest on land held for development which is on hold and is not undergoing any development activities.

Gains on Sales of Real Estate

● |  | Gains on sales of real estate generally related to the sale of outlots and land adjacent to existing shopping centers are recognized at closing when the earnings process is deemed to be complete.

● |  | Effective in 2015, the operating activity and the gains or losses on the sales of operating shopping centers are generally no longer reflected as discontinued operations.

Leasing Spreads

● |  | Leasing spreads are calculated by comparing the prior tenant’s annual base rent in the final year of the old lease to the new tenant’s annual base rent in the first year of the new lease. The reported calculation, “Comparable”, only includes deals executed within one year of the date that the prior tenant vacated. “Non-comp” deals consist of deals not executed within one year of the date the prior tenant vacated, deals which resulted in a significant difference in size or deals for space which was vacant at acquisition.

Net Effective Rents

● |  | Net effective rents are calculated as a weighted average per rentable square foot over the lease term with full consideration for all costs associated with leasing the space rather than pro rata costs. Landlord work represents property level improvements associated with the lease transactions; however, those improvements are attributed to the landlord’s property value and typically extend the life of the asset in excess of the lease term.

25

DDR Corp.

Non-GAAP Measures

Performance Measures

FFO and Operating FFO

The Company believes that Funds from Operations (“FFO”) and Operating FFO, both non-GAAP financial measures, provide additional and useful means to assess the financial performance of REITs. FFO and Operating FFO are frequently used by the real estate industry, as well as securities analysts, investors and other interested parties, to evaluate the performance of REITs.

FFO excludes GAAP historical cost depreciation and amortization of real estate and real estate investments, which assume that the value of real estate assets diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions, and many companies use different depreciable lives and methods. Because FFO excludes depreciation and amortization unique to real estate and gains and losses from depreciable property dispositions, it can provide a performance measure that, when compared year over year, reflects the impact on operations from trends in occupancy rates, rental rates, operating costs, interest costs and acquisition, disposition and development activities. This provides a perspective of the Company’s financial performance not immediately apparent from net income determined in accordance with GAAP.

FFO is generally defined and calculated by the Company as net income (loss) (computed in accordance with GAAP), adjusted to exclude (i) preferred share dividends, (ii) gains and losses from disposition of depreciable real estate property and related investments, which are presented net of taxes, (iii) impairment charges on depreciable real estate property and related investments and (iv) certain non-cash items. These non-cash items principally include real property depreciation and amortization of intangibles, equity income (loss) from joint ventures and equity income (loss) from non-controlling interests and adding the Company’s proportionate share of FFO from its unconsolidated joint ventures and non-controlling interests, determined on a consistent basis. The Company’s calculation of FFO is consistent with the definition of FFO provided by the National Association of Real Estate Investment Trusts (“NAREIT”).

The Company believes that certain gains and charges recorded in its operating results are not comparable or reflective of its core operating performance. As a result, the Company also computes Operating FFO and discusses it with the users of its financial statements, in addition to other measures such as net income (loss) determined in accordance with GAAP and FFO. Operating FFO is generally defined and calculated by the Company as FFO excluding certain charges and gains that management believes are not comparable and indicative of the results of the Company’s operating real estate portfolio. Such adjustments include gains on the sale of and/or change in control of interests, gains/losses on the sale of non-depreciable real estate, impairments of non-depreciable real estate, gains/losses on the early extinguishment of debt, transaction costs and other restructuring type costs. The disclosure of these charges and gains is regularly requested by users of the Company’s financial statements.

The adjustment for these charges and gains may not be comparable to how other REITs or real estate companies calculate their results of operations, and the Company’s calculation of Operating FFO differs from NAREIT’s definition of FFO. Additionally, the Company provides no assurances that these charges and gains are non-recurring. These charges and gains could be reasonably expected to recur in future results of operations.

These measures of performance are used by the Company for several business purposes and by other REITs. The Company uses FFO and/or Operating FFO in part (i) as a disclosure to improve the understanding of the Company’s operating results among the investing public, (ii) as a measure of a real estate asset’s performance, (iii) to influence acquisition, disposition and capital investment strategies and (iv) to compare the Company’s performance to that of other publicly traded shopping center REITs. For the reasons described above, management believes that FFO and Operating FFO provide the Company and investors with an important indicator of the Company’s operating performance. They provide recognized measures of performance other than GAAP net income, which may include non-cash items (often significant). Other real estate companies may calculate FFO and Operating FFO in a different manner.

26

DDR Corp.

Non-GAAP Measures

Management recognizes the limitations of FFO and Operating FFO when compared to GAAP’s net income. FFO and Operating FFO do not represent amounts available for dividends, capital replacement or expansion, debt service obligations or other commitments and uncertainties. Management does not use FFO or Operating FFO as an indicator of the Company’s cash obligations and funding requirements for future commitments, acquisitions or development activities. Neither FFO nor Operating FFO represents cash generated from operating activities in accordance with GAAP, and neither is necessarily indicative of cash available to fund cash needs. Neither FFO nor Operating FFO should be considered an alternative to net income (computed in accordance with GAAP) or as an alternative to cash flow as a measure of liquidity. FFO and Operating FFO are simply used as additional indicators of the Company’s operating performance. The Company believes that to further understand its performance, FFO and Operating FFO should be compared with the Company’s reported net income (loss) and considered in addition to cash flows determined in accordance with GAAP, as presented in its condensed consolidated financial statements. Reconciliations of these measures to their most directly comparable GAAP measure of net income (loss) have been provided herein.

Net Operating Income (“NOI”) and Same Store Net Operating Income (“SSNOI”)

The Company uses NOI, which is a non-GAAP financial measure, as a supplemental performance measure. NOI is calculated as property revenues less property-related expenses. The Company believes NOI provides useful information to investors regarding the Company’s financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level and, when compared across periods, reflects the impact on operations from trends in occupancy rates, rental rates, operating costs and acquisition and disposition activity on an unleveraged basis.

The Company also presents NOI information on a same store basis, or SSNOI. The Company defines SSNOI as property revenues less property-related expenses, which exclude straight-line rental income and expenses, lease termination income, management fee expense, fair market value of leases and expense recovery adjustments. The Company presents SSNOI both with and without provisions for uncollectible amounts and/or recoveries thereof. In addition, the Company presents SSNOI both with and without the results of its Puerto Rico portfolio. SSNOI also excludes activity associated with development and major redevelopment and single tenant assets and includes assets owned in comparable periods (15 months for quarter comparisons). SSNOI excludes all non-property and corporate level revenue and expenses. Other real estate companies may calculate NOI and SSNOI in a different manner. The Company believes SSNOI provides investors with additional information regarding the operating performances of comparable assets because it excludes certain non-cash and non-comparable items as noted above. SSNOI is frequently used by the real estate industry, as well as securities analysts, investors and other interested parties, to evaluate the performance of REITs.

The Company believes that SSNOI is not, and is not intended to be, a presentation in accordance with GAAP. SSNOI information has its limitations as it excludes any capital expenditures associated with the re-leasing of tenant space or as needed to operate the assets. SSNOI does not represent amounts available for dividends, capital replacement or expansion, debt service obligations or other commitments and uncertainties. Management does not use SSNOI as an indicator of the Company’s cash obligations and funding requirements for future commitments, acquisitions or development activities. SSNOI does not represent cash generated from operating activities in accordance with GAAP, and is not necessarily indicative of cash available to fund cash needs. SSNOI should not be considered as an alternative to net income (computed in accordance with GAAP) or as an alternative to cash flow as a measure of liquidity. A reconciliation of SSNOI to its most directly comparable GAAP measure of net income (loss) has been provided in the Press Release and this section.

27

DDR Corp.

Non-GAAP Measures

Other Measures

DDR Pro Rata Share Financial Information

The Company believes that the DDR pro rata share of its joint ventures presented in the quarterly supplement is not, and is not intended to be, a presentation in accordance with GAAP. DDR share financial information is frequently used by the real estate industry including securities analysts, investors and other interested parties to evaluate the performance of DDR compared to other REITs. Other real estate companies may calculate such information in a different manner.

DDR does not control the unconsolidated joint ventures and the presentations of DDR JV Pro Rata Adjustments of the unconsolidated joint ventures presented in the quarterly supplement do not represent the Company’s legal claim to such items. The Company provides this information because the Company believes it assists investors and analysts in estimating the effective interest in DDR’s unconsolidated joint ventures when read in conjunction with the Company’s reported results under GAAP. The presentation of this information has limitations as an analytical tool. Because of the limitations, this information should not be considered in isolation or as a substitute for the Company’s financial statements as reported under GAAP.

Debt/Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA)

The Company uses the ratio Debt to Adjusted EBITDA (“Debt/Adjusted EBITDA”) as it believes it provides a meaningful metric as it relates to the Company’s ability to meet various leverage tests for the corresponding periods.

The Components of Debt/Adjusted EBITDA include net effective debt divided by adjusted EBITDA (annualized), as opposed to net income determined in accordance with GAAP. Adjusted EBITDA is calculated as net income attributable to DDR before interest, income taxes, depreciation and amortization and further adjusted to eliminate the impact of certain items that the Company does not consider indicative of its ongoing performance. Net effective debt is calculated as the Company’s consolidated debt outstanding excluding unamortized loan costs and fair market value adjustments, less cash and restricted cash as of the balance sheet date presented. Such amounts are calculated at the Company’s proportionate share of ownership.

Adjusted EBITDA should not be considered as an alternative to earnings as an indicator of the Company’s financial performance, or an alternative to cash flow from operating activities as a measure of liquidity. The Company’s calculation of Adjusted EBITDA may differ from the methodology utilized by other companies. Investors are cautioned that items excluded from Adjusted EBITDA are significant components in understanding and assessing the Company’s financial condition. A reconciliation of Adjusted EBITDA and net effective debt used in the Debt/Adjusted EBITDA ratio to their most directly comparable GAAP measures of net income (loss) and debt has been provided in the Debt Summary section.

28

DDR Corp.

Reconciliation of Net Income Attributable to DDR to NOI

$ in thousands |  |  |  |  |  |  |  |  |  |  |  |
|  | 2Q17 |  |  | 2Q16 |  |  | 6M17 |  |  | 6M16 |
GAAP Reconciliation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to DDR |  |  | $29,611 |  |  |  | $41,058 |  |  |  | ($24,630) |  |  |  | $86,631 |
Fee income |  |  | (8,787) |  |  |  | (11,465) |  |  |  | (18,226) |  |  |  | (19,643) |
Interest income |  |  | (7,166) |  |  |  | (9,446) |  |  |  | (15,558) |  |  |  | (18,496) |
Interest expense |  |  | 48,908 |  |  |  | 54,012 |  |  |  | 100,735 |  |  |  | 111,909 |
Depreciation and amortization |  |  | 90,276 |  |  |  | 97,698 |  |  |  | 181,160 |  |  |  | 194,600 |
General and administrative |  |  | 22,756 |  |  |  | 18,499 |  |  |  | 53,828 |  |  |  | 36,375 |
Other expense |  |  | 954 |  |  |  | (2,081) |  |  |  | 958 |  |  |  | (3,854) |
Impairment charges |  |  | 28,096 |  |  |  | 0 |  |  |  | 50,069 |  |  |  | 0 |
Equity in net loss (income) of joint ventures |  |  | 717 |  |  |  | (1,117) |  |  |  | 2,382 |  |  |  | (15,538) |
Reserve of preferred equity interests |  |  | 0 |  |  |  | 0 |  |  |  | 76,000 |  |  |  | 0 |
Tax expense |  |  | 473 |  |  |  | 245 |  |  |  | 696 |  |  |  | 703 |
Gain on disposition of real estate |  |  | (44,599) |  |  |  | (13,721) |  |  |  | (82,726) |  |  |  | (26,102) |
Income from non-controlling interests |  |  | 267 |  |  |  | 310 |  |  |  | 480 |  |  |  | 610 |
Consolidated NOI |  |  | 161,506 |  |  |  | 173,992 |  |  |  | 325,168 |  |  |  | 347,195 |
Net (loss) income from unconsolidated joint ventures |  |  | (33,702) |  |  |  | (4,933) |  |  |  | (86,079) |  |  |  | 42,372 |
Interest expense |  |  | 29,004 |  |  |  | 33,319 |  |  |  | 59,134 |  |  |  | 66,641 |
Depreciation and amortization |  |  | 47,589 |  |  |  | 49,021 |  |  |  | 92,685 |  |  |  | 98,056 |
Impairment charges |  |  | 27,850 |  |  |  | 0 |  |  |  | 80,507 |  |  |  | 0 |
Preferred share expense |  |  | 8,239 |  |  |  | 8,305 |  |  |  | 16,367 |  |  |  | 16,569 |
Other expense, net |  |  | 9,054 |  |  |  | 6,319 |  |  |  | 15,627 |  |  |  | 12,130 |
Loss (gain) on disposition of real estate, net |  |  | 803 |  |  |  | (114) |  |  |  | 976 |  |  |  | (53,597) |
Unconsolidated NOI |  |  | 88,837 |  |  |  | 91,917 |  |  |  | 179,217 |  |  |  | 182,171 |
Total Consolidated + Unconsolidated NOI |  |  | $250,343 |  |  |  | $265,909 |  |  |  | $504,385 |  |  |  | $529,366 |

29

DDR Corp.

Leasing Summary

Wholly Owned at 100%

Leasing Activity

|  | Comparable Pool |  |  |  |  |  | Total Pool |
|  |  |  |  |  |  |  | New |  |  | Prior |  |  |  |  |  | Wtd Avg |  |  |  |  |  |  |  |  |  |  |  | New |  |  | Wtd Avg |
|  |  |  |  |  |  |  | Rent |  |  | Rent |  |  | Rent |  |  | Term |  |  |  |  |  |  |  |  |  |  |  | Rent |  |  | Term |
|  | Count |  |  | GLA |  |  | PSF |  |  | PSF |  |  | Spread |  |  | (Years) |  |  |  |  |  | Count |  |  | GLA |  |  | PSF |  |  | (Years) |
New Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  | 13 |  |  |  | 140,902 |  |  |  | $14.98 |  |  |  | $13.49 |  |  |  | 11.0% |  |  |  | 9.4 |  |  |  |  |  |  |  | 41 |  |  |  | 384,089 |  |  |  | $16.29 |  |  |  | 9.6 |
1Q17 |  |  | 22 |  |  |  | 345,571 |  |  |  | 10.74 |  |  |  | 10.58 |  |  |  | 1.5% | (1) |  |  | 10.5 |  |  |  |  |  |  |  | 43 |  |  |  | 521,154 |  |  |  | 12.36 |  |  |  | 10.3 |
4Q16 |  |  | 18 |  |  |  | 106,254 |  |  |  | 17.52 |  |  |  | 15.36 |  |  |  | 14.1% |  |  |  | 7.7 |  |  |  |  |  |  |  | 34 |  |  |  | 157,284 |  |  |  | 17.49 |  |  |  | 7.7 |
3Q16 |  |  | 22 |  |  |  | 115,299 |  |  |  | 19.96 |  |  |  | 16.17 |  |  |  | 23.4% |  |  |  | 7.9 |  |  |  |  |  |  |  | 44 |  |  |  | 233,986 |  |  |  | 18.68 |  |  |  | 8.4 |
|  |  | 75 |  |  |  | 708,026 |  |  |  | $14.10 |  |  |  | $12.79 |  |  |  | 10.2% |  |  |  | 9.1 |  |  |  |  |  |  |  | 162 |  |  |  | 1,296,513 |  |  |  | $15.29 |  |  |  | 9.3 |
Renewals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  | 103 |  |  |  | 1,416,278 |  |  |  | $13.78 |  |  |  | $13.05 |  |  |  | 5.6% |  |  |  | 5.2 |  |  |  |  |  |  |  | 103 |  |  |  | 1,416,278 |  |  |  | $13.78 |  |  |  | 5.2 |
1Q17 |  |  | 115 |  |  |  | 1,075,518 |  |  |  | 15.74 |  |  |  | 14.83 |  |  |  | 6.1% |  |  |  | 4.7 |  |  |  |  |  |  |  | 115 |  |  |  | 1,075,518 |  |  |  | 15.74 |  |  |  | 4.7 |
4Q16 |  |  | 98 |  |  |  | 982,247 |  |  |  | 13.64 |  |  |  | 12.94 |  |  |  | 5.4% |  |  |  | 5.2 |  |  |  |  |  |  |  | 98 |  |  |  | 982,247 |  |  |  | 13.64 |  |  |  | 5.2 |
3Q16 |  |  | 114 |  |  |  | 1,341,534 |  |  |  | 14.56 |  |  |  | 13.48 |  |  |  | 8.0% |  |  |  | 5.6 |  |  |  |  |  |  |  | 114 |  |  |  | 1,341,534 |  |  |  | 14.56 |  |  |  | 5.6 |
|  |  | 430 |  |  |  | 4,815,577 |  |  |  | $14.41 |  |  |  | $13.54 |  |  |  | 6.4% |  |  |  | 5.2 |  |  |  |  |  |  |  | 430 |  |  |  | 4,815,577 |  |  |  | $14.41 |  |  |  | 5.2 |
New + Renewals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  | 116 |  |  |  | 1,557,180 |  |  |  | $13.89 |  |  |  | $13.09 |  |  |  | 6.1% |  |  |  | 5.6 |  |  |  |  |  |  |  | 144 |  |  |  | 1,800,367 |  |  |  | $14.32 |  |  |  | 6.3 |
1Q17 |  |  | 137 |  |  |  | 1,421,089 |  |  |  | 14.53 |  |  |  | 13.79 |  |  |  | 5.4% |  |  |  | 5.8 |  |  |  |  |  |  |  | 158 |  |  |  | 1,596,672 |  |  |  | 14.64 |  |  |  | 6.3 |
4Q16 |  |  | 116 |  |  |  | 1,088,501 |  |  |  | 14.02 |  |  |  | 13.18 |  |  |  | 6.4% |  |  |  | 5.5 |  |  |  |  |  |  |  | 132 |  |  |  | 1,139,531 |  |  |  | 14.18 |  |  |  | 5.6 |
3Q16 |  |  | 136 |  |  |  | 1,456,833 |  |  |  | 14.99 |  |  |  | 13.69 |  |  |  | 9.5% |  |  |  | 5.8 |  |  |  |  |  |  |  | 158 |  |  |  | 1,575,520 |  |  |  | 15.17 |  |  |  | 6.1 |
|  |  | 505 |  |  |  | 5,523,603 |  |  |  | $14.37 |  |  |  | $13.45 |  |  |  | 6.8% |  |  |  | 5.7 |  |  |  |  |  |  |  | 592 |  |  |  | 6,112,090 |  |  |  | $14.60 |  |  |  | 6.1 |
Net Effective Rents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Avg |  |  | TA |  |  | LL Work |  |  | Commission |  |  | Total |  |  | Net |  |  | Wtd Avg |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Rent |  |  | Capex |  |  | Capex |  |  | Capex |  |  | Capex |  |  | Effective |  |  | Term |  |  |  |  |  |  |
|  |  |  |  | GLA |  |  | PSF |  |  | PSF |  |  | PSF |  |  | PSF |  |  | PSF |  |  | Rent PSF |  |  | (Years) |  |  |  |  |  |  |
New Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  |  |  |  |  | 235,253 |  |  |  | $17.02 |  |  |  | $3.29 |  |  |  | $4.19 |  |  |  | $0.35 |  |  |  | $7.83 |  |  |  | $9.19 |  |  |  | 8.6 |  |  |  |  |  |  |  |  |
1Q17 |  |  |  |  |  |  | 376,987 |  |  |  | 12.47 |  |  |  | 1.93 |  |  |  | 1.32 |  |  |  | 0.21 |  |  |  | 3.46 |  |  |  | 9.01 |  |  |  | 9.9 |  |  |  |  |  |  |  |  |
4Q16 |  |  |  |  |  |  | 145,784 |  |  |  | 18.40 |  |  |  | 2.15 |  |  |  | 1.59 |  |  |  | 0.47 |  |  |  | 4.21 |  |  |  | 14.19 |  |  |  | 7.5 |  |  |  |  |  |  |  |  |
3Q16 |  |  |  |  |  |  | 223,113 |  |  |  | 19.37 |  |  |  | 2.58 |  |  |  | 2.64 |  |  |  | 0.41 |  |  |  | 5.63 |  |  |  | 13.74 |  |  |  | 8.3 |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  | 981,137 |  |  |  | $16.01 |  |  |  | $2.43 |  |  |  | $2.30 |  |  |  | $0.32 |  |  |  | $5.05 |  |  |  | $10.96 |  |  |  | 8.8 |  |  |  |  |  |  |  |  |
Renewals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  |  |  |  |  | 1,416,278 |  |  |  | $13.94 |  |  |  | $0.07 |  |  |  | $0.00 |  |  |  | $0.00 |  |  |  | $0.07 |  |  |  | $13.87 |  |  |  | 5.2 |  |  |  |  |  |  |  |  |
1Q17 |  |  |  |  |  |  | 1,075,518 |  |  |  | 15.87 |  |  |  | 0.01 |  |  |  | 0.00 |  |  |  | 0.00 |  |  |  | 0.01 |  |  |  | 15.86 |  |  |  | 4.7 |  |  |  |  |  |  |  |  |
4Q16 |  |  |  |  |  |  | 982,247 |  |  |  | 13.83 |  |  |  | 0.01 |  |  |  | 0.02 |  |  |  | 0.00 |  |  |  | 0.03 |  |  |  | 13.80 |  |  |  | 5.2 |  |  |  |  |  |  |  |  |
3Q16 |  |  |  |  |  |  | 1,341,534 |  |  |  | 14.71 |  |  |  | 0.77 |  |  |  | 0.00 |  |  |  | 0.04 |  |  |  | 0.81 |  |  |  | 13.90 |  |  |  | 5.6 |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  | 4,815,577 |  |  |  | $14.56 |  |  |  | $0.26 |  |  |  | $0.01 |  |  |  | $0.01 |  |  |  | $0.28 |  |  |  | $14.28 |  |  |  | 5.2 |  |  |  |  |  |  |  |  |

(1) Excluding the retenanting of a dark but rent-paying anchor box at Plaza del Norte, new leasing spreads for 1Q17 and TTM would be 15.1% and 15.9%, respectively. Excluding Puerto Rico, domestic new leasing spreads for 1Q17 and TTM would be 17.3% and 16.6%, respectively.

30

DDR Corp.

Leasing Summary

Unconsolidated Joint Ventures at 100%

Leasing Activity

|  | Comparable Pool |  |  |  |  |  | Total Pool |
|  |  |  |  |  |  |  | New |  |  | Prior |  |  |  |  |  | Wtd Avg |  |  |  |  |  |  |  |  |  |  |  | New |  |  | Wtd Avg |
|  |  |  |  |  |  |  | Rent |  |  | Rent |  |  | Rent |  |  | Term |  |  |  |  |  |  |  |  |  |  |  | Rent |  |  | Term |
|  | Count |  |  | GLA |  |  | PSF |  |  | PSF |  |  | Spread |  |  | (Years) |  |  |  |  |  | Count |  |  | GLA |  |  | PSF |  |  | (Years) |
New Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  | 15 |  |  |  | 55,828 |  |  |  | $17.93 |  |  |  | $20.06 |  |  |  | -10.6% |  |  |  | 7.6 |  |  |  |  |  |  |  | 32 |  |  |  | 198,554 |  |  |  | $15.70 |  |  |  | 9.9 |
1Q17 |  |  | 17 |  |  |  | 127,830 |  |  |  | 11.73 |  |  |  | 9.31 |  |  |  | 26.0% |  |  |  | 8.6 |  |  |  |  |  |  |  | 35 |  |  |  | 250,171 |  |  |  | 12.74 |  |  |  | 8.9 |
4Q16 |  |  | 19 |  |  |  | 75,985 |  |  |  | 23.54 |  |  |  | 20.80 |  |  |  | 13.2% |  |  |  | 8.3 |  |  |  |  |  |  |  | 39 |  |  |  | 251,250 |  |  |  | 18.93 |  |  |  | 9.0 |
3Q16 |  |  | 20 |  |  |  | 66,878 |  |  |  | 19.98 |  |  |  | 19.89 |  |  |  | 0.5% |  |  |  | 7.9 |  |  |  |  |  |  |  | 39 |  |  |  | 193,393 |  |  |  | 16.06 |  |  |  | 8.4 |
|  |  | 71 |  |  |  | 326,521 |  |  |  | $17.23 |  |  |  | $15.99 |  |  |  | 7.8% |  |  |  | 8.2 |  |  |  |  |  |  |  | 145 |  |  |  | 893,368 |  |  |  | $15.86 |  |  |  | 9.0 |
Renewals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  | 82 |  |  |  | 684,452 |  |  |  | $14.38 |  |  |  | $13.64 |  |  |  | 5.4% |  |  |  | 4.8 |  |  |  |  |  |  |  | 82 |  |  |  | 684,452 |  |  |  | $14.38 |  |  |  | 4.8 |
1Q17 |  |  | 92 |  |  |  | 582,645 |  |  |  | 18.07 |  |  |  | 17.21 |  |  |  | 5.0% |  |  |  | 4.7 |  |  |  |  |  |  |  | 92 |  |  |  | 582,645 |  |  |  | 18.07 |  |  |  | 4.7 |
4Q16 |  |  | 101 |  |  |  | 503,077 |  |  |  | 17.80 |  |  |  | 16.26 |  |  |  | 9.5% |  |  |  | 5.1 |  |  |  |  |  |  |  | 101 |  |  |  | 503,077 |  |  |  | 17.80 |  |  |  | 5.1 |
3Q16 |  |  | 113 |  |  |  | 1,116,635 |  |  |  | 13.68 |  |  |  | 12.97 |  |  |  | 5.5% |  |  |  | 5.2 |  |  |  |  |  |  |  | 113 |  |  |  | 1,116,635 |  |  |  | 13.68 |  |  |  | 5.2 |
|  |  | 388 |  |  |  | 2,886,809 |  |  |  | $15.45 |  |  |  | $14.56 |  |  |  | 6.1% |  |  |  | 5.0 |  |  |  |  |  |  |  | 388 |  |  |  | 2,886,809 |  |  |  | $15.45 |  |  |  | 5.0 |
New + Renewals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  | 97 |  |  |  | 740,280 |  |  |  | $14.65 |  |  |  | $14.12 |  |  |  | 3.8% |  |  |  | 5.1 |  |  |  |  |  |  |  | 114 |  |  |  | 883,006 |  |  |  | $14.68 |  |  |  | 6.1 |
1Q17 |  |  | 109 |  |  |  | 710,475 |  |  |  | 16.93 |  |  |  | 15.79 |  |  |  | 7.2% |  |  |  | 5.2 |  |  |  |  |  |  |  | 127 |  |  |  | 832,816 |  |  |  | 16.47 |  |  |  | 5.7 |
4Q16 |  |  | 120 |  |  |  | 579,062 |  |  |  | 18.55 |  |  |  | 16.85 |  |  |  | 10.1% |  |  |  | 5.6 |  |  |  |  |  |  |  | 140 |  |  |  | 754,327 |  |  |  | 18.18 |  |  |  | 6.4 |
3Q16 |  |  | 133 |  |  |  | 1,183,513 |  |  |  | 14.04 |  |  |  | 13.37 |  |  |  | 5.0% |  |  |  | 5.5 |  |  |  |  |  |  |  | 152 |  |  |  | 1,310,028 |  |  |  | 14.03 |  |  |  | 5.8 |
|  |  | 459 |  |  |  | 3,213,330 |  |  |  | $15.63 |  |  |  | $14.71 |  |  |  | 6.3% |  |  |  | 5.4 |  |  |  |  |  |  |  | 533 |  |  |  | 3,780,177 |  |  |  | $15.55 |  |  |  | 6.0 |
Net Effective Rents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Avg |  |  | TA |  |  | LL Work |  |  | Commission |  |  | Total |  |  | Net |  |  | Wtd Avg |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Rent |  |  | Capex |  |  | Capex |  |  | Capex |  |  | Capex |  |  | Effective |  |  | Term |  |  |  |  |  |  |
|  |  |  |  | GLA |  |  | PSF |  |  | PSF |  |  | PSF |  |  | PSF |  |  | PSF |  |  | Rent PSF |  |  | (Years) |  |  |  |  |  |  |
New Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  |  |  |  |  | 198,554 |  |  |  | $16.88 |  |  |  | $4.08 |  |  |  | $0.84 |  |  |  | $0.37 |  |  |  | $5.29 |  |  |  | $11.59 |  |  |  | 9.9 |  |  |  |  |  |  |  |  |
1Q17 |  |  |  |  |  |  | 229,171 |  |  |  | 13.04 |  |  |  | 1.31 |  |  |  | 1.96 |  |  |  | 0.30 |  |  |  | 3.57 |  |  |  | 9.47 |  |  |  | 8.7 |  |  |  |  |  |  |  |  |
4Q16 |  |  |  |  |  |  | 251,250 |  |  |  | 19.96 |  |  |  | 4.54 |  |  |  | 1.62 |  |  |  | 0.28 |  |  |  | 6.44 |  |  |  | 13.52 |  |  |  | 9.0 |  |  |  |  |  |  |  |  |
3Q16 |  |  |  |  |  |  | 191,193 |  |  |  | 16.44 |  |  |  | 3.10 |  |  |  | 0.90 |  |  |  | 0.41 |  |  |  | 4.41 |  |  |  | 12.03 |  |  |  | 8.3 |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  | 870,168 |  |  |  | $16.66 |  |  |  | $3.27 |  |  |  | $1.40 |  |  |  | $0.33 |  |  |  | $5.00 |  |  |  | $11.66 |  |  |  | 9.0 |  |  |  |  |  |  |  |  |
Renewals |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2Q17 |  |  |  |  |  |  | 684,452 |  |  |  | $14.53 |  |  |  | $0.03 |  |  |  | $0.02 |  |  |  | $0.00 |  |  |  | $0.05 |  |  |  | $14.48 |  |  |  | 4.8 |  |  |  |  |  |  |  |  |
1Q17 |  |  |  |  |  |  | 582,645 |  |  |  | 18.29 |  |  |  | 0.03 |  |  |  | 0.00 |  |  |  | 0.00 |  |  |  | 0.03 |  |  |  | 18.26 |  |  |  | 4.7 |  |  |  |  |  |  |  |  |
4Q16 |  |  |  |  |  |  | 503,077 |  |  |  | 18.10 |  |  |  | 0.04 |  |  |  | 0.00 |  |  |  | 0.00 |  |  |  | 0.04 |  |  |  | 18.06 |  |  |  | 5.1 |  |  |  |  |  |  |  |  |
3Q16 |  |  |  |  |  |  | 1,116,635 |  |  |  | 13.83 |  |  |  | 0.07 |  |  |  | 0.00 |  |  |  | 0.00 |  |  |  | 0.07 |  |  |  | 13.76 |  |  |  | 5.2 |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  | 2,886,809 |  |  |  | $15.64 |  |  |  | $0.05 |  |  |  | $0.00 |  |  |  | $0.00 |  |  |  | $0.05 |  |  |  | $15.59 |  |  |  | 5.0 |  |  |  |  |  |  |  |  |

31

DDR Corp.

Lease Expirations

Wholly Owned at 100%; $ and GLA in thousands

Assumes no exercise of lease options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Greater than 10K SF |  |  |  |  |  | Less than 10K SF |  |  |  |  |  | Total |
|  | # of |  |  | Expiring |  |  |  |  |  | Rent |  |  | % of ABR |  |  |  |  |  | # of |  |  | Expiring |  |  |  |  |  | Rent |  |  | % of ABR |  |  |  |  |  | # of |  |  | Expiring |  |  |  |  |  | Rent |  |  | % of ABR |
Year |  | Leases |  |  | SF |  |  | ABR |  |  | PSF |  |  | > 10K |  |  |  |  |  | Leases |  |  | SF |  |  | ABR |  |  | PSF |  |  | < 10K |  |  |  |  |  | Leases |  |  | SF |  |  | ABR |  |  | PSF |  |  | Total |
MTM |  |  | 6 |  |  |  | 142 |  |  |  | $1,900 |  |  |  | $13.38 |  |  |  | 0.5% |  |  |  |  |  |  |  | 75 |  |  |  | 132 |  |  |  | $4,308 |  |  |  | $32.64 |  |  |  | 2.0% |  |  |  |  |  |  |  | 81 |  |  |  | 274 |  |  |  | $6,208 |  |  |  | $22.66 |  |  |  | 1.1% |
2017 |  |  | 16 |  |  |  | 632 |  |  |  | 6,057 |  |  |  | $9.58 |  |  |  | 1.7% |  |  |  |  |  |  |  | 149 |  |  |  | 396 |  |  |  | 9,573 |  |  |  | $24.17 |  |  |  | 4.6% |  |  |  |  |  |  |  | 165 |  |  |  | 1,028 |  |  |  | 15,630 |  |  |  | $15.20 |  |  |  | 2.7% |
2018 |  |  | 97 |  |  |  | 3,012 |  |  |  | 38,206 |  |  |  | $12.68 |  |  |  | 10.6% |  |  |  |  |  |  |  | 448 |  |  |  | 1,350 |  |  |  | 36,037 |  |  |  | $26.69 |  |  |  | 17.1% |  |  |  |  |  |  |  | 545 |  |  |  | 4,362 |  |  |  | 74,243 |  |  |  | $17.02 |  |  |  | 13.0% |
2019 |  |  | 110 |  |  |  | 3,828 |  |  |  | 46,777 |  |  |  | $12.22 |  |  |  | 13.0% |  |  |  |  |  |  |  | 380 |  |  |  | 1,039 |  |  |  | 28,095 |  |  |  | $27.04 |  |  |  | 13.4% |  |  |  |  |  |  |  | 490 |  |  |  | 4,867 |  |  |  | 74,872 |  |  |  | $15.38 |  |  |  | 13.1% |
2020 |  |  | 93 |  |  |  | 3,116 |  |  |  | 40,380 |  |  |  | $12.96 |  |  |  | 11.2% |  |  |  |  |  |  |  | 372 |  |  |  | 978 |  |  |  | 27,187 |  |  |  | $27.80 |  |  |  | 12.9% |  |  |  |  |  |  |  | 465 |  |  |  | 4,094 |  |  |  | 67,567 |  |  |  | $16.50 |  |  |  | 11.8% |
2021 |  |  | 122 |  |  |  | 3,997 |  |  |  | 50,797 |  |  |  | $12.71 |  |  |  | 14.1% |  |  |  |  |  |  |  | 340 |  |  |  | 1,005 |  |  |  | 25,650 |  |  |  | $25.52 |  |  |  | 12.2% |  |  |  |  |  |  |  | 462 |  |  |  | 5,002 |  |  |  | 76,447 |  |  |  | $15.28 |  |  |  | 13.4% |
2022 |  |  | 139 |  |  |  | 4,580 |  |  |  | 56,718 |  |  |  | $12.38 |  |  |  | 15.7% |  |  |  |  |  |  |  | 269 |  |  |  | 807 |  |  |  | 22,472 |  |  |  | $27.85 |  |  |  | 10.7% |  |  |  |  |  |  |  | 408 |  |  |  | 5,387 |  |  |  | 79,190 |  |  |  | $14.70 |  |  |  | 13.9% |
2023 |  |  | 80 |  |  |  | 2,580 |  |  |  | 31,024 |  |  |  | $12.02 |  |  |  | 8.6% |  |  |  |  |  |  |  | 144 |  |  |  | 568 |  |  |  | 14,408 |  |  |  | $25.37 |  |  |  | 6.9% |  |  |  |  |  |  |  | 224 |  |  |  | 3,148 |  |  |  | 45,432 |  |  |  | $14.43 |  |  |  | 8.0% |
2024 |  |  | 58 |  |  |  | 1,728 |  |  |  | 22,001 |  |  |  | $12.73 |  |  |  | 6.1% |  |  |  |  |  |  |  | 137 |  |  |  | 531 |  |  |  | 14,397 |  |  |  | $27.11 |  |  |  | 6.9% |  |  |  |  |  |  |  | 195 |  |  |  | 2,259 |  |  |  | 36,398 |  |  |  | $16.11 |  |  |  | 6.4% |
2025 |  |  | 47 |  |  |  | 1,089 |  |  |  | 16,423 |  |  |  | $15.08 |  |  |  | 4.6% |  |  |  |  |  |  |  | 102 |  |  |  | 379 |  |  |  | 10,221 |  |  |  | $26.97 |  |  |  | 4.9% |  |  |  |  |  |  |  | 149 |  |  |  | 1,468 |  |  |  | 26,644 |  |  |  | $18.15 |  |  |  | 4.7% |
2026 |  |  | 34 |  |  |  | 850 |  |  |  | 12,938 |  |  |  | $15.22 |  |  |  | 3.6% |  |  |  |  |  |  |  | 110 |  |  |  | 398 |  |  |  | 11,635 |  |  |  | $29.23 |  |  |  | 5.5% |  |  |  |  |  |  |  | 144 |  |  |  | 1,248 |  |  |  | 24,573 |  |  |  | $19.69 |  |  |  | 4.3% |
Thereafter |  |  | 53 |  |  |  | 2,228 |  |  |  | 37,086 |  |  |  | $16.65 |  |  |  | 10.3% |  |  |  |  |  |  |  | 61 |  |  |  | 234 |  |  |  | 6,165 |  |  |  | $26.35 |  |  |  | 2.9% |  |  |  |  |  |  |  | 114 |  |  |  | 2,462 |  |  |  | 43,251 |  |  |  | $17.57 |  |  |  | 7.6% |
Total |  |  | 855 |  |  |  | 27,782 |  |  |  | $360,307 |  |  |  | $12.97 |  |  |  | 100.0% |  |  |  |  |  |  |  | 2,587 |  |  |  | 7,817 |  |  |  | $210,148 |  |  |  | $26.88 |  |  |  | 100.0% |  |  |  |  |  |  |  | 3,442 |  |  |  | 35,599 |  |  |  | $570,455 |  |  |  | $16.02 |  |  |  | 100.0% |
Assumes all lease options are exercised |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Greater than 10K SF |  |  |  |  |  | Less than 10K SF |  |  |  |  |  | Total |
|  | # of |  |  | Expiring |  |  |  |  |  | Rent |  |  | % of ABR |  |  |  |  |  | # of |  |  | Expiring |  |  |  |  |  | Rent |  |  | % of ABR |  |  |  |  |  | # of |  |  | Expiring |  |  |  |  |  | Rent |  |  | % of ABR |
Year |  | Leases |  |  | SF |  |  | ABR |  |  | PSF |  |  | > 10K |  |  |  |  |  | Leases |  |  | SF |  |  | ABR |  |  | PSF |  |  | < 10K |  |  |  |  |  | Leases |  |  | SF |  |  | ABR |  |  | PSF |  |  | Total |
MTM |  |  | 4 |  |  |  | 61 |  |  |  | $904 |  |  |  | $14.82 |  |  |  | 0.3% |  |  |  |  |  |  |  | 71 |  |  |  | 122 |  |  |  | $4,114 |  |  |  | $33.72 |  |  |  | 2.0% |  |  |  |  |  |  |  | 75 |  |  |  | 183 |  |  |  | $5,018 |  |  |  | $27.42 |  |  |  | 0.9% |
2017 |  |  | 4 |  |  |  | 109 |  |  |  | 988 |  |  |  | $9.06 |  |  |  | 0.3% |  |  |  |  |  |  |  | 100 |  |  |  | 249 |  |  |  | 6,089 |  |  |  | $24.45 |  |  |  | 2.9% |  |  |  |  |  |  |  | 104 |  |  |  | 358 |  |  |  | 7,077 |  |  |  | $19.77 |  |  |  | 1.2% |
2018 |  |  | 19 |  |  |  | 329 |  |  |  | 3,701 |  |  |  | $11.25 |  |  |  | 1.0% |  |  |  |  |  |  |  | 262 |  |  |  | 697 |  |  |  | 20,082 |  |  |  | $28.81 |  |  |  | 9.6% |  |  |  |  |  |  |  | 281 |  |  |  | 1,026 |  |  |  | 23,783 |  |  |  | $23.18 |  |  |  | 4.2% |
2019 |  |  | 11 |  |  |  | 202 |  |  |  | 3,251 |  |  |  | $16.09 |  |  |  | 0.9% |  |  |  |  |  |  |  | 231 |  |  |  | 578 |  |  |  | 16,604 |  |  |  | $28.73 |  |  |  | 7.9% |  |  |  |  |  |  |  | 242 |  |  |  | 780 |  |  |  | 19,855 |  |  |  | $25.46 |  |  |  | 3.5% |
2020 |  |  | 14 |  |  |  | 243 |  |  |  | 4,486 |  |  |  | $18.46 |  |  |  | 1.2% |  |  |  |  |  |  |  | 205 |  |  |  | 463 |  |  |  | 14,746 |  |  |  | $31.85 |  |  |  | 7.0% |  |  |  |  |  |  |  | 219 |  |  |  | 706 |  |  |  | 19,232 |  |  |  | $27.24 |  |  |  | 3.4% |
2021 |  |  | 14 |  |  |  | 287 |  |  |  | 5,186 |  |  |  | $18.07 |  |  |  | 1.4% |  |  |  |  |  |  |  | 186 |  |  |  | 461 |  |  |  | 12,700 |  |  |  | $27.55 |  |  |  | 6.0% |  |  |  |  |  |  |  | 200 |  |  |  | 748 |  |  |  | 17,886 |  |  |  | $23.91 |  |  |  | 3.1% |
2022 |  |  | 21 |  |  |  | 376 |  |  |  | 6,232 |  |  |  | $16.57 |  |  |  | 1.7% |  |  |  |  |  |  |  | 182 |  |  |  | 447 |  |  |  | 13,637 |  |  |  | $30.51 |  |  |  | 6.5% |  |  |  |  |  |  |  | 203 |  |  |  | 823 |  |  |  | 19,869 |  |  |  | $24.14 |  |  |  | 3.5% |
2023 |  |  | 12 |  |  |  | 260 |  |  |  | 4,545 |  |  |  | $17.48 |  |  |  | 1.3% |  |  |  |  |  |  |  | 151 |  |  |  | 457 |  |  |  | 12,528 |  |  |  | $27.41 |  |  |  | 6.0% |  |  |  |  |  |  |  | 163 |  |  |  | 717 |  |  |  | 17,073 |  |  |  | $23.81 |  |  |  | 3.0% |
2024 |  |  | 15 |  |  |  | 353 |  |  |  | 5,217 |  |  |  | $14.78 |  |  |  | 1.4% |  |  |  |  |  |  |  | 142 |  |  |  | 376 |  |  |  | 11,534 |  |  |  | $30.68 |  |  |  | 5.5% |  |  |  |  |  |  |  | 157 |  |  |  | 729 |  |  |  | 16,751 |  |  |  | $22.98 |  |  |  | 2.9% |
2025 |  |  | 12 |  |  |  | 399 |  |  |  | 4,857 |  |  |  | $12.17 |  |  |  | 1.3% |  |  |  |  |  |  |  | 149 |  |  |  | 398 |  |  |  | 10,723 |  |  |  | $26.94 |  |  |  | 5.1% |  |  |  |  |  |  |  | 161 |  |  |  | 797 |  |  |  | 15,580 |  |  |  | $19.55 |  |  |  | 2.7% |
2026 |  |  | 19 |  |  |  | 365 |  |  |  | 6,221 |  |  |  | $17.04 |  |  |  | 1.7% |  |  |  |  |  |  |  | 138 |  |  |  | 386 |  |  |  | 11,002 |  |  |  | $28.50 |  |  |  | 5.2% |  |  |  |  |  |  |  | 157 |  |  |  | 751 |  |  |  | 17,223 |  |  |  | $22.93 |  |  |  | 3.0% |
Thereafter |  |  | 710 |  |  |  | 24,798 |  |  |  | 314,719 |  |  |  | $12.69 |  |  |  | 87.3% |  |  |  |  |  |  |  | 770 |  |  |  | 3,183 |  |  |  | 76,389 |  |  |  | $24.00 |  |  |  | 36.4% |  |  |  |  |  |  |  | 1,480 |  |  |  | 27,981 |  |  |  | 391,108 |  |  |  | $13.98 |  |  |  | 68.6% |
Total |  |  | 855 |  |  |  | 27,782 |  |  |  | $360,307 |  |  |  | $12.97 |  |  |  | 100.0% |  |  |  |  |  |  |  | 2,587 |  |  |  | 7,817 |  |  |  | $210,148 |  |  |  | $26.88 |  |  |  | 100.0% |  |  |  |  |  |  |  | 3,442 |  |  |  | 35,599 |  |  |  | $570,455 |  |  |  | $16.02 |  |  |  | 100.0% |

32

DDR Corp.

Lease Expirations

Unconsolidated Joint Ventures at 100%; $ and GLA in thousands

Assumes no exercise of lease options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Greater than 10K SF |  |  |  |  |  | Less than 10K SF |  |  |  |  |  | Total |
|  | # of |  |  | Expiring |  |  |  |  |  | Rent |  |  | % of ABR |  |  |  |  |  | # of |  |  | Expiring |  |  |  |  |  | Rent |  |  | % of ABR |  |  |  |  |  | # of |  |  | Expiring |  |  |  |  |  | Rent |  |  | % of ABR |
Year |  | Leases |  |  | SF |  |  | ABR |  |  | PSF |  |  | > 10K |  |  |  |  |  | Leases |  |  | SF |  |  | ABR |  |  | PSF |  |  | < 10K |  |  |  |  |  | Leases |  |  | SF |  |  | ABR |  |  | PSF |  |  | Total |
MTM |  |  | 0 |  |  |  | 0 |  |  |  | $0 |  |  |  | $0.00 |  |  |  | 0.0% |  |  |  |  |  |  |  | 63 |  |  |  | 136 |  |  |  | $2,477 |  |  |  | $18.21 |  |  |  | 1.9% |  |  |  |  |  |  |  | 63 |  |  |  | 136 |  |  |  | $2,477 |  |  |  | $18.21 |  |  |  | 0.7% |
2017 |  |  | 11 |  |  |  | 326 |  |  |  | 3,673 |  |  |  | $11.27 |  |  |  | 1.7% |  |  |  |  |  |  |  | 147 |  |  |  | 356 |  |  |  | 7,562 |  |  |  | $21.24 |  |  |  | 5.7% |  |  |  |  |  |  |  | 158 |  |  |  | 682 |  |  |  | 11,235 |  |  |  | $16.47 |  |  |  | 3.2% |
2018 |  |  | 63 |  |  |  | 1,612 |  |  |  | 19,072 |  |  |  | $11.83 |  |  |  | 8.9% |  |  |  |  |  |  |  | 386 |  |  |  | 1,037 |  |  |  | 23,958 |  |  |  | $23.10 |  |  |  | 18.0% |  |  |  |  |  |  |  | 449 |  |  |  | 2,649 |  |  |  | 43,030 |  |  |  | $16.24 |  |  |  | 12.4% |
2019 |  |  | 79 |  |  |  | 2,414 |  |  |  | 29,770 |  |  |  | $12.33 |  |  |  | 13.9% |  |  |  |  |  |  |  | 351 |  |  |  | 884 |  |  |  | 20,293 |  |  |  | $22.96 |  |  |  | 15.3% |  |  |  |  |  |  |  | 430 |  |  |  | 3,298 |  |  |  | 50,063 |  |  |  | $15.18 |  |  |  | 14.4% |
2020 |  |  | 73 |  |  |  | 2,212 |  |  |  | 24,660 |  |  |  | $11.15 |  |  |  | 11.5% |  |  |  |  |  |  |  | 305 |  |  |  | 746 |  |  |  | 16,563 |  |  |  | $22.20 |  |  |  | 12.5% |  |  |  |  |  |  |  | 378 |  |  |  | 2,958 |  |  |  | 41,223 |  |  |  | $13.94 |  |  |  | 11.9% |
2021 |  |  | 105 |  |  |  | 3,777 |  |  |  | 41,106 |  |  |  | $10.88 |  |  |  | 19.1% |  |  |  |  |  |  |  | 366 |  |  |  | 958 |  |  |  | 23,712 |  |  |  | $24.75 |  |  |  | 17.8% |  |  |  |  |  |  |  | 471 |  |  |  | 4,735 |  |  |  | 64,818 |  |  |  | $13.69 |  |  |  | 18.6% |
2022 |  |  | 94 |  |  |  | 2,783 |  |  |  | 30,787 |  |  |  | $11.06 |  |  |  | 14.3% |  |  |  |  |  |  |  | 234 |  |  |  | 677 |  |  |  | 15,913 |  |  |  | $23.51 |  |  |  | 12.0% |  |  |  |  |  |  |  | 328 |  |  |  | 3,460 |  |  |  | 46,700 |  |  |  | $13.50 |  |  |  | 13.4% |
2023 |  |  | 60 |  |  |  | 2,041 |  |  |  | 21,139 |  |  |  | $10.36 |  |  |  | 9.8% |  |  |  |  |  |  |  | 68 |  |  |  | 227 |  |  |  | 5,185 |  |  |  | $22.84 |  |  |  | 3.9% |  |  |  |  |  |  |  | 128 |  |  |  | 2,268 |  |  |  | 26,324 |  |  |  | $11.61 |  |  |  | 7.6% |
2024 |  |  | 35 |  |  |  | 1,037 |  |  |  | 12,453 |  |  |  | $12.01 |  |  |  | 5.8% |  |  |  |  |  |  |  | 62 |  |  |  | 231 |  |  |  | 5,387 |  |  |  | $23.32 |  |  |  | 4.1% |  |  |  |  |  |  |  | 97 |  |  |  | 1,268 |  |  |  | 17,840 |  |  |  | $14.07 |  |  |  | 5.1% |
2025 |  |  | 18 |  |  |  | 552 |  |  |  | 7,009 |  |  |  | $12.70 |  |  |  | 3.3% |  |  |  |  |  |  |  | 58 |  |  |  | 208 |  |  |  | 4,656 |  |  |  | $22.38 |  |  |  | 3.5% |  |  |  |  |  |  |  | 76 |  |  |  | 760 |  |  |  | 11,665 |  |  |  | $15.35 |  |  |  | 3.4% |
2026 |  |  | 22 |  |  |  | 471 |  |  |  | 5,407 |  |  |  | $11.48 |  |  |  | 2.5% |  |  |  |  |  |  |  | 40 |  |  |  | 129 |  |  |  | 3,261 |  |  |  | $25.28 |  |  |  | 2.5% |  |  |  |  |  |  |  | 62 |  |  |  | 600 |  |  |  | 8,668 |  |  |  | $14.45 |  |  |  | 2.5% |
Thereafter |  |  | 36 |  |  |  | 1,486 |  |  |  | 19,758 |  |  |  | $13.30 |  |  |  | 9.2% |  |  |  |  |  |  |  | 47 |  |  |  | 168 |  |  |  | 4,014 |  |  |  | $23.89 |  |  |  | 3.0% |  |  |  |  |  |  |  | 83 |  |  |  | 1,654 |  |  |  | 23,772 |  |  |  | $14.37 |  |  |  | 6.8% |
Total |  |  | 596 |  |  |  | 18,711 |  |  |  | $214,834 |  |  |  | $11.48 |  |  |  | 100.0% |  |  |  |  |  |  |  | 2,127 |  |  |  | 5,757 |  |  |  | $132,981 |  |  |  | $23.10 |  |  |  | 100.0% |  |  |  |  |  |  |  | 2,723 |  |  |  | 24,468 |  |  |  | $347,815 |  |  |  | $14.22 |  |  |  | 100.0% |
Assumes all lease options are exercised |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Greater than 10K SF |  |  |  |  |  | Less than 10K SF |  |  |  |  |  | Total |
|  | # of |  |  | Expiring |  |  |  |  |  | Rent |  |  | % of ABR |  |  |  |  |  | # of |  |  | Expiring |  |  |  |  |  | Rent |  |  | % of ABR |  |  |  |  |  | # of |  |  | Expiring |  |  |  |  |  | Rent |  |  | % of ABR |
Year |  | Leases |  |  | SF |  |  | ABR |  |  | PSF |  |  | > 10K |  |  |  |  |  | Leases |  |  | SF |  |  | ABR |  |  | PSF |  |  | < 10K |  |  |  |  |  | Leases |  |  | SF |  |  | ABR |  |  | PSF |  |  | Total |
MTM |  |  | 0 |  |  |  | 0 |  |  |  | $0 |  |  |  | $0.00 |  |  |  | 0.0% |  |  |  |  |  |  |  | 50 |  |  |  | 107 |  |  |  | $1,916 |  |  |  | $17.91 |  |  |  | 1.4% |  |  |  |  |  |  |  | 50 |  |  |  | 107 |  |  |  | $1,916 |  |  |  | $17.91 |  |  |  | 0.6% |
2017 |  |  | 3 |  |  |  | 51 |  |  |  | 688 |  |  |  | $13.49 |  |  |  | 0.3% |  |  |  |  |  |  |  | 87 |  |  |  | 196 |  |  |  | 4,073 |  |  |  | $20.78 |  |  |  | 3.1% |  |  |  |  |  |  |  | 90 |  |  |  | 247 |  |  |  | 4,761 |  |  |  | $19.28 |  |  |  | 1.4% |
2018 |  |  | 11 |  |  |  | 214 |  |  |  | 2,133 |  |  |  | $9.97 |  |  |  | 1.0% |  |  |  |  |  |  |  | 207 |  |  |  | 475 |  |  |  | 10,891 |  |  |  | $22.93 |  |  |  | 8.2% |  |  |  |  |  |  |  | 218 |  |  |  | 689 |  |  |  | 13,024 |  |  |  | $18.90 |  |  |  | 3.7% |
2019 |  |  | 8 |  |  |  | 195 |  |  |  | 1,537 |  |  |  | $7.88 |  |  |  | 0.7% |  |  |  |  |  |  |  | 191 |  |  |  | 398 |  |  |  | 9,084 |  |  |  | $22.82 |  |  |  | 6.8% |  |  |  |  |  |  |  | 199 |  |  |  | 593 |  |  |  | 10,621 |  |  |  | $17.91 |  |  |  | 3.1% |
2020 |  |  | 11 |  |  |  | 183 |  |  |  | 2,261 |  |  |  | $12.36 |  |  |  | 1.1% |  |  |  |  |  |  |  | 171 |  |  |  | 351 |  |  |  | 7,955 |  |  |  | $22.66 |  |  |  | 6.0% |  |  |  |  |  |  |  | 182 |  |  |  | 534 |  |  |  | 10,216 |  |  |  | $19.13 |  |  |  | 2.9% |
2021 |  |  | 12 |  |  |  | 247 |  |  |  | 2,783 |  |  |  | $11.27 |  |  |  | 1.3% |  |  |  |  |  |  |  | 229 |  |  |  | 509 |  |  |  | 12,982 |  |  |  | $25.50 |  |  |  | 9.8% |  |  |  |  |  |  |  | 241 |  |  |  | 756 |  |  |  | 15,765 |  |  |  | $20.85 |  |  |  | 4.5% |
2022 |  |  | 16 |  |  |  | 367 |  |  |  | 5,030 |  |  |  | $13.71 |  |  |  | 2.3% |  |  |  |  |  |  |  | 168 |  |  |  | 416 |  |  |  | 9,872 |  |  |  | $23.73 |  |  |  | 7.4% |  |  |  |  |  |  |  | 184 |  |  |  | 783 |  |  |  | 14,902 |  |  |  | $19.03 |  |  |  | 4.3% |
2023 |  |  | 8 |  |  |  | 256 |  |  |  | 1,969 |  |  |  | $7.69 |  |  |  | 0.9% |  |  |  |  |  |  |  | 138 |  |  |  | 368 |  |  |  | 8,774 |  |  |  | $23.84 |  |  |  | 6.6% |  |  |  |  |  |  |  | 146 |  |  |  | 624 |  |  |  | 10,743 |  |  |  | $17.22 |  |  |  | 3.1% |
2024 |  |  | 8 |  |  |  | 172 |  |  |  | 1,812 |  |  |  | $10.53 |  |  |  | 0.8% |  |  |  |  |  |  |  | 125 |  |  |  | 344 |  |  |  | 7,897 |  |  |  | $22.96 |  |  |  | 5.9% |  |  |  |  |  |  |  | 133 |  |  |  | 516 |  |  |  | 9,709 |  |  |  | $18.82 |  |  |  | 2.8% |
2025 |  |  | 15 |  |  |  | 242 |  |  |  | 3,576 |  |  |  | $14.78 |  |  |  | 1.7% |  |  |  |  |  |  |  | 103 |  |  |  | 273 |  |  |  | 5,787 |  |  |  | $21.20 |  |  |  | 4.4% |  |  |  |  |  |  |  | 118 |  |  |  | 515 |  |  |  | 9,363 |  |  |  | $18.18 |  |  |  | 2.7% |
2026 |  |  | 19 |  |  |  | 426 |  |  |  | 5,390 |  |  |  | $12.65 |  |  |  | 2.5% |  |  |  |  |  |  |  | 115 |  |  |  | 285 |  |  |  | 6,499 |  |  |  | $22.80 |  |  |  | 4.9% |  |  |  |  |  |  |  | 134 |  |  |  | 711 |  |  |  | 11,889 |  |  |  | $16.72 |  |  |  | 3.4% |
Thereafter |  |  | 485 |  |  |  | 16,358 |  |  |  | 187,655 |  |  |  | $11.47 |  |  |  | 87.3% |  |  |  |  |  |  |  | 543 |  |  |  | 2,035 |  |  |  | 47,251 |  |  |  | $23.22 |  |  |  | 35.5% |  |  |  |  |  |  |  | 1,028 |  |  |  | 18,393 |  |  |  | 234,906 |  |  |  | $12.77 |  |  |  | 67.5% |
Total |  |  | 596 |  |  |  | 18,711 |  |  |  | $214,834 |  |  |  | $11.48 |  |  |  | 100.0% |  |  |  |  |  |  |  | 2,127 |  |  |  | 5,757 |  |  |  | $132,981 |  |  |  | $23.10 |  |  |  | 100.0% |  |  |  |  |  |  |  | 2,723 |  |  |  | 24,468 |  |  |  | $347,815 |  |  |  | $14.22 |  |  |  | 100.0% |

33

DDR Corp.

Property List

GLA in thousands

# |  | Center |  | MSA |  | Location |  | ST |  |  | Recent Year Dev. / Redev. |  | Year Acq. |  | DDR Own % |  | JV |  | Owned GLA |  | Total GLA |  | ABR PSF |  | Key Tenants
1 |  | River Ridge |  | Birmingham |  | Birmingham |  |  | AL |  |  | 2001 |  | 2007 |  | 15% |  | TIAA |  | 172 |  | 350 |  | $16.38 |  | Best Buy, Nordstrom Rack, Staples, Target (U)
2 |  | Valley Bend |  | Huntsville |  | Huntsville |  |  | AL |  |  | 2002 |  | 2014 |  | 5% |  | BREDDR III |  | 425 |  | 777 |  | $14.88 |  | Barnes & Noble, Bed Bath & Beyond, Carmike Cinemas (U), Dick’s Sporting Goods, Hobby Lobby, Kohl’s (U), Marshalls, Target (U)
3 |  | Westside Centre |  | Huntsville |  | Huntsville |  |  | AL |  |  | 2002 |  | 2007 |  | 15% |  | TIAA |  | 477 |  | 667 |  | $12.34 |  | Big Lots, Michaels, Petsmart, Ross Dress for Less, Stein Mart, Target (U)
4 |  | Oxford Exchange |  | Oxford |  | Oxford |  |  | AL |  |  | 2006 |  | 2014 |  | 5% |  | BREDDR III |  | 334 |  | 803 |  | $12.80 |  | Bed Bath & Beyond, Best Buy, Dick’s Sporting Goods, Hobby Lobby, Home Depot (U), Kohl’s (U), PetSmart, Ross Dress for Less, Sam’s Club (U), T.J. Maxx, Target (U)
5 |  | McFarland Plaza |  | Tuscaloosa |  | Tuscaloosa |  |  | AL |  |  | 1999 |  | 2007 |  | 15% |  | TIAA |  | 199 |  | 199 |  | $8.95 |  | Michaels, Ross Dress for Less, Stein Mart, T.J. Maxx, Toys “R” Us
6 |  | Dimond Crossing |  | Anchorage |  | Anchorage |  |  | AK |  |  | 1981 |  | 2014 |  | 5% |  | BREDDR III |  | 85 |  | 85 |  | $16.01 |  | Bed Bath & Beyond, PetSmart
7 |  | SanTan Village Marketplace |  | Phoenix |  | Gilbert |  |  | AZ |  |  | 2005 |  | 2014 |  | 5% |  | BREDDR III |  | 286 |  | 690 |  | $16.17 |  | Bed Bath & Beyond, Big Lots, DSW, Jo-Ann, Marshalls, Sam’s Club (U), Walmart (U)
8 |  | Palm Valley Pavilions West |  | Phoenix |  | Goodyear |  |  | AZ |  |  | 2002 |  | 2016 |  | 100% |  |  |  | 233 |  | 277 |  | $17.75 |  | Barnes & Noble, Best Buy, Ross Dress for Less, Total Wine & More
9 |  | Ahwatukee Foothills Towne Center |  | Phoenix |  | Phoenix |  |  | AZ |  |  | 2013 |  | 1998 |  | 100% |  |  |  | 687 |  | 702 |  | $17.72 |  | AMC Theatres, Ashley Furniture HomeStore, Babies “R” Us, Best Buy, HomeGoods, Jo-Ann, Marshalls, Michaels, OfficeMax, Ross Dress for Less, Sprouts Farmers Market
10 |  | Arrowhead Crossing |  | Phoenix |  | Phoenix |  |  | AZ |  |  | 1995 |  | 1996 |  | 100% |  |  |  | 345 |  | 416 |  | $16.26 |  | Barnes & Noble, DSW, Golf Galaxy, Hobby Lobby, HomeGoods, Nordstrom Rack, Old Navy, Savers (U), Staples, T.J. Maxx
11 |  | Deer Valley Towne Center |  | Phoenix |  | Phoenix |  |  | AZ |  |  | 1996 |  | 1999 |  | 100% |  |  |  | 197 |  | 460 |  | $19.42 |  | AMC Theatres (U), Michaels, PetSmart, Ross Dress for Less, Target (U)
12 |  | Paradise Village Gateway |  | Phoenix |  | Phoenix |  |  | AZ |  |  | 2004 |  | 2003 |  | 67% |  | Other |  | 295 |  | 295 |  | $17.19 |  | Albertsons, Bed Bath & Beyond, PetSmart, Ross Dress for Less, Staples
13 |  | Plaza at Power Marketplace |  | Phoenix |  | Queen Creek |  |  | AZ |  |  | 2007 |  | 2014 |  | 5% |  | BREDDR III |  | 71 |  | 105 |  | $20.74 |  | LA Fitness
14 |  | Shops at Prescott Gateway |  | Prescott |  | Prescott |  |  | AZ |  |  | 2012 |  | 2014 |  | 5% |  | BREDDR III |  | 35 |  | 35 |  | $29.31 |  | Trader Joe’s
15 |  | Silverado Plaza |  | Tucson |  | Tucson |  |  | AZ |  |  | 1999 |  | 2014 |  | 5% |  | BREDDR III |  | 78 |  | 79 |  | $9.33 |  | Safeway
16 |  | Tucson Spectrum |  | Tucson |  | Tucson |  |  | AZ |  |  | 2008 |  | 2012 |  | 100% |  |  |  | 715 |  | 969 |  | $14.70 |  | Bed Bath & Beyond, Best Buy, Food City, Harkins Theatres, Home Depot (U), JCPenney, LA Fitness, Marshalls, Michaels, OfficeMax, Old Navy, Party City, PetSmart, Ross Dress for Less, Target (U)
17 |  | Walgreens |  | Fayetteville |  | Springdale |  |  | AR |  |  | 2009 |  | 2014 |  | 5% |  | BREDDR III |  | 15 |  | 15 |  | $26.80 |  | —
18 |  | Sherwood Retail Center |  | Little Rock |  | Sherwood |  |  | AR |  |  | 1986 |  | 2014 |  | 5% |  | BREDDR III |  | 123 |  | 194 |  | $4.96 |  | Gander Mountain, Mardel, Tractor Supply Company
19 |  | Buena Park Place |  | Los Angeles |  | Buena Park |  |  | CA |  |  | 2009 |  | 2004 |  | 100% |  |  |  | 215 |  | 246 |  | $15.13 |  | Aldi, Kohl’s, Michaels
20 |  | Falcon Ridge Town Center |  | Los Angeles |  | Fontana |  |  | CA |  |  | 2005 |  | 2013 |  | 100% |  |  |  | 291 |  | 438 |  | $22.21 |  | 24 Hour Fitness, Aki-Home, Michaels, Ross Dress for Less, Stater Bros Markets, Target (U)
21 |  | The Pike Outlets |  | Los Angeles |  | Long Beach |  |  | CA |  |  | 2015 |  | DEV |  | 100% |  |  |  | 392 |  | 392 |  | $21.44 |  | Cinemark, H & M, Nike, Restoration Hardware
22 |  | Eastland Center |  | Los Angeles |  | West Covina |  |  | CA |  |  | 1957 |  | 2014 |  | 5% |  | BREDDR III |  | 811 |  | 911 |  | $14.45 |  | Albertsons, Ashley Furniture HomeStore, Burlington, Dick’s Sporting Goods, Hobby Lobby, Marshalls, Pottery Barn Outlet, Ross Dress for Less, Target, Walmart
23 |  | Whittwood Town Center |  | Los Angeles |  | Whittier |  |  | CA |  |  | 1960 |  | 2014 |  | 5% |  | BREDDR III |  | 783 |  | 842 |  | $9.54 |  | 24 Hour Fitness, JCPenney, Kohl’s, PetSmart, Sears, Target, Vons
24 |  | Ridge at Creekside |  | Sacramento |  | Roseville |  |  | CA |  |  | 2007 |  | 2014 |  | 100% |  |  |  | 275 |  | 289 |  | $21.79 |  | Bed Bath & Beyond, buybuy BABY, Cost Plus World Market, Macy’s Furniture Gallery, REI
25 |  | Vista Village |  | San Diego |  | Vista |  |  | CA |  |  | 2007 |  | 2013 |  | 100% |  |  |  | 194 |  | 235 |  | $25.09 |  | Cinepolis, Frazier Farms, Lowe’s (U), Staples (U)
26 |  | Whole Foods at Bay Place |  | San Francisco |  | Oakland |  |  | CA |  |  | 2006 |  | 2013 |  | 100% |  |  |  | 57 |  | 57 |  | $42.17 |  | Whole Foods
27 |  | Hilltop Plaza |  | San Francisco |  | Richmond |  |  | CA |  |  | 2000 |  | 2002 |  | 20% |  | DDRM |  | 251 |  | 251 |  | $17.35 |  | 99 Cents Only, Century Theatre, dd’s Discounts, Ross Dress for Less
28 |  | 1000 Van Ness |  | San Francisco |  | San Francisco |  |  | CA |  |  | 1998 |  | 2002 |  | 100% |  |  |  | 122 |  | 122 |  | $35.87 |  | AMC Theatres, The Studio Mix
29 |  | Cornerstar |  | Denver |  | Aurora |  |  | CO |  |  | 2008 |  | 2014 |  | 5% |  | BREDDR III |  | 430 |  | 585 |  | $19.05 |  | 24 Hour Fitness, Cornerstar Wine & Liquor, Dick’s Sporting Goods, HomeGoods, Marshalls, Office Depot, Ross Dress for Less, Sprouts Farmers Market, Target (U), Ulta Beauty
30 |  | Pioneer Hills |  | Denver |  | Aurora |  |  | CO |  |  | 2003 |  | 2003 |  | 100% |  |  |  | 138 |  | 494 |  | $15.91 |  | Bed Bath & Beyond, Home Depot (U), Inspire Fitness, Walmart (U)
31 |  | Centennial Promenade |  | Denver |  | Centennial |  |  | CO |  |  | 2002 |  | 1997 |  | 100% |  |  |  | 418 |  | 827 |  | $18.54 |  | Cavender’s, Conn’s, Golf Galaxy, HomeGoods, IKEA (U), Michaels, REI (U), Ross Dress for Less, Stickley Furniture, Toys “R” Us
32 |  | Chapel Hills |  | Denver |  | Colorado Springs |  |  | CO |  |  | 2000 |  | 2011 |  | 100% |  |  |  | 446 |  | 541 |  | $12.67 |  | 24 Hour Fitness, Barnes & Noble, Best Buy, DSW, Michaels (U), Nordstrom Rack, Old Navy, Pep Boys, PetSmart, Ross Dress for Less, Whole Foods
33 |  | Tamarac Shopping Center |  | Denver |  | Denver |  |  | CO |  |  | 2013 |  | 2001 |  | 100% |  |  |  | 69 |  | 204 |  | $14.77 |  | Target (U)
34 |  | University Hills |  | Denver |  | Denver |  |  | CO |  |  | 1997 |  | 2003 |  | 100% |  |  |  | 244 |  | 261 |  | $18.72 |  | 24 Hour Fitness, King Soopers, Marshalls, Michaels, Pier 1 Imports
35 |  | Denver West Plaza |  | Denver |  | Lakewood |  |  | CO |  |  | 2002 |  | 2014 |  | 5% |  | BREDDR III |  | 71 |  | 75 |  | $18.76 |  | Best Buy
36 |  | FlatAcres Marketcenter/Parker Pavilions |  | Denver |  | Parker |  |  | CO |  |  | 2003 |  | 2003 |  | 100% |  |  |  | 232 |  | 641 |  | $19.11 |  | Bed Bath & Beyond, Home Depot (U), Kohl’s (U), Michaels, Office Depot, Walmart (U)
37 |  | Guilford Commons |  | Hartford |  | Guilford |  |  | CT |  |  | 2015 |  | DEV |  | 100% |  |  |  | 123 |  | 123 |  | $16.51 |  | Bed Bath & Beyond, The Fresh Market
38 |  | Connecticut Commons |  | Hartford |  | Plainville |  |  | CT |  |  | 2013 |  | DEV |  | 100% |  |  |  | 562 |  | 562 |  | $13.28 |  | A.C. Moore, AMC Theatres, Dick’s Sporting Goods, DSW, Kohl’s, Lowe’s, Marshalls, Old Navy, PetSmart
39 |  | Naugatuck Valley Shopping Center |  | Hartford |  | Waterbury |  |  | CT |  |  | 2003 |  | 2014 |  | 5% |  | BREDDR III |  | 383 |  | 383 |  | $12.03 |  | Bob’s Stores, Staples, Stop & Shop, Walmart
40 |  | Windsor Court |  | Hartford |  | Windsor |  |  | CT |  |  | 1993 |  | 2007 |  | 100% |  |  |  | 79 |  | 268 |  | $18.76 |  | Stop & Shop, Target (U)
41 |  | Northpoint Shopping Center |  | Fort Myers |  | Cape Coral |  |  | FL |  |  | 2008 |  | 2014 |  | 5% |  | BREDDR III |  | 112 |  | 116 |  | $13.06 |  | Bed Bath & Beyond, Michaels, PetSmart
42 |  | Cypress Trace |  | Fort Myers |  | Fort Myers |  |  | FL |  |  | 2004 |  | 2007 |  | 15% |  | TIAA |  | 276 |  | 276 |  | $10.33 |  | Bealls, Bealls Outlet, Ross Dress for Less, Stein Mart
43 |  | Market Square |  | Fort Myers |  | Fort Myers |  |  | FL |  |  | 2004 |  | 2007 |  | 15% |  | TIAA |  | 119 |  | 406 |  | $15.87 |  | American Signature Furniture, Barnes & Noble (U), Cost Plus World Market (U), DSW, Michaels (U), Target (U), Total Wine & More
44 |  | The Forum |  | Fort Myers |  | Fort Myers |  |  | FL |  |  | 2008 |  | 2014 |  | 5% |  | BREDDR III |  | 190 |  | 458 |  | $16.83 |  | Bed Bath & Beyond, Home Depot (U), Ross Dress for Less, Staples, Target (U)
45 |  | Shoppes at Paradise Pointe |  | Fort Walton Beach |  | Fort Walton Beach |  |  | FL |  |  | 2000 |  | 2007 |  | 20% |  | DDRM |  | 84 |  | 84 |  | $11.84 |  | Publix
46 |  | Melbourne Shopping Center |  | Melbourne |  | Melbourne |  |  | FL |  |  | 1999 |  | 2007 |  | 20% |  | DDRM |  | 229 |  | 229 |  | $6.41 |  | Big Lots, Publix
47 |  | Aberdeen Square |  | Miami |  | Boynton Beach |  |  | FL |  |  | 1990 |  | 2007 |  | 20% |  | DDRM |  | 71 |  | 71 |  | $10.61 |  | Publix

34

DDR Corp.

Property List

GLA in thousands

# |  | Center |  | MSA |  | Location |  | ST |  |  | Recent Year Dev. / Redev. |  | Year Acq. |  | DDR Own % |  | JV |  | Owned GLA |  | Total GLA |  | ABR PSF |  | Key Tenants
48 |  | Village Square at Golf |  | Miami |  | Boynton Beach |  |  | FL |  |  | 2002 |  | 2007 |  | 20% |  | DDRM |  | 135 |  | 135 |  | $14.45 |  | Publix
49 |  | Sheridan Square |  | Miami |  | Dania |  |  | FL |  |  | 1991 |  | 2007 |  | 20% |  | DDRM |  | 67 |  | 67 |  | $11.04 |  | Walmart Neighborhood Market
50 |  | Paraiso Plaza |  | Miami |  | Hialeah |  |  | FL |  |  | 1997 |  | 2007 |  | 20% |  | DDRM |  | 61 |  | 61 |  | $16.77 |  | Publix
51 |  | Homestead Pavilion |  | Miami |  | Homestead |  |  | FL |  |  | 2008 |  | 2008 |  | 100% |  |  |  | 306 |  | 397 |  | $18.04 |  | Bed Bath & Beyond, Kohl’s (U), Michaels, Ross Dress for Less
52 |  | Concourse Village |  | Miami |  | Jupiter |  |  | FL |  |  | 2004 |  | 2015 |  | 5% |  | BREDDR IV |  | 134 |  | 134 |  | $16.26 |  | Ross Dress for Less, T.J. Maxx
53 |  | Plaza del Paraiso |  | Miami |  | Miami |  |  | FL |  |  | 2003 |  | 2007 |  | 20% |  | DDRM |  | 85 |  | 85 |  | $15.70 |  | Publix
54 |  | The Shops at Midtown Miami |  | Miami |  | Miami |  |  | FL |  |  | 2006 |  | DEV |  | 100% |  |  |  | 467 |  | 467 |  | $21.45 |  | Dick’s Sporting Goods, HomeGoods, Marshalls, Nordstrom Rack, Ross Dress for Less, Target, west elm
55 |  | Fountains of Miramar |  | Miami |  | Miramar |  |  | FL |  |  | 2005 |  | 2015 |  | 5% |  | BREDDR IV |  | 139 |  | 251 |  | $23.01 |  | Home Depot (U), Marshalls, Ross Dress for Less
56 |  | River Run |  | Miami |  | Miramar |  |  | FL |  |  | 1989 |  | 2007 |  | 20% |  | DDRM |  | 94 |  | 107 |  | $13.38 |  | Publix
57 |  | Northlake Commons |  | Miami |  | Palm Beach Gardens |  |  | FL |  |  | 2003 |  | 2007 |  | 20% |  | DDRM |  | 124 |  | 245 |  | $13.85 |  | Home Depot (U), Jo-Ann, Ross Dress for Less
58 |  | Flamingo Falls |  | Miami |  | Pembroke Pines |  |  | FL |  |  | 2001 |  | 2007 |  | 20% |  | DDRM |  | 109 |  | 148 |  | $22.24 |  | LA Fitness (U), The Fresh Market
59 |  | The Fountains |  | Miami |  | Plantation |  |  | FL |  |  | 2010 |  | 2007 |  | 100% |  |  |  | 430 |  | 489 |  | $16.14 |  | Dick’s Sporting Goods, Jo-Ann, Kohl’s, Marshalls/HomeGoods, Total Wine & More
60 |  | Midway Plaza |  | Miami |  | Tamarac |  |  | FL |  |  | 1985 |  | 2007 |  | 20% |  | DDRM |  | 228 |  | 228 |  | $13.05 |  | Publix, Ross Dress for Less
61 |  | Tequesta Shoppes |  | Miami |  | Tequesta |  |  | FL |  |  | 2014 |  | 2007 |  | 100% |  |  |  | 110 |  | 110 |  | $11.60 |  | Marshalls
62 |  | Carillon Place |  | Naples |  | Naples |  |  | FL |  |  | 1994 |  | 1995 |  | 100% |  |  |  | 268 |  | 283 |  | $14.92 |  | Bealls Outlet, OfficeMax, Ross Dress for Less, T.J. Maxx, Walmart Neighborhood Market
63 |  | Countryside Shoppes |  | Naples |  | Naples |  |  | FL |  |  | 1997 |  | 2007 |  | 20% |  | DDRM |  | 74 |  | 74 |  | $18.52 |  | —
64 |  | Crystal Springs |  | Ocala |  | Crystal River |  |  | FL |  |  | 2001 |  | 2007 |  | 20% |  | DDRM |  | 67 |  | 79 |  | $11.68 |  | Publix
65 |  | Shoppes of Citrus Hills |  | Ocala |  | Hernando |  |  | FL |  |  | 2003 |  | 2007 |  | 20% |  | DDRM |  | 69 |  | 69 |  | $11.19 |  | Publix
66 |  | Heather Island |  | Ocala |  | Ocala |  |  | FL |  |  | 2005 |  | 2007 |  | 20% |  | DDRM |  | 71 |  | 71 |  | $11.14 |  | Publix
67 |  | Casselberry Commons |  | Orlando |  | Casselberry |  |  | FL |  |  | 2010 |  | 2007 |  | 20% |  | DDRM |  | 245 |  | 248 |  | $12.09 |  | Publix, Ross Dress for Less, Stein Mart, T.J. Maxx
68 |  | Shoppes of Lake Mary |  | Orlando |  | Lake Mary |  |  | FL |  |  | 2001 |  | 2007 |  | 15% |  | TIAA |  | 74 |  | 279 |  | $23.16 |  | Publix (U), Staples, Target (U)
69 |  | West Oaks Town Center |  | Orlando |  | Ocoee |  |  | FL |  |  | 2000 |  | 2007 |  | 20% |  | DDRM |  | 67 |  | 112 |  | $15.73 |  | Best Buy (U), Michaels
70 |  | Chickasaw Trail Shopping Center |  | Orlando |  | Orlando |  |  | FL |  |  | 1994 |  | 2007 |  | 20% |  | DDRM |  | 75 |  | 81 |  | $11.93 |  | Publix
71 |  | Conway Plaza |  | Orlando |  | Orlando |  |  | FL |  |  | 1999 |  | 2007 |  | 20% |  | DDRM |  | 118 |  | 118 |  | $10.05 |  | Publix
72 |  | International Drive Value Center |  | Orlando |  | Orlando |  |  | FL |  |  | 1995 |  | 2015 |  | 100% |  |  |  | 186 |  | 192 |  | $10.38 |  | Bed Bath & Beyond, dd’s Discounts, Ross Dress for Less, T.J. Maxx
73 |  | Lee Vista Promenade |  | Orlando |  | Orlando |  |  | FL |  |  | 2016 |  | DEV |  | 100% |  |  |  | 290 |  | 290 |  | $17.81 |  | Epic Theatres, HomeGoods, Michaels, Ross Dress for Less
74 |  | Millenia Crossing |  | Orlando |  | Orlando |  |  | FL |  |  | 2009 |  | 2015 |  | 5% |  | BREDDR IV |  | 100 |  | 100 |  | $28.13 |  | Nordstrom Rack
75 |  | Millenia Plaza |  | Orlando |  | Orlando |  |  | FL |  |  | 2001 |  | 2015 |  | 100% |  |  |  | 412 |  | 412 |  | $11.00 |  | BJ’s Wholesale Club, Dick’s Sporting Goods, Home Depot, Ross Dress for Less, Total Wine & More, Toys “R” Us/Babies “R” Us
76 |  | Skyview Plaza |  | Orlando |  | Orlando |  |  | FL |  |  | 1998 |  | 2007 |  | 20% |  | DDRM |  | 263 |  | 263 |  | $10.73 |  | dd’s Discounts, Goodwill, Publix, Ross Dress for Less
77 |  | Oviedo Park Crossing |  | Orlando |  | Oviedo |  |  | FL |  |  | 1999 |  | DEV |  | 20% |  | DDRM |  | 186 |  | 321 |  | $11.09 |  | Bed Bath & Beyond, Lowe’s (U), Michaels, OfficeMax, Ross Dress for Less, T.J. Maxx
78 |  | Winter Garden Village |  | Orlando |  | Winter Garden |  |  | FL |  |  | 2007 |  | 2013 |  | 100% |  |  |  | 758 |  | 1,127 |  | $18.41 |  | Bealls, Bed Bath & Beyond, Best Buy, Forever 21, Havertys, Jo-Ann, LA Fitness, Lowe’s (U), Marshalls, PetSmart, Ross Dress for Less, Staples, Target (U)
79 |  | Bellview Plaza |  | Pensacola |  | Pensacola |  |  | FL |  |  | 1984 |  | 2014 |  | 5% |  | BREDDR III |  | 83 |  | 87 |  | $9.62 |  | Publix
80 |  | Cordova Commons |  | Pensacola |  | Pensacola |  |  | FL |  |  | 1972 |  | 2014 |  | 5% |  | BREDDR III |  | 164 |  | 169 |  | $15.82 |  | Marshalls, Stein Mart, The Fresh Market
81 |  | Tradewinds Shopping Center |  | Pensacola |  | Pensacola |  |  | FL |  |  | 1985 |  | 2014 |  | 5% |  | BREDDR III |  | 179 |  | 195 |  | $10.04 |  | Jo-Ann, T.J. Maxx/HomeGoods
82 |  | Cortez Plaza |  | Sarasota |  | Bradenton |  |  | FL |  |  | 2015 |  | 2007 |  | 100% |  |  |  | 274 |  | 274 |  | $12.38 |  | Burlington, LA Fitness, PetSmart
83 |  | Creekwood Crossing |  | Sarasota |  | Bradenton |  |  | FL |  |  | 2001 |  | 2007 |  | 20% |  | DDRM |  | 235 |  | 397 |  | $11.46 |  | Bealls, Bealls Outlet, Big Lots, LA Fitness, Lowe’s (U)
84 |  | Lakewood Ranch Plaza |  | Sarasota |  | Bradenton |  |  | FL |  |  | 2001 |  | 2007 |  | 20% |  | DDRM |  | 85 |  | 107 |  | $13.46 |  | Publix
85 |  | Capital West |  | Tallahassee |  | Tallahassee |  |  | FL |  |  | 2004 |  | 2003 |  | 100% |  |  |  | 88 |  | 272 |  | $8.48 |  | Bealls Outlet, Walmart (U)
86 |  | Killearn Shopping Center |  | Tallahassee |  | Tallahassee |  |  | FL |  |  | 1980 |  | 2007 |  | 20% |  | DDRM |  | 95 |  | 95 |  | $13.68 |  | Hobby Lobby
87 |  | Southwood Village |  | Tallahassee |  | Tallahassee |  |  | FL |  |  | 2003 |  | 2007 |  | 20% |  | DDRM |  | 66 |  | 66 |  | $13.13 |  | Publix
88 |  | Kmart Shopping Center |  | Tampa |  | Brandon |  |  | FL |  |  | 2003 |  | IPO |  | 100% |  |  |  | 232 |  | 232 |  | $3.69 |  | Kane Furniture, Kmart
89 |  | Lake Brandon Village |  | Tampa |  | Brandon |  |  | FL |  |  | 2014 |  | 2009 |  | 100% |  |  |  | 292 |  | 454 |  | $13.95 |  | buybuy BABY, Jo-Ann, Lowe’s (U), Nordstrom Rack, PetSmart, Publix, Total Wine & More
90 |  | Bardmoor Promenade |  | Tampa |  | Largo |  |  | FL |  |  | 1991 |  | 2007 |  | 20% |  | DDRM |  | 158 |  | 171 |  | $13.94 |  | Publix
91 |  | Shoppes at Golden Acres |  | Tampa |  | New Port Richey |  |  | FL |  |  | 2002 |  | 2007 |  | 20% |  | DDRM |  | 131 |  | 131 |  | $10.88 |  | Publix
92 |  | The Shoppes of Boot Ranch |  | Tampa |  | Palm Harbor |  |  | FL |  |  | 1990 |  | 1995 |  | 100% |  |  |  | 52 |  | 229 |  | $24.01 |  | Publix (U), Target (U)
93 |  | Lake Walden Square |  | Tampa |  | Plant City |  |  | FL |  |  | 2013 |  | 2007 |  | 100% |  |  |  | 245 |  | 245 |  | $11.70 |  | Marshalls, Premiere Cinemas, Ross Dress for Less, Winn Dixie
94 |  | Mariner Square |  | Tampa |  | Spring Hill |  |  | FL |  |  | 1997 |  | IPO |  | 100% |  |  |  | 194 |  | 519 |  | $9.56 |  | Bealls, Ross Dress for Less, Sam’s Club (U), Walmart (U)
95 |  | Nature Coast Commons |  | Tampa |  | Spring Hill |  |  | FL |  |  | 2009 |  | 2014 |  | 5% |  | BREDDR III |  | 226 |  | 549 |  | $16.17 |  | Best Buy, JCPenney (U), PetSmart, Ross Dress for Less, Walmart (U)
96 |  | North Pointe Plaza |  | Tampa |  | Tampa |  |  | FL |  |  | 1990 |  | IPO |  | 20% |  | DDRM |  | 108 |  | 226 |  | $13.97 |  | Publix, Walmart (U)
97 |  | The Walk at Highwoods Preserve |  | Tampa |  | Tampa |  |  | FL |  |  | 2001 |  | 2007 |  | 100% |  |  |  | 138 |  | 232 |  | $16.10 |  | Best Buy, HomeGoods, Michaels, Muvico (U)
98 |  | Tarpon Square |  | Tampa |  | Tarpon Springs |  |  | FL |  |  | 1998 |  | IPO |  | 100% |  |  |  | 115 |  | 199 |  | $12.82 |  | Bealls Outlet, Big Lots, Staples, Walmart (U)
99 |  | Brandon Boulevard Shoppes |  | Tampa |  | Valrico |  |  | FL |  |  | 2012 |  | 2007 |  | 100% |  |  |  | 86 |  | 89 |  | $15.48 |  | LA Fitness

35

DDR Corp.

Property List

GLA in thousands

# |  | Center |  | MSA |  | Location |  | ST |  |  | Recent Year Dev. / Redev. |  | Year Acq. |  | DDR Own % |  | JV |  | Owned GLA |  | Total GLA |  | ABR PSF |  | Key Tenants
100 |  | Shoppes at Lithia |  | Tampa |  | Valrico |  |  | FL |  |  | 2003 |  | 2007 |  | 20% |  | DDRM |  | 71 |  | 71 |  | $15.95 |  | Publix
101 |  | The Shoppes at New Tampa |  | Tampa |  | Wesley Chapel |  |  | FL |  |  | 2002 |  | 2007 |  | 20% |  | DDRM |  | 159 |  | 188 |  | $13.72 |  | Bealls, Office Depot (U), Publix
102 |  | Century Town Center |  | Vero Beach |  | Vero Beach |  |  | FL |  |  | 2008 |  | 2014 |  | 5% |  | BREDDR III |  | 107 |  | 117 |  | $14.11 |  | Marshalls/HomeGoods
103 |  | Brookhaven Plaza |  | Atlanta |  | Atlanta |  |  | GA |  |  | 1993 |  | 2007 |  | 20% |  | SAU |  | 70 |  | 70 |  | $19.79 |  | Stein Mart
104 |  | Cascade Corners |  | Atlanta |  | Atlanta |  |  | GA |  |  | 1993 |  | 2007 |  | 20% |  | SAU |  | 67 |  | 67 |  | $6.99 |  | Kroger
105 |  | Cascade Crossing |  | Atlanta |  | Atlanta |  |  | GA |  |  | 1994 |  | 2007 |  | 20% |  | SAU |  | 63 |  | 63 |  | $10.19 |  | Publix
106 |  | Perimeter Pointe |  | Atlanta |  | Atlanta |  |  | GA |  |  | 2002 |  | 1995 |  | 100% |  |  |  | 353 |  | 353 |  | $17.56 |  | Babies “R” Us, Dick’s Sporting Goods, HomeGoods, LA Fitness, Regal Cinemas, Stein Mart
107 |  | Marketplace at Millcreek |  | Atlanta |  | Buford |  |  | GA |  |  | 2003 |  | 2007 |  | 15% |  | TIAA |  | 402 |  | 533 |  | $12.83 |  | 2nd & Charles, Bed Bath & Beyond, Burlington, Costco (U), DSW, Marshalls, Michaels, PetSmart, REI, Ross Dress for Less, Stein Mart
108 |  | Hickory Flat Village |  | Atlanta |  | Canton |  |  | GA |  |  | 2000 |  | 2007 |  | 20% |  | SAU |  | 74 |  | 88 |  | $12.83 |  | Publix
109 |  | Riverstone Plaza |  | Atlanta |  | Canton |  |  | GA |  |  | 1998 |  | 2007 |  | 20% |  | DDRM |  | 308 |  | 335 |  | $11.89 |  | Bealls Outlet, Belk, Michaels, Publix, Ross Dress for Less
110 |  | Cumming Marketplace |  | Atlanta |  | Cumming |  |  | GA |  |  | 1999 |  | 2003 |  | 100% |  |  |  | 311 |  | 717 |  | $12.48 |  | ApplianceSmart, Home Depot (U), Lowe’s, Michaels, OfficeMax, Walmart (U)
111 |  | Cumming Town Center |  | Atlanta |  | Cumming |  |  | GA |  |  | 2007 |  | 2013 |  | 100% |  |  |  | 311 |  | 311 |  | $15.35 |  | Ashley Furniture HomeStore, Best Buy, Dick’s Sporting Goods, Staples, T.J. Maxx/HomeGoods
112 |  | Sharon Greens |  | Atlanta |  | Cumming |  |  | GA |  |  | 2001 |  | 2007 |  | 20% |  | DDRM |  | 98 |  | 101 |  | $11.76 |  | Kroger
113 |  | Flat Shoals Crossing |  | Atlanta |  | Decatur |  |  | GA |  |  | 1994 |  | 2007 |  | 20% |  | SAU |  | 70 |  | 70 |  | $10.29 |  | Publix
114 |  | Hairston Crossing |  | Atlanta |  | Decatur |  |  | GA |  |  | 2002 |  | 2007 |  | 20% |  | DDRM |  | 58 |  | 58 |  | $11.75 |  | Publix
115 |  | Douglasville Pavilion |  | Atlanta |  | Douglasville |  |  | GA |  |  | 1998 |  | 2007 |  | 100% |  |  |  | 267 |  | 370 |  | $11.77 |  | Big Lots, Marshalls, Michaels, OfficeMax, PetSmart, Ross Dress for Less, Target (U)
116 |  | Market Square |  | Atlanta |  | Douglasville |  |  | GA |  |  | 1990 |  | 2007 |  | 20% |  | Other |  | 125 |  | 125 |  | $10.34 |  | Bargain Hunt
117 |  | Camp Creek Marketplace |  | Atlanta |  | East Point |  |  | GA |  |  | 2003 |  | 2014 |  | 5% |  | BREDDR III |  | 424 |  | 719 |  | $15.79 |  | Beauty Master, BJ’s Wholesale Club, Lowe’s (U), Marshalls, Ross Dress for Less, Staples, T.J. Maxx, Target (U)
118 |  | Paradise Shoppes of Ellenwood |  | Atlanta |  | Ellenwood |  |  | GA |  |  | 2003 |  | 2007 |  | 20% |  | DDRM |  | 68 |  | 68 |  | $11.09 |  | —
119 |  | Fayette Pavilion |  | Atlanta |  | Fayetteville |  |  | GA |  |  | 2002 |  | 2007 |  | 15% |  | TIAA |  | 1,242 |  | 1,506 |  | $9.26 |  | Bealls Outlet, Bed Bath & Beyond, Belk, Big Lots, Cinemark, Dick’s Sporting Goods, Forever 21, Hobby Lobby, Home Depot (U), Jo-Ann, Kohl’s, Marshalls, PetSmart, Publix, Ross Dress for Less, Target (U), Toys “R” Us/Babies “R” Us, Walmart
120 |  | Clearwater Crossing |  | Atlanta |  | Flowery Branch |  |  | GA |  |  | 2003 |  | 2007 |  | 20% |  | DDRM |  | 91 |  | 91 |  | $12.16 |  | Kroger
121 |  | Stonebridge Village |  | Atlanta |  | Flowery Branch |  |  | GA |  |  | 2008 |  | 2014 |  | 5% |  | BREDDR III |  | 157 |  | 504 |  | $16.74 |  | Home Depot (U), Kohl’s (U), PetSmart, Ross Dress for Less, T.J. Maxx, Target (U)
122 |  | Barrett Pavilion |  | Atlanta |  | Kennesaw |  |  | GA |  |  | 1998 |  | 2007 |  | 15% |  | TIAA |  | 459 |  | 584 |  | $15.83 |  | AMC Theatres, Bealls Outlet, buybuy BABY, Jo-Ann, Old Navy, Ozone Billiards, REI, Target (U), Total Wine & More
123 |  | CVS |  | Atlanta |  | Lawrenceville |  |  | GA |  |  | 2008 |  | 2014 |  | 5% |  | BREDDR III |  | 13 |  | 13 |  | $28.18 |  | —
124 |  | Towne Center Prado |  | Atlanta |  | Marietta |  |  | GA |  |  | 2002 |  | 1995 |  | 100% |  |  |  | 287 |  | 327 |  | $13.02 |  | Publix, Ross Dress for Less, Stein Mart
125 |  | Shoppes at Lake Dow |  | Atlanta |  | McDonough |  |  | GA |  |  | 2002 |  | 2007 |  | 20% |  | DDRM |  | 73 |  | 97 |  | $12.53 |  | Publix
126 |  | Newnan Crossing |  | Atlanta |  | Newnan |  |  | GA |  |  | 1995 |  | 2003 |  | 100% |  |  |  | 223 |  | 453 |  | $8.51 |  | Hobby Lobby, Lowe’s, Walmart (U)
127 |  | Newnan Pavilion |  | Atlanta |  | Newnan |  |  | GA |  |  | 2013 |  | 2007 |  | 15% |  | TIAA |  | 468 |  | 468 |  | $8.08 |  | Academy Sports, Aldi, Home Depot, Kohl’s, PetSmart, Ross Dress for Less, Sky Zone Trampoline Park
128 |  | Sandy Plains Village |  | Atlanta |  | Roswell |  |  | GA |  |  | 2013 |  | 2007 |  | 100% |  |  |  | 174 |  | 174 |  | $10.85 |  | Movie Tavern
129 |  | Heritage Pavilion |  | Atlanta |  | Smyrna |  |  | GA |  |  | 1995 |  | 2007 |  | 15% |  | TIAA |  | 256 |  | 256 |  | $13.84 |  | American Signature Furniture, Marshalls, PetSmart, Ross Dress for Less, T.J. Maxx
130 |  | Presidential Commons |  | Atlanta |  | Snellville |  |  | GA |  |  | 2000 |  | 2007 |  | 100% |  |  |  | 376 |  | 376 |  | $11.55 |  | buybuy BABY, Home Depot, Jo-Ann, Kroger, Stein Mart
131 |  | Deshon Plaza |  | Atlanta |  | Stone Mountain |  |  | GA |  |  | 1994 |  | 2007 |  | 20% |  | SAU |  | 64 |  | 64 |  | $11.28 |  | Publix
132 |  | Johns Creek Town Center |  | Atlanta |  | Suwanee |  |  | GA |  |  | 2004 |  | 2003 |  | 100% |  |  |  | 293 |  | 293 |  | $13.99 |  | Kohl’s, Michaels, PetSmart, Sprouts Farmers Market, Staples, Stein Mart
133 |  | Cofer Crossing |  | Atlanta |  | Tucker |  |  | GA |  |  | 2003 |  | 2003 |  | 20% |  | DDRM |  | 136 |  | 278 |  | $8.63 |  | HomeGoods, Kroger, Walmart (U)
134 |  | Woodstock Square |  | Atlanta |  | Woodstock |  |  | GA |  |  | 2001 |  | 2007 |  | 15% |  | TIAA |  | 219 |  | 400 |  | $14.56 |  | Kohl’s, OfficeMax, Old Navy, Target (U)
135 |  | Glynn Isles |  | Brunswick |  | Brunswick |  |  | GA |  |  | 2007 |  | 2014 |  | 5% |  | BREDDR III |  | 193 |  | 517 |  | $15.77 |  | Ashley Furniture HomeStore (U), Dick’s Sporting Goods, Lowe’s (U), Michaels, Office Depot, PetSmart, Ross Dress for Less, Target (U)
136 |  | Eisenhower Crossing |  | Macon |  | Macon |  |  | GA |  |  | 2002 |  | 2007 |  | 15% |  | TIAA |  | 420 |  | 722 |  | $10.91 |  | Ashley Furniture HomeStore, Bed Bath & Beyond, Best Buy (U), Home Depot (U), Kroger, Marshalls, Michaels, Old Navy, Ross Dress for Less, Staples, Target (U)
137 |  | Crossroads Marketplace |  | Warner Robins |  | Warner Robins |  |  | GA |  |  | 2008 |  | 2014 |  | 5% |  | BREDDR III |  | 79 |  | 295 |  | $13.57 |  | Bed Bath & Beyond, Best Buy, Kohl’s (U), Kroger (U), Toys “R” Us (U)
138 |  | Meridian Crossroads |  | Boise |  | Meridian |  |  | ID |  |  | 2004 |  | DEV |  | 100% |  |  |  | 527 |  | 731 |  | $15.34 |  | Ashley Furniture HomeStore, Bed Bath & Beyond, Craft Warehouse, Office Depot, Old Navy, Ross Dress for Less, Sportsman’s Warehouse, Walmart (U)
139 |  | Nampa Gateway Center |  | Boise |  | Nampa |  |  | ID |  |  | 2008 |  | DEV |  | 100% |  |  |  | 471 |  | 496 |  | $5.04 |  | Circustrix, Edwards Theatres, Idaho Athletic Club, JCPenney
140 |  | 3030 North Broadway |  | Chicago |  | Chicago |  |  | IL |  |  | 2016 |  | 2017 |  | 100% |  |  |  | 132 |  | 132 |  | $34.35 |  | Mariano’s, XSport Fitness
141 |  | Kingsbury Center |  | Chicago |  | Chicago |  |  | IL |  |  | 2012 |  | 2014 |  | 5% |  | BREDDR III |  | 53 |  | 53 |  | $30.16 |  | buybuy BABY
142 |  | The Maxwell |  | Chicago |  | Chicago |  |  | IL |  |  | 2014 |  | 2014 |  | 100% |  |  |  | 240 |  | 240 |  | $26.45 |  | Burlington, Dick’s Sporting Goods, Nordstrom Rack, T.J. Maxx
143 |  | Deer Park Town Center |  | Chicago |  | Deer Park |  |  | IL |  |  | 2004 |  | DEV |  | 50% |  | Other |  | 356 |  | 406 |  | $30.94 |  | Barnes & Noble (U), Century Theatre, Crate & Barrel, Gap
144 |  | Hillside Town Center |  | Chicago |  | Hillside |  |  | IL |  |  | 2009 |  | 2014 |  | 5% |  | BREDDR III |  | 165 |  | 365 |  | $16.44 |  | HomeGoods, Michaels, Ross Dress for Less, Target (U)
145 |  | The Shops at Fox River |  | Chicago |  | McHenry |  |  | IL |  |  | 2006 |  | DEV |  | 100% |  |  |  | 341 |  | 444 |  | $13.55 |  | Bed Bath & Beyond, Best Buy, Dick’s Sporting Goods, JCPenney (U), PetSmart, Ross Dress for Less, T.J. Maxx
146 |  | Prairie Market |  | Chicago |  | Oswego |  |  | IL |  |  | 2007 |  | 2014 |  | 5% |  | BREDDR III |  | 113 |  | 679 |  | $22.08 |  | Aldi, Best Buy (U), Dick’s Sporting Goods (U), Hobby Lobby (U), Kohl’s (U), PetSmart, Walmart (U)
147 |  | Woodfield Village Green |  | Chicago |  | Schaumburg |  |  | IL |  |  | 2015 |  | 1995 |  | 100% |  |  |  | 526 |  | 692 |  | $20.11 |  | At Home, Bloomingdale’s the Outlet Store, Container Store, Costco (U), HomeGoods, Marshalls, Michaels, Nordstrom Rack, PetSmart, Trader Joe’s

36

DDR Corp.

Property List

GLA in thousands

# |  | Center |  | MSA |  | Location |  | ST |  |  | Recent Year Dev. / Redev. |  | Year Acq. |  | DDR Own % |  | JV |  | Owned GLA |  | Total GLA |  | ABR PSF |  | Key Tenants
148 |  | Village Crossing |  | Chicago |  | Skokie |  |  | IL |  |  | 1989 |  | 2007 |  | 15% |  | TIAA |  | 449 |  | 449 |  | $21.41 |  | AMC Theatres, Barnes & Noble, Bed Bath & Beyond, Best Buy, Michaels, OfficeMax, PetSmart
149 |  | Brookside Marketplace |  | Chicago |  | Tinley Park |  |  | IL |  |  | 2013 |  | 2012 |  | 100% |  |  |  | 317 |  | 602 |  | $15.24 |  | Best Buy, Dick’s Sporting Goods, HomeGoods, Kohl’s (U), Michaels, PetSmart, Ross Dress for Less, T.J. Maxx, Target (U)
150 |  | Highland Grove Shopping Center |  | Chicago |  | Highland |  |  | IN |  |  | 2001 |  | 2007 |  | 20% |  | DDRM |  | 312 |  | 541 |  | $14.39 |  | Best Buy (U), Dick’s Sporting Goods (U), Kohl’s, Marshalls, Michaels, Target (U)
151 |  | East Lloyd Commons |  | Evansville |  | Evansville |  |  | IN |  |  | 2005 |  | 2007 |  | 100% |  |  |  | 160 |  | 160 |  | $16.03 |  | Best Buy, Michaels
152 |  | Merriam Village |  | Kansas City |  | Merriam |  |  | KS |  |  | 2005 |  | 2004 |  | 100% |  |  |  | 418 |  | 921 |  | $13.39 |  | Cinemark, Dick’s Sporting Goods, Hen House Market, Hobby Lobby, Home Depot (U), IKEA (U), Marshalls, OfficeMax, PetSmart
153 |  | Duvall Village |  | Balt-Wash DC |  | Bowie |  |  | MD |  |  | 1998 |  | 2007 |  | 100% |  |  |  | 88 |  | 88 |  | $22.70 |  | —
154 |  | Harundale Plaza |  | Balt-Wash DC |  | Glen Burnie |  |  | MD |  |  | 1999 |  | 2007 |  | 20% |  | Other |  | 218 |  | 218 |  | $9.68 |  | Burlington, HomeGoods, Regency Furniture
155 |  | Largo Town Center |  | Balt-Wash DC |  | Upper Marlboro |  |  | MD |  |  | 1991 |  | 2007 |  | 20% |  | Other |  | 277 |  | 281 |  | $15.34 |  | Marshalls, Regency Furniture, Shoppers Food Warehouse
156 |  | Costco Plaza |  | Balt-Wash DC |  | White Marsh |  |  | MD |  |  | 1992 |  | 2007 |  | 15% |  | TIAA |  | 210 |  | 335 |  | $7.53 |  | Big Lots, Costco, Home Depot (U), Pep Boys, PetSmart
157 |  | The Commons |  | Salisbury |  | Salisbury |  |  | MD |  |  | 1999 |  | DEV |  | 100% |  |  |  | 130 |  | 350 |  | $14.39 |  | Best Buy, Home Depot (U), Michaels, Target (U)
158 |  | Gateway Center |  | Boston |  | Everett |  |  | MA |  |  | 2001 |  | DEV |  | 100% |  |  |  | 354 |  | 640 |  | $16.18 |  | Babies “R” Us, Costco (U), Home Depot, Michaels, Old Navy, Target (U), Total Wine & More
159 |  | Shoppers World |  | Boston |  | Framingham |  |  | MA |  |  | 1994 |  | 1995 |  | 100% |  |  |  | 783 |  | 783 |  | $24.65 |  | A.C. Moore, AMC Theatres, Babies “R” Us, Barnes & Noble, Best Buy, DSW, Kohl’s, Macy’s Furniture Gallery, Marshalls, Nordstrom Rack, PetSmart, Sierra Trading Post, T.J. Maxx, Toys “R” Us
160 |  | Riverdale Shops |  | Springfield |  | West Springfield |  |  | MA |  |  | 2003 |  | 2007 |  | 20% |  | DDRM |  | 274 |  | 274 |  | $14.13 |  | Kohl’s, Stop & Shop
161 |  | Fairlane Green |  | Detroit |  | Allen Park |  |  | MI |  |  | 2005 |  | 2014 |  | 5% |  | BREDDR III |  | 270 |  | 401 |  | $19.32 |  | Barnes & Noble, Bed Bath & Beyond, Home Depot (U), Meijer (U), Michaels, T.J. Maxx, Target (U)
162 |  | Waterside Marketplace |  | Detroit |  | Chesterfield |  |  | MI |  |  | 2007 |  | 2014 |  | 5% |  | BREDDR III |  | 291 |  | 547 |  | $13.25 |  | Bed Bath & Beyond, Best Buy, Dick’s Sporting Goods, JCPenney (U), Jo-Ann, Lowe’s (U), T.J. Maxx
163 |  | Green Ridge Square |  | Grand Rapids |  | Grand Rapids |  |  | MI |  |  | 1995 |  | 1995 |  | 100% |  |  |  | 216 |  | 407 |  | $13.53 |  | Bed Bath & Beyond, Best Buy, Michaels, T.J. Maxx, Target (U), Toys “R” Us (U)
164 |  | Grandville Marketplace |  | Grand Rapids |  | Grandville |  |  | MI |  |  | 2003 |  | 2003 |  | 100% |  |  |  | 224 |  | 372 |  | $10.94 |  | Gander Mountain, Hobby Lobby, Lowe’s (U), OfficeMax
165 |  | Valley Center |  | Saginaw |  | Saginaw |  |  | MI |  |  | 1994 |  | 2014 |  | 5% |  | BREDDR III |  | 409 |  | 419 |  | $9.77 |  | Babies “R” Us, Barnes & Noble, Burlington, Dick’s Sporting Goods, DSW, Michaels, PetSmart, T.J. Maxx
166 |  | Riverdale Village |  | Minneapolis |  | Coon Rapids |  |  | MN |  |  | 2003 |  | DEV |  | 100% |  |  |  | 797 |  | 977 |  | $13.01 |  | Bed Bath & Beyond, Best Buy, Costco (U), Dick’s Sporting Goods, DSW, JCPenney, Jo-Ann, Kohl’s, Old Navy, T.J. Maxx
167 |  | Maple Grove Crossing |  | Minneapolis |  | Maple Grove |  |  | MN |  |  | 2002 |  | 1996 |  | 100% |  |  |  | 262 |  | 350 |  | $12.64 |  | Barnes & Noble, Bed Bath & Beyond, Cub Foods (U), Kohl’s, Michaels
168 |  | Midway Marketplace |  | Minneapolis |  | St. Paul |  |  | MN |  |  | 1995 |  | 1997 |  | 100% |  |  |  | 324 |  | 487 |  | $8.64 |  | Cub Foods, Herberger’s (U), LA Fitness, T.J. Maxx, Walmart
169 |  | Crossroads Center |  | Gulfport |  | Gulfport |  |  | MS |  |  | 1999 |  | 2003 |  | 100% |  |  |  | 555 |  | 591 |  | $11.65 |  | Academy Sports, Barnes & Noble, Belk, Burke’s Outlet, Cinemark, Forever 21, Michaels, Ross Dress for Less, T.J. Maxx
170 |  | Big Oaks Crossing |  | Tupelo |  | Tupelo |  |  | MS |  |  | 1992 |  | 1994 |  | 100% |  |  |  | 348 |  | 348 |  | $6.16 |  | Jo-Ann, Sam’s Club, Walmart
171 |  | Independence Commons |  | Kansas City |  | Independence |  |  | MO |  |  | 1999 |  | 1995 |  | 100% |  |  |  | 386 |  | 403 |  | $14.86 |  | AMC Theatres, Barnes & Noble, Best Buy, Kohl’s, Marshalls, Ross Dress for Less
172 |  | The Promenade at Brentwood |  | St Louis |  | Brentwood |  |  | MO |  |  | 1998 |  | 1998 |  | 100% |  |  |  | 338 |  | 338 |  | $15.11 |  | Bed Bath & Beyond, Micro Center, PetSmart, Target, Trader Joe’s
173 |  | Del Monte Plaza |  | Reno |  | Reno |  |  | NV |  |  | 1988 |  | 2014 |  | 5% |  | BREDDR III |  | 83 |  | 177 |  | $17.48 |  | Macy’s Furniture Gallery (U), Sierra Trading Post, Whole Foods
174 |  | Seabrook Commons |  | Boston |  | Seabrook |  |  | NH |  |  | 2014 |  | DEV |  | 100% |  |  |  | 175 |  | 393 |  | $18.55 |  | Dick’s Sporting Goods, Walmart (U)
175 |  | Hamilton Commons |  | Atlantic City |  | Mays Landing |  |  | NJ |  |  | 2001 |  | 2004 |  | 100% |  |  |  | 397 |  | 397 |  | $18.11 |  | Bed Bath & Beyond, Marshalls, Regal Cinemas, Ross Dress for Less
176 |  | Wrangleboro Consumer Square |  | Atlantic City |  | Mays Landing |  |  | NJ |  |  | 1997 |  | 2004 |  | 100% |  |  |  | 842 |  | 842 |  | $13.35 |  | Babies “R” Us, Best Buy, BJ’s Wholesale Club, Books-A-Million, Christmas Tree Shops, Dick’s Sporting Goods, Just Cabinets, Kohl’s, Michaels, PetSmart, Staples, Target
177 |  | East Hanover Plaza |  | New York |  | East Hanover |  |  | NJ |  |  | 1994 |  | 2007 |  | 100% |  |  |  | 98 |  | 359 |  | $20.47 |  | Costco (U), HomeGoods, Target (U)
178 |  | Edgewater Towne Center |  | New York |  | Edgewater |  |  | NJ |  |  | 2000 |  | 2007 |  | 100% |  |  |  | 78 |  | 78 |  | $25.10 |  | Whole Foods
179 |  | Freehold Marketplace |  | New York |  | Freehold |  |  | NJ |  |  | 2005 |  | DEV |  | 100% |  |  |  | 30 |  | 368 |  | $32.47 |  | Sam’s Club (U), Walmart (U)
180 |  | Lewandowski Commons |  | New York |  | Lyndhurst |  |  | NJ |  |  | 1998 |  | 2007 |  | 20% |  | SAU |  | 78 |  | 78 |  | $22.72 |  | Stop & Shop
181 |  | Route 22 Retail Center |  | New York |  | Union |  |  | NJ |  |  | 1997 |  | 2007 |  | 100% |  |  |  | 112 |  | 237 |  | $18.61 |  | Babies “R” Us, Dick’s Sporting Goods, Target (U)
182 |  | Consumer Centre |  | New York |  | West Long Branch |  |  | NJ |  |  | 1993 |  | 2004 |  | 100% |  |  |  | 292 |  | 292 |  | $13.39 |  | buybuy BABY, Home Depot, PetSmart
183 |  | West Falls Plaza |  | New York |  | Woodland Park |  |  | NJ |  |  | 1995 |  | 2007 |  | 20% |  | DDRM |  | 89 |  | 89 |  | $20.84 |  | —
184 |  | Crossroads Plaza |  | Philadelphia |  | Lumberton |  |  | NJ |  |  | 2003 |  | 2007 |  | 20% |  | DDRM |  | 100 |  | 215 |  | $18.28 |  | Lowe’s (U), ShopRite
185 |  | Hamilton Marketplace |  | Trenton |  | Hamilton |  |  | NJ |  |  | 2004 |  | 2003 |  | 100% |  |  |  | 532 |  | 960 |  | $17.92 |  | Barnes & Noble, Bed Bath & Beyond, BJ’s Wholesale Club (U), Kohl’s, Lowe’s (U), Michaels, Ross Dress for Less, ShopRite, Staples, Walmart (U)
186 |  | Nassau Park Pavilion |  | Trenton |  | Princeton |  |  | NJ |  |  | 2005 |  | 1997 |  | 100% |  |  |  | 609 |  | 1,117 |  | $16.71 |  | Babies “R” Us, Best Buy, buybuy BABY, Dick’s Sporting Goods, Home Depot (U), HomeGoods, Michaels, PetSmart, Sam’s Club (U), Target (U), Walmart (U), Wegmans
187 |  | Southern Tier Crossing |  | Elmira |  | Horseheads |  |  | NY |  |  | 2008 |  | DEV |  | 100% |  |  |  | 175 |  | 523 |  | $15.92 |  | Aldi (U), Dick’s Sporting Goods, Jo-Ann, Kohl’s (U), Walmart (U)
188 |  | The Hub |  | New York |  | Hempstead |  |  | NY |  |  | 2001 |  | 2015 |  | 5% |  | BREDDR IV |  | 249 |  | 249 |  | $14.02 |  | Home Depot, Super Stop & Shop
189 |  | Belgate Shopping Center |  | Charlotte |  | Charlotte |  |  | NC |  |  | 2013 |  | DEV |  | 100% |  |  |  | 262 |  | 883 |  | $13.57 |  | Burlington, Cost Plus World Market, Furniture Row (U), Hobby Lobby, IKEA (U), Marshalls, Old Navy, PetSmart, T.J. Maxx, Walmart (U)
190 |  | Carolina Pavilion |  | Charlotte |  | Charlotte |  |  | NC |  |  | 1997 |  | 2012 |  | 100% |  |  |  | 726 |  | 871 |  | $13.69 |  | AMC Theatres, Babies “R” Us, Bed Bath & Beyond, Big Lots, buybuy BABY, Conn’s, Jo-Ann, Nordstrom Rack, Old Navy, Ross Dress for Less, Sears Outlet, Target (U), Value City Furniture
191 |  | Cotswold Village |  | Charlotte |  | Charlotte |  |  | NC |  |  | 2013 |  | 2011 |  | 100% |  |  |  | 261 |  | 261 |  | $22.30 |  | Harris Teeter, Marshalls, PetSmart
192 |  | The Shops at the Fresh Market |  | Charlotte |  | Cornelius |  |  | NC |  |  | 2001 |  | 2007 |  | 100% |  |  |  | 130 |  | 130 |  | $11.87 |  | Stein Mart, The Fresh Market
193 |  | Birkdale Village |  | Charlotte |  | Huntersville |  |  | NC |  |  | 2003 |  | 2007 |  | 15% |  | TIAA |  | 299 |  | 387 |  | $27.44 |  | Barnes & Noble, Dick’s Sporting Goods, Regal Cinemas (U)

37

DDR Corp.

Property List

GLA in thousands

# |  | Center |  | MSA |  | Location |  | ST |  |  | Recent Year Dev. / Redev. |  | Year Acq. |  | DDR Own % |  | JV |  | Owned GLA |  | Total GLA |  | ABR PSF |  | Key Tenants
194 |  | Rosedale Shopping Center |  | Charlotte |  | Huntersville |  |  | NC |  |  | 2000 |  | 2007 |  | 20% |  | DDRM |  | 119 |  | 119 |  | $17.32 |  | Harris Teeter
195 |  | Winslow Bay Commons |  | Charlotte |  | Mooresville |  |  | NC |  |  | 2003 |  | 2007 |  | 15% |  | TIAA |  | 268 |  | 442 |  | $14.52 |  | Dick’s Sporting Goods, HomeGoods, Michaels, Ross Dress for Less, T.J. Maxx, Target (U)
196 |  | Fayetteville Pavilion |  | Fayetteville |  | Fayetteville |  |  | NC |  |  | 2001 |  | 2007 |  | 20% |  | DDRM |  | 274 |  | 274 |  | $12.21 |  | Christmas Tree Shops, Dick’s Sporting Goods, Food Lion, Marshalls, Michaels, PetSmart
197 |  | Wendover Village |  | Greensboro |  | Greensboro |  |  | NC |  |  | 2004 |  | 2007 |  | 100% |  |  |  | 36 |  | 171 |  | $31.46 |  | Costco (U)
198 |  | Shoppes at Oliver’s Crossing |  | Greensboro |  | Winston Salem |  |  | NC |  |  | 2003 |  | 2007 |  | 20% |  | DDRM |  | 77 |  | 77 |  | $13.38 |  | Lowes Foods
199 |  | Walmart |  | Greensboro |  | Winston Salem |  |  | NC |  |  | 1998 |  | 2007 |  | 100% |  |  |  | 205 |  | 205 |  | $6.85 |  | Walmart
200 |  | Beaver Creek Crossings |  | Raleigh |  | Apex |  |  | NC |  |  | 2006 |  | DEV |  | 100% |  |  |  | 321 |  | 321 |  | $16.42 |  | Burke’s Outlet, Dick’s Sporting Goods, Regal Beaver Creek 12, T.J. Maxx
201 |  | Meadowmont Village |  | Raleigh |  | Chapel Hill |  |  | NC |  |  | 2002 |  | 2007 |  | 20% |  | DDRM |  | 132 |  | 132 |  | $21.76 |  | Harris Teeter
202 |  | Clayton Corners |  | Raleigh |  | Clayton |  |  | NC |  |  | 1999 |  | 2007 |  | 20% |  | DDRM |  | 126 |  | 126 |  | $12.24 |  | Lowes Foods
203 |  | Sexton Commons |  | Raleigh |  | Fuquay Varina |  |  | NC |  |  | 2002 |  | 2007 |  | 20% |  | DDRM |  | 49 |  | 49 |  | $17.41 |  | Harris Teeter
204 |  | Alexander Place |  | Raleigh |  | Raleigh |  |  | NC |  |  | 2004 |  | 2007 |  | 15% |  | TIAA |  | 198 |  | 408 |  | $17.02 |  | Kohl’s, Walmart (U)
205 |  | Capital Crossing |  | Raleigh |  | Raleigh |  |  | NC |  |  | 1995 |  | 2007 |  | 100% |  |  |  | 83 |  | 463 |  | $9.89 |  | At Home (U), Conn’s, Lowe’s (U), PetSmart (U), Sam’s Club (U), Staples
206 |  | Poyner Place |  | Raleigh |  | Raleigh |  |  | NC |  |  | 2012 |  | 2012 |  | 100% |  |  |  | 254 |  | 435 |  | $16.55 |  | Cost Plus World Market, Old Navy, Ross Dress for Less, Target (U), Toys “R” Us/Babies “R” Us
207 |  | University Centre |  | Wilmington |  | Wilmington |  |  | NC |  |  | 2001 |  | IPO |  | 100% |  |  |  | 418 |  | 525 |  | $10.86 |  | Bed Bath & Beyond, Lowe’s, Old Navy, Ollie’s Bargain Outlet, Ross Dress for Less, Sam’s Club (U)
208 |  | CVS |  | Bellevue |  | Bellevue |  |  | OH |  |  | 1998 |  | 2014 |  | 5% |  | BREDDR III |  | 10 |  | 10 |  | $14.46 |  | —
209 |  | Kenwood Square |  | Cincinnati |  | Cincinnati |  |  | OH |  |  | 2008 |  | 2013 |  | 100% |  |  |  | 432 |  | 466 |  | $19.00 |  | Dick’s Sporting Goods, Macy’s Furniture Gallery, T.J. Maxx, The Fresh Market, Toys “R” Us/Babies “R” Us
210 |  | Western Hills Square |  | Cincinnati |  | Cincinnati |  |  | OH |  |  | 1998 |  | 2014 |  | 5% |  | BREDDR III |  | 34 |  | 258 |  | $12.67 |  | Kroger (U), PetSmart, Walmart (U)
211 |  | Waterstone Center |  | Cincinnati |  | Mason |  |  | OH |  |  | 1998 |  | 2014 |  | 100% |  |  |  | 158 |  | 430 |  | $15.58 |  | Barnes & Noble, Bassett Home Furnishings, Best Buy, Costco (U), Michaels, Target (U)
212 |  | Macedonia Commons |  | Cleveland |  | Macedonia |  |  | OH |  |  | 1994 |  | 1994 |  | 100% |  |  |  | 312 |  | 604 |  | $14.46 |  | Cinemark, Hobby Lobby, Home Depot (U), Kohl’s, Walmart (U)
213 |  | Belden Park Crossings |  | Cleveland |  | North Canton |  |  | OH |  |  | 2003 |  | DEV |  | 100% |  |  |  | 481 |  | 596 |  | $12.84 |  | Dick’s Sporting Goods, DSW, Jo-Ann, Kohl’s, PetSmart, Target (U), Value City Furniture
214 |  | Great Northern Plaza |  | Cleveland |  | North Olmsted |  |  | OH |  |  | 2013 |  | 1997 |  | 100% |  |  |  | 631 |  | 669 |  | $13.91 |  | Bed Bath & Beyond, Best Buy, Big Lots, Burlington, DSW, Home Depot, Jo-Ann, K&G Fashion Superstore, Marc’s, PetSmart
215 |  | Uptown Solon |  | Cleveland |  | Solon |  |  | OH |  |  | 1998 |  | DEV |  | 100% |  |  |  | 182 |  | 182 |  | $16.49 |  | Bed Bath & Beyond, Mustard Seed Market & Cafe
216 |  | Stow Community Center |  | Cleveland |  | Stow |  |  | OH |  |  | 2008 |  | DEV |  | 100% |  |  |  | 401 |  | 503 |  | $11.15 |  | Bed Bath & Beyond, Giant Eagle, Hobby Lobby, Kohl’s, OfficeMax, Target (U)
217 |  | West Bay Plaza |  | Cleveland |  | Westlake |  |  | OH |  |  | 2000 |  | IPO |  | 100% |  |  |  | 162 |  | 162 |  | $14.75 |  | Marc’s
218 |  | Easton Market |  | Columbus |  | Columbus |  |  | OH |  |  | 2013 |  | 1998 |  | 100% |  |  |  | 508 |  | 559 |  | $15.98 |  | Bed Bath & Beyond, buybuy BABY, DSW, Michaels, Nordstrom Rack, PetSmart, Staples, T.J. Maxx, Value City Furniture
219 |  | Hilliard Rome Commons |  | Columbus |  | Columbus |  |  | OH |  |  | 2001 |  | 2007 |  | 20% |  | DDRM |  | 111 |  | 111 |  | $14.61 |  | —
220 |  | Lennox Town Center |  | Columbus |  | Columbus |  |  | OH |  |  | 1997 |  | 1998 |  | 50% |  | Other |  | 374 |  | 374 |  | $12.00 |  | AMC Theatres, Barnes & Noble, Staples, Target
221 |  | Polaris Towne Center |  | Columbus |  | Columbus |  |  | OH |  |  | 1999 |  | 2011 |  | 100% |  |  |  | 458 |  | 730 |  | $16.61 |  | Best Buy, Big Lots, Jo-Ann, Kroger, Lowe’s (U), OfficeMax, T.J. Maxx, Target (U)
222 |  | Sun Center |  | Columbus |  | Columbus |  |  | OH |  |  | 1995 |  | 1998 |  | 79% |  | Other |  | 316 |  | 358 |  | $14.21 |  | Ashley Furniture HomeStore, Babies “R” Us, Michaels, Staples, Stein Mart, Whole Foods
223 |  | Perimeter Center |  | Columbus |  | Dublin |  |  | OH |  |  | 1996 |  | 1998 |  | 100% |  |  |  | 136 |  | 136 |  | $16.57 |  | Giant Eagle
224 |  | Derby Square |  | Columbus |  | Grove City |  |  | OH |  |  | 1992 |  | 1998 |  | 20% |  | DDRM |  | 125 |  | 134 |  | $11.00 |  | Giant Eagle
225 |  | Powell Center |  | Columbus |  | Lewis Center |  |  | OH |  |  | 2000 |  | 2014 |  | 5% |  | BREDDR III |  | 202 |  | 233 |  | $13.36 |  | Giant Eagle, HomeGoods, Marshalls, Michaels
226 |  | North Heights Plaza |  | Dayton |  | Huber Heights |  |  | OH |  |  | 1990 |  | 1993 |  | 100% |  |  |  | 182 |  | 295 |  | $12.43 |  | Bed Bath & Beyond (U), Big Lots, Dick’s Sporting Goods, Hobby Lobby (U), Sears Outlet (U)
227 |  | Shoppes on South Main |  | Toledo |  | Bowling Green |  |  | OH |  |  | 1978 |  | 2014 |  | 5% |  | BREDDR III |  | 111 |  | 222 |  | $10.93 |  | Home Depot (U), T.J. Maxx
228 |  | North Towne Commons |  | Toledo |  | Toledo |  |  | OH |  |  | 1995 |  | 2004 |  | 100% |  |  |  | 80 |  | 295 |  |  |  | Kroger (U), T.J. Maxx (U), Target (U)
229 |  | Springfield Commons |  | Toledo |  | Toledo |  |  | OH |  |  | 1999 |  | DEV |  | 20% |  | DDRM |  | 272 |  | 272 |  | $11.24 |  | Babies “R” Us, Bed Bath & Beyond, Gander Mountain, Kohl’s, Old Navy
230 |  | Gresham Station |  | Portland |  | Gresham |  |  | OR |  |  | 2000 |  | 2016 |  | 100% |  |  |  | 342 |  | 342 |  | $19.63 |  | Bed Bath & Beyond, Best Buy, Craft Warehouse, LA Fitness
231 |  | Tanasbourne Town Center |  | Portland |  | Portland |  |  | OR |  |  | 2001 |  | 1996 |  | 100% |  |  |  | 310 |  | 571 |  | $20.27 |  | Barnes & Noble, Bed Bath & Beyond, Best Buy (U), Michaels, Nordstrom Rack (U), Office Depot, Ross Dress for Less, Target (U)

38

DDR Corp.

Property List

GLA in thousands

# |  | Center |  | MSA |  | Location |  | ST |  |  | Recent Year Dev. / Redev. |  | Year Acq. |  | DDR Own % |  | JV |  | Owned GLA |  | Total GLA |  | ABR PSF |  | Key Tenants
232 |  | West Valley Marketplace |  | Allentown |  | Allentown |  |  | PA |  |  | 2004 |  | 2003 |  | 100% |  |  |  | 259 |  | 268 |  | $10.94 |  | Walmart
233 |  | Southmont Plaza |  | Allentown |  | Easton |  |  | PA |  |  | 2004 |  | 2015 |  | 5% |  | BREDDR IV |  | 251 |  | 386 |  | $15.58 |  | Barnes & Noble, Bed Bath & Beyond, Best Buy, Dick’s Sporting Goods, Lowe’s (U), Michaels, Staples
234 |  | Peach Street Marketplace |  | Erie |  | Erie |  |  | PA |  |  | 2012 |  | DEV |  | 100% |  |  |  | 721 |  | 1,001 |  | $10.14 |  | Babies “R” Us, Bed Bath & Beyond, Best Buy (U), Burlington, Cinemark, Erie Sports, Hobby Lobby, Home Depot (U), Kohl’s, Lowe’s, Marshalls, PetSmart, Target (U)
235 |  | Silver Spring Square |  | Harrisburg |  | Mechanicsburg |  |  | PA |  |  | 2001 |  | 2013 |  | 100% |  |  |  | 343 |  | 569 |  | $17.74 |  | Bed Bath & Beyond, Best Buy, Kohl’s (U), Ross Dress for Less, Target (U), Wegmans
236 |  | Ashbridge Square |  | Philadelphia |  | Downingtown |  |  | PA |  |  | 1999 |  | 2015 |  | 5% |  | BREDDR IV |  | 386 |  | 386 |  | $10.99 |  | Best Buy, Christmas Tree Shops, Home Depot, Jo-Ann, Staples
237 |  | Noble Town Center |  | Philadelphia |  | Jenkintown |  |  | PA |  |  | 1999 |  | 2014 |  | 100% |  |  |  | 168 |  | 168 |  | $15.89 |  | AFC Fitness, Bed Bath & Beyond, PetSmart, Ross Dress for Less, Stein Mart
238 |  | Overlook at King of Prussia |  | Philadelphia |  | King Of Prussia |  |  | PA |  |  | 2002 |  | 2007 |  | 15% |  | TIAA |  | 195 |  | 195 |  | $28.57 |  | Best Buy, Off 5th, United Artists Theatre
239 |  | Widewater Commons |  | Uniontown |  | Uniontown |  |  | PA |  |  | 2008 |  | 2014 |  | 5% |  | BREDDR III |  | 47 |  | 171 |  | $14.18 |  | PetSmart, Target (U)
240 |  | Plaza Isabela |  | Aguadilla-Isabella |  | Isabela |  |  | PR |  |  | 1994 |  | 2005 |  | 100% |  |  |  | 259 |  | 259 |  | $15.59 |  | Selectos Supermarket, Walmart
241 |  | Plaza Fajardo |  | Fajardo |  | Fajardo |  |  | PR |  |  | 2013 |  | 2005 |  | 100% |  |  |  | 274 |  | 274 |  | $17.40 |  | Econo, Walmart
242 |  | Plaza Walmart |  | Guayama |  | Guayama |  |  | PR |  |  | 1994 |  | 2005 |  | 100% |  |  |  | 164 |  | 164 |  | $9.39 |  | Walmart
243 |  | Plaza del Atlántico |  | San Juan |  | Arecibo |  |  | PR |  |  | 1993 |  | 2005 |  | 100% |  |  |  | 223 |  | 223 |  | $12.17 |  | Capri Del Atlantico, Kmart
244 |  | Plaza del Sol |  | San Juan |  | Bayamon |  |  | PR |  |  | 2014 |  | 2005 |  | 100% |  |  |  | 612 |  | 724 |  | $32.17 |  | Bed Bath & Beyond, Caribbean Cinemas, H & M, Home Depot (U), Old Navy, Walmart
245 |  | Plaza Río Hondo |  | San Juan |  | Bayamon |  |  | PR |  |  | 2015 |  | 2005 |  | 100% |  |  |  | 555 |  | 555 |  | $26.37 |  | Best Buy, Caribbean Cinemas, Kmart, Marshalls Mega Store, Pueblo, T.J. Maxx
246 |  | Plaza Escorial |  | San Juan |  | Carolina |  |  | PR |  |  | 1997 |  | 2005 |  | 100% |  |  |  | 524 |  | 636 |  | $16.29 |  | Caribbean Cinemas, Home Depot (U), OfficeMax, Old Navy, Sam’s Club, Walmart
247 |  | Plaza Cayey |  | San Juan |  | Cayey |  |  | PR |  |  | 2004 |  | 2005 |  | 100% |  |  |  | 313 |  | 339 |  | $9.32 |  | Caribbean Cinemas (U), Walmart
248 |  | Plaza del Norte |  | San Juan |  | Hatillo |  |  | PR |  |  | 2012 |  | 2005 |  | 100% |  |  |  | 682 |  | 699 |  | $17.92 |  | Caribbean Cinemas, JCPenney, OfficeMax, Rooms To Go, Sears, T.J. Maxx, Toys “R” Us/Babies “R” Us
249 |  | Plaza Palma Real |  | San Juan |  | Humacao |  |  | PR |  |  | 1995 |  | 2005 |  | 100% |  |  |  | 449 |  | 449 |  | $16.78 |  | Capri, JCPenney, Marshalls, Pep Boys, Walmart
250 |  | Señorial Plaza |  | San Juan |  | Rio Piedras |  |  | PR |  |  | 2010 |  | 2005 |  | 100% |  |  |  | 202 |  | 202 |  | $17.64 |  | Pueblo
251 |  | Plaza Vega Baja |  | San Juan |  | Vega Baja |  |  | PR |  |  | 1990 |  | 2005 |  | 100% |  |  |  | 185 |  | 185 |  | $11.81 |  | Econo
252 |  | Warwick Center |  | Providence |  | Warwick |  |  | RI |  |  | 2004 |  | 2007 |  | 15% |  | TIAA |  | 153 |  | 153 |  | $19.14 |  | Barnes & Noble, Dick’s Sporting Goods, DSW
253 |  | Ashley Crossing |  | Charleston |  | Charleston |  |  | SC |  |  | 2011 |  | 2003 |  | 100% |  |  |  | 208 |  | 217 |  | $9.49 |  | Food Lion, Jo-Ann, Kohl’s, Marshalls
254 |  | Wando Crossing |  | Charleston |  | Mount Pleasant |  |  | SC |  |  | 2000 |  | 1995 |  | 100% |  |  |  | 205 |  | 326 |  | $13.56 |  | Marshalls, Michaels, Office Depot, T.J. Maxx, Walmart (U)
255 |  | Columbiana Station |  | Columbia |  | Columbia |  |  | SC |  |  | 2003 |  | 2007 |  | 15% |  | TIAA |  | 375 |  | 436 |  | $15.54 |  | buybuy BABY, Columbia Grand Theatre (U), Dick’s Sporting Goods, Michaels, PetSmart
256 |  | Harbison Court |  | Columbia |  | Columbia |  |  | SC |  |  | 2015 |  | 2002 |  | 100% |  |  |  | 242 |  | 301 |  | $14.51 |  | Babies “R” Us (U), Marshalls, Nordstrom Rack, Ross Dress for Less
257 |  | Midtowne Park |  | Greenville |  | Anderson |  |  | SC |  |  | 2008 |  | 2014 |  | 5% |  | BREDDR III |  | 167 |  | 174 |  | $11.64 |  | Dick’s Sporting Goods, Kohl’s, Staples
258 |  | Hobby Lobby Center |  | Greenville |  | Greenville |  |  | SC |  |  | 2004 |  | 2014 |  | 5% |  | BREDDR III |  | 69 |  | 268 |  | $8.92 |  | Hobby Lobby, Walmart (U)
259 |  | The Point |  | Greenville |  | Greenville |  |  | SC |  |  | 2005 |  | 2007 |  | 20% |  | SAU |  | 104 |  | 104 |  | $17.01 |  | REI, Whole Foods
260 |  | Walmart |  | Greenville |  | Greenville |  |  | SC |  |  | 1998 |  | 2007 |  | 100% |  |  |  | 200 |  | 200 |  | $6.36 |  | Walmart
261 |  | Fairview Station |  | Greenville |  | Simpsonville |  |  | SC |  |  | 1990 |  | 1994 |  | 100% |  |  |  | 153 |  | 153 |  | $6.86 |  | Ingles, Kohl’s
262 |  | The Plaza at Carolina Forest |  | Myrtle Beach |  | Myrtle Beach |  |  | SC |  |  | 1999 |  | 2007 |  | 20% |  | SAU |  | 140 |  | 140 |  | $13.14 |  | Kroger
263 |  | Pavilion of Turkey Creek |  | Knoxville |  | Knoxville |  |  | TN |  |  | 2001 |  | 2007 |  | 15% |  | TIAA |  | 277 |  | 658 |  | $14.76 |  | DSW, Hobby Lobby, OfficeMax, Old Navy, Ross Dress for Less, Target (U), Walmart (U)
264 |  | Town & Country Commons |  | Knoxville |  | Knoxville |  |  | TN |  |  | 1997 |  | 2007 |  | 15% |  | TIAA |  | 655 |  | 655 |  | $10.95 |  | Best Buy, Conn’s, Dick’s Sporting Goods, Jo-Ann, Knoxville 16, Lowe’s, Staples, Tuesday Morning
265 |  | American Way |  | Memphis |  | Memphis |  |  | TN |  |  | 1988 |  | 2007 |  | 20% |  | SAU |  | 110 |  | 110 |  | $7.85 |  | —
266 |  | Crossroads Square |  | Morristown |  | Morristown |  |  | TN |  |  | 2004 |  | 2007 |  | 20% |  | SAU |  | 70 |  | 95 |  | $6.42 |  | Bargain Hunt, OfficeMax (U)
267 |  | Cool Springs Pointe |  | Nashville |  | Brentwood |  |  | TN |  |  | 2004 |  | 2000 |  | 100% |  |  |  | 198 |  | 198 |  | $15.90 |  | Best Buy, Ross Dress for Less, Royal Furniture
268 |  | Lowe’s Home Improvement |  | Nashville |  | Hendersonville |  |  | TN |  |  | 1999 |  | 2003 |  | 100% |  |  |  | 129 |  | 141 |  | $8.83 |  | Lowe’s
269 |  | Bellevue Place |  | Nashville |  | Nashville |  |  | TN |  |  | 2003 |  | 2007 |  | 15% |  | TIAA |  | 77 |  | 192 |  | $12.70 |  | Bed Bath & Beyond, Home Depot (U), Michaels
270 |  | Kyle Crossing |  | Austin |  | Kyle |  |  | TX |  |  | 2010 |  | DEV |  | 100% |  |  |  | 121 |  | 375 |  | $19.18 |  | Kohl’s (U), Ross Dress for Less, Target (U)
271 |  | Kyle Marketplace |  | Austin |  | Kyle |  |  | TX |  |  | 2007 |  | 2014 |  | 5% |  | BREDDR III |  | 226 |  | 226 |  | $16.01 |  | H-E-B Plus!
272 |  | McAlister Square |  | Dallas |  | Burleson |  |  | TX |  |  | 2007 |  | 2014 |  | 5% |  | BREDDR III |  | 169 |  | 169 |  | $11.01 |  | Academy Sports, Party City
273 |  | Cedar Hill Village |  | Dallas |  | Cedar Hill |  |  | TX |  |  | 2002 |  | 2014 |  | 5% |  | BREDDR III |  | 44 |  | 150 |  | $18.19 |  | 24 Hour Fitness, JCPenney (U)
274 |  | Eastchase Market |  | Dallas-FTW |  | Fort Worth |  |  | TX |  |  | 1997 |  | 2014 |  | 5% |  | BREDDR III |  | 262 |  | 420 |  | $11.32 |  | Aldi (U), AMC Theatres, Burke’s Outlet, Marshalls, Ross Dress for Less, Spec’s Wine, Spirits, & Finer Foods, Target (U)
275 |  | The Marketplace at Highland Village |  | Dallas-FTW |  | Highland Village |  |  | TX |  |  | 2007 |  | 2013 |  | 100% |  |  |  | 207 |  | 451 |  | $16.85 |  | DSW, LA Fitness, Petco, T.J. Maxx/HomeGoods, Walmart (U)

39

DDR Corp.

Property List

GLA in thousands

# |  | Center |  | MSA |  | Location |  | ST |  |  | Recent Year Dev. / Redev. |  | Year Acq. |  | DDR Own % |  | JV |  | Owned GLA |  | Total GLA |  | ABR PSF |  | Key Tenants
276 |  | MacArthur Marketplace |  | Dallas-FTW |  | Irving |  |  | TX |  |  | 2004 |  | 2003 |  | 100% |  |  |  | 252 |  | 602 |  | $9.82 |  | Hollywood Theatres, Kohl’s, Sam’s Club (U), Walmart (U)
277 |  | The Marketplace at Towne Centre |  | Dallas-FTW |  | Mesquite |  |  | TX |  |  | 2001 |  | 2003 |  | 100% |  |  |  | 174 |  | 399 |  | $15.91 |  | Cavender’s (U), Home Depot (U), Kohl’s (U), Michaels, PetSmart, Ross Dress for Less
278 |  | Greenway Commons |  | Houston |  | Houston |  |  | TX |  |  | 2008 |  | 2014 |  | 5% |  | BREDDR III |  | 253 |  | 258 |  | $19.05 |  | Costco, LA Fitness
279 |  | Willowbrook Plaza |  | Houston |  | Houston |  |  | TX |  |  | 2014 |  | 2015 |  | 100% |  |  |  | 385 |  | 393 |  | $15.43 |  | AMC Theatres, Bed Bath & Beyond, Bel Furniture, buybuy BABY, Cost Plus World Market
280 |  | Bandera Pointe |  | San Antonio |  | San Antonio |  |  | TX |  |  | 2002 |  | DEV |  | 100% |  |  |  | 500 |  | 851 |  | $13.12 |  | Barnes & Noble, Gold’s Gym, Jo-Ann, Kohl’s (U), Lowe’s, Old Navy, PetSmart, Ross Dress for Less, Spec’s Wine, Spirits & Finer Foods (U), T.J. Maxx, Target (U)
281 |  | Terrell Plaza |  | San Antonio |  | San Antonio |  |  | TX |  |  | 2012 |  | 2007 |  | 100% |  |  |  | 108 |  | 243 |  | $19.30 |  | Ross Dress for Less, Target (U)
282 |  | Village at Stone Oak |  | San Antonio |  | San Antonio |  |  | TX |  |  | 2007 |  | DEV |  | 100% |  |  |  | 448 |  | 623 |  | $20.98 |  | Alamo Drafthouse Cinema, Hobby Lobby, HomeGoods, Target (U)
283 |  | Fortuna Center Plaza |  | Balt-Wash DC |  | Dumfries |  |  | VA |  |  | 2006 |  | 2013 |  | 100% |  |  |  | 105 |  | 232 |  | $16.36 |  | Shoppers Food Warehouse, Target (U)
284 |  | Fairfax Towne Center |  | Balt-Wash DC |  | Fairfax |  |  | VA |  |  | 1994 |  | 1995 |  | 100% |  |  |  | 253 |  | 253 |  | $19.77 |  | Bed Bath & Beyond, Jo-Ann, Regal Cinemas, Safeway, T.J. Maxx
285 |  | Springfield Center |  | Balt-Wash DC |  | Springfield |  |  | VA |  |  | 1999 |  | 2007 |  | 100% |  |  |  | 177 |  | 177 |  | $22.26 |  | Barnes & Noble, Bed Bath & Beyond, DSW, Michaels, The Tile Shop
286 |  | Bermuda Square |  | Richmond |  | Chester |  |  | VA |  |  | 1978 |  | 2003 |  | 100% |  |  |  | 82 |  | 82 |  | $25.51 |  | Martin’s
287 |  | Creeks at Virginia Centre |  | Richmond |  | Glen Allen |  |  | VA |  |  | 2002 |  | 2007 |  | 15% |  | TIAA |  | 266 |  | 266 |  | $15.57 |  | Barnes & Noble, Bed Bath & Beyond, Dick’s Sporting Goods, Michaels, Ross Dress for Less
288 |  | Commonwealth Center |  | Richmond |  | Midlothian |  |  | VA |  |  | 2002 |  | 2007 |  | 100% |  |  |  | 166 |  | 166 |  | $16.27 |  | Michaels, Stein Mart, The Fresh Market
289 |  | Downtown Short Pump |  | Richmond |  | Richmond |  |  | VA |  |  | 2000 |  | 2007 |  | 100% |  |  |  | 126 |  | 252 |  | $22.46 |  | American Family Fitness (U), Barnes & Noble, Regal Cinemas, Skate Nation (U)
290 |  | White Oak Village |  | Richmond |  | Richmond |  |  | VA |  |  | 2008 |  | 2014 |  | 5% |  | BREDDR III |  | 432 |  | 956 |  | $15.75 |  | JCPenney, K&G Fashion Superstore, Lowe’s (U), Michaels, PetSmart, Publix, Sam’s Club (U), Target (U)
291 |  | Indian Lakes Crossing |  | Virginia Beach |  | Virginia Beach |  |  | VA |  |  | 2008 |  | 2014 |  | 5% |  | BREDDR III |  | 71 |  | 71 |  | $15.23 |  | Harris Teeter
292 |  | Kroger Plaza |  | Virginia Beach |  | Virginia Beach |  |  | VA |  |  | 1997 |  | 2007 |  | 20% |  | SAU |  | 68 |  | 86 |  | $3.71 |  | Kroger
293 |  | Apple Blossom Corners |  | Winchester |  | Winchester |  |  | VA |  |  | 1997 |  | IPO |  | 20% |  | DDRM |  | 243 |  | 243 |  | $11.10 |  | Books-A-Million, HomeGoods, Kohl’s, Martin’s
294 |  | Winchester Station |  | Winchester |  | Winchester |  |  | VA |  |  | 2005 |  | 2014 |  | 5% |  | BREDDR III |  | 183 |  | 417 |  | $15.49 |  | Bed Bath & Beyond, Michaels, Ross Dress for Less, Walmart (U)
295 |  | Orchards Market Center |  | Portland |  | Vancouver |  |  | WA |  |  | 2005 |  | 2013 |  | 100% |  |  |  | 178 |  | 209 |  | $16.38 |  | Big 5 Sporting Goods (U), Jo-Ann, LA Fitness, Office Depot, Sportsman’s Warehouse
296 |  | Shoppers World of Brookfield |  | Milwaukee |  | Brookfield |  |  | WI |  |  | 1967 |  | 2003 |  | 100% |  |  |  | 203 |  | 285 |  | $11.50 |  | Burlington, Pick’n Save (U), Ross Dress for Less, Xperience Fitness
297 |  | Marketplace of Brown Deer |  | Milwaukee |  | Brown Deer |  |  | WI |  |  | 1989 |  | 2003 |  | 100% |  |  |  | 410 |  | 410 |  | $9.16 |  | Bob’s Discount Furniture, Burlington, Michaels, OfficeMax, Pick’n Save, Ross Dress for Less, T.J. Maxx
298 |  | West Allis Center |  | Milwaukee |  | West Allis |  |  | WI |  |  | 1968 |  | 2003 |  | 100% |  |  |  | 264 |  | 392 |  | $6.42 |  | Kohl’s, Marshalls/HomeGoods, Menards (U), Pick’n Save
|  |  |  |  |  | Total |  |  |  |  |  |  |  |  |  |  |  |  |  | 72,686 |  | 100,038 |  |  |  |

DEV - Property developed by the Company

IPO - Original IPO Property

BREDDR III - BRE DDR Retail Holdings III

BREDDR IV - BRE DDR Retail Holdings IV

DDRM - DDRM Properties

SAU - DDR-SAU Retail Fund

TIAA - DDRTC Core Retail Fund

Note: (U) indicates unowned

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