EX-99.1 2 sitc-ex99_1.htm EX-99.1

Exhibit 99.1

SITE QUARTERLY FINANCIAL SUPPLEMENT FOR THE PERIOD ENDED JUNE 30, 2022 RECENT ACQUISITION SHOPS AT TANGLEWOOD HOUSTON, TEXAS SITC LISTED NYSE

SITE CENTERS COMPANY & PORTFOLIO OVERVIEW SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company 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 SITC. PORTFOLIO STATISTICS $5.0B ENTERPRISE VALUE 99 WHOLLY - OWNED PROPERTIES $112K AVERAGE HOUSEHOLD INCOME 94.4% LEASED RATE COMMITTED TO A SUSTAINABLE FUTURE AMERICA’s MOST RESPONSIBLE COMPANIES 2021 Newsweek statista 2021 GREEN LEASE LEADER U.S. GREEN BUILDING COUNCIL LEED USGBC TM CORPORATE HQ RENOVATION GOAL GRESB® Bloomberg Gender-Equality Index 2022 PORTFOLIO COMPOSITION Top 5 MSAs by ABR OTHER 65% ATLANTA 8% MIAMI 8% ORLANDO 7% CHICAGO 6% BOSTON 6% ABR by Region* NORTHEAST 18% SOUTHEAST 45% MIDWEST 17% NORTHWEST 2% CALIFORNIA 8% SOUTHWEST 4% MOUNTAIN 6% Retailer Mix LOCAL 13% NATIONAL 87% NOTE: ALL FIGURES AT COMPANY’S SHARE AND AS OF JUNE 30, 2022. NEW YORK • HONG KONG • ATLANTA • CLEVELAND DENVER • LOS ANGELES • MIAMI • PHOENIX • TAMPA SITC LISTED NYSE SITE

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SITE Centers Corp.

Table of Contents

Section | Page
Earnings Release & Financial Statements |
Press Release | 1-9
Company Summary |
Portfolio Summary | 10
Capital Structure | 11
Same Store Metrics | 12
Leasing Summary | 13
Lease Expirations | 14
Top 50 Tenants | 15
Investments |
Redevelopments | 16
Transactions | 17
Debt Summary |
Debt Summary | 18
Debt Detail | 19
Debt/Adjusted EBITDA | 20
Unconsolidated Joint Ventures |
Unconsolidated Joint Ventures | 21-23
Shopping Center Summary |
Property List | 24-28
Reporting Policies and Other |
Notable Accounting and Supplemental Policies | 29-30
Non-GAAP Measures | 31-33
Leasing Metrics for Wholly-Owned and Unconsolidated Joint Ventures at 100% | 34-38

SITE Centers 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 the supply of, and demand for, retail real estate space in the area; the impact of e-commerce; dependence on rental income from real property; the loss of, significant downsizing of or bankruptcy of a major tenant and the impact of any such event on rental income from other tenants and our properties; 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; impairment charges; our ability to enter into definitive agreements with regard to our financing and joint venture arrangements and the Company’s ability to satisfy conditions to the completion of these arrangements; valuation and risks relating to our joint venture investments; the termination of any joint venture arrangements or arrangements to manage real property; property damage, expenses related thereto and other business and economic consequences (including the potential loss of rental revenues) resulting from extreme weather conditions or natural disasters in locations where we own properties, and the ability to estimate accurately the amounts thereof; sufficiency and timing of any insurance recovery payments related to damages from extreme weather conditions or natural disasters; any change in strategy; our ability to maintain REIT status; and the finalization of the financial statements for the period ended June 30, 2022. 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 most recent reports on Form 10-K and Form 10-Q. The impacts of the COVID-19 pandemic may also exacerbate the risks described therein, any of which could have a material effect on the Company. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

SITE Centers Corp. | For additional information:
3300 Enterprise Parkway | Conor Fennerty, EVP and
Beachwood, OH 44122 216-755-5500 | Chief Financial Officer

FOR IMMEDIATE RELEASE:

SITE Centers Reports Second Quarter 2022 Operating Results

BEACHWOOD, OHIO, July 28, 2022-- SITE Centers Corp. (NYSE: SITC), an owner of open-air shopping centers in suburban, high household income communities, announced today operating results for the quarter ended June 30, 2022.

“SITE Centers had an extremely productive second quarter with the highest quarterly new leasing volume since the first quarter of 2017 and significant capital recycling as we continue to invest in our Convenience thesis,” commented David R. Lukes, President and Chief Executive Officer. “Coupled with recently closed refinancings, our Company remains well positioned given our focused portfolio in the top sub-markets of the country, significant Signed but Not Opened (SNO) pipeline and balance sheet strength.”

Results for the Quarter

•
Second quarter net income attributable to common shareholders was $57.6 million, or $0.27 per diluted share, as compared to net income of $13.8 million, or $0.06 per diluted share, in the year-ago period.
•
Second quarter operating funds from operations attributable to common shareholders (“Operating FFO” or “OFFO”) was $66.5 million, or $0.31 per diluted share, compared to $65.3 million, or $0.31 per diluted share, in the year-ago period. The year-over-year increase was primarily attributable to increased property net operating income driven by base rent growth and the net impact of property investments, partially offset by lower management fees and higher uncollectible revenue due to lower reserve adjustments. Second quarter OFFO results included $1.2 million of net revenue at SITE Centers’ share related to prior periods primarily from cash basis tenants and related reserve adjustments.

Significant Second Quarter and Recent Activity

•
Issued the Company’s eighth Corporate Responsibility and Sustainability Report. The Report was completed in alignment with the Global Reporting Initiative ("GRI") and with the Sustainability Accounting Standards Board ("SASB") metrics and frameworks. The report intends to provide updates on the annual results of the Company’s corporate responsibility and sustainability programs and can be found at https://www.sitecenters.com/2021CSR.
•
Acquired seven shopping centers during the quarter for an aggregate price of $165.2 million, including La Fiesta Square and Lafayette Mercantile (San Francisco, California) for $103.8 million, Fairfax Marketplace, Fairfax Pointe and Boulevard Marketplace (Washington, D.C.) for $34.9 million, Shops at Tanglewood (Houston, Texas) for $22.2 million, and Shoppes of Crabapple (Atlanta, Georgia) for $4.4 million.
•
Sold 14 shopping centers and one parcel at a wholly-owned shopping center during the quarter for an aggregate price of $268.1 million ($94.6 million at share), including the Company’s 20% interest in the SAU Joint Venture, based on a gross asset value of $155.7 million (at 100%) and the Company’s 50% interest in Lennox Town Center based on a gross asset value of $77.0 million (at 100%).
•
Amended and restated its $950 million revolving credit facility with a fully extended maturity date of June 2027. The Company also refinanced its unsecured term loan facility, upsizing the term facility to $200 million from $100 million, with the additional proceeds drawn in the second quarter, and extending its maturity to June 2027.
•
Sold 201,800 common shares under the ATM program at $16.03 per share before issuance costs generating gross proceeds of $3.2 million.
•
In July 2022, acquired Parkwood Shops (Atlanta, GA) for $8.4 million.
•
In July 2022, closed a $360 million refinancing of the DDRM Joint Venture's mortgage debt. The joint venture's existing debt outstanding as of June 30, 2022 was repaid at closing.
•
In July 2022, the DDRM Joint Venture sold 13 shopping centers (DDRM Joint Venture Pool A) for an aggregate sales price of $387.6 million ($77.5 million at share) with the related mortgage debt repaid upon closing. Fee income from these properties totaled $0.7 million in the second quarter of 2022.

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•
In July 2022, the DDRM Joint Venture sold Oviedo Park Crossing (Orlando, Florida) for $28.0 million ($5.6 million at share) with related mortgage debt repaid upon closing.

Key Quarterly Operating Results

•
Reported a decrease of 2.4% in SSNOI on a pro rata basis for the second quarter of 2022, including redevelopment, as compared to the year-ago period. The second quarter of 2021 SSNOI included $6.7 million of net revenue at SITE Centers’ share related to 2020 primarily from cash basis tenants which was a 720 basis point headwind to second quarter 2022 SSNOI growth.
•
Generated new leasing spreads of 20.0% and renewal leasing spreads of 4.2%, both on a pro rata basis, for the trailing twelve-month period ended June 30, 2022 and new leasing spreads of 31.6% and renewal leasing spreads of 4.8%, both on a pro rata basis, for the second quarter of 2022.
•
Reported a leased rate of 94.4% at June 30, 2022 on a pro rata basis, compared to 92.7% on a pro rata basis at December 31, 2021 and 91.8% on a pro rata basis at June 30, 2021. Second quarter transaction activity had a positive 40 basis point impact on the leased rate.
•
As of June 30, 2022, the SNO spread was 340 basis points representing $21.8 million of annualized base rent on a pro rata basis.
•
Annualized base rent per occupied square foot on a pro rata basis was $18.86 at June 30, 2022, compared to $18.39 at June 30, 2021.

Guidance

The Company has updated its 2022 full-year guidance for net income attributable to common shareholders and Operating FFO per share to include the impact of the second quarter operating results. Impairment charges, gains on sale of assets, transaction and debt extinguishment costs are excluded from guidance. The guidance update is as follows:

Reconciliation of Net Income Attributable to Common Shareholders to FFO and Operating FFO estimates:

| FY 2022E (prior) Per Share – Diluted |  | FY 2022E (Revised) Per Share – Diluted
Net income attributable to Common Shareholders | $0.17 – $0.24 |  | $0.36 – $0.41
Depreciation and amortization of real estate | 0.85 – 0.90 |  | 0.89 – 0.94
Equity in net (income) of JVs | (0.01) – 0.00 |  | (0.01) – 0.00
JVs' FFO | 0.05 – 0.07 |  | 0.05 – 0.07
Impairment of real estate (reported actual) | N/A |  | 0.01
Gain on sale and change in control of interests (reported actual) | (0.01) |  | (0.21)
Gain on disposition of real estate (reported actual) | N/A |  | (0.02)
FFO (NAREIT) | $1.10 – $1.15 |  | $1.12 – $1.15
Debt extinguishment, transaction and other (reported actual) | N/A |  | 0.01
Operating FFO | $1.10 – $1.15 |  | $1.13 – $1.16

Other key assumptions for 2022 full-year guidance include:

| FY 2022E (prior) |  | FY 2022E (revised)
Joint Venture fee income | $8.0 – $10.0 million |  | $8.0 – $10.0 million
RVI fee income | $0.5 – $1.0 million |  | $0.5 – $1.0 million
SSNOI (1) | (0.75)% – 0.75% |  | (0.25)% – 1.00%
SSNOI – Adjusted for 2021 Uncollectible Revenue Impact (2) | 3.00% – 4.50% |  | 3.50% – 4.75%

(1)
Including redevelopment and approximately $14 million included in Uncollectible Revenue, primarily related to rent received from cash basis tenants, reported in 2021 related to prior periods, which is an approximately 380 basis point headwind to 2022 SSNOI growth.
(2)
Including redevelopment and excluding revenue impact of approximately $14 million included in Uncollectible Revenue, primarily related to rent received from cash basis tenants, reported in 2021 related to prior periods.

About SITE Centers Corp.

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company 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 SITC. Additional information about the Company is available at www.sitecenters.com. To be included in the Company’s e-mail distributions for press releases and other investor news, please click here.

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Conference Call and Supplemental Information

The Company will hold its quarterly conference call today at 9:30 a.m. Eastern Time. To participate with access to the slide presentation, please visit the Investor Relations portion of SITE's website, ir.sitecenters.com, or for audio only, dial 888-317-6003 (U.S.), 866-284-3684 (Canada) or 412-317-6061 (international) using pass code 8321830 at least ten minutes prior to the scheduled start of the call. The call will also be webcast and available in a listen-only mode on SITE Centers’ website at ir.sitecenters.com. If you are unable to participate during the live call, a replay of the conference call will also be available at ir.sitecenters.com for further review. You may also access the telephone replay by dialing 877-344-7529 (U.S.), 855-669-9658 (Canada) or 412-317-0088 (international) using passcode 7015390 through August 28, 2022. Copies of the Company’s supplemental package and earnings slide presentation are available on the Company’s website.

Non-GAAP Measures

Funds from Operations (“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) (computed in accordance with generally accepted accounting principles in the United States (“GAAP”)), adjusted to exclude (i) preferred share dividends, (ii) gains and losses from disposition of real estate property and related investments, which are presented net of taxes, (iii) impairment charges on real estate property and related investments, (iv) gains and losses from changes in control and (v) 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 NAREIT. The Company calculates Operating FFO as FFO excluding certain non-operating charges, income and gains. Operating FFO is useful to investors as the Company removes non-comparable charges, income 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.

In calculating the expected range for or amount of net (loss) income attributable to common shareholders to estimate projected FFO and Operating FFO for future periods, the Company does not include a projection of gain and losses from the disposition of real estate property, potential impairments and reserves of real estate property and related investments, debt extinguishment costs, certain transaction costs or certain fee income. Other real estate companies may calculate expected 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.

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 (including reimbursements) and expenses, lease termination income, management fee expense, fair market value of leases and expense recovery adjustments. SSNOI includes assets owned in comparable periods (15 months for quarter comparisons). In addition, SSNOI is presented including activity associated with development and major redevelopment. 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 at its effective ownership interest 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 have been provided herein. Reconciliation of the 2022 SSNOI projected growth target to the most directly

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comparable GAAP financial measure is not provided because the Company is unable to provide such reconciliation without unreasonable effort.

Safe Harbor

SITE Centers 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 the supply of, and demand for, retail real estate space in the area; the impact of e-commerce; dependence on rental income from real property; the loss of, significant downsizing of or bankruptcy of a major tenant and the impact of any such event on rental income from other tenants and our properties; 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; impairment charges; our ability to enter into definitive agreements with regard to our financing and joint venture arrangements and the Company’s ability to satisfy conditions to the completion of these arrangements; valuation and risks relating to our joint venture investments; the termination of any joint venture arrangements or arrangements to manage real property; property damage, expenses related thereto and other business and economic consequences (including the potential loss of rental revenues) resulting from extreme weather conditions or natural disasters in locations where we own properties, and the ability to estimate accurately the amounts thereof; sufficiency and timing of any insurance recovery payments related to damages from extreme weather conditions or natural disasters; any change in strategy; our ability to maintain REIT status; and the finalization of the financial statements for the period ended June 30, 2022. 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 most recent reports on Forms 10-K and 10-Q. The impacts of the COVID-19 pandemic may also exacerbate the risks described therein, any of which could have a material effect on the Company. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

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SITE Centers Corp.

Income Statement: Consolidated Interests

| in thousands, except per share |  |  |
|  | 2Q22 |  | 2Q21 |  | 6M22 |  | 6M21
| Revenues: |  |  |  |  |  |  |
| Rental income (1) | $136,203 |  | $126,230 |  | $266,087 |  | $246,120
| Other property revenues | 922 |  | 484 |  | 2,097 |  | 581
|  | 137,125 |  | 126,714 |  | 268,184 |  | 246,701
| Expenses: |  |  |  |  |  |  |
| Operating and maintenance | 22,278 |  | 19,422 |  | 44,214 |  | 39,638
| Real estate taxes | 20,624 |  | 19,535 |  | 40,807 |  | 39,199
|  | 42,902 |  | 38,957 |  | 85,021 |  | 78,837
| Net operating income | 94,223 |  | 87,757 |  | 183,163 |  | 167,864
| Other income (expense): |  |  |  |  |  |  |
| Fee income (2) | 3,557 |  | 8,754 |  | 6,818 |  | 16,906
| Interest expense | (18,909) |  | (19,136) |  | (37,167) |  | (38,531)
| Depreciation and amortization | (51,021) |  | (47,217) |  | (101,385) |  | (92,777)
| General and administrative (3) | (11,353) |  | (12,425) |  | (23,604) |  | (29,820)
| Other expense, net | (1,147) |  | (324) |  | (1,651) |  | (690)
| Impairment charges | (2,536) |  | 0 |  | (2,536) |  | (7,270)
| Income before earnings from JVs and other | 12,814 |  | 17,409 |  | 23,638 |  | 15,682
| Equity in net income of JVs | 1,381 |  | 4,850 |  | 1,550 |  | 9,235
| Gain on sale and change in control of interests | 41,970 |  | 0 |  | 45,326 |  | 13,908
| Gain on disposition of real estate, net | 4,597 |  | 218 |  | 4,455 |  | 198
| Tax expense | (353) |  | (490) |  | (605) |  | (855)
| Net income | 60,409 |  | 21,987 |  | 74,364 |  | 38,168
| Non-controlling interests | (19) |  | (118) |  | (37) |  | (291)
| Net income SITE Centers | 60,390 |  | 21,869 |  | 74,327 |  | 37,877
| Write-off of preferred share original issuance costs | 0 |  | (5,156) |  | 0 |  | (5,156)
| Preferred dividends | (2,789) |  | (2,945) |  | (5,578) |  | (8,078)
| Net income Common Shareholders | $57,601 |  | $13,768 |  | $68,749 |  | $24,643
| Weighted average shares – Basic – EPS | 213,864 |  | 211,035 |  | 212,989 |  | 204,819
| Assumed conversion of diluted securities | 1,047 |  | 846 |  | 1,245 |  | 808
| Weighted average shares – Basic & Diluted – EPS | 214,911 |  | 211,881 |  | 214,234 |  | 205,627
| Earnings per common share – Basic | $0.27 |  | $0.06 |  | $0.32 |  | $0.12
| Earnings per common share – Diluted | $0.27 |  | $0.06 |  | $0.32 |  | $0.12
(1) | Rental income: |  |  |  |  |  |  |
| Minimum rents | $87,936 |  | $78,870 |  | $172,163 |  | $157,106
| Ground lease minimum rents | 6,751 |  | 6,516 |  | 13,458 |  | 12,860
| Straight-line rent, net | 537 |  | 116 |  | 1,533 |  | (231)
| Amortization of (above)/below-market rent, net | 1,061 |  | 870 |  | 2,218 |  | 1,874
| Percentage and overage rent | 1,648 |  | 1,311 |  | 2,785 |  | 2,333
| Recoveries | 33,763 |  | 30,482 |  | 66,597 |  | 61,077
| Uncollectible revenue | 1,162 |  | 5,787 |  | 2,270 |  | 7,185
| Ancillary and other rental income | 1,333 |  | 1,496 |  | 2,797 |  | 2,841
| Lease termination fees | 2,012 |  | 782 |  | 2,266 |  | 1,075
(2) | Fee Income: |  |  |  |  |  |  |
| JV and other fees | 3,025 |  | 3,571 |  | 6,088 |  | 6,971
| RVI fees | 147 |  | 4,591 |  | 345 |  | 9,343
| RVI disposition fees | 385 |  | 592 |  | 385 |  | 592
(3) | Mark-to-market adjustment (PRSUs) | 0 |  | 0 |  | 0 |  | (5,589)

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SITE Centers Corp.

Reconciliation: Net Income to FFO and Operating FFO

and Other Financial Information

| in thousands, except per share |  |  |
|  | 2Q22 |  | 2Q21 |  | 6M22 |  | 6M21
| Net income attributable to Common Shareholders | $57,601 |  | $13,768 |  | $68,749 |  | $24,643
| Depreciation and amortization of real estate | 49,775 |  | 45,807 |  | 98,903 |  | 89,995
| Equity in net income of JVs | (1,381) |  | (4,850) |  | (1,550) |  | (9,235)
| JVs' FFO | 3,883 |  | 5,971 |  | 8,198 |  | 11,406
| Non-controlling interests | 19 |  | 17 |  | 37 |  | 33
| Impairment of real estate | 2,536 |  | 0 |  | 2,536 |  | 7,270
| Gain on sale and change in control of interests | (41,970) |  | 0 |  | (45,326) |  | (13,908)
| Gain on disposition of real estate, net | (4,597) |  | (218) |  | (4,455) |  | (198)
| FFO attributable to Common Shareholders | $65,866 |  | $60,495 |  | $127,092 |  | $110,006
| RVI disposition fees | (385) |  | (592) |  | (385) |  | (592)
| Mark-to-market adjustment (PRSUs) | 0 |  | 0 |  | 0 |  | 5,589
| Debt extinguishment, transaction, net | 971 |  | 165 |  | 1,302 |  | 367
| Joint ventures – debt extinguishment and other, net | 2 |  | 30 |  | 2 |  | 30
| Write-off of preferred share original issuance costs | 0 |  | 5,156 |  | 0 |  | 5,156
| Total non-operating items, net | 588 |  | 4,759 |  | 919 |  | 10,550
| Operating FFO attributable to Common Shareholders | $66,454 |  | $65,254 |  | $128,011 |  | $120,556
| Weighted average shares & units – Basic: FFO & OFFO | 214,005 |  | 211,176 |  | 213,130 |  | 204,959
| Assumed conversion of dilutive securities | 906 |  | 846 |  | 1,104 |  | 808
| Weighted average shares & units – Diluted: FFO & OFFO | 214,911 |  | 212,022 |  | 214,234 |  | 205,767
| FFO per share – Basic | $0.31 |  | $0.29 |  | $0.60 |  | $0.54
| FFO per share – Diluted | $0.31 |  | $0.29 |  | $0.59 |  | $0.53
| Operating FFO per share – Basic | $0.31 |  | $0.31 |  | $0.60 |  | $0.59
| Operating FFO per share – Diluted | $0.31 |  | $0.31 |  | $0.60 |  | $0.59
| Common stock dividends declared, per share | $0.13 |  | $0.12 |  | $0.26 |  | $0.23
| Capital expenditures (SITE Centers share): |  |  |  |  |  |  |
| Redevelopment costs (major and tactical) | 3,694 |  | 3,754 |  | 11,845 |  | 6,555
| Maintenance capital expenditures | 7,731 |  | 4,846 |  | 9,987 |  | 6,296
| Tenant allowances and landlord work | 12,233 |  | 6,607 |  | 21,601 |  | 17,777
| Leasing commissions | 2,610 |  | 1,134 |  | 4,368 |  | 2,568
| Construction administrative costs (capitalized) | 971 |  | 803 |  | 2,145 |  | 1,415
| Certain non-cash items (SITE Centers share): |  |  |  |  |  |  |
| Straight-line rent | 625 |  | 133 |  | 1,705 |  | (168)
| Straight-line fixed CAM | 108 |  | 136 |  | 211 |  | 267
| Amortization of (above)/below-market rent, net | 1,152 |  | 964 |  | 2,396 |  | 2,089
| Straight-line ground rent expense | (32) |  | (35) |  | (66) |  | (72)
| Debt fair value and loan cost amortization | (1,228) |  | (1,277) |  | (2,514) |  | (2,457)
| Capitalized interest expense | 245 |  | 151 |  | 467 |  | 262
| Stock compensation expense | (1,717) |  | (1,807) |  | (3,440) |  | (9,376)
| Non-real estate depreciation expense | (1,248) |  | (1,345) |  | (2,486) |  | (2,652)

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SITE Centers Corp.

Balance Sheet: Consolidated Interests

| $ in thousands |  |  |
|  | At Period End
|  | 2Q22 |  | 4Q21
| Assets: |  |  |
| Land | $1,089,401 |  | $1,011,401
| Buildings | 3,826,799 |  | 3,624,164
| Fixtures and tenant improvements | 573,740 |  | 556,056
|  | 5,489,940 |  | 5,191,621
| Depreciation | (1,644,345) |  | (1,571,569)
|  | 3,845,595 |  | 3,620,052
| Construction in progress and land | 62,830 |  | 47,260
| Real estate, net | 3,908,425 |  | 3,667,312
| Investments in and advances to JVs | 53,025 |  | 64,626
| Cash | 38,533 |  | 41,807
| Restricted cash | 2,647 |  | 1,445
| Receivables and straight-line (1) | 54,825 |  | 61,382
| Intangible assets, net (2) | 122,297 |  | 113,106
| Other assets, net | 23,666 |  | 17,373
| Total Assets | 4,203,418 |  | 3,967,051
| Liabilities and Equity: |  |  |
| Revolving credit facilities | 125,000 |  | 0
| Unsecured debt | 1,452,846 |  | 1,451,768
| Unsecured term loan | 198,354 |  | 99,810
| Secured debt | 90,704 |  | 125,799
|  | 1,866,904 |  | 1,677,377
| Dividends payable | 30,695 |  | 28,243
| Other liabilities (3) | 215,141 |  | 218,779
| Total Liabilities | 2,112,740 |  | 1,924,399
| Preferred shares | 175,000 |  | 175,000
| Common shares | 21,437 |  | 21,129
| Paid-in capital | 5,973,435 |  | 5,934,166
| Distributions in excess of net income | (4,079,844) |  | (4,092,783)
| Deferred compensation | 4,703 |  | 4,695
| Common shares in treasury at cost | (9,847) |  | (5,349)
| Non-controlling interests | 5,794 |  | 5,794
| Total Equity | 2,090,678 |  | 2,042,652
| Total Liabilities and Equity | $4,203,418 |  | $3,967,051
(1) | SL rents (including fixed CAM), net | $33,206 |  | $31,526
(2) | Operating lease right of use assets | 18,187 |  | 19,047
(3) | Operating lease liabilities | 37,697 |  | 38,491
| Below-market leases, net | 63,575 |  | 59,690

7

SITE Centers Corp.

Reconciliation of Net Income Attributable to SITE to Same Store NOI

$ in thousands |  |  |  |  |  |  |
| 2Q22 |  | 2Q21 |  | 2Q22 |  | 2Q21
| SITE Centers at 100% |  | At SITE Centers Share (Non-GAAP)
GAAP Reconciliation: |  |  |  |  |  |  |
Net income attributable to SITE Centers | $60,390 |  | $21,869 |  | $60,390 |  | $21,869
Fee income | (3,557) |  | (8,754) |  | (3,557) |  | (8,754)
Interest expense | 18,909 |  | 19,136 |  | 18,909 |  | 19,136
Depreciation and amortization | 51,021 |  | 47,217 |  | 51,021 |  | 47,217
General and administrative | 11,353 |  | 12,425 |  | 11,353 |  | 12,425
Other expense, net | 1,147 |  | 324 |  | 1,147 |  | 324
Impairment charges | 2,536 |  | 0 |  | 2,536 |  | 0
Equity in net income of joint ventures | (1,381) |  | (4,850) |  | (1,381) |  | (4,850)
Tax expense | 353 |  | 490 |  | 353 |  | 490
Gain on sale and change in control of interests | (41,970) |  | 0 |  | (41,970) |  | 0
Gain on disposition of real estate, net | (4,597) |  | (218) |  | (4,597) |  | (218)
Income from non-controlling interests | 19 |  | 118 |  | 19 |  | 118
Consolidated NOI, net of non-controlling interests | 94,223 |  | 87,757 |  | 94,223 |  | 87,757
Net income from unconsolidated joint ventures | 1,339 |  | 15,146 |  | 589 |  | 3,809
Interest expense | 9,030 |  | 10,971 |  | 2,063 |  | 2,706
Depreciation and amortization | 13,328 |  | 16,587 |  | 2,969 |  | 3,791
Impairment charges | 3,340 |  | 0 |  | 668 |  | 0
Other expense, net | 2,422 |  | 3,010 |  | 585 |  | 744
Gain on disposition of real estate, net | (1,790) |  | (8,186) |  | (357) |  | (1,637)
Unconsolidated NOI | $27,669 |  | $37,528 |  | 6,517 |  | 9,413
Total Consolidated + Unconsolidated NOI |  |  |  |  | 100,740 |  | 97,170
Less: Non-Same Store NOI adjustments |  |  |  |  | (5,628) |  | 321
Total SSNOI including redevelopment |  |  |  |  | 95,112 |  | 97,491
Less: Redevelopment Same Store NOI adjustments |  |  |  |  | (897) |  | (730)
Total SSNOI excluding redevelopment |  |  |  |  | $94,215 |  | $96,761
SSNOI % Change including redevelopment |  |  |  |  | (2.4%) |  |
SSNOI % Change excluding redevelopment |  |  |  |  | (2.6%) |  |

8

SITE Centers Corp.

Reconciliation of Net Income Attr ibutable to SITE to Same Store NOI

$ in thousands |  |  |  |  |  |  |
| 6M22 |  | 6M21 |  | 6M22 |  | 6M21
| SITE Centers at 100% |  | At SITE Centers Share (Non-GAAP)
GAAP Reconciliation: |  |  |  |  |  |  |
Net income attributable to SITE Centers | $74,327 |  | $37,877 |  | $74,327 |  | $37,877
Fee income | (6,818) |  | (16,906) |  | (6,818) |  | (16,906)
Interest expense | 37,167 |  | 38,531 |  | 37,167 |  | 38,531
Depreciation and amortization | 101,385 |  | 92,777 |  | 101,385 |  | 92,777
General and administrative | 23,604 |  | 29,820 |  | 23,604 |  | 29,820
Other expense, net | 1,651 |  | 690 |  | 1,651 |  | 690
Impairment charges | 2,536 |  | 7,270 |  | 2,536 |  | 7,270
Equity in net income of joint ventures | (1,550) |  | (9,235) |  | (1,550) |  | (9,235)
Tax expense | 605 |  | 855 |  | 605 |  | 855
Gain on sale and change in control of interests | (45,326) |  | (13,908) |  | (45,326) |  | (13,908)
Gain on disposition of real estate, net | (4,455) |  | (198) |  | (4,455) |  | (198)
Income from non-controlling interests | 37 |  | 291 |  | 37 |  | 291
Consolidated NOI, net of non-controlling interests | 183,163 |  | 167,864 |  | 183,163 |  | 167,864
Net (loss) income from unconsolidated joint ventures | (39) |  | 48,662 |  | 615 |  | 8,187
Interest expense | 18,319 |  | 21,918 |  | 4,151 |  | 5,407
Depreciation and amortization | 27,673 |  | 33,704 |  | 6,148 |  | 7,675
Impairment charges | 8,540 |  | 0 |  | 1,708 |  | 0
Other expense, net | 4,994 |  | 5,974 |  | 1,182 |  | 1,486
Gain on disposition of real estate, net | (1,692) |  | (36,587) |  | (291) |  | (4,478)
Unconsolidated NOI | $57,795 |  | $73,671 |  | 13,513 |  | 18,277
Total Consolidated + Unconsolidated NOI |  |  |  |  | 196,676 |  | 186,141
Less: Non-Same Store NOI adjustments |  |  |  |  | (9,234) |  | 1,158
Total SSNOI including redevelopment |  |  |  |  | 187,442 |  | 187,299
Less: Redevelopment Same Store NOI adjustments |  |  |  |  | (207) |  | (164)
Total SSNOI excluding redevelopment |  |  |  |  | $187,235 |  | $187,135
SSNOI % Change including redevelopment |  |  |  |  | 0.1% |  |
SSNOI % Change excluding redevelopment |  |  |  |  | 0.1% |  |

9

SITE Centers Corp.

Portfolio Summary

GLA in thousands |  |  |  |  |  |  |  |  |  |  |
` |  |  |  |  | 6/30/2022 |  | 3/31/2022 |  | 12/31/2021 |  | 9/30/2021 |  | 6/30/2021
Shopping Center Count |  |  |  |  |  |  |  |  |  |
Operating Centers - 100% |  | 132 |  | 138 |  | 136 |  | 137 |  | 137
Wholly Owned |  | 99 |  | 92 |  | 89 |  | 81 |  | 80
JV Portfolio |  | 33 |  | 46 |  | 47 |  | 56 |  | 57
Gross Leasable Area (GLA) |  |  |  |  |  |  |  |  |  |
Owned and Ground Lease - Pro Rata Share |  | 24,842 |  | 25,235 |  | 24,905 |  | 24,356 |  | 24,327
Wholly Owned |  | 23,231 |  | 23,235 |  | 22,856 |  | 21,677 |  | 21,605
JV Portfolio - Pro Rata Share |  | 1,611 |  | 2,000 |  | 2,049 |  | 2,679 |  | 2,722
Quarterly Operational Overview |  |  |  |  |  |  |  |  |  |
Pro Rata Share |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  | $18.86 |  | $18.55 |  | $18.33 |  | $18.44 |  | $18.39
Base Rent PSF < 10K |  | $30.11 |  | $29.23 |  | $28.82 |  | $29.20 |  | $29.17
Base Rent PSF > 10K |  | $15.33 |  | $15.29 |  | $15.18 |  | $15.36 |  | $15.35
Commenced Rate |  | 91.0% |  | 90.2% |  | 90.1% |  | 90.2% |  | 89.7%
Commenced Rate < 10K SF |  | 81.5% |  | 81.1% |  | 80.7% |  | 80.0% |  | 79.7%
Commenced Rate > 10K SF |  | 94.3% |  | 93.4% |  | 93.3% |  | 93.6% |  | 93.0%
Leased Rate |  | 94.4% |  | 93.2% |  | 92.7% |  | 92.3% |  | 91.8%
Leased Rate < 10K SF |  | 87.3% |  | 86.0% |  | 85.0% |  | 83.9% |  | 82.9%
Leased Rate > 10K SF |  | 96.9% |  | 95.7% |  | 95.3% |  | 95.1% |  | 94.6%
Operational Statistics |  |  |  |  |  |  |  |  |  |
% of Aggregate Property NOI - Wholly Owned |  | 94.1% |  | 92.8% |  | 92.2% |  | 89.8% |  | 89.3%
% of Aggregate Property NOI - Joint Venture – Pro Rata Share |  | 5.9% |  | 7.2% |  | 7.8% |  | 10.2% |  | 10.7%
Quarterly SITE SSNOI at share including redevelopment |  | -2.4% |  | 2.9% |  | 14.9% |  | 21.6% |  | 29.9%
Quarterly SITE SSNOI at share excluding redevelopment |  | -2.6% |  | 2.8% |  | 13.2% |  | 20.5% |  | 28.7%
TTM New Leasing - at pro rata share (GLA in 000's) |  | 1,236 |  | 972 |  | 900 |  | 853 |  | 776
TTM Renewals - at pro rata share (GLA in 000's) |  | 2,697 |  | 2,657 |  | 2,555 |  | 2,675 |  | 2,555
TTM Total Leasing - at pro rata share (GLA in 000's) |  | 3,933 |  | 3,629 |  | 3,455 |  | 3,528 |  | 3,331
TTM Blended New and Renewal Rent Spreads - at pro rata share |  | 6.4% |  | 5.6% |  | 3.7% |  | 1.6% |  | 1.7%
Top 20 MSA Exposure |  |  |  |  |  |  |  |  |  |  |
|  | MSA | Properties |  | GLA |  | % of GLA |  | ABR |  | % of ABR |  | ABR PSF
1 |  | Atlanta-Sandy Springs-Roswell, GA | 13 |  | 2,266 |  | 9.1% |  | $30,867 |  | 7.7% |  | $15.03
2 |  | Miami-Fort Lauderdale-West Palm Beach, FL | 11 |  | 1,646 |  | 6.6% |  | 30,472 |  | 7.6% |  | $23.41
3 |  | Orlando-Kissimmee-Sanford, FL | 6 |  | 1,509 |  | 6.1% |  | 26,220 |  | 6.5% |  | $18.93
4 |  | Chicago-Naperville-Elgin, IL-IN-WI | 6 |  | 1,066 |  | 4.3% |  | 23,916 |  | 6.0% |  | $26.20
5 |  | Boston-Cambridge-Newton, MA-NH | 2 |  | 1,423 |  | 5.7% |  | 22,955 |  | 5.7% |  | $26.00
6 |  | Denver-Aurora-Lakewood, CO | 4 |  | 1,361 |  | 5.5% |  | 22,264 |  | 5.6% |  | $17.46
7 |  | Charlotte-Concord-Gastonia, NC-SC | 4 |  | 1,383 |  | 5.6% |  | 21,786 |  | 5.4% |  | $16.68
8 |  | Trenton, NJ | 2 |  | 1,301 |  | 5.2% |  | 21,318 |  | 5.3% |  | $18.09
9 |  | Columbus, OH | 4 |  | 1,119 |  | 4.5% |  | 17,204 |  | 4.3% |  | $15.86
10 |  | Phoenix-Mesa-Scottsdale, AZ | 5 |  | 1,004 |  | 4.0% |  | 15,885 |  | 4.0% |  | $19.64
11 |  | Los Angeles-Long Beach-Anaheim, CA | 3 |  | 882 |  | 3.6% |  | 15,290 |  | 3.8% |  | $23.55
12 |  | San Antonio-New Braunfels, TX | 3 |  | 1,048 |  | 4.2% |  | 13,679 |  | 3.4% |  | $17.66
13 |  | Tampa-St. Petersburg-Clearwater, FL | 7 |  | 877 |  | 3.5% |  | 13,291 |  | 3.3% |  | $17.57
14 |  | New York-Newark-Jersey City, NY-NJ-PA | 7 |  | 777 |  | 3.1% |  | 11,706 |  | 2.9% |  | $18.11
15 |  | Washington-Arlington-Alexandria, DC-VA-MD-WV | 5 |  | 479 |  | 1.9% |  | 11,186 |  | 2.8% |  | $23.63
16 |  | San Francisco-Oakland-Hayward, CA | 5 |  | 304 |  | 1.2% |  | 10,118 |  | 2.5% |  | $40.39
17 |  | Richmond, VA | 3 |  | 591 |  | 2.4% |  | 9,637 |  | 2.4% |  | $20.39
18 |  | Cincinnati, OH-KY-IN | 2 |  | 589 |  | 2.4% |  | 9,443 |  | 2.4% |  | $18.04
19 |  | Cleveland-Elyria, OH | 2 |  | 553 |  | 2.2% |  | 7,573 |  | 1.9% |  | $14.77
20 |  | Portland-Vancouver-Hillsboro, OR-WA | 2 |  | 382 |  | 1.5% |  | 7,520 |  | 1.9% |  | $24.35
|  | Other | 36 |  | 4,282 |  | 17.2% |  | 58,634 |  | 14.6% |  | $15.89
|  | Total | 132 |  | 24,842 |  | 100.0% |  | $400,964 |  | 100.0% |  | $18.86
$ and GLA in thousands; Top 20 figures all at SITC share except for properties. |  |  |  |  |

10

SITE Centers Corp.

Capital S tructure

$, shares and units in thousands, except per share |  |  |  |  |  |
|  | June 30, 2022 |  | December 31, 2021 |  | December 31, 2020
Capital Structure |  |  |  |  |  |
Market Value Per Share |  | $13.47 |  | $15.83 |  | $10.12
Common Shares Outstanding |  | 214,038 |  | 211,235 |  | 193,363
Operating Partnership Units |  | 141 |  | 141 |  | 141
Total Outstanding Common Shares |  | 214,179 |  | 211,376 |  | 193,504
Common Shares Equity |  | $2,884,991 |  | $3,346,079 |  | $1,958,258
Perpetual Preferred Stock - Class K (1) |  | 0 |  | 0 |  | 150,000
Perpetual Preferred Stock - Class A |  | 175,000 |  | 175,000 |  | 175,000
Total Perpetual Preferred Stock |  | $175,000 |  | $175,000 |  | $325,000
Unsecured Credit Facilities |  | 125,000 |  | 0 |  | 135,000
Unsecured Term Loan |  | 200,000 |  | 100,000 |  | 100,000
Unsecured Notes Payable |  | 1,457,314 |  | 1,456,886 |  | 1,456,031
Mortgage Debt (includes JVs at SITE share) |  | 248,779 |  | 315,898 |  | 473,576
Total Debt (includes JVs at SITE share) |  | 2,031,093 |  | 1,872,784 |  | 2,164,607
Less: Cash (including restricted cash) |  | 50,163 |  | 43,252 |  | 74,414
Net Debt |  | $1,980,930 |  | $1,829,532 |  | $2,090,193
Total Market Capitalization |  | $5,040,921 |  | $5,350,611 |  | $4,373,451
Leverage / Public Debt Covenants |  |  |  |  |  |
Average Consolidated Net Effective Debt |  | 1,783,084 |  | 1,749,295 |  | 1,842,052
Consolidated Adjusted EBITDA - TTM |  | 354,362 |  | 351,172 |  | 300,012
Average Consolidated Net Debt / Adjusted EBITDA (2) |  | 5.0X |  | 5.0X |  | 6.1X
Average Pro-Rata Net Effective Debt |  | 1,965,195 |  | 1,952,145 |  | 2,089,915
Pro-Rata Adjusted EBITDA - TTM |  | 363,862 |  | 361,917 |  | 312,708
Average Pro-Rata Net Debt / Adjusted EBITDA (2) |  | 5.4X |  | 5.4X |  | 6.7X
Outstanding Debt & Obligations |  | 1,891,237 |  | 1,717,917 |  | 1,953,194
Undepreciated Real Estate Assets |  | 5,605,794 |  | 5,303,507 |  | 5,256,719
Total Debt to Real Estate Assets Ratio (3) |  | 34% |  | 32% |  | 37%
Covenant |  | 65% |  | 65% |  | 65%
Secured Debt & Obligations |  | 90,248 |  | 125,382 |  | 248,917
Total Assets |  | 5,839,155 |  | 5,534,473 |  | 5,529,204
Secured Debt to Assets Ratio |  | 2% |  | 2% |  | 5%
Covenant |  | 40% |  | 40% |  | 40%
Unencumbered Real Estate Assets |  | 5,400,970 |  | 5,028,788 |  | 4,624,168
Unsecured Debt & Obligations |  | 1,800,990 |  | 1,592,535 |  | 1,704,277
Unencumbered Assets to Unsecured Debt (3) |  | 300% |  | 316% |  | 271%
Covenant |  | 135% |  | 135% |  | 135%
Net Income Available for Debt Service |  | 339,251 |  | 329,408 |  | 264,148
Maximum Annual Service Charge |  | 78,430 |  | 80,073 |  | 80,913
Fixed Charge Coverage Ratio |  | 4.3X |  | 4.1X |  | 3.3X
Covenant |  | 1.5X |  | 1.5X |  | 1.5X
Net Income Available for Debt Service Excluding Other Expenses |  | 339,251 |  | 329,408 |  | 280,716
Fixed Charge Coverage Ratio Excluding Other Expenses |  | 4.3X |  | 4.1X |  | 3.5X
Credit Ratings (Outlook) |  |  |  |  |  |
Moody's |  | Baa3 (Stable) |  | Baa3 (Stable) |  | Baa3 (Stable)
S&P |  | BBB- (Stable) |  | BBB- (Stable) |  | BBB- (Stable)
Fitch |  | BBB (Stable) |  | BBB (Stable) |  | BBB (Stable)
(1) Redeemed on April 7, 2021. |  |  |  |
(2) Excludes Perpetual Preferred Stock. See definition in the Non-GAAP Measures section. |  |  |  |
(3) Real Estate Assets and Unencumbered Assets exclude consolidated cash and cash equivalents. |  |  |  |

11

SITE Centers Corp.

Same Store Metrics (1)

$ in thousands |  |  |  |  |  |  |
| Same Store at 100% |  | Same Store at SITE Share
SITE at share | 2Q22 | 2Q21 | Change |  | 2Q22 |  | 2Q21 | Change
Leased rate | 94.3% | 91.3% | 3.0% |  | 94.4% |  | 91.4% | 3.0%
Commenced rate | 91.0% | 89.4% | 1.6% |  | 91.0% |  | 89.5% | 1.5%
Revenues: |  |  |  |  |  |  |  |
Minimum rents | $115,845 | $112,604 |  |  | $95,939 |  | $93,168 |
Recoveries | 40,813 | 39,607 |  |  | 34,511 |  | 33,490 |
Uncollectible revenue(2) | 1,245 | 10,014 |  |  | 1,143 |  | 6,796 |
Percentage and overage rent | 1,787 | 1,512 |  |  | 1,678 |  | 1,386 |
Ancillary and other rental income | 1,998 | 2,275 |  |  | 1,621 |  | 1,828 |
| 161,688 | 166,012 | (2.6%) |  | 134,892 |  | 136,668 | (1.3%)
Expenses: |  |  |  |  |  |  |  |
Operating and maintenance | (23,000) | (22,045) |  |  | (18,939) |  | (18,156) |
Real estate taxes | (24,279) | (24,542) |  |  | (20,841) |  | (21,021) |
| (47,279) | (46,587) | 1.5% |  | (39,780) |  | (39,177) | 1.5%
Total SSNOI-Including Redevelopment | $114,409 | $119,425 | (4.2%) |  | $95,112 |  | $97,491 | (2.4%)
Non-Same Store NOI | 7,483 | 5,860 |  |  | 5,628 |  | (321) |
Total Consolidated + Unconsolidated NOI | $121,892 | $125,285 |  |  | $100,740 |  | $97,170 |
SSNOI Operating Margin | 70.8% | 71.9% |  |  | 70.5% |  | 71.3% |
SSNOI Recovery Rate | 86.3% | 85.0% |  |  | 86.8% |  | 85.5% |
(1) See calculation definition in the Non-GAAP Measures section.
(2) Results include the impact of net revenue at SITE's share related to prior periods of $1.2M and $6.7M for the second quarters of 2022 and 2021, respectively, primarily related to cash basis tenants and related reserve adjustments. |

| Same Store at 100% |  | Same Store at SITE Share
YTD SITE at share | 6M22 | 6M21 | Change |  | 6M22 |  | 6M21 | Change
Leased rate | 94.3% | 91.3% | 3.0% |  | 94.4% |  | 91.4% | 3.0%
Commenced rate | 91.0% | 89.4% | 1.6% |  | 91.0% |  | 89.5% | 1.5%
Revenues: |  |  |  |  |  |  |  |
Minimum rents | $230,334 | $224,619 |  |  | $190,672 |  | $185,700 |
Recoveries | 80,997 | 78,856 |  |  | 68,428 |  | 66,538 |
Uncollectible revenue(2) | 2,570 | 12,684 |  |  | 2,255 |  | 8,296 |
Percentage and overage rents | 3,399 | 2,863 |  |  | 2,926 |  | 2,598 |
Ancillary and other rental income | 4,146 | 4,457 |  |  | 3,304 |  | 3,484 |
| 321,446 | 323,479 | (0.6%) |  | 267,585 |  | 266,616 | 0.4%
Expenses: |  |  |  |  |  |  |  |
Operating and maintenance | (46,471) | (44,995) |  |  | (38,254) |  | (37,079) |
Real estate taxes | (48,797) | (49,387) |  |  | (41,889) |  | (42,238) |
| (95,268) | (94,382) | 0.9% |  | (80,143) |  | (79,317) | 1.0%
Total SSNOI-Including Redevelopment | $226,178 | $229,097 | (1.3%) |  | $187,442 |  | $187,299 | 0.1%
Non-Same Store NOI | 14,780 | 12,438 |  |  | 9,234 |  | (1,158) |
Total Consolidated + Unconsolidated NOI | $240,958 | $241,535 |  |  | $196,676 |  | $186,141 |
SSNOI Operating Margin | 70.4% | 70.8% |  |  | 70.0% |  | 70.3% |
SSNOI Recovery Rate | 85.0% | 83.5% |  |  | 85.4% |  | 83.9% |
(1) See calculation definition in the Non-GAAP Measures section.
(2) Results include the impact of net revenue at SITE's share related to prior periods of $2.5M and $11.7M for the six months of 2022 and 2021, respectively, primarily related to cash basis tenants and related reserve adjustments. |

12

SITE Centers Corp.

Leasing Summary

At pro rata share except for count |  |  |  |  |
Leasing Activity |  |  |  |  |  |  |  |  |  |  |
| Comparable Pool |  | Total Pool
| Count | GLA | New Rent PSF | Prior Rent PSF | Rent Spread | Wtd Avg Term (Years) |  | Count | GLA | New Rent PSF | Wtd Avg Term (Years)
New Leases |  |  |  |  |  |  |  |  |  |  |
2Q22 | 20 | 126,087 | $20.90 | $15.88 | 31.6% | 13.5 |  | 61 | 431,252 | $17.97 | 10.7
1Q22 | 24 | 121,319 | $17.93 | $15.54 | 15.4% | 8.6 |  | 71 | 291,641 | $22.16 | 9.8
4Q21 | 26 | 98,721 | $25.01 | $21.80 | 14.7% | 8.4 |  | 64 | 275,789 | $21.43 | 9.2
3Q21 | 25 | 96,921 | $18.97 | $16.06 | 18.1% | 8.8 |  | 57 | 237,270 | $20.27 | 8.7
| 95 | 443,048 | $20.58 | $17.15 | 20.0% | 10.0 |  | 253 | 1,235,952 | $20.17 | 9.7
Renewals |  |  |  |  |  |  |  |  |  |  |
2Q22 | 117 | 746,182 | $19.21 | $18.33 | 4.8% | 5.3 |  | 117 | 746,182 | $19.21 | 5.3
1Q22 | 109 | 591,948 | $17.55 | $16.62 | 5.6% | 4.8 |  | 109 | 591,948 | $17.55 | 4.8
4Q21 | 89 | 595,154 | $18.89 | $18.16 | 4.0% | 5.3 |  | 89 | 595,154 | $18.89 | 5.3
3Q21 | 100 | 763,907 | $17.45 | $17.00 | 2.6% | 5.4 |  | 100 | 763,907 | $17.45 | 5.4
| 415 | 2,697,191 | $18.28 | $17.54 | 4.2% | 5.2 |  | 415 | 2,697,191 | $18.28 | 5.2
New + Renewals |  |  |  |  |  |  |  |  |  |  |
2Q22 | 137 | 872,269 | $19.45 | $17.98 | 8.2% | 6.6 |  | 178 | 1,177,434 | $18.75 | 7.2
1Q22 | 133 | 713,267 | $17.62 | $16.43 | 7.2% | 5.5 |  | 180 | 883,589 | $19.07 | 6.7
4Q21 | 115 | 693,875 | $19.76 | $18.68 | 5.8% | 5.9 |  | 153 | 870,943 | $19.69 | 6.7
3Q21 | 125 | 860,828 | $17.62 | $16.89 | 4.3% | 5.8 |  | 157 | 1,001,177 | $18.12 | 6.3
| 510 | 3,140,239 | $18.60 | $17.48 | 6.4% | 6.0 |  | 668 | 3,933,143 | $18.87 | 6.7

Net Effective Rents |  |  |  |  |  |  |  |  |
|  | Avg | Capex PSF | NER | Wtd Avg | % of GLA
| GLA | Rent PSF | TA | LL Work | LC | Total | PSF | Term (Years) | >10K SF | <10K SF
New Leases (1) |  |  |  |  |  |  |  |  |  |
2Q22 | 426,471 | $18.87 | $3.64 | $2.48 | $0.80 | $6.92 | $11.95 | 10.7 | 63% | 37%
1Q22 | 280,469 | $22.52 | $2.81 | $3.59 | $1.07 | $7.47 | $15.05 | 9.8 | 56% | 44%
4Q21 | 275,789 | $22.58 | $2.62 | $4.25 | $1.07 | $7.94 | $14.64 | 9.2 | 53% | 47%
3Q21 | 232,547 | $20.59 | $4.38 | $4.38 | $0.84 | $9.60 | $10.99 | 8.8 | 57% | 43%
| 1,215,276 | $20.88 | $3.38 | $3.45 | $0.93 | $7.76 | $13.12 | 9.7 | 58% | 42%
Renewals |  |  |  |  |  |  |  |  |  |
2Q22 | 746,182 | $19.50 | $0.16 | $0.00 | $0.02 | $0.18 | $19.32 | 5.3 | 77% | 23%
1Q22 | 591,948 | $17.87 | $0.05 | $0.01 | $0.00 | $0.06 | $17.81 | 4.8 | 70% | 30%
4Q21 | 595,154 | $19.21 | $0.08 | $0.00 | $0.00 | $0.08 | $19.13 | 5.3 | 79% | 21%
3Q21 | 763,907 | $17.65 | $0.30 | $0.00 | $0.04 | $0.34 | $17.31 | 5.4 | 85% | 15%
| 2,697,191 | $18.55 | $0.16 | $0.00 | $0.02 | $0.18 | $18.37 | 5.2 | 78% | 22%
New + Renewals |  |  |  |  |  |  |  |  |
2Q22 | 1,172,653 | $19.27 | $2.05 | $1.35 | $0.44 | $3.84 | $15.43 | 7.2 | 72% | 28%
1Q22 | 872,417 | $19.36 | $1.36 | $1.71 | $0.51 | $3.58 | $15.78 | 6.6 | 65% | 35%
4Q21 | 870,943 | $20.27 | $1.19 | $1.86 | $0.47 | $3.52 | $16.75 | 6.7 | 71% | 29%
3Q21 | 996,454 | $18.33 | $1.63 | $1.44 | $0.30 | $3.37 | $14.96 | 6.2 | 78% | 22%
| 3,912,467 | $19.28 | $1.61 | $1.56 | $0.43 | $3.60 | $15.68 | 6.7 | 72% | 28%
(1) New Leases exclude redevelopment activity. |  |

13

SITE Centers Corp.

Lease Expirations

At pro rata 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 | % of SF > 10K | ABR | % of ABR > 10K |  | Rent PSF |  | # of Leases |  | Expiring SF | % of SF < 10K | ABR | % of ABR < 10K |  | Rent PSF |  | # of Leases |  | Expiring SF | % of SF Total | ABR | % of ABR Total |  | Rent PSF
MTM | 2 |  | 61 | 0.4% | $890 | 0.4% |  | $14.59 |  | 28 |  | 60 | 1.1% | $1,636 | 1.0% |  | $27.27 |  | 30 |  | 121 | 0.5% | $2,526 | 0.6% |  | $20.88
2022 | 4 |  | 41 | 0.2% | 823 | 0.3% |  | $20.07 |  | 100 |  | 242 | 4.5% | 6,555 | 4.1% |  | $27.09 |  | 104 |  | 283 | 1.3% | 7,378 | 1.8% |  | $26.07
2023 | 88 |  | 2,178 | 12.6% | 30,141 | 12.5% |  | $13.84 |  | 302 |  | 702 | 13.2% | 20,599 | 13.0% |  | $29.34 |  | 390 |  | 2,880 | 12.7% | 50,740 | 12.7% |  | $17.62
2024 | 106 |  | 2,673 | 15.5% | 35,943 | 14.9% |  | $13.45 |  | 366 |  | 780 | 14.6% | 22,954 | 14.4% |  | $29.43 |  | 472 |  | 3,453 | 15.3% | 58,897 | 14.7% |  | $17.06
2025 | 95 |  | 2,450 | 14.2% | 35,125 | 14.5% |  | $14.34 |  | 316 |  | 773 | 14.5% | 21,628 | 13.6% |  | $27.98 |  | 411 |  | 3,223 | 14.3% | 56,753 | 14.2% |  | $17.61
2026 | 87 |  | 2,007 | 11.6% | 25,875 | 10.7% |  | $12.89 |  | 288 |  | 610 | 11.4% | 18,585 | 11.7% |  | $30.47 |  | 375 |  | 2,617 | 11.6% | 44,460 | 11.1% |  | $16.99
2027 | 96 |  | 2,709 | 15.7% | 38,896 | 16.1% |  | $14.36 |  | 264 |  | 660 | 12.4% | 18,878 | 11.9% |  | $28.60 |  | 360 |  | 3,369 | 14.9% | 57,774 | 14.4% |  | $17.15
2028 | 54 |  | 1,205 | 7.0% | 16,306 | 6.7% |  | $13.53 |  | 127 |  | 329 | 6.2% | 11,347 | 7.1% |  | $34.49 |  | 181 |  | 1,534 | 6.8% | 27,653 | 6.9% |  | $18.03
2029 | 30 |  | 798 | 4.6% | 12,353 | 5.1% |  | $15.48 |  | 102 |  | 299 | 5.6% | 9,842 | 6.2% |  | $32.92 |  | 132 |  | 1,097 | 4.9% | 22,195 | 5.5% |  | $20.23
2030 | 32 |  | 803 | 4.7% | 11,060 | 4.6% |  | $13.77 |  | 102 |  | 262 | 4.9% | 8,464 | 5.3% |  | $32.31 |  | 134 |  | 1,065 | 4.7% | 19,524 | 4.9% |  | $18.33
2031 | 27 |  | 901 | 5.2% | 9,745 | 4.0% |  | $10.82 |  | 80 |  | 226 | 4.2% | 6,654 | 4.2% |  | $29.44 |  | 107 |  | 1,127 | 5.0% | 16,399 | 4.1% |  | $14.55
Thereafter | 54 |  | 1,431 | 8.3% | 24,865 | 10.3% |  | $17.38 |  | 133 |  | 389 | 7.3% | 11,800 | 7.4% |  | $30.33 |  | 187 |  | 1,820 | 8.1% | 36,665 | 9.1% |  | $20.15
Total | 675 |  | 17,257 | 100.0% | $242,022 | 100.0% |  | $14.02 |  | 2,208 |  | 5,332 | 100.0% | $158,942 | 100.0% |  | $29.81 |  | 2,883 |  | 22,589 | 100.0% | $400,964 | 100.0% |  | $17.75
Signed Not Open | 29 |  | 637 |  | $9,134 |  |  | $14.34 |  | 147 |  | 410 |  | $12,646 |  |  | $30.84 |  | 176 |  | 1,047 |  | $21,780 |  |  | $20.80
Vacant | 30 |  | 559 |  |  |  |  |  |  | 340 |  | 829 |  |  |  |  |  |  | 370 |  | 1,388 |  |  |  |  |
Assumes all lease options are exercised |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Greater than 10K SF |  | Less than 10K SF |  | Total
Year | # of Leases |  | Expiring SF | % of SF > 10K | ABR | % of ABR > 10K |  | Rent PSF |  | # of Leases |  | Expiring SF | % of SF < 10K | ABR | % of ABR < 10K |  | Rent PSF |  | # of Leases |  | Expiring SF | % of SF Total | ABR | % of ABR Total |  | Rent PSF
MTM | 1 |  | 20 | 0.1% | $119 | 0.0% |  | $5.95 |  | 26 |  | 57 | 1.1% | $1,538 | 1.0% |  | $26.98 |  | 27 |  | 77 | 0.3% | $1,657 | 0.4% |  | $21.52
2022 | 1 |  | 7 | 0.0% | 59 | 0.0% |  | $8.43 |  | 67 |  | 152 | 2.9% | 3,895 | 2.5% |  | $25.63 |  | 68 |  | 159 | 0.7% | 3,954 | 1.0% |  | $24.87
2023 | 15 |  | 202 | 1.2% | 4,610 | 1.9% |  | $22.82 |  | 195 |  | 367 | 6.9% | 10,915 | 6.9% |  | $29.74 |  | 210 |  | 569 | 2.5% | 15,525 | 3.9% |  | $27.28
2024 | 15 |  | 247 | 1.4% | 3,861 | 1.6% |  | $15.63 |  | 220 |  | 405 | 7.6% | 12,594 | 7.9% |  | $31.10 |  | 235 |  | 652 | 2.9% | 16,455 | 4.1% |  | $25.24
2025 | 18 |  | 315 | 1.8% | 4,328 | 1.8% |  | $13.74 |  | 191 |  | 375 | 7.0% | 10,590 | 6.7% |  | $28.24 |  | 209 |  | 690 | 3.1% | 14,918 | 3.7% |  | $21.62
2026 | 7 |  | 90 | 0.5% | 1,108 | 0.5% |  | $12.31 |  | 141 |  | 233 | 4.4% | 7,179 | 4.5% |  | $30.81 |  | 148 |  | 323 | 1.4% | 8,287 | 2.1% |  | $25.66
2027 | 19 |  | 334 | 1.9% | 5,735 | 2.4% |  | $17.17 |  | 147 |  | 278 | 5.2% | 8,396 | 5.3% |  | $30.20 |  | 166 |  | 612 | 2.7% | 14,131 | 3.5% |  | $23.09
2028 | 21 |  | 314 | 1.8% | 5,393 | 2.2% |  | $17.18 |  | 119 |  | 284 | 5.3% | 8,884 | 5.6% |  | $31.28 |  | 140 |  | 598 | 2.6% | 14,277 | 3.6% |  | $23.87
2029 | 20 |  | 399 | 2.3% | 5,416 | 2.2% |  | $13.57 |  | 118 |  | 256 | 4.8% | 7,393 | 4.7% |  | $28.88 |  | 138 |  | 655 | 2.9% | 12,809 | 3.2% |  | $19.56
2030 | 21 |  | 452 | 2.6% | 6,984 | 2.9% |  | $15.45 |  | 104 |  | 247 | 4.6% | 6,915 | 4.4% |  | $28.00 |  | 125 |  | 699 | 3.1% | 13,899 | 3.5% |  | $19.88
2031 | 23 |  | 344 | 2.0% | 6,281 | 2.6% |  | $18.26 |  | 114 |  | 226 | 4.2% | 6,553 | 4.1% |  | $29.00 |  | 137 |  | 570 | 2.5% | 12,834 | 3.2% |  | $22.52
Thereafter | 514 |  | 14,533 | 84.2% | 198,128 | 81.9% |  | $13.63 |  | 766 |  | 2,452 | 46.0% | 74,090 | 46.6% |  | $30.22 |  | 1,280 |  | 16,985 | 75.2% | 272,218 | 67.9% |  | $16.03
Total | 675 |  | 17,257 | 100.0% | $242,022 | 100.0% |  | $14.02 |  | 2,208 |  | 5,332 | 100.0% | $158,942 | 100.0% |  | $29.81 |  | 2,883 |  | 22,589 | 100.0% | $400,964 | 100.0% |  | $17.75
Note: Includes ground leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

14

SITE Centers Corp.

Top 50 Tenants

$ and GLA in thousands |  |  |  |  |  |  |
|  |  | Number of Units | Base Rent | Owned GLA | Credit Ratings
|  | Tenant | WO | JV | Total | Pro Rata | % of Total | At 100% | Pro Rata | % of Total | At 100% | (S&P/Moody's/Fitch)
1 |  | TJX Companies (1) | 52 | 13 | 65 | $23,120 | 5.8% | $26,075 | 1,642 | 6.6% | 1,912 | A/A2/NR
2 |  | Dick's Sporting Goods (2) | 16 | 4 | 20 | 10,960 | 2.7% | 12,665 | 725 | 2.9% | 871 | BBB/Baa3/NR
3 |  | PetSmart | 25 | 5 | 30 | 10,098 | 2.5% | 11,294 | 582 | 2.3% | 661 | B/B1/NR
4 |  | Michaels | 23 | 8 | 31 | 8,752 | 2.2% | 10,555 | 578 | 2.3% | 733 | B/B1/NR
5 |  | Ross Stores (3) | 20 | 13 | 33 | 8,365 | 2.1% | 11,394 | 649 | 2.6% | 953 | BBB+/A2/NR
6 |  | Bed Bath & Beyond (4) | 18 | 3 | 21 | 8,195 | 2.0% | 9,742 | 642 | 2.6% | 742 | B-/NR/NR
7 |  | Gap (5) | 22 | 8 | 30 | 7,240 | 1.8% | 8,751 | 373 | 1.5% | 470 | BB/Ba2/NR
8 |  | Nordstrom Rack | 10 | 0 | 10 | 7,108 | 1.8% | 7,108 | 362 | 1.5% | 362 | BB+/Ba1/BBB-
9 |  | Ulta | 26 | 7 | 33 | 7,041 | 1.8% | 8,317 | 284 | 1.1% | 345 | NR
10 |  | Best Buy | 9 | 3 | 12 | 6,783 | 1.7% | 8,347 | 437 | 1.8% | 550 | BBB+/A3/NR
11 |  | Kohl's | 7 | 7 | 14 | 6,736 | 1.7% | 10,789 | 748 | 3.0% | 1,221 | BBB-/Baa2/BBB-
12 |  | Burlington | 10 | 4 | 14 | 6,435 | 1.6% | 7,922 | 417 | 1.7% | 544 | BB+/NR/NR
13 |  | Kroger (6) | 7 | 1 | 8 | 6,242 | 1.6% | 6,764 | 425 | 1.7% | 461 | BBB/Baa1/NR
14 |  | AMC Theatres | 2 | 3 | 5 | 6,086 | 1.5% | 10,084 | 215 | 0.9% | 400 | CCC+/Caa2/NR
15 |  | Five Below | 29 | 10 | 39 | 5,739 | 1.4% | 6,948 | 273 | 1.1% | 343 | NR
16 |  | Publix | 8 | 3 | 11 | 4,549 | 1.1% | 5,479 | 424 | 1.7% | 544 | NR
17 |  | Designer Brands Inc. (DSW) | 12 | 1 | 13 | 4,466 | 1.1% | 4,751 | 265 | 1.1% | 281 | NR
18 |  | Barnes & Noble | 8 | 1 | 9 | 4,354 | 1.1% | 4,674 | 195 | 0.8% | 211 | NR
19 |  | Whole Foods | 3 | 0 | 3 | 4,228 | 1.1% | 4,228 | 139 | 0.6% | 139 | AA/A1/AA-
20 |  | Total Wine & More | 7 | 0 | 7 | 4,210 | 1.0% | 4,210 | 190 | 0.8% | 190 | NR
21 |  | Party City | 14 | 5 | 19 | 3,853 | 1.0% | 4,779 | 184 | 0.7% | 237 | B-/B3/B-
22 |  | Home Depot | 5 | 0 | 5 | 3,809 | 0.9% | 3,809 | 600 | 2.4% | 600 | A/A2/A
23 |  | Jo-Ann | 9 | 4 | 13 | 3,621 | 0.9% | 4,383 | 300 | 1.2% | 381 | B/B2/NR
24 |  | Petco | 12 | 4 | 16 | 3,551 | 0.9% | 4,464 | 169 | 0.7% | 216 | B+/B1/NR
25 |  | Dollar Tree Stores | 23 | 7 | 30 | 3,131 | 0.8% | 3,720 | 275 | 1.1% | 330 | BBB/Baa2/NR
26 |  | Cinemark | 2 | 2 | 4 | 3,111 | 0.8% | 4,231 | 200 | 0.8% | 266 | B/NR/B+
27 |  | Office Depot (7) | 10 | 2 | 12 | 3,050 | 0.8% | 3,525 | 212 | 0.9% | 250 | NR
28 |  | Cineworld (Regal Cinemas) | 3 | 0 | 3 | 2,940 | 0.7% | 2,940 | 138 | 0.6% | 138 | CCC/NR/NR
29 |  | CGV Cinemas | 1 | 0 | 1 | 2,849 | 0.7% | 2,849 | 74 | 0.3% | 74 | NR
30 |  | Staples | 9 | 1 | 10 | 2,841 | 0.7% | 3,068 | 173 | 0.7% | 189 | B/B3/NR
31 |  | Ahold Delhaize (8) | 2 | 4 | 6 | 2,679 | 0.7% | 4,419 | 169 | 0.7% | 326 | BBB/Baa1/NR
32 |  | Cost Plus | 8 | 1 | 9 | 2,565 | 0.6% | 2,799 | 152 | 0.6% | 166 | NR
33 |  | Macy's (9) | 5 | 0 | 5 | 2,473 | 0.6% | 2,473 | 186 | 0.7% | 186 | BB/Ba1/BBB-
34 |  | LA Fitness | 3 | 1 | 4 | 2,379 | 0.6% | 2,966 | 144 | 0.6% | 175 | BB-/B1/NR
35 |  | AT&T | 21 | 8 | 29 | 2,334 | 0.6% | 2,796 | 66 | 0.3% | 84 | BBB/Baa2/BBB+
36 |  | Giant Eagle | 2 | 0 | 2 | 2,295 | 0.6% | 2,295 | 183 | 0.7% | 183 | NR
37 |  | JPMorgan Chase | 12 | 2 | 14 | 2,247 | 0.6% | 2,349 | 52 | 0.2% | 57 | A-/A2/AA-
38 |  | Mattress Firm | 13 | 6 | 19 | 2,015 | 0.5% | 2,625 | 65 | 0.3% | 89 | NR
39 |  | Lowe's Home Improvement | 2 | 2 | 4 | 1,918 | 0.5% | 3,608 | 322 | 1.3% | 531 | BBB+/Baa1/NR
40 |  | Hobby Lobby | 4 | 0 | 4 | 1,838 | 0.5% | 1,838 | 222 | 0.9% | 222 | NR
41 |  | Caleres Inc. | 10 | 2 | 12 | 1,758 | 0.4% | 2,088 | 88 | 0.4% | 104 | B+/NR/NR
42 |  | Panera Bread | 11 | 2 | 13 | 1,750 | 0.4% | 1,925 | 56 | 0.2% | 63 | NR
43 |  | Starbucks | 17 | 4 | 21 | 1,737 | 0.4% | 2,071 | 32 | 0.1% | 38 | BBB+/Baa1/BBB
44 |  | T-Mobile (10) | 19 | 6 | 25 | 1,692 | 0.4% | 1,945 | 46 | 0.2% | 55 | BB+/NR/BBB-
45 |  | America's Best Contacts | 16 | 4 | 20 | 1,663 | 0.4% | 1,943 | 60 | 0.2% | 71 | NR
46 |  | Darden (11) | 8 | 3 | 11 | 1,636 | 0.4% | 2,043 | 63 | 0.3% | 83 | BBB/Baa2/BBB
47 |  | Visionworks | 12 | 3 | 15 | 1,632 | 0.4% | 1,961 | 46 | 0.2% | 55 | NR
48 |  | Tailored Brands (12) | 9 | 2 | 11 | 1,582 | 0.4% | 1,757 | 74 | 0.3% | 81 | NR
49 |  | Albertsons Companies (13) | 2 | 0 | 2 | 1,564 | 0.4% | 1,564 | 116 | 0.5% | 116 | BB/Ba2/NR
50 |  | Target | 3 | 0 | 3 | 1,561 | 0.4% | 1,561 | 435 | 1.8% | 435 | A/A2/A
|  | Top 50 Total | 581 | 169 | 750 | $222,781 | 55.6% | $264,891 | 14,467 | 58.2% | 17,734 |
|  | Total Portfolio |  |  |  | $400,964 | 100.0% | $480,715 | 24,842 | 100.0% | 30,755 |
(1) T.J. Maxx (18) / Marshalls (22) / HomeGoods (15) / Sierra Trading (6) / HomeSense (3) / Combo Store (1) | (8) Stop & Shop (3) / Food Lion (2) / Martin's (1)
(2) Dick's Sporting Goods (15) / Golf Galaxy (5) |  | (9) Macy's Furniture Gallery (3) / Bloomingdale's the Outlet Store (1)/ Bluemercury (1)
(3) Ross Dress for Less (31) / dd's Discounts (2) |  | (10) T-Mobile (23) / Metro PCS (2)
(4) Bed Bath (12), buybuy Baby (6), Combo Store (1), andThat!/Cost Plus (1) and Cost Plus (1) subleases | (11) Longhorn Steakhouse (6) / Olive Garden (5)
(5) Gap (3) / Old Navy (26) / Banana Republic (1) |  | (12) Men's Wearhouse (9) / Jos. A. Bank (1) / K&G Fashion Superstore (1)
(6) Kroger (3) / Harris Teeter (2) / King Soopers (1) / Mariano's (1) / Lucky's (1) |  | (13) Safeway (1) / ACME (1)
(7) Office Depot (5) / OfficeMax (7) |  |

15

SITE Centers Corp.

Redevelo pments

$ in thousands |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Redevelopment – Major (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shopping Center | MSA | SITE Own % |  | Est. Yield (%) |  | Est. Net Costs |  | Costs to Date |  | Est. Remain. Costs |  | Placed In Service |  | CIP |  | Initial Occ. |  | Est. Stabilize |  | Key Tenants
West Bay Plaza - Phase II | Cleveland, OH | 100% |  |  |  | $9,102 |  | $6,360 |  | $2,742 |  | $6,360 |  | $0 |  | 2Q22 |  | 4Q23 |  | Sierra Trading Post, Dry Bar
Perimeter Pointe | Atlanta, GA | 100% |  |  |  | 0 |  | 1,314 |  | 0 |  | 0 |  | 1,314 |  | TBD |  | TBD |  | -
Total Redevelopment - Major |  | 8% |  | $9,102 |  | $7,674 |  | $2,742 |  | $6,360 |  | $1,314 |  |  |  |  |  |
Redevelopment – Tactical (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shopping Center | MSA | SITE Own % |  | Est. Yield (%) |  | Est. Net Costs |  | Costs to Date |  | Est. Remain. Costs |  | Placed In Service |  | CIP |  | Initial Occ. |  | Est. Stabilize |  | Key Tenants
Tanasbourne Town Center | Portland, OR | 100% |  |  |  | $11,540 |  | $1,593 |  | $9,947 |  | $0 |  | $1,593 |  | 4Q23 |  | 4Q24 |  | -
Nassau Park Pavilion | Trenton, NJ | 100% |  |  |  | 7,635 |  | 1,666 |  | 5,969 |  | 0 |  | 1,666 |  | 2Q23 |  | 3Q23 |  | Paris Baguette, Bluestone Lane, Just Salad, Mezeh Grill
University Hills | Denver, CO | 100% |  |  |  | 5,972 |  | 2,231 |  | 3,741 |  | 0 |  | 2,231 |  | 4Q22 |  | 4Q23 |  | Wendy's
Shoppers World | Boston, MA | 100% |  |  |  | 4,967 |  | 1,299 |  | 3,668 |  | 0 |  | 1,299 |  | 4Q22 |  | 4Q23 |  | Sleep Number, Cava
Hamilton Marketplace | Trenton, NJ | 100% |  |  |  | 3,843 |  | 3,407 |  | 436 |  | 3,405 |  | 2 |  | 1Q22 |  | 1Q23 |  | Mission BBQ, Mezeh Grill, Honeygrow
Carolina Pavilion | Charlotte, NC | 100% |  |  |  | 2,339 |  | 1,034 |  | 1,305 |  | 0 |  | 1,034 |  | 4Q22 |  | 4Q23 |  | Visionworks, Smoothie King
Other Tactical Projects | N/A | 100% |  |  |  | 9,226 |  | 6,990 |  | 2,236 |  | 5,000 |  | 1,990 |  |  |  |  |  |
Total Redevelopment - Tactical |  |  | 11% |  | $45,522 |  | $18,220 |  | $27,302 |  | $8,405 |  | $9,815 |  |  |  |  |  |
Other (3) |  |  |  |  | 0 |  | 46,438 |  | 0 |  | 0 |  | 46,438 |  |  |  |  |  |
Undeveloped land (4) |  |  |  |  | 0 |  | 5,263 |  | 0 |  | 0 |  | 5,263 |  |  |  |  |  |
Total Redevelopment Costs |  |  |  |  | $54,624 |  | $77,595 |  | $30,044 |  | $14,765 |  | $62,830 | (5) |  |  |  |  |
(1) Included in SSNOI including redevelopment; includes large-scale shopping center expansion and repurposing projects.
(2) Includes outparcels, first generation space and small-scale shopping center expansions and other capital improvements.
(3) Includes predevelopment and retenanting expenditures.
(4) Balance is in addition to owned land adjacent to existing centers with an estimated value of $9 million and cost basis of the headquarters (non-income producing portion) of $32 million.
(5) Balance is in addition to SITE's pro rata share of joint venture CIP of $0.2 million.

16

SITE Centers Corp.

Transa ctions

$ and GLA in thousands |  |  |  |  |  |  |  |  |  |
Acquisitions |  | SITE |  | Owned |  | At 100% |  | At SITE Share
|  | Property Name | MSA | Own % |  | GLA |  | Price | Debt |  | Price | Debt
01/28/22 |  | Artesia Village | Phoenix-Mesa-Scottsdale, AZ | 100% |  | 21 |  | $14,500 | $0 |  | $14,500 | $0
02/15/22 |  | Casselberry Commons | Orlando-Kissimmee-Sanford, FL | 100% |  | 249 |  | 44,500 | 0 |  | 35,600 | 0
03/28/22 |  | Shops at Boca Center | Miami-Fort Lauderdale-West Palm Beach, FL | 100% |  | 117 |  | 90,000 | 0 |  | 90,000 | 0
|  |  | 1Q 2022 Total |  |  | 270 |  | $149,000 | $0 |  | $140,100 | $0
04/01/22 |  | Shoppes of Crabapple | Atlanta-Sandy Springs-Roswell, GA | 100% |  | 8 |  | $4,350 | $0 |  | $4,350 | $0
05/02/22 |  | La Fiesta Square | San Francisco-Oakland-Hayward, CA | 100% |  | 53 |  | 60,798 | 0 |  | 60,798 | 0
05/02/22 |  | Lafayette Mercantile | San Francisco-Oakland-Hayward, CA | 100% |  | 22 |  | 43,000 | 0 |  | 43,000 | 0
06/03/22 |  | Shops at Tanglewood | Houston, TX | 100% |  | 26 |  | 22,150 | 0 |  | 22,150 | 0
06/10/22 |  | Fairfax Marketplace | Washington-Arlington-Alexandria, DC-VA-MD-WV | 100% |  | 19 |  | 16,038 | 0 |  | 16,038 | 0
06/10/22 |  | Boulevard Marketplace | Washington-Arlington-Alexandria, DC-VA-MD-WV | 100% |  | 19 |  | 10,448 | 0 |  | 10,448 | 0
06/10/22 |  | Fairfax Pointe | Washington-Arlington-Alexandria, DC-VA-MD-WV | 100% |  | 10 |  | 8,394 | 0 |  | 8,394 | 0
|  |  | 2Q 2022 Total |  |  | 157 |  | $165,178 | $0 |  | $165,178 | $0
07/08/22 |  | Parkwood Shops | Atlanta-Sandy Springs-Roswell, GA | 100% |  | 20 |  | $8,400 | 0 |  | $8,400 | 0
|  |  | 3Q 2022 QTD |  |  | 20 |  | $8,400 | $0 |  | $8,400 | $0
|  |  | Total 2022 YTD |  |  | 447 |  | $322,578 | $0 |  | $313,678 | $0
Dispositions |  | SITE |  | Owned |  | At 100% |  | At SITE Share
|  | Property Name | MSA | Own % |  | GLA |  | Price | Debt |  | Price | Debt
|  | Non-operating land sales |  | 100% |  | 0 |  | $120 | 0 |  | $120 | 0
|  |  | 1Q 2022 Total |  |  | 0 |  | $120 | $0 |  | $120 | $0
04/14/22 |  | DDR-SAU Retail Fund JV portfolio | Various | 20% |  | 906 |  | $155,700 | $54,884 |  | $31,140 | $10,977
05/25/22 |  | Paradise Shoppes of Ellenwood | Atlanta-Sandy Springs-Roswell, GA | 100% |  | 60 |  | 10,200 | 0 |  | 10,200 | 0
05/26/22 |  | Woodfield Village Green - Unit 1325 | Chicago-Naperville-Elgrin, IL-IN-WI | 100% |  | 98 |  | 12,200 | 0 |  | 12,200 | 0
06/29/22 |  | Chickasaw Trail Shopping Center | Orlando-Kissimmee-Sanford, FL | 20% |  | 75 |  | 12,950 | 8,625 |  | 2,590 | 1,725
06/30/22 |  | Lennox Town Center | Columbus, OH | 50% |  | 374 |  | 77,008 | 37,796 |  | 38,504 | 18,898
|  |  | 2Q 2022 Total |  |  | 1,513 |  | $268,058 | $101,305 |  | $94,634 | $31,600
07/14/22 |  | Oviedo Park Crossings | Orlando-Kissimmee-Sanford, FL | 20% |  | 186 |  | $28,000 | $13,350 |  | $5,600 | $2,670
07/15/22 |  | DDRM Joint Venture Pool A | Various | 20% |  | 2,297 |  | 387,600 | 225,000 |  | 77,520 | 45,000
|  |  | 3Q 2022 QTD |  |  | 2,483 |  | $415,600 | $238,350 |  | $83,120 | $47,670
|  |  | Total 2022 YTD |  |  | 3,996 |  | $683,778 | $339,655 |  | $177,874 | $79,270

17

SITE Centers Corp.

Debt Su mmary

$ in thousands |  |  |  |  |  |  |  |
| Consolidated Debt | Unconsolidated Debt | Total Debt
Debt Composition | 100% | SITE Share | Interest Rate | 100% | SITE Share | Interest Rate | SITE Share | Interest Rate
Unsecured Credit Facilities | $125,000 | $125,000 | 2.22% | $0 | $0 | - | $125,000 | 2.22%
Unsecured Term Loan | 200,000 | 200,000 | 2.32% | 0 | 0 | - | 200,000 | 2.32%
Unsecured Public Debt | 1,457,314 | 1,457,314 | 4.27% | 0 | 0 | - | 1,457,314 | 4.27%
Fixed Rate Mortgage Loans | 90,248 | 90,248 | 4.28% | 583,050 | 116,610 | 4.68% | 206,858 | 4.51%
Variable Rate Mortgage Loans | 0 | 0 | 0.00% | 191,338 | 41,921 | 3.55% | 41,921 | 3.55%
Subtotal | $1,872,562 | $1,872,562 | 3.93% | $774,388 | $158,531 | 4.39% | $2,031,093 | 3.96%
Fair Market Value Adjustment | 963 | 963 | - | 0 | 0 | - | 963 | -
Unamortized Loan Costs, Net | (6,621) | (6,621) | - | (1,692) | (372) | - | (6,993) | -
Total | $1,866,904 | $1,866,904 | 3.93% | $772,696 | $158,159 | 4.39% | $2,025,063 | 3.96%

| Consolidated Maturities |  | Unconsolidated | Total |  | Total |
Maturity Schedule(1) | Secured | Unsecured |  | Maturities | 100% |  | SITE Share | Interest Rate
2022(2) | $898 | $0 |  | $346,967 | $347,865 |  | $70,317 | 3.99%
2023 | 36,438 | 87,209 |  | 946 | 124,593 |  | 123,891 | 3.84%
2024 | 27,808 | 65,614 |  | 365,306 | 458,728 |  | 166,540 | 4.49%
2025 | 25,104 | 457,142 |  | 1,046 | 483,292 |  | 482,515 | 3.80%
2026 | 0 | 400,000 |  | 60,123 | 460,123 |  | 415,481 | 4.38%
2027 | 0 | 775,000 |  | 0 | 775,000 |  | 775,000 | 3.74%
2028 | 0 | 0 |  | 0 | 0 |  | 0 | -
2029 | 0 | 0 |  | 0 | 0 |  | 0 | -
2030 | 0 | 0 |  | 0 | 0 |  | 0 | -
2031 and beyond | 0 | 0 |  | 0 | 0 |  | 0 | -
Unsecured debt discount | 0 | (2,651) |  | 0 | (2,651) |  | (2,651) | -
Total | $90,248 | $1,782,314 |  | $774,388 | $2,646,950 |  | $2,031,093 | 3.96%
% of Total (3) | Consolidated | Interest Rate |  | Unconsolidated | Interest Rate |  | Total | Interest Rate
Fixed | 82.6% | 4.27% |  | 73.6% | 4.68% |  | 81.9% | 4.30%
Variable | 17.4% | 2.28% |  | 26.4% | 3.55% |  | 18.1% | 2.43%
(1) Includes Consolidated & Unconsolidated Debt and assumes borrower extension options are exercised. |
(2) Unconsolidated maturities refinanced and/or repaid in July 2022. Pro forma for these financings, the Company has no remaining 2022 maturities. |
(3) At SITE's share. |
Note: Interest rate is GAAP at SITE Share. |

18

SITE Centers Corp.

Debt Detail

$ in thousands |  |  |  |
| Balance 100% | Balance SITE Share | Maturity Date (1) | GAAP Interest Rate
Bank Debt (2) |  |  |  |
Unsecured Term Loan ($200m) | $200,000 | $200,000 | 06/27 | SOFR + 105
Unsecured Revolver ($950m) | 125,000 | 125,000 | 06/27 | SOFR + 95
| $325,000 | $325,000 |  |
Unsecured Debt (2) |  |  |  |
Unsecured Notes - 2023 | 87,163 | 87,163 | 05/23 | 3.52%
Unsecured Notes - 2024 | 65,555 | 65,555 | 08/24 | 4.07%
Unsecured Notes - 2025 | 456,268 | 456,268 | 02/25 | 3.79%
Unsecured Notes - 2026 | 398,733 | 398,733 | 02/26 | 4.43%
Unsecured Notes - 2027 | 449,595 | 449,595 | 06/27 | 4.80%
| $1,457,314 | $1,457,314 |  |
Mortgage Debt (2) |  |  |  |
July 2022 Loan Pool A (13 assets)(3) | 218,730 | 43,746 | 07/22 | 4.21%
July 2022 Loan Pool B (9 assets) (4) | 127,786 | 25,557 | 07/22 | 3.76%
Midtowne Park, SC | 15,736 | 15,736 | 01/23 | 5.04%
Millenia Crossing, FL | 19,731 | 19,731 | 01/23 | 4.32%
Concourse Village, FL | 12,566 | 12,566 | 02/24 | 4.32%
April 2024 Loan Pool (10 assets) | 364,320 | 72,864 | 04/24 | 4.97%
Larkin's Corner, PA | 15,786 | 15,786 | 06/24 | 4.09%
RVIP IIIB, Deer Park, IL (SITE 26%) (5) | 63,552 | 16,364 | 12/26 | 3.23%
Shoppes at Addison Place (North), FL | 8,965 | 8,965 | 02/25 | 4.08%
Shoppes at Addison Place (South), FL | 7,018 | 7,018 | 02/25 | 4.11%
Shoppes at Addison Place (Outlot), FL | 1,346 | 1,346 | 02/25 | 4.08%
Southtown Center, FL | 9,100 | 9,100 | 05/25 | 3.51%
| $864,636 | $248,779 |  |
Consolidated & Unconsolidated Debt Subtotal | $2,646,950 | $2,031,093 |  |
FMV Adjustment – Assumed Debt | 963 | 963 |  |
Unamortized Loan Costs, Net | (8,313) | (6,993) |  |
Total Consolidated & Unconsolidated Debt | $2,639,600 | $2,025,063 |  |
Rate Type |  |  |  |
Fixed | $2,130,612 | $1,664,172 | 3.2 years | 4.30%
Variable | 516,338 | 366,921 | 4.6 years | 2.43%
| $2,646,950 | $2,031,093 | 3.5 years | 3.96%
Perpetual Preferred Stock |  |  |  |
Class A | 175,000 | 175,000 | N/A (6) | 6.38%
(1) Assumes borrower extension options are exercised.
(2) Excludes loan fees and unamortized loan costs.
(3) Refinanced July 2022 with new $225M loan and repaid in July 2022 with sale of Pool A.
(4) Refinanced July 2022 with new $135M loan (SOFR + 3.75%). 3.00% SOFR Interest Rate Cap through July 2023.
(5) 1.00% SOFR Interest Rate Cap through December 2024.
(6) Redeemable at par as of June 2022.

19

SITE Centers Corp.

Debt/Adjust ed EBITDA

$ in thousands |  |
| Twelve months ended June 30, 2022 | Twelve months ended June 30, 2021
Consolidated |  |
Consolidated net income to SITE | $161,385 | $43,878
Interest expense | 75,018 | 75,738
Income taxes, net | 1,301 | 1,412
Depreciation and amortization | 194,375 | 179,580
Adjustments for non-controlling interests | (302) | (728)
EBITDA | 431,777 | 299,880
Impairment charges | 2,536 | 12,470
Adjustment of preferred equity interests | 0 | (3,542)
Gain on sale and change in control of interests | (50,603) | (13,819)
Gain on disposition of real estate, net | (10,321) | (492)
EBITDAre | 373,389 | 294,497
Separation charges | 0 | 1,650
Equity in net income of JVs | (39,613) | (10,093)
Other expense, net | 1,983 | 7,553
JV OFFO (at SITE Share) | 18,603 | 20,966
Adjusted EBITDA (1) | 354,362 | 314,573
Consolidated debt-average | 1,832,663 | 1,842,636
Partner share of consolidated debt-average | (4,593) | (9,273)
Loan costs, net-average | 6,835 | 7,400
Face value adjustments-average | (1,174) | (1,008)
Cash and restricted cash-average | (50,647) | (94,138)
Average net effective debt | $1,783,084 | $1,745,617
Debt/Adjusted EBITDA – Consolidated (2) | 5.0x | 5.5x
Pro rata including JVs |  |
EBITDAre | 352,271 | 305,339
Adjusted EBITDA | 363,862 | 326,108
Consolidated net debt-average | 1,783,084 | 1,745,617
JV debt (at SITE Share)-average | 192,636 | 241,087
JV cash and restricted cash (at SITE Share)-average | (10,525) | (11,355)
Average net effective debt | $1,965,195 | $1,975,349
Debt/Adjusted EBITDA – Pro Rata (2) | 5.4x | 6.1x
(1) See definition in the Non-GAAP Measures section.
(2) Excludes perpetual preferred stock.

20

SITE Centers Corp.

Unconsolid ated Joint Ventures

$ and GLA in thousands |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Joint Venture |  | SITE Own % |  | Number of Properties |  | Owned GLA |  | Leased Rate |  | ABR |  | 2Q22 NOI at 100% (1) |  | Gross RE Assets |  | Debt Balance at 100% (2)
Madison International DDRM (3) |  | 20% |  | 22 |  | 3,771 |  | 93.8% |  | $14.34 |  | $10,743 |  | $697,172 |  | $346,516
Chinese Institutional Investors DTP |  | 20% |  | 10 |  | 3,397 |  | 95.1% |  | $14.71 |  | 11,776 |  | 583,235 |  | 364,320
Prudential RVIP IIIB, Deer Park, IL |  | 50% |  | 1 |  | 356 |  | 76.2% |  | $37.07 |  | 2,081 |  | 102,901 |  | 63,552
Total |  |  |  | 33 |  | 7,524 |  | 93.6% |  | $15.25 |  | $24,600 |  | $1,383,308 |  | $774,388
Property management fees |  |  |  |  |  |  |  |  |  |  |  | 1,289 | (1) |  |  |
NOI from assets sold |  |  |  |  |  |  |  |  |  |  |  | 1,780 | (1) |  |  |
Net operating income |  |  |  |  |  |  |  |  |  |  |  | $27,669 | (4) |  |  |
(1) Property management fees charged by SITE to the joint venture are included as an expense in NOI, although presented in the combined income statement on the next page in the Other Expense line item.
(2) Excludes unamortized loan costs, net of $1.7 million or $0.4 million at SITE's share.
(3) In July 2022, the DDRM Joint Venture sold Pool A (13 properties) and Oviedo Park Crossing.
(4) 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.

21

SITE Centers Corp.

Unconsolidated Joint Ventures

Combined SITE JV Pro Rata Adjustments (1)
Income Statement Pro Rata Adjustments 2Q22 |  | Balance Sheet Pro Rata Adjustments 2Q22
Revenues: |  |  | Assets: |
Rental Income (2) | $8,819 |  | Land | $65,450
Other income (3) | 169 |  | Buildings | 193,036
| 8,988 |  | Improvements | 23,865
Expenses: |  |  |  | 282,351
Operating and maintenance | 1,332 |  | Depreciation | (78,445)
Real estate taxes | 1,139 |  |  | 203,906
| 2,471 |  | Construction in progress and land | 227
Net Operating Income | 6,517 |  | Real estate, net | 204,133
|  |  | Investment in JVs | (1,557)
Other Income (expense): |  |  | Cash and restricted cash | 8,983
Fee income | (521) |  | Receivables, net | 3,306
Impairment charges | (668) |  | Other assets, net | 10,144
Interest expense | (2,063) |  | Total Assets | $225,009
Depreciation and amortization | (2,969) |  |  |
Other income (expense), net | (64) |  | Liabilities and Equity: |
Income before earnings from JVs | 232 |  | Mortgage debt | $158,159
Equity in net income of JVs | (1,381) |  | Notes payable to SITE | 698
Basis differences of JVs | 792 |  | Other liabilities | 9,626
Gain on disposition of real estate | 357 |  | Total Liabilities | 168,483
Net income | $0 |  | JVs share of equity | (1,557)
|  |  | Distributions in excess of net income | 58,083
FFO Reconciliation 2Q22 |  | Total Equity | 56,526
Income before earnings from JVs | $232 |  | Total Liabilities and Equity | $225,009
Depreciation and amortization | 2,969 |  |  |
Impairment of real estate | 668 |  |  |
Basis differences of JVs | 14 |  |  |
FFO at SITE's Ownership Interests | $3,883 |  |  |
OFFO at SITE's Ownership Interests | $3,885 |  |  |
(1) Information provided for SITE's share of JV investments and can be combined with SITE's consolidated financial statements for the same period.
(2) Rental Income: |  |  |  |
Minimum rents | $6,104 |  |  |
Ground lease minimum rents | 367 |  |  |
Straight-line rent, net | 88 |  |  |
Amortization of (above) below market rent, net | 91 |  |  |
Percentage and overage rent | 72 |  |  |
Recoveries | 2,093 |  |  |
Uncollectible revenue | 4 |  |  |
(3) Other Income: |  |  |  |
Ancillary and other rental income | 134 |  |  |
Lease termination fees | 35 |  |  |

22

SITE Centers Corp.

Unconsolidated Joint Ventures at 100%

$ in thousands |  |  |  |  |  |  |  |
Combined Income Statement
|  | 2Q22 |  | 2Q21 |  | 6M22 |  | 6M21
Revenues: |  |  |  |  |  |  |  |
Rental income (1) |  | $37,443 |  | $50,527 |  | $78,383 |  | $99,806
Other income (2) |  | 719 |  | 870 |  | 1,428 |  | 2,151
|  | 38,162 |  | 51,397 |  | 79,811 |  | 101,957
Expenses: |  |  |  |  |  |  |  |
Operating and maintenance |  | 5,755 |  | 7,425 |  | 12,024 |  | 15,194
Real estate taxes |  | 4,738 |  | 6,444 |  | 9,992 |  | 13,092
|  | 10,493 |  | 13,869 |  | 22,016 |  | 28,286
Net operating income |  | 27,669 |  | 37,528 |  | 57,795 |  | 73,671
Other income (expense): |  |  |  |  |  |  |  |
Interest expense |  | (9,030) |  | (10,971) |  | (18,319) |  | (21,918)
Depreciation and amortization |  | (13,328) |  | (16,587) |  | (27,673) |  | (33,704)
Impairment charges |  | (3,340) |  | 0 |  | (8,540) |  | 0
Other expense, net |  | (2,422) |  | (3,010) |  | (4,994) |  | (5,974)
|  | (451) |  | 6,960 |  | (1,731) |  | 12,075
Gain on disposition of real estate, net |  | 1,790 |  | 8,186 |  | 1,692 |  | 36,587
Net income (loss) attributable to unconsolidated JVs |  | 1,339 |  | 15,146 |  | (39) |  | 48,662
Depreciation and amortization |  | 13,328 |  | 16,587 |  | 27,673 |  | 33,704
Impairment of real estate |  | 3,340 |  | 0 |  | 8,540 |  | 0
Gain on disposition of real estate, net |  | (1,790) |  | (8,186) |  | (1,692) |  | (36,587)
FFO |  | $16,217 |  | $23,547 |  | $34,482 |  | $45,779
FFO at SITE's ownership interests |  | $3,883 |  | $5,971 |  | $8,198 |  | $11,406
Operating FFO at SITE's ownership interests |  | $3,885 |  | $6,001 |  | $8,200 |  | $11,436
(1) Rental Income: |  |  |  |  |  |  |  |
Minimum rents |  | $26,145 |  | $32,849 |  | $54,623 |  | $66,137
Ground lease minimum rents |  | 1,258 |  | 1,542 |  | 2,659 |  | 3,123
Straight-line rent, net |  | 282 |  | 55 |  | 692 |  | 295
Amortization of (above) below market rent, net |  | 456 |  | 471 |  | 887 |  | 1,077
Percentage and overage rent |  | 202 |  | 205 |  | 720 |  | 587
Recoveries |  | 8,993 |  | 11,012 |  | 18,407 |  | 22,602
Uncollectible revenue |  | 107 |  | 4,393 |  | 395 |  | 5,985
(2) Other Income: |  |  |  |  |  |  |  |
Ancillary and other rental income |  | 545 |  | 811 |  | 1,254 |  | 1,757
Lease termination fees |  | 174 |  | 59 |  | 174 |  | 394
Combined Balance Sheet
|  |  |  | At Period End
|  |  |  |  |  | 2Q22 |  | 4Q21
Assets: |  |  |  |  |  |  |  |
Land |  |  |  |  |  | $324,205 |  | $378,442
Buildings |  |  |  |  |  | 942,906 |  | 1,092,245
Improvements |  |  |  |  |  | 115,060 |  | 123,313
|  |  |  |  |  | 1,382,171 |  | 1,594,000
Depreciation |  |  |  |  |  | (374,938) |  | (441,215)
|  |  |  |  |  | 1,007,233 |  | 1,152,785
Construction in progress and land |  |  |  |  |  | 1,137 |  | 5,778
Real estate, net |  |  |  |  |  | 1,008,370 |  | 1,158,563
Cash and restricted cash |  |  |  |  |  | 37,342 |  | 37,535
Receivables, net |  |  |  |  |  | 16,099 |  | 16,854
Other assets, net |  |  |  |  |  | 49,471 |  | 49,029
Total Assets |  |  |  |  |  | 1,111,282 |  | 1,261,981
Liabilities and Equity: |  |  |  |  |  |  |  |
Mortgage debt |  |  |  |  |  | 772,696 |  | 873,336
Notes and accrued interest payable to SITE |  |  |  |  |  | 3,370 |  | 3,331
Other liabilities |  |  |  |  |  | 47,382 |  | 51,473
Total Liabilities |  |  |  |  |  | 823,448 |  | 928,140
Accumulated equity |  |  |  |  |  | 287,834 |  | 333,841
Total Equity |  |  |  |  |  | 287,834 |  | 333,841
Total Liabilities and Equity |  |  |  |  |  | $1,111,282 |  | $1,261,981

23

SITE Centers Corp.

Property List - Excludes DDRM Pool A

Note: GLA in thousands. Anchors include tenants greater than 20K SF.

# | Center | MSA | Location | ST | SITE Own % | JV | Owned GLA | ABR PSF | Anchor Tenants
1 | Ahwatukee Foothills Towne Center | Phoenix-Mesa-Scottsdale, AZ | Phoenix | AZ | 20% | DTP | 691 | $17.95 | AMC Theatres, Best Buy, Big Lots, Burlington, HomeGoods, Jo-Ann, Lina Home Furnishing, Marshalls, Michaels, OfficeMax, Ross Dress for Less, Sprouts Farmers Market
2 | Arrowhead Crossing | Phoenix-Mesa-Scottsdale, AZ | Phoenix | AZ | 100% |  | 353 | $15.91 | Burlington, DSW, Golf Galaxy, Hobby Lobby, HomeGoods, Nordstrom Rack, Staples, T.J. Maxx
3 | Deer Valley Towne Center | Phoenix-Mesa-Scottsdale, AZ | Phoenix | AZ | 100% |  | 197 | $20.91 | Michaels, PetSmart, Ross Dress for Less
4 | Paradise Village Gateway | Phoenix-Mesa-Scottsdale, AZ | Phoenix | AZ | 100% |  | 295 | $25.36 | PetSmart, Ross Dress for Less
5 | Artesia Village | Phoenix-Mesa-Scottsdale, AZ | Scottsdale | AZ | 100% |  | 21 | $39.06 | —
6 | Buena Park Place | Los Angeles-Long Beach-Anaheim, CA | Buena Park | CA | 100% |  | 213 | $17.54 | Aldi, Kohl's, Michaels
7 | Falcon Ridge Town Center | Los Angeles-Long Beach-Anaheim, CA | Fontana | CA | 100% |  | 277 | $23.44 | 24 Hour Fitness, Michaels, Ross Dress for Less, Stater Bros Markets
8 | The Pike Outlets | Los Angeles-Long Beach-Anaheim, CA | Long Beach | CA | 100% |  | 392 | $22.94 | Cinemark, H & M, Nike, Restoration Hardware
9 | Creekside Plaza | Sacramento-Roseville-Arden-Arcade, CA | Roseville | CA | 100% |  | 32 | $40.11 | —
10 | Ridge at Creekside | Sacramento-Roseville-Arden-Arcade, CA | Roseville | CA | 100% |  | 243 | $20.33 | Bed Bath & Beyond, buybuy BABY, Cost Plus World Market, Macy's Furniture Gallery, REI
11 | La Fiesta Square | San Francisco-Oakland-Hayward, CA | Lafayette | CA | 100% |  | 53 | $51.10 | —
12 | Lafayette Mercantile | San Francisco-Oakland-Hayward, CA | Lafayette | CA | 100% |  | 22 | $57.54 | —
13 | Whole Foods at Bay Place | San Francisco-Oakland-Hayward, CA | Oakland | CA | 100% |  | 57 | $46.39 | Whole Foods
14 | Hilltop Plaza | San Francisco-Oakland-Hayward, CA | Richmond | CA | 20% | DDRM | 246 | $17.30 | 99 Cents Only, Century Theatre, City Sports Club, dd's Discounts, Ross Dress for Less
15 | 1000 Van Ness | San Francisco-Oakland-Hayward, CA | San Francisco | CA | 100% |  | 122 | $37.66 | CGV Cinemas
16 | Centennial Promenade | Denver-Aurora-Lakewood, CO | Centennial | CO | 100% |  | 443 | $20.21 | Conn's, Golf Galaxy, HomeGoods, Michaels, Ross Dress for Less, Stickley Furniture, Total Wine & More
17 | Chapel Hills | Denver-Aurora-Lakewood, CO | Colorado Springs | CO | 100% |  | 450 | $13.12 | Barnes & Noble, Best Buy, Burlington, DSW, Nordstrom Rack, North Academy Fitness, Old Navy, Pep Boys, PetSmart, Ross Dress for Less, Urban Air Adventure Park, Whole Foods
18 | University Hills | Denver-Aurora-Lakewood, CO | Denver | CO | 100% |  | 236 | $20.00 | King Soopers, Marshalls, Michaels
19 | FlatAcres MarketCenter/Parker Pavilions | Denver-Aurora-Lakewood, CO | Parker | CO | 100% |  | 232 | $19.31 | 24 Hour Fitness, Bed Bath & Beyond, Michaels, Office Depot
20 | Guilford Commons | Hartford-West Hartford-East Hartford, CT | Guilford | CT | 100% |  | 127 | $17.82 | Bed Bath & Beyond, The Fresh Market
21 | Connecticut Commons | Hartford-West Hartford-East Hartford, CT | Plainville | CT | 20% | DTP | 561 | $13.69 | AMC Theatres, Dick's Sporting Goods, DSW, Kohl's, Lowe's, Marshalls, Old Navy, PetSmart
22 | Windsor Court | Hartford-West Hartford-East Hartford, CT | Windsor | CT | 100% |  | 79 | $19.86 | Stop & Shop
23 | Shoppes at Paradise Pointe | Crestview-Fort Walton Beach-Destin, FL | Fort Walton Beach | FL | 100% |  | 84 | $12.66 | Publix
24 | Melbourne Shopping Center | Palm Bay-Melbourne-Titusville, FL | Melbourne | FL | 100% |  | 210 | $8.87 | Big Lots, Indian River Antique Mall, Publix
25 | Shops at Boca Center | Miami-Fort Lauderdale-West Palm Beach, FL | Boca Raton | FL | 100% |  | 117 | $41.05 | Total Wine & More
26 | Village Square at Golf | Miami-Fort Lauderdale-West Palm Beach, FL | Boynton Beach | FL | 100% |  | 135 | $21.84 | —
27 | Shoppes at Addison Place | Miami-Fort Lauderdale-West Palm Beach, FL | Delray Beach | FL | 100% |  | 56 | $45.26 | —
28 | Concourse Village | Miami-Fort Lauderdale-West Palm Beach, FL | Jupiter | FL | 100% |  | 134 | $17.46 | Ross Dress for Less, T.J. Maxx
29 | The Shops at Midtown Miami | Miami-Fort Lauderdale-West Palm Beach, FL | Miami | FL | 100% |  | 467 | $21.35 | Dick's Sporting Goods, HomeGoods, Marshalls, Nordstrom Rack, Ross Dress for Less, Target, west elm
30 | The Fountains | Miami-Fort Lauderdale-West Palm Beach, FL | Plantation | FL | 100% |  | 430 | $16.60 | Dick's Sporting Goods, Jo-Ann, Kohl's, Marshalls/HomeGoods, Total Wine & More, Urban Air Trampoline & Adventure Park
31 | Midway Plaza | Miami-Fort Lauderdale-West Palm Beach, FL | Tamarac | FL | 100% |  | 228 | $14.45 | Publix, Ross Dress for Less
32 | Carillon Place | Naples-Immokalee-Marco Island, FL | Naples | FL | 100% |  | 265 | $16.12 | Bealls Outlet, DSW, OfficeMax, Ross Dress for Less, T.J. Maxx, Total Wine & More, Walmart Neighborhood Market
33 | Casselberry Commons | Orlando-Kissimmee-Sanford, FL | Casselberry | FL | 100% |  | 246 | $15.66 | Burlington, Publix, Ross Dress for Less, T.J. Maxx
34 | Lee Vista Promenade | Orlando-Kissimmee-Sanford, FL | Orlando | FL | 100% |  | 314 | $17.24 | Academy Sports, Bealls Outlet, Epic Theatres, HomeGoods, Michaels, Ross Dress for Less
35 | Millenia Crossing | Orlando-Kissimmee-Sanford, FL | Orlando | FL | 100% |  | 100 | $25.50 | Nordstrom Rack
36 | Oviedo Park Crossing | Orlando-Kissimmee-Sanford, FL | Oviedo | FL | 20% | DDRM | 186 | $11.11 | Bed Bath & Beyond, Michaels, OfficeMax, Ross Dress for Less, T.J. Maxx

24

SITE Centers Corp.

Property List - Excludes DDRM Pool A

Note: GLA in thousands. Anchors include tenants greater than 20K SF.

# | Center | MSA | Location | ST | SITE Own % | JV | Owned GLA | ABR PSF | Anchor Tenants
37 | Winter Garden Village | Orlando-Kissimmee-Sanford, FL | Winter Garden | FL | 100% |  | 759 | $20.43 | Bealls, Bed Bath & Beyond, Best Buy, Burlington, Forever 21, Havertys, Jo-Ann, LA Fitness, Marshalls, PetSmart, Ross Dress for Less, Staples
38 | Lake Brandon Plaza | Tampa-St. Petersburg-Clearwater, FL | Brandon | FL | 100% |  | 178 | $14.44 | Jo-Ann, Nordstrom Rack, Publix, Total Wine & More
39 | Lake Brandon Village | Tampa-St. Petersburg-Clearwater, FL | Brandon | FL | 100% |  | 114 | $15.64 | buybuy BABY, PetSmart, Sprouts Farmers Market
40 | The Collection at Brandon Boulevard | Tampa-St. Petersburg-Clearwater, FL | Brandon | FL | 100% |  | 222 | $13.65 | Bealls Outlet, Chuck E. Cheese's, Crunch Fitness, Kane Furniture
41 | The Shoppes of Boot Ranch | Tampa-St. Petersburg-Clearwater, FL | Palm Harbor | FL | 100% |  | 52 | $27.40 | —
42 | North Pointe Plaza | Tampa-St. Petersburg-Clearwater, FL | Tampa | FL | 100% |  | 108 | $15.30 | Publix
43 | Southtown Center | Tampa-St. Petersburg-Clearwater, FL | Tampa | FL | 100% |  | 44 | $36.90 | —
44 | The Shoppes at New Tampa | Tampa-St. Petersburg-Clearwater, FL | Wesley Chapel | FL | 100% |  | 159 | $15.48 | Publix, Ross Dress for Less
45 | Shoppes of Crabapple | Atlanta-Sandy Springs-Roswell, GA | Alpharetta | GA | 100% |  | 8 | $28.73 | —
46 | Hammond Springs | Atlanta-Sandy Springs-Roswell, GA | Atlanta | GA | 100% |  | 69 | $28.98 | —
47 | Perimeter Pointe | Atlanta-Sandy Springs-Roswell, GA | Atlanta | GA | 100% |  | 360 | $19.31 | Dick's Sporting Goods, HomeGoods, LA Fitness, Regal Cinemas
48 | Cumming Marketplace | Atlanta-Sandy Springs-Roswell, GA | Cumming | GA | 100% |  | 310 | $13.98 | Lowe's, Marshalls, Michaels, OfficeMax
49 | Cumming Town Center | Atlanta-Sandy Springs-Roswell, GA | Cumming | GA | 100% |  | 311 | $16.39 | Ashley Furniture HomeStore, Best Buy, Dick's Sporting Goods, T.J. Maxx/HomeGoods
50 | Sharon Greens | Atlanta-Sandy Springs-Roswell, GA | Cumming | GA | 100% |  | 98 | $12.65 | Kroger
51 | Hairston Crossing | Atlanta-Sandy Springs-Roswell, GA | Decatur | GA | 20% | DDRM | 58 | $9.72 | Goodwill
52 | Market Square | Atlanta-Sandy Springs-Roswell, GA | Douglasville | GA | 100% |  | 125 | $12.52 | Aaron's
53 | Towne Center Prado | Atlanta-Sandy Springs-Roswell, GA | Marietta | GA | 20% | DTP | 287 | $13.56 | Dick's Sporting Goods Warehouse, Publix, Ross Dress for Less
54 | Sandy Plains Village | Atlanta-Sandy Springs-Roswell, GA | Roswell | GA | 100% |  | 174 | $14.01 | Movie Tavern, Painted Tree Marketplace
55 | Presidential Commons | Atlanta-Sandy Springs-Roswell, GA | Snellville | GA | 100% |  | 376 | $12.50 | Burlington, buybuy BABY, Home Depot, Jo-Ann, Kroger
56 | Johns Creek Town Center | Atlanta-Sandy Springs-Roswell, GA | Suwanee | GA | 100% |  | 303 | $15.92 | Kohl's, Michaels, PetSmart, Sprouts Farmers Market, Staples
57 | 3030 North Broadway | Chicago-Naperville-Elgin, IL-IN-WI | Chicago | IL | 100% |  | 132 | $34.43 | Mariano's, XSport Fitness
58 | The Maxwell | Chicago-Naperville-Elgin, IL-IN-WI | Chicago | IL | 100% |  | 240 | $27.18 | Burlington, Dick's Sporting Goods, Nordstrom Rack, T.J. Maxx
59 | Deer Park Town Center | Chicago-Naperville-Elgin, IL-IN-WI | Deer Park | IL | 50% | RVIP IIIB | 357 | $32.81 | Century Theatre, Crate & Barrel, Gap
60 | Woodfield Village Green | Chicago-Naperville-Elgin, IL-IN-WI | Schaumburg | IL | 100% |  | 390 | $22.61 | Bloomingdale's The Outlet Store, Container Store, HomeGoods, Marshalls, Michaels, Nordstrom Rack, PetSmart, Sierra Trading Post, Trader Joe's
61 | Brookside Marketplace | Chicago-Naperville-Elgin, IL-IN-WI | Tinley Park | IL | 20% | DTP | 317 | $15.66 | Best Buy, Dick's Sporting Goods, HomeGoods, Michaels, PetSmart, Ross Dress for Less, T.J. Maxx
62 | Highland Grove Shopping Center | Chicago-Naperville-Elgin, IL-IN-WI | Highland | IN | 20% | DDRM | 312 | $15.57 | Burlington, Kohl's, Michaels
63 | Merriam Town Center / Merriam Village | Kansas City, MO-KS | Merriam | KS | 100% |  | 363 | $14.44 | Bob's Discount Furniture, Cinemark, Dick's Sporting Goods, Marshalls, OfficeMax, PetSmart
64 | Gateway Center | Boston-Cambridge-Newton, MA-NH | Everett | MA | 100% |  | 640 | $17.61 | Costco, Dollar Tree, Home Depot, Michaels, Old Navy, Target, Total Wine & More
65 | Shoppers World | Boston-Cambridge-Newton, MA-NH | Framingham | MA | 100% |  | 783 | $25.89 | AMC Theatres, Barnes & Noble, Best Buy, DSW, Golf Galaxy, Hobby Lobby, HomeSense, Kohl's, Macy's Furniture Gallery, Marshalls, Michaels, Nordstrom Rack, PetSmart, Sierra Trading Post, T.J. Maxx
66 | Independence Commons | Kansas City, MO-KS | Independence | MO | 20% | DTP | 386 | $15.24 | AMC Theatres, Best Buy, Bob's Discount Furniture, Kohl's, Marshalls, Ross Dress for Less
67 | The Promenade at Brentwood | St. Louis, MO-IL | Brentwood | MO | 100% |  | 338 | $15.59 | Burlington, Micro Center, PetSmart, Target, Trader Joe's
68 | East Hanover Plaza | New York-Newark-Jersey City, NY-NJ-PA | East Hanover | NJ | 100% |  | 98 | $20.68 | HomeGoods, HomeSense
69 | Edgewater Towne Center | New York-Newark-Jersey City, NY-NJ-PA | Edgewater | NJ | 100% |  | 76 | $27.06 | Whole Foods
70 | Freehold Marketplace | New York-Newark-Jersey City, NY-NJ-PA | Freehold | NJ | 100% |  | 21 | $36.30 | —
71 | Route 22 Retail Center | New York-Newark-Jersey City, NY-NJ-PA | Union | NJ | 20% | DTP | 112 | $15.90 | Big Lots, Dick's Sporting Goods
72 | Consumer Centre | New York-Newark-Jersey City, NY-NJ-PA | West Long Branch | NJ | 100% |  | 293 | $13.96 | buybuy BABY, Dick's Sporting Goods, DSW, Home Depot
73 | West Falls Plaza | New York-Newark-Jersey City, NY-NJ-PA | Woodland Park | NJ | 20% | DDRM | 91 | $21.05 | andThat!, Cost Plus
74 | Echelon Village Plaza | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | Voorhees | NJ | 100% |  | 89 | $12.91 | The Edge Fitness Clubs
75 | Hamilton Marketplace | Trenton, NJ | Hamilton | NJ | 100% |  | 550 | $19.90 | Barnes & Noble, Bed Bath & Beyond, Kohl's, Michaels, Ross Dress for Less, ShopRite, Staples

25

SITE Centers Corp.

Property List - Excludes DDRM Pool A

Note: GLA in thousands. Anchors include tenants greater than 20K SF.

# | Center | MSA | Location | ST | SITE Own % | JV | Owned GLA | ABR PSF | Anchor Tenants
76 | Nassau Park Pavilion | Trenton, NJ | Princeton | NJ | 100% |  | 750 | $15.58 | At Home, Best Buy, Burlington, buybuy BABY, Dick's Sporting Goods, HomeGoods, HomeSense, Michaels, PetSmart, Raymour & Flanigan, T.J. Maxx, Wegmans
77 | The Hub | New York-Newark-Jersey City, NY-NJ-PA | Hempstead | NY | 100% |  | 249 | $13.10 | Home Depot, Super Stop & Shop
78 | Belgate Shopping Center | Charlotte-Concord-Gastonia, NC-SC | Charlotte | NC | 100% |  | 289 | $16.48 | Burlington, Cost Plus World Market, Hobby Lobby, Marshalls, Old Navy, PetSmart, T.J. Maxx
79 | Carolina Pavilion | Charlotte-Concord-Gastonia, NC-SC | Charlotte | NC | 100% |  | 701 | $14.05 | AMC Theatres, American Freight Outlet Stores, AutoZone, Bed Bath & Beyond, Big Lots, Burlington, buybuy BABY, Conn's, Floor & Decor, Frontgate Outlet Store, Jo-Ann, Nordstrom Rack, Old Navy, Ross Dress for Less, Value City Furniture
80 | Cotswold Village | Charlotte-Concord-Gastonia, NC-SC | Charlotte | NC | 100% |  | 262 | $24.62 | Harris Teeter, Marshalls, PetSmart
81 | The Shops at The Fresh Market | Charlotte-Concord-Gastonia, NC-SC | Cornelius | NC | 100% |  | 131 | $16.73 | The Fresh Market
82 | Shoppes at Oliver's Crossing | Greensboro-High Point, NC | Winston Salem | NC | 20% | DDRM | 77 | $14.66 | Lowes Foods
83 | Meadowmont Village | Raleigh, NC | Chapel Hill | NC | 20% | DDRM | 185 | $21.98 | Harris Teeter
84 | Sexton Commons | Raleigh, NC | Fuquay Varina | NC | 20% | DDRM | 48 | $26.78 | —
85 | Poyner Place | Raleigh, NC | Raleigh | NC | 20% | DTP | 252 | $16.29 | Cost Plus World Market, Marshalls, Michaels, Ross Dress for Less, Urban Air Trampoline & Adventure Park
86 | University Centre | Wilmington, NC | Wilmington | NC | 20% | DTP | 418 | $11.26 | Bed Bath & Beyond, Lowe's, Old Navy, Ollie's Bargain Outlet, Ross Dress for Less
87 | Kenwood Square | Cincinnati, OH-KY-IN | Cincinnati | OH | 100% |  | 427 | $18.73 | Dick's Sporting Goods, Macy's Furniture Gallery, Marshalls/ HomeGoods, Michaels, T.J. Maxx, The Fresh Market
88 | Waterstone Center | Cincinnati, OH-KY-IN | Mason | OH | 100% |  | 162 | $17.44 | Best Buy, Michaels, Ross Dress for Less
89 | Stow Community Center | Cleveland-Elyria, OH | Stow | OH | 100% |  | 406 | $11.98 | Giant Eagle, Hobby Lobby, Kohl's, T.J. Maxx
90 | West Bay Plaza | Cleveland-Elyria, OH | Westlake | OH | 100% |  | 147 | $23.02 | Fresh Thyme Farmers Market, HomeSense
91 | Easton Market | Columbus, OH | Columbus | OH | 100% |  | 502 | $14.97 | Bed Bath & Beyond, buybuy BABY, DSW, HomeGoods, Marshalls, Michaels, Nordstrom Rack, PetSmart, Ross Dress for Less, Sierra Trading Post, T.J. Maxx, Value City Furniture
92 | Polaris Towne Center | Columbus, OH | Columbus | OH | 100% |  | 459 | $16.86 | Best Buy, Big Lots, Jo-Ann, Kroger, OfficeMax, T.J. Maxx
93 | Perimeter Center | Columbus, OH | Dublin | OH | 100% |  | 136 | $18.11 | Giant Eagle
94 | Springfield Commons | Toledo, OH | Toledo | OH | 20% | DDRM | 272 | $11.72 | Burlington, Kohl's, Planet Fitness
95 | Tanasbourne Town Center | Portland-Vancouver-Hillsboro, OR-WA | Hillsboro | OR | 100% |  | 285 | $21.15 | Bed Bath & Beyond, Marshalls, Michaels, Ross Dress for Less, Sierra Trading Post
96 | The Blocks | Portland-Vancouver-Hillsboro, OR-WA | Portland | OR | 100% |  | 97 | $35.64 | —
97 | Southmont Plaza | Allentown-Bethlehem-Easton, PA-NJ | Easton | PA | 100% |  | 251 | $16.09 | Barnes & Noble, Bed Bath & Beyond, Best Buy, Dick's Sporting Goods, Michaels, Staples
98 | Larkin's Corner | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | Boothwyn | PA | 100% |  | 225 | $9.58 | ACME, Walmart
99 | Ashbridge Square | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | Downingtown | PA | 100% |  | 386 | $9.35 | Christmas Tree Shops, Home Depot, Jo-Ann
100 | Ashley Crossing | Charleston-North Charleston, SC | Charleston | SC | 20% | DTP | 208 | $10.75 | Food Lion, Jo-Ann, Kohl's, Marshalls
101 | Wando Crossing | Charleston-North Charleston, SC | Mount Pleasant | SC | 100% |  | 214 | $15.79 | Ashley Furniture HomeStore, Marshalls, Michaels, T.J. Maxx, Total Wine & More
102 | Midtowne Park | Greenville-Anderson-Mauldin, SC | Anderson | SC | 100% |  | 167 | $9.89 | Dick's Sporting Goods, HomeGoods, Kohl's
103 | Cool Springs Pointe | Nashville-Davidson-Murfreesboro-Franklin, TN | Brentwood | TN | 100% |  | 198 | $15.83 | Best Buy, Restoration Hardware, Ross Dress for Less
104 | Vintage Plaza | Austin, TX | Round Rock | TX | 100% |  | 41 | $27.45 | —
105 | The Marketplace at Highland Village | Dallas-Fort Worth-Arlington, TX | Highland Village | TX | 100% |  | 207 | $18.53 | DSW, LA Fitness, T.J. Maxx/HomeGoods
106 | Shops at Tanglewood | Houston-The Woodlands-Sugar Land, TX | Houston | TX | 100% |  | 26 | $46.02 | —
107 | Bandera Pointe | San Antonio-New Braunfels, TX | San Antonio | TX | 100% |  | 490 | $12.29 | Barnes & Noble, Gold's Gym, Jo-Ann, Lowe's, Old Navy, PetSmart, Ross Dress for Less, T.J. Maxx, Urban Air Trampoline & Adventure Park

26

SITE Centers Corp.

Property List - Excludes DDRM Pool A

Note: GLA in thousands. Anchors include tenants greater than 20K SF.

# | Center | MSA | Location | ST | SITE Own % | JV | Owned GLA | ABR PSF | Anchor Tenants
108 | Terrell Plaza | San Antonio-New Braunfels, TX | San Antonio | TX | 100% |  | 108 | $20.43 | Ross Dress for Less
109 | Village at Stone Oak | San Antonio-New Braunfels, TX | San Antonio | TX | 100% |  | 450 | $19.06 | Alamo Drafthouse Cinema, Hobby Lobby, HomeGoods
110 | Emmet Street North | Charlottesville, VA | Charlottesville | VA | 100% |  | 2 | $86.32 | —
111 | Emmet Street Station | Charlottesville, VA | Charlottesville | VA | 100% |  | 11 | $51.82 | —
112 | Commonwealth Center | Richmond, VA | Midlothian | VA | 20% | DTP | 166 | $17.40 | Michaels, The Fresh Market
113 | Downtown Short Pump | Richmond, VA | Richmond | VA | 100% |  | 126 | $23.29 | Barnes & Noble, Regal Cinemas
114 | White Oak Village | Richmond, VA | Richmond | VA | 100% |  | 432 | $15.79 | JCPenney, K&G Fashion Superstore, Michaels, PetSmart, Publix
115 | Boulevard Marketplace | Washington-Arlington-Alexandria, DC-VA-MD-WV | Fairfax | VA | 100% |  | 19 | $40.87 | —
116 | Fairfax Marketplace | Washington-Arlington-Alexandria, DC-VA-MD-WV | Fairfax | VA | 100% |  | 19 | $56.74 | —
117 | Fairfax Pointe | Washington-Arlington-Alexandria, DC-VA-MD-WV | Fairfax | VA | 100% |  | 10 | $49.96 | —
118 | Fairfax Towne Center | Washington-Arlington-Alexandria, DC-VA-MD-WV | Fairfax | VA | 100% |  | 253 | $20.26 | Bed Bath & Beyond, Jo-Ann, Regal Cinemas, Safeway, T.J. Maxx
119 | Springfield Center | Washington-Arlington-Alexandria, DC-VA-MD-WV | Springfield | VA | 100% |  | 177 | $23.76 | Barnes & Noble, Bed Bath & Beyond, DSW, Marshalls, Michaels, The Tile Shop
|  |  | Total |  |  |  | 28,458 |  |
DDRM - DDRM Properties |  |  |  |  |  |
DTP - Dividend Trust Portfolio |  |  |  |  |  |
RVIP IIIB - Deer Park, IL |  |  |  |  |  |

27

SITE Centers Corp.

Property List - DDRM Pool A

Note: GLA in thousands. Anchors include tenants greater than 20K SF.

# | Center | MSA | Location | ST | SITE Own % | Owned GLA | ABR PSF | Anchor Tenants
1 | Sheridan Square | Miami-Fort Lauderdale-West Palm Beach, FL | Dania | FL | 20% | 67 | $12.00 | Walmart Neighborhood Market
2 | River Run | Miami-Fort Lauderdale-West Palm Beach, FL | Miramar | FL | 20% | 94 | $14.63 | Publix
3 | Northlake Commons | Miami-Fort Lauderdale-West Palm Beach, FL | Palm Beach Gardens | FL | 20% | 124 | $16.28 | Jo-Ann, Ross Dress for Less
4 | Flamingo Falls | Miami-Fort Lauderdale-West Palm Beach, FL | Pembroke Pines | FL | 20% | 108 | $23.99 | The Fresh Market
5 | Countryside Shoppes | Naples-Immokalee-Marco Island, FL | Naples | FL | 20% | 73 | $12.39 | Aldi, Athletica Health & Fitness
6 | Skyview Plaza | Orlando-Kissimmee-Sanford, FL | Orlando | FL | 20% | 265 | $13.20 | Badcock Home Furniture &more, dd's Discounts, Presidente Supermarket, Ross Dress for Less
7 | Creekwood Crossing | North Port-Sarasota-Bradenton, FL | Bradenton | FL | 20% | 235 | $12.10 | Bealls, Bealls Outlet, Big Lots, Circustrix
8 | Riverstone Plaza | Atlanta-Sandy Springs-Roswell, GA | Canton | GA | 20% | 308 | $13.18 | Bealls Outlet, Belk, Michaels, Publix, Ross Dress for Less
9 | Riverdale Shops | Springfield, MA | West Springfield | MA | 20% | 274 | $15.80 | Kohl's, Stop & Shop
10 | Fayetteville Pavilion | Fayetteville, NC | Fayetteville | NC | 20% | 275 | $12.97 | Christmas Tree Shops, Food Lion, Marshalls, Michaels, PetSmart
11 | Clayton Corners | Raleigh, NC | Clayton | NC | 20% | 126 | $13.41 | Lowes Foods
12 | Hilliard Rome Commons | Columbus, OH | Columbus | OH | 20% | 106 | $14.41 | Burlington, HomeGoods
13 | Apple Blossom Corners | Winchester, VA-WV | Winchester | VA | 20% | 243 | $12.00 | Books-A-Million, HomeGoods, Kohl's, Martin's
|  |  | Total |  |  | 2,297 |  |

28

SITE Centers 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.

Rental Income (Revenues)

•
Percentage and overage rents that 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.

Lease Modification Accounting

•
Elected not to apply lease modification accounting to lease amendments in which the total amount of rent due under the lease is substantially the same and there has been no increase in the lease term. A majority of the Company’s concession amendments within this category provide for the deferral of rental payments to a later date within the remaining lease term.
•
If abatements are granted as part of a lease amendment, the Company has elected to not treat the abatements as variable rent and instead will record the concession’s impact over the tenant’s remaining lease term on a straight-line basis. Modifications to leases that involve an increase in the lease term have been treated as a lease modification.
•
For those tenants where the Company is unable to assert that collection of amounts due over the lease term is probable, regardless if the Company has entered into a deferral agreement to extend the payment terms, the Company has categorized these tenants on the cash basis of accounting. As a result, no rental income is recognized from such tenants once they have been placed on the cash basis of accounting until payments are received and all existing accounts receivable relating to these tenants have been reserved in full, including straight-line rental income. The Company will remove the cash basis designation and resume recording rental income from such tenants during the period earned at such time it believes collection from the tenants is probable based upon a demonstrated payment history or recapitalization event.

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.

29

SITE Centers Corp.

Notable Accounting and Supplemental Policies

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 | 31.5 to 40 years
Building Improvements | 3 to 20 years
Furniture/Fixtures/ Tenant Improvements | Shorter of economic life or lease terms

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.

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.

30

SITE Centers Corp.

Non-GA AP 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. 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 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 real estate property and related investments, which are presented net of taxes, (iii) impairment charges on real estate property and related investments, (iv) gains and losses from changes in control and (v) 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 NAREIT.

The Company believes that certain charges, income and gains recorded in its operating results are not comparable or reflective of its core operating performance. Operating FFO is useful to investors as the Company removes non-comparable charges, income and gains to analyze the results of its operations and assess performance of the core operating real estate portfolio. 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, income and gains that management believes are not comparable and indicative of the results of the Company’s operating real estate portfolio. Such adjustments include write-off of preferred share original issuance costs, gains/losses on the early extinguishment of debt, certain transaction fee income, transaction costs and other restructuring type costs. The disclosure of these adjustments is regularly requested by users of the Company’s financial statements. The adjustment for these charges, income 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, income and gains are non-recurring. These charges, income 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.

31

SITE Centers Corp.

Non-GAAP Measures

In calculating the expected range for or amount of net (loss) income attributable to common shareholders to estimate projected FFO and Operating FFO for future periods, the Company does not include a projection of gain and losses from the disposition of real estate property, potential impairments and reserves of real estate property and related investments, debt extinguishment costs, certain transaction costs or certain fee income. Other real estate companies may calculate expected FFO and Operating FFO in a different manner.

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 (including reimbursements) and expenses, lease termination income, management fee expense, fair market value of leases and expense recovery adjustments. SSNOI includes assets owned in comparable periods (15 months for quarter comparisons). In addition, SSNOI is presented including activity associated with development and major redevelopment. In addition, 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 at its effective ownership interest 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.

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 herein. Reconciliation of 2022 SSNOI projected growth target to the most directly comparable GAAP financial measure is not provided because the Company is unable to provide such reconciliation without unreasonable effort.

32

SITE Centers Corp.

Non-GAAP Measures

Other Measures

SITE Pro Rata Share Financial Information

The Company believes that the SITE 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. SITE share financial information is frequently used by the real estate industry including securities analysts, investors and other interested parties to evaluate the performance of SITE compared to other REITs. Other real estate companies may calculate such information in a different manner.

SITE does not control the unconsolidated joint ventures and the presentations of SITE 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 SITE’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 (trailing twelve months), as opposed to net income determined in accordance with GAAP. Adjusted EBITDA is calculated as net income attributable to SITE before interest, income taxes, depreciation and amortization for the trailing twelve months 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 average of the Company’s consolidated debt outstanding excluding unamortized loan costs and fair market value adjustments, less cash and restricted cash as of the beginning of the twelve-month period and the balance sheet date presented. Such amounts are calculated at the Company’s proportionate share of ownership.

The Company also calculates EBITDAre as net income attributable to SITE before interest, income taxes, depreciation and amortization, gains and losses from disposition of real estate property and related investments, impairment charges on real estate property and related investments, including gain and losses from changes in control, all for the trailing twelve months. Such amount is also 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. The reconciliations of Adjusted EBITDA and net effective debt used in the consolidated and prorata Debt/Adjusted EBITDA ratios to their most directly comparable GAAP measures of net income (loss) and debt have been provided in the Debt Summary section.

33

SITE Centers Corp.

Portfolio Sum mary at 100%

GLA in thousands |  |  |  |  |  |  |  |  |  |
|  | 6/30/2022 |  | 3/31/2022 |  | 12/31/2021 |  | 9/30/2021 |  | 6/30/2021
Shopping Center Summary |  |  |  |  |  |  |  |  |  |
Operating Centers – 100% |  | 132 |  | 138 |  | 136 |  | 137 |  | 137
Wholly Owned - SITE |  | 99 |  | 92 |  | 89 |  | 81 |  | 80
JV Portfolio |  | 33 |  | 46 |  | 47 |  | 56 |  | 57
Owned and Ground Lease GLA – 100% |  | 30,755 |  | 32,142 |  | 32,007 |  | 32,347 |  | 32,492
Wholly Owned - SITE |  | 23,231 |  | 23,235 |  | 22,856 |  | 21,677 |  | 21,605
JV Portfolio – 100% |  | 7,524 |  | 8,907 |  | 9,151 |  | 10,670 |  | 10,887
Unowned GLA – 100% |  | 9,855 |  | 10,229 |  | 10,229 |  | 10,475 |  | 10,475
Quarterly Operational Overview |  |  |  |  |  |  |  |  |  |
SITE (100%) |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  | $18.07 |  | $17.72 |  | $17.52 |  | $17.51 |  | $17.46
Base Rent PSF < 10K |  | $29.13 |  | $28.21 |  | $27.76 |  | $27.68 |  | $27.61
Base Rent PSF > 10K |  | $14.63 |  | $14.52 |  | $14.42 |  | $14.44 |  | $14.43
Commenced Rate |  | 91.0% |  | 90.2% |  | 89.9% |  | 89.7% |  | 89.1%
Leased Rate |  | 94.3% |  | 93.1% |  | 92.5% |  | 91.7% |  | 91.2%
Leased Rate < 10K SF |  | 87.3% |  | 86.0% |  | 84.9% |  | 83.9% |  | 83.1%
Leased Rate > 10K SF |  | 96.8% |  | 95.6% |  | 95.1% |  | 94.4% |  | 93.9%
Wholly Owned SITE |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  | $19.06 |  | $18.74 |  | $18.52 |  | $18.67 |  | $18.61
Leased Rate |  | 94.6% |  | 93.3% |  | 92.8% |  | 92.9% |  | 92.3%
Leased Rate < 10K SF |  | 87.6% |  | 86.2% |  | 85.1% |  | 83.9% |  | 82.7%
Leased Rate > 10K SF |  | 97.0% |  | 95.7% |  | 95.4% |  | 95.7% |  | 95.4%
Joint Venture (100%) |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  | $15.25 |  | $15.22 |  | $15.15 |  | $15.25 |  | $15.27
Leased Rate |  | 93.6% |  | 92.6% |  | 91.6% |  | 89.5% |  | 88.8%
Leased Rate < 10K SF |  | 86.4% |  | 85.2% |  | 84.3% |  | 83.8% |  | 83.8%
Leased Rate > 10K SF |  | 96.2% |  | 95.2% |  | 94.3% |  | 91.7% |  | 90.8%
Joint Venture at Pro Rata Share |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  | $16.26 |  | $16.33 |  | $16.22 |  | $16.59 |  | $16.62
Leased Rate |  | 92.4% |  | 92.1% |  | 91.6% |  | 87.6% |  | 87.2%
Leased Rate < 10K SF |  | 83.7% |  | 83.2% |  | 83.8% |  | 83.5% |  | 84.0%
Leased Rate > 10K SF |  | 96.0% |  | 95.4% |  | 94.6% |  | 89.2% |  | 88.5%

34

SITE Centers Corp.

Leasing Summary

Wholly Owned at 100% |  |  |  |  |  |  |  |  |  |
Leasing Activity |  |  |  |  |  |  |  |  |  |  |
| Comparable Pool |  | Total Pool
| Count | GLA | New Rent PSF | Prior Rent PSF | Rent Spread | Wtd Avg Term (Years) |  | Count | GLA | New Rent PSF | Wtd Avg Term (Years)
New Leases |  |  |  |  |  |  |  |  |  |  |
2Q22 | 16 | 118,528 | $21.36 | $15.87 | 34.6% | 13.7 |  | 49 | 416,058 | $18.05 | 10.7
1Q22 | 19 | 110,898 | $18.34 | $15.94 | 15.1% | 8.7 |  | 53 | 260,589 | $23.00 | 9.8
4Q21 | 22 | 96,049 | $24.73 | $21.62 | 14.4% | 8.5 |  | 46 | 252,632 | $21.61 | 9.3
3Q21 | 13 | 82,261 | $19.00 | $15.92 | 19.3% | 8.7 |  | 35 | 218,767 | $20.37 | 8.7
| 70 | 407,736 | $20.85 | $17.25 | 20.9% | 10.1 |  | 183 | 1,148,046 | $20.40 | 9.8
Renewals |  |  |  |  |  |  |  |  |  |  |
2Q22 | 77 | 675,392 | $19.68 | $18.78 | 4.8% | 5.3 |  | 77 | 675,392 | $19.68 | 5.3
1Q22 | 74 | 574,783 | $17.30 | $16.39 | 5.6% | 4.8 |  | 74 | 574,783 | $17.30 | 4.8
4Q21 | 55 | 555,142 | $18.94 | $18.29 | 3.6% | 5.3 |  | 55 | 555,142 | $18.94 | 5.3
3Q21 | 53 | 634,537 | $18.09 | $17.83 | 1.5% | 5.5 |  | 53 | 634,537 | $18.09 | 5.5
| 259 | 2,439,854 | $18.54 | $17.86 | 3.8% | 5.3 |  | 259 | 2,439,854 | $18.54 | 5.3
New + Renewals |  |  |  |  |  |  |  |  |  |  |
2Q22 | 93 | 793,920 | $19.93 | $18.35 | 8.6% | 6.7 |  | 126 | 1,091,450 | $19.06 | 7.3
1Q22 | 93 | 685,681 | $17.47 | $16.31 | 7.1% | 5.5 |  | 127 | 835,372 | $19.08 | 6.7
4Q21 | 77 | 651,191 | $19.80 | $18.78 | 5.4% | 5.9 |  | 101 | 807,774 | $19.78 | 6.7
3Q21 | 66 | 716,798 | $18.19 | $17.61 | 3.3% | 5.9 |  | 88 | 853,304 | $18.68 | 6.4
| 329 | 2,847,590 | $18.87 | $17.77 | 6.2% | 6.0 |  | 442 | 3,587,900 | $19.13 | 6.8

Net Effective Rents |  |  |  |  |  |  |
|  | Avg | Capex PSF | NER | Wtd Avg
| GLA | Rent PSF | TA | LL Work | LC | Total | PSF | Term (Years)
New Leases (1) |  |  |  |  |  |  |  |
2Q22 | 411,277 | $18.94 | $3.70 | $2.41 | $0.79 | $6.90 | $12.04 | 10.8
1Q22 | 249,417 | $23.36 | $2.85 | $3.87 | $1.10 | $7.82 | $15.54 | 9.8
4Q21 | 252,632 | $22.77 | $2.67 | $4.05 | $1.08 | $7.80 | $14.97 | 9.3
3Q21 | 214,044 | $20.64 | $4.63 | $4.44 | $0.83 | $9.90 | $10.74 | 8.8
| 1,127,370 | $21.10 | $3.47 | $3.44 | $0.93 | $7.84 | $13.26 | 9.8
Renewals |  |  |  |  |  |  |  |
2Q22 | 675,392 | $19.97 | $0.17 | $0.00 | $0.02 | $0.19 | $19.78 | 5.3
1Q22 | 574,783 | $17.59 | $0.04 | $0.01 | $0.00 | $0.05 | $17.54 | 4.8
4Q21 | 555,142 | $19.26 | $0.08 | $0.00 | $0.00 | $0.08 | $19.18 | 5.3
3Q21 | 634,537 | $18.30 | $0.33 | $0.00 | $0.05 | $0.38 | $17.92 | 5.5
| 2,439,854 | $18.81 | $0.16 | $0.00 | $0.02 | $0.18 | $18.63 | 5.3
New + Renewals |  |  |  |  |  |  |  |
2Q22 | 1,086,669 | $19.58 | $2.16 | $1.36 | $0.46 | $3.98 | $15.60 | 7.2
1Q22 | 824,200 | $19.34 | $1.30 | $1.76 | $0.50 | $3.56 | $15.78 | 6.6
4Q21 | 807,774 | $20.36 | $1.20 | $1.76 | $0.47 | $3.43 | $16.93 | 6.7
3Q21 | 848,581 | $18.89 | $1.82 | $1.54 | $0.32 | $3.68 | $15.21 | 6.4
| 3,567,224 | $19.54 | $1.68 | $1.58 | $0.44 | $3.70 | $15.84 | 6.8
(1) New Leases exclude redevelopment activity.

35

SITE Centers Corp.

Leasing Summary

Unconsolidated Joint Ventures at 100% |  |  |  |  |  |  |  |  |
Leasing Activity |  |  |  |  |  |  |  |  |  |  |
| Comparable Pool |  | Total Pool
| Count | GLA | New Rent PSF | Prior Rent PSF | Rent Spread | Wtd Avg Term (Years) |  | Count | GLA | New Rent PSF | Wtd Avg Term (Years)
New Leases |  |  |  |  |  |  |  |  |  |  |
2Q22 | 4 | 37,795 | $13.64 | $16.06 | (15.1%) | 9.6 |  | 12 | 75,968 | $15.73 | 8.8
1Q22 | 5 | 52,105 | $13.67 | $11.33 | 20.7% | 7.9 |  | 18 | 155,261 | $15.03 | 9.0
4Q21 | 4 | 8,110 | $32.70 | $30.08 | 8.7% | 8.1 |  | 18 | 110,534 | $18.46 | 8.9
3Q21 | 12 | 73,300 | $18.82 | $16.87 | 11.6% | 9.1 |  | 22 | 92,515 | $19.04 | 8.4
| 25 | 171,310 | $16.77 | $15.63 | 7.3% | 8.8 |  | 70 | 434,278 | $16.88 | 8.8
Renewals |  |  |  |  |  |  |  |  |  |  |
2Q22 | 40 | 353,948 | $14.71 | $14.03 | 4.8% | 5.2 |  | 40 | 353,948 | $14.71 | 5.2
1Q22 | 35 | 85,823 | $26.10 | $24.36 | 7.1% | 5.1 |  | 35 | 85,823 | $26.10 | 5.1
4Q21 | 34 | 200,062 | $18.16 | $16.33 | 11.2% | 4.9 |  | 34 | 200,062 | $18.16 | 4.9
3Q21 | 47 | 446,750 | $14.58 | $13.51 | 7.9% | 4.8 |  | 47 | 446,750 | $14.58 | 4.8
| 156 | 1,086,583 | $16.19 | $15.05 | 7.6% | 5.0 |  | 156 | 1,086,583 | $16.19 | 5.0
New + Renewals |  |  |  |  |  |  |  |  |  |  |
2Q22 | 44 | 391,743 | $14.61 | $14.23 | 2.7% | 5.6 |  | 52 | 429,916 | $14.89 | 5.9
1Q22 | 40 | 137,928 | $21.41 | $19.43 | 10.2% | 5.8 |  | 53 | 241,084 | $18.97 | 7.1
4Q21 | 38 | 208,172 | $18.72 | $16.86 | 11.0% | 5.2 |  | 52 | 310,596 | $18.26 | 6.4
3Q21 | 59 | 520,050 | $15.18 | $13.98 | 8.6% | 5.5 |  | 69 | 539,265 | $15.34 | 5.5
| 181 | 1,257,893 | $16.27 | $15.13 | 7.5% | 5.5 |  | 226 | 1,520,861 | $16.39 | 6.1

Net Effective Rents |  |  |  |  |  |  |
|  | Avg | Capex PSF | NER | Wtd Avg
| GLA | Rent PSF | TA | LL Work | LC | Total | PSF | Term (Years)
New Leases |  |  |  |  |  |  |  |
2Q22 | 75,968 | $16.75 | $1.78 | $4.63 | $1.00 | $7.41 | $9.34 | 8.8
1Q22 | 155,261 | $15.81 | $2.53 | $1.19 | $0.81 | $4.53 | $11.28 | 9.0
4Q21 | 110,534 | $19.52 | $1.99 | $6.47 | $0.83 | $9.29 | $10.23 | 8.9
3Q21 | 92,515 | $20.03 | $1.37 | $3.57 | $0.96 | $5.90 | $14.13 | 8.4
| 434,278 | $17.82 | $2.03 | $3.64 | $0.88 | $6.55 | $11.27 | 8.8
Renewals |  |  |  |  |  |  |  |
2Q22 | 353,948 | $14.97 | $0.02 | $0.00 | $0.00 | $0.02 | $14.95 | 5.2
1Q22 | 85,823 | $27.01 | $0.39 | $0.00 | $0.00 | $0.39 | $26.62 | 5.1
4Q21 | 200,062 | $18.46 | $0.02 | $0.00 | $0.01 | $0.03 | $18.43 | 4.9
3Q21 | 446,750 | $14.74 | $0.16 | $0.00 | $0.00 | $0.16 | $14.58 | 4.8
| 1,086,583 | $16.47 | $0.10 | $0.00 | $0.00 | $0.10 | $16.37 | 5.0
New + Renewals |  |  |  |  |  |  |  |
2Q22 | 429,916 | $15.29 | $0.49 | $1.22 | $0.26 | $1.97 | $13.32 | 5.9
1Q22 | 241,084 | $19.79 | $2.16 | $0.97 | $0.66 | $3.79 | $16.00 | 7.1
4Q21 | 310,596 | $18.84 | $1.00 | $3.22 | $0.42 | $4.64 | $14.20 | 6.4
3Q21 | 539,265 | $15.65 | $0.47 | $0.92 | $0.25 | $1.64 | $14.01 | 5.5
| 1,520,861 | $16.85 | $0.90 | $1.50 | $0.36 | $2.76 | $14.09 | 6.1

36

SITE Centers Corp.

Leasing Expirations

Wholly Owned at 100%; $ and GLA in thousands |  |  |  |  |  |  |  |  |  |  |  |
Assumes no exercise of lease options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Greater than 10K SF |  | Less than 10K SF |  | Total
Year | # of Leases |  | Expiring SF | % of SF > 10K | ABR | % of ABR > 10K |  | Rent PSF |  | # of Leases |  | Expiring SF | % of SF < 10K | ABR | % of ABR < 10K |  | Rent PSF |  | # of Leases |  | Expiring SF | % of SF Total | ABR | % of ABR Total |  | Rent PSF
MTM | 2 |  | 61 | 0.4% | $891 | 0.4% |  | $14.61 |  | 24 |  | 55 | 1.1% | $1,554 | 1.0% |  | $28.25 |  | 26 |  | 116 | 0.5% | $2,445 | 0.6% |  | $21.08
2022 | 2 |  | 29 | 0.2% | 708 | 0.3% |  | $24.41 |  | 86 |  | 235 | 4.7% | 6,383 | 4.3% |  | $27.16 |  | 88 |  | 264 | 1.2% | 7,091 | 1.9% |  | $26.86
2023 | 69 |  | 2,078 | 12.8% | 28,546 | 12.5% |  | $13.74 |  | 215 |  | 646 | 13.0% | 19,191 | 12.9% |  | $29.71 |  | 284 |  | 2,724 | 12.9% | 47,737 | 12.6% |  | $17.52
2024 | 79 |  | 2,446 | 15.1% | 33,780 | 14.7% |  | $13.81 |  | 271 |  | 716 | 14.4% | 21,196 | 14.3% |  | $29.60 |  | 350 |  | 3,162 | 15.0% | 54,976 | 14.6% |  | $17.39
2025 | 74 |  | 2,342 | 14.5% | 33,735 | 14.7% |  | $14.40 |  | 239 |  | 733 | 14.8% | 20,639 | 13.9% |  | $28.16 |  | 313 |  | 3,075 | 14.5% | 54,374 | 14.4% |  | $17.68
2026 | 60 |  | 1,854 | 11.5% | 24,047 | 10.5% |  | $12.97 |  | 196 |  | 559 | 11.3% | 17,341 | 11.7% |  | $31.02 |  | 256 |  | 2,413 | 11.4% | 41,388 | 11.0% |  | $17.15
2027 | 74 |  | 2,587 | 16.0% | 37,291 | 16.3% |  | $14.41 |  | 187 |  | 610 | 12.3% | 17,427 | 11.7% |  | $28.57 |  | 261 |  | 3,197 | 15.1% | 54,718 | 14.5% |  | $17.12
2028 | 36 |  | 1,081 | 6.7% | 14,942 | 6.5% |  | $13.82 |  | 98 |  | 309 | 6.2% | 10,662 | 7.2% |  | $34.50 |  | 134 |  | 1,390 | 6.6% | 25,604 | 6.8% |  | $18.42
2029 | 23 |  | 746 | 4.6% | 11,664 | 5.1% |  | $15.64 |  | 79 |  | 275 | 5.5% | 9,075 | 6.1% |  | $33.00 |  | 102 |  | 1,021 | 4.8% | 20,739 | 5.5% |  | $20.31
2030 | 28 |  | 783 | 4.8% | 10,814 | 4.7% |  | $13.81 |  | 84 |  | 249 | 5.0% | 8,134 | 5.5% |  | $32.67 |  | 112 |  | 1,032 | 4.9% | 18,948 | 5.0% |  | $18.36
2031 | 17 |  | 835 | 5.2% | 8,788 | 3.8% |  | $10.52 |  | 63 |  | 212 | 4.3% | 6,168 | 4.1% |  | $29.09 |  | 80 |  | 1,047 | 5.0% | 14,956 | 4.0% |  | $14.28
Thereafter | 43 |  | 1,342 | 8.3% | 23,863 | 10.4% |  | $17.78 |  | 102 |  | 361 | 7.3% | 10,957 | 7.4% |  | $30.35 |  | 145 |  | 1,703 | 8.1% | 34,820 | 9.2% |  | $20.45
Total | 507 |  | 16,184 | 100.0% | $229,069 | 100.0% |  | $14.15 |  | 1,644 |  | 4,960 | 100.0% | $148,727 | 100.0% |  | $29.99 |  | 2,151 |  | 21,144 | 100.0% | $377,796 | 100.0% |  | $17.87
Assumes all lease options are exercised |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Greater than 10K SF |  | Less than 10K SF |  | Total
Year | # of Leases |  | Expiring SF | % of SF > 10K | ABR | % of ABR > 10K |  | Rent PSF |  | # of Leases |  | Expiring SF | % of SF < 10K | ABR | % of ABR < 10K |  | Rent PSF |  | # of Leases |  | Expiring SF | % of SF Total | ABR | % of ABR Total |  | Rent PSF
MTM | 1 |  | 20 | 0.1% | 119 | 0.1% |  | $5.95 |  | 22 |  | 52 | 1.0% | $1,455 | 1.0% |  | $27.98 |  | 23 |  | 72 | 0.3% | $1,574 | 0.4% |  | $21.86
2022 | 0 |  | 0 | 0.0% | 0 | 0.0% |  | $0.00 |  | 58 |  | 149 | 3.0% | 3,822 | 2.6% |  | $25.65 |  | 58 |  | 149 | 0.7% | 3,822 | 1.0% |  | $25.65
2023 | 7 |  | 161 | 1.0% | 3,953 | 1.7% |  | $24.55 |  | 127 |  | 326 | 6.6% | 9,822 | 6.6% |  | $30.13 |  | 134 |  | 487 | 2.3% | 13,775 | 3.6% |  | $28.29
2024 | 12 |  | 239 | 1.5% | 3,759 | 1.6% |  | $15.73 |  | 159 |  | 366 | 7.4% | 11,436 | 7.7% |  | $31.25 |  | 171 |  | 605 | 2.9% | 15,195 | 4.0% |  | $25.12
2025 | 13 |  | 301 | 1.9% | 4,098 | 1.8% |  | $13.61 |  | 137 |  | 349 | 7.0% | 9,947 | 6.7% |  | $28.50 |  | 150 |  | 650 | 3.1% | 14,045 | 3.7% |  | $21.61
2026 | 4 |  | 79 | 0.5% | 968 | 0.4% |  | $12.25 |  | 88 |  | 210 | 4.2% | 6,617 | 4.4% |  | $31.51 |  | 92 |  | 289 | 1.4% | 7,585 | 2.0% |  | $26.25
2027 | 15 |  | 317 | 2.0% | 5,560 | 2.4% |  | $17.54 |  | 96 |  | 246 | 5.0% | 7,468 | 5.0% |  | $30.36 |  | 111 |  | 563 | 2.7% | 13,028 | 3.4% |  | $23.14
2028 | 18 |  | 291 | 1.8% | 4,938 | 2.2% |  | $16.97 |  | 90 |  | 264 | 5.3% | 8,218 | 5.5% |  | $31.13 |  | 108 |  | 555 | 2.6% | 13,156 | 3.5% |  | $23.70
2029 | 12 |  | 355 | 2.2% | 5,004 | 2.2% |  | $14.10 |  | 86 |  | 231 | 4.7% | 6,647 | 4.5% |  | $28.77 |  | 98 |  | 586 | 2.8% | 11,651 | 3.1% |  | $19.88
2030 | 16 |  | 427 | 2.6% | 6,706 | 2.9% |  | $15.70 |  | 83 |  | 235 | 4.7% | 6,587 | 4.4% |  | $28.03 |  | 99 |  | 662 | 3.1% | 13,293 | 3.5% |  | $20.08
2031 | 16 |  | 315 | 1.9% | 5,814 | 2.5% |  | $18.46 |  | 77 |  | 204 | 4.1% | 5,900 | 4.0% |  | $28.92 |  | 93 |  | 519 | 2.5% | 11,714 | 3.1% |  | $22.57
Thereafter | 393 |  | 13,679 | 84.5% | 188,150 | 82.1% |  | $13.75 |  | 621 |  | 2,328 | 46.9% | 70,808 | 47.6% |  | $30.42 |  | 1,014 |  | 16,007 | 75.7% | 258,958 | 68.5% |  | $16.18
Total | 507 |  | 16,184 | 100.0% | $229,069 | 100.0% |  | $14.15 |  | 1,644 |  | 4,960 | 100.0% | $148,727 | 100.0% |  | $29.99 |  | 2,151 |  | 21,144 | 100.0% | $377,796 | 100.0% |  | $17.87
Note: Includes ground leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

37

SITE Centers Corp.

Leasing 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
Year | # of Leases |  | Expiring SF | % of SF > 10K | ABR | % of ABR > 10K |  | Rent PSF |  | # of Leases |  | Expiring SF | % of SF < 10K | ABR | % of ABR < 10K |  | Rent PSF |  | # of Leases |  | Expiring SF | % of SF Total | ABR | % of ABR Total |  | Rent PSF
MTM | 0 |  | 0 | 0.0% | $0 | 0.0% |  | $0.00 |  | 4 |  | 14 | 0.9% | $249 | 0.6% |  | $17.79 |  | 4 |  | 14 | 0.2% | $249 | 0.2% |  | $17.79
2022 | 2 |  | 60 | 1.2% | 581 | 0.9% |  | $9.68 |  | 14 |  | 36 | 2.2% | 859 | 2.1% |  | $23.86 |  | 16 |  | 96 | 1.4% | 1,440 | 1.4% |  | $15.00
2023 | 19 |  | 402 | 7.7% | 5,800 | 9.4% |  | $14.43 |  | 87 |  | 257 | 15.8% | 6,103 | 14.8% |  | $23.75 |  | 106 |  | 659 | 9.7% | 11,903 | 11.6% |  | $18.06
2024 | 27 |  | 1,065 | 20.5% | 9,826 | 16.0% |  | $9.23 |  | 95 |  | 283 | 17.4% | 7,220 | 17.5% |  | $25.51 |  | 122 |  | 1,348 | 19.8% | 17,046 | 16.6% |  | $12.65
2025 | 21 |  | 539 | 10.4% | 6,948 | 11.3% |  | $12.89 |  | 77 |  | 196 | 12.1% | 4,709 | 11.4% |  | $24.03 |  | 98 |  | 735 | 10.8% | 11,657 | 11.3% |  | $15.86
2026 | 27 |  | 765 | 14.7% | 9,137 | 14.8% |  | $11.94 |  | 92 |  | 231 | 14.2% | 5,458 | 13.2% |  | $23.63 |  | 119 |  | 996 | 14.6% | 14,595 | 14.2% |  | $14.65
2027 | 22 |  | 612 | 11.8% | 8,022 | 13.0% |  | $13.11 |  | 77 |  | 225 | 13.9% | 6,004 | 14.5% |  | $26.68 |  | 99 |  | 837 | 12.3% | 14,026 | 13.6% |  | $16.76
2028 | 18 |  | 619 | 11.9% | 6,820 | 11.1% |  | $11.02 |  | 29 |  | 85 | 5.2% | 2,430 | 5.9% |  | $28.59 |  | 47 |  | 704 | 10.3% | 9,250 | 9.0% |  | $13.14
2029 | 7 |  | 258 | 5.0% | 3,444 | 5.6% |  | $13.35 |  | 23 |  | 83 | 5.1% | 2,305 | 5.6% |  | $27.77 |  | 30 |  | 341 | 5.0% | 5,749 | 5.6% |  | $16.86
2030 | 4 |  | 102 | 2.0% | 1,230 | 2.0% |  | $12.06 |  | 18 |  | 51 | 3.1% | 1,197 | 2.9% |  | $23.47 |  | 22 |  | 153 | 2.2% | 2,427 | 2.4% |  | $15.86
2031 | 10 |  | 331 | 6.4% | 4,783 | 7.8% |  | $14.45 |  | 17 |  | 51 | 3.1% | 1,601 | 3.9% |  | $31.39 |  | 27 |  | 382 | 5.6% | 6,384 | 6.2% |  | $16.71
Thereafter | 11 |  | 448 | 8.6% | 5,014 | 8.1% |  | $11.19 |  | 31 |  | 110 | 6.8% | 3,179 | 7.7% |  | $28.90 |  | 42 |  | 558 | 8.2% | 8,193 | 8.0% |  | $14.68
Total | 168 |  | 5,201 | 100.0% | $61,605 | 100.0% |  | $11.84 |  | 564 |  | 1,622 | 100.0% | $41,314 | 100.0% |  | $25.47 |  | 732 |  | 6,823 | 100.0% | $102,919 | 100.0% |  | $15.08
Assumes all lease options are exercised |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Greater than 10K SF |  | Less than 10K SF |  | Total
Year | # of Leases |  | Expiring SF | % of SF > 10K | ABR | % of ABR > 10K |  | Rent PSF |  | # of Leases |  | Expiring SF | % of SF < 10K | ABR | % of ABR < 10K |  | Rent PSF |  | # of Leases |  | Expiring SF | % of SF Total | ABR | % of ABR Total |  | Rent PSF
MTM | 0 |  | 0 | 0.0% | 0 | 0.0% |  | $0.00 |  | 4 |  | 14 | 0.9% | $249 | 0.6% |  | $17.79 |  | 4 |  | 14 | 0.2% | $249 | 0.2% |  | $17.79
2022 | 1 |  | 37 | 0.7% | 292 | 0.5% |  | $7.89 |  | 9 |  | 15 | 0.9% | 365 | 0.9% |  | $24.33 |  | 10 |  | 52 | 0.8% | 657 | 0.6% |  | $12.63
2023 | 8 |  | 148 | 2.8% | 2,095 | 3.4% |  | $14.16 |  | 68 |  | 188 | 11.6% | 4,525 | 11.0% |  | $24.07 |  | 76 |  | 336 | 4.9% | 6,620 | 6.4% |  | $19.70
2024 | 3 |  | 43 | 0.8% | 511 | 0.8% |  | $11.88 |  | 61 |  | 162 | 10.0% | 4,437 | 10.7% |  | $27.39 |  | 64 |  | 205 | 3.0% | 4,948 | 4.8% |  | $24.14
2025 | 5 |  | 67 | 1.3% | 1,151 | 1.9% |  | $17.18 |  | 54 |  | 124 | 7.6% | 3,068 | 7.4% |  | $24.74 |  | 59 |  | 191 | 2.8% | 4,219 | 4.1% |  | $22.09
2026 | 3 |  | 54 | 1.0% | 697 | 1.1% |  | $12.91 |  | 53 |  | 108 | 6.7% | 2,683 | 6.5% |  | $24.84 |  | 56 |  | 162 | 2.4% | 3,380 | 3.3% |  | $20.86
2027 | 4 |  | 84 | 1.6% | 876 | 1.4% |  | $10.43 |  | 51 |  | 135 | 8.3% | 3,598 | 8.7% |  | $26.65 |  | 55 |  | 219 | 3.2% | 4,474 | 4.3% |  | $20.43
2028 | 3 |  | 81 | 1.6% | 1,291 | 2.1% |  | $15.94 |  | 29 |  | 83 | 5.1% | 2,338 | 5.7% |  | $28.17 |  | 32 |  | 164 | 2.4% | 3,629 | 3.5% |  | $22.13
2029 | 8 |  | 223 | 4.3% | 2,062 | 3.3% |  | $9.25 |  | 32 |  | 99 | 6.1% | 2,716 | 6.6% |  | $27.43 |  | 40 |  | 322 | 4.7% | 4,778 | 4.6% |  | $14.84
2030 | 5 |  | 122 | 2.3% | 1,389 | 2.3% |  | $11.39 |  | 21 |  | 53 | 3.3% | 1,305 | 3.2% |  | $24.62 |  | 26 |  | 175 | 2.6% | 2,694 | 2.6% |  | $15.39
2031 | 7 |  | 143 | 2.7% | 2,339 | 3.8% |  | $16.36 |  | 37 |  | 95 | 5.9% | 2,503 | 6.1% |  | $26.35 |  | 44 |  | 238 | 3.5% | 4,842 | 4.7% |  | $20.34
Thereafter | 121 |  | 4,199 | 80.7% | 48,902 | 79.4% |  | $11.65 |  | 145 |  | 546 | 33.7% | 13,527 | 32.7% |  | $24.77 |  | 266 |  | 4,745 | 69.5% | 62,429 | 60.7% |  | $13.16
Total | 168 |  | 5,201 | 100.0% | $61,605 | 100.0% |  | $11.84 |  | 564 |  | 1,622 | 100.0% | $41,314 | 100.0% |  | $25.47 |  | 732 |  | 6,823 | 100.0% | $102,919 | 100.0% |  | $15.08
Note: Includes ground leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

38

SITE CENTERS INVESTOR RELATIONS DEPARTMENT e: ir@sitecenters.com w: ir.sitecenters.com 3300 Enterprise Pkwy, Beachwood, OH 44122 o:216-755-5500 f:216-755-1500 w: sitecenters.com • NYSE:SITC