EX-99.1 3 sitc-ex99_1.htm EX-99.1

Exhibit 99.1

SITE QUARTERLY FINANCIAL SUPPLEMENT FOR THE PERIOD ENDED JUNE 30, 2024 RECENT ACQUISITION CROCKER COMMONS, WESTLAKE, OHIO 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 $3.6B ENTERPRISE VALUE 101 WHOLLY - OWNED PROPERTIES $113K AVERAGE HOUSEHOLD INCOME 93.2% LEASED RATE COMMITTED TO A SUSTAINABLE FUTURE GLOBAL REPORTING INITIATIVE GREEN LEASE LEADER U.S. GREEN BUILDING COUNCIL LEED USGBCTM CORPORATE HQ RENOVATION GOAL GRESB® Bloomberg Gender-Equality Index 2023 Member PORTFOLIO COMPOSITION Top 5 MSAs by ABR OTHER 56% MIAMI 9% ATLANTA 9% ORLANDO 9% CHICAGO 9% Trenton 8% ABR by Region* NORTHEAST 13% SOUTHEAST 50% MIDWEST 14% NORTHWEST 1% CALIFORNIA 9% SOUTHWEST 6% MOUNTAIN 7% Retailer Mix LOCAL 14% NATIONAL 86% NOTE: ALL FIGURES AT COMPANY’S SHARE AND AS OF JUNE 30, 2024. NEW YORK • HONG KONG • ATLANTA • CLEVELAND DENVER • LOS ANGELES • MIAMI • PHOENIX • TAMPA SITC LISTED NYSE SITE

SITE Centers Corp.

Section | Page
Earnings Release & Financial Statements |
Press Release | 1-9
Company Summary |
Portfolio Summary | 10
Capital Structure | 11
Same Store Metrics | 12
Leasing Summary | 13-14
Lease Expirations | 15
Top 50 Tenants | 16
Investments |
Redevelopment Pipeline | 17
Transactions | 18
Debt Summary |
Debt Summary | 19
Debt Detail | 20
Debt/Adjusted EBITDA | 21
Unconsolidated Joint Ventures |
Unconsolidated Joint Ventures | 22-24
Shopping Center Summary |
Property List | 25-27
Reporting Policies and Other |
Notable Accounting and Supplemental Policies | 28-29
Non-GAAP Measures | 30-32
Leasing Metrics for Wholly-Owned and Unconsolidated Joint Ventures at 100% | 33-37

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, including statements regarding the Company's projected operational and financial performance, strategy, prospects and plans, 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, general economic conditions, including inflation and interest rate volatility; local conditions such as the supply of, and demand for, retail real estate space in our geographic markets; the consistency with future results of assumptions based on past performance; 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; our ability to enter into agreements to buy and sell properties on commercially reasonable terms and to satisfy closing conditions applicable to such sales; our ability to complete the spin-off of Curbline Properties in a timely manner or at all; our ability to secure equity or debt financing on commercially acceptable terms or at all; redevelopment and construction activities may not achieve a desired return on investment; impairment charges; 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; the impact of pandemics and other public health crises; unauthorized access, use, theft or destruction of financial, operations or third party data maintained in our information systems or by third parties on our behalf; our ability to maintain REIT status; and the finalization of the financial statements for the period ended June 30, 2024. 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 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 2024 Results

Beachwood, Ohio, July 30, 2024 - 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, 2024.

“The planned spin-off of Curbline Properties remains on track with further progress in the second quarter across all fronts highlighted by nearly $1 billion of quarterly transactions, 24% trailing-twelve month new leasing spreads for Curbline Properties, and over $50 million of debt repurchased or retired prior to maturity,” commented David R. Lukes, President and Chief Executive Officer. “We remain excited to launch and scale what is expected to be the first public real estate company focused exclusively on Convenience properties and remain encouraged by the opportunity set and growth prospects, both organic and via acquisitions, for Curbline Properties."

Results for the Second Quarter

•
Second quarter net income attributable to common shareholders was $235.5 million, or $1.11 per diluted share, as compared to net income of $2.6 million, or $0.01 per diluted share, in the year-ago period. The increase year-over-year primarily was the result of higher gain on sale from dispositions and interest income partially offset by the impact of lower property Net Operating Income (“NOI") as a result of net property dispositions and the write-off of fees related to the mortgage facility commitment and Curbline transaction costs.
•
Second quarter operating funds from operations attributable to common shareholders (“Operating FFO” or “OFFO”) was $55.9 million, or $0.27 per diluted share, compared to $61.3 million, or $0.29 per diluted share, in the year-ago period. The decrease year-over-year primarily was due to the impact of lower property NOI as a result of net property dispositions, partially offset by higher interest income.

Significant Second Quarter and Recent Activity

•
Sold 15 shopping centers and a parcel at a shopping center in the second quarter and third quarter to date for an aggregate price of $868.2 million ($839.0 million at share), including 13 shopping centers and a parcel at a shopping center during the second quarter for an aggregate price of $800.7 million ($771.5 million at share).
•
Acquired six convenience shopping centers and a ground leased parcel of land during the second quarter and third quarter to date for an aggregate price of $56.0 million, including Red Mountain Corner (Phoenix, AZ) for $2.1 million, Sunrise Plaza (Vero Beach, FL) for $5.5 million, Roswell Market Center (Atlanta, GA) for $17.8 million, Wilmette Center (Chicago, IL) for $2.9 million, Crocker Commons (Cleveland, OH) for $18.5 million, Maple Corner (Nashville, Tennessee) for $8.2 million and a ground leased parcel at Collection at Brandon Boulevard (Tampa, FL) for $1.0 million. The Company also acquired its joint venture partner's 80% interest in Meadowmont Village (Raleigh, NC) for $35.4 million.
•
During the quarter, repurchased $26.7 million aggregate principal amount of outstanding senior unsecured notes due in 2026 and 2027 for total cash consideration, including expenses, of $26.3 million and recorded a gain on retirement of debt of approximately $0.3 million.
•
In July 2024, announced a one-for-four reverse stock split of the Company’s common shares. The Company anticipates the common shares will begin trading on a split-adjusted basis on the NYSE at the opening of trading on August 19, 2024.
•
Issued the Company's tenth Corporate Responsibility and Sustainability Report. The report was completed in alignment with the Global Reporting Initiative and with the Sustainability Accounting Standards Board metrics and frameworks. The report intends to provide an annual update on the Company's corporate responsibility and sustainability programs and can be found at https://www.sitecenters.com/2023CSR.

Curbline Properties

•
In October 2023, announced the expected spin-off of the Company’s Convenience assets into a separate publicly-traded REIT to be named Curbline Properties Corp. (“Curbline Properties” or “CURB”). The spin-off is expected to be

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completed on or around October 1, 2024. As of June 30, 2024, the Company has amassed a portfolio of 72 wholly-owned properties to be included in the CURB portfolio, including assets separated or in the process of being separated from SITE Centers properties. The transaction is subject to certain conditions, including the effectiveness of CURB’s Form 10 registration statement and final approval and declaration of the distribution by SITE Centers' Board of Directors.
•
In October 2023, obtained a commitment from affiliates of Apollo, including ATLAS SP Partners, to provide a $1.1 billion mortgage facility to be secured by 40 properties with flexibility to reduce the commitment or loan balance with proceeds from asset sales or other sources of capital. The mortgage is expected to be funded prior to the spin-off date with loan and additional asset sale proceeds expected to be used to retire all unsecured debt, including all outstanding public notes, prior to the spin-off of CURB. In the first and second quarters of 2024, the Company released 13 properties that had previously been identified to serve as collateral for the facility, thereby reducing the committed amount to $554.8 million as of June 30, 2024. The Company expensed $8.6 million of fees related to the facility in the second quarter as a result of the property releases and the corresponding commitment reduction.

Key Quarterly Operating Results

•
Reported an increase of 0.8% in same-store net operating income (“SSNOI”) on a pro rata basis for the second quarter of 2024 as compared to the year-ago period.
•
Generated cash new leasing spreads of 38.8% and cash renewal leasing spreads of 6.9%, both on a pro rata basis, for the trailing twelve-month period ended June 30, 2024, and cash new leasing spreads of 44.2% and cash renewal leasing spreads of 9.1%, both on a pro rata basis, for the second quarter of 2024.
•
Generated straight-lined new leasing spreads of 50.1% and straight-lined renewal leasing spreads of 11.6%, both on a pro rata basis, for the trailing twelve-month period ended June 30, 2024, and straight-lined new leasing spreads of 50.6% and straight-lined renewal leasing spreads of 14.8%, both on a pro rata basis, for the second quarter of 2024.
•
Reported a leased rate of 93.2% at June 30, 2024 compared to 94.2% at March 31, 2024 and 95.5% at June 30, 2023, all on a pro rata basis. The sequential decline was primarily related to the sale of properties in the second quarter with an average leased rate of 96.7%.
•
As of June 30, 2024, the Signed Not Opened (“SNO”) spread was 230 basis points, representing $10.2 million of annualized base rent on a pro rata basis.

Property NOI Projection

The Company projects, based on the assumptions below, 2024 property level NOI to be as follows:

Portfolio |  | NOI Projection ($M)
SITE Centers |  | $198.3 – $204.4
Curbline Properties |  | $82.6 – $84.9

These projections:

•
Calculate NOI pursuant to the definition of NOI used in the SSNOI calculation as described below, except that it includes lease termination fees (SITC and CURB NOI includes $1.1M and $3.3M of YTD 2024 termination fees, respectively), excludes NOI from all properties sold prior to June 30, 2024, assumes all SITE Centers properties owned as of June 30, 2024 are held for the full year 2024 and includes NOI for Curbline Properties assets acquired in 2024 from the date of acquisition,
•
Assume 2024 SSNOI growth of 3.5% – 5.5% for Curbline Properties,
•
Exclude from NOI G&A allocated to operating expenses which totaled $2.2 million in 2Q2024, or $8.8 million annualized and
•
Adjust NOI for the estimated impact of remaining expected parcel separations and includes NOI for SITE Centers from its Beachwood, OH office headquarters.

In reliance on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K, reconciliation of the projected NOI and assumed range of 2024 SSNOI growth to the most directly comparable GAAP financial measure is not provided because the Company is unable to provide such reconciliations without unreasonable effort due to the multiple components of the calculations which for the same-store calculation only includes properties owned for comparable periods and excludes all corporate level activity as described below under Non-GAAP Measures and Other Operational Metrics.

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

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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.

Conference Call and Supplemental Information

The Company will hold its quarterly conference call today at 8:00 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 2886949 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 7227743 through August 30, 2024. Copies of the Company’s supplemental package and earnings slide presentation are available on the Company’s website.

Non-GAAP Measures and Other Operational Metrics

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 (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 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/losses. Operating FFO is useful to investors as the Company removes non-comparable charges, income and gains/losses to analyze the results of its operations and assess performance of the core operating real estate portfolio. Other real estate companies may calculate FFO and Operating FFO in a different manner.

The Company also uses 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 and 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 prior period comparisons). In addition, SSNOI is presented including activity associated with 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. In reliance on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K, reconciliation of the projected NOI and assumed rate of 2024 SSNOI growth to the most directly comparable GAAP financial measure is not provided because the Company is unable to provide such reconciliations without unreasonable effort due to the multiple components of the calculations which for the same-store calculation only includes properties owned for comparable periods and excludes all corporate level activity as noted above.

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The Company calculates Cash Leasing Spreads by comparing the prior tenant's annual base rent in the final year of the prior lease to the executed tenant's annual base rent in the first year of the executed lease. Straight-Lined Leasing Spreads are calculated by comparing the prior tenant's average base rent over the prior lease term to the executed tenant's average base rent over the term of the executed lease. For both SITE Cash and Straight-Lined Leasing Spreads, the reported calculation includes only comparable leases which are deals executed within one year of the date that the prior tenant vacated. Deals executed after one year of the date the prior tenant vacated, deals which are a combination of existing units, new leases at redevelopment properties, and deals for units vacant at the time of acquisition are considered non-comparable and excluded from the calculation. For both Curbline Properties Cash and Straight-Lined Leasing Spreads, the reported calculation includes both leases vacant greater than twelve months along with split and combination deals. The Curbline Properties calculation excludes first generation units and spaces vacant at the time of acquisition.

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, including statements regarding the Company's projected operational and financial performance, strategy, prospects and plans, 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, general economic conditions, including inflation and interest rate volatility; local conditions such as the supply of, and demand for, retail real estate space in our geographic markets; the consistency with future results of assumptions based on past performance; 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; our ability to enter into agreements to buy and sell properties on commercially reasonable terms and to satisfy closing conditions applicable to such sales; our ability to complete the spin-off of Curbline Properties in a timely manner or at all; our ability to secure equity or debt financing on commercially acceptable terms or at all; redevelopment and construction activities may not achieve a desired return on investment; impairment charges; 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; the impact of pandemics and other public health crises; unauthorized access, use, theft or destruction of financial, operations or third party data maintained in our information systems or by third parties on our behalf; our ability to maintain REIT status; and the finalization of the financial statements for the period ended June 30, 2024. 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 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 |  |  |
|  | 2Q24 |  | 2Q23 |  | 6M24 |  | 6M23
| Revenues: |  |  |  |  |  |  |
| Rental income (1) | $113,480 |  | $135,954 |  | $233,072 |  | $271,826
| Other property revenues | 649 |  | 429 |  | 1,678 |  | 1,390
|  | 114,129 |  | 136,383 |  | 234,750 |  | 273,216
| Expenses: |  |  |  |  |  |  |
| Operating and maintenance | 19,251 |  | 22,476 |  | 39,795 |  | 45,642
| Real estate taxes | 16,148 |  | 20,279 |  | 32,886 |  | 40,332
|  | 35,399 |  | 42,755 |  | 72,681 |  | 85,974
| Net operating income (2) | 78,730 |  | 93,628 |  | 162,069 |  | 187,242
| Other income (expense): |  |  |  |  |  |  |
| JV and other fee income | 1,542 |  | 1,775 |  | 3,012 |  | 3,634
| Interest expense | (18,426) |  | (20,921) |  | (37,339) |  | (40,844)
| Depreciation and amortization | (40,439) |  | (58,698) |  | (83,589) |  | (112,714)
| General and administrative (3) | (12,713) |  | (14,031) |  | (23,785) |  | (24,676)
| Other income (expense), net (4) | (6,214) |  | (634) |  | (6,319) |  | (1,321)
| Impairment charges | 0 |  | 0 |  | (66,600) |  | 0
| Income (loss) before earnings from JVs and other | 2,480 |  | 1,119 |  | (52,551) |  | 11,321
| Equity in net income of JVs | 61 |  | 4,618 |  | 78 |  | 5,977
| Gain on sale and change in control of interests | 2,669 |  | 0 |  | 2,669 |  | 3,749
| Gain on disposition of real estate, net | 233,316 |  | (22) |  | 265,030 |  | 183
| Tax expense | (281) |  | (362) |  | (533) |  | (575)
| Net income | 238,245 |  | 5,353 |  | 214,693 |  | 20,655
| Non-controlling interests | 0 |  | 0 |  | 0 |  | (18)
| Net income SITE Centers | 238,245 |  | 5,353 |  | 214,693 |  | 20,637
| Preferred dividends | (2,789) |  | (2,789) |  | (5,578) |  | (5,578)
| Net income Common Shareholders | $235,456 |  | $2,564 |  | $209,115 |  | $15,059
| Weighted average shares – Basic – EPS | 209,553 |  | 209,266 |  | 209,486 |  | 209,616
| Assumed conversion of diluted securities | 1,756 |  | 181 |  | 767 |  | 445
| Weighted average shares – Diluted – EPS | 211,309 |  | 209,447 |  | 210,253 |  | 210,061
| Earnings per common share – Basic | $1.12 |  | $0.01 |  | $1.00 |  | $0.07
| Earnings per common share – Diluted | $1.11 |  | $0.01 |  | $0.99 |  | $0.07
(1) | Rental income: |  |  |  |  |  |  |
| Minimum rents | $73,510 |  | $89,023 |  | $149,572 |  | $177,996
| Ground lease minimum rents | 5,296 |  | 6,343 |  | 10,740 |  | 12,812
| Straight-line rent, net | 1,464 |  | 988 |  | 2,144 |  | 1,664
| Amortization of (above)/below-market rent, net | 961 |  | 1,691 |  | 2,113 |  | 2,876
| Percentage and overage rent | 1,460 |  | 2,252 |  | 3,387 |  | 3,403
| Recoveries | 28,550 |  | 34,501 |  | 58,232 |  | 69,817
| Uncollectible revenue | (369) |  | (548) |  | (14) |  | (315)
| Ancillary and other rental income | 1,058 |  | 1,448 |  | 2,294 |  | 3,205
| Lease termination fees | 1,550 |  | 256 |  | 4,604 |  | 368
(2) | Includes NOI from wholly-owned assets sold in 2024 | 11,206 |  | N/A |  | 26,438 |  | N/A
(3) | Separation charge | 0 |  | 2,928 |  | 0 |  | 2,928
(4) | Interest income (fees), net | 8,550 |  | (90) |  | 15,844 |  | (114)
| Transaction costs | (4,191) |  | (544) |  | (7,589) |  | (1,207)
| Debt extinguishment costs | (9,780) |  | 0 |  | (10,445) |  | 0
| Gain on debt retirement | 277 |  | 0 |  | 1,037 |  | 0
| Loss on equity derivative instruments | (1,070) |  | 0 |  | (5,166) |  | 0

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SITE Centers Corp.

Reconciliation: Net Income to FFO and Operating FFO

and Other Financial Information

| in thousands, except per share |  |  |
|  | 2Q24 |  | 2Q23 |  | 6M24 |  | 6M23
| Net income attributable to Common Shareholders | $235,456 |  | $2,564 |  | $209,115 |  | $15,059
| Depreciation and amortization of real estate | 39,203 |  | 57,350 |  | 81,022 |  | 110,067
| Equity in net income of JVs | (61) |  | (4,618) |  | (78) |  | (5,977)
| JVs' FFO | 1,564 |  | 2,201 |  | 3,148 |  | 4,183
| Non-controlling interests | 0 |  | 0 |  | 0 |  | 18
| Impairment of real estate | 0 |  | 0 |  | 66,600 |  | 0
| Gain on sale and change in control of interests | (2,669) |  | 0 |  | (2,669) |  | (3,749)
| (Gain) loss on disposition of real estate, net | (233,316) |  | 22 |  | (265,030) |  | (183)
| FFO attributable to Common Shareholders | $40,177 |  | $57,519 |  | $92,108 |  | $119,418
| Gain on debt retirement | (277) |  | 0 |  | (1,037) |  | 0
| Loss on equity derivative instruments | 1,070 |  | 0 |  | 5,166 |  | 0
| Transaction, debt extinguishment and other (at SITE's share) | 14,083 |  | 677 |  | 18,222 |  | 1,506
| Separation and Other charges | 830 |  | 3,099 |  | 1,225 |  | 3,099
| Total non-operating items, net | 15,706 |  | 3,776 |  | 23,576 |  | 4,605
| Operating FFO attributable to Common Shareholders | $55,883 |  | $61,295 |  | $115,684 |  | $124,023
| Weighted average shares & units – Basic: FFO & OFFO | 209,553 |  | 209,326 |  | 209,486 |  | 209,717
| Assumed conversion of dilutive securities | 723 |  | 181 |  | 767 |  | 445
| Weighted average shares & units – Diluted: FFO & OFFO | 210,276 |  | 209,507 |  | 210,253 |  | 210,162
| FFO per share – Basic | $0.19 |  | $0.27 |  | $0.44 |  | $0.57
| FFO per share – Diluted | $0.19 |  | $0.27 |  | $0.44 |  | $0.57
| Operating FFO per share – Basic | $0.27 |  | $0.29 |  | $0.55 |  | $0.59
| Operating FFO per share – Diluted | $0.27 |  | $0.29 |  | $0.55 |  | $0.59
| Common stock dividends declared, per share | $0.13 |  | $0.13 |  | $0.26 |  | $0.26
| Capital expenditures (SITE Centers share): |  |  |  |  |  |  |
| Redevelopment costs | 2,957 |  | 3,707 |  | 6,010 |  | 8,117
| Maintenance capital expenditures | 2,371 |  | 4,878 |  | 3,657 |  | 7,024
| Tenant allowances and landlord work | 9,446 |  | 11,031 |  | 21,481 |  | 25,752
| Leasing commissions | 2,359 |  | 2,066 |  | 4,318 |  | 4,394
| Construction administrative costs (capitalized) | 853 |  | 805 |  | 1,814 |  | 1,601
| Certain non-cash items (SITE Centers share): |  |  |  |  |  |  |
| Straight-line rent | 1,510 |  | 1,024 |  | 2,224 |  | 1,720
| Straight-line fixed CAM | 59 |  | 69 |  | 123 |  | 144
| Amortization of below-market rent/(above), net | 1,041 |  | 1,782 |  | 2,310 |  | 3,051
| Straight-line ground rent expense | (1) |  | (41) |  | (6) |  | (105)
| Debt fair value and loan cost amortization | (1,405) |  | (1,198) |  | (2,816) |  | (2,426)
| Capitalized interest expense | 179 |  | 308 |  | 471 |  | 594
| Stock compensation expense | (2,057) |  | (1,742) |  | (3,945) |  | (3,362)
| Non-real estate depreciation expense | (1,237) |  | (1,349) |  | (2,569) |  | (2,652)

6

SITE Centers Corp.

Balance Sheet: Consolidated Interests

| $ in thousands |  |  |
|  | At Period End
|  | 2Q24 |  | 4Q23
| Assets: |  |  |
| Land | $766,741 |  | $930,540
| Buildings | 2,709,676 |  | 3,311,368
| Fixtures and tenant improvements | 460,678 |  | 537,872
|  | 3,937,095 |  | 4,779,780
| Depreciation | (1,322,286) |  | (1,570,377)
|  | 2,614,809 |  | 3,209,403
| Construction in progress and land | 34,304 |  | 51,379
| Real estate, net | 2,649,113 |  | 3,260,782
| Investments in and advances to JVs | 32,576 |  | 39,372
| Cash | 1,181,292 |  | 551,968
| Restricted cash | 4,286 |  | 17,063
| Receivables and straight-line (1) | 48,165 |  | 65,623
| Intangible assets, net (2) | 92,423 |  | 86,363
| Other assets, net | 37,710 |  | 40,180
| Total Assets | 4,045,565 |  | 4,061,351
| Liabilities and Equity: |  |  |
| Revolving credit facilities | 0 |  | 0
| Unsecured debt | 1,216,029 |  | 1,303,243
| Unsecured term loan | 199,023 |  | 198,856
| Secured debt | 98,579 |  | 124,176
|  | 1,513,631 |  | 1,626,275
| Dividends payable | 30,170 |  | 63,806
| Other liabilities (3) | 167,665 |  | 195,727
| Total Liabilities | 1,711,466 |  | 1,885,808
| Preferred shares | 175,000 |  | 175,000
| Common shares | 21,437 |  | 21,437
| Paid-in capital | 5,973,663 |  | 5,974,904
| Distributions in excess of net income | (3,780,374) |  | (3,934,736)
| Deferred compensation | 4,937 |  | 5,167
| Accumulated comprehensive income | 8,572 |  | 6,121
| Common shares in treasury at cost | (69,136) |  | (72,350)
| Total Equity | 2,334,099 |  | 2,175,543
| Total Liabilities and Equity | $4,045,565 |  | $4,061,351
(1) | SL rents (including fixed CAM), net | $27,477 |  | $31,206
(2) | Operating lease right of use assets | 16,350 |  | 17,373
| Below market ground leases (as lessee) | 13,670 |  | 0
(3) | Operating lease liabilities | 36,091 |  | 37,108
| Below-market leases, net | 37,977 |  | 46,096

7

SITE Centers Corp.

Reconciliation of Net Income Attributable to SITE to Same Store NOI

$ in thousands |  |  |  |  |  |  |
| 2Q24 |  | 2Q23 |  | 2Q24 |  | 2Q23
| SITE Centers at 100% |  | At SITE Centers Share (Non-GAAP)
GAAP Reconciliation: |  |  |  |  |  |  |
Net income attributable to SITE Centers | $238,245 |  | $5,353 |  | $238,245 |  | $5,353
Fee income | (1,542) |  | (1,775) |  | (1,542) |  | (1,775)
Interest expense | 18,426 |  | 20,921 |  | 18,426 |  | 20,921
Depreciation and amortization | 40,439 |  | 58,698 |  | 40,439 |  | 58,698
General and administrative | 12,713 |  | 14,031 |  | 12,713 |  | 14,031
Other expense (income), net | 6,214 |  | 634 |  | 6,214 |  | 634
Equity in net income of joint ventures | (61) |  | (4,618) |  | (61) |  | (4,618)
Tax expense | 281 |  | 362 |  | 281 |  | 362
Gain on sale and change in control of interests | (2,669) |  | 0 |  | (2,669) |  | 0
(Gain) loss on disposition of real estate, net | (233,316) |  | 22 |  | (233,316) |  | 22
Consolidated NOI | 78,730 |  | 93,628 |  | 78,730 |  | 93,628
Less: Non-Same Store NOI adjustments |  |  |  |  | (15,651) |  | (31,002)
Total Consolidated SSNOI |  |  |  |  | $63,079 |  | $62,626
Consolidated SSNOI % Change |  |  |  |  | 0.7% |  |
Net income from unconsolidated joint ventures | 7,334 |  | 15,860 |  | 1,582 |  | 3,233
Interest expense | 7,902 |  | 6,307 |  | 1,758 |  | 1,441
Depreciation and amortization | 6,785 |  | 8,281 |  | 1,663 |  | 1,938
Other expense (income), net | 2,048 |  | 2,378 |  | 472 |  | 538
Gain on disposition of real estate, net | (8,426) |  | (14,874) |  | (1,685) |  | (2,975)
Unconsolidated NOI | $15,643 |  | $17,952 |  | 3,790 |  | 4,175
Less: Non-Same Store NOI adjustments |  |  |  |  | (320) |  | (807)
Total Unconsolidated SSNOI at SITE share |  |  |  |  | $3,470 |  | $3,368
Unconsolidated SSNOI % Change |  |  |  |  | 3.0% |  |
SSNOI % Change at SITE Share |  |  |  |  | 0.8% |  |

8

SITE Centers Corp.

Reconciliation of Net Income Attributable to SITE to Same Store NOI

$ in thousands |  |  |  |  |  |  |
| 6M24 |  | 6M23 |  | 6M24 |  | 6M23
| SITE Centers at 100% |  | At SITE Centers Share (Non-GAAP)
GAAP Reconciliation: |  |  |  |  |  |  |
Net income attributable to SITE Centers | $214,693 |  | $20,637 |  | $214,693 |  | $20,637
Fee income | (3,012) |  | (3,634) |  | (3,012) |  | (3,634)
Interest expense | 37,339 |  | 40,844 |  | 37,339 |  | 40,844
Depreciation and amortization | 83,589 |  | 112,714 |  | 83,589 |  | 112,714
General and administrative | 23,785 |  | 24,676 |  | 23,785 |  | 24,676
Other expense (income), net | 6,319 |  | 1,321 |  | 6,319 |  | 1,321
Impairment charges | 66,600 |  | 0 |  | 66,600 |  | 0
Equity in net income of joint ventures | (78) |  | (5,977) |  | (78) |  | (5,977)
Tax expense | 533 |  | 575 |  | 533 |  | 575
Gain on sale and change in control of interests | (2,669) |  | (3,749) |  | (2,669) |  | (3,749)
Gain on disposition of real estate, net | (265,030) |  | (183) |  | (265,030) |  | (183)
Income from non-controlling interests | 0 |  | 18 |  | 0 |  | 18
Consolidated NOI | 162,069 |  | 187,242 |  | 162,069 |  | 187,242
Less: Non-Same Store NOI adjustments |  |  |  |  | (36,200) |  | (62,359)
Total Consolidated SSNOI |  |  |  |  | $125,869 |  | $124,883
Consolidated SSNOI % Change |  |  |  |  | 0.8% |  |
Net income from unconsolidated joint ventures | 6,179 |  | 20,627 |  | 1,406 |  | 4,237
Interest expense | 16,173 |  | 13,348 |  | 3,590 |  | 3,028
Depreciation and amortization | 13,930 |  | 17,343 |  | 3,390 |  | 4,029
Other expense (income), net | 3,944 |  | 4,938 |  | 913 |  | 1,112
Gain on disposition of real estate, net | (8,397) |  | (20,178) |  | (1,679) |  | (4,037)
Unconsolidated NOI | $31,829 |  | $36,078 |  | 7,620 |  | 8,369
Less: Non-Same Store NOI adjustments |  |  |  |  | (789) |  | (1,681)
Total Unconsolidated SSNOI at SITE share |  |  |  |  | $6,831 |  | $6,688
Unconsolidated SSNOI % Change |  |  |  |  | 2.1% |  |
SSNOI % Change at SITE Share |  |  |  |  | 0.9% |  |

9

SITE Centers Corp.

Portfolio Summary

|  |  |  |  | 6/30/2024 |  | 3/31/2024 |  | 12/31/2023 |  | 9/30/2023 |  | 6/30/2023
Shopping Center Count |  |  |  |  |  |  |  |  |  |
Operating Centers - 100% |  | 112 |  | 114 |  | 114 |  | 119 |  | 121
Wholly Owned |  | 101 |  | 101 |  | 101 |  | 106 |  | 108
JV Portfolio |  | 11 |  | 13 |  | 13 |  | 13 |  | 13
Gross Leasable Area (GLA) |  |  |  |  |  |  |  |  |  |
Owned and Ground Lease - Pro Rata Share |  | 15,051 |  | 18,686 |  | 19,312 |  | 22,329 |  | 22,999
Wholly Owned |  | 14,194 |  | 17,740 |  | 18,369 |  | 21,386 |  | 22,056
JV Portfolio - Pro Rata Share |  | 857 |  | 946 |  | 943 |  | 943 |  | 943
Quarterly Operational Overview |  |  |  |  |  |  |  |  |  |
Pro Rata Share |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  | $21.98 |  | $20.69 |  | $20.35 |  | $20.20 |  | $19.89
Base Rent PSF < 10K |  | $33.67 |  | $33.18 |  | $32.76 |  | $32.09 |  | $31.59
Base Rent PSF > 10K |  | $16.38 |  | $15.66 |  | $15.48 |  | $15.88 |  | $15.77
Commenced Rate |  | 90.9% |  | 91.6% |  | 92.0% |  | 92.0% |  | 92.4%
Commenced Rate < 10K SF |  | 88.1% |  | 88.6% |  | 88.2% |  | 87.3% |  | 86.4%
Commenced Rate > 10K SF |  | 92.3% |  | 92.9% |  | 93.5% |  | 93.7% |  | 94.7%
Leased Rate |  | 93.2% |  | 94.2% |  | 94.5% |  | 94.6% |  | 95.5%
Leased Rate < 10K SF |  | 90.6% |  | 91.0% |  | 90.9% |  | 91.0% |  | 90.7%
Leased Rate > 10K SF |  | 94.5% |  | 95.5% |  | 95.9% |  | 95.9% |  | 97.2%
Operational Statistics |  |  |  |  |  |  |  |  |  |
% of Aggregate Property NOI - Wholly Owned |  | 94.8% |  | 95.4% |  | 95.4% |  | 95.9% |  | 96.1%
% of Aggregate Property NOI - Joint Venture – Pro Rata Share |  | 5.2% |  | 4.6% |  | 4.6% |  | 4.1% |  | 3.9%
Quarterly SITE SSNOI at share including redevelopment |  | 0.8% |  | 1.5% |  | 0.3% |  | 2.9% |  | 1.7%
TTM New Leasing - at pro rata share (GLA in 000's) |  | 474 |  | 552 |  | 613 |  | 699 |  | 703
TTM Renewals - at pro rata share (GLA in 000's) |  | 2,635 |  | 2,933 |  | 2,685 |  | 2,943 |  | 3,156
TTM Total Leasing - at pro rata share (GLA in 000's) |  | 3,109 |  | 3,485 |  | 3,298 |  | 3,642 |  | 3,859
TTM Cash Blended New and Renewal Rent Spreads - at pro rata share |  | 9.9% |  | 8.8% |  | 9.0% |  | 10.6% |  | 8.9%
TTM GAAP Blended New and Renewal Rent Spreads - at pro rata share |  | 15.2% |  | 13.9% |  | 14.5% |  | 15.6% |  | 13.6%
Top 20 MSA Exposure |  |  |  |  |  |  |  |  |  |  |
|  | MSA | Properties |  | GLA |  | % of GLA |  | ABR |  | % of ABR |  | ABR PSF
1 |  | Miami-Fort Lauderdale-West Palm Beach, FL | 7 |  | 1,152 |  | 7.7% |  | $25,462 |  | 9.0% |  | $26.37
2 |  | Atlanta-Sandy Springs-Roswell, GA | 14 |  | 1,583 |  | 10.5% |  | 25,082 |  | 8.9% |  | $18.20
3 |  | Chicago-Naperville-Elgin, IL-IN-WI | 6 |  | 1,012 |  | 6.7% |  | 24,767 |  | 8.8% |  | $27.58
4 |  | Orlando-Kissimmee-Sanford, FL | 4 |  | 1,181 |  | 7.8% |  | 24,131 |  | 8.6% |  | $21.56
5 |  | Trenton, NJ | 2 |  | 1,306 |  | 8.7% |  | 22,854 |  | 8.1% |  | $18.93
6 |  | Denver-Aurora-Lakewood, CO | 7 |  | 1,162 |  | 7.7% |  | 20,604 |  | 7.3% |  | $19.83
7 |  | Phoenix-Mesa-Scottsdale, AZ | 11 |  | 743 |  | 4.9% |  | 15,707 |  | 5.6% |  | $25.78
8 |  | San Antonio-New Braunfels, TX | 3 |  | 932 |  | 6.2% |  | 12,941 |  | 4.6% |  | $18.20
9 |  | Los Angeles-Long Beach-Anaheim, CA | 2 |  | 666 |  | 4.4% |  | 12,823 |  | 4.6% |  | $24.75
10 |  | Charlotte-Concord-Gastonia, NC-SC | 4 |  | 867 |  | 5.8% |  | 12,465 |  | 4.4% |  | $16.44
11 |  | Richmond, VA | 4 |  | 598 |  | 4.0% |  | 10,125 |  | 3.6% |  | $21.54
12 |  | Washington-Arlington-Alexandria, DC-VA-MD-WV | 5 |  | 479 |  | 3.2% |  | 9,784 |  | 3.5% |  | $27.50
13 |  | Tampa-St. Petersburg-Clearwater, FL | 4 |  | 432 |  | 2.9% |  | 8,044 |  | 2.9% |  | $21.31
14 |  | San Francisco-Oakland-Hayward, CA | 3 |  | 132 |  | 0.9% |  | 6,389 |  | 2.3% |  | $53.66
15 |  | Sacramento-Roseville-Arden-Arcade, CA | 2 |  | 275 |  | 1.8% |  | 5,833 |  | 2.1% |  | $30.32
16 |  | St. Louis, MO-IL | 1 |  | 338 |  | 2.2% |  | 5,511 |  | 2.0% |  | $25.40
17 |  | New York-Newark-Jersey City, NY-NJ-PA | 4 |  | 217 |  | 1.4% |  | 5,506 |  | 2.0% |  | $24.93
18 |  | Cleveland-Elyria, OH | 1 |  | 406 |  | 2.7% |  | 5,006 |  | 1.8% |  | $12.67
19 |  | Allentown-Bethlehem-Easton, PA-NJ | 1 |  | 251 |  | 1.7% |  | 3,362 |  | 1.2% |  | $16.00
20 |  | Houston-The Woodlands-Sugar Land, TX | 4 |  | 97 |  | 0.6% |  | 3,337 |  | 1.2% |  | $40.51
|  | Other | 23 |  | 1,222 |  | 8.1% |  | 21,928 |  | 7.8% |  | $22.11
|  | Total | 112 |  | 15,051 |  | 100.0% |  | $281,661 |  | 100.0% |  | $21.98
Note: $ and GLA in thousands except shopping center count and base rent PSF; Top 20 MSA figures for SITE at share except for property count

10

SITE Centers Corp.

Capital S tructure

$, shares and units in thousands, except per share |  |  |  |  |  |
|  | June 30, 2024 |  | December 31, 2023 |  | December 31, 2022
Capital Structure |  |  |  |  |  |
Market Value Per Share |  | $14.50 |  | $13.63 |  | $13.66
Common Shares Outstanding |  | 209,562 |  | 209,328 |  | 210,853
Operating Partnership Units |  | 0 |  | 0 |  | 141
Total Outstanding Common Shares |  | 209,562 |  | 209,328 |  | 210,994
Common Shares Equity |  | $3,038,649 |  | $2,853,141 |  | $2,882,178
Perpetual Preferred Stock - Class A |  | 175,000 |  | 175,000 |  | 175,000
Unsecured Credit Facilities |  | 0 |  | 0 |  | 0
Unsecured Term Loan |  | 200,000 |  | 200,000 |  | 200,000
Unsecured Notes Payable |  | 1,217,893 |  | 1,305,758 |  | 1,457,741
Mortgage Debt (includes JVs at SITE share) |  | 206,800 |  | 240,882 |  | 165,408
Total Debt (includes JVs at SITE share) |  | 1,624,693 |  | 1,746,640 |  | 1,823,149
Less: Cash (including restricted cash) |  | 1,196,881 |  | 581,760 |  | 31,011
Net Debt |  | $427,812 |  | $1,164,880 |  | $1,792,138
Total Market Capitalization |  | $3,641,461 |  | $4,193,020 |  | $4,849,316
Leverage / Public Debt Covenants |  |  |  |  |  |
Average Consolidated Net Effective Debt |  | 1,051,612 |  | 1,376,540 |  | 1,664,859
Consolidated Adjusted EBITDA - TTM |  | 335,558 |  | 347,807 |  | 348,406
Average Consolidated Net Debt / Adjusted EBITDA(1) |  | 3.1X |  | 4.0X |  | 4.8X
Average Pro-Rata Net Effective Debt |  | 1,149,216 |  | 1,484,533 |  | 1,806,016
Pro-Rata Adjusted EBITDA - TTM |  | 342,021 |  | 353,822 |  | 356,198
Average Pro-Rata Net Debt / Adjusted EBITDA(1) |  | 3.4X |  | 4.2X |  | 5.1X
Outstanding Debt & Obligations |  | 1,532,613 |  | 1,649,895 |  | 1,730,562
Undepreciated Real Estate Assets |  | 4,003,976 |  | 4,870,531 |  | 5,477,767
Total Debt to Real Estate Assets Ratio(2) |  | 38% |  | 34% |  | 32%
Covenant |  | 65% |  | 65% |  | 65%
Secured Debt & Obligations |  | 100,000 |  | 125,651 |  | 54,173
Total Assets |  | 5,363,621 |  | 5,626,403 |  | 5,690,332
Secured Debt to Assets Ratio |  | 2% |  | 2% |  | 1%
Covenant |  | 40% |  | 40% |  | 40%
Unencumbered Real Estate Assets |  | 3,820,906 |  | 4,622,639 |  | 5,319,838
Unsecured Debt & Obligations |  | 1,432,613 |  | 1,524,244 |  | 1,676,388
Unencumbered Assets to Unsecured Debt(2) |  | 267% |  | 303% |  | 317%
Covenant |  | 135% |  | 135% |  | 135%
Net Income Available for Debt Service |  | 312,166 |  | 331,462 |  | 336,115
Maximum Annual Service Charge |  | 80,365 |  | 84,195 |  | 81,425
Fixed Charge Coverage Ratio |  | 3.9X |  | 3.9X |  | 4.1X
Covenant |  | 1.5X |  | 1.5X |  | 1.5X
Credit Ratings (Outlook) |  |  |  |  |  |
Moody's |  | Baa3 (Negative) |  | Baa3 (Negative) |  | Baa3 (Stable)
S&P |  | BBB- (Negative) |  | BBB- (Negative) |  | BBB- (Stable)
Fitch |  | BBB (Positive) |  | BBB (Positive) |  | BBB (Stable)
(1) Excludes Perpetual Preferred Stock. See definition in the Non-GAAP Measures section. |  |  |  |
(2) Real Estate Assets and Unencumbered Assets exclude consolidated cash and cash equivalents. |  |  |  |

11

SITE Centers Corp.

Same Store Metrics (1)

| Same Store Net Operating Income
| Quarterly Same Store NOI |  | YTD Same Store NOI
| 2Q24 |  | 2Q23 | Change |  | 6M24 |  | 6M23 | Change
Consolidated SSNOI Leased rate | 93.2% |  | 94.7% | (1.5%) |  | 93.2% |  | 94.7% | (1.5%)
Consolidated SSNOI Commenced rate | 90.8% |  | 90.9% | (0.1%) |  | 90.8% |  | 90.9% | (0.1%)
Revenues: |  |  |  |  |  |  |  |  |
Minimum rents | $64,626 |  | $62,983 |  |  | $127,811 |  | $126,038 |
Recoveries | 23,467 |  | 23,329 |  |  | 47,034 |  | 46,301 |
Uncollectible revenue | (458) |  | (361) |  |  | (239) |  | (78) |
Percentage and overage rents | 1,151 |  | 1,796 |  |  | 2,944 |  | 2,781 |
Ancillary and other rental income | 1,325 |  | 1,412 |  |  | 2,804 |  | 2,990 |
| 90,111 |  | 89,159 | 1.1% |  | 180,354 |  | 178,032 | 1.3%
Expenses: |  |  |  |  |  |  |  |  |
Operating and maintenance | (13,474) |  | (13,195) |  |  | (27,219) |  | (26,345) |
Real estate taxes | (13,558) |  | (13,338) |  |  | (27,266) |  | (26,804) |
| (27,032) |  | (26,533) | 1.9% |  | (54,485) |  | (53,149) | 2.5%
Total Consolidated SSNOI | $63,079 |  | $62,626 | 0.7% |  | $125,869 |  | $124,883 | 0.8%
Total Unconsolidated SSNOI at SITE share | 3,470 |  | 3,368 |  |  | 6,831 |  | 6,688 |
Total SSNOI at SITE share (1) | $66,549 |  | $65,994 | 0.8% |  | $132,700 |  | $131,571 | 0.9%
Consolidated SSNOI Operating Margin | 70.0% |  | 70.2% |  |  | 69.8% |  | 70.1% |
Consolidated SSNOI Recovery Rate | 86.8% |  | 87.9% |  |  | 86.3% |  | 87.1% |
(1) See calculation definition in the Non-GAAP Measures section and GAAP reconciliation on pages 8 and 9. Figures reported include redevelopment.

12

SITE Centers Corp.

Leasing Summary

At pro rata share except for count |  |  |  |  |
Leasing Activity |  |  |  |  |  |  |  |  |  |  |
| Comparable Pool |  | Total Pool
|  |  |  | Leasing Spreads |  |  |  |  |  |
| Count | GLA | ABR PSF | Cash | Straight-lined | Term |  | Count | GLA | ABR PSF | Term
New Leases |  |  |  |  |  |  |  |  |  |  |
2Q24 | 11 | 61,087 | $29.02 | 44.2% | 50.6% | 9.8 |  | 22 | 91,939 | $32.47 | 9.4
1Q24 | 10 | 17,120 | $37.38 | 11.5% | 26.9% | 8.3 |  | 15 | 69,438 | $26.28 | 11.0
4Q23 | 9 | 64,639 | $17.81 | 9.2% | 17.3% | 9.5 |  | 21 | 106,733 | $21.62 | 9.3
3Q23 | 14 | 157,937 | $20.76 | 58.2% | 73.0% | 9.8 |  | 26 | 205,775 | $22.22 | 9.9
| 44 | 300,783 | $22.75 | 38.8% | 50.1% | 9.7 |  | 84 | 473,885 | $24.67 | 9.9
Renewals |  |  |  |  |  |  |  |  |  |  |
2Q24 | 72 | 646,793 | $19.64 | 9.1% | 14.8% | 5.6 |  | 72 | 646,793 | $19.64 | 5.6
1Q24 | 84 | 576,746 | $19.77 | 8.0% | 12.4% | 5.3 |  | 84 | 576,746 | $19.77 | 5.3
4Q23 | 68 | 383,399 | $23.73 | 3.1% | 9.0% | 5.1 |  | 68 | 383,399 | $23.73 | 5.1
3Q23 | 93 | 1,027,931 | $17.63 | 6.6% | 10.2% | 5.7 |  | 93 | 1,027,931 | $17.63 | 5.7
| 317 | 2,634,869 | $19.48 | 6.9% | 11.6% | 5.5 |  | 317 | 2,634,869 | $19.48 | 5.5
New + Renewals |  |  |  |  |  |  |  |  |  |  |
2Q24 | 83 | 707,880 | $20.45 | 12.4% | 18.4% | 6.0 |  | 94 | 738,732 | $21.24 | 6.1
1Q24 | 94 | 593,866 | $20.28 | 8.2% | 13.1% | 5.4 |  | 99 | 646,184 | $20.47 | 5.9
4Q23 | 77 | 448,038 | $22.88 | 3.8% | 9.9% | 5.7 |  | 89 | 490,132 | $23.27 | 6.0
3Q23 | 107 | 1,185,868 | $18.05 | 12.2% | 16.9% | 6.2 |  | 119 | 1,233,706 | $18.39 | 6.4
| 361 | 2,935,652 | $19.82 | 9.9% | 15.2% | 5.9 |  | 401 | 3,108,754 | $20.27 | 6.2

Net Effective Rents |  |  |  |  |  |  |  |  |
|  |  | Capex PSF | NER |  | % of GLA
| GLA | ABR PSF | TA | LL Work | LC | Total | PSF | Term | >10K SF | <10K SF
New Leases |  |  |  |  |  |  |  |  |  |
2Q24 | 84,271 | $32.78 | $3.66 | $1.28 | $1.62 | $6.56 | $26.22 | 9.4 | 27% | 73%
1Q24 | 47,281 | $29.17 | $3.59 | $0.03 | $1.31 | $4.93 | $24.24 | 9.2 | 61% | 39%
4Q23 | 94,689 | $22.60 | $1.68 | $2.59 | $1.02 | $5.29 | $17.31 | 9.3 | 61% | 39%
3Q23 | 182,231 | $22.90 | $1.99 | $0.60 | $0.81 | $3.40 | $19.50 | 9.8 | 80% | 20%
| 408,472 | $25.59 | $2.44 | $1.12 | $1.08 | $4.64 | $20.95 | 9.5 | 63% | 37%
Renewals |  |  |  |  |  |  |  |  |  |
2Q24 | 646,793 | $20.23 | $0.01 | $0.02 | $0.00 | $0.03 | $20.20 | 5.6 | 81% | 19%
1Q24 | 576,746 | $20.26 | $0.10 | $0.00 | $0.00 | $0.10 | $20.16 | 5.3 | 72% | 28%
4Q23 | 383,399 | $24.19 | $0.03 | $0.00 | $0.01 | $0.04 | $24.15 | 5.1 | 66% | 34%
3Q23 | 1,027,931 | $17.90 | $0.12 | $0.00 | $0.00 | $0.12 | $17.78 | 5.7 | 81% | 19%
| 2,634,869 | $19.90 | $0.08 | $0.00 | $0.00 | $0.08 | $19.82 | 5.5 | 77% | 23%
New + Renewals |  |  |  |  |  |  |  |  |
2Q24 | 731,064 | $21.67 | $0.66 | $0.24 | $0.29 | $1.19 | $20.48 | 6.1 | 74% | 26%
1Q24 | 624,027 | $20.93 | $0.54 | $0.00 | $0.17 | $0.71 | $20.22 | 5.6 | 72% | 28%
4Q23 | 478,088 | $23.88 | $0.54 | $0.80 | $0.32 | $1.66 | $22.22 | 5.9 | 65% | 35%
3Q23 | 1,210,162 | $18.65 | $0.56 | $0.14 | $0.19 | $0.89 | $17.76 | 6.3 | 81% | 19%
| 3,043,341 | $20.67 | $0.58 | $0.24 | $0.23 | $1.05 | $19.62 | 6.0 | 75% | 25%
Note: ABR PSF represents year one base rent for leasing spreads and the average rent for the initial term for net effective rent. Term is weighted average in years. New Leases exclude leases at redevelopment properties and first generation space.

13

SITE Centers Corp.

Leasing Summary – Curbline Properties

Leasing Activity |  |  |  |  |  |  |  |  |  |  |
| Comparable Pool |  | Total Pool
|  |  |  | Leasing Spreads |  |  |  |  |  |
| Count | GLA | ABR PSF | Cash | Straight-lined | Term |  | Count | GLA | ABR PSF | Term
New Leases |  |  |  |  |  |  |  |  |  |  |
2Q24 | 5 | 15,988 | $47.07 | 64.5% | 97.3% | 11.3 |  | 9 | 30,991 | $47.99 | 10.7
1Q24 | 3 | 5,916 | $35.73 | 4.9% | 21.8% | 8.7 |  | 5 | 28,073 | $26.98 | 13.6
4Q23 | 5 | 15,435 | $34.14 | 2.9% | 27.3% | 8.0 |  | 7 | 18,404 | $36.14 | 8.1
3Q23 | 3 | 3,800 | $36.47 | 0.0% | 9.3% | 5.0 |  | 5 | 8,723 | $55.19 | 11.7
| 16 | 41,139 | $39.61 | 24.4% | 49.2% | 9.1 |  | 26 | 86,191 | $39.35 | 11.2
Renewals |  |  |  |  |  |  |  |  |  |  |
2Q24 | 23 | 83,327 | $35.39 | 14.7% | 28.7% | 7.4 |  | 23 | 83,327 | $35.39 | 7.4
1Q24 | 24 | 57,860 | $42.36 | 7.0% | 16.8% | 5.2 |  | 24 | 57,860 | $42.36 | 5.2
4Q23 | 27 | 58,130 | $40.92 | 8.8% | 18.9% | 5.1 |  | 27 | 58,130 | $40.92 | 5.1
3Q23 | 17 | 59,664 | $32.04 | 14.9% | 24.6% | 5.7 |  | 17 | 59,664 | $32.04 | 5.2
| 91 | 258,981 | $37.42 | 11.3% | 22.4% | 6.0 |  | 91 | 258,981 | $37.42 | 6.0
New + Renewals |  |  |  |  |  |  |  |  |  |  |
2Q24 | 28 | 99,315 | $37.27 | 22.3% | 38.9% | 8.1 |  | 32 | 114,318 | $38.81 | 8.3
1Q24 | 27 | 63,776 | $41.75 | 6.9% | 17.2% | 5.5 |  | 29 | 85,933 | $37.34 | 8.0
4Q23 | 32 | 73,565 | $39.50 | 7.7% | 20.4% | 5.7 |  | 34 | 76,534 | $39.77 | 5.8
3Q23 | 20 | 63,464 | $32.31 | 13.8% | 23.4% | 5.6 |  | 22 | 68,387 | $35.00 | 6.4
| 107 | 300,120 | $37.72 | 13.0% | 25.7% | 6.4 |  | 117 | 345,172 | $37.90 | 7.3

Net Effective Rents |  |  |  |  |  |  |  |  |
|  |  | Capex PSF | NER |  | % of GLA
| GLA | ABR PSF | TA | LL Work | LC | Total | PSF | Term | >10K SF | <10K SF
New Leases |  |  |  |  |  |  |  |  |  |
2Q24 | 23,323 | $49.20 | $1.87 | $3.14 | $2.12 | $7.13 | $42.07 | 10.9 | 0% | 100%
1Q24 | 5,916 | $39.82 | $2.22 | $0.00 | $2.45 | $4.67 | $35.15 | 8.7 | 0% | 100%
4Q23 | 16,904 | $37.90 | $3.00 | $0.52 | $1.68 | $5.20 | $32.70 | 7.9 | 0% | 100%
3Q23 | 4,844 | $44.91 | $4.27 | $0.62 | $2.40 | $7.29 | $37.62 | 5.0 | 0% | 100%
| 50,987 | $43.96 | $2.36 | $1.91 | $2.04 | $6.31 | $37.65 | 9.1 | 0% | 100%
Renewals |  |  |  |  |  |  |  |  |  |
2Q24 | 83,327 | $38.12 | $0.00 | $0.00 | $0.00 | $0.00 | $38.12 | 7.4 | 37% | 63%
1Q24 | 57,860 | $44.16 | $0.00 | $0.00 | $0.00 | $0.00 | $44.16 | 5.2 | 0% | 100%
4Q23 | 58,130 | $42.72 | $0.21 | $0.01 | $0.05 | $0.27 | $42.45 | 5.1 | 0% | 100%
3Q23 | 59,664 | $33.30 | $0.00 | $0.00 | $0.00 | $0.00 | $33.30 | 5.7 | 0% | 100%
| 258,981 | $39.39 | $0.04 | $0.00 | $0.01 | $0.05 | $39.34 | 6.0 | 12% | 88%
New + Renewals |  |  |  |  |  |  |  |  |
2Q24 | 106,650 | $40.55 | $0.54 | $0.91 | $0.62 | $2.07 | $38.48 | 8.2 | 29% | 71%
1Q24 | 63,776 | $43.76 | $0.32 | $0.00 | $0.36 | $0.68 | $43.08 | 5.5 | 0% | 100%
4Q23 | 75,034 | $41.63 | $1.07 | $0.16 | $0.55 | $1.78 | $39.85 | 5.7 | 0% | 100%
3Q23 | 64,508 | $34.17 | $0.28 | $0.04 | $0.16 | $0.48 | $33.69 | 5.6 | 0% | 100%
| 309,968 | $40.14 | $0.57 | $0.44 | $0.48 | $1.49 | $38.65 | 6.5 | 10% | 90%
Note: ABR PSF represents year one base rent for leasing spreads and the average rent for the initial term for net effective rent. Term is weighted average in years. New Leases exclude leases at redevelopment properties and first generation space.

14

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 |  | 35 | 0.4% | $526 | 0.4% |  | $15.03 |  | 12 |  | 24 | 0.6% | $772 | 0.5% |  | $32.17 |  | 14 |  | 59 | 0.4% | $1,298 | 0.5% |  | $22.00
2024 | 3 |  | 41 | 0.4% | 1,047 | 0.8% |  | $25.54 |  | 56 |  | 121 | 2.8% | 3,415 | 2.4% |  | $28.22 |  | 59 |  | 162 | 1.2% | 4,462 | 1.6% |  | $27.54
2025 | 38 |  | 893 | 9.5% | 14,262 | 10.3% |  | $15.97 |  | 184 |  | 487 | 11.3% | 14,353 | 10.0% |  | $29.47 |  | 222 |  | 1,380 | 10.1% | 28,615 | 10.2% |  | $20.74
2026 | 44 |  | 803 | 8.6% | 9,187 | 6.7% |  | $11.44 |  | 203 |  | 484 | 11.2% | 15,471 | 10.8% |  | $31.96 |  | 247 |  | 1,287 | 9.4% | 24,658 | 8.8% |  | $19.16
2027 | 59 |  | 1,502 | 16.1% | 24,242 | 17.6% |  | $16.14 |  | 211 |  | 556 | 12.9% | 18,758 | 13.1% |  | $33.74 |  | 270 |  | 2,058 | 15.0% | 43,000 | 15.3% |  | $20.89
2028 | 71 |  | 1,839 | 19.7% | 25,844 | 18.7% |  | $14.05 |  | 257 |  | 648 | 15.0% | 22,748 | 15.8% |  | $35.10 |  | 328 |  | 2,487 | 18.2% | 48,592 | 17.3% |  | $19.54
2029 | 53 |  | 1,289 | 13.8% | 18,607 | 13.5% |  | $14.44 |  | 192 |  | 486 | 11.2% | 16,569 | 11.5% |  | $34.09 |  | 245 |  | 1,775 | 13.0% | 35,176 | 12.5% |  | $19.82
2030 | 30 |  | 733 | 7.8% | 10,705 | 7.8% |  | $14.60 |  | 106 |  | 278 | 6.4% | 9,729 | 6.8% |  | $35.00 |  | 136 |  | 1,011 | 7.4% | 20,434 | 7.3% |  | $20.21
2031 | 19 |  | 524 | 5.6% | 7,051 | 5.1% |  | $13.46 |  | 77 |  | 210 | 4.9% | 6,615 | 4.6% |  | $31.50 |  | 96 |  | 734 | 5.4% | 13,666 | 4.9% |  | $18.62
2032 | 17 |  | 374 | 4.0% | 5,738 | 4.2% |  | $15.34 |  | 126 |  | 367 | 8.5% | 12,223 | 8.5% |  | $33.31 |  | 143 |  | 741 | 5.4% | 17,961 | 6.4% |  | $24.24
2033 | 17 |  | 325 | 3.5% | 4,927 | 3.6% |  | $15.16 |  | 118 |  | 346 | 8.0% | 11,987 | 8.3% |  | $34.64 |  | 135 |  | 671 | 4.9% | 16,914 | 6.0% |  | $25.21
Thereafter | 29 |  | 998 | 10.7% | 15,846 | 11.5% |  | $15.88 |  | 107 |  | 319 | 7.4% | 11,039 | 7.7% |  | $34.61 |  | 136 |  | 1,317 | 9.6% | 26,885 | 9.5% |  | $20.41
Total | 382 |  | 9,356 | 100.0% | $137,982 | 100.0% |  | $14.75 |  | 1,649 |  | 4,326 | 100.0% | $143,679 | 100.0% |  | $33.21 |  | 2,031 |  | 13,682 | 100.0% | $281,661 | 100.0% |  | $20.59
Signed Not Open | 15 |  | 273 |  | $4,648 |  |  | $17.03 |  | 51 |  | 133 |  | $5,575 |  |  | $41.92 |  | 66 |  | 406 |  | $10,223 |  |  | $25.18
Vacant | 20 |  | 561 |  |  |  |  |  |  | 199 |  | 466 |  |  |  |  |  |  | 219 |  | 1,027 |  |  |  |  |
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 | 2 |  | 35 | 0.4% | $526 | 0.4% |  | $15.03 |  | 12 |  | 23 | 0.5% | $772 | 0.5% |  | $33.57 |  | 14 |  | 58 | 0.4% | $1,298 | 0.5% |  | $22.38
2024 | 2 |  | 16 | 0.2% | 411 | 0.3% |  | $25.69 |  | 41 |  | 84 | 1.9% | 2,486 | 1.7% |  | $29.60 |  | 43 |  | 100 | 0.7% | 2,897 | 1.0% |  | $28.97
2025 | 5 |  | 68 | 0.7% | 1,471 | 1.1% |  | $21.63 |  | 112 |  | 251 | 5.8% | 8,038 | 5.6% |  | $32.02 |  | 117 |  | 319 | 2.3% | 9,509 | 3.4% |  | $29.81
2026 | 4 |  | 30 | 0.3% | 401 | 0.3% |  | $13.37 |  | 105 |  | 223 | 5.2% | 7,119 | 5.0% |  | $31.92 |  | 109 |  | 253 | 1.8% | 7,520 | 2.7% |  | $29.72
2027 | 14 |  | 221 | 2.4% | 4,324 | 3.1% |  | $19.57 |  | 94 |  | 199 | 4.6% | 6,711 | 4.7% |  | $33.72 |  | 108 |  | 420 | 3.1% | 11,035 | 3.9% |  | $26.27
2028 | 13 |  | 212 | 2.3% | 3,715 | 2.7% |  | $17.52 |  | 143 |  | 336 | 7.8% | 11,694 | 8.1% |  | $34.80 |  | 156 |  | 548 | 4.0% | 15,409 | 5.5% |  | $28.12
2029 | 5 |  | 104 | 1.1% | 1,962 | 1.4% |  | $18.87 |  | 124 |  | 253 | 5.8% | 8,682 | 6.0% |  | $34.32 |  | 129 |  | 357 | 2.6% | 10,644 | 3.8% |  | $29.82
2030 | 12 |  | 258 | 2.8% | 4,411 | 3.2% |  | $17.10 |  | 84 |  | 187 | 4.3% | 5,759 | 4.0% |  | $30.80 |  | 96 |  | 445 | 3.3% | 10,170 | 3.6% |  | $22.85
2031 | 15 |  | 190 | 2.0% | 3,217 | 2.3% |  | $16.93 |  | 77 |  | 153 | 3.5% | 4,833 | 3.4% |  | $31.59 |  | 92 |  | 343 | 2.5% | 8,050 | 2.9% |  | $23.47
2032 | 10 |  | 212 | 2.3% | 3,860 | 2.8% |  | $18.21 |  | 96 |  | 240 | 5.5% | 8,157 | 5.7% |  | $33.99 |  | 106 |  | 452 | 3.3% | 12,017 | 4.3% |  | $26.59
2033 | 20 |  | 357 | 3.8% | 6,027 | 4.4% |  | $16.88 |  | 92 |  | 236 | 5.5% | 7,953 | 5.5% |  | $33.70 |  | 112 |  | 593 | 4.3% | 13,980 | 5.0% |  | $23.58
Thereafter | 280 |  | 7,653 | 81.8% | 107,657 | 78.0% |  | $14.07 |  | 669 |  | 2,141 | 49.5% | 71,475 | 49.7% |  | $33.38 |  | 949 |  | 9,794 | 71.6% | 179,132 | 63.6% |  | $18.29
Total | 382 |  | 9,356 | 100.0% | $137,982 | 100.0% |  | $14.75 |  | 1,649 |  | 4,326 | 100.0% | $143,679 | 100.0% |  | $33.21 |  | 2,031 |  | 13,682 | 100.0% | $281,661 | 100.0% |  | $20.59
Note: Includes ground leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

15

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) | 26 | 8 | 34 | 10,810 | 3.8% | 12,722 | 764 | 5.1% | 928 | A/A2/NR
2 |  | PetSmart | 16 | 3 | 19 | 6,177 | 2.2% | 6,897 | 362 | 2.4% | 405 | B+/B1/NR
3 |  | Dick's Sporting Goods (2) | 7 | 4 | 11 | 6,048 | 2.1% | 7,773 | 354 | 2.4% | 501 | BBB/Baa3/NR
4 |  | Ross Stores | 14 | 6 | 20 | 6,004 | 2.1% | 7,786 | 445 | 3.0% | 590 | BBB+/A2/NR
5 |  | Burlington | 9 | 1 | 10 | 5,348 | 1.9% | 5,732 | 338 | 2.2% | 371 | BB+/NR/NR
6 |  | Kroger (3) | 5 | 0 | 5 | 5,188 | 1.8% | 5,188 | 285 | 1.9% | 285 | BBB/Baa1/NR
7 |  | Michaels | 14 | 4 | 18 | 4,554 | 1.6% | 5,534 | 344 | 2.3% | 421 | B-/B3/NR
8 |  | Whole Foods | 2 | 0 | 2 | 3,910 | 1.4% | 3,910 | 99 | 0.7% | 99 | AA/A1/AA-
9 |  | Ulta | 14 | 5 | 19 | 3,807 | 1.4% | 4,695 | 153 | 1.0% | 197 | NR
10 |  | Nordstrom Rack | 5 | 0 | 5 | 3,747 | 1.3% | 3,747 | 186 | 1.2% | 186 | BB+/Ba2/BB
11 |  | Five Below | 17 | 5 | 22 | 3,304 | 1.2% | 3,953 | 163 | 1.1% | 198 | NR
12 |  | Best Buy | 4 | 3 | 7 | 3,267 | 1.2% | 4,837 | 196 | 1.3% | 309 | BBB+/A3/NR
13 |  | AMC Theatres | 1 | 3 | 4 | 2,838 | 1.0% | 6,912 | 130 | 0.9% | 315 | CCC+/Caa2/NR
14 |  | Gap (4) | 9 | 7 | 16 | 2,698 | 1.0% | 3,933 | 166 | 1.1% | 249 | BB/Ba3/NR
15 |  | Starbucks | 23 | 0 | 23 | 2,480 | 0.9% | 2,480 | 43 | 0.3% | 43 | BBB+/Baa1/NR
16 |  | Barnes & Noble | 5 | 1 | 6 | 2,333 | 0.8% | 2,653 | 116 | 0.8% | 132 | NR
17 |  | Party City | 9 | 2 | 11 | 2,222 | 0.8% | 2,546 | 117 | 0.8% | 139 | NR
18 |  | Publix | 3 | 1 | 4 | 2,211 | 0.8% | 2,570 | 175 | 1.2% | 220 | NR
19 |  | Petco | 7 | 3 | 10 | 2,179 | 0.8% | 2,819 | 103 | 0.7% | 139 | B/B3/NR
20 |  | Total Wine & More | 3 | 0 | 3 | 2,034 | 0.7% | 2,034 | 94 | 0.6% | 94 | NR
21 |  | JOANN | 5 | 3 | 8 | 2,016 | 0.7% | 2,618 | 159 | 1.1% | 220 | NR
22 |  | Macy's (5) | 4 | 0 | 4 | 1,904 | 0.7% | 1,904 | 105 | 0.7% | 105 | BB+/Ba1/BBB-
23 |  | Kohl's | 2 | 3 | 5 | 1,883 | 0.7% | 3,527 | 220 | 1.5% | 409 | BB/Ba2/BB
24 |  | AT&T | 17 | 4 | 21 | 1,847 | 0.7% | 2,052 | 47 | 0.3% | 56 | BBB/Baa2/BBB+
25 |  | Dollar Tree | 14 | 2 | 16 | 1,846 | 0.7% | 2,008 | 154 | 1.0% | 172 | BBB/Baa2/NR
26 |  | Designer Brands Inc. (DSW) | 5 | 1 | 6 | 1,825 | 0.6% | 2,110 | 100 | 0.7% | 116 | NR
27 |  | Office Depot (6) | 5 | 1 | 6 | 1,747 | 0.6% | 1,983 | 102 | 0.7% | 121 | NR
28 |  | Cost Plus | 4 | 1 | 5 | 1,739 | 0.6% | 1,974 | 79 | 0.5% | 94 | NR
29 |  | Target | 2 | 0 | 2 | 1,610 | 0.6% | 1,610 | 295 | 2.0% | 295 | A/A2/A
30 |  | LA Fitness | 2 | 0 | 2 | 1,603 | 0.6% | 1,603 | 91 | 0.6% | 91 | B/B3/NR
31 |  | Darden (7) | 8 | 0 | 8 | 1,602 | 0.6% | 1,602 | 58 | 0.4% | 58 | BBB/Baa2/BBB
32 |  | Verizon | 10 | 2 | 12 | 1,586 | 0.6% | 1,926 | 35 | 0.2% | 42 | BBB+/Baa1/A-
33 |  | Franchise Group (8) | 8 | 1 | 9 | 1,567 | 0.6% | 1,662 | 95 | 0.6% | 98 | B-/B3/NR
34 |  | JPMorgan Chase | 8 | 0 | 8 | 1,542 | 0.5% | 1,542 | 36 | 0.2% | 36 | A-/A2/AA-
35 |  | JAB Holding (9) | 10 | 1 | 11 | 1,505 | 0.5% | 1,590 | 48 | 0.3% | 51 | NR/Baa1/NR
36 |  | Xsport Fitness | 1 | 0 | 1 | 1,502 | 0.5% | 1,502 | 45 | 0.3% | 45 | NR
37 |  | Inspire Brands (10) | 16 | 0 | 16 | 1,499 | 0.5% | 1,499 | 38 | 0.3% | 38 | B+/NR/NR
38 |  | Tailored Brands (11) | 8 | 2 | 10 | 1,481 | 0.5% | 1,634 | 66 | 0.4% | 74 | B/NR/NR
39 |  | Mattress Firm | 9 | 2 | 11 | 1,413 | 0.5% | 1,601 | 42 | 0.3% | 48 | NR
40 |  | Brinker International (Chili's) | 9 | 0 | 9 | 1,362 | 0.5% | 1,362 | 52 | 0.3% | 52 | BB-/Ba3/NR
41 |  | America's Best Contacts | 12 | 3 | 15 | 1,359 | 0.5% | 1,582 | 44 | 0.3% | 52 | NR
42 |  | Bath & Body Works | 10 | 3 | 13 | 1,359 | 0.5% | 1,587 | 40 | 0.3% | 48 | BB/Ba2/NR
43 |  | Shoprite | 1 | 0 | 1 | 1,303 | 0.5% | 1,303 | 65 | 0.4% | 65 | NR
44 |  | Cinemark | 1 | 1 | 2 | 1,300 | 0.5% | 1,300 | 100 | 0.7% | 124 | BB-/NR/B+
45 |  | 24 Hour Fitness | 2 | 0 | 2 | 1,298 | 0.5% | 1,298 | 76 | 0.5% | 76 | CCC-/Ca/NR
46 |  | Cineworld (Regal Cinemas) | 3 | 0 | 3 | 1,215 | 0.4% | 1,215 | 138 | 0.9% | 138 | NR
47 |  | Caleres Inc. | 7 | 1 | 8 | 1,200 | 0.4% | 1,381 | 56 | 0.4% | 65 | BB/NR/NR
48 |  | Carter's Childrenswear | 9 | 1 | 10 | 1,169 | 0.4% | 1,258 | 37 | 0.2% | 40 | BB+/NR/NR
49 |  | Staples | 3 | 1 | 4 | 1,133 | 0.4% | 1,360 | 67 | 0.4% | 83 | B-/B3/NR
50 |  | At Home | 1 | 0 | 1 | 1,110 | 0.4% | 1,110 | 143 | 1.0% | 143 | CCC-/Ca/NR
|  |  | 389 | 89 | 478 | $126,684 | 45.0% | $149,424 | 7,266 | 48.3% | 8,876 |
|  | Total Portfolio |  |  |  | $281,661 | 100.0% | $324,760 | 15,051 | 100.0% | 17,947 |
(1) T.J. Maxx (7) / Marshalls (11) / HomeGoods (10) / Sierra Trading (2) / Combo Store (1) / HomeSense (3) | (7) Longhorn Steakhouse (5) / Olive Garden (3)
(2) Dick's Sporting Goods (10) / Golf Galaxy (1) |  | (8) Vitamin Shoppe (4) / Pet Supplies Plus (3) / American Freight (2)
(3) Kroger (1) / Harris Teeter (1) / King Soopers (1) / Mariano's (1) / Lucky's (1) |  | (9) Panera (10) / Bruegger's (1)
(4) Gap (2) / Old Navy (13) / Banana Republic (1) |  | (10) Dunkin (7) / Buffalo Wild Wings (6) / Jimmy John's (2) / Baskin Robbins (1)
(5) Macy's Furniture (1) / Market by Macy's (1) / Bloomingdale's Outlet (1) / Bluemercury (1) |  | (11) Men's Wearhouse (8) / Jos. A. Bank (1) / K&G Fashion Superstore (1)
(6) Office Depot (4) / OfficeMax (2) |  |
Note: All data as of June 30, 2024

16

SITE Centers Corp.

Redevelo pment Pipeline (1)

$ in thousands |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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
Shops at Tanasbourne | Portland, OR | 100% |  |  |  | 2,145 |  | 1,771 |  | 374 |  | 0 |  | 1,771 |  | 1Q25 |  | 2Q26 |  | Fast Casual Restaurant
Shops at Boca Center | Boca Raton, FL | 100% |  |  |  | 5,273 |  | 708 |  | 4,565 |  | 0 |  | 708 |  | 3Q26 |  | 1Q27 |  | Starbucks, Veterinary Emergency Group
Total Redevelopment Pipeline |  |  | 11% |  | $7,418 |  | $2,479 |  | $4,939 |  | $0 |  | $2,479 |  |  |  |  |  |
Other (2) |  |  |  |  | 0 |  | 27,665 |  | 0 |  | 0 |  | 27,665 |  |  |  |  |  |
Undeveloped land (3) |  |  |  |  | 0 |  | 4,161 |  | 0 |  | 0 |  | 4,161 |  |  |  |  |  |
Total Redevelopment Costs |  |  |  |  | $7,418 |  | $34,305 |  | $4,939 |  | $0 |  | $34,305 |  |  |  |  |  |
(1) Projects included in SSNOI.
(2) Includes predevelopment and retenanting expenditures.
(3) Balance excludes owned land adjacent to existing centers with an estimated value of $9 million and the net book basis of the Company's Beachwood, OH headquarters office buildings of $24 million (non-income producing portion). The income producing portion of the Company's headquarters buildings generated $767 thousand of NOI in 1H24.

17

SITE Centers Corp.

Transa ctions

$ and GLA in thousands |  |  |  |  |  |  |  |
Acquisitions |  | SITE |  | Owned |  | Price
|  | Property Name | MSA | Own % |  | GLA |  | At 100% |  | At Share
02/02/24 |  | Meadowmont Village-Outparcels & Parcel K | Raleigh, NC | 20% |  | 14 |  | $8,100 |  | $1,620
02/14/24 |  | Grove at Harper's Preserve | Houston-The Woodlands-Sugar Land, TX | 100% |  | 22 |  | 10,650 |  | 10,650
03/29/24 |  | Shops at Gilbert Crossroads | Phoenix-Mesa-Scottsdale, AZ | 100% |  | 15 |  | 8,460 |  | 8,460
|  |  | 1Q 2024 Total |  |  | 51 |  | $27,210 |  | $20,730
04/17/24 |  | Collection at Brandon Boulevard- Ground Lease | Tampa-St. Petersburg-Clearwater, FL | 100% |  | 0 |  | $1,000 |  | $1,000
05/24/24 |  | Wilmette Center | Chicago-Naperville-Elgin, IL-IN-WI | 100% |  | 9 |  | 2,850 |  | 2,850
05/30/24 |  | Meadowmont Village | Raleigh, NC | 100% |  | 199 |  | 44,250 |  | 35,400
05/31/24 |  | Sunrise Plaza | Sebastian-Vero Beach-West Vero Corridor, FL | 100% |  | 17 |  | 5,500 |  | 5,500
06/13/24 |  | Red Mountain Corner | Phoenix-Mesa-Scottsdale, AZ | 100% |  | 6 |  | 2,100 |  | 2,100
06/14/24 |  | Roswell Market Center | Atlanta-Sandy Springs-Roswell, GA | 100% |  | 82 |  | 17,750 |  | 17,750
|  |  | 2Q 2024 Total |  |  | 313 |  | $73,450 |  | $64,600
07/02/24 |  | Crocker Commons | Cleveland-Elyria, OH | 100% |  | 29 |  | $18,500 |  | $18,500
07/26/24 |  | Maple Corner | Nashville-Davidson-Murfreesboro-Franklin, TN | 100% |  | 20 |  | 8,250 |  | 8,250
|  |  | 3Q 2024 QTD |  |  | 49 |  | $26,750 |  | $26,750
|  |  | Total 2024 YTD |  |  | 413 |  | $127,410 |  | $112,080
Dispositions |  | SITE |  | Owned |  | Price
|  | Property Name | MSA | Own % |  | GLA |  | At 100% |  | At Share
01/22/24 |  | The Marketplace at Highland Village | Dallas-Fort Worth-Arlington, TX | 100% |  | 207 |  | $42,100 |  | $42,100
01/26/24 |  | Casselberry Commons (1) | Orlando-Kissimmee-Sanford, FL | 100% |  | 237 |  | 40,300 |  | 40,300
03/01/24 |  | Chapel Hills East | Denver-Aurora-Lakewood, CO | 100% |  | 225 |  | 37,000 |  | 37,000
|  |  | 1Q 2024 Total |  |  | 669 |  | $119,400 |  | $119,400
04/17/24 |  | Cool Springs Pointe | Nashville-Davidson-Murfreesboro-Franklin, TN | 100% |  | 198 |  | $34,550 |  | $34,550
04/25/24 |  | Market Square (2) | Atlanta-Sandy Springs-Roswell, GA | 100% |  | 117 |  | 15,600 |  | 15,600
06/05/24 |  | Hilltop Plaza | San Francisco-Oakland-Hayward, CA | 20% |  | 246 |  | 36,500 |  | 7,300
06/07/24 |  | Johns Creek Town Center | Atlanta-Sandy Springs-Roswell, GA | 100% |  | 303 |  | 58,850 |  | 58,850
06/13/24 |  | Six Property Portfolio (3) | Various | 100% |  | 2,368 |  | 495,000 |  | 495,000
06/24/24 |  | Carillon Place (4) | Naples-Immokalee-Marco Island, FL | 100% |  | 250 |  | 54,700 |  | 54,700
06/27/24 |  | The Hub | New York-Newark-Jersey City, NY-NJ-PA | 100% |  | 249 |  | 41,000 |  | 41,000
06/28/24 |  | Cumming Marketplace-Lowe's Parcel | Atlanta-Sandy Springs-Roswell, GA | 100% |  | 135 |  | 17,200 |  | 17,200
06/28/24 |  | Belgate Shopping Center | Charlotte-Concord-Gastonia, NC-SC | 100% |  | 269 |  | 47,250 |  | 47,250
|  |  | 2Q 2024 Total |  |  | 4,135 |  | $800,650 |  | $771,450
07/19/24 |  | Two Property Portfolio (5) | Atlanta-Sandy Springs-Roswell, GA | 100% |  | 406 |  | $67,530 |  | $67,530
|  |  | 3Q 2024 QTD |  |  | 406 |  | $67,530 |  | $67,530
|  |  | Total 2024 YTD |  |  | 5,210 |  | $987,580 |  | $958,380
(1) Excludes 8K SF retained by SITE Centers (Shops at Casselberry). |  |  |  |  |  |  |
(2) Excludes 9K SF retained by SITE Centers (Plaza at Market Square). |  |  |  |  |  |  |
(3) Includes Arrowhead Crossing, Easton Market, Kenwood Square, Polaris Towne Center, Tanasbourne Town Center, and The Fountains. Excludes SF retained by SITE Centers (71K SF Shops on Polaris, 8K SF Shops at Tanasbourne, and 14K SF Shops at the Fountains).
(4) Excludes 15K SF retained by Site Centers (Shops at Carillon). |  |  |  |  |  |  |
(5) Includes Cumming Marketplace and Cumming Towne Center. Excludes SF retained by SITE Centers (44K SF Marketplace Plaza South and 37K SF Marketplace Plaza North).

18

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 | $0 | $0 | - | $0 | $0 | - | $0 | -
Unsecured Term Loan | 200,000 | 200,000 | 3.99% | 0 | 0 | - | 200,000 | 3.99%
Unsecured Public Debt | 1,217,893 | 1,217,893 | 4.36% | 0 | 0 | - | 1,217,893 | 4.36%
Fixed Rate Mortgage Loans | 100,000 | 100,000 | 6.99% | 380,600 | 76,120 | 7.48% | 176,120 | 7.20%
Variable Rate Mortgage Loans | 0 | 0 | - | 61,668 | 30,680 | 3.83% | 30,680 | 3.83%
Subtotal | $1,517,893 | $1,517,893 | 4.48% | $442,268 | $106,800 | 6.43% | $1,624,693 | 4.61%
Fair Market Value Adjustment | 0 | 0 | 0 | 0 | 0 | - | 0 | -
Unamortized Loan Costs, Net | (4,262) | (4,262) | 0 | (17,141) | (3,458) | - | (7,720) | -
Total | $1,513,631 | $1,513,631 | 4.48% | $425,127 | $103,342 | 6.43% | $1,616,973 | 4.61%

| Consolidated Maturities |  | Unconsolidated | Total |  | Total |
Maturity Schedule(1) | Secured | Unsecured |  | Maturities | 100% |  | SITE Share | Interest Rate
2024 | $138 | $0 |  | $499 | $637 |  | $386 | -
2025 | 1,627 | 400,376 |  | 1,046 | 403,049 |  | 402,523 | 3.79%
2026 | 1,740 | 370,143 |  | 60,123 | 432,006 |  | 401,794 | 4.38%
2027 | 1,862 | 648,300 |  | 0 | 650,162 |  | 650,162 | 4.55%
2028 | 94,633 | 0 |  | 0 | 94,633 |  | 94,633 | 6.99%
2029 | 0 | 0 |  | 380,600 | 380,600 |  | 76,120 | 7.48%
2030 | 0 | 0 |  | 0 | 0 |  | 0 | -
2031 | 0 | 0 |  | 0 | 0 |  | 0 | -
2032 | 0 | 0 |  | 0 | 0 |  | 0 | -
2033 and beyond | 0 | 0 |  | 0 | 0 |  | 0 | -
Unsecured debt discount | 0 | (926) |  | 0 | (926) |  | (926) | -
Total | $100,000 | $1,417,893 |  | $442,268 | $1,960,161 |  | $1,624,693 | 4.61%
% of Total (at SITE share) | Consolidated | Interest Rate |  | Unconsolidated | Interest Rate |  | Total | Interest Rate
Fixed | 100.0% | 4.48% |  | 71.3% | 7.48% |  | 98.1% | 4.62%
Variable | 0.0% | 0.00% |  | 28.7% | 3.83% |  | 1.9% | 3.83%
(1) Includes Consolidated and Unconsolidated Debt and assumes borrower extension options are exercised. |
Note: Interest rate is GAAP at SITE Share. |

19

SITE Centers Corp.

Debt Detail

$ in thousands |  |  |  |
| Balance 100% | Balance SITE Share | Maturity Date | GAAP Interest Rate
Bank Debt |  |  |  |
Unsecured Term Loan ($200m)(1) | $200,000 | $200,000 | 06/27 | 3.99%
Unsecured Revolver ($950m) | 0 | 0 | 06/27 | SOFR + 95(2)
| $200,000 | $200,000 |  |
Unsecured Debt |  |  |  |
Unsecured Notes - 2025 | 400,206 | 400,206 | 02/25 | 3.79%
Unsecured Notes - 2026 | 369,626 | 369,626 | 02/26 | 4.43%
Unsecured Notes - 2027 | 448,061 | 448,061 | 06/27 | 4.80%
| $1,217,893 | $1,217,893 |  |
Mortgage Debt |  |  |  |
Deer Park Town Center, IL(3) | 61,668 | 30,680 | 12/26 | 3.83%
Nassau Park Pavilion, NJ | 100,000 | 100,000 | 11/28 | 6.99%
DTP Loan Pool (10 assets) | 380,600 | 76,120 | 01/29 | 7.48%
| $542,268 | $206,800 |  |
Consolidated & Unconsolidated Debt Subtotal | $1,960,161 | $1,624,693 |  |
FMV Adjustment – Assumed Debt | 0 | 0 |  |
Unamortized Loan Costs, Net | (21,403) | (7,720) |  |
Total Consolidated & Unconsolidated Debt | $1,938,758 | $1,616,973 |  |
Rate Type |  |  |  |
Fixed | $1,898,493 | $1,594,013 | 2.2 years | 4.62%
Variable | 61,668 | 30,680 | 2.4 years | 3.83%
| $1,960,161 | $1,624,693 | 2.2 years | 4.61%
Perpetual Preferred Stock |  |  |  |
Class A | 175,000 | 175,000 | N/A(4) | 6.38%
Note: Maturity dates assume all borrower extension options are exercised. GAAP interest rates shown as swapped or capped all-in interest rate where applicable.
(1) Fixed all-in swap rate through June 2027.
(2) Excludes loan fees and unamortized loan costs.
(3) 1.00% SOFR Interest Rate Cap through December 2024. Debt shown at share including promote.
(4) Redeemable at par as of June 2022.

20

SITE Centers Corp.

Debt/Adjust ed EBITDA

$ in thousands |  |
| Twelve months ended June 30, 2024 | Twelve months ended June 30, 2023
Consolidated |  |
Consolidated net income to SITE | $459,759 | $115,029
Interest expense | 78,498 | 81,369
Tax expense | 2,002 | 786
Depreciation and amortization | 183,336 | 214,703
EBITDA | 723,595 | 411,887
Impairment charges | 66,600 | 0
Gain on sale and change in control of interests | (2,669) | (4,004)
Gain on disposition of real estate, net | (483,873) | (42,372)
EBITDAre | 303,653 | 365,511
Separation and other charges | 2,873 | 2,928
Equity in net income of JVs | (679) | (32,319)
Loss on equity derivative instruments | 3,063 | 0
Gain on debt retirement | (1,037) | 0
Transaction, debt extinguishment and other | 20,088 | 1,790
JV OFFO (at SITE Share) | 7,597 | 9,410
Adjusted EBITDA (1) | 335,558 | 347,320
Consolidated debt-average | 1,654,462 | 1,831,098
Loan costs, net-average | 4,489 | 5,669
Face value adjustments-average | (254) | (736)
Cash and restricted cash-average | (607,085) | (34,886)
Average net effective debt | $1,051,612 | $1,801,145
Debt/Adjusted EBITDA – Consolidated (2) | 3.1x | 5.2x
Pro rata including JVs |  |
EBITDAre | 309,920 | 341,451
Adjusted EBITDA | 342,021 | 354,017
Consolidated net debt-average | 1,051,612 | 1,801,145
JV debt (at SITE Share)-average | 109,506 | 142,998
JV cash and restricted cash (at SITE Share)-average | (11,902) | (12,481)
Average net effective debt | $1,149,216 | $1,931,662
Debt/Adjusted EBITDA – Pro Rata (2) | 3.4x | 5.5x
(1) See definition in the Non-GAAP Measures section.
(2) Excludes perpetual preferred stock.

21

SITE Centers Corp.

Unconsolid ated Joint Ventures

$ and GLA in thousands |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Joint Venture |  | SITE Own % |  | Number of Properties |  | Owned GLA |  | Leased Rate |  | ABR |  | 2Q24 NOI at 100% (1) |  | Gross RE Assets |  | Debt Balance at 100% (2)
Chinese Institutional Investors DTP |  | 20% |  | 10 |  | 3,396 |  | 95.5% |  | $14.92 |  | $12,010 |  | $595,644 |  | $380,600
Prudential RVIP IIIB, Deer Park, IL (3) |  | 50% |  | 1 |  | 357 |  | 81.6% |  | $38.04 |  | 2,120 |  | 109,314 |  | 61,668
Total |  |  |  | 11 |  | 3,753 |  |  |  |  |  | $14,130 |  | $704,958 |  | $442,268
Property management fees |  |  |  |  |  |  |  |  |  |  |  | 701 | (1) |  |  |
NOI from assets sold |  |  |  |  |  |  |  |  |  |  |  | 812 |  |  |  |
Net operating income |  |  |  |  |  |  |  |  |  |  |  | $15,643 | (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 $17.1 million or $3.5 million at SITE's share.
(3) Ownership shown at share including promote.
(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.

22

SITE Centers Corp.

Unconsolidated Joint Ventures

Combined SITE JV Pro Rata Adjustments (1)
Income Statement Pro Rata Adjustments 2Q24 |  | Balance Sheet Pro Rata Adjustments 2Q24
Revenues: |  |  | Assets: |
Rental Income (2) | $5,097 |  | Land | $35,066
Other income (3) | 104 |  | Buildings | 121,906
| 5,201 |  | Improvements | 16,429
Expenses: |  |  |  | 173,401
Operating and maintenance | 779 |  | Depreciation | (51,427)
Real estate taxes | 632 |  |  | 121,974
| 1,411 |  | Construction in progress and land | 111
Net Operating Income | 3,790 |  | Real estate, net | 122,085
|  |  | Investment in JVs | 201
Other Income (expense): |  |  | Cash and restricted cash | 11,303
Fee income | (342) |  | Receivables, net | 2,252
Interest expense | (1,758) |  | Other assets, net | 5,175
Depreciation and amortization | (1,663) |  | Total Assets | 141,016
Other income (expense), net | (130) |  |  |
Loss before earnings from JVs | (103) |  | Liabilities and Equity: |
Equity in net income of JVs | (61) |  | Mortgage debt | 103,342
Basis differences of JVs | (1,521) |  | Notes payable to SITE | 531
Gain on disposition of real estate | 1,685 |  | Other liabilities | 8,923
Net income | $0 |  | Total Liabilities | 112,796
|  |  | JVs share of equity | 201
FFO Reconciliation 1Q24 |  | Distributions in excess of net income | 28,019
Loss before earnings from JVs | ($103) |  | Total Equity | 28,220
Depreciation and amortization | 1,663 |  | Total Liabilities and Equity | $141,016
Basis differences of JVs | 4 |  |  |
FFO at SITE's Ownership Interests | $1,564 |  |  |
OFFO at SITE's Ownership Interests | $1,676 |  |  |
(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 | $3,567 |  |  |
Ground lease minimum rents | 145 |  |  |
Straight-line rent, net | 45 |  |  |
Amortization of (above) below market rent, net | 80 |  |  |
Percentage and overage rent | 58 |  |  |
Recoveries | 1,161 |  |  |
Uncollectible revenue | 41 |  |  |
(3) Other Income: |  |  |  |
Ancillary and other rental income | 104 |  |  |

23

SITE Centers Corp.

Unconsolidated Joint Ventures at 100%

$ in thousands |  |  |  |  |  |  |  |
Combined Income Statement
|  | 2Q24 |  | 2Q23 |  | 6M24 |  | 6M23
Revenues: |  |  |  |  |  |  |  |
Rental income (1) |  | $20,926 |  | $23,092 |  | $42,684 |  | $47,408
Other income (2) |  | 323 |  | 978 |  | 619 |  | 1,352
|  | 21,249 |  | 24,070 |  | 43,303 |  | 48,760
Expenses: |  |  |  |  |  |  |  |
Operating and maintenance |  | 3,126 |  | 3,465 |  | 6,420 |  | 7,084
Real estate taxes |  | 2,480 |  | 2,653 |  | 5,054 |  | 5,598
|  | 5,606 |  | 6,118 |  | 11,474 |  | 12,682
Net operating income |  | 15,643 |  | 17,952 |  | 31,829 |  | 36,078
Other income (expense): |  |  |  |  |  |  |  |
Interest expense |  | (7,902) |  | (6,307) |  | (16,173) |  | (13,348)
Depreciation and amortization |  | (6,785) |  | (8,281) |  | (13,930) |  | (17,343)
Other expense, net |  | (2,048) |  | (2,378) |  | (3,944) |  | (4,938)
|  | (1,092) |  | 986 |  | (2,218) |  | 449
Gain on disposition of real estate, net |  | 8,426 |  | 14,874 |  | 8,397 |  | 20,178
Net income attributable to unconsolidated JVs |  | 7,334 |  | 15,860 |  | 6,179 |  | 20,627
Depreciation and amortization |  | 6,785 |  | 8,281 |  | 13,930 |  | 17,343
Gain on disposition of real estate, net |  | (8,426) |  | (14,874) |  | (8,397) |  | (20,178)
FFO |  | $5,693 |  | $9,267 |  | $11,712 |  | $17,792
FFO at SITE's ownership interests |  | $1,564 |  | $2,201 |  | $3,148 |  | $4,183
Operating FFO at SITE's ownership interests |  | $1,676 |  | $2,334 |  | $3,337 |  | $4,482
(1) Rental Income: |  |  |  |  |  |  |  |
Minimum rents |  | $14,534 |  | $16,317 |  | $29,481 |  | $33,713
Ground lease minimum rents |  | 726 |  | 728 |  | 1,460 |  | 1,451
Straight-line rent, net |  | 157 |  | 148 |  | 291 |  | 227
Amortization of (above) below market rent, net |  | 399 |  | 452 |  | 985 |  | 873
Percentage and overage rent |  | 118 |  | 61 |  | 363 |  | 447
Recoveries |  | 4,898 |  | 5,288 |  | 9,764 |  | 10,605
Uncollectible revenue |  | 94 |  | 98 |  | 340 |  | 92
(2) Other Income: |  |  |  |  |  |  |  |
Ancillary and other rental income |  | 323 |  | 978 |  | 619 |  | 1,352
Combined Balance Sheet
|  |  |  | At Period End
|  |  |  |  |  | 2Q24 |  | 4Q23
Assets: |  |  |  |  |  |  |  |
Land |  |  |  |  |  | $159,567 |  | $180,588
Buildings |  |  |  |  |  | 492,677 |  | 558,585
Improvements |  |  |  |  |  | 52,160 |  | 58,626
|  |  |  |  |  | 704,404 |  | 797,799
Depreciation |  |  |  |  |  | (156,948) |  | (187,557)
|  |  |  |  |  | 547,456 |  | 610,242
Construction in progress and land |  |  |  |  |  | 555 |  | 1,616
Real estate, net |  |  |  |  |  | 548,011 |  | 611,858
Cash and restricted cash |  |  |  |  |  | 33,731 |  | 41,250
Receivables, net |  |  |  |  |  | 8,955 |  | 9,847
Other assets, net |  |  |  |  |  | 20,885 |  | 25,498
Total Assets |  |  |  |  |  | 611,582 |  | 688,453
Liabilities and Equity: |  |  |  |  |  |  |  |
Mortgage debt |  |  |  |  |  | 425,127 |  | 464,255
Notes and accrued interest payable to SITE |  |  |  |  |  | 2,027 |  | 2,627
Other liabilities |  |  |  |  |  | 37,629 |  | 36,279
Total Liabilities |  |  |  |  |  | 464,783 |  | 503,161
Accumulated equity |  |  |  |  |  | 146,799 |  | 185,292
Total Equity |  |  |  |  |  | 146,799 |  | 185,292
Total Liabilities and Equity |  |  |  |  |  | $611,582 |  | $688,453

24

SITE Centers Corp.

Property List as of June 30, 2024

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 | Chandler Center | Phoenix-Mesa-Scottsdale, AZ | Chandler | AZ | 100% |  | 7 | $43.58 | —
2 | Shops at Gilbert Crossroads | Phoenix-Mesa-Scottsdale, AZ | Gilbert | AZ | 100% |  | 15 | $38.36 | —
3 | Shops at Power and Baseline | Phoenix-Mesa-Scottsdale, AZ | Mesa | AZ | 100% |  | 4 | $56.22 | —
4 | Shops at Lake Pleasant | Phoenix-Mesa-Scottsdale, AZ | Peoria | AZ | 100% |  | 47 | $40.52 | —
5 | Ahwatukee Foothills Towne Center | Phoenix-Mesa-Scottsdale, AZ | Phoenix | AZ | 20% | DTP | 691 | $18.37 | AMC Theatres, Best Buy, Big Lots, Burlington, HomeGoods, JOANN, Lina Home Furnishings, Marshalls, Michaels, OfficeMax, Ross Dress for Less, Sprouts Farmers Market
6 | Deer Valley Towne Center | Phoenix-Mesa-Scottsdale, AZ | Phoenix | AZ | 100% |  | 190 | $21.49 | Michaels, PetSmart, Ross Dress for Less
7 | Paradise Village Gateway | Phoenix-Mesa-Scottsdale, AZ | Phoenix | AZ | 100% |  | 295 | $26.11 | PetSmart, Ross Dress for Less, Sun & Ski Sports
8 | Red Mountain Corner | Phoenix-Mesa-Scottsdale, AZ | Phoenix | AZ | 100% |  | 6 | $24.18 | —
9 | Artesia Village | Phoenix-Mesa-Scottsdale, AZ | Scottsdale | AZ | 100% |  | 21 | $40.90 | —
10 | Northsight Plaza | Phoenix-Mesa-Scottsdale, AZ | Scottsdale | AZ | 100% |  | 10 | $35.00 | —
11 | Broadway Center | Phoenix-Mesa-Scottsdale, AZ | Tempe | AZ | 100% |  | 11 | $37.74 | —
12 | Falcon Ridge Town Center | Los Angeles-Long Beach-Anaheim, CA | Fontana | CA | 100% |  | 277 | $23.64 | 24 Hour Fitness, Michaels, Ross Dress for Less, Stater Bros Markets
13 | The Pike Outlets | Los Angeles-Long Beach-Anaheim, CA | Long Beach | CA | 100% |  | 389 | $25.32 | Cinemark, Gold's Gym, H & M, Nike, Restoration Hardware
14 | Creekside Plaza | Sacramento-Roseville-Arden-Arcade, CA | Roseville | CA | 100% |  | 32 | $42.83 | —
15 | Ridge at Creekside | Sacramento-Roseville-Arden-Arcade, CA | Roseville | CA | 100% |  | 243 | $27.66 | Macy's Furniture Gallery, REI, World Market
16 | La Fiesta Square | San Francisco-Oakland-Hayward, CA | Lafayette | CA | 100% |  | 53 | $55.93 | —
17 | Lafayette Mercantile | San Francisco-Oakland-Hayward, CA | Lafayette | CA | 100% |  | 22 | $56.43 | —
18 | Whole Foods at Bay Place | San Francisco-Oakland-Hayward, CA | Oakland | CA | 100% |  | 57 | $51.02 | Whole Foods
19 | Centennial Promenade | Denver-Aurora-Lakewood, CO | Centennial | CO | 100% |  | 443 | $21.53 | American Freight, Golf Galaxy, HomeGoods, Michaels, Movement Climbing Yoga And Fitness, Ross Dress for Less, Total Wine & More
20 | Chapel Hills West | Denver-Aurora-Lakewood, CO | Colorado Springs | CO | 100% |  | 225 | $12.30 | Burlington, PetSmart, Ross Dress for Less, Urban Air Adventure Park
21 | Parker Keystone | Denver-Aurora-Lakewood, CO | Denver | CO | 100% |  | 17 | $41.14 | —
22 | Shops on Montview | Denver-Aurora-Lakewood, CO | Denver | CO | 100% |  | 9 | $37.90 | —
23 | University Hills | Denver-Aurora-Lakewood, CO | Denver | CO | 100% |  | 236 | $21.21 | King Soopers, Marshalls, Michaels
24 | FlatAcres MarketCenter | Denver-Aurora-Lakewood, CO | Parker | CO | 100% |  | 136 | $17.78 | 24 Hour Fitness, Michaels
25 | Parker Pavilions | Denver-Aurora-Lakewood, CO | Parker | CO | 100% |  | 96 | $22.42 | Office Depot
26 | Guilford Commons | Hartford-West Hartford-East Hartford, CT | Guilford | CT | 100% |  | 129 | $21.83 | The Fresh Market
27 | Connecticut Commons | Hartford-West Hartford-East Hartford, CT | Plainville | CT | 20% | DTP | 561 | $13.81 | AMC Theatres, Dick's Sporting Goods, DSW, Kohl's, Lowe's, Marshalls, PetSmart
28 | Estero Crossing | Cape Coral-Fort Myers, FL | Estero | FL | 100% |  | 34 | $33.58 | —
29 | Shoppes at Paradise Pointe | Crestview-Fort Walton Beach-Destin, FL | Fort Walton Beach | FL | 100% |  | 73 | $12.76 | Publix
30 | Shops at Boca Center | Miami-Fort Lauderdale-West Palm Beach, FL | Boca Raton | FL | 100% |  | 117 | $42.47 | Total Wine & More
31 | Village Square at Golf | Miami-Fort Lauderdale-West Palm Beach, FL | Boynton Beach | FL | 100% |  | 135 | $18.29 | KC Mart
32 | Shoppes at Addison Place | Miami-Fort Lauderdale-West Palm Beach, FL | Delray Beach | FL | 100% |  | 56 | $46.66 | —
33 | Concourse Village | Miami-Fort Lauderdale-West Palm Beach, FL | Jupiter | FL | 100% |  | 134 | $19.15 | Ross Dress for Less, T.J. Maxx
34 | The Shops at Midtown Miami | Miami-Fort Lauderdale-West Palm Beach, FL | Miami | FL | 100% |  | 467 | $23.09 | Dick's Sporting Goods, HomeGoods, Marshalls, Nordstrom Rack, Ross Dress for Less, Target, west elm
35 | Shops at the Fountains | Miami-Fort Lauderdale-West Palm Beach, FL | Plantation | FL | 100% |  | 14 | $35.38 | —
36 | Midway Plaza | Miami-Fort Lauderdale-West Palm Beach, FL | Tamarac | FL | 100% |  | 228 | $15.25 | Publix, Ross Dress for Less
37 | Shops at Carillon | Naples-Immokalee-Marco Island, FL | Naples | FL | 100% |  | 15 | $26.95 | —
38 | Shops at Casselberry | Orlando-Kissimmee-Sanford, FL | Casselberry | FL | 100% |  | 8 | $30.80 | —
39 | Lee Vista Promenade | Orlando-Kissimmee-Sanford, FL | Orlando | FL | 100% |  | 314 | $17.39 | Academy Sports, Bealls OUTLET, Epic Theatres, HomeGoods, Michaels, Ross Dress for Less

25

SITE Centers Corp.

Property List as of June 30, 2024

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

# | Center | MSA | Location | ST | SITE Own % | JV | Owned GLA | ABR PSF | Anchor Tenants
40 | Millenia Crossing | Orlando-Kissimmee-Sanford, FL | Orlando | FL | 100% |  | 100 | $23.30 | Nordstrom Rack
41 | Winter Garden Village | Orlando-Kissimmee-Sanford, FL | Winter Garden | FL | 100% |  | 759 | $22.49 | Bealls, Best Buy, Burlington, Forever 21, Havertys, JOANN, LA Fitness, Market By Macy's, Marshalls, PetSmart, Ross Dress for Less, Staples
42 | Lake Brandon Village | Tampa-St. Petersburg-Clearwater, FL | Brandon | FL | 100% |  | 114 | $15.48 | PetSmart, Scandinavian Designs, Sprouts Farmers Market
43 | The Collection at Brandon Boulevard | Tampa-St. Petersburg-Clearwater, FL | Brandon | FL | 100% |  | 222 | $13.82 | Bealls OUTLET, Chuck E. Cheese's, Crunch Fitness, Kane's Furniture
44 | The Shoppes of Boot Ranch | Tampa-St. Petersburg-Clearwater, FL | Palm Harbor | FL | 100% |  | 52 | $29.49 | —
45 | Southtown Center | Tampa-St. Petersburg-Clearwater, FL | Tampa | FL | 100% |  | 44 | $40.51 | —
46 | Sunrise Plaza | Sebastian-Vero Beach-West Vero Corridor, FL | Vero Beach | FL | 100% |  | 16 | $24.05 | —
47 | Alpha Soda Center | Atlanta-Sandy Springs-Roswell, GA | Alpharetta | GA | 100% |  | 15 | $39.98 | —
48 | Shoppes of Crabapple | Atlanta-Sandy Springs-Roswell, GA | Alpharetta | GA | 100% |  | 8 | $30.04 | —
49 | Hammond Springs | Atlanta-Sandy Springs-Roswell, GA | Atlanta | GA | 100% |  | 69 | $32.17 | —
50 | Parkwood Shops | Atlanta-Sandy Springs-Roswell, GA | Atlanta | GA | 100% |  | 20 | $25.78 | —
51 | Perimeter Pointe | Atlanta-Sandy Springs-Roswell, GA | Atlanta | GA | 100% |  | 360 | $17.63 | Dick's Sporting Goods, LA Fitness, Regal Cinemas
52 | Cumming Marketplace | Atlanta-Sandy Springs-Roswell, GA | Cumming | GA | 100% |  | 175 | $19.18 | Marshalls, Michaels, OfficeMax
53 | Cumming Town Center | Atlanta-Sandy Springs-Roswell, GA | Cumming | GA | 100% |  | 311 | $16.92 | Ashley Furniture HomeStore, Best Buy, Burlington, Dick's Sporting Goods, T.J. Maxx/HomeGoods
54 | Plaza at Market Square | Atlanta-Sandy Springs-Roswell, GA | Douglasville | GA | 100% |  | 9 | $16.28 | —
55 | Barrett Corners | Atlanta-Sandy Springs-Roswell, GA | Kennesaw | GA | 100% |  | 19 | $47.14 | —
56 | Towne Center Prado | Atlanta-Sandy Springs-Roswell, GA | Marietta | GA | 20% | DTP | 287 | $13.01 | Going Going Gone, Publix, Ross Dress for Less
57 | Roswell Market Center | Atlanta-Sandy Springs-Roswell, GA | Roswell | GA | 100% |  | 82 | $17.21 | AutoZone
58 | Sandy Plains Village | Atlanta-Sandy Springs-Roswell, GA | Roswell | GA | 100% |  | 174 | $14.48 | Movie Tavern, Painted Tree Marketplace
59 | Presidential Commons | Atlanta-Sandy Springs-Roswell, GA | Snellville | GA | 100% |  | 274 | $16.42 | Burlington, JOANN, Kroger
60 | Presidential Plaza North | Atlanta-Sandy Springs-Roswell, GA | Snellville | GA | 100% |  | 11 | $42.50 | —
61 | 3030 North Broadway | Chicago-Naperville-Elgin, IL-IN-WI | Chicago | IL | 100% |  | 132 | $35.61 | Mariano's, XSport Fitness
62 | The Maxwell | Chicago-Naperville-Elgin, IL-IN-WI | Chicago | IL | 100% |  | 240 | $25.76 | Burlington, Dick's Sporting Goods, Nordstrom Rack
63 | Deer Park Town Center | Chicago-Naperville-Elgin, IL-IN-WI | Deer Park | IL | 50% | RVIP IIIB | 357 | $38.04 | Century Theatre, Crate & Barrel, Gap
64 | Woodfield Village Green | Chicago-Naperville-Elgin, IL-IN-WI | Schaumburg | IL | 100% |  | 390 | $24.30 | Bloomingdale's The Outlet Store, Container Store, HomeGoods, Marshalls, Michaels, Nordstrom Rack, PetSmart, Sierra Trading Post, Trader Joe's
65 | Brookside Marketplace | Chicago-Naperville-Elgin, IL-IN-WI | Tinley Park | IL | 20% | DTP | 317 | $15.97 | Best Buy, Dick's Sporting Goods, HomeGoods, Michaels, PetSmart, Ross Dress for Less, T.J. Maxx
66 | Wilmette Center | Chicago-Naperville-Elgin, IL-IN-WI | Wilmette | IL | 100% |  | 9 | $29.59 | —
67 | Shops at Framingham | Boston-Cambridge-Newton, MA-NH | Framingham | MA | 100% |  | 19 | $61.23 | —
68 | Foxtail Center | Baltimore-Columbia-Towson, MD | Timonium | MD | 100% |  | 30 | $35.26 | —
69 | Independence Commons | Kansas City, MO-KS | Independence | MO | 20% | DTP | 386 | $15.55 | AMC Theatres, Best Buy, Bob's Discount Furniture, Kohl's, Marshalls, Ross Dress for Less
70 | The Promenade at Brentwood | St. Louis, MO-IL | Brentwood | MO | 100% |  | 338 | $16.31 | Burlington, Micro Center, PetSmart, Target, Trader Joe's
71 | East Hanover Plaza | New York-Newark-Jersey City, NY-NJ-PA | East Hanover | NJ | 100% |  | 98 | $21.52 | HomeGoods, HomeSense
72 | Edgewater Towne Center | New York-Newark-Jersey City, NY-NJ-PA | Edgewater | NJ | 100% |  | 76 | $32.32 | Whole Foods
73 | Freehold Marketplace | New York-Newark-Jersey City, NY-NJ-PA | Freehold | NJ | 100% |  | 21 | $37.18 | —
74 | Route 22 Retail Center | New York-Newark-Jersey City, NY-NJ-PA | Union | NJ | 20% | DTP | 112 | $16.90 | Big Lots, Dick's Sporting Goods
75 | Echelon Village Plaza | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | Voorhees | NJ | 100% |  | 89 | $14.16 | The Edge Fitness Clubs
76 | Hamilton Marketplace | Trenton, NJ | Hamilton | NJ | 100% |  | 547 | $20.93 | Barnes & Noble, Burlington, Kohl's, Michaels, Ross Dress for Less, ShopRite, Staples
77 | Nassau Park Pavilion | Trenton, NJ | Princeton | NJ | 100% |  | 759 | $16.11 | At Home, Best Buy, Burlington, Dick's Sporting Goods, HomeGoods, HomeSense, Michaels, PetSmart, Planet Fitness, Raymour & Flanigan, T.J. Maxx, Wegmans
78 | Belgate Plaza | Charlotte-Concord-Gastonia, NC-SC | Charlotte | NC | 100% |  | 20 | $36.65 | —

26

SITE Centers Corp.

Property List as of June 30, 2024

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

# | Center | MSA | Location | ST | SITE Own % | JV | Owned GLA | ABR PSF | Anchor Tenants
79 | Carolina Pavilion | Charlotte-Concord-Gastonia, NC-SC | Charlotte | NC | 100% |  | 701 | $14.87 | AMC Theatres, American Freight Outlet Stores, AutoZone, Big Lots, Burlington, Conn's, Floor & Decor, Frontgate Outlet Store, JOANN, Nordstrom Rack, Old Navy, Ross Dress for Less, Value City Furniture
80 | Point at University | Charlotte-Concord-Gastonia, NC-SC | Charlotte | NC | 100% |  | 14 | $38.58 | —
81 | The Shops at The Fresh Market | Charlotte-Concord-Gastonia, NC-SC | Cornelius | NC | 100% |  | 132 | $18.48 | HomeSense, The Fresh Market, Total Wine & More
82 | Meadowmont Crossing | Raleigh, NC | Chapel Hill | NC | 100% |  | 92 | $24.71 | —
83 | Meadowmont Market | Raleigh, NC | Chapel Hill | NC | 100% |  | 45 | $15.52 | Harris Teeter
84 | Meadowmont Village | Raleigh, NC | Chapel Hill | NC | 100% |  | 62 | $29.33 | —
85 | Poyner Place | Raleigh, NC | Raleigh | NC | 20% | DTP | 252 | $16.92 | 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 | $10.85 | Crunch Fitness, Lowe's, Old Navy, Ollie's Bargain Outlet, Ross Dress for Less
87 | Stow Community Center | Cleveland-Elyria, OH | Stow | OH | 100% |  | 406 | $12.67 | Giant Eagle, Hobby Lobby, HomeGoods, Kohl's, T.J. Maxx
88 | Shops on Polaris | Columbus, OH | Columbus | OH | 100% |  | 71 | $31.81 | —
89 | Shops at Tanasbourne | Portland-Vancouver-Hillsboro, OR-WA | Hillsboro | OR | 100% |  | 5 | $32.60 | —
90 | The Blocks | Portland-Vancouver-Hillsboro, OR-WA | Portland | OR | 100% |  | 97 | $36.49 | —
91 | Southmont Plaza | Allentown-Bethlehem-Easton, PA-NJ | Easton | PA | 100% |  | 251 | $16.96 | Barnes & Noble, Best Buy, Dick's Sporting Goods, Michaels, Staples
92 | Ashley Crossing | Charleston-North Charleston, SC | Charleston | SC | 20% | DTP | 208 | $11.51 | Food Lion, JOANN, Kohl's, Marshalls
93 | Oaks at Slaughter | Austin, TX | Austin | TX | 100% |  | 26 | $35.62 | —
94 | Vintage Plaza | Austin, TX | Round Rock | TX | 100% |  | 41 | $28.03 | —
95 | Grove at Harper's Preserve | Houston-The Woodlands-Sugar Land, TX | Conroe | TX | 100% |  | 21 | $33.00 | —
96 | Briarcroft Center | Houston-The Woodlands-Sugar Land, TX | Houston | TX | 100% |  | 33 | $42.49 | —
97 | Marketplace at 249 | Houston-The Woodlands-Sugar Land, TX | Houston | TX | 100% |  | 17 | $38.36 | —
98 | Shops at Tanglewood | Houston-The Woodlands-Sugar Land, TX | Houston | TX | 100% |  | 26 | $48.17 | —
99 | Bandera Pointe | San Antonio-New Braunfels, TX | San Antonio | TX | 100% |  | 441 | $11.45 | Gold's Gym, JOANN, Lowe's, Old Navy, PetSmart, Ross Dress for Less, T.J. Maxx, Urban Air Trampoline & Adventure Park
100 | Shops at Bandera Pointe | San Antonio-New Braunfels, TX | San Antonio | TX | 100% |  | 48 | $25.77 | —
101 | Village at Stone Oak | San Antonio-New Braunfels, TX | San Antonio | TX | 100% |  | 442 | $19.37 | Alamo Drafthouse Cinema, Hobby Lobby, HomeGoods, Ross Dress for Less
102 | Emmet Street North | Charlottesville, VA | Charlottesville | VA | 100% |  | 2 | $78.55 | —
103 | Emmet Street Station | Charlottesville, VA | Charlottesville | VA | 100% |  | 11 | $52.08 | —
104 | Commonwealth Center | Richmond, VA | Midlothian | VA | 20% | DTP | 166 | $15.92 | Michaels, Painted Tree Marketplace, The Fresh Market
105 | Towne Crossing Shops | Richmond, VA | Midlothian | VA | 100% |  | 7 | $39.79 | —
106 | Downtown Short Pump | Richmond, VA | Richmond | VA | 100% |  | 126 | $22.57 | Barnes & Noble, Regal Cinemas
107 | White Oak Village | Richmond, VA | Richmond | VA | 100% |  | 432 | $17.11 | JCPenney, K&G Fashion Superstore, Michaels, PetSmart, Publix
108 | Boulevard Marketplace | Washington-Arlington-Alexandria, DC-VA-MD-WV | Fairfax | VA | 100% |  | 19 | $42.19 | —
109 | Fairfax Marketplace | Washington-Arlington-Alexandria, DC-VA-MD-WV | Fairfax | VA | 100% |  | 19 | $58.70 | —
110 | Fairfax Pointe | Washington-Arlington-Alexandria, DC-VA-MD-WV | Fairfax | VA | 100% |  | 10 | $50.34 | —
111 | Fairfax Towne Center | Washington-Arlington-Alexandria, DC-VA-MD-WV | Fairfax | VA | 100% |  | 253 | $25.78 | JOANN, Regal Cinemas, Safeway, T.J. Maxx
112 | Springfield Center | Washington-Arlington-Alexandria, DC-VA-MD-WV | Springfield | VA | 100% |  | 177 | $23.80 | Barnes & Noble, Bob's Discount Furniture, DSW, Marshalls, Michaels, The Tile Shop
DTP - Dividend Trust Portfolio |  |  |  |  |  |
RVIP IIIB - Deer Park, IL |  |  |  |  |  |

27

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.

28

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 | 30 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

•
Cash Leasing Spreads are calculated by comparing the prior tenant's annual base rent in the final year of the prior lease to the executed tenant's annual base rent in the first year of the executed lease.
•
Straight-Lined Leasing Spreads are calculated by comparing the prior tenant's average base rent over the prior lease term to the executed tenant's average base rent over the term of the executed lease.
•
For both SITE Cash and Straight-Lined Leasing Spreads, the reported calculation includes only comparable leases which are deals executed within one year of the date that the prior tenant vacated. Deals executed after one year of the date the prior tenant vacated, deals which are a combination of existing units, new leases at "Redevelopment” properties, and deals for units vacant at the time of acquisition are considered non-comparable and excluded from the calculation.
•
For both Curbline Properties Cash and Straight-Lined Leasing Spreads, the reported calculation includes both leases vacant greater than twelve months along with split and combination deals.
•
The Curbline Properties calculation excludes first generation units and spaces vacant at the time of 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.

29

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/losses 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/losses 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, including employee separation 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/losses 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/losses are non-recurring. These charges, income and gains/losses 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.

30

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 and certain transaction costs. 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 and 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 prior period comparisons). In addition, SSNOI is presented including activity associated with 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. 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. In reliance on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K, reconciliation of the projected NOI and assumed rate of 2024 SSNOI growth to the most directly comparable GAAP financial measure is not provided because the Company is unable to provide such reconciliations without unreasonable effort due to the multiple components of the calculations which for the same store calculation only includes properties owned for comparable periods and excludes all corporate level activity as noted above.

31

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.

32

SITE Centers Corp.

Portfolio Sum mary at 100%

GLA in thousands |  |  |  |  |  |  |  |  |  |
|  | 6/30/2024 |  | 3/31/2024 |  | 12/31/2023 |  | 9/30/2023 |  | 6/30/2023
Shopping Center Summary |  |  |  |  |  |  |  |  |  |
Operating Centers – 100% |  | 112 |  | 114 |  | 114 |  | 119 |  | 121
Wholly Owned - SITE |  | 101 |  | 101 |  | 101 |  | 106 |  | 108
JV Portfolio |  | 11 |  | 13 |  | 13 |  | 13 |  | 13
Owned and Ground Lease GLA – 100% |  | 17,947 |  | 21,938 |  | 22,553 |  | 25,570 |  | 26,240
Wholly Owned - SITE |  | 14,194 |  | 17,740 |  | 18,369 |  | 21,386 |  | 22,056
JV Portfolio – 100% |  | 3,753 |  | 4,198 |  | 4,184 |  | 4,184 |  | 4,184
Unowned GLA – 100% |  | 6,364 |  | 7,653 |  | 7,972 |  | 8,298 |  | 8,709
Quarterly Operational Overview |  |  |  |  |  |  |  |  |  |
SITE (100%) |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  | $20.92 |  | $19.98 |  | $19.69 |  | $19.63 |  | $19.38
Base Rent PSF < 10K |  | $33.01 |  | $32.54 |  | $32.17 |  | $31.59 |  | $31.12
Base Rent PSF > 10K |  | $15.67 |  | $15.21 |  | $15.06 |  | $15.45 |  | $15.38
Commenced Rate |  | 91.3% |  | 91.7% |  | 92.0% |  | 92.0% |  | 92.5%
Leased Rate |  | 93.4% |  | 94.2% |  | 94.6% |  | 94.5% |  | 95.4%
Leased Rate < 10K SF |  | 89.7% |  | 90.2% |  | 90.3% |  | 90.6% |  | 90.3%
Leased Rate > 10K SF |  | 95.1% |  | 95.8% |  | 96.2% |  | 96.0% |  | 97.2%
Wholly Owned SITE |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  | $22.21 |  | $20.81 |  | $20.46 |  | $20.29 |  | $19.97
Leased Rate |  | 93.2% |  | 94.2% |  | 94.5% |  | 94.7% |  | 95.6%
Leased Rate < 10K SF |  | 91.1% |  | 91.5% |  | 91.4% |  | 91.4% |  | 91.2%
Leased Rate > 10K SF |  | 94.3% |  | 95.4% |  | 95.9% |  | 95.9% |  | 97.2%
Joint Venture (100%) |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  | $16.52 |  | $16.62 |  | $16.43 |  | $16.41 |  | $16.43
Leased Rate |  | 94.2% |  | 94.0% |  | 94.6% |  | 93.8% |  | 94.2%
Leased Rate < 10K SF |  | 82.6% |  | 83.6% |  | 84.7% |  | 86.3% |  | 85.1%
Leased Rate > 10K SF |  | 98.1% |  | 97.5% |  | 97.8% |  | 96.3% |  | 97.3%
Joint Venture at Pro Rata Share |  |  |  |  |  |  |  |  |  |
Base Rent PSF |  | $18.53 |  | $18.41 |  | $18.20 |  | $18.16 |  | $18.08
Leased Rate |  | 92.6% |  | 92.5% |  | 93.0% |  | 92.3% |  | 92.2%
Leased Rate < 10K SF |  | 81.0% |  | 81.8% |  | 82.3% |  | 83.3% |  | 81.0%
Leased Rate > 10K SF |  | 97.6% |  | 97.1% |  | 97.4% |  | 96.0% |  | 96.9%

33

SITE Centers Corp.

Leasing Summary

Wholly Owned at 100% |  |  |  |  |  |  |  |  |  |
Leasing Activity |  |  |  |  |  |  |  |  |  |  |
| Comparable Pool |  | Total Pool
|  |  |  | Leasing Spreads |  |  |  |  |  |
| Count | GLA | ABR PSF | Cash | Straight-lined | Term |  | Count | GLA | ABR PSF | Term
New Leases |  |  |  |  |  |  |  |  |  |  |
2Q24 | 9 | 56,106 | $29.69 | 43.2% | 49.8% | 9.8 |  | 20 | 86,958 | $33.11 | 9.4
1Q24 | 10 | 17,120 | $37.38 | 11.5% | 26.9% | 8.3 |  | 15 | 69,438 | $26.28 | 11.0
4Q23 | 9 | 64,639 | $17.81 | 9.2% | 17.3% | 9.5 |  | 17 | 97,092 | $22.05 | 9.3
3Q23 | 13 | 157,037 | $20.65 | 58.3% | 73.5% | 9.8 |  | 25 | 204,875 | $22.14 | 9.9
| 41 | 294,902 | $22.72 | 38.4% | 50.0% | 9.7 |  | 77 | 458,363 | $24.83 | 9.9
Renewals |  |  |  |  |  |  |  |  |  |  |
2Q24 | 61 | 581,591 | $20.67 | 9.5% | 15.5% | 5.7 |  | 61 | 581,591 | $20.67 | 5.7
1Q24 | 77 | 549,220 | $20.10 | 8.2% | 12.7% | 5.3 |  | 77 | 549,220 | $20.10 | 5.3
4Q23 | 61 | 374,469 | $24.01 | 3.1% | 9.0% | 5.1 |  | 61 | 374,469 | $24.01 | 5.1
3Q23 | 82 | 1,010,717 | $17.62 | 6.7% | 10.5% | 5.7 |  | 82 | 1,010,717 | $17.62 | 5.7
| 281 | 2,515,997 | $19.82 | 7.0% | 11.9% | 5.5 |  | 281 | 2,515,997 | $19.82 | 5.5
New + Renewals |  |  |  |  |  |  |  |  |  |  |
2Q24 | 70 | 637,697 | $21.46 | 12.8% | 19.0% | 6.1 |  | 81 | 668,549 | $22.29 | 6.2
1Q24 | 87 | 566,340 | $20.62 | 8.4% | 13.4% | 5.4 |  | 92 | 618,658 | $20.79 | 5.9
4Q23 | 70 | 439,108 | $23.10 | 3.7% | 9.9% | 5.7 |  | 78 | 471,561 | $23.60 | 5.9
3Q23 | 95 | 1,167,754 | $18.03 | 12.3% | 17.3% | 6.2 |  | 107 | 1,215,592 | $18.38 | 6.4
| 322 | 2,810,899 | $20.12 | 10.0% | 15.5% | 6.0 |  | 358 | 2,974,360 | $20.59 | 6.2

Net Effective Rents |  |  |  |  |  |  |
|  |  | Capex PSF | NER |
| GLA | ABR PSF | TA | LL Work | LC | Total | PSF | Term
New Leases |  |  |  |  |  |  |  |
2Q24 | 79,290 | $33.47 | $3.10 | $1.36 | $1.67 | $6.13 | $27.34 | 9.4
1Q24 | 47,281 | $29.17 | $3.59 | $0.03 | $1.31 | $4.93 | $24.24 | 9.2
4Q23 | 85,048 | $23.14 | $1.42 | $2.45 | $1.04 | $4.91 | $18.23 | 9.2
3Q23 | 181,331 | $22.80 | $1.98 | $0.59 | $0.81 | $3.38 | $19.42 | 9.8
| 392,950 | $25.79 | $2.27 | $1.07 | $1.09 | $4.43 | $21.36 | 9.5
Renewals |  |  |  |  |  |  |  |
2Q24 | 581,591 | $21.31 | $0.01 | $0.02 | $0.00 | $0.03 | $21.28 | 5.7
1Q24 | 549,220 | $20.60 | $0.11 | $0.00 | $0.00 | $0.11 | $20.49 | 5.3
4Q23 | 374,469 | $24.47 | $0.03 | $0.00 | $0.01 | $0.04 | $24.43 | 5.1
3Q23 | 1,010,717 | $17.89 | $0.10 | $0.00 | $0.00 | $0.10 | $17.79 | 5.7
| 2,515,997 | $20.25 | $0.07 | $0.00 | $0.00 | $0.07 | $20.18 | 5.5
New + Renewals |  |  |  |  |  |  |  |
2Q24 | 660,881 | $22.77 | $0.57 | $0.26 | $0.30 | $1.13 | $21.64 | 6.2
1Q24 | 596,501 | $21.28 | $0.56 | $0.00 | $0.17 | $0.73 | $20.55 | 5.6
4Q23 | 459,517 | $24.23 | $0.43 | $0.71 | $0.31 | $1.45 | $22.78 | 5.8
3Q23 | 1,192,048 | $18.64 | $0.55 | $0.14 | $0.19 | $0.88 | $17.76 | 6.3
| 2,908,947 | $21.00 | $0.54 | $0.23 | $0.23 | $1.00 | $20.00 | 6.1
Note: ABR PSF represents year one base rent for leasing spreads and the average rent for the initial term for net effective rent. Term is weighted average in years. New Leases exclude leases at redevelopment properties and first generation space.

34

SITE Centers Corp.

Leasing Summary

Unconsolidated Joint Ventures at 100% |  |  |  |  |  |  |  |  |
Leasing Activity |  |  |  |  |  |  |  |  |  |  |
| Comparable Pool |  | Total Pool
|  |  |  | Leasing Spreads |  |  |  |  |  |
| Count | GLA | ABR PSF | Cash | Straight-lined | Term |  | Count | GLA | ABR PSF | Term
New Leases |  |  |  |  |  |  |  |  |  |  |
2Q24 | 2 | 24,903 | $21.40 | 61.1% | 61.4% | 9.7 |  | 2 | 24,903 | $21.40 | 9.7
1Q24 | 0 | 0 | $0.00 | ---% | ---% | 0.0 |  | 0 | 0 | $0.00 | 0.0
4Q23 | 0 | 0 | $0.00 | ---% | ---% | 0.0 |  | 4 | 48,204 | $17.32 | 10.0
3Q23 | 1 | 4,500 | $40.00 | 47.4% | 37.0% | 10.0 |  | 1 | 4,500 | $40.00 | 10.0
| 3 | 29,403 | $24.24 | 57.4% | 56.1% | 9.8 |  | 7 | 77,607 | $19.95 | 9.9
Renewals |  |  |  |  |  |  |  |  |  |  |
2Q24 | 11 | 326,011 | $10.47 | 1.8% | 2.6% | 4.9 |  | 11 | 326,011 | $10.47 | 4.9
1Q24 | 7 | 137,628 | $13.27 | 2.8% | 4.6% | 5.1 |  | 7 | 137,628 | $13.27 | 5.1
4Q23 | 7 | 44,651 | $12.25 | 7.1% | 10.7% | 4.9 |  | 7 | 44,651 | $12.25 | 4.9
3Q23 | 11 | 86,071 | $18.16 | 2.9% | (4.4%) | 6.2 |  | 11 | 86,071 | $18.16 | 6.2
| 36 | 594,361 | $12.37 | 2.7% | 2.1% | 5.1 |  | 36 | 594,361 | $12.37 | 5.1
New + Renewals |  |  |  |  |  |  |  |  |  |  |
2Q24 | 13 | 350,914 | $11.25 | 7.2% | 8.1% | 5.2 |  | 13 | 350,914 | $11.25 | 5.2
1Q24 | 7 | 137,628 | $13.27 | 2.8% | 4.6% | 5.1 |  | 7 | 137,628 | $13.27 | 5.1
4Q23 | 7 | 44,651 | $12.25 | 7.1% | 10.7% | 4.9 |  | 11 | 92,855 | $14.89 | 7.6
3Q23 | 12 | 90,571 | $19.25 | 6.3% | (1.1%) | 6.4 |  | 12 | 90,571 | $19.25 | 6.4
| 39 | 623,764 | $12.93 | 5.9% | 5.4% | 5.4 |  | 43 | 671,968 | $13.24 | 5.7

Net Effective Rents |  |  |  |  |  |  |
|  |  | Capex PSF | NER |
| GLA | ABR PSF | TA | LL Work | LC | Total | PSF | Term
New Leases |  |  |  |  |  |  |  |
2Q24 | 24,903 | $21.73 | $12.24 | $0.00 | $0.78 | $13.02 | $8.71 | 9.7
1Q24 | 0 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0
4Q23 | 48,204 | $17.79 | $3.85 | $3.65 | $0.88 | $8.38 | $9.41 | 10.0
3Q23 | 4,500 | $43.80 | $5.00 | $1.82 | $1.33 | $8.15 | $35.65 | 10.0
| 77,607 | $20.56 | $6.56 | $2.39 | $0.87 | $9.82 | $10.74 | 9.9
Renewals |  |  |  |  |  |  |  |
2Q24 | 326,011 | $10.53 | $0.00 | $0.00 | $0.00 | $0.00 | $10.53 | 4.9
1Q24 | 137,628 | $13.41 | $0.00 | $0.00 | $0.04 | $0.04 | $13.37 | 5.1
4Q23 | 44,651 | $12.46 | $0.04 | $0.00 | $0.00 | $0.04 | $12.42 | 4.9
3Q23 | 86,071 | $18.34 | $1.13 | $0.00 | $0.00 | $1.13 | $17.21 | 6.2
| 594,361 | $12.48 | $0.20 | $0.00 | $0.01 | $0.21 | $12.27 | 5.1
New + Renewals |  |  |  |  |  |  |  |
2Q24 | 350,914 | $11.33 | $1.61 | $0.00 | $0.10 | $1.71 | $9.62 | 5.2
1Q24 | 137,628 | $13.41 | $0.00 | $0.00 | $0.04 | $0.04 | $13.37 | 5.1
4Q23 | 92,855 | $15.22 | $2.65 | $2.50 | $0.60 | $5.75 | $9.47 | 7.6
3Q23 | 90,571 | $19.61 | $1.43 | $0.14 | $0.10 | $1.67 | $17.94 | 6.4
| 671,968 | $13.41 | $1.48 | $0.48 | $0.18 | $2.14 | $11.27 | 5.7
Note: ABR PSF represents year one base rent for leasing spreads and the average rent for the initial term for net effective rent. Term is weighted average in years. New Leases exclude leases at redevelopment properties and first generation space.

35

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 | 1 |  | 28 | 0.3% | $474 | 0.4% |  | $16.93 |  | 9 |  | 21 | 0.5% | $608 | 0.4% |  | $28.95 |  | 10 |  | 49 | 0.4% | $1,082 | 0.4% |  | $22.08
2024 | 2 |  | 36 | 0.4% | $988 | 0.8% |  | $27.44 |  | 47 |  | 114 | 2.8% | 3,204 | 2.3% |  | $28.11 |  | 49 |  | 150 | 1.2% | 4,192 | 1.6% |  | $27.95
2025 | 28 |  | 846 | 9.6% | 13,635 | 10.4% |  | $16.12 |  | 155 |  | 467 | 11.3% | 13,803 | 10.1% |  | $29.56 |  | 183 |  | 1,313 | 10.2% | 27,438 | 10.3% |  | $20.90
2026 | 28 |  | 713 | 8.1% | 8,443 | 6.5% |  | $11.84 |  | 171 |  | 457 | 11.1% | 14,730 | 10.7% |  | $32.23 |  | 199 |  | 1,170 | 9.1% | 23,173 | 8.7% |  | $19.81
2027 | 44 |  | 1,411 | 16.1% | 22,999 | 17.6% |  | $16.30 |  | 189 |  | 533 | 12.9% | 17,928 | 13.1% |  | $33.64 |  | 233 |  | 1,944 | 15.1% | 40,927 | 15.3% |  | $21.05
2028 | 56 |  | 1,747 | 19.9% | 24,630 | 18.9% |  | $14.10 |  | 224 |  | 621 | 15.1% | 21,720 | 15.8% |  | $34.98 |  | 280 |  | 2,368 | 18.4% | 46,350 | 17.3% |  | $19.57
2029 | 44 |  | 1,196 | 13.6% | 17,571 | 13.5% |  | $14.69 |  | 162 |  | 453 | 11.0% | 15,576 | 11.4% |  | $34.38 |  | 206 |  | 1,649 | 12.8% | 33,147 | 12.4% |  | $20.10
2030 | 24 |  | 698 | 8.0% | 10,277 | 7.9% |  | $14.72 |  | 91 |  | 265 | 6.4% | 9,396 | 6.9% |  | $35.46 |  | 115 |  | 963 | 7.5% | 19,673 | 7.4% |  | $20.43
2031 | 12 |  | 474 | 5.4% | 6,279 | 4.8% |  | $13.25 |  | 71 |  | 201 | 4.9% | 6,258 | 4.6% |  | $31.13 |  | 83 |  | 675 | 5.2% | 12,537 | 4.7% |  | $18.57
2032 | 16 |  | 360 | 4.1% | 5,676 | 4.3% |  | $15.77 |  | 111 |  | 349 | 8.5% | 11,602 | 8.5% |  | $33.24 |  | 127 |  | 709 | 5.5% | 17,278 | 6.5% |  | $24.37
2033 | 12 |  | 295 | 3.4% | 4,196 | 3.2% |  | $14.22 |  | 109 |  | 338 | 8.2% | 11,787 | 8.6% |  | $34.87 |  | 121 |  | 633 | 4.9% | 15,983 | 6.0% |  | $25.25
Thereafter | 26 |  | 975 | 11.1% | 15,372 | 11.8% |  | $15.77 |  | 93 |  | 303 | 7.4% | 10,432 | 7.6% |  | $34.43 |  | 119 |  | 1,278 | 9.9% | 25,804 | 9.6% |  | $20.19
Total | 293 |  | 8,779 | 100.0% | $130,540 | 100.0% |  | $14.87 |  | 1,432 |  | 4,122 | 100.0% | $137,044 | 100.0% |  | $33.25 |  | 1,725 |  | 12,901 | 100.0% | $267,584 | 100.0% |  | $20.74
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 |  | 28 | 0.3% | 474 | 0.4% |  | $16.93 |  | 9 |  | 21 | 0.5% | $608 | 0.4% |  | $28.95 |  | 10 |  | 49 | 0.4% | $1,082 | 0.4% |  | $22.08
2024 | 1 |  | 11 | 0.1% | 352 | 0.3% |  | $32.00 |  | 34 |  | 78 | 1.9% | 2,302 | 1.7% |  | $29.51 |  | 35 |  | 89 | 0.7% | 2,654 | 1.0% |  | $29.82
2025 | 3 |  | 63 | 0.7% | 1,399 | 1.1% |  | $22.21 |  | 94 |  | 239 | 5.8% | 7,703 | 5.6% |  | $32.23 |  | 97 |  | 302 | 2.3% | 9,102 | 3.4% |  | $30.14
2026 | 2 |  | 22 | 0.3% | 314 | 0.2% |  | $14.27 |  | 87 |  | 212 | 5.1% | 6,860 | 5.0% |  | $32.36 |  | 89 |  | 234 | 1.8% | 7,174 | 2.7% |  | $30.66
2027 | 11 |  | 211 | 2.4% | 4,180 | 3.2% |  | $19.81 |  | 83 |  | 186 | 4.5% | 6,218 | 4.5% |  | $33.43 |  | 94 |  | 397 | 3.1% | 10,398 | 3.9% |  | $26.19
2028 | 11 |  | 197 | 2.2% | 3,446 | 2.6% |  | $17.49 |  | 119 |  | 314 | 7.6% | 10,812 | 7.9% |  | $34.43 |  | 130 |  | 511 | 4.0% | 14,258 | 5.3% |  | $27.90
2029 | 3 |  | 94 | 1.1% | 1,870 | 1.4% |  | $19.89 |  | 103 |  | 236 | 5.7% | 8,086 | 5.9% |  | $34.26 |  | 106 |  | 330 | 2.6% | 9,956 | 3.7% |  | $30.17
2030 | 10 |  | 252 | 2.9% | 4,323 | 3.3% |  | $17.15 |  | 67 |  | 175 | 4.2% | 5,424 | 4.0% |  | $30.99 |  | 77 |  | 427 | 3.3% | 9,747 | 3.6% |  | $22.83
2031 | 9 |  | 171 | 1.9% | 3,010 | 2.3% |  | $17.60 |  | 65 |  | 141 | 3.4% | 4,414 | 3.2% |  | $31.30 |  | 74 |  | 312 | 2.4% | 7,424 | 2.8% |  | $23.79
2032 | 8 |  | 200 | 2.3% | 3,712 | 2.8% |  | $18.56 |  | 80 |  | 223 | 5.4% | 7,575 | 5.5% |  | $33.97 |  | 88 |  | 423 | 3.3% | 11,287 | 4.2% |  | $26.68
2033 | 14 |  | 314 | 3.6% | 5,179 | 4.0% |  | $16.49 |  | 84 |  | 230 | 5.6% | 7,816 | 5.7% |  | $33.98 |  | 98 |  | 544 | 4.2% | 12,995 | 4.9% |  | $23.89
Thereafter | 220 |  | 7,216 | 82.2% | 102,281 | 78.4% |  | $14.17 |  | 607 |  | 2,067 | 50.1% | 69,226 | 50.5% |  | $33.49 |  | 827 |  | 9,283 | 72.0% | 171,507 | 64.1% |  | $18.48
Total | 293 |  | 8,779 | 100.0% | $130,540 | 100.0% |  | $14.87 |  | 1,432 |  | 4,122 | 100.0% | $137,044 | 100.0% |  | $33.25 |  | 1,725 |  | 12,901 | 100.0% | $267,584 | 100.0% |  | $20.74
Note: Includes ground leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

36

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 | 1 |  | 37 | 1.4% | $260 | 0.7% |  | $7.03 |  | 3 |  | 6 | 0.8% | $330 | 1.5% |  | $55.00 |  | 4 |  | 43 | 1.2% | $590 | 1.0% |  | $13.72
2024 | 1 |  | 24 | 0.9% | 295 | 0.8% |  | $12.29 |  | 9 |  | 25 | 3.2% | 827 | 3.7% |  | $33.08 |  | 10 |  | 49 | 1.4% | 1,122 | 2.0% |  | $22.90
2025 | 10 |  | 233 | 8.6% | 3,132 | 9.0% |  | $13.44 |  | 29 |  | 91 | 11.8% | 2,357 | 10.5% |  | $25.90 |  | 39 |  | 324 | 9.3% | 5,489 | 9.6% |  | $16.94
2026 | 16 |  | 376 | 13.8% | 3,722 | 10.7% |  | $9.90 |  | 32 |  | 114 | 14.8% | 2,941 | 13.1% |  | $25.80 |  | 48 |  | 490 | 14.1% | 6,663 | 11.7% |  | $13.60
2027 | 15 |  | 457 | 16.8% | 6,218 | 17.9% |  | $13.61 |  | 22 |  | 87 | 11.3% | 2,796 | 12.5% |  | $32.14 |  | 37 |  | 544 | 15.6% | 9,014 | 15.8% |  | $16.57
2028 | 15 |  | 413 | 15.2% | 5,266 | 15.1% |  | $12.75 |  | 33 |  | 103 | 13.4% | 3,309 | 14.8% |  | $32.13 |  | 48 |  | 516 | 14.8% | 8,575 | 15.0% |  | $16.62
2029 | 9 |  | 467 | 17.2% | 5,180 | 14.9% |  | $11.09 |  | 30 |  | 117 | 15.2% | 3,122 | 14.0% |  | $26.68 |  | 39 |  | 584 | 16.8% | 8,302 | 14.5% |  | $14.22
2030 | 6 |  | 174 | 6.4% | 2,138 | 6.1% |  | $12.29 |  | 15 |  | 50 | 6.5% | 1,195 | 5.3% |  | $23.90 |  | 21 |  | 224 | 6.4% | 3,333 | 5.8% |  | $14.88
2031 | 7 |  | 249 | 9.2% | 3,860 | 11.1% |  | $15.50 |  | 6 |  | 29 | 3.8% | 941 | 4.2% |  | $32.45 |  | 13 |  | 278 | 8.0% | 4,801 | 8.4% |  | $17.27
2032 | 1 |  | 70 | 2.6% | 310 | 0.9% |  | $4.43 |  | 15 |  | 66 | 8.6% | 2,062 | 9.2% |  | $31.24 |  | 16 |  | 136 | 3.9% | 2,372 | 4.1% |  | $17.44
2033 | 5 |  | 99 | 3.6% | 2,053 | 5.9% |  | $20.74 |  | 9 |  | 36 | 4.7% | 845 | 3.8% |  | $23.47 |  | 14 |  | 135 | 3.9% | 2,898 | 5.1% |  | $21.47
Thereafter | 3 |  | 116 | 4.3% | 2,368 | 6.8% |  | $20.41 |  | 14 |  | 46 | 6.0% | 1,649 | 7.4% |  | $35.85 |  | 17 |  | 162 | 4.6% | 4,017 | 7.0% |  | $24.80
Total | 89 |  | 2,715 | 100.0% | $34,802 | 100.0% |  | $12.82 |  | 217 |  | 770 | 100.0% | $22,374 | 100.0% |  | $29.06 |  | 306 |  | 3,485 | 100.0% | $57,176 | 100.0% |  | $16.41
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 |  | 38 | 1.4% | 260 | 0.7% |  | $6.84 |  | 3 |  | 6 | 0.8% | $330 | 1.5% |  | $55.00 |  | 4 |  | 44 | 1.3% | $590 | 1.0% |  | $13.41
2024 | 1 |  | 24 | 0.9% | 295 | 0.8% |  | $12.29 |  | 7 |  | 21 | 2.7% | 693 | 3.1% |  | $33.00 |  | 8 |  | 45 | 1.3% | 988 | 1.7% |  | $21.96
2025 | 2 |  | 25 | 0.9% | 360 | 1.0% |  | $14.40 |  | 18 |  | 50 | 6.5% | 1,376 | 6.1% |  | $27.52 |  | 20 |  | 75 | 2.2% | 1,736 | 3.0% |  | $23.15
2026 | 2 |  | 36 | 1.3% | 434 | 1.2% |  | $12.06 |  | 18 |  | 47 | 6.1% | 1,162 | 5.2% |  | $24.72 |  | 20 |  | 83 | 2.4% | 1,596 | 2.8% |  | $19.23
2027 | 3 |  | 49 | 1.8% | 719 | 2.1% |  | $14.67 |  | 11 |  | 43 | 5.6% | 1,378 | 6.2% |  | $32.05 |  | 14 |  | 92 | 2.6% | 2,097 | 3.7% |  | $22.79
2028 | 2 |  | 30 | 1.1% | 540 | 1.6% |  | $18.00 |  | 24 |  | 72 | 9.4% | 2,578 | 11.5% |  | $35.81 |  | 26 |  | 102 | 2.9% | 3,118 | 5.5% |  | $30.57
2029 | 2 |  | 47 | 1.7% | 460 | 1.3% |  | $9.79 |  | 21 |  | 66 | 8.6% | 1,925 | 8.6% |  | $29.17 |  | 23 |  | 113 | 3.2% | 2,385 | 4.2% |  | $21.11
2030 | 2 |  | 32 | 1.2% | 440 | 1.3% |  | $13.75 |  | 17 |  | 53 | 6.9% | 1,330 | 5.9% |  | $25.09 |  | 19 |  | 85 | 2.4% | 1,770 | 3.1% |  | $20.82
2031 | 6 |  | 94 | 3.5% | 1,036 | 3.0% |  | $11.02 |  | 12 |  | 43 | 5.6% | 1,335 | 6.0% |  | $31.05 |  | 18 |  | 137 | 3.9% | 2,371 | 4.1% |  | $17.31
2032 | 2 |  | 61 | 2.2% | 742 | 2.1% |  | $12.16 |  | 16 |  | 64 | 8.3% | 2,048 | 9.2% |  | $32.00 |  | 18 |  | 125 | 3.6% | 2,790 | 4.9% |  | $22.32
2033 | 6 |  | 165 | 6.1% | 2,639 | 7.6% |  | $15.99 |  | 8 |  | 30 | 3.9% | 686 | 3.1% |  | $22.87 |  | 14 |  | 195 | 5.6% | 3,325 | 5.8% |  | $17.05
Thereafter | 60 |  | 2,114 | 77.9% | 26,877 | 77.2% |  | $12.71 |  | 62 |  | 275 | 35.7% | 7,533 | 33.7% |  | $27.39 |  | 122 |  | 2,389 | 68.6% | 34,410 | 60.2% |  | $14.40
Total | 89 |  | 2,715 | 100.0% | $34,802 | 100.0% |  | $12.82 |  | 217 |  | 770 | 100.0% | $22,374 | 100.0% |  | $29.06 |  | 306 |  | 3,485 | 100.0% | $57,176 | 100.0% |  | $16.41
Note: Includes ground leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

37

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