RPT Realty : Acquisitions Overview

$500

MILLION

of expected new

acquisitions in 2021

ACQUISITIONS

OVERVIEW

S E C O N D Q U A R T E R 2 0 2 1

U NL E S S O T H E RW I S E I ND I CA T E D, ALL	RPT	FI NA NCIA L	I N FO RM A T I O N IS P R E S E N T E D	ON A
C O NS O L I DA TE D BA S I S AND I NCL UDING	I TS	P RO - RATA	S HA RE O F UNCO NS O L IDA TE D	J O I NT

V E NTURE S AND IS AS OF OR FOR THE Q UA RTE R ENDE D JUNE 3 0, 2 02 1 . UNL E S S O THE RW I SE I NDI CA TE D, A LL E CO NOM IC I NDI CA TO RS A RE S O URCE D FRO M THE U.S B UREA U O F L AB O R S TA TI S TI CS ( B L S ), A LL P OP UL A TI O N GROW TH DA TA I S S O URCE D FRO M THE U. S . CE NS US B URE A U, ALL FO O T TRA F FI C A ND S TO RE RA NK I NG S DA TA A RE S O URCE D FRO M RE A L E S TA TE I NTE L L I G ENCE P OW E RE D BY CRE DI TNTE L L , A ND AL L DE M O G RAP HI C DA TA I S S O URCE D FRO M E S RI . M S A RANKINGS ARE BASED ON PERCENT OF ABR AS OF 2Q21, PROFORMA FOR ALL INVESTMENT ACTIVITY CLOSED, UNDER CONTRACT, OR UNDER NEGOTIATION SUBSEQUENT TO JUNE 30, 2021 INCLUDING EXPECTED PARCEL SALES TO RGMZ COMPARED TO THE RANKING AS OF 1Q21. FOR IMPORTANT INFORMATION REGARDING FORWARD-LOOKING STATEMENTS IN THIS PRESENTATION, SEE SLIDE 2.

FORWARD

LOOKING

STATEMENTS

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as ended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent our expectations, plans or beliefs concerning future events and may be identified by terminology such as "may," "will," "should," "believe," "expect," "estimate," "anticipate," "continue," "predict" or similar terms. Although the forward-looking statements made in this document are based on our good faith beliefs, reasonable assumptions and our best judgment based upon current information, certain factors could cause actual results to differ materially from those in the forward-looking statements. Many of the factors that will determine the outcome of forward-looking statements are beyond our ability to predict or control.

Factors which may cause actual results to differ materially from current expectations include, but are not limited to: our success or failure in implementing our business strategy; economic conditions generally and in the commercial real estate and finance markets specifically; the cost and availability of capital, which depends in part on our asset quality and our relationships with lenders and other capital providers; risks associated with bankruptcies or insolvencies or general downturn in the businesses of tenants; the potential adverse impact from tenant defaults generally or from the unpredictability of the business plans and financial condition of the Company's tenants, which are heightened as a result of the COVID-19 pandemic; changes in governmental regulations, tax rates and similar matters; and other factors detailed from time to time in our filings with the Securities and Exchange Commission ("SEC"), including in particular those set forth under "Risk Factors" in our latest annual report on Form 10-K which you should interpret as being heightened as a result of the numerous and ongoing adverse impacts of COVID-19. Given these uncertainties, you should not place undue reliance on any forward-looking statements. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future.

R P T ACQ U IS IT I O N OV ER V IEW

2

Our Buy Box

Power of the Platform expands our potential pipeline.

Portfolio Quality Accretive

Earnings Accretive

Balance Sheet Accretive

R P T ACQ U IS IT I O N OV ER V IEW

3

Power of the Platform

Over $500 million of new acquisitions across our three distinct yet complimentary platforms.

Facilitates superior capital allocation resulting in enhanced cash flow durability, improved portfolio quality and accelerated earnings growth.

(in millions)

	R2G	RGMZ Total
100%	51.5%	6.4%

Strategic Benefits

Closed

Under

Contract

Under Contract to sell to RGMZ

$152 $174 $5 $331

$42 - - $42

$(71)1- $711-

Accelerates Transformation

• $500 million of gross acquisitions
• First time entrant into the Boston market, which will be RPT's #3 largest market
• Atlanta jumps to #4 from #13

Unlocks larger scale portfolios

• Acquired four property portfolio and syndicated between RPT's platforms
• • RPT: Bellevue Place, Woodstock & Newnan
  • R2G: Eastlake
  • RGMZ: Newnan parcels

Advanced

Contract

Negotiation

Total

RPT

Pro-rata

Share

- $132 - $132

$123 $306 $75 $504

$123 $157 $5 $285

Higher Economic Spreads

• Selling select net leased components to RGMZ significantly enhances retained yields
• Management fees add 40-50 basis points to effective acquisition yields

Enhanced FFO growth

• 2021 OFFO per share guidance increased by ~10% versus initial guidance provided in February 20212

Note: Totals may not add up due to rounding.

R P T ACQ U IS IT I O N OV ER V IEW

4

Accelerated Portfolio Transformation

• Power of the Platform facilitates rapid growth in target and expansion markets, while shrinking reduction markets
• Target markets are university-adjacent,high-growth markets with an outsized tech presence
• First time entrant into the Boston market, which will be RPT's #3 largest market; Atlanta jumps to #4 from #13
• Decreased our market exposure in Detroit, Cincinnati, and Chicago by 5.5%

		MSA Exposure	Proforma MSA
Rank	MSA	Exposure by	Change
as of 3/31/2021
		ABR*
1	Detroit	19.2%	15.9%	(3.3%)
2	Cincinnati	11.1%	9.9%	(1.2%)
3	Boston	0.0%	7.6%	7.6%
4	Atlanta	3.7%	6.5%	2.8%
5	Jacksonville	7.1%	6.5%	(0.6%)

Increasing Market Exposure

Boston	Atlanta
0.0% to 7.6%
	3.7% to 6.5%

Tampa	Nashville
5.8% to 6.2%	5.0% to 5.1%

Decreasing Market Exposure

Detroit, Cincinnati, and Chicago

R P T ACQ U IS IT I O N OV ER V IEW

5