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Investor Presentation Peachtree Hill Duluth, Georgia Fourth Quarter 25
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Safe Harbor and Non-GAAP Disclosures Forward-Looking Statement and Risk Factors This communication contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with the safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, are generally identifiable by use of the words “believe,” “expect,” “intend,” “commit,” “anticipate,” “estimate,” “project,” “will,” “target,” “plan,” “forecast” or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which, in some cases, are beyond the Company’s control and could materially affect actual results, performance or achievements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to, (i) financial disruption, changes in trade policies and tariffs, geopolitical challenges or economic downturn, including general adverse economic and local real estate conditions, (ii) the impact of competition, including the availability of acquisition or development opportunities and the costs associated with purchasing and maintaining assets, (iii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iv) the reduction in the Company’s income in the event of multiple lease terminations by tenants or a failure of multiple tenants to occupy their premises in a shopping center, (v) the potential impact of e-commerce and other changes in consumer buying practices, and changing trends in the retail industry and perceptions by retailers or shoppers, including safety and convenience, (vi) the availability of suitable acquisition, disposition, development, redevelopment and merger opportunities, and the costs associated with purchasing and maintaining assets and risks related to acquisitions not performing in accordance with our expectations, (vii) the Company’s ability to raise capital by selling its assets, (viii) disruptions and increases in operating costs due to inflation and supply chain disruptions, (ix) risks associated with the development of mixed-use commercial properties, including risks associated with the development, and ownership of non-retail real estate, (x) changes in governmental laws and regulations, including, but not limited to, changes in data privacy, environmental (including climate change), safety and health laws, and management’s ability to estimate the impact of such changes, (xi) valuation and risks related to the Company’s joint venture and preferred equity investments and other investments, (xii) collectability of mortgage and other financing receivables, (xiii) impairment charges, (xiv) criminal cybersecurity attack disruptions, data loss or other security incidents and breaches, (xv) risks related to artificial intelligence, (xvi) impact of natural disasters and weather and climate-related events, (xvii) pandemics or other health crises, (xviii) our ability to attract, retain and motivate key personnel, (xix) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms to the Company, (xx) the level and volatility of interest rates and management’s ability to estimate the impact thereof, (xxi) changes in the dividend policy for the Company’s common and preferred stock and the Company’s ability to pay dividends at current levels, (xxii) unanticipated changes in the Company’s intention or ability to prepay certain debt prior to maturity and/or maintain certain debt until maturity, (xxiii) the Company’s ability to continue to maintain its status as a REIT for U.S. federal income tax purposes and potential risks and uncertainties in connection with its UPREIT structure, and (xxiv) other risks and uncertainties identified under Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024. Accordingly, there is no assurance that the Company’s expectations will be realized. The Company disclaims any intention or obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise. You are advised to refer to any further disclosures the Company makes in other filings with the Securities and Exchange Commission (“SEC”). Non-GAAP Disclosure This presentation may include certain non-GAAP measures that the company considers meaningful measures of financial performance. Additional information regarding non-GAAP measures, including reconciliations to GAAP, are included in documents we have filed with the SEC. Definitions of terms not defined in this presentation can be found in our documents filed with the SEC. Investor Presentation: Fourth Quarter 20252 | kimcorealty.com
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Investor Presentation: Fourth Quarter 2025| kimcorealty.com Strategy Overview • Providing essential, necessity-based goods and services to local communities. • Capitalize on our efficiencies and advantages of scale to serve as the best-in-class operator for tenants. • Maintaining a strong balance sheet with ample liquidity. • Expanding a nationally-diversified portfolio located in the high-barrier to entry, first-ring suburbswithin key major metropolitanSun belt and Coastal markets. • Unlocking the highest and best use of real estate through our entitlement program and redevelopment projects through a disciplined capital allocation strategy. As of 12/31/2025 1. Gross Leasable Area 2. Consolidated S&P500 A- / A- / A3 S&P / Fitch / Moody’s Credit Ratings 1958 / 1991 Founded / IPO KIM NYSE Listed $22.6B Total Capitalization2 565 / 100M Properties/Total GLA1 3 Focused on First-Ring Suburbs Within Key Major Metro Markets.
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Investor Presentation: Fourth Quarter 2025| kimcorealty.com One of the only Shopping Center REITs to achieve >5% FFO growth in ‘24 and >6% in ‘25 Kimco Realty® at a Glance Above-Sector Growth at a Below-Sector Multiple Investor Presentation: Fourth Quarter 20254 | kimcorealty.com *as of 12/31/25; 2025 Nareit FFO & P/FFO multiple based on consensus AKR IVT REG FRT PECO UE KIM BRX KRG AVG -10% -5% 0% 5% 10% 10x 11x 12x 13x 14x 15x 16x 17x ’24 – ‘25 Nareit FFO Growth P/FFO Multiple Highest Growth Lowest Cost
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Signed-Not-Open Pipeline $73M ABR1 in Signed Not Opened (“SNO”) pipeline 70% coming on-line 2026 Kimco Realty® at a Glance Multiple Cashflow Growth Drivers Investor Presentation: Fourth Quarter 20255 | kimcorealty.com Est. Portfolio Avg: ~1.5% per year: • Small shop: 3% to 5% per year • Anchors: 10% to 12% (every 5 Years) Small Shop and Anchor Leasing Upside Quarterly new leasing spreads: >10% since 4Q21 Net Effective Rents: +6% year over year 2025 Completed Projects WAVG Blended Yield: • 19% on redev; 11% on anchor repositioning 2026 Expected WAVG Blended Yield: • 11% on redev; 19% on anchor repositioning • Net Neutral shopping center transactions (+100bp reinvestment spread) • $75M to $125M net new structured investments (blended yield 8% to 10%). Contractual Rent Growth Leasing Mark-To-Market Redevelopment and Anchor Repositioning Structured Investment and Select Acquisitions Cashflow 1. Annual Base Rent
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Investor Presentation: Fourth Quarter 2025| kimcorealty.com 2025 Financial Snapshot Kimco Realty® at a Glance 6 1. Incl. preferred stock & pro-rata JV net debt As of 12/31/2025 5.7x Net debt to EBITDA on a look-through basis1 A-/A3 Credit ratings from S&P/Fitch/Moody’; 1 of a select group of REITs 6.7% Growth in FFO/ diluted share over 2024 $2.2B Liquidity, incl. full availability of $2.0B revolver ~80% Recurring AFFO Dividend Payout Ratio ~$150M Annual free cash flow after dividends and leasing and maintenance capex ~9% Yield on common stock repurchases in 2025 7.9YR WAVG debt maturity profile (consolidated)
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Investor Presentation: Fourth Quarter 2025| kimcorealty.com 86% Record-high ABR from grocery- anchored centers 1.2M Square feet of new leasing volume, a record quarterly volume 92.7% Record-high small shop occupancy $73M Record-high Signed Not Opened (“SNO”) pipeline +90bps Highest quarterly increase for Anchor occupancy 30 Anchor leases signed in 4Q25, a record quarterly volume Kimco Realty® at a Glance Strong Operating Environment Driving New Records Investor Presentation: Fourth Quarter 20257 | kimcorealty.com 95.8% 95.4% 96.0% 95.8% 96.4% 93.9% 94.4% 95.7% 96.2% 96.3% 96.4% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Record High Portfolio Occupancy with Further Upside Record Highs
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Investor Presentation: Fourth Quarter 2025| kimcorealty.com Investor Presentation: Fourth Quarter 20258 | kimcorealty.com 2025 Actuals 2026 Outlook Net income: $0.82 $0.80 to $0.84 FFO: $1.76 $1.80 to $1.84 The company’s full year outlook is based on the following assumptions (pro-rata share unless otherwise stated, dollars in millions): Same property NOI growth +3.0% +2.5% to +3.5% Credit loss as a % of total pro-rata rental revenues (74bps) (75bps) to (100bps) Lease termination income $10 $7 to $15 Non-cash GAAP revenues (1) $62 $45 to $50 Consolidated G&A expense, net $133 $128 to $132 Consolidated interest expense and preferred stock dividends $361 $370 to $377 Consolidated mortgage and other financing income, net $50 $45 to $55 Redevelopment capex (2) $83 $100 to $150 Leasing and maintenance capex (3) $305 $275 to $300 Property acquisitions net of dispositions: Acquisitions, weighted average cap rate Dispositions, weighted average cap rate $152 $272; 6.5% $120; 5.4% Net neutral; transaction volume: $300 to $500 6.0% to 7.0% 5.0% to 6.0% Structured investments, net Weighted average yield ($80) 9.1% $75 to $125 8.0% to 10.0% (1) Includes deferred rents, above and below market rents, and straight -line reimbursement income, and excludes debt and derivative mark to market amortization. (2) Includes costs associated with a mixed-use development project, The Chester at Westlake Shopping Center. (3) Includes tenant improvements (TI) and allowances, capitalized external leasing commissions and capitalized building impro vements. Kimco Realty® at a Glance 2026 Earnings Guidance Summary
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Strong Shopping Center Fundamentals Quail Corners Charlotte, NC
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0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Miami San Jose New York San Francisco Orange County Austin San Diego Long Island Fort Lauderdale Palm Beach Orlando Nashville Las Vegas Los Angeles Charlotte Raleigh-Durham Oakland-East Bay Baltimore D.C. Metro Tampa-St. Petersburg New Jersey (Northern) San Antonio Philadelphia Phoenix Dallas / Fort Worth Atlanta Seattle Inland Empire New Jersey (Central) Sacramento Houston Salt Lake City Jacksonville Chicago Denver Boston Pittsburgh Columbus Kansas City Detroit Strong Shopping Center Fundamentals New Development at Historic Lows 1. Greenstreet: Strip Center Sector Update “Steady Despite Macro Gloom”, November 24, 2025 2. Greenstreet: Strip Center Insights “Drawing the Line – Where and When New Developments Pencil”, July 11, 2024. Notes: Only to p 40 markets are displayed; ~$450/SF includes land costs 3. 2025 leased occupancy for Strip Center REITs is based on 3Q 2025 leased rates, the latest data available. Rent Increase Needed to Make Stable Development Economically Feasible2 ~65% market rent increase needed in the Top 50 Markets to produce required returns2 ~$450/SF avg cost of ground-up development2 Investor Presentation: Fourth Quarter 202510 | kimcorealty.com Strip Center Supply Growth vs. Leased Rates 1 1 90% 91% 92% 93% 94% 95% 96% 97% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% Strip Center Supply Growth % Y/Y Strip Center REIT Leased Occupancy % Kimco Leased Occupancy % 1 3
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Strong Shopping Center Fundamentals Ecommerce Boosts Demand for Physical Stores 11 Physical Stores Fulfill Online Orders The Returns Problem 3 Over half of all U.S. retail returns are online ($541B) • E-commerce return rates average ~30%, >2x physical stores. • Returns cost 25 to 30% of an item's value • Brick-and-mortar stores offer lower return rates, better resale opportunities, and a chance to preserve margins. Omni-Channel Shoppers are More Valuable Physical Store Openings Boost Trade Area Sales 6 +6.8% Established Retailers +13.9% Emerging Retailers Markets with the most stores frequently have the highest e-comm growth driven by greater brand awareness & customer engagement across channels.7 1. J.P. Morgan Commercial Real Estate Update, October 2025 2. BofA Nashville Store Tours, October 10, 2025 3. Bloomberg ‘Retailers Try to Solve $1 Trillion Returns Puzzle’, September. 16, 2025 4. Kroger’s Q2 Earnings Call, September 11, 2025 2015 2019 2022 2024 30% 25% 20% 15% 10% 5% 0% Online orders fulfilled by omni-channel methods1 Physical stores provide convenience that online-only channels cannot, serving as hubs for same-day pickup, returns, and click-and-collect, while reducing last-mile costs and driving incremental sales. “Now delivers to 95% of households in <3hrs and can deliver food profitably.”2 “People enter our ecosystem through eComm, they then shop the entire ecosystem and they become more valuable customers to us overall.”4 “Overall, omni-channel customers have grown nearly 25% YoY with high retention levels.”5 5. Koninklijke Ahold Delhaize Q1 Earnings Call, May 7, 2025 6. ICSC “The Halo Effect III”, December. 18, 2023 7. Warby Parker Earnings Call, August. 7, 2025 Investor Presentation: Fourth Quarter 202511 | kimcorealty.com
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Strong Shopping Center Fundamentals Retailer Expansion Drives Growth Source: Company releases, media reports Anchor (10K+ SQFT) Grocers Small Shop (<10K SQFT) Investor Presentation: Fourth Quarter 202512 | kimcorealty.com
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San Marcos Plaza San Marcos, CA High Quality, Necessity-based Operating Portfolio
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High-Quality, Necessity-Based Operating Platform National Presence with Specialized Local Insight 82% of Annual Base Rent (ABR) from Top Major Metro Markets1 1. Markets noted on the map are Kimco Realty’s top major metropolitan markets by percentage of pro-rata ABR as of 12/31/2025 2. Represents 3-mile pro-rata ABR weighted portfolio demographics as of 6/30/25 3. Popstats 2024 full demographic report Investor Presentation: Fourth Quarter 202514 | kimcorealty.com San Francisco Sacramento San Jose Seattle Los Angeles Orange County San Diego Phoenix Denver TampaAtlanta Miami Fort Lauderdale Orlando Boston New York Philadelphia Raleigh-Durham Baltimore Washington D.C. Dallas HoustonAustin/San Antonio Charlotte 3 5 4 2 1 Jacksonville Portfolio Statistics • 565 Properties • 100M GLA • $21.20 ABR/SF • 86% of ABR from grocery-anchored portfolio • 91% of ABR within Sun Belt and/or coastal markets New lease rents trending 26% greater over the TTM compared to other markets. 3-Mile Demographics2 • 121K Estimated population • $101K Median income – 27% above national average3 • 42% Bachelor degree or higher – 21% above national AVG3 • Unemployment Rate 22% Better than National Average3
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First-Ring Suburbs: Optimal Zone The convergence of strong demographics, operational efficiency, & scalable economics—with minimal complexity. • High population density and affluent households • High barriers to entry: Land scarcity and zoning constraints • Strong value creation driven by mixed-use entitlements and redevelopment High-Quality, Necessity-Based Operating Platform The Sweet Spot of Retail Where Operational Excellence Meets Market Fundamentals Investor Presentation: Fourth Quarter 202515 | kimcorealty.com First-ring suburbs reduce urban operating friction while preserving the demographic strength and market validation secondary markets lack, becoming the sweet spot of capital efficiency and consumer quality. Dense Urban Core Limited real estate availability, premium land costs, municipal complexity, parking and logistics challenges, and a higher regulatory burden introduce significant friction. Secondary & Tertiary Markets Lower-density, dispersed markets with unproven demand, operational challenges at scale, limited clustering benefits, higher capex per unit, and often the first places retailers consolidate or exit.
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High-Quality, Necessity-Based Operating Platform The Sweet Spot of Retail Investor Presentation: Fourth Quarter 202516 | kimcorealty.com Top Tenants Grocery or Off-Price Positioned Where Consumers Spend Most Consistently Portfolio concentration supports resilient traffic and demand through cycles. Grocery-anchored ABR as % of total of new leases were service- based over the TTM* 70% 86% 7 of 10 Grocery Off-Price Services 1. Trailing Twelve Months
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High-Quality, Necessity-Based Operating Platform Portfolio Breakdown: Anchor & Small Shop Tenancy 47% of Kimco’s ABR is derived from small shop tenants (<10K SF), comprised primarily of: • Restaurants (quick serve, fast casual and full service) • Beauty Supplies and Personal services (salons, beauty merchandisers, weight services) • Professional and Financial Services (accounting/tax prep, courier services, veterinary/grooming, banking) • Medical and fitness (doctors, dentists, urgent care facilities and boutique fitness) • Other Necessity & Off-price (grocery, off-price and discount) Data as of 12/31/2025 Restaurants 33% Beauty Supplies and Personal Services 14% Professional and Financial Services… Medical & Fitness 13% Other Necessity & Off-price 13% Other misc. 7% Apparel, 6% Small Shop % of Pro-rata Small Shop ABR Small Shop 47%Anchor 53% Total Portfolio Composition % of Pro-rata ABR Investor Presentation: Fourth Quarter 202517 | kimcorealty.com Other Services 3%Apparel 5%Sporting Goods / Hobbies, 8% Medical & Fitness 10% Other Necessity & Off-price 9% Other misc. 15% Off-Price & Dollar/Discount 21% Grocery & Beverage 29% Anchor % of Pro-rata Anchor ABR Top 50 Small Shop Tenants by Pro-rata ABR% are all National
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High-Quality, Necessity-Based Operating Platform Continued Strength in Leasing Future Leasing Upside • Spreads on new anchor leases expected to remain elevated • 47 anchor leases expiring through 2026 with no further options (“naked leases”) @ $15.19 WAVG ABR/SF • MTM of ~30% • 9% of pro-rata ABR from ground leases with mark to market of ~70% Recently Leased Tenants Investor Presentation: Fourth Quarter 202518 | kimcorealty.com 29.0% Pro-rata rent spread on comparable new leases 3%+ / 4%+ Annual rent bumps on 81% / 38% of small shop leases in 4Q +3% YoY ABR/SF growth +6% Increase in TTM Net Effective Rents YoY +42% Anchor new lease spreads TTM +20% Small shop new lease spreads TTM
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$51 $29 $12 $30 FY 2026 FY 2027 Cash From Prior Period Commencements ** * * High-Quality, Necessity-Based Operating Portfolio Visible Future Cash Flow Growth Signed Not Open (SNO) Spread = Embedded Rent Growth Record high: $73M of ABR at 12/31/2025, 390bp spread • All incremental to revenue (does not include upside to recovery income of 20-25%) • SNO Timing: 38% 1H26, 32% 2H26, 24% 2027, 6% in 2028 • Redevelopment contribution: 23% • Backfill of recaptured spaces (Party City, Conn’s Rite Aid, JOANN and Big Lots): 21% • Anchor boxes: 60%; Shop spaces: 40% Investor Presentation: Fourth Quarter 202519 | kimcorealty.com $28 $51 $28 $23 $22 1H26 2H26 FY 2027+ Prior Period Commencements Future Commencements * Expected Timing of Commencements ($M ABR) • +15% in 2025 SNO cash flows (~$31M vs. ~$25M initial expectations) • Economic occupancy remains 180bps from record high, demonstrating upside 70% of SNO ABR is expected to commence in 2026 $73M $51M Expected Cash Flow Receipts ($M) $63M$59M *Cash flow receipts incremental to 2026 related to ABR commence in 2025 and therefore not included in the current $73M SNO.
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Airport Plaza Farmingdale, NY Accretive Capital Allocation
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Accretive Capital Allocation Accretive Recycling Investor Presentation: Fourth Quarter 202521 | kimcorealty.com Strategy • Sell low-growth, low-cap rate assets • Redeploy into higher growth assets via acquisitions and Structured Investment Program • Crystallizing the value creation of mixed-use assets through monetization 1. Pro-rata share of remaining 85% 2. $38 million of 1031-exchange proceeds were reinvested in Tanasbourne Village and $12 million in a portion of The Shoppes at 82nd Street. External Growth via Capital Recycling Advantage Sold Redeployed Assets Home Depot Plaza, Santa Ana, CA Tanasbourne Village, Hillsboro, OR Characteristics Low-growth, low-cap rate assets Higher growth asset via acquisition, utilizing 1031 proceeds Total pro-rata price $50M2 $66M ($38M net of debt) Cap rate 5.2% 6.2% (+100bps) (Expected) CAGR 1% 3% (+200bps) Case Study Tanasbourne Village: A 99%-occupied, 207K SQFT, dual grocery-anchored center Capital Allocation and Returns 2025: $152M Acquisitions, net • $272M Acqns., 6.5% cap rate • ($120M) Dispos., 5.4% cap rate 2026 Assumptions: Net neutral shopping center transactions; ~$300M to $500M transaction volume • Acqns.: 6.0% to 7.0% WAVG cap rate • Dispos.: 5.0% to 6.0% WAVG cap rate
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Accretive Capital Allocation Accretive Recycling Investor Presentation: Fourth Quarter 202522 | kimcorealty.com Strategy • Building a strategic acquisition pipeline • Provides capital to third party owners of high-quality retail real estate earning above AVG returns. • ROFO/ROFR* to buy on every investment Unique to Kimco: Structured Investment Program Case Studies: Capital Allocation and Returns 2025: ($80M) Structured Investments, net, 9.1% blended rate • $260M New Capital • ($334M) Repayments 2026 Assumptions: $75M to $125M Net structured investments, net • 8.0% to 10.0% WAVG yield The Markets at Town Center A 97%-occupied, 254,000 SQFT, Sprouts- anchored center in Jacksonville, FL Shoppes at 82nd Street A 100%-occupied, 59,000-square-foot, Target-anchored center in Jackson Heights, NY (used 1031 proceeds) $15M Investment 0% Exp. CAGR 9% Yield $108M Purchase 3% Exp. CAGR 7% Cap rate $15M Investment 0% Exp. CAGR 9.5% Yield $74M Purchase 3% Exp. CAGR 6% Cap rate
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Investor Presentation: Fourth Quarter 2025| kimcorealty.com Accretive Capital Allocation Value Creation: Grocery-Focused Redevelopment Active Projects (17 of 34 Active Projects Are Grocery-Focused) 1. Est. WAVG Blended Stabilized Yields are net of any credits or fees earned by owner 2. For those that report sales 23 2025 Projects (9 Grocer Conversions in 2025) La Verne Towne Center La Verne, CA Completed 4Q25 72% 74% 77% 78% 78% 80% 81% 82% 84% 86% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Highly Productive: ~$815/SF AVG KIM Grocer Sales2 ABR from grocery-anchored shopping centers has grown to a record level of 86%11% Yield on Repositioning 9 Projects / $57M Gross Costs 19% Yield on Redev 12 Projects / $22M Gross Costs 15-20% Exp. Yield on Repositioning 12 Projects / $47M Gross Costs 10-12% Exp. Yield on Redev 22 Projects / $193M Gross Costs
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Investor Presentation: Fourth Quarter 2025| kimcorealty.com 3,505 345 10,346 Built/Rent Flowing Active Entitled Project Spotlights - 7.0% to 9.0% WAVG Blended Stabilized Yield1 2 1. Est. WAVG Blended Stabilized Yields are net of any credits or fees earned by owner 2. Est. WAVG Blended Stabilized Yields are shown as yield on Kimco's equity to reflect the ground lease and preferred equity s tructure. 24 Coulter Place @ Suburban Square Ardmore, PA • 131 Multifamily units, 19K SF of retail • 2026 Estimated Completion • Gross Costs: $106M • 50% Ownership Accretive Capital Allocation Value Creation: Mixed-Use Redevelopment The Chester @ Westlake Daly City, CA • 214 Multifamily units, 10K SF of retail • 2028 Estimated Completion • Gross Costs: $153M • 75% Ownership Preferred equity mixed-use developments with the Bozzuto Group with Kimco contributing entitled land at a marked-up value; reducing capital outlay and earnings drag Near-Term Opportunities • 3,710 multifamily units and 120K SF of retail • Activation expected to occur within a three-year period 657 New Multifamily Units Entitled in 4Q; 14K+ Total
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Wexford Plaza Pittsburgh, Pennsylvania Appendix
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Grocery & Beverages, 17% Off-Price, 10% Restaurants, 16% High-Quality, Necessity-Based Operating Platform Portfolio Breakdown: Retailer Categories Data as of 12/31/2025 *Trailing 12 Months Investor Presentation: Fourth Quarter 202526 | kimcorealty.com Banking / Finance 3% Medical 4% Professional Service 4% Health / Fitness 5% Personal Service 6% 3% Home Improvement 3% Pet Stores / Veterinary 3% Dollar / Discount Stores 2% Pharmacy / Medical Supply / Health Store 2% Other Necessity Goods (Phones, Auto Supply, Gas) SERVICE: 38% OTHER: 22% DISCOUNT & NECESSITY GOODS: 40% % of Pro-rata ABR 70% of new leases were service-based over the TTM* 78% of ABR from Discount & Necessity Goods and Services 19% of ABR is derived from local tenants vs. national/regional Beauty / Personal Care Supplies 2% Entertainment / Gathering Place 2% Furniture / Home Furnishings 3% Other (Electronics/Appliances, Books, Office) 4% Sporting Goods / Hobbies 5% Apparel 6%
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High-Quality, Necessity-Based Operating Platform Highly Diversified Tenant Base Strong Credit Profile with 7 of 10 Top Tenants Grocery or Off-Price ❖ Investor Presentation: Fourth Quarter 202527 | kimcorealty.com 3.8% 1.9% 1.8% 1.8% 1.7% 1.6% 1.6% 1.4% 1.3% 1.2% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% ❖ ❖ ❖ ❖ ❖ ❖ ❖ Leases S&P Moody’s 183 107 66 33 48 76 2723 41 38 A BB+ AA B+ ABB+ BBB+ A2 BBBBBB+ A2 Baa1A2 Ba1 A1 Ba1 B2 Baa1 Baa2 BBB
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11% 9% 7% 10% 6% 7% 7% 8% 6% 6% 6% 17% 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Thereafter Consolidated Unsecured Consolidated Secured JV Unsecured JV Secured 1. Pro-rata share of JV debt 2. Weighted Average 3. KIM’s pro-rata share of JV debt As of 12/31/2025. Percentages are annual maturities of total pro -rata debt stack. Loan extensions are assumed when options exist . Investor Presentation: Fourth Quarter 202528 | kimcorealty.com Debt Profile: Consolidated JV1 Fixed Rate (99.8% of outstanding Cons. Debt) 4.00%2 4.84%2 Floating Rate (0.2% of outstanding Cons. Debt) 5.17%2 5.35%2 WAVG Term 7.9yrs 2.5yrs Secured Debt 6% 72% Unsecured Debt 94% 28% 3 3 Significant Financial Strength Well-Staggered Debt Maturity Profile Capital Markets Strength • 92 bp spread on June 2025, long 10-year refinancing • A-/A3 rated from all three major rating agencies
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29 2024 RPT Merger: Synergies & Performance Exceed Underwriting • Swift execution & integration: Acquired RPT in Jan. 2024 ($2.2B, 56 properties, 13M sf) at ~8.50% implied cap rate with full integration completed in just 6 weeks • Seamless operational transition: Leasing calls taken 24hrs after closing • Accelerated synergy capture:Realized scale efficiencies ahead of schedule through reduced office footprint, streamlined staffing, and consolidated service contracts Investor Presentation: Fourth Quarter 202529 | kimcorealty.com Current At Acquisition Gains Overall Occupancy 96.2% 94.9% +130bps Small Shop Occupancy 92.1% 88.4% +370bps Grocery-anchored ABR 89% 72% +17% Accretive Capital Allocation RPT Successful Integration $36M Yr 1. Cost Synergies; ~12% better than underwriting RPT Kimco RPT Comp 2025 SSNOI +3.8% +3.0% +80bps 2024 SSNOI +6.2% +3.5% +270bps