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kimcorealty.com Investor Presentation West Broward Shopping Center Plantation, Florida Second Quarter 2026 kimcorealty.com
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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” and elsewhere in our most recent Annual Report on Form 10-K and in the Company’s other filings with the Securities and Exchange Commission (“SEC”). 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 or related subjects in the Company’s quarterly reports on Form 10-Q and current reports on Form 8-K that the Company files with the SEC. Certain forward-looking and other statements in this communication, or other locations, such as our corporate website, contain various corporate responsibility standards and frameworks (including standards for the measurement of underlying data) and the interests of various stakeholders. As such, such information may not be, and should not be interpreted as necessarily being, “material” under the federal securities laws for SEC reporting purposes, even if we use the word “material” or “materiality” in this document. Corporate Responsibility information is also often reliant on third-party information or methodologies that are subject to evolving expectations and best practices, and our approach to and discussion of these matters may continue to evolve as well. For example, our disclosures may change due to revisions in framework requirements, availability of information, changes in our business or applicable governmental policies, or other factors, some of which may be beyond our control. 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: Second Quarter 20262 | kimcorealty.com
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Kimco at a Glance NYSE: KIM S&P 500 A- / A3 Credit Rated 564 Properties 100M SF Gross Leasable Area $26B Total Capitalization 96.4% Portfolio Occupancy Value Creation Unlocking the highest and best use of our real estate through strategic entitlements and redevelopment projects, supported by disciplined capital allocation. Best in-Class Operations Capitalizing on our efficiencies and advantages of scale to serve as the best-in-class operator for tenants. First-Ring Suburb Strategy Expanding a nationally-diversified portfolio located in the high-barrier to entry, first-ring suburbs within key major metropolitan Sun belt and Coastal markets Balance Sheet Strength Maintaining a strong balance sheet with ample liquidity. Necessity-Based Focus Providing essential, necessity-based goods and services to local communities. Investor Presentation: Second Quarter 20263 | kimcorealty.com
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2026 Strategic Pillars 01 Embedded Growth Engine • Contractually scheduled rent increases • Marking rents to market for further upside • Record pipeline of Signed Not Open ("SNO") leases • Redevelopment & anchor repositioning generating incremental value 02 Platform Power & Efficiency • Grocery-anchored properties in dense, affluent first-ring suburban trade areas • A fixed CAM framework providing greater reimbursement stability and administrative efficiency • Portfolio-level leasing alongside national and regional retailers • Proven entitlement expertise unlocking highest and best use 03 Disciplined & Accretive Capital Allocation • Redeploy low-growth, low-cap ground leases and mixed-use assets into faster-growing shopping centers • Structured Investment Program high-yield investments carrying ROFO/ROFR on every deal • Opportunistic use of ATM issuance and share repurchases to maximize shareholder value Investor Presentation: Second Quarter 20264 | kimcorealty.com
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Why Kimco Realty? Best-in Class Grocery Anchor Quality • 87% grocery-anchored ABR, record level and growing • $815/SF average grocer sales2 Sector-Leading FFO Growth at Below-Sector Multiple • One of the only Shopping Center REITs to achieve >5% FFO growth in ‘24 and >6% in ’25 • Attractive total shareholder return supported by a growing dividend and one of the highest yields among shopping center REITs Record Occupancy with Rent Growth Upside • 96.4% portfolio occ. matching all-time high; 92.9% small shop occ., new record-high • $75M Signed Not Open (SNO) pipeline, 48% commencing in 2H26 • 19 consecutive quarters with double digit growth in new lease spreads Investment-Grade Balance Sheet and Liquidity • A- / A3 credit ratings • $2.7B of immediate liquidity; 5.2x consolidated net debt to EBITDA1 • Well staggered debt maturity profile with WAVG consolidated maturity 7.4 yrs Disciplined Accretive Capital Recycling • +100 bps reinvestment spread on transactions • Structured investment pipeline with ROFO/ROFR access. Exceptional Demographic • First-ring suburb focus; $112K median income3 • Q2 traffic up ~3% YoY4 High-Quality Necessity-Based Portfolio Generating Consistent, Visible Growth at a Discounted Price 1. 5.5x which incl. preferred stock & pro-rata JV net debt 2. For those that report sales 3. Represents 3-mile pro-rata ABR weighted portfolio demographics as of 12/31/25 4. Placer.AI data pulled July 8, 2026 Investor Presentation: Second Quarter 20265 | kimcorealty.com
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AKR IVT FRT REG UE PECO KIM SPG AVB EQR VNO -2% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 13x 14x 15x 16x 17x 18x Growth (Nareit FFO 2024–2026E) Valuation (2026E FFO Multiple) Growth at a Reasonable Price (GARP) Dividend Yields As of 6/30/26; 2026 FFO based on consensus. *Updated for 8/4/26 dividend announcement Shopping Center REITs Large-Cap REITs (Industrial, Office, Residential, etc.) Cheap / Low Growth Expensive / Low Growth Expensive / High Growth Cheap / High Growth Indicates REITs holding at least one A-level issuer credit rating (Moody’s, S&P, or Fitch) Kimco offers consistent growth and a discounted multiple at an attractive yield with a growing common dividend KIM 4.4%* EQR 4.1% SPG 4.0% AKR 3.8% REG 3.8% AVB 3.8% UE 3.7% FRT 3.7% PECO 3.1% IVT 2.8% VNO 1.9% Investor Presentation: Second Quarter 20266 | kimcorealty.com
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Strong Fundamentals Differentiated Portfolio Quail Corners Charlotte, NC
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Strong Fundamentals Differentiated Portfolio Advantages of Scale National Accounts & Portfolio Deals • National tenant relationships enhances reimbursement collections, reduces collection periods, and lowers bad debt reserves • Package deals enable retailers to sign multiple locations in one negotiation, compressing deal timelines, reducing friction and deepening retailer relationships 85% of AR disputes cleared 78 leases / 18 retailers via package deals, 2025-2026 G&A Efficiencies & Data Insights • FFO growth outpacing G&A levels through operating efficiency and scale, supporting healthy margins • Tech & AI deployed enterprise-wide at scale, not in pilot Ancillary Income • Incremental revenue streams (i.e. temp & incubator leases, EV charging, parking lot activations) • Yields high margins with minimal TI costs leasing costs • Drives incremental traffic Procurement & Fixed CAM • Bulk purchasing power drives cost control and standardized maintenance • Predictable fixed costs for tenants; efficiency gains flow directly to NOI – reduced administrative burden With 564 shopping centers and mixed-use assets, Kimco's industry-leading scale reinforces its competitive advantages, including superior access to capital, operating efficiencies, and retailer partnerships. FFO CAGR +5.3% >100% 5-Yr PSF revenue growth Investor Presentation: Second Quarter 20268 | kimcorealty.com 75% of Q2 new lease GLA is fixed CAM; 40% of portfolio GLA +7.0 pts Operating leverage spread G&A CAGR (1.7%) growth expense decline
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Strong Fundamentals Differentiated Portfolio National Footprint in First-Ring Suburbs 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 6/30/2026 2. CBRE Research, "Retail Rent Growth Supported by Drop in New Supply," Q1 2026 U.S. Retail Figures, April 2026. 3. Trailing Twelve Months 4. Represents 3-mile pro-rata ABR weighted portfolio Popstats demographics as of 12/31/25 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 First-Ring Suburbs Strong demographics · Operational efficiency · Scalable economics • High population density and affluent households • 91bps Suburban availability decrease since 20222 • High barriers to entry: Land scarcity & zoning constraints • 4.9% Retail availability, near historic lows2 • Strong value creation driven by mixed-use entitlements and redevelopment Portfolio Statistics • 91% of ABR within Sun Belt and/or coastal markets • TTM3 new lease rents 29% above other markets • 3-Mile Demographics4 • 126K Estimated population • $112K Median income • 46% Bachelor degree or more, 31% > USA avg. Investor Presentation: Second Quarter 20269 | kimcorealty.com
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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 Fundamentals Differentiated Portfolio New Development at Historic Lows 1. Greenstreet: 1Q26 Strip Center Sector Update “Capital Chasing Fundamentals”, May 19, 2026 2. Greenstreet: Strip Center Insights “Drawing the Line – Where and When New Developments Pencil”, July 11, 2024. Notes: Only top 40 markets are displayed; ~$450/SF includes land costs Rent Increase Needed to Make Stable Development Economically Feasible2 ~65% market rent increase needed in the Top 50 Markets to produce required returns 2 ~$450/SF avg cost of ground-up development2 Strip Center Supply Growth vs. Leased Rates 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 (left axis) Strip Center REIT Leased Occupancy % (right axis) Kimco Leased Occupancy % (right axis) 1 1 Investor Presentation: Second Quarter 202610 | kimcorealty.com
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+13.9% online sales lift when emerging retailers open stores5 ~65% Strong Fundamentals Differentiated Portfolio Physical Stores Drive Retailer Profitability 1. Bloomberg “Retailers Try to Solve $1 Trillion Returns Puzzle”, Sept. 16, 2025 2. National Retail Federation, “Consumers Expected to Return Nearly $850 Billion in Merchandise in 2025,” Oct. 15, 2025. 3. Supply Chain Management Review, “Unlocking the Last Mile: A Strategic Framework for In- Store Fulfillment,” Nov. 6, 2025. THE CHALLENGE E-Commerce Is Essential, But Fulfillment Is Costly 25-30% of an item’s value is lost to returns1 $850B in annual U.S. online returns2 50%+ of e-commerce fulfillment costs are driven by last-mile delivery3 4. ICSC, “Brick-and-Mortar Shopping Drives Lower Return Rate Than Online,” Mar. 19, 2024. 5. ICSC, “The Halo Effect III”, Dec. 18, 2023. 6. ICSC, “ICSC’s 2025 Holiday Shopping Intentions Survey Finds Resilient Consumers Seek Value and Experiences,” Oct. 7, 2025. THE SOLUTION Stores Solve the Fulfillment Equation THE MULTIPLIER Stores Compound Online Growth of BOPIS shoppers make an additional in-store purchase6 ~3x lower in-store return rates enable faster resale, & margin preservation4 Investor Presentation: Second Quarter 202611 | kimcorealty.com
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7 / 10* Top tenants are grocery or off-price 81% of ABR from National/Regional tenants Discount & necessity goods 40% Grocery & beverages 17% Off-price 10% Home Improvement 3% Pet Stores / Veterinary 3% Dollar / Discount Stores 3% Pharmacy / Medical Supply / Health Store 2% Other Necessity Goods (Phones, Auto Supply, Gas) 2% Service 38% Restaurants 16% Personal service 6% Health / Fitness 5% Medical 4% Professional service 4% Banking / Finance 3% Other 22% Apparel 6% Sporting Goods / Hobbies 5% Other (Electronics / Appliances, Books, Office) 4% Furniture / Home furnishings 3% Entertainment / Gathering Place 2% Beauty / Personal Care Supplies 2% Top 10 tenants by ABR Leases % ABR S&P 1 TJX Companies* 180 3.7% A 2 Ross Stores* 109 2.0% A- 3 Burlington Stores* 69 1.8% BB+ 4 Amazon/Whole Foods * 34 1.8% AA 5 Albertsons* 48 1.7% BB+ 6 Pet Smart 76 1.6% B+ 7 Home Depot 23 1.6% A 8 Ahold Delhaize* 27 1.4% BBB+ 9 Dick's Sporting Goods 41 1.3% BBB 10 Kroger* 38 1.2% BBB Total 645 18.1% 72% of new leases were service-based over the TTM Investor Presentation: Second Quarter 202612 | kimcorealty.com Strong Fundamentals Differentiated Portfolio 78% of ABR - Discount & Necessity Goods + Services
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Strong Fundamentals Differentiated Portfolio Portfolio Breakdown: Anchor & Small Shop Tenancy 48% 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) Top 50 Small Shop Tenants by Pro-rata ABR% are all National Restaurants 33% Beauty Supplies and Personal Services 14% Professional and Financial Services 14% Medical & Fitness 13% Other Necessity & Off-price 13% Other misc. 7% Apparel 6% Small Shop % of Pro-rata Small Shop ABR Small Shop 48% Anchor 52% Total Portfolio Composition % of Pro-rata ABR 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 Investor Presentation: Second Quarter 202613 | kimcorealty.com Data as of 6/30/2026
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Strong Fundamentals Differentiated Portfolio Necessity-Based Tenancy Drives Durable Traffic Recurring traffic through every economic cycle 40%+ Grocery trips <15 minutes, up from 37.9% in ‘22; increasing visit frequency and sustaining traffic center-wide. 2 4.1% Low U.S unemployment – under scoring broad- based consumer health supporting center traffic.3 1. ICSC research, cited in CBRE, “Grocers Adding More Stores to Meet Rising Consumer Demand,” April 16, 2026. 2. Placer.AI, "Grocery Growth Drivers in 2026: How Expanded Supply, Trip Frequency, and Shopping Missions Are Reshaping Food Retail," The Anchor, Feb. 2026. 3. Bloomberg, "US Payroll Growth Beats Forecasts, Jobless Rate Drops to 4.1%," July 3, 2025. 4. Placer.AI. All Shopping Centers includes all of Placer.AI's shopping center data nationwide. Data pulled July 8, 2026. 5. J.P. Morgan, "Matt's Macro Monitor: June Consumer Spending – Key Takes," North America Equity Research, July 13, 2026. 3x More annual customers at grocery-anchored vs. unanchored centers, driving 15%-25% higher adjacent in-line rents.1 Investor Presentation: Second Quarter 202614 | kimcorealty.com -1.0% 5.0% Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 KIM 2026 YoY Traffic growth up ~3% KIM All Shopping Centers 4 0.00% 8.00% Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 7 Consecutive Months of Spending Acceleration Across Both High & Low Income ConsumerLower Income (%) Upper Income (%) 5
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Category Expansion Reason Discount & Off-Price Each targeting 100+ new stores per year Specialty Grocery Targeting ~10% annual new store growth Discount Grocery Aldi scaling toward 800 stores by 2028 QSR Path to 2,000 shops by 2029 Furniture Funding national growth post-IPO Health & Fitness Scaling clubs ahead of planned IPO Discount Retail Path to 3,500+ stores long term Strong Fundamentals Differentiated Portfolio Retailer Demand Remains Deep & Broad-Based Broad-Based Demand Across Categories & Box Sizes • 2026 expected store openings +1.3% YoY, led by restaurants, off-price, hardlines, discounters & beauty1 • Big box retailers actively expanding again led by Costco, Walmart, Target, Home Depot • Grocery remains one of the deepest demand pools — traditional, specialty, ethnic & discount formats • ~$815/SF avg KIM grocer sales drive co-tenancy2 • Off-price expanding fastest — TJX, Ross, Burlington each adding 100+ boxes/year • Service-based leasing accounted for 72% of KIM new leases over the TTM • 19 consecutive quarters of KIM new lease spreads >10% Examples of Kimco’s national platform supporting multi-market expansion and repeat retailer demand Strong Tenant Retention and Expansion • 78 package leases across 18 retailers from 2025 to 2026, representing ~18% of new lease GLA • 92% retention by GLA (excl. BNK) • 65 fewer vacates YoY • 461 deals, 2.5M SF leased in 2Q 2026 • 94% of 2026 expiring ABR already resolved • Signing leases for 2028+, reflecting long-term retailer commitment & extended lease terms Investor Presentation: Second Quarter 202615 | kimcorealty.com 1. Telsey Advisory Group, "TAG Insights: Store Opening & Closing Analysis," April 14, 2026. 2. For those that report sales
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Strong Fundamentals Differentiated Portfolio Leasing Execution Is Delivering & Accelerating Compounding into Visible NOI Growth Mark-to-market (MTM) opportunities • 22 anchor leases expiring through 2026 with no further options (“naked leases”) @ $13.11 WAVG ABR/SF — MTM of ~36% • 9% of pro-rata ABR from ground leases with MTM of ~65% • Spreads on new anchor leases expected to remain elevated • Online sales attributable to physical stores support retailers' ability to pay higher rents Occupancy upside • Anchor occupancy is 110bps below our all-time high of 98.9% • Small shop occupancy is driven by anchor lease-up • Tenant watchlist is at multi-year lows, reflected in lowered credit loss guidance 2Q Leasing Success • 6% increase in net effective rents over the TTM, and 3%+ ABR/SF CAGR over the trailing 2 years • 3%+ / 4%+ annual rent bumps on 84% / 35% of small shop new leases • 40.4% pro-rata rent spread on comparable new leases • 73% anchor and 23% small shop new lease spreads — proof demand exists to fill remaining space • 161 new deals signed Investor Presentation: Second Quarter 202616 | kimcorealty.com
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$36 $68 $36 $32 $7 2H26 FY 2027 FY 2028 Prior Period Commencements Future Commencements $9 $47 $19 $24 FY 2026 FY 2027 FY 2028+ Strong Fundamentals Differentiated Portfolio Visible Future Cash Flow Growth $75M of ABR at 6/30/2026, 400 bp spread • Signed Not Open (SNO) Spread = Embedded Rent Growth • All incremental to revenue (does not include upside to recovery income of 20-25%) • SNO Timing: 48% 2H26, 43% 2027, 9% in 2028 • Redevelopment contribution: 22% • Backfill of recaptured spaces (Party City, Conn’s Rite Aid, JOANN and Big Lots): 21% • Anchor boxes: 59%; Shop spaces: 41% Investor Presentation: Second Quarter 202617 | kimcorealty.com Expected Timing of Commencements ($M ABR) • +16% 2026 SNO cash flows ($33M vs. $28.5M initial expectations) • ~$20M of additional ABR from leases signed and not reflected in the $75M SNO pipeline. This is attributable to either (i) leases signed in which an existing tenant still remains in the space; or (ii) rent from new construction, which is excluded from occupancy until delivered. 48% of SNO ABR is expected to commence in 2H26 $75$68 Expected Incremental Cash Flow Receipts ($M) Incremental receipts from 1H26 commencements, not part of SNO Rent cash flow timing for $75M SNO as of 6/30/26 $33 *Cash flow receipts incremental to 2026 related to ABR which commenced in 1H26 and is therefore not included in the current $75M SNO. $55 $8 Economic occupancy remains 190 bps below prior peak levels, providing embedded growth potential
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Airport Plaza Farmingdale, NY Accretive Capital Allocation
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Accretive Capital Allocation 2026 Capital Allocation YTD Actuals (Through 7.31.26) Base Plan Sources of Capital Amount (Ms) Yields Amount (Ms) Implied Yield Free Cash Flow1 $80 3.5% $150 to $165 3.5% Asset Sales $261 5.1% $300 to $500 5.0% to 6.0% Total for Accretive Deployment $341 4.7% $450 to $665 4.5% to 5.4% Allocation of Capital Amount (Ms) Yields Amount (Ms) Implied Yield Acquisitions & JV Buyouts $109 5.7% $300 to $500 6.0% to 7.0% Structured Investments (net) $8 9.6% $75 to $125 8.0% to 10.0% Redevelopment $82 10.8% $100 to $150 9.0% to 11.0% Total Deployment $199 8.0% $475 to $775 7.2% to 8.5% 1. After dividends and leasing and maintenance capex Driving FFO & NOI Growth • Recycling low-growth assets into accretive deployments drives FFO/share growth and lifts same-property NOI trajectory • Leverage-neutral recycling $100M+ above base • Opportunistically undertaking stock buyback and utilizing ATM Program Strengthening Portfolio Quality & Efficiency • Disposing of at-risk tenancies reduces credit loss risk; improves quality metrics • Maintaining 87%+ grocery-anchored ABR preserves portfolio stability • Leveraging 1031 exchanges to maximize tax efficiencies on dispositions Recycling Priorities Investor Presentation: Second Quarter 202619 | kimcorealty.com
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SOLD Home Depot Plaza Santa Ana, CA AQUIRED Tanasbourne Village 1 Hillsboro, OR Accretive Capital Allocation Case Study: Accretive Recycling in Action 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. Transaction Sold Acquired using 1031 proceeds Cap Rate 5.2% 6.2% (+100bps) Expected CAGR <1% 3%+ (>200bps) Total pro-rata price $50M2 $66M ($38M net of debt) Anchor Low-growth Dual Grocery – 99% occupied Source Ground-Lease Joint Venture Tanasbourne Village: A 99%-occupied, 207K SQFT, dual grocery-anchored center Investor Presentation: Second Quarter 202620 | kimcorealty.com
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• Provides capital to third-party owners of high-quality retail real estate earning above- average returns • Right of First Offer / Right of First Refusal to buy on every investment • Yield range: 9.0% to 10.0% Pompano Marketplace Pompano , FL Acquired Jul '26 89% occ. 239K SF Walmart-anchored STRUCTURED INVESTMENT $35M 0% Exp. CAGR 8.0% yield (senior position) PURCHASE PRICE $53M 3.6% Exp. CAGR (+360bps) 5.7% cap rate Shoppes at 82nd Street Jackson Heights, NY Acquired Dec '25 100% occ. 59K SF Target-anchored INVESTMENT $15M 0% Exp. CAGR 9.5% yield PURCHASE $74M 3.0% Exp. CAGR (+300bps) 6.0% cap rate The Markets at Town Center Jacksonville, FL Acquired Jan '25 97% occ. 254K SF Sprouts-anchored INVESTMENT $15M 0% Exp. CAGR 9.0% yield PURCHASE $108M 3.0% Exp. CAGR (+300bps) 7.0% cap rate Unique to Kimco: Structured Investment Program Building a Strategic Acquisition Pipeline Incremental Capital +$93M Incremental Capital +$59M (w/1031 proceeds) Incremental Capital +$18M Investor Presentation: Second Quarter 202621 | kimcorealty.com Accretive Capital Allocation Case Studies: Structured Investment → Acquisition
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Accretive Capital Allocation Value Creation: Grocery-Focused Redevelopment 72% 74% 77% 78% 78% 80% 81% 82% 84% 86% 87% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2Q2026 Highly Productive: ~$815/SF AVG KIM Grocer Sales2 Record 87% of ABR from grocery-anchored centers West Broward S.C. - Plantation, FL Redevelopment1 Anchor Repositioning1 Completed 2026 Incl. 3 Grocer Conversions 10.8% Yield 9 Projects • $38M Gross Costs 16.6% Yield 7 Projects • $30M Gross Costs Active Projects 13 of 32 Grocery-Focused 9 to 11% Exp. Yield 24 Projects • $246M Gross Costs 18 to 23% Exp. Yield 8 Projects • $28M Gross Costs 1. Estimated yields are calculated based on stabilized NOI. Gross costs and estimated yields are net of any reimbursements, credits or fees earned by owner, and may vary from those previously disclosed due to final project reconciliations. In the case of multiple projects, estimated yield is calculated as a blended average. 2. For those that report sales Investor Presentation: Second Quarter 202622 | kimcorealty.com
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The Milton @ Pentagon Centre Pentagon City, VA Sold June ‘26: $142M @ 4.9% cap • 253 Multifamily units, 14K SF of retail • Completed 2Q 2023 • Gross Costs: $106M • 55% Ownership 10,346 Entitled 3,710 near-term3 3,636 Built Rent Flowing Active Project Spotlights 1. Gross costs and estimated yields are net of any reimbursements, credits or fees earned by owner, and may vary from those prev iously disclosed due to final project reconciliations. In the case of multiple projects, estimated yield is calculated as a blended average. 2. Estimated yield represents Kimco's preferred equity return with a JV partner. Annual return includes preferred equity income and development fees 3. Activation expected to occur within a three-year period The Chester @ Westlake Daly City, CA • 214 Multifamily units, 10K SF of retail • 2028 Estimated Completion • Gross Costs: $153M • 75% Ownership Accretive Capital Allocation Value Creation: Mixed-Use Redevelopment Coulter Place @ Suburban Square Ardmore, PA • 131 Multifamily units, 19K SF of retail • Completed 1Q 2026 • Gross Costs: $106M • 50% Ownership • 8.4% WAVG Stabilized Yield1 2 • Occupancy: 100% Retail / 59% Multifamily Program Summary • Preferred equity mixed-use developments with best-in-class residential developers • Kimco’s contribution of entitled land at a marked-up value reduces capital outlay and earnings drag • 7% to 9% Estimated WAVG Blended Stabilized Yields1 2 • Monetization: one low cap rate multifamily sale annually — proceeds recycled into acquisitions 14K Total Multifamily Units 214 Active SOLD (253) Monetized Investor Presentation: Second Quarter 202623 | kimcorealty.com
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Wexford Plaza Pittsburgh, Pennsylvania Significant Financial Strength
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Significant Financial Strength 2026 Financial Snapshot 1. Incl. preferred stock & pro-rata JV net debt As of 6/30/2026 5.5x Net debt to EBITDA on a look-through basis1 A-/A3 Credit ratings from S&P/Fitch/Moody’s; 1 of a select group of REITs 4.5% Growth in FFO/diluted share over Q2’25 $2.7B Liquidity, incl. full availability of $2.0B revolver ~$160M Annual free cash flow after dividends and leasing and maintenance capex 12.0% Year-over-Year increase common share cash dividend Investor Presentation: Second Quarter 202625 | kimcorealty.com
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Significant Financial Strength Financial Capacity to Support Growth SOURCESCOMMITTED TO USES Investment grade credit rating of: A- S&P / A- Fitch / A3 Moody’s Low look-through net debt to EBITDA1: 5.5x in 2Q26 Fixed charge coverage of 3.5x or better. Current level: 4.2x ~80% recurring AFFO dividend payout ratio >92% of properties unencumbered ~$160M of annual free cash flow after dividends and leasing and maintenance capex $2.0B available from revolving credit facility $750M available under commercial paper program $600M 3.50% Exchangeable Notes due 2031 issued 2026 Debt Maturities: ~$800M, mostly pre-funded 2026 Capital Allocation Priorities 1. Leasing and maintenance capex: $275M to $300M 2. Redevelopment capex: $125M to $150M 3. Net neutral Acquisitions/Dispositions: $300 to $500M transaction volume 4. Structured Investments, net of repayments:$75M to $125M 1. Includes outstanding preferred stock and company's pro- rata share of joint venture debt As of 6/30/2026 Investor Presentation: Second Quarter 202626 | kimcorealty.com
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Significant Financial Strength $600M Exchangeable Senior Notes 3.50% Coupon 27.5% Exchange premium ($32.36/sh) 60% > share price @ 1/1/2026 ~$9M/yr Interest savings vs. straight debt Net share settlement protects shareholders Kimco always repays $600M principal in cash. Shares are issued only for value above $32.36/share - the stock must rise 30% for a specified time period before any dilution begins. Concurrent $105M buyback 4.1M shares repurchased at pricing to pre-offset future exchange dilution and signal management conviction in the stock. Disciplined use of proceeds Net proceeds of $587M, less $105M share repurchase, earmarked for debt repayment and accretive acquisition opportunities. Opportunistic Capital Raise: Low-cost capital with limited, deferred, and buffered dilution, due 2031 Investor Presentation: Second Quarter 202627 | kimcorealty.com
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10%, $798M 6%, $505M 7%, $606M 12%, $1.1B 7%, $628M 9%, $1.4B 7%, $608M 7%, $664M 6%, $495M 6%, $495M 6%, $494M 17%, $1.5B 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Thereafter Consolidated Unsecured Pre-funded Consolidated Unsecured Consolidated Secured JV Unsecured JV Secured 1. Weighted average 3. KIM’s pro-rata share of JV debt As of 6/30/2026. Percentages are annual maturities of total pro- rata debt stack. Loan extensions are assumed when options exist. Debt Profile: Consolidated JV1 Fixed Rate (~100% of outstanding Cons. Debt) 3.96%1 4.44%1 Floating Rate 4.81%1 5.52%1 WAVG Term 7.4yrs 3.8yrs Secured Debt 5% 69% Unsecured Debt 95% 31% 2 2 Significant Financial Strength Well-Staggered Debt Maturity Profile $587M net convertible debt proceeds June ‘26 Investor Presentation: Second Quarter 202628 | kimcorealty.com