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kimcorealty.com Investor Presentation Bridgehampton Commons Bridgehampton, New York Third 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 on 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). 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: Third Quarter 20262 | kimcorealty.com
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Kimco at a Glance NYSE: KIM S&P 500 A- / A3 Credit Rated 561 Properties 99M SF Gross Leasable Area $23.9B Total Capitalization 96.6% 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: Third 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 share repurchases to maximize shareholder value Investor Presentation: Third Quarter 20264 | kimcorealty.com
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Why Kimco Realty? Best-in Class Grocery Anchor Quality • 87% grocery-anchored ABR, (record level, beating peer average), on a path to ~90%, driving traffic, stronger small-shop rents and lower credit loss2 • $817/SF average grocer sales3 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 dividend yields among shopping center REITs Record Occupancy with Rent Growth Upside • 96.6% portfolio occ. new record-high; 92.9% small shop occ., matching all-time high • $76M Signed Not Open (SNO) pipeline, ~85% commencing by the end of 2027 • 20 consecutive quarters with double digit growth in new lease spreads Investment-Grade Balance Sheet and Liquidity • A- / A3 credit ratings • $2.5B of immediate liquidity; 5.0x 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 income4 • YTD traffic up ~3% YoY5 High-Quality Necessity-Based Portfolio Generating Consistent, Visible Growth at a Discounted Price 1. 5.3x which incl. preferred stock & pro-rata JV net debt 2. Peer average includes disclosed figures only (PECO, IVT, REG, KRG, BRX, UE); AKR, FRT, CURB not disclosed 3. For those that report sales 4. Represents 3-mile pro-rata ABR weighted portfolio demographics as of 6/30/26 5. Placer.AI data pulled October 8, 2026 Investor Presentation: Third Quarter 20265 | kimcorealty.com
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AKR IVT FRT REG UE PECO KRG BXP SPG EQR MAA UDR ESS CPT EGP REXR FR PLD PSA VNO -5% -3% -1% 1% 3% 5% 7% 9% 8x 9x 10x 11x 12x 13x 14x 15x 16x 17x 18x 19x 20x 21x Avg. Growth (Nareit FFO 2023 to 2026E) Valuation (2026E FFO Multiple) Growth at a Reasonable Price (GARP) Dividend Yields As of 9/30/26; 2026 FFO based on consensus. 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) Re-rating opportunity: Kimco trades at a discount to peers producing comparable growth, with an attractive yield and a growing common dividend closing the total-return gap. KIM 5.0% MAA 5.2% UDR 5.2% REXR 4.8% KRG 4.8% EQR 4.6% BXP 4.6% SPG 4.5% CPT 4.4% UE 4.3% FRT 4.3% AKR 4.3% PSA 4.2% REG 4.2% ESS 3.8% PECO 3.7% EGP 3.5% FR 3.4% IVT 3.3% Investor Presentation: Third Quarter 20266 | kimcorealty.com
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Strong Fundamentals Differentiated Portfolio Quail Corners Charlotte, NC
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Strong Fundamentals Differentiated Portfolio One Kimco: Turning Scale Into Earnings Growth Investor Presentation: Third Quarter 20268 | kimcorealty.com One Kimco is a unified, asset-centric operating model that converts the scale of our grocery-anchored portfolio into operating leverage and earnings growth. THE ONE KIMCO OPERATING MODEL THE OUTCOME 01 How We're Organized Specialized, nationally-aligned functional teams 02 How We Work Standardized workflows that accelerate execution 03 How We Innovate Scaling new digital capabilities across the enterprise Revenue Acceleration Speed to rent and SNO conversion pull revenue forward, lifting same-store NOI growth Margin Expansion G&A leverage and expense synergies expand operating margin as we grow Applied across every growth lever Leasing & core operations Acquisitions & capital recyclingRedevelopment & mixed-use Structured investments
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Strong Fundamentals Differentiated Portfolio One Kimco Drives Measurable Performance Investor Presentation: Third Quarter 20269 | kimcorealty.com Revenue growth outpaces G&A, expanding operating leverage GROWING OPERATING LEVERAGE Revenue +10.4% CAGR vs. G&A +5.4% CAGR 2019 to 3Q26: G&A / REVENUE 7.2% → 5.2% 28% more operating leverage REVENUE ACCELERATION +460 bps small-shop occupancy since the 2024 RPT merger2 ~$22M higher revenue above budget since the beginning of 2023 from faster speed to rent 89 leases signed with 17 retailers through national package deals since 20252 >100% ancillary revenue growth psf over 5 years (~$50M in 2026) MARGIN EXPANSION -14% non-staff G&A psf since 2019 +300 bps improvement in retail CAM & insurance recoveries since 2024 -250 bps CAM cost growth below inflation psf since 2024 through procurement scale 5x early AI return from displacing professional services 1. Source: KIM 10-K filings, 2019-2025; G&A reflects reported net G&A. 2. Operating metric as of 9/30/26, all other metrics are reported as of 6/30/26 80 120 160 200 2019 2020 2021 2022 2023 2024 2025 Revenue (2019=100) G&A (2019=100)
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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 9/30/2026 2. CBRE Research, “Retail Availability Holds Steady as Rents Rise,” Q2 2026 U.S. Retail Figures, July 2026. 3. Trailing Twelve Months 4. Represents 3-mile pro-rata ABR weighted portfolio Popstats demographics as of 6/30/26 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 4 5 3 2 1 Jacksonville First-Ring Suburbs Strong demographics · Operational efficiency · Scalable economics • High population density and affluent households • 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 37% above other markets • 3-Mile Demographics4 • 126K Estimated population • $112K Median income • 46% Bachelor degree or more, 31% > USA avg. Investor Presentation: Third Quarter 202610 | kimcorealty.com
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90% 91% 92% 93% 94% 95% 96% 97% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1Q2026 2Q2026 3Q2026 Strip Center Supply Growth % Y/Y (left axis) Strip Center REIT Leased Occupancy % (right axis) Kimco Leased Occupancy % (right axis) 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: Strip Center Sector Update “Let the Good Times Roll”, August 21, 2026 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 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 Strip Center Supply Growth vs. Leased Rates 1 1 Investor Presentation: Third Quarter 202611 | kimcorealty.com
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Strong Fundamentals Differentiated Portfolio Stores Deliver What Online Can’t 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. 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. 7. McKinsey & Company and ICSC, “Shopping in the Age of AI: Redefining Stores for a New Era,” Apr. 2026. Investor Presentation: Third Quarter 202612 | kimcorealty.com 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 THE SOLUTION Stores Solve the Fulfillment Equation 50%+ of e-commerce fulfillment costs are driven by last-mile delivery³ ~3x lower in-store return rates enable faster resale & margin preservation⁴ THE MULTIPLIER Stores Compound Online Growth +13.9% online sales lift when emerging retailers open stores⁵ ~65% of BOPIS shoppers make an additional in-store purchase⁶ THE DIFFERENTIATOR Human Connection Beats Automation 40%+ of Gen Z and Millennials say experiential retail makes them more likely to shop there⁷
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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* 182 3.8% A 2 Ross Stores* 112 2.0% A- 3 Burlington Stores* 71 1.9% BB+ 4 Amazon/Whole Foods * 34 1.8% AA 5 Albertsons* 47 1.6% BB+ 6 Pet Smart 76 1.6% B+ 7 Home Depot 23 1.6% A 8 Ahold Delhaize* 26 1.4% BBB+ 9 Dick's Sporting Goods 42 1.3% BBB 10 Kroger* 37 1.2% BBB Total 650 18.2% 71% of new leases were service-based over the TTM Investor Presentation: Third Quarter 202613 | 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 Investor Presentation: Third Quarter 202614 | kimcorealty.com Data as of 9/30/2026 Small Shop 48% Anchor 52% Total Portfolio Composition % of Pro-rata ABR 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 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
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Strong Fundamentals Differentiated Portfolio Necessity-Based Tenancy Drives Durable Traffic Investor Presentation: Third Quarter 202615 | kimcorealty.com Grocery anchors bring shoppers back week after week, and a re-accelerating consumer is adding to that base. Durable traffic Supported by a strong consumer and healthy tenants Kimco traffic has grown year-over-year every month1 Consumer spending has re-accelerated through 20263 3x more annual customers at grocery-anchored vs. unanchored centers, supporting 15% to 25% higher rents for the neighboring shops2 Low U.S unemployment – under scoring broad-based consumer health supporting center traffic4 1. Placer.AI. All Shopping Centers includes all of Placer.AI's shopping center data nationwide. Data pulled October 9, 2026. 2. ICSC research, cited in CBRE, “Grocers Adding More Stores to Meet Rising Consumer Demand,” April 16, 2026. 3. JP. Morgan, “Chase Spending Data: Updated Through September 30, 2026,” North America Equity Research, October 14, 2026 4. Bloomberg, "US Payroll Growth Beats Forecasts, Jobless Rate Drops to 4.1%," July 3, 2025. -1% 5% Sep-25 Nov-25 Jan-26 Mar-26 May-26 Jul-26 Sep-26 Kimco All U.S. shopping centers 4.1% 0.0% 8.0% Oct-25 Dec-25 Feb-26 Apr-26 Jun-26 Aug-26 Lower Income (%) Upper Income (%)
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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 • ~$817/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 71% of KIM new leases over the TTM • 20 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 • 89 package leases across 17 retailers from 2025 to 2026, representing ~19% of new lease GLA • 91% retention by GLA • 88 fewer vacates YoY • 444 deals, 2.7M SF leased in Q3 • 75% of 1H2027 expiring ABR already resolved • Signing leases for 2028+, reflecting long-term retailer commitment & extended lease terms Investor Presentation: Third Quarter 202616 | 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 • 68 anchor leases expiring through 2027 with no further options (“naked leases”) @ $14.35 WAVG ABR/SF, MTM of ~50% • 8% 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 70 bps 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 3Q Leasing Success • 9% increase in net effective rents over the TTM, and 3%+ ABR/SF CAGR over the trailing 2 years • 3%+ / 4%+ annual rent bumps on 83% / 32% of small shop new leases • 31.5% pro-rata rent spread on comparable new leases • 39.9% anchor and 21.0% small shop new lease spreads — proof demand exists to fill remaining space • 134 new deals signed Investor Presentation: Third Quarter 202617 | kimcorealty.com
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$3 $42 $31$31 FY 2026 FY 2027 FY 2028+ $21 $64 $21 $43 $12 4Q26 FY 2027 FY 2028 Prior Period Commencements Future Commencements Strong Fundamentals Differentiated Portfolio Visible Future Cash Flow Growth $76M of ABR at 9/30/2026, 390 bp spread • Signed Not Open (SNO) Spread = Embedded Rent Growth • All incremental to revenue (does not include upside to recovery income of 20-25%) • SNO Timing: 28% 4Q26, 57% 2027, 15% in 2028 • Redevelopment contribution: 25% • Backfill of recaptured spaces (Party City, Conn’s, Rite Aid, JOANN, Big Lots & Painted tree): 22% • Anchor boxes: 60%; Shop spaces: 40% Investor Presentation: Third Quarter 202618 | kimcorealty.com Expected Timing of Commencements ($M ABR) • ~20% greater cash flow from 2026 expected SNO pipeline • ~$22M of additional ABR from leases signed and not reflected in the $76M 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. 28% of SNO ABR is expected to commence in 4Q26 $76 $64 Expected Incremental Cash Flow Receipts ($M) Incremental receipts from 1Q-3Q commencements, not part of SNO Rent cash flow timing for $76M SNO as of 9/30/26 $34 *Cash flow receipts incremental to 2026 related to ABR which commenced in 1Q-3Q ‘26 and is therefore not included in the current $76M SNO. $62 $20 Economic occupancy remains 160 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 9.30.26) Current Plan Sources of Capital Amount (Ms) Yields Amount (Ms) Implied Yield Free Cash Flow1 $179 3.75% $170 to $180 3.75% Asset Sales $391 5.1% $400 to $500 ~5.0% Total for Accretive Deployment $570 4.7% $570 to $680 4.6% to 5.4% Allocation of Capital Amount (Ms) Yields Amount (Ms) Implied Yield Acquisitions & JV Buyouts $118 5.8% $400 to $500 ~6.0% Structured Investments (net)2 $7 10.2% $75 to $125 ~10.0% Redevelopment $129 10.1% $140 to $150 9.0% to 11.0% Opportunistic Buybacks $224 7.7% Opportunistic N/A Total Deployment $478 7.9% $615 to $775 7.2% to 7.6% 1. After dividends and leasing and maintenance capex 2. As of 10/28/2026 Driving FFO & NOI Growth • Recycling low-growth assets into accretive deployments drives FFO/share growth and lifts same-property NOI trajectory • Opportunistically undertaking stock buyback 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: Third Quarter 202620 | kimcorealty.com
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Accretive Capital Allocation Case Study: Accretive Recycling in Action Investor Presentation: Third Quarter 202621 | kimcorealty.com Sold four low-growth assets and reinvested the proceeds in two grocery-anchored South Florida centers, one sourced through our Structured Investment Program. SOLD 4 Costco-anchoredassets¹ CAP RATE 5.1% → 5.7% +60 bps EXPECTED CAGR² <1% → ~4% +300 bps ACQUIRED 2 South Florida centers | $109M Converted from a Structured Investment Why it matters: +60 bps of yield today and +300 bps of expected annual growth, self-funded through a tax-efficient 1031 exchange. 1. Costco Plaza (Alhambra, CA), Carmel Mountain (Carmel Mountain, CA), Corona Hills Plaza parcels (Corona, CA) and Plaza del Sol parcels (Phoenix, AZ). 2. Expected 10-year NOI CAGR. 3. Occupancy at acquisition. 1031 Exchange Pompano Marketplace Pompano Beach, FL Walmart-anchored Occupancy3 93% Price $53M Sunshine Plaza Fort Lauderdale, FL Publix-anchored Occupancy3 99% Price $56MPro-rata price $127M
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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 93% 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: Third Quarter 202622 | 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 3Q2026 Highly Productive: ~$817/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. 5 Grocer Conversions 10.1% Yield 11 Projects • $51M Gross Costs 18.5% Yield 10 Projects • $39M Gross Costs Active Projects 12 of 29 Grocery-Focused 9 to 11% Exp. Yield 23 Projects • $264M Gross Costs 19 to 23% Exp. Yield 6 Projects • $22M 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: Third Quarter 202623 | 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 10,696 Entitled; 3,574 near-term2 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 previ ously disclosed due to final project reconciliations. Estimated yield represents Kimco's preferred equity return with a JV partn er. Annual return includes preferred equity income and development fees. In the case of multiple projects, estimated yield is calculated as a blended av erage. 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 • Occupancy: 100% Retail / 71% 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 Yields1 • Additional opportunity to monetize multifamily assets accretively 14K Total Multifamily Units 214 Active SOLD (693) Monetized Investor Presentation: Third Quarter 202624 | kimcorealty.com The Witmer @ Pentagon Centre Pentagon City, VA Sold August ‘26: $212M @ ~5.1% cap • 440 Multifamily units, 7K SF of retail • Completed 2019 • Gross Costs: ~$158M • 55% Ownership SOLD Recently Completed Monetizations
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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 9/30/2026 5.3x 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 6.8% Growth in FFO/diluted share over Q3’25 $2.5B+ Liquidity, incl. full availability of $2.0B revolver ~$175M Annual free cash flow after dividends and leasing and maintenance capex 7.7% Year-over-Year increase common share cash dividend Investor Presentation: Third Quarter 202626 | 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: 5.3x in 3Q26 (all-time best) ▪ Fixed charge coverage of 3.5x or better. Current level: 4.3x ▪ ~80% recurring AFFO dividend payout ratio. Current level: ~74% ▪ >92% of properties unencumbered ▪ ~$175M 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 at 27.5% exchange premium ($32.26/sh). ▪ 2026 debt maturities: No notable maturities remain as of October 1st ▪ Preferred buybacks totaling $74M including approx.: 754K Class N 7.25%, 625K Class L 5.125% & 655K Class M 5.250% ▪ Common buyback: 6.3M shares at a WAVG net price of $23.81, or $150M. ▪ 2026 capital allocation priorities 1. Leasing & maintenance capex: $275M to $300M 2. Redevelopment capex: $140M to $150M 3. Net neutral acquisitions/dispositions: $400 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 9/30/2026 except 2026 Debt Maturities: on October 1st, $500M 2.8% Senior Notes due 10/1/2026 were repaid at maturity. Investor Presentation: Third Quarter 202627 | kimcorealty.com
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0%, $11M 6%, $505M 7%, $609M 12%, $1.1B 7%, $628M 17%, $1.5B 7%, $608M 8%, $664M 6%, $495M 6%, $495M 6%, $494M 18%, $1.5B 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Thereafter Consolidated Unsecured Consolidated Secured JV Unsecured JV Secured 1. Weighted average 2. KIM’s pro-rata share of JV debt As of 9/30/2026 except debt maturities chart is shown as a 10/1/26 proforma. $500M 2.8% Senior Notes due 10/1/2026 were repai d at maturity. 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) 3.97%1 4.48%1 Floating Rate 4.89%1 5.25%1 WAVG Term 7.4yrs 3.9yrs Secured Debt 5% 73% Unsecured Debt 95% 27% 2 2 Significant Financial Strength Well-Staggered Debt Maturity Profile Investor Presentation: Third Quarter 202628 | kimcorealty.com