8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

August 4, 2022

Date of Report (Date of earliest event reported)

REGENCY CENTERS CORPORATION

REGENCY CENTERS, L.P.

(Exact name of registrant as specified in its charter)

Florida (Regency Centers Corporation) Delaware (Regency Centers, L. P.)	001-12298 (Regency Centers Corporation) 0-24763 (Regency Centers, L.P.)	59-3191743 (Regency Centers Corporation) 59-3429602 (Regency Centers, L.P.)
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

One Independent Drive, Suite 114

Jacksonville, Florida 32202

(Address of principal executive offices) (Zip Code)

(904) 598-7000

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Regency Centers Corporation

Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, $.01 par value	REG	The Nasdaq Stock Market LLC

Regency Centers, L.P.

Title of each class	Trading Symbol	Name of each exchange on which registered
None	N/A	N/A

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

Item 2.02 Disclosure of Results of Operations and Financial Condition

On August 4, 2022, Regency Centers Corporation ("Regency") issued an earnings release for the three and six months ended June 30, 2022, which is attached as Exhibit 99.1.

On August 4, 2022, Regency posted on its website, at investors.regencycenters.com, certain supplemental information for the three and six months ended June 30, 2022, which are attached as Exhibit 99.2 and Exhibit 99.3, respectively.

The information furnished under this Item 2.02, including Exhibit 99.1, Exhibit 99.2, and Exhibit 99.3, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act.

Item 7.01 Regulation FD Disclosures

On August 4, 2022, Regency posted on its website, at investors.regencycenters.com, a presentation deck relating to business operations and performance.

The information furnished under this item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section and shall not be deemed to be incorporated by reference into any filing under the Securities Act, or the Exchange Act.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit 99.1	Earnings release issued by Regency on August 4, 2022, for the three and six months ended June 30, 2022.
Exhibit 99.2	Supplemental information posted on its website on August 4, 2022, for the three and six months ended June 30, 2022.
Exhibit 99.3	Fixed income supplemental information posted on its website on August 4, 2022, for the three and six months ended June 30, 2022.
104	Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL documents)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	REGENCY CENTERS CORPORATION
August 4, 2022	By:	/s/ J. Christian Leavitt
		J. Christian Leavitt, Senior Vice President and Treasurer (Principal Accounting Officer)
	REGENCY CENTERS, L.P.
	By: Regency Centers Corporation, its general partner
August 4, 2022	By:	/s/ J. Christian Leavitt
		J. Christian Leavitt, Senior Vice President and Treasurer (Principal Accounting Officer)

EX-99.1

Exhibit 99.1

  NEWS RELEASE For immediate release   Christy McElroy 904 598 7616 ChristyMcElroy@regencycenters.com

Regency Centers Reports Second Quarter 2022 Results

JACKSONVILLE, Fla. (August 4, 2022) – Regency Centers Corporation ("Regency” or the “Company") (Nasdaq: REG) today reported financial and operating results for the period ended June 30, 2022 and provided updated 2022 earnings guidance. For the three months ended June 30, 2022 and 2021, Net Income was $0.61 per diluted share and $0.56 per diluted share, respectively.

Second Quarter 2022 Highlights

•Reported Nareit FFO of $1.00 per diluted share and Core Operating Earnings of $0.94 per diluted share for the second quarter

•Raised 2022 Nareit FFO guidance to a range of $3.92 to $3.96 per diluted share

•Reported that Same Property NOI excluding lease termination fees and prior year collections increased 3.1% during the second quarter over the same period a year ago

•Increased Same Property percent leased by 160 basis points to 94.5%, and Same Property small shop percent leased by 220 basis points to 91.0%, compared to June 30, 2021

•Executed 1.3 million square feet of comparable new and renewal leases during the second quarter at a blended cash rent spread of +8.8%

•Started approximately $50 million of new development and redevelopment projects and completed nearly $12 million of redevelopment projects during the second quarter, each at Regency’s share

•Net project costs for Regency’s in-process development and redevelopment projects were approximately $390 million as of June 30, 2022

•Completed property acquisitions of $130 million and property dispositions of $40 million during the second quarter, each at Regency’s share

•Repurchased approximately 1.3 million shares of common stock at an average price of $58.25 per share, for $75.4 million

•Issued the Company’s fifth annual Corporate Responsibility Report on May 24, 2022

•Achieved pro-rata net debt-to-operating EBITDAre of 5.0x as of June 30, 2022

•Subsequent to quarter end, on August 2, 2022, Regency’s Board of Directors (the "Board") declared a quarterly cash dividend on the Company’s common stock of $0.625 per share

"Despite the macroeconomic pressures that exist today, our operating trends remain strong, as we produced another quarter of solid results, leading us to raise full-year guidance" said Lisa Palmer, President and Chief Executive Officer. "Robust leasing activity and our value creation pipeline provide further tailwinds to our growth outlook for the remainder of the year, while the strength of our balance sheet allows us to be patient and opportunistic. Also, as a foundational strategy for Regency, we were pleased to highlight our ESG achievements during the quarter and provide aggressive de-carbonization and other sustainability targets."

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Financial Results

Net Income

•For the three months ended June 30, 2022, Net Income Attributable to Common Stockholders ("Net Income") was $104.8 million, or $0.61 per diluted share, compared to Net Income of $95.5 million, or $0.56 per diluted share, for the same period in 2021.

Nareit FFO

•For the three months ended June 30, 2022, Nareit Funds From Operations ("Nareit FFO") was $173.9 million, or $1.00 per diluted share, compared to $168.4 million, or $0.99 per diluted share, for the same period in 2021.

oNareit FFO in the second quarter of 2022 includes positive uncollectible lease income of $5.3 million at Regency’s share, or $0.03 per diluted share, favorably impacted by the collection of revenues reserved during 2020 and 2021. Additional detail on uncollectible lease income is on page 34 of the second quarter 2022 supplemental package.

oNareit FFO in the second quarter of 2022 also benefitted from the reversal of straight-line rent reserves of $3.5 million at Regency’s share, or $0.02 per diluted share, triggered by the conversion of some cash basis tenants back to accrual basis accounting.

Core Operating Earnings

•For the three months ended June 30, 2022, Core Operating Earnings was $163.1 million, or $0.94 per diluted share, compared to $161.6 million, or $0.95 per diluted share, for the same period in 2021.

Portfolio Performance

Same Property NOI

•Second quarter 2022 Same Property Net Operating Income (“NOI”), excluding lease termination fees, increased by 0.6% compared to the same period in 2021.

•Second quarter 2022 Same Property Net Operating Income (“NOI”), excluding lease termination fees and prior year collections, increased by 3.1% compared to the same period in 2021.

•Second quarter 2022 Same Property base rent increased by 3.0% compared to the same period in 2021.

Leased Occupancy

•As of June 30, 2022, Regency’s wholly-owned portfolio plus its pro-rata share of co-investment partnerships, was 94.2% leased.

•As of June 30, 2022, Regency’s Same Property portfolio was 94.5% leased, an increase of 20 basis points sequentially and an increase of 160 basis points compared to June 30, 2021.

oSame Property anchor percent leased, which includes spaces greater than or equal to 10,000 square feet, was 96.6%, a decline of 10 basis points sequentially.

oSame Property shop percent leased, which includes spaces less than 10,000 square feet, was 91.0%, an increase of 60 basis points sequentially.

•As of June 30, 2022, Regency’s Same Property portfolio was 92.1% commenced, an increase of 10 basis points sequentially and an increase of 110 basis points compared to June 30, 2021.

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Leasing Activity

•During the three months ended June 30, 2022, Regency executed approximately 1.3 million square feet of comparable new and renewal leases at a blended cash rent spread of +8.8%.

•For the trailing twelve months, the Company executed approximately 6.8 million square feet of comparable new and renewal leases at a blended cash rent spread of +8.3%.

Corporate Responsibility

•On May 24, 2022, Regency issued its annual Corporate Responsibility Report, illustrating the Company’s continued sustainability commitment and leadership, as well as describing its key environmental, social, and governance initiatives and achievements. The report can be found on Regency’s Corporate Responsibility website.

•Regency achieved 2022 Green Lease Leaders Gold recognition, granted by the Institute for Market Transformation and the U.S. Department of Energy’s Better Buildings Alliance.

Capital Allocation and Balance Sheet

Developments and Redevelopments

•During the second quarter, Regency started approximately $50 million of development and redevelopment projects, at the Company’s share, including the second phase of the ground-up Baybrook East development in Houston and the redevelopment of Buckhead Landing in Atlanta.

•As of June 30, 2022, Regency’s in-process development and redevelopment projects had estimated net project costs of approximately $390 million at the Company’s share, 51% of which has been incurred to date.

•During the second quarter, the Company completed redevelopment projects with combined costs of over $12 million, at the Company’s share.

Property Transactions

•During the second quarter of 2022, the Company completed a combined total of $130 million of acquisitions at Regency’s share, including the previously-announced acquisition of its partner’s 75% interest in four properties in the RegCal JV portfolio for $88.5 million at Regency’s share, and the acquisition of an 80% interest in the Whole Foods-anchored Baederwood Shopping Center in Philadelphia for $41.3 million.

•During the second quarter of 2022, the Company completed the disposition of three properties for a combined total gross sales price of $40 million, at Regency’s share.

Balance Sheet

•During the second quarter of 2022, as part of the Company’s previously-announced stock repurchase program, Regency repurchased approximately 1.3 million shares of common stock at an average price of $58.25 per share, for $75.4 million.

•As previously announced, during the second quarter of 2022 the Company settled approximately 1.0 million shares under forward sale agreements in connection with its ATM program, entered into during 2021 at an average gross issuance price of $65.78 per share.

•As of June 30, 2022, Regency had full capacity available under its $1.2 billion revolving credit facility.

•As of June 30, 2022, Regency’s pro-rata net debt-to-operating EBITDAre ratio was 5.0x.

Dividend

•On August 2, 2022, Regency’s Board declared a quarterly cash dividend on the Company’s common stock of $0.625 per share. The dividend is payable on October 4, 2022, to shareholders of record as of September 15, 2022.

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2022 Guidance

Regency Centers has updated its 2022 guidance, as summarized in the table below. Please refer to the Company’s “Business Update” presentation for additional detail on its guidance, as well as in the second quarter 2022 supplemental package. All materials are posted on the Company’s website at investors.regencycenters.com.

Full Year 2022 Guidance (in thousands, except per share data)	2Q YTD	Current Guidance	Prior Guidance
Net Income Attributable to Common Stockholders per diluted share	$1.74	$2.60 - $2.64	$2.50 - $2.56
Nareit Funds From Operations ("Nareit FFO") per diluted share	$2.04	$3.92 - $3.96	$3.84 - $3.90
Core Operating Earnings per diluted share (1)	$1.91	$3.70 - $3.74	$3.65 - $3.71
Same property NOI growth without termination fees	4.1%	+1.25% to +2.25%	0% to +1.5%
Same property NOI growth without termination fees or collection of PY reserves	8.6%	+4.75% to +5.75%	+3.5% to +5.0%
Collection of Prior Year Reserves (2)	$15,033	+/- $18,000	+/- $18,000
Certain non-cash items (3)	$22,457	+/- $37,500	+/- $33,500
Impact from Reversal of Uncollectible Straight-Line Rent Receivables (4)	$7,494	$7,494	$3,967
Net G&A expense	$43,598	$86,000 - $88,000	$82,500 - $85,500
Net interest expense	$82,984	$166,000 - $167,000	$165,000 - $166,000
Recurring third party fees & commissions	$12,654	$24,000 - $25,000	$24,000 - $25,000
Development and Redevelopment spend	$57,972	+/- $140,000	+/- $150,000
Acquisitions	$170,908	+/- $170,000	+/- $170,000
Cap rate (weighted average)	5.6%	+/- 5.6%	+/- 5.6%
Dispositions	$177,604	+/-$190,000	+/-$210,000
Cap rate (weighted average) (5)	3.0%	+/- 3.3%	+/- 3.7%
Forward ATM settlement (gross)	$64,768	+/- $65,000	+/- $65,000
Share Repurchase settlement (gross)	$75,393	+/- $75,000	$0

(1)Core Operating Earnings excludes certain non-cash items, including straight-line rents, above/below market rent amortization, and amortization of mark-to-market debt, as well as transaction related income/expenses and debt extinguishment charges.

(2)Represents the expected collection in 2022 of revenues in the Same Property portfolio reserved in 2020 and 2021; included in Uncollectible Lease Income.

(3)Includes above and below market rent amortization, straight-line rents, and amortization of mark-to-market debt adjustments.

(4)Positive impact on Uncollectible Straight-Line Rent from the conversion of cash basis tenants back to an accrual basis of accounting, only included in guidance as tenants are converted.

(5)Weighted average cap rates exclude non-income producing assets; 2022 average cap rates include the sale of Costa Verde in 1Q22 ($125M at a ~1.5% cap rate).

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Conference Call Information

To discuss Regency’s second quarter results and provide further business updates, management will host a conference call on Friday, August 5, 2022, at 10:00 a.m. ET. Dial-in and webcast information is below.

Second Quarter 2022 Earnings Conference Call

Date:	Friday, August 5, 2022
Time:	10:00 a.m. ET
Dial#:	877-407-0789 or 201-689-8562
Webcast:	2nd Quarter 2022 Webcast Link

Replay: Webcast Archive – Investor Relations page under Events & Webcasts

About Regency Centers Corporation (Nasdaq: REG)

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit RegencyCenters.com.

Reconciliation of Net Income Attributable to Common Stockholders to Nareit FFO and Core Operating Earnings - Actual (in thousands)

For the Periods Ended June 30, 2022 and 2021	Three Months Ended						Year to Date
	2022			2021			2022			2021
Reconciliation of Net Income to Nareit FFO:
Net Income Attributable to Common Stockholders	$	104,796			95,490		$	300,024			176,146
Adjustments to reconcile to Nareit Funds From Operations (1):
Depreciation and amortization (excluding FF&E)		85,738			81,177			169,868			165,671
Gain on sale of real estate		(17,089	)		(19,777	)		(119,099	)		(31,847	)
Provision for impairment of real estate		-			11,091			-			11,091
Exchangeable operating partnership units		452			432			1,315			796
Nareit Funds From Operations	$	173,897			168,413		$	352,108			321,857
Reconciliation of Nareit FFO to Core Operating Earnings:
Nareit Funds From Operations	$	173,897			168,413		$	352,108			321,857
Adjustments to reconcile to Core Operating Earnings (1):
Early extinguishment of debt		176			-			176			-
Certain Non-Cash Items
Straight line rent		(2,534	)		(2,861	)		(6,012	)		(6,290	)
Uncollectible straight line rent		(3,071	)		1,962			(5,454	)		4,535
Above/below market rent amortization, net		(5,323	)		(5,728	)		(10,715	)		(11,708	)
Debt premium/discount amortization		(51	)		(183	)		(157	)		(92	)
Core Operating Earnings	$	163,094			161,603		$	329,946			308,302
Weighted Average Shares For Diluted Earnings per Share		172,424			170,172			172,036			170,065
Weighted Average Shares For Diluted FFO and Core Operating Earnings per Share		173,165			170,935			172,791			170,828

(1)Includes Regency's consolidated entities and its pro-rata share of unconsolidated co-investment partnerships, net of pro-rata share attributable to noncontrolling interests.

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Same Property NOI is a key non-GAAP measure used by management in evaluating the operating performance of Regency’s properties. The Company provides a reconciliation of Net Income Attributable to Common Stockholders to pro-rata Same Property NOI.

Reconciliation of Net Income Attributable to Common Stockholders to Pro-Rata Same Property NOI – Actual (in thousands)

For the Periods Ended June 30, 2022 and 2021	Three Months Ended						Year to Date
	2022			2021			2022			2021
Net income attributable to common stockholders	$	104,796			95,490		$	300,024			176,146
Less:
Management, transaction, and other fees		(6,499	)		(7,355	)		(13,183	)		(13,748	)
Other(1)		(12,110	)		(8,355	)		(24,731	)		(16,059	)
Plus:
Depreciation and amortization		79,350			74,217			157,192			151,476
General and administrative		17,645			19,187			36,437			40,474
Other operating expense		617			1,177			2,790			1,875
Other expense (income)		37,876			14,168			(24,840	)		37,920
Equity in income of investments in real estate excluded from NOI (2)		(375	)		24,943			12,013			38,244
Net income attributable to noncontrolling interests		1,191			1,342			2,779			2,311
NOI		222,491			214,814			448,481			418,639
Less non-same property NOI (3)		(5,271	)		2,486			(8,983	)		3,622
Same Property NOI	$	217,220			217,300		$	439,498			422,261
Same Property NOI without Termination Fees	$	216,280			215,050		$	436,610			419,595
Same Property NOI without Termination Fees or Redevelopments	$	191,199			192,437		$	384,114			371,638
Same Property NOI without Termination Fees or Collection of PY Reserves	$	210,525			204,097		$	421,577			388,075

(1)Includes straight-line rental income and expense, net of reserves, above and below market rent amortization, other fees, and noncontrolling interests.

(2)Includes non-NOI expenses incurred at our unconsolidated real estate partnerships, such as, but not limited to, straight-line rental income, above and below market rent amortization, depreciation and amortization, interest expense, and real estate gains and impairments.

(3)Includes revenues and expenses attributable to Non-Same Property, Projects in Development, corporate activities, and noncontrolling interests. Also includes adjustments for earnings at the four and seven properties we acquired from our former unconsolidated RegCal and USAA partnerships in 2022 and 2021, respectively.

Reported results are preliminary and not final until the filing of the Company’s Form 10-Q with the SEC and, therefore, remain subject to adjustment.

The Company has published forward-looking statements and additional financial information in its second quarter 2022 supplemental package that may help investors estimate earnings. A copy of the Company’s second quarter 2022 supplemental package will be available on the Company's website at investors.regencycenters.com or by written request to: Investor Relations, Regency Centers Corporation, One Independent Drive, Suite 114, Jacksonville, Florida, 32202. The supplemental package contains more detailed financial and property results including financial statements, an outstanding debt summary, acquisition and development activity, investments in partnerships, information pertaining to securities issued other than common stock, property details, a significant tenant rent report and a lease expiration table in addition to earnings and valuation guidance assumptions. The information provided in the supplemental package is unaudited and includes non-GAAP measures, and there can be no assurance that the information will not vary from the final information in the Company’s Form 10-Q for the period ended June 30, 2022. Regency may, but assumes no obligation to, update information in the supplemental package from time to time.

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Non-GAAP Disclosure

We believe these non-GAAP measures provide useful information to our Board of Directors, management and investors regarding certain trends relating to our financial condition and results of operations. Our management uses these non-GAAP measures to compare our performance to that of prior periods for trend analyses, purposes of determining management incentive compensation and budgeting, forecasting and planning purposes.

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We do not consider non-GAAP measures an alternative to financial measures determined in accordance with GAAP, rather they supplement GAAP measures by providing additional information we believe to be useful to our shareholders. The principal limitation of these non-GAAP financial measures is they may exclude significant expense and income items that are required by GAAP to be recognized in our consolidated financial statements. In addition, they reflect the exercise of management’s judgment about which expense and income items are excluded or included in determining these non-GAAP financial measures. In order to compensate for these limitations, reconciliations of the non-GAAP financial measures we use to their most directly comparable GAAP measures are provided. Non-GAAP financial measures should not be relied upon in evaluating the financial condition, results of operations or future prospects of the Company.

Nareit FFO is a commonly used measure of REIT performance, which the National Association of Real Estate Investment Trusts ("Nareit") defines as net income, computed in accordance with GAAP, excluding gains on sale and impairments of real estate, net of tax, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Regency computes Nareit FFO for all periods presented in accordance with Nareit's definition. Since Nareit FFO excludes depreciation and amortization and gains on sales and impairments of real estate, it provides a performance measure that, when compared year over year, reflects the impact on operations from trends in percent leased, rental rates, operating costs, acquisition and development activities, and financing costs. This provides a perspective of the Company’s financial performance not immediately apparent from net income determined in accordance with GAAP. Thus, Nareit FFO is a supplemental non-GAAP financial measure of the Company's operating performance, which does not represent cash generated from operating activities in accordance with GAAP; and, therefore, should not be considered a substitute measure of cash flows from operations. The Company provides a reconciliation of Net Income Attributable to Common Stockholders to Nareit FFO.

Core Operating Earnings is an additional performance measure that excludes from Nareit FFO: (i) transaction related income or expenses; (ii) gains or losses from the early extinguishment of debt; (iii) certain non-cash components of earnings derived from above and below market rent amortization, straight-line rents, and amortization of mark-to-market of debt adjustments; and (iv) other amounts as they occur. The Company provides a reconciliation of Net Income to Nareit FFO to Core Operating Earnings.

Forward-Looking Statements

Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to Regency’s future events, developments, or financial or operational performance or results such as our 2022 Guidance, are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as "may," "will," "should," "expect," "estimate," "believe," "intend," "forecast," "anticipate," "guidance," and other similar language. However, the absence of these or similar words or expressions does not mean a statement is not forward-looking. While we believe these forward-looking statements are reasonable when made, forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance these expectations will be attained, and it is possible actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Our operations are subject to a number of risks and uncertainties including, but not limited to, those risk factors described in our SEC filings. When considering an investment in our securities, you should carefully read and consider these risks, together with all other information in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our other filings and submissions to the SEC. If any of the events described in the risk factors actually occur, our business, financial condition or operating results, as well as the market price of our securities, could be materially adversely affected. Forward-looking statements are only as of the date they are made, and Regency undertakes no duty to update its forward-looking statements except as required by law. These risks and events include, without limitation:

Risk Factors Related to Pandemics or other Health Crises

Pandemics or other health crises, such as the COVID-19 pandemic, may adversely affect our tenants’ financial condition, the profitability of our properties, and our access to the capital markets and could have a material adverse effect on our business, results of operations, cash flows and financial condition.

Risk Factors Related to Operating Retail-Based Shopping Centers

Economic and market conditions may adversely affect the retail industry and consequently reduce our revenues and cash flow, and increase our operating expenses. Shifts in retail trends, sales, and delivery methods between brick and mortar stores, e-commerce, home delivery, and curbside pick-up may adversely impact our revenues and cash flows. Changing economic and retail market conditions in geographic areas where our properties are concentrated may reduce our

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revenues and cash flow. In addition, labor challenges and supply delays and shortages due to a variety of macroeconomic factors, including inflationary pressures, could affect the retail industry. Our success depends on the continued presence and success of our “anchor” tenants. A significant percentage of our revenues are derived from smaller “shop space” tenants and our net income may be adversely impacted if our smaller shop tenants are not successful. We may be unable to collect balances due from tenants in bankruptcy. Many of our costs and expenses associated with operating our properties may remain constant or increase, even if our lease income decreases. Compliance with the Americans with Disabilities Act and fire, safety and other regulations may have a negative effect on us.

Risk Factors Related to Real Estate Investments

Our real estate assets may decline in value and be subject to impairment losses which may reduce our net income. We face risks associated with development, redevelopment and expansion of properties. We face risks associated with the development of mixed-use commercial properties. We face risks associated with the acquisition of properties. We may be unable to sell properties when desired because of market conditions. Changes in tax laws could impact our acquisition or disposition of real estate.

Risk Factors Related to the Environment Affecting Our Properties

Climate change may adversely impact our properties directly, and may lead to additional compliance obligations and costs as well as additional taxes and fees. Geographic concentration of our properties makes our business more vulnerable to natural disasters, severe weather conditions and climate change. Costs of environmental remediation may impact our financial performance and reduce our cash flow.

Risk Factors Related to Corporate Matters

An increased focus on metrics and reporting relating to environmental, social, and governance ("ESG") factors may impose additional costs and expose us to new risks. An uninsured loss or a loss that exceeds the insurance coverage on our properties may subject us to loss of capital and revenue on those properties. Failure to attract and retain key personnel may adversely affect our business and operations. The unauthorized access, use, theft or destruction of tenant or employee personal, financial or other data or of Regency’s proprietary or confidential information stored in our information systems or by third parties on our behalf could impact our reputation and brand and expose us to potential liability and loss of revenues.

Risk Factors Related to Our Partnerships and Joint Ventures

We do not have voting control over all of the properties owned in our co-investment partnerships and joint ventures, so we are unable to ensure that our objectives will be pursued. The termination of our partnerships may adversely affect our cash flow, operating results, and our ability to make distributions to stock and unit holders.

Risk Factors Related to Funding Strategies and Capital Structure

Our ability to sell properties and fund acquisitions and developments may be adversely impacted by higher market capitalization rates and lower NOI at our properties which may dilute earnings. We depend on external sources of capital, which may not be available in the future on favorable terms or at all. Our debt financing may adversely affect our business and financial condition. Covenants in our debt agreements may restrict our operating activities and adversely affect our financial condition. Increases in interest rates would cause our borrowing costs to rise and negatively impact our results of operations. Hedging activity may expose us to risks, including the risks that a counterparty will not perform and that the hedge will not yield the economic benefits we anticipate, which may adversely affect us. The interest rates on our Unsecured Credit facilities as well as on our variable rate mortgages and interest rate swaps might change based on changes to the method in which LIBOR or its replacement rate is determined.

Risk Factors Related to the Market Price for Our Securities

Changes in economic and market conditions may adversely affect the market price of our securities. There is no assurance that we will continue to pay dividends at historical rates.

Risk Factors Relating to the Company’s Qualification as a REIT

If the Company fails to qualify as a REIT for federal income tax purposes, it would be subject to federal income tax at regular corporate rates. Dividends paid by REITs generally do not qualify for reduced tax rates. Certain foreign stockholders may be subject to U.S. federal income tax on gain recognized on a disposition of our common stock if we do not qualify as a “domestically controlled” REIT. Legislative or other actions affecting REITs may have a negative effect on us. Complying with REIT requirements may limit our ability to hedge effectively and may cause us to incur tax liabilities.

Risk Factors Related to the Company’s Common Stock

8

Restrictions on the ownership of the Company’s capital stock to preserve its REIT status may delay or prevent a change in control. The issuance of the Company's capital stock may delay or prevent a change in control. Ownership in the Company may be diluted in the future.

9

EX-99.2

Exhibit 99.2

 

Table of Contents

June 30, 2022

Forward-Looking Statements	i
Earnings Press Release	iii
Summary Information:
Summary Financial Information	1
Summary Real Estate Information	2
Financial Information:
Consolidated Balance Sheets	3
Consolidated Statements of Operations	4
Supplemental Details of Operations (Consolidated Only)	5
Supplemental Details of Assets and Liabilities (Real Estate Partnerships Only)	6
Supplemental Details of Operations (Real Estate Partnerships Only)	7
Supplemental Details of Same Property NOI (Pro-Rata)	8
Reconciliations of Non-GAAP Financial Measures	9
Capital Expenditures and Additional Disclosures	10
Summary of Consolidated Debt	11
Summary of Consolidated Debt Detail	12
Summary of Unsecured Debt Covenants and Leverage Ratios	13
Summary of Unconsolidated Debt	14
Unconsolidated Investments	15
Investment Activity:
Property Transactions	16
Summary of In-Process Developments and Redevelopments	17
Development and Redevelopment Current Year Completions	18
Real Estate Information:
Leasing Statistics	19
Annual Base Rent by State	20
Annual Base Rent by CBSA	21
Annual Base Rent by Tenant Category	22
Significant Tenant Rents	23
Tenant Lease Expirations	24
Portfolio Summary Report by State	25
Additional Disclosures and Forward-Looking Information:
Components of NAV	42
Supplemental Details of Lease Income and Tenant & Other Receivables (Pro-Rata)	43
Earnings Guidance	44
Glossary of Terms	45

Safe Harbor Language

June 30, 2022

Forward-Looking Statements

Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to Regency’s future events, developments, or financial or operational performance or results such as our 2022 Guidance, are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as "may," "will," "should," "expect," "estimate," "believe," "intend," "forecast," "anticipate," "guidance," and other similar language. However, the absence of these or similar words or expressions does not mean a statement is not forward-looking. While we believe these forward-looking statements are reasonable when made, forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance these expectations will be attained, and it is possible actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Our operations are subject to a number of risks and uncertainties including, but not limited to, those risk factors described in our SEC filings. When considering an investment in our securities, you should carefully read and consider these risks, together with all other information in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our other filings and submissions to the SEC. If any of the events described in the risk factors actually occur, our business, financial condition or operating results, as well as the market price of our securities, could be materially adversely affected. Forward-looking statements are only as of the date they are made, and Regency undertakes no duty to update its forward-looking statements except as required by law. These risks and events include, without limitation:

Risk Factors Related to Pandemics or other Health Crises

Pandemics or other health crises, such as the COVID-19 pandemic, may adversely affect our tenants’ financial condition, the profitability of our properties, and our access to the capital markets and could have a material adverse effect on our business, results of operations, cash flows and financial condition.

Risk Factors Related to Operating Retail-Based Shopping Centers

Economic and market conditions may adversely affect the retail industry and consequently reduce our revenues and cash flow, and increase our operating expenses. Shifts in retail trends, sales, and delivery methods between brick and mortar stores, e-commerce, home delivery, and curbside pick-up may adversely impact our revenues and cash flows. Changing economic and retail market conditions in geographic areas where our properties are concentrated may reduce our revenues and cash flow. In addition, labor challenges and supply delays and shortages due to a variety of macroeconomic factors, including inflationary pressures, could affect the retail industry. Our success depends on the continued presence and success of our “anchor” tenants. A significant percentage of our revenues are derived from smaller “shop space” tenants and our net income may be adversely impacted if our smaller shop tenants are not successful. We may be unable to collect balances due from tenants in bankruptcy. Many of our costs and expenses associated with operating our properties may remain constant or increase, even if our lease income decreases. Compliance with the Americans with Disabilities Act and fire, safety and other regulations may have a negative effect on us.

Risk Factors Related to Real Estate Investments

Our real estate assets may decline in value and be subject to impairment losses which may reduce our net income. We face risks associated with development, redevelopment and expansion of properties. We face risks associated with the development of mixed-use commercial properties. We face risks associated with the acquisition of properties. We may be unable to sell properties when desired because of market conditions. Changes in tax laws could impact our acquisition or disposition of real estate.

Risk Factors Related to the Environment Affecting Our Properties

Climate change may adversely impact our properties directly, and may lead to additional compliance obligations and costs as well as additional taxes and fees. Geographic concentration of our properties makes our business more vulnerable to natural disasters, severe weather conditions and climate change. Costs of environmental remediation may impact our financial performance and reduce our cash flow.

Risk Factors Related to Corporate Matters

An increased focus on metrics and reporting relating to environmental, social, and governance (“ESG”) factors may impose additional costs and expose us to new risks. An uninsured loss or a loss that exceeds the insurance coverage on our properties may subject us to loss of capital and revenue on those properties. Failure to attract and retain key

Supplemental Information i

personnel may adversely affect our business and operations. The unauthorized access, use, theft or destruction of tenant or employee personal, financial or other data or of Regency’s proprietary or confidential information stored in our information systems or by third parties on our behalf could impact our reputation and brand and expose us to potential liability and loss of revenues.

Risk Factors Related to Our Partnerships and Joint Ventures

We do not have voting control over all of the properties owned in our co-investment partnerships and joint ventures, so we are unable to ensure that our objectives will be pursued. The termination of our partnerships may adversely affect our cash flow, operating results, and our ability to make distributions to stock and unit holders.

Risk Factors Related to Funding Strategies and Capital Structure

Our ability to sell properties and fund acquisitions and developments may be adversely impacted by higher market capitalization rates and lower NOI at our properties which may dilute earnings. We depend on external sources of capital, which may not be available in the future on favorable terms or at all. Our debt financing may adversely affect our business and financial condition. Covenants in our debt agreements may restrict our operating activities and adversely affect our financial condition. Increases in interest rates would cause our borrowing costs to rise and negatively impact our results of operations. Hedging activity may expose us to risks, including the risks that a counterparty will not perform and that the hedge will not yield the economic benefits we anticipate, which may adversely affect us. The interest rates on our Unsecured Credit facilities as well as on our variable rate mortgages and interest rate swaps might change based on changes to the method in which LIBOR or its replacement rate is determined.

Risk Factors Related to the Market Price for Our Securities

Changes in economic and market conditions may adversely affect the market price of our securities. There is no assurance that we will continue to pay dividends at historical rates.

Risk Factors Relating to the Company’s Qualification as a REIT

If the Company fails to qualify as a REIT for federal income tax purposes, it would be subject to federal income tax at regular corporate rates. Dividends paid by REITs generally do not qualify for reduced tax rates. Certain foreign stockholders may be subject to U.S. federal income tax on gain recognized on a disposition of our common stock if we do not qualify as a “domestically controlled” REIT. Legislative or other actions affecting REITs may have a negative effect on us. Complying with REIT requirements may limit our ability to hedge effectively and may cause us to incur tax liabilities.

Risk Factors Related to the Company’s Common Stock

Restrictions on the ownership of the Company’s capital stock to preserve its REIT status may delay or prevent a change in control. The issuance of the Company's capital stock may delay or prevent a change in control. Ownership in the Company may be diluted in the future.

Supplemental Information ii

  NEWS RELEASE For immediate release   Christy McElroy 904 598 7616 ChristyMcElroy@regencycenters.com

Regency Centers Reports Second Quarter 2022 Results

JACKSONVILLE, Fla. (August 4, 2022) – Regency Centers Corporation (“Regency” or the “Company”) (Nasdaq: REG) today reported financial and operating results for the period ended June 30, 2022 and provided updated 2022 earnings guidance. For the three months ended June 30, 2022 and 2021, Net Income was $0.61 per diluted share and $0.56 per diluted share, respectively.

Second Quarter 2022 Highlights

•Reported Nareit FFO of $1.00 per diluted share and Core Operating Earnings of $0.94 per diluted share for the second quarter

•Raised 2022 Nareit FFO guidance to a range of $3.92 to $3.96 per diluted share

•Reported that Same Property NOI excluding lease termination fees and prior year collections increased 3.1% during the second quarter over the same period a year ago

•Increased Same Property percent leased by 160 basis points to 94.5%, and Same Property small shop percent leased by 220 basis points to 91.0%, compared to June 30, 2021

•Executed 1.3 million square feet of comparable new and renewal leases during the second quarter at a blended cash rent spread of +8.8%

•Started approximately $50 million of new development and redevelopment projects and completed nearly $12 million of redevelopment projects during the second quarter, each at Regency’s share

•Net project costs for Regency’s in-process development and redevelopment projects were approximately $390 million as of June 30, 2022

•Completed property acquisitions of $130 million and property dispositions of $40 million during the second quarter, each at Regency’s share

•Repurchased approximately 1.3 million shares of common stock at an average price of $58.25 per share, for $75.4 million

•Issued the Company’s fifth annual Corporate Responsibility Report on May 24, 2022

•Achieved pro-rata net debt-to-operating EBITDAre of 5.0x as of June 30, 2022

•Subsequent to quarter end, on August 2, 2022, Regency’s Board of Directors (the “Board”) declared a quarterly cash dividend on the Company’s common stock of $0.625 per share

"Despite the macroeconomic pressures that exist today, our operating trends remain strong, as we produced another quarter of solid results, leading us to raise full-year guidance" said Lisa Palmer, President and Chief Executive Officer. "Robust leasing activity and our value creation pipeline provide further tailwinds to our growth outlook for the remainder of the year, while the strength of our balance sheet allows us to be patient and opportunistic. Also, as a foundational strategy for Regency, we were pleased to highlight our ESG achievements during the quarter and provide aggressive de-carbonization and other sustainability targets."

Supplemental Information iii

Financial Results

Net Income

•For the three months ended June 30, 2022, Net Income Attributable to Common Stockholders (“Net Income”) was $104.8 million, or $0.61 per diluted share, compared to Net Income of $95.5 million, or $0.56 per diluted share, for the same period in 2021.

Nareit FFO

•For the three months ended June 30, 2022, Nareit Funds From Operations (“Nareit FFO”) was $173.9 million, or $1.00 per diluted share, compared to $168.4 million, or $0.99 per diluted share, for the same period in 2021.

oNareit FFO in the second quarter of 2022 includes positive uncollectible lease income of $5.3 million at Regency’s share, or $0.03 per diluted share, favorably impacted by the collection of revenues reserved during 2020 and 2021. Additional detail on uncollectible lease income is on page 34 of the second quarter 2022 supplemental package.

oNareit FFO in the second quarter of 2022 also benefitted from the reversal of straight-line rent reserves of $3.5 million at Regency’s share, or $0.02 per diluted share, triggered by the conversion of some cash basis tenants back to accrual basis accounting.

Core Operating Earnings

•For the three months ended June 30, 2022, Core Operating Earnings was $163.1 million, or $0.94 per diluted share, compared to $161.6 million, or $0.95 per diluted share, for the same period in 2021.

Portfolio Performance

Same Property NOI

•Second quarter 2022 Same Property Net Operating Income (“NOI”), excluding lease termination fees, increased by 0.6% compared to the same period in 2021.

•Second quarter 2022 Same Property Net Operating Income (“NOI”), excluding lease termination fees and prior year collections, increased by 3.1% compared to the same period in 2021.

•Second quarter 2022 Same Property base rent increased by 3.0% compared to the same period in 2021.

Leased Occupancy

•As of June 30, 2022, Regency’s wholly-owned portfolio plus its pro-rata share of co-investment partnerships, was 94.2% leased.

•As of June 30, 2022, Regency’s Same Property portfolio was 94.5% leased, an increase of 20 basis points sequentially and an increase of 160 basis points compared to June 30, 2021.

oSame Property anchor percent leased, which includes spaces greater than or equal to 10,000 square feet, was 96.6%, a decline of 10 basis points sequentially.

oSame Property shop percent leased, which includes spaces less than 10,000 square feet, was 91.0%, an increase of 60 basis points sequentially.

•As of June 30, 2022, Regency’s Same Property portfolio was 92.1% commenced, an increase of 10 basis points sequentially and an increase of 110 basis points compared to June 30, 2021.

Supplemental Information iv

Leasing Activity

•During the three months ended June 30, 2022, Regency executed approximately 1.3 million square feet of comparable new and renewal leases at a blended cash rent spread of +8.8%.

•For the trailing twelve months, the Company executed approximately 6.8 million square feet of comparable new and renewal leases at a blended cash rent spread of +8.3%.

Corporate Responsibility

•On May 24, 2022, Regency issued its annual Corporate Responsibility Report, illustrating the Company’s continued sustainability commitment and leadership, as well as describing its key environmental, social, and governance initiatives and achievements. The report can be found on Regency’s Corporate Responsibility website.

•Regency achieved 2022 Green Lease Leaders Gold recognition, granted by the Institute for Market Transformation and the U.S. Department of Energy’s Better Buildings Alliance.

Capital Allocation and Balance Sheet

Developments and Redevelopments

•During the second quarter, Regency started approximately $50 million of development and redevelopment projects, at the Company’s share, including the second phase of the ground-up Baybrook East development in Houston and the redevelopment of Buckhead Landing in Atlanta.

•As of June 30, 2022, Regency’s in-process development and redevelopment projects had estimated net project costs of approximately $390 million at the Company’s share, 51% of which has been incurred to date.

•During the second quarter, the Company completed redevelopment projects with combined costs of over $12 million, at the Company’s share.

Property Transactions

•During the second quarter of 2022, the Company completed a combined total of $130 million of acquisitions at Regency’s share, including the previously-announced acquisition of its partner’s 75% interest in four properties in the RegCal JV portfolio for $88.5 million at Regency’s share, and the acquisition of an 80% interest in the Whole Foods-anchored Baederwood Shopping Center in Philadelphia for $41.3 million.

•During the second quarter of 2022, the Company completed the disposition of three properties for a combined total gross sales price of $40 million, at Regency’s share.

Balance Sheet

•During the second quarter of 2022, as part of the Company’s previously-announced stock repurchase program, Regency repurchased approximately 1.3 million shares of common stock at an average price of $58.25 per share, for $75.4 million.

•As previously announced, during the second quarter of 2022 the Company settled approximately 1.0 million shares under forward sale agreements in connection with its ATM program, entered into during 2021 at an average gross issuance price of $65.78 per share.

•As of June 30, 2022, Regency had full capacity available under its $1.2 billion revolving credit facility.

•As of June 30, 2022, Regency’s pro-rata net debt-to-operating EBITDAre ratio was 5.0x.

Dividend

•On August 2, 2022, Regency’s Board declared a quarterly cash dividend on the Company’s common stock of $0.625 per share. The dividend is payable on October 4, 2022, to shareholders of record as of September 15, 2022.

Supplemental Information v

2022 Guidance

Regency Centers has updated its 2022 guidance, as summarized in the table below. Please refer to the Company’s "Business Update" presentation for additional detail on its guidance, as well as in the second quarter 2022 supplemental package. All materials are posted on the Company’s website at investors.regencycenters.com.

Full Year 2022 Guidance (in thousands, except per share data)	2Q YTD	Current Guidance	Prior Guidance
Net Income Attributable to Common Stockholders per diluted share	$1.74	$2.60 - $2.64	$2.50 - $2.56
Nareit Funds From Operations ("Nareit FFO") per diluted share	$2.04	$3.92 - $3.96	$3.84 - $3.90
Core Operating Earnings per diluted share (1)	$1.91	$3.70 - $3.74	$3.65 - $3.71
Same property NOI growth without termination fees	4.1%	+1.25% to +2.25%	0% to +1.5%
Same property NOI growth without termination fees or collection of PY reserves	8.6%	+4.75% to +5.75%	+3.5% to +5.0%
Collection of Prior Year Reserves (2)	$15,033	+/- $18,000	+/- $18,000
Certain non-cash items (3)	$22,457	+/- $37,500	+/- $33,500
Impact from Reversal of Uncollectible Straight-Line Rent Receivables (4)	$7,494	$7,494	$3,967
Net G&A expense	$43,598	$86,000 - $88,000	$82,500 - $85,500
Net interest expense	$82,984	$166,000 - $167,000	$165,000 - $166,000
Recurring third party fees & commissions	$12,654	$24,000 - $25,000	$24,000 - $25,000
Development and Redevelopment spend	$57,972	+/- $140,000	+/- $150,000
Acquisitions	$170,908	+/- $170,000	+/- $170,000
Cap rate (weighted average)	5.6%	+/- 5.6%	+/- 5.6%
Dispositions	$177,604	+/-$190,000	+/-$210,000
Cap rate (weighted average) (5)	3.0%	+/- 3.3%	+/- 3.7%
Forward ATM settlement (gross)	$64,768	+/- $65,000	+/- $65,000
Share Repurchase settlement (gross)	$75,393	+/- $75,000	$0

(1)Core Operating Earnings excludes certain non-cash items, including straight-line rents, above/below market rent amortization, and amortization of mark-to-market debt, as well as transaction related income/expenses and debt extinguishment charges.

(2)Represents the expected collection in 2022 of revenues in the Same Property portfolio reserved in 2020 and 2021; included in Uncollectible Lease Income.

(3)Includes above and below market rent amortization, straight-line rents, and amortization of mark-to-market debt adjustments.

(4)Positive impact on Uncollectible Straight-Line Rent from the conversion of cash basis tenants back to an accrual basis of accounting, only included in guidance as tenants are converted.

(5)Weighted average cap rates exclude non-income producing assets; 2022 average cap rates include the sale of Costa Verde in 1Q22 ($125M at a ~1.5% cap rate).

Supplemental Information vi

Conference Call Information

To discuss Regency’s second quarter results and provide further business updates, management will host a conference call on Friday, August 5, 2022, at 10:00 a.m. ET. Dial-in and webcast information is below.

Second Quarter 2022 Earnings Conference Call

Date:	Friday, August 5, 2022
Time:	10:00 a.m. ET
Dial#:	877-407-0789 or 201-689-8562
Webcast:	2nd Quarter 2022 Webcast Link

Replay: Webcast Archive: Investor Relations page under Events & Webcasts

About Regency Centers Corporation (Nasdaq: REG)

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit RegencyCenters.com.

Reconciliation of Net Income Attributable to Common Stockholders to Nareit FFO and Core Operating

Earnings - Actual (in thousands)

For the Periods Ended June 30, 2022 and 2021	Three Months Ended						Year to Date
	2022			2021			2022			2021
Reconciliation of Net Income to Nareit FFO:
Net Income Attributable to Common Stockholders	$	104,796			95,490		$	300,024			176,146
Adjustments to reconcile to Nareit Funds From Operations (1):
Depreciation and amortization (excluding FF&E)		85,738			81,177			169,868			165,671
Gain on sale of real estate		(17,089	)		(19,777	)		(119,099	)		(31,847	)
Provision for impairment of real estate		-			11,091			-			11,091
Exchangeable operating partnership units		452			432			1,315			796
Nareit Funds From Operations	$	173,897			168,413		$	352,108			321,857
Reconciliation of Nareit FFO to Core Operating Earnings:
Nareit Funds From Operations	$	173,897			168,413		$	352,108			321,857
Adjustments to reconcile to Core Operating Earnings (1):
Early extinguishment of debt		176			-			176			-
Certain Non-Cash Items
Straight line rent		(2,534	)		(2,861	)		(6,012	)		(6,290	)
Uncollectible straight line rent		(3,071	)		1,962			(5,454	)		4,535
Above/below market rent amortization, net		(5,323	)		(5,728	)		(10,715	)		(11,708	)
Debt premium/discount amortization		(51	)		(183	)		(157	)		(92	)
Core Operating Earnings	$	163,094			161,603		$	329,946			308,302
Weighted Average Shares For Diluted Earnings per Share		172,424			170,172			172,036			170,065
Weighted Average Shares For Diluted FFO and Core Operating Earnings per Share		173,165			170,935			172,791			170,828

(1)Includes Regency's consolidated entities and its pro-rata share of unconsolidated co-investment partnerships, net of pro-rata share attributable to noncontrolling interests.

Supplemental Information vii

Same Property NOI is a key non-GAAP measure used by management in evaluating the operating performance of Regency’s properties. The Company provides a reconciliation of Net Income Attributable to Common Stockholders to pro-rata Same Property NOI.

Reconciliation of Net Income Attributable to Common Stockholders to Pro-Rata Same Property NOI – Actual (in thousands)

For the Periods Ended June 30, 2022 and 2021	Three Months Ended						Year to Date
	2022			2021			2022			2021
Net income attributable to common stockholders	$	104,796			95,490		$	300,024			176,146
Less:
Management, transaction, and other fees		(6,499	)		(7,355	)		(13,183	)		(13,748	)
Other(1)		(12,110	)		(8,355	)		(24,731	)		(16,059	)
Plus:
Depreciation and amortization		79,350			74,217			157,192			151,476
General and administrative		17,645			19,187			36,437			40,474
Other operating expense		617			1,177			2,790			1,875
Other expense (income)		37,876			14,168			(24,840	)		37,920
Equity in income of investments in real estate excluded from NOI (2)		(375	)		24,943			12,013			38,244
Net income attributable to noncontrolling interests		1,191			1,342			2,779			2,311
NOI		222,491			214,814			448,481			418,639
Less non-same property NOI (3)		(5,271	)		2,486			(8,983	)		3,622
Same Property NOI	$	217,220			217,300		$	439,498			422,261
Same Property NOI without Termination Fees	$	216,280			215,050		$	436,610			419,595
Same Property NOI without Termination Fees or Redevelopments	$	191,199			192,437		$	384,114			371,638
Same Property NOI without Termination Fees or Collection of PY Reserves	$	210,525			204,097		$	421,577			388,075

(1)Includes straight-line rental income and expense, net of reserves, above and below market rent amortization, other fees, and noncontrolling interests.

(2)Includes non-NOI expenses incurred at our unconsolidated real estate partnerships, such as, but not limited to, straight-line rental income, above and below market rent amortization, depreciation and amortization, interest expense, and real estate gains and impairments.

(3)Includes revenues and expenses attributable to Non-Same Property, Projects in Development, corporate activities, and noncontrolling interests. Also includes adjustments for earnings at the four and seven properties we acquired from our former unconsolidated RegCal and USAA partnerships in 2022 and 2021, respectively.

Reported results are preliminary and not final until the filing of the Company’s Form 10-Q with the SEC and, therefore, remain subject to adjustment.

The Company has published forward-looking statements and additional financial information in its second quarter 2022 supplemental package that may help investors estimate earnings. A copy of the Company’s second quarter 2022 supplemental package will be available on the Company's website at investors.regencycenters.com or by written request to: Investor Relations, Regency Centers Corporation, One Independent Drive, Suite 114, Jacksonville, Florida, 32202. The supplemental package contains more detailed financial and property results including financial statements, an outstanding debt summary, acquisition and development activity, investments in partnerships, information pertaining to securities issued other than common stock, property details, a significant tenant rent report and a lease expiration table in addition to earnings and valuation guidance assumptions. The information provided in the supplemental package is unaudited and includes non-GAAP measures, and there can be no assurance that the information will not vary from the final information in the Company’s Form 10-Q for the period ended June 30, 2022. Regency may, but assumes no obligation to, update information in the supplemental package from time to time.

###

Supplemental Information viii

Non-GAAP Disclosure

We believe these non-GAAP measures provide useful information to our Board of Directors, management and investors regarding certain trends relating to our financial condition and results of operations. Our management uses these non-GAAP measures to compare our performance to that of prior periods for trend analyses, purposes of determining management incentive compensation and budgeting, forecasting and planning purposes.

We do not consider non-GAAP measures an alternative to financial measures determined in accordance with GAAP, rather they supplement GAAP measures by providing additional information we believe to be useful to our shareholders. The principal limitation of these non-GAAP financial measures is they may exclude significant expense and income items that are required by GAAP to be recognized in our consolidated financial statements. In addition, they reflect the exercise of management’s judgment about which expense and income items are excluded or included in determining these non-GAAP financial measures. In order to compensate for these limitations, reconciliations of the non-GAAP financial measures we use to their most directly comparable GAAP measures are provided. Non-GAAP financial measures should not be relied upon in evaluating the financial condition, results of operations or future prospects of the Company.

Nareit FFO is a commonly used measure of REIT performance, which the National Association of Real Estate Investment Trusts (“Nareit”) defines as net income, computed in accordance with GAAP, excluding gains on sale and impairments of real estate, net of tax, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Regency computes Nareit FFO for all periods presented in accordance with Nareit's definition. Since Nareit FFO excludes depreciation and amortization and gains on sales and impairments of real estate, it provides a performance measure that, when compared year over year, reflects the impact on operations from trends in percent leased, rental rates, operating costs, acquisition and development activities, and financing costs. This provides a perspective of the Company’s financial performance not immediately apparent from net income determined in accordance with GAAP. Thus, Nareit FFO is a supplemental non-GAAP financial measure of the Company's operating performance, which does not represent cash generated from operating activities in accordance with GAAP; and, therefore, should not be considered a substitute measure of cash flows from operations. The Company provides a reconciliation of Net Income Attributable to Common Stockholders to Nareit FFO.

Core Operating Earnings is an additional performance measure that excludes from Nareit FFO: (i) transaction related income or expenses; (ii) gains or losses from the early extinguishment of debt; (iii) certain non-cash components of earnings derived from above and below market rent amortization, straight-line rents, and amortization of mark-to-market of debt adjustments; and (iv) other amounts as they occur. The Company provides a reconciliation of Net Income to Nareit FFO to Core Operating Earnings.

Forward-Looking Statements

Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to Regency’s future events, developments, or financial or operational performance or results such as our 2022 Guidance, are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as “may,” “will,” “should,” “expect,” “estimate,” “believe,” “intend,” “forecast,” “anticipate,” “guidance,” and other similar language. However, the absence of these or similar words or expressions does not mean a statement is not forward-looking. While we believe these forward-looking statements are reasonable when made, forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance these expectations will be attained, and it is possible actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Our operations are subject to a number of risks and uncertainties including, but not limited to, those risk factors described in our SEC filings. When considering an investment in our securities, you should carefully read and consider these risks, together with all other information in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our other filings and submissions to the SEC. If any of the events described in the risk factors actually occur, our business, financial condition or operating results, as well as the market price of our securities, could be materially adversely affected. Forward-looking statements are only as of the date they are made, and Regency undertakes no duty to update its forward-looking statements except as required by law. These risks and events include, without limitation:

Risk Factors Related to Pandemics or other Health Crises

Supplemental Information ix

Pandemics or other health crises, such as the COVID-19 pandemic, may adversely affect our tenants’ financial condition, the profitability of our properties, and our access to the capital markets and could have a material adverse effect on our business, results of operations, cash flows and financial condition.

Risk Factors Related to Operating Retail-Based Shopping Centers

Economic and market conditions may adversely affect the retail industry and consequently reduce our revenues and cash flow, and increase our operating expenses. Shifts in retail trends, sales, and delivery methods between brick and mortar stores, e-commerce, home delivery, and curbside pick-up may adversely impact our revenues and cash flows. Changing economic and retail market conditions in geographic areas where our properties are concentrated may reduce our revenues and cash flow. In addition, labor challenges and supply delays and shortages due to a variety of macroeconomic factors, including inflationary pressures, could affect the retail industry. Our success depends on the continued presence and success of our “anchor” tenants. A significant percentage of our revenues are derived from smaller “shop space” tenants and our net income may be adversely impacted if our smaller shop tenants are not successful. We may be unable to collect balances due from tenants in bankruptcy. Many of our costs and expenses associated with operating our properties may remain constant or increase, even if our lease income decreases. Compliance with the Americans with Disabilities Act and fire, safety and other regulations may have a negative effect on us.

Risk Factors Related to Real Estate Investments

Our real estate assets may decline in value and be subject to impairment losses which may reduce our net income. We face risks associated with development, redevelopment and expansion of properties. We face risks associated with the development of mixed-use commercial properties. We face risks associated with the acquisition of properties. We may be unable to sell properties when desired because of market conditions. Changes in tax laws could impact our acquisition or disposition of real estate.

Risk Factors Related to the Environment Affecting Our Properties

Climate change may adversely impact our properties directly, and may lead to additional compliance obligations and costs as well as additional taxes and fees. Geographic concentration of our properties makes our business more vulnerable to natural disasters, severe weather conditions and climate change. Costs of environmental remediation may impact our financial performance and reduce our cash flow.

Risk Factors Related to Corporate Matters

An increased focus on metrics and reporting relating to environmental, social, and governance (“ESG”) factors may impose additional costs and expose us to new risks. An uninsured loss or a loss that exceeds the insurance coverage on our properties may subject us to loss of capital and revenue on those properties. Failure to attract and retain key personnel may adversely affect our business and operations. The unauthorized access, use, theft or destruction of tenant or employee personal, financial or other data or of Regency’s proprietary or confidential information stored in our information systems or by third parties on our behalf could impact our reputation and brand and expose us to potential liability and loss of revenues.

Risk Factors Related to Our Partnerships and Joint Ventures

We do not have voting control over all of the properties owned in our co-investment partnerships and joint ventures, so we are unable to ensure that our objectives will be pursued. The termination of our partnerships may adversely affect our cash flow, operating results, and our ability to make distributions to stock and unit holders.

Risk Factors Related to Funding Strategies and Capital Structure

Our ability to sell properties and fund acquisitions and developments may be adversely impacted by higher market capitalization rates and lower NOI at our properties which may dilute earnings. We depend on external sources of capital, which may not be available in the future on favorable terms or at all. Our debt financing may adversely affect our business and financial condition. Covenants in our debt agreements may restrict our operating activities and adversely affect our financial condition. Increases in interest rates would cause our borrowing costs to rise and negatively impact our results of operations. Hedging activity may expose us to risks, including the risks that a counterparty will not perform and that the hedge will not yield the economic benefits we anticipate, which may adversely affect us. The interest rates on our Unsecured Credit facilities as well as on our variable rate mortgages and interest rate swaps might change based on changes to the method in which LIBOR or its replacement rate is determined.

Supplemental Information x

Risk Factors Related to the Market Price for Our Securities

Changes in economic and market conditions may adversely affect the market price of our securities. There is no assurance that we will continue to pay dividends at historical rates.

Risk Factors Relating to the Company’s Qualification as a REIT

If the Company fails to qualify as a REIT for federal income tax purposes, it would be subject to federal income tax at regular corporate rates. Dividends paid by REITs generally do not qualify for reduced tax rates. Certain foreign stockholders may be subject to U.S. federal income tax on gain recognized on a disposition of our common stock if we do not qualify as a “domestically controlled” REIT. Legislative or other actions affecting REITs may have a negative effect on us. Complying with REIT requirements may limit our ability to hedge effectively and may cause us to incur tax liabilities.

Risk Factors Related to the Company’s Common Stock

Restrictions on the ownership of the Company’s capital stock to preserve its REIT status may delay or prevent a change in control. The issuance of the Company's capital stock may delay or prevent a change in control. Ownership in the Company may be diluted in the future.

Supplemental Information xi

Summary Financial Information

June 30, 2022

(in thousands, except per share data)

	Three Months Ended		Year to Date
	2022	2021	2022	2021
Financial Results
Net income attributable to common stockholders (page 4)	$104,796	$95,490	$300,024	$176,146
Net income per diluted share	$0.61	$0.56	$1.74	$1.04
Nareit Funds From Operations (Nareit FFO) (page 9)	$173,897	$168,413	$352,108	$321,857
Nareit FFO per diluted share	$1.00	$0.99	$2.04	$1.88
Core Operating Earnings (page 9)	$163,094	$161,603	$329,946	$308,302
Core Operating Earnings per diluted share	$0.94	$0.95	$1.91	$1.80
Same Property NOI without termination fees (page 8)	$216,280	$215,050	$436,610	$419,595
% growth	0.6%		4.1%
Same Property NOI without termination fees or collection of PY reserves (page 8)	$210,525	$204,097	$421,577	$388,075
% growth	3.1%		8.6%
Operating EBITDAre(page 9)	$206,565	$205,213	$417,185	$396,165
Dividends declared per share and unit	$0.625	$0.595	$1.250	$1.190
Payout ratio of Core Operating Earnings per share (diluted)	66.5%	62.6%	65.4%	66.1%
Diluted share and unit count
Weighted average shares (diluted) - Net income	172,424	170,172	172,036	170,065
Weighted average shares (diluted) - Nareit FFO and Core Operating Earnings	173,165	170,935	172,791	170,828

_________________________________________________________________________________________________

	As of	As of	As of	As of
	6/30/2022	12/31/2021	12/31/2020	12/31/2019
Capital Information
Market price per common share	$59.31	$75.35	$45.59	$63.09
Common shares outstanding	171,173	171,213	169,680	167,571
Exchangeable units held by noncontrolling interests	741	760	765	746
Common shares and equivalents issued and outstanding	171,914	171,973	170,445	168,317
Market equity value of common and convertible shares	$10,196,251	$12,958,170	$7,770,596	$10,619,161
Outstanding debt	$4,254,964	$4,235,735	$4,457,742	$4,445,591
Less: cash	(121,190)	(95,027)	(378,450)	(115,562)
Net debt	$4,133,774	$4,140,708	$4,079,292	$4,330,029
Total market capitalization	$14,330,025	$17,098,878	$11,849,888	$14,949,190
Debt metrics (pro-rata; trailing 12 months "TTM")
Net Debt-to-Operating EBITDAre	5.0x	5.1x	6.0x	5.4x
Fixed charge coverage	4.6x	4.5x	3.6x	4.3x

Supplemental Information1

Summary Real Estate Information

June 30, 2022

(GLA in thousands)

Wholly Owned and 100% of Co-investment Partnerships	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021
Number of properties	404		406		405		402		403
Number of retail operating properties	399		402		401		396		396
Number of same properties	390		393		393		394		394
Number of properties in redevelopment	6		6		7		9		10
Number of properties in development (1)	4		3		2		3		3
Gross Leasable Area (GLA) - All properties		51,102		51,283		51,164		50,600		50,901
GLA including retailer-owned stores - All properties		54,849		55,030		54,910		54,270		54,571
GLA - Retail operating properties		50,416		50,753		50,885		50,079		50,234
GLA - Same properties		49,205		49,553		49,759		49,829		49,984
GLA - Properties in redevelopment (2)		1,958		2,315		2,476		2,758		3,016
GLA - Properties in development (1)		686		530		175		281		281
Wholly Owned and Pro-Rata Share of Co-investment Partnerships
GLA - All properties		43,173		42,805		42,646		42,030		41,709
GLA including retailer-owned stores - All properties		46,919		46,551		46,393		45,700		45,379
GLA - Retail operating properties		42,565		42,274		42,367		41,562		41,169
GLA - Same properties (3)		41,446		41,444		41,501		41,507		41,659
Spaces > 10,000 sf (3)		25,902		25,905		25,904		25,916		26,063
Spaces < 10,000 sf (3)		15,544		15,539		15,597		15,591		15,596
GLA - Properties in redevelopment (2)		1,958		2,315		2,476		2,657		2,915
GLA - Properties in development (1)		608		530		175		228		228
% leased - All properties	94.2%		93.9%		94.1%		93.4%		92.5%
% leased - Retail operating properties	94.5%		94.3%		94.2%		93.7%		92.8%
% leased - Same properties (3)	94.5%		94.3%		94.3%		93.8%		92.9%
Spaces > 10,000 sf (3)	96.6%		96.7%		97.0%		96.5%		95.4%
Spaces < 10,000 sf (3)	91.0%		90.4%		90.0%		89.4%		88.8%
Average % leased - Same properties (3)	94.3%		94.3%		93.3%		93.0%		92.7%
% commenced - Same properties (3) (4)	92.1%		92.0%		91.7%		91.5%		91.0%
Same property NOI growth - YTD (see page 8)	4.1%		8.6%		15.8%		16.1%		12.1%
Same property NOI growth without Termination Fees - YTD (see page 8)	4.1%		7.8%		16.2%		16.4%		12.8%
Same property NOI growth without Termination Fees or Redevelopments - YTD (see page 8)	3.4%		7.7%		16.1%		16.2%		13.0%
Same property NOI growth without Termination Fees or Collection of PY Reserves - YTD (see page 8)	8.6%		14.9%		9.9%		9.0%		4.0%
Rent spreads - Trailing 12 months (5) (see page 19)	8.3%		6.8%		5.5%		2.3%		1.2%

(1)Includes current ground-up developments.

(2)Represents entire center GLA rather than redevelopment portion only. Included in Same Property pool unless noted otherwise.

(3)Prior periods adjusted for current same property pool.

(4)Excludes leases that are signed but have not yet commenced.

(5)Retail operating properties only. Rent spreads are calculated on a comparable-space, cash basis for new and renewal leases executed.

Amounts may not foot due to rounding.

Supplemental Information2

Consolidated Balance Sheets

June 30, 2022 and December 31, 2021

(in thousands)

	2022			2021
	(unaudited)
Assets:
Net real estate investments:
Real estate assets at cost	$	11,762,300		$	11,495,581
Less: accumulated depreciation		2,301,183			2,174,963
		9,461,117			9,320,618
Investments in real estate partnerships		330,887			372,591
Net real estate investments		9,792,004			9,693,209
Properties held for sale		2,354			25,574
Cash, cash equivalents, and restricted cash		121,190			95,027
Tenant and other receivables (1)		159,643			153,091
Deferred leasing costs, net		65,607			65,741
Acquired lease intangible assets, net		214,264			212,707
Right of use assets		278,153			280,783
Other assets		268,600			266,431
Total assets	$	10,901,815		$	10,792,563
Liabilities and Equity:
Liabilities:
Notes payable	$	3,737,380		$	3,718,944
Accounts payable and other liabilities		322,409			322,271
Acquired lease intangible liabilities, net		357,581			363,276
Lease liabilities		214,800			215,788
Tenants' security, escrow deposits, and prepaid rent		63,510			62,352
Total liabilities		4,695,680			4,682,631
Equity:
Stockholders' Equity:
Common stock, $.01 par		1,711			1,712
Additional paid in capital		7,850,579			7,860,700
Accumulated other comprehensive loss		2,388			(10,227	)
Distributions in excess of net income		(1,729,645	)		(1,814,814	)
Total stockholders' equity		6,125,033			6,037,371
Noncontrolling Interests:
Exchangeable operating partnership units		34,611			35,447
Limited partners' interest		46,491			37,114
Total noncontrolling interests		81,102			72,561
Total equity		6,206,135			6,109,932
Total liabilities and equity	$	10,901,815		$	10,792,563

(1)For additional details, see page 43.

These consolidated balance sheets should be read in conjunction with the Company's most recent Form 10-Q and Form 10-K filed with the Securities and Exchange Commission.

Supplemental Information3

Consolidated Statements of Operations

For the Periods Ended June 30, 2022 and 2021

(in thousands)

(unaudited)

	Three Months Ended						Year to Date
	2022			2021			2022			2021
Revenues:
Lease income (1)	$	292,864			276,730		$	586,509			543,087
Other property income		2,720			3,074			5,824			5,027
Management, transaction, and other fees		6,499			7,355			13,183			13,748
Total revenues		302,083			287,159			605,516			561,862
Operating Expenses:
Depreciation and amortization		79,350			74,217			157,192			151,476
Operating and maintenance		47,750			46,566			94,211			92,148
General and administrative		17,645			19,187			36,437			40,474
Real estate taxes		36,700			35,447			73,569			71,613
Other operating expense		617			1,177			2,790			1,875
Total operating expenses		182,062			176,594			364,199			357,586
Other Expense (Income):
Interest expense, net		36,699			35,812			73,437			72,748
Provision for impairment of real estate, net of tax		-			135			-			135
Gain on sale of real estate, net of tax		(4,291	)		(19,781	)		(106,239	)		(31,479	)
Net investment loss (income)		5,468			(1,998	)		7,962			(3,484	)
Total other expense (income)		37,876			14,168			(24,840	)		37,920
Income from operations before equity in income of
investments in real estate partnerships		82,145			96,397			266,157			166,356
Equity in income of investments in real estate partnerships		23,842			435			36,646			12,101
Net income		105,987			96,832			302,803			178,457
Noncontrolling Interests:
Exchangeable operating partnership units		(452	)		(432	)		(1,315	)		(796	)
Limited partners' interests in consolidated partnerships		(739	)		(910	)		(1,464	)		(1,515	)
Income attributable to noncontrolling interests		(1,191	)		(1,342	)		(2,779	)		(2,311	)
Net income attributable to common stockholders	$	104,796			95,490		$	300,024			176,146

(1)For additional details, see page 43 .

These consolidated statements of operations should be read in conjunction with the Company's most recent Form 10-Q and Form 10-K filed with the Securities and Exchange Commission.

Supplemental Information4

Supplemental Details of Operations (Consolidated Only)

For the Periods Ended June 30, 2022 and 2021

(in thousands)

		Three Months Ended						Year to Date
		2022			2021			2022			2021
	Revenues:
*	Base rent	$	204,353			189,689		$	403,605			378,169
*	Recoveries from tenants		68,464			68,248			136,238			130,845
*	Percentage rent		751			749			5,699			4,115
*	Termination Fees		838			1,715			2,328			2,052
*	Uncollectible lease income		4,900			6,620			11,046			8,895
*	Other lease income		2,472			2,550			4,807			4,975
	Straight line rent on lease income		5,473			1,152			11,484			2,033
	Above/below market rent amortization		5,613			6,007			11,302			12,003
	Lease income (1)		292,864			276,730			586,509			543,087
*	Other property income		2,720			3,074			5,824			5,027
	Property management fees		3,310			3,753			6,928			7,524
	Asset management fees		1,670			1,719			3,425			3,434
	Leasing commissions and other fees		1,519			1,883			2,830			2,790
	Management, transaction, and other fees		6,499			7,355			13,183			13,748
	Total revenues		302,083			287,159			605,516			561,862
	Operating Expenses:
	Depreciation and amortization (including FF&E)		79,350			74,217			157,192			151,476
*	Operating and maintenance		44,000			42,734			86,660			82,922
*	Ground rent		2,962			2,882			5,970			5,671
*	Termination expense		-			125			-			1,874
	Straight line rent on ground rent		401			416			807			852
	Above/below market ground rent amortization		387			409			774			829
	Operating and maintenance		47,750			46,566			94,211			92,148
	Gross general & administrative		20,625			16,888			39,876			37,016
	Stock-based compensation		4,366			3,564			8,574			6,043
	Capitalized direct development compensation costs		(2,595	)		(2,982	)		(5,006	)		(5,441	)
	General & administrative, net		22,396			17,470			43,444			37,618
	Loss on deferred compensation plan (2)		(4,751	)		1,717			(7,007	)		2,856
	General & administrative		17,645			19,187			36,437			40,474
*	Real estate taxes		36,700			35,447			73,569			71,613
	Other expenses		773			1,177			2,781			1,709
	Development pursuit costs		(156	)		-			9			166
	Other operating expenses		617			1,177			2,790			1,875
	Total operating expenses		182,062			176,594			364,199			357,586
	Other Expense (Income):
	Gross interest expense		36,430			35,666			72,723			71,440
	Derivative amortization		110			110			219			219
	Debt cost amortization		1,396			1,395			2,786			3,374
	Debt premium/discount amortization		(58	)		(193	)		(173	)		(112	)
	Capitalized interest		(1,019	)		(1,016	)		(1,815	)		(1,865	)
	Interest income		(160	)		(150	)		(303	)		(308	)
	Interest expense, net		36,699			35,812			73,437			72,748
	Provision for impairment of real estate, net of tax		-			135			-			135
	Gain on sale of real estate, net of tax		(4,291	)		(19,781	)		(106,239	)		(31,479	)
	Net investment loss (income) (2)		5,468			(1,998	)		7,962			(3,484	)
	Total other expense (income)		37,876			14,168			(24,840	)		37,920

* Component of Net Operating Income

(1)For additional details, see page 43.

(2)The change in value of participant obligations within Regency’s non-qualified deferred compensation plan is included in General and administrative expense, which is offset by changes in value of assets held in the plan which is included in Net investment income.

These consolidated supplemental details of operations should be read in conjunction with the Company's most recent Form 10-Q and Form 10-K filed with the Securities and Exchange Commission.

Supplemental Information5

Supplemental Details of Assets and Liabilities (Real Estate Partnerships Only)

June 30, 2022 and December 31, 2021

(in thousands)

	Noncontrolling Interests						Share of JVs
	2022			2021			2022		2021
Assets:
Real estate assets at cost	$	(101,666	)		(87,578	)	$	1,218,848		1,280,979
Less: accumulated depreciation		(18,434	)		(17,396	)		433,082		441,893
Net real estate investments		(83,232	)		(70,182	)		785,766		839,086
Cash, cash equivalents, and restricted cash		(3,723	)		(2,669	)		24,864		16,179
Tenant and other receivables (1)		(2,421	)		(2,158	)		22,377		23,899
Deferred leasing costs, net		(1,244	)		(1,278	)		14,576		14,764
Acquired lease intangible assets, net		(1,488	)		(392	)		5,142		5,566
Right of use assets		(1,607	)		(1,613	)		5,155		5,266
Other assets		(855	)		(66	)		25,718		21,381
Total assets	$	(94,570	)		(78,358	)	$	883,598		926,141
Liabilities:
Notes payable	$	(40,599	)		(36,290	)	$	517,584		516,791
Accounts payable and other liabilities		(4,896	)		(2,577	)		19,756		22,741
Acquired lease intangible liabilities, net		(313	)		(117	)		5,224		5,884
Lease liabilities		(1,929	)		(1,912	)		4,292		4,325
Tenants' security, escrow deposits, and prepaid rent		(342	)		(348	)		5,855		3,809
Total liabilities	$	(48,079	)		(41,244	)	$	552,711		553,550

(1)For additional details, see page 43.

Note

Noncontrolling interests represent limited partners' interests in consolidated partnerships' activities and Share of JVs represents the Company's share of co-investment partnerships' activities, of which each are included on a single line presentation in the Company's consolidated financial statements in accordance with GAAP.

Supplemental Information6

Supplemental Details of Operations (Real Estate Partnerships Only)

For the Periods Ended June 30, 2022 and 2021

(in thousands)

		Noncontrolling Interests												Share of JVs
		Three Months Ended						Year to Date						Three Months Ended						Year to Date
		2022			2021			2022			2021			2022			2021			2022			2021
	Revenues:
*	Base rent	$	(1,967	)		(2,122	)	$	(3,954	)		(3,949	)	$	24,085			26,111		$	48,861			52,187
*	Recoveries from tenants		(549	)		(577	)		(1,086	)		(1,131	)		7,686			9,463			16,211			18,149
*	Percentage rent		-			(6	)		(1	)		(6	)		265			343			836			788
*	Termination Fees		(11	)		(10	)		(11	)		(11	)		103			367			562			458
*	Uncollectible lease income		(40	)		(43	)		(53	)		(112	)		443			352			992			507
*	Other lease income		(34	)		(31	)		(66	)		(62	)		350			387			651			726
	Straight line rent on lease income		(120	)		4			(159	)		(4	)		714			123			1,038			510
	Above/below market rent amortization		-			(8	)		(2	)		(15	)		106			147			208			568
	Lease income (1)		(2,721	)		(2,793	)		(5,332	)		(5,290	)		33,752			37,293			69,359			73,893
*	Other property income		(1	)		(4	)		(4	)		(7	)		201			132			327			77
	Asset management fees		-			-			-			-			(250	)		(268	)		(529	)		(536	)
	Management, transaction, and other fees		-			-			-			-			(250	)		(268	)		(529	)		(536	)
	Total revenues		(2,722	)		(2,797	)		(5,336	)		(5,297	)		33,703			37,157			69,157			73,434
	Operating Expenses:
	Depreciation and amortization (including FF&E)		(688	)		(722	)		(1,333	)		(1,414	)		7,611			8,258			15,033			16,760
*	Operating and maintenance		(402	)		(450	)		(894	)		(895	)		5,280			5,999			10,879			11,954
*	Ground rent		(30	)		(29	)		(59	)		(56	)		86			85			154			174
	Straight line rent on ground rent		(15	)		(16	)		(30	)		(32	)		30			30			60			60
	Above/below market ground rent amortization		-			-			-			-			9			9			19			19
	Operating and maintenance		(447	)		(495	)		(983	)		(983	)		5,405			6,123			11,112			12,207
	General & administrative, net		-			-			-			-			94			82			154			192
*	Real estate taxes		(358	)		(293	)		(696	)		(623	)		4,300			5,693			8,748			10,419
	Other expenses		(23	)		(27	)		(55	)		(62	)		268			522			514			766
	Development pursuit costs		-			-			-			-			4			6			5			6
	Other operating expenses		(23	)		(27	)		(55	)		(62	)		272			528			519			772
	Total operating expenses		(1,516	)		(1,537	)		(3,067	)		(3,082	)		17,682			20,684			35,566			40,350
	Other Expense (Income):
	Gross interest expense		(360	)		(339	)		(688	)		(675	)		4,618			4,855			9,259			9,975
	Debt cost amortization		(13	)		(11	)		(23	)		(25	)		82			213			260			400
	Debt premium/discount amortization		(12	)		-			(12	)		-			19			10			28			20
	Interest expense, net		(385	)		(350	)		(723	)		(700	)		4,719			5,078			9,547			10,395
	Provision for impairment of real estate		-			-			-			-			-			10,956			-			10,956
	Gain on sale of real estate		(82	)		-			(82	)		-			(12,716	)		4			(12,778	)		(368	)
	Early extinguishment of debt		-			-			-			-			176			-			176			-
	Total other expense (income)		(467	)		(350	)		(805	)		(700	)		(7,821	)		16,038			(3,055	)		20,983

* Component of Net Operating Income

(1)For additional details, see page 43.

Note

Noncontrolling interests represent limited partners’ interests in consolidated partnerships’ activities and Share of JVs represents the Company’s share of co-investment partnerships’ activities, of which each are included on a single line presentation in the Company’s consolidated financial statements in accordance with GAAP.

Supplemental Information7

Supplemental Details of Same Property NOI (Pro-Rata)

For the Periods Ended June 30, 2022 and 2021

(in thousands)

	Three Months Ended						Year to Date
	2022			2021			2022			2021
Same Property NOI Detail:
Real Estate Revenues:
Base rent	$	221,717			215,203		$	440,930			428,658
Recoveries from tenants		73,794			77,948			148,354			149,124
Percentage rent		1,015			1,086			6,511			4,897
Termination fees		940			2,250			2,888			2,666
Uncollectible lease income		5,282			7,239			12,095			9,046
Other lease income		2,866			2,894			5,473			5,602
Other property income		2,196			2,435			4,589			3,728
Total real estate revenues		307,810			309,055			620,840			603,721
Real Estate Operating Expenses:
Operating and maintenance		48,120			47,918			95,881			94,148
Real estate taxes		39,518			40,884			79,597			81,419
Ground rent		2,952			2,953			5,864			5,893
Total real estate operating expenses		90,590			91,755			181,342			181,460
Same Property NOI	$	217,220			217,300		$	439,498			422,261
% change		0.0	%					4.1	%
Same Property NOI without Termination Fees	$	216,280			215,050		$	436,610			419,595
% change		0.6	%					4.1	%
Same Property NOI without Termination Fees or Redevelopments	$	191,199			192,437		$	384,114			371,638
% change		-0.6	%					3.4	%
Same Property NOI without Termination Fees or Collection of PY Reserves	$	210,525			204,097		$	421,577			388,075
% change		3.1	%					8.6	%
Percent Contribution to Same Property NOI Performance
Base rent		3.0	%					2.9	%
Uncollectible lease income - current year (2022) revenues		1.5	%					4.7	%
Recovery of prior year (2020/2021) reserves		-2.4	%					-3.9	%
Net expense recoveries		-1.4	%					-0.2	%
Other lease / property income		-0.1	%					0.2	%
Percentage rent		0.0	%					0.4	%
Same Property NOI without Termination Fees (% change)		0.6	%					4.1	%
Reconciliation of Net Income Attributable to Common Stockholders to Same Property NOI:
Net income attributable to common stockholders	$	104,796			95,490		$	300,024			176,146
Less:
Management, transaction, and other fees		(6,499	)		(7,355	)		(13,183	)		(13,748	)
Other (1)		(12,110	)		(8,355	)		(24,731	)		(16,059	)
Plus:
Depreciation and amortization		79,350			74,217			157,192			151,476
General and administrative		17,645			19,187			36,437			40,474
Other operating expense		617			1,177			2,790			1,875
Other (income) expense		37,876			14,168			(24,840	)		37,920
Equity in income of investments in real estate excluded from NOI (2)		(375	)		24,943			12,013			38,244
Net income attributable to noncontrolling interests		1,191			1,342			2,779			2,311
NOI		222,491			214,814			448,481			418,639
Less non-same property NOI (3)		(5,271	)		2,486			(8,983	)		3,622
Same Property NOI	$	217,220			217,300		$	439,498			422,261

(1)Includes straight-line rental income and expense, net of reserves, above and below market rent amortization, other fees, and noncontrolling interests.

(2)Includes non-NOI income and expenses incurred at our unconsolidated real estate partnerships, such as, but not limited to, straight-line rental income, above and below market rent amortization, depreciation and amortization, interest expense, and real estate gains and impairments.

(3)Includes revenues and expenses attributable to Non-Same Property, Projects in Development, corporate activities, and noncontrolling interests. Also includes adjustments for earnings at the four and seven properties we acquired from our former unconsolidated RegCal and USAA partnerships in 2022 and 2021, respectively, in order to calculate growth on a comparable basis for the periods presented.

Supplemental Information8

Reconciliations of Non-GAAP Financial Measures

For the Periods Ended June 30, 2022 and 2021

(in thousands, except per share data)

	Three Months Ended						Year to Date
	2022			2021			2022			2021
Reconciliation of Net Income to Nareit FFO:
Net Income Attributable to Common Stockholders	$	104,796			95,490		$	300,024			176,146
Adjustments to reconcile to Nareit Funds From Operations (1):
Depreciation and amortization (excluding FF&E)		85,738			81,177			169,868			165,671
Gain on sale of real estate		(17,089	)		(19,777	)		(119,099	)		(31,847	)
Provision for impairment of real estate		-			11,091			-			11,091
Exchangeable operating partnership units		452			432			1,315			796
Nareit Funds From Operations	$	173,897			168,413		$	352,108			321,857
Nareit FFO per share (diluted)	$	1.00			0.99		$	2.04			1.88
Weighted average shares (diluted)		173,165			170,935			172,791			170,828
Reconciliation of Nareit FFO to Core Operating Earnings:
Nareit Funds From Operations	$	173,897			168,413		$	352,108			321,857
Adjustments to reconcile to Core Operating Earnings (1):
Early extinguishment of debt		176			-			176			-
Certain Non Cash Items
Straight line rent		(2,534	)		(2,861	)		(6,012	)		(6,290	)
Uncollectible straight line rent		(3,071	)		1,962			(5,454	)		4,535
Above/below market rent amortization, net		(5,323	)		(5,728	)		(10,715	)		(11,708	)
Debt premium/discount amortization		(51	)		(183	)		(157	)		(92	)
Core Operating Earnings	$	163,094			161,603		$	329,946			308,302
Core Operating Earnings per share (diluted)	$	0.94			0.95		$	1.91			1.80
Weighted average shares (diluted)		173,165			170,935			172,791			170,828
Reconciliation of Net Income to Nareit EBITDAre:
Net Income	$	105,987			96,832		$	302,803			178,457
Adjustments to reconcile to Nareit EBITDAre (2):
Interest expense		41,578			41,040			83,287			83,451
Income tax expense		(97	)		167			23			227
Depreciation and amortization		86,961			82,475			172,225			168,236
Gain on sale of real estate		(17,007	)		(19,777	)		(119,017	)		(31,847	)
Provision for impairment of real estate		-			11,091			-			11,091
Nareit EBITDAre	$	217,422			211,828		$	439,321			409,615
Reconciliation of Nareit EBITDAre to Operating EBITDAre:
Nareit EBITDAre	$	217,422			211,828		$	439,321			409,615
Adjustments to reconcile to Operating EBITDAre (2):
Early extinguishment of debt		176			-			176			-
Straight line rent, net		(5,710	)		(879	)		(11,595	)		(1,727	)
Above/below market rent amortization, net		(5,323	)		(5,736	)		(10,717	)		(11,723	)
Operating EBITDAre	$	206,565			205,213		$	417,185			396,165

(1)Includes Regency’s consolidated entities and its pro-rata share of unconsolidated co-investment partnerships, net of pro-rata share attributable to noncontrolling interests, which can be found on page 7.

(2)Includes Regency’s consolidated entities and its pro-rata share of unconsolidated co-investment partnerships.

Supplemental Information9

Capital Expenditures and Additional Disclosures

For the Periods Ended June 30, 2022 and 2021

(in thousands)

	Three Months Ended				Year to Date
	2022		2021		2022		2021
Capital Expenditures:
Operating Properties (1)
Tenant allowance and landlord work	$	14,995		8,177	$	24,890		13,843
Leasing commissions		4,172		4,278		7,086		6,557
Leasing Capital Expenditures		19,167		12,455		31,976		20,400
Building improvements		6,905		3,988		13,135		5,739
Operating Capital Expenditures	$	26,072		16,443	$	45,111		26,139
Development & Redevelopment Properties (1)
Ground-up development	$	10,168		5,453	$	26,597		9,814
Redevelopment		15,311		19,558		31,375		38,214
Development & Redevelopment Expenditures	$	25,479		25,011	$	57,972		48,028
Additional Disclosures:
Other Non Cash Expense (2)
Derivative amortization	$	109		110	$	219		219
Debt cost amortization		1,465		1,597		3,022		3,749
Stock-based compensation		4,366		3,564		8,574		6,043
Other Non Cash Expense	$	5,940		5,271	$	11,815		10,011

(1)Includes Regency's consolidated entities and its pro-rata share of unconsolidated co-investment partnerships.

(2)Includes Regency's consolidated entities and its pro-rata share of unconsolidated co-investment partnerships, net of pro-rata share attributable to noncontrolling interests, which can be found on page 7.

Supplemental Information10

Summary of Consolidated Debt

June 30, 2022 and December 31, 2021

(in thousands)

Total Debt Outstanding:	6/30/2022		12/31/2021
Notes Payable:
Fixed rate mortgage loans	$	486,274	$	469,953
Variable-rate mortgage loans		4,924		5,000
Fixed rate unsecured public debt		3,052,091		3,050,632
Fixed rate unsecured private debt		194,091		193,359
Total	$	3,737,380	$	3,718,944

Schedule of Maturities by Year:	Scheduled Principal Payments		Mortgage Loan Maturities		Unsecured Maturities (1)			Total			Weighted Average Contractual Interest Rate on Maturities
2022	$	5,660		5,848		-			11,508		7.68%
2023		9,695		59,376		-			69,071		3.35%
2024		4,849		90,742		250,000			345,591		3.70%
2025		3,732		45,000		250,000			298,732		3.77%
2026		3,922		112,365		200,000			316,287		3.78%
2027		3,788		137,915		525,000			666,703		3.66%
2028		2,799		170		300,000			302,969		4.13%
2029		22		146		425,000			425,168		2.95%
2030		24		-		600,000			600,024		3.70%
2031		26		-		-			26		0.00%
>10 years		2		3		725,000			725,005		4.56%
Unamortized debt premium/(discount), net of issuance costs		-		5,114		(28,818	)		(23,704	)
	$	34,519		456,679		3,246,182			3,737,380		3.83%

Percentage of Total Debt:	6/30/2022	12/31/2021
Fixed	99.9%	99.1%
Variable	0.1%	0.1%
Current Weighted Average Contractual Interest Rates:(2)
Fixed	3.8%	3.8%
Variable	2.9%	1.6%
Combined	3.8%	3.8%
Current Weighted Average Effective Interest Rate:(3)
Combined	4.0%	4.1%
Average Years to Maturity:
Fixed	9.1	9.6
Variable	2.7	1.2

(1)Includes unsecured public and private placement debt and any drawn balance on unsecured revolving line of credit.

(2)Interest rates are calculated as of the quarter end.

(3)Effective interest rates are calculated in accordance with US GAAP, as of the quarter end, and include the impact of debt premium/(discount) amortization, issuance cost amortization, interest rate swaps, and facility fees.

Supplemental Information11

Summary of Consolidated Debt

June 30, 2022 and December 31, 2021

(in thousands)

		Contractual		Effective
Lender	Collateral	Rate		Rate(1)	Maturity	6/30/2022			12/31/2021
Secured Debt - Fixed Rate Mortqaqe Loans
John Hancock Life Insurance Company	Kirkwood Commons	7.68%			10/01/22	$	6,068		$	6,495
Wells Fargo	Hewlett I	4.41%			01/06/23		8,970			9,061
TD Bank	Black Rock Shopping Center	2.80%			04/01/23		18,835			19,029
State Farm Life Insurance Company	Tech Ridge Center	5.83%			06/01/23		1,397			2,066
American United Life Insurance Company	Westport Plaza	7.49%			08/01/23		1,626			1,789
TD Bank	Brickwalk Shopping Center	3.19%			11/01/23		31,450			31,763
Genworth Life Insurance Company	Aventura, Oakbrook & Treasure Coast	6.50%			02/28/24		5,374			6,801
Prudential Insurance Company of America	4S Commons Town Center	3.50%			06/05/24		81,678			82,531
Ellis Partners	Pruneyard	4.00%			06/30/24		2,200			2,200
Great-West Life & Annuity Insurance Co	Erwin Square	3.78%			09/01/24		10,000			10,000
PNC Bank	Circle Marina Center	2.54%			03/17/25		24,000			24,000
Prudential Insurance Company of America	Country Walk Plaza	3.91%			11/05/25		16,000			16,000
Santander Bank	Baederwood Shoppes	3.25%			12/19/26		24,365			-
Metropolitan Life Insurance Company	Westbury Plaza	3.76%			02/01/26		88,000			88,000
The Guardian Life Insurance of America	Willa Springs	3.81%			03/01/27		16,700			16,700
The Guardian Life Insurance of America	Alden Bridge	3.81%			03/01/27		26,000			26,000
The Guardian Life Insurance of America	Bethany Park Place	3.81%			03/01/27		10,200			10,200
The Guardian Life Insurance of America	Blossom Valley	3.81%			03/01/27		22,300			22,300
The Guardian Life Insurance of America	Dunwoody Hall	3.81%			03/01/27		13,800			13,800
The Guardian Life Insurance of America	Hasley Canyon Village	3.81%			03/01/27		16,000			16,000
PNC Bank	Fellsway Plaza	4.07%			06/02/27		35,733			36,019
New York Life Insurance	Oak Shade Town Center	6.05%			05/10/28		5,243			5,606
New York Life Insurance	Von's Circle Center	5.20%			10/10/28		5,396			5,751
New York Life Insurance	Copps Hill Plaza	6.06%			01/01/29		9,562			10,145
City of Rollingwood	Shops at Mira Vista	8.00%			03/01/32		187			192
Unamortized premiums on assumed debt of acquired properties, net of issuance costs							5,190			7,505
Total Fixed Rate Mortgage Loans		3.79%		3.54%		$	486,274		$	469,953
Unsecured Debt
Debt Offering (5/16/14)	Fixed-rate unsecured	3.75%			06/15/24	$	250,000		$	250,000
Debt Offering (8/17/15)	Fixed-rate unsecured	3.90%			11/01/25		250,000			250,000
Debt Placement (5/11/16)	Fixed-rate unsecured	3.81%			05/11/26		100,000			100,000
Debt Placement (8/11/16)	Fixed-rate unsecured	3.91%			08/11/26		100,000			100,000
Debt Offering (1/17/17)	Fixed-rate unsecured	3.60%			02/01/27		525,000			525,000
Debt Offering (3/9/18)	Fixed-rate unsecured	4.13%			03/15/28		300,000			300,000
Debt Offering (8/13/19)	Fixed-rate unsecured	2.95%			09/15/29		425,000			425,000
Debt Offering (5/13/20)	Fixed-rate unsecured	3.70%			06/15/30		600,000			600,000
Debt Offering (1/17/17)	Fixed-rate unsecured	4.40%			02/01/47		425,000			425,000
Debt Offering (3/6/19)	Fixed-rate unsecured	4.65%			03/15/49		300,000			300,000
Revolving Line of Credit	Variable-rate unsecured	LIBOR + 0.865%	(2)		03/23/25		-			-
Unamortized debt discount and issuance costs							(28,818	)		(31,009	)
Total Unsecured Debt, Net of Discounts		3.83%		3.98%		$	3,246,182		$	3,243,991
Variable Rate Mortgage Loans
PNC Bank	Market at Springwoods Village	SOFR + 1.40%			03/28/25	$	5,000		$	5,000
Unamortized debt discount and issuance costs							(76	)		-
Total Variable Rate Mortgage Loans		2.90%		3.18%		$	4,924		$	5,000
Total		3.83%		4.04%		$	3,737,380		$	3,718,944

(1)Effective interest rates are calculated in accordance with US GAAP, as of the quarter end, and include the impact of debt premium/(discount) amortization, issuance cost amortization, interest rate swaps, and facility and unused fees.

(2)Rate applies to drawn balance only. Additional annual facility fee of 0.15% applies to entire $1.25 billion line of credit. Maturity is subject to two additional six-month periods at the Company’s option.

Supplemental Information12

Summary of Unsecured Debt Covenants and Leverage Ratios

June 30, 2022

(in thousands)

Outstanding Unsecured Public Debt:	Origination	Maturity	Rate	Balance
	05/16/14	06/15/24	3.750%	$	250,000
	08/17/15	11/01/25	3.900%	$	250,000
	01/17/17	02/01/27	3.600%	$	525,000
	03/09/18	03/15/28	4.125%	$	300,000
	08/20/19	09/15/29	2.950%	$	425,000
	05/13/20	06/15/30	3.700%	$	600,000
	01/17/17	02/01/47	4.400%	$	425,000
	03/06/19	03/15/49	4.650%	$	300,000

Unsecured Public Debt Covenants:	Required	6/30/2022	3/31/2022	12/31/2021	9/30/2021	6/30/2021
Fair Market Value Calculation Method Covenants (1) (2)
Total Consolidated Debt to Total Consolidated Assets	≤ 65%	26%	26%	27%	27%	27%
Secured Consolidated Debt to Total Consolidated Assets	≤ 40%	3%	3%	3%	4%	3%
Consolidated Income for Debt Service to Consolidated Debt Service	≥ 1.5x	5.8x	5.6x	5.5x	5.1x	4.6x
Unencumbered Consolidated Assets to Unsecured Consolidated Debt	>150%	397%	394%	388%	383%	375%
Ratios:		6/30/2022	3/31/2022	12/31/2021	9/30/2021	6/30/2021
Consolidated Only
Net debt to total market capitalization		26.2%	22.4%	21.9%	22.6%	23.5%
Net debt to real estate assets, before depreciation		29.9%	29.7%	30.4%	28.9%	29.2%
Net debt to total assets, before depreciation		27.6%	27.4%	28.1%	26.8%	27.0%
Net debt to Operating EBITDAre - TTM		4.5x	4.4x	4.6x	4.5x	4.7x
Fixed charge coverage		5.2x	5.2x	5.1x	4.8x	4.4x
Interest coverage		5.6x	5.6x	5.5x	5.2x	4.8x
Unsecured assets to total real estate assets		89.2%	89.5%	89.4%	88.7%	89.7%
Unsecured NOI to total NOI - TTM		90.9%	90.8%	90.6%	89.8%	90.7%
Unencumbered assets to unsecured debt		323%	318%	318%	309%	307%
Total Pro-Rata Share
Net debt to total market capitalization		28.8%	24.9%	24.2%	25.2%	26.3%
Net debt to real estate assets, before depreciation		31.8%	31.7%	32.3%	30.9%	31.3%
Net debt to total assets, before depreciation		29.4%	29.3%	29.8%	28.6%	28.9%
Net debt to Operating EBITDAre - TTM		5.0x	4.9x	5.1x	5.0x	5.3x
Fixed charge coverage		4.6x	4.6x	4.5x	4.2x	3.9x
Interest coverage		5.0x	5.0x	4.9x	4.7x	4.3x

(1)For a complete listing of all Debt Covenants related to the Company’s Senior Unsecured Notes, as well as definitions of the above terms, please refer to the Company’s filings with the Securities and Exchange Commission.

(2)Current period debt covenants are finalized and submitted after the Company’s most recent Form 10-Q or Form 10-K filing.

Supplemental Information13

Summary of Unconsolidated Debt

June 30, 2022 and December 31, 2021

(in thousands)

Total Debt Outstanding:	6/30/2022		12/31/2021
Mortgage loans payable:
Fixed rate secured loans	$	1,347,278	$	1,345,904
Variable rate secured loans		91,622		91,663
Unsecured credit facilities variable rate		7,300		7,300
Total	$	1,446,200	$	1,444,867

Schedule of Maturities by Year:	Scheduled Principal Payments		Mortgage Loan Maturities			Unsecured Maturities		Total			Regency's Pro Rata Share			Weighted Average Contractual Interest Rate on Maturities
2022	$	3,378		64,843			-		68,221			24,343		4.20%
2023		3,194		216,931			-		220,125			83,325		4.18%
2024		2,205		33,690			-		35,895			14,298		3.88%
2025		3,433		137,000			-		140,433			42,567		3.57%
2026		3,807		125,255			7,300		136,362			43,671		3.57%
2027		3,802		32,800			-		36,602			12,420		2.64%
2028		3,235		83,596			-		86,831			27,177		4.03%
2029		2,724		60,000			-		62,724			12,959		4.34%
2030		1,860		179,317			-		181,177			70,399		2.88%
2031		370		352,240			-		352,610			137,070		3.14%
>10 Years		1,004		134,497			-		135,501			52,900		3.09%
Unamortized debt premium/(discount) and issuance costs (2)		-		(10,281	)		-		(10,281	)		(3,545	)
	$	29,012		1,409,888			7,300		1,446,200			517,584		3.50%

Percentage of Total Debt:	6/30/2022	12/31/2021
Fixed	93.2%	93.2%
Variable	6.8%	6.8%
Current Weighted Average Contractual Interest Rates:(1)
Fixed	3.5%	3.7%
Variable	3.1%	2.5%
Combined	3.5%	3.6%
Current Weighted Average Effective Interest Rates:(2)
Combined	3.6%	3.7%
Average Years to Maturity:
Fixed	6.1	5.6
Variable	1.0	0.3

(1)Interest rates are calculated as of the quarter end.

(2)Effective interest rates are calculated in accordance with US GAAP, as of the quarter end, and include the impact of debt premium/(discount) amortization, issuance cost, amortization, interest rate swaps, and facility and unused fees.

Supplemental Information14

Unconsolidated Investments

June 30, 2022

(in thousands)

									Regency
Investment Partner and	Number of		Total		Total		Total		Ownership	Share		Investment		Equity
Portfolio Summary Abbreviation	Properties		GLA		Assets		Debt		Interest	of Debt		6/30/2022		Pick-up
State of Oregon
(JV-C, JV-C2)		20		2,274	$	544,066	$	265,930	20.00%	$	53,186	$	49,385	$	1,862
(JV-CCV)		1		559		96,093		74,761	30.00%		22,428		5,707		700
		21		2,833		640,159		340,691
GRI
(JV-GRI)		66		8,430		1,514,240		970,295	40.00%		388,118		135,136		18,404
CalSTRS
(JV-RC) (1)		1		104		24,334		-	25.00%		-		5,765		4,251
NYSCRF
(JV-NYC) (2)		-		-		4,249		-	30.00%		-		1,195		9,211
Publix
(JV-O)		2		215		26,109		-	50.00%		-		12,756		850
Individual Investors
Ballard Blocks		2		249		129,177		-	49.90%		-		63,831		614
Town and Country Center		1		230		205,115		91,702	35.00%		32,096		39,365		12
Others		3		402		76,122		43,512	50.00%		21,756		17,747		742
		96		12,463	$	2,619,505	$	1,446,200		$	517,584	$	330,887	$	36,646

(1)On April 1, 2022, Regency completed the purchase of its partner's 75% interest in four of the six properties held in the portfolio for $88.5 million, net of cash assumed. Additionally, one of the remaining properties was sold to a third party in April 2022, leaving a single operating property in the partnership.

(2)On May 25, 2022, the NYC partnership sold the remaining two properties and distributed sales proceeds to the members. Liquidation and dissolution will follow final distributions.

Supplemental Information15

Property Transactions

June 30, 2022

(in thousands)

Acquisitions:

Date	Property Name	Co-investment Partner (REG %)	Market	Total GLA	Regency's Share of Purchase Price	Weighted Average Cap Rate	Anchor(s)
Mar-22	Naperville Plaza	Oregon (20%)	Chicago, IL	115	$10,476		Trader Joe's, Casey's Foods, Oswald Pharmacy
Mar-22	Island Village		Seattle, WA	106	30,650		Safeway, Rite Aid
Apr-22	RegCal JV Portfolio (1)		Various	523	88,500		Whole Foods, Trader Joe's, Safeway
May-22	Baederwood Shopping Center	Charter (80%)	Philadelphia, PA	116	41,282		Whole Foods
	Property Total			860	$170,908	5.6%

Dispositions:

Date	Property Name	Co-investment Partner (REG %)	Market	Total GLA		Regency's Share of Sales Price		Weighted Average Cap Rate	Anchor(s)
Jan-22	Costa Verde Center		San Diego, CA	179		$	125,000		Bristol Farms
Mar-22	Valley Centre	GRI (40%)	Baltimore, MD	220			12,704		Aldi, Michael's, PetSmart, TJ Maxx, Ross Dress for Less, Surplus Furniture & Mattress
Apr-22	Providence Commons	CalSTRS (25%)	Charlotte, NC	74			5,775		Harris Teeter
May-22	The Grove	NYC (30%)	Orlando, FL	152			19,125		Publix
May-22	Riverfront Plaza	NYC (30%)	New York, NY	129			15,000		ShopRite
	Property/Outparcel(s) Total				754	$	177,604	3.0% (2)
	Non-Income Producing Land Total					$	9,670

Note: Retailers in parenthesis are shadow anchors and not a part of the owned property.

(1)REG closed on the purchase of its partner's 75% interest in four properties from the RegCal join venture. At June 30, 2022, this JV portfolio has one remaining operating property.

(2)Weighted average cap rate includes the sale of Costa Verde for $125M at a ~1.5% cap rate.

Supplemental Information16

Summary of In-Process Developments and Redevelopments

June 30, 2022

(in thousands)

In-Process Developments and Redevelopments (1)
Shopping Centers	Market	Grocer/Anchor Tenant	Center GLA(a)		Center % Leased	Project Start	Est Initial Rent Commencement(b)	Est Stabilization Year(c)	REG'S Est Net Project Costs		% of Costs Incurred	Stabilized Yield(d)
Ground-up Developments			580		66%				$	100,834	55%	7% +/-
Carytown Exchange - Phase I & II (2)(3)	Richmond, VA	Publix		116	74%	Q4-2018	2H-2020	2024		29,234	84%	6 - 7%
East San Marco (2)	Jacksonville, FL	Publix		59	94%	Q4-2020	2H-2022	2024		19,285	79%	7 - 8%
Glenwood Green (2)(3)	Old Bridge, NJ	ShopRite/Target		355	61%	Q1-2022	2H-2023	2025		41,931	29%	6 - 7%
Eastfield at Baybrook	Houston, TX	H.E.B.		50	54%	Q2-2022	2H-2023	2025		10,384	17%	8 - 9%
Redevelopments				3,532	90%				$	288,811	49%	7% +/-
The Crossing Clarendon (4)	Metro DC	Life Time		129	97%	Q4-2018	1H-2022	2024		57,041	68%	8% +/-
The Abbot	Boston, MA	Retail/Office Users		65	51%	Q2-2019	2H-2022	2024		58,379	80%	8 - 9%
Preston Oaks (2)	Dallas, TX	H.E.B.		103	82%	Q4-2020	1H-2021	2023		22,327	71%	6% +/-
Serramonte Center	San Francisco, CA	Macy's/Target/Dick's Sporting Goods/ Ross/Nordstrom Rack		1,075	89%	Q4-2020	2H-2021	2026		55,000	65%	5% +/-
Westbard Square Phase I (4)(5)	Bethesda, MD	Giant		123	57%	Q2-2021	2H-2023	2025		37,038	29%	6% +/-
Buckhead Landing	Atlanta, GA	Publix		150	75%	Q2-2022	2H-2024	2025		25,853	4%	6% +/-
VariousRedevelopments(estcosts<$10millionindividually)				1,889	96%					33,174	22%	8 - 9%
Total In-Process (In Construction)				4,112	87%				$	389,645	51%	7 - 8%

In Process Development and Redevelopment Descriptions
Ground-up Developments
Carytown Exchange - Phase I & II	Located in Richmond's most desirable retail corridor, Carytown is a ground-up development anchored by Publix and complemented by street retail and structured parking. The Publix, Shop Bldg B, Shop Bldg E, and structured parking are now complete. Phase II commenced in 2Q21, and includes further value creation in the form of two additional multi-tenant buildings (Shop Bldgs A & C) totaling 36k SF.
East San Marco	Located in one of the most desirable areas of Jacksonville, FL, East San Marco is an infill ground-up retail development anchored by Publix. In addition, an adjacent parcel sold in August 2021 to a residential builder for housing.
Glenwood Green	Located in Old Bridge, NJ and situated on Route 9, Glenwood Green is a 350k SF ground-up development anchored by Target, ShopRite and a medical office building.
Eastfield at Baybrook	Phase 1B of ground-up development in Houston,TX. The scope for Phase 1B calls for in-line shop space & outparcels for ground lease. Combined with the previously completed Phase 1A, which features the market's leading grocer, H.E.B., Baybrook East will be approximately 156K SF.
Redevelopments
The Crossing Clarendon	Redevelopment of vacant, four-story, 1960's-era office building into a modern 129k SF mixed-use "Loft" building to complement the existing dominant, mixed-use center in Arlington, VA. The building will include ground floor retail and 110k SF of space leased to high-end health club Life Time.
The Abbot	Generational redevelopment and modernization of 3 historic buildings in the heart of Harvard Square into an unparalleled mixed-use project with flagship retail and Class A office space.
Sheridan Plaza	Repositioning with addition of Burlington, façade renovations and other placemaking enhancements.
Preston Oaks	Redevelopment includes substantial rebuild following tornado damage of a 101k SF, anchored by H.E.B. Central Market shopping center, and located in Dallas, TX. Redevelopment spend is reimbursable through insurance proceeds.
Serramonte Center	Redevelopment includes continued enhancement of a Class A mall in a premier location that includes the addition of new retail that will augment the evolving merchandising mix, redevelopment of the former J.C. Penney space, and additional redevelopment considerations in the northwest portion of the site. Redevelopment represents multiple phases occurring over approximately 4 years, with expected stabilization around 2026.
Westbard Square Phase I	Existing property includes a Giant-anchored retail center, a 3-level office building, 2 gas stations, and a vacant senior housing building. Phase I of the redevelopment will include construction of a 123k SF retail building anchored by a 70k SF Giant, and realignment of Westbard Avenue at the intersection with River Road. Regency will also participate in a joint venture whereby the partner will construct a ~100-unit senior living building.
Buckhead Landing	Buckhead Landing will be anchored by a 55k SF Publix with 38k SF of junior anchors and 57k SF of restaurant & retail space. This redevelopment will include the complete scrape and rebuild of the existing anchor box, in addition to delivering extensive site improvements and enhanced placemaking.
Various Redevelopments (est costs < $10 million individually)	Various Redevelopment properties where estimated incremental costs at each project are less than $10 million.

See page 18 for footnotes

Supplemental Information17

Development and Redevelopment Current Year Completions

June 30, 2022

(in thousands)

Current Year Development and Redevelopment Completions
Shopping Center Name	Market	Center GLA(a)		Center % Leased	Project Start	Est Initial Rent Commencement(b)	Est Stabilization Year(c)		REG's Est Net Project Costs		% of Costs Incurred	Stabilized Yield(d)
Ground-up Developments
None
Redevelopments			750	95%					$	21,031	92%	8%
Sheridan Plaza			507	94%	Q3-2019	2H-2020		2023		12,115	91%	10%
Various Redevelopment Completions (est costs < $10 million individually)			243	96%						8,916	92%	7%
Total Completions			750	95%					$	21,031	92%	8%

(1)Scope, economics and timing of development and redevelopment projects could change materially from estimates provided.

(2)Ground-up development or redevelopment that is excluded from the Same Property NOI pool.

(3)Carytown and Glenwood Green estimated costs represents Regency's pro-rata share of 64% and 70%, respectively.

(4)GLA and % Leased for The Crossing Clarendon represents the office building only, and Westbard Square Phase I represents phase I only.

(5)Estimated costs are net of expected land sale proceeds of $50m. Combined net project costs for phase I and future phases are expected to be $90m - $100m with an incremental yield of 6% - 7%. Future phase(s) will include ~200 units of apartments, 44k SF of additional retail, and ~100 for-sale townhomes.

Note: Regency’s Estimate of Net GAAP Project Costs, after additional interest and overhead capitalization, are $427,994 for Ground-up Developments and Redevelopments In-Process. Percent of costs incurred is 56% for Ground-up Developments and Redevelopments In-Process.

(a)Center GLA represents 100%.

(b)Estimated Initial Rent Commencement represents the estimated date that the anchor or first tenants at each project will rent commence.

(c)Estimated Stabilization Year represents the estimated year that the project will reach the stated stabilized yield on an annualized basis.

(d)A stabilized yield for a redevelopment property represents the incremental NOI (estimated stabilized NOI less NOI prior to project commencement) divided by the total project costs.

Supplemental Information18

Leasing Statistics

June 30, 2022

(Retail Operating Properties Only)

Leasing Statistics - Comparable
Total	Leasing Transactions		GLA (in 000s)		New Base Rent/Sq. Ft		Rent Spread % (Cash)	Rent Spread % (Straight-lined)	Weighted Avg. Lease Term		Tenant Allowance and Landlord Work/Sq. Ft.
2nd Quarter 2022		411		1,307	$	33.65	8.8%	17.1%		6.8	$	9.46
1st Quarter 2022		377		1,688		25.00	6.5%	13.2%		5.5		3.82
4th Quarter 2021		400		1,753		27.44	12.9%	21.0%		6.1		5.19
3rd Quarter 2021		421		2,019		24.06	5.1%	12.2%		5.9		5.68
Total - 12 months		1,609		6,767	$	26.97	8.3%	15.8%		6.0	$	5.80
New Leases	Leasing Transactions		GLA (in 000s)		New Base Rent/Sq. Ft		Rent Spread % (Cash)	Rent Spread % (Straight-lined)	Weighted Avg. Lease Term		Tenant Allowance and Landlord Work/Sq. Ft.
2nd Quarter 2022		111		358	$	31.56	18.3%	28.4%		10.5	$	27.50
1st Quarter 2022		88		230		31.77	8.1%	19.3%		8.3		22.94
4th Quarter 2021		111		414		28.66	45.6%	57.7%		8.0		18.14
3rd Quarter 2021		107		282		30.77	0.8%	10.0%		8.0		29.47
Total - 12 months		417		1,284	$	30.41	18.8%	29.3%		8.7	$	24.00
Renewals	Leasing Transactions		GLA (in 000s)		New Base Rent/Sq. Ft		Rent Spread % (Cash)	Rent Spread % (Straight-lined)	Weighted Avg. Lease Term		Tenant Allowance and Landlord Work/Sq. Ft.
2nd Quarter 2022		300		949	$	34.43	5.8%	13.5%		5.4	$	2.65
1st Quarter 2022		289		1,458		24.00	6.2%	12.0%		5.1		1.00
4th Quarter 2021		289		1,339		27.01	4.1%	11.1%		5.4		0.65
3rd Quarter 2021		314		1,737		22.85	6.2%	12.8%		5.6		1.41
Total - 12 months		1,192		5,483	$	26.13	5.6%	12.3%		5.4	$	1.33
Leasing Statistics - Comparable and Non-comparable
Total	Leasing Transactions		GLA (in 000s)		New Base Rent/Sq. Ft				Weighted Avg. Lease Term		Tenant Allowance and Landlord Work/Sq. Ft.
2nd Quarter 2022		465		1,572	$	32.60				6.0	$	9.77
1st Quarter 2022		452		2,103		25.86				5.7		7.53
4th Quarter 2021		483		2,208		27.55				6.5		13.62
3rd Quarter 2021		501		2,420		23.25				6.7		8.48
Total - 12 months		1,901		8,303	$	26.80				6.3	$	9.88

Notes:

•Represents Regency's wholly owned and pro-rata share of co-investment partnerships.

•All amounts reported at execution.

•Number of leasing transactions and GLA leased reported at 100%; All other statistics reported at pro-rata share.

•Rent spreads are calculated on a comparable-space, cash basis for new and renewal leases executed and include all leasing transactions, including spaces vacant > 12 months.

•Rent Spreads % (Cash) represent the percentage change between the initial 12 months of rent of the executed lease and the rent over the last 12 months of the prior lease.

•Rent Spreads % (Straight-lined) represent the percentage change between the average rent over the duration of the executed lease and the average rent over the duration of the prior lease.

•Tenant Allowance & Landlord Work are costs required to make the space leasable and include improvements of a space as it relates to a specific lease. These costs include tenant improvements and inducements.

•Excludes Non-Retail Properties.

•Tenant Allowance and Landlord Work / Sq. Ft. for 3rd Quarter 2021 has been updated for inclusion of revised expectations on capital commitments for a New Leasing transaction.

Supplemental Information 19

Annual Base Rent by State

June 30, 2022

(in thousands)

State	Number of Properties		GLA		% Leased (1)			ABR		ABR/Sq. Ft.		% of Number of Properties			% of GLA			% of ABR
California		70		9,151		93.4	%	$	250,642	$	29.21		17.3	%		21.2	%		26.2	%
Florida		95		11,000		94.3	%		204,446		19.68		23.5	%		25.5	%		21.3	%
Texas		30		3,525		96.7	%		70,399		20.61		7.4	%		8.2	%		7.3	%
New York		16		1,805		93.7	%		60,009		35.47		4.0	%		4.2	%		6.3	%
Georgia		22		2,126		92.0	%		44,906		22.72		5.4	%		4.9	%		4.7	%
Virginia		21		1,668		93.2	%		45,221		28.97		5.2	%		3.9	%		4.7	%
Connecticut		15		1,526		91.5	%		35,880		25.48		3.7	%		3.5	%		3.7	%
Washington		17		1,267		97.1	%		33,715		27.46		4.2	%		2.9	%		3.5	%
North Carolina		17		1,594		93.3	%		33,280		21.78		4.2	%		3.7	%		3.5	%
Illinois		10		1,338		96.8	%		25,622		20.45		2.5	%		3.1	%		2.7	%
Massachusetts		8		897		94.8	%		24,143		28.28		2.0	%		2.1	%		2.5	%
Colorado		19		1,406		96.1	%		22,139		16.28		4.7	%		3.3	%		2.3	%
Pennsylvania		10		711		95.7	%		17,819		26.81		2.5	%		1.6	%		1.9	%
Ohio		8		1,217		98.8	%		16,179		13.41		2.0	%		2.8	%		1.7	%
Maryland		11		601		92.0	%		15,862		28.36		2.7	%		1.4	%		1.7	%
Oregon		8		779		93.2	%		15,229		20.31		2.0	%		1.8	%		1.6	%
New Jersey		5		650		76.8	%		11,516		23.08		1.2	%		1.5	%		1.2	%
Minnesota		5		390		94.3	%		7,330		18.93		1.2	%		0.9	%		0.8	%
Indiana		3		335		99.5	%		5,515		17.10		0.7	%		0.8	%		0.6	%
Tennessee		3		314		96.5	%		5,330		17.06		0.7	%		0.7	%		0.6	%
Missouri		4		408		98.3	%		4,476		11.01		1.0	%		0.9	%		0.5	%
Delaware		2		254		99.5	%		4,186		17.48		0.5	%		0.6	%		0.4	%
South Carolina		2		83		98.7	%		2,069		25.27		0.5	%		0.2	%		0.2	%
Washington, D.C.		2		30		89.0	%		1,534		58.33		0.5	%		0.1	%		0.2	%
Michigan		1		97		74.0	%		617		8.58		0.2	%		0.2	%		0.1	%
Total All Properties		404		43,173		94.2	%	$	958,062	$	23.50		100	%		100	%		100	%

Note: Represents Regency's wholly owned and pro-rata share of co-investment partnerships.

(1)Includes Properties in Development and leases that are executed but have not commenced.

Supplemental Information 20

Annual Base Rent by CBSA

June 30, 2022

(in thousands)

Largest CBSAs by Population (1)	Number of Properties		GLA		% Leased (2)			ABR		ABR/Sq. Ft.		% of Number of Properties			% of GLA			% of ABR
1) New York-Newark-Jersey City	19			2,079		94.0	%	$	68,954	$	35.28		4.7	%		4.8	%		7.2	%
2) Los Angeles-Long Beach-Anaheim	24			2,499		95.2	%		70,655		29.70		5.9	%		5.8	%		7.4	%
3) Chicago-Naperville-Elgin	11			1,617		94.3	%		30,101		19.74		2.7	%		3.7	%		3.1	%
4) Dallas-Fort Worth-Arlington	11			913		94.4	%		18,707		21.71		2.7	%		2.1	%		2.0	%
5) Houston-Woodlands-Sugar Land	14			1,778		97.1	%		34,096		19.75		3.5	%		4.1	%		3.6	%
6) Washington-Arlington-Alexandri	27			1,831		94.5	%		52,520		30.35		6.7	%		4.2	%		5.5	%
7) Philadelphia-Camden-Wilmington	10			1,167		82.5	%		20,706		21.52		2.5	%		2.7	%		2.2	%
8) Miami-Ft Lauderdale-PompanoBch	41			5,308		93.1	%		107,861		21.83		10.1	%		12.3	%		11.3	%
9) Atlanta-SandySprings-Alpharett	22			2,126		92.0	%		44,906		22.96		5.4	%		4.9	%		4.7	%
10) Phoenix-Mesa-Chandler	-		-		-				-	-		-			-			-
11) Boston-Cambridge-Newton	8			897		94.8	%		24,143		28.39		2.0	%		2.1	%		2.5	%
12) San Francisco-Oakland-Berkeley	18			3,349		90.9	%		92,055		30.25		4.5	%		7.8	%		9.6	%
13) Rvrside-San Bernardino-Ontario	1			99		98.4	%		3,059		31.47		0.2	%		0.2	%		0.3	%
14) Detroit-Warren-Dearborn	-		-		-				-	-		-			-			-
15) Seattle-Tacoma-Bellevue	17			1,267		97.1	%		33,715		27.41		4.2	%		2.9	%		3.5	%
16) Minneapol-St. Paul-Bloomington	5			390		99.5	%		7,330		18.91		1.2	%		0.9	%		0.8	%
17) San Diego-Chula Vista-Carlsbad	10			1,369		97.6	%		40,367		30.20		2.5	%		3.2	%		4.2	%
18) Tampa-St Petersburg-Clearwater	9			1,296		96.3	%		24,272		19.44		2.2	%		3.0	%		2.5	%
19) Denver-Aurora-Lakewood	11			938		95.8	%		14,530		16.16		2.7	%		2.2	%		1.5	%
20) St. Louis	4			408		99.5	%		4,476		11.01		1.0	%		0.9	%		0.5	%
21) Baltimore-Columbia-Towson	4			269		92.4	%		6,672		26.83		1.0	%		0.6	%		0.7	%
22) Charlotte-Concord-Gastonia	4			604		97.8	%		14,144		23.97		1.0	%		1.4	%		1.5	%
23) Orlando-Kissimmee-Sanford	7			836		94.0	%		15,166		19.29		1.7	%		1.9	%		1.6	%
24) San Antonio-New Braunfels	-		-		-				-	-		-			-			-
25) Portland-Vancouver-Hillsboro	5			436		94.7	%		8,539		20.66		1.2	%		1.0	%		0.9	%
26) Sacramento-Roseville-Folsom	4			318		99.0	%		7,474		23.75		1.0	%		0.7	%		0.8	%
27) Pittsburgh	-		-		-				-	-		-			-			-
28) Austin-Round Rock-Georgetown	5			834		98.5	%		17,596		21.43		1.2	%		1.9	%		1.8	%
29) Las Vegas-Henderson-Paradise	-		-		-				-	-		-			-			-
30) Cincinnati	5			895		98.4	%		12,273		13.94		1.2	%		2.1	%		1.3	%
31) Kansas City	-		-		-				-	-		-			-			-
32) Columbus	3			322		100.0	%		3,905		12.12		0.7	%		0.7	%		0.4	%
33) Indianapolis-Carmel-Anderson	2			56		82.9	%		1,036		22.48		0.5	%		0.1	%		0.1	%
34) San Juan-Bayamón-Caguas	-		-		-				-	-		-			-			-
35) Cleveland-Elyria	-		-		-				-	-		-			-			-
36) Nashvil-Davdsn-Murfree-Frankln	3			314		98.3	%		5,330		17.25		0.7	%		0.7	%		0.6	%
37) San Jose-Sunnyvale-Santa Clara	6			645		95.1	%		18,775		30.61		1.5	%		1.5	%		2.0	%
38) Virginia Beach-Norfolk-Newport News	-		-		-				-	-		-			-			-
39) Providence-Warwick	-		-		-				-	-		-			-			-
40) Jacksonville	20			1,921		94.5	%		30,437		16.78		5.0	%		4.4	%		3.2	%
41) Milwaukee-Waukesha	-		-		-				-	-		-			-			-
42) Raleigh-Cary	9			692		95.3	%		14,100		21.38		2.2	%		1.6	%		1.5	%
43) Oklahoma City	-		-		-				-	-		-			-			-
44) Memphis	-		-		-				-	-		-			-			-
45) Richmond	3			199		81.3	%		3,425		21.19		0.7	%		0.5	%		0.4	%
46) Louisville/Jefferson County	-		-		-				-	-		-			-			-
47) New Orleans-Metairie	-		-		-				-	-		-			-			-
48) Salt Lake City	-		-		-				-	-		-			-			-
49) Hartford-E Hartford-Middletown	2			301		96.3	%		5,683		19.59		0.5	%		0.7	%		0.6	%
50) Buffalo-Cheektowaga	-		-		-				-	-		-			-			-
Top 50 CBSAs by Population		344		37,974		94.3	%	$	857,009	$	23.88		85.1	%		88.0	%		89.5	%
CBSAs Ranked 51 - 75 by Population	22			1,939		92.3	%		49,832		27.47		5.4	%		4.5	%		5.2	%
CBSAs Ranked 76 - 100 by Population	12			885		93.1	%		14,256		17.30		3.0	%		2.1	%		1.5	%
Other CBSAs	26			2,375		94.2	%		36,965		16.50		6.4	%		5.5	%		3.9	%
Total All Properties		404		43,173		94.2	%	$	958,062	$	23.50		100	%		100	%		100	%

Note: Represents Regency's wholly owned and pro-rata share of co-investments partnerships.

(1)2021 Population Data Source: Synergos Technologies, Inc.

(2)Includes Properties in Development and leases that are executed but have not commenced.

Supplemental Information 21

Annual Base Rent By Tenant Category

June 30, 2022

Tenant Category Exposure	% of ABR(1)
Grocery	20%
Restaurant - Fast Food/Limited Service	13%
Personal Services	7%
Restaurant - Casual/Fine Dining	6%
Medical	6%
Apparel/Accessories	5%
Off-Price	5%
Business Services	5%
Banks	5%
Hobby/Sports	5%
Fitness	4%
Home	3%
Office/Communications	3%
Pet	3%
Pharmacy	3%
Other	2%
Home Improvement/Auto	2%
Beauty/Cosmetics	2%
Liquor/Wine/Beer	1%
Entertainment	1%
Anchor/Shop Exposure(2)	% of ABR
Shop	56%
Anchor	44%

(1)Represents Regency's wholly owned and pro-rata share of co-investment partnerships; includes properties in development, includes leases that are executed but have not rent commenced.

(2)Shop tenants defined as <10K SF, Anchor tenants defined as >10K SF.

Supplemental Information 22

Significant Tenant Rents

(Includes Tenants ≥ 0.5% of ABR)

June 30, 2022

(in thousands)

#		Tenant	Tenant GLA		% of Company- Owned GLA	Total Annualized Base Rent		% of Total Annualized Base Rent	Total # of Leased Stores - 100% Owned and JV		# of Leased Stores in JV
	1	Publix		2,876	7.1%		31,707	3.3%		67	8
	2	Kroger Co. (1)		2,979	7.3%		30,279	3.2%		53	10
	3	Albertsons Companies, Inc. (2)		1,920	4.7%		28,977	3.0%		46	15
	4	Amazon/Whole Foods		1,173	2.9%		26,313	2.7%		36	12
	5	TJX Companies, Inc. (3)		1,457	3.6%		24,963	2.6%		63	17
	6	CVS		661	1.6%		15,211	1.6%		56	17
	7	Ahold/Delhaize (4)		473	1.2%		11,682	1.2%		13	7
	8	L.A. Fitness Sports Club		474	1.2%		9,457	1.0%		13	3
	9	Trader Joe's		282	0.7%		9,432	1.0%		28	7
	10	JPMorgan Chase Bank		136	0.3%		8,853	0.9%		43	8
	11	Ross Dress For Less		534	1.3%		8,578	0.9%		24	8
	12	Gap, Inc (5)		250	0.6%		7,697	0.8%		21	3
	13	Starbucks		136	0.3%		7,625	0.8%		88	23
	14	Nordstrom (6)		279	0.7%		7,616	0.8%		8	-
	15	H.E. Butt Grocery Company (7)		482	1.2%		7,376	0.8%		6	1
	16	Bank of America		125	0.3%		6,983	0.7%		42	14
	17	Wells Fargo Bank		134	0.3%		6,980	0.7%		47	16
	18	Petco Health & Wellness Company, Inc. (8)		286	0.7%		6,952	0.7%		30	7
	19	JAB Holding Company (9)		168	0.4%		6,834	0.7%		60	14
	20	Target		654	1.6%		6,790	0.7%		6	3
	21	Best Buy		259	0.6%		6,027	0.6%		8	1
	22	Kohl's		485	1.2%		5,756	0.6%		6	1
	23	Walgreens Boots Alliance (10)		234	0.6%		5,731	0.6%		22	8
	24	Bed Bath & Beyond Inc. (11)		325	0.8%		5,538	0.6%		11	-
	25	Ulta		172	0.4%		5,104	0.5%		19	3
	26	Dick's Sporting Goods, Inc.		274	0.7%		4,832	0.5%		4	-
	27	AT&T, Inc (12)		107	0.3%		4,810	0.5%		54	10
	28	Life Time		111	0.3%		4,700	0.5%		1	-
	29	Xponential Fitness (13)		114	0.3%		4,389	0.5%		68	18
		Top Tenants		17,560	43.2%	$	317,192	33.1%		943		257

(1)Kroger 20 / King Soopers 11 / Harris Teeter 8 / Ralphs 9 / Mariano's Fresh Market 3 / Quality Food Centers 2

(2)Safeway 22 / VONS 7 / Albertson's 4 / Acme Markets 3 / Shaw's 3 / Tom Thumb 3 / Randalls Food & Drug 2 / Star Market 2

(3)TJ Maxx 24 / Marshalls 19 / Homegoods 18 / Homesense 1 / Sierra Trading Post 1

(4)Giant 9 / Stop & Shop 3 / Food Lion 1

(5)Old Navy 12 / Athleta 2 / The Gap 2 / Banana Republic 2 / GAP BR Factory 1

(6)Nordstrom Rack 8

(7)H.E.B. 5 / Central Market 1

(8)Petco 25 / Unleashed by Petco 5

(9)Panera 29 / Peet's' Coffee & Tea 11 / Einstein Bros Bagels 10 / Bruegger’s Bagel 4 / Krispy Kreme 3 / Noah’s NY Bagels 3

(10)Walgreens 21 / Duane Reade 1

(11)Bed Bath & Beyond 9 / Buy Buy Baby 1 / Harmon Face Values 1

(12)AT&T 49 / Cricket 5

(13)Club Pilates 27 / Pure Barre 15 / Row House 8 / Cyclebar 7 / Yoga Six 6 / Stretchlab 4 / AKT 1

Note: Represents Regency's wholly owned and pro-rata share of co-investment partnerships, includes properties in development, excludes leases that are executed but have not rent commenced. Amounts may not foot due to rounding.

Supplemental Information 23

Tenant Lease Expirations

June 30, 2022

(GLA in thousands)

			Anchor Tenants (1)
Year	GLA		Percent of GLA	Percent of Total ABR (3)	ABR
MTM (4)		105	0.3%	0.1%	$	12.99
2022		489	1.2%	0.5%		10.35
2023		2,450	6.1%	4.0%		15.25
2024		3,496	8.7%	5.8%		15.59
2025		2,980	7.4%	4.9%		15.56
2026		3,181	7.9%	5.4%		15.94
2027		3,153	7.9%	5.5%		16.43
2028		1,803	4.5%	3.7%		19.07
2029		1,318	3.3%	1.9%		13.25
2030		1,266	3.2%	2.3%		17.19
2031		871	2.2%	1.8%		19.06
10 Year Total		21,112	52.7%	36.0%	$	15.98
Thereafter		4,516	11.3%	8.2%		17.11
		25,628	63.9%	44.2%	$	16.18

			Shop Tenants (2)
Year	GLA		Percent of GLA	Percent of Total ABR (3)	ABR
MTM (4)		252	0.6%	0.8%	$	29.78
2022		696	1.7%	2.4%		32.61
2023		2,086	5.2%	7.7%		34.53
2024		2,048	5.1%	7.6%		34.96
2025		2,023	5.0%	7.8%		36.05
2026		1,932	4.8%	7.5%		36.55
2027		1,830	4.6%	7.1%		36.32
2028		839	2.1%	3.6%		40.17
2029		651	1.6%	2.7%		38.51
2030		564	1.4%	2.4%		39.23
2031		657	1.6%	2.7%		37.98
10 Year Total		13,577	33.9%	52.3%	$	36.06
Thereafter		877	2.2%	3.6%		38.18
		14,455	36.1%	55.9%	$	36.19

			All Tenants
Year	GLA		Percent of GLA	Percent of Total ABR (3)	ABR
MTM (4)		357	0.9%	0.9%	$	24.85
2022		1,185	3.0%	3.0%		23.42
2023		4,536	11.3%	11.7%		24.11
2024		5,543	13.8%	13.4%		22.74
2025		5,003	12.5%	12.7%		23.85
2026		5,113	12.8%	12.9%		23.73
2027		4,982	12.4%	12.6%		23.73
2028		2,642	6.6%	7.3%		25.78
2029		1,969	4.9%	4.5%		21.60
2030		1,829	4.6%	4.7%		23.98
2031		1,528	3.8%	4.4%		27.19
10 Year Total		34,689	86.5%	88.2%	$	23.84
Thereafter		5,394	13.5%	11.8%		20.54
		40,083	100%	100%	$	23.40

Notes: Reflects commenced leases only. Does not account for contractual rent steps and assumes that no tenants exercise renewal options. Amounts may not foot due to rounding.

(1)Anchor tenants represent any tenant occupying at least 10,000 square feet.

(2)Shop tenants represent any tenant occupying less than 10,000 square feet.

(3)Total Annual Base Rent ("ABR") excludes additional rent such as percentage rent, common area maintenance, real estate taxes, and insurance reimbursements. Represents Regency's wholly owned and pro-rata share of co-investment partnerships.

(4)Month to month lease or in process of renewal.

Supplemental Information 24

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%	REG's pro-rata share	REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA	GLA	% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
	200 Potrero			CA	San Francisco-Oakland-Berkeley	31	31	100.0%						Gizmo Art Production, INC.	$	11.23
	4S Commons Town Center	M	85%	CA	San Diego-Chula Vista-Carlsbad	252	252	97.9%					68	Ace Hardware, Bed Bath & Beyond, Cost Plus World Market, CVS, Jimbo's…Naturally!, Ralphs, ULTA	$	33.86
	Amerige Heights Town Center			CA	Los Angeles-Long Beach-Anaheim	97	97	100.0%			143		58	Albertsons, (Target)	$	31.89
	Balboa Mesa Shopping Center			CA	San Diego-Chula Vista-Carlsbad	207	207	100.0%					42	CVS, Kohl's, Von's	$	28.87
	Bayhill Shopping Center	GRI	40%	CA	San Francisco-Oakland-Berkeley	122	49	100.0%					32	CVS, Mollie Stone's Market	$	27.70
	Blossom Valley			CA	San Jose-Sunnyvale-Santa Clara	93	93	93.7%					34	Safeway	$	27.41
	Brea Marketplace	GRI	40%	CA	Los Angeles-Long Beach-Anaheim	352	141	94.3%					25	24 Hour Fitness, Big 5 Sporting Goods, Childtime Childcare, Old Navy, Sprout's, Target	$	20.73
	Circle Center West			CA	Los Angeles-Long Beach-Anaheim	64	64	87.6%						Marshalls	$	35.28
	Circle Marina Center			CA	Los Angeles-Long Beach-Anaheim	118	118	93.6%						Staples, Big 5 Sporting Goods, Centinela Feed & Pet Supplies	$	31.79
	Clayton Valley Shopping Center			CA	San Francisco-Oakland-Berkeley	260	260	90.3%					14	Grocery Outlet, Central, CVS, Dollar Tree, Ross Dress For Less	$	23.24
	Corral Hollow			CA	Stockton	167	167	70.4%					66	Safeway, CVS	$	19.96
	Culver Center			CA	Los Angeles-Long Beach-Anaheim	217	217	92.4%					37	Ralphs, Best Buy, LA Fitness, Sit N' Sleep	$	32.19
	Diablo Plaza			CA	San Francisco-Oakland-Berkeley	63	63	87.9%			53		53	Bevmo!, (Safeway), (CVS)	$	42.36
	El Camino Shopping Center			CA	Los Angeles-Long Beach-Anaheim	136	136	97.4%					31	Bristol Farms, CVS	$	40.98
	El Cerrito Plaza			CA	San Francisco-Oakland-Berkeley	256	256	80.2%					78	Barnes & Noble, Jo-Ann Fabrics, PETCO, Ross Dress For Less, Trader Joe's, (CVS)	$	30.56
	El Norte Pkwy Plaza			CA	San Diego-Chula Vista-Carlsbad	91	91	98.0%					42	Von's, Children's Paradise, ACE Hardware	$	19.98
	Encina Grande			CA	San Francisco-Oakland-Berkeley	106	106	100.0%					38	Whole Foods, Walgreens	$	35.59
	Five Points Shopping Center	GRI	40%	CA	Santa Maria-Santa Barbara	145	58	97.6%					35	Smart & Final, CVS, Ross Dress for Less, Big 5 Sporting Goods, PETCO	$	31.00
	French Valley Village Center			CA	Rvrside-San Bernardino-Ontario	99	99	98.4%					44	Stater Bros, CVS	$	27.37
	Friars Mission Center			CA	San Diego-Chula Vista-Carlsbad	147	147	100.0%					55	Ralphs, CVS	$	38.12
	Gelson's Westlake Market Plaza			CA	Oxnard-Thousand Oaks-Ventura	85	85	98.8%					40	Gelson's Markets, John of Italy Salon & Spa	$	30.37
	Golden Hills Plaza			CA	San Luis Obispo-Paso Robles	244	244	84.8%						Lowe's, TJ Maxx	$	6.77
	Granada Village	GRI	40%	CA	Los Angeles-Long Beach-Anaheim	226	91	100.0%					24	Sprout's Markets, Rite Aid, PETCO, Homegoods, Burlington, TJ Maxx	$	26.97
	Hasley Canyon Village			CA	Los Angeles-Long Beach-Anaheim	66	66	95.1%					52	Ralphs	$	26.73
	Heritage Plaza			CA	Los Angeles-Long Beach-Anaheim	230	230	99.7%					44	Ralphs, CVS, Daiso, Mitsuwa Marketplace, Big 5 Sporting Goods	$	41.49
	Laguna Niguel Plaza	GRI	40%	CA	Los Angeles-Long Beach-Anaheim	42	17	92.2%			39		39	CVS,(Albertsons)	$	30.22
	Mariposa Shopping Center	GRI	40%	CA	San Jose-Sunnyvale-Santa Clara	127	51	91.6%					43	Safeway, CVS, Ross Dress for Less	$	21.15
	Morningside Plaza			CA	Los Angeles-Long Beach-Anaheim	91	91	98.2%					43	Stater Bros.	$	24.51

Supplemental Information 25

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%	REG's pro-rata share	REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA	GLA	% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
	Navajo Shopping Center	GRI	40%	CA	San Diego-Chula Vista-Carlsbad	102	41	98.9%					44	Albertsons, Rite Aid, O'Reilly Auto Parts	$	15.32
	Newland Center			CA	Los Angeles-Long Beach-Anaheim	152	152	98.9%					58	Albertsons	$	27.98
	Oakshade Town Center			CA	Sacramento-Roseville-Folsom	104	104	99.3%					40	Safeway, Office Max, Rite Aid	$	22.66
	Oakbrook Plaza			CA	Oxnard-Thousand Oaks-Ventura	83	83	90.0%					44	Gelson's Markets, (CVS), (Ace Hardware)	$	21.25
	Persimmon Place			CA	San Francisco-Oakland-Berkeley	153	153	100.0%					40	Whole Foods, Nordstrom Rack, Homegoods	$	37.06
	Plaza Escuela			CA	San Francisco-Oakland-Berkeley	154	154	93.5%						The Container Store, Trufusion, Talbots, The Cheesecake Factory, Barnes & Noble	$	43.74
	Plaza Hermosa			CA	Los Angeles-Long Beach-Anaheim	95	95	98.2%					37	Von's, CVS	$	27.79
	Pleasant Hill Shopping Center	GRI	40%	CA	San Francisco-Oakland-Berkeley	227	91	100.0%						Target, Burlington, Ross Dress for Less, Homegoods	$	24.52
	Point Loma Plaza	GRI	40%	CA	San Diego-Chula Vista-Carlsbad	205	82	98.1%					50	Von's, Jo-Ann Fabrics, Marshalls, UFC Gym	$	23.32
	Potrero Center			CA	San Francisco-Oakland-Berkeley	227	227	91.3%					60	Safeway, Decathlon Sport, 24 Hour Fitness, Ross Dress for Less, Petco	$	33.63
	Powell Street Plaza			CA	San Francisco-Oakland-Berkeley	166	166	98.4%					10	Trader Joe's, Bevmo!, Ross Dress For Less, Marshalls, Old Navy	$	35.45
	Prairie City Crossing			CA	Sacramento-Roseville-Folsom	90	90	97.5%					55	Safeway	$	22.23
	Raley's Supermarket	C	20%	CA	Sacramento-Roseville-Folsom	63	13	100.0%					63	Raley's	$	14.00
	Ralphs Circle Center			CA	Los Angeles-Long Beach-Anaheim	60	60	100.0%					35	Ralphs	$	19.59
	Rancho San Diego Village	GRI	40%	CA	San Diego-Chula Vista-Carlsbad	153	61	94.6%					40	Smart & Final, 24 Hour Fitness, (Longs Drug)	$	24.41
	Rona Plaza			CA	Los Angeles-Long Beach-Anaheim	52	52	97.7%					37	Superior Super Warehouse	$	22.03
	San Carlos Marketplace			CA	San Francisco-Oakland-Berkeley	154	154	100.0%						TJ Maxx, Best Buy, PetSmart, Bassett Furniture	$	36.28
	Scripps Ranch Marketplace			CA	San Diego-Chula Vista-Carlsbad	132	132	99.5%					57	Vons, CVS	$	32.82
	San Leandro Plaza			CA	San Francisco-Oakland-Berkeley	50	50	100.0%			38		38	(Safeway), (CVS)	$	37.49
	Seal Beach	C	20%	CA	Los Angeles-Long Beach-Anaheim	97	19	93.9%					48	Pavilions, CVS	$	26.88
	Serramonte Center			CA	San Francisco-Oakland-Berkeley	1072	1072	89.1%						Buy Buy Baby, Cost Plus World Market, Crunch Fitness, DAISO, Dave & Buster's, Dick's Sporting Goods, Divano Homes, H&M, Macy's, Nordstrom Rack, Old Navy, Party City, Ross Dress for Less, Target, TJ Maxx, Uniqlo	$	26.37
	Shoppes at Homestead			CA	San Jose-Sunnyvale-Santa Clara	116	116	94.7%			53			CVS, Crunch Fitness, (Orchard Supply Hardware)	$	24.67
	Silverado Plaza	GRI	40%	CA	Napa	85	34	99.8%					32	Nob Hill, CVS	$	22.51
	Snell & Branham Plaza	GRI	40%	CA	San Jose-Sunnyvale-Santa Clara	92	37	98.5%					53	Safeway	$	20.94
	Talega Village Center			CA	Los Angeles-Long Beach-Anaheim	102	102	97.7%					46	Ralphs	$	22.93
	Tassajara Crossing			CA	San Francisco-Oakland-Berkeley	146	146	100.0%					56	Safeway, CVS, Alamo Hardware	$	26.08
	The Hub Hillcrest Market			CA	San Diego-Chula Vista-Carlsbad	149	149	89.7%					52	Ralphs, Trader Joe's	$	42.08
	The Marketplace			CA	Sacramento-Roseville-Folsom	111	111	100.0%					35	Safeway, CVS, Petco	$	27.12

Supplemental Information 26

Supplemental Information 27

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%		REG's pro-rata share		REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA		GLA		% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
	The Pruneyard			CA	San Jose-Sunnyvale-Santa Clara	260		260		95.6%					13	Trader Joe's, The Sports Basement, Camera Cinemas, Marshalls	$	40.79
	Town and Country Center	O	35%	CA	Los Angeles-Long Beach-Anaheim	230		81		36.1%					41	Whole Foods, CVS, Citibank	$	52.09
	Tustin Legacy			CA	Los Angeles-Long Beach-Anaheim	112		112		100.0%					44	Stater Bros, CVS	$	33.53
	Twin Oaks Shopping Center	GRI	40%	CA	Los Angeles-Long Beach-Anaheim	98		39		98.2%					41	Ralphs, Rite Aid	$	21.89
	Twin Peaks			CA	San Diego-Chula Vista-Carlsbad	208		208		98.0%					45	Target, Grocer	$	22.00
	Valencia Crossroads			CA	Los Angeles-Long Beach-Anaheim	173		173		99.3%					35	Whole Foods, Kohl's	$	28.37
	Village at La Floresta			CA	Los Angeles-Long Beach-Anaheim	87		87		94.3%					37	Whole Foods	$	36.21
	Von's Circle Center			CA	Los Angeles-Long Beach-Anaheim	151		151		100.0%					45	Von's, Ross Dress for Less, Planet Fitness	$	23.15
	West Park Plaza			CA	San Jose-Sunnyvale-Santa Clara	88		88		96.0%					25	Safeway, Rite Aid	$	19.99
	Westlake Village Plaza and Center			CA	Oxnard-Thousand Oaks-Ventura	201		201		94.8%					72	Von's, Sprouts, (CVS)	$	41.17
	Willows Shopping Center			CA	San Francisco-Oakland-Berkeley	247		247		74.6%						REI, UFC Gym, Old Navy, Ulta, Five Below	$	30.14
	Woodman Van Nuys			CA	Los Angeles-Long Beach-Anaheim	108		108		97.2%					78	El Super	$	16.54
	Woodside Central			CA	San Francisco-Oakland-Berkeley	81		81		90.0%			113			Chuck E. Cheese, Marshalls, (Target)	$	25.46
	Ygnacio Plaza	GRI	40%	CA	San Francisco-Oakland-Berkeley	110		44		94.4%						Sports Basement,TJ Maxx	$	38.29
				CA			10,681		9,151	93.4%	93.4%		439		2,542		$	29.21
	Applewood Shopping Ctr	GRI	40%	CO	Denver-Aurora-Lakewood	355		142		91.6%					71	Applejack Liquors, Hobby Lobby, Homegoods, King Soopers, PetSmart, Sierra Trading Post, Ulta	$	16.20
	Alcove On Arapahoe	GRI	40%	CO	Boulder	159		64		88.8%					44	PETCO, HomeGoods, Jo-Ann Fabrics, Safeway	$	19.23
	Belleview Square			CO	Denver-Aurora-Lakewood	117		117		100.0%					65	King Soopers	$	21.14
	Boulevard Center			CO	Denver-Aurora-Lakewood	77		77		89.2%			53		53	Eye Care Specialists, (Safeway)	$	31.10
	Buckley Square			CO	Denver-Aurora-Lakewood	116		116		92.6%					62	Ace Hardware, King Soopers	$	11.52
	Centerplace of Greeley III			CO	Greeley	119		119		100.0%						Hobby Lobby, Best Buy, TJ Maxx	$	11.88
	Cherrywood Square Shop Ctr	GRI	40%	CO	Denver-Aurora-Lakewood	97		39		97.0%					72	King Soopers	$	11.58
	Crossroads Commons	C	20%	CO	Boulder	143		29		91.2%					66	Whole Foods, Barnes & Noble	$	29.64
	Crossroads Commons II	C	20%	CO	Boulder	18		4		100.0%						(Whole Foods), (Barnes & Noble)	$	39.62
	Falcon Marketplace			CO	Colorado Springs	22		22		100.0%			184		50	(Wal-Mart)	$	24.85
	Hilltop Village			CO	Denver-Aurora-Lakewood	101		101		96.2%					66	King Soopers	$	12.03
	Littleton Square			CO	Denver-Aurora-Lakewood	99		99		100.0%					78	King Soopers	$	11.83
	Lloyd King Center			CO	Denver-Aurora-Lakewood	83		83		98.3%					61	King Soopers	$	12.29
	Marketplace at Briargate			CO	Colorado Springs	29		29		100.0%			66		66	(King Soopers)	$	33.74
	Monument Jackson Creek			CO	Colorado Springs	85		85		100.0%					70	King Soopers	$	12.73
	Ralston Square Shopping Center	GRI	40%	CO	Denver-Aurora-Lakewood	83		33		96.2%					55	King Soopers	$	15.77

Supplemental Information 28

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%		REG's pro-rata share		REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA		GLA		% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
	Shops at Quail Creek			CO	Denver-Aurora-Lakewood	38		38		92.5%			100		100	(King Soopers)	$	24.90
	Stroh Ranch			CO	Denver-Aurora-Lakewood	93		93		100.0%					70	King Soopers	$	13.87
	Woodmen Plaza			CO	Colorado Springs	116		116		95.2%					70	King Soopers	$	13.53
				CO			1,950		1,406	96.1%	96.1%		403		1,119		$	16.28
	22 Crescent Road			CT	Bridgeport-Stamford-Norwalk	4		4		100.0%						-	$	60.00
	91 Danbury Road			CT	Bridgeport-Stamford-Norwalk	5		5		100.0%						-	$	29.47
	Black Rock	M	80%	CT	Bridgeport-Stamford-Norwalk	98		98		91.2%						Old Navy, The Clubhouse	$	29.32
	Brick Walk	M	80%	CT	Bridgeport-Stamford-Norwalk	122		122		98.0%						-	$	44.33
	Brookside Plaza			CT	Hartford-E Hartford-Middletown	227		227		95.8%					60	Bed, Bath & Beyond, Burlington Coat Factory, PetSmart, ShopRite, Staples, TJ Maxx	$	15.41
	Compo Acres Shopping Center			CT	Bridgeport-Stamford-Norwalk	43		43		92.4%					12	Trader Joe's	$	52.93
	Copps Hill Plaza			CT	Bridgeport-Stamford-Norwalk	173		173		62.4%					59	Rite Aid, Stop & Shop, Homegoods	$	25.94
	Corbin's Corner	GRI	40%	CT	Hartford-E Hartford-Middletown	186		74		98.1%					10	Best Buy, Edge Fitness, Old Navy, The Tile Shop, Total Wine and More, Trader Joe's	$	31.43
	Danbury Green			CT	Bridgeport-Stamford-Norwalk	124		124		100.0%					12	Trader Joe's, Hilton Garden Inn, DSW, Staples, Rite Aid, Warehouse Wines & Liquors	$	26.41
	Darinor Plaza			CT	Bridgeport-Stamford-Norwalk	153		153		100.0%						Kohl's, Old Navy, Party City	$	19.95
	Fairfield Center	M	80%	CT	Bridgeport-Stamford-Norwalk	94		94		91.2%						Fairfield University Bookstore, Merril Lynch	$	33.40
	Post Road Plaza			CT	Bridgeport-Stamford-Norwalk	20		20		100.0%					11	Trader Joe's	$	55.98
	Southbury Green			CT	New Haven-Milford	156		156		84.8%					60	ShopRite, Homegoods	$	21.72
	Westport Row			CT	Bridgeport-Stamford-Norwalk	91		91		92.0%					22	The Fresh Market, Pottery Barn	$	41.22
	Walmart Norwalk			CT	Bridgeport-Stamford-Norwalk	142		142		100.0%					112	WalMart, HomeGoods	$	0.56
				CT			1,638		1,526	91.5%	91.5%		0		358		$	25.48
	Shops at The Columbia			DC	Washington-Arlington-Alexandri	23		23		85.8%					12	Trader Joe's	$	42.26
	Spring Valley Shopping Center	GRI	40%	DC	Washington-Arlington-Alexandri	17		7		100.0%						-	$	105.05
				DC			40		30	89.0%	89.0%		0		12		$	58.33
	Pike Creek			DE	Philadelphia-Camden-Wilmington	228		228		94.5%					49	Acme Markets, Edge Fitness, Pike Creek Community Hardware	$	16.63
	Shoppes of Graylyn	GRI	40%	DE	Philadelphia-Camden-Wilmington	64		26		92.2%						Rite Aid	$	25.26
				DE			293		254	94.3%	94.3%		0		49		$	17.48
	Alafaya Village			FL	Orlando-Kissimmee-Sanford	38		38		93.9%					58	-	$	24.36
	Anastasia Plaza			FL	Jacksonville	102		102		95.9%					49	Publix	$	14.79
	Atlantic Village			FL	Jacksonville	110		110		98.6%						LA Fitness, Pet Supplies Plus	$	18.00
	Aventura Shopping Center			FL	Miami-Ft Lauderdale-PompanoBch	97		97		97.5%					49	CVS, Publix	$	37.69
	Aventura Square			FL	Miami-Ft Lauderdale-PompanoBch	144		144		78.8%						Bed Bath & Beyond, DSW Warehouse, Jewelry Exchange, Old Navy	$	39.74
(2)	Banco Popular Building			FL	Miami-Ft Lauderdale-PompanoBch	0		0		0.0%						-	$	0.00

Supplemental Information 29

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%	REG's pro-rata share	REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA	GLA	% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
	Berkshire Commons			FL	Naples-Marco Island	110	110	98.9%					66	Publix, Walgreens	$	15.44
	Bird 107 Plaza			FL	Miami-Ft Lauderdale-PompanoBch	40	40	92.9%						Walgreens	$	21.95
	Bird Ludlam			FL	Miami-Ft Lauderdale-PompanoBch	192	192	98.4%					44	CVS, Goodwill, Winn-Dixie	$	25.04
	Bloomingdale Square			FL	Tampa-St Petersburg-Clearwater	252	252	98.9%					48	Bealls, Dollar Tree, Home Centric, LA Fitness, Publix	$	17.89
	Boca Village Square			FL	Miami-Ft Lauderdale-PompanoBch	92	92	100.0%					36	CVS, Publix	$	24.18
	Boynton Lakes Plaza			FL	Miami-Ft Lauderdale-PompanoBch	110	110	93.8%					46	Citi Trends, Pet Supermarket, Publix	$	16.56
	Boynton Plaza			FL	Miami-Ft Lauderdale-PompanoBch	105	105	95.7%					54	CVS, Publix	$	20.98
	Brooklyn Station on Riverside			FL	Jacksonville	50	50	97.2%					20	The Fresh Market	$	27.55
	Caligo Crossing			FL	Miami-Ft Lauderdale-PompanoBch	11	11	100.0%			98			(Kohl's)	$	46.12
	Carriage Gate			FL	Tallahassee	73	73	100.0%					13	Trader Joe's, TJ Maxx	$	24.77
	Cashmere Corners			FL	Port St. Lucie	80	80	96.1%					44	WalMart	$	14.76
	Charlotte Square			FL	Punta Gorda	91	91	95.7%					44	WalMart, Buffet City	$	11.76
	Chasewood Plaza			FL	Miami-Ft Lauderdale-PompanoBch	152	152	94.9%					54	Publix, Pet Smart	$	27.60
	Concord Shopping Plaza			FL	Miami-Ft Lauderdale-PompanoBch	309	309	97.5%					78	Big Lots, Dollar Tree, Home Depot, Winn-Dixie, YouFit Health Club	$	13.66
	Coral Reef Shopping Center			FL	Miami-Ft Lauderdale-PompanoBch	75	75	84.6%					25	Aldi, Walgreens	$	31.64
	Corkscrew Village			FL	Cape Coral-Fort Myers	82	82	98.7%					51	Publix	$	15.02
	Country Walk Plaza			FL	Miami-Ft Lauderdale-PompanoBch	101	101	90.8%					40	Publix, CVS	$	21.53
	Countryside Shops			FL	Miami-Ft Lauderdale-PompanoBch	193	193	70.6%					46	Publix, Ross Dress for Less	$	24.81
	Courtyard Shopping Center			FL	Jacksonville	137	137	100.0%			63		63	Target, (Publix)	$	3.68
(2)	East San Marco			FL	Jacksonville	59	59	93.9%					39	Publix	$	28.58
	Fleming Island			FL	Jacksonville	132	132	97.4%			130		48	Publix, PETCO, Planet Fitness, (Target)	$	16.89
	Fountain Square			FL	Miami-Ft Lauderdale-PompanoBch	177	177	96.6%			140		46	Publix, Ross Dress for Less, TJ Maxx, Ulta, (Target)	$	28.75
	Gardens Square			FL	Miami-Ft Lauderdale-PompanoBch	90	90	100.0%					42	Publix	$	19.00
	Glengary Shoppes			FL	North Port-Sarasota-Bradenton	93	93	97.0%						Best Buy, Barnes & Noble	$	20.11
	Shoppes of Grande Oak			FL	Cape Coral-Fort Myers	79	79	100.0%					54	Publix	$	17.19
	Greenwood Shopping Centre			FL	Miami-Ft Lauderdale-PompanoBch	133	133	94.0%					50	Publix, Bealls	$	16.40
	Hammocks Town Center			FL	Miami-Ft Lauderdale-PompanoBch	187	187	96.7%			86		40	CVS, Goodwill, Publix, Metro-Dade Public Library, YouFit Health Club, (Kendall Ice Arena)	$	18.00
	Hibernia Pavilion			FL	Jacksonville	51	51	92.0%					39	Publix	$	16.45
	John's Creek Center	C	20%	FL	Jacksonville	76	15	100.0%					45	Publix	$	16.50
	Julington Village	C	20%	FL	Jacksonville	82	16	100.0%					51	Publix, (CVS)	$	17.12

Supplemental Information 30

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%	REG's pro-rata share	REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA	GLA	% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
	Kirkman Shoppes			FL	Orlando-Kissimmee-Sanford	115	115	100.0%						LA Fitness, Walgreens	$	25.86
	Lake Mary Centre			FL	Orlando-Kissimmee-Sanford	360	360	92.9%					25	The Fresh Market, Academy Sports, Hobby Lobby, LA Fitness, Ross Dress for Less, Office Depot	$	17.48
	Mandarin Landing			FL	Jacksonville	140	140	74.0%					50	Whole Foods, Aveda Institute	$	20.27
	Millhopper Shopping Center			FL	Gainesville	85	85	95.0%					46	Publix	$	18.69
	Naples Walk			FL	Naples-Marco Island	125	125	100.0%					51	Publix	$	18.74
	Newberry Square			FL	Gainesville	181	181	90.9%					40	Publix, Floor & Décor, Dollar Tree	$	9.54
	Nocatee Town Center			FL	Jacksonville	114	114	100.0%					54	Publix	$	22.55
	Northgate Square			FL	Tampa-St Petersburg-Clearwater	75	75	98.1%					48	Publix	$	15.71
	Oakleaf Commons			FL	Jacksonville	74	74	98.1%					46	Publix	$	15.94
	Ocala Corners			FL	Tallahassee	87	87	90.4%					61	Publix	$	15.01
	Old St Augustine Plaza			FL	Jacksonville	248	248	100.0%					52	Publix, Burlington Coat Factory, Hobby Lobby, LA Fitness, Ross Dress for Less	$	11.05
	Pablo Plaza			FL	Jacksonville	161	161	100.0%					34	Whole Foods, Office Depot, Marshalls, HomeGoods, PetSmart	$	18.32
	Pavillion			FL	Naples-Marco Island	168	168	100.0%						LA Fitness, Paragon Theaters, J. Lee Salon Suites	$	23.07
	Pine Island			FL	Miami-Ft Lauderdale-PompanoBch	255	255	99.2%					40	Publix, Burlington Coat Factory, Beall's Outlet, YouFit Health Club	$	14.85
	Pine Ridge Square			FL	Miami-Ft Lauderdale-PompanoBch	118	118	98.7%					17	The Fresh Market, Bed Bath & Beyond, Marshalls, Ulta	$	19.17
	Pine Tree Plaza			FL	Jacksonville	63	63	96.9%					38	Publix	$	14.41
	Pinecrest Place			FL	Miami-Ft Lauderdale-PompanoBch	70	70	96.0%			173		47	Whole Foods, (Target)	$	40.33
	Plaza Venezia	C	20%	FL	Orlando-Kissimmee-Sanford	203	41	98.9%					51	Publix, Eddie V's	$	31.81
	Point Royale Shopping Center			FL	Miami-Ft Lauderdale-PompanoBch	202	202	100.0%					45	Winn-Dixie, Burlington Coat Factory, Pasteur Medical Center, Planet Fitness	$	16.67
	Prosperity Centre			FL	Miami-Ft Lauderdale-PompanoBch	124	124	96.3%						Bed Bath & Beyond, Office Depot, TJ Maxx, CVS	$	23.38
	Regency Square			FL	Tampa-St Petersburg-Clearwater	352	352	93.2%			66			AMC Theater, Dollar Tree, Five Below, Marshalls, Michael's, PETCO, Shoe Carnival, Staples, TJ Maxx, Ulta, Old Navy, (Best Buy), (Macdill)	$	19.52
	Ryanwood Square			FL	Sebastian-Vero Beach	115	115	89.2%					40	Publix, Beall's, Harbor Freight Tools	$	12.01
	Salerno Village			FL	Port St. Lucie	5	5	100.0%						-	$	14.26
	Sawgrass Promenade			FL	Miami-Ft Lauderdale-PompanoBch	107	107	86.9%					36	Publix, Walgreens, Dollar Tree	$	12.62
	Seminole Shoppes	O	50%	FL	Jacksonville	87	44	100.0%					54	Publix	$	23.82
	Sheridan Plaza			FL	Miami-Ft Lauderdale-PompanoBch	507	507	93.9%					66	Publix, Kohl's, LA Fitness, Ross Dress for Less, Pet Supplies Plus, Wellmax, Burlington, Marshalls	$	19.53
	Shoppes @ 104			FL	Miami-Ft Lauderdale-PompanoBch	112	112	90.0%					46	Winn-Dixie, CVS	$	19.70
	Shoppes at Bartram Park	O	50%	FL	Jacksonville	135	67	99.0%			97		45	Publix, (Kohl's), (Tutor Time)	$	21.70
	Shoppes at Lago Mar			FL	Miami-Ft Lauderdale-PompanoBch	83	83	90.8%					42	Publix, YouFit Health Club	$	15.49
	Shoppes at Sunlake Centre			FL	Tampa-St Petersburg-Clearwater	117	117	100.0%					46	Publix	$	24.58

Supplemental Information 31

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%	REG's pro-rata share	REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA	GLA	% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
	Shoppes of Jonathan's Landing			FL	Miami-Ft Lauderdale-PompanoBch	27	27	100.0%			54		54	(Publix)	$	26.87
	Shoppes of Oakbrook			FL	Miami-Ft Lauderdale-PompanoBch	200	200	64.4%					44	Publix, Tuesday Morning, Duffy's Sports Bar, CVS	$	17.67
	Shoppes of Pebblebrook Plaza	O	50%	FL	Naples-Marco Island	80	40	97.0%					61	Publix, (Walgreens)	$	16.14
	Shoppes of Silver Lakes			FL	Miami-Ft Lauderdale-PompanoBch	127	127	94.7%					48	Publix, Goodwill	$	20.50
	Shoppes of Sunset			FL	Miami-Ft Lauderdale-PompanoBch	22	22	81.9%						-	$	24.49
	Shoppes of Sunset II			FL	Miami-Ft Lauderdale-PompanoBch	28	28	85.6%						-	$	22.14
	Shops at John's Creek			FL	Jacksonville	15	15	100.0%						-	$	26.10
	Shops at Skylake			FL	Miami-Ft Lauderdale-PompanoBch	287	287	98.6%					51	Publix, LA Fitness, TJ Maxx, Goodwill, Pasteur Medical	$	24.77
	South Beach Regional			FL	Jacksonville	308	308	84.5%					13	Trader Joe's, Home Depot, Ross Dress for Less, Bed Bath & Beyond, Staples	$	17.13
	South Point			FL	Sebastian-Vero Beach	65	65	100.0%					45	Publix	$	17.30
	Starke			FL	Jacksonville	13	13	100.0%						CVS	$	27.05
	Suncoast Crossing			FL	Tampa-St Petersburg-Clearwater	118	118	97.6%			143			Kohl's, (Target)	$	6.89
	Tamarac Town Square			FL	Miami-Ft Lauderdale-PompanoBch	125	125	85.8%					38	Publix, Dollar Tree, Retro Fitness	$	12.30
	The Plaza at St. Lucie West			FL	Port St. Lucie	27	27	100.0%						-	$	25.32
	The Village at Hunter's Lake			FL	Tampa-St Petersburg-Clearwater	72	72	100.0%					29	Sprouts	$	27.82
	Town and Country			FL	Orlando-Kissimmee-Sanford	78	78	97.9%						Ross Dress for Less	$	11.13
	Town Square			FL	Tampa-St Petersburg-Clearwater	44	44	72.6%						PETCO	$	34.98
	Treasure Coast Plaza			FL	Sebastian-Vero Beach	134	134	98.2%					59	Publix, TJ Maxx	$	18.59
	Unigold Shopping Center			FL	Orlando-Kissimmee-Sanford	115	115	89.3%					31	YouFit Health Club, Ross Dress for Less	$	15.51
	University Commons			FL	Miami-Ft Lauderdale-PompanoBch	180	180	100.0%					51	Whole Foods, Nordstrom Rack, Barnes & Noble, Bed Bath & Beyond	$	34.63
	Village Center			FL	Tampa-St Petersburg-Clearwater	187	187	97.3%					50	Publix, PGA Tour Superstore, Walgreens	$	22.26
	Waterstone Plaza			FL	Miami-Ft Lauderdale-PompanoBch	61	61	100.0%					46	Publix	$	17.52
	Welleby Plaza			FL	Miami-Ft Lauderdale-PompanoBch	110	110	93.8%					47	Publix, Dollar Tree	$	14.43
	Wellington Town Square			FL	Miami-Ft Lauderdale-PompanoBch	108	108	96.3%					45	Publix, CVS	$	24.88
	West Bird Plaza			FL	Miami-Ft Lauderdale-PompanoBch	99	99	96.4%					38	Publix	$	25.12
	West Lake Shopping Center			FL	Miami-Ft Lauderdale-PompanoBch	101	101	96.6%					46	Winn-Dixie, CVS	$	21.47
	Westchase			FL	Tampa-St Petersburg-Clearwater	79	79	100.0%					51	Publix	$	17.40
	Westport Plaza			FL	Miami-Ft Lauderdale-PompanoBch	47	47	91.6%					28	Publix	$	21.01
	Willa Springs			FL	Orlando-Kissimmee-Sanford	90	90	91.4%					44	Publix	$	21.49

Supplemental Information 32

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%		REG's pro-rata share		REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA		GLA		% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
				FL			11,439		11,000	94.3%			1,049		3,422		$	19.68
	Ashford Place			GA	Atlanta-SandySprings-Alpharett		53		53	100.0%						Harbor Freight Tools	$	23.73
	Briarcliff La Vista			GA	Atlanta-SandySprings-Alpharett		43		43	100.0%						Michael's	$	22.32
	Briarcliff Village			GA	Atlanta-SandySprings-Alpharett		189		189	98.3%					43	Burlington, Party City, Publix, Shoe Carnival, TJ Maxx	$	16.93
	Bridgemill Market			GA	Atlanta-SandySprings-Alpharett		89		89	90.4%					38	Publix	$	17.72
	Brighten Park			GA	Atlanta-SandySprings-Alpharett		137		137	85.6%					25	Lidl	$	29.18
	Buckhead Court			GA	Atlanta-SandySprings-Alpharett		49		49	89.7%						-	$	31.39
	Buckhead Landing			GA	Atlanta-SandySprings-Alpharett		152		152	74.3%					56	Binders Art Supplies & Frames, Kroger	$	19.36
	Buckhead Station			GA	Atlanta-SandySprings-Alpharett		234		234	100.0%						Bed Bath & Beyond, Cost Plus World Market, DSW Warehouse, Nordstrom Rack, Old Navy, Saks Off 5th, TJ Maxx, Ulta	$	25.25
	Cambridge Square			GA	Atlanta-SandySprings-Alpharett		71		71	40.0%					41	-	$	26.59
	Chastain Square			GA	Atlanta-SandySprings-Alpharett		92		92	100.0%					37	Publix	$	23.36
	Cornerstone Square			GA	Atlanta-SandySprings-Alpharett		80		80	100.0%					18	Aldi, CVS, HealthMarkets Insurance, Diazo Specialty Blueprint	$	18.64
	Sope Creek Crossing			GA	Atlanta-SandySprings-Alpharett		99		99	95.5%					45	Publix	$	16.60
	Dunwoody Hall			GA	Atlanta-SandySprings-Alpharett		86		86	95.7%					44	Publix	$	20.05
	Dunwoody Village			GA	Atlanta-SandySprings-Alpharett		121		121	93.5%					18	The Fresh Market, Walgreens, Dunwoody Prep	$	21.24
	Howell Mill Village			GA	Atlanta-SandySprings-Alpharett		92		92	100.0%					31	Publix	$	24.55
	Paces Ferry Plaza			GA	Atlanta-SandySprings-Alpharett		82		82	99.9%					30	Whole Foods	$	39.99
	Powers Ferry Square			GA	Atlanta-SandySprings-Alpharett		97		97	100.0%						HomeGoods, PETCO	$	34.64
	Powers Ferry Village			GA	Atlanta-SandySprings-Alpharett		76		76	91.1%					48	Publix, The Juice Box	$	10.39
	Russell Ridge			GA	Atlanta-SandySprings-Alpharett		101		101	88.4%					63	Kroger	$	13.00
	Sandy Springs			GA	Atlanta-SandySprings-Alpharett		116		116	95.1%					12	Trader Joe's, Fox's, Peter Glenn Ski & Sports	$	24.81
	The Shops at Hampton Oaks			GA	Atlanta-SandySprings-Alpharett		21		21	81.5%						(CVS)	$	12.05
	Williamsburg at Dunwoody			GA	Atlanta-SandySprings-Alpharett		45		45	82.7%						-	$	27.19
				GA			2,126		2,126	92.0%	92.0%		0		551		$	22.72
	Civic Center Plaza	GRI	40%	IL	Chicago-Naperville-Elgin		265		106	96.6%					87	Super H Mart, Home Depot, O'Reilly Automotive, King Spa	$	10.53
	Clybourn Commons			IL	Chicago-Naperville-Elgin		32		32	89.9%						PETCO	$	37.56
	Glen Oak Plaza			IL	Chicago-Naperville-Elgin		63		63	99.5%					12	Trader Joe's, Walgreens, Northshore University Healthsystems	$	27.16
	Hinsdale Lake Commons (fka Hinsdale)			IL	Chicago-Naperville-Elgin		185		185	90.5%					57	Whole Foods, Goodwill, Charter Fitness, Petco	$	15.96
	Mellody Farm			IL	Chicago-Naperville-Elgin		259		259	93.2%					45	Whole Foods, Nordstrom Rack, REI, HomeGoods, Barnes & Noble, West Elm	$	28.42
(2)	Naperville Plaza	C	20%	IL	Chicago-Naperville-Elgin		115		23	95.9%					39	Casey's Foods, Trader Joe's, Oswald's Pharmacy	$	25.01

Supplemental Information 33

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%		REG's pro-rata share		REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA		GLA		% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
	Riverside Sq & River's Edge	GRI	40%	IL	Chicago-Naperville-Elgin	169		68		99.3%					74	Mariano's Fresh Market, Dollar Tree, Party City, Blink Fitness	$	17.54
	Roscoe Square	GRI	40%	IL	Chicago-Naperville-Elgin	140		56		67.7%					51	Mariano's Fresh Market, Walgreens	$	27.79
	Westchester Commons			IL	Chicago-Naperville-Elgin	143		143		91.7%					80	Mariano's Fresh Market, Goodwill	$	17.44
	Willow Festival			IL	Chicago-Naperville-Elgin	404		404		96.0%					60	Whole Foods, Lowe's, CVS, HomeGoods, REI, Best Buy, Ulta	$	18.22
				IL			1,775		1,338	93.3%	93.3%		0		505		$	20.45
	Shops on Main	M	94%	IN	Chicago-Naperville-Elgin	279		279		99.1%					40	Whole Foods, Dick's Sporting Goods, Ross Dress for Less, HomeGoods, DSW, Nordstrom Rack, Marshalls	$	16.20
	Willow Lake Shopping Center	GRI	40%	IN	Indianapolis-Carmel-Anderson	86		34		72.4%			64		64	Indiana Bureau of Motor Vehicles, (Kroger)	$	18.89
	Willow Lake West Shopping Center	GRI	40%	IN	Indianapolis-Carmel-Anderson	53		21		100.0%					12	Trader Joe's	$	26.71
				IN			418		335	96.5%	96.5%		64		116		$	17.10
	Fellsway Plaza	M	75%	MA	Boston-Cambridge-Newton	158		158		93.7%					61	Stop & Shop, Planet Fitness, BioLife Plasma Services	$	25.99
	Shaw's at Plymouth			MA	Boston-Cambridge-Newton	60		60		100.0%					60	Shaw's	$	19.34
	Shops at Saugus			MA	Boston-Cambridge-Newton	87		87		98.6%					11	Trader Joe's, La-Z-Boy, PetSmart	$	30.42
	Star's at Cambridge			MA	Boston-Cambridge-Newton	66		66		100.0%					66	Star Market	$	41.18
	Star's at Quincy			MA	Boston-Cambridge-Newton	101		101		100.0%					101	Star Market	$	23.63
	Star's at West Roxbury			MA	Boston-Cambridge-Newton	76		76		94.7%					55	Shaw's	$	26.63
	The Abbot			MA	Boston-Cambridge-Newton	65		65		51.0%						-	$	0.00
	Twin City Plaza			MA	Boston-Cambridge-Newton	285		285		100.0%					63	Shaw's, Marshall's, Extra Space Storage, Walgreens, K&G Fashion, Dollar Tree, Everfitness, Formlabs	$	21.60
				MA			897		897	94.8%	94.8%		0		416		$	28.28
	Burnt Mills	C	20%	MD	Washington-Arlington-Alexandri	31		6		86.9%					9	Trader Joe's	$	42.15
	Cloppers Mill Village	GRI	40%	MD	Washington-Arlington-Alexandri	137		55		95.8%					70	Shoppers Food Warehouse, Dollar Tree	$	19.05
	Festival at Woodholme	GRI	40%	MD	Baltimore-Columbia-Towson	81		32		93.1%					10	Trader Joe's	$	40.74
	Firstfield Shopping Center	GRI	40%	MD	Washington-Arlington-Alexandri	22		9		100.0%						-	$	43.01
	Parkville Shopping Center	GRI	40%	MD	Baltimore-Columbia-Towson	165		66		96.8%					41	Giant, Parkville Lanes, Dollar Tree, Petco, The Cellar Parkville	$	17.07
	Southside Marketplace	GRI	40%	MD	Baltimore-Columbia-Towson	125		50		90.8%					44	Shoppers Food Warehouse	$	24.38
	Takoma Park	GRI	40%	MD	Washington-Arlington-Alexandri	107		43		100.0%					64	Planet Fitness	$	15.13
	Village at Lee Airpark			MD	Baltimore-Columbia-Towson	121		121		90.5%			75		63	Giant, (Sunrise)	$	29.73
	Watkins Park Plaza	GRI	40%	MD	Washington-Arlington-Alexandri	111		45		100.0%						LA Fitness, CVS	$	29.01
	Westbard Square			MD	Washington-Arlington-Alexandri	147		147		88.9%					55	Giant, Bowlmor AMF	$	36.13
	Woodmoor Shopping Center	GRI	40%	MD	Washington-Arlington-Alexandri	69		28		96.3%						CVS	$	35.37
				MD			1,117		601	93.2%	93.2%		75		357		$	28.36

Supplemental Information 34

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%		REG's pro-rata share		REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA		GLA		% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
	Fenton Marketplace			MI	Flint		97		97	74.0%						Family Farm & Home	$	8.58
				MI			97		97	74.0%	74.0%		0		0		$	8.58
	Apple Valley Square			MN	Minneapol-St. Paul-Bloomington		179		179	100.0%			87			Jo-Ann Fabrics, PETCO, Savers, Experience Fitness, (Burlington Coat Factory), (Aldi)	$	16.84
	Cedar Commons			MN	Minneapol-St. Paul-Bloomington		66		66	100.0%					50	Whole Foods	$	28.17
	Colonial Square	GRI	40%	MN	Minneapol-St. Paul-Bloomington		93		37	100.0%					44	Lund's	$	26.29
	Rockford Road Plaza	GRI	40%	MN	Minneapol-St. Paul-Bloomington		204		82	97.5%						Kohl's, PetSmart, HomeGoods, TJ Maxx	$	13.78
	Rockridge Center	C	20%	MN	Minneapol-St. Paul-Bloomington		125		25	100.0%					89	CUB Foods	$	14.90
				MN			668		390	99.5%	99.5%		87		183		$	18.93
	Brentwood Plaza			MO	St. Louis		60		60	100.0%					52	Schnucks	$	11.45
	Bridgeton			MO	St. Louis		71		71	97.3%			130		63	Schnucks, (Home Depot)	$	12.11
	Dardenne Crossing			MO	St. Louis		67		67	100.0%					63	Schnucks	$	11.59
	Kirkwood Commons			MO	St. Louis		210		210	100.0%			258		136	Walmart, TJ Maxx, HomeGoods, Famous Footwear, (Target), (Lowe's)	$	10.34
				MO			408		408	99.5%	99.5%		388		314		$	11.01
(2)	Blakeney Shopping Center			NC	Charlotte-Concord-Gastonia		384		384	99.7%			124			Harris Teeter, Marshalls, Best Buy, Petsmart, Off Broadway Shoes, Old Navy, (Target)	$	25.79
	Carmel Commons			NC	Charlotte-Concord-Gastonia		141		141	91.3%					14	Chuck E. Cheese, The Fresh Market, Party City	$	24.19
	Cochran Commons	C	20%	NC	Charlotte-Concord-Gastonia		66		13	100.0%			15		42	Harris Teeter, (Walgreens)	$	17.35
	Market at Colonnade Center			NC	Raleigh-Cary		58		58	100.0%					40	Whole Foods	$	28.11
	Glenwood Village			NC	Raleigh-Cary		43		43	100.0%					28	Harris Teeter	$	18.03
	Holly Park			NC	Raleigh-Cary		160		160	93.8%					12	DSW Warehouse, Trader Joe's, Ross Dress For Less, Staples, US Fitness Products, Jerry's Artarama, Pet Supplies Plus, Ulta	$	19.18
	Lake Pine Plaza			NC	Raleigh-Cary		88		88	100.0%					58	Harris Teeter	$	14.21
	Midtown East	O	50%	NC	Raleigh-Cary		159		79	100.0%					120	Wegmans	$	24.13
	Ridgewood Shopping Center	C	20%	NC	Raleigh-Cary		94		19	91.2%					30	Whole Foods, Walgreens	$	21.35
	Shops at Erwin Mill	M	55%	NC	Durham-Chapel Hill		91		91	96.4%					53	Harris Teeter	$	19.18
	Shoppes of Kildaire	GRI	40%	NC	Raleigh-Cary		145		58	78.9%					46	Trader Joe's, Aldi, Staples	$	21.59
	Southpoint Crossing			NC	Durham-Chapel Hill		103		103	98.4%					59	Harris Teeter	$	16.89
	Sutton Square	C	20%	NC	Raleigh-Cary		101		20	96.4%					24	The Fresh Market	$	20.82
	Village District	C	30%	NC	Raleigh-Cary		559		168	95.2%					87	Harris Teeter, The Fresh Market, Wake Public Library, Walgreens, Talbots, Great Outdoor Provision Co., York Properties,The Cheshire Cat Gallery, Crunch Fitness Select Club, Bailey's Fine Jewelry, Sephora, Barnes & Noble, Goodnight's Comedy Club	$	25.41
	Village Plaza	C	20%	NC	Durham-Chapel Hill		73		15	100.0%					42	Whole Foods	$	23.55
	Willow Oaks			NC	Charlotte-Concord-Gastonia		65		65	100.0%					49	Publix	$	17.51
	Woodcroft Shopping Center			NC	Durham-Chapel Hill		90		90	100.0%					41	Food Lion, ACE Hardware	$	14.45

Supplemental Information 35

Supplemental Information 36

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%		REG's pro-rata share		REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA		GLA		% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
				NC			2,419		1,594	96.8%	96.8%		139		744		$	21.78
	Chimney Rock			NJ	New York-Newark-Jersey City		218		218	99.3%					50	Whole Foods, Nordstrom Rack, Saks Off 5th, The Container Store, Ulta	$	36.82
	District at Metuchen	C	20%	NJ	New York-Newark-Jersey City		67		13	100.0%					44	Whole Foods	$	30.44
(2)	Glenwood Green	M	70%	NJ	Philadelphia-Camden-Wilmington		355		355	60.5%					80	ShopRite, Target	$	10.45
	Haddon Commons	GRI	40%	NJ	Philadelphia-Camden-Wilmington		54		22	100.0%					34	Acme Markets	$	15.12
	Plaza Square	GRI	40%	NJ	New York-Newark-Jersey City		104		42	78.6%					43	Grocer	$	17.10
				NJ			798		650	76.8%	96.4%		0		251		$	23.08
	101 7th Avenue			NY	New York-Newark-Jersey City		57		57	0.0%						-	$	0.00
	1175 Third Avenue			NY	New York-Newark-Jersey City		25		25	100.0%					25	The Food Emporium	$	116.62
	1225-1239 Second Ave			NY	New York-Newark-Jersey City		18		18	100.0%						CVS	$	127.71
	90 - 30 Metropolitan Avenue			NY	New York-Newark-Jersey City		60		60	93.9%					11	Michaels, Staples, Trader Joe's	$	34.27
	Broadway Plaza			NY	New York-Newark-Jersey City		147		147	91.8%					18	Aldi, Best Buy, Bob's Discount Furniture, TJ Maxx, Blink Fitness	$	42.12
	Clocktower Plaza Shopping Ctr			NY	New York-Newark-Jersey City		79		79	100.0%					63	Stop & Shop	$	49.72
(2)	East Meadow			NY	New York-Newark-Jersey City		141		141	92.3%						Marshalls, Stew Leonard's	$	15.44
(2)	Eastport			NY	New York-Newark-Jersey City		48		48	97.3%						King Kullen, Rite Aid	$	12.84
	The Gallery at Westbury Plaza			NY	New York-Newark-Jersey City		312		312	100.0%					13	Trader Joe's, Nordstrom Rack, Saks Fifth Avenue, Bloomingdale's, The Container Store, HomeGoods, Old Navy, Gap Outlet, Bassett Home Furnishings, Famous Footware	$	49.84
	Hewlett Crossing I & II			NY	New York-Newark-Jersey City		52		52	96.2%						-	$	38.36
	Rivertowns Square			NY	New York-Newark-Jersey City		116		116	92.6%					18	Ulta, The Learning Experience, Mom's Organic Market, Look Cinemas	$	25.91
	The Point at Garden City Park			NY	New York-Newark-Jersey City		105		105	100.0%					52	King Kullen, Ace Hardware	$	29.97
	Lake Grove Commons	GRI	40%	NY	New York-Newark-Jersey City		141		57	99.2%					48	Whole Foods, LA Fitness, PETCO	$	35.60
(2)	Valley Stream			NY	New York-Newark-Jersey City		99		99	97.8%						King Kullen	$	28.91
(2)	Wading River			NY	New York-Newark-Jersey City		99		99	84.5%						King Kullen, CVS, Ace Hardware	$	23.49
	Westbury Plaza			NY	New York-Newark-Jersey City		390		390	100.0%					110	WalMart, Costco, Marshalls, Total Wine and More, Olive Garden	$	26.60
				NY			1,890		1,805	93.7%	93.7%		0		357		$	35.47
	Cherry Grove			OH	Cincinnati		196		196	99.0%					66	Kroger, Shoe Carnival, TJ Maxx, Tuesday Morning	$	12.49
	East Pointe			OH	Columbus		111		111	100.0%					76	Kroger	$	11.23
	Hyde Park			OH	Cincinnati		401		401	98.3%					169	Kroger, Remke Markets, Walgreens, Jo-Ann Fabrics, Ace Hardware, Staples, Marshalls	$	17.22
	Kroger New Albany Center	M	50%	OH	Columbus		93		93	100.0%					65	Kroger	$	13.43

Supplemental Information 37

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%		REG's pro-rata share		REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA		GLA		% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
	Northgate Plaza (Maxtown Road)			OH	Columbus	117		117		100.0%			90		91	Kroger, (Home Depot)	$	11.96
	Red Bank Village			OH	Cincinnati	176		176		100.0%					152	WalMart	$	7.72
	Regency Commons			OH	Cincinnati	34		34		84.0%						-	$	26.70
	West Chester Plaza			OH	Cincinnati	88		88		100.0%					67	Kroger	$	10.35
				OH			1,217		1,217	98.8%	98.8%		90		685		$	13.41
	Corvallis Market Center			OR	Corvallis	85		85		100.0%					12	Michaels, TJ Maxx, Trader Joe's	$	22.21
	Greenway Town Center	GRI	40%	OR	Portland-Vancouver-Hillsboro	93		37		100.0%					38	Dollar Tree, Rite Aid, Whole Foods	$	16.42
	Murrayhill Marketplace			OR	Portland-Vancouver-Hillsboro	150		150		85.6%					41	Safeway, Planet Fitness	$	20.21
	Northgate Marketplace			OR	Medford	81		81		90.4%					13	Trader Joe's, REI, PETCO	$	22.74
	Northgate Marketplace Ph II			OR	Medford	177		177		98.4%						Dick's Sporting Goods, Homegoods, Marshalls	$	18.08
	Sherwood Crossroads			OR	Portland-Vancouver-Hillsboro	88		88		100.0%					55	Safeway	$	12.40
	Tanasbourne Market			OR	Portland-Vancouver-Hillsboro	71		71		100.0%					57	Whole Foods	$	30.11
	Walker Center			OR	Portland-Vancouver-Hillsboro	90		90		98.4%						Bed Bath & Beyond	$	22.67
				OR			835		779	95.7%	95.7%		0		215		$	20.31
	Allen Street Shopping Ctr	GRI	40%	PA	Allentown-Bethlehem-Easton	46		18		100.0%					22	Grocery Outlet Bargain Market	$	17.96
(2)	Baederwood Shopping Center	M	80%	PA	Philadelphia-Camden-Wilmington	117		117		96.3%					40	Whole Foods, Planet Fitness	$	27.56
	City Avenue Shopping Center	GRI	40%	PA	Philadelphia-Camden-Wilmington	162		65		90.4%						Ross Dress for Less, TJ Maxx, Dollar Tree	$	20.87
	Gateway Shopping Center			PA	Philadelphia-Camden-Wilmington	224		224		95.8%					11	Trader Joe's, Staples, TJ Maxx, Jo-Ann Fabrics	$	34.33
	Hershey			PA	Harrisburg-Carlisle	6		6		100.0%						-	$	30.00
	Lower Nazareth Commons			PA	Allentown-Bethlehem-Easton	96		96		100.0%			244		111	Burlington Coat Factory, PETCO, (Wegmans), (Target)	$	26.39
	Mercer Square Shopping Center	GRI	40%	PA	Philadelphia-Camden-Wilmington	91		37		92.5%					51	Weis Markets	$	24.62
	Newtown Square Shopping Center	GRI	40%	PA	Philadelphia-Camden-Wilmington	142		57		91.6%					56	Acme Markets, Michael's	$	19.58
	Stefko Boulevard Shopping Center	GRI	40%	PA	Allentown-Bethlehem-Easton	134		54		86.4%					73	Valley Farm Market, Dollar Tree, Retro Fitness	$	11.28
				PA			1,112		711	92.0%	92.0%		244		416		$	26.81
	Indigo Square			SC	Charleston-North Charleston	51		51		100.0%					22	Publix	$	29.94
	Merchants Village	GRI	40%	SC	Charleston-North Charleston	80		32		96.7%					38	Publix	$	17.55
				SC			131		83	98.7%	98.7%		0		59		$	25.27
	Harpeth Village Fieldstone			TN	Nashvil-Davdsn-Murfree-Frankln	70		70		100.0%					55	Publix	$	16.20
	Northlake Village			TN	Nashvil-Davdsn-Murfree-Frankln	135		135		96.0%					75	Kroger	$	14.88
	Peartree Village			TN	Nashvil-Davdsn-Murfree-Frankln	110		110		100.0%					84	Kroger, PETCO	$	20.25
				TN			314		314	98.3%	98.3%		0		214		$	17.06

Supplemental Information 38

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%		REG's pro-rata share		REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA		GLA		% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
	Alden Bridge			TX	Houston-Woodlands-Sugar Land		139		139	99.0%					68	Kroger, Walgreens	$	21.64
(2)	Baybrook East	O	50%	TX	Houston-Woodlands-Sugar Land		156		78	85.2%					106	H.E.B	$	10.60
	Bethany Park Place			TX	Dallas-Fort Worth-Arlington		99		99	95.2%					83	Kroger	$	11.59
	CityLine Market			TX	Dallas-Fort Worth-Arlington		81		81	100.0%					40	Whole Foods	$	29.90
	CityLine Market Phase II			TX	Dallas-Fort Worth-Arlington		22		22	100.0%						CVS	$	27.95
	Cochran's Crossing			TX	Houston-Woodlands-Sugar Land		138		138	98.8%					63	Kroger	$	20.22
	Hancock			TX	Austin-Round Rock-Georgetown		263		263	97.1%					90	24 Hour Fitness, Firestone Complete Auto Care, H.E.B, PETCO, Twin Liquors	$	19.20
	Hillcrest Village			TX	Dallas-Fort Worth-Arlington		15		15	100.0%						-	$	49.88
	Indian Springs Center			TX	Houston-Woodlands-Sugar Land		137		137	99.0%					79	H.E.B.	$	25.30
	Keller Town Center			TX	Dallas-Fort Worth-Arlington		120		120	93.9%					64	Tom Thumb	$	16.72
	Lebanon/Legacy Center			TX	Dallas-Fort Worth-Arlington		56		56	90.7%			63		63	(WalMart)	$	29.09
	Market at Preston Forest			TX	Dallas-Fort Worth-Arlington		96		96	100.0%					64	Tom Thumb	$	22.47
	Market at Round Rock			TX	Austin-Round Rock-Georgetown		123		123	96.1%					30	Sprout's Markets, Office Depot, Tuesday Morning	$	19.51
	Market at Springwoods Village	M	53%	TX	Houston-Woodlands-Sugar Land		167		167	98.6%					100	Kroger	$	17.31
	Mockingbird Commons			TX	Dallas-Fort Worth-Arlington		120		120	95.4%					49	Tom Thumb, Ogle School of Hair Design	$	19.68
	North Hills			TX	Austin-Round Rock-Georgetown		164		164	100.0%					60	H.E.B.	$	21.51
	Panther Creek			TX	Houston-Woodlands-Sugar Land		166		166	98.4%					66	CVS, The Woodlands Childrens Museum, Fitness Project	$	24.58
	Prestonbrook			TX	Dallas-Fort Worth-Arlington		92		92	100.0%					64	Kroger	$	15.33
(2)	Preston Oaks			TX	Dallas-Fort Worth-Arlington		103		103	83.0%					30	Central Market, Talbots	$	38.30
	Shiloh Springs			TX	Dallas-Fort Worth-Arlington		110		110	89.8%					61	Kroger	$	14.67
	Shops at Mira Vista			TX	Austin-Round Rock-Georgetown		68		68	100.0%					15	Trader Joe's, Champions Westlake Gymnastics & Cheer	$	25.29
	Southpark at Cinco Ranch			TX	Houston-Woodlands-Sugar Land		265		265	98.1%					101	Kroger, Academy Sports, PETCO, Spec's Liquor and Finer Foods	$	13.69
	Sterling Ridge			TX	Houston-Woodlands-Sugar Land		129		129	98.9%					63	Kroger, CVS	$	22.00
	Sweetwater Plaza	C	20%	TX	Houston-Woodlands-Sugar Land		134		27	93.4%					65	Kroger, Walgreens	$	18.13
	Tech Ridge Center			TX	Austin-Round Rock-Georgetown		216		216	100.0%					84	H.E.B., Pinstack, Baylor Scott & White	$	23.83
	The Village at Riverstone			TX	Houston-Woodlands-Sugar Land		165		165	95.4%					100	Kroger	$	16.91
	Weslayan Plaza East	GRI	40%	TX	Houston-Woodlands-Sugar Land		169		68	99.1%						Berings, Ross Dress for Less, Michaels, The Next Level Fitness, Spec's Liquor, Trek Bicycle	$	21.09
	Weslayan Plaza West	GRI	40%	TX	Houston-Woodlands-Sugar Land		186		74	92.6%					52	Randalls Food, Walgreens, PETCO, Jo-Ann's, Tuesday Morning, Homegoods	$	20.79
	Westwood Village			TX	Houston-Woodlands-Sugar Land		187		187	96.7%			127			Fitness Project, PetSmart, Office Max, Ross Dress For Less, TJ Maxx, (Target)	$	20.28

Supplemental Information 39

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%		REG's pro-rata share		REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA		GLA		% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
	Woodway Collection	GRI	40%	TX	Houston-Woodlands-Sugar Land		97		39	94.2%					45	Whole Foods	$	31.32
				TX			3,981		3,525	96.7%	97.0%		190		1,706		$	20.61
	Ashburn Farm Village Center	GRI	40%	VA	Washington-Arlington-Alexandri		92		37	100.0%					27	Patel Brothers, The Shop Gym	$	17.30
	Belmont Chase			VA	Washington-Arlington-Alexandri		91		91	98.3%					40	Cooper's Hawk Winery, Whole Foods	$	33.42
	Braemar Village Center	RC	25%	VA	Washington-Arlington-Alexandri		104		26	100.0%					58	Safeway	$	23.49
(2)	Carytown Exchange	M	59%	VA	Richmond		116		116	72.6%					38	Publix, CVS	$	24.20
	Centre Ridge Marketplace	GRI	40%	VA	Washington-Arlington-Alexandri		107		43	98.9%					55	United States Coast Guard Ex, Planet Fitness	$	20.30
	Point 50			VA	Washington-Arlington-Alexandri		48		48	100.0%					30	Amazon Fresh	$	45.98
	Festival at Manchester Lakes	GRI	40%	VA	Washington-Arlington-Alexandri		168		67	81.9%					32	Amazon Fresh, Homesense	$	30.00
	Fox Mill Shopping Center	GRI	40%	VA	Washington-Arlington-Alexandri		103		41	94.2%					50	Giant	$	26.53
	Greenbriar Town Center	GRI	40%	VA	Washington-Arlington-Alexandri		340		136	98.1%					62	Big Blue Swim School, Bob's Discount Furniture, CVS, Giant, Marshalls, Planet Fitness, Ross Dress for Less, Total Wine and More	$	28.62
	Hanover Village Shopping Center	GRI	40%	VA	Richmond		90		36	100.0%					18	Aldi, Tractor Supply Company, Harbor Freight Tools, Tuesday Morning	$	9.80
	Kamp Washington Shopping Center	GRI	40%	VA	Washington-Arlington-Alexandri		71		29	100.0%					20	PGA Tour Superstore	$	33.05
	Kings Park Shopping Center	GRI	40%	VA	Washington-Arlington-Alexandri		96		39	100.0%					51	Giant, CVS	$	33.05
	Lorton Station Marketplace	C	20%	VA	Washington-Arlington-Alexandri		136		27	67.4%					63	Amazon Fresh	$	31.47
	Saratoga Shopping Center	GRI	40%	VA	Washington-Arlington-Alexandri		113		45	97.0%					56	Giant	$	22.24
	Shops at County Center			VA	Washington-Arlington-Alexandri		97		97	98.3%					52	Harris Teeter, Planet Fitness	$	18.97
	The Crossing Clarendon			VA	Washington-Arlington-Alexandri		420		420	91.1%					34	Whole Foods, Crate & Barrel, The Container Store, Barnes & Noble, Pottery Barn, Ethan Allen, The Cheesecake Factory, Life Time Fitness	$	37.97
	The Field at Commonwealth			VA	Washington-Arlington-Alexandri		167		167	100.0%					122	Wegmans	$	22.50
	Village Center at Dulles	C	20%	VA	Washington-Arlington-Alexandri		304		61	94.0%					48	Giant, Gold's Gym, CVS, Advance Auto Parts, Chuck E. Cheese, HomeGoods, Goodwill, Furniture Max	$	25.73
	Village Shopping Center	GRI	40%	VA	Richmond		116		46	88.8%					45	Publix, CVS	$	25.01
	Willston Centre I	GRI	40%	VA	Washington-Arlington-Alexandri		105		42	90.8%						CVS, Fashion K City	$	27.99
	Willston Centre II	GRI	40%	VA	Washington-Arlington-Alexandri		136		54	97.6%			141		59	Safeway, (Target), (PetSmart)	$	27.28
				VA			3,021		1,668	93.2%	94.7%		141		960		$	28.97
	6401 Roosevelt			WA	Seattle-Tacoma-Bellevue		8		8	100.0%						-	$	25.29
	Aurora Marketplace	GRI	40%	WA	Seattle-Tacoma-Bellevue		107		43	98.7%					49	Safeway, TJ Maxx	$	18.17
	Ballard Blocks I	O	50%	WA	Seattle-Tacoma-Bellevue		132		66	97.7%					12	LA Fitness, Ross Dress for Less, Trader Joe's	$	26.00

Supplemental Information 40

Portfolio Summary Report By State

June 30, 2022

(GLA in thousands)

						JVs at 100%		REG's pro-rata share		REG's pro-rata share	REG's pro-rata share
Property Name		JV	REG %	State	CBSA	GLA		GLA		% Leased	% Leased - Retail Operating Properties	Retailer-Owned GLA		Grocery Anchor GLA		Major Tenants (1)	Avg. Base Rent PSF
	Ballard Blocks II	O	50%	WA	Seattle-Tacoma-Bellevue	117		58		98.4%					25	Bright Horizons, Kaiser Permanente, PCC Community Markets, Prokarma, Trufusion, West Marine	$	35.74
	Broadway Market	C	20%	WA	Seattle-Tacoma-Bellevue	140		28		96.8%					64	Gold's Gym, Mosaic Salon Group, Quality Food Centers	$	28.70
	Cascade Plaza	C	20%	WA	Seattle-Tacoma-Bellevue	206		41		97.1%					49	Big 5 Sporting Goods, Big Lots, Dollar Tree, Jo-Ann Fabrics, Planet Fitness, Ross Dress For Less, Safeway, Aaron's	$	12.60
	Eastgate Plaza	GRI	40%	WA	Seattle-Tacoma-Bellevue	85		34		96.5%					29	Safeway, Rite Aid	$	31.28
	Grand Ridge Plaza			WA	Seattle-Tacoma-Bellevue	331		331		97.8%					45	Bevmo!, Dick's Sporting Goods, Marshalls, Regal Cinemas,Safeway, Ulta	$	26.06
	Inglewood Plaza			WA	Seattle-Tacoma-Bellevue	17		17		100.0%						-	$	44.83
(2)	Island Village			WA	Seattle-Tacoma-Bellevue	106		106		98.2%					49	Safeway, Rite Aid	$	15.70
	Klahanie Shopping Center			WA	Seattle-Tacoma-Bellevue	67		67		87.2%			40		40	(QFC)	$	36.92
	Melrose Market			WA	Seattle-Tacoma-Bellevue	21		21		87.2%						-	$	32.64
	Overlake Fashion Plaza	GRI	40%	WA	Seattle-Tacoma-Bellevue	87		35		100.0%			230		13	Marshalls, Bevmo!, Amazon Go Grocery	$	29.19
	Pine Lake Village			WA	Seattle-Tacoma-Bellevue	103		103		98.4%					41	Quality Food Centers, Rite Aid	$	25.72
	Roosevelt Square			WA	Seattle-Tacoma-Bellevue	150		150		96.0%					50	Whole Foods, Bartell, Guitar Center, LA Fitness	$	26.92
	Sammamish-Highlands			WA	Seattle-Tacoma-Bellevue	101		101		97.2%			55		67	Trader Joe's, Bartell Drugs, (Safeway)	$	38.55
	Southcenter			WA	Seattle-Tacoma-Bellevue	58		58		100.0%			112			(Target)	$	33.06
				WA			1,837		1,267	97.1%	97.1%		437		532		$	27.46
	Regency Centers Total						51,102		43,173	94.2%	94.5%		3,747		16,085		$	23.50

(1)Major Tenants are the grocery anchor and any tenant 10,000 square feet or greater. Retailers in parenthesis are a shadow anchor and not a part of the owned property.

(2)Non-Same Property

Note: In-process developments are bolded and italicized.

C: Co-investment Partnership with Oregon

GRI: Co-investment Partnership with GRI

M: Co-investment Partnership with Minority Partner

NYC: Co-investment Partnership with NYCRF

O: Other, single property co-investment Partnerships

RC: Co-investment Partnership with CalSTRS

Supplemental Information 41

Components of Net Asset Value (NAV)

As of June 30, 2022

(unaudited and in thousands)

Real Estate - Operating
Operating Portfolio NOI Excluding Straight-line Rent and Above/Below Market Rent - Current Quarter
Wholly Owned NOI (page 5)	$	200,836
Share of JV NOI (page 7)	$	23,467
Less: Noncontrolling Interests (page 7)	$	(1,812	)
Retail Operating Properties Excluding In-Process Redevelopments
Retail Operating Properties Excluding In-Process Redevelopments (Quarterly)	$	5,851
Retail Operating Properties Including In-Process Redevelopments (Quarterly)	$	8,420

Real Estate: In-Process Ground-Up Developments and Redevelopments
In-Process Ground-Up Development
REG's Estimated Net Project Costs (page 17)	$	100,834
Stabilized Yield (page 17)		7	%
Annualized Proforma Stabilized NOI	$	7,167
% of Costs Incurred (page 17)		55	%
Construction in Progress	$	55,459
NOI from In-Process Ground-Up Development - Current Quarter
In-place NOI from Current Year Ground-Up Development Completions	$	-
In-place NOI from In-Process Ground-Up Developments	$	133
In-Process Redevelopment Projects
REG's Estimated Net Project Costs (page 17)	$	288,811
Stabilized Yield (page 17)		7	%
Annualized Proforma Stabilized NOI	$	20,865
% of Costs Incurred (page 17)		49	%
Construction in Progress	$	141,517
NOI from In-Process Redevelopment - Current Quarter
In-place NOI from Current Year Redevelopment Completions	$	268
In-place NOI from In-Process Redevelopments	$	847

Fee Income
Third-Party Management Fees and Commissions - Current Quarter (page 5)	$	6,499
Less: Share of JV's Total fee income - Current Quarter (page 7)	$	(250	)

Other Assets
Estimated Market Value of Land
Land held for sale or future development	$	38,427
Outparcels at retail operating properties		12,210
101 7th Avenue at Book Value, Net		25,000
Total Estimated Market Value of Land	$	75,637
Regency's Pro-Rata Share (page 3 & 6)
Cash and Cash Equivalents	$	142,331
Tenant and other receivables, excluding Straight line rent receivables	$	47,931
Other Assets, excluding Goodwill	$	126,368

Liabilities
Regency's Pro-Rata Share (page 3 & 6)
Notes payable	$	4,214,365
Accounts payable and other liabilities	$	333,747
Tenants' security, escrow deposits	$	69,023

Common Shares and Equivalents Outstanding
Common Shares and Equivalents Issued and Outstanding (page 1)	171,914

Supplemental Information 42

Supplemental Details of Lease Income and Tenant & Other Receivables (Pro Rata)

(in thousands)

Supplemental Details of Lease Income (Pro-Rata)

For the Six Months Ended June 30, 2022

	Six Months Ended
Composition of Lease Income	June 30, 2022
Base Rent	$	448,512
Recoveries from Tenants		151,364
Percentage Rent, Termination Fees, and Other Lease Income		14,805
Current Period Billings/Deferrals & Other Revenue	$	614,681
Uncollectible Lease Income, net		11,985
Non-Cash Revenues (1)		23,871
Total Lease Income (see pages 5 & 7)	$	650,537
Composition of Uncollectible Lease Income
Uncollectible Lease Income - Current Year (2022) Billings (2)	$	(5,586	)
Impact from Current Year 2022 Lease Modifications (3)		2,109
Uncollectible Lease Income - 2022 Billings	$	(3,477	)
Recovery of Prior Year (2020/2021) Reserves, net (4)		15,462
Uncollectible Lease Income, net	$	11,985

Supplemental Details of Tenant & Other Receivables (Pro-Rata)

As of June 30, 2022 and December 31, 2021

	June 30, 2022			December 31, 2021
Tenant receivables	$	57,072		$	82,157
Less: Uncollectible tenant receivables		(32,609	)		(50,246	)
Net tenant receivables	$	24,463		$	31,911
Straight line rent receivables		158,233			152,798
Less: Uncollectible straight line rent receivables		(26,563	)		(32,956	)
Net Straight line rent receivables	$	131,670		$	119,842
Other receivables (5)		23,466			23,079
Total tenant and other receivables (see pages 3 & 6)	$	179,599		$	174,832

Uncollectible Tenant Receivables Balance Reconciliation
Uncollectible tenant receivables (12/31/21)	$	(50,246	)
Uncollectible Lease Income - Current Year (2022) Billings (2)		(5,586	)
Impact from Current Year (2022) Lease Modifications (3)		2,109
Recovery of Prior Year (2020/2021) Reserves, net (4)		15,462
YTD 2022 - Write-offs and Abatements		5,652
Uncollectible tenant receivables (6/30/22)	$	(32,609	)

Composition of Unbilled Deferrals	June 30, 2022		Timing of Rebill
Cash Basis Tenants	$	8,909	2022	49%
Accrual Basis Tenants		122	2023+	51%
Total Unbilled Deferrals (as of 6/30/22) (6)	$	9,031		100%

(1)Includes pro-rata share of straight line rent on lease income, net of uncollectible amounts, and above/below market rent amortization.

(2)Represents Base Rent and Recoveries deemed uncollectible associated with billings during the six months ended June 30, 2022.

(3)The Company accounts for deferrals and abatements that significantly increase the consideration due under the lease (those that do not qualify for the FASB COVID-19 lease concession guidance) as a lease modification, in accordance with ASC 842. Under a lease modification, Lease income is reduced by the amount of the deferral or abatement in the period in which it was granted, and any previous uncollectible lease income associated with that deferral or abatement is reversed.

(4)Represents the collection of Base Rent and Recoveries previously reserved during the years ended December 31, 2020, and December 31, 2021.

(5)Other receivables include construction receivables, insurance receivables and amounts due from real estate partnerships for management, transaction and other fee income.

(6)Represents executed deferral agreements that have yet to be rebilled, as of June 30, 2022.

Supplemental Information 43

Earnings Guidance

June 30, 2022

(in thousands, except per share data)

Full Year 2022 Guidance (in thousands, except per share data)	2Q YTD	Current Guidance	Prior Guidance
Net Income Attributable to Common Stockholders per diluted share	$1.74	$2.60-$2.64	$2.50-$2.56
Nareit Funds From Operations ("Nareit FFO") per diluted share	$2.04	$3.92-$3.96	$3.84-$3.90
Core Operating Earnings per diluted share (1)	$1.91	$3.70-$3.74	$3.65-$3.71
Same property NOI growth without termination fees	4.1%	+1.25% to +2.25%	0% to +1.5%
Same property NOI growth without termination fees or collection of PY reserves	8.6%	+4.75% to +5.75%	+3.5% to +5.0%
Collection of Prior Year Reserves (2)	$15,033	+/-$18,000	+/-$18,000
Certain non-cash items (3)	$22,457	+/-$37,500	+/-$33,500
Impact from Reversal of Uncollectible Straight-Line Rent Receivables (4)	$7,494	$7,494	$3,967
Net G&A expense	$43,598	$86,000-$88,000	$82,500-$85,500
Net interest expense	$82,984	$166,000-$167,000	$165,000-$166,000
Recurring third party fees & commissions	$12,654	$24,000-$25,000	$24,000-$25,000
Development and Redevelopment spend	$57,972	+/-$140,000	+/-$150,000
Acquisitions	$170,908	+/-$170,000	+/-$170,000
Cap rate (weighted average)	5.6%	+/- 5.6%	+/- 5.6%
Dispositions	$177,604	+/-$190,000	+/-$210,000
Cap rate (weighted average)(5)	3.0%	+/- 3.3%	+/- 3.7%
Forward ATM settlement (gross)	$64,768	+/-$65,000	+/-$65,000
Share Repurchase settlement (gross)	$75,393	+/-$75,000	$0

Reconcilliation of Net Income to Earnings Guidance (per diluted share):	Full Year 2022
	Low			High
Net income attributable to common stockholders	$	2.60			2.64
Adjustments to reconcile net income to Nareit FFO:
Depreciation and amortization		2.00			2.00
Gain on sale of real estate		(0.69	)		(0.69	)
Exchangeable operating partnership units		0.01			0.01
Nareit Funds From Operations	$	3.92			3.96
Adjustments to reconcile Nareit FFO to Core Operating Earnings:
Straight line rent, net		(0.10	)		(0.10	)
Above/below market rent amortization, net		(0.12	)		(0.12	)
Debt premium/discount amortization		0.00			0.00
Core Operating Earnings	$	3.70			3.74

(1)Core Operating Earnings excludes certain non-cash items, including straight-line rents, above/below market rent amortization, and amortization of mark-to-market debt, as well as transaction related income/expenses and debt extinguishment charges.

(2)Represents the expected collection in 2022 of revenues in the Same Property portfolio reserved in 2020 and 2021; included in Uncollectible Lease Income.

(3)Includes above and below market rent amortization, straight-line rents, and amortization of mark-to-market debt adjustments.

(4)Positive impact on Uncollectible Straight-Line Rent from the conversion of cash basis tenants back to an accrual basis of accounting, only included in guidance as tenants are converted.

(5)Weighted average cap rates exclude non-income producing assets; 2022 average cap rates include the sale of Costa Verde in 1Q22 ($125M at a ~1.5% cap rate).

Forward-looking statements involve risks, uncertainties and assumptions. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements. Please refer to the documents filed by Regency Centers Corporation with the SEC, specifically the most recent reports on forms 10K and 10Q, which identify important risk factors which could cause actual results to differ from those contained in the forward-looking statements.

Supplemental Information 44

Glossary of Terms

June 30, 2022

Core Operating Earnings: An additional performance measure used by Regency because the computation of Nareit FFO includes certain non-comparable items that affect the Company's period-over-period performance. Core Operating Earnings excludes from Nareit FFO: (i) transaction related income or expenses (ii) gains or losses from the early extinguishment of debt; (iii) certain non-cash components of earnings derived from above and below market rent amortization, straight-line rents, and amortization of mark-to-market debt adjustments; and (iv) other amounts as they occur. The Company provides a reconciliation of Net Income Attributable to Common Stockholders to Nareit FFO to Core Operating Earnings.

Development Completion: A Property in Development is deemed complete upon the earlier of (i) 90% of total estimated net development costs have been incurred and percent leased equals or exceeds 95%, or (ii) the property features at least two years of anchor operations. Once deemed complete, the property is termed a Retail Operating Property the following calendar year.

Fixed Charge Coverage Ratio: Operating EBITDAre divided by the sum of the gross interest and scheduled mortgage principal paid to our lenders.

Nareit Funds From Operations (Nareit FFO): Nareit FFO is a commonly used measure of REIT performance, which the National Association of Real Estate Investment Trusts (“Nareit”) defines as net income, computed in accordance with GAAP, excluding gains on sales and impairments of real estate, net of tax, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Regency computes Nareit FFO for all periods presented in accordance with Nareit's definition. Many companies use different depreciable lives and methods, and real estate values historically fluctuate with market conditions. Since Nareit FFO excludes depreciation and amortization and gains on sale and impairments of real estate, it provides a performance measure that, when compared year over year, reflects the impact on operations from trends in percent leased, rental rates, operating costs, acquisition and development activities, and financing costs. This provides a perspective of the Company’s financial performance not immediately apparent from net income determined in accordance with GAAP. Thus, Nareit FFO is a supplemental non-GAAP financial measure of the Company's operating performance, which does not represent cash generated from operating activities in accordance with GAAP; and, therefore, should not be considered a substitute measure of cash flows from operations. The Company provides a reconciliation of Net Income Attributable to Common Stockholders to Nareit FFO.

Net Operating Income (NOI): The sum of base rent, percentage rent, recoveries from tenants, other lease income, and other property income, less operating and maintenance expenses, real estate taxes, ground rent, and uncollectible lease income. NOI excludes straight-line rental income and expense, above and below market rent and ground rent amortization, tenant lease inducement amortization, and other fees. The Company also provides disclosure of NOI excluding termination fees, which excludes both termination fee income and expenses.

Non-Same Property: During either calendar year period being compared, a property acquired, sold, a Property in Development, a Development Completion, or a property under, or being positioned for, significant redevelopment that distorts comparability between periods. Non-retail properties and corporate activities, including the captive insurance program, are part of Non-Same Property. Please refer to the footnote on Property Summary Report for Non-Same Property detail.

Operating EBITDAre: Nareit EBITDAre is a measure of REIT performance, which the Nareit defines as net income, computed in accordance with GAAP, excluding (i) interest expense; (ii) income tax expense; (iii) depreciation and amortization; (iv) gains on sales of real estate; (v) impairments of real estate; and (vi) adjustments to reflect the Company’s share of unconsolidated partnerships and joint ventures. Operating EBITDAre excludes from Nareit EBITDAre certain non-cash components of earnings derived from above and below market rent amortization and straight-line rents. The Company provides a reconciliation of Net Income to Nareit EBITDAre to Operating EBITDAre.

Property In Development: Properties in various stages of ground-up development.

Property In Redevelopment: Retail Operating Properties under redevelopment or being positioned for redevelopment. Unless otherwise indicated, a Property in Redevelopment is included in the Same Property pool.

Retail Operating Property: Any retail property not termed a Property In Development. A retail property is any property where the majority of the income is generated from retail uses.

Redevelopment Completion: A Property in Redevelopment is deemed complete upon the earlier of (i) 90% of total estimated project costs have been incurred and percent leased equals or exceeds 95% for the company owned GLA related to the project, or (ii) the property features at least two years of anchor operations, if applicable.

Same Property: Retail Operating Properties that were owned and operated for the entirety of both calendar year periods being compared. This term excludes Property in Development, prior year Development Completions, and Non-Same Properties. Property in Redevelopment is included unless otherwise indicated.

Supplemental Information 45

EX-99.3

Exhibit 99.3

 

SECOND QUARTER 2022 Fixed Income Supplemental Powers Ferry Square Atlanta, GA Crossroads Commons Denver, CO Baybrook East Houston, TX Blakeney Charlotte, NC The Pruneyard San Jose, CA. Mellody Farm Chicago, IL Regency Centers.

 

Highlights Second Quarter 2022 Reported Nareit FFO of $1.00 per diluted share and Core Operating Earnings of $0.94 per diluted share for the second quarter Raised 2022 Nareit FFO guidance to a range of $3.92 to $3.96 per diluted share Reported that Same Property NOI excluding lease termination fees and prior year collections increased 3.1% during the second quarter over the same period a year ago Increased Same Property percent leased by 160 basis points to 94.5%, and Same Property small shop percent leased by 220 basis points to 91.0%, compared to June 30, 2021 Executed 1.3 million square feet of comparable new and renewal leases during the second quarter at a blended cash rent spread of +8.8% Started approximately $50 million of new development and redevelopment projects and completed nearly $12 million of redevelopment projects during the second quarter, each at Regency’s share Net project costs for Regency’s in-process development and redevelopment projects were approximately $390 million as of June 30, 2022 Completed property acquisitions of $130 million and property dispositions of $40 million during the second quarter, each at Regency’s share Repurchased approximately 1.3 million shares of common stock at an average price of $58.25 per share, for $75.4 million Issued the Company’s fifth annual Corporate Responsibility Report on May 24, 2022 Achieved pro-rata net debt-to-operating EBITDAre of 5.0x as of June 30, 2022 Subsequent to quarter end, on August 2, 2022, Regency’s Board of Directors (the “Board”) declared a quarterly cash dividend on the Company’s common stock of $0.625 per share 2

 

Credit Ratings & Select Ratios Credit Ratings Agency Credit Rating Outlook Last Review Date S&P BBB+ Stable 4/14/22 Moody's Baa1 Stable 4/18/22 i. For a complete listing of all Debt Covenants related to the Company’s Senior Unsecured Notes, as well as definitions of the above terms, please refer to the Company’s filings with the Securities and Exchange Commission. ii. Current period debt covenants are finalized and submitted after the Company’s most recent Form 10-Q or Form 10-K filing. 3 Unsecured Public Debt Covenants Required 6/30/2022 3/31/2022 12/31/2021 9/30/2021 Fair Market Value Calculation Method Covenants(i)(ii) Total Consolidated Debt to Total Consolidated Assets ≤ 65% 26% 26% 27% 27% Secured Consolidated Debt to Total Consolidated Assets ≤ 40% 3% 3% 3% 4% Consolidated Income for Debt Service to Consolidated Debt Service ≥ 1.5x 5.8x 5.6x 5.5x 5.1x Unencumbered Consolidated Assets to Unsecured Consolidated Debt >150% 397% 394% 388% 383%

 

Capital Structure & Liquidity Profile Capital Structure (% of total capitalization) Debt Composition Pro-Rata Secured vs. Unsecured 4 $14.5 Billion Total Capitalization 23% 1% 76% Secured Fixed Rate Secured Variable Rate Unsecured Debt - Bonds 23% 77% Secured Unsecured Liquidity Profile ($ millions) Unsecured Credit Facility - Committed 1,250 Balance Outstanding - Undrawn Portion of Credit Facility 1,250 Cash, Cash Equivalents & marketable Securities 121 Total Liquidity 1,371 Equity 70% Unsecured Debt - Bonds 23% Unconsolidated Debt - Secured 4% Consolidated Debt - Secured 3%

 

A Well-Laddered Maturity Schedule Debt Maturity Profile as of June 30, 2022 Regency aims to have < 15% of total debt maturing in any given year Wtd Avg Interest Rate: 3.8% Wtd Avg Yrs to Maturity: 8+ Years Total Pro Rata Debt: $4.3B 5 $31 2022 $160 2023 $365 2024 $336 2025 $329 2026 $677 2027 $339 2028 $447 2029 $672 2030 $139 2031 $2 2032 - 2046 $425 2047 $300 2049 15% of Total Debt Unsecured Debt - Bonds Consolidated Debt - Secured Unconsolidated Debt – Secured

 

Follow us Second Quarter 2022 Earnings Conference Call Friday, August 5th, 2022 Time: 10:00 AM ET Dial#: 877-407-0789 or 201 689-8562 Webcast: investors.regencycenters.com Contact Information: Christy McElroy Senior Vice President, Capital Markets 904-598-7616 ChristyMcElroy@RegencyCenters.com Forward-Looking Statements Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to Regency’s future events, developments, or financial or operational performance or results, are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as “may,” “will,” “should,” “expect,” “estimate,” “believe,” “intend,” “forecast,” “anticipate,” “guidance,” and other similar language. However, the absence of these or similar words or expressions does not mean a statement is not forward-looking. While we believe these forward-looking statements are reasonable when made, forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although we believe the expectations reflected in any forwardlooking statements are based on reasonable assumptions, we can give no assurance these expectations will be attained, and it is possible actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Our operations are subject to a number of risks and uncertainties including, but not limited to, those Risk factors described in our SEC filings. When considering an investment in our securities, you should carefully read and consider these risks, together with all other information in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our other filings and submissions to the SEC. If any of the events described in the risk factors actually occur, our business, financial condition or operating results, as well as the market price of our securities, could be materially adversely affected. Forwardlooking statements are only as of the date they are made, and Regency undertakes no duty to update its forward-looking statements except as required by law. These risks and events include, without limitation: Risks Related to Pandemics or other Health Crises Pandemics or other health crises, such as the COVID-19 pandemic, may adversely affect our tenants’ financial condition, the profitability of our properties, and our access to the capital markets and could have a material adverse effect on our business, results of operations, cash flows and financial condition. Risk Factors Related to Operating Retail-Based Shopping Centers Economic and market conditions may adversely affect the retail industry and consequently reduce our revenues and cash flow, and increase our operating expenses. Shifts in retail trends, sales, and delivery methods between brick and mortar stores, e-commerce, home delivery, and curbside pickup may adversely impact our revenues and cash flows. Changing economic and retail market conditions in geographic areas where our properties are concentrated may reduce our revenues and cash flow. In addition, labor challenges and supply delays and shortages due to a variety of macroeconomic factors, including inflationary pressures, could affect the retail industry. Our success depends on the continued presence and success of our “anchor” tenants. A significant percentage of our revenues are derived from smaller “shop space” tenants and our net income may be adversely impacted if our smaller shop tenants are not successful. We may be unable to collect balances due from tenants in bankruptcy. Many of our costs and expenses associated with operating our properties may remain constant or increase, even if our lease income decreases. Compliance with the Americans with Disabilities Act and fire, safety and other regulations may have a negative effect on us. Risk Factors Related to Real Estate Investments Our real estate assets may decline in value and be subject to impairment losses which may reduce our net income. We face risks associated with development, redevelopment and expansion of properties. We face risks associated with the development of mixed-use commercial properties. We face risks associated with the acquisition of properties. We may be unable to sell properties when desired because of market conditions. Changes in tax laws could impact our acquisition or disposition of real estate. Risk Factors Related to the Environment Affecting Our Properties Climate change may adversely impact our properties directly, and may lead to additional compliance obligations and costs as well as additional taxes and fees. Geographic concentration of our properties makes our business more vulnerable to natural disasters, severe weather conditions and climate change. Costs of environmental remediation may impact our financial performance and reduce our cash flow. Risk Factors Related to Corporate Matters An increased focus on metrics and reporting relating to environmental, social, and governance (“ESG”) factors may impose additional costs and expose us to new risks. An uninsured loss or a loss that exceeds the insurance coverage on our properties may subject us to loss of capital and revenue on those properties. Failure to attract and retain key personnel may adversely affect our business and operations. The unauthorized access, use, theft or destruction of tenant or employee personal, financial or other data or of Regency’s proprietary or confidential information stored in our information systems or by third parties on our behalf could impact our reputation and brand and expose us to potential liability and loss of revenues. Risk Factors Related to Our Partnerships and Joint Ventures We do not have voting control over all of the properties owned in our co-investment partnerships and joint ventures, so we are unable to ensure that our objectives will be pursued. The termination of our partnerships may adversely affect our cash flow, operating results, and our ability to make distributions to stock and unit holders. Risk Factors Related to Funding Strategies and Capital Structure Our ability to sell properties and fund acquisitions and developments may be adversely impacted by higher market capitalization rates and lower NOI at our properties which may dilute earnings. We depend on external sources of capital, which may not be available in the future on favorable terms or at all. Our debt financing may adversely affect our business and financial condition. Covenants in our debt agreements may restrict our operating activities and adversely affect our financial condition. Increases in interest rates would cause our borrowing costs to rise and negatively impact our results of operations. Hedging activity may expose us to risks, including the risks that a counterparty will not perform and that the hedge will not yield the economic benefits we anticipate, which may adversely affect us. The interest rates on our Unsecured Credit facilities as well as on our variable rate mortgages and interest rate swaps might change based on changes to the method in which LIBOR or its replacement rate is determined. Risk Factors Related to the Market Price for Our Securities Changes in economic and market conditions may adversely affect the market price of our securities. There is no assurance that we will continue to pay dividends at historical rates. Risk Factors Relating to the Company’s Qualification as a REIT If the Company fails to qualify as a REIT for federal income tax purposes, it would be subject to federal income tax at regular corporate rates. Dividends paid by REITs generally do not qualify for reduced tax rates. Certain foreign stockholders may be subject to U.S. federal income tax on gain recognized on a disposition of our common stock if we do not qualify as a “domestically controlled” REIT. Legislative or other actions affecting REITs may have a negative effect on us. Complying with REIT requirements may limit our ability to hedge effectively and may cause us to incur tax liabilities. Risk Factors Related to the Company’s Common Stock Restrictions on the ownership of the Company’s capital stock to preserve its REIT status may delay or prevent a change in control. The issuance of the Company's capital stock may delay or prevent a change in control. Ownership in the Company may be diluted in the future. Non-GAAP disclosure We believe these non-GAAP measures provide useful information to our Board of Directors, management and investors regarding certain trends relating to our financial condition and results of operations. Our management uses these non-GAAP measures to compare our performance to that of prior periods for trend analyses, purposes of determining management incentive compensation and budgeting, forecasting and planning purposes. We do not consider non-GAAP measures an alternative to financial measures determined in accordance with GAAP, rather they supplement GAAP measures by providing additional information we believe to be useful to our shareholders. The principal limitation of these non-GAAP financial measures is they may exclude significant expense and income items that are required by GAAP to be recognized in our consolidated financial statements. In addition, they reflect the exercise of management’s judgment about which expense and income items are excluded or included in determining these non-GAAP financial measures. In order to compensate for these limitations, reconciliations of the non-GAAP financial measures we use to their most directly comparable GAAP measures are provided. Non-GAAP financial measures should not be relied upon in evaluating the financial condition, results of operations or future prospects of the Company. Nareit FFO is a commonly used measure of REIT performance, which the National Association of Real Estate Investment Trusts (“Nareit”) defines as net income, computed in accordance with GAAP, excluding gains on sale and impairments of real estate, net of tax, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Regency computes Nareit FFO for all periods presented in accordance with Nareit's definition. Since Nareit FFO excludes depreciation and amortization and gains on sales and impairments of real estate, it provides a performance measure that, when compared year over year, reflects the impact on operations from trends in occupancy rates, rental rates, operating costs, acquisition and development activities, and financing costs. This provides a perspective of the Company’s financial performance not immediately apparent from net income determined in accordance with GAAP. Thus, Nareit FFO is a supplemental non-GAAP financial measure of the Company's operating performance, which does not represent cash generated from operating activities in accordance with GAAP; and, therefore, should not be considered a substitute measure of cash flows from operations. The Company provides a reconciliation of Net Income Attributable to Common Stockholders to Nareit FFO. Core Operating Earnings is an additional performance measure that excludes from Nareit FFO: (i) transaction related income or expenses (ii) gains or losses from the early extinguishment of debt; (iii) certain non-cash components of earnings derived from above and below market rent amortization, straight-line rents, and amortization of mark-to- market of debt adjustments; and (iv) other amounts as they occur. The Company provides a reconciliation of Net Income to Nareit FFO to Core Operating Earnings. 6

XML

Document and Entity Information	Aug. 04, 2022
Document Information [Line Items]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Aug. 04, 2022
Entity Registrant Name	REGENCY CENTERS CORPORATION
Entity Central Index Key	0000910606
Entity File Number	001-12298
Entity Incorporation State Country Code	FL
Entity Tax Identification Number	59-3191743
Entity Address, Address Line One	One Independent Drive
Entity Address, Address Line Two	Suite 114
Entity Address, City or Town	Jacksonville
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32202
City Area Code	904
Local Phone Number	598-7000
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Security 12b Title	Common Stock, $.01 par value
Trading Symbol	REG
Security Exchange Name	NASDAQ
Partnership Interest [Member]
Document Information [Line Items]
Entity Registrant Name	REGENCY CENTERS, L.P.
Entity Central Index Key	0001066247
Entity File Number	0-24763
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	59-3429602
Entity Address, Address Line One	One Independent Drive
Entity Address, Address Line Two	Suite 114
Entity Address, City or Town	Jacksonville
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32202
City Area Code	904
Local Phone Number	598-7000
Entity Emerging Growth Company	false