a5948086ex992.htm

Exhibit 99.2

March 31, 2009 Supplemental Financial & Operating Statistics

Table of Contents Section Page Company Overview 1 Quarterly & Year-to-Date Financial Results Consolidated Statements of Income 2 Income Statement Detail 3 Earnings Per Common Share 4 Consolidated Balance Sheets 5 Balance Sheet Detail 6 Calculation of Funds from Operations and Funds Available for Distribution 7 Selected Financial and Operating Ratios 8 Quarterly & Year-to-Date Operating Information Same Properties Analysis 9 Leasing Activity Analysis 10 Current Development Projects 11 Current Redevelopment Projects 12 Market Capitalization Information Summary of Outstanding Debt 13 Loan Maturity Summary 14 Market Capitalization Information 15 Common Stock Performance 15 Portfolio Information Property Summary 16-18 Geographic Diversification 19 Anchor, Non-Anchor Tenant Mix 19 National, Regional, Local Tenant Mix 19 Major Tenant Exposure 20 Summary of Expiring GLA 21 Joint Venture Information Joint Ventures Contribution to Funds from Operations 22 Joint Ventures Combining Balance Sheets 23 Summary of Joint Venture Debt 24 Investor Information 25

COMPANY OVERVIEW Ramco-Gershenson Properties Trust (NYSE:RPT) is a self-administered and self- managed real estate investment trust primarily engaged in the business of owning, developing, acquiring, managing and leasing community shopping centers located primarily in the Midwestern, Mid-Atlantic and Southeastern United States. At March 31, 2009, the Company owned interests in 89 shopping centers with approximately 19.8 million square feet of gross leasable area located in Michigan, Florida, Georgia, Ohio, Wisconsin, Indiana, New Jersey, Maryland, North Carolina, South Carolina, Virginia, Tennessee and Illinois. The Company’s properties consist of 88 community centers and one regional mall. Ramco-Gershenson has a proven track record of generating growth through the management and redevelopment of its shopping center portfolio. In an effort to maximize the potential of each asset, the Company constantly reevaluates the shopping center’s position within its respective market. This effort is part of an overall approach that allows management to anticipate changes in retailing trends and tenant needs; and proactively implement solutions to boost the performance and value of the center namely through enhancement in the tenant mix, improvement of existing rental rates and occupancy growth. Ramco-Gershenson generates additional growth through the construction of new shopping centers. The Company is focused on developing community shopping centers within metropolitan markets where it currently operates or where it believes demand for additional shopping centers exist. Throughout the Company’s history, management’s experience and long-standing relationships with tenants, has allowed it to capitalize on attractive development opportunities. The Company also remains committed to the acquisition of well-located shopping centers, under appropriate market conditions, that may lend themselves to further improvements, either through strategic joint ventures or on-balance sheet transactions. Ramco-Gershenson seeks to attract investors based on the quality and performance of its assets and the experience of its management team. The Company expects to build shareholder value through the proactive management of its assets as well as the selective development and acquisition of shopping centers. The Company is listed on the New York Stock Exchange (NYSE:RPT) and is headquartered in Farmington Hills, Michigan. Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 1

Consolidated Statements of Income (in thousands) Three Months Ended March 31, Increase Percent 2009 2008 (Decrease) Change Revenues: Minimum rents $ 21,379 $ 23,020 $ (1,641) (7.1) % Percentage rents 253 364 (111) (30.5) Recoveries from tenants 10,647 11,083 (436) (3.9) Fees and management income (see page 3 for detail) 1,129 1,422 (293) (20.6) Other income (see page 3 for detail) 353 485 (132) (27.2) Total revenues 33,761 36,374 (2,613) (7.2) Expenses: Real estate taxes 4,710 4,847 (137) (2.8) Recoverable operating expenses 6,043 6,582 (539) (8.2) Depreciation and amortization 7,793 7,955 (162) (2.0) Other operating 1,264 1,048 216 20.6 General and administrative 4,085 3,805 280 7.4 Interest expense 8,104 9,779 (1,675) (17.1) Total expenses 31,999 34,016 (2,017) (5.9) Income from continuing operations before gain on sale of real estate assets and earnings from unconsolidated entities 1,762 2,358 (596) (25.3) Gain on sale of real estate assets (see page 3 for detail) 348 10,184 (9,836) (96.6) Earnings from unconsolidated entities (see page 22 for detail) 520 897 (377) (42.0) Income from continuing operations 2,630 13,439 (10,809) (80.4) Discontinued operations: Income from operations -97 (97) (100.0) Income from discontinued operations -97 (97) (100.0) Net Income 2,630 13,536 (10,906) (80.6) Less: Net income attributable to the noncontrolling interest in subsidiaries (380) (2,091) (10,906) 521.6 Net income attributable to RGPT common shareholders $ 2,250 $ 11,445 $ (9,195) (80.3) % Amounts attributable to RGPT common shareholders: Income from continuing operations $ 2,250 $ 11,361 $ (9,111) (80.2) % Income from discontinued operations -84 (84) (100.0) Net Income $ 2,250 $ 11,445 $ (9,195) (80.3) % Property Operating Expense Recovery Ratio 99.0 % 97.0 % 2.0 % Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 2

Income Statement Detail (in thousands) Three Months Ended March 31, Increase Percent 2009 2008 (Decrease) Change Fees and management income: Management fees $ 756 $ 717 39$ 5.4 % Leasing fees 146 101 45 44.6 Development related fees 149 470 (321) (68.3) Other 78 134 (56) (41.8) Fee and management income $ 1,129 $ 1,422 $ (293) (20.6) % Other income: Lease termination income $ 4 $ 105 $ (101) (96.2) % Temporary income 100 159 (59) (37.1) Interest income 166 136 30 22.1 Previous write-off of receivable 12 24 (12) (50.0) Other 71 61 10 16.4 Other income $ 353 $ 485 $ (132) (27.2) % Gain on sale of real estate assets: FFO gain on sales $ 348 $ 423 $ (75) (17.7) % Non-FFO gain on sales -9,761 (9,761) (100.0) Gain on sale of real estate assets $ 348 $ 10,184 $ (9,836) (96.6) % Q1 2009 Supplemental Financial and Operating Statistics Page 3 Ramco-Gershenson Properties Trust (RPT)

Earnings Per Common Share ("EPS" ) (in thousands, except per share data) Three Months Ended March 31, 2009 2008 Numerator: Income from continuing operations before noncontrolling interest 2,630$ 13,439$ Noncontrolling interest in subsidiaries from continuing operations (380) (2,078) Income from continuing operations available to RGPT common shareholders 2,250 11,361 Discontinued operations, net of noncontrolling interest in subsidiaries: Income from operations -84 Net income available to RGPT common shareholders 2,250$ 11,445$ Denominator: Weighted-average common shares for basic EPS 18,609 18,500 Effect of dilutive securities: Options outstanding -12 Weighted-average common shares for diluted EPS 18,609 18,512 Basic EPS: Income from continuing operations attributable to RGPT common shareholders 0.12$ 0.61$ Income from discontinued operations attributable to RGPT common shareholders -0.01 Net income attributable to RGPT common shareholders 0.12$ 0.62$ Diluted EPS: Income from continuing operations attributable to RGPT common shareholders 0.12$ 0.61$ Income from discontinued operations attributable to RGPT common shareholders -0.01 Net income attributable to RGPT common shareholders 0.12$ 0.62$ Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 4

Consolidated Balance Sheets (in thousands) March 31, December 31, 2009 2008 ASSETS Investment in real estate, net (see page 6 for detail) 829,006$ 830,392$ Cash and cash equivalents 7,946 5,295 Restricted cash 5,071 4,891 Accounts receivable, net (see page 6 for detail) 33,288 40,736 Equity investments in and advances to unconsolidated entities (see page 23 for detail) 103,580 95,867 Other assets, net (see page 6 for detail) 35,893 37,345 Total Assets 1,014,784$ 1,014,526$ LIABILITIES AND SHAREHOLDERS' EQUITY Mortgages and notes payable (see page 13 for detail) 665,735$ 662,601$ Accounts payable and accrued expenses 25,960 26,751 Distributions payable 4,951 4,945 Capital lease obligation 7,126 7,191 Total Liabilities 703,772 701,488 SHAREHOLDERS' EQUITY Ramco-Gershenson Properties Trust ("RGPT") shareholders' equity: Common Shares of Beneficial Interest 185 185 Additional paid-in capital 389,730 389,528 Accumulated other comprehensive loss (3,693) (3,851) Cumulative distributions in excess of net income (114,746) (112,671) Total RGPT Shareholders' Equity 271,476 273,191 Noncontrolling interest in subsidiaries 39,536 39,847 Total Shareholders' Equity 311,012 313,038 Total Liabilities and Shareholders' Equity 1,014,784$ 1,014,526$ Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 5

Balance Sheet Detail (in thousands) March 31, December 31, 2009 2008 Investments in Real Estate: Land 144,370$ 144,422$ Buildings and improvements 832,214 813,705 Construction in progress 32,877 46,982 1,009,461 1,005,109 Less: accumulated depreciation (180,455) (174,717) Investments in real estate, net 829,006$ 830,392$ Accounts Receivable: Accounts receivable tenants, net 15,708$ 23,131$ Straight-line rent receivable 17,580 17,605 Accounts receivable, net 33,288$ 40,736$ Other Assets: Leasing costs 39,418$ 38,980$ Intangible assets 5,836 5,836 Deferred financing costs 6,693 6,626 Other 5,963 5,904 57,910 57,346 Less: accumulated amortization (35,775) (34,320) 22,135 23,026 Prepaid expenses and other 12,408 12,967 Proposed development and acquisition costs 1,350 1,352 Other assets, net 35,893$ 37,345$ Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 6

Calculation of Funds from Operations and Funds Available for Distribution (in thousands, except per share amounts) Three Months Ended March 31, 2009 2008 Calculation of Funds from Operations: Net income attributable to RGPT common shareholders 2,250$ 11,445$ Add: Depreciation and amortization expense 9,283 9,415 Noncontrolling interest in partnership 380 2,090 Less: Gain on sale of depreciable real estate -(9,761) Funds from operations available to common shareholders, assuming conversion of OP units 11,913$ 13,189$ Weighted average equivalent shares outstanding, diluted 21,398 21,419 Funds from operations available to RGPT common shareholders, per diluted share 0.56$ 0.62$ Calculation of Funds Available for Distribution: Funds from operations available to RGPT common shareholders 11,913$ 13,189$ Add: Write-off of straight-line rent receivable -177 Less: Straight-line rent (151) (396) Above/below market rents - acquisitions (13) (29) FMV interest adjustment - acquired properties (78) (40) Recurring capital expenditures (non-recoverable) (186) (333) Funds Available for Distribution 11,485$ 12,568$ FAD per share available to RGPT common shareholders 0.54$ 0.59$ Dividend per Common Share 0.2313$ 0.4625$ Payout Ratio - FFO 41.5% 75.1% Payout Ratio - FAD 43.1% 78.8% Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 7

Selected Financial and Operating Ratios Three Months Ended March 31, 2009 2008 EBITDA Calculation: Operating Income Plus Earnings From Unconsolidated Entities $ 2,282 [1] $ 3,255 [2] Add Back: Income From Discontinued Operations -97 Interest Expense 8,104 9,779 Depreciation and Amortization 7,793 7,955 EBITDA 18,179 21,086 Scheduled Principal Payments 1,165 1,175 Preferred Dividends -- Coverage Ratios: Interest Coverage Ratio (EBITDA / Interest Expense) 2.24 2.16 Debt Service Coverage Ratio (EBITDA / Interest Expense + Scheduled Principal Pmts. ) 1.96 1.92 Fixed Charge Coverage Ratio (EBITDA / Interest Expense + Scheduled Principal Pmts. + Pref. Div.) 1.96 1.92 Operating Ratios: NOI 20,262 21,990 Operating Margin (NOI / Total Rental Revenue) 62.8% 63.8% General & Administrative Expense as a Percentage of Total Rental Revenues Under Management [3]: Revenue From REIT Owned Properties $ 32,632 $ 34,952 Revenue From Joint Venture Properties 25,485 24,512 Revenue From Non-REIT Properties Under Management Contract 897 1,159 Total Rental Revenues Under Management $ 59,014 $ 60,623 General and Administrative Expense $ 4,085 $ 3,805 General and Administrative Expense / Total Rental Revenues Under Management 6.92% 6.28% [1] Q1 2009 excludes $348 related to the gain on sale of real estate from continuing operations. Including the gain would positively impact the interest coverage ratio by 0.05 for the three months ended 03/31/09. [2] Q1 2008 excludes $10,184 related to the gain on sale of real estate from continuing operations. Including the gain would positively impact the interest coverage ratio by 1.04 for the three months ended 03/31/08. [3] General & administrative expense shown as a percentage of rental revenues under management which includes base rent, recoveries and other income from wholly owned properties, joint venture properties, and properties that are under management contract. Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 8

Same Properties Analysis (in thousands) Three Months Ended March 31, 2009 2008 % Change Number of Properties [1] 49 49 0.0% Occupancy 93.9% 93.4% 0.5% REVENUE: Minimum Rents $19,690 $19,557 0.7% Percentage Rent 193 212 -8.9% Recoveries from Tenants 9,921 10,144 -2.2% Other Income 119 179 -33.5% $29,923 $30,092 -0.6% EXPENSES: Real Estate Taxes $4,487 $4,318 3.9% Property Operating and Maintenance 5,107 5,699 -10.4% Other Operating 641 514 24.6% $10,235 $10,531 -2.8% OPERATING INCOME $19,688 $19,561 0.6% Operating Expense Recovery Ratio 103.4% 101.3% 2.1% [1] Excludes joint venture properties. Note: Excludes centers under redevelopment and reflects recovery adjustments to the proper period. Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 9

Leasing Activity Analysis Summary of Expiring Leases: Total Number of Scheduled Lease ExpirationsGross Leasable Area (sq.ft.) Average Base Rent / Sq.Ft ($/sq.ft.) Leases Renewed at Expiration: Number of LeasesGross Leasable Area (sq.ft.) Renewal Base Rent / Sq.Ft. ($/sq.ft.) Previous Base Rent / Sq.Ft. ($/sq.ft.) PSF Increase / (Decrease) % Increase / (Decrease) Leases Currently Month-to-Month or Under Negotiation for Renewal: Number of LeasesGross Leasable Area (sq.ft.) Current Base Rent / Sq.Ft. ($/sq.ft.) Leases Ended at Expiration: Number of LeasesGross Leasable Area (sq.ft.) Base Rent / Sq.Ft. ($/sq.ft.) Three Months Ended March 31, 2009 Non-Anchors Anchors Total 116 17 133 355,934 676,649 1,032,583 $15.57 $6.85 $9.86 67 12 79 194,133 468,698 662,831 $15.98 $8.10 $10.41 $14.88 $7.67 $9.78 $1.09 $0.43 $0.62 7.3% 5.6% 6.4% 19 1 20 55,130 21,786 76,916 $15.12 $3.03 $11.69 30 4 34 106,671 186,165 292,836 $17.07 $5.22 $9.54 19 -19 51,989 -51,989 $14.53 $0.00 $14.53 -12.1% 0.0% 34.3% Lease-Up of Vacant Space: [1] Number of Leases Gross Leasable Area (sq.ft.) Base Rent / Sq.Ft. ($/sq.ft.) % Increase / (Decrease) from Portfolio Average[1] Lease-Up of Vacant Space is rent starts in the first quarter Current Portfolio Average: Portfolio Average Base Rent / Sq.Ft. (as of 3/31/09) $16.54 $8.12 $10.82 Historical Portfolio Averages: Year Ended 12/31/08 Portfolio Average Base Rent / Sq.Ft. $16.51 $8.11 $10.82 Year Ended 12/31/07 Portfolio Average Base Rent / Sq.Ft. $16.05 $7.90 $10.61 Year Ended 12/31/06 Portfolio Average Base Rent / Sq.Ft. $15.10 $7.67 $10.08 Year Ended 12/31/05 Portfolio Average Base Rent / Sq.Ft. $14.57 $7.21 $9.55 Year Ended 12/31/04 Portfolio Average Base Rent / Sq.Ft. $13.70 $6.61 $8.83 Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 10

Development Projects (in millions) Estimated Additional Costs RPT Projected Stabilized Projected Ownership Stabilization Return on Stabilized Projected Cost to 4/1/09 -Property/Location Project Description % Date Cost NOI Cost Date 12/31/09 2010 2011 2012 Current Development Projects On-Balance Sheet Assets Northpointe Town Center - Jackson, MI 200,000 SF of retail and outlots. 100% Q4 2012 9.0% $3.1 $34.7 $1.1 $0.1 $0.4 $9.3 $23.8 Total On-Balance Sheet Assets 9.0% [1] $3.1 $34.7 $1.1 $0.1 $0.4 $9.3 $23.8 Off-Balance Sheet Assets Hartland Towne Square - Hartland Twp., MI Phase 1 - sale to Meijer for 192,000 SF building, 12,000 20% Q4 2010 8.6% $0.5 $5.4 $2.0 $0.7 $2.7 $0.0 $0.0 SF of retail and outlot building. Future phases. 20% $17.5 $17.5 8.6% [2] $0.5 $22.9 $19.4 $0.7 $2.7 $0.0 $0.0 Total Off-Balance Sheet Assets 8.6% [1][2] $0.5 $22.9 $19.4 $0.7 $2.7 $0.0 $0.0 RPT Share of Total Off-Balance Sheet Assets 8.6% [1][2] $0.1 $4.6 $3.9 $0.1 $0.5 $0.0 $0.0 Proposed Off-Balance Sheet Assets The Town Center at Aquia - Stafford, VA Phase 1 - 114,340 SF of the mixed-use project. 20% Q4 2009 8.5% $2.2 $26.0 $20.9 [3] $0.7 $4.1 $0.3 $0.0 Future phases - 521,535 SF of the mixed-use project. 20% Q1 2012 8.4% $9.5 $113.0 $19.7 [3] $1.1 $30.3 $55.3 $6.5 Basis in property available for further development. 20% $18.5 $18.5 [3] 8.4% [4] $11.7 $157.4 $59.0 $1.8 $34.4 $55.6 $6.5 Gateway Commons - Lakeland, FL 375,000 SF power center project. 20% Q2 2013 9.1% $5.9 $64.7 $18.3 $1.3 $12.9 $29.1 $3.1 Parkway Shops - Jacksonville, FL 350,000 SF power center project. 20% Q2 2013 8.8% $2.8 $31.4 $11.8 [5] $1.0 $0.3 $9.7 $8.6 Total Proposed Off-Balance Sheet Assets 8.7% [1][4] $20.4 $253.6 $89.1 $4.2 $47.6 $94.4 $18.2 RPT Share of Total Proposed Off-Balance Sheet Assets 8.7% [1][4] $4.1 $50.7 $17.8 $0.8 $9.5 $18.9 $3.6 RPT Share of Current Developments 8.8% [1][2][4] $7.3 $90.0 $22.8 $1.1 $10.5 $28.2 $27.4 [1] Does not include gains on sales held in TRS or fee revenue. [2] Does not include costs associated with the "Future phases" at Hartland Towne Square. [3] Includes pro-rata portion of net book value of existing center and applicable fixed cost allocation. [4] Does not include costs associated with the "Basis in property available for further development" at The Town Center at Aquia. [5] Includes $6,856,775 payable on land purchased under two land contracts due in November 2010. Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 11

Redevelopment Projects (in millions) Estimated Additional Costs RPT Projected Stabilized Projected Ownership Stabilization Return on Stabilized Projected Cost to 4/1/09 -Property/Location Project Description % Date Cost NOI [1] Cost Date 12/31/09 2010 2011 Current Redevelopment Projects [2] On-Balance Sheet Assets West Allis - West Allis, WI Relocating existing tenants, adding Burlington Coat 100% Q1 2010 9.1% $1.1 $12.0 $5.4 $4.1 $2.5 $0.0 Factory, adding retail and upgrading façade. Holcomb - Roswell, GA Adding Studio Movie Grill in 39,668 SF. 100% Q4 2009 12.0% $0.5 $4.0 $0.1 $3.9 $0.0 $0.0 Rivertowne Square - Deerfield Beach, FL Adding a 60,000 SF Beall's Department Store. 100% Q1 2010 12.8% $0.2 $1.8 $0.4 $0.8 $0.5 $0.0 Southbay - Osprey, FL Adding freestanding CVS, relocating tenants, 100% Q3 2009 15.2% $0.1 $1.0 $0.2 $0.8 $0.0 $0.0 retenanting space and demolishing vacated space. Total On-Balance Sheet Assets 10.4% $1.9 $18.7 $6.1 $9.5 $3.1 $0.0 Off-Balance Sheet Assets Troy Marketplace - Troy, MI Retenanting 97,000 SF Home Expo with LA Fitness 30% Q4 2010 20.7% $2.1 $9.9 $5.4 $0.6 $3.9 $0.0 (which has opened) and additional mid-box uses, constructing new outlot building. The Shops at Old Orchard - W. Bloomfield, MI Adding 36,000 SF specialty grocer Plum Market as 30% Q2 2010 11.7% $1.2 $9.8 $5.0 $3.7 $1.2 $0.0 well as other upscale tenants; plus façade and structural improvements. Marketplace of Delray - Delray Beach, FL Adding Ross Dress For Less in 27,684 SF and 30% Q4 2009 14.3% $0.6 $4.1 $0.0 $4.1 $0.0 $0.0 retenanting retail space. Collins Pointe Plaza - Cartersville, GA Retenanting Winn-Dixie, adding freestanding CVS 20% Q1 2010 15.1% $0.7 $4.7 $0.1 $3.4 $1.2 $0.0 and small-shop retail space. Total Off-Balance Sheet Assets 15.8% $4.5 $28.6 $10.5 $11.8 $6.3 $0.0 RPT Share of Total Off-Balance Sheet Assets 15.8% [3] $1.3 $8.1 $3.1 $3.2 $1.8 $0.0 RPT Share of Current Redevelopments 12.0% [3] $3.2 $26.8 $9.2 $12.7 $4.8 $0.0 RPT Ownership Completed Projects % Clinton Valley - Sterling Heights, MI Adding a 50,852 SF Hobby Lobby. 100% Market Plaza - Glen Ellyn, IL Adding a 19,849 SF Staples. 20% Future Projects Lakeshore Marketplace - Norton Shores, MI Retenant with mid-box use a portion of Elder100% Beerman space. Develop new outlots. Sunshine Plaza - Tamarac, FL Taking back 20,000 SF of anchor space to create new 100% mid-box opportunity. Pelican Plaza - Sarasota, FL Adding 20,000 SF specialty grocer. 100% Rossford Pointe - Rossford, OH Opportunity to create additional mid-box retailer. 100% The Shops on Lane Avenue - Columbus, OH Expand existing grocery to prototype size. 20% [1] Represents incremental change in revenue. [2] Current redevelopments does not include The Town Center at Aquia, which is considered a development project by the Company. Refer to page 11 for details on The Town Center at Aquia. [3] Does not include fees earned by RPT.Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 12

Summary of Outstanding Debt 03/31/09 Percent of Total Lender or Servicer Indebtedness Balance Stated Months at Interest Maturity To 3/31/2009 Rate Date Maturity Fixed Rate Debt West Oaks II/Spring Meadows Promenade at Pleasant Hill Publix at River Crossing Parkway Shops Parkway Shops Unsecured Term Loan Facility * Madison Shopping Center Lakeshore Marketplace Sunshine Plaza Shopping Center Coral Creek The Crossroads at Royal Palm East Town Plaza Centre at Woodstock Kentwood Towne Center Lantana Plaza Shopping Center Auburn Hills Crossroads Shopping Center Jackson West West Oaks I New Towne Plaza Hoover Eleven River City Marketplace Hoover Eleven Junior Subordinated Note ** Subtotal Fixed Rate Debt Variable Rate Mortgages Gaines Marketplace Beacon Square Subtotal Variable Rate Mortgages Variable Rate Secured Facility Secured Revolving Credit Facility - Aquia Subtotal Variable Rate Secured Facilities Subtotal Variable Rate Mortgages & Secured Facilities Variable Rate Unsecured Facility Unsecured Revolving Credit Facility Subtotal Variable Rate Unsecured Facilities Subtotal Variable Rate Debt Total debt Travelers Insurance Principal Life Jackson National Life Ins Co. St. Johns land contract River City Signature land contract KeyBank, as agent LaSalle Bank N.A. Wells Fargo/Midland Nationwide Life KeyBank L.J. Melody & Co./Salomon Citigroup Global Markets Wachovia Nationwide Life Key Bank Citigroup Global Markets Citigroup Global Markets KeyBank KeyBank Deutsche Bank Canada Life/GMAC JPMorgan Chase Bank, N.A. Canada Life/GMAC The Bank of New York Trust Company Huntington Bank Huntington Bank 3.51% $ 1.96% 0.49% 0.70% 0.33% 15.02% 1.42% 2.22% 1.71% 1.42% 1.70% 1.67% 0.68% 1.41% 1.50% 1.10% 3.83% 2.58% 4.10% 2.97% 0.90% 16.52% 0.33% 4.22% 23,393,698 13,038,577 3,250,328 4,690,000 2,166,775 100,000,000 9,480,951 14,752,103 11,389,395 9,469,375 11,298,706 11,100,355 4,537,083 9,368,354 9,988,813 7,323,677 25,509,863 17,180,000 27,300,000 19,800,000 6,018,047 110,000,000 2,214,352 28,125,000 72.31% $ 481,395,453 1.12% $ 7,459,510 1.11% 7,380,517 7.0500% 8.0900% 6.6700% 7.0000% 6.0000% 4.5949% 7.5080% 7.6470% 7.3500% 6.7800% 6.5000% 5.4500% 6.9100% 5.7400% 4.7600% 5.3800% 5.3800% 5.2000% 5.2000% 5.0910% 7.6250% 5.4355% 7.2000% 7.8700% 5.7868% 1.9969% 3.3069% 2.23% $ 14,840,027 2.6484% KeyBank 6.01% $ 40,000,000 3.8100% 6.01% $ 40,000,000 3.8100% 8.24% $ 54,840,027 3.4957% KeyBank, as agent 19.45% $ 129,500,000 1.9051% 19.45% $ 129,500,000 1.9051% 27.69% $ 184,340,027 2.3783% 100.00% $ 665,735,479 4.8430% Dec-09 8Sep-10 17Oct-10 19Nov-10 20Nov-10 20Dec-10 21May-11 25Aug-11 28May-12 38Jul-12 40Aug-12 41Jul-13 52Jul-13 52Jul-13 52Aug-13 53May-14 62May-14 62Nov-15 80Nov-15 80Dec-15 81Feb-16 83Apr-17 97May-18 111Jan-38 35172Jun-09 Nov-09 Dec-09 7Dec-09 854* Effectively converted to fixed rate through swap agreements. ** Fixed rate until January 30, 2013, and then at LIBOR plus 3.30%. Supplemental Financial and Operating Statistics Q1 2009Ramco-Gershenson Properties Trust (RPT) Page 13

Cumulative Scheduled Total Percentage Percentage Amortization Scheduled Scheduled of Debt of Debt Year Payments Maturities Maturities Maturing Maturing Loan Maturities Split between Scheduled Amortization and Scheduled Maturities 03/31/09 2009 $ 3,974,313 $ 206,864,757 $ 210,839,069 31.67% 31.67% 2010 4,013,811 122,565,995 126,579,807 19.01% 50.68% 2011 4,599,918 23,332,219 27,932,137 4.20% 54.88% 2012 4,130,892 29,879,687 34,010,579 5.11% 59.99% 2013 3,363,353 30,121,368 33,484,721 5.03% 65.02% 2014 2,505,331 29,676,361 32,181,691 4.83% 69.85% 2015 2,323,334 59,457,889 61,781,223 9.28% 79.13% 2016 382,038 -382,038 0.06% 79.19% 2017 310,621 110,000,000 110,310,621 16.57% 95.76% 2018 108,593 -108,593 0.02% 95.78% 2019 + -28,125,000 28,125,000 4.22% 100.00% Totals $ 25,712,204 $ 640,023,275 $ 665,735,479 Note: Scheduled maturities in 2009 includes $129,500,000 which represents the balance of the Unsecured Revolving Credit Facility drawn as of March 31, 2009 due at maturity in December 2009, and scheduled maturities in 2010 includes $100,000,000 which represents the balance of the Unsecured Term Loan Facility due at maturity in December 2010. The Unsecured Revolving Credit Facility can be extended to December 2010. Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q1 2009 Page 14

Market Capitalization Information 03/31/09 Debt: Shares Dollars Percentage Fixed Rate Debt $ 481,395,453 59.79% Variable Rate Debt $ 184,340,027 22.89% Total Debt $ 665,735,479 82.68% Equity: Market price Common Shares and Equivalents REIT Shares $ 6.45 86.50% 18,698,476 $ 120,605,170 14.98% OP Units 13.50% 2,918,574 $ 18,824,802 2.34% Total Common Shares and Equivalents 100.00% 21,617,050 $ 139,429,973 17.32% Total Market Capitalization $ 805,165,452 100.00% Common Stock Performance - 04/01/08 through 03/31/09 Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 15

Operating Property Summary As of March 31, 2009 Total Shopping Center GLA: Company Owned GLA Annualized Base Rent Year Constructed / Anchors: Acquired / Year of NonTotal Non-Ownership NumberLatest Renovation or Company Company Anchor Anchor Property Location % Expansion (1) of UnitsOwned Owned GLA GLA Total Total Leased Occupancy Total PSF Anchors [2] Operating: Florida Coral Creek Shops Coconut Creek, FL 100% 1992/2002/NA 34 42,112 42,112 67,200 109,312 109,312 93,937 85.9% $ 1,421,939 15.14$ Publix Lantana Shopping Center Lantana, FL 100% 1959/1996/2002 22 61,166 61,166 62,444 123,610 123,610 113,968 92.2% $ 1,178,271 10.34$ Publix Naples Towne Centre Naples, FL 100% 1982/1996/2003 14 32,680 102,027 134,707 32,680 167,387 134,707 126,258 93.7% $ 761,946 6.03$ Goodwill [3], Save-A-Lot, Bealls Pelican Plaza Sarasota, FL 100% 1983/1997/NA 25 35,768 35,768 54,054 89,822 89,822 79,912 89.0% $ 873,883 10.94$ Linens 'N Things [6] River City Marketplace Jacksonville, FL 100% 2005/2005/NA 70 342,501 323,907 666,408 221,448 887,856 545,355 522,796 95.9% $ 8,181,070 15.65$ Wal-Mart [3], Lowe's[3], Bed Bath & Beyond, Best Buy, Gander Mountain Michaels, OfficeMax, PETsMART, Ross Dress For Less, Wallace Theaters, Ashley Furniture HomeStore River Crossing Centre New Port Richey, FL 100% 1998/2003/NA 16 37,888 37,888 24,150 62,038 62,038 62,038 100.0% $ 743,837 11.99$ Publix Sunshine Plaza Tamarac, FL 100% 1972/1996/2001 28 146,409 146,409 89,317 235,726 235,726 230,012 97.6% $ 2,034,834 8.85$ Publix, Old Time Pottery The Crossroads Royal Palm Beach, FL 100% 1988/2002/NA 35 42,112 42,112 77,980 120,092 120,092 104,600 87.1% $ 1,590,629 15.21$ Publix Village Lakes Shopping Center Land O' Lakes, FL 100% 1987/1997/NA 24 125,141 125,141 61,355 186,496 186,496 179,199 96.1% $ 1,085,727 6.06$ Sweet Bay, Wal-Mart Total / Average 268 375,181 916,530 1,291,711 690,628 1,982,339 1,607,158 1,512,720 94.1% $ 17,872,137 11.81$ Georgia Centre at Woodstock Woodstock, GA 100% 1997/2004/NA 14 51,420 51,420 35,328 86,748 86,748 75,660 87.2% $ 873,002 $ 11.54 Publix Conyers Crossing Conyers, GA 100% 1978/1998/NA 15 138,915 138,915 31,560 170,475 170,475 170,475 100.0% $ 976,973 $ 5.73 Burlington Coat Factory, Hobby Lobby Horizon Village Suwanee, GA 100% 1996/2002/NA 22 47,955 47,955 49,046 97,001 97,001 82,486 85.0% $ 869,415 $ 10.54 Publix [4] Mays Crossing Stockbridge, GA 100% 1984/1997/NA 20 100,244 100,244 37,040 137,284 137,284 128,384 93.5% $ 818,512 $ 6.38 ApplianceSmart Factory Outlet, Big Lots, Dollar Tree Promenade at Pleasant Hill Duluth, GA 100% 1993/2004/NA 34 199,555 199,555 82,076 281,631 281,631 254,155 90.2% $ 1,907,244 $ 7.50 Farmers Home Furniture, Old Time Pottery, Publix Total / Average 105 -538,089 538,089 235,050 773,139 773,139 711,160 92.0% $ 5,445,146 $ 7.66 Michigan Auburn Mile, The Auburn Hills, MI 100% 2000/1999/NA 7 533,659 64,298 597,957 26,238 624,195 90,536 90,536 100.0% $ 944,457 $ 10.43 Beacon Square Grand Haven, MI 100% 2004/2004/NA 16 103,316 -103,316 51,387 154,703 51,387 45,932 89.4% $ 781,589 $ 17.02 Home Depot [3] Clinton Pointe Clinton Twp., MI 100% 1992/2003/NA 14 112,876 65,735 178,611 69,595 248,206 135,330 107,605 79.5% $ 1,086,112 $ 10.09 OfficeMax, Sports Authority, Target [3]Clinton Valley Sterling Heights, MI 100% 1985/1996/NA 11 50,262 50,262 51,149 101,411 101,411 89,120 87.9% $ 690,504 $ 7.75 Hobby Lobby Clinton Valley Mall Sterling Heights, MI 100% 1977/1996/2002 8 55,175 55,175 44,106 99,281 99,281 99,281 100.0% $ 1,579,052 $ 15.90 Office Depot, DSW Shoe Warehouse Eastridge Commons Flint, MI 100% 1990/1996/2001 16 117,777 117,972 235,749 51,704 287,453 169,676 158,526 93.4% $ 1,645,612 $ 10.38 Edgewood Towne Center Lansing, MI 100% 1990/1996/2001 17 227,193 23,524 250,717 62,233 312,950 85,757 75,122 87.6% $ 851,796 $ 11.34 OfficeMax, Sam's Club [3], Target [3] Fairlane Meadows Dearborn, MI 100% 1987/2003/NA 22 201,300 56,586 257,886 80,922 338,808 137,508 120,901 87.9% $ 1,660,439 $ 13.73 Fraser Shopping Center Fraser, MI 100% 1977/1996/NA 8 47,632 47,632 23,915 71,547 71,547 51,335 71.8% $ 308,682 $ 6.01 Oakridge Market Gaines Marketplace Gaines Twp., MI 100% 2004/2004/NA 15 351,981 351,981 40,188 392,169 392,169 387,669 98.9% $ 1,648,734 $ 4.25 Meijer, Staples, Target Hoover Eleven Warren, MI 100% 1989/2003/NA 47 153,810 153,810 130,960 284,770 284,770 239,235 84.0% $ 3,027,009 $ 12.65 Kroger, Marshalls, OfficeMax Jackson Crossing Jackson, MI 100% 1967/1996/2002 64 254,242 222,192 476,434 177,713 654,147 399,905 366,927 91.8% $ 3,465,073 $ 9.44 Beyond, Jackson 10 Theater Jackson West Jackson, MI 100% 1996/1996/1999 5 194,484 194,484 15,837 210,321 210,321 190,838 90.7% $ 1,357,418 $ 7.11 Lowe's, Michaels, OfficeMax Kentwood Towne Centre Kentwood, MI 77.88% 1988/1996//NA 16 101,909 122,390 224,299 50,473 274,772 172,863 164,663 95.3% $ 1,150,579 $ 6.99 Hobby Lobby, OfficeMax, Rooms Today [3]Lake Orion Plaza Lake Orion, MI 100% 1977/1996/NA 9 126,195 126,195 14,878 141,073 141,073 133,753 94.8% $ 517,129 $ 3.87 Hollywood Super Market, Kmart Lakeshore Marketplace Norton Shores, MI 100% 1996/2003/NA 21 126,800 258,638 385,438 89,015 474,453 347,653 339,074 97.5% $ 2,727,144 $ 8.04 "R" Us, Target[3] Livonia Plaza Livonia, MI 100% 1988/2003/NA 20 90,831 90,831 43,042 133,873 133,873 122,922 91.8% $ 1,273,109 $ 10.36 Kroger, TJ Maxx Madison Center Madison Heights, MI 100% 1965/1997/2000 15 167,830 167,830 59,258 227,088 227,088 185,832 81.8% $ 1,197,147 $ 6.44 Dunham's [4], Kmart New Towne Plaza Canton Twp., MI 100% 1975/1996/2005 15 126,425 126,425 51,259 177,684 177,684 177,684 100.0% $ 1,774,491 $ 9.99 Kohl's, Jo-Ann Oak Brook Square Flint, MI 100% 1982/1996/NA 20 79,744 79,744 72,629 152,373 152,373 141,830 93.1% $ 1,194,786 $ 8.42 TJ Maxx, Hobby Lobby Roseville Towne Center Roseville, MI 100% 1963/1996/2004 9 206,747 206,747 40,221 246,968 246,968 246,968 100.0% $ 1,688,163 $ 6.84 Marshalls, Wal-Mart, Office Depot[4] Shoppes at Fairlane Meadows Dearborn, MI 100% 2007/NA/NA 8 --19,925 19,925 19,925 13,197 66.2% $ 321,538 $ 24.36 Southfield Plaza Southfield, MI 100% 1969/1996/2003 14 128,339 128,339 37,660 165,999 165,999 163,749 98.6% $ 1,372,869 $ 8.38 Burlington Coat Factory, Marshalls, StaplesTaylor Plaza Taylor, MI 100% 1970/1996/2006 1 102,513 102,513 -102,513 102,513 102,513 100.0% $ 439,992 $ 4.29 Home Depot Tel-Twelve Southfield, MI 100% 1968/1996/2003 21 479,869 479,869 43,542 523,411 523,411 523,411 100.0% $ 5,736,604 $ 10.96 PETsMART West Oaks I Novi, MI 100% 1979/1996/2004 8 215,251 215,251 30,270 245,521 245,521 209,205 85.2% $ 2,069,046 $ 9.89 Mountain West Oaks II Novi, MI 100% 1986/1996/2000 30 221,140 90,753 311,893 77,201 389,094 167,954 166,979 99.4% $ 2,875,279 $ 17.22 Us[3], Kohl's[3], Jo-Ann Total / Average 457 2,000,212 3,599,176 5,599,388 1,455,320 7,054,708 5,054,496 4,714,807 93.3% 43,384,352$ 9.20$ North Carolina Ridgeview Crossing Elkin, NC 100% 1989/1997/1995 8 58,581 58,581 12,340 70,921 70,921 70,921 100.0% 328,491$ 4.63$ Belk Department Store, Ingles Market Best Buy [3], Target [3], Meijer [3], Costco [3], Jo-Ann, Staples Farmer Jack (A&P) [4], Office Depot[4], Target [3], TJ Maxx Best Buy, Citi Trends, Target [3], Burlington Coat Factory [3] Kohl's, Sears [3], Target [3], TJ Maxx, Toys "R" Us, Best Buy, Bed Bath & Barnes & Noble, Dunham's, Elder-Beerman, Hobby Lobby, T J Maxx, Toys Meijer, Lowe's, Office Depot, Best Buy, DSW Shoe Warehouse, Michaels, OfficeMax, DSW Shoe Warehouse, Home Goods, Michaels, Gander Value City Furniture [3], Bed Bath & Beyond [3], Marshalls, Toys "R" Total / Average 8 -58,581 58,581 12,340 70,921 70,921 70,921 100.0% $ 328,491 $ 4.63 Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 16

Operating Property Summary As of March 31, 2009 Total Shopping Center GLA: Company Owned GLA Annualized Base Rent Year Constructed / Anchors: Acquired / Year of NonTotal Non-Ownership NumberLatest Renovation or Company Company Anchor Anchor Property Location % Expansion (1) of UnitsOwned Owned GLA GLA Total Total Leased Occupancy Total PSF Anchors [2] Ohio Crossroads Centre Rossford, OH 100% 2001/2001/NA 22 126,200 255,091 381,291 99,054 480,345 354,145 344,205 97.2% $ 3,240,597 9.41$ Home Depot, Target [3], Giant Eagle, Michaels, Calphalon OfficeMax Center Toledo, OH 100% 1994/1996/NA 1 22,930 22,930 -22,930 22,930 22,930 100.0% $ 265,988 11.60$ OfficeMax Rossford Pointe Rossford, OH 100% 2006/2005/NA 6 41,077 41,077 6,400 47,477 47,477 45,877 96.6% $ 575,127 12.54$ PETsMART, Office Depot[4] Spring Meadows Place Holland, OH 100% 1987/1996/2005 28 384,770 110,691 495,461 101,126 596,587 211,817 198,225 93.6% $ 2,247,450 11.34$ Dick's Sporting Goods [3], Best Buy [3], Kroger [3], Target [3], T J Maxx, OfficeMax, PETsMART, Ashley Furniture, Sam's Club[3], Big Lots[3] Troy Towne Center Troy, OH 100% 1990/1996/2003 18 197,109 86,584 283,693 58,026 341,719 144,610 141,110 97.6% $ 892,538 6.33$ Wal-Mart[3], Kohl's Total / Average 75 708,079 516,373 1,224,452 264,606 1,489,058 780,979 752,347 96.3% $ 7,221,699 9.60$ South Carolina Taylors Square Taylors, SC 100% 1989/1997/2005 14 207,455 207,455 33,777 241,232 241,232 238,476 98.9% $ 1,441,893 6.05$ Wal-Mart Total / Average 14 -207,455 207,455 33,777 241,232 241,232 238,476 98.9% $ 1,441,893 6.05$ Tennessee Northwest Crossing Knoxville, TN 100% 1989/1997/NA 11 274,291 274,291 29,933 304,224 304,224 302,724 99.5% $ 1,784,010 5.89$ Wal-Mart, Ross Dress for Less, Greggs Appliances Northwest Crossing II Knoxville, TN 100% 1999/1999/NA 2 23,500 23,500 4,674 28,174 28,174 28,174 100.0% $ 308,969 10.97$ OfficeMax Total / Average 13 -297,791 297,791 34,607 332,398 332,398 330,898 99.5% $ 2,092,979 6.33$ Wisconsin East Town Plaza Madison, WI 100% 1992/2000/2000 18 132,995 144,685 277,680 64,274 341,954 208,959 185,551 88.8% $ 1,721,517 9.28$ Burlington Coat Factory, Marshalls, Jo-Ann, Borders, Toys "R" Us[3], Shopko[3] Total / Average 18 132,995 144,685 277,680 64,274 341,954 208,959 185,551 88.8% $ 1,721,517 9.28$ Operating Total / Average 958 3,216,467 6,278,680 9,495,147 2,790,602 12,285,749 9,069,282 8,516,880 93.9% $ 79,508,215 9.34$ Joint Ventures: Florida Cocoa Commons Cocoa, FL 30% 2001/2007/NA 23 Cypress Point Clearwater, FL 30% 1983/2007/NA 22 Kissimmee West Kissimmee, FL 7% 2005/2005/NA 17 Martin Square Stuart, FL 30% 1981/2005/NA 14 Mission Bay Plaza Boca Raton, FL 30% 1989/2004/NA 57 Plaza at Delray, The Delray Beach, FL 20% 1979/2004/NA 48 Shenandoah Square Davie, FL 40% 1989/2001/NA 43 Shoppes of Lakeland Lakeland, FL 7% 1985/1996/NA 22 Treasure Coast Commons Jensen Beach, FL 30% 1996/2004/NA 3 Village of Oriole Plaza Delray Beach, FL 30% 1986/2005/NA 39 Village Plaza Lakeland, FL 30% 1989/2004/NA 26 Vista Plaza Jensen Beach, FL 30% 1998/2004/NA 9 West Broward Shopping Center Plantation, FL 30% 1965/2005/NA 19 51,420 51,420 38,696 90,116 90,116 76,920 85.4% $ 918,524 $ 11.94 Publix 103,085 103,085 64,195 167,280 167,280 155,126 92.7% $ 1,843,268 $ 11.88 Burlington Coat Factory, The Fresh Market 184,600 67,000 251,600 48,586 300,186 115,586 114,386 99.0% $ 1,450,088 $ 12.68 Jo-Ann, Marshalls,Target [3] 291,432 291,432 39,673 331,105 331,105 326,340 98.6% $ 2,083,845 $ 6.39 Home Depot, Howards Interiors [5], Kmart, Staples 159,147 159,147 113,719 272,866 272,866 249,327 91.4% $ 4,704,161 $ 18.87 Albertsons, LA Fitness Sports Club, OfficeMax, Toys "R" Us 193,967 193,967 137,529 331,496 331,496 271,792 82.0% $ 4,482,452 $ 16.49 Books-A-Million, Marshalls, Publix, Regal Cinemas, Staples 42,112 42,112 81,534 123,646 123,646 110,716 89.5% $ 1,707,931 $ 15.43 Publix 123,400 122,441 245,841 66,447 312,288 188,888 161,988 85.8% $ 1,915,319 $ 11.82 Michaels, Ashley Furniture, Target [3] 92,979 92,979 -92,979 92,979 92,979 100.0% $ 1,154,920 $ 12.42 Barnes & Noble, OfficeMax, Sports Authority 42,112 42,112 113,640 155,752 155,752 150,222 96.4% $ 2,056,339 $ 13.69 Publix 64,504 64,504 82,251 146,755 146,755 108,452 73.9% $ 1,345,419 $ 12.41 Staples 87,072 87,072 22,689 109,761 109,761 81,347 74.1% $ 1,050,993 $ 12.92 Bed Bath & Beyond, Michaels Total / Average 342 308,000 81,801 1,399,072 81,801 1,707,072 74,435 883,394 156,236 2,590,466 156,236 2,282,466 154,185 2,053,780 98.7% $ 90.0% $ 1,616,015 26,329,274 $ $ 10.48 12.82 Badcock, National Pawn Shop, Save-A-Lot, US Postal Service Georgia Paulding Pavilion Hiram, GA 20% 1995/2006/NA 13 60,509 60,509 24,337 84,846 84,846 76,896 90.6% $ 1,181,994 $ 15.37 Sports Authority, Staples Peachtree Hill Duluth, GA 20% 1986/2007/NA 36 87,411 87,411 63,461 150,872 150,872 118,401 78.5% $ 1,162,494 $ 9.82 Kroger, Outrageous Bargains Total / Average 49 -147,920 147,920 87,798 235,718 235,718 195,297 82.9% $ 2,344,488 $ 12.00 Illinois Market Plaza Glen Ellyn, IL 20% 1965/2007/1996 33 65,230 65,230 79,600 144,830 144,830 135,250 93.4% $ 2,070,943 $ 15.31 Jewel Osco, Staples Rolling Meadows Rolling Meadows, IL 20% 1956/2008/1995 18 -83,230 83,230 47,206 130,436 130,436 102,107 78.3% $ 1,245,503 $ 12.20 Jewel Osco Total / Average 51 -148,460 148,460 126,806 275,266 275,266 237,357 86.2% $ 3,316,446 $ 13.97 Indiana Merchants' Square Carmel, IN 20% 1970/2004/NA 47 80,000 69,504 149,504 194,885 344,389 264,389 224,063 84.7% $ 2,734,474 $ 12.20 Marsh [3], Cost Plus, Hobby Lobby Nora Plaza Indianapolis, IN 7% 1958/2007/2002 24 123,800 58,144 181,944 75,258 257,202 133,402 130,147 97.6% $ 1,793,498 $ 13.78 Target [3], Marshalls, Whole Foods Total / Average 71 203,800 127,648 331,448 270,143 601,591 397,791 354,210 89.0% $ 4,527,972 $ 12.78 Maryland Crofton Centre Crofton, MD 20% 1974/1996/NA 18 196,570 196,570 54,941 251,511 251,511 250,422 99.6% $ 1,822,419 $ 7.28 Basics/Metro, Kmart, Leather Expo, Gold's Gym Total / Average 18 -196,570 196,570 54,941 251,511 251,511 250,422 99.6% $ 1,822,419 $ 7.28 Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 17

[1] BY GLA [2] [1] BY GLA [2] [1] BY GLA [2] OH: Ohio MI FL GA 5% LOC LOC MI FL OH 8% GA 8% OH 8% BY RENT BY RENT BY RENT GEOGRAPHIC DIVERSIFICATION ANCHOR, NON-ANCHOR TENANT MIX CREDIT QUALITY TENANT MIX MI: Michigan FL: Florida IN: Indiana GA: Georgia WI: Wisconsin ANCHORS: Spaces greater than or equal to 19,000 square feet NON-ANCHORS: Spaces of less than 19,000 square feet NAT: National REG: Regional LOC: Local 41% 31% All Others 10% LEGEND LEGEND LEGEND ANCHOR 51% NON-ANCHOR 49% ANCHOR 68% NON-ANCHOR 32% NAT 69% 18% REG 13% NAT 70% IN 3% 13% REG 17% 42% 27% All Others 10% WI 2% IN 2% WI 3% [1] Figures shown represent annualized base rents [2] Figures shown represent occupied Gross Leasable Area Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 19

Major Tenant Exposure* as of March 31, 2009 Annualized Base Rent in Place at 03/31/09 % of Total % of Base Rental Number of Leased GLA as of Company Owned Total Annualized Annualized Base Revenue as of Lease Name Leases 03/31/09 (Sq.Ft.) GLA Base Rent Rent/Square Foot 03/31/09 T.J. Maxx/Marshalls 19 611,154 3.90% $5,738,487 $9.39 3.73% Publix 12 574,794 3.67% 4,534,891 $7.89 2.95% Home Depot 4 487,203 3.11% 3,259,492 $6.69 2.12% OfficeMax 12 273,720 1.75% 3,065,968 $11.20 1.99% Kmart 6 618,341 3.95% 2,717,603 $4.39 1.77% Wal-Mart 4 636,257 4.07% 2,675,565 $4.21 1.74% Jo-Ann 7 230,976 1.48% 2,480,777 $10.74 1.61% Dollar Tree 26 285,756 1.83% 2,427,737 $8.50 1.58% PETsMART 7 160,428 1.02% 2,283,195 $14.23 1.48% Staples 10 223,443 1.43% 2,277,866 $10.19 1.48% Michaels 9 199,724 1.28% 2,211,075 $11.07 1.44% Best Buy 4 141,895 0.91% 1,953,758 $13.77 1.27% Bed Bath & Beyond 5 154,599 0.99% 1,846,043 $11.94 1.20% Gander Mountain 2 159,791 1.02% 1,844,967 $11.55 1.20% Lowe's Home Centers 2 270,394 1.73% 1,822,956 $6.74 1.18% 129 5,028,475 32.13% $41,140,380 $8.18 26.72% *Based upon percentage of annualized base rent. Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 20

Summary of Expiring GLA All Leases Annualized Base Rent in Place at 03/31/09 Lease Number of GLA Under % of Annualized Base Expiration Leases Expiring Company Total Annualized % of Annualized Rent per Square Year Expiring Leases Owned GLA Base Rent Base Rent Foot 2009 190 717,370 2010 248 1,402,937 2011 284 1,394,720 2012 241 1,459,912 2013 198 1,587,242 2014 121 1,373,275 2015 38 652,976 2016 65 1,320,028 2017 47 787,433 2018 37 777,015 2019+ 61 2,752,131 Total 1,530 14,225,039 5.04% $8,663,251 5.63% $12.08 9.86% 16,880,595 10.97% 12.03 9.80% 18,389,524 11.95% 13.19 10.26% 16,876,227 10.96% 11.56 11.16% 18,943,489 12.31% 11.93 9.65% 12,343,725 8.02% 8.99 4.59% 7,252,402 4.71% 11.11 9.28% 13,385,425 8.70% 10.14 5.54% 10,478,779 6.81% 13.31 5.46% 7,727,802 5.02% 9.95 19.35% 23,000,629 14.94% 8.36 100.00% $153,941,848 100.00% $10.82 All Anchor Leases Lease Number of GLA Under % of Annualized Base Expiration Leases Expiring Company Total Annualized % of Annualized Rent per Square Year Expiring Leases Owned GLA Base Rent Base Rent Foot 2009 7 234,874 2.43% $1,886,335 2.41% $8.03 2010 19 688,554 7.13% 5,626,764 7.18% 8.17 2011 14 465,334 4.82% 3,569,197 4.55% 7.67 2012 17 742,271 7.69% 4,478,350 5.71% 6.03 2013 26 1,048,908 10.86% 8,941,275 11.41% 8.52 2014 21 994,353 10.30% 5,948,178 7.59% 5.98 2015 14 521,034 5.40% 4,997,579 6.38% 9.59 2016 26 1,097,217 11.36% 9,095,442 11.61% 8.29 2017 18 668,620 6.92% 8,167,553 10.42% 12.22 2018 13 652,123 6.75% 5,817,780 7.42% 8.92 2019+ 33 2,542,782 26.33% 19,843,026 25.31% 7.80 Total 208 9,656,070 100.00% $78,371,479 100.00% $8.12 All Non-Anchor Leases Lease Number of GLA Under % of Annualized Base Expiration Leases Expiring Company Total Annualized % of Annualized Rent per Square Year Expiring Leases Owned GLA Base Rent Base Rent Foot 2009 183 482,496 10.56% $6,776,916 8.97% $14.05 2010 229 714,383 15.64% 11,253,831 14.89% 15.75 2011 270 929,386 20.34% 14,820,327 19.61% 15.95 2012 224 717,641 15.71% 12,397,877 16.41% 17.28 2013 172 538,334 11.78% 10,002,214 13.24% 18.58 2014 100 378,922 8.29% 6,395,547 8.46% 16.88 2015 24 131,942 2.89% 2,254,823 2.98% 17.09 2016 39 222,811 4.88% 4,289,983 5.68% 19.25 2017 29 118,813 2.60% 2,311,226 3.06% 19.45 2018 24 124,892 2.73% 1,910,022 2.53% 15.29 2019+ 28 209,349 4.60% 3,157,604 4.18% 15.08 Total 1,322 4,568,969 100.00% $75,570,370 100.00% $16.54 Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 21

Joint Ventures Contribution to Funds from Operations (in thousands) For Three Months Ended March 31, 2009 Ramco/Lion Ramco 450 Ramco 191 Ramco Ramco Hartland River City Southfield West Acres Shenandoah Ramco Venture LP Venture LLC Venture LLC HHF KL LLC HHF NP LLC Towne Square North Ind Plaza Commons Square Consolidated Consolidated Consolidated Consolidated Consolidated Indianapolis, IN Hartland, MI Jacksonville, FL Southfield, MI Flint, MI Davie, FL Interest Total revenue 13,622$ 8,352$ 447$ 1,178$ 655$ 19$ -$ 72$ 373$ 767$ 6,471$ Operating expense 4,479 2,916 121 357 273 5 2 25 130 272 $ 2,169 Depreciation and amortization 3,539 2,699 179 325 164 44 -10 70 169 $ 1,781 Interest expense 3,997 3,132 39 ----15 177 220 $ 2,000 Total expenses 12,015 8,747 339 682 437 49 2 50 377 661 5,950 Net income (loss) $ 1,607 (395)$ 108$ 496$ 218$ $ (30) (2)$ 22$ (4)$ 106$ 521$ Ramco ownership interest 30% 20% 20% 7% 7% 20% 5% 50% 40% 40% Ramco's share of net income $ 482 (79)$ 22$ 35$ 15$ $ (6) -$ 11$ (2)$ 42$ 520$ Add: depreciation expense 1,012 515 33 23 11 --5 28 67 1,694 Funds from operations contributed 1,494$ 436$ 55$ 58$ 26$ $ (6) -$ 16$ 26$ 109$ 2,214$ by joint ventures Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 22

Joint Ventures Combining Balance Sheets as of March 31, 2009(in thousands) Ramco/Lion Ramco 450 Ramco 191 Ramco Ramco Ramco RM Ramco Jacksonville S-12 Ramco/ Ramco/ Venture LP Venture LLC Venture LLC HHF KL LLC HHF NP LLC Hartland SC LLC North Industrial LLC Associates West Acres LLC Shenandoah LLC Ramco/Lion Ramco 450 Ramco 191 Ramco Ramco Hartland River City Southfield West Acres Shenandoah Ramco Venture LP Venture LLC Venture LLC HHF KL LLC HHF NP LLC Towne Square North Ind Plaza Expansion Commons Square Equity Consolidated Consolidated Consolidated Consolidated Indianapolis, IN Hartland, MI Jacksonville, FL Southfield, MI Flint, MI Davie, FL Investment ASSETS Investment in real estate Land 76,891$ 51,760$ 2,879$ 7,600$ 4,019$ 7,387$ 1,127$ 50$ 1,118$ 1,653$ Buildings and improvements 455,615 299,174 19,365 44,542 23,509 --446 10,124 14,976 Construction in progress 4,837 3,271 366 14 -9,556 92 ---Intangible assets, net 14,853 8,393 800 1,205 523 2,393 30 30 45 246 552,196 362,598 23,410 53,361 28,051 19,336 1,249 526 11,287 16,875 Less: accumulated depreciation (38,456) (12,031) (725) (2,022) (956) --(144) (1,931) (2,816) Investments in real estate, net 513,740 350,567 22,685 51,339 27,095 19,336 1,249 382 9,356 14,059 Cash and cash equivalents 8,969 9,916 573 671 433 34 8 131 270 861 Accounts receivable, net 10,582 3,177 262 178 (88) 21 -39 69 356 Other assets, net 2,238 1,191 94 1 250 --109 95 387 Total Assets 535,529$ 364,851$ 23,614$ 52,189$ 27,690$ 19,391$ 1,257$ 661$ 9,790$ 15,663$ LIABILITIES AND SHAREHOLDERS' EQUITY Mortgages and notes payable 271,980$ 221,298$ 8,750$ $ --$ 14,562$ 723$ 882$ 8,671$ 12,009$ Accounts payable and accrued expenses 12,881 8,407 136 677 325 1,129 4 239 189 401 284,861 229,705 8,886 677 325 15,691 727 1,121 8,860 12,410 ACCUMULATED EQUITY (DEFICIT) 250,668 135,146 14,728 51,512 27,365 3,700 530 (460) 930 3,253 Total Liabilities and Accumulated Equity 535,529$ 364,851$ 23,614$ 52,189$ 27,690$ 19,391$ 1,257$ 661$ 9,790$ 15,663$ EQUITY INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES Equity Investments in Unconsolidated Entities 70,428$ 14,937$ 3,395$ 2,840$ 1,955$ 726$ 10$ 919$ 330$ 1,260$ 96,800$ Advances to Unconsolidated Entities -----6,057 723 ---6,780 Total Equity Investments in and Advances to Unconsolidated Entities 70,428$ 14,937$ 3,395$ 2,840$ 1,955$ 6,783$ 733$ 919$ 330$ 1,260$ 103,580$ Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 23

Summary of Joint Venture Debt as of March 31, 2009 Entity Property Location Ramco Ownership Interest Mortgage Balance Maturity Date Loan Type Interest Rate Ramco Share of Debt Ramco/Lion Venture RLV Village Plaza LP Village Plaza Lakeland, FL 30% $ 9,300,000 09/15 Fixed 5.01% $ 2,790,000 RLV West Broward LP West Broward Shopping Center Plantation, FL 30% 9,647,420 10/12 Fixed 6.64% 2,894,226 RLV Martin Square LP Martin Square Stuart, FL 30% 13,039,020 08/11 Fixed 7.44% 3,911,706 RLV Marketplace of Delray LP Marketplace of Delray Delray Beach, FL 30% 16,614,843 01/11 Fixed 7.88% 4,984,453 RLV Treasure Coast LP Treasure Coast Commons Jensen Beach, FL 30% 8,415,000 06/20 Fixed 5.54% 2,524,500 RLV Oriole Plaza LP Village of Oriole Plaza Delray Beach, FL 30% 11,733,435 10/10 Fixed 8.25% 3,520,030 RLV Vista Plaza LP Vista Plaza Jensen Beach, FL 30% 11,115,000 06/20 Fixed 5.54% 3,334,500 RLV Cypress Pointe LP RLV Boca Mission LP Cypress Pointe Mission Bay Plaza Clearwater, FL Boca Raton, FL 30% 30% 14,500,000 44,206,230 11/09 07/13 Fixed Fixed 4.60% 6.64% 4,350,000 13,261,869 RLV Winchester Center LP Winchester Center Rochester Hills, MI 30% 28,717,272 07/13 Fixed 8.03% 8,615,182 RLV Hunter's Square LP Hunter's Square Farmington Hills, MI 30% 37,291,942 08/13 Fixed 8.07% 11,187,583 RLV Millennium Park LP Millennium Park Livonia, MI 30% 32,000,000 10/15 Fixed 5.02% 9,600,000 RLV Troy Marketplace LP Troy Marketplace Troy, MI 30% 21,900,000 06/16 Fixed 5.90% 6,570,000 RLV Gratiot Crossing LP Gratiot Crossing Chesterfield Twp., MI 30% 13,500,000 06/16 Fixed 5.90% 4,050,000 Subtotal Ramco/Lion Venture $ 271,980,162 $ 81,594,049 Ramco 450 Venture LLC Crofton 450 LLC Crofton Centre Crofton, MD 20% $ 17,000,000 01/17 Fixed 5.85% $ 3,400,000 Merchants 450 LLC Merchants' Square Carmel, IN 20% 32,700,000 05/17 Fixed 6.04% 6,540,000 Chester Springs SC LLC Chester Springs Shopping Center Chester, NJ 20% 23,058,074 10/13 Fixed 5.51% 4,611,615 Ramco Peachtree Hill LLC Peachtree Hill Duluth, GA 20% 15,000,000 02/10 Variable 4.19% [1] 3,000,000 Lane Avenue 450 LLC Shops on Lane Upper Arlington, OH 20% 27,600,000 01/18 Variable 5.95% [2] 5,520,000 Olentangy Plaza 450 LLC Olentangy Plaza Columbus, OH 20% 21,600,000 01/18 Variable 5.88% [2] 4,320,000 Market Plaza 450 LLC Market Plaza Glen Ellyn, IL 20% 24,505,000 01/18 Variable 5.88% [2] 4,901,000 Rolling Meadows 450 LLC Rolling Meadows Rolling Meadows, IL 20% 11,911,250 12/15 Fixed 5.34% 2,382,250 Plaza at Delray 450 LLC The Plaza at Delray Delray Beach, FL 20% 48,000,000 09/13 Fixed 6.00% 9,600,000 Subtotal Ramco 450 Venture LLC $ 221,374,324 $ 44,274,865 S-12 Associates Southfield Plaza Expansion Southfield, MI 50% $ 881,679 05/16 Fixed 6.75% [3] $ 440,839 Ramco/West Acres LLC West Acres Commons Flint, MI 40% 8,671,338 04/10 Fixed 8.14% 3,468,535 Ramco/Shenandoah LLC Shenandoah Square Davie, FL 40% 12,008,420 02/12 Fixed 7.33% 4,803,368 Paulding Holding LLC Paulding Pavilion Hiram, GA 20% 8,750,000 06/10 Variable 1.95% [4] 1,750,000 Ramco RM Hartland SC LLC Hartland Towne Square Hartland, MI 20% 8,505,000 07/09 Variable 3.40% [5] 1,701,000 Ramco RM Hartland SC LLC Hartland Towne Square Hartland, MI 20% 6,056,617 10/09 Fixed 13.00% 1,211,323 Jacksonville North Industrial Outlot LLC Jacksonville, FL 5% 723,000 09/09 Variable 2.72% [6] 36,150 Total Debt $ 538,950,540 $ 139,280,129 [1] Interest rate is variable based on LIBOR plus 1.50%. [2] Interest rate is fixed for five years and then lender has right to reset interest rate in 2013. [3] Interest rate is fixed until 6/1/2009, then resets per formula annually. [4] Interest rate is variable based on LIBOR plus 1.45%. [5] Interest rate is based on LIBOR plus 2.95%. [6] Interest rate is based on LIBOR plus 2.25%. Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q1 2009 Page 24

INVESTOR INFORMATION Inquiries Ramco-Gershenson Properties Trust welcomes any questions or comments from shareholders, analysts, investment managers, media or prospective investors. Please address all inquiries to our Investor Relations Department: Dawn L. Hendershot Director of Investor Relations and Corporate Communications Ramco-Gershenson Properties Trust 31500 Northwestern Highway, Suite 300 Farmington Hills, MI 48334 Phone: (248) 592-6202 FAX: (248) 592-6203 E-mail: dhendershot@rgpt.com Website: www.rgpt.com Ticker: NYSE:RPT Research Coverage Deutsche Bank Securities Inc. Vincent Chao 212.250.8811 RBC Capital Markets Richard C. Moore, CFA 440.715.2646 Stifel Nicolaus David M. Fick, CPA Nathan Isbee 443.224.1308 443.224.1346 Our Supplemental Financial Package is available via e-mail and is also featured on our corporate website at www.rgpt.com. If you would like to receive this document electronically each quarter, please e-mail: dhendershot@rgpt.com. Supplemental Financial and Operating Statistics Q1 2009 Ramco-Gershenson Properties Trust (RPT) Page 25