#1FEDERAL 1962 Investor Presentation FOURTH QUARTER 2023 UOME Mise THE SHADE STORE ANTER#2Federal Realty Investment Trust Strategically selected first-ring suburbs of nine metro markets with high barriers to entry COCO 0000000000000000 000000 00000 00000000000000000000 → Fully integrated US retail real estate-based company focused on risk-adjusted capital allocation -> Own, manage and re/develop mixed-use properties and high-quality open air shopping centers in first-ring suburban locations 102 properties include ~3,300 commercial tenants ~26 million square feet ~3,100 residential units Strong balance sheet with BBB+/Baal stable ratings¹ Included in the S&P 500 1 The complete ratings reports can be accessed at www.federalrealty.com 24Q annualized dividend per share SILICON VALLEY000 SOUTHERN CALIFORNIA PHOENIX 000 00 CHICAGO 00 000 0000 COOOD00 BOSTON 00 NEW YORK PHILADELPHIA WASHINGTON, DC C 6000 000 MIAMI 00 . 56 consecutive years of increased annual dividends THE LONGEST RECORD IN THE REIT INDUSTRY $0.12 2 1967 56-YEAR CAGR: 7% $4.36 2 2023 2#34Q & Full-Year 2023 Overview → FFO per share of $1.64 for the quarter, $6.55 for the year → Strong comparable POI growth excluding lease termination fees and prior period rents collected → 4.4% growth 4Q 2023 over 4Q 2022 → 4.3% growth for 2023 over 2022 Expanded -$835 million of redevelopment and expansions in process delivering over the next few years → Announced second phase of residential redevelopment at Bala Cynwyd, projected cost of $90 - $95 million and projected ROI of 7%. Continued robust levels of leasing 100 signed leases in the quarter → 12% cash basis rollover, 23% on a straight-line basis in 4Q → 408 signed leases for over 2 million square feet of comparable space in 2023 56th consecutive year of increased annual dividends, a REIT industry record → 2024 FFO per share guidance → ~3% FFO per share growth at the mid-point → ~5% FFO per share growth at the high-end 3#42024 Guidance Current Considerations Earnings per diluted share $2.72 -$2.94 NAREIT FFO per diluted share $6.65 $6.87 Growth over 2023 -1.5% - 5% Growth of 3% at the midpoint Key Assumptions Comparable POI growth Comparable POI growth excluding prior period rents and lease term fees Prior period rent collections Lease term fees Current 2% - 3.5% 2.5% - 4% $2 $3 million Vs. 2023 levels of $5 million - $4 $7 million Vs. net 2023 levels of $7 million Incremental redevelopment / expansion $9 $12 million POI Includes the expected additional POI to be recognized in 2024 compared to the amount recognized in 2023 from all of the redevelopments listed on pages 16 of our supplemental information document filed on Form 8-K on February 12, 2024. Does not include any additional POI from "Active Property Improvement Projects." G&A expenses Development / redevelopment capital $48 $52 million $100 $150 million Annual spend Capitalized Interest $18 $21 million Total credit reserve Dispositions acquisitions See appendix for reconciliation. 70 - 90 basis points No additional assumed in guidance Consists of bad debt expense, unexpected vacancy and tenant rent relief. More in line with pre-pandemic historical averages 4#5Best-in-Class Demographics → In a landscape marked by cautious consumer spending, FRT's targeted investment on high-income markets not only differentiates us but also anchors our portfolio in unparalleled stability and potential. → Our strategic emphasis, highlighted by an average aggregate income of $10.4 billion within a three-mile radius,(1) ensures resilience and growth amid economic shifts. Income matters in an inflationary environment MEDIAN HOUSEHOLD INCOME (3-MILE) $115,000 $110,000 $105,000 $100,000 $95,000 $90,000 $85,000 • PECO $80,000 • BRX $75,000 • REG KIM • KRG • FRT $70,000 500 700 900 1,100 1,300 1,500 1,700 1,900 2,100 HOUSEHOLDS PER SQUARE MILE 2,300 2,500 (1) ESRI as of September 2023. Defined as average household income multiped by number of households. 3-mile radius. Source: BofA Global Research 5/12/23 5#6Cycle-Tested Business Plan Cumulative change in Nareit FFO per share since 2005 vs. large-cap, national peers → Business plan and balance sheet built to manage through various economic cycles →History of managing through and outperforming during difficult times → Demonstrated consistency, stability and conservatism over the years Source: Company Filings, 2024 assumes mid-point of company provided guidance. Note: Past performance not indicative of future performance. FRT 2019 excludes $11.9 million accounting related charge for the buyout of the Kmart lease at Assembly Row Marketplace. BRX excluded due to insufficient data given IPO in 2013. Global Financial Crisis 140% 120% 100% 80% 60% 40% 20% 0% -20% -40% -60% FRT COVID-19 Recession? REG KIM FRT, 121% REG, 15% KIM, -22% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024E 2025E 6#7Cycle-Tested Business Plan (cont.) TRACK RECORD MATTERS Global Financial Crisis (2008 - 2012) We believe our outperformance in the Global Financial Crisis was driven by: Our sector-leading demographics → consumers in our markets were better able to absorb the recession's impact The quality of our tenancy The quality of our assets The strength of our balance sheet During the Global Financial Crisis, we outperformed our peers in FFO per share growth, same-store growth, and leased rate, among various other metrics COVID-19 Pandemic Disproportionally affected by COVID-19 due to stricter and longer government shutdowns and mandates in our markets Resilient higher-demographic markets have led to a strong bounce back FFO Per Share Growth FRT Peer Avg. Same-store growth FRT excl. Redev Peer Avg. 7.5% 7.7% 7.3% 2.6% 3.1% 3.9% 3.7% -2.1% -2.8% 2.1% 1.9% -3.2% 1.3% 1.2% 0.4% P" ya -20.0% -0.5% -0.3% -33.2% -3.8% 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 Source: SEC filings. Note: Peers include REG, KIM (US Shopping Centers), WRI (acquired by KIM), EQY (Acquired by REG), SITE (formerly DDR). I Inflationary Environment with Potential Recession Inflation and recession risks expected to impact retail differently than COVID-19 pandemic Higher income demographic markets with higher income customers should be less impacted Stronger demographics around our properties should support better performance through inflation and recession 7#8Investment Highlights 福 $ $ $ Open-air properties located in drivable close-in suburbs of 9 major metropolitan markets, with high barriers to entry. Diverse income stream by market, region, use, format, tenant & tenant category with contractual near-term upside. De-risked expansion pipeline of new product at established places in markets with significant demand drivers and job growth. S&P BBB+ MOODY'S Baal Strong balance sheet with ample liquidity and a visible path to pre- pandemic leverage metrics. 56 YEAR CAGR: 7% Tenured management team with dividend & growth track-record throughout various real estate and economic cycles. ESG-minded company with a strong commitment to our tenants, communities, employees and stakeholders. 8#91st Ring Suburbs of 9 Strategic High-Barrier Markets PORTFOLIO OVERVIEW • • WASHINGTON, DC Corporate Headquarters Regional N. Virginia Office 18 Maryland Properties 18 N. Virginia Properties 1 Washington, DC Property BOSTON Regional Office 7 Properties NEW YORK 15 Properties PHILADELPHIA Regional Office 9 Properties CHICAGO 4 Properties SILICON VALLEY Regional Office 102 open-air properties located in 1st ring suburbs of 9 major high-barrier markets Drivable markets with public transit access 102 properties include: • ~3,300 commercial tenants ~26 million commercial square feet on 2,000+ acres of land -3,100 residential units Best in class locations (1) ☐ ㅁ ㅁ $152,000 avg household income 178,000 avg population $10+ billion of average aggregate income (2) Highest barriers to entry 8 Properties SOUTHERN CALIFORNIA Regional office 13 Properties Keys to our Success PHOENIX 2 Properties Note: Includes consolidated properties (1) Source: ESRI as of September 2023. Calculated on a weighted-average basis. 3-mile radius. (2) Defined as average household income multiped by number of households. 3-mile radius. (3) Physical structures that can be readily modified to highest and best use. (4) Landlord retains significant control over the properties with minimal tenant protection. The better the real estate, the more leverage the landlord has. Dense Population (1) 178,000 People Limited Competition Low Retail GLA per capita MALLS Strong Household Incomes(1) $152,000 Avg HHI Flexible Property Format(3) MIAMI 4 Properties High Barriers to Entry Strong Landlord Friendly Leases(4) 6#10Diversified Income Stream By Market PERCENT OF 2023 POI By Format PERCENT OF 2023 POI Santana Row SILICON VALLEY 15% of POI SOUTHERN CALIFORNIA 11% of POI By Use →Retail WHOLEFOODSMARKET O PHOENIX 3% of POI CHICAGO 2% of POI Residential → Office .. BOSTON 12% of POI NEW YORK 12% of POI PHILADELPHIA 6% of POI WASHINGTON, DC Maryland 21% of POI N. Virginia 11% of POI .. MIAMI 4% of POIO Hotel →Plaza El Segundo → Wildwood Shopping Center Mixed Use Centers 38% Community Centers 27% Neighborhood Centers 20% →Brick Plaza HomeGoods Power Centers 9% The Grove at Shrewsbury frances Other 6% ~77% of our centers have a grocery component² Note: Property Operating Income (POI) defined as rental income and mortgage interest income, less rental expenses and real estate taxes. Only includes consolidated properties. 14% of POI from additional properties located outside these markets. Percentages may not sum to 100% due to rounding. 2 Based on GLA. Includes grocers where the lease is signed, and tenant is currently in the process of building out its space or where the property is shadow anchored by a grocer as indicated on our Real Estate Status Report. Grocers in properties in all categories except "Other". 10#11Diversified Income Stream Top 10 Tenants by ABR² Portfolio Composition by ABR • . 78% Retail 12% Residential, less on a POI basis 10% Mixed-Use Office, less on a POI basis 3.0 % 2.5 % 2.7 % Residential 12% Mixed Use Office 10% 2.0 % 1.7 % 1.7 % 1.5 % 1.5 % T 1.3 % 1.3 % 1.3 % 1.0 % 1.0 % 0.9 % 0.9% 0.5 % T Local 11% National / Regional 67% 0.0 % TJX Ahold Delhaize Η NetApp splunk> ♥CVS pharmacy Gap Inc. ROSS DRESS FOR LESS LA FITNESS. Alber Note: As of 12/31/23. 1 Reflects aggregate, annualized in-place contractual (defined as rents billed on a cash basis without taking the impact of rent abatements into account) minimum rent for all occupied spaces and occupied residential units as of 12/31/23. Excludes redevelopment square footage not yet placed in service. - ("ABR"). Reflects consolidated properties. 2 Represents consolidated properties. HOME DEPUT S&P A BBB+ BBB+ NR BBB BB B- BB+ BBB+ A Moody's A2 Baal Baa2 NR Baa2 Ba3 B3 Ba2 A2 A2 Fitch NR NR NR NR NR NR NR NR NR A 11#12Contractual Rent Bumps Matter At the end of the 10-year lease term, Lease A rolls over at a rate of 5% → To achieve the same new lease rent as Lease A, Lease B would have to roll over at -15% and Lease C at ~25% → Additionally, Lease A collected ~5% more rent over the course of the lease than Lease B and -9% more than Lease C Lease A 3% Rent Bumps Annually Lease B 2% Rent Bumps Annually Lease C 10% Rent Bump in Year 5 Initial Rent 20.00 Initial Rent 20.00 Initial Rent 20.00 Rent Bump(s) 3% annually Rent Bump(s) 2% annually Rent Bump(s) 10% in Year 6 Term 10 years Term 10 years Term 10 years Square Feet 10,000 SF Square Feet 10,000 SF Square Feet 10,000 SF Year 1 $ 20.00 Year 1 $ 20.00 Year 1 $ 20.00 Year 2 $ 20.60 Year 2 $ 20.40 Year 2 $ 20.00 Year 3 $ 21.22 Year 3 $ 20.81 Year 3 $ 20.00 Year 4 $ 21.85 Year 4 $ 21.22 Year 4 $ 20.00 Year 5 $ 22.51 Year 5 $ 21.65 Year 5 ՄՌ $ 20.00 Year 6 $ 23.19 Year 6 $ 22.08 Year 6 $ 22.00 Year 7 $ 23.88 Year 7 $ 22.52 Year 7 $ 22.00 Year 8 $ 24.60 Year 8 $ 22.97 Year 8 $ 22.00 Year 9 $ 25.34 Year 9 $ 23.43 Year 9 $ 22.00 Year 10 $ 26.10 Year 10 $ 23.90 Year 10 $ 22.00 Rollover Required 5% Rollover Required -15% Rollover Required -25% New Lease Rent $ 27.40 New Lease Rent $ 27.40 New Lease Rent $ 27.40 Total Rent over Term $ 2,292,776 Total Rent over Term $ 2,189,944 Total Rent over Term $ 2,100,000 % less than Lease A -(5%) % less than Lease A -(9%) 12#13Residential Portfolio MAXIMIZING REAL ESTATE VALUE Existing as of 4Q23 Total Units Leased 3,104 95.9% Comparable as of 4Q23 Total Units Leased 2,480 95.9% B 00000 Santana Row SILICON VALLEY 662 units -> -> Residential units represent 13% of total ABR, less on a POI basis 6% comparable residential POI growth in 4Q 2023 over 4Q 2022 Comparable POI growth guidance (1) includes mid-single digit residential growth Potential source of capital through JV or sale SOUTHERN CALIFORNIA PHOENIX CHICAGO BOSTON 0000 NEW YORK 000000000 PHILADELPHIA WASHINGTON, DC Miscela at Assembly Row Upstairs at Bethesda Row Misora at Santana Row The Henri at Pike & Rose Delwyn at Bala Cynwyd Assembly Row 947 units Hoboken 129 units Darien Commons 124 units delivered Bala Cynwyd Shopping Center 87 units 000 MIAMI Pike & Rose 765 units Congressional Plaza 194 units Bethesda Row 180 units As of 12/31/23 Note: 16 additional units at Wynnewood and Linden Square. (1) See guidance assumptions on page 4. 13#14Mixed-Use Office Portfolio MAXIMIZING REAL ESTATE VALUE Existing Portfolio → 2.0 million SF of amenitized Class A office space in our mixed-use portfolio Representative of 10% of total ABR, less on a POI basis → Ability to realize additional value through office and residential after creating the right retail street Total SF % of Total ABR Leased (as of 12/31/23) WAVG Lease Term¹ → Highly desirable amentizied environment for today's office worker critical for attracting top talent for employers Lease Expirations % OF TOTAL COMMERCIAL SF EXPIRING → Potential future source of capital through JV or sale → 1.1 million SF of new leases signed or at lease since 3Q 2020 0.2% 1 Weighted by ABR 0.5% 1.4% 2024 2025 2026 0.1% 2027 2.0 million SF 10% 96% 7 years 3.0% 0.2% 2029 0.6% 0.4% 0.0% 2030 2031 Thereafter 2028 14#15Mixed-Use Office Portfolio MAXIMIZING REAL ESTATE VALUE Santana Row SILICON VALLEY 676k SF +376k SF underway ...... SOUTHERN CALIFORNIA PHOENIX Hilton Village 212k SF 00 00000 0000000 CHICAGO 00 0000 30000 BOSTON NEW YORK oooo PHILADELPHIA WASHINGTON, DC MIAMI Leading Office Roster Assembly Row 373k SF MERRILL NA A BANK OF AMERICA COMPANY PUMA П NetApp NEWMARK Bethesda Row 183k SF Pike & Rose 400k SF +158k SF underway Sodexo CUSHMAN & WAKEFIELD CocoWalk 121k SF 455 Grand Union Blvd at Assembly Row 700 Santana Row 909 Rose at Pike & Rose 915 Meeting St at Pike & Rose One CocoWalk LEED Gold LEED Certified LEED Gold LEED Gold in progress LEED Gold JLL QUnitedic Solutions splunk> . CISCO AvalonBay COMMUNITIES CHOICE HOTELS midcap SELECTIVE BE UNIQUELY INSURED 15#16In-Process Mixed-Use Expansion Pipeline ~$515 MILLION OF MIXED-USED EXPANSION PROJECTS IN PROCESS • Projects located in the 1st ring suburbs of major metro markets with significant demand drivers Near job centers with continued growth Established places Amenitized environments Delivering desirable new product featuring: ㅁ ㅁ ㅁ State of the art building systems including contactless and touchless entry New HVAC/ air quality systems Outdoor spaces Convenient parking Amenitized walkable environment ~$140 million of spend remaining on current phases over the next few years(1) Project Description Location Demand Drivers Cost Remaining Spend (1) Projected POI Update " 915 Meeting Street Pike & Rose Phase 4 266k SF office, 10k SF retail North Bethesda, MD Washington D.C. Government Healthcare (NIH <4 miles) Biosciences Medical technology $185 $200 million -$45 million remaining spend 6% 65% pre-leased to Choice Hotels and Sodexo Pursuing LEED Gold Certification ONE SANTANA WEST 376k SF office San Jose, CA Silicon Valley Global center of technology Data analytics Social media Cloud computing $315 $330 million -$95 million remaining spend 6% LEED Gold Certification achieved (1) Assumes mid-point of expected total cost less costs to date. 16#17In-Process Strategic Redevelopment Pipeline ~$320 MILLION OF PROJECTS IN PROCESS · Integrated team focused on real estate expansion and redevelopment projects • • Successful track record of completing complex redevelopment projects SELECT PROJECTS RNEW WHOLE FOODS 6 additional redevelopment projects underway in 2023, stabilizing over the next few years ~$110 million of remaining redevelopment spend over the next few years DARIEN COMMONS | Darien, CT 75,000 SF of new retail, 122 apartments Projected Cost: $110 - $120 million | Projected ROI: 6% $5 million remaining spend HUNTINGTON | Huntington, NY 102,000 SF of redesigned retail Projected Cost: $80 - $85 million | Projected ROI: 7 - 8% $13 million remaining spend BALA CYNWYD | Bala Cynwyd, PA 217 apartments, 16,000 SF retail + parking structure Projected Cost: $90 - $95 million | Projected ROI: 7% $89 million remaining spend Note: Remaining spend assumes mid-point of expected total cost less costs to date. A 17#18Entitlements PIPELINE OF ADDITIONAL DENSIFICATION OPPORTUNITIES -1 million SF and 250+ residential units shovel ready (i.e. entitled and designed) expansions ㅁ Pike & Rose, Assembly Row and Santana Row • ~2,000 residential units with design and entitlements in-process □ Predominantly located on underutilized land at our shopping centers ~7 million SF and 2,000+ residential units of additional vested entitlements ㅁ Primarily in our mixed-use portfolio • ⚫ ~7 million SF (commercial + residential) of active major re-zonings in-process The Delwyn Bala Cynwyd Shopping Center The Stories Congressional Plaza Assembly Row Note: Entitlement information covers entirety of properties. There are no guarantees that we will be successful in obtaining any of the rezonings or entitlements that we are currently pursuing, that final entitlements actually obtained will be in the amounts reflected above or that we will utilize all or any of the entitlements that are currently vested or ultimately obtained. 18#19Balance Sheet Snapshot Credit Ratings Ample Liquidity & Financial Flexibility $1.3 billion of total liquidity in cash and credit facility proforma for January financing activity & dividends paid S&P BBB+ . MOODY'S Baal The complete ratings report can be accessed at www.federalrealty.com. Undrawn $1.25 billion revolving credit facility Demonstrated access to diverse and innovative capital sources $485 million of 3.25% Exchangeable Senior Notes due January 2029 issued in January 2024 $200 million mortgage loan secured by Bethesda Row in December 2023 $350 million 5-year green bond in April 2023 No debt maturities remaining in 2024 and no material maturities until 2026 4Q23 Balance Sheet Update 5.9x annualized net debt to EBITDA Target a ratio in the mid 5x over the next year 87% of total debt is fixed rate Free cash flow expected to return to pre- COVID levels in 2024 19#20Cycle-Tested Management Team → Average 20+ years at Federal Realty and 25+ years of real estate experience, including managing through difficult real estate and economic cycles. Lean and nimble corporate structure enables management to be closer to the real estate and the real estate decisions which can affect properties for decades. Proven ability to make smart, risk-adjusted capital allocation decisions throughout investment cycles Total Annual Return since 20031,2 10.3% FRT 9.5% 6.8% All REITs Shopping Center REITS 1 Don Wood has been CEO since January 2003. 2 Indices represent: FTSE NAREIT Index, Bloomberg Shopping Center REIT Index. As of 12/31/23. DON WOOD CEO Joined 1998 JEFF BERKES EVP, President & COO Joined 2000 DAN GUGLIELMONE EVP, CFO & Treasurer Joined 2016 DAWN BECKER EVP, General Counsel & Secretary Joined 1997 WENDY SEHER EVP, Eastern Region, President Joined 2002 JAN SWEETNAM EVP, Chief Investment Officer Joined 1997 20#2156 Consecutive Years of Increased Dividends 1 OF 56 PUBLICLY TRADED COMPANIES CONSIDERED A DIVIDEND KING *4Q annualized dividend per share Inflation in the U.S. hits 14.8% OPEC imposes oil embargo on the US $0.12* 1967 1973 1980 56 YEARS Asian and Russian financial crisis Inflation hits 40-year low of 1.1% 2004 1998 Financial crisis 2009 COVID-19 Pandemic 2020 $4.36 * 56 Year CAGR: 7% 2023 21 21#22Environmental, Social and Governance Snapshot CO₂ Our ESG program focuses on five key objectives that directly support our company mission―to deliver long-term, sustainable growth through best-in-class retail-based real estate. Advance Decarbonization Minimize the carbon footprint of our company and our assets. Strengthen Resiliency Invest in and manage our assets to protect value from increasing frequency and severity of weather- related events and other hazards of climate change. • Science-based target to reduce Scope 1 and 2 emissions by 46% by 2030 (2019 baseline) 32% reduction in Scope 1 & 2 market based GHG emissions between 2019 and 2022 • 5.1 million square feet of LEED projects, completed or in progress 55% of electric consumption in 2022 provided by zero-carbon sources 90% properties fully or partially upgraded with energy-efficient LED lighting in landlord- controlled areas 14.3 MW of solar power generating capacity in solar arrays at 27 properties . Climate change scenario analysis using RCP 8.5 showing minimal financial risk over short, medium and long term Physical risk exposures incorporated into property-level capital planning and investment decisions Management of water usage through technology and landscaping choices Focus on reducing waste generation 22 22#23Connect Communities Use our real estate to contribute to social and economic prosperity of the community and advance social equity. Empower Teams Create a work environment that is diverse, engaging and helps employees grow personally and professionally. Govern Responsibly Establish foundation to run the company ethically with appropriate fiscal and decision-making controls to manage risk. Local scholarships provided at Freedom Plaza in Los Angeles $450 million invested with Primestor in historically underrepresented communities Local cultural programming and events (more than 300 in 2023) Partnerships with local artists and support for local causes ~325 affordable housing units provided at our properties • Competitive pay and benefits • Average tenure in excess of 9 years . • Pay equity analysis shows no pay anomalies based on race or gender Women represented 54% of our workforce and 67% of promotions in 2023 Minorities represented 56% of new hires and 33% of promotions in 2023 Comprehensive health and wellness initiatives through our Be Well at Federal program • • • Annual election of all trustees Independent non-executive chairperson Majority voting and proxy access for trustee elections Prohibition on hedging and pledging our stock combined with clawback policy and equity hold requirements Note: More information about our Board, the Board's committees, and each of our trustees is available on Federal Realty's website. 23#24→ More information about our ESG program can be found in our 2022 Environmental Social and Governance Report, which provides additional detailed information in alignment with the frameworks established by the Global Reporting Initiative, Task Force for Climate Related Financial Disclosures and Sustainability Accounting Standards Board. Awards & Recognition MSCI ESG RATINGS CCC B AAA BB BBB A AA AAA SCIENCE BASED TARGETS DRIVING AMBITIOUS CORPORATE CLIMATE ACTION GRESB 50 WOMEN 50 ON BOARDS Gender-Balanced Board GREEN LEASE LEADER GOLD cfi 2023 BEST ESG REAL ESTATE INVESTMENT STRATEGY WINNER USA 24#25FEDERAL 1962 25#26Appendix Reconciliation of FFO Guidance as of December 31, 2023 The following tables provide a reconciliation of the range of estimated earnings per diluted share to estimated FFO per diluted share for the full year 2024. Estimates do not include the impact from potential acquisitions or dispositions which have not closed as of January 31, 2024. Estimated net income available to common shareholders, per diluted share Adjustments: Estimated depreciation and amortization Estimated FFO per diluted share Full Year 2024 Guidance Range Low High $2.72 $2.94 3.93 3.93 $6.65 $6.87 26#27Safe Harbor and Non-GAAP Information Certain matters included in this presentation may be forward looking statements within the meaning of federal securities laws. Actual future performance and results may differ materially from those included in forward looking statements. Please refer to our most recent annual report on Form IOK and quarterly report on Form 10Q filed with the SEC which include risk factors and other information that could cause actual results to differ from what is included in forward looking statements. Supplemental information is provided in this presentation for certain portions of our office and residential portfolios. These portions of our portfolio are managed holistically with the rest of our portfolio and inclusion of this supplemental information should not be construed as an indication that these portions of our portfolio are run independently or constitute a separately managed independently from the remainder of the portfolio. This presentation includes certain non-GAAP financial measures that the company considers meaningful measures of financial performance. Additional information regarding these non-GAAP measures, including reconciliations to GAAP, are included in documents we have filed with the SEC. Definitions of terms not defined in this presentation can be found in our documents filed with the SEC. 27#28FEDERAL 1962 ir.federalrealty.com