Investor Presentaiton

A HISTORY RICH WITH ACTION WE ADAPT AHEAD OF THE CURVE Beginning: Moderate-quality retail portfolio Non-traditional uses added to portfolio Dispose of 18 low-quality malls and invest proceeds into better-quality assets Add diverse uses throughout the portfolio including: Restaurants Entertainment Fitness Off-Price big box stores Transform assets into multi-use destinations through the addition of apartments, hotels, medical uses, fulfillment, grocery and more Replace department stores with mix of open-air tenants Complete major redevelopments Maximized -value real estate portfolio We are poised to benefit from improving NOI, compressing cap rates and the opportunity to raise capital and reduce debt. PREIT 4

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