Form 8-K

8-K — InvenTrust Properties Corp.

Accession: 0001307748-26-000209

Filed: 2026-10-27

Period: 2026-10-27

CIK: 0001307748

SIC: 6798 (REAL ESTATE INVESTMENT TRUSTS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ivtp-20261027.htm (Primary)

EX-99.1 (q32026earningsrelease.htm)

EX-99.2 (q32026supplemental.htm)

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8-K

8-K (Primary)

Filename: ivtp-20261027.htm · Sequence: 1

ivtp-20261027

FALSE000130774800013077482026-10-272026-10-27

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________

FORM 8-K

___________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

October 27, 2026

Date of Report (Date of earliest event reported)

___________________________________

INVENTRUST PROPERTIES CORP.

(Exact name of registrant as specified in its charter)

___________________________________

Maryland

(State or other jurisdiction of

incorporation)

001-40896

(Commission File Number)

34-2019608

(IRS Employer Identification No.)

3025 Highland Parkway, Suite 350

Downers Grove, Illinois 60515

(Address of principal executive offices and zip code)

(855) 377-0510

(Registrant's telephone number, including area code)

N/A

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

___________________________________

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))

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

Title of each class

Trading Symbol

Name of each exchange on which registered

Common stock, $0.001 par value

IVT

New York Stock Exchange

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 - Results of Operations and Financial Condition.

On October 27, 2026, InvenTrust Properties Corp. (the "Company") issued a press release announcing its results for the quarter ended September 30, 2026. The full text of the press release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.

On October 27, 2026, the Company posted on its website, at https://www.inventrustproperties.com/investor-relations/, certain supplemental information for the quarter ended September 30, 2026 (the "Third Quarter Supplemental"). A copy of the Third Quarter Supplemental is attached as Exhibit 99.2 to this Form 8-K and is incorporated herein by reference.

The information furnished under this Item 2.02, including Exhibit 99.1 and Exhibit 99.2, 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, or the Exchange Act, except as set forth by specific reference in such filing.

Item 9.01 - Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.

Description

99.1

Earnings Release of InvenTrust Properties Corp., dated as of October 27, 2026 (furnished pursuant to Item 2.02)

99.2

Third Quarter Supplemental (furnished pursuant to Item 2.02)

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

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.

Date:

October 27, 2026

INVENTRUST PROPERTIES CORP.

By:

/s/ Christy L. David

Name:

Christy L. David

Title:

Executive Vice President, Chief Operating Officer, General Counsel & Secretary

EX-99.1

Filename: q32026earningsrelease.htm · Sequence: 2

Document

CONTACT:

Dan Lombardo

Vice President of Investor Relations

630-570-0605

dan.lombardo@inventrustproperties.com

InvenTrust Properties Corp. Reports 2026 Third Quarter Results

DOWNERS GROVE, IL – October 27, 2026 – InvenTrust Properties Corp. (“InvenTrust” or the “Company”) (NYSE: IVT) today reported financial and operating results for the quarter ended September 30, 2026. For the three months ended September 30, 2026 and 2025, the Company reported Net Income of $19.4 million, or $0.25 per diluted share, and $6.0 million, or $0.08 per diluted share, respectively. For the nine months ended September 30, 2026 and 2025, the Company reported Net Income of $26.0 million, or $0.33 per diluted share, and $108.8 million, or $1.39 per diluted share, respectively.

Third Quarter 2026 Highlights:

•Nareit FFO of $0.53 per diluted share

•Core FFO of $0.50 per diluted share

•Same Property Net Operating Income (“NOI”) growth of 3.1%

•Leased Occupancy as of September 30, 2026 of 96.4%

•Executed 86 leases totaling approximately 549,000 square feet of GLA, of which 512,000 square feet was executed at a blended comparable lease spread of 14.2%

•Acquired one property, totaling approximately 169,000 square feet, for a purchase price of $34.0 million

“InvenTrust made meaningful progress during the quarter, converting signed leases into rent-paying occupancy and cash flow,” said DJ Busch, President and Chief Executive Officer of InvenTrust. “Our internal growth drivers, together with the earnings contribution from recent acquisitions, helped drive year-to-date Nareit FFO per-share growth of approximately 10%. As we look toward 2027, our signed-but-not-open leases, redevelopment activity and acquisition opportunities provide multiple avenues to grow the business and create long-term shareholder value.”

NET INCOME

•Net Income for the three months ended September 30, 2026 was $19.4 million, or $0.25 per diluted share, compared to $6.0 million, or $0.08 per diluted share, for the same period in 2025.

•Net Income for the nine months ended September 30, 2026 was $26.0 million, or $0.33 per diluted share, compared to $108.8 million, or $1.39 per diluted share, for the same period in 2025.

NAREIT FFO

•Nareit FFO for the three months ended September 30, 2026 was $41.5 million, or $0.53 per diluted share, compared to $38.4 million, or $0.49 per diluted share, for the same period in 2025.

•Nareit FFO for the nine months ended September 30, 2026 was $122.6 million, or $1.56 per diluted share, compared to $111.1 million, or $1.42 per diluted share, for the same period in 2025.

1 Earnings Release - Quarter Ended September 30, 2026

CORE FFO

•Core FFO for the three months ended September 30, 2026 was $39.0 million, or $0.50 per diluted share, compared to $36.7 million, or $0.47 per diluted share, for the same period in 2025.

•Core FFO for the nine months ended September 30, 2026 was $115.9 million, or $1.47 per diluted share, compared to $107.3 million, or $1.37 per diluted share, for the same period in 2025.

SAME PROPERTY NOI

•Same Property NOI for the three months ended September 30, 2026 was $50.4 million, a 3.1% increase, compared to the same period in 2025.

•Same Property NOI for the nine months ended September 30, 2026 was $144.8 million, a 3.4% increase, compared to the same period in 2025.

DIVIDEND

•For the quarter ended September 30, 2026, the Board of Directors declared a quarterly cash distribution of $0.25 per share, paid on October 15, 2026.

PORTFOLIO PERFORMANCE & INVESTMENT ACTIVITY

•As of September 30, 2026, the Company’s Leased Occupancy was 96.4%.

◦Anchor Leased Occupancy was 98.4% and Small Shop Leased Occupancy was 93.2%. Anchor Leased Occupancy increased 30 basis points and Small Shop Leased Occupancy was unchanged on a sequential basis compared to the previous quarter.

◦Leased to Economic Occupancy spread of 110 basis points, which equates to approximately $4.3 million of base rent on an annualized basis.

•Comparable leases signed in the third quarter generated a blended re-leasing spread of 14.2%, including 41.7% on new leases and 10.9% on renewals. Renewal spreads included 6.8% on option exercises and 16.0% on non-option renewals.

•Annualized Base Rent (“ABR”) per square foot (“PSF”) as of September 30, 2026 was $20.97, an increase of 3.4% compared to the same period in 2025. Anchor Tenant ABR PSF was $13.24 and Small Shop Tenant ABR PSF was $34.51 as of September 30, 2026.

•During the third quarter, the Company completed the following acquisition using available liquidity:

◦On July 1, 2026, the Company acquired New Garden Crossing, a 169,000 square foot community center anchored by Lowes Foods, in Greensboro, North Carolina, for a gross acquisition price of $34.0 million.

LIQUIDITY AND CAPITAL STRUCTURE

•InvenTrust had $509.5 million of total liquidity as of September 30, 2026, comprised of $29.5 million of cash and cash equivalents and $480.0 million of availability under its Revolving Credit Facility.

•InvenTrust has no debt maturing in 2026 and $26.0 million of debt maturing in 2027.

•The Company's weighted average interest rate on its debt as of September 30, 2026 was 4.70% and the weighted average remaining term was 4.1 years.

2 Earnings Release - Quarter Ended September 30, 2026

2026 GUIDANCE

InvenTrust has updated its 2026 guidance, as summarized in the following table.

(Unaudited, dollars in thousands, except per share amounts)

Current (1) (2)

Net Income per diluted share $0.31 — $0.33 $0.12 — $0.18

Nareit FFO per diluted share $2.05 — $2.07 $2.01 — $2.07

Core FFO per diluted share (3)

$1.94 — $1.96 $1.92 — $1.96

Same Property NOI (“SPNOI”) Growth 3.75% — 4.25% 3.25% — 4.25%

General and administrative $35,750 — $36,750 $35,750 — $36,750

Interest expense, net (4)

$44,000 — $44,500 ~ $45,000

Net investment activity (5)

$190,000 — $255,000 ~ $300,000

(1)The Company’s 2026 guidance excludes projections related to gains or losses on dispositions, gains or losses on debt transactions, and depreciation, amortization, and straight-line rent adjustments related to anticipated acquisitions.

(2)The Company’s 2026 guidance includes an expectation of uncollectibility, reflected as 30 - 70 basis points of expected total revenue.

(3)Core FFO per diluted share excludes amortization of market-lease intangibles and inducements, straight-line rent adjustments, gains or losses on debt transactions, amortization of debt discounts and financing costs, accretion of finance lease liability, depreciation and amortization of corporate assets, and non-operating income and expense.

(4)Interest expense, net, excludes amortization of debt discounts and financing costs, accretion of finance lease liability, and expected interest income of approximately $0.5 million.

(5)Net investment activity represents anticipated acquisition activity less disposition activity.

In addition to the foregoing assumptions, the Company's 2026 guidance incorporates several other assumptions that are subject to change and may be outside the control of the Company. If actual results vary from these assumptions, the Company's expectations may change. There can be no assurances that InvenTrust will achieve these results.

The following table reconciles the range of the Company's 2026 estimated net income per diluted share to estimated Nareit FFO and Core FFO per diluted share:

(Unaudited) Low End High End

Net income per diluted share $ 0.31 $ 0.33

Depreciation and amortization of real estate assets 1.96 1.96

Gain on sale of investment properties (0.22) (0.22)

Nareit FFO per diluted share 2.05 2.07

Amortization of market-lease intangibles and inducements, net (0.09) (0.09)

Straight-line rent adjustments, net (0.07) (0.07)

Amortization of debt discounts and financing costs 0.05 0.05

Depreciation and amortization of corporate assets 0.01 0.01

Non-operating income and expense, net (0.01) (0.01)

Core FFO per diluted share $ 1.94 $ 1.96

This earnings release does not include a reconciliation of forward-looking SPNOI to forward-looking GAAP Net Income because the Company is unable, without making unreasonable efforts, to provide a meaningful or reasonably accurate calculation or estimation of certain reconciling items which could be significant to the Company’s results.

EARNINGS CALL INFORMATION

Date: Wednesday, October 28, 2026

Time: 10:00 a.m. ET

Dial-in: (833) 461-5787 / Access Code 407-103-358

Webcast & Replay Link: https://events.q4inc.com/attendee/407103358

A webcast replay will be available shortly after the conclusion of the presentation using the webcast link above.

3 Earnings Release - Quarter Ended September 30, 2026

Definitions

NON-GAAP FINANCIAL MEASURES

This Earnings Release includes certain financial measures and other terms that are not in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) that management believes are helpful in understanding the Company’s business. These measures should not be considered as alternatives to, or more meaningful than, net income (calculated in accordance with GAAP) or other GAAP financial measures, as an indicator of financial performance and are not alternatives to, or more meaningful than, cash flow from operating activities (calculated in accordance with GAAP) as a measure of liquidity. Non-GAAP performance measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always be considered as supplemental financial results to those calculated in accordance with GAAP. The Company's computation of these non-GAAP performance measures may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to similarly titled measures presented by such other REITs. Investors are cautioned that items excluded from these non-GAAP performance measures are relevant to understanding and addressing financial performance. Reconciliations of the Company’s non-GAAP measures to the most directly comparable GAAP financial measures are included herein.

SAME PROPERTY NOI or SPNOI

Information provided on a same property basis includes the results of properties that were owned and operated for the entirety of both periods presented. NOI excludes general and administrative expenses, depreciation and amortization, other income and expense, net, impairment of real estate assets, gains (losses) from sales of properties, gains (losses) on extinguishment of debt, interest expense, net, lease termination income and expense, and GAAP rent adjustments such as amortization of market-lease intangibles, amortization of lease incentives, and straight-line rent adjustments (“GAAP Rent Adjustments”). The Company bifurcates NOI into Same Property NOI and NOI from other investment properties based on whether the retail properties meet the Company’s Same Property criteria. NOI from other investment properties includes adjustments for the Company’s captive insurance company.

NAREIT FUNDS FROM OPERATIONS (NAREIT FFO) and CORE FFO

The Company’s non-GAAP measure of Nareit Funds From Operations ("Nareit FFO"), based on the National Association of Real Estate Investment Trusts ("Nareit") definition, is net income (or loss) in accordance with GAAP, excluding gains (or losses) resulting from dispositions of properties, plus depreciation and amortization and impairment charges on depreciable real property. Core Funds From Operations (“Core FFO”) is an additional supplemental non-GAAP financial measure of the Company’s operating performance. In particular, Core FFO provides an additional measure to compare the operating performance of different REITs without having to account for certain remaining amortization assumptions within Nareit FFO and other unique revenue and expense items which some may consider not pertinent to measuring a particular company’s ongoing operating performance.

EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND AMORTIZATION (EBITDA) and ADJUSTED EBITDA

The Company’s non-GAAP measure of EBITDA is net income (or loss) in accordance with GAAP, excluding interest expense, net, income tax expense (or benefit), and depreciation and amortization. Adjusted EBITDA is an additional supplemental non-GAAP financial measure of the Company’s operating performance. In particular, Adjusted EBITDA provides an additional measure to compare the operating performance of different REITs without having to account for certain remaining amortization assumptions within EBITDA, certain gains or losses remaining within EBITDA, and other unique revenue and expense items which some may consider not pertinent to measuring a particular company's ongoing operating performance.

NET DEBT-TO-ADJUSTED EBITDA

Net Debt-to-Adjusted EBITDA is Net Debt divided by Adjusted EBITDA.

4 Earnings Release - Quarter Ended September 30, 2026

Financial Statements

Condensed Consolidated Balance Sheets

In thousands, except share amounts

As of September 30 As of December 31

2026 2025

Assets (unaudited)

Investment properties

Land $ 747,227 $ 702,147

Building and other improvements 2,478,598 2,295,852

Construction in progress 14,976 7,473

Total 3,240,801 3,005,472

Less accumulated depreciation (577,960) (525,830)

Net investment properties 2,662,841 2,479,642

Cash, cash equivalents, and restricted cash 36,704 40,518

Intangible assets, net 211,585 193,963

Accounts and rents receivable 44,784 37,471

Deferred costs and other assets, net 53,466 37,053

Total assets $ 3,009,380 $ 2,788,647

Liabilities

Debt, net $ 1,040,203 $ 825,881

Accounts payable and accrued expenses 60,897 48,291

Distributions payable 19,494 18,450

Intangible liabilities, net 77,396 68,475

Other liabilities 31,890 33,288

Total liabilities 1,229,880 994,385

Commitments and contingencies

Stockholders' Equity

Preferred stock, $0.001 par value, 40,000,000 shares authorized, none outstanding

— —

Common stock, $0.001 par value, 146,000,000 shares authorized,

77,978,431 shares issued and outstanding as of September 30, 2026 and

77,691,533 shares issued and outstanding as of December 31, 2025

78 78

Additional paid-in capital 5,738,889 5,736,652

Distributions in excess of accumulated net income (3,979,733) (3,947,229)

Accumulated comprehensive income 20,266 4,761

Total stockholders' equity 1,779,500 1,794,262

Total liabilities and stockholders' equity $ 3,009,380 $ 2,788,647

5 Earnings Release - Quarter Ended September 30, 2026

Financial Statements, continued

Condensed Consolidated Statements of Operations and Comprehensive Income

In thousands, except share and per share amounts, unaudited

Three months ended September 30 Nine months ended September 30

2026 2025 2026 2025

Income

Lease income, net $ 86,631 $ 74,019 $ 251,084 $ 220,538

Other property income 486 447 1,444 1,250

Total income 87,117 74,466 252,528 221,788

Operating expenses

Depreciation and amortization 39,731 32,734 114,776 94,086

Property operating 13,202 11,054 37,876 33,277

Real estate taxes 10,369 9,047 30,178 28,597

General and administrative 8,557 8,316 26,818 25,569

Total operating expenses 71,859 61,151 209,648 181,529

Other (expense) income

Interest expense, net (13,210) (8,969) (34,623) (25,637)

Gain on sale of investment properties 17,379 52 17,379 90,961

Other income and expense, net (14) 1,628 330 3,177

Total other (expense) income, net 4,155 (7,289) (16,914) 68,501

Net income $ 19,413 $ 6,026 $ 25,966 $ 108,760

Weighted-average common shares outstanding - basic 77,975,439 77,615,993 77,954,965 77,590,691

Weighted-average common shares outstanding - diluted 78,726,151 78,498,873 78,632,013 78,317,551

Net income per common share - basic $ 0.25 $ 0.08 $ 0.33 $ 1.40

Net income per common share - diluted $ 0.25 $ 0.08 $ 0.33 $ 1.39

Comprehensive income

Net income $ 19,413 $ 6,026 $ 25,966 $ 108,760

Unrealized gain (loss) on derivatives, net 18,932 (1,008) 20,287 (2,637)

Reclassification to net income (7,994) (2,316) (4,782) (6,851)

Comprehensive income $ 30,351 $ 2,702 $ 41,471 $ 99,272

6 Earnings Release - Quarter Ended September 30, 2026

Reconciliation of Non-GAAP Measures

In thousands

Same Property NOI

The following table presents the components of Same Property NOI:

Three months ended September 30 Nine months ended September 30

2026 2025 2026 2025

Income

Minimum base rent $ 46,411 $ 45,169 $ 132,829 $ 129,144

Real estate tax recoveries 8,569 8,125 24,512 24,395

Common area maintenance, insurance, and other recoveries 9,198 8,822 26,116 25,337

Ground rent income 4,852 4,741 14,500 14,167

Short-term and other lease income 993 849 3,106 2,714

Provision for estimated credit losses (163) (137) (562) (271)

Other property income 429 409 1,267 1,148

Total income 70,289 67,978 201,768 196,634

Operating Expenses

Property operating 10,712 10,458 30,527 30,140

Real estate taxes 9,214 8,657 26,414 26,365

Total operating expenses 19,926 19,115 56,941 56,505

Same Property NOI $ 50,363 $ 48,863 $ 144,827 $ 140,129

Net Income to Same Property NOI

The following table reconciles Net Income to Same Property NOI:

Three months ended September 30 Nine months ended September 30

2026 2025 2026 2025

Net income $ 19,413 $ 6,026 $ 25,966 $ 108,760

Adjustments to reconcile to non-GAAP measures:

Other income and expense, net 14 (1,628) (330) (3,177)

Interest expense, net 13,210 8,969 34,623 25,637

Gain on sale of investment properties (17,379) (52) (17,379) (90,961)

Depreciation and amortization 39,731 32,734 114,776 94,086

General and administrative 8,557 8,316 26,818 25,569

Adjustments to NOI (a) (3,727) (2,453) (10,691) (6,233)

NOI 59,819 51,912 173,783 153,681

NOI from other investment properties (9,456) (3,049) (28,956) (13,552)

Same Property NOI $ 50,363 $ 48,863 $ 144,827 $ 140,129

(a)Adjustments to NOI include lease termination income and expense and GAAP Rent Adjustments.

7 Earnings Release - Quarter Ended September 30, 2026

Reconciliation of Non-GAAP Measures, continued

In thousands, except share and per share amounts

Nareit FFO and Core FFO

The following table reconciles Net Income to Nareit FFO Applicable to Common Shares and Dilutive Securities and Core FFO Applicable to Common Shares and Dilutive Securities:

Three months ended September 30 Nine months ended September 30

2026 2025 2026 2025

Net income $ 19,413 $ 6,026 $ 25,966 $ 108,760

Depreciation and amortization of real estate assets 39,466 32,446 113,972 93,263

Gain on sale of investment properties (17,379) (52) (17,379) (90,961)

Nareit FFO Applicable to Common Shares and Dilutive Securities 41,500 38,420 122,559 111,062

Amortization of market-lease intangibles and inducements, net (2,063) (1,186) (6,014) (3,170)

Straight-line rent adjustments, net (1,622) (1,121) (3,802) (2,859)

Amortization of debt discounts and financing costs 923 736 2,632 2,076

Accretion of finance lease liability 51 49 153 60

Depreciation and amortization of corporate assets 265 288 804 823

Non-operating income and expense, net (a) (54) (484) (470) (725)

Core FFO Applicable to Common Shares and Dilutive Securities $ 39,000 $ 36,702 $ 115,862 $ 107,267

Weighted average common shares outstanding - basic 77,975,439 77,615,993 77,954,965 77,590,691

Dilutive effect of unvested restricted shares (b) 750,712 882,880 677,048 726,860

Weighted average common shares outstanding - diluted 78,726,151 78,498,873 78,632,013 78,317,551

Net income per diluted share $ 0.25 $ 0.08 $ 0.33 $ 1.39

Nareit FFO per diluted share $ 0.53 $ 0.49 $ 1.56 $ 1.42

Core FFO per diluted share $ 0.50 $ 0.47 $ 1.47 $ 1.37

(a)Reflects items which are not pertinent to measuring ongoing operating performance, such as miscellaneous and settlement income.

(b)For purposes of calculating non-GAAP per share measures, the Company applies the same denominator used in calculating diluted earnings per share in accordance with GAAP.

EBITDA and Adjusted EBITDA

The following table reconciles Net Income to EBITDA and Adjusted EBITDA:

Three months ended September 30 Nine months ended September 30

2026 2025 2026 2025

Net income $ 19,413 $ 6,026 $ 25,966 $ 108,760

Interest expense, net 13,210 8,969 34,623 25,637

Income tax expense 149 144 440 420

Depreciation and amortization 39,731 32,734 114,776 94,086

EBITDA 72,503 47,873 175,805 228,903

Gain on sale of investment properties (17,379) (52) (17,379) (90,961)

Amortization of market-lease intangibles and inducements, net (2,063) (1,186) (6,014) (3,170)

Straight-line rent adjustments, net (1,622) (1,121) (3,802) (2,859)

Non-operating income and expense, net (a) (54) (484) (470) (725)

Adjusted EBITDA $ 51,385 $ 45,030 $ 148,140 $ 131,188

(a)Reflects items which are not pertinent to measuring ongoing operating performance, such as miscellaneous and settlement income.

8 Earnings Release - Quarter Ended September 30, 2026

Financial Leverage Ratios

In thousands

Net Debt and Net Debt-to-Adjusted EBITDA

The following table calculates Net Debt and Net Debt-to-Adjusted EBITDA:

As of September 30 As of December 31

2026 2025

Net Debt

Outstanding Debt, net $ 1,040,203 $ 825,881

Less: Cash and cash equivalents (29,526) (34,973)

Net Debt $ 1,010,677 $ 790,908

Trailing 12 Months, Net Debt-to-Adjusted EBITDA

Net Debt $ 1,010,677 $ 790,908

Adjusted EBITDA 192,153 175,201

Net Debt-to-Adjusted EBITDA 5.3x 4.5x

Current Quarter Annualized, Net Debt-to-Adjusted EBITDA

Net Debt $ 1,010,677 $ 790,908

Adjusted EBITDA 205,540 176,052

Net Debt-to-Adjusted EBITDA 4.9x 4.5x

9 Earnings Release - Quarter Ended September 30, 2026

About InvenTrust Properties Corp.

InvenTrust Properties Corp. (the “Company,” "IVT," or "InvenTrust") is a premier Sun Belt, multi-tenant essential retail REIT that owns, leases, redevelops, acquires and manages grocery-anchored neighborhood and community centers as well as high-quality power centers that often have a grocery component. Management pursues the Company's business strategy by acquiring retail properties in Sun Belt markets, opportunistically disposing of retail properties, and maintaining a flexible capital structure. A trusted, local operator bringing real estate expertise to its tenant relationships, IVT has built a strong reputation with market participants across its portfolio. For more information, please visit www.inventrustproperties.com.

The enclosed information should be read in conjunction with the Company's filings with the U.S. Securities and Exchange Commission (“SEC”), including, but not limited to, the Company's Form 10-Qs filed quarterly and Form 10-Ks filed annually. Additionally, the enclosed information does not purport to disclose all items required under GAAP. The information provided in this earnings release is unaudited and includes non-GAAP measures (as discussed herein), 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 quarter ended September 30, 2026. The Company may, but assumes no obligation to, update information in this earnings release.

Forward-Looking Statements Disclaimer

Forward-Looking Statements in this earnings release, or made during the earnings call, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of InvenTrust's management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Any statements made in this earnings release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. These statements often include words such as "may," "should," “could,” "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "target," "project," "predict," "potential," "continue," "likely," "will," "forecast," "outlook," "guidance," "suggest," and variations of these terms and similar expressions, or the negative of these terms or similar expressions.

The following factors, among others, could cause actual results, financial position and timing of certain events to differ materially from those described in the forward-looking statements: interest rate movements; local, regional, national and global economic performance; the impact of inflation on the Company and on its tenants; competitive factors; the impact of e-commerce on the retail industry; future retailer store closings; retailer consolidation; retailers reducing store size; retailer bankruptcies; government policy changes, including the effects of tariffs and changes in global trade policies, on the overall state of the economy and on our and our tenants' business and operations and any material market changes and trends that could affect the Company’s business strategy. For further discussion of factors that could materially affect the outcome of management's forward-looking statements and IVT's future results and financial condition, see the Risk Factors included in the Company's most recent Annual Report on Form 10-K, as updated by any subsequent Quarterly Report on Form 10-Q, in each case as filed with the SEC. InvenTrust intends that such forward-looking statements be subject to the safe harbors created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, except as may be required by applicable law.

IVT cautions you not to place undue reliance on any forward-looking statements, which are made as of the date of this earnings release. IVT undertakes no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If IVT updates one or more forward-looking statements, no inference should be drawn that IVT will make additional updates with respect to those or other forward-looking statements.

Availability of Information on InvenTrust Properties Corp.'s Website and Social Media Channels

Investors and others should note that InvenTrust routinely announces material information to investors and the marketplace using U.S. Securities and Exchange Commission filings, press releases, public conference calls, webcasts and the InvenTrust investor relations website. The Company uses these channels as well as social media channels (e.g., the InvenTrust X account, x.com/inventrustprop); and the InvenTrust LinkedIn account (linkedin.com/company/inventrustproperties), as a means of disclosing information about the Company's business to colleagues, investors, and the public. While not all of the information that the Company posts to the InvenTrust investor relations website or on the Company’s social media channels is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in InvenTrust to review the information that it shares on inventrustproperties.com/investor-relations and on the Company’s social media channels.

10 Earnings Release - Quarter Ended September 30, 2026

EX-99.2

Filename: q32026supplemental.htm · Sequence: 3

Document

Table of Contents

Page No.

Introductory Notes i

Earnings Release iii

Financial Information

Summary Financial Information

Condensed Consolidated Balance Sheets

Condensed Consolidated Statements of Operations and Comprehensive Income

Condensed Consolidated Supplemental Details of Assets and Liabilities

Condensed Consolidated Supplemental Details of Operations

Reconciliation of Non-GAAP Measures

Same Property Net Operating Income

Nareit FFO and Core FFO

EBITDA and Adjusted EBITDA

Debt Allocation, Debt Payments and Maturities by Year, Covenants and

Financial Leverage Ratios

Supplemental Detail of Debt Maturities

Interest Rate Swaps

Portfolio and Leasing Overview

Markets and Tenant Size

Top 25 Tenants by Total ABR and Tenant Merchandise Mix

Comparable & Non-Comparable Lease Statistics

Tenant Lease Expirations

Acquisitions, Dispositions, Capital Investments, and Leasing Costs

Investment Summary

Development Pipeline

Property Summary

Components of Net Asset Value (NAV) as of September 30, 2026

Glossary of Terms

Introductory Notes

About InvenTrust Properties Corp.

The enclosed information should be read in conjunction with the Company's filings with the U.S. Securities and Exchange Commission (“SEC”), including, but not limited to, the Company's Form 10-Qs filed quarterly and Form 10-Ks filed annually. Additionally, the enclosed information does not purport to disclose all items required under U.S. Generally Accepted Accounting Principles (“GAAP”). The information provided in this supplemental is unaudited and includes non-GAAP measures (as discussed herein), 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 quarter ended September 30, 2026. The Company may, but assumes no obligation to, update information in this supplemental.

Forward-Looking Statements Disclaimer

Forward-Looking Statements in this supplemental, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of InvenTrust's management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Any statements made in this supplemental that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. These statements often include words such as "may," "should," “could,” "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "target," "project," "predict," "potential," "continue," "likely," "will," "forecast," "outlook," "guidance," "suggest," and variations of these terms and similar expressions, or the negative of these terms or similar expressions.

IVT cautions you not to place undue reliance on any forward-looking statements, which are made as of the date of this supplemental. IVT undertakes no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If IVT updates one or more forward-looking statements, no inference should be drawn that IVT will make additional updates with respect to those or other forward-looking statements.

Notice Regarding Non-GAAP Financial Measures

In addition to GAAP measures, this supplemental contains and refers to certain non-GAAP measures. Management does not consider the Company's non-GAAP measures included in the Glossary of Terms to be alternatives to measures required in accordance with GAAP. Certain non-GAAP measures should not be viewed as an alternative measure of IVT's financial performance as they may not reflect the operations of the entire portfolio, and they may not reflect the impact of general and administrative expenses, depreciation and amortization, interest expense, other income (expense), or the level of capital expenditures and leasing costs necessary to maintain the operating performance of IVT's properties that could materially impact IVT's results from operations. Additionally, certain non-GAAP measures should not be considered as an indication of IVT's liquidity, nor as an indication of funds available to cover IVT's cash needs, including IVT's ability to fund distributions, and may not be a useful measure of the impact of long-term operating performance on value if management does not continue to operate the business in the manner currently contemplated. Accordingly, non-GAAP measures should be reviewed in connection with other GAAP measurements, and should not be viewed as more prominent measures of performance than net income (loss) or cash flows from operations prepared in accordance with GAAP. Other REITs may use different methodologies for calculating similar non-GAAP measures, and accordingly, IVT's non-GAAP measures may not be comparable to other REITs. Reconciliations of the Company's non-GAAP measures to the most directly comparable GAAP financial measures are included on pages 6 and 7 and definitions of the Company's non-GAAP measures are included in the Glossary of Terms on page 22.

Supplemental - Quarter Ended September 30, 2026

Introductory Notes

Availability of Information on InvenTrust Properties Corp.'s Website and Social Media Channels

Investors and others should note that InvenTrust routinely announces material information to investors and the marketplace using U.S. Securities and Exchange Commission filings, press releases, public conference calls, webcasts and the InvenTrust investor relations website. The Company uses these channels as well as social media channels (e.g., the InvenTrust X account, x.com/inventrustprop); and the InvenTrust LinkedIn account (linkedin.com/company/inventrustproperties) as a means of disclosing information about the Company's business to colleagues, investors, and the public. While not all of the information that the Company posts to the InvenTrust investor relations website or on the Company’s social media channels is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in InvenTrust to review the information that it shares on inventrustproperties.com/investor-relations and on the Company’s social media channels.

Supplemental - Quarter Ended September 30, 2026

CONTACT:

Dan Lombardo

Vice President of Investor Relations

630-570-0605

dan.lombardo@inventrustproperties.com

InvenTrust Properties Corp. Reports 2026 Third Quarter Results

Third Quarter 2026 Highlights:

•Nareit FFO of $0.53 per diluted share

•Core FFO of $0.50 per diluted share

•Same Property Net Operating Income (“NOI”) growth of 3.1%

•Leased Occupancy as of September 30, 2026 of 96.4%

•Executed 86 leases totaling approximately 549,000 square feet of GLA, of which 512,000 square feet was executed at a blended comparable lease spread of 14.2%

•Acquired one property, totaling approximately 169,000 square feet, for a purchase price of $34.0 million

NET INCOME

•Net Income for the three months ended September 30, 2026 was $19.4 million, or $0.25 per diluted share, compared to $6.0 million, or $0.08 per diluted share, for the same period in 2025.

•Net Income for the nine months ended September 30, 2026 was $26.0 million, or $0.33 per diluted share, compared to $108.8 million, or $1.39 per diluted share, for the same period in 2025.

NAREIT FFO

•Nareit FFO for the three months ended September 30, 2026 was $41.5 million, or $0.53 per diluted share, compared to $38.4 million, or $0.49 per diluted share, for the same period in 2025.

•Nareit FFO for the nine months ended September 30, 2026 was $122.6 million, or $1.56 per diluted share, compared to $111.1 million, or $1.42 per diluted share, for the same period in 2025.

iii

Supplemental - Quarter Ended September 30, 2026

CORE FFO

•Core FFO for the three months ended September 30, 2026 was $39.0 million, or $0.50 per diluted share, compared to $36.7 million, or $0.47 per diluted share, for the same period in 2025.

•Core FFO for the nine months ended September 30, 2026 was $115.9 million, or $1.47 per diluted share, compared to $107.3 million, or $1.37 per diluted share, for the same period in 2025.

SAME PROPERTY NOI

•Same Property NOI for the three months ended September 30, 2026 was $50.4 million, a 3.1% increase, compared to the same period in 2025.

•Same Property NOI for the nine months ended September 30, 2026 was $144.8 million, a 3.4% increase, compared to the same period in 2025.

DIVIDEND

•For the quarter ended September 30, 2026, the Board of Directors declared a quarterly cash distribution of $0.25 per share, paid on October 15, 2026.

PORTFOLIO PERFORMANCE & INVESTMENT ACTIVITY

•As of September 30, 2026, the Company’s Leased Occupancy was 96.4%.

◦Leased to Economic Occupancy spread of 110 basis points, which equates to approximately $4.3 million of base rent on an annualized basis.

•During the third quarter, the Company completed the following acquisition using available liquidity:

LIQUIDITY AND CAPITAL STRUCTURE

•InvenTrust has no debt maturing in 2026 and $26.0 million of debt maturing in 2027.

•The Company's weighted average interest rate on its debt as of September 30, 2026 was 4.70% and the weighted average remaining term was 4.1 years.

Supplemental - Quarter Ended September 30, 2026

2026 GUIDANCE

InvenTrust has updated its 2026 guidance, as summarized in the following table.

(Unaudited, dollars in thousands, except per share amounts)

Current (1) (2)

Net Income per diluted share $0.31 — $0.33 $0.12 — $0.18

Nareit FFO per diluted share $2.05 — $2.07 $2.01 — $2.07

Core FFO per diluted share (3)

$1.94 — $1.96 $1.92 — $1.96

Same Property NOI (“SPNOI”) Growth 3.75% — 4.25% 3.25% — 4.25%

General and administrative $35,750 — $36,750 $35,750 — $36,750

Interest expense, net (4)

$44,000 — $44,500 ~ $45,000

Net investment activity (5)

$190,000 — $255,000 ~ $300,000

(2)The Company’s 2026 guidance includes an expectation of uncollectibility, reflected as 30 - 70 basis points of expected total revenue.

(4)Interest expense, net, excludes amortization of debt discounts and financing costs, accretion of finance lease liability, and expected interest income of approximately $0.5 million.

(5)Net investment activity represents anticipated acquisition activity less disposition activity.

The following table reconciles the range of the Company's 2026 estimated net income per diluted share to estimated Nareit FFO and Core FFO per diluted share:

(Unaudited) Low End High End

Net income per diluted share $ 0.31 $ 0.33

Depreciation and amortization of real estate assets 1.96 1.96

Gain on sale of investment properties (0.22) (0.22)

Nareit FFO per diluted share 2.05 2.07

Amortization of market-lease intangibles and inducements, net (0.09) (0.09)

Straight-line rent adjustments, net (0.07) (0.07)

Amortization of debt discounts and financing costs 0.05 0.05

Depreciation and amortization of corporate assets 0.01 0.01

Non-operating income and expense, net (0.01) (0.01)

Core FFO per diluted share $ 1.94 $ 1.96

Supplemental - Quarter Ended September 30, 2026

Summary Financial Information

In thousands, except share information and per square foot amounts

Three months ended September 30 Nine months ended September 30

2026 2025 2026 2025

Financial Results

Net income $ 19,413 $ 6,026 $ 25,966 $ 108,760

Net income per common share - basic 0.25 0.08 0.33 1.40

Net income per common share - diluted 0.25 0.08 0.33 1.39

Same Property NOI (page 6) 50,363 48,863 144,827 140,129

Same Property NOI growth 3.1% 3.4%

Nareit FFO (page 7) 41,500 38,420 122,559 111,062

Nareit FFO per diluted share 0.53 0.49 1.56 1.42

Core FFO (page 7) 39,000 36,702 115,862 107,267

Core FFO per diluted share 0.50 0.47 1.47 1.37

Adjusted EBITDA (page 7)

51,385 45,030 148,140 131,188

Distributions declared per common share 0.25 0.24 0.75 0.71

Aggregate distributions declared (as a % of Core FFO) 50.0 % 50.3 % 50.5 % 51.6 %

As of

September 30, 2026

As of

December 31, 2025 As of

December 31, 2024

Capital Information

Shares outstanding 77,978,431 77,691,533 77,450,794

Net Debt $ 1,010,677 $ 790,908 $ 653,020

Debt Metrics (trailing 12 months)

Adjusted EBITDA $ 192,153 $ 175,201 $ 158,009

Net Debt-to-Adjusted EBITDA 5.3x 4.5x 4.1x

Fixed charge coverage 4.7x 5.4x 4.5x

Net debt to real estate assets, excl property acc depr. 31.2% 26.3% 23.0%

Net debt to total assets, excl property acc depr. 28.2% 23.9% 20.7%

Debt Metrics (current quarter annualized)

Adjusted EBITDA $ 205,540 $ 176,052 $ 165,528

Net Debt-to-Adjusted EBITDA 4.9x 4.5x 3.9x

Distributions Paid Per Share Liquidity and Credit Facility

Q3 2026 $0.2500 Cash and cash equivalents $ 29,526

Q2 2026 $0.2500 Available under revolving credit facility 480,000

Q1 2026 $0.2377 Total $ 509,526

Q4 2025 $0.2377

Same Property Same Property Total

Three months ended September 30 Nine months ended September 30 Nine months ended September 30

2026 2025 2026 2025 2026 2025

Portfolio Metrics

No. of properties 66 66 62 62 78 71

GLA (square feet) 10,426 10,411 10,096 10,081 12,301 11,347

Economic Occupancy 95.0 % 95.4 % 94.9 % 95.4 % 95.3 % 95.6 %

Leased Occupancy 96.1 % 97.1 % 96.1 % 97.1 % 96.4 % 97.2 %

ABR PSF $20.84 $20.33 $20.77 $20.28 $20.97 $20.28

Supplemental - Quarter Ended September 30, 2026

Condensed Consolidated Balance Sheets

In thousands, except share and per share amounts

As of

September 30, 2026 December 31, 2025

Assets (unaudited)

Investment properties

Land $ 747,227 $ 702,147

Building and other improvements 2,478,598 2,295,852

Construction in progress 14,976 7,473

Total 3,240,801 3,005,472

Less accumulated depreciation (577,960) (525,830)

Net investment properties 2,662,841 2,479,642

Cash, cash equivalents, and restricted cash 36,704 40,518

Intangible assets, net 211,585 193,963

Accounts and rents receivable 44,784 37,471

Deferred costs and other assets, net 53,466 37,053

Total assets $ 3,009,380 $ 2,788,647

Liabilities

Debt, net $ 1,040,203 $ 825,881

Accounts payable and accrued expenses 60,897 48,291

Distributions payable 19,494 18,450

Intangible liabilities, net 77,396 68,475

Other liabilities 31,890 33,288

Total liabilities 1,229,880 994,385

Commitments and contingencies

Stockholders' Equity

Preferred stock, $0.001 par value, 40,000,000 shares authorized, none outstanding

— —

Common stock, $0.001 par value, 146,000,000 shares authorized,

77,978,431 shares issued and outstanding as of September 30, 2026 and

77,691,533 shares issued and outstanding as of December 31, 2025

78 78

Additional paid-in capital 5,738,889 5,736,652

Distributions in excess of accumulated net income (3,979,733) (3,947,229)

Accumulated comprehensive income 20,266 4,761

Total stockholders' equity 1,779,500 1,794,262

Total liabilities and stockholders' equity $ 3,009,380 $ 2,788,647

Supplemental - Quarter Ended September 30, 2026

Condensed Consolidated Statements of Operations and Comprehensive Income

In thousands, except share and per share information, unaudited

Three months ended September 30 Nine months ended September 30

2026 2025 2026 2025

Income

Lease income, net $ 86,631 $ 74,019 $ 251,084 $ 220,538

Other property income 486 447 1,444 1,250

Total income 87,117 74,466 252,528 221,788

Operating expenses

Depreciation and amortization 39,731 32,734 114,776 94,086

Property operating 13,202 11,054 37,876 33,277

Real estate taxes 10,369 9,047 30,178 28,597

General and administrative 8,557 8,316 26,818 25,569

Total operating expenses 71,859 61,151 209,648 181,529

Other (expense) income

Interest expense, net (13,210) (8,969) (34,623) (25,637)

Gain on sale of investment properties 17,379 52 17,379 90,961

Other income and expense, net (14) 1,628 330 3,177

Total other (expense) income, net 4,155 (7,289) (16,914) 68,501

Net income $ 19,413 $ 6,026 $ 25,966 $ 108,760

Weighted-average common shares outstanding - basic 77,975,439 77,615,993 77,954,965 77,590,691

Weighted-average common shares outstanding - diluted 78,726,151 78,498,873 78,632,013 78,317,551

Net income per common share - basic $ 0.25 $ 0.08 $ 0.33 $ 1.40

Net income per common share - diluted $ 0.25 $ 0.08 $ 0.33 $ 1.39

Comprehensive income

Net income $ 19,413 $ 6,026 $ 25,966 $ 108,760

Unrealized gain (loss) on derivatives, net 18,932 (1,008) 20,287 (2,637)

Reclassification to net income (7,994) (2,316) (4,782) (6,851)

Comprehensive income $ 30,351 $ 2,702 $ 41,471 $ 99,272

Supplemental - Quarter Ended September 30, 2026

Condensed Consolidated Supplemental Details of Assets and Liabilities

In thousands

As of

September 30, 2026 December 31, 2025

Cash, cash equivalents, and restricted cash

Cash and cash equivalents $ 29,526 $ 34,973

Restricted cash 7,178 5,545

Total $ 36,704 $ 40,518

Accounts and rents receivable

Base rent, recoveries, and other receivables $ 13,535 $ 9,624

Straight-line rent receivables 31,249 27,847

Total $ 44,784 $ 37,471

Deferred costs and other assets, net

Derivative assets $ 20,266 $ 5,196

Deferred leasing costs, net 17,437 16,240

Deferred costs, net 5,044 4,995

Other assets 4,539 4,741

Financing costs, net 3,285 4,342

Prepaid insurance premiums 1,593 —

Operating lease right of use assets, net 1,302 1,539

Total $ 53,466 $ 37,053

Other liabilities

Unearned lease income $ 9,706 $ 10,207

Security deposits 8,967 8,661

Deferred revenues 7,085 7,574

Other liabilities 4,318 4,282

Operating lease liabilities 1,814 2,129

Derivative liabilities — 435

Total $ 31,890 $ 33,288

Supplemental - Quarter Ended September 30, 2026

Condensed Consolidated Supplemental Details of Operations

In thousands

Three months ended September 30 Nine months ended September 30

2026 2025 2026 2025

Income

* Minimum base rent $ 55,480 $ 47,632 $ 160,396 $ 141,856

* Real estate tax recoveries 9,624 8,516 28,015 26,509

* Common area maintenance, insurance, and other recoveries 10,995 9,228 31,767 27,737

* Ground rent income 5,968 5,449 17,628 15,527

Amortization of market-lease intangibles and inducements, net 2,063 1,186 6,014 3,170

* Short-term and other lease income 1,082 859 3,339 3,084

Termination fee income 42 146 875 204

Straight-line rent adjustments, net 1,622 1,121 3,802 2,859

* Provision for estimated credit losses (245) (118) (752) (408)

Lease income, net 86,631 74,019 251,084 220,538

* Other property income 486 447 1,444 1,250

Total income $ 87,117 $ 74,466 $ 252,528 $ 221,788

Operating expenses

Depreciation and amortization $ 39,731 $ 32,734 $ 114,776 $ 94,086

* Repairs and maintenance 4,810 3,719 13,877 10,927

* Payroll, benefits, and office 2,634 2,532 8,114 7,897

* Utilities and waste removal 3,251 2,703 8,795 7,692

* Property insurance 1,338 1,266 3,889 4,182

* Security, legal, and other 1,169 834 3,201 2,579

Property operating expenses 13,202 11,054 37,876 33,277

* Real estate taxes 10,369 9,047 30,178 28,597

General and administrative 6,404 6,278 20,454 19,380

Stock-based compensation costs 2,836 2,711 8,449 8,195

Capitalized direct development compensation costs (683) (673) (2,085) (2,006)

General and administrative expense 8,557 8,316 26,818 25,569

Total operating expenses $ 71,859 $ 61,151 $ 209,648 $ 181,529

Interest expense, net

Term loans, including impact of derivatives $ 3,370 $ 3,370 $ 9,832 $ 10,083

Senior notes 6,643 3,202 13,045 9,604

Mortgages payable 1,258 1,062 3,772 2,913

Revolving credit facility, including facility fees 897 477 5,063 958

Capitalized interest (69) (65) (286) (227)

Interest on finance lease liability 137 138 412 170

Accretion of finance lease liability 51 49 153 60

Amortization of debt discounts and financing costs 923 736 2,632 2,076

Total interest expense, net $ 13,210 $ 8,969 $ 34,623 $ 25,637

Gain on sale of investment properties $ 17,379 $ 52 $ 17,379 $ 90,961

Other income and expense, net

Interest on cash and cash equivalents $ 81 $ 1,288 $ 300 $ 2,872

Income tax expense (149) (144) (440) (420)

Miscellaneous and settlement income

54 484 470 725

Total other income and expense, net $ (14) $ 1,628 $ 330 $ 3,177

* Component of Net Operating Income

Supplemental - Quarter Ended September 30, 2026

Reconciliation of Non-GAAP Measures

In thousands

Same Property NOI

The following table presents the components of Same Property NOI:

Three months ended September 30 Nine months ended September 30

2026 2025 2026 2025

Income

Minimum base rent $ 46,411 $ 45,169 $ 132,829 $ 129,144

Real estate tax recoveries 8,569 8,125 24,512 24,395

Common area maintenance, insurance, and other recoveries 9,198 8,822 26,116 25,337

Ground rent income 4,852 4,741 14,500 14,167

Short-term and other lease income 993 849 3,106 2,714

Provision for estimated credit losses (163) (137) (562) (271)

Other property income 429 409 1,267 1,148

Total income 70,289 67,978 201,768 196,634

Operating Expenses

Property operating 10,712 10,458 30,527 30,140

Real estate taxes 9,214 8,657 26,414 26,365

Total operating expenses 19,926 19,115 56,941 56,505

Same Property NOI $ 50,363 $ 48,863 $ 144,827 $ 140,129

Same Property NOI Growth 3.1 % 3.4 %

Same Property Count 66 62

Net Income to Same Property NOI

The following table reconciles Net Income to Same Property NOI:

Three months ended September 30 Nine months ended September 30

2026 2025 2026 2025

Net income $ 19,413 $ 6,026 $ 25,966 $ 108,760

Adjustments to reconcile to non-GAAP measures:

Other income and expense, net 14 (1,628) (330) (3,177)

Interest expense, net 13,210 8,969 34,623 25,637

Gain on sale of investment properties (17,379) (52) (17,379) (90,961)

Depreciation and amortization 39,731 32,734 114,776 94,086

General and administrative 8,557 8,316 26,818 25,569

Adjustments to NOI (a) (3,727) (2,453) (10,691) (6,233)

NOI 59,819 51,912 173,783 153,681

NOI from other investment properties (9,456) (3,049) (28,956) (13,552)

Same Property NOI $ 50,363 $ 48,863 $ 144,827 $ 140,129

(a)Adjustments to NOI include lease termination income and expense and GAAP Rent Adjustments.

Supplemental - Quarter Ended September 30, 2026

Reconciliation of Non-GAAP Measures, continued

In thousands, except share and per share amounts

Nareit FFO and Core FFO

The following table reconciles Net Income to Nareit FFO Applicable to Common Shares and Dilutive Securities and Core FFO Applicable to Common Shares and Dilutive Securities:

Three months ended September 30 Nine months ended September 30

2026 2025 2026 2025

Net income $ 19,413 $ 6,026 $ 25,966 $ 108,760

Depreciation and amortization of real estate assets 39,466 32,446 113,972 93,263

Gain on sale of investment properties (17,379) (52) (17,379) (90,961)

Nareit FFO Applicable to Common Shares and Dilutive Securities 41,500 38,420 122,559 111,062

Amortization of market-lease intangibles and inducements, net (2,063) (1,186) (6,014) (3,170)

Straight-line rent adjustments, net (1,622) (1,121) (3,802) (2,859)

Amortization of debt discounts and financing costs 923 736 2,632 2,076

Accretion of finance lease liability 51 49 153 60

Depreciation and amortization of corporate assets 265 288 804 823

Non-operating income and expense, net (a) (54) (484) (470) (725)

Core FFO Applicable to Common Shares and Dilutive Securities $ 39,000 $ 36,702 $ 115,862 $ 107,267

Weighted average common shares outstanding - basic 77,975,439 77,615,993 77,954,965 77,590,691

Dilutive effect of unvested restricted shares (b) 750,712 882,880 677,048 726,860

Weighted average common shares outstanding - diluted 78,726,151 78,498,873 78,632,013 78,317,551

Net income per diluted share $ 0.25 $ 0.08 $ 0.33 $ 1.39

Nareit FFO per diluted share $ 0.53 $ 0.49 $ 1.56 $ 1.42

Core FFO per diluted share $ 0.50 $ 0.47 $ 1.47 $ 1.37

(a)Reflects items which are not pertinent to measuring ongoing operating performance, such as miscellaneous and settlement income.

(b)For purposes of calculating non-GAAP per share measures, the Company applies the same denominator used in calculating diluted earnings per share in accordance with GAAP.

EBITDA and Adjusted EBITDA

The following table reconciles Net Income to EBITDA and Adjusted EBITDA:

Three months ended September 30 Nine months ended September 30

2026 2025 2026 2025

Net income $ 19,413 $ 6,026 $ 25,966 $ 108,760

Interest expense, net 13,210 8,969 34,623 25,637

Income tax expense 149 144 440 420

Depreciation and amortization 39,731 32,734 114,776 94,086

EBITDA 72,503 47,873 175,805 228,903

Gain on sale of investment properties (17,379) (52) (17,379) (90,961)

Amortization of market-lease intangibles and inducements, net (2,063) (1,186) (6,014) (3,170)

Straight-line rent adjustments, net (1,622) (1,121) (3,802) (2,859)

Non-operating income and expense, net (a) (54) (484) (470) (725)

Adjusted EBITDA $ 51,385 $ 45,030 $ 148,140 $ 131,188

(a)Reflects items which are not pertinent to measuring ongoing operating performance, such as miscellaneous and settlement income.

Supplemental - Quarter Ended September 30, 2026

Debt Allocation, Debt Payments and Maturities by Year, Covenants and Financial Leverage Ratios

In thousands

Debt Allocation

Balance as of

September 30, 2026

Weighted Average

Interest Rate Weighted Average

Years to Maturity

Fixed rate secured debt $ 117,029 4.28% 2.2

Fixed rate unsecured debt 900,000 4.75% 4.4

Variable rate revolving credit facility 20,000 4.96% 2.3

Total secured and unsecured debt 1,037,029 4.70% 4.1

Finance lease liability 11,235

Debt discounts and financing costs, net (8,061)

Total Debt, net $ 1,040,203

Debt Payments and Maturities by Year

Maturity Year Mortgage Payments Mortgage Maturities Term Loan &

Senior Notes Revolving

Credit Facility Total

Remaining 2026 $ 197 $ — $ — $ — $ 197

2027 810 26,000 — — 26,810

2028 495 21,321 — — 21,816

2029 449 61,750 200,000 20,000 282,199

2030 154 5,853 200,000 — 206,007

Thereafter — — 500,000 — 500,000

Total 2,105 114,924 900,000 20,000 1,037,029

Finance lease liability 11,235

Debt discounts and financing costs, net (8,061)

Total $ 1,040,203

Debt Covenants

For the quarter ended

Description Unsecured Debt Covenants Q3 2026 Q2 2026 Q1 2026 Q4 2025

Leverage Ratio < 60.0% 28.0% 29.2% 26.8% 24.2%

Fixed Charge Coverage Ratio > 1.50 4.6 5.0 5.1 5.2

Maximum Secured Recourse Debt < 10% of Total Asset Value —% —% —% —%

Unsecured Interest Coverage Ratio > 1.75 5.2 6.0 6.6 6.9

Unsecured Leverage Ratio < 60% 27.2% 28.9% 25.8% 23.0%

Financial Leverage Ratios

The following table calculates Net Debt and Net Debt-to-Adjusted EBITDA:

As of September 30 As of December 31

2026 2025

Net Debt:

Outstanding Debt, net $ 1,040,203 $ 825,881

Less: Cash and cash equivalents (29,526) (34,973)

Net Debt $ 1,010,677 $ 790,908

Trailing 12 Months, Net Debt-to-Adjusted EBITDA

Net Debt $ 1,010,677 $ 790,908

Adjusted EBITDA 192,153 175,201

Net Debt-to-Adjusted EBITDA 5.3x 4.5x

Current Quarter Annualized, Net Debt-to-Adjusted EBITDA

Net Debt $ 1,010,677 $ 790,908

Adjusted EBITDA 205,540 176,052

Net Debt-to-Adjusted EBITDA 4.9x 4.5x

Supplemental - Quarter Ended September 30, 2026

Supplemental Detail of Debt Maturities

Unaudited, Dollars in thousands

Supplemental Detail of Debt Maturities

Maturity Interest Rate Balance

Mortgages Payable

Escarpment Village Jul-27 3.86% $ 26,000

Asheville Market Mar-28 4.92% 21,879

Daniels Marketplace Jul-29 4.34% 30,250

Shops at Arbor Trails Dec-29 4.12% 31,500

Plaza Escondida May-30 4.24% 7,400

Total 117,029

Term Loan

$200.0 million 5 years Aug-30 4.50% (a) 100,000

$200.0 million 5.5 years Feb-31 2.63% (b) 50,000

$200.0 million 5.5 years Feb-31 2.69% (b) 50,000

$200.0 million 5.5 years Feb-31 4.84% (b) 100,000

Total 400,000

Senior Notes

2022 Senior Notes

$150.0 million Series A Notes Aug-29 5.07% 150,000

$100.0 million Series B Notes Aug-32 5.20% 100,000

2026 Senior Notes

$50.0 million Series A Notes Jun-29 5.09% 50,000

$100.0 million Series B Notes Jun-31 5.32% 100,000

$100.0 million Series C Notes Jun-33 5.60% 100,000

Total 500,000

Revolving Credit Facility

$500.0 million total capacity Jan-29 1M SOFR + 1.05% (c) 20,000

Total secured and unsecured debt 4.70% $ 1,037,029

Finance Lease Liability

West Ashley Station Ground Lease Jan-92 11,235

Total Debt $ 1,048,264

(a)On September 22, 2026, the Company elected Daily Simple SOFR in place of 1-Month Term SOFR for its $200 million term loan maturing August 26, 2030. Concurrently, existing swaps expired and its $200 million notional forward-starting Daily Simple SOFR swaps became effective, fixing the interest rate.

(b)Interest rates reflect the fixed rates achieved through the Company's effective interest rate swaps terminating on March 22, 2027, at which point the weighted average fixed interest rate will become 4.58%.

(c)As of September 30, 2026, 1-Month Term SOFR was 3.91%. An additional annual facility fee of 0.15% applies to entire revolving credit facility capacity.

Supplemental - Quarter Ended September 30, 2026

Interest Rate Swaps

Unaudited, Dollars in thousands

Interest Rate Swaps

As of September 30, 2026, the Company is party to five effective interest rate swap agreements:

Effective

Interest Rate Swaps Effective Date Termination Date InvenTrust Receives InvenTrust Pays Fixed Rate of Fixed Rate

Achieved (a) Notional

Amount

5.5 year Term Loan 4/3/23 3/22/27 1-Month SOFR 3.69% 4.84% $ 100,000

5.5 year Term Loan 6/21/24 3/22/27 1-Month SOFR 1.54% 2.69% 50,000

5.5 year Term Loan 6/21/24 3/22/27 1-Month SOFR 1.48% 2.63% 50,000

5 year Term Loan 9/22/26 8/26/30 Daily SOFR 3.35% 4.50% 100,000

(a)Interest rates reflect the Company's current credit spread of 1.15%.

As of September 30, 2026, the Company is party to two forward-starting interest rate swap agreements:

Forward-Starting

Interest Rate Swaps Effective Date Termination Date InvenTrust

Receives InvenTrust Pays

Fixed Rate of Fixed Rate

Achieved (a) Notional

Amount

5.5 year Term Loan 3/22/27 2/24/31 Daily SOFR 3.42% 4.57% $ 100,000

5.5 year Term Loan 3/22/27 2/24/31 Daily SOFR 3.43% 4.58% 100,000

(a)Interest rates reflect the Company's current credit spread of 1.15%.

Supplemental - Quarter Ended September 30, 2026

Markets and Tenant Size

GLA and dollar amounts in thousands, except per square foot amounts

Market No. of Properties Leased Occupancy ABR ABR PSF ABR as

% of Total GLA GLA as

% of Total

Austin-Round Rock, TX 8 98.0 % $ 34,964 $ 17.56 14.3 % 2,092 17.0 %

Atlanta, GA 10 98.0 % 22,906 22.03 9.4 % 1,076 8.7 %

Miami-Fort Lauderdale-Miami Beach, FL 3 98.0 % 20,930 24.98 8.5 % 859 7.0 %

Houston-Sugar Land-Baytown, TX 5 95.0 % 19,954 17.17 8.1 % 1,234 10.0 %

Dallas-Fort Worth-Arlington, TX 7 96.9 % 19,351 21.29 7.9 % 941 7.6 %

Charlotte-Gastonia-Concord, NC 7 97.4 % 17,725 23.60 7.2 % 781 6.3 %

Raleigh-Cary-Durham, NC 5 97.1 % 13,758 20.96 5.6 % 688 5.6 %

Richmond, VA 3 97.5 % 12,627 17.62 5.2 % 774 6.3 %

Charleston-Berkeley-Dorchester, SC 4 98.5 % 10,484 27.67 4.3 % 388 3.2 %

Tampa-St. Petersburg, FL 3 86.4 % 10,465 16.33 4.3 % 744 6.0 %

Orlando-Kissimmee, FL 4 95.6 % 10,269 26.58 4.2 % 417 3.4 %

San Antonio, TX 3 94.9 % 9,618 28.90 3.9 % 353 2.9 %

Cape Coral-Fort Myers, FL 3 98.2 % 8,225 22.02 3.4 % 380 3.1 %

Phoenix, AZ 4 98.5 % 7,674 26.48 3.1 % 294 2.4 %

Washington D.C., MD 2 93.0 % 6,404 38.00 2.6 % 181 1.5 %

Nashville, TN 1 97.3 % 5,922 18.79 2.4 % 324 2.6 %

Knoxville, TN 1 98.6 % 3,450 21.63 1.4 % 162 1.3 %

Asheville, NC 1 94.1 % 2,446 20.44 1.0 % 130 1.1 %

Greensboro-High Point, NC 1 100 % 2,399 14.20 1.0 % 169 1.4 %

Savannah, GA 1 99.2 % 2,093 19.90 0.9 % 106 0.9 %

Los Angeles, CA 1 79.5 % 1,766 19.87 0.7 % 117 1.0 %

Tucson, AZ 1 97.4 % 1,532 17.26 0.6 % 91 0.7 %

Total 78 96.4 % $ 244,962 $ 20.97 100 % 12,301 100 %

Market No. of Properties Leased Occupancy ABR ABR PSF ABR as

% of Total GLA GLA as

% of Total

Texas 23 96.7 % $ 83,887 $ 19.09 34.2 % 4,620 37.5 %

Florida 13 94.0 % 49,889 22.29 20.4 % 2,400 19.5 %

North Carolina 14 97.3 % 36,328 21.42 14.8 % 1,768 14.4 %

Georgia 11 98.1 % 24,999 21.84 10.3 % 1,182 9.6 %

Virginia 3 97.5 % 12,627 17.62 5.2 % 774 6.3 %

South Carolina 4 98.5 % 10,484 27.67 4.3 % 388 3.2 %

Tennessee 2 97.7 % 9,372 19.75 3.8 % 486 3.9 %

Arizona 5 98.2 % 9,206 24.32 3.7 % 385 3.1 %

Maryland 2 93.0 % 6,404 38.00 2.6 % 181 1.5 %

California 1 79.5 % 1,766 19.87 0.7 % 117 1.0 %

Total 78 96.4 % $ 244,962 $ 20.97 100 % 12,301 100 %

Tenant type Economic Occupancy Leased Occupancy ABR ABR PSF GLA

20,000 SF+ (a)

98.6 % 99.1 % $ 75,735 $ 11.99 6,448

10,000 - 19,999 SF (a)

94.5 % 94.5 % 22,730 20.28 1,185

5,000 - 9,999 SF (b)

90.5 % 94.1 % 25,915 28.16 1,017

1 - 4,999 SF (b)

91.1 % 92.9 % 120,582 36.27 3,651

Total 95.3 % 96.4 % $ 244,962 $ 20.97 12,301

Anchor Tenants (a)

98.0 % 98.4 % $ 98,465 $ 13.24 7,633

Small Shop Tenants (b)

91.0 % 93.2 % $ 146,497 $ 34.51 4,668

(a)Tenants with square footage greater than or equal to 10,000 square feet are considered Anchor Tenants.

(b)Tenants with square footage less than 10,000 square feet are considered Small Shop Tenants.

Supplemental - Quarter Ended September 30, 2026

Top 25 Tenants by Total ABR and Tenant Merchandise Mix

In thousands

Parent Name Tenant Name/Count Credit Rating (a) No. of Leases ABR % of Total ABR GLA % of Total GLA

1 Kroger Kroger 6 / Harris Teeter 5 BBB 11 $ 7,555 3.1 % 720 5.9 %

2 Publix Super Markets, Inc. Publix 13 / Publix Liquor 3 N/A 16 7,382 3.0 % 629 5.1 %

3 TJX Companies Marshalls 10 / HomeGoods 6 /

TJ Maxx 3 / Homesense 1 A 20 6,778 2.8 % 554 4.5 %

4 Amazon, Inc. Whole Foods Market 8 AA 8 5,023 2.1 % 320 2.6 %

5 Albertsons Tom Thumb 2 / Market Street 2 /

Safeway 1 / Albertsons 1 BB+ 6 4,400 1.8 % 365 2.9 %

6 H-E-B H-E-B 4 / H-E-B Staff Office 1 N/A 5 4,385 1.8 % 479 3.9 %

7 Trader Joe's N/A 8 3,216 1.3 % 103 0.8 %

8 Dick's Sporting Goods, Inc. Dick's Sporting Goods 3 /

Going, Going, Gone! 1 / Golf Galaxy 1 BBB 5 3,156 1.3 % 237 1.9 %

9 Apollo Global Management, Inc. Michaels 9 B 9 2,973 1.2 % 211 1.7 %

10 Nordstrom Inc. Nordstrom Rack 4 / Nordstrom 1 BB 5 2,718 1.1 % 146 1.2 %

11 Ross Dress For Less Ross Dress for Less 6 / dd's Discounts 1 A- 7 2,717 1.1 % 201 1.6 %

12 Wegmans N/A 2 2,603 1.1 % 242 2.0 %

13 BC Partners PetSmart 7 B+ 7 2,521 1.0 % 145 1.2 %

14 Best Buy BBB+ 4 2,420 1.0 % 138 1.1 %

15 Ulta Beauty Inc. N/A 8 2,086 0.9 % 82 0.7 %

16 EOS Fitness N/A 3 1,885 0.8 % 102 0.8 %

17 Kingswood Capital Management World Market 7 N/A 7 1,853 0.8 % 128 1.0 %

18 Petco Health and Wellness Company, Inc. B 7 1,807 0.7 % 93 0.8 %

19 Costco Wholesale AA 2 1,735 0.7 % 298 2.4 %

20 Bank of America A- 6 1,735 0.7 % 34 0.3 %

21 Burlington BB+ 4 1,724 0.7 % 127 1.0 %

22 Crunch Fitness N/A 5 1,666 0.7 % 206 1.7 %

23 Lowes Foods Lowes Foods 2 / Lowes Fuel 1 N/A 3 1,665 0.7 % 106 0.9 %

24 The Gap, Inc. Old Navy 6 BB+ 6 1,641 0.7 % 93 0.8 %

25 Five Below, Inc. N/A 8 1,555 0.6 % 74 0.6 %

Totals 172 $ 77,199 31.7 % 5,833 47.4 %

(a) Reflects the most recently available S&P credit rating.

Tenant Merchandise Mix

Tenant Category ABR % of Total ABR

Grocery / Drug $ 42,614 17.4 %

Quick Service Restaurants 28,913 11.8 %

Personal Health and Beauty Services 26,525 10.8 %

Medical 23,769 9.7 %

Full Service Restaurants 22,228 9.1 %

Off Price 15,439 6.3 %

Apparel / Accessories 14,185 5.8 %

Fitness 11,668 4.8 %

Banks 9,622 3.9 %

Hobby / Sports 9,200 3.8 %

Pets 9,080 3.7 %

Other 6,741 2.7 %

Office / Communications 6,499 2.7 %

Home 5,814 2.4 %

Other Essential Retail / Services 4,816 2.0 %

Office (Non-Financial, Non-Medical) 3,275 1.3 %

Entertainment 2,516 1.0 %

Hardware / Auto 2,058 0.8 %

Total $ 244,962 100 %

Supplemental - Quarter Ended September 30, 2026

Comparable and Non-Comparable Lease Statistics

GLA in thousands

The Company's portfolio had 1,027 thousand square feet expiring during the nine months ended September 30, 2026, of which 914 thousand square feet was re-leased. This achieved a retention rate of approximately 89%. The following table summarizes the activity for leases that were executed during the nine months ended September 30, 2026.

No. of Leases Executed GLA New Contractual Rent

($PSF) (a) Prior Contractual Rent

($PSF) (a) % Change over Prior Lease Rent (a) Weighted Average Lease Term (Years) Tenant Improvement Allowance

($ PSF) Lease

Commissions

($ PSF)

All Tenants

Comparable

Renewal Leases (b) 172 1,060 $22.68 $20.70 9.6% 5.8 $1.26 $0.01

Comparable

New Leases (b) 22 78 32.74 24.79 32.1% 9.6 12.93 16.25

Non-Comparable

Renewal and New Leases 32 203 24.23 N/A N/A 11.9 49.72 4.37

Total 226 1,341 $23.37 $20.98 11.4% 7.0 $9.29 $1.61

Anchor Tenants

Comparable

Renewal Leases (b) 24 664 $14.94 $13.89 7.6% 6.0 $1.83 —

Comparable

New Leases (b) 1 30 24.17 14.00 72.6% 10.5 — $16.23

Non-Comparable

Renewal and New

Leases 3 134 19.23 N/A N/A 13.5 56.38 —

Total 28 828 $15.34 $13.89 10.4% 7.4 $10.61 $0.59

Small Shop Tenants

Comparable

Renewal Leases (b) 148 396 $35.69 $32.12 11.1% 5.5 $0.30 $0.02

Comparable

New Leases (b) 21 48 38.10 31.55 20.8% 9.0 21.04 16.27

Non-Comparable

Renewal and New Leases 29 69 33.93 N/A N/A 8.7 36.79 12.85

Total 198 513 $35.95 $32.06 12.1% 6.2 $7.16 $3.27

(a)Non-comparable leases are not included in totals.

(b)Comparable leases are leases that meet all of the following criteria: terms greater than or equal to one year, unit was vacant less than one year prior to executed lease, square footage of unit remains unchanged or within 10% of prior unit square footage, and has a rent structure consistent with the previous tenant.

Supplemental - Quarter Ended September 30, 2026

Comparable and Non-Comparable Lease Statistics, continued

GLA in thousands

The following table summarizes the activity for leases that were executed during the trailing four quarters ended September 30, 2026.

No. of Leases Executed GLA New Contractual Rent

($PSF) Prior Contractual Rent

($PSF) % Change over Prior Lease Rent Weighted Average Lease Term (Years) Tenant Improvement Allowance

($ PSF) Lease

Commissions

($ PSF)

Comparable Leases

Total Renewals and New Leases

Q3 2026 77 512 $22.58 $19.77 14.2% 6.6 $3.33 $1.61

Q2 2026 62 377 22.89 21.09 8.5% 5.7 1.03 0.81

Q1 2026 55 248 25.73 23.29 10.5% 5.6 1.00 0.58

Q4 2025 60 314 25.28 22.16 14.1% 5.7 3.01 1.32

Total 254 1,451 $23.78 $21.23 12.0% 6.0 $2.27 $1.16

Renewals

Q3 2026 67 460 $21.75 $19.62 10.9% 6.3 $2.80 $0.02

Q2 2026 56 361 22.25 20.63 7.9% 5.5 0.09 —

Q1 2026 49 239 25.14 22.87 9.9% 5.5 0.06 —

Q4 2025 49 291 23.80 20.88 14.0% 5.4 0.44 —

Total 221 1,351 $22.92 $20.74 10.5% 5.7 $1.08 $0.01

New Leases

Q3 2026 10 52 $29.89 $21.10 41.7% 9.9 $7.96 $15.56

Q2 2026 6 16 37.16 31.30 18.7% 9.6 21.87 18.76

Q1 2026 6 9 41.19 34.37 19.8% 7.9 25.54 15.79

Q4 2025 11 23 43.95 38.18 15.1% 9.9 35.28 17.85

Total 33 100 $35.31 $27.87 26.7% 9.7 $18.07 $16.62

Non-Comparable Leases

Q3 2026 9 37 $26.18 6.7 $31.40 $6.18

Q2 2026 14 87 26.35 16.0 53.53 5.80

Q1 2026 9 80 21.02 9.8 53.94 1.98

Q4 2025 19 36 35.39 6.8 21.53 10.92

Total 51 240 $25.91 11.1 $45.46 $5.36

Supplemental - Quarter Ended September 30, 2026

Tenant Lease Expirations

GLA and ABR in thousands, except per square foot amounts

Lease

Expiration Year No. of

Expiring

Leases GLA of

Expiring Leases Percent of

Total GLA of

Expiring Leases ABR of

Expiring Leases (a) Percent of

Total ABR Expiring

ABR PSF (a)

Anchor Tenants

2026 1 18 0.2 % $ 324 0.3 % $18.00

2027 18 598 8.0 % 7,764 7.4 % 12.98

2028 26 666 8.9 % 9,926 9.4 % 14.90

2029 32 957 12.8 % 12,119 11.5 % 12.66

2030 29 954 12.7 % 11,933 11.3 % 12.51

2031 22 764 10.2 % 9,663 9.2 % 12.65

2032 30 938 12.5 % 13,091 12.4 % 13.96

2033 9 260 3.5 % 3,445 3.3 % 13.25

2034 15 624 8.3 % 8,666 8.2 % 13.89

2035 7 302 4.0 % 4,726 4.5 % 15.65

Thereafter 35 1,394 18.8 % 23,555 22.2 % 16.90

Other (b)

1 11 0.1 % 346 0.3 % 31.45

Totals 225 7,486 100 % $ 105,558 100 % $14.10

Vacant space 147

Total 7,633

Small Shop Tenants

2026 30 67 1.6 % $ 2,225 1.4 % $33.21

2027 192 431 10.2 % 14,842 9.2 % 34.44

2028 241 594 14.0 % 20,402 12.6 % 34.35

2029 241 635 15.0 % 22,917 14.2 % 36.09

2030 209 518 12.2 % 19,093 11.8 % 36.86

2031 220 612 14.4 % 22,531 13.9 % 36.82

2032 130 383 9.0 % 13,972 8.6 % 36.48

2033 76 217 5.1 % 9,147 5.7 % 42.15

2034 92 253 6.0 % 10,982 6.8 % 43.41

2035 90 251 5.9 % 11,620 7.2 % 46.29

Thereafter 95 265 6.2 % 13,327 8.3 % 50.29

Other (b)

9 19 0.4 % 564 0.3 % 29.68

Totals 1,625 4,245 100 % $ 161,622 100 % $38.07

Vacant space 423

Total 4,668

Total

2026 31 85 0.7 % $ 2,549 1.0 % $29.99

2027 210 1,029 8.8 % 22,606 8.5 % 21.97

2028 267 1,260 10.7 % 30,328 11.4 % 24.07

2029 273 1,592 13.6 % 35,036 13.1 % 22.01

2030 238 1,472 12.5 % 31,026 11.6 % 21.08

2031 242 1,376 11.7 % 32,194 12.0 % 23.40

2032 160 1,321 11.3 % 27,063 10.1 % 20.49

2033 85 477 4.1 % 12,592 4.7 % 26.40

2034 107 877 7.5 % 19,648 7.4 % 22.40

2035 97 553 4.7 % 16,346 6.1 % 29.56

Thereafter 130 1,659 14.1 % 36,882 13.8 % 22.23

Other (b)

10 30 0.3 % 910 0.3 % 30.33

Totals 1,850 11,731 100 % $ 267,180 100 % $22.78

Vacant space 570

Total 12,301

(a)Expiring ABR and ABR PSF reflect ABR at the time of lease expiration.

(b)Other lease expirations include the GLA, ABR and ABR PSF of month-to-month leases.

Supplemental - Quarter Ended September 30, 2026

Acquisitions, Dispositions, Capital Investments, and Leasing Costs

Dollars and GLA in thousands

Acquisitions

Month Property Market GLA Acquisition Price Leased Occ. (a) Major Anchors (b)

Feb-26 Marketplace at Hudson Station Phoenix, AZ 60 $ 31,250 100%

Fry's Marketplace*, EOS Fitness

Feb-26 Nashville West Nashville, TN 324 88,000 98.0%

Costco Wholesale*, Publix*, Target*, Best Buy, Books-A-Million, Boot Barn Western and Work Wear, Dick's Sporting Goods, Dollar Tree, DSW, Marshalls, Old Navy, PetSmart, Ross Dress for Less, The Tile Shop, World Market

Mar-26 The Centre on Hugh Howell -

Outparcel (c) Atlanta, GA 7 3,731 100% N/A

May-26 3609 South Charlotte, NC 29 16,600 100% N/A

Jun-26 Sweetgrass Corner Charleston, SC 95 50,995 100%

Trader Joe's, Golf Galaxy, Homesense

Jun-26 Western Plaza Knoxville, TN 162 65,000 98.6%

The Fresh Market, Crunch Fitness,

e|spaces

Jul-26 New Garden Crossing Greensboro, NC 169 34,000 100%

Lowes Foods, Dollar Tree, HomeGoods, Marshalls, Office Depot

Total 846 $ 289,576

(a)Leased occupancy is shown as of the date of acquisition.

(b)Grocers listed first and bolded, remaining anchor tenants are shown alphabetically. Shadow-anchors are noted with an asterisk.

(c)The Company acquired a single-tenant outparcel adjacent to this retail property. The assets, liabilities, and operations of the outparcel acquired are combined for presentation purposes with the retail property already owned by the Company.

Dispositions

Month Property Market GLA Disposition Price Major Anchors (a)

Sep-26 Eldridge Town Center Houston, TX 144 $ 36,000

Kroger, Kohl's*, Petco

(a)Grocers listed first and bolded, remaining anchor tenants are shown alphabetically. Shadow-anchors are noted with an asterisk.

Capital Investments and Leasing Costs

Three months ended September 30 Nine months ended September 30

2026 2025 2026 2025

Tenant improvements $ 3,650 $ 2,583 $ 6,081 $ 4,840

Leasing costs 983 1,048 2,259 2,899

Property improvements 3,441 3,031 7,932 10,218

Capitalized indirect costs (a) 402 336 1,249 1,150

Total capital expenditures and leasing costs 8,476 6,998 17,521 19,107

Development and redevelopment direct costs 2,809 5,013 6,987 10,325

Development and redevelopment indirect costs (a) 360 388 1,147 1,071

Capital investments and leasing costs (b) $ 11,645 $ 12,399 $ 25,655 $ 30,503

(a)Indirect costs include capitalized interest, real estate taxes, insurance, and payroll costs.

(b)As of September 30, 2026 and 2025, total accrued capital investments and leasing costs were $11,237 and $4,900, respectively.

Supplemental - Quarter Ended September 30, 2026

Development Pipeline

In thousands

Active Redevelopments

Estimated Completion Quarter (a)

Projected Incremental Costs Costs to Date Estimated Incremental Yield on Cost

Property Market Project Description

Westpark Shopping Center Richmond, VA Development of an 8,400 square foot multi-tenant building. 1Q - 2027 $ 4,500 $ 2,300

The Parke Austin - Round Rock, TX Anchor space repositioning, including an 8,000 square foot expansion of the existing grocer and repositioning of small shop space. 3Q - 2027 9,700 5,000

Plantation Grove Orlando - Kissimmee, FL Demolition and rebuild of the existing grocer to accommodate a larger, 54,000 square foot prototype. 4Q - 2027 7,400 900

Total Redevelopment Costs $ 21,600 $ 8,200 7-10%

(a) The Company's estimated timing of completion may be impacted by factors outside of management's control, including global supply constraints or government restrictions.

Recently Completed Redevelopments

Property Market Project Description Completion Quarter Completed Costs

Bay Colony Houston - Sugar Land-Baytown, TX Redevelopment of an existing outparcel building. 2Q - 2026 $ 1,400

Sarasota Pavilion Tampa - St. Petersburg, FL Anchor space repositioning and remerchandising into new tenant spaces, including a 27,000 square foot anchor space and a 5,000 square foot small shop space. 1Q - 2026 5,900

Shops at Arbor Trails Austin - Round Rock, TX Redevelopment of a pre-existing single-tenant building to a multi-tenant building. 1Q - 2026 2,600

Buckhead Crossing Atlanta, GA Anchor space repositioning and remerchandising into new tenant spaces, including a 10,000 square foot anchor space and a 7,000 square foot small shop space. 1Q - 2026 4,200

Sandy Plains Centre Atlanta, GA Redevelopment and expansion to accommodate a 10,000 square foot swim school and additional small shop space. 3Q - 2025 2,800

Potential Developments and Redevelopments

Projects shown below are listed alphabetically, are in various stages of planning, and may or may not commence due to a number of factors.

Property Market Project Description

Bay Landing Cape Coral - Fort Myers, FL New development of building area adjacent to existing stores.

Buckhead Crossing Atlanta, GA New development, including addition of an outparcel building.

Carmel Village Charlotte, NC New development, including addition of an outparcel building.

Gateway Market Center Tampa - St. Petersburg, FL Extensive repositioning and reconfiguration of the center to right size anchor space, add freestanding buildings and improve vehicular access.

Kyle Marketplace Austin - Round Rock, TX New development, including addition of outparcel buildings.

Sarasota Pavilion Tampa - St. Petersburg, FL New development, including anchor repositioning and the addition of an outparcel building.

The Centre on Hugh Howell Atlanta, GA New development, including addition of an outparcel building.

Twelve Oaks Shopping Center Savannah, GA Anchor repositioning and site improvements.

Supplemental - Quarter Ended September 30, 2026

Property Summary, by Total Market GLA

GLA in thousands

Property Market State Center

Type (a) GLA Leased Occupancy ABR

PSF Grocery

Anchor (b) Major Anchors (c)

1 Escarpment Village Austin-Round Rock TX C 170 100% $24.27 Yes H-E-B

2 Kyle Marketplace Austin-Round Rock TX C 258 98.5% $15.64 Yes H-E-B

3 Market at Westlake Austin-Round Rock TX N 30 100% $22.26 No Walgreens

4 Scofield Crossing Austin-Round Rock TX N 95 98.7% $28.28 No Crunch Fitness, Goodwill

5 Shops at Arbor Trails Austin-Round Rock TX C 357 100% $15.37 Yes

Costco Wholesale, Whole Foods Market, Haverty's Furniture, Marshalls

6 Shops at the Galleria Austin-Round Rock TX P 537 94.8% $15.42 Yes

Trader Joe's, Best Buy, Five Below, Home Consignment Center, HomeGoods, Lowe's, Marshalls, Michaels, Old Navy, PetSmart, Signature Bridal Salon and Bestow Bridal, Spec's Wine Spirits & Finer Foods, World Market

7 The Parke Austin-Round Rock TX P 409 98.8% $17.06 Yes

Whole Foods Market, Cavender's Boot City, Dick's Sporting Goods, DSW, Five Below, La-Z-Boy Furniture Galleries, Marshalls, Michaels, Nordstrom, Old Navy, Petco, Ulta, World Market

8 University Oaks Shopping Center Austin-Round Rock TX P 236 98.3% $20.71 No Burlington, Crunch Fitness, DSW, IKEA*, JC Penney*, PetSmart, Ross Dress for Less, Spec's Wine Spirits & Finer Foods

9 Custer Creek Village Dallas-Fort Worth-Arlington TX N 96 95.5% $16.29 Yes Tom Thumb

10 Eldorado Marketplace Dallas-Fort Worth-Arlington TX C 189 100% $25.58 Yes

Market Street, PetSmart, Phenix Salon Suites

11 Prestonwood Town Center Dallas-Fort Worth-Arlington TX P 236 99.4% $21.67 Yes

Walmart*, Barnes & Noble, Burlington, DSW, HomeGoods, Michaels, Petco, Ulta

12 Riverview Village Dallas-Fort Worth-Arlington TX N 89 100% $13.62 Yes

Tom Thumb, Petco

13 Riverwalk Market Dallas-Fort Worth-Arlington TX N 90 95.6% $22.72 Yes Market Street

14 Shops at Fairview Town Center Dallas-Fort Worth-Arlington TX N 66 100% $26.15 Yes Whole Foods Market

15 The Highlands of Flower Mound Dallas-Fort Worth-Arlington TX P 175 89.0% $19.91 Yes

Target*, Michaels, Nordstrom Rack, Skechers, World Market

16 Antoine Town Center Houston-Sugar Land-Baytown TX N 110 92.4% $15.17 Yes Kroger

17 Bay Colony Houston-Sugar Land-Baytown TX C 415 97.7% $17.68 Yes

H-E-B, EOS Fitness, Kohl's, Petco, Social Security Administration, The University of Texas Medical Branch, Walgreens

18 Blackhawk Town Center Houston-Sugar Land-Baytown TX N 127 99.1% $14.40 Yes

H-E-B, Walgreens

19 Cyfair Town Center Houston-Sugar Land-Baytown TX C 434 92.6% $17.71 Yes

Kroger, Cinemark USA, Crunch Fitness, JC Penney

20 Stables Town Center Houston-Sugar Land-Baytown TX C 148 93.0% $18.11 Yes Kroger

21 Sonterra Village San Antonio TX N 42 81.2% $37.96 Yes Trader Joe's

22 Stone Ridge Market San Antonio TX C 219 99.0% $27.36 Yes

H-E-B Plus*, Burlington, PetSmart

23 The Marketplace at Encino Park (d) San Antonio TX N 92 91.4% $29.10 Yes Sprouts Farmers Market

Total Texas 4,620 96.7% $19.09

24 Bay Landing Cape Coral - Fort Myers FL N 63 98.1% $11.21 Yes

The Fresh Market, HomeGoods

25 Daniels Marketplace (d) Cape Coral - Fort Myers FL C 131 100% $32.46 Yes Whole Foods Market

26 The Forum Cape Coral - Fort Myers FL P 186 97.1% $18.12 Yes

Target*, dd's Discounts, Home Depot*, Michaels, Petco, Ross Dress for Less, Sky Zone, Staples

27 PGA Plaza Miami-Ft Lauderdale-Miami Beach FL N 121 99.1% $38.43 Yes

Trader Joe's, Marshalls, Ulta

28 Southern Palm Crossing Miami-Ft Lauderdale-Miami Beach FL C 345 97.3% $18.07 Yes

Costco Wholesale, Going, Going, Gone!, Marshalls

29 Westfork Plaza & Paraiso Parc Miami-Ft Lauderdale-Miami Beach FL C 393 98.2% $26.83 Yes

Costco Wholesale*, Publix, Baptist Outpatient Services, Dollar Tree, Pembroke Pink Imaging, Petco, Regal Bistro, Ross Dress for Less, Skechers, TJ Maxx, Ulta

30 Lakeside & Lakeside Crossing Orlando - Kissimmee FL N 76 88.2% $51.05 Yes Trader Joe's

31 Plantation Grove Orlando - Kissimmee FL N 113 98.6% $22.52 Yes Publix

Supplemental - Quarter Ended September 30, 2026

Property Summary, by Total Market GLA, continued

GLA in thousands

Property Market State Center

Type (a) GLA Leased Occupancy ABR

PSF Grocery

Anchor (b) Major Anchors (c)

32 Rio Pinar Plaza Orlando - Kissimmee FL N 131 96.3% $20.71 Yes

Publix, Planet Fitness

33 Suncrest Village Orlando - Kissimmee FL N 97 96.8% $22.81 Yes

Publix, Orange County Tax Collector

34 Gateway Market Center Tampa - St. Petersburg FL P 231 63.1% $14.21 Yes

Publix, Target*, HomeGoods, PetSmart, TJ Maxx

35 Peachland Promenade Tampa - St. Petersburg FL C 177 97.0% $15.58 Yes

Publix, Goodwill, My Salon Suite, Planet Fitness

36 Sarasota Pavilion Tampa - St. Petersburg FL P 336 96.8% $17.69 Yes

Publix, Bank of America, Bealls, Marshalls, Michaels, Nordstrom Rack, Old Navy, PetSmart, Ross Dress for Less, Truist Bank, World Market

Total Florida 2,400 94.0% $22.29

37 Asheville Market (d) Asheville NC C 130 94.1% $20.44 Yes

Whole Foods Market, DSW, Fifth Season Gardening, Guitar Center

38 3609 South (d) Charlotte-Gastonia-Concord NC N 29 100% $30.01 No N/A

39 Carmel Village (e) Charlotte-Gastonia-Concord NC N 54 89.0% $28.56 No N/A

40 Eastfield Village Charlotte-Gastonia-Concord NC N 96 98.8% $19.70 Yes

Food Lion, Gold's Gym

41 Northcross Commons Charlotte-Gastonia-Concord NC N 63 100% $29.81 Yes Whole Foods Market

42 Rea Farms (d) Charlotte-Gastonia-Concord NC C 183 95.9% $25.97 Yes Harris Teeter

43 Sycamore Commons Charlotte-Gastonia-Concord NC P 265 98.8% $21.65 Yes

Costco Wholesale*, Best Buy, Dick's Sporting Goods, Lowe's*, Michaels, Nordstrom Rack, Old Navy, Ulta, World Market

44 The Shoppes at Davis Lake Charlotte-Gastonia-Concord NC N 91 97.4% $19.30 Yes Harris Teeter

45 New Garden Crossing (d) Greensboro-High Point NC C 169 100% $14.20 Yes

Lowes Foods, Dollar Tree, HomeGoods, Marshalls, Office Depot

46 Bent Tree Plaza Raleigh-Cary-Durham NC N 80 100% $16.27 Yes Food Lion

47 Cary Park Town Center Raleigh-Cary-Durham NC N 93 95.8% $17.75 Yes

Harris Teeter, CVS

48 Commons at University Place Raleigh-Cary-Durham NC N 92 100% $17.64 Yes

Harris Teeter, CVS

49 Renaissance Center Raleigh-Cary-Durham NC C 363 95.6% $24.40 No Ashley HomeStore, Best Buy, Nordstrom Rack, Old Navy, Popshelf, REI, Ulta, UNC Health Care, World Market

50 The Pointe at Creedmoor Raleigh-Cary-Durham NC N 60 100% $17.82 Yes Harris Teeter

Total North Carolina 1,768 97.3% $21.42

51 Buckhead Crossing Atlanta GA C 221 96.2% $25.26 No HomeGoods, Marshalls, Michaels, Ross Dress for Less, The Tile Shop, Ulta

52 Coweta Crossing Atlanta GA N 68 100% $11.61 Yes Publix

53 Kennesaw Marketplace Atlanta GA C 130 100% $37.07 Yes

Whole Foods Market, Academy Sports + Outdoors*, Guitar Center*, Hobby Lobby*, Petco*

54 Moores Mill Atlanta GA N 70 100% $24.84 Yes Publix

55 Plaza Midtown Atlanta GA N 70 100% $30.34 Yes Publix

56 Rose Creek Atlanta GA N 70 100% $12.21 Yes Publix

57 Sandy Plains Centre Atlanta GA C 135 96.6% $24.57 Yes

Kroger, Pet Supplies Plus, Walgreens*

58 The Centre on Hugh Howell Atlanta GA N 90 98.2% $15.58 No Crunch Fitness

59 Thomas Crossroads Atlanta GA N 105 97.5% $10.57 Yes Kroger

60 Windward Commons Atlanta GA N 117 96.3% $16.35 Yes Kroger

61 Twelve Oaks Shopping Center (e) Savannah GA N 106 99.2% $19.90 Yes Publix

Total Georgia 1,182 98.1% $21.84

Supplemental - Quarter Ended September 30, 2026

Property Summary, by Total Market GLA, continued

GLA in thousands

Property Market State Center

Type (a) GLA Leased Occupancy ABR

PSF Grocery

Anchor (b) Major Anchors (c)

62 Stonehenge Village Richmond VA C 214 93.9% $19.45 Yes

Wegmans, La-Z-Boy, Party City, Petco

63 West Broad Marketplace (d) Richmond VA P 386 99.1% $16.42 Yes

Wegmans, Burlington, Cabela's, Duluth Trading Company, Michaels, TJ Maxx

64 Westpark Shopping Center Richmond VA C 174 98.6% $18.22 Yes

Publix, Planet Fitness, The Tile Shop

Total Virginia 774 97.5% $17.62

65 Nashville West (d) Nashville TN P 324 97.3% $18.79 Yes

66 Western Plaza (d) Knoxville TN C 162 98.6% $21.63 Yes

The Fresh Market, Crunch Fitness, e|spaces

Total Tennessee 486 97.7% $19.75

67 Market at Mill Creek Charleston-Berkeley-Dorchester SC N 80 98.2% $24.66 Yes Lowes Foods

68 Nexton Square Charleston-Berkeley-Dorchester SC L 134 96.7% $28.24 No N/A

Sweetgrass Corner (d)

Charleston-Berkeley-Dorchester SC C 95 100% $27.66 Yes

Trader Joe's, Golf Galaxy, Homesense

70 West Ashley Station (e) Charleston-Berkeley-Dorchester SC N 79 100% $29.78 Yes Whole Foods Market

Total South Carolina 388 98.5% $27.67

71 Marketplace at Hudson Station (d) Phoenix AZ N 60 100% $34.93 Yes

Fry's Marketplace*, EOS Fitness

72 Mesa Shores (d) Phoenix AZ N 111 97.5% $21.15 Yes

Sprouts Farmers Market, Trader Joe's, EOS Fitness

73 Scottsdale North Marketplace Phoenix AZ N 66 100% $24.58 Yes AJ's Fine Foods

74 The Plant Phoenix AZ N 57 96.9% $30.00 Yes Sprouts Farmers Market

75 Plaza Escondida (e) Tucson AZ N 91 97.4% $17.26 Yes

Trader Joe's, Marshalls

Total Arizona 385 98.2% $24.32

76 The Shops at Town Center Washington D.C MD N 125 97.0% $32.76 Yes Safeway

77 Travilah Square Shopping Center Washington D.C MD N 56 84.1% $51.44 Yes Trader Joe's

Total Maryland 181 93.0% $38.00

78 Garden Village Los Angeles CA N 117 79.5% $19.87 Yes Albertsons

Total California 117 79.5% $19.87

Grand Totals 12,301 96.4% $20.97

(a)N = Neighborhood Center, P = Power Center, C = Community Center, L = Lifestyle Center

(b)Grocers may be leased or shadow-anchors and include traditional, specialty grocers, and large format retailers (i.e. Walmart, Target, and Costco Wholesale).

(c)Grocers listed first and bolded, remaining anchor tenants are shown alphabetically. Shadow-anchors are noted with an asterisk.

(d)Properties are excluded from Same Property for the three and nine months ended September 30, 2026.

(e)Properties are excluded from Same Property for the nine months ended September 30, 2026.

Supplemental - Quarter Ended September 30, 2026

Components of Net Asset Value (NAV) as of September 30, 2026

In thousands, except share information

Page No.

NOI Excluding Lease Termination Income and Expense, and GAAP Rent Adjustments, Most Recent Quarter

NOI, excluding ground rent income $ 53,851

Ground rent income 5,968

NOI 59,819

Annualized NOI, excluding ground rent income $ 215,404

Annualized ground rent income 23,872

Projected remaining development

Net project costs $ 13,400

Estimated range for incremental yield 7-10%

Assets

Cash, cash equivalents, and restricted cash $ 36,704

Base rent, recoveries, and other receivables 13,535

Undeveloped land —

Land held for development —

Liabilities

Debt $ 1,048,264

Discounts and financing costs, net (8,061)

Accounts payable and accrued expenses 60,897

Distributions payable 19,494

Other liabilities 31,890

Common Shares Outstanding 77,978,431

Supplemental - Quarter Ended September 30, 2026

Glossary of Terms

Terms Definitions

ABR Per Square Foot (ABR PSF) ABR PSF is the ABR divided by the occupied square footage as of the end of the period.

Adjusted EBITDA

Adjusted EBITDA is an additional supplemental non-GAAP financial measure of the Company’s operating performance. In particular, Adjusted EBITDA provides an additional measure to compare the operating performance of different REITs without having to account for certain remaining amortization assumptions within EBITDA, certain gains or losses remaining within EBITDA, and other unique revenue and expense items which some may consider not pertinent to measuring a particular company's ongoing operating performance.

Annualized Base Rent (ABR) Annualized Base Rent (ABR) is the base rent for the last month of the period multiplied by twelve. Base rent is inclusive of ground rent and any abatement concessions and exclusive of Specialty Lease rent.

Anchor Tenant

Tenants with square footage greater than or equal to 10,000 square feet are considered Anchor Tenants.

Community Center Community Centers are generally open air and designed for tenants that offer a larger array of apparel and other soft goods. Typically, community centers contain anchor stores and other national retail tenants.

Comparable Lease A Comparable Lease meets all of the following criteria: terms greater than or equal to one year, unit was vacant less than one year prior to executed lease, square footage of unit remains unchanged or within 10% of prior unit square footage, and has a rent structure consistent with the previous tenant.

Earnings Before Interest, Taxes, Depreciation, and Amortization

(EBITDA)

The Company's non-GAAP measure of Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) is net income (or loss) in accordance with GAAP, excluding interest expense, net, income tax expense (or benefit), and depreciation and amortization.

Economic Occupancy Upon Rent Commencement Date, the percentage of occupied GLA divided by total GLA. For purposes of calculating occupancy, Specialty Lease GLA is deemed vacant.

GAAP Rent Adjustments GAAP Rent Adjustments consist of amortization of market-lease intangibles, amortization of lease incentives, and straight-line rent adjustments.

Gross Leasable Area (GLA) Measure of the total amount of leasable space at a property in square feet.

Leased Occupancy Economic Occupancy plus the percentage of signed and not yet commenced GLA divided by total GLA.

Lifestyle Center Lifestyle Centers consist of upscale national-chain specialty stores with dining and entertainment in an outdoor setting.

Nareit Funds From Operations (Nareit FFO) and Core FFO

The Company's non-GAAP measure of Nareit Funds From Operations ("Nareit FFO"), based on the National Association of Real Estate Investment Trusts ("Nareit") definition, is net income (or loss) in accordance with GAAP, excluding gains (or losses) resulting from dispositions of properties, plus depreciation and amortization and impairment charges on depreciable real property. Core Funds From Operations (“Core FFO”) is an additional supplemental non-GAAP financial measure of the Company's operating performance. In particular, Core FFO provides an additional measure to compare the operating performance of different REITs without having to account for certain remaining amortization assumptions within Nareit FFO and other unique revenue and expense items which some may consider not pertinent to measuring a particular company’s ongoing operating performance.

Neighborhood Center Neighborhood Centers are convenience oriented with tenants such as a grocery store anchor, a drugstore, and other small retailers.

Net Debt Net Debt is outstanding debt, net, less cash and cash equivalents.

Net Debt-to-Adjusted EBITDA Net Debt-to-Adjusted EBITDA is net debt divided by Adjusted EBITDA.

Net Operating Income (NOI) NOI excludes general and administrative expenses, depreciation and amortization, other income and expense, net, impairment of real estate assets, gains (losses) from sales of properties, gains (losses) on extinguishment of debt, interest expense, net, lease termination income and expense, and GAAP Rent Adjustments.

New Lease New Leases are leases where a new tenant will be occupying a unit or an existing tenant is relocating from one unit to another (unless the tenant is moving from a temporary space back to the original unit).

NOI from other investment properties

NOI from other investment properties consists of properties which do not meet the Company's Same Property criteria and includes adjustments for the Company's captive insurance company.

Power Center Power Centers consist of category-dominant anchors, such as discount department stores, off-price stores, or wholesale clubs, with only a few small shop tenants.

Prior Contractual Rent Base rent charged for a particular unit, prior to the current term’s first year rent. If the prior lease terminated prior to the contractual expiration date, the prior contractual rent amount is the rent charged in the final month of occupancy.

Renewal Lease Terms have been extended on an existing lease in the same unit. This may happen via an amendment, extension agreement or exercised option.

Same Property Information provided on a same property basis includes the results of properties that were owned and operated for the entirety of both periods presented.

Shadow Anchor Tenant Shadow Anchor Tenant represents tenants that are situated on parcels which are owned by unrelated third parties, but, due to their location within or immediately adjacent to a property, appear to the consumer as a retail tenant of the property and, as a result, attract additional consumer traffic to the property.

Small Shop Tenant

Tenants with square footage less than 10,000 square feet are considered Small Shop Tenants.

Specialty Lease Specialty leasing represents leases of less than one year in duration for inline space and includes any term length for a common area space, and is excluded from the ABR and leased square footage figures when computing the ABR per square foot.

Supplemental - Quarter Ended September 30, 2026

InvenTrust Properties Corp.

CORPORATE OFFICE

3025 Highland Pkwy | Ste 350

Downers Grove, IL 60515

630.570.0700

InvestorRelations@InvenTrustProperties.com

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dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

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duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

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Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

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