Stacy Slater                            

Senior Vice President, Investor Relations            

800.468.7526

stacy.slater@brixmor.com

NEW YORK, OCTOBER 27, 2025 - Brixmor Property Group Inc. (NYSE: BRX) (“Brixmor” or the “Company”) announced today its operating results for the three and nine months ended September 30, 2025. For the three months ended September 30, 2025 and 2024, net income attributable to Brixmor Property Group Inc. was $0.31 per diluted share and $0.32 per diluted share, respectively, and for the nine months ended September 30, 2025 and 2024, net income attributable to Brixmor Property Group Inc. was $0.81 per diluted share and $0.84 per diluted share, respectively.

Key highlights for the three months ended September 30, 2025 include:

•Executed 1.5 million square feet of new and renewal leases, with rent spreads on comparable space of 17.8%, including 0.6 million square feet of new leases, with rent spreads on comparable space of 30.5%

•Realized total leased occupancy of 94.1%, anchor leased occupancy of 95.4%, and record small shop leased occupancy of 91.4%

◦Commenced $22.0 million of annualized base rent

◦Leased to billed occupancy spread totaled 390 basis points

◦Total signed but not yet commenced new lease population represented 2.7 million square feet and $60.5 million of annualized base rent

•Reported an increase in same property NOI of 4.0%, including a contribution from base rent of 270 basis points

•Reported Nareit FFO of $172.3 million, or $0.56 per diluted share

•Stabilized $46.4 million of reinvestment projects at an average incremental NOI yield of 11%, with the in process reinvestment pipeline totaling $375.3 million at an expected average incremental NOI yield of 9%

•Completed $223.0 million of acquisitions and $81.2 million of dispositions

•Issued $400.0 million of 4.850% Senior Notes due 2033

Subsequent events:

•Increased the quarterly dividend by 7.0% to $0.3075 per common share (equivalent to $1.23 per annum), which represents an annualized yield of approximately 4.4% as of October 24, 2025

•Completed $21.5 million of dispositions

•Updated previously provided Nareit FFO per diluted share expectations for 2025 to $2.23 - $2.25 from $2.22 - $2.25 and affirmed same property NOI growth expectations for 2025 of 3.90% - 4.30%

•As previously announced, the Company's Board of Directors appointed Brian T. Finnegan, the Company's President and Chief Operating Officer, as interim Chief Executive Officer, effective October 16, 2025. Mr. Finnegan's appointment followed the announcement that James M. Taylor, the Company's Chief Executive Officer, is taking a temporary medical leave of absence

“Our team continued to deliver on our value-added business plan with another strong quarter of operating results, including record commencements, in-place ABR per square foot, and new lease ABR per square foot. This execution reinforces the quality of our well-located centers, the strength of our platform, and the embedded mark-to-market opportunity of our portfolio. Looking forward, we remain encouraged by the size of the signed but not yet commenced pipeline and are focused on executing on our reinvestments as we position the portfolio for long-term sustainable growth," commented Brian T. Finnegan, Interim Chief Executive Officer and the Company’s President and Chief Operating Officer.

•For the three months ended September 30, 2025 and 2024, net income attributable to Brixmor Property Group Inc. was $94.2 million, or $0.31 per diluted share, and $96.8 million, or $0.32 per diluted share, respectively.

•For the nine months ended September 30, 2025 and 2024, net income attributable to Brixmor Property Group Inc. was $249.1 million, or $0.81 per diluted share, and $255.9 million, or $0.84 per diluted share, respectively.

•For the three months ended September 30, 2025 and 2024, Nareit FFO was $172.3 million, or $0.56 per diluted share, and $159.2 million, or $0.52 per diluted share, respectively. Results for the three months ended September 30, 2025 and 2024 include items that impact FFO comparability, including gain (loss) on extinguishment of debt, net and transaction expenses, net, of $0.0 million, or $0.00 per diluted share, and $0.2 million, or $0.00 per diluted share, respectively.

•For the nine months ended September 30, 2025 and 2024, Nareit FFO was $514.9 million, or $1.67 per diluted share, and $486.4 million, or $1.60 per diluted share, respectively. Results for the nine months ended September 30, 2025 and 2024 include items that impact FFO comparability, including gain (loss) on extinguishment of debt, net and transaction expenses, net, of $(0.3) million, or $(0.00) per diluted share, and $0.4 million, or $0.00 per diluted share, respectively.

•For the three months ended September 30, 2025, the Company reported an increase in same property NOI of 4.0% versus the comparable 2024 period.

•For the nine months ended September 30, 2025, the Company reported an increase in same property NOI of 3.5% versus the comparable 2024 period.

•The Company’s Board of Directors declared a quarterly cash dividend of $0.3075 per common share (equivalent to $1.23 per annum), which represents a 7.0% increase.

•The dividend is payable on January 15, 2026 to stockholders of record on January 5, 2026.

•During the three months ended September 30, 2025, the Company stabilized eight value enhancing reinvestment projects with a total aggregate net cost of approximately $46.4 million at an average incremental NOI yield of 11% and added five new reinvestment projects to its in process pipeline. Projects added include one anchor space repositioning project, two outparcel development projects, and two redevelopment projects, with a total aggregate net estimated cost of approximately $44.8 million at an expected average incremental NOI yield of 9%.

•At September 30, 2025, the value enhancing reinvestment in process pipeline was comprised of 35 projects with an aggregate net estimated cost of approximately $375.3 million at an expected average incremental NOI yield of 9%. The in process pipeline includes 12 anchor space repositioning projects with an aggregate net estimated cost of approximately $58.8 million at an expected incremental NOI yield of 7% - 14%; nine outparcel development projects with an aggregate net estimated cost of approximately $9.9 million at an expected average incremental NOI yield of 18%; and 14 redevelopment projects with an aggregate net estimated cost of approximately $306.6 million at an expected average incremental NOI yield of 10%.

•Follow Brixmor on LinkedIn for video updates on reinvestment projects at https://www.linkedin.com/company/brixmor.

•As previously announced, during the three months ended September 30, 2025, the Company acquired LaCenterra at Cinco Ranch, a 409,264 square foot grocery-anchored lifestyle center strategically located in an affluent master planned community in the western Houston, Texas suburbs (Houston-Pasadena-The Woodlands, TX CBSA), for $223.0 million. To learn more about LaCenterra at Cinco Ranch visit: https://www.brixmor.com/blog/lacenterra-acquisition-mark-horgan-visits.

•During the nine months ended September 30, 2025, the Company acquired LaCenterra at Cinco Ranch and one land parcel at an existing property for $226.1 million.

•During the three months ended September 30, 2025, the Company generated approximately $81.2 million of gross proceeds on the disposition of seven shopping centers.

•During the nine months ended September 30, 2025, the Company generated approximately $126.3 million of gross proceeds on the disposition of ten shopping centers, as well as four partial properties.

•Subsequent to September 30, 2025, the Company generated approximately $21.5 million of gross proceeds on the disposition of one shopping center.

•On September 9, 2025, the Company's operating partnership, Brixmor Operating Partnership LP, issued $400.0 million aggregate principal amount of 4.850% Senior Notes due 2033. Proceeds were utilized for general corporate purposes, including the repayment of outstanding indebtedness.

•At September 30, 2025, the Company had $1.6 billion in liquidity.

•At September 30, 2025, the Company's net principal debt to adjusted EBITDA, current quarter annualized was 5.6x and net principal debt to adjusted EBITDA, trailing twelve months was 5.7x.

•The Company has updated its previously provided NAREIT FFO per diluted share expectations for 2025 to $2.23 - $2.25 from $2.22 - $2.25 and affirmed its same property NOI growth expectations for 2025 of 3.90% - 4.30%.

◦Revenues deemed uncollectible is expected to total 75 - 110 bps of total expected revenues in 2025.

◦2025 expectations do not include any additional items that impact FFO comparability, which include gain or loss on extinguishment of debt, net and transaction expenses, net, or any other one-time items.

•The following table provides a reconciliation of the range of the Company's 2025 estimated net income attributable to Brixmor Property Group Inc. to Nareit FFO:

•For additional information, please visit https://www.brixmor.com;

•Follow Brixmor on:

◦LinkedIn at https://www.linkedin.com/company/brixmor

◦Facebook at https://www.facebook.com/Brixmor

◦Instagram at https://www.instagram.com/brixmorpropertygroup; and

◦YouTube at https://www.youtube.com/user/Brixmor.

The Company will host a teleconference on Tuesday, October 28, 2025 at 10:00 AM ET. To participate, please dial 877.704.4453 (domestic) or 201.389.0920 (international) within 15 minutes of the scheduled start of the call. The teleconference can also be accessed via a live webcast at https://www.brixmor.com in the Investors section. A replay of the teleconference will be available through November 11, 2025 by dialing 844.512.2921 (domestic) or 412.317.6671 (international) (Passcode: 13755355) or via the web through October 28, 2026 at https://www.brixmor.com in the Investors section.

The Company’s Supplemental Disclosure will be posted at https://www.brixmor.com in the Investors section. These materials are also available to all interested parties upon request to the Company at investorrelations@brixmor.com or 800.468.7526.

The Company presents the non-GAAP performance measures set forth below. 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. A reconciliation of net income to these non-GAAP performance measures is presented in the attached tables.

Nareit FFO is a supplemental, non-GAAP performance measure utilized to evaluate the operating and financial performance of real estate companies. Nareit defines FFO as net income (calculated in accordance with GAAP) excluding (i) depreciation and amortization related to real estate, (ii) gains and losses from the sale of certain real estate assets, (iii) gains and losses from change in control, (iv) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity and (v) after adjustments for unconsolidated joint ventures calculated to reflect FFO on the same basis. Considering the nature of its business as a real estate owner and operator, the Company believes that Nareit FFO is useful to investors in measuring its operating and financial performance because the definition excludes items included in net income (calculated in accordance with GAAP) that do not relate to or are not indicative of the Company’s operating and financial performance, such as depreciation and amortization related to real estate, and items which can make periodic and peer analyses of operating and financial performance more difficult, such as gains and losses from the sale of certain real estate assets and impairment write-downs of certain real estate assets.

Same property NOI is a supplemental, non-GAAP performance measure utilized to evaluate the operating performance of real estate companies. Same property NOI is calculated (using properties owned for the entirety of both periods and excluding properties under development and completed new development properties that have been stabilized for less than one year) as total property revenues (base rent, expense reimbursements, adjustments for revenues deemed uncollectible, ancillary and other rental income, percentage rents, and other revenues) less direct property operating expenses (operating costs and real estate taxes). Same property NOI excludes (i) lease termination fees, (ii) straight-line rental income, net, (iii) accretion of below-market leases, net of amortization of above-market leases and tenant inducements, (iv) straight-line ground rent expense, net, (v) income or expense associated with the Company's captive insurance company, (vi) depreciation and amortization, (vii) impairment of real estate assets, (viii) general and administrative expense, and (ix) other income and expense (including interest expense and gain on sale of real estate assets). Considering the nature of its business as a real estate owner and operator, the Company believes that NOI is useful to investors in measuring the operating performance of its portfolio because the definition excludes various items included in net income that do not relate to, or are not indicative of, the operating performance of the Company’s properties, such as lease termination fees, straight-line rental income, net, income or expense associated with the Company’s captive insurance company, accretion of below-market leases, net of amortization of above-market leases and tenant inducements, straight-line ground rent expense, net, depreciation and amortization, impairment of real estate assets, general and administrative expense, and other income and expense (including interest expense and gain on sale of real estate assets). The Company believes that same property NOI is also useful to investors because it further eliminates disparities in NOI by only including NOI of properties owned for the entirety of both periods presented and excluding properties under development and completed new development properties that have been stabilized for less than one year and therefore provides a more consistent metric for comparing the operating performance of the Company's real estate between periods.

Net principal debt to adjusted EBITDA, current quarter annualized and net principal debt to adjusted EBITDA, trailing twelve months are supplemental non-GAAP measures utilized to evaluate the performance of real estate companies in relation to outstanding debt. Net principal debt is calculated as Debt obligations, net (calculated in accordance with GAAP) excluding net unamortized premium or discount and deferred financing fees less cash, cash equivalents, and restricted cash. Adjusted EBITDA is calculated as the sum of net income (calculated in accordance with GAAP) before non-controlling interests excluding (i) interest expense, (ii) federal and state taxes, (iii) depreciation and amortization, (iv) gains and losses from the sale of certain real estate assets, (v) gains and losses from change in control, (vi) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity, (vii) gain (loss) on extinguishment of debt, net, and (viii) other items that the Company believes are not indicative of the Company's operating performance. Net principal debt to adjusted EBITDA, current quarter annualized and net principal debt to adjusted EBITDA, trailing twelve months are calculated as net principal debt divided by quarterly annualized adjusted EBITDA or trailing twelve month adjusted EBITDA, respectively. Considering the nature of its business as a real estate owner and operator, the Company believes that net principal debt to adjusted EBITDA, current quarter annualized and net principal debt to adjusted EBITDA, trailing twelve months are useful to investors in measuring its operating performance because they exclude items included in net income (calculated in accordance with GAAP) that do not relate to or are not indicative of the operating performance of the Company’s real estate, are widely known and understood measures of performance, independent of a company's capital structure and items which can make periodic and peer analyses of performance more difficult, and can provide investors with a more consistent basis by which to compare the Company with its peers.

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 354 retail centers comprise approximately 63 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor’s vision “to be the center of the communities we serve” and are home to a diverse mix of thriving national, regional and local retailers.

Brixmor is a proud real estate partner to over 5,000 retailers including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.

Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the “Investors” page of its website at https://www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under the sections entitled “Forward-Looking Statements” and “Risk Factors” in our Form 10-K for the year ended December 31, 2024, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at https://www.sec.gov. These factors include (1) changes in national, regional, and local economies, due to global events such as international military conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, rising interest rates, inflation, unemployment, or limited growth in consumer income or spending; (2) local real estate market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in our Portfolio (defined hereafter); (3) competition from other available properties and e-commerce; (4) disruption and/or consolidation in the retail sector, the financial stability of our tenants, and the overall financial condition of large retailing companies, including their ability to pay rent and/or expense reimbursements that are due to us; (5) in the case of percentage rents, the sales volumes of our tenants; (6) increases in property operating expenses, including common area expenses, utilities, insurance, and real estate taxes, which are relatively inflexible and generally do not decrease if revenue or occupancy decrease; (7) increases in the costs to repair, renovate, and re-lease space; (8) earthquakes, wildfires, tornadoes, hurricanes, damage from rising sea levels due to climate change, other natural disasters, epidemics and/or pandemics, civil unrest, terrorist acts, or acts of war, any of which may result in uninsured or underinsured losses; and (9) changes in laws and governmental regulations, including those governing usage, zoning, the environment, privacy, data security, intellectual property rights, and taxes. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our periodic filings. The forward-looking statements speak only as of the date of this press release, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law.

###

CONSOLIDATED BALANCE SHEETS
Unaudited, dollars in thousands, except share information
															As of						As of
															9/30/25						12/31/24
			Assets
						Real estate
									Land						$	1,835,928					$	1,834,814
									Buildings and tenant improvements						9,206,437						8,895,571
									Construction in progress						93,001						152,260
									Lease intangibles						524,966						526,412
															11,660,332						11,409,057
									Accumulated depreciation and amortization						(3,560,508)						(3,410,179)
						Real estate, net									8,099,824						7,998,878
						Cash and cash equivalents									331,544						377,616
						Restricted cash									44,962						1,076
						Marketable securities									21,691						20,301
						Receivables, net, including straight-line rent receivables of $234,299 and $208,785, respectively									306,179						281,947
						Deferred charges and prepaid expenses, net									174,151						167,080
						Real estate assets held for sale									7,408						4,189
						Other assets									63,494						57,827
			Total assets												$	9,049,253					$	8,908,914
			Liabilities
						Debt obligations, net									$	5,493,420					$	5,339,751
						Accounts payable, accrued expenses and other liabilities									592,836						585,241
			Total liabilities												6,086,256						5,924,992
			Equity
						Common stock, $0.01 par value; authorized 3,000,000,000 shares;
									315,227,002 and 314,619,008 shares issued and 306,100,010 and 305,492,016
									shares outstanding						3,061						3,055
						Additional paid-in capital									3,432,972						3,431,043
						Accumulated other comprehensive income									1,895						8,218
						Distributions in excess of net income									(475,197)						(458,638)
						Total stockholders' equity									2,962,731						2,983,678
									Non-controlling interests						266						244
			Total equity												2,962,997						2,983,922
			Total liabilities and equity												$	9,049,253					$	8,908,914

CONSOLIDATED STATEMENTS OF OPERATIONS
Unaudited, dollars in thousands, except per share amounts
									Three Months Ended												Nine Months Ended
									9/30/25						9/30/24						9/30/25						9/30/24
			Revenues
						Rental income			$	340,618					$	319,989					$	1,017,256					$	955,065
						Other revenues			225						693						591						1,547
			Total revenues						340,843						320,682						1,017,847						956,612
			Operating expenses
						Operating costs			38,891						36,442						117,979						110,518
						Real estate taxes			45,455						42,902						133,907						120,659
						Depreciation and amortization			103,234						94,829						312,108						278,065
						Impairment of real estate assets			16,075						5,863						16,075						11,143
						General and administrative			26,772						30,250						84,038						88,430
			Total operating expenses						230,427						210,286						664,107						608,815
			Other income (expense)
						Dividends and interest			1,191						5,289						4,087						15,798
						Interest expense			(56,680)						(55,410)						(165,173)						(160,553)
						Gain on sale of real estate assets			40,018						37,018						58,843						53,974
						Gain (Loss) on extinguishment of debt, net			—						273						(296)						554
						Other			(703)						(726)						(2,076)						(1,700)
			Total other expense						(16,174)						(13,556)						(104,615)						(91,927)
			Net income						94,242						96,840						249,125						255,870
			Net income attributable to non-controlling interests						(7)						—						(22)						—
			Net income attributable to Brixmor Property Group Inc.						$	94,235					$	96,840					$	249,103					$	255,870
			Net income attributable to Brixmor Property Group Inc. per common share:
						Basic			$	0.31					$	0.32					$	0.81					$	0.84
						Diluted			$	0.31					$	0.32					$	0.81					$	0.84
			Weighted average shares:
						Basic			307,193						302,676						307,132						302,518
						Diluted			308,084						303,608						307,974						303,377

FUNDS FROM OPERATIONS (FFO)
Unaudited, dollars in thousands, except per share amounts
									Three Months Ended												Nine Months Ended
									9/30/25						9/30/24						9/30/25						9/30/24
			Net income attributable to Brixmor Property Group Inc.						$	94,235					$	96,840					$	249,103					$	255,870
						Depreciation and amortization related to real estate			101,995						93,495						308,534						273,386
						Gain on sale of real estate assets			(40,018)						(37,018)						(58,843)						(53,974)
						Impairment of real estate assets			16,075						5,863						16,075						11,143
			Nareit FFO						$	172,287					$	159,180					$	514,869					$	486,425
			Nareit FFO per diluted share						$	0.56					$	0.52					$	1.67					$	1.60
			Weighted average diluted shares outstanding						308,084						303,608						307,974						303,377
			Items that impact FFO comparability
						Gain (Loss) on extinguishment of debt, net			$	—					$	273					$	(296)					$	554
						Transaction expenses, net			—						(73)						(22)						(131)
			Total items that impact FFO comparability						$	—					$	200					$	(318)					$	423
			Items that impact FFO comparability, net per share						$	0.00					$	0.00					$	(0.00)					$	0.00
			Additional Disclosures
						Straight-line rental income, net			$	9,858					$	8,133					$	27,120					$	23,669
						Accretion of below-market leases, net of amortization of above-market leases and tenant inducements			5,124						1,701						11,813						5,235
						Straight-line ground rent expense, net (1)			(158)						8						(433)						19
			Dividends declared per share						$	0.2875					$	0.2725					$	0.8625					$	0.8175
			Dividends declared						$	88,004					$	82,312					$	263,999					$	246,533
			Dividend payout ratio (as % of Nareit FFO)						51.1		%				51.7		%				51.3		%				50.7		%
(1) Straight-line ground rent expense, net is included in Operating costs on the Consolidated Statements of Operations.

SAME PROPERTY NOI ANALYSIS
Unaudited, dollars in thousands
												Three Months Ended																		Nine Months Ended
												9/30/25						9/30/24						Change						9/30/25						9/30/24						Change
			Same Property NOI Analysis
			Number of properties									341						341						—						339						339						—
			Percent billed									90.4		%				91.9		%				(1.5)		%				90.3		%				91.9		%				(1.6)		%
			Percent leased									94.4		%				95.8		%				(1.4)		%				94.4		%				95.7		%				(1.3)		%
			Revenues
						Base rent						$	228,765					$	222,820											$	680,044					$	657,007
						Expense reimbursements						72,329						70,718												218,723						205,288
						Revenues deemed uncollectible						(2,891)						(4,611)												(7,406)						(5,691)
						Ancillary and other rental income / Other revenues						7,995						5,950												22,525						17,608
						Percentage rents						1,124						1,243												7,602						7,727
												307,322						296,120						3.8		%				921,488						881,939						4.5		%
			Operating expenses
						Operating costs						(35,638)						(34,745)												(110,238)						(105,042)
						Real estate taxes						(42,556)						(41,057)												(126,331)						(115,399)
												(78,194)						(75,802)						3.2		%				(236,569)						(220,441)						7.3		%
			Same property NOI									$	229,128					$	220,318					4.0		%				$	684,919					$	661,498					3.5		%
			NOI margin									74.6		%				74.4		%										74.3		%				75.0		%
			Expense recovery ratio									92.5		%				93.3		%										92.5		%				93.1		%
			Percent Contribution to Same Property NOI Performance:
												Change						Percent Contribution												Change						Percent Contribution
						Base rent						$	5,945					2.7		%										$	23,037					3.5		%
						Revenues deemed uncollectible						1,720						0.8		%										(1,715)						(0.3)		%
						Net expense reimbursements						(781)						(0.4)		%										(2,693)						(0.4)		%
						Ancillary and other rental income / Other revenues						2,045						0.9		%										4,917						0.7		%
						Percentage rents						(119)						(0.0)		%										(125)						(0.0)		%
																		4.0		%																3.5		%
			Reconciliation of Net income attributable to Brixmor Property Group Inc. to Same Property NOI
			Net income attributable to Brixmor Property Group Inc.									$	94,235					$	96,840											$	249,103					$	255,870
			Adjustments:
						Non-same property NOI						(11,945)						(9,977)												(36,479)						(32,464)
						Lease termination fees						(600)						(1,201)												(6,063)						(2,550)
						Straight-line rental income, net						(9,858)						(8,133)												(27,120)						(23,669)
						Accretion of below-market leases, net of amortization of above-market leases and tenant inducements						(5,124)						(1,701)												(11,813)						(5,235)
						Straight-line ground rent expense, net						158						(8)												433						(19)
						Depreciation and amortization						103,234						94,829												312,108						278,065
						Impairment of real estate assets						16,075						5,863												16,075						11,143
						General and administrative						26,772						30,250												84,038						88,430
						Total other expense						16,174						13,556												104,615						91,927
						Net income attributable to non-controlling interests						7						—												22						—
			Same property NOI									$	229,128					$	220,318											$	684,919					$	661,498

>			SUPPLEMENTAL DISCLOSURE
			Three Months Ended September 30, 2025

TABLE OF CONTENTS
												Page
						Glossary of Terms						1
						Results Overview & Guidance						3
						Financial Summary
									Consolidated Balance Sheets			5
									Consolidated Statements of Operations			6
									EBITDA & Reconciliation of Debt Obligations, Net to Net Principal Debt			7
									Funds From Operations (FFO)			8
									Supplemental Balance Sheet Detail			9
									NOI & Supplemental Statement of Operations Detail			10
									Same Property NOI Analysis			11
									Capital Expenditures			12
									Capitalization, Liquidity & Debt Ratios			13
									Debt Obligations			14
									Covenant Disclosure			15
						Investment Summary
									Acquisitions			17
									Dispositions			18
									Anchor Space Repositioning Summary			19
									Outparcel Development Summary			20
									Redevelopment Summary			21
									Future Redevelopment Opportunities			23
						Portfolio Summary
									Portfolio Overview			26
									Portfolio Composition			27
									Top Forty Retailers Ranked by ABR			28
									New & Renewal Lease Summary			29
									New Lease Net Effective Rent & Leases Signed But Not Yet Commenced			30
									Lease Expiration Schedule			31
									Major CBSA Detail			32
									Properties by State			35
									Property List			36
			Note: Financial and operational information is unaudited.
			For additional information, please visit https://www.brixmor.com; follow Brixmor on LinkedIn at https://www.linkedin.com/company/brixmor, Facebook at https://www.facebook.com/Brixmor, Instagram at https://www.instagram.com/brixmorpropertygroup, and YouTube at https://www.youtube.com/user/Brixmor.
			This Supplemental Disclosure may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to the Company’s expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the sections entitled “Forward-Looking Statements” and “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, as such factors may be updated from time to time in the Company's periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company’s other periodic filings with the SEC. The forward looking statements speak only as of the date of this release, and the Company expressly disclaims any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law.

GLOSSARY OF TERMS

↩ Table of Contents

Term

Definition

Anchor Spaces

Spaces equal to or greater than 10,000 square feet ("SF") of GLA.

Anchor Space Repositioning

Anchor leasing that is primarily focused on reconfiguring or significantly remerchandising existing space with minimal work required outside of normal tenant improvement and landlord costs.

Annualized Base Rent ("ABR")

Contractual monthly base rent as of a specified date, under leases that have been signed or commenced as of the specified date, multiplied by 12. Annualized base rent differs from how rent is calculated in accordance with GAAP for purposes of financial statements. See Straight-line Rent definition for additional information. For purposes of calculating ABR, all signed or commenced leases with an initial term of one year or greater are included and all signed leases on space that will be vacated by existing tenants in the near term are excluded.

ABR PSF

ABR divided by leased GLA, excluding the GLA of lessee-owned leasehold improvements.

Billed GLA

Aggregate GLA of all commenced leases with an initial term of one year or greater, as of a specified date.

Core-Based Statistical Areas ("CBSA")

Defined by the United States Census Bureau as the collection of both Metropolitan and Micropolitan Statistical Areas. Metropolitan Statistical Areas are defined as a region associated with at least one urbanized area that has a population of at least 50,000 and comprises the central county or counties containing the core, plus adjacent outlying counties having a high degree of social and economic integration with the central county or counties as measured through commuting. Micropolitan Statistical Areas are defined as a region with at least one urbanized area that has a population of at least 10,000 but less than 50,000, plus adjacent territories that have a high degree of social and economic integration with the central county or counties as measured through commuting. References to CBSA rank are based on population estimates from Synergos Technologies, Inc.

EBITDA, EBITDAre, Adjusted EBITDA, Cash Adjusted EBITDA, Net Principal Debt to Adjusted EBITDA, current quarter annualized, & Net Principal Debt to Adjusted EBITDA, trailing twelve months

Supplemental, non-GAAP performance measures. Please see below for more information on the limitations of non-GAAP performance measures. A reconciliation of net income (calculated in accordance with GAAP) before non-controlling interests to each of these measures is provided on page 7. EBITDA is calculated as the sum of net income (calculated in accordance with GAAP) before non-controlling interests excluding (i) interest expense, (ii) federal and state taxes, and (iii) depreciation and amortization. EBITDAre, which is computed in accordance with Nareit's definition, represents EBITDA excluding (i) gains and losses from the sale of certain real estate assets, (ii) gains and losses from change in control, (iii) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity. Adjusted EBITDA represents EBITDAre excluding (i) gain (loss) on extinguishment of debt, net and (ii) other items that the Company believes are not indicative of the Company's operating performance. Cash Adjusted EBITDA represents Adjusted EBITDA excluding (i) straight-line rental income, net, (ii) accretion of below-market leases, net of amortization of above-market leases and tenant inducements and (iii) straight-line ground rent expense, net. Net Principal Debt to Adjusted EBITDA, current quarter annualized and Net Principal Debt to Adjusted EBITDA, trailing twelve months are calculated as Net Principal Debt divided by quarterly annualized Adjusted EBITDA or trailing twelve month Adjusted EBITDA, respectively. EBITDA, EBITDAre, Adjusted EBITDA, Cash Adjusted EBITDA, Net Principal Debt to Adjusted EBITDA, current quarter annualized, and Net Principal Debt to Adjusted EBITDA, trailing twelve months are calculated after adjustments for unconsolidated joint ventures to reflect each measure on the same basis.

Generally Accepted Accounting Principles ("GAAP")

GAAP refers to a common set of United States of America accounting rules, standards, and procedures issued by the Financial Accounting Standards Board.

Gross Leasable Area ("GLA")

Represents the total amount of leasable property square footage.

Leased GLA

Aggregate GLA of all signed or commenced leases with an initial term of one year or greater, as of a specified date, excluding all signed leases on space that will be vacated by existing tenants in the near term.

Local Tenants

Single-state operators with fewer than 20 locations.

Major Tenants

Any grocer and all national / regional anchor tenants.

Nareit

National Association of Real Estate Investment Trusts.

Nareit Funds From Operations (“FFO")

A supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP performance measures. A reconciliation of net income (calculated in accordance with GAAP) to Nareit FFO is provided on page 8. Nareit defines FFO as net income (calculated in accordance with GAAP) excluding (i) depreciation and amortization related to real estate, (ii) gains and losses from the sale of certain real estate assets, (iii) gains and losses from change in control, (iv) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity and (v) after adjustments for unconsolidated joint ventures calculated to reflect FFO on the same basis.

National / Regional Tenants

Multi-state operators or single-state operators with 20 or more locations and state agencies and government offices. Includes franchise locations.

Net Effective Rent Before Tenant Specific Landlord Work

Average ABR PSF over the lease term adjusted for tenant improvements and allowances (excluding base building costs) and third-party leasing commissions. For purposes of calculating net effective rent before tenant specific landlord work, ABR PSF includes the GLA of lessee-owned leasehold improvements.

Net Operating Income ("NOI")

A supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP performance measures. A reconciliation of net income (calculated in accordance with GAAP) to NOI is provided on page 10. Calculated as total property revenues (base rent, expense reimbursements, adjustments for revenues deemed uncollectible, ancillary and other rental income, percentage rents, and other revenues) less direct property operating expenses (operating costs and real estate taxes). NOI excludes (i) lease termination fees, (ii) straight-line rental income, net, (iii) accretion of below-market leases, net of amortization of above-market leases and tenant inducements, (iv) straight-line ground rent expense, net, (v) depreciation and amortization, (vi) impairment of real estate assets, (vii) general and administrative expense, and (viii) other income and expense (including interest expense and gain on sale of real estate assets).

Net Principal Debt

Debt obligations, net, calculated in accordance with GAAP, excluding net unamortized premium or discount and deferred financing fees less cash, cash equivalents, and restricted cash. A reconciliation of debt obligations, net to Net Principal Debt is provided on page 7.

New Development

Refers to ground up development of new shopping centers. Does not refer to outparcel development.

New Development & Reinvestment Stabilization

New Development and Reinvestment projects are deemed stabilized upon reaching 90.0% billed occupancy of the impacted space. New Development projects are included in the operating portfolio upon the earlier of (i) reaching 90.0% billed occupancy of the impacted space or (ii) one year after the associated assets are placed in service.

NOI Yield

Calculated as the projected incremental NOI as a percentage of the estimated incremental third-party costs of a specified project, net of any project specific credits (lease termination fees or other ancillary credits).

Non-controlling Interests

Relate to the portion of Brixmor Property Group Inc. held by the non-controlling interest holders.

Non-owned Major Tenants

Also known as shadow anchors. Refers to tenants that are situated on parcels that are owned by unrelated third parties, but, due to their location within or immediately adjacent to a shopping center, appear to the consumer as a retail tenant of the shopping center and, as a result, attract additional consumer traffic to the center.

Outparcel(s)

Refers to a portion of a shopping center, separate from the main retail buildings and generally located on the outer edge of a property, which may currently, or in the future, contain one or several freestanding buildings.

Outparcel Development

Construction of a new outparcel. May also refer to the demolition of an existing outparcel building to accommodate the construction of a new outparcel.

Percent Billed

Billed GLA as a percentage of total GLA.

Percent Leased

Leased GLA as a percentage of total GLA.

>			FINANCIAL SUMMARY
			Supplemental Disclosure
			Three Months Ended September 30, 2025

CONSOLIDATED BALANCE SHEETS																								↩ Table of Contents
Unaudited, dollars in thousands, except share information
															As of						As of
															9/30/25						12/31/24
			Assets
						Real estate
									Land						$	1,835,928					$	1,834,814
									Buildings and tenant improvements						9,206,437						8,895,571
									Construction in progress						93,001						152,260
									Lease intangibles						524,966						526,412
															11,660,332						11,409,057
									Accumulated depreciation and amortization						(3,560,508)						(3,410,179)
						Real estate, net									8,099,824						7,998,878
						Cash and cash equivalents									331,544						377,616
						Restricted cash									44,962						1,076
						Marketable securities									21,691						20,301
						Receivables, net, including straight-line rent receivables of $234,299 and $208,785, respectively									306,179						281,947
						Deferred charges and prepaid expenses, net									174,151						167,080
						Real estate assets held for sale									7,408						4,189
						Other assets									63,494						57,827
			Total assets												$	9,049,253					$	8,908,914
			Liabilities
						Debt obligations, net									$	5,493,420					$	5,339,751
						Accounts payable, accrued expenses and other liabilities									592,836						585,241
			Total liabilities												6,086,256						5,924,992
			Equity
						Common stock, $0.01 par value; authorized 3,000,000,000 shares;
									315,227,002 and 314,619,008 shares issued and 306,100,010 and 305,492,016
									shares outstanding						3,061						3,055
						Additional paid-in capital									3,432,972						3,431,043
						Accumulated other comprehensive income									1,895						8,218
						Distributions in excess of net income									(475,197)						(458,638)
						Total stockholders' equity									2,962,731						2,983,678
									Non-controlling interests						266						244
			Total equity												2,962,997						2,983,922
			Total liabilities and equity												$	9,049,253					$	8,908,914

EBITDA & RECONCILIATION OF DEBT OBLIGATIONS, NET TO NET PRINCIPAL DEBT																											↩ Table of Contents
Unaudited, dollars in thousands
									Three Months Ended												Nine Months Ended
									9/30/25						9/30/24						9/30/25						9/30/24
			Net income						$	94,242					$	96,840					$	249,125					$	255,870
						Interest expense			56,680						55,410						165,173						160,553
						Federal and state taxes			653						616						2,113						1,982
						Depreciation and amortization			103,234						94,829						312,108						278,065
			EBITDA						254,809						247,695						728,519						696,470
						Gain on sale of real estate assets			(40,018)						(37,018)						(58,843)						(53,974)
						Impairment of real estate assets			16,075						5,863						16,075						11,143
			EBITDAre						$	230,866					$	216,540					$	685,751					$	653,639
			EBITDAre						$	230,866					$	216,540					$	685,751					$	653,639
						(Gain) Loss on extinguishment of debt, net			—						(273)						296						(554)
						Transaction expenses, net			—						73						22						131
						Total adjustments			—						(200)						318						(423)
			Adjusted EBITDA						$	230,866					$	216,340					$	686,069					$	653,216
			Adjusted EBITDA						$	230,866					$	216,340					$	686,069					$	653,216
						Straight-line rental income, net			(9,858)						(8,133)						(27,120)						(23,669)
						Accretion of below-market leases, net of amortization of above-market leases and tenant inducements			(5,124)						(1,701)						(11,813)						(5,235)
						Straight-line ground rent expense, net (1)			158						(8)						433						(19)
						Total adjustments			(14,824)						(9,842)						(38,500)						(28,923)
			Cash Adjusted EBITDA						$	216,042					$	206,498					$	647,569					$	624,293
(1) Straight-line ground rent expense, net is included in Operating costs on the Consolidated Statements of Operations.
			Reconciliation of Debt Obligations, Net to Net Principal Debt
									As of
									9/30/25
			Debt obligations, net						$	5,493,420
			Less: Net unamortized premium						(10,941)
			Add: Deferred financing fees						35,974
			Less: Cash, cash equivalents and restricted cash						(376,506)
			Net Principal Debt						$	5,141,947
			Adjusted EBITDA, current quarter annualized						$	923,464
			Net Principal Debt to Adjusted EBITDA, current quarter annualized						5.6x
			Adjusted EBITDA, trailing twelve months						$	905,663
			Net Principal Debt to Adjusted EBITDA, trailing twelve months						5.7x