NEW YORK, NY, February 12, 2025 - Urban Edge Properties (NYSE: UE) (the "Company") today announced its results for the quarter and year ended December 31, 2024 and provided its initial outlook for full year 2025.

"The fourth quarter capped an outstanding 2024 for Urban Edge," said Jeff Olson, Chairman and CEO. "FFO as Adjusted increased by 8% for the year to $1.35 per share, allowing us to achieve our three-year earnings target - announced at our April 2023 Investor Day - one year ahead of plan. Growth was driven by new rent commencements, record leasing activity and accretive capital recycling. As a result of our higher earnings and taxable income, we are increasing our dividend by 12%. Looking ahead, we are excited about our prospects to continue to meaningfully grow earnings and cash flow.”

Financial Results(1)(2)

Net income for the year ended December 31, 2024 decreased as compared to 2023 primarily driven by the $217.4 million, or $1.85 per share, gain on sale of real estate recognized in the fourth quarter of 2023 related to two properties and one property parcel. FFO as Adjusted for the year ended December 31, 2024 increased by 8% per share as compared to 2023 and benefited from accretive capital recycling, increased net operating income ("NOI") from rent commencements on new leases, lower levels of uncollected rents and higher non-cash revenues.

Same-Property Operating Results Compared to the Prior Year Period(1)(3)

Increases in same-property NOI metrics for the quarter and year ended December 31, 2024 were driven by rent commencements on new leases and higher net recovery income.

Leasing and Occupancy Results(1)

Acquisition and Disposition Activity

During 2024, the Company acquired $243 million of assets at a 7.2% capitalization rate and sold $109 million of non-core assets at a 5.2% capitalization rate.

As previously announced, on October 29, 2024, the Company acquired The Village at Waugh Chapel for a purchase price of $126 million, representing an initial capitalization rate of 6.6%. The grocery-anchored center is located in Gambrills, MD, a highly educated and affluent trade area that sits within 20 miles of Washington, D.C., Baltimore and Annapolis. The shopping center aggregates 382,000 sf with national tenants including Safeway, Marshalls, HomeGoods, and T.J. Maxx, as well as several high-quality outparcels highlighted by Chick-fil-A and Chipotle. Shop spaces account for approximately 150,000 sf of leasable area and offer strong growth opportunities through in-place contractual rent increases and the re-leasing of below-market spaces.

The acquisition was funded through the assumption of a $60 million, 3.76% interest-only mortgage with a remaining term of approximately seven years, as well as proceeds from equity issuances under the Company's ATM program and asset sales. The Company expects to earn a first-year levered return of approximately 9%.

On October 29, 2024, the Company sold a single-tenant, Home Depot property located in Union, NJ for $71 million, reflecting a 5.4% capitalization rate. The outstanding $44.5 million mortgage encumbering the property was assumed by the buyer at closing. This transaction resulted in a $23.3 million gain and was structured as part of a Section 1031 exchange with the acquisition of The Village at Waugh Chapel, allowing for the deferral of capital gains resulting from the sale for tax purposes.

The Company is currently under contract to sell a portion of its Bergen Town Center East property, located in Paramus, NJ, to a multi-family developer for a price of $25 million.

Financing Activity

During the quarter, the Company borrowed $65 million under its line of credit and subsequently repaid $15 million of the balance. As of December 31, 2024, there was an outstanding balance of $50 million on the Company's line of credit.

On November 21, 2024, the Company refinanced the mortgage secured by its property, Brick Commons, with a new 7-year, $50 million loan bearing interest at a fixed rate of 5.2%. A portion of the proceeds from the refinancing were used to pay off the previous mortgage on the property, which had an outstanding balance of $46.8 million.

As of December 31, 2024, the Company has limited debt maturities coming due through December 31, 2026 including $23.7 million in 2025 and $116 million in 2026, aggregating $139.7 million, which represents approximately 9% of outstanding debt.

Development and Redevelopment

The Company commenced five redevelopment projects with estimated aggregate costs of $8.2 million during the quarter and has $162.6 million of active redevelopment projects underway, with estimated remaining costs to complete of $89.5 million. The active redevelopment projects are expected to generate an approximate 15% unleveraged yield. The Company also stabilized one redevelopment project with the rent commencement of T.J. Maxx at The Outlets at Montehiedra. The project had total costs of $4.8 million.

The Company also reached an agreement with Macy's at Sunrise Mall to terminate its lease with an effective date of March 31, 2025, further advancing our plans for the property.

Balance sheet highlights as of December 31, 2024 include:

2025 Outlook

The Company announced its outlook for full-year 2025 performance including anticipated net income of $0.32 to $0.37 per diluted share, FFO of $1.36 to $1.41 per diluted share, and FFO as Adjusted of $1.37 to $1.42 per diluted share. A reconciliation of net income to FFO and FFO as Adjusted, the assumptions related to the 2025 outlook, and a reconciliation bridging 2024 FFO per diluted share to the 2025 estimates can be found on page 4 of this press release.

Dividend

On February 11, 2025, the Board of Trustees declared a regular quarterly dividend of $0.19 per common share, resulting in an indicated annual rate of $0.76 per share, an annual increase of $0.08 per share or 12%, over the prior annual rate. The dividend will be payable on March 31, 2025 to common shareholders of record on March 14, 2025.

Earnings Conference Call Information

The Company will host an earnings conference call and audio webcast on February 12, 2025 at 8:30am ET. All interested parties can access the earnings call by dialing 1-877-407-9716 (Toll Free) or 1-201-493-6779 (Toll/International) using conference ID 13750364. The call will also be webcast and available in listen-only mode on the investors page of our website: www.uedge.com. A replay will be available at the webcast link on the investors page for one year following the conclusion of the call. A telephonic replay of the call will also be available starting February 12, 2025 at 11:30am ET through Wednesday, February 26, 2025 at 11:59pm ET by dialing 1-844-512-2921 (Toll Free) or 1-412-317-6671 (Toll/International) using conference ID 13750364.

2025 Earnings Guidance

The Company's 2025 earnings guidance anticipates net income of $0.32 to $0.37 per diluted share, FFO of $1.36 to $1.41 per diluted share, and FFO as Adjusted of $1.37 to $1.42 per diluted share. Below is a summary of the underlying assumptions and a reconciliation of the range of estimated earnings, FFO and FFO as Adjusted per diluted share.

The Company's full year outlook is based on the following assumptions:

The following table is a reconciliation bridging our 2024 FFO per diluted share to the Company's estimated 2025 FFO per diluted share:

Non-GAAP Financial Measures

The Company uses certain non-GAAP performance measures, in addition to the primary GAAP presentations, as we believe these measures improve the understanding of the Company's operational results. We continually evaluate the usefulness, relevance, limitations, and calculation of our reported non-GAAP performance measures to determine how best to provide relevant information to the investing public, and thus such reported measures are subject to change. The Company's 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. Additionally, the Company's computation of non-GAAP metrics may not be comparable to similarly titled non-GAAP metrics reported by other real estate investment trusts ("REITs") or real estate companies that define these metrics differently and, as a result, it is important to understand the manner in which the Company defines and calculates each of its non-GAAP metrics. The following non-GAAP measures are commonly used by the Company and investing public to understand and evaluate our operating results and performance:

property NOI may include other adjustments as detailed in the Reconciliation of Net Income to NOI and same-property NOI included in the tables accompanying this press release.

The Company believes net income is the most directly comparable GAAP financial measure to the non-GAAP performance measures outlined above. Reconciliations of these measures to net income have been provided in the tables accompanying this press release.

Operating Metrics

The Company presents certain operating metrics related to our properties, including occupancy, leasing activity and rental rates. Operating metrics used by the Company are useful to investors in facilitating an understanding of the operational performance for our properties.

Recovery ratios represent the percentage of operating expenses recuperated through tenant reimbursements. This metric is presented on a same-property and same-property including redevelopment basis and is calculated by dividing tenant expense reimbursements (adjusted to exclude any ancillary income) by the sum of real estate taxes and property operating expenses.

Occupancy metrics represent the percentage of occupied gross leasable area based on executed leases (including properties in development and redevelopment) and include leases signed, but for which rent has not yet commenced. Same-property portfolio leased occupancy includes properties that have been owned and operated for the entirety of the reporting periods being compared, which total 65 properties for the quarters and years ended December 31, 2024 and 2023. Occupancy metrics presented for the Company's same-property portfolio exclude properties under development, redevelopment or that involve anchor repositioning where a substantial portion of the gross leasable area is taken out of service and also excludes properties acquired within the past 12 months or properties sold, and properties that are in the foreclosure process during the periods being compared.

Executed new leases, renewals and exercised options are presented on a same-space basis. Same-space leases represent those leases signed on spaces for which there was a previous lease.

The Company occasionally provides disclosures by tenant categories which include anchors, shops and industrial/self-storage. Anchors and shops are further broken down by local, regional, and national tenants. We define anchor tenants as those who have a leased area of >10,000 sf. Local tenants are defined as those with less than five locations. Regional tenants are those with five or more locations in a single region. National tenants are defined as those with five or more locations and operate in two or more regions.

ADDITIONAL INFORMATION

For a copy of the Company’s supplemental disclosure package, please access the "Investors" section of our website at www.uedge.com. Our website also includes other financial information, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and any amendments to those reports.

The Company uses, and intends to continue to use, the “Investors” page of its website, which can be found at www.uedge.com, as a means of disclosing material nonpublic information and of complying with its disclosure obligations under Regulation FD, including, without limitation, through the posting of investor presentations that may include material nonpublic information. Accordingly, investors should monitor the “Investors” page, in addition to following the Company's press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

ABOUT URBAN EDGE

Urban Edge Properties is a NYSE listed real estate investment trust focused on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, D.C. to Boston corridor. Urban Edge owns 75 properties totaling 17.4 million square feet of gross leasable area.

FORWARD-LOOKING STATEMENTS

Certain statements contained herein constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of future performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition, business and targeted occupancy may differ materially from those expressed in these forward-looking statements. You can identify many of these statements by words such as “approximates,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “would,” “may” or other similar expressions in this press release. Many of the factors that will determine the outcome of forward-looking statements are beyond our ability to control or predict and include, among others: (i) macroeconomic conditions, including geopolitical conditions and instability, which may lead to rising inflation and disruption of, or lack of access to, the capital markets, as well as potential volatility in the Company’s share price; (ii) the economic, political and social impact of, and uncertainty relating to, epidemics and pandemics; (iii) the loss or bankruptcy of major tenants; (iv) the ability and willingness of the Company’s tenants to renew their leases with the Company upon expiration and the Company’s ability to re-lease its properties on the same or better terms, or at all, in the event of non-renewal or in the event the Company exercises its right to replace an existing tenant; (v) the impact of e-commerce on our tenants’ business; (vi) the Company’s success in implementing its business strategy and its ability to identify, underwrite, finance, consummate and integrate diversifying acquisitions and investments; (vii) changes in general economic conditions or economic conditions in the markets in which the Company competes, and their effect on the Company’s revenues, earnings and funding sources, and on those of its tenants; (viii) increases in the Company’s borrowing costs as a result of changes in interest rates, rising inflation, and other factors; (ix) the Company’s ability to pay down, refinance, hedge, restructure or extend its indebtedness as it becomes due and potential limitations on the Company’s ability to borrow funds under its existing credit facility as a result of covenants relating to the Company’s financial results; (x) potentially higher costs associated with the Company’s development, redevelopment and anchor repositioning projects, and the Company’s ability to lease the properties at projected rates; (xi) the Company’s liability for environmental matters; (xii) damage to the Company’s properties from catastrophic weather and other natural events, and the physical effects of climate change; (xiii) the Company’s ability and willingness to maintain its qualification as a REIT in light of economic, market, legal, tax and other considerations; (xiv) information technology security breaches; (xv) the loss of key executives; and (xvi) the accuracy of methodologies and estimates regarding our environmental, social and governance (collectively, our Corporate Responsibility or “CR”) metrics, goals and targets, tenant willingness and ability to collaborate towards reporting CR metrics and meeting CR goals and targets, and the impact of governmental regulation on our CR efforts. For further discussion of factors that could materially affect the outcome of our forward-looking statements, see “Risk Factors” in Part I, Item 1A, of the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

We claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for any forward-looking statements included in this press release. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to our forward-looking statements to reflect events or circumstances occurring after the date of this press release.

URBAN EDGE PROPERTIES

CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share amounts) 

URBAN EDGE PROPERTIES

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share amounts)

Reconciliation of Net Income to FFO and FFO as Adjusted

The following table reflects the reconciliation of net income to FFO and FFO as Adjusted for the quarters and years ended December 31, 2024 and 2023. Net income is considered the most directly comparable GAAP measure. Refer to "Non-GAAP Financial Measures" on page 5 for a description of FFO and FFO as Adjusted.

Reconciliation of Net Income to NOI and Same-Property NOI

The following table reflects the reconciliation of net income to NOI, same-property NOI and same-property NOI including properties in redevelopment for the quarters and years ended December 31, 2024 and 2023. Net income is considered the most directly comparable GAAP measure. Refer to "Non-GAAP Financial Measures" on page 5 for a description of NOI and same-property NOI.

Reconciliation of Net Income to EBITDAre and Adjusted EBITDAre

The following table reflects the reconciliation of net income to EBITDAre and Adjusted EBITDAre for the quarters and years ended December 31, 2024 and 2023. Net income is considered the most directly comparable GAAP measure. Refer to "Non-GAAP Financial Measures" on page 5 for a description of EBITDAre and Adjusted EBITDAre.

Exhibit 99.2

NEW YORK, NY, February 12, 2025 - Urban Edge Properties (NYSE: UE) (the "Company") today announced its results for the quarter and year ended December 31, 2024 and provided its initial outlook for full year 2025.

"The fourth quarter capped an outstanding 2024 for Urban Edge," said Jeff Olson, Chairman and CEO. "FFO as Adjusted increased by 8% for the year to $1.35 per share, allowing us to achieve our three-year earnings target - announced at our April 2023 Investor Day - one year ahead of plan. Growth was driven by new rent commencements, record leasing activity and accretive capital recycling. As a result of our higher earnings and taxable income, we are increasing our dividend by 12%. Looking ahead, we are excited about our prospects to continue to meaningfully grow earnings and cash flow.”

Financial Results(1)(2)

Net income for the year ended December 31, 2024 decreased as compared to 2023 primarily driven by the $217.4 million, or $1.85 per share, gain on sale of real estate recognized in the fourth quarter of 2023 related to two properties and one property parcel. FFO as Adjusted for the year ended December 31, 2024 increased by 8% per share as compared to 2023 and benefited from accretive capital recycling, increased net operating income ("NOI") from rent commencements on new leases, lower levels of uncollected rents and higher non-cash revenues.

Same-Property Operating Results Compared to the Prior Year Period(1)(3)

Increases in same-property NOI metrics for the quarter and year ended December 31, 2024 were driven by rent commencements on new leases and higher net recovery income.

Leasing and Occupancy Results(1)

Acquisition and Disposition Activity

During 2024, the Company acquired $243 million of assets at a 7.2% capitalization rate and sold $109 million of non-core assets at a 5.2% capitalization rate.

As previously announced, on October 29, 2024, the Company acquired The Village at Waugh Chapel for a purchase price of $126 million, representing an initial capitalization rate of 6.6%. The grocery-anchored center is located in Gambrills, MD, a highly educated and affluent trade area that sits within 20 miles of Washington, D.C., Baltimore and Annapolis. The shopping center aggregates 382,000 sf with national tenants including Safeway, Marshalls, HomeGoods, and T.J. Maxx, as well as several high-quality outparcels highlighted by Chick-fil-A and Chipotle. Shop spaces account for approximately 150,000 sf of leasable area and offer strong growth opportunities through in-place contractual rent increases and the re-leasing of below-market spaces.

The acquisition was funded through the assumption of a $60 million, 3.76% interest-only mortgage with a remaining term of approximately seven years, as well as proceeds from equity issuances under the Company's ATM program and asset sales. The Company expects to earn a first-year levered return of approximately 9%.

On October 29, 2024, the Company sold a single-tenant, Home Depot property located in Union, NJ for $71 million, reflecting a 5.4% capitalization rate. The outstanding $44.5 million mortgage encumbering the property was assumed by the buyer at closing. This transaction resulted in a $23.3 million gain and was structured as part of a Section 1031 exchange with the acquisition of The Village at Waugh Chapel, allowing for the deferral of capital gains resulting from the sale for tax purposes.

The Company is currently under contract to sell a portion of its Bergen Town Center East property, located in Paramus, NJ, to a multi-family developer for a price of $25 million.

Financing Activity

During the quarter, the Company borrowed $65 million under its line of credit and subsequently repaid $15 million of the balance. As of December 31, 2024, there was an outstanding balance of $50 million on the Company's line of credit.

On November 21, 2024, the Company refinanced the mortgage secured by its property, Brick Commons, with a new 7-year, $50 million loan bearing interest at a fixed rate of 5.2%. A portion of the proceeds from the refinancing were used to pay off the previous mortgage on the property, which had an outstanding balance of $46.8 million.

As of December 31, 2024, the Company has limited debt maturities coming due through December 31, 2026 including $23.7 million in 2025 and $116 million in 2026, aggregating $139.7 million, which represents approximately 9% of outstanding debt.

Development and Redevelopment

The Company commenced five redevelopment projects with estimated aggregate costs of $8.2 million during the quarter and has $162.6 million of active redevelopment projects underway, with estimated remaining costs to complete of $89.5 million. The active redevelopment projects are expected to generate an approximate 15% unleveraged yield. The Company also stabilized one redevelopment project with the rent commencement of T.J. Maxx at The Outlets at Montehiedra. The project had total costs of $4.8 million.

The Company also reached an agreement with Macy's at Sunrise Mall to terminate its lease with an effective date of March 31, 2025, further advancing our plans for the property.

Balance sheet highlights as of December 31, 2024 include:

2025 Outlook

The Company announced its outlook for full-year 2025 performance including anticipated net income of $0.32 to $0.37 per diluted share, FFO of $1.36 to $1.41 per diluted share, and FFO as Adjusted of $1.37 to $1.42 per diluted share. A reconciliation of net income to FFO and FFO as Adjusted, the assumptions related to the 2025 outlook, and a reconciliation bridging 2024 FFO per diluted share to the 2025 estimates can be found on page 4 of this press release.

Dividend

On February 11, 2025, the Board of Trustees declared a regular quarterly dividend of $0.19 per common share, resulting in an indicated annual rate of $0.76 per share, an annual increase of $0.08 per share or 12%, over the prior annual rate. The dividend will be payable on March 31, 2025 to common shareholders of record on March 14, 2025.

Earnings Conference Call Information

The Company will host an earnings conference call and audio webcast on February 12, 2025 at 8:30am ET. All interested parties can access the earnings call by dialing 1-877-407-9716 (Toll Free) or 1-201-493-6779 (Toll/International) using conference ID 13750364. The call will also be webcast and available in listen-only mode on the investors page of our website: www.uedge.com. A replay will be available at the webcast link on the investors page for one year following the conclusion of the call. A telephonic replay of the call will also be available starting February 12, 2025 at 11:30am ET through Wednesday, February 26, 2025 at 11:59pm ET by dialing 1-844-512-2921 (Toll Free) or 1-412-317-6671 (Toll/International) using conference ID 13750364.

2025 Earnings Guidance

The Company's 2025 earnings guidance anticipates net income of $0.32 to $0.37 per diluted share, FFO of $1.36 to $1.41 per diluted share, and FFO as Adjusted of $1.37 to $1.42 per diluted share. Below is a summary of the underlying assumptions and a reconciliation of the range of estimated earnings, FFO and FFO as Adjusted per diluted share.

The Company's full year outlook is based on the following assumptions:

The following table is a reconciliation bridging our 2024 FFO per diluted share to the Company's estimated 2025 FFO per diluted share:

Non-GAAP Financial Measures

The Company uses certain non-GAAP performance measures, in addition to the primary GAAP presentations, as we believe these measures improve the understanding of the Company's operational results. We continually evaluate the usefulness, relevance, limitations, and calculation of our reported non-GAAP performance measures to determine how best to provide relevant information to the investing public, and thus such reported measures are subject to change. The Company's 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. Additionally, the Company's computation of non-GAAP metrics may not be comparable to similarly titled non-GAAP metrics reported by other real estate investment trusts ("REITs") or real estate companies that define these metrics differently and, as a result, it is important to understand the manner in which the Company defines and calculates each of its non-GAAP metrics. The following non-GAAP measures are commonly used by the Company and investing public to understand and evaluate our operating results and performance:

property NOI may include other adjustments as detailed in the Reconciliation of Net Income to NOI and same-property NOI included in the tables accompanying this press release.

The Company believes net income is the most directly comparable GAAP financial measure to the non-GAAP performance measures outlined above. Reconciliations of these measures to net income have been provided in the tables accompanying this press release.

Operating Metrics

The Company presents certain operating metrics related to our properties, including occupancy, leasing activity and rental rates. Operating metrics used by the Company are useful to investors in facilitating an understanding of the operational performance for our properties.

Recovery ratios represent the percentage of operating expenses recuperated through tenant reimbursements. This metric is presented on a same-property and same-property including redevelopment basis and is calculated by dividing tenant expense reimbursements (adjusted to exclude any ancillary income) by the sum of real estate taxes and property operating expenses.

Occupancy metrics represent the percentage of occupied gross leasable area based on executed leases (including properties in development and redevelopment) and include leases signed, but for which rent has not yet commenced. Same-property portfolio leased occupancy includes properties that have been owned and operated for the entirety of the reporting periods being compared, which total 65 properties for the quarters and years ended December 31, 2024 and 2023. Occupancy metrics presented for the Company's same-property portfolio exclude properties under development, redevelopment or that involve anchor repositioning where a substantial portion of the gross leasable area is taken out of service and also excludes properties acquired within the past 12 months or properties sold, and properties that are in the foreclosure process during the periods being compared.

Executed new leases, renewals and exercised options are presented on a same-space basis. Same-space leases represent those leases signed on spaces for which there was a previous lease.

The Company occasionally provides disclosures by tenant categories which include anchors, shops and industrial/self-storage. Anchors and shops are further broken down by local, regional, and national tenants. We define anchor tenants as those who have a leased area of >10,000 sf. Local tenants are defined as those with less than five locations. Regional tenants are those with five or more locations in a single region. National tenants are defined as those with five or more locations and operate in two or more regions.

Reconciliation of Net Income to FFO and FFO as Adjusted

The following table reflects the reconciliation of net income to FFO and FFO as Adjusted for the quarters and years ended December 31, 2024 and 2023. Net income is considered the most directly comparable GAAP measure. Refer to "Non-GAAP Financial Measures" on page 5 for a description of FFO and FFO as Adjusted.

Reconciliation of Net Income to NOI and Same-Property NOI

The following table reflects the reconciliation of net income to NOI, same-property NOI and same-property NOI including properties in redevelopment for the quarters and years ended December 31, 2024 and 2023. Net income is considered the most directly comparable GAAP measure. Refer to "Non-GAAP Financial Measures" on page 5 for a description of NOI and same-property NOI.

Reconciliation of Net Income to EBITDAre and Adjusted EBITDAre

The following table reflects the reconciliation of net income to EBITDAre and Adjusted EBITDAre for the quarters and years ended December 31, 2024 and 2023. Net income is considered the most directly comparable GAAP measure. Refer to "Non-GAAP Financial Measures" on page 5 for a description of EBITDAre and Adjusted EBITDAre.

ADDITIONAL INFORMATION

For a copy of the Company’s supplemental disclosure package, please access the "Investors" section of our website at www.uedge.com. Our website also includes other financial information, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and any amendments to those reports.

The Company uses, and intends to continue to use, the “Investors” page of its website, which can be found at www.uedge.com, as a means of disclosing material nonpublic information and of complying with its disclosure obligations under Regulation FD, including, without limitation, through the posting of investor presentations that may include material nonpublic information. Accordingly, investors should monitor the “Investors” page, in addition to following the Company's press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

ABOUT URBAN EDGE

Urban Edge Properties is a NYSE listed real estate investment trust focused on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, D.C. to Boston corridor. Urban Edge owns 75 properties totaling 17.4 million square feet of gross leasable area.

FORWARD-LOOKING STATEMENTS

Certain statements contained herein constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of future performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition, business and targeted occupancy may differ materially from those expressed in these forward-looking statements. You can identify many of these statements by words such as “approximates,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “would,” “may” or other similar expressions in this press release. Many of the factors that will determine the outcome of forward-looking statements are beyond our ability to control or predict and include, among others: (i) macroeconomic conditions, including geopolitical conditions and instability, which may lead to rising inflation and disruption of, or lack of access to, the capital markets, as well as potential volatility in the Company’s share price; (ii) the economic, political and social impact of, and uncertainty relating to, epidemics and pandemics; (iii) the loss or bankruptcy of major tenants; (iv) the ability and willingness of the Company’s tenants to renew their leases with the Company upon expiration and the Company’s ability to re-lease its properties on the same or better terms, or at all, in the event of non-renewal or in the event the Company exercises its right to replace an existing tenant; (v) the impact of e-commerce on our tenants’ business; (vi) the Company’s success in implementing its business strategy and its ability to identify, underwrite, finance, consummate and integrate diversifying acquisitions and investments; (vii) changes in general economic conditions or economic conditions in the markets in which the Company competes, and their effect on the Company’s revenues, earnings and funding sources, and on those of its tenants; (viii) increases in the Company’s borrowing costs as a result of changes in interest rates, rising inflation, and other factors; (ix) the Company’s ability to pay down, refinance, hedge, restructure or extend its indebtedness as it becomes due and potential limitations on the Company’s ability to borrow funds under its existing credit facility as a result of covenants relating to the Company’s financial results; (x) potentially higher costs associated with the Company’s development, redevelopment and anchor repositioning projects, and the Company’s ability to lease the properties at projected rates; (xi) the Company’s liability for environmental matters; (xii) damage to the Company’s properties from catastrophic weather and other natural events, and the physical effects of climate change; (xiii) the Company’s ability and willingness to maintain its qualification as a REIT in light of economic, market, legal, tax and other considerations; (xiv) information technology security breaches; (xv) the loss of key executives; and (xvi) the accuracy of methodologies and estimates regarding our environmental, social and governance (collectively, our Corporate Responsibility or “CR”) metrics, goals and targets, tenant willingness and ability to collaborate towards reporting CR metrics and meeting CR goals and targets, and the impact of governmental regulation on our CR efforts. For further discussion of factors that could materially affect the outcome of our forward-looking statements, see “Risk Factors” in Part I, Item 1A, of the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

We claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for any forward-looking statements included in this press release. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to our forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Basis of Presentation

Non-GAAP Financial Measures and Forward-Looking Statements