EFTA01388952.pdf

18 October 2016 REITs US REIT 3O16 Earnings Preview [Figure 62: REG 3016 results preview Me 11015 loll *Ole 2016 &Me Anal Mud oM Cease Pm 30 Quids Pon30 St DIM OM FFO:911 $076 $081 $023 $2 71 • 52 76 $272 Coro FRI'sh 90 76 SD 82 5080 5090 93 22 - 53 2, £327 53 26 Opining Mora Malt DG Pm 30 Gukie Pea 30 PAM Dee leasing whine rpromla paned. op propintasa 1156 1.542 New leasng 990m-rata. comp • non-comp, signed/ 360 392 Renewal leasng volume 1pro-rata. scrod) 796 1 150 Occupascv rpro-rata signed. c9 progenies 96 1% 960% 919% commenced 95 0% - 965% SS ccc 95 36% commenced VI ch 20bp .212bp 251:9 NY ch 201m 10bp 5706p 25bp Blended rent spread Mesh. prorate. synod. op properbes1 58% 122% 100% commenced 12 0% commenced New lease Spread Iona. profits. alined) 12.9% 290% Renews Spread leash. promla. sired, 76% 9.1% 55 NOlorpmh 'fry (cash. pro-rate. ex-termination fees) 47% 34% 275% to 3 6% Nom consensus estimates are based en Ronson compiled dna as of 10/14/16 • Expect SS NOI to moderate in 2H from higher comps and bankruptcies • Update on redevelopment plans of the office building at the recent Clarendon acquisition. • Update on any acquisition opportunities in the marketplace • Update on leasing two remaining Sports Authority boxes • Thoughts on Amazon's continued push into grocery Update on redevelopment opportunities Sane Dearrete Se A. etOryWry dri. Thar,Kin Deutsche Bank Securities Inc. Page 33 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0092960 CONFIDENTIAL SDNY_GM_00239144 EFTA01388952