1 North America’s Largest Owner, Operator & Manager of Neighborhood & Community Shopping Centers

2 SAFE HARBOR

The statements in this presentation, including targets and assumptions, state the Company’s and management’s hopes, intentions, beliefs, expectations or projections of the future and are forward-looking statements. It is important to note that the Company’s actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from current expectations include the key assumptions contained with this presentation, general economic conditions, local real estate conditions, increases in interest rates, foreign currency exchange rates, increases in operating costs and real estate taxes. Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the Company’s SEC filings, including but not limited to the Company’s report on Form 10-K. Copies of each filing may be obtained from the Company or the SEC.

3 Manetto Hill Plaza KIMCO STRATEGY & DIRECTION Plainview, New York

4 LARGEST SHOPPING CENTER OWNER AND OPERATOR IN NORTH AMERICA

History Started in 1958 | IPO that initiated modern REIT era; NYSE-listed for ~20 years | S&P 500 Index (2006) Dividend $0.72 annually, ~3.9% yield (06/30/11) Shopping Center Properties 946 properties; 137.8M / 88.9M sq. ft. (gross/pro-rata) Geographic Footprint 44 states, Puerto Rico, Canada, Mexico and South America Occupancy (pro-rata) 5-year average: 94.1% | High: 96.3% (12/31/07) / Low: 92.3% (6/30/09) Enterprise Value $12.6B (06/30/11) Credit Rating Investment Grade  BBB+ | BBB+ | Baa1 (S&P | Fitch | Moody’s)

5 STRATEGY

Our Vision Is To Be the Premier Owner and Operator of Shopping Centers

Shopping Centers

Equity Based Investments Recurring Income

Investment Opportunistic Wholly Owned U.S / Canada / Mexico Management Retail Investments

Capitalize on 50 Year History, Size/Scale and Strength of Retailer Relationships

6 THE CASE FOR RETAIL REAL ESTATE: TODAY’S MARKET

Retail Sales above Pre-Recession Levels

Retail Real Estate 102

100

• June same-store sales had a positive increase of 98 5.7% 96 • Planned store openings have increased in 9 of the last 10 months and expected continued Index 94 growth over the next 24 months 92 • Ground up development non-existent….supply 90

being absorbed 88 2007 2008 2009 2010 Making the case for retail today… Employment Index Retail Sales Index GDP Index

Store Openings for Retailers Hit a Record in June Dramatic Decrease in Retail Development 80,000 250 70,000 60,000 200 Lowest amount on 50,000 record for 150 industry 40,000 going back to 1958.1 30,000 # of Stores 100 20,000 10,000 50

- Square Feet (in Millions)

0

Next 12 Months Next 24 Months

Source: CoSTAR and Retail Lease Trac & RBC Capital Markets 1 Retail Traffic Magazine, “Building Tension” March/April 2011

7 THE CASE FOR RETAIL REAL ESTATE: HISTORICAL PERSPECTIVE

Retail Sales Outpacing Retail Supply

Smallest spread between sales and supply

Source: Property and Portfolio Research

Industry Benchmark Occupancy 98.0% Highest Occ. All-Time 95.7% 96.0% Low Avg. Occ. Occupancy 92.6% 88.7% 94.0%

92.0%

90.0%

88.0%

86.0%

84.0% 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Source: NCREIF Neighborhood shopping centers occupancy rate was at an all-time low in 1992 at 88.7% and the highest in 2000 at 95.7% 8 WHY KIMCO

Resilient Portfolio • Geographically diversified • Redevelopment program • Asset recycling

Solid Tenant Mix Necessity vs. • Credit quality Specialty • Low single tenant • Well-balanced between exposure grocery vs. big box

Stability Growth

9 INTERNATIONAL EXPOSURE IS A KEY DIFFERENTIATOR...

• 131 shopping centers totaling 24.7M /15.1M sq. ft. (gross/pro-rata)  Canada, Mexico, Chile, Brazil and Peru

• High quality portfolio of assets resulting in solid tenant line-up, good mix

• Canada remains key element of international portfolio

• Mexico and Latin America  Long-term investment opportunity

• U.S.-based retailers, such as Wal-Mart, Home Depot and Best Buy, extending their reach

• Leveraging established local relationships to add value

…First Mover Status Has Positioned Kimco as a Strong International Player

10 INVESTMENT MANAGEMENT PLATFORM CONTINUES TO SERVE AS STEADY GROWTH VEHICLE

Investment Management Platform Assets Under Management ($B)

$14.0 $14.0 • Low cost of capital  Competitive advantage + recurring, stable fees $12.5

$10.5 • 285 shopping center properties totaling $10.0 43.8M sq. ft.

• $10B in assets under management $7.0

• Kimco ranked #20 among largest real $5.5 estate investment managers* • Highest AUM among REITs * $3.5 $2.6 $1.8 $1.3 $0.9 • 14 co-investment programs and 24 institutional $0.6 partners 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

ROE Boosted By Long-Term, Recurring and Contractual Fee Income Stream

* Source: Pensions & Investments, 2010

11 ABILITY TO ACT OPPORTUNISTICALLY WITH RETAILER-CONTROLLED REAL ESTATE…

• Remain focused on working directly with retailers on: – Sale leasebacks – Bankruptcy transactions – Property dispositions

• Current economic environment coupled with strong retail relationships should continue to yield profitable investment opportunities

• Decades of retail property experience and financial acumen resulting in solid track record of unlocking value

…Has Led to Long History of Value Creation

12 Millside Plaza SHOPPING CENTER PORTFOLIO STRATEGY Delran, New Jersey

13 KIMCO SHOPPING CENTER HISTORY

2011 – 20th Anniversary of IPO

Form Acquire/Sell Acquire Pan Kimco Montgomery Pacific Retail Income Ward Asset Properties with Form New REIT Prudential R.E. JVs: Acquire (KIR) Acquire Investors 60 leases Price REIT Acquire Kimmel/Cooper IPO Mid- Privatization Develop Coral Form JV w/ Enters Atlantic Way in Miami RioCan REIT Mexico Acquire REIT Sale/Leaseback Price Legacy Corp.

2010 & 1958 1980s 1990s 1991 1995 1998 1999 2002 2003 2004 2006 2001 Beyond

Business Model Business Model Business Model Development/Acquisitions Development/Private Acquisitions Enhanced West Coast Acquisitions National Platform Exposure NY / FL / OH International Platform

14 NORTH AMERICAN FOOTPRINT OF QUALITY ASSETS

Canada U.S. Mexico

• 62 centers • 815 centers • 55 centers • 11.7M / 6.0M sq. ft. • 113.2M / 73.8M sq. ft. • 12.2M / 8.6M sq. ft. (gross / pro-rata) (gross / pro-rata) (gross / pro-rata) • $15.57 per sq. ft. • $11.75 per sq. ft. • $11.82 per sq. ft. • 97.0% occupancy • 92.6% occupancy • 88.3% occupancy • Top tenants: • Top tenants: • Top tenants: • TJ Maxx • Home Depot • Wal-Mart • Target* • TJ Maxx • Cinepolis • Canadian Tire • Wal-Mart • HEB

*Represents former Zellers that are being converted to a Target store

Note: USD$ per sq. ft. and occupancy as of 06/30/11 are shown at pro-rata interest. Centers and square footage include properties not in occupancy.

15 PORTFOLIO HAS REMAINED RESILIENT OVER THE GREAT RECESSION

Leasing Spreads Same-Site NOI Growth

KIM vs. Peer Avg. KIM vs. Peer Avg. 92.3%0.9% vs.vs. -0.1%92.2% 0.4% vs. -1.2% 6.0% 4.0% 5.3% 5.1% 3.1% 5.0% 3.0%

2.1% 2.2% 4.0% 2.0% 1.8% 1.7% 3.4% 1.3% 1.0% 0.7% 3.0% 1.0% 0.6% 2.1% 2.0% -0.1% 2.0% 0.0% -0.2% 1.5% 1.4% -0.5% 1.0% -1.1% 1.0% 1.3% -1.0% 0.3% -1.6% -1.8% 0.0% -0.2% -2.0% -2.5% -0.2% -0.8% -2.9% -1.0% -1.4% -3.0% -3.4% -1.6% -1.0% -2.0% -4.0% -3.6% -2.7% -4.7% -3.0% -2.8% -5.0% -3.0% -2.6% Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211 -4.0% -6.0% Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211

Kimco Peer Group Avg. Kimco Peer Group Avg.

Peer Group (FRT, REG, DDR, WRI, AKR, EQY) Peer Group (FRT, REG, DDR, WRI, CDR, EQY) Source: Company Reports as of 06/30/11 Source: ISI Group

16 U.S. SHOPPING CENTER PORTFOLIO PROFILE BY ABR

Major Anchor 20% 42% Junior Anchor (Over 60K sq. ft.) (10K – 60 sq. ft.)

Mid Shops 11% (5K – 10K sq. ft.)

Local 15% 12% National Shops (<5K sq. ft.) (< 5K sq. ft.)

62% of ABR Generated from Major and Junior Anchors – High Quality, Good Credit Tenants

17 U.S. SHOPPING CENTER CATEGORIZATION BY ABR

Grocery Anchored : 39% Centers with food component: : 17%

Lifestyle Center Total : 56% Power Center- no food component 2.8% Other 5.8% 2.7%

Power Center- with food component Neighborhood & Community 12.6% Center- no food component 33.0%

Neighborhood & Community Center- with food component Grocery Anchored- Neighborhood 4.5% & Community Center 38.6%

Food Component Includes: BJ's Wholesale Club, Costco Wholesale, Sam's Club, Super Kmart, Super Target, Wal-Mart Supercenter

18 STABILITY DRIVEN BY DIVERSIFIED TENANT EXPOSURE AND ANNUAL BASE RENT ACROSS MANY REGIONS

Top Tenant Overview by ABR Market Exposure by ABR

3.1%

* Only 14 tenants CA 13.4% International with exposure > 1.0% 2.8% FL 9.6% Canada 9.6% 2.5% NY 8.0% Latin America 4.9% / 2.2%

1.6%* Puerto Rico 3.4%

PA 4.9% 1.5%

1.4% TX 4.7% NJ 4.2% IL 3.9% 1.3%*

1.1%* All Others 33.4%

1.0%*

* Each 0.9%

19 TALENTED AND EXPERIENCED OPERATING TEAM

Kelly Smith Rob Nadler Managing Director President Canada Central Region 24 Years Experience 30 Years Experience 62 Properties 193 Properties 11.7M sq. ft. 27.7M sq. ft.

Conor Flynn Tom Simmons President President Western Region Northeast & 8 Years Experience Mid-Atl. Regions 198 Properties 18 Years Experience 32.0M sq. ft. 269 Properties 29.2M sq. ft.

Paul Puma President Mike Melson Southeast & Managing Director Florida Regions Latin America 30 Years Experience 15 Years Experience 55 Properties in Mexico 155 Properties 12.2M sq. ft. 24.2M sq. ft.

Strong Reliance on Regional Operating Structure

20 REGIONAL OCCUPANCY TREND (PRORATA)

98.0%

96.0%

2Q11 Occupancy 94.0% 92.6%

92.0%

90.0%

88.0%

86.0%

84.0% Northeast Mid-Atlantic Southeast Florida Puerto Rico Central Pacific Southwest Northwest 2Q10 3Q10 4Q10 1Q11 2Q11

21 U.S. SHOPPING CENTER PORTFOLIO – POSITIONED FOR THE FUTURE

Portfolio Profile Strategic Profile

1. Top 20 MSA’s, including Puerto Rico, generate 450 more than 60% of ABR 413 400 2. Remaining strategic assets provide very stable and 350 safe operating cash flows JV 211 300 REIT 261 3. Located in desirable markets with a 3 mile 250 demographic profile

200 113 • Offer most redevelopment potential 139 150 Non-Strategic Profile 37 100 202

Number of Number of Properties 148 1. Bottom 139 targeted to be sold 50 102 • Proceeds to initiate our capital recycling 0 plan  fund redevelopment projects & Top 20 MSAs acquisition opportunities 2. Characteristics of Assets 674 Total Non-strategic Assets Strategic Assets* 10% of ABR • Challenged market 90% of ABR • Stubborn vacancy • Small, single use * Excludes two properties not in occupancy • Secondary/tertiary locations • Limited growth

22 EXTERNAL GROWTH DIMENSION – QUALITY OVER QUANTITY

Acquisition Focus Targets… …With An Eye On More Opportunistic Buys Outside of Top 20 MSAs

• Grocery or national big box • Higher CAGR anchored centers • Barriers-to-entry • Top 20 MSAs • Attractive pricing with value creation play • Emphasis on strong tenancy, rollover • Strong demographics & growth estimates opportunity…not risk! Riverplace Shopping Center Jacksonville, FL

23 U.S. SHOPPING CENTER EXECUTION Factoria Marketplace Bellevue, Washington

24 U.S. PORTFOLIO PROFILE

# of % of U.S. Strategic Assets – ABR Strategic Assets Sites Strategic  674* ABR

Top 10 MSA 270 40%

Key Assets (413) Next 10 Next 10 MSA Top 10 MSA, 22% 137 22% MSA, 40% P.R. 4% 90% of ABR Puerto Rico (P.R.) 6 4%

Remaining 261 34% Remaining, 34%

Disposition Non-Strategic  Candidates 139 10%

* Excludes 2 properties not included in occupancy

25 U.S. STRATEGIC ASSETS – PROPERTY AND TENANT OVERVIEW

Shopping Center Categorization by ABR Top Tenant Overview by ABR

3.6% Grocery Anchored : 39% Centers with food component: : 18% 3.1% Total : 57% / 2.7%

2.1% Power Center- no food component Lifestyle Center Neighborhood & 1.9% 6.1% 2.5% Other Community Center- no 2.1% food component 32.2% 1.8%* Power Center- with food component 13.7% 1.7%

1.5%

1.4% Grocery Anchored- Neighborhood & Neighborhood & Community Center Community Center- with 1.3% 38.8% food component 4.6%

1.2%*

Food Component Includes: BJ’s Wholesale Club, Costco Wholesale, Sam’s Club, * Each Super Kmart, Super Target, Wal-Mart Supercenter 1.1%*

26 TOP 20 MSA LOCATIONS

Within 3 Mile Radius Market Data MSA *Median @ MSA Ranked By Number of % Total *Household HH Income Level Pop. MSA/ MISA / County Properties ABR *Total Pop. Density (MHHI) (MHHI) 1 New York-Northern New Jersey-Long Island 62 13.2% 189,322 2,332 85,888 62,153 2 Los Angeles-Long Beach-Santa Ana 28 5.1% 205,189 2,313 67,743 57,619 3 Chicago-Naperville-Joliet 27 3.4% 125,455 1,643 78,749 61,152 4 Dallas-Fort Worth-Arlington 15 2.1% 86,420 1,062 76,882 57,320 5 Houston-Sugar Land-Baytown 10 1.4% 80,600 1,001 68,224 55,130 6 Philadelphia-Camden-Wilmington 30 5.4% 110,120 1,609 76,148 59,115 7 Miami-Fort Lauderdale-Pompano Beach 28 5.5% 127,788 1,699 53,007 49,314 8 Atlanta-Sandy Springs-Marietta 6 0.9% 66,548 833 83,257 60,569 9 Washington-Arlington-Alexandria 61 3.8% 97,207 1,331 85,953 81,903 10 Boston-Cambridge-Quincy 4 0.8% 35,514 462 74,934 68,105 11 Phoenix-Mesa-Scottsdale 11 3.1% 127,897 1,579 53,646 56,979 13 San Francisco-Oakland-Fremont 15 3.5% 169,569 1,847 85,247 73,815 14 Riverside-San Bernardino-Ontario 10 2.0% 95,569 979 70,705 56,862 15 Seattle-Tacoma-Bellevue 10 1.7% 76,679 1,079 67,077 63,980 16 Minneapolis-St. Paul-Bloomington 2 1.2% 58,021 739 91,107 65,789 17 San Diego-Carlsbad-San Marcos 20 2.7% 116,292 1,492 68,495 61,233 18 St. Louis 16 2.0% 82,086 1,178 65,558 53,271 19 Tampa-St. Petersburg-Clearwater 9 1.9% 86,936 1,268 59,032 47,368 20 Baltimore-Towson 32 2.9% 80,777 1,118 76,605 63,921 27 Orlando-Kissimmee 11 1.7% 78,497 1,053 50,137 52,704

*MSA rankings excluding Detroit (#12) (Kimco % ABR 0.4%) and including Orlando (#27) (Kimco % ABR 1.7%). Demographics are weighted by Kimco pro rata ABR

PR Excludes 2 properties not in occupancy

Source: Sites USA, Updates of 2000 Census Data by AGS Puerto Rico 27 U.S. STRATEGIC ASSETS – DEMOGRAPHIC PROFILE

Key Assets Enjoy Favorable Demographic Attributes…

Demographic Profile Within A Three-Mile Radius

Median HH Market Data Total Household KIM Above Income at MSA Level Population Density MSA MHHI (MHHI) MHHI

Strategic Asset Portfolio 107,548 1,394 $68,779 $57,230 +20%

Top 20 MSA Total 130,803 1,646 $73,611 $60,703 +21%

Key Assets Top 10 MSA 144,976 1,830 $76,156 $60,828 +25% 66% of ABR Next 10 MSA 105,089 1,313 $68,994 $60,477 +14% Remaining Assets 34% of ABR Remaining Core Total 65,952 942 $60,136 $51,018 +18%

…And Kimco’s Assets Are Well Situated to Capture Higher Disposable Income Within MSAs Across Portfolio

28 U.S. STRATEGIC ASSETS – FINANCIAL PROFILE

Key Assets (Top 20 MSAs + Puerto Rico) Characterized By Higher Rents, Occupancy and Future Rate Increase Potential

Avg. Mark-to-Market Forecasted # of Sites ABR / Sq. Ft. Occupancy For Leases Exp. CAGR Through Next 5 Yrs. 2014 ABR

Strategic Asset Portfolio TOTAL 674 $11.94 93.9% +3% 3.5%

Key Assets Total 413 $13.26 94.5% +6% 4.0% Key Assets 66% of ABR Top 10 MSA 270 $13.66 94.9% +11% 3.5% Next 10 MSA 137 $12.25 93.4% (4%) 5.0% Remaining Assets Puerto Rico 6 $15.45 96.6% +7% 1.5% 34% of ABR

Remaining Core Total 261 $10.02 93.2% (5%) 3.0%

29 VALUE CAPTURE THROUGH RE-LEASING OF BELOW MARKET SPACES

Incremental Location Tenant Activity Cost Timing NOI

Multiple Opportunities In Short-term Springfield S.C. | Springfield, PA Value City  Giant Food $7.5M $0.7M 2011 Vista Balboa S.C. | San Diego, CA Albertsons  24 Hr. Fitness $0.4M $0.5M Bridgehampton Commons | Bridgehampton, NY Staples $1.2M $0.4M Manhasset S.C. | Manhasset, NY Filene's Renewal $1.1M $0.4M Value City  BJ's Elsmere Square | Elsmere, DE $4.2M $0.6M $7.8M Rockingham S.C. | Salem, NH Kohl's Renewal $1.0M $0.6M 2012 Richmond S.C. | Staten Island, NY Kmart  Target $1.5M $2.5M Staten Island Plaza | Staten Island, NY New Kohl's $2.1M $1.0M 2013 Westlake S.C. | Daly City, CA Burlington Coat $1.7M $0.6M North Brunswick Plaza | North Brunswick, NJ Burlington Coat - $0.1M

And Additional Longer-term Opportunities Hylan Plaza, Staten Island, NY Kmart Expiration - $2.5M 2018 Various Florida 5 Kmart Locations - $2.5M -

30 EXAMPLES OF REDEVELOPMENT OPPORTUNITIES

Recent Current/Ongoing On Deck Planning

Renaissance Center Altamonte Springs, FL

St. Andrews Center Miller Road Shopping Center Charleston, SC Miami, FL Westlake Shopping Center Daly City, CA

New Drop Staten Island, NY Springfield Shopping Center Forest Ave. Shopping Center Springfield, PA Staten Island, NY

Wexford Plaza Pittsburgh, PA

Merchant’s Walk Lakeland, FL

31 INTERNAL OPPORTUNITIES INCREASING PORTFOLIO VALUE

Increasing Portfolio Redevelopment Pad/Outlot Development Value

Incremental Incremental Site Investment Timing Type / # Investment Timing NOI NOI

Merchant's Walk $3.9M $0.4M 2011 Pharmacy -- $0.4M 2011 – 2012 Westlake $5.0M $1.0M 2012 Gas Pads $0.1M $0.3M 2011 – 2013

Miller Road $2.0M $0.3M 2011 - 2012 Banks $1.0M $1.2M 2012 – 2013 Forest Ave. $7.6M $0.8M 2013 Restaurant Use $0.3M $0.9M 2011 – 2014

Future Redevelopment Other $4.0M $1.2M 2011 – 2015 Renaissance Center  Partial demolition and upgrade, attracting Whole Foods and other national tenants Pentagon Center  460k sq. ft. office / 38k sq. ft. retail expansion

32 TENANT RETENTION KEY TO MAINTAINING STABILITY OF CENTER

Know when to hold ‘em and know when to roll ‘em Option Exercise/Renewals

Asset Evaluation 1400 8 • Market Profile | Lease Profile | Lease Terms | Future 1,211 1,188 Potential 1200 7

1,036 Tenant Evaluation 6 1000 5.2 • Credit Quality | Tenant Sales | Tenant Mix 897 4.8 5

800 GLA (M) Structure leasing organization to be accessible to tenant 3.6 4 Focus on day-to-day property management 600 3.2 3 Know tenant’s business – locally and globally

• Sales volume of Renewals Number 400 2 • Occupancy cost

Prioritize and incentivize leasing renewals 200 1

0 0 2007 2008 2009 2010 Renewal Count GLA (M)

Note: 621 renewals totaling 2.8M sq. ft. were signed as of 2Q’11 YTD

33 WATCH LIST TENANT EXPOSURE IS CONTAINED AND MANAGEABLE…

# of % of KIM ABR KIM ABR Mark-to-Market Impact To Locations Leased GLA (000) % (000) KIM ABR

REIT 13 0.08% $1,137 0.12% ($171) (0.02%) JV 12 0.03% $447 0.05% ($2) (0.00%)

REIT 1 0.04% $425 0.04% $122 0.01% JV 9 0.11% $1,822 0.19% ($134) (0.01%)

REIT 8 0.51% $5,555 0.58% $192 0.02% JV 7 0.15% $1,749 0.18% $207 0.02%

REIT 4 0.12% $1,635 0.17% ($165) (0.02%) JV 17 0.18% $2,146 0.22% ($10) (0.00%)

Total Exposure* 71 1.21% $14,917 1.55% $38 (0.00%)

*As of 6/30/2011 …And Watch List Continues To Contract

34 GROWING NET OPERATING INCOME (NOI) IN THE EXISTING PORTFOLIO

$950M

$125M $800M $35M $10M $85M $70M Latin America $10M

$80M Canada

$5M $1.0B $740M

Strategic Assets $650M [U.S. & P.R.] $40M $25M $5M $10M $10M

Dilution Organic Growth/ Lease-up Development Liquidity In 12/31/10 Active 2014E BASE From Asset Contractual to 94.5% Lease-up Below-market Redevelopment Sales Rent Steps Leases

Non-Strategic *$70M *($10M) *$60M

*Assumes proceeds from dispositions reinvested into new assets

35 Strawberry Hill CANADA PORTFOLIO OVERVIEW British Columbia, Canada

36 CANADA MARKET OVERVIEW

2011 Economic Outlook Retailer Trends

• Recently announced expansion plans GDP Projected growth of 2.8% in 2011 include:

Inflation Forecast inflation rate of 3.0% • New entrants continuing to explore Canada strategy include:

Interest Rates Bank of Canada overnight current rate of 1.0%

Unemployment Currently 7.4%; forecast to decline to 7.3% by YE11 • Target acquires 220 Zeller leases with the plan to convert many to Target stores by 2013. June 30, 2011 - $1.02 Exchange Rate April 30, 2011 - $1.05

37 CANADA PORTFOLIO OVERVIEW Canada Remains Key Element of International Portfolio

Portfolio Snapshot

• Entered Canadian market via JV partnership with RioCan in 2001

• Stable portfolio of 62 shopping centers  11.7M / 6.0M sq. ft. (gross/pro-rata)  ABR per sq. ft. of $15.57 (pro-rata) • Other portfolio metrics  97.0% Occupancy (pro-rata)  8.3% SS NOI for 2Q11  Total leasing spread trailing 12 months 9.4%; new leases 5.1% and renewals/ options 10.7%

Canada Tenant Exposure

5.0% 4.3% *Kimco has 15 Zellers with 9 being converted 3.9% 4.0% 3.7% to Target and one Super Wal-Mart 3.1% 2.9% 2.8% 3.0% 2.3% 2.0% 1.9% 1.8% 1.8% 1.8% 2.0% 1.7% 1.7% 1.6%

1.0%

0.0%

Approximately 37% of Canadian Annual Base Rent is Diversified Across Top 15 Tenants High Quality Domestic and International Retailer Relationships

38 Plaza San Pedro MEXICO PORTFOLIO OVERVIEW Mexicali, Mexico

39 MEXICO MARKET OVERVIEW

2011 Economic Outlook Market Trends

Economic growth GDP After rebounding by 5.5% in 2010, forecast to grow at 4.6% in 2011 • US recovery, supports firmer growth in Mexico. Domestic demand, still recovering.

Inflation Policy • Disciplined fiscal management and Inflation Forecast to be slightly above 4.0% in 2011 currency appreciation will contain prices in the near term.

Bank Lending • Financing remains selective. Greater Interest Rates Benchmark lending rate forecast to remain at 4.5% well into 2011 investment flexibility for Private Pension Funds, under new laws.

Job creation • Still below pre-crisis levels, but Unemployment Forecast at 5.4% in 2011; 600K to 700k new jobs predicted expected to grow as the US imports increase.

Peso vs. Dollar • Monetary stimulus in the US, global Exchange Rate Forecast to remain between $11.50 to $12.50 range recovery and low interest rates, support the peso in the short term.

40 MEXICO INVESTMENT DRIVERS

Favorable Limited Supply Growing Consumption Opportunistic Returns Demographics Strong Demand

• 12th largest global • Rapidly growing • Mexico under retailed • Consumer credit, • Attractive returns economy; projected consumer market  ~2.5 sq. ft. per healthy banking compared to U.S; to be 5th largest by driven by capita vs. U.S. 23.0 sector will continue to Targeting 12 – 14% 2050 demographics, sq. ft. grow purchasing stabilized NOI yield stable economy, power on cost in Mexico • 106M people access to consumer • ~800 shopping expected to grow credit centers; heavily • Consumer spending • All leases include 1.2% annually; concentrated in large per capita expected annual cost of living median age of 26 • Major retailers urban areas (vs. 48k to increase by 48% adjustments continue aggressive in U.S.) by 2014 • Expanding middle expansion plans  • Percentage rent class Wal-Mart: 300 units • 7th largest American clauses in many in 2011 Express user in the leases provide world additional upside

Tijuana

Monterrey Cancun Guadalajara Mexico City

41 MEXICO INVESTMENT HISTORY

Sign 20th Wal-Mart lease  KIM now largest Wal-Mart Obtain $50M Acquire 1st landlord loan from two Grocery MetLife on Commence anchored single development on 5 shopping property grocery anchored centers  projects (Monterrey 1st Best Buy & Saltillo) lease signed Form 50/50 JV Financed 4 Construction separate substantially w/ GE Real Sign 1st properties with completed for Estate  Cinepolis Metlife and all major select portfolio lease of high quality Banamex for over development properties US$60M projects

20022003 2004 2005 2006 2007 2008 2009 2010

42 MEXICO PORTFOLIO SNAPSHOT

Overview Shopping Center Property Snapshot

Operating & • $853M invested to date Stabilized 37 • $746M  55 shopping centers

• $11M  Mexico Land Fund Development 4 • $99M  American Industries

• Over 96% of retail GLA is located in centers with grocery anchor Pending Stabilization 14 • Solid partnerships with 6 leading local developers

• Percentage rent clauses in many leases provide 55 Shopping Centers Totaling 12.2M sq. ft. additional upside • Portfolio Occupancy • Operating & Stabilized: 88.3% (pro-rata) • Pending Stabilization: 74% (pro-rata) • In Development: 68% (pro-rata)

43 MEXICO TENANT OVERVIEW

Top Tenant ABR Contribution ABR Contribution By Category Retailer Trends

2.1M sq. ft. Other Anchor • Existing retailers look (10.1%) (e.g. Home to strengthen their Depot) 3% position: Department Pads Store 5% 0.7M sq. ft. 1% (6.5%) Food Court/ Small Shop Kiosk 35% 5%

0.7M sq. ft. Theatre • Looking to become 10% (5.6%) an active brand in Mexico next 2 Qtrs: Grocery 9% 0.5M sq. ft. (3.4%)

0.6M sq. ft. Walmart 10% • Retailers actively (2.1%) Junior Anchor expanding around the 22% country:

0.3M sq. ft. (1.6%)

0.3M sq. ft. All leases have cost of living increases (1.3%)

44 MEXICO GROWTH PROFILE

$700 $90

$75-$80 $599 $80 $600 $523 $70 $500 $60

$400 $360 $50 $330 $41 $40 $300 NOI ($M) $32 $25 $192 $30 $200 Under Development ($M) Under Development $166 $16 $20 $100 $7 $10 $4 $- $- $- 2005 2006 2007 2008 2009 2010 2014E Real Estate Development NOI Growth In $USD

Stabilized Yield (2014) 11% - 12%

45 Cherrydale Point INVESTMENT MANAGEMENT PLATFORM Greenville, South Carolina

46 STRATEGY AND OVERVIEW

• Building on 50 years retail • Provides access to a low • Leveraging experience to real estate experience, cost of capital: build and expand upon formed Investment mutually advantageous Management business in • Allows us to remain relationships with large, 1999 competitive in acquiring sophisticated and high- high-quality retail quality domestic and • 285 properties totaling properties foreign partners 43.8M sq. ft. Creativity Experience • Enhances ROE through • 14 different co- • $10B in assets under long-term, recurring asset investment programs

management and property management Strong Relationships fees • 24 institutional partners

Investment Management Business Leverages Core Competencies to Create Long-Term Shareholder Value

47 SOURCES OF CAPITAL

Pros Cons

Common Equity • Flexible source of capital • Expensive to raise

• Limited practical use  priority Debt (Bonds & • Cheap source of capital in capital structure and Mortgages) bondholder protections

• Attractive source of capital • “Less expensive” than common Equity From Limited Willingness on behalf of equity but results in shared Partners investors to pay for ownership management expertise

48 INCOME FEE STRUCTURES

Recurring Non-recurring

Asset Acquisition (50 – 100 bps) 50 – 100 bps KIM’s ROIC Hurdles  9% - 20% Property Mgmt. Disposition Competitive Advantage: 4% – 5% 25 – 50 bps

In-house Operating Platform Lease Commission Construction Mgmt. Potential Var. ~ $3/sq. ft. 2.5% – 5.0% Upside *  15% - 25%

Finance Sourcing (25 – 50 bps)

* Varies based on Promoted IRR

49 EXAMPLE: ECONOMIC RETURN OF INVESTMENT MANAGEMENT PROGRAM

Assumption A  Consolidated Purchase Assumption B  Joint Venture Purchase

Price: $75M Price: $75M NOI Yield: 7.25% NOI Yield: 7.25% Creative Approach

Finance 55% with mortgage debt @ 5.0% amortizing $100M of Leverage (Net Debt/EBITDA) 5.5x over 30 yrs. (Debt Service Coverage: 2.0x) Partner Capital 50/50 equity split with partner + standard Raised management fees = $2M – $3M Savings

ROE = 8.1% ROE = 10.2%

50 GOVERNANCE STRUCTURE

Partnership Structure Exit Mechanisms Risk Management

• Partners share in major • Buy / sell provision allows • No puts to Kimco decisions either partner to initiate an • Buying, selling and offer • No Kimco guarantees of debt financing for joint ventures • Mutual agreement to sell • Approving annual • No preferred returns to business • Some fund vehicles may have partners plans/deviations and stated life  third party or major leases negotiated sale at end of life • Non-recourse, non-cross collateralized property-specific • Capital calls are funded by debt partners on a pro rata basis • Debt service coverage of 1.5x or better

51 TYPICAL INVESTOR PROFILE

Core “A” Property Buyers Income Buyers Opportunistic Buyers

• Prefer major metropolitan • Willing to buy outside top • Willing to take on risk to get markets MSAs where they can earn higher returns better yield on investment • Re-tenanting strategy • Tenant credit, type very important • Tenancy important but may be • Secondary markets willing to accept rollover or • Vacant space for free • Prefer grocery-anchored credit risk centers • Will acquire subject to higher • Prefer to use modest leverage leverage • Conservative long-term to enhance yield holders; leverage is not critical

52 INVESTMENT MANAGEMENT PROGRAM HISTORY

CPP Acquire 5 former PL Retail properties

Mexico Retail Land & Development Fund Kimco Income BIG Shopping Centers Fund II (KIF II) Acquire 20 Former PL Kimco Acquire Well Kimco Retail and Prudential Income UBS Wealth Located Land Income Fund Commingled Properties REIT (KIR) Management Prudential Parcels for (KIF I) format with 14 Kimco Retail JV JVs Future Retail Kimsouth Commingled properties 1st Opportunity Fund with 12 Development Institutional Portfolio JV with Lazard; Properties Acquire High Acquire Pan Investor (KROP) Quality Pacific Retail Acquisition and Cisterra Fund Shopping Properties Liquidation PL Retail Acquire 4 Former JV with GE Centers JV / DRA; Prudential Properties Real Estate Acquire Price Legacy REIT

19992001 2002 2004 2005 20062007 2008 2010

Acquired an additional center earlier in 2011

53 A GROWING BUSINESS, WHICH WILL CONTINUE TO GENERATE SIGNIFICANT RETURNS

Assets Under Management ($B)

$16.0 $14.0 $14.0 $14.0 $12.5 Favorable Trends Emerging $12.0 $10.5 $10.0 $10.0 • Institutional investors confidence in all $8.0 $7.0 investment classes has improved on a $5.5 global basis $6.0 $3.5 $4.0 $2.6 • According to recent a survey of foreign $1.8 $2.0 $0.9 $1.3 institutional investors, the U.S. real $0.0 estate market offers a stronger 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 investment opportunity for investors’ money then it has in the last 10 years (Source: AFIRE; Jan 2011) Management Fee Income Growth • Improved investor confidence amid 60 $55 $55 improved results has led to investors $48 seeking partnership with Kimco 50 $42 $41 $40 • Canada Pension Plan 40 $31 • BIG Shopping Centers 30 $25 • Cisterra 20 $15 $8 $12 • Sun Life 10 $5 $6 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2014E Recurring Non-Recurring

54 JOINT VENTURE INVESTMENT PROGRAMS

KIM Partner Number of Properties Total GLA Sq. Ft (M) Own % . Occupancy

15% Prudential Inv. 63 Programs 10.9 90.9%

45% Kimco Income REIT (KIR) 59 12.6 95.6%

15 – 20% UBS Programs 43 6.2 93.0%

33 – 50% BIG 23 3.8 88.6%

15% Kimco Income Fund I (KIF) 12 1.5 94.5%

15% SEB Immobilien 11 1.5 95.9%

55% Canada Pension Plan (CPP) 6 2.4 98.5%

10 – 30% Other Institutional Programs 68 4.9 94.4%

Total: 285 Total: 43.8M Total: 93.5%

55 SUMMARY

Leveraging Kimco’s Platform and Infrastructure to…

• Third party equity investment diversifies risk while Airport Plaza providing ability to acquire interests in high quality Farmingdale, NY properties

• Fee revenue boosts shareholder ROI to an attractive level

• Fee stream is long-term, recurring and contractual

• Scalable platform manages almost 1,000 shopping centers

• Offers institutional investors direct access to decades of retail property experience

…Create Value for Partners and Shareholders Alike

56 FINANCIAL HIGHLIGHTS & STRATEGY Ridgewood Shopping Center Ridgewood, NJ

57 EBITDA COMPOSITION

Retail Shopping Center Flows Grow from 78% in 2008 to a Projected 94% in 2014

Where We Were  2008 Where We Were  2010 Where We Are Going  2014

Non-retail Inv. 1% Non-retail Inv. 17% Non-retail Inv. 7% Mgmt. Fee Income 5% Mgmt. Fee Income 4% Mgmt. Fee Income 5% Canada 6% Canada 6% Canada 7% Latin America 10% 78% Latin America 4% 89% Latin America 5% 94% U.S. Centers 78% U.S. Centers 68% U.S. Centers 77%

58 KIMCO EARNINGS DRIVERS

• Organic growth of 2% – 4% per year • Improve Operating CF U.S. through lease-up and Shopping Center Shopping below-market rent Dispositions Center opportunities Focused • Redevelop select centers to improve NOI Identified ~ $500M – Growth Shopping Center $700M of assets Strategy Acquisitions through next 3 – 4 years

Lease-up Mexico _ centers and complete += Latin = development and + $250M+ per year America lease-up in South through consolidated Growing America Non-retail Dispositions and JV Recurring Flows From Shopping Moving ahead with Center plan to monetize Portfolio Continue strategy to over $800M of repay higher-rate assets Financing secured debt

59 RECURRING RETAIL EARNINGS GROWTH

$1,200 $915 $1,030 $872 to $995 $915 - $975 $1,000 to $975 $904$904 $885 - $910$902 $815 $840 $800 $667

$600 $910 $ in Millions $845 - - $960 $400 $786 $769 $814 $716 $862 $653 $541 $200

$- 2005 2006 2007 2008 2009 2010 2011* 2014* Recurring Retail Recurring Non-Retail Non-Recurring

• Consistently growing recurring retail earnings – Targeted at 3.0% to 4.0% in 2011

• Over 90% of earnings contribution will be from recurring retail flows in 2011

• Recurring retail earnings have a CAGR of over 8% from 2005 to 2010

* Forecasted

60 NON-RETAIL ASSETS

Non-retail Plan Book Value of Non-retail Assets

*Monetized approx. $400M since 2008 As of Monetize ~$600M of remaining assets by the following: 06/30/11 1.20

1.05

Urban portfolio assets being marketed for sale $222M 1.00  Sales in New York and Boston 0.88 0.80 Working on exit plan with partner on Westmont portfolio 0.80 0.61* $112M  Marketing InTown Suites portfolio  Certain Canadian assets have been listed for sale • Sold one Canadian asset in Q1’11 0.60 $ Billions Evaluating positions in marketable securities for disposal $44M 0.40  Sold remaining portion of Valad notes and repaid WhiteRock bond in April 2011 $117M Continued sales of non-retail preferred equities 0.20 0.07

0.00 *As of 06/30/11 2008 2009 2010 2014E

61 IMPROVING BALANCE SHEET STRENGTH

12/31/08 12/31/09 12/31/10 6/30/11

• Solid improvement since Jan. 2009 Gross Assets $10.6B $11.5B $11.4B $11.3B

• Focused on balance sheet strength Investment Grade Ratings: S&P BBB+ BBB+ BBB+ BBB+ • Ensures ready access to various capital markets Moody’s Baa1 Baa1 Baa1 Baa1

• Consolidated market capitalization of Fitch -- -- BBB+ BBB+ $12.6B as of 6/30/11: Unencumbered Assets $8.7B $8.7B $9.4B $9.4B

2% Debt / Gross Assets 43.2% 38.5% 35.6% 35.2% Debt/ Total Market Cap (Book) 0.53 : 1 0.46 : 1 0.44 : 1 0.44 : 1 6% Non-controlling 9% Ownership Debt / Equity (Book) 1.12 : 1 0.87 : 1 0.79 : 1 0.78 : 1 Interests Preferred Stock Net Debt /Recurring EBITDA 8.3x 7.4x 6.3x 6.0x 23% Debt Service Coverage 3.1x 2.8x 3.5x 3.2x Mortgage Debt Fixed Charge Coverage 2.6x 2.4x 2.8x 2.5x FFO Payout Ratio Before 67.5% 75.2% 50.9% 58.1% Unsecured Debt Impairment

60% Market Equity Shares

62 WELL STAGGERED DEBT MATURITY PROFILE Consolidated Debt

700 16.6%

600 14.1%

500 12.0% 11.8% 12.0% 10.3% 10.5% 400 8.1% 300 Debt in Millions 200 2.3% 100 2.0% 0.2% 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Thereafter Secured Unsecured

Joint Venture Debt

2500

25.4% 2000

1500 16.1% 13.7% 1000 11.7% 9.2%

Debt in Millions 8.2% 7.0% 500 4.6% 1.7% 1.0% 1.3% 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Thereafter

Kimco Share Partner Share

Note: Percentages represent what is maturing as a % of the total debt stack. 63 CAPITAL AND BALANCE SHEET STRATEGY

• Growing free cash flow (after common dividends) for investment and debt reduction

• Improve balance sheet metrics • Net Debt/Recurring EBITDA targeted at 6.0x by 2012 • Stable fixed charge coverage

• Strong liquidity position – $1.7B available of unsecured lines of credit

• Large unencumbered asset pool – Repay existing secured debt of $600M through 2014

• Maintain investment grade ratings

64 2010/2011 GUIDANCE

FFO ($ in millions) FFO $/ Share 2009 20102011F 2009 2010 2011F Recurring: Retail $ 761 $ 814 $ 845 — $ 862 $ 2.16 $ 2.00 $ 2.07 —$ 2.11 Non-Retail 52 42 33 — 41 0.15 0.10 0.08 — 0.10 Corporate Financing ( 257) ( 282) ( 282)— ( 286) ( 0.73) ( 0.69) ( 0.69)— ( 0.70) G&A ( 110) ( 109) ( 115)— ( 119) ( 0.31) ( 0.27) ( 0.28)— ( 0.29) Other ( 2) - ( 4)— ( 6) ( 0.01) - ( 0.01)— ( 0.01) Total Recurring $ 444 $ 465 $ 477 — $ 492 $ 1.26 $ 1.14 $ 1.17 —$ 1.21

Non-Recurring * 22 58 7 — 7 0.07 0.15 0.02 — 0.02 $ 466 $ 523 $ 484 — $ 499 $ 1.33 $ 1.29 $ 1.19 —$ 1.23

Debt Extinguishment - ( 11) - — - - ( 0.03) - — - FFO Before Impairments $ 466 $ 512 $ 484 — $ 499 $ 1.33 $ 1.26 $ 1.19 —$ 1.23

Impairments ( 179) ( 52) ( 15)— ( 15) ( 0.51) ( 0.13) ( 0.04)— ( 0.04) FFO (1) (2) $ 287 $ 460 $ 469 — $ 484 $ 0.82 $ 1.13 $ 1.15 —$ 1.19

(1) Weighted average shares were 351.6M in 2009 and 407.7M in 2010 (2) Reflects the potential impact if certain units were converted to common stock at the beginning of the period. * Includes normal course of business events such as outparcel sales, acquisition fees and other transactional events

65 FINANCIAL STRATEGY SUMMARY

• Grow EBITDA & FFO/Share From Recurring Sustainable Shopping Center Flows

• Increase Dividend At A Consistent, Sustainable Rate

• Continue Balance Sheet Strengthening While Maintaining A Strong Liquidity Position

• Monetize Non-retail and Non-strategic Assets

66 Suburban Square SUMMARY & CLOSE Ardmore, Pennsylvania

67 THE KIMCO DIFFERENCE

Largest owner/operator/investment U.S. shopping center portfolio growth Strong balance sheet and related manager of U.S. shopping centers from occupancy increases, credit ratings with excellent with 50 years of history, retailer recapture/re-tenanting of below liquidity, access to capital and relationships, leasing expertise market leases, and redevelopment banking relationships and redevelopment experience programs

International platform with Retail operating partner of choice for Proven opportunistic investor in incremental earnings from strong large, blue chip domestic and retail real estate owned by U.S. Canadian market and lease-up of international pension funds and retailers through structured sales Mexico development portfolio insurance companies leaseback and purchase transactions

68