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Investor Presentation First Quarter 2015 SAFE HARBOR

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Investor Presentation First Quarter 2015 SAFE HARBOR Investor Presentation First Quarter 2015 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 within 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. Copies of each filing may be obtained from the Company or the SEC. Crossroads Plaza | Cary, NC 2 COMPANY SNAPSHOT Owner and Operator of Largest Publicly Traded Portfolio of Neighborhood & Community Shopping Centers in North America History Started in 1958 | IPO that initiated Modern REIT Era NYSE listed (1991) | S&P 500 Index (2006) Dividend $0.96 annually, ~4.0% yield (based on 06/01/15 closing price) Retail Portfolio 745 properties totaling 108M sf Footprint 39 States, Puerto Rico, Canada, Mexico and Chile Occupancy(1) Current: 95.7% | All-time high: 96.3% (12/31/07) Credit Rating Investment Grade: BBB+ Baa1 BBB+ S&P Moody’s Fitch Information as of 03/31/15 (1) Pro rata Focused on Total Shareholder Return 3 SOLID TOTAL SHAREHOLDER RETURN 1 Year 5 Year Since IPO 03/31/14 –03/31/15 03/31/10 – 03/31/15 11/29/91 – 03/31/15 27.7% 13.7% 15.9% 14.5% 10.7% 13.2% 9.8% 12.7% 10.6% KIM S&P 500 DJIA KIM S&P 500 DJIA KIM S&P 500 DJIA Note: Return includes dividends & capital appreciation 4 INVESTMENT HIGHLIGHTS Generating Consistent Growth Through Solid Execution of Strategy • Leveraging 50+ years of management experience and deep local expertise • Stability and scale; national operating platform comprising geographic and tenant diversification • Industry-leading relationships with tenants and investment partners • Focused retail strategy with consistent, safe cash flow growth • Necessity versus specialty: grocery/food component-anchored retail • IncomePLUS model; long track record of opportunistic investments • Strong balance sheet; access to low-cost capital • Committed to growing dividends Committed to Enhancing Portfolio and Increasing NAV 5 THE CASE FOR RETAIL REAL ESTATE: TODAY’S MARKET Strip Center Supply Growth (GLA)(1) 12% • More than 78,000 store openings scheduled over the next two years(3) 10% • 8% Discounters and off-price concepts are increasing their footprint in terms of 6% square footage and store count 4% (4) Retail Sales Growth 2% 1,200 0% 1,100 '07 '09 '81 '83 '85 '87 '89 '91 '93 '95 '97 '99 '01 '03 '05 '11 '13 '15E '17E 1,000 • Retail supply remains historically low • Consumer confidence trending higher 900 In Billions 800 • U.S. retail market occupancy increased with net absorption totaling 15.4M sf 700 during 1Q15(2) 600 (1) GreenStreet Advisors (2) CoStar Group, “The CoStar Retail Report: National Retail Market” First Quarter 2015 (3) RBC Capital Markets, “Retail REITs: April 2015 National Retailer Demand Monthly (NRDM)” April 2015 (4) Retail Indicators Branch, U.S. Census Bureau 6 KIMCO STRATEGY Kimco is Committed to Total Shareholder Return Plus by: Transforming Simplifying Our Portfolio = Our Business Great Assets in Model Great Locations Redeveloping & Creating Value Via Leveraging Opportunistic Operational Retail Activities; Excellence THE “PLUS” Simplification, Growth and Value Creation 7 KIMCO STRATEGY • Acquiring high quality assets ‒ Concentrate on key territories where Kimco has scale, physical presence, long standing relationships and properties which possess strong demographics Transforming ‒ Focus on larger properties with potential for additional Our Portfolio = redevelopment, entitlements, and value creation Great Assets in ‒ Acquired interests in 41 shopping centers and four parcels Great Locations adjacent to existing Tier 1 shopping centers for a gross purchase price of $1.5B in 1Q15 • Exiting non-core markets and lower quality/“at risk” assets ‒ Sold six U.S. shopping centers for gross price of $54.1M in 1Q15 ‒ Sold 50% ownership interest in three Canadian shopping centers to RioCan for a gross price of $190.7M Aggressive Efforts to Further Extract Value 8 KIMCO STRATEGY • Reducing JV platform (number of partners and properties) ‒ Buying partner interests accretively ‒ Purchased the remaining 66.7% interest in the 39- property Kimstone portfolio for $925M in 1Q15 Simplifying OurContinue Business to • Monetizing Latin America assets Model ‒ Substantially completed exit from Latin America in Simplify the 2014 Business • Maintaining a strong balance sheet with an investment grade credit rating Deliberate Approach to Becoming a More Focused Kimco 9 KIMCO STRATEGY: GROW NAV & EARNINGS • Redevelopment and value creation pipeline of $1.1B • Evaluate the highest and best use for a property to drive value creation • Continue to increase occupancy Redeveloping & Leveraging • Small shop lease-up Operational • Embedded organic NOI growth (rent steps, below Excellence market leases) • Continue to replace higher rate maturing debt • Strength of regional team • Leverage technology and sustainability to reduce costs Dependable Value Creation through Relentless Execution 10 KIMCO STRATEGY • 50 years of relationships with retailers and experience when opportunities arise • Work directly with retailers on: ‒ Sale leasebacks ‒ Bankruptcy expertise Creating Value Via ‒ Repositioning underperforming retail locations Opportunistic ‒ Retail real estate financing Retail Activities; THE “PLUS” • In 2015, the company invested $85M to facilitate Albertson’s acquisition of Safeway Inc. Kimco owns 9.80% ownership interest in the combined company. • Kimco recently sold 6.4M shares of SUPERVALU INC. (NYSE:SVU) common stock resulting in a gain of $32.4M. The company had acquired these shares as a member of the consortium that had acquired five grocery banners from SVU in 2013. The “PLUS” That Further Enhances Returns 11 Newtown S.C. | Danbury, CT Shopping Center Portfolio 12 GEOGRAPHIC DIVERSIFICATION CANADA UNITED STATES # of Centers 64 # of Centers 677 GLA 12.2M GLA 95.7 M $ Per Sq. Ft. 13.12 $ Per Sq. Ft. 14.00 Occupancy 95.5% Occupancy 95.7% Top Tenants TJX Cos. Top Tenants TJX Cos. Loblaw Companies Home Depot Canadian Tire Royal Ahold ABR Breakdown by MSA ABR Breakdown by Geography MSA 6-10 15.1% Florida Maryland Puerto New York 8.2% 6.0% Rico 3.1% MSA 1-5 8.7% 22.2% MSA 11-30 27.7% California 14.8% Canada 7.9% Puerto Canada All Other 7.9% All Other Rico 3.1% 51.3% 24.0% Note: Stats for shopping centers as of 03/31/15. Amounts are shown on pro-rata basis except for GLA which is shown on gross basis. 13 EXPERIENCED, DEEP OPERATIONAL TEAM Kelly Smith, Managing Dir. Josh Weinkranz, President Canada Northeast Region Industry Experience: 27 yrs Industry Experience: 18 yrs 64 Properties 112 Properties GLA: 12.2M sq. ft. GLA: 13.0M sq. ft. Armand Vasquez, President Tom Simmons, President Western Region Mid-Atlantic Region Industry Experience: 24 yrs Industry Experience: 23 yrs 164 Properties 144 Properties GLA: 28.0M sq. ft. GLA: 15.2M sq. ft. Rob Nadler, President Paul Puma, President Central Region Southern Region Industry Experience: 34 yrs Industry Experience: 31 yrs 131 Properties 126 Properties GLA: 19.5M sq. ft. GLA: 20.0M sq. ft. • Local market expertise • Strong relationship network ‒ Consumer preferences and trends ‒ Knowledge of buyers/sellers ‒ Market-specific risk assessment ‒ Direct-market transaction opportunities ‒ Acquisitions and redevelopment opportunities ‒ Smoother approval process with local officials Note: Stats are shown for shopping center properties on gross basis as of 03/31/15. Focus Nationally, Operate Locally 14 STABILITY THROUGH DIVERSIFICATION Top Ten Tenants (ABR) By Geography (ABR) Gross Pro-rata 3.3% • ~11,400 leases with Properties Sq. Ft (M) ABR% 5,600 tenants 2.4% California 98 17.2 14.8% • Well staggered lease New York 59 6.2 8.7% 2.0% maturity with limited Florida 67 8.5 8.2% rollover in any given 1.9% year; averages ~8% Maryland 39 4.4 6.0% 1.8% over next 10 years Texas 47 7.3 6.0% Pennsylvania 37 4.9 4.8% 1.7% • 8 of the top 10 tenants are investment grade All Other U.S. 323 45.0 39.9% based on Moody’s 1.6% Puerto Rico 7 2.2 3.1% credit ratings 91.5% 1.4% Subtotal U.S. 677 95.7 Latin America 4 0.4 0.6% 1.4% Canada 64 12.2 7.9% 1.3% Total 745 108.3 100% Note: Stats for shopping center properties as of 03/31/15. Solid Tenant Mix with Quality Credit Strengthened by National Exposure 15 Union Crescent Plaza | Union, NJ U.S. Shopping Center Portfolio 16 U.S. KEY TERRITORIES: FOCUSED ON CORE MAJOR METROS Denver Minneapolis/ Metro (11) St. Paul Metro (4) Chicago Pittsburgh Metro (8) 1.0M SF/1.3% ABR 1.2M SF/1.2% ABR Metro (22) 1.0M SF/0.7% ABR Pacific Northwest (25) 2.6M SF/2.5% ABR 4.5M SF/3.2% ABR Portland to Seattle Northeast Metros (102) 11.4M SF/16.7% ABR Northern California (31) Boston & New York 5.1M SF/5.8% ABR Mid-Atlantic Metros (121) Napa, Sacramento, San 13.0M SF/15.7% ABR Francisco & San Jose Philadelphia, Baltimore, Trenton & Washington Southern California (57) Carolinas Metros (28) 10.8M SF/9.3% ABR 5.0M SF/5.3% ABR Los Angeles to San Diego Charleston, Durham & Raleigh Phoenix Metro (15) 3.2M SF/3.0% ABR Florida Metros (64) Texas Metros (37) 8.4M SF/9.0% ABR Miami, Fort Lauderdale, Palm 5.9M SF/5.2% ABR Atlanta Metro (8) Beach, Orlando & Tampa Austin, Dallas & Houston 1.5M SF/1.2% ABR St.
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