Earnings Release & Supplemental Report

10-Q Filing

Discussion + Reconciliation of Non-GAAP Financial Measures

• EPS, FFO and FFO as adjusted per share, were $0.04, $0.35 and $0.48, respectively
• Achieved year-over-year three- and six-month SPP Cash NOI growth of 2.1% and 3.1%, respectively
• Completed or under contract on $75 million of acquisitions and generated $399 million of proceeds from dispositions and loan repayments through August 1st
• Announced $116 million of new development and redevelopment projects
• Repurchased $500 million of our 5.375% senior notes due 2021 and remain on-track to meeting our previously disclosed leverage targets
• Entered into a definitive agreement to sell our Tandem debt investment for $197 million
• Enhanced corporate governance by opting out of the Maryland Unsolicited Takeovers Act (MUTA) and adopting majority standard voting 
• Announced Scott Brinker will join as EVP Chief Investment Officer, effective January 2018    
• Reaffirmed full-year 2017 FFO as adjusted and SPP Cash NOI guidance ranges