Investor Presentation June 2013

Investor PresentationJune 2013

8000 Sunset Strip Shopping CenterLos Angeles, CA

MOVING FORWARD.

Management’s intentions, hopes, beliefs, expectations or predictions for the future are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, which by their nature involve known and unknown risks and uncertainties.The Company’s actual results, performance or achievements could differ materially from those expressed or implied by such statements. Reference is made to the Company’s regulatory filings with the Securities and Exchange Commission for information or factors which may impact the Company’s performance.


Safe Harbor

1

Platform

People

Processes

Technology

Institutional Knowledge

Equals

COMPETITIVE ADVANTAGE.

River Oaks Shopping CenterHouston, TX

2

An Experienced Management Team With a Long-Term Perspective

Andrew M. AlexanderPresident and

Chief Executive Officer

Johnny HendrixExecutive Vice President/ Chief Operating Officer

Stephen C. RichterExecutive Vice President/

Chief Financial Officer• Founded in 1948

• IPO in 1985

• Quality portfolio that is geographically diversified

• Shopping centers located in high barrier-to-entry trade areas and high growth markets

• Experienced management team

• Supermarket and necessity-based retail anchored

• Consistently adhered to the same core principles throughout its 60+ year history

• Completed disposition of Industrial Portfolio in 2012

Average Tenure of Senior Management is Over 25 Years

Average Tenure of Finance > 20 yrAverage Tenure of Operations > 15 yr

Average Tenure of Development > 13 yr

About Weingarten Realty

3

Regional Office

Denver

Phoenix

Las Vegas

Sacramento

Los Angeles

Atlanta

Raleigh

Orlando

Houston FortLauderdale

Dallas

Decentralized Operating Platform Built On Local Expertise

Boots on the Ground• In-depth local

knowledge

• Real time contact with tenants

• Quick and nimble decisions

• Decisions made in the parking lot; not in the boardroom

WEST# of Associates 18% of NOI 17%GLA 4,300

MOUNTAIN# of Associates 28% of NOI 20%GLA 6,200

CENTRAL# of Associates 37% of NOI 31%GLA 10,300

SOUTHEAST# of Associates 22% of NOI 17%GLA 4,800

MID-ATLANTIC# of Associates 23% of NOI 17%GLA 5,300

4

‘06

‘06

‘01 ‘95‘03

‘96

‘87‘85

‘89

‘96

‘85

‘85

‘99

‘03

‘06‘01

‘04‘07

‘01

‘12

‘93

Note: GLA in thousands of square feet, with year of entry into state

Leader in Small Shop Leasing

• Global Meetings

• Business Consulting

• Long Standing Tenant Relationships

• Short Form Lease

32%10%

21%

10%

11%

8%8%

Service188 Leases

Other120 Leases

Full Service Restaurant

56 Leases

Quick Serve62 Leases

Apparel47 Leases

Health46 Leases

ME

X I C A N G R I LL

C

H I P O T LE

carter’scarter’s

®

Medical59 Leases

5Note: Number of leases for the 12 months ended 3/31/13

Small Shop Occupancy Has Outpaced Peers

Source: Company DisclosureNote: Comparable data not available for FRT or RPAI.6

77.0%

75.0%

79.0%

81.0%

83.0%

85.0%

87.0%

89.0%

91.0%

Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q1-13Q4-12

DDR - 85.9%

EQY - 80.8%

REG - 87.3%WRI - 88.2%

KIM - 84.0%

Unrivaled Tenant Diversity

2.3%

2.1%

1.3%

1.1%

1.1%

WRI Top 10 Tenants % of Total Revenue

Top 10 Tenants Comparison % of Total Revenue*

2.2%

1.5%

1.1%

1.1%

1.0%

5%

10%

15%

20%

25%

WEINGARTEN REALTY owns 30 properties anchored by Target where our retailers benefit from the great consumer draw of this upscale discounter.

TOTAL 14.8%* Company reports as of March 31

7

WRI

18.2%

20.4%21.6%21.6%

DDREQYREG FRTKIMRPAI

24.4%

19.2%

14.8%

Grocers Avg. $518 PSF

Strong Grocery Ties

Having started as a grocery store in 1901, Weingarten Realty has always emphasized the stability of grocery anchored centers to our continued success.

Strong Grocer Lineup

Specialty$470 Sales/SF

Other$327 Sales/SF

National$496 Sales/SF

41% of Total NOI

21% of Total NOI

8% of Total NOI

5% of Total NOI

Regional$588 Sales/SF

Your Neighborhood Food Market

75% of Our NOI is in Shopping Centers with a Grocer Component

8

Weingarten Store #9Houston, TX

Internet Resistance

% of WRI Rent

76%

Internet Resistant:- Supermarkets- Quick Service and Full

Service Restaurants- Personal Care Services- Medical- Pet Stores and Services- Discount Apparel

Potential Risk:- Some Women’s Apparel- Beauty Supplies- Sporting Goods

Internet Vulnerable:- Office- Electronics- Books

10%14%

9

A Leader In Environmental Sustainability

Energy Efficiency • Energy management systems

Water Conservation• Smart irrigation controllers• Remove and replace grass with Xeriscape• Drought-tolerant and native plant material• Mulching and ground covers to slow evaporation from soils

Recycling • National recycling program• Recycling of non-traditional materials from capital projects• Recycle clothing bins and books

Construction/ Building• Utilize white “cool proof” roofing systems• In-place reclamation / recycling of asphalt

10

We are committed as a strong community citizen to implement well-managed, environmentally-friendly policies and practices that further enhance property performance and value for the benefit of our tenants, our investors, and our world.

Portfolio

• Quality Retail Properties

• Necessity-Based Goods and Services

• High Income, High Job Growth Markets

• High Barrier-to-Entry Trade Areas

• Constant Improvement through Capital Recycling

11

Houston 18%California 17%Florida 15% Texas - non Houston 9%Nevada 8%Arizona 7%North Carolina 6%

Georgia 6%Colorado 3%Maryland <1%Washington <1%Oregon <1%Virginia <1%

Total Growth States 90%

Industrial PortfolioWeingarten exited the industrial business in 2012. It is now a pure play retail REIT.

Focused Growth Strategy

Regional Office

Denver

WA1%

OR<1%

AZ7%

CO3%

TX9%

Houston18%

VA/D.C.<1%

MD<1%

NC6%

GA6%

FL15%

CA17%

NV8%

Phoenix

Los Angeles

Atlanta

Raleigh

Orlando

FortLauderdale

Dallas

Sacramento

Las Vegas

UT<1%

NM1%

OK<1%

MO<1%

AR1%

LA2%

TN2%

KY2%

SC<1%

‘06

‘06

‘01

‘95

‘96

‘85

‘99

‘03

‘07

‘01

‘12

‘93

% of NOI with entry year into state

12

Decision Making Model

• Growth Potential

• Demographics

• Tenant Characteristics

• Local Expertise

• Property Layout

Clear Transformational Results

Acquisitions- High barrier-to-entry trade areas

within strong growth markets- Primarily supermarket anchored- Larger properties to gain

efficiencies

DispositionsNon-core markets and property types -

Smaller centers -Limited growth prospects -

Independent supermarkets -

Village Plaza at Bunker Hill | Houston, TX

Boulevard Market Place | Midwest City, OK

13

“We continue to improve the quality of the portfolio through recycling of capital by selling non-core properties and acquiring or developing assets in high barriers-to- entry trade areas within strong growth markets.”

Johnny Hendrix Executive Vice President / Chief Operating Officer

2007 Acquisitions Dispositions 3/31/2013

# of Properties 327 25 66 286

GLA SF 37.8 M 3.6 M 10.5 M 30.9 M

Average Base Rent PSF $12.57 $17.68 $10.80 $15.19

Average HH Income* $71,000 $102,000 $68,000 $81,000

Households* 39,000 60,000 32,000 43,000

Population* 102,000 134,000 83,000 107,000

Avg HH Density* 1,385 2,100 1,100 1,500

Capital Recycling Transforms the Portfolio

* Weighted by NOI

Over the last six years, we have acquired $1.1 billion of assets and sold $2.2 billion of assets

14Note: at prorata share

Recycling and Internal Growth Drives Continual Improvement in Quality

* Weighted by NOI

Increase 2007 Through 3/31/13

15

Average Average Base Rent* Household Income*

West 19% 8%

Mountain 19% 8%

Central 22% 19%

Mid-Atlantic 23% 12%

Southeast 9% 8%

TOTAL 19% 12%21% 13%

Leading Job Growth

Note: Results reflect January 2010 - June 30, 2012

By owned GLA

1%

2%

3%

4%

5%

6%

Strong Markets

• A disproportionate share of new job growth

• Immigration

• Better business environment / low tax states

• Migration within the United States (Baby Boomers)

4.78%4.40%

3.72%3.46%3.22%2.79%

WRIDDREQYREGFRTKIMRPAI

5.44%

Represents job growth in WRI’s top 10 markets as compared to job growth in each of our peers top 10 markets

16

Median Household Income Exceeds Our Peers

“New York, like San Francisco, is home to many of the richest Americans and best-paying jobs. The average paycheck clocks in at $69,029, fourth-highest in the country, but high costs, particularly for housing, eat up much of the local’s pay: adjusted for cost of living, the average salary is worth $44,605.”

Forbes.comThe Cities Where a Paycheck Stretches the Furthest, 7/9/12

* Weighted by NOISource: SNL Financial, STI Popstats

$40,000

$40,000

$42,500

$45,000

$45,000

$50,000

$47,500

$55,000

$50,000

$60,000

$52,500

$65,000

$55,000

$70,000

$57,500

$75,000

$60,000

$80,000

WRI

WRI

DDR

DDR

EQY

EQY

REG

REG

FRT

FRT

KIM

KIM

$57,623

$54,371

$69,924

$52,628

$57,053

$51,743

$56,743

$48,132

$55,659

$47,844

$74,027

Peer Average:$50,944

Peer Average:$62,681

AdjuSted for Cost of Living*

unAdjuSted for Cost of Living

17

$53,339

Growth Strategy

GOAL - Selective acquisitions and developments with growth potential

• Quality, supermarket anchored and necessity-based shopping centers

• High barrier-to-entry trade areas within strong growth markets

• Larger centers which promote operational efficiency

18

Village Plaza at Bunker HillHouston, TX

Recent Acquisitions

• Located near Fort Lauderdale, FL on a barrier island

• Anchored by high volume Publix grocery

• High barrier to entry location with the only Publix east of the inter-coastal waterway

• Property serves the middle to upper income areas of Sea Ranch Lakes, Lauderdale by the Sea and Pompano Beach Percentage College

Graduates:1 Mi: 51.5%3 Mi: 49.5%5 Mi: 44.5%

Property Size: 100,000 SF

Average Household Income: 1 Mi: $98,000 3 Mi: $90,0005 Mi: $81,000

19

Sea Ranch CentreSea Ranch Lakes, FL

Recent Acquisitions

Offering Memorandum

Independence PlazaLaredo, Texas

• High volume HEB anchored shopping center complemented by TJ Maxx and Ross Dress for Less

• Located in the largest population growth area of all metro areas in Texas influenced by the influx of Mexican nationals and jobs created by Eagle Ford

FUEL

MONARCH DRIVE

BOB BULLOCK (LOOP 20)

MCP

HERSO

N ROAD

NORTH

Population:1 Mi: 10,8013 Mi: 45,6895 Mi: 84,407



Independence PlazaLaredo, TX

20

Recent Acquisitions

• Dynamic, infill location near downtown Seattle

• Over 200,000 people within a 3 mile radius with over 68% holding college degrees

• Anchored by Metropolitan Market, upscale neighborhood market consistently ranked as the favorite grocer in Seattle by consumers




metropolitanmarket

LEVEL TWO

MERCER STREET

ROY STREET

1ST.

AVE

NU

E N

.

WA

RREN

AVE

NU

E N

.

NORTH

Yummy Teriyaki

GROUND LEVEL

MERCER STREET

ROY STREET

1ST.

AVE

NU

E N

.

WA

RREN

AVE

NU

E N

.

NORTH

21

Queen Anne MarketplaceSeattle, WA

Recent Acquisitions

• Located along the famed Sunset Strip in West Hollywood

• Extremely dense infill location with retail and office components

• Surrounded by exceptionally affluent residential communities, including Beverly Hills and Hollywood Hills

• Excellent visibility, with over 90,000 vehicles passing daily

• Anchored by popular Trader Joes, CB2 (Crate & Barrel), Sundance Cinema, Crunch Fitness

• 900 space income producing parking garagePopulation:1 Mi: 42,1363 Mi: 242,0535 Mi: 777,832

Property Size:173,000 SF

Average Household Income: 3 Mi: $104,000

LEVEL THREE

NORTH LEVEL TWO

NORTH


22

New Development

• Anchored by Wegman’s, the premier grocer in the Northeast• Dynamic mixed-use project with 250,000 sf retail and 100,000 sf office space upon completion• Located north of Ft. Belvoir, the largest employer of Fairfax Co. and an important Military Intelligence facility


Average Household Income: 3 Mi: $104,192


Hilltop Village Center | Alexandria, VA

TRAFFIC LIGHT

TRAFFIC LIGHT

TRAFFIC LIGHT

TRAFFIC LIGHT

FUTUREOFFICE

BUILDING+/-10,000sf

FUTUREPARKINGGARAGE

Second Floor

TELEGRAPH ROAD

BEULA

H STREET

CLEMALINE BOULEVARD

HIL

LTO

P VI

LLAG

E CE

NTE

R D

RIVE

HEN

ESKA

LO

OP

HENESKA LOOP

HEN

ESKA

LO

OP

OLD BEULAH STREET

GAILSON STREET

23

Development Pipeline

• 2 properties with $97 million investment upon completion

• 2013 completions will contribute $2 - $3 million annually in NOI

Performance

Great People

Great Properties

Great Platform

Equals

GREAT PERfORMANCE.

Oak Forest Shopping CenterHouston, TX

24

In over 60 years, occupancy has never dipped below 90%

Improving Operating Results

Quarter EndedYE YE YE

25

the Village ArcadeHouston, TX

2007 2011 2012 Q1 13

Occupancy

Spaces > 10K SF 96.8% 97.1% 97.1%

Spaces < 10K SF 86.7% 88.2% 88.2%

Total Occupancy 95.1% 93.0% 93.7% 93.7%

Number of Fallouts 491 476 380 116

Rental Growth 11.3% -0.4% 4.5% 3.9%

New 13.3% -6.7% 2.2% 3.9%

Renewal 10.5% 1.9% 5.2% 3.9%

Same Property NOI Growth 2.3% 0.4% 4.2% 3.9%

Strong Balance Sheet Positions for Growth

Net Debt to EBITDA

Fixed Charge Coverage Investment Grade Ratings

7.50x

2.25x

7.00x

2.00x

6.50x

6.00x

1.75x

5.50x

1.50x

2007

2007 Q1 2013

Q1 2013“We intend to keep

leverage below 40% which positions us to take advantage of future investments.”

Stephen C. Richter Executive Vice President / Chief Financial Officer

1.84x

7.16x

2.18x

6.18x

26

Debt to Market Capitalization55%

45%

50%

35%

40%

30%2007 Q1 2013

49.3%

35.4%

S&P = BBB (Stable Outlook)

Moody’s = Baa2 (Stable Outlook)

Manageable Debt Maturities

As of 6/30/13Millions of Dollars (at prorata)

$50

$100

$150

$200

$250

$300

$350

$400

$450

2013 2014 2015 2016 2017

Unsecured Debt / BondsMortgage Debt

Since October of 2012, completed $600 million of 10 yr notes, $300 million at a rate of 3.42% and $300 million at a rate of 3.556%

• Paid down $500 million revolving credit facility

• Called for redemption of $200 million of 6.5% Series F Preferred Shares

• Redeemed $72.5 million of 6.95% preferred shares and $75 million of 6.75% preferred shares

27

$111

$162

$51

$25$163

$138

$315

$428

$113

$75

$240

$165

$90

$239

$149

Note: $419 million of capacity under our revolving credit facility.

Stock Price Performance - As of June 25, 2013

WRI$29.55

FNSHO

DDR$16.07

EQY$21.99

FRT$98.57

KIM$20.91

REG$48.34

RPAI$14.12

Peer Avg

5%0%-5% 10% 15% 20%

YTDStockTicker

Closing Stock PriceAs of 6/25/13

4.66%

2.62%

8.23%

19.38%

10.3%

2.59%

5.37%

28

10.38%

As of 5/31/13

-5.24%

Stock Multiple

5.0

10.0

15.0

20.0

25.0

WRI RPAIEQYREGFRT KIM

Recurring FFO $4.57 $2.51 $1.21 $1.31 $1.87 $0.90 $1.09 (Midpoint of 2013 guidance)

Stock Price $98.57 $48.34 $21.99 $20.91 $29.55 $14.12 $16.07 (as of 6/25/13)

21.6X19.3X 18.2X

15.8X16.0X 14.7X

DDR

Valuation Shows - It’s a Good Time to Buy WRI

Note: Earnings sourced from company supplements, stock price from Yahoo finance

Often finding an undervalued REIT with “best in class” brand identity can be difficult; however, Weingarten Realty Investors (WRI) is considered a high-quality REIT that has an exceptional track record of delivering on its promises for investors, tenants and customers.

Forbes.comUndervalued Pure Play Retail REIT Delivers, 11/2/12

15.7X

29

Guidance

2013Recurring FFO Per Share $1.84 - $1.90

Signed Occupancy 94% - 95%

Same Property NOI +2% to +3%

Retail Rental Growth +3% to +6%

Acquisitions (millions) $175 - $225

Development Investment (millions) $25 - $75

Dispositions (millions) $200 - $300

30

Summary - Weingarten Executing Our Strategy

31

• Deleveraged our balance sheet to improve our financial position - Debt to market cap has decreased to 35.4% and net debt to EBITDA to 6.18x

MOVING FORWARD.

Great People + Great Properties + Great Platform = Great Progress

• Further improving operations and leasing our portfolio back to 95 plus percent occupancy - Through 3/31/13, occupancy is 93.7%, up 30 basis points from a year ago and same property NOI for

the quarter was 3.9%

• Transforming the portfolio through recycling of capital by selling non-core properties and acquiring or developing assets in high barrier-to-entry trade areas within strong growth markets

- Over the last five years, average base rents increased over 20% and average household income increased 13% - Acquired $1.1 billion of assets and sold $2.2 billion of assets including the sale of our Industrial Portfolio

Notes

Notes

Notes

Investor Presentation

MOVING FORWARD.

Documents

Investor Presentation June 2013