SUPPLEMENTAL REPORTING INFORMATION

S U P P L E M E N TA LR E P O R T I N G I N F O R M AT I O N

2 0 2 0 | Q U A R T E R T W O

RPT RealtyQuarterly Financial and Operating SupplementJune 30, 2020

TABLE OF CONTENTSPage

EARNINGS RELEASE i - ivCondensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Funds from Operations 3 Reconciliation of Non-GAAP Financial Measures 4-6Non-GAAP Financial Definitions 7-8

FINANCIAL SUMMARYConsolidated Balance Sheet Detail 9 Consolidated Statements of Operations Detail 10 Other Supplemental Information - Consolidated Portfolio 11 Same Property Analysis at Pro-Rata 12 Consolidated Market Data 13

DEBT SUMMARY 14 Consolidated Summary of Outstanding Debt 15 Consolidated Summary of Debt Maturities 16 Debt Covenants 17

INVESTMENT ACTIVITY 18 Redevelopment / Outlots / Expansion Projects 19-20Acquisitions / Dispositions 21

PORTFOLIO SUMMARY at PRO-RATA 22 Portfolio Summary at Pro-Rata 23 Summary of Expiring GLA at Pro-Rata 24 Top Twenty-Five Retail Tenants (ranked by annualized base rent) - Portfolio at Pro-Rata 25 Leasing Activity - Portfolio at Pro-Rata 26 Portfolio Detail Report 27-30COVID-19 Impact - Tenant Status 31

UNCONSOLIDATED JOINT VENTURE FINANCIAL SUMMARY 32Unconsolidated Joint Venture Balance Sheets at Pro-Rata 33Unconsolidated Joint Venture Statements of Operations at Pro-Rata 34Other Unconsolidated Joint Venture Supplemental Information at Pro-Rata 35

MISCELLANEOUS 36 Analyst Coverage 37

Forward-Looking StatementsCertain information contained in this Quarterly Financial and Operating Supplemental Information Package may contain forward-looking statements that represent RPT Realty (the "Company") and it's management's hopes, intentions, beliefs, expectations or projections concerning the future. Management of RPT Realty believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, however the Company can give no assurance that such expectations will be attained or achieved. Many of the factors that will determine the outcome of forward-looking statements are beyond our ability to predict or control. Currently, one of the most significant factors is the potential adverse effect of the current COVID-19 pandemic on the financial condition, results of operations, cash flows, and performance of the Company and its tenants (including their ability to timely make rent payments), the real estate market (including the local markets where our properties are located), the financial markets and general global economy as well as the potential adverse impact on our ability to enter into new leases or renew leases with existing or favorable terms or at all. The impact of COVID-19 has, and will continue to have, on the Company and its tenants is highly uncertain, cannot be predicted and will vary based upon the duration, magnitude and scope of the pandemic as well as the actions taken by federal, state and local governments to mitigate the impact of COVID-19, including social distancing protocols, restrictions or relaxations on business activities and "shelter-in-place" and "stay at home" mandates. Additional factors that could cause actual results to vary from current expectations include, but are not limited to, (i) changes in general economic and real estate conditions; (ii) changes in the interest rate and/or other changes in interest rate environment; (iii) the availability of financing; (iv) adverse changes in the retail industry; and (v) our ability to qualify as a REIT. Additional information concerning factors that could cause actual results to differ from such forward-looking statements is contained in the company's SEC filings, including but not limited to the company's report on Form 10-K for the year ended December 31, 2019 and the Company's report on Form 10-Q for the quarter ended March 31, 2020, which you should interpret as being heightened as a result of the numerous and ongoing adverse impacts of COVID-19. Copies of each filing may be obtained from the company or the Securities & Exchange Commission. The Company assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

RPT REALTY REPORTS SECOND QUARTER 2020 RESULTS; PROVIDES COVID-19 UPDATE

• Net (loss) income attributable to common shareholders for the second quarter 2020 of $(4.6) million, or $(0.06) per diluted share, compared to $1.2 million, or $0.01 per diluted share for the same period in 2019.

• 92% of total tenants were open and operating, as of July 31, 2020, based on annualized base rent ("ABR").

• 75% of July and 65% of second quarter 2020 rents have been paid to date.

• 18% of July and 24% of second quarter 2020 rents are subject to signed or approved deferral agreements to date.

• Continued temporary suspension of payment of the common dividend. Decisions regarding future dividend payments will be made quarterly based on liquidity needs and REIT taxable income distribution requirements.

NEW YORK, August 4, 2020 - RPT Realty (NYSE:RPT) (the "Company") today announced its financial and operating results for the quarter ended June 30, 2020.

"During these unprecedented times, our operating platform continues to reflect our active hands-on approach and strong tenant relationships," said Brian Harper, President and CEO. “92% of our tenants are now open, which has translated into improving July rent collections and facilitated deferral arrangements covering the vast majority of our uncollected rents. The decision to shore up our already strong liquidity position at the outset of the pandemic is allowing us to focus on operations as we continue to build a pathway to normal rent collections, while also positioning us to play offense as demonstrated by the new grocer deals that are under negotiation.”

FINANCIAL RESULTS

Net (loss) income attributable to common shareholders for the second quarter 2020 of $(4.6) million, or $(0.06) per diluted share, compared to $1.2 million, or $0.01 per diluted share for the same period in 2019. Net (loss) income for the six months ended June 30, 2020 was $(2.6) million, compared to $13.7 million for the same period in 2019.

Funds from operations ("FFO") for the second quarter 2020 of $14.5 million, or $0.18 per diluted share, compared to $23.5 million, or $0.26 per diluted share for the same period in 2019.

Operating FFO for the second quarter 2020 of $12.8 million, or $0.16 per diluted share, compared to $22.8 million or $0.26 per diluted share for the same period in 2019. Operating FFO for the second quarter 2020 excludes certain net income that totaled $1.7 million, primarily attributable to insurance proceeds related to storm damage at Front Range Village in Fort Collins, CO. The change in Operating FFO was primarily driven by higher income not probable of collection and higher straight-line rent reserves as a result of the COVID-19 pandemic, in addition to lower NOI resulting from the contribution of a 51.5% interest in five assets into a joint venture formed in fourth quarter 2019. Second quarter 2020 rent not probable of collection and straight-line rent reserves totaled $5.9 million or $0.07 per diluted share and $1.4 million or $0.02 per diluted share, respectively, including the Company's share of unconsolidated joint ventures.

News Release (NYSE:RPT)

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OPERATING RESULTS

The Company's operating results include its consolidated properties and its pro-rata share of unconsolidated joint ventures.

Same property NOI during the second quarter 2020 decreased 13.2% compared to the same period in 2019. The decrease was driven by the impact of the COVID-19 pandemic, resulting in higher income not probable of collection, which detracted 14.7% from same property NOI growth.

During the second quarter 2020, the Company signed 23 leases totaling 159,320 square feet. Blended re-leasing spreads on comparable leases were 2.0% with an Annualized Base Rent ("ABR") of $16.28 per square foot. Re-leasing spreads on two comparable new and 18 renewal leases were (4.4)% and 2.3%, respectively.

As of June 30, 2020, the Company had $1.6 million of signed not commenced ABR that is scheduled to commence over the next twelve months.

The table below summarizes the Company's leased rate and occupancy results at June 30, 2020, March 31, 2020 and June 30, 2019.

June 30, 2020 March 31, 2020 June 30, 2019Consolidated & Joint Venture PortfolioLeased rate 93.6% 94.1% 94.9%

Occupancy 92.9% 93.3% 92.4%

Anchor (GLA of 10,000 square feet or more)Leased rate 96.7% 96.9% 97.6%

Occupancy 96.3% 96.5% 95.3%

Small Shop (GLA of less than 10,000 square feet)Leased rate 86.3% 87.3% 88.8%

Occupancy 84.9% 85.6% 85.7%

BALANCE SHEET

The Company ended the second quarter 2020 with $249.7 million in cash, cash equivalents and restricted cash. At June 30, 2020, the Company had approximately $1.1 billion of consolidated debt and finance lease obligations, which resulted in a trailing twelve month net debt to proforma adjusted EBITDA ratio of 7.0x. Consolidated debt had a weighted average interest rate of 3.41% and a weighted average maturity, excluding scheduled amortization, of 4.9 years.

FINANCING ACTIVITY

During the second quarter 2020, the Company repaid $50.0 million on its unsecured revolving line of credit. At June 30, 2020, the Company had $175.0 million drawn on its $350.0 million unsecured revolving line of credit.

DIVIDEND

In light of the disruption caused by the COVID-19 pandemic, the Board of Trustees has temporarily suspended the quarterly common dividend to retain cash. The Board of Trustees will continue to evaluate the Company’s dividend policy based upon the Company’s financial performance and economic outlook and, at a later date, intends to reinstate the quarterly common dividend in at least the amount required to continue qualifying as a REIT for U.S. federal income tax purposes.

On July 29, 2020, the Company’s Board of Trustees declared a third quarter 2020 Series D convertible preferred share dividend of $0.90625 per share. The current conversion ratio of the Series D convertible preferred shares can be found on the Company's website at investors.rptrealty.com/shareholder-information/dividends. The preferred dividend, for the period July 1, 2020 through September 30, 2020 is payable on October 1, 2020 to shareholders of record on September 18, 2020.

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2020 GUIDANCE

As announced on March 31, 2020, and in light of the continued uncertainties surrounding the impact of the COVID-19 pandemic on the economy, the Company has withdrawn all previously provided guidance for 2020 as disclosed in the Company’s fourth quarter 2019 earnings press release dated February 19, 2020.

COVID-19 UPDATE

The Company is closely monitoring the COVID-19 pandemic, including the impact on our business, employees, tenants, shopping centers and communities. The following summary is intended to provide information pertaining to the impacts of the COVID-19 pandemic on the Company’s business. Unless otherwise specified, the statistical and other information regarding the Company’s portfolio are as of July 31, 2020. These estimates are based on information available to the Company and includes its consolidated properties and its pro-rata share of unconsolidated joint ventures.

• 100% of the Company's 49 shopping centers remain open and operating.

• 92% of total tenants by ABR were open and operating, up from the low of 41% on April 22, 2020.

• 67% of the Company’s properties by ABR had a grocery or grocer component and 87% of ABR stemmed from national or regional tenants, as of June 30, 2020.

• 75% of July and 65% of second quarter 2020 rents have been paid.

• 18% of July and 24% of second quarter 2020 rents are subject to signed or approved deferral agreements.

• Ended the second quarter 2020 with $249.7 million in cash, cash equivalents and restricted cash with no debt maturities until June 27, 2021.

CONFERENCE CALL/WEBCAST:

The Company will host a live broadcast of its second quarter 2020 conference call to discuss its financial and operating results.

Date: Wednesday, August 5, 2020Time: 9:00 a.m. ETDial in #: (877) 705-6003International Dial in # (201) 493-6725Webcast: investors.rptrealty.com

A telephonic replay of the call will be available through August 12, 2020. The replay can be accessed by dialing (844) 512-2921 or (412) 317-6671 for international callers and entering passcode 13703970. A webcast replay will also be archived on the Company’s website for twelve months.

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SUPPLEMENTAL MATERIALS

The Company’s quarterly financial and operating supplement is available on its corporate web site at rptrealty.com. If you wish to receive a copy via email, please send requests to [email protected].

RPT Realty owns and operates a national portfolio of open-air shopping destinations principally located in top U.S. markets. The Company's shopping centers offer diverse, locally-curated consumer experiences that reflect the lifestyles of their surrounding communities and meet the modern expectations of the Company's retail partners. The Company is a fully integrated and self-administered REIT publicly traded on the New York Stock Exchange (the “NYSE”). The common shares of the Company, par value $0.01 per share (the “common shares”) are listed and traded on the NYSE under the ticker symbol “RPT”. As of June 30, 2020, our property portfolio consisted of 49 shopping centers (including five shopping centers owned through a joint venture) representing 11.9 million square feet of gross leasable area. As of June 30, 2020, the Company’s pro-rata share of the aggregate portfolio was 93.6% leased. For additional information about the Company please visit rptrealty.com.

Company Contact:

Vin Chao, Senior Vice President - Finance19 W 44th St. 10th Floor, Ste 1002New York, New York [email protected](212) 221-1752

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent our expectations, plans or beliefs concerning future events and may be identified by terminology such as “may,” “will,” “should,” “believe,” “expect,” “estimate,” “anticipate,” “continue,” “predict” or similar terms. Although the forward-looking statements made in this document are based on our good faith beliefs, reasonable assumptions and our best judgment based upon current information, certain factors could cause actual results to differ materially from those in the forward-looking statements. Many of the factors that will determine the outcome of forward-looking statements are beyond our ability to predict or control. Currently, one of the most significant factors is the potential adverse effect of the current COVID-19 pandemic on the financial condition, results of operations, cash flows and performance of the Company and our tenants (including their ability to timely make rent payments), the real estate market (including the local markets where our properties are located), the financial markets and general global economy as well as the potential adverse impact on our ability to enter into new leases or renew leases with existing tenants on favorable terms or at all. The impact COVID-19 has, and will continue to have, on the Company and its tenants is highly uncertain, cannot be predicted and will vary based upon the duration, magnitude and scope of the COVID-19 pandemic as well as the actions taken by federal, state and local governments to mitigate the impact of COVID-19, including social distancing protocols, restrictions on business activities and “shelter-in- place” and “stay at home” mandates. Additional factors which may cause actual results to differ materially from current expectations include, but are not limited to: our success or failure in implementing our business strategy; economic conditions generally and in the commercial real estate and finance markets specifically; the cost and availability of capital, which depends in part on our asset quality and our relationships with lenders and other capital providers; risks associated with bankruptcies or insolvencies or general downturn in the businesses of tenants; the potential adverse impact from tenant defaults generally or from the unpredictability of the business plans and financial condition of the Company's tenants, which are heightened as a result of the COVID-19 pandemic; the execution of rent deferral or concession agreements on the agreed-upon terms; our business prospects and outlook; changes in governmental regulations, tax rates and similar matters; our continuing to qualify as a REIT; and other factors detailed from time to time in our filings with the Securities and Exchange Commission ("SEC"), including in particular those set forth under “Risk Factors” in our latest annual report on Form 10-K and our latest quarterly report on Form 10-Q, which you should interpret as being heightened as a result of the numerous and ongoing adverse impacts of COVID-19. Given these uncertainties, you should not place undue reliance on any forward-looking statements. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future

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RPT REALTYCONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share amounts)(unaudited)

June 30,2020

December 31, 2019

ASSETSIncome producing properties, at cost:

Land $ 331,265 $ 331,265 Buildings and improvements 1,492,586 1,486,838 Less accumulated depreciation and amortization (372,103) (352,006)

Income producing properties, net 1,451,748 1,466,097 Construction in progress and land available for development 35,104 42,279

Net real estate 1,486,852 1,508,376 Equity investments in unconsolidated joint ventures 128,804 130,321 Cash and cash equivalents 247,110 110,259 Restricted cash and escrows 2,549 4,293 Accounts receivable, net 35,602 24,974 Acquired lease intangibles, net 29,910 34,278 Operating lease right-of-use assets 18,905 19,222 Other assets, net 82,575 86,836 TOTAL ASSETS $ 2,032,307 $ 1,918,559

LIABILITIES AND SHAREHOLDERS' EQUITY Notes payable, net $ 1,103,996 $ 930,808 Finance lease obligation 926 926 Accounts payable and accrued expenses 41,063 55,360 Distributions payable 1,765 19,792 Acquired lease intangibles, net 36,857 38,898 Operating lease liabilities 18,002 18,181 Other liabilities 23,260 6,339 TOTAL LIABILITIES 1,225,869 1,070,304

Commitments and Contingencies

RPT Realty ("RPT") Shareholders' Equity: Preferred shares of beneficial interest, $0.01 par, 2,000 shares authorized: 7.25% Series D Cumulative Convertible Perpetual Preferred Shares, (stated at liquidation preference $50 per share), 1,849 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively 92,427 92,427 Common shares of beneficial interest, $0.01 par, 240,000 and 120,000 shares authorized as of June 30, 2020 and December 31, 2019, respectively, and 80,008 and 79,850 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively 800 798 Additional paid-in capital 1,171,287 1,169,557 Accumulated distributions in excess of net income (459,994) (436,361) Accumulated other comprehensive income (17,167) 1,819 TOTAL SHAREHOLDERS' EQUITY ATTRIBUTABLE TO RPT 787,353 828,240 Noncontrolling interest 19,085 20,015 TOTAL SHAREHOLDERS' EQUITY 806,438 848,255 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 2,032,307 $ 1,918,559

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RPT REALTYCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS


Three Months Ended Six Months EndedJune 30, June 30,

2020 2019 2020 2019REVENUE

Rental income $ 43,686 $ 56,641 $ 95,408 $ 114,999 Other property income 713 681 1,516 1,980 Management and other fee income 228 39 579 90

TOTAL REVENUE 44,627 57,361 97,503 117,069

EXPENSESReal estate tax expense 8,453 8,722 16,604 18,544 Recoverable operating expense 4,797 5,343 10,776 12,024 Non-recoverable operating expense 2,146 2,709 4,423 5,199 Depreciation and amortization 17,860 20,628 38,708 39,847 Transaction costs 12 — 186 — General and administrative expense 6,695 6,530 12,917 12,596 Insured expenses, net (1,713) — (1,653) —

TOTAL EXPENSES 38,250 43,932 81,961 88,210

OPERATING INCOME 6,377 13,429 15,542 28,859

OTHER INCOME AND EXPENSESOther income (expense), net 61 (123) 414 (231) Gain on sale of real estate — 371 — 6,073 Earnings from unconsolidated joint ventures 802 26 1,058 80 Interest expense (10,177) (10,084) (19,578) (20,433) Loss on extinguishment of debt — (622) — (622)

(LOSS) INCOME BEFORE TAX (2,937) 2,997 (2,564) 13,726 Income tax provision (19) (35) (50) (71)

NET (LOSS) INCOME (2,956) 2,962 (2,614) 13,655 Net loss (income) attributable to noncontrolling partner interest 68 (69) 60 (319)

NET (LOSS) INCOME ATTRIBUTABLE TO RPT (2,888) 2,893 (2,554) 13,336 Preferred share dividends (1,675) (1,675) (3,350) (3,350)

NET (LOSS) INCOME AVAILABLE TO COMMON SHAREHOLDERS $ (4,563) $ 1,218 $ (5,904) $ 9,986

(LOSS) EARNINGS PER COMMON SHAREBasic $ (0.06) $ 0.01 $ (0.08) $ 0.12 Diluted $ (0.06) $ 0.01 $ (0.08) $ 0.12

WEIGHTED AVERAGE COMMON SHARES OUTSTANDINGBasic 79,976 79,764 79,942 79,754 Diluted 79,976 80,156 79,942 80,148

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RPT REALTYRECONCILIATION OF NON-GAAP FINANCIAL MEASURES

FUNDS FROM OPERATIONS(In thousands, except per share data)

(unaudited)Three Months Ended

June 30,Six Months Ended

June 30,2020 2019 2020 2019

Net (loss) income $ (2,956) $ 2,962 $ (2,614) $ 13,655 Net loss (income) attributable to noncontrolling partner interest 68 (69) 60 (319) Preferred share dividends (1,675) (1,675) (3,350) (3,350) Net (loss) income available to common shareholders (4,563) 1,218 (5,904) 9,986 Adjustments:

Rental property depreciation and amortization expense 17,719 20,527 38,439 39,649 Pro-rata share of real estate depreciation from unconsolidated joint ventures (1) 1,369 14 2,782 28 Gain on sale of depreciable real estate — — — (5,702)

FFO available to common shareholders 14,525 21,759 35,317 43,961 Noncontrolling interest in Operating Partnership (2) (68) 69 (60) 319 Preferred share dividends (assuming conversion) (3) — 1,675 — 3,350

FFO available to common shareholders and dilutive securities $ 14,457 $ 23,503 $ 35,257 $ 47,630 Gain on sale of land — (371) — (371) Transaction costs (4) 12 — 186 — Insured expenses, net (1,713) — (1,653) — Severance expense (5) 66 — 128 98 Executive management reorganization, net (5)(6) — 698 — 446 Above and below market lease intangible write-offs 10 (1,663) (391) (1,674) Pro-rata share of acquisition costs from unconsolidated joint ventures (1) (217) — 401 — Loss on extinguishment of debt — 622 — 622 Payment of loan amendment fees (5) 184 — 184 — Bond interest proceeds (7) — — (213) —

Operating FFO available to common shareholders and dilutive securities $ 12,799 $ 22,789 $ 33,899 $ 46,751

Weighted average common shares 79,976 79,764 79,942 79,754 Shares issuable upon conversion of Operating Partnership Units (“OP Units”) (2) 1,909 1,909 1,909 1,909 Dilutive effect of restricted stock 100 392 299 394 Shares issuable upon conversion of preferred shares (3) — 6,923 — 6,923 Weighted average equivalent shares outstanding, diluted 81,985 88,988 82,150 88,980

FFO available to common shareholders and dilutive securities per share, diluted $ 0.18 $ 0.26 $ 0.43 $ 0.54

Operating FFO available to common shareholders and dilutive securities per share, diluted $ 0.16 $ 0.26 $ 0.41 $ 0.53

Dividend per common share $ — $ 0.22 $ 0.22 $ 0.44 Payout ratio - Operating FFO 0.0% 84.6% 51.2% 83.0%

(1) Amounts noted are included in Earnings from unconsolidated joint ventures.(2) The total noncontrolling interest reflects OP units convertible on a one-of-one basis into common shares.(3) 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest, $0.01 par (“Series D Preferred Shares”) are paid annual dividends of $6.7

million and are currently convertible into approximately 7.0 million shares of common stock. They are dilutive only when earnings or FFO exceed approximately $0.24 per diluted share per quarter and $0.96 per diluted share per year. The conversion ratio is subject to adjustment based upon a number of factors, and such adjustment could affect the dilutive impact of the Series D convertible preferred shares on FFO and earning per share in future periods.

(4) Costs associated with a terminated acquisition and a terminated disposition.(5) Amounts noted are included in General and administrative expense.(6) 2Q19 includes severance and accelerated vesting of restricted stock associated with our former Executive Vice President of Transactions and performance award

expense related to the Company's former Chief Executive Officer.(7) Amounts noted are included in Other income (expense), net.

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(amounts in thousands)(unaudited)

Reconciliation of net (loss) income available to common shareholders to Same Property Net Operating Income (NOI) at Pro-Rata

Three Months Ended June 30,

Six Months EndedJune 30,

2020 2019 2020 2019Net (loss) income available to common shareholders $ (4,563) $ 1,218 $ (5,904) $ 9,986

Preferred share dividends 1,675 1,675 3,350 3,350 Net (loss) income attributable to noncontrolling partner interest (68) 69 (60) 319 Income tax provision 19 35 50 71 Interest expense 10,177 10,084 19,578 20,433 Loss on extinguishment of debt — 622 — 622 Earnings from unconsolidated joint ventures (802) (26) (1,058) (80) Gain on sale of real estate — (371) — (6,073) Insured expenses, net (1,713) — (1,653) — Other (income) expense, net (61) 123 (414) 231 Management and other fee income (228) (39) (579) (90) Depreciation and amortization 17,860 20,628 38,708 39,847 Transaction costs 12 — 186 — General and administrative expenses 6,695 6,530 12,917 12,596 Pro-rata share of NOI from unconsolidated joint venture (1) 1,918 — 4,150 — Lease termination fees — (83) (142) (232) Amortization of lease inducements 191 128 329 224 Amortization of acquired above and below market lease intangibles, net (638) (2,463) (1,733) (3,372) Straight-line ground rent expense 76 76 153 153 Straight-line rental income 1,219 (574) 918 (1,384)

NOI at Pro-Rata (2) 31,769 37,632 68,796 76,601 NOI from Other Investments 331 (635) 790 (2,940)

Same Property NOI at Pro-Rata (3) $ 32,100 $ 36,997 $ 69,586 $ 73,661

(1) Represents 51.5% of the NOI from the five properties contributed to R2G Venture LLC after December 9, 2019. (2) Includes 100.0% of the NOI from the five properties contributed to R2G Venture LLC prior to December 10, 2019 and 51.5% of the NOI from the same five

properties after December 9, 2019. (3) Includes 51.5% of the NOI from the five properties contributed to R2G Venture LLC for all periods presented.

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Reconciliation of net (loss) incomeNet loss - Six months ended June 30, 2020 $ (2,614) Plus: Net income - Twelve months ended December 31, 2019 93,686 Less: Net income - Six months ended June 30, 2019 13,655 Net income - Twelve months ended June 30, 2020 $ 77,417

Twelve Months Ended June 30, 2020

Reconciliation of net income to proforma adjusted EBITDANet income $ 77,417 Interest expense 39,202 Income tax provision 158 Depreciation and amortization 77,508 Gain on sale of depreciable real estate (75,783) Pro-rata adjustments from unconsolidated entities 3,213 Gain on sale of joint venture depreciable real estate (385) Other gain on unconsolidated joint ventures (237) EBITDAre $ 121,093

Severance expense 160 Executive management reorganization, net 956 Above and below market lease intangible write-offs (2,242) Transaction costs 186 Pro-rata share of acquisition costs from unconsolidated entities 401 R2G Venture LLC related costs 499 Insured expenses, net 623 Loss on extinguishment of debt 1,949 Payment of loan amendment fees 184 Bond interest proceeds (213) Adjusted EBITDA 123,596 Proforma adjustments (1) (2,113) Proforma adjusted EBITDA $ 121,483

Reconciliation of Notes Payable, net to Net DebtNotes payable, net $ 1,103,996 Unamortized premium (1,541) Deferred financing costs, net 4,000 Consolidated notional debt 1,106,455 Finance lease obligation 926 Cash, cash equivalents and restricted cash (249,659) Pro-rata share of unconsolidated entities cash, cash equivalents and restricted cash (2,557) Net debt $ 855,165

Reconciliation of interest expense to total fixed chargesInterest expense $ 39,202 Preferred share dividends 6,701 Scheduled mortgage principal payments 2,445 Total fixed charges $ 48,348

Net debt to proforma adjusted EBITDA 7.0 xInterest coverage ratio (proforma adjusted EBITDA / interest expense) 3.1 xFixed charge coverage ratio (proforma adjusted EBITDA / fixed charges) 2.5 x

(1) The twelve months ended June 30, 2020 excludes $3.5 million representing 48.5% of the five properties contributed to R2G Venture LLC and $0.2 million from dispositions partially offset by $0.7 million from an annual expense that was fully recognized in the fourth quarter of 2019 and $0.9 million from the acquisition of Lakehills Plaza.

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Three Months Ended June 30,2020 2019

Reconciliation of net income to annualized proforma adjusted EBITDANet (loss) income $ (2,956) $ 2,962 Interest expense 10,177 10,084 Income tax provision 19 35 Depreciation and amortization 17,860 20,628 Gain on sale of depreciable real estate — — Pro-rata adjustments from unconsolidated entities 1,369 14 EBITDAre 26,469 33,723

Severance expense 66 — Executive management reorganization, net — 698 Above and below market lease intangible write-offs 10 (1,663) Transaction costs 12 — Pro-rata share of acquisition costs from unconsolidated entities (217) — Gain on sale of land — (371) Insured expenses, net (1,713) — Loss on extinguishment of debt — 622 Payment of loan amendment fees 184 — Adjusted EBITDA 24,811 33,009 Proforma adjustments (1) — 516 Proforma adjusted EBITDA $ 24,811 $ 33,525 Annualized proforma adjusted EBITDA $ 99,244 $ 134,100

Reconciliation of Notes Payable, net to Net DebtNotes payable, net $ 1,103,996 $ 934,223 Unamortized premium (1,541) (2,464) Deferred financing costs, net 4,000 2,083 Consolidated notional debt 1,106,455 933,842 Finance lease obligation 926 975 Cash, cash equivalents and restricted cash (249,659) (51,346) Pro-rata share of unconsolidated entities cash, cash equivalents and restricted cash (2,557) — Net debt $ 855,165 $ 883,471

Reconciliation of interest expense to total fixed chargesInterest expense $ 10,177 $ 10,084 Preferred share dividends 1,675 1,675 Scheduled mortgage principal payments 584 638 Total fixed charges $ 12,436 $ 12,397

Net debt to annualized proforma adjusted EBITDA 8.6 x 6.6 xInterest coverage ratio (proforma adjusted EBITDA / interest expense) 2.4 x 3.3 xFixed charge coverage ratio (proforma adjusted EBITDA / fixed charges) 2.0 x 2.7 x

(1) 2Q19 excludes $0.5 million of loss from dispositions. The proforma adjustments treat the activity as if they occurred at the start of each quarter.

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RPT RealtyNon-GAAP Financial Definitions

Certain of our key performance indicators are considered non-GAAP financial measures. Management uses these measures along with our GAAP financial statements in order to evaluate our operations results. We believe these measures provide additional and useful means to assess our performance. These measures do not represent alternatives to GAAP measures as indicators of performance and a comparison of the Company's presentations to similarly titled measures of other REITs may not necessarily be meaningful due to possible differences in definition and application by such REITs.

Funds From Operations (FFO)As defined by the National Association of Real Estate Investment Trusts (NAREIT), Funds From Operations (FFO) represents net income computed in accordance with generally accepted accounting principles, excluding gains (or losses) from sales of depreciable property and impairment provisions on depreciable real estate or on investments in non-consolidated investees that are driven by measurable decreases in the fair value of depreciable real estate held by the investee, plus depreciation and amortization of depreciable real estate, (excluding amortization of financing costs). Adjustments for unconsolidated partnerships and joint ventures are calculated to reflect funds from operations on the same basis. We have adopted the NAREIT definition in our computation of FFO.

Operating FFOIn addition to FFO, we include Operating FFO as an additional measure of our financial and operating performance. Operating FFO excludes transactions costs and periodic items such as gains (or losses) from sales of land and impairment provisions on land, bargain purchase gains, severance expense, executive management reorganization costs, net, accelerated amortization of debt premiums, gains or losses on extinguishment of debt, insured expenses, net, accelerated write-offs of above and below market lease intangibles and R2G Venture LLC related costs that are not adjusted under the current NAREIT definition of FFO. We provide a reconciliation of FFO to Operating FFO. In future periods, Operating FFO may also include other adjustments, which will be detailed in the reconciliation for such measure, that we believe will enhance comparability of Operating FFO from period to period. FFO and Operating FFO should not be considered alternatives to GAAP net income available to common shareholders or as alternatives to cash flow as measures of liquidity.

While we consider FFO available to common shareholders and Operating FFO available to common shareholders useful measures for reviewing our comparative operating and financial performance between periods or to compare our performance to different REITs, our computations of FFO and Operating FFO may differ from the computations utilized by other real estate companies, and therefore, may not be comparable. We recognize the limitations of FFO and Operating FFO when compared to GAAP net income available to common shareholders. FFO and Operating FFO available to common shareholders do not represent amounts available for needed capital replacement or expansion, debt service obligations, or other commitments and uncertainties. In addition, FFO and Operating FFO do not represent cash generated from operating activities in accordance with GAAP and are not necessarily indicative of cash available to fund cash needs, including the payment of dividends.

Net Operating Income (NOI) / Same Property NOI / NOI from Other InvestmentsNOI consists of (i) rental income and other property income, before straight-line rental income, amortization of lease inducements, amortization of acquired above and below market lease intangibles and lease termination fees less (ii) real estate taxes and all recoverable and non-recoverable operating expenses other than straight-line ground rent expense, in each case, including our share of these items from our R2G Venture LLC unconsolidated joint venture.

NOI, Same Property NOI and NOI from Other Investments are supplemental non-GAAP financial measures of real estate companies' operating performance. Same Property NOI is considered by management to be a relevant performance measure of our operations because it includes only the NOI of comparable operating properties for the reporting period. Same Property NOI for the three and six months ended June 30, 2020 and 2019 represents NOI from the Company's same property portfolio consisting of 41 consolidated operating properties acquired or placed in service and stabilized prior to January 1, 2019 and five previously consolidated properties contributed to the newly formed joint venture, R2G Venture LLC, in December 2019. Same property NOI from these five properties includes 51.5% of their NOI as a consolidated property for the period January 1, 2019 through June 30 2019 and 51.5% of their NOI as an unconsolidated property accounted for under the equity method for the period January 1, 2020 through June 30, 2020. Same Property NOI excludes properties under redevelopment or where activities have started in preparation for redevelopment. A property is designated as a redevelopment when planned improvements significantly impact the property. NOI from Other Investments for the three and six months ended June 30, 2020 and 2019 represents NOI primarily from (i) properties disposed of and acquired during 2019, (ii) 48.5% of the NOI prior to December 10, 2019 from the five previously consolidated properties contributed to the R2G Venture LLC unconsolidated joint venture, (iii) Webster Place and Rivertowne Square where the Company has begun activities in anticipation of future redevelopment, (iv) certain property related employee compensation, benefits, and travel expense and (v) noncomparable operating income and expense adjustments.

NOI, Same Property NOI and NOI from Other Investments should not be considered as alternatives to net income in accordance with GAAP or as measures of liquidity. Our method of calculating these measures may differ from methods used by other REITs and, accordingly, may not be comparable to such other REITs.

Page 7

RPT RealtyNon-GAAP Financial Definitions (continued)

EBITDAre/Adjusted EBITDA/Proforma Adjusted EBITDANAREIT defines EBITDAre as net income computed in accordance with GAAP, plus interest expense, income tax expense (benefit), depreciation and amortization and impairment of depreciable real estate and in substance real estate equity investments; plus or minus gains or losses from sales of operating real estate assets and interests in real estate equity investments; and adjustments to reflect our share of unconsolidated real estate joint ventures and partnerships for these items. The Company calculates EBITDAre in a manner consistent with the NAREIT definition. The Company also presents Adjusted EBITDA which is EBITDAre net of other items that we believe enhance comparability of Adjusted EBITDA across periods and are listed as adjustments in the applicable reconciliation. EBITDAre and Adjusted EBITDA should not be considered an alternative measure of operating results or cash flow from operations as determined in accordance with GAAP.

Pro-RataWe present certain financial information on a “pro-rata” basis or including “pro-rata” adjustments. Unless otherwise specified, pro-rata financial information includes our proportionate economic ownership of each of our unconsolidated joint ventures derived on an entity-by-entity basis by applying the ownership percentage interest used to arrive at our share of the net operations for the period consistent with theapplication of the equity method of accounting to each of our unconsolidated joint ventures. See page 30 of our quarterly financial and operating supplement for a discussion of important considerations and limitations that you should be aware of when review financial information that we present on a pro-rata basis or including pro-rata adjustment.

OccupancyOccupancy is defined, for a property or group of properties, as the ratio, expressed as a percentage, of (a) the number of square feet of such property economically occupied by tenants under leases with an initial term of greater than one year, to (b) the aggregate number of square feet for such property.

Leased RateLease Rate is defined, for a property or group of properties, as the ratio, expressed as a percentage, of (a) the number of square feet of such property under leases with an initial term of greater than one year, including signed leases not yet commenced, to (b) the aggregate number of square feet for such property.

Metropolitan Statistical Area (MSA)Metropolitan Statistical Area (MSA) information is sourced from the United States Census Bureau and rank is determined based on the most recently available population estimates.

Page 8

RPT RealtyConsolidated Balance Sheet DetailJune 30, 2020 and December 31, 2019(in thousands)(unaudited)

June 30, December 31,2020 2019

Construction in progress and land available for developmentConstruction in progress $ 6,363 $ 13,777 Land available for development 28,741 28,502

Construction in progress and land available for development $ 35,104 $ 42,279

Equity investments in unconsolidated joint venturesR2G Venture LLC (51.5%) $ 128,766 $ 130,281 Ramco/Lion Venture LP (30%) 38 40

Equity investments in unconsolidated joint ventures $ 128,804 $ 130,321

Other assets, netDeferred leasing costs, net $ 28,256 $ 30,442 Deferred financing costs on unsecured revolving credit facility, net 2,308 2,659 Straight-line rent receivable, net 18,688 19,605 Cash flow hedge mark-to-market asset — 2,331 Prepaid and other deferred expenses, net 4,431 2,662 Acquired development agreements (1) 17,496 18,017 Other, net 11,396 11,120

Other assets, net $ 82,575 $ 86,836

Other liabilities, netCash flow hedge mark-to-market liability $ 17,575 $ 469 Deferred liabilities 2,800 2,957 Tenant security deposits 2,885 2,913

Other liabilities, net $ 23,260 $ 6,339

(1) Acquired development agreements are amortized over the life of the agreements.

Page 9

RPT RealtyConsolidated Statements of Operations DetailFor the Three and Six Months Ended June 30, 2020 and 2019(in thousands)(unaudited)

Three Months EndedJune 30,


2020 2019 2020 2019Rental Income

Base rent, net (1) $ 38,161 $ 41,477 $ 76,782 $ 83,600 Straight-line rental income, net (1,219) 574 (918) 1,384 Amortization of acquired above and below market lease intangibles, net 638 2,463 1,733 3,372 Rental income not probable of collection (2) (5,709) (160) (6,253) (282) Percentage rent 26 242 126 522 Recovery income from tenants (1) 11,789 12,045 23,938 26,403

Total rental income $ 43,686 $ 56,641 $ 95,408 $ 114,999

Other Property IncomeLease termination income $ — $ 83 $ 142 $ 232 Other property income 713 598 1,374 1,748

Total other property income $ 713 $ 681 $ 1,516 $ 1,980

Gain on Sale of Real EstateGain on sale of depreciable real estate $ — $ — $ — $ 5,702 Gain on land sales — 371 — 371

Total gain on sale of real estate $ — $ 371 $ — $ 6,073

Earnings from Unconsolidated Joint VenturesNet income $ 802 $ 26 $ 1,058 $ 80

Total earnings from unconsolidated joint ventures $ 802 $ 26 $ 1,058 $ 80

Other Operating Expense Supplemental InformationGround rent expense $ 214 $ 214 $ 428 $ 428 Ground rent straight-line 76 76 153 153

$ 290 $ 290 $ 581 $ 581

(1) As of July 31,2020, accrued but uncollected second quarter base rent, net and recovery income from tenants was $17.0 million of which $5.5 million was reserved for as rental income not probable of collection as of June 30, 2020.

(2) For the three months ended June 30, 2020, includes $5.5 million related to uncollected balances during the second quarter 2020 and $0.2 million related to uncollected balances prior to the second quarter 2020.

Page 10

RPT Realty

Other Supplemental Information - Consolidated Portfolio

For the Three and Six Months Ended June 30, 2020 and 2019

(in thousands)

(unaudited)

Three Months EndedJune 30,


2020 2019 2020 2019Non-Cash Rental Income

Straight-line rental income, net (1) $ (1,219) $ 574 $ (918) $ 1,384 Amortization of acquired above and below market lease intangibles, net 638 2,463 1,733 3,372

$ (581) $ 3,037 $ 815 $ 4,756

Non-Cash General and Administrative ExpenseShare-based compensation expense (2) $ 996 $ 1,167 $ 1,816 $ 1,979 Long-term incentive plan expense (3) 747 601 1,026 807 Straight-line rent expense (7) (18) (15) (5)

$ 1,736 $ 1,750 $ 2,827 $ 2,781

Non-Cash Interest Expense and Other Non Cash ExpenseCapitalized interest (benefit) $ (1) $ (36) $ (2) $ (60) Amortization of premium on mortgage debt (benefit) (226) (242) (454) (484) Amortization of debt issuance costs 342 356 685 718 Straight-line ground rent expense (4) 76 76 153 153

Ongoing Capital ExpendituresLeasing capital expenditures $ 1,584 $ 4,366 $ 2,735 $ 8,955 Building improvements (5) 111 2,058 1,366 3,098

Total ongoing capital expenditures $ 1,695 $ 6,424 $ 4,101 $ 12,053

Discretionary Capital ExpendituresTargeted remerchandising $ 2,170 $ 4,500 $ 3,896 $ 9,403 Outlots/expansions 191 916 303 6,770 Development/redevelopment 78 356 303 730

Total discretionary capital expenditures $ 2,439 $ 5,772 $ 4,502 $ 16,903

(1) Includes $1.4 million of straight-line rental income write-offs associated with rental income that is not probable of collection for the three and six months ended June 30, 2020.

(2) Represents amortization of service based restricted share awards to management and trustees.(3) Expense on certain awards are marked-to-market each quarter based on the Company's total shareholder's return relative to a group of

designated peers which can produce volatility in earnings. Expense on equity-classified awards are valued as of the grant date based upon the Company's total shareholder's return relative to a group of designated peers and amortized ratably throughout the performance period. The Company uses a third party compensation consultant to assist in estimating the fair value of these awards.

(4) Amounts are included in Non-recoverable operating expense.(5) For the three and six months ended June 30, 2020 excludes $2.7 million and $3.9 million, respectively, of insurance reimbursable capital

expenditures.

Page 11

RPT RealtySame Property Analysis at Pro-RataFor the Three and Six Months Ended June 30, 2020 and 2019(in thousands)(unaudited)

Three Months Ended June 30, Six Months Ended June 30,2020 2019 Change 2020 2019 Change

Number of operating properties in retail portfolio 46 46 46 46 Annualized Base Rent per square foot (ABR/SF) $ 15.27 $ 15.09 1.2% $ 15.27 $ 15.09 1.2%Leased Rate 93.9 % 94.8 % (0.9)% 93.9 % 94.8 % (0.9)%Occupancy 93.2 % 92.2 % 1.0% 93.2 % 92.2 % 1.0%

RevenueBase rent, net (1) $ 39,094 $ 38,525 1.5% $ 78,583 $ 76,549 2.7%Rental income not probable of collection (2) (5,593) (136) 4,012.5% (6,147) (250) 2,358.8%Percentage rent 49 124 (60.5)% 202 366 (44.8)%Recovery income from tenants (1) 11,772 11,422 3.1% 24,218 24,418 (0.8)%

Same property rental income 45,322 49,935 (9.2)% 96,856 101,083 (4.2)%Other property income 695 724 (4.0)% 1,305 1,819 (28.3)%

$ 46,017 $ 50,659 (9.2)% $ 98,161 $ 102,902 (4.6)%Expenses

Real estate taxes $ 8,295 $ 7,998 3.7% $ 16,287 $ 16,778 (2.9)%Recoverable operating expense 4,818 4,764 1.1% 10,756 10,722 0.3%Non-recoverable operating expense 804 900 (10.7)% 1,532 1,741 (12.0)%

$ 13,917 $ 13,662 1.9% $ 28,575 $ 29,241 (2.3)%

Same Property NOI at Pro-Rata (3) $ 32,100 $ 36,997 (13.2)% $ 69,586 $ 73,661 (5.5)%

Operating Expense Recovery Ratio 89.8 % 89.5 % 0.3% 89.6 % 88.8 % 0.8%

(1) As of July 31, 2020, accrued but uncollected second quarter base rent, net and recovery income from tenants was $16.7 million of which $5.5 million was reserved for as rental income not probable of collection as of June 30, 2020.

(2) For the three months ended June 30, 2020, includes $5.5 million related to uncollected balances during the second quarter 2020 and $0.1 million related to uncollected balances prior to the second quarter 2020.

(3) Refer to pages 3-8 for reconciliations and definitions of Non-GAAP financial measures.

Page 12

RPT RealtyConsolidated Market DataJune 30, 2020 and 2019(in thousands, except per share amounts)

June 30,2020 2019

Market price per common share $ 6.96 $ 12.11

Market price per convertible perpetual preferred share $ 34.16 $ 50.78

Common shares outstanding 80,008 79,816 Operating Partnership Units outstanding 1,909 1,909 Restricted share awards (treasury method) 100 392 Total common shares and equivalents 82,017 82,117

Equity market capitalization $ 570,838 $ 994,437

Fixed rate debt (excluding unamortized premium & deferred financing costs) $ 931,455 $ 933,842 Variable rate debt 175,000 —

Total consolidated fixed and variable rate debt 1,106,455 933,842 Finance lease obligation 926 975 Cash, cash equivalents and restricted cash (249,659) (51,346) Pro-rata share of unconsolidated entities cash, cash equivalents and restricted cash (2,557) —

Net debt $ 855,165 $ 883,471

Equity market capitalization 570,838 994,437 Convertible perpetual preferred shares (at market) 63,162 93,892 Total market capitalization $ 1,489,165 $ 1,971,800

Page 13

DEBT SUMMARY

Page 14

RPT RealtyConsolidated Summary of Outstanding DebtJune 30, 2020(in thousands)

Balanceat

6/30/20

StatedInterest

RateLoanType

Maturity DateProperty Name Lender or Servicer

Mortgage DebtBridgewater Falls Shopping Center Wells Fargo Bank, N.A. $ 52,857 5.70 % Fixed Feb-22The Shops on Lane Avenue New York Life 28,433 3.76 % Fixed Jan-23Nagawaukee II Principal Life Insurance 5,165 5.80 % Fixed Jun-26

Subtotal mortgage debt 86,455 5.07 % Unamortized premium 1,541

Total mortgage debt, net $ 87,996

Unsecured Credit FacilitiesUnsecured Term Loan (1) Key Bank, as agent $ 60,000 2.97 % Fixed Mar-23Unsecured Revolving Credit Facility Key Bank, as agent 175,000 1.28 % Variable Nov-23 (6)

Unsecured Term Loan (2) Key Bank, as agent 50,000 2.46 % Fixed Nov-24Unsecured Term Loan (3) Key Bank, as agent 50,000 2.52 % Fixed Feb-25Unsecured Term Loan (4) Key Bank, as agent 50,000 2.90 % Fixed Nov-26Unsecured Term Loan (5) Key Bank, as agent 100,000 3.07 % Fixed Feb-27

Subtotal unsecured credit facilities 485,000 2.27 %

Senior Unsecured DebtSenior Unsecured Notes Various $ 37,000 3.75 % Fixed Jun-21Senior Unsecured Notes Various 41,500 4.12 % Fixed Jun-23Senior Unsecured Notes Prudential Capital Group 50,000 4.65 % Fixed May-24Senior Unsecured Notes AIG 25,000 4.05 % Fixed Nov-24Senior Unsecured Notes Various 31,500 4.27 % Fixed Jun-25Senior Unsecured Notes Prudential Capital Group 50,000 4.20 % Fixed Jul-25Senior Unsecured Notes AIG 50,000 4.09 % Fixed Sep-25Senior Unsecured Notes Prudential Capital Group 50,000 4.74 % Fixed May-26Senior Unsecured Notes AIG 25,000 4.28 % Fixed Nov-26Senior Unsecured Notes Various 30,000 4.57 % Fixed Dec-27Senior Unsecured Notes TIAA, AIG 75,000 3.64 % Fixed Nov-28Senior Unsecured Notes Various 20,000 4.72 % Fixed Dec-29Senior Unsecured Notes Various 50,000 4.15 % Fixed Dec-29

Subtotal senior unsecured notes 535,000 4.20 % Deferred financing costs (4,000)

Total unsecured debt, net $ 1,016,000

Total consolidated debt, net $ 1,103,996

Finance Lease ObligationButtermilk Towne Center (7) City of Crescent Springs $ 926 5.23 % Finance Lease Dec-32 Total Finance Lease Obligation $ 926

(1) Swapped to a weighted average fixed rate of 1.77%, plus a credit spread of 1.20%, based on a leverage grid at June 30, 2020.(2) Swapped to a weighted average fixed rate of 1.26%, plus a credit spread of 1.20%, based on a leverage grid at June 30, 2020.(3) Swapped to a weighted average fixed rate of 1.32%, plus a credit spread of 1.20%, based on a leverage grid at June 30, 2020.(4) Swapped to a weighted average fixed rate of 1.30%, plus a credit spread of 1.60%, based on a leverage grid at June 30, 2020.(5) Swapped to a weighted average fixed rate of 1.47%, plus a credit spread of 1.60%, based on a leverage grid at June 30, 2020.(6) The unsecured revolving credit facility has two six-month extensions available at the Company's option provided compliance with financial covenants is

maintained.(7) At expiration, the Company has the right to purchase the land under the center for one dollar.

Page 15

RPT RealtyConsolidated Summary of Debt MaturitiesJune 30, 2020(in thousands)

Year

Consolidated Scheduled Maturities

Weighted Average

Interest Rate +

Consolidated Scheduled

Amortization Payments =

Total Scheduled Debt Maturing

Percentage of Debt Maturing

2020 $ — — % $ 1,201 $ 1,201 0.1 %2021 37,000 3.75 % 2,508 39,508 3.6 %2022 50,949 5.70 % 1,448 52,397 4.7 %2023 (1) 303,559 2.23 % 829 304,388 27.5 %2024 125,000 3.65 % 879 125,879 11.4 %2025 181,500 3.72 % 931 182,431 16.5 %2026 125,000 3.91 % 651 125,651 11.4 %2027 130,000 3.42 % — 130,000 11.7 %2028 75,000 3.64 % — 75,000 6.8 %2029 70,000 4.31 % — 70,000 6.3 % Debt $ 1,098,008 3.41 % $ 8,447 $ 1,106,455 100.0 % Unamortized premium 1,541 Deferred financing costs (4,000) Total debt $ 1,103,996

Weighted average term of debt, excluding scheduled amortization: 4.9 years.

(1) Scheduled maturities in 2023 include the $175.0 million balance on the unsecured revolving credit facility drawn as of June 30, 2020. The unsecured revolving credit facility has two six-month extensions available at the Company's option provided compliance with financial covenants is maintained, which are not reflected in the table above.

Page 16

RPT RealtyDebt CovenantsJune 30, 2020

Unsecured Revolving Credit Facility, Term Loans due 2023, 2024, 2025, 2026 & 2027 (1)

Covenant June 30, 2020

Leverage ratio ≤ 60.0% 40.1 %

Secured leverage ratio ≤ 40.0% 0.0% (2)

Fixed charge coverage ratio ≥ 1.50x 2.42x

Unencumbered leverage ratio ≤ 60.0% 56.5% (2)

Unencumbered interest coverage ratio ≥ 1.75x 3.65x

(1) For a complete listing of all covenants and related definitions for our Unsecured Revolving Credit Facility, refer to the Fifth Amended and Restated Unsecured Master Loan Agreement, dated November 6, 2019, filed as Exhibit 10.1 to our Current Report on Form 8-K filed on November 8, 2019 (the “credit agreement”). Covenants are calculated in accordance with the credit agreement and are included to demonstrate our compliance with such covenants and should not be viewed as a measure of our historical or future financial performance, financial position or cash flows.

(2) The secured leverage ratio and unencumbered leverage ratio would have been 0.7% and 46.9% as of June 30, 2020, respectively, without the additional $175.0 million of borrowings under our unsecured revolving credit facility that occurred in the first half of 2020. The additional $175.0 million of borrowings was to strengthen our liquidity position due to the COVID-19 pandemic. The unencumbered leverage ratio as of December 31, 2019 was 45.4%.

Page 17

INVESTMENT ACTIVITY

Page 18

RPT RealtyRedevelopment / Outlots / Expansion ProjectsJune 30, 2020(in thousands)

ACTIVE OUTLOTS / EXPANSION

Property Name MSAOwnership

%

Property Included in Same Property

Portfolio Project DescriptionIncremental

New GLA

Actual/ Projected

Construction Completion(1)

Projected Stabilization(2)

Projected Net

Costs(3)Cost in Period

Cost to Date

Cost to Complete

Estimated Return on

Cost(4)

None

Total

RECENTLY STABILIZED PROJECTS IN THE LAST 12 MONTHS

Property Name MSAOwnership

%


Portfolio Project DescriptionIncremental

New GLA Stabilization(2)Net Project

Costs(3)

River City Marketplace

Jacksonville, FL 100.0% Yes Construct new multi-tenant outparcel building 11,100 2Q20 $ 2,900

Parkway Shops Jacksonville, FL 100.0% Yes Site work to accommodate new ground lease pad with Aldi 26,000 1Q20 1,200

Total $37,100 $ 4,100

(1) Construction Completion represents the date that construction is expected to be substantially complete.(2) Stabilization represents the earlier of the project reaching 90% occupancy or one year from the completion of major construction activity.(3) Net costs denote the Company's estimated project costs.(4) Estimated Return on Cost reflects unleveraged incremental NOI generated by the project upon stabilization divided by incremental cost.

Page 19

RPT RealtyRedevelopment / Outlots / Expansion Projects (continued)June 30, 2020

DEVELOPMENT / REDEVELOPMENT OPPORTUNITIES

Property Name MSA Ownership %


Portfolio Project Description

Marketplace of Delray Miami, FL 100.0% Yes Extensive repositioning of the underutilized portion of the center with potential mixed-use components

Mission Bay Plaza Miami, FL 51.5% Yes South side redevelopment

Parkway Shops Jacksonville, FL 100.0% Yes Densification of site on undeveloped parcel

Rivertowne Square(1) Miami, FL 100.0% No Redevelopment and densification with potential mixed-use components

The Shops on Lane Avenue Columbus, OH 100.0% Yes Extensive redevelopment and repositioning including potential mixed-use portions

Webster Place(1) Chicago, IL 100.0% No Redevelopment, densification and rebranding with mixed-use components

OUTLOTS / EXPANSION OPPORTUNITIES

Property Name MSA Ownership %


Portfolio Project Description

Buttermilk Towne Center Cincinnati, OH 100.0% Yes 15,000 to 25,000 SF in pad opportunities along the southeast portion of the site

Front Range Village Denver, CO 100.0% Yes Ground lease opportunity along Council Tree Avenue and East Harmony Road

Tel-Twelve Detroit, MI 100.0% Yes 5,000 SF pad for potential restaurant tenant on Telegraph Road

Town & Country Crossing St. Louis, MO 51.5% Yes 4,000 to 15,000 SF of pad development opportunities

Village Lakes Tampa, FL 100.0% Yes 7,000 SF pad for retail use adjacent to State Rd. 54

Olentangy Plaza Columbus, OH 100.0% Yes 4,000 to 5,000 SF pad for retail use on Bethel Road

(1) Not included in the same property portfolio as the Company has begun preparation activities for near-term redevelopment.

Page 20

RPT RealtyAcquisitions / DispositionsFor the Six Months Ended June 30, 2020(in thousands, except acreage)

CONSOLIDATED PORTFOLIO

No acquisition or disposition activity during the six months ended June 30, 2020.

UNCONSOLIDATED JOINT VENTURES

No acquisition or disposition activity during the six months ended June 30, 2020.

Page 21

PORTFOLIO SUMMARY at PRO-RATA

Page 22

RPT RealtyPortfolio Summary at Pro-Rata (1)

June 30, 2020

Portfolio Data

ConsolidatedJoint

Ventures

Aggregate Portfolio

Totals / Average

Number of Properties 44 5 49 Gross Leasable Area (GLA) 11,126,727 400,076 11,526,803 Ground Lease GLA 947,276 15,080 962,356 Annualized Base Rent per square foot (ABR/SF) $ 15.09 $ 22.97 $ 15.37 Leased Rate 93.6 % 94.7 % 93.6 %

Anchor 96.7 % 94.7 % 96.7 %Small Shop 85.8 % 94.7 % 86.3 %

Occupancy 92.8 % 94.7 % 92.9 %Anchor 96.3 % 94.7 % 96.3 %Small Shop 84.3 % 94.7 % 84.9 %

Market Summary

MSANumber of Properties (2)

Owned GLA (100%) Owned GLA Leased % Occupied % ABR/SF % of ABR

Top 40 MSAs:Atlanta 3 527,291 527,291 95.0 % 94.1 % $ 12.13 3.7 %Austin 1 75,923 75,923 94.4 % 94.4 % 25.78 1.1 %Baltimore 1 252,230 252,230 96.3 % 96.3 % 9.82 1.4 %Chicago 4 766,824 766,824 85.3 % 85.3 % 14.76 5.9 %Cincinnati 3 1,262,582 1,262,582 94.5 % 93.0 % 16.02 11.4 %Columbus 2 435,311 435,311 93.9 % 89.0 % 18.14 4.3 %Denver 1 504,008 504,008 89.0 % 88.6 % 20.07 5.4 %Detroit 9 2,316,662 2,269,730 94.9 % 94.9 % 14.89 19.5 %Indianapolis 1 251,433 251,433 95.7 % 87.9 % 14.54 1.9 %Jacksonville 2 756,492 756,492 92.2 % 92.2 % 17.05 7.2 %Miami 6 1,034,876 795,518 93.0 % 91.6 % 16.75 7.4 %Milwaukee 2 546,306 546,306 91.7 % 91.7 % 12.66 3.9 %Minneapolis 2 445,234 445,234 89.8 % 89.8 % 25.37 6.2 %Nashville 1 632,554 632,554 97.7 % 97.7 % 13.50 5.1 %St. Louis 4 827,431 736,950 95.4 % 95.4 % 14.49 6.2 %Tampa 4 752,486 752,486 97.4 % 97.4 % 12.96 5.8 %Top 40 MSA subtotal 46 11,387,643 11,010,872 93.6 % 92.9 % $ 15.50 96.4 %Not Top 40 MSA 3 515,931 515,931 93.1 % 92.7 % 12.42 3.6 %Total 49 11,903,574 11,526,803 93.6 % 92.9 % $ 15.37 100.0 %

(1) Shown at pro-rata except for number of properties and as otherwise indicated.(2) Properties in MSA that are in JV: Detroit (1), Miami (3) and St. Louis (1).

Page 23

RPT RealtySummary of Expiring GLAPortfolio at Pro-Rata (1)

June 30, 2020

All LeasesExpiration Year Number of Leases Owned GLA % of Owned GLA % of ABR (2) ABR/sf2020 52 268,736 2.3 % 2.4 % $ 15.02 2021 196 1,248,746 10.8 % 13.0 % 17.08 2022 176 1,055,856 9.2 % 11.3 % 17.67 2023 196 1,704,509 14.8 % 15.8 % 15.24 2024 130 1,135,862 9.9 % 9.6 % 13.86 2025 101 1,209,762 10.5 % 10.8 % 14.70 2026 72 1,163,151 10.1 % 9.2 % 13.00 2027 61 490,461 4.2 % 5.1 % 17.01 2028 82 762,626 6.6 % 7.8 % 16.91 2029 93 780,556 6.8 % 6.6 % 13.91 2030+ 62 752,318 6.5 % 7.0 % 15.38 Tenants month to month 36 135,726 1.2 % 1.4 % 16.51 Sub-Total 1,257 10,708,309 92.9 % 100.0 % $ 15.37 Leased (3) 15 80,469 0.7 % N/A N/A Vacant 176 738,025 6.4 % N/A N/A Total 1,448 11,526,803 100.0 % 100.0 % N/A

Anchor Tenants - GLA of 10,000 square feet or moreExpiration Year Number of Leases Owned GLA % of Owned GLA % of ABR (2) ABR/sf2020 5 156,540 1.9 % 1.6 % $ 9.69 2021 37 817,579 10.1 % 12.1 % 13.96 2022 28 633,894 7.8 % 9.1 % 13.62 2023 38 1,270,435 15.7 % 15.9 % 11.84 2024 31 821,167 10.1 % 9.4 % 10.75 2025 32 964,829 11.9 % 12.8 % 12.54 2026 24 1,021,282 12.6 % 12.0 % 11.14 2027 16 334,605 4.1 % 4.7 % 13.37 2028 17 572,370 7.0 % 8.0 % 13.18 2029 17 580,507 7.2 % 6.3 % 10.27 2030+ 18 599,480 7.4 % 7.8 % 12.30 Tenants month to month 2 41,612 0.5 % 0.3 % 6.21 Sub-Total 265 7,814,300 96.3 % 100.0 % $ 12.10 Leased (3) 2 33,002 0.4 % N/A N/A Vacant 14 270,002 3.3 % N/A N/A Total 281 8,117,304 100.0 % 100.0 % N/A

Small Shop - GLA of less than 10,000 square feetExpiration Year Number of Leases Owned GLA % of Owned GLA % of ABR (2) ABR/sf2020 47 112,196 3.3 % 3.6 % $ 22.46 2021 159 431,167 12.6 % 14.2 % 23.00 2022 148 421,962 12.4 % 14.3 % 23.76 2023 158 434,074 12.7 % 15.6 % 25.18 2024 99 314,695 9.2 % 9.9 % 21.99 2025 69 244,933 7.2 % 8.1 % 23.22 2026 48 141,869 4.2 % 5.3 % 26.34 2027 45 155,856 4.6 % 5.5 % 24.83 2028 65 190,256 5.6 % 7.7 % 28.13 2029 76 200,049 5.9 % 7.0 % 24.47 2030+ 44 152,839 4.4 % 6.0 % 27.45 Tenants month to month 34 94,114 2.8 % 2.8 % 21.07 Sub-Total 992 2,894,010 84.9 % 100.0 % $ 24.20 Leased (3) 13 47,467 1.4 % N/A N/A Vacant 162 468,023 13.7 % N/A N/A Total 1,167 3,409,500 100.0 % 100.0 % N/A

(1) Shown at pro-rata except for number of leases and as otherwise indicated.(2) Annualized base rent is based upon rents currently in place.(3) Includes signed leases where rent has not yet commenced.

Page 24

RPT RealtyTop Twenty-Five Retail Tenants (ranked by annualized base rent)Portfolio at Pro-Rata (1)

June 30, 2020

Tenant Name by RankCredit RatingS&P / Moody's (2)

Number of Leases

Number of Leases in

JV GLA

% of Total Company

Owned GLA

Total Annualized Base Rent

Annualized Base Rent

PSF

% of Annualized Base Rent

1 TJX Companies (3) A/A2 23 1 709,770 6.2 % $ 7,534,711 $ 10.62 4.6 %2 Dick's Sporting Goods (4) --/-- 10 1 451,967 3.9 % 5,486,121 12.14 3.3 %3 Regal Cinemas --/Ba1 4 — 219,160 1.9 % 4,968,395 22.67 3.0 %4 Bed Bath & Beyond (5) B+/Ba2 14 — 418,062 3.6 % 4,848,284 11.60 3.0 %5 LA Fitness CCC+/Caa1 6 1 233,419 2.0 % 4,407,080 18.88 2.7 %6 Michaels Stores B/Ba3 9 — 217,456 1.9 % 2,868,188 13.19 1.7 %7 PetSmart B-/B3 8 — 178,250 1.5 % 2,832,681 15.89 1.7 %8 Ross Stores (6) BBB+/A2 12 — 307,212 2.7 % 2,722,432 8.86 1.7 %9 Gap, Inc. (7) BB-/Ba2 13 1 155,336 1.3 % 2,682,821 17.27 1.6 %10 DSW Designer Shoe Warehouse --/-- 6 — 119,656 1.0 % 2,309,145 19.30 1.4 %11 ULTA Salon --/-- 9 — 93,137 0.8 % 2,307,520 24.78 1.4 %12 Burlington Coat Factory BB/Ba2 4 — 213,945 1.9 % 2,191,486 10.24 1.3 %13 Best Buy BBB/Baa1 4 — 134,129 1.2 % 2,089,147 15.58 1.3 %14 Dollar Tree BBB-/Baa3 19 1 191,356 1.7 % 2,007,163 10.49 1.2 %15 Whole Foods A+/A2 3 1 92,198 0.8 % 1,872,358 20.31 1.1 %16 Jo-Ann Fabrics and Craft Stores CCC/Caa1 4 — 134,949 1.2 % 1,787,817 13.25 1.1 %17 Office Depot (8) --/-- 5 — 116,894 1.0 % 1,624,963 13.90 1.0 %18 Ascena Retail (9) CCC-/Caa3 15 — 75,633 0.7 % 1,559,229 20.62 1.0 %19 Meijer --/-- 1 — 189,635 1.6 % 1,530,650 8.07 0.9 %20 Ashley Furniture HomeStore --/-- 4 — 147,778 1.3 % 1,463,243 9.90 0.9 %21 Five Below --/-- 10 1 85,516 0.7 % 1,421,569 16.62 0.8 %22 Pinstripes --/-- 1 — 32,414 0.3 % 1,365,926 42.14 0.8 %23 At Home --/-- 2 — 177,946 1.5 % 1,362,504 7.66 0.8 %24 The Container Store B-/B2 2 — 45,011 0.4 % 1,251,857 27.81 0.8 %25 Nordstrom BBB-/Baa3 2 — 69,803 0.6 % 1,236,846 17.72 0.8 %Sub-Total top 25 tenants 190 7 4,810,632 41.7 % $ 65,732,136 $ 13.66 39.9 %

(1) Shown at pro-rata except for number of leases and as otherwise indicated.(2) Source: Latest Company filings, as of June 30, 2020, per CreditRiskMonitor. Credit ratings relate to the parent or other affiliated entity that has obtained a

rating and may not relate solely to the entities that are financially responsible for the lease(3) Marshalls (10) / TJ Maxx (8) / HomeGoods (4) / Sierra Trading Post (1)(4) Dick's Sporting Goods (8) / Field & Stream (1) / Golf Galaxy (1)(5) Bed Bath & Beyond (7) / Buy Buy Baby (5) / Cost Plus World Market (2)(6) Ross Dress for Less (11) / DD's Discounts (1)(7) Old Navy (7) / Gap (2) / Banana Republic (1) / Athleta (3)(8) OfficeMax (3) / Office Depot (2)(9) Ann Taylor (3) / Catherine's (2) / Justice (4) / Lane Bryant (6)

Page 25

RPT RealtyLeasing ActivityPortfolio at Pro-Rata (1)

June 30, 2020

Leasing Transactions

Owned GLA

Base Rent PSF (2)

Prior Rent PSF (3)

Rent Growth %

Wtd. Avg. Lease Term

TIs, LCs & LL Costs

PSF (4)

Total Comparable Leases (5)

2nd Quarter 2020 20 152,963 $16.28 $15.96 2.0 % 3.7 $5.251st Quarter 2020 36 505,632 $12.63 $11.89 6.2 % 4.8 $1.144th Quarter 2019 27 94,783 $20.96 $18.67 12.3 % 5.5 $17.373rd Quarter 2019 42 184,942 $18.78 $17.54 7.1 % 4.6 $3.68Total 125 938,320 $15.27 $14.34 6.5 % 4.7 $3.92

Renewals2nd Quarter 2020 18 145,917 $16.29 $15.92 2.3 % 3.6 $5.351st Quarter 2020 32 497,512 $12.31 $11.59 6.2 % 4.8 $0.044th Quarter 2019 15 67,053 $19.20 $17.27 11.2 % 4.4 $2.723rd Quarter 2019 35 170,323 $17.85 $16.67 7.1 % 4.2 $0.33Total 100 880,805 $14.55 $13.71 6.2 % 4.4 $1.16

New Leases - Comparable2nd Quarter 2020 2 7,046 $16.14 $16.88 (4.4) % 6.1 $3.351st Quarter 2020 4 8,120 $32.12 $30.54 5.2 % 9.0 $68.644th Quarter 2019 12 27,730 $25.08 $21.96 14.2 % 8.0 $51.763rd Quarter 2019 7 14,619 $29.64 $27.58 7.5 % 9.2 $42.66Total 25 57,515 $26.14 $23.97 9.0 % 8.2 $45.90

Total Comparable and Non-Comparable2nd Quarter 2020 23 159,320 $16.31 N/A N/A 3.8 $5.781st Quarter 2020 46 557,874 $13.50 N/A N/A 5.2 $8.234th Quarter 2019 34 109,138 $21.66 N/A N/A 5.8 $20.213rd Quarter 2019 54 227,516 $18.61 N/A N/A 5.4 $14.20Total 157 1,053,848 $15.86 N/A N/A 5.1 $10.39

(1) Shown at pro-rata except for number of leasing transactions and owned GLA.(2) Base rent represents contractual minimum rent under the new lease for the first 12 months of the term.(3) Prior rent represents minimum rent, if any, paid by the prior tenant in the final 12 months of the term.(4) Includes estimated tenant improvement cost, tenant allowances, and landlord costs. Excludes first generation space and leases related to

development and redevelopment activity.(5) Non-comparable lease transactions include (i) leases for space vacant for greater than 12 months and (ii) leases signed where the previous and current

lease do not have a consistent lease structure.

Page 26

RPT RealtyPortfolio Detail ReportJune 30, 2020

Owned GLA (at 100%)

Property by Metro Market Property Category

Total Center

GLA Total Anchor (1) Small Shop

Leased Rate at

pro-rataOccupancy at pro-rata

ABR psfat pro-rata (2)

Grocery/Grocer Component (Shadow) Major Tenants (unowned)

Atlanta [MSA Rank 9]

Holcomb Center Community Center 107,193 107,193 58,256 48,937 83.6 % 83.6 % $ 13.02 Studio Movie Grill, Zoo Health Club

Peachtree Hill Community Center 154,700 154,700 110,625 44,075 98.6 % 96.6 % 14.31 Kroger LA Fitness

Promenade at Pleasant Hill Community Center 265,398 265,398 181,138 84,260 97.6 % 96.8 % 10.55 Publix K1 Speed, LA Fitness

Total / Average 527,291 527,291 350,019 177,272 95.0 % 94.1 % $ 12.13

Austin [MSA Rank 31]

Lakehills Plaza Community Center 75,923 75,923 12,582 63,341 94.4 % 94.4 % $ 25.78 (Target) TruFusion

Total / Average 75,923 75,923 12,582 63,341 94.4 % 94.4 % $ 25.78

Baltimore [MSA Rank 20]

Crofton Centre Community Center 252,230 252,230 210,318 41,912 96.3 % 96.3 % $ 9.82 Shoppers Food Warehouse

At Home, Gold's Gym

Total / Average 252,230 252,230 210,318 41,912 96.3 % 96.3 % $ 9.82

Chicago [MSA Rank 3]

Deer Grove Centre Community Center 357,644 237,644 183,928 53,716 82.2 % 82.2 % $ 10.02 Aldi Hobby Lobby, Ross Dress for Less, T.J. Maxx, (Target)

Market Plaza Community Center 166,572 166,572 90,954 75,618 91.1 % 91.1 % 15.82 Jewel-Osco Ross Dress for Less

Mount Prospect Plaza Community Center 227,690 227,690 174,320 53,370 93.7 % 93.7 % 14.10 Aldi Burlington Coat Factory, LA Fitness, Marshalls, Ross Dress for Less, (Walgreens)

Webster Place Lifestyle Center 134,918 134,918 113,162 21,756 69.8 % 69.8 % 24.36 Barnes & Noble, Regal Cinema

Total / Average 886,824 766,824 562,364 204,460 85.3 % 85.3 % $ 14.76

Cincinnati [MSA Rank 29]

Bridgewater Falls Lifestyle Center 627,040 503,340 337,989 165,351 94.2 % 94.2 % $ 14.77 Bed Bath & Beyond, Best Buy, Dick's Sporting Goods, Five Below, J.C. Penney, Michaels, PetSmart, T.J. Maxx, (Target)

Buttermilk Towne Center Community Center 290,033 290,033 258,787 31,246 100.0 % 100.0 % 10.22 Remke Market Field & Stream, Home Depot, LA Fitness, Petco

Deerfield Towne Center Lifestyle Center 469,209 469,209 278,859 190,350 91.6 % 87.5 % 21.56 Whole Foods Market

Ashley Furniture HomeStore, Bed Bath & Beyond, buybuy Baby, CoHatch (3), Crunch Fitness, Dick's Sporting Goods, Five Below, Regal Cinemas

Total / Average 1,386,282 1,262,582 875,635 386,947 94.5 % 93.0 % $ 16.02

Columbus [MSA Rank 32]

Olentangy Plaza Community Center 252,181 252,181 139,130 113,051 94.8 % 87.2 % $ 12.57 Aveda Institute Columbus, Eurolife Furniture, Marshalls, Micro Center, Tuesday Morning

The Shops on Lane Avenue Lifestyle Center 183,130 183,130 84,566 98,564 92.8 % 91.6 % 25.45 Whole Foods Market

Bed Bath & Beyond, CoHatch

Total / Average 435,311 435,311 223,696 211,615 93.9 % 89.0 % $ 18.14

Page 27


Owned GLA (at 100%)


Total Center


Leased Rate at




Denver [MSA Rank 19]

Front Range Village Lifestyle Center 837,646 504,008 261,917 242,091 89.0 % 88.6 % $ 20.07 Sprouts Farmers Market

2nd and Charles, Cost Plus World Market, DSW, Microsoft Corporation, Party City, Staples, Zone Athletic Clubs, Ulta Beauty, Urban Air Adventure Park, (Fort Collins Library), (Lowes), (Target)

Total / Average 837,646 504,008 261,917 242,091 89.0 % 88.6 % $ 20.07

Detroit [MSA Rank 14]

Clinton Pointe Power Center 248,326 135,450 105,280 30,170 78.2 % 78.2 % $ 10.45 OfficeMax, T.J. Maxx, (Target)

Hunter's Square Power Center 352,772 352,772 232,176 120,596 97.3 % 97.3 % 17.13 Bed Bath & Beyond, buybuy Baby, DSW Shoe Warehouse, Marshalls, Old Navy, Saks Fifth Avenue Off 5th, T.J. Maxx

Southfield Plaza Community Center 190,099 190,099 140,814 49,285 95.3 % 95.3 % 9.60 Big Lots, Burlington Coat Factory, Forman Mills

Tel-Twelve Community Center 523,382 523,382 490,850 32,532 94.8 % 94.8 % 12.10 Meijer Best Buy, DSW Shoe Warehouse, Lowe's, Michaels, PetSmart, Ulta

The Shops at Old Orchard (51.5%) Community Center 96,768 96,768 46,267 50,501 95.3 % 95.3 % 19.34 Plum Market

Troy Marketplace Power Center 265,730 245,130 188,921 56,209 97.7 % 97.7 % 20.04 Airtime, Golf Galaxy, LA Fitness, Nordstrom Rack, PetSmart, (REI)

West Oaks I Shopping Center Power Center 259,183 259,183 252,704 6,479 100.0 % 100.0 % 17.30 Gardner White Furniture, Home Goods, Michaels, Nordstrom Rack, Old Navy, Rally House, The Container Store

West Oaks II Shopping Center Power Center 526,713 193,744 116,543 77,201 82.7 % 82.7 % 18.93 Jo-Ann, Marshalls, (ABC Warehouse), (Bed Bath & Beyond), (Bob's Discount Furniture), (Kohl's), (Value City Furniture)

Winchester Center Power Center 320,134 320,134 276,829 43,305 100.0 % 100.0 % 12.78 Bed Bath & Beyond, Dick's Sporting Goods, Marshalls, Michaels, Party City, PetSmart, Stein Mart

Total / Average 2,783,107 2,316,662 1,850,384 466,278 94.9 % 94.9 % $ 14.89

Indianapolis [MSA Rank 34]

Merchants' Square Lifestyle Center 331,433 251,433 135,986 115,447 95.7 % 87.9 % $ 14.54 Flix Brewhouse, Planet Fitness

Total / Average 331,433 251,433 135,986 115,447 95.7 % 87.9 % $ 14.54

Jacksonville [MSA Rank 40]

Parkway Shops Community Center 170,568 170,568 151,454 19,114 100.0 % 100.0 % $ 10.77 Aldi, (Wal-Mart Supercenter)

Dick's Sporting Goods, Hobby Lobby, Marshalls

River City Marketplace Lifestyle Center 928,425 585,924 360,780 225,144 90.0 % 90.0 % 19.08 Aldi, (Wal-Mart Supercenter)

Ashley Furniture HomeStore, Bed Bath & Beyond, Best Buy, Burlington Coat Factory, Duluth Trading, Hollywood Theaters, Michaels, PetSmart, Ross Dress for Less, (Lowe's)

Total / Average 1,098,993 756,492 512,234 244,258 92.2 % 92.2 % $ 17.05

Page 28


Owned GLA (at 100%)


Total Center


Leased Rate at




Miami [MSA Rank 7]

Coral Creek Shops (51.5%) Community Center 109,312 109,312 42,112 67,200 94.3 % 94.3 % $ 19.92 Publix

Marketplace of Delray Community Center 241,715 241,715 133,316 108,399 94.2 % 93.0 % 16.88 Winn-Dixie Office Depot, Ross Dress for Less

Mission Bay Plaza (51.5%)Community Center 262,701 262,701 156,016 106,685 90.0 % 90.0 % 26.60 The Fresh

MarketDick's Sporting Goods, Five Below, LA Fitness, Tuesday Morning

Rivertowne Square Community Center 146,666 146,666 117,583 29,083 92.6 % 92.6 % 11.00 Winn-Dixie Bealls

The Crossroads (51.5%) Community Center 121,509 121,509 65,363 56,146 100.0 % 100.0 % 17.96 Publix

West Broward Shopping Center Community Center 152,973 152,973 106,883 46,090 90.8 % 85.3 % 11.47 Save-A-Lot Badcock, DD's Discounts

Total / Average 1,034,876 1,034,876 621,273 413,603 93.0 % 91.6 % $ 16.75

Milwaukee [MSA Rank 39]

Nagawaukee Center Community Center 280,083 220,083 159,005 61,078 100.0 % 100.0 % $ 15.40 (Sentry Foods) HomeGoods, Kohl's, Marshalls, Sierra Trading Post

West Allis Towne Centre Power Center 326,223 326,223 274,149 52,074 86.2 % 86.2 % 10.51 Burlington Coat Factory, Five Below, Hobby Lobby, Ross Dress for Less, Xperience Fitness

Total / Average 606,306 546,306 433,154 113,152 91.7 % 91.7 % $ 12.66

Minneapolis [MSA Rank 16]

Centennial Shops Community Center 85,206 85,206 66,574 18,632 97.3 % 97.3 % $ 40.88 Pinstripes, The Container Store, West Elm

Woodbury Lakes Community Center 372,545 360,028 171,654 188,374 88.1 % 88.1 % 21.32 (Trader Joe's) Alamo Drafthouse Cinema, Athleta, DSW, H&M, Michaels

Total / Average 457,751 445,234 238,228 207,006 89.8 % 89.8 % $ 25.37

Nashville [MSA Rank 36]

Providence Marketplace Lifestyle Center 829,798 632,554 494,296 138,258 97.7 % 97.7 % $ 13.50 (Kroger) Belk, Best Buy, Books A Million, Dick's Sporting Goods, J C Penney, JoAnn Fabrics, Old Navy, PetSmart, Regal Cinema, Ross Dress for Less, Staples, T.J. Maxx/HomeGoods, (Target)

Total / Average 829,798 632,554 494,296 138,258 97.7 % 97.7 % $ 13.50

St. Louis [MSA Rank 21]

Central Plaza Power Center 163,625 163,625 117,477 46,148 91.6 % 91.6 % $ 12.79 buybuy Baby, Jo-Ann, Old Navy, Ross Dress for Less

Deer Creek Shopping Center Power Center 208,122 208,122 158,688 49,434 96.9 % 96.9 % 10.57 GFS buybuy Baby, Club Fitness, Marshalls, Ross Dress for Less

Heritage Place Community Center 269,127 269,127 172,512 96,615 95.7 % 95.7 % 14.65 Dierbergs Markets

Marshalls, Office Depot, T.J. Maxx

Town & Country (51.5%) Community Center 323,394 186,557 105,684 80,873 97.9 % 97.9 % 25.16 Whole Foods Market

HomeGoods, Starbucks, Stein Mart, (Target)

Total / Average 964,268 827,431 554,361 273,070 95.4 % 95.4 % $ 14.49

Page 29


Owned GLA (at 100%)


Total Center


Leased Rate at




Tampa [MSA Rank 18]

Cypress Point Community Center 168,736 168,736 121,537 47,199 98.9 % 98.9 % $ 12.77 The Fresh Market

At Home

Lakeland Park Center Community Center 232,313 232,313 204,680 27,633 98.3 % 98.3 % 14.37 (Target) Dick's Sporting Goods, Floor & Décor, Northern Tool, Ross Dress for Less

Shoppes of Lakeland Power Center 307,102 183,702 138,523 45,179 100.0 % 100.0 % 13.62 (Target) Ashley Furniture HomeStore, Michaels, Staples, T.J. Maxx

Village Lakes Shopping Center Community Center 167,735 167,735 99,651 68,084 91.8 % 91.8 % 10.29 Bealls Outlet, Marshalls, Ross Dress for Less

Total / Average 875,886 752,486 564,391 188,095 97.4 % 97.4 % $ 12.96

Properties Not in Top 40 MSA's

Spring Meadows Place - Holland, OH

Community Center 818,466 314,514 247,641 66,873 88.7 % 88.1 % $ 11.31 (Wal-Mart) Ashley Furniture HomeStore, Big Lots, DSW, Guitar Center, HomeGoods, Michaels, OfficeMax, PetSmart, T.J. Maxx, (Best Buy), (Dick's Sporting Goods), (Sam's Club), (Target)

Treasure Coast Commons - Jensen Beach, FL

Community Center 91,656 91,656 91,656 — 100.0 % 100.0 % 12.92 Barnes&Noble, Beall's Outlet Store, Dick's Sporting Goods

Vista Plaza - Jensen Beach, FL Community Center 109,761 109,761 78,658 31,103 100.0 % 100.0 % 14.84 Bed Bath & Beyond, Michaels, Total Wine & More

Total / Average 1,019,883 515,931 417,955 97,976 93.1 % 92.7 % $ 12.42

AGGREGATE PORTFOLIO TOTAL / AVG 14,403,808 11,903,574 8,318,793 3,584,781 93.6 % 92.9 % $ 15.37

(1) Anchor tenant is defined as any tenant leasing 10,000 square feet or more. Tenants in parenthesis represent non-company owned GLA.

(2) Average base rent per SF is calculated based on annual minimum contractual base rent pursuant to the tenant lease, excluding percentage rent, recovery income from tenants, and is net of tenant concessions. Percentage rent and recovery income from tenants is presented separately in our condensed consolidated statements of operations and comprehensive income (loss) statement.

(3) Space delivered to tenant.

Page 30

RPT RealtyCOVID-19 Impact - Tenant StatusJune 30, 2020(at pro-rata share)

Merchandise Category % of ABR % Open (1)

Q2 2020 Cash Payments

Received (1) (2)

July 2020 Cash Payments

Received (1) (2)

Apparel - Discount 10 % 100 % 42 % 63 %Home & Furniture 10 % 98 % 77 % 96 %Apparel 8 % 95 % 39 % 69 %Fitness 6 % 80 % 31 % 67 %Grocery 6 % 100 % 98 % 99 %Restaurants - Fast Casual & QSR 6 % 92 % 74 % 82 %Service 6 % 97 % 76 % 81 %Restaurants - Full Service 5 % 87 % 62 % 65 %Theaters 4 % — % 1 % — %Hobbies 4 % 100 % 64 % 85 %Sports 4 % 100 % 53 % 35 %Electronics 3 % 98 % 98 % 100 %Bank / Financial Services 3 % 96 % 99 % 99 %Pet Stores & Services 3 % 100 % 96 % 100 %Health & Beauty 3 % 100 % 77 % 86 %Medical 3 % 96 % 73 % 87 %General Merchandise 2 % 100 % 96 % 100 %Shoe Stores 2 % 99 % 70 % 44 %Recreation 2 % 91 % 26 % 17 %Office Supply 2 % 100 % 100 % 100 %Home Improvement 2 % 97 % 95 % 100 %Books & Cards 1 % 100 % 37 % 53 %Jewelry Stores 1 % 88 % 79 % 86 %Other 1 % 92 % 78 % 68 %Office Space 1 % 81 % 97 % 100 %Party Supplies 1 % 100 % 47 % 46 %Postal Services 1 % 100 % 100 % 100 %Liquor Stores < 1% 91 % 100 % 100 %Auto Parts < 1% 100 % 100 % 100 %Drugstores < 1% 100 % 100 % 100 %

Total 100 % 92 % 65 % 75 %

Deferral agreements - signed 12 % 9 %Deferral agreements - approved, yet to be signed 12 % 9 %Abatement agreements - signed < 1% < 1%

Cash Collected + Deferral and Abatement agreements 89 % 93 %

Tenant Size % of ABR % Open (1)

Q2 2020 Cash Payments

Received (1) (2)

July 2020 Cash Payments

Received (1) (2)

Anchors (>= 10K SF) 57 % 90 % 60 % 70 %Mid-Tier (5K - 10K SF) 13 % 95 % 67 % 76 %National / Regional small shops (< 5K SF) 20 % 95 % 69 % 83 %Local small shops (< 5K SF) 10 % 92 % 82 % 87 %

Cash Collected 100 % 92 % 65 % 75 %

(1) Information as of July 31, 2020.(2) Includes base rent and recoverable expense reimbursements.

Page 31

UNCONSOLIDATED JOINT VENTURE FINANCIAL SUMMARY

Unconsolidated Joint Venture Financial Information:The following pro-rata financial information is not, and is not intended to be, a presentation in accordance with GAAP. The non-GAAP pro-rata financial information aggregates our proportionate economic ownership of each of our unconsolidated joint ventures. The amounts in each column were derived on an entity-by-entity basis by applying to each line item the ownership percentage interest used to arrive at our share of the net operations for the period consistent with the application of the equity method of accounting to each of our unconsolidated joint ventures.

We do not control the unconsolidated joint ventures and the presentations of the assets and liabilities and revenues and expenses do not represent our legal claim to such items. The operating agreements of the unconsolidated joint ventures generally provide that partners may receive cash distributions (1) to the extent there is available cash from operations, (2) upon a capital event, such as a refinancing or sale or (3) upon liquidation of the venture. The amount of cash each partner receives is based upon specific provisions of each operating agreement and varies depending on factors including the amount of capital contributed by each partner and whether any contributions are entitled to priority distributions. Upon liquidation of the joint venture and after all liabilities, priority distributions and initial equity contributions have been repaid, the partners generally would be entitled to any residual cash remaining based on their respective legal ownership percentages.

We provide pro-rata financial information because we believe it assists investors and analysts in estimating our economic interest in our unconsolidated joint ventures when read in conjunction with our reported results under GAAP. The presentation of pro-rata financial information has limitations as an analytical tool. Some of these limitations include:

• The amounts shown on the individual line items were derived by applying our overall economic ownership interest percentage determined when applying the equity method of accounting and do not necessarily represent our legal claim to the assets and liabilities, or the revenues and expenses;

• the ownership percentages used in calculating these pro-rata amounts may not completely and accurately depict all of the legal and economic implications of holding an interest in an unconsolidated joint venture. For example, in addition to partners’ interests in profits and capital, operating agreements vary in the allocation of rights regarding decision making (both routine and major decisions), distributions, transferability of interests, financings and guarantees, liquidations and other matters; and

• Other companies in our industry may calculate their pro-rata interest differently than we do, limiting the usefulness as a comparative measure.

Because of these limitations, the pro-rata financial information should not be considered in isolation or as a substitute for our financial statements as reported under GAAP. We compensate for these limitations by relying primarily on our GAAP results and using the pro-rata financial information only supplementally.

Page 32

RPT REALTYUNCONSOLIDATED JOINT VENTURE BALANCE SHEETS AT PRO-RATA


June 30, 2020

December 31, 2019

ASSETSIncome producing properties, at cost:

Land $ 40,180 $ 40,180 Buildings and improvements 80,314 80,301 Less accumulated depreciation and amortization (1,883) (213)

Income producing properties, net 118,611 120,268 Construction in progress and land available for development 10 —

Net real estate 118,621 120,268 Cash and cash equivalents 2,553 939 Restricted cash and escrows 4 181 Accounts receivable, net 1,216 195 Acquired lease intangibles, net 7,994 9,009 Other assets, net 3,918 3,763 TOTAL ASSETS $ 134,306 $ 134,355

LIABILITIES AND OWNERS' EQUITYAccounts payable and accrued expenses $ 1,672 $ 123 Acquired lease intangibles, net 7,340 7,690 Other liabilities 386 388 TOTAL LIABILITIES 9,398 8,201

Owner's Equity 124,908 126,154 TOTAL OWNERS' EQUITY 124,908 126,154

TOTAL LIABILITIES AND OWNERS' EQUITY $ 134,306 $ 134,355

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RPT REALTY

UNCONSOLIDATED JOINT VENTURE STATEMENTS OF OPERATIONS AT PRO-RATA

(In thousands, except per share amounts)

(unaudited)

Three Months Ended Six Months EndedJune 30, June 30,

2020 2019 2020 2019REVENUE

Rental income $ 2,850 $ 46 $ 5,945 $ 111 Other property income 10 9 21 26

TOTAL REVENUE 2,860 55 5,966 137

EXPENSESReal estate tax expense 412 6 824 12 Recoverable operating expense 290 4 527 8 Non-recoverable operating expense 134 3 260 6 Depreciation and amortization 1,369 14 2,782 28 Acquisition costs (217) — 401 — General and administrative expense 38 2 82 3

TOTAL EXPENSES 2,026 29 4,876 57

OPERATING INCOME 834 26 1,090 80

OTHER INCOME AND EXPENSESOther expense, net — — — — Gain on sale of real estate — — — —

INCOME BEFORE TAX 834 26 1,090 80 Income tax provision (13) — (13) —

NET INCOME $ 821 $ 26 $ 1,077 $ 80

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RPT Realty

Other Unconsolidated Joint Venture Supplemental Information at Pro-Rata

As of and for the Three and Six Months Ended June 30, 2020 and 2019

(in thousands)

(unaudited)

June 30, 2020 December 31, 2019Other assets, net

Deferred leasing costs, net $ 3,536 $ 3,686 Straight-line rent receivable, net 222 27 Prepaid and other deferred expenses, net 160 50

Other assets, net $ 3,918 $ 3,763

Other liabilities, netDeferred liabilities $ — $ — Tenant security deposits 386 388

Other liabilities, net $ 386 $ 388

Three MonthsEnded June 30,

Six MonthsEnded June 30,

2020 2019 2020 2019Rental Income

Base rent, net (1) $ 2,144 $ 35 $ 4,309 $ 70 Straight-line rental income, net 89 1 195 2 Amortization of acquired above and below market lease intangibles, net 110 — 219 — Rental income not probable of collection (2) (224) — (229) — Percentage rent 11 — 64 — Recovery income from tenants (1) 720 10 1,387 39

Total rental income $ 2,850 $ 46 $ 5,945 $ 111

Other Property IncomeLease termination income $ — $ — $ — $ — Other property income 10 9 21 26

Total other property income $ 10 $ 9 $ 21 $ 26

Ongoing Capital ExpendituresLeasing capital expenditures $ 18 $ 5 $ 84 $ 10 Building improvements 8 — 8 —

Total ongoing capital expenditures $ 26 $ 5 $ 92 $ 10

Discretionary Capital ExpendituresTargeted remerchandising $ — $ — $ — $ — Outlots/expansions — — — — Development/redevelopment — — — —

Total discretionary capital expenditures $ — $ — $ — $ —

(1) As of July 31, 2020, accrued but uncollected second quarter base rent, net and recovery income from tenants was $0.7 million of which $0.2 million was reserved for as rental income not probable of collection as of June 30, 2020.

(2) For the three months ended June 30, 2020, includes $0.2 million related to uncollected balances during the second quarter 2020.

Page 35

MISCELLANEOUS

Page 36

RPT RealtyAnalyst Coverage

Bank of America Merrill Lynch Craig Schmidt 646.855.3640 [email protected]

J.P. Morgan Michael W. Mueller, CFA 212.622.6689 [email protected]

KeyBanc Capital Markets Todd M. Thomas, CFA 917.368.2286 [email protected]

Robert W. Baird & Co. RJ Milligan 813.273.8252 [email protected]

Raymond James Collin Mings 727.567.2585 [email protected]

Deutsche Bank Derek Johnston 212.250.5683 [email protected]

Jefferies Linda Tsai 212.778.8011 [email protected]

Compass Point Floris van Dijkum 646.757.2621 [email protected]

Corporate Address:19 W 44th St. 10th Floor, Ste 1002New York, New York 10036(212) 221-1261www.rptrealty.com

Investor Relations Contact:Vin ChaoSenior Vice President - [email protected](212) 221-1752

Page 37

Documents

SUPPLEMENTAL REPORTING INFORMATION