Investor Presentation

Brixmor – A Superior Investment Opportunity

Company: Largest pure play, wholly-owned shopping center owner in the US

Geography: National grocery-anchored portfolio focused in the top 50 MSAs

Diversified high quality tenants: Kroger, TJX Companies, Walmart and Publix are largest tenants

Favorable industry dynamics: Limited new supply and stable macro recovery

Above-average growth: Generating above average FFO growth and leasing gains

Growth drivers: Below-market rents, occupancy upside, anchor space repositioning and increasing market rent environment

Attractive dividend: $0.225 per quarter (ex-dividend July 1, 2015) / 3.4% yield per share 1

Post IPO performance: Delivering attractive FFO per share growth and all-in returns to shareholders since IPO

2

Portfolio Primer

Largest pure play, wholly owned grocery-anchored shopping center portfolio

High quality asset base anchored in Top 50 US markets

Productive 70% grocery-anchored portfolio with average sales of $549 PSF, 40% above average US grocer 1

Embedded internal growth opportunities

National platform supported by regional operating structure

3

National Platform

PORTFOLIO QUICK FACTS

Number of shopping centers 520

GLA (SF) 87M SF

Average shopping center size 166,400 SF

Percent leased 92.4%

Percent billed 90.3%

Average ABR/SF $12.19

% of ABR in top 50 US MSAs 65%

Average shopping center age 32 years

Average shopping center effective age 2 15 years

% Community / % Neighborhood 63% / 37%

MARKET DATA at 3/31/15

NYSE symbol BRX

Share price (3/31/15) $26.55

52-week range $20.44 - $27.43

Equity market capitalization 3 $8.1B

Total enterprise value 3 $14.0B

Dividend yield 3 3.4%

Indicated annual dividend $0.90

Performance Snapshot

4

15 consecutive quarters of increases Top Line Rent Improvement

Positive growth trajectory: All operating metrics demonstrating continued momentum

MILESTONES

Completed largest debut unsecured credit facility in REIT history - $2.8B term loan / revolver

Completed inaugural $700M bond offering

Completed four secondary offerings reducing sponsor ownership to ~40%

Same property NOI growth of 3.4% in 1Q2015 NOI Growth

Increased 17 consecutive quarters on a year-over-year basis • Small shop occupancy up 130bps year-over-year Occupancy

3.9M SF of new leases executed TTM Leasing Volume

3 consecutive quarters of blended leasing spreads approaching 14% • New lease spreads 39.4% in 1Q2015 • Blended lease spreads of 13.7% in 1Q2015

Leasing Spreads

Increased FFO per share by 9% year-over-year • $0.49 in 1Q2015 (excluding non-comparable (non-cash) items) FFO

$0.13

$0.83 $0.90

2013 2014 2015E

Dividend Growth

81.9%

83.2%

1Q14 1Q15

$0.45

$0.49

1Q14 1Q15

FFO per Diluted Share Excluding Non-Comparable (non-cash) Items

Key Metrics

Operating fundamentals driving growth 1Q2015 FFO per diluted share up 9% year over year

92.3% 92.4%

1Q14 1Q15

Occupancy

5

6.1%

9.8%

12.6% 13.2% 13.7% $12.51

$13.69 $13.45 $13.53

$15.45

2012 2013 2014 TTM 3/31/15 YTD 2015

Total Rent Spread New ABR/SF

Lease Productivity

Total Occupancy 10bps improvement YOY

Small Shop Occupancy 130bps improvement YOY

Total 13.7% Total

8.9%

New Lease 39.4%

New Lease 17.5%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

BRX Peer Group Average

Leading Rent Spreads – 1Q2015

Shopping Center Environment

Landlords have pricing power

• Growing demand to support store opening plans

New development remains at 38 year low

• Only 2.0M SF of strip shopping centers completed in 1Q2015 and 8.9M SF in TTM 1

• Significant portion of new construction is single tenant buildings or unanchored small centers, particularly convenience stores

No material increase in development activity expected by public REITs or private construction

• Traditional anchors for development (Target, Lowe’s, Home Depot, Kohl’s) have no significant new store opening programs

Expectation that these fundamentals will continue

6

New shopping center supply has declined by 90%, setting the stage for increased occupancy and robust rent growth

202 183 177

82

29 26 21 22 22

2006 2007 2008 2009 2010 2011 2012 2013 2014

US Shopping Centers YOY Change In Inventory (M SF) 2

90% Decline

.

.

.

.

Acquisition / Disposition

Strategy

Capturing Occupancy Upside

Across Both Anchor and Small

Shop Space

Capitalizing on Below-Market

Expiring Leases and Significant Near-

Term Lease Rollover

Pursuing Value-Creating Anchor

Space Repositioning / Redevelopment Opportunities

Growth Strategy

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Objective: Maximize total returns through combination of growth and value-creation at the asset level supported by stable cash flows

Long Term Mark-To-Market Opportunity

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7.1% 14.6% 13.3% 11.9% 12.7% 10.0% 4.5% 4.5% 4.4% 15.3%

$10.98 $11.26

$12.15 $12.30

$11.54 $10.91 $11.18

$10.73 $10.22

$11.77

4.00

6.00

8.00

10.00

12.00

14.00

16.00

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024+

% of Leased GLA Expiring Avg. ABR/SF Expiring 1Q15 New Lease ABR/SF

Lease Expiration Schedule

On average, new lease ABR/SF is 37% above expiring lease ABR/SF through 2024+

1Q2015 New Lease ABR/SF $15.45

Potential for additional growth – occupancy is 290bps below peer group average 1

251 leases signed but not yet commenced, representing ~$28M of contractual rent

Measured occupancy growth reflective of focus on upgrading merchandise mix with strong, best-in class anchors and driving rents

• Continued anchor commencements is the foundation for small shop occupancy gains and NOI expansion

– Small shop (< 5K SF) occupancy improved 400bps in centers with at least one anchor (> 10K SF) commencement in the prior 24 months

• Small shop (<10K SF) occupancy increased 130bps Y-O-Y to 83.2%

17 consecutive quarters of year-over-year occupancy increases

Anticipated Occupancy Increases

9

90.8% 91.2%

92.3% 92.4%

95.3%

Mar-12 Mar-13 Mar-14 Mar-15 Peer Group Average

at Mar-15

Portfolio Occupancy

Occupancy improved 10bps Y-O-Y but remains 290bps below peer group

Occupancy by Unit Size

# Units GLA

(K SF) % of

Vacant GLA ABR/SF % Leased at

3/31/15 % Leased at

3/31/14

Anchor (≥ 10K SF) 1,880 60,861 35% $9.48 96.3% 96.7%

Small Shop (< 10K SF) 9,247 25,687 66% 19.34 83.2% 81.9%

BRX TOTAL 11,127 86,548 -- $12.19 92.4% 92.3%

1

2

Value Proposition: 2015E FFO Growth

10

-9.2%

-2.7% -1.0%

1.2%

4.6% 4.6% 5.6%

7.3%

9.4%

RPAI KRG KIM EQY REG WRI DDR FRT BRX

2015E FFO Growth 1

Largest pure play, wholly

owned shopping center portfolio

Embedded internal growth

opportunities

High quality asset base anchored in Top 50 markets

Productive 70% grocery-anchored

portfolio

National platform supported by

regional operating structure

The Factor

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• 65% of ABR in top 50 MSAs • Strong demographics • Well-diversified credit tenancies

• Significant near-term lease rollover with below market rents

• Occupancy opportunity • Anchor space repositioning /

redevelopment

• Key landlord across retail space • Expansive scale and footprint • Local market knowledge

• Average sales of $549 PSF, 40% above average US grocer

• 80% ranked #1 or #2