Kimco Realty (KIM) Prices $500M Notes Offering

Kimco Realty Corporation (NYSE: KIM) (the “Company”) today announced that its subsidiary, Kimco Realty OP, LLC (“Kimco OP” and, together with the Company, “Kimco”), has priced a public offering of $500 million aggregate principal amount of 6.400% notes due 2034 (the “notes”) with an effective yield of 6.456%, maturing March 1, 2034. The notes will be fully and unconditionally guaranteed by the Company. The offering is expected to settle on October 12, 2023, subject to the satisfaction of customary closing conditions.

Kimco intends to use the net proceeds from the offering for general corporate purposes, including, but not limited to, funding for suitable investments and redevelopment opportunities and the repayment of outstanding indebtedness at or in advance of maturity.

Wells Fargo Securities, LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, TD Securities (USA) LLC, BofA Securities, Inc., Mizuho Securities USA LLC and Scotia Capital (USA) Inc. served as joint book-running managers in connection with the offering. BNY Mellon Capital Markets, LLC, Regions Securities LLC and Truist Securities, Inc. served as senior co-managers in connection with the offering. Barclays Capital Inc., BMO Capital Markets Corp., BNP Paribas Securities Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC and U.S. Bancorp Investments, Inc. served as co-managers in connection with the offering.

The offering of the notes is being made pursuant to an effective shelf registration statement, base prospectus and related prospectus supplement. Copies of the base prospectus and prospectus supplement, when available, may be obtained by contacting Wells Fargo Securities, LLC collect at 1-800-645-3751, Morgan Stanley & Co. LLC at 1-866-718-1649, RBC Capital Markets, LLC at 1-866-375-6829 and TD Securities (USA) LLC at 1-855-495-9846 . Investors may also obtain these documents for free by visiting EDGAR on the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

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